🥩〕staking

[trail iris]

Cheers, I'm being lazy but do you know when this one started?

[cunning perch]

I think we're closing on the end if we haven't already

[trail iris]

all good, I found out about this project too late 😦

[final steppe]

Have 4 days left on it, I believe.

[cunning perch]

haha. Close enough 😄

[cunning perch]

It's not too late yet. The MC is so small and project so undervalued 🙂 APY is still high

[marble bough]

when is the launch sir/maam, @cunning perch

[cunning perch]

!timeline

[woven ibex]

• Numerous partnerships with influencers throughout the
  next months
• Gameplay trailer coming soon
• Mystery Auction shortly coming soon
• Closed beta this summer
• Open Beta / launch in late Q4
• Tier 1 Centralized Exchange listings imminent, date
  unknown.

[marble bough]

thanks ❤️

[cunning perch]

For general inquiry please use #💬〕general and token or price discussion please use #💰〕token and I'm a man haha 😄

[marble bough]

illuvium is kind of hidden gem ❤️

[cunning perch]

it's hatching up as August will probably be explosive for it.

[marble bough]

the price of the market was so high, love it ❤️

[potent flare]

whats the best strategy (gas wise) to stake more and to claim from both pools?

[real nebula]

so just to be clear: all claimed ILV is staked for 12 months (I assume at max APY as well since thats the max duration?) no matter what staking term + APY we picked for the amount we initially deposited?

[ruby wing]

Correct, Vested rewards compound at 2X weight for the 12 months in the single asset pool

Only when u claim ILV, sILV doesnt compound but can be used right away at game launch (or other things potentially) #🎮〕illuvium-zero

[hollow widget]

Question : if i have 10 ilv staked flexible and i claim my 5 ilv reward (which would have a 2.0 weight) does that mean my token counted for revdis is 20?

[copper dawn]

All rewards have a x2 weight and a 12 month vesting period

[vague thistle]

I'm still terribly confused about how what the pool is / how it makes money. Love the idea of rewards, but I don't get how it works

[hollow widget]

So in that scenario, my ilv counted for revdis would be 20 ilv? Is this correct?

[copper dawn]

When the project was created and the ILV token was born, they specified how the tokens are distributed. You can find the table here: https://docs.illuvium.io/whitepaper/tokenomics

The token supply for yied is 4 million ILV. This 4 million ILV is slowly given out to those who stake in the different pools.

On top of this, if you stake in the ILV/ETH pool as SLP, you will earn 0.25% on all transactions going through based on your weight in the pool. So if the pool earns $1million in fees in 24hrs and you provide 1% of liquidity in the pool you get $10k of the $1million.

[copper dawn]

your initial 10 ILV would be at a weight of x1. Your 5 ILV reward will be at a weight of x2. So in total it would be treated as if you had (initial 10 ILV * 1.0 weight) + (5 ILV * 2.0 weight) = 20 ILV. Yes.

[hollow widget]

Thank you! :)

[vague thistle]

Thanks Puddles, you are really helping. Can you explain a little more though on the concept of a staking pool in general? I know I can contribute and I know I get rewards, but I don't get how the pool plays in the general scheme of things. Does it out perform retail investors trying to swap eth and ilv with other investors? How does the pool play into the market as a whole.

I hope I am making sense here. It's probably dumb and already explained, but it's just not clicking for me yet.

[dim wagon]

How would I see if I have any impermanent loss on the slp I staked? And should my liquidity still be showing up on sushiswap or no bc I staked the slp

[ruby wing]

https://analytics.sushi.com/pairs/0x6a091a3406e0073c3cd6340122143009adac0eda

Check out here mate

also can use imperm loss calc which is pinned

[dim wagon]

Thanks for the help sir

[ruby wing]

@heady plover you need to contribute 1:1 in the ILV/ETH Sushi Pool

That is because you are a Liquidity provider in that pool and you need to provide an equal amount of the pair

[copper dawn]

Why would people stake their ILV and what is the purpose? I can speak directly in terms of the Illuvium project. Other staking pools operate mostly by offering yield (0.25% on sushiswap).

In Illuvium, the ILV token is for governance. By owning ILV, you own a "share" in the Illuvium project. Only by staking your ILV will it allow you to vote on changes to the game, run for council, or vote for council members (unless i'm mistaken here).

In addition, you will be rewarded as an investor as the game grows. You must have your ILV staked into a pool to receive the allocated yield rewards and any revenue distributions (revdis) when the game launches and they begin. If you do not stake you will not receive these benefits.

[vague thistle]

Thanks for that Puddles, and this is the part I totally understand and am excited about. I am currently reading about Uniswap and how/why it works under the hood. The only thing I can tell so far is that the DEX cuts out the custodian, therefore lowering the transaction costs to participants. At least that's what I am gathering so far. But it's like, 150M is staked in ILV and I just don't have a clue what is being done with my staked ILV. I'll keep reseqrching!

[cosmic trellis]

Is there a minimum amount of ILV rewards you have to get before you can claim?

[copper dawn]

no, but you will pay ETH gas fees to claim.

[azure jewel]

Just so I understand fully, once the timeframe on my locked funds expires, as long as I do not manually take the funds out it will continue to stake is that correct?

[cosmic trellis]

When I click either of these buttons they don't work, is it just a glitch?

[final steppe]

This is correct. And the token weight will remain the same as the weight you received when they were locked.

[final steppe]

Hey Clorxo, does it show that you have rewards to be claimed to the left of those buttons?

[cosmic trellis]

Yep very little though, just wanted to see how much gas I would have to pay if I were to claim so no worries if I can't withdraw right now.

[final steppe]

Ahh, so maybe there's a very small minimum required amount in order for the claim buttons to become active 😅

[azure jewel]

gas estimates would be next to the gas tracker which is roughly at $42-51

[timid bone]

Quick Question: Suppose I staked 5 ILVs flexible.

When I withdraw 5 ILV's, only the rewards will be locked for another year correct?
The 5 ILVs i've withdrawn i can already trade/swap to cash out. Right?

[potent flare]

yes

[jagged spindle]

gas expensive as heck rn

[timid bone]

Thank you so much @potent flare ! It's good to know that you can get out when you want (except for rewards).
I can and will now be buying and staking ILVs. 🙌

[potent flare]

no problem, wait for the gas to calm down a bit tho

[rocky silo]

whats the different btw core pools and flash pools? which is better?

[potent flare]

core pools are the long term pools. Flash pools are promotional and usually last a short time

[rocky silo]

both offer the same reward?

[potent flare]

they all offer ILV as reward, but in different APY%

[rocky silo]

which do you recommend? 🙂

[potent flare]

i cant recommend any, you should DYOR and choose. I personally am invested in core pools in both of them

[vague thistle]

Why is the APY on Sushi so much higher than ILV? What makes that happen?

[hybrid ferry]

Hey I have staked ILV for an year and have never checked on them again. Are they safe, lol, the questions actually is do I need to collect the rewards or they will just accumulate by themselves ?

[cosmic trellis]

If you claim the rewards, the ILV you've made from staking will be locked and will earn you even more ILV so if you have a year's worth of ILV stacked up I would recommend claiming it

[final steppe]

The weight of each pool is different. Sushi LP pool has a pool weight of 0.8 while the ILV-only pool has a pool weight of 0.2 meaning there is a much larger amount of yield farming tokens being given to the Sushi LP pool. This is because it is the more risky option given the impermanent loss that can occur with your tokens.

[vague thistle]

What determines the weights?

[rugged wagon]

How many weeks you decide to lock up ilv token

[copper dawn]

The project has specified the pool weights ahead of time. You can read about weights in the FAQ section:

https://illuvium.io/staking-faq#pool-weight

[copper dawn]

everyone makes their own choice on how long and if they want to lock. Many have locked for 52 weeks for the x2 weight (these are the long term holders). Others want less risk and are flexible or a shorter locking period.

[rugged wagon]

Yes I know I was answering decrypted

[jagged spindle]

Is the difference if pool weights that much of a difference?

[manic spindle]

0.2 ILV, 0.8 LP pool weight

A bit of both is taken away when flash pools run with 0.02 weight

[jagged spindle]

Some reason when I went to lock SLP it locked as flexible instead of Locked

[rugged wagon]

If you lock up for the minimum amount of time on the main pool it’s only 0.2 but if you lock up on same pool for 52 weeks it 2x weight

[manic spindle]

Token weight is influenced by locking your stake, yes. Pool weight is not 🙂

[rugged wagon]

You probably didn’t click the locked. It starts on flexible

[copper dawn]

Pools are smart contracts. We currently have two core pools at 0.20 and 0.80. This is the ratio on where the dispersed tokens are allocated as rewards.

[rugged wagon]

The only thing I have noticed is that you can’t pull out your staked ilv without claiming the rewards. So if you haven’t made more then 40-50$ it’s gonna cost you more then you’ve earned to claim your stakes rewards just to get your ilv back

[copper dawn]

Correct. This is why people are encouraged to either stake a larger sum to offset the gas fees or to wait longer before claiming. It's good to have ~5ILV+ in rewards before claiming if possible. Some argue more.

[wintry yew]

Can u stake more without claiming or do u have to claim b4 u stake

[copper dawn]

You must claim before you can stake more.

[wintry yew]

Damn unfortunate 😦

[swift olive]

When I staked ILV flexible. Can I withdraw just a part of it?
I only find the option to withdraw all ILV I staked in the "Vesting" tab.

[rugged wagon]

Yep I was trying to add to my stake

[copper dawn]

It makes sense you must claim first - you might as well as you must pay for a transaction just to stake in the first place.

[wintry yew]

Does it take two separate transaction fees to claim and then stake ?

[copper dawn]

It does. I suppose it doesn't make sense in reality in terms of gas fees. I've only done it once myself but the fees were only around $12 a transaction at the time so it didn't hurt as much.

Now im wondering if you'll ever be forced to re-claim if you don't stake fast enough as you continuously receive rewards.

[wintry yew]

Yea, hoping for a dip this weekend in gas prices so I can throw some more money in. Still deciding whether or not I should do slp or ILV

[sonic wolf]

RIP

[copper dawn]

So far, ILV core pool has out performed

[wintry yew]

What do u mean by outperformed? As far as the price of ILV going up you mean?

[copper dawn]

Here's a comparison when factoring in IL

I believe you still need to factor in your ILV rewards though. The rewards are meant to offset the loss.

you can find the chart here: https://analytics.sushi.com/pairs/0x6a091a3406e0073c3cd6340122143009adac0eda

[wintry yew]

Which one of those is the ILV core pool?

I’m a bit slow when it comes to all this stuff 😅

[magic laurel]

miners are prolly enjoying these gas fees lol

[copper dawn]

The link provided shows the ILV/ETH liquidity pool. If you are unsure on how these work I would encourage you to read up on them. But essentially, when people want to stake in the ETH/ILV pool they need SLP tokens. These tokens are given by providing "liquidity", by trading equal value of ILV and ETH for them.

These SLP tokens are then staked in the ETH/ILV pool for rewards. However, there is a risk of impermanent loss. This is why we see 600%+ rewards for this pool

So, if I staked $10,000 on July 28th as SLP, I would have made $124.41 less than if I had just held my ETH and ILV without staking. So to offset this different the pool is given 600%+ in rewards. However, if the ETH vs ILV value difference grows the loss will be greater and even 600% might not cover the difference.

[sonic wolf]

this chart shows 70% loss, due to IL

[waxen vigil]

When claiming, do I have to pay the gas fee twice? Once for claiming and once for putting it back into the pool?

[manic spindle]

No, it is one transaction when you claim and ILV rewards are then automatically staked 🙂

[sonic wolf]

REMOVE GOD DAMN SLOW MODE. THIS IS NOT A FUCKING KINDERGARDEN. MODS SHOULD BE ABLE TO HANDLE CHATS WITHOUT THIS BULLSHIT

please?

[copper dawn]

-0.88% LP as of today.

[manic spindle]

There have been several requests to include this. And in general, no need to yell and certainly no need for that language because of it. For now, I'm afraid you'll have to deal with it 🙂

[sonic wolf]

[manic spindle]

Also, stop the spam in every channel, please.

[sonic wolf]

Isn't the request relevant in each channel?

or you guys did server wide slomod? Just get more volunteers if you afraid not to be able to handle the server

[analog hamlet]

Synthaman volunteering themself to help then

[sonic wolf]

do we need IIP to see if most of community wants slow mode or not? Since we are DAO?

[manic spindle]

If you want this addressed, bring it up in #814313819185741845. No need to write these kind of messages in multiple channels, especially not in that kind of tone and unconstructive manner.

[sonic wolf]

and force moderators to change setting like that?

[sonic wolf]

you have to chill mate. you taking stuff too seriously

[copper dawn]

I'm pretty sure Stormi has been chill in handling this.

[sonic wolf]

Taking offence from my comments is not warranted as "fucking kindergarden" was in no way directed at you.

[brisk surge]

doesn't sound very chill imo

[copper dawn]

https://tenor.com/view/spongebob-mocking-chicken-trending-meme-gif-8617355

[sonic wolf]

he is writing some long sttuff right now

[manic spindle]

Check my history and you'll see that I am very much relaxed and easy going when it comes to everything here 🙂 That doesn't change the fact that I see your comment in caps and with these kind of words completely unnecessary. If you want something changed, bring up properly and it can be discussed, I'm sure.

