🥩〕staking

[blazing path]

yeah... and I'm here to gather info to make an educated decision don't worry

[tulip folio]

best I've come up with so far is that revenue would have to be ~ $100million/mo to beat SLP yield.

[blazing path]

just learning from you all and I'm beginning to think a short SLP stake then another short one then another.... until something releases makes sense.

[cyan rampart]

It depends on how high revenue is, which no one can reasonably predict. There are ballpark estimates people have made. If there were no revenue for the next year, SLP would completely outperform an ILV only, as 80% of the yield is allocated to that pool.

If revenue were billions of dollars, ILV would completely outperform an SLP stake, as 100% of the value of an ILV only stake is eligible for revdis.

It's a really tricky time to decide which is the best choice. For me, it comes down to how soon I think the game will launch (and generate revenue), and how much revenue I think it will generate before my 12 month lock is finished.

There's also the option to choose shorter lock periods if you want to be more flexible.

[blazing path]

I know your point on falling APR.... but 450% to 80% in one year means by the time a 12 month SLP stake is done, APR may be 20%... so Revdis might not have as much to catch up.

[tulip folio]

Again the APR isn't falling that much. It's a BAD number.

[blazing path]

exactly.... I think it's also a tricky time to decide.... but I have a bag of ETH and a bag of ILV lol

[tulip folio]

you're getting just as much ILV in rewards, which will generate even more revdis than sitting on ILV.

If I lock in 1 SLP today at 85% APR and ILV goes up to $1000 in a year, my APR I'm getting TODAY is 1277.60%

[blazing path]

It's hard for me to convert and average yield of 40% to ILV from my dollar value... I'll need to look at that.

[blazing path]

but over that year your average APR will be 40% right? If APR continues to fall...

[cyan rampart]

Between dilution and the decreasing APR, it's fallen by quite a bit. I've like 4-5x'd my SLP position and it's earning about the same daily # of ILV it was 6-7 months ago.

Unlocks (and the dilution caused by more supply entering the pool) affected the APR a lot more than the 3% decrease per fortnight.

[blazing path]

I appreciate the comments, I'm just arguing "Intellectually" but I'd ask, in all of your comments you're assuming ILV price will rise in 12 months...it might be exaclty what it is today or lower.

[blazing path]

yes

[tulip folio]

Dilution: SLP has been very flat as far as staking goes. It's been in the 90ks for a long time.
I don't think it's accurate that you've 4-5x'd and it's fallen that much. Please look again. I was getting like 0.22 (Around March), my SLP hasn't gone up that much and I'm still getting 0.13

[blazing path]

I think Blickter's and mine were in SLP staking maybe 1.5 years ago.... so it's been a big fall

My first stake might have even been 600%, I forget... but I was getting a ton of ILV back then and very little now.

too bad price fell 95% lol

regardless, I think I know what I want to do now and I appreciate all of the commenting, this is the best place to learn I think.

[tulip folio]

I know I've been staked since July 2021 (only a little at first). It totally has fallen a lot since then, but my point is the APR today is not accurate unless you think ILV will stay this price forever or stay lower forever.

[cyan rampart]

It might have been a little longer than 6-7 months, but I'm in the same range now as I was coming into spring. I'm about 20% higher daily earned than I was then.

[blazing path]

Yeah, so my thinking is conservative... I am assuming ILV will remain below $100 for a year...if it goes up....wonderful you know?

[cyan rampart]

I never got in on the 600-700% APR, my first staking deposits were ILV only (fortunately they weren't 12 month locks, so I fixed that as soon as they expired).

[tulip folio]

Right but APR is a horrible way to look at your return in ILV staking, it's literally meaningless.
You want to figure how much ILV per day each SLP earns, and figure out the way to get the most ILV tokens for the least $. As of right now it's a tug of war between how soon you think revdis will be REALLY high.
And barring that scenario SLP is by default the winner of the way to get the most tokens, unless you think the price will drop faster than it's dropping now.

[cyan rampart]

The ILV only pool was something like 70 or 80 % when I first staked though, which seemed pretty good haha

[blazing path]

Well it looks at it regardless of price… it’s how much ILV you’ll get back, not how many dollars right? The goal is max ILV regardless of price, so to me the APR is important disregarding price

[cyan rampart]

It's a bad metric for the SLP pool, but it makes sense for the ILV only pool. You're right that it doesn't account for potential future price increases, but there's not a fair way to account for that kind of change since everyone's outlook could be different.

I do agree that looking at your numeric ILV/time is a better way to assess the SLP.

[blazing path]

I completely agree though the big value generator is token price in the long run along with number of tokens of course

[blazing path]

Yeah I see that… it’s harder to see value in the SLP pool from APR

You inherently lose % because it’s not all ILV

[magic plover]

here's a pic that I took during the good old days:

[blazing path]

Nice. I never saw it that high!

[hexed edge]

Anyone mind helping me stake. I created the ILV/ETH pair on sushi swap. Doesn't look like I staked the pair on sushi but when I go to stake on ILV site no pair is showing to stake

[cunning perch]

After receiving SLP by adding ETH and ILV in Sushi Liquidity Pool, make sure to add SLP address to your wallet ( #🔗〕helpful-links ) and then go to ILV staking website, and stake SLP.

[woven ibex]

Providing liquidity is done via an ILV/ETH Pool on SushiSwap and requires multiple steps:

1. Buy ILV and ETH
2. After approving the Sushi contract you stake a 50/50 value ratio of ETH and ILV
3. You receive SLP tokens. (To see them, add the SLP contract address to your wallet)
4. Stake the SLP tokens through the Illuvium Staking App and set your lock period.

See #🔗〕helpful-links for official links.

[hexed edge]

Mission complete ilv/eth staked ty guys!!

[hot lynx]

12 mth lock 🔐

[tulip folio]

All right guys everyone stake your SLP and tank the APR for this guy, show him some welcome love
(welcome to the community)

[hexed edge]

Sharing is caring 😉

[plain thorn]

how often are you guys claiming ILV rewards?

[gloomy gazelle]

There’s a few views on this. But I usually claim my rewards when the gas cost of the claim transaction costs less than the amount of ILV being claimed will earn in the time period before I’d make my next claim. So it’s not very often.

[plain thorn]

How do you work out what the ILV being claimed will earn in a given time period?

[gloomy gazelle]

So you take the APR in the ILV only pool and multiply the number of ILV that you are going to claim and then divide all that by 365. That gives me an estimate of how much ILV my claimed tokens will earn each day. That helps me estimate how often I’ll want to claim.

[plain thorn]

That makes sense, thanks heaps!

[gloomy gazelle]

10 claimed ILV would earn like $60 per year. That’s not very much. So that’d take awhile between claims for that few.

[plain thorn]

Yeah that's true. The other factor to consider I suppose is the 12 month vesting period. Plus the cost of the token itself!

[gloomy gazelle]

Yeah. But if you wanted more ILV… instead of paying the gas fees you could just buy ILV and save money.

[faint shadow]

Here's my tip.
I look at the value in SLP as ETH. all of it.
And it's generating me ILV at an impressive rate.

If you just see the SLP portion as a basket of value, let's say worth X ETH, then the decision becomes clearer.

And if ILV does really well versus ETH over the next two or three years, then rather than worrying about impermanent loss on that ILV, I'd just be getting some bonus extra ETH.

And the beauty of it of course is that the ILV earned further compounds in the ILV pool.

[strange wadi]

When it heads back up I’ll wait till the ratio is the same as when I went in. Then consider selling, but probably will hodl forever.

[coral pike]

IMO NFA DYOR there is also another option discussed here... read down #🥩〕staking message

[strange wadi]

I saw that when you posted it and completely agree. But i wouldn’t be surprised if down the track changes were made to continue incentivising the SLP pool for liquidity. See a comment from Deraji in the ideas channel. #1031966870913437807 message

[blazing path]

Makes sense to me…. I hadn’t thought of SLP pool that way. Only thing not considered there is revdis. But with the game not out and revenue growing with time, another 12 month lock probably isn’t the worst thing IMO…. Not to mention you do get revdis on half your investment so even if revenue was high that’s great and you still get 50% of rewards while SLP is staked so I still see SLP as the better choice…. It is a personal decision though too…. Half of me wants to be like …. ILV…. All ILV … stake and forget… buy more… stake and forget

[sturdy orchid]

One question. What is the frequency at which the vault triggers and distributes the ILV to stakers? Or is it a certain amount that triggers it? Thanks

[gloomy gazelle]

It is based on a few factors that cause things to trigger. I’ll find the IIP with the info in #📰〕governance-news

Here’s the approved proposal. It has the formulas. #📰〕governance-news message

These two wallets have the relevant funds. #🥩〕staking message
The stuff on IMX would need to be moved from IMX to ethereum main net and then moved to the revdis/vault address to then start the distribution process. But it’s not really enough eth yet.

[shell peak]

If a lock expires, do you still earn or must you re-lock again?

[tropic knoll]

you still earn at the weight you locked in at

[shell peak]

Ah ok good to know. Ty

[steady beacon]

I vested SILV for 1 year and just withdrew it from the pool. How do i see the amount i withdrew on metamask?

i vested SLP i mean

[strange wadi]

Do you have the SLP contract in your MetaMask?

[strange wadi]

The info you need might be in helpful links #🔗〕helpful-links message

[candid kettle]

add LP token contract in MM

!contract

[woven ibex]

ILV Token: 0x767fe9edc9e0df98e07454847909b5e959d7ca0e
ETH/ILV SLP Token: 0x6a091a3406e0073c3cd6340122143009adac0eda
sILV2 Token: 0x7E77dCb127F99ECe88230a64Db8d595F31F1b068

[dreamy elbow]

How long one Epoch spend in staking?

[dreamy elbow]

nw, i got it

[gloomy gazelle]

2 weeks. A fortnight

[dull creek]

Stupid question, but wjat is Illuvium coin used for?

[woven ibex]

ILV is not needed for gameplay in any way. Instead, it has three main functions:

Governance:
Together, we have the power to shape the future of Illuvium through our community collaboration on game improvement proposals and electing the initial model of governance, the Illuvinati Council.

Liquidity Mining:
Here, you will gain more ILV (or sILV). Additional ILV will increase your voting power in governance & increase your share of vault distributions.

Vault Distributions:
When you stake ILV, you share in Illuvium's success and earn a passive income of additional ILV, funded through in-game purchases and fees. Vault distributions will only be available from sales once the game and Illuvidex launch.

[dull creek]

Can we still get in on staking and reap the benefits?

[tall viper]

Yes

[void crescent]

Staking dashboard having some problems?? Showing network error... no price, no staking value

[ember ginkgo]

Works fine for me. Try clearing your browser cache

[sterile osprey]

How much is the staking apr?

[cyan rampart]

It changes over time, but you can always check the current value on the staking website via #🔗〕helpful-links

The current APR for a 12 month lock is 10% for the ILV only pool, and 76% for the SLP pool.

[kindred moth]

Short question just to make sure I got it right:
After my initial 1 year staking (vesting is now running out for my first investment) the rewards will keep coming, until I withdraw it. Is that correct?

[final steppe]

That is correct 🙂

You'll continue to earn at the same 2.0 token weight (if you locked for 1 year).

For those who lock for a shorter period of time, they will continue to earn at the lower token weight they initially had. If they want a higher token weight, they would need to withdraw and restake/lock for a year to get the 2.0 weight, for example.

[kindred moth]

perfect, thanks!

[elder parcel]

Anybody else having issues claiming ILV rewards? I had failed transactions just now.

Actually, the error message was wrong... it successfully claimed them but threw an error anyway.

[cyan rampart]

Weird. Generally speaking, most random errors can be resolved by making sure web browser is up to date, metamask is up to date, clearing crowser history, and sometimes resetting wallet approvals (though I usually leave that step for last).

[bronze hazel]

Hey I am new to this market I am going to staking my ILV coin anyone help me I have some good amount of coin and wants to stake all of them from binance to ILV site Pls guide me how to do that

Binance offering me only 0.5 Arp pls guide me how i can get Maximum return from staking all coin

[gloomy gazelle]

Do not trust anyone that sends you a direct message. I’ll share some stuff here.

[bronze hazel]

Thank

[gloomy gazelle]

This is a “how to” stake article. https://medium.com/illuvium/28-everything-you-need-to-know-about-staking-ilv-6669594b2fac

This article shares info about how staking works and can help inform decisions. #🥩〕staking message

!staking

[woven ibex]

When holding ILV, staking is a way to gain additional rewards from yield farming and revenue distribution. The process for staking is the following:

• Acquire either ILV or Sushi LP tokens.
• Go to the official Staking App.
• Enter the right pool according to the tokens you acquired.
• Decide your lock duration. The longer the lock, the higher the weight.
• After approving the contract, confirm the staking of the desired tokens.

[kindred moth]

does someone know the current ratio for the sushi lp token? like how many ilv /eth is needed?

[candid kettle]

#814313779696238642 message

[kindred moth]

thank you!

[candid kettle]

👍

[elder parcel]

Not sure, but I suspect it was because I had been using a VPN and then stopped it a short time before claiming rewards. Anyway, it's all good now. Thanks.

[inner spindle]

I have v1 ILV that is unlocked. Is that still earning APR and getting revdis or do I need to re-stake for that?

[brisk surge]

It continues earning until you withdraw. No need to re-stake.

[inner spindle]

Thank you! Is that the same for non v1 as well?

[brisk surge]

Yep!

[glossy crest]

Hi looks like my 1 year staking is unlocked. Do I still get ILV as rewards or must I withdraw and restake again?

[gloomy gazelle]

It keeps earning until you withdraw it

[glossy crest]

What is the percentage ?

[gloomy gazelle]

Whatever is displayed in the staking tab for new deposits. It's always been earning at the rate displayed on the staking tab. It's a variable rate

Do not trust anyone that sends you a direct message.

[glossy crest]

Staking tab is 80% apy for ILV/ETH pool but when I click onto it, it says I must choose to stake between 1 month to 12 months. However, on my vesting tab it says I can withdraw.

[gloomy gazelle]

Yes. It maintains it's weight and keeps earning after the lockup runs out.

[glossy crest]

Ok thanks. But is there a v2? On my side tab shows v1

[gloomy gazelle]

Did you do the upgrade to v2? There should be a message about that if you didn't

[glossy crest]

How do I know if I my current staking is v1 or v2? I’m not sure if I had upgraded

[gloomy gazelle]

The old deposits in the vesting tab will still say v1. That is ok

[gloomy gazelle]

Is there anything in the vesting tab that does NOT say v1?

[glossy crest]

Mostly all says v1 except for the one that is left with 150 days of vesting didn’t show v1

[gloomy gazelle]

So you are upgraded to v2

You can leave the old deposits in v1 it's fine. There would be very little changed if you withdrew from v1 and then made a new deposit in v2. It would just end up being locked up again for 12 more months. You do NOT need to do that.

[glossy crest]

Oh ok. I am still receiving the notification from the website to upgrade. Just to make sure.

[gloomy gazelle]

When you upgraded to v2 your v1 deposits became readable by the v2 contracts.

[glossy crest]

I see. Thanks so I dun have to do anything right now?

[gloomy gazelle]

If you did not upgrade then you would not have any rewards earned since march 2022

[gloomy gazelle]

Correct. You can leave things as is.

[glossy crest]

Cool. It means I’ve upgraded cos I somehow still earning ILVs. Thanks for the prompt reply. Appreciate it. Cheers mate

[wooden crag]

Ok ... Very basic question. I lock up my slp for 12 months. The rewards I get regular. Are they locked or can I restake them ( say on a weekly basis )

[ember ginkgo]

!claim

[woven ibex]

Rewards from staking have to be manually claimed and GAS fees for those transactions have to be paid:

• When you stake ILV yield farming rewards start piling up for you
• You claim those rewards whenever you deem the pile to be big enough to justify gas fees
• If you claim sILV2 you have it unlocked right away (sILV2 is only usable in game as a substitute currency for ETH outside the marketplace and the Leviathan Arena)
• If you claim ILV then that batch of ILV gets locked for 12 months and automatically staked in the ILV pool with a token weight of 2.0 for compounding effect
• New rewards start piling up....rinse and repeat

NB: ILV paid out as part of Illuvium’s Revenue Distribution have to be claimed as well but are not subject to a locking period.

[wooden crag]

Perfect explanation thanks!

[gloomy gazelle]

@exotic hollow APR stands for Annual Percentage Rate. So 1 ILV staked for 1 year would have earned about 0.09 ILV or 9% APR. Except APR is not locked in it’s variable. I’ll share some more info…

APR for yield farm staking in the pools is variable, trending downwards.

Eventually the APR will go to zero. Because yield farming will be over. But that’s like 2 years from now. Before then it can technically go as close to zero as possible. But it can also technically go up. It’s variable. Here’s a little more of an explanation.

The rewards calculator determines current the usd value of your staked SLP and it determines the total usd value of all the staked SLP (taking into account any multipliers from locking such as 2x for 52 weeks). Then it determines what your percentage of the pool is. Then it distributes to you that percentage of the ILV rewards that are getting paid out during that block to the SLP pool (as part of the 2 week fortnight). The UI then calculates the USD value of the ILV rewards and is then able to display the APR. It’s a bit complex. But there are spreadsheets pinned in here that calculate it all for you.
However, the APR today is not guaranteed to be the same as tomorrow because in reality the value of the ILV tokens and the value of the SLP tokens and the total value in the pool (and therefore your percentage of the pool) WILL change almost constantly. Therefore the APR is variable.

APY is calculated using that same APR but adding what it would earn if compounded by claiming the rewards as ILV. When claimed as ILV those rewards are essentially staked in the ILV only pool and locked for 12 months so they have they full 2x weight. The APR in the ILV only pool does not vary as highly as the SLP pool because the rewards (ILV) are the same as the thing that was deposited (ILV).

The image below shows how many ILV is being distributed over time. We are already more than 1 year into this chart.

[exotic hollow]

so is it worth it right now to stake ?

because of the low price of ILV

[gloomy gazelle]

Staking is better than holding it. Because you get interest on your tokens. But if you want to actively trade it then don’t stake it. Because it would be Locked up.

[exotic hollow]

so if i stake 1ILV right now I am gonna receive usd every 15days right?

[gloomy gazelle]

No.

You get more ILV as rewards gradually building up a tiny bit every block (like 15 seconds). You would then need to CLAIM your rewards if you ever wanted them. But it’s important to note that rewards claimed as ILV are locked as vesting for 12 months from the moment they are claimed.

more info on claiming here…

[woven ibex]

Rewards from staking have to be manually claimed and GAS fees for those transactions have to be paid:

• When you stake ILV yield farming rewards start piling up for you
• You claim those rewards whenever you deem the pile to be big enough to justify gas fees
• If you claim sILV2 you have it unlocked right away (sILV2 is only usable in game as a substitute currency for ETH outside the marketplace and the Leviathan Arena)
• If you claim ILV then that batch of ILV gets locked for 12 months and automatically staked in the ILV pool with a token weight of 2.0 for compounding effect
• New rewards start piling up....rinse and repeat

NB: ILV paid out as part of Illuvium’s Revenue Distribution have to be claimed as well but are not subject to a locking period.

