Withdrawing From Vaults
Important Info On Withdrawing
- 1.Connect your wallet
- 2.Select the vault you'd like to withdraw from
- 3.Claim your shares if you have not already done so
- 4.Enter the amount you'd like to withdraw and click withdraw
- 5.Return after the end of the round and complete your withdrawal to return funds to your wallet
Withdrawing into Katana vaults is a two-step process. Here is a deeper exploration of the design below to further inform the user experience.
Katana vaults operate in a weekly round structure, meaning funds are locked in the strategy during the course of the period. Each period begins on Friday morning EST when the strategy rolls over and new options are minted. At this time, initiated withdrawals sitting in the withdrawal queue are available for completion to be returned to a user's wallet.
If a user withdraws anytime before the end of the period, their funds will remain in a withdrawal queue and will only be available for withdrawal completion starting Friday morning EST. Users can initiate a withdrawal at any point before Friday in order to ensure their funds are added to the withdrawal queue for the current round and are not rolled over into the next round. Importantly, the funds are still earning yield for the current period even after a withdrawal has been initiated.
Once a user's funds are incorporated into a strategy and begin earning yield, the user will be minted Katana "shares" that represent their ownership in the vault. These shares can be claimed at any time and are only necessary to initiate a withdrawal. Whether they are claimed or not, the shares change value over time to reflect the performance of the strategy. Thus, if the strategy is profitable over a given period, the shares will be worth more than when they were minted to the user.
The user must claim their shares before initiating a withdrawal. These shares track a user's performance over the lifetime their funds were in the vault and will be burned when the underlying assets are returned to the user.