Tuna Chain is a modular Layer 2 solution that functions on Bitcoin while also integrating with Ethereum. Learn more about how it works in this article.

 is rightfully known for its security through its use of 

 offers greater versatility. Until recently, blockchain projects had to choose between the two. Now, however, a hybrid solution is available that blends the benefits of both of these leading blockchains and takes a bold leap into the future.

 that functions on Bitcoin while also integrating with Ethereum.

) is strongly rooted in elevating the user experience (UX). Bitcoin is the most trusted cryptocurrency, largely due to the recognized strength of its security protocols. However, while it excels in security, it lacks the versatility that ultimately fosters innovation. In this regard, Ethereum is viewed as a superior blockchain. 

Tuna Chain’s modular Layer 2 solution works on Bitcoin through a 

 hybrid layer while offering Ethereum functionality. It uses 

-powered modularity to minimize transaction costs. At the same time, this modularity improves both trust and efficiency. Tuna Chain currently supports Solana, Ethereum and Bitcoin transactions. It works with Bybit, Phantom, MetaMask, UniSat Wallet and OKX Wallet.

Tuna Chain is a new project that was established by three unknown individuals, known under the names of Tuna Nigiri, Tuna Sushi and Tuna Sashimi. Each team member brings their unique experiences and knowledge with blockchain, cryptography and 

 to move Tuna Chain forward. Tuna Chain is financially supported by BSC News, Normie Capital, Serafund, ArkStream Capital, Cogitent Ventures, MH Ventures and other angel investors. After its Ocean Festival and Ocean Trio, Tuna Chain now has over 1.3 million wallets connected on the Tuna Chain Testnet, with a total 

The purpose of Tuna Chain is to bridge the gap between Bitcoin and Ethereum. Although Bitcoin’s chain boasts superlative security, it lacks the versatility that Ethereum’s 

 provides. As a hybrid Layer 2 solution, Tuna Chain’s primary goal is to blend the two. By doing so, its founders want to push the envelope on the future of blockchains and provide a better UX.

Tuna Chain’s functionality is based on three core features: the Toro native 

, Celestia-powered modularity and a hybrid ZK-OP layer. With the Toro stablecoin, users can purchase new digital assets through the overcollateralization of their BTC supply. Meanwhile, Celestia-powered modularity improves data availability, and the ZK-OP hybrid layer executes smart contracts with fast, secure transactions.

Rollup Solutions and Operational Mechanism of Bitcoin Layer 2

Layer 2 solutions similar to those found on Ethereum enhance Bitcoin's scalability, using technologies such as 

 (ZK). Tuna Chain enhances Bitcoin's transaction capacity by integrating optimistic rollup technology into its Layer 2 framework.

Securing Native Assets on Bitcoin: Leveraging Taproot's Upgrade

 upgrade into the Bitcoin network marks a significant advancement in the security of its native assets. This update incorporates advanced cryptographic techniques, such as Schnorr Signatures, MAST and Tapscript. To further secure these assets, Tuna Chain has implemented a multisignature security model and is exploring the addition of external validators to its network security protocols.

Tuna Chain processes transactions through a detailed system that begins with the precise arrangement and execution of transactions. These are then reliably recorded on 

's data availability layer and conclusively verified on the Bitcoin blockchain. Verifiers are essential to the chain's integrity, quickly producing fraudproofs to address any transaction discrepancies and ensure the network remains secure and reliable.

Tuna Chain is a next-level Layer 2 solution that moves blockchain into the future. Each of its core features provides unique benefits to support a superior UX. 

Tuna Chain uses Celestia-powered modularity to optimize its Layer 2 functionality. Specifically, this modularity is supported by Layer 2 data management that enhances trust, improves efficiency and reduces transaction fees.

The ZK-OP Layer is Tuna Chain’s hybrid Layer 2. This layer utilizes a dual-phase architecture that integrates Ethereum’s benefits with those of Bitcoin. By doing so, it empowers smart contracts and accelerates secure transactions.

 is a grand opening event celebrating Tuna Chain’s launch. During this grand opening, the first round of TUN tokens will be distributed. Distribution cap for this initial release is based on 

 growth driven by the community, and could range between 2% and 21%. The token supply increases by 2% as each new milestone is achieved.

