> ## Documentation Index
> Fetch the complete documentation index at: https://developer.tailwind.zone/llms.txt
> Use this file to discover all available pages before exploring further.
# expiry and redemption
> understanding the redemption process
## expiration
* All DAOs have a set, on-chain expiration date which is displayed on their [daos.fun](http://daos.fun) page -- you can select the desired length of a DAO during DAO creation.
* Eventually, governance will be introduced to **allow voting to extend the expiration date** of a DAO.
* When a DAO expires, **no more transactions** can be executed from the [daos.fun](http://daos.fun) treasury wallet. The DAO funds will be locked.
* The **DAO token will continue to trade** freely on Meteora.
* **Set a calendar reminder** for this date to ensure your fund is ready before expiry.
## closing the fund early
* Currently, DAOs cannot be closed early.
## dao token = redemption token
* DAO tokens are **redemption tokens** — when a DAO is expired, they can be burned to redeem treasury assets once a DAO expires.
* All SPL tokens in the DAO can be redeemed prorata.
* E.g. if you own 1% of the DAO tokens, you can redeem 1% of the SOL, WIF, POPCAT, etc in the DAO.
* There is one exception -- the DAO's own DAO token cannot be redeemed. E.g. I cannot redeem \$GFC by burning \$GFC -- even if it is present in the DAO.
## redemption nuances
* When the fund expires:
* A **snapshot** is taken of the AUM's assets.
* **Only assets present in the AUM at the time of the snapshot** are eligible for redemption.
* Tokens sent **after expiration** are not redeemable.
* Best practice is to **sell non-SOL tokens into SOL** before fund expiry.
* Similar to how a fund manager would liquidate assets before closing. This ensures that a Creator will be able to receive their Carry %.
## creator carry %
* The carry is a percentage of DAO profits that the creator gets to keep.
* The creator gets the carry on the *profit* that they generate in the DAO.
* E.g. If the DAO starts with 100 SOL, and ends with 150 SOL, the prift is 50 SOL. If the creator carry is 20%, then they get 10 SOL as the carry (20% of 50 SOL is 10 SOL).