SNEK is a meme coin that was recently launched on the Cardano blockchain. As the token of the SoliSnek crypto, SNEK is of interest to meme coin enthusiasts. In this article, you can learn about the project and its token.
A Comprehensive Review of SoliSnek Crypto and SNEK Token – 2023
Built on the original Solidly idea and now available on the Avalanche blockchain, Solisnek is a ground-breaking decentralized exchange (DEX) and automatic market maker (AMM).
By using a mathematical algorithm, Solisnek, an AMM, establishes a market for every particular token, enabling users to trade it decentralized. In other words, Solisnek doesn’t employ conventional order books to match buyers and sellers; instead, it lets customers trade directly with the platform’s liquidity pool.
Tokenomics
The new Solidly platform on AVAX called SoliSnek employs SNEK as its native token. Users will be able to buy, lock, and vote with SoliSnek, making it the cornerstone for the new liquidity layer for AVAX. This will create a reliable system for the forthcoming version of DeFi on Avalanche.
veSNEK
The ERC-721 coin veSNEK uses a vote escrow mechanism. Only by locking your $SNEK tokens will you be able to get it. The main application of veSNEK is voting on liquidity pools and allocating $SNEK emissions to them while also receiving swap fees and gauging bribery according to the liquidity pool(s) they voted on.
veSNEK Benefits
The following are the benefits of the vSNEK token:
- 100% of dex trading fees and TBD% of everlasting exchange fees, whenever created and implemented, will go to veSNEK voters.
- Users can separate and merge veSNEK NFTs to construct strategies as they see suitable.
- In the near future, maturing veNFT based on Byte Masons Reliquary will also be put into practice.
- veSNEK lockers are protected from diluting by 20%.
You currently have 1,000 veSNEK or 10% of the available 10,000 SNEK. The gauges received an additional 10,000 SNEK during the era, bringing the total SNEK supply to 20,000. You can add 200 additional SNEK (1000*0.2) to your veSNEK position after the epoch flips, making your holdings 6% of the total supply.
Team
The team that created SoliSnek crypto consists of talented people.
Terry, the CEO
Having a strong technical foundation in blockchain and cryptocurrency has helped several finance businesses achieve self-sustaining success. He has expert knowledge from a variety of cryptocurrency initiatives in the areas of marketing, business development, and community management.
Memo, the CTO
He has held the position of CTO at several fintech and edtech firms. He has also done considerable work on several cryptocurrency projects, including DEXs, launchpads, and even several well-known wallets. He is passionate about upholding the underlying principles of DeFi and will do all it takes to see that this project is a success.
LittleFish, the Front-end dev
He or she delivers top-notch UX/UI with years of experience in front-end development.
GT
Responsible for BizDev and social media. He/she has dominated DeFi since the beginning of 2020. He/she believes that the world will finally see the true value of crypto. He/she has extensive experience in community building, helping teams achieve their goals, and building long-lasting partnerships between great projects.
DodusSneksodus
Community manager and general support guru. Involved in crypto since 2018.
Roadmap
You can see the roadmap of SoliSnek crypto in the image above.
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