The Solana ecosystem token issuance platform Cooking.City has completed a $7 million financing round, with participation from Jump and others

ChainCatcher news, the Solana ecosystem token issuance platform Cooking.City has completed a $7 million financing round, with participation from Jump, CMT Digital, Mirana, Bitscale Capital, and EVG. Cooking.City is committed to reshaping the token issuance mechanism, proposing a new on-chain issuance model that is sustainable, incentive-driven, and community-centered.

The new model proposed by Cooking.City includes: value redistribution (redistributing most platform fees back to developers and users), a "confidence pool" mechanism (token issuers must 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, with most fees used for community referrals and trading rewards, part returned to the token issuers, and the remainder invested in the platform's long-term development).