Solana meme coin ZCAT distributes $2.75M in ZEC to holders via transaction tax

Hu 火星 Finance reports that on September 9, the Solana-based cat meme coin Anonymous Cat (ZCAT) has distributed approximately 2,320 ZEC to eligible holders through its unique transaction tax mechanism, valued at around $27.5 million at current prices, with over 470,000 reward distributions completed. ZCAT imposes a 3% transaction tax on every transfer, with the majority of proceeds converted into Zcash (ZEC) and distributed to wallets holding at least $20 worth of ZCAT. As ZEC has recently surged in value, this mechanism has significantly increased the scale of ZEC rewards received by ZCAT holders. Notably, these ZEC rewards are not generated from business profits but are derived entirely from transaction taxes collected during user trading and transfers of ZCAT. Consequently, the size of ZCAT rewards is highly dependent on its own trading activity; a decline in trading volume would lead to a substantial reduction in ZEC rewards for holders. According to GMGN market data, ZCAT currently has a market cap of approximately $111 million, a 24-hour price decline of 4.39%, and a 24-hour trading volume of about $20.5 million.