In Collective DAOs, if the DAO decides to change the investment currency, adjust the investment theme, or close the DAO, a Liquidation proposal can be used to liquidate the current DAO fund pool. Liquidating the DAO fund pool will lead to:
- DAO fund pool has been emptied.
- All members' deposit balances will be transferred to the refund contract for member refunds.
- All Members except the Summoner will be removed from the DAO (lose Member status).
Who Can Liquidate
In Collective DAOs, the liquidation is collectively decided by the DAO's Member group through proposals and voting.
When To Liquidate
Liquidation proposal can only be submitted when there are no currently running Operation and Setting proposals.
How To Liquidate
On the Management page of Collective DAOs, select the Operation tab, you can see the Liquidate proposal. Click on the card to enter the proposal submission page.
You can see the total amount and currency of this liquidation in Liquidation Info.
You can fill in the liquidation reason and in the Reason section for others to view.
Click Submit to confirm the wallet transaction for the proposal submission. After successful submission, anyone can see the proposal on the proposals list page and enter the voting page to view the voting status of the proposal. The Member groups of the Collection DAO can vote on the proposal. Once the vote is passed and successfully executed, the DAO fund pool is liquidated. All members of the DAO can refund on the DAO’s My page / Refund. See Refund for more details about refund in Collective DAO.
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