Removing liquidity from Bullish Liquidity Pools

Important: Returns may vary with our range-bound versus standard liquidity pools. Learn more by reviewing important information about our range-bound and standard liquidity pools at https://bullish.com/legal/range-bound-liquidity-pools

To remove liquidity in part or in full from Bullish Liquidity Pools (BLPs):

  1. Go to the left-hand navigation and choose Portfolio.
    Portfolio icon on left-hand navigation
  2. Navigate to Liquidity Pool.
    Liquidity pool tab under portfolio
  3. Choose an asset pair you wish to remove liquidity from in the Balances section.
  4. Choose Remove on the far right.
    Remove button on right next to chosen market pair
  5. Choose the market you wish to remove your assets from (e.g. BTC/USD) using the Select Market drop-down menu in the Remove Liquidity confirmation window,
  6. Input the amount of BLP stake you wish to remove. You can also move the scroll bar underneath to decide how much of your total BLP stake you would like to remove.
  7. Choose Remove Liquidity to confirm.
Note: Only standard liquidity pools are subject to a 7-day withdrawal period. The monetary valuation of your BLP stake will change during the seven-day withdrawal period. This change occurs due to trading activity and margin usage.

For example, on day one, you make a request to remove 10,000 of your stake from the BTC/USD liquidity pool. The value of this stake amount is 10 BTC and US$600,000. On day seven, your request is fully completed, however the final value of your 10,000 BLP stake may no longer be 10 BTC and US$600,000 by the end of that seven-day period if the value of the BLP stake has changed over that same period. This can occur when the BTC price moves, resulting in trades against the BLP or when there are margin activities generating fees for the BLP during the seven-day period. The amount of BLP stake to be removed stays the same as when the customer requests the removal.

Viewing your BLP pending withdrawals

To view your BLP pending withdrawal and withdrawal processing period:

  1. Go to the left-hand navigation and choose Portfolio.
    Portfolio icon on left-hand navigation
  2. Choose Liquidity Pool.
    Liquidity pool tab under portfolio
  3. Navigate to the bottom of the screen to Pending Withdrawals.

Amending/canceling your pending BLP withdrawals

Liquidity removal requests cannot be amended. To do so, you will have to cancel your current request and resubmit.

To cancel a pending removal:

  1. Go to the left-hand navigation and choose Portfolio.
    Portfolio icon on left-handnavigation
  2. Choose Liquidity Pool.
    Liquidity pool tab under portfolio
  3. Choose Cancel under Pending Withdrawal.
    Cancel button
  4. Choose Cancel Withdrawal to confirm.
    Cancel withdrawal popup window
Note: You can cancel an existing removal request for the remaining portion. Anything that has already been removed will remain as removed.

Processing liquidity removals

Removing liquidity from BLPs is processed over a seven-day period, (for standard liquidity pools only), beginning on the date on which your request to remove liquidity is accepted. Transfers will be made to your spot account on an hourly basis throughout this period. The remaining portion of your contribution will be affected by market changes during the seven-day period. Assets that remain in the BLP pending removal processing can continue to earn liquidity fees.

When you submit a request, an estimated total value of the amount of assets you are removing based on the Bullish platform price is displayed within the Portfolio screen under Liquidity Pool. As the market is dynamic, the final amount removed cannot be confirmed until the removal is complete.

To view the hourly time-stamped BLP stake removals:

  1. Go to the left-hand navigation and choose History.
    History icon on left hand navigation
  2. Choose BLP Transactions.
    BLP Transactions tab under History

For example, if you request to remove 700 from your BLP stake, this transaction will be broken down into (168) transactions removing 4.16666 of your stake per hour.

View your remaining lock-in days

To view the remaining days of your BLP pending withdrawals:

  1. Go to the left-hand navigation and choose Portfolio.
    Portfolio icon on left-hand navigation
  2. Choose Liquidity Pool.
    Liquidity pool tab under portfolio
  3. View all BLP pending withdrawals listed under Pending Withdrawals.

Warning: Withdrawals are subject to a seven-day lock-in period, during which assets are split equally and distributed over seven calendar days. Please read the Risk Warning at the end of this article.

Risk Warning: Asynchronous Pricing. The withdrawal of your Contribution from a Liquidity Pool is based on the ratio of assets in the Liquidity Pool. This ratio is a function of supply and demand on the Platform which will not always be synchronized with prices quoted by any other third party exchanges or market data providers.

Risk Warning: Withdrawal Period. On your request for withdrawal of your Contribution from a Liquidity Pool, the transfer of assets from the relevant Liquidity Pool Wallet to your Spot Account will be made over a period of seven days (as described in the Liquidity Provider Terms).

Please read carefully the Risk Warning on bullish.com.

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