, the setup experience for new community members, consists of Calm Waters, Whimsical Tides and Majestic Depths. With Calm Waters, new users can receive 60 points for following Tuna Chain on social media and linking their wallet. Additional points are available by referring friends to Tuna Chain. Whimsical Tides, the testnet phase, is still in development along with Majestic Depths.

In the first quarter of 2024, Tuna Chain successfully completed several milestones, including the launch of the Tuna Testnet — Alpha, Ocean Trio Points campaign, Ocean Festival (which highlights the TVL) and the rollout of the TunaChain Explorer. 

Moving into Q2 2024, progress is ongoing with significant developments. Tuna Chain’s team is currently deploying an optimistic rollup (OP)-based Mainnet, establishing a native bridge from Bitcoin to the Tuna Mainnet, launching a Mainnet decentralized exchange (

), and developing a modular data availability (DA) layer.

Tuna Chain functions with three primary tokens: TORO, TUNA and WOOG. Each serves a different and integral role.

TORO, Tuna Chain’s native stablecoin, helps users transform their BTC into their choice of high-yield digital assets. This is accomplished seamlessly and with full transactional stability. The user doesn’t need to liquidate the BTC to complete the transaction.

 of Tuna Chain, is used for various purposes, such as revenue generation, funding builders and contributors, benefiting token holders, incentivizing users and community members, and promoting community engagement within the Tuna Chain ecosystem.

TUNA has a total token supply of 210,000,000.

 token that acts as the primary ticket into the Tuna Chain ecosystem. Only 200 of 1,000 available WOOG tokens were distributed at the BRC-20 Launchpad event. The remaining WOOG will be distributed only when they’re activated by external forces.

Looking to get your hands on the TUNA token? Bybit will soon offer it via our 

In the meantime, you can also purchase TUNA through 

WOOG tokens grant access to the Tuna Chain ecosystem. Of the total supply of 1,000 tokens, only 200 are currently scheduled to be released. These tokens are exclusively available through the 

. There’s a purchase limit of one WOOG token. While 800 WOOG tokens will remain, they’re sealed, and their release isn’t scheduled. You must have an active Bybit account with a funded wallet to participate in the event. 

TUNA tokens play a fundamental role in governance of the Tuna Chain’s unique hybrid Layer 2 chain, designed to deliver the benefits offered by both Bitcoin and Ethereum. Tuna Chain is presented as the future of blockchain, and is poised to change the blockchain landscape in exciting ways, which could place a premium on TUNA tokens. 

As an investment, TUNA should be purchased conscientiously because the value of the tokens will decrease when additional tokens are released, even for a short period of time. In addition, all cryptocurrencies are speculative in nature, with a risk of partial or complete loss. Therefore, 

 cryptocurrencies before making an investment.

Tuna Chain is a hybrid Layer 2 solution that provides a much-needed service in the blockchain world. By bridging the gap between Bitcoin and Ethereum, it allows users to enjoy the best of both worlds. In doing so, it has the potential to move the dial forward significantly in blockchain technology. Moving forward, Tuna Chain is a platform worthy of attention.

Intermediate

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Tuna Chain (TUNA): Reinventing Bitcoin With a ZK-OP Approach

Notable Ethereum Spot ETF applications have come from high-profile issuers that received approval for Bitcoin Spot ETFs earlier this year. Learn more here.

The cryptocurrency landscape could be on the brink of a major shake-up as several Ethereum spot exchange-traded fund (

) applications await regulatory approval. These financial instruments promise to bridge the gap between traditional investment markets and the fast-growing world of digital assets, offering investors a regulated and accessible means for gaining exposure to 

This article explores the top pending Ethereum Spot ETF applications, exploring their significance, potential impact on the market and implications for the broader adoption of cryptocurrencies.

