SNEK Core Contributor Vows Meme Coin Will Drive Cardano Growth “Again and Again” Despite Treasury Funding Clash

The SNEK meme coin community is standing firm in its belief that it has significantly boosted Cardano adoption and deserves greater recognition within the ecosystem. In an August 7 post on X, core contributor Rami reignited the debate about SNEK’s relevance, declaring that the token will push Cardano forward “again and again.”

Rami stressed that SNEK has already played a vital role in attracting users to Cardano and will continue to do so. His comments follow a recent clash between the SNEK team and Cardano founder Charles Hoskinson over treasury funding.

Dispute Over $3.9 Million Treasury Funding Proposal

The disagreement began when the SNEK team submitted a proposal to withdraw 5 million ADA (worth about $3.9 million) from the Cardano treasury. The funding was intended to secure listings for SNEK on more top-tier exchanges.

To justify the request, the SNEK team presented its track record. More than 42,000 wallets currently hold SNEK, the largest holder count among Cardano native tokens. SNEK also leads Cardano in trading activity, with over 2 billion ADA in total trading volume. The token has achieved listings on major exchanges such as Kraken and Crypto.com, all funded by the community without treasury support.

Despite these achievements, Hoskinson opposed using treasury funds for exchange listing fees. He insisted that no project, including Midnight, Cardano’s upcoming privacy-focused blockchain, would receive such funding. Instead, he proposed restructuring SNEK’s request into a bond repayable over three years.

SNEK Community Pushback

Hoskinson’s stance did not sit well with many SNEK supporters. While he emphasized his appreciation for the community, critics argued that the refusal to fund listings highlighted a broader lack of institutional support for Cardano native tokens. Some members claimed SNEK had done more to promote Cardano adoption than other projects, warning that without SNEK, the ecosystem could lose significant traction.

The debate slowly cooled, but Rami’s latest statement has brought it back into focus. His tweet suggests that even if key figures like Hoskinson underestimate their contributions, SNEK will persist in strengthening Cardano’s growth and adoption.

SNEK Maintains Strong Market Momentum

Despite the funding dispute, SNEK continues to lead the Cardano token space. The coin rallied 16.63% in the past 24 hours and now ranks 218th globally by market cap, with a valuation of $310 million.

As the discussion over SNEK’s place in Cardano’s ecosystem continues, the meme coin’s supporters remain committed to proving its long-term value, both as a driver of network activity and as a symbol of community-led growth.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.