Search
Close
  • Home
  • Business News
  • Crypto News
    • Binance
    • Bitcoin
    • Cardoso
    • Dogecoin
    • Ethereum
    • NFT X Metaverse
    • Shiba in
    • Other alt coins
  • Market News
  • Technology News
  • Tools
    • Crypto Table
    • Exchange Rate
    • Currency Converter
Menu
  • Home
  • Business News
  • Crypto News
    • Binance
    • Bitcoin
    • Cardoso
    • Dogecoin
    • Ethereum
    • NFT X Metaverse
    • Shiba in
    • Other alt coins
  • Market News
  • Technology News
  • Tools
    • Crypto Table
    • Exchange Rate
    • Currency Converter
Search
Close
Home Crypto News Binance

Cult DAO Breaks Down Recent Increase in CULT Treasury Volume

Cointori by Cointori
April 17, 2022
in Binance, Bitcoin, Business News, Crypto News
152
SHARES
1.9k
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

[PRESS RELEASE – London, UK, 12th April 2022]

Cult DAO, a community-driven decentralized autonomous organization, published recent data on its hyper-deflationary CULT token, gaining the necessary traction and volume to overcome an initial stage of anonymity. These math-backed revelations are scattering away any remaining doubts that CULT is a meme coin. On the contrary, it shows the token’s ambition to challenge the most powerful cryptocurrencies in the market hierarchy.

According to Etherscan data, the Cult DAO protocol burned over 1.725 billion CULT tokens in the past two weeks. More precisely, 1,725,774,482 CULT, which equals roughly 25ETH, was burned from March 24 to April 8, 2022.

The Cult DAO Treasury accrued 81.496 billion CULT tokens during the same period, equaling nearly 130 ETH. It’s worth noting that the protocol takes a 0.4% tax from transactions, which it sends automatically to the treasury. In time, these funds should help finance investments in decentralized technologies.

Below is the average amount of tokens the treasury collected:

Furthermore, on April 11, more CULT was taken out of circulation than two days before with twice the volume. This perfectly illustrates the power of $CULT DAO.

RelatedPosts

Aptos Labs Issues Grant to Blockchain Lab at Cornell University

Why Venture Capitalists Won’t Be Held Accountable for Investing in FTX

Judge Bans Sam Bankman-Fried From Contacting FTX Employees And Using Signal

But, where do the additional tokens come from?

Currently, the protocol registers 1.9 trillion staked tokens and another 1.567 trillion that were burnt. The project’s increasing popularity has led to a steady surge in treasury volume. Simply put, an increment in activity takes more tokens from the general circulation into the treasury.

Below, you can see the effect this had on the treasury balance. As the tokens move from general circulation to the treasury, the protocol takes into account the reduction in % for future movements. In other words, the treasury is filling faster than proposals are sending CULT out. Therefore, the supply is constantly squeezed.

These recent massive token movements were not enough to decelerate the increase in the CULT balance within the treasury. On the contrary, the treasury volume increased thanks to The Many, Cult DAO community members with voting rights.

About Cult DAO

Cult DAO is a blockchain-based DAO aiming to accelerate the decentralized finance revolution. Its goal is to empower people with the necessary tools to “break away from societal, economic and other norms.” To this end, its users can actively vote on funding for projects focusing on decentralized applications.

The protocol uses CULT, a hyper-deflationary token, to support the development of a fully decentralized economy. Developers state that CULT is not a charity token or a speculative coin, unlike some deflationary tokens in the market.

Cult DAO burns 10,000 tokens out of every 60,000 it raises. It also uses a half-and-half redistribution model that sees 50% of the tokens burn and the remaining half go towards dCULT holders. This occurs when an investee project sells its tokens for CULT. If it maintains its trajectory, CULT could become a candidate to challenge dominant projects within the next five years. And, judging by its current progress, the possibility of flipping big crypto projects is not that unlikely.

