🥩〕staking

[regal osprey]

Yep I have also gone back and checked that contract data is allowed

[exotic igloo]

Ok I refered your problem to Pedro

[regal osprey]

Thanks for your help, I have an earlier DM to Pedro which I have also replied to, hopefully they can work out what’s happening

[exotic igloo]

He will find a solution

[slender imp]

After reading the staking guide, I hope my understanding is correct, someone please answer me this:

ILV Pool:

• SushiSwap "Swap Tab" ETH to ILV
• You stake ILV
• You earn ILV or sILV

ILV / ETH Pool:

• SushiSwap "Liquidity" ETH / ILV
• You get SLP (Do you get SLP immediately??)
• You stake SLP
• You earn (what???)

[gloomy gazelle]

Yup. Immediate SLP into your wallet. Stake SLP for ILV rewards

[slender imp]

Whats is the best of the two when staking? ILV or ILV / ETH pools? Im planning to put 1 ETH

[gloomy gazelle]

So the APY is better in the SLP pool. But your gas costs will be higher. Not only initially but also to claim/vest compound that ILV interest

It will run the two claim transactions one after the other. You will need to approve two transactions. Be sure to use the SAME gas speed. It will claim the ILV only rewards first and the SLP rewards second. It’s time between the two transactions that may result in sILV dust. But if the gas is the same it should process both very close together. (Joe, who really seems to know what he’s doing stated that fast is not necessarily needed it’s the same gas price that matter most) I now have a close up experience of this.

All the distributed ILV rewards get locked for 12 months in the ILV only pool. So that one is gonna get very full of ILV

[plucky kite]

guys If I will stake another ILV, and I have pending rewards, How many time I need to pay for the gas fee? is it 2? 1 for reward claim and another for the deposit of the new ILV?

[gloomy gazelle]

I believe that is correct.

[gleaming gorge]

I have 10k usd willing to stake for ilv. I have a binance account and a meta mask wallet.

Do i need to purchade ETH then thru meta mask stake ILV?

[junior shuttle]

buy eth on binance, send to MM wallet @gleaming gorge

then use sushi swap to get ILV

finally, you use the illuvium.io website, under staking, to stake that ILV

[gloomy gazelle]

!swap

[woven ibex]

You can buy ILV here: https://app.sushi.com/swap?inputCurrency=ETH&outputCurrency=0x767fe9edc9e0df98e07454847909b5e959d7ca0e

In the swap from section, select which cryptocurrency you would like to trade for ILV. ETH is the main pairing and there will be a slight additional conversion fee for other tokens. Click swap, then confirm swap and a new window will come up in your wallet / Metamask. It is recommended to increase the GWEI a little so your transaction gets through. Optimal GWEI can be found by checking the Gas tracker bot in the discord member list and by checking historical gas prices here: https://etherscan.io/gasTrackeristoricaldata

Go to https://www.coingecko.com/en/coins/illuvium and copy the contract address which is 0x767fe9edc9e0df98e07454847909b5e959d7ca0e. Click on metamask, scroll down to add new token. Click custom token, paste the contract address there and confirm.

[gloomy gazelle]

https://tenor.com/view/this-is-the-way-mandalorian-star-wars-may-may-the-fourth-gif-21430119

There is even a link at the bottom of the staking page to a GUIDE. https://staking.illuvium.io/

[gleaming gorge]

Okay thanks man. So I still need to use sushiswap ithought i can go directly to the website.

thanks!

[gleaming gorge]

Thanks!!

[gloomy gazelle]

Yes @woven ibex is a good bot

https://tenor.com/view/klei-oni-oxygen-not-included-dupe-rowan-gif-19665924

[regal osprey]

If you already have ETH, you can provide liquidity to the pool via zapper.fi and go directly from ETH into ILV/ETH SLP, which you can then stake on illuvium, which might minimise the transactions required

Btw I resolved this issue by manually approving a higher token allowance limit via etherscan. My approval limit wasn’t enough to cover the transaction and I wasn’t getting a prompt via metamask to approve it again (I didn’t choose unlimited spend initially). Hope this might help you too.

[topaz fossil]

So when I swap illuvium to put more into the sushi pool that I'm already in I feel like I'm incepting myself

[regal osprey]

Will it be possible to withdraw all rewards at once or a chosen amount after they have completed the 12 month vesting period? The vesting transactions add up quickly and would be much easier to withdraw x amount or withdraw all

[manic spindle]

It might be possible in the future to do that or something like a partial withdrawal from bigger batches, but there is no confirmation at the moment. For now, every batch has to be withdrawn individually.

[polar apex]

hmm in that case unless eth 2.0 is in place by then with much lower gas, probably should wait for a significant chunk before claiming rewards huh

[gloomy gazelle]

It all depends on your plan.

[brisk surge]

[polar apex]

initially was thinking of claiming more regularly, but i was under the impression it would all be vested together for some reason

[brisk surge]

It's so easy to mess up on the claim with LP

[polar apex]

yikes, 0.00 claim

[brisk surge]

Second tx just pops up randomly on mobile

[polar apex]

rip

[gloomy gazelle]

But you’d definitely want to wait until you the amount of ILV you claim will earn enough rewards to cover your gas cost before you claim again

[polar apex]

makes sense, some other guys were saying waiting til 4-5 ILV

[brisk surge]

The second transaction didn't show up. I was scrolling in the app and it suddenly popped up and I tapped reject

[gloomy gazelle]

That’s about right for now. But will need to be more as ILV only APY goes down

[brisk surge]

Then to claim the LP I had to claim this little bit. So obnoxious

[gloomy gazelle]

Yeah mobile has let me down before

[brisk surge]

I have to deal with this for the next two weeks. I wish there was some queue or something. So awful

[gloomy gazelle]

Could you have taken it as sILV? Or would that have meant BOTH would have been sILV??

[brisk surge]

It's bad that there's nothing to signify the pending 2nd tx. It just pops up randomly

@gloomy gazelle no. I had to start a new 2 transactions. No way to pick up the second half if I missed or rejected the 2nd half

So I double claimed the single LP

I don't know how it decides to do sILV or not for the single stake portion

I wouldn't have cared if the dust was sILV at that ratio

[gloomy gazelle]

Yeah and sILV gets into your wallet. So it will add up eventually

If the first gets rejected does the second show up?

[gloomy gazelle]

Just tried that… doesn’t seem to show up

[brisk surge]

@gloomy gazelle if the second gets rejected or for some reason doesn't show up, I'm not sure what is best practice but to give up

Try again later? Let single stake build again and just forego the compounding for SLP? Because I had to claim the dust in single stake in order to claim the SLP rewards and that was just wasting the gas really.

I'll survive. Just sharing to let others know to not be a dingus and watch those fingers on the screen while you wait for the second tx on mobile. It may surprise you randomly

[polar parcel]

in the locked ILV pool we don’t have to claim to compound though right? it compounds automatically?

[manic spindle]

There is no auto compounding. Regardless of the pool you have staked in, you will have to claim your rewards as either sILV or ILV and if done the latter, then your claimed ILV get vested for 12 months and staked in the ILV pool with a weight of 2.0. That's when you get a compounding effect. Not while your reward pile increases.

[prisma juniper]

Hey, everyone. Newbie here. Do we have any guides/resources where I can learn more about the core pools?

I don't understand the ILV/ETH one

[manic spindle]

You might wanna check these resources before considering LP:
https://academy.binance.com/en/articles/impermanent-loss-explained
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

[prisma juniper]

Thank you so much. I'm gonna read all of these now.

[polar apex]

someone had a nice chart once

of the impermanent loss over time

on the LP

[prisma juniper]

I am unfortunately still too much of a noob to understand this, but I'm reading the articles that Stormi provided.

I'm only gonna invest 1 ETH anyways as it's what I can afford to lose at the moment, then I'll go from there.

[polar apex]

the tldr was that investing in the liquidity pool generated slightly worse returns than holding ilv straight up. however staking it in the higher yield core pool would’ve generated more returns. personally with 1 eth i would probably just do the single ilv staking

[regal osprey]

When you put 1 ETH into the ILV/ETH pool on sushi swap, you are providing liquidity (contributing to the pool of funds that allows people to trade back and forth between these two assets). The pool is designed to stay at a 50/50 equal balance, so your 1 ETH would become 0.5 ETH and an equivalent amount of ILV. If the price of ILV changes vs ETH, your LP position will sell one asset for the other to rebalance back to a 50/50 ratio. You can be worse off doing this than just holding the assets at times.

This imbalance is called impermanent loss. It’s not the best name but basically it’s impermanent because if you wait longer maybe the assets will return the original price and you could exit the position with the same amounts of each asset (plus the fees earned from the trades)

In this case, when you stake on illuvium you are hoping the ILV you earn as rewards will outweigh the impermanent loss

The loss would be if your LP was worth less than 1 ETH when you pull it out

[prisma juniper]

@regal osprey thanks a lot for taking the time to explain this. It's very helpful.

What if for example I invest 10 ILV in LP and generate around 20+ as reward, can I count that as a win even though I may end up with less than 1 from the original after a year?

But would this also mean that if the balance tips to one side too much too fast, I can end up gaining nothing? Sorry, I hope I'm making sense.

[regal osprey]

Say you convert 1 ETH into the pool. You receive an LP token representing your LP position of 0.5 ETH + an equivalent amount of ILV (because your 1 ETH is split 50/50 in the LP).

If you stake this LP token on Illuvium and generate 20 ILV through rewards, and your LP position after all this is now worth 0.7 ETH.

You want this 20 ILV to be greater than 0.3 ETH loss. Eg you want your profits to outweigh your losses. Otherwise you would’ve just been better off keeping your 1 ETH.

It depends what you think will happen with ILV. If ILV increases a lot in value then that’s a great outcome receiving 20 ILV which is likely to outweigh any impermanent loss. If ILV decreases a lot in value compared to ETH, then maybe you would’ve just been better off holding your ETH.

The balance tipping doesn’t necessarily matter either if you are happy to hold both assets in any proportion.

Eg if ILV goes up in value, I don’t mind that the LP will sell some ILV to buy ETH (increasing the proportion of ETH in the pool to bring it back to 50/50).

Similarly if ILV goes down, I’m happy for the LP to use the ETH to buy more ILV. This would only be a problem for me if the reason ILV was going down was because it had had a massive failure or something, if not I’m happy for it to accumulate more at a cheaper price, whilst still also earning ILV by staking it on Illuvium too.

[prisma juniper]

Ahh. That... that makes sense to me! Thanks @regal osprey. I won't pull the trigger yet until later tonight anyway so more time for me to learn more about this.

I may just put mine in the single stake

[regal osprey]

Nice. If you only want to hold ILV and want to ensure you have the same amount of principal as you started with then that’s a safer option (as you know you’ll receive your original amount of ILV + rewards). I went with the ILV/ETH pool because it has a much higher APY. I only put in an amount of ETH that I was comfortable to rebalance in either direction (and will be happy to exit my position with eg more ETH and less ILV, or more ILV and less ETH)

Other things to consider are:

The APY also increases depending on whether you lock the tokens up for up to 1 year, or keep them flexible to withdraw.

When you claim rewards they are also locked from the point at which you claim them for a 12 month vesting period. During this time they are staked in the ILV only pool at a 2.0 weighting, and will earn extra rewards during the 12 month period.

