Withdraw

Learn how to withdraw your assets from Moonwell

How to Withdraw

Method 1

1. Navigate to "Markets"

1. Click "Supply" on the asset you would like to withdraw

1. Switch to "Withdraw" using the tabs at the top of the modal

1. With the "Withdraw" modal and preferred asset selected, enter the amount to be withdrawn and click "Withdraw"

1. Click "Confirm Withdraw" in the pop-up window

1. Confirm the transaction in your wallet and wait for it to execute. Once successful, the asset will be withdrawn from Moonwell and sent to your onchain wallet.

Method 2

1. Navigate to "Portfolio"

1. Locate the "Open Positions" section and click on "Withdraw" for the desired asset.

"Open Positions" shows all currently active supply and borrow positions on Moonwell.

1. With the "Withdraw" modal selected, enter the amount you wish to withdraw from Moonwell, then click "Withdraw."

1. Click "Confirm Withdraw" in the pop-up window

1. Confirm the transaction in your wallet and wait for it to execute. Once successful, the asset will be withdrawn from Moonwell and sent to your onchain wallet.

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.

Checking Available Liquidity

Before making a withdrawal, it is important 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.

Compare Withdrawal Amount with Liquidity

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.

Waiting for Liquidity

If the currently available liquidity isn't high enough to process the withdrawal, users should wait until more liquidity becomes available. Liquidity can increase when lenders supply more of the desired asset or borrowers repay their loans.