Rukifong retweetledi
Rukifong
219 posts
Rukifong retweetledi
"Meme coins should drive on-chain activity. Listing them on centralized exchanges (CEXs) works against that goal—users can buy and sell there without interacting with the Cardano network, meaning no fees or engagement on-chain."
✅ This is false. Volume generated on CEXs directly impacts ADA-USD volume and SNEK-ADA volume from arbitrage alone. Our market-maker is already the #1 trader by volume on the chain. More CEXs will increase our contributions to the treasury.
"While CEXs are a key entry point into crypto, only a small percentage of users actually create on-chain wallets. Despite hundreds of millions registered on CEXs, only about 1–5% become on-chain users."
✅ Network effect. When you travel and go other crypto or tech conferences, nobody know that CNTs even exist. Most still think ADA has no smart contracts. This is because our CNTs and ecosystem layer has ZERO visibility on the most used platforms in the industry. Also getting 1-5% users would be an absolute bargain for 5M ADA.
"Snek might help onboard some users, but its impact on Cardano’s overall success is limited."
✅ $SNEK is by far the most traded CNT with 17% of all volume registered on-chain ever. After ADA, it's again by far most used token for Cardano DeFi. Our product @snekdotfun is generating 30% of all trades on the chain. @snek is the biggest brand in Cardano.
"As for marketing, spending 5 million ADA on listing fees isn’t the best use of funds. There are already marketing-focused proposals among the 39 withdrawals that offer better value."
✅ Nothing brings more visibility to a chain than a memecoin succeeding. Memes are adoption and marketing power. Getting a Binance, Coinbase, or Robinhood listing would generate more exposure for the Cardano ecosystem than all 39 withdrawals combined. Retail doesn’t talk about chain upgrades, they talk about memes. I’m not downplaying the other proposals at all; I fully support most of them, they’re necessary. But in terms of marketing impact, there’s no comparison.
"Snek’s current market cap is $244 million. The team has reportedly reserved 10% (currently, around $24 million) for marketing, partnerships, and CEX listings. That’s a substantial budget for a meme coin."
✅ 10% of our token supply was allocated for growth at the very beginning of our journey, more than 29 months ago. We came from nothing to the biggest and most impactful project on Cardano by spending that 10%. The Snek Foundation currently owns only ~1% ($2.4m) and we already spent more than $4 million on CNT infrastructures and integrations that benefit everyone in the ecosystem.
"Paying listing fees from the Cardano Treasury sets a problematic precedent. CEXs typically charge each project individually—it’s not a technical hurdle, it’s a business model."
✅ CEXs listings are key for adoption. The Snek team and the Cardano Foundation (CF) spent 2 months with Kraken engineers to make the exchange support CNTs for our $SNEK listing. Same is happening with Cryptocom, same will happen for others. This is not a recurring expense that every CNT will request money for... it is about paving the way and getting integrations done. Unfortunately for Cardano, $SNEK is the ONLY CNT that qualify for these listings and that's why it should be supported first.
"Decisions must be strategic—not driven by popularity or short-term excitement."
✅ If that 5M ADA (0.26% of the Cardano Treasury) request does get CNTs an entry point and exposure to all the names mentioned in this proposal — Binance, Coinbase, OKX, Bybit, Robinhood, Revolut, eToro, Uphold, etc. — it will be the most strategic proposal ever funded, by far. It would be a major win for the entire Cardano ecosystem.
