🥩〕staking

[manic spindle]

Yes, it seems it has been a good idea to open that flash pool 🙂 There is no Axie staking live yet though, so lot's of tokens were ready to be used of course. Also #axs 🙂

[coarse harbor]

It's insane it was only a few M just a couple of hours ago. Some whale must have came along. Going to see if i can find the whale haha

Haha found him/her/they/it 😱

They'll be earning 3.5 ILV an hour (roughly)

[grim moth]

AXS flash pool is a good example of why it was the best decision of the DAO to not allow vested tokens to yield farm 🙂 no extreme whales like the above

[rocky fox]

that applies to the flash pool only or to the core one as well?

[grim moth]

Not sure if I understand your question; the VC and team can't yield farm their vested ILV tokens, that means core pools. If those VC's or the team have any AXS ofc they can farm it

[rocky fox]

glad I didn't bother with my 8 AXS 😄 😄

[grim moth]

the IL is hurting me lmao

[rocky fox]

I meant vested ILV still yields additional ILV on the core pool or?

[grim moth]

Your vested ILV that you earned through the core pools yes

but i was referring to the venture capital funds & team that have tokens locked to up to 2-3 years

those can't farm

which was initially the case, but the dao voted to change that

[rocky fox]

obviously lol, it was good enough they got it at 1-5 usd 😄

[grim moth]

Lol it sounds obvious, but it doesn't apply to many protocols out there

we're blessed over here

[rocky fox]

yeah I see people got power here :), That's rare

maybe something to consider is limit whales somehow to whale half the pool next time tho :D, like a max stake - max of say 100 AXS to stake, this way we get more people - less whales

[honest harness]

Where to stake axs??

[cerulean sierra]

https://staking.illuvium.io/staking/flash

[cerulean sierra]

@honest harness each time you stake, you can choose flexible or an amount of weeks to lock your token. The longer you lock the higher the rewwards.
The rewards you claim are locked for one day starting at the date you claimed them. (so if you claim rewards today, those rewards will unlock in 365 days)

[honest harness]

Got ya

Mininum amount??

[hexed lion]

no minimum amount, but there is fees, so i'd suggest not to invest 1/100th ILV at a time 😄

The rewards are locked for a year, so I guess I can't stake them right after claiming ?

[honest harness]

I think i need at least 400usd

Its ath anyways

Worrisome

[cerulean sierra]

if you claim, the awards are locked for one year, but they compound with your staked ILV

[honest harness]

I'll come back when ilv goes down a lil bit

Its nft afterall

[hexed lion]

So if I stack 10 ILV today, claim 1 ILV in a month, I'll have 11 ILV stacked and the +1 will participate in a snowball effect ? ❤️

[olive meteor]

i staked AXS yesterday. How long until I can get them out? There's no details about timing

[mint cave]

yep

[mint cave]

https://gfycat.com/dearjitterycopperhead

[manic spindle]

You can withdraw your AXS at any time under "vesting". The pool lasts 14d in total. Rewards need to be claimed manually and are then locked for 12 months and staked in the ILV pool themselves with a 2.0 weight. For more about the AXS flashpool please use #axs

[brazen magnet]

easy way to buy and convert?

[manic spindle]

By convert you mean getting ILV?

!buy

[woven ibex]

You can buy ILV on the main DEX here: https://app.sushi.com/swap?inputCurrency=ETH&outputCurrency=0x767fe9edc9e0df98e07454847909b5e959d7ca0e , or on the following CEX's

Gate.io (non US residents) https://www.gate.io/trade/ILV_USDT
Bitcoin.com

[glad saffron]

Can any one tell me the apy for the core pools? 🙈

[sonic wolf]

looks like someone pulled out from double pool

[river light]

price goes up vs eth, apr go up in that pool. last removal was 5 hours ago.

[polar apex]

IL killing us

in the LP pool

[brisk surge]

rip, huge pumps do that

[spiral flame]

still depends how much ilv is in your pool

[brisk surge]

had to buy more eth lmao not used to the gas fees lmao

are sILV claims compoundable? or only the ILV

[strong wharf]

only ILV

[brisk surge]

so no point in claiming periodically if you are interested in sILV

[digital kindle]

Does the ILV/ETH APY only take into account the number of ILV tokens or both ETH and ILV (i.e. the total value of the SLP)?

[exotic igloo]

No. Just wait until game

[potent flare]

what is the SLP APY calculation based on? It increased 30%

[drowsy wigeon]

weird question. can one technically make a profit without actually playing the game by just staking ILV ?

[brisk surge]

ofc

you can make a profit by only holding ilv, not staking, as long as ilv price goes up

[prisma juniper]

you can even just buy ILV and do nothing. just let it appreciate

[brisk surge]

with staking that possibility of profit increases as you gain more ilv

[drowsy wigeon]

for sure. thanks. welp off to buy more ilv 💵

[rocky fox]

Not really, considering we're not even missing out that much, we'll still be getting 5x more ILV rewards as the other pool, so theoretically even if it goes up significantly and we have impermanent loss, we'll still have much more ILV which will be high priced, or am I missing smth?

[polar apex]

well i put an equal amount into ILV only pool and LP, the LP has underperformed around 10% already

the yields have not been nearly enough

to make up for it (Yet)

but we'll see

[rocky fox]

When did you put into the pools?

[brisk surge]

That's odd. Really?

[polar apex]

i want to say a week ago?

[rocky fox]

Yeah that's why, the long-term should be shinier tho

[polar apex]

also i flex staked the LP

[rocky fox]

Unless it only goes up for a year.. Which I highly doubt lol

[polar apex]

instead of 1 year lock

[brisk surge]

Oh that's why

[polar apex]

which is half the yield

[brisk surge]

Yeah, the LP would be outperforming at 2x

[polar apex]

yeah i think 52 week is the way to go

[rocky fox]

I'm on the 600% apy hahah, the 300% might not be so shiny

[polar apex]

but frankly i put a lot of my ETH in, wanted to keep some flexibility

if ILV started mooning hard i'd pull it out and switch all to ILV

[brisk surge]

If your single stake is locked it's gonna do better than your LP if you put half in both

[polar apex]

yeah single stake is locked

so its not a fair comparison you're right

[granite hazel]

I suggest to add timer for locked coins

[brisk surge]

yh

Flexible is good for reasons too. I'll have some unlocking end of August, I may just lock it all back up. Too good, this project

[rocky fox]

These are massive APYs, if the token becomes truly successful with utilities etc. We'll be very glad we did this 😂

[brisk surge]

Only bad scenario is no game or development when staking unlocks from day 0

Maybe some other bad scenarios. But that's a day to look out for

[polar apex]

or if revdis doesnt work as promised

[rocky fox]

The game will start distributing ILV only by the ingame income then or?

[polar apex]

or if the game is disappointing relative to the leaks

[rocky fox]

As long as the game is fine, the token will be fine, we're taking a not so small leap of faith but that's why our potential profits are also huge

[polar apex]

yep

i mean i dont want to be like those guys saying 0 risk, guaranteed moon

cause it just makes us look like scammers

[rocky fox]

Idgaf about profits tbh i just want to have enough to play freely hahah

[polar apex]

but i think its a really smart bet

[brisk surge]

It's very business

[quasi kindle]

can you stake haf ILV into 12months and half into 1 month?

[brisk surge]

Yeah

[quasi kindle]

is that the smart move you think?

[brisk surge]

yh

it is diversification so it is a good option

up to you tho

i locked mine for 12 months

[rocky fox]

Everything is possible so no one knows what's the smart move 😂

Time will tell

[glad saffron]

Ty my man ;)

[sonic wolf]

lol I am still in it

my pullout level is 200$

[coarse harbor]

Mines 3 seconds 🤣

[brisk surge]

damn that's quite long

[glad sleet]

https://tenor.com/view/nick-miller-new-girl-jake-johnson-ew-no-gif-16761984

[rancid shale]

Noob question..

Where can i stake ILV?

It's not yet listed on binance..

[ruby wing]

Buy from Sushi, stake on website through the staking tab

🙂

[rancid shale]

Thanks

[potent flare]

so in SLP, i just staked the initial value i got from imputing eth+ilv, and thats it? I do not need to collect anything from now on? I do not see anything being added on sushiswap pool option or anywhere else (besides the rewards ofc)

[coarse harbor]

Just worked out my current IL from staking in the Sushi LP between 20/7 & now.

• +3.4 ETH, -43.57 ILV compared to holding.
• Net loss of -$1,650 USD compared to holding.
• Though in that time i gained +53 ILV in staking rewards.

In total at current prices ($178.96 ILV) I'm up $7,834 USD in unrealized profits.

Might help anyone who is considering the Sushi Pool.

[fiery spire]

What did you use to make the calculations?

Where did you you get those ETH and ILV values?

[coarse harbor]

My own math + using the analytics page of sushi

[fiery spire]

🤔

Ok I'll try that

What's the link of the analytics page? Sushiswap.vision?

[coarse harbor]

I've kept a log of every transaction when LPing in a spreadsheet

• use this page - https://analytics.sushi.com/pairs/0x6a091a3406e0073c3cd6340122143009adac0eda

[fiery spire]

Ok thanks. I guess I will need to check my past transactions, because I didn't took notes of every LPing I did 😅

[mighty rover]

How does a validator like me validate a transaction in PoS if I stake my ILV?

