🥩〕staking

[cunning perch]

if you lock your ILV toke, you'll be able to release it after the locking is done

[viscid venture]

Thanks for all the information @cunning perch helps out alot

[cunning perch]

know that in this game, the number of the ILV tokens you hold is the real profit and not the current price as you also get Rev for the token number not the token price. So compomding is pretty lucrative. NFA ofc 🙂

[cunning perch]

oh don't ever mention it 🙂

[obsidian dawn]

And is ILV going to be spendable ingame? or directlyconvertable to silv?

[cunning perch]

no. ILV is the governance token, you can swap it, stake it or sell it. sILV is used only in-game and will have no otehr use case...until said otherwise

[viscid venture]

This token will be so much better then BTC

I’m sure the token itself will hit 2-3k on release

[cunning perch]

It already has proven its worth and will only get better as it has one of the best teams working on it and one of the best communities in crypto space

[viscid venture]

I’m hoping it hits higher then eth

[obsidian dawn]

Could you please explain what you mean by grind out for Silv first?

[cunning perch]

in terms of price, probably. MC, not improbable, but def very hard.

[cunning perch]

he means he'll try to have sILV on the side and ready to use in game and spend for certain stuff

[viscid venture]

Yeah exactly

[obsidian dawn]

And doing that by staking ilv now?

[cunning perch]

sILV is only claimed by staking ILV yes

[viscid venture]

Claim my ilv as silv

[cunning perch]

u claim your rewards as sILV.

[obsidian dawn]

oh i see. And that way there is no vesting period?

[viscid venture]

So I’ll stake for a month and claim that all in silv for the game realise

Release

[bold bough]

can i swap silv for ilv

[cunning perch]

sILV has no vesting period 🙂

[cunning perch]

Nope

[obsidian dawn]

Ohh alright thanks guys!

[viscid venture]

I’ll stake ilv for 4 months tho because that’s when the game is released in December

[bold bough]

vice versa ?

[cunning perch]

#🥩〕staking message

[viscid venture]

Gives me a head start to buy creature and sell the off for ilv

Or sell them for eth and turn eth to ilv

[cunning perch]

for the game stuff try this channel #💬〕general 🙂 let this be a place for staking questions only thanks my friend

[obsidian dawn]

Yeah, thats hat I was thinking but I didnt fuilly understand silv. untill you guys explained... So the idea is, if I stake ilv for 16 weeks, then claim silv, i will be able to start out the game pretty great and earn right?

[viscid venture]

Will do 🤙🏻

Pretty much yeah

[cunning perch]

you can lock your ILV tokens for max one year and get good rewards. these rewards will be in form of ILV and/or sILV every time you choose (you decide what rewards u want). for now sILV has no use case.

[cunning perch]

thx 🙂

[viscid venture]

Imagine locking for a year

The reward would be phenomenal

[cunning perch]

It already is 🙂 and most are locked for full year and will continue to do so

[viscid venture]

Would be one rich person

[obsidian dawn]

So is there no way to get Silv to spend ingame other than staking ilv anjd claiming it?

[viscid venture]

Literally 100k+ worth of money I reckon

I’m pretty sure you can mine minerals in game for silv

And do quest or fights

[manic spindle]

No, only staking. sILV ist just a means to liquidate your staking rewards without a locking period. You can pay for everything with ETH ingame

[cunning perch]

`Nope. sILV is only minted as you choose to receive your reward in form of it.

[manic spindle]

1M ILV not sILV are set aside from ingame rewards. No additional info for what yet.

[viscid venture]

Yeah but if you stake ilv for a year and claim back as ilv wouldn’t it be a fair chunk of money

[bold bough]

i can only get silv by staking ilv, is it correct ?

[obsidian dawn]

yes

[bold bough]

those silv gonna be so small

[viscid venture]

That’s weird, would be good if you can mine minerals in game to receive as well or fight to earn silv would make more sense rather then just having to stake a coin

[cunning perch]

yep. sILV = ILV. they have the same value but different use cases

[obsidian dawn]

What I do not get is what token will be the reward earnable in-game. I am not talking about selling on the marketplace, but actually is there going to be a way to earn sILV/ILV/ETH in-game by playing?

[manic spindle]

ETH is the main ingame currency. ILV is the governance token. It is already an additional offer to even be able to liquidate your staking rewards immediately as sILV and bypassing the 12 months locking period your rewards (in form of ILV) otherwise would have.

[viscid venture]

That’s what I was saying about mining minerals and fighting creatures or evolving to earn a currency

[cunning perch]

you never get ILV in game and you use sILV for traveling or curing shards. what ever your earn is, it's gonna come thorugh the market place and it'll be in form of ETH

[manic spindle]

Please check the tokenomics for that: https://medium.com/illuvium/9-tokenomics-launchpad-and-reward-details-5894c3b356be

It is 1M ILV that are set aside for ingame yield.

[manic spindle]

Not true, you do get ILV ingame. 1.000.000 total in fact. Just not disclosed yet for what exactly. For sure tournament rewards in some instances at least.

[viscid venture]

Do you lose some silv or ilv in game to?

[cunning perch]

yeah for that reason, but I wasn't sure since it's not disclosed yet 🙂 but thx for the correction 🙂

[manic spindle]

ILV cannot be used for anything ingame. sILV can be used to pay for everything (except marketplace trades) that otherwise is paid for with ETH

[viscid venture]

All I know is I’m keen to make some good dollar and play this game for a living

[manic spindle]

Also, for anything NOT staking related please use the relevant channels like #💰〕token #814313779696238642 #💬〕general

[cunning perch]

you already get good money for not playing and through staking and revDis, you'll get bonus by playing though.

[viscid venture]

Do you lose silv then if you lose a fight for instance?

[cunning perch]

#💬〕general 😄 let's keep this channel for Staking questions 🙂

[viscid venture]

Yeah bro as soon as my BTC staking is up I’m definitely shooting into Ilv and staking for a year

Earn my self some monster money

And play the game and earn more

[cunning perch]

hope you get rich. 🙂 and continue being in ILV forever 😛

[viscid venture]

I’m planning on it 😂

Should get monster cash from staking for a year

I feel the charizard looking one is going to be the best one to get and try to sell to stake the earning from him

[flat lintel]

Hi guys where can I see the ILV that I staked?

[manic spindle]

Under "Vesting"

[flat lintel]

Thank you sir! 🙂

[spiral flame]

trying to stake. is this failed already?

[cunning perch]

u can speed it up though if you want I guess

[pure wagon]

guys which is better to stake ILV 112.63% or Sushi LP 645.77%, i dont know the difference so naive here.

[manic spindle]

This comes down to personal financial strategy, we cannot give you that info. Some are ILV only, some are LP only, some are both. There a many factors to consider. You should under all circumstances understand Impermanent Loss though before even considering to go the LP route: https://academy.binance.com/en/articles/impermanent-loss-explained

[vague sierra]

when i add eth and ilv to shushi pool i will get a LP token back right? which token is that is it SHUSHI token? i want to know so i know which token to add in my metamask wallet to see it

[gloomy gazelle]

The SLP token address for ETH/ILV is pinned in here

It’s not sushi

[manic spindle]

• You take your ILV/ETH here: https://app.sushi.com/add/ETH/0x767FE9EDC9E0dF98E07454847909b5E959D7ca0E
• You provide a 50/50 ratio of both (in $)
• You get SLP tokens back
• You take those SLP tokens here: https://staking.illuvium.io/staking/core
• You stake your SLP tokens in the Sushi LP pool with whatever locking period you want
• You claim your rewards as ILV or sILV (whatever you prefer) whenever enough rewards have piled up for you to justify gas fees

If you never provided LP before though, make sure to understand IL: https://academy.binance.com/en/articles/impermanent-loss-explained

[gloomy gazelle]

If you are just planning to stake it in Illuvium pool anyways you don’t need to add it really. The dapp can read it for you.

[vague sierra]

ok thank you 🙂

[spiral flame]

I am trying to stake but its been more than an hour and its still pending. Should I cancel this already?

[gloomy gazelle]

No

What’s the gwei?

[spiral flame]

26

[gloomy gazelle]

It’s Friday it’ll work eventually

[spiral flame]

hopefullyy...

[gloomy gazelle]

Do you have other transactions you need to do?

They can pend for days waiting for gas to go down

[spiral flame]

not really. Claiming rewards before staking is successful

[bold bough]

stake LP and you get 50%

a month

[winter musk]

@bold bough @manic spindle so APY is calculated monthly? or yearly

[manic spindle]

APY = Annual Percentage Yield

[winter musk]

annual being yearly or monthly though 😛

[manic spindle]

Annual = Yearly

[winter musk]

I always thought it was monthly, maybe I'm confusing it for APR

[manic spindle]

The APY shown when checking the core pools is what you would get with 12 months locking for 2.0 weight. Obviously, this only remains true for a whole year if the APY would remain the exact same but since it fluctuates, so do the rewards.

APR = Annual Percentage Rate

[winter musk]

Yeah, I was confused. Thanks for clearing it up

[gloomy thistle]

Sorry for the newbie question, but why would you stake your ILV when you could just keep the token and wait for the value to go up and sell it? Wouldn't that yield better profit than what you would get from staking?

[ruby wing]

Because with Staking you don't have to lock to earn yield. So by not staking you are missing out on "free" yield/ILV tokens

!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]

For example, If I had just held my ILV in my wallet I would have missed out on earning X ILV tokens which is worth X USD. The amounts depend on your bag and locking period

[gloomy thistle]

Can you take your ilv out from staking anytime in case you decide to sell it?

