이 재무 출금은 Snek Foundation의 전략적 제안인 Cardano Global Listing Expansion 이니셔티브에 자금을 지원함.

이 이니셔티브는 SNEK 토큰을 주요 중앙화 거래소(CEX), 소매 중개업체 및 널리 채택된 플랫폼에 상장하는 것을 목표로 함.

SNEK는 Cardano에서 가장 큰 커뮤니티 토큰으로, 시가총액이 가장 높고 42,000개 이상의 지갑과 20억 ADA 이상의 누적 거래량을 보유하고 있음.

지난 2년간 Snek Foundation은 400만 달러 이상을 전액 자비로 투자해 주요 거래소 상장을 확보했음.

Kraken과 Crypto.com에서 Cardano 네이티브 토큰 최초의 Tier 1 상장을 달성하며 생태계에 역사적 선례를 세웠음.

이번 제안은 5,000,000 ADA를 요청하며, 이 자금은 최상위 거래소 상장, 유동성 공급, 법률 및 컴플라이언스 서비스, 전략 자문 감독에 사용될 예정임.

상장 확대는 SNEK 채택을 늘릴 뿐 아니라 Cardano 생태계 전체에 전례 없는 가시성, 유동성, 사용자 확보 기회를 제공함.

거버넌스 과정의 일환으로 Tal Cohen(전 Kraken CEO), Phillip Pon(Emurgo CEO) 등 업계 고위 인사들이 포함된 자문위원회가 투명한 실행과 생태계 정렬을 보장하기 위해 임명될 예정임.

SNEK는 Cardano에서 가장 널리 채택된 토큰임에도 주요 중앙화 거래소에서 저평가되어 있으며, 이는 Cardano가 주류 플랫폼과 광범위한 사용자층에서 가시성이 부족함을 반영함.

이 저평가는 SNEK뿐 아니라 Cardano의 글로벌 플랫폼 내 ADA 가시성 및 유동성, 소매 주도 시장 경쟁력, 주류 사용자에 의한 생태계 발견 가능성, CNT 채택 및 다른 토큰 성공 경로에 부정적 영향을 미침.

Cardano는 DOGE, SHIBA, PEPE가 이더리움과 솔라나에서 하는 역할과 같은 유동성, 바이럴성, 문화 주도 토큰이 부족함.

SNEK는 이미 이 역할을 수행할 능력을 보여주었으며, 이제 대규모 돌파를 위한 지원이 필요함.

SNEK는 2023년 4월 30일에 출시된 Cardano 기반 밈 토큰으로, 현재 시가총액은 약 2억 4,000만 달러(약 270M 달러 수준), 24시간 거래량은 수십만 달러에서 수백만 달러 사이임.

총 공급량은 약 767억 개, 유통량은 약 745억 개임.

SNEK는 Cardano 생태계 내에서 가장 큰 커뮤니티 토큰으로 자리잡았으며, 활발한 커뮤니티와 지속적인 생태계 개발을 진행 중임[1][2][3][4].

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주석:
- Tier 1 listing: 주요 거래소에서의 최상위 등급 상장
- CEX: 중앙화 거래소(Centralized Exchange)
- ADA: Cardano 블록체인의 기본 암호화폐
- CNT: Cardano Native Token (Cardano 네이티브 토큰)

이 제안은 다음과 같은 문제들을 해결하는 데 목적이 있음.

- **Cardano 네이티브 토큰(CNT)의 거래소 부재:** 주요 중앙화 거래소와 소매 중개업체 대부분이 아직 Cardano 네이티브 토큰을 지원하지 않음. 이로 인해 Cardano의 접근성과 글로벌 경쟁력이 크게 제한되고 있음. 이더리움과 솔라나 생태계는 주요 거래소와 깊은 통합을 이루고 있으나, Cardano 네이티브 프로젝트들은 유동성 경로가 적고 발견 가능성이 낮음. CNT가 주류 플랫폼에서 더 많이 노출되어야 Cardano 온체인 경제가 완전한 잠재력을 발휘할 수 있음.

