The price of Cult DAO is up 55% in the past 24 hours, as investors rush to buy CULT. But what is Cult DAO, and why is Cult DAO price rising so quickly? Let’s take a closer look at this exciting new currency and explore what the future may hold for it.

Cult DAO logo
Cult DAO Price Up 55% in 24 Hours

Cult DAO Overview

Cult DAO strives to help people who want to build innovative crypto projects that will improve the decentralised revolution. It is a community-driven organisation and they use blockchain technology to finance and develop these forward-thinking projects.

cult DAO homepage
Cult DAO website (https://cultdao.io/)

Cult DAO is striving to empower people so they can break away from the bindings of society, and ultimately achieve economic freedom. To do this, Cult provides its users with various tools and resources needed to launch DeFi projects. Moreover, users can vote on which decentralised application projects should be funded to reach this goal.

Why Cult DAO is Up?

The recent surge in Cult DAO’s token price is due to the launch of their own privacy-preserving blockchain. This new development has caused investors to become extremely bullish on the project, resulting in a 55% increase in value over the last 24 hours and Cult DAO price after the pump is around $0.000007599.
The tokenomics of the Cult DAO project are already very favourable for investors. Now that it is powered by its own layer 1 blockchain, it is even more attractive as a long-term investment. The top layer 1 blockchains will automatically generate funds for decentralised applications, based on votes cast by members of the DAO community.
With this step, deflationary tokenomics will become extremely hyper-deflationary. The funding will finance a decentralised ecosystem while Cult and rvlt incentivise the building and growth of the ecosystem. As funded projects mature and expand, so will the cult ecosystem, causing the Cult token to get burnt up at a faster rate.

What’s Next for This Token?

Cult DAO’s end goal is a decentralised future, but they are willing to do whatever it takes to oppose centralisation in the present. Cult DAO got as close to assembling an actual DAO as any organisation can be. In addition, they have also crafted a manifesto which explains their motivations and reasoning.

what's next written on chalkboard
What’s next for Cult DAO?

As one would expect from looking at other DAOs, this one has its own governance models too. The top 50 stakers of the CULT token function as Guardians within the cult; these are the only members allowed to put forth proposals to be voted on by the rest of the group.

These proposals should request investments and adhere to these guidelines:

1) Fight Against Centralisation
2) Further the Cause of Decentralisation
3) Directly Benefit a Noble Cause

Now, it is up to the DAO to vote on these proposals and grant the requests.

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By Sardar Arslan

Sardar Arslan is a highly respected figure in the blockchain and cryptocurrency space. A well-known author, investor, and public speaker, he is focused on emerging technologies such as blockchain and cryptocurrencies. He has been quoted in numerous publications on these topics, and his insights are sought by business leaders and entrepreneurs around the world.