I am voting YES on this proposal because I believe it offers both strategic and financial value to the Cardano ecosystem. One of the major gaps for Cardano today is the lack of strong visibility and liquidity on Tier 1 exchanges. SNEK has already demonstrated that it is one of the few Cardano-native tokens capable of meeting the requirements for such listings, and it is well-positioned to open this path for the ecosystem at large. By leveraging its momentum, Cardano can secure greater recognition and liquidity in global markets, which ultimately benefits ADA and the broader ecosystem.
Equally important is the financing model being proposed. Instead of requesting a one-time grant, the Snek Foundation is asking for a repayable loan, which sets a healthier precedent for Treasury funding. If the loan is taken for the full 5-year term, the repayment will total approximately 5,640,503 ADA, of which 640,503 ADA would be interest. This represents a 12.8% return on the principal, meaning the Treasury stands to gain substantially, nearly two-thirds of a million ADA on top of recovering its original 5 million ADA. This is a significant improvement over grant-based requests, as it both strengthens accountability and ensures Treasury sustainability.
The credibility of the Snek Foundation also weighs heavily in my decision. The team has already proven its capacity to deliver results by securing high-profile listings on Kraken, Kucoin, and Crypto.com, making them the first to achieve Tier 1 listings for a Cardano-native token. This track record gives confidence that they can execute effectively on the goals of this proposal. Furthermore, the inclusion of Intersect oversight, independent audits, and a high-profile advisory board provides strong accountability structures, ensuring the Treasury’s interests are safeguarded throughout the loan period.
For these reasons, I consider this proposal a responsible and impactful use of Treasury funds. It advances Cardano’s visibility and liquidity, establishes a precedent for repayable funding, offers tangible financial returns, and is backed by a team with proven delivery capability and adequate oversight mechanisms.