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Snake Finance
Snake Finance
SNAKEAlgo-Stables
DeFiLlama Algo-Stables·$16.2 TVL·+0.03% 1h·+0.81% 24h·+10.57% 7d·$101.6K MCap

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Protocol TVL

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Fees & Revenue

24h Fees
$2.6K
4095.24%
7d Fees
$3K
30d Fees
$8.2K
All-Time Fees
$5.5M

Chain Fees Distribution

1 Chains
$2.64K Total Fees

Revenue Breakdown

$2.64K
24h Fees
View Full Details

About Snake Finance

Snake Finance, an Algorithmic Stablecoin where 1 $SNAKE is equivalent to 1 $S. Algorithmic stablecoins are non-collateralized tokens designed to follow the price of their pegged asset, offering greater capital efficiency than traditional collateralized stablecoins

Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.

How Snake Finance's TVL is measured

DeFiLlama publishes the exact rules used to aggregate on-chain balances into the headline TVL figure shown on this page. The methodology below is the team's own source-of-truth description.

Pool2 deposits consist of SNAKE/S and GSNAKE/S LP tokens deposits while the staking TVL consists of the GSNAKEs tokens locked within the Masonry contract(0x5A5d34826ab31003F26F8A15e9B645803d85eA81).

If a contract or vault isn't in this list, its balance does not contribute to the TVL displayed on Mantapex or DeFiLlama.

Snake Finance tokenomics and on-chain capital

Snake Finance's governance or utility token carries a market capitalisation of $101.6K based on circulating supply at the latest DeFiLlama snapshot. The market is pricing the token ($101.6K) above the protocol's on-chain TVL ($16.2) — a mcap/TVL multiple of 6274.94× implies investors are paying for expected future fee flows rather than current deposits alone. A further $50K sits in the protocol's native staking modules — these deposits are typically locked, vote-bonded, or earning a share of fees, and they reduce the freely circulating float that can hit the market.

Token market cap
$101.6K
Circulating supply × price
Tokens staked in protocol
$50K
Locked native staking
Mcap / TVL ratio
6274.94×
Valuation vs deposits

Market cap and supply figures are sourced from DeFiLlama's price feed (which reconciles CoinGecko, CoinMarketCap, and on-chain DEX prices). Treasury and staking values reflect on-chain balances controlled by the protocol at last sync.

Security & Audits

No public audits on record
Price oracles
DIA· Primary

Oracles supply external price data to on-chain contracts. Oracle compromise is a common attack vector — diversified providers reduce single-point-of-failure risk.

Snake Finance Timeline

Major events flagged by the DeFiLlama community — protocol launches, exploits, governance changes, and incentive programs.

  1. Feb 7, 2025
    Listed on DeFiLlama
  2. Feb 15, 2025
    Genesis Phase Ended

Protocol Profile

Snake Finance is a Algo-Stables issuance protocol — it mints stable units against collateral (crypto, RWA, or off-chain reserves) and uses redemption or rebalancing mechanisms to hold the peg. It is deployed on Sonic. DeFiLlama tracks 1 historical event for this protocol since 2025.

TVL Distribution by Chain

TVL spans 5 chains across the deployment. See the breakdown below for per-chain values.

Sonic-pool2
$120.8K(35.3%)
pool2
$120.8K(35.3%)
Sonic-staking
$50K(14.6%)
staking
$50K(14.6%)
Sonic
$16.2(0.0%)

Supported Chains

Sonic

Protocol Footprint

Snake Finance is a single-chain protocol, deployed exclusively on Sonic — this concentrates execution risk but simplifies the trust model. TVL is comparatively balanced across networks: even the largest deployment (Sonic-pool2) holds only 35% of the protocol's value. Price feeds come from a single oracle provider (DIA); an outage or manipulation of that feed would propagate into every market the protocol prices. Its token market cap ($101.6K) currently exceeds total value locked ($16.2) — a mcap/TVL ratio of 6274.94 suggests the market is pricing in more growth than current deposits support.

Official Resources & Links

Verified external resources for Snake Finance — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.

Project Website
snake.finance
Twitter / X — @SnakeOnSonic
twitter.com
Token on CoinGecko
coingecko.com

Other Algo-Stables protocols on Mantapex

Snake Finance is one of 7 Algo-Stables protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Frax, Mento V2, Generic.Money, and 3 more. These peer protocols collectively secure $86.8M in deposits, giving you a frame of reference for whether Snake Finance's own TVL is at the top, middle, or tail of the category.

Frax
Frax
TVL $63.3M · 24h +0.03%
Mento V2
Mento V2
TVL $17.6M · 24h +1.42%
Generic.Money
Generic.Money
TVL $3.5M · 24h +0.00%
DefiDollar DAO
DefiDollar DAO
TVL $864.2K · 24h +3.23%
Lumi Finance
Lumi Finance
TVL $841.8K · 24h -0.17%
Sigmausd
Sigmausd
TVL $565.7K · 24h -2.12%
Browse all Algo-Stables protocols on Mantapex

Recent Snake Finance news

Latest reporting from major crypto news outlets covering Snake Finance.

Related protocols

Other DeFi protocols connected to Snake Finance by category, deployment chain, or shared codebase lineage — useful for comparing TVL, fee models, or audit posture across direct peers.

Risk Warning

DeFi protocols carry inherent risks including smart contract vulnerabilities, liquidity risks, and potential loss of funds. Always do your own research before investing.

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