🥩〕staking

[thin patrol]

We have no way to know if APY will cover Impermanent loss - And you have to remember the transaction fees are 2x compared to the normal LV pool

[nocturne imp]

btw, i know this is still far.. but when 52weeks is done. do i unstake? and restake if i still want to continue

[thin patrol]

If you want to restake (it's a option) you can yeah :)

[cunning perch]

No you don't need to unstake. It will be unlocked and you can either withdraw or let it be there. you will keep your #X weight

[pale viper]

now i'm just staring at my sushi lp

[tight torrent]

So if you decide to stake now

Buy eth
Eth to ilv - pay 34 gwei
Ilv to staking pol - pay another 34 gwei

So 68 gwei is all the cost now to stake? with the current gas fee price

[cunning perch]

make sure you leave time to stare at the Revenue you receive lol

[pale viper]

the gas is so high i cried

[cunning perch]

yeah. you'll have to pay 2 gas fees. as long as the gas price is here, you'll pay it. it might spike for your next transaction or even drop. no one knows. But if you are staking and/or buying a good amount, I won't matter in the long run as the rewards and Rev you receive will compensate all

[tight torrent]

How much?

[pale viper]

paid 37usd

[cunning perch]

by clicking on swap/stake, before confirming, you can see the $ value of gas

[uneven garden]

its 42$ rn

[thin patrol]

oh thats steep

[uneven garden]

[normal blaze]

Link for staking?

!stake

[manic spindle]

https://staking.illuvium.io/ 🙂

[lost dove]

Am I understanding correctly that ILV rewards are earning interest as well while they are vesting?

[manic spindle]

Claimed ILV from staking are automatically staked in the ILV pool with a weight of 2.0 when being locked for 12 months, yes.

[random sequoia]

Can you claim your ILV without vesting/locking it?

[lost dove]

is that factored into the APY already?

[lost dove]

No, but you could claim your SILV

[manic spindle]

No, because no one knows when and how much you claim or what the APY in general would be at that time.

[lost dove]

So, it stands to reason your actual apy could be much higher than the apy on the farm. That is a nice added bonus

[thin patrol]

Yeah compound APY - is nice

[manic spindle]

APY is fluctuating all the time and don't forget that all the claimed ILV from others also end up in the single ILV pool. But yes, there is in general a compounding effect.

[lost dove]

ok

[wanton nova]

I have a follow up question regarding the compounding

[vague thistle]

Why is there a staking pool in the first place? What does it do for the team/game? Is that liquidity being deployed now?

[wanton nova]

Say I stake in the Eth/ILV pool, I let the rewards accumulate and claim then when it makes sense gas-wise. The claimed ILV are locked for 1 year and gain rewards themselves. Do these rewards have to be claimed seperately or do they add up to the Eth/ILV rewards?

[manic spindle]

In order to reward people supporting the project by holding the token and to distribute the token in a way that benefits multiple people so that the overall DAO grows stronger.

[manic spindle]

Regardless of how many manual deposits or claimed reward batches you have, your rewards pile up in one batch and can then be claimed

[wanton nova]

Great, thanks

[frosty totem]

I haven't done any LP before. The impermenant loss part is a little confusing.

If ILV/ETH diverge too far that means a greater chance of impermenant loss?

How do I keep track of this? Isn't this what the AMM does?

[cunning perch]

I suggest reading the article. Also in short it means like this: If ILV pumps and outperforms ETH, the pool will sell your ILV and buys more ETH to keep the balance. So ILV pumps, you lose it (in percentage) and will end up with more ETH or vice versa. Read this for further info: https://academy.binance.com/en/articles/impermanent-loss-explained

[frosty totem]

I will read it thanks.

[coral jackal]

So someone kindly ask Axie to chill for a day or two. They are really hurting gas prices and my desire to claim rewards.

[thin patrol]

Yeah let me just tell the owner of axie to lock the server for a while 😉

[coral jackal]

That'll work. Or if their sidechain was better. That could work as well. Either way.

[frosty totem]

Is there a case I can read about with huge impermenant losses happening to a LP? Like a famous one maybe

[zealous bear]

SAND staking took a huge IL. SAND went up 5x while ETH went down 35%

[brisk surge]

IL danger danger

Hope everyone knows the risks

Can be really profitable tho

[silent spire]

ILV/ETH is high risk due to impermanent loss. But, hypothetically lets say the price difference holds for about 2 months with low impermanent loss. Then, I will be basically doubling my investment in rewards as ILV with +600% APY, in that 2 months. The reward ILV, I can re-stake on ILV or ILV/ETH pool.

I can keep repeating this process, so my initial ILV/ETH pool doesn't matter anymore even if there is huge impermanent loss. So far better than ILV pool staking. Am i missing something here?

[zealous bear]

I think that's the general consensus for the ILV/ETH pool. However, there are a few things to weigh that decision against (NFA):
1.) The 600% APY is not guaranteed and will change over time.
2.) Since we are dealing with a DAO, it's completely unknown where it will be in 12 months time.
3.) You can hold 2x as much ILV in the standard pool since you don't have to pair with ETH.

[silent spire]

Thank you. 🙂

Since, the rewards can only be taken out after 1 year. Is it a no brainer to re-stake it in fixed pool for 1 year?

[zealous bear]

it all depends on what you want out of your ILV investment. Are you looking for potential long term gains over 1-3 years or are you looking to take profit on a big ILV price spike? The answer to that question should guide you on which pool to pick.

[manic spindle]

Not necessarily. While rewards are locked for year when claimed, if your strategy would involve betting on a huge price spike before new tokens unlock to sell all/some of your unlocked ILV, then locking for a year would be a bad idea. Now if you want to HODL anyway for a long time and thus are more about optimizing your gains, then locking a year for 2.0 token weight could be considered a good idea again 🙂

[silent spire]

Thanks guys, I am getting more clearer picture now. Need to read more.

[naive cloud]

Are rewards dynamically affected by IL? Like, if I start with 3 ILV in the ILV/ETH pool and ILV jumps dramatically, will I still be earning the rewards off the initial 3 ILV that were included in my SLP from the beginning, or will it be less?

[manic spindle]

You earn staking rewards based upon the SLP tokens you staked, so IL should not have a influence on that to my knowledge.

[naive cloud]

so if my initial stake gets liquidated due to IL (highly unlikely, I know) then the rewards that I get off the 600% APY (assuming it stays this high for around 3 months) should make up and more for that liquidation?

[manic spindle]

That is an assumption many have made, yes. I cannot guarantee you this would happen though. That's a gamble you'll have to decide on for yourself, which is exactly why providing Liqudity comes with more risk for possibly more rewards 🙂

[naive cloud]

but the only way we can think of this not happening is if the APY dropped drastically upon staking?

[manic spindle]

That would be my personal assumption, yes. NFA 🙂

[abstract comet]

I have a question about the google doc claiming calculator (excel spread sheet): why does column A keep multiplying by 1.05? I'm not sure where that 5% compounding is coming from. Thanks!

[smoky canopy]

Anyone else feel like they attending a lecture here, with some of the best professors answering our questions 🔥 I knew nothing a week ago and the amount of knowledge we're gaining here is golden 🙏

[ruby wing]

https://tenor.com/view/the-office-bow-michael-scott-steve-carell-office-gif-12985913

[elfin quiver]

it absolutely amazes me going from being divested from crypto then moving back into full on NFT gaming and staking...the groundswell is wild. Having great information sharers is super helpful

[unique grail]

Hi, just a quick question about something i lately noticed. If i'm already staking in a locked period of 22 weeks that i set a week ago, then what does this picture means?

[zealous bear]

Those are your staking rewards. you can claim them in ILV or sILV at anytime. Claimed ILV will be locked for 12 months. Claimed sILV is ready to use right away.

[unique grail]

Ohhh i thought i can only claim it after the set locked period ended.

[zealous bear]

Just make sure you factor in the gas fees when claiming the rewards.

[unique grail]

I see, but will there be any problem if i don't claim either iLV or $iLV cause i lately noticed it and it jas been a week.

[manic spindle]

No, you claim manually when enough rewards have piled up to justify gas fees 🙂

[unique grail]

Hey there, i was a bit confused. So those that i didnt claim either iLV or $iLV will just piled up?

[manic spindle]

You only claim the full batch as either ILV or sILV but yes, they will keep piling up (as long as you have something staked) until you claim them

[unique grail]

ahhhhh now i understand, so no problem if i just let it there then claim either iLV or $iLV after the set locked period ended and thus a much better option? Cause i was used to the gains in cryptomining, just let it there and Hold.

[zealous bear]

you also need to consider that you get 2x stake weight on the claimed rewards

[manic spindle]

Your amount is very small right now anyway and probably would not be worth the gas fees but yes, you can always wait until the locking period ends to claim your rewards. Just be aware that claimed ILV will be locked itself for 12 months at the time of claiming (while compounding at 2.0 weight). sILV are immediately unlocked and ready for ingame use though when claimed.

[unique grail]

And that is after the locked period that i set ended?

[zealous bear]

it has nothing to do with the lock period you set. when ILV rewards are claimed the 12mo clock starts ticking down on those claimed rewards.

[unique grail]

I will take note of this, in case i forgot something or if a friend of mine gets interested in illuvium so i can explain them as well. So basically if I claim iLV after locked period it will automatically locked itself for 12mos. ANd not into as a Balance? I now fully understood the part of $iLV.

[zealous bear]

when you claim the reward as ILV it automatically goes into the Core ILV pool for 12months at 2.0 weight.

[manic spindle]

What nodebased said, yes. Also, the 12 months lock and auto-stake happens regardless of when you claim ILV as rewards. It always is that way.

[unique grail]

that is interesting and definitely new to me. I guess for the small amount that o stake i'll just use it in-game as $iLV?

[unique grail]

Noted with highlights. Meaning this will be automatic and i don't have to do anything except consider the gass fee?

[pliant pulsar]

how do i stake my token and why is this good/will make me money?? im a noob, sorry for dumb questions

[zealous bear]

correct. just hit the claim button and pay the gas fee

[unique grail]

And this also happens if one have batches or multiple stakes on their account?