[gloomy gazelle]

sILV2 while unlocked and usable is not like cash. It’s more like a gift card. Very limited use.

[exotic hollow]

So I cant claim money at all if I stake 1 ILV for example for 12 months?

[gloomy gazelle]

You can claim pending rewards (those earned already) immediately as sILV2. sILV2 is an erc20 token and it could be sold for something more useful… like eth or usdc. But only if there’s a way to make that trade somewhere. There is no guarantee that there will be a place to sell sILV2. However, At the moment there is an eth/sILV2 pool on uniswap. It has consistently traded at a value lower than ILV. Which makes sense. It’s only utility is as a gift card that has value equal to ILV value at the time of its use.

https://www.dextools.io/app/en/ether/pair-explorer/0xef9a9283440b2d7efb9c7dcc17e94e234d5ccccd

[blazing path]

Wow… sILV2 is a relatively high % of ILV right now I think… it’s been closer to 25% the last 6 months hasn’t it?

[graceful magnet]

hey there, little question concerning staking

on the shot bellow we can see my first stakes can be withdrawed as I locked them 1 year, which is now over.
Are those staking (pure stake + LPing) still active ?

We can see on the 2 following that some claims are coming to unlocking.
Are they staking during this year or not ?

[cunning perch]

As long as you don't withdraw, they still receive Yield and RevDis (if any)

[graceful magnet]

COOL ! so it means that I'm free to use those ILV like I want, AND I still get rewards ! 🙂
Is the % API the highest as I locked them for the longest period ? (1 year)

Are the vesting token considered like staked token during the locked year ?

[cunning perch]

I didn't understand the part "I'm free to use those ILV like I want, AND I still get rewards". If you withdraw, then they won't receive anything. Literally, whatever is in your wallet and not staked, won't receive anything.

APY is the highest when you lock for 1 year, yeah. And it drops as more ppl join and reward distribution also drops every fortnight.

Whatever you see under vesting, whether locked or unlocked, wil receive Yield and RevDis (if any).

[graceful magnet]

I just wanted to say I'm not locked anymore 🙂
Ofc if I withdraw, i'm loosing my rewards 🙂

Concerning APY, my question was : I locked for 1 year, it means I had the greatest APY (longest locked period).
Now that my tokens are free to withdraw, is it still the highest rate that applies for those unlocked ?

Ok for the vesting tokens. It means that when you claim your rewards (that will be locked 1 year), they're active as staking token during this year ?

[cunning perch]

Sure. Since you locked for 1 year and got the weight X2, even if your stake is unlocked it still keeps the weight, unless withdrawn.

Yeah when you claim and your tokens get locked for 1 year, they also count towrds getting Yield and RevDis, same as your 1-year-locked Stake. 🙂

[graceful magnet]

thanks for your time, that's all clear 🙂

Weight x2 is all that matters after all 🙂

[cunning perch]

[brisk surge]

Not sure if this has been addressed already, but I've been wondering whether to put an iip forward, will we have a way to convert our revdis to fiat using the same on-ramps we use to buy eth and SILV2 in the game? It's super clunky when I buy ILV from an Australian exchange, send it to my personal wallet (wasting eth) then stake it (wasting eth) and then reverse order when cashing in on my $3 of revdis from the land sale. Nah that last sentence was gratuitous, but the eth is killing me and it's not under illuviums control I know. I just want to get money into and out of my wallet.

*emphasis on out of. Please DM me for my seed phrase

[blissful badge]

Wouldn’t that then be very complex with all of the different currencies?

[brisk surge]

I mean, it would be the same as onramping if I'm not mistaken.

Just something connected to some sort of exchange, even if it converts straight to euros or USD

I envision my life consisting of: log in, withdraw revdis, transfer a billion dollars to my bank account. Spend the rest of the year figuring out how to hide it from tax man. Continue making YouTube shorts. Rinse. Repeat

[blissful badge]

On and off ramps are a pain for sure. Continually a problem for me aswell

[brisk surge]

Yeah especially when eth hits $5k again and it costs me $35 to withdraw $1

[blissful badge]

Crypto card cough cough

[brisk surge]

Mind. Blown. I shall forever think of you as a benefactor ser.

[blissful badge]

Ugh. Mam. You know me on Twitter. Dam my masculine pfp.

[brisk surge]

Does everyone in here have slowmode turned on? Because I mean, the last message before I popped in today was 5 days ago.

[blissful badge]

I’m a girl Lynx

[brisk surge]

Everyone is a ser on here

[blissful badge]

Yes mods like a snooze sometimes

[brisk surge]

But actually yes that is information I did not have before. Lovely to meet you Splendor. My name's Crystal. Oh do mods get notified of everything everywhere in all channels. That would be so annoying.

[blissful badge]

Yes so they can check that the children are playing nice

[brisk surge]

Right.

[blissful badge]

I’m Holly on twitter

[brisk surge]

Well that changed my entire outlook.

OHHHH you're holly! We have a mutual friend, Daniel the Kiwi. He's a legend. I've spoken to him on video for hours now in total. Such a great dude.

[blissful badge]

Nz yes

He lives not far from me and another mutual friend

[brisk surge]

Yeah. That's cool. We should chat one day, the 3 of us. Looks like you've started a very successful guild

[blissful badge]

I’m so lucky to have them close by. Lynx isn’t my guild. It’s Chris’s from illuvium. Wild fire belongs to scoriox now

I’m just a girl in the world

[brisk surge]

Ahhh k. Chris is the support manager yeah? I like him. He seems like a good guy.

[blissful badge]

He’s wonderful

[brisk surge]

I mean, do we need guilds tho?

[blissful badge]

Daniel said he’s been talking to you

[brisk surge]

Yeah I've been sharing what I know about premiere Pro. Including my login details cos he needed to get a feel for it without wasting the $

[blissful badge]

I love the guilds. They are more specific to certain types of play ect. A quieter space to make closer friendships

[brisk surge]

Yeah true. I find that most of my relationships in this community come from twitter

[blissful badge]

Yes I lent him some streaming gear for the same reason

[brisk surge]

And YouTube obviously . Oh you sent him gear? That's awesome. Very generous. I hope he finds his feet soon. I'll message him and remind him I'm available 247 to help him. He's busy and doesn't have as much time as me

[blissful badge]

Dmed

[brisk surge]

Change your username on twitter to Holly Splendor. Because that will make it convenient for me.

[blissful badge]

I like the anonymity

[brisk surge]

Well. Then you are a sane and socially responsible human being and I could never relate to you on that.

[blissful badge]

That’s ok. I celebrate 🎉 peoples differences. I have crazy friends too. Lol

[gloomy gazelle]

We don’t get pinged. But we do often try to read #🥩〕staking and the support channels to make sure nothing gets buried.

Y’all blew this chat up.

[brisk surge]

sorry! haha

I mean it had good intentions. I was interested in an iip for fiat. I'm sure it's already been thoroughly thought through

[gloomy gazelle]

Off ramps are usually harder to come by.

[brisk surge]

yeah. It's hopefully something that will evolve with the space.

Everyone will start having the same problem.

[gloomy gazelle]

I assume it’d end up being something that some other company is gonna need to build and figure out how to profit from and then implement while navigating the many regulations

[blissful badge]

Sorry we ventured off topic a bit.

[gloomy gazelle]

Meh. It had stopped by the time I got here.

[blissful badge]

While the cats away the mice 🐁 play

[boreal pier]

If I staked 1ETH/ILV pair how much would I be making a month?

[swift iris]

At the moment that earns a bit under .02 ILV daily if staked at 2.0 weight, and this will decrease over time as yields come down

[boreal pier]

Are the earned tokens automatically compounded?

If not claimed?

[quick dirge]

nope, we have to claim them 😦

[woven ibex]

Rewards from staking have to be manually claimed and GAS fees for those transactions have to be paid:

• When you stake ILV yield farming rewards start piling up for you
• You claim those rewards whenever you deem the pile to be big enough to justify gas fees
• If you claim sILV2 you have it unlocked right away (sILV2 is only usable in game as a substitute currency for ETH outside the marketplace and the Leviathan Arena)
• If you claim ILV then that batch of ILV gets locked for 12 months and automatically staked in the ILV pool with a token weight of 2.0 for compounding effect
• New rewards start piling up....rinse and repeat

NB: ILV paid out as part of Illuvium’s Revenue Distribution have to be claimed as well but are not subject to a locking period.

[brisk surge]

Brilliant answer, I had to read that a few times to understand the gaming credit idea to the DAO

[cyan rampart]

Yeah at peak ILV price it was a spooky amount of outstanding value owed to sILV2 holders haha

[brisk surge]

but yes, major events like land sale, and potentially illuvitars, and other upcoming things like that should be great to kick start the burning, and perhaps review these mechanics in the future after yield program ends. I'm assuming that the "spending" of SILV2 is in itself something that is then burned? ie that SILV doesn't exist anymore?

SILV2, the synthetic token, burned, I mean. I'm on slow mode. gah

[cyan rampart]

Correct, sILV2 is burned when it's spent (not like, automatically or immediately, at least not for the land sale, but it DOES get burned). So the land sale was great for reducing the amount outstanding, even though it didn't generate near as much revdis as it could have if sILV2 spending wasn't a thing. It was (IIRC) on the order of 80-90% sILV2 that was used to purchase land (like, 80-90% of the total value of the sale).

[brisk surge]

Having gaming credit owed to the DAO, at least that doesn't necessarily cost anything, outside of opportunity cost

I don't resent the land sale raking in most of its $$ in the form of SILV. It's a justifiable reward for all those guys who bought and hoddled

[cyan rampart]

I think the only reasonable thing that can be done now, is to let sILV2 play out until the end of yield farm, and not introduce new sources for it. That is just my opinion though, there are certainly people who would disagree. I don't see any reason to make ILV long term deflationary. There were a few proposals back a year or more discussing the possiblity of making revdis and/or in-game rewards claimable as sILV2, which I think are the only ways you could reasonably introduce more sILV2 from a source other than yield rewards.

Yeah nothing wrong with people using sILV2 for the land sale, it was just people playing by the rules. I'm just wary of the complications it could cause if someone hoards a bunch away and unleashes it on the market (at a high ILV price). It could potentially dry up ETH revenue for some period of time, which could cause cascading issues for Treasury etc. OFC that's like, the doomy-est scenario, but IMO there's not enough upside to adding more sources.

[gloomy gazelle]

Yeah. It’s very possible and troublesome though.

[glossy crest]

Hi anyone know what is the value of one slp now?

[craggy field]

SLP is 680$ currently
Check Zerion if you want to know what it's made up of:
app.zerion.io/explore/asset/SLP-0x6a091a3406e0073c3cd6340122143009adac0eda

[glossy crest]

Ok thx, where can I swap slp to ilv

[craggy field]

you do understand that SLP is Sushi liquidity pool tokens?

And you can extract liquidity after you have added that on Sushiswap.

[glossy crest]

Means I can swap them on sushiswap?

[coral pike]

I agree 💯 . I am no longer for continuing sliv-2 and also don't think ILV needs to be deflationary after the Yield has ended . I would like to see a bunch of sinks to get rid of as much SILV-2 as possible as quick as possible and then do as Aaron envisions (assuming his opinion on this matter has not changed).

[cunning perch]

You'll have to interact with Sushiswap to get SLP. ⬇️

You add ILV and ETH to Sushi liquidity pool and then receive SLP. Make sure to add the address to your wallet #🔗〕helpful-links

[glossy crest]

How and where can I swap SLP?

[glossy crest]

I have SLP, I wish to swap them, how do I do it?

[cunning perch]

you mean you want to change it to ILV and ETH?

[glossy crest]

yes, where do I change it

[cunning perch]

Follow this #🥩〕staking message

[glossy crest]

Ok got it thx u

[cursive yew]

whats current staking aprs? :)

[cursive yew]

Thank you fraggy

[loud quail]

how can I tell I'm in the right ILV/ETH stake pool? I thought I switched it when prompted ages ago but now I'm feeling unsure

[blissful badge]

I know I should know this but I don’t. With voting on iip do you have to have unstaked Ilv in wallet or can it all be staked?

[candid kettle]

The stakers vote on the council members and the council votes on the proposals, in the stakers vote the staked ILV is counted, as well as the ILV in the staked LP token

[candid kettle]

in the "Vesting" tab of the stake website you can see all your positions within the stake contract

[blissful badge]

Ah. Got it. Thanks

[tiny plover]

hi how can I add illuvium token on metamsk so I can send them from binance and stake them?

do we put Token contract address

[cunning perch]

YOu have to add the address manually yeah

you can find it in #🔗〕helpful-links

[subtle spruce]

@cunning perch are we able to migrate unlocked stake to new wallet now ?

[gloomy gazelle]

I’m opening a private thread.

[coral pike]

Please do this only in #👑〕bot-commands

[tall spire]

Is the GameStop wallet able to be used for staking?

[pure eagle]

I don't think so. IMO Meta Mask is the best choice for staking

[meager prairie]

I'm sure it's been talked about, but...
I staked slp pool over a year ago. 14 ILV with paired eth. Looks like the down market brought a huge variable % between the 2, and considering impermanent loss, if I pulled out now I would be withdrawing 26 ILV and eth. Which I could probably restake in the ILV only pool with a year lock and gain on that.
Looks like I have some math.ing to do.

Any insight from anyone to add upon my thoughts? am I missing something important to consider?

[gloomy gazelle]

You do not need to withdraw. You could leave it staked and keep earning at the eth/ILV rate.

But it’s your call.

[meager prairie]

Thanks... sounds easiest, plus most advantageous for sure!!! I'm just trying to wrap my head around the impermanent loss scenarios and implications. Seems like there is a play to be made and I kinda want to figure it out and know what it is. Highly doubt I'd make a move either way, but kinda fun to think about

[versed coral]

Definitely the easiest way to keep your SLP staked and let them continue to earn

[meager prairie]

Thank you for your thoughts!

[tall spire]

SLP?

[versed coral]

Sushi liquidity pool. Basically the ILV/ETH Pool

[glossy niche]

Can I stake 2 ilv?

[cyan rampart]

You can stake any amount of ILV you want.

[glossy niche]

Thx

[stuck skiff]

Current thoughts on adding to staking pool now? SLP vs ILV…with revdis from illuvitars etc coming soon

[versed coral]

I personally like to stake SLP for the duration so that it will be unlocked by end of 2023. I believe at that time the revDis should be outperforming SLP yield. But that’s just my approach. Especially with the ongoing discussion about a potential revDis “skip” on illuvitars to raise funds for the DAO

[gloomy gazelle]

Revdis is not something I consider in the short term.

[coral pike]

NFA DYOR IMO I already have a SLP stake that wholes my primary principle . For a while now all my additional entry's have been in the ILV pool

[stuck skiff]

Whats this illuvitars revdis skip. Sounds like a terrible idea

[elder dawn]

They key is ensuring project runway and potentially avoiding a capital raise in the current environment. Expect a community survey soon to gauge acceptance.

[gloomy gazelle]

At most it would be a few dollars less per token for stakers. That does not seem very significant to me personally. But if it were $0.50-$3.00 less per token for stakers than that could mean something like $5m-$20m (or even more) in the war chest.

[versed coral]

Exactly. The potential few dollars which the stakers would receive this time is insignificant in my opinion compared to the big picture to ensure the runway of the project. Of course it makes sense to first gauge the community sentiment regarding this, thanks for the upcoming survey @elder dawn. After that, an IIP needs to be defined and accepted anyway. So nothing is set to stone yet

[stuck skiff]

Ok cool sounds logical

[whole nexus]

Hi Deraji, where can i find the spreedsheat where we can evaluate the staking rewards etc ? Thank you

[whole nexus]

I'm interested by this topic, we are finally able to move our staked SLP and ILV weight 2 on another wallet ? I invested initially without a ledger and they are locked into a non secured metamask...

[meager hemlock]

hello, I have withdrawn SLP token, I can see it my metamask, but I cannot remove liquidity in sushi, just doesnt work. Can some mod help me?

[cyan rampart]

DMs are scams. What part isn't working for you on Sushi? The transaction won't go through, or you can't find the liquidity tab?

[meager hemlock]

this is what i get after doing "remove part"

and this was the address where i changed "add" to "remove"

[cunning perch]

When you connect your wallet to Sushi and approve the SLP you have in your wallet you should be able to chose how much of it you wanna turn back to ETH/ILV

[main herald]

did sushi change something? cant find the liquidity tab to add for slp

found it in the old app

[strange pond]

Does vesting begin at the end of each epoch when rewards are accrued, or does it only begin once I claim the rewards?

[regal marten]

it begins when you claim the rewards.

[pure eagle]

!claim

[woven ibex]

Rewards from staking have to be manually claimed and GAS fees for those transactions have to be paid:

• When you stake ILV yield farming rewards start piling up for you
• You claim those rewards whenever you deem the pile to be big enough to justify gas fees
• If you claim sILV2 you have it unlocked right away (sILV2 is only usable in game as a substitute currency for ETH outside the marketplace and the Leviathan Arena)
• If you claim ILV then that batch of ILV gets locked for 12 months and automatically staked in the ILV pool with a token weight of 2.0 for compounding effect
• New rewards start piling up....rinse and repeat

NB: ILV paid out as part of Illuvium’s Revenue Distribution have to be claimed as well but are not subject to a locking period.

[stuck skiff]

OK, made the decision. Sticking with SLP over ILV...just added another 7.7 SLP. Seems like such a bargain vs last december

[wispy sandal]

How much ilv is that

[blazing path]

I just did the same a week ago… sadly it’s fallen a bit since…. But I think SLP is still the way to go…

[swift iris]

Agreed

[gloomy gazelle]

Close to 42 ILV plus the equal value of eth.

[stuck skiff]

82

[snow hinge]

Anyone having issues claiming ILV staking rewards? I've had it "fail" twice, with the following error:

[snow hinge]

" Warning! Error encountered during contract execution [execution reverted] 😦 "

[gentle pumice]

I claimed some hours ago, no problem

[onyx flower]

SLP at 1/25 the price and rewards still paying out at 1/3 .. easy buy

[blazing path]

Good point. My only concern is with the market price. ETH needs to rebound… I have confidence it will someday, at least with the BTC halving

[gloomy gazelle]

Usually it’s because a transaction takes too long. Or because the claim already went through. Whatever it is it often fixes itself. But let us know if you still have an error. We could open a private thread.

Remember, no one legit will send you a direct message. Do not trust anyone in your DMs. Mods are often impersonated.

[abstract zinc]

Anyone here to help me

who do i speak to to report some issues
I claimed my ILV and now have less in my total wallet
do not understand

[pure eagle]

Hello, I will open a private thread to help you with your issue. Be ware of DM's that 99% are scam

[abstract zinc]

Sorry i was being dumb

all good no problems✌️

[pure eagle]

No worries, glad everything worked out 👍

[waxen vortex]

gn

[regal marten]

@sly temple on the dashboard : i'm a bit frustrated on it to be honest, because I started it with one specific question I wanted answered. i wanted to know for how long active stakes were being staked for. I used to have that info, but sadly since staking v2 it got a lot harder to connect staking events with unstaking events which is essential in this matter. Maybe I'll get there one day... But that being said, I hope the graphs that I ended up with are still valuable to some people!

