Verify Pool withdrawal address
Learn about the steps to verify the destination address of the Pool funds after the withdrawal.
In March 2021, ETH2 specifications enabled support for validator withdrawals to ETH1 addresses. This has enabled StakeWise to process validator withdrawals directly into the smart contracts. As a result, the intermediate step of the Horcruxes signing on the withdrawal transaction is not needed anymore. Starting from April 19th 2021, the Pool Escrow contract will be used as a destination address for withdrawing the validator deposits and rewards in Phase 1.5 of Ethereum 2.0. The mechanism for withdrawal will rely on the burning of
rETH2in exchange for pooled ETH at a 1:1 ratio. The contract to support this mechanism will be deployed by the DAO closer to the Phase 1.5 launch.
In this guide, you will learn how to verify whether the withdrawal credentials used for the validator creation match the address of the Pool Escrow contract. As a result, you can be sure that staking is indeed trustless and no one can withdraw your funds to another address on your behalf.
The destination address for all the Pool Validators' funds is the
Pool Escrowcontract address: 0x2296e122c1a20Fca3CAc3371357BdAd3be0dF079. Once the withdrawal from the validators is initiated, the funds will go directly to this contract without an intermediate party involved. You can generate the withdrawal credentials for that contract with the following command:
Linux or MacOS
deposit.exe new-mnemonic --eth1_withdrawal_address=0x2296e122c1a20Fca3CAc3371357BdAd3be0dF079 --mnemonic_language=english --num_validators=1 --chain=mainnet
./deposit new-mnemonic --eth1_withdrawal_address=0x2296e122c1a20Fca3CAc3371357BdAd3be0dF079 --mnemonic_language=english --num_validators=1 --chain=mainnet
After completing the generation steps you should see the
validator_keysdirectory created. In that directory, you will see the
deposit_data-<number>.jsonfile. Once you open that file and search for the
withdrawal_credentialsfield, you will see that it corresponds to the
Those are the withdrawal credentials that will be used for the validator withdrawals after the Phase 1.5 release of Ethereum 2.0.
- 2.Click on the
- 3.Click on the
Read as Proxytab
- 4.Click on the
withdrawalCredentialsat the bottom of the page
- 5.Check whether the value corresponds to the credentials we have generated above (prefixed with
Pool withdrawal credentials
Congrats on completing this guide! You have now learned how to verify the Pool withdrawal address and can be sure of the non-custodial nature of staking with the StakeWise Pool.