🥩〕staking

[ruby wing]

rip

[rugged latch]

where do you guys recommened staking in the core pool? ILV or Sushi LP?

[mental tangle]

yes.

both.
NFA
im in both, solo pool is safer. Impermenant loss and all
lots of people do just ILV

[open spear]

Do we get rewards from Sushi for providing liquidity in the ILV/ETH pool if we have staked our SLP tokens?

[ruby wing]

Correct

you will see your value of ur LP tokens increase

based on the accumulation of Sushi tokens

[open spear]

Where will I see this?

[ruby wing]

When you have LP tokens in your dashboard

you can see them increasing in price

[merry ridge]

Wow gas are insane right now

[ruby wing]

Ya

[dark bear]

About to hit 100

[fresh grail]

Looks like I won't be claiming rewards for the next few days

[open spear]

I seen somewhere that providing to a sushi liquidity pool you get 0.25% of each transaction or something along those lines.

[ruby wing]

Ya

[merry ridge]

same here. I've been waiting to claim mine since the london hardfork

[ruby wing]

there is no way to view them along, they are added to the value of your LP

[exotic igloo]

I just sent my transaction at 15 GWEI

It will go when it goes

[ruby wing]

Savage

see u in 10 days

[exotic igloo]

Nah

Tomorrow night

Have faith

[ruby wing]

https://tenor.com/view/lackoffaith-disturbing-darthvader-starwars-gif-4883104

[thin cosmos]

So I'm a bit confused about all of this. Do I buy an Illuvium token to stake or do I buy the Illuvium coin. Looking at buying a deathstare blazenite emote

[ember basalt]

the token and the coin are the same thing yo

[thin cosmos]

I guess i need to do some more learning lol

[twin furnace]

Guys I have a question about APY calculation:

When calculating the APY for SLP staking, does the APY get calculated based on the dollar value of your stake? It is straight forward with ILV as the APY and dollar value of the stake scale together; but for SLP, say if ILV rises by 50% and ETH by 30%, how does your APY get affected by this?

Is it still calculated based on the original stake dollar value at the point in time of staking, or based on HODL- IL value?

[exotic igloo]

Calculated on the dollar value of the SLP token

https://etherscan.io/token/0x6a091a3406e0073c3cd6340122143009adac0eda

[twin furnace]

Thank you! 😄

[steep quail]

I staked in SLP last week. I am looking to add another longer position in SLP and its saying that I must claim my other rewards before I can steak this new batch. Is this the only way? Ive had my face kicked in by gas just getting this far and would rather not have to claim those rewards at this time and just stake this new position. Am i just outta luck?

[exotic igloo]

You have to claim the rewards before adding or withdrawing yes

[steep quail]

fair enough..... thank you

[abstract comet]

lol who is stronghands.eth

he/she owns ILV 😆

[stray steeple]

i only have 1.5 rn

I'm so excited fam I'll have more soon 🙂

[wintry yew]

Does that show all the addresses of the people who own SLP ?

[jagged spindle]

So if I want to go from flex to locked I have cash my rewards to pull the flex SLP then pull rewards again to place it into the locked staking pool?

[silent spire]

Yes, but remember not to claim rewards directly from rewards. Rather goto Vesting and unstake which will ask and auto claim your rewards 🙂

[jagged spindle]

Is it worth going from flex to locked ? My stuff glitched and put my SLP in flexed

[full lagoon]

If I want to add in SLP staking. Should I click first Claim rewards or the Stake button? Or no difference? As I want to lessen transaction to not have significsnt gas.

[vernal zephyr]

if i buy like $20 of ILV is it enough to stake for relevant rewards

[silent spire]

Depends on three things:

1. How much are you staking? If it is low amount, you will prob pay more in gas as SLP is 2 transactions.

2. ETH gas. Is it low enough to justify?

3. How long time period do you want to do fixed? 1 Week or 12 months?

[silent spire]

No, I believe the gas fee will be more than $20. Check current Ethereum gas fee.

[winter dew]

I have 5 eth and have plans on staking. Which is better on ILV or SUSHI LP? Thanks guys

[silent spire]

ILV: Low interest rate, ~50% APY in flexible. But all your 5ETH will be converted to ILV and increases with ILV prices.

SLP: High interest rate, ~300% APY in flexible. Half of your token is on ILV and ETH, so affected by both token increase and drop. Also, there is "impermanent loss".

[tacit mesa]

hello.. hello there.. any suggestion for those who had experience with microvestings? seems even with sufficient gas, it does not claim the LP reward and only claims the ILV im quite confused..

[rugged latch]

I just bought 2 Eth, and plan on staking it on the ILV pool, should I go flexible or locked? Im leaning on locked rn and how will I get sILV ?

[exotic igloo]

You can choose sILV as your reward when claiming them

[woeful stirrup]

You can do semi locked as well if you not comfortable locking for a year

[balmy niche]

How does the stacking work with rewards and stuff?

[old sorrel]

is there a way i can bet on the price moving up

[proud plank]

buy more

2 weeks ago looked at ILV and SKILL both at $150 and choose to buy 12 skill because I was playing it....haha

[exotic igloo]

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

[jagged spindle]

1 year

[sharp rover]

Damn this impermanent loss is no fun. I guess more ethereum is never a bad thing though

[silent spire]

All factors needs to be considered and also personal preference.

ETH is a cushion we need in rainy days. 😄

[woeful stirrup]

yea the impermanent loss has been savage.

[honest wraith]

How bad is it??

It seems like both ETH and ILV have been going up

[woeful stirrup]

Iuno but I think I saw a graph in the last 2-3 months it was like close to something like 50%

you basically end up with a lot more ETH and lose all you ILV because ILV is going up much faster.

[civic umbra]

im down over 4 ilv and its only been a week..thats how bad it is lol

[woeful stirrup]

yea it's really bad. If ETH stops pumping it might get worst too.

[ashen dust]

Been trying to claim my rewards all week. Thought with the weekend coming and the new eth upgrade things would be cheap. Definitely not the case!

[civic umbra]

everyone says wait til sunday...well its sunday in australia and still expensive 😦

[ashen dust]

I’m in canada and it’s Saturday night and I find this is typically the cheapest gas time for the week and this is ridiculously high.

[sharp rover]

Down about 10 ILV in 2 weeks but in those 2 weeks I’ve got 14 ILV from staking so not actually too too bad with the IL. Just if you were to go all in on ILV with the ETH you would’ve been up more

[modern comet]

how do you check this ?

[civic umbra]

https://app.apy.vision/
but it looks like jake has the pro plan

[sharp rover]

APY.vision

Yeah pro I think you need to hold like a few 100 of their token but seems worth it to me if you do a lot of yield farming

[ashen dust]

For me the slp rewards are just too great to ignore . The Rewrds you get and with the compounding, It’s crazy. I also locked in for 52 weeks. So don’t really care, about current prices. Just want to get as much ilv as I can!

[wary pagoda]

yeah, and the impermanent loss is why the yeild on the SLP pool has gone from around 500% to almost 700% now

[sharp rover]

So true. And I imagine 1 year from now with all the token unlocks the ILV price will average out with ETH more giving less IL

[ashen dust]

I’m bullish on eth and ilv so it’s a match made in illuvium 😂

[gloomy gazelle]

powerful Tool to analyze IL in eth/ilv SLP
https://analytics.sushi.com/pairs/0x6a091a3406E0073C3CD6340122143009aDac0EDa

[woeful stirrup]

But the question is if you are equally bullish. Because the thing with Impermanent loss is that you are guaranteed to take the losing side of the trade. Best case scenerio for you as an LP provider is if prices don't change relative to each other.

At least the LP percentage is going up a bit. Guess people are moving into core staking rather than LP after getting raped the past few months.

[gloomy gazelle]

I think it’s just that ILV rewards are pumping much more than the SLP token value.

But I am new to this whole yield farming thing so I don’t know

[river hemlock]

Hi everyone hope you've all been well :). It's been a while since i checked on my ILV staked amount and wow i'm impressed at how much ILV has gone up!! I can currently see that i've earned 4.6 ILV that i haven't claimed yet. Is it ok for me to just leave this and let this accumulate more, or will it decrease the ILV amount depending on the % reward that is available in the future?

Also for the 12 month locked period, does this commence when i select claim ILV or is this based on the ILV i already have staked for 12 months already that has earned me this amount?

[gloomy gazelle]

You can leave it. But claiming will start it’s 12 month vesting countdown. And it will then start earning you more ilv.

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

[gloomy gazelle]

Yeah you must claim it for the countdown to start on that amount that you claim

[river hemlock]

oh right makes sense :D. Hopefully gas price comes down soon and i'll claim it. 5 ILV should be a good amount to compound xD

[gloomy gazelle]

I know gas is annoying these days.

Should be under 20 right now I’d think. But it’s not

[river hemlock]

yeah it's been so high lately! Is there any rates for compounding?

[eager rover]

I just claimed ILV. Gonna cry myself to sleep now

[gloomy gazelle]

https://tenor.com/view/hello-darkness-depression-fml-gif-10753679

[knotty heron]

Why is the return % on the ILV/ETH pair so much higher? And does that mean it is a lot riskier?

[gloomy gazelle]

Yes. Higher risk higher reward. The impermanent loss is rough right now.

[keen verge]

does anyone know where do i unstake my coins?

[gloomy gazelle]

DT said it this way… you are staking Y(ILV+ETH) and are rewarded with a fixed supply of X(ILV). If the price of X increases compared to Y, it makes sense that you are getting more yield, no?

[gloomy gazelle]

Vesting tab

[keen verge]

thx

[gloomy gazelle]

@tacit mesa you have two transactions when claiming from SLP pool. The first claims your rewards from your ILV only rewards (which may be why you have a small vest now)

[exotic igloo]

From now on we will direct you to this video and then answer questions. Pretty much everything should be covered.

https://www.youtube.com/watch?v=C6YugU4zZr4

[gloomy gazelle]

FIRE AND AWESOME

[mint cave]

https://gfycat.com/windingfairamericanlobster

[tacit mesa]

yeah.. i confirmed the transactions separately.. but was still wondering why it did not claim the ETH/ILV one.. it only claimed the ILV pool.. sucks.. but ok. ill go into the youtube tutorial..

[honest wraith]

The IL only really accounts for what your initial investment was correct?

[ashen dust]

Definitely more bullish on ilv. That’s why I wanted as much ilv as possible. I believe that locking it for a year and with the compounding rewards that at the end of the year I will have more ilv even with the IL

[woeful stirrup]

Well you definitely been right so far. In fact the LP has been worst than not staking anything at all recently.

[abstract comet]

where does the GasTracker pull data?

[tacit mesa]

hey.. i did it.. i was only able to claim both of properly when i used the browser in metamask and wait both prompted transactions so go through.. i was really confused why it didnt claim my ETH/ILV in the first few tx.. but solve it now.. thanks..

[dapper raft]

The more ILV staked in the pool the lower APY gets, right?

[ruby wing]

Yes

unless price moons even harder

[gloomy gazelle]

Apy of the ILV only pool isn’t effected by token price, not at all. The apy of the SLP eth/ilv pool is effected.

[hollow widget]

Hi. Can you explain how apy of slp will be affected when token price increases?

[violet valley]

Hi Team, when do you think is a good time to start claiming silv instead of ilv?

[gloomy gazelle]

Ilv earns you more ilv. sILV can be used in game. So how much are your rewards and how much do you want to have in the game? It’s up to you to decide.

[violet valley]

do we know if will there be an easy way to convert silv into ilv yet?

[gloomy gazelle]

No it is not a thing that is done. sILV literally burns the ILV. So no

ETH can also me used in game. Honestly for things than sILV will be usable for.

[gloomy gazelle]

Your rewards are paid in ILV. So as ilv pumps the value of your rewards versus the value of your SLP tokens goes up. The SLP eth/ilv token value is also effected by impermanent loss.

[hollow widget]

Another question..is the ilv rewards based solely on the rewards allocated from the vault or is it also affected by the amount of people staking ilv?

I understand more stakers = lower apy

But is the total amount of rewards distributed to stakers affected by the increase in stakers?

[long canopy]

What's you guys personal preference for staking ILV or Sushi LP? Newbie here so would like to know people's preferences

[potent flare]

both 8)

[hardy delta]

What is the APY atm?

[ruby wing]

Check website

[hardy delta]

Nice thx

[ruby wing]

https://gfycat.com/mediumflustereddoe

[minor hazel]

hi i wanted to ask do i have to pay gas fees again when i want to take my rewards after vesting for 12 months?

[exotic igloo]

Yes

[minor hazel]

so i pay to stake and then to claim before vesting then to claim after vesting?

[worthy peak]

Every operation with your ilv involves work of a smartcontract, which uses gas

[minor hazel]

so claiming this would be pointless right?

[ruby wing]

yes

[celest pike]

what is 2.00 refers to?

[iron pebble]

Is there a minimum amount to stake?

[cunning perch]

No, but you have to consider the gas fee as well. So it would be wise to stake when gas is low and claim when gas is worth paying the price

[iron pebble]

do you think it's worth to get even a partial ilv to stake or should i wait to have at least one?

[cunning perch]

Well it's not about my thinking really. You should be the one who decides. Compare your amount with the gas you need to pay.

[iron pebble]

Oh yeah, I'm asking more like... if there is a point in staking so little. Like, form an objective POV. Not looking for financial advice but from ignorance regarding staking haha

[cunning perch]

staking will give you rewards and later Revenue. So, if you are not planning to sell anytime soon, why not growing your investment by doing it, however small? But then again, considering the gas, you should be mindful.

