Welcoming a New Era

Today, we’re excited to introduce a new token that marks a fresh start for the Solana Name Service ecosystem. This launch isn’t just about better mechanics or smarter design—it’s about doubling down on .sol, uniting and supporting the .sol holder community, and building on the foundation of .sol domains and on-chain identity on Solana.

Why $SNS?

Our journey since 2020 has been marked by incredible highs and unimaginable lows. By an initial sweeping and ambitious vision for a full product suite on Solana, and by major pivots and foundational evolutions of the project and team since then. Following the introduction of new leadership last year, and the official Solana Name Service ecosystem new product launch this year, we’ve spent months listening to and learning from our .sol holders.

What we now know, without a shred of a doubt, is that our .sol community is strong, passionate, and widespread. And as the .sol ecosystem has grown, so have the needs of the community. We hear you: you want more from the future, from .sol and from SNS. We hear the clear demands for a governance token that would allow our .sol community to participate in building the future of SNS.

$SNS is our answer: a cleaner foundation and purpose-built for the future of .sol. The new token is being created for today’s SNS community.

What About $FIDA?

When $FIDA was launched almost five years ago, it brought much-needed utility, incentives, and alignment to some of the earliest builders and users on Solana and Bonfida. At the time, Bonfida was tightly integrated with the Serum DEX, and $FIDA was designed with that ecosystem in mind. But things have changed—dramatically. Solana Name Service (SNS) came later, evolving into a core piece of Solana infrastructure with a very different purpose. Over time, it became clear that $FIDA, while useful in its original context, couldn’t provide the alignment or incentive model that .sol domain holders truly needed. It was never built for the SNS vision.

As SNS has grown, the limitations of $FIDA’s design became more apparent. The tokenomics are not sustainable. The SNS and .sol community is very different from the community of $FIDA holders. The $FIDA distribution is not aligned with long-term goals of the SNS protocol. What once propelled growth eventually began to constrain it. That’s why, today, we’re taking the next step: to unite and properly reward .sol domain holders for their efforts, and bring them closer to align with the SNS ecosystem they support.

Community-led evolutions are natural in crypto—and necessary. $FIDA will continue to serve its existing utility, like the 5% discount, but for SNS to thrive, it needs a community-guided token that reflects its values and vision.

What's Next?

We're rolling out $SNS with care and intention. Over the coming weeks, we’ll share more about distribution, claim mechanics, and how .sol users—past, present, and future—can get involved.

We believe the best communities are the ones that grow with their users. $SNS is our next chapter—one focused on real ownership, broader participation, and long-term resilience, by and for the .sol domain holder community.