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

# Liquidity

This page outlines expected **time-to-liquidity** across protocol cooldowns and chain settlement.

#### No lockups

hBTC has **no lockup period**. Users may initiate a withdrawal at any time, subject only to the applicable **protocol cooldown** and **chain settlement timing**.

#### Withdrawal cooldown

* **Standard:** **72 hours**
* **Express:** **4 hours** *(express fee applies; see* *[Fees](../fees))*

<Info>
  Express withdrawals are capped at **2.5% of net asset value** within any 24-hour period.
</Info>

#### On-chain settlement targets

* **Deposit: \~30 minutes** (3 Bitcoin confirmations)
* **Withdraw**: **\~80 minutes** (8 Bitcoin confirm

<Warning>
  Confirmation times are targets and can vary with network conditions.
</Warning>

<Info>
  Settlement targets are defined by the sBTC bridge, not the protocol.
</Info>