🥩〕staking

[cunning perch]

In game there will be no fees as it will be on L2. For whatever transaction you make (like swapping, claiming or even staking) you have to pay gas as you are concluding a smart contract

[signal wraith]

once the game launches in game transactions will not have Gas fees

[jovial moat]

That's good old immutable X love it

[sick walrus]

so im currently staked in the ILV core pool and have .12 ILV in rewards holding. how can i know when its a good time to claim?

[ruby wing]

When your rewards are significantly higher than the gas fee you will be paying

so I am waiting for 10 ILV in rewards for example moving forward (if I am claiming ILV) when I am claiming sILV i wont claim until I need it

[sick walrus]

wouldnt it just be better to claim at the end and only pay gas once?

[ruby wing]

No because when you are claiming ILV it is compounding in the single asset pool at 2X weight

[sick walrus]

i mean i only staked 10 tokens and its the core pool so i dont get alot of rewards

[exotic igloo]

My rule of thumb is to pay 1$ in gas for 1 ILV, but that might not be applicable to all.

[sick walrus]

so what would be a good amount? when im double my gas fee? triple? more?

[onyx terrace]

feels smol

[cyan rampart]

100% totally up to you, but I try and make gas between 10 and 20% of the rewards value. So if gas is $30, I want $300 in rewards minimum, kinda thing.

[brisk surge]

@fringe spade wait do I need to claimed my rewars and stake again? I thought they compound?

[sick walrus]

@cyan rampart ok so I should def wait a while then

[brisk surge]

Hellow is it the same If I just leave my rewards and let them compound or its better to claimed and stake them again for a year?

[cyan rampart]

Yeah, also wait for cheap gas. It still drops to 30 a couple times a day.

[cyan rampart]

Rewards start compounding after you claim them. They also start vesting when you claim them - it's 12 months from a claim to actually have access to your rewards.

[brisk surge]

o my

I thought they compound already

[sick walrus]

so for like 30$ gas fees i should be looking to claim when im claiming around 300$ worth of ilv

to easy

[cyan rampart]

I have no hard math behind this, but yeah - that's what I do.

If you think that ILV will go up, it probably makes fiscal sense to claim sooner to start compounding, but I won't attempt to math that out here.

Super basic idea: If you're claiming .6 ILV at a cost of $30, that ILV will recieve about .3 ILV in rewards during vesting (assuming 50% APY averaged out, which is just a rough estimate).

.3 ILV will be worth more than the $30 you spent to claim, even at current prices.

Balance that against using your capital to buy more ILV now though.

[sick walrus]

yea im not buying anymore, im just riding what i have. but yea that math makes sense

[brisk surge]

sir I just want to make it clear I have 15.2 rewards im not claiming them because I thought they coumpounding already . so now I need to claimed my rewards then stake them again what if I just claimed them and not stake it are they still compounding then?

[cyan rampart]

I'm sure some gigabrain has a more detailed sim that accounts for the falling APY to value early ILV more than late ILV and a billion other factors, but basically if ILV goes up, claiming early-ish and often-ish is good.

[quaint socket]

Right so I got excited and staked my initial ILV. I've since got more. Should I unstake and redo with a bigger total?

Or do I still have to a wait a year to get the initial investment back

[cyan rampart]

Your rewards are not compounding if you haven't claimed them.

With 15 ILV I'd claim them. NFA, but claiming makes sense.

When you claim rewards, they are automatically vested for 12 months (and compounding at 2x weight)

[next ruin]

claimed rewards are locked for 12 months compounding, no need to re-stake

[onyx terrace]

Just sitting here reading this is quite informative for me. Thank you all

[quaint socket]

Best thing to do when you're new. Thats what I did for the first week

[cyan rampart]

You can add to your current stake, but you'll have to claim rewards to do so. You can't unstake a locked stake.

[brisk surge]

Thank you guys I got confused for real. i thought because I cant do anything on my rewards because they will be locked for 12 months I thought they automatically compound them. well I waste a alot of time

[quaint socket]

If I have a locked stake can I then stake a separate amount without touching the other?

[cyan rampart]

At least you know now!

[cyan rampart]

Yeah, you can stake a new amount and the existing stake will remain staked.

[brisk surge]

🙏🏼 Thank you but I feel bad to my self f

[quaint socket]

Cheers lad

[final steppe]

Hey, you found out rather quickly all things considered. Just imagine you didn't know for the entire year and never claimed until 12 months later 😮 You're doing just fine 🙂

[amber fog]

Glad I read this chat this evening, i thought the same as @brisk surge ! thanks all

What's this talk about land??

[brisk surge]

@final steppe Thank you 🙏🏼

[cyan rampart]

Land is for Illuvium-Zero, the mini game. We could chat more about it in #🎮〕illuvium-zero or #814313779696238642 though 😛

[vague thistle]

#mini-game

[brisk surge]

well gas fee 120 wt

[quaint socket]

#🎮〕illuvium-zero now

[gloomy gazelle]

#🎮〕illuvium-zero new name for minigame. Check the pins @amber fog

Dang I’m such a noob replying to wrong guy

[brisk surge]

@gloomy gazelle ???? thats what I thought maybe he made a mistake

[gloomy gazelle]

Yeah sorry for that.

[brisk surge]

all good sir have a good one

[gloomy gazelle]

You too.

[brisk surge]

well gas fee is high I can buy 2 nft for 122 transaction fee😕

[gloomy gazelle]

Yeah but it won’t stay this high forever

[wispy ferry]

Hello. Does anyone know if the rewards rewards also require 1 year lockup?

[brisk surge]

do you think it will go down if I wait alittle bit before I claimed and stake again

[cyan rampart]

All rewards take a year to vest, including rewards from rewards. And rewards from rewards from rewards. It's all just rewards at the end of the day.

[final steppe]

ILV rewards**

[wispy ferry]

So after say 3 years when staking rewards are gone. Will lockup still be required from vault revenue distributions?

[cyan rampart]

RevDis isn't subject to a vesting period, and is different than yield farming rewards.

[wispy ferry]

Perfect so maximum lockup period on all rewards if staked now should be 4 years total?

[cyan rampart]

Maximum lockup period is 12 months after claimed. If people forget about their rewards and don't claim them, that could be a very long time in the future.

[wispy ferry]

Sorry I mean to have all rewards out completely

[gloomy gazelle]

There is a chance some rewards are never claimed. Unlikely but possible.

[cyan rampart]

I think after 3 years though, the yield farming pool will not return any more ILV. Anything left in there will be allocated rewards that someone hasn't claimed.

At that point, staking will just be for revdis.

[wispy ferry]

Right, but the rewards accumulated up until the end of the third year would require another year lockup?

[cyan rampart]

Yeah, if someone accumulated rewards right up till the last unallocated ILV was distributed, it would still take a year for it to vest.

Unless the DAO decided to kibosh vesting at that point - Which is possible, considering the locked ILV would not accumulate rewards anymore. It would still be relevant for revdis though.

[wispy ferry]

making 4 years total for personal rewards to be claimed in full? And last year would not get the roll over compound effect. It would just be revenue share.

[junior shuttle]

Yep, if you were pungent about it and claimed it right at the last day of compounding, it would take ~365 days at that last claim.

[cyan rampart]

Again, it wouldn't necessarily be in full.

No one is forcing anyone to claim, and a result of that is that unclaimed rewards could sit there well past the 3 year mark.

For simplicity and good book-keeping, the DAO could decide that when rewards are all allocated, everything remaining in rewards accounts is automatically claimed. There are additional implications to this, but it's still years away, so it could be discussed more then.

[brisk surge]

@cyan rampart sorry sir to bother you but the way I understand is right now im staking for 12 months then I have rewards that need to claimed to be able to compound now those rewards I claimed I will stake them again and from that the rewards I will get will be vested for onther 12 months? so everytime I get a rewards they will keep vested for 12 months?

[wispy ferry]

No I get that, just thinking hypothetically if you one was staying on top of things. It would be interesting if the lockup would be removed or shortened toward the end of the final year of rewards.

[quaint socket]

When you claim is the initial investment plus the gained ILV vested or just the additional so the original can be moved about immediately?

[cyan rampart]

Every time you claim, your rewards are automatically vested for 12 months. This will happen every time you claim. You don't have to unstake or restake to make this happen.
Unless you take sILV rewards of course, but I'm assuming we're talking about ILV rewards.

[junior shuttle]

Once the initial is deposited and locked there is no removing it until time period is up

you will claim rewards, those rewards (themselves) will get locked for 12 months. The initial stays in its lock period

[cyan rampart]

Claiming doesn't affect your initial stake - if you have 5 ILV staked for 3 months, and you claim rewards, your 5 ILV are still staked for 3 months, and your rewards are vesting for 12 months.

[junior shuttle]

So if you deposited your initial 3 months ago and claimed rewards today, your initial is locked for 9 months, rewards are locked for 12 months. I hope that clears it up.

[quaint socket]

Even if I chose the flexible staking option so it's not locked in?

[wispy ferry]

Stake ILV/ETH LP -> Claim ILV -> Claimed ILV rolls into ILV staking (for 12 months)-> Claim ILV (rolled from original ILV/ETH LP rewards) after 12 months -> Rewards from ILV staking, restaked in ILV for another 12 months -> and so on.......

[brisk surge]

@cyan rampart yes Im talking about ILV . so in that case I think theres not gonna be a lot of sell presure in the future if I am right because rewards are subject to 12 months vested. The only thing you can sell is the original token you stake not the rewards because you cant touch them for a year and so on

[junior shuttle]

Depending on what you choose will depend on when you can remove. So yes in that example

[cyan rampart]

Yeah, rewards will all perpetually be somewhat time-delayed, meaning they can't be dumped immediately.

[quaint socket]

So If I chose flexible staking option, and 3 months later decide to claim. The ILV I will have gained gets locked away (vested) for 12 months. But my initial investment is mine to use there and then?

[brisk surge]

@cyan rampart Thank you sir I learned a lot from you🙏🏼🇵🇭 Have a great day. Thanks again

[cyan rampart]

Correct. If you're flexibly staked, you can do whatever you want with your initial tokens whenever you want.

[quaint socket]

Righty-O, thanks for clearing that up, much appreciated

[brisk surge]

change plan . the heck

[dark bear]

Hey, if my staking withdrawal transaction is listed as "dropped" on ethscan, can I still speed it up or do I have to submit a withdrawal again?

[tall pier]

A follow-up question to see if I'm understanding correctly (probably already asked/answered somewhere but this is such a huge thread to read through, so here goes): If I already have SLP staked and I want to stake more SLP, I also have to unstake/restake everything I have in the ILV pool...but If I want to stake in the ILV pool, I don't have to touch the SLP pool...is that all correct?

[desert current]

does anyone know if after staking you can transfer the linkage to a different wallet?

[cyan rampart]

I'm fairly certain that for the time being, you cannot transfer your stake or rewards to another wallet.

[clever wind]

Hi i am a newbie here, just want to clarify that if i stake for 12 month, am i still able to use when the game come out ?

[tall pier]

I was wondering that too. Thanks for asking, @desert current

[cyan rampart]

ILV is not used in-game. Your rewards can be claimed as sILV to be used in game, and you can do that at any time!

[clever wind]

ohhh i see thanks alot !

[cyan rampart]

The unstaking should happen on the back-end. If you have a locked stake, you shouldn't have to manually unstake/restake anything (nor should you be able to, as it's locked).

You should be able to stake additional SLP. Doing so will mean you have to claim rewards, and on the back-end it will unstake/restake some things, which will be reflected in the gas fee you pay.

Basically, the only action required by you should be staking your ILV. Anything else will happen on the back-end, and may cost additional gas.

[tall pier]

Thanks. So assuming I am locked & staked in both ILV and SLP pools, does it cost more gas to add stake to the SLP pool? Or the ILV pool? Or is it about the same?

[signal wraith]

adding stake to the SLP costs more gas

[cyan rampart]

I'm not staked in SLP, so I'm not totally sure, but you should be able to compare gas fees by testing a stake in each pool.

[tall pier]

Good point. Will I be able to see all the estimated gas fees in one single transaction?

[cyan rampart]

Yeah, when you submit a transaction it should include all the gas fees.

[signal wraith]

when you restake you have to claim rewards so it will be multi transaction,

[tall pier]

Does the transaction of claiming rewards include automatically vesting them in the ILV pool? Or is it another transaction to vest the claimed rewards?

[signal wraith]

Rewards are auto vested for 12months

[cyan rampart]

Everything is bundled into one transaction, fee-wise. You don't have to do anything manually.

Example for my last ILV stake:
Stake ILV (1 txn)
Claim rewards (1txn)
Unstake/restake existing rewards(some number of txns)

But all I did on my end was stake ILV and claim rewards.

So claiming will automatically vest your rewards.

[signal wraith]

When I staked more i clicked the stake button it prompted me to claim my rewards but I got 2 gas trascations to approve. One gas transaction for claiming rewards (rewards auto vest for 12 months in the ILV pool if picking ILV) and one for staking what i wanted.

[tall pier]

So if I already have a stake in both pools, and now I want add to the SLP pool, would that require unstaking and restaking BOTH pools (because of rewards claimed from the SLP pool going into the ILV pool)? Or just unstaking/restaking the SLP pool?

Thanks so much @signal wraith @cyan rampart !

[signal wraith]

there is no unstaking

[signal wraith]

You are not required to unstake anything to stake more. The new stake gets added to the pool already

[tall pier]

Alright, I'll give it a try and see how it goes. Cheers everyone!

[fresh abyss]

Can anybody tell me why, when I try to stake my ILV, the gas fees needs to be way higher than what Etherscan suggests?

[acoustic jungle]

is there any website that tracks the yield? like vfat tools?

[spare light]

Does locked staking compound

[cloud quiver]

When you lock for a certain period of time, you will see the “weight” on the slider when adjusting the length of time, max being 2. Around 1.5 for 25/26 weeks, and so on. Any rewards claimed therefrom will compound at 2 and be added to your staked amount. (Others please correct me if I am wrong.)

[spare light]

Thanks saul. My favourite lawyer

[thin shell]

I have had a staking transaction going on 20 hours now and physically can not delete it. I downloaded state logs reset my account everything, it will not go away. Anyone have any advice on wtf to do on metamask?

