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The community behind SNEK, a Cardano-based token, is once again pushing back against what they believe is a lack of recognition for their efforts. A core member of the project, known as Rami, posted on August 7 that SNEK continues to play a key role in the Cardano ecosystem — and will keep doing so regardless of how others view it.
His remarks come just weeks after tension surfaced between the SNEK team and Cardano founder Charles Hoskinson, centering around a funding proposal from the project’s contributors. Rami’s latest post on social media adds fuel to the ongoing conversation, suggesting the token is driving real activity and adoption on Cardano.
The Funding Dispute That Got the Community Talking
The situation first gained attention when the SNEK team submitted a proposal to the Cardano community, requesting 5 million ADA (valued at approximately $3.9 million) from the project’s treasury. The funds would be used to support listings on larger cryptocurrency exchanges to broaden access to SNEK.
To justify the request, the team shared performance stats. SNEK is currently held by over 42,000 wallets — the highest holder count among all tokens built on Cardano. The asset has also generated more than 2 billion ADA in all-time trading volume, making it the most actively traded token on the network.
These milestones, the team argued, indicate that SNEK is helping grow Cardano’s visibility and usage. Despite these data points, the proposal met pushback from Hoskinson, who disagreed with using treasury funds to cover exchange listing fees.
Instead, he advised the community to modify the proposal into a structure that would allow funds to be paid back within a three-year period — effectively turning it into a type of community bond. This idea, while intended as a compromise, didn’t sit well with many within the SNEK supporter base.
Community Claims Double Standards and Overlooked Efforts
Some SNEK holders viewed Hoskinson’s suggestion as a sign that the team wasn’t getting fair treatment, especially when compared to other projects within the ecosystem. Several users felt that the token had already proven its worth, especially in terms of engagement and reach.
One user argued that SNEK had become the primary driver of on-chain activity, and even claimed that without it, Cardano would be far less active. Others compared SNEK’s efforts to newer projects like Midnight — a privacy-focused initiative supported by Hoskinson — suggesting there’s a clear imbalance in how projects are treated based on their origin or purpose.
Despite the disagreement, Hoskinson made it clear he still supports the SNEK community. However, his firm stance on how treasury funds should be used sparked a broader debate on which projects deserve community backing.
SNEK’s Self-Funded Growth Continues
One of the main points SNEK advocates make is that the token’s expansion hasn’t come from external financial help. Key listings on platforms like Kraken and Crypto.com were achieved without treasury support. According to the team, these accomplishments reflect the strength and organization of the community.
These self-funded steps are part of why supporters believe they should be rewarded with more recognition — if not financial assistance. They argue that SNEK brings value to Cardano not just by growing its user base, but also by showing what’s possible through community-led initiatives.
Rami’s tweet on August 7 appears to be an effort to remind the broader Cardano community of that reality. While he didn’t directly refer to Hoskinson in the post, his tone suggested a feeling that SNEK isn’t being fully appreciated — yet remains committed to Cardano’s success.
Token Sees Price Surge Despite Ongoing Friction
While debates around its role continue, SNEK has performed strongly in the market. Over the past 24 hours, the token climbed 16.63%, bringing its total market value to $310 million. That rise pushed SNEK into the 218th position globally by market cap, according to available rankings.
The increase in value may be tied to renewed attention from Rami’s recent comments, along with growing sentiment within the Cardano ecosystem. Some traders believe the controversy may actually benefit SNEK, as it creates greater visibility in the short term.
Still, others in the Cardano community are calling for a more balanced discussion — one that respects both the protocol’s long-term goals and the contributions of grassroots efforts like SNEK.
Looking Ahead
Whether or not the SNEK community succeeds in securing funding from the Cardano treasury, the team appears determined to keep building. Rami’s post suggests a mindset of persistence: to keep growing, to keep contributing, and to keep making Cardano more accessible.
Meanwhile, the tension between protocol leadership and independent developers remains an ongoing theme in the broader crypto space. Cardano, known for its academic and methodical development style, is now navigating the growing pains that come with increased adoption — including how to fairly allocate community resources.
SNEK’s supporters are making it clear that their role is not just financial, but cultural. As this debate continues, it may help shape how Cardano manages its treasury, evaluates proposals, and supports ecosystem-wide growth in the future.