- **ADA 거래쌍의 낮은 가시성:** 중앙화 거래소는 수백만 사용자 진입점임에도 불구하고 ADA 거래쌍은 Cardano 시가총액 대비 부족함. SNEK 같은 커뮤니티 기반 자산이 ADA 거래쌍 수요를 창출하지 않으면 유동성은 얕고 거래량도 저조함. 이 제안은 ADA 거래쌍을 활성화해 ADA 유동성을 심화시키고 거래 층에서 Cardano의 중요성을 강화함.

- **사용자 확보 기회 상실:** 다른 생태계에서 SHIB, DOGE, PEPE 같은 밈코인은 수백만 신규 소매 사용자를 유입하는 문화적 관문 역할을 함. 이 토큰들은 스토리, 참여, 수요를 만들어내며 기본 토큰과 생태계 도구에 대한 수요를 견인함. SNEK은 Cardano에서 이 역할을 수행할 수 있음을 증명했음. 접근성 향상을 위한 지원 없이는 Cardano는 강력한 사용자 확보 경로를 놓칠 위험이 있음.

- **유동성 분산:** Cardano DeFi 프로토콜은 다리 역할을 하는 온램프 호환 자산 부족으로 유동성 집계에 높은 장벽이 있음. 주요 거래소 상장이 없으면 Cardano 네이티브 자산은 고립되어 광범위한 암호화폐 자본 흐름과 분리되어 확장성과 채택이 제한됨.

이 이니셔티브에 자금을 지원함으로써 Cardano는 신뢰받고 문화적으로 강하며 커뮤니티 검증을 받은 자산을 통해 사용자와 유동성의 관문 역할을 할 수 있는 병목 현상을 해결할 수 있음.

현재 SNEK은 Tier 1 거래소 요건을 충족하는 유일한 Cardano 네이티브 토큰임. 이는 글로벌 차원에서 Cardano가 필요로 하는 접근성, 유동성, 가시성을 확보할 수 있는 최선이자 유일한 관문임[3][4].

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**주석**
- Tier 1 거래소: 글로벌 주요 중앙화 거래소를 의미함.
- 온램프(on-ramp): 암호화폐 생태계로 자금을 유입하는 경로를 뜻함.
- 유동성 집계: 여러 유동성 공급원을 통합하여 거래가 원활하게 이루어지도록 하는 것임.

SNEK 글로벌 거래소 확장 프로젝트는 5M ADA를 사용해 주요 중앙화 거래소, 소매 중개업체, 혁신적인 DeFi 플랫폼에 SNEK 및 ADA를 상장하고, 유동성 공급 및 마켓 메이킹, 법률·컴플라이언스 비용, 홍보 캠페인, 투명한 지출 보고를 진행할 계획임.

이 프로젝트는 ADA/SNEK 거래쌍의 글로벌 유동성을 증가시키고, 주요 거래소 상장을 통해 Cardano의 가시성을 높이며, 향후 Cardano 네이티브 토큰(CNT)들이 재사용 가능한 상장 인프라와 법적·기술적 기반을 확보하도록 지원함.

SNEK 재단은 29개월간 자체 자금 4M 달러 이상을 투자해 Cardano 내 가장 활발한 토큰으로 자리매김했으며, Kraken과 Crypto.com 등 Tier 1 거래소 상장을 최초로 달성했음.

거버넌스는 Tal Cohen(전 Kraken CEO), Phillip Pon(Emurgo CEO), Rapha C-Roy(SNEK CEO) 등으로 구성된 자문위원회를 통해 비용 집행, 협상, 법률 전략을 감독하며, Cardano 생태계 전체에 이익이 되도록 관리함.

예산은 상장 수수료, 유동성 공급, 법률·컴플라이언스, 마케팅, 자문 및 투명성 운영에만 사용되며, 미사용 자금은 Cardano 재무부로 반환됨.