What Is an Ethereum Spot ETF Application?

An Ethereum Spot ETF application is a filing submitted to regulatory bodies, such as the U.S. Securities and Exchange Commission (SEC), to list an exchange-traded fund that tracks the price of Ether (ETH), allowing investors to gain exposure to the cryptocurrency without directly holding it.

How Does an Ethereum Spot ETF Application Work?

An Ethereum Spot ETF application is a formal request by a financial institution to gain regulatory approval to offer a financial product that tracks the price of Ether (ETH), the second-largest cryptocurrency and the token of the Ethereum network, in real time. 

Investors can participate in the ETF by purchasing shares through their brokerage accounts. This way, they can gain exposure to Ether's price movements without the complexities associated with directly buying or holding the cryptocurrency. The ETF provider assumes responsibility for securely holding the Ether, managing the fund's day-to-day operations and ensuring ongoing compliance with regulatory requirements.

Current Ethereum Spot ETF Application Landscape

, Fidelity, VanEck and ARK 21Shares have all thrown their hats into the ring by submitting applications to the SEC for approval. These particular issuers have previously applied to run Bitcoin Spot ETFs that are currently approved and trading.

However, the SEC has pushed back on the recent Ethereum Spot ETF applications, prolonging the decision-making process. They've also sought public feedback in order to gauge whether the arguments supporting the approval of Bitcoin Spot ETFs are applicable to Ethereum Spot ETFs as well.

Anticipation has continued to build with the approach of the final deadlines for the SEC's decisions, set for between May 23 and Jul 5, 2024 for various applicants. The SEC's review process involves assessing factors such as the potential for market manipulation and the resemblance between Ethereum spot and futures exchange-traded products.

The outcome of these applications holds significant weight, as it could shape the future landscape of cryptocurrency investment vehicles and play an important role in driving broader adoption of Ethereum within traditional financial markets. Investors and observers alike are closely monitoring these developments, recognizing their potential to influence the trajectory of both Ethereum and the wider crypto market.

Top High-Profile Ethereum Spot ETF Applications

Several high-profile financial institutions have applied for Ethereum Spot ETFs, reflecting a growing interest in cryptocurrency investment products. Following is a list of some notable contenders.

BlackRock, a global investment giant and the world’s largest asset manager, submitted its 

 Ethereum Trust, in November 2023. However, the SEC postponed its decision to late January 2024 and again to March. The SEC is currently seeking public comment on the application, particularly concerning Ethereum’s susceptibility to fraud, and has delayed its decision until Jun 11, 2024.

Franklin Templeton, another major player in the investment world, 

 for an Ethereum Spot ETF in February 2024, making it the latest contender to join several other firms in the race. The SEC has delayed the deadline to June 2024 to rule on the firm’s application. If approved, the fund will be listed on the Chicago Board Options Exchange as Franklin Ethereum ETF.

Known for its ETFs and mutual funds, investment management firm VanEck has expressed doubts about the SEC's approval of its Ethereum Spot ETF application, 

 in July 2021. Although the SEC’s decision is expected in May 2024, VanEck’s CEO has voiced his skepticism of approval by the May 23, 2024 deadline, citing the regulators' ominous silence. Notably, VanEck holds the distinction of being the first investment management firm to file an ETH Spot ETF application in the United States.

21Shares specializes in cryptocurrency exchange-traded products (

), while ARK Invest focuses on thematic investing. The two firms 

 for the ARK 21Shares Ethereum ETF in September 2023, with the SEC expected to decide by May 24, 2024. The application has been 

 to include a cash-creation model, and has proposed plans to stake a portion of the ETF’s Ether for generating additional income.

A global asset manager focused on cryptocurrencies, Hashdex 

 with the SEC in September 2023 to list and trade shares of the 

 its decision on the application, with a verdict expected by late May 2024.

Grayscale is the world’s largest digital currency asset manager, with a range of investment products that provides exposure to cryptocurrencies and the digital currency asset class. The firm 

 its Grayscale Ethereum Trust into an Ether Spot ETF in October 2023. The SEC extended the review period, setting a new deadline for June 2024. 

