🥩〕staking

[chilly lantern]

Market conditions

Whatever

If you think eth 2.0 will be ready by then that’s wishful thinking and eip-1559 isn’t going to help either

L2 maybe

If they claimed both and added them together and then staked that would be most ideal. That what you meant @exotic igloo

[uneven laurel]

ye that part maybe can be fixed

[chilly lantern]

By bulk claim

[exotic igloo]

no

[uneven laurel]

because now they are seperate, but its like 2 sec difference

[exotic igloo]

i mean claiming all unlocked tokens at once

[chilly lantern]

Oh. SNX does that

[uneven laurel]

i think he mean you claim seperate, but they end up in same pile

[chilly lantern]

That would work too

[exotic igloo]

thats the costy option

they will try to find the less costly one

[chilly lantern]

That would be ideal

[exotic igloo]

they have enough time haha

1 year

i believe in them

[chilly lantern]

One action to claim all available tokens

[exotic igloo]

yes

[chilly lantern]

I like that

[uneven laurel]

but if ILV is 500$ in one year i wouldn't mind paying to claim 0.5

[exotic igloo]

yea

true

im not gonna withdraw anyway

https://tenor.com/view/think-about-it-use-your-brain-use-the-brain-think-brain-gif-7914082

pedro gonna fix the out of gas bug I had

he will add the extra gas limit for these scenarios, if it isn't needed, the gas is refunded

Lol that vest gonna trigger me for the rest of the year

https://tenor.com/view/sheesh-jeez-oh-gif-21587260

[ruby wing]

https://tenor.com/view/dies-of-cringe-cringe-gif-20747133

[exotic igloo]

my ocd hurts

[ruby wing]

https://tenor.com/view/sad-walk-of-shame-shame-shameful-head-down-gif-5548725

[gloomy gazelle]

Anybody bothered adding the sILV contract yet?

There are already 17 holders

[brisk surge]

Yes, everyone please claim sILV

[gloomy gazelle]

😂

[brisk surge]

I vested sushi LP and I think my single stake lp was vested as well

I did do two confirmations

hmm

[exotic igloo]

It is designed that way

[gloomy gazelle]

Yeah I was reading that the single ILV rewards must be vested before the SLP rewards can be

[exotic igloo]

Exactly

Otherwise we would not get compounding

And it would actually cost more gas

Than what it is right now

[gloomy gazelle]

Luggis already has like 1 sILV of dust

[exotic igloo]

Lol

[gloomy gazelle]

Not a bad dusting

[exotic igloo]

Whats the addy for sILV

[gloomy gazelle]

0x398aea1c9ceb7de800284bb399a15e0efe5a9ec2

I was just getting ready to add

[zinc sluice]

does sILV compound too?

[exotic igloo]

No

[gloomy gazelle]

No

[zinc sluice]

ok

[gloomy gazelle]

It’s just a rock

[zinc sluice]

gotcha

[gloomy gazelle]

I mean a lump of GOLD

[exotic igloo]

sILV contract address

0x398aea1c9ceb7de800284bb399a15e0efe5a9ec2

[gloomy gazelle]

Yeah nice find rah

[brisk surge]

Why have sILV with no game? What the hurry?

Also do we have to forego an entire claim for sILV or can we just get a little?

[gloomy gazelle]

Hmm you may have a little already.

If you were claiming your SLP rewards.

[brisk surge]

I guess we could just claim, wait a bit, then claim sILV

Why would I get sILV from LP?

I claimed ILV

[gloomy gazelle]

I think the dust is part of the 2 transaction process

It’s like maybe a single block worth of single asset staking you got turned into sILV.

Here let me link Aaron’s post

#🥩〕staking message

[brisk surge]

Oh I didn't get any sILV, guess I'm no whale

😆

[gloomy gazelle]

You might not have any sILV honestly. But Luggis.Eth has a bit already just from the dust in the short interval between the two claims.

[brisk surge]

A bit confusing about how sILV got sent out but eh

[gloomy gazelle]

https://tenor.com/view/when-you-know-you-know-wyatt-burwall-dashing-in-december-you-just-know-you-get-that-feeling-gif-19578204

[gloomy gazelle]

Have you checked your address to be sure? Because it won’t show up on the staking menu I don’t think.

[brisk surge]

I added it to mm

[gloomy gazelle]

I could be wrong though

Ok

[coral umbra]

if i claim this, will it include the above? #🥩〕staking message

[brisk surge]

So does this mean if we have both pools, we should just claim the SLP?

And it will auto claim the single stake pool?

[coral umbra]

does it claim all? in the rewards

[gloomy gazelle]

That is my understanding yes.

[brisk surge]

I'm gonna have to check my tx data.

[old nimbus]

Hey guys is there still an issue with the LP pool?

[gloomy gazelle]

But for me I’m much heavier in single asset so I won’t be claiming my SLP rewards nearly as often. But when I do it’ll be a twofer

[old nimbus]

Ran out of gas claiming it

[brisk surge]

I saw the button and pushed it, didn't realize it would claim both. Single stake reward went to zero as well

[old nimbus]

Wondering if I should try again or wait?

[gloomy gazelle]

Oof someone said something about it earlier. Not sure. Too much to read tonight. Sorry

#🥩〕staking message

[exotic igloo]

Yes

[exotic igloo]

They are fixing it

In the meantime raise your gas limit

And use fast gas

[brisk surge]

Feeling gassy. All good though can't complain.

[gloomy gazelle]

I was thinking fast would help prevent some of that sILV dust maybe.

[old nimbus]

do you know what I should set it to?

[exotic igloo]

What is it at

[brisk surge]

sILV dust is a real head scratcher. How's another token leaking

[foggy spruce]

Is it advisable to keep claiming?

[old nimbus]

167529

Thats the default gas limit.

[exotic igloo]

200 000 to 300 000 should be plenty

Let me check my transactions

How much it used

167 529 for first so it used at 100% and 219 789 for second one it used at 85%

So first one always going to succeed

Its the second one that will mostly fail

[old nimbus]

Thanks, so 220K should work

[gloomy gazelle]

My understanding is that the single asset rewards need to be empty for the SLP rewards to be able to be added at 2X. So what happens when there are rewards earned between the two transactions… sILV dust gets slammed out of the way. I don’t know though.

Check Aaron’s last post in here.

[median canyon]

Ok so it should be working now guys. As for the questions I'll try to answer them:

1. Why claim rewards in one pool when I claim in another ?

This only applies to those claiming ILV in another pool besides the ILV pool. Because those rewards get compounded in the ILV pool. If we didn't flush your rewards it wouldn't be able to calculate your total rewards.

2. Why wouldn't it be able to do that?

It can.... but it requires a much more complex function that ends up eating more gas than just auto flushing. (This was my thought too, until I saw how it worked).

3. Why was sILV being claimed when I claim ILV in another pool?

Because of the timings of the 'processrewards' function if we allowed this it would possibly lead to an infinite loop. As such the solution chosen was to claim as sILV. This choice is not ideal and shouldn't have been done that way. It was something missed by myself so that's my fault. This option is much more palatable when sILV is useful, but even then it's not the best.

4. The final fix is to just do two claims in the one button. The result is that you get better gas mileage than if you did it manually.

To those that end up with a few cents worth of sILV dust.... eventually you're going to claim some sILV and then you'll have a good amount. Please don't let your OCD destroy you. Hopefully you can sit there and count the extra compounding rewards you get and come to peace with the universe.

NOTICE We are still working on an automated way of dealing with gas. For now if you do need to claim desperately just make sure you increase the gas limit.

[exotic igloo]

Gas limit is at 260 867 and it failed once so you should crank it up to at least 280 000

[old nimbus]

Wow, lucky I was reading Aarons post and hadnt submitted yet

[brisk surge]

Mmm peace with the universe...

[exotic igloo]

Yea lol

[brisk surge]

https://c.tenor.com/bQuWIFsZWEgAAAAM/thurston-waffles-meow.gif

[exotic igloo]

Pedro fixed it

So its higher limits with refund if not used totally

[median canyon]

Lore leak. The end of the game has a theme around being at peace with the universe, or it doesn't. One of those two options.

[brisk surge]

Did you say LORE?

(I love lore)

[eager rover]

[exotic igloo]

But this

This scares me

[brisk surge]

Do not go gentle into that good night

[exotic igloo]

You know i am going to pay 8$ in gas to get rid of it in 364 days

[brisk surge]

Will there be gas in 364 days?

[exotic igloo]

I hope not

[gloomy gazelle]

A life outside of time

[exotic igloo]

Ok

Aaron updated the message

Pedro not done yet

So increase your gas limit manually in the meantime

[median canyon]

Incorrect. Once it vests you'll still be getting rewards from it with token weight 2x.

[exotic igloo]

True

[median canyon]

So you'll leave it.

[gloomy gazelle]

Should we pin his message for now?