[pure wagon]

is this for real? how many hours the will gonna approve your wallet for staking?

[somber compass]

If I already staked ILV, is it possible to lock it? Or do I need to withdraw it to my wallet and re-deposit it again?

[winter musk]

Locking does increase the pool weight (so if I lock for 8 weeks my weight becomes 1.15, meaning I'm getting rewards equivalent to if i have x1.15 of what's actually in there)

[cursive crow]

Is it possible to stake a fractional part of ILV token which value is below 1 ILV? If yes, there will be a chance that it can yield?

[pure wagon]

i use 22 gas

[somber compass]

ok, thank you so much!

[gloomy thistle]

Ty for the response

[pure wagon]

the sILV is the Sushi LP?

[silent spire]

Just took out flexible SLP pool staking and made it fixed for 12 months, can. This is the way. 😄

[unique thicket]

Hey guys, new to this and when I staked my initial ILV/ETH tokens, I accidentally staked only about a quarter of what I wanted to. It's locked for 12 months and I don't want to change that. My question is am I able to increase my amount staked somehow?

[ruby wing]

You will have to do this in a new tx but your rewards will pool

[unique thicket]

I'll have to give it another shot, when I first try to increase it, I got a message saying that I had to withdraw my rewards after a vesting period before I could stake again

[manic spindle]

This won't change. With your first deposit rewards even if just tiny started to pile up. Whenever you deposit something again afterwards, you will have to claim your rewards within the same action.

[drowsy wigeon]

does it cost to claim a reward? Planning to add to my staked ILV but dont wanna lose money in the process

[manic spindle]

Claiming LP rewards is always two transcations if I remember correctly because it also has to claim ILV pool rewards at the same time. Claiming ILV pool rewards alone is only one transcation (also when done by staking a new deposit).

[gloomy gazelle]

Yeah buddy

[tacit cedar]

I'm claiming my first slp rewards this weekend. What was said regarding doing it fast? Was it the first or second transaction which needs to be fast?

[manic spindle]

I think that having the same speed was usually fine and otherwise it was important that the first one is faster. But you should get feedback from someone who is absolutely sure. I think @exotic igloo knows it for certain.

[jagged spindle]

If I have .6 of SLP how much can I expect to receive by the end of 52 weeks?

Is there a rough estimate I can calculate?

[ruby wing]

check pinned, there should be a calc

if not, we can try to help

[jagged spindle]

Ok thank you

This calculator is a tad confusing…

I was hoping to punch my numbers in the receive and estimate.

Now I have questions lol is it better off to claim rewards every 8 hours??

[ruby wing]

depends on your bag

I wait until I have about 10 ILV to claim

and when gas is below 15 Gwei

[jagged spindle]

Ok can we get an updated calculated it has the price of ilv at $40

Right now I have almost one SLP

[ruby wing]

I havent done the calculation so you will have to estimate it yourself

[exotic igloo]

Both needs to be at the same gwei

It doesnt need to be fast

I leave mine pending sometimes

Just make sure both are the exact same gwei

[jagged spindle]

@ruby wing how long does it take you on avg to hit 10? Also, how many SLP do you have?

[ruby wing]

About 1.5 weeks now

[jagged spindle]

@ruby wing that’s awesome I’m just trying to figure out how much I need in this to be able to make decent profits.

Thank you as well

[ruby wing]

If you have below 1 SLP it will take longer

[hybrid ferry]

wow why is Eth gas soooooo expensive

[cunning perch]

about $18 now normal.

[tacit cedar]

Amazing, thank you. With my ILV only I always claim slow, so I can do that too, so long as I match the exact gwei?

[hybrid ferry]

yeah! that's like 100 transactions on BSC

[cunning perch]

I'd wait for the weekend for it to be under 15 Gwei if possible

[hybrid ferry]

I just staked 2 ILV for 52 weeks and that is fine.. but the 0.5 I was gonna stake on the flexible one I just gave up...

[cunning perch]

welcome on board. wait for the weekend. it might calm down a bit. and claim rewards whenever there was a good chunk available so the gas would be worth paying

[rocky fox]

actually BSC isn't good as well, it's about 20 transactions, their costs went up to 0,8$ now

[dense hemlock]

Hey guys. What is the better option for staking?

[cunning perch]

I take it you mean which pool, right? it depends on you and your risk taking. SLP runds the risk of IL (Impermenant Loss) but the single asset pool doesn't and therefore gives you fewer rewards.

[vague sierra]

hi, i would like to know a bit more about SLP, i locked in some SLP today for 12 months and i was curious to know what happens after this lock period

[ruby wing]

you will be able to unlock and claim your tokens

[vague sierra]

will i get back the same amount of ILV i put in today or will i get back based on the dollar value i put in

[ruby wing]

There is risk of imperm loss, it depends on the price of ETH and ILV

Lets say ILV goes to 2000 and ETH stays at 2300, then you will have a large chunk of Imperm loss meaning the amount of ILV you take out will be less

[vague sierra]

for example i put in 27 ILV will i get back 27 or will i get back less if the price in 12 months is higher

[ruby wing]

however, since you locked for 12 months and get the 2X boost on the APY (so 600%), you should be able to recover the amount of IL.

[vague sierra]

so it depends on the price of ETH?

[ruby wing]

Yes, if there is a divergance from ETH, there will be imperm loss

or if ILV drops and ETH goes up, you would have less ETH

[vague sierra]

i am little bit confused sorry

lets give my case as example

i put in a total amount of 11k today right

after 12 months does this grow as ILV is gaining and asuming ETH is aswell

or am i getting back only the money i invested today?

which is the 11 k

i am just curious about it because i know that before the year is up i will already have lot more value out it from the rewards till then

[cunning perch]

@manic spindle can you help him? I believe your answers can be way more precise than mine 👆

[ruby wing]

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

Before stormi tries, try watching this video

[manic spindle]

Yeah, that article is a good start. That's the one I also link always

[dense hemlock]

So many gas fee. Binance -> metamesk -> swap eth ilv -> staking

its above $120

[frigid fjord]

Yo guys

I have done some quick maths on this

and impermanent loss is nothing compared to the 600% APY

[dense hemlock]

sorry no $120

[frigid fjord]

you are getting in ILV tokens

How often are you guys claiming?

[dense hemlock]

above $30

[frigid fjord]

Looks like once you claim you also get a 2x loading over the 12 month vesting period?

[vague sierra]

from what i see you can get back your investment ini ILV in 2 months time

[frigid fjord]

Yeah its fucking insane dude

[vague sierra]

the remaining 10 months are pure profit and then the token itself is still getting higher

[frigid fjord]

as the price goes up those ilv rewards are on crack

[vague sierra]

the onlyh thing i am confused about is the amount of your initial investment at the end of the ride

but i'm watching the video you sent me now 🙂

[frigid fjord]

Just curious how often you are staking. I have about 2k usd locked for 12 month in liq

claiming sorry

Fhayoun it's like opportunity cost

[vague sierra]

yes i wouldnt mind if the initial investment was lost to be honest i'm just curious to what will happen to it thats all

and also if i claim the rewards from the LP will it be vested with 120% or 640% ?

[short copper]

I have 2.18 Sushi tokens locked for 126 days I make .2 a day I will claim when it reaches 1 ILV each time

Is my plan

[frigid fjord]

Sir this is what I was planning

Because that 1 ILV is vesting over another 12 months

I have a similar amount to you. At some point we are going to have a shitload of Yel vesting.

And that shit is cumulatively subject to a 2x multiplier right

sorry ILV vesting

lmao

[short copper]

I think claiming once a week or so when gas is low is not a bad plan yes it is

[frigid fjord]

Nice

you effectively get 1200% atm?

[short copper]

I think only 650% is what you get

[frigid fjord]

maybe even more because of cumulative loading on the initial. It is definitely hard to work out trajectory.

[short copper]

if you locked for 1year in sushi lp

[frigid fjord]

the extra 2x loading on vesting tho

[short copper]

oh yes that is true I suppose

It does mean your investment is tied up quite a bit via timelock though

[frigid fjord]

yeah we are timelocked for sure

[regal marten]

the 650% being displayed is assuming 2x weight

[frigid fjord]

Ahh I see

[regal marten]

a bit confusing, i agree..

[short copper]

Well he means if you include the time it takes to collect your rewards too

[frigid fjord]

your last like 2 weeks of rewards are effectively locked for another 12 months on vesting

[short copper]

So you'll collect 600% over the year and then the rewards you collected over the year will collect 100%

[frigid fjord]

I thought the 650% was on the staked amount.

Then the vesting amount gets another x2

[short copper]

Yeah hopefully the game is popular and it will be desirable to have your rewards locked for even longer than that

[frigid fjord]

Yeah bro. I am all in

Was thinking of just loading more money as I go into the ILV pool.

The price has been mooning.

[exotic igloo]

Yes

[dense hemlock]

Is there a guide to know how the staking options works?

[ruby wing]

Medium 28

#🔗〕helpful-links

[naive cloud]

What happens in exactly 12 months after staking was enabled to the Sushi LP.. will those of us who started staking in it now get nailed with impermanent loss as initial first comers unlock their ILV or am i not fully understanding something?

[frigid fjord]

Hamms you can only get impermanent loss on the amount you added to the liquidity pool

The rewards and returns at 600% in purely ILV

make up for this IMO. Because I can only see ILV price going up. It won't matter - if you look up illuvium videos on youtube

a ton of the large crypto guys just go all in on adding liquidity - DYOR

Even if the price of illuvium does a 500% increase and ether stays even. You would only lose 25% in impermanent loss.

