Matured Markets: Redemption & Rolling-Over
A quick example of how to redeem your tokens and roll your liquidity to a new maturity!
Last Thursday, March 24th, marked the completion of our first mainnet cUSDC market! 🏁🏁
As the market comes to maturity there are a few tasks you want to make sure to complete so that you can redeem your yield and principal, and re-invest in our upcoming new markets!
Navigate to your Positions page on Swivel Exchange.
Click, “Redeem” in the zcToken Balance column to redeem your zcTokens for underlying!
Redeeming nToken Interest
Similarly, navigate to your Positions page.
Click, “Redeem” in the interest column to redeem your interest!
Rolling Over Your Fixed-Rate
After redeeming your zcTokens and/or interest, the next step in your lending journey is to roll over to a new maturity!
Doing so is simple:
Navigate to the homepage on our Exchange.
Choose your asset and maturity.
Lend for a fixed-rate!
For our additional documentation regarding maturity, check out the newly updated:
Given nTokens represent the potential future interest generated by a deposit, as a market’s maturity gets closer, the value of a nToken approaches 0.
After maturity, nTokens no longer generate interest, and nTokens can no longer be traded through our exchange.
Given zcTokens represent the claim to a deposited token at maturity, as a market’s maturity approaches, the value of a zcToken approaches 1 deposited token.
After maturity, zcTokens can be redeemed 1-1 for their underlying deposit.
Unredeemed begin to generate interest until redemption, ensuring users never need to rush to redeem their tokens.
About Swivel Finance
Swivel is the protocol for fixed-rate lending and tokenized cash-flows.
Currently live on Rinkeby and on Mainnet, Swivel provides lenders the most efficient way to lock in a fixed rate as well as trade rates, and liquidity providers the most familiar and effective way to manage their inventory.