Bedrock Gives One Week for Veda Vault Withdrawals: Report

• Bedrock announces Veda Vault closure, giving users one week to withdraw their assets.
• The closure only affects Veda Vault, with all other Bedrock vaults fully operational.
• Users must withdraw funds via the Bedrock dApp before the deadline to avoid locked assets.

Bedrock, the top liquid restaking protocol, has disclosed the shutdown of its Veda Vault. Bedrock announced in an X post on Friday that the Veda Vault will be closing permanently. Users have one week to withdraw their assets, ensuring full access to their funds before the closure. Users can use the Bedrock dApp to withdraw their funds prior to the indicated time. 

Other Vaults Unaffected

The company has explained that the shutdown only affects the Veda Vault. All other Bedrock vaults are functioning at their normal capacity and will not be impacted by this decision. Bedrock also wanted to calm the users and said that other investments and deposits would not be affected on the platform. Although no specific cause was given for the shutdown of the Veda Vault, the notice seems to be part of Bedrock’s policy of openness. 

Bedrock continues to be a liquid restaking provider where users can stake their digital assets securely in multiple vaults. The shutdown of one vault will not significantly impact the platform, as the other vaults will remain operational.

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Users are encouraged to act without delay and transfer their tokens to the Bedrock dApp to withdraw their assets from the Veda Vault. Since the one-week window has already started, it is important that withdrawals be made swiftly so that no funds are left locked.

Bedrock has demonstrated its commitment to keeping users informed throughout the entire process. Other services of Bedrock are still open for business and offer a great possibility of liquid restaking. 

This update highlights the importance of staying informed about changes from crypto service providers. The crypto community will be keen to see how Bedrock approaches this transition and improves its services.

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