Constitution DAO is a now-defunct project that was aimed at purchasing the the United States Constitution in November 2021— but this wasn’t an ordinary auction. This was done through a decentralized autonomous organization, which allowed for a number of people in the crypto community to donate money in order to purchase the most important document of American history. The auction was fierce and the project ultimately failed, but not before it made its mark in the Crypto world.
Before, the creation of this organization was proposed, there were a lot of different ideas and suggestions made by the community members on how to create the ideal Constitution DAO. These individuals were web3 enthusiasts, and they came together as a decentralized autonomous organization (DAO).
The project was funded through investors who contributed a staggering amount Ether worth over 40 million USD. However, they were outbid by Ken Griffin, the billionaire hedge fund investor and Citadel CEO.
Following the unsuccessful purchase of one of the most renowned and valuable documents in the United States, the organization decided to disband, and all funds and contributions were refunded.
Who are the Founders of Constitution DAO (PEOPLE)?
Constitution DAO does not have a known origin or owner, or founder. It stemmed from necessity and was seen as an evolution to the very basis of the fundraising movement that significantly boosted the introduction of meme coins.
Although there was no founder, the key patrons of the decentralized autonomous digital yet powerful organization were Brian Wagner and Liminal Warmth.
What is Constitution DAO (PEOPLE) Used For?
The major use of Constitution DAO was to come together to purchase one of the iconic 13 US Constitution documents at an auction. But when the deal fell through, the organization disbanded quickly and returned the funds and donations they got to fund their cause.
It was a decentralized autonomous organization with the sole purpose of getting a copy of the US Constitution.
What is the Unique Point of Constitution DAO (PEOPLE)?
Perhaps, the most unique part of the Constitution DAO. was that it brought a different tone to the crypto world, and it helped in underlining the importance of crypto. According to a trusted source, “it is an internet-based grassroots movement taking on establishment symbols with the help of cryptocurrency.”
It showed how influential crypto has come, and if things had gone differently, this organization would have made history. They published their intent to get the constitution via a tweet just six days before the auction that was scheduled for November 18. The network grew so massively, gaining over twenty thousand followers in just a little over a week.
The money raised by the organization was actually enough to get the US Constitution, but the auction storage costs and house fees were the hindrances the big purchase faced.
How Many Constitution DAO (PEOPLE) Coins are in Circulation?
Constitution DAO (PEOPLE) tokens run on the Ethereum blockchain and have a circulating supply of 5,060, 137, 335 PEOPLE coins and a 5,060, 137, 334 maximum supply.
Is the Constitution DAO Network Secured?
The Constitution DAO platform is an ERC-20 token, and as such, the platform is bound by the same security features as the Ethereum blockchain.
Also. the Constitution DAO project is managed and controlled by the DAO, which avoids a single point of failure.
How do I buy Constitution DAO (PEOPLE)?
You can purchase PEOPLE tokens on popular exchanges such as Binance, Uniswap, and 0x Protocol. To do this, follow the steps below:
- Create a trading account on an exchange or log in if already registered.
- Deposit Fiat into your trading account.
- Buy PEOPLE tokens by swapping with BTC, ETH, or stablecoins such as USDT.
Which Cryptocurrency Wallet Supports Constitution DAO (PEOPLE)?
The PTPWallet platform supports many cryptocurrencies simultaneously, such as Constitution DAO (PEOPLE). Because of its extensive use case, it has grown to become one of the most used platforms as it serves as an exchange and an engine to discover other cryptocurrencies. Additionally, users can easily use PTPWallet as their PEOPLE wallet because it offers a simple and interactive interface making it easy for people to navigate its system.