ConstitutionDAO
Crypto Overview
Overview
ConstitutionDAO was created in November 2021 as a decentralized autonomous organization (DAO) with the initial purpose of raising funds to purchase a rare copy of the U.S. Constitution at a Sotheby's auction. While the DAO raised over $40 million worth of ETH, it was outbid at the auction. After the failed bid, the project transformed into a broader community-driven initiative.
Purpose and Utility
The PEOPLE token initially served as a governance token for ConstitutionDAO. After the failed auction bid, token holders were given the option to redeem their tokens for ETH. Those who chose to keep their tokens essentially turned PEOPLE into a community token with no specific utility beyond representing participation in this historic crypto experiment.
Business Model and Operations
Currently, PEOPLE does not have any active business operations or specific utility. The token exists primarily as a traded asset on various cryptocurrency exchanges. There is no lending, staking, or interest-bearing component to the token.
Development and Community Activity
There is minimal development activity as the original project's mission concluded. The community mainly exists through trading activity and social media discussions about the historic attempt to purchase the Constitution.
Token Distribution
The token distribution was relatively fair, with no pre-mine for founders. All tokens were distributed to contributors to the original Constitution purchase attempt. There are no vesting schedules or lock-up periods since the project's original mission has concluded.
Crypto Impact
To assign a comfort level investing in ConstitutionDAO from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to ConstitutionDAO.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.