Altcoins News
By James Thorp
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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.
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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.
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The Funding Dispute That Got the Community Talking
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The situation first gained attention when the SNEK team submitted a proposal to the Cardano community, requesting 5 million ADA (valued at approximately $3.
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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.
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These milestones, the team argued, indicate that SNEK is helping grow Cardano’s visibility and usage.
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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…
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Community Claims Double Standards and Overlooked Efforts
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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.
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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.
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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…
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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.
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These self-funded steps are part of why supporters believe they should be rewarded with more recognition — if not financial assistance.
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Rami’s tweet on August 7 appears to be an effort to remind the broader Cardano community of that reality.
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Token Sees Price Surge Despite Ongoing Friction
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