Solana memecoin ZCAT distributes $8 million in ZEC to holders
- —About 5,963 ZEC worth roughly $8 million was paid out at the September 16 price
- —A 3% tax on every ZCAT transaction is converted into ZEC and distributed to holders
- —By September 7, 2,320 ZEC had been distributed through about 470,000 payouts
- —ZCAT's peak market cap reached $170 million
Why it matters: The scheme shows how memecoins can become a channel for token distribution, but its sustainability depends on ZCAT's trading volume.
Source: Crypto Briefing