Investor Withdrawal Procedure
- Investor creates a REDEMPTION_CLAIM for a requested USDC amount. The claim records REDEMPTION_REQUEST_TIME, PAYOUT_EPOCH_ID, SCHEDULED_PAYOUT_TIME, REQUESTED_REDEMPTION_AMOUNT, and REDEMPTION_CLAIM_STATUS.
- No REDEMPTION_FEE is charged when the claim is created. The requested amount remains economically deployed and continues earning full pool yield while it is unassigned.
- At the weekly payout event, the protocol calculates TOTAL_WEEKLY_PAYOUT_CLAIM_VALUE and AVAILABLE_LIQUIDITY for that payout cycle.
- Decision split: if AVAILABLE_LIQUIDITY is sufficient, each claim receives full gross assignment. If AVAILABLE_LIQUIDITY is insufficient, gross assignment is pro rata across TOTAL_WEEKLY_PAYOUT_CLAIM_VALUE.
- REDEMPTION_FEE is deducted from GROSS_ASSIGNED_LIQUIDITY at assignment and paid to TRD treasury. The investor receives a claimable net assigned liquidity balance.
- Decision split: any UNASSIGNED_REDEMPTION_CLAIM_BALANCE either rolls forward to the next payout epoch and continues earning pool yield, or the investor cancels the unassigned balance and pays CANCELLATION_FEE. Only unassigned balance can be cancelled.
- ASSIGNED_LIQUIDITY cannot be cancelled back into the pool. At assignment, the gross assigned amount burns or redeems investor position shares, stops earning pool yield, and remains claimable for four payout epochs.
- If assigned liquidity is not withdrawn within four payout epochs, the redemption for that assigned amount expires. The REDEMPTION_FEE remains with TRD treasury, net assigned liquidity returns to the main pool, and the investor is re-credited with active investor position shares at the then-current exchange rate.
- If TRD freezes investor payouts to implement a contract-defined off-chain event, payout movement pauses and the frozen period does not count against the four-epoch claim window.
Important: Use the Defensive Queueing Scenario to see the adversarial case with multiple claims and pro rata payout math.
Design rationale
Weekly payout batching removes transaction-order priority within the same payout epoch, gives the borrower and other investors a visible liquidity signal, and keeps unassigned capital economically aligned with the pool. The cancellation fee and assigned-liquidity expiry prevent investors from maintaining a free permanent protection option.