Leaving a caper means using its exit right: a member who has voted hands in their tokens and their vote tokens, and receives their fair share of the caper's treasury plus the curve's price for the tokens, in one transaction nobody has to approve. A caper is a group of people who raise a treasury together and govern it on Radix, and the exit right decides what a stake in one is worth. This page answers what leaving involves, in the order people ask it.
Yes, at any time, once you have voted in it at least once. Leaving is one transaction you sign from your own wallet. It is not a proposal, so nobody votes on it, schedules it or approves it, and no founder or council can block it.
The contract checks three things: that the account receiving the payout signs the exit; that what you hand in is the caper's own token and its own vote token, not some other resource; and, since the redeploy of 21 September 2026, that the vote tokens come out of your own account. Caper tokens can come from another account that signs the same transaction, because they transfer; vote tokens cannot. There is no membership list to be removed from: your holdings and your signature are the credential. Read exit_open and exit in contracts/logic/src/lib.rs.
Because the exit needs vote tokens, and casting a ballot is the only way a member earns them. A position bought on the curve, swapped into, transferred in or brought over by migration carries none, and the exit is refused with "Exit requires vote tokens" rather than paying out nothing. The curve still buys those tokens back at any time; only the treasury share waits on a ballot.
Vote tokens cannot be earned after the fact, so a holder who means to redeem a share should vote while a proposal is open, not at the moment they want to leave. Trading earned vote tokens too until the redeploy of 11 September 2026, which removed it so that one purchase could not buy a stake and a claim on the treasury at once.
Two payouts from two places, settled in the same transaction:
Your treasury share goes straight into your account. If your account's deposit rules refuse an asset, that asset waits in the caper's account locker for you to claim. Read exit_apply in contracts/core/src/caper_dao.rs and exit in contracts/core/src/dao_treasury.rs.
It grows with the tokens you hand in and with the vote tokens you have earned, each measured against the caper's whole supply. Your exit share and your vote weight are the same measure: a ballot carries the weight of what its caster could take out of the treasury, so no member can vote with more force than they could leave with. Handing in part of a position redeems that part's share; there is no all-or-nothing exit. See voting for how the weight decides a ballot.
Yes. Each exit is measured against the supply still outstanding when it runs, and every earlier exit has already retired its tokens and vote tokens from that supply. Two members with identical positions therefore take different amounts, and the one who leaves later takes more. Nothing is stranded and the treasury cannot be overdrawn, but the incentive is to stay rather than to be first out. A rage quit, which this right descends from, pays a flat slice, so there the order of departure makes no difference.
From casting a ranked ballot, one per account per proposal. The ballot pays the caper's vote fee into its treasury and mints the caster's vote tokens in the same call. The caper's admin role can also mint them; members cannot call that path. Vote tokens are soulbound: only the caper's own component can deposit them into an account, so they cannot be sent, airdropped or bought.
If your account's deposit rules refuse the vote token, the ballot still counts and its vote tokens are lost, with no second chance to claim them. Allow the resource before casting. What earns vote tokens changed several times in August and September 2026, which is why older third-party descriptions disagree; since 11 September only ballots have earned them. Voting has the fuller account.
No. Nothing in the exit checks a date, a notice period or a vesting schedule, and no other member can delay it.
Voting locks nothing either. A ballot is a plain wallet transaction and your tokens stay in your account. Tokens you sell or hand in after casting stop counting toward that ballot, so exiting while a vote is open is allowed and shrinks the weight of the ballot you cast. See voting for how ballots are counted.
Many DAO exit provisions exist on paper and cannot be reached in practice, because the people the exit inconveniences have to approve it, or because it runs through a multisig that can decline to sign. See how DAOs fail for the shapes that recur.
The lineage is Moloch's rage quit, and the difference is what the right is attached to. A rage quit is usually tied to a specific proposal and window: you may leave because you object to something that just passed, during the grace period before it executes. Outside that window there is nothing to exercise.
A caper's exit is not attached to a proposal. It is available on any day, whether or not anything is being voted on and whether or not you object to it. The essay The Exit Right works through how that changes the rest of a caper's governance.
Sell tokens on the curve. A sale is separate from an exit: it does not burn your vote tokens or touch your treasury claim. See trading. The exit settles everything at once and ends the membership.