ZCAT is up 76.33% in 24 hours, with a market cap of $68.17 million. The price gain alone isn't unusual; what I'm interested in is where its roughly 3% transaction tax goes.
According to the project description, the tax is used to buy bridged Zcash (ZEC) on Solana and then airdrop it to holders. If this is actually happening, every ZCAT trade would convert a small portion of its value into bridged ZEC. These on-chain flows are transparent: the addresses for the revenue, swaps, and distributions can each be checked.
So far, the only public information is the price gain and market cap; the airdrop frequency and swap ratio haven't been disclosed. Going forward, I'll watch just two things: whether the tax collection address consistently swaps SOL for bridged ZEC, and whether the airdrop address distributes it regularly. If those two don't line up, this mechanism is just words in the project description.
According to the project description, the tax is used to buy bridged Zcash (ZEC) on Solana and then airdrop it to holders. If this is actually happening, every ZCAT trade would convert a small portion of its value into bridged ZEC. These on-chain flows are transparent: the addresses for the revenue, swaps, and distributions can each be checked.
So far, the only public information is the price gain and market cap; the airdrop frequency and swap ratio haven't been disclosed. Going forward, I'll watch just two things: whether the tax collection address consistently swaps SOL for bridged ZEC, and whether the airdrop address distributes it regularly. If those two don't line up, this mechanism is just words in the project description.