How to Unstake SafeCoin ($SAFE)
This guide contains detailed steps on how you can unstake and re-delegate your SafeCoin ($SAFE).
SafeCoin is a Proof-of-Stake-based blockchain network that offers fast and secure transactions. SafeCoin is a community version of Solana and therefore shares a lot of technologies with Solana. So do both platforms support building crypto applications that can scale. Solana and SafeCoin share a new consensus method called Proof of History (PoH) to verify transactions that help it to process 65k+ transactions per second. The SafeCoin platform has a native Coin named SAFE that is used to pay the network transaction fee.
Since SafeCoin is a Proof-of-Stake (PoS) network, that means the network operations are supported by a group of validators. Therefore, SAFE coin holders can delegate their SAFE coins to one or more validators who help validate transactions on the network. In this article, we will be diving deeper into how to unstake your SAFE coins by undelegating them from a validator. If you are looking at how to stake your SafeCoin, you can read my how-to guide here.
Undelegating
The first step to unstaking your SafeCoin is to undelegate your SAFE from the selected validator. To do this, open the SafeStake website, then Sign in with your SafeCoin web wallet or Ledger hardware wallet.
Now that you have signed in, it is time to undelegate your SafeCoin. To undelegate, your SafeCoin hit the Deactivate button of the stake account you want to unstake.
Approve the transaction by clicking on the Approve button
Now that we have undelegated the SafeCoin from the validator, we will have to wait until the next epoch before withdrawing our SAFE from the stake account or re-delegating it to a different validator. So please come back to this guide when the current epoch has finished. You can see how much time is left before the next epoch on the top of the SafeStake website.
Unstaking & Re-Delegating
Now that we are in the next epoch, we will be able to withdraw our SafeCoin from our stake account or re-delegate our SAFE to a new validator.
Re-Delegating
To re-delegate, your SafeCoin, select the re-delegate button a menu will open with potential validators. Please consider staking to my validator to help decentralize the SafeCoin ecosystem and support me in writing more articles featuring all there is to know about the SafeCoin ecosystem. The current commission of my validator is set to just 4%. In the list, search for the validator with the name “Martin” and the profile picture as seen below.
Unstaking
To unstake your SafeCoin, click on the Withdraw button. This will withdraw your SafeCoin from your stake account back to your wallet.
Next, enter the amount you want to withdraw from the stake account or click on max to unstake all your SAFE.
Approve the transaction by clicking on the Approve button
Conclusion
Congratulations, you have now unstaked or re-delegated your SafeCoin.
If you have found this article helpful, please consider donating and staking to my validator. Otherwise, consider reading one of my other articles.
SAFE Donation Address: 3aHEKicGmWiTgcNifFkJjpJ3BCxgf5AqFnJrJfYqJUax
SafeCoin validator ID: 9UzheMmVr1eLAjFiwaYftTNrC8JTGSJKi7SBiCwfgC7H
SafeCoin Validator Name: “Martin”
