Loan ₳5,000,000 to Expand Cardano's Global Listings
202 DReps voted · 71 with a rationale · 1 changed their vote · 3 re-voted unchanged
Open a row to read the rationale.
Changed votes: 1 to yes, together voting with 2M ₳ of voting power.
- Yes1.6M ₳Rationale
Approved the budget action, hence I'll approve the withdrawal itself too.
- Yes1.6M ₳No rationale
- Yes1.5M ₳No rationale
- Yes1.4M ₳No rationale
- Yes1.4M ₳No rationale
- No1.4M ₳No rationale
- No1.2M ₳No rationale
- AbstainRevoted1.2M ₳History
Earlier votes
Abstain9mo agoSuperseded
Abstain9mo agoSuperseded
- No1.2M ₳Rationale
This proposal lacks essential transparency for approval. A withheld cost breakdown prevents informed evaluation. Treasury assumes risks while SNEK gains upside. Repayment capacity remains speculative and unverified. No collateral secures this substantial treasury loan. Advisors provide credibility but not enforceable accountability. Ecosystem funds shouldn’t subsidize private token promotion.
- Yes1.1M ₳No rationale
- Yes1.1M ₳Rationale
I'm voting YES on the Snek Foundation's ₳5M loan proposal for global exchange listings. While I voted NO on their earlier "Budget: ₳5M Loan for Cardano's Global Listing Expansion - Powered by Snek" governance action, this resubmission addresses my primary concerns about safeguards and governance accountability.
The key improvement is the designation of Intersect as the administrator of budget funds, which provides institutional oversight that was absent in the original proposal. This administrative layer adds a crucial safeguard by ensuring an established governance entity manages fund disbursement rather than direct treasury-to-foundation transfers. Additionally, the loan structure itself—with 2.44% APR (2.37% staking rate + 0.07%) compounded yearly and repayment over 3-5 years from Snek product revenues—demonstrates responsible treasury capital deployment while setting a precedent for future project financing.
While an on-chain smart contract would still be my preferred enforcement mechanism, the combination of Intersect administration, defined repayment terms with audit verification requirements, and the broader ecosystem benefit of increased Cardano visibility through major exchange listings makes this proposal worth supporting. The loan model is fundamentally sound and represents innovative treasury utilization that could benefit the entire Cardano Native Token (CNT) ecosystem through expanded retail market access. - No1.1M ₳Rationale
The strategic goal is valid and important: Cardano needs reliable pathways to mainstream liquidity and discoverability. Snek has demonstrable operational competence and has (purportedly) invested heavily. That does not, however, justify deploying ₳5M of public treasury capital under the opaque, lightly‑secured terms offered here. This is a loan, not a grant; that raises expectations for rigorous financial transparency and enforceable repayment mechanics. The proposal does not deliver those essentials.
A responsible governance decision for a loan model must protect the Treasury first! This proposal, as currently written, asks for substantial risk tolerance without commensurate contractual protections, clear repayment triggers, or market‑priced compensation. Approving it now would be reckless and would set a harmful precedent.
- No1M ₳No rationale
- Yes966.3K ₳No rationale
- Yes943.3K ₳No rationale
- Yes929.9K ₳No rationale
- Yes927.7K ₳No rationale
- Yes888K ₳No rationale
- Yes884.5K ₳No rationale
- Yes870.3K ₳No rationale
- Abstain866.3K ₳No rationale
- No860.7K ₳No rationale
- Yes829.9K ₳Rationale
We supported the budget info action and now support the withdrawal. This initiative will benefit the whole cardano exosystem by elevating liquidity.
- No827.8K ₳No rationale
- Yes796.1K ₳Rationale
I voted yes for the associated Info Action, and believe that the value proposition here extends beyond just Snek.
- Yes792.3K ₳Rationale
Let's get this done. More T1 exchanges that support CNTs the better.
- Yes765.6K ₳No rationale
- Yes742.6K ₳No rationale
- Yes636.4K ₳No rationale
- Yes604.7K ₳Rationale
I'm voting yes because this is a loan, not a handout. 5 million ADA at 2.44% interest, repaid within five years from Snek's product revenues. The Snek Foundation already spent $4.5 million of its own money securing Kraken, Crypto.com, and Kucoin listings, the first three Tier 1 exchanges for any Cardano native token. They've proven execution, not promises. SNEK holds 42,000+ wallets and 2 billion ADA in all-time volume. It's the only CNT currently meeting Tier 1 requirements, making it the tactical wedge to crack open exchange infrastructure for the entire ecosystem.
Here's what this buys: ADA trading pair liquidity on major platforms, compliance frameworks that future tokens can reuse without rebuilding from scratch, and mainstream visibility where retail users actually enter crypto. Intersect administers it with bi-yearly reporting and independent audits. A board including Tal Cohen, Frederik Gregaard, Phillip Pon, and Fahmi Syed ensures alignment. This isn't about pumping one token, it's infrastructure investment that creates repeatable pathways for CNTs while the treasury gets repaid with interest. Risk-to-reward favors an abundance mindset. - Yes591.1K ₳Rationale
This stands to increase the awareness and adoption of cardano, so should be supported for the net benefit to the ecosystem.
- No579.1K ₳Rationale
📢 Loan ₳5,000,000 to Expand Cardano's Global Listings — My Vote
I vote ❌ NO
💬 Reason:
The idea of taking ₳5,000,000 from the Treasury to promote a memecoin like SNEK doesn’t serve Cardano’s development. It’s not infrastructure, research, or innovation — it’s marketing for a meme.
