PANews, May 30 - The Solana ecosystem token issuance platform Cooking.City has completed a $7 million financing round, led by JumpCrypto, with participation from CMTDigital, Mirana, BitscaleCapital, and EVG.
According to reports, Cooking.City has proposed a sustainable, incentive-based, community-centric new model for on-chain issuance, which includes: value redistribution (redistributing most of the platform fees back to developers and users), a 'confidence pool' mechanism (token issuers are required to deposit a certain amount of funds in advance in the smart contract), and a social-based value distribution system (introducing a referral commission system, redistributing fees within the ecosystem, where most fees are used for community referrals and trading rewards, some are returned to the token issuers, and the rest is invested in the platform's long-term development).
