PEOPLE

Aspect	Information
Short Name	PEOPLE
Full Name	ConstitutionDAO
Founded Year	2021
Main Founders	Publicly Anonymous
Support Exchanges	Uniswap, Binance, Coinbase, etc.
Storage Wallet	Ledger, Trezor, etc.

Overview of ConstitutionDAO(PEOPLE)

ConstitutionDAO is a form of decentralized autonomous organization (DAO) that has gained prominence within the cryptocurrency sphere. DAOs operate on blockchain technology and are characterized by the absence of a managing authority. Instead, they are governed by computer-coded rules and democracy between its stakeholders. The unique aspect of ConstitutionDAO, symbolized as PEOPLE, is its primary intent - to acquire historic artifacts and make them accessible to the general public. This DAO came to the limelight with its initial attempt to acquire one of the 13 surviving copies of the United States Constitution.

PEOPLE is the DAOs native governance token that represents voting rights on a pro-rata basis. The DAO raised funds to bid on the Constitution by selling these tokens. ConstitutionDAO operates on the Ethereum network, which is a decentralized, open-source blockchain known for its smart contract functionality. As with any DAO, decision-making in ConstitutionDAO relies heavily on community consensus. The community members can propose and vote on initiatives, and the decisions are made based on the majority votes. DAOs, including ConstitutionDAO, are a notable experimentation of decentralized governance, exploring how blockchain technology can be used to coordinate collective action beyond financial transactions.

To obtain more information, you can visit their website：https://www.constitutiondao.comand try to log in or register to use more services.

Pros and Cons

Pros	Cons
Decentralized Governance	Requires High Community Engagement
Transparent Decision-Making	Potential for Manipulation by Large Stakeholders
Unique Intent to Acquire Historical Artifacts	Reliant on Successful Fundraising
Serves Public Interests	Dependent on Ethereum Networks Speed and Fees

Pros:

1. Decentralized Governance: In a decentralized governance model like the one used by ConstitutionDAO, decision-making power is distributed among members, reducing the concentration of power. This democratic model could potentially lead to more equitable and inclusive outcomes.

2. Transparent Decision-Making: Because DAOs are built on blockchain technology, transactions and decision-making processes are transparent and can be audited. This transparency can lead to increased trust among participants.

3. Unique Intent to Acquire Historical Artifacts: ConstitutionDAO distinguishes itself from other DAOs by its mission to acquire and make historical artifacts accessible to the public. This goal allows members to participate in unique cultural and historic initiatives.

4. Serves Public Interests: Serving public interests by working towards the democratization of access to historically significant artifacts is an appealing aspect of ConstitutionDAO. It means the community can collectively own and preserve historical pieces that might otherwise be kept in private collections.

Cons:

1. Requires High Community Engagement: For the democratic and decentralized model to work effectively, ConstitutionDAO requires a high level of engagement from its community. Decisions are made by vote and it may challenge to achieve consensus in a large, diverse group.

2. Potential for Manipulation by Large Stakeholders: Despite the democratic structure, larger stakeholders might have more influence, potentially leading to manipulation. The extent of decentralization may vary depending on the distribution of the token holders.

3. Reliant on Successful Fundraising: ConstitutionDAO's ability to acquire artifacts is dependent on the success of its fundraising efforts. Failure to raise sufficient funds can prevent the DAO from fulfilling its objectives.

4. Dependent on Ethereum Networks Speed and Fees: ConstitutionDAO operates on the Ethereum Network, which may have issues relating to transaction speed and high gas fees. This can affect transactions, especially when the network is congested.

What Makes ConstitutionDAO(PEOPLE) Unique？

ConstitutionDAO, symbolized as PEOPLE, introduced an innovative model of operating within the cryptocurrency and blockchain space. Unlike traditional cryptocurrencies which primarily focus on serving as a medium of exchange, storage of value, or investment opportunity, ConstitutionDAO demonstrates an application of blockchain for a unique purpose - to acquire and democratize access to historically significant artifacts.

The main defining difference between ConstitutionDAO (PEOPLE) and other cryptocurrencies lies in its primary goal. While most cryptocurrencies and their respective platforms are developed specifically for financial transactions, ConstitutionDAO goes beyond that by implementing a non-financial objective - the acquisition and preservation of important historical artifacts for public accessibility.

This significant shift in the usage of a cryptocurrency and its underlying blockchain technology shows how decentralized platforms can be expanded for use in areas outside of transactional or financial purposes, thus transforming the concept of community ownership and collective decision-making.

