🥩〕staking

[cyan rampart]

gagi is right, ILV isn't used in-game, it's functionality is listed above.

The main differences in staking ILV vs. SLP are that the ILV Core Pool has lower APR, but has no risk of IL. The ILV/ETH pool has higher APR but no risk of IL.

There is no sILV/ETH pool.

[fickle rampart]

I did both …. But I can only see my staked

I see it now … I just# had to disconnect and reconnect my wallet…. I guess here goes nothing ! … I’m all in on illuvium .. staked and the pool 🏊‍♂️

Wish me luck 🍀

[gloomy gazelle]

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

[keen crest]

So if im reading this right 5.622 ILV to .197eth?

[elder dawn]

Correct

[fickle rampart]

How long is the slp/ Eth pool locked up for ? I did one yesterday.. ? “Noobie question”

[quick dirge]

you had option to choose locking period, so you have to check yours on the staking website

[eager prairie]

whats the ratio of revenue distribution to the ilv holders ?

[mild tiger]

100% revenue in most cases but for things that have cost associated with them like making merch etc, it is 100% of proceeds.

(At least that is what I believe to be so)

[digital narwhal]

100% revenue goes to stake holders

[elder dawn]

Eligible (staked) ilv receives revenue. There's a draft iccp that will be shared shortly that clarifies how this works for many planned revenue streams.
The other thing to note is treasury ilv is also eligible for revenue, as is locked, unvested team and seed tokens. As of right now, there's about 7.7 million ilv eligible for revdis.

[brisk surge]

hello. i was trying to withdraw ilv from the vesting tab but i'm getting the following error: cannot estimate gas...

can someone help pls. i cleared cache, tried different browsers etc. no luck

[bright heart]

Check pins to see if Blicker's solution can help you.

[brisk surge]

what does "Upgrade Yield and claim rewards" do? i do not want to lockup but just claim my unlocked ilv

[brisk surge]

don't see anything related to that error in there :/

[brisk surge]

think i have found it. so it looks like i need to upgrade to v2. but will i then be able to claim the full amount or just part of it? i do not want to lock ilv

[gloomy gazelle]

The only thing that will be locked is your previously unclaimed rewards. They will have to start vesting. The unlocked deposits will not be locked up again until you withdraw them and then deposit them again.

!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.

[brisk surge]

ty pelican. so you are saying that if I upgrade to v2, i should be able to withdraw all unlocked ilv? my tokens were unlocked quite a while ago...

[gloomy gazelle]

Yes

[gloomy gazelle]

The vesting tab is the spot to be able to withdraw

[valid cedar]

sILV2 is always going to be valued at essentially 1/2 ilv outside of the game?

[cyan rampart]

The market determines the price of sILV2 on secondary marketplaces like Uniswap etc. No individual person has "priced" sILV2 to sell for any given amount. It's logical that the upper bound of sILV2's price would be ILV's price, but beyond that it's difficult to say where the price might land. NFA as usual.

[valid cedar]

I see... so the market makers have determined sILV2's value atm to be where it is until things change...

[cyan rampart]

No, the market itself has determined sILV2's value. The price fluctuates according to supply and demand. The only place I'm aware of where sILV2 is for sale in appreciable quantities is through an unofficial liquidity pool on Uniswap, or other unofficial liquidity pools. Assets can vary in relative price within a liquidity pool, based on the depth of the pool and the demand for either asset within the pool.

Note that sILV2's value within the Illuvium ecosystem is always pegged to the price of ILV. Think of it this way:
sILV2 is a gift card for gameplay, valued at the price of ILV. As in the real world, a gift card valued at $20 might only sell for $15 to a secondary buyer, because that gift card only applies at full value to a subset of all the things cash (or ETH, in our analogy) could be spent on.

[elder dawn]

its essentially a supply and demand problem. the greater the people that want to sell sILV2, the lower the price becomes relative to ILV. When more people want to buy sILV2, the price goes up. The supply side is typically stakers who want immediate liquidity from staking, and not waiting the year vesting period. Demand for sILV2 increases when there is a need/use for it. Currently, we're waiting on Illuvitars as the next likely use case. During the land sale, sILV2 went up to 80-90% of ILV price. By the end of the sale, it dropped to 50% and I believe it has been as low as 30%. Given the fees associated with swapping on L1, I never see the price going above 90% of ILV

[valid cedar]

Yes, that makes sense

[valid cedar]

This makes sense too, ty

Once there is more of a need for sILV2 people's desire for it will increase. And those who have it will have a reason to sell it for more on the liquidity pools. Thus price will rise... there are several things coming that will incentivize sILV2 usage. But atm if ppl need liquidity they can do so but take a hefty (subjective) cut.

[cyan rampart]

Basically, yes. It's also worth noting that there's nothing in place to guarantee a sILV2/ETH LP will always exist. We call sILV2/ETH pools unofficial because they are not supported by Illuvium's tokenomics, liquidity in those pools is provided by people who are under no obligation or lock period, and so liquidity could be removed at any time.

I'm not saying it's likely that would happen, it's just good to be aware that it's a possibility.

[valid cedar]

That would just mean sILV2 couldn't be sold on the secondary market yah? But ppl do it cuz it's profitable, ideally? And they would only remove if it would make sense to do so, yah? So, as long as things are working for everyone should prob continue unless unforseeable things occur.

[cyan rampart]

Yeah, there's a variety of reasons people would provide liquidity, but some obvious ones are:

1. Trading Fees
2. To create liquidity for themselves to sell sILV2

[sturdy scaffold]

If the SLP's V2 vesting period has ended but you still want to continue staking, do you need to withdraw and re-stake it again?

[cunning perch]

You don't have to do anything

[ember ginkgo]

No, you can just leave them there

[sturdy scaffold]

Ok thanks

[true seal]

Hi, is it just me or anyone else having trouble loading Illuvium staking page in Firefox, seems like lots of elements wont even load and I cannot stake my ILV 😦

[devout bobcat]

firefox works for me, have you tried clearing your cache?

[true seal]

yes, didnt help

[devout bobcat]

the easiest fix would be to install chrome just for staking then i guess

[true seal]

I have chrome, but there I dont have the MM and I am not sure, that I want to have it in more browsers? hm

[gloomy gazelle]

It’s possible the new staking page update is giving you issues.

On the overview tab do you see the token supply in the bottom right?

[true seal]

yes, I see that just fine, the rest of the page is kinda broken, like every button is empty without text

[gloomy gazelle]

I just came up with a work around. Firefox lets you tweak website appearance in its settings. Try messing with the COLORS.

You can change it to ALWAYS override.

It’s ugly. But it works.

[gloomy gazelle]

@worn turtle the website does not show text properly on Firefox. But there is a workaround I found above.

[true seal]

thank you for the tip I will try it in a few minutes

[gloomy gazelle]

Observe the LIGHT MODE! (Not actually light mode, just the manually selected colors)

[ember ginkgo]

https://tenor.com/view/praying-mateo-superstore-sign-of-the-cross-prier-gif-9684878

[worn turtle]

Thanks

[lyric needle]

This new or do I just never scroll down?

[ember ginkgo]

Might be new

[worn turtle]

That new new

Couple of bugs that we are working out is why it wasnt announced yet

like the one up a few comments

[ember ginkgo]

Nothing these guys don't notice before it's announced

[median canyon]

Sorry about this. This was done at my request and it is still just a little bit broken right now. We will fix it up asap. (A confluence of errors has caused it to be wrong in a couple of ways)

<@&795142782133207063> Please let people know it is not quite right until I update you.

(FYI the numbers are slightly off. The estimated total is meant to remove the treasury since that is technically never released unless by IIP and the purpose of this is to show what tokens are out in the world as a value and percentage. Also in game yield isn’t taken into account.

Also estimated sILV2 is slightly high based on an optimisation in the code that just isn’t quite correct.

So the percentage should be a touch lower, all things considered)

Basically, I goofed. But we will get it right. And I’m sorry.

[true seal]

No worries I/we will survive without it for a few days 😄
anyway I used the colors hack and found another thing
this at the bottom of the page is also not correct, current price is like $52 not $43

[median canyon]

Thanks for that. We will look into that issue too.

[merry sluice]

as an ILV/ETH staker, does it make sense to keep the ILV rewards on pending or claim them as often as possible? Is claiming ILV extra beneficial bc they also compound rewards for 12 months? not sure how does that work

[elder dawn]

there's a couple reasons to claim, and it's up to you how often makes sense. Claimed rewards start their 12 month vesting period, they start earning rewards at 2x weight in the ILV pool (currently around 8% APR), and enable eligibility for revdis and voting power. Your call on the value of each of those. Being honest, I've largely stopped claiming for now as there is no revdis until products start, I'm indifferent to the vesting period starting, and gas makes it so there's not too much value in compounding at the moment. Entirely your call on valuing each of those.

[tropic knoll]

I few months ago I was using someone’s calculator and it was indicating it was probably most effective for me to claim when I hit around 10 ilv but there’s a bunch of factors that go into that, such as gas prices etc

[gloomy gazelle]

This is probably the calculator that was used. #🥩〕staking message

[boreal pier]

my earned ILV has dropped from .02 to .016 in 5 days is this normal?

[cunning perch]

Reward distribution goes down 3% every two weeks if that's what you are referring to. Also the more ppl join the lower APY gets.

[boreal pier]

Ah ok, just wanted some info because I have no clue what I’m doing lul

[cunning perch]

No worries 🙂

[cerulean flower]

we stake by immiuable x?

[boreal pier]

no on the Illuvidex

[cunning perch]

If you mean L2, yea it will happen but that's not an immediate event. V3 will happen sometime in the future but it's not on timeline yet

[cerulean flower]

yes L2 i want to mean, because on eth is the fee expensive....for the moment are ok the fees but if we will enter in bull market i think the fees will be expensive again, for the moment i don't have a lot of ilv...

[cunning perch]

I don't personally expect V3 for a year or two, if not more, but we shall see

[summer void]

Hi, can anyone point me to a guide or instructions on withdrawing SLP after it unlocks and getting it converted back into eth/ilv?

[lyric needle]

pins in the channel 📌

[summer void]

Okay cool thanks - so on the Vesting page I'm assuming after it unlocks I will be able to click withdraw or something and it will send the SLP to my wallet, at which point I head over to Sushi and do that part in the Pinned message?

[onyx flower]

You got it

[plain hatch]

can you withdraw multiple deposits/rewards at once once they unlock? or different transaction for each?

[cunning perch]

I believe it's possible. There should be boxes to check and then click withdraw (ignore DMs they are scams)

[valid cedar]

Soooo, I guess I should take note of the relationship and average of eth/ilv for the various batches of SLP I staked and determine in the future the best time to unwrap after staking period ends to avoid IL yah?

If I were to have staked everything today... the ideal time in a year from now would be... Essentially, if eth goes to say 15.5k and ilv goes to 520... ease of numbers using 10x. That would keep the relationship the same right? So there would be no loss when unwrapping slp? Just wanna make sure I'me understanding IL correctly.

[regal marten]

Yes indeed, when you do that, your exposure is the same as if you would not have staked, which is the optimal case 🙂 In all other cases you will have impermanent loss. If something else does not offset that (because of staking rewards or a lot of fees) it is usually not worth it to add liquidity.

[tacit musk]

Hi can anybody help me regarding vesting. I am still on V1 Staking. But I am still earning. Should I upgrade to V2 ? If yes how can I do that ?

[pure eagle]

Did you upgrade from v1 to v2 Last year?

[vapid mist]

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.

[tacit musk]

no i did not

but i withdrew all coins and started the staking again

[pure eagle]

Then your deposit are in v2, if you re staked again after the upgrade window then your deposits are in the v2 staking contract

[ionic heron]

any suggestion if I should convert my LP into iLV. since the interest is much lower now for ilv.

most of my stakedLP pool. are showing V1. do i need to do anything to it ?

as above

[pure eagle]

If you upgraded them you don't need to do anything (simple way to know is if you are still getting rewards)

[ionic heron]

i still getting reward. but i also have LP in v2. so not sure if rewards is from V1 or V2. right now.

though i vaguely recall i could have upgraded. but how can I find out other than from the rewards

[gloomy gazelle]

It’s upgraded. You are able to see the v1 for in some and then the other things in the vesting tab do not say v1 (therefore they are v2 and it’s properly upgraded)

[snow lily]

I have some SLP that is currently locked. I’m wondering if it’s possible to calculate, if that SLP were to become unlocked today, and I were to withdraw, how much ILV I would get and how much ETH I would get?

[candid kettle]

take the LP token contract and put it in zerion, then divide the value by 2, this is the dollar amount of each token

!contract

[woven ibex]

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

[snow lily]

I just checked that, and the price is $608.39, so I’m assuming that’s the value of 1 SLP token.

So one of my stakes, I have 0.69 SLP. If I withdrew that, I’d get a total value of $419.79 (0.69x$608.39). Take half of that at $209.89 and an ILV price of $53.72. I would get aprox 3.9 (209.89/53.72) ILV if I withdrew from the pool? I’m a thinking of that correctly?

[candid kettle]

correct

[snow lily]

🕺🕺 And if my 0.69 SLP becomes unlocked, and I don’t withdraw, I would still earn rewards at a 2x weight?

[candid kettle]

yes, it continues to yield and receive revdis in the initial weight of the stake

[snow lily]

Awesome, thank you!

[cerulean flower]

if i stake ilv for 1 year, when i finish the stake, than want to restake i must to claim them? or leave it on stake ( not claimed)?

[candid kettle]

even after the stake time ends, as long as you do not withdraw the tokens continue to yield and receive revdis in the initial weight

[tribal creek]

which exchange was it to add ILV/ETH LP, sushi?

[candid kettle]

sushiswap

[tribal creek]

Thanks! It's been awhile!

[candid kettle]

#🥩〕staking message

[tribal creek]

Does it matter how long I stake 3/6/12months on APR rate?

NVM, I see the APR change

[candid kettle]

the higher the stake time, the higher the APR and the higher the weight for receiving revdis

[tribal creek]

Lol, yeah I see it. Thanks!

one more question

The old SLP that's staked and can be withdrawn, do I need to withdraw and restake it to 12 months to get the current max APR %? How do I know what APR I'm currently receiving?

[candid kettle]

even after the stake lock time is over, the tokens continue to yield the maximum APR (if they are staked for the maximum time of 12 months) and receive revdis with the weight of the initial stake

[tribal creek]

Got it! Thanks for the clarification!

[summer void]

If I want to restake some SLP do I have to withdraw it back to my wallet and stake it all over again or is there a way to just restake without incurring any gas fees?