[prisma juniper]

I see. So potential rewards will yield even more rewards, I gather. Wow. Thanks again for all this info!

[regal osprey]

Yeah it’s great they are cumulative in that way. One issue would be opportunity cost from having your LP and/or your rewards locked. However it also means that there is probably less selling pressure overall because most tokens are locked up, which could possibly reduce the risk of impermanent loss

[prisma juniper]

Yep, that makes sense. I've looked at other NFT projects and I think this one has the "it" factor, so to speak. So I'm fine with keeping my tokens locked for X months or a year. Might add 1 more ETH when I can. 😂

[regal osprey]

Nice. I started off staking some LP tokens in the ILV/ETH pool which I locked for 6 months. And then added some more LP tokens which I kept flexible.

[polar apex]

btw i wanted to stake the coins i just bought, but it says i need to claim the rewards first

any reason for this?

[manic spindle]

This is related to the programming and is a result of trying to reduce gas fees, have auto compounding when claiming etc. I can't give you the exact details, but I can say that is is correct for you to being asked to claim when depositing a new stack.

[polar apex]

right, makes things kind of awkward, cause i have so little in accumulated rewards

but fair enough

guess ill just have to eat the gas for it

oh wait

it was a single transaction, so it claimed the reward and also deposited new ones

cool, thats much better

thought i was gonna have to waste an extra transaction to claim first

[prisma juniper]

I might still try that ILV/ETH route somewhere down the line, but maybe not today. 😂

[manic spindle]

🙂 Yeah

[regal osprey]

Fair enough good luck!

Details will be better explained in the resources linked however one other thing to keep in mind is that rewards decrease each fortnight, so you earn more at the start and less over time

[prisma juniper]

Thanks! I'll save this haha.

[hexed roost]

Been following the discussion can I clarify one thing: When staking in the ILV/ETH pool can you just put one of either into the pool then it will do the rest by splitting into 50/50 or do you have to do that upfront?

[manic spindle]

You have to provide a 50/50 ratio of ETH and ILV (in terms of their $ value) on SushiSwap Liquidity to get SLP tokens. Those tokens you then stake on the ILV site

[hexed roost]

Thanks Stormi. So buy ILV & ETH elsewhere then ship over to sushi swap, is 16 gas a good price.

[manic spindle]

You can swap for ILV here: https://app.sushi.com/swap?inputCurrency=&outputCurrency=0x767FE9EDC9E0dF98E07454847909b5E959D7ca0E
Liquidity is then provided under the other tab here to get the SLP tokens: https://app.sushi.com/add/ETH/0x767FE9EDC9E0dF98E07454847909b5E959D7ca0E

Gas is currently low compared to what it was quite often the last days.

[hexed roost]

Ta mate

[regal osprey]

You can do it on zapper.fi. Just convert ETH directly into the ILV/ETH pool on sushi swap (through the zapper interface, in the “Pool” section, just search for ILV)

Much easier and more gas efficient.

[hexed roost]

I saw that comment but when looking at the price of ILV on zapper it seems way inflated to compensate

[regal osprey]

It’s just accessing sushi swap so should be the same

I just double checked and it was the same

[hexed roost]

I’ll take another look would be handy

[regal osprey]

Try putting in an amount of ETH, and the resulting amount of ILV or ILV/ETH should be the same as on sushiswap website

[hexed roost]

Cheers for the heads up. Will probably do it on Friday

[fading nexus]

The yield is calculated over the total slp value in $ and then rewarded in Ilv for the amount of $?

Or am I missing something?

[manic spindle]

To my knowledge, staking yield is calculated based upon total SLP tokens value (meaning ETH/ILV combined) while revenue distribution only takes the actual amount and weighting of your staked $ILV tokens into consideration. @exotic igloo or @livid lark - can you confirm?

Rewards in general (both staking and revenue) are paid out in $ILV.

[exotic igloo]

Correct

[wooden jacinth]

Hey, if you stake ilv and set the lock function to 1 year, if you claim all the reward ILV at the end of the year, do you have to wait another year to be able to trade it?

[strong charm]

Just to clarify, the first BLBP sale is over, so new yield farmers can't purchase until the next distribution (in may?)

[manic spindle]

When you stake ILV and lock, that batch is locked for whatever amount of weeks you decided. When you claim your rewards, every time you do, your pile of ILV is vested for as 12 month period as individual batch, and automatically staked in the ILV pool with a weight of 2.0

[manic spindle]

You can buy/swap for ILV on a variety of places, most of the liquidity is on Sushi though: https://app.sushi.com/swap?inputCurrency=&outputCurrency=0x767FE9EDC9E0dF98E07454847909b5E959D7ca0E

[glacial marten]

Xyz pool ever going back up?

[wooden jacinth]

Thanks, so I already purchased ILV a couple of weeks ago and staked it straight away for a year. Was just wondering if the rewards had the same vesting period as the initial lock - but thanks for confirming. Would you advise to redeem the reward ILV periodically, or would I get more compounded rewards if I did it all in a year or something

[manic spindle]

The most compound effect you'd get if you claimed every single 0.1 ILV but that wouldn't make any sense due to gas fees. You have to evaluate for yourself at what amount ILV piled up as rewards the gas fees on a given time make sense to pay.

[wooden jacinth]

Makes sense, cheers!

Does all of the potential staking rewards make up a large chunk of the total supply of ilv? (not sure if this is the right page to ask)

[manic spindle]

3m of a max supply of 10m are from staking: https://medium.com/illuvium/9-tokenomics-launchpad-and-reward-details-5894c3b356be Another 1m for in-game rewards make up the total of 4m set aside as yield

[wooden jacinth]

And sorry I'm also considering joining the sushi lp pool, do I have to keep balancing my liquidity if I buy sushi lp's?

[regal osprey]

No it will automatically adjust (eg buying one asset and selling the other) between the two assets to keep it at a 50/50 ratio

[wanton nova]

Hey, I just staked ILV. Is it possible to see the rewards accumulate in 'real time' or will the rewards only be visible after 1 year?

[manic spindle]

Rewards pile up every block so roughly every 15 seconds but it obviously depends on the size of your stack how quickly something shows 🙂

[wanton nova]

Thanks for your reply. And where exactly can I see the rewards so far?

[cerulean sierra]

There is a rewards tab at the top, rounded to .00 so if you have less it will show 0.00

[wanton nova]

And after one year I can claim them all or decide to leave them there for compounding interest?

[manic spindle]

You have to claim whenever you think that there are enough rewards piled up to justify the gas fees you'd have to pay. When claiming, your rewards are vested and locked for 12 months. During that time, they too are staked in the ILV pool at a weight of 2.0. So only when claiming do the rewards you have piled up start compounding.

[wanton nova]

Get it now. Thanks a lot

OK one last question (I think). When I staked and locked ilv (for 52 weeks) I can claim rewards after 52 weeks and then vest them 52 weeks after that?

[manic spindle]

No. How long (or if at all) you stake your deposited $ILV has no impact on your rewards. At the moment you claim (rewards pile up every block, so roughly every 15s - only you can decide when it's enough to make a claim worthwhile) those claimed rewards are locked for 12 months. When you claim the next time again, that batch of rewards is locked individually 12 months again starting at the time of that second claim. And so on.

You might wanna check out these articles as well:
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

[rapid grail]

hi - if you exchange your locked ILV tokens to sILV

for use in game

are they only usable for the player whos locked tokens they were, or can they be transferred at all?

[rapid grail]

is there only the sushi 50/50 pool?

did the uniswap v3 80/20 pool not happen? Or am i totally out of date?! haha

[spiral flame]

Hi guys. I'm just wondering, why would anyone choose to stake ILV over ILV/ETH when the apy of ILV/ETH is a lot higher? sorry im a noob

[rapid grail]

LP pools come with Impermanent loss risk

ie more people come in and buy ILV then the pool has more ETH than ILV, so when you withdraw, youll have less ILV and more ETH than when you started. if the price of ILV has rocketed vs ETH then you end up with less $$ value

I believe

[balmy ibex]

What do you need in order to stake in Sushi LP?

[arctic rivet]

SLP tokens from sushiswap of ILV/ETH that can be obtained from sushiswap or zapper.fi

[balmy ibex]

Thanks bud

[granite hazel]

if I stake in any pool ILV and want to claim rewards I need to vesting all tokens including those which used to stake in the first place or only rewards tokens for 12 month ?

[manic spindle]

When you claim rewards, your rewards are vested and thus locked for 12 months from the time of claiming. It doesn't affect in any way whatever you deposited or claimed before that.

[granite hazel]

And I can start claim/vesting only after unlocked coins If I choose to lock it ?

Where is instruction how to creat sushi LP ?

[manic spindle]

Claiming has nothing to do with locking or unlocking of your deposit. Rewards are accumulating every single block so roughly every 15s. You need to decide - based upon how fast your rewards pile up - when it make sense to claim them. You might want to read this here and then come back with questions:

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

[granite hazel]

ok Sir. Can you help me with the Sushi LP pool. How I can create sushi LP tokens ? is there instruction ?

[eager rover]

https://app.sushi.com/add/ETH/0x767FE9EDC9E0dF98E07454847909b5E959D7ca0E

[granite hazel]

So I have to add liquidity through Sushi swap ? Or I need to create sushi LP with ILV and ETH and then use this Suchi LP to stake ?

[uncut mason]

Hello. I'm also looking into investing in the sushi LP. Everything goes through the etherium mainnet right? Using metamask wallet.

[fading nexus]

You add liquidit on sushiswap with ILV and Eth, In return you get SLP tokens, those you have to stake on https://staking.illuvium.io/

[eager rover]

yes, but again you should read the links sent. https://medium.com/illuvium/29-governance-yield-farming-and-vault-distribution-faq-7327ae7eb507

[polar parcel]

that makes sense, thanks!

[granite hazel]

thank you I have already read

if seriously presented material is complicated for those using this method for the first time. Not detailed.

[eager rover]

Are you still trying to make sushi LP token ?

[granite hazel]

No, I just try to find out now about as I locked coins when I can start vesting reward

I got it already 🙂

ok thank you all for support 🙂

[ashen dust]

Does the apy for the core pools take into account compounding interest on the rewards?

[manic spindle]

The APY shown fore both core pools is what you'd get when staking and locking for 12 months for the max weight of 2.0 per token. Compounding happens when claiming and your claimed rewards get staked themselves. The APY shown does not take any compounding into consideration. Would be impossible to do, because you would never know when and how much people would claim at any given time and through that decrease the ILV pool APY.

[silk meteor]

If I stake in Core pools, and lock it for 52 weeks for double rewards, can I unlock the pool and withdraw anytime just in case? Will I be keeping my claimed rewards until 1 yr lock period comes? Thanks for community’s help

[silk meteor]

Thanks for your reply Sorry for noob questions

[vague eagle]

even if ILV dropped 80% against the dollar if you reinvest over the year 2x.. they way compounding works you'd still make a a lot of money

The math is pretty nutty

[mental tangle]

I'm 100% locked for a year

https://tenor.com/view/guitar-kangaroo-roo-autobattler-rpg-gif-22412583

[ashen dust]

That’s what I thought, just wanted to confirm. Thanks for the help!

[spiral flame]

how can I convert eth to eth/ilv with minimal gas fees?

Yup, definitely waiting.

[silk meteor]

One more question, Can I convert USDC to ILV on Sushi swap then stake 1:1 with ETH to supply SLP to enter core pool? What day and time is weekly reward given out to claim?

