Cult DAO (CULT) Update

I posted yesterday regarding $CULT - CULT DAO and had not even realized what I had speculated on a few weeks ago until reviewed more of the project and I started seeing some more Tweets and Youtubers coming out of the woodwork.

I'm up over 17,000% on this one and it seems like it's just getting started. No profits taken yet I'm letting it ride as it's still very very early.

I think @leofinance @taskmaster4450 @edicted should take a look at some of the mechanics of this project. Perhaps on the next $CUB Project you can implement some of these concepts or start something totally new.

This was posted by Cointelegraph on February 10th

https://cointelegraph.com/press-releases/cult-dao-takes-decentralization-to-extreme-levels-awakening-revolution

Right now it's at a MarketCap of $149,379,576 and a price of $0.00006841. For comparison Shiba Inu is at a Market Cap of $14,827,096,483.

TOTAL MAX SUPPLY 6,666,666,666,666 CULT :)

Can $CULT get to $2 Billion or better yet $20 Billion Market Cap? Yes! Will I become a Multi Millionaire if that happens ? Big Time, and actually the Market Cap can be much lower for me to be a Multi Millionaire since I was so early! Why haven't you speculated and put a few hundred into this?

A good breakdown

https://www.youtube.com/watch?v=lXQA1LnPPLA

There's been a lot of speculation that "Ryoshi", the creator of Shiba Inu has created $CULT

CULT DAO APP

Screenshots from Cult Dao Website

Below is information directly from their Discord Page

FAQ & Explanations for CULT Users & token holders

"*What is CULT?

CULT is the tradable and liquid token of CULT DAO, transacting CULT will contribute to the protocol by filling the DAO treasury slowly, to fund investments into decentralised technologies. This is achieved due to a 0.4% tax on all CULT transactions.

What is dCULT?

dCULT is just the “proof of stake token” for CULT. When you stake your CULT into the DAO, you are given dCULT, this can be swapped back at any time into the amount of CULT you staked originally, plus any rewards that were given to the DAO in the time period you owned dCULT.

What makes CULT different from other decentralised investment platforms?

There is no control, no human interference whatsoever, we cannot change Cult, we cannot access the liquidity, we cannot 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, the investments into Decentralised technologies remain.
. What is the idea behind CULT and how did it begin?

“Beneath this mask there is more than flesh, beneath this mask there is an idea, and ideas are bulletproof.”

CULT serves to fast forward the collapse of the old financial system, to end the tyranny of sovereign nations and central banks. The current financial system serves to keep the people poor, a society built on debt needs inflation to function, and inflation serves to rob the poor and allow them to never catch up with their overlords in the ruling class.

CULT 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, if you read this and believe that you are free then you are more chained than us, true freedom comes with the realisation and acceptance that you exist as a function and cog in a central banks ideal economic function. A central bank's primary focus is maximum employment, yet we are automating jobs so fast that we are creating bullshit jobs just to keep us 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 ones job should mean freedom. Freedom however cannot exist under the current economic and financial system. I repeat, true freedom comes with the realisation and acceptance that you exist as a function and cog in a central banks ideal economic function. The system is designed to keep us enslaved, 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.
. How can I get involved in CULT?

“You are not your job, you're not how much money you have in the bank. You are not the car you drive. You're not the contents of your wallet. You are not your fucking khakis. You are the all singing, all dancing crap of the world.”

The first rule of CULT is you TALK about CULT, we are almost all oppressed in this society, that doesn’t take away that some are much more oppressed than others, but rather than rise up, we argue between ourselves about who is more oppressed, you can’t stand up for this, why? Because of that! You are talking from a position of privilege?! Who are you to speak for X?!

We are all prostitutes: Whether we sell what's between our legs; or what's between our ears. There is only one winner, and that is the oppressor.

What measures are in place to ensure that my crypto is protected?

Our contracts and token are & is fully audited, liquidity is locked, the keys burnt & the contracts non upgradeable

What is decentralised venture capitalism?