[candid kettle]

no need to restake, tokens continue yielding and receiving revdis even after the lock period ends

[summer void]

I'm sorry, I meant in order to get a higher weight

[candid kettle]

so yes, you have to withdraw and make a new stake with a longer time to have a new weight

[summer void]

ty

[candid kettle]

there is no way to escape the gas because the contract is in L1 unfortunately

[summer void]

How do you calculate gas fees? What does GWEI mean?

[candid kettle]

depending on the contract, the heavier the interaction the more GWEI it consumes (GWEI is the minimum unit of ETH)

before you do the operation, the metamask shows the price it will be, you don't need to calculate it

the more traffic on the network, the greater the GWEI as well, the ideal is to carry out the operation on weekends or at dawn, when there are fewer people using the mainnet

[digital narwhal]

Does anyone know how revdis is calculated?

Is it 5% off the total volume minus tx fees?

[lyric needle]

#📰〕governance-news message

think Revenue Distribution IIP-22 is the most info we have on revdis

[digital narwhal]

Thanks

[gloomy gazelle]

You mean revdis from land sales trading revenue right?

All that revenue is in the wallet pinned here. #🥩〕staking message

[digital narwhal]

Thanks, ultimately 5% of all revenue goes to stakeholders, I was looking at that contract however it hasn't updated in a while.

[gloomy gazelle]

No not 5% of all revenue. All revenue goes to eligible ILV.

the DAO treasury has many eligible ILV

[gloomy gazelle]

5% is usually referring to what the land owners will be getting. The land owners get close to 5% of the in-game revenue. Because they are the ones producing and selling 5% of the in game fuel tokens.

[digital narwhal]

Ahh, that's right. My mistake, I am mixing stuff up. So the 225eth in the vault is owned by stakeholders, what about the treasury?

[gloomy gazelle]

The DAO sells the other 95% of the fuel tokens. And then All of that eth revenue gets distributed to all eligibly staked ILV (public stakers, team, treasury, seed, preseed)

[gloomy gazelle]

That’s only the IMX trading fee vault. The initial land sale revenue was previously distributed.

[digital narwhal]

I remember that.. I'm just trying to get the current revdis amount, I guess I'll call the contracts address and pull the balance then.

[gloomy gazelle]

I think There’s something close to 6 million eligibly staked ILV.

[gloomy gazelle]

Are you wanting what is waiting to be distributed? Or what had been distributed so far?

Lelehal’s probably got what you want either way. The sheet has a lot of tools

#🥩〕staking message

[digital narwhal]

I want to get the current balance and add to my bot. If I could somehow guesstimate the revdis per ILV staked that would be nice.

[digital narwhal]

I've used this before, great tool.

[gloomy gazelle]

The only revenue at the moment is the IMX trading fees. And it’s too little to be worth bridging and activating the revdis contract.

Everything else has been distributed.

Those two pinned wallets would hold and eth from revenue.

[digital narwhal]

Awesome, thanks a lot!

[worn seal]

what are rewards like for staking (if any?) even without revdis?

[pure eagle]

This was 4 days ago
ILV pool APR:
1 month (min): 4.2%
3 months: 4.86%
6 months: 5.8%
12 months: 7.78%

SLP pool APR (ILV/ETH):
1 month (min): 37.71%
3 months: 43.64%
6 months: 52.02%
12 months: 69.83%

You can check rates in official illuvium staking page#🔗〕helpful-links

[opal onyx]

anyone know why i cant withdraw?

[candid kettle]

do you have the stake contract updated?

what error is showing?

[opal onyx]

yeah thanks its cause i need to upgrade to v2, dont think im gonna bother though because i dont think its worth after fees

[valid cedar]

Heyy... sorry if this has been covered a bunch... is there a gas fee calculator for gwei? or a way to determine? Would like to figure out how much gas 13 gwei would be on 10 ilv claimed.

[cunning perch]

out of exp, 13 should be $3-5 give or take, but you can see the gas when you are signing the TX on your wallet (before you sign)

[valid cedar]

Ahhh ok ok... so 13 is on the lowish end of basic eth tx's

[cunning perch]

really depends. if you are doing a TX using ETH itself, it's cheaper. Since ILV is not ETH, it can be a couple of $ more expensive. Also depends on the TX. Staking is more complex compared to a simple transferring a token.

[valid cedar]

Makes sense. Good to have a rough idea on the lower end of gwei at least. I had no reference... so at least now there's some reference. Ty (:

[cunning perch]

Before signing the TX, you can alway see how much you are going to be spending on Gas (estimate). Even if you see $5, the TX might be cheaper. You can track it on the contract you are signing on Etherscan after the TX has been successful.

[peak patio]

Can someone please explain how the GWEI cost work for claiming staking rewards :
On ethgasstation ethereum gas fees are $0.07 for standard > 5m.
But for illuvium it is about $7 to claim.
100 times more expensive.

How is the gas fees calculated ?
I understand there is some overhead, but that is a big difference.

I realize I do not understand how it work so the question is :
How is the gas fees calculated and why different from the gas station amounts?
At the moment illuvium website shows 14 GWEI to claim.
Is that the total, or is more used when claiming through metamask for it does not match what metamask shows as the ethereum gas fees, which is 0.00409548ETH === $6 (but $0.07 on ethgasstation)

[bright heart]

The eth gas station prices are for transferring ETH.

Here's a way to look at GWEI and gas usage:
When you want to do something on ETH some processing power will be used. That processing power can vary from action to action. Like transferring ETH, to swapping on a DEX or staking in illuvium. Each of those will be a different amount of work that the miner has to do.

Each of those working units costs X amount of GWEI. So things that require more work from the miners will cost more gas total.

Check this screenshot from etherscan:
You can see different actions costing different amounts.

[peak patio]

Thanks for the information.
I see also that you show that for average the cost is 17 GWEI as stated on the illuvium website, but there it states that 17 GWEI is $0.53.
When I send the transaction for claiming reward to metamask is it stating 0.00409548ETH === $6

Does this mean it costs more than the stated 17GWEI as stated on the illuvium website ?
And is there a way to calculate the amount of GWEI a reward claim will cost using the 17 GWEI show to get the actual GWEI/$ it will cost?

Or is it $0.53 per GWEI ?

[bright heart]

Same as with cars. It's not just the price of gas, it's the amount you use also.
Also, Metamask often auto-fills a higher gas price in order to get your transaction in faster. So it might be willing to pay like 20 GWEI instead of 17. And you often don't know how much gas will be used. Once the transaction is actually on the blockchain it uses only the needed amount of GWEI. So what you see in metamask is an approximation.

[bright heart]

1 gwei = 0.000000001 ETH
And gwei price varies with eth price.

Think of gwei to eth as cents to a dollar.

[peak patio]

This I understand.
Looking at your screenshot.
There is a price of $0.53 below the 17GWEI average.
What is this.
This can not be what 1 GWEI costs for calculating 1 GWEI with ethereum price at $1580 you get $0.00000158 per GWEI, which is far away from $0.53.
So my question is.
What is the $0.53 on the screenshot?

Also if you multiply the $0.53 with 17 then you get approximately to the metamask fee price also.

[bright heart]

One transaction even at gas price of 17 gwei will never cost 1 unit of gas. For example one of my previous claim transaction has used 200k+ units of gas at 8 gwei and you can see the result in this screenshot.

For example, I see that a simple eth transfer transaction used 21k units of gas. So you need more numbers, not just the gas price.
I hope it got more clear for you with these explanations 🙂 Don't feel bad to ask more if something is not clear.

[edgy socket]

Well explained!

[dreamy lintel]

Can someone help me. Does my staked ILV continue to earn even if it is already unlocked? Or do I have to withdraw it and restake it?

[ember ginkgo]

Keeps earning

[dreamy lintel]

Thank you.

[gloomy gazelle]

It Looks like @bright heart has what you are asking. But I’ll explain as well. Sometimes other ways help.

The idea for ethereum network is that the more complicated a transaction (longer and more complex coding really) is the more gas it will consume. Complexity increases gas USAGE which means the LIMIT needs to be higher. In addition to that there is the COST of the demand to be included in each block. When more transactions are being sent then if someone does not want to wait longer but wants to pay extra to get their transaction process first, then they will pay that increase by increasing the number of GWEI they pay per each unit of gas.

So the simplest and therefore cheapest transaction is the transfer of ETH. With a constant limit/usage of 21,000 gas. But the GWEI amount varies, it could be 8 gwei or less if demand is low or well over 100 gwei if demand is high. (17gwei)x21,000=357,000gwei≈$0.54

More complex transactions like staking interactions or multi-hop swaps have much higher limit/usage. Gwei can still be 17 but with a higher gas limit/usage the cost is significantly higher.

(17gwei)x250,000= 4,250,000gwei≈$6.40

(Note: my USD calculations above are very fuzzy but the general sense of the transaction fees feels accurate to me)

[woven ibex]

GAS fees are an important thing to consider when it comes to transactions on the Ethereum Mainnet. Optimal GWEI can be found by checking the Gas tracker bot in the discord member list and by checking historical gas prices here:

#🔗〕helpful-links message

[edgy hill]

When I go to https://staking.illuvium.io/staking I don't see the staking possibilities anymore? What am I doing wrong? my wallet is connected.

[gloomy gazelle]

Try clearing web browser cache.

[edgy hill]

Thanks, but it did not help..

[gloomy gazelle]

What browser are you using?

[edgy hill]

Chrome

[gloomy gazelle]

And your metamask is on the right network? You could try disconnecting it and connecting it again.

[edgy hill]

Doesnt help... I just dont see the pools?

It says - Failed to fetch - in the right corner.

[gloomy gazelle]

Sounds weird. I’m going offline so I won’t be around to help figure this one out. Perhaps it’s a VPN or firewall issue.

!scam DMs are scams. No one legit will DM you to help.

[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.

[edgy hill]

Disabling VPN did help, thx 🙂

[fierce chasm]

game theory: What happens if all ILV are staked in the ETH/ILV staking pool and then ETH price surges. After that all stakers unstake and want to exchange the L" token back to ETH and ILV. Then there would not be enough ILV in existance right? I mean, with surging ETH, the ratio would change for 50% / 50% and you need to get more ILV.
Wanted to go to bed and suddenly I ask me this stupid questions 😄 Someone has an answer?^^

[brisk surge]

Your SLP token represents ownership of a portion of the pool, regardless of what is in the pool. So they get whatever their share is and its quite likely that the amount of ILV and ETH they get back is somewhat different from what they put in because of the change in pool composition resulting from price chages.

[onyx flower]

There is probably a scenario where no one sells ilv/buys eth(ilv supply within slp stays constant or decreases), and eth price has surged 10x while ilv hasn't changed price, and x% of slp unstakes at same time (maybe as low as 20 in this scenario) where yes the whole thing breaks

[brisk surge]

But the ILV is priced in ETH so if the ETH price goes up the ILV price does too

Like right now the ILV price on the pool is .033 ETH. The $ value of ETH changing would just change the $ value of ILV as well so long as the pool still prices it at 0.033 ETH.

[mental spade]

Does my V1 stake ILV still generate returns?

[candid kettle]

if you updated the stake contract yes, the tokens continue to yield even after the end of the lock period

and getting revdis with the initial weight

[mental spade]

Its been a while since I logged in and I cant remember if I did. Anyway I can check this?

[candid kettle]

https://www.youtube.com/watch?v=rF4jmTGgNdY&t=262s&ab_channel=Illuvium

if you do not have these options available the stake contract is up to date

[mental spade]

So if I cant see the upgrade buttons on top I should be good?

[candid kettle]

yep

[mental spade]

clever me...I must have done it when it came out first...haha
Thanks for your help

[half bough]

is there a specific date when staking rewards will end? I assume summer 2024? Want to mark my calendar when to swap SLP tokens into ILV

[candid kettle]

#💰〕token message

end of July 2024+-

[half bough]

thanks

[boreal pier]

just want to announce I crossed my first ILV earned threshold

[eager prairie]

How much ilv should I stake for decent returns.. ?

Any calculations?

[elder dawn]

there's a pinned message from Lelahel that includes his calculator. He has the most robust one at this point, so feel free to play around with that. It's all up to you. Currently APR is ~65% for the SLP and 7.5% for the ILV pool if staked for a year, but those aren't fixed and likely to decrease over time. My advice is make sure you stake enough to justify the gas fees. Also note revenue distribution is also a longer term value to staking. Not exactly an answer, but hopefully it gives you the right things to think about.

[plain jasper]

Someone said 300k ILV is being unlocked in march. Does anyone have a source for that?

[candid kettle]

#💰〕token message

[plain jasper]

That's just general unlocks, they were talking a specific 1 week period of 300k ilv. As lots of people staked 1 year prior

[elder dawn]

more significantly, it's the issue of staking being frozen and upgraded a year ago. There was no claiming of staking rewards from January-March, and then when staking opened back up, about 300k tokens were claimed in just a couple days. those all become vested starting March 23-29, so there's potential for those stakers to sell at that point. there's no staker tokens vesting for the next ~2 months currently.

[plain jasper]

Oh interesting.

[gloomy gazelle]

Yeah. The data for that is on the blockchain and has been pulled into this spreadsheet

#🥩〕staking message

[summer wolf]

hi

[cunning perch]

Hey. For greetings and random chat please use #💬〕general

[supple portal]

I just withdrew my SLP and forgot how I split that back into ETH and ILV. Can someone help me out

[brisk surge]

Theres instructions in the pins

[plain hatch]

can you withdraw multiple deposits/rewards at once once they unlock? or different transaction for each? Dont see an option to select multiple

[cunning perch]

when your stakes are unlocked, you should see a check box on the right. you can check as many as you want and withdraw in one single TX

[plain hatch]

thats weird i dont see a check box, just under the vesting tab right? maybe a browser thing ill try a different browser

[cunning perch]

hmm I don't have any unlocked options or I'd have taken a screenshot./ Try clicking on "withdraw" maybe you'll see an option. I don't remember how it was since I withdrew quite some time ago, but I'm fairly sure you could withdraw multiple unlocked batches of the same sort.

[plain hatch]

sounds good as long as there is an option, not withdrawing just wanted to make sure it was available in the future

[cunning perch]

I believe there should be an option. Unless you have SLP and ILV and they might not be possible to be withdrawn in the same TX.

[worn turtle]

Yes you can select multiple to withdraw at once as long as its v2 staking

[cunning perch]

Thx Rich. Hard proof provided haha

[worn turtle]

I had the message typed up lol was just looking for the article

Im multi tasking havent used my laptop in awhile

[cunning perch]

It's all good no worries.

