🥩〕staking

[abstract comet]

how many fees is that?

staking, claim ilv, and claim ilv-eth?

like $60 right now? A bit steep

[junior shuttle]

best wait for gas to go down

[wooden geyser]

okay thanks

[gilded wigeon]

Guys can someone help me out? i just tried staking earlier and got a failed transaction, gas fees are kinda steep so want to check on here first before trying again

It said out of gas but i have some eth on my wallet pretty sure it's enough for the fees

[junior shuttle]

probably a gas limit issue

check to see what gas limits other ppl are using for successful transactions and set yours to that

[full lagoon]

Can you stake in ILV only without claiming rewards in Sushi LP?

[modern comet]

https://etherscan.io/gastracker
you can cek gass fee in there site

[modern comet]

I feel you still need to claim rewards

[ruby wing]

If you are in both pools, you need to claim both because when you claim LP it will auto claim single asset

[sinful hatch]

why are more people staking just ILV and not the ILV/ETH SLP for the higher return??

[ruby wing]

Impermanent loss

check pinned messages 🙂

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

[abstract comet]

I was asking more about the number of transaction fees for staking/claiming/withdrawing etc. In other words, not the gas price but the number of Gas units consumed for all these contract interactions. It's not completely transparent, but I guess I'll just figure it out through trial and error.

[gilded wigeon]

Hi , i just did another stake so it required me to claim my silv rewards.. where can i find the sILV claimed? sorry if this is a noob question

[ruby wing]

You will need to add the contract to your metamask

one second

https://discordapp.com/channels/760344898200666112/859866659011690537/869068655969845309

here is the contract, let me know if you need help adding a custom token to metamask

[half idol]

when you claim both pools, it charges the gas fees x2 (one for LP and another one for ILV alone)?

[ruby wing]

Correct, this is the cost of being in both pools

so I wait till gas is low around 10 GWEI

[abstract comet]

Is this only in that direction? If I am in both pools and claim ILV rewards, will I also be forced to claim ILV/ETH rewards?

[ruby wing]

I think you need to claim the LP first. I havent tried claiming single first, maybe check pinned messages 🙂

[inner grove]

I think if you claim in ILV-only pool, it wont force you to claim rewards from LP

[ruby wing]

I still have been told that you should claim from LP pool first, not sure exactly why but there is likely something in pinned

[polar apex]

this is correct. you can claim in ILV only without claiming the LP rewards.

[gilded wigeon]

@ruby wing Thanks for your help 🙏

[ruby wing]

Gotchu mate

[polar apex]

i’ve done it when i got sticker shock on the gas lol

[half idol]

how often does that happen? is there like a special time of the day when gas fees go down? Sorry if this seems a very basic question 😉

[ruby wing]

!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.

[mint cave]

usually on weekends, specifically sunday, gas is lower

[abstract comet]

Thanks, lots of useful info in there.

[ruby wing]

Great!

I will try to answer anything else 🙂

[abstract comet]

Also, got the 2 spreadsheets 😄

[ruby wing]

haha very useful

makes me wish I had more ....

[ember basalt]

hello, I want to claim some ilv rewards, can I just set a lower gas fee (like 15 gwei) and wait for it, even if it takes a day? or is it going to timeout and i'm gonna waste my gas fee?

[ruby wing]

As long as its not crazy low like 2 Gwei you should be good

if you are claiming from Both pools, make sure when you claim, both tx are at the same gas fee

[ember basalt]

alright, i'll set it to a reasonable 15. thanks

[ruby wing]

Check pinned just to confirm, there might be strategies that have been discussed

[ember basalt]

thanks

[ruby wing]

no worries mate

[stuck spoke]

i'd have an anxiety attack if the transaction would even take longer than 2 min 👀

[ruby wing]

I have heard someone tell me if you arent waiting 30 minutes at least you are paying too much for gas lol

[gloomy gazelle]

I’ve heard 30 minutes

[ruby wing]

Correction haha

[honest wraith]

what are the benefits of staking? Sorry for noob question ;D

[ruby wing]

Big yield and revenue distributions once game launches

!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]

!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

[gloomy gazelle]

Is your wallet not connecting to the staking page? Try clearing the browser cache.

[knotty heron]

Hey guys, im new to staking, i want to stake my ILV and lock it away for the 12 months, i think this project will do well, is staking beneficial compared to just holding the coin normally?

[ruby wing]

Yes staking is beneficial over just holding. Especially considering the current APY

if you plan on holding for the next 12 months anyway, you might as well lock. 1. you wont let emotion get in the way, 2. big yield.

!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

[knotty heron]

So the sushi lp pool says 637% APY, does that mean im guarenteed to make 637% gains over the 12 months?

[ruby wing]

no

It is dynamic and changes with how many people provide liquidity

there is also impermanent loss risk, check pinned for more info

[knotty heron]

Hm so the normal ILV pool is more volatile? And the ILV/ETH one is less volatile?

[ruby wing]

no, normal ILV pool is less risk

because there is no imperm loss risk 🙂

[knotty heron]

ah right

[ruby wing]

lmk if u need help:)

#🔗〕helpful-links Medium 28 is useful af

[knotty heron]

so lets say i think the project is going to do well in the next 12 months, and i want to make gains from it doing so, staking in the ILV/ETH would be the one id chose? more risk/reward?

okay thanks

[ruby wing]

In theory, you also need to ensure it is worth it in terms of gas fees

because you will need to claim your rewards, which is more expensive in LP

[candid plover]

Generally doing ILV/ETH you think ILV and ETH will go up the same percentage. When they divert from each other (like ILV has done lately) it causes impermanent loss and you lose ILV in the pool to balance out the ratio. The hope is that the yield rewards make up for the loss due to IL

[knotty heron]

Okay thanks guys

[ruby wing]

No worries mate

goodluck

[gleaming mirage]

Hello guys, just wanted to ask what is the minimum ILV do I need to make staking worth it?

[knotty heron]

Okay I am officially staking! My first time ever lol

[gloomy gazelle]

Any amount. But there are gas fees for transactions like claiming rewards and withdrawing. So something that is more than that I guess.

[gloomy gazelle]

ILV was my first for a lot of things. Welcome to the club

[gleaming mirage]

yeah I was planning to buy 5 ILV when it was at 120$ but my money is locked on other crypto that time. now I probably can only get 2 lol

[gloomy gazelle]

Oof. Oh well still won’t be too little I’d say.

[full lagoon]

What is acceptable gas fee when you do swap?

[ruby wing]

10> GWEI imo

depends on ur bag

[gloomy gazelle]

Don’t post this in here.

[full lagoon]

Staking is smooth. Just staked in ILV only pool!

[junior shuttle]

nice!

[gloomy gazelle]

It is good to note that when you either stake more into the same pool or withdraw from a pool you will first be required to claim/vest your rewards. So make sure you don’t claim them on your own right before that. No need to waste gas if you can help it.

[full lagoon]

I already have a stake in SLP pool when I staked now for ILV only it did not prompt me to claim my rewards in SLP pool.

[gloomy gazelle]

Because it’s a different pool

[shrewd tree]

Is the LP alive on Sushi only?

[rain shoal]

Hey Frens! What's the current APR on staking ILV in the non LP pool?

[golden pecan]

Hi, its my first time staking and I was a bit weary when It asked me to approve permission for the smart contract to access ILV unlimitedly...

Is there a limit I should set, or anything I need to look out for when approving smart contracts?(new field of knowledge so i want to be cautious...)

[foggy mica]

this is my first time staking as well, so where are my ILV tokens stored once they are being staked? Metamask? just trying to make sure ive secured myself

[golden pecan]

(good questions guys)😁

[foggy mica]

I am a noob with this stuff but I was able to stake with very little ILV

[spark breach]

Yep, connection was wrong - so i guess there is no minimum

[silent spire]

Finally, earned 1ILV by staking in about 3 days 😍😍

[foggy mica]

nice!

[spiral flame]

feels really good right?

[silent spire]

Thanks, yes 😍😍. Will restake after 10ILV

[thin patrol]

how much have you staked to get 1 after 3 days?

[tacit mesa]

prolly more than 3k USD 🤑 🐳 hahaha

[dense relic]

That's only 1ETH. If he's getting 1 ILV in days with 1 ETH...that's amazing.

[foggy mica]

so I just started staking, is it possible to instantly restake your rewards, I am still a bit confused on how that works

[tacit mesa]

i base that from when i staked.. so this means, he has more bags than that if he purchase 3-5 days ago (ETH and ILV rocketed already that time)..

[tacit mesa]

when you claim your rewards, they are automatically vested and restaked for compounding.. please see 📌 in this channel.. upper right corner..

[foggy mica]

okay so based on what I read in those pins, I should just let it sit for a while until there is significant ILV to claim, to justify the gas fee

[tacit mesa]

correct.. no one can gauge that but you.. plenty of guys have different strategies for it.. so youd have to find that out . eg. 1x/2x a week, when 10 ILV, when gas is lowest, just whenever they like..

[foggy mica]

okay, thank you for your help, and sorry I have one last question regarding that, when the rewards are restaked, are they locked for the same time frame I chose for the initial staking?

[tacit mesa]

they will be different depending on your last stake.. but i havent tried that yet.. much better to wait for someone who knows.. they told be itll be merged/consolidated as one.. but i still havent tried..

[cloud silo]

So i just staked my first ILV
In the rewards, i can either claim sILV or ILV. ILV is the token/crypto, and sILV is the ingame currency, am i right?

[foggy mica]

yes

[foggy mica]

okay, thanks for your help, I am very new to crypto in general so I am generally confused at most times lol, learning every day though

[thorn oasis]

I believe rewards are staked for 365 days regardless or initial stake period? I could be deadass wrong tho. But when i claimed mine, it was 365. I staked for 365 days tho for my initial

Again, not 100% sure. Just my experience

[foggy mica]

Yeah I staked initially for 365 days, so you are saying when I claim rewards, those are lumped in with that and I can withdraw everything at once at the end if I so choose?

