> ## Documentation Index
> Fetch the complete documentation index at: https://docs.solayer.org/llms.txt
> Use this file to discover all available pages before exploring further.

# Process

## **Subscription Process:**

<img src="https://mintcdn.com/solayerlabsinc/ehaIHrCi02AamVTV/images/diagrams/subscription_susd_B.png?fit=max&auto=format&n=ehaIHrCi02AamVTV&q=85&s=608fd2ced3b3b44dc739f5dab4974fce" alt="sUSD Subscription Process" width="3000" height="1640" data-path="images/diagrams/subscription_susd_B.png" />

<Steps>
  <Step title="User Locks USDC:">
    The user locks USDC to initiate a transaction. This action creates a quote that specifies the amount of USDC, the expiry time, and the commission rate for the trade.
  </Step>

  <Step title="Fulfillment by Qualified Liquidity Provider (Buy Order):">
    The qualified liquidity provider fulfills the buy order by transferring the USDC out and sending back a wrapped T-Bill (tokenized representation of a T-Bill) as proof.
  </Step>

  <Step title="Forwarding Wrapped T-Bill:">
    The decentralized T-Bill RFQ (Request for Quote) protocol forwards it to the sUSD minting program, locking it there in the process.
  </Step>

  <Step title="Minting sUSD:">
    The Solayer sUSD Program mints sUSD based on the value of the wrapped T-Bill, maintaining a 1:1 price peg with USDC.
  </Step>

  <Step title="Delegate sUSD to Secure Exogenous AVS (Coming Soon):">
    The user can delegate sUSD to secure our exogenous AVSs (exoAVSs) when it goes live.
  </Step>
</Steps>

## **Redemption Process:**

<img src="https://mintcdn.com/solayerlabsinc/ehaIHrCi02AamVTV/images/diagrams/redemption_susd_b.png?fit=max&auto=format&n=ehaIHrCi02AamVTV&q=85&s=969f5b72cb783de9464c7bd2b4a05937" alt="sUSD Redemption Process" width="3000" height="1640" data-path="images/diagrams/redemption_susd_b.png" />

<Steps>
  <Step title="User Sends Back sUSD to Kickoff Withdrawal:">
    The user sends back sUSD to the Solayer sUSD Program to initiate the withdrawal process. This action signals the start of the withdrawal procedure.
  </Step>

  <Step title="Protocol Calculates and Sends Wrapped T-Bill:">
    The Solayer sUSD Program calculates the corresponding amount of wrapped T-Bill that needs to be redeemed based on the user's withdrawal request. The wrapped T-Bill is then forwarded to the Decentralized T-Bill RFQ Protocol.
  </Step>

  <Step title="Qualified Liquidity Provider Fulfills the Withdrawal Order:">
    The Qualified Liquidity Provider receives the wrapped T-Bill and fulfills the withdrawal order. This involves transferring out the wrapped T-Bill and sending the equivalent amount of USDC back to the protocol.
  </Step>

  <Step title="USDC Returned to the User:">
    After the liquidity provider fulfills the withdrawal order, the decentralized protocol returns the corresponding amount of USDC to the user, completing the withdrawal process.
  </Step>
</Steps>