[sonic wolf]

try last couple of days. IL must be insane

[copper dawn]

largest value was on Aug 5th with -1.02% LP

[sonic wolf]

140k loss on 100k of capital

nope, already have snx, dht, mstable on my platter + council duties

[ruby wing]

No solo mod? haha

[sonic wolf]

but still bring more ppl. mods dont ask for food

soon size of discord will be 2x of snx

you guys need to scale, i think stormi as head mod is the first one who understands this, hopefully

[wintry yew]

Yea I read up on impermanent loss a bit last night and I think I understand it well. Will have to read up on the chart a bit cuz that I don’t understand but I appreciate your help Puddles thank you!

[sonic wolf]

look at my chart, if you invested 100k in ILV and ETH (50%-50%), and just held them without staking, right now you would have 403k USD. But because you staking and one asset going up faster, you end up with 262k USD. So 140k less compared to just holding

[wintry yew]

Idk IMO mods in this discord have been better than any other channel I’ve ever seen. There’s always someone around helping out 😐

[ruby wing]

❤️

[wintry yew]

Is that not including the rewards or is the 262 with rewards

[sonic wolf]

chart does not see rewards

but no way you could make 140k usd in rewards, from 100k original investment in such short time

[wintry yew]

Ok ok yea makes sense. Both seem like a worthwhile investment. It’s hard to tell what a small investment would be better off in, like slp or ILV

[sonic wolf]

if you stake on longer time horizon, ILV game launch and ETH 2.0 proof of stake should go at same time

[copper dawn]

if you have less than 10 or even 15 ILV I would suggest the ILV core pool

[wintry yew]

I think you would have made the 140k back tho… since you’d be making 600k in a year if you staked for a year

[sonic wolf]

watch your language ser, we have sensitive mods here

[wintry yew]

Yo Ami I appreciate u 🙂 ur a good mod

[copper dawn]

also keep in mind the APY is variable.

[wintry yew]

True it is subject to change

[vivid cove]

Is there a easy way to see your average token price? If you bought at different times and dont want to calculate manually?

[silk meteor]

Hey guys, it’s been an amazing ride since I started staking just a month ago, thanks to this community! Rather than open another retail business, I should just Yolo more into sushi LP pool locked for a year! Rev Dist would be huge.!

[final steppe]

I meannnnn.... I think I know a few people that may have a similar plan in mind. Definitely not financial advice... but that train of thought isn't that whack, is all 🙂

[silk meteor]

Yeah off topic but nowadays very hard to retain workers and costs keep going up.. maybe I should start paying them in ILVs 😂

[vivid cove]

I feel the same. I dosent belive how crazy this ride have been soo far 😅

[silk meteor]

Best thing I ever did this year yf wise or token speculation wise for that matter.. I’m locked for a year so I can’t touch this and I won’t! Thanks to Team’s brilliant Tokenomics, there’s no constant selling from small bags reward tokens. And the team behind the project rocks and gaming is the right sector to be so it’s gonna do great!

[wintry yew]

Question, when the weight for the core pools says .2 for ILV and .8 for SLP does that mean that 80% of the revenue goes to SLP and 20% to ILV stakers?

[sonic wolf]

not revenue, staking rewards

[wintry yew]

Right but arent the rewards generated from the money spent on the game? (at least when the game releases)

[copper dawn]

4 million ILV are given as yield over time. As these rewards are handed out, 80% goes into the SLP pool and 20% into the core pool. The 4 million ILV was already allocated at launch.

[wintry yew]

Oh ok so is that different than the APY?

[copper dawn]

Revenue distribution (revdis) is a completely different type of reward to stakers. Revdis doesn't not take pool weight into account.

[wintry yew]

Ohhhh gosh there's so much to learn lol, but that makes sense

[copper dawn]

As written in Staking FAQ:

Frequently, the Vault will buy $ILV from the Sushi $ILV / ETH pool. This $ILV is stored in the Vault and made available for the token holders to claim.*

You can let this accumulate until the value is high enough that you feel it is worth the gas fee. Pool weight is not used for distribution calculations, and instead, the system counts the total number of $ILV per pool and distributes it accordingly. Inside each pool, the token weight and quantity of tokens determine how much of the total $ILV purchase each token holder is entitled to.

*We use the term claim instead of vest because these token distributions are unlocked and do not have to vest.

[sonic wolf]

yeah i was talking about what is going on at this moment

[wintry yew]

Oh ok, so the revenue will be separate from the 4 million tokens distributed as staking rewards, gotcha

[magic plover]

I got ~30 ILV to claim, I should probably start claiming it right? Is every 12 still a decent guideline?

[proper rune]

Hello! someone can tell me why ILV is increasing so much?

[manic spindle]

Only 3M of those are Yield from Staking though. 1M is ingame yield 🙂

[copper dawn]

Revenue distributions is a separate bonus on top of the yield rewards we currently receive. Revdis are given unlocked. Yield rewards have a 12 month lock.

Revdis won't begin until the game launches and the market activates.

[silk meteor]

It depends on how frequent your reward accumulates to 12 tokens I guess

[magic plover]

about 5 days I guess

[tight oyster]

So, if you stake and lock your ILV in the ILV/ETH pool, you will get more RevDis than the ones that have staked and locked ILV on ILV only pool ? I read the documentation but my english is not really good

[wintry yew]

Ah I see. Sorry this is the last question I think. If the weight is not related to the staking rewards, what does the 2x weight give you if you stake for a year?

[woeful stirrup]

question

[copper dawn]

Pool weight does not matter in revdis. No. Only number of tokens and the token weight.

[woeful stirrup]

whyy is it that the Sushi LP staking shows my balance as 0 while the core staking shows my actual ILV balance?

[manic spindle]

Minor correction here: Sales like Land for Minigame or Mystery Sale or whatnot would also create RevDis already 🙂

[rancid fable]

Minimum how much would you say is worth staking with gas fees rn?

[dim wagon]

That gives you weight vs the coins in the pool that are unlocked so higher returns for locking them vs not

[manic spindle]

Very hard to say. I personally wouldn't stake anything below 10+ right now because something like 20-30 GWEI has been seen quite often lately and weekend is usually a bit lower anyway 🙂

[copper dawn]

The x2 you're referring to is the token weight. It has influence over the yield (APY) and the Revdis when they begin.

[rancid fable]

Seems reasonable thanks!! 😁

[wintry yew]

Awesome yea that's what I thought, just confirming

[tight oyster]

That's the thing i don't understand, from the graphics of $ILV Distribution over time, there is a largest proportion of token fro the ones in ILV/ETH pool, so what does that means if this is not the % of Rev distribution?

[copper dawn]

this is true. But these things still have yet to be confirmed.

[copper dawn]

What you see in the graph is only the yield rewards from staking. It doesn't not show any RevDis.

Revenue distributions will be given out after the game launches, or as Stormi said, if we sell land or other mini-game sales. This is a completely different type of reward given to ILV stakers. It will vary depending on how much revenue Illuvium brings in.

[tight oyster]

Oh ok, so RevDis just depend on the amount of ILV your are staking, nothing relative to the way you stake, i feel better because i staked for 12 month in the ILV pool before understand all those thing and was afraid i made wrong choise ^^ Thx Puddles

[copper dawn]

RevDis is affected by token weight, but NOT pool weight. So if you locked at x2 token weight you'll receive higher revdis. It does not matter what pool your tokens are staked in.

You can read more on staking here: https://illuvium.io/staking-faq
and here: https://medium.com/illuvium/28-everything-you-need-to-know-about-staking-ilv-6669594b2fac

[tight oyster]

👍

[wintry yew]

Gosh Puddles for mod @livid lark 👀 @manic spindle

[glad sleet]

ffs why does gas have to be wack. I need to claim. grumble.

[woeful stirrup]

holy.... fuk.... staking is like $100 bucks in gas fee

[manic spindle]

60+ GWEI while easily much higher at times is already pretty expensive yes. Unless you are throwing big bags into staking I would wait a bit.

Weekend often is a bit lower in general 🙂

[woeful stirrup]

and you need to provide to Sushiswap so it's like $150

What's considered a big bag?

[copper dawn]

this is what's making me wait for sunday.

[woeful stirrup]

Friday is supposed to be pretty good too

[copper dawn]

A big bag? @manic spindle you had a scale for shrimp, crab, fish, whale, etc didn't you?

[woeful stirrup]

I am probably a crab. Those tiny ones that you find on the beaches under rocks.

[copper dawn]

😄 I think a crab is considered to be 50-100 ILV

[manic spindle]

Not sure where that is, I don't have it anymore. It was way too high in ILV numbers anyway in my opinion 🙂

[woeful stirrup]

I am shrimp

[vague eagle]

I wait for under 20Gwei, Eth is going to appreciate too. Something to consider.

for a few weeks I was getting it in under 10.. The good 'ol days

[copper dawn]

you were given ownership and you lost it!? It was high. At the time $1million would make you a dolphin.

[manic spindle]

I refused ownership 😛 Also, it probably takes a few seconds to find it via search 🙂

[woeful stirrup]

Friday evenings

[copper dawn]

here it is: #💰〕token message

[woeful stirrup]

a petty fish is a rich fish

damn I am a tiny ass shrimp. The ones you find used for seasoning in KimChi

[copper dawn]

I think this was made when it was at $50/ILV

[woeful stirrup]

ILV got parabolic

I just bought in today at all time Highs

Would rather stake core or sushhi LP?

[copper dawn]

ILV core pool is outperforming so far. We're seeing a gradual increase in ILV / ETH which adds to IL. But if you think we'll maintain a consistent ILV/ETH ratio SLP would be better.

Also, youll be paying double the gas fees in the SLP pool if you stake there. Because of this it's recommended to stake a min of 10+ ILV if you decide to go this way

[woeful stirrup]

so far as in what time period?

[copper dawn]

You can view the IL so far here: https://analytics.sushi.com/pairs/0x6a091a3406e0073c3cd6340122143009adac0eda

keep in mind, it doesn't take take into account any staking rewards.

[woeful stirrup]

right

[elder dawn]

Question on vesting & claiming rewards - I'm currently in the ILV pool and looking to move over to the ILV/ETH pool. Do I need to claim rewards first, then remove from the ILV pool? Or can I just remove after my lock up period expires? I don't want to lose the rewards, but I also don't want to pay for an unnecessary transaction. Thanks!

[cunning perch]

If you have locked your ILV, you will have to wait until the locking is done. Also, claiming rewards, will move them to vesting (lock them for one year after claiming)

[elder dawn]

Thanks @cunning perch - Do I need to do both operations though? I understand I need to wait for the unlock, but can I just unstake at that point, or do I need to claim first?

[cunning perch]

You will have to claim rewards occasionally cuz if you don't, rewards will be sitting there idle and you will never get them. Claiming them will lock them for one year (after you pay the gas for claiming purpose).

[elder dawn]

Got it, thank you.

[cunning perch]

@elder dawn Whenever your lock is done, you can withdraw whatever unlocked stake you have and then you can either sell them or again join SLP (locking it for another year or as long as you see fit). Be advised that withdrawing will revoke your right to receive Revenue and will cause the loss of weight and to get it back (if you wish) you will have to lock your tokens again for one year. Rewards for either pool will always stay locked for one year after claiming.

[abstract comet]

does anyone use a gas alert service? I've found
https://ethgas.watch/
https://cryptocurrencyalerting.com
https://twitter.com/EthGasPrice
Anyone have any experience and know which is best?

[tall pier]

I'm trying to stake ILV. I've connected my Metamask (which has ILV and ETH in it), but when I get to step 4 of the guide, I see a balance of 0.0. Am I missing something?

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

[cunning perch]

did it ask you to approve in step 3?

[tall pier]

Nope, but it does ask to approve if I try to stake in the ILV pool. But I'm trying to stake in the Sushi LP pool. Not really sure what the difference is. I'm a noob at this 🙂 Just looking at the much higher APY haha. Thanks for your help.

[cunning perch]

Have you staked your ETH + ILV in Sushi? You have to do it there first (in the Liquidity section) and then take the SLP token that Sushi gives you, then lock in in the ILV website. That is if you plan on using the ETH/ILV pool. Before doing that, make sure You understand the concept of IL (Impermanent Loss)

[tall pier]

Oh ok, so I stake ILV and ETH at Sushi, get a token from there, and then stake that at Illuvium. I'll check out IL. Thanks!

[cunning perch]

Staking on Sushi requires ILV and ETH in the exact amount (like $10 ILV + $10 ETH)

[tall pier]

gotta keep my Sushi LP's and my Smooth Love Potions straight 🤣

[honest grotto]

If I would like to Unstake my ILV and sell some, am I better to withdraw ILV or SILV?

[cunning perch]

yes. and don't forget the risk of IL. Do it on your own discretion.

[cunning perch]

you can not sell sILV and its use case is only in-game (no use case now as the game is not out yet.) you can not withdraw rewards claimed in ILV as they will all be locked for one year after claiming. IF you lock your original stake, you will have to wait until the locking period is over.

[tall pier]

Is this what you mean by Liquidity Section? https://app.sushi.com/pool

[cunning perch]

https://app.sushi.com/add/ETH

[honest grotto]

Ok thanks. I went for Flexible Staking so if I want to sell some now for ETH I am better to withdraw ILV?

[tall pier]

Thanks

[cunning perch]

if you are in the flexible you can withdraw your ILV and literally do whatever you want with it 🙂 This is based on your plans and your thoughts

[honest grotto]

Thanks

[edgy plank]

Hi guys, I've been reading through the channel for a while and am so appreciative of the amazing help from the moderators. I've read the docs and think I understand the impact of staking on my ILV, but would love to get a confirmation on this scenario.