In PoW I know that large computing power is needed to solve a mathematical problem by brute force. What about PoS?

[coarse harbor]

You're not a validator

[ruby wing]

It is related to liquidity providing, not validation

[polar apex]

yikes

yeah that sounds consistent with what i got too

only u have more than me

[mighty rover]

But if I'm staking, am I not a node that validates transaction?

New to defi here, sorry for the ignorance.

Just tried to read a bunch of simplified articles and videos.

Still having a hard time grasping how staking works.

[coarse harbor]

You are providing liquiditiy, nothing to do with PoS
You are providing coins to a pool where people can buy and sell into that pool.

[fiery spire]

One thing is being a validator for Ethereum PoS

[polar apex]

covey do we get the fees from LP

or only staking rewards

[fiery spire]

This is different, although they're using the same term, staking

[polar apex]

if the SLP is staked

[mighty rover]

Oh I see.

[mighty rover]

Oh same term that is referring to two different things. Now I get why I'm confused.

What's another term for staking in Illuvium's context? Is it liquidity farming?

[coarse harbor]

Fee's are including in those figures, yes you get them. Though due to the price moment and massive buying pressure on ILV, the pool begins to get one sided.
In less the 24 hours the ILV side of the Sushi pool has dropped from 212K to 208K while the ETH side has grown.

[polar apex]

yeah makes sense, really skyrocketed recently

[coarse harbor]

Correct

[coarse harbor]

Yea i'm stoked, close to 6K USD a week currently. Although i know I can't exactly realize my profits.

[mighty rover]

Phew okay time to read about liquidity farming. That aside, if we're talking about PoS for ETH, does this mean that our laptop/PC has to be constantly online so that we can validate some transaction when we are chosen?

[eager rover]

Do we actually receive fees when we stake our SLP to ILV website ?

I always thought the fees go to the contract we staked it to 2

[coarse harbor]

Yep
Also if you are staking with the Sushi Pool look up Impermanent Loss, you need to understand that thoroughly. @mighty rover

[eager rover]

my SLP has stayed the same since July

[polar apex]

if we do actually moon, you will be absolutely stacked

[ruby wing]

claim some as sILV closer to game and you will be blessed

[coarse harbor]

I'll layer out after launch, to a responsible level, went a little bit overboard with this investment as i got excited 😅

[coarse harbor]

That's my plan to 'realize' my profits 😉

[spiral flame]

its till July

[ruby wing]

haha

[polar apex]

would be pretty sick to basically play for 'free'

[coarse harbor]

Rewards should be dropping right now in the pools tbh. (Just started a new fortnight)

[polar apex]

2nd week ticked right

ah yeah fortnight

not week

[manic spindle]

3% every 2 weeks yeah

[fiery spire]

Or liquidity mining. You're providing liquidity to the ILV/ETH pool on SushiSwap, and in return you receive rewards in ILV from the Illuvium team. But for that, you need to stake (deposit on Illuvium website) the SLP tokens (SushiSwap Liquidity Provider) you receive from Sushiswap after providing liquidity to the mentioned pool.

[mighty rover]

Ooo. Okay, and when we validate transactions in PoW, it takes a long time because we are just using luck to get the right mathematical value to an equation. How is it different in PoS?

[polar apex]

not too noticeable at the moment

[mighty rover]

Okay I will.

[polar apex]

but ilv only pool definitely seeing yields drop fast

IL really scaring people off

[coarse harbor]

You're racing against every other hashing pool to solve the 'puzzle' first in PoW.

[eager rover]

meant june 30th

[fiery spire]

Don't think that question fits this channel...

[eager rover]

I am not sure how much the pool earned in fees so far but i'd imagine I see a slight increase in SLP

[coarse harbor]

That's due to more people staking in the single pool.

[mighty rover]

Okay I'll stop asking about it. Thanks for the liquidity farming/mining info. Time to read more thanks.

[manic spindle]

Yeah, I kinda regret a bit having gone 12 months ILV. I might be missing something but the way I see it, even if all LP ILV would go to 0, you'd still outperform ILV pool.

[eager rover]

so far it just looks like we didn't even earn 0.1 % yet

[coarse harbor]

No probs mate, if you're stuck just pm me or drop in on this server. It's my new lurking den

[spiral flame]

Should not be. Eth and ILV made a big jump since June 30

[coarse harbor]

Yea I panicked when i first realized i'm gonna lose a big % of ILV in that pool. Though soon realized I should outperform it in the long run.

[polar apex]

hmm, i think thats only if the yields stay high long enough for you to recoup ur ilv

i kinda did a dumb lock

just like you i locked 12m single pool

but i had flex LP

[fiery spire]

I'm an Eth2 validator myself and I would gladly answer your questions, but this is not the right channel for that

[eager rover]

@midnight geyser can you confirm ? Who is earning the SLP fees, the contract address or the people staking?

[coarse harbor]

I high amount is already stake (i think i worked it out to be 500k or close to it) so the pools should only really go down from the drop every fortnight (or drop in price)

[mighty rover]

Okay. I'll drop a DM if I'm stuck on something if that's fine by you.

[fiery spire]

Yes no problem

[polar apex]

yeah in a few months the yields will definitely be less mind boggling

than it is now

[manic spindle]

Well, ILV kept and will keep declining due to rewards being put there and LP being harder for newcomers to understand. LP Pool on the other hand has been keeping its 500-600+ pretty stable now for quite a while. Sure it will go down, but how should it suddenly plummet completely to punish you for any IL because rewards become so low? That would have to be some huge wallets joining the LP for that I think.

[polar apex]

yeah i think at current yields it will eventually pay for itself

[midnight geyser]

People staking

[polar apex]

oh really? any way we can see value accrued on that?

or is it not available unless you cash out

[eager rover]

Yeah were would the rewards go to ?

[midnight geyser]

Sushi contract automatically compound fees to SLP

[eager rover]

I assume at this point we AT LEAST received 0.1 % rewards back but dashboard is the same since June 30th

[exotic igloo]

It basically pump the price of the SLP token

[midnight geyser]

which means if you have x amount of SLP, it will be accruing the fees in the value that it represents in the contract

[brisk surge]

hm

[midnight geyser]

yes exactly

[polar apex]

ah thats helpful

so basically when cashing out the SLP token

[midnight geyser]

it's like your SLP tokens gain value over time, but not necessarily it will always be positive due to IL

[polar apex]

say 10 SLP = 2.5 eth + ilv equiv before

[coarse harbor]

Most of the circulating supply is already staked, so even if the rest joins it, it shouldn't effect the APY too much.

[eager rover]

O I see, so you don't earn MORE SLP tokens

[polar apex]

when you cash out the SLP could be worth more in dollar value

[eager rover]

After suffering the IL become permanent L

[manic spindle]

That's why I'm desperately hoping for more than a week now that GoG finally mints my Guild so I can flip it for profit and throw something at LP before ILV costs 300+ 🙂

[gloomy gazelle]

Except SLP tokens aren’t ILV only. But yeah I think it will remain pretty great.

[coarse harbor]

Clocks ticking, we might see a little lul in price between now and when the game demo comes out, I'll cross my fingers for ya!

[polar apex]

i wish there was a way to combine the various rewards

i've messed up a few times already, adding tranches to staking forcing me to claim tiny amounts of ILV

[coarse harbor]

Hmm not sure i quite understand what you're saying here?

[coarse harbor]

Haha i was doing the same when i first started. Spending $20 gas for $10 ILV haha

[soft snow]

What's the best pool for me ILV or SLP if I'm planning to hold for a long time ?

[polar apex]

hopefully the ILV dust is worth claiming sometime down the line lol

[twilit pawn]

As we linking metamask wallet for staking, Can I link metamask wallet with trezor before staking ?

[polar apex]

read up on impermanent loss if you are considering SLP

most of us have lost money on SLP lately

[soft snow]

Good to know

[gloomy gazelle]

The only ILV off the market is the stuff locked in ILV only pool. The TVL in the SLP pool is not only ILV. I think there’s the ETH value of it as well. There will always be more SLP tokens that people get by providing liquidity in the ilv/eth pool. Then those can get staked. So all the IL leads to a loop maintaining ILV liquidity and ILV on the market. Basically I think there’s gonna be a good percentage of the ILV staying on the market.

[coarse harbor]

ILV single pool is just easier mate

[gloomy gazelle]

Yeah so much easier.

[coarse harbor]

Ahh yea i see what you mean, I definitely didn't think of it like that. Cheers for explaining that mate. 👌

[soft snow]

Thank you, I choosed ILV 👍

[coarse harbor]

No problem brother

[coral jackal]

Nothing to do but sit back and let it do it's thing. Simple.

[mental tangle]

ILV will show us the way

[coarse harbor]

Would love gas to drop so i can claim and stake my tokens i bought last night -.-

[hidden epoch]

You can do both in 1 tx if you stake more

[coarse harbor]

Yea it does it automatically though it's still doing the 2 transactions. Hence why the gas fee is 'fairly' exxy even when the gas cost is low....hope that makes sense

[waxen vigil]

I tried to get the liquidity token and I confirmed everything but after the transaction finished I still have the same amount of eth and ilv in my metamask and didn't get any slp.

[coarse harbor]

Go to the 'Activity' section of MetaMask and see if the transaction is still pending or cancelled.

