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srUSD is redeemable 1:1 for USDC on-chain. Redemption is permissionless and enforced at the contract level — you do not need anyone’s approval to redeem.

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The redemption path

1

Hold srUSD

Hold srUSD in a wallet on a supported chain.
2

Redeem through the pool

Submit a redemption against the USDC Redemption Pool. A minimum redemption fee (0.3%) applies, which is what sets the autonomous price floor near $0.997.
3

Receive USDC

Receive USDC at the redemption rate. The redeemed srUSD is removed from circulation.
Redemption is for USDC, not for the underlying collateral. srUSD is non-redeemable for the silver or other reserves that back it — only for USDC.

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Why redemption keeps the peg

Because anyone can redeem srUSD for USDC at the floor, any market price below the floor is an arbitrage opportunity. Arbitrageurs buy the discount and redeem, which removes supply and pushes the price back toward $1 — without discretionary intervention.
The redemption pool has a finite capacity by design (~$50M at launch). Under extreme, sustained redemption pressure that exhausts the pool, the autonomous floor weakens. See Collateral & Peg for the full risk picture.

srUSD monetary system

How srUSD is issued and supply-controlled.