[sage mortar]

So the rewards add to your original staked amount but unlock 12 months after you claim?

[cloud quiver]

My understanding is that they compound also. (x2). Need confirmation on this. But yes, they unlock 12 months from when you claim.

[sage mortar]

Thanks. I guess that’s why it makes sense to harvest as often as you can. I was going to wait until I had 5 rewarded but maybe I’ll just go at 1 now.

[shrewd river]

ya only constraint is gas fees which cost me around $80 to pull from both pools when GWEI is 30

[signal wraith]

it do be like that 😦

[full sedge]

When going SLP you are acumulating alot more ILV, which will make IL irrelevant. Only works if you have a larger amount staked tho

[inner sentinel]

when people say we cant touch our rewards a year after staking....Can we not even restake our rewards?

[full sedge]

Also, for you to have RevDis, the more ILV you have staked, the more revdis you get

[rustic finch]

they are automatically re-staked when you claim

[inner sentinel]

then I can manipulate them

[burnt hill]

If i have rewards from sLP pool to claim can i stake them on core ILV pool instead of claiming?

[full sedge]

once you claim your SLP reward it automatically gets staked in the ILV pool for 12 months

[cyan rampart]

Rewards vest after you claim them - that means it is effectively staked in the core ILV pool when you claim it.

[honest wraith]

When you claim them they auto-stake into the main ILV pool for 12 months at 2x weight

[cosmic trellis]

They remain at x2 weight even after the 12 month period is over right?

[mint cave]

yes

[cloud quiver]

Want to make sure I have my terminology right…. Is “vest” synonymous with “unlock”? I was under the impression the moment the ILV “vests” is the moment the ILV becomes unlocked and available for transfer. Or am I wrong

[lilac coyote]

Vesting period is the time shares are locked. Vested shares indicate they are now yours

[loud quail]

a "compound rewards" feature would be pretty cool, howevr I suppose the amount of contract interactions involved would make the gas fees about the same anyways?

[crimson gull]

I staked my ILV yesterday with a hard wallet through meta-mask. I was told that you should start seeing the pending rewards quickly. On Etherscan it says for the transaction action "Approved ILV for trade on Illuvium: ILV Core Pool". In metamask on my transaction details for ILV it says "Approve ILV spend limit, Aug 14 Staking.illuvium.io I see the ILV under "your ILV balance" on the dashboard of the Illuvium website. No pending rewards though.
The transaction was a success but not pending rewards. Did I do something wrong? Keep in mind, I cancelled the transaction twice and increased the fees for gas

[lilac coyote]

Gas is really the main factor, if you claim too much (small ILV quantities) you could lose money. Need to get a rough idea of how much yield per day your claimed tokens will accrue in solo pool and wait for this number to be larger than gas cost

[charred rampart]

hello everyone. in illuvium staking under "vesting" there is a tab their is a column that reads "weight" what does that mean?

[ruby wing]

Weight is determined by your locking period

52weeks is 2X

means the APY is the full amount

so 600% versus 300% in LP

[charred rampart]

okay. i choose short vesting periods. 1.17 and 1.12 respectively that is roughly half of 2x. so around 300%?

[ruby wing]

ya approx just do stated APY/2*(your multiplier) thats ur current APY

[lilac coyote]

Vesting is related to rewards and is 12 months regardless.

[charred rampart]

understood. thanks.

[celest tusk]

Unless you claim sILV right?

[charred rampart]

was averaging peak highs after btc halvings to take place this year around mid september. just thought i should have to flexibility there.

[celest tusk]

Is it a bad idea if i downgrade the gwei to like 30? I want to stake (and claim) more ILV

[charred rampart]

doesnt look like thats whats going to happens so far.

[celest tusk]

Or will I be better off to just keep it as it is?

[lilac coyote]

correct, sILV can only be used in game or for land sale when that is available

[charred rampart]

im kinda wondering about how often people claim there rewards. seems like people do it too often. the compound interest isnt going to care about 1 week vs 2 weeks. what is the rate of interest and at what time frame for compounding?

[lilac coyote]

It depends on your ILV/day rewards. If it’s 1-2 then claiming every 30-45 days makes sense if gas is around $60

[charred rampart]

1-2 ilv per day?

[celest tusk]

Jeezzz thats alot

[ruby wing]

Rah says 1 ILV per 1$ of gas

thats rule of thumb

[crimson gull]

https://etherscan.io/tx/0x569c0a4fe0fc31583ea12510a11386edce3dd9021365630ab3b508ea0af3187e

[lilac coyote]

Let’s check my math: (1 ILV x $525 x 0.9)/365

[crimson gull]

Can someone tell me if I staked my ILV correctly? Based off this etherscan transaction?

[lilac coyote]

=$1.30 per day of ‘interest’ on $525 worth of ILV

[celest tusk]

Oh so its not worth to do it more often than days based on ($1.3 per day)

[lilac coyote]

So if gas is only $1 then claim every day, but if not wait until your expected interest in the time frame is greater than the transaction cost

[charred rampart]

my gawd its so refreshing to be here from other nft rooms. bought some flufs and its the biggest room of idiots ive ever been in.

[lilac coyote]

Again, im sincerely asking for confirmation of this math

[crimson gull]

am I muted?

[charred rampart]

i wouldnt know how to look at your etherscan.

[eager lynx]

It looks you have "approved" ILV to be staked. Now you have to actually stake it

[crimson gull]

Thank you! So this is standard practice that you have to do two transactions and pay gas fees twice?

Is this because I used a hard-wallet and that is why I had to approve it first..?

[cloud quiver]

I've yet to get into the SLP, is it generally considered a no-brainer to go with the SLP instead of basic pool despite the risk of impermanent loss?

[eager lynx]

but 1 ILV will generate 0.9 ILV per year. 0.9x530 = $477 at current prices. Here we are not considering ILV will go up in price that most likely will. So it would seem reasonable to think it would be profitable to claim 1 ILV even if gas cost $477. Isn't it?

[eager lynx]

Nothing to do with a hardware wallet. You first must allow the token to interact with the contract. After it has been approve you can actually proceed with whatever action you wanted to do.

For example, if you want to swap ILV for ETH on Sushiswap you will have to approve ILV on Sushi first. If in the future, Uniswap has liquidity and want to swap in there, you will have to pay this approval fee there again. Does it make sense?

[lilac coyote]

you still have the ILV even if it’s not ‘claimed’ yet so you capture the upward price. You are right though, you don’t have to be super strict on the calculation if we keep printing green candles. But I’d still be mindful of not over spending on gas. Remember, ETH is going up in price too so that gas cost will be higher in the future

[crimson gull]

Yeah, it sounds like you have to approve the contract and then the second step would be putting the contract into action essentially. I just havn't ever had to do things like this when staking other crypto. I guess it is because this is running on ethereum

[eager lynx]

I do personally think in ETH not in $. So what I check is how much ETH I spend in gas to get X ILV in rewards. Also, the ETH I spend in gas does not compound. However, ILV claimed does 🙂

[crimson gull]

Wouldn't the gas costs be much lower because of moving to POS?

[lilac coyote]

POS reduces gas a bit but the big reductions will be with layer 2 adoption

Then sharding is the second big component of scaling

[eager lynx]

also you have to think during the week we have so many NFT avatar projects doing their drops so gas tends to spike

[lilac coyote]

Imagine opensea being on a layer 2 like arbitrum. Maybe a specific roll up for all NFTs. Gas would be very cheap now

[silk meteor]

If your Daily reward is 1 ILV, then
(1 ILV x $528 x 0.9)/365 = daily reward on 1 ILV claimed $1.30, so if gas cost is $40, then claim every 30 days or so if the variables in the calculation remains about the same. If gas cost is $60, claim every 45 days. Hope that helps!

[mint cave]

i don't know where you read this

revenue will be distributed as revenue is generated

[urban flicker]

Or am i wrong?

Oh i see then thats great.

[silk meteor]

Revenues from possible land sales and in game revenues all get distributed to staked holders from day 1…that’s fantastic!

[urban flicker]

Awesome!!!!

[cyan rampart]

There's discussion about having a short period over which land sales revenue is distributed to avoid spiking the price of the token by dumping large amounts of ETH into ILV all at once.

I believe the plan is still 100% revdis, it just might be over a day or a few days depending on token price... someone smarter knows more about this than me 😄

I believe Aaron mentioned that the vault smartcontract has protections against high slippage or something like that as a protection.

[glass geode]

Land sales are gonna be hype!!

[signal wraith]

i just want one pleaseeeeee

[drowsy wigeon]

hey guys quick question. I got some ILV in the sushi pool but I wanna add some more. How many transactions would that require?

[alpine vault]

Yeah, that makes sense. I can see that being confusing if your only experience is with chains that don't require an approval step.

[eager lynx]

As far as I know it would take 1 tx to stake those extra SLP tokens

[next ruin]

Need to claim any pending rewards in all pools at that point tho

[alpine vault]

You'd need to do three transactions because you have to claim from the ILV and ILV/ETH SLP pools.

So four total including staking on sushi

[cyan rampart]

At least 2, maybe 3 transactions. Depends if you've claimed before.

[eager lynx]

Do you have to claim pending rewards to add another stake? I had my ILV pool with rewards and I didn't have to claim them when I added my SLP tokens

[alpine vault]

I'm guessing that's because you didn't have any SLP rewards.

[eager lynx]

Correct. So what we are saying if we currently have SLP rewards these must be claimed before we can stake more SLP tokens?

[alpine vault]

Correct. You have to claim the rewards from a pool before adding to that pool, and when you claim from the SLP pool, you have to claim from the ILV pool at the same time.

[halcyon gazelle]

Hi does anyone know if I can exit an ILV staking position once locked for 6 months? Understand this would forego any interest.

[cyan rampart]

If you've locked your ILV, it's locked. You'll have to wait out the staking term.

[halcyon gazelle]

thanks - thought so.

[charred rampart]

geezus. i found out about illuvium about 45 days ago. did research and with the help of people here in this room, i made the biggest investment decisions of my life. and its been an incredible ride so far. im so very thankful for all the help i have received. especially from @exotic igloo if anyone is considering making the move, talk to me.

[jagged spindle]

So since my SLP is increasing in price do I produce more rewards than usual ?

[cyan rampart]

80% of ILV rewards go to the SLP pool. It's then distributed by the % of the pool you hold.

Since everyone elses' SLP is increasing in price at the same rate as yours, an overall price increase for the ETH/ILV pair shouldn't affect your ILV rewards.

[next ruin]

Your slice of the pie is your slice of the pie - the pie is just bigger now. 😉

[jagged spindle]

Mhm Okiee perfect thank you guys ☺️

[silk meteor]

More likely reduced a little because more people most likely entered the pool so lowering your slice

[jagged spindle]

How long will SLP last like after my year can I go in again?

[cyan rampart]

I believe after your year, your SLP will remain staked at a 2x weight, but not locked anymore.

[silk meteor]

I think pool lasts 3 yrs which began June 2021

[exotic igloo]

Well thank you ser!

Congratulation!

[jagged spindle]

Oooo so I’m still collecting high as APY well I know it goes down but you know what I mean. @

[onyx parrot]

Man the rate for earning rewards has slowed quite a bit

[eager lynx]

3% down every two weeks

[sonic wolf]

yeah but dollar value is going up, so technically rewards are going up much faster

[radiant musk]

what pool do you get more rewards from staking

[acoustic jungle]

Ill take the token 5x and less rewards over increased rewards lol

[onyx parrot]

Interesting. Ya was just making an observation

[next ruin]

SLP pool provides more rewards in exchange for a higher barrier to entry as well as the risk of impermanent loss.

[radiant musk]

ok, im new what does higher barrier to entry mean and whats impermanent loss

[next ruin]

By barrier to entry, I mean you will have to do additional transactions to add liquidity to the pool and stake the resulting tokens. Add'l transactions means more gas, which for a small amount might make it not make sense to do as you will eat up a significant part of your starting $. For IL, I'd start here: https://academy.binance.com/en/articles/impermanent-loss-explained

[radiant musk]

How much is a small amount?

[next ruin]

A lot of folks around here peg the amount at around $1k total - depends on the person, but that's a good ballpark number.

[radiant musk]

Sorry, I don't understand, a small amount is 1k or most people invest 1k?

[eager lynx]

A lot of people consider less than $1k a small amount to invest

[next ruin]

Most people around here would say that less than $1k it doesn't make sense to go into the SLP pool

[radiant musk]

Ok, thanks. So from what i'm reading impermanent loss is just like most crypto's if it goes down i'll lose money?

[eager lynx]

Impermanent loss is when you want to take back your stake and the amount of tokens you initially added to the pool has decresed

[loud quail]

with two assets in an LP it's the difference in potential gains from just holding the one asset that gains the most

[eager lynx]

e.g., if you add 6 ILV / 1 ETH it could be when you want to get your tokens back you get more ETH than ILV. Some people will be ok with that, others wouldn't

[next ruin]

If the pair of tokens you pool don't change a similar amount you will get less back of the one that rose faster. So you would have ended up with more just holding.

[feral seal]

How many times can i collect my rewards? And can i claim ILV and also sILV

[radiant musk]

well it's pretty likely that ILV is going to go up a larger % then ethereum, is that bad for staking?

[brisk surge]

Check this out https://dailydefi.org/tools/impermanent-loss-calculator/

[loud quail]

the other factor would be the amount you earn from the rewards from staking your LP tokens

[next ruin]

You can claim whenever you want, but it will cost gas and ILV rewards will be vesting for a year. You claim in ILV or sILV each time you claim rewards.

[cyan rampart]

The only way you don't lose some amount of money to IL is if both tokens go up or down by an identical percentage. If ETH and ILV go up by 10% each, there's no IL. Anything that isn't an "identical changes" scenario will result in IL.

[tame plover]

will i get the same amount of USD that i originally staked? just different ILV/ETH quantity?

[cyan rampart]

Balance the almost inevitable IL (how much depends on how big the differences are) against the massive APY and a share of the fees for liquidity.

[radiant musk]

So the other pool that won't be affected by IL is because it's just ILV?

[next ruin]

Correct.

[cyan rampart]

You technically get back the % of the pool you currently hold, which generally means you can't lose USD value equivalent unless one of the tokens goes to 0 or something.

[feral seal]

What is the best rewards to get while the game hasn't been release yet?