[median canyon]

OCD but not dumb. EDIT: Well, maybe boat ---> jet dumb.

[exotic igloo]

https://tenor.com/view/sir-yes-sir-yes-sir-gif-21589754

[gloomy gazelle]

https://tenor.com/view/lock-stfu-quiet-ssh-jurassic-gif-8128460

[exotic igloo]

Hahaha love the edit

[old nimbus]

hmmm, thats odd. Upped the Gas, had transactions approved - but the rewards didnt claim

theyre still sitting there

[exotic igloo]

Refresh?

[old nimbus]

have..

[exotic igloo]

You have 2 transactions

[old nimbus]

yes - both approved.

[exotic igloo]

Is you ILV pool rewards claimed?

[old nimbus]

LP pool

oh wait..

worked now

There was a pending still...

[exotic igloo]

Ok

[old nimbus]

thanks

[exotic igloo]

Cant wait for lower gas.

Like 0.5$ transactions

[gloomy gazelle]

https://tenor.com/view/this-ukodor-fabled42-this-post-beard-gif-17164034

That’s why I was first convinced by my brother that XRP and XLM were the future. Then I found nano and told him a thing or two. But now I know differently. And he only wishes he knew how to DEFI!

[candid plover]

London hard fork is planned for July 7th. That should help quite a bit in the meantime.

[exotic igloo]

Yea it went pretty well on test net

Burn that eth baby

[candid plover]

Yeah I’m happy about that as well lol

This LP could be firing on all cylinders this next year

[primal dagger]

why does it claim some silv?

[gloomy gazelle]

#🥩〕staking message

That’s as good an answer as we got. Basically fast gas should keep the sILV to a minimum.

[primal dagger]

okay thanks, i dont quite get it but its not a big deal

[dusky rock]

I wan to see my Vesting tab in 340 day's 😄

I just hope that they will add some kind of sorting/filtering there so those with shortest duration wont be on bottom

because that would be a lot of scrolling

[median canyon]

As I said above, the issue is that the structure of the contract with compounding and reentry into the function means that we cannot claim ILV. The only other option was sILV, which allows the claim and lets everything go smoothly. It isn't ideal, we know that. But there is a way around it which is implemented now.

[median canyon]

Because of the issues that have happened, I will make sure we work hard on as many QOL fixes as we can.

[dusky rock]

Ye its all perfectly fine, release was super smooth anyway and UI looks like beast so im not worried at all

Tbh im even more excited because if someone had any doubts then this is another proof that this dev team just delivers.

[manic spindle]

Damn man, my OCD would also severely trigger me every day multiple times lol 😄

Obviously the bug with the rewards claiming is annoying but to be honest, I'm glad something went wrong. So much has been gone amazingly so far already and a few bumps every now and then only remind everyone that these are still humans working on the project and despite whatever confidence there might be, you better not get too comfortable. If you want to deliver AAA quality you gotta bring your A game constantly not just in the beginning. Personally, I'm confident the team can pull this off and this bump here will only ensure even better quality long-term.

Since they are vested for 12 months and staked in the ILV pool with a weight of 2.0 when claimed, yes. There is a compound effect.

[strong wharf]

https://etherscan.io/tx/0x9a6ef95843899af4995959d310aac02afc0409c350561308214b483090fe645c/

big boy has joined the pool

413ETH

[primal dagger]

crushed the apy 😦

[silver oasis]

S.H.E.E.T...👀

[strong wharf]

^^

[silver oasis]

What about Cha?

[manic spindle]

Several smaller or some/one bigger bag seemed to have pulled out of ILV as well (either fully or switched to ILV/ETH). LP dropped like 100% APY in the time I slept while ILV actually went up by almost 25%. Always happy to see APY pumps in the single ILV pool 😄

[silver oasis]

Did he joined?

[strong wharf]

ye but LP sushi

not the single staking

so i'm good

😄

[silver oasis]

All the big boys went for LP..Cha..luggis..but i mean it was to be expected

[strong wharf]

idd

[silver oasis]

All the big bags go in LP

[lusty brook]

When is the best time to claim a reward? EVERY 10 ILV rewards ? I have 10k$ in sushi pool

[manic spindle]

Bit more FIAT and in hindsight I'd have done the same. Payouts are good enough to counter the risk of IL in my opinion. I'm still amazingly happy with the single staking APY though.

[silver oasis]

Up to you man...whatever makes sense in terms of gas/profit to you

[manic spindle]

Yield Update Cycle remained "Fortnightly" right? So APY for 13 more days can only be affected by people joining/leaving the pools (and for the single staking pool, people claiming their rewards), correct?

[lusty brook]

Okay, thanks of course I want the best overall profit possible. I thought there were some calculations already

[manic spindle]

Global amount staked: $40,320,890. TVL in ILV: $9,526,339. TVL in ILV/ETH: $19,258,079. What am I missing that these numbers don't add up? Does the TVL for ILV/ETH only take the ILV value into account? Or is there a bug in some of the displayed numbers?

[silver oasis]

There is a calculator in here..was posted last night by @primal dagger

That might help you with your calculations

https://docs.google.com/spreadsheets/d/119F4H3qa6ow7ARwT3M_fylBpzPROj838ZLEib7DUe8k/edit?usp=sharing

There u go

[silver oasis]

Some ppl didn't lock..u got to think of that also

They are staked in flexible probably

[manic spindle]

TVL is not staked but actually staked and locked? You're sure?

I doubt that's it because for ILV the total pool value and the TVL are identical. I doubt everyone in ILV is locked.

[silver oasis]

Not sure...but might be the reason with the UI values

[mint cave]

TVL is just total value in the stake at all

regardless of lock

[manic spindle]

Yeah, that's how I'd understand that as well. And TVL and pool value fit for single staking. Why is the TVL for ILV/ETH lower than the Pool then?

[mint cave]

not all person(s) who are providing sushi LP used their tokens to stake, and also the treasury funds that initially seeded the LP pool cannot stake

[silver oasis]

U mean the Slp doesn't count or?

[mint cave]

no i mean the total liquidity of the sushi LP pool on sushiswap is ~28 mil right? and the TVL of the ILV/ETH pool is ~19 mil

that's normal, cuz we know treasury cant stake

and there are surely some LP that forgot or don't know the ILV/ETH staking exists

[silver oasis]

Oh yeah I got that part I was just wondering about people not staking the tokens

[mint cave]

yaaaa

[manic spindle]

Ah, I think I figured it out. The SNX flash pool drastically increased while I slept.

$11,604,618 SNX, $9,557,011 ILV, $19,285,890 ILV/ETH = $40,447,519. Exactly what the Global Amount Staked shows.

In that case, TVL - as I thought - means staked, not locked. Otherwise every token would have to be locked, which I doubt very very much 😄

[onyx topaz]

is there a place to see how long SLPs are locked for?

[manic spindle]

Definitively would like to know that as well, yeah 😄

[onyx topaz]

you stake yet? im trying to decide how long i wanna do

[manic spindle]

12 months, single stake was clear for me for quite a while already. Might have taken the IL risk of the LP pool in hindsight, considering the current APY but who knows how everything pans out in the long run. I'm happy where I am. Never intended to sell within a year or so anyway 😄

[onyx topaz]

yeah most rewards on yield is given on first 2/3 years

1 year seems dece

[manic spindle]

More than 12 months is also impossible to lock

If you lock for 12 months you get the full weight of 2.0. When your tokens unlock after 12 months, they remained staked AND keep the weight of 2.0 until you somehow touch them yourself.

[onyx topaz]

yeah the max locked makes sense

ooooo

so i can keep them in there for another year

or however long

[manic spindle]

Yes, but they are unlocked.

[silver oasis]

https://tenor.com/view/morpheus-believe-neo-beginning-to-believe-gif-5399492

[onyx topaz]

sounds awesome thanks

also

https://zapper.canny.io/protocol-requests/p/illuvium-staking

so they we can see our illuvium on zapper

upvote pls

[dusky rock]

I think that there is plenty ppl that didnt lock because there was no gameplay or anything beside leaks so there is still chance that someone that is not spending that much time here might be still afraid of bust

Im pretty sure that when 1st game play will be available and it will look like we hope its going to look

momentum will just change big time

[barren tusk]

That's why most of us are playing with money we can lose. That way we can go balls deep 🥩

[dusky rock]

You want to tell me that i should not take that loan in exchange for my house?

[old nimbus]

Dude it’s not July 7th. That’s rinkeby testnet only

[dusky rock]

jk ofc 😉

[old nimbus]

There’s 3 proposed dates, all in August

Earliest is aug 4 I think

8th July was only a very very early guess by the team

The actual date will likely be set at the all core Devs meeting next week

[brisk surge]

How do you all track the fees earned from your SLP after you stake it?

croco.finance doesn't show me stats anymore 😦

[ashen dust]

Hey everyone, total newb to all of this but so far everything has been amazing and enjoying the ride. Got a couple questions from the staking website. When I look at the 2 core pools they total around $30 million but there is a spot that says global amount staked is $40 million. Where is this other $10million coming from?

