# A DAO called people

By [PEOPLE](https://paragraph.com/@fenchiew) · 2022-07-07

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![](https://storage.googleapis.com/papyrus_images/0a628fb438f7ea909f698531ad28c7837501087d311de624dc47d1d15fe050b5.png)

People DAO was born from an event in Web3, in mid-November 2021, a group of netizens decided to buy a copy of the US Constitution. The resulting social movement, the Constitutional DAO, raised $45 million but was outbid by Citadel CEO Ken Griffin.

The People DAO was formed after a failed attempt to adopt $PEOPLE for governance, driven by the unique properties of tokens and stories. The People DAO officially launched on December 6 following a Snapshot vote. Some people have formed common values for people, so people have the meme attribute and circulate in the market.

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*Originally published on [PEOPLE](https://paragraph.com/@fenchiew/a-dao-called-people)*