With the news that ETH ETF may be approved, Ethereum has ushered in a wave of super rises, and the market FOMO sentiment is serious. The meme currency, which represents the emotional value, has also reached a new high, attracting a lot of attention, but the new high also means that there are a lot of profit-taking. No matter how the final news on Friday lands, these currencies will face a lot of profit-taking and risk-averse selling pressure on Thursday and before, and there is a certain pressure of callback; short-term profit-taking is recommended. There are many market opportunities, but survival must be the first factor. Don't always ride the roller coaster đą!
The People Token, also known as ConsitutionDAO, aims to win a rare copy of the US Constitution at the Sothby's auction and appeal to the cryptocurrency world for donations. Constitution DAO attracted 17,437 contributors and raised more than $47 million. PEOPLE is the token given by ConstitutionalDAO to its contributors, and it becomes a community-owned token after the auction fails.
The People Token has a deflationary mechanism, which also means that the token will not be produced more and more. When the original donor returns the token, the returned token will also be destroyed. Theoretically, if everyone returns the token, then all the tokens will be destroyed. Of course, the current trend and market of the currency price show a trend of rising all the way. Compared with the decline after the auction failed, it has rebounded 5 times and is nearly 10 times higher than the price when participating in the DAO. As the saying goes, things are rare and valuable. From a practical point of view, no one will choose to return the currency at present.
Secondly, the people coin has left a way out for users and made a "bottom-line" preparation. There is no limit on the refund time of People, which means that at any time, users can return according to the previous donation ratio, even if the coins bought from the market can be returned. This provides complete protection for the holders of the people coin. Even if the worst happens, everyone can destroy the tokens at the original price from the official website to obtain ETH.
At the same time, from the perspective of "metaphysics", the people coin has its own "magic". The name of the token is people, which can represent many beautiful words such as "people", "democracy", "rights" and "people's rule". These concepts are very representative, and it will allow everyone to seek a new consensus invisibly.
