Cooking.City, a new Solana launchpad backed by investors like Jump and CMT Digital, has officially launched. It’s designed to be different from other launchpads, focusing on community and fair value distribution.
Rewarding Users: The Cooking Points System
Cooking.City isn’t just about launching tokens; it’s about rewarding its users. They’ve introduced a points system, Cooking Points, that lets you earn rewards in several ways:
- Trading: The more you trade, the more points you get. Trading certain high-value, actively traded tokens (“Michelin Tokens”) earns you bonus points.
- Referrals:
Refer friends, and earn points based on their trading activity – up to a 10x multiplier! - Social Engagement:
Like, comment, and share their tweets using #CookingCity to earn extra points.
Your points accumulate daily and are retroactively calculated from launch. These points will be crucial for future airdrops. Top traders and referrers will receive even bigger rewards.
Ensuring Quality Launches: The Conviction Pool
Cooking.City also features a unique “Conviction Pool” designed to weed out low-effort projects and protect traders. Here’s how it works:
- Developer Commitment: Developers can deposit SOL into the pool, setting a price that shows their confidence in their token.
- Price Protection: If the token’s price falls below that set level after launch, users can swap their tokens for SOL from the pool – acting as a safety net. If the price stays above the level, the developer gets their SOL back.
This system encourages developers to only launch high-quality projects and protects users from potentially failing ones.
The Bigger Picture: Building an On-Chain Community
Cooking.City aims to be more than just a launchpad. They’re building a whole on-chain ecosystem, connecting builders and investors in a new way. They plan to expand their services and mechanisms to offer even more innovative ways to launch and invest in crypto projects.
About Cooking.City
Cooking.City is a platform designed to make fair token launches more rewarding for everyone involved. They believe in fostering a community where builders and investors can thrive together. You can find them on their website, X (formerly Twitter), and Gitbook.