[unique grail]

Great, i remember i still have a few ETH on my metamask. But i guess the best option was to claim it after the locked period in that way i can fully claim it December of 2022. Cause i set mine for 22 weeks only which will end somewhere in December 2021. 😂

[zealous bear]

If you have multiple staked batches, the rewards will be claimed for all ILV that you have staked.

[manic spindle]

If you claim ILV rewards multiple times, you will have multiple batches with their own unlock times, yes.

[unique grail]

WOw, and this goes regardless if you have smaller staked amounts on those multiple batches?

[manic spindle]

You always only have one pile of rewards adding up, regardless of how many pools you are in or how many individual batches you have staked.

[unique grail]

amazing i never knew this will be more interesting not only on the side of income but also from learning something new.

[unique grail]

Great, i love that kind of system. I remember my friend told me that he is better of staking some of his extra savings rather than taking it to the bank.

Stormi and Nodebased thank you so much for these clarifications I really really appreciate it guys 💖👌

[abstract comet]

If you claim once per week (say), you'll have around 50 batches unlocked after 2 years...do you think there will be a way to withdraw all of them at once instead of one at a time? That would both save massively on fees (hopefully?) as well as be much less tedious

[manic spindle]

It has been brought up multiple times and I know this is something probably everyone would like to see, yes. It cannot be guaranteed at this point in time though, at least not to my knowledge. So keep hoping but don't expect it is all I can say for now.

[zealous bear]

I sure hope Ether gas fees are sorted in 2 years time.. 😩

[abstract comet]

cool, thanks!

[real tide]

Gas fees are ridiculous

[brisk surge]

Welcome to eth :'(

[pliant pulsar]

whats better if im brand new to staking token? flexible or locked?

[thin patrol]

I would say locked is better - I wish i did that from the start

[pliant pulsar]

ok how long should i lock for?

im thinking 2 weeks or more?

[thin patrol]

Thats up to you - do you need the money ready for something?

[pliant pulsar]

nah i believe in this project long term

[thin patrol]

Then i would stake for a year for highest APY - and revdis

[abstract comet]

I don't think anyone can answer that for you. I think the risk/reward proposition is pretty straight forward. Lock up your money (thereby losing flexibility) for longer and earn more.

[drowsy wigeon]

52 weeks all in lets goooo (NFA)

[pliant pulsar]

lol

[unique grail]

As a trial i did a small amount locked for 22 weeks only

[pliant pulsar]

game comes out end of year correct?

[thin patrol]

Yeah ILV token will not be used for in-game stuff

[sonic valve]

after staking is done, do you get a choice of leaving it to stake at the same rate or do you have to restake at that time?

[abstract comet]

you can leave it at the same rate

[unique grail]

Yep, and i'll claim mine and do another staking.

[sonic valve]

so it becomes flexible after finishing the stake?

[pliant pulsar]

if u lock for 22 weeks for example.. u cannot unlock your stake before that correct?

[thin patrol]

Correct

[unique grail]

yes but they say you can claim rewards anytime. But i choose to let it be and let the reward pile up 😂

[pliant pulsar]

ok think i may do 12 weeks or 16 weeks

can u claim reward and restake that?

[unique grail]

According to them if you claim iLV they will automatically goes to 12mos. Locked period

[cunning perch]

Rewards (after claiming) will be locked for a year No matter how long u lock your ILVs for.

[pliant pulsar]

the reward is what token?

[unique grail]

What i will do after my 22weeks locked period is claim $iLV to be used in game and since i'm a miner i will stake another batch.

[pliant pulsar]

different than illivium token?

[cunning perch]

ILV and/or sILV. sILV is released immediately to be used in game and has no monetary value outside it.

[pliant pulsar]

ok cool

[pliant pulsar]

how do i get the token that says 628% apy

[tacit mesa]

you have to provide liquidity in sushi swap..

please see thr 📌 pinned posts here..

ETH > ILV. then ETH + ILV (same fiat value) = SLP token (sushi liquidity pool

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

[ruby wing]

Great explanation thanks

[tacit mesa]

just like how you helped us here before.. just giving back somehow.. 😉

[ruby wing]

Best way for the community to work 🙂

[bold bough]

i have a question. can i stake after the game is released ?

[manic spindle]

Yes, but rewards paid out are reduced every 2 weeks by 3%. But Yield Farming via staking will run for three years.

A total of 3m ILV is paid out as YF rewards for staking in a period of 3 years where 1.8m (if I remember correctly from the top of my head) is paid out within the first 12 months.

You can join the staking process at any time in those three years, but at what APY no one can foresee of course 🙂

[bold bough]

so until march 2022, reward is not gonna be reduced, right?

[manic spindle]

Until March 2022 no new tokens are unlocked but staking rewards are reduced by 3% every two weeks.

You might wanna check:

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

[bold bough]

thank you stormi, i may need to drill into those doc, there are a lot of thing bugging me

[brisk surge]

8m tokens, if the revenue is $8m a day, that’s $1 per token for revenue distributions, is it that simple or am I missing something

That’s if all 8m tokens are staked

[manic spindle]

If 8m ILV would be staked with the exact same token weight and the project as a whole would make $8m in daily revenue then yes, every single staked ILV would receive $1 revenue per day.

100% of this DAO's revenue from every sale and every game developed is shared with staked ILV holders.

[zealous bear]

Is it a bit presumptuous to assume 100% of Revenue will go to ILV holders? ILV is a DAO and revenues will be needed for things like artists, coders, marketing, heat/hotwater, etc. Whatever the governing council decides. If 100% of the revenue goes to the ILV holders how can the game grow once released and DAO is deployed?

[brisk surge]

The team holds tokens

I'd say it's from there

Or the treasury idk

[zealous bear]

i understand that. but once the DAO is deployed, and they need to hire some new coders (for example), the DAO has to fund that somehow.

[manic spindle]

Please understand the tokenomics before throwing around words like "presumptuous" against something that is factually correct, thank you 🙂 If you check here, you can see that the treasury holds 1.5M ILV and since the treasury is fully revenue eligable, the DAO will most likely never run into any issues with funding: https://medium.com/illuvium/9-tokenomics-launchpad-and-reward-details-5894c3b356be

[mint cave]

there is also a significant amount of cash on hand from the initial fundraising

[zealous bear]

do we know how much cash? Is that cash included in the ILV DAO or is that funding used to only pay for the initial development?

[zealous bear]

I fully understand the tokenomics. What I'm trying to better understand is the financial position of the ILV DAO.

[manic spindle]

Revenue Distribution, Treasury, Staking, DAO funding...all these things are part of the tokenomics 🙂

[zealous bear]

I get that, but no company can survive forever on their initial funding rounds. So if the Treasury holds 1.5m ILV, is that all the ILV they have to work with to progress the game over time? Unless the council decides to flow some revenues back into the Treasury?

[eager rover]

Presale/Seed/Rounds - 5mil. Balancer pool was 40-45m ? I think

Can't find the amount of ETH the DAO received from balancer pool

50m is plenty until revdis kicks in.

[zealous bear]

Yes, that's what I'm getting at...Are Presale/Seed/Rounds part of the DAO or not? I assume the original team took some form of currency from VCs and gave them ILV in return. That currency is used to fund the initial game dev. But is that part of the DAO since technically its being spent before the DAO is deployed?

[prisma juniper]

I heard Kieran mention in an interview how they have enough resources to fund a 2nd game or something to that effect, can't remember the exact wording or what Youtube video that was

[manic spindle]

I don't think you understood the tokenomics and the part of revenue share yet. Maybe this can help:

• 100% of revenue all games make is paid back to the token holders.
• The treasury holds 1.5M of them.
• Out of the remaining 8.5M we would probably never see more than ~6M staked (which is high already). This puts staked tokens at 7.5M
• For easy calculation we assume for a second that all tokens have the same weight
• If you now take Axie Infinity recent 30d revenue which is ~$215m as a real life example which we obviously plan to surpass at a point not years in the distance then this means that $215m is shared with 7.5M ILV = $29 per ILV per month. Now multiply this by the treasuries 1.5M and you have $43m per month funneled into the DAO.

Also, the DAO is already active. Council is elected. Proposals are made and approved.

[eager rover]

All of it is is given to the DAO. I think you're now asking how much of a DAO is it.

[zealous bear]

Ok. So the DAO Treasury holds the 1.5m ILV and that 1.5m ILV receives RevDis which should be substantial. The assumption is that the RevDis on that 1.5m should provide plenty of working capital without the need for the Treasury to sell any of the original 1.5m. Is that correct line of thinking?

[manic spindle]

Yes 🙂

[zealous bear]

Can it also be assumed that none of the initial VC funding is included in the DAO?

[vague thistle]

For the 150M or so staked in the pools, who is doing what with that money?

[zealous bear]

I was hoping to get some clarity on this and the total amounts received from VCs. It really helps to understand how the DAO and team are funded up to this point and into the future. If the team received $50m from VC's in the seed rounds in exchange for 2mil ILV plus 1.5m ILV as stated in the tokenomics that comes to roughly $400mil at today's prices that is not included in the DAO

[eager rover]

Assume 5m + 40-45m was raised to the DAO

Not sure how you’re making a distinction to money being raised not going to the DAO

[zealous bear]

Its very easy. If I go out and create a DAO, and give VCs 2mil of my DAO tokens in return for $50mil. Is that $50mil part of my DAO or not?

[magic laurel]

what is the shortest amount you can lock your funds for? I dont think i want to be waiting a year

[zealous bear]

I could say that it is and I go and spend it on paying a team to develop my DAO. I could also go and exclude it from the DAO

[eager rover]

You can choose to keep your tokens unlocked to pull out anytime

[magic laurel]

ah that makes sense then thanks

[magic laurel]

also doesnt the rewards you get become vested for 1 year? Or am I misunderstanding

[eager rover]

You have to more clear cause I’m getting confused. Or maybe you want an explanation on how is the team spending the money they received?

[eager rover]

Yea rewards are vested for 1 year from the day you claimed them

[magic laurel]

that makes sense, idk if i want to keep them in there for so long tho

hmm

also if it is going to be vested for a year anyway isnt it a good idea to just lock your funds in for a year too

[zealous bear]

Simple due diligence trying to get a clear picture of the ILV DAO financials.

