Cat Memecoin ZCAT Funnels $2.8M in Zcash to Holders as ZEC Hits $1,200
A cat-themed memecoin skims a 3% transfer fee to dish out millions in Zcash straight to token holders.
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Key takeaways
- ZCAT levies a 3% transaction tax whenever tokens are transferred.
- Tax proceeds fund automated Zcash payouts totaling $2.8 million to date.
- The distributions come as Zcash trades above $1,200.
A new cat-themed memecoin is turning transfer taxes into privacy coin payouts. Named ZCAT, the token has already funneled $2.8 million worth of Zcash straight to its holders.
Here's how the mechanism works: ZCAT skims a 3% tax every single time the token moves between wallets. The protocol takes those tax proceeds, swaps them into Zcash (ZEC), and sends the coins directly to token holders. It's a pipeline connecting a pure speculative token with one of crypto's oldest privacy networks.
Those distributions are ballooning fast, thanks to Zcash's market surge. ZEC recently broke above $1,200, heavily boosting the dollar value of those routine payouts.
Why it matters
Most memecoins live and die on raw hype. Linking yield to a major asset like Zcash gives holders a genuine reason to sit tight rather than quick-flip. But look at the catch: transfer taxes actively punish trading, and the payouts depend entirely on heavy transaction volume to keep the money moving.
Source: CoinDesk
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