Withdrawing Funds
Last updated
Last updated
When you're ready to withdraw your funds from a Lending Strategy, you can initiate a Withdrawal Request at any time. It is noted, however, that this only applies to variable APY loans. I.e. you will not be able to submit a Withdrawal Request from any fixed APY loans, given that you would have agreed to the fixed rate term upon entering into this lending arrangement.
It is also important to understand that like all other transactions, Withdrawal Requests must be submitted prior to the commencement of the Clearing Period, which commences 48 hours prior to the end of the 7-day epoch.
To submit a Withdrawal Request from a variable APY loan, the following steps are necessary:
Connect your Web3 wallet.
Visit the Lending page of the Kasu platform where all the Lending Strategies appear.
Click on the Overview button of the relevant Lending Strategy you would like to withdraw your funds from.
Scroll down to the Your Lending Section and click the Withdraw button. Note that if your Web3 wallet is connected and you don't see any Lending Balance appear in this Section, the Withdraw button will be inactive, meaning you do not have any funds in this particular Lending Strategy to withdraw.
You will then be prompted to enter the USDC amount you would like to withdraw, along with the Tranche you'd like to withdrawal your funds from.
Follow the prompts until you received confirmation that your Withdrawal Request is sucessfully queued.
The fulfilment (acceptance) of your Withdrawal Request first depends on the available liquidity in each Lending Strategy. If there's insufficient liquidity, your Withdrawal may not be fulfilled (or only partially fulfilled), in which case, the unfulfilled portion will remain queued for the next epoch.
Your Loyalty Level also plays a role in influencing the priority of Withdrawal Requests. Higher Loyalty Levels result in higher priority relative to other Withdrawal Requests with lower (or no) Loyalty Levels, which is beneficial during periods of high withdrawal demand.
You can request to withdraw any amount of your lending balance. Interest is calculated up to the point when your withdrawal is fulfilled at the end of the epoch. Similarly, any End Borrower losses that occur whilst your Withdrawal Request is still queued will also affect your balance (including the amount of Withdrawal Requests that are yet to be fulfilled). Once complete, the withdrawn funds are transferred to your Web3 wallet as USDC.
If your Withdrawal Request has not been fulfilled (Accepted) after 5 Epochs, it will automatically outrank all published Loyalty Levels, elevated to the highest priority (exceeding Loyalty Level 3), regardless of your existing Loyalty Level (even if you do not have a Loyalty Level). Please refer to Loan Withdrawal Requests for further details.
