A 1787 copy of the US Constitution was sold for over forty million dollars.
Ardon Bar-Hama/SOTHEBY'S/Handout via
Last week, ConstitutionDAO raised over 40 million dollars in a few days to buy a rare copy of the US Constitution. The news cycle dominated late Friday after Ken Griffin, the CEO of Citadel, revealed that he defeated a group of investors in a bidding war that broke records.
What's next for the DAO? There are a couple of things.
The group said in a five-part thread on Sunday that they will be proposing a plan that outlines governance, vision, and values for the community to review and comment on.
It proposed two routes for the group of 17,000 people who banded together to raise an extraordinary sum.
The group said that investors who want to opt out can get their money back at the original rate. The group said it will make a website in the coming week to make it easier to track claimed and unclaimed funds.
The gas fees are required in every transaction and are on the existing website of the DAO. Some may have failed to realize this at the beginning.
The group said that investors who want to invest in another object can sign a message without paying for gas and commit their funds to the group's treasury.
WTP stands for We The People and gives holders the ability to vote on what direction the DAO will take. When donating to ConstitutionDAO, there is no expectation of profit.
Internet communities pull capital together and decide how to invest it. The joke started after the sale of one of the 13 remaining copies of the US Constitution.
The most valuable historical document ever sold at an auction was the 1787 copy of the Declaration of Independence, which was purchased last week for $43.2 million by Griffin. The CEO said he would give it to the Arkansas art museum for free.
ConstitutionDAO admitted on its website that it was disappointed with the project's failure but decided to end the thread on an optimistic note.
We educated millions about the DAOs. We showed the world the amazing things that can be done with the coin. You all made it happen.
Business Insider has an original article.
