> For the complete documentation index, see [llms.txt](https://docs.kton.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.kton.io/getting-started/03-unstaking-withdrawal.md).

# How Unstaking Works (Withdrawal)

Unstaking is the reverse of staking: you hand back your KTON and receive Gram. The mechanics are a little different from staking, and the most important thing to understand up front is that **withdrawal is not instant.** When you unstake, you join a settlement queue and get your Gram back after the protocol's current cycle finalizes, which takes roughly 36 hours.

This chapter walks through exactly what happens, what the "bill" receipt is, why you must never transfer or sell it, and the caveats around the so-called instant and emergency-swap paths.

## What happens when you unstake

At a high level:

1. You request a withdrawal for some amount of KTON.
2. Your KTON is **burned** (permanently removed from supply).
3. You receive a **payout-NFT receipt** (a "bill") that records your place in the withdrawal queue.
4. The protocol's settlement cycle runs. When it finalizes (about 36 hours later), the receipt is automatically processed and your Gram is sent to you.
5. The receipt self-destructs once it has paid you. You do not need to do anything to claim.

Because KTON is a rate-appreciating token, the amount of Gram you receive is based on the current exchange rate at settlement. One KTON currently redeems for about 1.035 Gram, and that figure grows over time as rewards accrue. You do not "lose" your accrued yield by waiting in the queue: the rate is applied when the cycle finalizes.

## Step by step, from the user's view

1. Open the app at <https://app.kton.io/> (or the Telegram Mini App) and connect your wallet.
2. Choose **Unstake** and enter how much KTON you want to redeem.
3. Review the estimated Gram you will receive. This is an estimate at the current rate; the exact amount is fixed when the cycle finalizes.
4. Approve the transaction in your wallet. This burns your KTON and issues your payout-NFT receipt.
5. **Wait for the settlement cycle to finalize.** Expect up to roughly 36 hours.
6. When the cycle finalizes, your Gram arrives automatically. The receipt NFT is burned in the same step.

You do not submit a second "claim" transaction. The protocol processes all queued receipts together when the cycle closes, and the payout lands in the wallet that owns the receipt at that moment.

## The payout-NFT "bill" receipt

When you unstake through the normal path, the protocol mints you a small NFT that the contracts call a "bill." Think of it as a numbered ticket: it records how much you are owed and reserves your share of the Gram that will be paid out when the cycle settles.

At the end of the cycle, the protocol processes the whole batch of bills at once. Each bill pays out its share of Gram to **whoever owns the bill at that moment**, and then the bill destroys itself. You keep the proceeds, not the NFT.

### Do NOT transfer or sell the receipt

This is the single most important warning in this chapter.

* The payout goes to **whoever holds the bill when the cycle settles.** If you send the bill to someone else, or sell it, **they** receive your Gram, not you.
* The receipt's on-chain metadata literally warns "DO NOT SEND ON CONTRACTS." Do not move it to another contract, a marketplace, or any address you do not control.
* The bill is not a tradable collectible and has no purpose other than collecting your specific withdrawal. There is nothing to gain by moving it and everything to lose.
* You cannot usefully burn the bill early to jump the queue. The contracts reject an early self-burn (the receipt only pays out as part of the automatic end-of-cycle batch).

In short: request the withdrawal, then leave the receipt alone in your wallet until your Gram arrives.

## Why withdrawal is not instant (the \~36 hour cycle)

KTON pools the deposited Gram and lends it to validators, who stake it with TON's native validation system to earn rewards. That staked Gram is locked while validators are doing their job, so the protocol can only return your funds after it has recovered stake from the relevant validation rounds.

The timing is driven by TON's own schedule, not an arbitrary KTON lock-up:

| Cycle                                    | Approximate duration                           |
| ---------------------------------------- | ---------------------------------------------- |
| One TON validation round                 | \~18.2 hours                                   |
| KTON deposit/withdrawal settlement cycle | \~36 hours (exactly two TON validation rounds) |

A withdrawal request has to wait for the current settlement cycle, which spans roughly two TON rounds while the protocol recovers staked Gram and finalizes the round's accounting. That is why you should plan for up to a full \~36 hour cycle before your Gram arrives. There is no fixed lock-up beyond this; you are simply waiting for the in-progress cycle to close.

## The "instant" withdrawal path: why you should ignore it

The pool contract does contain an optional immediate-payout path, where a withdrawal can be paid out in the same transaction if the pool happens to have enough free Gram on hand. In theory this would let you exit without waiting for the cycle.

In practice, **this path is economically disabled on the live KTON pool and you should not use it.**

* The instant path carries an **instant-withdrawal fee that is set to roughly 100%** on the live pool. Taking the instant route would forfeit essentially your entire withdrawal. It is a trap, not a feature.
* The pool also keeps almost all of its Gram lent out to validators, so the free liquidity the instant path needs is usually not available anyway.

The real, reliable exit is the **normal \~36 hour queued withdrawal** described above. That path settles at the protocol's true exchange rate with only standard gas costs, no punitive fee.

## Emergency swap on STON.fi: last resort only

If you absolutely cannot wait \~36 hours, KTON does trade on the open market, so in principle you could swap KTON for Gram immediately on a DEX instead of unstaking through the protocol.

The only meaningful venue for this is a single **STON.fi** KTON/Gram pool, and it comes with serious caveats:

* The pool is **thin** (STON.fi itself flags it as low-liquidity). A swap of any meaningful size will move the price against you and you can receive noticeably less Gram than your KTON is worth at the protocol rate.
* This is a market swap at whatever price the pool offers, **not** a redemption at the protocol's exchange rate. You may take a real loss versus simply waiting for the queued withdrawal.
* This route is **not recommended.** Treat it strictly as an emergency option for small amounts when waiting is genuinely not possible.

For full value, unstake through the protocol and wait out the \~36 hour cycle.

## Fees on withdrawal

Withdrawing does not charge a percentage fee on your principal. The amounts involved are small, gas-budget figures rather than meaningful deductions:

* A withdrawal request must carry a **minimum value of 0.5 Gram** to cover processing. This is a minimum request value, not a flat charge taken from your balance.
* A small **finalize fee (1 Gram)** is applied per round at settlement and is socialized across the round's accounting, not billed to you individually.
* Standard TON network gas applies, as with any transaction.

The protocol's main fee, the 16% governance fee, is a commission on **staking rewards** (yield), not on your withdrawal or principal, and the displayed APY is already net of it. See the next chapter for how that interacts with the exchange rate.

## Quick reference

| Question                            | Answer                                                                                   |
| ----------------------------------- | ---------------------------------------------------------------------------------------- |
| How do I unstake?                   | Burn KTON in the app; you receive a payout-NFT receipt.                                  |
| How long until I get my Gram?       | Up to \~36 hours (one settlement cycle = two TON rounds).                                |
| Do I need to claim manually?        | No. Gram arrives automatically when the cycle finalizes.                                 |
| Can I transfer or sell the receipt? | **No.** Whoever holds it at settlement gets your Gram. Leave it alone.                   |
| Is there an instant option?         | A built-in instant path exists but is economically disabled (\~100% fee). Do not use it. |
| Can I exit faster another way?      | Only a thin, low-liquidity STON.fi swap, at a likely loss. Not recommended.              |
| What does it cost?                  | Standard gas; no percentage fee on principal.                                            |

Next: **Yield, Exchange Rate and Auto-Compounding**


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