Cult DAO, which is pleased to announce their launch, has published The Cult Manifesto. It aims to be the first fully decentralized token. The theory behind CULT is that like can’t be stopped once it starts. Cult DAO serves to fund “those contributing or building towards a decentralized future”. Because CULT is transacted and exchanged, it will continue to replenish the Treasury. A small 0.4% fee on each transaction allows for continuous replenishment. Any protocol that wants to change the world will have a source of funding as long as they submit proposals. No matter how far-fetched that might be.

Cult DAO’s goal is to accelerate the downfall of the global banking system and the current world order. The project is the first entirely decentralized financing mechanism to sponsor revolutionaries and those eager to break society’s ties.

Fair Distribution of Power

Consent of the citizens gives governments their legal powers. CULT aims end to the tyranny and corruption of central banks and sovereign nations by accelerating the downfall of the existing financial system.

Cult Manifesto is a fascinating, terrifying and gripping read. Mr. O’Modulus, the anonymous yet confirmed by KYC as a famous existing crypto protocol founder, stipulates that today’s monetary system keeps people in poverty as debt-based societies need inflation to operate, and inflation serves to rob the poor and keeps them from ever catching up. The project aims at creating an uncontrolled environment that awakens all the people of our planet. A fair distribution of energy is possible if everyone wants to be involved.

Sending proposals for project funding

Cult DAO will fund participants by allowing them to submit funding proposals. The protocol’s 50 Guardians (the top 50 CULT stakers) can make funding suggestions and oversee the implementation of the protocols. It is important to note that Guardians cannot vote, and therefore cannot corrupt their judgments.

Three criteria must be met before a suggestion can be made. The first is to fight centralization. They also need to promote the cause decentralization. Finally, they should directly benefit a noble cause. Anyone can submit proposals as long as the rules are followed and they have to be submitted by a Guardian.

Cult DAO’s fundraising process and Cult DAO are completely decentralized. Cult Dao will continue to exist so long as its users use the CULT token. Validators can vote and custodians may propose new proposals. The initiative will fund revolutionaries, new ideas and decentralization.

CULT Token

CULT is CULT.DAO’s tradable and liquid token. Transacting with CULT helps the protocol fill gradually the DAO treasury. This will allow for investments in decentralized technologies. The DAO receives a 0.4% collection for all transactions with CULT.

What exactly is dCULT?

dCULT is CULT’s “proof of stake token.” When you stake your CULT into the DAO, you are granted dCULT, which may be exchanged for the amount of CULT you staked originally. You will also receive any incentive payments to the DAO if you had dCULT.

You cannot transfer dCULT and you can only earn it by stake CULT. You can see your balance by adding the dCULT address to your wallet.

Staking CULT

The foundation of all protocol is to stake CULT. Guardians, the Guardians, are the highest stakers. Once staked, users will be issued dCULT tokens to secure their deposits. At any time, the user may redeem the tokens against the initial deposit.

The DAO splits 50/50 the amount of project proposals accepted after they are approved. The DAO burns half of the money, the remainder is transferred to the DAO and divided among the stakeholders in CULT.

The staked tokens must be purchased in order to vote and receive rewards. To use the CULT network you don’t need to have funds to stake. Every transaction helps the project and every token burned reduces its circulation.

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