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Update on GETH to ETH Exchanges on Guarda

Update on GETH to ETH Exchanges on Guarda

Yesterday, we launched the option to exchange GETH (Guarded Ether) to ETH on Guarda. Since its introduction, we have witnessed an overwhelming demand for these exchanges.

In response to the high demand and to ensure a smooth and uninterrupted experience for our users, we have carefully analyzed the exchange data and decided to stop a larger number of our validators to ensure that we possess enough liquidity assets. This strategic step will guarantee the availability of sufficient liquidity for GETH to ETH exchanges.

Our dedicated financial team is working tirelessly to calculate the necessary liquidity sum to support GETH to ETH exchanges. At the moment, 9 validators have exited the Beaconchain. All funds withdrawn from the validators have been allocated to facilitate the exchange of GETH to ETH. The validator exiting process takes at least 2048 epochs (~9 days) as well as at least 256 epochs (~27 hours) for fund withdrawal according to the Beaconchain mechanism. Currently, our team is calculating the required number of validators to exit and actively working on stopping their operations. Once the validators exit, the withdrawn funds will be allocated for the exchange liquidity.

We kindly request your patience as we process the data and perform the necessary calculations. The nature of this task may require additional time than initially anticipated. While these processes may require significant time and effort, we are determined to deliver accurate and reliable results. By carefully assessing and balancing our liquidity levels, we can provide a stable and reliable platform for GETH to ETH exchanges. We are grateful for your understanding as our financial team continues their hard work.

Rest assured that as long as there is sufficient liquidity available, users will continue to have the ability to exchange GETH to ETH within Guarda Wallet. However, in the event that you encounter any disruptions or find that the exchange option is temporarily unavailable, we kindly ask you to try again the following day.

We understand that any inconvenience caused during this process is regrettable, and we sincerely apologize for any disruptions or delays you may encounter. Our financial team is working tirelessly, and we appreciate your patience and understanding.

For the latest updates on the availability of GETH to ETH exchanges, please stay tuned to this blog post and our social media channels (Telegram, Twitter). We will continue to provide timely information and transparency regarding the progress and developments.

Thank you for your continued support, and we appreciate your understanding as we work towards enhancing the liquidity and availability of GETH to ETH exchanges.

Follow us on Twitter (@GuardaWallet) for real-time updates and visit our Blog for the latest news and announcements.

The Guarda Wallet Team