Hi all,
just trying to get my head around the DAO before I invest.
so its possible to take back your eth if you want to opt out of the dao in the future, does this mean you get the same amount of eth back that you invested or can that change go up and down?
It's fairly straightforward (I think!).
Say The DAO raises 100m eth in total and you invested 10m eth (10% of the total).
If The DAO agrees to give 50m eth (50% of the total) to the Slock.it Proposal then 50% of your investment (5m eth) will go to Slock.it (assuming you don't 'split' ahead of the proposal being accepted).
In return for your 5m eth invested into the Slock.it Proposal, you would get 10% of the Slock.it rewardTokens (a pro rated share). Any money that Slock.it brings into The DAO (under this proposal), you get 10% of the proceeds.
Your remaining 5m eth remains in The DAO and can be used to fund future proposals.
If you really hate the next proposal and/or the curators (or whatever), you can choose to 'split' from The DAO and effectively take out the remaining 5m eth. Although I don't think it's as simple as hitting a 'withdraw my remaining eth' button - you have to get your hands dirty and effectively splitter off into your own DAO etc etc, as far as I understand.
You cannot get back the 5m eth that went to Slock.it, although you do keep the rewardTokens (10% of any money the DAO makes off of the Slock.it contract you invested in) - unless you choose to transfer these to someone else.
Caveat: this is my interpretation of the White Paper. I suggest you give it a read before deciding whether to invest.Is it possible to return the invested funds?
Sale after going through Bittrex exchange.
If you get to return the funds, please let me know.
If your DAO tokens are on an Exchange then you're at the mercy of that Exchange in terms of rewardTokens, how they vote, whether they split, whether they go with a fork and what they decide to do with regards to reducing your holdings when proposals are accepted.
TLDR: don't leave your tokens on the Exchange, unless you're solely interested in trading DAO tokens.