Crypto Sapiens - Cult DAO | Exploring the $Cult Ecosystem - Artorias.x
Primer: Cult DAO is a decentralized venture capitalist platform founded by the mysterious Mr. O’Modulus. Their purpose is to empower and fund those building and contributing towards our decentralized future. In this episode of Crypto Sapiens, Artorias.x demystifies Cult DAO for listeners.
Background
Have been working in crypto for some time, where he is doxxed
Was contacted by Mr. O’Modulus, the founder of Cult DAO
Created an alter ego for his involvement with Cult DAO
Cult DAO
A decentralized venture capitalist platform
Their treasury is built up from transaction fees
The top 50 stakers are known as Guardians
Only Guardians are allowed to submit investment proposals. Everyone else who’s not a Guardian is allowed to vote on those proposals
Has a hyper-deflationary mechanism. Every time an investment is made, 2.5 ETH worth of CULT is burned
50% of investment rewards are burnt while the remaining 50% is used to buy back and distribute CULT to stakeholders
Their Manifesto
It’s written by Mr. O’Modulus
It touches on many facets of the world we live in — feelings, political leanings, mental health, etc.
There’s something in there that anybody can relate to
“Whoever this guy is [Mr. O’Modulus], he's feeling a lot of things that a lot of us are feeling too, kind of just put that onto paper. And it's almost a rally for the people.”
- Artorias.x
The Mimetic Value Of The Cult Name
There’s a meme element to it
A lot of people treat it as a meme coin
He does not see it as a meme coin:
Buying and selling CULT contributes to the Treasury
They have an active community on Discord
Thought Process Behind The Outreach For Guardians
Guardians were chosen by Mr. O’Modulus because of their beliefs in decentralization
There was someone who was given a pre-allocation as a Guardian, but the person dumped it
The other Guardians still remain as Guardians
50 people were shortlisted but only 15 people were given their allocation
These Guardians are public figures
Process Of Creating Proposals And Getting Funding
Their Discord looks like a proper hub with 2 layers:
General chit-chat
Special channel meant for Guardians
In the Guardians channel, there is constant activity on proposal ideas
Pre-proposal courses (people put their ideas) —> Workshop (more details get ironed out)
Have received a good variety in the types of proposals
Initially, he was concerned that rubbish proposals would get passed. However, this did not materialize
Recently, a marketing proposal to publicize Cult DAO on a billboard on Times Square has just passed
Inverse Finance is bringing in yield farms and staking rewards
Governance
Their governance token is dCULT
When people stake CULT into the DAO, they receive dCULT in return
The Guardians are the top 50 dCULT holders. The Guardians can propose but not vote
This takes away power from the hands of whales
Voting is completely decentralized and done via smart contracts
Thought Process Of Minimizing The Impact Of Whales
In other DAOs, votes are weighted towards the whales
Trying to make it a fairer system
Tokenomics
Token is built to last
Token can function at lower price points
CULT volume is important as it fills the Treasury with funds
When a proposal is going through, the CULT value is always calculated in comparison to ETH
When there’s sell pressure, more tokens are taken out of the circulation faster, contributing to the build up of the Treasury
All information presented above is for educational purposes only and should not be taken as investment advice. Summaries are prepared by The Reading Ape. While reasonable efforts are made to provide accurate content, any errors in interpreting and summarizing the source material are ours alone. We disclaim any liability associated with the use of our content.