ConstitutionDAO

ConstitutionDAO (PEOPLE) was a single-purpose DAO that operated in 2021. Its aim was for a community to pool funds and jointly acquire the Constitution at a Sotheby's auction.

The group raised capital and placed a bid at Sotheby's, but it lost the auction. As it had promised, it then made full refunds available to the community. The core team chose to wind the project down, and the organizers state that the DAO completed everything it was set up to do.

The PEOPLE token has no governance function, no rights and no utility. Its only stated use is exchange for ETH through a smart contract held in Juicebox, at 1,000,000 tokens per 1 ETH. This is the same rate that applied to contributions during the original crowdfund. Claiming places a holder's unclaimed tokens in their wallet, while the exchange burns the tokens.

Holders may also keep their tokens, and some community members want to use them in later projects. The team states that it takes no position on any future plans for the token.