Solana Name Service Introduces $SNS Token, Offering 40% Airdrop to Loyal Supporters

2025/05/07 18:19

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Solana Name Service Rolls Out $SNS Token With Major Airdrop Plan

On 6 May, the Solana Name Service (SNS), previously known as Bonfida, officially announced the launch of its native token $SNS, accompanied by a detailed token distribution strategy.

40% of the total supply will be set aside for an airdrop aimed at rewarding long-time supporters and engaging new users.

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
— sns.sol (@sns) May 6, 2025

New Direction After FIDA Phase-Out

Bonfida, once tied closely to the Serum ecosystem via its FIDA token, has now shifted focus entirely to domain infrastructure with .sol domains.

With FIDA no longer aligned with its current direction, SNS introduced the $SNS token to serve the decentralised identity needs of the Solana community.

Solana Name Service, formerly known as Bonfida, shared plans to launch a new "community token" next week. Core focus seems to be improving token distribution, with 40% allocated to the community through the Genesis Airdrop.$FIDA token holders will be eligible to claim a portion… pic.twitter.com/NlJosvVWpx
— aj (@0xwatercup) May 6, 2025

The new token is designed to build long-term incentives around .sol domains and create a self-sustaining ecosystem focused on user ownership and utility.

10 Billion SNS Tokens With 40% Reserved For Community Drop

The total supply of $SNS is capped at 10 billion tokens.

A substantial 40% of this — equivalent to 4 billion tokens — is allocated to an airdrop for both early backers and recent supporters of the platform.

According to the SNS team, 20% of this airdrop portion is specifically earmarked for holders of .sol domains, many of whom have supported the project through bearish periods.

Solana Name Service checker is live for the $SNS token. Tokenomics from their whitepaper: https://t.co/EpgDIqpIXp pic.twitter.com/deFSWyG19h
— loo (@loo_here) May 6, 2025

Other recipients include developers building with SNS tools and contributors who helped maintain the project’s growth during the crypto downturn.

“I Cannot Believe I’m About To Get A Huge Airdrop”

The announcement sparked immediate buzz across crypto communities.

One X user, who has acquired .sol domains in 2021, posted,

“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,”

He now qualifies for the token drop.

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
— Solana Sensei (@SolanaSensei) May 6, 2025

Meanwhile, early supporters can now connect their wallets to check their eligibility and allocation amount for the SNS airdrop.

SNS Airdrop Allocation Checker is Live! 🪂

The Solana Name Service [@sns] is launching its token, $SNS, soon. Check if you’re eligible for the airdrop.

✅ Check here: https://t.co/WCLkNpcdKl

Paste your Solana wallet address to check.

Eligibility: Hold a .sol name.

With a… pic.twitter.com/VgpDjhfxx2
— Airdrop Adventure 🧭 (@Airdrop_Adv) May 6, 2025

Airdrop Brings Attention But Comes With Risks

While the airdrop has successfully drawn attention to the SNS launch, it raises concerns about potential market volatility.

Large-scale airdrops, as seen in previous token launches such as ZORA, often result in early recipients selling off their tokens quickly, creating downward pressure on the token’s price.

To prevent rapid sell-offs, the SNS team will need to implement strong liquidity mechanisms and long-term engagement initiatives.

These may include staking options, governance participation, or future incentives tied to holding $SNS tokens.

There is also potential for deeper integration of decentralised identity services within Solana, which could strengthen long-term demand for the token.

However, the absence of a clear roadmap adds an element of uncertainty to the airdrop's long-term impact.

I get it people used to buy .sol with FIDAs, but it went dirt cheap that it has no utility, before announcing new token they should have come up with some strategy for FIDA holders and proper communication. The account just hype-retweeting airdrops and sus on FIDA posts.
— Harold Zen (@Harold_Zen) May 6, 2025

Why Traders Should Watch The $SNS Listing Closely

With the token expected to be listed soon, traders are keeping a close eye on liquidity events and exchange launches.

Significant trading volumes and price swings are likely as the 40% airdrop begins unlocking and circulating on-chain.

Observers believe this could result in a noticeable uptick in activity across Solana, boosting both network usage and transaction fees.

As Solana’s identity layer takes shape, SNS’s token strategy signals an effort to tie token value to real utility through domain ownership and on-chain identity.

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Solana Name Service Introduces $SNS Token, Offering 40% Airdrop to Loyal Supporters

Solana Name Service Rolls Out $SNS Token With Major Airdrop Plan

New Direction After FIDA Phase-Out

10 Billion SNS Tokens With 40% Reserved For Community Drop

“I Cannot Believe I’m About To Get A Huge Airdrop”

Airdrop Brings Attention But Comes With Risks

Why Traders Should Watch The $SNS Listing Closely

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