DAICO approach

https://ethresear.ch/t/explanation-of-daicos/465

“After the contribution period, the contract has one major state variable: tap (units: wei / sec), initialized to zero. The tap determines the amount per second that the development team can take out of the contract.

There is also a mechanism by which the token holders can vote on resolutions. There are two types of resolutions:

• Raising the tap

• Permanently self-destructing the contract (or, more precisely, putting the contract into withdraw mode where all remaining ETH can be proportionately withdrawn by the token holders)

Either resolution can pass by some kind of majority vote with a quorum (eg. yes - no - absent / 6 > 0). Note that lowering the tap by vote is not possible; the owner can voluntarily lower the tap, but they cannot unilaterally raise it.

The intention is that the voters start off by giving the development team a reasonable and not-too-high monthly budget, and raise it over time as the team demonstrates its ability to competently execute with its existing budget. If the voters are very unhappy with the development team’s progress, they can always vote to shut the DAICO down entirely and get their money back”.