[iron pebble]

Will do and be, thank you 🙂 since I know a few projects that ask for at least a certain amount, I was in doubt regarding this one.
Thanks again!

[cunning perch]

No worries. There is no minimum amount here. You are free to decide what is in your interest 🙂

@swift belfry losing money (token) happens only if you stake in the SLP (Sushi Liquidity Pool) Which means: When you add an equal share of ETH + ILV (like $10 ETH + $10 ILV), you are making a balance. Now, if ILV outperforms ETH (the price pumps a lot more) then you are disturbing the balance and for the pool to keep it, it will sell you ILV and buy more ETH. So in the end, you will have more ETH than ILV. This can happen the other way around as well. Did you understand?

[swift belfry]

Ok so if you think the price of ILV token will increase in the future, you don’t want to do the Sushi LP staking because you will end up with less ILV at the end? So do people usually just use the ‘ILV pool’ then, even though the returns are lower? I’ve never done any staking before.

[cunning perch]

depends. When you stake in SLP you accept the risk of IL (Impermanent Loss, the one I explained above), but for that you are receiving a lot more rewards so it will most likely compensate your loss. Literally means more risk, more rewards. But we have a lower APY single pool too which is for the ones who cannot stand IL.

[minor hazel]

Mods am i allowed to send a link to an impermanent loss calculator i found? It may be helpful in calculating your risks and getting an idea of how much u can lose to IL

[exotic igloo]

Sure

[swift belfry]

So the SLP pool is for people who think ILV will outperform ETH by less than 500% per year? Roughly

[minor hazel]

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

[cunning perch]

the pools are for everyone. anyone can decide which pool to invest in really. It's a personal decision. One runs a risk, while the other is risk-free

[cunning perch]

Thought u went to bed 😄 I have to wake up 3 times to check the Discord every day lol

[swift belfry]

I guess a what I’m wondering is where is the tipping point? I.e. how well much does ILV have to beat ETH by, before it would have been better to stake in the ILV pool? I assume the risk element is purely whether you think that tipping point will be reached?

[rapid anvil]

Come on gas fees

[cunning perch]

It hasn't happened that you would lose all your ILV and/or ETH, but try not to go around it. You know yourself better than anyone. Are you a risk taker? or do you want slow and steady rewards? this is the best way to know which to go in.

[swift belfry]

Apologies, but which option is the slow and steady one? Is it the SLP pool, because you aren’t getting the benefits of any sudden ILV price increases? Last question I promise, thank you for your help.

[cunning perch]

The single asset pool (ILV pool in the website) is the slow, safe and steady pool the APY of which will drop 3% every fortnight due to more people joining and rewards moving to it. You can ask whatever question you have. No worries.

[modern comet]

@cunning perch if this month I stake SLP and next month I increase the amount of SLP
do I have to take the reward first? or not ?

[cunning perch]

you can deposit/stake as much as you want. Staking will automatically claim your rewards as well, but be mindful of the gas. SLP requires more gas for staking/claimng.

@modern comet also read this: #🥩〕staking message

[worthy peak]

meh the ILV pool's APY is 2 digit now, so sad😥

[cunning perch]

it'll probably be 1 in 3 years 😄 Rev will be the real gain. YF pools will be little bonuses

[swift belfry]

If you stake in the ILV pool does your APY continue to decrease every 2 weeks, or is your APY locked in at the time you stake?

[cunning perch]

No, it will def decrease.

[worthy peak]

Too much guys like it slow and steady😡

[cunning perch]

haha. Well the rewards are moved there too, so It's not just about too many guys liking it slow and steady 😄

[worthy peak]

yeah, true

[swift belfry]

If you stake in the SLP pool is there a minimum time period before you can get your money back? Now I’m just being lazy, I’m sure there is a guide somewhere for this. 😅

[worthy peak]

going to sell my flat then to ape in the Sushi pool💡

[cunning perch]

When you lock in the website, you have to wait until it's done. then you can either withdraw or let it stay there. Withdrawing your tokens revokes the right of receiving any rewards (YF and Rev).

[cunning perch]

That's a drastic decision. Make sure you don't end up sleeping in the sewers lol 😄

[worthy peak]

Nah, will rob a shop and be provided with a place to spend time in by the gov😉

[swift belfry]

Or put it another way, how long do you need to leave your tokens staked before you can cash out with the rewards? Do you have to invest for a full year?

[halcyon crescent]

Do I have to buy ILV/ETH pair on Sushi to put into SLP pool? Bls halp

[dusky rock]

Yes

[exotic igloo]

https://www.youtube.com/watch?v=C6YugU4zZr4

[cunning perch]

you can lock your tokens however you want, but the rewards will stay locked for a year after claiming

[halcyon crescent]

It's flexible at first, rewards vest over 365 days tho, so 2 year investment horizon

[cunning perch]

no it's not. If you join Flexible it is Flexible. If you join core pools then It will not be flexible

[crude python]

hi, is it alright if i ask if the gas prices to stake ILV will ever reach sub $20s? i've been waiting to stake my ILV but the gas prices have always been in the $50-60 range

[halcyon crescent]

Thank u ser

[cunning perch]

Hey, Gas is pretty unpredictable really. No one really knows what it's gonna be the next minute.

[halcyon crescent]

Yeah sorry I meant to say you can choose flexible, but for max rewards you should expect a 2 year investment horizon 😉

[halcyon crescent]

I use https://gasnow.org to examine trends in order to choose the best gas prices

[crude python]

oh, sorry 😅 thanks for answering though!

[swift belfry]

Arg! so much to learn... so if you stake SLP in ‘core pools’ you should wait 2 years, but if you invest SLP ‘flexible pool’ you can cash out with a return sooner?

2 years is an eternity in crypto

[cunning perch]

No. When you lock it there, you decide how long it's gonna stay locked. For more rewards, you can lock it for one year. Nevertheless, the rewards will always stay locked for one year AFTER claiming.

[swift belfry]

Oh ok I see

[iron pebble]

Damn, 2 years seem like a lot

[halcyon crescent]

Yeah but this is a really novel gaming DAO protocol. 2 years of locked funds help you have a lambo in 2 years instead of panic selling the dips when your emotions get the best of you lmao

[cunning perch]

When you lock and stake, you will always have unclaimed ILV until YF ends. You will be here a long time. 🙂

[iron pebble]

Are the rewards worth it in the sense of inflation and whatnot? 2 years in crypto is an eternity haha

Worst case scenario ILV goes boom and tanks to 50 bucks, what'd happen there? Sorry if there is no answer, I find this super interesting even if I'm poor as hell

[cunning perch]

for now everyone is looking at YF rewards while in a few months when Revenue starts flowing in. no one would care about the APY and the YF rewards that much.

[swift belfry]

In theory your funds could unlock in the middle of the next bear cycle. Hmm

[cunning perch]

for price discussion, go to #💰〕token I'm sure lots of ppl will convince you that WILL NOT happen EVER.

[halcyon crescent]

You want a big enough stack where claiming and taking hits to your profit margin from gas doesn't really affect you overall. I put like $60 in a few weeks ago ajd wasn't worth claiming the rewards. Now that I know more about the project, about to drop a much bigger chunk in

[iron pebble]

Haha I don't think that way either, I just don't know what would happen in that case.

[cunning perch]

OK guys, I'm gonna go teach (to work) for 3 hours. talk to ya'll in about 5.

[halcyon crescent]

True but in theory it shouldn't matter because this protocol is so resilient that despite us being in this bear trend, axie is mooning, it will be even more so like this with ILV since fundamentals and tokenomics are way stronger

[cunning perch]

ILV will probably not care about Bears/Bulls.

[worthy peak]

Also think so, if the game is good ppl will play whatever season in crypto

[halcyon crescent]

If you guys are really worried about locking your funds up, go invest into OHM, it's 17,000% APYs right now and you can unstake at any time. You also don't need to claim rewards since it autocompounds in your wallet every ~8 hours

[iron pebble]

I'm just trying to learn since it's a pretty complex thing.

[cunning perch]

guys please keep this channel for ILV Staking. For off-topic and other tokens use #799010390201466880 and price discussion #💰〕token

[swift belfry]

It’s interesting. So basically if you invest in SLP now. You are choosing to 12x your ILV tokens in 2 years time. But you have to believe that the value of ILV tokens is still going to be good in 2 years. Have I understood that correctly? I’m assuming based on the APY of 600% per annum?

[rapid anvil]

When ILV of eth goes too high you get like burnt. Needs to be a 1 to 1 value

[mint cave]

i think there's a lot of misinterpretation about "2 years" or something just now

you can choose to lock whatever you stake for 0-52 weeks.

then the rewards you get from staking will begin a 12 month unlock period as soon as you claim them. while unlocking, these claimed rewards will compound your additional stake, increasing your total rewards.

you can claim as often or as sparingly as you wish as rewards are accrued every single ETH block. ****note there is a base minimum claim amount of 0.01 ILV or similar

[swift belfry]

Ah ok, so if you chose 52 weeks you would eventually 6X your initial investment after 2 years.

[mint cave]

if you're referring to the 600% APY that's 1 year not 2

unless, for some reason, you locked up your stake for 52 weeks and never claimed until a year later?

[azure jewel]

So If i staked for 10 weeks for locked and once the 10 weeks are up, the funds that are now unlocked will they continue to stake or do I have to withdraw and stake it again?

[mint cave]

though, you are right in that you can't really touch that last(52nd) week of rewards until 2 years after your initial stake.

[swift belfry]

For the ILV pool do you get paid your returns in ILV token?

So you will end up with more ILV token than you started with?

[mint cave]

both pool rewards are paid in ILV tokens

[swift belfry]

But with the SLP pool you could end up with most of the rewards paid in ETH, if ILV grows faster than ETH? Still learning about this stuff.

[hybrid latch]

!how to

[sour dragon]

Hey guys! Wondering if there is any guide on how to unstake? Thanks!

[stuck lichen]

Did you choose a locked stake??

if you chose a locked stake, you cannot un-stake

[stray coral]

So if you lock for 52 weeks you cannot unstake?

[stone bolt]

is this where someone can explain staking to me lol

[white sparrow]

Yep. Pretty much the definition of locked

[soft trail]

What’s the better pool to stake in? ILV pool or Sushi LP (SLP)? What are the pros and cons? Anyone?

[tacit cedar]

Hey guys, I claimed both pools at 16 ages ago, and they've been stuck pending ever since. If I speed the gas up so it goes through, I can only select that on the first transaction (not the pending) so is that going to cause issues? Is there any way around it or do I just have to wait

[brisk surge]

The SLP pool has a much higher APY but is a riskier investment due to impermanent loss

There are more people staked in the ILV pool than the SLP pool

[burnt hill]

How much gas limit should i use ? seems Gwei is low but still asking for 45$ because crazy amount of gas limit

[brisk surge]

Take a look through the pinned messages in this channel, if you’re still having trouble ping me

[ember basalt]

I had this problem before, when I adjusted the gas on the first transaction, the second transaction was claimed as sILV since I wasn't looking at my pc.

I'm not sure if you can do anything other than put up high gas on the first one so that it gets picked up right away then change the gas on the second right after. << I'm not even sure this would work

[magic plover]

is the $ in sushi pool cell the dollar amount of the SLP staked? I'm kinda shocked at how often it is recommending me to claim. What does the 8760 in the formula mean?

[tacit cedar]

Appreciate the answer, thank you

[sour dragon]

What about the flexible one?

[soft trail]

Thanks. I also staked in the ILV

[brisk surge]

You can unstake at any time in the flexible pools

[sour dragon]

Gotcha thanks sir lemme check again

[gloomy thistle]

Thank you to the SLP that I was able to withdraw today. Now I have enough ETH to finally stake my ILVs. Feelsgoodman.

[wanton nova]

Hey, the staking pool Apy will drop 3% every two weeks right? Is this true for both pools or just the Ilv solo pool? And is this a flat 3% reduction or is it reduced by 3%? As in Apy-3 or Apy*0.97?

[manic spindle]

The total rewards paid out in those two weeks is reduced and from there the pool weight comes in, so both pools are affected 🙂

[tardy sable]

H

[timid otter]

is there is any way to unlock locked ilv from staking? I got them locked up for a year but want to move it into ilv/eth pool on sushi

[manic spindle]

No. Locked tokens are locked for the entire period. No one can change that 🙂

[tardy sable]

Hi, can anyone help. How do I know have staked?..my ilv has disappeared from my metamask wallet . I staked in the flexible pool

There seems to be no option/tab to unstake

[manic spindle]

Check the "Vesting" tab.

Thats where you deposit would show 🙂

[wanton nova]

Thanks. And do you also know the answer to the second part? Flat 3% reduction or is it always reduced by 3%

[tardy sable]

Thank you 🙏🏻

So I can unstake my original stack anytime and rewards after 1 year

[manic spindle]

You can only unstake your deposit at any time if you staked flexibly without a locking period. In that case, you are correct, yes 🙂

[left kestrel]

hey does it make sense to lock the staking for 6 weeks for 3 ILV instead of flexible stacking in order to receive higher APY and lower gas fees by reducing the frequency of claiming rewards?

[gloomy gazelle]

if you feel comfortable locking your stake then lock it for as long as you feel comfortable. Doing so will increase your rate of rewards.

[slate hatch]

Are there any plans to move away from ETH for stacking? The gas-fees are incredibly high, making it rarely a good investment for smaller investors (i.e AXS's token currently). Perhaps Polygon?

[brisk surge]

Is it good to stake just one ilv coin

[manic spindle]

There are no plans to move away from Ethereum. For ingame transacations there is a gas free solution via Immutable X.

