Ethereum Foundation Eliminates the Estimated Withdrawal Timeframe for Staked ETH – crypto.news
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Ethereum holders must wait for detailed information on when they can withdraw their stake after the ETH withdrawal dates from the official website of the Ethereum Foundation.
Ethereum has finally transitioned from Proof of Work to Proof of Stake consensus mechanism after users eagerly awaited this transition for years. The real question on the minds of Ethereum bettors is: when can Ethereum bettors withdraw their stake in ETH? A question that is still unclear today.
Prior to the merger, it was apparent that the Ethereum Foundation team had made a rough estimate of the staked withdrawals that would open 6-12 months after the Ethereum Mainnet was merged with the Proof of Stake Beacon Chain. Ethereum publicly displayed this information on the official website of the Ethereum Foundation.
However, after the merger, the Ethereum Foundation seems to have quietly removed this information from its official website to avoid the fearful eyes of restless investors. It is unclear why Ethereum has hidden this information, but the most likely course is that the developers expect the withdrawals to last more than 12 months.
Ethereum’s New Tokenomics Post-Merge
Since Ethereum opened its staking pools to enterprising investors, users have staked more than 14.5 million ETH, equivalent to more than $18 billion, at the current market price of ETH. Investors can earn by betting in three ways:
- The deposit offers bettors bet commissions, which are currently 4.1% of the invested capital.
- Investors can receive a “capital gain” as the value of ETH increases over a period of time.
- Validators earn from fees paid by users for each validated block.
However, it is unfortunate that staking Ethereum is currently only a one-way ticket, as the ETH Foundation has not granted withdrawal means or days. This means that investors cannot withdraw staked or earned ETH. Enjoying stake rewards is limited only to validators of the new PoS network. However, the confirmation fee is very small compared to setting the rewards.
The postponement of withdrawal dates was highly anticipated by Ethereum fans. Ethereum had informed the public that staked ETH cannot be withdrawn immediately after the merge. It is also likely that the process would be slow once the leaves start and would involve the gradual and queued release of write-offs. The queue could last a few months before investors could finally get their hands on unstaked ETH, even though Ethereum allows withdrawals.
According to Ethereum, withdrawals will only begin after the expected Shanghai update, which was originally expected to take place 6-12 months after the merger. However, it looks like the Shanghai update is taking longer than expected.
As the dates for the completion of the Shanghai upgrade are currently unavailable, investors will have to wait patiently for clarification on when and how they can release their funds. As bearish market sentiment continues to wreak havoc on the crypto space, validators are painfully watching their Deposited ETH devaluations on a daily basis.