[radiant musk]

Ok so, if I invest $1000 how much would I lose from gas fees and all that

if the gas fees were at the current price

[brisk surge]

would you be going into the SLP or just single?

[radiant musk]

SLP

[tame plover]

Ahh, so the only downside in staking SLP is you should have had more profit if you just hold/staked your ILV in ILV pool?

[brisk surge]

Check this out https://analytics.sushi.com/pairs/0x6a091a3406E0073C3CD6340122143009aDac0EDa

It has a Impermanent Loss/ROI Calculator ^

[cyan rampart]

The downside is you don't realize gains on your staked tokens. And you could potentially get back an undesirable mix of tokens. Ex. if you stake 10 ILV and 1 ETH (just hypothetical numbers) and ILV goes 10x while ETH stays the same, you get back 1 ILV and 1 ETH.

[feral seal]

Best rewards to get ILV or sILV? while we wait for the official release of the game

[radiant musk]

I still don't understand because The_Saberfool said anything less then 1k isn't worth it because you'll lose a substantial amount of $, what am i losing that $ to and how much?

[tame plover]

But I'm already earning due to rewards now right? Will my rewards get affected by IL too?

[cyan rampart]

Your rewards are just normal old ILV, so they can't be affected by IL.

[next ruin]

ILV you will get compounding rewards on, sILV is only used in game. I'd take ILV, but its up to you.

[brisk surge]

!staking

[woven ibex]

When holding ILV, staking is a way to gain additional rewards from yield farming and revenue distribution. The process for staking is the following:

• You acquire either some ILV or some Sushi LP tokens
• You go to: https://staking.illuvium.io/staking/core
• You enter the right pool according to the tokens you acquired
• You decide whether to lock your deposit or not (if locked, you will receive more rewards from yield farming and revenue distribution, but you cannot withdraw your deposit until the chosen locking period is over)
• After approving the contract (if this is your first interaction with it) you confirm the staking of the desired tokens

You can find an in-depth video for staking here: https://www.youtube.com/watch?v=C6YugU4zZr4&t=1s

[next ruin]

You'll pay gas to swap ETH/ILV, gas to add liquidity to the pool and gas to stake your SLP tokens. At current rates, you probably need to hold back something like $150 of Eth for gas. Maybe more.

[cyan rampart]

Until there's something to spend sILV on, taking ILV makes a lot of sense. Once there's spend cases for sILV, it's totally up to you whether you prefer some fast currency to spend in the land sale or in-game, or the compounding value and potential token gains of ILV. Note that sILV is locked in price to ILV, so you still realize token gains, but don't collect rewards on sILV.

[feral seal]

So while waiting for the release of the game claim ILV first then when is already released sILV will be the best after?

[cyan rampart]

I know some people are banking up rewards waiting for the land sale to potentially claim as sILV, but since it doesn't collect rewards, there's really no rush to claim it.

[radiant musk]

So are gas prices high or low right now?

[next ruin]

That's what I'm doing.

[cyan rampart]

30-ish is low, 60-ish is highish, so we're high-ish right now.

[next ruin]

https://www.gasnow.org/ Good tool for gauging when to do your transactions.

[cyan rampart]

I wait for 30-40 range to do anything on the ETH network.

[feral seal]

So what are the uses of the sILV? Would you be able to buy the illuvials to catch monsters using sILV? Or just some other in game items

[cyan rampart]

Note that depending on your wallet settings etc. you can manually set your wallet to like 35 maximum gas price, and just your txn wait until gas is low enough.

That can go sideways if you have timeouts set though.

[next ruin]

You can pay to travel to higher tier areas and cure shards used in capturing in Eth or sILV. You can only purchase Illuvials from other players on the marketplace with Eth.

[cyan rampart]

!silv

[woven ibex]

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.

[cyan rampart]

Also, sILV can be used in the land sale.

[gloomy gazelle]

My mental math is weak sometimes

[cyan rampart]

Yeah it's sadly possible to get super fucked 😦 I was surprised when I finally realized how bad the worst cases are. That APY is compelling though.

[gloomy gazelle]

It certainly is

[cyan rampart]

I think I'll stake SLP with no lock period until I'm confident ILV has stabilized a bit more, and then lock. When I have more capital, which will be... at some point.

[gloomy gazelle]

Actually I used the calculator and see what happens. I was rightish.

Start with 10:1 and after the 10 count side 10x then end with 3.16:3.16

[cyan rampart]

Yeah that is right - I read a bad example online lol

You'd just get a 1:1 ratio in the example I gave, but average the initial value across the tokens and you end up with 3.16 of ea.

[unique bear]

Hey all, so with the SLP and locking for a year. The 'estimated' APY is over 700%, so in a year's time, in order to make a $Value loss, the divergence of Eth and ILV would have to be quite significant wouldn't it? When you factor in LP earned fees etc? So provided this Game is legit and doesn't go completely pair shaped, the risk/reward profile seems fairly decent. Anyone agree?

[wheat kestrel]

It takes a ton of IL to counteract 700%+ APY.

[cyan rampart]

When ILV and ETH are relatively stable, 700% APY is plenty and should cover your IL.

IMHO at this point, ILV going 10x requires a successful launch, I don't think any amount of hype metrics will push it that high, it'll have to be operating well as a game. NFA.

[unique bear]

Basically a complete collapse or similar would be one scenario, though seems a decent investment provided the whole life savings aren't invested!

[cyan rampart]

I think we could potentially see 3x-4x before launch though.

[unique bear]

Yeah possibly better to wait a little for it to settle

[cyan rampart]

There's calculators posted above to check out hypotheticals though, I'd definitely do that before locking for a year.

[unique bear]

Haven't seen those. I'll scroll up

[eager lynx]

I can see ILV 4x from here before ETH 4x. You can always stake it flexible in the ILV pool and when price stabilises then add liquidity to SLP. NFA 🙂

[unique bear]

Yeah that sounds like a more sensible, risk averse approach!

[wheat kestrel]

You could also just lock it for less than 12 months and get an incrementally better APY.

[cyan rampart]

I'd legit consider flexible staking SLP personally.

[unique bear]

Yeah there's some good options there. Just tough paying gas each time and then you have to claim the flexible rewards before you stake SLP I think...?

[whole ice]

Guys i have one question about the stake system, when i am going to put some ILV for stake appears Wieght and Est APY, what are they? Can someone explain to me?

[honest raptor]

Is it better to steak in ILV pool or Sushi LP pool

Like whats the main difference?

[spiral flame]

anybody experienced very long tx time for claiming? mine is 15 hours and couting

[proud moth]

i used to put 30 gwei and waited like 24 hours.

[spiral flame]

did you also claim? 😅

[proud moth]

no i did not. but it's quite common to any kind of transaction when you put low gwei

[spiral flame]

https://tenor.com/view/i-guess-i-gotta-wait-fucking-long-mad-gif-14335665

[proud moth]

how much gwei did you put there?

[spiral flame]

around 25. Metamask put the price for me. Never edited anything

[proud moth]

could take several days. just be patient

[eager lynx]

It could take the whole week! lol

[eager lynx]

I would recommend to check the gas price while you are sending the tx. Sometimes adding 1 or 2 more to the gas will process your tx in seconds rather than days

[cyan rampart]

You can also choose to speed things up with a higher gas price in Metamask - I'd definitely go to 30 or something, 25 might legit not get through in the next week.

[jagged spindle]

why is my one transaction of ILV claim taking forever

[ruby wing]

What is your gwei at

[jagged spindle]

Say's unable to locate this TxnHash, but once I attempt to claim again it won't let me

I've sped up twice. Idk how to check what my gwei is at, sorry. My gas fee was $63.98 though @ruby wing

[ruby wing]

go to advanced settings, see pinned tutorial as it should help with gas fees

lots of stuff on youtube too

[jagged spindle]

Yea, I didn't all that customized shit. My fault.... usually it goes right through. When I did it though the GasTracker was around 38

[ruby wing]

just dont cancel and wait for the gas to come down a bit, patience is key 🙂

[jagged spindle]

10-4 @ruby wing Just never had this happen before! So wanted to make sure! Thank you maaaan!

[ruby wing]

Are you claiming SLP?

or just single

[jagged spindle]

SLP rewards and ilv cuz it makes you do both. The ilv rewards got claimed instantly but the SLP one is taking 4+ hrs now

[ruby wing]

damn, if you can figure it out for next time, make sure the gas is set the same for both

[jagged spindle]

It was one transaction though from what it looked like 😦

Idk I’m going on 17hrs no sleep with very little sleep so that doesn’t help my decision making as well 😌

[ruby wing]

Ya I gotta pack it in! hopefully your tx works out.

[onyx flower]

Way too big brain for me.. ill try to figure this one out

[tired blade]

Hi! Newbie here. Any good resource or YouTube video on staking? As I understand it, with the game is not yet released, so this is the best (or only?) way to get involved for now.

[coarse dome]

I wanna know will there be any way to transfer sILV to ILV?

[manic spindle]

No, of course not 🙂 If you want to have ILV as rewards you will have to lock them 12 months when claiming. You cannot claim sILV and then just switch to ILV. Defeats the entire purpose of the vesting period to support longevity in the first place 🙂

[brisk surge]

If I stake through the flexible basic ILV pool, are my rewards still subject to being locked for 12 months?

[coarse dome]

thanks! if the game is live,will be any way to tranfer sILV to ILV?

[brisk surge]

And additionally if I stake through the "Locked" ILV pool is there a lockout period on claiming my rewards beyond the period I lock my stake for?

[coarse dome]

not just about the stake

[manic spindle]

No, the same arguments still apply when the game is live. If you want ILV as rewards then claim ILV. If you want sILV then claim sILV 🙂

[coarse dome]

the game will use sILV and we will earn sILV in the game, those sILV can we transfer to ETH or ILV?

[manic spindle]

You will not earn sILV in the game. You will earn ETH from selling on the IlluviDEX and there will be ILV earned via means not yet disclosed.

[coarse dome]

gotcha, thanks

[normal blaze]

So in sushi swap connect MM , already have eth and ilv, how to swap both to lp?

[manic spindle]

!lp

[woven ibex]

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

[eager lynx]

You don't swap anything now. You just add liquidity in Suhi and you will get SLP tokens

[dark sundial]

Any info on where the yield % comes from and how it will change over time?

[manic spindle]

!read

[woven ibex]

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

[brisk surge]

Can anybody assist? My readings indicate my rewards are indeed locked when staking ILV just wanting confirmation.

[normal blaze]

Thanks

[eager lynx]

$ILV rewards are subject to a 12 month lockup period. sILV can be claimed and used immediately for gameplay.

You can read that from the second link provided above 🙂

[brisk surge]

Thank you, if I lock my ILV for 12 weeks am I understanding correctly from what I've read on the links above that

1. After 12 weeks my initial amount of ILV I staked is retrievable? And

2. That my rewards are locked for a 12 month period auto-compounding?

Again, I've read it all, wanting to clarify I've interpreted correctly.

[eager lynx]

As I understand the longer you lock your stake the higher the APY. However, the rewards are always locked for 12 months

[manic spindle]

Your deposit can be withdrawn at any time if staked flexibly or when it unlocks depending on the locking time you choose. You rewards are vested for 12 months from the time you claim them and staked for compunding.

[eager lynx]

Correct

[brisk surge]

Right, so to initiate the process of auto-compounding via re staking of rewards I need to consistently claim them as they become available?

[eager lynx]

Yes, but you have to think carefully when you want to claim them because each claim will incur gas fees

[manic spindle]

!claim 🙂

[woven ibex]

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.

[brisk surge]

Ah yes I'm encountering that issue now with staking, it's so expensive the amount of ILV I am attempting to stake seems like a financially losing proposition with 4 sets of fees at the end of it.

Thank you for your helps guys, much appreciated.

[normal blaze]

Where to find lp address on coin gecko?

[manic spindle]

What LP Address on Coin Gecko? The contract?

!contract

[woven ibex]

ILV Token: 0x767fe9edc9e0df98e07454847909b5e959d7ca0e
ETH/ILV SLP Token: 0x6a091a3406e0073c3cd6340122143009adac0eda
sILV Token: 0x398aea1c9ceb7de800284bb399a15e0efe5a9ec2

[normal blaze]

Yes thanks, that second one

Can’t copy and paste

[brisk surge]

I am new to this and read the articles sent here. I understand this tell me if i m wrong:

As ILV holder I can put my ILV to work like this:

1. Staking - I recieve % ILV or sILV as is set depending on apy. Ilv amount staked and weight.
   While staked I also recieve % eth from marketplace fees

ILV or sILV rewards recieve based on staking is called vesting. Vesting ILV locks them 12month after being in my account period which generates rewards also. sILV vested are awarded instant but can be used only in game.

If i am not a gamer i must not vest sILV right?

2. Provide liquidity is little complex for me but need to provide ilv and eth and recieve rewards from trading fees

[eager lynx]

#1. I think you get % of ETH spent on the marketplace as RevDis but you will get as ILV tokens not ETH

Staking rewards is not called vesting. Vesting is when you claim rewards but cannot be pulled out. So you must keep them for 12 month before you can sell those tokens. sILV can be claimed instantly and be used as in-game currency.

#2. You need to provide 50/50 (e.g., 1 ETH/ 6 ILV) and you will receive SLP tokens. You stake those tokens in Illuvium and will get ILV/sILV as rewards.

You probably don't want to claim sILV if you are not gonna play the game.

[coarse dome]

if the stake expire, should i have to claim the ILV back to my wallet one by one stake, or can I wait then claim them together?

[manic spindle]

Every single batch of deposits and claimed rewards you see under the tab "Vesting" has to be withdrawn individually UNLESS another solution can be found in the future for which there are no promises at this point.

[coarse dome]

ok, hope there is another way,otherwise,the gas fee too much

[brisk surge]

Thanks!

[brisk surge]

Rewards not withdrawn (not vested) generate other rewards?

[eager lynx]

No. You have to claim your rewards for this

[manic spindle]

Claimed ILV compounds. Unclaimed rewards do nothing except waiting for you to claim them while their pile grows 🙂

[brisk surge]

So if little ILV is staked you can turn up profitable in vesting rewards if certain amount piles up so is bigger than gas fees

[coarse dome]

i have a stake unlocked in the vesting pool, and the "WITHDRAW" is highlighted, does that mean, i have to withdraw now, or just leave it in the pool, will it still compound ?

