Withdrawing
This page walks you through how to withdraw a deposit on Silo. We use the withdrawal of USDC from the USDC Silo as an example.
In this example, the user has deposited USDC into the USDC Silo and has not used it to borrow ETH.
Connect your wallet and click on the ‘Dashboard’ icon to view all your open deposit and borrow positions.
The screen shows all your open deposit and borrow positions under each silo.
Click the ‘Withdraw’ button next to USDC.
When you click on Withdraw, you are taken to the USDC Silo where you can withdraw your deposited USDC.
Type in the amount USDC you wish to withdraw and click the ‘Withdraw’ button.
Once your withdrawal is complete, you will receive a prompt saying ‘Transaction Successful’.
In this walkthrough the user has deposited USDC and has used it as collateral to borrow ETH.
Connect your wallet and click on the ‘Dashboard’ icon to view all your open deposit and borrow positions.
When you attempt to withdraw USDC that you have used to borrow ETH, your Health Factor will worsen.
The bar will update to show what your new Health Factor is if you proceed with withdrawing.
Keep in mind that if your Health Factor reaches 0%, your position will be signaled for liquidation, resulting in a significant loss of funds due to liquidation fees.
If you are happy with the impact of the withdrawal amount on your Health Factor, click the withdrawal button. You will be required to pay a gas fee for your withdrawal.
Once your withdrawal is complete, you will receive a prompt saying ‘Transaction Successful’.
Your borrow position in the silo will now be updated for your new Health Factor.
Last modified 1yr ago