GM LeoFinance & Hive!
My name is... unimportant, because I am just one of Teh Many!
As V put it...
I am just one of the many people fed up with oppressive, controlling, centralized, fear-based monster we refer to as "Society."
For the sake of usernames & all that, you may call me @cultdaoist
A year ago, I read the Cult DAO Manifesto, and it was liking reading the Bitcoin Whitepaper for the first time... only the math is WAAAYYY better.
Since then, I've been a dedicated part of the $CULT
Recently, I was talking to my friend @ura-soul about Hive, and the work he's doing to improve & upgrade the platform. I figured hey, why not pop over and see how it is on Hive, and #TalkAboutCULT (The 1st rule of Cult DAO) while I'm at it.
What is Cult DAO?
To put it really simply, CULT is a decentralized venture capital fund. The things that really make it stand out are:
- The Tokenomics (more on that below)
- The 3 criteria for proposals
- Fight Against Centralization,
- Further the Cause of Decentralization
- Directly Benefit a Noble Cause
- The Liquidity Pool is locked for 263 more years
- The contract is audited, un-editable, and the keys have been renounced
- The massive, very active, global community of decentralization advocates
$CULT at ETHDenver 2023
Here are two of our community members, Mr Cultmander & Wastelander, on stage at ETHDenver last year, talking about Cult DAO. The DAO passed a proposal last year to sponsor the conference, and we made a big splash. This year, we're hosting an after-party, but not throwing a full proposal's worth of coin at it.
The Tokenomics
The $CULT token is hyper-deflationary.
That's right, not a reducing inflation rate or fixed inflation rate. Deflation.
At launch, there were 6,666,666,666,666 $CULT tokens minted, and there will never be more created. In the 2 years since, more than 27% of those tokens have been burnt.
Here's the Twitter account that posts all $CULT burns: https://twitter.com/burncultcoin
Burn Sources
- When a proposal passes, 2.5 ETH worth of $CULT is burnt instantly.
- When divestments come back to the DAO, the funds are all used to buy $CULT on Uniswap, with 50% of that being burnt, and the other 50% being distributed to the stakers.
- The upcoming Modulus blockchain (an L2 zk-EVM on Ethereum) uses $CULT as its base token, with all gas fees paid in CULT, and those gas fees being burnt.
I'll be doing whole posts on the tokenomics of CULT over the coming weeks & months, but for now if you want to dive deeper, here are the documents:
How Can CULT & HIVE Collaborate?
I don't have any ideas yet, I've still got to dig more into this platform & network & community... but one of the most important pieces of Cult DAO is the idea of #StoneSoup...
$CULT-ists are the opposite of "Maxis" - we're dedicated to weaving together as many projects, platforms, and communities as we can!
How to Follow Cult DAO
Here are all the main links you need to follow the DAO and learn a lot more about the project, our investments, and our community!
- Website: https://cultdao.io/
- Dune: https://dune.com/modulus/culttreasury
- Twitter: https://twitter.com/wearecultdao
- Medium: https://wearecultdao.medium.com/
- YouTube: https://www.youtube.com/@cultdaotv
- Modulus Website: https://moduluszk.io/
Good to meet you, Hivers... Hivicans? Hivians?
