> For the complete documentation index, see [llms.txt](https://betoken.gitbook.io/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://betoken.gitbook.io/docs/deposit-withdraw/what-is-the-lockup-liquidity-of-the-fund.md).

# What is the lockup / liquidity of the fund?

The Betoken fund runs in [investment cycles](/docs/betoken-investment-cycle.md), and at the start of each cycle there are **3 days** where users can **deposit & withdraw** their funds: the Intermission phase. Redemptions are available each 27 days  in the Betoken Fund. Redemptions incur no withdrawal [fee](/docs/deposit-withdraw/what-is-the-fees-structure.md).

{% hint style="info" %}
A countdown is displayed at the top of the [Investors portal](https://betoken.fund/portal/#/investing-dashboard) on desktop and in the menu on mobile, to indicate when Betoken accepts deposits and withdrawals. It's happening every 27 days during a 3-day period.
{% endhint %}