# Settlement windows and cooldowns

This page explains why withdrawals can be queued, what settlement windows mean, and what a cooldown protects against.

### Why settlement windows exist

If strategies hold open positions, immediate redemptions can force partial unwinds and create unfair outcomes for remaining depositors.

Settlement windows allow the vault to:

1. Close positions in an orderly way
2. Finalize NAV for fair redemptions
3. Process queued redemptions consistently

### How it works in practice

1. You submit a redemption request anytime
2. Requests queue until the next settlement window
3. The vault closes positions and finalizes NAV
4. A cooldown may apply, then you claim the redeemed USDC

### Cooldowns

A cooldown period, typically 24 to 48 hours, can help protect against:

1. Short term manipulation around NAV updates
2. Edge case timing attacks
3. Operational race conditions during settlement