Cancellation and refunds
Cancellation distributes the vault's frozen USDG pool by pre-tokenized stock balance. It is not a reversal of each original purchase.
Who can cancel
Only the market owner can cancel, and only during Funding. Cancellation requires a nonzero pre-tokenized stock supply and a nonzero USDG balance. It closes purchases, freezes ordinary pre-tokenized stock transfers and starts Refunding.
A delayed listing does not cancel the market. Holders can sell during Funding without waiting for cancellation. Once Claiming or Refunding begins, the market cannot return to Funding.
The refund ratio
The contract snapshots its entire USDG balance and outstanding pre-tokenized stock supply at cancellation. The current pre-tokenized stock holder can claim a proportional amount, even if someone else originally bought the pre-tokenized stocks.
USDG refund ≈ holder pre-tokenized stocks ÷ frozen supply × frozen USDG pool
Why your refund can differ from your deposit
A first buyer deposits 100 USDG and receives one receipt. A second deposits 200 USDG and receives two. If an extra 40 USDG is transferred directly to the vault before cancellation, the frozen pool is 340 USDG. The holders receive about 113.333333 and 226.666667 USDG.
These are one-third and two-thirds shares of the actual pool. Without the extra transfer, the shares would return 100 and 200 USDG. Cumulative claim accounting allocates rounding residue.
Collect a refund
Open Claim, select the cancelled market and connect the wallet holding the pre-tokenized stocks. Confirm that the phase is Refunding and the payout asset is USDG, then submit the claim. Your entire pre-tokenized stock balance is burned in exchange for its allocation.
Do not send extra funds directly to a vault after a distribution starts. The payout pool is already frozen; later token transfers do not increase the claim ratio and may become inaccessible.