[bold viper]

To be clear, the liquidity pool has eth and sushi but we can only add sushi to it?

also just to recap if you claim your stake, you will need to wait 12 months first right before you can get it. Although you will still receive the same amount of bonus. So if I locked it for 52 weeks, I would have to wait 2 years before being able to recieve my funds into my wallet, but during those 2 years I would profit from that double weight

punch me if im wrong

[naive cloud]

Lol, i think you're right on the last part but on the first part you combine ETH and ILV in the Sushi LP which gives you the SLP token that you then stake

[ruby wing]

^^^

This

[bold viper]

can you explain further please? 😅

the token I would be staking would be this one yes?

[naive cloud]

no

[bold viper]

Sorry I just watched that video on impermanent loss and i'm now also in a state of impermanent loss

[ruby wing]

No, you stake 1:1 ratio of ILV and ETH

!yf

[bold viper]

oh neat that makes sense

[ruby wing]

Read Article 28 under the medium posts

[naive cloud]

just go to to sushiswap change the bar from swap to liquidity then add equal parts ETH and ILV which will automatically put SLP in your metamask wallet. you need to have ILV and ETH prior to doing this

[ruby wing]

#🔗〕helpful-links

[bold viper]

thanks mates!

[ruby wing]

Gotchu

[bold viper]

1:1 ratio as in 1 eth to 1 sushi? Or are we going of price?

[ruby wing]

@naive cloud thanks for your help

[ruby wing]

1:1 ILV/ETH

[bold viper]

as in 10USD to 10USD

[ruby wing]

goes into the pool

yes

[bold viper]

Oh damn yea sorry thanks`!

[ruby wing]

Sushi is not involved other than the small LP fee you get on their site when you are a liquidity provider.

You liquidity Provide ETH and ILV, or just ILV in the single asset pool

[naive cloud]

buy ETH> use it to buy ILV > keep some ETH (like .1 ETH equals 1 ILV rn) > combine these in sushi liquidity pool > take SLP token this gives you to stake in sushi LP on illuvium

dont buy sushi for the love of god

lol

[bold viper]

Oh damn gas is more expensive than I remember

[bold viper]

I might have some for dinner, but thanks for the step by step explenation!

[naive cloud]

all good, good luck

[ruby wing]

Wait for sundays to do it

I wait until gas is around 10 GWEI

[naive cloud]

@ruby wing i've been waiting for about 25mins for the 'Approve Sushi LP spend' to go through.. does that seem like too long?

[ruby wing]

What was the gas at?

[naive cloud]

26

[ruby wing]

Ya thats low for now

just wait it out or speed it up

up to you

[gloomy gazelle]

One of our resident sharks (maybe a whale) once told me if it takes less than 30 minutes you’re probably paying to much for gas.

[naive cloud]

perfect thx!

[gloomy gazelle]

I’ve waited days for my claiming transaction to process

Lol

Maybe not wise. But it works

[naive cloud]

lol yeah, its becoming clear that patience is critical in general here

[eager rover]

Sharks are malicious LOL. Dolphins sir

[gloomy gazelle]

Haha. Ok I agree

[bold bough]

ETH ⬆️ ⬆️

[copper dawn]

There are currently 240 staking transactions over 500 ILV. Those lucky people 😄

[versed hare]

Guys what is the difference between staking pools the ilv and sushi?

I cant seem to stake in sushi

Keeps asking me to add number

[stuck lichen]

ILV pool is staking ILV either flexi or locked

Sushi pool is staking ILV/ETH in the form of SLP - Higher APY but impermanent lose possibility etc

#❓〕faq #🔗〕helpful-links

[versed hare]

Thanks does this mean that to stake 5 ilv you need 5 eth or just the same value? Like around .4 eth in this example?

[copper dawn]

The same value. For example, $100 USD worth of ETH and $100 USD of ILV.

you can use a ILV/ETH chart to get an idea of what you need of each.

[stuck lichen]

that ^

[tight venture]

sILV doesn't earn rewards correct?

[stuck lichen]

Correct. sILV is the reward 🙂 Used for in game purchases

[glass carbon]

yup

[split rose]

Hi All, has anyone had their LP staking transaction stuck in Metamask? Have it as pending for over 10 hours now? It is a ledger account could that be an issue? Any advice would much appreciated.

[ruby wing]

How much gas do you have on it

slow gwei is at 35 rn

[split rose]

its at 25gwei

[dark cloud]

So if we have $1500 worth of ILV we will need $1500 worth of ETH in order for the staking to even work? Or will it only stake the equal amount of ETH to ILV we have in our wallet?

[ruby wing]

You will likely have to speed this up, are you using metamask?

[split rose]

yep

[split rose]

will give it a go now

[ruby wing]

if you go into the transaction, you should see a speed up option

Gwei just hit 27

so maybe speed up to like whatever you are comfortable with above 30+ maybe

[split rose]

Adjusted gwei to 32, but when I hit save on metamask it defaults back to 25? hmm...

[ruby wing]

Hmm, I have to run right now. Just be patient and hope it goes through

[split rose]

cheers, thanks for helping out

[ruby wing]

Ill be on later and check in!

[jagged spindle]

Will you ever be able to exchange sILV for ILV?

[copper dawn]

Yes if you're staking in the sushiswap LP pool you will need $1500 ILV and $1500 in ETH in order to stake. You do not need integer values, decimals of ETH or ILV are fine.

[naive cloud]

I'm having the same issue too

[stuck lichen]

sILV is for in game purchases only

[viscid venture]

Stake on the illuvium website

Rather then sushi swap

Can stake any amount on the website

Sushi swap isn’t the best app I don’t reckon there’s no 2FAS no security requires all dodgy where the app I use I need to put all my security in order to pay or send coins to stake to the website

I’m staking a fraction of ilv atm and grinding for etherium of BTC staking

So I’m earning passive income to pay for my ilv to stake

[thick kraken]

How often do you guys claim?

[stuck lichen]

When the APY benefits outweigh the gas cost. 🙂

[thick kraken]

That makes sense on further thought, thanks 😄

How do I get sILV? Im only getting ILVs

[final steppe]

You'll have to pick one or the other when you're on your Rewards page. So if you claim, ILV, you will not receive sILV and vice versa

[stuck lichen]

^ Perfect

[thick kraken]

I see, so with my case, it's either I get 1.16 ILV which will stake and vest, or 1.16 sILV which is unlocked for in-game purposes?

Will sILV ever be tradeable?

[final steppe]

Precisely.

[stuck lichen]

No, as far as we know, its for in game purchases only

[thick kraken]

Thank you all, love this community, super helpful as always

[stuck lichen]

No worries! 🙂 Love this community also

[jagged spindle]

thank you

[terse valve]

Will you be able to trade sILV for ILV?

[mental tangle]

not currently

and i dont think they plan to allow it.

[terse valve]

Ahh i see thank you. What would stop it from being added to a Dex though?

[mental tangle]

Nothing I suppose. I'm the wrong one to ask this one.... Hey @gloomy gazelle I see you online. Any words?

[gloomy gazelle]

Yeah you are correct.

It could be

We expect if it does it will trade at a premium. So you’d likely be getting discounted in game funds. Or be selling your sILV at a loss. Because it will only ever be accepted in game at an equal value to current ILV price.

More likely to see it paired with a stable coin or eth than with ILV

[unreal estuary]

Hi, Where i can buy ILV?

[gloomy gazelle]

!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

[oak peak]

Is the ILV from staking auto compounded? And what’s the frequency of the compounding

[oak peak]

Also is it better to stake ILV or the LP tokens

[slender ocean]

its a token right... whats stopping anyone from creating a liquidity pool so it can be traded outside the game?

[terse valve]

I see, then a strategy someone can use if they don't want to wait a year for vesting is to sell sILV for a stable then buy ILV once when the game comes out

[terse valve]

LP has higher apy even taking into account impermanent loss

[oak peak]

But when ILV 10x and moons

People holding the LP pair will be sad?

[gloomy gazelle]

Your rewards are accruing every block. So like 15 seconds. But you must claim your rewards to start them vesting and actually earning to compound. And that is done manually by a transaction.

[gloomy gazelle]

Yeah IL is real right now

If I calculate it off of ILV only versus LP the I’m at -40+% IL right now. Which for some that’s what the choice is. all in or LP.

[gloomy gazelle]

Mmm but if all you want is ILV just claim ILV. If you want in game funds then you need sILV. If you want something else…

It’s a hard call on which is better right now

It’s good to note though that all the rewards are ILV that gets vested into the ILV only pool. It’s gonna be bonkers full of ilv

[slow turret]

The main problem with claiming ILV to me would be the 12-month lock... during the public beta, I expect faster, though very indirect and uncertain, retrieval of monetary value through sILV (more healing and travel -> faster luvi catching -> more sales on Illuvidex for ETH).

[sharp rover]

Agree with you there my plan is to claim ILV once a week until a week or two before the game releases. then claim sILV instead

[oak peak]

Can we not switch the rewards from sILV to ILV

[abstract sentinel]

no

[wintry yew]

pardon me asking but whats the difference between sILV and ILV

[abstract sentinel]

sILV from what i understand can only be used in game to buy stuff

$sILV can be used as in-game currency for things like enhancements, skins, and emotes. It can be earned by staking $ILV in the protocol.

[wintry yew]

ahh so sILV has no real-world value ?

[abstract sentinel]

ya

[junior shuttle]

not directly

you will need sILV to cure shards which are needed to capture illuvials

those said illuvials can be sold on marketplace for eth

[wintry yew]

Oh ok I see I see

All very interesting

So would u say it is worth it currently to buy ILV? Like would it benefit me more so when the game is released

[glass carbon]

this is misleading you don't NEED sILV, you will have the option to use sILV

[jagged spindle]

Ah so you could use ILV and sILV for this?

