Withdrawal notice

Two notice durations

• Junior is the protection-providing side. A 10-day lock prevents junior from pulling collateral right before a loss event.
• Senior is the protection-buying side. A 5-day lock prevents senior from front-running a still-developing drawdown.

Why a notice exists at all

The notice serves two functions:

1. Preserve protection commitment. Without it, junior could exit the moment something looked off, leaving senior with no backstop. Senior is symmetric on the request-side: a 5-day delay lets the protection mechanism settle losses before senior gets paid.
2. Lock the redemption set. The noticed shares are transferred into the metavault. They cannot be transferred, sold, or refiled to a different recipient during the notice window. This prevents double-claim attacks.

The notice does not lock in a price. Pricing happens at execution time, so changes between filing and execution flow through to the redemption.

Cancel and refile semantics

• Cancel returns the queued shares back to the holder immediately. There is no penalty.
• Refile is just filing again. The new noticed amount stacks with whatever was already pending and the timer is reset.
• Partial execution. When the notice matures, you can redeem any amount up to the noticed total. Any unconsumed noticed shares stay queued under the same notice until cancelled or fully executed.

Junior leverage gate at execution

Junior withdrawals have an extra check at execution time: if redeeming would push senior past 4× the remaining junior, the call is blocked. The notice does not consume in that case; you can retry once equilibrium recovers (more junior arrives, or senior exits).

There is no equivalent gate on the senior side. Senior leaving improves protection coverage, so it's always allowed.