As the popularity of Shibarium, the layer-2 network, continues to soar, a member of the Shiba Inu marketing team has revealed a detailed guide on how investors can withdraw their assets from Shibarium to Ethereum.
With the relaunch of Shibarium attracting significant attention, many investors may be interested in learning how to move their assets back to Ethereum. This could be prompted by the need to access other decentralized applications or exchanges incompatible with Shibarium.
Read Also: Why SHIB Price Not Rising Despite Shibarium Launch? Top Shiba Inu Team Member Answers
To address this, Lucie, a prominent community figure and marketing specialist for the Shiba Inu ecosystem, recently shared a comprehensive step-by-step guide in the form of a video.
Want to withdraw from #Shibarium to Ethereum? Here's the scoop:
1. **Have ETH**: Ensure you have enough Ethereum to cover gas fees.
2. **Patience is Key**: Why the wait? When moving from Layer 2 (L2) using a plasma bridge, delays are common. It's not just Shibarium—this happens… pic.twitter.com/TBZJjJMWzV
— 𝐋𝐔𝐂𝐈𝐄 | Summer of Shibarium (@LucieSHIB) August 29, 2023
Important Considerations
Lucie highlighted a few crucial points that users should keep in mind while bridging their assets from Shibarium to Ethereum. Firstly, investors must ensure they have enough ETH to cover the gas fees. These fees are subject to fluctuations depending on the network’s congestion and demand.
Additionally, Lucie emphasized the need for patience during the withdrawal process. This is because Shibarium utilizes a plasma bridge, a security solution that relies on periodic checkpoints and exit challenges to ensure transaction validity and security. As a result, withdrawals from Shibarium to Ethereum are not instantaneous but require some time to finalize.
Lucie clarified that the delays are usually not due to technical issues but rather necessary security checks and confirmations. These measures ensure the safe transfer of users’ assets from Shibarium to Ethereum, minimizing the risk of fraud or loss.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: As Shibarium Relaunches, ChatGPT Projects $0.1 Shiba Inu (SHIB) Price. Here’s the Timeline
Step-by-Step Guide to Withdraw from Shibarium
The video shared by Lucie outlines the following steps:
- Access the official Shibarium platform and tap on the Menu option (nine grid dots at the top) to switch to the Bridge option, assuming your wallet is already linked.
- Within the Bridge option, select the Withdraw function.
- Choose the specific token you intend to withdraw and input the desired amount.
- A summary of the withdrawal process will be displayed, including the withdrawal amount, estimated completion time (typically three hours), and the estimated fee.
- You will have the opportunity to initiate a cap request. This request authorizes the movement of your assets from Shibarium to Ethereum until the specified amount is reached. It is advised to input a rounded figure for this request.
- The transaction status will appear as pending as it progresses through three stages: initialized, checkpoint, and challenges.
- Once the transaction reaches the completed stage, it will enter the queue, which may take up to seven days for full processing.
By following these steps, users can navigate the process of withdrawing their assets from Shibarium to Ethereum.
Follow us on Twitter, Facebook, Telegram, and Google News
