Today marks the launch of the Zodiac Exit App. This companion app completes the Zodiac Exit pattern, which allows DAO members to redeem a designated token for a proportion of a Safe’s treasury. To incorporate this pattern in your DAO, equip the mod through the Zodiac App available on Gnosis Safe, and then members can visit exit.gnosisguild.org when they choose to exit.
DAOs often prioritize their entrances, but what about their exits?
In late 2021, ConstitutionDAO memed itself into history when it bid on a copy of the U.S. Constitution. The speedrun DAO broke the record for the largest crowdfund for a physical object in a 72-hour period, onboarding thousands into crypto and raising nearly $43 million from 17.5K contributors. But after its failed bid, the lack of clarity over the refund process resulted in confusion. Its exit plan, as it turns out, was not nearly as clear as its entrance.
To create new patterns around onboarding and offboarding, Gnosis Guild debuted the Zodiac Exit Module, a modular exit mechanism similar to MolochDAO's rageQuit() functionality. Had ConstitutionDAO equipped its multisig Safe with the Exit Module, supporters could have redeemed their $PEOPLE tokens for a proportion of the Safe treasury’s digital assets, instantly and permissionlessly.
The good news is that exit patterns are already experiencing swift cultural development. Not even three months later, AssangeDAO announced that it would equip the Exit Module to its Safe if its historic bid had not won, signaling perhaps the beginning of a new model.
Today, we continue to nurture new exit patterns with our latest contribution to the Zodiac open standard: the Exit App. While the Exit Module allowed DAO operators to enable an exit mechanism, the Exit App provides DAO members a friendly interface to even more easily exit. This companion app now completes the Zodiac Exit pattern by offering interfaces for all of its functionalities.
Most significantly, the Zodiac Exit pattern now also supports NFT exits. This means that, for the first time, members can redeem an NFT for their proportion of a Safe's treasury, a feature that would greatly benefit those currently unable to exit organizations whose membership is based on holding an NFT. One could imagine this in the case of storied NFT projects like Loot: the exit from one quest to spark the start of another.
◍ EASY EXITS: While redeeming tokens was always possible on a contract level for Safes equipped with the Exit Module, the Exit App provides members a nice user interface to initiate the transaction. Exiting members can now simply log into the standalone Exit App at exit.gnosisguild.org and leave a DAO with their proportion of tokens.
◍ NFT EXITS: Members can now use NFTs to exit from organizations that use non-fungible tokens for membership. In this case, a Safe's assets are divided equally per NFT among an entire NFT collection. For example, if the circulating supply of an NFT collection is 2, the account redeeming one NFT will receive 50% of the Safe's assets.
◍ SAFE EXITS: Members who hold a DAO's designated token in their own Safe can now easily exit too. In order to redeem, the member simply opens the Exit App as a Safe App, inputs the DAO's Safe address, and then selects the token(s) they want to claim.
◍ EXPERIMENTAL "EXITS": The Exit Module, as a reminder, also has custom settings that can introduce new forms of DAO co-ownership and holding in common, including decentralized token swaps and other DAO-to-DAO innovations. ✨ Experimentation is welcome. ✨
Navigate to the Exit App
• If you are a member exiting with a web3 wallet, visit the standalone version of the Exit App here: exit.gnosisguild.org.
• If you are a member exiting a Safe while using a Safe account to store your redeemable assets, find the Exit App through the Safe Apps list in your Gnosis Safe.
Attach Safe and wallet
To attach an Exit-enabled Safe, select the correct network at the top dropdown menu and enter the Safe's address into the
Account Address field. (Note: The Exit App can only be used with Safes equipped with the Exit Module.) Next, attach your web3 wallet (e.g. MetaMask) by clicking on "Connect Wallet" in the left panel.
• If exiting with an ERC-20 token, enter the amount that you would like to claim in the
Exit Amount field in the left panel and click on the appropriate checkbox(es) under "Select assets to claim" in the right panel.
• If exiting the DAO by redeeming an NFT (ERC-721), you must select the intended NFT to redeem by using the dropdown menu under "Exit Token" in the left panel and click on the appropriate checkbox(es) under "Select assets to claim" in the right panel.
Verify transaction details
Verify that the transaction details are correct, including the
Exit Token and
Amount, the claimable asset(s), and the
Initiate & execute transaction
Click "Exit and Claim Assets" and then approve & execute the transaction with your web3 wallet. Once the transaction is completed, the transaction button in the Exit App will now say "Exit Successful!" The Exit App will update the values of both your balance and the attached Safe account's treasury.
For detailed step-by-step instructions, visit the Zodiac documentation.
Exiting a DAO remains a critical operating principle for decentralized organizations. As DAOs continue to experiment with new membership arrangements and engagement levels, their exit mechanisms should become as simple and as transparent as their entrance. The Exit App is another vital step on this pathway.
The Zodiac Exit App completes the Zodiac Exit pattern, which allows DAO members to redeem a designated token for a proportion of a Safe’s treasury. To incorporate this pattern in your DAO, equip the mod through the Zodiac App available on Gnosis Safe, and then members can visit exit.gnosisguild.org when they choose to exit.
Security: The Zodiac Exit Mod and App audit has been performed by the G0 group. The audit results are available as a PDF in this repo.
Legal disclaimer: This post and the tutorial is for informational purposes only. It may contain errors. It is not a risk assessment, nor investment advice. We take no liability for any losses arising in connection with the information provided or any other action related thereto.