이 제안은 SNEK 단일 토큰 투자가 아니라 Cardano 생태계 전체의 글로벌 경쟁력과 확장성을 위한 전략적 투자임.

한편, Cardano 창시자 Charles Hoskinson은 최근 Cardano 재무부 자금을 거래소 상장 수수료로 사용하는 것을 거부하며, 프로젝트 자율성과 탈중앙화를 강조함[4].

요약하면, SNEK 재단은 자체 투자와 커뮤니티 지원을 통해 Cardano 토큰의 글로벌 거래소 상장과 유동성 확대를 추진하며, 이를 위한 법적·기술적 인프라 구축과 지식 공유를 목표로 하고 있음.

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주석:
- CEX: 중앙화 거래소(Centralized Exchange)
- DeFi: 탈중앙화 금융(Decentralized Finance)
- KYC: 고객 신원 확인(Know Your Customer)
- CNT: Cardano Native Token (Cardano 네이티브 토큰)
- Tier 1 거래소: 거래량과 신뢰도가 높은 최상위 거래소

This treasury withdrawal funds the Cardano Global Listing Expansion initiative, a strategic proposal by the Snek Foundation to list SNEK on major centralized exchanges (CEXs), retail brokers, and other widely adopted platforms. SNEK is the largest community token on Cardano, holding the highest market capitalization, over 42,000 wallets, and more than 2 billion ADA in all-time trading volume.

Over the past two years, the Snek Foundation has already invested over $4 million, entirely self funded, to secure major exchange listings. We’ve delivered the first and second ever Tier 1 listings for any Cardano native token, with Kraken and Crypto.com setting historic precedents for the ecosystem. These were not isolated wins, but the first step in a broader strategy to unlock global market access for Cardano.

This proposal seeks 5,000,000 ADA to support top-tier exchange listings, liquidity provisioning, legal and compliance services, and strategic advisory oversight. These listings will not only increase SNEK adoption but also bring unprecedented visibility, liquidity, and user acquisition opportunities to the entire Cardano ecosystem. As part of the governance process, a Board of Advisors will be appointed to ensure transparent execution and maximize ecosystem alignment. This board will include high-profile industry veterans like Tal Cohen (former CEO of Kraken) and Phillip Pon (CEO of Emurgo), with additional top-tier names to be announced.

SNEK is Cardano’s most adopted token, yet it remains underrepresented on major centralized exchanges, reflecting a broader lack of visibility for Cardano on mainstream platforms and among broader audiences.

This underrepresentation doesn’t just affect SNEK. It weakens Cardano’s position in competitive markets and slows ecosystem-wide growth in four key areas:
- ADA’s visibility and liquidity on global platforms
- Cardano’s competitiveness in retail-driven market cycles
- The discoverability of Cardano’s ecosystem by mainstream users
- CNT adoption and the path for other tokens to reach similar success

Cardano currently lacks a flagship token that drives liquidity, virality, and culture across exchange listings, just like DOGE, SHIBA, and PEPE do for Ethereum and Solana.
SNEK has already shown it can fill this role; now it needs support to break through at scale.

This proposal aims to address the following challenges:

- **Lack of exchange presence for Cardano native tokens:** Most major centralized exchanges and retail brokers still do not support Cardano Native Tokens (CNTs). This severely limits Cardano’s accessibility and competitiveness on a global scale. While Ethereum and Solana ecosystems enjoy deep integrations with top exchanges, Cardano-native projects are left with fewer liquidity pathways and less discoverability. Until CNTs are more visible on mainstream platforms, Cardano’s on-chain economy cannot reach its full potential.

- **Low visibility for ADA pairings:** Centralized exchanges are the primary entry point for millions of users, yet ADA trading pairs are underrepresented relative to Cardano’s market cap. Without community-driven assets like SNEK creating demand for ADA pairings, liquidity remains shallow and volume muted. This proposal helps bootstrap those pairings, supporting deeper ADA liquidity and reinforcing Cardano’s relevance at the trading layer.