Other question is about weight. When I look at the details of the 2 core pools. The ilv only pool it is 18.96% and the eth/ilv pool the weight is 75.83%. Why don’t they add up to 100%?

[mint cave]

the other 10 mil is coming from the SNX flash pool
overview -> flash pools
or
staking -> flash pools

the second part is also because the flash pool has its own weight

[ashen dust]

Okay thanks

[cerulean sierra]

Finally, 1 ILV Farmed

https://tenor.com/view/lets-get-this-party-started-yeah-extremely-excited-kid-gif-15246266

[ashen dust]

Has anyone figured out how much $ilv is in circulation if you take out what is being staked?

[manic spindle]

Circulating Supply is at ~650k. We have ~$9.4m (~149k $ILV) staked in the single pool and ~$9m (~143k $ILV) staked in the ILV/ETH pool. That leaves ~358k $ILV that still could find their way into the core pools, if I'm not mistaken

[slender wasp]

410k ilv is out of circ kinda

With the kinda being lp pool

240k ilv is not in any stake ornpool

Or pool

[manic spindle]

What I don't get is....why have $ILV in the LP Pool but not staked? What am I missing here? Use the SLP somewhere else?

[final steppe]

Yeah most likely liquidity mining somewhere else

[candid plover]

Could just be people who haven’t taken it out of the sushiswap pool yet.

[final steppe]

Or... somehow they just forgot to come to ILV? 😅

[manic spindle]

More Yields than 650%? 😄

[candid plover]

Btw is claiming rewards good to go? I saw there some issues earlier on.

[drifting shell]

lfg

[glossy bridge]

insane 😍

[exotic igloo]

Being worked on

[exotic igloo]

Yes

[manic spindle]

The Global Amount Staked of ~$40.5m does include ~$9m in $ETH and ~$12m in $SNX though 🙂

[brisk surge]

I have a question, why the ILV button claim is active if prizes can only be claimed after the selected blocking period ... unless you can claim earlier and bet again?

[mint cave]

you can claim as often as you want

you gain rewards every ethereum block, which is about every 15 seconds

[exotic igloo]

Medium articles.

[mint cave]

also that's a lot of money to not know how it works LOL

[manic spindle]

I'm not sure if you misunderstood something or if I misunderstood you 🙂 Basically, rewards pile up automatically but nothing else happens. You have to manually claim them whenever you think it is enough in regards to gas costs. When claimed, your rewards get vested for 12 months and staked in the ILV pool with a weight of 2.0. More here:

https://medium.com/illuvium/9-tokenomics-launchpad-and-reward-details-5894c3b356be
https://medium.com/illuvium/28-everything-you-need-to-know-about-staking-ilv-6669594b2fac
https://medium.com/illuvium/29-governance-yield-farming-and-vault-distribution-faq-7327ae7eb507

[exotic igloo]

Thanks

[glossy bridge]

oh thx for the precision I didn't know but half of it is still huge 👍

[manic spindle]

No option to keep that from happening before posting, sorry. Gotta remove those embedded links afterwards, at least to my knowledge 😄

[exotic igloo]

Use < >

With links

[manic spindle]

You mean manually put <> around the link?

[exotic igloo]

Yes

[manic spindle]

Interesting. Will try that out next time, thanks 🙂

[vale frost]

is it okay to claim after 6 months? I'm a newbie. got no idea of vested

[manic spindle]

It depends on how many rewards you get. Only you can decide whether or not it makes sense to claim and pay the gas fees. In general though, yes, you could wait for 6 months and only claim then. Rewards do pile up. Six months from now, some part of the game should be released though, so I'm not sure if some form for in-game activity is required then to have it keep piling up.

Blog Article #9 about tokenomics in February included: "rewards have the option to be rolled over each distribution cycle, so that stakers can claim when it is appropriate for them, to avoid a high percentage of GAS fees. However, to encourage participation and activity in the game itself, the ability to roll over is tied to in-game activity. Effectively, to avoid having to make weekly claims, the linked account must be active for a minimum time period."

Maybe @median canyon can say, if that still is going to be relevant somehow.

[vale frost]

Thank you for a detailed reply, Stormi, Appreciate it much 🙂

[exotic igloo]

No longer relevant

There is no distribution cycle anymore and the rewards already pool

So you dont lose them

[slender wasp]

that 6k ilv buy tho

added to lp pool

[manic spindle]

Perfect, good to know. Didn't see the "activity part" wouldn't be enforced anymore once the game is released

[exotic igloo]

He's farming masterchef tho

So we good

[slender wasp]

jep

[manic spindle]

And that is more lucrative than the current ILV APYs? 0o

[slender wasp]

ah claimed ilv auto compounds to single asset

noice

[candid plover]

What’s Masterchef?

[dusky rock]

I this case i would check eth address on ledger 🙂

I would do it even 5 times 😂

[slender wasp]

good to see that ilv is doing good price wise

while the whole market is still shit

[candid plover]

If price holds throughout this year, we ballin. I am a little scared for the next year tho.

[manic spindle]

why?

[dusky rock]

Lock it every 12 months for 3 years and You don't need to be worried about next year

[candid plover]

Circulating supply is going to increase rapidly as tokens unlock.

But hopefully by that point we have a great game and a solid revenue stream coming in.

[manic spindle]

Market Cap should be much higher by then and seed/team tokens are not unlocked at once

[candid plover]

Yeah the marketcap will increase as the tokens unlock but the price itself will experience downward pressure

So demand has to keep up or hopefully outweigh the pressure on the price from the ilv coins unlocking and adding to the circulating supply

[manic spindle]

Market Cap in general should be higher by then considering the Yielded Supply in Circulation by then. Sure, unlocked tokens from seed/team will have an impact, but they are unlocked linearly over a period of 12 months, so there won't be some super duper impact at a specific date.

[candid plover]

No it not necessarily on a certain date but the over the course of 1 year we’re gonna go from a 700k circulating supply to several million

Beginning next spring.

[queen panther]

small bug but on my screen it says I'm accruing SLP instead of ILV

anyone else?

[candid plover]

Hasn’t happened to me yet.

[manic spindle]

3.5m were in pre-seed, seed and team, yeah. Those unlock linearly. We will also have yielded tokens (both staked and in-game) in circulation by then though. Not saying the additional unlocked tokens won't impact the market, but personally I'm not outright "scared" 🙂 I see enough layers to protect the longevity of the project.

[mint cave]

you rich now

[candid plover]

Yeah accruing slp would be awesome lol

[candid plover]

Yeah I don’t know what will happen. It depends on where the game is at by then but it’s something to be aware of.

[manic spindle]

Definitively. That's why some people only locked for so long that their unlocking happens right before the team/seed unlocks. It is a valid strategy if you're worried, just to have the flexibility to react on the market at that time

Personally, I'm here for the long run. To me, we're just getting started when all the seed/team tokens have unlocked already

[candid plover]

I actually locked for 50 weeks instead of 52. I would have done week 40 or so to account for that but having the multiplier higher for 50 weeks should make up for that. It also puts me a couple weeks ahead of all the people that locked for 52 so I can atleast front run them if shit is looking grim lol

So my multiplier is about 1.98

[manic spindle]

Yeah, I considered that too but then just went with "Nah, if things look grim then, I'll just HODL even harder" 😄

[candid plover]

Yeah I’m a pussy so I had to hedge the bet a bit lol

[exotic igloo]

Sushi rewards

@queen panther show me in dm

[hexed bough]

This will be fixed shortly, sorry about this

[ashen dust]

I see the snx flash pool has $12 million in it. Why would any invest there when the core pools give much better apy? Is that the only way seed investors can stake is in flash pools? Just trying to make sense of it and figure out peoples strategy for the flash pool.

[exotic igloo]

People use their SNX tokens to farm ILV

[queen panther]

Fixed! thank you

[exotic igloo]

They dont want to sell their SNX like you dont want to sell your ILV

[queen panther]

10000000% APY

XD

[turbid scroll]

is there a way to reject the claiming of ilv rewards from the ilv only pool and only collect the slp rewards?

[dusky rock]

If You have Ledger X can You connect it to metamask on iOS? Or is there any chance to connect Leger to metamask on iOS to be able to use mobile version of Illuvium staking?

[exotic igloo]

No.

[turbid scroll]

ok thanks

[exotic igloo]

Probably

Never tried

[dusky rock]

U have nano x?

Also when You start getting rewards based on Your withdrawn rewards? They are set at 2.0 weight?

