> For the complete documentation index, see [llms.txt](https://token-strategy.gitbook.io/eth-strategy/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://token-strategy.gitbook.io/eth-strategy/how-it-works/redemptions.md).

# Redemptions

Through onchain governance, ETHSR holders can vote to redeem ETH from the treasury for any reason. In addition, ETHSR holders can also vote to repurchase ETHSR using treasury ETH if ETHSR is trading below NAV.

To redeem ETH, the DAO must hit quorum and then the majority of holders must vote to redeem ETH.