SNEK is one of the first popular memecoins with its culture originating from the web3 space. It launched during the bear market and quickly attracted one of the most dedicated and vocal communities. SNEK sparked a movement of unity across the Cardano ecosystem and garnered attention like no other project had before.
The initial SNEK supply was 76,715,880,000 tokens. At launch, 90% of the supply was distributed in a public presale and LP. SNEK is a deflationary memecoin. It features multiple burning mechanisms in which some tokens are removed from circulation at regular intervals, increasing buying pressure and decreasing supply in a sustainable manner.
SNEK is a native token on the Cardano blockchain, which is secured by the Proof-of-Stake (PoS) consensus mechanism. Decentralized validators, known as Stake Pool Operators (SPO), process transactions and secure the network.
SNEK can be traded on DexHunter, MEXC, LBank, Bitrue, BingX, CoinEx, ChangeNOW and more.
Cryptocurrency is a form of digital or virtual currency that uses cryptography for security. It operates on decentralized networks (blockchains) and enables secure, peer-to-peer transactions without the need for intermediaries like banks.
ADA is the native cryptocurrency of the Cardano blockchain. It is used to power transactions, staking, and smart contract executions on the platform.
Cryptocurrencies are stored in digital wallets. There are several types of wallets, including hardware wallets (physical devices), software wallets (desktop or mobile apps), and web wallets (online services).
A Cardano native asset refers to any digital asset or token that is created and operates natively on the Cardano blockchain. These native assets are distinct from the platform's native cryptocurrency, ADA. While ADA serves as the primary means of value transfer and network fees on the Cardano blockchain, native assets enable the creation and management of custom tokens representing unique assets or utility on the platform.
Cardano is an open-source blockchain platform that aims to provide a more secure and sustainable infrastructure for the development of decentralized applications and smart contracts.
ADA can be purchased on various cryptocurrency exchanges. You can use major fiat currencies or other cryptocurrencies like Bitcoin to buy ADA.
Cardano differentiates itself from Bitcoin by employing a proof-of-stake (PoS) consensus mechanism, which is more energy-efficient compared to Bitcoin's proof-of-work (PoW). Unlike Ethereum, Cardano's development is based on a research-driven approach, aiming to address scalability and sustainability issues.
Unlike regular cryptocurrencies, which often focus on technological advancements, real-world applications, and serious use cases, memecoins are often created as a joke or parody. They rely on humorous names, logos, and marketing strategies to attract attention and community engagement.
SNEK is a memecoin with no intrinsic value or expectation of financial return. There is no formal team or roadmap. The coin is for entertainment purposes only.