TechFlow reports that Lido, a liquid staking protocol, has announced on X (formerly Twitter) that users can now directly initiate unstaking of stETH/wstETH directly through the Lido user interface.
The steps to request a withdrawal are: 1. Visit the withdrawal page; 2. Click on the "Request" tab; 3. Select the amount of stETH or wstETH; 4. Click "Request Withdrawal"; 5. Confirm the transaction.
Withdrawal requests are represented by an NFT, which will update when the request is ready to be claimed. After claiming ETH, the NFT will be burned. Users may sell this NFT, but if it is sold or transferred to an account they cannot control, they will no longer be able to claim the withdrawal. It is strongly advised not to sell the NFT for less than the value of the withdrawal it represents.
The steps to claim withdrawals are: 1. Wait 1 to 5 days; 2. Visit the withdrawal page; 3. Click the "Claim" tab.
Please note that in exceptional cases, the withdrawal process may take longer.
Additionally, users who wish to skip the withdrawal queue and exit stETH within minutes can opt to swap stETH/wstETH for ETH via supported DeFi aggregators. The exact stETH/ETH rate may vary depending on time and the chosen aggregator.