Invesco, an investment management firm, has partnered with Galaxy Digital, a diversified financial services firm, to create a 

 for an Ethereum Spot ETF to be named the Invesco Galaxy Ethereum ETF. The SEC's decision, expected in December 2023, has been 

Fidelity Investments is a major financial services corporation with a global presence and millions of customers. Fidelity first filed for an Ethereum Spot ETF in November 2023. It later 

 its application in March 2024 to include ETH staking, which would allow investors to earn additional income from staking rewards. The SEC has set a deadline of May 23, 2024 to approve or deny the application.

What Could Happen If an Ethereum Spot ETF Application Is Approved?

The approval of an Ethereum Spot ETF application holds significant implications for the cryptocurrency market.

Approval of an Ethereum Spot ETF could mark a significant milestone for the crypto market. It would greatly improve Ethereum's accessibility, bolster market confidence and potentially drive up Ether’s price. In addition, such an approval would represent a new milestone in cryptocurrency adoption, providing investors with a regulated and easy avenue for investing in Ethereum. Nevertheless, regulatory hurdles and market volatility are variables that could influence the timing and magnitude of the approval of the pending applications.

ethereum spot etf applications featured image

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An Overview of the Top Pending Ethereum Spot ETF Applications

Stripe is reentering the cryptocurrency market by allowing merchants to accept payments in USD Coin (USDC) on Ethereum, Solana, and Polygon networks

The SPX index is down 0.46%, influenced by disappointing economic data indicating a slowdown and persistent inflation, along with poor earnings from companies such as Meta Platforms and IBM. The broader cryptocurrency market is up, with Bitcoin and Ether rising by 1.12% and 1.45%, respectively in the past 24 hours.

Today’s outperformer is W, which jumped 16.1% after Wormhole launches Native Token Transfers for seamless W token interoperability across blockchains.

Wormhole (W), launched in 2020, is a cross-chain protocol that facilitates communication and token transfers across over 30 blockchain networks. Originally a crypto bridge between Solana and Ethereum, it has expanded to include features like the Portal token bridge and messaging protocols, serving as a comprehensive platform for cross-chain interactions. Wormhole has launched Native Token Transfers (NTT) to enable seamless transfers of the W token across blockchains like Solana and Ethereum without needing liquidity pools. This innovation supports Wormhole's introduction of a multichain governance system and W staking, enhancing the token's functionality and security across diverse ecosystems. NTT marks a key step in Wormhole's roadmap, advancing its commitment to interoperability and decentralized, flexible token usage.

Check Out the Latest Prices, Charts, and Data of 

Stripe is reentering the cryptocurrency market by allowing merchants to accept payments in USD Coin (USDC) on Ethereum, Solana, and Polygon networks starting this summer. Originally, Stripe accepted Bitcoin in 2014 but discontinued this option in 2018 due to increasing costs. The new initiative will support USDC transactions that are automatically converted to fiat currency for merchants, aiming to enhance global payment accessibility, particularly for those without traditional banking facilities. This marks Stripe's continued interest in the evolving potential of cryptocurrencies.

Bitcoin's price showed volatility near $64,000, influenced by reduced ETF inflows and a market tug-of-war. U.S. inflows slowed, ending a streak for BlackRock’s iShares Bitcoin Trust. Meanwhile, Morgan Stanley may soon enable direct broker recommendations for Bitcoin ETFs, potentially increasing demand. In contrast to U.S. regulatory hesitations, Hong Kong is launching three spot BTC ETFs. Despite these fluctuations, Fidelity Digital Assets remains optimistic, citing an increase in smaller Bitcoin wallets as a positive indicator of broader adoption.

The Aethir Cloud Drop campaign features an airdrop that is accessible through various activities, including purchasing Aethir Checker nodes, engaging on social media, participating in quizzes, referring friends, and being part of certain NFT/token communities. Eligibility for the airdrop is determined by a badge and quest system. More details are provided on their website and Twitter page.

