Coinbase Warns ETH Unstaking Could Take Months

Coinbase will allow customers of its ETH staking program to unstake their assets 24 hours after the Shapella fork on the mainnet. Withdrawal requests could take months to complete, the exchange said.

Highlights

• The Shapella fork has taken place on the Goerli public testnet, enabling withdrawals of staked ETH.
• Withdrawal requests could take months to complete, the exchange said.
• The fork is expected to occur on the mainnet in early April 2023.
• Most stakers will face losses if they withdraw their ETH after Shapella goes live on mainnet, it added.
• The churn limit controls the number of users exiting the network to avoid a mass exodus destabilizing the network.
• The withdrawal period could last for weeks or months, according to the exchange.Developers changed the consensus mechanism from proof-of-work to proof of-stake in September 2022.

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