Learn how to withdraw your asset from Moonwell
- 2.Locate the "Open Positions" section and click on "Withdraw" for the desired asset. This will take you to the "Lend" page.
"Open Positions" shows all currently active supply and borrow positions on the protocol.
- 1.Select "Withdraw" from the modal.
In this example, the GLMR token is used. However, you can select other assets by using the dropdown menu.
- 2.With the "Withdraw" modal selected, enter the amount to be withdrawn from the protocol.
Please confirm if there is enough liquidity to proceed with the withdrawal. More information can be found below.
- 3.Click "Withdraw".
To initiate the withdrawal process, simply click on "Withdraw."
- 4.Click "Confirm Withdraw".
If the details are correct, confirm the withdrawal and complete the transaction in your wallet.
- 4.Confirm the transaction in your wallet and wait for its execution. Once successful, you will have withdrawn from the desired market.
Once the transaction is confirmed, you will have exchanged the mTokens in your wallet with the asset tokens that you initially deposited into the protocol.
Every asset supported by the protocol has its own corresponding mToken. For instance, mGLMR represents the minted version of Moonbeam's GLMR token.
Before making a withdrawal, it is crucial to confirm that there is enough unborrowed liquidity available. Users are only able to withdraw from the protocol if there is sufficient liquidity to do so. Insufficient liquidity can lead to a failed transaction.
To avoid such failures, users should compare the withdrawal amount with the liquidity available in the market they intend to withdraw from. To check the liquidity of a specific market, go to either "Lend" or "Borrow", select the desired asset and refer to the market information (as shown in the screenshot below).
Monitoring market liquidity is crucial, as it offers valuable insights into the overall market conditions. By keeping an eye on liquidity levels, one can assess how easily transactions can be executed and evaluate the potential risks associated with illiquid markets.
If the available liquidity is not enough for a withdrawal, users should wait until more liquidity becomes available. Liquidity can increase when new users deposit more of the desired asset or borrowers repay their loans.