Solana Name Service
FIDA
Evaluation Score
Overall rating on a scale of 0-10
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AI Analysis
Comprehensive evaluation of the token
Solana Name Service (FIDA) Overview
FIDA offers a fast, low-cost naming layer on Solana, backed by consistent development, robust community engagement, and clear on-chain governance. Its fixed supply and deflationary fee-burn mechanism align long-term token value with protocol usage.
Strengths
- Active development: steady commits, strong testing, regular releases
- Vibrant community: high engagement on Discord/Twitter, on-chain voting
- Real utility: domain registration, premium auctions, staking rewards
Risks
- Moderate centralization: team/foundation vesting cliffs (~40%)
- Competitive landscape: ENS and multi-chain name services
- Limited formal audits: no major third-party audit published
Outlook FIDA is well positioned to capture Solana-native naming demand but requires ongoing governance decentralization and audit rigor to mitigate centralization and security risks.
Detailed Analysis by Category
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Solana Name Service (FIDA)
Solana Name Service (FIDA)
Solana Name Service (SNS) is a decentralized naming protocol on the Solana blockchain, enabling human-readable domain names and seamless web3 identity. The native utility token, FIDA, powers domain registration fees, governance, staking, and premium name auctions.
Key Features
- Decentralized Domain Registry: Securely map human-readable names (e.g.,
alice.sol) to Solana wallet addresses, SPL tokens, NFTs, and other on-chain resources. - Fast & Low-Cost: Built on Solana’s high-throughput network to deliver sub-second transactions and minimal fees for domain registration and resolution.
- FIDA Token Utility: Pay for domain registrations, participate in governance votes, stake for premium auction access, and earn rewards.
- Community Governance: FIDA holders can propose and vote on protocol upgrades, parameter changes, and ecosystem initiatives through the SNS DAO.
Use Cases
- Web3 Identity: Replace long wallet addresses with memorable domain names for DeFi, NFTs, and dApp interaction.
- Decentralized Websites & dApps: Host static sites and decentralized applications under SNS domains.
- NFT Domain Marketplace: Buy, sell, and trade exclusive Solana-based domain names in a permissionless marketplace.
Technical Highlights
- Built on Solana: Leverages Solana’s proof-of-stake consensus for scalability, security, and cost efficiency.
- Open-Source & Composable: Integrates with wallets, DeFi protocols, marketplaces, and cross-chain bridges.
Token Name: Solana Name Service Symbol: FIDA
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