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Brendon Lim
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PEOPLE now available on Coinhako

PEOPLE now available on Coinhako

We are thrilled to share that (PEOPLE) is now listed on Coinhako!

What are ConstitutionDAO and PEOPLE?

ConstitutionDAO was a decentralized autonomous organization formed in November 2021 to buy an original U. S. Constitution copy. This community-driven initiative aimed to use blockchain technology for transparent, decentralized ownership and management of rare items. They raised $47 million in Ether but lost to a $43. 2 million bid at Sotheby's auction, after which the organization disbanded. 

The $PEOPLE token was ConstitutionDAO's native currency for governance, ownership, and fundraising. It gained attention during the project's attempt to buy a rare US Constitution copy. Though unsuccessful, the token exemplifies DAO asset ownership, with its value driven by demand for rare DAO-held assets and potential ecosystem governance.

There is a total supply of 5,060,137,335 PEOPLE and PEOPLE has traded for US $0.1852 at its peak. 

How did ConstitutionDAO work?

ConstitutionDAO's governance uses a community-driven model, where members propose and vote on asset ownership and management decisions, including acquiring, selling, and managing assets. The decision-making process was intended to follow a liquid democracy model, allowing members to delegate voting power or vote directly on proposals, promoting efficiency and community participation.

Participants bought $PEOPLE tokens, granting voting rights and fractional ownership in the DAO's assets.

Why did ConstitutionDAO stand out?

ConstitutionDAO’s main features were designed to provide a transparent and decentralized solution for ownership and management. Some of the main features of this project include:

Decentralized Ownership

ConstitutionDAO enabled decentralized ownership of a rare asset using blockchain. Multiple individuals can own fractional shares of the asset, with ownership rights secured by Ethereum smart contracts.

Community-Driven Governance

ConstitutionDAO used a liquid democracy model for decision-making. Members could vote directly or delegate their voting power to others. This community-driven approach ensured transparent and democratic governance of the DAO's assets.

Preservation of Rare Assets

ConstitutionDAO aimed to own and preserve a rare copy of the Constitution using smart contracts on the Ethereum blockchain. These contracts contained rules and protocols for asset management, ensuring protection and preservation for future generations.

What can you do with PEOPLE on Coinhako?

PEOPLE will be available for users to trade across all swap pairs on Coinhako.

To gain access to any of these trading pairs, you can either:

  1. Fund your SGD wallet on Coinhako instantly with PayNow (or any other supported payment method)
  2. Purchase PEOPLE instantly with Visa / Mastercard 

Please note that the sending and receiving of PEOPLE will not be available for this release.

Risk Warning on Digital Payment Token Services

Hako Technology Pte Ltd ("Coinhako") is licensed to provide digital payment token services under the Payment Services Act 2019 (No. 2 of 2019).

The Monetary Authority of Singapore ("MAS") requires us to provide this risk warning to you as a customer of a digital payment token ("DPT") service provider.

Before you pay your DPT service provider any money or DPT, you should be aware of the following.

  1. Your DPT service provider is licensed by MAS to provide DPT services. Please note that this does not mean you will be able to recover all the money or DPTs you paid to your DPT service provider if your DPT service provider’s business fails.
  2. You should not transact in the DPT if you are not familiar with this DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by your DPT service provider.
  3. You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.
  4. You should be aware that your DPT service provider, as part of its licence to provide DPT services, may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.

Visit: Coinhako.com/risk-disclosure for more information.