[magic laurel]

so it ends up coming out all at the same time

[merry ridge]

@manic spindle This could help them understand "how does their team get paid" Check timestamp 42:41 https://www.youtube.com/watch?v=mnAfmDrjCBY

[magic laurel]

I think il stake for 1 week at first then withdraw and stake for a longer period of time

[eager rover]

the rewards are automatically put into the ILV pool as staked

[thin patrol]

if you are locking your stake you can't do 1 week its one month

[magic laurel]

am i looking at the wrong thing?

[thin patrol]

nope i forgot the slider is weeks - but we all talk in month when we talk about staking

[eager rover]

the flexible tab is unlocked

[brisk surge]

If you plan on locking for a longer period than a week why are you locking for an initial week?

[thin patrol]

And if you are locking with a small amount the fees can end up biting you

[magic laurel]

ah makes sense

oh well a year it is then! thanks guys 🙂

[thin patrol]

np :)

[magic laurel]

what would be the cheapest way to swap to ILV in order to stake it?

[abstract comet]

1inch

[twilit sky]

noob question

sushi have limit orders?

[unborn ibex]

how much minimum amount can be staked?

[ruby wing]

no minimum, just about how much gas you can tolerate relative to your bag

for example we reccomend staking minimum of 10 ILV in the sushi pool because gas is more costly

but for the single asset pool you can have a lower amount

[ruby wing]

not 100% sure, one of the other more seasoned people would know better than me. (I think it does but not sure which pools this is relevant to: https://sushichef.medium.com/sushiswap-limit-order-c7b9e92e862e) - check out 1inch as well.

[unborn ibex]

Thanks!

[ruby wing]

np welcome aboard

lmk if u have any questions

[obsidian remnant]

why 10 specifically , I don't quite follow . Is it because you make multiple transactions that will cost alot?

[ruby wing]

Yes, its not 10 specifically

more in terms of USD value relative to tx fees, just what I think is most efficient

[obsidian remnant]

just more of optimizing your return relative to tx

[ruby wing]

like if ILV goes to 2000, you could easily only need to stake one haha

[obsidian remnant]

lol

it may get there , I've been waiting for a slight correction . I've got burned in other projects before so now I usally wait but the fomo kicked in today and I had to buy one ILV token for my sanity

[ruby wing]

haha best of luck mate, welcome aboard. Glad to have another Raptors fan 😉

[abstract comet]

don't think it's available on ethereum yet. Try 1inch

[trail hornet]

Heads up that staking doesn’t work with crypto.com wallet. The most you can do is approve the wallet and that’s it

Has anyone been able to successfully stake with cdc wallet?

[ruby wing]

Metamask + Ledger is reccomended

I know some people have used CB wallet

not sure about others

try searching conversations in the discord to see

[trail hornet]

Ah yea doesn’t look too good. Shame I spent gas transferring ILV and eth over to that wallet. I’ve seen a bunch of people saying mobile meta mask is buggy

[elfin wren]

I used to use CB wallet and it was a pain every time so I switched to just MetaMask wallet and it’s been a lot smoother

[trail hornet]

You like meta mask mobile?

[valid kite]

Trust wallet is also good

[elfin wren]

Yea I like it a lot more than CB wallet honestly

[ember basalt]

is there bonus right now when claiming staking rewards?

for some reason I got sILV in my dashboard when I'm pretty sure I've been claiming ILV only

[ruby wing]

You might have gotten some sILV dust when claiming both pools

[ember basalt]

really? I've never had it before

[ruby wing]

this can happen if your gas fee is different for claiming the LP and single asset pool

make sure it is the same

[ember basalt]

ah gotcha

that might've been the case since I wanted to cancel the transaction due to high gas fees, i played around with the gas and it might've resulted in different gas fees for both of them. but it's all good, sILV is useful too

[ruby wing]

yup

[ember basalt]

thanks!

[twilit sky]

ty

[full sedge]

Hey guys

In regards to claiming rewards, Is there like an ideal number of ILV to have when claiming? and let’s just say we aren’t accounting for gas fees fluctuating

And say, ILV stay stable at $250

[abstract comet]

are you staking ILV or ILV/ETH?

[full sedge]

Hi Mia, I’m staking ILV/ETH only

[magic laurel]

You can stake eth?

[full sedge]

Sushi LP is ILV/ETH 50/50, to provide liquidity to the pool

Wooo, I just leveled up 😆

[spiral flame]

I usually claim not lower than 3 ILVs, ONLY when gas is less than 20 gwei

[vague thistle]

How much USD is 20gwei?

!gas

[knotty river]

decrypted

:fuelpump: Current gas prices

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

25 Gwei

Average :person_walking: | **3 minutes**

31 Gwei

Fast :zap: | **15 seconds**

35 Gwei

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

[polar apex]

yes, usually don't claim until 3-5 ILV

[full sedge]

Okay 3ILV is your min, what’s your Max?

[polar apex]

there is no max, you can let it roll as long as you'd like

[spiral flame]

which is not a good idea because of the staking apy

[full sedge]

I mean like, your max, so they don’t sit there not compounding

3-5 ILV nice

[polar apex]

well, it's a subjective calculation. basically you want the compounding interest (expected withdrawal date 12 months from now) to be worth more than 2x gas

so i guess it changes depending on what you think the ILV token will be worth in Aug 2022

[full sedge]

Let’s just say I’ll think it’ll be worth $250 12 months time

[polar apex]

hmm actually i think it's a little more complicated than i thought. it would only be the compounded interest on the extra days you gained from claiming early.

[vague thistle]

How much is 20gwei in USD?

[polar apex]

the breakeven point might actually be lower, but i think there's too many variables in place to easily calculate. the lazy man's answer is rather than theorycrafting too much it's best just to wait for low gas on weekends, and claim when you have a decent sized reward pool available.

[mint cave]

20 gwei is about...$0.00005

[vague thistle]

Then why does it cost like $35 to stake ILV?

[mint cave]

because you multiply it by the gas the transaction costs

every transaction costs a different amount, relative to how "costly" it is to compute on the network

[vague thistle]

.00005×250<35 tho

[mint cave]

that's why sending ETH from wallet to wallet is the cheapest transaction you can do

[polar apex]

i believe it is because it's not the dollar amount that matters, but the complexity of the transaction

[full sedge]

Yeah, I thoughts someone may have done the calculations, but there are a few variables I guess

[mint cave]

so when you set your GWEI, you are saying i will pay this much per unit, basically

then it is multiplied by the gas LIMIT

[full sedge]

Your 3-5 ILV claim whilst gas is low sounds good, I’ll probs stick to that. Thanks

[mint cave]

that gives you your total transaction cost

note that gas limits should always be higher than the estimated cost of the transaction, to avoid out of gas errors

[vague thistle]

I staked 1 ILV just because fomo, but now I have major fomo and want to stake more. Fuck the gas tho

[foggy pine]

Hi all, I’m new to the community, if I have $ilv and want to stake it, where do I go to do that?

[polar apex]

https://staking.illuvium.io/staking/core

[mint cave]

we will be posting a community-made tutorial very soon to help explain a lot of this process

[polar apex]

might be helpful to have a staking FAQ too

[mint cave]

that is part of it as well 🙂

[polar apex]

cool, sounds good

i was thinking of writing a few lines for it as well if I had time later, but good that you guys are working on something more polished

[abstract comet]

yeah, as has been said, the stake claiming strategy is a bit complicated. Claiming every $1000 worth of ILV is a good rule of thumb, but how much you have staked also matters.

I could be wrong, but I think if you have less staked, then you want to claim less than $1000. If you have a lot staked, you want to wait and claim when it's over $1000. It's a bit confusing because if you're a small staker, you'll be claiming smaller amounts than the big staker, but more slowly. Hope that makes sense.

So very roughly, someone with $1000 staked in SLP might claim $500 every 30 days, $10,000 staked in SLP might claim $1000 every 5 days, $100,000 staked in SLP might claim $5000 every 2 days. (I didn't actually do any calculations to get those numbers, but back of the envelope probably in the right ball park).

[wintry yew]

So is it better to stake in SLP or the core pool of ILV, in your opinion at least

[abstract comet]

The main factors are how much you're going to stake and what do you think is going to happen to the ILV token price. Claiming rewards is twice as expensive in the SLP pool. ILV only staking gives you pure exposure to ILV mooning. The SLP has a higher APY to compensate for providing liquidity and having less exposure to ILV price movement.

[half idol]

I think if you have More staked, you want to claim More often

Like, the only reason to not be claiming all the Time are gas fees, so if you ilv staked Is higher, the less you care about gas

[vague thistle]

Why claim at all?

[half idol]

Because when you claim, the amount claimed gets added to your pool (right?), And in that way you would be staking that also

And you Will eventually want to receive your rewards. Remember they Will be delivered one year after claiming

[swift fog]

Also because the 12 month period for the reward starts as the claiming happens to the reward. So people pace the amount of gas it costs in stages. (I think)

[glass carbon]

wait what? you need to claim to actually be able to access the tokens otherwise they remain illiquid. they also need to vest for 12 months so you can only sell after that

[gloomy gazelle]

I think the transactions are actually more than 2x as much. The SLP claim has a significantly higher limit than the ILV only claim.

[teal dock]

is there a more in depth tutorial on how to stake? from buying the token to staking it?

[ruby wing]

There will be one soon

for now read Medium 28

#🔗〕helpful-links

and search through the channel lots of convos have been had

🙂

[slender ocean]

ok heres a question... lets say illuvium sales is at where axie sales is right now when revdis kicks in... how much percentage yield (APY) will revdis be at that point?

[ruby wing]

No clue as of now, super speculative as well. I think some community members have done some projections if u check pinned.

[oblique kettle]

There are some really good ILV staking tutorials on YouTube. Just search “Staking ILV”

[stuck rune]

So this prob meant by gas wise, it will be worth to claim every $1000 of ilv?

[gloomy gazelle]

At the current APY I would think so.

