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OpenEden Documentation
OpenEden Documentation
  • šŸ‘‹Welcome To OpenEden
  • šŸ”µTBILL
    • Introduction
    • Product Structuring
    • Investor Onboarding
    • Subscriptions
    • Redemptions
    • Fees
    • Token Price
    • Risks
    • Trust & Transparency
    • Smart Contract Addresses
    • On-chain Governance & Controls (I)
    • Off-chain Governance & Controls (II)
    • FAQ
    • Legal
      • User Agreement
      • AML/CFT Policy
      • Cookie Policy
      • Electronic Signature Policy
      • Privacy Policy
  • 🟣USDO
    • Introduction
      • Product Structuring
      • Bankruptcy Remoteness
      • USDO Reserves
      • Eligibility
        • Prohibited Jurisdictions
        • Onboarding Steps
      • Service Providers
    • USDO Token
      • Minting Workflow
      • Redemption Workflow
      • Cut-Off Time
      • Bonus Multiplier
      • Fees
      • Reserve Assets
    • cUSDO Token
    • Collateralization Ratio
    • Transparency
    • Risks
      • Smart Contract Risk
    • FAQs
    • Developers
      • Integration Guide
      • Contracts
    • Legal
      • User Agreement
      • Cookie Policy
      • Electronic Signature Policy
      • Privacy Policy
    • Guides
      • USDO Instant Mint via Etherscan
      • USDO Redemption via Etherscan
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  • Redemption Process
  • Redemption Queue
  • Restrictions
  • Address Level
  1. TBILL

Redemptions

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Last updated 2 months ago

Redemption Process

An onboarded Investor can redeem their TBILL tokens for USDC from the TBILL Vault by initiating a redemption request either on the or through the .

Instant redemption is supported 24/7 up to a certain amount via atomic on-chain settlement, on the Ethereum network only. Larger amounts are placed into a .

Redemption requests on other networks will be placed into a by default.

During the redemption process, the TBILL tokens previously held by the Investor will be burnt. The final amount of USDC the Investor will receive will be the amount of TBILL tokens redeemed multiplied by the prevailing TBILL/USDC token price at the time of withdrawal, net of transaction fees.

Please note that the exchange rate and transaction fee applied will be determined at the time when the redemption request is processed.

usdcReceived=tbillTokensWithdrawnāˆ—exchangeRateāˆ’txnFeeusdcReceived = {tbillTokensWithdrawn * exchangeRate - txnFee} usdcReceived=tbillTokensWithdrawnāˆ—exchangeRateāˆ’txnFee

Redemption Queue

The requests in the redemption queue are processed in accordance with a First-In-First-Out (FIFO) model. Redemptions are typically processed on the next 1 U.S. business day.

Restrictions

Address Level

The Investor can expect to receive an email when a redemption request is made and upon successful redemption.

Redemptions can only be initiated from addresses that have been whitelisted after participants have successfully completed the . Additionally, all redemption requests have to meet the minimum value of USDC 1.

šŸ”µ
onboarding process
TBILL Vault’s app interface
TBILL Vault smart contract
redemption queue
redemption queue