WEEZI
  • Instructions for DAO Managers
  • Tokenomics
  • Basics
    • 1. Basic Management Information
    • 2. How to create your own DAO
  • Setup
    • 1. Frame wallet setup
    • 2. Alternative way to access your DAO
    • 3. Introducing new assets for deposit
    • 4. Setting up the reporting system
  • CT token Management:
    • 1. Token request procedure
    • 2. Asset withdrawal over OTC
    • 3. Burning CT tokens
  • Advanced DAO Procedures
    • 1. Main DAO and product DAOs
    • 2. Rage Quit Procedure
    • 3. Withdrawing Carry fees
    • 4. Transfer in DAO
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  1. Advanced DAO Procedures

2. Rage Quit Procedure

Previous1. Main DAO and product DAOsNext3. Withdrawing Carry fees

Last updated 3 years ago

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IMPORTANT: Before the procedure is explained please remember these two points:

  • The fees of the Rage Quit (in gas) can be EXTREMELY high.

  • The procedure can be done only if all the assets allocated to DAO are withdrawn from the strategies and swap pools with no active loans. It means that 100% of the assets must be allocated to liquidity, otherwise the process will be invalid by default.

This procedure allows for the DAO CT Shareholder to quit the DAO in a one-sided process. It is highly advised not to refer to this procedure unless there are no other options available.

Step 1 - Authorization

Authorize to the DAO using your CT holding wallet at Aragon Framework.

Step 2 - Navigate to Redemptions section

Select the "Redemptions" section at the left side panel of Aragon Framework. You will see all th assets available for redemption at the DAO wallet.

Press the "Redeem" button to retrieve funds and return the CT Tokens held by the connected wallet.

Step 3 - Set the redemption amounts

After you press the "Redeem" button you will be able to select the amount of your CT Tokens to be burnt in exchange for the Stable coins that will be sent to your wallet.

Note that the procedure of Rage Quit requires you to pay all the gas fees required for the exchange, as it is a one-sided process unlike the normal fund withdrawal procedure.

After you enter the amount of CT Tokens you wish to burn the amount of redeemable Stable Tokens will be shown to you. The exchange ratio of the procedure is calculated according to the percentage of the overall CT held by your wallet and directly affects the redeemable Stable Token amounts.

The percentage is calculated as [Your CT amount / Overall CT amount]*100

After setting the amounts press the "Redeem Tokens" button.

Step 4 (Final) - Sign the transaction

Sign the transaction you create by quitting in your wallet interface. After the signature is verified the exchange will take place.