0x71d53b1d…4f24sent to0x0831172b…d7e7·#21,549,721·view on Etherscan
{"projectName":"Cult DAO tapping into Ethena.fi","guardianProposal":"91131825151989. I am just some guy of no consequence tapping at a keyboard and I am replaceable.","guardianDiscord":"It’s all about the idea – not any one person. I am a nobody, I am not important. The efforts to unmask my \"identity\" even if successful would be underwhelming.","guardianAddress":"Since one could copy any address in here please always verify the Cult Governor Bravo contract on etherscan.io https://etherscan.io/address/0x0831172b9b136813b0b35e7cc898b1398bb4d7e7","shortDescription":"visit https://cultproposal186.tiiny.site/ \n\nTL;DR: Build a massive LP, earn constant fees for the Cult DAO stakers and burn the other half – forever – by targeting volume, not price.\nConstant revenue generation from tapping into the pools and possibilities of Ethena.fi aiming for steady rewards.\n\n75% is going to be actively pooled in ENA/ETH while 25% is held as reserves (stables [USDe], others). These are approximations.\n\nThe proposal is split into two phases: Accumulation & Distribution\n(check sections: outlined return model / proposed timeline or target)\n\nFurther use of the Ethena.fi protocol (e.g. staking/restaking a part of the reserves) and possibilities around it are taken into account and may be used to reach the set target. Risk diversification into other related protocols and pools (e.g. Eigenlayer) are considered when deemed necessary due to market conditions or other (exceptional) reasons.\n\nThe invested amount is split in at least two parts, a low risk (~55%) and a medium risk (~20%) pool. This can adapt to market conditions at any time.\n\nTherefore – and in case of any other exceptional emergency – general allowances for asset management to act in the best interest of the beneficiaries of this proposal will be required and is hereby kindly requested by you. This applies to all related funds and signers of this proposal.\n\nConsiderations about…\n– the risk of Ethena going to dust: possible, but marginal\n– the longevity of Ethena: uncertain, but considered to be ","proposalUpdatesOverTime":"Just read the news about Ethena, it’s all over the place. Later on check the executing wallets, it’s all on public domain and will be actively managed. There will be an announcement when switching phases or ending operations but please keep yourself and your fellow DAO members up to date. – Meanwhile go make a fren or two over there and explore other ways of collaboration(s). ","proposalAllocation":"Single allocation. – But wait, YOU can top it up it if you want to. The more you allocate the more you gain since the operation targets the vast volume of the Ethena ecosystem. Recommendation: One, start small. Two, grow tall. Three, create a little Giant. Just imagine for a moment having that much money generating constant rewards. Start small. Notice: No further proposal planned at the moment.","manifestoOutlinedFit":"By allocating funds into the Ethena Ecosystem, we further the cause of decentralization with our support, contribution and use of the protocol and its tokens.\n\nBy creating a constant distribution of rewards to the Cult DAO stakers – with an equal amount to be burned – we honor all those supporting the fight against centralization and for liberty.\n\nBy supporting Cult DAO and Ethena, you all clearly position against the «mechanisms in place». A noble, albeit hopeless battle. At least for now. This endeavor is meant to aid you in your fight.\n","socialChannel":"https://ethena.fi/\nhttps://x.com/ethena_labs\nhttps://t.me/ethena_labs\nhttps://discord.com/invite/ethena\nhttps://github.com/ethena-labs\nhttps://ethena.notion.site/Ethena-FAQs-3ccc1437e13343f8b74c0d005e4f5128\nhttps://mirror.xyz/0xF99d0E4E3435cc9C9868D1C6274DfaB3e2721341","links":"Website: https://ethena.fi/ Docs: https://docs.ethena.fi/ Transparency: https://app.ethena.fi/dashboards/transparency Github: https://github.com/ethena-labs Custodian Attestations of Assets Backing USDe - December: https://mirror.xyz/0xF99d0E4E3435cc9C9868D1C6274DfaB3e2721341/FHX-LgNXz7JUZLzKzmipz0TVvC3MaxeFlDkKxgRyJOw","projectProposalStage":"Yes, it’s live. Much wow! – Some say the risk to not join is bigger than to join. Read more in this random X-Post: Is Ethena a Systematic Risk to DeFi or its Savior?: https://x.com/DiogenesCasares/status/1870378294400692343 Or here by Dev, published Jan 3: Ethena 2025: Convergence Must read! https://mirror.xyz/0x29a99F7Fe080F72223dAd48D5E1E86670a984326/zM601bYC8Tqhh2Yg5JbWdbwUVFSDBV_aV7ipxHoOFvM","returnModel":"Once target is reached or time passed, whatever comes first, the operations will switch from accumulation to a constant flow of 50% distribution to Cult DAO stakers and 50% burn while always maintaining the value of the underlying investment generating those rewards first, yet only after the reserves would have been fully used. – No exceptions. If at any point in time the proposal will be fully liquidated and/or operations end – due to whatever reason – the full amount (100%) is to be used to buyback CULT and distribute it 50/50 to Cult DAO stakers and burn wallet. Notice: Upon the release of the funds 0.2 ETH will be allocated to cultgaslessrefund.eth (0xDFbBd2a0911707C96E216a22294cc284f9811787) to secure the refunding of DAO gasless voting operations by the Many.","proposedTimeline":"333% (for 10 consecutive days) or 24 months. If 333% is reached in less than 1 year, the signers of the multisig may agree to extend the accumulation phase (to any certain value or time) if there is no objection between them. They can maximally extend the accumulation phase to the initial 24 months. Furthermore there is no timeline to end the operations after switching to distribution phase. The proposal is here to stay and give back to the Cult DAO stakers constantly – forever. Once in a year (in the month of January) the signers of the multisig will reevaluate the continuation – contingencies exempted. Notice: Accounting and target (= 333%) in $ since the amount of tokens will constantly change due to the nature of liquidity providing. Starting point for calculation: 50k (no matter the price of ETH). Further additions and target will be calculated with at least 50k or at (higher) market price. The timeline and/or phases (accumulation/distribution) may be set anew (to be specified when due with follow-up proposals).","fundsStoredHeldUtilised":"Safe Multisig – 0x0AE1235455F92B9784d95b98d5667835098Ee0B1 for strategic reserves/USDe/others, ~25% Threshold 2/3 Signers: 0x1F9d87D431B9584Dc201430cDc0b709449fAF183 0xb4b7CdB5C3D6F910657E82b0793134C480f95f2F 0xf83Cc3968e147468c5Fb7CF56E29ce439b20741e (+ 1 backup signer ready) Single signature wallet – 0x1F9d87D431B9584Dc201430cDc0b709449fAF183 for active asset management, ~75% Every and all operational costs related to the asset management of the proposal are going to be refunded to the signatories from the investment itself. Important Notice: Do not send any other investments to these wallets. Do not mingle funds. If there is absolute urgency, please contact at least 2 signatories and get their agreement before sending anything. Everything that comes our way undeclared (and is safe) will be taken over by the ongoing operations. Additional Information: As you can verify the signers confirmed their involvement with the asset management of this proposal by sending prior confirmation transactions (from Cult-related wallets with a long history of rewarding the DAO, verify them too) to the main execution wallet. The multisig then got created and confirmed by 0x1F9 and the confirmation request got approved by the multisig signatories by sending the transacted amount back.","wallet":"0x1F9d87D431B9584Dc201430cDc0b709449fAF183"}