[drifting shell]

i very much am

[exotic igloo]

yes

[dusky rock]

Ye but when they are added to the stake pool? Right after u withdrawn or after 12 months? I started to read questions here and I got confused and I was sure I knew how it works lol

[exotic igloo]

When you claim

[dusky rock]

Ye this is what I thought because other wise that 2.0 weight would have 0 sense

That's why I was confused why even ppl started to ask about that

😄

[brisk surge]

Is it possible to claim part sILV and part ILV for rewards? Or is it a case of claiming one, then waiting for the rewards to accumulate again

[silver oasis]

The latter

[cyan raven]

I tried to stake in a core pool last night and it got approved, but still just shows ILV in my balance instead of staked

[exotic igloo]

Cause you only approved

You have to stake

Its 2 transactions the first time

Maybe @hexed bough was right after all...

[dusky rock]

This is exactly what Ivanontech said in his last video 🙂 That banks will exist because of such stuff so ppl will be able to had middle man that will do all of that for them 🙂

[cyan raven]

cool i'm staking now, thank you

[gloomy gazelle]

#🥩〕staking message #🥩〕staking message @cerulean sierra this is what I was talking about

@cunning perch have you seen these ☝️

The other thing to consider is if you are claiming from SLP or ILV only.

[cunning perch]

Ah I just saw it. Donno how to operate it. I am only in Single pool

[gloomy gazelle]

So you put in the current rate and price. And then the USD value of your staked amount. And the usd cost of the gas you will pay. Then it tells you how many hours to wait between claiming

[cunning perch]

hmmm. I should request access?

[gloomy gazelle]

No sorry. Make a copy

Under file in menu bar I think

[cunning perch]

lemme check

[cerulean sierra]

some strange formulas going on there

[gloomy gazelle]

Right?!?

[cunning perch]

yeah it's right. so what if I have no SLP. I should put 0?

[gloomy gazelle]

Also 1 ilv is gonna earn something like $3-$4 in a week at the current rate so… if it’s gonna get staked for 52 weeks (and it will) you’ll earn your gas back in the long run.

[cunning perch]

hmmm. nice. so I put everything and since i have no SLP I should put 0. also how do I know how much is the gas in $?

[cerulean sierra]

where is that 8760 come from

[gloomy gazelle]

There are two spreadsheets. One for ILV only the other for SLP.

[gloomy gazelle]

My MetaMask tells me when I prepare the transaction.

[cunning perch]

lemme check 😄

I know I just thought there is a way to know

[gloomy gazelle]

6gwei gas cost me around $2. So…

The other thing is it’ll cost to transfer the rewards at the end of unlocking as well. So the gas cost should go in as double.

Though the team is working on creating a claim all unlocked rewards function. And not only in separate unlock time batches.

[cunning perch]

so I did everything. It says in 27 hours I should claim

[cerulean sierra]

probably each 27 hours

[cunning perch]

with the current gas of course which was $10

so from now on....It means like tomorrow the same time somehow

It's quite the same. by tomorrow the same time I'll have between 5-6 ILV to claim

[cerulean sierra]

yeah, it's been 27 hours since launch, so it should be profitable for you already

you are going fast 🙂

[cunning perch]

ok I'll do it then 😄 I'll claim my 4 and stake my 10 left in my wallet

[cunning perch]

come on 4 is not fast at all 😄

[cerulean sierra]

4 times faster then me :D, that a lot for me lol, I know some are earning 20 each day or so

[cunning perch]

well yeah If I had join LP I would have got the same. but don't have a stomach for IL 😄

[cerulean sierra]

haha, each his thing

[cunning perch]

yep. I like it slow and steady. plus 300 APY is still a lot

[cerulean sierra]

yes it is, but i guess it will go down quickly

but everything we earn is good

you basically got 4 possible 10000 dollar tokens 😄

[cunning perch]

Haha. I hope so. Even if the price stays the same forever and I get only 1 per week, I can retire in Turkey 😁

[manic spindle]

We just had a huge jump in ILV APY again. Was down to 300% already, then 329% and now 325%.

[chilly lantern]

How long does staking last?

Rewards

[cunning perch]

Crazy right? I'm claiming 4 now.

Adding 10 after that

[cunning perch]

All tokens will be responsible leased in 3 years

[manic spindle]

I would still like to consolidate my portfolio a bit and pull out of XYZ for example. The Flash pool will most likely have worse APY for sure but a) XYZ token price is soo low right now and b) the flash pool is supposed to have a unique XYZ emote that can be farmed as well.

Not sure if that's worth pulling out now then for maybe 7 $ILV on top

XYZ DAO pool does after all also at least over 200%

[cunning perch]

Yeah. If I had extra funds Inmighy have put in XYZ since it's down and APY is high. But still, ILV will do better so I just staked 14 now and will probably think about XYZ in the bear market 😂

[brisk surge]

anyone else having a problem loading the page?

[quick bridge]

works on my machine, mobile too

[brisk surge]

oh

when I go to console it says

[quick bridge]

tried a force refresh or another browser?

interesting, in my dev console I see this:
========= NOTICE =========
formatter.ts:507 Request-Rate Exceeded (this message will not be repeated)
formatter.ts:508
formatter.ts:509 The default API keys for each service are provided as a highly-throttled,
formatter.ts:510 community resource for low-traffic projects and early prototyping.
formatter.ts:511
formatter.ts:512 While your application will continue to function, we highly recommended
formatter.ts:513 signing up for your own API keys to improve performance, increase your
formatter.ts:514 request rate/limit and enable other perks, such as metrics and advanced APIs.

and one of the ajax requests returned this response:
"{"status":"0","message":"NOTOK","result":"Max rate limit reached"}"

guessing the console warning is coming from etherscan

[cunning perch]

Nope. I just staked some ILV. It worked fine

[quick bridge]

to be clear, everything works fine for me. just seeing some warnings/debug from etherscan

[brisk surge]

I tried another browser the only way it works is when I toggle device toolbar

[cunning perch]

That's weird. It worked with Chrome perfectly. I claimed and staked some minutes ago

[primal dagger]

apologies guys, found some bugs in the calculators, fixed them now and should be pretty accurate.

There are two separate calculators

ILV only: https://docs.google.com/spreadsheets/d/119F4H3qa6ow7ARwT3M_fylBpzPROj838ZLEib7DUe8k/edit?usp=sharing

SUSHI only:
https://docs.google.com/spreadsheets/d/1O4NdadTQocRKAc3U9QwmRkHVgc6NzLGZs0f5YuWH4u0/edit?usp=sharing

to use them you need to make a copy of the document and then enter all the details (ilv pool rate, sushi pool rate, price of ilv, est tx cost. Then it will work it out for you, unfortunately we need these calculators as there isnt any one fits all method ie. claiming every 10 ilv because it matters a lot how long it takes you to earn 10 ilv.

@exotic igloo @cobalt ridge

[quick bridge]

thank you for putting those together!

can we get a mod to pin the link to the spreadsheets to this channel?

[brisk surge]

it works on my phone

or like anything that is under a certain resolution

anything more and I get this error

[hexed bough]

Thanks for reporting the issue Tony. We're taking a look.

[exotic igloo]

I was gonna ping you haha

[brisk surge]

sounds good

[dusky rock]

Thanks, so if u have over 20k u pretty much need to claim every few hours? or i use it wrong? 😛

[primal dagger]

20k is every 8 hours or so

[manic spindle]

Does the current token price matter though? Since rewards are locked for 12 months anyway, wouldn't it make sense then to put as $ILV value whatever one expects it to be at the time of unlocking?

[primal dagger]

yeah its better to put an estimated ilv price in 12 months actually

but price is important cause its relative to tx fees

[drifting shell]

Even then

If your ILV value > gas

It makes sense to claim

[manic spindle]

300% APY, $30.000 in the pool, $30 taxes for some wiggle room and a conservative $500 token value in 12 months puts me at every 3.2 hours. That's a lot of gas upfront every day if I'd do that 😄

[primal dagger]

this is better than not claiming ever, but not optimal. calculator is for optimal claiming

[drifting shell]

Hmm

[brisk surge]

Yeah, I'm personally gonna do once per week just because of the upfront gas fees needed, defo not optimal but should still be decent

[drifting shell]

Does the SUSHI calc sheet use the weightings?

[primal dagger]

you put in your apy

all rewards are 2x weight

for ilv only sheet you can put in your weight

[manic spindle]

If you put an estimated token value in 12 months though, you kinda also need to put an estimated APY average for those 12 months instead of the current APY. Because whatever you claim now, it certainly isn't going to yield farm for you at an APY over 300% for the next 12 months.

[brisk surge]

How long do you guys reckon we'll stay above 100% apy

[primal dagger]

not quite true stormi, you only need rewards to stay as calculated until your next claim

basically its working out how much $ you get from claiming after X hours, and assuming you claim that same X hours later next time, will the extra you get for compounding cover the gas cost

if it does its worth doing, if not you should wait

[manic spindle]

Ah okay, haven't checked the calculation in details. If it's only about estimating the value between two claims, then yeah, current APY is fine. I'd probably have created something completely different (possibly much worse :D))

[primal dagger]

yeah im bad at explaining it, but thats my best attempt

if you think price is gonna fall or rise then current apy isnt accurate either and calcs get more complicated

cause also the value of your stake changes

[manic spindle]

Considering a lot of the current supply is staked already and the APY for single staking keeps hovering above 300% I'd be surprised to see anything with 1xx anytime soon. Overall yield only drops with 3% every two weeks and even with all claimed rewards being staked in the ILV pool, I cannot see it suddenly drop two digit APYs a day just by that. Question is, are there any new whales coming in / swapping from LP or something like that.

