Bonfida, a cross-functional infrastructure built around the Solana blockchain, has announced that its Solana Name Service, or SNS, will be integrated into cryptocurrency exchange FTX.in an attempt to expand the digital footprint and rate of adoption.
Along with SNS, Bonfida is recognized within the industry for rolling out the first decentralized exchange, or DEX, on Serum in September 2020.as well as for currently serving as an API chain data analysis service for the Solana ecosystem, in addition to orchestrating governance mechanisms through its native FIDA token, among other functions.
Solana-centric SNS platform has enabled over 150,000 users to register and interact with .sol domain namesreceive and send digital asset payments, transact IPFS CID data, as well as images, among other things.
The service could be considered comparable to the very popular Ethereum Name Service (ENS), which rose in notoriety within the space in November 2021 following the launch of an exclusive token airdrop for early adopters of the protocol.
Cointelegraph spoke with Bonfida’s business developer to get more clarity on his expectations for how the partnership will impact, and subsequently evolve, the ecosystem of projects.
“This really shines a light on the usefulness of .sol domain names which we have wanted to test for a while. CEX continues to dominate and while we have been popular in the Solana ecosystem, we are aiming for much higher adoption”they declared.
“This is the furthest thing from what we envision – website hosting, for example, is within reach. This exposure helps us gain even more traction in making this a reality… supported by a well-known project like FTX supports us and therefore the usefulness and quality of our products.”
Recent quantitative statistics published by the official Bonfida Twitter account indicate that the Solana Naming Service provided 147,912 new domain names in January, and another 158,598 in February.. These figures, along with other corresponding metrics within the space, demonstrate the burgeoning demand for domain addresses. personalized in a whole series of utilities.
Registering domains on Solana https://t.co/PrW2ZjwEtL
— Tom Farren ☮️ (@tomfarrencrypto) November 10, 2021
Later in our conversation, the business developer stated that future partnership opportunities with FTX would be based on a reciprocal agreement that any proposed implementation would be inherently positive for both partiesgoing on to note that “At first glance, we expect to get fully functional .sol domains on all your platforms, like your mobile app for example,” before revealing:
“Overall, this addition of FTX will bridge the gap between CEXs and Solana, especially considering how fast our ecosystem is growing. This indicates that CEXs are really embracing the notion of Web 3.0 – as FTX is one of the leading CEXs and we hope it will encourage… more centralized exchanges to start adopting us and other DEX projects.”
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