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Cult Dao Coin – Everything You Need To Know

6 Mins read

Welcome to Bulliscoming Crypto & Finance Media, Cult Dao is a Cult with a group of people whose aim is to empower and fund the building and contributions towards the decentralized Future. They fight against centralization and want to revolutionize the decentralized future.

Meanwhile, the investee token is converted into CULT as it creates additional transactions, as well as additional buying pressure in the market. The rate of disbursement is offered by the investee protocol, a proposal can be brought about again once rejected and so if the cause of the rejection is deemed to be due to an inadequate disbursement offer, the investee protocol can fix and make these amends.

Thus, this article is all about everything you need to know about the Cult Dao. meanwhile, knowing what Dao is, is very crucial. So let’s dive into what dao is before we fall to other details of Cult Dao.

What Is Dao?

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A DAO is a Decentralised Autonomous Organization. The definition of which is argued almost as much, and by almost as many, who squabble between themselves in left-wing politics.

A DAO in its purest form is what Cult Dao has created, it will function forevermore with no human interference beyond what has been coded for it to be influenced by, which is votes from its holders. Nobody can dismantle the code and nobody can stop it from collecting funds and sending them to those furthering our cause, as long as the token is traded & as long as people are passing proposals, CULT will live on.

What Is Cult?

CULT is the tradable and liquid token of CULT DAO, transacting CULT will endorse the protocol by filling the DAO treasury slowly, to fund investments into decentralized 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 “proof 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 quantity of CULT you staked initially, plus any compensations that were given to the DAO in the period you owned dCULT.

Cult DAO and its funding process are completely decentralized. It cannot be stopped. As long as people are 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;

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

The audit of the token and any contracts if built

The burn and distribution plan.

The burn and ratio plan is the vesting roster 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.

Let’s say 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. ABC DAO then sends half of the cult to a burning 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 and 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.

Also Read: Fantom (FTM) Coin – What You Don’t Know About Fantom Coin

What Is The Idea Behind Cult, And How Did It Begins?

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CULT serves to fast forward the collapse of the old financial system and 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.

CULT began when Vasco de Gama sailed around the Cape of Good Hope and discovered the route to India. CULT began when in 1526 the first transatlantic slave voyage anchored in Brazil. CULT began and is born of oppression, of meaningless life, the slavery and chains which bind you and every single one of us, if you read this and believe that you are free then you are more chained than us, true freedom comes with the realization and acceptance that you exist as a function and cog in a central banks ideal economic function.

A central bank’s primary focus is maximum employment, yet we are automating jobs so fast that we are creating bullshit jobs just to keep us enslaved, Barack Obama’s explicit justification in 2009 for sticking with the US private health insurance system, was otherwise, millions of form-filling jobs would be lost?

Automation of one’s job should mean freedom. Freedom however cannot exist under the current economic and financial system. I repeat true freedom comes with the realization and acceptance that you exist as a function and cog in a central bank’s ideal economic function.

The system is designed to keep us enslaved, we can’t break out and live in the woods, well, not all of us, our body remains chained but our heart is now free, so USE CULT, every transaction, deposit, and movement of the token allows you to contribute & fast forward economic & societal change. You can fight from within until you get out

Who Are The Guardians, What Is Their Purpose?

The Guardians are the top 50 token holders, they are tasked with safeguarding which proposals are sent to The Many to be voted upon. Due to their larger weighting and token share, they are not allowed to influence the proposals they bring before the Many, they may champion the proposal as much as they please but only their voice may influence others, not their wealth.

How do Cult Get Revenue and How Do Their Staking Work?

Users interact & trade with the token as normal, 0.4% tax is taken (in the CULT token) on each transaction, this means almost all transactions should clear on standard DEX slippage settings

  • This tax is collected in Cult DAOs treasury and builds up to a USD value which matches the market value of 15.5 Ethereum.
  • CULT can be staked for dCULT. The top 50 dCULT holders are The Guardians. All holders below The Guardians have voting rights and these are The Many
  • These proposals can be from anywhere, VCs, community members, politicians, anarchists, socialists, the 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.
  • A proposal must contain; the total supply of the investee protocol token, the percentage of the total supply being offered in return for 13 ETH investment, the tokenomics, the audit of the token and any contracts if built, the burn and distribution plan
  • The burn and distribution plan*1 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.
  • 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 burning 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 eventually

Cult Dao NFTs

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The Cult DAO launching a collectible DAO through the sale of NFT-collection of 3D avatars. The membership card has never been so cool!

  • Collectible DAOs allow collectors to do what they can’t do alone. They allow them to buy, own, and sell decisions through secure decentralized protocols.
  • Collection DAOs can find new talents in cryptocurrency art, invest in them early and invest in other collection DAOs.

Conclusions

The contracts and tokens Of Cult are & is fully audited, liquidity is locked, the keys burnt & the contracts non-upgradeable meanwhile some investors are currently investing in this project because they believe the term on their aim of Fighting against the Centralization and giving power back to the people.

Meanwhile, this article is not of any investment advice for Bull term is not a financial advisor.

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About author
Justice Osamuyimen is a blockchain technologist, a crypto content creative writer who aspires to write educative/ information content on blockchain technology & cryptocurrency ecosystem. He's also a trader and also an investor in the crypto currency field, he's open for multitasking and love his career growth.
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