Cult DAO Is Happy to Announce Its Launch and Has Released the Cult Manifesto
Making transactions with CULT will help the protocol by gradually filling the DAO treasury, which will support investments in decentralized technology.
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Cult DAO is happy to announce its launch and has released The Cult Manifesto, bringing what it bills as the first completely decentralized token. In theory CULT, like Bitcoin cannot be stopped once it has started. 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. As long as proposals are submitted, there will be a steady source of financing for any protocol wanting and willing to alter the world. However extreme that could be.
Submitting Proposals for Project Funding
Cult DAO’s goal is to accelerate the downfall of the global banking system and the current world order. The project is the first entirely decentralized financing mechanism to sponsor revolutionaries and those eager to break society’s ties.
Governed nations derive their just powers from the consent of their citizens. CULT aims to end the tyranny of sovereign nations and central banks by accelerating the collapse of the old financial system.
The Cult Manifesto makes for striking, dangerous yet gripping reading. Mr. O’Modulus, the anonymous yet confirmed by KYC as a famous existing crypto protocol founder, stipulates that today’s monetary system keeps people in poverty as debt-based societies need inflation to operate, and inflation serves to rob the poor and keeps them from ever catching up. It aims to have an out-of-control project that will awaken all of the inhabitants on our planet. Fair distribution of power is an achievable goal if people want to take part in it.
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 and hence cannot be utterly corrupted in their judgments.
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 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.
Cult Dao is a completely decentralized funding mechanism that allows everybody to contribute novel solutions. The DAO operates independently and with the help of the 50 guardians who have the most CULT tokens. The project also has a treasury system that raises funds on a recurrent basis by utilizing network exchanges.