It is an improvement of the fundraising model of an ICO that incorporates certain aspects of DAO.
The idea was suggested by Vitalik Buterin in January 2018 and aims to make ICO safer by involving investors in the initial process of project development.
In addition, it will allow the token holders to vote for the refund of the funds provided if they are not satisfied with the progress made by the developers.
For projects that implement the DAICO concept, it will force a level of responsibility on the developers and give the token holders greater reassurance that they are guaranteed to see at least a viable minimum product or that their money will be returned to them.