[thorn oasis]

The rewarded ILV you claim counts towards compounded interest that you get. But they might have different claim times

For example you have 1 ilv at 365 and 1 ilv with 200 days remaining. Your interest will be calculated based on 2 ilv

[silk meteor]

All claimed ILV rewards from both core pools are locked 1yr from the time of claim regardless of your pool lock status

[thorn oasis]

^ theres the definite answer we need

[foggy mica]

thanks for the help guys

[tacit mesa]

to add to that. ETH is the main currency as what they said.. but sILV will also be used..

[tacit mesa]

good to hear.. fairly new to crypto too.. has a steep learning curve and needs a lot of invested time to study cuz its growing very fast everyday..

[tacit mesa]

yeah,.. this depends on how long you had stake.. if you staked a month then they will be available/unlocked in the vesting tab after a month

[foggy mica]

I come from the gaming community, so play to earn has me very interested. I am also hoping for a play to earn shooter so I can put my skills to work lol

little off topic but yeah, ill leave yall to it lol

[tacit mesa]

there is one.. and u earn satoshis..

[civic umbra]

Just a question about the 3 year time frame for yield farming, on medium it says "Note: Yield farming is set to take 3 years with a significant majority of the coins distributed in the first two."
Will this mean that after 3 years the 4 million ilv will have finished distributing and we will no longer be able to stake anymore?

[polar apex]

at that point, if you stake ILV you will be entitled to revenue distributions from the proceeds of the game

but yes, no more staking rewards in their current form

[civic umbra]

so you will need to stake in order to be eligible for the rev divs?

[final steppe]

Yep!

[civic umbra]

so im guessing from year 2 we wil lno longer be able to stake for 52 week periods and get the 2x weight?

i know its all a while away but just wanted to get a clear picture haha

[polar apex]

i don't see why you wouldn't be able to, unless they will do a new pool after the 3 year staking period is over

[foggy mica]

u refering to lightnite?

[civic umbra]

if the current system is designed to distribute all 4million ilv from yield farming over 3 years exactly then staking for 52 weeks from say the 2nd week of year 2 would mean you dont get anything from the final week? (i.e. year 3 week 1)

[foggy mica]

thats good, I wasn;t sure on that answer either

[foggy mica]

isn't the game supposed to be out by then?

[civic umbra]

oh im getting the years wrong, i meant if you stake from year 3* not year 2 so add one year to what i said

[civic umbra]

yes it will be but i am just curious about how the staking will work in the future

[foggy mica]

yeah I am not sure, im super new here. I know ILV holders will get payout from in game sales but I am not sure if ILV will still be staked at that point

[civic umbra]

from what i have read and what @polar apex typed above, we will be entitled to revenue distributions from fees charged in the game by staking

[polar apex]

the ILV must be staked to be eligible for the revdis

[foggy mica]

thank you for repeating that, I am slow 😂

[polar apex]

no problem

i think it would be helpful if some of the articles around illuvium were updated to include some of these frequently asked questions; a lot of stuff you only pick up after spending time on here.

[foggy mica]

yeah, I am sure these answers are somewhere, they are just a lot of potential questions for newbies like me, community been super helpful so far

[civic umbra]

Sorry this is probably a dumb follow up question, but will SLP stakers be eligible for any revdis or only ILV?

[exotic igloo]

SLP pool receives RevDis yes

[civic umbra]

awesome thanks for confirming!

[polar apex]

thanks, lemme delete my comment to not mislead then

can i follow up and ask how SLP can receive revdis? is it measured by the dollar value of the SLP at the time? as i understand the ILV value is in flux

[exotic igloo]

It knows how much each SLP token represents ILV

You would have to ask Aarom on the exact maths

[final steppe]

Hey Seika-- just a slight correction here.
Yield Farming rewards through the staking protocol will be in the amount of 3 million tokens.
1 million tokens is set aside for **in-game **yield (e.g. tournaments, quests, challenges, etc)

[spiral flame]

im curious about the exact maths.

[final steppe]

I'm not entirely sure if the in-game yield will be fully distributed within the first 3 years though 🤔

[civic umbra]

This is from the tokenomics page, the treasury 1 mil and yield 4 mil looks to be separate unless there's been changes

oops 1.5mil*

[final steppe]

Yup! 3 million yield through staking + 1 million in-game yield = 4 million total yield

[civic umbra]

ahh i see! thanks for clarifying

[finite shale]

What's revdis

[final steppe]

All in-game purchases and fees in ETH are sent to the Vault contract. Periodically and automatically, the Vault contract uses the ETH to purchase an equivalent value of $ILV from the $ILV/ETH Sushiswap pool and that $ILV is distributed to staked token holders in proportion to their stake 🙂

[silent spire]

About 5K AUD.

[thin patrol]

okay thanks :)

[final steppe]

Vault Distributions
Revenue Distributions
RevDis
revdis
🙂

[finite shale]

Ah. That's a bit clearer. Revenue distribution

I roughly earn $5 worth a day with my stake 😂

[final steppe]

That's still a beautiful thing, man!

[finite shale]

I mean yeah, if I put it in a bank... It would give me $0.001 a day? Hahaha

[final steppe]

Now time for it to growww

[silent spire]

What is bank?

😄

[finite shale]

Where you hide your biscuits

[silent spire]

Oh, idk I only do steaks or stakes

[finite shale]

Thank God you said that. I put out a steak for dinner, but I winded up eating take out... Almost forgot to put it back in the fridge 😂😂😂

Not even a joke at this point

[silent spire]

Cheers. You stake and eat your steak 😄

[finite shale]

Anybody think that eth will go down back to $1900

Or is it straight shooting upwards

[smoky canopy]

How much have you staked to earn $5 per day?

[finite shale]

16 ILV? But I locked it in for a year 😂

[silent spire]

Depends on ETH hard fork on August 4, EIP-1559. Might lower the gas fee and increase people interest.

[finite shale]

Oof. I guess Ill get some before.

[smoky canopy]

😂Oh wow, alot... Thanks for the info.

[finite shale]

I bought my ilv when it was $110

Still high. But at least I see growth

[dreamy bramble]

Hi, I just want to confirm that the rewards on your stake will be locked up for 12 months. so you can only claim your initial stake?

this is what i read: Rewards claimed in $ILV are subject to a 12 month lock, whereas sILV can be claimed and used in-game immediately.

[silent spire]

Thats great, I got in about $200

[thin patrol]

lol me as well

[finite shale]

Well to be fair. I bought 4 when it was that low

[silent spire]

Seems that way, sILV can be used in-game as soon as the game launches. However, sILV can't be re-staked.

[finite shale]

And I wasn't even in this discord yet. Basically when I knew nothing about crypto.. Right about the time I went into axie

[silent spire]

Yey, I also kindda missed AXIE. But now, I believe in this project more. I went all in for 12 months locked.

[finite shale]

Yep. If the alpha flops, I'm not going anywhere. Alphas are supposed to flop most of the time. Haha

[silent spire]

Are you on ILV staking or ILV/ETH liquidity pool staking?

[quasi patrol]

Anyone knows the proportion of each pool that the Vault distributes to? The official medium said equal weighting, but FAQ said based on the number of tokens locked in each pool

i mean the vault distribution.. the same as Yield rewards weight?

Got it! And the Vault also goes to Seed/Team? How much?

[inner grove]

For those staked in LP, Will rev dis consider the dollar amount or just the ILV component of it?

[iron vector]

You shouldn't. It's already baked in and eth is due for a correction to around 2300 right now.

[finite shale]

Hmmm. I was thinking about it.. Have a lot of usdt stacked for eth/btc purchases

[iron vector]

Just stay patient. Everything depends on whether BTC bounces off the 200 or the 50 ema.itll bounce off the 200 short term, but it should continue down

[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

[iron vector]

The 50 at about 3600 is the big one. If we bounce off, we have a bull..if we don't, we are going down

[hexed roost]

Guys waiting for gas to come down, anyone used zerion to receive SLP in their Sushi ILV/ETH Pool? Seems the easiest way to add supply then get SLP but would like some feedback

has anyone staked that SLP in the ilv pool

[inner grove]

If in LP, ILV amount < total amount bec part of it is Eth, right

Thank you

[spiral flame]

If my ilv value became 15k and eth became 15k, my position in the pool would be that of 30k usd value, correct?

[brisk surge]

I guess

[merry ridge]

Would London hardfork cause some problems for SLP?

Just checking

[digital kindle]

I've used Zapper and was able to stake that SLP, Zerion should work the same way

[hexed roost]

zapper seems to have removed the capability but cheers

[quasi patrol]

Thanks

[digital kindle]

I still see it in Zapper

[hexed roost]

Weird I type in ILV and only see ILV not the pool

[digital kindle]

Pool > ILV / ETH > Invest

Go to Pool tab, then filter ILV

[hexed roost]

Didn't have my wallet connected cheers

[thin patrol]

happends to often haha

[woeful pendant]

Is there a way to just claim the SLP rewards? Looks like when I claim the SLP rewards, it also auto claims the ILV pool rewards which I don't want it I have to pay gas on claiming ILV pool rewards as well

[thin patrol]

are they not split like this?

[woeful pendant]

for the core pool, I claim ILV on the SLP pool, it will also auto claim on the ILV pool

[final steppe]

Hey Hooch!
Nope-- it's set up to automatically claim any pending rewards from the ILV-only pool as well.

[queen patio]

What app is this?

[thin patrol]

its not a app its from the website

[woeful pendant]

hmm, was hoping it could be done independently as I have to pay gas for that trx as well.

[thin patrol]

https://staking.illuvium.io/rewards

[queen patio]

Oh got confused by the axs

[queen patio]

Thanks!

[woeful pendant]

was hoping something where i claim more regularly on SLP than the ILV pool

[thin patrol]

yeah they added you can stake AXS

[exotic igloo]

You cant only claim the SLP pool rewards

#🥩〕staking message

[final steppe]

@cloud trout Interested in staking? https://medium.com/illuvium/28-everything-you-need-to-know-about-staking-ilv-6669594b2fac

[rustic forge]

hello, where can i infos abt staking? i just join this discord and super new to all this. thank u 🙂

[final steppe]

Just posted a link right above your message haha-- good timing 😄

[rustic forge]

yea thank you so much 🙂

[final steppe]

No problem! Also recommend looking through the pinned messages in this channel when you get a chance ⬆️

[rustic forge]

i read and did not understand much, but hopefully after reading the link, i can understand better. once again thank you 🙂

[tight torrent]

Is staking forever with this game?

