Rage Quitting

What rights do members have if they are not happy with the direction of Flamingo?

Flamingo has certain strong rights for members to withdraw their capital if they are unhappy with the performance or administration of Flamingo. This right—often called "rage quitting"—gives members a degree of control as to their participation in Flamingo and the use of any contributed capital.

What happens if I do not want to participate in an NFT purchase?

Even though Flamingo is member-directed and managed, Members are not obligated to participate in any proposed purchase. Once a purchase is authorized via the dApp, all members will have the right to opt-out of the purchase and receive any undeployed capital that they contributed to Flamingo back (i.e., "rage quit").

The right to rage quit is accounted for in the operating agreement and facilitated via the DApp and underlying smart contracts.

If I rage quit can I sell my interests in Flamingo?

If a member rage quits, the member's pro rata portion of any unallocated capital contribution will be returned to the member. The member's Flamingo Units are retired (i.e., "burned") and the member loses any right to participate in future purchase. If a member wants to sell their interest in Flamingo, it is permissible, but subject to approval by other members.

When can a member rage quit?

A member can rage quit Flamingo at any time, including after any NFT purchase. The only restriction is that any proposal that the particular member voted "YES" for is processed by Flamingo's smart contract initially.