> For the complete documentation index, see [llms.txt](https://docs.re.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.re.xyz/minting-and-redemptions/redemptions.md).

# Redemptions

| **Parameter**             | **reUSD**                                                                                                                                                                                                                                                                | **reUSDe**                                                                                                                                                                                                                                                                  |
| ------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| **Cadence**               | Instant while the liquidity buffer is available, subject to a per day cap of 20% of the available redemption pool and a per wallet cap of 10% of that daily pool. Switches to a quarterly window if the buffer is exhausted (i.e. falls below 1% of total reUSD supply). | Decisions on whether reUSDe can support a redemption are made on a quarterly basis. This decision is made based on regulatory collateral requirements and contract collateral release. Redemption windows will be announced via Re's X account and official Discord server. |
| **Queue mechanism**       | First-come, first-served while instant buffer is available; then joins quarterly queue                                                                                                                                                                                   | Split proportionally across all requests in the quarterly window                                                                                                                                                                                                            |
| **Payout ratio**          | 100% while buffer > 1% of supply; split proportionally in quarterly window                                                                                                                                                                                               | Pro-rata across all requests in the window; payout ratio = (available window capital) ÷ (total requested). Unfilled balances roll to the next window and continue earning yield.                                                                                            |
| **Execution price**       | NAV at time of redemption processing (daily update at UTC 00:00)                                                                                                                                                                                                         | Price of reUSDe at the claim time.                                                                                                                                                                                                                                          |
| **Fees**                  | Refer to current fee schedule                                                                                                                                                                                                                                            | Refer to current fee schedule                                                                                                                                                                                                                                               |
| **Cancelability**         | Requests in queue can be cancelled; instant redemptions are final                                                                                                                                                                                                        | Requests can be cancelled before the quarterly window closes                                                                                                                                                                                                                |
| **KYC revocation impact** | Request cancelled; tokens returned                                                                                                                                                                                                                                       | Request cancelled; tokens returned                                                                                                                                                                                                                                          |

Live redemption capacity and queue status are visible at [app.re.xyz/transparency](https://app.re.xyz/transparency).

## Liquidity Policy & Buffers

Re's liquidity management is designed to support routine redemptions while keeping the majority of capital productively deployed.

### reUSD instant buffer

* Based on 50% of the highwater mark of reUSD total deposits
* Composed of: idle onchain stablecoin balances, capital not currently allocated to active reinsurance contracts, and repayments from maturing reinsurance contracts
* **Exhaustion trigger**: If the redemption buffer falls below 1% of total reUSD supply, the contract automatically switches to quarterly-window-only mode.
* **Replenishment**: The buffer refills as reinsurance contracts repay principal along with the spread or as the quarterly window settles with excess capital.
* Live buffer size is published in real time at [app.re.xyz/transparency](https://app.re.xyz/transparency).

### reUSDe quarterly window capital (once active)

Decisions on whether reUSDe can support a redemption are made on a quarterly basis. This decision is made based on regulatory collateral requirements and contract collateral release. Redemption windows will be announced via Re's X account and official Discord server.

If total requests exceed available capital, the window fills pro-rata.

### Offchain reserve attestation

Offchain trust balances (all held with an independent bank/custodian) are verified daily by The Network Firm via read-only account access, with results published through a Chainlink oracle. This ensures transparent, verifiable proof of collateral at all times.

***

<sub>*For educational and informational purposes only. Nothing on this Site is investment, financial, legal, or tax advice, or an offer, solicitation, or recommendation to buy, sell, or hold any digital asset, including reUSD and reUSDe. Yields are not guaranteed and all figures are illustrative, not a promise of return; past performance is not a reliable indicator of future results. Digital assets involve significant risk, including total loss of principal — the Tokens are not bank deposits and are not insured by any government agency. The Tokens are available only to eligible non-U.S. persons in permitted jurisdictions and are subject to KYC/AML requirements. The binding terms of the applicable agreements govern and prevail over this summary. See our full*</sub> [<sub>*Disclosures*</sub>](https://re.xyz/disclosure) <sub>*for important additional information.*</sub>