Quantum SNEK Community Burns 2.44 Million Tokens on Cardano Graveyard

Quantum SNEK holders removed 2,444,492 tokens from circulation through Cardano Graveyard, SongMarketCap’s platform for burning Cardano native tokens. On October 18, the project stated that it no longer saw a need for additional team burns and wanted to concentrate on strengthening trading liquidity.

The burn address used by the platform held more than 92.4 million of the project’s tokens as of October 18. That balance includes earlier transfers and represents approximately 9.24% of the initial supply.

Seven Burns on Cardano Graveyard

Graveyard’s records show seven confirmed community burns between October 16 and 18. The first retired 156,300 tokens, while the largest individual transaction removed 1,540,571 tokens from circulation.

At the time of verification, Quantum SNEK accounted for the platform’s seven most recent burn records. The project ranked third by the cumulative dollar value of confirmed burns recorded through Graveyard.

Cardano Graveyard launched on September 29. Users select a supported Cardano token, request a quote for their chosen amount, and sign a transaction sending the tokens to a permanently unspendable address.

Only confirmed burns completed through Graveyard contribute to its leaderboard. Direct transfers to the same address remain visible on the blockchain but are excluded from the platform’s rankings.

More Than Nine Percent of Supply Retired

Quantum SNEK launched through snek.fun in August 2025. Koios records a single issuance of one billion tokens, with no subsequent minting or policy-level burning.

The burn address holds 92,412,934 QSNEK tokens, approximately 9.24% of the initial supply. The seven transactions completed through Graveyard over the weekend represent roughly 0.24% of that initial supply and form part of the accumulated balance.

Here, burning means permanently removing tokens from circulation by transferring them to an unspendable address. The tokens remain recorded on the blockchain, so the total on-chain supply still stands at one billion.

On its official website, Quantum SNEK describes a community project intended to support other Cardano builders while rewarding holders. Its published treasury model includes collecting income-generating NFTs and buying back tokens for collaborations, partnerships, and giveaways.

Solada Rewards and Cardano Liquidity

The project also expanded to Solana through JUSTQ, a separate token launched through Solada on October 12. According to the launch announcement, 69% of creator rewards are allocated to holders of that token, with payments made in ADA.

An October 16 update stated that holders across Cardano and Solana could view and collect their share of creator rewards by connecting wallets from both networks on Solada.

The team subsequently linked the community’s burning activity with its own spending priorities. In its October 18 update, it wrote, “I see no need for any more team burns,” adding that it could now focus on building the project’s trading liquidity on Cardano.