On January 5, ConstitutionDAO (PEOPLE) was launched on HotsCoin. ConstitutionDAO (PEOPLE for short) is a decentralized autonomous organization established in November 2021. Its mission is to purchase original copies of the U.S. Constitution. PEOPLE is currently open for trading on HotsCoin.
1.Overview
ConstitutionDAO (PEOPLE for short) is a decentralized autonomous organization established in November 2021 with the mission of purchasing original copies of the U.S. Constitution. Despite losing out to other bids at the Sotheby's auction, ConstitutionDAO became a compelling experiment, attracting global participants as it raised a total of $47 million worth of crowdfunding ETH. This report will delve into the background of ConstitutionDAO, key events, community dynamics, and the market performance of PEOPLE tokens.
2. Token information
Circulation: 5,060,137,334.7 PEOPLE
Total supply: 5,060,137,334.7 PEOPLE
Circulation market value: $128,023,854.916
Fully diluted market cap: $128,023,854.92
3. Key events
November 24, 2021 - ConstitutionDAO announces that it will cease operations despite unsuccessful attempts to acquire an original copy of the U.S. Constitution at a Sotheby's auction.
4.Project background and vision
ConstitutionDAO's vision is to convey Web3's philosophy of collaboration and participation through the purchase of a copy of the U.S. Constitution. Its uniqueness lies in attributing the ownership and management rights of a historical and cultural document to the Internet community, thereby promoting the promotion of Web3.
5. Core team dialogue
The founding members of ConstitutionDAO explained in detail the vision and operating mechanism behind it in a conversation. Participants in the DAO aim to promote the joint efforts of the community through clear ways of contribution. One of the driving forces of the project is to make it easy and transparent for everyone to participate, thereby breaking down the traditional boundaries of social interaction and participation.
6. Market performance
PEOPLE token’s performance in the market has been eye-catching, especially during the recent crypto market upsurge. The price of the PEOPLE token has increased by 125% in the past week. This not only attracted attention but also sparked active discussion in the crypto community.
7. Fundraising mechanism and Juicebox selection
ConstitutionDAO chose Juicebox as its fundraising platform, mainly because Juicebox provides a clear refund mechanism, which is in line with DAO participants’ expectations for fund security. The collaboration between Juicebox and DAO also highlights the collaborative working and co-creation features of Web3.
Community expansion and talent challenges
ConstitutionDAO welcomed more than 100 volunteers from around the world in a short period of time. However, project expansion also brings talent recruitment challenges. Although the Web3 world is full of opportunities, scaling the DAO and attracting more talented individuals is still a matter of concern.
future outlook
ConstitutionDAO is a dynamic and passionate experiment whose success will make a strong case for decentralized autonomy and participatory governance. Future development of the project may involve wider community participation and further promote the development of Web3.
8.Conclusion
ConstitutionDAO is an experiment that pushes the boundaries of tradition, attracting the attention of the global community with its purchase of copies of the U.S. Constitution. Amid PEOPLE token gains over the past week, ConstitutionDAO has demonstrated its strong traction among the crypto community. Although unsuccessful at the Sotheby's auction, ConstitutionDAO has become a model for promoting decentralization, collaboration and co-creation, setting an example for future Web3 development.
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