> ## Documentation Index
> Fetch the complete documentation index at: https://docs.redpotion.finance/llms.txt
> Use this file to discover all available pages before exploring further.

# Depositing

> Depositing into a Red Potion fund is a two-stage process: you queue a deposit into the current batch, and later claim the shares once that batch settles. This page walks the full p

Depositing into a Red Potion fund is a two-stage process: you **queue** a deposit into the current batch, and later **claim** the shares once that batch settles. This page walks the full path.

## The timeline

```
You deposit ──▶ batch closes at cutoff ──▶ reporter submits price ──▶ review delay ──▶ report accepted
   (queued)                                                                             (batch settles)
                                                                                              │
                                                                                     You claim shares
```

<Steps>
  <Step title="Request">
    You call `deposit(asset, amount, proof)` on the [DepositQueue](/developers/contract-reference/deposit-queue). For an ERC-20 you approve the queue first; for native ETH you send `msg.value` equal to `amount`.

    The queue checks the deposit against the fund's [RiskManager](/developers/contract-reference/risk-manager) (whitelist, caps, minimums) and escrows your assets. Your request joins the **current batch**.
  </Step>

  <Step title="Wait for settlement">
    The batch closes at its cutoff. A reporter submits the NAV price; after the mandatory review delay, an operator accepts the report. Acceptance settles the whole batch at one price.
  </Step>

  <Step title="Claim">
    You call `claimDeposit(asset, batchId)` and receive your pro-rata share of the batch's minted shares. There's no deadline — claim whenever you like.
  </Step>
</Steps>

## Your price is the *next* accepted report

An important subtlety: when you deposit, you do **not** lock in the current price. Your batch settles at the **next** NAV report accepted after the batch closes.

Risk checks (like caps and minimums) are evaluated at request time against the last known price, but the actual conversion uses the fresh settlement price. This is what guarantees every depositor in the batch the same, forward-looking fair price.

## One request per batch

You can have at most one open deposit request per asset per batch. Depositing the same asset again in the same batch reverts — cancel and re-deposit if you want to change the amount, or wait for the next batch.

## Cancelling

You can cancel your **current-batch** deposit any time before it settles by calling `cancelDeposit(asset)`, and you'll be fully refunded.

Once the batch settles, cancellation is no longer possible — you instead claim your shares. A fund admin can also cancel a stuck request in any unsettled batch, refunding you.

## Claiming — the math

When your batch settles, the Fund mints a total number of shares for the whole batch. Your claim is pro-rata to your share of the batch's deposits:

```
your shares = your deposit × batchShareTotals / batchDepositTotals
```

## What can block a deposit

The [RiskManager](/developers/contract-reference/risk-manager) can reject a deposit for any of these reasons. Each control is optional per fund:

| Reason                     | Meaning                                                                               |
| -------------------------- | ------------------------------------------------------------------------------------- |
| Not whitelisted            | The fund uses a depositor whitelist and your address isn't in it                      |
| Below minimum              | Your deposit is smaller than the fund's minimum                                       |
| Batch cap exceeded         | This batch has already reached its deposit cap                                        |
| TVL cap exceeded           | The fund is at its total-value ceiling                                                |
| Drawdown gate              | The share price has fallen too far below its high-water mark; new deposits are paused |
| Asset not allowed / paused | The asset isn't accepted, or deposits are paused (globally or for that asset)         |

See [Risk Controls](/using-redpotion/risk-controls) for details on each.