Redeem Lot tokens
Redeeming burns Lot tokens and returns every component in their fixed recipe. It applies to the Lot token itself, not a launch token that trades against it. For screen instructions, follow Mint and redeem.
What redemption returns
The vault and per-token quantities determine the output. For the example recipe, redeeming 120 Lot tokens returns 0.6 X, 0.72 Y and 1.2 Z, regardless of dollar-price changes.
Normal redemption cannot select one favored component or substitute another. Outputs round down at atomic precision; surplus creates no automatic administrator or last-holder withdrawal right. See accounting.
Review the vault, burn amount, every output, recipient and gas before signing. Upcoming Dynamic Lots instead return shares of current managed holdings.
Holding the right token
A launch-token holder must first sell for Lot tokens through available liquidity. Lot inventory inside a launch pool is not the holder's wallet balance and cannot be directly redeemed by them.
Redemption and routed exits
| Intended result | Required path |
|---|---|
| Components from a Lot | Burn Lot tokens and transfer every component |
| USDG from a Lot | Sell through the available Lot market; Liquidate opens this route from Portfolio |
| Lot tokens from a launch token | Sell through the launch pool |
| Components from a launch token | Sell for the Lot, then use Redeem |
| ETH from a launch token | Swap, redeem and sell every component in the quoted route |
A component may be transferable without an executable ETH market. In-kind redemption can therefore succeed when an ETH exit cannot. A failed route cannot substitute another output; that requires a fresh, explicit quote.
Settlement and impairment
Healthy redemption burns and transfers atomically. If one component cannot transfer, complete redemption reverts; gas may still be spent. Check the receipt for the burn and outputs.
The separate Skip action permanently forfeits the skipped share. Authorized recovery instead preserves impaired-component claims while distributing healthy assets. These are different choices.
Lots charges no redemption protocol fee. Gas and later trades remain costs. Healthy in-kind redemption needs no dollar feed or indexer.