Redemption request

Create a redemption request on the shares contract to exit a fund.

Redeeming is a single step — no approval is needed, because the shares contract pulls the shares you already hold into escrow:

function requestRedemption(
    uint256 sharesIn,       // amount of shares to redeem
    uint256 minAssetsOut,   // slippage protection, applied AFTER the redemption fee
    address redemptionAsset,// must be approved for redemptions (canRedeem = true)
    address receiver        // who receives the assets
) external returns (uint256 requestId);

minAssetsOut is slippage protection measured after the redemption fee. The operator's settlement must yield at least minAssetsOut assets or the request fails. Derive it with previewRedemption, which already deducts the fee — see Calculate share price.

Example

Redeeming 500 shares (18 decimals) for USDC, with a 0.5% slippage tolerance.

viem

import { createWalletClient, createPublicClient, http, parseAbi, parseUnits } from "viem";
import { privateKeyToAccount } from "viem/accounts";
import { mainnet } from "viem/chains";

const SHARES = "0x...";  // fund shares contract
const USDC   = "0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48";

const sharesAbi = parseAbi([
  "function previewRedemption(uint256 shares, uint256 sharesPrice, address redemptionAsset) view returns (uint256)",
  "function requestRedemption(uint256 sharesIn, uint256 minAssetsOut, address redemptionAsset, address receiver) returns (uint256)",
]);

const account = privateKeyToAccount("0x...");
const pub = createPublicClient({ chain: mainnet, transport: http() });
const wallet = createWalletClient({ account, chain: mainnet, transport: http() });

const sharesIn = parseUnits("500", 18); // 500 shares

// Estimate assets out (net of the redemption fee) at the last settled price, then apply slippage.
const expectedAssets = await pub.readContract({
  address: SHARES, abi: sharesAbi, functionName: "previewRedemption",
  args: [sharesIn, 0n, USDC],
});
const minAssetsOut = (expectedAssets * 9950n) / 10000n;

const hash = await wallet.writeContract({
  address: SHARES, abi: sharesAbi, functionName: "requestRedemption",
  args: [sharesIn, minAssetsOut, USDC, account.address],
});

ethers.js

import { ethers } from "ethers";

const SHARES = "0x...";  // fund shares contract
const USDC   = "0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48";

const sharesAbi = [
  "function previewRedemption(uint256 shares, uint256 sharesPrice, address redemptionAsset) view returns (uint256)",
  "function requestRedemption(uint256 sharesIn, uint256 minAssetsOut, address redemptionAsset, address receiver) returns (uint256)",
];

const provider = new ethers.JsonRpcProvider("https://eth.llamarpc.com");
const signer = new ethers.Wallet("0x...", provider);
const shares = new ethers.Contract(SHARES, sharesAbi, signer);

const sharesIn = ethers.parseUnits("500", 18);

const expectedAssets = await shares.previewRedemption(sharesIn, 0n, USDC);
const minAssetsOut = (expectedAssets * 9950n) / 10000n; // 0.5% slippage

const tx = await shares.requestRedemption(sharesIn, minAssetsOut, USDC, await signer.getAddress());
await tx.wait();

Python

from web3 import Web3

SHARES = "0x..."  # fund shares contract
USDC   = "0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48"

shares_abi = [
    {"name": "previewRedemption", "type": "function", "stateMutability": "view",
     "inputs": [{"name": "shares", "type": "uint256"}, {"name": "sharesPrice", "type": "uint256"},
                {"name": "redemptionAsset", "type": "address"}],
     "outputs": [{"type": "uint256"}]},
    {"name": "requestRedemption", "type": "function", "stateMutability": "nonpayable",
     "inputs": [{"name": "sharesIn", "type": "uint256"}, {"name": "minAssetsOut", "type": "uint256"},
                {"name": "redemptionAsset", "type": "address"}, {"name": "receiver", "type": "address"}],
     "outputs": [{"type": "uint256"}]},
]

w3 = Web3(Web3.HTTPProvider("https://eth.llamarpc.com"))
acct = w3.eth.account.from_key("0x...")
shares = w3.eth.contract(address=SHARES, abi=shares_abi)

shares_in = 500 * 10**18  # 500 shares

expected_assets = shares.functions.previewRedemption(shares_in, 0, USDC).call()
min_assets_out = expected_assets * 9950 // 10000  # 0.5% slippage

req = shares.functions.requestRedemption(
    shares_in, min_assets_out, USDC, acct.address
).build_transaction({"from": acct.address})
# ... sign & send req ...

Events

Creating a redemption request emits a RedemptionRequest event containing the requestId, cancelableFrom, and expiryAt. Track it as described in Monitor a request.

Redemption flow example