Withdrawing burns fund tokens and pays you the same share of each asset the treasury holds. The treasury has no owner, so withdrawal is always available directly.

In the interface

On the fund's Treasury page, the Withdraw panel sits beside the holdings. On a phone it opens from the Withdraw button. This is separate from removing pool liquidity under Trade › Liquidity; see Add liquidity.

1. Under You burn, enter how many fund tokens to burn, or press 25%, 50%, 75% or Max. The panel shows the estimated value you receive.
2. Under You receive, check the list. Every listed asset is included, and each shows the amount you will receive. Your share of anything left off the list is lost for the tokens you burn.
3. Press Withdraw and check the review. Tick I understand my share of unlisted holdings is forfeited, then press Withdraw and confirm in your wallet. Your wallet may first ask to approve the fund tokens for the Periphery helper; wallets that support batched transactions confirm both at once.

A withdrawal enforces a minimum of 99% of each listed asset’s estimate and a ten-minute deadline; if either fails, the whole transaction is cancelled. There is no withdrawal fee. The assets go to your connected wallet.

The Withdraw button stays unavailable until the fund’s list of assets has fully loaded, including the indexer’s answer, so that nothing it knows about is left off. If loading fails, the panel says so and offers Try again.

The math

For each listed token:

payout = floor(fundBalance * amountBurned / effectiveSupply)

Effective supply is total supply plus emission that the current miner has accrued but not yet minted, so pending mining rewards are already accounted for. Balances are read before the burn. Rounding is down in raw units.

For funds from the current Launchpad, the app withdraws through the Periphery helper. In the same transaction it first collects the swap fees the fund's pool owes the treasury, then burns the fund tokens the treasury holds, then calls the fund's redeem function, so your payout includes your share of those fees. The preview therefore subtracts the treasury's existing fund-token balance from effective supply; fees collected at execution can only raise your payout above the estimate. Display and preparation use the same supply assumption. Payouts remain estimates until execution; the helper checks each listed token's actual increase in your wallet against its minimum.

Assets that are not listed

The list comes from the fund’s launch record, its strategies and the indexer. A token sent straight to the treasury by someone else may not appear in the list, and your share of it is forfeited when you withdraw. Rebasing, fee-on-transfer and other nonstandard tokens are not supported: their balances do not follow the payout formula above.

After

Your fund tokens are burned and the listed assets arrive in your wallet. Because every holder gets the same share, backing per remaining token stays the same for those assets, apart from rounding.