Buy ConstitutionDAO (PEOPLE)

ConstitutionDAO (PEOPLE) is a Decentralized Autonomous Organization (DAO) established with the goal to acquire a rare copy of the United States Constitution. This ambitious project combines blockchain technology with an innovative model for collective ownership and governance. ConstitutionDAO offered participants the opportunity to pool resources through PEOPLE tokens, collectively placing a bid on one of the only 13 remaining original copies of the Constitution from 1787.

Launched in November 2021, the project quickly captured attention within the crypto community. The concept was simple: utilizing blockchain and smart contracts, ConstitutionDAO made the ownership of a historically significant artifact accessible to a broad audience. This contrasted with the traditional exclusivity of extremely wealthy individuals or institutions.

Although ConstitutionDAO managed to raise over $47 million, it lost the Sotheby's auction to a private buyer who bid $43.2 million. Despite this setback, the project marked a breakthrough in the world of decentralized ownership and demonstrated the power of community-driven crowdfunding.

The PEOPLE token, originally used for fundraising, also serves as a symbol of engagement. Investors could choose to retain their tokens, which later led to the founding of PeopleDAO, a new organization that continued the project. ConstitutionDAO has since become a leading example of how blockchain offers new opportunities for managing and preserving cultural and historical heritage.

Who founded ConstitutionDAO?

ConstitutionDAO was founded by a diverse group of blockchain experts. One of the driving forces behind the project was Trent Griffin, a well-known crypto investor on Twitter, who initiated the idea to purchase the Constitution. The original team consisted of developers, strategists, and marketers, all with experience in blockchain technology and decentralized projects.

After the auction, the founders dissolved the DAO and transferred responsibility for PEOPLE to the community. This led to the creation of PeopleDAO, which is now responsible for managing the PEOPLE token and developing related projects.

ConstitutionDAO offers users diverse opportunities and features:

• Crowdfunding via blockchain: Users can raise funds through PEOPLE tokens for joint projects like acquiring historical objects.
• Fractional ownership: Participants acquire fractional ownership in assets managed by the DAO by purchasing PEOPLE tokens.
• Community governance: Token holders can vote on proposals and collectively make decisions about the organization's direction.
• Preservation of cultural heritage: ConstitutionDAO focuses on protecting and managing valuable historical and cultural artifacts for future generations.
• Incubation of subprojects: Through PeopleDAO, new initiatives aimed at social and technological innovation can be launched and funded.

ConstitutionDAO utilizes blockchain technology and smart contracts on the Ethereum network to facilitate decentralized ownership and governance.

The PEOPLE token is the heart of ConstitutionDAO. This token originally served as a means to raise funds and represents fractional ownership in the assets of the DAO. After the establishment of PeopleDAO, the PEOPLE token became a governance token, allowing holders to submit and vote on proposals. The token has a fixed supply and is somewhat deflationary, as users can redeem it via Juicebox for the underlying ETH.

Governance and decision-making

The management of ConstitutionDAO is based on a liquid democracy model. Token holders can exercise their voting rights directly or delegate them to members with more expertise. Decisions are made through voting procedures on proposals that shape the organization's future. This model promotes a transparent and democratic decision-making process.

Smart contracts and security

The DAO utilizes smart contracts to manage ownership and governance. These contracts automatically execute rules and protocols related to ownership, voting, and finance without the intervention of a central party. Independent audits by Hacken and TRUSTLOOK confirmed the security and reliability of the PEOPLE token contracts.

SubDAO's and incubation

PeopleDAO, the successor of ConstitutionDAO, uses PEOPLE to incubate subprojects such as PandaDAO and LanguageDAO. These subDAOs focus on diverse goals, including open-source development and multilingual communication within the crypto world. The PEOPLE token plays a crucial role, both as a funding mechanism and governance tool.

Decentralization and community

ConstitutionDAO emphasizes decentralization by actively engaging users in management and decision-making. Community members can participate in discussions, submit proposals, and vote through a decentralized system. This results in an inclusive and transparent organization.

The PEOPLE token plays a crucial role within the ecosystem of initially ConstitutionDAO and later PeopleDAO. Initially, the token was used to raise funds for the auction of the U.S. Constitution. This token represented fractional ownership and simultaneously functioned as a governance token, allowing holders to vote on important decisions within the DAO. Although the direct usage rights of the PEOPLE token lapsed after the dissolution of ConstitutionDAO, the token remains a powerful symbol of decentralization and community engagement.

Beyond voting rights, the PEOPLE token plays a key role in the incubation of new projects within PeopleDAO. It is used to fund subDAOs such as PandaDAO and LanguageDAO, which enables the token to contribute to social and technological advancements within the web3 ecosystem. These applications enhance the relevance of the PEOPLE token, making it an important tool for innovation and collaboration.

The maximum supply of the PEOPLE token is set at 5.06 billion tokens. The token is somewhat deflationary, as users can redeem their tokens via platforms like Juicebox for underlying ETH. This mechanism contributes to stability and long-term value retention, enhancing the token's appeal.

ConstitutionDAO stands out with its innovative features and unique approach, giving it a prominent place within the world of Decentralized Autonomous Organizations.

• Crowdfunding for historical heritage: ConstitutionDAO was the first project to utilize blockchain for a joint bid on a historically significant artifact, specifically an original copy of the United States Constitution. This blend of cultural value and technological innovation set a new standard for blockchain usage.
• Focus on collective cultural value: Unlike many other blockchain projects, ConstitutionDAO was not primarily focused on financial gain. The project aimed to democratize access to cultural heritage, with a shared goal that went beyond mere economic profit.
• Unique legacy and inspiration: Although the bid for the Constitution was not won, the project served as an inspiration for numerous other initiatives. It has left a lasting impact on how decentralized ownership is approached and applied.
• Evolution into PeopleDAO: Following ConstitutionDAO's dissolution, the community transformed the project into PeopleDAO. This evolution led to a new model focused on supporting subprojects and enhancing social impact.
• Emphasis on decentralization as a core value: ConstitutionDAO highlighted true decentralization by fully transferring ownership and control of the $PEOPLE token to the community. This remains a strong example of the power and potential of DAOs.

You can buy ConstitutionDAO (PEOPLE) via Bitvavo. Our platform is available for both beginner and experienced users. The purchasing process can be completed in just a few steps:

1. Create an account or log in to your Bitvavo account.
2. Deposit funds into your account using the "Deposit" option.
3. Go to the PEOPLE token page.
4. Enter how much you want to invest in euros or how many tokens you wish to purhcase and click "Buy".

The secure storage of your PEOPLE tokens can be done directly in your Bitvavo account, which uses advanced security protocols. The majority of the funds are stored in offline cold storage, providing optimal protection against cyber attacks. For added security, you can enable two-factor authentication (2FA), requiring you to enter an additional code alongside your password to log in.

Would you prefer to store your tokens in an external wallet? That's possible too. Always ensure that you enter the correct wallet address before executing a transaction via Bitvavo. Both software and hardware wallets support the storage of PEOPLE tokens. By carefully choosing how you store your tokens, you can ensure that your digital assets remain secure, regardless of the storage method.