Decentralized Autonomous Organization (DAO): ConstitutionDAO is governed by a collective of participants using blockchain technology, meaning decisions are made by community vote rather than a central authority.
2. Single-Purpose Objective: Unlike most DAOs with broad goals, ConstitutionDAO was specifically created to purchase a rare copy of the U.S. Constitution.
3. Crowdfunding with Cryptocurrency: Funds were raised quickly and transparently using cryptocurrency, demonstrating the power of blockchain for collective action.
4. Smart Contracts: Utilizes smart contracts to ensure transparency and security in transactions and governance.
5. Community Ownership: Members receive $PEOPLE tokens, granting them a stake and voting rights in the DAO, engendering a sense of collective ownership.
6. Historical Context: Aimed to achieve a historical and symbolic goal by attempting to secure a piece of American history for public access and preservation.