ConstitutionDAO

ConstitutionDAO (PEOPLE) was a decentralized autonomous organization (DAO) aimed at purchasing an original copy of the U.S. Constitution. Despite raising $47 million in Ether, the DAO lost the auction. Following this, the project was concluded, and the PEOPLE token was distributed to contributors as a certificate of their donation. The token now exists without official utility or governance rights, but parts of the community have expressed interest in incorporating it into future projects.

• Total Supply:

• 5.07 billion PEOPLE tokens.

• Circulating Supply:

• 5.07 billion PEOPLE tokens, matching the total supply.

• Redemption:

• Tokens can be redeemed for ETH at a 1 ETH: 1,000,000 PEOPLE ratio.

As of today #{today’s date}, the price of ConstitutionDAO is ₹4.02 INR or 0.04416 USD, with a 24-hour trading volume of 105005756.39 USD. The market capitalization for ConstitutionDAO is 230426306.49USD. The circulating supply is 5060137334.7 ConstitutionDAO, with the total supply also being 5060137334.7 ConstitutionDAO.

Pros:

• Historical Significance:

• Being part of a significant crowdfunding event represents a unique moment in crypto history.

• Community Support:

• Has a dedicated community interested in finding new utilities for the token.

• Redemption Option:

• Holders can redeem tokens for ETH, providing a form of inherent value.

• Decentralized Origins:

• Born from a decentralized movement, embodying the ethos of blockchain and community governance.

• Potential for Future Projects:

• The community’s interest could lead to innovative uses and increased demand.

Cons:

• Lack of Official Utility:

• Beyond redemption for ETH, the token has no official use cases.

• Project Conclusion:

• The original purpose of the DAO has been fulfilled, and the core team has disbanded.

• Market Volatility:

• PEOPLE tokens are subject to high market volatility, as with many cryptocurrencies.

• Uncertain Future:

• Without a clear roadmap, the token’s long-term value is speculative.

• Regulatory Risks:

• The evolving regulatory landscape for cryptocurrencies could impact the token’s viability.

• Part of Crypto History:

• Ownership of PEOPLE tokens ties you to a notable event in the crypto world.

• Community Potential:

• The active community may develop new projects that increase the token’s value.

• Redemption Value:

• The ability to redeem tokens for ETH provides a baseline value.

• Speculative Growth:

• Interest in the token could lead to speculative growth as new utilities are explored.

• Decentralization and Innovation:

• Investing supports the ethos of decentralization and innovation within the crypto space.

• Historical Significance:

• The token represents a pioneering effort to use DAOs for publicly crowdfunding physical assets.

• Redemption Mechanism:

• Unique among tokens, PEOPLE can be redeemed for ETH, providing a tangible link to its crowdfunding origins.

• Community-Driven Future:

• The token’s future is in the hands of its community, offering a decentralized approach to finding new utilities.

ConstitutionDAO aimed to demonstrate the power of decentralized finance and collective action in purchasing significant historical artifacts. Although the auction was lost, the project showcased the potential for DAOs to mobilize resources quickly and transparently.

The specific founders of ConstitutionDAO are not known, but it was initiated by a group of blockchain enthusiasts and gained widespread community support.

• ICO Price:

• $0.049 per PEOPLE.

• Listing Date:

• 27th November 2021.

• Tokens Sold:

• 5.06 billion PEOPLE.

• No Official Utility:

• The token currently lacks a defined purpose or utility.

• Project Conclusion:

• The original DAO’s mission has ended, and the core team has disbanded.

• Speculative Nature:

• Future value is highly speculative and dependent on community initiatives.

• Regulatory Uncertainty:

• Changes in cryptocurrency regulation could impact the token.

• Market Volatility:

• Like all cryptocurrencies, PEOPLE is subject to market fluctuations.

The whitepaper of ConstitutionDAO has yet to be published.