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Comment: added table of contents, and "1. Create a Proposal to Split the DAO"

 

  1. Author: Taylor Monahan

Source: Reddit ( 

When do you need this?

You need this instruction if you want to split from The DAO, perhaps because you don't agree with a proposal or with the curators. It is a way to ensure the decentralization and autonomy of The DAO.

One should note that splitting is not entirely hard, but it has a number of steps and is time consuming. It takes (minimum) 7 days to Split the DAO and arrive at a place where your Ether and Reward Tokens are now in your complete control. However, it takes a minimum of 48 days to "cash out" Ether into a standard account where you can send them, trade them, etc. You will need to take action, wait 7 days, take more action, wait 27 days, take more action, wait 14 days, and then you will finally have ETH in an account you control.

If you simply want to cash out, you may want to consider trading your DAO Tokens on an exchange rather than splitting. 

Ingredients

...

You need: 

  • the Mist browser. Download and install it Mist / Ethereum Wallet: Downloaded, installed, and sync with the main your main net.
  • "The DAO" added as a Watch Contract
  • "The DAO" added as a Watch Token
  • Your token address
  • some Some Ether at your token address

Directions

 Create a proposal.

The proposal has the newCurator flag as true and the recipient specifying yourself as the curator of the new DAO.

 Vote in favor of this proposal.

 

 Wait 1 week. 

("Debating Period")

 Call the function splitDAO

with the parameters: proposalID and newCurator. The proposal ID is that of the proposal from #1. The newCurator is address of the new curator account (your account).
You (the one who called the proposal) will automatically create the new DAO. Your portion of Ether and the portion of reward tokens move to the new DAO. Your original DAO tokens are destroyed.

 You are now officially split

  • to cover cost of gas
  • Time.

Table of Contents

...

  1. Create a Proposal to Split the DAO

  2. Find the ID of your Proposal to Split

  3. Vote “YES” on your new proposal

  4. Wait 1 week

  5. Call the Split DAO Function

  6. You are now officially split & have your ETH + reward tokens & are no longer part of the original DAO

...

 27 day creation period

happens. In this case you would just wait. (note: Let's say you and your buddy want to split to join a 2-man DAO. If he also voted YES on the proposal in 2, he would now call splitDAO to also join your new DAO.)

 After 27 days,

you now have the ability to do anything, like create new proposals.
If you want to get all your ETH out...

You (the curator) add your address to the whitelist.

You (the curator) add a proposal to send all your ETH to an address

 (hopefully your own address ;)).

Wait 14 Day Debating Period.

(Splitting only has a 7 day debate period. Sending ETH has 14 days)

You (the curator and only member of the DAO) vote yes on the proposal. 

...

  2. Wait the 27 Day Creation Period

  3. Add your address to the whitelist (if you don’t want to send it to the new curator address)

  4. Create a new Proposal to send all your ETH to an address
  5. Vote Yes on the new proposal
  6. Wait the 14 day debating period
  7. Execute the proposal
  8. Your ETH have now been sent to the address specified.

Directions

...

1. Create a Proposal to Split the DAO

Additional Information

Instructions

  1. Go to ‘Contracts’ and then click on the ‘The DAO’ contract.

  2. On the right side, click the “Pick a Function” dropdown.

  3. Select “New Proposal”

  4. Recipient: enter the address new curator for your DAO (your address)*

  5. Amount: Leave Blank

  6. Description: Leave Blank, or enter a human readable descriptor like “0x762f split proposal” so you know it is yours later. **

  7. Transaction Data: Leave blank

  8. Debating Period: ‘604800’ this is 1 week in seconds, the minimum amount of time.

  9. New Curator: Check this box!

  10. Choose your token account to execute from

  11. There is no need to send any ETH

  12. Ensure you have some ETH in your token account for gas.

  13. Click “Execute”

  14. A pop up will appear confirming gas, etc. Enter your password and press "SEND TRANSACTION".

* If you are just splitting the DAO with just yourself, you would enter your address and therefore become the new Curator. Make sure you have access to this account! If you are creating a new DAO with other people, this should probably be a multi-sig wallet held by multiple trusted people.

** Anyone who enters the Proposal ID will be able to read this descriptor, so don’t include personal information.

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