The post Cardano Welcomes Launch of New Memecoin Creator Snek.Fun appeared on BitcoinEthereumNews.com.

Snek.Fun pulls user attention in its first few hours of debut, with the Cardano-based protocol struggling to keep up with increased demand. The Cardano network could be the next chain where the meme frenzy sojourns after the debut of a memecoin launchpad. Snek.Fun, a memecoin creator, went live on the network late Thursday and was met with enthusiasm and criticism alike. Snek.Fun is a project affiliated with Snek, the most popular memecoin on the Cardano ecosystem. The deflationary memecoin took the Cardano ecosystem by storm after its April 2023 debut and has made notable contributions to the blockchain. Its latest endeavor, Snek.Fun, gained traction immediately after launch, with users flocking to create memecoins on the platform. The protocol’s official X account noted that it had over 20,000 users in ten seconds, with the traffic stressing its platform. Traffic Overloaded Snek.Fun APIs Due to the massive influx, the protocol’s server became overloaded. This caused transactions on the platform to slow down, and users complained about unsuccessful token creation. Moreover, users complained they made transactions on the platform and neither received their created token nor a refund, as the protocol was unresponsive for a long time. A few others criticized the developers behind the platform, noting that they didn’t stress-test before launch. Notably, Snek.Fun posted a few hours later, confirming that it had worked on the overloaded API and transactions were flowing better. However, the team noted it was still working to improve the situation. Transactions are starting to go through and trading is getting smoother. Still work to do, but making progress 🫡$bjorn is officially the first token to hit 1 Million ada market cap 🎉 pic.twitter.com/uVSs9TXFLK — snek.fun (@snekdotfun) September 5, 2024 Meme Frenzy? Meanwhile, tokens deployed from Snek.Fun has seen massive attraction after just a few hours of trading.…

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Filed under: News - @ September 6, 2024 7:21 am