[gloomy gazelle]

One thing I was thinking about was that APY is probably gonna degrade by like 3% every two weeks. Because the number of tokens being distributed is dropping by that amount.

[exotic igloo]

Joe is big brain

[gloomy gazelle]

Likely more with the larger number of ILV in the pool

[candid plover]

He’s on it.

[manic spindle]

Yeah. I might have gone the route of calculating if the rewards you want to claim at a given time will (based upon the estimated value in 12 months and the average APY over 12 months) yield you more value than the gas you would pay at that time. This would only give an idea about whether or not claiming "now" is going to net you a profit over 12 months though. It doesn't take efficiency into account, meaning that claiming even earlier or later could still be overall better.

[primal dagger]

Yeah that's the problem, with a big account you'd be claiming every minute, which is impossible and also not optimal

But still better than never claiming

With my calc even the biggest accounts shouldn't claim more that 1 per hour

[manic spindle]

Makes sense, yeah. 👍

[primal dagger]

Curious how often luggis is claiming, I'll have to check later

[manic spindle]

Every minute? 😄

Btw, do I read this thing here right that someone with 27.000k $ILV is sitting on them instead of having them staked somewhere? https://etherscan.io/token/0x767fe9edc9e0df98e07454847909b5e959d7ca0e#balances

[primal dagger]

Prob once or twice a day, whales never optimize

Yeah I think that account is related to the team somehow

It didn't buy tokens iirc

[exotic igloo]

Not often

You see his name

[eager rover]

Is it possible to have a function to convert vestedILV to sILV ? I think majority is currently vested ILV but may want to change their mind on release

Just off discussion from @frank spruce in #795846467084484619

[primal dagger]

There will be a market for it closer to the time, so you'll be able to buy at a discount to ilv price (from me if noone else)

So I don't think being able to convert locked ilv to silv is that important

[drifting shell]

Just imagine a whale who is optimal in their ways

Not just ILV, but in general

[primal dagger]

It's basically impossible to harvest optimally, just gotta find what works with life balance

I guess once you have heaps of $ you don't care so much too

[eager rover]

You can’t do anything with vested ILV atm

[eager rover]

Disagree majority of the emissions is in the first months

[primal dagger]

Idk, I've got a problem letting people earn rewards on their ilv and then convert them to silv

[manic spindle]

Sell the ILV for ETH and pay this way in-game. Always a possibility then 🙂

[eager rover]

Sure they earned some rewards but in the end it got burned

[ruby wing]

Why do you think its an issue?

[eager rover]

Possible in a year from now, but fomo is at release

[manic spindle]

Yeah, but you could always start claiming some of your rewards as sILV closer to release while claiming ILV for now for more compound effect

Staking continues way longer than what we're waiting for in regards to release. Not gonna be a problem to just claim sILV whenever needed then 🙂

[ruby wing]

Thats my plan, it makes sense If you plan on playing the game imo

[winter acorn]

🤔 very good plan

[primal dagger]

Yeah it's a pretty big change to the staking economics and maybe technically too, but if you want it changed I guess make a well thought out proposal about how it's best for the project

[eager rover]

Idk if it’s possible either way

[primal dagger]

Yeah idk either

[eager rover]

@median canyon @midnight geyser

[manic spindle]

I still wouldn't understand why it would make sense to have them spend time on this kind of task.

[ruby wing]

Just optionality I guess

[eager rover]

From the perspective of a ILV holder the ability to convert and burn as much as possible ILV to sILV is a positive thing in my mind

[ruby wing]

100% agree

[manic spindle]

Where is the difference between claiming ILV and then converting to sILV when needed compared to claiming ILV until sILV is needed where you then claim sILV?

If you don't want to miss out on any possible yield farm by claiming sILV now - which is understandable - then just don't claim anything but ILV until you actually need sILV and then claim sILV to use right away. The only way I can see where this doesn't fit the exact same purpose is if you only have a tiny amount of yield in general and thus couldn't supply yourself with enough sILV when the time comes where you need it.

But for that kind of edge case, is it really the right approach to have the team spend time on a scenario only meant to give even more yield compared to make a better game? Not sure 🤔

[primal dagger]

Agree with all of that

If it's possible, it's a debate whether it should be allowed and likely only affects very small stakers who can simply wait and claim silv if that's what they want to do

[eager rover]

The way I see it is that on release ppl will release they need more of x shards or x amount to travel. So they will end up using more sILV than expected

Doesn’t matter how much money the person started /farmed

[primal dagger]

They will be able to buy it or use eth

[silver oasis]

👀

f that lol

i need alarms on

it used to be a lot higher before haha..what was wrong with it @primal dagger

[primal dagger]

Idk it was reacting to changes in an unintuitive way

Specifically when the apy on ilv pool is lower it should claim less frequently, but was claiming more frequently

Just reversed that

[misty karma]

lol I'm so dumb

I was using the first one because I was like I have ILV what do I care about Sushi

then realized what that meant

lol....

[silver oasis]

ok i see

[misty karma]

I've been claiming horribly incorrectly lol

[primal dagger]

Ha the good news is it doesn't matter that much

Unless you are luggis

[silver oasis]

so hmm ..before i had like every 17h claim..now every 5.5h?

[misty karma]

I know but I'm a min-maxxer 😄 Thanks for putting that together appreciate it

[silver oasis]

with apy roughly the same at this time yesterday

[primal dagger]

Yeah sorry

[silver oasis]

nah it's all good ..i'm not having a go at you..just trying to understand it

tbh most likely i won't be able to do it every 6h anyway lol

still gotta work and all that ..unless i link my ledger to my phone

but i'd have to take it with me and that's a no no

[primal dagger]

Yeah would be great if you could queue up tx with time delays

[silver oasis]

now that would be the compound heaven haha

[primal dagger]

Could make a bunch of tx with low gas cost then use some 3rd party to boost the tx

[silver oasis]

i guess that can work for some1 who's time is fully dedicated to crypto ..unfortunately i'm not at that stage yet

or fortunately ...i reckon there's 2 sides to the same blade in the end

[primal dagger]

Ha

[silver oasis]

i do have 1 question about your calc tho..when we imput the $ amount that u have in the pool..do we have to use the original amount everytime..or the current amount displayed in the staking page?

i would think the current amount would make more sense

[primal dagger]

Current

[silver oasis]

thought so 👍

[dusky rock]

That would make scrolling thru all those Vesting 3 times longer XD

[silver oasis]

i would be scrolling my fortune 3 times faster also..so i don't mind 😅

[dusky rock]

😄

[ruby wing]

Just paid 5 Gwei to claim

Lets gooooo

[gloomy gazelle]

yeah it's a good time to vest

[ruby wing]

Im so happy

ILV pumpin and low gas

what a good combo

[gloomy gazelle]

I can't think of any value in using fast gas when vesting your ILV only rewards... for SLP rewards yes it makes sense to use fast gas

[ruby wing]

Facts

Fast Gas was 5 Gwei when I did it lol

[gloomy gazelle]

just in time

[ruby wing]

Absolute insanity

[silver oasis]

would be better combo if i had spare fiat 🥺

[ruby wing]

Damn haha

[silver oasis]

i still love my compound ..but but...

https://tenor.com/view/spongebob-patrick-patrick-star-broke-poor-gif-14729256

[gloomy gazelle]

#🥩〕staking message It looks like the issue of people getting a tiny bit of sILV instead of just the ILV when they were claiming, it may be resolved now. #🥩〕staking message

[quick bridge]

which reminds me, would anyone else find it useful to have a sum of the amounts on the vesting page? was thinking about making a feature request

[dusky rock]

I think its pointless

This is nothing else then ILV amount u can see in Dashboard

Vesting is needed and sadly it needs to be in such format since every claim is different time when it gets unlocked so there is no way around

they can just add some filtering for it to make it easier to follow

[quick bridge]

I have no problem with the length and entries on the vesting page. Just thinking it would be interesting to show a sum total of the ILV you've earned via rewards, the dashboard only shows you total ILV (deposits + rewards)

[dusky rock]

Ah this is what You meant, Ye it would be pretty interesting

[primal dagger]

i think unless you claim the rewards for the ILV only pool first, it HAS to turn the ILV only pool rewards into sILV when you claim the sushi LP

i cant understand why that is the case, but im sure the team knows what they are talking about

[gloomy gazelle]

But now it’ll do both transactions one after the other when you claim the SLP reward. So if you want to minimize sILV dust I think the faster gas will make it process the consecutive claims faster. I don’t know. I haven’t claimed my tiny SLP rewards yet.

