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May 30, 2025 – Cooking.City, a pioneering token issuance platform within the Solana ecosystem, today announced the successful completion of a $7 million financing round. This significant investment, with participation from leading investors including Jump, CMT Digital, Mirana, Bitscale Capital, and EVG, will empower Cooking.City to redefine fair launch mechanisms and foster a more transparent, sustainable, and community-centric model for on-chain project issuance.
Cooking.City is committed to reshaping the token issuance landscape by re-embracing the core ethos of Web3: decentralization, transparency, and community participation. The platform introduces a novel approach designed to enhance opportunities for new projects and incentivize broad community engagement.
Pioneering a New Model for Token Issuance
The new model proposed by Cooking.City introduces several key innovations:
- Value Redistribution: The platform is designed to redistribute the majority of its fees back to developers and users, creating a more equitable ecosystem.
- "Confidence Pool" Mechanism: To ensure accountability and build trust, token issuers are required to deposit a certain amount of funds in advance into a smart contract. This "confidence pool" mechanism aims to enhance transparency and mitigate risks for participants.
- Social-Based Value Distribution System: Cooking.City integrates a referral commission system and redistributes fees within the ecosystem. The majority of these fees are allocated for community referrals and trading rewards, with a portion returned to token issuers, and the remainder reinvested into the platform's long-term development. This system encourages active community participation and fosters a vibrant, self-sustaining environment.
"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," stated ChainCatcher.
Integrating Blockchain into Gaming: The $COOKCITY Token
Beyond its role as a token issuance platform, Cooking.City is also the name of a popular cooking game developed by MagicSeven Co., Ltd. This game offers players the opportunity to cook and serve a variety of global cuisines across numerous themed restaurants, featuring regular events like Dinner Peak and World Chef Leaderboard.
A key aspect of Cooking.City's initiative is the introduction of its cryptocurrency token, $COOKCITY, built on the Solana blockchain. This integration aims to seamlessly weave blockchain technology into the game's ecosystem, providing players with new ways to engage and potentially earn within the gaming environment. This fusion of gaming and blockchain underscores Cooking.City's broader vision for interactive and rewarding digital experiences.
Impact on the Solana Ecosystem and Web3
The successful funding round and Cooking.City's innovative approach are poised to significantly impact the Solana ecosystem. By promoting fair launches and community-driven incentives, Cooking.City aims to cultivate a healthier and more robust environment for new projects to thrive. This commitment to transparency and sustainability aligns with the foundational principles of Web3, promising to set a new standard for token issuance.
"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," reported Tin Tuc Bitcoin.
Cooking.City's focus on community-powered growth and equitable distribution mechanisms positions it as a key player in advancing the decentralized future of finance and entertainment.
About Cooking.City
Cooking.City is a Solana ecosystem token issuance platform dedicated to establishing a transparent, sustainable, and community-centric model for on-chain project launches. Through innovative mechanisms like its "confidence pool" and social-based value distribution system, Cooking.City aims to redefine fair launches and foster broad community participation. The platform is also associated with the popular cooking game, Cooking City, integrating blockchain technology through its $COOKCITY token.
Compiled by CMO Intern team