Beginner

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Stripe Reintroduces Crypto Payments with USDC Support on Multiple Blockchain Networks

Merlin Starter (MSTAR) is an IDO launchpad and accelerator dedicated to supporting Layer 2 projects for Bitcoin native asset applications.

Over the last couple of years, projects aiming to develop the wider Bitcoin (

) crypto ecosystem have been gaining more attention in the crypto industry, taking some focus away from 

-based initiatives. With the arrival of projects such as 

, one might even say that the Bitcoin ecosystem is experiencing a kind of innovative development that characterized Ethereum's heyday between 2015 and 2020.

Among the projects driving this phenomenon are Merlin Chain (MERL) and its integral Merlin Starter (MSTAR). Merlin Chain is a Bitcoin Layer 2 (L2) platform committed to supporting utilization and enhanced liquidity for Bitcoin native assets, while Merlin Starter, a Bitcoin-focused 

 and L2 project accelerator, is a core part of the wider Merlin ecosystem,

 (MSTAR) is an IDO launchpad and Layer 2 accelerator dedicated to supporting promising Bitcoin-focused decentralized projects.

 It's an integral part of the L2 Merlin Chain (MERL), designed to facilitate a seamless flow of Bitcoin native assets across various protocols in the Bitcoin ecosystem. Merlin Starter aims to support projects dedicated to enhancing the circulation and liquidity of Bitcoin native assets, both on Merlin Chain and across a variety of Bitcoin-focused protocols and networks.

Founded in 2023, the Merlin project launched its operations in early 2024, with Merlin Starter's native MSTAR token debuting in mid-April 2024.

Merlin Starter is made up of two main components — an 

 launchpad and a Bitcoin Layer 2 project accelerator. Additionally, the 

 NFT collection is a critical element within the project's ecosystem.

The IDO launchpad on Merlin Starter facilitates the launch of projects dedicated to native asset issuance, enhanced 

 and free asset circulation for the Bitcoin ecosystem. It's the first native launchpad of the Merlin platform. The launchpad also supports new projects that explore cross-chain functionality and focus on enabling Bitcoin native assets across different platforms.

As of late April 2024, the launchpad is still in the early stages of its operation, but already lists a couple of initial projects that it’s helped to launch. The most recent of these is Sparkle (FCFS), a gamified astrology app.

The Merlin Starter launchpad offers a number of different token launch modes, including 

, oversubscription lotteries and allocations based on preset weightings. A variety of token standards are supported, including the highly popular 

 and ERC-20 as well as the less common BRC-420, ERC-404 and Atomicals (ARC-20). Standards supporting cross-chain assets may also be available. 

Merlin Starter’s IDO launchpad also features an insurance protocol that helps protect investors from either 7-day or 14-day loss.

While the Merlin Starter IDO launchpad is dedicated to facilitating the launch of new tokens, its accelerator is an initiative aimed at providing consultancy and support to L2 apps and protocols at the pre-launch stage, as well as in the critical post-launch period.

Via the accelerator, the Merlin Starter team offers multidisciplinary consultancy services in areas such as technical support, marketing strategies and initiatives, human resources and 

Merlin's Spellbook is an NFT collection issued by Merlin Starter. Spellbook NFTs grant holders eligibility for a 20,000,000 MSTAR token airdrop, should they choose to stake the NFT. Staking a Spellbook NFT in exchange for MSTAR locks the NFT, and the NFT is subsequently burned. As an NFT staker, you may also qualify (depending upon random selection) for IDO whitelist entries.

At the center of the wider Merlin ecosystem, Merlin Chain is an L2 platform dedicated to enabling cross-chain applications utilizing Bitcoin native assets. Although it operates as a dedicated Bitcoin L2 network, Merlin Chain also offers 

 (EVM) compatibility in order to better support cross-chain use cases.

 network, which allows it to achieve significant scalability and cost efficiencies. The average block time on the chain is less than one second, while the average transaction fee is measured in tiny fractions of a cent.