[waxen vigil]

https://etherscan.io/tx/0xe1bb625bac0013685cef62a05c2306f6fd1914d38906234195d313de988ef9bb

[coarse harbor]

Also if it's you're first time providing liquidity, you only confirmed Sushi to use your tokens, you'll then need to actually provide liquidity

basically click it again.

Yea you only approved Sushi swap

[waxen vigil]

OK. Is it normal that the fees are higher than for the approval?

[coarse harbor]

Yep

Approval should be very minimal and providing liquidity is fairly costly, especially right now

Although it can get a lot worse

[fiery spire]

If you can wait for the weekend, usually the gas prices are lower

So you will pay less fees

[waxen vigil]

How can I add slp contract info to metamask so that it shows up?

[coarse harbor]

Go to "Add Token"

Depending on whether you're using MetaMask in your browser or on your phone.
You may need to click "Custom Token", then add these details:
Address: 0x767fe9edc9e0df98e07454847909b5e959d7ca0e
Symbol: ILV
Decimal: 18
Fill in those, hit 'Add Token'. You should now see your ILV balance

Ughh never mind, it should have given you the option to add it automatically?

[waxen vigil]

I already did that for ILV. But it's not showing sushi lp.

[coarse harbor]

2 secs

[exotic igloo]

0x6a091a3406e0073c3cd6340122143009adac0eda

[coarse harbor]

There ya go ^^^
Use SLP as symbol and 18 as decimal

[waxen vigil]

Thanks. It wasn't needed because somehow the token got added automatically.

[livid charm]

If I was to stake ILV for 1 year, could I take out sILV whenever I wanted before that lockup period ends?

[manic spindle]

Yes. Locking period of your deposit has nothing to do with your rewards

You claim rewards manually. If you claim ILV = 12 months vesting period. If you claim sILV = unlocked right away.

[livid charm]

Awesome thanks

[manic spindle]

sILV has no use right now though. Only when the game is out and MAAAYBE for pre-sale purchaes of land for the mini-game or something.

[livid charm]

Yeah I was thinking if staking now to get silv I buy shards or new areas whatever is available on release

[unique grail]

Hi, is it ok to let a small amount of iLV in Sushiswap stay there for a while then add more (when I have more ETH to swap for iLV) before staking on either Flexible or Locked?

[manic spindle]

You can of course wait with staking until you feel it is enough to justify gas costs for the deposit. But it shouldn't sit on Sushi then but whatever you bought should be in your wallet already 🙂

[unique grail]

Ohhhhh where can i see my tiny amounts of iLV, is it on the Staking Page? I'm only seeing it when i toggle to Sushiswap.

[manic spindle]

What wallet do you use? Metamask? You should see it there, Otherwise you can also see your tokens if you look for you wallet address on https://etherscan.io/

[unique grail]

Yes it is Metamask. Short story, i converted some of my bTc to eth from my mining platform. After a single trial and error i was able to send a small test amount to Metamask, but since gas fee is high on swapping eth to iLV i followed another amount of ETH. And everything goes through from Mining Platform to Metamask to Sushi.

[manic spindle]

Click on the Metamask symbol top right where contract is: https://www.coingecko.com/en/coins/illuvium

If that doesn't work. Copy the contract adress and add the token manually to your metamask.

[unique grail]

THere on those pictures i'm still thinking on what to do if i should choose flexible and wanted to withdraw it when game launch either this november or December 😋

or add more iLVs from the ETHs coming from my mining platform before I stake.

[thick kraken]

Hello, can I ask what the difference between the two is? What's the benefit of staking in the first one if Sushi APY is 5x?

Is it because of added risk/fees of going the sushi route?

[manic spindle]

That's the difference yeah. What route is right for you, is something only you can decide.

If you have no idea about it, you should read up on IL first though: https://academy.binance.com/en/articles/impermanent-loss-explained

[unique grail]

In the Unlocked stake you can withdraw it anytime right? While on the Locked stake depending on how long lets say 22 weeks, it will be locked for 22 weeks and after 22 weeks you can withdraw it is that correct?

[kind loom]

That is correct

But your rewards are always locked for 1 year

[manic spindle]

If claimed as ILV. sILV are unlocked right away.

[kind loom]

Except if you want sILV

[unique grail]

Thank you so much, and then lets say in the unlocked i withdraw it after a month, then i can add more iLV then stake it again for a bit longer period until the game launches??

[manic spindle]

Yes, but you can also keep whatever you staked in there and just stake more which becomes its own batch then.

If you want to lock something that was unlocked before though, you need to unstake and restake.

[unique grail]

Ohhh yeah i forgot after i saw some people with lots of stakes. Good thing you brought it up as an additional option for me. 😁

[unique grail]

Thank you so much guys you've taken away all my doubts and stress. I can now sleep well with no stress or what so ever in mind. I really appreciate all your help here now i can be more help to my friends who wanted to play and be involved in the world of illuvium 😍

[thick kraken]

Thank you Stormi

In the link you sent, I read this

[unique grail]

Thank you so much also I can now be at ease and go ahead with staking until the game launch. I appreciate it 😋

[thick kraken]

How did it become 5 ETH and 2000 DAI? Is it because in the example, ETH went from 100 DAI to 400 DAI, so there's a 4x multiplier, that ETH and DAI decreased/increased by square root of 4?

[austere pond]

the math my brain

[thick kraken]

So if ETH went to 900 DAI instead, then the new pool would be 3.333 ETH and 3000 DAI am I doing the math correctly?

Posting the full text for everyone's convenience

[reef epoch]

Will it ever be for mobile

[unique grail]

One last Question before I crashed on my bed. Whats the difference between Staking and Vesting because if i click any one of them they give me same options.

[manic spindle]

Under staking, you deposit new stuff into the pools. Under vesting you can see what you deposited and what you claimed as rewards and can withdraw the batches that are not locked (anymore).

[manic spindle]

PC first, Mobile later - most likely 2022.

[manic spindle]

This could maybe help you: https://dailydefi.org/tools/impermanent-loss-calculator/

[unique grail]

I see, but in Flexible staking you can still withdraw anytime and in Locked staking depending on the length of time you set is your withdrawal time?

[manic spindle]

If you don't decide on a locking period yourself, then you can always withdraw whatever you staked yourself.

[unique grail]

Alright now I understand. As my first attempt i'll just go ahead with the Flexible Stake, then when I have enough ETh for iLV I will try the Vesting Option. 😁

[thick kraken]

Thank you Stormi, wish I can find how the calculator works but this is perfect

That's why it's 500 APY

Can I ask, did you combine ILV only and ILV/ETH staking pools?

[manic spindle]

What do you mean by combine? How I personally staked?

[thick kraken]

Yes

Someone pmed me and we discussed a bit and he mentioned he's all in sushi LP

[manic spindle]

That's up to everyone and their financial strategy. I'm currently all in ILV but I am trying to liquidate some things on other projects to put something into LP

[thick kraken]

Good one, and I assume you went with the locked option as well?

[manic spindle]

12 months locked without a doubt. I'm here for the long run and to collect five figure RevDis each month with multiple games out in 2-3 years 🙂

[thick kraken]

Thank you Stormi, really appreciate you sharing your thoughts

With my bias of Illuvium getting very popular and increasing in price more rapidly than ETH, Impermanent Loss can easily reach 25% and even 50%++

[manic spindle]

In that case, you need to decide if you think that the increase in ILV rewards due to higher APY would outweigh the losses from IL. And that is exactly the realm of financial strategy and thus something were I cannot give you financial advice 🙂

[thick kraken]

Definitely, but would provide for a good discussion nonetheless. For which I am grateful

Ill run some models, hard to give this a clear thought as ILV prices keep reaching ATH and I get FOMOed

[manic spindle]

I already told you that I personally am trying to get some money into the LP at this point in time. If that works out for me in the long run, we'll see. First I need to get some ETH before ILV prices skyrocket even more 🙂

[thick kraken]

But better with a good plan than apeing stake now now now

[brisk surge]

NFA, but one thing that mitigates impermanent loss for me is that the APY will generate 100% of the ILV that I put into the liquidity pool in 1-2 months time.

[thick kraken]

Same thoughts as well, can easily cover IP

IL rather

[brisk surge]

So even if I lost ALL ILV in the liquidity pool, the APY gives it back in a short period of time

but I personally do both ILV pool and the liquidity pool

[thick kraken]

Agree, max impermanent loss is 99.99% but larger possibility to land at 20 to 50% within a 6-12month period

Which you can recover in a few months of locked sushi stake

[brisk surge]

yea, I was just throwing out the absolute worse case which isn't likely at all like you said

[thick kraken]

So I staked additional sushi LP and it asked me to claim the reward first (which is less than the gas fee lol). Is this 0.19 ILV reward automatically included in the stake and is giving me compounding returns now?

nevermind, found the answer. It is! ❤️

[brisk surge]

Nice

[brazen magnet]

whats the best way to buy ilv?

[burnt hill]

to have sushi LP is eth with ilv right ?

or sushi tokens with ilv ?

[onyx isle]

You can’t unstake once locked up ay ?

[brisk surge]

depends

you can put it into flexible

[vast elk]

Locked for 52 weeks ALL-IN!!!

[halcyon forge]

what are the rewards for staking?