I stake 20 ILV in the ILV pool, currently at about 100% APY, for 1 yearAfter one year, with my 2.0 rewards multiplier, I accrue an additional 20 ILV, bringing my total to 40. Is this correct?

[cunning perch]

It's not definite as the APY keeps dropping as more people join and more rewards gets staked there. So the amount you end up with is not clear really.

[swift olive]

Have a question about the flexible ILV staking: Is it possible to withdraw e.g. 50% of the ILV that I staked? If yes, how can I do so?

[cunning perch]

I don;t think so. Haven't tried it myself, but if it's the same as the core one, then you will have to unstake all at the same time.

[edgy plank]

Thanks Arash, so the APY is the main driver for how many ILV are generated over the course of the year. How does the 2.0 multiplier factor in then?

does that effectively double the APY?

[cunning perch]

No worries. well it will count your stake as 2X, but the APY will drop and therefore the rewards you get will also drop with it.

[cunning perch]

not the APY, it doubles your stake weight. like you have more ILV.

[edgy plank]

ok cool, so it'll count my stake as 40 ILV then, and the APY will drop from 100 but will effectly be on 40 instead of 20

[swift olive]

Thanks. This is done in the Vesting section, is that correct?

[cunning perch]

yeah, but expect dropps to waaaay lower levels as all the rewards go there eventually. so in three years it might be a single digit. but that depends how many more poeple will join and how many people will leave.

[cunning perch]

yeah. any unstaking/withdrawing will be done through the vesting section

[edgy plank]

totally understand, but at an absolute minimum, if I staked 20 ILV for 1 year, I'll have 40 ILV at the end of that year (before claiming/vesting/etc.).

And theoretically, (which this won't happen), if the APY remained at 100%, that 40 ILV would be doubled to 80 ILV, correct?

[cunning perch]

There is no absolut there really. every fortnight (2 weeks) the APY drops. so even now, ecpect it to be way lower from now until one year

[azure jewel]

What does weight mean in terms of staking?

[cunning perch]

like u stake 1 ILV for one year, It'll count as 2.

@edgy plank at the begining of staking (July 1st) the APY was +300%. in one month it is at 100%

[azure jewel]

so if you have locked funds for 21 weeks at a 1.4 weight, if you do not manually withdraw it once it becomes unlocked and leave it in for a year it would be at a 2 weight?

[cunning perch]

no. it will always stay at that weight unless you withdraw and again lock it for one year. You get the weight exactly based on the period you lock it for

[edgy plank]

Right, totally get that the APY will drop. Just trying to understand the 2x weighting better. So in the hypothetical scenario of a fixed APY of 50% (which is likely much higher than it will be in a year, but go with me). If I start with 20 ILV, lock it for a year with 50% APY, I'd end up with 40 ILV * .5 = 60 ILV?

sorry, feel like a bonehead here

[cunning perch]

yes. hypothetically, but as I said, no absolute here.

[tall pier]

So the weight is locked in when you stake a given number of ILV, but the APY for that same amount of staked ILV can (and probably will) change over the course of time that it's staked?

[cunning perch]

I believe in terms of math @final steppe can help you better

[edgy plank]

cool, thanks so much Arash! @final steppe if you're able to double check the math on my scenario above, would love your thoughts. Thanks guys!

[final steppe]

This is correct (in this hypothetical situation where the APY is fixed). The stake/lock for 1 year is giving you the token weight of 2.0 which is what is giving you the 100% APY in this scenario.

If you did not lock your tokens for that year, and chose flexible instead, your token weight would be 1.0 and your APY would only be 50% and final tokens before any sort of claiming/vesting would only be 30.

[shut grove]

question on the flexible staking;
say i have 10 ILV staked and the APY is 130% (fixed, to make the example easy) and it is calculated every 2 weeks, coinciding with the APY dropping... is it just 10ILV +(1.3/26)? = 10.05
or am i horribly misremembering high school math? 😅

and it disregards weight, since you forgo that to have it flexible

[cunning perch]

@edgy plank I was expecting a longer answer but you got your confirmation 😁 still, no absolute. There will always be more/less

[final steppe]

Hahah, I did have to add to it 😛

[final steppe]

This is true. The APY is not fixed or locked in at the amount you see when you first stake your tokens.

[cunning perch]

Haha I see. 😁 thx Bro. Gotta sleep. I leave it to your capable hands 😉

[tall pier]

Thanks! So let's say I stake 1 ILV and 0.1 ETH with Sushiswap. THen I take that token and stake at Illuvium for 52 weeks at a 2.0 weight and current APY of 500% (just to deal with round numbers). Let's say after 52 weeks, I decide to pull out of the pools. At that point, 1 ILV is worth 10 ETH, and the APY has dropped to 100%. Is that a plausible scenario? And how do I figure out what I end up with?

[jolly ridge]

Are most of you doing flexible or locked staking? and for how long?

[sharp shell]

So what should I be doing to increase my in game currency now?

[shut grove]

most people (i can only speak from what i've seen people say) have been holding off getting sILV, as it's only used in game, and opting to get ILV instead

[edgy plank]

Thank you!! Super helpful

[shut grove]

but, staking will allow you to get sILV or ILV (sILV being the in game currency)

[sharp shell]

I've definitely been enjoying my illuvium going up. I guess my concerns are... how best to swap that to get me ready for playing when it's released

Core pools give ILV and flash pools give sILV?

[shut grove]

someone more knowledgeable will have to help, because i've only been lurking for a day or so 😛 but i think you can choose either reward from the core pools, not certain about the flash pools.

[sharp shell]

Hmm. Yeah I guess I gotta decide which reward I want. I'm also curious how to get accepted into the beta on here XD

[shut grove]

you can just request it in the #795444126421483520 , and they'll be sending forms and such out soon

[sharp shell]

Thanks ^.^

[final steppe]

Ahh, Liquidity Providing is a bit new to me, I will admit. That's a very plausible scenario haha BUT I will say your last question is one that I have as well! 😅 Many factors involved given how much the APY will fluctuate over time

[shut grove]

do you know if the flexible just uses a compound interest formula that compounds bi monthly? (in line with the change of the APY)?

with gas as it is though... won't be staking for a bit anyway lol. might as well try and figure out how it all works 😛

[final steppe]

Hey-- well the main in-game currency to pay for fees and transactions is going to be ETH.
So to prepare, you could start saving up ETH now.
But like Rycros was saying, another option is to claim sILV rewards from your stake as the sILV can be used instead of ETH to pay for fees in game 🙂

[sharp shell]

Good option mate. I've got an okay amount staked right now, as I don't really see ILV going down. Too many people with diamond hands right now. Suppose I might take the sILV rewards as I'd love to boost my play to earn

[tall pier]

Haha the learning continues 😃 So it sounds like staking the SLP way has much more complicated math than just staking straight ILV. Is that right? And thanks for all the help.

[open spear]

Is it possible when calming rewards to only claim SLP and leave ILV rewards?

[sharp shell]

@open spear I think when you take your rewards from staked ILV you choose one or the other

But I'm not sure with sILV staked. Only the options I see with ILV staking

[open spear]

Is there a way I can just claim rewards from SLP?

[mint cave]

unfortunately no, due to the contract interactions you must claim both pools when claiming SUSHI LP

[final steppe]

It's a bit more complicated, yeah. But really its the variable APY% being thrown in makes it pretty unpredictable haha

[open spear]

Thanks

[tall pier]

Thanks!

[final steppe]

No prob. Looking at the hypothetical scenario you gave, it looks like ILV outperformed ETH by a crap ton. So when you go to withdraw the initial liquidity you provided to Sushi, you're going to have mostly ETH... if you have any ILV at all left due to IL. So then it just depends on that APY% throughout the year and whether the ILV rewards you claimed make up for the ILV you lost

[sage mortar]

Hi. I am considering staking ILV and ETH. Is there a specific ratio that there has to be? Can I stake 100 ILV and 1 ETH?

[shut grove]

it just has to be monetarily equal, from what i understand. correct me if i'm wrong anyone

[exotic igloo]

50:50 in usd value

[sage mortar]

Do I have to add if the ILV / ETH value ratio changes?

[exotic igloo]

No

You suffer impermanent loss

[sonic wolf]

I would wait if I were you. Those rewards give you an extra 2.25$ per day, while claiming gonna cost you shitton of money

[hoary yacht]

What would you recommend staking full amount of 35 ILV or just part and is core pool safer to go for?

Really want to start staking but so confused

[open spear]

Yeah thanks I am going to wait. What would you wait for 10 ILV?

[sonic wolf]

at 4 gwei you can do 1 ILV, at 12 gwei 4-5, 20 gwei 10-14 40 gwei 25->

[fresh pelican]

what split into ILv and ilv/eth is the best

[mental tangle]

Yes

(There is no best. It's a personal decision)

[mint cave]

there is no "best"

it is up to your personal risk tolerance and how YOU think the future will play out

[fresh pelican]

kk

[drowsy wigeon]

im still trying to wrap my head around impermanent loss -.- would there be a scenario where i lose more than i earn ?

[fresh pelican]

is there more information about impermanent loss^ don't completely understand that

[mint cave]

https://docs.uniswap.org/protocol/V2/concepts/advanced-topics/understanding-returns

chart at the bottom helps to visualize

[mental tangle]

https://tenor.com/view/illuvium-ilv-illuviumio-yield-farming-yield-farm-gif-22324807

This is the only chart I need

[mint cave]

and a calculator to demonstrate it with your own input as well

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

*where one token is ETH and the other ILV

[drowsy wigeon]

ouhhh thanks ill take a look

[winged heath]

anyone got the ILV apy chart/graph?

[mint cave]

https://miro.medium.com/max/1400/1*wzkm2sg6PJZD-X-oowsQ0Q.png

that?

[brisk surge]

MAD APY

i love looking at that chart

[fresh pelican]

what is the gas fees based on

[mint cave]

the current, overall* usage of the ethereum network

[shut grove]

when it comes to fixed staking, are you able to back out further down the line?

[brisk surge]

if you lock your stake you cannot unstake it until the lock is up

[shut grove]

i'm assuming no, that's why the flexible is an option, but just wanted to confirm. and ty for the affirmation

[elder dawn]

For folks asking about how impermanent loss works, I recommend the video below. The goal of the staking benefits is to offset this by providing incentivized (vesting) ILV. For me, if the worst thing that happens is I get more ETH at the end of my lock up period, I'm okay with that trade-off. https://www.youtube.com/watch?v=8XJ1MSTEuU0

[magic laurel]

for people staking 100 or less dollars is there one option over the other that would be beneficial or is it just the same process but with a smaller amount

[fresh pelican]

my gas fee to transfer eth to ilv is 43 usd. is that normal

[arctic rivet]

it is very high at the moment....

[mint cave]

with a low amount of USD i suggest sticking to the ILV single pool, less overall fees when you claim

[fresh pelican]

do u thnk it willdrop?

[arctic rivet]

https://www.gasnow.org/ is a good site to look at historically when gas is lower

[mint cave]

the gas price fluctuates and is generally unpredictable

you can use https://www.gasnow.org/ to look at current, trending, and historical gas prices

[magic laurel]

give it a couple days

[arctic rivet]

but the market is 'hot' at the moment, lots of people buying NFTs etc so this drives gas price up

[rapid anvil]

If I claim silv

Will I be taxed from it from the government . Since it’s in game currency

[vague thistle]

what's weird is that gasnow.org says it's like $13avg swap price, but MM shows $40

[mental tangle]

@pastel blade
Yes you will still be able to control your stake once the game is out.
Yield farm is ~3 years I believe check out the white paper 👍 #🔗〕helpful-links

[vague thistle]

what do you think the ILV APY will be like after 1 year?

[sharp rover]

It’s hard to tell because it depends on how many people are in the pool. But it will drop significantly as people claiming their sILV gets added to the pool every day

[pastel blade]

thanks for this ill take time to read weekend life

[vague thistle]

can you explain how claiming sILV puts token back into the pool?

[shut grove]

when you claim ILV from your stake, is there an easy way to put it directly back in to your stake? or.. am i missing a part of how it works?

[fresh pelican]

what is the normal fee to add liquidity. mine is showoing 40 aud to create ilv/eth

[arctic rivet]

the fee is related to gas price, which is high right now, i tried to stake $5 (different token) and the gas fee was $40 😆

[sharp rover]

Yeah so see how there’s $164m in the TVL for the ILV pool? If I were to claim my 9.42 ILV right now, that would be added to the $164M pool adding around $3,000. When I add my $3,000 everyone else already in the pool will get a very slightly smaller output of ILV tokens per week as there’s a set amount of tokens given out to stalkers based on their percentage of the total pool. My $3,000 won’t make a big difference but when you have thousands claiming their ILV rewards a week it will add up. Still 100% worth it IMO to stake though

[fresh pelican]

whats average gas fee to convert to slp

[mint cave]

when you claim ILV from your stake, it automatically is staked for 12 months and adds to your compounding effect

[shut grove]

ah, gotcha. ty for the answer :]

[mental tangle]

The white paper is really good. Also take the time to scroll through #🚰〕leaks

Here's a staking FAQ:
https://www.illuvium.io/staking-faq

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

[vague thistle]

oh a claim adds it back to the pool and is held there for a year? And as the pool grows, the participants grow (well the supply) thus pushing down your cut of the distribution, thus lower APY. Is that about right?

