Cooking.City, a token issuance platform within the Solana ecosystem, has successfully raised $7 million in a financing round led by Jump Crypto. Other participants in the round include CMT Digital, Mirana, Bitscale Capital, and EVG. The platform aims to innovate the token issuance process by introducing a sustainable, incentive-driven, and community-focused model.
Cooking.City's new model features value redistribution, where most platform fees are returned to developers and users, and a confidence pool mechanism requiring token issuers to deposit funds in advance. Additionally, it incorporates a social-based value distribution system, which includes a referral rebate system and redistributes fees to support community recommendations and transaction rewards, with a portion allocated to the token issuer and the platform's long-term development.
Solana's Cooking.City Secures $7M in Funding Led by Jump Crypto
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