[exotic igloo]

Yes and the rewards accumulate block by block.

You decide when to claim them

[knotty notch]

Is there a minimum amount of ILV so that I can stake them for ILV/ETH? When I try to stake, no ILV balance is appearing for me to proceed with the staking. Thanks.

[junior shuttle]

@knotty notch you need to use sushi swap to get the LP token to stake on illuvium website

there you will do the ilv/eth pair swap

[hollow widget]

you need to exchange your ILV and ETH to SLP in sushi swap first. You can then stake the SLP in the ILV/ETH pool

[knotty notch]

Thanks!

[knotty notch]

Thanks!

[tardy plank]

Hi. Does anyone know if ILV Rewards accrued (currently showing under Rewards in my Dashboard) which are yet to be claimed...and moved to Vesting compound OR do you have to claim the ILV Rewards first and then these ILV compound?

Also, does anyone know the rate of compounding e.g. is it hourly, daily, weekly, monthly etc. Obviously the more frequently our ILV compound, the better? Many Thanks

[manic spindle]

ILV shown as unclaimed rewards do nothing but wait for you to claim them. Claimed ILV will be vested and locked for 12 months from the time of claiming and be staked in the ILV pool with a weight of 2.0

[tardy plank]

Thanks Stormi - appreciate the prompt response. When you say staked in the ILV Pool - assume this is then the Pool where APY is currently c.145%

[manic spindle]

Correct 🙂

[tardy plank]

Star!. Thanks again Stormi 😀 👍

[uncut mason]

Just to clarify, I need to get ILV before staking into the ILV/Eth pool, right? I cannot go into it with just Eth on my wallet? This means I'll have to pay gas twice, once for buying ILV, then getting the SLP token.

[manic spindle]

If you want to provide LP, meaning to stake in the ETH/ILV pool, then yes - you will have to first get SLP tokens on SushiSwap by providing an equal amount (in $ value) of ETH/ILV and then take the SLP tokens you get to the ILV staking page.

[uncut mason]

Gotcha! Might stake really soon once I get some ETH from my Axie earnings. It'll be my first time staking, this project looks really promising.

[manic spindle]

Sounds great and welcome to the community. Check out the links under #791148036935516161 and all the amazing leaks under #🚰〕leaks and if there should be any questions left, just find the right channel and ask 🙂

[fiery spire]

Yes. The easy way is to use https://zapper.fi/invest

Just search for the ILV/ETH pool and click invest

it will do all for you

So if for example you have 1 ETH in your wallet, zapper will buy 0.5 ETH worth of ILV and then deposit the ILV and ETH on the pool, and in return you will receive the SLP tokens that you can then stake on the Illuvium website.

[uncut mason]

Will check it out for sure. Sounds convenient. So that way saves on gas?

[fiery spire]

Yes https://zapper.crunch.help/zapper-fi-faq/how-much-gas-fee-will-i-save-from-using-zaps

https://twitter.com/NodarJ/status/1296869754540621826?s=20

Nodar Janashia 🦇🔊⚡️ (@NodarJ)

@kryptonikus @dguardi @safetyth1rd Ok let me try to explain the difference:

DIY going into yYFI Vault with ETH:

1. Swap= ~$6 https://t.co/nrIXpdTQWw
2. Approve= ~$3 https://t.co/xZhv9qacPr
3. Deposit= ~$7
   https://t.co/YvGu9I2H69
   Total cost= ~$16

Comparing to ZAP:

1. Zap in= ~$11
   https://t.co/aFrsBDElHE

Likes

109

Twitter · Aug 21, 2020, 6:00 PM

this is the tweet with the comparison

[sharp spear]

Just so I understand (sorry to repeat), I'm currently staking in the ETH/ILV pool at Sushi. I see my rewards, but they are not doing anything now. Once I "Claim" them, that's when the 12-month vesting period begins, correct? And they are placed in the ILV locked pool with a 2x factor, since they are locked for 12 months, correct?

[fiery spire]

Exactly

So it makes sense to claim your rewards from time to time

When it makes sense for you, taking into account the ILV you earned and the gas prices

[sharp spear]

Of course... BUT... Don't you immediately accept a tax liability once you "Claim" a reward? Or not, because it has a 12 month vesting period?

[fiery spire]

Sorry, can't help you with that part. I live in a country that's tax free regarding crypto

[sharp spear]

omg

[fiery spire]

Portugal

[sharp spear]

Anyone?

[manic spindle]

Depends on your country. There are countries where receiving staking rewards counts as a taxable action, yes. But that's something you need to check for your particular country. We cannot give this kind of financial advice here, sorry.

[sharp spear]

Of course, I understand. Just curious...

[hidden epoch]

I have one question, when staking ILV, claiming rewards in ILV allows compound the vest and claiming rewards in sILV allows use those rewards as currency in the game.

So my question is, when staking SLP, is also possible to get compound effect of any kind? If I understand well compound is only possible in ILV staking

[hidden epoch]

I already have some ILV staking but I love the project and maybe I put some more in the form of ILV+ETH

Another question I have is, lets say that I have 1000$ y 1 ILV is 100$. If I stake 10 ILV the APY is calculated over 10 ILV. Now if I get 5 SLP (5 ILV + x ETH), the APY is calculated over 5 ILV?

[fiery spire]

If you're staking SLP, you also have the option to claim de rewards in ILV or sILV

If you claim ILV, it will be automatically staked on the ILV pool with 12 months lock

[kind loom]

The APY is the same for any amount you want to stake, if this is what you meant

[hidden epoch]

Thank you for answering, does it mean that someone that only stakes SLP (not ILV) creates a ILV pool the first time that claim ILV rewards?

[hidden epoch]

Got it !

[grim moth]

Guys also a question on staking. Do we still accrue the revenue from the sushi LP whilst staking on the staking platform?

so basically the standard sushi rewards

[fiery spire]

Yes

When you click Claim, illuvium site does everything for you

[hidden epoch]

Awesome, thank you

[tacit mesa]

hello guys, anyone tried staking and staking and not claim? how did it fair for you guys? this is with regards to a previous post here that i couldnt find where - when he staked - it automatically claimed for him and there was some issue.. cant remember. just curious about this scenario..

[kind loom]

If you are staked and you want to stake some more, it will automatically claim your actual reward.

[tacit mesa]

so does it save me gas fees for having automatically claiming? or not?

[kind loom]

Yes it saves you gas, because when you stake, it always claim your actual rewards even if it is 0.001 ILV. So if you plan on staking more, don't claim before.

[tacit mesa]

thank you thank you.. 🔥🔥🔥

[kind loom]

Np :)

[silk meteor]

I read some information link about staking but one thing I’m not clear is how many ILV reward tokens are given weekly in each core pool and the eventual Xyz flash pool. I think total is 3 million tokens over 3 yrs but 1.8 million in the first year with weight 0.2 for ILV pool, 0.8 for Sushi LP and 0.02 for flash pool. As I’m planning to stake some $$, I’d like to know exactly how many tokens for each pool weekly. Thx much!

[manic spindle]

If I remember correctly it was 96k the first two weeks, is reduced by 3% every two weeks and the weight per pool you already mentioned.

[silk meteor]

Thanks always!

[grim moth]

Does the APY on the site for sushi LP only include the APY from staking on the dashboard, or does it also already include the regular sushi LP rewards? In case of the latter, how is the expected APY on regular sushi LP rewards calculated?

[grim moth]

Does the APY also reflect this?

[rancid brook]

How do I stake?

How much is current APY?

[ruby wing]

As much as you are willing to

[hollow widget]

Can you explain some more regarding this? What if I want to stake my ILV token from metamask for 20 weeks. Illuvium will automatically stake my current ILV rewards (from staking in ILV/ETH pool) to the ILV pool?

They will use a single gas fee, but they will be locked at different periods (20 weeks for the new ILV tokens and 1 year for the rewards ILV tokens)...is this correct?

[kind loom]

If you stake in the ILV only pool, it will claim the reward from the ILV only pool. This is because you can claim the ILV pool without claiming the ILV/ETH, but if you claim ILV/ETH, it will claim both.

[kind loom]

This is correct.

[kind loom]

But yes, your reward from ILV/ETH will be staked automatically in the ILV only pool.

[hollow widget]

Thank you very much! It is clearer now

I guess I will be staking more once ILV prices are a little more favorable and when I have a little more rewards. Thanks again! 🙂

[modern comet]

I want to ask, is it more profitable to stake ILV or ILV/ETH LP??

Has anyone here already benefited?

[exotic igloo]

Of course hahah

ILV/ETH is more APY but you have twice the amount of gas transactions

And also run the risk of impermanent loss

[ruby wing]

If you are scared of IL, single asset pool is best

and considering how much AXS has pumped I am worried about the IL

we are clearly detached from ETH at this point as well, which can increase IL. Just my ten cents, NFA

[primal dagger]

eth is going to zero while ilv goes to the moon, seems like an easy decision

[polar apex]

so ur saying im not an idiot for single pool staking

gotcha

[ruby wing]

https://tenor.com/view/thanos-perfectlybalanced-gif-18301221

[junior shuttle]

If you are here and bought some ILV you are not an idiot

quite the opposite in this space

[mental tangle]

I like to be in both pools

[celest tusk]

When did this start?

[hollow widget]

isnt impermanent loss just the opportunity loss of investing in the pool compared to the possible growth if you just hodl eth and ILV? im confused if impermanent loss is really a danger

i cant fully imagine it

[ruby wing]

It really depends on the divergence from ETH

[hollow widget]

what if you invest 250 USD total for the ILV/ETH pool, after 5 months the price of ETH is 3x and ILV is 7x...how would that affect the current value of the SLP ?

the ratio would change... but you are still making money even if the ratio changed ?

[ruby wing]

if ILV goes to 500+ it could be significant for example, assuming ETH stays flat or drops

[ruby wing]

for SLP the other thing you have to consider is gas fees when you claim

[hollow widget]

yeap i understand the gas fees..but the impermanent loss is not yet clear to me

[ruby wing]

its reccomended that if you have under 2K USD to put in, it is best to go in single asset because with SLP you claim twice

[hollow widget]

if we dont take into account the gas fees

[ruby wing]

It is basically a temporary loss of the assets you put in if there is a divergence in the asset pair, so if ILV is drained from the pool as it pumps, you would have impermanent loss

it is tough to determine if yield will outweigh because it depends on the yield you anticipate in the future + how long you lock

[hollow widget]

do you have any idea if there is a calculation somewhere of impermanent loss which shows the current prices of ILV and ETH , and future prices of ILV and ETH, and how it overall affected the value of the SLP and impermanent loss?

i mean example calculation

[ruby wing]

I dont unfortunately, no

it is dynamic so it is hard to estimate

[junior shuttle]

yeah i dont think anyone has a formula for that

[ruby wing]

Sushi might have data on it

for each pool

i am not sure tho

if you have limited funds, it is best to go in the single asset pool or save ETH for game, mystery sale and gamelaunch IMO

NFA

[hollow widget]

from what i understand, if you deposit ILV and ETH, when that ratio changes and you want to withdraw...the amount of withdrawn ILV and ETH changes. The you more of the token with lesser value in the ratio. but if both coins actually made money...there is actually no loss on your side?