[pastel blade]

btw im not pro or anything but my 1token is good or should i add more

[mental tangle]

Yes

[mental tangle]

It's all good. Just make sure it's worth the gas to you. Sunday is cheaper gas typically.

If you put 1 coin in and get 1 back in rewards over a year.... That's still double your investment.... Not bad.
Apy always changes though 🤷‍♂️

[magic laurel]

mroe is always better

[pastel blade]

affermative additional token coming up HAHAHAH

[burnt ginkgo]

do you need to be online to keep staking?

[magic laurel]

nope just let it sit

[waxen vigil]

It's just like with the stock market. If you don't look at it, it won't go up.

[burnt ginkgo]

🤣 🤣 🤣 🤣

I mean there's a type of staking where u need to have a node

[weary walrus]

ow

[gritty sparrow]

how much would my 0.65 ILV stake earn for a fixed 12 months?

[winged heath]

is the rewards im getting for staking SLP linear or exponential growth?

[burnt ginkgo]

so if i stake 10 Sushi LP, how much money would that be?

[mint cave]

if the APY stayed at 100% all year and you never claimed within that period, you would get 0.65 ILV over the course of a year

obviously the APY will fluctuate and you may claim, which will change how much you would get

i believe so yes, as when you are on sushiswap looking at liquidity, it is getting that value from the SLP tokens in your wallet. which they no longer are, when staked

[fresh pelican]

how do you calcualte slp

[mint cave]

the value of 1 LP token = (total value of liquidity pool/circulating supply of LP tokens)

[uneven falcon]

@sly spoke depends how long you plan to hold... if this is long term then lock in for 12 months... if not then dont lock in... but id recommend to stake

[sly spoke]

thanks for answer! I don't quite understand what the gain could be. Is there an easy way to calculate it? I bought yesterday (at 300$) 1.500$ of ILV

[uneven falcon]

if you lock in for 12 months at the moment you will receive $1500 over the 12 months

but thats subject to change as the APY comes down... if you plan to hold its a no loss situation

[sly spoke]

I don't understand hahah I'm already watching videos

[sly spoke]

when you say APY, its the estimated revenue?

[spiral flame]

its a 100% gain. you just double your investment (if apy remains at 100%)

[sly spoke]

but, if the token goes down, im fucked, thats the risk, right?

[spiral flame]

IF

[sly spoke]

i hhave plenty trust on this, just saw 1:30 min video an invested 1.5k so, ill do the stake 😄

[spiral flame]

every investment has risks

[sly spoke]

12 months its the best idea, right?

[spiral flame]

It's really up to you. 😅

[uneven falcon]

only if you arent worried about selling within the next 12 months

[sly spoke]

thanks for answer, i love how this community works!

Is there an important date that will happen before the next 12 months? a beta or something?

[spiral flame]

https://tenor.com/view/no-idea-you-have-no-idea-gif-13406460

[spiral flame]

Q4 of 2021 is the target date for releasing the full game in open beta

[sly spoke]

so should be a good idea to have the money available for that date

im alright?

[spiral flame]

game will be f2p. But you should invest a little bit of eth if you want to optimize the p2e feature.

for travelling, shard curing, etc.

[sly spoke]

thanks bro!

i hope to see you again being millonaries 💌

[gloomy gazelle]

Nah you can earn rewards that can be used in the game. Additionally once the game drops your staked ilv will earn revenue distributions

sILV will be able to pay for in game actions. It just won’t buy you someone else’s NFT

And who cares if it doesn’t. Go out and capture your own.

[sly spoke]

https://tenor.com/view/clapping-leonardo-dicaprio-leo-dicaprio-gif-10584134

[stuck lichen]

Welcome to the family! 🤍

[astral zodiac]

https://tenor.com/view/clapping-happy-will-smith-overwhelmed-gif-5860321

[onyx isle]

hey guys, been staking illuvium for a while, but new here. whens the best time people have found to harvest there single sided staking rewards. been checking frequently but gee wizz its exspensive!

[sly spoke]

since there are the big minds of this: what do you think about the nft? are worth?

[stuck lichen]

Recommended to claim rewards when the rewards can be staked for a profit that covers the cost of gas. If claiming doesn’t outweigh costs , there’s 0 point. NFA

[stuck lichen]

Depends what your version of “worth” is. To gain money? No one can really say for sure, it’s speculation from here. Gotta make the decision yourself c: if it’s something you like the look of? Then by all means buy one if that’ll make u happy!

[native delta]

Is there anyway to avoid high gas fees while claiming staking rewards?

[stuck lichen]

With patience my friend. Gotta wait for it to come down. https://etherscan.io/gastracker#historicaldata

[jagged spindle]

question if we staked said amount of ETH and ILV do we get it back at the amount we paid for it?

[mint cave]

no, read about impermanent loss here:

https://docs.uniswap.org/protocol/V2/concepts/advanced-topics/understanding-returns

[jagged spindle]

Dang so were just hoping we get way more ILV out of it than we lose ?

[brisk surge]

yeah

[jagged spindle]

will ETH still be worth the same when we pull out though?

[brisk surge]

To my understanding, with ILV continuing to outperform ETH you will receive more ETH and less ILV than you put in. So you'll still get a ratio of both assets when you pull it out, however that ratio will most likely be weighted heavier in Eth

[jagged spindle]

ok makes sense thank you! I'm almost to 1 full ILV from staking 😄

[fresh pelican]

what does it mean by your ILV rewards are compounding while it's vesting
does that mean, during the 12 month vesting period, your rewards are increasing exponentially?

[gloomy gazelle]

Once they are vested they are earning more rewards like you initial deposit.

[fresh pelican]

o right. But what if you only vest after you lockin period of the intial stake is over. And you dont restake

[gloomy gazelle]

Say you deposited 10 ilv locked 12 months. Then after 1 month of staking you have earned and claim/vest 1 ilv. Then you have 11ilv in the pool and are earning more based on your increased amount in the pool

[fresh pelican]

o kk that makes sense.

[cold flint]

Will my unclaimed ILV reward be earning as if it was vested or do I have to claim my ILV (which locks it in automatically) to have it earn?

[gloomy gazelle]

You could do it that way. Buy you don’t have to.

[onyx isle]

oh my rewards far out way the gas, its like 25 ilv. i want to harvest once a week and want to start getting lower gas as it adds up.... has anyone got and info on when they find the lowest gas periods ?

[gloomy gazelle]

You must claim them for them to start earning

[cold flint]

Copy that!

[gloomy gazelle]

The weekend

[fresh pelican]

and does the 1 ilv you claimed/vested immediately add onto the intial 10 ilv to make it 11 ilv, or does it only add in the pool after the 12 month vesting period

[gloomy gazelle]

https://etherscan.io/gastracker#historicaldata

[onyx isle]

i did think that but just checked and its high lol i stake over 3 wallets too lol

[gloomy gazelle]

The weekend in the US. I guess

[onyx isle]

ahhhhhh

[gloomy gazelle]

Wait 12 hours maybe

The linked site is very helpful

[onyx isle]

etherscan ?

costing me like $50 every time im harvesting

[gloomy gazelle]

It is not technically added to the previous one. It is it’s own separate vesting batch. But it does start earning rewards immediately

[mighty onyx]

Hello, I am totally new on this, I was trying to get some ILV and stak them. The only way of doing it is on the main Ethereum network?

[gloomy gazelle]

Well the higher your reward amount the more complex the transaction I believe.

[gloomy gazelle]

Correct

!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

[onyx isle]

oh thats right forgot about 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

[gloomy gazelle]

Check pins for some great info. I’ve gotta go for awhile.

[mighty onyx]

I allready have the Ethereum on my metamask, but the cost to stak is like 50 usd.

[gloomy gazelle]

Yeah I’d say wait for gwei price to go down.

[mighty onyx]

Sorry, whats gwei? (I started today with crypto.)

[gloomy gazelle]

It’s the price of the variable cost of transactions on the ethereum network

[elder dawn]

Gwei is the price of gas (essentially transaction fees on ethereum). A more useful number is the cost of a transaction such as shown here https://etherscan.io/gastracker#historicaldata On the left side, you can see an estimated cost of a transaction on Uniswap (similar to Sushiswap) for swapping tokens or adding liquidity. Right now, its about $7 to transfer tokens, $20 to swap tokens (trade ETH for ILV), or $19 to add liquidity to the LP

[mighty onyx]

Its always this high?

[gloomy gazelle]

No

It’s Variable

Supply and demand basically

[elder dawn]

its been high for a few days, though it is going down this evening. its higher when demand (transactions) are high. Typically it is lower on the weekends. I'm waiting to make some transactions later tonight, just my personal historical observations

[gloomy gazelle]

Mine too

[fresh pelican]

how much are the vesting fees usually?

[ruby wing]

Depends on gas mate

for example, if you are staking in the single asset pool

[fresh pelican]

ye like on average though. ik its really high atm

[ruby wing]

and you have 40 Gwei it is like 13$ ish

on average I would say about this tbh

low is 5-10 Gwei

[winged heath]

is vesting legit just like another 12 month staking period?

[ruby wing]

Kinda but it is only in the Single asset pool at a 2X weight

even if my rewards are from the liquidity I provided to sushi was only locked for 6 months

[winged heath]

wait its at a 2x weight no matter how long i locked in for during the inital stake?

[ruby wing]

Ya ur rewards compound at 2X when you claim as ILV over the 12 months

so its compounding at 100% for right now

But ur initial amount is still the same weight based on what you lock

[winged heath]

ok thanks

[mighty onyx]

How much is on USD?

[ruby wing]

like 5$

2.50-5$ is low IMO

[modern comet]

can it work if the gas fee is that cheap? because it is so low ?

for now 47gwei about 20$ more

[elder dawn]

not right now - gas/transaction fees are supply/demand. Currently, demand is high, so the cost is higher.

[ruby wing]

^^ this

[modern comet]

I hope it goes down quickly, because right now the gas cost is very high

[gloomy gazelle]

This is high but not very high. It was up at 600 gwei for a bit yesterday I think it was.

Sometimes it gets stupid thanks to certain NFT drops.

[honest wraith]

Last night at about 3 hours ahead of now I was finally able to get a decent gas fee to transfer stuff and stake for the first time

So it was like 12am PST

[elder dawn]

Fingers crossed. I'm watching it. Can't believe its still in the 40s this late on a Friday night.

[honest wraith]

For real, it’s pretty nuts

[woeful stirrup]

yea wtf gas is still so high

[lapis lark]

so after using the calc, it tells me i can claim after 76 hours. Is it alright to stake what I claimed?

[gloomy gazelle]

When you claim ILV it automatically is staked

When you claim sILV it goes to your wallet and it cannot be staked. sILV will Just be used in the game.

[inland cradle]

sorry but where is the calc

[gloomy gazelle]

It’s pinned in here

Joe made it

It’s interesting

[inland cradle]

oh okay thanks

[wise epoch]

When we are staking, do we need to manual compound to get interest in our rewards or they compound automaticly?

[junior shuttle]

You need to do it manually

[gloomy gazelle]

Yes and no. It only takes one transaction to compound your rewards earned to date. When you claim it it starts vesting and earning. Just one transaction. No need to restake it. That gets done automatically

[hallow siren]

why does it says on rewards that sILV are unlocked yet the button is greyed out, not going to claim, just wondering .(I staked 5 ILV for 18 weeks).

[cosmic trellis]

For me the claim buttons are both greyed out for some reason

[ruby wing]

might not have enough to claim yet

[cosmic trellis]

What's the minimum amount?

[wise epoch]

Also, I have Sushi LP staked, when I get my rewards so they are staked again automaticly, it always asks me to make 2 confirmations, is that for everyone?

[cunning perch]

Yes might not have enough in your rewards. it should be at least a lot more than the gas you're gonna pay for claiming them @hallow siren

[exotic igloo]

Yes you need to claim the SLP pool rewards and it claims both pool rewards while doing so

[wise epoch]

Can we accept one and reject the other one?

[exotic igloo]

No.

#🥩〕staking message

[hallow siren]

Thanks, just staked so that makes sense.

[mighty onyx]

Its gas fee still high?

[rapid anvil]

Yea

I got like 1300$ worth of ILV sitting there ready to be claimed 😣

[junior shuttle]

same, just waiting on gas fees to settle down lol

[pastel jetty]

when I click on "claim", do I need to authorize the tx on MetaMask? and then I can see how much I'll be paying for gas? or once I click claim it gets reduced from my ILV-reward?

[junior shuttle]

@pastel jetty the first one

[pastel jetty]

thank you!

[woeful stirrup]

how long do you think we have to wait... the fees are ridiculous

[brisk surge]

anyone mind helping me i got some ilv i wanna stake
whats the best way to stake and what does it do in long run someone break down in dumb dumb terms what ilv staking is vs ilv/eth staking?

[exotic igloo]

https://staking.illuvium.io/

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

[silent spire]

I need this math 😄 I am about to do my first claim. $879 in 35 gas?

[blazing harbor]

Hello guys, I started staking in the ilv/eth pool, so if I understand it right, I can compound the interest that generates from that pool or? To do so, I need to claim the ilv Rewards one time and then it compounds automatically with the new ilv generated through the pool? Does it matter if I claim sILV oder ILV?

[dark bear]

I only have 0.27 ILV in rewards from SLP, when should I claim?

[stuck lichen]

When compounding it will gross more than leaving it alone (taking gas into account)

[dark bear]

So basically when gas is lower than the amount of ilv I will be claiming?