[pliant pulsar]

https://app.sushi.com/add/ETH/0x767FE9EDC9E0dF98E07454847909b5E959D7ca0E ok im on this part.. do i just need to divide my ilv holding in two.. then insert that number in bottom input ilv? then click approve ilv?

[gloomy gazelle]

oh thats becasue I'm helping in general

[gloomy gazelle]

ok lets move here...

[pliant pulsar]

lol hey man really appreciate the help

[gloomy gazelle]

!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

[gloomy gazelle]

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

• You stake a certain amount of ILV and decide to lock it or not (if locked, you get more rewards but cannot withdraw until the lock is over)
• Rewards start piling up for you
• You claim those rewards whenever you want to because there is enough to justify gas fees
• If you claim sILV you have it unlocked right away
• If you claim ILV then that batch of ILV gets locked for 12 months and automatically staked in the ILV pool with a weight of 2.0
• New rewards start piling up....and so on

So theres a ton of info right there.

[pliant pulsar]

if i claim sILV can i restake that?

[gloomy gazelle]

no

but it goes straight to your wallet

so you can use it in game right away

[pliant pulsar]

and sILV is in game token

[gloomy gazelle]

no 12 month delay

it is

[pliant pulsar]

man this project is really a long term investment

which i like

[gloomy gazelle]

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

[dense relic]

okay now I'm here. How much ILV do I put in again? lol

[gloomy gazelle]

yeah so when you claim the rewards they are put in the ILV only pool locked for 12 months... so they are earning you more ILV while you wait

[pliant pulsar]

man i have so much to learn

[gloomy gazelle]

current apy is 600% divide that by 364 and you get how much you earn each day

how long will it take to get enough ILV for it to be worth claiming?

[dense relic]

that's like 1.6% 😦 Shit I need like 100 ILV

[gloomy gazelle]

basically if your newly claimed ILV can earn enough to cover your next gas fee before you claim then you are good

[gloomy gazelle]

that is probably about right to get 1 a day

[dense relic]

That's how I did the math yeah, Sadly...I don't have 30k to toss in. Rip

[gloomy gazelle]

yeah even if you don't claim early and claim later you still get gains you just aren't actively compounding as often

which is fine becuase to compound you need to pay the transaction fee which is not often very cheap right now

[pliant pulsar]

ok so if i add my ilv token to sushi liquidity pool paired with eth how long should i lock for if im a newb and just learning?

[gloomy gazelle]

as long as you think you can

the longer you lock in staking the higher your APY

only the full 12 month lockup gives you the top APY... the one shown on the site

[pliant pulsar]

does this increase my chance of impermanent loss

[gloomy gazelle]

i guess so yeah

[full sedge]

Is there a certain time of day when gas fees are low?

[gloomy gazelle]

but if you can earn the amount of your initial ILV tokens in 12 months then you could be out earning 100% IL which is impossible

[pliant pulsar]

right now.. middle of the night us

[full sedge]

Where you guys located?

[gloomy gazelle]

you can't lose more tokens to IL than what you put in

USA

[pliant pulsar]

but i could lose my eth if i add liquid to sushi?

[gloomy gazelle]

only if eth out performs ILV

so when one pumps you get less of that one and more of the other

[prisma juniper]

Guys I have a small amount staked in both pools. If let's say I want to stake a few resources in both pools again at the same time that would total to 4 transaction fees right? 2 for the staking and 2 to claim the rewards that you have to claim in order to stake

[gloomy gazelle]

https://analytics.sushi.com/pairs/0x6a091a3406E0073C3CD6340122143009aDac0EDa This is a good place to see how its going

[gloomy gazelle]

I'm afraid that is correct. I'd lean towards choosing one pool to add to each time you get more on the market.

but my bags are small enough that transactions are killers

[oblique kettle]

These damn gas fees!

[prisma juniper]

I see. My thought process here is I have a small amount staked in the ILV/ETH pool. If I'm gonna get screwed by gas fees I figured I should at least increase my stake there so the rewards can help cover the fees

[full sedge]

In my opinion I don’t consider impermanent loss to be a big deal, compared to how much APY you are gaining

[prisma juniper]

Since I can't escape it anyways since I'm locked for 1yr

[gloomy gazelle]

https://tenor.com/view/that-this-gif-22288923

[full sedge]

Average gas fees now are 24, that’s normal

The IL is only lost on your initial investment

[dense relic]

The ETH/ILV pool, it's better than the pure ILV pool because of the way rewards are distributed correct?

[pliant pulsar]

ok so after add liquidity on sushi i will be able to stake sushi lp on illivium?

[oblique kettle]

The only risk is if the token goes to the moon in less than 12 months and you want to sell… you can’t.

[gloomy gazelle]

4 ilv are given to the SLP pool for every 1 ilv given as reward to the ILV only pool

[prisma juniper]

I have a little ILV that I'll be able to unlock in Feb. I'll probably sell it to cover ROI and then I'm happy

[dense relic]

why would you sell...if it goes to the moon? You'd just be getting more in rewards because this isn't a pump and dump, no way.

[gloomy gazelle]

That is part of why the APY is so much higher

[full sedge]

Yeah but if the token goes to the moon and you sell, you wouldn’t really care about the Impermanent loss that you’ll lose

[dense relic]

regardless of the IL, you're still stuck for a year. You can't sell them, I guess you can sell rewards? but I'm fairly certain those are locked too

[oblique kettle]

I don’t plan on selling. I’m staked for 12, but I’ll keep a few tokens unstaked for the hell of it.

[gloomy gazelle]

yup locked starting from the time you claim them

[full sedge]

Yeah I mean at the time you are able to sell

My plan I went all in on ILV/ETH

Max risk, max rewards

[oblique kettle]

i think that’s a good bet. You can also stake them for less time 🙂

[dense relic]

oh you can?

Is there an option for right before March? lol

[oblique kettle]

Yep!

[prisma juniper]

Yes roughly 28 or so weeks

[oblique kettle]

There is a slider that allows you to choose how many months you want to stake for.

[dense relic]

and because I'm new to this stuff...say ETH goes to 6k in that time, not saying it will but you know crypto is crazy.

[oblique kettle]

Less time = less rewards

[dense relic]

I'm a bit confused, does the USD between ETH and ILV need to remain constant?

[rain parrot]

You can stake them with no lock up peroid. it's like 52% apy

[full sedge]

ILV actually follows ETHs movements, why is that?

[gloomy gazelle]

NFA... so I believe the technical term for what you are actually doing when you claim your rewards as ILV is VESTING... since you can't use them yet but have to wait 12 months. It'll be a CLAIM when you withdraw your unlocked tokens though... I think. Claiming sILV is a strict claim since it goes to your wallet.

[prisma juniper]

You staked in the ILV/ETH pool as well? You can't escape the single asset pool anyway as the rewards go there so might also be a good idea to have a few ILV that you can unlock sooner

[gloomy gazelle]

no it doesn't. when it's not the same that is what leads to IL

[prisma juniper]

So then you will be close-to-max-risk but still maximum rewards

[oblique kettle]

ILV runs on ETH which is why they have a similar market trend.

[dense relic]

well okay, so in that regard...if ETH sits at 3k, and ILV goes to 1k by the end of the year

Then don't you lose a crap ton too?

[gloomy gazelle]

yeah check it on the pinned IL calulator

but you lose ILV in that situaiton

[pliant pulsar]

no way ilv pumps that much and eth isnt pumping too

but im dumb nfa

[gloomy gazelle]

so ILV was at $30 a few weeks back

[oblique kettle]

Don’t remind me lol

[full sedge]

So in this regards, the ratio will most likely stay the same, so the IL won’t be a big percentage

[prisma juniper]

You're locked for a year? maybe by then eth 2.0 leads us to the promised land and it catches up with ILV, which also coincides with seed/team tokens unlocking so the value of ILV might dip as well. Then ILV and ETH would be a bit closer in value. but i'm just speculating

[gloomy gazelle]

Some have been been experiencing the IL since $30... gotta be rough

[dense relic]

I know ILV was dumb cheap literally a couple weeks ago. If they had just bought like 300 then which wouldn't have been bad...

And held, oh man they'd be in some money lol

[gloomy gazelle]

ILV was at $70 ish when the whole staking system started

[oblique kettle]

Yes, just because ILV runs on ETH doesn’t mean ILV with pump or crash as much as ETH. ILV is its own beast.

[full sedge]

You won’t be losing out cause ILV has gone up to $1000

[dense relic]

you apparently lose 20% due to IL

[gloomy gazelle]

yeah not a big deal when you are earning 600% apy

[prisma juniper]

Yeah if ILV is 1k per token after a year then 600% APY covers IL and then some

[full sedge]

But if they bought at $30, and it’s gone up to $250 now, why would IL even matter?

[gloomy gazelle]

if they had gone all in ILV instead of going 50/50

[full sedge]

Yeah the 600% will covers a crap tonne of what the IL is

[mellow thorn]

Ilv top 100 crypto in 1 year

[oblique kettle]

I staked in the main pool for 12 months. My next top up I’ll go for the SLP play and then my third top up I’ll stake those unlocked and repeat this pattern with DCA.

[rain parrot]

Am i correct in thinking that when you provide liquidity you have to basically buy back the token for whatever the current price is? so they effectively sold at $30?

[gloomy gazelle]

FUD

ILV to top 20 at least

but hey i'm all in so

[mellow thorn]

he just has to start the game and if he has no problems he can easily do a x 3 in a day

[spiral flame]

https://tenor.com/view/anakin-starwars-underestimate-gif-7915876

[gloomy gazelle]

no

[full sedge]

We are in good hands

[dense relic]

top 10 is what im thinking tbh. If the game is as good as I feel it's going to be. Easy to play, hard to master, optimization patterns, ability to speed run or go through every little thing...I could see this going top 10 for sure. Pulling in 4bil in 6 months...(((Wait the staking does NOT include % of revenue share does it?)))

[prisma juniper]

the only question mark is how much would ILV be worth after a year, when the seed/team tokens unlock

[oblique kettle]

@spiral flame maybe not the best reference as shortly after that Anakin had his legs chopped off.