[ruby wing]

There is if there is divergence of one asset

so if ETH goes up 10% but ILV goes up 5X

then there will be a good chunk of IL

There is more risk and that is why yield is higher

[hollow widget]

i guess ill try to read more..still very confused

thanks anyway 🙂

[ruby wing]

Sorry, it is hard to explain

[hollow widget]

its ok . iactually understand it already around 70%

[ruby wing]

Ok cool

[regal osprey]

#🥩〕staking message

I tried to explain it here also

[ruby wing]

Good explanation!

[hollow widget]

but technically if both ILV and ETH price increases ( e.g ILV 10x , ETH 3x) ... you would still not be losing money at the end of the day (if you dont think about how much your money would have grown if you just hodl the ILV and ETH , and not staking them)

is that correct? or you could still possible lose money even if both ILV and ETH prices actually increases

[regal osprey]

I think you can consider “loss” in this instance to be a relative loss, or the opportunity cost of doing this. You might still be up in $ terms but maybe you would’ve been up more if you just held the assets individually. Or maybe you paid in ETH and your LP is worth less ETH than you put in.

I think most people here are concerned that ILV will outperform ETH, and they will therefore exit their LP position with less ILV than they started with.

[hollow widget]

this is my understanding

[regal osprey]

I price in ETH, and my concern is always whether I will pull out more or less ETH than what I started with

[hollow widget]

I see...i think there is a huge possibility for this because NFT games tend to increase in value so much especially if it is hyped

[ruby wing]

Look at AXS today

if that was in an LP

[hollow widget]

yeah..that is my basis actually

[ruby wing]

lots of IL

3$-30.4$

yikes

but who knows what ILV will do

all I know is that we would go 10X from here if we hit AXS diluted

and thats good enough for me

[acoustic loom]

My brain hurts reading this. I'm a marketer, not a economist. 😛

[hollow widget]

a lot of games that are not that good and well made, made significant gains in value just from hype alone

[ruby wing]

🧠

https://tenor.com/view/smart-hangover-alan-genius-zach-galifianakis-gif-5568438

[regal osprey]

For sure. That would be a win for me even in the LP, as it would equate to selling ILV on the way up and ending up with more ETH from my LP, whilst also having my ILV rewards

I think it makes more sense to price ILV in terms of the ETH ratio, given that all the liquidity is in ETH, and in the future the vault will be automatically executing buybacks of ILV using ETH revenue (from the ILV/ETH pool).

Do people around here have price targets for ILV in terms of $ or ETH?

[ruby wing]

no clue

0$ or 10,000$

somewhere in there

[hollow widget]

ILV is currently 111.59 USD..... do people really think there is a possibility of 10000 USD?

serious question btw

[modern comet]

i keep monitoring $ilv and it keeps going up

[ruby wing]

Good let it go up

[hollow widget]

im actually interested in this as well

[ruby wing]

People didnt think btc would ever hit 50K +

but it did

never doubt network effects of crypto

one thing I have learned

[hollow widget]

i guess if there is a game that could potentially gain interest as much as axie, this might be it. hmmm makes me want to invest more on the ILV pool

[ruby wing]

https://tenor.com/view/this-is-the-way-mandalorian-this-is-the-way-intensifies-gif-16048235

[hollow widget]

hopefully the gameplay, concept and graphics actually pulls a lot of interest. We will have to wait until beta. assuming more marketing will be released when close beta starts

[ruby wing]

Team is just getting strted

get strapped in ready for takeoff

https://gfycat.com/possiblerealarrowworm

[manic spindle]

I would expect it to, if not, where would the calculation get any value numbers from? You gotta know what is being paid out to be able to calculate an APY.

[manic spindle]

Staking began July 1st 🙂

[grim moth]

Surprise APY drop every 2 weeks 😂 but yes I guess it only makes sense that it is calculated in there too

I ultimately went for the sushi LP staking, lockup to eoy. Would take some serious blow up from ILV, relative to ETH, for the IL to beat the yield. And if it does, i’ll still consider it a win 😁

[grim moth]

Hey Rahlord, are the ‘standard’ sushi rewards part of the sushi LP yield%?

Or are those added seperately as it may be hard to put an apy on something that is volume based?

[strong charm]

If I'm to stake in the ILV core pools, whats the difference between staking without locking my coins and keeping it flexible and just HODLing??

[manic spindle]

If you lock your token weight increases. At max 12 months every token you staked counts for 2 in calculation for yield rewards and revenue distribution.

[hollow widget]

anybody have an estimate when a gameplay trailer/video of illuvium will be released?
I want to invest more ILV before that happens

[manic spindle]

The team is working on the gameplay trailer. It could theoretically drop every minute but could also take days/weeks from here. Nothing has been announced aside a few leaks here and there, but those were not related to the release date of the video.

[strong charm]

But what if I’m just staking without locking it and keeping it flexible? Don’t my rewards then just rely on the value of the coin?

[manic spindle]

If you stake flexible without locking your tokens count as 1.0 each. So someone who locked for 12 months with the exact same amounts of $ILV as you will basically get double the rewards.

[strong charm]

so wouldn’t this mean that it’s better to just HODL with the coins instead of staking flexible?

[primal dagger]

You get no rev divs or staking rewards unless you stake

So everyone should stake

[queen horizon]

Depends on your risk appetite, if you intend to invest for 2 years plus lokcing in is definitely better option

[manic spindle]

What do you mean with HODL? If you stake flexible you get staking rewards and revenue share as 1.0 per token and can withdraw your staked ILV at any time. If you lock, then you get more rewards but can first withdraw again when the lock period is over. To own ILV and not even stake without a locking period makes little sense as you throw away free rewards. Maybe if you own veeery little ILV only then gas fees might not be worth the staking.

[strong charm]

Got it. thanks for the replies

for example, if I was to lock my coins for 6 months, then stake them again for another 6 months (with a token weight of 1.5), will I end the 12 months with a token weight of 2.0??

like can you have that flexibility of choosing to pull out halfway but retain the token weight multiplier?

[queen horizon]

No it doesnt work like that exactly I think. You will get less doing it this way compared to lock for full 12 months, because yield will go down. So you do not profit of a higher weight in the first 6 months where it counts more

The 2nd 6 months will have lower yield and you will also receive a lower weight

so 12 month lock up yield > 2 times 6 month lock up

[strong charm]

thank you

I’m thinking of spending buying 3 ILV but wondering how I should stake it

Especially as someone with little experience

[manic spindle]

You lock your tokens for X weeks and get multiplier Y for that. For example, 6 months and 1.5. When the tokens unlock, the multiplier remains for as long as those tokens stay untouched. When you withdraw them they are back to 1.0 so locking again for 6 months only gives you 1.5. For 2.0 you have to lock a full year.

[strong charm]

And these extra tokens from the multiplier are vested tokens? (At least once I’ve completed the lock period and want to acquire them)

[polar apex]

how long you stake it depends on your risk appetite. if you think you are highly likely to want to sell it in the near term, you will stake it flexible / hold it without staking (3 ILV may not generate enough returns in a short time frame to be worth the gas). if you believe the project will be successful and you have a longer horizon, locking it gives you the most value for your money

there is no best answer, each person's situation varies

[strong charm]

thank you so much

[polar apex]

good luck

[strong charm]

I think I’ll lock and keep some flexible too

[manic spindle]

All staking rewards are locked for 12 months and staked themselves in the ILV pool at a weight of 2.0 at the time of claiming. You also might wanna read up on these three articles in detail:

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

[strong charm]

Because I do see myself selling quickly in the short term

[polar apex]

in that case, i would either stake flexible or just keep it unstaked, especially for a smaller sum such as 3 ILV

keep in mind you will have to pay gas transactions twice (to deposit the staked amount / withdraw it later), which can add up

[strong charm]

I’ve been referring to these articles for my info really just don’t understand the vesting now

[manic spindle]

You stake a certain amount of ILV => Staking rewards in form of additional ILV start to pile up for you => You claim those ILV when its enough to justify gas fees => Those claimed reward ILV are then vested for 12 months, meaning they are locked and additionally staked themselves in the ILV pool with a weight of 2.0, basically creating a compounding effect.

[strong charm]

ok amazing

It’s only the additional ilv that needs to be vested

Thanks so so much for all the help

[modern comet]

can @manic spindle give me an example for stake calculation
for example, I stake 10 coins $ILV locked for 12 months and after 12 months, how many coins will I get? sorry if i bother you

[manic spindle]

I cannot, sorry. The reason for that is that no one can guarantee how the APY is going to develop over time. Right now the APY for the ILV pool is 142%. It could go up a lot at any given time (by someone pulling out) and will for sure go down over time (new people joining and staking rewards in general being put in there). Impossible to say how much it goes down though and when. Same goes for the compounding effect of your rewards. When do you claim them? When do others claim?

I would love to give you a clear answer here, but this is something everyone needs to understand and evaluate for themselves to make the right decision.

[queen horizon]

It really depends on, how many additioanl people buy ILV and stake.

[uncut mason]

Finally did it! Staked into the ILV / ETH pool. Locked in for a year. I'm really excited for this game.

[modern comet]

how much you stake ?

[uncut mason]

It amounted to .6 SLP

[modern comet]

you are amazing

[sinful hatch]

Has anyone who has staked in the Sushi LP option, how good or bad have Gas fees been?

[strong wharf]

grats!

[granite hazel]

if the ILV price drops the quantity of ILV rewards per 1h decrease? Or decrease the only price of reward?

[granite hazel]

if less people staking and the price ILV drops it will decrease ILV rewards for those who still staking correct?

[grim moth]

I like the peace of mind that comes with locking in 🙂 can't make fomo decisions

[grim moth]

ILV rewards are constant per block

[granite hazel]

thank you. But still did not answer to question

[grim moth]

Yes I did, if ilv rewards are constant, the rewards per hour in dollar indeed depend on the price 🙂

[queen horizon]

Depends how you denominate. in USD yes APY would drop, but in ILV terms it doesnt matter

[granite hazel]

ok thank you I was interested in ILV volume growth rewards.

[granite hazel]

Yes you are right. not so I understood your answer at first

[queen horizon]

Yeah they reduce a bit every 2 weeks

3% less each week

sorry every 2 weeks

[granite hazel]

3% a lot.

[modern comet]

stake $ILV or ILV/ETH ???

[manic spindle]

You have to decide that for yourself. If you never provided liquidity before, make sure to read about impermanent loss first: https://academy.binance.com/en/articles/impermanent-loss-explained

[exotic igloo]

You dont get sushi rewards. You get the transaction fees tho.

[lament basin]

Has the APY for the ILV pool been going down over time? If I remember it started out around 300% but it is now at 141%. I believe I staked on day 1...so does that mean I locked it at the better rate?

[exotic igloo]

No

It is always fluctuating over time. You dont get the apy you staked at

[queen horizon]

both

[queen horizon]

Whatever you prefer

[silk meteor]

I finally enter some sushi LP pool. Thanks for community’s help!

[lament basin]

thanks

[queen horizon]

welcome

[mental tangle]

https://tenor.com/view/illuvium-ilv-illuviumio-yield-farming-compounding-interest-gif-22210108

[halcyon crescent]

stake $ILV or ILV/ETH ??? What are the main benefits/cons for both options? I'm gonna lockup for 12 months

[exotic igloo]

Those questions got answered just a little bit higher

[faint shadow]

It's bound to keep going down. Every time we all claim, more ilv is staked there, further sharing out the apy across a bigger pool of staked ILV

[celest topaz]

https://tenor.com/view/doge-doge-coin-to-the-moon-crypto-cryptocurrency-gif-14563637

[median canyon]

You guys are nuts today.

