Withdraw

Burn your ksCORE share tokens to receive tokens proportional to the portfolio's current NAV. No admin approval, no lock-up period.

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Supported Tokens

Token	Instruction	How it routes
USDC	withdraw	Direct — no swap
SOL	withdraw_with_swap	USDC → Jupiter swap → SOL
JupSOL	withdraw_with_swap	USDC → Jupiter swap → JupSOL
jitoSOL	withdraw_with_swap	USDC → Jupiter swap → jitoSOL
hSOL	withdraw_with_swap	USDC → Jupiter swap → hSOL
mSOL	withdraw_with_swap	USDC → Jupiter swap → mSOL
bSOL	withdraw_with_swap	USDC → Jupiter swap → bSOL

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Quick Start

# Withdraw full position as USDC
npx tsx scripts/withdraw.ts balanced

# Withdraw a specific amount as USDC
npx tsx scripts/withdraw.ts balanced 2500

# Withdraw as SOL or any supported LST
npx tsx scripts/withdraw_with_swap.ts balanced --output SOL
npx tsx scripts/withdraw_with_swap.ts balanced --output JupSOL

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How a Withdrawal Routes

USDC redeemed = ksCORE burned × (Core NAV / total ksCORE supply)

Shares are valued at the moment ksCORE is burned — price is locked at call time. Core redeems proportionally from each fund into a USDC staging account. For withdraw_with_swap, the USDC is then swapped to the desired output token via Jupiter.

Internal burn chain (all atomic in one transaction):

You burn ksCORE
  → Core burns ksALPHA  (from Core's ATA) → Alpha  sends USDC → Core
  → Core burns ksNEUTRAL (from Core's ATA) → Neutral sends USDC → Core
  → Core burns ksDEFENSE (from Core's ATA) → Defense sends USDC → Core
  → Core sends total USDC to your wallet

You only hold and burn ksCORE. The ksALPHA / ksNEUTRAL / ksDEFENSE shares are held internally by Core and burned on your behalf — you never interact with them directly.

Settlement by fund:

Fund	State	Settlement
Alpha	Idle USDC	Immediate
Alpha	Deployed to Marginfi	Immediate — auto-recalled
Neutral	Idle USDC	Immediate
Neutral	Jupiter Perps position open	Queued ≤5 min — keeper unwinds
Defense	Idle JupSOL / USDC	Immediate
Defense	Crisis deployment	Queued — keeper completes

Most withdrawals are immediate. The queue path only triggers when Neutral has an active Jupiter Perps position and the withdrawal share exceeds idle USDC.

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Code Example

// USDC withdraw
await coreProgram.methods
  .withdraw(new BN(PORTFOLIO_ID), sharesToBurn)
  .accounts({ portfolioState, coreShareMint, userCoreShares, userUsdc, /* ... */ })
  .rpc();

// Withdraw as SOL, JupSOL, or other LST
const [coreAuthority] = PublicKey.findProgramAddressSync(
  [Buffer.from("core_authority"), portfolioIdBuf], CORE_PROGRAM_ID
);
const { swapInstruction } = await jupiterApi.swapInstructionsPost({
  swapRequest: { quoteResponse: quote, userPublicKey: coreAuthority.toString() },
});

await coreProgram.methods
  .withdrawWithSwap(
    new BN(PORTFOLIO_ID),
    sharesToBurn,
    new BN(minTokenOut),
    Buffer.from(swapInstruction.data, "base64"),
  )
  .accounts({ portfolioState, coreShareMint, userCoreShares, outputMint, userOutputToken, /* ... */ })
  .remainingAccounts(swapInstruction.accounts)
  .rpc();

See scripts/withdraw.ts and scripts/withdraw_with_swap.ts for full account derivation.

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Errors

Error	Cause
PortfolioPaused	Portfolio is paused
InsufficientShares	Burn amount exceeds ksCORE balance
ZeroAmount	Amount is zero
InsufficientLiquidity	Fund cannot fulfill withdrawal immediately — will be queued
SwapFailed	Jupiter swap failed — check route
SlippageExceeded	Output below min_token_out — widen slippage or retry

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