🥩〕staking

[mint cave]

yes

[brisk surge]

Whats the difference between ILV and SUSHI LP (ILV/ETH)

I see that SUSHI LP has higher APY but what I dont understand is whats the actual difference of both

[ruby wing]

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

Sushi has higher APY because of impermanent loss

[brisk surge]

Thanks Wadewatts.

[gloomy gazelle]

Your staked amounts so not withdraw after they are unlocked. They remain staked at their extra weight until you choose to withdraw them.

[gloomy gazelle]

@austere delta no you do not choose anything regarding your rewards when you first stake. You simply choose what you stake. ILV or ETH/ILV in the form of SushiLiquidityPool tokens (SLP)

[austere delta]

But there are two buttons here.... I can’t claim my rewards separately? Because claim ilv need to wait for 12 months

[gloomy gazelle]

So you have some rewards You could claim. I can claim them and they will be either ILV or sILV. sILV comes to my wallet. ILV gets vested for 12 months. And locked in the other pool. The ILV only pool. And will stay as ILV forever. During the 12 months it is earning you more rewards. When the 12 months is over You can withdraw the ILV to your wallet.

But you want to wait to claim I’d say till you have more rewards than that. Maybe 4 ILV total

[steep quail]

no reason to claim $ILV, at least until game comes out, right?

[gloomy gazelle]

Wrong. ILV claimed gets vested. So it compounds your interest from the APY

Maybe no reason to claim sILV till game

Because you can’t use sILV except in the game

[steep quail]

right, the in game token was what I meant. Sorry wasn't clear.

[gloomy gazelle]

$ilv is ILV and sILV is Escrowed ILV. I know it’s weird.

[austere delta]

12 months counted from the time you clicked the claim button?

[gloomy gazelle]

Correct

[austere delta]

Will silv able to sell on ilvdex or sushiswap?

[gloomy gazelle]

sILV will be used in game to pay for actions or buy cosmetics directly from the game store. Things like that.

Or if the newly proposed thing in #🎮〕illuvium-zero goes through than you’d actually swap it in game for a fuel token and you’d use the fuel to pay for transactions.

Something like that.

[terse valve]

Could see a scenario where u trade ur sILV for in game items then sell those items for ETH on the dex

Idk how much profit it would be though

[gloomy gazelle]

Yeah exactly. You’d probably take a small loss in value that way but you get your return right away instead of locked for 12 months

Or you use your sILV to cure a shard(s) and sell the cured shard for ETH. That’d probably be able to be market up value even. Just takes time in game to cure I think.

[terse valve]

And if u invest the sILV in a smart way in game with rare items/ rare illiviums it could even be more profitable

Lots of variables and strategies right now

Yep

[gloomy gazelle]

Or better yet. Cure shard capture illuvial sell illuvial. PROFIT

😂

[terse valve]

Rent out ur illuvials like u can with crypto punks hahaha

[unreal urchin]

If I staked in both pool and let say claim rewards in ILV pool, it means that I only claim rewards from that particular pool, right? Or does it claims from both ILV & SLP pool?

[winged heath]

is vesting an additional 12 months on top of the 12 months im waiting for staking?

[mint cave]

if you are staked in BOTH pools, yes you can claim from the ILV single pool and not claim from the SLP pool

however if you claim from the SLP pool, you will have to claim from both pools at once.

[mint cave]

your rewards start their 365 day unlocking period as soon as you claim them

every time you claim, it begins a separate 365 day unlocking period for those claimed rewards

[winged heath]

@mint cave ok thanks, and after ive claimed, am i still gaining some rewards during those 365 days or no?

[mint cave]

yes, the rewards that you claimed will generate you additional yield. compounding rewards!

https://gfycat.com/dearjitterycopperhead

[unreal urchin]

Got it. Thanks 👍

[winged heath]

@mint cave ok thanks so much, is there anyway i can see what those numbers are (compounding rewards)?

[mint cave]

your compounded rewards will just add to your initial stake's pending rewards

but to see the compounded rewards only, errr, you'd have to do some hefty analysis on your own wallet

[pure nebula]

When will the AXS flash pool end?

[gloomy gazelle]

The end block is in the staking dapp I think

[pure nebula]

is it roughly 2 weeks?

[gloomy gazelle]

Two weeks from the start. Not from now

https://etherscan.io/block/countdown/13001852

[lime epoch]

Hi guys, Is 40 usd normal for gas fee when staking?

[potent flare]

nonono

[lime epoch]

should I wait for the gas to lower before staking?

[potent flare]

gas tracker o the right side, wait for it to go down 10-20

[lime epoch]

Thanks man, I'll wait for it to get lower.

Bro Im really new at staking sorry for the newb question, If I stake my sushi lp on illuvium is ist still viable to receive rewards on sushiswap itself.?

[polar apex]

yes you will still receive it when u cash out

[cunning perch]

There won't be any Sushi Rewards. when you Stake ETH/ILV and then lock your SLP in ILV website, you'll get ILV/sILV rewards for it and not Sushi

[gloomy gazelle]

You still get the fees earned from SLP though. Just can’t stake it for $sushi

[lime epoch]

Thank you guys, btw what time of day does the gas fee generally get lowered? Is there a general time where network activities are low? Or is this the new normal for gas fee for days to come?

[gloomy gazelle]

It fluctuates. But I find it lowest most often on the weekends.

[shadow maple]

hi, if i were to start staking, which pool should i pick?

[sonic wolf]

depends

you need to learn and understand IL

start here: https://www.youtube.com/watch?v=8XJ1MSTEuU0

[shadow maple]

thankyou

[sleek salmon]

check out https://www.gasnow.org there’s a chart at the bottom to see the gas fees throughout the diff times in the week but yeah most often weekends are lower

[mystic temple]

Guys why does this pop up?

[cunning perch]

have you connected your wallet?

[mystic temple]

Yeah

[cunning perch]

so you have connected it and the APPROVE button is off. Have you got some ETH in it?

[mystic temple]

Small amount only.

Do I need to have eth to stake pure ilv as well? Is it because of the fees

[cunning perch]

staking is a form of contract and approval also is one. So, **probably **you're short on ETH (regarding approval), but staking your ILV def requires gas

[mystic temple]

Aight. Thanks @cunning perch

[cunning perch]

no worries my friend. If you still had any questions direct them in the proper channels, there are lots of knowledgeable people who can help you with everything.

[mystic temple]

Can't wait to remove gas fees. 😅

[cunning perch]

it hasn't really gone down for over two weeks. The lowest I've seen so far has been 15 Gwei. If it didn't go lower, I would exercise patience and would suggest trying in the weekend, unless you're super rich and won't care for the gas fees lol

[hexed lion]

Hello,
Just want to make sure I understand as i'm not a native speaker
To stake in the ILV/ETH pool, I need to have, for exemple, around 10 ILV + 1 ETH so I can stake the whole, right ?

[cunning perch]

hey. both ETH and ILV have to have the same monetary value. like $1 ILV and $1 ETH

[hexed lion]

So it sould be around 10 ILV for 1.1 ETH atm, but we do have to stake both amount at the same time 🙂
Thanks a lot !

[cunning perch]

yeah, in the Liquidity Providing Section on Sushi, you can see both ETH and ILV. You have to enter equal amount in $. Then take the SLP (Sushi Liquidity Pool Token) and lock it in ILV website. Be advised that SLP requires more gas as it has higher APY.

[hexed lion]

Oh right, and because you put "double the investment" the APY which looks like 600% would be like 300% of what yu stake in the classic pool, if it's clear x)

[cunning perch]

well make sure you understand the concept of IL (Impermanent Loss) when providing Liquidity. It sounds nice to have a higher APY and get more rewards, but it comes with a risk, that's why the single pool has a lower APY as it has no risk.

[hexed lion]

Yes, i juste watched the video on finematics channel as I try to understand before asking questions 🙂
Thanks a lot for your answers !

[cunning perch]

no problem at all. Feel free to ask whatever is on your mind 😄

[ocean talon]

Hi, will I be losing something If I stake my ILV?

[cunning perch]

If you stake in the single asset pool, no.

[worthy peak]

Well he will loose some gas claiming rewords...

[ocean talon]

yea, saw the gas around 40USD

[worthy peak]

hope after todays hardfork it will go down maybe

[ocean talon]

got it staked at the ILV pool not the SUSHI LP 😮

[cunning perch]

Welcome aboard

[ocean talon]

excited for this game 😄

[zenith stream]

Hi everyone, i don't understand how to stake my ILV and for how much time the stake platform keeps the tokens.
Someone could help me?
Thanks

[cunning perch]

Hey. you can find all the simplest ways of Staking ILV in the mediums in #🔗〕helpful-links . Also, the time of locking your tokens solely depends on you and your plans

[lethal kite]

Will staking be affected by the fork? Gas fee is high now.

[molten badger]

for the sushi LP staking pool, may I check that we are staking SUSHI?

sorry if that sounds silly. I wanted to double confirm

[cunning perch]

Not really, but def gas will play a part in doing so now or later

[cunning perch]

No. In the SLP, you have to stake ETH + ILV (exact monetary value: like $10 ETH + $10 ILV) and then receive the SLP token and lock it in ILV website. Make sure you understand the concept of IL (Impermanent Loss)

[molten badger]

ah that explains Thanks Arash!

[cunning perch]

anytime brother 🙂

[lethal kite]

Sure sure

[brisk surge]

How much is 1 ILV?

[cunning perch]

for now it's $273. for token related and price discussions please send your DMs in #💰〕token

[brisk surge]

Ok Sir thank you

[cunning perch]

anytime 🙂

[gaunt fox]

!staking

[brisk surge]

hi, is it correct that by staking axs i can have ilv token?

[manic spindle]

Yes, within the flash pool here: https://staking.illuvium.io/staking/flash it has been up a while already though and flash pools only last for 14d. Also, there is this channel for it #axs 🙂

[brisk surge]

Thanks

[fervent orbit]

is this staking?

[manic spindle]

In order to get an idea about the tokenomics and staking for ILV I highly suggest to read those sources:

https://docs.illuvium.io/
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

[fervent orbit]

I read almost all of it and still don't really understand staking I think I know how to stake butt I also don't know like what ILV and sILV is.

[manic spindle]

ILV = Governance Token used for Voting, Staking and RevDis. sILV = Utility Token, used to pay for ingame fees (no marketplace trades) instead of ETH.

[fervent orbit]

so sILV can not be used out of the game so you can't make money of sILV

[winged heath]

could someone explain what the point of flexible staking is?

as far as i'm aware theres no reward multipliers for it opposed to if u locked in for a certain duration

[manic spindle]

Someone might set up a pool for sILV somewhere, but in general from ILV side, no. It's meant for ingame usage.

