🥩〕staking

[cunning perch]

rewards will be locked in the single ILV pool and safe from IL

[round prism]

This has probably already been answered, but does anyone know if I stake SLP, do I earn rewards on the value I put in to SLP (ETH and ILV) or do I only earn on the ILV?

[thin patrol]

You earn on this https://app.zerion.io/invest/asset/SLP-0x6a091a3406e0073c3cd6340122143009adac0eda

[round prism]

So that is the value of SLP including the ETH and ILV I put in. Awesome! Thanks!

[warm steeple]

thanks

Is the bonus from lockup period linear? Ie 1 month lockup gives + 8% ?

[sonic wolf]

more or less should be

[keen phoenix]

If I stake sushi-ilv LP as flexible, am I paid ILV or sILV? And how long are rewards locked (or not)?

[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.

[wheat kestrel]

Is it going to be possible to do a “batch claim” or will each need to be claimed individually?

[manic spindle]

Batch claim? Regardless of how many individual stakes you have in a particular pool, all of them ramp up one individual pool of rewards for that pool together.

[desert radish]

How do I calculate the apy to apr from the slp staking Pool? If I were to stake and not compound everyday

[wheat kestrel]

I guess claim is the wrong word but what I mean is, if you are on the vesting tab of the dashboard. Will each of those need to be withdrawn as an individual transaction? For those whose RevDis is smaller because they have a smaller amount of ILV staked, the gas fees could really eat into their RevDis.

[manic spindle]

Revdis will be something that needs to be claimed but also in one pool, I guess. More info about that will come. When it comes to actually withdrawing the individual batches you see under "Vesting". Those need to be done one by one at this point in time, yes. This might change in the future, but that I cannot promise.

[wheat kestrel]

So RevDis will show up under Rewards first?

[manic spindle]

RevDis needs to be claimed. How, I cannot say yet. Gotta wait for that.

[ornate cypress]

I think revdis needs to be separate because they will not be locked when claimed

[manic spindle]

It will be a separate pool for sure, yes.

[cunning ruin]

how long does it take to approve staking? mine is still pending in metamask and its been 3 hrs in etherscan

[eager rover]

It depends on how much gwei you put in your transactions. If it is too low you may have to wait until gwei hits the number you chose

[wheat venture]

As long as I can put the rev dis into my locked staking pool even if takes another transaction so be it

I want to compound and compound and compound some more

[elder dawn]

The apy and apr listed are the same. There is no automatic compounding in the pools. You must actively claim rewards, then they are moved to the ILV pool, and earn rewards based on that pool's rate

[desert radish]

So just from 1slp token I would get 6 in a year? 0,5 per month?

[next ruin]

That USD value worth of ILV, yeah. But APY will drop over time

[upper cargo]

Should i just close my eyes and stake, paying 100dolars for gas ? is it worth?

Should i wait for it to drop on a weekend?

[eager rover]

Closing your eyes and doing financial decisions sounds like a bad idea. that being said gas prices have been around this range for days

[upper cargo]

I agree, im trying to see will they drop for a week or so

[next ruin]

I'd watch for a week and try to snipe a low gas time - if things are staying pretty high, maybe close your eyes and dive in then?

[final steppe]

We can't make those decisions for you.
My recommendation is to keep your eyes open so you can make sure you are selecting the options you want 🙂
Gas isn't too bad all things considered, but Sat/Sun evenings tend to be a bit lower sometimes

[robust pond]

Hi. I have some SUSHI LP staked on flexible and I plan on staking more in the following days. I was planning on locking my currently staked ones for a year (withdraw then re-stake on a 1 year lock) and have the next one on flexible. Is it possible?

[mint cave]

sure is

[upper cargo]

Well yes, im just asking for recommendations 😒 thank you guys, much love

[eager rover]

https://www.gasnow.org/ go track by the hour you can see best time

[robust pond]

Oh, neat! Thanks

[upper cargo]

Thats awesome, thank you!

