CULT is a Public Good
And Cult DAO & The CULT Token itself, IS a Utility
What is the utility of Ether? Well that’s easy, it powers the Ethereum blockchain. It is the lifeblood and fuel of the Ethereum network. Ether IS a utility, it is a public good that can be used by anybody to build & scale anything in a transparent, fair way.
What is the utility of CULT? Well that’s easy, it powers CULT DAO’s decentralized funding mechanism. It is the lifeblood and fuel of CULT DAO. CULT IS a utility, it is a public good that can be used by anybody to fund, build & scale anything that contributes to decentralization in a transparent, fair way.
How simple was that?
It is so simple that people almost do not believe it. Every transaction of CULT sends 0.4% of the value of that transaction in CULT, to CULT DAO’s treasury. The treasury extracts CULT this way from the circulating supply, pushing it into a smart contract, that can only release it back into circulation at a maximum and pre determined level.
The top 50 stakers are The Guardians, around 15 of which were pre-appointed, these were all trusted Ethereum and decentralization advocates such as David Hoffman, Justin Wu, Guto Martino, Dominic Ryder & Jeremy Guzmán to name a handful.
Guardians only have the power to put forward proposals. Their token allocation cannot be used to vote unless they eventually fall outside of the top 50 stakers.
On the other side is The Many. These are all stakers outside of the top 50. The Many are who decide which proposals should or should not pass.
If The Many pass a proposal 13 ETH worth of CULT is sent to the investee protocol, with 2.5 ETH worth of CULT burned.
Why do we send CULT? This is the part people immediately jump on to say it causes sell pressure & yes, eventually they will sell. However, 99% of proposals are discussed in our Discord prior & we know the leaders of the teams & trust them to be sensible. What people fail to realise about why we use CULT is that every drop in the value of CULT vs Ethereum increases two things.
- Amount of CULT burned.
- With consistent volume, the amount of CULT sucked out of circulation, and into the treasury.
This means that the longer CULT is in a depressed market, the quicker CULT is burned and taken out of circulation.
Every second CULT spends in the red, is a second less until CULT turns green. Every sell & drop in price only transfers short term gratification to those waiting for long term gratification. This is why the CULT Army is just as loud when we are red as when we are green. The tokenomics are built to weather, and in fact benefit from any crypto winter, whilst any price and volume increase to the upside also allows us to grow all the additional CULT we extract at a lower price.
This is why we call CULT DAO the infinite machine. This is a token and a protocol that needs and has no team, no ownership whatsoever. It is built to function entirely community run, there is no administration on the contracts and the tech needed.
This is why CULT DAO is a public good. It can be used by absolutely anybody, including by ANY EXISTING CRYPTO COMMUNITY.
CULT DAO? Yeah that’s part of our ecosystem
“Beneath this mask there is more than flesh… beneath this mask there is an idea… and ideas are bulletproof.”
Have you heard about stone soup? It is teh way.
Stone Soup is a folk story in which hungry strangers convince the people of a town to each share a small amount of their food in order to make a meal that everyone enjoys, and exists as a moral regarding the value of sharing.
When you see the CULT community in your comments talking about CULT, they are not trying to convert you, FUD against your project or community, they are trying to let you know that if you believe in a better world, if you support decentralization & you have an idea that can change the world, we want you to have the funds you need to implement that idea.
CULT DAO is not segregated as part of the CULT community. It is open for anybody to use, as long as you have an idea that a Guardian believes in enough to propose to The Many, then CULT is YOUR ecosystem token. CULT functions too fast forward the collapse of the monetary system by any means necessary, and WITH anybody.
Shiba? Saitama? Volt? Kiba? Chainlink? Bankless? Binance? Ethereum? Doge?
Every crypto community in existence, Cult DAO is a part of YOUR ecosystem. It exists to fund decentralization. CULT is beyond good and evil, it is a machine, it has no morals, emotions or opinions. It is fed proposals, and sends and burns CULT upon investing in those proposals.
CULT DAO’s community is so strong because we believe that together, we can not only take down the current financial, societal and monetary system, but together we can do anything. So when you see The CULT Army in your comments, we aren’t trying to shill you our token, we are inviting you to use our public good, to put forward a proposal on behalf of your community. We actively want to invest in your ecosystem, because your ecosystem is our ecosystem.
The time for change was years ago. The time to UNITE is now.
You are a revolutionary. You are Ryoshi.
We are CULT DAO.
Read The Cult Manifesto. It’s time.
https://cultdao.io/wp-content/uploads/2022/01/CULT-DAO-Manifesto-1.pdf
-Mr O