[kind loom]

3 years, started June 30th, 2021

[kind loom]

Yield farming is 3 years but I think staking is forever since you need to be staked to receive RevDis

[brisk surge]

anyone has a guide to understanding the difference between ILV pool and ILV/ETH LP on sushi? which core pool should i stake?

Thx once again😅

[tight torrent]

Why do they allow withdrawing from pool? Aren’t they gonna lose money on that? Sorry noob question

[thin patrol]

depends on when you do it

[cunning perch]

withdrawing happens once the locking period is done. If they want to sell it, then they'll withdraw. Withdrawing will cuz losing your "X weight and revokes the right to receive RevShare

[thin patrol]

and fees

[cunning perch]

well they pay fees for that sure lol

[thin patrol]

haha

[tight torrent]

But flexible can be withdrawn anytime right? Yessir

[cunning perch]

yeah. well some people are here short term and they don't want the Rev and will sell for profit. That is their decision

[tight torrent]

Thanks Jax and Arash. Arash you are everywhere man. Thanks for the answers 😆

[thin patrol]

Arash is active AF haha

[cunning perch]

No worries. happy to help. I love it here and love the community. 🙂

[thin patrol]

what he said

[cunning perch]

haha. Wait till you see Speedy @ruby wing can't beat his speed lol

[swift fog]

noob Q - If i decide to do the sushi pool and create SLP to stake - when the holding period is over do you get SLP back and convert it back to split it into Eth/ILV or does it remain SLP for good?

[tight torrent]

I might be here for staking as well. I dont know if I will enjoy the game sadly. I am more of an fps guy and less with mmorpg or pokemon gaming woooh

[cunning perch]

when you withdraw you can unstake from SLP and get whatever ETH and ILV you have left back. unless IL has burked all your stake

[cunning perch]

there will always be investors and/or gamers. Investments will bring you gains, and Gaming will be the bonus gain.

[swift fog]

Is the sushi a better option if you plan on staking the full 12 months because the APY will outweigh the potential IL?

[cunning perch]

Make sure you understand IL. Higher APY definitly runs the risk of Impermanent Loss. More risk, more rewards.

[cunning perch]

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

[swift fog]

yeah its such a hard decision at this stage of the crypto cycle....there is no way either coin will hold the ratio of worth and they are far from being correlated to each other. Maybe the normal pool is better for me.

[cunning perch]

I myself went with the normal pool since I knew myself and knew I didn't have the stomach to get some IL. But maybe I was wrong. This is a decision you yourself have to make and you yourself have to live with it.

[polar apex]

may be useful for your consideration. i am feeling the pain for sure....

[thin patrol]

I went with the normal pool as well rather be safe than sorry

[swift fog]

but doesn't the end pain depend on the ILV token price when they are unlocked after the 12 months? $amount could genuinely be worth more than the ETH lost

[polar apex]

you wont lose in absolute terms, but you could easily have less USD value compared to holding single asset only

assuming both go up but ILV rises faster than ETH. if they both go down then yeah you will lose

[cunning perch]

The more ILV pumps, The less ILV you'll have in the SLP. that's the simplest def

[swift fog]

Sure...yeah its feeling like my brains not at the level to comprehend the full sushi liquidity setup. I've always been hesitant to enter liquidity pools, but I still want to be earning and on the early (ish) end of a crypto game launch.

Thanks for the advice

[cunning perch]

NFA haha 😄

[cunning perch]

remember this: by the time Revenue starts flowing in, YF rewards will be considered little bonuses.

[swift fog]

& thats all dependent on continuing to stake, even in the normal ILV stake, beyond the 3 year initial reward point?

[cunning perch]

you can stake as long as you want. even after 5 years (after YF finishes) you can still stake and lock your Rev Share. the more tokens you have, the more Rev you will receive

[swift fog]

is it kinda correct to assume that the average sushi pool person is taking advantage of the bigger APY for a much shorter time frame to get some reward?

[cunning perch]

the ones in SLP is def getting more rewards. But they also have undergone some IL. However, they have also been compensated for it with more rewards. I suggest reading all about it in the link I sent you above. Sometimes overthinking won't be helpful. Make sure you make a decision based on your needs, plans and capacity.

[honest wraith]

So if I’m understanding this right, as long as ILV or ETH doesn’t lead the other ( as in not increasing faster than the other) the ILV/ETH pool would give me the highest rewards back should I stake it for the full 12 month??

[cunning perch]

yes. The high APY will give you more rewards. It runs the risk of IL. ILV is more susceptible to pumps as it has a tiny MC compared to ETH. So the risk of ending up with more ETH and losing more ILV is higher than the other.

[brisk surge]

I’ve personally read a bunch of articles on IL and it’s just a bit too much for me to get my head around. Or like, I understand it in theory, but still find it hard to make my assessment on that pool Risk-Reward wise

decided to just leave it to the big brains out there

[cunning perch]

#🥩〕staking message

[gloomy gazelle]

Basically you can’t lose more ILV than you put in. So maybe in the long run the APY will reward you with more than that anyways. But maybe not.

[brisk surge]

Thanks, yeah that part makes sense. I guess what I've struggled with is a solid mental model / way of understanding it completely in such a way that it makes it easy for me to assess the risks/rewards vs the normal pool, as in, comparing the risks but also not forgetting the the 600 vs 100% apy difference

but anyway thanks, will stick to the normal pool for now

[gloomy gazelle]

Yeah I get it for sure man. I’m heavy in ILV only pool. Light in SLP

[cunning perch]

🐳

[gloomy gazelle]

Lol not even

[cunning perch]

I'm allergic to the word HEAVY haha. I mistake it with Whale 😄

[gloomy gazelle]

🦀

Just talking about my ratios

[cunning perch]

hah I know. Just messing around 😄

[gloomy gazelle]

Maybe

[lethal kite]

I myself am new to crypto also so my mental capacity is limited to ILV pool only, SLP too complicated for me. Anyway, revdis any idea what might be the payout per ILV?

[cunning perch]

nope as the game is not out yet

[sly vessel]

Hey, I staked like 5 ILV but when I look at the staking details I only see 1.35 liquidity provided by me

how do I look at the details of how much I have staked?

it says 1.35 sp

but i locked away 5 ILV... so i'm confused

[cunning perch]

did you lock in ILV pool or SLP? (sushi Liquidity Pool)

[lethal kite]

I see.

[sly vessel]

both, but I'm referring to SLP

[cunning perch]

whatever you stake on the website will be shown in the vesting tab with a duration of lock. It should be like this

[sly vessel]

went to sushiswap, did that bit, then went to ILV and did that bit

is SLP worth more than $200?

[gloomy gazelle]

Yeah

The SLP token contract is pinned in here

[sly vessel]

oh that must be it, 5 ILV equated to like 1 SLP or whatever

[obtuse galleon]

After you staked your ILV tokens, does the reward give you both sILV and ILV?

[gloomy gazelle]

It is different than that actually. It’s a combined value of the eth and ilv. Minus IL

[gloomy gazelle]

It is your choice when you claim them

[sly vessel]

I believe SILV can be claimed so you can play the game while still locked

[sly vessel]

so 1.35 SLP is worth a thousand bucks or right?

[cunning perch]

you can chose either. everytime you claim you have to choose. ILV will stay locked for a year while sILV will be released immediately

[sly vessel]

where can i check the price of SLP?

[obtuse galleon]

Oh okay, as long as ILV tokens are locked, let's say 1 year, I can claim sILV right? But the rewards for ILV will be reduced because you lend it to sILV am I right??

[cunning perch]

as long as you're staked, you can claim sILV as rewards. The rewards will be reduces when APY drops (as more poeple join in). Claiming sILV will not add to your ILV stake and therefore won't generate rewards. If you want more rewards, you should claim ILV as it compounds to your stake and therefore generates more rewards.

[obtuse galleon]

Ok now it's much clearer. Thanks!

[gloomy gazelle]

If you connect to the ilv staking website it will tell you how much value you have staked in the SLP pool.

[cunning perch]

no worries 🙂

[brisk surge]

am i able to add more to my stake after i initial set my first?

[cunning perch]

ofc. you can add as much ILV as you want.

[thin patrol]

Yes you an add more to the staking pool

[thin patrol]

fast again haha

[cunning perch]

😄

[brisk surge]

just checking, ive had some issues before with other staking where if i added more to my stake it would just disappear

[thin patrol]

that seems like a really poor staking service - What was the name of it?

[gloomy gazelle]

It is good to note that when you either stake more into the same pool or withdraw from a pool you will first be required to claim/vest your rewards. So make sure you don’t claim them on your own right before that. No need to waste gas if you can help it.

[brisk surge]

atomic and with tron

[barren tusk]

Wakes up, gas is disgusting, goes back to bed

https://tenor.com/view/donald-duck-cant-sleep-sleep-goodnight-bed-gif-16907183

[sly vessel]

Where?

[thin patrol]

on dashboard

[sly vessel]

I can see how sushi lp I have under my liquidity

[thin patrol]

https://staking.illuvium.io/rewards

[sly vessel]

Oh, I see now, under dashboard.

So my theories were correct.

1.35 slp= 2241 dollars

[thin patrol]

I just wish AXS APY was higher in staking

[eager rover]

If AXS had other staking options probably

[copper dawn]

Do we know what percent of the vault will be frequently used in buying ILV for distributions? 100%, 50%, 10%? I'm essentially asking if all funds in the vault will be distributed or only a % of it.

[cunning perch]

100% of the Revenue will be distributed to the stakers

[copper dawn]

will a piece of the Leviathan arena matches go into the vault?

[iron vector]

Does it make sense to stake into both pools so I increase my ILV and get in game currency?

[copper dawn]

You can, but keep in mind you'll be paying double the ETH transaction fees

[cunning perch]

whatever ETH that is generated will be moved to the treasury and the treasury buys back ILV and distributes it to the stakers

[cunning perch]

Game Currency is mainly ETH, but you can use sILV for some in-game stuff. You do not need ILV to play the game

[iron vector]

So what is sILV? I should load up on eth then

[copper dawn]

That leaves open many sources of revenue for the vault. With a 500k player base doing a small percent of these revenue cycles/streams, that could generate a volume of more than $1billion/day.