[cyan rampart]

If you're not locked in, you're free to sell your ILV whenever you want. If you're locked in, you get a multiplier, but you aren't liquid - you can't sell locked ILV until your locked period is over.

[manic spindle]

Correct. You stake without locking = 1.0 weight per token. You stake with locking = Cannot withdraw until lock is over BUT you get a multiplier on your token weight for it

[cyan rampart]

But like, let's say some anonymous whale came along and ILV shot up to $1100 USD - if you're locked, you can't react to spikes in the market, but in return you get a multiplier for your rewards.

[fervent orbit]

and if you locked for 12month there is a 2.0 multiplayer right?

[broken wedge]

staking isn't so profitable really

like 8% a month

in crypto that's nothing

[fervent orbit]

so what do you suggest then

[cyan rampart]

When you combine it with increased value of the token, it beats just sitting on tokens IMO. Obviously what you do with your ILV is 100% up to you though.

[broken wedge]

investing in something else

[cyan rampart]

If you were explicitly planning on holding ILV for 12 months though, I see no reason to not stake.

[winged heath]

@manic spindle so what rewards do u get for doing flexible staking if theres no multiplier?

[fervent orbit]

would investing in just ETH and ILV and don't stake be profitable?

[broken wedge]

who knows man

[manic spindle]

The same rewards as you get when staking locked, just less. Rewards pile up, you choose either ILV or sILV when claiming. Here is more information about these topics:

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

[fervent orbit]

I don't think it's a good idea for me te invest, I don't have enough knoledge

[cunning perch]

If you plan on selling and take profit that is the way, because if you lock your tokens, then they will be locked and you won't be able to touch them, unless you plan on receiving sILV and use it in game

[fresh pelican]

are the rewards u get just the tokens that are generated when u stake?

[cunning perch]

The rewards will be in form of ILV and/or sILV.

[fresh pelican]

ILV tokens or sILV?

how often do u get the tokens though. like how does it work

[cunning perch]

yes all are tokens. ILV will stay locked for one year after claiming, while sILV will be released to be used in game immediately.

[cunning perch]

per block. like every 15 seconds or so

[fresh pelican]

what percentage is it the amount you stake?

[cunning perch]

you can stake all the ILV you have or half of it even 1. depends on you and your decision

[short gorge]

when is the game estimated to launch?

[cunning perch]

#💬〕general message

[short gorge]

thank you

[fervent orbit]

is there any reason to use sILV in game to make a profit or is it just for items in game

[cunning perch]

you can use sILV to travel or cure shards and other in-game stuff. Whatever you gain and want to sell in the market, you sell it for ETH. sILV is used to help those who don't have enough ETH to use in the game. It also stops ILV from ever being mint which means it'll reduce the total number of ILV and will therefore pump the price. Be advised that sILV does not generate Revenue

[fervent orbit]

so ILV works the same way as ETH right you buy at a low price and sell at a higher price?

[cunning perch]

ILV, ETH and any other coin work the same if you don't use them. You can simply buy and HODL and then sell them when the price is high enough for you. If you want to use the utility, then you'll have to stake, which will have its own procedure. You are the one who has to decide what's best for him.

[fervent orbit]

thanks allot for the replies man

[cunning perch]

Anytime. Always happy to help 🙂

[fervent orbit]

so what do you think is a good price for ETH

right now it's going down

[fresh pelican]

what happens during vesting period? do the coins just sit there until the 12 month period is over and u collect them?

[cunning perch]

going up/down is just hype due to the hard fork going on. If it is successful, then It'll be bullish long-term for ETH. But for any price discussion, please try #💰〕token

[manic spindle]

Claimed ILV rewards that are locked for 12 months get staked in the ILV pool wiht a weight of 2.0 for compounding.

[cunning perch]

what Stormi said 👆

[winged heath]

what do you mean by compounding by a weight of 2.0?

[floral oar]

2.0 worth more of ILV?

[manic spindle]

1.0 token weight = each staked ILV counts as 1 for reward calculation. 2.0 token weight = each staked ILV counts as 2 for reward calculation. Important reads for anyone still riddled with tokenomics/staking questions 🙂 :

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

[ruby musk]

Hi! just got in. Im wondering if you guys have a materials where I can read the staking guide? planning to invest on this game, thanks in advance

[manic spindle]

Look one message above yours 🙂 Also, please don't ask the same stuff in multiple channels.

[ruby musk]

yup thanks, actually saved it. Is that all? Noted

[manic spindle]

Check #791148036935516161 for more info about important sources etc 🙂

[ruby musk]

thanks man, appreciate it

[hearty plank]

you only get silv on staking? is silv are not minenable on the game when its open?

[potent flare]

you choose what you receive on staking, etiher sILV or ILV

[cunning perch]

No you choose everytime you want to claim. You either choose sILV or ILV. sILV will be released immediately to be used in game but ILV stays locked for one year. sILV has no use case right now since no game or market is operational yet

[hearty plank]

what i means is, we can only get silv on staking?. not the same as shards that we can mine on the game.

[teal prism]

gas fee for staking is so much

[fresh pelican]

what is the value for ILV/ETH

[cunning perch]

No. As I said, when you stake, you will receive rewards. these rewards are in form of ILV and/or sILV that you choose to receive. sILV is used in game for certain stuff purchases, while ILV will be locked. You have to choose which best suits you.

[manic spindle]

APY for core pools can be found here: https://staking.illuvium.io/staking/core

[whole elk]

Wow that is very nice!

[winged heath]

is this how i can get ILV/ETH tokens ^?

[manic spindle]

For LP:

• 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

[cunning perch]

yes. you have to add ILV and ETH (equal in $) and it will be subject to IL and you pay more gas. see above 👆

[hearty plank]

i see, thanks, you are referring about staking rewards, sorry for miss understanding. im thinking about on future ingame use of silv, if we connot farm silv inside the gam. just like the shard that are farmable ingame and silv needed for curing shard. staking and claiming silv as reward are posible prifitable in near future. sorry i meesedup xd

[cunning perch]

well when you use sILV in game it is burned. Whatever you want to sell, you will sell it in the Market Place the currency of which will **only **be ETH. So you might use sILV for traveling or curing shards and stuff, but it'll be ETH you earn in the market place. No need to apologize my friend. We're here to help with any questions you have. 🙂

[hearty plank]

hahaha xD just thinking about curing shard to capture illuvials

[cunning perch]

Well, u can do that with either ETH and/or sILV. sILV is burned (probably pumps the price of ILV) but ETH generates Revenue and will be paid back to you. 🙂

[mystic temple]

hi all just want to ask how do you guys buy ILV. do you buy USDT first then swap for ILV?

[cunning perch]

!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

[cunning perch]

you can swap any coins (available on sushi) together, whether USDT /ILV or ETH/ILV or others

[uneven garden]

if your main idea is to stake ilv to then use it when the game launch the best option is to do a fixed stake since you can retrieve sILV at any given time right?

[cunning perch]

you can stake ILV in any pools available on the website and claim your reward in either sILV or ILV. Every time you want to claim, you choose which you want it to be in form of.

[split bramble]

Curious on people opinions. If you stake 10 ILV for 1 year… what do you think realistic best case is?

[cunning perch]

best case for what exactly? price, token number (rewards), Revenue Share....

[split bramble]

Rewards

[vague thistle]

When I buy ILV, I do it by swapping ETH for ILV in MM and then I stake to ILV pool. Is there a better way to do this by buying ILV directly on Sushi?

[cunning perch]

lots of variable. Depends in the pool and since you're asking now means you haven't staked yet which means in July 2022 or before that lots of tokens will be unlocked (and might leave the pools) and lots of new tokens will be staked again. So there is no way of saying.

[cunning perch]

I don't think so. You already do what I do

[split bramble]

K. I staked about a month ago

[cunning perch]

enjoy the rewards. 🙂 there is no way to say exactly how many ILV you'll have in a year. But you will have ILV and that's pure gain and will receive revenue for it which is a double gain

[vague thistle]

Oh, because motzart doesn't mention MM, so wasn't sure if Sushj was better for some reason

[cunning perch]

Sushi is where the majority of the liquidity is and swapping ETH with ILV means you won't pay the extra gas for the approval. This is the easiest and most secure way imo

[vague thistle]

Another one...when I stake ILV for 1 year. Let's say in 3 months I claim ILV, do I have access to it immediately, or do I also wait a year on that to withdraw?

[cunning perch]

the moment you claim ILV, it will add to your tokens and generates rewards, but will stay locked for one year from the moment of claiming.

[vague thistle]

Ok that's what I thought, thanks

[cunning perch]

no worries 🙂

[split bramble]

I jumped in not fully comprehending the process… I just knew the game would take off and the price seemed super cheap compared to the possibilities…

…when you say I’ll have more ILV… you get more in the future because you staked?

[vague thistle]

Any reason not to claim ILV and just let it all sit there?

[split bramble]

I’m new at the “staking” stuff… made my head spin a bit

[cunning perch]

you get YF rewards in form of ILV and/or sILV AND you will get Revenue from the game Revenue (ETH spent in game)

[manic spindle]

Only starts compounding and it's 12 months locking period when claimed.

[split bramble]

Seems like an absolute no brainer

[cunning perch]

it'll sit there idle. It will not add to your tokens and will not generate rewards and you won't have access to them until you claim and it vests for one year

[cunning perch]

well....you got it 😄

[vague thistle]

So claim as often as it makes sense compared to gas prices?

[cunning perch]

yep

[vague thistle]

And don't claim the dip

[cunning perch]

claiming the rewards has nothing to do with the token price. you can claim as long as you have enough ILV that would be worth the gas

[delicate crane]

When do you know its ok to take your rewards compared to the gas price ? I am quite new to the crypto space and I am starting to learn

[cunning perch]

It's a personal decision. You have to see how many rewards you have and if it's worth paying the gas to claim. You have to claim whenever you are comfortable. Some do every single day and don't care for the gas since they're rich, and some do once every day/week or longer

[delicate crane]

Ok thank you

[full lagoon]

Locked rewards are eligible for revdis?

[cunning perch]

Yes. Claimed rewards will be. If you don't claim them, they are not eligible for anything.

[vague thistle]

If you want sILV for in game, you claim, or you buy ETH and spend that in game. Either way there is gas, so might as well claim than buy more ETH.

[cunning perch]

anything you spend in game will be gas-free. But claiming or swapping or staking require gas

[vague thistle]

Yeah, either way there is gas

[cunning perch]

sILV is for the people who don't have enough ETH to use in game. ETH generates Revenue and you will be paid back your share (only staked ILV). you have to decide which really suits your needs

[minor hazel]

Idk might be a stupid question please bare with me im still learning but i just wanted to ask if there as a way to estimate how much my gas fees would be for something like providing liquidity of 1 ilv and its worth of eth into the sushi pool and staking my slp

[cunning perch]

gas is really not predictable. It varies every second. Staking in the single pool or SLP is solely dependent on your decision and no one can really help you with that. You are the one who knows what's best for him/her

[vague thistle]

Why does meta mask only let you buy $500 worth of ETH at a time?

