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Solana Name Service sns.sol will launch a new token, SNS.

2025.05.06 23:08:17

On May 6th, the Solana ecosystem domain service sns.sol (formerly Bonfida) announced the launch of a new token, SNS. It was stated that approximately five years ago, when the FIDA token was launched, Bonfida was closely integrated with the Serum DEX, and the design of FIDA also gave significant consideration to the Serum ecosystem. As time went by, the team gradually realized that although FIDA was useful in its initial context, it could not provide the synergies or incentive models that the.sol domain holders truly needed. It was never designed for the SNS vision. As SNS developed, the limitations of the FIDA design became more evident. Its tokenomics were not sustainable. The SNS and.sol communities were significantly different from the FIDA holder community. The distribution of FIDA did not align with the long-term goals of the SNS protocol. The factors that once drove growth eventually started to impede it. Therefore, today, the team is taking a new step: to unite and appropriately reward the efforts of.sol domain holders, making them more closely integrated into the SNS ecosystem they support. In the coming weeks, the team will share more information about distribution, claiming mechanisms, and how.sol users (past, present, and future) can participate.
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