[full sedge]

The team is very active

[gloomy gazelle]

ok lets move this convo to #💰〕token its not really about staking anymore

[mellow thorn]

players who don't understand crypto need to find it easy ... how to pay directly by credit card etc.

[prisma juniper]

Yeah sorry

[gloomy gazelle]

hey it happens

[full sedge]

https://tenor.com/view/im-sorry-bow-puppy-eyes-apologize-gif-8326897

[gloomy gazelle]

they plan to have onramps

[ruby sapphire]

What is the difference between extracting ILV and sILV? Withdrawal of ILV needs to be locked. Is there any benefit during the lock-up period?

[gloomy gazelle]

it gets to earn more ILV... so compounding your rewards

[gloomy gazelle]

sILV is only usable in game and cannot be staked

[ruby sapphire]

Withdrawing ILV means reinvesting income, right? If the rewarded ILV is not withdrawn, the ILV that originally received the income has no income, right?

[golden stirrup]

i can't stake my ilv, tried twice no luck

[slender ocean]

are you trying with the LP... you need to provide liquidity first in sushi swap

[solar cedar]

What's it saying, at what point ?

[golden stirrup]

I have ILV on my metamask and is connected then I clicked staking>core>stake. Until now the transaction at metamask is on the queue tag as 'Approve ILV spend limit'

[golden stirrup]

I don't know if i did it right, lol

[golden stirrup]

nope ILV

[solar cedar]

In solo ILV pool? What does it say for balance when you hit the stake button ?

[golden stirrup]

yes in solo ILV pool, after hitting stake then a popup confirmation from metamask then confirm

[solar cedar]

does it show an error? Is it still pending? What is last entry under activity in MM ?

[golden stirrup]

no error, queued but not pending

[solar cedar]

If it's queued then you must have 1 txn pending already ? maybe unrelated to ILV ?

[golden stirrup]

yes you're right

[manic spindle]

That would be my guess as well according to the conversation so far 🙂

[golden stirrup]

do i need to cancel the pending transaction? i think its already dropped since its a duplicate transaction

[manic spindle]

No idea what transaction it is but cancel, wait or speed up are usually the only options I think 🙂

[solar cedar]

speed it up or cancel

[golden stirrup]

yeah thanks, need to spend another gas fee for cancelation etc. 😆

[solar cedar]

yeah but it would be much less. like a dollar or two

[candid plover]

He can nonce it but I’m too busy to explain atm

[golden stirrup]

i have 5 dollars left still it says "Not Enough Gas" to cancel, sad hahaha

[keen verge]

Does anyone know If I were to lock 6 months and my weight now is 1.5x then can I choose to lock another 6 more months and get it to 2x or do I have to lock 1year again

[cunning perch]

to receive 2X weight you need to lock it for 12 months. even after 6 month I believe if you wanna get the 2X, then you have to lock for 12 after the release. When your tokens are unlocked, you don't have to withdraw them, they will sit there generating rewards with the 1.5x weight you mentioned. if you withdraw, you lose any weight your tokens are at.

[keen verge]

Thx for clarifying 👍

[cunning perch]

No worries 🙂

[spiral flame]

will the unlocked stakes after 12 months remain its 2x weight until you withdraw them?

[cunning perch]

Yep. When they are unlocked, you can keep them there to keeo receiving YF rewards. IF you withdraw them, you'll lose the weight and have to lock for another year if you want the weight backl

[spiral flame]

ohh cool

[cunning perch]

literally, Just stake and forget about it lol. It'll keep giving you rewards (for 3 years) and Rev for as long as you keep them in the website I believe so. Can you confirm @manic spindle ?

[manic spindle]

Yes, unlocked tokens keep their weight and remain staked as long as they remain untouched

[cunning perch]

Thx bro.

[brisk surge]

Gonna love that 2x weight unlocked

Can someone provide a link on how Rev dis will be distributed among pools

I suppose its in the medium but on the mobile kinda hard to get there lmao

[manic spindle]

Token weight = relevant for RevDis. Pool weight = NOT relevant for RevDis.

[brisk surge]

Okay so ilv or slp get the same if they are valued the same?

[manic spindle]

"Participants in both the $ILV / ETH and $ILV staking pools are given equal weighting for the purposes of Vault distributions."

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

[brisk surge]

Okay nice thanks

[signal kettle]

With EIP 1559 launching in less than 24 hours, should fees (Gas) decrease for claiming tokens after its launch?

cause gas fees basically take up a chunk

[full sedge]

Hello

[rich patio]

hi!

[silk meteor]

After locking Sushi LP for 1 yr for 2x weight, what happens to claimed ILV rewards if I decide to unstake LP? Or I’m not able to unstake at all?

[manic spindle]

If you lock your deposit then of course you cannot unstake until the locking period is over. Wouldn't be much of a lock otherwise, right? 🙂

[silk meteor]

Guess Lock means locked out from fud-selling early 😂

[manic spindle]

Has to be some drawback for getting bonus rewards from both yield and revenue distribution due to a higher token weight 🙂 Also, long-term lock can be seen as support to develop

https://tenor.com/view/diamond-hands-diamondhands-gif-21620660

[brisk surge]

Paper Hands don't make diamonds baby

[dapper raft]

Is it better to stake on sushi LP than single staking?

[potent flare]

up to you (yes it is)

nfa tho

[ruby wing]

Depends on how much IlV you want to stake and how comfortable you are with gas fees etc

[sterile grove]

went to look at the staking page. seems like there's some changes? we don't need to claim the earned SLV anymore and it auto stalks?

*stakes

[granite plover]

the staking systems like Defi platform right ? Like ILV-sILV

it call governence token ? im i correct or something?

[sterile grove]

ignore my question, i actually went to claim the token. 😦

[gaunt fox]

i read the staking pool is lock a 1 year? is this true?

or can you remove the coins whenever you want

whats the annual percentage?

[thin patrol]

APY changes depneding on how long you lock for

[gaunt fox]

where can i look up this information?

[thin patrol]

on their website and then the staking page - i will send a link

https://staking.illuvium.io/

[gaunt fox]

oh ok thank you Jax!

[thin patrol]

Np have a nice day

[nimble vale]

Does anyone mind explaining the benefits of staking ?

[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

[fringe spade]

i had 15 dollars in rewards already, I just started a new stake, did that cancel my old rewards?

Oh they become sILV now, I can one only gain rewards in one or the other?

[thin patrol]

Did you claim it?

[fringe spade]

no I just staked new ILV

[mint cave]

when you stake more, it will claim your rewards, you can select ILV or sILV when this occurs

also, when you unstake, it will claim your rewards - again giving you the choice of ILV and sILV

[fringe spade]

Ohh and so my new rewards, i can choose to either claim in ILV or sILV?

[mint cave]

yep yep

[fringe spade]

ooh love it, thank you mate.

[lapis lark]

so I guess it's better to claim sILV for ingame stuff once the game launches?

[cunning perch]

sILV will be available to claim until YF ends. Be advised that sILV doesn't generate revenue while ETH does. sILV will not mint ILV, which means less tokens and probably pumps the ILV price, yet no Rev will be allocated to it

[fringe spade]

But you could sell sILV for a ingame item and sell that item for ETH i am guessing?

[cunning perch]

sILV is used for certain stuff, like traveling or curing shard. The market place will only accept ETH

[fringe spade]

gotcha, thanks.. but this can change in the future if community wants it i guess?

[cunning perch]

If DAO wants, anything can change, but for now this is the idea.

[mint cave]

in a roundabout sort of way, you could cure the shard with sILV then sell the shard for ETH, or pay your travel fee with sILV then catch a rare illuvial and sell it for ETH

[cunning perch]

what Jeff said 👆

[mint cave]

and i suspect a secondary market will open for sILV on sushiswap/uniswap as well

[fringe spade]

Jeff is amazing ;p

[mint cave]

that will be interesting to follow

[cunning perch]

it might probably happen after the game release. I suspect too. We'll have to see

[cunning perch]

You have NOOOOO idea

[fringe spade]

This will be great if they deliver what they promise, great to be so early.

[cunning perch]

They will deliver. so far there have been mere delays, but the delivery exceeded expectations and will continue to do so.

[fringe spade]

I am ready 🙂 ..

[uneven garden]

holy cow the gas fees

[thin patrol]

yeah i want to stake more but $100 per is insane

[uneven garden]

i should've staked when it was $20 tbh lol

[prisma juniper]

Yeah, if I see 20 im pulling the trigger.

[brisk surge]

yeah gas is straight insane rn i dont know whats going on

[smoky canopy]

Is there any app that can remind you when gas hits a certain amount? I guess it's really high due to axie etc right now?

[oak peak]

It’s high due to London fork

[thin patrol]

can't wait for it

need lower fees now

[onyx parrot]

Has it been a month yet since staking started? Quarter billion already locked up is quite impressive

[austere vault]

is there any way to determine IL at this moment

[onyx parrot]

How is there IL? It's single side staking. Is it not?

[austere vault]

thanks

[austere vault]

im not sure if thereis and how it fully works honestly

[polar apex]

if you stake the liquidity provider token, there is IL

[austere vault]

i have a 1 eth to 10 IL ratio from 3 days ago

[polar apex]

if you stake ILV only, there is no IL

[austere vault]

i staked SILv

not sure it was the right move at this moment in time.

[austere vault]

its that the best move. ?

[polar apex]

depends on too many factors, no one can say for certain.

but it is the pure ILV exposure. if that is what you want, then you should stake that one

[austere vault]

but if eth shoots up, right now its not too good for me is it ? lol

[glass carbon]

did you stake today? it depends on whether or not they move together. for IL best case they stay proportional and both go up. worst case one goes up and the other goes down

[austere vault]

Thanks for response, i staked 3 days ago for a seven day period to try it out, so far they been both moving the same direction. but Eth at a higher percentage.

[austere vault]

ok thanks, ILV exposure ? what you mean ?

[polar apex]

if you want to maximize the ILV you hold no matter what I meant

[glass carbon]

exposure is like you're exposed to the risk and reward associated with it. since SLP requires ETH you're exposed to both ETH and ILV

[austere vault]

oh got you

[austere vault]

yeah i because if the rewards are what they are right now, it could offset the IP.

