Liquidity - Withdraw
Last updated
Last updated
This guide will walk you through the process of removing liquidity from your position. It's important to note that this is a two-step process designed to protect cover buyers by ensuring they have a certain delay to claim a refund following an incident. We'll cover the full process in this guide.
First, ensure you're connected to the DApp and can view your existing liquidity positions.
Connect your wallet to the DApp.
Confirm you're on the appropriate network (e.g., Ethereum mainnet, Polygon, etc.).
Navigate to the Dashboard page to view your liquidity positions.
Choose the liquidity position from which you want to withdraw and start the process.
Review your active liquidity positions in the dashboard.
Click on the specific position you want to withdraw from.
Locate and select the "Commit Withdraw" button associated with that position.
If your position is already committed for withdrawal, this action will not be available.
Before executing the commit transaction, carefully review all the information provided.
Read through the details provided, which may include:
The length of the commit period
Any implications on rewards or position status during the commit period
If you agree with the terms and want to proceed, press the "Confirm" button to execute the commit transaction.
The commit transaction will now be processed on the blockchain.
Keep your wallet open and connected.
Wait for the transaction to be confirmed (this may take a few minutes depending on network congestion).
Once the commit transaction is validated, your position should reflect the change.
Check your dashboard to see the updated position status.
Note the delay countdown before you can withdraw your liquidity.
Remember that during this commit period, you cannot add liquidity or take interests from your position.
If the changes don't appear immediately, try refreshing the page.
Once the delay period has elapsed, you can finalize the withdrawal process.
Return to your dashboard and locate the committed position.
The "Withdraw" button should now be unlocked. Click it to start the final withdrawal.
Specify how you want to receive your withdrawn liquidity.
If the pool allows, choose between withdrawing the underlying asset or the strategy LP token.
Enter the amount of tokens you want to remove from your position.
Review all details one last time before executing the final withdrawal.
Carefully read all the information about the action you are about to undertake.
Double-check the withdrawal amount and token type.
Press "Confirm" to execute the final withdrawal transaction.
The final withdrawal transaction will now be processed on the blockchain.
Keep your wallet open and connected.
Wait for the transaction to be confirmed (this may take a few minutes depending on network congestion).
Once the transaction is validated, you should see the withdrawn assets in your wallet and the changes reflected in your dashboard.
Check your wallet balance to confirm the received assets.
Review your dashboard to see the updated position details or its removal if you've withdrawn all liquidity.
If the changes don't appear immediately, try refreshing the page.
The commit period is crucial for the security of the protocol. Be prepared for this waiting period when planning your withdrawals.
If you're withdrawing strategy LP tokens instead of the underlying asset, make sure you understand how to handle or exchange these tokens if needed.
By following these steps, you've successfully withdrawn liquidity from your position. Remember to regularly assess your investment strategy and make withdrawals in line with your financial goals and market conditions.