Merlin Starter's native crypto, MSTAR, is a recently launched token (April 2024) that’s used for the following functions on the IDO launchpad:

The token's maximum and total supply is 1 billion. Supply allocation shares for MSTAR are shown in the chart below.

You can buy the MSTAR token on Bybit through a Spot pair with USDT (

). Additionally, you can join Bybit's MSTAR campaigns to grab a share of the 

The first campaign, MSTAR Community Airdrop Quest, runs through May 10, 2024, 8AM UTC. It’s offering a total prize pool of 8,900,000 MSTAR, featuring a 7,000,000 MSTAR community airdrop, a 1,000,000 MSTAR referral prize pool and an exclusive affiliate referral event with a 900,000 MSTAR prize pool. The second campaign, Token Splash, is being held through Apr 30, 2024, 9AM UTC, with a 2,800,000 MSTAR prize pool.

As a plethora of projects such as Merlin Starter look to extend Bitcoin's functionality, its blockchain is steadily moving away from a passive state of use that’s reserved for asset transfers and storage. Merlin Starter is contributing a great deal to putting Bitcoin native assets to use in various apps and protocols.

While Merlin Chain is doing the critical job of enabling the actual utilization of assets via its Layer 2 network, Merlin Starter is a pivotal endeavor aimed at supporting numerous new projects looking to make Bitcoin a more active crypto environment. The more of these projects we see, the more likely it is that Bitcoin will develop into a thriving ecosystem that could rival Ethereum’s. To achieve such a goal, Merlin Starter is exactly the catalyst the industry needs.

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Merlin Starter (MSTAR): Empowering Startups and Innovation

Bybit Learn

Altcoins

Cult DAO is a DAO focused on sponsoring blockchain-based crypto projects that continue the advancement of the decentralization revolution. Find out more here.

CULT_Tokenomics.png

 is all about revolution. More precisely, it’s about investing in revolution. The anon team driving the Cult network is serious about community and decentralization, and they want to see the collapse of the old financial system. If this sounds interesting to you, you’re in luck. Today, we’re going to jump right into this growing crypto movement by going over exactly what Cult DAO is, how it works, where it’s going, and how it’s fighting for freedom and a decentralized future through innovative solutions.

 revolution, Cult DAO serves to empower people to “break away from societal, economic and other norms.” To do so, Cult provides its users with the support and tools necessary to launch DeFi-oriented projects. In fact, users can actively vote on whether or not to fund 

To help create and sustain a completely decentralized economy, the DAO’s blockchain protocol employs a tradable and liquid token known as CULT. The CULT token powers the Cult DAO organization and fuels its decentralized funding mechanism. Unlike certain deflationary coins on the market, the Cult developers claim the token is not a speculative currency or charity token.

Cult DAO began as a means to revolt and free you and everyone else from the chains that bind us. It began with the realization that we exist today simply as a cog in the system; as a means to no end other than to enrich the central banks by serving an economic function.

The primary focus of central banks is maximum employment. The primary focus for many of us, however, is freedom. Whether it’s from the freedom to decentralize by investing in 

 technology, or the freedom to love who you love, what we all desire more than anything else is freedom. Out of this quest for freedom, Cult DAO was born.

Knowing we all can’t live out in the woods, Cult DAO founder, Mr. O’Modulus, released 

 and launched the autonomous organization in early 2022. In The Cult Manifesto, he mentioned that by launching Cult DAO, the “world’s first completely decentralized token” was made available for “those contributing or building toward a decentralized future.”

The concept of Cult DAO was to become the first completely decentralized funding mechanism to sponsor those eager to contribute to breaking society’s ties. Putting this concept to work involves the transaction and exchange of CULT, the Cult DAO token, in order to continuously provide project funding, pay investors and continuously replenish the treasury.

Mr. O’Modulus discussed this concept in a recent 

"Society is designed to make it as difficult as possible to break away from economic, societal, and social norms. So, what if supporting the $CULT ecosystem could be in itself a full-time or part-time job?"

