CultDAO or CULT (CULT/USDT – Trade it here) is founded by Mr. O’Modulus, serving the function of decentralized venture capitalism. The purpose of it is to empower and fund those building and contributing towards the decentralized future. Basic information for their token is available on the MEXC Digital asset introduction page.
CultDAO Core Features and Ecosystem
CULT claims that they serve 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.”, as in the whitepaper.
The ultimate goal of CULT is to realize the future of decentralization of the financial system by funding and supporting organizations and projects that work towards the goal. As previously mentioned, CULT serves as a decentralized venture capital and the fund is from the token treasury, filling up with the 0.4% transaction fees. Further, CultDao proposed a new project named Revolt 2 Earn (RVLT) to specifically support individuals that contribute to the future of decentralization.
CULT Tokenomics
CULT is the tradable and liquid token of CultDAO, transacting it will contribute to the protocol by filling the DAO treasury slowly, to fund investments into decentralized technologies. Users can stake it or participate in community governance.
It follows the mechanism as follows: users interact & trade with the token as normal, and 0.4% tax is taken (in the CULT token) on each transaction. This means that almost all transactions should clear on standard DEX slippage settings. This tax is then collected in CultDAO’s treasury and builds up to a USD value. It will match the market value of 15.5 ETH.CULT can be staked for dCULT. The top 50 dCULT holders are The Guardians. All holders below the top 50 have voting rights and these are The Many. Additionally, The Guardians are the only users who can put proposals before the DAO, but they cannot vote on them.
- If a proposal has been approved, and the 15.5 CULT ETH value is hit, it will automatically send 13 ETH to the proposal wallet address provided, and 2.5 ETH to a burn wallet.
- If a proposal is not approved, the CULT will continue to build up past the 15.5 ETH level but will auto-send once a proposal is approved.
Recent Price & Performance of CultDAO (CULT)
Currently, their market price is $0.07454 per unit. It has a market cap of $75,983,753 and a fully diluted market cap of $85,394,404. It also has a 24-hour trading volume of $594,132. You can check the live price of their token right here!
How to buy CultDAO (CULT)
You can buy CultDAO (CULT) on MEXC by following the steps:
- Log in to your MEXC account and click [Trade]. Click on [Spot].
- Search “CULT” using the search bar to see the available trading pairs. Take CULT/USDT as an example.
- Scroll down and go to the [Spot] box. Enter the amount of CULT you want to buy. You can choose from opening a Limit order, a Market order, or a Stop-limit order. Take Market order as an example. Click [Buy CULT] to confirm your order. You will find the purchased CULT in your Spot Wallet.
You can find a detailed guide on how to buy CULT token here.
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