Rage Quitting

What rights do members have if they are not happy with the direction of Kings' Azit DAO?

Kings' Azit DAO has certain strong rights for members to withdraw their capital if they are unhappy with the performance or administration of Kings' Azit DAO. This right—often called "rage quitting"—gives members a degree of control as to their participation in Kings' Azit DAO and the use of any contributed capital.

What happens if I do not want to participate in an investment?

Even though Kings' Azit DAO is member directed and managed, members are not obligated to participate in any proposed investment. Once an investment is authorized by a majority vote of the members, all members will have the right to opt out of the investment and receive any undeployed capital that they contributed to Kings' Azit DAO back (i.e., "rage quit").

The right to rage quit is accounted for in the operating agreement and facilitated via the DApp and underlying smart contracts.

If I rage quit can I sell my interests in Kings' Azit DAO?

If a member rage quits, the member's original unallocated capital contribution will be returned to the member. The member's Kings Units are retired (i.e., "burned") and the member loses any right to participate in future investments.

The member will retain any previous rights to proceeds from investments that occurred before rage quitting, as detailed further here.

When can a member rage quit?

A member can rage quit Kings' Azit DAO at any time, including after any funding proposal. The only restriction is that any proposal that the particular member voted "YES" for is processed by Kings' Azit DAO smart contract initially.