Anonymous Cat (ZCAT), a cat-themed meme token on Solana, has distributed about 2,320 Zcash (ZEC) to eligible holders through its built-in transaction tax system, according to BlockBeats. Based on the latest price referenced in the report, those payouts are worth roughly $2.75 million, and more than 470,000 reward transfers have already been completed. ZCAT charges a 3% tax on each transfer, with most of that amount converted into ZEC and then sent to wallets holding at least $20 worth of ZCAT. The report said the recent sharp rise in ZEC has increased the dollar value of rewards received by token holders. At the same time, the payouts do not come from operating income or any external business activity. They are funded by taxes collected when other users buy, sell, or move ZCAT, which means the size of future rewards is closely tied to how active trading in the token remains. GMGN market data cited in the report showed ZCAT with a market capitalization of about $111 million, a 24-hour decline of 4.39%, and roughly $20.5 million in 24-hour trading volume.
Anonymous Cat (ZCAT), a cat-themed meme token in the Solana ecosystem, has distributed about 2,320 Zcash (ZEC) to eligible holders through its transaction tax mechanism, BlockBeats reported on Sept. 9. Based on the latest price cited in the report, the payouts are worth about $2.75 million, with more than 470,000 reward distributions completed.
ZCAT applies a 3% tax every time the token is transferred. Most of the collected funds are converted into ZEC and then distributed to wallets holding at least $20 worth of ZCAT.
The report said ZEC's recent sharp rally has materially increased the size of rewards received by ZCAT holders under that setup.
BlockBeats also noted that the ZEC paid out to holders does not come from revenue generated by a business. Instead, it comes from transaction taxes triggered by other users buying, selling, and transferring ZCAT. That means the scale of rewards depends heavily on ZCAT's own trading activity. If trading volume falls, the amount of ZEC distributed to holders would also drop sharply.
According to GMGN market data cited in the report, ZCAT currently has a market capitalization of about $111 million, is down 4.39% over the past 24 hours, and has posted about $20.5 million in 24-hour trading volume.
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