Here’s what is happening to ConstitutionDAO and the $40M Raised to Buy the Constitution
The most recent replace in regards to the decentralized group, ConstitutionDAO has unveiled the closure of the platform given its former loss, and present lack of one other “unifying mission”. Final week, ConstitutionDAO misplaced its purpose to purchase the copy of the US Consitution for which it has raised over $40 million from hundreds of buyers.
In the end, we’ve come to the choice that persevering with on with out the unifying mission of shopping for the structure, organising extra official governance, and embarking on a brand new chapter isn’t one thing that we as a core group are in a position to assist.
— ConstitutionDAO (📜, 📜) (@ConstitutionDAO) November 23, 2021
ConstitutionDAO Does Not Plan on Taking Up Extra Initiatives
The group took to Twitter to announce the shutdown, with the reasoning that the group is unwilling to proceed with out the “unifying mission” of making an attempt to purchase the copy of the Structure, which might contain organising extra official governance and redirecting.
ConstitutionDAO’s core group confirmed the closure, noting that the constructing and sustaining of an ongoing venture requires a correct technical and administrative oversight and that’s one thing the group is unable to tug off but once more, confirming that the platform and venture, each have “run its course.” Nevertheless, they applauded the neighborhood’s efforts and asserted that ConstitutionDAO has proved the unity of the decentralized sphere, levying the venture as “a landmark occasion”.
“This was considering the technical and administrative necessities of making an attempt to embark on a brand new chapter correctly. Given this, we consider this venture has run its course, as we as a neighborhood have completed what we got down to do…This venture was a landmark occasion. We made historical past and confirmed your entire world {that a} group of web associates can use the facility of web3 to face a seemingly insurmountable purpose and obtain unbelievable outcomes on an not possible timeline”, the group famous in its Twitter thread.
ConstitutionDAO Misplaced to this Billionaire
ConstitutionDAO misplaced the bid within the public sale on Sotheby’s platform, to a Chicago hedge-fund billionaire and Citadel CEO, Kenneth Griffin. His bid of $43.2 million received him the first-edition copy of the U.S. Structure final week. Whereas on one hand, ConstitutionDAO stated to distribute authorities tokens to the contributors if they’d’ve received, however, Griffin intends to lend the copy of the US structure to the Crystal Bridges Museum of American Artwork in Bentonville, Ark. to make sure mass accessibility of this sacred piece of doc, the place it may be seen and appreciated by the individuals.
