Cult.DAO has reached out to us because they are interested in spinning up a RegenFarm! In this post, I will outline the details of their DAO & the RegenFarm they are wanting to launch, and we can decide if we’re game!
Intro to CULT
From their website, the purpose of CULT is “to empower and fund those building and contributing towards our decentralized future”. Here is their Twitter and $CULT on coingecko. According to coingecko their market cap is around $80M.
In our typeform, they described the DAO as follows:
Our DAO is anon founded and focused on pushing decentralization, paradigm shifting, or disruptive projects that will improve the lives of many. A simple, immutable DAO mechanism, and proposals worth 13 ETH.
Net postiive externalities (from their answer in typeform):
The DAO can fund anything supported by the Many, which allows the DAO to fund things that may not receive investment elsewhere. The DAO is intended to take social impact into account in ways that traditional organizations will not.
RegenFarm Details
- They want to spin up a CULT/ETH Univ2 RegenFarm on Mainnet.
- There are interested in supplying 26ETH-worth of $CULT to reward their liquidity providers.
- The $5k + 2% for donation-eth & our liquidity multisig would come our of that 26 ETH
Proposal Process on the CULT side
Their gov process, from their typeform answer:
There is a proposal process that must be initiated by a Guardian (top 50 token holder/staker). Guardians cannot vote, so proposals are offered for a decision by the Many. Each proposal passed will release 13 ETH in the CULT token from the treasury.
So two proposals would need to be passed to supply 26ETH for their RegenFarm. Kris (formerly of Commons Stack) is leading the charge on the CULT side and is able to create proposals. He can make one every 5 days. He has initiated the RegenFarms discussion in their discord and so far, all the terms seem amenable to the CULT community. It would, however, need to go up for a vote before we can start building.
Proposal Process on the Giveth side
As discussed in our recent GIVeconomy dev WG call proposals for new RegenFarms should get Giveth community approval via a Snapshot Vote. The advice process will be expedited to just 1 day before the vote goes up because for RegenFarms, there is not a lot of debate or consideration that is expected. So! I will create the vote and link it here tomorrow after a 24 hr advice process.
Open to any thoughts, questions, comments or concerns here!
