Withdraw
Withdraw by unstaking sPLUSD to PLUSD, submitting the PLUSD to the withdrawal queue, waiting for Bridge to fund the entry from the Capital Wallet, and claiming USDC in an atomic burn-and-pay transaction.
How the flow works
- Unstake sPLUSD by calling
sPLUSD.redeem(shares)— PLUSD returns to the lender (skip this step if you already hold PLUSD). - Call
WithdrawalQueue.requestWithdrawal(amount)— PLUSD moves into escrow, aqueue_idis assigned, and the caller must still be whitelisted with a fresh screen. - Bridge observes the request and calls
fundRequest(queueId)under the FUNDER role in strict FIFO order. - USDC is pulled from the Capital Wallet to the queue via a pre-approved allowance cosigned at deployment — Bridge never custodies USDC itself.
- The queue entry moves from Pending to Funded.
- The lender calls
claim(queueId)— PLUSD burns and USDC transfers to the lender in the same transaction.
Destination rule. The USDC payout always goes to the original deposit address on record. A different destination requires a manual path with Trustee and Team co-signature — not the auto flow. This rule is enforced by the custodian's MPC policy engine.
Caps and queueing
Bridge funds up to $5M per fundRequest call and up to $10M per rolling 24 hours. Above-envelope requests route to the team and trustee signing queue for manual co-signature. MVP has no partial fills and no lender-initiated cancellation once PLUSD enters escrow.
What can delay your withdrawal
- Capital Wallet USDC buffer below 15% (target band 10–20%) triggers a USYC redemption through the custodian before funding, which adds about one day.
- Queue depth above your position — strict FIFO means older requests settle first.
- Your wallet’s KYC freshness expired between request and claim — unlikely unless you stop using the app for 90 days mid-queue.
Shutdown-mode exit
If the protocol enters shutdown, the auto flow halts and withdrawals switch to the claimAtShutdown path at a fixed recovery rate. See Defaults and Losses for the full mechanics, including how the recovery rate is set and ratcheted.