[ruby wing]

look at the website for yield

[vast elk]

More ILV

[clever adder]

where are these pools?

[ruby wing]

https://staking.illuvium.io/

check out the core pools

under the staking tab

[clever adder]

thanks

[ruby wing]

Gotchu mate

[mental tangle]

https://www.illuvium.io/staking-faq

[merry ridge]

Wow 195$ what just happened?

[gloomy gazelle]

it's been all day

[thick kraken]

I have a question - APY on staking is based on USD right?

So would that mean that it doesn't matter what the price of ILV is?

[gloomy gazelle]

depends on the pool

the ILV only pool is gonna be purely ILV for ILV

[thick kraken]

How would it be for the ILV vs the ILV/ETH poool?

[gloomy gazelle]

the ILV/ETH pool has both ETH and ILV value in it

so as ILV pumps your reward APY would go up

[thick kraken]

Got it, so take me for example, I invested all in ILV/ETH sushi pool. Is it correct to say that the rewards i get from the stake, the rate that is, is based on the # of ILV and ETH I invested? Not the USD

So theoretically, I earn a reward rate of perhaps .002 ILV per minute, and maybe .000002 ETH per minute from the Sushi Pool. Will it stay the same regardless of ILV and ETH price?

Or is that how it is supposed to work? Would love to read more about it if there's content about it too

[drifting shell]

Have you read the medium posts?

[gloomy gazelle]

You will not receive ETH by staking on the illuvium site. But the rate which you will be earning depends not on your value so much as your percentage of the total value in the pool

[thick kraken]

Got it so would you know where it depends on?

[gloomy gazelle]

your percentage of the total value in the pool

and the amount of ILV being distributed each fortnight

its in the tokenomics post on medium

[thick kraken]

That makes sense now

Thank you

[unborn talon]

Staking question: Since sILV has almost 6x the APY of ILV, is there any reason not to stake into sILV over ILV? Or am I missing something?

[gloomy gazelle]

you are missing something

SLP is not sILV

Sushi Liquidity Provider token pool is what that represents

[unborn talon]

Ohhhhh I see

[gloomy gazelle]

its for those that provide ETH/ILV liquidity on sushi

[unborn talon]

Entirely my mistake

[gloomy gazelle]

sILV is a token that you can claim from your earned rewards. It can only be used in game. Like a gift certificate that is pegged to ILV value

[gloomy gazelle]

No problem

[unborn talon]

Yeah, I was mixing the SLP and sILV

I appreciate the clarification

[gloomy gazelle]

so you good then...?

[unborn talon]

Yep yep, appreciate the help

[gloomy gazelle]

wow an easy one. Thanks

[unborn talon]

Hahaha just a derp moment on my end, I still greatly appreciate the help though

[balmy ibex]

i love stake

[gloomy gazelle]

https://tenor.com/view/steak-did-you-say-steak-say-steak-hungry-food-gif-5015606

[balmy ibex]

Pelican steak

[jaunty cairn]

Got a nice 52 week lock on the SLP loving it so far

[gloomy gazelle]

https://tenor.com/view/hold-on-wait-a-minute-somethings-aint-right-hold-up-somethings-wrong-here-gif-17361118

[waxen vigil]

Will the rewarded ILV also count towards staking?

[gloomy gazelle]

yes once you claim it it will be vested and locked for 12 months earning at 2x weight

[waxen vigil]

Is there a cool down after claiming?

I mean before I can claim again

[gloomy gazelle]

ah no

but Each claim is a transaction with gas fees

and claiming rewards earned from the SLP pool will actually be 2 transactions. Since it will claim from the ILV only pool first and then from the SLP pool

[waxen vigil]

Other than making the gas fees lower relatively to the claimed amount, is there another benefit for waiting longer until claiming?

[gloomy gazelle]

just gas fees. But you'll need to pay for another transaction for each separate claimed amount.

[waxen vigil]

So it's a question of balancing gas fees vs the benefit of 2x weight.

[gloomy gazelle]

it also starts the timer on the unlock

[waxen vigil]

Right

[gloomy gazelle]

your rewards are not earning at all untill you claim them

basically if you can earn you gas fee with the amount you are claiming before you would claim next then its a good idea

[waxen vigil]

Got it. Thanks for clarifying.

[gloomy gazelle]

there is a calculator for that someone made that is pinned in here

[waxen vigil]

Found it. Will definitely use it.

[gloomy gazelle]

it lets you know how often to claim not the amount to claim

kind of tricky

[raw basin]

so ilv in the slp pool is only unlocked (after 12 months) once you claim it

also is the 2x occurs for all ilv earned throughout the 12 month lock up period?

[gloomy gazelle]

you choose how long to stake your SLP tokens for... all the rewards when claimed are locked for 12 months

[gloomy gazelle]

all ILV that is locked for 12 months earns at 2x weight

not sure thats what you meant though

[waxen edge]

ugh I wish ILV would stop pumping. How am I supposed to acquire more?! 🙂

[raw basin]

so if i locked my slp in for 12 months today, i would get double the ilv i put in after 365 days but then if my last claim was in 12 months time i wouldnt receive those rewards for a further 12 months?

[solar cedar]

yes, but rewards will be available to be unlocked staggered comparably with your 12 month locked claiming, over the period of the 12-24 month mark after.

[waxen vigil]

The calculator told me I should claim after 22.70 hours. That doesn't sound right.

[polar apex]

it could be right

[gloomy gazelle]

I agree. It doesn’t. Not sure what it’s doing. Generally 4-10 ilv is the amount most are claiming at right now

[polar apex]

really depends on a lot of variables

[gloomy gazelle]

Yeah could be cheap gas. Could be you’d be a whale

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

[polar apex]

your total stake, gas, expected ilv value in a year

all of these variables change by person and time

[night umbra]

Hi everyone, totally new here - and just found out about this game.

I just bought 1 ILV - what is the best thing to do with it?

[gloomy gazelle]

Yeah as ilv has pumped the value in claiming has increased as well

[polar apex]

stake it in the ilv only pool probably

[gloomy gazelle]

https://tenor.com/view/illuvium-illuviumio-ilv-yield-farming-gif-22225026

[night umbra]

oops I think I got kicked for posting the link

[waxen vigil]

I invested $5000. Not THAT big of an amount. The ILV I earn in those 22h will get eaten up by the gas fees. I'm not sure if I used the calculator correctly.

[night umbra]

what will happen if I stake my 1 ILV in the core pool - sorry new to staking

I invested like 40K in axies already but still learning

[polar apex]

that doesn’t sound right then

for that sum maybe claim every 1-3 weeks

[polar apex]

it accumulates interest

[night umbra]

so should I do a lot of weeks, flexible or low amount of time?

[polar apex]

are u here for long term investing or playing, or just looking to flip for profit

[night umbra]

me?

[polar apex]

yes

[night umbra]

Long term

[polar apex]

how long u lock depends on that

then u can lock max for double the rewards

[night umbra]

I'm a game developer myself, trying to get into this space a bit more haha

and If i buy more ILV later, can I add that to a different amount of time or would that be locked to the same amount I choose today

[polar apex]

the good thing about staking is u can either claim ur reward as ilv for more shares or silv to use in game

[waxen vigil]

yea but I double checked everything. 116% ILV APY. 650% Sushi APY. $5000 pool. $190 ILV price. $50 gas.

[polar apex]

u can add at a different amount of time

however u have to pay gas for separate transactions

[waxen vigil]

Oh I thought the time is the result.

[polar apex]

i was talking to h

[waxen vigil]

oops

[polar apex]

definitely don’t claim when it’s 50 bucks of gas haha

wait til weekend

i dunno which calculator ur using

[waxen vigil]

ilv compound calc (SUSHI)

[polar apex]

right

[night umbra]

got it thanks

[waxen vigil]

Maybe I have to get my number from the second tab?

[thorny iris]

I locked half my ETH/ILV stake and then did flexible with the other half.

Does anyone know how I unstake the flexible LP tokens?

Can't find it anywhere on the staking interface

[polar apex]

vesting

[night umbra]

@polar apex howmuch have you invested into this project if you don't mind me asking

[stoic cosmos]

is ILV in pancake swap yet?

[polar apex]

not too much, just a small fish compared to most on here

well compared to some on here not most

[night umbra]

I wonder if they will do any like Land drops or something similar to Axies

that's what I'm really interested in

I guess right now you can't buy any NFT's from them

just the token right

[polar apex]

some commemorative nfts are available

u can check #835823795880460288

but these are cosmetics or collectibles and won’t be giving you a head start in game

to maintain competitive integrity

there are some random giveaways now and then

[night umbra]

ah okay - will I be able to buy the Illuvials like axies or is it just something you have to gain in the game

like I mean, will they do a sale of them

(not sure if you know )

[polar apex]

u can buy them once game launches but only from other players

the revenue is then distributed to the dao

part of the attractiveness of investing in this project

[primal halo]

$50 gas for staking ??

[polar apex]

they aren’t doing any quick cash grabs like most other games in development

[night umbra]

yeah true

I mean, I am sad that I missed the "Land Chest Sale" in Axies... lol

So I'm trying to be ahead of the curve on those opportunities no

w

[mental tangle]

https://illuvium.io/staking-faq

[polar apex]

investment side i’d add more ilv for now, bet on a few limited nfts if ur interested in speculating on that front

[glacial fiber]

Does staking in the game give me any advantage in the game over someone who doesn’t?

