Deleverage and Withdraw
How to manually deleverage the vault to withdraw any size deposit.
At any time users can redeem their entire iToken for their portion of the vault. Normally users withdraw from the withdraw pool however if you wants to withdraw more than whats available you can force a deleverage of the vault to unwind your portion of the vault.
You can issue a withdraw and deleverage by checking the box in the Withdraw panel.
The Deleverage option is in the Withdrawal menu
Once the option to F
orce Deleverage and Withdrawis ticked on you will be able to withdraw your entire balance even it its more than the availably shown withdraw pool.
When you deleverage the vault, the vault unwinds by selling stETH collateral to repay ETH debt. When issuing a deleverage there will be increased gas costs as the transaction uses a flashloan to unwind the vault and withdraw your deposit.
Due to the complexity of the vault and the leveraged state of the vault, positions that are smaller (less than $5000) may not be able to be force deleveraged.
When you force deleverage the vault, the vault sells stETH Collateral to repay the ETH debt in the vault allowing you to withdraw your position. The caller of the deleverage will pay for the losses incurred to the vault in the transaction. When forcing the vault you must return the vault to the same health it had prior. This means if you force deleverage the vault when stETH is less than ETH price, you pay additional costs to maintain the vault ratio.