Snek (SNEK) is a deflationary memecoin launched on the Cardano blockchain in 2023, embracing a community-driven approach to development and growth.
Snek employs deflationary tokenomics to maintain scarcity over time, with a token-burning mechanism that gradually reduces the total supply – a mechanism not often found in memecoins.
The project has a decentralised and community-driven structure with no formal team or roadmap, relying instead on the collective efforts of its community to shape its development and direction.
The SNEK token serves as the project’s governance token, allowing holders to participate in decision-making processes. Additionally, it can be staked for potential rewards, incentivising long-term holding.