> For the complete documentation index, see [llms.txt](https://sovavault.gitbook.io/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://sovavault.gitbook.io/docs/sova-for-users/flow-of-funds/redemption-flow.md). # Redemption Flow **1. Submit Withdrawal Request** You initiate a redemption request via the Sova interface. * This request is logged in the strategy contract * Your tRWA tokens remain in your wallet until funds are ready **2. Off-Chain Liquidity Preparation** During the defined redemption window: * The issuer initiates withdrawals from the off-chain strategy * Assets are liquidated or rotated based on the strategy’s liquidity terms * Fiat proceeds are sent to the issuer’s wallet and prepared for on-ramping **3. Funds Returned On-Chain** The issuer reconverts fiat to crypto (USDC or BTC) and deposits it into the strategy contract. * The deposit is matched against pending redemption requests * Timing depends on strategy type—ranging from T+2 days to 30+ days for less liquid positions **4. Token Burn & Payout** Once the funds are available: * You burn your tRWA tokens in the app * In return, you receive the underlying crypto (USDC or BTC), including any accrued yield ⏳ **Redemption Timing**\ Redemption windows and liquidity timelines vary by strategy. Faster access options are available for shorter-term products, while longer-duration strategies may require more time to unwind.