[cunning perch]

sILV is a reward. when you stake ILV, you can choose to claim your rewards every time. You can either choose ILV and/or sILV. claiming ILV will add to your weight and generates more rewards, but stays locked for ONE YEAR after claiming. sILV on the other hand is used in-game along side ETH for some IN-GAME purchases (does not generate revenue) and is immediately released but has no other use case and cannot be used in anyway other than in-game

[cunning perch]

That's why RevDis CAN be a giant gain which will lead stakers to stay staked like forever. The real gain in being in ILV is RevDis as it considers the number of tokens you have staked.

[lethal kite]

Hello, when the axs flash pool is completed in 8 days, we will need to manually retreive the axs and the reward will be vested right?

[iron vector]

So are there epochs where rewards are released in the form of currency we want? If I'm staking my ILV and the beta comes out, will I be able to choose to have some of my rewards come out as sILV mid-stake to use in game?

[cunning perch]

the rewards will be locked and you will have to unstake your AXS (and pay fees) I suppose

[lethal kite]

yup, got it.

[gloomy gazelle]

Correct. Yeah no need to claim before withdrawing

[lethal kite]

I can only imagine is $1 billion is distributed...and every ILV get $100

[gloomy gazelle]

Except what is required when withdrawing.

[cunning perch]

ofc. you can choose to receive sILV whenever you feel like to. For now, sILv has no use case, that's why most claim ILV and will also plan on using ETH rather than sILV, as ETH generates revenue which will be used to buy back ILV and receive RevDis for it

[iron vector]

Oh okok

[cunning perch]

no one knows as the game(s) is/are yet to be released

[lethal kite]

ya you told me, I was just imagining...

[copper dawn]

Assuming the game takes off and the player base grows, that can result in huge amounts of gains by simply staking.

For example, if you own only 50 ILV and we have 1mill ILV in supply at the time, that's 0.000714285% of the total supply. Assuming an average 5% fee for the vault on all transactions, a $1billion/day volume would produce $357/day for the 50 ILV staked. 1billion volume is small..

[cunning perch]

it can be as low as $1 per token per month (or even lower lol) or as high as a shit ton of $ haha

[cunning perch]

before the release of the tokens (however linear) the first months of the release we might actually see insane amount of RevDis (as there are fewer players/stakers). (locked seed tokens will also get RevDis) but as you said, if the number of players grow and a lot of Rev is generated, RevDis can be insane. The true gains are there and in-game.

[lethal kite]

It will only be so IF the game BOMBED and no one is playing...

[cunning perch]

these are mere speculations. We'll figure out once the game is out. But for token discussions let's use #💰〕token let this channel only be for #🥩〕staking 🙂

[lethal kite]

ya sure sure

[half idol]

Hi, when I stake in one of the pools, the APY changes with time or it freezes when the staking starts? Like a fixed termn?

[cunning perch]

Hi 🙂 the more people join, the lower it gets.

[final steppe]

Variable. So it won't stay at the same rate when you first locked in.

[half idol]

Ok, I see

[glad saffron]

What Arash said, but also if the pris keeps going up the ILV/ETH pools APY goes up 😄

[half idol]

why is that? Like if the price starts going up it may generate more atention and more people would join, and that causes the APY to drop right? (By the way I am not confident in this reasoning at all lol)

[glad saffron]

I'm am not 100% sure. But think it has something to do with the pris for ilv goes up more than ETH. If that makes sense 😉

Like a compensate

[iron vector]

What is revdis

[eager rover]

Revdis is revenue distribution. When players purchase ingame items with ETH, the ETH gets sent to a vault. The vault then purchases ILV from the sushi pool and distribute it to stakers.

[iron vector]

To just staking in the ilv/eth pool or both pools?

[eager rover]

To a couple. The ILV/ETH pool, ILV only pool, pool that has seed/preseed/team tokens, and to the treasury.

[iron vector]

Sweet so in theory I could stake ILV and stake it and get rewards over time to play the game for free?

[eager rover]

You could stake ILV to earn locked ILV or sILV AND earn RevDis to do whatever you want with.

[deft echo]

I have a question. What’s the difference between staking ILV/ETH and ILV?

[cunning perch]

Sry, was away. Hope you got the answer 👆🙂

[deft echo]

Thank you that answered my question

[iron vector]

Sweet

[long wing]

Not sure if I should go with Sushi pool with super high APY or other one. What is suggested?

Would be locking for about 14 weeks

[brisk surge]

You should take into account impermanent loss in sushi lp

It's really up to you, currently there is no obvious answer

[long wing]

Safer option is just straight ILV staking?

[brisk surge]

It is safer I'd say

[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

[drowsy wigeon]

did u lose eth or ilv on ur IL?

[ruby wing]

lol what do u think

[drowsy wigeon]

im still having trouble understanding IL. the price of an asset goes up, it needs to balance the pool somehow so one asset gets taken out?

[ruby wing]

kinda ya

my ILV balance is lower

[drowsy wigeon]

but then that 600% apy will make it up plus more tho correct?

[ruby wing]

maybee 😉

[brisk surge]

Who knows 🤔

[thin patrol]

that speculatory - not 100% guaranteed because of impairment loss

[valid kite]

How long have y’all been locking your ILV for?

[manic spindle]

99% = 12months. RevDis > token selling in my opinion 😀

[thin patrol]

I have it unlocked - but i am changing it to a year

[valid kite]

I am a little confused, so can I take my ILV or sILV profits within those 12 months ?

Or can I only claim rewards after my 12 month lock period

[manic spindle]

Claiming can be done regardless of lock or no lock. Claiming ILV does always lock rewards for 12 months though. Staked for compounding then

[valid kite]

Okay thanks

[naive cloud]

Here's a math question for our IL Experts: Say I put in 10 ILV and 1 ETH today into SLP (assuming that lines up 1:1 USD) and stake for the full 12months. ILV goes to $2k in 12 months and ETH stays near where it's at today. What will my final ILV and ETH balances be, NOT including the rewards claimed?

[gloomy gazelle]

There are impermanent loss calculators you can find and use for free

[eager rover]

https://dailydefi.org/tools/impermanent-loss-calculator/

[gloomy gazelle]

Like this one

[gloomy gazelle]

Thank you sheep

[naive cloud]

Boom!

[gloomy gazelle]

@wanton nova I read the question better. And answer is simple

[wanton nova]

Sry I thought I was in the staking channel

[gloomy gazelle]

Your locked amount when unlocked stays weighted as it was when locked

No worries

[wanton nova]

Thanks a lot 👍

[gloomy gazelle]

I would have answered there honestly.

Usually most staking questions are complex.

But that one is simple.

Check some of the pins in here. There’s a lot of good info you may have missed

[wanton nova]

Yes. See you around :)

Will do 👍

[vague thistle]

Why is ILV pool 100 and Sushi 600? Why the huge difference?

[honest wraith]

Higher risk but it gives higher reward

[vague thistle]

What makes one riskier than the other?

[ruby wing]

Imperm loss

[vague thistle]

ELI5? :)

[copper dawn]

I would google "impermanent loss" or look at some videos on youtube. You can find sushi swap's definition here: https://docs.sushi.com/faq-1/sushiswap-faq#:~:text=CoinMarketCap defines impermanent loss as,but gradually returns to the

Essentially, you risk having a lower return if the value of the coins increase while staking in the liquidity pool.

[vague thistle]

Ty

[copper dawn]

Also, when the game launches and redis begins, it will be an extra reward in the ILV pool for all staked ILV.

[austere vault]

who her would lock it in for a year ?

here*

[vague thistle]

Read it. I don't get it lol

I think I need to spend a day reading about liquidity pools

Let me ask a different question. I staked in ILV, but would you stake Sushi and if so, why?

[elfin wren]

I’ve seen some of you say that if you ain’t waiting 30 min for gas to push a transaction thru, that you are paying to much. So just wondering when is the best gas price to wait for? Around 20 or so?

[eager rover]

https://ethereumprice.org/gas/

[elfin wren]

I’ve been using gasnow.org but is that website better or is it just based on preference?

[eager rover]

Up to you, that website kind of tells you when the lowest gas is available.

[proud pawn]

if you redeem rewards from the stake, what speed will the redemption be or you can adjust the speed (gas) yourself

[elfin wren]

Alright thanks!

[hot saddle]

I didnt see the "LOCKED" tab for staking. I did flexible but I want to do locked for 52. I do not see an unstake button to change to locked. Anyone able to help?

[midnight geyser]

Hi, which pool did you stake in? Also, you are able to unstake in the vesting section

[hot saddle]

in flexible.

[midnight geyser]

but which token? ILV? SLP? or AXS?

[hot saddle]

ILV

[midnight geyser]

Okay, you can check it in the Vesting tab of the website

[hot saddle]

i see it! thanks Pedro!

[midnight geyser]

Anytime 😄

[wild dagger]

would you recommend putting all of your ILV into the first pool? that way its not sitting in the wallet doing nothing

[thin patrol]

Yeah there is not reason to have it chilling in the metamask wallet NFA

[wild dagger]

@cunning perch what did u mean by not claiming?

u mean like the rewards from the pool?

[cunning perch]

Haha I misunderstood your DM. Yeah. When you stake you have to claim, otherwise your rewards will not add to your weight and will stay there idle.

[wild dagger]

yea that makes sense, so in that case it would make sense to put ALL of your ILV into the first pool after buying it?

@thin patrol also curious to hear what you would say to my question 👀 ^

[cunning perch]

Well pool depends on your plans. If you can take the risk of IL (Impermenant Loss) then SLP is ok for you. If not, single pool is. But make sure you read about all of it in #🔗〕helpful-links

[thin patrol]

You can trust what @cunning perch recommend or say i do at least

[cunning perch]

Haha. Thx for the credit 👍

[thin patrol]

agreed

It's a lot about personal opinions, the situation you are in, how much of your money you are using and a lot more factors

[wild dagger]

just to be clear, there are no risks with the first pool correct? and you can take out your ILV at any time

[cunning perch]

By first pool I believe you mean The Flash Pool? If so, yes you can unstake anytime you want, but the rewards will stay locked for a year after claiming. The Core pool is different.

