In the past two weeks, the cryptocurrency industry has witnessed the great power of DAO.
On November 14, 2021, Sotheby’s Auction House plans to auction one of the only 13 official editions of the US Constitution. This copy is one of only 13 official versions of the United States Constitution in the Constituent Assembly. In 1988, the late real estate developer S. Howard Goldman bought it from Sotheby’s for the first time for $165,000. His widow Dorothy Goldman sold it this year and decided to donate the proceeds to the Dorothy Tapper Goldman Foundation.
To auction a copy of the Constitution of the United States, who set up the encryption currency industry DAO organization ConstitutionDAO, 1 ETH : 100 Wan PEOPLE PEOPLE issued tokens in the first few hours of the auction, ConstitutionDAO raised more than $ 49 million by Juicebox Ethernet Square donations.
Unfortunately, ConstitutionDAO ultimately failed to win a copy of the “U.S. Constitution”.
On November 24, 2021, ConstitutionDAO announced that it will cease operations, and its Discord community plans to switch to read-only mode after opening 14 entries, and open its Juicebox funding portal for currency holders to apply for refunds.
ConstitutionDAO stated that in view of the technical and management requirements for the correct implementation of this operation, the core team cannot support the construction and maintenance of the ongoing project. It is believed that this project has come to an end, and there is no time limit for applying for these refunds.
In other words, PEOPLE will operate without a team and completely become a MEME token, and there are 0.000001 ETH behind each PEOPLE as a reserve, which will be the first MEME token based on ETH. If there are token holders redeeming ETH in Juicebox, PEOPLE will also be a deflationary token.
At present, PEOPLE has its own fan community, and its slogans are: PEOPLE or DOGE ? You have a DOGE, I have a PEOPLE; We the PEOPLE Best meme.
It is worth noting that after the open redemption, about half of the PEOPLE was exchanged for ETH by the holders. The total supply of PEOPLE is about 4.44 billion. At a price of 0.012 US dollars, the current market value is about 50 million US dollars.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/constitutiondao-stops-operating-people-or-becomes-the-latest-meme-coin/
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