[ruby wing]

Its because of you, you hyped the ppl up

and of course Von

https://gfycat.com/possiblerealarrowworm

[slim crag]

Hi everyone!
I have a question about claiming ILV I claimt some a couple of days ago. But they didn’t show up in the vesting section. Is this normal?

[cerulean sierra]

did your transaction succeed?

[slim crag]

Yea MetaMask did the transaction

[river scaffold]

If you are in both pools. One sided ILV and ETH/ILV. When you claim rewards are they done in separate transactions or do they accumulate in the same pool and can be done in 1 transaction?

[exotic igloo]

You claim the SLP pool only

Cause it claims both pool rewards at the same time

[fading cloud]

Can someone explain for me ... How I can stack ILV using slp

[proven mason]

So, I've been looking at this myself just earlier. I THINK I understand it, but I haven't done it, so you may want to check with someone else.

SLP is a liquidity token. https://docs.sushi.com/products/amm-exchange/liquidity-pools

The basic idea is that you put in two different crypto's into the sushi app, and they'll award you with SLP of the type of cryptos you put in

An important point is that if you want the SLP to actually be usable for staking ILV, these two currencies MUST be ETH and ILV.

Anyway, the way it would work is that you'd need a wallet like Metamask containing your ETH or ILV, and you'd go to https://app.sushi.com/swap

Click on Liquidity, and make sure the two currencies selected are ILV and ETH. Choose the amount you want (The ratio of ETH to ILV should be fixed for you based on current market prices), and hitting the approve button should award you with the appropriate SLP token

Which you can then stake as per normal here: https://staking.illuvium.io/staking/core

[fading cloud]

Thanks

[proven mason]

No problem. Again, you might want to double check the info; I have not actually done this myself, so it's possible I missed something.

[queen horizon]

It is correct, however youshould learn anout Impermanent Loss when providing liquidity in Sushiswap

[charred rampart]

is there a instructional video in here demonstarting providing liquidity to the ilv/eth pool for first timeers?

[glass carbon]

good idea I haven't seen anything like this floating around. For now I'd read up on other staking contracts. Using the Sushi Onsen is pretty similar to ours afaik.

[wary oriole]

any new news on flashpool

for xyz

[exotic igloo]

Check the IIP-007

[spiral flame]

Hi guys. When is the best time to get the rewards? to maximize profit ofc 😋 I mean I have 0.4 ilv that can be claimed. should i do it? or wait for it to grow more?

[exotic igloo]

Id wait more

You will pay way more gas than what it will give you in compound

[spiral flame]

thanks! when do you usually claim yours?

[exotic igloo]

Twice a week

Or when I have more than 20 ILV

[strong charm]

do you stake ILV/ETH flexible?

and why exactly is the APY for ILV/ETH staking higher? Is it because of the pool weight becuase 0.8 compared to 0.2 in the ILV pool?

[regal osprey]

Yes, it’s because the amount of ILV allocated to that pool is higher

[ember basalt]

if I want to transfer my stake from flexible to locked, can I do it in 1 transaction? or do I have to unstake first, then stake again?

[exotic igloo]

Yea it is higher because of the weight. You take more risk providing liquidity to the pool so you get more rewards.

I'm locked 52 weeks.

[exotic igloo]

Withdraw then stake again

[wraith heart]

This looks primed to run pretty hard soon.......
Anyone else concerned about 12 month impermanent loss on ETH/ILV staking?

[strong charm]

Got it got it

[strong charm]

I’m personally afraid of running that risk yes

I’m thinking of just going into just single ILV Staking now

[wraith heart]

Yeah I think I might put any ILV earnt into single sided.....but thats just me
I would have retired off ERSDL if I hadnt had IL on my stake

[polar apex]

depends when you think ilv might run

and if u can earn enough via staking rewards by then to make it worth it

[strong charm]

What are the benefits of staking ILV flexible if you don’t receive the token weight multiplier?

[polar apex]

for example if you think the price has peaked

with flexible u can pull it out and sell and cash out

while locked u might sit through various peaks and bottoms

flex is lower risk, so also lower rewards

[strong charm]

do you still get extra ILV by staking flexible?

[wraith heart]

yes but lower APY

[polar apex]

interesting, does this basically indicate that if you had LP'd since the start, you'd be down 6% in impermanent loss

[junior shuttle]

not taking into account the rewards?

[modern comet]

I have entered SLP ILV/ETH, hopefully it will give great results

[celest pond]

ok just staked 5 ILV locked till November lol

[sharp spear]

A couple of points: first, there is more risk in the Sushi LP pool, so may not be for everyone. Your upside is aligned with ETH, so a 10x from ILV and "only" a 2x from ETH will lower your total returns. However, don't forget your rewards are paid in ILV which are locked for 1 year, so in effect if you go into the Sushi LP pool, you are in both pools (rewards go into the ILV only staking pool).

Also, there is no rule that says all or nothing. Obviously this raises gas costs, but you can participate in both pools. I have put half into the Sushi pool, locked for 12 months. The other half I have in the ILV staking pool with no lock. My plan is to sell half my ILV (what is not locked, obviously) if there a huge run up (3x or so). Keep the other half long term, depending on how the project develops.

[sharp yarrow]

Are the rewards for ILV/ETH vested for 12 months as well ? Or only single pool

Ok, what's sILD ?

sILV*

[stray flare]

Do we know if auto claiming + compounding will ever be developed?

true, i forgot were on eth

used to like auto compounding protocols on solana doing it for us cos its like fee-free transactions

[hidden epoch]

where can I see that chart?

[polar apex]

sushi swap analytics

[hidden epoch]

oh thanks

[stray flare]

could staking move to immutable? or is that not technically possible

yeah fair enough, thanks for responding Ami

[slim crag]

Hi everyone!
I have a question about claiming ILV I claimt some a couple of days ago. But they didn’t show up in the vesting section. Is this normal? The transaction did succeed.

[junior shuttle]

did it claim as sILV?

[slim crag]

I claimed it as ILV

[junior shuttle]

It either should show up in vesting or if it doesnt it will show up as sILV

did you change gas when claiming?

i hear sometimes when slow gas is used this happens

No expert. That is the only way i have seen it claim as something

[fading nexus]

Maybe this has been asked before, but I couldn’t find it. How come is the yield percentage dropping in the ilv only pool, but rising on the ilv/Eth pool??

[junior shuttle]

ppl can leave pools

and all rewards claim for the ilv pool

so it is natural that the ilv pool will decrease in %

@fading nexus

[slim crag]

I didn’t change the gas when claiming, but I also didn’t speed up the process. Just waited till it succeeded

[junior shuttle]

@slim crag so is it not showing up as anything at all or is it showing up as sILV?

[fading nexus]

@junior shuttle ok, I understand thatone, but the percentage of the sushi pool is rising howcome that happening? I see only more people joining that pool and thought it should drop then too.

[slim crag]

Not showing up at all🥲 vesting tab is still just showing my first ILV deposit/stake

[junior shuttle]

have you tried a refresh? @slim crag

if so, post transaction hash

[slim crag]

I’m so sorry it says succeeded on my phone, but if I click to ether scan it says fail, because it ran out of gas🤐

[junior shuttle]

@slim crag ok, now you know the problem 😅

best of luck!

[slim crag]

Yea thanks for the quick response! Happy that everything is oke haha ✌🏻

[steady lagoon]

How does the APY system work for staking ? When do you receive the incremental ILV from the stacked amount ? Each week/month/year ? (I have locked my ILV for a 12 months period) Thanks!

[fading nexus]

@junior shuttle ok, I understand thatone, but the percentage of the sushi pool is rising howcome that happening? I see only more people joining that pool and thought it should drop then too. @livid lark maybe you have the answer?

Maybe this has been asked before, but I couldn’t find it. How come is the yield percentage dropping in the ilv only pool, but rising on the ilv/Eth pool??

[strong charm]

is there any downside to staking flexible compared to just HODLing?

I believe the coin will peak so I won't lock in but theres no downside to just letting my coins grow while I wait, right?

I want to have the option to sell if the coin reaches a peak

[hollow widget]

gas fees only

and you have a lower APY

if you have a guess on when the peak will be

maybe jan -feb ?

than it might be a good idea to lock your ILV until January

[steady lagoon]

hey guys when does the payout of the APY occurs ? thanks just started stacking

[manic spindle]

Every single block, so roughly every 13-15s your rewards are piling up. You have to claim then at a time that makes sense for you gas wise though for them to start their 12 months vesting period.

[junior shuttle]

52 weeks from when you claim

[steady lagoon]

Oh I see it's already started to give interest 😮

I've locked for a full year, full trust on this one

cheers !

[manic spindle]

https://tenor.com/view/one-of-us-gif-11131756

[fading nexus]

Oh I see it's already started to give interest 😮
@steady lagoon yeah, and it is addictive looking at it all day 🤣😂

[edgy stirrup]

Hi, one question (sorry if it was already asked). The value of my SLP staked for 1 year is X if I look at etherscan but higher than X in Illuvium dashboard. Why is that? Could be the trading fees?

[wanton nova]

Hey, say I want to provide Ilv-sushi liquidity do I need sushi and lp and stake it or can I just stake Ilv and half of it is swaped to sushi?

[manic spindle]

You provide liquidity in form of ETH/ILV on Sushi, get SLP tokens for it and stake those SLP tokens on the ILV staking site. Here is the sushi link: https://app.sushi.com/add/ETH/0x767FE9EDC9E0dF98E07454847909b5E959D7ca0E

If you never provided LP before, you should read up on Impermanent Loss first: https://academy.binance.com/en/articles/impermanent-loss-explained

[wanton nova]

Ahhh OK. Thanks

[wanton nova]

Thank I know about IL. Might be risky with ilv on the rise but the rewards just sound too good

[spiral flame]

eth on the rise too

[fading nexus]

@manic spindle you know why the yield of the sushi pool is rising and the ilv only declining? What causes this? Ilv only I understand because of the claimed tokens are diluting it, but the other pool I don’t understand, because I see many joining there and still the yield rises,....

[manic spindle]

Could be related to ILV pumping right now in comparison to ETH. Could be due to people leaving the pool.

[polar apex]

maybe they exited the pool and bought more ILV straight up

[strong wharf]

I saw a lot of people pulling out of the sushi pool few hours ago, hence the rise

also all compounded ILV goes to the single staking pool automatically so logically it declines

[ember basalt]

i tried to unstake my sushi lp to transfer it to locked

but i got this error

Warning! Error encountered during contract execution [Out of gas]

what does that mean? i do have the money for gas fees so that shouldn't be a problem

[strong wharf]

try again with higher gwei

[ember basalt]

that worked. thanks

these gas fees are killing me!

[naive barn]

GM fellas....staked 1 ETH this am. Will add more once price comes down a bit. LFG

[polar apex]

welcome aboard

[brisk surge]

So many new faces. Happy to see it. Welcome!

