> For the complete documentation index, see [llms.txt](https://defunds.gitbook.io/defunds/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://defunds.gitbook.io/defunds/for-investors.md).

# For Investors

How to invest in DeFunds

## Making an Investment

First of all, you should locate [DeFunds Market](https://app.defunds.co/#/market) and choose desired network. You will see the list of different funds to choose from. You can use filters and sorting to simplify finding a fund that best suits your needs. Each fund has public stats that can also help with the decision, like chart of yield or maximum drawdown. Once you decided, navigate to the chosen fund, click **Invest** button, enter desired amount in **USDT**, then complete transaction in your wallet. 

This is all you need to start your investment - the funds will be deposited to the fund's Trade contract at the next [report](/defunds/reporting.md). Your shares amount will depend on invested amount, and is going to be calculated using this formula:

$$
shares = deposit \* supply / aum
$$

* **Shares** - amount of [**ITKN**](https://defunds.gitbook.io/defunds/technical-overview#itkn), that investor is going to receive
* **Deposit** - amount of invested **USDT**
* **Supply** - total amount of [**ITKN**](https://defunds.gitbook.io/defunds/technical-overview#itkn) at the moment of report
* **AUM** - total sum of assets under management in the fund

{% hint style="warning" %}
Hint: You can cancel deposit at any time before [report](/defunds/reporting.md) happens. Keep in mind, that [subscription fee](/defunds/fees.md#subscription-fee) is not refundable.
{% endhint %}

## Withdraw

To withdraw from fund you need to submit a withdrawal request, that is going to be processed at the moment on the next [report](/defunds/reporting.md). To do this, you should navigate the fund's page and press the **Withdraw** button. After this, you will be prompted to enter the amount to withdraw in [**ITKN**](https://defunds.gitbook.io/defunds/technical-overview#itkn). For example, to withdraw half of your fund share, you will need to burn half of your [**ITKN**](https://defunds.gitbook.io/defunds/technical-overview#itkn). You will also be shown an estimated withdrawal amount in **USDT**; however, keep in mind that this amount may change significantly by the time of the report. The exact amount of **USDT** to receive is calculated at the moment of report, using this formula:

$$
receive = aum \* withdrawal / supply
$$

* **Receive** - amount of **USDT** to receive by investor at the moment of [report](/defunds/reporting.md)
* **Withdrawal** - amount of investor's burned [**ITKN**](https://defunds.gitbook.io/defunds/technical-overview#itkn)
* **Supply** - total amount of [**ITKN**](https://defunds.gitbook.io/defunds/technical-overview#itkn) at the moment of report
* **AUM** - total sum of assets under management in the fund

{% hint style="success" %}
You can cancel withdraw request at any time before [report](/defunds/reporting.md) happens and receive your shares back
{% endhint %}

### Indent

Each fund has its own indent value expressed in days. For funds with a weekly reporting period, the maximum indent period is 3 days, and 7 days for other reporting periods.

Indent period is designed to capture withdrawal requests a few days before the [report](/defunds/reporting.md). During this period, the manager can decide on closing positions without worrying that a large withdrawal request might come at the last moment, triggering unwanted [auto-closing](/defunds/reporting.md#autoclosing). Withdrawal requests made within the indent period are carried over to the next reporting period.

##