Trade

How to list and buy domains on the secondary market

Platform Fees

Trading on sns.id follows a maker-taker fee schedule. Simply put, makers create liquidity on the platform and takers reduce the available liquidity

For example:

When someone places a category bid they increase liquidity by creating more selling opportunities and therefore a "maker". If someone sells into the category bid, they reduce the number of selling opportunities thus decreasing liquidity and are described as a "taker"

Maker/taker instances

• Fixed price: buyer = taker & seller = maker

• Unsolicited offers: buyer = maker & seller = taker

• Category offers: buyer = maker & seller = taker

Fee tier

Fees charged on sns.id are tier-based depending on the user's $FIDA holdings. Holding over a certain amount of $FIDA will either reduce the taker fees charged or rebate makers a fee

Tier	Min FIDA balances	Maker (%)	Taker (%)
0	0	0	3.5
1	1,000	0	3
2	10,000	-0.25	2
3	40,000	-0.3	1.3
4	60,000	-0.5	1

Here's an example:

• Alice holds 43K $FIDA

• Bob holds 0 $FIDA

• Alice lists 1234.sol for 2 SOL (maker)

• Bob buys 1234.sol from Alice (taker)

Maker-taker fee tiers apply to all methods of sale and purchase except peer-to-peer trades

Peer-to-peer trades have a flat fee of 0.02 SOL charged to the trade initiator

Please remember; when your domain is listed it is transferred to an escrow account. As a result, transferring funds to that particular domain WILL result in a loss of funds. Bonfida will not be held liable

1. Fixed price resells

1.1 To buy

To buy a domain for a fixed price visit go to "Browse" and select Fixed listings. Search for your perfect domain either by browsing or making use of the filters

The purchase price and currency are displayed under the domain name

Add the domain to your cart and proceed to checkout. You can add multiple domains to your cart for checkout. Once purchased, all domains will automatically be linked to the purchasing wallet address

Remember to have the currency the domain is listed in as well as SOL to cover the transaction fees

1.2 To sell

Visit your profile page at the top right corner. If you have not yet, connect your wallet first

Click on "View" of the domain you would like to list for a fixed price. Then select "sell domain". Opt for the fixed-price resell method and choose the currency & the price you would like to list for

Manage all your fixed price listings on your profile under "Listings"

2. Category offers

2.1 To place offers

Under "Browse" navigate to "Categories". There you will see a Place category bid button

Here you will be able to place bids for entire categories to get a domain name demarcated under the categories you placed a bid on

Select the category(s) you want to place a bid on. In the next step, enter the amount of SOL you are willing to bid for a single domain and then the number of domains you are looking to buy at that price

Use the "Quick bidding" feature to place the same bid size on the same number of domains for the categories selected

When the category bid is accepted the funds will be transferred to the seller and the domain to the buyer automatically

2.2 To accept offers

The page displays categories that have bids placed on them. From the landing page, this is denoted by an instant sell button

If you own any domains in that category you will be able to sell into it. Click instant sell and then the domain(s) you want to sell

Take note; domains will be sold into the bids available. This means that if you are selling more than one domain your selling price may vary on the bids available

Manage your category offers under "Offers" on your profile page

3. Unsolicited offers

To place an unsolicited offer is a passive way to obtain a domain. Across the platform, you will notice a Make offer option when viewing domains. Any user my place an offer on a domain name, whether it is up for sale or not. Simply select the size of your offer to commit

You may very well receive offers for the domains you own as well. So be sure to check your offers often

Manage your unsolicited offers under the "Offers" tab on your profile

4. Peer-to-peer trading

4.1 Initiating

On your profile select the P2P Trade button and enter the wallet address or domain name of the person you want to initiate a trade offer with

Next, choose the domains you want from your counterparty. You can opt to either just trade domains or increase the offer by opting for your counterparty to add SOL to the trade. In this example, I want to receive both 👨‍🌾 .sol and 0,01 SOL for the trade. After that select your domains (and SOL, if any) you want to trade

Lastly, review the trade summary and add an expiration date if you want. At the bottom of the summary, you will see the service fee which is charged to the trade initiator. Click "Confirm" to finalize it

Manage your P2P trades under "Offers" on your profile page

When you initiate a P2P offer your domain (and SOL, if added) is transferred to an escrow account. If you decide to cancel the trade, your domain as well as the service fees will be sent back to your wallet address

You can trade both native and NFT domains

4.3 Accepting a P2P trade

To see if you have a P2P trade - "View profile" and navigate to the "Offers" tab. You can view a trade summary by clicking on the eye icon. Here you can either accept, reject or make a counteroffer for the trade

If you make a counteroffer, you will become the trade initiator and charged the service fees of the trade

5. NFT marketplace

5.1 Purchase

You can also purchase a domain on most of the popular NFT Marketplaces on Solana. Simply search "Bonfida: Solana Name Service" on any of these marketplaces to start browsing NFT domains

NFT Marketplace
Yawww
Hyperspace
Magic Eden
Tensor
Solanart
Alpha Art
Solsea

If you have purchased an NFT domain you will have to Unwrap your domain to reveal all of its use cases

Find out more about wrapping & unwrapping your domain here

5.2 Sell

To see your domain on an NFT marketplace you first have to wrap your domain into an NFT. Visit your profile, select "View" on the domain you want to sell and click the "Wrap domain into NFT" button

Now visit your favorite marketplace and list your domain like you would with any other NFT