SNEK Core Contributor Claims SNEK Will Push Cardano Forward “Again and Again”

The SNEK meme community is not backing down on its belief that it has significantly impacted the Cardano ecosystem and deserves more recognition.

Core contributor Rami rekindled the hot debate about the SNEK token’s relevance within the Cardano ecosystem in an August 7 tweet. In the post, he emphasized that the meme coin will push Cardano forward “again and again.”

Rami also added that SNEK meme coin has and will continue to bring adoption to Cardano. His tweet reiterates the meme coin community’s stance that it holds high significance to the network amid a recent disagreement with Cardano founder Charles Hoskinson.

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What Went Down Between the SNEK Meme Community and Cardano Founder

Notably, the disagreement began with a proposal from the SNEK team seeking to withdraw 5 million ADA ($3.9 million at press time) from the Cardano treasury to fund listing on more tier 1 exchanges.

Accompanying the proposal was a track record of SNEK’s importance to the Cardano ecosystem. For context, over 42,000 wallets hold SNEK, which is the largest among other Cardano native tokens.

Additionally, SNEK is the most traded token on Cardano, accounting for 2 billion ADA in all-time trading volume. The token has also secured listings in prominent exchanges like Kraken and Crypto.com, all of which were self-funded efforts.

Considering these, the SNEK team sought funding to expand its reach further, a request that Hoskinson asked the community to restructure. He insisted that no one was getting funded from the Cardano treasury to cover listing fees, not even Midnight.

SNEK Community Reacts

Despite Hoskinson stating that he supports the SNEK community, his proposal to restructure the request as a bond repayable in the next three years didn’t bode well with the meme coin’s enthusiasts. This sparked a debate on SNEK’s relevance to the ecosystem, specifically in comparison with the imminent privacy-focused Midnight.

They claimed that this was not just the reason why Cardano-native tokens don’t list on major exchanges, but also highlights the negligence of SNEK’s massive impact on the ecosystem. A user went as far as stating that there would be nothing left on Cardano without SNEK.

While the debate has died down slowly, Rami’s tweet yesterday has rekindled the narrative. His post suggests that although some, like Hoskinson, might not appreciate their efforts, they will continue to help Cardano thrive.

Meanwhile, SNEK continues to lead proceedings in the Cardano ecosystem, rallying 16.63% in the past 24 hours. It currently ranks as the 218th token in the global market cap ranking, with a valuation of $310 million.