Only those communities who are willing to be held accountable for their actions are brave enough to implement ragequit. Don’t disappoint us.
What does ragequit mean for DAOs?
Ragequit is a term used to describe the act of a member of a DAO quitting in a fit of anger. This can happen for any number of reasons, but usually it is because the member feels that they are not being listened to or that the decisions being made are not in line with their own personal goals.
It is a form of minority protection, meaning a member can ragequit (and withdraw their proportional stake) before a proposal is executed, even if the majority has approved it.
It is a way for a DAO to feel pain.
Outline the main points on 'right to exit' in DAOs.
There are a few key points to consider when it comes to the "right to exit" in DAOs:
The right to exit should not only be clearly defined in the DAO's governing documents, it should be part of the core protocol and smart contracts.
Members should have the ability to exit the DAO at any time, for any reason.
There should be no penalties or repercussions for exiting the DAO.
Members should be able to easily and quickly exit the DAO if they so choose.
Outline the importance of 'ragequit' in Moloch DAOs.
Ragequit is an important tool in Moloch DAOs because it allows members to leave the DAO and take their share of the funds with them. This ensures that members are not locked into the DAO and can leave if they are unhappy with how it is run. It also provides an incentive for members to stay in the DAO and work towards its success. It incentivises collaboration to avoid a member using the nuclear option of ragequit.
Any token in the treasury can be Ragequit and Ragequit can be redirected to any account. Special care should be used in which tokens are being ragequit (the treasury may have malicious tokens) Also because the tokens can be sent to any address special care should be taken that the address is not a malicious contract that will behave unexpedidly when recieving funds.