Important Unstaking Information:
As withdrawals in our web staking pools start to open up, we thought it would be a good idea to write a guide on what to do next. If you are brand new to this process, it is a good idea to read through all the steps before you start.
Unstaking Must Happen From the Same Wallet Used to Stake your Tokens.
Here are the Steps to Successfully Unstake:
- To remove your Uniswap LP tokens from (the liquidity pool) or your wMBX from the staking pools on the website, firstly go to your pool.
- Connect your wallet using the connect wallet button on the top right of the screen.
- Wait until the withdrawals are open, again if you withdraw before the pool ending date you will incur a penalty as seen on your staking dashboard, so we advise you to wait until the full term of the pool for maximum rewards.
- Select unstake.
- MetaMask will pop up or your web3 wallet you used to stake, with the number of tokens you wish to remove and the price of the gas fees. You will need some ETH in your wallet to pay for the transaction.
- Confirm your transaction in MetaMask, and remember to edit the gas fee if you wish to change the increase or decrease transaction speeds, but we recommend you use the average rate.
- Finally, wait until the transaction goes through.
- Your Uniswap LP tokens or wMBX Tokens will now be in your wallet.
Should you wish to remove liquidity from Uniswap you will need to go to https://app.uniswap.org/#/pool to remove them.
To remove liquidity from a pool on Uniswap, first, click on ”pool” and the pair you provided liquidity to in this case wMBX/ETH pool.
Choose the amount of liquidity you want to remove from the pool and click on ”approve” and sign the message on MetaMask.
After that, click on ”remove” to remove your liquidity from the pool. You can remove as much or as little as you like but keep in mind that you will incur ETH gas fees every time you do this. So all in one removal is recommended to limit gas fees.
Due to the potential of impermanent loss, you may receive a different distribution of tokens upon redemption than you initially added. That means the ratio of your wMBX to ETH may change over time. You could end up with more wMBX or ETH depending on which way people are trading. This is known as impermanent loss