[plain hatch]

appreciate it gents

[storm wolf]

gm everyone

anyone know what happens to when the staking pool is completed? looks like there is about 20 percent left on the emission schedule as per the dashboard @worn turtle

from that point on do ilv rewards derive solely from revdis?

or will the staking pool be replenished with additional ilv to be sent out to stakers? i think the team should do an epoch to vote on this idea

[steady trellis]

From where would those ilv come from ?

Once it’s done it’s done. 21% left. Then revdis only.

[storm wolf]

ok so then the staking platform will be just for revdis then correct?

[ember ginkgo]

correct

[storm wolf]

Thabks

[storm wolf]

Hopefully the revdis happens. At the rate things are going it will be 10 years

[weary tusk]

I have a question - my deposit period for staking LP has already ended. Am I still getting rewards and, if I am, at what tier? I locked for 12 months.

[candid kettle]

tokens continue to receive rewards normally even after the lock period ends and receive revdis with the weight of the initial lock

[vivid ruin]

@raw hound weight

[vital sail]

quick question for anyone who may know: when staking ILV does it claim any outstanding rewards or are they completely separate?

[candid kettle]

when you claim the generated rewards go to a new stake of 12 months, in the case of the claim made in ILV

[vital sail]

OK, thanks. But staking your own ILV independently doesn't claim any outstanding rewards?

[cunning perch]

Rewards always need to be claimed manually

[smoky cove]

For the SLP do both underlying tokens get rebalanced to maintain the 50/50 ratio or is one of the tokens at a fixed amount?

[elder dawn]

the SLP token is constantly rebalanced, so half the value is with each token

[digital wadi]

Good

[smoky cove]

Thanks, Deraji! Think I got it. For example, if the value of ILV increases and ETH stays flat, both the ETH quantity increases and the ILV quantity decreases to offset and rebalance at 50/50? Then the SLP's value increases at roughly 50% of the ILV value increase.

[elder dawn]

you got it. this is where impermanent loss comes in. you always get less of the token that performs better because of the rebalancing

[smoky cove]

Makes sense, thanks for this. I am running a few ROI and opportunity costs analyses and that was super helpful.

[brisk surge]

Keep in mind that the sushi pool uses an ETH/ILV pair so the price on the pool is based on the relationship between the amount of those tokens in the pool. So if ILV suddenly jumps to $200 on a CEX the sushi pool doesn’t just automatically change the tokens it holds, people have to actually trade on the pool for the pool price to change.

[sturdy ember]

when i collet do i then pay gas?

[gloomy gazelle]

Yes. Pressing that button should bring up a wallet pop up transaction.

!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.

[smoky cove]

Hmm… interesting. Realizing how little I know about this. If I understand correctly, it’s people adding Eth/ILV to the pool and people removing Eth/ILV from the pool that does the rebalancing? The SLP tokens perceived valued is based on using the current market value on a CEX of the two underlying tokens. The SLP can be traded on a secondary market perhaps creating an arbitrage opportunity. Which creates a self-governing balancing mechanism of sorts?

[gloomy gazelle]

It’s a bit like a container that automatically balances the two things held within it. Eth and ILV. Put eth in from your wallet and ILV will be pulled out into your wallet. The value of the ILV increases because there’s less of it remaining in the pool and there’s more eth. (Eth price is not really impacted by the swaps because eth has more larger pools elsewhere that set the price for eth)

[gloomy gazelle]

The value of any token is really a value based on an average of all tokens of its liquidity. ILV’s price has consistently been set by its value in the eth/ILV liquidity pool because that pool has had the huge majority of the global liquidity for the ILV token. CEXs have less than 20% I’d say.

[gloomy gazelle]

Sushi liquidity pool tokens are not traded. Not really.

You should look up a video about AMMs. Automated marked makers.

That’s how DEXs operate.

There was a lot here. What did I miss blickter?

[cyan rampart]

The balancing is done by a formula, the basic implementation is a constant product formula. Given 2 tokens with variable prices, let x be one token, let y be the other. k is a constant.

x*y=k

What this actually means is that when someone trades through the ILV/ETH liquidity pool, they will either sell ILV or buy ILV. When they do so, the price of ILV will change.

The depth of the liquidity pool (how much ILV + ETH is in it) will determine how much the price moves for a given trade.

Generally speaking, people don't trade liquidity positions much, at least within the Illuvium ecosystem.

[cyan rampart]

Didn't really miss anything, I just wanted to point out how the prices of assets within an LP are affected by trades.

[smoky cove]

Cool, that clarifies a lot for me. Just read a few articles on AMMs and DEXs in general. I was definitely trying to view through the lens of an order book model. To be fair that is more aligned with my background. So much to learn it's actually pretty exciting. Big thanks to both of you!! This forum and the discord channel have been really awesome.

[smoky cove]

Thanks Scoot for your help as well.

[plain jasper]

Looks like in V1 you could simultaneously claim your rewards as you put in a new stake. As you can pass _useSILV to the stake function and there's a YieldClaimed Log on the transaction. Is that basically the same thing as the "Process Rewards" function?
Also, can you do the same in V2? I see "LogUpdateRewards" but you can't pass in SILV into the stake function in V2.

And 1 more thing, in the V1 contract sometimes the input param "_lockUntil" is 0. Could you chose to not lock your tokens for any amount of time in V1?

[gloomy gazelle]

Yes. There was the possibility to deposit and not lock your deposit for any amount of time. Not any more.

[plain jasper]

Awesome thank you.

Did you know anything about claiming at the same time (starting the 1 year timer, or claiming SILV)? For V1 and V2?

[gloomy gazelle]

I know what you could do and what you can do now. But I don’t know what all of the specific functions actually process.

[plain jasper]

Does what you could do include claiming ILV at the same time as you stake it?

[gloomy gazelle]

It was and still is possible to claim rewards as either ILV (to be vested) or immediately as sILV (now sILV2)

[plain jasper]

I was more asking if that claim function can be done at the same time as staking. In the same transaction

[gloomy gazelle]

Yes I think you read it correct… If claiming as sILV you could do just one transaction. Otherwise it would take 2 back to back transactions.

V1 had some wonkiness.

For some people with whale sized deposits they would have earned so much on the moments between their 2 transactions that they would also end up minting significant amounts of sILV dust. It was a weird byproduct

[plain jasper]

I'm confused, so are you saying you could only claim SILV in the same transaction as the stake?

That's what I'm trying to focus on here. In the Stake transaction, it appears as though people can claim their rewards through either SILV or ILV. Basically I'm trying to find all on chain claims and if these can be grouped together I'll miss a lot if I ignore these. But if these aren't real for some reason I'll double count a lot.

[gloomy gazelle]

It’s been too long. I’m not even sure any more. I’ll jump on etherscan and see what I can recall. @regal marten has some good data he pulled here. #🥩〕staking message
Maybe he could help answer a couple questions too.

[ionic heron]

Hi . i would like to migrate my slp from 1 wallet to another. can i do that? my staked slp is already unlocked

[signal kite]

so unstaking your illuvium takes two transactions, and if you screw up by not having enough money by the second transaction, you have to start all over again and you loose you rmoney from the first transaction?

and why do i have to pay gas fees just to upgrade my illuvium. shouldnt you take care of that?

its going to cost my like 20usd just to unstake my coins which are not even earning interest?!?. just so i can..... what pay more gas fees to restake?

[mild tiger]

Just leave your tokens staked if u want them to stay staked. U do not have to unstake to claim rewards.
Claiming does cost gas.
You are in crypto so i have to believe you understand gas

[signal kite]

my tokens are still in V1

[tulip folio]

just hit the upgrade button

[signal kite]

where is that?

[signal kite]

i do but having to do two gas transactions without warning and loosing your first gas transaction because you dont have enough for the second one, is pretty lame.

[tulip folio]

#📣〕announcements message

https://medium.com/illuvium/42-all-you-need-to-know-about-staking-v2-94e77f295ff

It should have big "Upgrade ILV Pool" "Upgrade ILV/ETH Pool" buttons at the top if you haven't done it.

[signal kite]

yeah iv done that but my coins are still stuck in V1

[tulip folio]

oh no that just means they were originally staked in v1, mine looks like this
they are still earning once you've upgraded even if they started on v1

[signal kite]

ahhhhhh bloody hell, thanks for the clear up there, i appreciate it

how do i see what my coins are earning in interest then?

[tulip folio]

Dashboard at the top
ILV Earned Daily on the bottom, second box from the left

[signal kite]

dont worry ill work it out. And maybe someone can clear this up with me. Why two transactions for withdrawling my ILV? its the case for other cryptos too. why do i need to do two transactions. And why if you dont have enough for the second one, do you loose the money for the first one.

[tulip folio]

mmmm weird, in order to withdraw you have to have zero available to claim.
so first you have to claim
then you can withdraw
The claim would have to already go through before you can fail the withdraw, so I don't see how you can lose the gas from the claim.

[signal kite]

okay maybe iv fried out on something, ill go over it. thanks for your help and patience i appreciate it

[ionic heron]

hey guys, if i dont choose to claim my ilv rewards. does my unclaimed ilv rewards earn staking interest and rev dis ?

[ember ginkgo]

No, you have to claim them.

[hollow trail]

ah yes, 600%. The good old days

[finite wave]

Hello Illuvium-Team,
i have some Questions. I could not found them answerd all over the internet, maybe my questions can function as a basis for a second tutotial video about staking from illuvium.
1.     I my stake ends, and I don’t do anything, then I keep earning rewards. The rates will stay the same as those that I staked for (lets say I staked for 1 month).
2.     What do I do, if I want to stake for a longer period and earn a higher rate? Do I have to withdraw and restake?
3.     If I buy more ilv and send them to my eth-wallet, can I add them to a existing stake or do I have to stake new. I guess the later one.
4.     What does pending rewards mean? Does it mean, that they are locked for 12 Months? Or when does the 12 Month period starts?
5.     What does claim mean? I thought I only can claim them after 12 months. Or does this 12 month period only starts after I claim?
6.     When do I have to pay gas fees (claim, withdraw, stake,…)? And does the fees get taken from my eth-wallet? So do I have to have eth on my eth-wallet, even if I claim on the illuvium staking site?
Than you in advance for the answers

[candid kettle]

1. the stake continues to receive rewards and revdis with the weight of the initial lock even after the lock is over
2. yes, to change the weight you must withdrawal out and make another stake with the desired period
   3.must make a new stake, you cannot add to an existing one
3. The rewards lock period is 12 months, starting from the time the rewards are claimed
4. the rewards are calculated per block so each block will have more rewards, you can claim at any time for the 12 month period to start counting for the rewards (rewards in lock receive income and revdis as a 12 month stake )
5. in any operation on the eth network you pay fees, the fees are deducted directly from your ETH wallet (claim, stake, withdrawal) all pay fees

[finite wave]

thank your very very much🙏
some additional questions for verification:
5.so this means, i get rewards from staking.if i don’t claim, the rewards will add up. if i reach let’s say 1ilv in rewards, i could claim this (pay gas fees) and the locking period of 12 month would start for this 1ilv, correct?

7.can i claim existing rewards even, if my original stake from let’s say 12 months has not ended yet?

8.RevDis means revenue distribution? is it correct, that right now the staking rewards are round about 5% and they come from inflation ilv. but in the future this 5% could be higher, because the RevDis would add additional ilv? do i get those RevDis rewards also in ilv and they will come on top of the staking rewards?

thanks a lot 🙏

[candid kettle]

5. correct
6. yes, you can claim rewards at any time
7. the profit obtained from the game goes to buy ILV from the market, this ILV is distributed to the stakers, the bigger the lock the greater the weight for revdis

[elder dawn]

Expanding on 0xTariquinho’s answers since I was already typing…
5. Correct, rewards will show as “pending” until you claim. As you said, claiming is a transaction that takes gas, and the 12 month vesting starts for the 1 ILV. Make sure the amount of rewards claimed justifies the costs
7. Yes, you can claim your pending rewards at any point. The 12 month lock only controls your ability to withdraw your original staked amount
8. Yes, currently staking rewards are around 5%, though this isn’t inflation, it’s the distribution of the dedicated 3 million ILV staking rewards, which lasts through June 2024, though decreases every 2 weeks. Revenue distribution is separate from this, and when received, they will show as pending revenue distribution ILV in your staking dashboard. A separate transaction is needed to claim revdis ILV, and those are immediately unlocked, unlike staking rewards that require 12 months to vest.

[finite wave]

this is really awesome!!!
thank you both.
i think those were valid questions and i could not find them answers in any video. maybe it would be good, to make a full breakdown of the staking.

👍🏻🙏🙏🙏

[cedar crow]

Hi, my staking dashboard shows everything about my asset well but sometimes the pending rewards and revdis showed zero ILV token with invalid claim button.

[candid kettle]

this usually happens when your wallet is not connected to the stake site

the site has to read your wallet to show the values

[gaunt jacinth]

Hi, once I unstake my SLP toke, do I go back sushi to get my ILV and ETH from the liquidity pool?

[gloomy gazelle]

Correct.

#🥩〕staking message

[worn turtle]

This was needed thanks Blick

[gaunt jacinth]

Thanks!

[regal marten]

Hey! It sounds as if you want to get a list of all the staking events you can get. dune.com slash xastor slash Illuvium-Single-Staking-Dashboard (name does not cover the contents, but sadly you can't change dashboard url's in dune :/) has a list of all staking events for a certain address, based on smart contract events. I'm not vouching for it, but as far as I can tell it's complete.

[fleet atlas]

If my staking is expired and not withdraw, will the reward still counting? please

[ember ginkgo]

Yessir

[muted zenith]

should i upgrade my unlocked staked slp to v2 or it does not matter

[candid kettle]

there is no difference

[worn seal]

I cant stake if I user ledger?

[candid kettle]

yes, just use the connected ledger in the metamask

you can*

[worn seal]

idk what that means, i dont have metamask. Will I ever be able to stake directly using ledger?

[candid kettle]

download the ETH application on your ledger via ledger live, after that add the ledger on the metamask to interact with the ETH network

the metamask is just the interface, the transactions are done in the ledger

[lyric needle]

if you google "The Safest Way to Use MetaMask With Ledger Hardware Wallet" it will give you an article written by ledger about setting up metamask.

[worn seal]

unfortunately creating a metamask account isnt possible for me anymore. Ive made like 5 and dont have a seedphrase saved anymore

[candid kettle]

you will not use a wallet created in the metamask, the ledger will create a wallet, the metamask will only be the interface

[worn seal]

but metamask is forcing me to login... I have no way of doing that or creating a new acct

[lyric needle]

If you have no passwords or seedphrase and you will never get those back. You just need to uninstall the extension/mobile app and reinstall or install on a different browser.

