Why we support CULT.DAO

THE Tao

“The Tao (pronounced dao and often spelled like that) is one of the oldest concepts from antiquity that have survived to the present day. Emerging from the mists of ancient Chinese tradition, it is translated literally as ‘way’ or path’. The ancient conception of the inscrutable Tao is about as far away as you can get from the grindingly busy, technology-based civilization that has come to dominate our world.” – ‘The Web of Meaning’ by Jeremy Lent.

Could the ‘DAO’ provide a ‘way’ or ‘path’ for modern society to utilise technology in a way that advocates truth & fairness…

“It represents a way of living in the world that feels like a refuge from the bleak glare of modernity – an invitation to come home again, to leave behind the cacophonous discord of a meaningless rat race and find solace in deep universal truths.”

Is CULT.DAO an invitation to ‘come home again’, for the MANY who feel forgotten & left behind by the FEW – ‘a home for the all singing all dancing crap of the world’…

Either way, you cannot deny its rise in popularity over the past year. We’re here, however, to try and break down the reasons WHY it might have resonated the way it has and gained so much traction.

Maybe it’s having an anonymous creator, like Bitcoin has Satoshi… maybe it’s the ‘number-go-up tokenomics’… or maybe it’s simply the fact that deep down people know truth & fairness and feel CULT.DAO is here to promote that. It could, of course, be a combination of all these factors (& more), but we will focus on those mentioned.

ANON

Like Bitcoin, it was was started by an anonymous individual. This individual has tried politics, on both sides, only to be frustrated by.. well yeah the politics. This time though, they seem to have rallied the troops with their honesty & compassion.

Also like Bitcoin, it is designed to be true, pure, decentralisation. The keys are burnt & contract non-upgradeable. There will be ‘no human interference beyond what has been coded for it to be influenced by ie. votes from its holders’. It cannot be stopped by any individual or organisation. As long as the physical network remains, along with the Ethereum blockchain (or whatever chain it decides to run on), the code of CULT.DAO will live on!

NUMBER-GO-UP

If we take a look into the tokenomics of the protocol, although $CULT is swapped for $ETH when a proposal is funded, causing a slight sell pressure on $CULT (albeit with a 2.5/15.5 $CULT-ETH burn), this $CULT is eventually bought back over the vesting period. The smart move here however, is rather than the DAO receiving back the funded project’s $TOKEN, they get swapped back for $CULT. Of this, 50% is burnt (which results in a reduction of total supply) + 50% gifted back to stakers, thus causing a reduction in circulating supply through staking incentives. This is exactly the kind of hyper-deflationary economics that is intended to be a protest against the inflationary economics experienced in our current centralized system.

TRUTH

This brings us onto another major catalyst for its rise in popularity – the COVID-19 ‘pandemic’. People are more intuitive than they [sometimes] give themselves credit for. The MANY were told to ‘stay at home’ for their own good, whilst the FEW dished out ‘free money’. The inflation of money supply was serviced by immense ‘debt’ which, as we’ve since witnessed, has later been coupled with price inflation. This is partly due to supply shortages because, you guessed it.. a shortage of labour… ! During this whole time, the FEW were able to carry on ‘working’ & get richer from the comfort of their own reclining armchair.

Of course, those most affected by [price] inflation, are the MANY… Enter CULT.DAO! … A [decentralized] organisation fighting against the [centralized] FEW.

Science philosopher Thomas Kuhn writes, “when an old worldview no longer works and is upended by a new pattern of meaning, the old guard can sometimes appear stubborn and pigheaded if they feel their lifelong career accomplishments are at stake”. He describes this transition as a paradigm shift.

CULT.DAO are here to provide this ‘new pattern of meaning’, uniting the MANY putting their ‘bodies upon the gears and upon the wheels’ of this ‘old worldview’.

This is just one of the reasons we’re big supporters of CULT.DAO here at D3CONOMIST, because they, like us, are here ‘to empower & fund those building & contributing towards our decentralised future’.

The revolution will not be centralized-

READ THE MANIFESTO

On auction soon…

1/1 [OG] CULT-D3CONOMIST - an honorary Sons of Crypto x D3CONOMIST NFT… All earnings will be reinvested in Cult DAO and shared as prizes with followers of @wearecultdao and @D3CONOMIST.

This article was written & published by D3CONOMIST. Special thanks to Cult Dao for their support.

About D3CONOMIST

D3CONOMIST is a publication, network & launchpad on the hunt for the next big innovation Web3. We’re launching the D3CONOMISTS NFT for exclusive access to our network, launchpad & more. The launchpad will give holders opportunities to invest in cutting edge projects at seed round prices. As a team, we’ve been involved in Crypto / Web3 for over a decade now and have established some strong connections in the space. As such, we already have some well backed projects who are looking to launch with us.

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