MOONER-0.07%
$0.00462
BTC+1.77%
$17 321
ETH+2.99%
$1297.7
BNB+1.83%
$295.20
Blog|Defi|Cult DAO Is Building Its Own Chain
Published October 24, 2022|1 min read

Cult DAO Is Building Its Own Chain

$CULT, an ETH chain token, has announced it will be making its very own zk-EVM blockchain powered by $CULT, as told in their official Medium page.

Their developers will be bridging their $CULT across the chain to add liquidity, and every transaction & contract deployment build will be done using and burning $CULT tokens.

The ERC 20 $CULT and POS 20 RVLT will be able to be bridged across the new chain to power the network. Since the build is happening on the ZK blockchain, their goal is to allow users to opt-in or out of sending their contract interactions to a block explorer, meaning that it will be up to the users if they decide to be transparent or not.

What is CULT?

The purpose of CULT DAO is to empower and fund those who are building and contributing towards a decentralized future. CULT provides funding to people with great ideas for improving the world of DeFi. You can stake your CULT tokens into the DAO and then vote with dCULT, the name of the staked CULT tokens. When investee protocols tokens vest, having dCULT allows users to claim the rewards sent to the DAO.