[exotic igloo]

No

[polar apex]

it gives you the advantage of being able to claim sILV and use that instead of ETH for in game payments

if you want to look at it in that way

[primal halo]

whats the difference between these 2 stake options ? why is one significantly higher than the other one ?

one with over 600% apy and one with just 100% apy

[polar apex]

the higher one is for liquidity providers

you basically are providing a service for the illuvium community when you provide liquidity and lock it up

and you run the risk of impermanent loss

thats why it has higher yields to compensate for it

[primal halo]

oh, and the other one is you can choose to unstake it at anytime ?

[polar apex]

both can be unstaked at any time, it depends how long you want to lock it for

but less lock time = less rewards

[fair wharf]

So it is basically how much risk we take on as investors whether we provide liquidity or just stake the token?

[exotic igloo]

Exactly

[polar apex]

yes

[exotic igloo]

Single staking the token is free money

[polar apex]

for example i've lost like 600 by providing liquidity

vs holding single asset

but i've gained ILV in staking rewards

[primal halo]

so on the 600% yeild i need to put SUSHI token?

[polar apex]

no, you need to add liquidity to the pool on sushiswap

[primal halo]

oh okay

[polar apex]

then that token is deposited

[fair wharf]

What situations would cause you to lose money when you provide liquidity?

[polar apex]

not the SUSHI coin

[polar apex]

when the price changes rapidly. basically the liquidity provider pool will rebalance the assets to have an equivalent amount of ETH and ILV. if price changes rapidly for one of those currencies, you suffer what they call impermanent loss

[primal halo]

when providing liquidity, you'll need equal sushi and ILV right?

[polar apex]

equal ILV and ETH

not sushi

[primal halo]

oh

[mental tangle]

Equal value

[fair wharf]

Thank you for all this info! Very helpful 🙂

[polar apex]

you're welcome

[mental tangle]

So not 1 ILV/1 ETH
$1000ILV/$1000ETH

[primal halo]

have you tried staking on the on the first choice which yield 100% a month? how much is the fee?

[exotic igloo]

Soon

1000$ ILV 10 000$ ETH

[primal halo]

its 1 ILV/ 1 BTC

[exotic igloo]

APY is per year

[primal halo]

yeah sorry mb

[exotic igloo]

Staking SLP is double the gas fees

ILV only is more gas friendly

[polar apex]

yeah i got sticker shock

on the SLP gas fee

[exotic igloo]

Yea haha

I'm only claiming once a week now

[polar apex]

im prob waiting 2 weeks, but im a minnow compared to you haha

[thorny iris]

???? flexible is still locked?

[polar apex]

its not locked if flex, u can withdraw any time

right hand side should be a locked or withdraw button

[thorny iris]

I know. How do you withdraw?

[high breach]

how does impermanent loss occur?

[thorny iris]

I don't see "unstake" anywhere...

[exotic igloo]

In the vesting page

[mental tangle]

https://illuvium.io/staking-faq

[exotic igloo]

Google will have a better explanation hahah

To make sure you understand it

[polar apex]

its 'withdraw'

not unstake

[primal halo]

guys if i have $20 eth will that be enough for staking and unstaking ?

[high breach]

the explanation on that link above is not very good

[primal halo]

or do i need more?

[thorny iris]

Ah. Weird it's on the vesting page. Thought it would be on dashboard or staking. Thank you

[polar apex]

you're welcome. thats what i meant when i said vesting lol, probably shouldve been more specific

[exotic igloo]

It will probably be not enough

[primal halo]

how much do you think i'll need ?

[jaunty cairn]

I just went to stake more and the gas fee was $57 bucks... No thanks. I will wait to stake more

[exotic igloo]

You should always keep like 200$ of eth for trsnsactions

[uneven kayak]

Bought more ILV today for my 52 week steak. 🥩

[exotic igloo]

Lile staking claiming etc

[high breach]

Yeah I did a 52 week stake and I have no idea what the risks were

[uneven kayak]

The thing I love about providing this liquidity, is I'll take more ETH or ILV cause I like them both, I'm earning ILV on the side to replace any I lose, and it keeps my hands off the money until it gets where I'm betting it will! 😂

[primal halo]

also the APY will go lower as more people stake right?

[jaunty cairn]

Risks are the underlying security drops and you earn less. thats a bout it. amount of ILV will be the same but the value will decrease.. i dont see it as a problem since I plan on playing this game and see myself as a supporter of it by staking it

[high breach]

Okay cool thanks

[exotic igloo]

This is the way

[exotic igloo]

Yes

[high breach]

I got into crypto a couple years ago through gaming and have never bothered to stake or learn much about staking

[uneven kayak]

I see this being a top 3 next year. I wanna have skin in the game when they start collecting profits in game and rebuying the token

[high breach]

But ILV seems like the best opportunity for staking

[jaunty cairn]

not to mention the names behind it/their plan to keep it a sustainable ecosystem

[exotic igloo]

Facts

[polar apex]

yeah, still really early in the staking process, returns are sick at this point

[jaunty cairn]

consider it a blessing

[uneven kayak]

I love the idea of this becoming a name brand game studio that is using their token throughout all their games and sharing the profits with holders. That's just so cool to me. Imagine Blizzard with a token for profit sharing

[jaunty cairn]

Rahlord helped me figure out how to stake the SLP pool since I didnt understand it but I am happy I did after he helped me out

[cedar parrot]

How do you stake in this game

[jaunty cairn]

That is all I have been thinking about since I learned of NFT crypto games in the last 4 weeks. The thought of having top tier loot or characters that I OWN personally and can trade for actual money is great. Imagine all the money folks could have (asmongold even though he has more than he knows what to do with) selling their NFTs that they grinded and worked hard for AND are proud of.

[jaunty cairn]

https://staking.illuvium.io/ is the official website to go to. from there link your metamask with ETH and either stake the native ILV coin or join the SLP pool

[high breach]

Yes you're not just buying a currency for a game.. You're buying shares in the entire franchise and organisation

[uneven kayak]

Nothing but crypto games interest me anymore lol I want real world successes and consequences behind my time 👏😎

[jaunty cairn]

That too. I actually really enjoy that aspect of the Tokenomics tbh

[uneven kayak]

Right??? I love it. And from what I've seen this team is pushing the capability of unreal engine and crypto gaming MUCH further than anythings even come close to doing

[high breach]

This is basically every game that every adult loved growing up but with modern graphics and systems to take it to a level beyond anyones imaginations

[uneven kayak]

Gives people the opportunity to live off being a pokemon hunter if they work hard enough 👌

The DREAM

[jaunty cairn]

Sometimes you just gotta catch em all dood

[high breach]

Man, there aren't even really games that look this good on the new consoles IMO

[polar apex]

the thing that excites me most is if you look at a ranking of the gaming cryptos market cap, ILV is still so far behind, just because of the stage of development right now

[high breach]

Even without the blockchain aspect, this would be a dope game

[jaunty cairn]

THIS

which is why imo it will succeed more than the others

[uneven kayak]

Right? People just wanna walk around and catch monsters and battle. It's human nature

[high breach]

It's the answer to every critic that says "Nah blockchain gaming is bs, look at the graphics"

usually the graphics is the thing they point to

to discredit the space

[polar apex]

in fairness, the graphics on the stuff out now really are awful

looks worse than most phone games put together by like 2-3 people

[jaunty cairn]

they say the same thing when it comes to High end PC games & console gaming.. that will never go away

[high breach]

Yeah, Sandbox is at least an art style (minecraft)

Axie I couldn't get into

even though it's a good project / game

[jaunty cairn]

i was interested but not when i saw it was going to be 1k just to get a goon squad rolling around

[uneven kayak]

The cool thing is the success of the studio also helps the studio consistently create quality games instead of just a one and done fiat sale, they're reinvesting back into their own company with profits

[high breach]

Yes I love how ILV has been set up with all these things in mind

It's very user friendly in terms of free to play etc

This has potential to be bigger than fortnite eventually

[polar apex]

yeah imagine you can earn money

while playing a fun game

[high breach]

Fortnite is basic af

[polar apex]

rather than forcing yourself to play something you dont enjoy to earn

[high breach]

Everyones bored and waiting for a new free to play game anyway

[polar apex]

people still sleeping so hard on this

[uneven kayak]

Imagine for a second too, with what we've seen, what happens if Illuvium becomes a new Pixar or Illumination type studio helping to make blockbuster movies. 👀🎥

[polar apex]

then we start seeing illuvial action figures in toys r us?

😆

[high breach]

Yeah well it's graphics are ready made for production in a movie

[jaunty cairn]

oh god i cant wait for buzzlight year

we can play as pixar characters and buy illuvials on shelves

[high breach]

Every fight scene could be a little movie scene in a way. is that the idea? Sit back and watch the show?

[uneven kayak]

For real though it could happen! Imagine Axie toys and Illuvial toys in like a McDonald's happy meal, then in Walmart etc a whole franchise could take hold

And it all goes back to the token holders

[high breach]

Illuvial figurines

would be amazing

I'm not even a figurine person but I know they'd be awesome

[jaunty cairn]

id buy an illuvial pop collector

[uneven kayak]

https://tenor.com/view/spanky-throwing-money-cash-money-our-gang-little-rascals-gif-17781337

[high breach]

vinyl illuvials

[polar apex]

i'd buy a weeb figurine of the girl in #🚰〕leaks

no judge

🙊

[uneven kayak]

https://tenor.com/view/rafael-barba-svu-law-and-order-i-mean-like-actually-gif-16299025

[fair wharf]

So what would be considered a lot of money to stake for a casual player/investor?