[manic spindle]

You CAN withdraw but as long as you don't it will generate additional rewards. Everything under "Vesting" is staked on your end and thus eligable for Yield Farm Rewards and RevDis 🙂

[coarse dome]

thanks

[brisk surge]

@coarse dome i guess you staked on short term?

[coarse dome]

I have several stakes for different periods: 3 months,1 year, unlocked

[manic spindle]

If you are very confident in the project, you could also withdraw what you have unlocked and re-stake it with a much higher locking period this time to get a higher token weight and thus more rewards. But this will cost gas of course, so I wouldn't do it for very small batches 🙂

[brisk surge]

But the 1 year is locked right?

[coarse dome]

the unlocked stake is small, i will leave it for playing in the game

[manic spindle]

There is ZERO options to unlock something you decided to lock until the locking period expires, so anyone who locked for a year when staking started still has around 10,5 months before those unlock, yes 🙂

[coarse dome]

yes

[manic spindle]

You cannot do anything with ILV in the game, you know that, right? 🙂

[brisk surge]

sILV is built on eth network right? Why do you think can not be listed a pair ILV/sILV sILV/ILV on swaps like sushi swap?

[coarse dome]

enen ,yes,thanks for reminding me

[manic spindle]

Anyone could open a pool on exchanges for this. But a) sILV surely would not trade 1:1 in value as it is in game and b) there are no plans for such a pool from the teams side.

[brisk surge]

Yep that was what i was thinking so players will buy sILV via website? By depositing eth?

[manic spindle]

You don't buy sILV at all. You get it ONLY as yield farm rewards.

!silv

[woven ibex]

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.

[manic spindle]

sILV is nothing mandatory. If you haven't any, you pay the same USD prices in game just with ETH which is the main currency.

[brisk surge]

Oh ok so sILV will be like a bonus to those holding it like lower fees

[manic spindle]

If you choose to claim sILV instead of ILV as yield farm rewards from your staking, yes.

[brisk surge]

If I stake for 12month ILV after the 12month period is over i can Unlock my ILV. If i choose to leave it there unlock will be available any time and weight will still be 2?

[manic spindle]

Correct, unlocked deposits remain staked and keep their token weight until you withdraw. The same is true for unlocked rewards. They remain staked with token weight 2.0 as well after their 12 months locking period.

[normal blaze]

Well added the address manually to mm for slp token as couldn’t copy and paste anywhere, swapped it all seemed to work as didn’t really know what I was doing lol. So 2k of ilv and 2k of eth adds to 1.617 slp token, is that normal?

And now go back to illuvium and stake it in the flash pool right?

[eager lynx]

It's about right. Yes, go back to Illuvium staking, core pool, select the Sushi LP, choose lock time and stake.

You will have to approve your SLP first (that will be your first transaction). After that, you will actually stake (second transaction)

[normal blaze]

I have my slp in mm now

[coarse dome]

I hope there will be a combine function, so we don't need to withdraw stake or reward one by one to lose gas fee

[eager lynx]

Hopefully by the time the vesting ends gas fees will be a problem of the past 😄

[coarse dome]

🤓

[gloomy thistle]

Heys guys, noob question time. say the time comes and I can withdraw my ilv rewards from staking and I claimed it and it would be released 1 year after claiming ok so far so good.

Would the ilv that I originally staked remain on the pool until I withdraw it but would no longer generate rewards until I re-stake it?

[manic spindle]

Locked or Unlocked makes no difference in terms of generating rewards (except that locking in the first place gives you a higher token weight and thus more rewards). Only when you withdraw something does it stop to generate rewards. If you keep it staked after a possible locking period, it will continue to generate rewards with the token weight it got from locking in the first place 🙂

Yield Farming Rewards will last for three years in total. RevDis rewards hopefully for decades 🙂

[gloomy thistle]

Makes sense, the only thing that changes is the weight. Thank you.

I dunno what revdis means, do you have a link where i could read about it?

[manic spindle]

!revdis 🙂

[woven ibex]

The tokenomics of this DAO include a 100% revenue distribution (could be subject to change - DAO governance). This means that any kind of revenue generated through sales or in-game revenue is distributed back to holders of staked ILV. The same max supply of 10 Million ILV will be used for this purpose regardless of how many games the DAO develops.

Revenue distribution is paid out in the form of unlocked ILV and the payout is done multiple times a week without a fixed schedule. Before paying out revenue distribution, the vault converts ETH spent in-game into ILV by buying it off the market which puts buying pressure on the ILV token and thus supports its price development.

[gritty charm]

for the sushi lp (ilv/eth) that i have staked. once the vesting period is over. i withdraw.. what will i get? get back the units of ilv + eth that i have stake at first place?

[manic spindle]

Weight changes due to a possible lock, yes. It does not change when something unlocks, just to be clear here. If you lock for 12 months (either manually when depositing, or automatically when claiming ILV as rewards from yield farming) then those tokens will keep their 2.0 token weight after they unlocked until you withdraw them completely.

[manic spindle]

No, you get back ILV/ETH in the balance it is on that day. Otherwise Impermanent Loss wouldn't really exist, would it? 🙂

[gritty charm]

yeap understood. but i will get the ILV and ETH units? or do i need to head to liquidity in sushi to set up something?

[gloomy thistle]

Withdraw the original ilvs i staked right? Which is different from the yield rewards from staking. The weight wont change if I withdraw the rewards?

[manic spindle]

Everything you withdraw loses their weight. If you lock for 12 months, withdraw after those 12 months and immediately re-stake those tokens, then they are back at 1.0 unless you lock again for 12 months. Token weight bonus is kept as long as tokens are not unstaked (=withdrawn).

[gloomy thistle]

Sorry, just so its crystal clear for me im a bit slow. I meant the rewards from staking. Say I staked 10 ilvs and locked it for 1 year. It generates 20ilvs so in essence i had originally staked: 10 ilvs , but now i have: 30. But even if i withdraw the 20 i got from rewards the weight would return to 1.0 for the 10 that i originally staked?

[manic spindle]

No. You need to look at every batch individually. Every time you deposit something it is staked as its own batch and the same is true for every time you claim ILV as rewards. If you claimed at least once already (or deposited more than once) then you can see under "Vesting" more than one entry. Every one of those entries is treated individually. So if you withdraw one of them, then those tokens in your wallet are back to token weight 1.0 unless you would lock them again when re-staking. All the other batches of ILV you might still have under "Vesting" are not affected by that.

[gloomy thistle]

Ohh okay! Now I get it. Thank you for the patience and explanation ☺️

[knotty heron]

How much ILV are you guys getting a day on average through your staking? 🙂

[wanton nova]

Hey, say I'm staking in the ILV and SLP pool and also in the AXS flash pool. I want to withdraw my AXS. To do so I first have to claim rewards, right? If I choose ILV as a reward (for the AXS pool) I have to claim ALL pools, right? But if I choose sILV I only claim the rewards from the AXS pool and the rewards from the two other pools remain untouched. Is this correct? And if this is correct will there be one or two transactions to be approved in metamask?

[winter dew]

HELLO. Newbie here. Is it okey to stake 4 ILV tokens on the main ILV pool?

[mint cave]

certainly

[gritty charm]

yes. definitely ok to stake

[winter dew]

Can I get something in advance from this? like the sILV?

[mint cave]

you can claim your rewards in sILV, yes

[gritty charm]

when you start staking. your rewards will increase daily. can xchange ILV or sILV

[winter dew]

You guys are big help. Thank you so much. God bless you all

[mossy grove]

I have just over 3 ILV staked and it seems to generate 0.01 ILV every 1.5~2 days at 2x weighting. hope that helps

[sonic wolf]

This is me staking since day one ONLY my airdrop (I added some ETH to provide SLP on sushi). Other then that, no ILV was purchased on this wallet. As you can see, it is pretty fucking profitable

[normal blaze]

How often do u claim rewards, I have similar chart

[sonic wolf]

I claim every 2-3 ILV, when gas around 20-25

[normal blaze]

Every months?

[sonic wolf]

nah, as soon as I have 2-3 ILV collected

takes about 2 weeks i guess

[normal blaze]

2 weeks ok thank you 🙂 do rewards from both pools go to same area to claim at once or 2 different claims?

[mellow thorn]

Buy Moore 🚀🚀

[manic spindle]

You claim rewards per pool individually but when claiming LP pool rewards you are forced to claim ILV pool rewards at the same time.

[cloud quiver]

Damn. I need to get in on that SLP. Everything I have is in just the ILV. I was going to buy more ILV once I had some dry powder but I think I’ll just buy ETH and stake it in the SLP

[normal blaze]

Ok thank you, so might as well just claim both at once then I suppose

[normal blaze]

U need eth and ilv to make slp

[manic spindle]

Claiming LP will automatically force you to claim ILV. If you claim ILV alone and then LP you will be forced to claim micro ILV rewards again. So if you want to claim LP then do that. Only claim ILV pool rewards directly if you want to do so at a time where you aren't claiming LP pool rewards as well soon after 🙂

[normal blaze]

Yea that’s what I ment sorry, every time I claim il claim lp which will make me claim ilv at the same time right?

Thanks bro 🙂

[ornate gorge]

what wallet can I use when staking ilv?

[slow moss]

Metamask works for me

[mint cave]

metamask is strongly recommended, we can help you much easier with metamask

[ornate gorge]

How much is the ideal budget for staking?

[mint cave]

however much you think is worthwhile, keeping in mind average ETH gas fees

[ornate gorge]

is it necessary to buy 1+ ilv? or below 1 ilv would do?

[mint cave]

you can buy as much or as little as you wish

[wanton nova]

Hey, say I'm staking in the ILV and SLP pool and also in the AXS flash pool. I want to withdraw my AXS. To do so I first have to claim rewards, right? If I choose ILV as a reward (for the AXS pool) I have to claim ALL pools, right? But if I choose sILV I only claim the rewards from the AXS pool and the rewards from the two other pools remain untouched. Is this correct? And if this is correct will there be one or two transactions to be approved in metamask?

[brisk surge]

Which is difference between core pools and flash pools

[manic spindle]

Core pools last 3 years. Flash pools last 14days and require outside tokens.

[brisk surge]

So 1ilv/ 1eth give 1 slp?

Which can be staked in slp flash pool?

[manic spindle]

No. You are mixing several different things. For LP read this:

!lp

[woven ibex]

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

[indigo bridge]

The slp is a core pool

[manic spindle]

And then in general you should look at this IN DETAIL 🙂

!read

[woven ibex]

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

[indigo bridge]

Stormi do you recommend staking in both pools? Is one better than the other (unlocked)

[viscid glade]

im looking to stake ilv in the sushi lp pool & currently buying it & stacking up but taking time with my withdraw limit. Im buying ilv do I keep just stacking it & halv e it later on sushi swap? or should I start buying eth

[manic spindle]

I don't recommend pools, sorry. It depends on risk tolerance, size of bags, available funds to claim rewards, etc. I gladly help with info for understanding but these kind of financial decisions need to be made by everyone individually. And if someone lacks the understanding to make such a decision, they should keep doing their research until they understand it 🙂

[indigo bridge]

Gotcha, thank you for the reply 🙏🏻 will be moe vigilant in my research

[manic spindle]

For you to decide. You need to evaluate if you think it's cheaper to buy ETH right away or if ILV f.x. could go up much more during that time and thus you gain more profits via ILV and then swapping some to ETH despite gas fees.

[viscid glade]

thanks stormi

& sorry for the terrible grammer 🙂

[wanton nova]

@manic spindle can you answer this? Pretty sure about the first part (if I withdraw AXS and claim the rewards as sILV I don't have to claim the rewards from the other pools) but do I have to pay gas once (sILV claim + AXS withdrawal in 1 txn) or twice?

[manic spindle]

Withdrawing requires you to claim the rewards in that pool. This is the case for core pool. I do expect it to be the same for flash pools, which means it would be done within the same transaction when you withdraw, but I cannot say that with 100% certainty.

[wanton nova]

Ok thanks. But can you confirm that an sILV claim for the AXS reward will not claim my other pools rewards as sILV as well? To me, it reads that way

[manic spindle]

To my knowledge, only the LP pool requires you to claim both core pools when claiming, but as said, I haven't withdrawn any flash pool tokens myself yet.

That message clearly says "this pool" to me as well though.

[wanton nova]

alright thanks

[ornate gorge]

which one could be more better and stable? flex staking or the locked one?

[opal onyx]

you know how the staking rewards are vested for 12 months, if I claimed now am i able to restake?

[signal wraith]

Claimed rewards are already restaked for 12 months.

[opal onyx]

ohh so it just compounds i see thanks

[mint cave]

neither is more or less stable.

if you lock your stake, you gain more rewards over time, that is all

[mint cave]

APY is not locked in or anything like that

[keen crest]

When you stake your ILV, does that stake you for rev divs + ILV or sILV farming simultaneously? I mean at the same time but default with out having to register separately for both?

[quaint socket]

If I'm staked in the Lp Pool flexibly, can I add more SLP? I'll have to claim my rewards first though right?

[signal wraith]

Yes you can and yes you will

[quaint socket]

I can just stake it though and then it'll prompt me to claim first?

[signal wraith]

Just go click stake and it will prompt you to claim rewards.

[quaint socket]

Cheers 🙂

[gritty charm]

anyone recommend ilv/eth stake? the slp one. 0.158 now consider high?

[full lagoon]

How can i i know the amount of SLP that my ILV/ETH can produce? As i want to add on my stake a specific nunber of slp.

[proper atlas]

please someone know if there is a minimum amount for stacking??

[mint cave]

there is no minimum, but transaction fees sort of act to create a minimum

[signal wraith]

Nobody knows there are a lot of factors.

[proper atlas]

Thanks 👍

[signal wraith]

Oh I see what your saying. When you go to add liquidity doesn't it show how much you are making? Sorry idk that one

[knotty wedge]

probably a stupid question, but the APY is adjusted after I stake, right? or is my APY % the same until I withdraw?

[signal wraith]

It changes

[quaint socket]

If I wish to stake additional SLP, does it only stake the SLP I'm adding or is it both the original and the new ones

[vague thistle]

If I stake 10 ILV for 52 weeks, do I have 20 ILV at the end of the lockup regardless of APY?

