Do not use this functionality unless you want to exchange your C20 tokens directly for ETH at the current NAV. This function is NOT used to send tokens or claim them from our website.
The withdrawal functionality is directly coded into the smart contract. Any whitelisted Ethereum address can withdraw at any time - we provide a simple interface here to allow ease of access.
Verified token holders are able to whitelist their own ethereum addresses which can then be used to withdraw the Net Asset Value of their C20 tokens (in ETH). This withdrawal functionality enforces a lower price bound on the C20 token's exchange value. We directly link the underlying asset value of the fund to all tokens via regular price updates.
Withdrawing ETH by liquidating your tokens is a simple 3 step process.
Please note that in order for your transactions to be processed within a reasonable time, you need to select a higher gas price than the default used by Metamask. Before confirming the transaction and clicking "Submit" within Metamask you should set the Gas Price to be 20 Gwei or higher. A real-time recommended Gas Price can be seen on https://ethgasstation.info/
Make sure you have a whitelisted Ethereum address that has a balance of C20 tokens. You are able to whitelist an address within your account page once you have logged in and are verified.
Request a withdrawal by specifying the number of tokens you wish to liquidate. You are not able to cancel a request once it's made.
Wait for the next price update event, this occurs every hour. The smart contract uses a forward pricing policy, which means that your withdrawal is processed at the next token price update event.
As a result, you may get slightly more or less ETH than what the NAV indicates at the time of the withdraw request.
Withdraw your ETH. Upon clicking withdraw, your tokens are sent to the fund managers and ETH is transferred to your account.
*Note that we never need to know your private keys, all transactional information is handled by Metamask or an Ethereum client of your choice. Anyone is free to create their own Dapp interacting with our smart contract.