Redemption Rules & Process

Term definitions:

a. Stake; Refers to subscribing to Premium Yield Generation

b. Unstake; Refers to redemption of all or part of the principal

c. Claim; Refers to redemption of all profits

d. Deposit; Refers to deposit of funds through BounceBit (without subscribing to Premium Yield Generation.)

e. Withdraw; Refers to redemption (on-chain)

BounceBit users require a redemption feature for floating income products in May 2024, this page will lay out the steps involved in achieving this via collaboration across BUs and organizations. Do note that all Unstake/Claim/Withdraw requests will only be supported on weekdays, any actions done over the weekend will be completed on the first business day of the following week.

Unstake and Claim Flow

  1. T + 0 day, the users click the "Unstake" and/or "Claim" buttons on BounceBit frontend

  2. T + 0 day 5.29pm SGT, cut-off time for Unstake and/or Claim requests

  3. T + 0 day 5.29pm SGT, BounceBit frontend "Unstake" and/or "Claim" available balance is updated for all users

  4. T + 0 day 5.30pm SGT, MND to record Unstake and/or Claim requests and total amount (Unstake + Claim) from LTP using T-1day data and inform all Asset Managers

  5. T + 0 day 6pm SGT, all Asset Managers acknowledge the Unstake + Claim request and start to allocate positions

  6. T + 7 days 11am SGT, MND to undelegate Unstake + Claim amounts to all Asset Managers Prime Wallets

  7. T + 7 days 12pm SGT, MND to transfer all Unstake + Claim amounts to BounceBit Co-Sign Wallet

  8. T + 7 days 12pm SGT, BounceBit frontend "Withdraw" available balance is updated for all users

Withdraw Flow

  1. T + 0 day, the user clicks the “Withdraw” button on BounceBit frontend

  2. T + 0 day 1pm SGT, cut-off time for Withdraw requests

  3. T + 0 day 3pm SGT, MND to transfer all Withdraw amounts from BounceBit Co-Sign Wallet to BounceBit on-chain contract

  4. T + 0 day 3pm SGT, the user will receive the total Withdraw amount from the BounceBit on-chain contract

  5. T + 0 day 3pm SGT, BounceBit frontend "Withdraw" available balance is updated for all users

PreviousEasyNextAsset Withdrawal Process

Last updated