Validator "Sweeping" (Automatic Partial Withdrawals)

After the Capella upgrade on 12^th April 2023:

• if a validator has a withdrawal credential type 0x00, the rewards will continue to accumulate and will be locked in the beacon chain.
• if a validator has a withdrawal credential type 0x01, any rewards above 32ETH will be periodically withdrawn to the withdrawal address. This is also known as the "validator sweep", i.e., once the "validator sweep" reaches your validator's index, your rewards will be withdrawn to the withdrawal address. The validator sweep is automatic and it does not incur any fees to withdraw.

Partial withdrawals via the execution layer

With the Pectra upgrade, validators with 0x02 withdrawal credentials can partially withdraw staked funds via the execution layer by sending a transaction using the withdrawal address. You can withdraw down to a validator balance of 32 ETH. For example, if the validator balance is 40 ETH, you can withdraw up to 8 ETH. You can use Siren or the staking launchpad to execute partial withdrawals.

FAQ

1. How to know if I have the withdrawal credentials type 0x00 or 0x01?

   Refer here.

2. My validator has withdrawal credentials type 0x00, is there a deadline to update my withdrawal credentials?

   No. You can update your withdrawal credentials anytime. The catch is that as long as you do not update your withdrawal credentials, your rewards in the beacon chain will continue to be locked in the beacon chain. Only after you update the withdrawal credentials, will the rewards be withdrawn to the withdrawal address.

3. Do I have to do anything to get my rewards after I update the withdrawal credentials to type 0x01?

   No. The "validator sweep" occurs automatically and you can expect to receive the rewards every n days, more information here.

   Figure below summarizes partial withdrawals.