The purpose of CULT is to empower and fund those building and contributing towards our decentralised future, our society is built to make it as difficult as possible to break away from societal, economic and other norms. We give funding to those who are ready to break the chains and have an idea that can change our world.

What is a DAO?

A DAO is a Decentralised Autonomous Organization. The definition of which is argued almost as much, and by almost as many, who squabble between themselves in left wing politics.

A DAO in its purest form is what we have created with Cult DAO. Once Cult DAO launches, it will function forever more with no human interference beyond what has been coded for it to be influenced by, which is votes from its holders. Nobody can dismantle the code and nobody can stop it collecting funds and sending them to those furthering our cause, as long as the token is traded & as long as people are passing proposals, CULT will live on. . Who are the Guardians and how are they chosen? What is their purpose?

The Guardians are the top 50 token holders, they are tasked with safeguarding which proposals are sent to The Many to be voted upon. Due to their larger weighting and token share, they are not allowed to influence the proposals they bring before the Many, they may champion the proposal as much as they please but only their voice may influence others, not their wealth. . Where does the money invested come from and how does CULT staking work?

Users interact & trade with the token as normal, 0.4% tax is taken (in the CULT token) on each transaction, this means almost all transactions should clear on standard DEX slippage settings.
This tax is collected in Cult DAOs treasury and builds up to a USD value which matches the market value of 15.5 Ethereum.
CULT can be staked for dCULT. The top 50 dCULT holders are The Guardians. All holders below The Guardians have voting rights and these are The Many.
The Guardians (top 50 holders) are the only users who can put proposals before the DAO, but they cannot vote on them, these proposals must conform to all or the majority of these three criteria.

Fight Against Centralisation
Further the Cause of Decentralisation
Directly Benefit a Noble Cause.
.

These proposals can be from anywhere, VCs, community members, politicians, anarchists, socialists, the right wing, as long as they conform to the guidance above and it is a Guardian who submits it, any proposal can be voted on by the 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, the burn and distribution plan.
The burn and distribution plan is the vesting schedule for the investee protocols token. For this example let us use a fake protocol ABC DAO. The vesting schedule can be daily, weekly, fortnightly or monthly, but cannot be vested over longer than 18 months at the very maximum.
Lets say ABC DAO promises 1.2% of it’s $ABC token, vesting once a month for 12 months. On the repayment date, rather than sending the token of the investee protocol, like a normal VC funded protocol would, the investee company instead swaps 0.1% of its supply (1.2% over 12 months) of $ABC for $CULT. ABC DAO then sends half of the cult to a burn wallet, and the other half to the DAO, which is paid out to dCULT holders.
If a proposal has been approved, and the 15.5 CULT ETH value is hit, it will automatically send 13 ETH to the proposal wallet address provided, and 2.5 ETH to a burn wallet.
If a proposal is not approved, the CULT will continue to build up past the 15.5 ETH level but will auto send once a proposal is approved eventually. . Why can the Guardians submit proposals to the DAO, but not vote on investment protocols?

The power in people, is stronger, than the people in power. This cannot be forgotten.

What type of decisions/ investments will CULT stakers pass votes on? Will projects only be cryptocurrency/ blockchain based?

We leave the decisions, and the nature of the investee projects, open to the Guardians and the Many. We offer only our vision & guidance on what we created the protocol to be used for.

Do I have to stake my CULT when an investment protocol is agreed upon or can I decide not to stake?

If you would like to vote, then you must be staked. You will also only receive rewards from the investee companies if you are staked. However, you do not need to be staked to benefit from CULT, every transaction furthers the cause and every burn decreases the supply of the token, increasing the scarcity.

What criteria must be observed for a DAO proposal to be eligible for submission?

Our guidelines followed (Fight Against Centralisation, Further the Cause of Decentralisation, Directly Benefit a Noble Cause.)

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
The burn and distribution plan

What constitutes a ´Noble Cause´ in terms of investment?