[wild dagger]

oop by first pool I meant by this one

I havent looked into the flash pool yet, so its pretty confusing at first glance ngl

[cunning perch]

in the ILV only pool you can lock your tokens as long as you want (up to 1 year) then they will stay locked until the time runs out. The rewards, however, after claiming will move to the vesting section and will stay locked for one year regardless of how long you have locked your original stake. @wild dagger

[thin patrol]

You can also choose in the first pool that you don't want them locked buy the APY is lower - I made it so they were unlocked and from personal experience was that a bad choice @wild dagger

[cunning perch]

Ok I'm officially gonna sleep now. 😁 👋

[wild dagger]

okie gn! thanks for the tips

[thin patrol]

The second pool is where you can stake others tokens like axie's AXS and get ILV as a staking rewards

[cunning perch]

No worries 🙂

[thin patrol]

good night😴

[cunning perch]

Nighty night 👋

[wild dagger]

wait sorry I didnt understand what you said 👀 are u talking about the core pools?

[vague sierra]

hi, quick question if i claim my rewards and i have staked in both IVL pool and Shushi pool do i have to pay 2 times gas fee or will that happen in 1 transaction?

[ruby wing]

2 tx fees

[vague sierra]

hmm so thats why it promt such high amounts i thought it was because the high gas fees, do you know if they have any plans to sepperate them that you can choose to withdraw only the pool you click on?

because what is happening now is that one pool cummulates alot faster so i want to withdraw only that one and keep the normal IVL pool running till it collects more

[manic spindle]

This had to be done due to a variety of things in order to keep gas fees down in general for claiming,compounding etc. I don't think it will be changed.

[vague sierra]

thats a shame, so the only option we have to to wait when the gasfees drop and claim at those times

[thin patrol]

yeah the eth prices are just way to high atm

[wild dagger]

@thin patrol @ruby wing ik I ask this alot but I want to make sure.... just to be clear the first pool has no risks right? unlike the second pool that has a chance for Impermanent Loss

[ruby wing]

correct (there is still risk with locking tho in terms of liquidity and token)

but yea no IL in single pool

[thin patrol]

and there is the risk of ILV would lose value - but that could happen even if you don't stake

[thin patrol]

I'm in that pool as well :=)

[wild dagger]

:o

[wild dagger]

u mean the risk of the liquitiy over time right? like the value of it goes down

im trying to do hella research for these pools so I can expect the unexpected 😎

[ruby wing]

sorry I was confusing, I just mean more general risk of locking up ur $

im just trying to say nothing is risk free

[thin patrol]

Like always

[wild dagger]

Aaah okok fair enough

[wild dagger]

Oh yea! Forgot to ask, what was your strategy when dealing with the first pool? Did you put everything you had into it or were u cautious

[thin patrol]

I was personally very cautious at the start because i did close to no research so i started with some of the profit i got from axie ($100)

But i did the wrong thing and accidentally stalked them as unlocked - So when i get profit from axie again im putting like $150-200 in locked for 1 year because i have now researched it and believe in it

[wild dagger]

Mhmm okok

[wild dagger]

What’s the problem with staking them as unlocked? Did you lose that 100?

[thin patrol]

give me a sec

[wild dagger]

Lol okie

[thin patrol]

This is unlocked or flexible

And this is staked for 1 year

Double the amount - Plus ILV is not going to be used in game so you don't need it ready - you can just put it to the side and get all the revdis

[manic spindle]

Locking your stake also means more RevDis

[wild dagger]

Aaaaahhh I see, so you want to lock it that way you get the APY of 106%

[wild dagger]

Also sorry but what do you mean by RevDis?

[manic spindle]

Revenue Distribution.

[thin patrol]

yeah and as stormi said higher Revenue Distribution.

[manic spindle]

100% of all revenue is given back to staked ilv holders. Check article #9 and #29 of the medium blog

[wild dagger]

So you pretty much want to always lock ur stuff in the pool

[thin patrol]

Do you need anymore help or have we clarified it for you?

[thin patrol]

Depends on the pool

[manic spindle]

For you to decide. Locking means no withdrawal possible regardless what token price does

[wild dagger]

I see hm okok

[wild dagger]

Just to be clear, Revenue distribution is the money you’d make from the pool correct

And thats the same as APY?

[thin patrol]

No

APY and Revenue distribution is 2 different things - APY is Annual percentage yield its how much you earn back from your initial investment a year - Revenue distribution is where percentage of the Revenue from the game goes to you every time someone buys something

@manic spindle did miss something with Revenue distribution I don't have fully hang of it

[manic spindle]

Players pay for stuff. Game creates revenue. You get a share, paid out as ILV. As mentioned, please read article 9 and 29 of the medium blog. Links are in #791148036935516161 if questions remain come back 🙂

[wild dagger]

Okok I’ll give it a read, thank you

[wild dagger]

Also that seemed like a good explanation thank you very much 🙂 you are very helpful

[thin patrol]

No problem i have to give it a second read "article 9 and 29 of the medium blog" just to be sure

[wild dagger]

uh.. I cant find the article, I looked at the website in #791148036935516161 ...

[thin patrol]

give me some time i have to finish something and then i will find it for you

[wild dagger]

okok thank you

https://docs.illuvium.io/whitepaper/game-overview Im pretty sure its this one, but I looked everywhere and I cant find it

[thin patrol]

yeah sry im here now it's not from the white paper - he said a medium article

okay so you go to this link: https://medium.com/illuvium - Then you read article 9 and 29 :)

[full sedge]

Hey guys

is IL Going to make a massive difference? It seems I may only lose a percentage of my original asset, but the crazy APY will make up for it right?

[ruby wing]

check pinned

IL calculator

[full sedge]

Ooh nice

[vague thistle]

What is TVL?

[thin patrol]

Total value locked :)

[thin patrol]

https://coinmarketcap.com/alexandria/glossary/total-value-locked-tvl

[halcyon dust]

Hey guys, new here. Am i understanding this correctly? It is fine to lock your ILV as it is not actually used in the game?

[ruby wing]

Correct

ETH and sILV will be used in game

sILV can be earned through staking

[keen verge]

How do I get SLP? When I add in the liquidity pool?

[thin patrol]

If you are not planning on having the money somewhere else yeah for sure!

[halcyon dust]

okay understand. May aswell do this as i see this game longer term.

[final steppe]

Correct! Once you provide your ILV and ETH to the Sushiswap liquidity pool, you'll receive SLP tokens 🙂

[thin patrol]

would be smart since locking gives better APY and revdis

[halcyon dust]

Where can i read difference between sushi LP / ILV ?

[thin patrol]

https://medium.com/illuvium/29-governance-yield-farming-and-vault-distribution-faq-7327ae7eb507

[halcyon dust]

Thank you.

[keen verge]

I’ve added into the liquidity pool so sushiswap will send me SLP? Or do I have to withdraw it? Cause I can’t seem to find it, sorry I’m new to this

[thin patrol]

np

[final steppe]

You should automatically receive the SLP. It's another token so you likely still need to manually add it to your wallet.

If you're in your wallet and you select the option to add a token, the ILV/ETH SLP contract address is: 0x6a091a3406e0073c3cd6340122143009adac0eda

[final steppe]

Another option would be to just go to the Illuvium staking website and just attempt to stake in the Sushi LP Pool. When you click the button to stake, it will show you if you have SLP tokens to stake here:

[hushed nebula]

Hello, im new can anyone walk me through on this so to Stake on the Sushi LP pool i need to buy Sushi tokens? or just ILV?

[final steppe]

Hey Ciarra! The steps for staking in the Sushi LP are below:
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

[keen verge]

Thank you so much

[hushed nebula]

Thank you!

[valid kite]

Do you know about inpermanent loss?

If not read up on that before you stake in the sushi LP pool

[sinful hatch]

beware of the extra Gas involved too

[halcyon dust]

I don't really understand it is quite confusing. But I think I will just go with the normal CORE ILV pool sound safer and less confusing.

[final steppe]

@hushed nebula What Jesse said! I included an article for you as well in case it helps 🙂

[valid kite]

That sounds like a good idea, it’s easier and still offers a pretty good APY

[hushed nebula]

Okay thanks guys looking at it now.

[valid kite]

If you are playing with a lot of $ the SLP pool can be profitable, you just need to be careful

[final steppe]

!yf I think we have a video linked in this bot response as well (if not, I apologize!) @hushed nebula

[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

[final steppe]

Agh.. sorry, that's a different video than I was expecting. Sorry 😦

[sinful hatch]

I have staked in both and my opinion (Not financial advice) that unless you are fully across impairment loss and are not investing a large amount to make the Gas Fees worth it, stick with just staking ILV. Much simpler but still very effective at 100%+ APY

[halcyon dust]

Impermanent Loss
is pretty much just price change of a token right? in a dumb down definition.

[oblique kettle]

I’m going to stake in the main pool

[vague thistle]

Stake it all. All in. Never look back. Moon

[valid kite]

The difference in price change turns into a loss for someone providing liquify

[valid kite]

Key word is “stake” not farm

[vague thistle]

I'm taking out an equity line of credit on my house and staking it

[full sedge]

It’s more expensive to claim sushi rewards instead of ILv rewards?

[full sedge]

That’s what I’m doing

All in sushi

[final steppe]

Yessir-- since your rewards from the Sushi LP are then vested in the ILV only pool and locked for 12 months, you will start earning rewards in both pools.
If you have rewards in both pools, when you claim your Sushi LP rewards, it will also automatically claim your ILV-only pool rewards too and you will pay gas on both transactions

[full sedge]

Oh so it’s main double the fees

[final steppe]

Correct

[full sedge]

But the rewards will outweigh the fees, so I’m fine with that

[trail hornet]

Looks like the way to go is stake ILV. I will give this a go

Where is the link to stake ILV? I don’t see it in the medium article

[vague thistle]

Illuvium.io

Drop down menu

[trail hornet]

Ah thanks. Do you know if staking works with the coinbase wallet?

[oblique kettle]

@trail hornet No it does not

[trail hornet]

Ah rip, ok. Let me try to get another one working

[vague thistle]

No

I did Metamask

[oblique kettle]

I did metamask as well. Just connect your CB wallet to metamask and use the browser in MM to connect your wallet to Sushi.

