How do I withdraw Bitcoin from sBTC?Users can withdrawal BTC by submitting a request through the official
Stacks dashboard or through any compatible wallet or application.
Here’s how it works:
- Initiate withdrawal: The user specifies the amount of sBTC to redeem and provides a valid Bitcoin address for receiving the BTC.
- sBTC locked on Stacks: The withdrawal request is recorded and the specified amount of sBTC is locked on the Stacks blockchain.
- sBTC signers approve the request: The withdrawal request is processed by the sBTC protocol. At least 70% of the sBTC signer set must approve the request.
- BTC released: The sBTC signer set broadcasts a Bitcoin transaction to release the BTC to the user’s specified address.
- sBTC burned on Stacks: The withdrawal completion is recorded and the specified amount of sBTC, previously locked, is burned on the Stacks blockchain.
How long does an sBTC withdrawal take?Withdrawals require 6 Bitcoin blocks to finalize, which is approximately one hour.
What fees are involved in an sBTC withdrawal?Withdrawals require the user to pay the Bitcoin network fee
required to confirm the BTC transaction on the Bitcoin blockchain. This fee is estimated based on current network congestion.
Is there a minimum withdrawal amount?No. The only requirement is withdrawals must meet a minimum amount above the dust requirements (546 sats).
Why is there an initial limit on withdrawals?As an added security measure, sBTC will have a temporary initial withdrawal limit of 150 BTC per day (150 Bitcoin Blocks). This will allow sBTC developers to ensure the system is operating as expected before the withdrawal rolling cap is lifted in the upcoming weeks.
What happens if the withdrawal process fails?If a withdrawal fails due to network issues or signer unavailability, the withdrawal request may expire. In that case, the sBTC is unlocked and returned to the user, who can try again without losing funds.
Check out the sBTC home page here for more information and updates as we move closer to the launch of Phase 2 and beyond.