What is PEOPLE Coin? ConstitutionDAO Assumptions

Let’s take a closer look at the different story of ConstitutionDAO, a unique experience in the world of cryptocurrency, and PEOPLE Coin, which lies at the heart of this special project! ConstitutionDAO came together in 2021 by a group of web3 enthusiasts to purchase a rare written copy of the United States Constitution. This initiative, under the umbrella of a decentralized autonomous organization (DAO), has raised a large financial resource using community power. However, they did not achieve their goals, and this process revealed the potential and difficulties of community-based projects in the cryptocurrency world. So, what is PEOPLE Coin and where will its future take shape?

What is ConstitutionDAO?

ConstitutionDAO is a decentralized autonomous organization (DAO) founded by a group of web3 enthusiasts with the goal of purchasing a copy of the United States Constitution from Sotheby’s. Founded in November 2021, this scheme raised millions of dollars to purchase a small copy of the US Constitution, of which there are only 13 physical original copies. However, the bid with the $40 million ETH raised failed, with Citadel’s CEO being undertaken by billionaire Ken Griffin. After the auction, ConstitutionDAO announced that it was dissolving itself and donations would be refunded.

This initiative was a valuable example of what blockchain technology and community power can achieve. While ConstitutionDAO demonstrated the potential of the decentralized governance model, it also revealed the difficulties that such projects may face.

What is PEOPLE Coin?

PEOPLE Coin is a cryptocurrency used by ConstitutionDAO and plays a key role in the administration and operation of the DAO. The DAO used this token to give its participants the opportunity to participate in the DAO’s decision-making processes and have a say in the administration. The PEOPLE token was distributed to fund various functions of the DAO and reward participants.

PEOPLE Coin was used to promote the internal workings of the DAO and community participation. Associates can use PEOPLE tokens to vote on the DAO’s decisions, direct the use of funds, and support projects. This enabled community members to actively participate in the project and make their voices heard.

Usage Areas of PEOPLE Coin

PEOPLE Coin functioned as a governance and reward token within ConstitutionDAO. Associates can use PEOPLE tokens to vote on the DAO’s decisions, direct the use of funds, and support projects. Additionally, the PEOPLE token represents the contributions of DAO members to the project and allows for a more democratic structure in the DAO’s decision-making processes.

Although it was decided to terminate the DAO after the auction failed, PEOPLE coin is still trading on a number of platforms and continues to attract interest from the community. This can be considered as an indicator of how community-supported projects and cryptocurrencies can evolve.

PEOPLE Coin Price Prediction

Currently, the price of PEOPLE Coin is around $0.08908. PEOPLE Coin price has increased by approximately 12 percent in the last month. It has experienced an increase of 647 percent in the last year. This rapid rise shows that interest and trust in PEOPLE Coin is increasing. However, as Kriptokoin.com, price fluctuations are inevitable due to the volatile nature of cryptocurrency markets.

Experts predict that PEOPLE Coin will become even more expensive in the long run with its community support and integration of projects. It is claimed that if DAO continues to be supported by the community and integrated into new projects, the price of PEOPLE Coin can rise up to $0.15. This increase can be supported by the expansion of the usage areas of cryptocurrency and its increased activity within the community.