This concept led to the development of an autonomous, self-governing ecosystem built around rewarding large-scale contributors, called “The Guardians,” and those who contribute at a smaller yet equally important level, known as “The Many.” Any CULT tokens earned can be used for 

According to Mr. O’Modulus, the Cult DAO protocol “exists to allow The Many to not have to rely on wage labor fully, or in part, and to fill the gap and pay users, to further the cause of decentralization and the CULT ecosystem.”

In other words, Cult DAO wants to help users achieve financial freedom by furthering the expansion of decentralization. It seeks to create a revolution by talking about Cult, staking CULT, and creating a decentralized financial ecosystem that permeates popular culture.

Cult DAO takes decentralization seriously. As evidence, the private keys to the funds held within the DAO are not held by DAO members. Instead, the DAO operates independently and is entirely controlled by non-upgradable 

These smart contracts send out 13 ETH investments to each Guardian who submitted a proposal and received a successful 

 vote. To become eligible for funding, a proposal must fulfill the following three criteria:

• Advance the cause of decentralization

Only The Guardians can submit proposals. If a proposal meets at least two of the three conditions, The Many, who comprise the rest of the DAO, can then place their votes on whether to approve the proposals and support investments.

A burning mechanism is also in place to act as an incentive. For every 15.5 ETH raised, 2.5 ETH of CULT is burned. The remaining 13 ETH goes to the cause or protocol of the investee.

The investee token is then redistributed according to the proposal, with full distribution transferred to the CULT token once a day, one a week or whatever the agreed-upon rates of disbursement may be.

The Guardians are Cult DAO’s top 50 individuals who hold the most CULT tokens. As a result of their history staking Cult, they’re given the honorable task of creating, safeguarding and sending proposals to The Many. Since they have larger token shares and pull considerably more weight than other token holders, they can voice their opinions of any sent proposals, but can’t use their wealth to influence others.

From a business perspective, Cult DAO is a venture capital fund, except that it’s decentralized and based entirely on blockchain. Other than that, it works much like a VC fund: Proposals are voted on by the community; community members participate as crowdfunding investors; and the community receives the investment returns as dividends in the form of Cult DAO tokens.

All that said, Cult DAO is no ordinary crypto, DApp or VC fund. It features a blatantly provocative manifesto; a decentralized governance model for proposals and voting; unchangeable smart contracts; and zero private key access. It also features the CULT token, RVLT token, a burning mechanism and more, to take decentralization to the extreme.

Cult DAO is an autonomous self-governing ecosystem designed to reward large-scale contributors — The Guardians — and those who contribute on a smaller yet equally important level.

According to Cult DAO’s governance model, members pledge CULT to receive dCULT that corresponds to voters’ governance rights. The top 50 stakers become The Guardians and are able to make proposals. All other CULT stakers become The Many, who have the right to vote on the proposals forwarded by The Guardians.

dCULT is the proof of staking token for CULT. When staking your CULT into the DAO, you’re granted dCULT, which you can then exchange for the CULT you originally staked. However, as a “thank you” and an incentive for holding dCULT, you’re eligible to receive a portion of the token paid into the DAO.

That’s right. You can only earn dCULT by staking CULT. In fact, staking CULT is the foundation of the whole protocol. Users receive dCULT tokens as a form of security deposit for staking CULT. Redemptions against the original staked amount can be made at any time.

Voting rights or staking rewards are granted only to those who have staked tokens. However, staking doesn’t require the depositing of funds. Each transaction helps advance the project, while each token burn helps reduce and manage the number of coins in circulation.

The token distribution and burn plan facilitates the vesting schedule for the protocol’s token. When The Many accept a project proposal, 13 ETH go to the proposal wallet address and 2.5 ETH are sent to a burning wallet.

On a larger, more general scale, 10,000 tokens are burned for every 60,000 raised. This is combined with a 50/50 redistribution model, in which half of the tokens are redistributed back into circulation and the other half are burned.

As you already know, only The Guardians can submit proposals for a vote. However, proposals can come from anyone, including other community members, venture capitalists, politicians, anarchists and so on, as long as they conform to Cult DAO’s three criteria: All proposals must fight against centralization, advance the cause of decentralization and benefit a noble cause.