[midnight owl]

Hi im new in staking. I have a question what is the difference when i stake in sushi LP vs ILV . Is it different coin ? Or what will you recommend thanks

[manic spindle]

!lp Both pools give the same rewards but the amount is different because of a different APY. LP is usually higher risk for possibly more rewards 🙂

[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

[midnight owl]

Thanks bro

[floral onyx]

is it possible to automatically make the ilv gained from staking to go back into staking. like an auto stake in gains

[mint cave]

when you claim, it does exactly that

you must manually claim them, no automatic claiming

[floral onyx]

ohh okay. cause theres gas cost in claiming which sometimes adds up

[mint cave]

it does indeed, so you'll have to make a personal calculation as to when you think it's worth claiming

[desert radish]

so common sense would be only claiming if gas fees are lower than claimed prizes right? or should i take into consideration how much more would it generate from staking several times against time needed to cover gas fees?

[mint cave]

both really, personally i usually claim when my gas fees are <1% of the claim amount

i know that probably isn't ideal, but just what i normally end up doing

[wheat venture]

does the illivium zero revenue go to stakers as well ?

[manic spindle]

Yes. Everything this DAO produces in revenue goes to staked ILV holders 🙂

[wheat venture]

awesome, thanks for the information

[vague thistle]

Bro, you have a thousand tokens

[dusk fog]

I just staked in the SLP pool and I was already staked in the ILV pool, although I thought I'd be forced to claim the rewards from the ILV pool before staking in SLP but turns out my rewards from ILV pool are still unclaimed. Is it only when you restake in the same pool that rewards have to be claimed first?

[final needle]

Apologies for the dumb question, but with the APY being so much higher in the sushi pool, if I'm looking to start staking (I only have ETH atm), should I set that up instead of the ILV pool?

[elder dawn]

Entirely up to you. There is more risk associated with the SLP, which is attempted to be offset with the higher rate. Rewards from the SLP are claimed and placed in the ILV pool.

[elder dawn]

I cant recall on the initial staking, but when you claim from the SLP, it will definitely claim your ILV rewards

[final needle]

So for the "safer" pool, I just buy ILV via Sushi and then stake it.

For the SLP, I buy some ILV then pair it with ETH essentially? Is the risk there due to it being locked up? Or

[dusk fog]

Okay, thanks!

[sinful pond]

risk in SLP pool is you would not capture much upside if ILV increases a lot in value relative to ETH (called "impermanent loss"). but as long as you stake it and generate more ILV, the higher % yield offsets that risk

[final needle]

So basically, since you get SLP tokens, if the price of ILV skyrockets, those tokens will be worth less ILV when you want to convert them to ILV?

[sinful pond]

yup. You'd get back more ETH but less ILV basically if that happened

[elder dawn]

There is also more risk in SLP smart contracts, and higher gas fees in the transactions, just fyi.

[inner estuary]

So if I put in 1 ILV token at an original price of $500, and I put in $500 of ETH. Then ILV goes to $2000 and ETH stays consistent. When I withdraw, do I not receive $2500 in return when I cash out?

[brisk surge]

No because the ratio in between ILV and ETH relative to when you get in wouldn't be 50:50 anymore.

[vestal skiff]

No you suffer permanent loss if you withdraw

[sinful pond]

in that circumstance, you'd suffer some impermanent loss--- use this calculator and play with figures to see (approx 22% with your situation): https://dailydefi.org/tools/impermanent-loss-calculator/

[next ruin]

Depending on how long you stay in the pool you might end up with something like $1000 of each or something like that. See calculator just posted

[vestal skiff]

It’s only impermanent loss if you don’t withdraw. Permanent if you withdraw.

[sinful pond]

the value of your SLP will probably increase overall but you'd take out less ILV

[spring merlin]

I need a meme for when you're trying to stake and gas spikes to double what you put in the transaction

[brisk surge]

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

[next ruin]

https://tenor.com/view/disappointed-disappointed-fan-seriously-what-are-you-doing-judging-you-gif-17485289

[spring merlin]

I'll take it. Also good advice to just look away for the next hour and hope it goes through. Possibly better advice is to do fast gas when staking, especially if you have to claim rewards from 2 pools at the same time.

[vestal skiff]

Realistically both should rise considerably in the medium to long. Most likely ILV more than Eth. APY will make up for it 😁

[tidal vine]

whatever you do don't bite a bullet

got 22 ilv where to stake?
can match eth if its better

[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

[junior shuttle]

Go to the Illuvium website, under "staking"

Give the above a good read also.

