ConstitutionDAO’s bold crypto bid for US Constitution falls short | TechCrunch

This article has a good background on the forming of ConstitutionDAO, who was involved, and how the process unfolded. I’m really happy that I got to be part of this, even if it ultimately didn’t work out. I did get a POAP out of it. 😊

There has been some blowback to the core group organizing this and I think it is unfortunate. Everyone can get their refunds back, I did, but there are a number of people that donated small amounts and those small amounts are often less than the gas feeds to withdraw the money. So, now the DAO has from some reports $17M in funds that make no sense to withdraw because the gas costs are higher than the amount. So, what the heck happens with that Ethereum?

I feel bad for the folks behind this as some are accusing them of running this like a scam and I don't see any shred of evidence to support that. I think this is a project that got a lot of traction and movement and it simply moved too fast for anyone to stay on top of and have thought through everything. They raised $48M in what, four days?

The most notable thing to me was that this was advertised as a DAO but nothing that happened in it actually ran as a DAO. I think that is because the DAO wasn't going to be created until the Constitution was bought. At that point the PEOPLE tokens would have been issued and voting could have occurred. Until then, it was all up to the core group which has some people worked up. 🤷‍♂️