SNEK Introduces Deflationary Mechanisms: Will It Drive Price to New ATH?

11. Juni 2023

• The SNEK blockchain platform is set to launch seven new deflationary mechanisms, including an ETH to SNEK bridge, VacuumLabs game, weekly raffles, Sssnekpool and exclusive Discord roles.
• These mechanisms are designed to strengthen the platform and will include a user interface overhaul with a novel asset for SWAP Paima.
• To further incentivize community engagement, all profits from the stakepool will be used to buy and burn SNEK.

SNEK Introduces Deflationary Mechanisms

The SNEK blockchain platform is launching seven new deflationary mechanisms in order to strengthen its platform. This includes a bridge that has already converted 20 ETH with 1.07% of it earmarked for burning and a user interface overhaul introducing a novel asset for SWAP Paima.

VacuumLabs Game

An exciting addition to the platform is the VacuumLabsss game, expected to launch in June. Players can participate using ADA with daily rewards allocated to top players while 20% of the winnings go towards burning SNEK tokens.

Weekly Raffles

In order to stir up more community engagement, SNEK is also introducing weekly raffles. 80% of winnings will go towards one lucky participant while the remaining 20% will be dedicated towards burning tokens. Until smart contract integration into the website is complete, these raffles will be conducted manually.

Sssnekpool Stakepool

The official Sssnekpool stakepool is set to debut this weekend and all profits from it will be used towards buying and burning SNEK tokens as an incentive for participants staking their tokens on there.

Website V2 Upgrade

To make all these features easily accessible, web version 2 of the Snek Ecosystem is expected by June’s end. This website will facilitate activities such as Swapping, participating in Minigames and entering Raffles among other things. Additionally, there are ongoing marketing campaigns including murals in Lisbon, meme databases and art contests that have been put in place by legal experts onboarded by the team for potential CEXs listing too!