The Machine · Value flows
CULT’s economic engine as flow magnitudes — every ETH that bought or sold CULT on the pair, every token invested or burned, and what the treasury holds. All-time cumulative, re-derived on-chain. These are how much moved each way, not a balance sheet.
The finding
Buys — ETH in
192,138 ETH
≈
Sells — ETH out
191,990 ETH
Across 221,625 swaps, cumulative buys and sells are within 0.08% of each other — a net of +148 ETHover four years. The treasury and the burn aren’t funded by people buying more than they sell; the market nets to roughly zero. They’re funded by the 0.4% tax skimmed on every swap and by CULT’s price appreciation. That’s the engine — not a buy/sell imbalance.
The flow
The Market · Uniswap V2 CULT/WETH
ETH
0.4% tax on every swap feeds the treasury
The Machine · Protocol treasury
CULT
376.01B to external projects + 160.71B returned to dCULT stakers.
All-time CULT sent to the burn wallets — the 0.4% tax burn plus proposal-payout burns, compounding since launch.
Read this honestly
Two units, never mixed. The market flows (buys/sells) are in ETH — native to the swaps. The protocol flows (invested, burned, treasury) are in CULT tokens— that’s how they’re verified on-chain. ETH and CULT are not the same unit and are never added together here. No today’s-price conversion is applied, because these flows happened over four years at wildly different prices.
Flow magnitudes, not a balance sheet.AMM value is not conserved: buys ≠ sells + treasury + burns. Price changes, the 0.4% tax, and liquidity dynamics all move value in ways a simple in/out ledger can’t capture. This page shows how much moved each way — not a reconciled equation.
Buys/sells: all-time Swap events on the CULT/WETH pair (0x5281…EFe6), WETH leg summed by direction — committed baseline through block 25,683,573 plus a live incremental scan. Investments & burns reuse the verified funded-proposals and token-burn pipelines; treasury holdings are read live. Data through block 25,827,757. Built Aug 24, 2026, 11:04 PM UTC.