[prime pewter]

Hey guys - been absent for a very long time, have a quick question: I had 2 ILV staked for a few months last year but that ended a while ago and I haven't touched anything. Should I transfer back to my wallet or is my ILV safe on the illuvium website? How are gas fees recently, are they high or low? Would I have to pay more gas fees to stake again? What's my best course of action?

[candid kettle]

did you update the stake to V2?

[last hawk]

and please don´t post in every channel. thanks buddy

[candid kettle]

if yes, the tokens continue to yield and receive revdis even after the end of the lock period

[prime pewter]

My apologies

[prime pewter]

Umm I don't think so? How would I know and how can I do that?

I don't think it was V2 when I staked

I'm not sure, been a while

[candid kettle]

https://www.youtube.com/watch?v=rF4jmTGgNdY&t=62s&ab_channel=Illuvium

[pearl coral]

Was getting an error while trying to unstake reward ILV from V1

cant post screenshot in here

[prime pewter]

Watched video but I'm not getting it saying anywhere to upgrade to V2

[candid kettle]

on the homepage of the stake there is an upgrade button, if it is not there for you, it is because it is updated

https://staking.illuvium.io/

[candid kettle]

#❓❗〕community-help

[lethal pier]

tell me how big are the rewards for staking and how to stake coins?

[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.

[final steppe]

The estimated APY% at the moment are:

[lethal pier]

please tell me what is ilv/eth pool?

[last hawk]

Its a 50/50 ratio of both ILV/ETH (in $)

[gloomy gazelle]

!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.

[calm sphinx]

what is the gas cost to claim rewards from the ILV/ETH pool at the moment?

[elder dawn]

i get an estimate around $10. It's a little high at the moment, but not too ridiculous

[round sphinx]

hi all i can claim my rewards after the year of unlock period. some are v1. what do i do to change them for v2?

[gloomy gazelle]

You do not need to make them v2. The v2 contract is able to read v1 deposits. Those v1 deposits keep earning until you withdraw them.

[round sphinx]

What happens when I withdraw the v1 rewards?

[gloomy gazelle]

Hmm. None of the reward tokens are v1. All of the rewards are or were vesting in the v2 contract. When any tokens are withdrawn those tokens go to your wallet. And you can do whatever you want to do with them. And of course once tokens are in your wallet you could sell them or deposit them again or send them to someone else.

[round sphinx]

ok thanks, il lsee what happens when i withdraw from the staking contract

[stone isle]

Hi, i need advice on how to send ILV to Metamask to stake

[dense bear]

It depends where have you acquired the ilv? If it is from a cex you will need to withdraw ilv to crypto wallet put in your MetaMask address and send via ethereum block chain

[cunning perch]

On a CEX like Binance, you click on withdraw ILV, add your MetaMask address on ETH mainnet and send it to your wallet. Then, through #🔗〕helpful-links , stake and lock it in the staking website.

Also, all DMs are scams so don’t answer and ignore.

[gilded wigeon]

is there a tutorial on how to unstake/withdraw SLP and trade it back to stables?

[cunning perch]

Withdrawal is the same as ILV, but to turn it back to stable, you can follow this #🥩〕staking message

[boreal brook]

do yourself a favor and use a cold wallet connected to metamask

[swift rune]

Can I transfer my slp from MetaMask to ledger? How do I do this if possible? Thank you

[boreal brook]

only if it is not staked, add token to metamask to see it, triple verify the info if adding manually

[pure eagle]

If you have it staked and unlocked you will need to withdraw your SLP (it will go to your wallet that I assume is the MM), have your ledger connected with MM and then just transfer the founds from the 1st wallet to the 2nd ledger one. If you want to still have it staked you would need to do that process again from your ledger wallet

[gilded wigeon]

Thanks..is there a difference if i use sushi 1.0 or 2.0?? or i can use either way and its not gonna be a problem?

[stone isle]

I have it on Binance, i have activated the whitelist thing but I don't know if I fill it correctly, it asks for Address Label-Coin-Network-Address-Address of origin/source. What I did was put the name of wallet that shows above the address when I clicked on the MetaMask extension, then i chose ILV as coin, in Network I chose ETH erc20 not BSC, in address I copied the the address from the extension and in address of origin I clicked on Wallet Address and choose MetaMask, is that correct or what am I missing? Also, what should I put on Network Fee once I'm ready to do the transaction?

[stone isle]

How can I do that?

[boreal brook]

hardware wallet such as a Ledger Nano s plus etc, much more secure, they can't get your private key if your computer gets hacked

i have some videos up to help youutube @ilvranger

[stone isle]

Ill check it thanks 👍

[twilit flare]

Point the ac unit at your 👛💵 that will also give you a cold wallet

[cursive yew]

Where can i check whats my lp worth? :)

[cyan rampart]

I usually use Zerion, if you search "ILV/ETH Zerion" it's usually the top result.

$682 right now per SLP token.

Alternatively, you can just do some division on the staking website, assuming you're staked. The value of the position divided by the number of tokens gives you the price per token.

[cursive yew]

Thank you!

[vague sierra]

can you use this site to see your total stake worth aswell? i used to check that on apy.vision but somehow it doesnt show up there anymore.

[short heart]

@keen oxide

!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.

[stone isle]

Thanks man, it was very refreshing 👍

[cinder escarp]

when trying to claim tokens for vesting it says 'new adress detected'. is it correct to claim for adress: 0x7f5f854FfB6b7701540a00C69c4AB2De2B34291D

maybe im dumb but i dont want to get scammed

[vapid mist]

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.

[cinder escarp]

Any mods with answers?👀

[gloomy gazelle]

I’ll take a look

[gloomy gazelle]

You are interacting with the correct address.

https://etherscan.io/address/0x7f5f854FfB6b7701540a00C69c4AB2De2B34291D

Not sure why your wallet is saying it’s the first time if you’ve done this before.

[cinder escarp]

alright thank you

[fair locust]

If my vesting is unlocked, do I have to withdraw first and than stake again or can I let them or accumulating?

[final steppe]

After the vested tokens have unlocked, they will continue to earn yield and rewards at the same token weight until they are withdrawn

[fair locust]

Great - thanks a lot

So I can let them in vesting 👌🏼

[burnt ether]

When starts revdis for stake holders? Is any value already distributed?

[gloomy gazelle]

Yes. The revenue from the land sale was distributed.

But there has not really been revenue since then.

[cyan rampart]

I think Zerion does that, but I don't engage with the functionality personally, I just check SLP price there 😛

[burnt ether]

Hmm thank you

[hollow trail]

No one selling rn due to what happened 1 year ago lmao

[muted zenith]

Does it matter if its on V1 or V2 ?
my vested SLP is also unlocked but its on V1 , do i need to do anything ?

[cunning perch]

Anything on V1 needs to be upgraded to V2. There should be an upgrade button somewhere on the staking website

[slender walrus]

hey my SLP tokens got unlocked after half a year now, do i have to restake them or can i just leave them like they are and they will keep on accumilating staking rewards ?

[candid kettle]

tokens continue to receive rewards and receive revdis even after the lock period is over

no need to re-stake

[slender walrus]

Will the old % of staking rewards be kept ? or will they change to the current

[candid kettle]

the weight for revdis remains the same as for the lock but the APY is variable, it depends on how many tokens are staked

[vapid mist]

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.

[candid kettle]

#🚨❗〕report-scammers

[slender walrus]

i was just wondering because the apy was different and depended on the amount the slp tokens got locked up for

[candid kettle]

send his id so we can ban

[slender walrus]

he took the friend request back after i posted the screenshot thats all i have now :c

[candid kettle]

APY has a constant decay rate and depends on the amount of tokens in lock, the more tokens in lock the lower its yield, the rate is recalculated per block, it is not stable

[slender walrus]

Ahh okay thought it would be locked the moment u lock up your tokens. thanks for clearing that up

[rugged forge]

[tough tree]

Just a question when finally the staking rewards has finished whenever that may be. How does the mechanism work to be eligible for revdistrubition.

[candid kettle]

when the ILV rewards are over, only the revdis will remain, which will vary according to the game's profits, the greater the lock, the greater the weight to receive revdis, with 1 month weighing 1 and 12 months weighing 2

[final steppe]

You would still keep your tokens staked, just as they are now. RevDis will still accumulate on your Staking portal, even after yield farming rewards have ended 🙂

[tough tree]

Ok that makes sense still incentivize people to lock up for periods of time

[gloomy gazelle]

Revdis has already been distributed to stakers in the past. And should be again before the end of yield farming rewards.

[tough tree]

Its such a good system because if the revdis is decent enough people are going to lock up their ILV by staking it and obviously takes away the sell pressure. We could get to a point where many of the ILV is locked and there only a small amount of liquid tokens the price could go through the roof.

[candid kettle]

this

[tough tree]

I guess the flip side of lots of people staking for Revdis is the distrubution has to be shared amongst more of the stakers and you wont get as much. But maybe the token price will then increase. Cant wait to see this all play out soon

[vivid cove]

How much % of your total bag have you got from staking? (Ilv only) 30% of my bag is now from rewards only. Im a bit mad i dident go for the slp back in the days, but from now on i feel happy 🙌

[tulip folio]

44% of my Illuvium stack is claimed ILV... but that's by dollar amount. It's worth pointing out that the more ILV appreciates the more that shifts. If ILV were $500 right now it'd be more like 60% is rewards.

[delicate plaza]

Is there any gas difference between withdrawing multiple deposits of staked ILV vs a single larger deposit? For context I'd prefer to just do multiple deposits that are small so I'd have the option of withdrawing in a few years time small amounts incrementally but still being able to withdraw all at once if I needed without a gas difference to if they were all staked as one and withdrawn as one.

[gloomy gazelle]

Each transaction costs gas. And the amount of ILV in each transaction does NOT significantly impact how much that transaction costs. So the more transactions you have the more gas you will need to pay.

Rewards can be withdrawn from multiple claims in a single transaction at very efficient gas cost. But withdrawing multiple deposits in a single transaction has only a small reduction in gas compared to withdrawing each individual deposit in its own transaction.

[delicate plaza]

Thanks! That's just the info I was looking for. Appreciate the help as always 🙏

[plucky jewel]

I just set up my ILV/ETH (SLP) staking guys. Great to be part of this

[brisk surge]

Hi guys, do you know if someone from the team had a chance to check the difference between the APR on the site vs. the actual APR that accrues daily?

[jaunty mason]

how do i stake my ILV that i purchased on coinspot?

[cyan rampart]

!staking Try this, let me know if you have any issues.

[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.

[steady meteor]

Quick question, locking period will affect the weight of revdis you will receive?

Greater lock period, more revdis you ll get

[boreal cape]

Hello defi people. Is it normal that my “ILV earned daily” did not increase even though the APR/APY of SLP staking pool increases? Or maybe h increase is not substantial?

[bright heart]

You're still earning let say 1 ILV per day, but that ILV is worth more. So APY increases, but daily you still get the same ILV.

[gloomy gazelle]

@worn turtle had you looked into this further? We had been in a thread a long while back.

[boreal cape]

Hmmmm…. This is new to me. Well I’m not a defi person. Hehe. But isn’t that the yield depends on the APY so the higher APY the higher the yield in ILV.

[gloomy gazelle]

APY is determined by yield. Not the other way around. The ILV amount of yield is predetermined by the contract. But the APY is calculated using the usd value of that yield (ILV rewards) compared to the usd value of the deposit and both of those things vary for eth/ILV deposits.

[gloomy gazelle]

Yes. Because the longer lockup can increase your weight to up to 2x. So it’s as if you staked 2x the amount of ILV than what you actually staked.

[boreal cape]

I kinda understand now, not fully though. But basically the APY will continue to go down and will sometimes increase if the USD value of the ILV token increases. And your ILV earned daily will just keep dropping because it is what’s in the contract?

[gloomy gazelle]

Mostly. Technically it’s possible for apy and daily ilv to go up if a lot of staked deposits are withdrawn. Increasing your personal share of the globally preset amount of ILV being distributed that is shared between all stakers.

[bright heart]

Technically after 12 epochs(24 weeks) rewards will be flat for the third year of staking.

[gloomy gazelle]

That’s just the UI. It will continue to decrease by 3% every epoch.

Right? I’ve never heard that the contractual decrease stopped in the last year.

[bright heart]

I guess the visuals are deceiving a bit 🙂

[boreal cape]

Yes because it’s supposed to go to 0, ryt?

[gloomy gazelle]

Eventually the last epoch will use the last of the 3m ILV for yield farming rewards. Only after that will the apy actually go to zero.

[worn turtle]

So currently there is a little UI bug thats being investigated, rewards are correct but daily reward seems to be having an issue

[cosmic briar]

Hey ... i staked on iluvium last year, i havent checked back in a while, but i just checked recently and my deposit seems to be gone, dont think it was stolen because it hasnt been a full year for unlock, but nothing is staked and i can't find out how to upgrade to v2 staking assuming thats the problem, can anyone help me?

[pure eagle]

Hi I will create a private thread to see how we can figure this out

[prisma juniper]

hi, friends. sorry for the noob question but i've been out of the loop.

I have a small amount of SLP that unlocked recently (V1). Do i need to restake it in order to generate rewards or does it still do that when leaving it as it is?

[elder dawn]

it will continue to earn rewards. you just have the option to withdraw now if you'd like.

[prisma juniper]

I see, thanks Deraji!

[mint berry]

Gn

[trail hornet]

Oi lads I have a question. If I have v1 Ilv that is ready to withdraw, is it still earning interest?

Like could I just leave it all in there and continue to earn interest on the ilv

[craggy field]

Yield and revdis will continue to be gained if you leave them there unlocked.
As long as you keep them there, your rewards will grow. At the same pace as they have been.
1 month lock -> 1.08 weight -> wont go up to 2 unless you restake for a year f.e.

Once you withdraw it will stop and you'll have to restake.

[obtuse tulip]

Yo quick q folks. Staked my ILV for 12 months on a locked period. What does weight mean? Does it mean i get double my coins after?

[distant coral]

You get more rewards

[trail hornet]

Ah thank you

[gloomy gazelle]

It lets you earn more rewards because the staking contract will pretend that you have 2x as many tokens staked. But when you withdraw your deposit it will be the same as you deposited.

[visual oar]

gm, how can I unstake my ILV Token on the site and get back on my wallet? I do not find a button for it!? Thanks! And when I unstake will the rewards automatically claimed and moved with the stake to my wallet? Thanks again..:o))

[gloomy gazelle]

!claim first. Your rewards claimed as ILV will now be able to be withdrawn until later. And be sure to know what sILV2 is before you claim that though. Read the bot post below for more info on claiming.

