Solana Name Service <code>sns.sol</code> will launch a new token, SNS.

BlockBeats News, May 6th, the Solana ecosystem domain service sns.sol (formerly Bonfida) announced the launch of a new token, SNS. It stated that about five years ago, when the FIDA token was launched, Bonfida was closely integrated with the Serum DEX, and FIDA's design also heavily considered the Serum ecosystem. Over time, the team gradually realized that while FIDA was useful in its initial context, it could not provide the synergies or incentive models that .sol domain holders truly needed. It was never built for the SNS vision.

As SNS developed, the limitations of the FIDA design became more apparent. Its tokenomics were unsustainable. The SNS and .sol community were vastly different from the FIDA holder community. FIDA's distribution did not align with the long-term goals of the SNS protocol. The factors that once drove growth eventually began to hinder it. Therefore, today, the team is taking a new step: to unite and properly 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.