[spiral flame]

no

[vague thistle]

It was a dumb question but one can hope;)

[spiral flame]

it always depends on the apy

[cunning perch]

the APY of the single pool will drop 3% every fortnight (2 weeks) so It will not be the same 🙂

[vague thistle]

They should change that and give me 10 for every 1. Can we vote on that just for me?

[cunning perch]

you'll be far off with the Rev you receive. Rev will dwarf the YF rewards anyway regardless of which pool you've invested in.

[vague thistle]

Any price targets on Rev?

[cunning perch]

#💰〕token message

[elfin aspen]

Do your rewards from staking that are still unclaimed in the pool remain unstaked until you recognize the reward and it starts vesting?

[cyan rampart]

So your rewards live in the rewards pool - once you claim them they become staked for 12 months and start collecting rewards.

[brisk surge]

yes you have to claim your reward to have it vest

[quaint socket]

If I wish to stake additional SLP, does it only stake the SLP I'm adding or is it both the original and the new ones

[cunning perch]

you can add whatever and how much ever you want in either pool. It'll compound to your previously added stake

[magic ledge]

staked locked for 12 months

SLP finally. let's go.

[desert harbor]

Hey all, quick question, and sorry if this has been answered a million times. Do I have to claim the ILV ive earned from staking for it to compound? Or do the rewards automatically compound without claiming?

[mint cave]

yes you must manually claim them

[magic ledge]

please can we take it to $2000 a peice

[manic spindle]

Price discussion in #💰〕token please, thanks 🙂

[magic ledge]

i know, last comment

[wheat kestrel]

For revenue distributions while staking is still active (ie. next few years), what is their token weight? 2?

[manic spindle]

Depends how you staked them. Claimed ILV rewards that weren't unstaked keep 2.0. Deposited ILV you staked yourself will have whatever token weight they got depending on your choice of locking period.

[jolly ridge]

Does token weight even matter when it comes to RevDis? I thought it was unrelated and only effected the yield farming side of things?

[manic spindle]

Token Weight matters. Pool weight does not for RevDis.

[kind vigil]

Hi guys, just wanted to ask a hypothetical question on staking in SLP pool. Let’s say hypothetically price of ILV = price of ETH at the end of your staking period. Would obtain an equal quantity of ILV and ETH for your SLP Tokens?

[jolly ridge]

So for example 1 token staked at 2.0 will be counted at 2 tokens and get paid out 2x RevDis?

[manic spindle]

Yes

[jolly ridge]

Wow well that just got me way more excited ha thanks

[wheat kestrel]

Well, I was referring to a scenario where let’s say, you receive 1 ILV from RevDis. So, you’ll see this 1 ILV on the vesting tab, unlocked. So, my question was, if I don’t withdraw that 1 ILV, will it receive staking rewards.

[jolly ridge]

Pretty sure you will need to claim and stake it in order to start receiving rewards

[valid kite]

Y’all got any idea why my SLP tokens are not showing up in my wallet?

[jolly ridge]

Your MM wallet?

[eager rover]

Is it not showing up in etherscan ?

[valid kite]

It worked, I got it

[winter dew]

I have a newbie question. I've staked for a year on the ILV pool. Once the game is live is it okey to claim the sILV token and will not affect my locked pool

[valid kite]

Yes

[vestal skiff]

Claiming both ILV and sILV will not affect either pool you just create 2 pools one for sILV and one for ILV.

[valid kite]

What have y’all’s gas prices been looking like when staking

I just was trying to add some IVL to the staking pool and the gas was like 150 usd 😦

[winter dew]

Thank you guys. Is it okey to only stake for 1 pool main ILV. Or do I need to stake on the other one? Thank you

[valid kite]

The main pool is 100% fine, staking in both is just a choice

[winter dew]

Thank you mate. God bless

[rancid plover]

Just wandering if I understand IL. Say you buy SLP at ETH 3000/ ILV 300. The greater the percentage of change the greater the loss. (i.e. ETH 3500/ ILV 700) But as long as the percentage stays about the same, there is little to no loss. (i.e. ETH 7000/ ILV 700) Would this be a fair assumption?

[cyan rampart]

Yeah that's correct, if the % increase in both tokens in the pair is the same, there is no IL (i.e. both up by 20%).

If the increase (or decrease) diverges, like ETH drops 30% but ILV goes up by 50%, IL gets really high. There should be an IL calculator in the pins if you wanna play with hypotheticals.

[rancid plover]

@cyan rampart And this is only realized if and or when you decide to pull out your SLP. Correct?

[cyan rampart]

Well since it's staked in a LP, you could conceivably wait to trade the SLP token back for your ILV and ETH until they were balanced again, that's the impermanent part.

It becomes permanent loss when you withdraw it 😛

[rancid plover]

@cyan rampart Cool, Thank you. Just wanted know if I understood IL correctly. Hopefully this will help others to understand it better too.

[dull bison]

When you withdraw it, sushi will send you both ILV and ETH? Or you pick SLP to ILV OR SLP to ETH?

[cyan rampart]

You stake a pair into the SLP - basically like, $500 of ETH with $500 of ILV, at the time of staking.

The LP is set up to maximize liquidity, so it will maintain an equal USD value balance of tokens.

When you withdraw it, you get back whatever the balance is at that time. If you put in $1000, you get back $1000, but the ratio of tokens may have changed.

That's kind of the easy way to think about it.

In reality, you get back the % of the pool that you put in.

So you might put in like, 5 ILV and 2 ETH, as random numbers, but then ILV goes up a lot, and you get back 3.3 ETH and 3.7 ILV or something.

I'd strongly recommend just playing with the calculator in the pins for hypothetical scenarios.

[glossy dirge]

So, why would we stake in LP then if either coin goes up, we'll have less of it when we withdraw? genuinely noob here

[cyan rampart]

The LP has an APY (Annual Percentage Return) of about 700% right now. Staking just ILV is something like 90% APY.

[glossy dirge]

and i assume i'll get ilv as a reward for it?

[cyan rampart]

ILV or sILV, your choice

[glossy dirge]

got cha! damn i should put it in SLP then. i staked in the ilv one because i didn't understand Impermanent loss. So I guess the ILV gains will outweigh the IL?

[cyan rampart]

Yeah, nothing is guaranteed, but the higher APY is intended to offset your risk of IL.

[glossy dirge]

okay thanks! If I stake in the SLP, will it force me to claim my rewards in the ILV pool?

[cyan rampart]

Yes, it will, and I've heard it can get pretty expensive, since any rewards claim is 2 transactions (claim SLP rewards + claim ILV rewards)

[manic spindle]

Correct. ILV pool rewards can be claimed individually. Claiming LP pool rewards always prompts and requires ILV pool rewards to be claimed as well.

[glossy dirge]

oh okay. thanks! I guess I can't do anything about it. I want more ILV!!!

[dull bison]

If both go up, like if i put 1 eth and 7 ILV into the SLP pool (more or less 3k +3k usd) And after a year both coins double vs the usd. Will i get .5eth and 3.5 ilv in return to maintain the 6k usd?

[mild thunder]

Hey guys I just got more ILV to stack in the pool so do I need to clam my old rewards befor I stack my new ILV?

[cyan rampart]

You'll get your share of the total pool, which will end up being the same USD value you put in I believe.

I'm not entirely clear on what happens when the overall value of a LP goes up.

But at the end of the day, if you have like, .0087% of the pool, that's what you'll get back.

[cunning perch]

Don't claim and stake. Your staking will claim your rewards in the ILV pool

[wispy ferry]

Any chance a feature will be made to claim percentages of sILV and ILV? For example, when I claim, I could take 30% in sILV and 70% in ILV?

[mild thunder]

@cunning perch so claim from the pool then I can stake... but don't do them both at the same time

[cunning perch]

for now there is nothing like that as sILV has no use case atm. You can give ideas in #814313819185741845 or #802110554784661544 or #863267087715270686 if you wanna be heard

[mild thunder]

I'm bad at discord lol

[cunning perch]

if you buy ILV, staking it will directly claim your unclaimed rewards. If you claim ILV before that, you pay one gas and then for staking you need to pay another gas. Just stake your new batch and it will claim your unclaimed rewards too.

[mild thunder]

Thank you

[cunning perch]

anytime 🙂

[strange onyx]

hey guys so I just tried reading up on the staking guide on the main website but I guess it's not as thorough as I thought. I might just be lacking the basics of staking.

So, say I stake about like 10 ILV, I get to collect things throughout the 12 month period? and it's locked up for 12 months?

[ruby wing]

check pinned

[cunning perch]

yeah. If you stake for one year, It will stay locked for one year. you get 2X weight on your stake though and therefore more rewards. YOu rewards will stay locked AFTER claiming.

[ruby wing]

there is a good tutorial

[cunning perch]

@strange onyx and ofc exactly as @ruby wing said, it's worth chechkng pinned messages

[brisk surge]

Apart from SLP staking rewards in the Illuvium website, do you also obtain the farming rewards in SushiSwap for being a liquidity provider once you cash out?

[ruby wing]

You will see the sushi rewards increasing the value of your LP stake

[strange onyx]

Thanks.

I'll end my night watching the Youtube Video and I'll be back, recharged with more questions! haha.

Again, thank you guys for the warm welcome and the newbie support.
That's a great community here.

[cunning perch]

no worries bro. Ask whatever questions you had. We'll be here

[steep quail]

okay, wanna make sure I have this right. I have some tokens already staked in LP and I understand that you must claim these rewards before adding another stake. However, I am thinking of just staking in ILV pool this time around. When I go to claim rewards, will I have to pay two gas fees? One for SLP and one for ILV or is it a single gas fee to claim from both pools? My SLP are 3 weeks in to their 52 week stake and I plan on staking my new position in ILV for 52 weeks. I have read up and lurked about in this channel but wanna make sure I understand what I am getting in to by staking in both pools. Thanks for the help.

[strange onyx]

So, for the more experienced in staking...at this price right now.
How much should one accumulate before staking?

Also, the way I read some of the pinned messages, it's better to claim the sILV?
Since unlocking ILV will be just getting locked again?

[brisk surge]

Thanks! Seems to be little volume on Sushiswap because is not even outperfoming the impemanent loss

[ruby wing]

I mean the token is also up from like 60-500+$ soo

[strange onyx]

So for the people that were early and are staking already...whenever you guys accumulate more. Does that mean all of your staked ILV is staggered?

[candid tundra]

it all accumulates to the same current reward, but your claims and vests are staggered

@steep quail different fees

[glass geode]

@cunning perch or other mods, is this statement accurate? Does any one have more information on what happens when someone stakes to the LP and both eth and ilv go up do you get back the tokens you initially put in, or the dollar value of the tokens you initially put in?

Anywhere I can find more information on this aspect of staking?

[elder dawn]

You'll get about the same number of tokens as you put in, they will just be worth more. Watch some youtube videos on how liquidity pools work. That helped me.

[next ruin]

You get your percentage of the pool back in equal parts of each.

[glass geode]

Thanks @elder dawn & @next ruin for the clarification and for the advice for YouTube vids, I'll go check those.

[quick bridge]

@strange onyx 👋

[strange onyx]

So, I'm looking at the different "pools". Core has ILV and ILV/ETH. Flash Pools i think have sILV.
I've read some of the pinned messages and I just want to know if there's a certain pool that people are prioritizing

I had a discussion with someone else and they explained an SLP pool where I need to pony up ILV and ETH equivalent, to stake what I want to stake.

[quick bridge]

the ilv only or ilv-eth pool decision is hard and no one can really say which is best. it depends on your risk appetite
what do you want to know?

[strange onyx]

basically the differences in rewards I guess. If I just stake ILV vs ILV/ETH

[elder dawn]

In addition to different risk profile, the SLP has a lot higher fees, that will kill you if your planned investment is too small.

[strange onyx]

higher fees because of the gas for claiming, or higher entry fees because of the ETH you have to pony up for the initial cost/

[elder dawn]

All pools reward either ILV or sILV. The only difference is what you stake and your rate of return.

[elder dawn]

It's more ETH in gas to do the Sushi transactions. Then more Illuvium transactions than just staking the ILV. Each claim is also a bit higher.

[elder dawn]

Not financial advise, but my approach is determine how much I want to put in, and assess if it was better to do 100% in ILV, or split 50/50, taking fees and return into account.

[strange onyx]

say for example, I wanted to stake 10 ILV.

What would my difference in rewards be staking in 100% ILV or 10 ILV/1.8 ETH

If you would be kind enough to explain that part, please.

[quick bridge]

you can calculate this yourself if you want to know in USD terms per week:

(staked amount in usd * apy %) / 52

the apy numbers on rewards page are assuming a one year lock

[strange onyx]

which pool is that calculation based off?

my bad, maybe I worded it incorrectly or I just need to get my basics locked in when it comes to staking. I feel like I'm wasting your time right now because of my lack of knowledge.
I've tried reading most of the pinned messages and the staking guide but I still don't have quite the grasp on it.

[quick bridge]

not at all! this is a complex topic and hard to explain...

here’s an example of what you’d get this week with 10 ilv and locked for one year:

.15 ilv ($5000 * .8 / 52) for ilv only, 80% apy
1.34 ilv ($5000 * 7 / 52) for ilv/eth, 700% apy

you get more in ilv/eth but you miss out on price action when ilv outperforms eth (also known as impermanent loss).
rewards are much higher to compensate for risk of IL

[idle apex]

@quick bridge are the APY values based off of zero compounding?

[elder dawn]

The APY is the current return, turning the earned ILV into cash, relative to the value you have invested in the pool. Note, these aren't fixed returns and decrease by 3% every two weeks and are based on the number of people in the pool. As more people join it will also decrease.

[quick bridge]

i don’t know how many compounding periods are used in the calculations, sorry

[elder dawn]

No compounding in the apy.

[quick bridge]

yes i had to clarify with “this week” and usd terms because they will fluctuate for the reasons you point out.

i don’t know of a better way to explain apy and pools, so i opt for a “weekly snapshot” approach giving an example with today’s numbers

[idle apex]

Is there schedule for when the biweekly ILV staking reduction changes? Or is it just 3% reduction every two weeks until all 3m tokens are distributed?

