Redemption

Redeeming your receipt tokens is a two-step process. This design ensures fair settlement pricing and orderly unwinding of vault positions.

Caution

There is a waiting period between Step 1 and Step 2. Redemptions are processed when the next settlement occurs, so you may need to wait before completing your withdrawal.

Step 1 — Queue Redemption

1. Go to eigenyields.xyz/vault/{symbol} for the vault you want to redeem from.
2. Connect your wallet and sign in with Ethereum (SIWE).
3. In the “Queue Redemption” section, enter the amount of receipt tokens you want to redeem.
4. Approve the receipt token to the AVS contract if you haven’t already.
5. Submit the requestUnallocate transaction — this burns your receipt tokens and queues your redemption.

Your redemption request is now pending. The vault will process it when the next settlement occurs.

Step 2 — Complete Withdrawal

Once settlement has processed your redemption:

1. Return to the vault page. The “Complete Withdrawal” section will appear.
2. Sign an EIP-712 authorization message — this is an off-chain signature that authorizes the AVS to deposit tokens back into EigenLayer’s strategy on your behalf via depositIntoStrategyWithSignature.
3. Submit the completeUnallocate transaction — this executes the withdrawal and returns the underlying LST to your wallet.

The amount you receive is calculated based on the price per share at the time of settlement.

Checking Redemption Status

You can check whether your redemption is ready to complete on the vault page at eigenyields.xyz. The “Complete Withdrawal” section will appear once your redemption has been processed.

Caution

Do not transfer your receipt tokens after queuing a redemption. The redemption is tied to your wallet address and the tokens are burned during the queue step.