What is $CULT? - Deep Dive

$CULT is the native and tradable token for the CULT DAO - a DAO that services “those contributing or building toward a decentralized future." Simply put, CULT DAO is a decentralized capital trust that fasts forward the collapse of the old financial system and ends the tyranny of sovereign nations and central banks.

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CULT DAO believes that the current financial system serves to keep the people poor, a society built on debt and needs inflation to function, which serves to rob the poor and allow them to never catch up with their overlords in the ruling class.

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This article will dive deeper into $CULT and the CULT ecosystem and help you decide if this project is worth getting involved in.

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How Does $CULT Work?

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$CULT considers itself a public good that powers the CULT DAO ecosystem, similar to how Ether does so for the Ethereum ecosystem. $CULT can be used by anybody to fund, build & scale anything that contributes to decentralization in a transparent, fair way.

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Each $CULT transaction has a 0.4% transaction fee, and the smart contracts automatically add this fee to the treasury. The goal is to help fill the DAO treasury so that the money can be used for funding grants to proposals. $CULT can also be used to stake for dCULT, a “proof of stake” token needed to vote and submit proposals in the DAO.

The way that the DAO is structured is that only “The Guardians” (top 50 holders of dcult) are the ones who can submit proposals to the board. However, The Guardians are unable to vote on these proposals; that job is done by those underneath them, “Teh Many” who are the ones that vote on these proposals.

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To submit a proposal, they must conform to all or the majority of these three criteria:

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Fight Against Centralization
Further the Cause of Decentralization
Directly Benefit a Noble Cause.

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The CULT DAO does not discriminate against anyone as long as they conform to these certain criteria. 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.

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Proposals

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‍The CULT DAO is responsible for having already funded numerous global projects. Having spoken to some of the members of the CULT DAO community, they recently mentioned how they contributed to the Dutch Farmers, Torando Cash’s defense, and the popular collective movement, Anonymous.

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For those unfamiliar, here is a greater breakdown of each cause and how it relates to the CULT DAO mission.

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Dutch Farmers: The Dutch Farmer protests were a response to the carbon emission legislative measures enacted by the Netherlands. The Dutch government unveiled extreme measures targeted directly at the agricultural industry. “Farms next to nature reserves must cut nitrogen output by 70%,” the Economist reported. “About 30% of the country’s cows and pigs will have to go, along with a big share of cattle and dairy farms.” In response to these measures, farmers protested against the government, and the movement reached across Europe.
Torando Cash’s Defense: Tornado Cash is an open-source software project that provides privacy protection for Ethereum’s users, making it difficult to identify the sender’s identity. On August 7, 2022, the U.S. Treasury sanctioned Tornado Cash for allegations of repeatedly failing to impose effective controls designed to stop it from laundering funds for malicious cyber actors on a regular basis.
Anonymous Collective Iran: Hackers belonging to the online activism collective Anonymous joined the freedom movement in Iran by carrying out cyber attacks database of the Iranian parliament, several national banks, and an offshore petrochemical plant, among other targets.

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Listed below is a graphic showing more examples of the projects that Cult DAO has been responsible for funding.

To this day CULT DAO has funded 107 proposals, allocating to 1,537,138 USD, or 1,391 ETH.

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How Did CULT Start?

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According to the Cult DAO Manifesto, and in the words of their founder, the idea 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. True freedom comes with the realization and acceptance that you exist as a function and cog in a central bank's ideal economic function.

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A central bank's primary focus is maximum employment, yet we are automating jobs so fast that we create bullshit jobs just to keep everyone 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, and 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. - Mr. Omodulus

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Token Model And Economy

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CULT works as a deflationary token which makes it very attractive to investors and traders. Here is a breakdown of the token model and structure behind $CULT:

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The Users interact & trade with the token as normal, and a 0.4% tax is taken (in the CULT token) on each transaction.
This tax is collected in Cult DAOs treasury and builds up to a USD value that matches the market value of 15.5 Ethereum.
CULT can be staked for dCULT. The top 50 dCULT holders are The Guardians who can make proposals. All holders below The Guardians have voting rights, and these are Teh 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, and the burn and distribution plan.
The Burn And Distribution Plan is the vesting schedule for the investee protocols token. The investee company sells their token for $CULT at the burn % distribution rate agreed. 50% is sent to burn wallet & 50% is sent back to dcult members.
If a proposal has been approved, and the 15.5 CULT ETH value is reached, the treasury will automatically send 13 ETH to the proposal wallet address and 2.5 ETH to a burning wallet.
A proposal can be put forward and approved without any limit. However, the proposal will not be paid until the treasury has been replenished of 15.5 ETH.

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Within the CULT DAO’s ecosystem is a token called Revolt ($RVLT), which is the CULT DAOs first ecosystem token and has been built on the Polygon network as a Polygon POS token with a 0.4% taxation. As listed on the website, whereas CULT works to fund protocols furthering decentralization, $RVLT seeks to support individuals working towards the same goal.

