Lido on Ethereum Withdrawals: Guide & Frequently Asked Questions
With the launch of Lido V2, Ethereum stakers with Lido now have access to direct, in-protocol stETH:ETH withdrawals allowing for seamless unstaking of stETH and wstETH. Made possible through the recent Ethereum Shapella Upgrade, withdrawals work to streamline the Lido on Ethereum staking experience and minimize a number of uncertainties surrounding the staking experience.
Below we answer some of the most important questions related to Ethereum withdrawals with Lido. In case of any other questions, stop by the Lido Telegram!
Ethereum Withdrawals - Frequently Asked Questions
What are Ethereum withdrawals?
Withdrawals allow users to unstake their stETH/wstETH. In return, stETH holders receive ETH at a 1:1 ratio in most cases while wstETH ones receive ETH based on the wstETH/stETH ratio when they unstake.
How does the withdrawal process work?
The withdrawal process is simple and has two steps:
- Request: Lock your stETH/wstETH by issuing a withdrawal request. ETH is sourced to fulfill the request, and then locked stETH is burned, which marks the withdrawal request as claimable. Under normal circumstances, this can take anywhere between 1-5 days.
- Claim: Claim your ETH after the withdrawal request has been processed.
How do I withdraw?
Visit stake.lido.fi/withdrawals and press the ‘Request’ tab. Choose an amount of stETH/wstETH to withdraw and press ‘Request withdrawal’. Confirm the transaction using your wallet and press ‘Claim’ on the ‘Claim’ tab once it is ready.
Can I transform my stETH/wstETH to ETH?
Yes. You can transform your wstETH to ETH using the ‘Request’ and ‘Claim’ tabs. Note that, under the hood, wstETH will unwrap to stETH first, so your request will be denominated in stETH.
When I try to withdraw wstETH, why do I see the stETH amount in my request?
When you request to withdraw wstETH, it is automatically unwrapped into stETH, which then gets transformed into ETH (this is the step that takes time). The main withdrawal period is when stETH is transformed into ETH. That's why you see the amount pending denominated in stETH.
How long does it take to withdraw?
Under normal circumstances, the stETH/wstETH withdrawal period can take anywhere between 1-5 days. After that, you can claim your ETH using the ‘Claim’ tab. See here for more insights into the Ethereum withdrawal speeds using Lido.
What are the factors affecting the withdrawal time?
- The amount of stETH in the queue.
- Performance of the validator poolside.
- Exit queue on the Beacon chain.
- Demand for staking and unstaking.
What is the Lido NFT?
Each withdrawal request is represented by an NFT: the NFT is automatically minted for you when you send a request. You will need to add it to your wallet to be able to monitor the request status. When the request is ready for the claim, the NFT's image will be updated.
Staking Ethereum Using Lido
Ethereum staking lets you contribute to the long-term security and decentralization of the Ethereum network, bringing you daily staking rewards in the process. Join a global community of stakers and put your ETH to work.
With one-click staking, daily rewards and industry-leading fees, Lido provides the most popular staking experience in the industry.
Visit lido.fi/ethereum to get started 🏝️