ConstitutionDAO
ConstitutionDAO
PEOPLE
ConstitutionDAO Timeline
ConstitutionDAO Token allocation
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- Aug 28,2024The short film was officially released, serving as a retrospective on ConstitutionDAO's journey, illustrating the rapid mobilization of a decentralized community to raise significant funds within days. The documentary also serves as a reminder of the potential of DAOs to achieve shared goals, even in the face of challenges
- Aug 27,2024Ethereum Stories announced the release of a short film titled "ConstitutionDAO: An Ethereum Story," which was set to premiere the next day. This documentary aimed to tell the "crazy story" of how thousands of people united to try to purchase the U.S. Constitution, highlighting the power of decentralized communities and collective efforts. The short film provides a 7-minute overview of the event and its implications.
- Jun,2023The PEOPLE token maintained a strong community following, being used in multiple DAO discussions and governance experiments.
- Mar,2023ConstitutionDAO was recognized in various blockchain conferences as a pioneering experiment in decentralized collective action.
- Apr,2022PEOPLE's trading volume exceeded $500 million, solidifying its position as a cultural and speculative asset within the crypto ecosystem.
ConstitutionDAO Info
- Aug 28,2024The short film was officially released, serving as a retrospective on ConstitutionDAO's journey, illustrating the rapid mobilization of a decentralized community to raise significant funds within days. The documentary also serves as a reminder of the potential of DAOs to achieve shared goals, even in the face of challenges
- Aug 27,2024Ethereum Stories announced the release of a short film titled "ConstitutionDAO: An Ethereum Story," which was set to premiere the next day. This documentary aimed to tell the "crazy story" of how thousands of people united to try to purchase the U.S. Constitution, highlighting the power of decentralized communities and collective efforts. The short film provides a 7-minute overview of the event and its implications.
- Jun,2023The PEOPLE token maintained a strong community following, being used in multiple DAO discussions and governance experiments.
- Mar,2023ConstitutionDAO was recognized in various blockchain conferences as a pioneering experiment in decentralized collective action.
- Apr,2022PEOPLE's trading volume exceeded $500 million, solidifying its position as a cultural and speculative asset within the crypto ecosystem.
ConstitutionDAO Intro
ConstitutionDAO was a decentralized autonomous organization (DAO) created in November 2021 with the purpose of purchasing an original copy of the United States Constitution at an auction held by Sotheby’s. The group aimed to leverage blockchain technology and the power of collective action to make a historic acquisition. ConstitutionDAO used Ethereum to allow individuals from around the world to pool funds in exchange for governance tokens, known as $PEOPLE.
The project gained massive traction online, raising over $47 million in just a few days through contributions from around 17,000 participants. Despite the impressive fundraising effort, the DAO was ultimately outbid at the auction by a private buyer, who was later revealed to be Citadel CEO Ken Griffin.
Although ConstitutionDAO did not succeed in purchasing the document, the initiative showcased the potential of decentralized, internet-native communities to organize and raise funds quickly. After the auction, the DAO decided to disband, and contributors were offered the option to receive refunds. However, $PEOPLE tokens were retained by some holders as a symbol of their involvement, and the token itself continued to have a life beyond the project, gaining traction within the crypto community as a meme coin.
The legacy of ConstitutionDAO is seen as a milestone moment in the blockchain space, highlighting how decentralized technology can be used for crowdfunding and collective governance, even if the original mission was not fulfilled.
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ConstitutionDAO was a decentralized autonomous organization (DAO) created in November 2021 with the purpose of purchasing an original copy of the United States Constitution at an auction held by Sotheby’s. The group aimed to leverage blockchain technology and the power of collective action to make a historic acquisition. ConstitutionDAO used Ethereum to allow individuals from around the world to pool funds in exchange for governance tokens, known as $PEOPLE.
The project gained massive traction online, raising over $47 million in just a few days through contributions from around 17,000 participants. Despite the impressive fundraising effort, the DAO was ultimately outbid at the auction by a private buyer, who was later revealed to be Citadel CEO Ken Griffin.
Although ConstitutionDAO did not succeed in purchasing the document, the initiative showcased the potential of decentralized, internet-native communities to organize and raise funds quickly. After the auction, the DAO decided to disband, and contributors were offered the option to receive refunds. However, $PEOPLE tokens were retained by some holders as a symbol of their involvement, and the token itself continued to have a life beyond the project, gaining traction within the crypto community as a meme coin.
The legacy of ConstitutionDAO is seen as a milestone moment in the blockchain space, highlighting how decentralized technology can be used for crowdfunding and collective governance, even if the original mission was not fulfilled.