[glass carbon]

will only benefit you if 1. you expect it to go up in price and want to sell for funds to spend in game or 2. you stake to gain more ILV to sell for funds to spend in game or 3. get sILV to spend in the game

[glass carbon]

sILV or ETH yeah

ILV is not for spending in game

[wintry yew]

@glass carbon I’m assuming there’s a video somewhere that goes in depth about all this, but what does ILV do for you

[ruby wing]

!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

[final steppe]

If you’re looking for a video, specifically then Giancarlo has a pretty good overview here: https://youtu.be/WXTLGuLL7Eo

[wintry yew]

@final steppe thanks homie I’ll check it out!

[brisk surge]

what does it mean to claim rewards? If i claim it will my staking disappear?

[ruby wing]

When you claim your amount will vest for 12 months at 2X weight

that is if you claim ILV

[brisk surge]

at the dashboard

it says pending rewards

i only invested like couple days ago

$16 reward pending

[brisk surge]

do u mean it’s locked?

for 12 months? at 2x weight

[glass carbon]

yes.

[gloomy gazelle]

Oh 2x weight means even though you have 10 ILV in the pool it calculates your rewards as if you had 20. 2x the weight.

[wintry yew]

@gloomy gazelle I’m confused why you wouldn’t just stake in sushi LP and not ILV 🤔 since the apy on sushi is so much higher

[gloomy gazelle]

Providing liquidity opens you up to significant risk of impermanent loss.

It takes equal dollar amounts of eth/ILV to provide liquidity.

[ashen dust]

Anybody else that uses cell phone to claim rewards having problems? Seems like my MetaMask wallet and staking aren’t communicating. I usually claim a few times a week but haven’t been able to claim at all this week.

[gloomy gazelle]

I’ve been able to connect no problem.

Have you tried to do transactions? Or have you not even been able to connect?

[ashen dust]

Not been able to connect

[gloomy gazelle]

Do you use the MetaMask browser?

Is your MM on ethereum main net?

[gloomy gazelle]

Look up impermanent loss.

[ashen dust]

I just use the MM browser and everything worked fine. Thanks for your help!

[final steppe]

Yeahh, mobile is a bit pesky. I stick to browser for my transactions. I might have to get some tips from the mobile master @gloomy gazelle though!

[wintry yew]

Ahh I see, so u may buy a few shares of ILV, but because of the staking have 20 shares later, but the 20 could be worth less than you originally paid because of impermanent loss? Not sure if I’m correct on that but that’s my understanding @gloomy gazelle

[ashen dust]

@gloomy gazelle thanks for your help and speedy response!

[gloomy gazelle]

No. it’s different than that. It’s very strange. It’s all because how DEFI works with automated market makers (I think). Basically when you provide liquidity you allow your ilv to be sold and you get more eth in return. Or vice versa.

[gloomy gazelle]

Do some googling on liquidity provider and impermanent loss.

This link has data on what has been happening in the eth/ilv liquidity pool. It’s complex. https://analytics.sushi.com/pairs/0x6a091a3406E0073C3CD6340122143009aDac0EDa

[wintry yew]

Hm ok yea I’ll have to do a lot more research, all of this is very new to me but ILV seems very promising.

[gloomy gazelle]

Basically SLP is higher APY rewards because it’s harder and riskier than just staking single asset of ILV only. And it also helps the project.

[wintry yew]

Ah I see I see thank you sir you’ve been a great help 🙂

[whole torrent]

Claiming ILV auto compounds or just claims into wallet?

Oh i see rewards are vested

vested from the time of claiming?

[gloomy gazelle]

Claiming Auto compounds. Locked for 12 months

Yeah

And that 12 month lock means 2x weight

[rocky fox]

When claiming how many gas fees are paid? And are they from the expensive ones(like swaps etc.) or?

[gloomy gazelle]

They aren’t super cheap. It depends on what reward pool you are claiming from.

Just from the ILV only pool is the cheapest claim.

Claiming From SLP or from flash pool will make you do two transactions. First one to clear your ILV only rewards (so your other ones can be compounded properly) and then the SLP or flash rewards are claimed. That second transaction has a higher gas limit for sure.

[junior shuttle]

@glass carbon good to know. Thanks for the correction.

[gloomy gazelle]

Though the limits I think are effected by how much ILV is being claimed too. Not sure why. But I think I heard that.

[stuck spoke]

Anyone here knows if Sushi LP tokens can be swapped into other tokens? I think yes but I don't know how

should it be swapped from Sushi?

[dark bear]

Let's say I staked ILV and locked it for 10 weeks, after those 10 weeks are up am I able to continue to let that keep staking or am I forced to unstake after the 10 weeks?

[gloomy gazelle]

No. You just can provide liquidity in the proper pair.

!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.

[fierce plinth]

Finished staking, have 9 ILV locked for the year. Risky investment of course but excited to see where this thing goes. To my understanding, that 9 ILV will double with the 2.0 weight, and then the vesting rewards will also double again right?

[gloomy gazelle]

You can leave it in there and it maintains the same weight

[ruby wing]

Welcome aboard

good stuff

[dark bear]

Awesome thank you!

[stuck spoke]

Oh I see so that's why it's riskier. Thank you
I'll stake SLP anyway YOLO

[fierce plinth]

@ruby wing Thanks! We can still vote on our "Illuvinati" reps while our tokens are staked, right? I have so much educated left to do and I feel like I've read all the documentation provided haha. This will be an interesting ride.

[ruby wing]

I believe so!

[knotty dock]

if you don't mind how much did you stake?

[stuck spoke]

I'd rather not say, sorry 😅

[knotty dock]

no prob mate 😄

[shrewd ingot]

Question, do most of you guys have a lot staked? If you don’t mind telling, around much do you have staked?

[cunning perch]

most are staked. we have from single digits to thousands

[viscid venture]

When claiming your stake does it go to the website or bac in your wallet

I forgot 😂

[cunning perch]

you mean claiming rewards? or withdrawing your staked asset after a year?

[viscid venture]

Cause I’m staking for a full year atm

Claiming

Like it’s locked in for a year

When it’s done does it go in game or in my wallet

[cunning perch]

when you claim, it'll go to the vesting section and stay locked and compund to your original stake

[viscid venture]

So it’ll just keep increasing then?

Until the staking is done

[cunning perch]

when the year is done, you can either leave it there, or withdraw it to your wallet. withdrawing it would lose the 2X weight and if you wanna get it back you have to stake and lock for another year

[cunning perch]

until YF ends it'll keep on receiving rewards (as long as you keep them staked) and when YF is done you can always stake your Revenue Share and compound

[shrewd ingot]

After rewards are done vesting for 12 months, are you forced to widthraw them or can you keep them compounding?

[shrewd ingot]

What is YF

[cunning perch]

you can keep them . It's optional.

[cunning perch]

Yield Farming

[viscid venture]

It’d be better to keep rather then withdrawing back to the wallet then

Because you can use it in game and double your profit

[cunning perch]

That's what most will do. stake till forever. lol NFA

[viscid venture]

What’s nfa again

[cunning perch]

Non-Financial Advice

[viscid venture]

Gotcha

[shrewd ingot]

So once you do decide to transfer rewards to your wallet what will the fee be

[viscid venture]

What happens when you want to withdraw when you hit just say the high hundred thousand or close to millions

Will it still drop by withdrawing

[cunning perch]

any kind of transaction has to pay fees unless they are in-game. in-game transaction oare on IMX L2, no fees in game

[shrewd ingot]

So typical ETH gas fee?

[cunning perch]

whatever you withdraw will not be subject to rewards or RevDis

[viscid venture]

Yeah sweet

[cunning perch]

yep. any transaction you pay ETH fees for (not in game though, rememebr that) 🙂

[viscid venture]

I’m gonna grind eth and turn to ilv to stake then

For couple years become wealthy then just play the game for a living 😂

You think this will make people millions?

By the staking and things

[cunning perch]

It already has

[viscid venture]

Oh really?

Well lucky I got stared now

[cunning perch]

whales always make more money. for price descussion try #💰〕token 🙂

[viscid venture]

Just waiting for the game now

What’s whales?

[cunning perch]

ask it there. I'll try answering there. this channel is for staking only

[viscid venture]

Sweet

[shrewd ingot]

Jeez millions 😅 I’m just sitting here with 2 $ in rewards 😅 to be fair I just staked recently

[cunning perch]

patience is always rewarded. Price and token discussion = #💰〕token

[viscid venture]

Yeah bro I have $100 eth and $10 in ilv 😂 so I’m only on the start of it to, so I’m hoping the staking takes off in this year of staking

I’ll add more into it tho as like month to month staking that way I’m getting passive income

I’m staking BTC and other things to in my other account for more passive income

[vague sierra]

i have a question about the vesting tokens after claiming, does the vesting period give you the same APY from where the reward came from (in my case shushi LP) or does it go to the standard pool with the 111% APY?

[cunning perch]

as it compounds to your ILV stake, the claimed rewards will be considered your token, so yeah, it adds to your stake

[vague sierra]

so if it comes out of the 640% pool that vesting ILV will still keep getting same 640%?

