Cardano Treasury Refuses SNEK, Midnight Listing Fee Requests

What to Know:

Charles Hoskinson rejects treasury funding for SNEK, Midnight listings.
Cardano’s community reacts to the decision, emphasizing transparent governance.
Projects must self-fund exchange listing fees, affecting SNEK’s strategy.

cardanos-treasury-and-snek-listing-fee-decision — Cardano’s Treasury and SNEK Listing Fee Decision

Charles Hoskinson announced via X that Cardano’s treasury won’t fund listing fees for SNEK or Midnight, confirming the funding decision amid community proposals for exchange costs.

This decision underscores Cardano’s dedication to treasury integrity, requiring SNEK and Midnight to find alternative funding, impacting their listing strategies and community expectations.

Charles Hoskinson announced the Cardano treasury will not pay listing fees for SNEK and Midnight on his official X account.

The refusal to fund underscores Cardano’s commitment to resource transparency, prompting mixed community reactions and compelling projects to seek alternative funding sources.

Cardano Treasury Rules Out Funding for SNEK Listings

Charles Hoskinson confirmed that the Cardano treasury will not support exchange listing fees for SNEK and Midnight. The announcement responded to the SNEK community’s proposal for a treasury withdrawal.

The decision involves refusing to allocate funds from the community-governed treasury, aimed at preserving its intended focus. Projects like SNEK and Midnight must independently handle listing costs.

Financial Constraints and Community Reactions to Policy

The decision limits exchange listing options for SNEK and Midnight, reinforcing the principle of decentralization. Cardano’s liquidity and total value locked have remained stable.

Financially, the projects face listing expenses ranging from $100,000 to $500,000 for Tier 1 exchanges. Cardano prioritizes infrastructure over market incentives for tokens. “I support and like the SNEK community, but no one is getting listing fees (including midnight) covered by the treasury,” said Charles Hoskinson.

First Listing Fee Refusal Reflects Treasury Priorities

This marks the first refusal of such a proposal for listing fees, maintaining Cardano’s treasury focus on upgrades and public goods. Similar community-led efforts have faced funding challenges.

Experts suggest that this policy will encourage project-led funding initiatives, potentially through bonds or structured repayments, aligning with Cardano’s governance vision.

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