What Happened to the Accidental $3.6 Million Transfer from User to ConstitutionDAO?

- Advertisement -spot_imgspot_img

Despite its announcement of the platform’s dissolution, the decentralized organization ConstitutionDAO continues to be in the headlines. Reportedly, a user recently contacted ConstitutionDAO over Discord, requesting a return of about $3.6 million from the platform.

In the tweet posted recently by Colin Wu, a Chinese journalist, due to operational errors, the user named undo.eth accidentally transferred $3.6 million, equivalent to 39 million of People, the native token of ConstitutionDAO’s contract address. Nonetheless, in hopes of retrieving the amount, the user has already petitioned the developers to address the mistake as soon as possible. 

While on Thursday ConstitutionDAO officially announced its dissolution, the reasons were a failure at an earlier venture and lack of a cohesive objective for the future. After a brief break, ConstitutionDAO’s core group tweeted after losing a wager to acquire a copy of the constitution of the United States.  They ordered closure due to the lack of a cohesive objective that was as compelling as the attempt to acquire a copy of the US constitution. 

In addition, a new project would entail establishing more official governance and refocusing. According to the organization, the platform’s core staff is currently unable to launch a whole new project, as the development and maintenance of an ongoing project necessitate competent technical and administrative control. Therefore, the dissolution announcement comes as a consequence of the platform and the initiative reaching its limit.

The team revealed on a Twitter thread that “this project was a landmark event. We made history and showed the entire world that a group of internet friends can use the power of web3 to face a seemingly insurmountable goal and achieve incredible results on an impossible timeline.”

Yet, ConsititionDAO has grown in popularity since the news of the shutdown. After the platform’s closing words, the native cryptocurrency, People, skyrocketed in value. ConstitutionDAO’s People soared from $0.004 when the news was announced to an all-time high of $0.16 in the past 2 days, and despite retracement, it is still trading at a robust $0.1. 

Also read: Massive Sell-Off Aftermath: Scaramucci Says “This is a Buying Opportunity”

Latest news
Related news
- Advertisement -spot_img