[elder dawn]

Yeah, its tricky. I just want people to know they dont just get to multiply their investment by the APY today, come back in a year, and wonder where there missing ILV is

[elder dawn]

Check out the tokenomics resource in the white paper and the medium site. Basically, week 1 of staking had a value of tokens to distribute, week 3 has 97% of the initial value, week 5 is at 94%, and so on. 1.8 million of the 3 million to be distributed go out in the next year.

[idle apex]

Thank you @elder dawn

[bleak zinc]

Hi I just staked my ILV, where can I see it?

[ruby wing]

Dashboard on the website 🙂

[junior crow]

whats the highest and lowest the SLP APY% has been?

[ruby wing]

I think just under 560% and just over 700% might be mistaken

[signal wraith]

Sushie apy is 703 right now

[wheat venture]

aight, i just staked my 4.21 ilv in the ilv pool for a year. idk how it will work out but its done

[pseudo crest]

You will be very happy with the result 😄

[signal wraith]

https://c.tenor.com/YjPBups7H48AAAAM/6m-rain.gif

[elder dawn]

Highest I saw the SLP was 740ish, after the big price run up

[waxen vigil]

Why can't I claim LP rewards without having to claim ILV pool rewards as well?

[wheat venture]

So I’m a noob to staking. Basically what I need to know is do I have to do anything to restake the rewards if I want it to compound or can I just let it sit and it will automagically

[ruby wing]

Search this channel, lots of discussion

just how the contract is set up

[drowsy wigeon]

What determines the sushi pool APY percentage?

[finite shale]

Hey guys. I have roughly $40 in the vestments. Should I claim it even though gas is around that much

[wheat venture]

So if the game launches and does well, you get rewards from the rev share on top the apy it says when you stake ?

in other words if the game jumps off and cools down a little before you can sell you still getting rewarded for its success to a certain degree

[elder dawn]

I would wait. The benefit of compounding you get wouldn't cover your gas. The reward isn't going away

[finite shale]

🍔

[marsh cloak]

I traded illuvium for ethereum but i still have illuvium and lost gas. why?

[cunning perch]

Ran out of gas probably.

[gentle inlet]

What is the minimum amount of ILV recommended for revdis

[next ruin]

RevDis goes to 100% of staked tokens.

[vestal skiff]

Ah ok. Didn’t know how that bit worked. So it happens automatically? Thanks

[stray steeple]

what's revdis?

[next ruin]

Revenue Distribution

[rain hatch]

If I have 0.5 ilv invested, every how many weeks should I claim rewards for me to not lose money on them? Cause im still confused with how the calculation works?

[signal wraith]

How much are you making daily?

[rain hatch]

Haha didn't put it on yet, still trying to understand how to put in some sushi slp aswell without spending an insane amount of gas

If I put the ilv in now, and put sushi lp like 5 minutes later, will I need to claim any reward first?

[vestal skiff]

Gas is quite a bit higher for sushi lp like double transaction fees.
Only claim when you have considerably more ilv than the gas fee. Personally I’m waiting until I have $400 of ilv to claim.

[rain hatch]

And let's say I stake ILV now and 5 minutes later I stake sushi LP, will it make me claim the 0.0000x in rewards?

[elder dawn]

The equation to me is the value gained from compounding of the claimed rewards vs gas costs. To me, $400 is still really low. The rewards dont go away, so it's the value of compounding that matters

[vestal skiff]

Not 100% on that but when claiming ilv rewards you have to do one before the other and can’t remember which one

[vestal skiff]

Yeh fair I guess it’s about activating the 12 month lock as early as possible but if that doesn’t matter then wait.

[elder dawn]

Very likely yes, you'll get an extra transaction (and gas) to claim like 0.00001 ILV

[elder dawn]

That's true, you do get it sooner. To me, I'm planning to be in for at least 3 years of rewards, so the only other value is to claim before a major rev dis event

[rain hatch]

God damn, this is really tricky to be fair. Are you guys locked in for 12m on the pools?

[elder dawn]

Yes, I'm in the SLP for 52 weeks

[rain hatch]

And did you put more money in that one for ilv? Also, if you lock it for 52 weeks, you won't be able to claim rewards or stuff to use in game whenever it launches?

[vestal skiff]

Yeah makes sense depends on your strategy. Pulling before revdis event is a good shout

[vestal skiff]

I’m locked in for 52 on sushi lp and will be chucking into the ILV pool for 26/52 weeks. You can claim sILV or ILV in rewards. sILV you can use in game and isn’t locked if you claim it so you can get in game currency whenever you want so long as you have rewards to claim.

[vestal skiff]

Also claiming earlier means you compound earlier which means more ILV

[rain hatch]

Right, that sounds great then. So that lock basically doesn't allow you to get the ilv out and turn it into eth or other crypto. But you can still claim rewards for silv for ingame use. The ilv you claim goes into the same lock correct?

[sleek berry]

What's the min amount of us$ I need to invest in order to stake? Is it 1 ilv or could be less? (Just joined here)

[vestal skiff]

Yes exactly except the ILV you claim goes into a new 52 week lock from when you claim.

[vestal skiff]

As much or as little as you like but gas fees mean there’s a minimum that makes sense. 1 ilv wouldn’t be enough for it to make sense with gas fees in my opinion. 2 ILV+ for me

[sleek berry]

So that's around 1k us$.. Gotta keep reading. Thanks btw for the response

[rain hatch]

But then wouldn't that stop the compound of ilv? If it keeps putting them into new locks

[vestal skiff]

Only claimed ILV compounds, unclaimed doesn't compound. doesn't matter the length or number of timed locks you have for compounding. What matters is how much claimed ILV you have in total

[grand pine]

u can claim silv and use it ingame right away

[hybrid wraith]

can you mix and match different periods in same wallet/ilv staking pool?

[vestal skiff]

No prob

[vestal skiff]

not sure, presume you can?

[honest wraith]

Yes you can choose whatever amount and length of time you would like as many times as you’d like but be warned that every time to stake you are forced to claim any rewards you@have accumulated ( however small it may be) and that will increase your gas fees over time

[silk scarab]

if i decide to stake more, does that mean I lose my previous APY, for example, I put about 2 ILV and it said 100% APY, and rn it's at 87% APY

Does that 87% only apply to my new stakes, or does it apply to the total (including what is already staked)?

[vestal skiff]

No it’s live APY and drops the more people come on. So your initial 2 ILV is at 87% now too

[plain hinge]

@quasi star hey mate just bringing the convo here. yeah u get 600% but its locked for a year unless u claim it as SILV which can only be used in game

[quasi star]

i see

thx i was waiting hahaha... so if more people stake at 600% the apy goes down?

[plain hinge]

not sure the exact mechanics of it but all game profits also go to a vault that usses the funds to buy ILV to give to stakers

[hardy orchid]

Hey! 100% into this game by now, didnt touch axie at all cause i just dont like the game, money just isnt enough to pull me over, but with illuvium i WANT to play the game, can i ask what kind of benefits players get investing their money now instead of players in the future? I understand the game is trying to release everyone at the same playing level, and so far i've only concluded that if i invest now, i can get the game currency at a discount as compared to other players when this blows up big

[elder dawn]

ILV isn't the in game currency, it's the governance token. Investing now enables staking at higher rewards, which can be claimed as sILV rather than ILV, with sILV being able to be used in place of ETH for in game purchases. In game currency is ETH.

[rain hatch]

Is there anyone that only invested in just ILV or just SLP? or is it better to half them?

[hardy orchid]

thanks for answering! is there somewhere i can read up on this cause i read the whitepaper and FAQ and havent really found anything much regarding this, else i could read discord over the next few days

[elder dawn]

SLP is higher risk (smart contract, impermanent loss), and higher fees, but greater reward. My thought is it requires higher risk tolerance as well as a bigger investment to make it pay off. ILV pool is more accessible and only tied to ILV price. To each their own. I'm in the SLP for what its worth.

[rain hatch]

And what would you recommend for a smaller budget? (500 usd)

[elder dawn]

(Standard not financial advise disclaimer). It seems to make more sense to be in the ILV pool and only infrequently claim rewards. I'm trying to build a calculator to help folks understand it, but lots of variables.

[rain hatch]

As I want to play the game, so something that will give me higher rewards would be more worth it for me I guess

[elder dawn]

Remember, you dont need it to play, but you could use your staked ILV to gain sILV to fund your game play. Right now $500 staked in ILV would yield about $8 per week, and decrease gradually over time. A rough guess is by December you may have around $120 in rewards earned. You'll need gas to redeem

So, net of gas fees, you'll probably come out a little ahead, plus it will keep earning if you leave it in, and you get revenue distribution on your staked ILV. Up to you if just buying ETH or something else is the better investment based on price action and fees.

[rain hatch]

Right, in this case I will pop all of it into ILV most likely, as the gas fees for putting into slp aswell seem crazy, and I feel like that will just drag me down. Would you recommend a lock on it or flexible is fine?

[stray steeple]

so i've been staked for a little under a week and have gotten .05 pending rewards is the amount i have staked what determines how much i get weekly?

[elder dawn]

My math was on 52 week lock up. At flexible, expect half the rewards. Rewards are determined by your amount staked and the current APY. The more people that join, the lower the rate, and the rate naturally decreases every two weeks

[rain hatch]

Right, I have no problem locking up to be honest but was just asking. Also, at the end of the 12 months, I will be able, if I want to, to withdraw the ilv token and turn it back into eth right? (Really sorry for the questions man, pretty much my first encounter with crypto to be honest)

Also, when staking, if there are no rewards, does it ask for gas?

[elder dawn]

Staking is engaging in a contract, so there will be ETH as gas. Any time you interact (claim/withdraw), its another gas transaction. And yes, at the end of lock up, you get you ILV back and can do whatever you want with it, and hopefully the price went up

[rain hatch]

Lovely, thank you very much for your help man, I really appreciate it, and thank you for taking the time out of your day to explain to me!

[hardy orchid]

can i confirm if i stake for 6 months and choose to get ILV rewards and put them back to compound, the rewards would then have a 12 month period locked before i can choose to withdraw them, and i would be able to withdraw my 6 month investment after completing its term?

[eager lynx]

Correct

[hardy orchid]

thank you! 🙂

[winged heath]

could someone just clarify what exactly this means?

[signal wraith]

You have pending rewards you have to claim before staking more

[winged heath]

do i actually need to pay gas to claim them ?

[signal wraith]

Just click what you want to claim your reward as and click stake. And yes you have to pay gas

[winged heath]

after i choose the coin i want to claim, then i have to pay the gas fee. That gas fee is to get the reward and also stake my new amount correct? theres no more fees after right ??

[cold flint]

Woke up to this horrifying dip. Just when I created a $2000 pair with ILV at $520.

Oh well, it is what it is. Blast off is inevitable.

[signal wraith]

Umm I've only did It once and I'm pretty sure there are 2 gas fees. 1 for claiming and 1 for staking

[eager lynx]

There could be 3 fees. 1 to claim your SLP rewards, 1 for your ILV pool rewards and 1 for staking the new SLP tokens

[winged heath]

u sure? cause i just checked the price of claiming from the rewards section and the price when i want to stake my new SLP (where it says i have to claim rewards for this to work) and they were different prices - like a $30 difference

[signal wraith]

When you claim SLP it claims ILV with 1 transaction I'm pretty sure

[winged heath]

wdym claim SLP? im just trying to stake more SLP

[signal wraith]

Do it and let me know what happens I'm waiting for funds to settle so I can transfer and stake more.

[exotic igloo]

You dont get more SLP

You get ILV rewards.

Read the medium article #28.

[signal wraith]

Watch Rahlords video he goes through the whole process of staking SLP. It is pinned

[winged heath]

i think theres a bit of miscommunication. I've already staked once in SLP. I still have that money staking. I decided i wanted to stake more money today again in SLP. When i go to stake more it says i have to first claim my SLP rewards (im choosing ILV) from the initial stake before i can pay. And its making me pay a gas fee to do so. My question is, is that one gas fee the price for me to claim my ILV rewards and stake my new SLP? or is it just the price to claim my existing ILV rewards?

[tacit timber]

when i stake my ILV in the core pool will it give me the option to earn ILV or sILV? if yes, which one are you guys chosing and why?

and does it make sense to lock in for 3 months, taking us up to when Illuvium goes live?

[candid tundra]

If the weight of the Eth pool is 78.xx and the weight of the ilv pool is 18.xx where is the rest of the yield going?

[eager lynx]

No, it forces you to claim ILV but it's 2 tx

[signal wraith]

Really? I am staked in both pools and when I claim rewards it's only 1 transaction.

[coarse harbor]

Can't remember ever posting something like that? 😅
I've got the chart of yield farming tokens?

[eager lynx]

Me too and when I claim from SLP it triggers 2 tx. One for SLP and one for ILV pool. What rewards are you claiming from?

[alpine iris]

So if I stake LP tokens from combining Ethereum and Illuvium, once I take out the LP tokens from staking, I have to convert the LP tokens back? I ask because if I convert to LP and Illuvium price jumps, then I would miss out on that since I’m currently staking LP tokens and not Illuvium correct? Hope that made sense lol

[coarse harbor]

@brisk surge this one?

I do remember something like that, don't think it was me that posted it. If i did it was likely a reply.

[signal wraith]

That is impermanent loss

[eager lynx]

Liquidity pools come with Impermanent Loss. You must decide if the rewards from the pool > IL

[winged heath]

would i be able to talk to someone in voice chat? i just need to ask some questions

[alpine iris]

Gotcha. But staking only the Illuvium crypto wouldn’t result in that because I could withdraw the same amount of crypto (assuming I didn’t lock). Just less APR. thanks!

[tacit timber]

what time scale are you guys locking up you ILV?

[rapid flax]

Where is this video my friend? I am just learning about ILV the game and would love to learn more as I also invest in ETH..any good entry videos that might help? Thanks in advance

[ruby wing]

hop in whenever we are just chatting

[signal wraith]

https://m.youtube.com/watch?v=C6YugU4zZr4&t=9s

[rapid flax]

🙏

[signal wraith]

In the video he stakes SLP and you can see all the transactions and he talks about them all. I'm pretty sure it's SLP at least

[coarse harbor]

That poor bloke haha

[wheat venture]

But theoretically the revenue share should make it somewhat safer right ? What I mean by saying that is if the ilv shoots up and the games successful then hopefully it go’s hand in hand with how much illuvium is raking in on profits . Or rather then that it’s entirely possible they make way more then is reflected the ilv pricing just holding it

[final schooner]

Will staking ever be moved to immutableX chain when game is live so fees are lower?