[polar apex]

that may be a good bet based on recent trends, but these things are subject to change so no one can guarantee anything for you. you have to make your own judgment and see which you prefer

[onyx parrot]

Wait I'm confused. If you're staking on staking.illuvium.io, you can be exposed to IL?

[copper dawn]

only in the ILV/ETH pool with SLP

[cunning perch]

you stake ETH/ILV in Suishi and then take the SLP token and lock it in ILV website, therefore you will be exposed to IL.

[onyx parrot]

Okay, I was like. IL is only relevant when you're providing liquidity.

[cunning perch]

yes in the SLP you'll be exposed to IL.

[north bluff]

hey guys one question for the staking: So im staking right now - I have the option receive ILV but for that Ill have to lock the profit from staking for 1 year. If I dont lock it I will receive sILV and can use it immediately once the game is out ingame. But will 1 sILV be worth 1 ILV? Are you able to change the sILV token to the governance token?

[potent flare]

if you want to receive rewards as ILV then they will be locked and vested with x2 weight, if you want to collect sILV then you can do it, they wont be locked, and they have equal value

and i dont think you can change sILV to ILV, i might be wrong

[north bluff]

So i need to close my position every 2-3 days, and claim ILV for governance but it will be locked for 1 Year.

the 1 year block of ILV is after claiming?

[lethal kite]

@cunning perch has more input on this?

[whole elk]

You have to close your position to claim the ILV rewards? I am slightly confused about when I am able to claim. It says they are locked for 1 year so I just assumed I would have to wait 1 year before being able to claim the ILV i have yielded thus far

[cunning perch]

what Ami said 👆

[north bluff]

So i can leave the staking in for 1 year and after that claim as ILV

[lethal kite]

basically, claim if you have a substantial amount of ILV rewarded to you that beats the gas fee then you can get more ILV staked.

it counts, the rewards claimed, towards your staking total (correct me if I am wrong)...

[potent flare]

but when you claim it is going to be locked fro 1 year, you can wait for 1 year to claim, but then after you claim they are locked for 1 year

[cunning perch]

you have to claim occasionally as the rewards will stay locked for 1 year after claiming. be mindful of the gas

[whole elk]

I see, so any claimed ILV has a lock on it?

[cunning perch]

any claimed ILV will be locked for one year starting from the time you claim

[whole elk]

Thank you! Just to clarify further, any ILV I purchase off of SushiSwap is not subject to the locking though correct?

[cunning perch]

if you buy ILV and simply hold in in your wallet, it'll be like anyother coin and will not receive any rewards and will not be locked. to lock it you either need to do SLP and/or in the single asset pool directly on the website

[north bluff]

understand. Thank you!

[whole elk]

Ok so lets say I turn ILV into an ETH/ILV liquidity pair. I am able to unstake that and turn it back to Eth and ILV again, but any of the ILV rewards I get from that are vested for a year

[cunning perch]

depends, if you lock your SLP (lets say for one year to get the 2X weight), then you cannot withdraw it until the locking period ends. Meanwhile, you need to claim your YF rewards occasionally because they both add to your stake and generate rewards AND will also be locked for one year from the moment of claiming.

[whole elk]

Thank you for clarifying!

[cunning perch]

Anytime. It is worth mentioning that staking ILV will also receive Revenue after the release. So in the future you will get both YF rewards and a RavShare

[whole elk]

https://tenor.com/view/smile-nod-yes-robert-redford-beard-gif-10489927

[cunning perch]

you need to increase your rank to Ranger to be able to use GIFs 🙂

[whole elk]

ah hahah, how do I do that?

[cunning perch]

be active, but don't spam. Use the right channels for the right discussions. Game stuff in #💬〕general , token price and tokenomics in #💰〕token and Staking questions here.

[whole elk]

Cool, well thanks Arash. I'm crazy stoked on Illuvium so that should come naturally 🙂

[cunning perch]

Glad to hear it. Feel free to ask whatever is on your mind that you need clarification for. 🙂

[dense plover]

Proud owner of my first ILV and wanting to stake it, but Im also seeing ridiculous gas fees 😫 Anyone know if EIP 1559 will help with that?

[magic laurel]

gas will hopefully calm down in the coming days

[manic spindle]

Not sure about that but congratulations to your first ILV and hopefully a bit of luck to get it staked 🙂

[magic laurel]

and it might even lower cuz of eip a bit who knows just hoping for the best

[mint cave]

EIP 1559 will not lower gas fees

[vivid ruin]

Does anyone have a calculator for how long to wait before restaking? To determine profitability vs cost of gas.

[ruby wing]

Check pinned might be something

[vivid ruin]

ah cool thx!

tbh i dont understand the calculator.. lol

[dense plover]

Bummer. I read that its going to set a base gas fee, but I didnt know if that would also amount to a lowered gas fee.

[vivid ruin]

what does "Your boost in ILV pool" stand for?

[ruby wing]

It means the weight at which your initial amount is boosted by based on your locking period

for example, 52 weeks means that your yield is boosted 2X weight

[vivid ruin]

so for instand:

now, 2 weigth 100% APY?

[dense plover]

Whats a reasonable gas fee for staking? First attempt was $17 and I thought that was insane. Then I checked a couple hours later and it was $100+ LOL. Should I have taken when $17? Was that about as good as it gets?

[glass carbon]

yeah that's correct for ILV only pool

[vivid ruin]

cool, think i got it.

[glass carbon]

honestly you have to assess what's best in your situation. when gas is low it costs less so just look out for lower numbers https://www.gasnow.org/

[vivid ruin]

probably better to wait longer and save up 2-3 times gas fee to buy more ilv atm.. but ye i will do some number crunching 🙂

[vivid ruin]

ah handy! thanks i will save that for later

[whole elk]

$17 is slightly higher then I would like, anything under $14 and I'm happy

[dense plover]

Thanks for the link. Super helpful!

[hoary pine]

Do we get any special roles in the discord when we stake ILV?

[ruby wing]

No but this is a good idea 🙂

[umbral niche]

Hello! Was wondering if I could talk to a moderator in DM about stuff regarding illivium. Kind of confused at some things right now lmao and I can't really follow most of the messages

[valid kite]

17 isn’t bad, it’s a one time fee so I would say just try anf make as few transactions as possible

[eager rover]

Feel free to ask in here people are willing to help you out

[valid kite]

#814313779696238642

Or ask here, we happy to help

[ruby wing]

Sure ping me there

[brisk surge]

Is there a benefit to doing the ILV staking as opposed the the Sushi LV staking?

[ruby wing]

Check pinned messages and read #🔗〕helpful-links medium 28

also searching the discord for specific convos can help

[abstract briar]

What is ilv staking apr?

[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

[mental tangle]

The more you stake the more you get back.
Same with LP but you have to consider impermanent loss

Whether or not you lock in is also a huge factor.

@umbral niche

@umbral niche https://www.illuvium.io/staking-faq

Is there anything specific you want to know?

[umbral niche]

Ohh I understand thank you! Right now I am sort of clueless. Have you staked any ILV? @mental tangle

[mental tangle]

Yes. I have staked in both the single $ILV pool and the ILV/ETH LP
I'm no expert though tbh

[umbral niche]

Hmmm okay I understand. I also remember having the chance to receive sILV for in-game stuff but I don't think anything in the paper mentioned about numbers on what the potential earning figures look like when you invest

Do you have any idea about it? Like even an approximation would be helpful

[mental tangle]

The earnings are fluid. They change over time based on several factors

Last I looked the single pool was at ~150% APY and LP was ~600% APY
But like I said. It changes constantly and will drop over time

[umbral niche]

Oh sorry I think i forgot to mention I meant in-game earnings. Similar to like how you earn slp in axie when you play

[azure jewel]

is your rewards automatically compounded while staking?

[umbral niche]

Just for the purpose of figuring out how valuable sILV would be

[rough bough]

Also wondering this

is there any gas when clamining

[mental tangle]

Yes

[mental tangle]

Well you burn ILV to create sILV. So when you claim sILV it's a 1:1 ratio to ILV in value. Your earnings would be whatever rewards you make from staking or later on from Rev.Dis

It's hard to tell you what that actual amount would be. It's constantly changing.

[umbral niche]

Hmmm interesting. Does this also imply that every burned unit of ILV creates a unit of sILV? Or is that not the case?

I'm assuming that the play to earn aspect comes from the game allowing you to generate more sILV vs ILV invested. Is this the case?

[rocky flax]

hello everyone how often do you claim ILV

okay, I have 3

I will just wait

[umbral niche]

Which of the methods you stated would like generate the most earnings? Or do they all provide similar amounts?

Or is there any documentation out there that mentions these specific details?

Okay thank you so much!!

[vapid topaz]

Hi there, just a quick question, for the rewards on the staked tokens, do you either choose to get the rewards in ILV or sILV, OR get them both?

[glass carbon]

You need to choose

[vapid topaz]

Alright, that's all I needed, thanks!

[abstract briar]

What is ilv contact address?

[ruby wing]

https://www.coingecko.com/en/coins/illuvium

Get it from here

[lost dove]

does the vesting start once you claim your ILV staking rewards or from the time the rewards are accrued?

[ruby wing]

You need to claim to vest

[lost dove]

Got it, ty. So basically the only issue is just managing gas fees I assume?

but you want to be claiming in order to start the vesting correct?

[ruby wing]

Yup

I only claim when gas is 10 GWEI or lower

[finite shale]

$37 for gas ugh

[deft echo]

If I don’t claim the reward will my staking be compounded or after I claim it and while it is vesting?

[ruby wing]

this is nothing

[ruby wing]

scroll up, in order to compound you need to claim

[lost dove]

ty

[finite shale]

Yeah. I know. But I started the crpyto game when it was like $7 a few months ago... I know it was a lot higher before 😆

[ruby wing]

ya haha

[deft echo]

I wish I did 🥲 I am glad u r killing it 🕺💃

[deft echo]

Thank you! So during vesting I still compound

[finite shale]

Kinda hurts my heart when I invest something and gas is 1/10th of the cost... But if I buy later than sooner, the price of ILV might explode.

and the gas fee would be worth it haha

[deft echo]

Would you guys recommend staking ILV locked for a year?

