When you withdraw from Superform, you typically receive the underlying vault asset (ex. USDC) or any other token of your choice. Alternatively, if you enable the Retain Vault Shares setting, you will receive the vault share token when you withdraw. This vault share is a receipt of your deposit in the vault and can be redeemed on the original protocol's native app.
How do I retain vault shares and complete my withdrawal?
The Retain Vault Shares setting can be found in transaction settings. This setting is disabled by default and should remain disabled unless you specifically want to receive vault shares. Some vaults with withdrawal restrictions will automatically give you vault shares (see Multi-Step Vaults).
Once you enable the setting, you will complete the withdrawal as normal. When the withdrawal is complete, you will receive vault shares in your wallet. These vaults shares can then be redeemed on the original protocol's native app. The link to complete the withdrawal process can often be found on SuperScan for the transaction.
Why should I retain vault shares?
Some vaults have unique withdrawal requirements which cannot be fulfilled by Superform. In these cases, you can retain vault shares and then complete the withdrawal on the protocol's native app.
There are several reasons why you might want to retain vault shares:
The vault has no available liquidity
The vault has a timelock or withdrawal queue
The vault has an implementation issue which causes errors
You want to use the vault shares in another DeFi protocol
Redeeming vault shares through the contract
Not all vaults have a frontend website through which you can redeem vault shares. If you retain vault shares for a vault with no frontend, you will have to redeem through the vault contract.
Navigate to the contract's page on the relevant blockchain explorer. The link to the contract can be found on the vault details page. For example, you can find the contract for SuperUSDC on the SuperUSDC vault details page.
The contract link will take you to the contract on a block explorer. Click on the Contract tab, click on the Write as Proxy tab, and then find the
redeemfunction. For SuperUSDC that is here.
Connect your wallet (Connect to Web3) then input the following information:
shares: the number of vault shares you hold (ex. ysUSDC is the vault share for SuperUSDC). You must account for decimals. Decimals can be found in the
decimalsfunction under the Read as Proxy tab. ysUSDC has 6 decimals, so if you hold 1 ysUSDC you should input 1000000 for shares.
receiver: your address
owner: your address (or whatever address you want to receive the tokens
Once you have entered this information, click Write and sign the transaction in your wallet. Check the wallet simulation to ensure you are receiving the correct amount of tokens.