[full sedge]

Stake ILV = low risk, lower reward

Stake Sushi = high risk, higher reward

[halcyon dust]

I am staking in both pools 70% ILV STAKE and 30% sushi STAKE

[oblique kettle]

Whats the difference?

I don’t understand staking Sushi.

[halcyon dust]

https://medium.com/illuvium/29-governance-yield-farming-and-vault-distribution-faq-7327ae7eb507

[oblique kettle]

I get staking ILV but what do you mean by staking Sushi? New here and new to Sushi

[thin patrol]

You can stake SLP

[full sedge]

Why didn’t you go 100% sushi?

[thin patrol]

probs because of risks and double fees

[halcyon dust]

The risk, and also not 100% understanding

[oblique kettle]

So you can stake sushi swap tokens?

[thin patrol]

no its called Sushi liquidity pool

[thin patrol]

https://docs.sushi.com/products/amm-exchange/liquidity-pools

[oblique kettle]

And you can buy SLP on Sushi I assume?

I’m confused. lol

[ruby wing]

Good strat

[halcyon dust]

You need to read the links it helped me a lot @oblique kettle

[ruby wing]

wish I did 70/30

[thin patrol]

maybe give the article a read

[ruby wing]

Ya, you gotta read, tons of conversations in pinned

and in the medium

[halcyon dust]

Thanks now the hard part done. I can just sit back and enjoy release of game

[sinful hatch]

to obtain, you need to stake ETH and ILV. Once that happens, you receive SLP. From there , you stake that

[full sedge]

What percentage are you ?

[ruby wing]

around that

[oblique kettle]

So you need to stake ILV to obtain SLP.

[vague thistle]

What's SLP?

Sushi LP?

[oblique kettle]

Sushi liquidity pool

[ruby wing]

Liquidity Provider tokens that represent a specific amount of liquidity provided to the Sushi Pool

[oblique kettle]

First time hearing about it

[ruby wing]

you then stake those tokens on the ILV staking website dashboard

[tranquil obsidian]

not really a buy. as you would already have equal amount of ETH and ILV. and it’s like “combining”them in 50/50 ratio to become SLP….

[ruby wing]

please search this channel and read more

there is sooo much info + convos that we have had

[paper parrot]

hello stakers

[ruby wing]

once we are at 100K discord members, not everyone will be able to be spoon fed 🙂 just an FYI

[vague thistle]

When you claim sILV, does that require ETH gas?

[tranquil obsidian]

yes

[paper parrot]

i haven't staked anything but will be using money to capture exquisite illuvials

[vague thistle]

Well that sucks

[ruby wing]

every move of assets / tx requires gas

[sinful hatch]

FWIW, buying ILV and staking that is a great way to get involved. The SLP part is a bit more advanced with a few extra steps needed

[ruby wing]

on layer 1

[halcyon dust]

@paper parrot Do you own ILV?

[oblique kettle]

I’ll start with staking my ILV and then look more into SLP. Thanks guys!

[paper parrot]

not yet ):

[oblique kettle]

Just made my first ILV purchase today and am glad that I did!

[paper parrot]

nice how many did you get

[oblique kettle]

4

[paper parrot]

SHEEESHHH

[oblique kettle]

I’m going to DCA

[halcyon dust]

I was watching price at 150$ next days it is 250 lol

ILV 1000 is a chance if game goes main stream !

[oblique kettle]

I know . I was watching the price for two weeks. It was torture but DCA has always worked for me.

[thin patrol]

yeah we were talking 10k 100k lol

[halcyon dust]

Not that ILV price matters to much I am just using it to earn rewards so i can enjoy game and earn ETH via playing

[oblique kettle]

I know I’ll probably end up playing more, but I’m sticking with my format.

I’d just like to know what’s moving the price so much!

[copper dawn]

That low market cap! doesn't take much money to increase the price at the moment.

[oblique kettle]

Very true. The market cap is amazing on ILV. High demand will send this to the moon. Okay maybe I’ll buy some more now.

[copper dawn]

24mill of new money would push the price to about $280 per ILV

[oblique kettle]

@copper dawn are you staking all?

[manic spindle]

#💰〕token please for price discussion 🙂

[wary sandal]

has anyone ever made a staking calculator in excel for Illuvium?

if so can someone link it please

[sinful hatch]

not sure how this would go given the variable nature of the APY but someone smarter than me may be able to come up with something

[halcyon dust]

Hey mate, i just staked 50/50 eth / ILV not long ago. Do i recieve SLP tokens straight away?

[final steppe]

Hey Matt! You should automatically receive the SLP. It's another token so you likely still need to manually add it to your wallet if you’re not already seeing it.

If you're in your wallet and you select the option to add a token, the ILV/ETH SLP contract address is: 0x6a091a3406e0073c3cd6340122143009adac0eda

Another option would be to just go to the Illuvium staking website and just attempt to stake in the Sushi LP Pool. When you click the button to stake, it will show you if you have SLP tokens to stake here:

[copper dawn]

Yea I'm currently staking

[oblique kettle]

Looks like all in is the move.

I’m still a little confused about SLP but I’m on a train right now and will do more research when I get back to my computer. My GF is rolling her eyes at me right now and asking what’s more important than paying attention to her. I looked up and replied “ILV” 😂

[halcyon dust]

Thanks for that.

[kind loom]

She will understand when you will get back home in a Lamborghini.

[copper dawn]

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

[copper dawn]

yeah I staked 100% of my ILV for 12 months. It makes sense and protects me from soggy paper hands. I'm also looking forward to the revdis when the game launches.

[oblique kettle]

Okay thanks! I’ll stake it all!

[copper dawn]

Awesome man. As long as it fits into your financial risk!

[kind loom]

Same! No matter how the price drop or moon, I'm staying staked for at least 3 years.

[oblique kettle]

Yes! Golden rule of investment. Don’t invest what you can’t afford to lose!

[thin patrol]

5 years for me

[kind loom]

LFGGG! As far as the RevDis are good and Illuvium keeps producing amazing games, I'm not leaving!

[thin patrol]

yeah if what you said stays healthy i will prob as well

[tranquil obsidian]

you get ILV or sILV .. not SLP as rewards

[wild dagger]

Which pool did u go full in 👀

[copper dawn]

ILV core pool.

[kind loom]

I think he means that when you provides liquidity to the ETH/ILV pool on Sushi, you should receive immediately SLP token in your MM, then you can stake.

[wild dagger]

Honestly might do the same, trying to get a good understanding of everything before I go all in. First pool looks a lot safer

[copper dawn]

If you're thinking about staking, I would read up on the risks behind both pools, look at if you wish to lock it or stay flexible, and consider gas fees. Also, if you do lock for 1 year you should be comfortable with knowing many tokens will be unlocked in march 2022. Read the whitepaper and invest/stake if you're comfortable with the tokenomics.

The ILV core pool does not have the risk of impermanent loss and you can begin collecting revdis as soon as it launches. The APY is fantastic at the moment, but it will lower as more ILV is staked.

[rain parrot]

Kieran mentioned in a recent interview he's had interest from whales over the last month wanting to know more about the game before they pull the trigger and buy ILV. He then followed that up by saying that's likely the reason for the price action

[oblique kettle]

I saw that interview, but that was like yesterday. The price has been moving like crazy for the last month.

[abstract comet]

I dunno, big price action is all relative. Even in stock space, doubling isn't a huge deal for high growth small cap. In crypto space, market cap doubling is super common.

[oblique kettle]

Yes but its more than doubled in the last month 😂

[abstract comet]

oh, I'm looking at since inception.

price drop was part of overall crypto bear market I feel

[oblique kettle]

I’m looking at the large short spike

[abstract comet]

crypto is coming back AND illuvium taking off on top

[ruby wing]

#💰〕token 🙂

[oblique kettle]

Even when the market dips ILV has been soaring.

[abstract comet]

yeah, it's more like 4-5x. It's a pretty big move, I'll give you that.

I guess I've been desensitized from looking at graphs of a lot of altcoins.

[polar apex]

i agree though, haven't seen anything yet. far from mooning or soaring, the awareness of the game and project is still in early stages, game isnt even released yet...

[dense relic]

I agree completely. Although, the pay to earn framework is clearly shining right now because of Axie's attention. I think though, this is literally the DAO's coin before the first project is even released. If this game is as good as I think (and as it should) be then I do believe 240$ per ILV will be more like 1k+ by next year, easily. Honestly, I wouldn't be shocked if it hits 1500$ before march of next year.

[polar apex]

it wouldn’t be too shocking yeah. i agree a lot of the upward momentum was tied to gaming sectors general performance, if ilv begins to shine on its own that’s when the real price movement will start

[hot saddle]

how do i get around this error

[mystic temple]

How do you know how much is the gas fees for redeeming rewards?

[ruby wing]

I believe you need to increase the GWEI used in your transaction

check pinned for more conversations around this

[hot saddle]

im just trying to press the sstake button and it shows that

[ruby wing]

refresh your page

what browser are u using?

[hot saddle]

brave

[ruby wing]

If you refresh and make sure you are logged into your metamask it should work.

https://discordapp.com/channels/760344898200666112/859866659011690537/867231058562777098

@hot saddle try following this thread

you may need to adjust your allow contract data settings if using a ledger

[hot saddle]

ya that was it. thank you

[bronze salmon]

Hey folks, I'm new to crypto. I'm staking in the core pools and asking me to choose rewards between ilv and silv - what's the difference? What did you guys choose?

[ruby wing]

Great!

[ruby wing]

Check pinned messages 🙂 and read #🔗〕helpful-links Medium about staking

[keen verge]

Does anyone know if the estimated APY will change? And what causes the change? Also for the ILV/ETH LP pool, APY is 300% who will give us 300% of the returns? Please guide my dumbness 😅

[potent flare]

apy changes based on the amount staked. you receive % dividents every 15 seconds~ in rewards you can claim as ILV/sILV

[ruby wing]

Check pinned conversations and read the tokenomics 🙂

!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

[potent flare]

Wade wat happen wer ATH

[ruby wing]

overall market is falling we are still slightly tied to ETH

[keen verge]

Thank you so much

[ruby wing]

np mate best of luck

[lethal kite]

Waiting for you to pick up the dip so we can achieve ATH. Haha.

