Bonfida, a feature-rich infrastructure built on the Solana blockchain, has announced that their Solana Name Service, or SNS, will be integrated into the FTX cryptocurrency exchange to expand the former’s digital presence and adoption rate.
Along with SNS, Bonfida has received industry recognition for deploying the first decentralized exchange, or DEX, on Serum in September 2020, and for currently serving as a data analytics service on the API network for the Solana ecosystem, in addition to among other things , managing governance mechanisms with a native FIDA token.
The Solana-focused SNS platform has enabled more than 150,000 users to register and interact with .sol domain names, receive and send digital asset payments, transfer IPFS CID data, as well as images, and more.
This service can be compared to the very popular Ethereum Name Service (ENS), which rose to prominence in the space in November 2021 after launching a token giveaway exclusively for early adopters of the protocol.
Cointelegraph spoke with business developer Bonfida to clarify their expectations for how the partnership will impact and grow the ecosystem of projects.
“This really sheds light on the usefulness of .sol domain names, which we have long wanted to prove. CEXs continue to dominate and while we have been popular in the Solana ecosystem, we are aiming for much more adoption,” they said.
“It’s far from what we have in stock – for example, website hosting is within reach. This introduction helps us to be even more successful in making this happen…support from a well-known project like FTX keeps us going and therefore the usefulness and quality of our products.”
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Recent quantitative statistics published by Bonfida’s official Twitter account show that the Solana name service provided 147,912 new domain names in January and another 158,598 in February. These numbers, along with other relevant metrics in this area, demonstrate the growing demand for personalized domain addresses across a range of utilities.
Domain registration on Solana https://t.co/PrW2ZjwEtL — Tom Farren ☮️ (@tomfarrencrypto) November 10, 2021
Later in our conversation, the business developer stated that future opportunities for partnering with FTX would be based on a mutual agreement that any proposed implementation would be inherently positive for both parties, going on to note, “On the face of it, we hope to get .sol. domains are fully functional across all their platforms, such as their mobile app” before revealing:
“Overall, this addition from FTX will connect CEX to Solana, especially given how fast our ecosystem is growing. This signals that CEXs are indeed embracing the idea of Web 3.0 as FTX is one of the leading CEXs and will hopefully encourage… more centralized exchanges to start accepting us and other DEX projects.”
