ETH 2.0 staking period expires - wait queue now 17-days
Everyone waited with high levels of anxiety and trepidation, some wondered would the USA Operation Chokepoint 2.0 bring down crypto before they could unstake their ETH 2.0? Thankfully we all know the answer, nope. However, the USA Chokepoint is rolling slow and continuing to wreaking havoc but the Crypto market remains alive and well?!? While ETH 2.0 Beacon Chain is active allowing the unstaking date has come and gone.
The unforeseen issue now is the unstake queue has swelled to 17-days. Really more than 2-weeks to get your hands on your 32+ ETH?
What caused this backlog? 5% (roughly 28,500) of ETH Validators have decided to leave the ETH Staking Process.
then compound that with the process (i.e. Hurdles) placed to control the flood of unstake requests:
Those steps are:
- Validators first send a voluntary message to exit, involving a 25-minute wait period
- Then validators join the exit queue, which now sits at days.
- Withdrawal delay of about 27 hours.
- Lastly, withdrawals are processed and deposited after another 4.25 days.
- In summary, if a Validator selects to exit the ETH Validator period has elongated out to 17-days!
Partial withdraws only take 4.27 days - hmm, the DCA out theory makes sense to me. How about you?
Why do people wait in lines? Years ago ('07-09) people waited in lines to get the latest Apple iPhone, Taylor Swift fans love to wait and wait and then pay iPhone prices for concert tickets. Would you wait of follow the DCA out partial approach?
Eth Optimism - ETH states more ETH has been staked recently than unstaked (context is key here folks....not sure when ETH counts a Validator as unstaked is it that 17th day?
Summary - Over 1 million ETH have been unstaked since Beacon Chain went live. what do you think am I onto something w/ DCA exit plans for the Validators?
