Redemptions
3.1. Redemption Request
To redeem the investment (i.e. withdraw the liquidity), the Investor sends the Fund units back to the Fund.
3.2. Lockup Period Check
The timestamp is checked to confirm that the lockup period (if any) applied to the investment has elapsed.
If not, the redemption is rejected. Otherwise, the redemption request is added to the pending redemption list.
Subscription_block.tinestamp - redempton_block.timestamp > lockup_period False: send units back / reject redemption request True: add to pending_redemptions_queue
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3.3. Liquidity Withdrawal
After the latest NAV calculation has been submitted (see NAV Calculation section), the Fund burns the redeemed shares and sends the liquidity back to the Investor according to the following formula:
liquidity_withdrew = NAV_unit_price * redeemed_shares - exit_fee
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Operations