Solana name service provider SNS announced on Friday the launch of a new token, SNS, with a supply of 10 billion tokens. There will be no presale of any kind for the SNS tokens.
At the time of writing, SNS is currently trading at $0.06409, down 14% in the last 24 hours.
The crypto company said that the allocation of the tokens to core contributors will be subject to a lockup period of four years (a 12-month cliff period followed by linear unlocking over 3 years). The company also noted that the allocation to ecosystem growth will be subject to a total lockup period of four years.
The firm stated that the token airdrop check page is live, where 40% of the token’s supply will be distributed to early and new supporters. Half the 40%, will be issued to .sol domain name holders, SNS builders, and bear market supporters. The other half will be claimed by eligible SNS LFG Campaign participants after the conclusion of the LFG Campaign.
According to SNS, the LFG Campaign will launch after the SNS Genesis Airdrop. SNS noted that the LFG will be packed with missions, rewards, tutorials, collaborations with Solana projects, and ways for users to level up their role in the ecosystem.
SNS acknowledged that 26.25% of the token’s total supply will be devoted to growing the ecosystem. The firm said the tokens will be unlocked linearly over four years, starting from the Token Generating Event.
5% of the token’s total supply will be assigned for liquidity provisions, while 8.75% of the total supply will be for core contributors, who will be locked for a total of 4 years starting from the TGE.
SNS revealed the tokens will be available on Jupiter and other major Solana DEXs. The firm also added that listings of SNS tokens on centralized exchanges may follow depending on demand.
The crypto company said that loyal supporters of the SNS community who hold a .sol domain name and active SNS users who set up a primary .sol domain will be eligible for allocations in the Genesis Airdrop. The firm also mentioned that the top 50 .sol domain buyers, Solana communities, and active SNS ambassadors also qualify to be allocated tokens in the TGE.
SNS revealed that the claim for the Genesis Airdrop will open at 15:00 UTC on May 13, 2025, and remain open for 90 days. The firm added that eligible wallets will be able to claim SNS tokens until 15:00 UTC on August 13, 2025.
