The majority of the feedback on our proposal has been very positive, and we can already see this reflected in the vote so far.
Among the DReps not yet convinced, the concerns mainly fall into two areas:
1. How will Snek repay the loan?
Snek is a brand with multiple revenue-generating products and valuable IP. These products currently include @snekdotfun, @snekbot_io, @snekx_io, and @SecurityBot_. SnekFun alone (owned by Snek and Splash) generated ~2M ADA in fees over the past year. We are also monetizing Snek’s IP through licensing deals (often royalties) on physical products like @snek_energy and @SnekFigures. Expanding our IP ventures is one of our top priorities in the coming years, and we expect licensing deals to become a significant part of our revenue.
In addition, the Snek treasury (tokens, liquidity on CEXs and DEXs, other assets, etc.) is expected to increase in value relative to ADA. Combined with the increased reach and visibility from future listings and partnerships, this gives us multiple pathways to repay the loan.
We have not detailed an exact repayment mechanism because the market moves quickly, and we must remain adaptable. What is clear is that we have the ability to leverage our brand, our products, and our community to repay the loan and interest.
2. Why no collateral?
Treasury withdrawals are designed for ecosystem growth, not private bank-style loans. Our goal with this proposal is to set a precedent where withdrawals are seen as investments instead of one-time grants. We believe most projects should contribute back to the Treasury by repaying what they receive, ensuring sustainability even in periods of lower network activity.
Our project treasury is currently worth more than the loan value, but locking ADA (or $SNEK) as collateral would tie up funds that are better deployed for marketing activities or supplying liquidity to protocols and exchanges. This approach accelerates adoption and creates more value for everyone.
@snek has already self-funded close to $5M in listings over the past two years. These integrations have been highly positive for the ecosystem, building key relationships with exchanges and infrastructure that other CNTs can now leverage. Our track record is proven, and our intentions are clear.
🚨🐐 GOAT OF THE WEEK ALERT 🐐🚨
Big thanks to our amazing tribe for all the support and endless vibes! 💯
This week’s GOAT of the Week is @Cyl3ntKings
Your energy keeps the herd strong and the vibes unlimited. Stay goated, fam! 🤝🔥
BREAKING:
$ADA and Cardano native assets can now be transferred directly inside Unreal Engine 5.
A major step forward for Web3 gaming and virtual economies.
sundae labs is known for building the OG DEX on cardano - sundaeswap 🍨
but they’re not stopping there
they’re launching sundae strategies - tools to automate your trades and maximize profit potential 🤑
watch this for the alpha 👇
$ADA
If I wake up tomorrow and Cardano is above $1, I’ll gift someone in the comments a lifetime membership to the CCV Intelligence system.
Almost 40 proprietary risk models, exit planner, autonomous AI, and more back there!
Tons of members pouring in!
Like, share, comment! 🚀