!IMX

[woven ibex]

Illuvium uses Immutable X as a layer 2 solution. This means that you won’t be charged network gas fees within Illuvium. This keeps the players cost of doing business low maximizing potential gain.

[full sedge]

hey can someone please give me a detailed explination about how the SLP APY% fluctuates ?

[manic spindle]

That is for you to decide in terms of financial strategy. Considering gas prices I don't think it would make sense short term but if you plan to hold for a longer period, it might make sense when done at lower gas fees 🙂

[gloomy gazelle]

Probably under vesting tab

[gloomy gazelle]

your rewards are paid in ILV. So as ilv pumps the value of your rewards (APY) versus the value of you SLP deposit ($ value staked) goes up.

[full sedge]

So if there is more Tokens in the ILV pool, that will cause SLP APY % to come down ?

[gloomy gazelle]

No those pools are separate.

What matters is the total value in the SLP pool compared to the rewards given. And that is doubly variable because it’s not just about
A. how many SLP tokens are in there but also
B.the value of SLP token compared to the ILV tokens given as rewards. (What I mentioned before)

[ocean lantern]

hey, what bank do you use here in Australia. CBA seems to fail with Binance, I can’t buy ETH to stake, thanks

[echo sandal]

Any bank will do i recommend FTX (instead of binance), i did purchase Eth then swap ILV. Staked mine for 52 weeks 💯

[full sedge]

sorry I really don't understand the whole concept on how SLP APY % goes up or down, you'll need to dumb it down for me lol

[gloomy gazelle]

I had to start over. Give me a minute. 😂

[full sedge]

I really appreciate it thanks in advanced

[jagged spindle]

@full sedge I'm pretty sure it goes up and down depending on the traffic... Meaning if more people move ETH to ILV and vice versa the APY goes up. Correct me if I'm wrong.

[gloomy gazelle]

Say you provide $1000 worth of liquidity in eth/ilv and then stake your SLP tokens… nice good. The APY when you got started staking said it was 600%. But a few days later… the price of ILV is higher than it was maybe it’s like pumped 30%… but the value of your SLP has not gone up that much it only increased 15% maybe (because it’s only ever been half ilv anyways). But the APY is telling you how much USD value you will get in return for staking. And it’s paid in 100% ilv. So the value of the rewards are increased.

Your value locked as SLP might be $1150 and the rewards APY might would be around 690% if these numbers were used.

[jagged spindle]

Thanks ❤️ for explaining you the real OG

[vestal osprey]

hello I have a question about Flash Pools staking

I would like to stake AXS... when I go in sushi to swap eth to AXS I find two coins, AXSv1 and AXSv2....which one should I buy for staking in Illuvium?

[full sedge]

so 600% to 690% is also 15%

[gloomy gazelle]

Yeah I used that because that’s the difference between the gain of SLP and the gain of ILV

[gloomy gazelle]

It might not be a good idea to stake AXS at this time. The pool is ending pretty soon I think. The one you want is the ERC20 token on the ethereum main net.

[vestal osprey]

oh ok thanks for the heads up.....so then it is better to stake directly ILV?

[full sedge]

thank you so much, you've cleared it up alot, I've got a better understanding now!

[gloomy gazelle]

I’d say it’d be like multiple times better yes. Here is the link to the last block for earning AXS staking rewards https://etherscan.io/block/countdown/13001852

[gloomy gazelle]

Me too.

[vestal osprey]

oh I see so in two days the last block should be finished and staking ends. at the end of the staking do they refund all the AXS staked?

[gloomy gazelle]

Yes but it will take a transaction to withdraw. And actually it will take a transition to claim your rewards and another transaction to withdraw. But all of that will be done at the same time. So don’t claim before you withdraw.

[vestal osprey]

I see...and eth fees are so high now...so definitely the risk to lose is high ))

I will go for ILV swap and stake those....thank you

[fringe spade]

at what reward point you guys decide to claim rewards? -> what is your thought behind it?

[manic spindle]

Not at 1 ILV and current GAS prices for me 🙂 I actually wait for 5-10 ILV currently depending on Gas fees. But that's just my approach 🙂

[stark star]

What's the best place right now to stake?

[fringe spade]

Just on the website mate 🙂 https://staking.illuvium.io/staking/core

[stark star]

Well that makes sense. Thanks

[fringe spade]

I see. are you mainly staking or LP?

[manic spindle]

I am fully in 12 months ILV staking. I might have considered LP if I'd known about the development of the APYs.

[stark star]

So if I stake in the sushi LP, I can remove it before 12 months if I want?

[fringe spade]

Yes just got that in as well.. IL doesn't mean much on a 600% ( for now ) yield...

[fringe spade]

Yes you can choose to stake it flexible ( take out whenver you want = earn less ) or fixed.. it's up to your taste.

[eternal garden]

Just put on 12 months fixed. Hope won’t be any loses in the the end of 12th month

[echo sandal]

I just leave it until needed 😄 Half of my ILV is locked at stake and half is in Gate.io. the price of my investment is x4 now 😋 and ILV still bullish 🥳

[fringe spade]

I have put all of my 50K in staking in 12 months... I am here for the long run. 🙂 We should be doing very good mate.... even in a possible bear market. We are so early.

[eternal garden]

Nice 👍

[fringe spade]

congratulations bud. Well done on the price gain, you were SUPER early holy cow.

[eternal garden]

Did a perfect timing. Bought some when ILV was around 90, then sold half right now for Eth and put them on LP staking

[fringe spade]

very nice, not a bad play. 😉

[brisk socket]

so... for LP staking u have to choose between free unstaking or 12 months lock?

[manic spindle]

Regardless of which pool, you can stake flexibly with no lock or 1 up to 52 weeks locked. At the max end you'll get a token weight of 2.0, basically doubling your rewards from yield farming and revdis.

[stark star]

You can borrow other specific token while it's locke?

[fringe spade]

No you can not borrow against you ILV just yet. ;p

[stiff glacier]

So let me get this right let’s say I bought 3 ILV and then stake them for 12 months I get double the reward at the end in the form of ILV

[unborn solar]

I have staked sushi LV for 12 months, but I'm confused about claiming rewards. Is there a benefit to leaving the ILV in rewards? Or should I be claiming it every so often for some reason? Or do you only claim if you want to add more to your staking? Thanks in advance for any help

[brisk socket]

I would like to know about that too

[manic spindle]

Rewards from staking have to be manually claimed and GAS fees for those transactions have to be paid:

• When you stake ILV yield farming rewards start piling up for you
• You claim those rewards whenever you deem the pile to be big enough to justify gas fees
• If you claim sILV you have it unlocked right away (sILV is only usable in game as a substitute currency for ETH outside the marketplace and the Leviathan Arena)
• If you claim ILV then that batch of ILV gets locked for 12 months and automatically staked in the ILV pool with a token weight of 2.0 for compounding effect
• New rewards start piling up....rinse and repeat

NB: ILV paid out as part of Illuvium’s Revenue Distribution have to be claimed as well but are not subject to a locking period.

[unborn solar]

Thanks. So if I understand correctly you want to claim your rewards so they can start vesting but only when you have enough ILV in rewards to justify the gas fees?

[manic spindle]

Correct 🙂

Only ILV claimed needs vesting though. sILV would be unlocked right away.

[unborn solar]

Would collecting every time you have 5 ILV in rewards be reasonable? Or would that be to often? I guess it depends on how fast it takes someone to get to 5 ilv? Do most people collect at every X ILV or X days/weeks?

[manic spindle]

I personally don't go too crazy to calculate the absolute perfect timing so I claim at 5-10 ILV rewards at a time where GAS isn't too crazy 🙂

[unborn solar]

I see. I appreciate your help.

[old quest]

Hello! I would like to ask a question.
I wanted to stake SUSHI LP token. I had some ETH on my MetaMask wallet. On Sushiswap I chose to Add Liquidity, selected ETH and ILV (at this time, I only have ETH on my wallet), clicked on max ETH (then lowered it a little bit) and then ADD. After that the transaction was confirmed, I paid some gas fee, but I still have my ETH and have no LP tokens. Why is that?

[manic spindle]

Providing liquidity for ILV is done via an ILV/ETH Pool on SushiSwap and requires a few different steps compared to staking only ILV. These steps are the following:

• You acquire a 50/50 ratio of both ILV and ETH (in $)
• You go to: https://app.sushi.com/add/ETH/0x767FE9EDC9E0dF98E07454847909b5E959D7ca0E
• After approving the contract (if this is your first interaction with it), you stake your 50/50 ratio of ETH and ILV in the pool
• You receive SLP tokens (To see them, add the SLP contract address to your wallet: 0x6a091a3406e0073c3cd6340122143009adac0eda)
• You go to: https://staking.illuvium.io/staking/core
• You can now stake your SLP Tokens in the Sushi LP pool just like ILV is staked in the ILV pool.

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

[old quest]

Thank you!
Then what did I pay that gas fee for? It says: Approve ILV spend limit

[manic spindle]

If it was the first time you did anything there in terms of LP then you probably only approved the contract and if you are now sitting with ILV/ETH you could swap them for LP tokens 🙂

[old quest]

How much ETH should I leave on my wallet to fund upcoming gas fees to stake?

[manic spindle]

I cannot tell you that sorry. Depends on the gas fees at that time. Right now they are a bit higher.

[brisk socket]

what happens if i lock my stake for ex. 2 weeks. Do i have to pay gas to restake ?

[manic spindle]

Lock does not mean it gets unstaked then. It only unlocks and remains staked with the token weight it got from locking. If you wanted to increase that token weight though, you would have to withdraw those tokens AND re-stake them 🙂

[brisk socket]

I see thnk you

[fierce dawn]

Where i find a steep by steep to stake ILV?

[exotic igloo]

https://www.youtube.com/watch?v=C6YugU4zZr4

[wanton nova]

Great video! At 15:05 its said that when claiming rewards one can set the gas price low to save on gas fees and the transaction will go through eventually. https://youtu.be/C6YugU4zZr4?t=904 But doesn't this increase the chance of going "out of gas" ??

[exotic igloo]

No it is two different thing

[wanton nova]

out of gas = gas limit too low?

[exotic igloo]

Exactly

"The "out of gas" error occurs when all the gas you allotted for the transaction is consumed before the transaction could complete. During the transaction mining process, a portion of the gas is consumed for each operation that is executed on the Ethereum Virtual Machine (EVM) until the transaction is completed or until the amount of gas consumed reaches the gas limit.

The gas limit is the maximum amount of gas you are willing to consume. You can relate the gas limit to putting out a fire with water from a hydrant. If you do not have a large enough water supply, you may run out of water before you can extinguish the fire. As such, you will want to ensure that you include a gas limit high enough to complete your transaction."

[wanton nova]

ok thanks

[ebon oak]

I'm looking into becoming a long term staker. Are there any calculations that allow me to estimate in game revenue and how much passive income will be received per coin?

[cyan rampart]

That depends on WAY too many uncontrollable factors for anyone to reliably tell you.

Depends on in game pricing (which isn't decided yet), methods of earning ILV in game (not announced yet), player numbers (game not out yet).

[ionic lily]

I can only afford 1 ILV atm. Do you think it’s still worth staking for a year considering the gas fees and all? Or should I just HODL?

[ebon oak]

Ya I understand we don't know those things yet. That's why I was curious if anyone had made tools to help me speculate more accurately

[ebon oak]

Looking for a way to look at this from an investors perspective

[exotic igloo]

Only speculations

[exotic igloo]

Can be worth it if you pay reaaally low gas and don't claim at all for the year

[compact ginkgo]

Problem that gas rates are sky high

[ebon oak]

I'm more thinking about we will benefit when game is released and people are spending money in game

[eternal garden]

Can somebody explains me what is sILV? Will I get this after the lookup period or I can use them any time? It is like additional reward from staking ?

[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.

[glossy dirge]

i hypothetically lost a lot of gains just because it takes days before i can transfer eth to my wallet. feelsbad. Can you guys recommend websites where it doen't take a frickin week for my deposits to go through?

[exotic igloo]

What are you using

[grizzled granite]

heya stormi thanks for your help last time about staking i did 1.6eth now i want to add another 0.4 eth but i forgot the process may you please kindlyt remind me the process to stake into core pool sushi lp ilv eth thanks

[glossy dirge]

right now it's gemini.com. before i just bought directly from metamask but it has a 2.5k limit. i wanna buy more than that

[manic spindle]

There is a video link in the pinned messages that goes through the entire process 🙂

[exotic igloo]

Are you in canada?

[manic spindle]

In text:

Providing liquidity for ILV is done via an ILV/ETH Pool on SushiSwap and requires a few different steps compared to staking only ILV. These steps are the following:

• You acquire a 50/50 ratio of both ILV and ETH (in $)
• You go to: https://app.sushi.com/add/ETH/0x767FE9EDC9E0dF98E07454847909b5E959D7ca0E
• After approving the contract (if this is your first interaction with it), you stake your 50/50 ratio of ETH and ILV in the pool
• You receive SLP tokens (To see them, add the SLP contract address to your wallet: 0x6a091a3406e0073c3cd6340122143009adac0eda)
• You go to: https://staking.illuvium.io/staking/core
• You can now stake your SLP Tokens in the Sushi LP pool just like ILV is staked in the ILV pool.

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

[grizzled granite]

beautiful thats good finally haha i appreciate it alot

[exotic igloo]

For USA I heard Bitstamp is a good on ramp

[glossy dirge]

im in the US

[exotic igloo]

Try Bitstamp

[glossy dirge]

aight got cha. i will check it out. thanks!

[glossy dirge]

how long does it take for my funds to be deposited? if you know.

[exotic igloo]

dont know

Not using it

@misty karma you use that one?

