ZCAT Distributes $2.8 Million in Zcash to Token Holders as ZEC Tops $1,200

A newly launched cat-themed memecoin, ZCAT, has distributed $2.8 million worth of Zcash (ZEC) to its holders, according to CoinDesk. The token applies a 3% tax whenever it is transferred, with the proceeds used to distribute ZEC to holders. The structure gives ZCAT an unusual connection to Zcash, one of the crypto market’s strongest-performing assets in the reported period. ZEC has climbed above $1,200, increasing the value and visibility of the rewards paid through the mechanism. ZCAT’s model links activity in the memecoin directly to distributions of another cryptocurrency, rather than relying solely on changes in ZCAT’s own market value. The project is brand new, and its reward system is centered on the 3% transfer charge and subsequent ZEC payments.