Withdrawal

The withdrawal mechanism for Nebeus staking involving nNELX tokens operates as follows:

Withdrawal Option: Exchange nNELX for NELX

To withdraw staked NELX and claim rewards, users must execute the following steps:

  1. Send nNELX to the Staking Contract Address:

    • The user sends their nNELX tokens to the designated staking contract address on the respective blockchain network where staking was originally performed.

    • This action serves as a signal to initiate the withdrawal process.

  2. Automatic Exchange of nNELX for NELX:

    • Upon receipt of nNELX by the staking contract, the contract validates the user's balance and burns the received nNELX tokens.

    • The staking contract calculates the equivalent amount of NELX, including the initial staked amount and any accrued staking rewards.

  3. Transfer of NELX Back to Holder's Address:

    • The staking contract sends the calculated amount of NELX directly to the user’s wallet address that initiated the nNELX transfer.

    • This ensures a seamless and automated withdrawal experience.

Key Features of This Withdrawal Process

  1. Security:

    • The process is fully executed on-chain, ensuring transparency and immutability.

    • By burning the nNELX tokens upon withdrawal, the system maintains a balance between the staking pool and the circulating supply of NELX.

  2. Convenience:

    • Users do not need to interact with multiple interfaces. Sending nNELX to the staking contract is the only required action to trigger the withdrawal.

  3. Efficiency:

    • The rewards are automatically included in the withdrawal, eliminating the need for manual claiming.

  4. Network Compatibility:

    • The withdrawal process is network-specific. Users must interact with the staking contract on the same blockchain network where the staking was performed.

Example Workflow

  1. Staking Contract Address:

    • Ethereum: 0x...

  2. Withdrawal Execution:

    • User sends 100 nNELX to the staking contract address on Ethereum.

    • The staking contract burns 100 nNELX and sends back 100 NELX + accrued rewards (e.g., 5 NELX) to the user’s Ethereum wallet.

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