Withdraw / redeem of sETH to ETH from stakewise

Hi everyone,
I was wondering if there will the feature of being able to do a 1:1 redemption of sETH to ETH.

I know that you can use sETH/ETH pool to convert but the price is not exactly 1:1 and it could be nice to be able to have a 1:1 redemption.

I think I read somewhere that it is planned but I’m unsure when. I understand that an exact date is impossible but are we talking about next week ? next month? during the year ? later ?

Thank you !

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I have the same question. When will unstaking be possible via stakewise?

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+1 - unstaking has been available for a while now, so why isn’t it available to StakeWise holders? I really hope our ETH isn’t lost here, but it’s very sketchy that we don’t have the ability to withdraw or a clear timeline for it.

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folks native unstaking is coming with the StakeWise V3 upgrade - while the liquidity pools work as intended we lean on your patience until we get the upgrade shipped. we have mentioned this before (including here) so I hope this will no longer seem sketchy.

re ETH “being lost” - all the deposited ETH is in the validators which are publicly tracked by services like rated.network and beaconcha.in. thus I urge you to check out their websites to see for yourself that these validators are active, which means that ETH is being used for staking.

as for the ability to withdraw, all validators are running with an ETH1 address (a DAO-controlled smart contract) as withdrawal address, to ensure the service is non-custodial.

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Thank you for the reply! The v3 announcement was not clear on that point (at least for me).

That’s great news! Looking forward to it. Keep up the good work!

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Just a lost point on the article that is linked when you go to the app (StakeWise V3 Announcement. As an active staking ecosystem… | by StakeWise | Medium) It’s all great but the scheduled release date, based on the article, is late 2022. I think we can all agree that we’re pass that time :slight_smile: So my question is: What is the new scheduled release date ? And may I suggest you modify the article? :slight_smile:

Good luck with everything

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Ehh that’s a fair point - I will update to reflect the latest timeline being August 2023. Thank you for your keen eye!

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Do we have an updated timeline since August has passed and V3 isn’t released?

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Hi Kirill, what is the new timeline for availability of unstaking? Not that I plan on it right away just would be nice to know that it is available. Thanks,

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hey @Valera_Shifrin @srialmaster no hard date but watch the forums in the next few days :slight_smile:

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Any idea when a firm date will be known??

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V3 is live sers! migrate sETH2 and rETH2 tokens into V3 here: https://app.stakewise.io

You can follow this guide: Migrate to StakeWise V3 - StakeWise V3

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i didn’t even see a V3 announcement…if unstaking is not allowed, the app should NOT allow anyone to unstake then. i unstaked 7 days ago, where the hell is my sETH? Am I still earning yield on my trove of ETH? please tell me I am, this is a horrible experience.

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if we didn’t migrate, but instead unstaked our sETH in V2, how do we get our ETH out now? Not good documentation on unstaking (i realize you don’t want people to unstake, but you should still have good documentation on this. am i wrong?

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hey i am not sure what the problem is - if you migrated ETH to V3 and then unstaked, you should wait for the withdrawal queue and then claim ETH in the same interface. you cannot unstake sETH2, a migration of tokens to V3 is required first.

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oh that definitely wasn’t made clear when i unstaked, and it wasn’t clear in any of the documentation you have written about unstaking. just suggesting you guys dial in the verbiage a bit.

in other news, can you respond to my thread about why you allow known scammers to be in the forums offering people “support” while trying to drain their wallets? seems like a pretty important thing for you guys to fix if you want to be legit.

just my 2 cents.

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thanks for your feedback - we didn’t have indications before that the unstaking / claiming mechanism was unclear. we’ll see what we can do on the documentation front.

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Could you answer the 2nd part of the question of MikeSmith? I’m also curious about the steps taken.
“in other news, can you respond to my thread about why you allow known scammers to be in the forums offering people “support” while trying to drain their wallets? seems like a pretty important thing for you guys to fix if you want to be legit.”

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when we see such instances, we ban scammers. naturally, telling whether someone is a scammer or not before they post a message is impossible if you want to keep universal access to the forum intact.

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Migrated from V2 to V3 and unstaked 8 days ago.
My ETH are not on my Ledger yet and when logging into Stakewise there is no trace of the unstaking process and neither about my ETH or ETH2

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