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Cardano-based meme coin creator Snek.fun launches creator fees, allowing token creators on the platform to earn a percentage of trading volume directly in $ADA.
The feature introduces a new monetization model for projects launched through Snek.fun while creating stronger incentives for creators to increase trading activity around their tokens.
Key Points
- Snek.fun has launched creator fees that allow token creators to earn $ADA directly from trading activity.
- Creators can earn 0.3% of trading volume before token graduation and 1% after graduation.
- Songmarketcap founder Jure Karamarko criticized the Cardano community for showing very little interest in the update.
- The project made an impressive debut in September 2024, attracting more than 20,000 users within 10 seconds.
Snek.fun Launches Creator Fees for Token Creators
Snek.fun has unveiled a new creator fee system that enables token creators to earn $ADA directly from trading activity generated by their projects.
The platform recently announced the update, stating, “Creator fees are live.” Through the feature, creators can now monetize their tokens’ trading volumes more directly, marking a significant shift toward creator-focused monetization within the Cardano memecoin ecosystem.
In addition, a demo video accompanying the announcement revealed that creators can earn 0.3% of trading volume before a token graduates and 1% after graduation. The platform accumulates these rewards directly on Snek.fun, while creators can withdraw their earnings through a simplified “claim all” button.
Cardano Community Reacts
The feature quickly generated excitement across parts of Cardano’s memecoin community. Many users described the update as a strong incentive for developers and communities to launch tokens on Snek.fun.
However, the development did not receive the widespread attention many supporters expected. Consequently, Songmarketcap founder Jure Karamarko criticized the Cardano community for overlooking the update.
Karamarko argued that Snek.fun’s revenue-sharing model offers better terms than what Pump.fun provided at its peak. Furthermore, he suggested that the feature could significantly boost ecosystem activity and $ADA trading volumes. Despite this potential, he criticized the Cardano community for paying limited attention to the launch.
He also contrasted the muted reaction to creator fees with the intense debate surrounding governance proposal voting, suggesting that parts of the community may have misplaced priorities.
Snek.fun’s Early Success
It is worth noting that Snek.fun is affiliated with SNEK, Cardano’s most popular meme coin project. The platform debuted in September 2024 and quickly gained widespread adoption across the Cardano ecosystem.
As previously reported, Snek.fun attracted more than 20,000 users within 10 seconds of launch, overwhelming the protocol’s servers during its first few hours online.