Then go to VESTING tab to withdraw any unlocked deposits. Unlocked deposits keep earning until you withdraw 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.

[visual oar]

Thanks! But when I claim the Rewards first, it says the are locked for 12 months!??

[gloomy gazelle]

That’s how the illuvium staking protocol works.

Your deposit and your rewards unlock at different times.

[visual oar]

Hmmm, and when I only unstake my stake and did not claim my rewards doesn`t make sense, as the rewards stay there for ever and will not add value, correct?

[gloomy gazelle]

Perhaps you have other rewards that you already claimed and started the vesting period for that will unlock sooner.

[gloomy gazelle]

Correct. Unclaimed PENDING rewards don’t actually exist until they have been claimed.

[visual oar]

OK and claimed rewards will not collect additional rewards, correct?

[gloomy gazelle]

Claimed rewards WILL earn.

[gloomy gazelle]

Read this again if you need.

Claimed rewards are locked for 12 months in the ILV only pool. And earn until withdrawn.

[visual oar]

ah thats good, so for the 12 months they earn, but this rewards needs then also calimed again and also blocked for 12 months or will the added to my claimed rewards and can be withdraw also after the 12 months blocked period?

[gloomy gazelle]

Also claimed and locked for 12 months.

But by the end of July 2024 there will not be any more yield farming rewards and there won’t be any more rewards that need to be locked up after claiming. So any claim after July 2024 will be your last claim that moves ILV into the vesting contract.

[visual oar]

and is it better to claim as ILL or as sILL or doesn't matter?

[gloomy gazelle]

It matters very much. ILV and sILV are not the same thing.

[visual oar]

I know..

[gloomy gazelle]

sILV2 claims are minted immediately to your wallet.

but you get the tokens as sILV2.

So the question to ask is what do you want? sILV2 tokens now. Or ILV tokens that are locked but earn for the next 12 months.

[visual oar]

and the sIlv can be swaped at DEX....

[gloomy gazelle]

There has been some liquidity on uniswap. But recently the sILV2/ETH liquidity pool has been pretty shallow. So be careful if that’s what you want to do. sILV2 does not trade at ILV usd value. But it is like a gift card that can be used to buy stuff from illuvium and it’s accepted as the same value of ILV.

[visual oar]

make sense.. Thanks!!

[visual oar]

I checke, as I have not that much Rewards it makes no sense at the moment as the gas fee is 50 % of my rewards...:o)) Will keep it for the momment..

When under Vesting unlock period is no date, then the stake could be withdrawn, correct?

[gloomy gazelle]

Gas is still usually much cheaper on the weekends

[visual oar]

Yep..:o)) And keeping the stake even if it is not locked anymore, will still bring rewards, correct?

[gloomy gazelle]

Yeah. If there’s a withdraw button then You can withdraw. Otherwise the withdraw button will not be there.

[gloomy gazelle]

Yes. It keep earning.

[visual oar]

may I add another stake as felxible stake (can be withdrawn any time) to further increase my Rewards, so that it make sense to claim them...:o))

form another stake the rewards will also go into one Reward pool, which I can claim as one?

[gloomy gazelle]

Flexible deposits are no longe possible. Minimum lockup is one month. But yes as many deposits as you want. All pending rewards accrue together and get claimed together.

[visual oar]

Many Thanks for your patience!! I think as land owner makes more sense to claim sIlv...:o))) Greetings from germany!!! 🤗

[vivid cove]

Soo thankful for the stake that is locked and earn new ilv. Never been easier to Dca

[tired cosmos]

Staked ILV or SLP is still eligible for RevDis right?

[bright heart]

Yes. Only ILV part of SLP though.

[tired cosmos]

Does you have quick calculation to how much 3 ILV would be in terms of vesting as 12 minths?

[cyan rampart]

APR is 6%, and will likely decrease over a year. 6% of 3 is .18.

So after a year, you'd have 3.18 ILV, if the APR were static (it's not).

[shy aurora]

In future and I hope…..Let’s make ilv deflationary via revdis if possible DAO DAO

[versed coral]

If I turn SLP to eth and ILV again, it matters only the current ratio which can be seen on app.zeroin?

[cunning perch]

Yep

[versed coral]

So it looks like I am getting more and more eth back if this continues.

[cunning perch]

That is called impermanent loss. The more ILV goes up, the more you lose it to ETH

[hidden bobcat]

Hello! I am trying to find my LP position but I can't seem to figure out where to find it

[cunning perch]

Have you staked in the Staking website?

#🔗〕helpful-links

[versed coral]

I don’t exactly remember the ratio when I did my first SLP stakes over a year ago, but I think it should have been around 0,5 eth

[distant wharf]

does the weighting make a difference for rev dis, or only inflationary rewards?

[cunning perch]

Well, if you turn it to ETH/ILV, you will get what the ratio is at rn.

[versed coral]

Yep. Either way I am staked until end of 2023 with SLP and then need to see from there whether to go full ILV or keep the SLP

[cunning perch]

The more weight, the more RevDis. Wouldn't make sense if someone is committed for one month getting the same RecDis as someone who is committed for the whole year. However, there is no RevDis atm. First one came with land and next one will be with Illuvatar sale

[cunning perch]

Hope you end up with tons of ILV

[versed coral]

I am still unsure what to do with the unlocking ILV in march. Initially I wanted to add fresh eth to make more SLP until EOY but might be better to keep full ILV. Let’s see 👍

You too, hopefully 🤞

[cunning perch]

Thanks. That's a personal choice which makes it hard 🙂

[versed coral]

Exactly. If the price rises a little bit more, I pretty much broke even now with my full investment and staking since 1,5 years. So I am glad to see this rise now

[cunning perch]

Yeah but you have also received good Yield from SLP. So hopefully everything will turn in your favor 🙂

[versed coral]

Yes. Thanks to that yield I can break even. Without it, my avg buy would be around 400$. Now it’s around 150$

[cunning perch]

[hidden bobcat]

may it be that my position cant be unbundled because is still under lock?

it might be that...I can't even remember if I unstaked and re-staked it

[cunning perch]

You can find everything that is staked under the “vesting tab” on the website

[hidden bobcat]

Arash, thanks a lot. I just recognised my position.

[cunning perch]

You are very welcome

[old yarrow]

Hey just a question for folks to refresh my memory... When a stake is unlocked, do i need to withdraw and restake? or can i just let it sit there and it's still earning like normal?

Second question... how much ILV and ETH make up 1 SLP - is there somewhere to track this? tx

[elder dawn]

It continues to earn. No need to do anything.
For the current slp, go to zerion and search the slp contract from helpful links. It will show current price and token composition

[keen oasis]

How to play this game bro?

[elder dawn]

!beta

[woven ibex]

Beta Access

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

You can increase your chances of being selected for the closed beta of Illuvium by following these steps:

1. Achieve the <@&870923789985271828> (Level 5) status in the server
2. Get the <@&969492770102341634> role in #1038034977864032276 and promote Illuvium
3. Participate in and win the weekly trivia competition
4. Obtain the <@&1059575774589485116> role from Collab.land

[wooden crest]

Hi, are the ILV rewards that are not withdrawn considered as staked even if they can be withdrawn ?

[plucky jewel]

And the APR is the same as before? Like ~80%+ if you staked for 12 months and less if you staked for shorter time-frame?

[old yarrow]

so on zerion it shows the contract price of SLP at ~$870. Does that mean I need 870 of ETH, and 840 of ILV, to get 1 SLP?

[old yarrow]

Yea my same question. Will I have the "2X" or whatever I had before applied, or do I need to restake for a year to get that?

[elder dawn]

No, SLP is effectively its own token. it's 50/50 ETH/ILV, so right now, its $435 each ETH and ILV to give 1 SLP token

to make 1 SLP right now, it's 4.274 ILV and 0.26 ETH - shown lower on the Zerion page

[idle parcel]

hey guys, i provide liq to ETH/ILV

do my rewards lock 12 months "AFTER" i hit the claim button, or it;s just automatically 12 mths from date of reward farmed irrelevant of if i click claim rewards or not.

[brisk surge]

The vesting peroid begins when you claim the rewards. While they are still pending (before claim) they do not earn rewards and dont start the vesting countdown.

[prisma schooner]

I've got 7Ilv to claimm, think I shhould take the silv2?

and 21 ILV waiting to be withdrawn at 2x weight, should I leave that there?

or is that 21 Better to sit for the eventual rev dis?

I take it out and it loses 2x weight?

[plain hatch]

No point in taking it out if you are just going to restake

[prisma schooner]

Yeah I want to hold my ILV

[plain hatch]

Yah keep it unlocked and hodl. not claiming mine cuz i dont plan on selling so no point locking it up for another year

[prisma schooner]

Even with ALL the rewards and getting in around 400$ ILV im still at some big losses XD. Debating buying a ton of ILV on the next big dip and staking that for big future revdis

[plain hatch]

yah man think most of us are... should see some dip in march ill probably stack up then

[storm wolf]

guys where is link to sushi swap?

we can't do slp pool any more?

[pure eagle]

!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.

[ionic heron]

Hi. If i withdraw my SLP. will that also automatically claim my ilv rewards?

[worn turtle]

It claims them at same time

[native fjord]

Is it possible to see one's vesting history?

Also, I've been staking in the ILV/ETH pool for quite sometime (since July 2021). I noticed on the Vesting page, it shows a "V1" next to the deposit. Shouldn't it show a "V2" instead?

[strange wadi]

It shows V1 if it was staked during V1.

[native fjord]

Got ya. Should I be withdrawing it and restaking so I'm using V2?

[strange wadi]

No. When V2 was introduced you could upgrade to V2. You had to upgrade to continue earning rewards. Pretty sure red V1 means you have not upgraded, grey V1 is upgraded.

[native fjord]

Ahhh, ok. Yeah, I recall upgrading it, but figured it should say V2. I was confused.

[strange wadi]

There’s also a video in pinned comments if you wanted to revisit any of that info.

[native fjord]

You have any idea about seeing vesting history? Is this possible?

[strange wadi]

I would just look at your transaction history on etherscan. I don’t think history is part of the staking website.

[native fjord]

Cool. Righto, I will.

Am I correct in understanding that when I staked my initial ILV into the pool for 12 months, after that period of time I'm able to withdraw the initial deposit?

[strange wadi]

Correct. You can withdraw after the lock period. It continues to earn rewards while staked even when unlocked.

[native fjord]

Right on. Thanks for the clarification and help!

[clear cape]

Damn withdrawing my SLP V1s gonna cost me a few hundred bucks to do lol fml

[craggy field]

You have that many positions? How did you even get those positions with proof of work and 100 gwei back in the day 😄

[clear cape]

Yeah..lets say i burnt through a lot of ETH lol

I made about 10-15 DCAs in a month the more i read about ILV

[craggy field]

Oh great, DCA-ing into very edpensive staking contracts is also a trading strategy i suppose hehe you can always just keep your SLP locked indedinitely 😄

[clear cape]

It definitely wasnt the best idea at the time 😄

[prisma juniper]

even SLP V1s should still get rewards even if unlocked, as long as they remain staked right?

[clear cape]

As long as you dont withdraw, yeah

[prisma juniper]

noice

[stuck skiff]

Warning! Error encountered during contract execution [execution reverted]

never had this before, now had this error 3 times - any thoughts why?

[sick bloom]

Have you completed the migration process

[stuck skiff]

This is Not related to staking v1

[sick bloom]

I think once the contract has been updated it will have an effect on all, I stand to be corrected tho

[stuck skiff]

@pure eagle @cyan rampart

[pulsar sonnet]

I've read somewhere on Twitter that in March 230k ILV will get unlocked 🔓 is that seed investor Tokens?

[dense bear]

Yes some seed but it is mostly because staking was suspended from Jan to late March with the upgrade to v2 so late March is when heaps of those transition stakes will be unlocked and available for withdrawal from staking v2

[idle parcel]

ok, thanks for responding!

[pulsar sonnet]

aaahhhhh right right, I remember and that makes sense..thank you

[hallow lion]

Question for everyone. I have several ILV where the vesting period has ended. Are they still receiving rewards, or should I withdraw them and stake them again? @median canyon @dry junco

[worn turtle]

Yes they are receiving same weight, please refer to #✍〕rules also and don’t pings the admins/ccs

[hallow lion]

Sorry about that @worn turtle I am accustomed to pinging the admins on other channels to avoid scammers. Thank you for the quick response

[vapid mist]

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.

[craggy field]

Please ping @ember ginkgo whenever you require help. He is always ready at any time of the day and loves helping people 😄

[ember ginkgo]

Please don't spread false information.

[hoary yacht]

Hey guys what pool most people stake their tokens? Eth/Ilv seems way much more attractive 😅 is anyone actually got burned from impermanent loss?

[elder dawn]

Depends what you mean by burned. Since IL is really a function of the eth/ilv price ratio, its definitely had an impact on a lot of stakers, but slp rewards have been quite significant.
There's a mix of which pool people have selected, though the slp has been pretty stable in volume for a while now.

[hoary yacht]

Thanks Deraji, still trying to get my head around on impermanent loss. Not sure what pool to choose

[gloomy gazelle]

Deraji’s old article takes a detailed look at it. #🥩〕staking message

[glossy dirge]

When does staking end again?

[gloomy gazelle]

Staking does not end. BUT the yield farming rewards ends July 2024

[worthy pond]

I also had the same error - Warning! Error encountered during contract execution [execution reverted]
@gloomy gazelle ser can you advise plz

[gloomy gazelle]

Sorry I’m not really available today.

I’ll open a thread though.

[quaint socket]

After the 1 year vesting period, if I chose to leave the rewards unclaimed, they will continue to earn interest right?

[ember ginkgo]

Yes

[stuck skiff]

Failed even though I upped the gas. I upped it again and it went through just now

[scarlet epoch]

Hi @ember ginkgo , One additional question regarding the Ilv rewards for vesting our Ilv tokens. Please confirm that when we want to withdraw these rewards, we also need to wait an extra year to actually be able to use these rewards freely? 🤔 Thank you in advance for your reply and have a nice Sunday 😀

[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 cosmos]

Hi someone please help me. I can’t claim my il from yield farming and haven’t been able to for months!

[sick bloom]

What error message do you receive

[scarlet epoch]

Thanks @ember ginkgo for your reply 😀

[final steppe]

Yeah, let's take a look. I'll get a private thread started under the #❓❗〕community-help channel. Don't trust any DMs you receive!

