# 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*](/hbtc/fees.md)*)*

{% hint style="info" %}
Express withdrawals are capped at **2.5% of net asset value** within any 24-hour period.
{% endhint %}

#### On-chain settlement targets 

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

{% hint style="warning" %}
Confirmation times are targets and can vary with network conditions.
{% endhint %}

{% hint style="info" %}
Settlement targets are defined by the sBTC bridge, not the protocol.
{% endhint %}


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