ConstitutionDAO

The DAO constitution was an experiment that has now been dissolved. In November 2021, a group of web3 enthusiasts came together as a decentralized autonomous organization with the common goal of buying a copy of the US Constitution at Sotheby's. There are only 13 original physical copies of the US Constitution, meaning this auction has sparked a competitive bidding battle. Although the group managed to raise over $40 million in ETH, it ultimately failed and was outbid by Ken Griffin, a billionaire hedge fund manager and CEO of Citadel.

The DAO Constitution announced its dissolution after a failed attempt to buy one of the most valuable and iconic documents in US history. All donations are returned.

The DAO constitution did not have a single source of origin, but instead can be seen as an evolution of grassroots fundraising movements that led to meme coins such as Dogecoin and Shiba Inu. In just a few days, the DAO has raised over $47 million from over 17,000 donors, with an average donation of $206. It also sparked a viral movement on Twitter that hailed the DAO's efforts to create memes. The key members of the DAO were Brian Wagner and Liminal Warmth.

The DAO constitution was another example of a grassroots internet movement leveraging establishment symbols with the help of cryptocurrencies. Similar to what happened with GameStop, the DAO Constitution directed the virtual power of the masses to barely make real history.

The DAO posted its first tweet on November 12, just six days before the Sotheby's auction on November 18. The copy of the Constitution was the last remaining private copy, and for the first time in 33 years, a copy of the Constitution went on sale. . Within hours, the DAO Discord server grew by several thousand people and eventually reached 20,000 members in just over a week.

Drawing on a mix of Nicolas Cage movie-inspired memes in which Cage attempts to steal the Constitution and a crypto-specific (x,x) meme first popularized by Olympus (OHM), the attempt quickly went viral on Crypto Twitter. . The DAO used Juicebox to solicit on-air donations and raised north of $47 million, easily enough to win the auction were it not for auction house fees and storage costsdocuments that were not taken into account by the DAO. Ironically, the auction was won by Ken Griffin, declared anti-Bitcoin.

After this saga, the DAO Constitution announced the dissolution, as it had planned in case of failure from the very beginning. He cited technical and administrative requirements as reasons for this, and donations can be collected for an indefinite period of time through the project's website.

Because the DAO cannot own a copy of the Constitution, its authors would not receive partial ownership of the Constitution. Instead, PEOPLE is a governance token that would give its holders a say in where the Constitution should be placed, i.e. which museum the physical copy would be housed in.

The DAO Constitution was a non-profit organization affiliated with the LLC DAO, which was legally owned by two members of the DAO.

ConstitutionDAO price today is ₽5.75 rubles. with a daily trading volume of ₽24,155,382,016 We update our price PEOPLE to RUB in real time. The DAO constitution is up 8.10 in the last 24 hours. The current CoinMarketCap rating is #155 with an income capitalization of ₽29,087,855,367. The circulating supply is 5,060,137,335 MAN coins and max. offer 5,060,137,334 MAN coins.