The SNS token has been launched by the Solana Name Service (SNS), a decentralized naming protocol on the Solana blockchain, with the aim of decentralizing governance and aligning the project’s direction more closely with its community of users.
A total supply of 10 billion has been assigned to the SNS token, which has been structured to provide .sol domain holders with voting authority on protocol enhancements, development priorities, and ecosystem incentives. Of this supply, 40% has been allocated to current .sol holders, Solana-based communities, and affiliated partners, with particular emphasis placed on rewarding early participants.
Solana Naming Protocol Introduces Governance Token Featuring 10 Billion Total Supply
An additional 20% has been set aside for upcoming community incentives, while 26.25% is intended to support ecosystem expansion via collaborations and new initiatives. Core contributors have been granted 8.75%, which will remain locked for a period of four years, and 5% has been designated for allocation to liquidity pools.
The goal of SNS is to enhance blockchain usability by transforming intricate wallet addresses into easily readable .sol domains, such as “username.sol.” These domains are utilized as digital identities, facilitating smoother transactions, hosting of decentralized websites, and seamless integration with Web3 platforms. Additional functionality is provided through subdomains, which are employed to support community frameworks, organizational structures, and the decentralized management of physical assets.
It was explained by Solana Name Service that major benefits involve lifetime ownership of domains, minimal transaction costs enabled by Solana’s infrastructure, and smooth integration across the ecosystem. To date, more than 270,000 .sol domains have been registered, and the protocol has been utilized by 150 projects to offer more accessible blockchain interactions.
As outlined in the white paper, the governance structure of the token has been designed to permit holders to cast votes on various proposals, such as funding distribution and technical improvements. A self-sustaining ecosystem is intended to be cultivated by SNS, where active involvement is encouraged through token-based rewards linked to user activity and contributions.
Upcoming initiatives will involve a phased distribution of tokens to eligible users, accompanied by comprehensive instructions to support community engagement. The rollout has been designed to emphasize SNS’s transition toward a decentralized framework, with a focus on sustainable growth and innovation led by its user base.
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