Solana Name Service Launches Token Generation Event
Solana Name Service (SNS) announced the launch of its Token Generation Event (TGE) on Tuesday, allowing eligible users to claim their new native token, SNS, with 40% of the total supply allocated to “early and new supporters.”
According to the official article, users who hold a .sol domain before the snapshot [Taiwan Time (UTC+8) May 1, 2025, 7:59:59] may be eligible to claim $SNS. Users can enter their domain, address, or link related wallets on the airdrop claim page to check their eligibility, with the token claim deadline set for August 11.
Solana Name Service is a “decentralized naming protocol” built on the Solana blockchain, aiming to simplify user interactions within the Web3 ecosystem. Users can pair complex blockchain wallet addresses with an easily recognizable name, such as “yourname.sol.” According to the official website, the project currently has 12.7 million .sol holders.
Initially promoted by Bonafida, Solana Name Service introduced a new leadership team last year, and the new SNS token appears to replace the previously issued FIDA token. Bonafida previously stated that the FIDA tokenomics were unsustainable, failing to provide “the consistency or incentive model required by .sol domain holders.”
According to the announcement, the total supply of SNS tokens is 10 billion, with 40% distributed through airdrops to early adopters and community members, both new and existing; 20% allocated for future issuance and community support; 26.25% for ecosystem development; 8.75% for core contributors; and 5% for liquidity.
As of the publication of this article, SNS was trading at $0.0034, with a market capitalization of approximately $15.92 million, according to CoinMarketCap.