[primal dagger]

^^ this, so you do 2 tx together to claim no sILV

or you dont care about dust and can do just 1

via contract

[main herald]

So i have 0.3 in IllPool and 0.4 in LP Pool. i just claim the sushi pool and it claims both?

[uneven laurel]

yes, but its two TXs

[main herald]

ok and no more sILV?

[uneven laurel]

i didn't get sILV, but was told to use fast gas

[main herald]

okay thanks. gonna try. spreadsheet says i should claim every 10 hours -.-

[primal dagger]

The tx just need to be next to each other to not get silv

Err you should have more than that to claim I think?

[uneven laurel]

i don't think you have enough to make it worth yet, could be wrong

[primal dagger]

I'd be surprised if it says claim 0.5 every 10 hours

[main herald]

its with a gas price of 5$

10$ gas i claim 14-15hours...

[uneven laurel]

are you looking the one that is based on having 35k in the LP?

you have to adjust the numbers for your case

[main herald]

i did 😄

i only have 2,8k in LP and 4,3k in ILV

[uneven laurel]

with current numbers i get 18 hours for your case

[main herald]

ah apy changed

or i have the old version of the calc?

[uneven laurel]

idk i might be wrong

im just doing once a day

[main herald]

yeah im thinking of the same

[barren tusk]

My dude, I've been slowly converting stocks into ILV all year lmao

Catching the dumps

The real purpose of diversification lmao

[gloomy gazelle]

I did some math. So based on the slow reduction of the amount of ILV being distributed it looked like the 12month averaged APY from ILV staked in that moment would be around .7 of whatever the current APY is. Of course that’s missing a bunch of other factors that will likely more greatly effect the APY too.

[median canyon]

The only variable that isn't fixed the the percentage of the total tokens staked in the protocol. After that it's a simple geometric progression. If you assume some fixed percentage you can calculated it for any time period near instantly.

[gloomy gazelle]

I feel like the percentage of tokens stake will be increasing. I mean Most will be vesting eventually and as more get put into the ILV only pool that one is gonna be a heavy pool.

[median canyon]

You only need to assume the starting percentage. After that the rewards are all locked for 12 months.

I guess also sILV production is another thing you'd need to work out. But I think in the end it's fairly straightforward.

[gloomy gazelle]

I think the staked percentage will increase as the staking continues But likely less than 10% increase so not terribly significant

So is it really only like 57% of the available supply is staked right now?

[exotic igloo]

Hum

More?

[gloomy gazelle]

it's 2 & 3 on here right?

https://etherscan.io/token/0x767fe9edc9e0df98e07454847909b5e959d7ca0e#balances

[coral jackal]

After I claim my rewards from the sushi pool, I can then go and add those rewards ilv to the sushi pool and stake the new sushi right?

[gloomy gazelle]

is 4 the XYZ staking? or am I all kinds of confused

[coral jackal]

Or does it only make sense to go 1 sided with rewards ilv?

[gloomy gazelle]

no. The SLP ILV rewards when claimed are auto-locked in the ILV only pool at 2x since it's locked for 12 months

one transaction claims and stakes your rewards

[coral jackal]

Ah. Ok. So it happens automatically then.

I’m in process now waiting on gas 🙂

[gloomy gazelle]

yeah. once you do the claim transation

[coral jackal]

Cool. Cool.

[gloomy gazelle]

FYI it will also claim your ILV only rewards in another transaction... it's this whole weird thing

check the pins in here

aaron talks about it

[coral jackal]

Roger that. Thanks.

[gloomy gazelle]

mmm eventually I'll add in the VC tokens unlocking and adding to available token supply too.

[exotic igloo]

https://tenor.com/view/f5-gif-20024701

[rotund sentinel]

Anyone else getting the issue again where you claim from SLP pool, pay for 2 tx, and then get sILV the core pool instead of ILV? I did it around 9pm last night and had the issue again

[mint cave]

i got some miniscule amount of sILV, which is normal it seems

[exotic igloo]

You got all in sILV or only dust?

[eager rover]

i dont have that issue

[dusky rock]

And suddenly Illuvium dev team and Joe made Ledger's key strap very useful thing if u need to claim every 5h

Improving not only own products xD

[rotund sentinel]

Mine gave me all in sILV

I'll try again now

Yep it's happened again

Claimed my ILV from SLP successfully but then all ILV in core pool turned to sILV

[dusky rock]

Ok I have question about those 2 spreadsheet's

Because strange thing is that lets say i have 30k and i should claim around every 5h

this way im adding around 2 ilv every 5h

but when i fill up sushi spreadsheet and lets say i have 3k in there

it tells me to claim every 8 hour and that would be just around 0.3 ilv

So i think that there might be sth wrong with 2nd spreadsheet

or maybe its just not made for shrimps

😄

[mint cave]

so i tested the claiming SLP thing 3 times now, this is how it works

i even tried to fuck with it a bit

mind you this could be exclusive to people who are staked in both***

i claim, it gives you the 2 transaction pop up.

the first one claims your single pool ILV rewards.

the second claims your SLP rewards AND whatever rewards you've accrued in the single LP pool SINCE your first txn (hence the sILV dust)

if for whatever reason there is a long time between your first and second transactions, you will get a lot more sILV

i submit 2 transactions but gamed it so that my wallet ran out of gas for the 2nd transaction so it hung for as long as i wanted it to

then i fed that wallet a little ETH to push the transaction through about 2 hours later

and it claimed ALL the single ILV reward between the first transaction and then as sILV

tl;dr - don't let your 2nd transaction take a long time if you don't want sILV

alternatively, never let that 2nd transaction happen before the first one

[rotund sentinel]

Aah interesting! For me the time between both tx was around 10-20 seconds, but it still claimed all of my core pool ILV as sILV 🤔

do you think if i sent both tx through as 'fast' it would claim it as ILV?

its happened 3 times now and im pretty sure for at least one of the claims ive used fast gas

[mint cave]

not sure, i used fast and the game gas for each 2 claims now and it worked correctly (no sILV other than dust)

could it be something strange happening if you submit both transactions and they are both processed in the same block?

i don't see how it could give you sILV if the first transaction is approved at least 1 block BEFORE the 2nd right? cuz the first txn claims all your single pool ILV

next time i'd fast gas the first transaction and wait til it confirms, then fast gas the 2nd one

[manic spindle]

When you see people selling bags of hundreds of $ILV right now and you just want more FIAT to buy them and STAKE!

https://tenor.com/view/sad-baby-frown-cry-tantrums-gif-4649018

[rotund sentinel]

@median canyon Hey Aaron, would it be possible to get a bit more colour on this sILV reward claiming issue if possible please?

[open anchor]

yeah

When claiming rewards from Sushi LP it now makes you claim your Single pool ILV rewards, but the ILV rewards get rewarded in sILV not ILV, why is that? We should be able to claim regular ILV rewards not sILV no?

Or go back to being able to simply just claim Sushi LP rewards only, not together with single pool ILV rewards

[vapid parrot]

I managed to buy some ILV with Enjin wallet using 1inch dapp, the coins now are showing up on my account. However when I am importing my account into Metamask (in order to stake it), it's not showing any coins because the import is not working with Legacy Wallets. I also can't access the staking feature with Enjin wallet because it's not supporting the "walletconnect" protocol. So my journey continues, with more obstacles than ideal for a non tech savvy user. Anyway, I contacted Enjin support and see what they say. My hope is to be a staker by the evening. 🤞

[strong wharf]

yes me too pls @brisk surge

[brisk surge]

hey, not everything is clear to me ... stacking ilv / eth. I blocked it for 52 weeks. - a prize is added nonstop, if I understand correctly,

1. that if I claim a perk after unlocking the pool, it will be available at the same time after unlocking?
2. if I receive an ILV award, e.g. once a day, this award is automatically placed again for 52 weeks in the ILV pool?
   3.I understand that re-staking increases the rate of return on investment, but at the same time blocks ILV for the next 52 weeks ... so this process can be continuous ... each receipt of the prize before the blocking period expires - blocks it for 52 weeks

[manic spindle]

My type of whale! Somewhere in the future, I'm gonna be THAT guy for a new game 😄

[brisk surge]

you can only lock 1 year right?

2 years would be insane lol

[manic spindle]

Yeah, 12 months max lock.

Weight of 2.0 will continue after that even when tokens are unlocked (as long as they stay untouched)

[slender wasp]

howd you know?

how do u know?

can u see the lock in the tx?

how?

for example this dude who is buying a lot

where is the lock time?

the lp tx this is

where do u see the stakign tx then?

where ? couldnt u find it based on the tx i sended?

under what tab on etherscan is the staking tx then?