[cunning perch]

you mean buying ETH using the third party (through MM)?

[vague thistle]

When you go to draw from a bank account, it only let's you draw $500. I have never bought on MM, I just use it to swap for ILV. I buy ETH on coinbase

[cunning perch]

you can swap hundreds of ETH and you can also buy hundreds of ETH really. I have never seen any issues like the one you're facing

[cunning perch]

There might be a limit with your bank account

[vague thistle]

Haven't even hook it up yet...

[cunning perch]

probably a third party limit. Sushi itself has no limits as far as I know. MM works with a third party to sell ETH

[minor hazel]

another maybe stupid question but are gas fees relative to how much im staking or taking out or are they just relative to the gas prices at the point i do the transaction

[final steppe]

It depends on the time you process the transaction and where the GWEI is at during that time 🙂
The amount being staked or claim can be any amount

[potent flare]

onyl relative to the gas price at that point u do trasnaction

[slender ocean]

Is the forkening done?

[minor hazel]

btw when the axs flash pool staking period is over will my axs go back to my wallet instantly or do i need to pay more gas fees to claim my rewards first and then i can take them back?

[rocky fox]

claiming rn costs 100 usd, so it should be done, another update worsening their goddamn system

stupid eth, they had one job.... 🤦‍♂️ make things better or at least don't make them worse, fucking apes

[slender ocean]

Haha... This is bad? Or just congestion?

[rocky fox]

not sure yet but surely another failure, neither are gas fees now "predictable", neither there's a "base fee" so people don't outbid, it's literally all the way WORSE

too bad gas fees are too high to even get rid of their shitcoin

[manic spindle]

You will have to withdraw them manually

[silk meteor]

Hey Stormi you and some other mods been so dependable and helpful. Thanks 🙏🏻

[rancid plover]

What is the minimum amount of ILV I need to stake?

[manic spindle]

Much appreciated, thank you 🙂

[manic spindle]

No minimum amount. You can stake as little as you want but consider the gas fees when doing so 🙂

[rancid plover]

@manic spindle ok, thank you.

[silk meteor]

Now, can you guys do something about this high gas fees?? 😂

[manic spindle]

I'd love to. But that's on ETH and ETH alone 🙂

[silk meteor]

Oh I know..miss the days a few weeks ago when it was hovering around 10 gwei but I’ll take higher ETH prices if that’s what’s contributing

[fickle token]

如何挖矿 How’s That

用ilv参与挖矿 Use the ILV

[fierce chasm]

with that high gas fees, would it be possible, that you develop a method for auto withdrawing rewards to compound in single asset staking pool? "Just" need a button so the staker/farmer can choose if he ants that or not. I dont want to spend 30$ of gas to compound 100$ that I earned during the week.

[gloomy gazelle]

Yeah don’t pay that much for sure

Slow Gwei was in the single digits less than 5 hours ago.

Also. Don’t compound that little.

Wait for more to accrue.

[sharp sandal]

are there any tutorial videos on staing ILV?

[gloomy gazelle]

There have been some made my other community members. Not official stuff. But YouTube has some

[gloomy gazelle]

Not a video but this is the official guide. https://link.medium.com/Ptp9tmaGtib

[sharp sandal]

thanks ill check this out

[gloomy gazelle]

This post discusses how to do the SLP pool #🥩〕staking message

[sharp sandal]

is staking and buying ILV different? im new to this

[gloomy gazelle]

Yeah

!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]

Staking is currently done to earn more tokens

https://staking.illuvium.io/

[magic laurel]

What's the smallest amount you would say is worth staking? Where gas fees don't just eat up your profits

[potent oasis]

How is the staking emissions for eth/ilv ? Will it hold this emissions for a long time ?

I see it is 3 million tokens over 3 years, is it a linear distribution or was it higher in the beginning and tapering down ?

[gloomy gazelle]

3% reduction every 2 weeks

[gloomy gazelle]

$10-50. I don’t know. I say that low because the price still has a lot of room to go up. So actual ending investment will be higher. Just never claim until you have enough ILV rewards for it to be worth it. Or wait until you think it’s time to withdraw and let the withdrawal action make you claim.

[nocturne imp]

where can i see sILV? or do i receive sILV or just iLV?

[prisma juniper]

You'll have to claim your reward as sILV then you'll see the amount on your dashboard

[nocturne imp]

i see. thanks

[urban verge]

will sILV and ILV be the same token?

[full lagoon]

In the SLP pool, say the 1 ILV and 1 ETH is turned into SLP. In the RevDis, will my initial 1 ILV be eligible or only the claimed ILV rewards that I get from the staked SLP?

[gloomy gazelle]

Not initial amounts though right? It’s current SLP token value right?

IL is factored in I’m saying.

[torpid agate]

I should be able to stock more ILVs without getting the rewards. The gas fee are too high... the developers should think about it...

[gloomy gazelle]

They did

#🥩〕staking message

It would create a more complex transaction which leads to even higher gas fees

I mean as long as you aren’t adding new staking amounts every day or week for the next 3 years you should probably be able to get savings on gas fees with the way it’s set up as opposed to what you think you want.

If you had tried staking last night the thing could have probably gone through at 10 Gwei speed no problem.

[torpid agate]

Hum... ok... that is weird... pehaps its an Ethereum problem, but it is weird anyway.

[gloomy gazelle]

I agree. Ethereum transactions cost too much right now. But eventually that should change.

[potent flare]

you should see my vesting page. I changed my mind every 30 min. spent like 200$ on gas alone in about 1 day

[torpid agate]

Hope so... They said it would be cheapper now with the new fork, but...

[gloomy gazelle]

Eww. Just claim in the weekend for under 20 gwei.

[torpid agate]

It seems more expensive now...

[gloomy gazelle]

Hype for today. Wait a week to know real fees

[torpid agate]

Ok... I you try it. Thanks..

*I will..

[gloomy gazelle]

The weekend has the lowest fees

https://etherscan.io/gastracker#historicaldata

[azure jewel]

are gas fee's really suppose to be this ridiculous?

[gloomy gazelle]

Look at the link above. Gwei should not be this high. This is not an Illuvium problem

[final steppe]

Gas fees depend on the amount of traffic on the ETH network (the number of people buying, selling, minting, etc).
Right now there is a lot!
It's usually best to wait until there isn't much traffic on ETH

[azure jewel]

sounds good! I'll wait to claim any rewards from staking then.

[final steppe]

Yeah the GWEI is ridiculously high right now. I try to wait for it to be below 20 at the most and at the moment:

[azure jewel]

Like its a little insane..

[azure jewel]

gotcha thanks for the notice and help!

[rancid plover]

newb question. How do i add ILV, sILV, SLP to my metamask wallet?

[woven ibex]

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

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

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

[polar sentinel]

Eip 1559 not so game changer ?

[drowsy wigeon]

hype train is still running

[rancid plover]

Thank you. So, I only need ILV on my meta mask to stake my SLP token that i get in the sushiswap liquidity?

[manic spindle]

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

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

[rancid plover]

@manic spindle Thank you, I get this pinned message. What I still dont understand is how do I get the SLP from sushiswap to Illuvium staking if I cant put the SLP onto my metamask. I can only get the ILV on my metamask wallet. Thank you for your patience with a newb. Sorry I didnt mean to direct message you.

[manic spindle]

I was just about to reply to your DM 🙂 You should get the Sushi LP tokens when you swap ETH/ILV for them. Did you actually follow these steps fully?

• 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

[rancid plover]

Im trying to learn how to do this before i move money around so that I Lose as little as possible.

[manic spindle]

I cannot teach you it more accurately. These are literally the exact steps you need to do on exactly the pages I linked 🙂

If you have no idea about providing liquidity though, you should really try to understand this first anyway: https://academy.binance.com/en/articles/impermanent-loss-explained

And yeah, wait for lower gas fees 🙂

[rancid plover]

@manic spindle Yes, I am learning alot. I will try with a little (w/lower gas fees) to get the hang of it. Thank you again for your patience and help!

Im also very excited to join the Illuvium team. This looks like a great game.

[manic spindle]

No worries, always someone here trying to help. But As long as gas is 355, considering that you are new to this, read up on "Impermanent Loss" and "Ethereum Gas" first to get some understanding for this.

[manic spindle]

If you are an expert in a relevant field, you can contact Kieran for example and/or check open positions #865961705572794379 . The team only recruits absolute rockstars though. This is not a beginner studio 🙂 Also, in this channel, please only topics relevant for staking, thanks 🙂

[rancid plover]

@manic spindle Yes, Im not new to ether gas, just the sushi swap.

[next dagger]

Is there IL on the ILV only pool or does that only occur in pairing pools?

[manic spindle]

No IL when staking in the Single ILV pool 🙂

[final steppe]

Nope! Just in the two asset pairings 🙂

[rancid plover]

@manic spindle Will do. Thank you again

[next dagger]

Okay that’s what I though thank you.

[silk meteor]

A question if anybody can, will gas price be higher with bigger reward claim? Tia

[ruby wing]

No

tx fee is based on gwei

not on size of tx

[kind loom]

I think you have the gas price but there is also the gas limit to take into account and the bigger the reward, the higher the gas limit. I think I saw @exotic igloo say that to someone.

[kind loom]

I think I just misread the question, gas price will not change. Sorry 🙂

[vague thistle]

I'm trying to stake ILV pool via MetaMask, but when I do it through illuvium.io it just opens up the MM app and does nothing. Anyone else seen that issue?

[copper tundra]

If i get this right, you stake with ILV and pay the gas fee with ETH?

[thin patrol]

yes correct

[copper tundra]

Where does one buy ILV 😚

?

[manic spindle]

!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

[copper tundra]

Only if you are in Us you use sushiswap?

[final steppe]

No, you can use it outside of US too 🙂

[copper tundra]

And you buy ILV through metamask? aka "swap"

[final steppe]

You can swap through Metamask or go to Sushiswap directly as well

[dawn musk]

Hi guys! At this current rate of $290 per ILV, how much should I invest in staking on the ILV pool in order for me to be able to claim 1 ILV per day?

[copper tundra]

Is there a turtorial for this so that i do not get screwd royally?

[manic spindle]

This is impossible to estimate because no one can predict the APY over time for any pool. Also, the single ILV pool will continue to go down for sure in APY.

[shrewd mesa]

How does the fees for SLP get redistributed? Does it come into my metamask wallet?

[gloomy gazelle]

it is priced into your SLP token price

so when you withdraw your liquidity you will be getting your fees back

[shrewd mesa]

Aaah ok

[gloomy gazelle]

but it also helps your total value staked in the Illuvium protocol

[shrewd mesa]

And how do I recognise if there’s any IL that has occurred?

