Redeeming
Redeeming converts your vault shares back into the underlying asset. Like depositing, it's a request-based flow: you submit a redeem request now, the curator prices it at the next settlement, then you claim your assets.
Before you start
- Open the vault page and select the Redeem tab in the action panel.
- The panel shows your share balance and an estimate of the assets you'll receive at the current price per share.
- You redeem a number of shares, the panel estimates the assets you'll receive.
How redeeming works
Redeeming mirrors the deposit flow: request, settle, claim.
- Request. Submit a redeem request for a number of shares. Your shares are escrowed by the vault. The app shows Pending redeem.
- Settlement. The curator settles, pricing your redemption at the then-current price per share and setting aside the assets you're owed.
- Claim. Once settled, the app shows Ready to claim. Return and claim assets to receive the underlying in your wallet.
Request redeem → Pending → (curator settles) → Ready to claim → Claim assets
Managing a pending redeem
Before settlement you can:
- Add more shares to the pending redeem,
- Reduce it (your shares are returned to you), or
- Cancel it.
After settlement, the remaining action is to claim your assets.
Timing and pricing
Your redemption completes at the next settlement, priced at the settlement-time PPS. The pre-settlement estimate is approximate, the price can move during the epoch.
If a vault settles infrequently, plan your exit accordingly. No instant withdrawal, assets become available only once the curator settles.
Exit fees
If the vault charges an exit fee, it's applied when your redemption settles, reducing the assets you receive by the fee percentage. The estimate accounts for this.
Common messages
- Redeems disabled. The curator has turned redemptions off for now.
- Insufficient share balance. You're trying to redeem more shares than you hold.
- Vault is paused. Activity is temporarily halted, try again later.