ConstitutionDAO PEOPLE Price

What is ConstitutionDAO (PEOPLE)?

ConstitutionDAO is a decentralized autonomous organization (DAO) established to purchase a rare original copy of the United States Constitution, which was auctioned by Sotheby's in November 2021. The project aimed to demonstrate the power of collective action through blockchain technology, enabling individuals to pool their resources and make significant purchases as a community. The governance token associated with ConstitutionDAO is called PEOPLE, which allows holders to participate in voting and decision-making processes within the organization. As of 2024, the PEOPLE token has evolved to include various utilities, including governance and access to community-driven initiatives.

Who are the Founders of ConstitutionDAO?

ConstitutionDAO was founded by a group of crypto enthusiasts and developers, the most notable of whom is known by the pseudonym "Llama." The team was composed of individuals from various backgrounds, including finance, technology, and community organizing, which contributed to the DAO's unique approach to fundraising and governance. The collaborative effort of these founders and a vibrant community played a crucial role in raising over $47 million in just a few days to bid on the Constitution. While specific identities were initially kept private, the movement has fostered a sense of transparency and inclusivity within the crypto community.

How does ConstitutionDAO Work?

ConstitutionDAO operates on the Ethereum blockchain, utilizing smart contracts to facilitate governance and fund management. Participants can purchase PEOPLE tokens by contributing funds to the DAO, which then allows them to vote on proposals and decisions regarding the organization's activities. The DAO's structure enables collective decision-making, where each token holder's voting power is proportional to the number of tokens they own. After the auction, the DAO was set up to manage the constitution and potentially allow for fractional ownership, enabling token holders to gain access to the historical document and participate in its preservation and display. Additionally, ConstitutionDAO has established a set of governance protocols for ongoing community engagement and decision-making.

Top Use Cases of ConstitutionDAO

ConstitutionDAO has several notable use cases, including:

• Collective Ownership: By pooling contributions, participants can collectively own significant historical artifacts, democratizing access to such assets.
• Decentralized Governance: The DAO model allows token holders to vote on future acquisitions, modifications to the DAO's structure, and community initiatives.
• Community Engagement: ConstitutionDAO fosters a sense of community among its members, encouraging collaboration and participation in cultural preservation efforts.
• Educational Initiatives: The DAO can engage in educational programs around the U.S. Constitution and the importance of civic engagement, leveraging its platform to promote awareness.
• Fractional Ownership Models: Future plans may include exploring fractional ownership of other historical documents or artifacts, allowing broader participation in high-value assets.

How to Keep your ConstitutionDAO Safe?

To ensure the safety of your ConstitutionDAO holdings, consider the following best practices:

• Use Hardware Wallets: Store your PEOPLE tokens in a hardware wallet to protect them from online threats and hacks.
• Enable Two-Factor Authentication (2FA): Utilize 2FA on all accounts related to your cryptocurrency holdings to add an extra layer of security.
• Be Wary of Phishing Scams: Always verify the authenticity of communication and links before entering sensitive information related to the DAO.
• Regularly Update Software: Keep your wallet software and any applications you use for trading and holding tokens up to date to mitigate vulnerabilities.
• Educate Yourself: Stay informed about the latest security practices in the crypto space and understand the risks associated with DAOs and cryptocurrencies.