Anonymous Cat, or ZCAT, has distributed about 2,320 ZEC worth roughly $2.8 million through more than 470,000 payouts to wallets holding at least $20 of the Solana-based cat memecoin. The project takes a 3% tax on every ZCAT transfer, converts most of the proceeds into Zcash, and pays the rewards to eligible holders. ZCAT trades against ZEC on StonkFun, a Solana launchpad that supports trading pairs beyond SOL and stablecoins. ZCAT traded around 13 cents Monday, giving it a market value of about $124 million and 24-hour volume of roughly $22 million, after briefly reaching nearly 19 cents over the weekend before a sharp early-Monday selloff. The reward system has benefited from Zcash's surge of more than 2,300% over the past year and its move above $1,200 late Sunday, driven by renewed interest in privacy-focused cryptocurrencies. Zcash allows users to conceal a transaction's sender, receiver and amount. Investors can also access the sector through Grayscale's spot Zcash ETF, which was listed on NYSE Arca in late August. The story reflects how memecoins can quickly attach themselves to emerging crypto themes, as seen with Cash Cat after Robinhood Chain launched in July. But ZCAT's payouts depend on trading activity rather than business income, leaving rewards vulnerable to a substantial decline if market activity dries up.