[tidal vine]

wondering if its better to stake ilv or the eth/ilv pair its my first time staking something
ill check it out maybe it was too late last night when i was reading, couldn't wrap my head around it

[brisk surge]

So if you look at this graph you can see you get 80% of the distributed rewards through ILV/ETH, whereas ILV pool gives you 20% of those rewards and the added dilution of the pool since all rewards go into that pool.

[tidal vine]

so the ilv pool is better long term because part of the ilv/eth goes to it?
but the eth/ilv is better short term

[junior shuttle]

all the ilv go to the ilv pool

[brisk surge]

If your goal is accumulation then going into the ILV/ETH pools make more sense since it gives you more rewards compared to the ILV only pool.

[tidal vine]

i want to get more ilv long term
what the advantage of the ilv pool?

i read that rewards from the ilv/eth pool have to be restaked in the ilv pool, right?

[brisk surge]

The advantage is you don't risk IL due to only having one asset ILV compared to having ILV/ETH.

All staking rewards from either ILV or ILV/ETH go into the ILV pool

[tidal vine]

thats what has been holding me back, doesnt providing liquidity mean i can loose ilv? becasue people buy it

[brisk surge]

Yes you would lose some of your initial ILV in Impermanent Loss but you are also getting 80% more of the distributed rewards so you would make it all back. You can play around with the numbers here if you would like https://analytics.sushi.com/pairs/0x6a091a3406E0073C3CD6340122143009aDac0EDa

[tidal vine]

thank for your help, so you are saying the amount of bonuses makes up for the loss?

[brisk surge]

Yes sir.

[tidal vine]

is there a way that could not be true in practice? like if the price of ilv mooned, and all my ilv got bought up, then i was late to buy more? sorry for the noob questions. i get a ilv/eth staking token as a reward? and then i use the lp tokens to stake for more ilv?

i feel underwater

[brisk surge]

So if are you are locking for the entire 12 months you get the most out of the APY compared to say doing flexible then that might have been true doing 12 months lock you will always get more even if the APY decreases.

[tidal vine]

ok thank you, ill take that info and try to build on it

[brisk surge]

You're welcome if you got any questions doesn't hesitate to ask!

[next ruin]

When you stake in either pool you get ILV tokens as a reward, which will be locked and earn further rewards over the next 12 months

[tidal vine]

i see on the site i stake lp tokens. i thought i needed to stake at sushi swap eth and ilv

[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 provide liquidity at sushi swap, then take the tokens from there and stake on Illuvium site.

[brisk surge]

You are getting the SLP first from sushiswap in providing both ILV and ETH and then staking it on their platform that video should help you out.

[tidal vine]

right thats what i thought.
thank you both

[fallen crow]

Hey I'm pretty all I'm pretty new to staking and I've watched the youtube video on staking already but still have some questions. My transactions are running out of gas. I have my gas limit to 25000, max priority fee to 4 and max fee to 101. I've even tried putting the limit higher with no success. Is there something I'm doing wrong?

[strong saffron]

hi

why cant i stake?

[brisk surge]

Are you using "Fast" gas currently on https://www.gasnow.org/ ?

[brisk surge]

Are you having trouble with the website?

[mint cave]

25000??

[fallen crow]

@fierce stream there isnt an option for me to just put the gas price as 190 under details

[mint cave]

that's like 20x too low

at least

[strong saffron]

i cant post picture but im trying to stake the sushi LP one and i have half eth and half illuvium but it still doesnt let me

[fallen crow]

@mint cave should I do fast x1000 to get the limit?

[strong saffron]

@brisk surge oh nvm i forgot to check but my trans for my illuvium is still pending lol

[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

[mint cave]

really you shouldn't be adjusting the gas limit

[fallen crow]

I've done 100,000 with no success

[brisk surge]

have you watched the video already?

[brisk surge]

Oh okay make sure you use the correct gas.

[strong saffron]

wdym? which gas should i use

[brisk surge]

https://www.gasnow.org/

[strong saffron]

oh okay yea i know about that

[stuck jacinth]

when i claim rewards are they locked for a year?

[prisma juniper]

Yes. unless you claim sILV, which you can use right away (no game yet tho)

[strong saffron]

@brisk surge i can stake in the ilv pool but not in the sushi lp pool

[stuck jacinth]

what about my initial investment? if i wanted to withdrew from the ILV pool are they going to be locked or will they go straight to my wallet?