[stuck lichen]

Yes, otherwise, what’s the point? 🙂 gotta think about its APY too

[blazing harbor]

Sorry my english isnt the best 😅 With "gross" you mean the APY will even more increase or?

[dark bear]

Right now the 0.27 is worth $88, I'm gonna wait until gas goes back down to $10-$15

[stuck lichen]

By gross I meant to say increase

[stuck lichen]

Right now, I personally wouldn’t claim yet. It’s up to you though 🙂

[dark bear]

When would you?

[blazing harbor]

Thanks for the information Mltz! Just one more question. I started yesterday staking in the ILV/ETH Pool. Would you recommend to claim my first rewards now, so the future rewards that get generated will compound automatically? Although the gas fee could be more expensive than the rewards itself, but if I got it right, once I claimed the rewards they compound in the future.

[stuck lichen]

Let’s say I have 0.20 ILV in stake and for this case that equals we’ll say $80, gas fees end up $40. So now I’m gonna use $40 to compound my remaining $40. Is that worth it?

Paying $40 to stake $40?? Or is it better to wait until I have $200 of ILV to claim. Claim that and pay a fee of $40, resulting in 160 for staking. You see that the first 40/40 is paying 50%. The second is paying %20

[blazing harbor]

Ah okey that means, I have to claim the rewards and then stake it into the ILV Pool or?

[dark bear]

That's smart, yeah I wouldn't claim now just cause the fees are high. I'm going to do similar and wait until gas fees are lower and then claim.

[stuck lichen]

You can stake directly onto the pool and it will claim all current rewards.

[stuck lichen]

I think you get it 🙂 good plan imo

[dark bear]

Thank you for your help!

[stuck lichen]

No worries! 🙂 Best of luck!

[blazing harbor]

Okey but the rewards that I dont claimed from the ILV/ETH Pool dont stake automatically, I have to claim them and then stake them into the ILV pool manually right?

[stuck lichen]

Rewards won’t automatically claim /stake, no. You must do it yourself

[blazing harbor]

Ok thanks for your help!

[kindred garnet]

Claiming rewards vests them into the ilv pool automatically

[blazing harbor]

So everytime I claim ILV it gets automatically into the stake pool

[kindred garnet]

Yes 👍

[blazing harbor]

Got it, thanks 👍

just one question more haha, does it matter if I claim sILV oder ILV?

[kindred garnet]

sILV is intended for paying for actions in game when it launches

it can't be used for staking

[blazing harbor]

Okey thanks, that was my question

[manic spindle]

sILV is a substitute currency that can be gained as yield when staking ILV. In game, it can be used to pay for any fee (excluding IlluviDEX trades and Leviathan Arena wagers) that otherwise would be paid for with the main currency ETH.

While claimed staking rewards in the form of ILV are locked for 12 months, sILV offers the opportunity to liquidate your staking rewards immediately. The tradeoff for that is that sILV only can be used in-game and does not provide compounding in any form.

[woeful stirrup]

Why are gas fees so highhhhh...

[austere cliff]

If we have staked in both the ILV and SLP pool, the rewards are split right? So does that mean when we restake the rewards we will have to pay gas fees for both individually? or is it combined?

[woeful stirrup]

I think it's autorestaked. But maybe someone else can confirm

[manic spindle]

When claiming ILV as rewards they are always automatically also staked in the ILV pool with a weight of 2.0 and locked for 12 months 🙂

[austere cliff]

But it incurs gas to claim rewards I assume? So means if its two separate pools, so gas will be charged on each pool? For example, if i get 0.5 ILV from ILV pool and 1.5 ILV from SLP pool, the gas will be charged twice or just once?

[manic spindle]

When claiming rewards from ILV pool, this can be done alone. When claiming rewards from LP pool it always claims both pools.

[full sedge]

Hey Stormi, when all the team/seed tokens get unlocked in March, and let’s just say they all decide to HODL, the APY % is going to drop like crazy right?

[shadow wren]

@manic spindle hello fren, I just bit the bullet and paid like $80 gas fees to claim both ILV and SLP pools. Question: is there any way to just claim the SLP pool rewards without also being forced to do a separate ILV pool rewards claim transaction?

[manic spindle]

If they stake them regularly as they unlock, then most likely, yes 🙂

[shadow wren]

Because at least in my case the ILV rewards are much lower than my SLP rewards and i'd rather they just sit there/I claim them less often than SLP.

[manic spindle]

Right now, this is not the case, no. LP requires both pools to be claimed. There are reasons for that in the coding that partially are there to reduce gas fees in the first place. I cannot comment on the detailed particulars of the code though, sorry 🙂

[shadow wren]

Ok, roger that, thanks! Maybe I'll just wait a little longer between claims. Any resource for optimal compounding in this dual pool/dual APR setup?

I waited until 15 ILV in SLP perhaps I should wait until like 20 or something.

[full sedge]

lets just say they do stake them regularly as they unlock. so SLP pool will drop from 600% APY to like 200% APY, is this a realistic hypothetical ?

[manic spindle]

There is a claim calculator in the pinned messages I think. I don't use it though so I cannot account for it's accuracy 🙂

[shadow wren]

Certainly dilution will occur if they choose to stake in the SLP.

[manic spindle]

Impossible to predict, sorry. It really is. There are a TON of individual variables when it comes to APY in 7+ months from here 🙂

[full sedge]

i only staked SLP recently, when did the APY actually drop below 800% APY ?

[full sedge]

wait could you elaborate ?

[urban verge]

Will we be able to sell sILV eventually?

[woeful stirrup]

you can spend it in game

[shadow wren]

Sure, rewards are dolled out based on what percentage of the pool you own. If more people add SLP to the pool, your % share decreases, and therefore your share of the emitted rewards, decreasing APR.

The two things that affect APR are price action of the involved tokens and your share of emitted rewards.

[woeful stirrup]

don't expect to get anything near 600% for the SLP. There will be a lot of impermanent loss if you think ILV is going up.

[shadow wren]

IL on the way up just = less gains. Less painful than IL on the way down! Lol

[full sedge]

thanks bro

[shadow wren]

But remember the IL will only affect the portion of ILV you have in the staked SLP. All rewards in the ILV solo pool will not incur impermanent loss.

[full sedge]

yeah but the amount of ILV I can yield from the SLP will outweigh the IL

[woeful stirrup]

hard to say I think someone shared a graph of last 3 months or sooomhing and it underperformed by quite a bit.

[shadow wren]

All ILV rewards are put into the solo pool and are not subject to IL.

[woeful stirrup]

I think if you looked at just the last 2 months, you would have been much better off just buying ILV than splitting half with ETH and staking it.

[woeful stirrup]

Because they're staked in core

[shadow wren]

This is probably true over the last 2 months because ILV has 10x. Yes.

But good like timing/predicting all that. Hindsight always 20/20.

[woeful stirrup]

yea true

You basically lose half you pot if it 10x

[full sedge]

I staked at 230$ ILV

[woeful stirrup]

well not really lose but make lesssss an you would of I guess

[shadow wren]

Compared to HODL but you would have had to have predicted the future and known that it was going to 10x.

[woeful stirrup]

most people in here think it's going to go up a lot and also the LP if you locking it for long-term the current rate is going to be diluted so gotta keep that in mind as well.

[full sedge]

Even if I lose half my pot if it 10x, I’m still yielding way more ILV though, which makes up for the IL, isn’t this correct?

[tacit cedar]

Yup, exactly

[woeful stirrup]

it's not actually going to be like 600% over 12 months

[woeful stirrup]

Well not compared to if you staked in core because you'll be like 20x

[stuck lichen]

Many variables to account for, it’s all speculation

[full sedge]

Let’s just say average 400% APY, that’s still more than enough to cover a 10x ilv price jump

[woeful stirrup]

plus you spliting your funds half into ETH rather than ILV.

[woeful stirrup]

You wouldn't lose money. You would just make a lot less than if you staked in core in that scenerio. But @stuck lichen is right. Too many variables to speculate really. No one really knows.

[shadow wren]

Yes. If you're worried, just split it 50/50, buy some ILV with one half and stake solo (no IL), and buy some SLP with the other half and enjoy that sweet 600% while it lasts lol!

[woeful stirrup]

To give you an example. I staked SPEC - USDT which paid 3500% APY a month ago. I actually lost money until a week ago.

[full sedge]

I won’t be able to yield as much in core though, which in turn means I make less

[shadow wren]

Both the solo pool and SLP are "core".

[woeful stirrup]

the APY in a month went from 3500% to right now likkke 700%.

[full sedge]

I went all in SLP man lol

[shadow wren]

Yeah me too. So far for me IVL 2.5x but ETH up as well ... but I'm fine with it, earning lots of ILV that gets staked on solo side with no IL exposure.

[full sedge]

Yeah that’s what I was thinking, just max out the ILV yielding, which will outweigh the IL anyway

[viscid ferry]

Hi.. newbie here.. May I know after purchasing ILV from Gate.io.. What are the following steps I need to do in order to stack ILV?

[shadow wren]

Transfer ILV to your private wallet, then stake directly in solo pool on Illuvium website.

Or pair that ILV with equal $ amount ETH, add liquidity to ETH-ILV pool on sushiswap, receive SLP, and stake that on Illuvium site. See pinned messages for more.

[viscid ferry]

Thanks.. Do you know if I need to reserve some ETH to pay for gas when transferring ILV from Gate.io to my private wallet?

[shadow wren]

Always keep at least $200 ETH in your wallet for gas expenditures of any kind...!

[ruby topaz]

Hi. Another newbie here. I just bought 2 ILV. Might buy a few more before I stake to make the gas fees worthwhile lol.

Need some advice or suggestion.

1. How long do most of your stake? Do you go for higher return over 52 weeks or flexibility at lower return?
2. Let’s say if I stake 2 months. Do I need to keep paying gas fees when I want to restake or as long as I don’t withdraw it will just keep restaking every 2 months without incurring gas fees?
3. Is there a good reason to stake SLP other than the high return? I just feel the return might drop over a period of time. And if I do decide to also stake some SLP, what is the time period you choose?

Sorry for all the questions. I’m also very new to crypto in general. After watching videos I’m still a bit unsure exactly how the tokenomics for ilv works but can see great potential in this. Thanks in advance for the help!

[shadow wren]

1. Up to you. 2. You need to manually claim, which "restakes" the rewards automatically, and this costs gas. 3. If you want exposure to ETH as well as ILV SLP can be good (subject to impermanent loss risk however).

[opaque coral]

Does impermament loss occur when the ratio of Ilv/eth changes like 2x or smth or do individual changes make a difference?

[obtuse galleon]

How does compounding works?

[silent spire]

1. I just staked a week ago for 1 year SLP staking. Before that, I staked flexible for a day. Everything about this project checks out; how founders only get their return if this goes big, how investor are getting their return, how the development is going. So, I am all in.
2. Your principle will be staked at the same growth rate(x2 when you do 12 months) until you un-stake them, also you can withdraw anytime you want after that time. To gain more yield, you need to claim your rewards. When you claim your rewards, it will be automatically staked for a year.
3. Opinion: I staked SLP 12 months. My reasoning is that at ~640% I will be basically doubling my principle in ILV rewards every 2 months. Surely it will decrease over time (~2/3% per week) but I will already have enough ILV rewards to care about my principle in few months. Also, my rewards ILV will be earning more rewards when claimed, so it is more than ~640%. It is long game my friend 😄

[silent spire]

After you stake and start earning rewards, you can claim them. When you claim the rewards, it is automatically staked for 1 year in ILV core. So, hence the compound interest.

[obtuse galleon]

But there is gas fee if you claim the rewards right?

[silent spire]

Right. Everytime you claim, there is a gas fee. So, always make sure the gas fee is low and your reward is substantial enough to justify the gas fee.

[obtuse galleon]

Okay I'll keep that in mind. Thanks for answering mah questions.

[silent spire]

Anytime. Happy staking 🙂

[ruby topaz]

@shadow wren @silent spire ok. Thank you so much for the info and @silent spire for your opinion. Very helpful. Most likely will go for slp but it means I need more eth hahaha. Will also do more research on impermanent loss but it seems like the concept is similar to opportunity cost against what u might earn from just hodling. I might be wrong though haha.

[noble haven]

When did the staking site launch ?

[cunning perch]

July 1st

[noble haven]

Nice thanks

[wooden jacinth]

Is there any financial incentive to redeeming silv? Does that allow you to buy in game nfts which you could then sell?

[manic spindle]

sILV is a substitute currency that can be gained as yield when staking ILV. In game, it can be used to pay for any fee (excluding IlluviDEX trades and Leviathan Arena wagers) that otherwise would be paid for with the main currency ETH.

While claimed staking rewards in the form of ILV are locked for 12 months, sILV offers the opportunity to liquidate your staking rewards immediately. The tradeoff for that is that sILV only can be used in-game and does not provide compounding in any form.

🙂

[cunning perch]

@manic spindle your answer crushed my tiny up-coming answer haha

[wooden jacinth]

Thanks, so is it a bit similar to immutable x (im thinking of gods) where you deposit eth and then you then have transactions with hardly any fee? Is there any stats available of how much silv has been redeemed so far compared to ilv?

