Redemptions
Last updated
Last updated
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.
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.
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.