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 notices are required

• Preserve Junior's protection commitment. Junior provides the first-loss backstop. The longer notice period prevents Junior from withdrawing collateral as soon as a potential loss appears, leaving Senior underprotected.

• Settle losses fairly across Senior. Senior also has a notice period so one Senior holder cannot exit ahead of others while a drawdown is still being assessed. The delay helps ensure losses are reflected evenly across Senior holders before exits complete.

Notice functions

• File a notice: call requestSeniorWithdrawal(shares) or requestJuniorWithdrawal(shares). The shares move into the metavault and the notice timer starts.
• Cancel a notice: call cancelSeniorWithdrawal() or cancelJuniorWithdrawal(). The queued shares return to the holder immediately. There is no penalty.
• Refile after cancelling or fully executing: file a new notice by calling requestSeniorWithdrawal(shares) or requestJuniorWithdrawal(shares) again. Filing while an active notice already exists reverts.
• Partially execute a matured notice: during the execution window, call withdrawSenior(shares, owner, receiver) or withdrawJunior(shares, owner, receiver) for any amount up to the noticed total. Any unexecuted shares stay queued until cancelled, fully executed, or the notice becomes stale.

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.