[polar apex]

there's no answer to that

some people might think 10k is a lot, others might think thats very little

[solar cedar]

yeah, the answer to that question is relative.

[fair wharf]

Either way we are here making money and playing a gorgeous game

[ocean quiver]

I’m having trouble with staking… I staked some ilv yesterday so I could start making rewards… today I bought some more ilv and wanted to add it to the same pool but I was forced to withdraw my rewards from the first deposit before being able to add more to the pool … so I had to pay $10 to withdraw $1.24… and now my deposits didn’t merge like I assumed they would and to withdraw them it’s telling me to take out my rewards again … this is extremely frustrating any help would be greatly appreciated

[junior shuttle]

deposits dont merge at all

it starts fresh at 365 days once you make a new deposit

and any time you deposit you will have to claim

[polar apex]

basically think it through and don’t have too many transactions cause eth gas is pricey

[ocean quiver]

Ok thank you, thought I was doing something wrong 😑 unfortunate cause now I can’t lock them in

[solar cedar]

I think you must claim prior to every deposit. Which can be annoying if you just want to deposit. Also you have to claim the ILV pool before being able to claim the sushi LP. Might be just a UI thing though. Haven't tried messing with contracts outside of UI yet. That could end in tears.

[exotic igloo]

No you guys need to initiate the new stake

And it will force you to claim rewards with that transaction.

This is the correct way

Otherwise you will create an infinite loop of claiming ILV rewards and you wont ever be able to stake

If you want to lock your stake, withdraw it from the vesting page then stake it again under the lock staking

[ocean quiver]

Thank you! I’m going to wait a little while before locking it up I don’t want to pay all the fees again to withdraw both stakes and then stake them into one locked stake

[fringe gulch]

Hi guys I'm new thank you for being part of the community! what is the best approach to staking here?

1. provide liquidity>earn SLP>stake SLP
2. buy ILV>stake ILV

Sorry I'm new, but will really appreciate any help!

[fringe gulch]

Thank you for the medium post! Is 1) better 2)? Or both are fine?

better as in which is better at earning

Is there a guide somewhere? I've been trying to look up how quickly can one earn by providing liquidity but its hard to come to a number

So I'm guessing 2) is faster

I read that already, thank you for providing it!

I'm trying to do a comparison of which makes more economical sense

what's IL?

[woven ibex]

You can yield farm ILV in 2 main pools.

ILV/ETH at a 1:1 ratio USD values matched or ILV Only. 3 Million tokens will be distributed through yield farming over a 3 year period, with the first year being 1.8million tokens. Only unlocked tokens can yield farm which is less than 1 million tokens. Meaning, you get the maximum rewards possible. You can lock up your tokens for a maximum of 1 year which can increase your weight in the pool up to 2x. More details will be published before Yield Farming goes live near the end of May. Until then, here is more information: https://medium.com/illuvium/9-tokenomics-launchpad-and-reward-details-5894c3b356be If you don't know what Yield Farming is you can start researching here: https://www.youtube.com/watch?v=ClnnLI1SClA

[fringe gulch]

okay thank you everyone!

yall are the best! Can't wait to be experts like you guys and enjoy this game when it goes live 😆

[misty ruin]

Big day today for me : bought my first lot of ILV, LPed it, and staked that for 52 weeks.

Excited to see what the future will offer !

And to be part of that thriving community 👐

I have a quick question that just popped up :
Once rewards are vested (so in the ILV pool), they accumulate more rewards which must be vested.
So after some time, there are rewards to be vested from two sources : core pool, and vested rewards.
Am I getting this right?

Great, thanks! 👋

Is there a kind of loop where in order to get rewards, you have to vest them, hence earning more rewards, etc ?
I guess it stops once vesting doesn't give out rewards (if that ever happens).

[gloomy gazelle]

It’s like a three year distribution period

But vesting ILV will still give rewards even at the ended the distribution period. They will just be from revenue distributions

[misty ruin]

Oh, yes of course, sorry I should have got that chart.

[gloomy gazelle]

It’s a favorite of mine.

I post it often

[misty ruin]

I see, there will be a future stream of revenue into the ILV vesting from in-game purchases

Haha, gave you one more opp. to :p

Thanks Pel !

[polar apex]

could be worth pinning

[oblique yew]

Am I doing something wrong here? I've never had trouble staking before and trying to stake to the core ILV pool has failed 3 times now wasting money on gas fees, this is the only pool i've ever had an issue with, I even increased the gas limit

[polar apex]

gives useful info

[mossy helm]

Can I suggest a compound interest idea for token staking ?

[polar apex]

we get lots of questions on yield and how it works

[mental tangle]

https://illuvium.io/staking-faq

[gloomy gazelle]

Hmm links are not always showing preview now. That’s fine.

[gloomy gazelle]

@foggy hazel so you want to stake?

Go here… https://staking.illuvium.io/ and read the guide linked there if you need.

[foggy hazel]

Do I need ethereum to stack?

[gloomy gazelle]

ILV only for ILV only staking. ETH for gas fees

ETH/ILV if you want to provide liquidity on sushi and then stake your SLP tokens.

[foggy hazel]

Can I stack slp to this game?

Or do I need to buy ilv then stack?

[junior shuttle]

@foggy hazel you need to either buy the ilv and stake or get the LP token from sushi swap (ILV/ETH pair) and stake that

provide liquidity*

[foggy hazel]

So buying ilv first then stack or eth then stack?

[junior shuttle]

@foggy hazel you looking to join which pool?

the less risky one or riskier one?

[foggy hazel]

What do you less risky and riskier one? My eth or ilv could be burn? Something like that?

[gloomy gazelle]

Just read though the linked info👆🏽👆🏽👆🏽

And Google impermanent loss

[foggy hazel]

Ok

Thanks guys

[junior shuttle]

np, and good luck!

[foggy hazel]

I read it and understood a little I guess but how many months should I stack? What's the best option to do it? Where can I buy ilv?

[junior shuttle]

Buy it on sushiswap

[drowsy wigeon]

Sushiswap

[junior shuttle]

and the rest of the questions are personal preference

[brisk surge]

From what I see stack for 12 months to get a token weight of 2

[junior shuttle]

all based on your financial situation and risk tolerance

[brisk surge]

Then do what? Re stake?

Hmm

[foggy hazel]

So how much ilv should I stack? I mean what's the minimum ilv needed to stack? What happen when the game starts? Do I need ilv again to gain access to the game?

[candid plover]

Ilv not required. You should stake enough to make it worth the ETH gas fees for transferring & claiming rewards.

Have you traded with ethereum or erc20 tokens before?

[foggy hazel]

Ohh... OK Thanks

Yes I have done it before.. I played axie infinity

[candid plover]

Yeah so ur familiar with the fees. It can eat away at your money pretty quick if you’re not careful.

[high breach]

So I staked today for 52 weeks, can I stake another parcel now if I buy more ILV?

[candid plover]

Yes

[high breach]

Okay nice

[gloomy gazelle]

Correct. But to do so you’ll claim your rewards earned so far

[high breach]

Oh okay, I didn't know I could claim them if it was locked in

[foggy hazel]

OK I need to buy ilv now then stack...

[candid plover]

Yeah

[junior shuttle]

this is the way

[gloomy gazelle]

earned rewards get claimed/vested for the 12 month lockup in ILV only

[candid plover]

There will be a gas fee to buy ILV, and a gas fee to stake and claiming also costs a gas fee. So there’s strategy there to optimize your gains

[high breach]

Right.. So I will have to wait 12 months before being able to stake again?..

[foggy hazel]

Is it safe to do this transaction on cp or laptop?

[candid plover]

You can add to the amount staked already

[modern comet]

After 12 months, will it be automatically renewed for another 12 months? or will stop ILV/ETH betting?

[candid plover]

For any duration, doesn’t have to be 12 months

[gloomy gazelle]

No. Any time

[candid plover]

Yeah

[foggy hazel]

What happen when the game starts? Do I need to buy ilv again to play it?

[candid plover]

No

[junior shuttle]

nope

you buy a yacht /s

[foggy hazel]

What's a yacht?

[high breach]

oh I understand this now. The rewards I can't use for 12 months but I can "claim"

[gloomy gazelle]

Easy scuffle this one needs help

[high breach]

and after claiming I can stake more?

by adding to what is already staked

[candid plover]

Yes and when you claim you being to earn apy off the rewards claimed.

[high breach]

Okay great, thanks

[candid plover]

Any rewards you claim will be locked for 12 months from the date you claimed them.

At 2x weight

[foggy hazel]

Sorry guys.. I'm so new to this kind of things..

[gloomy gazelle]

Yes. That is one way. Or you can just manually claim whenever too. It’s just that when you do add more you will automatically be required to claim your rewards as well

[candid plover]

Compounding interest if you’re familiar with the term.

