Solana Name Service Airdrops 40% of Tokens After FIDA Tokenomics Found Unsustainable

Anna Martynova

Solana Name Service said the token generation event began on Tuesday, with 40% of the supply allocated to existing and new supporters. According to a post on X, users must connect their wallets containing the .sol domain(s) to claim the SNS tokens. The project also said the tokens must be claimed by August 11. Solana Name Service’s website states that it has 127,000 .sol holders.

The new SNS token is intended to replace the previously issued FIDA token. Solana Name Service was initially promoted by Bonfida, which this month said FIDA can no longer provide the alignment or incentive model that .sol domain holders require. Bonfida added that FIDA’s tokenomic is not sustainable.

Earlier this month, the project announced that 20% of the total supply had already been reserved, and that the Solana Name Service had a new team, a new mission, and a clear focus. The announcement came on the same day that Bonfida said that FIDA tokenomic was unsustainable.

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