[candid plover]

Coinbase works fine but there’s some fees involved (coinbase pro has hardly any fees but you’re funds get locked up for a 3-5 days). Not exactly sure how they calculate them but the last time I added to it, it was maybe 1-2% of my deposit. Also crypto.com you can move to a wallet immediately and they waive the fee for 30 days. I think it’s maybe 3% after the 30 day period.

[glossy dirge]

im fine with that as long as they don't hold funds.

[grizzled granite]

why isnt it showing anything im trying to stake core pool 0.4 eth doing 0.2 on one side flip and do other but no options and ive done 1.6eth before weeks prior

[candid plover]

Yeah coinbase should work fine for you then, I think when u first sign up you can’t offload as much but it increases as you go.

[exotic igloo]

Seems like you dont have ILV

Or that your wallet in not on the Mainnet

[grizzled granite]

oh!!!!

[misty karma]

No bitstamp had some issue I don’t remember what so I use coin base still

[next ruin]

Nvm, I found it. Thanks.

[cyan rampart]

Super limited on what trades you can do there, but for depositing, buying ETH and getting ETH in a wallet it's been solid.

[tawdry hornet]

Hi, can somebody help me provide the equation to be used to compute for the daily and the accumulated (after x number of days) when staking? This is assuming if the APY is fixed, though. Thank you.

[exotic igloo]

I use shakepay and there is no limit at all

[exotic igloo]

APY is not fixed.

[cyan rampart]

To be super basic, with APY math, if APY is 100% yearly, you double your investment in a year (this is ignoring staking weights as well). So daily would be 100%/365. It'd be .27% a day. Multiply that by the number of days you wanted to stake for.

Note that if you're locking a stake in, there's also up to 2x weight on your stake for a 12 month lock period. Also, the APY is not fixed, so trying to figure it out exactly won't be perfectly reliable.

[tawdry hornet]

Thanks everyone for the answers.
Correct me if I'm wrong, I believe this figure shows the APY changes every 2 weeks, right?
But I assume this APY is for the whole pool and would change how much share one has and the weight if its locked or flexible..

[final steppe]

@fickle sluice If you're considering the ETH/ILV SLP Pool, make sure you read up on the risk of impermanent loss: https://academy.binance.com/en/articles/impermanent-loss-explained

[fickle sluice]

man staking sounds very complicated

[cunning perch]

No It's really not. 1) if you can take risks, then join SLP and 2) If you hate risks, you join the single pool. It's as simple as that 🙂

[left kestrel]

which time frame do you propose for staking lock to maximize ILV gains starting with 3 ILVs?

[fickle sluice]

so if the price changes then its not good to stake?

[left kestrel]

i guess it is better to have smaller locking times than bigger one for the maximal compound effect, right?

[fickle sluice]

i believe its gonna keep going up

[ruby topaz]

Hi. I’m still trying to figure out the earning mechanics in this game. Hope someone can clarify for me. I understand that we don’t know the game play and how we actually earn, but from what I understand, we will earn ILV in the game (other than selling nft which I believe can be done in eth? Or is that also only in ILV), we have 2 options when we claim.

Option 1: claim as sILV that we can immediately use as in game currency

Option 2: claim/vest as ILV which will automatically be staked for 12 months to generate more rewards.

Does this mean that we can only reap actual monetary reward 12 months after our first game rewards claim?

I’m not saying this is a bad thing as I can see that this system can actually help to stabilize the economy and able to mitigate pump and dump to some extend and also promote some stability in the ILV coin. But is there anyway we can have quick cash out from game rewards that is able to convert to other coins like btc or eth at a short term basis? Hope the question is not too confusing haha. Basically does the game rewards provide an immediate option for liquidation if we need the funds for whatever reason?

[exotic igloo]

Revenue distribution in ILV are unlocked

So you can sell that if you want

[final steppe]

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

[ruby topaz]

I c. So what u mean is we will earn ILV as in game revenue and we can either cash out directly and sell it or vest it and stake for 12 months? Is that what you mean?

[full lagoon]

If you want to add stake in SLP pool, is it better to click Stake first and it will prompt you to claim rewards? Or click Claim Rewards first then stake? For us to save gas?

[ruby topaz]

This sounds cool indeed!!

[exotic igloo]

Stake

It will force you to claim anyway

So if you claim first you lose gas

[abstract comet]

Watch Rahlord's staking tutorial in pinned messages!

[ruby topaz]

Sorry. I think I misunderstood. Let me get this straight.

The 12 month ILV vesting vs sILV claim is only for staking rewards.

In game revenue is paid in ILV unlocked.

2 separate things altogether lol. Am I right? Do correct me if I’m wrong.

ILV rewards from staking will have to be vested for another 12 months before I can cash out but in game revenue I can cash out anytime. Is my understanding correct?

Thanks so much in advance for clarification.

[final steppe]

Correct!
ILV yield farm reward claim = 12 month lock
sILV yield farm reward claim = Unlocked
ILV Rev Distributions = Unlocked

[exotic igloo]

In game yield = Unlocked

It's 4 different thing

[final steppe]

@ruby topaz ⬆️ This would be ILV tokens received from events in game such as... PvP tournaments and possibly certain quests and challenges the team implements. More info to come on that

[ruby topaz]

Thanks @final steppe and @exotic igloo for the explanation!! Just one more, earlier u mention about vault ILV distributed to staked token holders, does this involve those vested tokens? Let’s say I have staked tokens but my 52 weeks is up and I have removed my staked amount but I still have Vested ILV rewards being staked, does vested token also considered as staked tokens and I’m still able to enjoy the vault distributions?

[exotic igloo]

Includes them yes. And they are even on a 2.0 weight so they get more than 1.0 weight

https://tenor.com/view/mind-blown-gif-11131691

[austere parcel]

just staked 5 ILV yay!

[left kestrel]

for maximising the compound effect of ILV better 6 week lock or 52 weeks lock?

[fierce dawn]

Minimun for stake ILV?

[exotic igloo]

52, you get more rewards compared to 6

[exotic igloo]

No minimum

Only gas fees dictate the true minimum

[fierce dawn]

ok true. Use the eth net?

[cunning perch]

yes ILV is on ERC-20

[fierce dawn]

wow expensive.

[left kestrel]

so doing 52 weeks once has higher overall yield for ILV ath the end than 9x 6 weeks a year?

[exotic igloo]

I think you got it mixed up ser

[fierce dawn]

How high will the commissions be for in-game exchanges, purchases and withdrawals?

[exotic igloo]

You dont have to wait until it unlocks to claim you rewards

[cunning perch]

not for that MC. you need to compare MC to price. As for $0.1 to be $1, it should make a 10X. as for ILV to make $3k, It should also make a 10X, so...with that MC, it's pretty much doable

[exotic igloo]

You get rewards every blocks so every 15 seconds

You decide when you claim them

[fierce dawn]

ypu are ok

[exotic igloo]

Game is built on IMX (Layer 2) so no in game fees

Same with the marketplace

[left kestrel]

i thought if you choose staking with locked timeframe = rewards can be claimed after the chosen time frame?

[fierce dawn]

Ready, i'm in

[cunning perch]

welcome on board 🙂

[exotic igloo]

No.

You decide when you claim them

[left kestrel]

then i dont get it why you have the option to lock it at all...

[exotic igloo]

Because it gives you more rewards

Slide the slider and look the APY and weight change

[exotic igloo]

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

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

[fierce dawn]

I am interested in the stake for 12 months. My question is, at the end of the year, should I make an additional investment to play?

[left kestrel]

well if I go to "rewards" it is grayed out and under vesting it is "locked for 42 days". Little confused ...

[cunning perch]

No ILV is needed to play the game

[exotic igloo]

Because you staked and locked them?

[thick kraken]

Hey I'm back. Remember I posted a week ago about earning 0.58 ILV a day from my Sushi LP stake pool? Well now it's down to 0.48 ILV per day. Does anyone know why and how the math works?

[thin raptor]

It’s too early in development I have already put my stake in for 12 months

[fierce dawn]

But my SIL are going to be frozen at stake. Will I be able to play with the rewards generated from here to the beginning then?

[exotic igloo]

Rewards decrease by 3% every 2 weeks. The more people enter the pool the less you get also.

[cunning perch]

If you want to earn, you need to spend ETH for certain stuff and then sell stuff in the Market for gains. But you don't need ILV to play

[mint cave]

if the claim buttons on the rewards page are greyed out, you likely have not accumulated the minimum amount of rewards to claim, which is about 0.01 ILV iirc

[left kestrel]

you said i can claim any time, but obviously it is not the case ....

[cunning perch]

You can claim your rewards in sILV and pay for certain stuff instead of ETH.

[thick kraken]

Right but it hasn't been two weeks yet and the decrease is about 18%. Would you know if the price increase affects that too?

[thin raptor]

No it’s locked in for sure

[left kestrel]

ahh, okay, ty

[warm flare]

Just to confirm the SLP token spoken about in the pinned youtube demo is not the SLP from axie?

[exotic igloo]

Price doesnt change the amount of token you get

Just more people entered the pool.

[fierce dawn]

Will it be an item exchange economy? Won't there be the possibility to farm?

[cunning perch]

whatever price is set in game, will stay the same. The price will not change due to price volatility. like $1 is always $1

[exotic igloo]

Please everyone READ the whitepaper

Then come back with questions.

Read the ressources

[cunning perch]

No it's not. AXIE SLP is totally something else and unrelated to ILV

[warm flare]

@cunning perch Thanks. I was pretty sure already. Unfortunate that the 'ticker' was the same. Moving any crypto makes me nervous. Following steps from the video but I wanted to make sure before

[thick kraken]

So would you know how it goes down from .58 to .48?

And I have read the whitepaper I'm just not sure where to find the resources on ILV rate. Last time someone asked me to read whitepaper, I asked where I can read more about it but got no reply. Can I please get a reply this time round as to where I can read about my question?

[cunning perch]

Sure you can ask whatever you don't understand here in the community. SLP here means (Sushi Liquidity Pool token)

[cunning perch]

the in-game prices, if you're asking, have not been released yet. Could you elaborate what you mean by .58 going to .48?

[exotic igloo]

I answered you many times

More people entered the pool.

[tawdry hornet]

Follow up question too, currently the rewards are coming from 3M ILV tokens. Once the game opens, the pool reward will be composed the rest of these tokens plus coming from in game transactions, yeah?

[cunning perch]

So then @thick kraken the master has already answered apparently.

[exotic igloo]

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

@thick kraken

[exotic igloo]

Two different think but yes, you will get staking rewards and revenue distribution

[ruby topaz]

Got it. Thanks!!!

[thick kraken]

Sure thing, let me expound. Thank you very much for your input and bearing with me, I appreciate it

What I mean is that when first put money in the staking pool, I got 0.58 ILV a day, I calculated it. This is a way later screenshot and the rate here is I think 0.53 already

[exotic igloo]

Yes

This is normal.

As I explained

More people entered the pool, the amount you get will always fluctuate

It is not a fixed thing

[thick kraken]

Now I'm getting 0.47 ILV ish a day. I claimed rewards yesterday 24 hours ago. This 0.47 has 0.46 from my main Sushi LP, and 0.01 from the ILV pool.

I would like to understand how it got from 0.58 to 0.54 to 0.46. I understand the mechanics but I guess the actual math is not something easy to find ye?

This is the TVL back in Jul 31, Let me post Aug 8 in a bit after the slowmode

[brisk surge]

is there a risk of impermanence loss when staking sushi lp tokens on illuvium or is it as simple as swapping for the lp token on sushiswap then staking it on illuvium and forgetting about it? Sorry, Im new to LP. Thanks

[exotic igloo]

APY is depending on dollar value, price increased, apy increased.

Token amount you get is not dependent on dollar value

Two complete separate thing

[thick kraken]

Here is Aug 9

[exotic igloo]

Yes there is impermanent loss

[brisk surge]

Thanks!

[thick kraken]

Again, I understand all the high-level concepts, they are pretty standard and can easily be found in the whitepaper. What I would like to understand better is how did the token amount I get go down by -18%? Is it because of the -3% every 2 weeks and the -15% we can assume that the Liquidity pool increased by that much in the past two weeks? It's fine if noone has the math Ill just tag it as a mystery

[exotic igloo]

Yes

A lot of people is joining the pool so we all have to share the rewards

[ruby topaz]

Is there an option for us to decide how much of the staking rewards we want to claim as sILV and how much as ILV? Can we set the amount or everytime we claim we have to decide all goes to sILV or all goes to ILV?

[exotic igloo]

No it is a one thing or the other

So you need to decide each time

[ruby topaz]

Ok. Noted. Again. Thanks. Appreciate the effort and time you do this!

[thick kraken]

Thank you, the breakdown is all I wanted to know. This way I can manage my expectations and perhaps in 2 weeks if pool increases by 2x then I will be getting -53% or 0.23 ILV tokens a day if my math and understanding is correct

[exotic igloo]

I just stake and dont do maths

So I dont have expectations

Only great surprises

[thin raptor]

Don’t they do the math for you though

[thick kraken]

It's free and sure money, the little details don't matter haha you are correct. Stressing about it is not worth it

[thin raptor]

So is the yield percentage not a 100% correct me if I’m wrong

If everyone is sharing the pool I mean

[exotic igloo]

The APY is a dollar value

So if the price rise the apy rise

If people enter the pool, apy lowers

[thin raptor]

So regardless in correlation to the dollar or the actual pool price

[exotic igloo]

The real math is how much token you get from your pool weight and token weight compared to others and how much tokens you have

But I dont do maths as I said hahah

Cause the amount of token distributed each day is the same regardless of the price

And lowers by 3% every 2 weeks

[thin raptor]

If it went up in price let’s say would I make more or less?