[signal wraith]

Negative

[alpine vault]

Probably the flash pools

[spring merlin]

Only real chance of reduced fees for staking is ETH 2.0?

[eager lynx]

possibly

[signal wraith]

We can only hope

[chilly abyss]

What's going to happen if after the period of staking your ILV it will be unlocked and you want it to stake again? Will the APY or Weight going to disappear or somewhat get less by staking it again? or it's the same APY and weight if you stake it again?

[elder dawn]

I believe I read it stays locked at the same weight until you withdraw it. No need to restake.

[eager lynx]

If you don't unstake it will be kept staking at the same weight but unlocked

[young cargo]

Hello guys, how much money do you recommend on staking? is $1000 enough already? How much gas fees will i pay for that? Thanks for answering.

[chilly abyss]

Oh okay I see. Thanks!

[chilly abyss]

What if I want it to re-stake for a higher APY and Weight? I need to re-stake it right? for a long period for the higher APY and weight.

[elder dawn]

Yes, if you redeem after unlock and lock for longer, you would increase your weight in the pool. APY does decrease over time naturally and with more people staking

[tacit timber]

how mcuh did it cost you to stake?

[elder dawn]

Its gas dependent. ILV pool was somewhere around $40 in gas for me, SLP about double that.

[chilly abyss]

Alright. Thanks mate!

[hollow salmon]

isn't it amazing just printing ILV

[sonic wolf]

i love the fucking brrrrr

[cloud quiver]

Now I feel dumb staking half my ILV for 6 months in the non-SLP pool ☹️

[exotic igloo]

ILV printing millionaires

Love to see it

[gloomy gazelle]

Imagine locking 90+% for 12 months. Now That is smooth brain move.

[brittle oak]

Imagine not having a clue what anything means 😂

[cloud quiver]

Soooo you’re saying at least I didn’t lock for 12? And that I should stake whatever ILV I have left in flex to SLP?

[gloomy gazelle]

Flex is for those that need to sell.

[gloomy gazelle]

!read

[woven ibex]

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

[turbid herald]

Staking in sushi just needs ILV? or eth? Or a coin pair?

[fathom marsh]

Noob question. I read something that you need to claim rewards every 2 weeks or so depending on gas fees related to 12 month locked period. I staked and locked for 47weeks on ilv pool. Can someone explain it further? :(

[eager lynx]

eth/ilv

[turbid herald]

Thanks!

[eager lynx]

You don't HAVE TO claim rewards every 2 weeks. It's the strategy of a lot of people to save on gas I guess

[gloomy gazelle]

You claim when you have enough rewards that you think it’s worth paying the gas fee to start the 12 month countdown and start compounding your rewards.

[fathom marsh]

Thank you guys! Last noob question. I staked 1 day ago and it is unclaimable as of now. Is it because i only have micro ilvs? And when it will be claimable? I have flexible and locked ilv rewards and it is locked and unclaimable

[exotic igloo]

Your pooled rewards are probably too small to claim yet.

[fathom marsh]

Yes and now its clear. Thank you!

[cloud quiver]

Soooo SLP 52 is the way to go if don’t need to worry about selling

[proven mason]

Pretty much. If you have no intention of selling your token regardless of price action, lock it in for the full year and enjoy the highest interest rate.

[gloomy gazelle]

https://tenor.com/view/this-is-the-way-mandalorian-star-wars-may-may-the-fourth-gif-21430119

https://tenor.com/view/lock-it-up-gif-10713574

It’s the only way to get the full 2x weight. The weight NEVER goes away if you don’t withdraw your initial deposit.

[pure shadow]

https://tenor.com/view/cat-smile-smiling-shopping-kitty-gif-18637617

[tacit timber]

so if i lock my ILV up for one year, i can still collect the sILV during the lockup period to use in game?

[gloomy gazelle]

Yeah. You get to choose what your rewards will be when you claim them. Your rewards are accruing a little bit more every block (like 15 seconds). So you can claim them many times if you think it’s worth it.

Example: 10ilv staked. In one month you have maybe 1 ILV or 1 sILV in rewards. You claim it. One month later maybe you have 1 ILV or 1 sILV in rewards. You claim it. (This is likely not enough ILV to claim for it to be worth the gas fees but you could do it this way)

[austere cliff]

Guys, am considering buying more ILV, but just wondering, which is the cheapest method of getting to the liquidity pool and then staking it? The last round I purchased ETH, sent to my metamask, then sent to zapper, then staked in in Illuvium website. This seems like a lot of transactions and gas to get to the end goal tho. Any recommendations?

[gloomy gazelle]

Just stake using MetaMask wallet.

This goes through the basic way. #🥩〕staking message

[austere cliff]

Thanks for the link, I didnt realise that I will have to claim my rewards if i want to add to my existing staking. Very good info, now im thinking twice.

[burnt ginkgo]

Difference between Flexible and Locked?

[junior shuttle]

you can withdraw your ILV at anytime with flexible

[cyan rampart]

And locked has a higher token weight, resulting in better APY. Weight varies with the lock period up to 2x weight at 12 months.

[burnt ginkgo]

no waiting period to withdraw?

[brisk surge]

The flexible doesn't have a wait period however locked does.

[burnt ginkgo]

Alright Thanks

[gloomy gazelle]

!staking

[woven ibex]

When holding ILV, staking is a way to gain additional rewards from yield farming and revenue distribution. The process for staking is the following:

• You acquire either some ILV or some Sushi LP tokens
• You go to: https://staking.illuvium.io/staking/core
• You enter the right pool according to the tokens you acquired
• You decide whether to lock your deposit or not (if locked, you will receive more rewards from yield farming and revenue distribution, but you cannot withdraw your deposit until the chosen locking period is over)
• After approving the contract (if this is your first interaction with it) you confirm the staking of the desired tokens

You can find an in-depth video for staking here: https://www.youtube.com/watch?v=C6YugU4zZr4&t=1s

[wheat venture]

What does 100% rev share actually mean ? And the rev share distribution is based on how much you have stakes right how so ?

If it’s 100% they can’t actually sustain that forever right. Or is there something I’m not getting about it

[mint cave]

it's 100%, the treasury owns a % of supply so it will also receive a % of revenue distribution

[wheat venture]

Ah nice I see

That’s cool, doesn’t get better then that. Everyone’s shares in the success

[gloomy gazelle]

Yes. It’s all based on the percentage of your holding s

[coarse dome]

is the API fixed when I made the stake or it varies with the stake pool's API?

[eager lynx]

varies over time

[cunning perch]

ILV pool drop 3% every fortnight and therefore fewer rewards will be generated. Also, the more people join the lower it goes as well. It's like adding water to a think glass of juice and it becomes thinner

[vital kayak]

Can’t stake on SLP again @hexed bough even using chrome which worked last time when you suggested, but again it’s not letting me stake after claiming awards again , $80 fee + $74 fee + 42 fee, this is crazy. Stuck in the loop of “must claim” then claim and pay fees, claimed BOTH rewards, then try stake and back to “must claim reward” wall again. And We filmed EVERYTHING, can email it . In fact, filmed trying to just claim sILV and kept failing and costing ETH out of wallet. Definitely Illuvium side

[coarse dome]

thanks

[vital kayak]

Stuck in the loop of claiming then try staking and says needs claiming. Lost $364 last time other day in 16 loop transactions

[unique bear]

Dumb question guys.... I've I've just staked SLP for 52 weeks and wanna know what the live balance of $ Value is accounting for Impermanent Loss and also the rewards gained. Is it as simple as adding the amount shown on the dashboard under 'sushi LP' tab and the rewards und the Rewards above it?

[mint cave]

yes

[vital kayak]

Is there a support email I can ask about my staking issue if no one knows the answers here? Losing hundreds in ETH fees without getting rewards

[mint cave]

your best bet is waiting for carlos to assist you - alternatively use the desktop version of metamask if possible

[brisk surge]

guys what if I claimed sILV? can i stake that one to ?

[vital kayak]

This was desktop . Those are just phone screenshots.

@hexed bough back in loop of paying fees over and over for .00000021 ILV and can’t get to STAKING behind screening window

@hexed bough was to fix it other day after I had 16 transactions I didn’t approve trying to get out of that staking METAMASK loop

[unique bear]

@mint cave OK, so the balance accounts for Impermanent Loss? Or it's just directly proportionate to the ILV price?

[mint cave]

it shows the direct value of your SLP tokens

which will account for the impermanent loss, yes

you cannot tell the adjusted ratio of ILV/ETH however, you'll have to use an app like zerion for that

[mint cave]

https://app.zerion.io/invest/asset/SLP-0x6a091a3406e0073c3cd6340122143009adac0eda

[brisk surge]

@vital kayak What amount of SLP or ILV are you using cause if it's completing transactions how often are you claiming?

[vital kayak]

If I understand your question, we tryin stake 3 ILV paired down to .7 pair , and the issue is when being made to claim our .24 ILV rewards FIRST, we immediately (on video) goto stake and pops up the window to claim .00000068 ILV 😱🤬😭

That’s the loop @hexed bough was chatting with me to resolve, and using chrome on Mac did work after he suggested, but now it’s not again

[brisk surge]

@vital kayak I see is possible it's something with your computer, the only thing I could think is try to use Firefox or clear everything including cache on your browser, have you tried this on a mobile device, or anything else besides your Mac?

[brisk surge]

@mint portal Based on the 3 ILV that you have with an APY of 87.12% (this changes overtime downward) and with a locked amount at 365 days and a claiming basis (the amount of days in which you decide to claim) you would have roughly 1.68 sILV on the current prices and state of the staking platform (this can all change with time).

[mint portal]

thank u

[brisk surge]

no problem!

[mint portal]

sILV will have the same value as of ILV?

[brisk surge]

Yes 1:1 ratio.

[sullen bluff]

Do I have to have the same amount of ILV to match my ETH to liquidate it? I only had ETH in my wallet and tried approving got ILV spend limit and a pending instead... what are my next steps?

[brisk surge]

Do you mean to add liquidity for SLP on the staking?

[sullen bluff]

Yes, I am trying.. to understand

[brisk surge]

You can find an in-depth video for staking here: https://www.youtube.com/watch?v=C6YugU4zZr4&t=1s

[sullen bluff]

I watched that tutorial, and on the liquidity part we have different options

[brisk surge]

!lp

[woven ibex]

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

[placid rune]

guys how can I convert my ILV to SLP? it seems that there is no confirm button here?

[brisk surge]

So if you look at the above response you want to get an equal amount of ILV into ETH by swapping it on sushiswap.

[vital kayak]

We’re film producers. We have 2 film studios full of high end Macs. It’s not the computers. We’re more on the semi expert level in crypto and Macs tbh with our decade experience

[brisk surge]

Yeah it would only be a web issue at this point have you tried Firefox?

[cerulean nexus]

So to understand better, I have staked 2.7 ILV + ETH and I only got 1.04 SLP. This means I get the 700% APY on the 1.04 SLP right?

With the same amount of $$$ I would've staked 5 ILV in the regular pool with 70% APY.

Considering the impermanent loss and the fact I have to stake only half of the ILV (since there's the ETH part to add), I only gain a lower benefit than I thought by staking it on the sushi pool right?

[modern night]

guys anyone experienced this?

This appeared again and again,
I've checked online and it said that the decimal points of the token might be too many so we adjusted it to 3 decimal points but still not working.

[eager lynx]

The APY is on the $ amount not the number of SLP tokens you've got. The sushi lp requires double gas to claim rewards as it claims from two pools. That's something to consider before adding liquidity.

Also, as far as I know, you don't get RevDis on your SLP. If you had had 5 ILV staked in the ILV pool you would probably get more RevDis considering land sale should be around the corner. NFA

[cerulean nexus]

Mmh but even considering the $ amount it's not 10x the regular pool (70% vs 700%)

[eager lynx]

People get so fixated by the big APY. If that so obvious everyone would stake there

[cerulean nexus]

Well I already had a bit staked on regular pool. I wanted to try the SLP too. But since I see less benefits I might add to the regular one from now on

[regal osprey]

Yes I got this. It happened when I set a limited contract allowance on my ledger hardware wallet that wasn’t sufficient for the multiple transactions required for staking, and the illusion staking interface didn’t give me the prompt to increase the allowance as needed. I had to go to etherscan and do it manually to get it to work.

[steel patio]

It would be 10x if price pegging stays the same. I have roughly 50/50 $wise in the 2 pools.

But with the liquidity pool you will suffer some amount of Impermanent Loss.

[modern night]

but we don't have a ledger wallet.
So we should do the same way like you did on etherscan? the settings you've changed there is not in default?

[worldly fog]

#🥩〕staking

[worthy egret]

Hey, whats the difference between ILV and SushiLP, I read the FAQ page but still not understand. Is sushiLP yield farming?

[cerulean nexus]

Would be 10x in terms of ILV gained if you convert them to $? Well it seemed a good strategy to have the same $ value in both pools but now I'm not so sure anymore

[regal osprey]

I’m not sure sorry, that’s just the error I got whilst using my ledger wallet, and that was the solution. You could check your allowance on revoke.cash or something similar, and if it’s too small then maybe you have a similar problem. If not, then maybe it is giving that error for a different reason.

[modern night]

we still got 50$ left for GAS, but by just confirming to stake the error will already appear.
This error seems to be common in pancakeswap.

[regal osprey]

When you first approved the SLP token for illuvium to stake, did you give unlimited allowance or choose a smaller allowance just for the amount you were doing?

[jovial nebula]

Hey Guys! Is the staking APY really an APY or is it an APR?

[modern night]

We're just staking on single pool.
We can't change the settings on metamask for that transaction since it didn't even reach there, the error shows up first

[vital kayak]

No but I can. We have chrome and opera, only tries safari and chrome, only chrome worked other day with this very same issue. Otherwise, we buy and swap with no problem even using iPhone apps. ONLY when trying to stake new ILV and being made to claim rewards first, that starts the endless loop. Rewards get claimed, staking sees .0000068 ILV generated in those seconds before trying to stake. If @hexed bough could make a wider margin after claiming and give more leeway to time to stake, idk maybe that solve it. But the video shows we go straight to trying to stake immediately after claiming rewards only for the pop up to say must spend $80 ETH to claim again that new .00000068 ILV 😩🤷🏼‍♀️

[formal dew]

im watching this to the point of liquidity. whereabouts do i approve it after i have clicked max on ILV swap to ether

[hexed lion]

I'd love to see that as I've got 1 ILV not locked that i'd like to lock for 1 year, I guess i'll have to claim, unstake, claim, stake..