Nevertheless, it's important to note that ConstitutionDAO, like other DAOs, is heavily reliant on community engagement and collective decision-making for its operation, and its success is hinged on successful fundraising from its community members. Moreover, as it operates on the Ethereum network, it's also subject to the network's scalability issues and transaction fees. These are common characteristics shared with other cryptocurrencies and DAOs.

How Does ConstitutionDAO(PEOPLE) Work？

ConstitutionDAO, represented by the PEOPLE token, operates as a decentralized autonomous organization (DAO). DAOs function based on the underlying principles of blockchain technology, emphasizing transparency, decentralization, and democratic decision-making.

The working mode of ConstitutionDAO begins with its community members who become part of the organization by owning PEOPLE tokens. These tokens not only provide members with an ownership stake in the organization but also with voting rights proportionate to their token holdings. Decisions, such as the acquisition of historical artifacts or changes in operational strategies, are proposed and voted on by the community members. Such proposals are implemented based on the majority votes.

The principle behind a DAO like ConstitutionDAO is a sense of shared ownership and collective decision-making without centralized control. It's code-based governance where decisions are made through smart contracts on the blockchain. This means the DAOs operations and activities are transparent, auditable, and immutable.

Funds within ConstitutionDAO are raised through the sale of its native PEOPLE tokens to its community members. These funds are primarily used to bid on and acquire historical documents. For example, ConstitutionDAO garnered attention when it attempted to acquire an original copy of the U.S. Constitution.

ConstitutionDAO operates on the Ethereum network, using its smart contract capability to execute these operations automatically. However, its worth noting that the costs and speed of transactions, making a proposal, or casting votes are subject to Ethereum's network fees and congestion.

The aspect that sets ConstitutionDAO apart from its counterparts is its core mission to make historically significant documents accessible to the public. The working model of ConstitutionDAO illustrates how blockchain technology can be used to foster a sense of collective ownership and democratize access to artifacts of significance.

Price

The price of PEOPLE (ConstitutionDAO) has fluctuated significantly since its launch. The price reached a high of $46.57 on November 19, 2021, but it has since fallen to around $0.02.

PEOPLE (ConstitutionDAO) is not a mineable asset. This means that there is no fixed supply of PEOPLE, and the supply can be increased or decreased by the DAO at any time. This gives the DAO a lot of flexibility in managing its finances, but it also means that the price of PEOPLE can be more volatile than the price of mineable assets.

The total circulating supply of PEOPLE (ConstitutionDAO) is approximately 3.03 billion. This number can change over time as the DAO buys and sells PEOPLE.

Exchanges to Buy ConstitutionDAO(PEOPLE)

Here are some of the notable Ethereum-supporting exchanges for general reference:

1. Uniswap: Uniswap is a decentralized exchange built on the Ethereum network. It allows direct trading between any two Ethereum-based tokens without any intermediaries.

2. SushiSwap: SushiSwap is another decentralized exchange leveraging Ethereum's blockchain. It also facilitates peer-to-peer trading of Ethereum-based tokens.

3. Binance: Binance is one of the largest and most well-known centralized exchanges in the crypto market. It supports trading of a multitude of Ethereum-based tokens and could include PEOPLE if it sees a substantial user demand.

4. Coinbase Pro: Coinbase Pro is the advanced trading version of Coinbase. It supports an extensive array of Ethereum-based tokens and offers advanced trading features.

5. Kraken: Kraken is a centralized exchange which offers a large range of cryptocurrencies, including many Ethereum-based tokens.

Please note, the availability of PEOPLE tokens on these exchanges would depend on a multitude of factors, including regulatory compliance, public demand, liquidity, and more. It's recommended to check the most updated information directly on the exchange platforms or on ConstitutionDAO's official channels.

How to Store ConstitutionDAO(PEOPLE)？

As ConstitutionDAO (PEOPLE) is an Ethereum-based token, it can be stored in any wallet that supports ERC-20 tokens. Here are a few types of wallets that can be used:

1. Hardware Wallets: These are physical devices, such as Ledger or Trezor, and are considered the most secure wallets for crypto storage. They store your private keys offline, keeping your assets safe from online threats.

2. Software Wallets: These are applications that can be installed on your mobile device or computer. Examples include MetaMask, Trust Wallet, or MyEtherWallet. Some of these wallets function as browser extensions, making it easier to interact with decentralized applications (DApps) including ConstitutionDAO.

