Withdrawals

Ethereum Withdrawals

Types of Withdrawals on TetaDex via the Ethereum Network

TetaDex offers two types of withdrawals through the Ethereum network: Ethereum Normal Withdrawals and Ethereum Fast Withdrawals.

Ethereum Normal Withdrawals

Normal withdrawals involve two steps: first, the user requests a normal withdrawal, and once the next Layer 2 block is mined, the user must send a Layer 1 Ethereum transaction to claim their funds.

Normal Withdrawal Process:

1. Request Withdrawal: The user initiates a normal withdrawal request. (No gas fee incurred)

2. Claim Funds: After the Layer 2 block is mined, the user sends a Layer 1 Ethereum transaction to claim their funds. (User incurs the gas fee)

Layer 2 blocks are mined approximately every 4 hours, though this can vary based on network conditions, potentially extending up to 8 hours.

Ethereum Fast Withdrawals

Fast withdrawals utilize a liquidity provider to send funds immediately, eliminating the need for users to wait for a Layer 2 block to be mined and Layer 1 confirmation. The liquidity provider will send a transaction to Ethereum, which, once mined, will transfer the funds to the user. Users must pay a fee to the liquidity provider for fast withdrawals. This fee is equal to or greater than the gas fee the provider incurs for the transaction, plus 2 USDT. Fast withdrawals are subject to a maximum limit of $50,000.

Non-Ethereum Withdrawals

TetaDex allows users to withdraw assets directly to different chains. When a user withdraws assets to an EVM-compatible chain, the assets will first be transferred to TetaDex’s Layer 2 asset pool. Subsequently, TetaDex will transfer the corresponding amount of assets to the user’s address from its asset pool on the respective withdrawal chain.

Please note that the maximum withdrawal amount is not only limited by the total assets available in a user’s account but also by the maximum available amount in the chain’s asset pool.This fee is 2 USDT.