[shrewd ingot]

Problem for me is that gas fees make it hard to transfer in small amounts without losing money

[vague sierra]

for the gas fee issues you should keep checking the prices untill they drop, normally in midweeks its bit cheaper

[cunning perch]

no. your original SLP stake will be subject to that, rememebr that rewards will all move to the single asset pool and receive the lower APY

[shrewd ingot]

What is APY

[vague sierra]

so it will recive 111% (curent APY) after you claim them

[cunning perch]

annual percentage yield

[cunning perch]

yep

[vague sierra]

thanks for the information 🙂

[cunning perch]

anytime bro

[shrewd ingot]

My understanding of the ILV Sushi LP pool is that you stake an equal amount of ILV and Sushi LP tokens and earn rewards in both of them is that right?

[cunning perch]

in the LP, you have to add equal amount of ETH and ILV (monetary value not token number) to get the SLP, then you lock it in the ILV website and receive rewards. These rewards will be locked for one year (after claiming) in the vesting section and will compound in the single asset pool. for more info I suggest reading #🔗〕helpful-links and still if you had questions don't hesitate to ask 🙂

[shrewd ingot]

Ok thanks so the rewards will be in ILV?

[hexed kettle]

Is anyone staking around 10 tokens? I'd like to know how much I'd earn

[cunning perch]

in ILV and/or sILV.

[balmy oriole]

I’n ilv

[high breach]

Just getting this straight again..

If I’ve already started staking for 52 weeks and I want to stake more.. Is that fine?

I think I remember someone saying I would have to claim my reward first before staking more

[cunning perch]

staking again will claim your rewards. so don't claim and then stake. just stake new tokens and it'll claim your rewards too

[high breach]

Awesome. That’s much less confusing than how I interpreted it the first time. Thanks

[cunning perch]

No worries. Always happy to help 🙂

[brisk surge]

it seems to takes forever to load?

it stays that way. coudnt get in on core pools. already connected my wallet (brave browser, updated, popOS linux )

[manic spindle]

I've had a few loading issues as well every now and then. Usually it was enough 1-2 times to try and open a different tab to refresh everything

[brisk surge]

probably just try again later. browsers are on default settings. connection is ok, no problems on other dapps

[brisk surge]

ill retry later maybe just some traffic on my side

[thick kraken]

Hey guys I'm back with some more questions. I was keeping track of the rewards and when I started to stake in Sushi LP, I was getting like 0.58 ILV per day. Yesterday, it went down to 0.55 ILV per day. Now it's down to 0.53 ILV per day. Is that normal? Like that's how rapid the decrease is? That's 9% decrease in two days

I started two days ago btw

Well APY hasnt changed much these past two days at 600%++. Ill keep track but I have to be honest, I aint happy with the 9% decrease so Id love to understand why and how and if it's normal

1 full year with LP

Will do, thank you

Ill take snapshots of the USD too. USD-wise, it looks good. ILV-wise is where my concern is. So maybe the ILV rate decreased because ILV price increased? I don't know yet at this point

[half shard]

Just a question, if I stake my ILV for 52weeks that mean I can't claim my rewards prior to that right? I am just still confused so new to staking. Plus I have back-read some of charity's message and said stake in SushiLP , although I know it's different from the stake ILV only.

[dark bear]

So I decided to stake more on the ilv-eth pool and I confirmed my gas transactions and everything was confirmed and my gas fees paid and confirmed but my liquidity pool tokens are still in my wallet and not staked?

Is this a bug?

[half shard]

have refreshed already?

[dark bear]

The only thing I have is my previous stake in the slp pool

[half shard]

thanks Ami, if I claim them will I be charge for the gas fee and how will I know if I have my rewards already? I didn't do SLP stake.

[dark bear]

I refreshed and checked vest

Only my previous stake

[half shard]

thank you Ami, big help. My available rewards won't disappear if I don't claim them ? like no expiration?

[willow crest]

Does anyone know how often Staking compounds?

[manic spindle]

When you claim your rewards

They pile up with every block, roughly every 15s or so, but only when you claim rewards as ILV will the 12 months vesting period start and that batch gets staked in ILV pool with a weight of 2.0 for compounding

[willow crest]

so for the compounding effect u need to claim ur rewards but then when u claim rewards theres a gas fee?

[brisk surge]

Yes

So take into account the gas fees to make it profitable

[willow crest]

and on top of that ur rewards also need to be vested for 12 months?

[brisk surge]

If you claim ilv yes

[manic spindle]

ILV yes. sILV no.

[willow crest]

but sILV is only in game currency right?

[manic spindle]

Yes, it only has ingame use (MAYBE for some pre-sales or so) as a substitute for ETH for certain fees.

[willow crest]

i understand thx guys rly appreciate the help

[manic spindle]

Don't hesitate to ask if there is more. Also, always good to check for tokenomic infos:
https://medium.com/illuvium/9-tokenomics-launchpad-and-reward-details-5894c3b356be
https://medium.com/illuvium/29-governance-yield-farming-and-vault-distribution-faq-7327ae7eb507

[willow crest]

🙂 thank you kindly

[bold bough]

after tokens are unlocked, their weight continues to be the same as when locked

[manic spindle]

Exponential weight?

If you lock for 12 months, get 2.0 weight and they unlock after 12 months, they will keep the 2.0 weighting. When you withdraw them, they lose that and you would have to lock again anew for 12 months if you want 2.0 again for those tokens 🙂

[flat lintel]

Hi guys. I staked 1 ILV for 12 months. What happens if I want to stake again for 12 months? does this have some sort of effect on my previous staking?

[manic spindle]

If you have something staked already and want to stake some more it simply is staked as it's own batch with it's own locking timer unrelated to the first batch you staked

You will have to claim any rewards piled up yet though when staking something new (this should still only be one transaction though)

[lethal kite]

Hi whales, I am a small plankton, I wish to ask if it is advisable to just stake and lock in for 52 weeks or do flexible. Is the yield lesser on flexible? If locked in means I cannot take out at all during this 52 weeks right?

Also, if I have staked something and wants to stake more, it means I have to also claim my current rewards out, meaning I have to incur gas fee and then start the staking again with more ilv but the reward ilv will be in vested mode right?

A little confused here.

[modern night]

anyone having trouble staking their ILV?

this is the 4th time we've tried but still failed.

[lethal kite]

I just saw this, so I just stake new tokens and it will auto claim and put my rewards in without gas fees right?

[cunning perch]

Staking Will claim your unclaimed tokens, yeah. You pay gas one time for both

[cunning perch]

You cannot stake new tokens? Gas runs out? or is it too slow?

[manic spindle]

Haven't tried in a while sorry, but claiming rewards worked just fine a few hours ago,

[modern night]

https://etherscan.io/tx/0x607d2631f7e7e30a04af40a10be8b0cfaeb62b28ce0ce9fcadfe5e2af7542789

[cunning perch]

I'm still trying to understand how soon is very sonn according to Aaron. lol

[modern night]

we've tried it for the 5th time really annoying now still failed

[cunning perch]

It's out of gass.

@modern night you should raise the gas limit

[manic spindle]

It says "out of gas" you might have to set a higher limit

[modern night]

I do have enough money in my wallet I don't know why it's saying not enough gas

[cunning perch]

Your limit is 250,000. Make it 300,000 and do it again

[flat lintel]

How can I claim rewards piled up if I lock it for 12 months? I'm confused sorry

[modern night]

25gwei and 250000 Gas limit

it'll reach around 18$ to stake is that an average price?

[cunning perch]

It'll def be a little more expensive yeah. Before confirming to start the process, go to the edit part above gas price (in MM) and then raise it to 300,000 and it should work. Happened to me too

[cunning perch]

Go to this and raise it

[modern night]

still not enought for this settings?

[manic spindle]

Your deposited ILV is different from your rewards. Every ~15s you will get rewards for what you staked. If that is very little, then it will take long for those rewards to be a bigger stack. Under "Rewards" you can see how much you have so far. When those rewards are big enough to justify gas costs, then you should claim them and that's when their 12 months vesting period starts.

[cunning perch]

Well as your transaction was out of gas, means you have to raise the limit for it to go through. Otherwise you'll keep losing ETH everytime u try.

[dull lark]

Parehas kami ng problema ni czenas.

[modern night]

how much GAS limit should I put? already have like 350000 plus

[dull lark]

We have the same problem with czenas

[cunning perch]

Then put it to 400,000 and see how it goes

[cunning perch]

The problem of running out of gas means you have to raise the limit, otherwise you'll lose ETH everytime you try

[modern night]

in that case I won't be able to stake I only reserved like 40$ first transaction cost me 22$

[cunning perch]

Yeah I understand. Once I lost $13 to learn it lol.

[modern night]

I see, how about the GWEI? Should we still change it?

[cunning perch]

Well if you want it to go fast, you can both raise the limit AND do the fast transaction. It'll cost NOT that much more, but def more

[modern night]

I might only be able to do average with 350,000 plus GAS limit.

the previous one that failed have 25GWEI with 250,000 GAS limit.

[cunning perch]

If the limit already says 350,000 by default and you already went out of gas, then I believe you should raise it to +400,000.

[modern night]

even if I did it on 250,000?
I did not follow the default though

[cunning perch]

Yeah this problem sometimes happens. It's not an every-day issue. Out of all the transactions I've done, only once have I experienced it.

[modern night]

Alright thank you!

[cunning perch]

No problems my friend. I hope it goes well and you stake it successfully

[visual arch]

Hi guys, for stacking rewards, do we need to claim them manually all the time or can we just leave them there until the end of our staking period ?