[sly temple]

I use it weekley ,is the information not available or just really difficult to find? i know @steady trellis also digs through these.Maybe you guys can coop?

[regal marten]

Yeah, maybe! it's a bit technical, but the main issue is that with staking v2 the staking "index" for every new stake re-started from zero. and it's hard to connect the unstake event with the initial stake event. And the stake event matters, because we need to know if the stake was v1 or v2 because the indexing changed... Anyway, I revisit the problem from time to time, we'll get there eventually 🙂

[sly temple]

Could all that data from Dune be transfered to a website?

[regal marten]

Every graph can be embedded using a iframe (like this : dune.com/embeds/980292/1698094/58512dc2-c5a5-4984-95f6-925b05f5f316)
if you pay you can remove the dune references. you also get csv downloads.

[sly temple]

i dont know anything about Web desgin or such,but would liked to see someone build out a Illuvium site with these kinda of data points for staking and onchain data(mostley Staking)

[regal marten]

Yeah, maybe? Not sure.. Anyway, a site like that would require different tech I think, using thegraph.com. I noticed most statistics (or defi frontends for that matter) use thegraph for most of their blockchain stats.

[sly temple]

Ahh ok,thank you

[regal marten]

No prob! I'm open to the idea, just think we should use the right tech.

[abstract wagon]

Hey ho
do I have to withdraw after the unlock and stake again to keep getting rewards?

[final steppe]

You do not need to withdraw-- rewards will still be earned with the same token weight as long as the tokens are staked.

[abstract wagon]

ah ok cool thank you 💪🏻

[strange pond]

Do all people that stake get revenue distribution in additional to inflationary staking rewards, or do we have to do something special to get revenue distribution?

[final steppe]

RevDis goes to all who are staking the token 🙂
If you are staking the ETH/ILV SLP tokens, only the ILV half of that is counted for RevDis.

[strange pond]

Thanks. So the APY that is shown on the staking site is the combined APY between inflationary rewards and revdis I assume?

[final steppe]

The APY % is solely the estimate for the yield farming rewards being distributed with every block in those pools. There is a finite amount of tokens set aside for those rewards which is used in those calculations.

RevDis is different as it is dependent on the amount of revenue coming in (which is currently 0).

[bright heart]

Anyone having trouble navigating to the staking tab of the staking site?

[ember ginkgo]

Everything working normal for me

[bright heart]

I'm clearing cache and retrying.

All good. Sorry for the fuss.

[jaunty ridge]

Is current land sales on the illuvidex creating revenue?

[final steppe]

There are trading fees being earned on each transaction. The wallet which holds those trading fees is separate from the main Vault wallet though. And revenue distributions have not occurred with the trading fees just yet.

It’s a manual process at the moment and I believe the team will be waiting until the ETH gained from trading fees hit a certain threshold before issuing the revdis for that.

Pelican pinned the link to the wallet address which holds the ETH gained from trading fees though, so you can see how much has accumulated so far

#🥩〕staking message

[jaunty ridge]

187 ETH, that gets me a bit bullish seeing that it's only been a few months and there is so much more to come!!

[mellow thorn]

FTT

[crystal plover]

When it hits 10.000.000, there will be an ETH for everyone in revdis 😍

[pale trellis]

More volume and higher sales should kick it into gear.

[potent sable]

how fast does ilv staking decrease again percentage wise?

so its 6% a month? the tokens distributed decreases?

[cyan rampart]

It's a 3% decrease every 2 week Epoch. So N * .97.

If you're looking at two 2 week epochs, it's N * (.97)^2. = N * 0.9409

So not quite 6%, since the second 3% reduction is of the new total. It makes a big difference in calculations over many epochs.

It's also not per month, it's per 2 week epoch. This also makes a difference in calculations.

[potent sable]

oh my calcs are per month but youre right

[potent sable]

5.91% right. That doesnt sound right

[cyan rampart]

It's a 3% decrease and then a 3% decrease on the new total. If you use flat 3% you're gonna be off by a LOT over time.

For example, with a 50k initial amount, over 15 epochs, you'd have 50000 *.97^15 = 31662.56 Using a flat 3% applied to the initial value, you'd have 50000 * (1-.45) = 27500.

I dunno what I can tell you about how it sounds though. It's not calculated per month or per 4 week period, it's a 3% decrease every 2 weeks.

Our yield curve would look like a triangle if it were repeated 3% reductions of the initial value as well - It would not be a curve. We'd also be out of yield by Epoch 34. 0.03 * 34 = 1.02, or 102% of the initial value. We're now in Epoch 36, so clearly that's not the case.

[potent sable]

Yeah yeah dw I've got it 😛 I have calculated how many tokens are released then decreased that by 3% every 2 weeks. Then I use that to reverse engineer my apr among other things

[potent sable]

Thanks for your help Blickter I really appreciate it

[hollow cypress]

Hi, I'm new to staking ILV, so just wondering how to start?

[ember ginkgo]

!staking

[woven ibex]

When holding ILV, staking is a way to gain additional rewards from yield farming and revenue distribution. The process for staking is the following:

• Acquire either ILV or Sushi LP tokens.
• Go to the official Staking App.
• Enter the right pool according to the tokens you acquired.
• Decide your lock duration. The longer the lock, the higher the weight.
• After approving the contract, confirm the staking of the desired tokens.

[hollow cypress]

what kind of wallet do I need, first of all? And how do I find the official staking app?

[ember ginkgo]

Most people use MetaMask
Only use links from #🔗〕helpful-links
All DM's are a scam

[hollow cypress]

ok great, I can use MM, thank you

[shy mist]

Hey guys can I please have a hand, this happened and I am not sure how to find my slp on sushi swap 😭

“Contract interaction”
Failed

[cyan rampart]

Hey, can you clarify what you're trying to do exactly?

Remove liquidity (Turn SLP into ETH/ILV), add liquidity (turn ETH + ILV into SLP), or just view your SLP.

[worldly sigil]

this is how i make slp right?

[cunning perch]

Yes. Don't forget to add SLP Address to your wallet #🔗〕helpful-links

[worldly sigil]

couldnt find it but it seems i have it already, its just 0 at the moment 😄

[cunning perch]

If you have already added SLP then it's all good. If you haven't added liquidity to the pool then it shows 0 ofc.

[worldly sigil]

was expecting more slp.. its probly because ILV is cheap compared to eth right?

[cunning perch]

SLP is $480 atm. 5.5 ILV + 0.19 ETH = 1 SLP

[shy mist]

Algs bro I got it I was trying turn slp to eth/ilv 😂

[past glacier]

is it worth stake for 8% a year, 12 months, more 12 months of rewards?

in my mind you can bet on illuvium, but not staking you hold the chance to sell the time you want, if I take, I take 24 months to have "profit" on my stake, on ILV at least

[gloomy gazelle]

The rewards are only currently 8%. The reward APR is variable. Trending down over time.

[gloomy gazelle]

APR for the eth/ILV pool was nearly 10 times higher than the ILV only pool last I checked.

[brisk surge]

hey does anyone have any good ideas on how to load my ledger with eth?

apart from sending eth to it from an exchange. I feel like I'm buying and sending and sending and paying gas fees all so I can stake my ILV and claim my yield etc and it's dwindling down. This is probably a stupid and obvious question but I'm a genuine newbie to ledger/metamask. kinda

[worn turtle]

I think you can buy eth on you metamask/ w ledger connected now… you can in the states at least

[brisk surge]

ok I'll investigate that. thankyou! I am still unfamiliar with it all.

[worn turtle]

Yeah I can buy eth right from my mobile metamask

With Apple Pay lol

So easy

But

Fees

They get you either way really

[brisk surge]

oh! a whole new world opens up. I'll look into it. Yeah I've been getting double dipped I think. Its going from my bank account, to an australian exchange, to my ledger, to the illuvium thing

[onyx flower]

Wire to binance, free spot purchase of eth (no exchange fee on binance for eth and btc), $3 transfer to ledger from binance, then buy off sushiswap. It will only feel weird the first time and if you are buying ilv anywhere but sushiswap you are paying massive slippage

Getting used to onchain transactions with your ledger is a step you shouldnt be skipping/avoiding

[brisk surge]

OMG thankyou for this advice.

[whole nexus]

Hi! To get revdis we must stake the ILV in the flexible or locked pool or whatever ? How it works ? I forgot x)

[pure eagle]

!staking

[woven ibex]

When holding ILV, staking is a way to gain additional rewards from yield farming and revenue distribution. The process for staking is the following:

• Acquire either ILV or Sushi LP tokens.
• Go to the official Staking App.
• Enter the right pool according to the tokens you acquired.
• Decide your lock duration. The longer the lock, the higher the weight.
• After approving the contract, confirm the staking of the desired tokens.

[pure eagle]

Flexible staking is gone after V2 minimum is 1 month now, yes RevDis is for staked tokens

[whole nexus]

Oooh ok i'm full SLP so didnt know that, so to earn revdis we must stake ILV for minimum 1 months, Revdis are paid every months ?

[pure eagle]

Not really, you will receive RevDis from the ILV part of your SLP. For more on RevDis structure you can read the approved IIP-22 👇
#📰〕governance-news message

[whole nexus]

Ooh awesome, will read that and come back if i have more questions, thank's

[whole nexus]

Ooook just finished hehe
To clarify, for now Revdis will be in ILV right ? Vault sell ETH, buy ILV and send to stakers right ? In the IIP 22 they talk about distribution in ETH but it's only an option if distribution through ILV are not worth right ?

Also, the fact that if we stake 1 months we get 1/12 of revdis compared to thoses who stake 12 months is working or it's just a proposition ??
thank's

[gloomy gazelle]

Revenue Distributions will be as ILV.

[whole nexus]

But they talked about switching to ETH if ILV is not optimal right ?

[gloomy gazelle]

Technically possible. But it will almost certainly never be an issue.

[whole nexus]

Ok thank's, and for the 1/12 stuff if we stake 1 months ? it's validated or it's a proposition ?

[gloomy gazelle]

When staking you are choosing how long to lock it up for. 12 month lockup give your deposits 2x weight. 1.5x weight for 6 months. And down to close to 1x weight with the minimum 1 month lockup.

[gloomy gazelle]

No that’s not how it works.

You can choose to leave the deposits as long as you want regardless of how lock it was locked up for.

[whole nexus]

Oooh ok so for example i staked SLP one year ago, i dont plan to sell anything before 2025 minimum. The ILV in the SLP are weight x2 and the ILV rewards are x2 too right ?
I plan to buy more ILV soon, if i stake them in ILV pool for 12 months they will be x2 until i sell them and the ILV rewards also is it correct ?

[gloomy gazelle]

If it was locked for 12 months then it has 2x weight. If it was locked for less time (but was staked) then it only had the weight it was LOCKED for.

I’ve gotta go offline.

[whole nexus]

The initial token staked + rewards token are x2 if i stake 12months right ?
Ok thank's for the answers 🙂

[whole nexus]

If someone can answer this, i would be happy 😄

[final steppe]

Yes, in that case both the staked deposit and any vesting rewards are staked with a 2.0 token weight. So the idea there is that those tokens would be earning twice as much compared to someone who only has a token weight of 1.0.

[whole nexus]

Ok awesome! I was thinking that the weight 2 token was just the rewards token not the initial staked tokens!
They tokens stay weight x2 until we withdraw them right ?

[final steppe]

Ahh, yeah I see. Any token which is staked with a lock period of 12 months will get that 2.0 weight 😄 And yup, even after they have unlocked, they will continue to earn rewards until they are withdrawn.

[whole nexus]

So happy to hear that ahaha thank's ❤️

[topaz pollen]

Hi guys, I just got myself some ILV tokens... which stakeing pool will be best for the next 3 months?

[cyan rampart]

It's hard to say which is going to be best. The APR WILL be higher in the SLP pool for the next 3 months. There's a risk of Impermanent Loss in the SLP pool that you should be aware of.

Additionally, only 50% of the value of an SLP deposit is ILV, and so only 50% of the value is eligible for revenue distribution.

I personally have mostly SLP deposits, but don't take that as advice, decide for yourself. Happy to answer any questions about either pool.

[tough shoal]

gm
Does anyone know what this little grey box that i've circled in red do? Im presuming it is meant to be used to withdraw all current unlocked stakes in 1 txn? but I'm having no luck and having to withdraw them 1 by 1 (i've already withdrawn 1 stake) is it because its V1? Thanks

[cyan rampart]

So deposits made in V1 still need to be claimed individually. If you were withdrawing multiple deposits made in V2 (or rewards from V1 stakes CLAIMED in V2) you could withdraw multiple in one transaction.

[tough shoal]

perfect, thanks Blickter!

[high valve]

Hi guys i have some SLP and ILV i can withdraw, tht are V1 should i do it ? or leave it their ? what do i get if i withdraw slp ? a split eth/ilv ?

[cyan rampart]

Totally up to you. If you leave it, it continues generating rewards. If you withdraw ILV, you have ILV in your wallet. If you withdraw SLP, you can split it back into ILV + ETH on Sushiswap by removing liquidity.

[high valve]

so i dont need to withdraw to put back in the pull ?

[cyan rampart]

You don't have to withdraw it if it's finished it's vesting period. It will remain staked and will continue generating yield rewards, and being eligible for revdis.

The 2 reasons to withdraw would be: You want to restake for a higher weight (if you weren't already at 2.0 weight), or if you wanted to sell the tokens.

[high valve]

amazing thx im allready at 2 so id leave it their then,thx a lot for ur answer

[steady trellis]

Woops can't post a new link but can edit my old pinned message, new version of the dashboard inside

[gloomy gazelle]

I was using v14 earlier today.

[uncut sonnet]

Looking for some help here. I staked some ILV yesterday but it still has not appeared in my account. Etherscan shows the transaction was successful. I have never had it take so long.

[eternal portal]

can someone explain the "weight" of staking to me, please? I've read the medium and don't quite get it :/ for example when do I get weight "1.08" and when "2.00"? I know that a bigger weight is better 😄

[gloomy gazelle]

Imma open a thread. Do not trust direct messages.

[eternal portal]

it is just a muliplicator dependant of the staking time, is that correct?

[gloomy gazelle]

Basically. It virtually multiplies amount of tokens you have staked for the rewards calculation. Which multiplies the APR

[eternal portal]

ok and it should be multiplied instead of added if I want to calculate the overall, right? 😄

[gloomy gazelle]

When you say OVERALL what do you mean?

The APR here is what it was a couple days ago for ILV with 1month lockup. 1.08 weight

[eternal portal]

I have 1.08 weight for a 1-month stake, if I'd stake 12 times with that weight it should obiously be less than stake it one time for 12 months with weight 2.0 - I got it 😄 thanks xD

[whole nexus]

Hi! I will must pay fees for every rewards in "vesting" section ?

[cunning perch]

if you wanna withdraw, yeah, Each withdrawal incurs fee

[whole nexus]

Wow ok, it's a small fee or ? I dont plan to withdraw until 2025 so i will worry about that later but just asking ^^

[final steppe]

If you have multiple rewards claims which have unlocked, you will have the option to select multiple rows and withdraw them all within 1 batch.

[whole nexus]

Hohoho awesome !! perfect

[tropic knoll]

Just curious to get different people's takes on what quantity of ilv they wait for to accumulate before they claim as rewards... Currently only have around 5 slp and am wondering what's an efficient way to do this.

[bright heart]

I was able to select like 5-6 ILV rewards at once and withdraw them in a single transaction. SLP was a different beast. That one had to be separated.

[whole nexus]

Nice thank's

[bright heart]

Pretty sure there is a calculator for this in pins, also many videos on how to use those in youtube.

[tropic knoll]

Thanks!

[twin mulch]

!contract

[woven ibex]

ILV Token: 0x767fe9edc9e0df98e07454847909b5e959d7ca0e
ETH/ILV SLP Token: 0x6a091a3406e0073c3cd6340122143009adac0eda
sILV2 Token: 0x7E77dCb127F99ECe88230a64Db8d595F31F1b068

[surreal oyster]

im confused what is the difference between vesting rewards and normal rewards

and what it means that they compound during the 12 months period of vesting?

[cunning perch]

Vesting means locked. 12 months vesting period means it will be locked for 12 months. When you claim your rewards, it will start a 12-month vesting period meaning you can't touch it. When it is locked, it will incur rewards at a weight of 2X. The same goes for staking. If you lock your deposit for 1 year, it will be at a weight of 2X.

RevDis is unlocked whenever it happens though.

[surreal oyster]

so the more rewards i dont claim the more i earn basically?

[cunning perch]

If you don't claim, they will receive nothing. Everything starts after you claim. The one year lock starts after the claim

[surreal oyster]

but what this means? When it is locked, it will incur rewards at a weight of 2X.

[pure eagle]

!claim

[woven ibex]

Rewards from staking have to be manually claimed and GAS fees for those transactions have to be paid:

• When you stake ILV yield farming rewards start piling up for you
• You claim those rewards whenever you deem the pile to be big enough to justify gas fees
• If you claim sILV2 you have it unlocked right away (sILV2 is only usable in game as a substitute currency for ETH outside the marketplace and the Leviathan Arena)
• If you claim ILV then that batch of ILV gets locked for 12 months and automatically staked in the ILV pool with a token weight of 2.0 for compounding effect
• New rewards start piling up....rinse and repeat

NB: ILV paid out as part of Illuvium’s Revenue Distribution have to be claimed as well but are not subject to a locking period.

[surreal oyster]

but it gets automatically staked after the 12 months or after i claim?

[pure eagle]

Yes, after you manually claim your rewards those go straight to the ILV pool for a 12 month vesting period with a 2x weight

[surreal oyster]

oh ok

[surreal oyster]

does the rev distribution changes aswell based on how much time i lock my stake or it just depends if ive ilv staked when there is the rev distribution?

[final steppe]

It varies based on the time you lock your stake as well. If you lock for 12 months, you get a token weight of 2.0. The idea there is that you would essentially get double the rewards compared to other tokens which were locked for the minimum amount of time and have a token weight closer to 1.0.

[surreal oyster]

ohhh now i understand better

thank u man kinda complicated to understand everything first time but now i understand

[modest basin]

I just pulled out my slp stake from a year ago, how do I convert that back into Eth? Have 2 SLP on my trust wallet not sure how to convert

[final steppe]

Hey Bmau-- so you'll need to head to the Sushiswap website and withdraw your liquidity from there. That would "return" the SLP tokens and then give you your ILV and ETH tokens.

[modest basin]

Gotcha thanks!

Had to use the v1 sushiswap

[final steppe]

Ahh yeah, the updated site isn't too clear.
If you're on the updated site, you click on "Earn" at the top, then you can find the ILV/ETH pool to withdraw from 🙂

[bleak schooner]

Hi guys, can someone explain me what is the difference between ILV pool and ILV/ETH pool? Why ARP is higher in ILV/ETH pool? If I have 10 ILV how do you suggest to split between these pools? Thank you so much 😊

[pure eagle]

ILV/ETH pool gets 80% of yield farming rewards because you provide liquidity and has more inherent risks (Check out Impermanent loss). Won't provide financial advice but there is a lot of information pinned to this channel that you can check out to make up your mind

[gloomy gazelle]

It is important to know that the APR for both pools is variable and trends down. You can usually assume that actual experienced APR in the next year would be more like half of what is displayed.

