Partial and Flexible Withdrawals

The ELPP system offers flexibility in how you execute your withdrawals once they reach their unlock epoch:

Multiple Withdrawals per Epoch

  • You can split your withdrawal into multiple smaller transactions within your unlock epoch

  • Each withdrawal reduces your remaining available amount for that epoch

  • This gives you the flexibility to withdraw portions of your funds as needed

Example:

  • You request to withdraw 1,000 ELPP tokens.

  • During your unlock epoch, you may:

    • Withdraw all 1,000 tokens at once, or

    • Withdraw 400 tokens initially, leaving 600 tokens,

    • Later withdraw another 300 tokens, leaving 300 tokens,

    • Finally, withdraw the remaining 300 tokens, or leave them in the pool.

Withdrawal Request Cancellation

  • You can cancel an entire withdrawal request if you no longer wish to withdraw

  • Alternatively, you can reduce the amount in your request if you wish to withdraw less than initially planned

Benefits of Cancellation

  • Immediately unlocks the canceled tokens for transfers

  • Allows you to adjust your liquidity strategy based on changing market conditions

  • Provides flexibility if you no longer need to withdraw as much as originally requested

Important Considerations

Fixed Withdrawal Windows

  • Withdrawals must be executed within the designated epoch.

  • Missing this window causes the request to expire.

Dynamic Timelock

  • Future withdrawal requests will reflect changes in the PNL ratio, but once a request is created, its assigned timelock remains fixed

Role of the Global Epoch

  • A global epoch (7 days) sets a stable baseline (collateralization level) for the pool.

  • Profit distribution occurs only if the pool's value meets or exceeds this baseline.

  • If the baseline isn't reached, profits are not distributed, and losses roll over.

Example Scenario

Current Situation:

  • Today is July 10, 2023, and the current normal epoch is 63

  • The system's PNL ratio is 5% (moderate profit), resulting in a timelock of 2 epochs

Withdrawal Request:

  • You request to withdraw 1,000 ELPP tokens

  • Unlock Epoch = 63 + 2 = 65

  • Your funds will become available during epoch 65 (e.g., July 16–18, 2023)

Processing Window:

  • You must process the withdrawal during epoch 65

  • If you miss this window, the request expires and a new request must be submitted

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