Withdraw Liquidity

How to withdraw — and how to interpret what the UI shows you.

Steps

1. yieldbasis.com → Your Positions → Withdraw.

2. Enter amount. The UI previews:

   • Shares burned — derived from the live withdraw quote.
   • Assets received — the live redemption value (what you'll actually receive).

   

3. Confirm.

Why you might receive less than PPS × shares

Three distinct causes, all rare in normal operation. Read carefully — they're not the same thing if you encounter one.

1. Temporary Redemption Discount (TRD)

• Cryptoswap and LEVAMM are slightly out of sync.
• You're unwinding through Cryptoswap, paying slippage.
• Will resolve on its own — hours in high-volume periods, typically hours, longer in thin-arb conditions, as arbitrageurs close the gap.
• If you can wait, wait.
• Full explanation: Temporary Redemption Discount.

2. PPS drag (slow PPS growth)

• Cumulative rebalance slippage has exceeded accrued fees for the period you held.
• PPS has grown — but less than your entry PPS × asset-price-change would suggest. The drag is embedded in the vault's accounting (PPS itself), not a redemption-side timing gap.
• Unstaked LPs: visible as PPS growth below the pool's fee rate.
• No "discount" to wait out — it's baked into PPS. Forward fees can outpace forward drag and resume PPS growth, but past drag is past.

3. Staked watermark shortfall

• Applies only to staked positions.
• Your staked side (staked) is below its watermark (ideal_staked).
• Fees route preferentially to the staked side until parity.
• Will resolve when fees recover the gap. YB emissions during the wait are compensation.
• Full explanation: Watermark & Recovery.

How to tell which one you're hitting

Use the dashboard. Each panel maps to one of the three causes above.

1. Is your position staked?

• No → skip to step 3.
• Yes → step 2.

2. Check the staked-side watermark. On the market detail page, the Plain PPS vs Watermark PPS chart shows the watermark above the current staked value when there's a shortfall.

• Watermark above current → watermark shortfall. Wait, or accept the discount.
• Watermark roughly equal to current → skip to step 3.

3. Compare Redemption PPS to Fundamental PPS (Market detail → Market details panel).

• Redemption below Fundamental (negative Market TRD) → TRD. Wait — typically hours, longer in thin-arb conditions. Re-check.
• Aligned → step 4.

4. Compare current Fundamental Value to your deposit's value adjusted by asset-price change.

• Value below expected → PPS drag. Structural for this period; no waiting fixes it. See Fundamental Value, Redemption Value, and TRD.
• Value at or above expected → the position is performing as designed; you may have a mental-model mismatch. Check How YieldBasis Works.

The dev-level decision tree using direct contract reads (LT.liquidity(), preview_withdraw, pricePerShare) lives in Dev: Quote & Route.

Quick reference table

Symptom	Likely cause	Resolution
Redemption PPS below Fundamental PPS (negative Market TRD)	TRD	Wait — typically hours, longer depending on volume
Staked; watermark above current staked value on the market detail chart	Watermark shortfall	Wait; YB emissions are the compensation
Unstaked; value below deposit even after a long hold and TRD is 0	PPS drag	Structural — check Fundamental Value, Redemption Value, and TRD
Staked; redeem below deposit, TRD ≈ 0, staked at watermark	Mix of PPS drag + forfeited PPS growth	Compare against YB emissions earned — may still be net positive in asset terms

Related

• Fundamental Value, Redemption Value, and TRD: the full mechanics behind TRD and PPS drag.
• Watermark and Recovery: the staked-side drawdown mechanism in full.
• Staked vs Unstaked Economics: the staking decision as a trade.
• Analytics: every field on the analytics page explained.
• Action Flow: Withdraw: the on-chain withdraw sequence and event flow.