Withdraw bfBTC
Withdraw to EVM
Call
requestWithdraw(uint256 amount)
amount: The amount of bfBTC to withdraw.This transfers your bfBTC to the contract; bfBTC is not yet burned.
Await Administrator Approval
The administrator calls
approveWithdraw()to approve the withdrawal request.A cooldown period (currently 1 epoch) is required before approval.
Call
claim(uint256 withdrawId)to receive BTC
withdrawId: The withdrawal request ID.Use
claimable()to check the claimable amount.Successfully claiming yields the underlying token (BTC).
Notes:
Order Status
Order status typically transitions:
Pending -> Approved -> Claimed.
On Bitlayer:
Pending -> Approved -> Unbound -> Claimed.
On Bitlayer, after approval, funds must be transferred via the bridge to the contract before the status changes to Unbound, allowing the user to claim funds.
Withdrawal approval time may vary depending on Ceffu's processing speed. BitFi aims to process withdrawals within 3 epochs.
On Ethereum, when withdrawing WBTC, the actual withdrawal amount is calculated using the Chainlink Oracle's WBTC/BTC price:
Recv: Amount of WBTC received (8 decimals).
WithdrawAmount: Amount of bfBTC withdrawn (8 decimals).
OraclePrice: WBTC/BTC price from the oracle.
Ratio: Exchange ratio between BTC and bfBTC.
Withdraw to BTC
Call
requestWithdrawNative(uint256 amount, uint8 btcAddressType, bytes32 btcAddress)
amount: The amount of bfBTC to withdraw.btcAddressType: BTC address type (1-4).btcAddress: The receiving BTC address.
Await Administrator Processing
The administrator calls
nativeWithdraw()to process the withdrawal request, sending BTC to the specified address.
Important Notes
Deposits and withdrawals must be made while the contract is not paused.
Withdrawals require a cooldown period. (1 epoch)
The actual amount of BTC received depends on the current epoch's ratio and price.
The displayed amount on the Bitcoin network may differ.
Withdrawal approval time may vary depending on Ceffu's processing speed. BitFi aims to process withdrawals within 3 epochs.
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