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About the Zodiac Exit App
This app works in companion with the Exit Module.
The Zodiac Exit App provides a friendly interface to redeem a designated token for a proportion of an avatar's (Safe or other account’s) ERC-20 and native digital assets, similar to Moloch DAO's rageQuit() function. With the Exit App, members can even exit by redeeming an NFT (ERC-721) they hold. Learn more about the Zodiac Exit Pattern.
This tutorial is for using the standalone Exit App site or the Exit App available as a Safe App.
Note: The Exit App can only be used with Safes equipped with the Zodiac Exit Module. Click here for more information on the Exit Module.
If you need support or have questions about this tutorial or Zodiac, join the Gnosis Guild Discord: https://discord.gg/gnosisguild.
There are two ways to find the Exit App depending on your use case.
- Standalone Version: If you are a member exiting with a web3 wallet, visit https://exit.gnosisguild.org. Using the standalone version of the Exit App will be the most common.
- Safe Apps Version: If you are a member exiting a Safe (formerly Gnosis Safe) while using a Safe account to store your redeemable assets, find the Exit App through the Safe Apps list in your Safe. (Instructions: On your Safe's left menu, click the APPS option. Here you'll find apps available through Safe. Search or scroll until you find the Exit App.)
Attach Safe & wallet
When you open the Exit App, it will look like this:
The Exit App prompts you to enter an Account Address. The address refers to the Exit-enabled Safe account from which you are exiting.
Enter the Safe's address into the Account Address field, and click "Attach Account".
If the Safe is on a network other than Mainnet, you can either select the correct network from the dropdown menu at the top or preface the address with its chain ID. For example, a Safe on Rinkeby could also be entered as rin:0xF44…dbd4, which will automatically switch the dropdown to the correct network.
Be sure to verify the Account Address is correct. If you need to find the Account Address of the Safe that holds the assets you wish to claim, inquire with the account admins, find an official resource, or look up the Safe on a block explorer like https://etherscan.io.
Note: You will receive the following error if the Safe does not have the Exit Module equipped: "The account address entered is not a Safe on [current network]. Please confirm it's correct, or use the dropdown above to attach a Safe deployed on a different network."
Connect Web3 Wallet
Next, attach your web3 wallet by clicking on "Connect Wallet" in the left panel. If you're exiting while using a Safe account, you do not need this step, because you are already connected via the Safe App.
In this tutorial, we'll use the ALUM token, a test token on the Rinkeby test network.
Redeemable Asset
Once your web3 wallet is connected, the Exit App will indicate which token(s) you can redeem for a proportion of the Safe's assets, as well as your balance and the token's market value. The process for selecting your token will be slightly different depending on whether you're exiting with an ERC-20 token or ERC-721 (NFT), both outlined below.
Token Exit (ERC-20)
Enter the amount that you would like to redeem in the "Exit Amount" field in the left panel.
Then select or unselect the appropriate checkbox(es) under "Select assets to claim" in the right panel. This ensures you are redeeming your token for the intended digital asset(s) of your choice.
Important Notes:
- If you do not select any assets to claim, you will receive a proportion of the Safe's native asset (ETH or something similar, depending on your network).
- You can claim other proportional assets in a separate transaction only if you have any remaining designated tokens.
Verify that the "Claimable Value" is correct.
In the example below, the account is exiting with 500 ALUM.
NFT Exit (ERC-721)
If you are 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.
Then click on the appropriate checkbox(es) under "Select assets to claim" in the right panel. This ensures you are redeeming your NFT for the intended digital asset of your choice.
Verify that the "Claimable Value" is correct.
Important Notes:
- If you do not select any assets to claim, you will receive a proportion of the Safe's native asset (ETH or something similar, depending on your network).
- You can claim other proportional assets in a separate transaction only if you have any remaining designated tokens.
- A Safe’s assets are divided equally per NFT among an entire NFT collection. In the example above, the account is exiting with the WAND #3 NFT. Because the circulating supply is 3, the account can choose to claim 1/3 of the attached Safe's assets.
Claim assets
Initiate Transaction
Verify that the transaction details (the Exit Token and Amount, the claimable asset[s], and the Claimable Value) are correct. Click on "Exit and Claim Assets".
The Exit App will ask you to "Approve token expense".
If you’re using a web3 wallet, confirm when your wallet prompts you to give access to the redeeming token in your wallet.
The screenshot below is an example using the ALUM token and MetaMask.
You must now wait for the approval transaction to be executed.
Note: If you’re exiting while using a Safe, the confirmation of the approval transaction and the following Exit Transaction are batched together.
Execute Exit Transaction
Once the approval transaction has completed, the actual Exit Transaction will then be triggered automatically. The status on the transaction button will now say "Exiting…" To finally execute the Exit Transaction, choose "Confirm" when your web3 wallet prompts you again.
Verify transaction
Once the transaction has 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.
Glossary of Terms
Here is a list of terms that you’ll see the Exit App tutorial use that you can refer back to if any are unclear.
- Zodiac Exit: a Zodiac pattern that allows members to redeem a designated token for a proportion of an avatar's (Safe or other account's) ERC-20 and native digital assets, similar to Moloch DAO's rageQuit() function.
- Zodiac Exit Mod: a Zodiac module that can be equipped on a Safe account using the Zodiac App, or equipped on another compatible web3 account.
- Exit App: an application that provides members a friendly interface to redeem a designated token from a Safe equipped with the Exit Module.
- Redeemable assets: an avatar’s designated fungible or non-fungible tokens that an exiting member can redeem for an avatar’s claimable assets.
- Claimable assets: an avatar’s assets that an exiting member can claim in exchange for the redeemable asset.
- Circulating supply: the dynamically calculated number of tokens available and circulating in the market (not to be confused with max supply or total supply).
- Safe: a web3 avatar or programmable account with multi-signature functionality (a.k.a. a Safe).
Questions?
If you need support or have questions about Zodiac, join the Gnosis Guild Discord.
