Cardano Global Listing Expansion - Powered by Snek
183 DReps voted · 66 with a rationale · 1 changed their vote · 6 re-voted unchanged
Open a row to read the rationale.
Changed votes: 1 to abstain, together voting with 113.8M ₳ of voting power.
- No5.3M ₳Rationale
We recognize the Snek team as one of the most committed and impactful teams in the Cardano ecosystem. Their execution track record, self-funded T1 listings, and contribution to broader CNT adoption are clear. The momentum around $SNEK has brought visibility, cultural traction, and on-chain usage that no other Cardano-native token has matched to date.
However, we are voting NO on this treasury withdrawal in its current form.
We believe exchange listings can play a role in Cardano’s growth. But we draw the line at direct treasury funding for listing fees unless there's a clear path to ROI or ecosystem-wide benefit. Funding a single-token listing without any form of repayment or collective infrastructure outcome sets a precedent that is difficult to sustain long term.We encourage the Snek team to return with a revised proposal. Specifically, one that:
Outlines a more detailed and transparent budget;
Includes a mechanism to repay the Treasury, such as a bond or revenue share based on Snek Network activity;
Or alternatively, builds a shared roadmap for CNT listings/infrastructure that can benefit the ecosystem as a whole.
The Snek team has already delivered value and earned community trust. It’s arguably the project that gave back the most to the treasury, and with a more sustainable structure and alignment with our treasury principles, we would be open to supporting a future version of this initiative.
- Abstain4.9M ₳Rationale
See the duplicate action
- No4.6M ₳No rationale
- No4.6M ₳No rationale
- No4.5M ₳No rationale
- No4.4M ₳No rationale
- No4.2M ₳Rationale
[Portuguese]
Optamos por votar "NÃO" nesta ação de governança (gov_action1fl6...9tgrd5), pois, embora o projeto SNEK seja a principal memecoin e principal projeto em marketcap da rede, já está listado em algumas exchanges de nível 1, e a proposta parece genérica em não determinar em qual exchange os fundos serão alocados. Nos parece muito mais oportuno que os principais projetos da rede se juntem para submeter uma ação de governança comunitária focada em listar determinados tokens em exchange específica, como a Binance. É a nossa sugestão.
[English]
We chose to vote "NO" on this governance action (gov_action1fl6...9tgrd5), because although the SNEK project is the main memecoin and the leading project by market cap on the network, it is already listed on some tier 1 exchanges, and the proposal seems generic by not specifying which exchange the funds will be allocated to. It seems much more appropriate for the main projects of the network to join together to submit a community governance action focused on listing specific tokens on a specific exchange, such as Binance. That is our suggestion. - No4.2M ₳No rationale
- No4M ₳Rationale
This would amount to picking winners of one among many with public funds. While Snek is a huge asset to the ecosystem, it is a commercial venture capable of standing on its own, and favoring it over others with public funds is inappropriate and should be unnecessary.
That the proposal is also unconstitutional was another reason to look askance at it.
- No4M ₳No rationale
- No3.9M ₳Rationale
I'm voting NO because I don't believe the treasury should be used for marketing or listings.
My top priorities as a DRep are: prioritizing core engineering, protecting the treasury, decentralizing influence, and investing in real-world assets (RWAs).
Strength and honor.
- Abstain3.7M ₳No rationale
- No3.5M ₳Rationale
Having $snek listed on CEXs should not be funded by the treasury but by the project itself.
- No3M ₳Rationale
I appreciate what SNEK has done for the Cardano ecosystem to date, and getting listed on two major exchanges as a CNT is a huge win for ADA.
I also see value in community contributions towards getting CNTs listed on major exchanges, as it is a huge issue that is holding our entire ecosystem back.
Without CNT listings, we are not going to overtake Ethereum or Solana (unless they crash and burn). This is something I had expected IOG / Cardano Foundation / EMURGO to facilitate, use genesis ADA for, and build bridges between exchanges and community projects. Sadly this has not happened, and I feel is a huge failure of responsibility on their part.
Despite this, I appreciate that there are builders trying to make CNT listings happen, so thank you.
Here are my concerns and why I have to vote no for now:
- The GA is unconstitutional, and its not something nitpicky that is worth overlooking. Constitutionality nitpickiness is an abuse of power IMO, so as a DRep I also vote based on the spirit of the proposal and how big or small any errors are.
Article IV Section 3: The proposal does not appear to be part of an approved Cardano ecosystem budget. This would be an example of constitutional nitpickiness. There are always going to be proposals submitted that are outside the approved ecosystem budget, and it is our job to review edge cases. What I would expect is some kind of socialization of the proposal before dropping it on chain. Then you will get feedback, and have time to garner support from the community.
Article IV Section 4: No allocation is made for independent audits or defined oversight mechanisms. This is a requirement.
Article IV Section 5: The proposal does not specify that the receiving wallet is undelegated or delegated to the auto-abstain option. This is a requirement.