[potent flare]

so.. after a year when i withdraw my liquidity, that can be a potential huge sum of moneh?

[gloomy gazelle]

I pinned an analytics tool check it out

[gloomy gazelle]

no i think its priced in to your token value already

the fees get added to the pool so your SLP tokens already have the fees included in its value calculation

[mystic temple]

Man I can't even stake my ilv due to gas fees

[worthy peak]

Around 350 ILV, in current conditions, but all changes, as Stormi said. This is ILV pool, not LP

[gloomy gazelle]

I admit this is my first time YF so I may be wrong but I've talked to a few folks that should know and read up on sushi's info and this seems correct

[final steppe]

https://app.apy.vision/
Pretty cool app to show IL. I haven't checked out other tools though... so there's probably some better 🙂

[shrewd mesa]

Thanks @gloomy gazelle

[gloomy gazelle]

https://analytics.sushi.com/pairs/0x6a091a3406E0073C3CD6340122143009aDac0EDa this is what I use

[vague thistle]

Jax, help me with my stake man

@thin patrol

[thin patrol]

Whats up?

[gloomy gazelle]

i don't recommend staking at this moment... wait till gas goes down... get the help you need now so you'll be ready when the time comes

[vague thistle]

Stupid Meta Mask is broken

[thin patrol]

What in your staking do you need help with

[vague thistle]

Can't claim, can't stake

[thin patrol]

does it say anything when you try?

[gloomy gazelle]

do you have any transactions pending? check etherscan

[vague thistle]

Illuvium.io just opens MM and nothing happens.

Let me check

[cunning perch]

staking.illuvium.io?

[vague thistle]

All clear

[gloomy gazelle]

ah restart the browser... and try clearing the cache

[vague thistle]

On mobile. I'll try doing that on my PC later tonight then and report back

Stupid MM

[mystic temple]

Hi pelican. I'm way too noob at gas fees. But I rushed in before to stake SLP just to get my rewards going. Just want to ask how much is acceptable gas fees rate? I almost staked with 80 gas fees but I read your comments

And I know it's based on what I can afford but just wanna have a benchmark

[gloomy gazelle]

mmm I look for below 20 gwei hope for 12 or under but have used as high as 25gwei for staking transactions

[mystic temple]

Dear lord. It's 100 gwei right now

[gloomy gazelle]

yeah its nuts

[mystic temple]

Thanks mate I almost staked just now

[vague thistle]

So annoyed right now. Oh well, at least I have more ILV :)

[gritty sparrow]

got charged for 51 Gwei when I staked

Is staking for 12 months a good idea?

[cunning perch]

you stake 12 months, you get 2X weight. That's what most people here have done. Don't forget to claim rewards occasionally and be mindful of the gas while doing so

[gritty sparrow]

oh yeah the gas burns, when will it go down any idea?

[cunning perch]

it has been high for more than 2 weeks now, might continue to be so. I would exorcise patience when it comes to staking rewards. Only do so when your comfortable and you have enough rewards that would justify paying the gas.

[gritty sparrow]

thank you will keep that in mind, very hopeful about this game

[jagged spindle]

What if you never claim rewards?

[cunning perch]

Then they will all sit there idle playing with their balls and be good for nothing 😄 if you want them, you have to claim cuz they need to be minted for one year AFTER you press claim

[surreal lily]

regarding staking, what if I put my current ILV on a locked stake, can I still add ILV to that same stake when I buy more the following month?

[exotic igloo]

Seperate stake

But the rewards are pooling together

[surreal lily]

So I have to stake again every time I buy ILV. Does it charge gas fee when you stake?

[cunning perch]

yes, every contract/transaction needs gas

[sinful hatch]

When you want to add more, it makes you claim the accrued rewards and restakes the new amount. This means an extra transaction/Gas so choose wisely when you do it

[jagged spindle]

If ETH goes proof of stake will the gas fees disappear ?

[surreal lily]

ty

[cunning perch]

Only ETH 2.0 can answer that. Depends if they actually fix its scaling issue which I believe they will. But for now, whatever gas you pay for staking, you'll be paid back through RevDis and more.

[cunning perch]

anytime bro

[jagged spindle]

Thanks. I mean I was going to wait till I made 1 ILV, since I have very little in SLP.

Also gas is like half my profit to transfer rn

[cunning perch]

No problem. Try claiming whenever the gas ins justifiable. But be advised that claiming SLP requires more gas since the APY is higher

[cunning perch]

patience will be rewarded 🙂

[jagged spindle]

Is there any way to get an estimate on how much ILV I could get from .6 SLP? Also for some reason part of my SLP is weighted at 1 is that a big difference or should I withdraw and then make it locked. I charged me like 6 times to stake it and then never locked it.

The first question is in regards to the 12 month locked .3 SLP

[cunning perch]

Well it's difficult to know how much you will end up with after 12 months as there are lots of variables like people entering/exiting the pool, IL, Price change, and whether you would like to stake the Rev you receive. No one can really guess. But since most are here for the Rev and would like to receive the passive income (like forever), they would like to hold as many ILV (the number of token) as possible as you get Rev based on the number you hold not the monetary value of ILV. So, for now, YF is gain, but when Rev starts flowing in, YF rewards will be a spec and just a little bonus compared to the share you get out of that rev. That's why everyone has a plan (or at least should have one) and knows what's best for them.

[azure jewel]

What happens once you reached the time frame of the locked funds in staking, does it automatically go back to your wallet or does the locked funds that are now unlocked can stay and still accumulate from staking rewards if never withdrawn manually

[jagged spindle]

thank you for explaining!

[cunning perch]

No. It'll be unlocked and you can decide to leave them there or withdraw. If you leave them there, they will generate more rewards and will receive Rev. If you withdraw, then you will not only lose your 2X weight, but you will give up the right to receive Rev. Besides that, you need to pay gas for the withdrawal.

[cunning perch]

anytime brother. happy to help

[azure jewel]

Ah I gotcha, thank you for the help!

[honest wraith]

Which pool would get you the most coins that you can keep compounding into itself?

[cunning perch]

No worries 🙂

[cunning perch]

No pool will self-compound. When you stake in either pool, you will have to claim your rewards occasionally as they all need to be minted and the minting process is one year (literally it means the rewards will be locked for one year). unless you decide to claim sILV and use it in game. ofc the SLP will give you more rewards, but runs the risk of IL as well.

[honest wraith]

Ok, that makes more sense. Thank you

[cunning perch]

anytime 🙂

[honest wraith]

When you stake into the SLP do you have to stake both ETH and ILV?

[cunning perch]

yep. both ETH and ILV need to be equal in the monetary value. Like $10 ETH + $10 ILV at the same time. Be advised that you have to pay more gas for SLP.

[honest wraith]

When you choose to stake into it do you have to have both types of coins or can you just input with ETH and use the money from your wallet to put in equal parts?

[cunning perch]

whan you click on Liquidity section of Sushi, you will see that you have to add both ETH and ILV at the same time, so you need to have both equal in $

[honest wraith]

Just for super clarification I will need to purchase my ILV first and then stake it?

[cunning perch]

yes. you have to decide which pool you want to invest in and whether or not you decide to lock it and if so, how long you are comfortable with. Make sure you accept the risk of IL (Impermanent Loss) if you wish to enter SLP and let no one tell you what to do as the decision needs to be made by you. You can always find precious info in #🔗〕helpful-links regarding staking

[honest wraith]

Awesome, thank you so much for your amazing help. One last question, when I collect the rewards from the pool and choose to re-stake it will that go into my same original pooling or will it be creating a new one? For example if I choose to collect the rewards as ILV and want to restate it into my SLP I will also still need to add the matching amount of ETH as well correct?

[cunning perch]

Oh I would gladly help you with any questions you have (and I know the answers to ofc =D) You don;t need to restake. By simply claiming, your rewards will move to the Single Asset Pool (ILV-only Pool) and compound to your original stake.

[brisk surge]

The ILV rewards you claim are locked in a staking contract for 1 year

[honest wraith]

Awesome, thanks man, you’re the best

[cunning perch]

glad I could help 🙂

[wooden jacinth]

Ey is this gas price normal or am I glitching n ting?

Was paying 5 buckeroos for a reward now 60 buckerkangeroos like maynnn wat to do

[cunning perch]

it's been like that for over 2 weeks now

[wooden jacinth]

Wow, that means illuvium is a scam. Nah only kidding, it's doing bits, just annoyed now I can't redeem for peanuts lol 🤣

[slow anchor]

I connected my meta mask wallet and when I go to the stake my ILV it says my balance is 0

[cunning perch]

well have to wait for it to go down. If it was down we would have seen +$300 a while ago

[cunning perch]

do you have ILV in your MM?

[slow anchor]

yes

[cunning perch]

do you connect the MM directly to the website? might be connecting the wrong MM address.

[tame coral]

Can someone please explain why the staking rewards for the liquidity pool have been going up the last few weeks despite the amount staked in the pool also going up?

[slow anchor]

I double checked its the right address

[cunning perch]

Probably it's duo to ETH and ILV price action.

[cunning perch]

try closing the website and resetting you wallet if it didn't work out if everything is done correctly. If you hold ILV and enough ETH to pay for gas and you can connect your wallet correctly, then **might **need a reset. Also try connecting your wallet to sushi and see if it shows your ILV there.

[gloomy gazelle]

yup the rewards are in ILV only... so as ILV price goes up and the amount of ILV in sushiswap pool goes down as more people buy and remove it from the pool (referring to the swap pool not the staking pool) then those rewards are more valueable when compared with the initial cost to get an SLP token

[wooden jacinth]

I was rewarding for like 10 bucks a week ago 😂

[cunning perch]

Not today u won't 😁

[tame coral]

Awesome thanks mate! 👌🏻

[wooden jacinth]

Loool

[wooden jacinth]

Usually higher gas means a crash but markets going up. I'm all in ilv so Im happy

[willow crest]

does anyone know if you transfer your ILV to another wallet will the vested ILV and sILV rewards also transfer along with it?

[potent flare]

no, you have to claim your rewards first

[willow crest]

so once i claim them im able to transfer the vested ILV and sILV into another wallet?

[potent flare]

if u claim them, then yea, i dont see why not

[glass carbon]

not while it's still locked I don't think

[potent flare]

oh wait, claimed reward get locked

[willow crest]

then what about sILV are u able to transfer it to another wallet?

[glass carbon]

yeah think so

[willow crest]

you reckon itll be its own token in meta mask?

[glass carbon]

token contract is in the pins, I don't see why you wouldn't be able to but not positive

[willow crest]

right fair enough. thx guys

[glass carbon]

cheers!

