osToken redemptions

[ulieth]

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Project	Deployment	Actions	Updated (UTC)
docs	Ready	Preview	Aug 26, 2026 1:06pm

[Copilot]

Pull request overview

This PR expands and refines the osToken documentation by adding a dedicated “osToken Redemptions” page, rewriting key parts of “How osToken Works”, and updating multiple cross-links/navigation entries to point at the new/updated sections.

Changes:

• Added a new osToken Redemptions doc and included it in the osToken sidebar.
• Reworked How osToken Works structure/content (LTV, exchange rate, redemption/liquidation, burning) and updated related deep links.
• Updated a few staker/protocol/operator docs for revised anchors and minor UI/icon adjustments.

Reviewed changes

Copilot reviewed 8 out of 9 changed files in this pull request and generated 7 comments.

Show a summary per file

File	Description
staker/vault-staking.mdx	Updates “Position Health” links to new anchors in osToken docs.
staker/risks.mdx	Updates osETH depeg explanation link to the new redemption anchor.
sidebars.ts	Adds the new osToken redemptions doc to navigation.
operator/start-operator.mdx	Swaps the checklist icon asset.
docs/docs/stakewise-protocol/what-is-stakewise.mdx	Updates oracle “Token Stability” deep link to the exchange rate section.
docs/docs/ostoken/ostoken-redemptions.mdx	Adds new documentation explaining the redemption mechanism and flow.
docs/docs/ostoken/intro.mdx	Updates osToken intro copy for clarity and positioning.
docs/docs/ostoken/how-ostoken-works.mdx	Major rewrite/restructure of the osToken mechanics page.

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[tsudmi]

Code review

Found 2 issues:

1. The new page says osToken held on Arbitrum counts as kept, but the Operator Service has no Arbitrum code path — it was removed in v3-operator#811 ("Remove Arbitrum support from redemptions"). AVAILABLE_NETWORKS = [MAINNET, HOODI, GNOSIS] (src/config/networks.py), and DeBank/Rabby lookups are pinned to the vault's own chain via API_SUPPORTED_CHAINS = {MAINNET: 'eth', GNOSIS: 'xdai'} with a chain != api_chain: continue filter (src/redemptions/api_client.py). As written, readers would expect Arbitrum balances to be excluded from redeemable when they are not.

stakewise-docs/docs/docs/ostoken/ostoken-redemptions.mdx

Lines 35 to 37 in 5b61bfc

	3. Skip [Boost](/docs/vaults/boost) positions. Each Boost leverage position has its own proxy contract that holds the osToken on the user's behalf, so those proxy addresses are removed from the minters list, and each user's leveraged shares are subtracted from their balance to avoid double-counting.
	4. Compute `kept` shares — osToken in trackable locations: mainnet, Arbitrum, and DeFi protocols indexed by DeBank or Rabby. Anything else is treated as missing.
	5. Compute `redeemable = minted − kept`, split it across the user's Vaults proportionally to where they minted, and sort by LTV descending then amount descending so the riskiest positions are drawn down first.

2. The page states that for a MetaVault short on liquidity the Operator Service "first pulls assets up from Sub-vaults via a separate redeemSubVaultsAssets transaction". The Operator Service never calls redeemSubVaultsAssets — it skips MetaVault positions outright. src/redemptions/commands/process_redeemer.py logs 'Unexpected meta vault position for %s; redeemable positions should not include meta vaults.' and continues, and they are already filtered upstream at the subgraph query with isMetaVault: false (src/redemptions/graph.py). src/redemptions/tasks.py notes "Meta vault assets are not yet distributed across their sub-vault tree." The function exists on OsTokenRedeemer but is not part of the current flow.

stakewise-docs/docs/docs/ostoken/ostoken-redemptions.mdx

Lines 51 to 53 in 5b61bfc

	The Operator Service downloads the published list from IPFS, picks a batch of eligible positions, and decides how much to redeem from each. If a target Vault is a MetaVault without enough liquidity on hand, the Operator Service first pulls assets up from Sub-vaults via a separate `redeemSubVaultsAssets` transaction. It then builds a Merkle multiproof against the published root and submits a multicall to `OsTokenRedeemer` that refreshes Vault state and calls `redeemOsTokenPositions`.

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