What is it?
Closing a stake means unlocking the funds and transferring them back to your main wallet.
How to Do It:
- Go to the Active Staking section.
- Click on Close Stake.
- Select the stake you want to close.
- Confirm the transaction.
Closure Process:
During stake closure, the following stages occur:
- Closure Request: Date when the user requested to close the stake.
- On-chain Unlock: The moment when the cryptocurrencies are unlocked from the blockchain, ending the active staking.
- Funds and Rewards Transfer: Staked funds and rewards are transferred to your Main Wallet.
Closure Time:
The closure time is the period needed to unlock the staked cryptocurrencies and transfer them to your Main Wallet. Timelines vary based on the protocol and can take several days.
Minimum and Maximum Amounts:
There are no limits to closing a stake.
YNG Token Credit:
If you are part of a Young Platform Club, the YNG tokens accumulated up to the closure will be credited to your YNG Main Wallet in one lump sum.
Closing Multiple Stakes:
If you have multiple active stakes in the same cryptocurrency, you can choose to close one or more at the same time or all at once, depending on your needs.
Applied Fees:
When you close a staking position on Young Platform, fees are applied to the rewards generated. These fees are calculated as a percentage and deducted directly upon transferring the rewards to your Main Wallet. If rewards do not exceed the minimum fee, the difference will be deducted from the staked amount to reach the necessary minimum. Young Platform ensures transparency, providing detailed information on fees in the Staking Settings.