[potent flare]

https://tenor.com/view/fat-nacho-cheese-dip-gif-11287361

gimme dat dip

[oblique kettle]

Are you guys staking for the full 12 months? @ruby wing

[ruby wing]

most of my stack yes

[full lagoon]

Bought another ILVs during brief dip! But had to wait for ny rewards to pile up before i add on my stake!!

[coarse acorn]

is it worth doing liquidity guys?

[spiral flame]

If you think the high APY will cover the chance of impermanent loss

[ruby wing]

check pinned

there is a calculator

this dip is great for my IL 🙂

[spiral flame]

me too. and chance to buy more ILVs. my limit buy orders are being hit.

[ruby wing]

nice

[teal prism]

!help

[ruby wing]

Please do that in one of the other spam channels like #795444126421483520 or #👑〕bot-commands

[summer belfry]

Is there any ILV on binance?

[ruby wing]

No

!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

[wanton nova]

Hey, when providing liquidity to ETH-ILV pool at sushiswap it says "by adding liquidity you'll earn 0.25% of all trades on this pair [...]. Fees are added to the pool, accrue in real time and can be claimed by withdrawing your liquidity". Does this also applies to SLP staked on the illuvium site?

[wanton nova]

Someone else unable to stake with metamask browser at the moment? I can see the Dashboard and the Reward site just fine but on the staking site I'm just getting the loading circle

[barren tusk]

No if you stake the SLP (sushi liquidity provider) token into the Illuvium pool you will not ALSO receive the 0.25%

That's the double dipping we wish we had lmao

[wanton nova]

would have been to good to be true 😄

[barren tusk]

Yes I'm actually getting a similar problem atm

Not sure what's going on, maybe alot of activity on the servers?

[wanton nova]

so wait and see?!

[barren tusk]

yeap, the gas prices aren't so friendly either

so I wouldn't mind waiting 😂

[wanton nova]

they were 5 minutes ago, 25 GWEI

[barren tusk]

Wanted them to be less lmao

[wanton nova]

could be worse

[barren tusk]

I frequently claim stake so that the compounding is earlier and faster

[wanton nova]

who doesnt. they are a pain in the ass

[barren tusk]

so gas price needs to be $5-$10 ideally

[wanton nova]

i hate it that the gas fees hit smaller investors harder

[barren tusk]

Tell me about it 😞

Whales are transacting with $89 fees per txn

[wanton nova]

yeah well if you can claim 10 ILV per day... who cares

I wish I had 10 ILV in total 😄

[barren tusk]

exactly why they can do it 😂

[barren tusk]

I'd get a job and save up lmao

It's always like the thing you see on youtube? Youtubers teaching you how to invest $1,000

Please just get a job first and save up <-- this is the truth of how to invest $1,000

[wanton nova]

I have a job.

anyway, thanks for your help 🙂 may low gas fees be with you

[barren tusk]

And you too

hmu if you have anymore Qs next time 👋

[pastel jetty]

Just making sure I understood correctly so sorry for the noob question: if I stake in the LP I get rewards that get staked in the ILV pool, right? not back at the ILV/ETH

[potent flare]

if you stake SLP, you receive ILV rewards that cost extra gas to move into vestsing (you get more ILV, but costs more to get them out)

[pastel jetty]

Thank you!

[severe hinge]

Hi, do you mean u stake for short period of time, then claim, then re-stake?

[barren tusk]

I stake long periods of time, and claim whenever the rewards are high usually 4-10 ILV

[abstract comet]

hm? Yes, you do receive the 0.25%. That's the fee for being a liquidity provider (abstractly, the entire point of providing liquidity really). The LP token staking rewards is just the cherry on top. It just so happens that for ILV-ETH specifically, the cherry is quite a bit bigger than the cake...

[barren tusk]

1. I am assuming you have staked into the SLP pool
2. Check sushi swap liquidity positions there should be none because you've already staked it into illuvium's own SLP pool

So no double dipping

[abstract comet]

Yes, all of the SLP tokens are staked in the Illuvium contract so none will show in your wallet.

But you misunderstand how LP token rewards accrue. You add a certain amount of ILV and ETH to the pool to get 1 SLP token (say). That 1 SLP token accrues more and more value over time from the 0.25% fees. So in the end when you get that 1 SLP token back, it will be worth more than when you put in. Check the sushi docs.

oh, we might be talking slightly past each other. Yes, you can't stake the SLP tokens in sushiswap's own ILV/ETH farm pool that's true. But that is not the 0.25%. All LP's without exception always receive the 0.25% fee. That's the bread and butter and is always there.

[keen verge]

Can you stake the same pool twice?

[cunning perch]

You can stake in either pool as many times as you want and it'll just compound. In terms of locking the token, it will probably differ. However, all your staked tokens will generate rewards and will be subject to receiving Revenue Distribution.

[keen verge]

Thank you, because I’m thinking of staking an amount that I will never take out for a Long time and stake the some until the game is released then I will use that amount for game play

[rustic forge]

if u dont mind me asking how much r u put in for? im thinking of putting in $200 will that be enough?

[cunning perch]

So when you stake (from what you said I assume you meant staking for 1 year) all your tokens will stay locked. To actually compound rewards, you need to claim them and they will stay locked for one year after the claiming. If you wish to use tokens in game, you will have to claim sILV (not ILV). sILV will be released immediately, but for now it has no use case and does not have any value outside the game.

[cunning perch]

Putting in $ is solely dependent on personal decisions and plans and should be done base on self's discretion.

[polar apex]

given gas fees, it is probably barely enough yeah

[keen verge]

If I claim the rewards will my coins stilled be staled?(and I will still earn reward? Or my coin is basically locked away doing nothing for the vested period)

[rustic forge]

ahh yes but is $200usd less or...?

[keen verge]

How much is the gas fee

[rustic forge]

got it thank you

[polar apex]

varies depending on ethereum network congestion

[cunning perch]

if you claim ILV, it will automatically be compounded to your original deposited stake and will therefore stay locked for one year. Claiming sILV on the other hand does NOT give you rewards, and for that reason, it is released immediately and will be ready to used in game

[keen verge]

Claiming sILV doesn’t give reward?

[cunning perch]

Nope. It is released and moved to your wallet and therefore is not staked.

[keen verge]

So if I stake 1ILV and claim it as sILV I only get 1sILV? Whilst if I claim it as ILV after let’s say 1 year I would get 2ILV? But I can only actually receive it after 1 more year

[cunning perch]

depends. rewards are generated every block and based on the APY, it varies. The concept is just like this: If you need more ILV, then you need to claim ILV as your reward which stays locked for one year after claiming. If you need to use it in game for certain stuff, then you can claim sILV and use it immediately. Be advised that sILV has no monetary value outside the game. That is why it is released immediately.

[rustic forge]

how many ILV do i need to have a good start when the game is released?

[rotund radish]

How can i buy one for $50 per coin

😩

[cunning perch]

The number of tokens are dependent on your capacity to buy and stake really. for everyone it#s a different number.

[rustic forge]

im sorry if im asking stupid questions, please bear with me

[cunning perch]

Ask whatever is on your mind and I will gladly oblige

[rustic forge]

hmmm okay thank you

[cunning perch]

$50 per coin was before July. It is more likely to raise in price then fall. NFA

[rustic forge]

can i stake without buying any ILV?just to get the sILV?

[cunning perch]

No. Staking only takes place with ILV. so you need the token to stake.

[brisk surge]

Quick question guys what are the two tokens needed for staking in the liquidity pool having trouble finding the information 😂

[rustic forge]

sorry, 2 tokens as in 2ILV which is around 500usd?

[cunning perch]

in SLP, you need ETH and ILV. they need to be exact amount in $. in the single pool, you just need ILV.

[cunning perch]

for now 2 ILV = $500

[brisk surge]

And you just have them on your MetaMask wallet right?

[rustic forge]

ahhh okay, so can i buy ILV with SLP from axie? as u can see i dont know anything

what is that abt? any links where i can read abt it

[cunning perch]

you can hold it in MM, and you can stake your tokens useing MM as well

[cunning perch]

NO. SLP = Sushi Liquidity Pool toke. Don't mistake it with AXIE SLP

[rustic forge]

ahhhh lol that makes more sense

[cunning perch]

yep 🙂 I recommend going through #🔗〕helpful-links

[oblique kettle]

Is anyone concerned about staking for the full 12 months when tokens are being released in March?

[cunning perch]

The release will be linear for 12 months (slowly). It will not be dumped. and most seed will end up being staked. Also, by then the game will have been released and the buy pressure will outweigh the sell off. So there might not even be a dip, let alone a massive dump.

[oblique kettle]

I do like steak!

[potent oasis]

anyone using trezor model T ? im trying to add liquidity but gives me some weird stuff to confirm

[cunning perch]

who doesn't lol. 😄

[cunning perch]

Do you use it with MetaMask?

[potent oasis]

yes

[brisk surge]

How do you manage to get the tokens to equal the same $ value with gas fees

[oblique kettle]

It seems everyone I’ve talked to on here is staking all of their ILV for the full 12 months lol I’m just curious if anyone is doing something differently.

[cunning perch]

Hmmm. I don't why it's giving you error really. Maybe it's a Trezor issue?

[potent oasis]

says confirm sending : 2 eth - 1 (it also said 5 and 6) to adress

i usually use the old trezor

[cunning perch]

you have 10 ILV ($2400) and you add $2400 worth of ETH and stake. ofc you need to have some more ETH on the side to pay for the gass

[potent oasis]

yeah sure, but its weird that it first said 5 , then 6, then 1

after the amount i am supposed to be sending

[oblique kettle]

So stake everything for 12 months? Is that the group consensus?

[lusty jackal]

wait so this is not allowed?

or it's possible?

[cunning perch]

most I believe are locked for 12 months will continue to do so, but you have to decide on your own and accept responsibility for it

[cunning perch]

You are trying to swap SLP with ILV?

[oblique kettle]

I don’t think that’s the SLP you’re looking for.

