# Deposit and Redemption flows

Asynchronous deposits and withdrawals follow a four step flow. Requests are grouped and settled at a single valuation point, ensuring consistent pricing within each settlement cycle.

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Why Asynchronous Matters

Asynchronous flows reduce fragmented execution and allow settlement to align with valuation, strategy constraints, and operational processes.
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### Deposit flow:

<figure><img src="https://2098527692-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F5vcVbvvRrtwZ0uaFrufF%2Fuploads%2Fz2eqfkgpDX30LTQl8qAq%2FScreenshot%202025-05-01%20at%2016.20.53.png?alt=media&#x26;token=bd816cea-0a35-4d33-a09d-03e4d889c7c9" alt=""><figcaption><p>Deposit workflow</p></figcaption></figure>

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#### <mark style="color:$primary;">Request</mark>

<sup>**User signals intent to deposit**</sup>

Users call `requestDeposit` to signal their intent to enter the vault. Assets are transferred to the pending silo, a utility contract deployed at vault creation to hold assets awaiting settlement.
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#### <mark style="color:$primary;">Valuation and Settlement</mark>

<sup>**Curator batches and processes requests at a valuation point**</sup>

Settling requires a fair valuation of the vault's positions. The valuation provider submits a NAV to the vault. The curator reviews and approves it by calling `settleDeposit`, ensuring no settlement occurs on an unverified valuation.

All queued deposit requests are then processed at this single valuation point. The corresponding shares are minted.

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This is a two-step procedure: the valuation provider *proposes* the NAV first, then the curator *accepts and settles*. This separation adds an extra layer of verification.
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#### <mark style="color:$primary;">Claim</mark>

<sup>**User receives shares after settlement**</sup>

After settlement, users start earning directly. Ownership of the vault is represented by an ERC-20 share token. Shares are held inside the vault and can be claimed at any time on the vault page.

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The curator can claim shares on behalf of users and transfer them directly to their address. See [How to claim shares on behalf of users](https://www.claudeusercontent.com/?domain=claude.ai\&errorReportingMode=parent\&formattedSpreadsheets=true).
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### Redemption flow

In the redemption process, unlike the deposit process, users cannot cancel their withdrawal requests. This measure prevents users from making curators unwind positions without a valid reason.<br>

<figure><img src="https://2098527692-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F5vcVbvvRrtwZ0uaFrufF%2Fuploads%2FePtUUcCLCon6JbwXe0bo%2FScreenshot%202025-05-01%20at%2016.21.12.png?alt=media&#x26;token=4cb7c8a4-0515-40d7-a5e3-d8b1b0a1a498" alt=""><figcaption><p>Redemption workflow</p></figcaption></figure>

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#### <mark style="color:$primary;">Request</mark>

<sup>**User signals intent to withdraw**</sup>

Users call `requestRedeem` to signal their intent to exit the vault. Shares are transferred to the pending silo. Unlike deposits, redemption requests **cannot be cancelled** once submitted.
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#### <mark style="color:$primary;">Settlement</mark>

<sup>**Curator batches and processes requests at a valuation point**</sup>

The valuation provider submits a NAV. The curator reviews, approves, and calls `settleRedeem`. All queued redemption requests are processed at this single valuation point. The corresponding assets are unlocked.
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#### <mark style="color:$primary;">Claim</mark>

<sup>**User receives assets after settlement**</sup>

After settlement, assets are available for the user to claim on the vault page. The curator **cannot** claim on behalf of users for redemptions. Each user must trigger their own claim transaction.
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