> For the complete documentation index, see [llms.txt](https://ipusd.gitbook.io/ipusd-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://ipusd.gitbook.io/ipusd-docs/user-guide/subscribing-to-the-ip-vault.md). # Subscribing to the IP Vault {% hint style="info" %} #### Before you deposit * Minimum deposit: 100 ipUSD. * Deposits are processed in Rounds, in the order they arrive. Until your Round settles, your deposit stays as ipUSD. * Standard Withdrawals may take around 3–6 months in low-liquidity scenarios, although they may complete sooner when sufficient liquidity is available. * At launch, the first two IP Vault Rounds have a combined $600K cap. Once the cap is reached, subscriptions will close. {% endhint %} Subscribing is the second step in the IP Vault flow. Submitting a subscription does not immediately buy or mint IP Vault shares. Your ipUSD first joins the contract-enforced FIFO queue. When your position is covered by available Settlement Capacity, the subscription can settle at the applicable NAV and the resulting IP Vault shares become available to claim. While a queued subscription remains unlocked, it can be cancelled after the ten-minute cancellation delay with no protocol cancellation fee.
### Submit a subscription On the IP Vault page, enter the amount of ipUSD to subscribe. The current Soneium mainnet configuration requires at least 100 ipUSD per subscription. Before submitting, the interface shows Remaining Settlement Capacity and cancellation availability. The amount currently queued ahead of the user and the Round’s total capacity are available through the capacity tooltip. Remaining Settlement Capacity may be zero. Users can still subscribe and join the FIFO queue (as long as the launch cap has not been reached). Before the first subscription, the wallet will normally ask the user to approve the PreDeposit contract to use ipUSD. #### Referral code Users may optionally add a referral code before submitting the subscription. Referral codes are used for referral attribution only. They do not affect fees, returns, Settlement Capacity, eligibility, or queue position. A referral code is not required to subscribe. ### Waiting for Settlement Once submitted, the ipUSD enters the subscription queue. IP Vault shares are not issued immediately when the subscription is submitted or when a Round opens. Normal subscriptions are settled during `closeRound` according to Settlement Capacity and the contract-enforced FIFO queue. A subscription submitted before the current Round’s cutoff may be eligible for that Round. A subscription submitted after the cutoff, or after the eligible queue boundary has been frozen, waits for a later Round. Remaining Settlement Capacity is not a guaranteed allocation for an individual user. If the available capacity does not reach a user’s position, the subscription remains queued without requiring another submission. Queued ipUSD may also be matched against an Instant Withdrawal. When this happens, the matched portion can become claimable before the normal Round Settlement. #### Partial Settlement A subscription can be partially settled when it reaches the remaining Settlement Capacity boundary. For example, if 600 ipUSD of Capacity remains when a 1,000 ipUSD subscription reaches the front of the queue, 600 ipUSD can be settled into IP Vault shares. The remaining 400 ipUSD stays in the queue through a linked record and keeps its position. The user does not need to submit the remaining amount again. ### Claiming available assets After Settlement, the allocated IP Vault shares become available to claim. The number of shares is fixed at Settlement. Waiting to claim does not recalculate the shares at a later NAV. A subscription may produce multiple claimable records after partial Settlements or repeated Instant Withdrawal matches. The interface groups available claims into one Claim flow. When 50 or fewer records are available, the interface displays Claim all. If more than 50 records are available, each batch processes up to 50 records and the remaining records can be claimed in another transaction. The shared Claim flow can include IP Vault shares from completed subscriptions and ipUSD from completed Standard Withdrawals. Depending on the claim types, the wallet may request more than one underlying transaction. Batch claiming reduces repetitive actions. It does not change the user’s entitlement, Settlement result, or FIFO position. | Interface status | Meaning | Available action | | ----------------- | ----------------------------------------------------------------------------- | ------------------------------------------------------------- | | Queued | The ipUSD is waiting for Settlement or an Instant Withdrawal match | Wait or cancel once eligible | | Partially settled | Part of the subscription has received shares while the remainder stays queued | Claim the available shares and keep waiting for the remainder | | Ready to claim | IP Vault shares have been allocated | Claim | | Claimed | The shares have been transferred to the wallet | Hold or initiate a withdrawal | | Cancelled | The unlocked portion has been cancelled | Review the ipUSD returned to the wallet | ### Cancelling a queued subscription Ten minutes after submission, a user may cancel any portion of a subscription that remains unlocked. The cancelled ipUSD is returned directly to the wallet. A portion that has entered Settlement, been matched against an Instant Withdrawal, or been converted into shares can no longer be cancelled. Unlocked subscriptions remain cancellable even if the relevant module is paused.