In addition, a proposal submitted for voting must also include:

• The total number of investee protocol tokens

• The total supply percentage being offered for a 13 CULT ETH investment

• A token audit and an audit of any smart contracts if created

The concept of revolting against the establishment by furthering decentralization led to the development of an autonomous, self-governing ecosystem built around rewarding those who further the cause. To do so, Revolt 2 Earn (RVLT) was born.

RVLT is the first token of the Cult DAO ecosystem. It was built as a POS (proof of stake) token on the 

 blockchain. While the CULT token funds the accelerating decentralization of the DAO’s protocols, RVLT supports individual Cult DAO users working toward the same goal. This serves the DAO’s belief that individuals, or a small group of like-minded people, can shape their shared vision of the future.

CULT has a maximum supply of 6,667 billion tokens and a market cap of 54.8 million tokens.

With CULT transactions, 0.4 percent of each transaction’s CULT value is sent to the DAO treasury. The treasury places the CULT into a smart contract, which removes the CULT from circulation and releases it back into circulation according to a predetermined maximum level.

As mentioned previously, Cult DAO also destroys 2.5 ETH for every 13 ETH sent to the protocols and employs a 50/50 redistribution model that burns half of the tokens and sends the remaining half to dCULT token holders.

An interesting note about CULT is that when it declines in value against Ethereum, the quantity of CULT to be burned increases. So too does the steady volume of CULT taken out of circulation and placed in the treasury. In other words, the longer CULT remains bearish, the faster it is burned and pulled from circulation.

This means that every time CULT is in the red versus Ethereum, the amount of time needed for it to climb back into the green is reduced. Every sell and potential price drop simply transfers the value from short-term CULT holders to investors with the patience to hold on through the inevitable dips and swells. To put it plainly, the tokenomics of CULT are designed to weather and even profit from the coldest conditions any crypto winter can dish out.

Price forecasts for cryptocurrencies are often wrong due to their volatility. However, according to several reputable websites specializing in crypto price predictions, the short- and long-term outlook for CULT remains steady and strong across the board.

 expects CULT's market value to close 2022 at $0.00002112 and reach $0.00003390 by July 2023. By July 2026, it forecasts the token will reach $0.00005967.

 predicts the token will hit $0.0000204 by the end of this year and $0.0000231 the following year. What’s interesting is that they forecast the price to dip and gain while hovering around this price until 2026, after which they expect the token to climb year after year until it reaches $0.0000827 in 2031.

, on the other hand, is more upbeat. According to the site, CULT will reach $0.0000365 by July 2023 and continue to shoot up to $0.00015 over the next five years. Following this forecast, a $100 investment today should be worth over $1,000 by 2027.

Of course, any price predictions should be taken with a grain of salt. While the general trajectory of CULT seems to be pointing upward, you should study the market and only hold long-term if you have a healthy risk appetite and nerves of steel to weather short-term spikes and dips.

, or any popular crypto exchange with a large user base and decent daily trading volumes.

If you live outside the U.S., you can purchase CULT on Bybit in four easy steps:

When working with a major exchange, such as Bybit, that has access to altcoins like CULT, that’s really all there is to it. There are fewer hoops to jump through, allowing you to invest in decentralization — and freedom — in no time at all.

Whether you invest in Cult DAO depends on your view of DeFi and personal risk appetite. Based on past price history, CULT may drop three percent one day and gain nearly 100 percent in one month. CULT is viewed from a long-term investment point of view, in which short-term losses and gains can be experienced, much like Bitcoin, Ether and other cryptos.

Cult DAO is seeking to fast-forward the upheaval of the global financial system. To do so, they fund revolutionaries looking to do the same. With strict governance and use of CULT, dCULT and RVLT tokens, Cult DAO continues to grow into a strong decentralized community in search of the one thing we all cherish: Freedom.

Cult DAO (CULT): A Fight for Decentralization & Freedom

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards