decentralized autonomous organization (DAO)</strong></a> to withdraw part or all of their stake with their share of the assets and quit participating in a proposal before it goes through.</p>\n<p>The ragequit process was introduced in the V1 <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-moloch-dao/">Moloch DAO</strong></a> framework and has become one of its <strong>integral parts</strong>. This option is now available on a number of other DAO frameworks, including Tribute DAO and Flamingo DAO. In many cases, ragequit is listed as &ldquo;Exit&rdquo;.</p>\n<p>Members of the Moloch DAO can invoke the ragequit at any point in time, <strong>as long as they have not voted &ldquo;Yes&rdquo; on an active proposal</strong>. 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One?","featured_image_id":11310,"status":"published","chapter_id":7,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/ico-vs-ido","featured_image":{"id":11310,"uuid":"315e8a2b-93a1-4870-be48-a2a09d801663","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/ico-vs-ido-featured-image.jpg","path":"crypto/storage/optimized/ico-vs-ido-featured-image.jpg","original_path":"crypto/storage/original/ico-vs-ido-featured-image.jpg","name":"ico-vs-ido-featured-image.jpg","original_name":"ico-vs-ido-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"64.39KB"},"youtube_video":null},{"slug":"what-is-an-airdrop","title":"What are Crypto Airdrops and How to Get Them?","featured_image_id":11359,"status":"published","chapter_id":7,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-an-airdrop","featured_image":{"id":11359,"uuid":"7b43c968-1275-4d3e-acb1-1707a43a4014","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/what-is-an-airdrop-featured-image.jpg","path":"crypto/storage/optimized/what-is-an-airdrop-featured-image.jpg","original_path":"crypto/storage/original/what-is-an-airdrop-featured-image.jpg","name":"what-is-an-airdrop-featured-image.jpg","original_name":"what-is-an-airdrop-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"66.05KB"},"youtube_video":null},{"slug":"how-to-get-free-crypto","title":"How to Get Free Crypto Assets?","featured_image_id":6542,"status":"published","chapter_id":7,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-get-free-crypto","featured_image":{"id":6542,"uuid":"4fceb9ab-391e-4ef9-b00d-c871a49878a3","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-get-free-crypto.o.jpg","path":"crypto/storage/media/how-to-get-free-crypto.o.jpg","original_path":"crypto/storage/media/how-to-get-free-crypto.jpg","name":"how-to-get-free-crypto.o.jpg","original_name":"how-to-get-free-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"93.93KB"},"youtube_video":null},{"slug":"how-to-arbitrage-crypto","title":"What is Crypto Arbitrage: The Main 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Crypto?","featured_image_id":11394,"status":"published","chapter_id":7,"language":"en","order":7,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-fud","featured_image":{"id":11394,"uuid":"defd32c5-d3e1-4e66-9f58-e2ee316bad3a","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/what-is-fud-featured-image.jpg","path":"crypto/storage/optimized/what-is-fud-featured-image.jpg","original_path":"crypto/storage/original/what-is-fud-featured-image.jpg","name":"what-is-fud-featured-image.jpg","original_name":"what-is-fud-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"65.30KB"},"youtube_video":null},{"slug":"investing-in-cryptocurrency","title":"Investing in Cryptocurrency: How to Manage Your 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Pulls?","featured_image_id":6555,"status":"published","chapter_id":7,"language":"en","order":10,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-avoid-rug-pulls-in-crypto","featured_image":{"id":6555,"uuid":"80cbed9d-3b4b-45d9-9a85-d2d8108c0f32","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","path":"crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","original_path":"crypto/storage/media/how-to-avoid-rug-pulls.jpg","name":"how-to-avoid-rug-pulls.o.jpg","original_name":"how-to-avoid-rug-pulls.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"111.99KB"},"youtube_video":null},{"slug":"how-to-avoid-crypto-taxes","title":"The Key Legal Techniques of Avoiding Crypto 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Terms","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/crypto-101-glossary.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}],"nextSection":{"id":675,"original_id":null,"author_id":40,"translator_id":null,"title":"What is Rug Pull?","slug":"what-is-rug-pull","section":"R","keyword":"Rug Pull","status":"published","definition":"a malicious act or a fraud in the cryptocurrency sector in which crypto developers abandon a project and walk away with the investor's money.","content":"<p>In the cryptocurrency world, a rug pull is a malicious act, or a scam, where crypto developers quit a project and exit with the investor&rsquo;s capital. Typically, rug pulls take place when fraudulent developers issue a new crypto token, pair it with a leading cryptocurrency like <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-ethereum-eth/">Ethereum, then increase the price and try to attain as much value out of them as possible prior to abandoning them at the same time the price goes to zero.</p>\n<p>These can also be seen as a sort of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-defi/">decentralized finance (DeFi)</strong></a> explicit or an exit scam.</p>\n<p>To be more specific, when a large number of uninformed investors exchange their ETH for the specified token, the developers remove everything from the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-liquidity-pool/">liquidity pool</strong></a>, causing the <strong>coin's price to fall to zero</strong>. Furthermore, to go the additional mile, fraudulent developers might build excitement on social media sites like Twitter and Telegram, infusing a significant amount of liquidity into their pool in order to encourage investor interest.</p>\n<p>There are three main types of rug pulls:</p>\n<ul>\n<li>Liquidity stealing;</li>\n<li>Limiting sell orders;</li>\n<li>Dumping.</li>\n</ul>\n<p><strong>Liquidity stealing</strong> takes place when token producers take tokens from the liquidity pool, they eliminate all of the worth pumped into the currency by investors, pushing its price to zero.</p>\n<p><strong>Limiting sell orders</strong>, on the other hand, is a deceptive method used by unscrupulous developers to mislead investors. Therefore, these developers program the tokens so that they are the only ones who can sell them. <strong>The Squid Token scam</strong>&nbsp;is an excellent example of this type of rug pull.</p>\n<p>When developers immediately sell off their own enormous number of tokens, this is known as <strong>dumping</strong>. As a result, the coin's price falls, and the investors that remained are left with useless tokens. In regards to that, dumping frequently takes place after a lot of social media marketing. This leads to a price increase and the sell-off is referred to as a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-pump-and-dump-pandd-scheme/">Pump-and-Dump Scheme</strong></a>.</p>\n<p>Moreover, differently from centralized exchanges, DEXs let users place tokens for free without any inspection, so it is known that <strong>rug pulls function best on DEXs</strong>. Likewise, token creation on <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-open-source/">open-source blockchain technologies, such as Ethereum, is simple and free. Malicious actors make use of these two elements for their own benefit.</p>\n<p>Keep in mind, though, that <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-decentralized-exchange-dex/">decentralized exchanges</strong></a>, such as Uniswap, algorithmically decide the prices of tokens in a pool based on the balances accessible at that moment. Hence, to protect yourself from falling victim to a rug pull, make sure to check the liquidity in the pool as a first step.</p>\n<p>Besides, you should also check if there is a lock on the token&rsquo;s pool because the majority of respectable initiatives are known to lock in pooled liquidity for a set amount of time.</p>","level":"medium","meta_title":"What is Rug Pull? Definition & Meaning | Crypto Wiki","meta_description":"Rug Pull meaning: Rug Pull - is a malicious act or a fraud in the cryptocurrency sector in which crypto developers abandon a project and walk away with the investor's money.","meta_keywords":null,"language":"en","created_at":"2022-03-29T05:10:30.000000Z","updated_at":"2022-10-12T11:33:54.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-rug-pull"},"prevSection":{"id":672,"original_id":null,"author_id":43,"translator_id":null,"title":"What is Ryuk Ransomware?","slug":"what-is-ryuk-ransomware","section":"R","keyword":"Ryuk Ransomware","status":"published","definition":"is a type of targeted malicious software that first appeared in August 2018.","content":"<p><strong>Ryuk Ransomware</strong> is <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-malware/">malware that attacks a specific victim&rsquo;s computer and holds the data within for ransom.&nbsp;</p>\n<p>What makes this ransomware so dangerous is its unusual design. While most malicious software variants are aimed at the masses, Ryuk Ransomware is targeted. Hackers that utilize Ryuk prefer quality over quantity, therefore, they <strong>select each victim individually</strong>.&nbsp;</p>\n<p>There are three major steps of attacking with Ryuk Ransomware. Firstly, cybercriminals infect the victim&rsquo;s computer. This is usually done by sending them <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-spear-phishing/">spear-phishing emails. These emails are used in various ways. Sometimes they immediately and directly infect a computer, while other times it&rsquo;s only the first step of the infection.&nbsp;</p>\n<p>An alternative way to infect a victim&rsquo;s computer is to acquire private credentials to remote access systems like the Remoted Desktop Protocol (RDP).&nbsp;</p>\n<p>The next stage of the ransomware attack is the process of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-encryption/">encrypting files. Once this is finished, the attackers are free to demand a massive ransom for said files.&nbsp;</p>\n<p>Ryuk Ransomware is known to use a mix of file encryption algorithms like the symmetric AES-256 and the asymmetric RSA-4096. These protocols encrypt files and provide a copy of the encryption key which is then encrypted with the RSA <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-public-key/">public key</strong></a>. Once the ransom has been paid off, the hackers send a copy of the RSA <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-private-key-secret-key/">private key</strong></strong></a> to the victim which allows them to <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-decryption/">decrypt the files.</p>\n<p>While Ryuk Ransomware was discovered only in 2018, this malicious software has managed to claim the title of one of the most extortionate ransomware forms to date.</p>","level":"easy","meta_title":"What is Ryuk Ransomware? Definition & Meaning | Crypto Wiki","meta_description":"Ryuk Ransomware meaning: Ryuk Ransomware - is a type of targeted malicious software that first appeared in August 2018.","meta_keywords":null,"language":"en","created_at":"2022-03-28T14:45:45.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-ryuk-ransomware"},"currentChapter":"R","currentSection":"what-is-ragequit","chapterTitle":"R","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-ragequit","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">
Handbook Cover Page
Crypto Terms: Letter R

