Unstake ySLOHM#
When you want to convert your staked position back to SLOHM, you initiate an unstaking process. Unstaking burns your ySLOHM and queues your SLOHM for withdrawal after a cooldown period. This guide covers the full process.
How Unstaking Works#
When you unstake:
- Your ySLOHM is burned by the staking contract.
- Your SLOHM enters a cooldown queue.
- After the cooldown period expires, you can withdraw your SLOHM freely.
During the cooldown period, your SLOHM does not earn rebase rewards. This is an important consideration before unstaking, as you lose compounding returns for the duration of the cooldown.
Cooldown Period#
| Parameter | Production | Testnet |
|---|---|---|
| Cooldown period | 3 days (~432 blocks) | 1 block (~10 seconds) |
The cooldown period is measured in Bitcoin blocks. On mainnet, it takes approximately 3 days (432 blocks) before unstaked SLOHM becomes withdrawable. On testnet, the cooldown is reduced to 1 block for testing convenience.
The cooldown exists to protect the protocol from sudden mass unstaking events that could destabilize the reserve. If you initiate a second unstake while an existing cooldown is active, the original cooldown timer is preserved.
Step-by-Step Guide#
1. Connect Your Wallet#
Navigate to the SLOHM app and connect your OPWallet or UniSat wallet.
2. Navigate to the Staking Page#
Select the staking section in the app interface. You will see your current ySLOHM balance and staking details.
3. Enter the Unstake Amount#
Switch to the "Unstake" tab. Enter the amount of ySLOHM you want to unstake. You can unstake a partial amount or your full staked balance.
4. Confirm the Transaction#
Review the unstaking details, including the cooldown period. Confirm the transaction and sign with your wallet when prompted.
5. Wait for Cooldown#
Your SLOHM is now in the cooldown queue. You can track the remaining cooldown time in the app. No action is required during this period.
6. Withdraw#
Once the cooldown period has passed, return to the staking page and withdraw your SLOHM. The tokens will be transferred to your wallet.
Before You Unstake#
Consider the following before initiating an unstake:
- Lost compounding. Your SLOHM stops earning rebase rewards the moment you unstake. Every missed epoch is compounding you will not recover.
- Cooldown duration. On mainnet, you will wait approximately 3 days before you can access your SLOHM.
- Partial unstaking. You can unstake a portion of your ySLOHM and keep the rest staked. Only the unstaked portion enters cooldown.
If you are selling, remember that selling below the reserve floor creates opportunities for others to bond at better rates. See SLOHM Game Theory for more on the dynamics of cooperation and defection.
What's Next?#
To understand why staking is the recommended long-term strategy, see Staking. To learn about the protocol mechanics that make staking rewards possible, see How It Works.