STAK:Update on Unstaking/Withdrawal of Staked ETH and Rewards from Staking ETH Post Ethereum''s Shapella Upgrade_STA

FollowingtheShapellaupgradethattookplaceon12/04/2023at10:27PMUTC,BitfinexcustomerscannowunstakeandwithdrawtheirstakedETHandunlocktheirETHstakingrewardsforthefirsttime.

TobegintheprocessofunstakingETH2(representedbyonestakedEtherDigitalTokenasdetailedinETH2specificterms)orunlockingyourETH2Rewards(pleaseseeETH2Rewardsspecificterms),customersneedtoconverttheirETH2orETH2RewardstoETH2Unstakingusingthecurrencyconversiontoolontheplatform'swalletpage.?

CustomerswillneedtoentertheamountofETH2orETH2Rewardstheywishtounstake,andthenselect"ETH2-ETH2X"or"ETH2Rewards-ETH2R"inthe"From"dropdownmenuand"ETH2Unstaking-ETH2U"inthe"To''dropdownmenu.?

Followingtheconversion,thebalancewillbeirreversiblyconvertedinto"ETH2Unstaking"and,basedontheresultoftheunbondingprocessofthestakedfundsonchain,theETH2UnstakingbalancewillbeconvertedtoETH,whichcanthenbetraded,withdrawn,etc.ItisimportanttonotethatduetoEthereumnetworklimitations,theETHunstakingorunlockingrequestsmaytakesometimetobeprocessed.CustomerswillhavetowaitfortheETH2orETH2RewardstobeunlockedbytheEthereumnetwork.BitfinexdoesnotcontroltheEthereumnetworkandcannotprovideinformationaboutwhenETH2orETH2RewardswillbeunlockedbytheEthereumnetwork.Bitfinexunderstandsthatunlockingmay,however,takefromweekstomonths.

Important:?

TheconversionrequestfromETH2andETH2RewardstoETH2Unstakingisfinalandirreversible.OnceyouconvertyourETH2toETH2Unstaking,itwillnolongerbestakedandwillceasetoearnstakingrewards.TheETHstakingprocessremainsunchanged.FormoredetailsonstakingETH,pleaserefertothefollowinglinks:BitfinexLaunchesEthereumStakingService

EthereumStakingonBitfinex

MoreinformationontheShapellaupgradecanbefoundathttps://blog.ethereum.org/2023/03/28/shapella-mainnet-announcementandhttps://ethereum.org/en/history/.

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