# Withdrawals

## Making a Withdrawal Request

Making a withdrawal request from the Stablecoin Staking Yield Vault is a simple process.

1. Connect your whitelisted wallet to the OpenTrade app
2. Select the Stablecoin Staking Yield Vault
3. Click "Withdraw"
4. Input the amount you'd like to withdraw
5. Click "Submit Withdrawal Request"
6. Approve in your wallet
7. After the Withdrawal Processing Time, USDC will automatically be sent back to your wallet and the corresponding amount of xSOLY tokens will be burned.

## Withdrawal Processing Time

The Withdrawal Processing Time is the number of business days before a withdrawal will be repaid into your wallet.

{% hint style="info" %}
The current Withdrawal Processing Time is equivalent to the time required to unstake Solana, withdrawals are typically repaid within 3-5 business days. Express liquidity facilities are available on request for customers that meet certain eligibility criteria. For more information on the Solana Stake account lifecycle, see [here](https://docs.figment.io/docs/sol-staking-101).
{% endhint %}

## Withdrawal Cut-Off Time

The Withdrawal Cut-Off Time is the time in UTC before which withdrawal requests must be made to be considered same day. For withdrawals requests made before the cut-off time, they will be considered same day requests. For withdrawal requests made after the cut-off of time, they will be considered to have been made the next business day.

For withdrawal requests made on Non-Business Days (e.g. weekends and bank holidays), they will be considered to have been made on the next business day.

{% hint style="info" %}
The Current Withdrawal Cut-Off Time is 6pm GMT.
{% endhint %}

{% hint style="info" %}
**Withdrawal requests can be made anytime.** The Withdrawal Cut-Off time is used to calculate when the withdrawal processing time starts and thus when it is due to be repaid.
{% endhint %}

## Exchange Rate Calculations - Withdrawals

The lender issues a withdrawal request by indicating an amount of vault tokens to be redeemed. This will provide an indicative withdrawal amount.

```javascript
Vault Tokens to be Redeemed * Exchange Rate  = Withdrawal Request Amount
```

The amount of vault tokens specifies the portion of the collateral to be liquidated.

```javascript
Vault Tokens to be Redeemed / Total Outstanding Vault Tokens  = % Collateral to be Liquidated
```

The Investment Advisor will liquidate the portion of the collateral corresponding to the withdrawal request and confirm the net sale proceeds. The final withdrawal repayment will equal the net sale proceeds of the sale of your collateral.

```javascript
Withdrawal Amount = Net Sale Proceeds of Liquidated Collateral
```

### Example

Example: Client A wants to withdraw 50 xSOLY (out of a total of 200) on T<sub>0</sub>. The value of the collateral on T<sub>0</sub> is 1000 USD.

The exchange rate on the platform is 1.5. The indicative withdrawal amount is: 50 x 1.5 = 75 USDC.

Upon receipt of the withdrawal request, the Advisor will request the unstaking \[50/200] x 1000 = 25 % of the staked SOL and convert it back to USDC. Once unstaked, 25% of the SOL is liquidated on exchange. Net sale proceeds for the SOL are 74.5 USDC.

At repayment, 50 xSOLY will be burned and the lender will receive 74.5 USDC.


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