Pump.fun is set to launch its token with a valuation of 4 billion, while many other Solana Launchpads have already issued platform tokens at the time of product launch. The Solana ecosystem is never short of new opportunities. The emerging Launchpad platform Cooking.City recently announced the launch of its 'Cooking Points' rewards system and the core mechanism of the Conviction Pool, aiming to attract traders and developers through innovative incentive mechanisms and a fair token launch model.
Against the backdrop of intensified competition in the Solana chain Launchpad track, Cooking.City has gained investment from top institutions such as Jump and CMT Digital, quickly becoming the focus of community attention with its transparent points rules and the Conviction Pool mechanism during token issuance.
This article will help you understand Cooking.City from three aspects: the points system, platform mechanisms, and market positioning.
Cooking Points System: Multi-dimensional incentives for user participation.
With the gradual rollout of the full features of the platform, the Cooking.City points system is officially open to users, creating an active community ecosystem by rewarding various user behaviors.
Once users reach a trading volume of 1 SOL on the platform, they can accumulate Cooking Points in the following ways:
Trading Activity: Engaging in token buying, selling, or holding on the Cooking.City platform can earn trading points. By participating in the market through frequent trading, users will receive higher platform points rewards.
Trading Michelin Tokens: Based on market performance and potential, approximately 10 of the highest quality tokens on the platform will be generated in the future, named 'Michelin Tokens'. Trading these top-performing tokens will yield a points coefficient bonus, incentivizing users to pay attention to high-potential quality projects.
Invitation Mechanism: Users can obtain a personal invitation code and link on the Cooking.City website. After inviting new users to join, the trading volume of the referred individuals will bring points rewards to the inviter. The larger the trading volume of the referred individuals, the inviter will receive a multiplier of 1-10 times in points.
Community Tasks: Completing tasks issued by the platform, such as liking, commenting, and sharing with the official account on X, or interacting with the #CookingCity tag or participating in community activities, can earn additional points and enhance personal account exposure.
Users' personal points data will be displayed through the user panel and updated once a day. Since the platform's launch, users' past transaction data can be counted towards points, lowering the entry threshold for early participants. It is reported that points are linked to future airdrops, becoming the core motivation for users to participate in the platform.
Conviction Pool: An innovative token issuance mechanism that enhances trust.
The Conviction Pool is the core mechanism that distinguishes Cooking.City from other Launchpads, enhancing platform transparency through developers' commitments, making it easier for traders to access quality projects. Its operation includes:
Developer Lock-in: Developers can choose to lock a certain amount of SOL into the Conviction Pool when creating tokens, setting a trigger price that demonstrates their confidence and commitment to the market performance of the token project.
Price Protection: If a token successfully graduates (i.e., reaches a certain market value), the Conviction Pool will be activated. If the token price falls below the set level, users can exchange their purchased tokens for SOL from the Conviction Pool, similar to an 'insurance mechanism' that sets a benchmark for token quality in the market. If the token price does not fall below the set level, developers can reclaim the SOL from the Conviction Pool.
This innovative 'Conviction Pool' mechanism effectively balances the interests of developers and traders, helping to attract truly high-quality projects in the market and enhancing traders' confidence, achieving a positive feedback loop.
Leading the revival of the Solana chain.
Cooking.City is positioned as the next-generation fair launch platform in the Solana ecosystem. Compared to Pump.fun, it emphasizes 'value redistribution' by giving back a high share of platform revenue to the community, reinvesting platform income into the community and the Solana ecosystem.
Against the backdrop of Pump.fun's planned token issuance, Cooking.City, as the only Launchpad project yet to issue tokens, will attract early users through future airdrop expectations, reshaping the issuance and trading market on the Solana chain with the transparency of its points system and the protective mechanism of the Conviction Pool.
On the launch day, Cooking.City introduced the user points panel and rules description, and the first batch of participants will receive high early bird commission rewards. Developers can also gain additional points rewards and platform support opportunities by launching Michelin Tokens.
Summary
Cooking.City has built a fair and transparent token launch ecosystem through its points system and Conviction Pool. The points system incentivizes users to trade, recommend, and participate in community activities, while the Conviction Pool enhances trust through price protection and developer commitment.
In the current context of intensified competition in the Solana Launchpad track, Cooking City provides traders and developers with a new opportunity worth paying attention to through its innovative mechanisms and airdrop expectations. In the future, the Cooking.City platform hopes to continuously diversify asset issuance and trading methods in the Solana ecosystem through its evolving infrastructure and mechanisms.
