RedemptionContract

📋 Contract Overview

Property	Value
📁 File	src/RedemptionContract.sol
🔧 Type	Upgradeable UUPS Proxy
⚙️ Solidity	0.8.33
📜 License	MIT

🎯 Purpose: Manages the redemption of EQTBLT tokens for real-world value—where renters' accumulated equity becomes tangible, converting EQTBLT into down payment assistance, ownership stakes, or cash.

---

🎯 Options

🎯 Redemption Options

Option	Description	Discount	Fee	Vesting
🏠 Down Payment	Credit toward home purchase	0%	0%	6 months
💵 Cash Out	Cash payment	5%	2%	24 months
🔄 Property Transfer	Apply to another property	0%	1%	6 months
📊 Ownership Stake	Convert to property share	0%	0%	12 months

Down payment redemption is the most advantageous—no discount, no fee!

⚙️ Specifications

🔐 Roles

---

📊 Redemption Limits

Different redemption types have different limits.

Type	Minimum	Maximum
🏠 Down Payment	1,000 EQTBLT	Unlimited
💵 Cash Out	500 EQTBLT	$50,000
🔄 Property Transfer	1,000 EQTBLT	Unlimited
📊 Ownership Stake	10,000 EQTBLT	Unlimited

---

🔧 Functions

📝 Request

📝 Redemption Requests

Request Redemption

function requestRedemption(
    RedemptionType redemptionType,
    uint256 eqtbltAmount,
    address destination,
    bytes32 referenceId
) external nonReentrant returns (uint256 requestId)

Requirements:

• Redemption type is active

• Amount within min/max range

• Member meets vesting requirements

• Within daily limits

Request Down Payment

function requestDownPayment(
    uint256 eqtbltAmount,
    bytes32 propertyId,
    bytes32 escrowAccount
) external nonReentrant returns (uint256 requestId)

Specialized function for down payment redemptions.

⚡ Process

💰 Calculation

👁️ View

---

🏠 Down Payment Flow

Example: Member accumulated 50,000 EQTBLT over 3 years of renting.

1. Member accumulates 50,000 EQTBLT over 3 years
                    ↓
2. Member finds home to purchase (Built By or external)
                    ↓
3. Member requests down payment redemption
                    ↓
4. Contract verifies:
   - 50,000 EQTBLT available ✅
   - 6+ months vesting met ✅
   - Property/escrow verified ✅
                    ↓
5. Request approved
                    ↓
6. Processor executes:
   - Burns 50,000 EQTBLT
   - Calculates value: $50,000 (1:1 at $1/EQTBLT)
   - Transfers to escrow account
                    ↓
7. Member uses as down payment 🏠

---

💵 Cash Out Flow

Cash out has a 5% discount and 2% fee—down payment is more advantageous.

1. Member has 10,000 EQTBLT
                    ↓
2. Member requests cash out
                    ↓
3. Contract verifies:
   - 10,000 EQTBLT available ✅
   - 24+ months vesting met ✅
   - Within daily limits ✅
                    ↓
4. Value calculated:
   - Gross: $10,000
   - Discount (5%): -$500
   - Fee (2%): -$200
   - Net: $9,300
                    ↓
5. Request processed:
   - Burns 10,000 EQTBLT
   - Transfers $9,300 USDC to member

---

📜 Events & Errors

📢 Events

event RedemptionRequested(
    uint256 indexed requestId,
    address indexed member,
    RedemptionType redemptionType,
    uint256 eqtbltAmount
);
event RedemptionProcessed(
    uint256 indexed requestId,
    address indexed member,
    uint256 valueTransferred
);
event RedemptionCancelled(
    uint256 indexed requestId,
    string reason
);
event RedemptionOptionUpdated(
    RedemptionType indexed redemptionType,
    bool active
);
event RedemptionRateUpdated(
    uint256 oldRate,
    uint256 newRate
);

⛔ Errors

---

🔒 Security Features

📊 Daily Limits

📊 Daily Limits

Prevents rapid mass redemptions:

function _checkDailyLimit(uint256 value) internal {
    uint256 today = block.timestamp / 1 days;
    if (today > lastDailyReset / 1 days) {
        dailyRedeemed = 0;
        lastDailyReset = block.timestamp;
    }

    require(
        dailyRedeemed + value <= maxDailyRedemption,
        "Daily limit exceeded"
    );
    dailyRedeemed += value;
}

⏱️ Vesting

🏦 Treasury

---

🔗 Contract Interactions

Contract	Interaction
💎 EQTBLTToken	Burns redeemed tokens
🏦 Treasury	Source of redemption funds
🎫 DAOMembershipNFT	Verifies membership
🏠 RentalAndRebate	Verifies equity source

---

💻 Integration Examples

Requesting Redemption

// Check eligibility first
const { eligible, reason } = await redemption.checkEligibility(
    memberAddress,
    0, // DownPayment
    parseEther("50000")
);

if (eligible) {
    await redemption.requestRedemption(
        0, // DownPayment
        parseEther("50000"),
        escrowAddress,
        ethers.utils.formatBytes32String("PROP-2024-0042")
    );
}

Checking Value

const { grossValue, discount, fee, netValue } =
    await redemption.calculateRedemptionValue(
        1, // CashOut
        parseEther("10000")
    );
console.log(`Net redemption value: $${formatUnits(netValue, 6)}`);

Checking Vesting

const { totalEqtblt, vestedEqtblt, vestingCompleteDate } =
    await redemption.getVestingStatus(memberAddress);
console.log(`Vested: ${formatEther(vestedEqtblt)} / ${formatEther(totalEqtblt)}`);

---

🔗 Related Pages

EQTBLTTokenRentalAndRebate🏠OverviewRedemption Options