Vaults are natively created with withdrawals disabled.
If a Vault is not associated with an active loan on the Arcade.xyz platform, Vault owners can enable withdrawals and then transfer assets from the Vault to a connected wallet.
Vault owners should note that enabling withdrawals on a Vault is a permanent action that cannot be reversed. Therefore, once withdrawals have been enabled on a Vault, this state cannot be changed.
After a Vault owner enables withdrawals on a Vault, they cannot:
- Disable withdrawals on the Vault
- Deposit additional assets into the Vault
- Set terms on the Vault
- Start a loan using the Vault as collateral
- Receive airdrops to the Vault
- Transfer ownership of the Vault to another user
In order to enable withdrawals on a Vault and then withdraw assets, Vault owners must follow the below steps:
- After connecting the wallet associated with a Vault, the owner should navigate to the My Profile Menu on the top right and select the My Vaults page.
The owner should then select the Vault that contains the asset(s) they would like to withdraw.
Enabling Withdrawals on Arcade Vaults
Once the next step is confirmed, withdrawals cannot be disabled from a Vault. Users will not be able to deposit into the Vault, set terms, or initiate a loan using the Vault as collateral once withdrawals have been enabled on a Vault.
- After selecting the correct Vault, the owner should hit the
Enable Withdrawalsbutton on the detail page. A wallet notification will immediately follow.
The owner should confirm the on chain transaction if they would like to enable withdrawals on their Vault.
Contract Interaction: This will allow users to interaction with the protocol to enable withdrawals on the Vault.
- Once confirmed, a notification that the on chain transaction is in progress will pop up in the app.
- After the on chain transaction is complete, a success notification will render in the app to confirm that the transaction is successful.
Withdrawals have now been enabled on the owner's Vault.
- After withdrawals have been enabled on the Vault, the NFT(s) held within the Vault can be individually withdrawn from the Vault.
The user should select the asset to withdraw and select the button next to the specific asset on the Vault detail page.
Withdrawwill bring up another MetaMask transaction (Function: Withdraw [Token Type]).
Vault owners should confirm this transaction in the connected wallet to withdraw the NFT to the wallet.
Withdraw [Token Type]: this function will withdraw assets from the Vault to the connected wallet.
- After confirming, a notification that the on chain transaction is in progress will pop up in the app.
- Once the on chain transaction is complete, a success notification on the bottom right corner of the app will pop up to confirm that the transaction is successful.
The NFT has been successfully sent back to the connected wallet. Users can view the NFT in the My Wallet page within the My Profile menu.
Updated about 1 month ago