What types of withdrawals are enabled on Ethereum?
Withdrawals come in two types: partial withdrawals and full withdrawals.
Partial withdrawals are automatic and occur when a validator’s balance exceeds the minimum stake of 32 Eth.
Validators cannot choose a specified amount to withdraw.
Validators cannot elect the frequency of withdrawals.
Validators cannot prevent the withdrawal from occurring.
Partial withdrawals are gasless (no fees to the validator).
Full withdrawals involve a validator exiting the active set with a gasless transaction. Once the validator has exited, their total stake of 32 ETH + any accrued rewards will be sent to the validator’s withdrawal address. With full withdrawals, a validator cannot choose to withdraw a specified amount of their staked balance.
How often do partial withdrawals occur?
If your withdrawal credentials are set to 0x01 and point to a valid Ethereum address, then the partial withdrawal will happen automatically. The timeframe of the withdrawal depends on the size of the active validator set and is currently 8.0 days.
More information on queue scaling can be seen here
My withdrawal credentials are not set to 0x01. How do I change them?
Please follow the guide below to update your withdrawal address. Once your JSON file is completed and accepted by the Ethereum blockchain, your node will receive the consensus layer rewards that your validator node has earned.
Once I have changed my credentials to 0x01, can I change them to an alternative withdrawal address?
No, you cannot change it again. The migration from 0x00 to 0x01 is a one-time process, and the Ethereum withdrawal address change is irreversible. When you update your credentials, you must be 100% sure that the ETH address is secure and in your control. We do NOT recommend using an exchange address.
If my 0x01 withdrawal credentials are not set, what happens to my rewards?
Your rewards will continue accumulating with your validator, and you will not be able to access them until your withdrawal address is set.
How do I completely exit my ETH validator node?
On your Allnodes.com/portfolio dashboard page, click the 3 dots … to open the dropdown menu and click “Voluntary exit”. You will need access to your withdrawal address to sign a message to voluntary exit (nothing else).
A voluntary exit will place your validator into the exit queue. The exit queue depends on the size of the validator set by the Ethereum blockchain. This limit exists to regulate the rate of exit and entry into the beacon chain validator set.
If you have not set your 0x01 withdrawal credentials, you will not be able to exit your validator. You must set your withdrawal address.
Can I cancel a voluntary exit that is already in the queue?
No, you cannot cancel it. This is a one-time, irreversible process. Once you submit your withdrawal request, you cannot change your mind.
There are 3 steps to exiting. Each step will show a timer.
Step 1 will show when your Validator will exit. In this example, there is a large exit queue. While in the queue, your validator will continue to perform node duties and earn rewards.
Step 2 will start a new timer that shows when your Validator has reached the withdrawable epoch. Your validator is no longer performing node duties, and billing charges will stop from Allnodes.
Step 3 will show when your Ethereum will be withdrawn to your withdrawal address.
Have Questions?
Send us an email at [email protected]