The Solana Name Service (SNS), a decentralized naming protocol on the Solana blockchain, has launched its SNS token to decentralize governance and align the project’s future with its user community.

Solana Naming Protocol Launches Governance Token with 10 Billion Supply

The SNS token, with a total supply of 10 billion, is designed to grant .sol domain holders decision-making power over protocol upgrades, ecosystem incentives, and development priorities. Its distribution allocates 40% to existing .sol holders, Solana communities, and partners, emphasizing rewards for early adopters.

Another 20% is reserved for future community incentives, while 26.25% will fund ecosystem growth through partnerships and projects. Core contributors receive 8.75% (locked for four years), and 5% is allocated to liquidity pools.

SNS aims to simplify blockchain interactions by converting complex wallet addresses into human-readable .sol domains, such as “username.sol.” These domains serve as digital identities, enabling streamlined transactions, decentralized website hosting, and integration with Web3 applications. Subdomains further expand utility, supporting community structures, organizational hierarchies, and decentralized physical asset management.

Solana Name Service explained that key advantages include perpetual ownership of domains, low transaction fees via Solana’s infrastructure, and seamless ecosystem integration. Over 270,000 .sol domains have been registered to date, with 150 projects leveraging the protocol for user-friendly blockchain access.

The token’s governance framework, according to the white paper, allows holders to vote on proposals, including funding allocations and technical upgrades. SNS aims to foster a self-sustaining ecosystem where active participation is incentivized through token rewards tied to usage and contributions.

Future steps include phased token claims for eligible users and detailed guidance for community involvement. The rollout aims to highlight SNS’s shift toward a decentralized model, prioritizing long-term resilience and user-driven innovation.

#binance #wendy #bitcoin $BTC $ETH $SOL