# FW Deposit & Redeem

```mermaid
sequenceDiagram
  actor User
  participant FW as FW (StandardizedYield e.g., USDCFW)

  User->>FW: deposit(receiver, tokenIn, amount, minSharesOut)
  FW-->>User: mint FW shares to receiver
  Note over FW: Exchange rate increases as yield accrues
  User->>FW: redeem(receiver, shares, tokenOut, minOut, burnFromInternalBalance)
  FW-->>User: transfer tokenOut to receiver
```

**Key references**: `FWBase.deposit`, `FWBase.redeem` (and `FWBaseUpg` variants).

## Details

* **Goal**: Earn yield via FW shares; redeem later for base tokens.
* **Preconditions**:
  * `isValidTokenIn(tokenIn)` and `isValidTokenOut(tokenOut)` must be true for the chosen FW.
  * Approve `tokenIn` to FW; set `minSharesOut` to guard slippage.
* **Notes**:
  * Exchange rate increases from underlying yield; shares track proportional claim.
  * FW rehypothecates liquidity; see specific implementation (e.g., `USDCFW`).

## Views and events

**Views**

* FW: `balanceOf(user)`, `totalSupply()`, `exchangeRate()`, `previewDeposit(tokenIn, amount)`, `previewRedeem(tokenOut, shares)`, `accruedRewards(user)`.

**Events**

* FW: `Deposit`, `Redeem`, `ClaimRewards`.


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