There’s a lot to consider.

The spreadsheet tool pinned here is often useful. #🥩〕staking message

[bleak schooner]

yes I know that every two weeks it goes down, you mean that right?

[gloomy gazelle]

Yes

The difference is what the tokens are that you are depositing.

[woven ibex]

When holding ILV, staking is a way to gain additional rewards from yield farming and revenue distribution. The process for staking is the following:

• Acquire either ILV or Sushi LP tokens.
• Go to the official Staking App.
• Enter the right pool according to the tokens you acquired.
• Decide your lock duration. The longer the lock, the higher the weight.
• After approving the contract, confirm the staking of the desired tokens.

[bleak schooner]

ok got it, and can you tell me why if I try to swap ETH to SLP there is a 99% difference? thank you and sorry if the question is maybe stupid

[bleak schooner]

what do you mean? is it different if i’m depositing ILV or SLP? thank you for helping 🙇🏼‍♂️

[woven ibex]

Providing liquidity is done via an ILV/ETH Pool on SushiSwap and requires multiple steps:

1. Buy ILV and ETH
2. After approving the Sushi contract you stake a 50/50 value ratio of ETH and ILV
3. You receive SLP tokens. (To see them, add the SLP contract address to your wallet)
4. Stake the SLP tokens through the Illuvium Staking App and set your lock period.

See #🔗〕helpful-links for official links.

[gloomy gazelle]

ILV pool is for ILV tokens.

Eth/ILV pool is for the sushi liquidity provider (SLP) tokens that are received when someone provides liquidity as detailed above.

Good bot @woven ibex

[bleak schooner]

ahhh ok got it, the bot explained it well ahah can you give me a tutorial link (maybe a video?) on how can I stake ILV/ETH?

[gloomy gazelle]

This one is older but still accurate. The UI on the websites has changed but not the important stuff. It just looks a little different now. #🥩〕staking message

[bleak schooner]

perfect, thank you 🙏🏼 last question: is still possible to have variable staking?

[gloomy gazelle]

Flexible staking. No. The shortest lockup is now 1 month.

Check the pins for more info regarding v2 staking.

[bleak schooner]

Ok, got it! Thank you for helping 🙏🏼

[gloomy gazelle]

Be sure not to trust anyone that sends you a direct message. There are many scammers and impersonators. No one legit is going to send a link to something in a DM.

#🔗〕helpful-links is the official spot

[bleak schooner]

yess, I will use only official links

[coral umbra]

any update on staking v3?

[cunning perch]

It's too early for that.

[queen grove]

I'm trying to move some of my SLP from metamask to a hardware wallet, but I get an error when I try to approve ILV/ETH for staking. Is trezor not supported for staking?

[onyx flower]

You still use metamask to interact with protocols, but your stuff is in the trezor address. Try again but link your meta to your trezor. Look all that up on youtube and get familiar with the hardware wallet/metamask interaction

[indigo linden]

Hi! Is there a step by step reference for staking? I only have 5 ILV that I'm looking to stake. What are SLP?

[gloomy gazelle]

This old video is solid. #🥩〕staking message

Be sure not to trust anyone that sends you direct messages. There are many scammers and impersonators.

[woven ibex]

When holding ILV, staking is a way to gain additional rewards from yield farming and revenue distribution. The process for staking is the following:

• Acquire either ILV or Sushi LP tokens.
• Go to the official Staking App.
• Enter the right pool according to the tokens you acquired.
• Decide your lock duration. The longer the lock, the higher the weight.
• After approving the contract, confirm the staking of the desired tokens.

Providing liquidity is done via an ILV/ETH Pool on SushiSwap and requires multiple steps:

1. Buy ILV and ETH
2. After approving the Sushi contract you stake a 50/50 value ratio of ETH and ILV
3. You receive SLP tokens. (To see them, add the SLP contract address to your wallet)
4. Stake the SLP tokens through the Illuvium Staking App and set your lock period.

See #🔗〕helpful-links for official links.

[safe schooner]

Hi all ! The transaction to restake my old SLP (I created it when we were still in V1) which just unlock has failed. Do you know if it's normal ?

[cunning perch]

By “restake” you mean you withdrew and are planning to stake again and re-lock? And that tx failed?

[gloomy gazelle]

It sounds like you have a v1 deposit that has unlocked. There is no need to withdraw the deposit if you want it to keep earning. Leave it alone and nothing changes.

But if you still want to withdraw for whatever reason let us know and we can help setup a thread to see what’s the problem. Do mot trust any direct messages. Scammers/impersonators will try and convince you to trust their links.

[boreal pier]

Is staking safe with all that’s going on?

[craggy field]

all what's going on?

[boreal pier]

FTX and Gemini

Just curious

[craggy field]

Illuvium has their USDC in a safe wallet or on a bank. Nothing is on Dexes. So the funds should be secure as can be 🙂 they don't rely on others to safekeep

[boreal pier]

Thank you helps me feel reassured

[craggy field]

this is the treasury wallet 🙂
https://etherscan.io/address/0x58c37a622cdf8ace54d8b25c58223f61d0d738aa

[boreal pier]

Thank you so much this is more precise

[timber brook]

Evening y'all. My initial SLP stake is about to become unlocked. If I want to keep it earning do I need to do anything or just leave it where it is? Thanks in advance.

[brisk surge]

It keeps earning at it's initial stake weight until you withdraw.

[timber brook]

Think this answers my question....#🥩〕staking message

[brisk surge]

Hi

I staked illuvium on the site with a wallet ......

but I lost the key to that wallet .....

now on the site I have the illuvium in play with that wallet

can I change wallet on the site where I can send my illuvium to a new wallet? 🙏

[gloomy gazelle]

When you say lost your keys… do you mean that someone else has control of your wallet now?

[brisk surge]

No

[gloomy gazelle]

We may setup a private thread to discuss this. But no one legitimate will try to send a direct message.

[brisk surge]

🙏

[gloomy gazelle]

So you have control but are worried about not having the secret phrase to back it up?

[brisk surge]

I can no longer access that wallet because I have lost the secret phrases to log in ....
but I have the contract with which I put them in staking

[gloomy gazelle]

Oh. So you do not have control of the wallet at all right now. If that’s the case there is nothing that can be done.

[brisk surge]

questo è il contratto in cui sto picchettando sul sito

0x5f51Fa7992FFd3944146edB2f8D95E64511b5d18

non puoi trasferirmi i token dato che li ho sul sito in staking su un altro portafoglio tu?

[gloomy gazelle]

Basically you locked a box that can only be accessed if someone has the keys. But now the keys are gone. So no one can access it. Ever.

[brisk surge]

this is the contract in which I staking on the site

0x5f51Fa7992FFd3944146edB2f8D95E64511b5d18

you can't transfer the tokens to me since I have them on the site staking on another wallet you?

[gloomy gazelle]

The staking contracts are not controlled by anyone but the wallet that makes the deposit.

[small island]

how is revdis distributed between single staked ILV and ILV-LP ?

each gets 50 % ?

[cunning perch]

It depends on the amount of ILV in the SLP.

[final steppe]

RevDis would split between the two pools based on the overall ILV token balance within each.

Then token weights would come into effect.

[small island]

if that is the case, has there been any discussion how to continue incentivizing LP after ILV distribution ends ?

in order to counter impermanent loss

because if the APY for LPs is not much higher than for single sided ILV, I dont see why I or others should continue LP after the ILV distribution is over.
though, having somewhat deep liquidity is important for the project

[final steppe]

There’s been a tad bit of discussion here in there. Many of us are in the boat that wants to “jump ship” from the SLP pool to the ILV pool when yield farming ends (if not earlier).

Some solutions have been brought up through governance discussions but nothing concrete yet. The earning from the LP fees would likely not be enough incentive for most to stay in the pool

[craggy field]

There have been talks about it but nothing was actually made clear.

I think it should be about time that there was a discussion on this. what do you think @elder dawn ?

Kieran wanted to give away NFTs at some point but then it was pushed off, do we just rely on the treasury to singlehandedly hold SLP? Or do we expect revdis to incentivise enough holding of Liquidity because it creates trading volume?
Before we get to June next year there should be some more concrete regulations within the DAO on this imo. I think we'll start seeing a lot of jumping over in a few more months.

[small island]

a simple solution that would help here is to distribute at least 50% of rewards to LPs (unrelated how much ILV is inside there). Happy to discuss this further with the community when the time comes

[small island]

June next year is when distribution ends ?

[final steppe]

I imagine we may start seeing some proposals after game launch to tweak how revdis is distributed between the two pools, one example being what you just proposed and one being what Garf mentioned about the treasury.

I do worry what Impermanent loss might look like on the treasury funds if they are staked in the LP though if we expect the ILV price to take off after game launch

[craggy field]

No i think that should be the time we should have regulations. (Concise rules)

Scoriox made a video last year that the tie between ILV and SLP would be in say February. (But that was based on revenue actually coming in.)

Now i dont think that people will jump over before the game comes out. but if the goal is for it to come out in 2023 australian Summer then these things should be hashed out in spring 2023. Otherwise we'll see people jumping out in advance and restaking, only to have then new rewards being added to SLP. That is too late imo.

[final steppe]

I say “after” game launch but could very well be before. Especially considering the team has mentioned the creation of different “committees” in Gov v2, we can hopefully get more of these discussions and IIPs rolling out.

[small island]

in a positive scenario, IL will be ok if ETH also starts going up. However, very generally speaking, there must be high rewards for LPs otherwise folks just dont participate, there is a lot of evidence across various projects for this (especially DeFi)

[small island]

what do you mean with regulations ?

[craggy field]

Sorry i used it for lack of a better word.
We should have clear rules on what rewards SLP holders get íf they get rewards at all.

[small island]

when does the ILV distribution end again ?

[craggy field]

1 Juli 2024 or 30th of june

[small island]

ok, and do I recall right that the distribution is falling right ? meaning less ILV is distributed over time

[craggy field]

Yes with a growth factor of 0.97 per 2 weeks.
X × 0.97^n

[small island]

definitely makes sense to figure this out before the game goes public (via a public beta, or final form)

[elder dawn]

There have been conversations in Discord and a number of ideas shared, but nothing definite. There is 1.5 years yet on yield. We may need to incentivize it some, but the interesting thing is that it likely will hit an equilibrium as the more shallow the pool, the higher the swap fees. If we start to see liquidity drop, we can get more concrete on how to change it.

[craggy field]

So you do not think that the liquidity may drop to an uncomfortable level while the game is acquiring its player base and a steady revdis?

In the worst case scenario I think we should have a public plan ready rather than the team thinking of something behind closed doors and jumping to the opportunity to try pushing through an IIP similar to the Forge IIP.

So "having concrete plans be thought up reactively" is not a good call imo.

[elder dawn]

No closed door thinking. I was referring to discussions here. Yes, we need to have plans. Likely something for this epoch to get in place, or at least have several contingencies

[craggy field]

Thats more like the attitude i was hoping to inspire 😄
Perfect!

[crystal plover]

1.5 years is only 0.5 years if you want to lock for 12 months

[cursive yew]

Burnt for the greater good haha

[gloomy gazelle]

Imagine the revdis portion for Liquidity providers being increased by a weight of x1.03 every fortnight. Until it reaches a either a predetermined maximum weight (perhaps 2x weight so it’s like the ETH side also gets revdis) or a point at which the council steps in to say the weight increase is enough to incentivize liquid providers.
Actually, the second option of the council deciding to stop the weight increase at any moment may be too much like needing to wait for some bearish event (like a giant unlock cliff) to incentivize LPers. Too much of an unknown. I mostly liked the symmetry of it.

Tokemak also seems to be a project that incentivizes liquidity providers that might be able to meet the DAOs needs.

V3 staking might also include moving some or even all the “official” liquidity to L2.

The small amount of fees inherently kept by the LP tokens would likely increase significantly with higher volume. Additionally, many DEXs have been providing their own tokens to LPers. The little bit of sushi that the DAO is currently getting is quite obviously not enough of an incentive but it’s at least another type of potential bonus to possibly consider.

[gloomy gazelle]

https://tenor.com/view/rip-dr-evil-homies-gif-10430138

https://tenor.com/view/hunger-games-sacrifice-salute-tribute-katniss-everdeen-gif-16687787

I can sympathize though for sure. That’s gotta be rough.

[cursive yew]

Yup me too

[wheat sky]

hello how can I get SLP? Uniswap or sushiswap?

[candid kettle]

sushiswap

!lp

[woven ibex]

Providing liquidity is done via an ILV/ETH Pool on SushiSwap and requires multiple steps:

1. Buy ILV and ETH
2. After approving the Sushi contract you stake a 50/50 value ratio of ETH and ILV
3. You receive SLP tokens. (To see them, add the SLP contract address to your wallet)
4. Stake the SLP tokens through the Illuvium Staking App and set your lock period.

See #🔗〕helpful-links for official links.

[wheat sky]

tnx

[cursive yew]

just bought my first ilv

[ember ginkgo]

https://tenor.com/view/ilv-illuvium-one-of-us-wolf-of-wall-street-gif-23354367

[cursive yew]

of to staking i go!

Staked. Feels good, waited long time for this. More will follow hehe

!claim

[woven ibex]

Rewards from staking have to be manually claimed and GAS fees for those transactions have to be paid:

• When you stake ILV yield farming rewards start piling up for you
• You claim those rewards whenever you deem the pile to be big enough to justify gas fees
• If you claim sILV2 you have it unlocked right away (sILV2 is only usable in game as a substitute currency for ETH outside the marketplace and the Leviathan Arena)
• If you claim ILV then that batch of ILV gets locked for 12 months and automatically staked in the ILV pool with a token weight of 2.0 for compounding effect
• New rewards start piling up....rinse and repeat

NB: ILV paid out as part of Illuvium’s Revenue Distribution have to be claimed as well but are not subject to a locking period.

[cursive yew]

@ember ginkgo When would you say it makes sense to claim a batch of ILV for restaking? Once it significantly higher then gas fee?

[ember ginkgo]

Yes, you'll have to decide for yourself how much ILV is worth it paying the gas fee.

[cursive yew]

i see i see

what tokenweight do you get with 1 year lock?

[ember ginkgo]

2

[cyan rampart]

@craggy field This is a good summary of ideas around long term liquidity.

Some of these got covered by peli already but I just wanted to express all the solutions I've heard suggested, because I've been wanting a bit more progress on this for many epochs now. I'll be listing everything I've heard suggested that was a viable option at some point, regardless of my feelings on the ideas.

1. Directly incentivize the LP pool in some way. This could be a higher staking weight for LP deposits, it could be an imbalanced portion of revdis going to the LP pool (including the idea to give LP's revdis on the value of their LP position instead of the ILV only portion). Someone suggested giving NFTs to LP providers (I really dislike this idea personally, it's not enough incentive).

2. Further provide liquidity using the Treasury. This does expose even more of the Treasury to IL, and is a bad option if you believe ILV will significantly outperform ETH post-launch. This should be a last resort option (IMO) if you're long term bullish.

3. Distributing revenue as ETH is a viable way to avoid the need for large scale liquidity, and solves some other issues related to swapping ETH for ILV. This got incredibly mixed reviews when it was first suggested, because it's a major change to the tokenomics, but I do still regard this as a solution to long term liquidity, since it just eliminates the problem of needing a deep enough pool to facilitate vault swaps.

4. Tokemak, or a comparable project, could be a solution. As peli mentioned, there's a lot of complicated stuff going on behind the scenes with Tokemak, but the core of it is that you're protecting liquidity providers against IL, which gives them more incentive to provide liquidity in the first place. Reading through the specifics of Tokemak again, there ARE conflicts with ILV's tokenomics. To function, using Tokemak would require some amount of ILV to be deposited, and for the DAO or user base to own some amount of TOKE to direct liquidity to to ILV. This system is interesting, as LP's no longer provide paired tokens, they provide single assets, and aren't subject to IL. IL is instead taken on by TOKE holders who are directing liquidity.

5. Use a CEX instead of a Defi LP to facilitate swaps. This obviously looks even worse after FTX, but it is possible that the Treasury could provide some extra tokens to a CEX and just do vault swaps through that CEX.

6. Let the inherent 0.25% Sushiswap fees act as the incentive. There's some equilibrium point for LPs at which IL is balanced by the fees collected + revdis, but it's possible it's not enough to facilitate large, consistent vault purchases at reasonable amounts of slippage.

The more I've been thinking about this, the more I've been liking distributing revenue as ETH instead of ILV. We should be doing this for the Treasury anyways - It doesn't make sense to pay to swap Treasury's allocation of revdis to ILV, only to have the Treasury swap their ILV back to ETH or USDC so it can be spent. While we're at it, it can also provide a solution for ILV liquidity. Incentivizing LPs is expensive, even more so when IL is high, and we need to get enough value out of the vault swapping ETH to ILV via normal vault mechanisms to justify the cost of sustaining a large LP.

[marble bison]

If I don’t withdraw my staked tokens will they keep giving yield?

After they become unlocked.

[cyan rampart]

Yup, you can leave them in and they will continue yielding after they have unlocked.

[gloomy gazelle]

Perhaps a function in the revdis contract that will be triggered in ways similar to how the current revdis contract will be. Like how the vault makes ILV purchases over time based on how much eth is in the vault. The contract could distribute as eth if the potential eth to ILV swap would cause slippage above x%. If R(min)>(3%)slippage. I’m not certain but my memory is that the revdis contract would get hung up if slippage was too high. https://gov.illuvium.io/#/proposal/0xefc13db07b40b6376aaf89687d2259ed41d45b2b028ae1e191c46b204bb9b07d (proposal was a little unclear on this)

Maybe something to compare the daily amount of eth coming into the vault to the daily amount getting swapped to ILV. If IN>OUT for x(DAYS) then distribute the excess eth.

Basically if the revdis contract can’t hope to make the full distribution because the actual revenue is too high compared to liquidity then that’s a problem that needs fixed. ETH distribution is a solution mentioned in the proposal. But the downside of not having the buy pressure can be avoided by having partial ILV and partial ETH distribution.

https://tenor.com/view/why-not-both-why-not-take-both-gif-11478682

[cyan rampart]

I like that a lot actually. Basically let the LP settle at whatever amount of liquidity the market decides is appropriate based on the fees being collected through swaps. Prioritize the vault buying ILV through the LP up the the current 3% slippage threshold, but if it's not possible to distribute Rmin within that context, distribute the rest as ETH. It ensures there will always be some amount of liquidity to facilitate Defi trading, as there will always be buy pressure from the vault providing some amount of trading fees as incentive for liquidity providers.

Then again, the main benefit of ETH based distributions is that you completely avoid sandwich attacks and any complexity associated with the vault buying ILV. You don't need complex rules for how often the vault buys, or distribution periods, or Rmin etc. Revdis could read (in theory): 20% of the Vault distributed daily. There's value in that kind of simplicity, both from an understandability perspective, but also from a technical perspective. Buy pressure wouldn't be direct from revenue any more, but would still exist provided revenue was still coming in. It also eliminates the need to provide any additional support for a LP in any way.

