> For the complete documentation index, see [llms.txt](https://takes.gitbook.io/takes-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://takes.gitbook.io/takes-docs/technical-design/redemption-sequence.md).

# Redemption sequence

Redemption returns the request's share of trading-account value and burns its tokens.

```mermaid
sequenceDiagram
    participant U as Holder
    participant T as Token
    participant S as Takes
    participant H as Hub and trading account
    U->>T: Submit signed redemption quote; lock tokens
    S->>H: Reduce positions and check available funds
    S->>T: Execute request
    T->>H: Request withdrawal for request's share
    H->>H: Price withdrawal from current equity
    H->>T: Return proceeds when available
    T->>T: Deduct fees; burn tokens; settle
    S->>T: Deliver original controller entitlement
    T->>U: Transfer net USDC
```

On Arc, Ethereum, Base, Arbitrum, and Monad, the withdrawal command and returning proceeds pass through Circle CCTP. Returning USDC uses Standard finality. Commands normally use Standard; supported Ethereum, Base and Arbitrum testnet deployments can enable immutable Fast command routing. This switch cannot be enabled on mainnet. See [Cross-chain security](/takes-docs/security-and-trust/cross-chain-security.md#cross-chain-security). HyperEVM uses local calls between its token and dedicated hub.

Starting execution does not fix a USDC quote. The hub prices the withdrawal when it executes, subject to the Core fee reserve.

Before returning proceeds, the hub checks that enough USDC has arrived. A small donation cannot force settlement far below the expected amount.

Redemption fees apply to actual proceeds at settlement. Locked tokens remain in supply until that settlement. Requests cannot be cancelled.

See [Accounting model](/takes-docs/technical-design/accounting-model.md#accounting-model) and [Failure and recovery](/takes-docs/security-and-trust/failure-and-recovery.md#failure-and-recovery).


---

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