weNFT
Last updated
Last updated
The withdraw process includes a 7 day Cooling Down Period, that is, the period between the snStables withdraw request is done and the resulting nStables are available to be claimed.
During the 7 day Cooling Down Period, an ERC-721 non-fungible token called weNFT (Withdraw Escrow NFT) is created. This non-fungible token represents the amount of nStables that will be received as a result of the withdraw request a user has made. Each weNFT is unique, represents a certain withdraw request and is burned after the Cooling Down Period has elapsed and the nStables have been claimed.
Every time a user starts the , a unique weNFT is created and delivered to the user based on the nStable to be withdrawn, for example: if a user wants to withdraw 1000 snBRL, a wenBRL will be created for that request. The user will hold the weNFT during the Cooling Down Period and will be able to make the claim at any point after such period has elapsed. Once this period has passed and the user has claimed the snStables, the ERC-721 will be burned.
Each weNFT is non-transferable and can be viewed in .
If a user has 3000 snStables available to withdraw, it may do such withdrawal in as many transactions as desired. The user may select to withdraw 1000 snStables on a certain day and 2000 snStables the next day, and therefore will receive two separate weNFT, one for the 1000 snStable amount and one for the 2000 snStable amount.
In this example:
weNFT 1:
Representing the nStable amount equivalent to 1000 snStables at the time of the withdrawal request (t-0).
Cooling Down Period: t-0 + 7
weNFT 2:
Representing the nStable amount equivalent to 2000 snStables at the time of the withdrawal request (t-1).
Cooling Down Period: t-1 + 7
After the 7 days cooling down period has passed, the user can claim the represented nStables from oldest to newest weNFT created.
Please be aware that there is a known issue when attempting to claim nStables and you are connected with a multisig that requires multiple signatures (This issue happens only when the signatures required are more than one). This bug may prevent successful claiming of nStables and the subsequently burning of weNFT. Numun does not have control over this issue. If you encounter this problem, please for assistance.