Tags: BitcoinbusinessBusiness AnalysisBusiness TipsGold PriceInvestment LossMarket StoriesOil MarketSillicon ValleyunUnited StatedVenture CapitalWall StreetWater deep
Share61Tweet38Send
Cointori

Cointori

Related Posts

Aptos Labs Issues Grant to Blockchain Lab at Cornell University

February 1, 2023

Why Venture Capitalists Won’t Be Held Accountable for Investing in FTX

February 1, 2023

Judge Bans Sam Bankman-Fried From Contacting FTX Employees And Using Signal

February 1, 2023

Bitcoin Little-Changed on Soft Economic Data Ahead of Fed Meeting

February 1, 2023

60 Organizations Launch Campaign Urging US Congress to Protect Privacy

February 1, 2023

Inflows into Crypto Investment Products Hit Highest since FTX Collapse

February 1, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest

Is The Ethereum Merge About To Have A Confirmed Delay?

April 15, 2022

Data Leak At Unchained Capital, NYDIG, Swan & BlockFi. At The Same Time

March 21, 2022

Fantom Foundation Responds To Andre Conje’s Departure

March 6, 2022

The Andy Milonakis NFT Show, EP. 20 – Goat Soup’s Dark Night Of The Soul

April 26, 2022

IRA Financial Breach: Hackers Snatch $36 Million From US-Based Fintech Startup

0

Bitcoin Hash Rate Balloons To Record High — Will Price Go Up As Well?

0

Ethical Blockchain: Are Crypto, NFTs And DeFi Bad For The Environment? Here’s Why They’re Not

0

Mexican Billionaire Says It Again: Buy Bitcoin Today — And Thank Him Later?

0

Aptos Labs Issues Grant to Blockchain Lab at Cornell University

February 1, 2023

Why Venture Capitalists Won’t Be Held Accountable for Investing in FTX

February 1, 2023

Judge Bans Sam Bankman-Fried From Contacting FTX Employees And Using Signal

February 1, 2023

Bitcoin Little-Changed on Soft Economic Data Ahead of Fed Meeting

February 1, 2023

Categories

  • Binance (49,351)
  • Bitcoin (92,194)
  • Business News (97,595)
  • Cardoso (40,842)
  • Crypto News (48,637)
  • Dogecoin (40,842)
  • Ethereum (41,216)
  • Market News (85,507)
  • NFT X Metaverse (40,842)
  • Other alt coins (40,888)
  • Others (2)
  • Shiba in (40,842)
  • Technology News (84,939)

Coin Tori is the #1 Crypto and business blog you can always trust to feed you with the necessary infomation.

Facebook Twitter Linkedin Instagram

Categories

  • Business News
  • Crypto News
  • Technology News
  • Bitcoin
  • Binance
  • Cardoso
  • Other Alt Coin
  • Dogecoin
  • Ethereum
  • NFT X Metaverse
  • Shiba in
  • Market News
  • Others

Tool

  • Crypto Table
  • Exchage Rate
  • Currency Converter

All right reserved - Cointori

Designed By Gentry Stack

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent. Read More
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT
bitcoin
Bitcoin (BTC) $ 23,135.20 0.13%
ethereum
Ethereum (ETH) $ 1,586.31 0.08%
tether
Tether (USDT) $ 1.00 0.19%
usd-coin
USD Coin (USDC) $ 1.00 0.26%
bnb
BNB (BNB) $ 310.56 0.58%
xrp
XRP (XRP) $ 0.403714 0.13%
binance-usd
Binance USD (BUSD) $ 1.00 0.08%
cardano
Cardano (ADA) $ 0.381902 0.64%
dogecoin
Dogecoin (DOGE) $ 0.09165 2.20%
matic-network
Polygon (MATIC) $ 1.10 0.75%
  • Home
  • Currency Converter
  • Business News
  • Crypto News
  • Binance
  • Bitcoin
  • Cardoso
  • Dogecoin
  • Ethereum
  • NFT X Metaverse
  • Other alt coins
  • Shiba in
  • Market News
  • Others
  • Technology News
Menu
  • Home
  • Currency Converter
  • Business News
  • Crypto News
  • Binance
  • Bitcoin
  • Cardoso
  • Dogecoin
  • Ethereum
  • NFT X Metaverse
  • Other alt coins
  • Shiba in
  • Market News
  • Others
  • Technology News