[stuck jacinth]

i had the flexible option

[prisma juniper]

that depends on how long you locked them up for. for example if you lock for 6 months you can't take them out until then. But if you staked flexible you can take them out anytime you want

[signal wraith]

if you withdraw ur stake it is not locked only rewards are

[stuck jacinth]

got it so only rewards are locked no matter what

[prisma juniper]

yeah

[stuck jacinth]

👍

[brisk surge]

Yes it's optional.

[strong saffron]

no i mean it doesnt show anything i cant stake

says balance is 0.0 when i have half illuvium and half eth

[brisk surge]

Did you watch the YouTube video?

[tribal path]

for how long can i be staking on illuvium does anyone knows?

[strong saffron]

infinite

[mint cave]

you can lock for up to 52 weeks

[tribal path]

i mean for how long will it be able to be stacked

[mint cave]

after that period ends, it will become unlocked - but it will still be staked at that 52 week (double) weight

yield farming will last for 3 years

[tribal path]

thank you dude

[quaint stone]

any way to stake ILV without paying huge gas fees?

[inner estuary]

With the ILV rewards from the SLP staking, are these automatically re-staked in the ILV pool?

How often are rewards issued?

[mint cave]

staking ILV will always be subject to ETH transaction fees

[next ruin]

Rewards are constantly updated - you need to claim your rewards for them to automatically added to the ILV pool, this costs gas but is the only way to compound your rewards.

[next ruin]

You need to add liquidity on sushi swap to get SLP tokens, which can then be staked in the SLP pool on the Illuvium site.

[inner estuary]

Got it. So you’re able to wait until the rewards accumulate to a value that is worth paying the gas fee for?

This discord is fucking amazing! Appreciate everyone’s help and their patience with the beginner questions 🙌🏻

[hot rampart]

Aloha, quick question. If I stake ILV for a week am I able to stake again with the rewards immediately or wait the 12 months b4 I can use the rewards from the 1 week stake? Sorry for noob question.

[strong saffron]

why so expensive

its asking me to pay 60$ gas fee when staking, does the illuvium website have that many transactions going on?

why cant we send images

[mint cave]

when you claim your rewards, they begin a 1 year unlocking period. during this period they are considered "staked" and will compound your rewards

[mint cave]

staking runs on the ETH network, these are standard ETH transaction fees

[mint cave]

you cannot send images until you achieve a higher rank in discord

[inner estuary]

So you can claim your rewards straight away to restake them, you just can’t withdraw them for 1 year post claiming

[mint cave]

correct

you gain rewards every single block (15 seconds)

but there is a minimum 0.01 ILV claim

honestly shouldnt be claiming 0.01 ILV anyways with these kind of ETH gas fees

[strong saffron]

how do i unstake?

ok nvm

[proven mason]

Technically not! If you claim SLP stake rewards, you're forced to claim ILV rewards if you have any, even if that amount is miniscule. I accidentally ended up with a reward of 0.00025 ILV this way.

[mint cave]

ahhh yes that's true

[proven mason]

Granted, this doesn't change your larger point at all, but I felt like being pedantic. 😛

[jovial moat]

I have a question about staking in the LP pool . After staking my ilv/eth say 12 months and it's unlocked will I get my eth and ILv back ? Probably a stupid question but here it is .

[manic spindle]

No. Your LP Tokens remain staked and keep their token weight of 2.0 despite being unlocked now. Only when you manually withdraw them and then go back to Sushi to turn them in will you get ILV/ETH back. But not necessarily the same ratio you put in. That's where the "Impermanent Loss" part comes in play 🙂

[jovial moat]

So basically the main reason for staking LP is to get a higher percentage of sILV?

[manic spindle]

Staking LP means accepting the risk of Impermanent Loss while gaining a higher APY. Whether or not you claim those rewards as ILV or sILV is up to you then.

[jovial moat]

Ohhhh ok I understand now ty

[kind sand]

what is the difference between the sushi pool that offers the ~700% yield and the regular pool that offers about ~80% yield?

