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Withdraw liquidity

Use this guide to burn your yb-LP shares and get your asset back from a YieldBasis market. The steps have you check the Temporary Redemption Discount before you withdraw.

Check the Temporary Redemption Discount first

If the market's Temporary Redemption Discount (TRD) is negative, a withdrawal at that time makes the discount a realized loss. TRD is the signed gap between Redemption Value and Fundamental Value. Redemption Value is the amount that a withdrawal returns now. Fundamental Value is the oracle-priced accounting value of one share. For why TRD appears and how the gap closes, read Fundamental Value, Redemption Value, and TRD.

Prerequisites​

Check that you have each of these:

  • yb-LP shares, in the Yield Bearing Vault or in the Staked Vault. A withdrawal from the Staked Vault unstakes and withdraws in one step.
  • ETH for gas.

Steps​

  1. Go to yieldbasis.com.

  2. Open Earn, and then My Markets.

  3. Select the market.

  4. Check Market TRD and your My TRD. Market TRD is the TRD of the whole market, and My TRD is the TRD of your position.

  5. Compare Redemption with Fundamental Amount. Redemption shows the Redemption Value of your shares, and Fundamental Amount shows the value of your shares at Fundamental Value. When Redemption is below Fundamental Amount, your My TRD is negative.

  6. If Redemption is below Fundamental Amount and the withdrawal is not urgent, stop. Check TRD again later.

  7. Select the vault that holds your shares, and then Withdraw.

  8. Enter the amount to withdraw.

    The panel shows the amount that you receive. This amount is the live Redemption Value.

    Withdraw tab: burn YB-tBTC shares, receive the underlying asset back to your wallet

  9. Submit the withdrawal.

  10. Sign the transaction.

Result​

The market burns your shares and sends the underlying asset to your wallet.

The amount that you receive includes the Curve pool's fee on the imbalanced part of the withdrawal, at half the pool fee rate. For the fee rate on a pool that runs the oracle-report policy, read Pool policies.

If you receive less than Fundamental Value × shares, the cause is TRD, price-per-share drag, or, for a staked position, a watermark shortfall. For what each cause is, how it forms, and whether waiting reverses it, read Fundamental Value, Redemption Value, and TRD.

If the withdrawal reverts​

The app sends a minimum asset amount, based on your slippage setting. If the price moves past it, the transaction reverts and you keep your shares. Before you try again, check TRD again.