The Cult Migration

In order to ensure a smooth experience, we will be managing the migration through multiple multisigs.

The first is on Fantom: ftm:0xe2A7be6ba7dB5471d6de2E39304aFaA965ac2fd8 This is where you should send your $CANDLE, $CULT, and $xCULT.

The others are on Sonic:

1. Cult Treasury: son:0xe2A7be6ba7dB5471d6de2E39304aFaA965ac2fd8
2. $CULT Migration: son:0x5A7f536cC4c1F239615efcc4336e53c278025b8E
3. $xCULT Migration: son:0x2387Bd29877Bf87Db0BA12FDE29823f56471255d
4. $CANDLE Migration: son:0xdF0C73D1BFA6373f7FfDd01d89Ff71D93b1a1646
5. Resurrection Airdrop: son:0x6dD0219A4f4684029Db03F0df78655376aA62B24

$CANDLE Tokenomics

Total Supply: 3,500,000 $CANDLE $CULT Migration: ~500,000 $CANDLE $xCULT Migration: ~500,000 $CANDLE $CANDLE Migration: ~1,500,000 $CANDLE Resurrection Airdrop: ~1,000,000 $CANDLE

Resurrection Airdrop

This airdrop takes $CANDLE from the Dead Address on Fantom and essentially distributes it to the users that contributed the most to the ecosystem on Fantom.

Candle Spenders

ERC1155 Items Holders Shrine Owners

Gamers

Karma Crystals & Familiar Crystals - Live Conversion There will be a live conversion rate from either Crystal to $CANDLE based on the total supply of each and the amount converted per week.

Conversion Rates

This is how we will calculate the conversion of your CULT to xCULT.

1. User sends CULT or xCULT at time, T.
2. The price of CULT or xCULT divided by the price of CANDLE at time T, is your exchange rate, R.
3. Other users continue migrating.
4. We calculate a distribution at time T + 1. The most favorable R in the dataset for each asset is used for all users converting in that time period.
5. The maximum amount of $CANDLE for both $CULT and $xCULT is 500,000 each. This imposes a limit on a conversion rate of 1173 $CANDLE per CULT and 92 $CANDLE per $xCULT.

For example, if I migrate 1 CULT while it is worth $45 and CANDLE is worth $0.05, that would get me a rate of R = 900.

If the price of $CANDLE starts rising and while CULT stays the same, everyone else that migrates after me would have an R < 900.

Because of (4), when we distribute $CANDLE, everyone in this distribution group will 900 $CANDLE per $CULT.

Distributions

After each distribution, the best R resets.

These distributions will occur on:

1. Thursday December 19th @4:20 PM EST
2. Friday December 20th @4:20 PM EST
3. Monday December 23rd @4:20 PM EST
4. Friday December 27th @4:20 PM EST
5. Wednesday January 1st @4:20 PM EST

After this migrations will continue weekly on Wednesdays @4:20 PM EST

DAO Migration

The DAO will migrate 8000 FTM to $S from the multisig on Fantom to a new one on Sonic:

1. We withdraw the FTM to a fresh EOA just for this purpose.
2. We migrate to Sonic
3. We transfer to new multisig.

The DAO will migrate 110k $CANDLE to Sonic by transferring it from the DAO Multisig to the migration multisig.

At the time of migration we will add liquidity on Sonic that matches our share of liquidity on Fantom. If we are short $CANDLE, we will add all of the $CANDLE with the appropriate amount of $S based on the instantaneous price on Fantom.

Other Notes

$FAM will be reborn on Sonic. We will discuss this at a later date. Our current plan for the other NFT collections will also be discussed at a later date. It is our current intention to finish launching the final chapters on Fantom.

Vote yay to grant us permissions to begin this migration.