Topic: [ANN] DAICO combine the best features of the ICO (Read 180 times)
Finally, smart contracts, transparency and anti-delay system and putting the power into investors hand, this is the sweetest thing happened in the world of cypto.
Vitalik Buterin, the high-profile co-founder of Ethereum, has quietly left China-based investment firm Fenbushi Capital
What are you talking about: with ICO now quite a lot of problems, including:
- centralization (huge funds are in the hands of one team);
- investors can not influence the decisions of the authors of the ICO;
- it is impossible to determine and fix the mechanism of spending in advance.
Solving the problems with the constant postponement of the dates and delaying the fees themselves, the contract will initially spell out the dates and after the end nothing will change, such concepts as pre-ICO and post-ICO that are now very popular will disappear.
Propose to combine the concept of ICO with DAO (Decentralized Autonomous Organizations) - a system working on smart contracts, i.e. pre-established rules (imagine an ordinary company without a management team - this is the DAO).
What will DAICO give us:
DAICO authors will be able to spend the funds received ONLY in accordance with the smart contract. For example, they will receive the following, say, 10% of the funds ONLY after completing some task that is prescribed in the project road map. So they will have a serious motivation to really develop.
Clear rules for fundraising. What, when, how much - all these will be managed by a smart contract. Investors will feel more secure, the scheme will become more transparent.
The power of the crowd. Partly the project will be managed by the owners of the tokens. For example, with enough votes, we will be able to "destroy" the project - and the means to return to investors' accounts.
Apparently, DAICO is the way to solve all these problems
- centralization (huge funds are in the hands of one team);
- investors can not influence the decisions of the authors of the ICO;
- it is impossible to determine and fix the mechanism of spending in advance.
Solving the problems with the constant postponement of the dates and delaying the fees themselves, the contract will initially spell out the dates and after the end nothing will change, such concepts as pre-ICO and post-ICO that are now very popular will disappear.
Propose to combine the concept of ICO with DAO (Decentralized Autonomous Organizations) - a system working on smart contracts, i.e. pre-established rules (imagine an ordinary company without a management team - this is the DAO).
What will DAICO give us:
DAICO authors will be able to spend the funds received ONLY in accordance with the smart contract. For example, they will receive the following, say, 10% of the funds ONLY after completing some task that is prescribed in the project road map. So they will have a serious motivation to really develop.
Clear rules for fundraising. What, when, how much - all these will be managed by a smart contract. Investors will feel more secure, the scheme will become more transparent.
The power of the crowd. Partly the project will be managed by the owners of the tokens. For example, with enough votes, we will be able to "destroy" the project - and the means to return to investors' accounts.
Apparently, DAICO is the way to solve all these problems
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