[manic spindle]

Illuvium will run on Immutable X as Layer 2. And you can see how much sILV has been claimed here: https://etherscan.io/token/0x398aea1c9ceb7de800284bb399a15e0efe5a9ec2 🙂

[tight oyster]

Hi all, i have a question, i already staked and locked some ILV in ILV pool, i want to add some more, seems like i have to claim rewards before put more ILV, but if i do it, will the new ILV (and rewards) be add to the first déposit? or each time i add some ILV it's a new contract so a new line in the dashboard?created?

[manic spindle]

Claiming rewards when staking another deposit in the ILV pool is still only one transaction. Every claim and every deposit creates their own batch to be found under "Vesting" 🙂

[vernal drift]

i'm about to join the staking club =p

[river gazelle]

i only have 1ilv token. whick staking should i choose?thanks

[manic spindle]

https://tenor.com/view/one-of-us-gif-11131756

[tight oyster]

thx Stormi

[shadow wren]

Hey Stormi ... you know why there's a BALANCER ETH-ILV pool with like $85M in liquidity??

[manic spindle]

At current gas prices I personally would advice neither one. I would wait a bit for lower gas fees first 🙂 And considering that LP requires a 50/50 split in ILV/ETH ($ value) I'm not sure if Sushi LP makes much sense since there also will be two gas transactions per rewards claim. I'd suggest to stake in ILV only when gas fees are lower. NFA 🙂

[vernal drift]

i wanted to wait for gas fees to go down... but iono when that's gonna happen lol

[manic spindle]

Do you have a link to what you are referring to? 🙂

[shadow wren]

One sec

[vernal drift]

gas fees went up to likke 300plus not too long ago

[tawdry roost]

What app do I use to stake? I've got Binance and the website is asking to connect my wallet but doesn't accept Binance i think?

[shadow wren]

This is from Zapper.fi when searching pools with ILV token.

[manic spindle]

The initial token sale was on balancer end of march or april 1st, don't remember for sure. That one only amounted to $45m though to my knowledge.

[shadow wren]

Hmm ... might this be a private pool or something where tokens are stored? Zapper seems to let me "invest" in it if I wish to lol! In any case that's a ton of liquidity for a non-incentivized pool...???

[manic spindle]

@opal elm can you say something to this maybe? I'm lost here 🙂

[hexed bough]

I think Zapper is showing the IDO pool, which was used to launch the token? 🤔

[shadow wren]

Interesting, are all those funds actually still in there? I wonder if any aggregators route through there? 🧐

[hexed bough]

Nah, they're not. https://app.balancer.fi/#/

[shadow wren]

Hmm yeah search for ILV on Balancer returns nothing. WHOOPSIE @Zapper!! Lol

[hexed bough]

web3 is still quite difficult, but we're getting there 😉

[shadow wren]

I wonder why they're showing the ghost of that IDO pool. Oh well, above my pay grade!

[junior siren]

Hi I have a question. Just wondering after my vesting period ends and if I haven't claimed my rewards. Would it still be considered pending claimable rewards until I choose to claim either ILV or sILV?

[pallid bobcat]

I got ILV from the airdrop. Is it a good idea to Stake it in the core pools? I know this is my decision and my due diligence. But i want to hear your thoughts if its ok. Thanks

[manic spindle]

ILV is not needed for gameplay in any way. Instead it has three main functions and if any of these is interesting for you, then staking would make sense (when done sensibly according to gas fees) I would say 🙂

Governance:
Together, we have the power to shape the future of Illuvium through our community collaboration on game improvement proposals as well as electing the initial model of governance, the Illuvinati Council.

Liquidity Mining:
Here, you will gain more ILV (or sILV). Additional ILV will increase your voting power in governance & increase your share of vault distributions.

Vault Distributions:
When you stake ILV, you share in Illuvium's success and earn a passive income of additional ILV, funded through in-game purchases and fees. Vault distributions will only be available from sales and once the game and Illuvidex are launched.

For further details please read:
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

[pallid bobcat]

Thanks a lot for this!

[vernal drift]

hope gwei cools down on sunday... i really wanna start staking ASAP

[languid pine]

Hi there folks. I'm new here and I want to start staking, what should I know?

[manic spindle]

Some important sources of information that everyone interested in and/or new to Illuvium should take a careful look 🙂

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

[scenic wadi]

Hi guys! for how long does LP pool staking will run?

[languid pine]

Thanks for that, I already familiar with all 3 articles. I'm looking for a more personal input on it.

[astral zodiac]

I believe three years from start

[scenic wadi]

Thanks.

[rich timber]

uhh, why is apy going down?

[manic spindle]

For both core pools APY can go down because more people join and also every 2 weeks 3% less rewards are paid out. For the ILV only pool it also is reduced by all claimed ILV rewards being compounded in there 🙂

[scarlet shoal]

Is there anywhere i can check the days left until I’m able to unstake my ILV?, if im locked staking atm.

[manic spindle]

Under "Vesting" 🙂

[strong charm]

Hey guys, if I’m staking flexible, do I still get rewards from the current appreciation of the coin?

ex I stake ILV flexible at 100 but when I pull it out the coin will be at its current price

[manic spindle]

Yes, you staked 1 ILV not the value of 1 ILV. So when you withdraw that 1 ILV will have the same value as any other on the market 🙂

[strong charm]

So what’s the downside to staking? Why wouldn’t everyone just stake flexible?

[manic spindle]

Gas Fees might be too high too justify it due only owning a small bag of ILV could be one reason. Lack of knowledge another 🙂

[strong charm]

Got it

[vague thistle]

Less weight. If you stake for 52 weeks, you get a return weight of 2.0

[ruby topaz]

Is there a token I can add on my metamask to reflect the SLP that I staked or own?

[manic spindle]

I think this should be the address for Sushi LP tokens: 0x6a091a3406e0073c3cd6340122143009adac0eda

[ruby topaz]

Ok. Thanks.

[dark flax]

Would staking 10 ILV for 1 week return me 5 ILV or am i completely misunderstanding? the fees can't be enough to not make that transaction worth while right? Sorry if this was asked before

[manic spindle]

APY = Annual Percentage Yield and you only get the full APY shown under Core Pools when locking your deposit for 12 months for 2.0 token weight. So no, you won't get 50% return per week 🙂

[dark flax]

Thank you! Obviously i have alot more reading to do.. lol

[cedar kiln]

whats the APY on the staking?

[languid pine]

Waiting gas fee to go lower completely rng, right?

[manic spindle]

You can check that yourself here: https://staking.illuvium.io/staking/core 🙂

[cedar kiln]

i checked but i dont have one of the compatible wallets so i cant see it

[manic spindle]

Single ILV pool is 99,55% currently and Sushi LP is 683,80%

[cedar kiln]

great, thank you!

[candid tundra]

anyone know... I have my Core pool locked for 1 year. I would like to stake more inside of core pool.. but it says i first must claim my exisiting reward which is not vestable for 12 months

[honest wraith]

It’s a supply and demand, if there are a lot of people using the blockchain then the gas fees will be higher

[candid tundra]

what will happen if i Try to stake more? will my reward be lost?

[manic spindle]

When staking another deposit you need to claim your rewards first, yes. This still is a single transaction though and you do not lose anything. Your individual deposits as well as the batch created from claiming rewards can be found under "Vesting" then 🙂

[hollow widget]

Hi, stormi. Can you explain why apy of ilv/eth is increasing? Is it because more ilv is staked in ilv pool while the increase in people staking in ilv/eth is not as much?

[manic spindle]

One of the reasons the APY for the LP Pool increases could be that many (or some with bigger bags) leave the pool due to fear of Impermanent Loss.

[hollow widget]

What if there is a huge increase in stakers in the ilv pool, and there is zero change with stakers in ilv/eth...will that cause an increase in apy for the ilv/eth?

[manic spindle]

If a ton of people jump into the ILV pool that has zero effect on the ILV/ETH pool unless they actually migrate from there to the ILV pool 🙂

[hollow widget]

I see. Thank you very much for the explanation. Youre always very helpful :)

[keen verge]

Is it possible to unlock staked coins that has been locked?

[median canyon]

Best way to think about it: Every block, we throw ILV at people in both pools. The amount we throw at the ILV/ETH is about 80%. That never changes (except for flash pool configuration). So the APY depends on the current amount we are throwing at people, and how many peeps there are in there.

[median canyon]

No. That would not be locked.

[keen verge]

is it then possible to unlock it but lose all the current rewards?

[brisk surge]

Is there a chance that we will receive some free NFT's?

[median canyon]

We have given away hundreds. So yes, there is a chance. If you mean 'literally everyone gets one' then no, there is not chance of that.

[median canyon]

Sorry but no. If you locked it, it's there until the lock is up. Nobody can unlock it. It's got a water tight seal.

[scarlet shoal]

Where to check the time when my LP can be unlocked? As I locked stake it at first

[ruby wing]

Go to the vesting tab

[manic spindle]

You can see all your batches under Vesting

[silk meteor]

Also maybe because of higher ILV price? Higher the price the higher return on sushi pool?

[manic spindle]

It is possible that ILV going up more than ETH could have an influence on the APY of the LP pool but I'm too tired right now to wrap my head around that properly so I'll leave that for someone else to answer definitively 🙂

[silk meteor]

I think ILV pool apy changes solely on how many tokens staked in the pool. Higher the price the equally higher rewards so it remains the same regardless of price levels

[tulip quartz]

hey guys I have 2 ILV at the moment which I bought around $300. I've been seeing an increase to 360 so does that mean I made a profit of 120 or no

[ruby wing]

Completely up to you mate

most of us are locked for 6-12 months and have a longterm focus

cant give financial advice

[wintry yew]

But technically speaking yes, you could theoretically sell your 2 ILV for 720 and make 120 profit, but you don’t have that profit until you sell them ya know

[silk meteor]

Also selling requires gas fees

[vague thistle]

how is it that the pool yields rewards right now when there isn't any revenue yet?

[ruby wing]

!yf

[woven ibex]

You can yield farm ILV in 2 main pools.

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

[cyan rampart]

I'm super interested in how the APY for the ETH/ILV pool is derived if anyone has any insight!

[mighty onyx]

Is the gas fee ever going down?

[vague thistle]

gas has been like this for at least two weeks. Is Etherium even viable in the future like this?

[mint cave]

gas is high because ETH is THE blockchain to use

[smoky canopy]

What's the current gas fee to steak 1 ILV? Or how can we check this

[twin furnace]

For any future APY updates, will the return on ILV staked in the past be updated in real time? Or is the APY for that specific staking locked at the moment of staking?

[manic spindle]

APY is dynamic and can change at any time. Both Core pools also receive 3% less rewards every two weeks.

[twin furnace]

I see. Thank you very much! 😄

[smoky canopy]

So after a year, it would have received 72% less?

[manic spindle]

Try to check these sources for more input 🙂 Article #9 also goes into the fortnightly 3% drop 🙂

https://medium.com/illuvium/9-tokenomics-launchpad-and-reward-details-5894c3b356be
https://medium.com/illuvium/29-governance-yield-farming-and-vault-distribution-faq-7327ae7eb507

[languid pine]

What's the difference between Staking ILV and SUSHI LP? I'm new to this.. I'm trying to study about it, but is hard for someone who just met this economy o-o'

[proven karma]

@languid pine This is from the medium article @manic spindle linked

[exotic igloo]

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

[proven karma]

with the ILV staking all you need is the illuvium token, in the Sushi pool you will need both ILV and Eth to get the LP token

then you will need to stake that to earn rewards.. anyone correct me if im wrong in my understanding.

[smoky canopy]

What would be the cheapest way to buy an ILV token right now? Without incurring too many gas fee etc costs

[exotic igloo]

No other ways

If you buy on the CEX you still have to withdraw them to stake them

[languid pine]

Ok, thank you.

[final steppe]

Pretty much just waiting for the GWEI to reach a level that's low enough, in your opinion. Then buying the token 🙂

[smoky canopy]

Okay thank you lol. Praying to the Gwei gods

[supple trail]

just to clarify, lets say you stake 1 ILV at 200 and it goes up to 300 by the end of your locked in staking period. When you pull it out you still have the 1 ILV and whatever gains you had but they are now valued at that new 300 price right>

[wintry yew]

Yea

[final steppe]

Correct! Any ILV you own will be valued at the current market price... you won't ever "lock in" the price.
Just keep in mind that the rewards you claim are locked for 12 months from the date you claimed them. So you may be able to withdraw that initial stake of 1 ILV but you won't be withdrawing all of your rewards at that time

[supple trail]

Meaning the rewards panel? Like where it says claim ILV vs sILV? If I wanted to claim sILV when the game comes out so I can use it for in game purchases I can though right?

[final steppe]

Ah, yeah! If you claim sILV, those rewards are available to you immediately and can be used for in-game purchases. If you claim ILV, those are the rewards that will be locked for 12 months and you will find those claimed ILV in the Vesting tab with a countdown by day

[mighty onyx]

Can I buy ILV from other places? Like Pancakeswap or binance?

[final steppe]

No, not at this time.
Most of the liquidity is on Sushiswap and that's where we recommend you purchase ILV. However, it is available on some other exchanges too

!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

[stiff crescent]

is it more advisable to stake in ILV or ILV/ETH?

[spring merlin]

@stiff crescent That's a complicated question and depends on your risk tolerance. You are taking on considerably more risk providing liquidity for ILV/ETH.

[stiff crescent]

Ah I see but the APY is 6X tho XD

[spring merlin]

That's the balancing act, but make sure you understand IL. You could put in 50/50 ETH and ILV, ILV moons, and you have no ILV, only ETH left.

