NEXUS \- Network Exchange & Unified Settlement

AID Liquidity

As noted in section YIELD, AID can be redeemed at any time by whitelisted parties.

For non-whitelisted parties, AID is easily exchanged to USDC, USDT and other stablecoin assets on leading DEXes.

sAID Liquidity

AID can be unstaked via the GAIB AID staking portal at any time at the sAID Withdrawal NAV. sAID unstaking requests will be subject to the withdrawal mechanism.

It should be noted that users also have the option of trading their sAID tokens on the market, at the prevailing market price rather than withdrawing. This may be preferred by sAID holders seeking instant liquidity. The sAID withdrawal interface offers live information about both options.

sAID Withdrawals

sAID withdrawals are processed using a cyclical withdrawal manager model. Under this model, withdrawal requests are processed monthly (every 30 days), at the sAID Withdrawal NAV, based on available withdrawal liquidity on a pro-rata basis.

To be included in a given monthly Withdrawal Cycle, withdrawal requests must be made within the first 7 days of the monthly Withdrawal Cycle (this 7 day period is known as the Withdrawal Window). In the event there is insufficient liquidity to fully satisfy all withdrawal requests in a given Withdrawal Cycle, any unfulfilled withdrawal requests will be automatically included in the subsequent Withdrawal Window / Withdrawal Cycle until such time as the request is fully satisfied.

$sAID withdrawals are funded from (a) undeployed collateral (cash), (b) maturing GPU and AI infrastructure financing deals during the Withdrawal Cycle, (c) incoming sAID deposits during the Withdrawal Cycle, (d) cash based interest payment received by the pool or (e) liquidation of the 30% treasury / equity buffer.

Submitted but unfulfilled withdrawal requests can be modified or cancelled in the withdrawal manager module of the user dashboard.

1. sAID Withdrawal Process

Withdrawing from sAID occurs in three steps:

1. User submits a request to withdraw during the current withdrawal cycle (call this Cycle 1). Users can modify or cancel their withdrawal request during this stage.
2. User must wait for the following cycle to complete until their request is eligible to be processed. This means that if a user submits a request to withdraw in Cycle 1, they will be eligible to withdraw during Cycle 3, after Cycle 2 has completed.
3. User executes their withdrawal during their eligible withdrawal window

2. Request and locking phase

Request: A lender calls requestRedeem(n) during the current cycle. Following this call, the users $sAID shares are transferred into the Withdrawal Manager, recorded as lockedShares, and assigned an exitCycleId. Each user can have only one active request at a time.

Locking: During the next withdrawal window (first 7 days of a cycle), the system continuously locks enough assets (based on the current withdrawal exchange rate) to satisfy all / maximum requests in that window. Those assets are reserved and cannot be used for new loans.

Withdrawal timing

After a request in a given cycle, the user must wait for at least one full cycle before the withdrawal becomes eligible. For example, with a 30 day cycle, a request in cycle N, the withdrawal will be eligible for withdrawal in cycle N + 2 (i.e. roughly 60 days later).

Withdrawal Window

Eligible users can execute their withdrawal during the 7 day exit window of cycle N + 2.

If they miss that window, they must resubmit a request and wait again (another full cycle + delay)

Partial Withdrawals

By grouping users into cycles, GAIB ensures that users get a prorated distribution of cash in the event of partial liquidity in the system.

If liquidity is insufficient during a withdrawal window:

• Withdrawals are filled pro rata based on the ratio of each user’s withdrawal request relative to total requested withdrawals outstanding
• Partially unfulfilled requests roll over automatically into the next withdrawal window

Request Updates & Cancellations

Users may refresh, modify, or cancel their request—but only before their eligible withdrawal window starts.

Any update triggers a new waiting period of at least one full cycle, so the modified request only becomes eligible for withdrawal after two further cycles.

sAID AMM liquidity

In addition to the native withdrawal queue, the sAID will be tradeable on leading automated market makers (AMMs) on supported networks. This integration is designed to provide holders with an optional, market-based path to immediate liquidity without waiting for the next withdrawal window.

GAIB Protocol Reserve

GAIB’s intention is to develop a Protocol Reserve fund which will be used as a discretionary backstop / liquidity source of last resort. GAIB may utilise funds from the Protocol Reserve, from time to time, to satisfy short-term liquidity mismatches to meet unfunded withdrawals should they arise.