[ruby wing]

yes

at 2X weight in single pool

[ruby wing]

completely up to u mate, I have no clue what ur situation is

[deft echo]

I mean it’s only two ILV and I am 18 so I am still dependent meaning I can keep it for long

Just been thinking about that 2X weight

[ruby wing]

Just know that gas is expensive so it might only be worth it to claim lets say every other month

so you might need to lock for longer to see significant yield

[deft echo]

Omg I forgot abt gas

Yeah I see what you mean that makes a lot of sense

I’ll put it down for 6 months and claim rewards or 3 months

I’ll calculate it and will announce options to a 1 ILV price

[pastel heart]

nb question... once Ive put down some ILV will I be able to sell it later? I mean, this is just like any other crypto right/

[deft echo]

Yeah, but if u stake then you need to wait a 12 month period of vesting to get the rewarded ILV back

[pastel heart]

humm... what about the flex pool and stuff? I tought I was supposed to be fixed on the time u choose or anytime if u pick flex

[deft echo]

Or smth like that

[deft echo]

U could get ur reward at any time but u can’t sell it cuz it has to go through a vesting period to turn into ILV but u can use it right away if u turn it into sILV

[pastel heart]

hummm kindda make sence... Im still figuring out this staking thing... but thx

[ruby wing]

there will be a gas fee going into the pool and coming out

just something to think about

[pastel heart]

and how much is it?

[ruby wing]

based on GWEI prices

lets say 5-25$ when Gwei is low

so if you have a small bag. Its not worth it unless you lock for a long time

IMO

[pastel heart]

damn more initials to look trghou! lol

is 350$ considered a small bag?

[ruby wing]

for staking yes

but if you stay in the pool long enough it could be worth it

[pastel heart]

sad... it sux to be poor on the 3rd world! lol

[ruby wing]

Remember, you dont need ILV to play the game! If you want to build up your ETH bag to use in game that can benefit you as well

[full sedge]

Morning guys

[pastel heart]

thats good advice... but I was hopping to make some profit out if it i know

[deft echo]

Don’t worry

[pastel heart]

u know**

[deft echo]

You could always start low and add little at a time

[ruby wing]

exactly 🙂

[full sedge]

How come the SLP APY just had a massive jump? Was at 615% now 655%?

[ruby wing]

slightly tied to USD value

[pastel heart]

yeah! thx guys

[full sedge]

So the more it’s worth compared to USD the higher APY will go?

[deft echo]

Doesn’t the risk increase if the price of ILV increases a lot?

[sonic wolf]

ETH and ILV numba go up

so your APY returns increase in dolla amount

[thin patrol]

APY will maybe fall also cuz of more stakers

[sonic wolf]

you dont wanna be in ILVETH pool right now

1000$ is coming, by end of month

[thin patrol]

you mean you want to be in the pool?

[pallid helm]

where do i stake?

[thin patrol]

https://staking.illuvium.io/

[pallid helm]

goood looks

how late am i lol?

ILV rewards are subject to a 12 month vesting period. While they are vesting they compound your rewards."

[ruby wing]

Correct

[sonic wolf]

game is not launched yet

[ruby wing]

2X wait

[sonic wolf]

so pretty fucking early

[pallid helm]

the 12 month vasting period started already?

[thin patrol]

not at all'

[pallid helm]

im putting a bag into this🛍️

[ruby wing]

Bet

[swift fog]

12 Starts when you stake.

[pallid helm]

https://tenor.com/view/the-office-bow-michael-scott-steve-carell-office-gif-12985913

[sonic wolf]

when you claim rewards* ^

[swift fog]

this! Sry @pallid helm

[full sedge]

I’m all in on ILV/ETH. If ILV hits $1000, would it have been better for me to just have went into the single pool?

[pallid helm]

https://tenor.com/view/thanks-again-michael-scott-steve-carell-gif-11680594

definitely need to put some money in soon

[sonic wolf]

Thats totally up to you

if you all in then you have 2x multiplier, if you want to stake and withdraw you have only 1x

[full sedge]

I went SLP because I wanted to go max risk max rewards.

[sonic wolf]

on longer time horizon, ILV release will coincide with ETH2.0 launch, so both token will moon hard

[thin patrol]

risky for the biscuit haha

[sonic wolf]

so it does make sense to do 2x multiplier and just claim every time

[full sedge]

Isn’t it more than 2x multiplier? As core is 100% SLP is 600% apy

[final steppe]

Taking those numbers for example:
If you stake in SLP but do not lock your tokens, you will have 300% APY
If you stake in SLP and lock for 12 months, you get the 2x multiplier and have that 600% APY.

In the core unlocked: 50%
In the core pool locked for 12 months: 100%

[full sedge]

Yeah I went locked 12months, all in, win or die lol

[thin patrol]

great gl !

[full sedge]

Yeah I been waiting for gas fees to come down to claim for 2 days already. But it never comes down to 10 or 20 gas

[full sedge]

Thanks bro

Have you guys worked out when the approx best time in the day to claim rewards? Instead of logging on 100 times a day to check lol

[thin patrol]

nope haha its fun to log on and check

[full sedge]

Man that’s awesome, new news to me

[full sedge]

Yeah but my whole life literally evolves around all the crypto Investments I made, pretty much quit my day job lol

[thin patrol]

lol me as well

[full sedge]

It kinda forced me to

[sonic wolf]

make sure to be safe with your stuff

clean crypto pc, hw wallet, never share seed

[full sedge]

That’s good advice for sure

[sonic wolf]

since now your lifestyle depends on your crypto, its important not to loose or get hacked

[thin patrol]

Yeah im scared AF

[full sedge]

I may need to invest in a good anti virus, any suggestions ?

[sonic wolf]

I ran Malwarebytes + MS defender + Bitdefender at same time

[full sedge]

Okay I’ll look into those and if good I’ll purchase them

[sonic wolf]

no browser extensions cept Metamask + separate crypto PC + full disk encryption

[full sedge]

Wow man, okay you got me paranoid, I’m gonna follow your path

[sonic wolf]

also hw wallet with seed words divided into 3 bank vaults

[full sedge]

Sorry what’s HW?

[sonic wolf]

hardware

i use ledger for example

also my seed words are XORed, so even if you put together all seed words, you still need to reverse XOR, and that part i keep in my brain only

also makes sense to create 2-3 additional seed wallets with 1-2% of your crypto. In case of 5$ wrench attack, you can give them your additional seeds and make them happy with couple thousands of dollars

[full sedge]

looks like I got some research to do, sounds complexed lol

It must be done

[thin patrol]

For your safty yes!

[cinder kettle]

Assuming that ETH will not rise at the same rate as ILV, the single asset pool will likely gain more due to the impermanent loss. But take your own risk.

[sharp rover]

😂😂😂 really good advice I never thought about that. I always carry a bit of cash on me for that reason but never thought about it for crypto

[lapis lark]

most of you in ilv pool only?

[cinder kettle]

There really is such a thing, i just found out, lol.

learning everyday with crypto

Advanced version of flash loan

[vague thistle]

What's the advantage of staking 12 months vs 52 months? You end up with 3X ILV?

[exotic igloo]

You can only lock up to 12 months

[vague thistle]

O

[exotic igloo]

After that the tokens are unlocked but keep their 2.0 weight until your withdraw them

[vague thistle]

Oh so you can keep farming after the unlock then

[cinder kettle]

yes, and you'll even get APR as if you locked them out for 12 months as i know of.

[exotic igloo]

Sure they stay staked

[vague thistle]

I wonder when this thing goes sideways

[exotic igloo]

Never

Vault buys will put an immense pressure on the price

[unborn ibex]

Good morning everyone! How much is the minimum amount to stake in Core?

[exotic igloo]

No minimum!

Just make sure you have enough eth to cover for gas fees

When staking and claiming your rewards

[valid kite]

Any idea why my ILV rewards from staking have not gone up in the past 24 hours ?

Does it update at a certain time or is mine glitched

[brittle girder]

are the staking APY's going to be like this for the three years?

[exotic igloo]

Every 13 seconds

[brittle girder]

Not 100% sure but i don't think there is a minimum

[valid kite]

Any idea why it isn’t going up then

[exotic igloo]

They are updating every 13 seconds

Every block

[exotic igloo]

Can you send me a screenshot

Have you tried refreshing

[copper dawn]

Is the correct account connected through metamask?

[valid kite]

Yeah, it’s my account and I can see my amount staked

[brittle girder]

So when you lock up for staking it doesn't keep the same rate you locked in at?

[valid kite]

But my rewards are stuck at 0.0079 and have been for over 24 hours

[exotic igloo]

Not normal

Refresh

[valid kite]

I have been

[exotic igloo]

No.

Always changing

[valid kite]

I just opened the illuvium site fir the first time since last night

[copper dawn]

Try reconnecting your wallet (click on your address, disconnect, then reconnect).

if that doesn't work, I would try quickly through a new browser. If that fails I would reach out for help from the team

[hoary oar]

which pool should i stake in? i never really staked my coins so i would need a bit of guidance if possible

[neon iron]

Do you need an equal amount of eth/ilv to stake? And what pool do is take in

[vague thistle]

Does it cost gas to claim sILV?

[exotic igloo]

Yea so you should wait for game release if you plan on only claiming sILV

[exotic igloo]

Depends on your risk tolerance, SLP pool is more risky and has impermanent loss.

Also cost double the transactions fees to stake, claim and withdraw

[exotic igloo]

That is for the SLP one. For the ILV pool you only need ILV

[vague thistle]

If I stake 1 ILV, then I can claim 1sILV when rewards come and I'll pay gas to get that. My other ILV stays and I can use the sILV right away. Is that all correct?

[valid kite]

Yeah

[vague thistle]

How long will it take to get that 1sILV reward?

[exotic igloo]

Yes

[exotic igloo]

Around 1 year at current APY

But by then ILV could be worth 5k who knows

[valid kite]

Depend on how much ILV you stake

[vague thistle]

How could it get to 5K?

