Constitution DAO

ConstitutionDAO was a single-purpose decentralized autonomous organization formed in November 2021 to crowdfund the purchase of a rare original copy of the U.S. Constitution at a Sotheby's auction. It raised approximately $47 million in ETH within days, but lost the auction to a $43.2 million bid. The DAO then dissolved and offered refunds to contributors.

The PEOPLE token was issued as a claim-type governance credential at a ratio of 1 ETH : 1,000,000 PEOPLE. Its only original redemption mechanism allows holders to redeem PEOPLE for a share of the ETH reserved in the Juicebox treasury, with redeemed tokens burned. The token contract ownership has been renounced, meaning no entity can mint additional supply. The official website states the project has reached its end of life, refunds remain open, and PEOPLE carries no rights, governance powers, or utility beyond this redemption mechanism.

Its core narrative is historical significance and meme culture persistence, with liquidity on exchanges. However, PEOPLE lacks intrinsic value capture: it is not used for gas, staking, protocol revenue sharing, or as collateral. It does not represent ownership of the Constitution copy. The token primarily trades speculatively rather than being used in applications.

In the past six months (March to September 2026), no confirmed hard fork, technical upgrade, staking launch, tokenomics revision, burn mechanism reform, or roadmap milestone occurred. Trading activity remains concentrated on centralized exchanges, with market cap in the tens of millions of dollars and rankings around 500 on major data platforms. PeopleDAO, a separate community project, uses PEOPLE for its own governance but is not a continuation of the original ConstitutionDAO mandate. The original project remains an archived artifact rather than an operating protocol.