Folks who donated to ConstitutionDAO were given PEOPLE tokens in exchange, proportional to the amount they donated. Post-auction loss, those can be traded in for a refund (less gas).
Model this: PEOPLE tokens are trading at 30x their refund value! Who is buying these, and why?
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(To make sense of the prices, you need to understand that PEOPLE tokens were issued at 1M per ETH donated)
Also, how could there possibly be a 24h trading volume of ~6k ETH worth of $PEOPLE tokens? The DAO only raised about half that much total!
Ah, that's a good theory! At least for the PEOPLE/ETH pools. Doesn't make sense for PEOPLE/USDT pools.
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People Dao is under development checkout our discord for more update
Project has nothing to do with Constitution Dao
For Distribution I agree with you
But the value of token is reflective of people Dao