reUSDe Redemptions, Live
Redemptions are gated by actuarial release as the underlying insurance programs mature and loss development clarifies. The first reUSDe redemption window opens July 9 and stays open through July 22.
reUSDe Redemptions,
Live.
Redemptions are gated by actuarial release as the underlying insurance programs mature and loss development clarifies, and are expected to continue quarterly pending regulatory and actuarial requirements. The first reUSDe redemption window opens July 9 and stays open through July 22. Claims open July 23. $1.5 million is available; if requests exceed that amount, payouts are pro-rata.
How the Window
Works
Redemptions can be submitted on the 9th of July until the 22nd, a period of 14 days. The claim period opens on the 23rd of July, and lasts 30 days. Redemptions are processed pro-rata, settled into sUSDe, and the queued redemption contract has been audited by Hacken.
A 14-day window to enter the redemption queue. Submissions made after July 22 will not be included in this window.
The claim period opens on July 23 and lasts 30 days. If you don't claim within 30 days, your claim period ends, and you'll only be able to get your reUSDe back, so don't miss it.
If less than $1.5M in reUSDe enters the redemption queue, everyone who submitted will have their redemption filled in full. If more than $1.5M is submitted, users will get their proportional share. As an example, if $3M in redemptions is submitted, users receive half of the requested redemption. The rest of the reUSDe gets transferred back to you in the claim transaction.
Redemptions are paid out in sUSDe, the same asset reUSDe is built on top of, so the redeemed value continues to accrue Ethena's underlying yield from the moment it lands in your wallet.
Your reUSDe keeps earning yield throughout the submit and claim windows. Capital does not go idle while sitting in the redemption queue.
How Buybacks
Flow Into the Price
Ahead of this first redemption window, reUSDe holders should see a step-up in NAV that reflects buyback activity executed over the seasoning period. The mechanics are straightforward.
All the buybacks have been executed from this wallet, using reUSDe's onchain backing that wasn't yet deployed offchain. The reUSDe that was bought back will be burned, which will increase the relative dollar backing per remaining reUSDe.
To properly reflect this and pass the appreciation back to reUSDe holders, we're increasing the reUSDe NAV ahead of the redemption window opening. reUSDe's total onchain backing holdings can be verified here.
Submit Your
Redemption
The redemption queue opens on July 9. Submit between July 9 and July 22, then return between July 23 and August 22 to claim your sUSDe.
Open App →Disclosures
This blog post is for informational and educational purposes only and does not constitute investment, legal, tax, or financial advice. Nothing in this article should be construed as an offer or solicitation to buy or sell any security, token, or financial product.
Product disclosure. reUSD & reUSDe are available only to non-U.S. persons in specific geographies through Resilience Foundation Cayman LLC ("Resilience Foundation"), an Exempted Limited Guarantee Foundation Company incorporated in the Cayman Islands with Limited Liability with registered number IC-414560. Not guaranteed. Purchasing reUSD and reUSDe tokens involves significant risk, including total loss of principal and smart contract vulnerabilities. Past performance is not a reliable indicator of future results. Yields are not guaranteed. Please assess your own risk.
Affiliate disclosure. The "re" brand, the re protocol, and re.xyz are operated by Resilience Foundation Cayman LLC ("Resilience Foundation"), an Exempted Limited Guarantee Foundation Company incorporated in the Cayman Islands with Limited Liability with registered number IC-414560, together with its affiliate Resilience (BVI) Ltd and Resilience Inv SPC. Resilience Foundation, Resilience BVI, and Resilience Inv do not provide insurance or reinsurance services, do not act as insurance broker or agent, and do not hold an insurance license. All regulated reinsurance activities are conducted exclusively by Cover Reinsurance SPC Ltd. ("Cover Re SPC"), a Class B(iii) licensed exempted segregated portfolio company in the Cayman Islands, operating under the "Cover Re" brand at coverre.com.
Risk disclosure. Digital assets and blockchain-based products involve significant risk, including the potential loss of principal, smart contract vulnerabilities, liquidity constraints, and regulatory uncertainty. Any references to APR, returns, or performance are not guaranteed, and past performance is not a reliable indicator of future results.
Regulatory environment. The regulatory environment for digital assets, stablecoins, tokenized real-world assets, and onchain financial products is dynamic and continues to evolve across jurisdictions. The information in this post reflects the understanding as of the date of publication and may not reflect subsequent legal or regulatory developments. Readers should consult qualified legal, tax, and financial professionals before making any decisions.
Terms apply. For full terms, disclosures, and risk disclaimers, please see the Re website at https://re.xyz, Terms of Service, and Disclaimers.
