I can't understund how we can give millions to a project team on the basis of a whitepaper and a roadmap. Fundraising should be done step by step and capped and not one ICO with an astronomic amount. Or it's for a project with a product almost already released and a ROI clearly established. It is crazy !
I started to work on a DAO in july 2016 and released it in february 2017. This works on a totally different way than "The DAO". It is not an investment fund. Fundings are linked to proposals of contractors. Investors don't put money into the smart contract and then we have to choose together the contractors and proposals. Investors send money to DAO contractors (via the DAO smart contract which organize the funding process) gradually according to their proposals. For each step of the contractor's work, the DAO token holders decide by voting to continue or to stop funding and ordering the work described in the contractor proposal. So your money is safe and the contractors are incentivized to work well. The creation of new tokens can be even capped using a moderator smart contract for instance to ensure decentralization.
https://forum.passdao.org/https://github.com/pacifics/Dao