Just reading through the IIP, "An appropriate time to include any significant changes (i.e. An IIP rather than ICCP) would be during the development of Staking v3, which targets a Layer 2 launch.".

Considering the implications of L2 staking, the cost to transact becomes minimal, and so the incentive to provide liquidity also becomes pretty minimal. 0.25% of something is still something, but .025% of almost nothing is almost nothing. Revdis would greatly outweigh any incentive provided by fees, unless a complex system were developed to generate more fees from trading. It seems like L2 staking would likely push people towards single sided staking instead of providing liquidity, moreso than the current L1 system does.

[craggy field]

@gloomy gazelle @cyan rampart Really appreciate your guys' responses! you even collected all the reasonings. Nice job!

1. I do think this is a tough route. but I personally would like the idea of a platinum pass similar to credit cards or other VIP members bonusses. Say you have a 1 year lock of sufficient proportions, you get 1% - X% off on all ILV (in-game) purchases? I think that would be fun and currently there are 8300 SLP stakers so it's not like you would give away 70% off for everyone. I think it could be a fun thing.

2. I don't like this one, as you would basically cut in half the amount of ILV the treasury holds and I already think it will take a lot out of the treasury tokens to pay for the entire project.

3. Distributing in Eth doesn't have my preference because Revdis won't directly pump the ILV token price anymore. Also, the liquidity for ILV would go down because people only want to stake the token. Why would you trade it if there is a steady revdis in another form? The volume will go down to ~0 and then liquidity will go further down until there is 0 ILV circulating or a small amount with incredible slippage.

4. No clue on other solutions.

5. At the current time this indeed doesn't look like a great solution.

6. I think the 0.25% is too little and will reduce the liquidity over time.

Similarly to 3, I don't really like the idea of buying less ILV with revdis if the liquidity doesn't allow for it. If the ILV liquidity drops, then wouldn't the Treasury buy less ILV, thus there would be less volume, therefore less reason for liquidity which in turn lead to lower Revdis% in ILV and again less volume etc.?

[cyan rampart]

RE: 1) I don't regard staking the LP as part of any kind of gameplay experience, it's strictly financial in my mind. I don't think it would be a wise choice to conflate the two - Investors and gamers may have overlap, but they are NOT the same demographic. Tying in-game stuff to staking the LP would be a mistake IMO, and I don't believe it would provide the required incentive to continually provide liquidity if it's not a financially attractive proposition.

2. Agree, I mention this mostly because it's there, it's not going away, and it should always exist as, at worst, a plan B or plan C type option. There's a failsafe.

3. If revdis is paid in ETH, it's not directly pumping the token price, but it DOES still affect the token price. Many smart people have speculated that long term, ILV's value will be tied to the amount of revenue we're bringing in, since the primary reason to hold ILV long term is to get a cut of that revenue. There will be (and this is just my opinion) some type of ratio established by the market, where if a single ILV is providing say, .05 ETH in revenue a year, ILV will be valued at some multiple of that amount. In an indirect way, this does still provide buy pressure to the token.

I guess my biggest question for you would be: How do you propose we mitigate sandwich attacks where people with no vested interest in the success of ILV extract value by using automated trading tools to extract value following vault buys? It's completely possible (theoretically) that a normal ILV staker doesn't even realize any of the price action caused by vault buys, because automated traders could stock up on ILV before a vault buy, sell it after at a profit, and the price would have effectively not moved aside from a very short period of time. This is the main weakness of revdis as ILV. Changing the size/frequency of buys can help mitigate this, but it will always exist if the vault is making purchases of ILV using ETH.

4, 5, and 6 I can't really even make an argument for TBH. Not great ideas IMO, but they do exist.

Edit: To elaborate more on 1):

A core proposition has been that you don't need ILV to play the game. Giving ILV holders (or specifically, LP stakers) a discount on gameplay or whatever in game, means the optimal scenario to play Illuvium is to be a staker. I don't think you end up incentivizing LPs to stake, I think you end up incentivizing gamers to become LPs. That should not be a goal IMO. The optimal way to play the game should not require you to have a large LP position. Further implications to this (and this is getting into extreme examples of the kinds of things that could cause) would be things like multiple people playing a single account that has a large discount because a large LP position is associated with that account.

[craggy field]

3. I think it would create buy pressure but no sell pressure. If 9M tokens are in the hands of people, and there is no reason to sell the tokens, then why would they? At first they may buy more ILV with Eth, but after a while there is no need to because the price of ILV > revdis in Eth. So you would see ILV volume drop as people become satisfied with the amount of tokens they hold.

And after that they will just hold and sell the Eth (unless in rare cases people suddenly need the money)

But there is no need for liquidity in the ILV pool after a while and so the pool may dry up 😄

How would I prevent sandwich attacks? I think that naturally, people will increase the amount of liquidity in the pool as the treasury buys more ILV. Like we all know, however, this may be a very weak stream at first. Stakers may choose to remove liquidity because of it. Revdis may grow very strongly and at that point we may see people jump in and provide enough so that the sandwiches don't happen as easily anymore. So just like what they did with the 1 year locks, they should incentivise people to keep their tokens liquid again until the revdis machine is working.

1)) I don't think multiple people playing on the same account is that bad. I would have my family play on my account if I have the mozart upgrades that allow for more resource finding efficiency, less energy per encounter costs and such as well. Why wouldn't I? And if you incentivize players to hold ILV, then what's the problem? Don't you want the community to hold ILV tokens to make the game more decentralised?

[brisk surge]

Ive always figured we could motivate more liquidity on the LP by increasing the tolerance to slippage.

If we want to make the trading fees on the LP worthwhile we would need to increase the volume. A lot of volume will come from revdis buys but a lot of it will also come from arbitrage traders capitalizing on the price difference created between the LP and CEXes when the big revdis buys happen. Higher slippage creates a stronger arb opportunity which means more volume is required to normalize the prices again. At some point theres a balance where slippage goes high enough to create sufficient volume and attracts enough liquidity to keep the LP topped up.

This might end up being a bit expensive on the slippage side depending on how much volume is actually created in practice, but if we need to put slippage up to 5-7% it might still be a decent option because I cant really see a CEX or market maker agreeing to facilitate that kind of liquidity without a decent fee.

[cyan rampart]

Addressing 1 first: I don't think you want to make there be gameplay incentives related to staking, it's a bad look from the perspective of gamers IMO. It's effectively adding a layer of pay to win. Implementation-wise, it's also a problem, since we're on a Fuel based system. Do you make the Fuel itself cheaper? Do you change the cost of an action in Fuel? Lots of the criticism we've seen around gameplay (and the way the team has responded with fairer systems) has been based around keeping the costs to be competitive reasonable. (Things like S1 playable as S3 in competitive, etc.)

If there's a sliding scale of discounts based on the size of an LP position, people WILL utilize that to the fullest extent they can, and the market will end up cooresponding to those discounts. How's the player experience when you realize that everything you can capture, gather, or craft can be obtained more cheaply by someone with more money than you, and they are X% more efficient than you could ever hope to be in spite of your decision making or agency as a player?

I think letting players know that staking exists, explaining it etc. is fine, but I don't think there should be any in-game incentive tied to whether you stake or not. At most, I'd be ok with something like a pfp or badge you can display, something cosmetic. Practical discounts etc. will wreak havoc on the in-game economy, and IMO will act as disincentives to the "have-nots".

[cyan rampart]

Speaking to the other points made:
I don't think ILV volume is a metric we need to be super concerned about if we're doing ETH based distributions. Revenue paid as ETH does create indirect buy pressure, and buy pressure in and of itself creates its' own sell pressure. Token price goes up, someone wants liquidity for lambo, they sell their tokens. Every person will have some theoretical price at which they would sell their ILV at. I don't think sell pressure is something that need to be explicitly created, it'll take care of itself.

RE: Sandwiches -
I agree with most of the assumptions you've made, and I think most people intuitively know what could happen. Decreasing APR in the SLP +revdis on 50% of the value will be in competition with the APR from single sided staking + revdis on 100% of the value. At some point, it could become fiscally optimal to remove SLP positions and swap to single sided staking. Additionally, lots of SLP positions will be unlocked at that point in time, so this could happen FAST when it happens. You're left with lower liquidity, which is subject to more price action for a given size of buy. More price action and lower liquidity is exactly what someone sandwiching vault buys is looking for. I don't see any point at which incentive to provide liquidity increases, unless it becomes so low that fees become the incentive. I also don't see a point at which sandwich attacks become less viable - I think (again, this is my opinion) that we're probably very near to the maximum amount of liquidity for ILV that we'll ever have, unless the tokenomics change substantially. From here on out, I don't see liquidity increasing appreciably unless something major changes. High liquidity is the best protection against sandwich attacks.

I'll assert again - No matter what you do, to some extent, sandwich attacks will always be possible as long as the vault is buying ILV from the market using ETH, and most of the ways to mitigate sandwiches are complex.

[onyx flower]

Whats the argument against eth as revdis?

[cyan rampart]

It was point 3) here. #🥩〕staking message

There are some other arguments against ETH as revdis as well, but I'll let other people raise them, since I'm definitely for ETH as revdis and I probably wouldn't do those arguments justice.

[onyx flower]

So no argument then

[craggy field]

I agree with your stance that SLP should not have a drastic effect on gameplay. Increasing benefits for rich people may not be as positive as i may have thought. However, people with occasional credit card debt and showing that they can pay it off get cheaper deals as well. I think that those that hold SLP (idk how much) for a certain period of time would be one of those platinum members and through time, should get deals based on their preference. for runs this would be simple: If Fuel price is close to the top 25% rails, you could dial up the discount. Then when you reach that again, you could sell more lands. and retain that discount. It does hurt the income and it may be a bad idea but it would allow for people to be incentivised to continue holding their SLP.

Sandwiches and this entire dilemma may require big brains to come up with the best way to go about this. I enjoy having a chat about this because the community has adressed this multiple times but there is no conclusive answer just yet. Involving multiple people, like @small island, scoot, deraji and such who have shown their involvement in tokenomics is fun as I learn a lot of stuff here every day.

Going forward I would like to add this point to the AMA that we may one day get with Danny @worn turtle 😏
"What do we do with the impending decrease in liquidity in the ILV/Eth pool? Do we just leave it like this and have a drop in liquidity when revdis starts coming out or do we actively involve ourselves and try to look for ways to balance liquidity (someone help phrase this better?)"

[craggy field]

😄 Yeah it might as well be no argument. But i would like to have a change of guard with ILV. If you don't make it so that people want to sell their ILV, then you eventually may end up with 10 holders who don't need the money they put into ILV anyways. and they just sell all the Eth while holding all ILV tokens.

[onyx flower]

Trying really hard and still nothing more than vapor.. seems a clear choice. Arguing like this gives the illusion the choice for eth as revdis is closer. Playing devils advocate is not worth it here

[cyan rampart]

It might require big brains and a complex solution, or it might require a simple solution, such as revdis paid as ETH.

Regardless, I do appreciate a good conversation about this. I'll hold off commenting more on anything until some other viewpoints are heard.

[onyx flower]

Just copy gmx, done

[brisk surge]

The argument is that by the treasury buying and distributing ILV, it will result in more ILV being purchased and held which so the price would go up more. A higher price means the value in the treasury is higher as well as the value to be distributed through ingame rewards.

In practice we need to see how much of the revdis ILV is retained vs how much is sold. I think if we see something crazy like only 50% of revdis ILV being sold then its a no brainer to distribute ILV because of how much it will impact the token price.

[onyx flower]

1% fee for dex swap and allocate treasury to do liquidity, pay revenue as eth

Decision needs to be made before 1 year lock ups run beyond the epoch incentives

[brisk surge]

well theres no need to support liquidity if revenue is in ETH. To me thats the main benefit of ETH distribution.

[onyx flower]

Liquidity still needs support so people can buy the token on chain, 1% fee for uni3 pool with treasury as LP is probably enough

[brisk surge]

might as well just maintain the $8 million ish of liquidity the treasury is already providing in the sushi pool. That should be sufficient for most retail needs and anyone who wants massive orders filled will just have to go through a CEX.

[craggy field]

So nobody cares that:
If people hold ILV and get Eth, then ILV won't have to ever be traded. I don't care about the price going up due to people holding the token and a constant buy pressure from the treasury.

The price of ILV will also go up if you know that you get X Eth per timeframe. But in the case of ILV being distributed, people will aim to sell ILV to others so that they can reel in actual funds. People are forced to sell ILV if they ever want to take money out of the system.
In the second scenario you don't need to sell any ILV and instead sell your Eth, so there doesn't have to be any ILV open for the public. Stakeholders can just hold onto all their ILV and you get all the rewards in Eth.

I would prefer people always trying to sell ILV than having no market for ILV at all and centralising the power as people step out of the project and the finite few buy up the tokens those people sell.

If noone cares then i'll stop trying to use that as an argument 😄
Nvm me then.

[onyx flower]

Ilv is needed to stake and get revdis. Treasury can provide liquidity and even crank up the fee to 1%. I'm trying really hard here to understand you. If you could try again in just a couple sentences it would help

[brisk surge]

I think theres some validity to maintaining a trading environment around the ILV token. Creating higher volume around the token means that there needs to be more liquidity in circulation to facilitate that volume. This means more ILV locked in the LP but also more ILV being held in a liquid state by CEXes and traders.
Some folks seem to focus only on the ability of ILV to produce revdis and forget that it also has value in a speculative sense. While ETH distributions simplify the process a little bit and add a lot of stability to the price of ILV, in the long term the ILV cryptocurrency would see a lot of success from higher volatility and volume around the token in the same way that other cryptos do.

[last sky]

https://tenor.com/view/lets-go-the-rock-rock-go-rock-lets-go-lg-gif-18455293

[cursive yew]

Waited a long time and happy to finally own a piece of this awesome project

[hollow trail]

Good for you

[wet ingot]

Thoughts on a separate 'Liquidity Fund'?
I'm still pretty new to crypto, so things may not work as I describe, but I came up with the following:

• A Liquidity Fund is set up and receives a portion of Dis (either by staking tokens initially gifted by the treasury or getting a flat percentage before Dis is distributed to stakers).

• The liquidity in the SLP is monitored, so that only when the the liquidity drops below a certain threshold (likely a multiple of (monthly / yearly) Dis), the fund swaps some -enough to bump the liquidity up to acceptable levels- tokens for ETH and stakes in the SLP. This stake should have a weight of 0, as the Fund should not receive its funding through yield farming and additional Dis. The stake of the fund would only siphon some trading fees.

• When liquidity returns above the certain threshold, the Fund can start to pull out funds from the SLP, to minimize the value (fees) extracted from the SLP at the (short-term) cost of stakers.

• Every period of time (epoch / year), the value in the Fund gets compared to last period's Dis. If the funds in the Fund are considered to much, excess is sent to the vault to be distributed to the stakers.

Note: There are some (temporary) deflationary implications with the '0 weight' and the Fund holding unstaked tokens, but they are not central to this subject.

Now, I am not very knowledgeable about liquidity pools and liquidity-volume or liquidity-TransactionSize ratios, so maybe this would provide not even close to the necessary liquidity without sacrificing a huge amount of Dis.

Sorry for the Great Wall of Text.

[hot lynx]

Current stakers need to not be disadvantaged as they are locked into a low current rate imo

[pure agate]

Could this logic work?

*Step 1
Game creates ETH revenue.

*Step 2
We check if the current SLP liquidity is above or below (x) level.

_Step 2, Case A (Liquidity is below (x) level):
ETH revenue is converted to SLP and added to the liquidity pool until the desired (x) level of liquidity is reached.

_Step 2, Case B (Liquidity is above (x) level):
ETH revenue is used to buy ILV from the pool and then distributed to the stalkers, until either ETH revenue is depleted or liquidity is depleted below (x) level.

[gloomy gazelle]

Revenue turned into liquidity makes it possible for a significant portion of the value of that revenue to be taken by anyone that has enough tokens to make a splash in the liquidity pool.

The other issue is that to get sushi liquidity provider (SLP) tokens there needs to be enough ILV in the pool to swap for the 50:50 eth/ilv

[pure agate]

Right, thanks. I suspected there was a way to exploit that logic. Couldn’t be that simple 😂

[gloomy gazelle]

Liquidity for AMMs has apparently been an issue from their beginning. And I’ve not been around crypto long enough to see all different novel solutions.

[tulip folio]

I'm in favor of ILV revdis, but I don't see that as an argument for it.

If nobody is willing to sell ILV because they "have enough" and can just sell their ETH, then in the markets where you can buy ILV the price will skyrocket. At some point, the price of ILV would completely outpace the value of revdis you can generate from it, and people would sell. If I could earn $120 a year in revdis or sell one ILV for $10000, I'm selling the ILV. You can make far more than 1.2% elsewhere.

For me the biggest reason to distribute ILV is that you get a sort of "first mover" advantage. If it takes effort to sell the revdis, then by default some revdis won't be sold.
Some will just be accumulated dust and not worth selling.
Some will be lost due to forgotten keys.
Some will be on a compromised (hacked) wallet where all ETH gets drained instantly, but the hacker doesn't even know/care about the staked ILV that is effectively permanently locked away.
Think of it like guaranteed ILV burn and guaranteed appreciation.

On the flip side, if we distribute in ETH then people will by default hold ETH or sell it for fiat, and a lower amount of it will end up in ILV than if it was distributed as ILV.

[hollow trail]

Yeah i agree with that

[craggy field]

The argument that the price may skyrocket regardless of revdis may be true. but then again, you would need the liquidity on that platform to sell a token worth 10K. Wouldnt that be an issue again if there were barely any trades happening because people hold their ILV for more Eth? Idk im just throwing things around 😄

Im thinking close to 0 trades happen -> 0 liquidity on most platforms -> nobody will be able to buy or sell ILV

If that is an ill-informed thought then please enlighten me 🙏

[cyan rampart]

I've read through this, and this would work, but again, it's at a cost to the DAO and ILV stakers, and significantly complex to implement.

So the initial cost is some portion of Treasury, or some portion of revdis. Then, whatever portion you leave sitting staked in the hypothetical liquidity fund isn't collecting revdis/yield (skipping yield is fine, but this Fund should collect revdis - Treasury ILV are currently eligible for revdis, and so if this is funded by the Treasury, I'm not sure why we'd leave revdis out for this chunk of tokens).

If the threshold for liquidity is clearly defined, this opens up the Liquidity Fund's swaps from ILV to ETH, and back again, to sandwich attacks. If it's well documented that at say, $5M of liquidity, the Fund would add liquidity (if passing the threshold downwards) or remove liquidity (if passing the threshold upwards), someone would frontrun the transactions due to the swap from ILV to ETH, or from ETH to ILV.

Sending the excess to the Vault makes sense if this is funded by general revdis. If it's funded initially by the Treasury, excess could just remain in the Treasury.

To me, it's mostly a question of whether the costs associated with this, the additional development required, the smartcontract security risks posed by complex contracts and the added potential for sandwich attacks outweigh the benefits.

I think something like Mayakovsky suggested, where the DAO's currently provided liquidity is just moved to Uniswap where a 1% fee is possible, would be sufficient to facilitate trading, if we are talking in the context of paying out revdis as ETH. If we're talking about the current paradigm, again, does all the added effort, complexity, development time etc. outweigh the simplicity and security of just paying out revdis as ETH?

