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Withdraw

A summary of the Unit Network withdraw option with appropriate visuals to guide.
Please note that automated withdrawals are not yet live. Select user withdrawals are being processed manually for time while we are aiming to completely open Withdrawals late Q4 of 2022 and appreciate your patience in the meantime.
An image of the withdraw dashboard

Overview

A withdrawal from Unit Network is a transaction of transferring crypto from the Unit Network environment to an external address (usually a wallet like Exodus or an exchange like Binance). As with all blockchain transactions - and contrary to sending tokens or crypto to another Unit Network user - withdrawals are charged a 1% fee.
Currently users are only able to withdraw the Blue Chip assets we support. The UNIT token and all user generated tokens are not interoperable with other crypto ecosystems until we roll out the self custodial wallets
It is also important to note that withdrawing requires the coins or tokens to be unwrapped which is facilitated by the Vaults. Withdrawal requests go into a queue, and the Vaults compete to process withdrawals and earn fees. All Vaults can process a withdrawal/unwrapping.

Fees

There is a 1% fee on withdrawals from Unit Network split equally two ways:
  • 0.5% is sent to the UNIT treasury
  • 0.5% is sent to the Vault who processes the withdrawal

How to Withdraw

  1. 1.
    Select the Wallet page from the left navigation panel and choose Withdraw​
An Image of the withdraw tab on Unit Network webapp.
2. Select from the TOKEN dropdown which token (BTC, ETH, DOT, etc.) you want to withdraw.
An image containing the list of tokens that available for selection.
3. If you haven't yet entered a trusted withdrawal address for the coin or token you'd like to withdraw you will be prompted to do so.
An image showing a withdraw of Near-NEAR is about to be made. A blank space to input the Near-NEAR address is right below.
4. Once your trusted address has been set, you can complete the withdrawal information
An image of another withdraw page. Details including the token, token amount, quantity of token, etc., are requested.
5. Click Withdraw. If successful a new withdrawal request will appear in your withdrawal history and you will receive your crypto in your external wallet once the blockchain will perform the transaction

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Last modified 8d ago