Solana Ecosystem Gains Momentum as Cooking.City Secures $7 Million Financing for Innovative Token Issuance Model

COINOTAG News reported on May 30th that Cooking.City, a notable player in the Solana ecosystem, has successfully raised $7 million in a financing round spearheaded by Jump Crypto. Other participants included CMT Digital, Mirana, Bitscale Capital, and EVG. This platform aims to revolutionize the token issuance landscape by introducing an innovative and sustainable issuance model that prioritizes community engagement and incentives.

The newly proposed structure features several key elements: a Value Redistribution system that reallocates a significant portion of platform fees back to developers and users, and a “Confidence Pool” mechanism requiring token issuers to pre-fund their smart contracts. Additionally, Cooking.City is implementing a socially-driven value distribution framework that encourages community participation through referral commissions and redistributes fees for transaction rewards. This holistic approach not only strengthens community ties but also supports long-term platform development.