Cult DAO seeks to fast forward the collapse of the global economic order and to fund the revolutionaries seeking the same goal.
The Guardians of Cult DAO
The top 50 CULT stakers are The Guardians. These Guardians can submit proposals to the DAO, but they cannot influence the vote. The votes can be made by all CULT stakers who are not Guardians. Votes pass based on token share Yes vs No. These proposals put forward should be requests for investment from protocols which match all or most of the below criteria：
- Fight Against Centralisation
- Further the Cause of Decentralisation
- Directly Benefit a Noble Cause
The DAO can then vote on whether they believe the investment should be granted. There is also a burning mechanism in place that works as an incentive. For every 15.5 ETH of CULT raised, 2.5 ETH is burned, and 13 ETH goes to the investee protocol or cause.
Cult DAO Token
CULT is CULT.DAO’s tradable and liquid token. Making transactions with CULT will help the protocol by gradually filling the DAO treasury, which will support investments in decentralized technology. It is accomplished with a 0.4 percent collection on all CULT transactions that travel directly to the DAO.
What is dCULT?
dCULT is CULT’s proof-of-staking token. When one stakes their CULT into the DAO, they are granted dCULT, which may be exchanged for the amount of CULT staked originally. In addition, they receive any incentives paid to the DAO while they hold dCULT.
dCULT is non-transferable and can only be earned by staking CULT. By adding the dCULT contract address to the wallet, tokenholders can view their balance.
What makes Cult DAO Unique?
The platform is not under any control, without any human intervention, Cult cannot be changed. We cannot access liquidity and cannot upgrade or edit smart contracts or tokens. Cult is different because it cannot be blocked, not by guardians, developers, governments, regulators, or anyone. They can destroy servers, but the code is still there, the investment in decentralized technology is still there. Decentralized technology still exists.
CULT Staking
CULT staking is the basis of the whole protocol. The top stakers, dCULT tokenholders, are the Guardians. Meanwhile, the user will receive dCULT tokens as security for their deposit once staked. The user can then redeem at any moment at the initial amount placed.
When a project proposal is accepted, the agreed-upon amount granted to the DAO is split 50/50. Half of it is burned, while the other half is transmitted to the DAO and allocated among CULT stakeholders.
To vote or get rewards, the user must have staked tokens. However, to use the CULT network, there is no need to deposit funds for staking. Each transaction advances the project, and each token burn reduces circulation.
Join MEXC and Start Trading Today!