[karmic lark]

Hi! Is the 12 month waiting period working? It looks like I can claim my rewards straight away but I’m not sure if I should be allowed

[visual arch]

would be nice to automatically stake them as soon as they are available

[manic spindle]

You have to claim them when you deem the pile to be big enough to justify gas fees

When ILV are claimed as rewards they are locked for 12 months and automatically staked in the ILV pool with a weight of 2.0 for compounding

[cunning perch]

Hey. When you claim, it'll move to the vesting section, and stay locked for a year

[karmic lark]

Oh! Ok, then I guess I should accumulate enough before claiming them so I don’t overpay gas fees. Thanks for the answer guys

[lethal kite]

So if I want to stake more (as ILV is to the moon) but the current reward does not justify the gas fee should I still do it? Sigh, I have to go either / or right?

[manic spindle]

If you want to stake more then you need to claim your rewards but this is done in the same transaction normally.

[gloomy thistle]

Hey fam. So if I stake my ILV and choose the flexible method, that means I can withdraw my ILV anytime but the rewards I got from staking my ILV will be claimable after 12 months?

[lethal kite]

Yes but the reward is small (I am a plankton) that it will cost me more but I think for the long run it is worth it.

Anyway what is the difference between locked and flexible, the weight is different?

[manic spindle]

You already pay gas fees for the new staking. I don't think the claiming part within that transaction is so high that it equals another transaction cost on top.

Locked = Bonus rewards due to higher token weight, yes.

[lethal kite]

Wow, thanks, that cleared it up, since I am paying for the new staking

[gloomy thistle]

Flexible and locked both yields reward, but locked generates more rewards compared to flexible?

[manic spindle]

Flexible = weight 1.0 = Every token counts as 1 token for reward calculation. The longer you lock, the higher the token weight. At 12 months its 2.0 so every token you stake = 2 tokens for the rewards calculation 🙂

[gloomy thistle]

Awesome, thank you!

The gas fee though, damn it. 😢

[manic spindle]

Gas fees can be high, yes.

Gotta check individually when rewards and gas fees fit to justify a claim

[civic umbra]

Hi guys, just wondering where do you get the values used to calculate whether staking SLP is worth the gas fee or not? im unsure of how to calculate the value of SLP tokens

[modern night]

Hey Arash. Thank you, I did increase the GAS limit to 400,000 and the txn was successful.

[cunning perch]

Hurray. Glad it worked out 😁

[cunning perch]

@manic spindle can you help her regarding SLP?

[manic spindle]

That's something everyone needs to decide for themselves, I'm afraid. It's financial strategy. The workflow would be:

• You take your ILV/ETH here: https://app.sushi.com/add/ETH/0x767FE9EDC9E0dF98E07454847909b5E959D7ca0E
• You provide a 50/50 ratio of both (in $)
• You get SLP tokens back
• You take those SLP tokens here: https://staking.illuvium.io/staking/core
• You stake your SLP tokens in the Sushi LP pool with whatever locking period you want
• You claim your rewards as ILV or sILV (whatever you prefer) whenever enough rewards have piled up for you to justify gas fees

Now if the APY for the LP Pool is worth it to provide liquidity now at the current ETH/ILV prices, or when it makes sense to claim rewards, these are things I cannot advice upon, I'm afraid. How many rewards would be piled up? What would the gas fees be at that time? What long-term strategy is there in the first place? Too many variables for anyone but "yourself" to decide when something has value enough.

[cunning perch]

There you go 👆

[civic umbra]

thank you so much!

[trail jacinth]

ilv to the moon

[cunning perch]

Thx @manic spindle

[manic spindle]

When it comes to providing liquidity always consider and understand Impermanent Loss first - just to be sure here: https://academy.binance.com/en/articles/impermanent-loss-explained

[gloomy gazelle]

You may be able to use https://analytics.sushi.com/pairs/0x6a091a3406E0073C3CD6340122143009aDac0EDa to help figure some of it out.

[civic umbra]

brilliant! just what I was looking for

[gloomy gazelle]

All the best stuff is usually pinned…

[civic umbra]

oh i didnt really know what the link was...went straight to the faq

wil lgo through all the links next time!

[old nimbus]

Damn, just claimed.

Gas is lowish... but its still expensive...

Used to do it once a day

But doing it every 3-4 days now..

@livid lark in terms of gas price to rewards, its totally worth it.

Im just complaning in general

about gas. lol

id rather pay 20 bucks than 50 bucks per claim.. 🙂

[unique thicket]

Hey all, I'm still trying to increase my ETH/ILV stake and so far Ive had 2 transaction fails when trying to add more. Anyone know why this is?

[old nimbus]

oh, and im in both pools, so i need to approve both transactions.

so that doubles the cost

yeah, the IL is a bit of a bummer tho

cant complain 🙂

[bold viper]

How do I add to the liquidity pool?

I have my eth and I have my ilv

merci!

[sonic wolf]

Ouch

[astral zodiac]

What site is that?

[sonic wolf]

link is above

sushi swap analytics

[plucky tundra]

Is the AXS pool safe?

[cunning perch]

It's as safe as ILV pool 🙂

[plucky tundra]

Tks

[sonic wolf]

13% on longer timeframe

if you staked month ago it much higher. If you entered pool on June 22nd, IL is almost 114k on 100k staked

[cunning perch]

sit back and relax. it's like having found gold in the goldrush

[sonic wolf]

well with 50$ entry price, some of that ILV lost to IL was sold much cheaper then current price

[cunning perch]

well I'll happily stay and not withdraw and enjoy more rewards 😄

[sonic wolf]

also all rewards are long term cap gains in US

max 20% to fed

[cunning perch]

besides, you'll be here for 4 years at least as you will always have unclaimed ILV until YF ends

you can claim sILV if you don't have ETH to play with

[cunning perch]

paying the fed...they eat your money lol

[sonic wolf]

I am totally ok with it. I used governments help to get my college degrees and free medicaid

gotta pay it forward if you are fortunate one

[cunning perch]

hmmm. glad you're ok with it 😄

[shy pecan]

hi! can I stake 1 ILV? what are the pros and cons of staking for a shorter/longer period of time?

ps: im new to nfts and crypto sorry

[cunning perch]

well staking for a year doubles your weight. so you get more rewards, but for every claiming you have to pay gas, remember that. after the game release, you will also receive a part of the revenue based on the tokens number you have staked. there are actually no Cons to staking. but if you do, make sure it's worth paying the gas.

[shy pecan]

i see. thank you for the info! love the community here ♥️

[cunning perch]

no worries. we love you back. don't hesitate to ask whatever you don't understand.

[untold stratus]

Is there а illuvium NFT staking now or in the future?

[cunning perch]

the only staking at the moment is ILV token or SLP

[scenic olive]

Hi I’m new here! I’ve staked one ILV into the core pool for a fixed duration of 4 months. Does that mean that I will get back my initial 1 ILV after 4 months while the rewards will be inside the staking for 12 months

[cunning perch]

hey. yes. you can withdraw your staked ILV after the locking period is done, but the rewards (whenever you claim) will stay locked from the moment of claim for a year

[gloomy gazelle]

Fantastic!

[lethal kite]

Well, we planktons have to rely on the whales and the dominating whales to exercise their financial muscle to keep ILV flying to the moon and even Mars.

[cunning perch]

The moon and Mars are short-term plans. but try #💰〕token if you wanna discuss pricing. 🙂

[gloomy gazelle]

The dominating whale seems to be all about getting more ILV. Luggis is Staked heavily.

[lethal kite]

Sure sure sorry. Haha.

[cunning perch]

no worries 🙂

[lethal kite]

Long term plans indeed, at least 2 years considering the staking and vesting. Any calculations on how many ILV you need to stake in order to attain financial freedom? Haha.

[gloomy gazelle]

And the other potential whales are the pre and sees that are locked for awhile still.

[gloomy gazelle]

Haha hard to know.

[lethal kite]

Also, can I ask about the revdis again, it means all revenues will be given to token holders?

[gloomy gazelle]

Exactly

[lethal kite]

True. Haha. Must define financial freedom first.

[gloomy gazelle]

We’ll all that are staked believe

[lethal kite]

When will it happen, the revdis?

[thorn cedar]

Can someone help with a question? I've tried staking twice and have had 2 failed transactions
" Warning! Error encountered during contract execution [Out of gas]"

[gloomy gazelle]

When sales are made

[cunning perch]

1 ILV is bettr than 0. but after staking, you will always have unclaimed ILV that needs to be claimed and since YF ends in 3 years, you will be able to fully drain your account in 4 years after the first locking I believe. unless you stake your RevDis too and keep on living off of it

[cunning perch]

hey. you will have to raise your gas limit

[thorn cedar]

Doesn't make sense considering I have plenty of ETH

[cunning perch]

I suggest reading this #🥩〕staking message I helped him

[lethal kite]

I see. Revdis also paid in ilv right?

[cunning perch]

yep

[lethal kite]

Thanks for answering so many of my questions. It’s guys like you and other mods that make us so bullish and confident of things to come, of course, also because of the team behind Illuvium. Can’t wait for the game to be released.

[cunning perch]

@thorn cedar did you find out the problem?

[cunning perch]

thx bro. always happy to help. 🙂

[thorn cedar]

Thanks man - I'll try raising limit to 300k and see if it does the trick

[cunning perch]

no worries. see what defult the gas is at, then raise it another 50,000. hope it works out for you

[thorn cedar]

Just worked. Thanks a ton!

[cunning perch]

no worries. happy to help 🙂

[mint rose]

it is better to stake ilv/eth right? since the yf reward is 0.8?

[cunning perch]

if you're ok with IL (make sure you understand it fully), it'll be worth the rewards you get. That is the decision you have to make and it's only up to you.

[scenic olive]

Awesome! Appreciate the help 😊 from what I’ve seen here, it is wiser to claim the rewards once every 5 days due to high gas fees right?

