Cult DAO, the basis for a financial revolution?
There is no denying that there are several issues in our world. What about climatic issues as well as, for instance, the conflict between Ukraine and Russia? Viruses aren’t the only things with an eye on our health. We can’t really argue against what we all see happening, even though we all see it.
However, cult DAO holds a different perspective. She recognizes these issues as well, but she wants to be able to address them through her project. Would you like to know more about Cult DAO? Then make sure to read on!
What is Cult DAO and what exactly does it do?
Let’s first examine what Cult DAO is. This DAO has its own treasury and token, and it is a decentralised autonomous organisation. To be honest, it can be challenging to define this project’s specific nature. We can infer that Cult DAO gives equal attention to social and economic advancements. The treasury at the disposal of Cult DAO also has a specific function. As a result, it is especially meant to take part in investments in projects that satisfy a number of requirements. The three items listed below can be taken into account for these crucial criteria:
The 50 biggest and most significant attackers are chosen to represent the goals. They pay attention to the name “The Guardians” for these strikes. Other strikes are given the chance to vote on the proposition in addition to these 50 parties.
A “token burn” is employed to encourage both voting and proposal-making. 2.5 ETH are burned for every 15.5 ETH of CULT gathered. The invested protocol or purpose that was chosen by vote receives the 13 ETH that are left over.
What should you know about Cult DAO’s CULT token?
When we take a closer look at the ecosystem of Cult DAO, we come to the conclusion that two coins are part of it. The so-called CULT token is the most important of both coins. For the second token, she listens to the name dCULT. This token, in turn, was created for administrative tasks.
The above makes it clear that the CULT token is responsible for filling the treasury. Moreover, it can also serve as a speculative tool for investors. Trading CULT has obviously ensured that Cult DAO’s DOA treasury has become quite full since the project’s inception. In this way, the project has the necessary capacity to be able to invest in decentralized projects. To achieve this, cult transactions at the time of writing have a transaction fee of 0.40 percent.
The procedure of staking your CULT tokens is straightforward in general. Do you intend to eventually decide to unstake a particular portion of your holdings? You can then just click the “Withdraw” option. Your tokens will be delivered right away when you confirm the purchase. In any event, it is evident that the Cult DAO project has a wealth of intriguing benefits. The motivation for starting the project was undoubtedly extremely noble, however it is also possible to generate some passive money for yourself by stopping the use of the CULT coin. In any event, Cult DAO is undoubtedly worth a look if you’re looking for a project (on the blockchain) that will improve the world.