# Withdrawals ## Making a Withdrawal Request Making a withdrawal request in the High Yield Corporate Bond Vault is a simple process. 1. Connect your whitelisted wallet to the OpenTrade app 2. Select the High Yield Corporate Bond 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 tokens will be burned. ### User Guide {% embed url="" %} ## 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 maximum of 2 business days. Most withdrawals are processed T+1. Instant liquidity facilities are available on request for customers that meet certain eligibility criteria. {% 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 = Indicative Withdrawal 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 Early Withdrawal Amount = Net Sale Proceeds of Liquidated Collateral ``` ### Example of Withdrawal Calculations **Collateral:** * 1,000,000.00 SHYG Shares @ $90.00 pps * $1,000,000 cash **Closing Price T-1:** $90.00 **Total Vault Tokens Outstanding:** 10,000,000 `[ (1,000,000.00 SHYG Shares x $90.00 pps) + $1,000,000.00 ] – ($1801.80) / 10,000,0000 ]` **Exchange Rate:** 9.0998198200 Client A wants to redeem 1,000,000.00 tokens on T0. The indicative withdrawal amount is: `1,000,000.00 x 9.0998198200 = 9,099,819.82 USDC` Percentage of the collateral to be liquidated is: `1,000,000.00 / 10,000,000.00 = 10%` The net sale proceeds of 10% of the collateral is: `$9,098,999.61` The withdrawal amount repaid to the Lender is: `9,098,999.61 USDC` --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.opentrade.io/stablecoin-yield/stablecoin-yield-vaults/high-yield-corporate-bond-vault/withdrawals.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.