This proposal uses the proposed template for request: We want to open a MIN Farm!
1.1 Please describe your project. What is it doing to improve Cardano?
SNEK aims to be the chillest meme coin on Cardano with a fair distributed launch including 0% of the supply set aside to the team and a high circulating supply/low emissions right from the start. With a goal to unite communities across Cardano and onboard new users from outside chains.
1.2 What does the Token do? How many holders does it currently have?
The token is a memecoin based off one of the traits from the Magic Kongs collection. At the time of creating this proposal, the amount of SNEK holders is currently 3442.
1.3. Why do you want a MIN Farm? How does the Minswap community benefit from offering a MIN Farm for your Token? Apart from the MIN Farm, will you add your own Token as incentives as well? If yes, how much?
The main reason of starting a Triple Farm on Minswap is to incentivize our community in order to provide substantial liquidity for the native SNEK token. We will do this by providing rewards in the form of SNEK which will be in addition to the normal MIN farm (MIN + ADA) to any user participating during the duration set.
We will be distributing 767,158,800 SNEK to the SNEK/ADA farm. The incentives are to be distributed over 6 months.
1.4. How much circulating supply is there of your token? Please inform us briefly of your tokenomics, including the distribution and vesting schedule of the token (investors, team, yield farming, etc.)
SNEK has a total token supply of 76,715,880,000 with a current circulating supply of 70,578,609,600 (92%). This includes the supply allocated to these farm incentives.
A brief on the tokenomics can be found below:
50% - Presale
40% - Initial Liquidity
5% - Future Utility including 1% for Farm Incentives
3% - Reserved for CEX listing requirements, future developments, expansion
2% - Airdrops for contests, memes, community events
1.5. Is your Project audited? By whom?
No security audit was created for SNEK.
***Do you agree SNEK should have a MIN farm?
- Yes, in favor
- No, do not add this farm