[drowsy wigeon]

u could also lose a ton with impermanent loss. i think someone sent a calculator here for impermanent loss

[spring merlin]

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

[stiff crescent]

so did you guys put into ILV/ETH and pray?

Oh yeah also if I don't lock the stake I can pull out the rewards + initial stake anytime?

[elder dawn]

i did. to me, i'm giving up some upside on ILV to receive more ETH, which I'm also bullish on. Again, worst that happens is I lose everything. Finite loss on the downside, huge potential on the upside.

The rewards have a 12 month vesting. you can pull out your equity, but rewards are locked for a year

[final steppe]

You can withdraw the initial stake at any time.
Any rewards you claim are vested and locked for 12 months from the day you claimed them.

[stiff crescent]

Ah okay what if I locked the stake then? the initial stake can't be pulled out right? cus I did see a mod say that although the rewards are locked u can reinvest/restake them?

[final steppe]

Correct. You can't pull your initial stake out until the lock period is completed. But then the benefit of locking is that you increase your token weight to 2.0-- leading to a higher APY and more revenue distributions. If you chose to stake unlocked, your token weight is 1.0... so about half of the APY.

And yeah, any rewards you claim are automatically reinvested into the ILV-only pool with a token weight of 2.0

[stiff crescent]

oo is there a timeline that the game is currently following to be released? or is it advisable to just start staking now?

[elder dawn]

note though, every time you claim rewards, its an ethereum transaction, so you're paying gas. make sure your rewards are enough to justify the transaction costs

[stiff crescent]

oh jesus ETH gas costs 😫

[final steppe]

Private Beta expected this quarter.
Open Beta/Game release expected in Q4 towards the end of this year 🙂

[elder dawn]

last timing estimate is alpha version soon, beta in Sept/Oct, and public release Decemberish. Staking now is a bet on upside and getting higher rewards sooner. Again, individual risk tolerance to lock into a game that doesn't even exist yet.

[stiff crescent]

oo then would it make sense to stake like only a portion of your ILV and save some for game launch? I'm not sure about the role of ILV and sILV in the game itself

[cyan rampart]

Also, if you plan on playing Illuvium, you can claim as sILV and use your rewards that way without the 12m vesting period.

[final steppe]

The main currency for in game purchases will be ETH (Ethereum).
ILV isn't used in game as it is our governance token.
However if you are staking ILV and choose to claim sILV rewards, that is what you can use instead of ETH to pay for in game purchases.

[cyan rampart]

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

[stiff crescent]

Ah I see thanks a lot so it doesn't function like how AXS does with axie

[cyan rampart]

Yeah the functionality of the tokens is different than AXS for sure.

[stiff crescent]

alright thanks I was worried since I thought it was similar to AXS where the tokens play a big role in one of the main game mechanics but if that isn't the case then staking is a lot more appealing

[ruby wing]

!timeline

[woven ibex]

• Numerous partnerships with influencers throughout the
  next months
• Gameplay trailer coming soon
• Mystery Auction shortly coming soon
• Closed beta this summer
• Open Beta / launch in late Q4
• Tier 1 Centralized Exchange listings imminent, date
  unknown.

[cyan rampart]

We can probably take it to #💰〕token 😛

[final steppe]

Haha, exactly 🙂 And thank you for asking about that instead of just assuming! Have to learn somehow!

[stiff crescent]

Btw is there a criteria for finding partnerships with influencers? If I wanted to reach out for an opportunity is there anyway I could do that? Thanks y'all so much for helping btw 😄

[final steppe]

Hmm, what do you mean reach out for an opportunity?

[stiff crescent]

Be an influencer/sponsored content creator for the game, I'm a professional esports coach in SEA and have my own page and following etc so I wanted to know if it would be possible?

[final steppe]

I'll answer this in #863267087715270686 🙂

[smoky canopy]

IL would be less if both ILV And eth grew in value right? If either 1 outgrows the other by a large amount, then the loss will be greater

[ruby wing]

correct

[stiff crescent]

alright thanks

[ruby wing]

our Ideal scenario in the Sushi pool is if ETH goes to like 10K and ILV goes to like 1000 ish

the IL comes from a divergence in asset prices like you mentioned

[smoky canopy]

So you kinda got to be bullish on both ILV and eth... Like I have faith in ILV growing, but not sure how much more eth will climb... That's the gamble 😅

[ruby wing]

Exactly

[final steppe]

Exactly.

[ruby wing]

the yield makes up for most of the IL tho, unless ILV pumps to 10K and ETH doesnt 😉

[smoky canopy]

I haven't tried to calculate this as yet 😂😂time to bring out the excel spreadsheet... But I trust what you say

[ruby wing]

theres a calculator pinned 🙂

[smoky canopy]

Ahh thanks! Still getting used to discord lol.

[plain island]

are LP staking eligible for rev dis? Not seeing anything about this in the whitepaper

[cunning perch]

Everything you lock in the website will be eligible for Rev. But unclaimed rewards are not and therefore you need to claim occasionally

[dim wagon]

I believe both pools are but I'll let someone more knowledgeable answer that

[plain island]

ok thanks, where can i see revdis rewards that have already been paid out?

[cunning perch]

All in the website. (staking)

[plain island]

gotcha, i assume you mean here? Is there a stat for revdis somewhere? https://staking.illuvium.io/staking/0x8B4d8443a0229349A9892D4F7CbE89eF5f843F72/analytics

[cunning perch]

yeah you can see the rewards distributed there

[plain island]

i see "pending ILV", does this mean revdis is distributed as ILV?

[cunning perch]

You can see the global rewards in the overview section. you can see your stake in the vesting section. When you claim your rewards they will be locked for one year and you can also see them in the vesting section AFTER claiming

[plain island]

Right. I can see that, I'm failing to see how revdiv rewards are paid and how I can break down how much I would be making in revdis versus just staking rewards. Again, nothing in the whitepaper or staking guide medium article about this. Just seeking clarity before investing

[cunning perch]

The amount of RevDis is not clear yet since the game(s) is/are not out. Depending on the number of players and the amount of ETH used in game it can vary greatly. It can be like $1 per token per month or even $100 per token per month depending on the success of the game.

[plain island]

ooohhh kayyyyyy gotcha, this needs to be added into the whitepaper. So we'll get more info as it's preparing to release and the staking overview page will be updated to reflect this?

[cunning perch]

When Rev starts flowing in ofc there should be a new section there. Not bow though as we are not there yet. You can ask whatever questions you have in the proper channel and we'll help you find the answer .

[plain island]

appreciate the help thanks 🙂

[cunning perch]

no worries. 🙂

[smoky canopy]

I'm trying to calculate IL vs apy.... Like say after 12 months, IL is at 20%, but the apy has been at 600%, we would still have profited? 😅

[karmic gorge]

Is there any disadvantage of staking ILV?

[ruby wing]

Gas fees 😦

[cunning perch]

depends in which pool you are investing and what your plans are. Also yes gas fees can be a sort of pain in the behind

[karmic gorge]

Thank you

[smoky canopy]

I'm looking into the sushi LP pool right now with the higher APY, just trying to get my head around it... Like the IL vs the apy

[cunning perch]

If both coins pump there won't be one I suppose. If one outperforms the other then there will be one depending on the outperformance

[smoky canopy]

Yep that's what I'm trying to calculate... The calculator takes into account the values of ilv and eth before and after to calculate the IL %, but then I'm trying to weight up the IL% against the Apy to see if it can offset it depending on the IL %... Not sure if that makes sense 😅

[cunning perch]

for math stuff I believe @manic spindle or other mods can help you better. 🙂

[smoky canopy]

Professor Stormi of mathematics, maybe you can assist 😋and thank you Arash for the help.

[cunning perch]

anytime bro. off math i'll help you with any questions you had 🙃

[wanton nova]

Hey, the APY takes into account compounding interest, right? But how often do I have to claim rewards to 'realize' the APY? Does the APY calculation assume a weekly compounding?

[cunning perch]

When you claim your rewards, it'll move to the vesting section and add to your original stake and therefore reduces the APY.

imagine adding more water to your orange juice. Does it become thicker or thinner? 🙂

[wanton nova]

but only when I claim my rewards they are moved to the vesting section and gain rewards themselves, right?

[cunning perch]

yep. unclaimed rewards will not be minted. the vesting section is the one-year minting process. If you want them, you have to claim them and wait for a year. But claiming them will both add to your tokens and will be subject to receiving Rev

[wanton nova]

but then claiming often (not considering gas fees!) should then results in a higher total yield of rewards, right?

[cunning perch]

the more ILV add to the pool, the lower the APY will be. APY will drop 3% every fortnight. Hence the example of the orange juice I gave you.

[wanton nova]

ok thanks. But lets assume the APY does not drop 3% every fortnight. APY is 600%. Which - as I understand it - means that I'll be rewarded 6 ILV for every 1 ILV i stake when taking compounding interest into account

But to get to 600% I have to claim rewards regularly for them to earn rewards themselves. How often is this? Weekly? Because if I just stake 1 ILV and get 6 ILV after one year it would be 600% APR and not APY?

[cunning perch]

well it does since all the rewards go there. the more people leave/exit the higher it gets, but since the buying pressure of ILV outweighs the selling pressure (most likely scenario) then the likelihood of the APY drop is high. Anyhow, We believe that RevDis will be so insane that the YF rewards will be considered a tiny bonus of the the game release. But it's all NFA

[wanton nova]

Thanks for your explaination but my question is more about how the APY is calculated

[cunning perch]

claiming is on you. You have to do it whenever comfortable. besides, for the SLP you have to pay even a higher gas. so take it into account

[wanton nova]

I think we are talking past each other a bit. Sorry if I haven't made myself clear

[cunning perch]

yes I think so too. I was answering your previous question before you added/changed something 🙂

[wanton nova]

Let me try again

APR is not APY (as far as i understand it). X% APR means I invest something and I get X% as reward after a year. X% APY means I invest something, gain something periodically, reinvest this and if I keep reinvesting my earnings I get X% after a year. My question is what period underlies the estimate of APY in the staking section

So how often do I have to reinvest (i.e. claim rewards) to actually reach the APY. Daily, weekly, monthly

[odd sage]

Do you think its possible for gas fee to drop under 20e any time soon ?

[cunning perch]

well as APY drops 3% every fortnight, if you plan to compensate, then you will have to take that into account based on your stake size, unless you don't care about it and would just claim randomly. This is what I know.

[cunning perch]

No one knows. Gas is pretty unpredictable.

[odd sage]

60$ ich since wednesday, its waaaay to high rn

[wanton nova]

Ok thanks. The 3% drop are an absolute drop or relative? So if APY is 600% now will it be 597% or 600 - 600*0-03 = 582 in two weeks?

[cunning perch]

I believe the 3% APY drop is for the single pool not SLP. I'm not sure as lots of variables move the SLP % up/down

[cunning perch]

not for a high-potential token with 200m MC. it's pretty cheap still considering the plan and the project's it's planning to overtake and outrun.

[fringe gulch]

The discourse is helpful for someone who is lurking and observing (me) but was wondering, was anyone able to model this using R code or something? Feels like someone should have done a simulation at this point to figure out the optimal approach to claiming/restaking

[cunning perch]

you mean when is the best time to claim rewards?

[fringe gulch]

yes, either time based (X number of days) or based on X% of staked amount accumulated in yield (accumulated to a certain threshold)

[cunning perch]

well it's worth mentioning that there is no re-staking as claiming the rewards, literally stakes them for you. But you can use this for claiming period if it's of any help. Personally I don't use it. I'd rather claim when I'm comfortable claiming.

[fringe gulch]

thank you for the excel! almost exactly what I was hoping for

[cunning perch]

No problem 🙂 Hope it helps

[edgy plank]

Just want to give a shout out to Arash and Stormi for all of their help. I just staked my first batch of ILV!

[cunning perch]

Hurray. Welcome aboard. Glad we could help you 🙂

[edgy plank]

Really digging this community, super helpful and patient with all of the newbies

[cunning perch]

Really glad to hear that. 🙂

[wanton nova]

haha I was actually asking about the APY because I'm planning to do a little shiny dashboard to help decide when to claim

however that would be my first shiny app so I don't know if I can pull it off. I wanted to learn shiny anyway and why not combine it with creating something useful

[tight oyster]

"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" I don't get it, 3 millions tokens overs 3 years distributed through yield farming and only UNLOCKED token can yield farm, so if we stake and LOCK we don't receive rewards? i don't understand

[sinful hatch]

I am not certain but does the 1 million refer to the available supply e.g. the purchased $ILV. As these are unlocked, they can be used for farming. I could be way off base though.

[upper cargo]

does gas fees fall at certan hours of something? its so high, seems stupid to stake my 1ilv xd

[charred rampart]

Question: I have already supplied liquidity and am earning rewards. If I wanted to supply more liquidity, how does that work? Does it add to current time vested? Or is there a separate contract that earns rewards?

[cedar orchid]

Will the 365 days locked staking reward be available after this period or only within a period of another 365 days. So this would mean it would only be free with in 2 years after taking the rewards?

[silk meteor]

Separate. But beware when you add more, it automatically makes you claim accrued reward first which means more gas fees.

[cyan rampart]

I'm only staked in ILV right now - would I have to claim rewards to stake Sushi-LP or a flash pool?

[silk meteor]

I believe yes ILV only pool reward has to be claimed first

[left kestrel]

3 tokens decent to start of staking?

[exotic igloo]

Sure!

[graceful trout]

do i need to stacking to buy in game items when release?