0x22a197b1029523e2b4213ADFe762193182eC9757

i doubht u can see the lock time on the staked lp tokens

anyway he is buying so im happy 😛

[brisk surge]

https://etherscan.io/tx/0x73d7f68f3892fa1a39a074c3ef124fffb441a2b58b8ed2aa93c39031bcbec055 - no lock on this one for example but staking as LP

[slender wasp]

and where do u see the lock time then?

[brisk surge]

click to see more

[slender wasp]

and _lockUntil is the lock time?

[coral umbra]

decoded the input data but how to read lock time data?

[vapid parrot]

Is there a guide somewhere explaining what is the difference between ILV and Sushi LP staking?

[ionic sigil]

#📣〕announcements

[round elk]

None of the pool pages or vesting page is loading for me

Everything is like this

Started happening last night. This is on firefox

[hot moat]

brave was working fine for me today

[hexed bough]

Make sure you're connected to ETH mainnet network

[round elk]

I am

I am going to try Chrome

Chrome works fine...weird, Ok maybe exit and re-open FF

yeah that did it. Weird

[brisk surge]

in my opinion, at the moment the difference is APY,

1. stacking ILv - you only need to have ILV
2. ILV / ETH stacking, first you need to have ILV and ETH in your wallet, then a 50/50 ratio of about ... "produce" a liquidity token and then stack it.

in the latter case, the gas charges are slightly higher ... more operations, and you pay for each operation

[vapid parrot]

Thanks @brisk surge & @ionic sigil , I went with option 1

[exotic igloo]

You have to add your tokens manually with their contract address. You can find these on coingeko

[brisk surge]

@hexed bough Hey any chance you can make a way to only claim either SUSHI LP or ILV rewards? Instead of it being both cause I barely have any in just ILV but it still makes me pay for it when I only want to claim the SUSHI LP ones.

[gloomy gazelle]

It’s a contract thing and not a UI thing.

[gloomy gazelle]

#🥩〕staking message

[brisk surge]

@gloomy gazelle oh okay so you could reject the first and then the second should be SUSHI LP?

[exotic igloo]

No

You cannot

[gloomy gazelle]

Mmm sounds risky

[exotic igloo]

Your ILV pool reward need to be emptied to add to your stake.

This is the price we pay for compounding

[brisk surge]

oh okay

yea one transaction failed and that was like money lost in gas but it's all good

[exotic igloo]

If they didnt do it, it would cost way more gas to compound manually

[brisk surge]

oh okay

[exotic igloo]

Its the cheapest solution

Fast gas always when dealing with SLP

So wait for it to be low

[brisk surge]

will do

[gloomy gazelle]

https://tenor.com/view/lizard-worm-gotta-go-fast-fast-eat-gif-3563529

[drifting shell]

Another Day, More ILV

[balmy oriole]

What’s that about? Less gas fees?

[candid plover]

Yeah but i was wrong. It’s planned for end of July or early august actually

[balmy oriole]

Hey what’s the difference between flexible and locked after you decide to withdraw … I understand that you can do locked for a year and flexible you can take out at any time? and say I did flexible stake… will that reward be claimable instantly or do you still have to wait a year ??

[mint cave]

all rewards are locked for a year, regardless of the duration of your lock

[balmy oriole]

Do you lose your rewards after withdrawing your stake say like 3 months in with the flexible stake option?

[mint cave]

no you will never lose your rewards

what you earn is yours

[balmy oriole]

This is all making more sense now thanks to everyone who’s helping answer my questions ….. wait I just thought of another question haha.

[balmy oriole]

Say I’m earning sILV .. Can I take that sILV and re-stake via LOCK option to further capitalize on that reward ?

[mint cave]

no you cannot earn rewards with sILV, only ILV

[balmy oriole]

One sec , then what’s this mean? Hold on ima grab a screen shot

Oh never mind thats the SUSHI LIQUIDITY POOL I was observing not the sILV

human error

Is this what they mean by staking in the sushi liquidity pool via sushi swap??

[dusky rock]

Yes, if u add to LP then u will get SLP token

You can even add it to metamask to see it

and then You stake those at Illuvium page

[onyx flower]

Dont do that without understanding impermenant loss, single stake avoids this

Looks like im an hour late, but if you already aped, still worth researching IL for LP

[balmy oriole]

I haven’t yet do you have a link you recommend??

[manic spindle]

https://academy.binance.com/en/articles/impermanent-loss-explained

[candid kettle]

Hey guys, I have a doubt, if I claim the ILV/ETH LP taking ILV out will it take the ILV from the ILV only pool too?

[uneven laurel]

are you talking about claiming rewards or withdrawing your LP?

[candid kettle]

rewards

[uneven laurel]

if you claim LP rewards you claim ILV only as well in 2 TX s

no way around it

[candid kettle]

Right, thanks

[gloomy gazelle]

Fast gas is recommended so you don’t end up getting sILV you probably don’t want…yet

[candid kettle]

ok

[balmy oriole]

What’s fast gas??

[ruby wing]

See on the top right of your screen

theres Gas Tracker

[balmy oriole]

I don’t see it

[ruby wing]

Its the amount of Gwei (transaction fee) you pay that results in the fastest send time

click on Member list

where the alert, pin and little ppl are

[balmy oriole]

So I see the gas tracker but I’m not understanding what it means exactly

[ruby wing]

Do you understand the concept of Gwei? It is a unit of Ethereum that references transaction cost

the amount of Gwei directly relates to congestion on the ethereum network

so low Gwei is very good when we are staking because the transaction fee is very low

[balmy oriole]

Oh alright I’m following you what decides the price of gwei

[ruby wing]

currently Gwei is like 4-10 which is approximately 1.50-4$

That means that when you go to vest or interact with something on the ethereum network, it will cost you 5-10 Gwei

[balmy oriole]

Gwei is the gas fee name I got you 😎

[drifting shell]

holy moly, ILV nearing its IDO price

[ruby wing]

When you are doing LP, you need to use the fastest Gwei so rn that is 11

back in April, Gwei was 300+ !!!!

so right now it is very cheap

[drifting shell]

i remember it reaching 400 at times

[balmy oriole]

WHAT?? That’s a lot

[ruby wing]

During selloff it hit 700

[drifting shell]

yup

[ruby wing]

maybe more actually

[balmy oriole]

$400 fee??

[ruby wing]

No

Like 80$

1 Gwei is not equal to 1$

it depends on the price of ethereum

[balmy oriole]

Ouch that’s still a lot lol

[ruby wing]

ya...

Do you understand the advantages of Illuvium using a layer 2 solution on Immutable?

[balmy oriole]

So when whale people sell off it’ll spike the gwei?

[ruby wing]

Yep

[balmy oriole]

I’m following

[ruby wing]

So basically, Illuvium is using a layer 2 solution, which means there wont be fees for playing the game

[balmy oriole]

Yeah immutable x gets rid of the fees right?

[ruby wing]

ya 🙂

It is a scaling solution

[balmy oriole]

I got it … I wonder how they do it … wonder if they use ripple.

Like How are they profiting from that lol

What is there solution? It’s like they’re taking on debt kinda

[ruby wing]

I dont think they are using ripple, I am not completely sure

someone from the team def knows more than me

[eager rover]

It’s a layer 2

[balmy oriole]

Wel I appreciate you you’re helping inform a lot

[eager rover]

They aren’t on the main Eth network

[balmy oriole]

Interesting

[eager rover]

So when doing Eth main net to immutable it’s like sending to magic

Matic****

[balmy oriole]

Ohhhh!!!!!

I got me some polygon aka matic

It’s cool to see all the interconnection happening here and use cases

[ruby wing]

Ya 🙂

glad to see you are connecting the dots haha

its great to know to tell friends and family about when they ask

because most ppl dont know much more than names

[balmy oriole]

That’s my niche I like doing the research and asking questions making connections

[balmy oriole]

Absolutely I want to give back to the community and what better way than to share investment knowledge

And spread the news about amazing opportunities and cool new tech in the gaming industry that’s never been seen before

[ruby wing]

Its not even about the investment knowledge tho, I find its just understanding when someone is saying bs versus being realistic

like when some ppl say a certain token will be the worlds future currency im like well here are the barriers and heres why I dont think it will be

[eager rover]

The greatest thing to happen for ILV is to increase network and community

[balmy oriole]

Very true

[eager rover]

More people more popularity is the path to success

[ruby wing]

@balmy oriole did you end up staking or LP?