[manic spindle]

That depends on the size of your staked batch. You could have so many ILV staked that even daily would be worth it 🙂

[cunning perch]

well, no one can predict gas really. and it really depends on how comfortable you are at claiming based on your stake size. 🙂

[scenic olive]

Hahaha I started small to try out at 1 ILV so I’m not really sure 😂

[cunning perch]

hope it works out for you. still, welcome aboard 🙂

[manic spindle]

In that case you want to wait longer before claiming, yeah 🙂

[scenic olive]

Thanks guys! Appreciate the help here 🙏🏻

[cunning perch]

don't ever mention it. happy to help 🙂

[brisk surge]

Hmm

[spiral flame]

I just noticed I have some sILV balance lol but I never claimed sILV

[cunning perch]

the gas is much higher than that. Don't touch it lol

[zealous bear]

Is it be better to stake a large amount of SLP for a short period of time to try avoid impermanent loss, or a smaller amount for a longer period of time?

[brisk surge]

Larger amount for longer 😩

NFA

[spiral flame]

Larger amount for longer. More apy, more ILV. NFA

[sick walrus]

What exactly is staking?

[spiral flame]

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

[cunning perch]

it's like depositing Fiat in bank and receiving money for it

[spiral flame]

Is there any way I can see how fast my rewards are growing? like how many ilv per day/hour/second?

[cunning perch]

I don't think so as APY chenges a lot. you can just time it. Like after claiming give it 24 hrs and come back and check

[brisk surge]

Yes this

[sick walrus]

Ty @spiral flame

[brisk surge]

Haven't looked at my earnings as I don't have much ilv unfortunately so I won't be compounding in the near future

[cunning perch]

I have some, but haven't claimed yet.

[brisk surge]

I think I might just claim sILV tbh

Probably when it's worthy to claim there will be more info regarding sILV usage

In my case obviously

[cunning perch]

for now it doesn't make sense as we don't know when the use case will be available. Since the APY is still high, claiming ILV is more profitable. but that's just my opinion.

[brisk surge]

Yes right now doesn't make sense

Waiting for more details on sILV, would like not to spend eth to play the game

[cunning perch]

spending ETH in game will be paid back to u through Revenue, but if you use sILV, you won't get a revenue for it as it is burned in game. So spending ETH is actually more profitable.

[brisk surge]

Revenue comes from staking right?

[cunning perch]

Revenue comes from people spending ETH in game and then the ETH goes to the treasury and the treasury buys ILV with it and distributes it to the stakers based on their token weight.

[graceful orchid]

RIP Gas Fees

[cunning perch]

not gonna touch it or I'll get burned lol

[brisk surge]

Hmm okay somewhat similar to omis burn system

[brisk surge]

Token wise makes sense but I believe the most profitable approach will be marketplace trading etc

As in playing and then selling etc

[cunning perch]

that is the gaming gain. RevDis and YF rewards are Token gains

[brisk surge]

I've also let some eth aside already to use in game as I think eth will go up in value as well

[cunning perch]

well you spend ETH, you get paid for it. You spend sILV, you might end up pumping ILV price a little.

[graceful orchid]

Current network fees 🥲

[cunning perch]

OK I'm officially gonna shoot my phone out the window 😄

[graceful orchid]

It's hilarious when it goes to these numbers

[brisk surge]

What's happening lmao

[cunning perch]

probably another airdrop or so

[mint cave]

every NFT drop like this i get like....5 more cents from mining. i'm all for it

https://tenor.com/view/nick-miller-rich-new-girl-full-tank-gas-gif-4559128

[cunning perch]

haha. planned for it I see. Enjoy 😛

[mint cave]

always have a plan!

[cunning perch]

That's not a plan. it's a master plan. Plan is staking ILV 😄

[spiral flame]

ETH should keep up with ILV. my IL is getting bigger 🥲

[cunning perch]

well, that was the risk you took. ILV pump is much easier than ETH as it's MC is pinkie considered to the big toe. So expect more IL, but hopefully the rewards will compensate and ETH will pump too.

[worthy peak]

What's IL? I stake only in the ILV pool, don't know terms of the other one.

[manic spindle]

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

[cunning perch]

you've been here since March and don't know what IL is? lol I'm gonna slap myself now 😄

[worthy peak]

ah, that notorious impermanent loss, heard a lot but never experienced yet

[worthy peak]

As i said had no plans to stake in LP, so didn't read much about it and haven't known the terms

[brisk surge]

Yh me too, never provided liquidity

[cunning perch]

haha I know bro. 😄

@worthy peak is the man. nearly took us to $20 lol

[worthy peak]

I intuitively felt that there can be losses of ILV, so not my thing

[worthy peak]

well we all would be lucky to buy such deep!

[cunning perch]

We did, brother, we did 😄

[wintry yew]

hey all quick question

[worthy peak]

meh not me, my best buys were around 40 if i remember correctly

[wintry yew]

where do you all buy ILV

[ruby wing]

!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

[ruby wing]

Sushi :))

[cunning perch]

still a big win 🙂

[wintry yew]

thank ya 🙂

[worthy peak]

yeah, can't complain

[wintry yew]

If i buy on sushi with coinbase can I convert that to metamask?

[ruby wing]

You should transfer ETH to your metamask and swap on Sushi

does that make sense?

[wintry yew]

yea can i transfer the eth from coinbase -> metamask?

[lethal kite]

Hi @cunning perch , I am holding axs shard and if I stake them on the flash pool, is it as save as the ILV core pool? Also, it is flexible not locked right?

[ruby wing]

Yes you can transfer ETH 🙂

[wintry yew]

ok cool

[ruby wing]

AXS pool is not locked

correct

[wintry yew]

ill get back to u if i figure it out xD

[ruby wing]

Once the ETH is in your metamask, go to Sushiswap and follow the instructions in #❓〕faq or #🔗〕helpful-links

if you have any issues

lmk

[lethal kite]

15.94% apy but better than nothing so I can claim the ilv at anything but if claimed, it will be vested immediately?

[cunning perch]

Yeah it's not locked and it's also as safe as the ILV pool. You just stake it and get rewards, though the rewards will be locked after claiming (you claim and then it moves to the vesting section and stay locked for one year after the claim)

[lethal kite]

For flash pool is there a duration when it will end and when it does it will return the staked axs shard?

[lethal kite]

Noted!😆

[ruby wing]

14 days from the first date it opened (I forget how many days are left)

[lethal kite]

What does it mean? Just 14 days only?

[ruby wing]

Thats why its a flash pool 🙂

there will be more with other tokens in the future

[wintry yew]

@ruby wing some guy with a similar name as you tried to dm me to impersonate you, not really sure why he'd do that or what he would gain lmao

[cunning perch]

Flash pools are just active for 2 weeks. All of them.

[lethal kite]

Snx and xyz are completed. So axs will be the next to complete, will they cycle flash pool again? Not sure huh. Ok noted but 14 days is quite short

[ruby wing]

I will never DM you

!scam

[woven ibex]

This is a reminder to never give out your private key (12 to 24 word seed phrase) to anyone. Nobody in the team will ever ask you to send ETH.

There has been increasing activity of DMs in this Discord related to scams and fake giveaways. Any giveaways/promotions will be announced on official channels. Not in Discord DMs. #🚨❗〕report-scammers in the linked section with a screenshot of the message you got in DM's.
Also include the "@ username" in text and we will ban them.

We are growing fast and there are targeted scams going around. Only trust links from official channels.

[wintry yew]

Ik lol its just weird that someone else would

[ruby wing]

@wintry yew please post in #🚨❗〕report-scammers

thanks

[lethal kite]

Ok, I better get in now. So the axs will go back to my meta after flash pool ends?

[wintry yew]

doesnt make much sense, you gotta be pretty dense to fall for it, will do!

[cunning perch]

You're someone’s idle now 😁

[ruby wing]

People have...

[ruby wing]

You know you have made it when....

[manic spindle]

You have to withdraw manually

[cunning perch]

Manually withdrawing 😉

[lethal kite]

Woo, cost $5 to allow the staking. Haha.

[lethal kite]

Oh, that is ok, but another gas fee will occur?

[cunning perch]

Yep. Any transaction is paid with fees

[lethal kite]

🥵 ya.

[cunning perch]

But hopefully you get ILV for it and ILV hits thousands of Dollars and these fees will be nothing

[lethal kite]

Nvm it’s well worth it!

[lethal kite]

Exactly my sentiments.😆

[cunning perch]

That's why everyone is here. Game gains aside, tokenomics gains on the other side

[lethal kite]

Will there be an announcement when the flash pool ends?

[wintry yew]

@lethal kite r u invested in axie?

[lethal kite]

Ya, that’s why I have the axs shards.

And my profile pic.

[wintry yew]

Yea i saw the pfp lol

[ruby wing]

Soon it will be an Illuvial 😉

[cunning perch]

I didn't really understand bro. when you connect your MetaMask to sushi and swap ETH with ILV, ILV moves directly to your MM

[umbral imp]

my bad, im dumb, i wanted to use a diferent metamask account between each my platforms

but if i just use the same i can do it at once

[cunning perch]

you can always transfer tokens inside MM. you have to pay gas though. if that's what you meant

[lethal kite]

Hahah who knows!

[umbral imp]

right, im quiet of a noob, but got it now, thanks for your help man

[cunning perch]

Ah no worries. 🙂 glad it worked out

[lethal kite]

May I ask something again haha. For the core pool, how do you stake the eth/ilv pool? Also why does it has more weight given?

