As a project builder yourself, capitol in development of a project is usually allocated to different aspects of the products continued development, not sitting in a stockpile just waiting to be used.
$SNEK has unlocked the potential for all CNTs to be listed on Kraken, HTX, KuCoin, and others as they have fostered the relationships that made exchanges do the required work necessary to be able to list them. This is not cheap and
$SNEK funded this. The result of this?
$WMTX has just been listed and
$IAG are in talks with Kraken currently.
The founding entities were supposed to have developed this support long ago and have not delivered until
$SNEK rallied the troops.
There is a camp that thinks the problem we have is a lack of great dapps, but we all realize a lack of users and liquidity on chain. Lack of stable liquidity is a big part of this. As you are a builder yourself on chain, how are you going to market your product to non Cardanon that we are a part of a flourishing ecosystem when our liquidity and user count is low?
If we are sticking to home grown stable and liquidity solutions that will take years to develop, what is currently the most liquid CNT available that can go in and out of exchanges to provide collateral opportunity, arbitrage opportunities?
$SNEK. This is evidenced by
@levvyfinance, flow, and
@strikecardano and prev Lenfi having the most utility out of
$SNEK based pools.
There’s the camp that says use one of our own lending protocols. What lending protocol has the ability to lend 5 million
$ADA, someone educate me on this if there is a readily available? Available
$ADA on flow is 1 mil currently, TVL on Leevy is 1.55 mil, and Lenfi rugged
I’ll play devils advocate and say
$SNEK doesn’t ever intended to pay the loan back but the listings still occur. You have then paid 5 million
$ADA for the infrastructure for all CNTs to be listed on these other platforms moving forward and the brand damage for
$SNEK would be irreparable.
$ADA maxis get their wish and
$SNEK is toast.
$SNEK started as a meme. But
$SNEK IS Cardano liquidity. Liquidity brings users. Cexs make obtaining
$SNEK for non Cardanon easier therefore bringing liquidity to the entire ecosystem, just look at the exchange arb bots.