Kelp (@KelpDAO): Retiring sbUSD

Retiring sbUSD The Stable Gain vault (sbUSD) is being sunset and has stopped accepting new deposits. This is a planned closure - a commercial decision about where we focus resources - following a decline in the vault’s TVL. What’s changing • The redemption rate is frozen as of 27th July,2026. • The withdrawal frontend remains available for 35 days, through 31st Aug, 2026 • After 31st Aug, 2026, withdrawals remain available directly through the vault’s smart contract. Withdrawals → Already withdrawn: Nothing changes. → Not yet withdrawn: Withdraw through the existing frontend before 31st Aug, 2026; after it retires, through the vault contract: 0x8ECC0B419dfe3AE197BC96f2a03636b5E1BE91db Your assets remain redeemable on-contract at the frozen rate throughout. To initiate the asset redemption process, please follow these steps: Step 1: Approve Token Spending: Authorize the Vault contract to spend your tokens. a. Contract Address: Vault Contract b. Connect wallet that holds sbUSD token c. Spender: 0x8ecc0b419dfe3ae197bc96f2a03636b5e1be91db d. Amount: Specify the token amount, ensuring you include 6 decimal places. Example: If you want to withdraw 100 sbUSD, you should approve 100*10^6 or 100000000 Step 2: Request Asset Redemption: Execute the redemption function. a. Contract Function: requestRedeemOfAsset b. Asset Address: USDT (0xdAC17F958D2ee523a2206206994597C13D831ec7) or USDC (0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48) c. Shares: Enter the number of shares to redeem (including decimals), same as in the previous step. d. Controller & Owner: Input your wallet address for both fields. Note: Since this is an async flow, submitting requestRedeemOfAsset only creates the request; the vault operator must fulfill it before you can claim funds. Step3:Check Request Fulfillment: Confirm that your redemption is available to claim. a. Contract Function: getClaimableRedeemForAsset b. Asset Address: Use the same USDC or USDT address selected in Step 2. c. Controller: Input your wallet address. d. Claimable Amount: Continue only once the returned assets and/or shares amount is greater than zero. Step 4:Claim Redeemed Assets: Execute the final redemption function. a. Contract Function: redeemAsset b. Asset Address: Use the same USDC or USDT address selected in Step 2. c. Shares: Enter the shares amount returned by getClaimableRedeemForAsset. d. Receiver & Controller: Input your wallet address for both fields. e. Note: No further token approval is required for Step 4. Please note that since the fulfilment is performed by the vault operator, a submitted request is not immediately claimable.