[exotic igloo]

You would make more dollar

Not more tokens

[thin raptor]

Ok so it correlates

[mint cave]

it is really an impossible task to calculate the APY down to the cent because it changes literally every block and price fluctuation of ILV

[thin raptor]

And what difference does it make from me actually holding it rather than staking

[exotic igloo]

Holding it you get only the price fluctuation

Staking you actually get more token and the price fluctuation

Also you need to be staked to get the revenue distribution

[thin raptor]

That’s what I thought. But thanks for confirming I hesitated for a sec there.

I put a decent amount in and I’m both excited for this project and the twelve month return, I really think this game will be phenomenal 🤞

As similar it is to pokemon yet the ai battle system would require a solid if not flawless algorithm which would take a huge amount of testing, especially by the very end of this project. Sorry I got carried away I just got too excited for a sec

[exotic igloo]

Hahah no worries

Yes there is an AI that is going to run battles to balance the illuvials

it is only data driven so it can go really fast

battles are deterministic

You only see the "movie" of the battle, once it starts it already knows who won

[signal wraith]

I new sorry if this is a dumb question. What wallet are people using to connect to the stake website? I can't find ILV on any wallet

[wooden kiln]

Metamask is the best that I have been using.

[signal wraith]

I can not find ILV on meta mask to send to

[thick kraken]

Try to go to the pinned section, you can swap your ETH to ILV in sushi

[signal wraith]

I have ILV and ETH but i am trying to get it into a wallet that will connect to the the staking website. I have metamask installed but when i look up ILV coin i can not find it to send my ILV

[mint cave]

https://www.youtube.com/watch?v=C6YugU4zZr4&t=292s

timestamped at how to add ILV custom token to metamask

[signal wraith]

Oh ok thank you very much. I am very new to these unlisted tokens

[warm flare]

So I am at the point where I choose flexible or locked. I was going to lock and clicked max for amount but it still wants me to enter an amount?

[wraith charm]

folks who stake for the max amount should get an awesome NFT lol

[ruby wing]

There will be random NFT giveaways forstakers

[wraith charm]

awesome! I did not know that @ruby wing when does this start by chance?

[ruby wing]

Not sure, team is working on the mechanics.

[wraith charm]

sweet!

[exotic igloo]

Its claiming time baby

25 gwei

[tawdry hornet]

Will the revenue distribution come as a direct portion of the rewards tab under staking?
Will it also be part of the rewards which will be compounded daily?

[exotic igloo]

On your balance?

[exotic igloo]

Not sure if it will be claimable from the same pool. More details to come.

[warm flare]

Yes. So I have the screen for sushi lp...in the locked tab and when I click the 'max's button it shows the total slp I have but comes up with a warning message of 'please enter an amount'

But the amount is there...I also tried to cut and paste the slp units but it is same message

[exotic igloo]

Hum

Did you approved them

[tawdry hornet]

Thanks! Could you point me towards the math on how staking rewards are compounded? Is it the same equation used for compounding interest?
E.g., "if" APY is fixed, and if i get 0.5 ILV today, tomorrow will be a bit bigger as the previous rewards are now part of the current principal. Is this correct?

[exotic igloo]

APY is not fixed

It is literally impossible to calculate because you dont know who will enter or leave the pool when and what their token weight is

[tawdry hornet]

Yes I understand APY is not fixed, was just setting an "if" example to simplify the math.

[warm flare]

I thought I did already. Would metamask not ask if I had not approved?

[exotic igloo]

You must use the compounding APY so the ILV pool one

[exotic igloo]

Do you want to go on a call and share screen? It will be way faster

[warm flare]

Ok

[tawdry hornet]

By compounding, the rewards will be part of the principal for the next day, right? Which means the principal goes bigger as time passes, APY in reality will be lower tho.

[north ruin]

Hi just wanted to ask, if I staked sushi LP on a fixed time, is there any point in claiming the rewards as ILV when I haven't finished the period yet? either way I'll still have to wait for a 1 year vest on the reward right?

[exotic igloo]

Depends when you claim

If you claim daily then sure

[ruby wing]

You dont compound if u dont claim

So yes you should claim

[north ruin]

Is that covered on the pinned video as well? just so I know what I'm doing as well

[ruby wing]

Just watch the video and read the medium 28 in #🔗〕helpful-links

Everything should make sense

[ocean lantern]

Thank you. I haven’t used them before. Are they easy to use? I have been asking around as well if there are better options than Binance here in Australia. Have you tried Crypto .com? 🙏🏾

[tawdry hornet]

I see, I thought rewards are automatically compounded, but it is not.
Manually claiming and restaking is the way to add them as a single principal but the gas fees though!

Is there any other way to combine the rewards and the initial staked ILV/SLP than claiming》re-staking?

[exotic igloo]

Claiming stakes them in the ILV pool

Its one transaction

If you stake SLP only claim those

Cause it claims both pools rewards

[tawdry hornet]

Thank you, I didnt know that.
Is the gas fee also dependent on the value to be claimed?

[exotic igloo]

Yes

The more you claim the higher the gas limit will be

[tawdry hornet]

Ok, could staking for shorter intervals in a year be more beneficial due to the compounding effect (cons: gas fee) vs a single locked 1 year staking (pro: higher weight)?

[exotic igloo]

Longer is better

[iron token]

I noticed the standard ILV stake has a lot lower APY than SUSHI LP, is there any reason for me to not do sushi lp?

[cyan rampart]

Staking to the LP carries a risk of impermanent loss. If you're aware of IL and not concerned about it, there's no reason not to.

[iron token]

Ah okay, thanks

[cyan rampart]

This might be a dumb question, but is the value of sILV permanently tied to the value of ILV in terms of its' usage for in-game purchases?

i.e. if doing something in game costs $60 of ETH, and ILV is at $240, I can purchase said thing for .25 sILV?

[exotic igloo]

Yes

Pegged 1 : 1

In game

[cyan rampart]

That makes things easier haha - was considering the implications of claiming sILV at ILV peak price if it was seperate.

[brisk surge]

I have never done staking before and did some research and came in here and was wondering if yall think it is a good idea to stake and for how long and if it should be flexible or locked

[misty ruin]

Have you read the medium tutorial on staking, and watched the pinned video about staking, and read some of the comments on this channel?
Because that should give you quite a number of answers. And then, I guess it all your choice.

[surreal crater]

not financial advise, but imo staking is great, locked or flexible depends on you, I personally find the ILV/ETH LP staking on flexible to be great

[misty ruin]

If I claim rewards (which accrued from both pools), will it need two different transactions, or only one?

[exotic igloo]

It's in the video under best pratices to claim

😉

It 2 transactions

You claim the SLP pool

And it will claim both

[misty ruin]

Right, so the message popping up saying « transactions » makes sense

[exotic igloo]

yes

[misty ruin]

I hesitated because staking asks for claiming, but all is done in one (costly) transaction.
But I definitely should have watched the video I even mentioned right above... taken at my own game! 😆

Thank you!

[stray steeple]

so how much illuvium is it worth having to stake in the Sushi LP pool?

[full sedge]

15+ in my opinion

[stray steeple]

i only have like 4 rn and have been waiting to stake depending on whether i should do Sushi LP or just ILV staking

[kind loom]

You can always stake flexible until you accumulate enough, then put it in SLP

[languid pine]

Guys, I bought 3.962 ILV what should I do? >.<'

[slender ocean]

buy equivalent amount of ETH... stake in LP pool for 650% apy... lock for 1 year -NFA

[exotic igloo]

https://www.youtube.com/watch?v=C6YugU4zZr4

You can stake

[languid pine]

I saw this video, and a lot of others, but I'm still confused by the "claim" system. ;/

[exotic igloo]

What don't you understand

We can help

[tame vault]

if you do locked and you stake using rewards as sILV can you only claim the sILV after the locked duration or you can claim the sILV even if its locked?

[slender ocean]

you have to try before u understand

its just the way it is... it wont be clear until you experience it first hand

ideally you do a test buy or test amount... so you understand things... then you can make a decision for the rest of your money

[mint cave]

you can claim any and all rewards your locked stake generates at any time (after a minimum of about 0.01 ILV is generated)

if you claim sILV, it is available immediately.

if you claim ILV, it will start a 12 month unlocking period, where it will generate additional rewards as it unlocks just like your initial stake does.

[languid pine]

I thank you for that.. but.. for real, I don't even know where to begin.

[languid pine]

Let me ask you this, if I stake in the ILV pool as flex, can I change it to locked afterwards?

[slender ocean]

yes...

do it now... stake it in the ILV pool for 1 week... the experience will answer like 80% of your questions

[tame vault]

ok thank you for the answer

[languid pine]

right.. I trying to wait for a better gas fee. where do you guys check it? I'm looking on ethechain.org

[mint cave]

gasnow.org

[languid pine]

something I do not understand.. why is saying " 36 gwei - $2,29" and when I'm about to stake it costs 40? O-0

[quartz gyro]

hi guys can i ask something in staking?

[mint cave]

because that is the estimated price of the most simple ethereum transaction, an ETH transfer from wallet to wallet.

the price of a transaction is determined by how "complicated" it is

[quartz gyro]

why my liquidity pool button in sushiswap disappeared?

[languid pine]

you're in the right place for that my friend.

[exotic igloo]

https://app.sushi.com/add/ETH/0x767FE9EDC9E0dF98E07454847909b5E959D7ca0E

[languid pine]

how much can I assume it's a good price to pay?

[quartz gyro]

like i want to buy slp

[mint cave]

if you look at gasnow.org under the "estimated cost of transactions" panel you can see estimations for various common DeFi applications

[quartz gyro]

and what is this approve ilv spend limit mean?

[mint cave]

are you asking how much gas fee is a good amount? lately a lot of us have waited for 20 something gas to do transactions...but that's a gamble and it will always fluctuate depending on network usage.

[exotic igloo]

Means it is the first time using this protocol

So it needs the approval to use your ILV balance

[exotic igloo]

https://www.youtube.com/watch?v=C6YugU4zZr4

[quartz gyro]

so is this the step where I already got my SLP?

[dawn lily]

What is actual difference between the ILV and SLP staking pools? Just that one is locked and the other isn’t?

[exotic igloo]

Watch the tutorial please. It is explained.

[exotic igloo]

Both pools can be locked or flexible.

[dawn lily]

Ok. Thanks. What is the difference then?

[exotic igloo]

One pool is for the ILV token only and the SLP pool is for those providing liquidity on the sushiswap pair

[dawn lily]

Oh. Gotcha. Do most people stake on one or the other or do you stake on both?

[quartz gyro]

missing bar below

[elder dawn]

you can do either or both. slp required committing ETH as well as ILV

[exotic igloo]

Refresh the page, click max on ILV and make sure your wallet is on the mainnet

[final steppe]

It all depends on your plans as well as your tolerance for risk. The SLP pool is more risky as you are contributing both ETH and ILV and there is risk of impermanent loss.

[exotic igloo]

I would not recommend you to stake in SLP

[quartz gyro]

nothing happening mate,. already got into mainnet metamask and refereshed the page

[dawn lily]

What is the ratio of ETH to ILV in the liquidity pool?

[exotic igloo]

50 : 50 in dollar value

[exotic igloo]

Click max but on the ILV balance

Nvm

I can see by your balances that you dont have the ETH for the pairing

[quartz gyro]

what do u mean by pairing? I need to divide my total eth into 2? 1 for ILV and 1 for eth?

[dawn lily]

Ok. Thanks for your help! I’m fairly risk averse but I plan to invest a decent amount into ILV because I believe in the project. I think I would rather stake my ETH elsewhere and just stick to staking ILV.

[languid pine]

As far as I can tell, correct me if I'm wrong someone. For you to do a LP you need to have the same amount of ILV in ETH. For example, if you have 10 ILV, you will need to have the same value in DOLLAR as ETH.

[final steppe]

This is correct.

[elder dawn]

yes, if you are planning to do the SLP, take half of the amount you want to invest, get ILV, ensure the other half (plus gas fees) are available in ETH, then add to liquidity pool, then stake that on the Illuvium site

[quartz gyro]

Oh I see. Already bought all my ETH to ILV. Now I dont have enough balance for that

[exotic igloo]

Please watch the tutorial to the end

The ending part is really important

Concerning SLP staking

[languid pine]

Happens to the best ones.. if you don't have more to invest.. go for the ILV pool. Or wait.. and get more ETH afterwards.

[quartz gyro]

thanks tissa for the clarification

[languid pine]

Me? No no, you can thank the great community here, I'm just a newb trying to find myself in this new world o-o

[dawn lily]

Is it common to stake in a ladder format, similar to a CD ladder, to avoid locking up your whole balance of ILV for 52 weeks?

[elder dawn]

remember you are going to need ETH for the transaction fees as well, so keep some ETH available, or you won't be able to interact with the staking (can't stake, can't claim your rewards).

[exotic igloo]

You can choose different amount for different time yea

[languid pine]

for me you just spoke Chinese, my friend 😵‍💫

[elder dawn]

the downside of this is you are multiplying your transaction fees.

[brisk surge]

Only works with metamask?

[mint cave]

very strongly recommended

[languid pine]

Is that you on the youtube video?

[dawn lily]

Sorry, @languid pine ! It’s common in certificates of deposit, when you make an invest for a set amount of time to do investments that “unlock” at different intervals in case you suddenly need your money. This way you don’t have to wait a full year.

