Cult DAO

What is Cult DAO?

CULT, the tradable and liquid token of Cult DAO, stands as a beacon for those challenging societal norms and striving for a decentralized future. The project's core purpose is to empower and fund visionaries who possess groundbreaking ideas capable of reshaping the world. In a society resistant to change, CULT emerges as a financial catalyst, fueling the fight against centralization.

CULT DAO's ethos centers around fighting against centralization. By providing funding to those ready to break free from traditional norms, the project seeks to fast-forward the collapse of the global economic order. The top 50 CULT stakers, known as The Guardians, play a crucial role. While they can submit proposals to the DAO, the actual voting power lies with all CULT stakers, excluding The Guardians. The voting process operates based on token share, with proposals focusing on criteria like fighting centralization, advancing decentralization causes, and directly benefiting noble causes.

Full Distribution

Upon vesting of investee protocol tokens, the possession of dCULT allows users to claim rewards directed to the DAO. The DAO's voting mechanism involves evaluating proposals for investments that align with the core principles of decentralization and noble causes. Furthermore, a burning mechanism is in place as an incentive, where a portion of CULT raised is burned, contributing to the sustainability of the ecosystem.

Staking CULT: The Foundation of the Protocol

Staking CULT serves as the foundation of the entire protocol. The Guardians, the top stakers, hold the privilege of submitting proposals, driving engagement within the community. The success of proposals triggers the redistribution of rewards to stakers, creating a direct correlation between community engagement and overall returns.

Unlike traditional staking pools, CULT adopts a unique approach to reward distribution. Instead of emitting CULT, rewards are generated through successful investments into the DAO. Stakers claim their share relative to their pool percentage, with rewards paid out in CULT even though staked CULT is converted to dCULT during the staking period.

Submitting a Proposal

To submit proposals to the DAO, individuals must enlist the help of a Guardian or be one of the top 50 dCULT holders. Proposals must align with at least two of the criteria focusing on decentralization, centralization resistance, and contribution to noble causes. The Guardians facilitate the proposal process, while the broader community, referred to as The Many, holds the voting power.

RVLT Token

RVLT, the second tradable token, contributes to the DAO treasury for decentralized technology investments. Staking RVLT grants uRVLT, the proof-of-stake token within the RVLT ecosystem. Stakers participate in Acts of Revolt proposals, earning rewards and the chance to become a CULTmander, further enhancing engagement within the decentralized ecosystem.

Project Development

In the aftermath of a substantial RVLT theft from the staking contract, the affected party is resolute in restoring the losses suffered by stakeholders. The perpetrator successfully seized control of both the staking contract and the treasury, rendering the current RVLT token unusable. The compromised state allows the attacker access to 0.4% of every buy and sell transaction.

To rectify the situation, a complete overhaul of the RVLT system is imperative, necessitating the deployment of a new token. All RVLT and uRVLT holders will receive a 1:1 token swap during this transition. To facilitate the migration process, a dedicated portal will be available at https://revolt.cultdao.io. Stakeholders are cautioned against falling prey to fake profiles on social media directing them to malicious sites. The migration is anticipated to go live within the next two weeks, although a specific date is yet to be announced.

Cult DAO Price Analysis

As of December 22 2024 Cult DAO has a marketcap of $9M. This is {{percentagefromath}} from its all time high of $0.00007459. In terms of its tokenomics, there's a total supply of 5T with 82% currently outstanding. Keep in mind Cult DAO has a fully diluted value of $11M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.

Summarized in part by ChatGPT 4 and Claude