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

# Deposit & Withdraw

### Deposit

1. Connect your wallet
2. Select an amount of USDC or USDT, and approve the transaction
3. Once confirmed, funds are automatically routed into SHRED's strategy

Your full deposit amount is reflected in your balance immediately and begins earning yield right away. There are no deposit fees — see Costs & Fees for details.

In the early days, SHRED enforces TVL caps to ensure the strategy scales responsibly. These caps protect the system from capacity constraints and are gradually raised as strategy limits expand.

### Withdraw

1. Connect your wallet
2. Click the "Withdraw" button
3. Enter the amount and confirm the transaction
4. Receive your funds — either instantly or after a short processing period

#### Instant vs queued withdrawals

The vault maintains a pool of liquid USDC to service withdrawals on demand. When you request a withdrawal, the app checks the available funds in the smart contract:

* **If enough USDC is available**, your withdrawal is processed instantly. The estimated withdrawal time in the app will show as immediate.
* **If the vault needs to free up capital**, your withdrawal is queued while the strategy unwinds positions to generate the required USDC. This can take up to 48 hours. Once your withdrawal is ready, you'll be able to claim it from the app.

Queued withdrawals are most likely during periods of high withdrawal volume, when many users are exiting at the same time and the vault's liquid reserves are temporarily depleted.

#### When does yield stop accruing?

Your shUSD is burned at the moment you submit your withdrawal request. This means yield stops accruing immediately when you withdraw — not when you claim. There is no benefit to delaying your claim once it's ready.

#### Price impact on withdrawal

A small price impact cost is deducted from your withdrawal amount. This covers the real costs of entering and exiting the strategy (swaps, trading fees, bridging, etc.) and is not a fee taken by SHRED. The rate is dynamic and shown in the app before you confirm. See Costs & Fees for a full breakdown.

#### Good to know

* Your withdrawal amount is calculated based on your balance and the price impact rate shown at the time of withdrawal
* The protocol currently operates natively on Ethereum L1 with additional HyperEVM support, with plans to expand to additional chains in the future
* For a deeper look at how deposits and withdrawals work under the hood, see the Technology page


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