Cult DAO
Crypto Overview
Overview
Cult DAO is a decentralized autonomous organization (DAO) launched in 2022 with the stated purpose of supporting decentralized technologies and projects that challenge centralized authority. The protocol uses two tokens: CULT (the primary token) and dCULT (earned through staking CULT).
Intended Utility
The project aims to fund and support 'revolutionary' decentralized projects through a community-driven investment mechanism. Token holders can propose and vote on which projects receive funding from the protocol's treasury.
Actual Utility Assessment
The protocol implements a 0.4% transaction tax on CULT trades, with proceeds distributed between staking rewards, treasury funding, and protocol maintenance. Users can stake CULT tokens to earn dCULT, which provides governance rights.
Token Distribution Analysis
Initial token distribution showed signs of concentrated ownership, with a significant portion held by early participants. The protocol implements automated liquidity mechanisms and burn features to manage token supply.
Development Activity
While the project maintains an active social media presence, on-chain development activity has been limited. The majority of recent updates have focused on community governance rather than technical development.
Revenue Model
The protocol generates revenue through transaction fees and maintains a treasury for project funding. The staking mechanism does not involve traditional interest but rather protocol-derived rewards from transaction fees.
Crypto Impact
To assign a comfort level investing in Cult DAO from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Cult DAO.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.