- **Missed user acquisition:** In other ecosystems, memecoins like SHIB, DOGE, and PEPE have served as cultural gateways for millions of new retail users. These tokens create stories, engagement, and participation, driving demand for the base layer tokens and ecosystem tools. SNEK has proven it can play that role for Cardano. Without support to elevate its accessibility, Cardano risks missing this powerful user acquisition funnel.

- **Liquidity fragmentation:** Cardano’s DeFi protocols face high barriers to liquidity aggregation due to the lack of bridgeable, on-ramp-compatible assets. Without listings on major exchanges, Cardano native assets remain siloed and isolated from the broader crypto capital flows, limiting scalability and adoption.

By funding this initiative, Cardano positions itself to solve these bottlenecks through a trusted, culturally strong and community-proven asset that can serve as a gateway for users and liquidity.

Today, Snek is the only Cardano-native token capable of meeting Tier 1 exchange requirements. This makes it the best and currently only viable gateway to unlock the access, liquidity, and visibility Cardano needs at the global level.

## Project Solution

The SNEK Global Exchange Expansion initiative will execute a targeted listing strategy, using the requested 5M ADA to:
- Finalize negotiations and secure multiple top-tier listings on centralized exchanges, retail brokers, and innovative DeFi platforms
- Provision liquidity and market making for ADA/SNEK pairs
- Cover legal and compliance costs to meet exchange requirements
- Fund mandatory coordination and announcement campaigns
- Report expenditures and impact transparently to the community

Ecosystem Benefits:

- **Increase ADA liquidity across global trading platforms:** Listings will establish deep liquidity for ADA/SNEK pairs and reinforce ADA’s role as a quote asset in broader markets.

- **Expand Cardano visibility among mainstream users:** Presence on Tier 1 CEXs and retail platforms will increase Cardano’s exposure where most crypto adoption begins.

- **Establish reusable exchange infrastructure for CNTs:** This initiative creates the legal, technical, and operational framework that future Cardano tokens can leverage.

- **Lay the technical and legal groundwork for future Cardano token listings:** This initiative solves the hardest and most expensive part of Tier 1 onboarding the integrations, KYC, and compliance infrastructure that every CNT would otherwise need to build from scratch. Once completed, this framework can be reused by future projects, massively reducing the technical lift required for Cardano wide exchange access.

- **Drive user acquisition through proven community traction:** Snek’s viral momentum helps Cardano tap into the same memecoin fueled onboarding funnels that propelled DOGE and SHIB.

- **Create liquidity bridges for DeFi, NFTs, L2s, and dApps:** Expanded listings make it easier to onboard capital and users into Cardano-native protocols:

- **Document and share listing playbooks with the ecosystem:** All compliance, negotiation, and integration learnings will be captured and shared with the Cardano Foundation and other token teams to accelerate future listings.

Cardano Treasury and Governance:
- High ROI use of funds by leveraging SNEK as a magnet for adoption
- Support of a community-run initiative with a proven track record
- Back a team that has already invested more than $4 million of its own capital into this initiative, and remains committed to continued investment alongside community support.

## Listing Strategy

This proposal prioritizes high-impact, global-facing exchanges and service providers, with some already at the later stages for listing. Including but not limited to:

- **Tier 1 & 2 CEXs:** Coinbase, Binance, Crypto.com, KuCoin, OKX, Upbit, HTX, Bybit

- **Retail Brokers:** Robinhood, Revolut, MoonPay, eToro, Uphold

- **Innovative DeFi:** Hyperliquid (for perpetuals and trading)

These platforms represent critical access points for onboarding new users, increasing ADA liquidity, and bringing Cardano native tokens into mainstream crypto finance.

