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- Cardano Foundation approves a $2.1M loan to enhance global listings of Cardano Native Tokens (CNTs), including SNEK.
- The proposal aims to increase liquidity and market visibility for Cardano tokens on major international exchanges.
- Stronger governance measures were introduced to ensure transparency and responsible management of the loan funds.
The Cardano Foundation has officially supported a key proposal to increase the global reach of Cardano Native Tokens (CNTs), marking a significant milestone for the ecosystem. This decision, taken in favor of a treasury withdrawal request, is part of a broader effort to list Cardano-based tokens like SNEK on major international exchanges. The move is expected to improve the ecosystem’s liquidity, visibility, and overall growth on a global scale.
Loan Proposal to Facilitate Global Exchange Listings
The proposal titled “Loan ₳5,000,000 to Expand Cardano’s Global Listings” outlines a request for a loan of 5 million ADA, approximately valued at $2.11 million. Initially framed as a non-repayable grant, the request has evolved into a formal repayable loan. This strategic adjustment played a pivotal role in the Cardano Foundation’s change of stance, which previously abstained from voting on the proposal in August 2025. With the proposal now structured as a loan, the Foundation is more confident in the financial sustainability and transparency of the project.
The goal of the proposal is to ensure Cardano-based tokens, especially SNEK, are listed on high-profile global exchanges, thereby increasing their accessibility and market liquidity. This move is seen as a critical step toward boosting Cardano’s ecosystem and expanding its reach in the competitive world of digital assets.
A Shift in Cardano Foundation’s Position
The Cardano Foundation’s position on the proposal has undergone a notable shift. Initially, there was hesitation due to concerns over the use of treasury funds for exchange listings of tokens like SNEK and NIGHT. The Foundation also raised questions regarding governance and the overall accountability of the project.
However, with the introduction of enhanced governance measures—including oversight by Intersect and the establishment of an advisory board—the Cardano Foundation’s vote of approval was secured. The added transparency and governance safeguards are aimed at ensuring that funds are managed responsibly and that the global listings process remains open and accountable.
Also Read: Solana Founder Praises Cardano’s Consensus Mechanism
Strong Community Support and Final Voting
As of November 2025, the proposal has garnered significant backing from the Cardano community. The constitutional committee overwhelmingly supported the proposal with 85.71% voting in favor, while the Delegated Representatives (DReps) expressed 75.98% approval. These votes indicate a high level of community confidence in the project, which will culminate in the final voting process scheduled to close on November 25, 2025.
This collaboration between the Snek Foundation and the Cardano Foundation marks a promising new chapter for Cardano’s token ecosystem and sets the stage for broader global adoption.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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