[cosmic trellis]

Hey guys is it better to stake on ILV or SUSHI LP? New to this stuff

[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

[glossy dirge]

Thanks man!

[gloomy gazelle]

currently the APY is still looking pretty good in ILV only pool 100% return for 1 year... but this will go down significantly during the year. but you will end up with more ILV than you have that much is certain

the APY in the suship LP pool is super high right now because the ILV rewards are really valuable compared to the ETH/ILV SLP token

[gloomy gazelle]

Read through the pins in here and it will probably help you make a decision

[cosmic trellis]

Thank you

[gloomy gazelle]

impermanent loss is a significant risk when providing liquidity (Sushi Liquidity Provider is what SLP represents

@sly spoke good pins regarding staking in here

[stray steeple]

so rn i've got .5 ILV should i stake it rn and then keep the other 2.5 ILV i plan to purchase soon unstaked?

[gloomy gazelle]

mmm staking can be locked for a time or fully flexible so no reason to not stake if you ask me

but i'd wait to put it all in a single transaction

save on gas that way

[stray steeple]

Rn I'm going to have maybe a little over 3ish ILV and idk how much i should keep free for when the game is playable

[thin patrol]

ILV is not a token that will be used in game - So no reason not to stake it

[gloomy gazelle]

none stake it all and earn so you can get rewards in sILV which are usable in game

[uneven sparrow]

If I want to add more ILV in the pool for another 52 weeks. It says tgat I need to claim my existing rewards first. If I claim my ILV rewards. will my initial stake still be there? Will I only be able to get the rewards and not the ILV i staked?

[gloomy gazelle]

your initial stake stays

i've claimed several times and the initial investment is not at all affected

[cosmic trellis]

But you can restake the rewards you get right?

[stray steeple]

oh sorry

[uneven sparrow]

so itll just add up huh

[gloomy gazelle]

it is done automatically when you claim them

[uneven sparrow]

Thanks for the information. Gas fees are jsut too high rn.

[thin patrol]

Yeah wait a bit till the Eip-1559 hype has calmed down

[gloomy gazelle]

so here's what happens... you have your initial deposits and then you have your rewards that you've claimed... they are locked for 12 months and are VESTING

[magic laurel]

so SILV is higher APY but is only for in game stuff right

[gloomy gazelle]

sILV is not SLP its different

[brisk surge]

sILV is used for in game purchases, I think you're referring to the SLP liquidity pool which is different from sILV

[gloomy gazelle]

sILV is ILV but to be used and burnt in game

[magic laurel]

ah my bad i got them confused

[gloomy gazelle]

SLP is sushi liquidity provider token (ETH/ILV)

oh that happens a lot no worries

[thin patrol]

I would really recommend to read the https://illuvium.io/faq it also gives a good clarifation if what sILV and ILV is

[stray steeple]

what sort of gas level would y'all recommend waiting for?

[magic laurel]

well recently 30 is about as low as it went so if u MUST then 30 but ideally like 10-20 ish or lower

[stray steeple]

ty ❤️

[ruby sapphire]

Regarding CLAIM, is it possible to consider allowing users to freely choose the value of CLAIM; and I am so distressed that I want to keep part of the planting income and another part of the sILV; but my choice can only be a composite of all ILV or sILV.

[exotic igloo]

Impossible

Everytime you claim you can pick either ILV or sILV

But you cant choose how much token. It claims them all

[gloomy gazelle]

you only claim the rewards currently accrued so you can claim ILV once... and then a few weeks later or whatever decide to claim sILV or ILV its up to you. Your initial deposit into staking is not affected by what you claim or how its claimed or when its claimed... it's not affected at all

[umbral kite]

IF i stake 10 ilv and get 1 ilv reward

when i claim after staking i get 10ilv right away and then wait 12 months for the 1ilv reward to vest?

[gloomy gazelle]

ah... when you claim your initial investment stays and keeps earning rewards... you'd need to withdraw it if you wanted to withdraw it

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

[gloomy gazelle]

the amount of ILV you stake in the ILV only pool will always be your ILV. You just need to withdraw it. (if you lock it then you'd need to wait til after its unlocked to be able to withdraw it)

[stray steeple]

and you get more rewards for it being locked correct?

[umbral kite]

Cool so im not submitting any capital for vesting, only the acrued rewards, thank you alot!

[gloomy gazelle]

correct

[tight jay]

Do ILV rewards only enter the 12 month vesting periods after you claim it?

Or does it enter the vesting period immediately after being rewarded?

Ok, thanks. In that case, how often are people claiming their rewards generally?

[gloomy gazelle]

4 ilv maybe... to keep gas costs lower

there is a calculator pinned in here that someone made... its interesting

[tight jay]

Yeah, gas was my main concern. Well, I've only locked my tokens for 3 months, so I'll probably just wait out the whole duration and claim at the end.

[gloomy gazelle]

basically you want the amount of ILV you claim to be able to earn enough rewards to be worth more than the cost of doing the next claiming transaction before you do the next claiming transaction

imagine I claim 4 ILV... those 4 ILV are gonna earn me enough ILV to (eventually) offset the $10ish cost to vest them. anything less I should just wait to claim till I have more

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

[tight jay]

Ohh, that makes sense. And to clarify, you're saying staking more or withdrawing automatically claims any pending rewards?

[gloomy gazelle]

correct

well it will force to do a claiming transaction...

[tight jay]

Gotcha, thanks for your help!

[gloomy gazelle]

there's a lot of good info pinned about staking in here

[grave summit]

All rewards are subject to 12mths lock period? rewards from staking and from providing liquidity

[ruby sapphire]

Ok! But I think this optional value is available; because when a user accumulates too much income, he can choose the ratio by himself; reinvest ILV or CLAIMsILV.

[gloomy gazelle]

it'd double the transaction fees so lets not do that

[gloomy gazelle]

all rewards when claimed as ILV are locked for 12 months yes. When rewards claimed as sILV the sILV is sent directly to your wallet. Fully unlocked. but sILV is not stakable and it doesn't have a market to sell it at the moment because it is for use in the game

[grave summit]

Thanks a lot

[swift fog]

Anyone else lock for the full 12 months?

[ruby sapphire]

ok

[vague thistle]

hey @thin patrol

[tender lynx]

yep

[thin patrol]

hey whats up?

[vague thistle]

MM on my laptop worked for staking. Mobile app is busted shrug

[thin patrol]

Nice good to hear with the staking working - The app is hmm weird

[vague thistle]

I actually tried on 2 different galaxy phones lol

[thin patrol]

hmm

[stray steeple]

@swift fog did you lock in all your ILV?

[swift fog]

i'm not sure if i'll buy more going forward but yea...bought what I wanted to lock for the long run

[stray steeple]

I'm trying to decide if that's what i should do lol

[swift fog]

Yeah its hard, everyone is in a different position with investing.

[stray steeple]

true

[tight oyster]

299.99$ ^^

So, iuse sushisapp to put ETH+ILV in pool, transaction was accomplished, and nothing changed in my METAMASK, still have my ILV and ETH , is it normal?

oH nevermind, it just confirmed the verification .. not the transaction

[glossy dirge]

!yf

[woven ibex]

🚫 kCaitor, you can't use that.

[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

[tight oyster]

So i just put ETH+ILV in the pool on sushi, now where is the LP token? Nothing on my METAMASK

[gloomy gazelle]

It’s probably there. Add the SLP token address pinned in here as a custom token

Or just go the the Illuvium staking dapp and it’ll show up on the UI

https://staking.illuvium.io/

[tight oyster]

ok Nice ty pelican 😉

[winged heath]

is it better to stake in the ILV pool or the ILV/ETH pool?

[gloomy gazelle]

ILV pool is easier and transactions are lower. But the SLP pool APY is higher right now. But there’s impermanent loss to consider.

There’s some useful info in the pins like this… but it’s your decision… 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

[abstract comet]

@exotic igloo Is the gas cost to claim proportional to reward value? That doesn't seem to make sense from a computational point of view in the smart contract. For example, sending ETH costs 21,000 gas units regardless of amount.

[vague thistle]

so yield farming tappers off year over year with the first year being 1.8M tokens. What is the purpose of the gradation?

[gloomy gazelle]

To reward early investors

Like yourself

[vague thistle]

how do we benefit from that?

[vague thistle]

how would it be different if it was distributed 1M per year?

[gloomy gazelle]

The apy is higher during the early time period when less people are token holders.

So you get higher return to be a holder before the game is out. Greater reward for the greater risk

In a year the game will be out and proven. So it will be less of a risk to say man this game will be good… it will already be out

[vague thistle]

does this also mean that 1.8M tokens are minted/released on March22 2022?

[gloomy gazelle]

no

The tokens you are talking about will only start to unlock 12 months after they were claimed/vested

[vague thistle]

I don't understand the graph 😦

[analog hamlet]

when did the staking contract start?

[gloomy gazelle]

The graph shows how many ILV are distributed as rewards every 2 week period

[dapper raft]

How do we get sILV tokens in staking?

[gloomy gazelle]

June 30 I think it was

[gloomy gazelle]

ILV or SLP can be staked.

[vague thistle]

does the APY go down overtime which is why early investors are rewarded more?

[gloomy gazelle]

Correct

[analog hamlet]

ok we still early for this staking stuff

[gloomy gazelle]

Yeah

[glass carbon]

peli working overtime in here lol

[gloomy gazelle]

We are just in the 3rd bar in the image above I think.

[dapper raft]

Are rewards different? sILV can only be rewarded thru SLP?

[glass carbon]

You need to choose sILV as your rewards instead of just ILV

[glass carbon]

It can be either

[dapper raft]

Ohh thanks!

[exotic igloo]

The more you claim the more gas it cost because this is a minting contract

[abstract comet]

thanks. I need to read up on minting contracts to understand why minting cost is proportional to tokens minted. Obviously there's some complexity there I'm unaware of.

[exotic igloo]

You can easily compare by looking at the contract interactions

Look up Luggis.eth and check how much his gas limit his compared to yours

It normally cost him around 180$ at 25 GWEI or close to that

[crisp arrow]

What happens if I were to claim my slv rewards, would I be able to restate them right away? Or do they have to go through the vesting period? What’s the best way to restake if I wanna pay the least gas

[exotic igloo]

sILV are not stakable

They go to your wallet

[crisp arrow]

Oh sorry I meant ilv

[exotic igloo]

So if you plan on only claiming sILV, wait until game comes out and claim them

Claiming ILV lock them in the ILV pool for you

All in one transaction

For 12 months

[dim wagon]

I'm wondering what's gonna be the better bet is to claim ILV and stake it or to take the sILV and play the game and get a bunch of the early nfts and wait

But that can only be answered after the fact lol

[exotic igloo]

Best is to compound ILV until the game comes out

Then if you want to use sILV you can start claiming those

[dim wagon]

Yeah that's smart

[abstract comet]

sILV is just a convenience mechanism for people who don't have extra ETH lying around correct? Anything sILV can do, ETH can also do?

