ConstitutionDAO decides to discontinue the project and indefinitely open up refunds for donations.

ConstitutionDAO, after failing to win the auction for the US Constitution at Sotheby's, the discussion focus within the community has been on how to refund donations and what the next steps should be. Today, on the 24th, a preliminary conclusion has been reached.

ConstitutionDAO Dissolution Statement

ConstitutionDAO has announced: "We have ultimately decided to discontinue our pursuit of buying the U.S. Constitution as the sole objective. Establishing more formal governance and moving on to the next chapter is not something our core team can sustain." They further stated that ConstitutionDAO needs to appropriately pivot to a new chapter, with many technical and administrative requirements.

As a result, they believe that ConstitutionDAO has fulfilled its mission. It completed fundraising and participated in the Sotheby's auction with the community. Although they did not win the bid in the end, they have fulfilled their promise to refund the funds.

Refundable Funds with No Time Limit

ConstitutionDAO mentions that those who donated can redeem their funds at any time here, with no deadline.

ConstitutionDAO Has Made History

ConstitutionDAO has stated that this project has become a defining event, making history and showcasing the power of Web3 to the world. They hope that this initiative will inspire others to utilize Web3 for positive impact on the world.

Community Response

Despite being a crowdfunding project involving thousands of people and having forty thousand followers on Twitter, the final tweet received only a few hundred likes. There have been community reactions as well, with the median donation amount being $206.26. When factoring in the initial contributions and redemption transaction fees, it has become more costly, prompting hopes for the official team to consider better refund methods.