3. Web Wallets: These are accessible directly from a web browser and don't require any downloads. Examples include MetaMask or MyEtherWallet.

4. Mobile Wallets: Mobile-specific software wallets like Trust Wallet or Coinbase Wallet can store PEOPLE tokens and they enable users to manage and transfer their tokens from their smartphones.

The selection of a specific wallet depends on the user's needs. Hardware wallets offer the highest level of security, while web, software, and mobile wallets offer convenience and are typically more user-friendly.

Keep in mind that no matter the wallet chosen, it's critically important to store the wallet's private keys safely. Losing these keys can result in a permanent loss of the tokens. Moreover, one must always ensure the wallet is obtained from a verified and official source to avoid scams and counterfeit wallet apps.

Should You Buy ConstitutionDAO(PEOPLE)？

Those who might find it suitable to buy ConstitutionDAO (PEOPLE) tokens could include individuals who align with the organization's mission, are interested in participating in a blockchain-based democratic governance system, or see value in being part of a community focused on acquiring and democratizing access to historically significant artifacts. Historical enthusiasts, blockchain proponents, and individuals who believe in the potential impact of decentralized autonomous organizations could potentially find value in participating in ConstitutionDAO.

Here are a few pieces of advice for those considering purchasing PEOPLE tokens:

1. Research and Understand DAOs: DAOs operate differently from traditional organizations, so it's essential to understand how they function before participating. Understanding how voting rights, decision-making, and various other aspects of DAOs work can make it easier to participate fully and effectively.

2. Align with the Mission: ConstitutionDAO has a specific goal of acquiring and sharing historical artifacts. Potential token holders should align with this mission as it deeply influences the DAO's actions and decisions.

3. Consider the Risks: Like with any crypto asset, buying PEOPLE tokens comes with a risk. Market volatility, technological risks, potential manipulation by large token holders, and the success/failure of the DAO's mission can all impact the value of your holdings. It's crucial to evaluate these risks thoroughly.

4. Stay Updated: Cryptocurrency regulations can change quickly, and these changes can impact your holdings. Staying updated on developments in the crypto regulatory scene, especially regarding DAOs, can help protect your interests.

5. Manage Your Investment responsibly: Never invest more than you can afford to lose. While potential returns can be high, cryptocurrencies are notoriously volatile and losses are possible.

6. Secure Your Assets: They should be stored in a secure, reliable digital wallet. Not securing tokens properly can lead to a complete loss of funds.

Remember that buying any type of cryptocurrency or token should be based on thorough research and understanding. It's always wise to consult with a financial advisor or conduct in-depth personal research before entering into any cryptocurrency transactions.

Conclusion

ConstitutionDAO, or PEOPLE, is a notable development in the world of decentralized autonomous organizations (DAOs). Its unique mission to acquire and democratize access to historically significant artifacts distinguishes it from other DAOs and cryptocurrencies. It operates on Ethereum blockchain by using native PEOPLE tokens, which embody ownership and voting rights within the DAO.

As for its development prospects, the future of ConstitutionDAO will be driven by multiple factors. Its success heavily depends on its ability to engage its community, raise the required funding for artifact acquisitions, and manage risk associated with blockchain technology and Ethereum network, against which its operations are executed.

As an investment avenue, PEOPLE tokens and DAOs, in general, come with a distinct set of risks and should not be treated as traditional investment assets. Increase in value of DAO tokens is not guaranteed and it can fluctuate based on both internal factors (e.g., decision-making outcomes, successful acquisitions) and external conditions (e.g., crypto market volatility, regulatory changes). Hence, potential investors should thoroughly understand these aspects and manage their investment responsibly. It's always recommended to perform due diligence or consult with a financial advisor before entering into any cryptocurrency transactions.

FAQs

Q: How does token ownership influence participation in ConstitutionDAO？

A: Ownership of PEOPLE tokens in ConstitutionDAO equates to a stake in the organization and voting rights for decision-making.

Q: Which blockchain platform does ConstitutionDAO use？

A: ConstitutionDAO operates on the Ethereum network, a decentralized blockchain recognized for enabling smart contract functionality.

Q: Do larger stakeholders in ConstitutionDAO have a greater influence？

A: Yes, in ConstitutionDAO, larger stakeholders have greater voting power, which could potentially result in them having more influence over the DAO's decisions.

Risk Warning

Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.