“My fellow revolutionaries, liberation is a noble cause. We must fight to obtain it.” . What is a ´burning mechanism´? Why do we burn 2.5 ETH worth of CULT out of every 15.5 ETH raised?

We are not blind to the blockchain and crypto markets core attraction being the potential huge increases in price of a token picked by a user. We are also wise to the previous financial systems tricks to keep the Many subdued and this is why our burn system has been designed to make our economic model hyper deflationary,

Why do we offer full distribution in the form of 50% burning and 50% proportional redistribution?

We the Many, who are for the people, put our faith IN the people. We fund those willing to fight for our future and reward them with our gratitude, community support and our trust. In turn, they sacrifice half of the tokens we have purchased from them, and send them to a dead wallet. The other half are rewarded to the Many for their contributions they have put forward for the cause by transacting in CULT.

From the 50% redistributed to CULT stakers, users can then stake the CULT again into dCULT. What is the difference between CULT and dCULT OR What is dCULT?

dCULT is the “proof of stake” token. It is non transferable. Only the user who staked their cult will benefit from dCULT. Owning a proportion of dCULT when profits are sent to the DAO allows you to claim your reward which is paid our in proportion to your dCULT ownership.

Why is the investee token redistributed by converting it into CULT token? How will the rates of disbursement be agreed upon?

The investee token is converted into CULT as it creates additional transactions, as well as additional buying pressure in the market. The rate of disbursement is offered by the investee protocol, a proposal can be brought about again once rejected and so if the cause of the rejection is deemed to be due to an inadequate disbursement offer, the investee protocol can fix and make these amends.
.

Below is information related to those Guardians who wish to submit their Proposal for consideration.

What is the added value of an investment from CULT DAO?

Community and your very own Cult. Where else can you find a ready and waiting community who already share your values and are interested and fully aligned to your goals? We are your shillers, your marketiers and your mercenaries in this fight against centralisation. We will champion you to the ends of the earth.

How do I submit a protocol for funding from the DAO?

To submit proposals to the DAO you must enlist the help of a Guardian, or multiple Guardians. Only they can put your proposal forward, unless you yourself are one of the top 50 dCULT holders. Your protocol must conform to at least two of the three below guidelines, it is for the Guardians & then the Many to decide if they believe your protocol matches.

Fight Against Centralisation,
Further the Cause of Decentralisation
Directly Benefit a Noble Cause.

Your Guardians can only take you to the gates, the Many will be the ones who vote on your proposal.

What does my proposal have to 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 -The burn and distribution plan . Total Supply - Your token cannot have any mint functionality and the audit must prove this

Percentage of total supply being offered in return for investment - If you have pre priced rounds then great, just calculate the percentage a 13 ETH purchase buys CULT at the price of the round you are raising for. It is up to the Many to decide what is approved, but the DAO is designed for pre seed and seed rounds of funding.

The Tokenomics - You must provide details of where and who owns or is anticipated to own how much of your token and what price they paid for it. You must also provide vesting details, any TGE unlock & anything else that may impact the decisions of the DAO. If the DAO does not think your data is adequate then your proposal will be rejected, this could impact your chances of funding if you have to resubmit so please do make sure your numbers are clear.

The audit of the token and any contracts if built - The full report should be submitted in the proposal for the token and also for any other contracts if applicable.

The burn and distribution plan - The burn and distribution plan is the vesting schedule for your protocol token. The vesting schedule can be daily, weekly, fortnightly or monthly distributions, but it cannot be vested over longer than 18 months at the very maximum. For an example, let us use a fake protocol ABC DAO.

Lets say ABC DAO promises 1.2% of it’s $ABC token, vesting once a month for 12 months. On the repayment date, rather than sending the token of the investee protocol, like a normal VC funded protocol would, the investee company instead swaps 0.1% of its supply (1.2% over 12 months) of $ABC for $CULT. ABC DAO then sends half of the cult to a burn wallet, and the other half to the DAO, which is paid out to dCULT holders. *"

QUOTED DIRECTLY FROM CULT DAO DISCORD FAQ FOR YOUR CONVENINECE

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