[brisk surge]

Tried with trustwallet and it showed me 0 ILV balance on the stake site

[mint cave]

rah's voice and demonstration, my editing 🙂

[languid pine]

Hmm, sounds nice 😊

[dawn lily]

Yeah, that’s what I was thinking. If you stake for 52 weeks, do rewards compound if you do nothing or do they just sit there?

[languid pine]

Oh.. I don't know this rah, but he sounds nice. Cool guy, both of you! Thanks for the video o/

[mint cave]

you have to claim your rewards for them to compound

[elder dawn]

they just sit there until you claim. claiming moves them to the ILV pool at 2x weight, and starts the 12 month vesting period

[mint cave]

rah is the purple text guy a few replies above you 😄

[dawn lily]

Gotcha. So, the 52 weeks starts when you claim and you will have to pay gas to do that, correct?

[languid pine]

Ooooooooooooooh Rahlord, I see. hihi 😛

[brisk surge]

So you stake for 12 months and the rewards will be vesting another 12 months ?

[elder dawn]

yep, lots of gas fees incoming. it's going to be a balancing act of when to claim to start the vesting and compounding, versus the transaction fees.

[mint cave]

you can lock your initial stake for 52 weeks yes, then every time you claim rewards, at the time of claim they are locked for 52 weeks

[dawn lily]

Guess I’ll be watching gas fees all day now. Need it on the Home Screen of my phone. Lol.

[elder dawn]

me too. already added "eth gas prices" to my phone.

[cyan rampart]

Gas is dirt cheap rn isn't it?

[brisk surge]

yeah its not bad atm

[fossil prairie]

is there a specific application for this? i also want to see it all the time

[plain hinge]

hey guys bit of a noob at this, is it normal for the ILV + Eth pairing takes a while? i set it up and after an hour i clicked the speed up button and accepted the extra gas. 30min later its still processing but the speed up button isnt there any more

[elder dawn]

I just added an app I have to click on. I don't want to be that obsessed seeing gas rates constantly. To me, the first step is wait for the ILV reward to get sufficiently high (personal preference relative to gas fees), then start tracking gas to optimize when to claim.

[fossil prairie]

i see that's pretty good thing to keep on track when claiming the rewards. can you share to me the name of this app if you dont mind?

[elder dawn]

check out your transaction on etherscan (https://etherscan.io/) and see what the status is. you can also see what your gas rate was relative to the current price.

[elder dawn]

literally i just search "eth gas price" and there was an app named that. tried it, and it does what I want- shows the current gas prices.

[plain hinge]

it just had the completed transaction pop up but i still have the same amount of ILV in my metamask and no SLP. should i do that transaction again? sorry for the questions and thanks heaps for the help

[tame vault]

if you lock for 12 weeks and you claim the ILV do you still need to wait 52weeks vesting period or 12 weeks?

[ruby wing]

52 week vesting for ILV rewards

[fossil prairie]

thank you brother

[plain hinge]

oh sry what i was waiting for was the ILV approval so now i gotta do the liquidity

[fast crest]

Guess it time to learn how to turn my € from the bank into ILV

[tame vault]

ok thank you

[plain hinge]

been reading above comments and just wanted to check something.... if i do the locked staking for 52 weeks, can i still withdraw SILV during that period? As i understand its only the pure ILV i cant claim for the 52 weeks

[fresh grail]

Silv can be rewarded straight away, but will be an only in-game token

[jagged spindle]

Yes, but Silv is in-game

[plain hinge]

yeah awesome im buyin in for the game. so ill do fixed for 52 weeks and if at the end of 52 weeks i still have some left in there then i can claim it as pure ILV correct? sorry again for bein bad at thins. more of a gamer than a crypto expert

[jagged spindle]

Yes

[fresh grail]

So you can claim ILV when ever you feel is right, but it will be locked for the 52 weeks from the time of claiming.

[plain hinge]

ohhhh thanks

[fast crest]

Or you Claim it as sliv

[jagged spindle]

https://gyazo.com/99ecafc5c7aefecf5589ad500337652d this is close to two weeks of staking SLP @plain hinge I took out my rewards and it auto stakes for 1 year

I can also take out sILV for a lower amount, but I get more profit off the ILV staking

[fresh grail]

If you want more money for in the game then sure go for silv, but because the game isn't going to be out for a few months it would make more sense to claim as ilv instead

[plain hinge]

yeah this is only a small investment aimed at playing the game so i think ill still do the 52 weeks. i (possibly stupidly) think that claiming as SILV and puting it to good use in the game could yield better returns than the pure staking. (heavily dependant on how the market of the game runs) Plus i just wanna be able to play the game

[fresh grail]

But everyone has a different standpoint or view in terms of what they want to do.

[jagged spindle]

I mean I can remove rewards as sILV more often than I could before.

Instead of just .67 SLP working for me I now have .63 ILV also and they are both weighted at 2x

[plain hinge]

im assuming claiming sILV will let me buy shards to get more illuvials and then sell those illuvials on the market (or probably hoard them and collect more coz im a nerd lol)

[wintry yew]

@jagged spindle what did you start with?

[jagged spindle]

@wintry yew I started with approximately 1k

[wintry yew]

wow you've done pretty well. have you liked being staked in the SLP pool

[jagged spindle]

$500 dollars in two weeks isn't bad that means in about 2ish more weeks I'll hopefully 2x. Yes I do a lot, but I love the community more very helpful and supportive. I haven't seen one toxic person.

[elder dawn]

same - enjoying the community as well, and makes me feel good for the future of the game (and my investment 😉 )

[jagged spindle]

@wintry yew Yea I tried to get a lot of people I knew into it... Some listened and other didn't this was at the $120 price range

[wintry yew]

wow feels bad for them. but yea ive wanted to go into SLP for the return but I've only been able to put in 1-2 ILV at a time so wasn't sure if it was worth to stake into that pool

[jagged spindle]

I'm not even panicked it dropped $80 dollars because it went up close to $200 so quick it had to drop a little before it mooned

[fresh grail]

These same friends probably bought XRP because it was "cheap." Don't worry I have these friends.

[wintry yew]

right i have no problem with it dropping. if anything its more of a chance for me to buy in 😄

[jagged spindle]

@fresh grail Yea, I'm hoping I can pay off some stuff with my profits I recently got fucked lmao.

[fresh grail]

I was in the red from 2017/2018 until December last year. I know how you feel.

[jagged spindle]

Yea my debt looks like -13k, 10k of it was a ex-friend.

[fast crest]

Do you think, it's too late for investing into ILV :-)?

[patent moss]

gas fees for staking are crazy high

[jagged spindle]

The gas is actually really low right now tbh

[wintry yew]

Nope. especially with the current drop i think its a great time. Just bought more today

[fast crest]

Okay, thanks. But i still lack crypto-knowledge xD

[wintry yew]

Lol thats fair. It's worth it to do some solid research on illuvium tho, it has potential!

[fresh grail]

Up to you, when you look at this current run maybe. Overall no. The game isn't out, Kieran and Aaron keep adding new members to the Dev team. If anything you're early. For me the tokenomics are one of the best I have seen for any project and in relation to the MC, we still have a way to go. Like Frijax says, just spend your time reading the White paper, the Medium post and learning more about it

[jagged spindle]

I'm just so interested in the game that 1k spent to play this is good enough for me

I just wanna be happy and catch some monsters

[lapis lark]

When you claim from the rewards and it gets staked automatically, will it be unlocked the same time as when you first staked?

[fresh grail]

https://tenor.com/view/gotta-catch-em-all-gif-5662253

[fast crest]

I want scorpions ^^

[jagged spindle]

@lapis lark It stakes itself into a 52week stake

[fresh grail]

Nope, 1 year from when you claim

[jagged spindle]

@fresh grail I want whatever is on character leaks rn

[fresh grail]

hahaha same. I wouldn't mind claiming some Silv closer to game release so I can use them to cure shards to catch a shit load of Atlas'

[ashen tusk]

Just did my first staking and joined the server

[jagged spindle]

@fresh grail Exactly yyayayaya! The more ILV you claim the more rewards you get 😄

[fresh grail]

Welcome and enjoy the ride. If you have any questions please ask and someone will help or try to point you in the right direction.

[ashen tusk]

Not really... I'm coming from axie But thank you very much

[fresh grail]

https://tenor.com/view/wolf-of-wall-street-jordan-belfort-leonardo-di-caprio-one-of-us-jonah-hill-gif-5441859

[brisk surge]

Great to have you with us 🚀

[jagged spindle]

@ashen tusk Axie looks hella expensive to even get into it...

[ashen tusk]

I'd recommend it if you haven't already

[jagged spindle]

Isn't

Sorry jungle invade lol.... I said isn't it like 1k to get into it

[ashen tusk]

Around that or a bit more for a single competitive team

But the value is there

Best nft game in crypto

[jagged spindle]

Yea not sure about that after this releases. I have more hopes in this than I do my own life

[fast crest]

So the way to get ILV is...
Fiat-Money (€ for me) to BTC (Bitcoin) via e.g "coinbase"
Than transfer the BTC into another wallet via gate.io (where they trade ilv) and there exchange for it.

Is this the way it should work :-)?

[jagged spindle]

Do metamask?

@fast crest

[fast crest]

AFK asking google what metamask is

[jagged spindle]

Its a plugin on chrome for a crypto wallet

[fast crest]

Or a smartphone app. Guess i will give it a try, thanks

[jagged spindle]

@fast crest yes, it's both

[mint cave]

https://www.youtube.com/watch?v=C6YugU4zZr4

[mint cave]

there is a guide to setting up metamask in there beginning at 01:23

[fast crest]

Thanks Sir

[jagged spindle]

@fast crest metamask is my go to wallet and it's pretty good at getting best prices.

[rich timber]

if I get sushi LP how do I change it back to ilv/eth?

[jagged spindle]

You go to the pool, I'll take a screenshot @rich timber

https://gyazo.com/2bbf9e510ba6df54b19208de1f4d6de8 @rich timber Hit remove then do 100%

[rich timber]

oh i see, thanks

[jagged spindle]

No problem 😄

[median adder]

Hi guys new here, just wondering why I would stake ILV instead of Sushi Lp when the APY is so much higher

[wheat lion]

with the sushi lp your exposed to both eth and ILV movements, if say ILV moves significantly more you are exposed to impermanent loss, you miss out on some of the gains, the APY is pretty rewarding though and given the run up I think its a decent option. https://dappgrid.com/what-is-impermanent-loss/ Other things to consider is how your country handles staking and tax, there may be different tax implication in staking vs just holding

[gloomy gazelle]

SLP has some negatives… The gas costs of transactions is higher. The impermanent loss. Higher risk (two tokens).

[junior shuttle]

anyone know current claim cost for slp?

i can check core easily by looking and rejecting but cant check slp

[median adder]

Would you guys recommend lock staking or flex staking the ILV?

[gloomy gazelle]

I don’t exactly. But I think it’s close to 2x the cost of the ILV only claim transaction.

[wheat lion]

your choice, locked increases the yield, but you can't sell whilst locked

[median adder]

was planning to lock till around release date

[jagged spindle]

@median adder Locked has 2x weight

[median adder]

just worried that spending it in game would be more cost efficient than staking them long term

[jagged spindle]

@median adder then stake half and flex the other half

[median adder]

true I forgot that was an option 🙂

[jagged spindle]

@median adder I staked 1k and so far in two weeks I got about 225 back. So easily by the time the game comes back you can have money in-game

[median adder]

I only have 300 usd in ILV (Using mining ETH money), I'm just not sure the approx prices of in game things so I'm not sure if its even worth lock staking

[gloomy gazelle]

Because the lock time is anything from 1 week to 52 the weight is also variable 2x weight is only for if you lock for the full 52 weeeks

[jagged spindle]

@median adder Yea it'll take some your money for sure to get in.

[plain hinge]

just double checking... even if i lock for 52 weeks, can i still claim silv at any time to use in game? its only if i claim as ILV that i will then have the year to wait?

[fresh grail]

correct

[jagged spindle]

@plain hinge Yes, but if you claim ILV it'll give you more rewards quicker. Meaning you'll be able to collect more sILV. I won't start doing sILV until I have like 4+ ILV

[ripe finch]

hello, if we don't collect the rewards, do they generate revenue?

[mint cave]

no, they must be claimed to generate additional rewards

[ripe finch]

oh shit, thanks

[plain hinge]

@jagged spindle so if ive locked in for 52 weeks are u sayin i should claim that right away as ILV?

[manic spindle]

Rewards from staking have to be manually claimed and GAS fees for those transactions have to be paid:

• When you stake ILV yield farming rewards start piling up for you
• You claim those rewards whenever you deem the pile to be big enough to justify gas fees
• If you claim sILV you have it unlocked right away (sILV is only usable in game as a substitute currency for ETH outside the marketplace and the Leviathan Arena)
• If you claim ILV then that batch of ILV gets locked for 12 months and automatically staked in the ILV pool with a token weight of 2.0 for compounding effect
• New rewards start piling up....rinse and repeat

NB: ILV paid out as part of Illuvium’s Revenue Distribution have to be claimed as well but are not subject to a locking period.

[plain hinge]

@manic spindle thanks

[copper tundra]

Im wondering what is the benefits from staking in the LP pool

[manic spindle]

Higher APY at Higher Risk 🙂

[jagged spindle]

I love risk

[austere parcel]

does that mean i can choose between ILV and sILV everytime i claim my rewards? or am I locked into ILV or sILV once i first redeemed one of them?

