Topic: DAICO and ICO ??? (Read 94 times)
DAICO (DAO + ICO = DAICO) is an innovative model that includes the best features of the concept of decentralized autonomous organizations (DAO) and allows to increase the security and transparency of the ICO.The idea was offered by Vitalik Buterin in January 2018. The goal is the same - to make ICO safer and attract investors to the project. Also, the holders of tokens will be able to vote for reimbursement of investments in the event that the developers do not fulfill their obligations, data at the start of the project.
as the other readers mention, it's basically corporate governance coded into smart contracts in the ico, so that u get to decide how funds are used, i.e., maybe funds are only disbursed after completing certain milestones etc.
Safer for investors, and brings more accountability to the project.
Safer for investors, and brings more accountability to the project.
Due to the fact that each ICO tends to create their own coin/token, and to the fact that a great percentage of companies financed through ICOs do not fulfill their projects, we find ourselves in a situation whereby there are more and more coin/tokens that have cero value.
Vitalik Buterin, cocreator and founder of y fundador de Ethereum, one of the biggest gurus in crypto currency, suggested improving the ICO procedure, giving the guidelines for the creation of ICO 2.0. The outcome is the DAICO Model.
The base idea of a DAICO is to be able to go through ICO procedures in a way that is much safer for invertors.
Polls are introduced into the system allowing token holders to participate in the core financial decision process,
allowing the investor to cast his vote under certain circumstances.
For example, in a DAICO, investors as a whole can control the resource flow that the DAICO company has access to at a given stage in the project. Investors can open or even turn off completely the flow of resources allocated to the project. Thus, companies have to comply in a much higher degree with their road map and come up with good products and proof of work along the way, since investors could shut down resources and even vote to refund the remaining resources to the token holders if the project goes downhill.
This should give DAICOs more value, since it makes them more serious and compromised than regular ICOs.
The Abyss is the first DAICO of its kind, taking place next week. It will be interesting to follow how the new parameters play out regardless of whether one participates or not in this particular DAICO.
Vitalik Buterin, cocreator and founder of y fundador de Ethereum, one of the biggest gurus in crypto currency, suggested improving the ICO procedure, giving the guidelines for the creation of ICO 2.0. The outcome is the DAICO Model.
The base idea of a DAICO is to be able to go through ICO procedures in a way that is much safer for invertors.
Polls are introduced into the system allowing token holders to participate in the core financial decision process,
allowing the investor to cast his vote under certain circumstances.
For example, in a DAICO, investors as a whole can control the resource flow that the DAICO company has access to at a given stage in the project. Investors can open or even turn off completely the flow of resources allocated to the project. Thus, companies have to comply in a much higher degree with their road map and come up with good products and proof of work along the way, since investors could shut down resources and even vote to refund the remaining resources to the token holders if the project goes downhill.
This should give DAICOs more value, since it makes them more serious and compromised than regular ICOs.
The Abyss is the first DAICO of its kind, taking place next week. It will be interesting to follow how the new parameters play out regardless of whether one participates or not in this particular DAICO.
Generally, DAICO prevents scam or you can get back your money back through smart contract when it's scam or you're not fulfill with these projects anymore. Additionally, DAICO can stop contributing when the projects reach hardcap.
In recent days I heard about DAICO. I still can not figure out what it is compared to the ICO. Can anyone tell me more about DAICO?
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