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ConstitutionDAO FAQ
ConstitutionDAO is a decentralized autonomous organization formed to bid for the rare physical copy of the U.S. Constitution at Sotheby's. PEOPLE is the name and ticker symbol of ConstitutionDAO's native governance token. The DAO was dissolved after it lost the auction.
ConstitutionDAO distributed PEOPLE tokens, their native governance token, in exchange for the donations received to bid for the physical copy of the U.S. Constitution at Sotheby's. To enable this, the DAO partnered with a non-profit called Endaoment to take custody of their documents and bid on their behalf.
Easily buy PEOPLE tokens on the OKX TR cryptocurrency platform. Available trading pairs in the OKX TR spot trading terminal include PEOPLE/USDT.
You can also buy PEOPLE with over 99 fiat currencies by selecting the "Express buy" option. Other popular crypto tokens, such as Bitcoin (BTC), Tether (USDT), and USD Coin (USDC), are also available.
Alternatively, you can swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for PEOPLE with zero fees and no price slippage by using OKX TR Convert.
To view the estimated real-time conversion prices between fiat currencies, such as the USD, EUR, GBP, and others, into PEOPLE, visit the OKX TR Crypto Converter Calculator. OKX TR's high-liquidity crypto exchange ensures the best prices for your crypto purchases.
Dive deeper into ConstitutionDAO
ConstitutionDAO was a decentralized autonomous organization (DAO) created to buy one of the 13 remaining physical copies of the Official Edition of the U.S. Constitution, auctioned at the premier auction house, Sotheby's. PEOPLE is the name and ticker symbol of ConstitutionDAO's token.
Started initially as a meme, ConstitutionDAO raised $47 million from 17,437 donors with a median donation size of $206.26. The DAO set the record for the highest crowdfund in less than 72 hours. They then formed a non-profit called Endaoment that could bid at Sotheby's on their behalf.
The ConstitutionDAO crowdfund was held via Juicebox, ConsitutionDAO's crowdfund partner. People who participated in the crowdfund were awarded PEOPLE tokens. If ConstitutionDAO had won the auction, PEOPLE holders could vote on proposals related to the purchased copy of the constitution.
However, since the DAO lost the auction, it is now officially dissolved. The multi-signature wallet burned the project's NFTs and its owner no longer has control over the collected funds. Participants can receive refunds, minus the gas fees, through the PEOPLE token.
PEOPLE price and tokenomics
You can redeem your donated funds in exchange for Ethereum (ETH) at a 1 ETH:1,000,000 PEOPLE ratio from Juicebox by paying the required gas fees. Redeeming your donations will burn PEOPLE tokens. PEOPLE price has been largely consistent and the community has plans to expand its use further.
About the founders
ConstitutionDAO was created in November 2021 by software engineer Jonah Elrich, one of the core contributors of the DAO, along with around 30 other people. It partnered with Alameda Research, Endaoment, FTX US, Juicebox, Morning Brew, and SyndicateDAO.
ConstitutionDAO: The road ahead
Some ConstitutionDAO members have sought to build other projects. For example, some members are developing a digital version of the Constitution that anyone can freely access, while others are keen on creating a curriculum to teach about the Constitution in schools. Apart from that, some are exploring the possibility of using blockchain technology to create a new way for people to participate in democracy.
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