The DIACO Market Place was inspired by the numerous ICOs that have either become worthless or were outright investment scams due in large part to the lack of oversight provided to ICO investors.
As a solution, the DIACO Market Place offers Consumer Protection to ICO investors by providing them with complete control of how monies raised by an ICO are consumed.
The DAICO Market Place combines: - a venue for companies (“Developers”) to launch an ICO, and - a portal for investors to participate in and then control the expenditure activity of monies raised by an ICO
User Interface: Created U/I using JS, React and Next that includes the following webpages: - New DAICO Creation: allows developers to initialize a new ICO and set other campaign parameters - Pending DAICOs: list/status of all DAICOs still in funding - Active DAICOs: list/status of all DAICOs that are fully funded and now dispersing funds to Developers - Individual DAICO Campaign: provides detail of an individual DAICO Campaign
The DAICO Market Place is governed by three interdependent smart contracts pre-deployed to the Quorum Distributed Ledger. • DAICO-ERC20: ICO smart contract that follows the ERC20 smart contract standard. • DAICO-Campaign: smart contract that maintains ownership of monies raised by the DAICO-ERC20 and allows Investors to control the dispersal of these monies to the Developer. - governs the monthly allocation rate (“tap rate”) given to the Developer - approves separate/one-off expenditure requests made by the Developer - opportunity to refund all remaining funds back to all investors • DAICO-Factory: a master smart contract that instantiates new DAICO-ERC20 and DAICO-Campaign contracts.
Key design elements: - all smart contracts are deployed by DAICO Market Place, eliminates Developer from altering the code - at no time is the Developer in control of un-allocated monies raised by the ICO
On a logic basis, the greatest challenge was the design of the inter-dependency between the three smart contracts and its connect to the U/I. However, we are most proud of the sophisticated U/I the we developed with the help of React and Next.
The DAICO team will work to expand the functionality of the DAICO Market Place: - add off-chain data collection - offer more optionality to the ICO and Campaign creation - provide more sophisticated Developer rating system - provide aggregated stats on all Campaigns launched
Currently, the DAICO team believes that a commercialized product can realize a small percentage of monies raised successful ICOs.