Transferring tokens to the smart contract address will not redeem them. You need to complete the specific requestWithdrawal function.
Using the decentralized application (dApp) on our investor platform
To redeem tokens, a dApp is hosted on the Invictus website. This dApp requires that you redeem via MetaMask or the Invictus Wallet:
- Navigate to the 'redeem' section under 'Bitcoin Alpha'
- Select the wallet to redeem from. This will either be your Invictus Wallet or a MetaMask account. If your IBA tokens are in a different address, you must transfer them to one of these addresses to use the redemption dApp
- Make sure your Invictus Wallet/MetaMask account has a small amount of ETH in it to cover network transaction fees. The amount of ETH required varies; you can check the ETH gas station or Etherscan's gas tracker
- Confirm the amount of tokens to redeem. You will receive an estimate of the amount of USDT you will receive in return. We have a forward-pricing policy
- If using your Invictus Wallet: enter your wallet passcode and submit the transaction
- If using MetaMask: submit the transaction
- Requests received before 00:00 UTC will be processed the next day upon the price update. Price updates occur at 11:00 UTC. If the request is received after midnight it will be processed in accordance with the next price update
It is also possible to redeem tokens from a hardware wallet, in concert with MetaMask, and thus you can use the website dApp. Please see the following: