Comment on page
The Cash Management Pool offers daily liquidity, with withdrawals serviced every day the U.S. banking system is open. Withdrawals must be requested 24 hours ahead of time, and no later than 13:59 Eastern Time in order for funds to be available to withdraw the next business day.
How long does it take for withdrawals to process?
Withdrawals are honoured every day the U.S. banking system is open, which excludes weekends and bank holidays. Withdrawals are processed between 14:00 - 05:00 Eastern Time. If a withdrawal request is initiated before 13:59 Eastern Time, funds will be available to withdraw the next business day between 14:00 and 5:00 Eastern Time. Otherwise, funds will be available to withdraw the following business day.
How are next day withdrawals possible?
The Borrower has constructed a portfolio of assets which can be redeemed or liquidated within 24-hours notice to process Lender withdrawals. The borrower will actively manage pool liquidity – this includes monitoring upcoming withdrawal requests, ongoing deposits, and near-term loan maturities, and making repayments as necessary to satisfy Lender withdrawals.
Withdrawals are subject to proper market functioning, and the proper functioning of USDC. If there is not sufficient liquidity in the Pool to service all withdrawal requests, those Lenders in that cycle will be eligible to withdraw their pro rata share of the available liquidity and have the remaining funds requested for withdrawal moved to the very next withdrawal window.
Withdrawing is a two-step process:
- 1.Request to withdraw
From the Lender Dashboard, Lenders should select 'Withdraw Funds', input USDC amount, and follow the transaction steps on screen.
To plan when to schedule your withdrawal, reference the following table.
- 2.Process withdrawal
To withdraw, Lenders need to return to the Lender Dashboard during the 'withdrawal window' which is open between 14:00 - 05:00 Eastern Time the next business day. To process a withdrawal, Lenders should select 'Withdraw USDC' on the Pool Details page and follow the transaction steps on screen.
In the instance that a Lender does not return to the Lender Dashboard to complete the withdrawal during the withdrawal window, the withdrawal request will be cancelled and the funds will be lent back out to the Borrower.