What is Cult DAO (CULT)?
CULT is Cult DAO's native token. Cult DAO is a fully decentralized fundraising organization that allows everyone to propose new ideas. The DAO functions autonomously and with the assistance of the 50 Guardians who hold the most CULT coins. The organization also has a treasury structure that uses network exchanges to raise revenue on a regular basis.
Users can trade at the current CULT price to help the protocol by gradually replenishing the DAO treasury, which supports investments in blockchain systems. This is accomplished by collecting 0.4% on all CULT trades that are moved directly to the DAO.
Though apart from CULT tokens, Cult DAO has another token – Revolt (RVLT). It's the first token of CultDAO and it is based on the Polygon network. RVLT tokens can be staked to receive uRVLT tokens. Every 5 days, 490 uRVLT holders and 10 consistent NFT owners are randomly chosen as CULTmanders. Their main task is approving or denying submissions of users in which they suggest how much they should be rewarded based on their contribution to the project.
It's also worth noting that the whole organization and its website follow the theme of a medieval rebellious revolution. They claim that they are rebelling against centralization.
You can view the latest Cult DAO price changes on the above charts.
Use Cases of CULT Tokens
In essence, CULT is a tradable liquid token. Due to the 4% that goes to the DAO Treasury from every trade, users can contribute to the Treasury simply by transacting CULT tokens.
Moreover, when CULT holders stake their tokens, they receive dCULT, which is simply a staked version of CULT. dCULT allows holders to collect any rewards from the DAO during the time their CULT tokens vest. dCULT can be converted back to CULT tokens at any moment.
Besides that, CULT tokens are used for granting governance rights, as well as Guardian rights. For starters, CULT holders can become Guardians by moving to the top 50 list of CULT holders based on the amount they hold. Guardians are the ones who put forward proposals. However, they cannot vote on these proposals themselves. Instead, all non-Guardian CULT holders are the ones who can vote.
Who Founded Cult DAO?
Having decided to remain anonymous, the founder of the CULT DAO crypto is known by an alias Mr. O’Modulus. The founder communicates their analysis through their Twitter account.
Tokenomics of Cult DAO
The max supply of CULT coins is 6,666,666,666,666. Guardians who submit protocols for investment using their investee wallet addresses get 13 ETH rewarded when any of their proposed protocols raise 15.5 ETH. Besides that, 2,5% worth of CULT tokens is sent to a burn wallet. The burning mechanism employed by the platform helps to maintain the CULT price.
In addition to the trading volume, total supply, circulation, and other parameters, you can see the current Cult DAO price above.
