How to participate in the Bonfida IEO

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THE BONFIDA IEO AND FIDA ARE NOT BEING OFFERED IN THE UNITED STATES OR TO ANY U.S. PERSONS. IF YOU ARE LOCATED IN, INCORPORATED OR OTHERWISE ESTABLISHED IN, OR A RESIDENT OF THE UNITED STATES OF AMERICA, YOU ARE NOT PERMITTED TO PARTICIPATE IN THE BONFIDA IEO OR TO PURCHASE ANY FIDA TOKENS.

 

Prepare for the IEO
Take a moment to familiarize yourself with Bonfida or scroll to the bottom of this article. 
 
Note: To qualify for participation in the IEO users must have either: 30d trading volume > $50,000 or staked over 1,000 FTT by 9 PM SGT, December 16th. Additionally, users must be approved to KYC level 2 to be allowed participation in the IEO.
 
Details and guide: https://ftx.com/bonfida-ieo

 

In order to bid during the IEO, make sure you read the rules below and do the following beforehand:
  1. Register your FTX account and submit KYC level 2. Due to a large inflow of new sign-ups, any account that signs up past SGT 9 PM 15th December 2020 will not be guaranteed entry into the IEO.
  2. There is no guarantee of your right to participate in the IEO or to receive any allocation.
  3. Set an alarm in advance: the IEO starts at 9 PM SGT, December 17th
  4. Prepare funds to bid: at least 150 USD(T), and at most 200 USD(T) and 6 FTT per ticket
  5. You will have one hour to bid between 9 PM SGT, December 17th and 10 PM SGT, December 17th
  6. Trade and buy FTT to lock in your additional ticket allotment 24 hours before the IEO. This means before 9 PM SGT, December 16th.
  7. Await Results
    • There are 1,000 accepted tickets (so 2,000,000 FIDA tokens total). At 10 pm we’ll raffle off the allocations. The minimum bid is $150 ($0.075 per FIDA) and the maximum bid is $200 + 6 FTT ($0.1 per FIDA + 6 FTT). They will go to the highest bidders; in the event that there are over 1,000 tickets each bidding US$0.1 per FIDA + 6 FTT, we’ll allocate randomly between them. 
    • Within a few hours of determining the allocations, the trades will print to the winning buyers’ subaccounts, and you will be able to transfer (non-FIDA) funds out of the FIDA-IEO subaccount.
      • If you do not win your funds will be returned
      • If you bid FTT but would have won the auction without it, the FTT will be returned
      • All FTT paid will be burned
  8. Any FIDA purchased will be fully unlocked and transferable up to an hour after the IEO commenced. 

Rules for Bidding 

Each bid ticket, if filled, will result in a trade: you pay your bid price and receive 2,000 FIDA. You can enter the number of tickets you would like to submit. Each ticket is an additional entry for another 2,000 FIDA tokens; multiple could theoretically be filled.

  • Any user who is qualified for the IEO (account is KYC2 and has either 1k staked FTT or has done >$50,000 volume in the past 30d) will receive 1 ticket. You may be able to purchase additional tickets based on your trading volume over the past 30 days, and additionally based on your average daily FTT holdings over the past 7 days.

 

Average FTT holdings for the 7d prior to December 16, 2020

  • > 10: +1 ticket
  • > 100: +2 tickets
  • > 1000 or FTX VIP: +3 tickets

 

Trading volume over the 30d prior to December 16, 2020

  • > US$100,000: +1 ticket
  • > US$1,000,000: +2 tickets
  • > US$10,000,000: +3 tickets

 

Please take note of the following:

  • The above 30d volume updates once per day: the official volume number used will be your 30d volume over the 30 days prior to December 16th 9PM SGT.
  • The above average FTT holdings updates every few minutes: the official number used will be the average FTT holdings over snapshots taken at December 16th 9PM SGT and the 7 days prior (also at 9 PM SGT).
  • Stats are summed across all your subaccounts.
  • Your maximum number of tickets gets locked in based on data up until 24h before the IEO. We will indicate on this page what numbers are final a few hours after that.
  • Please carefully review our terms of service, especially as they pertain to trading activity and KYC submission
     
Conditions
  • All participants agree to abide by the FTX Terms of Service and the Token Terms.
  • Any participants found violating the FTX Terms of Service or Token Terms will be disqualified.
  • FTX reserves the right to amend the Terms and Conditions of this IEO without prior notice.
  • Multiple entrants from a single trader are strictly prohibited and will result in disqualification.
  • US residents or residents of any restricted jurisdiction are strictly prohibited.
  • Reselling purchased FIDA to a resident of the US or any restricted jurisdiction is strictly prohibited.

 

THE BONFIDA IEO AND THE FIDA TOKENS ARE NOT AND WILL NOT BE OFFERED IN THE UNITED STATES OR TO ANY U.S. PERSONS (AS DEFINED IN REGULATION S PROMULGATED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED). PARTICIPATION IN THE BONFIDA IEO AND ALL TRANSACTIONS IN FIDA TOKENS ARE SUBJECT TO THE TOKEN TERMS.

 

What is Bonfida?

Bonfida is the flagship interface for Project Serum, the world’s first completely decentralized, non-custodial exchange with an on-chain order book.

 

Overview

Bonfida is the full product suite that bridges the gap between Serum, Solana and the user.  We are the flagship Serum GUI and bring first of its kind Solana Data  analytics  to  the  field.   Bonfida  API  is  used  by  some  of  the  largest  market makers in the space and has seen a growth of requests of 25% week over week.

  • FIDA: the Bonfida token accrues all of the value from our product suite
    •  FIDA will be fully integrated into Bonfida, and also has governance control over all fees earned on Bonfida.

 

  • Bonfida Serum GUI: the first choice for trading on Serum–Bonfida DEX will give traders the best functionality and experience maintaining its place as the most used Serum DEX, including a built-in wallet, starter SOL airdrops, and more.

 

  • Serum API: a unique repository of all Serum transactions–Already used by Coingecko, Coinmarketcap and some of the largest market makers in the space, Bonfida’s API will continue to expand its offering to provide connected users a CEX like experience

 

  • Serum  Dashboard:   all  the  components  of  the  Serum  ecosystem  in  one place
    • This will embed a Serum GUI, Swap, Borrow/Lending and staking all in one place

 

  • Bonfida Bots:  build and subscribe to on-chain trading bots for Serum–This will allow users to automate their strategies with technical in-dicators and earn revenue by selling subscriptions for FIDA

 

  • Solible:  Home of Solana’s NFT’s
    • Solible is an NFT exchange built on top of Solana and Serum. 

 

And to be clear, Bonfida is not theoretical:  it is already the leading gateway to Serum.

 

Token Details

Project Name: Bonfida

Ticker: FIDA

Total Supply: 1,000,000,000 FIDA

Circulating Supply first year: <100,000,000 FIDA

Protocol: ERC 20/SPL

Official Website: https://www.bonfida.com

Telegram: https://t.me/bonfidatg

Discord: https://discord.gg/B4xzATxQHC

Issued Date: December 2020

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