Nov 9, 2022
How to Withdraw
Let’s walk through the withdrawal process on AlgoRai vaults.
Here’s a video explainer on how to withdraw into AlgoRai vaults.
Step 1 — Viewing an active vault position
We head over to the “Portfolio” page to view our active positions under “My Positions”. We proceed to choose the vault we wish to make a withdrawal from, and click on “Go to Vault”.
Step 2 — Pulling up the withdrawal UI
At the vault page, we click on “Manage”, which will pull up the deposit/withdrawal UI.
Step 3 — Opt-in to a vault’s withdrawal contract
On the deposit/withdrawal UI, we navigate over to the withdrawal tab. Here we can see our current round liquidity as well as the option to opt-in to the withdrawal contract.
Opting in to the withdrawal contract is required to request a withdrawal. We proceed by clicking on “Opt-In”, and signing the transaction.
Step 4 — Requesting a withdrawal
Upon successful opt-in, we will now see our available withdrawal liquidity along with the option to request a withdrawal. We click on “Request Withdrawal’’ to initiate the withdrawal, and proceed to sign the transaction. *Note that withdrawals made are for the maximum available balance, and no partial withdrawals are permitted.
Depending on the time of the week that a withdrawal is requested, withdrawals might either be queued for withdrawal, or available for immediate claim. Between rounds from 10am UTC on Fridays (Round Start), to the following Friday at 9am UTC (Round End), any withdrawals made during this period will be queued and duly processed at round end on Fridays, 9am UTC (Round End). If a withdrawal is requested between rounds on Friday, 9am UTC (Previous Round End) to Friday, 10am UTC (Next Round Start), it will be immediately claimable from the “Portfolio” page.
Step 5 — Cancelling and claiming a withdrawal
If a withdrawal is made between rounds from 10am UTC on Fridays (Round Start), to the following Friday at 9am UTC (Round End), it will be queued and processed at 9am UTC on the following Friday. Queued withdrawals can be viewed at the “Portfolio” page under “My Pending Requests”. Do note that the amount shown will be subject to change depending on the settlement status at round end.
Withdrawals that are queued and not processed on round end are available for cancellation at any time if one changes their minds. To do so, we simply click on “Cancel Withdraw” and sign the transaction.
If a previously pending withdrawal was processed at 9am UTC on a Friday or made between rounds at 9am UTC on Fridays and 10am UTC on the same day, it will be available for immediate claim on the “Portfolio” UI under “My Pending Requests”.
Clicking on “Withdraw” and signing the transaction will initiate the claim and the claimable amount will be deposited directly into the user’s wallet.
About AlgoRai Finance
Your Leader in Algorand DeFi Structured Products! We are a group of highly experienced, talented and dedicated professionals with one mission — to create value for you, with secure DOVs helping your assets grow over time. AlgoRai creates robust and transparent DeFi structured products on Algorand’s ecosystem. We provide users with a means to separate and harvest inherent volatility on their underlying assets through our products. We currently offer option vault strategies for BTC, ETH, and ALGO. We are looking to implement new developments in the future. Follow us on our socials to stay updated!