[scarlet epoch]

@ember ginkgo I have then got one last question regarding the bot information regarding the claim. What happens with my rewards at the end of the 1 year initial vesting period for my ILV tokens, if I don't claim my rewards before? Do they get locked automatically for one year or they are released along with my initial staked ILV tokens? Thanks again. 👍

[pure eagle]

The vesting period (12 months) for your rewards starts once you manually claim them, if you don't they keep accumulating and stay as non claimed rewards

[scarlet epoch]

Thank you so much @pure eagle for your reply and input 🥰

[minor shadow]

Yo, can we get the devs to change the staking page font color from black to white as it was before as itss really hard to see.

It was so much easier to see before than it is now. Its simple CSS change and would improve the user experience by a lot, thanks!

[craggy field]

@worn turtle Is it safe to ping Carlos for stuff like this? Or should I just ping you for this 🙂 I don't want to bother them or you for small bits and pieces everytime hehe

[worn turtle]

You can ping me

[wooden cosmos]

No error message just i got to claim and then nothing happens! I don’t know what else I can do…

[shy basalt]

Hey @minor shadow, thanks for reporting the issue. We missed this in an update we did recently. We'll get it fixed shortly.

[winged heath]

How come im getting this error when trying to withdraw my ILV?

[cyan rampart]

This happens sometimes to V1 deposits where you've claimed sILV2.

It can be resolved by claiming Rewards (through the Rewards tab) as ILV.

[worthy pond]

just saw the msg - will try again

[plucky jewel]

Do I get it right Ser? Example: One staked for 6 months. After the six months the INITIAL STAKED SLP gets freed up to exchange. And the staking REWARDS gets freed up exactly 12 months from claiming these rewards. Is that it?

[cunning perch]

Look at it like this:

-You have 10 staked ILV that are receiving rewards.
-On Dashboard, you can see you have 2 ILV as rewards.
-When you claim that 2 ILV, they will get locked for 12 months. (They will compound to your initial deposit of 10 ILV with a different unlocking date) (each claim and each stake will have their own unlocking sequence)
-If you don't claim, you will not have your rewards. When you claim, you will have them a year later.
-When you claim, those claimed rewards will get Yield and RevDis, if any.

[plucky jewel]

Aha, ok, thanks a lot. I get it.

[cunning perch]

[placid fractal]

Hey guys. Does anyone know how much longer staking rewards will continue to be paid? It looks like about half have already been sent out so I guess at least another 18months

[cunning perch]

Yield will end on June 30th 2024. Exactly 3 years from June 30th 2021.

[placid fractal]

Thank you ser 🙏

[unborn rivet]

In staking why are there two different pools?

[tulip folio]

One is for plain ILV by itself. The other is the liquidity pool where people supply ETH and ILV (equal $ amounts) and receive sushi LP tokens. Then they can stake the LP tokens in the Illuvium SLP pool for higher APR. This is due to the risk of impermanent loss as well as to incentivize liquidity for ILV/ETH swaps.

your ILV receives revenue distributions no matter which of the two pools it's in, however only the ILV half of your SLP receives revenue distributions. The ETH portion does not.

[unborn rivet]

Thanks

[unborn rivet]

I will stake for 12 months in the plain ILV via the offical website

[bright heart]

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

[rain dune]

anyone have a high level summary of how rev distributions will work with the coming illuvitar sale? I've been out of the loop for a while now

[elder dawn]

#1068378482352083006 - Non-sILV2 revenue up to $15 million USD will be held in a safety pool reserve (as USDT) to fund development and sustain DAO activities if required until it is deemed unnecessary.

[night wagon]

Is there an issue with the staking currently?
When I try to check the Vesting etc within the dashboard nothing loads, just a spinning circle.
My pending rewards are also showing $0, which is definitely false.

[minor shadow]

Nice, thanks!

[gloomy gazelle]

Try clearing browser cache.

[night wagon]

Done, still the same unfortunately.

Its the Rewards, Vesting & Pending Rewards that fail to load for some reason, even though it recognises my SLP/ILV balances just fine.

Ah its back, no idea why but its back!

[brisk surge]

Once the staking period ends and people withdraw their SLP, will it still be possible to swap ILV to ETH using sushiswap?

[sick bloom]

Yes

[gloomy gazelle]

Actually how it works is that you will need to remove your liquidity and then you will get your eth and ILV back. Then you can swap your tokens as usual.

[brisk surge]

I understand how to get the SLP token out and get my ETH/ILV back. What I'm worried about is that once yield farming ends, everyone will be withdrawing their SLP. So I'm worried there won't be any liquidity to trade using sushiswap after yield farming ends. Will I have to use a centralized exchange or do you think it will still be possible to swap ETH/ILV using sushiswap after yield farming ends?

[gloomy gazelle]

There will always be some incentive for providing liquidity. It probably won’t be the same as yield farming rewards. But the pool depth will probably be pretty deep

[brisk surge]

Okay thanks Pelican

[elder dawn]

This is also something the council is aware of, and ensuring sufficient liquidity is critical to the project. Current council approved the removal of the DAO's component of the SLP for now, but that is something that could be restored in the future, or an alternate means of incentivizing liquidity providers could be proposed. As of now, staking rewards are doing their job ensuring the ILV/ETH pool is functional.

[brisk surge]

are there any other DEX's to swap ETH/ILV if it's not possible on sushiswap in the future? Would 1inch still work? (I'm thinking in 2025 and beyond, after all staking rewards are distributed and all SLP is withdrawn)

[elder dawn]

The official pool is on Sushi at this time. Anything is possible in the future, but as of now, there's not a reason to change platforms. As a DAO, we would want to ensure all the SLP is not withdrawn, and potentially incentivize it or provide it ourselves if necessary.

[brisk surge]

Thanks Deraji. I'd prefer to use sushiswap in the future (post yield farming) as that's what I've used in the past for swapping ETH to ILV. I hope the official pool on sushi will still be an option after yield farming is concluded. Maybe I'm just worrying too much. Thanks for your time.

[tulip folio]

All understandable, I've had the same concern and voiced it here a few times. Answer is always along the lines of it's not a problem now, if liquidity gets low there are several options and don't worry. Even in my mind it's not a big concern. Super easy to just allocate more rewards for SLP stakers. I just wanted to know there was a plan ready.

[elder dawn]

https://tenor.com/view/everybody-stay-ready-kevin-atwater-chicago-pd-were-always-ready-ready-up-gif-21689201

[brisk surge]

I am very confident that the SLP staking APR on the website is not correct.
It says ~80%, but it's actually ~50%.
The daily rewards in the UI, the amounts in the Vesting tab, and even the amounts in the smart contract (on etherscan) are all consistent and they amount to ~50%.
The only outlier is the SLP staking APR; I don't know how the SLP staking is calculated, but it's not correct.

[worn turtle]

I opened up your previous thread to investigate

[sage scroll]

cheers mate, I hope you lift the dust for a reason Fixing fixing

[brisk surge]

Thank you

[brisk surge]

Just trying to understand the APR 😶

[dense flare]

outcome?

[brisk surge]

Team will look into it

[violet isle]

Guys... Whats the best option for who has just as small amout of ilv? let's say 5 ilv? Should I go for single staking, or the ETH/ILV pool?

[candid kettle]

in the LP stake only the ILV part receives revdis, in the ILV only stake all ILV stakes receive revdis, thinking of a small amount I believe that the ILV only stake is more interesting than the ILV/ETH stake DYOR

[violet isle]

Hmmm... good to know that !

[dense flare]

What amount makes ILV/ETH stake worth it IYO

[candid kettle]

it depends on how much ILV and ETH will be correlated in future, you have to take into account the impermanent loss and simulate revdis

[lusty pecan]

I would say if gas fees are more than 10% then its not worth it

[glossy trench]

hello, how do i resolve this? i checked Rewards tab as well but it's no rewards there

[sick bloom]

Complete a hard refresh process on your account

[glossy trench]

scammer alert lol

[vapid mist]

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.

[glossy trench]

Re: fixed after finding the "Upgrade to v2 staking" note on some page

[sick bloom]

Without sending you a dm

[glossy trench]

nah get outta here scammer

[vapid mist]

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.

[shy aurora]

Lol scammers everywhere

[vapid mist]

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.

[stray magnet]

🚀

[pine charm]

hi guys, i have a question, you can get sILV or more ILV as a reward of ILV staking right?
if you choose to get sILV you can instantly use them in the game, when it realise, and it will affect the suply of ILV. But if you choose to get ILV you will earn them 12 months later?

[tulip folio]

Pretty much spot on.
Yes you can claim either sILV2 with staking yield or ILV.
Yes sILV2 are unlocked, can be withdrawn instantly and usable (though only use so far was land sale, but illuvitars coming in a month)... or tradeable on the unofficial uniswap sILV2/WETH pool.
Yes ILV claims have a 12 month vesting period. As soon as you claim them and they start vesting they are considered staking, and they will earn yield + revdis while locked for 12 months. Then once unlocked you can withdraw if you want or leave them there to keep getting yield/revdis.

[pine charm]

okay thanks, one more thing, you can buy directly sILV2?
that will affect the price indeed and could be resulting in a deppeg of synthetic token no?

[tulip folio]

officially you can redeem sILV2 in official sales and in-game once launched, the redemption value is equal to the value of an ILV token at the time of redemption. if ILV is $87.44 now, then sILV2 can be redeemed as if it were $87.44 worth of ETH. (remember someone claimed 1 sILV2 instead of 1 ILV somewhere so theoretically they have the same value)

there's no official way to buy sILV2 directly. however since it is a token on the Ethereum blockchain, it is openly tradeable. a user created a uniswap pool and provided liquidity. people sell their sILV2 there for less than face value, currently ~$45. people want liquidity and are willing to sell their future giftcards for less to get cash now.

on the other hand, you can buy sILV2 from other users for $45 and save it and redeem once the game is live. if ILV goes up once the games launch to $200, your sILV2 you bought for $45 can be used as if it was $200 worth of ETH to buy fuel or whatever in the game, earn NFTs, and sell the NFTs.

it is anticipated that as more avenues to use sILV2 open up, the price should appreciate to very close to the price of ILV.

Worth pointing out, the users holding liquidity in the uniswap pool can remove it at any time. It may cease to be able to be traded, so if you bought a bunch seeking to flip it you may be stuck with gift cards and no way to use them until game launch.

[pine charm]

thanks for your time keiser, the last thing, the treasury intends to use the tokens as the holders decide right?
What purpose does the vault have? repurchase tokens to deliver as rewards to holders?

[elder dawn]

the treasury receives revdis to fund DAO operations, though its also a pool to use for funding or other means that the DAO decides. The DAO needs to maintain sufficient treasury to maintain operations under the revdis/tokenomics model. The Vault is the temporary storage of revenue to distribute appropriately between eligible ILV -convert ETH to ILV, distribute ILV.

[pine charm]

nice, thank youu!!

[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.

[civic igloo]

Can I see APY for staking ilv somewhere?

[candid kettle]

https://staking.illuvium.io/staking

[true seal]

I have my MM connected to staking, is it possible to connect Ledger/Trezor to MM without losing the staking rewards?

[candid kettle]

you made a stake using the MM and want to change it to a cold wallet is that it?

[true seal]

yes

[candid kettle]

Was the stake made on V1 or V2 of the contract?

[true seal]

I have all my stakes on v2

I knew that it was going to happen..., people are already trying to scam me in DMs...

[vapid mist]

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.

[candid kettle]

I'll open a thread any DM is scan

[opal lotus]

The fees for staking, claiming and restaking will eat up your profits, Not worth it. Just buy more ilv

waiting 12 months for .34 ilv is ________

[brisk surge]

Have any internal (publicly available) numbers been run on projected number of tokens on average any given day will be staked? Have any metrics been run on this? What about projected sILV2 burning? I'd really love to start counting my chickens before they've hatched and I really don't feel like sharing revenue 10 million ways just bein real xd

[brisk surge]

Not unusual

[gloomy gazelle]

Yeah. The staking page has some numbers you may find interesting

[brisk surge]

I can't read numbers tho so gimme a one line summary

Spell the numbers out using letters tho. Just make it so that I don't have to do any thinking. Cos I'm like really busy

[gloomy gazelle]

Give me a minute

[brisk surge]

I'm talking projections here tho. Like once revenue gets going. Not historical

[gloomy gazelle]

You get what you get and you don’t throw a fit.

Estimated Total
Eight million ILV

[brisk surge]

So perform an entire personality change?

Ok so what am I looking at. This is the estimated total ILV that will ever exist?

Sorry but are there no other greedy people in here like me who want to calculate their monthly earnings 12 months in advance on a daily basis? Do you even have any idea how long it takes to get in to see this plastic surgeon?

[gloomy gazelle]

That’s right. Estimated total ILV tokens that will ever exist.

[brisk surge]

Hmm, I thought I updated to V2 but these have a V1 tag.

[brisk surge]

This has made my day 20% better

[gloomy gazelle]

So… I’ve got some bad news though. This number is not very useful for your calculations though. I think it’s still got some errors and it’s not counting some ILV that you would probably want to count.

[brisk surge]

Oh because I was just writing the lawsuit to serve on you for when this calculation is off by 3 ILV.

[gloomy gazelle]

I’m afraid there was a few goofs along the way. One was perhaps mine for answering. One was certainly yours for asking.

And another belongs to A certain someone else

[gloomy gazelle]

#🥩〕staking message

[brisk surge]

Please don't ping the moderators for no reason, rule #2

[gloomy gazelle]

So lelahel’s spreadsheet is usually accurate when it comes to current token counts. And it usually gives graphs to then use to extrapolate future counts. I do feel like I need to check the sILV2 counts though at the moment. But it’s difficult to do when on my phone. #🥩〕staking message

[brisk surge]

You're a legend, thankyou!

[gloomy gazelle]

It’s a fun spreadsheet. But I just checked. And it unfortunately is working with 6 month old data.

Oh wait. Maybe I was in the wrong version of his sheet. I was.

[brisk surge]

That's ok, I'll just assume for ease's sake that there'll be 9m tokens, and 80% of the staked at any point in time. I'll assume that of those staked, half will be staked at 2.0 weighting.

[clear cape]

And what are your revenue expectations?

[steady trellis]

sILV2 minted 352,562
sILV2 burnt 239,849 (68.03%)
ILV rewards unclaimed 123,880 (5.21%)
% of rewards as sILV2 14.83%

[gloomy gazelle]

Thanks man. I’d thought the unclaimed numbers I was seeing were a bit high. This is better.

[dense fable]

Gm everyone. I am new here, trying to understand the staking tokenomics and have one question.

Will sILV2 token sinks / spends go into the revenue distribution rewards for staker as well? Or just ILV spends?

