What is ConstitutionDAO (PEOPLE)?
ConstitutionDAO was a crowdfunding drive to purchase a first edition copy of the US constitution. PEOPLE is the token representing a share of ConstitutionDAO. Since the bid for the document failed, the PEOPLE token now represents a DAO move of historical significance.
There is currently no clear use case for the PEOPLE token as the founding team chose to shut down the project and burn their multi-sig that controls the funds raised.
Therefore, no more PEOPLE tokens can be minted. PEOPLE holders will always have the opportunity to convert 1,000,000 PEOPLE tokens into 1 ETH.
Several community-based DAOs have emerged that claim to use the PEOPLE token as the native token of their projects. Notable ones are:
PeopleDAO: A DAO governed by the PEOPLE token and aimed at maximizing the interests of PEOPLE holders. A Snapshot ballot was created to launch the DAO with a high voter turnout of approximately 645 million PEOPLE tokens (12.8% of the circulating supply).
PEOPLE@BTCdayu: A community DAO created by a Chinese crypto influencer. The tentative roadmap includes the launch of NFTs and a DEX.
