SNEK is a memecoin on the Cardano network that operates on a deflationary model. It has quickly become an iconic symbol in the web3 community, representing creativity and playfulness. The project's aim is to build on the popularity of memecoins like Shiba Inu, Bonk, Pepe, and Dogecoin, and establish itself as one of the top meme-based cryptocurrencies. The SNEK community is passionate about exploring the possibilities of memecoins and is determined to make a difference in social finance, both within and outside the Cardano ecosystem. Ultimately, SNEK strives to become the go-to currency for meme creators worldwide.
SNEK was launched on the Cardano blockchain and uses a unique proof-of-stake consensus mechanism known as Ouroboros. Unlike Bitcoin and Ethereum, which rely on energy-intensive proof-of-work systems, SNEK uses Ouroboros to validate transactions on the Cardano Settlement Layer (CSL), which contains all of the ledger information. Additionally, the Cardano blockchain is divided into two separate layers, with the Cardano Computing Layer (CCL) handling all of the computations for apps running on the blockchain through the use of smart contracts.
SNEK has a total supply of 75,685,749,387. The current circulating supply of SNEK is 73,235,343,051.
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