[craggy field]

only Eth spends go towards staking revdis. sILV2 spendings get burnt

[dense fable]

Great, thanks a lot. Is there any link for examples of eth spends ingame? (how big this can be?)

Also one more Q - when the staking epoch ends, only the "Revenue distribution" will be distributed among the stakers?

[craggy field]

the only ethereum that was spent and went to revdis is from the Land Sale (for now)_
#📣〕announcements message

All stakeholders got 70 cents per ILV token from this!

[craggy field]

when staking yield-rewards stop in Juli 2024 (they do reduce at 0.97x per 2 weeks) the only rewards you get will indeed be in Revenue distribution.

[dense fable]

Awesome and for the future eth spends anything is planned?

Like the Illuvitars launch e.g.?

[craggy field]

yes Eth will be able to be spent on Illuvitars along with sILV2.
(ILV for the record isn't able to be spent. It's there for governance only)

[dense fable]

Great, thanks a lot @craggy field Really appreciate your help.

[craggy field]

someone just reminded me of Merch? :] That may also come around in the upcoming months and will cost Eth and partly go to revdis (profit distribution)

[wicked flicker]

Wen rev dis

[pine charm]

So the information in coinmarketcap is incorrect?
Máx Supply:
10,000,000
Total supply:
7,480,609
As far as i understood, the supply of ILV is directly afected by the generation of sILV2 no?
But if there is only 352,562 sILV2 minted...

[tulip folio]

10,000,000 max supply
BUT ~352k sILV2 minted. projected final max supply of ILV will be around 9,600,000
There's also the treasury of ~1.5m ILV set aside
in-game yield (prizes) of 1m ILV set aside
staking yield currently being released & claimed & unlocking (none unlocking right now but they start back up again March 24)
founder/team/seed/preseed tokens being unlocked constantly

I think true circulating supply is really like 5m or so? but a lot are locked in staking
no idea where that coinmarketcap number comes from, that doesn't sound like any reasonable number I've seen.

[pine charm]

mmm I think they have subtracted the sum of the treasury with the game rewards with the sILV2 tokens, to the maximum amount

What is the current % of the monthly ILV inflation?

[gloomy gazelle]

Not sure percentage wise. But it’s currently strictly linear unlock until like March 30. Close to 213,887ilv/month. (Claims to start Yield farming rewards’ 12 month vesting period were paused for a few months a year ago, so it’s only the preseed, seed, team unlocking at the moment)

[gloomy gazelle]

Check this and other pins in #💰〕token #💰〕token message

[viral latch]

What happens after the staking rewards end? Will it be impossible to create any new sILV2 once everything is claimed?

[gloomy gazelle]

When the yield farming rewards end there will be revenue distributions for stakers. But revdis cannot be claimed as sILV2 so sILV2 will no longer be minted.

[viral latch]

So if we assume ~15% of staking rewards are claimed as sILV2 we will burn around 450k ILV and total ILV supply won't go any lower than approximately 9.55 million?

So sILV2 won't have a significant impact on total ILV supply

Just asking if i am missing something here. I am only doing some calculations

[gloomy gazelle]

Yes. 344,389 sILV2 has already been minted. But as you probably know, most of the yield farming rewards have already been chosen to be received as ILV.

[tulip folio]

that sounds like the exact number my math came to when I figured eventual max supply

nope little bit off
#💰〕token message

[dense fable]

Curious about one thing - if 100% of the eth income goes through the DAO to ILV stakers. Where is the income for the studio / team?

[candid kettle]

the DAO has a part of the ILV in stake too

[dense fable]

thanks. And were did it come from? The DAO = the founding team in this case?

also one more Q - the supply of sILV2 is unlimited?

[tulip folio]

as part of the tokenomics the treasury was allocated 1.5m tokens, there was also leftovers from the launchpad that went to treasury too IIRC
https://medium.com/illuvium/9-tokenomics-launchpad-and-reward-details-5894c3b356be

sILV2 only can be taken from staking yield claims. only 4m of the 10m tokens comes from staking yield. we've been getting about 17% of claimed tokens as sILV2. my projection was about 9.485m ILV max supply, so about 515k sILV2 claimed by the end of yield if the same rate of claim sticks.

[dense fable]

Thanks a lot. But the team is not the treasury holder, is it?

[tulip folio]

have you checked the link? 😉
founders were allocated tokens
team members (core contributors) are also paid with tokens
the treasury is the DAO. the treasury tokens for the DAO accrue revenue distribution, and the DAO can put forth IIPs to release funds to the studio to fund game creation

[dense fable]

I did, but did not find more info about how who is the DAO (treasury).

[tulip folio]

the DAO/treasury is effectively the ILV holders/voters, though there's a council currently that actually votes on the IIPs, and ILV holders vote on council members. so council votes on treasury allocations.

there's going to be a governance v2 that happens where they get more sub councils and such, but that's a bit off from now

[dense fable]

Ok so beside relying on voting of DAO to release funds to studio, there is no other way studio / team can benefit from the game income, is it?

Btw. I really appreciate your help @tulip folio and thanks a lot for the discussion.

[tulip folio]

team members personally are separate from the studio. they have been allocated personal tokens, including the founders (that's the "team" allocation in the tokenomics above)

correct, the studio has no way to really take money from the treasury without the DAO voting, but they are interconnected. it's all about health of the DAO, and if the studio can't pay its bills the DAO is worthless.

[dense fable]

that´s weird isn´t it? Why would studio give up on any potential income?

[gloomy gazelle]

It’s not a company. It’s a DAO and it was created to work the way that it works.

[restive turtle]

Hi guys ! Little question as I'm a bit confused with the V1 / V2 staking.
When you finished the 12 month lock on a V1 Pool, do you need to withdraw and restake to get rewards, or does it continue normally / as before ? (I did the upgrade to V2 pool btw.)
And if you want to restake, if I understood well, you have to create a new wallet ?
Sorry didn't really get smart of all the chats above 😇

[gloomy gazelle]

You do NOT need to withdraw. Unlocked tokens keep earning.

You can use your old wallet to stake new deposits. Or you could use a new wallet that would only have ever used v2 staking. It does not matter much.

[lusty pecan]

team/studio has a lot of staked tokens which will earn revdis from game income to help fund dev

[brisk surge]

just remind me again, why buy silv to buy Disks? Instead of Eth?

I'm sitting here ready to go but I'm wondering why am I buying eth when I could buy silv. Are the prices of disks quoted in terms of ILV?

[cyan rampart]

sILV2 trades at a discount to ILV's price, but is valued at ILV's price in the ecosystem. In laymans terms, it can be a discount to spend sILV2 (depending on the price of ILV of course).

[brisk surge]

but on illuvitars?

[cyan rampart]

Priced in ETH, or the equivalent price in ETH of sILV2 (at ILV's price).

Here's a basic hypothetical.
ETH is $1000
sILV2 is $50 (on secondary markets)
ILV is $100.

ETH price for thing is .1 ETH, or $100. That's only 1 sILV2, which you bought for $50.

That's the basic scenario in which it can be beneficial.

[brisk surge]

oohhh i see. awesome. So like, if I have a Silv2, it's buying power in dollar terms is the same as buying power in dollar terms of eth.

[cyan rampart]

Of course it's not without risks. sILV2's value depends on ILV's price. So if you bought sILV2 at $70 when ILV was $90, but ILV dropped to $60, you'd be stuck for $10.

[brisk surge]

got it. Apologies for having finished high school 23 years ago. My brain has decayed significantly. You know I once won a mathematics award in Year 12? Yeah. I can't even remember what it was for. My dad was angry cos I only got 99%. Yeah I like to type a lot. I have a lot of free time. So I'll buy SILV2.

[cyan rampart]

There's also no official LP for sILV2, so in theory, the liquidity to trade it could be withdrawn at any point.

[brisk surge]

I just want enough money to buy some mega disks to give as gifts to some of the boys. *Those who deserve it

[cyan rampart]

The worthy are the "bois" I'm pretty sure 😛

I'm not an english major though

[brisk surge]

Hey can you possibly answer why my ledger asked me to verify 12 transactions just to make the swap from USDC to Eth? Is that some sort of bug? I cancelled after the 12 signing. Because 12 is how long it took me to get suspicious

I asked in general but nobody answered me because they are completely desensitised to everything I write.

[cyan rampart]

That sounds like a lot. There's an approval to trade tokens, then the trade itself.

[brisk surge]

Yeah. Have I just been robbed?

[cyan rampart]

Did you check what you were approving? Even getting robbed usually only takes 1 transaction.

[brisk surge]

Of course I didn't check what I was approving. I only see the word Nonce written over and over again.

[cyan rampart]

If you were robbed, it's likely you'd know by now.

[brisk surge]

this was 5 minutes ago

can you look into my wallet and tell me wtf is happening. Because I am completely unable to think straight these days. New private thread?

@cyan rampart I've lost our thread, re mention me in it hah

[pseudo minnow]

For staking what do I have to do with slp? I got ILV in my wallet and then I don’t get it :/

[worn turtle]

!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.

[dense fable]

Gm, is there any more info about how many ILV is distributed in each of the epoch?

Based on tokenomics it´s 3M total among the epochs, but someone mentioned 4M ILV total?

Thanks a lot.

Also a few more Qs:

• what is / was the vesting period for pre-seed, seed, team tokens?
• is FUEL part of the rewards for stakers? (I believe nope right?)
• any more info about FUEL?

[burnt ether]

Hello! Are we getting RevDis from illuvitars sales?

[last hawk]

#1068378482352083006 message

[restive turtle]

Thank you so much for your precise answer 🙂 Have a good day !

[worn turtle]

https://tenor.com/view/illuvium-ilv-illuviumio-whale-yield-farm-gif-22293367

[white cradle]

has the team considered any restrictions to staking in the US like some exchanges have done recently?

[dense bear]

Being robbed from MetaMask is a touchy subject at the moment…did everything work out ok 😥

[brisk surge]

Luckily it turned out fine, with the help of Blickter. It asked me to verify 25 fields on my ledger. I thought it was really quite odd. But thankfully all was fine.

[dense bear]

👍 great to hear…the Tsg situation really made me reassess and to be vigilant and remember how smart and ruthless hackers can be.

[worn turtle]

This mainly applies to centralized exchanges providing staking as a service

Where you aren’t staking into a smart contract like you are here

And you have no idea what those centralized exchanges are doing with your tokens

You need to be staked to get rev dis and when you get them they are in the form of unlocked Ilv

[white cradle]

That is great news! thank you for clearing that up for me.

[cyan rampart]

1. Yield rewards for staking are 3M over 3 years. We're currently in Epoch 42 of 78, so we're just over halfway through yield farming. Yield rewards change every 2 week epoch - There's a 3% decrease in total rewards each epoch. This epoch, 28286 ILV is going to stakers. That's split 80/20 between the SLP pool and the ILV pool respectively, so 5657 for the ILV pool to share, and 22629 for the SLP pool to share.

2. Seed/Preseed got bumped back from the original unlock date, but their total vesting period is 12 months, and started June 30, 2022. Approximately 100k team tokens are also unlocking over a year. The upper management team tokens (approx 1.4M) are unlocking over a 3 year period.

3. Fuel is an in-game token produced by Illuvium: Zero players(within game), and by the DAO. It's the equivalent of an in-game currency to be used in the Overworld and Illuvium: Zero.

[woven ibex]

What are each type of fuel used for?

In the Illuvium Universe, there are three different types of fuel Hyperion, Solon, and Crypton. These fuels are used in the Illuvium ecosystem for various purposes, such as curing shards, crafting weapons and upgrades, and traveling to different regions. Fuel production is driven by Illuvium Zero.

In Illuvium: Overworld

• Hyperion is used to cure shards and capture Illuvials,
• Solon is used to craft weapons, armor, and other upgrades,
• Crypton is used to travel to different regions.

In Illuvium: Zero

Hyperion, Solon, and Crypton are commonly used in high-level buildings. These fuel types may be required in order to build or upgrade certain structures

[dense fable]

Thanks a lot for great answers. Really appreciate your help.

1. FUEL - if the FUEL is spent ingame, do/will ILV stakers benefit from that e.g. through RevDis rewards?
2. What is the runway for the team as I don´t see any income for the dev team, the game looks great and I believe monthly costs to run this dev must be huge.

[cyan rampart]

Fuel is sold for ETH, that ETH benefits ILV stakers and land owners alike. Land owners produce 5% of all Fuel, cumulatively. Land owners sell Fuel for ETH directly. When the DAO sells Fuel for ETH, that ETH is used to purchase ILV off the market, which is then distributed to ILV stakers.

The approximate burn rate right now is $1.3M/month, and there is $15M of USDC in the Treasury.

[dense fable]

Thanks a lot. But the treasury is managed by DAO and is currently not used for game dev is it?

[cyan rampart]

The Treasury is used by the DAO to cover the DAO's costs, including supporting game development.

[dense fable]

I see, so currently they have runway to September 2023 and what happens if the treasury runs out of money? As it is quite soon actually.

[cyan rampart]

There are a variety of options that have been identified the extend runway, should that become necessary. The most recently actioned item is diversion of revenue from the Illuvitars sale into a Safety Pool, where it can be held until we're certain of whether it's needed to cover DAO costs or can be distributed to ILV stakers.

You can see governance proposals at https://gov.illuvium.io/#/

[dense fable]

thaks a lot @cyan rampart . Is there maybe another raising round planned to extend the runway?

[cyan rampart]

It's an option. We laid out the options available to us in some council meeting notes, let me find a link for you. It's not necessarily 100% of the options, but it was all the options identified at the time.

[dense fable]

Thanks a lot. Really appreciate the answers and sorry for maybe going too much into detail. Illuvium looks great and I it looks like a good investment as well but need to make detailed research prior to that.

[cyan rampart]

Sorry, it slipped my mind. Here's the notes, obviously they are a bit old now so USDC Runway has changed from then to now. #📯〕council-chambers message

Happy to go into more detail if you're curious about anything in particular.

[median canyon]

All the brothers tokens aren’t really unlocking though. They are but we don’t touch. I don’t even claim and stake.

[gloomy gazelle]

@rancid ridge this article takes a good look at staking. #🥩〕staking message

[rancid ridge]

[dense bear]

👍

[opaque stag]

Hi admin ! I have 1 year staking expired SLP! I still have not withdrawn SLP to my wallet, but now when I check I no longer see my SLP in Dashboard or Vesting

Can you guys help me check?

[cyan rampart]

!scam DMs are scams, so be careful.

[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.

[cyan rampart]

You can check your wallet's transaction history by searching the wallet address on Etherscan. If you want help looking into that, let me know and I'll start a thread for us within this Discord. I will not DM you.

