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Swivel v4.0.0
Swivel v4.0.0
  • Litepaper
    • Principal Tokens (PTs)
      • Exiting/Selling PTs
      • Secondary AMM's
    • Yield Tokens (YTs)
      • Exiting/Selling YTs
    • AMM vs. Orderbook
  • Swivel Safety Module (SSM)
    • Staking
    • Withdrawing
  • Swivel Exchange
    • Exchange Functions
      • Simple Fixed Yield Lending
      • Professional Fixed-Yield Lending
      • Purchasing YTs
      • Selling PTs
      • Selling YTs
      • Splitting/Combining Tokens
      • Redeeming Tokens/Interest
    • Maturity
    • Liquidity Incentives
    • Minimums, Rate Limits & Fees
    • Retroactive Distribution
    • How to Claim SWIV Tokens
  • Developers
    • Exchange API
      • GET
        • Get Markets
        • Orderbook
        • Get Order
        • OHCLV (Candles)
        • Get Effective Price (Preview Market Order)
        • Get Order History
        • Get Last Trade Info
      • POST
        • Order
    • Swivel.js
      • API
        • Swivel
        • MarketPlace
        • VaultTracker
    • Swivel.py
      • swivel
        • swivel.abstracts
          • swivel.abstracts.deployed
          • swivel.abstracts.market_place
          • swivel.abstracts.swivel
          • swivel.abstracts.vault_tracker
        • swivel.contracts
          • swivel.contracts.market_place
          • swivel.contracts.swivel
          • swivel.contracts.vault_tracker
        • swivel.vendors
          • swivel.vendors.signer
          • swivel.vendors.w3
    • Scrivel (Python Examples)
    • Contracts Overview
      • Contracts
        • Swivel
        • MarketPlace
        • VaultTracker
        • Creator
    • Ubiquitous Language V4
      • Shared Language
      • UI Language
      • Technical Language
      • Compound Language
      • Finance Terms
  • Community & Media
  • Incentives
  • Other Resources
    • Institutions
      • Rate Profile Optimization
        • Instruments and Participants
        • Market Opportunities and Pricing
        • Counterparty Risk Management
        • Benefits and drawbacks of standardization
        • User Needs
          • Corporate Treasury and Funding
          • Institutional Investors and Asset Managers
          • Speculators and Proprietary Trading Functions
          • Brokers and Market Makers
          • Liquidity Management, Funding and Resource Management
          • Risk Management and Insurance
          • Smaller Institutions and Individuals
      • Swivel for Enterprise
        • Overview
        • How Swivel works
        • Flexible Order Book
        • Future Developments
      • Delegated Credit
        • Challenges of Delegated Credit
          • Credit Pools
          • Intermediating Trust in Credit Delegation
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On this page
  • Before Maturity (-4 days)
  • After Maturity
  • Archived Markets
  1. Swivel Exchange

Maturity

A description of what happens to markets once they are close to maturity, and after they mature.

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Last updated 1 year ago

Before Maturity (-4 days)

Once a market is close to maturity, rates tend to be extremely volatile, and the general exchange UX surrounding trades degrades for both lenders and active rate traders.

In order to ensure our users orders can only place orders that execute as expected, we ensure all orders expire 4 days before maturity. At that point all markets are halted, and a countdown until maturity will begin.

This means that no more trades can be made in that market, and that users will need to wait to redeem their positions at maturity.

After Maturity

As is implied by the name, once a market hits its maturity, it can be considered "Matured".

Once a market has matured, users can redeem their PTs 1:1 for their underlying deposit (e.g. 1 zcUSDC = 1 USDC).

Redeeming PTs:

  1. Navigate to your page

  2. Select "Matured" to view the recently matured markets

  3. Assuming you have PTs to redeem, click "redeem".

  4. Confirm the transaction and receive a 1:1 amount of tokens !

Archived Markets

After a market has matured for a significant amount of time (2+ weeks), it may be "archived".

An "archived" market is no different than a "matured" market, and users can still redeem balances in an archived market.

We separate out these markets in order to ensure users can easily identify which markets may be most relevant regardless of our exchange's scale.

Positions