- IO and $SNEK collaborate to support decentralized innovation on Cardano.
- $SNEK accounts for 16% of all-time Cardano trading volume.
- Market cap spiked on June 2 following strategic announcements and community engagement.
Input Output (IO), the firm behind Cardano’s blockchain infrastructure, has entered a partnership with $SNEK. $SNEK stands out as the top community token on the Cardano network after its native ADA coin.
This move, according to both parties, aims to effectively support grassroots projects and significantly strengthen the overall Cardano ecosystem.
Hoskinson: $SNEK’s Community Model Aligns with IO’s Mission
Charles Hoskinson, CEO of IO, said $SNEK’s user-led model fits with IO’s goals.
“Snek’s community-driven approach aligns with IO’s mission to foster such innovations on Cardano,” he stated. “This collaboration supports our shared goal of enhancing the ecosystem.”
$SNEK Records Strong Adoption Metrics
$SNEK launched in April 2023 with no early allocations to insiders or venture capital. Since then, it has grown into the most traded token on Cardano after ADA, contributing 16% of the network’s lifetime trading volume.
The project now has more than 40,000 holders and is integrated with over 60 decentralized apps. On social media, it has attracted over 80,000 followers. One of its updates — a listing on Kraken — reached more than 555,000 views, showing broad engagement across the community.
More Than a Meme: $SNEK’s Ventures Drive Real Utility
Beyond its popularity, the team behind $SNEK is also contributing tangible value. Snek.fun , a token launchpad from the $SNEK team, is tied to nearly one-third of all Cardano trading activity.
Another effort, Snek.energy , offers branded consumer goods and has already passed $500,000 in sales.
Because of these efforts, $SNEK now ranks among the top memecoins by market cap worldwide. The project’s activity continues to draw attention from developers and platforms within Cardano’s ecosystem.
$SNEK Market Cap Surge on June 2. Source: CoinMarketCap
$SNEK Team Welcomes IO Partnership as Catalyst for Expansion
Goofycrisp, a core team member at $SNEK, welcomed the collaboration.
“This partnership with IO validates our work and vision. It gives us the support to expand further while continuing to build within Cardano.”
For its part, IO confirmed it remains focused on supporting open, decentralized networks through infrastructure and community-led efforts.
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