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$CULT Token Distribution Facts (As Of 11/14/22)

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Market Cap: $25,563,561

Fully Diluted Valuation: $38,860,944

Circulating Supply of Coins: 4,385,476,103,458

Total Supply: 4,983,113,538,604

Max Supply: 6,666,666,666,66

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Recent Developments

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Cult DAO has made it possible to vote on CULT proposals without having to pay gas fees and via signing a transaction. The idea is that this will bring more inclusion to the CULT proposals system and allow everyone to get involved with the process.

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According to a published article from Cult DAO’s official Medium page - CULT is building its very own zk-EVM (zero knowledge Ethereum Virtual Machine) - layer 2 blockchain - powered by CULT. The goal of zk-EVM blockchains is to allow users to transact on Ethereum with lower fees and shorter delays.

However, as specified by the founder of CULT DAO, the intention of building their own blockchain is (if feasible) to allow users to opt-in or out of sending their contract interactions to a block explorer, meaning that it is up to you as the user whether you wish to be transparent or not.

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Project Information

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Founder: Mr. O’Modulus: https://twitter.com/MrOmodulus

Token Social Media:

Twitter: https://twitter.com/wearecultdao
Discord: https://discord.com/invite/jrTjx4F6Xk
Snapshot: https://snapshot.org/#/cult-dao.eth/about
Telegram: https://t.me/cultdaothemany

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Coin Type: Community Token

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Utilities:

Staking and rewards
Ability to vote in the CULT DAO
Payment of transaction fees

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Token Blockchain Ethereum blockchain

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Project Details: https://cultdao.io/manifesto.pdf

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Tokenomics Deep Dive: https://drive.google.com/file/d/11RwZV-dqqKAdyVGJzNisTwY-QFUJZx44/view

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Community Funding: https://dune.com/cultdaoio/cult-dao

Q/A With The CULT Community

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Q/A With Artorias

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1. What interested you to join the DAO?

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A: I helped start CULT, so I guess that’s how I joined!

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2. What is your involvement in the DAO?

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A: Co-Founder

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3. What do you believe separates CULT DAO from all the other projects out there?

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A: On of the things that I feel makes CULT stand out is that it puts a spin on traditional investment DAOs, where the goal is not necessarily ROI, but is the funding of aligned projects. For me, the funding itself is more important than the returns.

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4. What are some of the recent greats developments that the Cult DAO has had?

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A: We have also launched RVLT (in June) which serves as a support protocol for CULT, and encourages people to participate in the CULT ecosystem. We have also recently announced that we are working on a Layer 2 blockchain dedicated to CULT. We will welcome people to build on our chain and use CULT as the native gas token.

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5. Are there any decentralized projects or events that the cult dao has funded that people should know of?

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A: Plenty. We have had some self-serving investments such as sponsorship and speaking roles and EthBarcelona, EthDenver, and Token2049 crypto events.

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We’ve also funded charitable causes such as Unminding mental health charity, we funded the Tornado cash legal battle, as well as the Dutch Farmers movement.

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On the DeFi side, we have invested in a number of decentralized projects such as Sons of Crypto’s Web3wallet, x7 finance, Messier M87, plus a lot more.

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6. What do you want to see from the DAO moving forward?

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A: Personally I’d like to see more emphasis on seed funding brand new projects pushing emerging tech, such as zero knowledge. For me, it is far more satisfying to fund someone that really needs it, as opposed to buying tokens on the market and looking for returns.

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7. What is something that people wouldn’t know unless they joined themselves?

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A: We have a fantastic community that loves to talk about CULT. Almost daily there is a twitter space of some description going on in the CULT community, and its a very welcoming place

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Q/A With Holly Heart (Guardian)

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1. What interested you to join the DAO?

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A: I initially saw CULT trending on DEXT tools in April, but I ignored it. A little later, I saw a tweet about it from someone that I followed and looked into it more. I bought it strictly because of the tokenomics, knowing little to nothing about the CULT Manifesto. It took me a bit to grasp the tokenomics as it's fairly complicated, but I liked the fact that the tax is 0.4%, the code is immutable, and the liquidity is locked for 265 years, which is rare to see in this space. After apeing in, I started reading the Manifesto later and was surprised about what I read. I initially got involved in crypto with Bitcoin back in 2013, so I knew about decentralization, but I wasn't expecting to see it in what I thought was a meme-coin. After reading more, and listening to many of the $CULT Twitter spaces, I decided to become an active Guardian. A Guardian is one of the top 50 staked $CULT holders and has a specific role within CULT. Some of the Guardians that were pre-selected by the founders, Mr. O'Modulus and Artorias, due to their activity in the decentralized crypto space, and that have supported CULTDAO include:

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‍David Hoffman, Founder of Bankless
Dominic Ryder, vEmpireDDAO
Justin Wu, Founder of DCentral Con
Auryn Macmillan
Kyle Chasse
Guto Martino
IRLart

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2. What do you believe separates CULT DAO from all the other projects out there?

