Overview
Snek (SNEK) is a deflationary memecoin introduced on the Cardano blockchain. Since its launch, it has evolved into a cultural movement and an icon in the web3 world, representing fun and innovation. SNEK has become the most traded token on Cardano, serving as a unifying force within the ecosystem. It brings excitement to its community and plays a leading role in making the crypto space accessible, engaging, and meaningful.
Tokenomics
The total supply of SNEK is 76,715,880,000 tokens, distributed as follows:
- 50% allocated to presale holders.
- 40% designated for initial liquidity on decentralized exchanges such as SundaeSwap and Minswap.
- 2% reserved for marketing efforts, including promotions, community airdrops, contests, and events.
- 5% allocated for utility purposes, encompassing ecosystem development, DeFi applications, partnerships, and project developments.
- 3% set aside as a reserve for exchange listings, additional liquidity, and expansion opportunities.
SNEK employs multiple burning mechanisms to reduce the circulating supply over time, thereby increasing buying pressure and decreasing supply in a sustainable manner.
Community and Cultural Impact
Rooted in internet culture and supported by a dedicated online community, SNEK serves as a vital bridge for web3 onboarding. It aligns with other popular memecoins like Pepe, Bonk, Shiba Inu, and Dogecoin, establishing itself as one of the top meme-based, community-driven cryptocurrencies. SNEK pushes the limits of what a memecoin can achieve, with a vision to bring social and decentralized finance within and beyond the Cardano ecosystem.
Ecosystem and Integrations
The Snek ecosystem encompasses various projects and integrations aimed at expanding its utility and community engagement. Notable projects include:
- Snek.fun: A platform dedicated to community-driven initiatives and entertainment.
- Snek Energy: An energy drink brand associated with the Snek community.
- SNEKbot: A bot designed to facilitate interactions within the Snek ecosystem.
- Snekx: A project focused on providing tools and resources for the community.
These projects contribute to the growth and diversification of the Snek ecosystem, fostering a vibrant and active community.
Market Presence
As of December 2024, SNEK has achieved significant milestones, including:
- Market Capitalization: Approximately $445 million.
- 24-hour Trading Volume: Around $2.7 million.
- Decentralized Exchange Liquidity: Approximately $15.5 million.
These figures reflect SNEK’s substantial presence within the Cardano ecosystem and the broader cryptocurrency market.
Exchange Listings
SNEK’s growing popularity has led to listings on various exchanges, enhancing its accessibility to a wider audience. Notably, SNEK was listed on XT.COM in December 2024, marking an important step in expanding its reach and adoption across different platforms.
Recent Developments
In September 2024, the Snek ecosystem expanded with the launch of Snek.Fun, a memecoin creator platform on the Cardano network. This platform allows users to create tokens for a fee, contributing to increased activity on the Cardano blockchain.
