1. How do I withdraw my tokens from Vauld platform?
You can withdraw the token recoveries from the Vauld Platform (app / website), subject to KYC completion. Please follow the steps below:
Please login to the Vauld platform and visit the “Wallet” section. If you are using our app, please ensure that it's updated with the latest version.
The tokens that can be withdrawn subject to KYC completion can be seen in column “Withdrawable Token Balance”. Click on the respective token.
Enter the Receiver’s address and click on “Generate OTP”
Enter the 4 digit OTP sent to your registered email Id and click on “Send” to submit your withdrawal request.
Once the request is submitted, it will be internally reviewed and processed.
All the withdrawal requests are expected to be cleared between 30 to 45 days from the day of withdrawal initiation.
Please find sample screenshots of Vauld platform for your reference:
2. I am not able to see token balance under the column “Withdrawable Token Balance”. Why?
If you are a VRT creditor with all your claims extinguished in the initial RDA - Please check if you have withdrawn your recoveries already. If yes, there won’t be any withdrawals applicable, as the claims are written off.
If you are a PRT creditor (or) a VRT creditor who didn’t exit through initial RDA - Please check if you have withdrawn your recoveries already. If yes, there won’t be any other withdrawals applicable at this stage. Next distribution will happen depending on the illiquid assets recoveries.
If you still have a concern, please contact [email protected] for further assistance.
3. Is there any fee applicable for withdrawals?
While Vauld does not charge any withdrawal fees, creditors looking to withdraw tokens from the Vauld platform will be responsible for any applicable network or gas fees in line with the terms of the Scheme.
4. I am getting an error as “Unable to withdraw to Internal Vauld wallet address”. Why?
Withdrawals can be done only to addresses that are outside of Vauld.
5. Can I withdraw a partial amount?
Partial withdrawal is restricted at a token level. For the respective token, Creditors are allowed to withdraw full of their recoveries.
6. Why are the withdrawal requests not instantly processed?
It was considered to increase human resources to increase the speed of reviewing and approving withdrawal requests, but in consultation with the new board members, it was decided against in order to minimize costs and instead to maximize returns directly to creditors.
The manual review process is critical to complete first on any withdrawal request received. This entails:
checking the individual creditors' claim amount in our system
double checking the destination wallet address provided for each token withdrawal
checking if the network fee applied is nominal, before submitting the transaction to the blockchain of the respective token
Along with the backlog of requests, many creditors have also reached out to have their request cancelled or changed due to the wrong network, wrong wallet address, or similar. Hence, before processing a withdrawal request, any email requests or TG messages from the respective creditor has to be checked and accommodated.
Cryptocurrency transactions are irreversible, so it is critical that each and every step of this process is followed for each withdrawal request. And, along with clearing the withdrawal requests, Vauld care team is involved in handling other activities as well, such as responding to emails, clearing KYCs, limited moderation of TG etc.,
Considering all these aspects, withdrawal requests received are expected to be cleared between 30 to 45 days from the day of withdrawal initiation.
Please contact [email protected] if you have any further queries.
7. What will happen to my withdrawable balance if I don’t withdraw?
If you don’t opt for withdrawal, the balance will be left in your Vauld account. As per clause 9.7 of the Scheme, Creditors who are entitled to but fail to effect withdrawal of their entitlements from the distributions under the Scheme prior to the Final Distribution would be taken to have waived their rights and interests to such entitlements.
The unclaimed / unwithdrawn distributions will be swept into the respective pools of assets to be distributed under the Final Distribution in respect of the Variable Recoveries Track or Pro-Rated Track to creditors who have opted in to the Final Distribution.