Initiating the Withdrawal

Initiating the withdrawal requires depositing your pool tokens into the pending withdrawal contract, starting the cooldown period.

The process consists of 3 steps:

1. Determine the number of pool tokens to withdraw

2. Approve

3. Initiate the withdrawal

1. Determine the number of pool tokens to withdraw

If you are withdrawing your entire balance, you can skip this step and use the total number of pool tokens in your wallet in the WEI format in the following steps.

This step will explain how to calculate the number of bnTokens you need to withdraw to receive a specific number of tokens.

• Visit the BancorNetworkInfo on etherscan

• Execute the underlyingToPoolToken function (this is a Read function)

Input variable

Name	Type	Description
pool	Token	The address of the underlying token
amount	uint256	The amount of underlying token you would like to withdraw (in WEI format)

For ETH use 0xEeeeeEeeeEeEeeEeEeEeeEEEeeeeEeeeeeeeEEeE

Output response

Name	Type	Description
poolTokenAmount	uint256	The amount of bnToken representing the underlying token amount

Save the value as this represent the input amount needed to use in the next steps

2. Approve

In order for the contract to interact with the tokens in your wallet and perform the transaction, an Approve must be set first for the contract.

• Visit the relevant pool token token contract, for example: bnBNT | bnETH | bnDAI | bnLINK

• Execute the Approve function (this is a Write function)

spender	The contract address of the BancorNetwork found here
value	The amount you would like to approve (it can be identical or more than the amount you wish to withdraw, BUT NOT LESS) in WEI format as explained here

The number of tokens you approve represents the bnToken you would like to liquidate

• Click Write to sign the Approve in your wallet

3. Initiate the withdrawal (begin cooldown)

This step will explain how to call the initiate cooldown function

• Visit BancorNetwork contract on etherscan

• Execute the initWithdrawal function (this is a Write function)

Input variable

Name	Type	Description
poolToken	Token	The bnToken address (found here)
poolTokenAmount	uint256	The amount of bnTokens to liquidate (found in step 1)

This will initiate the cooldown process and allow to complete the withdrawal