Decentralized Autonomous Initial Coin Offerings (DAICO)
Proposed by the creator of Ethereum (ETH), Vitalik Buterin, Decentralized Autonomous Initial Coin Offerings (DAICO) is the perfect combination between Decentralized Autonomous Organizations (DAOs) and Initial Coin Offerings (ICOs).
The concept of DAICO suggests entrusting the proceeds of ICOs into a DAO smart contract while putting the governance right into the hands of the investors. With DAICO, funds cannot be released all at once after the completion of the fundraising campaign.
The tap variable can cap the funding based on the per-second rate, voted by the investors. In case the development team fails to finish the project, contributors can also vote for a refund of what’s left of the fund.
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