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A: People think that $CULT is a meme coin because it is well-known in that community. But it is actually a DAO, which is a decentralized autonomous organization. The $CULT token is the governance token that allows you to vote on funding other decentralized which do one of three things:

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Fight against centralization
Further the cause of Decentralization
Directly benefit a noble cause

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These projects are submitted by both Teh Many (what we call people that hold and stake $CULT) and the Guardians. The project is workshopped and debated by the $CULT community. If there is a consensus, a proposal is put up by the supporting Guardian on cultdao.io, and then the Many vote on it. The Guardians do not vote on proposals. If the project passes, it gets funded, which could take the form of purchasing that project's token, providing seed funding, or dontating to a worthy cause. Each investment is different.

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3. Are there any decentralized projects, causes, or events that the Cult Dao has funded that people should know of?

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A: So far, we have funded 107 proposals since inception in February 2022 to the tune of 1.7 million dollars. We are transparent about all of our investments, and you can find them on our CULTDAO Dune dashboard (https://dune.com/web3_data/CULT).

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We also have a CULTDAO notion with even more information about each proposal - https://tinyurl.com/cultdao-community-workshop

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We have invested in some notable projects, including vEmpire DDAO, Inverse Finance, DuinGud, Falcon F9, Shibaverse, Sandbox, Wistaverse, History Token, Giveth Regen Farm, Sons of Crypto Web3 wallet, People DAO, Labor DAO, IDriss, MESSIER M87, Verasity, and the Unminding Project. We also donated $20,000 to the Tornado Cash legal defense fund and gave to the Dutch Farmers Fight. So, we've made some pretty incredible partnerships.

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4. What are some of the recent great developments that the CULT DAO has had?

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A: Firstly, we are building our Ethereum Virtual Machine zero-knowledge rollup $CULT chain. It is in development, and there has yet to be an announcement of when it will be released, but the community is hoping it will be released by Q2 2023. We know that our sister token, $RVLT will be released on this chain, and we will be looking for other innovative projects that will want to build on it. If you don't know about $RVLT, that token rewards people for acts of revolt that fight for decentralization. This protocol is called Revolt to Earn, and deeds are voted upon by people who both hold and stake $RVLT.

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We are also developing a Code of Ethics for our DAO, which is virtually unheard of in this space. With the proliferation of scams, pump and dumps, and just outright fraud, we want to hold ourselves to a higher standard. We want transparency in all that we do.

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Since we don't pay for marketing, I've started a public relations project called CULT the BRAND, which aims to show the power of partnering with CULTDAO and increase awareness of our current partnerships. We are working on our first co-marketing campaign, which will be released at the end of the month. I'm excited to start highlighting some of our star investments that share the same ideals found in our CULT Manifesto. The fight for decentralization is more important now than ever. The crypto space needs to work together to make fundamental changes.

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5. What do you want to see from the DAO moving forward?

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A: Since we are a DAO, there is no one person in charge. It's up to everyone to make the DAO successful. I'd love to see more people get actively involved, as we have a lot to accomplish. Now is the time to build since we are in a bear market; I want us to be prepared for when the next bull run starts. My personal goal is to educate more people on not only our DAO and general crypto information, such as buying and staking CULT & RVLT, but also the importance of decentralization and keeping their crypto safe. We've seen some terrible consequences of trusting CEXs. We're also dealing with the threat of Central Bank Digital Currencies (CBDCs). CULTDAO is working on educating people on all of these issues.

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6. What is something that people wouldn't know unless they joined themselves?

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A: How marvelous the community is. The community of a token will make or break it. I know everyone thinks their community is, but we've done some pretty cool things. As I mentioned previously, we are building our own Code of Ethics. We also have our own CULT community charity, which was a proposal that the Many voted on. I'm not aware of any other crypto project that has done this. We have had members donate to the charity as well. We have many passionate people who give their time and energy to the DAO because we all want it to succeed.

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7. Are you scared (CULT DAO) of being shut down by the government or seen as a threat?

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A: Because our code is immutable, it's impossible for it to be stopped, we call it "The Infinite Machine" for a reason. The government's interference and the threat of over-regulation exist for all crypto projects, which is why it is so important that everyone joins us in our fight for decentralization. I highly suggest everyone reads the CULT Manifesto to see why we are so passionate and what we truly stand for. You'll want to join this cult once you do.

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Closing Remarks

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The CULT DAO is one of the more intriguing DAOs out there due to its goal of helping people break away from societal, economic, and other norms. CULT functions to break the circle of oppression that our society currently faces, and its goal is to allow revolutionaries to be revolutionaries by supporting them when they take off. It will be interesting to see how the CULT DAO deals with the government down the road. There is no control, and no human interference whatsoever, which means no one can change CULT. Additionally, no one can access the liquidity, upgrade or edit the smart contracts or the token. CULT is different because it cannot be stopped, not by the Guardians, the developers, the government, regulation or anybody. They can destroy the servers, but the code lives on, and the investments into Decentralized technologies remain.

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