PANews reported on May 14 that Solana domain name service sns.sol (formerly Bonfida) said its token generation activity has gone live, with 40% of the supply dedicated to "early and new supporters". Users need to apply for SNS tokens through wallets holding ".sol domain names" by August 11. The newly launched SNS token is intended to replace the FIDA token previously issued by Bonafida. Bonafida called FIDA's token economic model "unsustainable" this month and could not meet the needs of .sol holders.
Earlier this month, the project said that 20% of the total supply had been “claimed” and that it had “a new team, a new mission, and a clear focus.” The announcement came on the same day that Bonafida claimed that FIDA’s token economics were unsustainable.
