What is a Pending Balance?
A pending balance indicates the portion of your redemption request that has not yet been fulfilled. When you redeem funds from Earn, you are calling back the loan and requesting that the counter-party return your funds. Gemini facilitates the transfer of funds between you and the counter-party, and thus passes along your redemption request to the counter-party, who in turn will return your funds in accordance with the timeline defined in the Master Loan Agreement.
On occasion, the counter-party returns a portion of your redemption request before returning the entire request. In effort to return your funds to you as quickly as possible, Gemini returns the redeemed funds as soon as we receive them from our counter-party (rather than waiting for your entire redemption request to be fulfilled).