Withdraw in the app

Withdrawing turns your shares back into the stock, in your wallet. There is no request to file and nothing to wait for once the transaction lands. Most supplied stock is posted as collateral, though, so how much can leave at once depends on what can be freed in a single transaction. Using a vault explains the contract that holds it. This page explains what the Withdraw panel shows and how the app chooses what to send.

Key points

• Available to withdraw now is how much of your stock can be paid to you in one transaction, right now.
• The app sends the withdrawal that pays now. Above the stock held idle, it unwinds positions in the same transaction.
• In the app you only ever receive the stock. You are never asked to pay stablecoin, and never paid in anything else.
• When not everything can be freed at once, the rest stays supplied and becomes available as positions are freed.

How to withdraw

1. Choose Withdraw on the stock's row in Portfolio, or open the stock's page and choose Withdraw in the Supply and Withdraw panel.
2. Enter an amount of stock, or choose 25%, 50%, 75% or Max of what you have supplied.
3. Check Available to withdraw now, then choose Withdraw.
4. Confirm the transaction in your wallet. When it lands, the panel says how much you withdrew, with a link to the transaction. In a dialog, choose Dismiss to close it.

Withdrawing needs no approval, since you are withdrawing your own shares. You pay only the network's gas fee.

Available to withdraw now

The Withdraw panel shows three rows:

Available to withdraw now can be less than Supplied. It changes as the strategy's positions, idle stock and the money markets' cash change.

How the app chooses the withdrawal

You never choose a method. The app reads your position and the strategy's positions before every withdrawal, and sends the one that pays now:

• If your amount fits within the stock held idle, the app sends a standard withdrawal. Withdrawing everything redeems all your shares, so nothing is left behind.
• If your amount is larger, the app asks for a plan of the exit at the current block. If it can be paid by releasing collateral and repaying debt in the same transaction, without asking anything of you, the app sends that.
• If it cannot, the app works out the largest amount that can leave that way now, and shows it instead of sending.

Every plan is checked again just before the app sends it, so a plan made at an older block is never used. For how positions are unwound, see Forced withdrawals.

Why can't I withdraw everything now?

When you ask for more than can leave, the panel says how much can be withdrawn now. The rest is supplied to money markets as collateral, and becomes available as it is freed. Common reasons:

• The lending venues cannot pay out enough stablecoin right now to repay the matching debt.
• A borrow venue's position cannot be released at the moment.
• The strategy's stablecoin side is short. See below.

You can withdraw what is available now, and the rest later. The curation service keeps part of the supplied stock idle and moves lending away from venues whose withdrawals are getting tight, but it cannot promise that everything can leave at once.

When withdrawals pause

If the strategy's stablecoin side is short, the Supply tab says new deposits and withdrawals are paused until it is restored, and Available to withdraw now drops to zero. While the book is in deficit, standard withdrawals stop, and a forced withdrawal asks the holder to pay their share of the gap. The app never pays that for you, so nothing can be withdrawn through the app until the book is covered. Directly on the contract, a holder can still leave by paying their share. See When the stablecoin book is short.

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