> For the complete documentation index, see [llms.txt](https://piggybank.gitbook.io/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://piggybank.gitbook.io/docs/how-it-works/withdraw.md).

# Withdraw

Withdrawals on PiggyBank are batched and processed over an epoch as perpetual positions are unwound through low-impact execution. Withdrawals are a two step process: users first create a redemption request, then once processed (48h to 96h), they can claim the underlying tokens redeemed.

## Request redemption

Users can start the redeem process directly from the decentralised application frontend [redeem page](https://app.piggybank.fi/withdrawals).

1. Select the pbTOKEN you want to redeem
2. Enter the amount
3. Check the date when your withdrawal will be claimable
4. Click "Redeem" and confirm the transaction in your wallet
5. Once the transaction has been processed, head to [Portfolio page](https://app.piggybank.fi/portfolio). In *Transaction History* section, you will see your redemption request.

Withdrawals are non-cancelable.

Exchange rate is the same as minting exchange rate, no fee is charged for withdrawing.

*e.g. Exchange rate on February 24th 2026: 1 pbUSDC = 1.06 USDC*

{% embed url="<https://youtu.be/kUVYeQqTU8k>" %}

## Claim

1. After waiting for your redemption to be processed, head to [Portfolio page](https://app.piggybank.fi/portfolio), *Transaction History* section, where you will fing your redemption request
2. Click "Claim" and confirm the transaction in your wallet
3. Once the transaction has been processed, underlying token will be available in your wallet

{% embed url="<https://youtu.be/1RWB8MD6h5M>" %}


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