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Cult DAO

$CULT
Today
0
Total
0
ETH Address:
0xf0f9d895aca5c8678f706fb8216fa22957685a13
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Coin Info

Market Cap:
$8,856,299
Launched:
25/01/2022
Network:
ETH

Coin Safety

Project Brief

CULT is the tradable and liquid token of CULT DAO, transacting CULT will
contribute to the protocol by filling the DAO treasury slowly, to fund
investments into decentralised technologies. This is achieved due to a 0.4%
collection on all CULT transactions.

CULT, once staked into the Cult DAO, becomes dCULT. dCULT is just the β€œproof of stake token” for CULT. When you stake your CULT into the DAO, you are given dCULT, this can be swapped back at any time into the amount of CULT you staked originally, plus any rewards that were given to the DAO in the time period you owned dCULT.

Cult DAO and its funding process is completely decentralized. It cannot be stopped. As long as there are people transacting with CULT, Guardians putting forward proposals, and users voting, Cult DAO will continue to fund revolutionaries, decentralization advocates and those willing to break the chains of society.

A proposal can only be put forward by the Guardians. These are the top 50 holders. Guardians cannot vote and so cannot be wholly corrupted in their decisions. These proposals must conform to all or the majority of these three criteria:

● Fight Against Centralisation,
● Further the Cause of Decentralisation
● Directly Benefit a Noble Cause.

These proposals can be from anywhere, VCs, community members,
politicians, anarchists, socialists, the left or right wing, as long as they conform to
the guidance above and it is a Guardian who submits it, any proposal can be
voted on by the Many. The proposals put forward must contain;

1) The total supply of the investee protocol token
2) the percentage of the total supply being offered in return for 13 ETH investment
3) the tokenomics
4) the audit of the token and any contracts if built
5) the burn and distribution plan.

The burn and distribution plan is the vesting schedule for the investee
protocols token. For this example let us use a fake protocol ABC DAO. The
vesting schedule can be daily, weekly, fortnightly or monthly, but cannot be
vested over longer than 18 months at the very maximum.

Lets say ABC DAO promises 1.2% of it’s $ABC token, vesting once a month for
12 months. On the repayment date, rather than sending the token of the
investee protocol, like a normal VC funded protocol would, the investee
company instead swaps 0.1% of its supply (1.2% over 12 months) of $ABC for
$CULT. ABC DAO then sends half of the cult to a burn wallet, and the other
half to the DAO, which is paid out to dCULT holders.

CULT serves to fast forward the collapse of the old financial system, to end the
tyranny of sovereign nations and central banks. The current financial system
serves to keep the people poor, a society built on debt needs inflation to function,
and inflation serves to rob the poor and allow them to never catch up with their
overlords in the ruling class.

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