DAICO

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.

To Install

npm init
npm install zeppelin-solidity

Functionality

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