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.
You need:
Create a Proposal to Split the DAO
Find the ID of your Proposal to Split
Vote “YES” on your new proposal
Wait 1 week
Call the Split DAO Function – You are now officially split & have your ETH + reward tokens & are no longer part of the original DAO
Wait the 27 Day Split Creation Period
Add your address to the whitelist (if you don’t want to send it to the new curator address)
Go to ‘Contracts’ and then click on the ‘The DAO’ contract.
On the right side, click the “Pick a Function” dropdown.
Select “New Proposal”
Recipient: enter the address new curator for your DAO (your address)*
Amount: Leave Blank
Description: Leave Blank, or enter a human readable descriptor like “0x762f split proposal” so you know it is yours later. **
Transaction Data: Leave blank
Debating Period: ‘604800’ this is 1 week in seconds, the minimum amount of time.
New Curator: Check this box!
Choose your token account to execute from
Do not send any ETH (or it may fail)
Ensure you have some ETH in your token account for gas.
Click “Execute”
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.
As we can see nothing funky is going on in Proposal 1 above. Taylor determined that Proposal 1 was a malicious attack by an untrustworthy curator, and decided that splitting the DAO would be her best choice, as seen in Proposal 2.
Go to ‘Contracts’ and then click on the ‘The DAO’ contract.
On the right side, click the “Pick a Function” dropdown.
Select “Vote”
Proposal ID: the ID of the proposal to split the DAO.
Supports Proposal: Check the ‘Yes’ button.
Choose your token account to execute from
Do not send any ETH (or it may fail)
Ensure you have some ETH in your token account for gas.
Click “Execute”
A pop up will appear confirming gas, etc. Enter your password and press "SEND TRANSACTION".
If you want to make sure you voted…
Enter your proposal ID on the left side
Look under “YEA” and make sure it doesn’t say “0”
...or whatever you specified under “Debating Period” when you created the proposal
Go to ‘Contracts’ and then click on the ‘The DAO’ contract.
On the right side, click the “Pick a Function” dropdown.
Select “Split DAO”.
Proposal ID: enter the proposal ID of your proposal.
New Curator: Enter the same address that you entered under "Recipient" in Step 1: Create a Proposal to Split the DAO.
Do not send any ETH (or it may fail).
Ensure you have some ETH in your token account for gas.
Click “Execute”.
A pop up will appear confirming gas, etc. Enter your password and press "SEND TRANSACTION".
The DAO is now officially split….as long as the voting deadline is over, the new curator is different from the old one, the transaction sender has voted in favor of the proposal, and that the sender on of the transaction has not voted on another proposal with a deadline after the proposal to split the DAO.
Your ETH and reward tokens and are no longer part of the original DAO and you are the curator of the new DAO.
For some reason, my Get New DAO Address was not working on the Test DAO. In case this remains an issue, here is how I found my address:
If this is a one-man split, you would simply wait the 27 days. However, if other people want to join your new DAO as well, they could provided that they also voted YES on the proposal in Step 3. Those people would now also Call the Split DAO Function to join your new DAO.