Unstaking

To unstake, the user invokes the unstaking function on the PRISM staking contract.

The unstaking action triggers a 3 days cooldown period from the time of triggering the action. An equivalent amount of PRISM to be redeemed is calculated based on the prevailing xPRISM exchange rate.

PRISM to be redeemed by the user is placed in an unstaking queue. PRISM placed in the unstaking queue no longer receives a share of the yield accrued. The xPRISM that is received for unstaking is burnt from circulation.

The daily oracle update for the xPRISM exchange rate will take into account the decrease in PRISM staked if unstaking occurs before the daily update time.