Winddown
Winddown is the controlled path for stopping new product activity and returning remaining assets according to vault rules. It is an operating state, not a promise of full capital recovery.
What Can Trigger Winddown
| Trigger category | Example condition |
|---|---|
| Product retirement | The product is no longer intended to accept new primary flow. |
| Operational issue | Required infrastructure, reporting, or reconciliation cannot support continued activity. |
| Market condition | Underlying markets no longer support the product mandate or capacity model. |
| Emergency control | A critical issue requires new activity to stop while remaining assets are handled. |
Expected Effects
- New creation activity may stop.
- New buy execution may stop.
- Sell or liquidation intents may continue if needed to raise pUSD.
- AP redemptions may remain available only if the product state supports them.
- Direct vault exits may become available according to vault rules after final close.
Remaining Risks
Winddown does not guarantee full recovery of capital. Recovery depends on remaining pUSD, prediction-market position value, settlement conditions, outstanding liabilities, and product-specific costs or constraints.