SNS Price

SNS (FIDA) is a cryptocurrency that operates on the Solana blockchain. Currently ranked #492 with a price of $0.07969, it has seen a +2.54% change in the last 24 hours. SNS serves as the native utility token of the Solana Name Service ecosystem (previously known as Bonfida). The token enables users to reduce trading fees on the platform and access advanced trading tools including trading bots and API services. SNS plays a crucial role in the Solana DeFi ecosystem by bridging Serum (one of the fastest decentralized exchanges on Solana) with various other DeFi services. With a market cap of $78.96M, 24-hour trading volume of $1.23M, and a circulating supply of 990.91M FIDA, SNS supports advanced trading analytics and contributes to increased liquidity and market efficiency within the Solana ecosystem.

SNS (FIDA) was created on December 16, 2020. It was launched on the Solana blockchain as a cryptocurrency token. Initially, the project focused on providing decentralized finance (DeFi) services within the Solana ecosystem. Since its creation, SNS has evolved to become an integral part of the Solana Name Service, offering domain naming solutions on the Solana network. The token has been actively trading since its launch and has established itself as a notable project in the Solana ecosystem.

SNS was founded by David Ratiney and the Bonfida Foundation in 2020. David Ratiney serves as the Central Executive Officer of the project. The cryptocurrency was established as a private company with its headquarters in China. SNS initially emerged as Serum GUI's forerunning project, with over 60% of Serum's users utilizing Bonfida's GUI. The project has since evolved and was rebranded to Solana Name Service, continuing its development on the Solana blockchain platform.

SNS (FIDA) operates on the Solana blockchain as a utility token for the Solana Name Service ecosystem. The token functions through a deflationary mechanism where tokens are regularly burned using stablecoins to purchase and remove FIDA from circulation, reducing the total supply of 990.91M FIDA over time. FIDA serves multiple purposes within the ecosystem: 1. Governance: Token holders can participate in protocol decisions through quadratic voting 2. Transaction fees: Used to pay for domain registrations and transactions 3. Staking: Users can stake tokens to earn rewards and participate in governance The token's value is supported by its utility and the continuous burning mechanism. With a current price of $0.07969 and market cap of $78.96M, FIDA ranks #492 among cryptocurrencies. The token has seen +2.54% price movement in the last 24 hours with a trading volume of $1.23M. The project launched in 2020 and continues to develop its ecosystem on Solana.

SNS operates on the Solana blockchain platform, leveraging its high-performance infrastructure for fast and low-cost transactions. The technical architecture includes: 1. SPL Token Standard: FIDA is built as an SPL token (Solana Program Library), which ensures compatibility with the Solana ecosystem. 2. Proof-of-History (PoH) Consensus: Inherits Solana's PoH consensus mechanism, allowing for efficient transaction ordering and validation. 3. Smart Contract Functionality: Utilizes Solana's programming model for implementing decentralized applications and services. 4. Cross-Program Invocation: Enables interaction with other protocols in the Solana ecosystem. 5. On-chain Name Service: Powers the Solana Name Service functionality, allowing users to register and manage domain names on the Solana blockchain. The architecture prioritizes scalability and low latency, making it suitable for DeFi applications and services that require high throughput and minimal transaction costs.

SNS (FIDA) has a promising future with a well-defined roadmap focused on expanding its ecosystem within the Solana blockchain. Currently ranked 492 with a market cap of $78.96M, FIDA is positioning itself as a key player in the DeFi space. The roadmap for 2025-2026 includes enhancing the Solana Name Service functionality, improving governance mechanisms, and expanding cross-chain capabilities. By 2027, FIDA aims to introduce advanced staking features and increase integration with other DeFi protocols. The team is committed to decentralization, with plans to transition more control to token holders through DAO governance by 2030. Technical developments include scalability improvements and enhanced security features. With strong backing from notable investment firms and growing adoption within the Solana ecosystem, FIDA is well-positioned for long-term growth despite current market fluctuations of +2.54% in the last 24 hours.