redeem_4626

Documentation for eth_defi.erc_4626.flow.redeem_4626 function.

redeem_4626(vault, owner, amount=None, raw_amount=None, check_enough_token=True, check_max_redeem=True, receiver=None, epsilon=0.005)

Craft a transaction for ERC-4626 vault deposit.

• The resulting payload must be signed by a wallet/vault

• The resulting transaction can be analysed with eth_defi.erc_4626.analysis.analyse_4626_flow_transaction()

• See here for IPOR error codes

Note

You need at least 6_000_000 gas to redeem from IPOR vault.

Key Differences Between Redeem and Withdraw in ERC-4626

Aspect	Redeem	Withdraw
Input	Number of shares to burn	Number of assets to receive
Output	Assets received	Shares burned
User Intent	Burn a specific number of shares	Receive a specific amount of assets
Calculation	Shares → Assets	Assets → Shares

Example:

shares = vault.share_token.fetch_balance_of(depositor, "latest")
assert shares == pytest.approx(Decimal("96.7523176"))

# See how much we get after all this time
estimated_usdc = estimate_4626_redeem(
    vault,
    depositor,
    shares,
)
assert estimated_usdc == pytest.approx(Decimal("99.084206"))

tx_hash = vault.share_token.approve(vault.address, shares).transact({"from": depositor})
assert_transaction_success_with_explanation(web3, tx_hash)

tx_hash = redeem_4626(vault, depositor, shares).transact({"from": depositor})
assert_transaction_success_with_explanation(web3, tx_hash)

# Analyse the ERC-4626 deposit transaction
analysis = analyse_4626_flow_transaction(
    vault=vault,
    tx_hash=tx_hash,
    tx_receipt=tx_receipt,
    direction="redeem",
)
assert isinstance(analysis, TradeSuccess)

assert analysis.path == [vault.share_token.address_lower, base_usdc.address_lower]
assert analysis.amount_in == pytest.approx(9675231765)
assert analysis.amount_out == pytest.approx(100000000)
assert analysis.amount_in_decimals == 8  # IPOR has 8 decimals
assert analysis.price == pytest.approx(Decimal("1.033566972663402121955991264"))

Parameters

• vault (eth_defi.erc_4626.vault.ERC4626Vault) – ERC-4626 vault from where we redeem.

• amount (decimal.Decimal | None) – Share token mount in human readable form.

• owner (eth_typing.evm.HexAddress) –

  The hot wallet/vault storage contract which will receive the tokens.

  Matters in complex vault setups. Like in the case of Lagoon vault, the receiver is the Safe multisig address of the vault.

• epsilon (float | None) – Handle rounding errors in the case of close all.

• raw_amount (int | None) –

Return type

web3.contract.contract.ContractFunction