PEOPLE Token Guide: How ConstitutionDAO Inspired a Crypto Movement

The PEOPLE token is a rare case study in crypto: a governance token born for a single mission that outlived its original purpose and became a cultural artifact. This guide explains what PEOPLE is, how ConstitutionDAO sparked a global movement, what remains today, and how to approach custody and risks in 2025.

What Is ConstitutionDAO?

In November 2021, ConstitutionDAO was a decentralized collective formed to bid on a rare first‑edition printing of the U.S. Constitution at Sotheby’s. It raised over $40 million from more than 17,000 contributors in a matter of days, showcasing how quickly a DAO can mobilize capital and community. The bid ultimately lost to a higher offer, but the effort demonstrated the power of on‑chain coordination and became a landmark in crypto’s public narrative. For a historical overview, see the background on ConstitutionDAO and its outcome on Wikipedia and mainstream coverage of the auction result on CNBC.
References: ConstitutionDAO on Wikipedia, Auction coverage on CNBC

PEOPLE Explained

• Origin and purpose: PEOPLE was the token issued to contributors to coordinate governance around the auction attempt. The DAO planned refunds post‑auction and dissolved its original mission.
• Current status: PEOPLE has no official connection to the Constitution; it persists as a community‑driven token with symbolic value. It is not a claim on any asset or organization. Token details can be verified on Etherscan and market data tracked on CoinGecko.
  References: PEOPLE token contract on Etherscan, ConstitutionDAO on CoinGecko

Why PEOPLE Became a Meme Beyond Its Mission

• Narrative gravity: The story resonated with a broader audience—crypto users, art enthusiasts, and mainstream media—turning PEOPLE into a symbol of online coordination, even after refunds were offered.
• Scarcity dynamics: Not all contributors redeemed, leaving tokens in circulation; speculation took over, driven by community sentiment and broader market cycles.
• Cultural imprint: PEOPLE belongs to the class of tokens whose value is shaped by memetics and social coordination rather than cashflows or protocol utility.

DAOs, Governance, and Legal Lessons

ConstitutionDAO taught the industry about speed, transparency, and the limits of mission‑driven DAOs. For an orientation on DAOs and how they work, see Ethereum’s introduction to DAOs. It also reminded participants to consider regulatory context and the difference between token voting and legal ownership claims; the SEC’s 2017 “DAO Report” remains a foundational reference.
References: Ethereum.org: What is a DAO, SEC Report of Investigation: The DAO

2025 Context: Infrastructure and Market Structure

• Cheaper coordination via L2s: Ethereum’s Dencun upgrade in March 2024 significantly reduced rollup data costs, making DAO operations and token governance on L2s more affordable. This has carried into 2025 with broader L2 adoption for voting, contribution collection, and community tools.
  Reference: Ethereum Foundation: Dencun on mainnet
• Scaling maturity: L2 platforms continue to grow total value locked and throughput, improving the user experience for DAO participants—see current landscape and metrics.
  Reference: L2Beat: Layer 2 ecosystem overview

Token Mechanics and Risks

• No intrinsic utility: PEOPLE does not grant rights to the Constitution or governance over any treasury today. Treat it as a community token with memetic value.
• Volatility and liquidity: Price action is driven primarily by sentiment, liquidity conditions, and exchange venues. Always verify contract addresses and liquidity sources before interacting.
• Smart contract and counterparty risk: When using DEXs, ensure you interact with the correct token contract. Etherscan remains the canonical reference for contract verification.
  Reference: PEOPLE token contract on Etherscan

How to Acquire and Store PEOPLE

• Exchanges and DEXs: PEOPLE is available on major exchanges and decentralized markets. Check market listings and liquidity before trading.
  Reference: Market data on CoinGecko
• Self‑custody best practices:
  • Verify the contract address before swapping or transferring.
  • Use transaction simulation and set sensible slippage.
  • Keep long‑term holdings in cold storage and review approvals (revoke unnecessary allowances when possible).
  • Back up seed phrases with durable, offline methods.

A Security Note for DAO and Community Tokens

Memetic assets often see rapid inflows and phishing campaigns. Protect against:

• Fake airdrops and impersonation: Confirm announcements via official channels and check the on‑chain provenance of links or contracts.
• Approval drains: Regularly audit and revoke token allowances using trusted explorers and allowance managers.
• Device hygiene: Keep signing devices and clients updated; use hardware wallets for private key isolation.

Where PEOPLE Fits in the Crypto Story

PEOPLE endures as a symbol of what DAOs can mobilize: capital, attention, and collective action at speed. In 2025, the technical rails (L2s, better wallets, safer standards) make similar attempts more cost‑effective. Whether tokens like PEOPLE evolve into ongoing communities or remain cultural artifacts, they highlight the importance of clear mission design, transparent refunds or wind‑downs, and robust custody for participants.

Should You Hold PEOPLE?

If you participate, do so with eyes open:

• Understand it as a community‑driven, highly speculative token.
• Size positions conservatively and prioritize self‑custody.
• Treat governance narratives and social momentum as the main drivers—not cashflow or protocol utility.

Closing: Secure Your COMMUNITY Tokens

For holders who want to preserve access to governance tokens and avoid signature compromise, a hardware wallet adds a strong layer of protection. OneKey is an open‑source hardware wallet with multi‑chain support that integrates with popular Ethereum tooling for DAO participation, making it suitable for securely storing assets like PEOPLE while interacting with DEXs and voting front‑ends. If you’re building or participating in DAO‑style initiatives, maintaining offline key storage and careful signing practices is essential—OneKey helps you anchor that operational security while keeping day‑to‑day interactions smooth.