CULT is the tradable token of the decentralized autonomous organization (DAO), CULT DAO. These tokens are designed to support decentralization technologies, with a 0.4% transaction fee that contributes to the DAO treasury for funding such initiatives. When CULT is staked in CULT DAO, it converts into dCULT, a proof of stake token that can later be converted back to the original CULT stake along with earned rewards.
Proposals for funding are exclusively submitted by the top 50 holders of Cult DAO, known as Guardians, who are unable to vote to mitigate potential corruption. Proposals must primarily align with goals of combating centralization, promoting decentralization, and supporting charitable causes. Submissions can originate from various groups including venture capitalists, politicians, and community members, adhering to specified guidelines.
Manage your CULT tokens directly from your MEW Wallet to view, swap, send, and receive them. To receive CULT tokens, simply send them to your public wallet address and view them by selecting your wallet and the token from the list. Navigate to the CULT token information page. For sending CULT tokens, click 'Send' and enter the recipient's wallet address. To swap tokens, click 'Swap' and select your desired tokens; if 'Swap' is inactive, utilize a DEX for the transaction.