The Solana Name Service provider announced the launch of a new token, SNS. The firm also revealed that 40% of the token supply will be airdropped to early and new supporters, of which 20% has been allocated to .sol domain name holders, SNS builders, and bear market supporters.
The company’s team said the token launch and airdrop aim to incentivize community engagement and adoption of decentralized identity services on Solana. The firm allocated 20% of the token’s total supply to future emissions and SNS & Solana communities.
Solana name service launches SNS token
THE SOLANA NAME SERVICE IS LAUNCHING A NEW TOKEN: $SNS.
40% of the supply is being dropped to early & new supporters.
Identity on @solana isn’t coming. It’s here. pic.twitter.com/Dmgu4teqYD
— sns.sol (@sns) May 6, 2025
The Solana domain service (formerly Bonfida) had introduced the FIDA token, which was designed with the Serum ecosystem in mind. The firm said it realized that while FIDA was useful in its initial environment, it could not provide the incentive model that .sol domain holders truly needed. Bonfida also announced that its DEX features didn’t fully align with the specific requirements and future vision for SNS governance and community incentives.
“SNS was created to better align the growth of the Solana Name Service with the builders, creators, and .sol holders who believe in it. Over time, we’re exploring ways for SNS to help support community initiatives and the expansion of the .sol ecosystem, driven by its community.”
The Solana name service provider SNS revealed on May 6 the upcoming launch of a new token, SNS, with a supply of 10 billion tokens. The crypto company acknowledged there were no presales of the SNS tokens of any kind. At the time of publication, SNS is currently trading at $0.06409, a 14% drop in the last 24 hours.
SNS stated that the allocation of the tokens to core contributors will be subject to a lockup period of four years (a 12-month cliff period followed by linear unlocking over 3 years). The company also noted that the allocation to ecosystem growth will be subject to a total lockup period of four years.
SNS kicks off its token airdrop
The firm said the token airdrop check page is live, where 40% ($4 billion) of the token’s supply will be distributed to early and new supporters. Half the 40%, $2 billion, will be issued to .sol domain name holders, SNS builders, and bear market supporters. According to the firm, the other half will be claimed by eligible SNS LFG Campaign participants after the conclusion of the LFG Campaign.
The crypto firm also launched its LFG Campaign after the SNS Genesis Airdrop. SNS acknowledged that the LFG will be packed with missions, rewards, tutorials, collaborations with Solana projects, and ways for users to level up their role in the ecosystem.
SNS acknowledged that 26.25% of the token’s total supply will be devoted to growing the ecosystem. The firm said the tokens will be unlocked linearly over four years, starting from the Token Generating Event.
5% of the token’s total supply will be assigned for liquidity provisions, while 8.75% of the total supply will be for core contributors, who will be locked for a total of 4 years starting from the TGE.
SNS revealed the tokens will be available on Jupiter and other major Solana DEXs. The firm also added that listings of SNS tokens on centralized exchanges may follow depending on demand.
The crypto company said that loyal supporters of the SNS community who hold a .sol domain name and active SNS users who set up a primary .sol domain will be eligible for allocations in the Genesis Airdrop. The firm also mentioned that the top 50 .sol domain buyers, Solana communities, and active SNS ambassadors also qualify to be allocated tokens in the TGE.
SNS revealed that the claim for the Genesis Airdrop will open at 15:00 UTC on May 13, 2025, and remain open for 90 days. The firm added that eligible wallets will be able to claim SNS tokens until 15:00 UTC on August 13, 2025.
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