withdrawal queue v1

[sponnet]

Withdrawal

Stefaan currently own 10 apETH - the ratio apETH/ETH is at 1.1. Stefaan wants to use the apETH contract to exchange his 10 apETH to 11 ETH.

Scenario 1 : apETH has >= than 11 ETH & there is nobody in the queue

Exchange is done immediately. apETH is burnt - ETH is sent back to the sender.

Scenario 2 : apETH has < 11 ETH.

the user needs to call a queueWithdrawal() function which needs

• the amount of apETH sent
• the ratio at the time of the request (calculated internally)
• an ETH fee to process the withdrawal through a push machanism (? TBD)

Then the withdrawal is placed in an ordered list in the contract.

• The APD process will look through the list of active validators - and find the worst performer in the current active set, and broadcasts its exit message.
• this step is repeated for the amount requested to withdraw ( / 32 ETH )
• using the eigenpod , we can withdraw the ETH + immediately decrease the validator count
• when the validator has exited and the funds are deposited back into the contract, the APD calls a function that processes the ETH withdrawal for the top entry in the queue.

Considerations

• By using a push model, no user can keep the queue blocked
• As long as the queue contains entries, ETH deposits for new validators should be disabled.

What if

• what if the ETH returned triggers a contract function on the msg.sender address ?