The DAICO is a combination of DAO + ICO which is known as a Decentralized Autonomous Organization + Initial Coin Offering. It means the DAICO purpose is not to ensure the activity of fraudulent, duplicity, imposture etc but it can end these type of activities in ICO marketing.
History of DAICO
As we mentioned above a little summary of DAICO that is newborn ICO Marketing token process. So, we can say that the DAICO is a well-improved or raising version of ICO (initial coin offering) model. Alternatively, we can say that it absorbs aspect of Decentralized Autonomous Organization but the major problem is there that what is DAO?? Don’t worry!! It is a part of digital cryptocurrency company which is infant by new law set within blockchain or peer to peer development. With Explaining this thought, DAICO a broad range of business marketing model where you can audit your business financial system publicly with help of DAICO.
Now it comes to DAICO launching, that idea was published by Vitalik Buterin in January 2018 which is a co-founder of Ethereum cryptocurrency. The main purpose of this DAICO is making a secure initial development procedure for ICO project to involve investor much more on this platform. It offers to the investor, trader and token holder for an investment fund and refund process to developer or users which are trying to progress in ICO marketing. Furthermore, its build more trustful business as per user or customer bases.
DAICO Work Procedure in ICO Development
In this platform many key elements have that develop the DAICO development contract is produced by a single development team. It starts with the smart contract in a contribution mode where investor sends the fund in exchange development project for specific network coin of cryptocurrency. In this transaction, the DAICO store all the record of a transaction but, when the fundraising is over then the smart contract stop the fundraising then do prohibit investing from anyone which is called “Tap Variable”.
This “Tap variable” predetermine the funding amount where a developer can withdraw by “Coin offering” fund in per second because the limit of funding is voted to increase the fund value by the investor when it comes to zero. This key feature makes the ICO in a decentralized and autonomous form which is called a DAICO.
Elements of DAICO
In this ICO marketing development, we have defined some key element of Decentralized Autonomous Initial Coin Offering.
(A). The voting system is fully democratic that is decide the funds from the get to go because on this platform everyone has complete trust on every point and centralized team.
(B). The all fund, investment transaction doesn’t release in a lump sum.
(C). It is the best element of this platform which is fully based on “Crowdfunding” to contribute or refund the money alternatively the contribution also we can say that it is a golden opportunity element to provide a refund.
Marketing Component with DAICO
The DAICO marketing developer holds a larger part of distributed ICO tokens that give the perfect fund earning option with help of “Smart Contract” and give a potentially vote for small contributor funding. In the ICO marketing field, people and investor should know that the price is rising or returning to the right decision when voting is increasing the TAP amount.
Challenges for Future
A determination to vote on “Tap Variable” that progress can only be initiated by DAICO project developers.
In this, average limit by which the tap variable can be extended at a time for stop abuse.
In the DAICO, the regularity of implied tax increases is limited which is no more in a week.
The investor or trader tokens can be managed for the vote that not those supported by DAICO project developers.
Contributors of DAICO will be notified in the progression of a planned poll.
When contributors of DAICO decide to eliminate the development project, then the Smart Contract will manage to withdrawal and return their money.