Exiting & redeeming
Approval, exit submission, pending requests, Claim, and common redemption problems.
Real ETH at risk
Everstrat is an experimental, unaudited protocol in a testing phase on Ethereum mainnet. Redemption depends on pause state, valuation, liquidity, and request conditions. There is no guaranteed settlement deadline.
For a short walkthrough, see Your first exit. This page explains the transactions and states you may see afterward.
One exit request. Two liquidity paths.
Free ETH excludes lockedForClaims. Immediate exits burn EVE and pay ETH in the same transaction. Queued exits escrow EVE on AMM, then require keeper settlement and a separate user claim.
Review and submit
- Select Burn, enter an EVE amount, and review the estimated ETH and max slippage.
- If the app shows Approve EVE, verify the AMM spender and allowance, confirm the approval transaction, and wait for its receipt. Approval does not submit an exit.
- Review the quote again, then select Burn and confirm the separate exit transaction.
The maximum EVE input caps both immediate burning and queued escrow; price tolerance additionally checks queued settlement against the request-time price. Read Pricing & the bonding curve for the exact protection on each path. Keep ETH in your wallet for gas.
When an exit queues
At the dated snapshot, all AMM ETH was reserved for existing claims, so new exits queue. If the AMM has enough unreserved ETH when you submit, the exit instead settles in one transaction and needs no Claim. The redemption queue explains this check.
On the queued path, EVE is escrowed on the AMM and the request waits in ExitQueue. Keepers must price and process it. Submission, processing, and withdrawal are separate events:
| State | What it means for you |
|---|---|
| Queued and unprocessed | EVE is held by the AMM; ETH has not been paid. Review the request on Portfolio. |
| Processed successfully | EVE is burned and ETH is credited, but still held for your Claim. |
| Claimed | A separate Claim transaction transfers credited ETH to your wallet. |
| Closed for slippage | EVE is returned instead of ETH; review a fresh quote before trying again. |
| Cancelled | Escrowed EVE is returned and no ETH is paid. |
Claim credited ETH
When ETH is available to claim, select Claim on Portfolio, confirm in your wallet, and wait for confirmation. A successful Claim withdraws the available credited balance, which can include more than one processed request.
Processed requests cannot be cancelled. Their credited ETH remains claimable after the queue processing window ends. AMM pause alone does not block Claim or eligible cancellation.
Pending requests and cancellation
An existing pending request in the current batch can block another exit submission. Review the request on Portfolio instead of repeatedly clicking Burn.
Cancellation is available before batch pricing, or after the three-day processing window for a request that is still unprocessed. During that window, cancellation is blocked. Once the window has passed, an unprocessed request can no longer be settled: cancel it to recover EVE, then submit a new request if you still want to exit.
For the exact minimum size, batch timing, tolerance checks, and cancellation boundary, see The redemption queue, in depth. The queue keeper's scheduling policy is described in Keepers and automation.
Common blockers
- Minimum queued amount: rely on the live warning and ETH quote. The minimum is ETH-denominated, so its EVE equivalent changes with price.
- AMM paused or NAV unavailable: normal exit submission may be blocked. Check current state; do not assume a previously displayed quote is still usable.
- Keeper delay or insufficient liquidity: there is no guaranteed completion time. Check request state and eligible actions rather than assuming a pending exit has failed.
- Approval pending: wait for confirmation before submitting Burn. If the amount changes, the app may require a different allowance.
See Fees & costs and Tracking your position for costs and account history.
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