Bonfida is a protocol on Solana that created the "Solana Naming Service" or SNS. With SNS, you can create a domain name that links to your wallet address. This domain can be used as a replacement for sending and receiving payments, adding a social component to crypto.
How do Squads Protocol users benefit from this integration?
By abstracting away wallet addresses, everyday crypto activities such as sending & receiving crypto and accounting for on-chain transactions become a much easier process. Instead of needing to remember a long string of random letters and numbers, Squads Protocol users can simply enter .sol domains, simplifying the entire process.
How to send crypto to .sol domains?
Sending crypto to .sol domains via Bonfida's SNS is simple. Simply enter the .sol domain instead of the wallet address.