What is Ragequit?

Ragequit MEANING:
Ragequit - a DAO process when a member stops participating in a proposal before it goes through and leaves with a significant share of the assets.
Easy
1 minute

Let's find out Ragequit meaning, definition in crypto, what is Ragequit, and all other detailed facts.

Ragequit is a process that allows members of a decentralized autonomous organization (DAO) to withdraw part or all of their stake with their share of the assets and quit participating in a proposal before it goes through.

The ragequit process was introduced in the V1 Moloch DAO framework and has become one of its integral parts. This option is now available on a number of other DAO frameworks, including Tribute DAO and Flamingo DAO. In many cases, ragequit is listed as “Exit”.

Members of the Moloch DAO can invoke the ragequit at any point in time, as long as they have not voted “Yes” on an active proposal. This means that members who voted “No” or did not vote at all are able to ragequit during the timeframe after the proposal is approved but before it is placed into action.

The ragequit process allows the DAO members to keep their contributions to the DAO treasury entirely under their management. Minority members that do not agree with certain proposals are also protected from losing their funds in the pool if they are not in agreement with the decisions being made by the DAO.

The development of the ragequit process was a massive step forward for the DAO frameworks. It provides more reassurance to the members that their assets will not go to waste on projects they personally disagree with, while also strengthening the unity of like-minded DAO communities.
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