Redeem USDest

How approved institutions burn USDest and withdraw USDC.

Redeeming USDest for USDC is available only to approved institutions. Other holders can swap USDest on secondary markets.

Redemption

Click Redeem on the Institutions dashboard to burn USDest and receive USDC 1:1, less any redemption fee.

Review the redemption details.

Redemption Details

USDest Balance: USDest in the connected allowlisted wallet
Remaining Redeem Limit: capacity left in the current period
Available USDC Buffer: USDC immediately available in the reserve
Settlement: Instant if the amount is within the USDC buffer, otherwise Pending Settlement while T-bill fund units are redeemed
Redeem Fee: fee deducted, if any

Complete the transaction.
1. Within the buffer: Redeem calls withdraw(usdestAmount, recipient). It burns USDest and sends USDC to the recipient in the same transaction.
2. Above the buffer: Request Redemption calls requestWithdraw(usdestAmount, recipient). Your USDest is escrowed and the request shows as Pending Settlement. When the T-bill fund redemption settles, the strategy role calls fulfillWithdraw(requestId), which burns the USDest and sends USDC.

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sequenceDiagram
    actor Institution
    Institution->>+USDest: withdraw(USDest)
    USDest->>+Institution: USDC