PANews reported on May 14 that, according to The Block, the Solana domain service sns.sol (formerly Bonfida) stated that its token generation event has been launched, with 40% of the supply specifically allocated to "early and new supporters". Users need to claim SNS tokens through wallets holding ".sol domains", with a deadline of August 11. The newly launched SNS token aims to replace the previously issued FIDA token by Bonafida. Bonafida stated this month that FIDA's token economic model is "unsustainable" and unable to meet the needs of .sol holders.
Earlier this month, the project stated that 20% of the total supply has been "claimed" and that it has a "new team, new mission, and clear focus". This announcement was released on the same day Bonafida claimed the token economics of FIDA were unsustainable.
