Solana Name Service Drops SNS Token—40% Reserved for Airdrop Frenzy
Solana’s answer to Ethereum’s ENS just made its power play—launching the SNS token with a whopping 40% earmarked for airdrops. Cue the speculative frenzy.
Breaking it down: The Solana Name Service, which simplifies crypto addresses into human-readable names (like ’wallet.sol’), is betting big on decentralization. Or at least, the appearance of it—because nothing says ’community-owned’ like dumping nearly half the supply into the market overnight.
Why it matters: Airdrops have become crypto’s favorite marketing gimmick—part loyalty reward, part liquidity injection, and entirely a way to avoid the SEC’s glare (for now). This one’s no different—except it’s happening on Solana, the chain that keeps bouncing back from outages like a blockchain phoenix.
The cynical take: Another day, another token drop where early adopters win and retail chases the pump. But hey—at least the transaction fees will be cheap. For now.
What’s Changing?
Previously known as Bonfida, the team behind SNS had also launched FIDA, a token that was mainly tied to the Serum DEX. But as the focus shifted toward decentralized identity and domain names on Solana, the team decided it was time for a token that better fit the future of the .sol ecosystem.
Enter: the SNS token.
This new token is meant to directly support the community of .sol domain holders, builders, and early adopters. The team says SNS will create a more sustainable incentive system—one that puts domain users first.
Breaking Down the Tokenomics
According to the official announcement, the total supply of SNS is capped at 10 billion tokens. Here’s how it’s being allocated:
- 40% for the airdrop
- 26.25% for ecosystem development
- 20% for community initiatives in the future
- 8.75% for project values and contributors
- 5% for liquidity provision
The 40% airdrop is the clear headliner here. Half of this—so, 20% of the total supply—is reserved specifically for .sol domain holders who stuck with the project through market ups and downs. The rest will go to early supporters, active community members, and developers who have built with SNS over time.
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
How to Claim the Airdrop
If you’ve bought a .sol domain in the past (especially before 2022), you might already be eligible. SNS has set up a tool on sns.sol to check your wallet and claim your tokens. Several users on X (formerly Twitter) have already reported getting surprise allocations—some tied to domains they registered years ago.
Solana Name Service aka @sns is launching a new SOL token $SNS
(For OGs, @sns used to be Bonfida)
A generous 40% of the supply is being dropped to early and new supporters!!
I cannot believe I’m about to get a huge airdrop for stuff I bought 4 years ago pic.twitter.com/TCKMaJxQ9i
“A generous 40% of the supply is being dropped to early and new supporters!! I cannot believe I’m about to get a huge airdrop for stuff I bought 4 years ago,” shared one excited user.
The Good and the Risky
While the massive airdrop is exciting, there are risks too. With 40% of the supply hitting the market for free, the possibility of mass sell-offs is real, especially from users looking to cash in right after listings.
That much free supply? Yeah, it could trigger some early sell-offs—ZORA-style. To avoid that mess, SNS is cooking up liquidity plans and giving holders more reasons to stick around long-term.
If SNS can successfully integrate with Solana’s wider decentralized identity ecosystem, that could also help drive more demand and reduce selling pressure.
The launch of the SNS token marks a fresh chapter for Solana Name Service, one that’s firmly focused on rewarding the community and growing the .sol domain space. By realigning with its users and setting up a strong tokenomics model, SNS is positioning itself as a key player in the decentralized identity world on Solana.
But as always in crypto, users should keep an eye on how the market responds, especially in the first few weeks after the airdrop.
Also Read: Solana’s Emergency Patch Sparks Decentralization Debate
