Cat memecoin ZCAT pays holders $2.8M in Zcash as ZEC tops $1,200
A new token applies a 3% transfer tax and uses proceeds to distribute ZEC, totalling $2.8 million so far.
A newly launched cat-themed memecoin, ZCAT, has distributed approximately $2.8 million in Zcash (ZEC) to its holders, according to a report from CoinDesk. The payout mechanism is tied directly to trading activity in the token.
ZCAT applies a 3% fee on every transfer or trade. The collected fees are then used to buy Zcash and distribute it proportionally to existing token holders. This creates a direct revenue stream for holders that is settled in ZEC, one of the better-performing cryptocurrencies in recent weeks.
The report notes the payouts come as ZEC briefly climbed above $1,200, drawing attention to the token's unusual reward structure. While memecoins often rely on community hype, ZCAT's model attempts to tie holder rewards to an external asset's value.
As with any newly launched token, ZCAT carries significant risks, including low liquidity and price volatility. Investors should verify claims independently before participating in such projects.