Buy crypto anonymously on the Incognito pDEX   

Withdraw time very long.... Why?

#1

Greetings!
New user here. Loving not only the app and blockchain but the whole concept and community.

I’m an xmr miner so i just staked my xmr for now but i do have one question regarding the time it takes to withdraw prv rewards. Right now it’s taking more than 24h to withdraw even small prv amounts.
Screenshot attached as an example.

Screenshot_20210301-112707
Screenshot_20210301-1127071080×2280 83.6 KB

This seems a bit extreme. Sometimes it takes 2 full days. My real question is why it takes so long?
And if it is due to the blockchain compute time, would it help if i bought a pNode?
(Both generally and directly if either?)
Thanks!

1 Like
#2

Hi @efraimip, I also requested a rewards withdrawal yesterday morning, and it has yet to be processed. I believe that in order to pay out the rewards, NODEs have to be manually unstaked. While reward withdrawals are supposed to be completed within 24 hours, I think the weekend affects the timeliness of this manual process. Stay patient, the Team always comes through in the end.

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#3

@efraimip The app will tell you to expect a three-day wait for withdrawing of staked (Provided) pCoin. It is common for staked crypto to not be quickly accessible (https://www.cryptovantage.com/guides/crypto-staking/#lock-up-periods).

Traditional coin staking can leave coins locked up as long as 28 days without letting you withdraw (https://www.binance.com/en/support/faq/650826666c344c15a062932983a38c2e).

I feel that Incognito’s three days isn’t too bad. So far I haven’t heard complaints of the system busting that three-day window.

#4

Greetings.
Yes i understand staking takes longer.
I am not asking about staking and agree with you that incognito does a great job with the timeframe on unstaking.

My question is regarding withdrawing rewards only. But thanks for adding your comment here regardless as it’s quite useful.

#5

Ah I see. I just tested it and withdrew a very small amount of PRV rewards in Provide, so I’ll see how long it takes for me. I wonder if it has to do with the (somewhat) new compounding interest feature. It seems the complaints on long withdrawal times increased after that was implemented. Perhaps (total guess) the fact that the PRV gets re-staked at the APY of the original coin you staked means that it might take longer to withdraw. Hopefully someone more knowledgeable will come along.

Added - see the final reply on this post; common problem, currently: Compounding rewards

#6

An important distinction is that Rewards withdrawals typically only take up to 24 hours, while Provision withdrawals typically only take up to 3 days.

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#7

To add to this. Reward withdraws are queued and lineal, meaning that after the first request is filled, the next one will be filled, and so on. In the past it was set at 1 request at a time.
@elvis.p recently pushed new code which makes it so that reward withdraws are now batched at 20 requests at a time, making reward withdraws 20x faster than what they were before. Original provision withdraws remain unchanged, they can still take up to 3 days to withdraw.

2 Likes
#8

Glad to hear about the updated code for withdrawal processes in the Reward aspect of the app…hopefully in near future an upgrade to the withdrawal process in the Provision aspect of the app will be implemented as well… :sunglasses:

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