Enshrine it the protocol/blockchain since that is the constitution that underpins our community.
This would create investor confidence and is a much simpler message to communicate to cautious outsiders.
If there's a genuine emergency need for funds then hard fork.
Code cannot describe intent and can have bugs. Code is not accessible by the average man. The code should follow the spirit of the constitution.
What the code allows people to do speaks for itself. Adding another layer of politics into the system is a weakness. Users of bitassets don't need bitshares to have a constitution, neither do shareholders (they've been fine so far), delegates will each have their own mini-consitution.
Bitshares will end up being governed by the most popular delegates and their constitutions, combined with the code.
Who is this over-arching constitution for? If 3i will become delegates then there is no organisation that is bitshares that has a constitution. There are just delegates, BTS holders and bitasset users connected by financial incentives in a decentralised network.
It would be a non binding expression of core principles and vision. It would not be a set of rules... the rules are enforced by the code and the market.
We hodl these truths to be self evident, that all men are created equal with certain inalienable rights that among these are Life, Liberty and Property. That to secure these rights social consensuses are adopted that apply equally to all men and the highest convention is that no man shall do unto another man that which he would not want done unto himself.
We recognize that property rights are essential to the security of life and liberty and that the primary purpose of social consensus systems is to establish property rights that are indisputable or quickly resolved without using the threat force or coercion.
We recognize that no man shall be compelled to join our endeavor and that each man shall have an opportunity to profit from our common venture proportional to their contributions to this venture and that all shall share equally in the costs funded by issuance of new BTS subject to the approval of existing BTS holders.
We recognize that a common stake known as BTS shall be used to track each individuals contribution and that the holders of BTS shall not have the power to redefine property rights in other asset classes. (this gets tricky... but probably needs to be addressed).
... just some thoughts... this document should be something that all delegates publicly support like all senators are expected to support and defend the constitution. When evaluating hard forks they should be evaluated in light of these principles.
I prefer to stick to principles over rules and procedures wherever possible. Principles rarely change, but rules and procedures sometimes need to change to hold to principles.