[high breach]

Okay thanks

[high breach]

Very familiar 😆

[junior shuttle]

Once game is out, its free to play. You will need sILV to do certain activities in game, but this you can claim from your staking rewards.

buying extra ILV is completely up to you

[high breach]

I bought an axie for less than $5 one year ago and sold it today for $500

[candid plover]

So yeah your rewards compound and increase your personal apy. But it also costs gas to claim so you want to build up enough rewards to make claiming worth it.

[foggy hazel]

Ohh.. Now it makes sense now Thanks you so much...

[gloomy gazelle]

Congrats man. Nice work

[foggy hazel]

Ilv will be sent to metamask right?

[atomic escarp]

how does the APY and rewards differ when pool weight is 2X for locked staking vs 1X for flexible? For e.g. $1000 staked with 100% APY as an example.

[gloomy gazelle]

APY is half what it would be.

[spiral flame]

I know someone who bought $4k worth of axie team coz of fomo, but cannot play coz of their server, so he had to sell it for $3k

[atomic escarp]

On staking home page, it says 115.48% and when I drill in, it says 57% . Is 115% for pool weight of 2X?

[brisk surge]

Yes 115 for the 2x weight

So it shows the max apy rn

[gloomy gazelle]

Yup exactly

[atomic escarp]

Gotcha. Thanks!

[mighty rover]

Is staking ILV considered liquidity mining or yield farming?

Are yield farming and liquidity farming the same? Some articles say that they are not.

Some articles imply that they are....

[gloomy gazelle]

Hmm I read it like all liquidity farming is yield farming. But not all yield farming is liquidity farming.

[foggy hazel]

Swap or liquidity in getting ilv?

[gloomy gazelle]

Swap to buy

Liquidity to get SLP tokens and provide liquidity

[foggy hazel]

Which one is for stacking?

[gloomy gazelle]

There are two options for staking. ILV only. Or the SLP tokens for providing liquidity in the ETH/ILV pool

[foggy hazel]

Slp is better right?

[brisk surge]

Depends, up to you

With slp you experience impermanent loss

Which is why it has a higher apy

[ruby wing]

More risk and gas fees but higher rewards

[foggy hazel]

Where can I see gas fee? So I won't buy eth again

[brisk surge]

The gas fees are not fixed however

!gas

[ruby wing]

!yf

[woven ibex]

You can yield farm ILV in 2 main pools.

ILV/ETH at a 1:1 ratio USD values matched or ILV Only. 3 Million tokens will be distributed through yield farming over a 3 year period, with the first year being 1.8million tokens. Only unlocked tokens can yield farm which is less than 1 million tokens. Meaning, you get the maximum rewards possible. You can lock up your tokens for a maximum of 1 year which can increase your weight in the pool up to 2x. More details will be published before Yield Farming goes live near the end of May. Until then, here is more information: https://medium.com/illuvium/9-tokenomics-launchpad-and-reward-details-5894c3b356be If you don't know what Yield Farming is you can start researching here: https://www.youtube.com/watch?v=ClnnLI1SClA

[ruby wing]

!Gas

[knotty river]

Snoop Chicken

:fuelpump: Current gas prices

Slow :turtle: | **>10 minutes**

17 Gwei

Average :person_walking: | **3 minutes**

21 Gwei

Fast :zap: | **15 seconds**

23 Gwei

Fetched from etherscan Use !help to get the list of commands

[foggy hazel]

OK thanks.. is it correct that I choose eth to ilv either when I'm in liquidity? Q

[gloomy gazelle]

You add equal value as both ILV and ETH when you add liquidity

I’m worried we are walking you through doing something that you don’t know what it is you are doing.

[foggy hazel]

What do you mean equal value?

Don't worry just guide me... 🤣

[gloomy gazelle]

It must cost the same amount of USD

[brisk surge]

You need to "mix" for instance 10$ of eth with 10$ of ilv

[gloomy gazelle]

$100 worth of ILV and $100 worth of ETH

[foggy hazel]

Ohh.. Ok.. Thanks

Then why it is automatically input ilv when I put eth

Is it not the same+

[regal osprey]

You should look up what impermanent loss is before doing this also

[brisk surge]

Would you say it’s smarter to stake ILV to earn more ILV OR stake into sILV to have more in game currency?

How much of an impact will the ingame currency have on my ability to earn ILV and NFT through gameplay

[brisk surge]

If you want ILV, you swap ETH to ILV on sushi. If you're trying to do the liquidity pool, then you need to go to the liquidity tab on sushi and input equal amounts of ILV and ETH to get your SLP.

Right but ideally I stake to earn more ILV first and compound that? I’ll probably stake a bit for SILV just to get in super early

[foggy hazel]

So if I put 1 eth it should automatically put ilv right? Or I need to do it manually?

[brisk surge]

Also I know I haven’t been here long but I’m super eager to be involved in whatever way I can, are you looking for staff in any way? Hiring helpers?

Right, gotta be able to buy a good team

[brisk surge]

Once you put in the first value of the currency you want then yes, I believe it should fill the other amount automatically and you just check to confirm it

Not as a developer but as the discord server expands I figure you’ll need more hands on deck and I’m happy to help. I’m on my phone constantly and for the past few days have done nothing but read about the project

[faint cairn]

Is there a calculator or any sort of thread I can read regarding when to vest ILV from rewards?

[gloomy gazelle]

There is something pinned in here that may help

[faint cairn]

Trying to determine what would be the best time to vest, my shower thought would be ILV dollar cost being at least double the gas cost at the time minimum

[faint cairn]

Cool I see it, thank you kindly

[foggy hazel]

Is the network name called matic?

Something like that pop ups..

[gloomy gazelle]

No Ethereum Main net

[brisk surge]

Haha absolutely, I appreciate the help. I’ll definitely be around

[foggy hazel]

Can I send pictures here?
I mean screenshot

[gloomy gazelle]

It’s maybe giving really early claiming recommendations right now. Not sure why

[gloomy gazelle]

Yeah

[faint cairn]

I think its only in view mode?

[foggy hazel]

Approve?

[gloomy gazelle]

Save a copy to your account

[gloomy gazelle]

No something is wrong.

Don’t.

[faint cairn]

ah duh, was missing the button. For as much as I love excel, sometimes google sheets brings out my stupid

[foggy hazel]

I cancel it already

[faint cairn]

Do you know if the the "$ in sushi pool" cell should be my current stake or the TVL dollar amount?

[brisk surge]

Under "Network Name", needs to be ethereum not matic

But I use metamask

[gloomy gazelle]

Basically the thing is to claim enough ILV for that amount of ILV to earn you enough to pay for the transactions before the next time you claim.

[foggy hazel]

Should I do it again?

[brisk surge]

you're using metamask right

[foggy hazel]

Yes

[brisk surge]

ok

open your metamask wallet

[foggy hazel]

Done

[brisk surge]

at the top, to the right of the fox icon

networks

[faint cairn]

That is basically in line in what I was thinking...

[brisk surge]

Ethereum mainnet

[brisk surge]

And the transaction amounts change right? That’s based on gas?

[foggy hazel]

Yes

[gloomy gazelle]

Correct

[foggy hazel]

It is on ethereum

[faint cairn]

is the "$ in sushi pool" cell supposed to be the TVL price or my current stake in the sushi lp pool?

[gloomy gazelle]

We used to think 4 ILV was a good amount to claim. But now after the pump… I don’t know anymore.

[gloomy gazelle]

The TVL I think

[faint cairn]

cool, cool cool cool

Do you know if there is a way to see my current stakes?

[gloomy gazelle]

!buy are you at the right pool?

[woven ibex]

You can buy ILV on the main DEX here: https://app.sushi.com/swap?inputCurrency=ETH&outputCurrency=0x767fe9edc9e0df98e07454847909b5e959d7ca0e , or on the following CEX's

Gate.io (non US residents) https://www.gate.io/trade/ILV_USDT
Bitcoin.com

[gloomy gazelle]

Yeah for sure

[faint cairn]

Er, I guess I should be more specific, I can see my stake, but wanted to see the APY its at

I know I locked it in for a certain weight

wrote down the weight but not the %

Right but doesnt that change based off the time period you lock in for?

[full lagoon]

Once i claim rewards, it will automatically compounded right?

[faint cairn]

or do I just do the weight * APY

[shrewd ingot]

How do you guys earn so much rewards do you just have a lot staked? I only have around 1 ILV staked and I earn around 73 cents a day

[gloomy gazelle]

Yeah more ILV

[brisk surge]

Maxing at 12 months double weight ?

[shrewd ingot]

I am yes

[brisk surge]

So if I already have some staked and decide to stake more

[foggy hazel]

What happen after the approval

[brisk surge]

The additional ILV that I stake would be on a different time/weight than my original stake

Correct?

[foggy hazel]

Ok

[shrewd ingot]

I read that profits from the game are rewarded to stake holders, so does this mean we will earn more when the game is released and people are paying money on it?

[manic spindle]

If you own ILV and have them staked, then yes.

[shrewd ingot]

Sweet

[brisk surge]

oh thats sick

i like this project more and more

[faint cairn]

I was unaware of this, that is definitely awesome

100% of player spending and fees goes to stakers?

[potent flare]

and locked staked holders also receive the revdis or only unlocked staked holders?

[indigo sleet]

Hay hay great to be here

[faint cairn]

Are devs not taking a cut of that for further development?

[potent flare]

hi

[faint cairn]

or will they be relying on direct sales?