[fiery spire]

Means that the transaction didn't have enough gas to execute

You need to rise the gas limit

[fading nexus]

What happens to the sushi swap fees? I know it is asked before, but we don’t receive them, so where do they go? As liquidity provider I’d like to know 😬

[polar apex]

Tip: By adding liquidity you'll earn 0.25% of all trades on this pair proportional to your share of the pool. Fees are added to the pool, accrue in real time and can be claimed by withdrawing your liquidity.

so, assuming ILV 13.3mil volume over 24 h, 33250 usd is split between the holders of the pool

[silk meteor]

I understand you can claim your share of fees when exiting, but Is there any way to track how much fee has accrued?

[brisk surge]

is there an option to receive ILV only from the SLP pool?

[exotic igloo]

You receive ILV rewards from the SLP pool

https://medium.com/illuvium/28-everything-you-need-to-know-about-staking-ilv-6669594b2fac

[brisk surge]

I have read the instructions, the tokens from the ILV pool are received first ... and I do not want to receive them, I only want to receive tokens from the SLP pool - how to do it, if I choose the claim SLP .. option, I have to collect tokens from the ILV pool first ...

[thorn swan]

GM all - new member here, just staked this morning - looks like a great discord channel

[ruby wing]

Welcome

[thorn swan]

ive read the docs, can someone help me with this question - do i have to choose to either claim sILV or ILV or do you get both?

[ruby wing]

You have to choose, this will be done when you claim

for most of us, it makes sense to claim ILV right now, but closer to game launch we will be claiming SILV to use in game

[manic spindle]

!welcome find a seat, look around and enjoy the ride 😄

[woven ibex]

Welcome!

Wondering where to get started and learn more? The #791148036935516161 section has all the information you need. From a brief overview to links that lead to highly detailed information. Also, be sure to check out these channels in the discord to stay up to date: 📣announcements #🚰〕leaks #✍〕rules

[ruby wing]

🙂

[thorn swan]

to compound now on the basis you will be able to swap 1:1 upon game launch?

[somber tartan]

why do we have to claim our rewards often? will we lose it if un-claimed? noob here

[manic spindle]

You can wait. Nothing will be lost. They will keep piling up until you claim. But the locking period of 12 months and thus the compound effect in staking only starts when claimed.

[ruby wing]

ummmm not sure

Stormi might know

[somber tartan]

what happens if I claim sILV? Does the same principle apply?

[manic spindle]

No. sILV is unlocked immediately but also just valuable for in-game usage to pay for fees otherwise paid with ETH

[somber tartan]

So the compounding only works on the claimed ILV huh. thanks!

[manic spindle]

Yes, and you're welcome 🙂

[exotic igloo]

You cannot only claim SLP pool rewards.

This is made like that so we can have compound.

[pale viper]

Hello! I want to stake but I can't see my APY is this normal?

[regal marten]

Nope, this is not normal. If I try the staking interface I do see an APY appearing. Tried reloading the page? If so, what browser are you using?

[pale viper]

im using firefox since i can't click the connect wallet on my brave browser

i guess I'll try again in a while

[queen horizon]

have to releoad the page maybe?

[hexed bough]

Yea, can you try to reload the page. Having issues with one of our services, causing some things to not calculate properly. Refresh should do the trick whilst we find a permanent solution.

[amber iris]

Hey guys, i know its not straightforward, but can someone give me a type of formula to decide when to compound?

Like, if i set a goal of paying $10 for gas, when should i collect?

I have 2.63 ILV right now, thinking this area is the sweet spot but not 100% sure. If I do it every 2 or 3 weeks

[glass carbon]

@unique grail no worries mate, looping you in over here for info relevant to your question

@unique grail if you're still wondering 'invest' refers to buying the ILV token and 'staking' is for those who have bought and want to earn rewards on their ILV

[unique grail]

Ahhh for example the game already launch and I'm new and wanted to have a bit of ingame currencies, Invest option is where i need to start with? Then when I save many ILV and if i wanted to have a longterm benefits of earning more then I should head to Staking?

[glass carbon]

I'm kinda too small brained for this (I just claim when low gas) but generally rewards on claimed ILV between claims should outweigh gas fee in $$

[glass carbon]

You don't need to invest to be able to spend on the game. You just need ETH. ILV has separate uses !ilv

!ilv

[woven ibex]

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

Liquidity Mining:
Here, you will gain more ILV. This 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 once the game and Illuvidex are launched.

For further details read: https://medium.com/illuvium/9-tokenomics-launchpad-and-reward-details-5894c3b356be

[amber iris]

Yeah i think i did a bootleg type of calculation and figured it

Not gonna lie its a bit confusing when you are thinking of these returns in ILV, paying in ETH, and thinking of USD out of all of it lol

[glass carbon]

True especially if you're new to yield farming

[unique grail]

Ohhh yeah i mean invest or buy eth, because I was originally a small time miner and i can convert some amounts of my BTC to ETH to be able to buy iLV using metamask. Is that right?

[glass carbon]

Yeah you can! It's recommended to use sushi swap for your ETH to ILV swaps

[amber iris]

Im not, but there isnt any farming like this with a lockup + lockup on rewards lol

On eth blockchain too. Im used to harvesting rewards on pancakeswap, but tx cost isnt an issue there

[unique grail]

wow really, i knew it there's another good way besides of just simply mining. From now on i will try to allocate small amount of ETH on my part. I'm pretty excited with illuvium. One last question sushiswap accepts any ETH wallet address right even if it comes from a mining platform with ETH wallet.

[silk meteor]

I have a question if anybody can help me. While I was staking additional ETH ILV pair in the LP, I was prompted to claim 5.07 ILV rewards first that was accruing so I did and now those claimed ILV tokens are in the ILV core pool. But after all that when I click on Vesting link, this is what shows. I think I claimed rewards twice in a row by mistake, but what are those 2 ILV pools with almost 0?

[exotic igloo]

That is normal

You need to claim rewards before adding to your stake

[silk meteor]

Thanks Rahlord! I cheeked etherscan. I did claim twice in a row, once for 5.07 and the second one by a mistake but what do you think is the second one with almost 0

[exotic igloo]

When you claim SLP, it claims both pools

So just claim the SLP one

I made that mistake too my first time ahha dont worry

Just claim SLP from now on and dont claim before you add to your stake

[silk meteor]

I see thanks again for your help! 👍

[junior shuttle]

yeah dont worry, i also have two rewards of like .0002-3ish 🤣

[silk meteor]

Good to know I wasn’t the only one to boneheaded mistakes! But when ILV moons to 6 figures those will pay for gas 😂

[glass carbon]

I believe it should yes. If not metamask is the recommended wallet service

[unique grail]

Awesome, I have no sleep yet but I'm getting hyped and excited. Thank you for the kind responses, now i can plan ahead my journey to illuvium especially on official launch. Thanks again. 🤩

[glass carbon]

glad to have you aboard!

[bold fiber]

Hey people, noob question if anyone want´s to answer how do i buy ILV and is it better to stake on ILV or ILV/ETH?

[mental tangle]

Buy on sushi swap

And your second question is personal 🤷‍♂️
I have a little in both pools

Better is subjective.
LP has higher APY but Also IL risk.
$ILV is lower apy /low risk

@bold fiber

[kind loom]

LP APY still over 600%, I thought it would go down faster.

[mental tangle]

Very happy it's not :D

Shhhhh tell no one 😘

[bold fiber]

Thank you, why does it have more risk?

[mental tangle]

Impermanent loss.
I'm not great at explaining it. YouTube is better

But essentially due to the fluctuations of ILV/eth
You may end up with less ilv than you put in the pool.
Which if it skyrockets you may lose some %gain

[kind loom]

I recall seeing it at 5XX% and it got back above 600% even if more people staked in it.

[kind loom]

Really happy as well as I have a small bag in it.

[bold fiber]

don´t know what that is so i have to do some research but normally i prefer lower risk

[mental tangle]

Edited above

[bold fiber]

thank you, appreciate it, gonna buy some ILV when my pay day comes, did some research and this project seems fire

[hard spear]

what do you get for staking ILV?

[mental tangle]

Hot hot 🔥🔥🔥

[mental tangle]

More ILV or you can claim sILV

[hard spear]

hmm, alright

what does sILV do?

in game currency?

[kind loom]

Yep

[hard spear]

will have to read more about it

got it

[bold fiber]

The Bulls collab brought me here really glad it did dind´t know about this before

[mental tangle]

sILV is in game currency you can use in place of ETH if you desiree. ETH/sILV will fuel most in game txns

[hard spear]

got it

nice

[mental tangle]

https://docs.illuvium.io/

[hard spear]

I saw another game that claimed p2p trading with no gas fees

[mental tangle]

Great info in there. Also #🚰〕leaks

[kind loom]

Also when you have ILV staked, you will earn revenue distributions once the game is out

[hard spear]

neato

like what kind of revnue

in game revenue

[mental tangle]

There's a lot to take in.
It's pretty sweet

[hard spear]

yeah

pretty neat

[mental tangle]

No. When people buy things in game ILV holders receive a portion.

Essentially

[bold fiber]

yes i saw something about this like we win a percentage of the revenue of Illivium games pretty sweet

Big brains in here

[mental tangle]

It's all in the white paper I linked

Tokenomics are 🔥

[kind loom]

Also, they are not locked, so you can do whatever you want with it.

[hard spear]

oh that was a question I had

is it better to stake in the main pools or the other pool

the main pool locks tokens for 12 montsh?

[mental tangle]

The rev dis?
Yeah that's available right away. Once it's live anyway

[kind loom]

You can stay flexible on the main pool.

[mental tangle]

You have a choice to lock or keep it in flexible pool

[kind loom]

With a lower APY

[hard spear]

So lock your ILV and get a higher yield %

got it

and if you stake long enough you get profit sharing from revenues?

[mental tangle]

Yes. Up to 2xweight if you lock for a year

[mental tangle]

I believe it's any stakers....
Would have to check

[polar apex]

i think it doesnt matter if ur staked flex or long term lock

you will still get the revenues

[hard spear]

oh but the more you stake, the more revenue?

[kind loom]

If you lock, you will have more weight for the revenue.

[hard spear]

wonder how much the p2e rewards are going to be

[mental tangle]

Honestly. I'm never selling this(NFA)
I'm 100% locked for a year. Mostly because I am a small fry and I want to maximize my gains though.
Nothing wrong with locking one batch for say 6 months and having it ready for launch 🤔🤔🤔

[polar apex]

it really depends how the revdis works

if it works well and the game is successful, i see no reason to ever sell it

[mental tangle]

If I'm generating.... Say $5 a coin/month from rev dis....

Relatively conservative IMO.

Not a chance I'm selling.

[kind loom]

Same

[hard spear]

seems like a small roi for the initial investment

[mental tangle]

Hell even ultra conservative $2/token/mo
Is pretty good

[kind loom]

And if Rah is right, then the IlluviYacht will be coming pretty fast.

[mental tangle]

Is it though?
Because look at market cap.
We are tiny.
There's soooo much room to grow. Even if it's just to hold ILV and the rev dis be damned

Have you read that they want to do multiple games over time. All run with ILV?

[kind loom]

Also the movie😎

[mental tangle]

😂

[hard spear]

sounds like 0x games

which didn't make it

lost a lot of $$

also yes 5$/mo for 140$ is a small roi

not saying it's not worth it to some.

[polar apex]

how is 5$/month for 140 a small ROI

[kind loom]

Even without counting the RevDis, I'm pretty happy since my average buy is pretty low. Just waiting for it to reach 1k$

[polar apex]

thats a 42% dividend yield

independent of your staking yield

[hard spear]

hmm

still seems low

[kind loom]

And that's conservative

[polar apex]

what exactly are you buying that has a lot better yield?