[exotic igloo]

No!

In game currency is ETH

[native needle]

Good Day. Whats the frequency of claiming rewards in staking?

[left kestrel]

flexible = whenever you want and locked = up to 1 year

[mint cave]

you can claim rewards as often as you want.

[native needle]

Is there a minumum amount example I staked today seems like the "claim button is greyed out

[final steppe]

Hey there... sorry for the confusion. The "locked" tokens that cannot yield farm is referring to the tokens that have never been unlocked before, such as the Team/Seed tokens. Those tokens cannot yield farm.

If your tokens were unlocked (e.g. tokens purchased on Sushiswap) and you then choose to lock them when staking, you can yield farm.

[final steppe]

TYPICALLY, the gas fees are lower during the weekend.
Just have to keep an eye out 🙂

[tight oyster]

Thx Reminic3nt , now i understand 😉

[upper cargo]

Thabk you, Reminic3nt!

[mint cave]

i'm not sure why you are not able to claim, you gain rewards every block(15 seconds). are you sure your stake transaction went through already?

[exotic igloo]

You need a minimum

[final steppe]

I think there is a minimum required amount... but it's very small.
I've seen a few people try to claim like 0.00001 and it won't work.

[exotic igloo]

More than 0.01 I think

Which is not worth claiming btw

[mint cave]

ahhh i didn't know there was a minimum claim

[cyan rampart]

Also, gas prices can fluctuate a LOT even during high-ish times like now. I don't know if something got changed in the ETH upgrade, but I've been able to get away with gas somewhat under the "recommended" values.

[left kestrel]

what is a good gas price today around 45?

[native needle]

I think its too small for now

[cyan rampart]

I haven't seen GasTracker drop below like 38 average this morning, but got through on 31 or something earlier.

[cosmic trellis]

Is there a maximum amount of time you have to withdraw your rewards by? What if I were to just leave my ILV staked for a like 2 years without claiming once

[potent flare]

then when you claim, you will have to wait an additional year for the reward to be unlocked, not too wise

[gloomy gazelle]

What shabim said is important to note. But it also seems like you may think you need to withdraw your rewards to claim them. But that is not how it works when you claim ILV. Claim the rewards and the rewards start earning you more ILV at the current APY. So you end up missing out on compounding your rewards interest when the rates are the highest.

You can leave your initial deposit to keep earning as long as you want and still claim the rewards and even 12 months later after those rewards are fully vested withdraw the rewards and STILL leave the initial deposit to keep earning.

[thick kraken]

Hello what is good gas? It is $45 now, is it good?

[exotic igloo]

I normally wait for sub 20

[thick kraken]

Okay, thank you, I will wait ofr it as well. Do you know when / what day that usually happens?

[exotic igloo]

Sunday night my time normally

i'm EST

It's pretty rare tho these past weeks

[thick kraken]

Ill try to do that

$45 is just too much, and ETH is going up to much too

[exotic igloo]

Yea

[vernal drift]

I plan on staking when the gwei cools down a bit more... just need clarification... if i were to lock my ILV in the ILV core pool for 52 weeks. Do i need to claim rewards right after i stake so that i can claim those rewards in a years time?

[potent flare]

rewards accumualte, if u claim instantly uou will claim like 2 cents worth of rewards

[jagged spindle]

question when we deposit into the pool I always get confused.... If I owned $500 of ILV which at the time was 3.5 ILV when I withdraw from the pool do I get 3.5 worth of ILV?

[vernal drift]

gotcha thanks, shabim

[potent flare]

you deposit 3.5 ilv, you withdraw 3.5 ilv. Nothing happens to your ILV, just the price per ILV might change in that time

[jagged spindle]

@potent flare SO even when I converted it into SLP?.................YES

[potent flare]

are you talking about the ilv/eth pool?

Then your ILV can become less due to impermanent loss. Imagine: You deposit 500$ ILV and 500$ of eth. ILV goes x10, ETH goes x2. So now you have 5000 ILV and 1000 eth. But your contribution has to be equal. so, that means you loose 2k of ILV and gain 2k of ETH so now you have 3k of ILV and 3 k of ETH. makes sense? that might not be fully correct, but it a rought draft of what i think happens

[jagged spindle]

@potent flare what if goes higher than what I purchased it for regardless?

[potent flare]

im not really sure, im a newb in this, somebody more pro could come and tackle the issue Remi is here, he should know

but i can tell you this my SLP pool went up x2, it was 2k, now it is almost 4k (and it also provided rewards for 1k)

[final steppe]

You don't need to claim right after you start staking... but the latter portion of your question holds true. You'll want to be sure you are claiming the rewards throughout the year because you'll need to wait 12 months after each claim before you can withdraw those rewards.

[jagged spindle]

@final steppe My biggest question is if I pull out of SLP and both ETH and ILV are up higher than what I went into SLP for would I still make profit?

[vernal drift]

awesome thank you for elaborating on that @final steppe

[fresh grail]

In terms of rewards yes. Because you'll be getting roughly 650%.

[final steppe]

You'll have a profit overall, yeah! But the composition of your holdings will vary due to impermanent loss.

[jagged spindle]

@fresh grail to calculate that to my SLP would do SLP x 650% = profit?

[thick kraken]

Can someone help? I claimed rewards, paid $45, but the rewards are still pending

[fresh grail]

This chart will give you an idea on your loss through IP, but overall calculating the APY% into it. The risk to reward works in your favour

[jagged spindle]

@thick kraken give it a little bit, It happened to me and $60 dollars later of retrying just for it to be pending, due to me thinking it failed....

[thick kraken]

Now I'm super mad 😦 😦 😦 I claimed my 5.22 ILV but what got claimed is the 0.0055 on my other pool

[potent flare]

in order to claim from both pools, you have to pay a lot in gas for both transactions (2 confirmation) as far as I am aware

[jagged spindle]

lmao what like a different pool completely.... Idk it seems to be glitched as fuck

[thick kraken]

Of course the only thing I clicked is Claim ILV with SUSHI LP. Instead it claimed the 0.0055 in the ILV pool I dont understand how and why???

[jagged spindle]

Dam that's odd... yeah man did that same shit to me.. did locked and it did my stuff as flexed.....

[thick kraken]

Arghhghghghghhghghghghgh double transaction I guess. Glitched af you are correct

[potent flare]

yea.. so you have to confirm it twice, first confirmation for ILV pool, second confirmation of SLP pool. that can add up to a lot of gass

[jagged spindle]

Now to move it would cost like 80$ total....

[potent flare]

im not touching that SLP pool until gwei is 20, fukh that

[thick kraken]

So when I click Claim ILV on the SUSHI LP, it also claims the one from ILV pool. Is that supposed to happen or a glitch from the website? Why have two buttons in the first place argh

[jagged spindle]

@thick kraken How long did it take you to get 5.22 and hm SLV are you staking if you don't mind me asking

[potent flare]

it is supposed to happen. next tme you can read what the metamask is telling you. You press claim ILV on sushi LP, it will firt give u transaction for ILV pool ILV claim, then the second transaction for sushi LP ILV claim (which will cost x2)

Well, it happened to me so... You can ask a mod when you see one next time. Im just telling you that the same thing happened to me

[thick kraken]

WOW and when I claimed just for SUSHI LP, even though I don't have anything in the ILV pool anymore, it charged me $50 + $86. So total I paid $50 + $86 + $45 = $181. Holy f*ck

[potent flare]

yea. no touchy the pools if gwei is high in school... yea.. im a rapper

[cyan rampart]

I'm strongly considering letting my rewards roll until launch and taking them as sILV honestly.

[jagged spindle]

@cyan rampart yea but you can't sell sILV

[cyan rampart]

Can't sell 180 bucks in fees either.

[potent flare]

can deduct them in the tax form tho ;p

[thick kraken]

I invested $5K in sushi LP 10 days ago. But the $ value right now doesn't matter, ILV can easily go down

[jagged spindle]

Yea, but it'll get staked automatically

@thick kraken Dam nice I was only 1k in.... SO it took you 10 days to get 5.22 dam man

[cyan rampart]

I'm not heavily invested anyways - claiming early and often doesn't make sense with the amount of rewards I'm getting.

[thick kraken]

It appears I paid $95 for these two rewards. Ahhh next time I know better. Thanks guys

[potent flare]

yea, SLP pool brings the gains to the table

look on the bright side, now you have almost 4k$ worth of weight in ILV in the pool for that 5 ILV claim

[jagged spindle]

whatcha mean 4k worth of weight

[potent flare]

5 ilv x2 weight = 10 ilv. 10 ilv rn = 3.6k, he has 5.22 so alsmot 4k quick maffs. The pool weight will determine what share of revenue distribution he will get, and also increase the yield in his regular ILV pool by 10 ILV weight

[jagged spindle]

so then my .32 SLP at a 2x weight will mean I get .62 SLP at the end?

[potent flare]

if you put slp at x2 weight it will count as if you hvae 0.64 yes

[jagged spindle]

What's the estimated ceiling of this coin?Yes

[potent flare]

price of ILV you mean? Sky is the limit... i assume MAXIMUM it could reach to 50k. more realistically i would say 10k, even more realistically i would say around 5k next year is probs the max

[jagged spindle]

Yes.... These timers are so stupid. Makes me want to like not talk ....

Dam those are good numbers..... I really hope it does hit 50k 🙂

[potent flare]

if 5-6 years if the project is still alive and has multiple games, i dont see why it wont, especially if eth and btc are gonna go up, its a matter of time and market

[jagged spindle]

BTC probably hit 100k+ easily once economy is good

[potent flare]

sure, anything could happen, who saw 370 today.. nobody

[jagged spindle]

lol what if this goes to Esports

[abstract comet]

deleted my post cuz you already said max could be 50K heh

[jagged spindle]

If it hit 50k... I'd rethink life

[abstract comet]

sorry to revisit your pain, but I think I might be claiming soon...what was the $45 for? From what I understand, claiming from SLP pool claims both pools so should be 2 transaction fees.

[thick kraken]

I have no clue mia, I assume it was for the 0.0055 ILV

[dim wagon]

Yeah someone said they don't claim rewards until a full token which will probably be my earliest time to claim

[thick kraken]

Hope it's not read as FUD, but temper your expectations guys. Right now, there is no reason to sell ILV (aside from traders) and the immense buying pressure comes from us ppeople who believe in the future of this game. But what do we do with the ILVs? We stake em, and the rewards vest for 12 months. So expect a bumpy ride a year or two from now, when people who claim their rewards start selling.

Me, aside from the sweet ILV gains, Im doing this for the sILV. You need that to get them rares when the game is up

[untold sierra]

ho sorry for my question but how can i play this game?

[jagged spindle]

Guys is it possible to lock my flexible??? It was supposed to be locked sadly it isn’t…

[final steppe]

Hey Bagel, you'll have to head to your Vesting tab to withdraw the unlocked balance.
Then you can restake with a locking period.

[jagged spindle]

That’s going to cost like 300$

[final steppe]

He aliveli! The game is not out yet. It is expected to launch in Q4 towards the end of the year.
Any additional questions about the game, please feel free to ask about it in #💬〕general 🙂

[jagged spindle]

So sad like I placed it under locked too and it went to flexible like 😠

[final steppe]

Yeah, gas fees are not the best right now.
You could always leave it staked as flexible until the gas fees are more reasonable

[jagged spindle]

sad I feel like I'm losing profits though.. these timers are so triggering

[final steppe]

Did it now? Like you selected locked and even moved the slider to select the time you want to lock for? If so, I'd suggest reporting that in #814313819185741845 with all of the details you can remember

[jagged spindle]

Yea.... because I added more to my locked ILV so I'm getting fucked now for free well for gass..............

[ashen oak]

Hey guy, I set up SLP staking last week. I can see my rewards on and the amount of SLP staked in the Dashboard on Illuvium, but for the life of me can't find where the SLP lives? Like showing how much ETH and ILV I put in, and where to unstake (on flexible, and don;t plan to unstake anytime soon)

[ashen oak]

I click "Go to pool" but not sure what to do from there

[ashen oak]

Ah I see it is in vesting. Is there any way to see how % of ETH and ILV make up my SLP?

[jagged spindle]

go to SLP link and just take a portion of SLP and see what the ETH to ILV is

[ashen oak]

as in unstake a portion?

[jagged spindle]

@ashen oak https://app.zerion.io/invest/asset/SLP-0x6a091a3406e0073c3cd6340122143009adac0eda Sorry It was in a different chat

[exotic igloo]

This is impossible

Wait for low gas around sunday night

[jagged spindle]

It failed to execute my locked SLP then showed me failed transactions while still charging me gas fees. Then before I knew it was staked into flexible...

[ashen oak]

sorry what do I click here?

[jagged spindle]

@ashen oak that's the SLP token

[final steppe]

Hey Seabass, I'm still getting familiar with SLP myself but someone shared this with me the other day which I find fun to look at 🙂 Let me know if it helps: https://app.apy.vision/

[ashen oak]

ah so it's pretty much 50/50?

[jagged spindle]

@ashen oak Yes from what I gathered lol

[ashen oak]

ah okay, awesome

[full sedge]

AEST sunday?

[rugged latch]

whats the difference with a flexible and locked staking?

[mighty onyx]

How low do you think is going to get?

[exotic igloo]

EST

Normally dips around the 20s

But it doesnt last long

[eager rover]

Bros I haven't claimed rewards in a long time and I am in physical pain

[ruby wing]

Same