[boringg]

I believe the gated feature can be waived though it causes a precarious situation. It ends up with same psychology of a bank run -- people (institutions) concerned because they can't access funds or they think that the queue to exit a failing fund is too long - filled each quarter (i.e. by the time they redeem NAV has collapsed).

[JumpCrisscross]

> the gated feature can be waived

Or never invoked. It's a safety feature for the fund and, arguably, systemic stability.

[boringg]

Totally - its supposed to prevent a collapse of confidence but at the same time can signal a collapse of confidence. Double edged sword.