Solana launches 10 billion SNS tokens to boost governance

The Solana Name Service (SNS), a decentralised naming protocol on the Solana (CRYPTO:SOL) blockchain, has introduced its SNS token to decentralise governance and involve the community in decision-making.

The SNS token has a total supply of 10 billion units.

It grants holders of .sol domains voting rights over protocol upgrades, ecosystem incentives, and development priorities.

According to the SNS distribution plan, 40 percent of tokens are allocated to existing .sol holders, Solana communities, and partners, rewarding early adopters.

Another 20 percent is reserved for future community incentives, while 26.25 percent is designated for ecosystem growth through partnerships and projects.

Core contributors receive 8.75 percent of tokens, which are locked for four years, and 5 percent is allocated to liquidity pools.

SNS simplifies blockchain interactions by converting complex wallet addresses into human-readable .sol domains, such as “username.sol.”

These domains act as digital identities, enabling easier transactions, decentralised website hosting, and integration with Web3 applications.

Subdomains expand functionality by supporting community structures, organisational hierarchies, and decentralised management of physical assets.

The protocol emphasises perpetual ownership of domains, low transaction fees through Solana’s infrastructure, and seamless integration with the broader ecosystem.

To date, over 270,000 .sol domains have been registered, with 150 projects utilising the protocol to improve blockchain accessibility.

The SNS governance model allows token holders to vote on proposals related to funding and technical upgrades.

The white paper states that active participation is encouraged through token rewards tied to usage and contributions.

Future plans include phased token claims for eligible users and detailed instructions for community engagement.

At the time of reporting, the Solana (SOL) price was $151.89.