[stark rampart]

nooooooo. we poor again

[austere cliff]

Considering the fact that i will have to claim my rewards for both ILV and SLP pools if i want to add my stake, would it be better if i just bought ILV and kept it in my wallet until i have accumulated at least 1.5ilv in rewards for ILV pool and about 3-5 ILV in rewards in SLP pool before i add on my stake? My ILV only pool only accumulated about 0.6ilv now.. really unsure what i should do now actually

[regal osprey]

Ah okay no worries. When I started getting the error it would do the same thing (no metamask pop up and gives you an error message straight away). If you haven’t previously given a specific allowance then it might be due to a different issue. @hexed bough was helping me troubleshoot it at the time, and might be able to help you. Good luck.

[modern night]

Thank you!

[granite wing]

Why can i not stake my sushi for my max balance

[inner estuary]

Hey guys, is there a introduction to staking document outlining the best strategy? I’m trying to decide between ILV & SUSHI LP. Also there seems to be some comments regarding the optimum amounts to stake?

Or should I just scroll through the above posts?

[slender ocean]

how much money you got

if you got like thousands of USD... go for sushi LP

[inner estuary]

I want to invest around 3-4K in ILV, but DCA over the coming months

[slender ocean]

go for it... sushi LP...

[vital kayak]

If you hadn’t staked yet, it’ll be easy since you haven’t gained any rewards that need claimed first

[slender ocean]

2k ILV 2k ETH...

[knotty heron]

Walking Feather why is that in your bio?

[vital kayak]

I would. We lost over $400 now in messed up Illuvium to METAMASK on apple devices, of course all verifiable on the blockchain, just need figure out who to deal with the issues

[vital kayak]

Ive found thos the easiest instructions . Illuvium academy kinda skipped some things that this guy addressed and we wanted. https://youtu.be/v-ooR4lP9m4

[inner estuary]

Thanks mate

[inner estuary]

Legend. I’ll give that a watch!

[vital kayak]

Sure! We played the middle 3 mins at half speed like s dozen times as we staked, because we couldn’t understand his accent lol. But was spot on

[formal dew]

honestly, i replayed it multiple times too haha

[eager lynx]

This really depends on your appetite of paying for gas 🙂 The sooner you have those tokens staked the sooner you will start getting rewards. However, you must decide if staking rewards > gas you must pay to claim

[smoky canopy]

Hmm if we are to stake in both ILV pool and sushi pool....
We should first stake in ILV, then if we immediately tried to stake in the sushi, would we still need to withdraw our rewards and pay a fee from the ILV pool we just staked in, or would we be able to bypass the fee if we are quick enough to try stake into the slp pool? Rewards are generated every 15 seconds or so?

[soft trail]

howw often should you claim to restake? Any math formulas out there

[stuck jacinth]

hi, how do i unstake from ILV core poll?

[smoky canopy]

There's a excel sheet, not sure if it's pinned... But you basically want to claim, when your rewards outweigh the gas fees.. Since they are quite high... Some claim at 2 ilv, some at 5... It just depends on you.

[soft trail]

Thanks!

[smoky canopy]

Found it... Should be used as a guideline though..

[serene tartan]

Question on the APY, why is it that the SLP APY decreased from 700%+ to 600%+ when the price of ILV went down?

[finite shale]

now is a great time to jump in huh

[inner estuary]

Hahaha just watched it. I now know what you mean!

[sage mortar]

Thanks for the sheet! It was very helpful!

[timber cradle]

The APY is tied to amount of LP'ers and to the the price of ILV

[vernal drift]

in SLP... if the price of ILV goes up the APY goes up... if the price of ILV goes down, the APY goes down

helps to offset the IL

[lean edge]

Hi guys, just would like to know if I have already staked in the ILV pool but I want to stake more into sushi LP will it make me claim rewards from ILV pool?

[kind loom]

Were you able to fix your issue?

[hexed bough]

Hey, can you send me the video you made please? I've tested this on multiple devices including iOS and was not able to replicate the issue you're facing. My guess at this point is that there could be an issue with MetaMask causing this to happen intermittently. Looking at your video could help though.

[unique bear]

Hey guys. My brain hurts a bit reading the site, but just wondered how the ILV rewards are calculated based on your staked token quantity in the SLP? And is it true that when these rewards get high enough and you're happy with the Gas, that you can claim these and generate more SLP tokens? How do you then stake the rewards to get SLP when you need to have the same amount of Eth?

[timber cradle]

!staking

[woven ibex]

When holding ILV, staking is a way to gain additional rewards from yield farming and revenue distribution. The process for staking is the following:

• You acquire either some ILV or some Sushi LP tokens
• You go to: https://staking.illuvium.io/staking/core
• You enter the right pool according to the tokens you acquired
• You decide whether to lock your deposit or not (if locked, you will receive more rewards from yield farming and revenue distribution, but you cannot withdraw your deposit until the chosen locking period is over)
• After approving the contract (if this is your first interaction with it) you confirm the staking of the desired tokens

You can find an in-depth video for staking here: https://www.youtube.com/watch?v=C6YugU4zZr4&t=1s

[manic spindle]

While some commands work for everyone atm, we ask people to refrain from using them. This is a glitch and is being worked on. If we want others than mod/team to use commands, we will set up a proper structure for it and announce it transparently. Thanks 🙂

[eager lynx]

You don't get more SLP tokens. Where did you read this?

You stake the SLP tokens into the Sushi LP and you will get ILV. This ILV can be claimed whenever you want but keep in mind the gas cost.

[unique bear]

@eager lynx OK cheers. Must have mid-read somewhere. So the ILV can just accumulate as long as you're staking in the sushi LP and becomes somewhat of a 'bonus' to whatever your investment return is from the sushi LP pool?

[eager lynx]

I am not sure what happens with the fees from Sushi. Once you stake the SLP tokens in Sushi LP you will get ILV and this can be claimed whenever you want. Once claimed, it will be staked into the ILV pool and vested for 12 month.

You could also claim sILV rather than ILV if you plan in using the rewards to pay for in-game play

[tropic zenith]

whats the difference between silv and ilv as rewards

[manic spindle]

!ilv

[woven ibex]

ILV is not needed for gameplay in any way. Instead it has three main functions:

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

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

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

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

[manic spindle]

!silv

[woven ibex]

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.

[manic spindle]

🙂

[eager lynx]

@manic spindle Do you know what happens with the rewards you would be getting from Sushi when adding liquidity? Are we forfeiting those because we are staking in Illuvium?

[unique bear]

@eager lynx OK so from what you're saying, once you claim the ILV rewards, you can't actually take it out and cash for $$? You have to vest for 12 months?

[manic spindle]

To my knowledge, they are added at the time you withdraw your LP tokens on Sushi again but I'm not 100% sure. @exotic igloo might be able to confirm this for you.

[eager lynx]

Correct

[eager lynx]

Yup, I thought so but it would be nice to get confirmation. Hopefully Rahlord knows 🙂

[tropic zenith]

i still dont understand the double fees part, does it mean that if i am in both staking pools, ilv and sushi slp, i have to claim both rewards everytinme and pay 2 gas fees?

if im in just one pool i dont have to worry about this double feee correct?

[unique bear]

@eager lynx OK, will check out what Rashlord knows. Would be good to understand what the rewards actually are. Are they currently just the LP transaction fees provided proportionate to all those who've staked? And then upon launch, should this value start to increase due to game revenue?

[manic spindle]

ILV pool rewards can be claimed individually. Claiming LP pool rewards always requires to claim both pools.

[eager lynx]

If you are in the Sushi LP you will pay two tx each time. If you are only in ILV pool you will only have to do one tx

[tropic zenith]

What if im only in the Sushi lp pool? Still 2 tx?

[eager lynx]

The fees you would be getting from Sushi would be because of trading. Nothing to do with game revenue.

RevDis will be provided to all ILV stakers but as far as I know the ILV part locked in the SLP does not count for this.

[manic spindle]

Yes, because any ILV rewards claimed will be automatically locked for 12 months and staked in the ILV pool with a weight of 2.0 for compounding.

[tropic zenith]

Oh one tx to claim the rewards then 2nd tx to put the tokens into ilv staking pool

[unique bear]

@eager lynx ahhh OK. So there's no benefit to SLP stakers in the future due to game play revenue? Damn

[tropic zenith]

This wont be the case if i selected silv as rewards correct?

[exotic igloo]

The sushi tokens or the transaction fees?

If you are talking of the transaction fees, they get added to the SLP price every swap.

[eager lynx]

I didn't say that! If you stake SLP you will get ILV as rewards. You will get RevDis on those ILV tokens you are getting as rewards

[exotic igloo]

So when you'll remove liquidity you'll have more eth/ilv

Or less depending on your IL and price

[eager lynx]

Yup, I was talking about that 0.025% or something like that you would get as swap fees

[exotic igloo]

Its added to the SLP token price

Automatically

[eager lynx]

Awesome. Thanks!

[unique bear]

@eager lynx OK, thanks for that. It's picked up in the rewards. So if lal goes well, those rewards should start adding up quicker after launch

[warm steeple]

Hey guys, want to try understand the liquidity staking a bit more. If I stake $1,000 in ILV with $1,000 in eth, lets say for arguments sake the APY is 700% constant for a year and that the price doesn't change, will I get $7,000 in staking rewards, or $14,000 ?

[unique bear]

Still not clear on how the rewards are currently calculated though

[silk meteor]

Hey @manic spindle can you please confirm this to be the case above Revdis not paid to SLP staked ILV portion, only paid to ILV rewards. Please this is very important!

[manic spindle]

LP Pool does get RevDis. See a bit of explanation from Aaron for that: #🥩〕staking message

[silk meteor]

Thank you for the link! Think I read that b4 too. So SLP will get Revdis from both ways, from LP’s ILV portion and ILV rewards That’s what I thought too. This is a legit business partnership!

[unique bear]

@silk meteor that's great news!
Any idea what's contributing towards the rewards at the moment? Pre-launch.

[vital kayak]

Sent! Thank you so much @hexed bough for looking into this, we want to stake more so bad but scared to lost more ETH fees with this METAMASK Macintosh loop error

[silk meteor]

@unique bear Rewards are calculated based on your slice within a pool you’re in. The bigger your slice the bigger the rewards.. and currently apy is about 680% at this moment if you locked it for 1 yr, and if the pool balance didn’t change

[unique bear]

OK, so the rewards are essentially being added up incrementally based on the %APY? And no other current influence? @silk meteor

So if I invested $1000 say into SLP for 1 year @ 700% the current rewards are being paid out as increments of the $7000 I should receive in total by the end (if % didn't change)

[silk meteor]

Not so sure if anybody else can give an exact amount after 1 year because ILV price itself will fluctuate and the pool balance goes up and down.

[warm steeple]

are the % APY based on total staking on both tokens ? ie the value of ILV and ETH is considered?

[steel patio]

Yes

[warm steeple]

ty

[cloud quiver]

Really regret locking half my ILV in the basic pool instead of SLP 😡

[turbid herald]

What's SLP? Newbie here

[serene tartan]

Sorry, I didn't quite get that. How will impermanent loss be offset by decreasing APY?

[serene tartan]

Sushi liquidity pool

[turbid herald]

Ohhh

[ocean quiver]

Would be great if the devs could make stakes lockable without the need to withdraw and re stake

[brisk surge]

You only have to re stake after the max 52 week locking period, do you mean like a longer lock?

[ocean quiver]

Thanks for the reply! I have my ILV staked but not locked… I would like to lock it in but to do that will cost me $100 to withdraw and then another $100 to restake in the same pool just locked

[gritty charm]

should have locked it in the first place haha

[final steppe]

You wouldn't need to restake that original balance that you staked for 1 year. Once the tokens are unlocked, they will continue to yield farm in that pool with a token weight of 2.0 until you decide to withdraw them. If you do withdraw them though, then you'd need to restake and lock for another 12 months if you want the 2.0 token weight again @ocean quiver

[final steppe]

Ahh yeah, to move from flexible to locked you'd have to withdraw and stake again.

[brisk surge]

Thanks for the clarification! So after 12 months your stake simply becomes claimable, you don’t have to unstake it.

[elder dawn]

Just watch for low gas. If you want to lock for a longer time, the gain in yield will likely offset your gas fees.

[ocean quiver]

Ok thank you everyone

[final steppe]

Correct! And it will still farm with the original token weight you set when you first staked it 🙂

[warm steeple]

Oh that's cool, so if we stake for 1 year, and leave it in for 1.5 years - it will have 2 x weighting for the entire 1.5 years without having to change anything ?

[wheat kestrel]

That’s correct

[warm steeple]

Thank you 🙂

[vital kayak]

@jovial moat

Again shout out to @hexed bough who solved the Mac/METAMASK/ staking bug issue. Much appreciate your time sir!

[warm steeple]

Any liquidity mining experts available for a discussion to try and get to grips with the risk/rewards ?

[coral jackal]

I can't bring myself to claim my rewards at the $100 gas range. I've been holding off, but I don't know it'll get any better any time soon.

[warm steeple]

etherscan seems to think gas prices are about $20 to add/remove LP from staking right now ?

Oh wait that's uni, not sushi right ?

[coral jackal]

At 30 gwei and two transactions, it's over $100 at today's eth price

[spiral flame]

what bug was this?

[warm steeple]

oof

[spiral flame]

I've been trying to claim my rewards for more than 2 days now 😅

[wheat kestrel]

What did you set gas to?

[spiral flame]

it was 25 gwei. Metamask chose it for me. I did not edit anything

[cunning perch]

you can still add gas imo. Have you tried that?

[spiral flame]

The 'speed up' option on mm is gone 😦

[cunning perch]

look in the transaction section. It should be there. Two buttons saying Speed up and Cancel

[warm steeple]

Am I right in thinking your rewards cannot be hit by impermanent loss ? Unless you restake them after receiving them ?