[cunning perch]

It has higher APY due to Impermenant Loss (losing your tokens), so for that your get more rewards so it would compensate your loss. for staking, you need to add an equal amount of ILV and ETH (monetary value not token number) and then get the SLP and stake it in the pool

[manic spindle]

• You take your ILV/ETH here: https://app.sushi.com/add/ETH/0x767FE9EDC9E0dF98E07454847909b5E959D7ca0E
• You provide a 50/50 ratio of both (in $)
• You get SLP tokens back
• You take those SLP tokens here: https://staking.illuvium.io/staking/core
• You stake your SLP tokens in the Sushi LP pool with whatever locking period you want
• You claim your rewards as ILV or sILV (whatever you prefer) whenever enough rewards have piled up for you to justify gas fees

If you never provided LP before though, make sure to understand IL: https://academy.binance.com/en/articles/impermanent-loss-explained

[lethal kite]

Is IL only affecting those who are involved in LP?

[cunning perch]

@lethal kite full answer 👆

[manic spindle]

Yes

[lethal kite]

If I use my AXS or get ILV to stake, will there be IL too?

I see, thanks for the answer, I have never been involved in LP before. My basic knowledge is buy a certain crypto coin or currency and stake, that’s it. No wonder the examples in the IL binance academy link states 2 different currency eth and dai.

Thanks stormi, ami and arash for the education again. It’s like not only for Illuvium, I get to learn more jargons, ropes and things about crypto and all.

[cunning perch]

the greater the risk, the greater the reward, but there is a catch to be mindful of.

[cunning perch]

no worries feel free to ask whatever your don't understand. 🙂

[lethal kite]

Of course. I guess it is after all investing.

Sorry, it might not be really staking but let’s say if I use fiat to buy eth now but it is high, so I will get lesser eth but the eth’s current value will be able to get the corresponding ILV value right? My brain is a bit warped like, should I wait for eth to drop so I can get more eth and get more ILV? That’s not the case right? #sendhelp

[manic spindle]

You could wait and it could mean you get more for your money but it could easily mean as well things go up and you get even less. Crypto is volatile, you need to make your own call on this. We cannot give financial advice, sorry.

[lethal kite]

Oh, noted, not looking for FA, just thinking of numbers. Because my other experience at Axie creates some confusion due to the axie price being tied to ETH value.

Thanks stormi!

[slender ocean]

guys

how often do you claim rewards and restake them for compounding

[ruby wing]

when rewards > gas

[brisk surge]

Depends

[ruby wing]

or every week-2 weeks. It really depends on ur bag

[slender ocean]

so 1ILV is fine?

[ruby wing]

no do not claim 1 ILV

wait till it is larger

[slender ocean]

like 10 is ok? or 5?

[ruby wing]

I am waiting to 10

ya

up to u and depends on gas

[slender ocean]

ok... so you claim from all pools... then stake again

[ruby wing]

It auto restakes

[slender ocean]

oh...

[ruby wing]

you just claim LP first and it will claim both pools

make sure you put the same GWEI for both

if u are in both

[slender ocean]

imma try now so i can see what it looks like... i got 6.73 currently

in both? meaning ILV and ILV ETH?

[ruby wing]

like claiming 6.73 is fine if Gas were lower

Which pool are u in?

[slender ocean]

6.73 in ILV ETH

1 in ILV only (these are rewards)

[ruby wing]

Ok ya I would wait until there are more in the single asset pool 🙂

[slender ocean]

ok but i can do the LP now right... just to see what happens

ok maybe i wait a bit more... youre right gas is high

[ruby wing]

If you claim LP it will claim both

[slender ocean]

ok... i wait a bit more...

[ruby wing]

Ya especially since gas is 36 Gwei

try to claim around 10 🙂

[slender ocean]

tnx for the tips

david... i dont know about xyz...

but i staked on AXS and im getting only 16% APY

lot of whales in AXS i think

[ruby wing]

Ya whales flooded the pool

rip

[slender ocean]

is 200 ILV good enough to retire on 😆 if the game does well

[real nacelle]

200ILV ? what price are you aiming for

[sonic wolf]

at 10k per ILV, its pretty good stack

[real nacelle]

hahaha

[slender ocean]

200ILV now is like 1000 in 1 year if you stake it right

[sonic wolf]

exactly

[real nacelle]

I don't understand how you get to that 😅

[slender ocean]

650% APY is x6 correct?

200 * 6 is over 1000... simple enough

[worthy peak]

APY will degrade over time, it will not be the same all the year i suppose🤔

[ruby wing]

Check out the token release schedule

!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

[real nacelle]

interesting thanks :p

[worthy peak]

Meh so what, i need to sell my other kidney to ape in in the LP? 😱 Can a person live without kidneys?🤔

[ruby wing]

I think you can survive with only one

[slender ocean]

you can buy back 1 when the tokens are unlocked

[worthy peak]

Already sold one to by ILV and put it in the ILV pool😅

[slender ocean]

good play... approved

[slender ocean]

so 650% is not 650%?

[ruby wing]

Wdym

[slender ocean]

david confused me

am i right that if you stake 200 in LP youll have 1000 by end of year?

[ruby wing]

Yield might decrease that isnt guaranteed

Like if we get whales that flood the pool

[slender ocean]

thats why we just shhhhh until we get a big enough return

[ruby wing]

What do u think I have been doing 😉

[slender ocean]

kidding

[ruby wing]

shhhhh

[slender ocean]

haha

[ruby wing]

don't tell the normies

https://tenor.com/view/baby-running-oops-wrong-way-gif-7939302

[slender ocean]

my lips are sealed...

[ruby wing]

Nah Im kidding

tell everyone about the game!

[slender ocean]

hey i have a question about leviathan arena... lets say i put up a bet against any challenger for 10 ETH

and then all these challengers have full transparency on the illuvials ill be using... they accept

[ruby wing]

Lets go to #💬〕general

[slender ocean]

isnt it unfair for me not to have a chance to look at the challenger and not have a chance to decline? or will the match start automatically

[ruby wing]

to discuss

[lost dove]

any reason for the high APY? Is there that big of a shortage of liquidity? I just bought my first batch of LIV and saw that APY, it seemed oddly high for a solid project. I get it if it is a AMM ponzi but it just kinda spooks me.

[ruby wing]

Read the tokenomics mate 🙂

!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

[lost dove]

just read this, only 1 milliion are currently unlocked? Do you know when more will be unlocked?

[ruby wing]

No shortage of liquidity at all. Quite the opposite...

[lost dove]

yep, that was a bit lazy.

[ruby wing]

Max token supply will be 7-10 Million depending on amount of sILV claimed

[ruby wing]

Lol ya dont come in saying its a ponzi without doing research

Just strong tokenomics

[lost dove]

Read what I said. It said the opposite. It is such a solid project, I was spooked by the APY because a lot of AMM are basically ponzi's using their token to attract liquidity. I already bought LIV, I am just trying to understand the project better. And you are right, I hadn't done my dd.

[ruby wing]

Good, I understand what you were saying haha

Happy to answer any questions

the yield is just a function of the token distribution and being early

over time it will drop as more whales enter the pool and the decreasing amount every fortnite

[lost dove]

ty- I am aggressively trying to evaluate as many play2earn projects as I can in a short period of time. I am basically just reading and trying to play if they are funcioning. I listened to the interview w the founder and was super impressed w LIV. I went ahead and aped in and now considering just continuing to DCA

[ruby wing]

Very good decision

I am here for the team and the vision that they have

been here since the balancer sale and have locked most tokens for 12 months

[lost dove]

TY- I have already learned a lot about the space. Really impressed with the graphics of LIV

I locked my tokens as well

[ruby wing]

just wait 😉 Gameplay soon

#🚰〕leaks im assuming you saw these

[lost dove]

nope, ty, just now checking it out.

how has the community been growing?

[manic spindle]

By almost 10k or so the last week

[ruby wing]

something crazy like that

[manic spindle]

Crazy growth already but just getting started

[lost dove]

yep-that is what I wanna see

[ruby wing]

good to hear, apologies for being defensive mate

[lost dove]

nah, I don't blame you, looks like a sick project. I am just trying to figure this out.

[ruby wing]

Plenty of us are super knowledgeable so fire any questions you have in #💬〕general or #814313779696238642 and we can answer 🙂

[midnight patrol]

excuse me guys
just a newbie question
did they already release the open beta registration?

[lost dove]

TY- I am going to read the medium article right now.

[sonic wolf]

nope

[midnight patrol]

Thanks!
i will be alert xD

[manic spindle]

Closed beta this summer. Selection process still to be announced. Open Beta (=launch) End of Year

[midnight patrol]

alright thanks!!

[versed hare]

Guys back im back again with questions. Sorry. Is there any info on plans in 2022? Im planning to lock for 12 months but cant decide as i havent seen any plans past march 2022.

[sonic wolf]

Imagine LPing 100k in sushi 6 days ago?

30k loss to IL

[manic spindle]

Mobile launch is already planned for next year. Also - please ask non staking related questions in #814313779696238642 or #❓❗〕community-help for example 🙂

[ruby wing]

Rip

[versed hare]

Just thinking of ideal lock period for a stake.

[ruby wing]

Depends on your bag and liquidity needs

[versed hare]

Yes been thinking of that as well and other factors

[ruby wing]

Yup

also depends on which pool you plan on going in

[versed hare]

The core ilv pool was what i was thinking

Too scared of the unknown on the other one. I dont think i fully grasp impermanent loss to be honest haha

[ruby wing]

Makes sense

if you have a bigger bag, some people lock for different period

depend on gas

[versed hare]

I only pay gas when i lock right?

Does it get bigger as i stake longer?