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Brief introduction to PEOPLE coins
PEOPLE coins were launched in November 2021, with more than 5 billion coins and a market value of over 200 million US dollars.
When it was launched, ConstitutionDAO set up a deflation mechanism. After the auction of the constitution failed, the holders could exchange People for ETH in proportion and this part would be destroyed.
So People will have deflation and a guaranteed price, and its value will also rise if the price of ETH rises in the future.
After the dissolution of ConstitutionDAO, early participants can return ether through Juicebox, returning about half of the funds, and the remaining users trust PEOPLE coins and DAO governance.
In short, the situation of PEOPLE coins is special and may be dissolved at any time. There is no token governance white paper and guidelines on the official website. It is now a community symbiotic governance token, and later changed to We The PEOPLE (WTP) after voting.
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