, bringing what it bills as, the world's first completely decentralized token. Cult DAO serves to fund "those contributing or building towards a decentralized future." The exchanging and transacting of CULT will continuously replenish the treasury due to a small 0.4% collected on every transaction.
The project is the first entirely decentralized financing mechanism to sponsor revolutionaries and those eager to break society's ties.
Submitting Proposals for Project Funding
For people to participate, they can submit proposals for financing by Cult DAO. Only the 50 Guardians, the top 50 CULT stakers, can submit suggestions for funding from the protocol, and monitor the recommendations made. Note that Guardians cannot vote.
When making a proposal, all suggestions must satisfy three criteria. First, they must fight against centralization. They should also advance the cause of decentralization, and finally, directly benefit a noble cause. Proposals can come from anyone as long as they follow these rules and a Guardian is the one to put them forward.
Cult DAO and its fundraising method are entirely decentralized. Cult DAO will exist as long as users transact with the CULT token, custodians propose proposals and validators vote. Revolutionaries, fresh ideas, and decentralization will all be funded through the initiative.
CULT 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 stake token." When users stake their CULT into the DAO, they are granted dCULT, which may be exchanged for the amount of CULT they staked originally.
dCULT is non-transferable and can only be earned by staking CULT. By adding the dCULT contract address to the user's wallet, they can view their balance.
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