Redemptions
Last updated
Last updated
Besides selling USDf on external markets, users looking to exit their USDf positions have the option of initiating redemptions on Falcon. Redemptions are split into two types - a classic redemption and a claim. This is based on the type of asset a user is receiving for his USDf, with both forms of redemptions being subject to a 7-day cooldown period. Users will only receive their assets after this period, in which their redemption requests are processed.
The cooldown period is implemented to ensure the health of Falcon and its reserves, providing a sufficient window of time for Falcon to withdraw users' assets from its active yield generation strategies. This is not to be confused with unstaking, where users can unstake their sUSDf and receive USDf in return immediately.
Classic redemptions involve users exchanging their existing USDf for one of Falcon's supported stablecoin options (e.g., USDC, USDT).
Refer to the section for further details on redeeming USDf for stablecoins.
Claims, on the other hand, involve users exchanging their existing USDf for non-stablecoin positions that they previously locked to mint USDf.
For users of , this process enables users to recover the applied during the initial minting. Upon claiming, users may choose to receive their assets in one of three formats: the original collateral asset, USDT, or a combination of both.
For users of , claims can be made only after the fixed public launch is now live
https://vxtwitter.com/FalconStable/status/1917445561156002132 has fully matured. To reclaim the original non-stablecoin collateral, users must repay the amount of USDf initially minted. Full recovery of the collateral is possible only if the position was not liquidated or exited due to the asset price reaching the predefined strike level during the term.
Refer to the section for further details on redeeming USDf for non-stablecoin assets.