What is Cult DAO?
CULT is the liquid and tradable token of the CULT DAO, and transacting with CULT helps to fund investments into decentralized technologies. This is achieved through a 0.4% collection on all CULT transactions, which goes into the DAO treasury to fund investments in various decentralized projects.
When CULT is staked into the CULT DAO, it becomes dCULT. dCULT is essentially a "proof of stake" token for CULT. When you stake your CULT into the DAO, you receive dCULT in return. This can be swapped back into the original amount of CULT at any time, along with any rewards that were earned by the DAO during the time period that you owned dCULT.
The CULT DAO and its funding process is completely decentralized, which means that it cannot be stopped as long as there are people transacting with CULT, Guardians putting forward proposals, and users voting. The CULT DAO will continue to fund revolutionaries, decentralization advocates, and those willing to break free from the chains of society.
Proposals can only be put forward by Guardians, who are the top 50 holders of CULT. Guardians cannot vote and therefore cannot be wholly corrupted in their decisions. Proposals must conform to all or the majority of the following three criteria: fighting against centralization, furthering the cause of decentralization, and directly benefiting a noble cause.
These proposals can come from anywhere, including venture capitalists, community members, politicians, anarchists, socialists, and individuals on the left or right wing, as long as they conform to the guidance above and are submitted by a Guardian. Proposals must include the following information: the total supply of the investee protocol token, the percentage of the total supply being offered in return for a 13 ETH investment, the tokenomics, an audit of the token and any contracts if built, and the burn and distribution plan.
The burn and distribution plan refers to the vesting schedule for the investee protocol's token. For example, let's say that the ABC DAO promises 1.2% of its $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. The 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 accelerate the collapse of the old financial system and to end the tyranny of sovereign nations and central banks. The current financial system is designed to keep the people poor, and a society built on debt requires inflation to function. Inflation ultimately serves to rob the poor and keep them from catching up with the wealthy ruling class.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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