[gloomy gazelle]

Yes. They hold tokens too

[brisk surge]

oh of course

they get paid in creating the game thus holding tons of ILV

[shrewd ingot]

I am wondering this too

[faint cairn]

Ah good to know

[gloomy gazelle]

There’s that

[faint cairn]

Honestly I am loving this project more and more. Thanks for the help and clarification

[shrewd ingot]

We are rewarded in ILV and not usd correct?

[faint cairn]

yes

[regal osprey]

All staked token holders

[brisk surge]

yes

[regal osprey]

Can’t wait for ILV buybacks and revdis to start flowing in

[brisk surge]

but like if you're holding tokens and not staking that seems pretty silly, any reason to do that?

[gloomy gazelle]

Too scared NGMI want to sell…?

[brisk surge]

ill probably hold a couple hundred $ but ill stake majority of what i buy

[regal osprey]

Maybe if you’re an active trader or doing something else with your LP tokens but no not really

[brisk surge]

sounds good

[foggy hazel]

How can I see my stack?

[gloomy gazelle]

Where are you looking?

[foggy hazel]

I saw it now on dashboard.. That's correct right?

I couldn't do liquidity so I just did swap ilv.. Hehe

[gloomy gazelle]

Yeah pretty much. Check the other tabs to see what treasures they hold too. Haha glad it worked out

[flint quiver]

https://twitter.com/illuviumio/status/1420636950814281729 - do we only need to be a part of the discord for this?

[foggy hazel]

It really did.. Thanks to all who help me.. Thanks also to you.. 👍

I did 12months that's good right?

[gloomy gazelle]

Ask in #💬〕general or #814313779696238642 or read #📣〕announcements but yes

I’ve locked all mine for 12 months. I certainly hope so.

Haha should be good

https://tenor.com/view/lock-it-up-gif-10713574

[foggy hazel]

Yes let's go.. I need to work now.. 🤣

[full lagoon]

If you claim ILV in SLP pool, where does it go/staked? In the ILV only pool? Or added in your slp stake?

[manic spindle]

ALL claimed ILV rewards are staked in ILV pool.

[late fulcrum]

Single sided staking also has a timeframe option?

[manic spindle]

You can lock your tokens in both Core Pools for bonus rewards but both core pools also allow for flexible staking (withdrawal possible at any time)

[late fulcrum]

Which do you guys prefer single sided or iov/ETH pools?

[manic spindle]

That is for you to decide, sorry. It is a financial strategy decision and only you can decide what yours is. Some went both. Some only went one of them... 🙂

[late fulcrum]

Im going single sided, I was just curious what others think

[proper hull]

I want to ask about core locked staking, what will happen after the locking period i choose?

Let's say I lock it for 8 weeks, after 8 weeks I need to re-lock again or I just can leave it there and compounding?

[abstract comet]

When you stake your ILV tokens, do you receive some sort of token in return as proof? I don't see anything. Usually when I stake on other protocols, I get some sort of LP token or something.

[manic spindle]

You can see what you staked under the "Vesting Tab". You don't get anything into your wallet when staking

[abstract comet]

OK thanks. Do you know why that is? How is it implemented in the solidity contract?

[manic spindle]

No idea, sorry. Haven't looked into the contract myself. I can say for sure though that staking rewards pile up properly, they can be claimed, they will get vested and auto-staked properly and whatever is unlocked can also be withdrawn again, so all good in terms of functionality 🙂

[abstract comet]

hm, ok. The why makes sense to me now that I think about it because of the lockup period etc. so it's a bit more complicated.

[manic spindle]

You can see under "Vesting" for every batch you have - deposited or claimed as rewards - what their individual locking period is

[vagrant pine]

Hi guys! I'm new here, do most ppl stake on ILV alone or Sushi LP as well?

[abstract comet]

ok cool yeah I see that. It's just when I look in my wallet I like being able to account for everything. If I invested in 10 other projects, each like Illuvium, there would be no central place to keep track of everything.

[proper hull]

I staked my ILV, what does VESTS means?

[vagrant pine]

Hi! Thanks for your response! Appreciate it! I would go read up more on this, im really looking forward to it so gonna put my money in, I think it will do really well

[potent flare]

qustion: if i locked my SLP for a year when it was 620%, now it is 650%, does my locked reward go off the first value or does it adjust to the current value?

[abstract comet]

🙂 I hope it's something I'll be excited to check on frequently.

[potent flare]

ty

[proper hull]

I still don

[woven ibex]

There's many terms and acronyms in crypto that can be confusing at first. DAO, DYOR, HODL, ATH, KYC, DCA, DEX. To make this easy, you will find what the terms and acronyms mean using this site: https://coinmarketcap.com/alexandria/glossary Either search through manually or use the Ctrl F search function to find the meaning.

[proper hull]

I still don't understand, "where it is vested for 1 year" means ?

[manic spindle]

It means they are locked for 12 months. You cannot withdraw them. They do compound, meaning that they get stake on their own when claimed and help you farm even more, but you cannot withdraw them until those 12 months have passed.

[proper hull]

Thanks for your explaination, is that sILV? The staked rewards i can claim is ILV right? Does it mean by staking, I earn both ILV and sILV(locked for 12 months) at the same time?

[brisk surge]

You decide what you earn, but can only claim one of them at a time

[manic spindle]

No, you claim either more ILV and have them locked and auto-staked for 12 months or you claim sILV and have it availble right away but sILV can only be used ingame to pay for fees that also can be paid for with ETH

There MIGHT come other things to pay for with sILV but nothing announced yet

[elfin wren]

Should you let rewards build up before claiming or should you claim pretty soon after initially staking?

Gotcha thanks

[proper hull]

ok, i get it now!

[proper hull]

sILV can also swap to ETH on Sushiswap?

[manic spindle]

Not right now to my knowledge. Someone could make a pool for that but not sure if that ever happens.

[brisk surge]

If you only want the sILV I recommend not claiming it at all since you would waste money on gas fees and it does not compound. Just wait till the game is released. If it's ilv you want to claim wait until you have enough for it to be profitable concerning gas fees, and also wait for low gas fees moments so it's cheaper as well

I believe low gas fees occur usually on weekends

[sonic wolf]

yeah makes no sense getting sILV

just farm ILV and exchange for sILV once game launches

i am pretty sure there will be plenty of pools around

[manic spindle]

No details yet, but just saying: #814313819185741845 message

[sonic wolf]

thanks for alpha

[eager rover]

Do not give him alpha. @manic spindle

[sonic wolf]

[stiff adder]

How to unstake form SUSHI LP?

[hollow vessel]

In this chart, where are we now?

[sonic wolf]

wow

[hollow vessel]

Thanks, very juicy

[proper hull]

I thought there is no fees by using Immutable X? Why need sILV?

[sonic wolf]

so dual pool will experience bigger decrease of rewards vs single pool

[stiff adder]

thanks

[sonic wolf]

use sILV in game

ILV is for profit sharing outside of game

[proper hull]

Ok, thanks

[odd vapor]

can i know how to stake in illuv?

[odd vapor]

why do you want to unstake ?

[manic spindle]

You can find infos here: https://medium.com/illuvium/28-everything-you-need-to-know-about-staking-ilv-6669594b2fac

[sonic wolf]

have ILV in your wallet and go to staking page and deposit

[manic spindle]

If more is needed, come back and just ask 🙂

[sonic wolf]

probably his IL is killing him

[odd vapor]

sorry i am kinda new in words what do you mean by killing him ? is he losing some money ?

[sonic wolf]

in double asset pools when price of one asset goes up, you basically "selling" that appreciating assets into second asset. So you end up having less ILV vs ETH and loosing money when ILV further pumps

[brisk surge]

On the flipside, you generate more ILV yield which helps to mitigate that

[sonic wolf]

the reason it is called "impemanent loss" is that losses can be reversed if for example ILV price goes down and ETH goes up

[sonic wolf]

yup. But still: crypto going sideways + ILV yield > ILV going up + ILV yield

[odd vapor]

what option shyould i use as a begineer?

core one or the other one ?

[sonic wolf]

I mean ILV-ETH is not bad at all. Both tokens are pretty bullish on long term time horizon

so if you are ok having end up with more ETH in the future, do double pool

if you want to hold to your ILV then do single pool

if we had ILV-USDT pool then it is a problem, but ILV-ETH is pretty sweet too

I split my tokens like this: 80% went into single pool and 20% went into double pool

[grizzled granite]

may i please kindly ask, im new with whole crypto thing, i recently bought a few miners so im in the process of setting everything up

i think illuvium is really great i want to stake 0.3 eth
i have a metamask with barely anything in it

whats the cheapest way for me(in fees) to put 0.3eth on my meta mask and stake with $ilv with sushi swap?

[mint cave]

lol i did the exact same thing

[sonic wolf]

at the moment both pools are making almost same yield, but IL is pretty crazy

I went into ILV-ETH pool with 1000 ILV for example

and right now have about 483 ILV

[grizzled granite]

thanks so much okie ill try !!!!

[odd vapor]

did u lose?

why turn into 400 something?

is that your gain ?

[grizzled granite]

okie thanks so much

[sonic wolf]

i did not "loose" them

they got converted into ETH

[serene steeple]

@grizzled granite you're not alone, even my mind is exploding from this convo 😆