Xend Finance — How to carry out a Savings withdrawal Operation
By: Ohaeri Nnadozie
Tags: Xend Finance, Binance Smart Chain, Defi, Blockchain, Saving

Recently, the Binance backed defi credit union protocol: Xend Finance launched its incentivized test net which will end on the 15th day of January 2021 in preparation for the launch of the main net.

Xend finance tweeted that the first set of weekly winners have emerged. You can view that tweet on its twitter handle here.

Also, the leaderboard is been populated as users are performing different test operation in a bid to understand the operation of the Xend finance protocol and also win rewards. You can view the testnet leaderboard here.

One of the most important operations to perform on the xend finance defi protocol is withdrawal of your savings and return on investment (ROI). This article will show you how to perform this operation.

There are three(3) different withdrawal operations to perform on the Xend finance protocol namely:

· Withdrawal of Personal Savings

· Esusu Cycle withdrawal and

· Cooperative cycle withdrawal.

PERSONAL SAVINGS WITHDRAWAL:

On the personal savings dashboard, the amount withdrawable from your personal savings is the Share Balance.

To withdraw from your share balance,

Click on the drop-down card and select the percentage of your share balance you want to withdraw. You can also type in the amount manual inside the box. Click Withdraw. A MetaMask modal pops-up for you to authorize the operation and pay the necessary gas fees, confirm the transaction from the metamask pop-up modal that comes out after clicking the Withdraw button. If the withdrawal was successful, a “Successful Withdrawal” notification pops out at the top corner of your screen to confirm that the transaction was successful. If the transaction was not successful, a “something went wrong” notification will pop-up at the top of your screen. To resolve this, check that:

· Your metamask wallet is connected to your Xend finance network and has not timed out. If it has timed out, re-input your metamask password on the metamask modal.

· The amount you want to withdraw is equal to the amount in your personal savings net on transaction fees.

6. Try the process again. The video below explains the process.

ESUSU CYCLE WITHDRAWAL:

Two types of withdrawals can be made from an Esusu cycle and they are: Withdrawal of Return on Investment(ROI) and Withdrawal of Capital invested. On the Xend Finance protocol, you must first withdraw your ROI before you can withdraw you Capital.

To Withdraw your ROI:

On the Esusu cycles dashboard,

1. Choose an esusu cycle you are part of and click open to see the details of that cycle

2. Click “Withdraw ROI”

3. · Confirm the metamask modal to authorize the operation

4. · A notification “You just withdrew your ROI from this cycle” pops up to show that the operation was successful.

To withdraw your Capital:

1. Choose an esusu cycle you are part of and click open to see the details of that cycle.

2. · After withdrawing ROI, you can now withdraw your capital by clicking “Withdraw capital”

3. · Click “Confirm” on metamask notification page to authorize the operation.

4. A notification; “You just withdrew your capital from this cycle” pops up to show that the operation was successful.

Please note that if either of the transactions above was not successful, a “something went wrong” notification will pop up on your screen. To resolve this, check that:

· You are connected to a stable internet network

· Your metamask wallet is connected to your Xend finance network and has not timed out. If it has timed out, re-input your metamask password on the metamask modal and reconnect.

5. Try the process again.

The video below explains the process.

COOPERATIVE CYCLE WITHDRAWAL.

To withdraw from a cooperative cycle you are part of,

On the cooperative savings dashboard, click on my contributions to see the cooperative cycles you are part of. Select a cooperative cycle and click on view to see the details of that cooperative cycle. Click on withdraw and confirm the metamask modal that pops up to authorize the operation. A notification; “Your Withdrawal was successful” pops up to show that the operation was successful. If the transaction was not successful, a “something went wrong” notification will pop-up at the top of your screen. To resolve this, check that:

· Your metamask wallet is connected to your Xend finance network and has not timed. If it has timed out, re-input your metamask password on the metamask modal and reconnect.

6. Click the withdraw button again an confirm the operation and you are done.

The video below explains the process.

Conclusion:

The incentivized test net is still live. You can participate @ testnet.xend.finance. You can also join the telegram community and follow Xend Finance on twitter for more updates and announcements.