For those who have staked on SODAX Stake and received xSODA, unstaking is the process of returning xSODA to receive the higher amount of SODA that they now represent (your original stake + accumulated rewards). This process is also done from the SODAX Stake app.
⌛ Once you choose to unstake, you will begin an unstaking period. This is additional time you must wait before receiving your SODA token back. This is 6 months as standard, but alternative options, or a penalty are available to receive SODA immediately.
What are the different ways to unstake?
For those unstaking, there are several ways to approach it that will change the rewards you receive:
Waiting the unstaking period: When unstaking, you can choose to wait 6 months for unstaking to complete. This will ensure you receive the full benefit of the rewards you accrued while staking.
Immediately unstaking: When unstaking, you can also select to unstake immediately after deciding to wait. However, to do this you will pay a penalty of up to 50% from the value of your staked SODA. This penalty is variable and dependant on market conditions, and the amount of the total unstaking time you have already waited.
Unstaking by swapping xSODA to SODA: As the xSODA token, representing your stake, is liquid, you can swap it through SODAX's money market. By swapping xSODA for SODA on the market, you will receive its SODA value immediately. However, the return of this option is dependent on the liquidity and slippage of the SODA/xSODA pool. Make sure you check and are comfortable with the SODA you will receive before choosing this option.
All three options are available through the unstaking experience on SODAX Stake.
💡 Changed your mind? If you originally decide to wait the unstaking period but see that the penalty for immediate unstaking or the SODA/xSODA pool have improved, you can cancel the unstake and choose another option.
Step-by-Step Guide to Unstake SODA on SODAX Stake
💡 Your SODA stakes are separate for different networks. If you can’t find your staked SODA, you may have the wrong network selected. Each network’s SODA will need to be unstaked separately.
Also Make sure you have gas before staking. To be able to unstake your SODA from a network, you will need to have a small amount of that network’s “gas token” to pay for the transaction (eg. S token on the Sonic Network).
Open SODAX Stake.
Head to sodax.com and click ‘Launch Apps’ in the top-right.
Ensure that ‘Stake’ is selected on the left-hand menu.
Connect your wallet(s) for networks you currently stake SODA on.
For a detailed guide on how to connect wallets, head to "How do I connect to SODAX?"
Select the network you want to unstake from.
On the Stake page, you should see your SODA stake displayed on screen.
If you do not, or wish to unstake from a different network click the drop-down menu next to “Stake SODA”.
From the menu that appears, click the network that you hold the SODA on that you want to unstake.
The screen should now show your staked SODA balance.
You may also be asked to enable the network by your wallet (if you were previously connected to another). If this happens, enable the new network.
Set the app to unstake.
Beneath the projected APY, click the toggle for “Unstake mode”. This will set up the app to unstake your SODA.
Enter the amount of SODA you wish to unstake.
By using the slider, clicking “max” next to your balance, or by entering an amount directly into the numeric field, choose how much SODA you want to unstake.
The menu below will show how much xSODA will remain after you unstake.
Choose your unstaking method.
Click ‘Unstake’ and you will be reminded of your options for unstaking.
Choose your preferred option, either “Waiting 6 months” (with the option for instant unstaking), or “Instant Unstake” by swapping directly to SODA through the market. Each option will show the amount of SODA you will receive.
Unstake your SODA.
Once you have chosen your method, click “Continue” to proceed.
Then approve the transaction on your selected network.
You may now be redirected to your wallet application, authorize the network to connect.
Confirm the transaction.
Now click “Confirm unstake request”
You will be redirected to your wallet application, authorize the transaction to unstake your SODA.
Watch your transaction complete.
If you stay on the unstake modal you can watch the progress until the message “Ready to claim” appears.
You have now completed your SODA unstake!
If you chose instant unstake, you will now have your SODA tokens.
If you chose to wait, the unstaking time remaining will now be shown at the bottom of the SODAX Stake app.
While you wait for SODA to unstake.
You can click to “Claim early” and sacrifice an indicated %age of your rewards.
Or you can click to “Cancel” the unstake and continue staking.
Once the unstaking timer has completed, you can click to “Claim full value” and receive your unstaked SODA.
All of the above options will require you to authorize the transaction with your wallet.
Need Help?
If you have any further questions about unstaking SODA or need assistance, visit our Support Center for more articles and resources, or contact our support team via the button in the bottom right.