Redeem a basket

Redeeming burns basket tokens and gives you USDC for your share of every token the basket holds.

How it works

Switch the panel on a basket’s page to Redeem and enter how many basket tokens to burn. The app estimates the USDC you’ll receive from NAV, minus the redeem fee.

Approve the transactions in order:

1. Open. Burns your basket tokens and sets aside your share of each component in the vaults.
2. Swaps. Sells your share of the components for USDC, up to three tokens per transaction. Each swap’s share of the fee comes out of its proceeds. The USDC goes straight to your wallet.

The transaction that sells the last component also completes the redeem. There’s no separate final step.

1. Tx 1Open
2. Tx 2Sell SOL, JTO, JUP
3. Tx 3Sell PYTH, RAY, ORCA, done

Your wallet

SOLB100.000

USDC0.0073.9299.90

Jupiter swaps

Basket vaults

SOL$39.96

JTO$17.98

JUP$15.98

PYTH$13.99

RAY$6.99

ORCA$5.00

• Open. Your 100 SOLB are burned, and your share of every vault is set aside for you.
• Sell SOL, JTO and JUP. Jupiter sells your share of each. The USDC, less the 0.1% fee, goes straight to your wallet.
• Sell PYTH, RAY and ORCA. The last sale also completes the redeem. There's no separate final step.

Example: redeeming 100 SOLB at a NAV of $1.00, leaving out swap costs.

Price protection

Each swap allows up to 3% slippage. The whole redeem must return at least the estimate minus 6%. If a route would pay out less than that, the transaction fails instead of selling at a bad price. Redeems use wider limits than mints because they sell into whatever liquidity each token has at that moment.

Redeeming a large amount of a basket with thinly traded tokens moves those tokens’ prices. Splitting a big redeem into smaller ones over time usually gets a better result.

Interrupted?

If you stop partway, the components that haven’t been sold yet stay set aside for you. If no swap ran at all, you can cancel and get your basket tokens back. After 20 minutes you can recover the unsold components. See Finish or recover a mint or redeem.

Good to know

• USDC only. The app always redeems to USDC. The program also supports in-kind redeems, where you receive the component tokens themselves, but the app interface doesn’t expose this feature.
• Rebalances pause redeems. While a fixed-weight basket is rebalancing, new redeems wait for it to finish. Your basket tokens stay in your wallet and remain transferable.
• Nobody can pause redeems. Not Basket, and not the basket’s authority. Apart from the wait during a rebalance, you can always redeem. See Security and trust.