[cyan rampart]

I'm just raising this because I think it's interesting, but by the line of logic you're following that there would be borderline no liquidity, and thus no ability to trade.

Why do you reckon there's a sILV2/ETH pool on Uniswap?

My understanding is that people who are generating lots of sILV2 want to sell it, and so created the pool to facilitate trading. They also collect fees. I think to some extent, this would always exist, at a minimum, for a token like ILV. In the scenario you describe (i.e. price increasing, most people holding until some high price), someone with a bag of ILV hits a point where they want to sell, so they create a high fee pool on Uniswap (or whatever Defi exchange), and facilitate their own sales.

I'll acknowledge that the sILV2/ETH pool isn't extremely deep in liquidity most of the time. However, it doesn't really have to be if it's not required to handle daily vault transactions.

[cyan rampart]

This is a great point in favour of revdis as ILV. The accumulated effect of lost/forgotten/dust ILV over the course of years is definitely something that should be considered. In a best case scenario where ILV is around for 20 years+, this effect is appreciable. As an example, something like 20-30% of all BTC is expected to have been lost, and BTC has been around since 2008. So that's over 14 years. Even half of the low end (10%) would be a bigger effective burn than I expect sILV2 to remove from the max supply.

[brisk surge]

Lost wallets could end up being a huge factor. Its even more impactful for ILV than it is with BTC because if those lost wallets are staked, they continue to accumulate revdis over time instead of just losing the initial balance.

[gloomy gazelle]

https://tenor.com/view/ilv-illuvium-andrew-wall-emotional-damage-gif-26318274

[wet ingot]

I agree that something like this should definitely not be a first choice, but if the pool were to dry up, something like this could potentially contribute to a solution. It would need some more work; you raised some very valid concerns.
Maybe moving the pool to Uniswap incentivizes enough liquidity to be provided, such that revdis can be paid out as ILV.
If all that fails, we could indeed move to paying out revdis as Eth.

[pale stump]

How to convert slp to ilv and eth?

[cyan rampart]

#🥩〕staking message

You'll want to use Sushi 1.0 (found in Explore Apps)

[pale stump]

Screenshot 2022-11-22 at 01.22.23

still don't know how, it doesn't work

I met the same problem

[cyan rampart]

Try clearing browser cache first.

If that doesn't work I'll start a thread for us.

[pale stump]

too difficult to do the process. Failed again

[rain plaza]

bloodbath

[gloomy gazelle]

This was successfully resolved in a private thread. Hurray for blickter

[hot vine]

Whats the Apr for eth/ilv right now ?

[final steppe]

Here's a screenshot of the two pools at the moment:

[gloomy gazelle]

I feel like 10% is an increase from my last look.

Very interesting.

October 30 rates

[hot vine]

They swaping to eth ilv pool i guess

[gloomy gazelle]

Yeah seems likely

[pale stump]

Yeah, i love this community. Everyone is kind and wiling to help each other.

[fair wharf]

Are people actually for this illuvitar rev dis change from instead of going to stakers, to the team?
If “everything is good”, and “we have many means of generating revenue”, and “the revenue from illuvitars likely wont substantially increase the team’s runway”, then why is this even a question?
Dont change rev dis.
It’s a huge decision that personally, i feel Vetemor and TSG (as much as i love their content) have minimized, and marketed as the obvious option.
I think it’s the opposite. Changes to rev dis should be last resort, not a preventative measure. @ me with your thoughts

[cyan rampart]

There's ongoing discussions about this here: #1042057080141516821 - You're free to chat about it here ofc since it is staking related, but people have gotten into specifics of exactly what the impacts of proposed changes could be, and nothing is really finalized, it's still in the ideation stage. You should absolutely contribute your thoughts on the matter.

[brisk surge]

So basically Kieran has said the team wants to raise a minimum of $10 million to add to the cash reserve and extend the runway. That raise is going to happen, we just need to decide whether that happens by selling treasury tokens or find another way to raise the money. Myself and a lot of other community members do not like the idea of the treasury selling tokens at such low prices.

If illuvitars did $10 million it would be from $1-2 of revdis per token. We could instead forego that small amount of distribution and allocate it to the treasury instead so that we wouldnt need to sell tokens.
IMO this is a no brainer because the treasury is a vital part of keeping the DAO funded long term. With the amount of tokens we would sell for $10 million today we could raise $100million or more if we can wait until the market recovers and the game launches. That means much more money to invest in development and marketing over the long term which should get us a better product and higher ILV price.

[cyan rampart]

This is a pretty succinct summary. Additionally, it's been floated as an option that there could be a threshold at which revdis stops going back to the Treasury, basically setting a target amount of runway required to guarantee X months of development, based on the burn rate of the past months. That way revdis would go to the Treasury up to the target, but would go to stakers beyond the target.

[cyan rampart]

__Sushi SLP Liquidity Removal: __
You can remove liquidity using Sushi 1.0 or Sushi 2.0.
Sushi 1.0 Method:

1. Check that you hold SLP tokens in your wallet. The contract address can be found via #🔗〕helpful-links .
2. Navigate to Sushiswap via #🔗〕helpful-links
3. Click "Explore Apps" and navigate to Sushi 1.0.
4. Under the Liquidity Tab, navigate to "Pool".
5. Connect your wallet. Choose your ILV-ETH position (if you have multiple LP positions)
6. Click "Remove".
7. Approve the transaction to remove liquidity.
   Sushi 2.0 Method:
8. Check that you hold SLP tokens in your wallet. The contract address can be found via #🔗〕helpful-links
9. Navigate to Sushiswap via #🔗〕helpful-links
10. Click "Explore Apps" and navigate to "Earn"
11. Connect your wallet.
12. Click on the ILV/ETH Pool.
13. Click "Withdraw".
14. Approve the transaction to remove liquidity.

Sushi 1.0 Method Visual Guide:

[cyan rampart]

Sushi 2.0 Method Visual Guide:

[gloomy gazelle]

I’ve been thinking of doing a remake of rahlord’s staking video. It’ll have to wait until after my vacation though.

[cyan rampart]

@final steppe Had to remove your post to get enough images in, but good call ❤️

[midnight cove]

Given that SLP staking gets 80% of the staking pool rewards, why are there so many more ILV staked than SLP? About 10x ILV vs SLP (well, 20x, but SLP costs twice as much).

[brisk surge]

The vast majority of staked ILV is the staking rewards that are in their 12 months vesting period.

[midnight cove]

Ahh, that makes sense. Thanks!

[clear cape]

Whos 'they', people unlocking?

[clear cape]

Yep, strong summary

[fleet island]

I’m pretty bad in estimation, how many sILV will be per day if we stake like 100 ilv ? Is it 100 * 10% = 10 \365 ?

[cyan rampart]

Yeah it would be 10 rewards per year on a deposit of 100 ILV if the APR were 10% and didn't change (ignoring any compounding from claims inside that year).

[valid geyser]

When the vesting period ends do we have to withdraw and restake or will it still be making rewards ?

[gentle pumice]

you don't need to restake

[gloomy gazelle]

That’s my assumption. When ILV rewards unlock move it into the higher yielding pool. Mostly based on personal experience. But why hold in the 8% pool when you could hold in the 80% pool? There are reasons to choose it to stay there but many unknowns.

[valid geyser]

Great, thanks

[valid geyser]

Will I still get the same weight of 2.0 on the unlocked SLP stake ?

[cunning perch]

Whatever is unlocked and not withdrawn, will hold the same weight as before

[heavy eagle]

Are pending rewards compounded with your initial stake? Or do you have to claim the pending rewards first, and then vest in order to earn additional staking rewards?

[gloomy gazelle]

Claim pending or else they are uncounted.

[woven ibex]

Rewards from staking have to be manually claimed and GAS fees for those transactions have to be paid:

• When you stake ILV yield farming rewards start piling up for you
• You claim those rewards whenever you deem the pile to be big enough to justify gas fees
• If you claim sILV2 you have it unlocked right away (sILV2 is only usable in game as a substitute currency for ETH outside the marketplace and the Leviathan Arena)
• If you claim ILV then that batch of ILV gets locked for 12 months and automatically staked in the ILV pool with a token weight of 2.0 for compounding effect
• New rewards start piling up....rinse and repeat

NB: ILV paid out as part of Illuvium’s Revenue Distribution have to be claimed as well but are not subject to a locking period.

[valid geyser]

Brilliant thanks, means I don't need to do anything 🙂 😀

[cunning perch]

Yep. Unless you wanna cash out

[heavy eagle]

Thanks, I'll claim now. Is there a way to add rewards to SLP, or will it just vest for 12 months with ILV pool rates i.e. APR:9.89%?

[gloomy gazelle]

Claimed Rewards are only in the ILV pool. Once the 12 months is over you could withdraw them and do whatever after that. Or just leave them earning in the ILV pool.

[heavy eagle]

Ok thanks for the info👍

[zinc tangle]

Gm guys need some help to migrate form v1

[gloomy gazelle]

Opened a thread

[plain jasper]

Anyone know the % of revdis going to ILV/ETH stakers and % going to ILV stakers?

[elder dawn]

Its a per token basis. in theory, they are nearly equivalent per ILV, and is based on the amount of ILV in the SLP at the time of distribution. Right now, an SLP is 5.63 ILV.

[plain jasper]

Gotcha thanks

[sly kindle]

Thanks for that info Deraji, I was mostly in the dark right now on how much ILV I had with my SLP

[elder dawn]

the easiest way (to me) to check it is to search the SLP token address (in #🔗〕helpful-links ) on zerion.io. In the Underlying Tokens section, it gives a current breakdown of how much ETH and ILV are in each SLP.

[sly kindle]

Thanks, I'll check that out!

and bookmarked

[karmic willow]

Hi all
Is there a link where i can learn everyhting i need to know about staking?

I bought some ilv on binance and i would like to stake them

[cyan rampart]

Hey Remi, DMs are scams, so be wary of that.

If you're holding ILV on Binance, you'd want to transfer the ILV to a wallet you own, at which point you could visit the staking website via #🔗〕helpful-links and stake them. There are some resources available pinned here, in #🥩〕staking , there are a few Medium articles, and there's this video that's good to watch if you're new. If you have any questions, feel free to ask. https://youtu.be/_n-XDMkxYLM

[karmic willow]

Thank you for this very detailed answer!
I'll check this tomorrow, time to sleep!

[broken herald]

So how much time is there left for ILV staking rewards to be distributed?

i see that we are at epoch 36 of 78. Does it mean we have 78-36 = 42, times 2 week per epoch = 84 weeks left?

[gloomy gazelle]

Sounds right. End of june 2024.

[broken herald]

Thanks

[thorny haven]

Hey guys, does anyone know how much the staking pool apy is calculated and how it drops in apy overtime exactly? Thanks 🙂

[candid jasper]

I really wonder what happens afterwards

has the team any plans to buy up some ILV from the market to start a new staking mechanism after June 2024? 👀

[open valley]

Norty norty

[gloomy gazelle]

That’s what vault distributions will be about

[woven ibex]

ILV is not needed for gameplay in any way. Instead, it has three main functions:

Governance:
Together, we have the power to shape the future of Illuvium through our community collaboration on game improvement proposals and electing the initial model of governance, the Illuvinati Council.

Liquidity Mining:
Here, you will gain more ILV (or sILV2). Additional ILV will increase your voting power in governance & increase your share of vault distributions.

Vault Distributions:
When you stake ILV, you share in Illuvium's success and earn a passive income of additional ILV, funded through in-game purchases and fees. Vault distributions will only be available from sales once the game and Illuvidex launch.

[candid jasper]

aight, thanks!

[elder dawn]

Check out lelahels dashboard pinned here. He has a graph of daily rewards per token, which is more meaningfully than apy. That will give you a feel for how it's trending. #🥩〕staking message

[elder dawn]

If you really want to know how apy is calculated, dm me and I'll send you one of my articles on it (which also shares why apy is dumb, particularly for the slp)

[ashen flax]

Wow thats a document ☺️

Slightly off topic in this channel but...
A) Monthly In-Game Revenue 5% to land owner <== still this way?
B) How do this 5% been spread to the different tiers?

[elder dawn]

Its the sale of fuel. Players pay for fuel from the pool, the dao adds 95% of the fuel, the land owners add 5%. If you don't sell fuel generated by land, you get nothing. It's a game within a game. Are the fuel prices where you want to see, or wait until they go higher?

[ashen flax]

Ah wow! Interesting! Think I got it

So i dont sell the fuel to anyone p2p, I sell it to the pool and all others have to buy it from the pool as well?
The fuel gets its price from supply/demand

But not sure if i got that:
All the time the DAO supplies 95% of the fuel so land owners just make 5%? (and this 5% actually make the price?!)

And this 95% will be used to finance the team and staking rewards?

[elder dawn]

The 95% is in game revenue for revdis. The pool is intended to be like a typical balancer pool, and price can float +/- 25% I believe. There are boundaries on it so the game doesn't become prohibitively expensive (or cheap)

[ashen flax]

Got it! So they will be more focused on holding the prices within a certain range than having a fixed supply by them

[swift spindle]

I just tried claiming rewards as ILV and it failed? Never had this issue before and claimed several times

[regal marten]

It failed for me as well for 2/10 times on average. I never bothered to investigate, but it looked exactly the same. Trying again fixed it.

[swift spindle]

Interesting... Just tried again and yup, success. Very odd. Thanks for letting me know 🙂

[regal marten]

No prob! I've been there 🙂 Very curious on what causes this though, it must be something in the smart contracts I think? It's clearly an execution reversal.

But I'm no smart contract dev so who knows.

[small island]

staking site seems down (in case this is unexpected)

[small island]

good again

[civic schooner]

hi, what should i do when the eth/ilv unlocked?

[brisk surge]

Itll continue to earn rewards as long as you dont withdraw

[civic schooner]

with same apr?

[brisk surge]

It has the same stake weight. So if you locked for 12 months itll stay at 2.0 weight. APR is always variable

[civic schooner]

so it is better not to do anything

[brisk surge]

yeah no need to re-stake or anything like that

[civic schooner]

got it bro. thanks

when will the staking ended?

[brisk surge]

july 2024

[proper prairie]

Wow the ILV Only Pool APR dropped quite hard? wasnt it around 9-10 % all few days ago, and no 5? 😄 whatt happened there? some whale stacked ILV only?

[spark dock]

how often should I claim the rewards?

[ember ginkgo]

That's up to you, gotta make sure it's worth paying the gas

[hoary marten]

Noticed the same, the SLP pool tvl has decreased quite a bit as shown from the dashboard but the ILV pool seems unchanged... Maybe there's a UI delay

[pure agate]

-7386 SLP unstaked in the last 7 days and +60074 ILV staked in the last 7 days. So it might be that a bit of the SLP has been moved to ILV pool?

[brisk surge]

Does it go down 3% every 2 weeks or something? When yield program end?

[gloomy gazelle]

It seems like the thing Timmey noticed with the ILV only pool APR down at 5% was likely a UI glitch.

[brisk surge]

Phew! Otherwise yield program be ending before Christmas

[gloomy gazelle]

So it’s not 3% taken away from 100% APR. It just takes the amount of ILV tokens being distributed every two weeks and multiplies it by 0.97.

[brisk surge]

Ohhhh. That's genius

[sly pelican]

Once my SLP vesting period ends how do I turn SLP back into Eth and ILV again? been a while

found it

is it worth waiting? obviously it's been wrecked like the market

[lavish garnet]

how much is it
the minimum for staking?

[cyan rampart]

There's no minimum amount to stake, but you do need to consider gas fees etc. The minimum lock period is 1 month.

[cyan rampart]

If you leave SLP staked, it'll continue to generate rewards, so it could be worth waiting. It's completely up to you of course.

[native delta]

So if I stake right now and lock for 12 months, I get 10% apy plus share in revenues?

[cyan rampart]

That's correct. The APR does decrease with time though, and it's not locked in, so it would decrease over the course of the year. You would be eligible for revenue distribution.

[native delta]

What percentage of the revenue do stakers receive?

[cunning perch]

Any ETH that is used in the ILV ecosystem will be used to buy back ILV and it will be distributed to stakers.

[native delta]

Stakers get the amount proportional to how much they stake relative to the pools?

[cunning perch]

Pool weight doesn't mater, Token weight does. The longer you stake, the more you get

[native delta]

Ok thanks. This is distributed daily or monthly?

[cunning perch]

It's random so no one can front run it 🙂 but it's several times a week

[native delta]

This includes selling of illuvitars, land, etc?

[cunning perch]

any ETH spent anywhere, Illuvatars, land sale, etc.

[ashen flax]

All the items you can buy within the game are priced in ETH right?
But they (all?) can also all the time be bought with vILV as well, correct?!

Or will it be like with the land right now and you can just price them either in ETH or USDC?

And to make the connection to the staking channel...
All the token will then be used to buy ILV and redistribute this to the stakers?!

[ember ginkgo]

In-game purchases are made in ETH or some things can be payed with sILV2.
vILV is the calculation made based on the amount you have stakes to vote on council elections.
You can only buy land from other players atm so that's why it's only ETH or USDC.
All the ETH that was used to buy land has already been used to buy ILV and distributed to the stakers.

[ashen flax]

Thank you Fraggy!

[magic plover]

I just used the lehalel sheet for the first time in like 8 months; surprised how little the claim frequency impacts the # of ILV one year from now

[gloomy gazelle]

Yeah the ILV only pool has pretty low APR.

Fun tool though right?

[magic plover]

I love how many features it has, but it is overwhelming. For my usecase a simplified sheet of entering the date, gas price and my ILV details and it spits out the optimal claiming frequency would be sufficient

[gilded dove]

Is sliv2 worth it for staking rewards?? and if it is what is the reason.

[final steppe]

That would depend on your goals for your investment.

When you spend in game, the in-game currency is ETH which is used to buy any fuel you need. sILV2 can be spent on your in-game fees instead of ETH/fuel. sILV2 can also be used within the ecosystem sales such as the Land sales and the Illuvitar sales. Whenever you spend sILV2 in-game or within the ecosystem's sales, its value is 1:1 with ILV in terms of price.

[gilded dove]

Are you getting silv2 rewards or ilv?

[final steppe]

Rewards can be claimed as either sILV2 or ILV... it's up to each staker individually 🙂

If you're asking me personally...

https://tenor.com/view/both-why-not-gif-24288318

Again, it will all depend on your personal situation and what your goals are. Never hurts to spend some time thinking about that and mapping out your plan for the upcoming months/years!

[ashen flax]

Do you guys claim your rewards regularly?
I mean claiming 1 ILV with 4$ fees doesn't make that much sense (guess it would with a ILV price of 1k or so ^^)
Any opinions on that?!
(Luckily will have this on L2 on day )

[brisk surge]

Now that the APR of the ILV only pool is so low its best not to claim too often. Im not claiming more than once a month right now. It really depends on the size of your stake though.

