Solana Memecoin ZCAT Pays Out Over $3 Million in Zcash Rewards

A Solana-based memecoin called ZCAT has paid out over $3 million in Zcash rewards to its holders. This rare distribution mechanism relies on transaction fees to reward holders with ZEC, a cryptocurrency that focuses on user privacy.

ZCAT charges a tax of 3% on each sale, using the generated fees to reward owners who hold more than $20 worth of the token. So far, approximately 2,320 ZEC have been disbursed, equivalent to roughly $2.8 million at current prices.

The value of ZEC has surged over 2,300% in the last 12 months, and is now trading at $1,180 due to rising interest in privacy-oriented crypto assets like Zcash. As a result, the rewards for ZCAT holders have also increased significantly.