Cooking.City, Solana's eco-token issuance platform, has closed a $7 million funding round led by Jump Crypto

PANews
PANews
SOL+1.86%

PANews reported on May 30 that Cooking.City, a Solana ecological token issuance platform, completed a $7 million financing, led by JumpCrypto, with participation from CMTDigital, Mirana, BitscaleCapital and EVG.

According to reports, Cooking.City proposes a new model of sustainable, incentivized feedback, and community-centered on-chain issuance, including: value redistribution (redistributing most of the platform fees to developers and users), "confidence pool" mechanism (token issuers need to deposit a certain amount of funds in advance in the smart contract), and a social-based value distribution system (introducing a referral rebate system and redistributing fees within the ecosystem, and most of the fees are used for community recommendations and transaction rewards, Part goes back to the token issuer, and the rest goes to the long-term development of the platform).

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