[ashen flax]

hm. I guess ill do it when the fees are under 1%
(so currently about 10 SLV @ 10gwei / $4)

nearly impossible to guess where the price is in 12 months and I plan to restake them anyways

[blazing path]

I think it depends on how much you stake… but personally I get about 1 ILV a week and I claim every 2-3 weeks. I’d probably tell someone else to claim every 10-12 weeks… but I just like doing it when I see the rewards and low gas lol.

There’s really no need to claim every month… I think quarterly makes the most financial sense.

I started the 3 week claim thinking someday ILV will skyrocket and I’ll want to have this available to withdraw if I need it.. but that’s dumb… I’m in for the long haul so I should save the gas.

[carmine oyster]

The only good point I see to this, win flexibility if you consider to sell some, as those are lock 1 year after claim.

[shy wasp]

is there an unstaking button? or does the staked ILV automatically return back to your wallet after the staking period?

[cunning perch]

You can check the vesting tab. Once unlocked, you can withdraw if you want. Nothing is automatic. you gotta pay gas if you wanna withdraw.

[shy wasp]

Thank you

[gloomy gazelle]

Once the lockup period ends anything still in the staking protocol keeps earning. Once unlocked you could choose to withdraw. Hopefully you already understand how claiming your rewards works.

!claim

[woven ibex]

Rewards from staking have to be manually claimed and GAS fees for those transactions have to be paid:

• When you stake ILV yield farming rewards start piling up for you
• You claim those rewards whenever you deem the pile to be big enough to justify gas fees
• If you claim sILV2 you have it unlocked right away (sILV2 is only usable in game as a substitute currency for ETH outside the marketplace and the Leviathan Arena)
• If you claim ILV then that batch of ILV gets locked for 12 months and automatically staked in the ILV pool with a token weight of 2.0 for compounding effect
• New rewards start piling up....rinse and repeat

NB: ILV paid out as part of Illuvium’s Revenue Distribution have to be claimed as well but are not subject to a locking period.

[royal forge]

Should i stake ilv or slp, i know there are some risk with slp but i dont understand what the risk is

[pure agate]

Try to search in google for the term "Impermanent loss".

[gloomy gazelle]

This article may be useful. #🥩〕staking message

[abstract wagon]

Hey 🙂
I'm still not that clear about the staking after the unlocking.
I have a position (claimed reward) which just unlocked and is ready to withdraw. It is a V1 position (no have no clue if this makes a difference to V2).
Do I have to withdraw and stake it again to continue to gain rewards or can I just leave it how it is now and keep getting rewards?
Same question for naturally staked positions on whatever pool.

[ember ginkgo]

You can just leave it

[abstract wagon]

Thank you very much 🙂

[native delta]

Stakers will also get a distribution of all marketplace fees?

[gloomy gazelle]

Eventually yes

[cursive nest]

Im trying to unstake and on sushiswap and uniswap it shows that there is no liquidity for the SLP token. Is this true? That im stuck with a worthless liquidity token?

[ember ginkgo]

Check the pinned messages how to remove. Don't listen to any DM's, these are people sending you fake links and trying to scam you.

[onyx flower]

You have to split the slp token into ilv and eth

[tulip folio]

What I assume "no liquidity" means there's no pool where you can trade SLP for ETH or USDT or whatever. Sounds like it's looking for a SLP/ETH pool or something. So no there's no liquidity for the SLP token because nobody trades Sushi LP tokens.

Instead your SLP allows you to remove your liquidity from the ILV/ETH pool, which takes your SLP and gives you back your ILV and ETH.

[brisk surge]

Hello! New in here. Is the game available to play?

[final steppe]

Hey there, welcome in! The Arena is currently playable in the private beta-- if you're interested in testing, see below. Also keep in mind this is the #🥩〕staking channel so please head over to #💬〕general for general inquiries about the game 🙂

[woven ibex]

You can register for the closed beta through this link: https://play.illuvium.io/arena

You can improve your chances of being selected for the beta by:

1. Becoming a ranger (Level 5 in the server)
2. Grabbing the Twitter Raider role in #1038034977864032276 and promoting Illuvium on twitter
3. Participating in (and winning) our weekly trivia competition

[brisk surge]

Looks like a fail game.

[ember ginkgo]

lol

[tulip folio]

"I'm new here" to "fail game" in 8 seconds flat. You try looking for gameplay videos on YouTube? Look for the ones in the past 2 weeks.

Betas of the overworld (open world) and the city builder are about to release.

[ashen flax]

Too much effort for someone who cannot even read channel names 🤷‍♂️😂

[cursive yew]

Where can i find that again?

[magic plover]

pins, scroll down

[lost trench]

You decided that in 5 minutes. That's some fast DYOR. 😂

Seriously, do yourself a favour and research it further. Read the tokenomics. Watch some YT videos of game play and of Kieran Warwick.

[cerulean flower]

Why aren’t you green if you are new here….why I am green? I want my color, I want to be blue…can I be blue?:d

[small patio]

Think the colour or you name is to do with the roles you have

That’s why I am dark green as I am only a survivor, while your light green as a ranger

[lilac dust]

Is chainlink unstakable now?

[final steppe]

Hey there, it can still be unstaked. I see Arash responded to you in another channel but just providing the link here as well, just in case 🙂
#❓❗〕community-help message

[radiant carbon]

If my ILV tokens are in my MetaMask wallet and I stake to the ILV pool, can I stay staked and move from MetaMask to a ledger wallet?

[lyric needle]

No you would only be able to move after the staking period and you would have to unstake to move.

[radiant carbon]

Ok Thanks

[brisk surge]

I'm trying to withdraw the staking rewards that have just been unlocked after 12 months (v1). 1) An error pops up with a link to view on explorer, but it just sends me to an error page. 2) The weight is 2.0 but the amount of ILV hasn't doubled. Does that not happen until it is actually withdrawn? Thanks in advance

[cyan rampart]

Hey Los, I'm going to start a private thread for us so we can chat about what's going on.

[glad musk]

Anyone got a video for getting SLP Tokens on the new Sushi interface? Last time I did it and the video content I've found so far are all Legacy interface which appears depreciated

[glad musk]

Got it, was able to figure it out

Prices just too damn tempting not to be loading up lol

[midnight cove]

Is sILV2 always burned when it is spent in-game as a fuel substitute?

[proper locust]

I staked 38.24 ILV on Nov 18 but till now it's not reflected on the dashboard. But I do see it on the recent transactions. Anyone an idea how to fix this?

Never mind. It's actually there.

[final steppe]

Yes, whenever sILV2 is spent, it is burned. This applies to in-game spending as well as the ecosystem sales such as the land sales and Illuvitar sales

[midnight cove]

@final steppe Thanks!

[vital inlet]

hey there, dumb question. I'm on staking.illuvium.io and I'm trying to figure out why the APR/APY is seven times higher on the ILV/ETH pool

in my understanding, ILV has no real utility - apart from staking revenue - as long as the game hasn't launched, is that the reason?

[cyan rampart]

!ilv This is the full list of ILV's utility.

The APR in the ILV/ETH pool is higher by design. There are a set number of yield farm rewards that are allocated to be distributed every 2 weeks, and 80% of those rewards go to the ILV/ETH pool stakers. The other 20% go to the ILV only pool. The original idea there was to incentivize people to provide liquidity.

[woven ibex]

ILV is not needed for gameplay in any way. Instead, it has three main functions:

Governance:
Together, we have the power to shape the future of Illuvium through our community collaboration on game improvement proposals and electing the initial model of governance, the Illuvinati Council.

Liquidity Mining:
Here, you will gain more ILV (or sILV2). Additional ILV will increase your voting power in governance & increase your share of vault distributions.

Vault Distributions:
When you stake ILV, you share in Illuvium's success and earn a passive income of additional ILV, funded through in-game purchases and fees. Vault distributions will only be available from sales once the game and Illuvidex launch.

[vital inlet]

Thanks for the explanation. I still have another question: I read somewhere that holding ILV is enough to gain voting power, is that correct? It's still unclear whether staking ILV removes that voting power or not. Or do I get voting power from staking into the ILV pool while the LP pool only provides liquidity mining rewards?

[cyan rampart]

Recently, IIP-26 passed, which requires ILV to be staked to gain voting power. You get voting power from either staked ILV or staked ILV+ETH (SLP tokens). SLP tokens are only 50% ILV by value, so that's how your voting power is calculated.

[vital inlet]

alright, so one staked ILV grants the same voting power regardless of which pool it is staked into, correct?

If so, I don't get why one would choose the ILV pool over the LP pool. What are the incentives of staking into ILV pool to compensate for its lower APR?

[cyan rampart]

vILV (voting power) is calculated by taking the square root of the ILV total. So 1 ILV = 1 vILV, but 25 ILV = 5 vILV, etc. You are correct that ILV tokens behave the same for voting purposes regardless of which pool they are staked in. Note than 10 ILV staked in the ILV only pool would be approximately $400 of investment, while 10 ILV staked in the SLP pool would require a total investment of $800 (since $400 of ILV needs to be paired with $400 of ETH to be provided as liquidity).

RE: ILV vs. LP - When you provide liquidity, your deposit is subject to impermanent loss. Basically, if the price of either of the 2 tokens you've provided changes drastically compared to the other token, you'd take a significant loss compared to if you'd simply held the tokens in the first place.

Additionally, a SLP deposit is only 50% ILV by value, and so it only receives revenue distribution on the ILV portion.

So the ILV only pool does have lower yield, but it also has a different risk profile than SLP, and receives more revenue distribution.

[vital inlet]

Okay, now it makes sense, thank you. Staking confirmed, happy to be part of this!

[sly kindle]

This has probably been answered numerous times so forgive me, but what factors determine the APY % for Staking?

[gloomy gazelle]

Basically it’s based on how many tokens are being distributed to the pool and how percentage of the total value in the pool does your deposit represent.

I’ll find some fuller explanations and share those as well.

[boreal cape]

Noob question. can I transfer my staked ilv to my ledger address while it is staked? I believe I can't just want some confirmation. 😅
sorry guys I posted this in #💰〕token but I think it's supposed to be here.

[gloomy gazelle]

This is an in depth article #🥩〕staking message

[sly kindle]

@gloomy gazelle Awesome, much thanks!

[gloomy gazelle]

No worries. I’ll open a thread shortly.

[gloomy gazelle]

APR for yield farm staking in the pools is variable, trending downwards.

Eventually the APR will go to zero. Because yield farming will be over. But that’s like 2 years from now. Before then it can technically go as close to zero as possible. But it can also technically go up. It’s variable. Here’s a little more of an explanation.

The rewards calculator determines current the usd value of your staked SLP and it determines the total usd value of all the staked SLP (taking into account any multipliers from locking such as 2x for 52 weeks). Then it determines what your percentage of the pool is. Then it distributes to you that percentage of the ILV rewards that are getting paid out during that block to the SLP pool (as part of the 2 week fortnight). The UI then calculates the USD value of the ILV rewards and is then able to display the APR. It’s a bit complex. But there are spreadsheets pinned in here that calculate it all for you.
However, the APR today is not guaranteed to be the same as tomorrow because in reality the value of the ILV tokens and the value of the SLP tokens and the total value in the pool (and therefore your percentage of the pool) WILL change almost constantly. Therefore the APR is variable.

APY is calculated using that same APR but adding what it would earn if compounded by claiming the rewards as ILV. When claimed as ILV those rewards are essentially staked in the ILV only pool and locked for 12 months so they have they full 2x weight. The APR in the ILV only pool does not vary as highly as the SLP pool because the rewards (ILV) are the same as the thing that was deposited (ILV).

The image below shows how many ILV is being distributed over time. We are already more than 1 year into this chart.

[gloomy gazelle]

This is a spreadsheet tool that has a lot of information that could be used. #🥩〕staking message

[sly kindle]

Extremely helpful! Not exactly a simple answer but that's because there's so much involved. This community is amazing though, especially creating all these resources and info!

[short raven]

Anyone stake on bakery swap?

[gloomy gazelle]

All the bakery swap stuff is a scam. I assume you saw a YouTube video about it. Anything that “actor” puts out is a scam. All the links are to fake sites looking to take your crypto.

[woven ibex]

DMs are scams

Mods and Team members will never DM you.
Never trust advice or links received in DMs.

Beta access, giveaways, and promotions are not given out via DM. Scams are designed to trick you into installing malicious software to gain access to your wallet or to convince you to enter your seed phrase into a website. Never give your private key (12 to 24-word seed phrase) to anyone.

Support is not provided via DMs

Support is handled publicly, or in threads within the Illuvium Discord. People offering support via DM are scammers.

Please follow the instructions pinned in #report-scammers to report bad actors so we can remove them from the server.

[ashen flax]

easy rule: When it looks too good to be real.... it's usually a scam 😉

[silk radish]

They are everywhere

[unreal prawn]

got a quick question (or maybe not quick): My staked SLP is about to unlock pretty soon. I plan on keeping it staked (why would you withdraw it now 😄 ) but what about the safety of the Tokens in case you guys would get hacked or something (crypto is full of that stuff)? Is their a way to make it more secure for me while staking? can i involve my hardware wallet somehow?

[cunning perch]

Hey. We always recommend using a Cold Wallet and not clicking on anything send in DMs and even in public without first making sure it's legit. You can just leave your stake there without withdrawing and it will still receive rewards, however, you still gotta be careful not to get hacked. Illuvium is a pretty secure platform and it's been made even more secure during the time it's been progressing. For now, it's only possible to withdraw, move to a Cold Wallet and then re-stake and re-lock, but when the possibility to move stakes without having to withdraw it is applicable, @worn turtle can let you know (NOT in DMs though. Everything is public. Better to turn off DMs altogether)

[worn turtle]

We have numerous audits done to ensure the safety of our contracts. That being said if something happens to a staking contract and you have your hardware wallet or a hot wallet, you still arent protected. The tokens arent in your possession at that point they are in the possession of the contract. So if contract gets drained so do your tokens. Staking is inherently risky but weve done everything we can to ensure our contracts are as safe as possible.

But like Arash says a hardware wallet is safest for storage purposes

[unreal prawn]

Okay, got it. Just wanted to know if there are maybe some options i didnt see or know about. Thanks a lot for the quick answer, guess in the end it comes down to my personal risk/benefit management. And yea, i know that you guys are doin your best to keep it safe but i do also know that the whole crypto scene can get pretty rough also on security levels. Cheers and keep up with your good work though!

[worn turtle]

I mean the safest to be there is general crypto practices to follow

!scam

[woven ibex]

DMs are scams

Mods and Team members will never DM you.
Never trust advice or links received in DMs.

Beta access, giveaways, and promotions are not given out via DM. Scams are designed to trick you into installing malicious software to gain access to your wallet or to convince you to enter your seed phrase into a website. Never give your private key (12 to 24-word seed phrase) to anyone.

Support is not provided via DMs

Support is handled publicly, or in threads within the Illuvium Discord. People offering support via DM are scammers.

Please follow the instructions pinned in #report-scammers to report bad actors so we can remove them from the server.

[worn turtle]

Never click on links you dont know

never connect to sites you dont know

[last hawk]

😱 😁

[craggy field]

https://tenor.com/view/ilv-illuvium-one-of-us-wolf-of-wall-street-gif-23354367

[torpid mortar]

Hmmm, might have to look into staking…

[brisk surge]

Cant see my staking balance on the platform. Is there any issue?

[ashen flax]

Works fine for me, (right) wallet connected?

The plan is to transition staking to L2/IMX one day right?
I assume the current locked/staked on Ethereum will not (/cannot) be immigrated?
Any timeframe for that?

[cyan rampart]

No timeframe for L2 staking as of yet, but I do believe that's the ultimate goal, yes.

[ashen flax]

Thanks for this fast answer! 🙂
Maybe this task is more a IMX task and they can work this out for us 😇 😁

[abstract wagon]

what did you do??

help me 😦

[ember ginkgo]

?

[abstract wagon]

I shame for myself... but please know the following:
That was all I saved for about 4 years and if you think it is right to do so... makes me so sad...

[craggy field]

Ahh seems like he got scammed by an impersonator.

[abstract wagon]

😦

[craggy field]

Do you remember who sent the first message Matthias?
If it was "fraggy" then that was a fakey because mods never DM first.

[abstract wagon]

I feel like I go to shot myself now

[craggy field]

I mean, that sounds like a terrible plan.
Losing money sucks but it isnt the end of the world 😅
Just take a deep breath, turn off discord and take some time off. There is always a way and time to make money again.

[craggy field]

to be clear, this is obviously not the time to jump for any opportunity. Emotionally and irrationally you will only lose more. There may be more people DMing you and telling you that they can help recover your funds. Those are all scams to set you back even further.

[abstract wagon]

makes me so sad...

I mean I'm a small earner and tried to participate a bit... and then there are people scaming the smallest ones

[craggy field]

Yeah I feel you man, we all got scammed at some point. Just toughen it out while reflecting! Everyone has a setback before they eventually make it.
You can feel down but don't let that feeling torment you.
You can still participate in the events and raffles, and you may even win a T1, T2 land :] crazier things have happened here!

[abstract wagon]

thx for the mental help

[ember ginkgo]

Already made a thread ⤴️

[ashen flax]

Hey guys, do claimed ILV also count as staked (and therefore produce rewards?)
Just discovered that the UI looks like they do (since they have a weight...)

[craggy field]

Claimed ILV will automatically be locked as "vesting" tokens for a full year inside of the primary ILV pool.
So yes, once you claim them, they will start earning staking yield as well!

Do note that they only start making yield áfter claiming. So you may want to claim your ILV occasionally when it makes sense.

The staking calculator by Lelahel in the pinned messages is a great tool to play around with! Claiming too often is not too beneficial because for the gas prices you could buy more ILV as well from the market. But never claiming may have you lose out on a tiny bit of extra ILV compared to buying it directly 🙂

[ashen flax]

Awesome that they are in the same pool! Makes me even stake more ❤️ 😁

[upper copper]

.

[arctic geyser]

Very good insight! I plan on staking ILV in the future 🙂

[gloomy gazelle]

!scam warning… keep safe

[woven ibex]

DMs are scams

Mods and Team members will never DM you.
Never trust advice or links received in DMs.

Beta access, giveaways, and promotions are not given out via DM. Scams are designed to trick you into installing malicious software to gain access to your wallet or to convince you to enter your seed phrase into a website. Never give your private key (12 to 24-word seed phrase) to anyone.

Support is not provided via DMs

Support is handled publicly, or in threads within the Illuvium Discord. People offering support via DM are scammers.

Please follow the instructions pinned in #report-scammers to report bad actors so we can remove them from the server.

[arctic geyser]

Am I scam?? I’m confused

[arctic geyser]

Not going to lie I’m just tryna get ranger role and open beta bro 🤷🏻‍♂️

[gloomy gazelle]

No I was just making sure you understood that DMs are scams. And that staking requires nothing special.

You stating that you will probably stake ILV soon likely means that you will be targeted by scammers sending you DMs.

[arctic geyser]

Gotcha thank you for that appreciate it

[keen verge]

I staked in ILV/ETH pool in v1, it’s unlocked so is it still earning any rewards? Or am I suppose to transfer to v2?

[mighty umbra]

!sushiswap

[final steppe]

Hey there, an unlocked deposit will continue to earn rewards. There is no need to transfer anything.

