TechFlow, May 30 — Cooking.City, a token issuance platform within the Solana ecosystem, has raised $7 million in funding, with participation from Jump, CMT Digital, Mirana, Bitscale Capital, and EVG. Cooking.City aims to reshape token issuance mechanisms by introducing a new on-chain model that emphasizes sustainability, incentive-based rewards, and community-centric principles.
The new model proposed by Cooking.City includes: value redistribution (reallocating the majority of platform fees back to developers and users), the "confidence pool" mechanism (requiring token issuers to pre-deposit a certain amount of funds into a smart contract), and a social-based value distribution system (introducing a referral commission structure that redistributes fees within the ecosystem—most fees go toward community referrals and trading rewards, some are returned to token issuers, and the remainder is invested in the platform’s long-term development).
