ConstitutionDAO
PEOPLEUSDView Detailed Chart
0.01300USD
-0.00088-6.34%
Time
1m
15m
30m
1h
4h
D
W
D
Today
-6.34%
5 Days
-28.92%
1 Month
-44.18%
6 Months
-78.75%
Year to Date
-71.46%
1 Year
-61.69%
View Detailed Chart
Key Data Points
Opening Price
0.01362Previous Closing Price
0.01388Indicators
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
This feature includes nine of the commonly used technical indicators: MACD, RSI, KDJ, StochRSI, ATR, CCI, WR, TRIX and MA. You may also adjust the timeframe depending on your needs.
Please note that technical analysis is only part of investment reference, and there is no absolute standard for using numerical values to assess direction. The results are for reference only, and we are not responsible for the accuracy of the indicator calculations and summaries.
Sell
Indicators
Indicators
Value
Direction
MACD(12,26,9)
-0.001
Sell
RSI(14)
33.355
Neutral
STOCH(KDJ)(9,3,3)
8.151
Oversold
ATR(14)
0.001
Low Volatility
CCI(14)
-140.790
Sell
Williams %R
93.171
Oversold
TRIX(12,20)
-0.541
Sell
StochRSI(14)
0.000
Oversold
Moving Average
Indicators
Value
Direction
MA5
0.014
Sell
MA10
0.016
Sell
MA20
0.016
Sell
MA50
0.018
Sell
MA100
0.026
Sell
MA200
0.046
Sell
More Details of ConstitutionDAO
Constitution DAO was an experimental decentralized autonomous organization (DAO) that aimed to raise funds to purchase a rare copy of the United States Constitution at a Sotheby's auction in November 2021. The DAO was formed by a group of web3 enthusiasts who came together with the goal of acquiring one of the 13 existing physical copies of the U.S. Constitution, which was set to be auctioned off.
The DAO launched its fundraising efforts just six days before the auction, and within a short period of time, it managed to raise over $47 million in Ethereum from more than 17,000 donors. The median donation size was $206, showcasing the grassroots nature of the initiative. The DAO's efforts quickly gained viral attention on social media, with memes and references to the Nicolas Cage movie "National Treasure" fueling the momentum.
However, despite the impressive fundraising efforts, the DAO ultimately fell short in the auction, as the copy of the Constitution was won by billionaire hedge fund manager Ken Griffin, who outbid the DAO. The DAO had not accounted for the additional auction house fees and storage costs, which proved to be a critical oversight.
What was the purpose of ConstitutionDAO?
The primary purpose of ConstitutionDAO was to raise funds and purchase one of the 13 remaining original copies of the US Constitution, which was being auctioned off by Sotheby's. The DAO aimed to collectively own the historical document and decide where it would be displayed, as a symbolic gesture of the people owning a piece of American history. Beyond just the auction, ConstitutionDAO was an experiment in using decentralized blockchain technology and a DAO structure to enable a large number of people to pool resources and participate in the acquisition of a culturally significant item.
What is the PEOPLE token, and what was its purpose for ConstitutionDAO?
The PEOPLE token was ConstitutionDAO's governance token, which would have given holders voting rights over decisions related to the ownership and display of the Constitution copy if the DAO had successfully purchased it. However, since the DAO was unable to win the auction, the PEOPLE token did not end up having any real-world utility. It was intended to represent fractional ownership and decision-making power over the Constitution, but with the DAO's dissolution, the PEOPLE token has no ongoing use or value. The tokens are still available on decentralized exchanges like Uniswap, but serve no practical purpose now that the ConstitutionDAO experiment has concluded.
What happened to ConstitutionDAO after the failed auction?
After being outbid at the Sotheby's auction, ConstitutionDAO announced that it would be dissolving the organization. All of the Ethereum donations that had been contributed would be refunded to the original donors. The DAO cited technical and administrative requirements as the reasons for shutting down, rather than attempting to continue on with its mission. The failed attempt to purchase the Constitution copy was seen as an experiment that did not ultimately succeed, but the DAO's organizers viewed it as a valuable learning experience in the potential and limitations of decentralized, community-driven initiatives.
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