ConstitutionDAO (PEOPLE)

ConstitutionDAO (ticker: PEOPLE) was a single-purpose DAO established in 2021 that conducted a unique experiment. It accomplished its intended goals, which included raising capital, participating in an auction at Sotheby’s, and offering full refunds to the community in the event of a loss. However, having lost the auction and with the core team’s decision to wind down, ConstitutionDAO recognizes that the tokens hold no governance, rights, or utility other than the ability to redeem them for Ethereum at a ratio of 1,000,000:1 through the smart contract held in Juicebox. It should be noted that the DAO does not endorse or support any plans for the token, and individuals are encouraged to conduct their research.

ConstitutionDAO provides two choices to token holders. First, they can claim their unclaimed $PEOPLE tokens, which will be deposited into their wallets. Alternatively, token holders can redeem their claimed or unclaimed $PEOPLE tokens for Ethereum at a ratio of 1 ETH to 1,000,000 $PEOPLE, minus gas fees. This option allows them to exchange the tokens for their original value, contributing to the initial crowdfund for purchasing the constitution. Ultimately, the decision to claim or redeem the tokens rests with the individual, considering their preferences and future plans.

While ConstitutionDAO believes its project has concluded, it acknowledges that some community members may wish to incorporate the $PEOPLE tokens into future projects. However, the DAO explicitly states that it neither endorses nor supports any such plans for the tokens. Therefore, token holders are responsible for making independent decisions regarding the use and disposal of their $PEOPLE tokens. It is important to note that no information provided should be considered financial advice, and individuals should conduct their research before taking any actions related to the tokens.