[hard spear]

options

[polar apex]

cause i also want in

lol

[hard spear]

I make like 40-120% in 15 minutes sometimes

[polar apex]

yeah but you also can get liquidated

its not really comparable

[hard spear]

eh

[polar apex]

if you're taking leverage

[kind loom]

We don't know how much it would be. It could be 20$/mo per token as well.

[hard spear]

yeah true

[polar apex]

that would be a bit absurd and i doubt it

[hard spear]

still seems decent tho

[polar apex]

20/month lol

[hard spear]

for the staking aspect

does it compound?

[polar apex]

yes

[hard spear]

like auto stake

[polar apex]

no

[hard spear]

nice

[polar apex]

you need to claim it

[hard spear]

ah got it

[polar apex]

before it starts compounding

[hard spear]

then restake the claimed

[polar apex]

it restakes it for you automatically

but you have to manually claim

[hard spear]

oh

every 12 months?

[junior shuttle]

2.25 - 2.27 per token if we take blizz annual revenue

[polar apex]

the rewards are generated continuously

[junior shuttle]

per token per month

[kind loom]

Maybe within the first year, but when there is the 2nd title, sounds really possible to me.

[junior shuttle]

and that is also

all 10 mil tokens

so will be much higher

[kind loom]

Thought it would be higher than that 😅

[junior shuttle]

that is the lowest it can get too

it will likely be higher

that math was with full 10 mil unlocked

[kind loom]

Yea, maybe we can say 5 mil, I think it would be realistic.

[candid plover]

Probably a little less not everyone will stake and especially lock

[junior shuttle]

that too

plus the amount burned

we wont know

[kind loom]

Yea that's true

[junior shuttle]

so that is absolute floor

[candid plover]

The last time I checked we were about 50% staked currently

Not sure about the lock

[polar apex]

most werent locked long term i think

someone posted a chart on it

[mental tangle]

Whenever you want

[polar apex]

a while back

[kind loom]

Someone had a graph with the lock times, and I think the majority were unlocked. I don't know if it was accurate.

[polar apex]

yeah it makes sense from a risk perspective

as more and more milestones are passed, i expect more people to have the confidence to lock longer

[mental tangle]

You can claim accumulated ILV as often or infrequently as you like. Just pay gas

[polar apex]

while the early faithful will be able to reap the fruits of that faith from the beginning

[sonic wolf]

https://tenor.com/view/zombie-land-comedy-crying-upset-sad-gif-3457380

My IL

[ruby wing]

IL is brutal rn

I wish that I went all in single

[sonic wolf]

lost almost 1000 ILV

[ruby wing]

https://tenor.com/view/hehe-raccoon-ornery-gif-10625001

[sonic wolf]

like half of what I staked

[ruby wing]

Rip

[sonic wolf]

thats like 13.5 days of staking rewards

[ruby wing]

Rip

NGMI

[sonic wolf]

https://tenor.com/view/crying-man-money-tears-sad-rich-tears-gif-16511548

[ruby wing]

https://gfycat.com/practicalglamorousbaiji

[tacit mesa]

it was Ethlost.. charts showing only few locked til july 2022

[polar apex]

yeah for sure it’s a risk to lock til then

[ruby wing]

Locking is more risk but it is about faith in the team

[kind loom]

It's a risk if you want to sell for a profit, but not if you want to hold forever.

[ruby wing]

^^^^

Yup

My goal right now is to accumulate the most ILV possible

I dont care about price

I want the largest % of the DAO possible

[polar apex]

yes i mean it’s a matter of faith, and if you have it you should be rewarded for it if the project is successful

but just saying from an investor perspective u can understand why others may be cautious to do so lol

their loss

less yield

[ruby wing]

Yup

I love how people will be hesitant to lock, but will throw $ at shitcoins tho

crazy to me

[polar apex]

haha random speculation i guess

one of my buddies also in the finance sector said i am insane for investing here early too

[kind loom]

Yep, some people get rekt buying meme token, then a new one is coming out and they throw few thousands into it lol

[polar apex]

¯_(ツ)_/¯

he’s one of those btc /eth only people though

[kind loom]

This is high reward potential, if you have faith in the project, there is no risk at all. I can understand that if you are not part of this community, it may seems crazy.

[polar apex]

sadly most people don’t want to do the research

[polar apex]

let’s be honest there’s still a high risk involved, but it’s a fucking good risk at this juncture

[tacit mesa]

IL is only subjected to the ones you invested/staked anyway right? so discounting the rewards youll be getting, it could still be quite hefty.. but idk, i could be wrong..

[tacit mesa]

hes a mutual/index fund guy. hehe

[polar apex]

yes, nothing wrong with that

just everyone’s risk appetite and goals are different

[tacit mesa]

yeah.. cheers to those who want more APY.. 😀

[kind loom]

Yes, you are right. I could be throwing half of my pay into indexes but hey here I am 😅

[tacit mesa]

tried indeces.. took too long for me.. i cant be patient with that i suppose.. 👽 therevhas to be some activity to engage oneself.. haha

[polar apex]

haha prob safe to throw most of ur savings into that stuff, but safe won’t ever change your life

[kind loom]

If someone knows nothing about stocks and cryptos then it's a safe way to have safe gains. But none of us are like that 😅

[polar apex]

depends how much money you have really

[polar apex]

i invest thinking everything i put in could go to 0 for crypto

cause if ur thinking about walking away with at least something, u will probably get wrecked during the downside volatility

wonder how many sold ilv when it fell to 80 a few days back

🤔

[kind loom]

You can look at the history of trades on Dextools, but I don't follow this much. I know some whales got out.

Probably something between 40-60K from 110 to 80$

I'm throwing numbers but I absolutely have no clue 😅

[sharp spear]

Again, why not both? Why not lock 50% of your ILV for 12 months for max returns, keep the other 50% staked but flexible, so you can sell if justified. I don't think an all or nothing strategy is the way to go, unless your sizing means gas costs are a major issue, e.g. under 1k USD or so.

[ruby wing]

Not saying multiple strats isnt good

I have no intention on selling anything other than my cost base

[sharp spear]

Wut? I would love to see that calculation. In any case, you are earning a lot of rewards in ILV, which are then claimed and staked in the ILV only pool (only option). This will certainly make up for IL through Sushi LPing, no? At 600% APR?

[sharp spear]

Everyone can formulate their own strategy, obviously. I'm just saying these discussions on staking, i.e. "Should I stake for 12 months, yes or no?" tend to neglect the 3rd option, which is "yes and no," by splitting your initial investment into two portions.

[ruby wing]

Thats fair

I just think people underestimate the power of the 2X weighting on the 12month lock. It all depends on how much you believe in the DAO.

[sharp spear]

I've been burned by locking my tokens for too long, not having more flexibility. So now I'm more cautious. Which is why, with ILV, I decided to stake half my investment long term, and the other half to have available should I need to sell.

And the portion I have to sell, I don't need to sell it all. If there is a huge run up, I could sell a portion of that, lock the rest, and then be done with it. Simple be free rolling long term with the project, etc. Point is you have that flexibility.

[wanton nova]

Hey question about Ilv rewards gained through staking sushi-Lp. The Ilv are locked for one year. Do they get staked in the normal Ilv staking pool with ~120 Apy?

[strong wharf]

yes

[manic spindle]

Is the APY not so much greater that IL is worth it even if your initial stack would go to 0 and you end up with 100% ETH (completely unrealistic ofc)? I cannot imagine, given the APY differences, that the 3-4x in staking rewards don't make up for any IL after a few months at the latest, but I could be wrong.

[ruby wing]

😏

[mystic seal]

Sorry guy s beginner's question

Is it better to stake ILV or SuShi LP

[regal marten]

There's no real better, it's just different risk profiles. SLP exposes you to impermanent loss. In short that means that the eth you put it is not guaranteed to some out 😅. Reading up on that is important before you go in. SLP also means you'll need to make more transactions, which also implies you need a bigger investment (money and time) to make it worth it.

ILV pool is lock and forget.

[mystic seal]

Got ittt thank uuu

[sonic wolf]

wbat calculation?

i just went to some app

it tells me i lost 1000 ilv

and gained some ETH in return

apy pool or something

[digital kindle]

Did you gain more from staking rewards?

[regal marten]

yes, about 4x at the moment.

[mental tangle]

Hey @frosty plover

Let's talk staking in here ❤️

[frosty plover]

ty sir

so does staking help fund the development of the game?

[mental tangle]

There's A LOT
I would read the Tokenomics section in the white paper:
https://docs.illuvium.io/whitepaper/tokenomics

[harsh matrix]

Please help! I have some eth on meta mask but when I want to stake I see 0.0 on my balance what should I do? To connect

[tall sky]

try buying ilv and staking that

just a guess though

[mental tangle]

Staking $ILV or LP
Will both generate returns in ILV for you to vest/compound. Optional locking for higher weight

In theory the team already has enough funds for a few years.

Staking is for the community to gain more ILV and distribute the governance token far and wide

[frosty plover]

i see. do we know a game release date yet?

[mental tangle]

Open beta December most likely.
Head over to #795444126421483520 for a chance @ closed beta *soon

There's also a lot more to know in general.
Highly recommend looking @ #🚰〕leaks scroll all the way up and enjoy

[frosty plover]

thanks man. appreciate you

[mental tangle]

Anytime man👍

[strong wharf]

you need to stake ILV , not ETH in the single staking pool

[harsh matrix]

Thank you

[strong wharf]

no prob fren

[astral zodiac]

If you claim sILV does it compound as well?

[strong wharf]

no

[astral zodiac]

Thank you!

[fresh moth]

Any news on XYZ flash pool?

[exotic igloo]

It is delayed

[fresh moth]

I should have just bought more ILV thought I could earn more from XYZ lol

[exotic igloo]

AXS will come first

[manic spindle]

Yeah, I've thrown my XYZ back into their DAO pool for now. Price is 50% down again so not gonna sell anyway 🙂

[short flare]

How on earth are we going to track price of ILV rewards? They're accruing continually. All my research suggests I will have to pay income tax on point of receipt (EVEN though they're locked, inaccessible and unclaimed). At the very least I'm going to have to track the amount of reward at the end of each day and the daily price. Multiply this by the number of similar staking contracts I'm in.

[exotic igloo]

Yea price is horrible.

[sturdy scaffold]

Hey guys, I wanted to confirm if I did the staking right. I locked my ILV and my ILV balance in Trust Wallet turned to zero

[exotic igloo]

Yes

Cause you staked them

They are not in your wallet anymore

[exotic igloo]

You gotta do it manually if you want to comply with tax. Consult an accountant.

[manic spindle]

ILV rewards piling up have yet to receive any transacation that is tied to any of your wallets to my understanding. Personally, I am keeping track of $ILV price, Gas Fees and amount of $ILV whenever I claim, because that to my understanding would be the moment where I receive them. But depending on country and even on the individual employee checking those things, it's tricky. So NFA and you should consult a professional if in doubts.

[short flare]

Yeah this is it. I'm going to have to record all rewards to date at the ATH because I haven't been keeping track. AND, there is no guarantee that daily accounting will be sufficient, could be even smaller time intervals.

