Redemption Workflow

Manual Redemption

Process Overview

USDO clients can redeem their USDO stablecoins by transferring them to OED's wallet address before the daily cut-off time. After the cut-off time, and only during U.S. business days, OED will:

1. Revalidate all redemption requests to ensure they are valid (perform KYT and double-check the whitelist off-chain).

2. Bring back liquidity to fulfil redemption requests in a First-In-First-Out (FIFO) order. Each redemption will be fulfilled by: a. Burning the equivalent amount of USDO stablecoins in the daily queue. b. Transferring the USDC back to the redeeming user.

Redemptions typically settle within 1 business day but can take up to 2 business days.

Instant Redemption

Process Overview

OpenEden also offers an instant redemption facility up to a certain amount of liquidity dependent on Circle and Blackrock-Securitize’s BUIDL liquidity injection.

1. Trigger an instant redemption by using USDO.

2. USDO Liquidity Manager contract will send the underlying TBILL to the TBILL protocol.

3. The TBILL protocol will then use its BUIDL allocation to redeem USDC from the Circle BUIDL smart contract.

4. USDC will then be returned to the initial user who triggered the instant redemption request