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Redeeming wPRL for PRL is the mirror image of minting. You submit a withdrawal request on Solana, the validator quorum signs a Pearl redemption transaction, Pearl confirms it, and only then is your wPRL burned.
UI walkthrough placeholder. Exact button labels and screenshots will be filled in once the Nacre app is published.

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How redemption works at a glance

Your wPRL is not burned the moment you click “Withdraw”. Instead, it moves into a pending withdrawal vault controlled by the nacre_two_way_peg program. The vault holds your wPRL in escrow until one of two things happens:
  • Pearl confirms your redemption → the program burns the escrowed wPRL and your PRL is in your Pearl wallet.
  • The request expires or you cancel → the program transfers the escrowed wPRL back to your Solana wallet. No burn, no re-mint, nothing destroyed.
This design has a useful consequence: the wPRL supply on Solana never dips below the PRL backing it on Pearl. Tokens are burned only after the corresponding PRL has already left the Cold Reserve. There is no window where your wPRL is gone but your PRL hasn’t arrived yet.

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Prerequisites

  • A Solana wallet holding the wPRL you want to redeem and a small amount of SOL for transaction fees.
  • A Pearl address where you want to receive PRL.

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Step-by-step

1

Open the Nacre app and click Withdraw

Connect the Solana wallet that holds your wPRL and select Withdraw PRL. (UI: withdraw form — screenshot TBD.)
2

Enter amount and Pearl recipient

Enter the amount of wPRL to redeem and the Pearl address that should receive PRL. The app shows you the net PRL you’ll receive after fees.
3

Submit the withdrawal request

The app calls request_withdrawal on nacre_two_way_peg. This:
  • Transfers your wPRL into the pending withdrawal vault — a program-owned token account that holds it in escrow.
  • Creates a WithdrawalRequest PDA describing where the PRL should be sent.
  • Emits a WithdrawalRequestCreated event the validators see.
Your wPRL is held in escrow, not burned, until Pearl confirms the redemption. If anything goes wrong, the escrow is returned to you in full.
No transfer-fee surprises. wPRL is a Token-2022 mint that supports a configurable transfer fee. For the user → vault escrow step the program waives that fee (it harvests and refunds the withheld amount in the same transaction), so the vault holds the full amount you asked to withdraw.
4

Validators claim a Cold Reserve UTXO

Validators independently observe WithdrawalRequestCreated, agree on which Cold Reserve UTXO will fund your redemption, and post a claim on-chain. This binds the chosen UTXO to your request — no two open requests can claim the same UTXO.
5

Wait for the Pearl redemption

The aggregator broadcasts the Pearl redemption transaction (Cold Reserve → your recipient). The Nacre app shows live progress:
  1. Requested — withdrawal request created; wPRL escrowed on Solana.
  2. UTXO claimed — validator quorum has bound a Cold Reserve UTXO to your request.
  3. Signed — quorum has signed the Pearl redemption transaction.
  4. Broadcast — redemption transaction in the Pearl mempool.
  5. Confirmed on Pearl — Pearl confirms the redemption.
  6. Burned on Solana — complete_redemption runs; escrowed wPRL is burned and your request is closed.
6

Receive PRL on Pearl

PRL arrives at your specified recipient address as soon as the Pearl redemption transaction confirms — which happens before your wPRL is burned on Solana.

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Fees

Burn fees follow the same three-component structure as mint fees. See Fees for the current parameters.
The Token-2022 transfer fee is not charged on the user → vault escrow step, so the only fees you pay are the three above.

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How long does it take?

PhaseTypical duration
Solana withdrawal request (escrow)< 1 minute
Cold Reserve UTXO claim on Solanaseconds
Validator quorum signing + Pearl broadcastseconds to minutes
Pearl redemption confirmation1 Pearl block (~TBD)
Solana attestation + escrow burnseconds
End-to-endTBD

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What if it doesn’t go through?

If the redemption is not completed before the request’s expiry, anyone can call cancel_expired_withdrawal (the Nacre app does this for you). This returns the full escrowed amount from the vault to your Solana wallet via a Token-2022 transfer — no fee, no re-mint, no token destroyed. The Cold Reserve UTXO that was bound to your request is freed for a future request.

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Troubleshooting

Check the request status in the Nacre app. If the redemption has been broadcast it will appear in your Pearl wallet after one confirmation. If the request is stuck for more than a few hours, contact support (TBD). If the request reaches its expiry without completing, you (or anyone) can cancel it and the escrowed wPRL will be returned to your wallet in full.
Withdrawals that have not yet been signed by the quorum can be cancelled from the Nacre app, which returns the escrowed wPRL to your wallet. Once a Pearl redemption has been broadcast, the request can no longer be cancelled — wait for it to confirm.
The SPL Burn instruction destroys tokens but does not release PRL on Pearl. There is no recovery path — only withdrawals initiated via request_withdrawal redeem the underlying PRL. Always use the Nacre app or call nacre_two_way_peg directly.