Withdrawing Collateral
Newly deposited collateral is held in the queue until the start of a new epoch. During this window, you can always withdraw collateral, without restrictions, penalties, or fees.
Upon withdrawal, your ERC1155 claim tokens will be exchanged for collateral at the same 1:1 rate applied at deposit.
Remember that at the end of the epoch, any collateral in the queue will be moved to the vault, and different rules for withdrawal apply.
Once funds have been moved from the queue to the vault, they only can be withdrawn without taking any exposure to a short position after a new epoch starts (Friday at 8AM UTC) and before the auction starts (Friday 4PM UTC).
While the auction takes place, you cannot withdraw from the vault until the auction has been processed.
After the withdrawal lock is cleared, you can again withdraw funds, but you will take on exposure to any short positions assumed by the vault during the auction.
If a short position is withdrawn from the vault, the collateral in the position will enter the Premia Options pool free liquidity queue post-option expiration. Therefore, the collateral may be used to underwrite options. We recommend withdrawing from the Premia Option pool to prevent further option underwriting.