[lusty jackal]

yeah so i can use ILV to stake that's possible right converting SLP to ILV then use it to Stake into the pool

[cunning perch]

The SLP you are talking about is NOT the SLP used in ILV website. SLP for ILV is (Sushi Liquidity Pool Token) Do n't mistake it with any other projects called SLP

[oblique kettle]

@lusty jackal that’s Small Love Potion

Another crypto currency

Not Sushi Liquidity Pool

[lusty jackal]

but it says i can convert the Smooth love potion to ILV

[cunning perch]

but you can swap anything together if Sushi Swaps permits it. So, if you have SLP (the love potion) you can swap it with ILV and then stake that ILV in the website

[lusty jackal]

Okay Thank youu 😄

[oblique kettle]

So can we use the love potion to buy ILV?

[brisk surge]

for the sushi liquidity pool do you need to pool it on sushiswap first or just get both the same $ value tokens on MM and stake on illuvium website? sorry if it a dumb q

[cunning perch]

in the swapping section on Sushi, I believe you can swap anything with anything as long as Sushi permits it.

[oblique kettle]

So I don’t have to use ETH?

The gas prices are terribly high right now.

[lusty jackal]

What's the difference between the Core Pools and Flash Pools

[cunning perch]

You stake you ETH and ILV on sushi to get SLP (Sushi Liquidity Pool token) and then you lock that token in the ILV website. Be advised that staking SLP and claiming SLP rewards will need you to pay more gas.

[brisk surge]

ohhh i understand now thanks alot!

[cunning perch]

To stake in SLP, you need ETH and ILV. to SWAP, you can swap anything together. make sure you understand the difference with both terms

[oblique kettle]

I just mean to buy ILV

with the love potion?

[brisk surge]

Yes u can

But you need eth to pay for fees

[cunning perch]

In core pools you lock the tokens. Core pools are ILV based, Flash pools are not

[lusty jackal]

Thank you

[cunning perch]

yes u can swap anythinkg (buying ILV with any token Sushi allows)

[lusty jackal]

thanks @cunning perch for the constant asnwer for people like us

[cunning perch]

Oh don't ever mention it 🙂 Don't hesitate to ask whatever is on your mind

[potent oasis]

whats on my mind is how fucking hard we are going to make it

[cunning perch]

eeee I don't know what you mean by that haha

[brisk surge]

Pretty hard wagmi

[oblique kettle]

What currency would you recommend buying ILV with? Anything with lower gas fees?

[potent oasis]

if this is close to the hype its so mega wagmi

[brisk surge]

Eth has the lowest fees

Since if you don't use eth, it will Need to swap your token to eth then eth to ilv

Less transactions

[cunning perch]

Using anything except ETH will ask you to approve (paying extra gas). So swapping ETH with ILV makes more sense as you don't pay the extra approval gas.

[uneven garden]

One question guys, if i want to stake il v to eventually use it when the game launchs should i just go with flash pool and widthraw sILV when the time comes?

[polar apex]

no

flash pool is for other tokens, core is for ilv

[uneven garden]

Ah i see

[cunning perch]

I'll be back. taking my food 😄

[oblique kettle]

The flash pools are setup for people who don’t hold ILV but still want a part of the action.

[uneven garden]

Ah i see, so if they have slp or other tokens, got it

[polar apex]

flash pool is basically a promotional marketing tool to introduce the token to other communities

[oblique kettle]

I think there is only a few alt tokens you can stake with, but if you goto the staking page you can see all accepted alt currencies.

[polar apex]

only one at a time

[oblique kettle]

Is anyone staking flexible?

[polar apex]

and the pool only lasts two weeks each time. currently it is axs, next will be xyz

[oblique kettle]

I guess nobody is

[polar apex]

many are, according to the statistics. the most active people on here are staked 52 weeks cause they are fans of the project

double the staking rewards and future revenue distribution is attractive for long term believers

[oblique kettle]

Where can you see the stats on how many people are staking flexible vs locked and does it show how long people are staking for?

[polar apex]

i think ami posted it a while back, not sure how to get it

[oblique kettle]

@livid lark do you have the staking stats?

[uneven garden]

I would do fixed staking but ig doing a medium-long period would lock me out if i want to use them when the game comes out? Though i see there are rewards (and more for fixed stacking)

[brisk surge]

You don't use ilv in game so

[uneven garden]

Ah i thought we did, cool then, ty

[brisk surge]

You can use sILV

Which u can claim from staking and does not have a locked period

[polar apex]

to clarify, if you stake you can claim your rewards as sILV, which can be used as in game money. this is the reason to buy and stake now if you are intending on using it for the gameplay

[uneven garden]

oh yeah perfect, that's exactly what i wanted.

[polar apex]

great

[oblique kettle]

I really just want to know how long majority of fixed stakers are staking for.

i.e 70 percent at 12 months and 30 percent at 6. That would be very helpful.

[polar apex]

may i ask why it matters to you so much? if you are trying to avoid getting front-run by people dumping, you should keep it in flex. if that isnt the main concern then you should just lock to whatever duration fits your personal investment timeline

[oblique kettle]

I’m just curious how long majority of people are staking for to help me make a decision. If 80 percent is holding for 6 months I would probably follow suit. I’m asking because I’m not sure what to do.

[polar apex]

the majority are on either end of the spectrum if I recall correctly. you may start with flex if you aren't too sure, you can always restake it later (though you will eat the gas fees)

[cunning perch]

The people with a long-term vision will be here for a long time if not forever. If you are planing to trade it, you can lock short term or use Flex Pool and not lock at all, but it you plan on receiving Revenue (after the game release) and compound your staking, you can stay here longer. You have to plan what you want and what you will do when the tokens are released.

[oblique kettle]

I guess it depends on how you like your steak. 3 months = rare 6 months = medium rare 12 months = well done 🙂

@cunning perch What’s your plan? How long you holding for?

[cunning perch]

My plan? literally for as long as I get the Revenue, like forever as ILV will be used in 3-4 or even more games. But that's just my plan. you have to come up be yours and take responsibility for it.

[oblique kettle]

@cunning perch I think I’ll just borrow your plan for now 😂

[smoky canopy]

Correct me if I'm wrong... But let's say I steak ILV for 12 months....During this time I can collect sILV if I wish but the ILV collection is locked for 12 months?

[oblique kettle]

Your rewards are locked for another 12 months.

[wanton nova]

Hey, can I send SLP tokens to another wallet?

[cunning perch]

Don't follow me really. I def have different plans than many people. make sure you understand why you do what you wanna do.

[cunning perch]

By SLP you mean (Sushi Liquidity Pool)?

[wanton nova]

yes

[cunning perch]

I don't think you can as you only receive it by staking ETH/ILV using one wallet. I you want it in another wallet, they you should stake ETH/ILV directly through that wallet. That is just my opinion. I would appreciate it if someone else confirms.

[brisk surge]

I think you can send it to other wallet

It's just a token after all, not attached to your wallet

[pseudo crest]

Correct. Your initial staking ILV is locked for 12 months, but your sILV is available for in game use right away as you collect it.

[polar apex]

yes

[oblique kettle]

These videos are very helpful

[wanton nova]

that means I can withdraw my liquidity with the new wallet as well when I wish

[oblique kettle]

https://youtu.be/yVeJ1OOlA3g

[brisk surge]

Yes

But that's what I think, havent done it in eth chain

[wanton nova]

thanks. I mean as you said its not (or it should not be) tied to a wallet and therefore it should work

[brisk surge]

Yes

[real tide]

Do you guys know a tool that send you an alerte when the gas fees are lower than $X ?

[brisk surge]

I'm not aware of that but if you find pls share :')

[real tide]

No worries

[oblique kettle]

Yes please!

[real tide]

Could be an easy one to build

[vague sierra]

i would like to see that kind of app too

maybe add it to pinned messages IF there is a app/website like that ^^

[oblique kettle]

Just like Uber with surge pricing! I need to know what those gas prices are. 😂

https://www.appannie.com/en/apps/ios/app/ethereum-gas-price/

[real tide]

Nice, I found this website as well

https://ethgas.watch

(Haven’t tested it yet)

[oblique kettle]

Great, but it would be great to get notifications if possible.

[tight torrent]

!gas

[knotty river]

khaldrog

:fuelpump: Current gas prices

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

29 Gwei

Average :person_walking: | **3 minutes**

34 Gwei

Fast :zap: | **15 seconds**

36 Gwei

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

[pale viper]

did anyone lock sushi lp for 52 weeks?

[spiral flame]

yes

[wanton nova]

The sushiswap support just confirmed to me that you can send SLP from one wallet to another and do with it whatever you want. @cunning perch FYI

[pale viper]

okay here goes nothing then

[nocturne imp]

so if i stake my ILV and lock it for 52weeks.. what are the cons ? aside from not being able to cash it out? i have no plans to cashout though.

will i miss out somehing ingame wise?

like i need to spend ILV for something ingame using ilv?

[thin patrol]

Then there will be no cons except you would not be able to take them out if ILV lose value - you wont miss out on ingame items because in game is only ETH and sILV

[cunning perch]

Hey. you don't need ILV in game. you can choose to receive sILV as your rewards while locking your ILV. sILV can be used in-game for certain stuff, but ETH is the main currency and will be the ONLY currency in the MARKET PLACE If you choose your rewards in ILV, your ILV reward will be locked for one year.

[nocturne imp]

ohhh noice.. 52weeks. here i come. in ILV i trust. this is money im willing to lose. so ill probably be fine.

[cunning perch]

Good luck and welcome aboard. 🙂

[pale viper]

i'll probably just do sushilp for 52 weeks then claim in sILV after

that's fine right?

[cunning perch]

Everyone has a plan and needs to stake with it. different for everyone.

[brisk surge]

Yes

[tight torrent]

How much gas fees are needed per transaction?

[manic spindle]

This depends heavily on the GWEI cost at the time of the transaction. Always changing

[cunning perch]

gas varies a lot. no certain amount is fixed

[thin patrol]

I just have to warn you about SLP double fees and impairment loss - To make sure you are comfortable with that

[tight torrent]

So as per ‘!gas’ its 34 gwei. Is that all needed every time there are transaction or movement?

[cunning perch]

rn yes, next time, no one knows

[pale viper]

52weeks apy should be able to cover the losses right? with eth 2.0 coming out i don't think it'll drop too low

[cunning perch]

this is speculation. Higher APY is supposed to compensate for IL, but that's the risk people take and anything can happen. ETH 2.0 is still far away