How To Do Emergency Withdrawal on DeFi Farms? Quickly Withdraw Your LP Tokens

Why emergency withdrawal is important?

Emergency withdrawal is crucial when dealing with the increasing number of scams and fraudulent projects in the crypto space. With the surge in smaller projects and coins during crypto bull runs, it’s no surprise that nefarious individuals are using deceitful tactics to manipulate and steal users‘ hard-earned coins.

Rug pulls are a common scam where previously unknown projects gain value, only for the development team to use code encoded in the system to steal tokens or sell development tokens at high prices before crashing the market. To prevent losses from rug pulls, emergency withdrawal is essential. Signs to look out for include sudden changes to the project’s website or the development team becoming unresponsive.

How to withdraw funds from a smart contract in a case of an emergency

Step 1: Know the MasterChef address

There are a few things that you need to know in order to use the emergency withdrawal function. The first of these is the MasterChef contract and subsequently, your pool number. These are essential to the process of withdrawing your funds so if you do not currently know these things then it is vital you find out.

Step 2: Navigate to the contract

Using the blockchain explorer suited for Polygon, Polygonscan, we are able to view the contract. Next, you need to click the button “write contract” in the Contract tab.

Step 3: Connect your Wallet to the explorer (ethscan or bscscan)

Next, to connect your wallet to Polygonscan,  you need to go to the “connect to Web3” link and choose your wallet. Select your wallet on MetaMask and move on to the next window. This will have finally connected you with the Masterchef and you can use the master withdraw function.

Step 4: Call the emergencyWithdraw function

Within the “Write Contract” section you will find the “emergencyWithdraw” option. This is what you need to select to remove your funds fast. Next, you need to find and enter the pool ID of the pool that you are involved in. You should have your Pool ID noted down. You then need to sign the transaction and you will be able to withdraw your funds from the pool. 

Once the transaction is signed you should get the standard confirmation that your funds have been transferred. 

This tool is incredibly useful when you suspect that a coin or a project you are invested in has fallen victim to a scam or rug pull, and that all the coins could almost instantly become worthless.

Use the RugDoc emergency withdrawal tool

RugDoc is a system that has an array of DeFi features that help to keep you safe when operating in the ecosystem, they provide the instant withdrawal feature. Their site is dedicated to helping and educating those new to the space, providing an essential service when it comes to avoiding scams. At this link above you can learn about the tool and how to use it.


Read also:

intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!

We will be happy to hear your thoughts

Hinterlasse einen Kommentar