[full sedge]

good thing about sILV though is you can use it straight away when the game launches

[dapper raft]

Just staked today, can't wait for the game to be out!

[abstract comet]

I read that but it's not clear if there are things only sILV can buy. From what I understand, ETH is also a currency used in game.

and vice versa...?

ah ok

[gloomy gazelle]

@full sedge this is the one I use

[coral tapir]

thanks for the IL tool from sushi, pretty useful

[full sedge]

oh nice, ill check it out now

[coral tapir]

it's easy to find on sushiswap's analytics page if you aren't comfortable clicking links lol

[full sedge]

I'm comfortable

[coral tapir]

i'm not, but maybe i'm just too paranoid

[full sedge]

It's better to be paranoid sometimes

[gloomy gazelle]

We mods do our best to check those in here.

Especially if they are pinned

[coral tapir]

we appreciate that!

[gloomy gazelle]

https://tenor.com/view/at-your-service-up-ellie-mr-fredrickson-gif-12788030

[dim wagon]

Would it be good to split between the slp and ilv pools or just pick one or the other?

[analog hamlet]

Let’s say you have 5 Eth would ilv or ilv/Eth staking be better?

[full sedge]

depends how much risk you'd like

[daring gale]

On that note is nowa good time to claim the stake?

[coral tapir]

i've been claiming when i have 2 or more tokens to claim and gas is low

[daring gale]

Man I ain't gona be earning whole tokens with my 2 ILV haha

[coral tapir]

then i'd just look for times when gas is low

[storm cloak]

Hello is SLP only recommended for big stakes?

[daring gale]

yeah good call thanks !gas

[full sedge]

okay guys i tried the IL calculator, but i can't put a hypothetical number in

[daring gale]

!gas

[exotic igloo]

No.

Gas is on the side bar

If you want to do commands do so in #👑〕bot-commands

[full sedge]

I'd like to put these numbers in ILV $1000, ETH $5000, 2022 Aug

[coral tapir]

you have to stake ILV and ETH in equal $USD proportions when you're doing a LP

[lapis lark]

i did an 80:20 for ilv and slp respectively

[dim wagon]

Thanks that's a good ratio!

[crisp arrow]

Would I be able to take my ilv rewards and put them in the ilv/eth pool or are those stuck in the ilv pool for the vesting year?

[lapis lark]

not really. there's really no set recommendation. just depends on how risky you like it

[full sedge]

so whats the riskiest scenario to put your tokens?

100% in SLP and locked for 12 months

[lapis lark]

uhuh

anyway, it still depends you just gotta track you're earning more than impermanent losses

[analog hamlet]

High risk high reward

[coral tapir]

yep, but that's also the highest potential reward, so you just have to balance your risk tolerance with what you wanna get out of it

[exotic igloo]

No

[exotic igloo]

What we the apes did

I'm fine losing it all tho

[full sedge]

so all you apes went 100% in on SLP locked 12 months

[exotic igloo]

But not really

Only the crazy ones

[winged heath]

Can someone explain how apy% are calculated ?

[full sedge]

ok im crazy

[gloomy gazelle]

It uses the value of the amount of ILV tokens distributed (shown here 2 weeks per bar) and your percentage of the total value locked in the pool concerned times your weight in the pool

We are just starting the third bar I think.

[charred rampart]

Hey everyone. One question. On my dashboard it says total pending staking rewards and a number

Is that how much is anticipated for a reward after my selected staking period is up.

[gloomy gazelle]

No. That is how much you’ve earned so far. You can claim it with a transaction and start compounding your interest.

If you claim it your initial investment still stays staked and earns more

[charred rampart]

It’s been in there…a week

[gloomy gazelle]

Rewards are earned every block. So about every 15 seconds.

[charred rampart]

And it’s…4.6 ilv

[gloomy gazelle]

Nice

[charred rampart]

That’s not what I was expecting

[gloomy gazelle]

I mean if it’s in SLP it’s getting like 600%apy

100% if it’s ilv only pool

It’s really good man

[charred rampart]

Slp

[gloomy gazelle]

Figured. If that rate keeps up you’ll have 6x the amount of your initial investment. I know insane.

[charred rampart]

I’m pretty amazed

[daring gale]

so why would someone put it on SLP if at the endof the day you want ILV

[magic laurel]

how much u got staked?

[daring gale]

or do you just go sell the SLP and get more ILV then restake?

[charred rampart]

This is how much I have already?

[magic laurel]

yeah

[spiral flame]

https://tenor.com/view/mind-blown-amazed-explosion-space-omg-gif-10279314

[charred rampart]

I’m trippin I’m sorry

This is crazy. Haha Jim I love that pic. I’ve only staked a week. Pretty substantial amount of slp. Just never ever saw that sort of reward

[spiral flame]

some stake on ILV because of the increasing price. some stake on SLP for the APY. its really up to you.

[spiral flame]

I know. its a gold mine.

[magic laurel]

how much did you stake? Also you did the 600 APY options correct?

[charred rampart]

Well I took 6 weeks

At 365%

[magic laurel]

how many tokens do u have staked sorry if i worded it bad

[eager rover]

Just dont hit claim with these gas prices, someone outright raged quit the discord from claim fees lol

[charred rampart]

It’s a lot bro

Sorry I don’t feel comfortable saying the specific amount

[magic laurel]

lol makes sense its all good

[spiral flame]

i think its not really proper to ask 😄

[charred rampart]

But I’m thinking of moving more of my portfolio over with these rewards. Just to be clear. That pic I sent is rewards I have already after one week?

And I know this is a bit inappropriate to post like this but I’m just trippin

[tranquil obsidian]

It is not going to be few 1k . so its a decent investment when ppl stake SLP . as its need eth as well. little value can't really make up the 50/50

[runic veldt]

When staking for 12months when dowe receive rewards? And what kind of rewards do we receive?

[polar apex]

yes because you are early. as we go later in the process the staking rewards will fall

[spiral flame]

you receive ilv rewards. which will be staked for 12 months.

[runic veldt]

Thanks sir for low budget - what is the recommended? Just ilv staking?

[spiral flame]

i dont think there is a recommended amount. Just invest what you can afford to lose. 😉

and ofc, take the gas into act

[runic veldt]

Thanks jim - so would be best to get ilv than eth slp?

[spiral flame]

if you think ILV will double its price before Aug ends, I would stake on ILV for fast returns.

NFA

[full sedge]

at what price did you buy in bro ?

[gritty sparrow]

I staked 0.64 ILV for 12 months how often would I get reward?

[full sedge]

you gradually get rewards, however, you wouldn't claim until its worthwhile

[charred rampart]

Early July

[mystic temple]

Nice.

[winged heath]

do SLP tokens turn back into ILV and ETH tokens?

[charred rampart]

Yes

[winged heath]

ok and i could do that via something like sushi swap correct?

[charred rampart]

Correct. One of the council members here in discord showed me how. It’s a bit tricky.

[winged heath]

is it on that page?

[charred rampart]

They can call you thru direct messages and then take you the process by revealing their screen

[spiral flame]

there are rewards every couple of seconds

[charred rampart]

Jim if I have a 6 week stake in, and I wanted to add liquidity and stake some more, the second bunch of slp tokens would just have a separate contract on whatever I choose to stake at?

[spiral flame]

not really sure about the maths. Calling some Illuvinatis

[gritty sparrow]

Thank you jim is it in ILV

[winged heath]

is the only risky thing about being in ILV/ETH impermanent loss?

[spiral flame]

you can choose between ILV or sILV when claiming rewards. 🙂 sILV is an ingame currency you can use alternative to eth.

when you choose ILV it will be added to your stake pool locked for 12months.

[cosmic trellis]

Meanwhile I'm staking 1 ILV lol

[drowsy wigeon]

Can u claim say ILV at first then sILV on 2nd claim? I haven't actually tried claiming yet

[wintry yew]

seems like if ur staking less its a better idea to stake on SLP

[spiral flame]

yes

[gritty sparrow]

Can you claim both at the same time or you just need to pick one?

[spiral flame]

from my experience, you can only choose one per claim.

[charred rampart]

As more tokens are claimed, the asset is inflating right?

Only 700k tokens in circulation. And that number is growing by what percent per day I wonder

[glossy dirge]

quick question, if i initially stake 10 tokens and say i want to stake more the next month, do i need to unstake and then stake again?

[spiral flame]

i think nobody is claiming atm because of the gas 🥲

[mystic temple]

Nope

[spiral flame]

You need to claim all the pending rewards before staking.

[mystic temple]

I think he's talking about investing additional funds

[glossy dirge]

Exactly

[honest wraith]

To my understanding, yes

[drowsy wigeon]

Yeah its a bit of a pain to claim when u wanna add to the stake later on specially if the gas is high and u initially just staked less than 2 ilv

[wintry yew]

In order to stake in the SLP pool do you need to stake both eth and ILV or can you just stake ILV?

[gloomy gazelle]

None yet technically since all rewards are locked for 12 months from claiming. But yeah the ILV pool is getting very full. And that’s just a small percent of what will be in there 10 months from now.

[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

[gloomy gazelle]

Did you get SLP figured out? Check this👆🏽 if needed

[wintry yew]

Ah ha I see thanks for writing it all out that helps a lot 🙂

[gloomy gazelle]

No worries that’s a copy past from stormi or wade

Always check pins in these channels. Full of nuggets

[wintry yew]

Fo sho 🙂

[winged heath]

is it really risky to just stake everything in slp? i want to lock in for around 4-5 months (just b4 the end of the year) can someone give their thoughts if this is a good idea?

[gloomy gazelle]

I would. There is higher risk but way higher reward. I think you’ll maybe suffer some IL in the short term. But the rewards will more than cover it in the long term. I think. NFA

[winged heath]

ok thank you, do you think 4-5 months is a good duration to lock in?

[gloomy gazelle]

That’s a hard call We all have to make

[grand zealot]

is there any incentive to unstake your ilv when the game launches?

[gloomy gazelle]

None.

Staked is the only way to get revenue distributions

[next ruin]

For less than $1k total probably makes sense to just stake ILV rather than split for SPL just due to extra transactions and gas? Yes, no?

[gloomy gazelle]

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

[grand zealot]

idk im not staking rn since the gas fees are just not worth it

[gloomy gazelle]

Yeah wait till the weekend.

Right now is lower than most of the day. But still might be half this or less on the weekend.

[winged heath]

if i want to put all my ETH into SLP, would i go to sushi swap then trade half of my ethereum for ILV, then go to the liquidity tab to get my SLP

[grand zealot]

yeah im a very cautious trader, so i rather not lock my coins

[analog hamlet]

what happens when you reach the end of a locked up period?

