DAO collects ETH to purchase a copy of the U.S. Constitution

A DAO Reaps Cryptocurrency funds Buy a copy of the US Constitution to be auctioned in Sotheby’s.

Constitution DAO: Fundraising

The association is called Constitution D.A.O. And is Started fundraising on Ethereum Raise the funds needed to participate in the auction. At the time of writing, about $ 3 million has been raised, 620,000 ETH. The auction takes place on November 18th.

Copy of the US Constitution

The DAO intended acparrarsI am one of the last copies of the original prints of the American Constitution. There are only 500 examples in the world. It was auctioned off 30 years ago.

Last buyer of a copy sold at Sotheby’s Howard Goldman, Bought from the auction house in 1988 and became the forerunner of a collection of its history books and American manuscripts.

In 1997, that person died, and since then his wife has kept his precious speech.

It will now be put up for auction Estimated value $ 18-20 million.

The first edition of the US Constitution contains only 500 copies

Because the DAO wants a copy of the US Constitution

The Constitution DAO wants to get a copy of the Constitution to get it It must be kept and placed in the hands of Janmath in a certain sensee, i.e. those who contributed to fundraising.

The primary purpose will be to secure and preserve the copy. Then, like all self-respecting DAOs, The community will determine the future of the copy And its administration. Of course, now there is one element: the rule token. Although the DAO explains that anyone who bids gets a part of the constitution:

“You have a part of the constitution based on how much you contribute, as well as the ability to vote on which direction future efforts will go.”

The fundraiser should have ended on November 13, but the total amount collected was not enough to win the auction. Thus the fundraising work will continue. For those who can’t contribute, as the organizers write on Twitter Spreading the message is also important.

What is DAO

DAO Abbreviation for Decentralized autonomous system. They were born to streamline the administration of a decentralized protocol. Operation determinato da smart deal, Which eliminates human intervention.

Decisions are made through proposals, and whoever is a part can vote DAO, Usually because it has a specific token.

In practice it is an organization managed by the same community to which it is a part. In the case of the Constitution of Tao, this includes those who participated in fundraising and those who were invited to decide how to retain the prize-winning copy of the U.S. Constitution. Suppose they win the auction.