Minting & Redeeming

How to deposit funds to mint WLP and how to withdraw.

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Minting (Deposit)

Deposit USDC or USDsui to instantly mint WLP tokens.

Flow: WLP Page → select token (USDC or USDsui) → enter amount → confirm → receive WLP

The number of WLP minted is calculated at the current NAV:

WLP Received = Deposit Amount / NAV per WLP

Mint Fee: 0% (free).

Example:

Deposit: 10,000 USDC
NAV per WLP: $1.05

WLP Received = 10,000 / 1.05 ≈ 9,523.81 WLP

Minting is instant. You receive WLP tokens immediately after the transaction confirms.

Redeeming (Withdrawal)

Withdrawals use a Request + 24h mechanism.

Flow: WLP Page → select withdrawal token (USDC or USDsui) → enter WLP amount → Request Withdrawal → wait 24h → auto-settled to wallet

1

Submit request

Choose the amount of WLP to redeem and submit the request.

2

Waiting period

Auto-settles within 24 hours after the request.

3

Settlement

Calculated at the WLP share price at the time of settlement. Your chosen token (USDC or USDsui) is sent directly to your wallet.

4

Cancellable

You can cancel the request at any time before settlement.

Settlement amount calculation:

Amount Received = WLP Amount × NAV per WLP (at settlement) × (1 − Withdraw Fee)

Withdraw Fee: 0.01% (flat rate).

Example:

Redeem: 9,514 WLP
NAV per WLP at settlement: $1.08
Withdraw Fee: 0.01%

Amount Received = 9,514 × $1.08 × (1 − 0.0001) = $10,274.11

The redemption settlement price is the NAV at the time of settlement, not at the time of request. NAV may rise or fall during the 24-hour period.

Utilization Cap

When pool utilization exceeds 80%, new redeem requests are rejected. This ensures there is sufficient liquidity in the pool to support existing trader positions.

Utilization = Total Open Interest / Pool Total Value

During high utilization periods, you may not be able to submit a redeem request. Wait for utilization to decrease before trying again.

Pending Withdrawal Deduction

After submitting a request, the pending WLP is deducted from the utilization calculation, ensuring accurate utilization numbers for other users.

WLP Token

WLP is a standard Sui token and can be freely transferred. You can:

• Hold it in your wallet

• Transfer it to another address

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Minting is instant and free. Redeeming requires a 24-hour waiting period. Settlement uses the NAV at the time of settlement. Utilization above 80% blocks new redeem requests.