September 30, 2022

ConstitutionDAO PEOPLE Token Continue To Rise Amid DAO Closure

2 min read

ConstitutionDAO may have really come short of expectationsConstitutionDAO may have really come short of expectations

Less than two days after the earlier reports of ContitutionDAO’s PEOPLE token hitting an all-time high of $0.02, it has actually now reached a new ATH of$0.16. Brief History of

ConstitutionDAO ConstitutionDAO was formed on November 11, when a group of crypto enthusiasts fulfilled on Zoom with a common goal of raising funds in order to protect the purchase of an uncommon copy of the United States constitution that was to be cost Sotheby’s auction on November 19.

In anticipation of the auction, the DAO raised more than $45 million in ETH from over 17,000 donors, but in the long run, could not protect the constitution copy after losing out to anti-crypto Citadel CEO Ken Griffin during the auction.

Regardless of having enough funds to secure the constitution, according to the determined guesses of numerous experts, the DAO was unable to do so for the fact that they ‘d have paid almost a million dollars of contributor cash, in gas charges, and even some more for transferring the constitution.

PEOPLE Token On The Rise

Meanwhile few days after losing out at the auction, the DAO revealed it was closing up shop and stated that all donors might declare their Ethereum refunds in exchange for individual tokens they got when they contributed. And according to Coinmarketcap information, PEOPLE was worth about $0.004, at the time of closure.

Data from Dune Analytics likewise indicates that almost 55.28% of the total supply of 4,565,078,206 PEOPLE tokens has actually currently been returned since the time of putting to get her this post. But there’s an obstacle.

Refunds aren’t precisely going as efficiently as planned. Just in the very same way users needed to suffer high gas fees to donate their Ethereum to the swimming pool, they’re now dealing with a comparable situation in getting the refund.

Now, despite the truth that ConstitutionDAO may have truly come short of expectations after the fundraising, but it’s apparent that the worth of PEOPLE continues increasing. Just the other day alone, even OKEx– the crypto exchange, revealed that it is will now be listing the token, having actually become a community-owned token.

The post ConstitutionDAO PEOPLE Token Continue To Rise Amid DAO Closure appeared first on Coingape.