A while back, you did need to “upgrade” from V1 to V2… but your tokens stayed staked the whole time and they will still show a “V1” next to them in the Vesting tab.

[brisk surge]

Hello. There seems to be a big difference between the "staking APR" (which is >70% for 1 year lock) and the "daily ilv reward" APR (which amounts to only 50-55%). Is this normal?

[fair wharf]

Can someone clarify for me?.. if I use a meta mask account linked to my ledger, and I stake SLP with that ledger-linked metamask account, are the tokens im staking technically on metamask (vulnerable), or ledger (secure)?

[cunning perch]

Youe MM will be using your Ledger Seed. So even if the MM Hot wallet get hacked, your MM-Ledger is safe since it will only let the TXs go through if you confirm on your device. Unless you lose your Ledger Seed or make your MM-Ledger compromised.

Also, If you neglect Token Allowance (token Approvals), if the pool(s) have access to your wallet, regardless of using a cold/hot wallet, you will lose the token if the pool gets hacked, so make sure to constantly revoke permission.

[gloomy gazelle]

The data can be tricky sometimes. Occasionally the UI displays weird stuff as well.

If you want us to look into it we can setup a private thread. No one will send you a direct message. Don’t trust links or anything that “needs” your secret phrase.

[woven ibex]

DMs are scams

Mods and Team members will never DM you.
Never trust advice or links received in DMs.

Beta access, giveaways, and promotions are not given out via DM. Scams are designed to trick you into installing malicious software to gain access to your wallet or to convince you to enter your seed phrase into a website. Never give your private key (12 to 24-word seed phrase) to anyone.

Support is not provided via DMs

Support is handled publicly, or in threads within the Illuvium Discord. People offering support via DM are scammers.

Please follow the instructions pinned in #report-scammers to report bad actors so we can remove them from the server.

[brisk surge]

Thank you for the reply. I will wait few days to see how the numbers change, and if the APR still diverges, it would be great to look into it.

[gloomy gazelle]

This may be an interesting tool #🥩〕staking message

[brisk surge]

I'll take a look, thank you!

[fair wharf]

Thank you!

[brisk surge]

how can i swap my slp tokens back to eth

[ember ginkgo]

Check the pinned messages

[fair wharf]

Hello again, in my process of moving my stakes to cold wallet, I realize i dont know exactly what you meant by token approvals. For example, in order to swap for SLP it appears I have to approve access to my ILV as a precursor. When you said to revoke all the permissions to my tokens, is this part of what you meant, or no?

[cunning perch]

you can check Etherscan to see which pools have access to which tokens. You can simply open Etherscan, click on more, click on Token Approvals and search/connect your wallet to see the permissions. Those that have open permissions, means if the pool(s) get hacked, no matter if you are using a hot/cold wallet, if the funds are drained, so will yours. That also applies to NFTs.

[fair wharf]

I guess my question was, is there a way to interact with the pools (swap tokens), without approving access? Because it appears i cannot swap for SLP without allowing access

[cunning perch]

Nope. Approval is an important step and it's there for security. It's like clicking on "I am not a Robot" when logging in a website. That phrase checks your browser history to make sure you are not a robot and then lets you in. In this case, you approve the contract, meaning you allow the pool to touch your tokens. If you leave it open, it will have access to it. You can set a limit for it depending on how many times you are using that pool.

[fair wharf]

I see. So it is not inherently bad to approve access, you just wanted me to know the risk of utilizing the pools: If the pool gets hacked so do I. Thank you for the help in understanding this!

[cunning perch]

Well, it can be bad if the website you are giving approval to is a bad website. Like for example, you are using a cold wallet. You want to mint sth. That mint website gets hacked and you give it approval to access your tokens. It's gonna add a sweeper bot to your wallet and sweep everything. you gotta be careful what you give approval to. I personally don't give approval outside OS, Uniswap, or Sushi, and when I do, I personally revoke permission of them all. What's $1 to be safe? I'd happily pay it 🙂

[brisk surge]

Or, to not have to revoke permision, only approve the amount you are sending/swaping.

[brisk surge]

And, another point to remember is that any website is just an interface to speak with the blockchain. To be sure you interact with the correct smart contract, copy the address from metamask and check it on etherscan and other explorers.

[past yoke]

how to stake my illuvium i have 50? thank you

[cunning perch]

You can stake using the staking website in #🔗〕helpful-links watch out for DMs. They are all scams.

[woven ibex]

DMs are scams

Mods and Team members will never DM you.
Never trust advice or links received in DMs.

Beta access, giveaways, and promotions are not given out via DM. Scams are designed to trick you into installing malicious software to gain access to your wallet or to convince you to enter your seed phrase into a website. Never give your private key (12 to 24-word seed phrase) to anyone.

Support is not provided via DMs

Support is handled publicly, or in threads within the Illuvium Discord. People offering support via DM are scammers.

Please follow the instructions pinned in #report-scammers to report bad actors so we can remove them from the server.

[thorny haven]

Thanks brother added you

[brisk surge]

I took some snapshots for the ILV rewards and did detailed calculations to see what could be the cause, and it looks like my SLP from V1 is not accruing any rewards. Did someone else have similar issues?

[gloomy gazelle]

You did upgrade to v2 though right? You have something in the vesting tab that does NOT say v1…

Any DM is a scam

[brisk surge]

I did upgrade all many months ago. My V1 SLP says "V1" in vesting tab. Noted for DMs, i block them all :).

[gloomy gazelle]

The old v1 deposits will say v1 but should be earning.

[brisk surge]

I have deposits with different multipliers. I will withdraw those with the small multiplier and leave only 2.0 ones, hopefully this will help.

[gloomy gazelle]

That would impact it.

[brisk surge]

Sure, I will account for that. Have to check the smart contract on etherscan as well, maybe I can find some useful info there.

[gloomy gazelle]

Let us know if you get stuck and want some help confirming things. We can set up a thread.

[prime rose]

Do we have a staking caculator

[gloomy gazelle]

#🥩〕staking message

[little mirage]

anyone know how can I get back the money of SLP token, it worth 0.01 eth on sushi swap

[cyan rampart]

You don't swap it for ETH (you could in theory) - You want to remove liquidity per: #🥩〕staking message

[true coyote]

Gm!

anyone having issues with the vesting page? I can't see any of my old rewards

[near agate]

hey, i have to add liquidity on what pool on sushi please for the staking ? dont know if its ILV ETH or ILV WETH ? thanks

[cyan rampart]

!lp You want to provide liquidity for the pair: ILV/ETH

[woven ibex]

Providing liquidity is done via an ILV/ETH Pool on SushiSwap and requires multiple steps:

1. Buy ILV and ETH
2. After approving the Sushi contract you stake a 50/50 value ratio of ETH and ILV
3. You receive SLP tokens. (To see them, add the SLP contract address to your wallet)
4. Stake the SLP tokens through the Illuvium Staking App and set your lock period.

See #🔗〕helpful-links for official links.

[cyan rampart]

Hey Tommy, are you still unable to see your old rewards? I can start a thread for us if you're still having issues.

[fallow vapor]

guys was off the grid almost entire year and need help. Had like 4 ilv in my wallet (it was staked as far as i remember). When checked my wallet on debank i can see them but when connecting to the staking site i cannot see it anywhere. Tried to use search but didn't find anything

[final steppe]

Hey Marlo-- created a private thread to go over this. Don't trust any DMs you receive!

[fallow vapor]

👍

[mild tiger]

after my 12 months is up, if I just leave them, they continue gaining rewards correct? Or do I need to unstake and restake?

[cunning perch]

You can leave them. They still get rewards.

If you unstake, they will lose whatever privilege they had.

[mild tiger]

Ok, thanks !!

[brisk surge]

Hi, could we set up a thread to discuss my issue with SLP? Looks like I may need some help.

[cyan rampart]

I've started a thread so we can talk about this more. DMs are scams.

[woven ibex]

DMs are scams

Mods and Team members will never DM you.
Never trust advice or links received in DMs.

Beta access, giveaways, and promotions are not given out via DM. Scams are designed to trick you into installing malicious software to gain access to your wallet or to convince you to enter your seed phrase into a website. Never give your private key (12 to 24-word seed phrase) to anyone.

Support is not provided via DMs

Support is handled publicly, or in threads within the Illuvium Discord. People offering support via DM are scammers.

Please follow the instructions pinned in #report-scammers to report bad actors so we can remove them from the server.

[mild tiger]

Just for clarity, when you say “ If you unstake, they will lose whatever privilege they had.”
What “privilege” do u mean?
Like if they are weighted ?

[cunning perch]

Yes weight, receiving yield, receiving RevDis. You have to re-lock if you want them

[mild tiger]

Thx again!

[strange pond]

@cunning perch it seems like staking rewards are now accruing in real time and I can claim them as frequently as I like. Did it used to be different where I only accrued rewards at the end of each epoch and could only claim once I had accrued them?

[lean prawn]

Hey question since it’s my first time doing this:

I have been staking in the SLP pool and now have about 6.77 ILV in unclaimed rewards.

A) Does it matter if I claim it now? Or is there a benefit if I wait until the rewards are bigger (ie 8 ILV)? (ie. How much are transaction fees? To see if reward amount offsets the fee it costs to claim)

I know Deraji said in past as a general rule-of-thumb, it was good practice to claim every 8 ILV to justify fees. I think back in June gas fees may have been $75 per transaction but not sure how that changed now, and what would be a good general ILV amount to accumulate before claimimg? (NFA of course)

*I just want to maximize the amount of ILV I have. I’m not looking to cash out.

[cunning perch]

You have always been able to claim rewards when you liked. If you do ILV, it will be locked for a year. If you do sILV2, it will go to your wallet.

[strange pond]

So the reward epochs have nothing to do with accruals, but only dictate the total reward ejections for each epoch?

how frequently do rewards accrue then? is it once per minute?

[cunning perch]

You can use the pinned calculator to see what is the best time to claim. You can do it whenever you want though. Just remember, until you claim, they will not enter the one-year vesting period, meaning you have to claim so you can withdraw a year later. You can claim sILV2 if you want. It doesn't have a vesting period and can be used sd a currency besides ETH (with limitations)

[cyan rampart]

It does matter if you claim now, but it doesn't matter much. Claimed rewards are staked in the ILV Core Pool for 12 months, so they are at approx. 8% APR, which is much lower than it was when 8 ILV was a "go-to" number to claim at.

Essentially, you're balancing gas fees against the APR of your claimed ILV. At 8% APR, 10 ILV would generate 0.8 ILV over the course of a year. Keep in mind the APR trends downwards over time as emissions slow down. You can always check the cost of a claim by starting a claim transaction, but not approving it.

[cunning perch]

Rewards are each block (15 seconds-ish). You can claim as many times as you want. There was just a pause in Jan-Mar that you couldn't do anything. Atm, you can claim whenever you want

Better explanation from @cyan rampart

[cyan rampart]

Sorry, I had 90% of it typed out but got distracted elsewhere by a ping lol

Figured I'd fire it out anyways

[cunning perch]

No worries you are the man with numbers haha 😎

[lean prawn]

Okay thanks so much for the input! For the pinned calculator you’re referring to Deraji’s calculator spreadsheet, correct? (So I know I’m using the correct / updated one)

[cyan rampart]

I usually use Lelahel's calculator: #🥩〕staking message

Feel free to use whichever one you want though.

[strange pond]

@cyan rampart bumping this. When I say ejections I mean emissions

[cyan rampart]

This is going to be a bit long.

[lean prawn]

Okay thank you for the insight on how much it matters nowadays (much less now due to 8% APR). I didn’t know I could check the claim transactions by starting it but NOT approving it. I’ll do that to check 👌😎

[cyan rampart]

The basic idea is that 3M yield rewards are distributed over 3 years. Emissions started on July 1, 2021, and will end on July 1, 2024.

Every 2 weeks (2 weeks being a reward epoch), the total rewards distributed decrease by 3%.

Just as an example, let's look at the current epoch's breakdown.

This epoch, 32940 ILV is distributed to stakers. 80% of that goes to the SLP pool, and 20% of that goes to the ILV Core Pool.

Within those pools, rewards are distributed every block, based on weight within the pool and according to what percentage of the pool you own.

Assuming everyone in the ILV Core Pool were at the same weight, if I had 100 ILV in the ILV Core Pool, and there were a total of 1M ILV in the ILV Core Pool, I'd be getting:
(32940*0.2) = 6588 ILV gets distributed to the ILV Core Pool over 2 weeks. I own 100/1000000 = .0001, or .01% of the pool, so I'd get 6588*.0001 = .6588 ILV in the 2 week epoch

It would be possible to break this down to daily values or "per block" values as well.

The simple answer is that epochs dictate the total reward emissions, yes.

[strange pond]

Makes sense, thanks for confirming. And as Illuvium begins generating revenue that will be distributed as well on top of these inflationary rewards?

[cyan rampart]

That's right. ETH revenue is used to purchase ILV from the market. Those unlocked ILV tokens are then distributed to ILV stakers.

[tidal hinge]

Hi staked ILV be over a year ago. It seasoned on November 20 I saw it in my account two days before the 20th. I just checked today now it is gone does it go somewhere is it supposed to go back onto my MetaMask what’s going on?

[devout bobcat]

if you staked your ilv they are still staked, you can check easily within the vested tab on the staking page

[cyan rampart]

ILV doesn't automatically unstake or anything. I definitely recommend checking out your wallet address on Etherscan to verify exactly what transactions have happened. If you need any further help, I can create a private thread.

[woven ibex]

DMs are scams

Mods and Team members will never DM you.
Never trust advice or links received in DMs.

Beta access, giveaways, and promotions are not given out via DM. Scams are designed to trick you into installing malicious software to gain access to your wallet or to convince you to enter your seed phrase into a website. Never give your private key (12 to 24-word seed phrase) to anyone.

Support is not provided via DMs

Support is handled publicly, or in threads within the Illuvium Discord. People offering support via DM are scammers.

Please follow the instructions pinned in #report-scammers to report bad actors so we can remove them from the server.

[tidal hinge]

0x10357333219385d2322E99512E837197152397c6

Can I report them yes I was hacked. I can see them pulling it out 16 days ago putting it into my wallet and sending it out to the address above.

They even had to add some ether to my wallet to make the transaction happen

They also used a couple different wallets to transfer funds out

This sucks so bad I bought seven ILV at over $1200. Spent over $8000 I know the value is down a lot right now but is there any way if I gave my wallet address to show transaction history that I could get helped out someway?

0x99999b9E82cD43623a311E823D06a737Ee600335

[cyan rampart]

I'll start a thread so we can talk about this a bit more.

[tidal hinge]

This is another address they used to sent money to.

[mild tiger]

so unclaimed rewards are also staked and earning rewards? & then once you claim the rewards they are also staked & earning rewards while they claimed rewards are locked, do I have that right??

[prime rose]

If i have 165 illuvium and i stake it for 6 month period how much illuvium a day i get

[prime rose]

Cold or hot wallet did u visit a scams link ?

[prime rose]

Leason learn stake with a ledger or Trezor dont just go nake with meta mask

[gloomy gazelle]

No. Unclaimed rewards are labeled as PENDING rewards. Pending rewards do not earn anything. They must first be claimed to start the vesting period. Once claimed they earn until withdrawn.

!claim

[woven ibex]

Rewards from staking have to be manually claimed and GAS fees for those transactions have to be paid:

• When you stake ILV yield farming rewards start piling up for you
• You claim those rewards whenever you deem the pile to be big enough to justify gas fees
• If you claim sILV2 you have it unlocked right away (sILV2 is only usable in game as a substitute currency for ETH outside the marketplace and the Leviathan Arena)
• If you claim ILV then that batch of ILV gets locked for 12 months and automatically staked in the ILV pool with a token weight of 2.0 for compounding effect
• New rewards start piling up....rinse and repeat

NB: ILV paid out as part of Illuvium’s Revenue Distribution have to be claimed as well but are not subject to a locking period.

[mild tiger]

Ok, thanks so much!!

[ashen flax]

The revdis will also be split between ILV and SLP stakers and than according to the percent you own of the pool, right?

[gloomy gazelle]

Yes. The treasury tokens and the preseed, seed, and team tokens are also eligible. They are staked in a different contract. Not the yield farming contract

[balmy kraken]

guys where to find slp for staking?

[ember ginkgo]

!lp

[woven ibex]

Providing liquidity is done via an ILV/ETH Pool on SushiSwap and requires multiple steps:

1. Buy ILV and ETH
2. After approving the Sushi contract you stake a 50/50 value ratio of ETH and ILV
3. You receive SLP tokens. (To see them, add the SLP contract address to your wallet)
4. Stake the SLP tokens through the Illuvium Staking App and set your lock period.

See #🔗〕helpful-links for official links.

[sturdy orchid]

Hey all, what happens after a year when my staking period ends? Do I HAVE to reclaim my staked ILV immediately and restake/lock to continue earning rewards or can I just leave them staked further?

[candid kettle]

even after the lock period ends, the stake continues to yield normally and is eligible for revdis with the initial weight

[sturdy orchid]

Nice. After that I can unstake whenever I assume?

[candid kettle]

yes, anytime

[sturdy orchid]

Ok thanks.

[bronze heart]

are the token rewards still locked after claiming?

[cunning perch]

If you claim the token in form of ILV, it will start a one-year vesting period. Meaning it will be locked for one year the moment you claim it. If you claim in form of sILV2, it will be unlocked and will go straight to your wallet to be used in the game or purchase IIluvatars or land when there is a sale (not secondary market)

[bronze heart]

thank you

[swift escarp]

Hello my staked illivium is release and showing V1 beside it , do I need to do anything are it is already converted to v2 as it was staked

[cyan rampart]

Hey edy, if you have a V1 deposit, and you did an Upgrade transaction when Staking V2 launched, you're all good. You can leave the deposit staked and it will continue to generate yield rewards and be eligible for revdis.

It will continue to say "V1" next to it, as the initial deposit is still into the V1 contract, but that information is being read by the V2 contract.

[swift escarp]

Thank you

[river ridge]

how do I stake my tokens i just bought?

[candid kettle]

https://medium.com/illuvium/28-everything-you-need-to-know-about-staking-ilv-6669594b2fac

[old nova]

Hi. I`m trying to add liquidity pool ilv\silv2 at Uniswap - it asking to pay >1 eth fee. Maybe anybody knows why so much?

[candid kettle]

probably because this pool has no liquidity

you would basically be creating one yourself

[burnt copper]

Don't do it bro

[old nova]

Why? do you think nobody wants to swap ilv/silv2? Of course I wouldn`t pay ~1 eth for it

[eternal socket]

Hello. How can i know how much eth/ilv = 1 slp?

[cunning perch]

you can search ETH/ILV Zerion on Google and follow its price and proportions 🙂

[eternal socket]

Thanks!!

[burnt copper]

Yeh 1 ETH is too much! I think in the future sILV2 will likely be made claimable from revdis (I'd be bullish on that!) and also think they'll look to move it all to L2 (I might be wrong), so don't see a future for it on eth/uniswap long term once staking rewards are done and game is fully released

[old nova]

Good thoughts. Seems you will be right.

[burnt copper]

We can guarantee that future price of sILV2 will be close to parity with ILV, what effect that will have on IL and profits I am not sure...