[grand zealot]

but with the apy output, the gas fees on the weekends and the weekdays will require me to hold ilv for a few months

[gloomy gazelle]

Maybe. Maybe not. if you only do transactions when gas is very low you could make it work.

[grand zealot]

but thats just because i dont have tha tmuch money to work with lmao, im sure its different for large holders

[gloomy gazelle]

Nothing. It stays in at its current weight until you withdraw your deposit

[gloomy gazelle]

Yes

I’d save some eth for transactions

[winged heath]

ok ty

[gloomy gazelle]

Trade a bit less than half I guess

[winged heath]

trade a bit less than half in total, or just a little less than half of ETH when i swap to ILV?

[gloomy gazelle]

You will need equal usd value amounts when you add liquidity. So if you trade exactly have you eth then you will not have enough to pair and pay for transactions. So swap less than half of your eth for ILV. just a little less. Enough for several transactions

$50-$200 I don’t know

[winged heath]

ok thanks

also just want to confirm, after my lock-in period is up, its only my rewards that get vested correct? i get back my initial SLP back straight away which i can then turn back into ILV and ETH?

[gloomy gazelle]

After lockup is over you will be able to withdraw your initial deposit of SLP tokens. Yes. But you can also leave it staked.

[gloomy gazelle]

It will likely not have the same amounts of eth and ilv due to impermanent loss

But I’d think you’d still be ahead.

[winged heath]

ok so the amount of ILV and ETH from my initial stake will most likely have gone down, but theres a high chance their value will have gone up right?

[fresh grail]

Say the price went to $1500 per Ilv. You lose 25% of the LP valve, but you'll still be up 600-660% if you lock in for 1 year

[gloomy gazelle]

You will end up with more of one and less of the other. I’d think less ilv. And more eth. But hard to know for sure since it’s months from now. Whichever pumps harder you will have less of.

[winged heath]

ok thanks guys, also u know how u said once my lock-in period is over i can choose to keep my SLP staked. The time resets correct? its not like i can choose to keep it going right?

[fresh grail]

I might be wrong, but you'll still stake. It just will unlocked. I don't believe the time will reset

[ruby wing]

^^^

I believe if you stay staked you keep your weight too

[winged heath]

ok ty

[fresh grail]

even the 2x weight?

[ruby wing]

From what I understand, let me confirm

[winged heath]

also what is a reasonable gas price?

[ruby wing]

#🥩〕staking message

[ruby wing]

Depends on how big your bag is

I aim for 10-20 GWEI

usually lower on weekends 🙂

[winged heath]

wait how do u calculate how much GWEI it is from the gas number?

[fresh grail]

Well damn...looks like the 1 year lock is a no brainer

[ruby wing]

It can be but just depends on alot of factors and your risk tolerance

[ruby wing]

I just know 10 GWEI is around 5$

not sure in terms of actual calc haha

I think its just a certain unit of a full ETH

[winged heath]

ok ahah, is 35 gas a lot?

[ruby wing]

nah like 15$

It all depends on the value of ur tx

lets say ur buying 1500$ of ILV then 15$ isnt that much

but if you are buying 100$ of ILV it matters alot

@fresh grail also congrats on the NFT!!!

[fresh grail]

I was Yield Farming on BSC, so my tolerance is quite high haha

[ruby wing]

haha, ya then if u believe in the project staking some for 12 is great

IMO

[fresh grail]

thanks Wade, I intend to sell it for some more Ilv

[ruby wing]

Good call, lmk when u go to sell it 🙂

[fresh grail]

I will 🙂

When Ami said I could fetch over 10k for it I freaked

[ruby wing]

Wow

[fresh grail]

Yep and all I thought was how much I could throw into the SLP

[winged heath]

once i do this, will i get my SLP?

[last acorn]

Hello, does this mean the rewards token will be locked 12 months after I claim them?

[potent flare]

yes

[fringe spade]

hi sorry guys, when i provide liquidity for the Sushi LP, i will get ILV tokens as reward right?

or ETH and ILV depending?

[potent flare]

ILV

[last acorn]

I don't understand this, do you feel 12 months is too long to lock the rewards token?

[fringe spade]

Ty i just bought some more ILV and got ETH.

Or do i need something else? I can't stake

[potent flare]

does nt matter what i feel, this is their economy, they did this intentionally so people would not dump the price for a long time

[last acorn]

why would anyone want to lock their rewards for 12 months? I just want to listen to your opinion

[potent flare]

you need to provide liquidity on sushi, then when you do, you will receice SLP tokens, then you can claim them and stake them on illuvium.io (i do have to tell you, it costs quite a bit of gas to stake SLP and claim ILV)

[fringe spade]

because you get more rewards and this way you support the project and token price... If you feel this is a long play, then you lock for a year..

If you have weak hands and want to sell dips, you can choose not to lock it. xD

[potent flare]

again, it is how the economy is built, you can chekc the tokenomics on their whitepaper. My opinion: I think this is good, because the first tokens from yield farming will start unlocking on in july of 2022, by then the game has a good chance to become popular and for revenue distribution (which is 100%) can be too good for people to dump ILV.

[fringe spade]

Ok, I will just buy more ILV and stake just for the ease of it.

Thank you for your help Shabim.

[last acorn]

Hi, this is from ILV pool or SLP pool?

[last acorn]

Thank you, I may need to read the whitepaper again to understand all this.

[fringe spade]

I think you can lock longer for both... I am only doing the normal staking pool tho

[brisk surge]

Good to see you here Jeff

[pastel jetty]

Hey guys, a bit of a newbie question here: I use the ILV compound calc (pinned) and I don't know how to figure out the gas tx and why I gotta double it. Would love some help 😄

I don't wanna withdraw the ILV, I wanna restake them

[potent flare]

as far as i am aware, firs t you have to withdraw the already staked ILV, and then stake them again

i might be wrong, might wanna ask Stormi Arash Wadewatts77 etc (the mods)

[pastel jetty]

alright, thank you!

[ruby wing]

When you claim from the single pool only there is only one tx

But if you are in both pools there are 2 tx

Meaning you double it, maybe I am misunderstanding the question

[manic ice]

I have some funds at stake for 1 week locked, its already finished. Can I pull it out later and it will continue to gain or it will stop.

[potent flare]

if you unstake them, then they will stop gaining rewards if that is what you mean

[manic ice]

would it stop gaining rewards?

[potent flare]

again, if you withdraw them from the pool they will stop gaining rewwards, if you leave them alone, they will continue gaining rewards

[manic ice]

Thank you.

[manic ice]

Sorry, Follow up question. Will the APY and weight will be as per 1 week locked?

[potent flare]

yes it will remain with the weight of a 1 week lock

[manic ice]

Thank you again. Have a great day

[manic spindle]

Weight will remain. APY changes constantly. Not only by people joining/leaving the pool but ILV pool also gets all the claimed rewards staked in there AND goes down 3% every two weeks like the LP pool.

[pastel jetty]

I'm trying to figure out how can I calculate the time between each reward-claim so I can maximise profit 🙂

I'm using the calculator here and I can't understand what is "gas tx"

[twin furnace]

Sorry might be noob question. After the rewards have been vested for the 12 months duration, will they become automatically claimed or will they stay at a 2.00 weighting just identical to a 12-month stake?

[rich patio]

does the ilv reward stops at certain point if your not taking the reward?

[manic spindle]

Rewards are not vested before you claim 🙂

• You stake a certain amount of ILV and decide to lock it or not (if locked, you will receive more rewards but cannot withdraw until the locking period 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

[rich patio]

it has been 3 days and it wont go up

[twin furnace]

Aww, such a clear answer, thank you very much! ❤️

[pastel jetty]

and how do I decide what amount justifies gas fees?

[manic spindle]

If your staked deposit is very little, this could be the reason. In general, rewards are piling up with every block so roughly every 15s.

[manic spindle]

That is for you and your financial strategy to decide. For one, looking for times of lower gas fees is obviously always a good idea, but when to claim exactly also depends on whether or not someone wants quicker claiming for earlier compounding for example. But who says the APY doesn't go down at some point suddenly and waiting for even lower gas fees / bigger rewards pile wouldn't have made more sense? This is impossible for me to give you a clear answer for, sorry 🙂

It depends on gas fees at any given time, amount of rewards being claimed, financial strategy and more.

[pastel jetty]

there's a calculator pinned that helps calculate on average how long I should wait until my next claim. the thing I can't figure out is what the gas tx is

[potent flare]

what is the best strategy (gas-wise) to stake more, and claim from both pools?

[pastel jetty]

#🥩〕staking message
is this cal still viable?

[willow crest]

if for example ive been staking 10 ILV for 52 weeks and want to stake another 10 ILV for 1 week will the first 10 be taken out of the 52 week lockup so that i will be staking 20 ILV +whatever rewards for 1 week? or they are separate?

[honest wraith]

Finally made my first staking woot woot!

[manic spindle]

Everytime you deposit a new batch for staking it has it's own lockup period (if you decide to have one). They are listed separately under "Vesting" and need to be withdrawn separately as well 🙂

[willow crest]

thanks for that rly appreciate it

[hexed kettle]

when staking with Sushi LP flexi, can I withdraw the ILV rewards anytime?

[manic spindle]

No. Regardless of what pool you stake in, every reward claimed as ILV will be locked for 12 months and staked in the ILV pool with a 2.0 token weight for compounding 🙂

You can always withdraw anything you staked though if there is no locking timer.

[silent spire]

The claimed rewards will be locked for 12 months but can still be staked right. So, is it a no brainer to re-stake the claimed rewards (ILV) immediately for next 12 months?

[manic spindle]

As I said in my reply before "... and staked in the ILV pool with a 2.0 token weight for compounding" - this means claimed ILV rewards are automatically staked at the time of claiming 🙂

[silent spire]

Now it makes sense. I thought we had to manually re-stake in given pool. Thank you.

[thin patrol]

Hey stakers if anyone is a little clueless on IL(impermanent loss) you can watch this video for clarification : https://www.youtube.com/watch?v=8XJ1MSTEuU0&t=35s&ab_channel=Finematics

[potent flare]

@hollow geyser yes, provide equal amounts on the sushiswap website in the liquidity pool. Receive SLP token, claim it and stake on illuvium (cost a lot of gas tho)

[thin patrol]

and IL

[hollow geyser]

I know they constantly change but what how much gas we talking here? Just want to crunch my numbers here and see where I sit.

[manic spindle]

Impossible to predict, sorry. Gas can be $100+ or $10. Really depends on the current network load 🙂

[hollow geyser]

Yep, fair enough.
Thanks heaps

[silent spire]

I got 2.38 ILV with a week of staking. Is it profitable time to claim when gas is low 15-20ish? So it can start collecting more ILV?

