Cancellation and refunds
Cancellation distributes the vault's frozen USDG pool by receipt balance. It is not a reversal of each original purchase.
Who can cancel
Only the market owner can cancel, and only during Funding. Cancellation requires a nonzero receipt supply and a nonzero USDG balance. It closes purchases, freezes ordinary receipt transfers and starts Refunding.
There is no automatic funding deadline or holder-triggered refund. A delayed listing does not cancel the market. Once Claiming or Refunding begins, the market cannot return to Funding.
The refund ratio
The contract snapshots its entire USDG balance and outstanding receipt supply at cancellation. The current receipt holder can claim a proportional amount, even if someone else originally bought the receipts.
USDG refund ≈ holder receipts ÷ frozen supply × frozen USDG pool
Why your refund can differ from your deposit
A first buyer deposits 100 USDG at a $100 price and receives one receipt. A second deposits 240 USDG at $120 and receives two. If the 340 USDG vault is cancelled, the one-receipt holder gets about 113.333333 USDG and the two-receipt holder about 226.666667 USDG.
These are one-third and two-thirds shares of the pool, not 100 and 240 USDG purchase reversals. Rounding is allocated through the same cumulative claim accounting used after settlement.
Collect a refund
Open Claim, select the cancelled market and connect the receipt-holding wallet. Confirm that the phase is Refunding and the payout asset is USDG, then submit the claim. Your entire receipt balance is burned in exchange for its allocation.
Do not send extra funds directly to a vault after a distribution starts. The payout pool is already frozen; later token transfers do not increase the claim ratio and may become inaccessible.