🔓Withdrawals

Technical Summary

The withdrawal feature allows users to claim underlying collateral in exchange for their ezETH. The withdrawal process is managed by a contract called WithdrawQueue. This contract has two main configurable parameters:

1. Buffer Capacity: The amount of collateral available for withdrawal at any given time.

2. Cooldown Period: The time it takes for the value to be released to the user after initiating a withdrawal.

Currently, the buffer capacity is set to 5,000 ETH and 20,000 stETH.

The WithdrawQueue contract holds the value that users can claim. When a user initiates a withdrawal, the ezETH gets locked in the WithdrawQueue contract which then gets burned at the time of claim in exchange for the underlying collateral asset.

Withdrawing funds involves multiple time delays:

• Beacon chain exit time is between 9-10 days (see Sweep Delay)

  • This is a result of Ethereum network conditions

• EigenLayer’s minimum withdrawal delay is set to 14 days

  • This is to protect restakers from malicious actors attempting to front-run slashing events

• Renzo’s WithdrawQueue buffer delay is set to 3 days

  • This is based on security recommendations via our partners and auditors

If the WithdrawalQueue buffer has assets, the expected wait time is 3 days and if empty, the expected wait time is between 10-15 days

For faster withdrawals, simply use the instant withdrawal feature. more info

Safety around the withdrawal feature is critical and of the utmost importance, as it involves the movement of actual value out of the protocol. The Renzo team has been hard at work ensuring that the contracts are safe. View our audits here: https://docs.renzoprotocol.com/docs/security/audits