The ask of 5 Million ADA without clear details or a clear plan/KPIs is too much. Bringing hard data to the table showing the impact of the Kraken and Crypto.com listings will help your case. Having a business plan that can sell this proposal to the community will help even more.
I would expect 5 Million ADA would get us multiple CNT listings for a variety of tokens, not just SNEK. As this is a huge ask for only SNEK, I'd expect some kind of repayment plan or community compensation plan in exchange for the ADA given, since ultimately this will be supporting only one private project token and not the broader community.
The board of directors plan looks stacked, this can be both a good and bad thing. How much of this budget is being allocated to paying them?
Please take this feedback as constructive and resubmit after taking time to socialize your proposal. I'd like to be able to give you a yes with revisions made.
- Yes2.8M ₳No rationale
- NoRevoted2.8M ₳History
Earlier votes
No1y agoSuperseded
- No2.7M ₳Rationale
この提案はCardano Native Token（CNT）の採用促進に一定の意義はあるものの、特定トークン（SNEK）だけをトレジャリーで支援することは、中立性や公共性の観点から問題があります。
今後の制度的前例となるおそれもあり、より包括的で公平な支援枠組みが整備されるまで、このような個別支援には反対します。
While this proposal may help promote CNT adoption, using treasury funds to support a single token (SNEK) raises concerns about neutrality and public accountability.
It also risks setting an unfavorable precedent. Until a broader and fair framework for token support is established, we oppose such individual funding. - No2.4M ₳No rationale
- No2.3M ₳No rationale
- No2.3M ₳No rationale
- No2.2M ₳No rationale
- No2.2M ₳No rationale
- No1.9M ₳No rationale
- No1.7M ₳No rationale
- No1.7M ₳No rationale
- No1.6M ₳No rationale
- No1.6M ₳No rationale
- No1.6M ₳No rationale
- No1.6M ₳No rationale
- Abstain1.6M ₳Rationale
Voting Abstain as it has been indicated this is going to be resubmitted as an info action, possibly with a different approach: https://x.com/goofy_crisp/status/1951735721103925507
- No1.6M ₳No rationale
- No1.5M ₳No rationale
- No1.4M ₳No rationale
- No1.3M ₳No rationale
- No1.3M ₳Rationale
Vote NO – Proposal contains an input error and should be resubmitted correctly.
VOTE0019
- No1.3M ₳Rationale
We can't pay for the listing fees of all CNTs, so we shouldn't pay for SNEK's. Additionally, I believe it is in the best interests of Cardano and the crypto industry in general to move past meme coin madness. It tarnishes the reputation of the industry and attracts liquidity and attention away from projects that actually provide value and create sustainability for Cardano long term.
- No1.2M ₳Rationale
I’m voting NO. SNEK has real momentum and has already paid for big listings itself, but using 5M ADA from the Cardano Treasury to list and market one token isn’t a public-good expense. It sets a precedent for project-specific listing fees, shifts focus off on-chain growth (CEX trading doesn’t require the Cardano network), and diverts funds from things that help everyone—developer tools, ADA/stablecoin liquidity, compliance frameworks any token can reuse, UX, and core upgrades. We’ll get better long-term onboarding from ecosystem work like BOS, Midnight, and later Leios—tech alone isn’t enough, but public money should build foundations, not promote a single ticker. For marketing-style asks, Project Catalyst is the better venue where the whole community (not just DReps) reviews and votes.
Side note for newcomers: if you enjoy the culture, check out Snek and its playful cousin Snok, plus NikePig—they’re part of Cardano’s meme “family” and fun to follow.
(snek.com) (snok.lol) (nikepig.com) - No1.2M ₳No rationale
- No1.2M ₳Rationale
I recognize the cultural contributions Snek has made to the Cardano ecosystem. However, I cannot support a 5 million ADA treasury withdrawal to fund listings for a single community token.
Key reasons:
1. Misaligned with the purpose of treasury funds:
Token listings on centralized exchanges are speculative and high-risk investments, typically funded by the project or its supporters. Treasury funds are meant to serve the broader ecosystem, not individual tokens.2. Lack of measurable impact data:
The proposal does not provide any analysis of past listings (e.g., Kraken, Crypto.com), lacks clear KPIs, targets, or a repayment plan. This makes it difficult to assess the real benefit to the ecosystem.3. Non-compliance with the Cardano Constitution:
Under Article IV, the proposal is not part of an approved ecosystem budget, lacks provisions for independent auditing, and does not clarify the staking status of the receiving wallet—all of which are mandatory to protect the treasury.4. Problematic precedent:
Funding exchange listings for a specific token could set a harmful precedent, encouraging similar requests from other projects. This undermines neutrality and fairness in treasury allocation.Treasury funds should prioritize open infrastructure, decentralized tools, and initiatives that serve long-term public value—not marketing and listings for individual tokens.
Vietnamese
Tôi ghi nhận những đóng góp của Snek trong việc lan tỏa văn hóa và hình ảnh Cardano. Tuy nhiên, tôi không thể ủng hộ việc rút 5 triệu ADA từ công quỹ để tài trợ cho việc niêm yết một token cộng đồng duy nhất.
