Initiating the Withdrawal
Last updated
Last updated
Initiating the withdrawal requires depositing your pool tokens into the pending withdrawal contract, starting the cooldown period.
The process consists of 3 steps:
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
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
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
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.
Execute the Approve function (this is a Write function)
spender
value
The number of tokens you approve represents the bnToken you would like to liquidate
Click Write to sign the Approve in your wallet
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
poolToken
Token
poolTokenAmount
uint256
This will initiate the cooldown process and allow to complete the withdrawal
The contract address of the BancorNetwork
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
The bnToken address ()
The amount of bnTokens to liquidate ()