This strategy marks the next step toward large-scale adoption of Cardano native assets (CNTs). We already have multiple offers under consideration, and access to a larger budget through this treasury proposal will allow us to negotiate more effectively, secure better placement, and maximize impact for the broader Cardano ecosystem.

## Vendor Profile

Snek Foundation is a grassroots organization responsible for launching and maintaining the SNEK ecosystem. Snek has never raised external funds for exchange listings and has operated for the past 29 months, entirely self-funded through its revenue and treasury.

Since May 2023, Snek has:
- 42,000+ wallets holding SNEK — the most actively held token on Cardano
- 2,000,000,000 ADA in all-time trading volume — the most traded token on Cardano
- SNEK is the most well-known token in and out of the Cardano ecosystem, with 30 markets
- Self-funded $4M for exchange listings
- Delivered the first and second-ever Tier 1 exchange listings for Cardano via Kraken and Crypto.com
- Developed the first ever CEX-DEX market-making service with Flowdesk
- Launched Snek.fun, Cardano’s leading launchpad, driving over 30% of all chain trades since inception
- Trademarked brand with ongoing IP licensing deals (Snek Figures, Snek Energy)

The team has a successful track record negotiating listings, building tools, and driving global meme adoption aligned with Cardano’s values.

The goal is not exclusivity — it’s scalability. By leading the way through Snek, we create a repeatable path for other CNTs to follow. The foundation has already begun sharing its knowledge with other projects post-Kraken, and through this proposal, will continue building and systematizing resources that can be shared with Cardano Foundation, Emurgo, and IOG.

## Governance and Oversight

A Board of Advisors will be appointed to provide guidance, feedback, and external validation. The board will include:
- Tal Cohen, former CEO of Kraken
- Phillip Pon, CEO of Emurgo
- Rapha C-Roy, CEO of Snek Foundation
- Prominent leaders from the Cardano ecosystem and the compliance sector - more to come on this.

The board’s responsibilities:
- Advise key expenses
- Guide negotiations and legal strategy
- Ensure alignment with Cardano treasury goals
- Ensure outcomes benefit the Cardano ecosystem beyond SNEK
- Support documentation and distribution of listing playbooks to future Cardano-native token teams

This structure ensures that the project benefits from experienced external input while maintaining decentralized, community-led control over treasury execution.

The Board will also help facilitate knowledge sharing across the ecosystem by supporting documentation of listing procedures, exchange engagement strategy, and compliance best practices, enabling other Cardano native projects to benefit from this groundwork.

## Budget

The funds will only be used to cover necessary expenses to achieve key listings. These costs can vary from one listing to another, but generally include:
- Listing Fees
- Liquidity Provisioning
- Legal & Compliance
- Marketing & Campaign budgets (led by the exchanges)
- Advisory & Transparency Ops

Any unused funds will be returned to the treasury.

## Conclusion

The Snek Foundation has self funded the growth of SNEK to date, all prior centralized exchange listings, marketing, and infrastructure without relying on any community raise or token sale. Over the past two years, the Snek Foundation has invested more than $4 million USD into listings alone, funded entirely through project revenue and the Snek treasury.

This proposal marks the first time the Foundation is requesting support from the Cardano community to unlock broader exchange access, liquidity, and visibility for the entire Cardano ecosystem.

Backing this initiative isn’t simply an investment in a single token. It’s a strategic investment in Cardano’s reach, relevance, and competitiveness in the global crypto landscape. SNEK has already proven itself as both a cultural and technical leader on Cardano and, more importantly, as a project that’s trusted to consistently deliver. With community support, we can continue to open doors that benefit every user, builder, and token in the ecosystem.

This proposal isn’t just about Snek — it’s about what Snek enables for Cardano. We’ve already proven that major platforms are willing to list CNTs when the right infrastructure, compliance, and community story are in place. With $4M+ of our own capital invested and Tier 1 listings already live, we’ve eliminated the risk and shown the upside. Now, with treasury support, we can go further — expanding access, sharing the roadmap, and giving every Cardano project the chance to follow.