[cloud oriole]

If i staked a yr ago and lock period is over. Do I need to stake again?

In order to receive rewards?

[worn turtle]

No you continue with your weight

[cloud oriole]

Ok so no need to touch it for now?

[worn turtle]

Yup you’re good as long as you migrated back then into staking v2

[cloud oriole]

Cool. I did. Thanks 🙏

[pseudo minnow]

How long can I stake? Is there an end for rewards?

[cunning perch]

The max you can lock is 12 months, but you can leave it staked for eternity. Yield will end at the end of June 2024, but RevDis happens as long as the company makes Revenue

[pseudo minnow]

So 1x I can stake and let it staked for years and revdis will count till after June 2024 right?

[cunning perch]

RevDis will count the moment there is RevDis to be given away.

[pseudo minnow]

Alright I understand 👌

[white cradle]

i thought that after the ilv rewards were exhausted that the rewards would be given in eth for the staking pool.

[cunning perch]

Nothing will be given in ETH, not without an approved IIP.

The only thing you receive in ETH is if you sell stuff on IlluviDEX (market place) and that's P2P

[white cradle]

so the staking pool will just end and rev dis will be the only defi element on the protocol? i didn't mean that an iip had been passed. i just thought that the plan was to keep the staking pool and offer rewards in the same manner as the reward pool allowed but replace the ilv with the eth in the rewards pool. maybe i'm just mistaken

[cunning perch]

Yield will end at the end of June 2024 and afaik there aren't any plans for the Liquidity pool unless something else comes up. There will only be RevDis which is paid in ILV

[white cradle]

ok. so there won't be a way to stake your ilv anymore at all then after june 2024 on the illuvium protocol?

just rev dis from land? correct? just trying to understand it correctly.

[cunning perch]

You will always have the option to stake ILV. There won't be any Yield. You need to stake ILV to get RevDis

[cunning perch]

Land RevDis is minimal compared to the whole staking your ILV to get RevDis from the revenue the company makes

[white cradle]

so staking rewards=rev dis? now i'm confused. i thought those were separate. i feel like we are amost saying the same thing. but different. so the staking pool will continue....correct?

and the "rev dis" or staking rewards will be paid. correct? so rewards don't end. just the emmisions from the original supply of ilv...correct?

[cunning perch]

Staking rewards comprise of Yield and RevDis. Yield expires, RevDis doesn't. Single ILV Staking will continue. It wion't get Yield after end of June 2024, but will receive RevDis

[white cradle]

if rev dis is calculated into staking rewards, why is there a separate button to claim them? wouldn't they already be in the staking rewards? sorry, i was under the impression that the staking pool and rev dis were separate. i did not know that staking rewards had rev dis in them. hence the second claim button. right?

[white cradle]

i will have to read the current iip and see if there was something i misinterpreted. but i thought rev dis was strictly for land owners at the moment. so i'm completely wrong about that?

[white cradle]

do you have any links that may be helpful for me to read through the current rev dis and rewards distribution proposal?

[cunning perch]

RevDis is not Yield to be claimed from the Yield rewards. Unlike Yield, RevDis is unlocked. It is considered "reward" but is differnt than Yield Reward. I suggest going through the Mediums and WP on the website. you can find a lot of info there

[cunning perch]

RevDis goes to any ILV staker regardless of being Land Owner or not. Land Owners get a fraction of RevDIs by playing on Lands, and they can also be ILV stakers and maximize their gains

[plain hatch]

What was the big unlock day? March what?

[cunning perch]

I think it's mid of March. Idk the date exactly. It's not "the big unlock" though. It's just unlocking that continues from those who started staking and claiming their rewards a year ago

[white cradle]

i'll look some more. there's no mention of any of that in the whitepaper or staking v2 docs. i'll look on medium. thanks.

[tulip folio]

Mar 24

[plain hatch]

thank you

[junior nacelle]

Yoo guys, damn did u all see the rumors that the SEC is thinking about banning staking for US investors? How do u think that would play out for illuvium stakers?

[gloomy gazelle]

Irrelevant. It’s not talking about contractual staking.

As far as I can tell

[junior nacelle]

Ohhh ok, I didn't realize that

[gloomy gazelle]

It’s like CEX deposits. Like ftx and Celsius and Coinbase

I’d have to dig a bit deeper to know for sure.

[gloomy gazelle]

https://twitter.com/pe1ican22/status/1624594843577249793?s=46&t=TPyfM_HxCQgHoZ7zm6-Euw

pe1ican22 (@pe1ican22)

“Long live crypto”

Thanks @ogcryptoskier

This should help inform some of those in the @illuviumio community that might be wondering about the staking ban.

(FYI the author of the article is the CEO @BitcoinCom which was in $ILV seed round)

https://t.co/fG7i13B87x

Twitter · Feb 12, 2023, 2:22 AM

[white cradle]

is there another mod that con confirm what Arash was telling me earlier and possible share a link to a source for the info so i can read about it? i can't seem to find the info.

[cyan rampart]

I see you guys talked about Yield and Revdis. The two are separate, as you discussed.

Yield lasts 3 years, at which point there are no more yield emissions. Revdis is forever. Both require staking.

Was there a specific part you wanted a source for? Just something generally about yield vs. revdis?

This Medium article has some info that's out of date, but it generally describes yield and revdis. https://medium.com/illuvium/9-tokenomics-launchpad-and-reward-details-5894c3b356be

ICCP-3 was specifically about Revdis, and doesn't cover yield farming at all. The 2 are effectively separate systems, the main thing linking them is that both require ILV to be staked to be eligible.

[gloomy gazelle]

I can confirm that arash knows his stuff

[white cradle]

well, i was hoping for a breakdown of how the rewards work for rev dis and staking. i'm most curious about after the emissions of ilv are exhausted. i also thought i heard it in an interview that rev dis was for land holders. but i guess i was mistaken and it is for ilv stakers. so i was wondering if i could read about that somewhere too.

[white cradle]

didn't mean to seem like he didn't i just felt as if we were saying very similar things only a bit different. so i wanted some confirmation. that's all

[gloomy gazelle]

That makes sense. I’m reading through it and it looks like somethings didn’t click. I’ll try too

[white cradle]

i'm pretty sure my source for the rev dis missunderstanding was an interview and not a proposal. so, reading about it would help me understand better.

[gloomy gazelle]

Deraji’s article breaks down how yield farming staking rewards works. #🥩〕staking message

[white cradle]

plus i'm not rewatching 15 hours of interviews. haha

[gloomy gazelle]

Yeah that makes sense. A lot of people thought revdis and the close to 5% of revenue that the land owners will be able to get as fuel was the same thing.

[white cradle]

that is exactly what i thought. i'm sure i hear it in an interview tho. i thought rev dis was strictly for land holders. all 5%. so, i have been acting accordingly. i never knew anything changed.

[gloomy gazelle]

It’s not how it works. I’m working on an explanation.

Let’s clear up what the land owners get first. Land owners play the #🎮〕illuvium-zero game. They have buildings that can produce fuel. That fuel will be able to be minted as erc20 tokens and swapped into an automated liquidity pool for eth. When a land owner does that the DAO will also automatically mint and sell 19 fuel tokens for every fuel token that the land owner sells.

[white cradle]

well, i understand what arash was saying. so no need to do a complete breakdown. i just misunderstood where rewards went and came from i guess.

[gloomy gazelle]

this 1:19 ratio is how the about 5% of the revenue is calculated.

Ok so the DAO gets all that other eth.

[white cradle]

the rev dis being what the land produced i was not aware of either. i thought that the rev dis for land was separate then the fuel it made. how could i have missed all this? i've been reading and watching everything i could from you guys. ugh.

[gloomy gazelle]

That eth is then added to the vault and the vault has an automated process to activate the revdis contract.
I’ll share the revdis IIP that has the info on how revdis works.

[gloomy gazelle]

It’s not really even revdis. It’s just what the game would have gotten as revenue that the land owner/players get instead.

[white cradle]

ok. that makes a little more sense.

i was wondering the breakdown of where the rev dis goes, but that clears that up. its just the rev dis from the fuel sold. ok.

[gloomy gazelle]

Here’s the revdis proposal that actually created a system that has already been used. https://gov.illuvium.io/#/proposal/0xefc13db07b40b6376aaf89687d2259ed41d45b2b028ae1e191c46b204bb9b07d

What could also have been confusing is the fact that the only REVENUE that the DAO has received so far was from the land sale.

This proposal was written to determine how that revenue would be processed.

[white cradle]

yeah, i been looking at my .50 of rev dis thinking...huh. it doesn't move...lol.

[gloomy gazelle]

The proposal is just a bit of complicated math to not lose the DAO money when it swaps eth for ILV that gets distributed as revdis to eligible ILV stakers.

[white cradle]

so, my last question is-after the initial ilv supply is exhausted, will the treasury just buy back ilv to use as rev dis rewards?

nm. you just answered that lol. sorry

[gloomy gazelle]

So the 3 million yield farming rewards will run out in July 2024. But that is not revdis.

[white cradle]

i'm trying to read 3 things at once

[gloomy gazelle]

I’m glad you caught that. I got worried

[lusty pecan]

does coinbase not sell ILV? pretty sure it does but why doesnt illuvium website suggest coinbase?

[gloomy gazelle]

Yeah. Why @worn turtle why?

[worn turtle]

It was there

Is it not now

[gloomy gazelle]

It’s good to note that there are far more ILV that is eligible for revdis than just the publicly staked ILV. Pretty much all of the seed/preseed/team/treasury tokens are also eligible for revdis.

[lusty pecan]

weird for me it doest show up

[worn turtle]

Ah thanks I’ll bring up

1 spot not the other

[gloomy gazelle]

Who scrolls to the bottom anyways?

[lusty pecan]

obviously not me lol

[worn turtle]

I do hahah

But obviously don’t click on the menus

[lusty pecan]

coinbase should be on top id say as well

[worn turtle]

All the site info is so regular it’s all saved in browser

[gloomy gazelle]

I almost forgot. I gotta make a claim this weekend. Now is the time.

Dang it. 15 or less

[worn turtle]

Need moorrrrrrr

[gloomy gazelle]

I could not wait. I paid at 16 gwei.

https://tenor.com/view/ilv-goku-illuvium-spirit-bomb-gif-23251509

https://tenor.com/view/illuvium-ilv-illuviumio-yield-farming-staking-gif-22201712

So I don’t get tempted to claim sILV2 for illuvitars.

[elder dawn]

Good call.

[worn turtle]

This is my current issue

[gloomy gazelle]

I kept looking every week and was like that stack is getting pretty fat. I should claim it. But I have been so busy that last few weekends and has been to high for my taste during the week days.

[glad mountain]

When ILV is claimed, and locked for 12 months, does that ILV earn during the 12 month period?

[gloomy gazelle]

Yes. All staked ILV earns until withdrawn. That included vesting rewards.

[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.

[glad mountain]

cool

[glad coral]

Might silly question but I'm guessing you have to stake ilv to get revenue distribution and also is that separate to the apy you locked in for yourself?

[cunning perch]

APY is for Yield. RevDis is separate. It depends on how much the game makes and how long you have staked for (what weight your deposit has)

[proud osprey]

Re the question about connecting MM to a Ledger cold wallet without losing the staking weight on V2 contract. #🥩〕staking message I also would like to know if this is possible, and if so how? 🙂

[craggy field]

Do you have V2 staking contracts or V1? (Did you stake before or after march 24th 2022?)

For V1 your 1 option would be to export your seedphrase from metamask into your ledger. This way you have had the wallet on the interweb for a while so it wás hot. If it was compromised back then through someone accessing your computer and browser credential then it wouldnt make a difference. After you have exported it, however, it can be considered cold, as long as you re-install Metamask and thereby lose the Seedphrase stored on your browser.

If you have V2 stakes, then you can export them over to a new wallet through on-chain migration of assets. A mod would be able to help you with that in a private thread if you require assistance.

[pseudo minnow]

So where can I see how much ETH/ILV I need to get 1 SLP? Or how much is 1 SLP worth in the eth/ilv amount

[craggy field]

Check Zerion.

I tend to google: SLP ILV/Eth Zerion and it shows up right there 👍

[pseudo minnow]

Thanks and after staking I can convert slp back to eth/ilv?

[craggy field]

Yes you first add liquidity to the sushi LP. You gain SLP tokens to give you a percentage of the pool. You stake those SLP tokens in the Illuvium staking platform for X time.

Then, when the stake unlocks and can be withdrawn you have the option to withdraw, remove liquidity and leave with some eth and ILV tokens.

Do check out what Impermanent Loss means. You may walk away from the pool with a different amount of ILV and Eth than what you put in 👍

[pseudo minnow]

Thank u

[gloomy gazelle]

Garf is right. Let us know if you’d like a private thread setup. No one legitimate will send you a DM. Beware of scammers and their links.

[brisk surge]

Someone told me they're getting .3 ilv per day. How much you bet they have staked?

[fickle rampart]

I have 3.57 + 0.18 eth in the iLv pool … it shows up on my eth scan and in my external portfolio dashboard… BUT ITS NO WHERE TO BE FOUND IN THE ILV site …? What’s up with that

I don’t understand.. I have been looking for it for the first day I staked and put inside the pool

[gloomy gazelle]

$20,000 in SLP. Gut reaction

[brisk surge]

That seems low

[dusk monolith]

It’s the 0.76 SLP

[fickle rampart]

Shit … SLP must be more expensive then ?

[dusk monolith]

SLP is 50/50 split between ILV and ETH when you purchased it

[gloomy gazelle]

It’s the combined eth/ilv

[fickle rampart]

I see

[gloomy gazelle]

Oh yeah. It is. My gut was wrong

[fickle rampart]

Can someone explain this to me please … silv2 &ilv ?

Should I claim it a siLv2 or ilv?

[gloomy gazelle]

This image explains the difference between the two tokens.

[brisk surge]

Silv if you want illuvitars with it

[fickle rampart]

I’ll think I’ll take the ILV …. What happened to sILV 1

[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.

[gloomy gazelle]

!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.

[gloomy gazelle]

The contract was bugged.

If you have some old sILV that was from before the new sILV2 token launch you can exchange it on the illuvium website.

Actually… maybe not anymore.

[fickle rampart]

Sheesh 🙄…. Confusing. So I swap ? Then claim or claim then swap ? Or can I take the simple ILV …. I’m sorry for the stupid questions.. I’m a newbie. I’m kinda in it for the $ and might just restake… I seriously think the price will skyrocket 🚀 to $2500 ea iLuv token

I bought them for $28 ea … I don’t want to sell something so valuable with such a good past all time high