Preventing a 51% attack on DAICOs where the recipient of the funds can be changed?


#1

I would like to see DAICOs where the recipient of the raised funds can be changed by the token holders. This allows the token holders to replace developers without a refund. A refund would kind of blow the group apart and creates a coordination problem in establishing a new developer group for the token network.

However, changing the recipient address was specifically avoided in the original DAICO design to prevent 51% attacks.

I would like to propose a mitigation of 51% attacks, without the complicated and recursive nature of DAO splits. It’s late, so maybe this has obvious problems I’m missing.

Developer replacement or refund

In addition to simply voting “I want to change the developer to this address”, you can also vote “I want a refund if the developer is changed to this address” (this is a personal refund). This way, during a 51% attack that the 49% are aware of, they can exit if the attack is completed.