Lý do chính:
1. Không phù hợp với tiêu chí sử dụng công quỹ:
Việc niêm yết một token cụ thể trên các sàn giao dịch là khoản đầu tư mang tính đầu cơ và rủi ro cao. Đây thường là trách nhiệm của dự án hoặc cộng đồng sở hữu token, không nên trích từ quỹ công vốn được thiết kế để phục vụ lợi ích hệ sinh thái nói chung.2. Thiếu thông tin định lượng để đánh giá hiệu quả:
Đề xuất không cung cấp phân tích tác động từ các lần niêm yết trước (như Kraken, Crypto.com), cũng không có KPI rõ ràng hay kế hoạch hoàn trả ngân sách. Điều này khiến việc đánh giá lợi ích thực tế mà hệ sinh thái nhận được trở nên mơ hồ và chủ quan.3. Không đáp ứng các yêu cầu hiến pháp:
Dựa trên các điều khoản trong Điều IV của Hiến pháp Cardano, đề xuất không thuộc ngân sách đã được thông qua, không có cơ chế kiểm toán độc lập, và không làm rõ tình trạng staking của ví nhận tiền — đây đều là những điều kiện bắt buộc để đảm bảo tính minh bạch và an toàn cho ngân quỹ.4. Tiền lệ nguy hiểm:
Việc tài trợ niêm yết cho một token riêng lẻ có thể tạo tiền lệ không lành mạnh, khiến các dự án khác kỳ vọng nhận tài trợ tương tự. Điều này đe dọa nguyên tắc công bằng và tính trung lập của hệ sinh thái.Tôi tin rằng công quỹ Cardano nên ưu tiên cho hạ tầng mở, công cụ hỗ trợ toàn hệ sinh thái, và các sáng kiến thúc đẩy tính phi tập trung lâu dài — không phải các đề xuất mang tính thương mại cho token cá nhân.
Japanese
Snek が Cardano エコシステムにもたらした文化的貢献は評価していますが、単一のコミュニティトークンの上場に 500 万 ADA を拠出することには賛成できません。
主な理由：
1. 財務資金の目的と合致しない
中央集権型取引所でのトークン上場は、通常プロジェクト自身が負担すべき高リスクな商業投資です。Cardano の財務資金は、個別のトークンではなく、エコシステム全体に利益をもたらす公共財に使われるべきです。2. 定量的な効果分析が不足
KrakenやCrypto.comの過去の上場による効果についての分析がなく、KPIや目標値、返済計画も示されていません。このため、エコシステム全体への実際の効果を評価するのが困難です。3. Cardano 憲法との非整合性
憲法第 IV 条によると、この提案は承認済みのエコシステム予算に含まれておらず、監査体制も明記されていません。また、受け取りウォレットのステーキング状況についても不明です。これらは財務資金の保護に必須の条件です。4. 危険な前例となる可能性
特定トークンの上場に財務資金を使用することは、他のプロジェクトにも同様の期待を生み出し、不公平な前例となる恐れがあります。Cardano の財務資金は、オープンインフラ、分散型ツール、長期的な公共利益に資する取り組みに優先的に使われるべきです。個別トークンのマーケティングや上場ではありません。
- No1.2M ₳Rationale
I vote No because this proposal asks the treasury to assume significant risk for a highly speculative outcome with zero guarantees. While the Snek Foundation's past achievements are commendable, funding future listings is fundamentally different; exchange negotiations are opaque, and success is never certain, regardless of budget or past track record. The proposal's own text seems to contain a critical typo, referencing a "5 ADA" amount in the conclusion, which undermines confidence in the meticulousness of the proposal's creation and the seriousness of its financial governance. Investing 5 million ADA of community funds into a single memecoin project, no matter how popular, sets a precarious precedent and could divert crucial resources from more foundational, less volatile ecosystem development like core protocol upgrades, developer tooling, or educational initiatives. The potential benefits for ADA liquidity and visibility, while appealing, are theoretical and disproportionate to the concrete, non-recoverable cost of listing fees and marketing campaigns. The existence of an advisory board does not mitigate the core risk that this is a gamble with community funds on a specific asset's success, which is not the treasury's purpose.
- Yes1.2M ₳No rationale
- No1.1M ₳No rationale
- NoRevoted1.1M ₳Rationale
I am voting No. The requested amount is excessively high, and exchange listings—especially for specific tokens—should occur organically through demonstrated market demand, not be subsidized with large Treasury outlays. Funding listings for a single meme coin sets a concerning precedent and offers limited long-term ecosystem value. Treasury resources should prioritize public goods and foundational infrastructure that benefit the broader Cardano community, not individual asset promotion.
Earlier votes
No1y agoSuperseded
- No1.1M ₳No rationale
- NoRevoted1M ₳History
Earlier votes
No1y agoSuperseded
No1y agoSuperseded
- Abstain951.2K ₳No rationale
- No927.7K ₳No rationale
- Abstain884.5K ₳No rationale
- Yes870.3K ₳No rationale
- No866.3K ₳No rationale