ConstitutionDAO

About ConstitutionDAO

ConstitutionDAO is a decentralized autonomous organization (DAO) aimed at purchasing a rare copy of the United States Constitution in order to ensure its preservation and accessibility. The initiative was started in November 2021 and was inspired by a similar project that took place in 2021 when a rare copy of the Magna Carta was purchased by a group of individuals using a DAO structure.

ConstitutionDAO operates on the Ethereum blockchain, allowing anyone with an internet connection to contribute to the organization's efforts to purchase and protect the rare copy of the US Constitution. The project has gained significant attention from the media and the broader cryptocurrency community, with many supporters seeing it as a new paradigm for how people can come together to achieve common goals.

The ConstitutionDAO project is an example of how blockchain technology and decentralized organizations can be used for social impact initiatives. The project has the potential to revolutionize the way people organize and pool resources to accomplish shared goals, and it serves as a model for other social impact projects that could be initiated using similar methods.

About $PEOPLE token

The PEOPLE token is the native token of the ConstitutionDAO platform and is used for governance and decision-making within the DAO. Token holders can use their tokens to vote on proposed amendments, elect representatives, and shape the future of the US Constitution. The more tokens a holder has, the more influence they have in the decision-making process. The ConstitutionDAO project gained widespread attention in late 2021 when it raised over $40 million in just a few days, making it one of the largest DAOs in the world. The project represents a new paradigm for democracy, where the power of governance is decentralized and put in the hands of the people.

How to buy $PEOPLE with a payment card

1. Enter the amount of $PEOPLE and fiat currency that you wish to purchase.

2. Verify your phone and email.

3. Enter or create $PEOPLE wallet

You are given the option to enter your $PEOPLE wallet address or create one using the Swipelux widget.

4. Pass KYC flow

This verification process helps protect you from fraud and other malicious activities.

5. You're now ready to buy $PEOPLE with a credit and debit card.

$PEOPLE analytics

1. Market Position and Adoption:ConstitutionDAO (PEOPLE) is a governance token for an experimental decentralized autonomous organization that was formed with the goal of buying a copy of the U.S. Constitution at a Sotheby's auction. Despite its efforts to raise over $40 million in ETH from 17,000+ donors in just a few days, ConstitutionDAO was outbid by a billionaire hedge fund manager and CEO of Citadel, and ultimately disbanded after its unsuccessful attempt. As of February 10th, 2023, the live price of PEOPLE is $0.030373 USD, with a 24-hour trading volume of $36,905,867 USD. The current market cap of ConstitutionDAO is $153,691,564 USD, and it is ranked #183 on CoinMarketCap.

2. Technology and Platform:ConstitutionDAO's platform relied on a mix of Nicolas Cage memes, inspired by a movie in which Cage is trying to steal the Constitution, and the crypto-specific (x,x) meme first popularized by Olympus (OHM). The DAO used Juicebox to receive donations in Ether and collected a sum north of $47 million, which would have easily been enough to win the auction, had it not been for the auction house fees and storage costs for the document that were not accounted for by the DAO. PEOPLE is available on Uniswap (V3) and 0x Protocol.

3. Team: ConstitutionDAO did not have a single source of origin, but can instead be seen as an evolution to the grassroots fundraising movements that led to the rise of meme coins like Dogecoin and Shiba Inu. Key contributors to the DAO were Brian Wagner and Liminal Warmth.

4. Competition: ConstitutionDAO's unique goal and approach make it difficult to compare to other cryptocurrencies or DAOs, but it can be seen as part of a larger trend of internet-based grassroots movements taking on establishment symbols with the help of cryptocurrencies. The DAO ultimately fell short in its mission to buy a copy of the U.S. Constitution, but its impact on the crypto community and its potential for future endeavors cannot be ignored.

5. Supply: There are currently 5,060,137,335 PEOPLE tokens in circulation, with a max supply of 5,060,137,334 PEOPLE tokens. Since a DAO could not own the copy of the Constitution, its contributors would not have received fractional ownership of the Constitution. Instead, PEOPLE is a governance token that would have given its owners voting rights over where the Constitution would have been placed, i.e., which museum would host the physical copy.

$PEOPLE risks

1. Market Risk: Like any other cryptocurrency, the value of ConstitutionDAO (PEOPLE) is subject to market fluctuations and can be affected by various factors such as supply and demand, regulatory changes, and overall market sentiment. As a result, the value of PEOPLE can be highly volatile, and investors could potentially experience significant losses.

2. Liquidity Risk: While PEOPLE is listed on several exchanges, the token may not have enough trading volume to provide adequate liquidity for investors. This can make it difficult for investors to buy or sell their tokens at their desired price, which could lead to significant losses.

3. Regulatory Risk: The regulatory landscape for cryptocurrencies is constantly evolving and can be unpredictable. If new regulations are introduced that restrict or ban the use of cryptocurrencies, it could negatively impact the adoption and value of PEOPLE.

4. Project Risk: ConstitutionDAO is a decentralized autonomous organization (DAO) that was created for a specific purpose – to purchase a copy of the U.S. Constitution. While the project may have attracted a lot of attention, it ultimately failed to achieve its goal. As a result, there may be little reason for PEOPLE to exist or for investors to hold the token in the long term.

5. Smart Contract Risk: PEOPLE is built on the Ethereum blockchain, and its smart contracts are responsible for the creation and management of the token. While the Ethereum network is generally considered secure, smart contracts can contain bugs or vulnerabilities that could be exploited by attackers. If a smart contract vulnerability is discovered in PEOPLE, it could result in the loss of investor funds and damage the reputation of the token.

Potential market development triggers

1. Adoption by Museums: If a prominent museum agrees to host the physical copy of the U.S. Constitution purchased by ConstitutionDAO, this could increase the visibility and credibility of the project, which may attract more supporters and investors.

2. Increase in Crypto Adoption: As more people become interested and invested in cryptocurrency, the demand for projects like ConstitutionDAO could increase, leading to higher prices and more liquidity for the PEOPLE token.

3. Increased Political Awareness: If political events or movements draw attention to the importance of the U.S. Constitution, this could also increase interest in ConstitutionDAO and the PEOPLE token.

4. Continued Innovation: If ConstitutionDAO continues to innovate and expand its offerings, this could help differentiate it from competitors and attract more users and investors.

5. Partnerships with other DAOs: By forming partnerships with other decentralized autonomous organizations, ConstitutionDAO could benefit from network effects and shared resources, which could lead to greater adoption and market growth.

6. Regulatory Support: If there is increased regulatory clarity and support for DAOs and cryptocurrency in general, this could create a more stable environment for ConstitutionDAO to operate in, which could increase confidence and investment in the project.