[short flare]

Thanks, yeah professional is the only way to go. Unfortunately, it would completely outweigh the value of any of my rewards, and any of my capital gains to date. At present, I'm completely stuck, I need to get out of the staking contract but the only possible way is to, move all other funds out of the wallet, and lose access to the wallet, which is impossible to prove. Ideally I could close/burn the wallet, but afaik this is not possible, the wallets are immutable.

[manic spindle]

Unfortunately, I'm not in the position to give any advice on that. Definitively get a professional to assist you to make sure whatever advice is given actually fits your individual situation.

Keeping my fingers crossed though that you find a quick and suitable solution without losing out on too much.

[short flare]

Yeah that's all good, I doubt whether professionals could even be sure on this. There is no clarity at this stage and it leaves every possibility open

Illuvium, I will give you my funds and the rewards, just let me out if the contract 😂

But they can't, it's a smart contract. I'm screwed.

I could be earning $0.001 daily on one token staking. Locked for two years. I have tied myself in to tracking this, daily, at a minimum, for two years

[manic spindle]

If you have locked your staked $ILV then there is no way to get out of it, yeah. If you staked flexibly without any locking period for a weight bonus, then you can withdraw under "Vesting".

[short flare]

Yep, locked that shit right up

[exotic igloo]

Please dont waste your time traking 1 cent rewards

[short flare]

But say a cent reward today is worth £10 tomorrow (hypothetical, unlikely verging on impossible), unless I track that today, how will I avoid being forced to record all daily rewards at the ATH? Hypothetical, no one knows. I need professional guidance etc. But the lesson of this is important.

[spice zinc]

Hey fellas just asking if im staking it as flexible on ILV then I don’t have to worry about the 1year vesting yea?

[manic spindle]

That is not correct. If you stake without locking then you can withdraw your deposited $ILV at any time. Whatever staking rewards you claim though will still be vested and thus locked for 12 months while being automatically staked in the ILV pool with a weight of 2.0

The decision to lock - and if so, for how long - only impacts the weighting of the staked tokens. It has no impact on the staking rewards claimed.

[atomic pier]

Hey, so as many others i like to use zapper.fi to keep track of my staked investments. However my. ilv/eth LP token staked on illuvium is not displaying. I've made a bug request. Please vote on it to help get it fixed.
https://zapper.canny.io/report-bugs/p/lp-tokens-staked-on-illuvium-not-displayed

[exotic igloo]

They are working on it

[potent flare]

I stacked some ILV, i want to stack more, but it tells me that first i need to withdraw rewards (which costs gas i think), is this the only way to stake more?

[manic spindle]

When staking additional ILV it is required to first claim prior piled up rewards, yes. It should still just be one transaction though to my knowledge.

[potent flare]

well, lets try it out

yes, it was one transaction though with a gas price of 2

[brisk surge]

Hi everyone, very excited about this game and community. I swapped some ETH for ILV today and am looking into staking. What are the steps I need to take to get into the SUSHI LP pool? I just used sushiswap for the first time today so still very noob. Sorry, I'm sure this has been asked before

[manic spindle]

Before considering to provide liquidity instead of plainly staking your ILV in the ILV only pool, I would suggest you read up on Impermanent Loss first: https://academy.binance.com/en/articles/impermanent-loss-explained

[brisk surge]

Thank you Stormi, I saw your post on impermanent loss and checked it out.

[manic spindle]

If you still want to go for the LP pool then, then you need to provide ETH and ILV in the same amount ($ value) to get SLP tokens on Sushi. And those SLP tokens you take to the ILV staking site and stake. The Sushi LP can be found here: https://app.sushi.com/add/ETH/0x767FE9EDC9E0dF98E07454847909b5E959D7ca0E

[brisk surge]

Thank you

👍

[pulsar tulip]

Hi guys just stack my ilu, how often will I claim rewards and is there gas’s fee involved to claim

[manic spindle]

Rewards pile up with every block (~13-15s). You need to decide yourself when there are enough to justify the gas fees you'll have to pay at that time.

[pulsar tulip]

So I will not loss the reward if I dnt claim

[manic spindle]

No, you can wait until there are enough ILV as rewards so that you are willing to claim and pay the gas fees. Only at the time of claiming does the locking period of 12 months (in which those rewards are staked in the ILV pool with a weight of 2.0 for compounding effect) start though.

[pulsar tulip]

Thanks buddy

[brisk surge]

Successfully staking in the LP pool! very excite

[ruby wing]

Congrats

https://gfycat.com/possiblerealarrowworm

[manic spindle]

https://tenor.com/view/one-of-us-gif-11131756

[coral jackal]

I think I'm now rooting for 100% IL for my sushi tokens. That would make it an easy 3 year hold in the staking pool. And that would mean that ILV is soaring. And then tokens that I had in the pool initially will be far surpassed in number by my staking rewards. So bring on the IL.

Am I way off base on this?

[hidden field]

I also staking LP pool successfully!!! can't wait to play.

[manic spindle]

https://gfycat.com/scalyzigzagazurevasesponge

[fading nexus]

@manic spindle Maybe you know this, but I just claimed my slp rewards, but somehow it also claimed a shitty bit of an earlier claim that was generating yield worth only 0.13ilv, normally I would never claim that yield of 0.13, but now it did that. Did I do something wrong here?

[manic spindle]

When claiming rewards from the ETH/ILV pool it's always required to also claim the rewards from ILV pool. That has to do with calculations in the background, gas fees and whatnot. I don't remember the specifics from the top of my head but in general, claiming ILV rewards can be done individually. Claiming ILV/ETH rewards always claims both.

[fading nexus]

So, you are saying I create a lot of dust in my account by claiming?

[manic spindle]

To my understanding, yes. But I think @exotic igloo might be able to say more to that.

[queen horizon]

I ahve the same issue, it just is what it is

[fading nexus]

Hmm,... I dislike that a lot... after a year I might have dust combined worth more then 5 ilv, but not worth to claim individually..... Not a good sign imho.

[regal marten]

it should be breadcrumbs really, because if I understand correctly, it's the amount that accrues between the 2 transactions. you would need to be a massive whale to have that even be a meaningful amount.

[potent flare]

will that dust add up to each other when it gets "unlocked" because one of the reasons they are separated dust i suppose, is because they have different locking periods, even if only hours apart

[fading nexus]

When I claimed my slp rewards, it also claimed my rewards of an earlier claim worth 0.13ilv yieId. I don’t call it breadcrums and neither am I a massive whale. When I claim my slp rewards it shouldn’t claim my yield of an earlier claim, but just let it rest until I want to claim it when the time is right for me and the transaction fee.

[brisk surge]

Can you still use the token in-game if you don't stake it?

[exotic igloo]

You decide, dust with compounding or 2 more transactions every time to compound manually.

This is why it is made that way

We have been saying since the beginning

Claiming SLP rewards claims both pool rewards and cost double the transactions in fees.

[exotic igloo]

ILV not used in game.

[brisk surge]

Will a certain token be used in-game, or are the tokens separate from the game?

[exotic igloo]

ETH is the in game currency

[brisk surge]

ah cool

[exotic igloo]

You can use sILV for in game fees but not the marketplace

[brisk surge]

Gotcha, that makes sense. sILV was the liquidity pool?

[exotic igloo]

sILV is one of the options for the staking rewards

Either you claim your rewards as sILV or ILV

[brisk surge]

Alright, very good to know. Thanks for the super timely answer.

[fading nexus]

@exotic igloo claiming slp/or both pool rewards means: no yield on the earlier claimed yield, because it wil be dust unless you are a massive whale ...

[exotic igloo]

There is yield on all claimed ILV

Not sure what you mean by that

[fading nexus]

And those earlier claimed yield rewards generate big enough yield

[exotic igloo]

Are you talking about sILV dust in your wallet?

Or small ILV claims in your vesting page?

[fading nexus]

The second one

[exotic igloo]

Yea they get yield

It's totally normal

Over time by claiming SLP you will have more and more ILV in the single pool so it will starts to produce more and more also

[potent flare]

and will that dust add up to each other when they are unlocked in a year? Or will we be required to withdraw them separately with gas fees on each? @exotic igloo

[exotic igloo]

For now it is separately

They will look for an option to withdraw all unlocked token if available

[fading nexus]

They get yield yeah, but when I claimed my slp rewards of my initial investment, it also automatically claimed my yield of an earlier purchased claim that was only 0.13 ilv.

[exotic igloo]

Yes

This is normal

We have to deal with that to have compounding

#🥩〕staking message

[fading nexus]

I didn’t want to claim my yield on the earlier claim, just want to claim again on my original slp investment.

But that creates a lot of small dust amount that to collect them cost to much gas fee at current price don’t they?

[exotic igloo]

You can't collect them until 365 days later

A lot can change until then

ETH 2.0

Farm on L2

who knows right

[exotic igloo]

Read this please

[fading nexus]

I just read this, but it is still sour atm to see 0.13 ilv yield claimed which I would have wanted to let rest until it was worth more

[distant plaza]

What's the difference of ILV pool and sushi LP pool?

[exotic igloo]

https://medium.com/illuvium/28-everything-you-need-to-know-about-staking-ilv-6669594b2fac

[distant plaza]

so is ILV the flexible one?

[exotic igloo]

You can do flexible with both

Read the article everything is in there

[regal marten]

one tip I can give is to specify the same gas price for both transactions. usually they go through in the same block then, limiting the amount of dust.

[fading nexus]

@regal marten but I have to confirm them after each other, not in the same time, and metamask gave me different gwei for the fast transactions....

[pseudo crest]

Do we know what % of people did the 52 week lock? I didn't even flinch. An amazing project plus double the rewards? Easy decision! In it for the long haul

[ruby wing]

Facts

https://tenor.com/view/nftgaming-nftgame-nft-autobattler-rpg-gif-22458897

[red glen]

hey guys, noob here. I'm providing liquidity to the sushi lp and I selected it to be locked for 3 months. Now I see a small amount of ILV or sILV can be claimed. Is it worth it to claim it now or just wait?

[solar cedar]

Claim it weekly on Sundays provided the gas cost/claim value ratio isn't too low. Otherwise claim monthly maybe. Sundays statistically cheapest gas on Mainnet.

[red glen]

but if I claim ILV I can't withdraw, only after 12 months correct? would I be able to stake it at least?

[silk meteor]

It’s automatically staked to ILV pool and compounds

[red glen]

got it, thanks!

[mellow thorn]

🚀

[modern comet]

hello I want to ask, if I stake $ILV or ILV/ETH flexible can I claim the reward anytime? without canceling stake? will it go directly to my wallet?

[fiery spire]

You can claim anytime, but it costs gas (ETH) so do it when you see that it's worth it. Is does not cancel your stake, but your rewards will be automatically staked on the ILV pool with a lock of 12 months.

[full lagoon]

If i want to stake in ILV/ETH, i need both ETH and SLP right?

[spiral flame]

Is there a gass fee when unstaking? I want to convert my flexible to locked.

[sonic wolf]

https://tenor.com/view/pobrellorando-cry-dollar-cry-dolar-gif-18420872

my IL

[exotic igloo]

[mental tangle]

I've got 2 LPs @ 10 ILV each. So far I've claimed 9 back...... I've only been in for 2 weeks

[hard spear]

what's an LPs?

[gloomy gazelle]

He’s talking about a Sushi Liquidity Provider token.

SLP or LP for short

[gloomy gazelle]

Oh rahlord took it and pinned it early on. But it’s all good. Got lost down there at the bottom