Cardano YOD₳@JaromirTesar
As a DRep, I’ve voted NO on the proposal to pay listing fees for Snek. I don’t believe this expense is justified. My rationale: I’m happy to see meme coins emerging on Cardano. I appreciate the Snek project and its vibrant community—they represent grassroots creativity and a unique social experiment. That said, I don’t believe meme coin projects should seek ADA from the Treasury. Here’s why. Meme coins should drive on-chain activity. Listing them on centralized exchanges (CEXs) works against that goal—users can buy and sell there without interacting with the Cardano network, meaning no fees or engagement on-chain. While CEXs are a key entry point into crypto, only a small percentage of users actually create on-chain wallets. Despite hundreds of millions registered on CEXs, only about 1–5% become on-chain users. If meme coin teams believe CEX listings benefit their project, they’re free to pursue that path—but it shouldn’t be funded by the Cardano Treasury. Snek has around 40,000 users, while Cardano has over 1.3 million ADA stakers. ADA remains the primary onboarding asset, and we shouldn’t downplay its central role. Snek might help onboard some users, but its impact on Cardano’s overall success is limited. As for marketing, spending 5 million ADA on listing fees isn’t the best use of funds. There are already marketing-focused proposals among the 39 withdrawals that offer better value. On liquidity, our goal should be to strengthen ADA/stablecoin pairs (like USDM, USDA), not ADA/SNEK. That’s a more strategic path for Cardano’s growth. Snek’s current market cap is $244 million. The team has reportedly reserved 10% (currently, around $24 million) for marketing, partnerships, and CEX listings. That’s a substantial budget for a meme coin. Given these resources, additional funding from the Cardano Treasury isn’t necessary. One current withdrawal proposal requests ₳3,126,000 to support listings on top-tier CEXs: “Ecosystem Exchange Listing and Market Making service.” I suggest the Snek team collaborate with this group to support CEX listings across the entire Cardano ecosystem, rather than pursuing separate funding. Paying listing fees from the Cardano Treasury sets a problematic precedent. CEXs typically charge each project individually—it’s not a technical hurdle, it’s a business model. If we fund Snek’s listing, other projects will expect the same, leading to unsustainable demands on Treasury funds. We must be clear: the Treasury is not meant to cover listing fees. Projects should plan and fund these efforts independently. I understand that my perspective may disappoint members of the Snek community, and I genuinely regret that. However, DReps have a responsibility to think long-term when it comes to Treasury spending. Decisions must be strategic—not driven by popularity or short-term excitement. Cardano is being built as a decentralized global financial and social operating system. Meme coins like Snek absolutely have a place in that vision, but they are not the core priority. I also hope the community gives the same level of attention and scrutiny to the other 39 current withdrawal proposals as they have to those submitted by the Snek team. Every proposal deserves thoughtful consideration. *** If you'd like to support my work, consider delegating to the MANDA pool or backing me as a DRep. Your support helps drive meaningful contributions to the Cardano ecosystem. MANDA Pool ID: pool1c3fjkls7d2aujud8y5xy5e0azu0ueatwn34u7jy3ql85ze3xya8 My DRep ID: drep1km69g7ksf8t5g0h9d9tkrcd2tezxelx0wtr76rv2mrkl5nzd6v3
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Rukifong retweetledi
🚨 New Swap Alert 🚨
@SonicLabs is now available to swap through Ledger Live!
You can now swap Sonic tokens directly in Ledger Live, without ever leaving the security of the Ledger ecosystem – no third party needed.
Happy swapping! 🔄
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Rukifong retweetledi
Sonic (S) is now live on coinbase.com & in the Coinbase iOS & Android apps. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets. coinbase.com/price
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Rukifong retweetledi
Rukifong retweetledi
June 24, 2025.
$S on @Coinbase.
Coinbase Assets 🛡️@CoinbaseAssets
Coinbase will add support for Sonic (S) on the Sonic network. Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.
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Rukifong retweetledi
Coinbase will add support for Sonic (S) on the Sonic network. Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.
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Rukifong retweetledi
Sonic + your favorite tokens are now on Ledger Live!
Your favorite @SonicLabs ecosystem tokens — $SHADOW, $BEETS, $METRO, $ANON, and more — are now available on Ledger Live!
That’s right — you can now send and receive these tokens seamlessly, all while keeping them secure within the Ledger ecosystem. 🔐
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Rukifong retweetledi
Rukifong retweetledi
Rukifong retweetledi
Open Network has officially launched, marking a groundbreaking moment for all Pioneers! With external connectivity now enabled, Pioneers can engage in transactions beyond the Pi ecosystem, connect with KYB-verified businesses, and access new integrations like centralized exchanges.
Want to explore all the new possibilities? Go to the Pi mining app home screen to watch a video from Pi Network founder, Chengdiao Fan, and read the official announcement. Discover how Open Network unlocks a new era for Pi and how you can be part of it!
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Rukifong retweetledi
Aave's TVL on @SonicLabs nearly doubled over the weekend.
$70M → $134M 👻
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Rukifong retweetledi
The Avalanche Card is designed for a world where crypto isn’t just held—it’s used. A new way to connect, without relying on mainstream tools.
Use your AVAX anywhere Visa is accepted, available digitally & physically for ultimate convenience.
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Rukifong retweetledi
Announcing Sonic Summit.
📍 Vienna, Austria
📆 May 6–8, 2025
City-wide Sonic takeover of historic venues for three days of events, networking, coffee, cake, and more.
Get your early bird ticket now:
🎟️ soniclabs.com/summit
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