Hord Implements ETH Withdrawals

tl;dr

• Hord introduces Ethereum withdrawals for stakers
  

• Most withdrawals on Hord are processed within 24 hours.
  

• Larger withdrawals may take longer, pending validator queues
  

• Collaboration with Zokyo for smart contract auditing ensures the security of withdrawals.

Stakers can now Withdraw ETH from Hord!

Hord has introduced a significant feature to its platform by enabling Ethereum withdrawals for stakers, offering flexibility and control over their staking positions. Users can now redeem their hETH for ETH directly via the Hord app.

For most withdrawals on the Hord platform, the process is streamlined and typically takes up to 24 hours to complete. However, it's important to note that large withdrawals may involve a slightly longer timeframe. In these cases, one or more of Hord's Ethereum staking pool validators will enter an exit queue. The exact duration of this queue can vary, but even substantial withdrawals are usually resolved within 3-4 business days.

How to Withdraw ETH in 3 Steps at Hord

Withdrawals at Hord are an easy and intuitive process that can be completed in three easy steps. Be sure to follow the steps below:

Step 1 - Connect your wallet

Head over to the Hord App and connect your wallet. Be sure to select your wallet that contains hETH.

Step 2 - Request the withdrawal

Now that your wallet is connected, click on the ‘Withdrawal’ tab and select the amount of hETH you’d like to withdraw. The equivalent in ETH will be displayed below. When you’re ready, hit the ‘Request Withdraw’  button. Review the withdrawal information and approve the transaction in your wallet when you're ready.

Step 3 - Claim your ETH 

There is a gap between requesting a withdrawal and claiming your ETH. Depending on the withdrawal queue, this can take up to 4 days but is usually much quicker. When that time passes, hit the “Claim ETH” button and approve the transaction again in your wallet. A few minutes later, your ETH will be transferred to your wallet.

Swapping hETH on Uniswap

Hord strongly emphasizes security and reliability, as demonstrated by its collaboration with the smart contract auditor Zokyo to thoroughly assess and validate the withdrawal mechanism. 

Additionally, hETH holders seeking even quicker access to their assets can convert from hETH to ETH on Uniswap. This upgrade shows Hord's commitment to providing a user-centric and secure staking experience within the Ethereum ecosystem.

Stay tuned for more significant upgrades, Hordlers!

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Website: Hord.fi/

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Announcements: t.me/hordnews

GitHub: github.com/hord