[thin patrol]

i would think 2.38 is good enough to claim at the current gas fee :) - But if you want you can keep a look out and see if i fall even more to maybe 15-25 gwei

[silent spire]

Thanks, now time to keep my on those enormous gas fees. If low, I got in 😄

[thin patrol]

gas fee is about 20 usd it is still a little to steep of me :( compared to the normal 1-5 usd

[last acorn]

Hi guys, when you provide liquidity on dex like sushiswap/pancakeswap, they said that a portion of swap fee on that pool will go to you (usually 0.025%), but how do you claim it?

2nd question, what is the reward for Sushi LP pool?

[manic spindle]

Regardless of what pool you choose, rewards will be claimed as either ILV or sILV 🙂

[last acorn]

Thank you. So this means I can choose either ILV or sILV?

[manic spindle]

• You stake a certain amount of ILV and decide to lock it or not (if locked, you will receive more rewards but cannot withdraw until the locking period 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
  🙂

[last acorn]

may I ask if you know about this @manic spindle

[manic spindle]

Try to take a look at this: https://help.sushidocs.com/faqs/faqs 🙂

[hollow geyser]

Stormi, do you get sick of noobs like us asking the same questions all the time?

[manic spindle]

If I couldn't handle repetitive questions then I shouldn't be a mod, although sometimes it would be nice of course if people would read all the things provided already under #❓〕faq and #791148036935516161 🙂

[hollow geyser]

You have the patience of a saint, I would last 5 minutes doing that.

[last acorn]

Yes, I have read this and many other documents but still can't find a clear answer.

In this document it said:

"If you have LP tokens you automatically get 0.25% of all trades in your pool added back to that pool, so you get a proportional share."

But it doesn't said how to claim it? How can I check like every day/week/month how much I have earned?

[manic spindle]

I think this is included when selling the LP tokens but I'm not in the pool myself right now. @exotic igloo any chance you can help out here? 🙂

[exotic igloo]

Its added to the price of the SLP token

So it climbs in value over time

You get it when you withdraw by getting more ILV and ETH

Depending on your IL

[manic spindle]

Great, so I remembered correctly 🙂

[last acorn]

Please tell me if I understand this correctly:

For example, the ILV/ETH pool has: 100 ETH & 1.000 ILV (assuming 1 ETH = 10 ILV)

In that pool I deposited 1 ETH & 10 ILV, so I contributed 1% of the pool.

Now people make some swaps, total value of those swap is 50 ETH & 500 ILV, 0.25% of its (0.125 ETH & 1.25 ILV) added back to the pool, so now the pool has 100.125 ETH & 1001.25 ILV.

Because I contributed 1%, so when I withdraw, I will get 100.125 x 1% = 1.00125 ETH, 10.0125 ILV, that is my rewards?

Ignore impermanent lost in this example.

[potent flare]

https://tenor.com/view/math-calculate-confusing-figure-out-gif-6237717

[exotic igloo]

Yes but people actually removes that liquidity from the pool when they buy.

You get the global idea

[spiral flame]

https://tenor.com/view/osita-osita-iheme-nigerian-nollywood-calculating-gif-16142281

[exotic igloo]

Thats why its added to the SLP price in form of dollar and when you decide to remove liquidity you will get X eth and Y ILV with that amount

Depending on your IL

[manic spindle]

@south sundial

• 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

[south sundial]

@manic spindle thank you

[upper thorn]

to withdraw my staked tokens to i go to vesting - withdraw? and i have to withdraw all of them i cant choose a specific amount to unstake?

[cunning perch]

The ones that are unlocked can be unstaked. Yes you can see them in the vesting section

[upper thorn]

yea but can i not just choose to unstake a certain amount? i have to unstake them all.. then take out what i want then restake the remainder

[manic spindle]

As of now you can always just unstake the whole stack 🙂

[upper thorn]

Was hoping i was just able to unstake a few and leave some in there. instead of unstaking.. then paying for gas to restake. thats lame

[manic spindle]

Check "Vesting". Every deposit and every claim has it's own "batch" and every batch can only be withdrawn as a whole. That's how it currently is, sorry 🙂

[brisk surge]

Hi I read the link about impermanent loss but I don't really understand it can someone help?

[thin patrol]

Yeah i have a video for you - to sec il find it

[cunning perch]

In shortly means: you add ETH + ILV in the pool with the same monetary value ($10 ETH + $10 ILV). Then for example ILV pumps in price and unbalance your stake. in order to keep the balance. the pool will sell your ILV and buys ETH. So in the end you will have more ETH. It can happen the other way as well.

[south sundial]

@manic spindle SLP means?

[thin patrol]

This is a good video if you are a visual learner https://www.youtube.com/watch?v=8XJ1MSTEuU0&t=35s&ab_channel=Finematics

[cunning perch]

Sushi Liquidity Pool token

[brisk surge]

Thank you I'll give it a watch

[south sundial]

I see I thought from axie thanks

[cunning perch]

no worries. It is very different from that 🙂

[south sundial]

So to stake I need to eth and ilv right ?

[cunning perch]

staking in SLP, Yes, you need ETH + ILV (like $10 ETH + $10 ILV. They need to have the same monetary value)

[south sundial]

As of now how much is eth and ilv in dollars ?

[cunning perch]

For price discussions you can ask in #💰〕token 🙂

[south sundial]

Thanks

Im using tablet as of now what is the besy website to buy eth and ilv ?

[real nebula]

God i hate ETH. It took me $120 in fees to go from having ETH to being deposited in both the solo ILV pool an the lp pool.

nice to be starting my interest out at -$120 that I have to earn my way out of

[agile basin]

im about to do my first staking
any advice or suggestions?

[manic spindle]

Make sure you're bags of ILV are big enough to justify gas fees 🙂 ~40 GWEI right now is a bit high. Could wait for a bit lower fees but no financial advice 🙂

[agile basin]

well i only have about 0.1 eth to stake so i think it might be better to wait😂

[drifting shell]

may be a bit too late to ask but how do you unstake SNX from the flashpool?

[manic spindle]

You can unstake under "Vesting" 🙂

[mental tangle]

PSA

Highly recommend waiting for the weekend to do all staking activity everyone....(new people)
Gas is typically lower on weekends.

[agile basin]

thanks for the psa
im still converting my eth to ilv with as low price as possible so its gonna be a while😂

[mental tangle]

Right on 👍
Best of luck kind sir 🥳

[agile basin]

thank you for the well wishes

in all of your best opinions: which is better staking $ilv or ilv?

[thin patrol]

do you mean ILV and sILV?

[agile basin]

yes that one😅

my eyes are tired so i confused the s with a $😅

[thin patrol]

You should read this it's from the FAQ

[drifting shell]

[agile basin]

thank you very much

[real nebula]

Do we know if there will be other sources of sILV, or is staking going to be the sole way of generating it?

[manic spindle]

Only staking. Anything paid for with sILV can also be paid for with the main currency ETH 🙂

[real nebula]

I see. So sILV is a replacement for ETH in game.

[tall viper]

If my goal is to obtain the most ILV I can, would it be wiser to stake in the ILV pool instead of the Sushi pool?

[molten compass]

guys what are the benefits of staking ILV vs the Sushi ILV-ETH LP? is it just that you get higher APRs with the LPs but then are less likely to profit from ILV going up because of IL?

[cunning perch]

Sushi pool runs the risk of Impermenant Loss. Make sure you understand it fully before you join it. The decision of which pool to join is solely on you my friend. No one can help u with that

[cunning perch]

IL is a risk that SLP has to deal with that's why it has a higher APY to compensate the loss. The single pool us risk-free and therefore comes with a lower APY

[wispy nest]

Question regarding impermanent loss, is there stil Impermanent loss if both currencies (ILV and ETH) increase in value?

[copper dawn]

A 50/50 split is required at all times in a liquidity pool. If they both increase in value and hold the same ILV-to-ETH ratio there will be no impermanent loss. However if one increases or decreases relative to the other, it will need to rebalance to achieve a 50/50 ratio in the pool once more. This means if we go from 0.1 ILV per ETH to 0.2 ILV per ETH, you you will see a heavy IL

[fickle night]

hey guys

[tiny latch]

Little question regarding the staking rewards. If I lock my coin in a flexible lock, i know the reward need a vesting period before unlocking them but are my initial token locked for a certain period too ?

[fickle night]

just put some balance to my metamask, but can't see my balance on the website, does it take a while to show up there?

[copper dawn]

If you staked correctly, you will have sent funds from your metamask wallet to the staking pool. This means the ILV will no longer be visible the metamask wallet and will be visible in the pool as your amount staked.

[wispy nest]

This was really helpful. Thank you!

[fickle night]

yes but i didn't stake yet, since i can't see my metamask balance available in iluvium website

[copper dawn]

Think of it like community bowl full of ILV and ETH. people can come by and drop in ETH in exchange for ILV. This bowl must always hold 50% ILV and 50% ETH in value.

[dense plover]

I seem to remember it taking a few minutes to show up. Those few minutes were eternal though lol

[cunning perch]

In the flexible pool your stake is not locked, your rewards are

[copper dawn]

If you staked your initial amount under the Flexible option, you can unstake at anytime. Only rewards need to wait 12 months to vest.

[fickle night]

yeah still didn't show up, taking aaaages to show up my balance

[cunning perch]

if you use MM on the website (the extension) it might probably only show your ETH balance and not other tokens you hold. You should still be able to see how many ILV or other assets you hold though

[fickle night]

it doesn't show anything 😦

[cunning perch]

So you hold ILV in MM, but the website doesn't show. You have enough ETH for gas?

[copper dawn]

double check you have the right wallet connected on the website and you selected the Ethereum network. Also check you added the ILV token

[fickle night]

I hold eth in my MM

[cunning perch]

if you click on MAX nothing happens?

[copper dawn]

did you swap for ILV on sushiswap?

[dense plover]

Are you sure that your ETH > ILV transaction status is set to success in Etherscan?

[fickle night]

oh

[cunning perch]

If you hold both ETh and ILV in your wallet, it should show there

[fickle night]

I need to swap my eth from eth do ILV to stake? silly me lol

[copper dawn]

@fickle night to stake ILV, you first need ILV. Blockchain gaming did a video on the process recently:

https://www.youtube.com/watch?v=J2lJ6WWRuNQ

[cunning perch]

lol. You need ILV to stake ILV my friend. haha

[fickle night]

i thought that having eth would be enough, thanks for the video and explanation

[cunning perch]

well how can you pay the supermarket if you don't have cash? 😄

[dense plover]

make sure you have extra ETH in your MM to pay for gas fees when you swap 👍 got me the first time, had to do another transfer to MM

[trail iris]

How long is the AXS staking pool running for?

[cunning perch]

every flash pool is only two weeks from start