Burn wPRL

Redeem wPRL for native PRL on Pearl.

Burning wPRL releases the underlying PRL on Pearl. The flow is the mirror image of minting: you submit a withdrawal request on Solana, the validator quorum signs a Pearl redemption transaction, and once Pearl confirms it the program burns your frozen wPRL.

UI walkthrough placeholder. Exact button labels and screenshots will be filled in once the Nacre app is published.

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.

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 AddWithdrawalRequest on nacre_two_way_peg. This:

   • Transfers your wPRL into a program-controlled, frozen balance (it’s not burned yet; it’s held in escrow).
   • Creates a WithdrawalRequest PDA describing the redemption.
   • Emits a WithdrawalRequestCreated event.

   Your wPRL is frozen, not burned, until Pearl confirms the redemption. If something goes wrong before that, the request can be cancelled and your wPRL released.

4. Wait for the Pearl redemption

   Validators see the on-chain event, sign a Pearl redemption transaction that pays from the Cold Reserve to your recipient address, and broadcast it. The Nacre app shows live progress:

   1. Requested: withdrawal request created on Solana.
   2. Signed: quorum has signed the Pearl redemption.
   3. Broadcast: redemption transaction in the Pearl mempool.
   4. Confirmed: Pearl confirms the redemption.
   5. Burned: frozen wPRL is burned on Solana.
5. Receive PRL on Pearl

   PRL arrives at your specified recipient address after the redemption transaction confirms on Pearl.

Fees

Burn fees follow the same three-component structure as mint fees. See Fees for the current parameters.

user_net_prl = burn_amount − miner_fee − validator_margin − protocol_fee

How long does it take?

Phase	Typical duration
Solana withdrawal request	< 1 minute
Validator quorum signing	seconds to minutes
Pearl redemption confirmation	1 Pearl block (~TBD)
Solana attestation + burn	seconds
End-to-end	TBD

Troubleshooting

I submitted the withdrawal but PRL hasn't arrived

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 in Signed for more than a few hours, contact support (TBD).

I want to cancel a pending withdrawal

Withdrawals that have not yet been signed by the quorum can be cancelled from the Nacre app, which unfreezes your wPRL. Once the redemption has been broadcast on Pearl, the request can no longer be cancelled.

I burned wPRL with the SPL burn instruction directly

The SPL Burn instruction destroys tokens but does not release PRL on Pearl. There is no recovery path; only burns initiated via AddWithdrawalRequest redeem the underlying PRL. Always use the Nacre app or call nacre_two_way_peg directly.