Question 1

What is FIDA used for in SNS?

Accepted Answer

FIDA can be used in Solana Name Service (SNS) as a payment token for .sol domain registration, and as the denomination for fixed-price domain listings or offers in the Marketplace. Here, it serves as a unit of payment or quotation; the domain name itself remains the object being registered, held, and traded. Therefore, when registering, users first select an unheld name and a payment method; in marketplace transactions, they must check whether the currency specified by the seller's listing or the buyer's offer is FIDA. Availability of FIDA as a payment option is different from every transaction necessarily accepting FIDA; the payment or offer options displayed on the page control in practice.

Question 2

Can I register a .sol domain name with FIDA?

Accepted Answer

Yes. SNS's registration guide lists FIDA as an available payment token for registering an unheld .sol domain name, and states that paying with FIDA provides a 5% discount. The discount applies to the registration payment stage and is not equivalent to a discount on a domain's resale price in the marketplace. The process is to connect a wallet, enter and confirm a registrable name, then select FIDA from the available payment methods and sign the transaction. Payment can be completed only if the wallet has sufficient FIDA and the network fees required for the on-chain transaction.

Question 3

Can FIDA be used for SNS domain marketplace transactions?

Accepted Answer

Yes. FIDA is one of the offer currencies supported by the SNS Marketplace, for both fixed-price sales and direct offers to domain holders. A fixed price is a price the holder sets in advance as acceptable; a direct offer is a proposal from a buyer to the holder, and whether it is completed depends on whether the holder accepts it. The amount and currency should be checked before a transaction: the same domain can be listed in different currencies or receive offers in different currencies, and the amount of a FIDA offer cannot be treated as the same value as the amount of another token. Before accepting an offer or purchasing, the wallet must complete the applicable on-chain signature.

Question 4

What is the relationship between a .sol domain name and FIDA?

Accepted Answer

A .sol domain name is an on-chain name in SNS that can be registered and held, and can be associated with records such as wallet addresses and website links; FIDA is one of the tokens users can select for registration payments or marketplace offers. They are not the same type of asset: a domain name carries the name and its records, while FIDA serves the denomination function for payments or offers. This distinction also determines the focus of different operations: managing a domain is required to set or update domain records; a payment token must be selected during registration; and when buying or selling a domain, the currency, amount, and transaction conditions of the listing or offer must be confirmed.

Question 5

How should costs be understood when registering or purchasing a .sol domain name with FIDA?

Accepted Answer

When using FIDA to register a domain, domain registration fees should be distinguished from network transaction fees. The registration fee is the amount paid to obtain an unheld name, and the guide states that selecting FIDA provides a 5% discount; submitting the transaction also requires the wallet to be able to pay Solana network fees. A marketplace purchase is not registration: its cost is determined by the seller's fixed price or the offer you accept, and depends on the stated currency. Therefore, the registration discount cannot automatically be applied to secondary-market transactions.

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Frequently Asked Questions About SNS (FIDA)

What is FIDA used for in SNS?

Can I register a .sol domain name with FIDA?

Can FIDA be used for SNS domain marketplace transactions?

What is the relationship between a .sol domain name and FIDA?

How should costs be understood when registering or purchasing a .sol domain name with FIDA?