[valid kite]

The price of ILV could go up to 5k

Hypothetically

[copper dawn]

You can roughly calculate it with the APY. This is variable though so it will change. Assuming it did stay constant, you would only receive 0.0875 ILV per month if you staked 1 ILV.

[lapis lark]

so stake in ILV for a more stable pool but lesser rewards. Stake in sLP for more rewards but risk impermanent loss?

[vague thistle]

What's the math on that?

[valid kite]

Yeah that’s basically it, the SLP pool is higher risk higher reward and if you are playing with more money then it could be worth

But if you are staking just a few ILV then the basic ILV pool is a better idea because your tokens will not be eaten up as fast in gas fees and impermeable loss

[exotic igloo]

Yes

[lapis lark]

the loss doesn't seem likely as majority are just going to just buy and stake at least in the foreseaable future I think

[valid kite]

What do you mean man? That is just a different conversation. About the actual token price not the APY

[exotic igloo]

I'm already at a 500ILV loss

So its real lol

[sonic wolf]

Use this chart

[lapis lark]

wait what people are already selling lol

[valid kite]

The loss isn’t due to people selling, it’s due to a difference in price change between ETH snd ILV

[sonic wolf]

5x increase in price leads to 25% loss due to IL loss

[vague thistle]

I thought you meant the price of ILV could be 5K and I was wondering how

[lapis lark]

Oh

[exotic igloo]

Not realising the loss yet no. Only compared to holding ILV

[sonic wolf]

trick is to wait withdrawing until ETH2.0 later this year

[exotic igloo]

The price can reach 5k yes

[valid kite]

Well let’s say the game blows up it could go up there, currently I think if it got as big as AXIE infinity it would be a 2000 token

[sonic wolf]

ETH should comfortably moon to 10k and beyond

[copper dawn]

A $5k price could be possible if we had ~4billion marketcap.

[valid kite]

Watching the London fork close

[vague thistle]

What would the market cap need to be if it hit 5K?

[valid kite]

Exactly, which isn’t crazy

[vague thistle]

Yeah, I was wondering how you do that math

[lapis lark]

I see. So if ILV jumps to, let's say 2k, there will be a huge discrepancy between the price and the pool causing more impermanent loss? Am I following this?

[valid kite]

BTC market cap at highs was over 900 billion

[copper dawn]

AXS is at 2.6 B right now

[valid kite]

Only in the SLP pool, not the ILV pool

[copper dawn]

Price * Supply = MC

[lapis lark]

cool. got it now

[cinder kettle]

Well, it should be much more bigger than that.

[sonic wolf]

5k ILV is #38 just 1 place higher Shiba Inu

[valid kite]

When there are two tokens the math becomes more difficult and that is where the inpermanent loss comes in

[vague thistle]

But 5K at 10M coins is a 50B cap

[valid kite]

We will see, I am waiting for this gameplay trailer

[sonic wolf]

FDV dont matter

[lapis lark]

that's a mega size corp right there 🤣

[exotic igloo]

Sure but there will be never full supply in circulation

Because you need to be staked to get revdis

[copper dawn]

We don't have 10M ILV. That's the max possible amount of ILV which could exist.

[exotic igloo]

And people want those revenue distributions so they are not selling either

Max supply will be between 7 to 10M

10M is already impossible as some sILV was claimed already

[copper dawn]

Exactly. when people claim sILV, the ILV reward is never minted.

[mint cave]

and max supply isn't reached until what, 3 years from now?

4?

[sonic wolf]

80 months = 6 years

[cinder kettle]

And god knows how much crypto market cap is gonna be then

[mint cave]

another reason why FDV is a useless metric right there

[copper dawn]

With the popularity in NFT gaming lately, with staking and revdis, and with a beautiful game made by a solid experience team I'm bullish and heavily invested.

When ILV is locked & staked, it reduces the supply and increases the price in the market.

i personally don't anticipate a major dip until march 2022. This is when the first batch of locked coins will be finally unlocked.

[cinder kettle]

There are too many unpredictable parameters so we have to wait and see.

[exotic igloo]

Totally agree

[gloomy gazelle]

No that’s fortnights. Not months.

Same as this one.

[mint cave]

ah hah! that's why i remember it as 3+ ish years

[turbid folio]

hey guys, where is the command on how to stake

[exotic igloo]

Look at pinned comments

[turbid folio]

thanks

[noble haven]

Can anyone offer any best practices around claiming ILV

For example. I have my ILV staked with a 12 week lock-in, and I’m determining if it makes sense to claim maybe 1 time per week so that my rewards can compound faster

While keeping gas fees in mind for claiming

The alternative would be waiting the full twelve weeks and claiming all at once

[gloomy gazelle]

Most think 4 ILV is the right amount of ILV to claim

[noble haven]

Seems like option one will be more lucrative in the long run.

[noble haven]

Why is that ?

[gloomy gazelle]

So the math problem for it to be worth claiming is this…

The ILV you claim should earn enough before your next claim to pay for the gas of the transaction of actually claiming.

[noble haven]

Right

I haven’t claimed any yet. What’s the range of gas fees typically

[gloomy gazelle]

From $4-$40

It’s a huge variety

[noble haven]

Ok

[gloomy gazelle]

Weekends usually are the lowest. Claiming rewards from SLP are typically close to 3x the cost of claiming from ILV only. Because for SLP claims you are actually claiming both pools rewards And the SLP transaction has a higher limit

[noble haven]

I’ll make a model in excel and figure it out. But my assumption is that claiming more often, will actually be better in the long run

[gloomy gazelle]

Check. Pins.

[noble haven]

Because not only do the rewards compound faster but you also get liquidity faster

[gloomy gazelle]

It’s been done

[noble haven]

Ok I will check pins

Sorry what is SLP?

[gloomy gazelle]

It returns with how many hours between claims. But it is based on some estimates of future cost too

Ah. SLP is the ETH/ILV pool. The sushi liquidity provider token.

[noble haven]

Ah understood

Can I claim ILV and then stake it in the SLP pool?

Or does claimed ILV compound in the respective pool that you were staking it ?

[gloomy gazelle]

All claimed ILV is automatically staked in ILV only pool and locked for 12 months vesting at 2x weight

[noble haven]

Ahhh

[gloomy gazelle]

sILV is put in your wallet. But there is no market for it. Just for in game use.

[noble haven]

Thank you ! That weight is amazing

[exotic igloo]

Best to claim once a week on sunday night when gas is low

Thats what I do

[noble haven]

What is the value of sILV for in game use

[gloomy gazelle]

If he does it I do it

[noble haven]

Can it translate to liquidity outside the game

[unreal steeple]

What are the rewards looking like for staking and is there a minimum

[gloomy gazelle]

It is redeemable at the current value of ILV

[gloomy gazelle]

This is from a couple days back… top pool is the ILV only pool

[vague thistle]

What's a good rule for when to stake rewards?

[pallid helm]

which one is the move?

[gloomy gazelle]

It’ll take game play to get it into an in game asset that can be sold for ETH on the ILLUVIDEX

[unreal steeple]

I’m kinda a newbie. I’m guessing there’s like a YouTube video on how to purchase and be part of staking right?

The project looks good and yeah them returns are nice. Are rewards paid out daily or how.

[vague thistle]

What is done with the money that is staked in the pool? Like...today...what's it doing for the DAO?

[gloomy gazelle]

It’s not working. It’s just helping to distribute the tokens and maintain token price

[exotic igloo]

Tutorial video coming up soon

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

[unreal steeple]

😂

[long pawn]

any tutorial on how to buy and stake ILV? How to buy, what wallet to use, etc etc

[lapis lark]

is it safe to lock 52weeks?

hows the outlook by then?

[mint cave]

https://tenor.com/view/fortune-teller-crystall-ball-psychic-clairvoyant-gif-5100696

[lapis lark]

haha fair enough.

[solar cedar]

Warwick project, public beta still to be released, 83765385927652 core Devs, nft AAA game pending release next year. That's a good punt I'd say.

[lapis lark]

Man, I am so torn. I can't decide between ILV or sLP

[valid kite]

How much $ are you working with

[lapis lark]

around $4k

maybe it's too low for sLP?

I feel like it's for whales only

[valid kite]

That should actually be enough, it’s not only fir whales, let me dm you

[gloomy gazelle]

!buy

[woven ibex]

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

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

[gloomy gazelle]

!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

[gloomy gazelle]

I am no whale. But I have a small portion of my bag in SLP. But I got in at fantastic prices.

Yeah it’s all about earning more than your transaction costs.

I think you’d get the job done.

[long pawn]

Thank you @gloomy gazelle

[lapis lark]

alright cheers guys

[full sedge]

hey I'd like to know too, lol

[rustic forge]

hi guys where is the best place to buy ILV? thank you

and i like considering the gas fee and farming slp too

[ruby wing]

!buy

[woven ibex]

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

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

[ruby wing]

you can yield farm ILV or sILV 🙂

!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]

#🔗〕helpful-links Medium 28 and check pinned discussions if u have further questions

[rustic forge]

thank you 🙂

[ruby wing]

Welcome Jess!

Let us know if u need anything else

[rustic forge]

what is the sushiswap used for?

[ruby wing]

Swapping ETH to ILV, it is a Decentralized Exchange

!crypto

[woven ibex]

New to crypto? You may need to KYC (Know Your Customer) with a centralized exchange to turn your fiat in crypto. Places like Kraken, Binance & Coinbase for example. Here are some recommendations from the community.
For American residents, Bitstamp, Gemini and Coinbase
For Canadian residents, Shakepay.
For Asian residnets, Gate.io or Binance

You will also need a Meta Mask wallet (which is free)
Setup guide: https://youtu.be/Sc8J98m6SZE . Also look into GAS / GWEI, as Eth transactions on the ETH network require a gas fee. You can use this historical data to get an idea on GWEI averages https://etherscan.io/gasTrackeristoricaldata
You should also really do your homework and study this further on your own if you're new to crypto.

Illuvium will never provide Financial advice and as always, Do Your Own Research.

[brisk surge]

Hi. I have a question about staking. Can I stake multiple times?

For example:

I staked $1000 this month for a year.

Then i want to stake again after 2 months, will it be possible?