If Snek Foundation wants listings — let them invest their own funds, not borrow from the Treasury. The Treasury is not a bank or a promotional budget for private tokens.💡 My stance:
Projects that truly strengthen Cardano — governance, tools, education — deserve Treasury support. Memecoins do not.🗳️ I vote NO to protect Treasury integrity and focus on real ecosystem growth.
I’m registered as a DRep and ready to help build Cardano’s future responsibly.
🖤 DRep ID: ➡️ drep1y269ehxj3...2fg2jr
More info: https://t.me/PROCENT666/338 - Yes573.2K ₳Rationale
While I hold a reservation regarding the immediate capital allocation amount—preferring a more phased approach, potentially aligning with future ecosystem developments like Project Night—the overall strategic concept of this Treasury Loan is overwhelmingly positive and a necessary step for the ecosystem.
The Snek Foundation has clearly demonstrated its intent and commitment within the proposal and has actively engaged with the community. As the Foundation has earned the trust of the Cardano community and established a strong base, proceeding with them as the initiative driver is sound.
This action is crucial not only for the Foundation's primary asset but also because the successful listing of a major community token (like SNEK) serves as a vital blueprint and gateway for the listing of all other Cardano Native Tokens (CNTs) on major exchanges. Given the current competitive dynamics of the crypto market, accelerating the presence and liquidity of key Cardano dApps on exchanges is an urgent necessity. Failure to do so risks stalling the critical inflow of new developers into the Cardano ecosystem.
The "Loan" mechanism provides an intelligent and acceptable framework for initiating this essential market expansion through a trusted community partner. Therefore, despite the hesitation on the financial specifics, I vote FOR based on the compelling strategic necessity of this listing expansion.
اگرچه در مورد میزان و زمانبندی پرداخت فعلی تحفظ دارم و ترجیح میدهم رویکردی مرحلهایتر، شاید همسو با معرفی پروژههای مهم آینده مانند Night، اتخاذ شود، اما مفهوم کلی این طرح به عنوان یک وام از خزانهداری، یک حرکت استراتژیک ضروری و بسیار مثبت برای اکوسیستم است.
بنیاد Snek نیت و تعهد خود را در پروپوزال به وضوح نشان داده و در زمینه تعامل با جامعه اقدامات موثری انجام داده است. این بنیاد مورد اعتماد جامعه کاردانو است و یک کامیونیتی قوی برای خود ساخته، بنابراین میتوان به اجرای این طرح توسط آنها اطمینان کرد.
این اقدام نه تنها به لیست شدن دارایی اصلی این بنیاد کمک میکند، بلکه به طور غیرمستقیم مسیر را برای لیست شدن تمام توکنهای بومی کاردانو (CNTs) در صرافیهای بزرگ هموار میسازد. در وضعیت رقابتی کنونی بازار کریپتو، تسریع در حضور و نقدینگی دپهای کاردانو در صرافیها یک ضرورت فوری است. تأخیر در این امر میتواند باعث از دست رفتن جریان حیاتی ورود توسعهدهندگان جدید به کاردانو شود.
مکانیسم «وام» یک چارچوب هوشمندانه برای آغاز این گسترش ضروری بازار از طریق یک شریک مورد اعتماد جامعه فراهم میکند. بنابراین، علیرغم تردید در جزئیات مالی، به دلایل استراتژیک و اهمیت حیاتی گسترش لیستینگ، رأی آری میدهم.
- Yes568K ₳Rationale
Generating revenue for the Cardano Treasury is critcial for the long term sustainability of the network and Treasury. The SNEK team and community deserves the opportunity to prove themselves as an industry leading brand/IP. A great test for the Treasury for loans.
- No550.1K ₳No rationale
- Yes506.2K ₳No rationale
- Yes503.6K ₳Rationale
I'm voting yes because this is literally a no-risk proposition with real upside for demonstrating that Cardano treasury can function as actual financial infrastructure, not just a grant-dispensing machine. SNEK didn't ask for permission. It built organically, created its own community, drove real trading volume, and introduced people to Cardano who would never have cared about Voltaire governance or eUTXO architecture. That's valuable. Memecoins are often the gateway drug to broader ecosystem participation. It's symbolic acknowledgment of a community movement that already exists and thrives. Every successful chain has embraced their memecoins. Dogecoin put crypto in the mainstream. PEPE drove Ethereum engagement. Even Solana's memecoin casino gets people in the door. Fighting this is like standing on the beach yelling at the tide. Culture eats strategy for breakfast, and memecoin culture is real whether we like it or not. This isn't about SNEK being serious infrastructure. It's about acknowledging that not everything needs to be buttoned-up and institutional. Sometimes a cute snake memecoin does more for adoption than another governance working group. The only argument against this is ideological gatekeeping about what deserves treasury support.
- No501.6K ₳Rationale
Memes are a distraction from the purpose of Crypto in general and Cardano specifically, we should not be encouraging this behaviour!
- Yes501.3K ₳Rationale
- Yes481.2K ₳No rationale
- Yes466.2K ₳Rationale
I support this loan !
- Yes393.6K ₳No rationale
- NoRevoted379.5K ₳History
Earlier votes
No10mo agoSuperseded
- Yes379.1K ₳No rationale
- Abstain371.7K ₳No rationale
- Yes366.6K ₳No rationale
- No358.6K ₳No rationale
- No356.1K ₳Rationale
The Cardano ecosystem has multiple lending products that I'm sure would be happy to facilitate this loan as they have done for the listing fee loans of other projects. Cardano-based projects should be utilizing and supporting the products that are built on Cardano and not trying to work around them.
- Yes338.2K ₳No rationale
- YesRevoted329.3K ₳History
Earlier votes
Yes10mo agoSuperseded