Cardano Global Listing Expansion - Powered by Snek
On-chain changes
- 5 ₳paid tostake1uy5...jgehj9ty
Abstract
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.
Motivation & rationale
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.
Rationale highlights
Why some of the largest DReps voted for and against, in their own words.
Summary Yoroi DRep votes NO on the governance action to fund the Cardano Global Listing Expansion initiative by the Snek Foundation. Rationale The proposal highlights a proven and driven team with a history of delivering Tier 1 listings and building CNT...
Summary
Yoroi DRep votes NO on the governance action to fund the Cardano Global Listing Expansion initiative by the Snek Foundation.
Rationale
The proposal highlights a proven and driven team with a history of delivering Tier 1 listings and building CNT adoption. These contributions have brought visibility to Cardano that is rare among community-led projects.The current request, however, lacks a clear funding structure that ensures tangible returns for the ecosystem or a framework that other projects can directly reuse. Treasury resources should prioritize proposals with both specific deliverables and lasting community benefits.
The listed withdrawal amount of 5 ADA is clearly insufficient for the stated goals, indicating the need for a corrected submission.
Conclusion
We encourage the proposers to return with an updated plan that outlines realistic costs, defines ecosystem-wide benefits, and includes mechanisms that provide lasting value beyond a single asset. Yoroi would welcome the opportunity to review such a resubmission on its merits.I will always be grateful for the enormous contributions made by the Snek project. This proposal will not pass anyway due to its unconstitutional nature, but even so, I am voting NO because I believe the following points are necessary: As Charles pointed...
I will always be grateful for the enormous contributions made by the Snek project.
This proposal will not pass anyway due to its unconstitutional nature, but even so, I am voting NO because I believe the following points are necessary:
As Charles pointed out, I recommend adding a treasury repayment plan here, as well as KPIs and target values and related historical analysis.
Since the exchange has already been listed on Kraken, I think it would be effective to analyze the impact of the listing on the ecosystem and attach the results of that analysis.
For each of the "Ecosystem Benefits" listed, I would appreciate it if you could provide an analysis of KPIs and target values, showing how much each value has increased as a result of the Kraken listing, and how much further you expect it to increase with the additional exchange listings listed. This will allow us to grasp quantitative information about the benefits the ecosystem will gain from this proposal.
Then, when the proposal is completed, we will be able to compare those target KPIs with the actual values and determine whether the proposal was ultimately a success or failure.
(Not just whether the promise was formally fulfilled, but whether it ultimately had an impact on the ecosystem worth 5 million ADA)私はSnekプロジェクトの巨大な貢献にいつも感謝しています。
この提案書は憲法違反のためいずれにせよ通ることはありませんが、それを差し引いても次のような点が必要だと思うためにNOを投票します。
チャールズさんの指摘するように、ここにトレジャリーへの返済計画を追加し、かつ、KPIとターゲット値およびそれに関する過去の分析を追加することを推奨します。
すでにKrakenへの上場が行われているため、その上場によるエコシステムへの効果を分析し分析結果を添付することが効果的だと思います。
「Ecosystem Benefits」に列挙される各々は、Krakenの上場により各々どの数値がどの程度上昇しており、追加で列挙されている取引所の上場により、さらにどれほど上昇することを見込んでいるのか、KPIとターゲット値の分析を設定していただけると幸いです。そのようにすることで、この提案書でエコシステムがどのような利益を得るのか定量的な情報を把握することができます。
そしてこの提案書の実行が終了した時、それらの目標KPIターゲットと実際の値を見比べて、この提案書が結果的に失敗したのか成功したのかを判断することができます。
（形式的に約束を果たしたかどうかだけではなく、結果的にエコシステムに５M ADAに見合うインパクトを与えたのかどうか）This is absolutely the most controversial proposal I’ve voted yes on, and honestly I’m as surprised as anyone. Six months ago, if you told me I’d be supporting 5M ADA to fund a snake meme coin’s exchange listings, I would have checked your temperature and...
This is absolutely the most controversial proposal I’ve voted yes on, and honestly I’m as surprised as anyone. Six months ago, if you told me I’d be supporting 5M ADA to fund a snake meme coin’s exchange listings, I would have checked your temperature and recommended therapy.
Yet here we are. And here I am.
I’ll be brutally honest … this feels wrong in every traditional governance fiber of my being. Using treasury funds to boost a specific token’s exchange presence is supposed to be everything we shouldn’t do. But sometimes the most uncomfortable votes are the right ones, and the reality is that other ecosystems figured out that meme coins aren’t just jokes… they’re user acquisition funnels. DOGE brought more people to crypto than any white paper ever did. SHIB and PEPE have been Ethereum’s accidental ambassadors to retail. Cardano’s problem isn’t technology , it’s that nobody outside our bubble knows we exist.
SNEK isn’t asking for free money , they’ve already burned $4M of their own cash and delivered actual Tier 1 listings. Name another Cardano native token that could realistically get on Binance or Coinbase tomorrow?
I’ll wait.The harsh reality is that SNEK might be our only viable ticket to mainstream CNT adoption, and every SNEK listing creates ADA trading pairs while potentially bringing new users who discover Cardano through a snake meme but might stay for the DeFi, governance, or infrastructure. It’s undignified, but it might actually work.
I have to be transparent about something that’s bothering me… seeing Emurgo on the advisory board is actually a bit of a red flag for me. Emurgo’s track record with community relations and ecosystem development has been… let’s call it “mixed.” Their involvement makes me wonder about the real motivations behind this proposal and whether there are backdoor deals or conflicts of interest I’m not seeing. But I’m choosing to overlook this concern because the core proposition still makes sense despite my skepticism.
Cardano’s biggest problem isn’t technical capability, it’s cultural relevance. We built the most rigorous blockchain and somehow forgot to make it cool. This sets a precedent that might haunt us, it feels like picking winners with public funds, and exchange listings don’t guarantee success. This could spectacularly backfire and make us look ridiculous. But sometimes you take the shot that makes you slightly uncomfortable because the alternative continued irrelevance in mainstream crypto culture might be worse.
I’m voting yes on the theory that SNEK has proven they can deliver, the ecosystem benefits are plausible, and frankly, we need something to break through the noise. Is this dignified? Absolutely not. Might it work? Unfortunately, yes. Don’t @ me if this ages poorly, but also don’t @ me if SNEK ends up being Cardano’s secret weapon.I am voting Yes because the Snek Foundation has already proven its ability to deliver Tier 1 exchange listings for Cardano, investing over $4M of its own capital to secure milestones like Kraken and Crypto.com. This proposal builds on that proven track...
I am voting Yes because the Snek Foundation has already proven its ability to deliver Tier 1 exchange listings for Cardano, investing over $4M of its own capital to secure milestones like Kraken and Crypto.com. This proposal builds on that proven track record, asking for similar support from the treasury to expand listings, liquidity, and visibility at a scale that benefits not only SNEK but the entire Cardano ecosystem.
By funding this initiative, we support increased ADA liquidity, greater CNT discoverability, and a reusable compliance and exchange framework that future Cardano projects can leverage. With established credibility, industry-leading advisors, and a clear strategy, this proposal represents a high-impact opportunity to strengthen Cardano’s global presence and competitiveness.