Decentralized Autonomous Organization + Initial Coin Offering = DAICO.
Proposed by Vitalik Buterin - https://ethresear.ch/t/explanation-of-daicos/465
This is an working version that has not been audited, use at your own risk.
npm init
npm install zeppelin-solidity
DAICO.sol has a group of Management (the heads of the team) who control the contract together.
- A tap of money every month for expenses related to the project is allowed to be pulled out
- Raise money through an ICO sale with specific conditions
- Ability to lower the tap but not raise the tap without a vote from token holders
- Create proposals for where money should go each month (ex. payroll, sponsorship of an event, office expenses)
- Proposals can have recurring payments
- Can remove themselves from the project
- A majority vote can remove or add a management member
Investors have voting rights to dissolve the project based on their token share.
- If they think the company is buying lambos instead of working on the project they can request their money back
- They can raise the tap if the project members request it
- Employees and management should not vote
- Investors vote on spending proposals