PEOPLE coin was launched in November 2021 with a total supply of 5,060,386,464 coins and a market capitalization of over $200 million.

When the token was launched, ConstitutionDAO set up a deflation mechanism for the token. After the failure of the auction of the Constitution, the final refund policy given by ConsultationDAO is that holders of People can exchange People for ETH according to the original ratio (1ETH = 1,000,000 People), and this part of People will be destroyed.

Therefore, People will not only gradually deflate over time, but also have a guaranteed price, that is, 10,000 People = 0.01 ETH. It can be said that the price of People will not return to zero like ordinary meme coins. If the price of ETH soars in the future, the value of People will also increase accordingly.

After ConstitutionDAO announced its dissolution, earlier participants could return ether through Juicebox, and about half of the funds were indeed returned. But the remaining users gave a vote of confidence in the PEOPLE coin and the DAO governance form.

In general, the situation of PEOPLE currency is quite special. It is technically possible to dissolve at any time, and the official website does not have a white paper or guidance on token governance. The current PEOPLE coin is a governance token for community symbiosis, and was later voted to be renamed We The PEOPLE (WTP). #people创新高 $PEOPLE