SNEK is a native token on the [Cardano](https://coinmarketcap.com/currencies/cardano/) blockchain, which is secured by the Proof-of-Stake (PoS) consensus mechanism. Decentralized validators, known as Stake Pool Operators (SPO), process transactions and secure the network.

The initial SNEK supply was 76,715,880,000 tokens. At launch, 90% of the supply was distributed to the public and LP. SNEK is a deflationary memecoin. It features multiple burning mechanisms in which some tokens are removed from circulation at regular intervals, increasing buying pressure and decreasing supply in a sustainable manner.

SNEK is one of the first popular memecoins with its culture originating from the web3 space. It launched during the bear market and quickly attracted one of the most dedicated and vocal communities. SNEK sparked a movement of unity across the Cardano ecosystem and garnered attention like no other project had before.

SNEK is a deflationary memecoin that was launched on [Cardano](https://coinmarketcap.com/currencies/cardano/). It has become a cultural crypto movement and an icon in the web3 world, representing fun and innovation. SNEK is the largest token on Cardano in terms of trading volume and a unifying force within the ecosystem. It brings excitement to its community and plays a leading role in making the crypto space accessible, engaging, and meaningful. With its roots in internet culture and fueled by a dedicated online community, SNEK serves as a vital bridge for web3 onboarding. The project's goal is to leverage the popularity of memecoins, such as [Pepe](https://coinmarketcap.com/currencies/pepe/), [Bonk](https://coinmarketcap.com/currencies/bonk1/), [Shiba Inu](https://coinmarketcap.com/currencies/shiba-inu/), and [Dogecoin](https://coinmarketcap.com/currencies/dogecoin/), and establish itself as one of the top meme-based cryptocurrencies. The SNEK community is enthusiastic about pushing the limits of what a memecoin can achieve, with a vision to bring social finance within and beyond the Cardano ecosystem. SNEK aims to become a leading currency for meme creators worldwide.