Zcash Memecoin ZCAT Dishes Out $8M in Three Weeks

A Solana-based memecoin called ZCAT has quietly become one of the most effective distribution channels for Zcash, paying out approximately 5,963 ZEC tokens to holders in just three weeks. This sum is worth roughly $8 million at prevailing market prices as of September 16.

Every time a ZCAT transfer or trade occurs, it gets hit with a 3% tax, which is automatically converted into ZEC and airdropped to eligible holders. No staking, no claims process, no hoops, just hold at least $20 worth of ZCAT and the Zcash shows up in your wallet.

The mechanism has been successful due to two converging forces: ZCAT’s own trading volume generating the 3% tax revenue, and ZEC's price doing something it hadn't done in years. Zcash climbed above $1,200 in early September, representing a gain of more than 2,300% year-over-year.

At its peak, ZCAT itself reached a market cap of roughly $170 million, attracting tens of thousands of holders drawn by what amounts to a dividend-like payout structure for a memecoin. The token has since experienced the kind of valuation swings that anyone familiar with memecoins would expect.