[manic spindle]

You can choose one or the other every time you claim. But it will always be applied to the whole rewards pile at that point in time 🙂

[austere parcel]

awesome, thanks! on a sidenote: it's great to see how active the devs are in this discord. my main reason for aping into this project 🚀😍

[cyan rapids]

sorry couple of noob questions 1) If i claim ILV it will be locked for 12 months after claiming and i wont be able to sell it ? 2 ) Why is sushi staking riskier than normal one

[manic spindle]

Rewards from staking have to be manually claimed and GAS fees for those transactions have to be paid:

• When you stake ILV yield farming rewards start piling up for you
• You claim those rewards whenever you deem the pile to be big enough to justify gas fees
• If you claim sILV you have it unlocked right away (sILV is only usable in game as a substitute currency for ETH outside the marketplace and the Leviathan Arena)
• If you claim ILV then that batch of ILV gets locked for 12 months and automatically staked in the ILV pool with a token weight of 2.0 for compounding effect
• New rewards start piling up....rinse and repeat

NB: ILV paid out as part of Illuvium’s Revenue Distribution have to be claimed as well but are not subject to a locking period.

Providing liquidity for ILV is done via an ILV/ETH Pool on SushiSwap and requires a few different steps compared to staking only ILV. These steps are the following:

• You acquire a 50/50 ratio of both ILV and ETH (in $)
• You go to: https://app.sushi.com/add/ETH/0x767FE9EDC9E0dF98E07454847909b5E959D7ca0E
• After approving the contract (if this is your first interaction with it), you stake your 50/50 ratio of ETH and ILV in the pool
• You receive SLP tokens (To see them, add the SLP contract address to your wallet: 0x6a091a3406e0073c3cd6340122143009adac0eda)
• You go to: https://staking.illuvium.io/staking/core
• You can now stake your SLP Tokens in the Sushi LP pool just like ILV is staked in the ILV pool.

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

You can also find a detailed staking video in the pinned messages 🙂

[cyan rapids]

thanks for the help, i will watch them now 🙂

[tawdry hornet]

Very helpful notes.
Few questions though:

1. if im going to add new ILV to the stake that is currently locked. What happens to the locked period originally set? Will the rewards be automatically claimed/vested and compounded with the new and old staked ILV?
   2)is the revenue distribution also going to be dependent on the pool weight and token weight?

Thank you!

[manic spindle]

When you add a new deposit it get's added as a separate deposit. You can see all batches (deposits/claimed rewards) under "Vesting". So you could have multiple deposits either unlocked or locked with different locking periods 🙂

RevDis takes token weight into consideration but not pool weight.

[long canopy]

@manic spindle is it possible to staking in both ILV and SLP? I staked in ILV already but can't seem to stake in the SLP.

[manic spindle]

Providing liquidity for ILV is done via an ILV/ETH Pool on SushiSwap and requires a few different steps compared to staking only ILV. These steps are the following:

• You acquire a 50/50 ratio of both ILV and ETH (in $)
• You go to: https://app.sushi.com/add/ETH/0x767FE9EDC9E0dF98E07454847909b5E959D7ca0E
• After approving the contract (if this is your first interaction with it), you stake your 50/50 ratio of ETH and ILV in the pool
• You receive SLP tokens (To see them, add the SLP contract address to your wallet: 0x6a091a3406e0073c3cd6340122143009adac0eda)
• You go to: https://staking.illuvium.io/staking/core
• You can now stake your SLP Tokens in the Sushi LP pool just like ILV is staked in the ILV pool.

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

There is also a detailed video about this in the pinned messages 🙂

[unreal urchin]

Does SLP pool eligible for RevDis too? And if it does how do will it be count? Is it based on how many ILV in the SLP or it counts both ETH and ILV in the SLP?

[manic spindle]

Both core pools are eligable equally for RevDis. What counts for RevDis in the LP Pool though is the amount of ILV you have which - depending on your IL - could go down of course.

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

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

[tame vault]

when you start staking do you need to set which reward you will have to take at the beginning (ILV or sILV) or you can decide a month later what you would like to get as a reward?

[cunning perch]

Every time you claim you will choose which one you wanna claim.

[tame vault]

i see thank you

[ruby topaz]

Thanks for this explanation!! I would just like to clarify, when we play the game, based on my understanding there are 2 types of rewards:

1. ILV obtained from playing such as pvp, quests etc
2. Revenue generated from the Vault and distribute it to ppl who have staked.

Am I correct?

If yes which category does your revenue distribution not subjected to locking period falls under? Or both of the above are not subjected to locking period?

[manic spindle]

You can get ILV as in game yield (details still to be disclosed but probably for sure in parts from arena/tournaments), yes. This is completely unrelated from staking though. You can get either ILV or sILV by staking ILV and thus participate in receiving yield farming rewards. On top of that, staked ILV will let you receive unlocked RevDis in the form of ILV as well.

Nothing staked? No RevDis and No yield farming rewards. In that case, you can only earn by somehow getting some of those in game ILV or by wagering ETH in the leviathan Arena or by selling NFTs on the IlluviDEX.

[long canopy]

Got it thanks...these gas fees though

[rich timber]

time in the market > timing the gas fees

[ruby topaz]

Great! Thanks for the explanation. Clear enough for now. Just another quick question. If I currently have 0.99 slp or 3 ILV+eth staked in sushi LP pool, if my rewards reaches 1 ILV, if I claim and restake it, does it go into the solo pool and stake for 12 months? Or does it go back into the sushi LP pool? Or do I have a choice?

In summary
If I claim my 1 ILV reward does it mean I will continue to have my 0.99 slp in sushi LP with 660% APY + 1 ILV in solo pool earning at 100% APY? (The percentage is just rough figure. I know they change over time). Hope this is not too confusing.

I’m just trying to understand how claiming rewards work for the sushi LP pool should I decide to claim in ILV. Thanks again.

[quiet vigil]

At least in game gas fees are taken care of through Immutable X

[manic spindle]

When you claim LP Pool rewards it always claims rewards from both pools (so consider Gas fees when claiming at all times). Also, any rewards claimed as ILV are locked for 12 months and staked automatically in the ILV only pool with a weight of 2.0

[strange ermine]

i had a question on staking, if i stake a few ilv then come back and want to stake more ilv, can i add it to my existing pool or do i have to create a new one? i'm not talking about the sushiswap pool but the other one

[manic spindle]

#🥩〕staking message 🙂

[quiet vigil]

Yes

[strange ermine]

ah okay, but then does that mean i need to claim rewards separately for each allocation or do the allocations get combined and you only have to claim the rewards once?

[quiet vigil]

Once. Claimable rewards will be shown in one balance on your Staking Dashboard

[manic spindle]

Your Yield Farm rewards from staking pile up in one single pool 🙂 Rewards from staking have to be manually claimed and GAS fees for those transactions have to be paid:

• When you stake ILV yield farming rewards start piling up for you
• You claim those rewards whenever you deem the pile to be big enough to justify gas fees
• If you claim sILV you have it unlocked right away (sILV is only usable in game as a substitute currency for ETH outside the marketplace and the Leviathan Arena)
• If you claim ILV then that batch of ILV gets locked for 12 months and automatically staked in the ILV pool with a token weight of 2.0 for compounding effect
• New rewards start piling up....rinse and repeat

NB: ILV paid out as part of Illuvium’s Revenue Distribution have to be claimed as well but are not subject to a locking period.

[strange ermine]

great thanks, i get it now. thank you both 🙂

[ruby topaz]

Alright. Thanks!!!

[quiet vigil]

I want the community to thrive. Let's grind

[long canopy]

Yep, I keep telling myself staking is worth it. Usually I keep away from ETH network but I believe in this project.

[quiet vigil]

I believe Etheruem will always be a major player within the crypto space. Interoperability between protocols will serve it's purpose in the future

[noble escarp]

Any way to just retrieve the ilv ( the claimed one) without having it automatically locked for 12m ?

[manic spindle]

No. This project and it's tokenomics are set up for longevity. Claimed ILV from Yield Farm will be locked for 12 months. No way around that 🙂

[noble escarp]

Thank you, i assum the same applies to the rewards from the ilv only staking

[manic spindle]

Rewards from any pool, core or flash, are all piling up in the same rewards pool together, so yes 🙂

[keen verge]

Does anyone know why does it cost gas fee to claim my ILV rewards when my coin is going to be vested instead of going into my wallet?

[manic spindle]

Because it still is a transaction executed on the Ethereum Mainnet 🙂

[keen verge]

will i have to pay another gas fee for withdrawal?

[manic spindle]

Withdrawing when rewards unlock is a transaction as well, yes.

[keen verge]

why is it made that way?

[manic spindle]

Transactions on the Ethereum Mainnet cost gas. That's nothing the ILV team has any influence on. You'll have to take that up with the ETH community 🙂

[keen verge]

reward claim shouldnt cost gas fee when its still in illuvium company wallet

since its vested with illuvium??????

[manic spindle]

ILV is an ERC-20 token that exists on the Layer 1 ETH Network. Any transaction on that network costs gas. That's just it and while I understand that you would like it differently, again - this is nothing the ILV team can change.

[keen verge]

if its a transaction to my wallet, i should have full control instead of it being vested?

[quick locust]

Dears, need some guidance, currently staking ILV, however, thinking of moving to ILV / ETH to go after more APY. ANy suggestion if that move is worth it. Just to mention, to make that possible i need to sell ILV to buy ETH - that needs to be taken into consideration

[manic spindle]

You participate in the staking process based on the tokenomics of the protocol. If those are not to your liking, then you shouldn't participate. Everyone is free to decide where to put there money. But you might wanna check up a bit further on how the tokenomics of this DAO are set up.

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

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

[normal blaze]

Stormi what’s up? Do gas fees go higher the bigger the reward u claim?

[manic spindle]

I'm not 100% sure how the size of your claimed rewards ties into gas fees, sorry. @hexed bough could you maybe elaborate on that?

[normal blaze]

Trying to claim 0.5 right now and it cost $40 in gas , is that normal ?

[exotic igloo]

The team changed the gas limit estimations to make sure that the out of gas errors were not happening anymore. So it seems expensive but once the transaction is completed you will see that it uses only about half the gas.

Also, the more you claim, the more gas it needs.

[ruby topaz]

Would this be different once layer 2 solutions like Immutable X is set up? Or does that only affect in game transactions and staking will stay on the eth main net?

[normal blaze]

So ur saying.05 right would be $20 not 40, and one Ilv would be $40 or does the percentage change the more u claim?

[manic spindle]

Staking remains on the Mainnet, yes 🙂

[ruby topaz]

Noted. Thanks.

[pseudo crypt]

i have a question in regards to the current APY if locked for 52 weeks

the APY currently showing at 600% + that we seeing right now is subject to change right?
meaning even tmr if we see the APY changed to like 20% the staking amount remains locked for the 52 week duration right?

[manic spindle]

Yes, if you look for 52 weeks you will not be able to withdraw before that regardless of what the APY does 🙂

[pseudo crypt]

understood thanks, the other thing i am quite confused about that i am currently only staking SLP staking

lets say it's 1 SPL staked and locked for 1 year, does that mean that 1SPL + the rewards are locked up for this 1yr period ? and unlocks automatically after 1 year? if so why do i see on the dashboard that there is another option to claim rewards now ? thats the part i am confused about ... please kindly explain thanks

[manic spindle]

Locking periods from claimed ILV batches and deposits (if a locking period was chosen) are separate from one another and each individual batch can be seen listed under "Vesting".

Rewards from staking have to be manually claimed and GAS fees for those transactions have to be paid:

• When you stake ILV yield farming rewards start piling up for you
• You claim those rewards whenever you deem the pile to be big enough to justify gas fees
• If you claim sILV you have it unlocked right away (sILV is only usable in game as a substitute currency for ETH outside the marketplace and the Leviathan Arena)
• If you claim ILV then that batch of ILV gets locked for 12 months and automatically staked in the ILV pool with a token weight of 2.0 for compounding effect
• New rewards start piling up....rinse and repeat

NB: ILV paid out as part of Illuvium’s Revenue Distribution have to be claimed as well but are not subject to a locking period.

[pseudo crypt]

• When you stake ILV yield farming rewards start piling up for you

sorry i dont understand this part, what does piling means?

• You claim those rewards whenever you deem the pile to be big enough to justify gas fees

so lets presume he APR remains constant at a 200% and i staked 1 SLP locked for 52 weeks. Does that mean througout the period of this 52 weeks the rewards from the stalking is being paid out constantly right? and if i just leave it there unclaimed for the duration of the entire 52 weeks i would get 2 SLP worth of ILV as reward correct? but the fact that because i havent been claiming my rewards on a constant basis, those will also get locked for another 52 weeks if i dont actually make the claim of my rewards until the end ?

which means i will have to wait another 52 weeks before the rewards from the staking is unlocked?

is it just me .... or something doesn't sound right ?

[manic spindle]

You can claim at any time because rewards are paid out every block so roughly every 15s. You decide when you deem the amount of rewards waiting to be claimed as enough to justify gas fees. If you would wait an entire year before claiming anything, then yes, if you claim ILV at that time, you will have to wait another year before they are unlocked.

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

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

[pseudo crypt]

ok thank you for your clarification

[viscid ferry]

Hi.. I'm trying to stack my ILV.. Metamask shows a gas limit of 475783 unit.. Am I really going to be charged that much of gas?

[brisk surge]

@viscid ferry Most likely a glitch have you tried refreshing the site and trying again?

[ember basalt]

can we claim all rewards that have finished vesting in 1 transaction?

to save on gas fees

[gloomy gazelle]

No. Unless something is changed with the staking contract

[ember basalt]

oh that's kinda sad for me, i did stake for consecutive days so i have some that are vesting for like a few decimal points of ilv.

i hope they push out a feature to help with that 😄

i'm guessing for now i'll wait for around 5 ilv or more of rewards before claiming

[gloomy gazelle]

Yeah it’s a bummer. those all in SLP face this issue as well when they make their first few claims. There’s a pretty long time to figure something out though before they unlock. And one day maybe ETH 2.0 will be the answer to has problems.

