What Are Decentralized Autonomous Initial Coin Offerings (DAICO)?
Decentralized Autonomous Initial Coin Offerings (DAICO) are a new form of fundraising for blockchain-based projects. They combine the features of an initial coin offering (ICO) with those of decentralized autonomous organizations (DAOs). The goal is to create a more secure and transparent way to raise funds, while also providing investors with greater control over how their money is used.
The DAICO model was proposed by Ethereum co-founder Vitalik Buterin in 2018 as a way to improve upon traditional ICOs. In this system, project developers set up smart contracts that allow them to collect funds from investors in exchange for tokens or coins. These tokens can then be used within the platform or exchanged on cryptocurrency exchanges. Investors have voting rights which they can use to decide how much funding should go towards development and other activities related to the project. This allows them more control over where their money goes than traditional ICOs do, making it less likely that funds will be misused or wasted.