Redemption

What your token can claim

The reserve uses its actual underlying-token balance and the active claim supply at execution. Unreleased tokens still in the release vault do not participate. The payout is rounded down to the underlying token’s smallest unit.

What happens when you redeem

You approve the family’s reserve vault to spend the cAsset amount, then submit a redemption. The vault pulls that amount from your wallet, burns the tokens it received, and pays the underlying asset to the chosen recipient. A minimum-output check protects the amount you receive.

An approval is a spending permission, not a transfer by itself. Use the exact verified contract and review the allowance. You cannot redeem someone else’s tokens or the unreleased inventory simply by choosing a different recipient.

No Catch pause or price oracle

Catch’s reserve redemption has no operator pause. It does not use the pool price or a USD oracle, and it does not depend on the primary release gate being open. You still need a valid balance, allowance, a non-zero payout and gas.

This does not remove external risks. An issuer-controlled underlying token may pause or block transfers, and chain or wallet availability may prevent a transaction. A successful quote is not a guarantee that a later transaction succeeds.

Backing is not a guaranteed sale price

The displayed NAV is a gross pro-rata reserve amount at an observation. Pool liquidity, price impact and trading charges are separate. USD values are conversions; the reserve pays its underlying token, not dollars. V1 cAsset redemption does not apply the proposed exit forfeits discussed for a future platform-token programme.