[ember basalt]

yea i have both SLP and ILV so it's kind of a bummer to claim the rewards for ILV when they're so low.

I'm thinking the compound interest also offsets those gas fees anyway so it's not much of a loss

[lofty cradle]

Could someone please enlighten me. I have staked my ILV for 12 months. Are my Rewards automatically staked also or will i need to claim them as ILV or sILV and then re-stake that?
Cheers

[gloomy gazelle]

What I’d personally like to be able to do is claim the ILV pool reward as sILV and the SLP rewards as ILV. Or vice versa

[ember basalt]

ohh that'll help too

[viscid ferry]

Just tried refreshing Illuvium site.. Still the same.. Gas Price fluctuates between 30-50 Gwei.. but Gas Limit is fixed at 475783.. which makes Gas Fee between $40-80, if the Gas Limit is to be 100% consumed.. Is it normal?

[gloomy gazelle]

When you claim them as ILV they are automatically staked while they vest. sILV cannot be staked

[gloomy gazelle]

Probably. The transaction is fairly complex. And there may be better estimates on limit that previously. There have been cases or running out of gas. But there’s a reasonable chance it won’t hit close to the limit. A couple people have experienced that.

[lofty cradle]

thanks @gloomy gazelle that's really helpful.

I am guessing I would need to pay gas each time I claim as well. I am just trying to figure out the best option of claim and stake cycle. I would like to keep it in as long as the game is still coming

[viscid ferry]

The transaction which approves Illuvium of accessing my wallet, which I've performed just now.. did used up 100% of gas limit .. 😅

[magic laurel]

Is it worth staking 100 in the ilv pool or will gas eat it up

[brisk surge]

Everyone has different strategies. I like to compound when gas is 10% of what I'm claiming at max

[grizzled kindle]

So I understand I pay gas to stake my ILV/SLP, then I pay gas to claim the rewards from staking. I'm just trying to find out if I will also have to pay gas once the vesting period is over both claimed rewards and staked ILV/SLP?

[brisk surge]

yup

[lofty cradle]

Again great to hear a strategy from someone else point of view. Thanks

[grizzled kindle]

I hope gas is cheaper by this time next year then. I've been claiming rewards fortnightly which is painful enough. Didn't realise I would be doing the same after the vesting period.

[brisk surge]

Aaron has mentioned maybe having a way to harvest all available vesting rewards, but that's not guaranteed

[jagged spindle]

Perhaps they will then turn over to flex staking. I’m not sure

[grizzled kindle]

That would be lifesaving 😅 I shouldn't complain about gas too much, the gains from this project are immensely outweighed the gas at this point.

[grizzled kindle]

Yeah I would say they have seen everyone's worries about gas issues. We will have to wait and see.

[brisk surge]

Hopefully eth 2.0 will just make gas woes a thing of the past. I've been playing around in the WAX world where that's already a thing...man it's completely different over there.

[jagged spindle]

@grizzled kindle still worth to pull it out of SLP once you hit a certain amount in my opinion cuz then you’re not earning rewards on the ilv you have

[final steppe]

Haha yeah, I think we are ALL hoping he can. I have faith! But then yeah, 2.0 could also help us out a bit if we're unable to claim all unlocked rewards at once.

[grizzled kindle]

My SLP is locked for a year so I can't do much about that, earning crazy amounts of ILV from it though, I get that the APY will drop in the ILV/ETH pool but why would it stop earning rewards?

[brisk surge]

@grizzled kindle You wouldn't stop earning rewards the yield farming period is 3 years, for every fortnight (2 weeks) the amount of ILV distributed goes down by 3%.

[gloomy gazelle]

When vesting batches reach their unlock time they continue to earn at the weight they had previously. So as long as they aren’t withdrawn the rewards will have 2x weight

[cyan rapids]

i just staked ilv/eth locked for 4 months , hope i made the right decision, kinda new to staking

[pseudo crest]

You did good 👍

[cunning perch]

Always have a plan, stick with it and know your next move.

[jagged spindle]

Like if you were to claim in sILV

[jagged spindle]

Thank you didn't know 😄

[jagged spindle]

What am I looking at here?

[copper dawn]

https://tenor.com/view/guy-with-a-plan-joker-gif-4859983

[lapis lark]

is it alright if I set the gas price to like <10? the standard is set around 50. I'm willing to wait a couple of hours

[gloomy gazelle]

That is how much ILV is being distributed during the next 3 years of staking. And which pool it goes to. 1 bar equals 2 weeks

[copper dawn]

It's not recommended. You will likely wait weeks... or worse.

[gloomy gazelle]

You could. But you may end up waiting days for that low

Yeah or weeks

[grizzled granite]

guys i have to make a decision with 1 ethereum please advise me

1. this amount needs to be fully used for this game and 2. prefferably i really really want to stake core pool with it

my question is

if i stake 1 eth in value and claim sILV fully on game release for playing the game, will i be able to get efficiency and mileage of the sILV that will be equivalent to using 1 ETH

for example i really wanna stake and use just that sILV, so for example i will spend fees, use equipment, farm illuvials, go out do lots of battling farming, spending lots of my sILV to get illuvials and make most use of it

my question is can the usage of sILV by farming and paying for fees and equipment and stuff, get as much mileage as using 1 ETH on illuvials

this is my final barrier to decide if i should stake or not, as long as the efficiency of me farming and fully using my sILV can be equivalent of 1 ethereum worth

and i really wanna stake more got 2 eth inside already lol

[lapis lark]

Oooof. good to know

[grizzled granite]

any recommendations ? thanks haha

[gloomy gazelle]

I already replied in general

[copper dawn]

the only way to provide a solid answer to this requires knowing the future price of ILV. So... maybe.

[grizzled granite]

thanks haha yep its a hard question, i would rather stake, and use purely that sILV to do well in the game, just hoping that the efficiency wont be very bad compared to ethereum, but i guess we can tell at this point in time, what do do, maybe just follow my heart and stake and whatever use sILV has just use it haha

ah i have a better question

ok, would it be highly inefficient if i stake 4 ethereum worth on core pool, and i go all risk, and claim all of it as sILV on game launch, would i have too much sILV that i couldnt use it efficiently i guess thats my question

because i want to go all out on sILV but im worried if i claim a huge amount of sILV on game launch and im stuck with too much sILV and regret it and should have saved ethereum instead

i guess we cant tell for now but this is the true crux of my question

cant*

as long as i can go all out with staking and claim all as sILV and it can be used effectively then i can rest my heart at ease, worried if i go too much and save up sILV and regret i should have used ETH for monsters haha sorry for complicated question

[final steppe]

Yeah again, it's a bit too hard for us to determine that and through your own research, you'll have to make that decision on your own.

This will depend on many factors such as the exact costs of the fees for traveling, curing shards, etc. which we do not know at this time. Then also how often you play the game and how often you are making those purchases in game.

[grizzled granite]

haha ok ill go do some research thanks everyone it was a tough question i appreciate your answers ill have to contemplate on it haha XD

[final steppe]

No prob! Because the exact costs are not yet known, some are choosing to claim ILV rewards instead of sILV right now. Then as the game launch gets nearer, they may choose to claim sILV. But like you were saying, you could potentially be left with not enough sILV at that point if you planned to use that in game instead of spending ETH.

[gloomy gazelle]

And again there will be something that you can buy with sILV that you could then go and sell for eth. It’ll be a little inefficient but only a little.

[grizzled granite]

haha thats good thanks so so much haha makles sense

[gloomy gazelle]

Also a dollar spent in eth or sILV will be just as efficient

[grizzled granite]

oh !!!!! ok thanks so much

sILV will have many various efficient uses and things that can be done with sILV right ? thanks

[gloomy gazelle]

The decision is what will be the better investment until game releases.

[grizzled granite]

ok i think ill stake more then i like staking

[lapis lark]

is it normal that it will take me around 6 days for the reward value to reach the gas fee at ilv pool?

[tall pier]

In the context of this FAQ (https://illuvium.io/staking-faq), would staking and locking SLP in the core pool be considered "vesting"? Just trying to get my terms straight here.

[final steppe]

Hey Elms-- yeah, that can be "normal" but it will vary for everyone.
The amount of rewards and the rate at which you gain them will depend on how much you initially staked in the pool as well as the token weight you selected.

[placid kraken]

Checking current gas fees might be helpful for planning the optimal time to stake.

[gloomy gazelle]

There’s even a calculator someone made that is pinned in here

[final steppe]

Staking and locking the SLP tokens is just considered staking. At least that's how I think of it.
Vesting applies to the rewards you start accumulating from staking the SLP tokens.
When you claim those rewards, the vesting occurs automatically which is... locking them for 12 months in the ILV-only pool with a token weight of 2.

Staking = You moving your own tokens from your wallet to the smart contract
Vesting = Tokens acquired via the smart contract but are locked for a period of time before they ever reach your wallet in the first place

But someone please correct me if I'm wrong. That's just how I interpret it 🙂

[glass carbon]

@prisma crest the vesting period is a 12 month lock on all rewards. So when you claim, all rewards start their vesting and you can withdraw at the minimum 12 months after claim. the rewards are added to your stake so you're compounding when you claim. So yeah you are increasing your rewards when you claim and vest.

[prisma crest]

ohh when i claim my ILV, it's automatically added to stake?

[tall pier]

Thanks @final steppe . I'm going to watch the ILV Staking Tutorial and post again if I have more questions.

[placid kraken]

Using purely hypothetical numbers, this would be like staking 5 ILV, receiving 2 ILV as the reward, but you have to wait one year to claim those 2 ILV, but they are added onto the original 5 ILV staked for the 12 months? Can you withdraw the original stake at the time the reward begins the vesting period?

[glass carbon]

yes it's added at a 2x weight and you can't withdraw it for a year. but you also earn rewards on that claimed ILV

[placid kraken]

I watched two YouTube videos on this and I think I need to watch them again lol

[prisma crest]

ohhh so when i claim my ILV, it will take 12 month before i can withdraw

[glass carbon]

it depends on how long you lock your original stake

they are independent of your rewards' vesting period

[glass carbon]

yes, for those rewards 12 months

[gloomy gazelle]

The one pinned in here is the best I’ve seen

[placid kraken]

Makes perfect sense. If I originally stake for six months, I can unstake and only the reward remains vested and staking. Basically the same thing if I stake for 12 months. However, if I stake for 18 months, I can compound the original stake with the reward for the remaining six months of the original stake.

[glass carbon]

yes

[hot star]

so your claimed amount get staked right away, and then after 12 months it is available for withdrawal?

[glass carbon]

yep, and you earn rewards on your vesting rewards for those 12 months.

[hot star]

how often should you claim? is there a general rule of thumb to get the most out of compounding while considering gas fees?

[placid kraken]

I feel like this is where it begins to transition into more of a personal financial question, for a couple of reasons.

[glass carbon]

yeah it generally comes down to a certain amount of ILV, and when you reach that point varies between people based on stake size

[hot star]

had to learn all of these terms and practices just for illuvium, starting to get my head around it all B)

[glass carbon]

glad you made it. I'm sure everyone here has had a similar experience at some point or will soon

[tall pier]

So if I already have a locked stake in the SLP pool, can I stake more SLP into that pool while my first stake is still locked? And if so, by doing that am I losing anything other than gas fees?

[final steppe]

Yes, you can!
it will add to the pool total and then you will see a separate vesting schedule in the vesting tab for that newly staked balance.
So your initial stake may have 330 days to unlock, and the new balance you staked would have 365 days to unlock (assuming both were locked for 2 years)

[tall pier]

Awesome thanks! Also just wanna say that there's some really useful stuff in the pinned messages 🙂

[hot star]

im thinking to claim rewards when it is worth equal too or 50% more then the gas prices, so my profit isnt squashed by the gas prices but it doesn't take to long and i can get it compounding.

[tall pier]

So let's do some accounting. I put all my ILV and an equivalent ammount of ETH into the Sushi ETH/ILV pool and got some SLP in return...at some point I can trade SLP back for ETH and ILV (although it likely won't be the same ammount I put in because of interest and impermanent loss). But then I staked all my SLP into the SLP pool with a 52 week lock, so now I don't have any SLP in my wallet either. Instead what I have is a transaction/contract showing that the SLP was transferred to the Illuvium: ILV-ETH Core Pool. So that particular transaction is like my "receipt" or proof that I am staked in this pool. To get by SLP back, I would need to "unstake", which I can only do after waiting at least 52 weeks. This 52 week lock appears to be spelled out in the transaction details for the input data "_lockUntil". Is that all correct so far? And how to I interpret the "_lockUntil" data, which is formatted as uint64...is it a date, a block number, or what?

[hexed kettle]

If I stake 10 ILV and Equivalent $ in ETH for example in the Sushi LP, do I get APY% on 10 ILV fixed?

[wintry yew]

To get SLP you have to get Sushi LP tokens so it would be the combined value of the 10 ILV and equivalent ETH that you would get the APY on, rather than just the 10 ILV

[cinder kettle]

It's unix time as i know of

https://www.unixtimestamp.com/index.php this is the converter

[tall pier]

Sweet! Thanks for explaining that.

[dry heron]

Hi all, quick question:
I’d like to start stacking some ILVs but idk if I should lock it for 52 weeks or less? If I understood correctly, you can’t withdraw the rewards as they are automatically locked for a year right ? Which would mean I can’t get any profits from time to time

[ember basalt]

really up to you, there's the flexible option wherein you can unstake anytime.