[balmy oriole]

I’m following I’m spreading the good news

[ruby wing]

Spread it as far as you can haha, as global as possible

we need a vibrant community 🙂

[balmy oriole]

I staked but flexible

[ruby wing]

Cool cool

No clue how much you have in, but whenever you want to claim your rewards, I suggest doing at a time like this where Gwei is like 4

it doesnt drop much lower at all

never seen it below 3 I dont think

[balmy oriole]

What was that price jump back in may or was it March hold up I have screen shot

[ruby wing]

if you are looking at Coinbase or coinmarket cap, there is an error in the price tracking, Idk why

[ruby wing]

https://www.dextools.io/app/sushiswap/pair-explorer/0x6a091a3406e0073c3cd6340122143009adac0eda

this is the accurate site

directly pulls data from the decentralized exchanges

[balmy oriole]

Won’t pull up photo but great I’ll check it out

[ruby wing]

Ya I know the spike ur talking about

there was a legit spike about a week after the IDO tho

went to like 115 I think

just ppl fomoing and overall market sentiment I think

hopefully it happens again towards release

[balmy oriole]

Oh wow I see yeah we’ll this a great opportunity they’re leading the way in pay to play and the graphics are great I believe this game and company will do well.

[ruby wing]

Play to earn haha

much different 😉

[balmy oriole]

Lmao that’s what I meant hahaha

[ruby wing]

Ya ik im just teasing

[balmy oriole]

😂

[balmy oriole]

So impermanent loss can’t happen to you don’t stake in SUSHI LP ? Could I still see impermanent loss just doing the regular staking in the ilv on illuvium website?

[balmy oriole]

Could you answer that question ?

[ruby wing]

there is no imperm loss with single asset staking

for impermanent loss to happen there needs to be separation in terms of price movement from one asset against another

so lets say ILV pumps to 200 (which I hope it does), there will be impermanent loss in the ILV/ETH pool assuming that ETH maintains its current price

but if ILV and ETH both go up together as the same rate, there is no IL

[exotic igloo]

Thats why SLP gets more rewards

It compensate for IL since liquidity on the DEX is necessary and we provide it

[solar cedar]

IL isn't that much and shouldn't have much away on your decision. A doubling or halving divergence in the pair ratio would be about 5-6% Impermanent loss across both tokens. However if you really think ILV will pump, you will get 10x that loss in upward ILV movements by buying into the eth token instead of more ILV in this example. On very small cap farm pairs you can get a lot more IL and these are coined 'deathpools' and will usually have a much higher APR to compensate the capital loss potential. By exiting the LPTs you are turning any Impermanent loss to permanent loss. I suggest you only go into a paired LP with ILV if you are holding the other token anyway and it's doing nothing. I.e. ETH

[exotic igloo]

Yep being paired to eth is great cause both are bullish long term anyway

Gas 4

Its claiming time baby

[solar cedar]

Yeah. I always have a bag of perma eth so I don't mind going into farms with these new tokens. But if you don't already have eth or are buying ILV with your eth, better you just buy more ILV and go into the single pool, if you have a good outlook into hundreds of millions mcap for ILV

[inner grove]

Hi. How many ILV rewards do you usually have when you claim?

[exotic igloo]

Me?

[inner grove]

Yessir

[exotic igloo]

Around 15

[drifting shell]

🤝

[inner grove]

Ok thank you so i wont need to claim daily then

[silver oasis]

so Rah is doing 30ILV a day ....WHALEEEEUUUU

[ruby wing]

Im claiming every 1 ILV when gas is this low

no reason not to

gas is like 1$

[drifting shell]

ILV or bust

[exotic igloo]

Its like 20$ total everytime for me

[ruby wing]

I also only have 108 ILV so Im much slower

[ruby wing]

True

[drifting shell]

Only have 108

Each ILV is $76

[inner grove]

Only 108??

[exotic igloo]

He only have 108 000$

https://tenor.com/view/feel-me-think-about-it-meme-gif-7715402

[solar cedar]

Daily compounding to weekly is barely any difference in sub year timeline. Gas cost will easily overtake that if you're doing 7x more claims.

Even if sub 10 gwei

[drifting shell]

Well

[exotic igloo]

Doing once or twice a day

I can see the compounding in full effect already

It pays well over my gas

[drifting shell]

Daily would mean that you also unlock them on a daily basis in a years time

vs weekly

[ruby wing]

Ive literally done it once with a small amount and I can see the impact lol

[drifting shell]

which i guess you'd want to offload

[silver oasis]

with this gas prices ofc Rah..i wonder if we had the gas prices from Feb lol

[ruby wing]

Hmm I didnt think about that lol

[exotic igloo]

Yea no lol

[ruby wing]

I guess Ill start doing it every 2 ILV then

[exotic igloo]

Id wait a while

[drifting shell]

@exotic igloo is a degen, he's power through 400 gwei, easy

[exotic igloo]

Hahahhahah

[drifting shell]

ILV is future yield

ez pz

[silver oasis]

i think even his degen would go hide itself at that price

[ruby wing]

I mean I guess claiming ILV now is better than waiting and Gwei shoots up

[exotic igloo]

I had some rough time on uniswap in feb

Fucking 80 to 100$ swaps

[silver oasis]

tell me about it ....

[ruby wing]

IDO I paid like 80$

[silver oasis]

150 gwei on average per txh ..sheesshhhh

[drifting shell]

yeah, around $80-90

Gonna do an experiment

Weekly vs daily compund

i have yet to "claim" mine

got 20ILV to claim

[solar cedar]

Try swapping sDEFI at 300 gwei..
$450

I was bricked

[exotic igloo]

Ooof

[exotic igloo]

https://tenor.com/view/honor-thank-you-for-your-sacrifice-gif-15150963

[ruby wing]

Lol

[coral jackal]

Can’t wait to look back on these early days many moons from now and how quickly the staking rewards are flowing at these prices

[solar cedar]

6 month period. Weekly to daily

But 26x6 more claim and stake txns = at least $2000 over that period. So it's not worth it. Don't let the disconnected eth costs fool you. This isn't taking into consideration eth potentially going up in that time too.

The lower the APR goes the smaller that daily/weekly gap gets too

[exotic igloo]

Hummm

Interesting since what you get is not based on usd value i guess you would be right

But i'm drinking

I'll need to take a look back later

Or aaron can bless us with his big brain

The thing is

3% less distribution every 14 days

So you would want to maximize what you get per period

[solar cedar]

APR calcs can just be averaged. 250 is a generous average. It will likely be more like 100-150 over 6 month's which means the daily compounding bonus will be even less, but gas costs the same.

The only way it would be worth it is if you have way more then that 10k capital. In the hundreds of thousands maybe.

[exotic igloo]

Yea

I was gonna say

What if I have way more

Hahahha

The difference would be much larger

And gas price stay the same as you said

[solar cedar]

But unless you have millions worth, multi intra day to daily is just throwing money away

[exotic igloo]

So it would be beneficial to claim more often as the goal is more ILV tokens not more $$

Thanks for the insight tho

Ill think about it

[ruby wing]

This is what im thinking

[ruby wing]

I think with Gwei so low, it makes sense to claim more frequently in the first month

maybe even scale back when APY drops?

just my thoughts/plan

[misty karma]

You can’t trick me with logic, Satan.

[ruby wing]

me? Logical?

https://tenor.com/view/elmo-burning-burn-hell-red-gif-4977777

[gloomy gazelle]

I’ve got a calc sheet I made. It is ugly and has issues.

[gloomy gazelle]

Compound most often now as rates are highest. Less often later as it decreases.

The biggest factor in the apr decreasing isn’t going to be the 3% reductions. It’s going to be the increase in quantity staked.

I expect a very high percentage of the newly distributed ILV rewards to be vested into the ILV only pool. Here are estimated numbers. These first two weeks are bonkers but by the end of these two weeks I think we will start to notice the ILV that is getting vested.

[old nimbus]

Whats the latest advice on claiming rewards now if I have Sushi and Normal, increase the Gas to 280000 and only click the claim sushi button?

[gloomy gazelle]

And use fast gas to mitigate potential sILV claiming.

[ruby wing]

I agree 100%

[sonic wolf]

what the story with sILV?

[old nimbus]

on both transactions? and Do I need to increase gas limit?

[sonic wolf]

why is it bad claiming itt?

[gloomy gazelle]

The limit issue may have been fixed. Not sure there.

[old nimbus]

yeah default was 182154

it failed on me yesterday

So just checking again here..

[gloomy gazelle]

Check Aaron’s message pinned in here

[old nimbus]

no mention on that issue...

[barren tusk]

Yeah compounding is much faster because we're getting a lot on a daily basis. Most investors count on a yearly basis ( - )👍

[gloomy gazelle]

I haven’t done the SLP claim yet. But I’m under the impression that the transactions will be done using the same settings with a single click. I don’t know though.

[gloomy gazelle]

sILV is getting claimed by some when they are intending only to claim ILV. Mostly SLP whales though. 😂

[gloomy gazelle]

it’s not BAD. But it’s not usable for staking. Just for in game usage.

[sonic wolf]

is it iinstead or on top of ILV rewards?

[median canyon]

Instead.

[sonic wolf]

fuck

i mean not alot

0.04 silv

[gloomy gazelle]

Not a lot.

[median canyon]

lmao

[sonic wolf]

so need to claim ilv first

and tthen sushi?

[median canyon]

We've set up the function to do that for you