If you invest in an invoice pool and receive regular interest payments monthly, you may naturally assume your principal has a fixed maturity date and you can get all your money back on that date. But this expectation is wrong for rolling pools — there is no such thing as a "maturity date" for your principal locked in the pool.
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How Rolling Pools Work: Your Principal Will Not Be Returned Automatically
The logic of rolling pools is: when the underlying invoice matures and is repaid, the funds will not be returned to you directly, but immediately reinvested in a new invoice to keep the pool operating continuously. Your principal stays locked inside until you actively submit a redemption request, or the entire pool enters liquidation.
Centrifuge's official documentation states this clearly: "The asset maturity date indicates the expected repayment time of the underlying asset, but does not limit the duration of your investment — Tinlake pools are "rolling" pools, and the asset maturity date only tells you how long it will take for the issuer's repayment to become available liquidity for redemptions."
Traditional fixed-term products follow the path of "maturity → principal repayment", while rolling pools follow "maturity → reinvestment → next maturity → reinvest again" and can run perpetually. Every "maturity date" you see refers to the maturity date of the invoice inside the pool, not the maturity date of your principal.
When Can You Get Your Principal Back? 2 Available Channels
Channel 1: Submit a Redemption Request Actively
Rolling pools like Centrifuge allow investors to submit redemption requests at any time, but all requests are processed in batches at the end of each "Epoch" (usually ranging from a few hours to a full day), and execution is subject to the pool's current available cash. If many users submit redemption requests and the pool has limited cash, only part of your order may be fulfilled, and the remaining amount will automatically roll over to the next Epoch to wait in queue, until you cancel it or it is fully processed.
Channel 2: The Pool Enters "Stop Reinvestment" Status
The pool can stop issuing new assets, let all underlying loans mature naturally, collect repayments, and distribute funds to investors, which is the gradual liquidation process of the pool. This liquidation mechanism was discussed in the MakerDAO community: after assets mature, "the asset originator is prohibited from issuing any new loans, and all loan repayments are used to pay back investors", and full liquidation is completed when the last loan matures. However, the pool may not necessarily reach this stage, as it depends on the decision of the issuer.
How to Estimate Roughly When You Can Get Your Money Back
[Action]: Figure out what the "redemption mechanism" of the pool you invested in is, instead of only looking at the "invoice maturity date".
[How to do it]: Find the redemption rule descriptions in the project's official documentation. For Centrifuge-type pools, the redemption mechanism is determined by the Epoch cycle and the pool's current cash reserve. For structured products like Financely, redemptions are designed to "amortize naturally with trade flows", meaning principal is returned gradually as underlying assets are repaid, not paid back in a lump sum at a single maturity date.
[Completion Standard]: You clearly know whether the pool's redemption works by "waiting in queue for available cash" or "natural pool amortization", and no longer take the invoice maturity date as your own principal maturity date.
Redemption requests are processed by priority. In Centrifuge pools, senior share redemptions are prioritized over subordinated shares to ensure liquidity for senior investors. If you hold subordinated shares, your place in the queue will be further back, and it may take much longer to get your principal back.
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Verification Method After Operation
Go to the project dashboard to check the pool's current "available cash reserve" and "total amount of pending redemption orders". If the cash reserve is less than the total pending order amount, it means only part of your redemption request can be fulfilled, and the remaining part has to wait for the next cycle. Mintos' rolling pool rules also confirm this point: principal will stay in the pool continuously until the rolling pool agreement expires, or the issuer triggers a full pool buyback when it cannot replace defaulted loans.