[eager lynx]

Sushi LP comes with impermanent loss wholst ILV does not

Additionally, ILV pool means you have ILV from the get go so you are eligible for RevDis

[kind sand]

what is the difference? Like what do you mean by impermanent loss? I apologize if that is a loaded question, I am new to this and am just trying to figure it out

[onyx terrace]

Providing liquidity with ETH

[eager lynx]

in shot Impermanent Loss is when you go to redeem your SLP tokens and don’t get the same amount of ETH/ILV you initially added to the pool

But I would recommend to read up on this topic before deciding where to stake 🙂

[mint cave]

https://academy.binance.com/en/articles/impermanent-loss-explained

i know binance is ew, but that article is pretty good

[kind sand]

gotha. That makes sense. So with the sushi pool am I able to get my yield in sILV and use it for the full value of the in game currency at release?

[kind sand]

haha thanks for the article

[eager lynx]

You can claim sILV with either pool

also Sushi LP requires more transacctions to claim your rewards hence more $ spent on gas

[jovial moat]

But to my understanding is if the price of ILV hits a high say 6k just thinking out loud wouldn't it be better to get the 600-700% rewards form a 6k token and not worrying about impermanent loss vs gains for staking?

[eager lynx]

“It is better” depends on a lot of things (e.g., how much you are staking, how much eth you have to spend on gas, when do you want to get RevDis profits, etc.)

[kind sand]

also on that same note would it be more beneficial to gain that in game currency (sILV) with the 600-700% yield overall?

[mint cave]

if ILV hits 6k, the amount of ILV in your LP will be vastly reduced. even at 700% apy it would take a bit to recover that imbalance.

of course if your timeframe is fairly long, you might not care

[eager lynx]

Again, it depends on what you want to do. sILV is for the people who staked money and maybe don’t have more ETH to play the game. However, if you get sILV you are forfeiting the compounding you would get with ILV

[jovial moat]

Yea I understand I'm just trying to figure out the best way to stake my ilv it's a hard decision for me

[kind sand]

also side note, poormanprinting I enjoy your youtube videos covering the news that we are getting on the game so far. It has me wanting to make a youtube channel myself to also cover this game

[mint cave]

there are a lot of variables to consider, not an easy choice for sure 😄

[jovial moat]

Ty brother yea I'm just trying to look at every different corner of staking and bring it to the people ..

In the long run sILV might be a better choice for making in game money 💰 lol 😂 so much to consider here

[kind sand]

thank you guys for the information! I am gonna look at that article to better understand the structure of impermanent loss becasue this is a big decision to make and with the game coming so soon it is exciting to get involved with. And that is what I was thinking would be a great option for making that ingame currency because then I am not touching the ETH that I have and im using a compounding amount that will provide that in game currency for me. But again I don't know that I understand it fully and don't want to lose a bunch of money trying to same money at the same time haha

[mint cave]

in case you didn't have enough to read, check out the pinned messages at the top of this channel, then watch the youtube staking tutorial before you stake!

[vernal drift]

@wraith summit you'll find out a lot about staking in here!

[wraith summit]

Thank you

[kind sand]

haha well I actually already staked in the regular ILV pool as of right now. I am just thinking for building up the in-game currency at the fastest rate so that I can take this game and run with it at launch, then the sushiILV pool seems like a good place to look into

[vernal drift]

@wraith summit check out the pinned message first and if you have questions a lot of people are here to help

[wraith summit]

What does staking mean and how does it works and how much to start

[mint cave]

!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

[vernal drift]

ah the power of commands... love it!

[grand shadow]

Hey everyone, was just wondering as someone who is new-ish to crypto, say I was to buy AUD $500 worth of etherium then use sushi to transfer that in to ILV, would the gas prices impact me that much? Furthermore, If I was to stake this in to Illuvium, would I really be left with much? I'm a little unsure of a few things, thanks anyway!

[vestal skiff]

Very roughly gas can be anything between AUD $40-$160 to buy ilv. Staking would be slow to build at that level and only claim rewards when it’s worth it with gas fees. So if you’re in for the long haul yes. Quick buck no. Nfa

[proven mason]

Yeah, that'll hurt a bit. A decent rule of thumb is that you're looking around $50-ish per transaction in gas prices. This can be higher or lower depending on complexity of the contract and the current gas price. However, to stake in SLP, you're looking at one gas price to buy the ILV, a second gas price to convert to SLP, and then a third gas price to actually stake. And then on top of that, you've got more gas prices whenever you want to claim rewards.

[eager lynx]

You would be paying gas for 4 transactions and that would eat a big chunk of your capital

[proven mason]

Essentially, if you want to stake SLP with $500 of cash, you'll probably only end up with $300 of SLP actually in the stake pool.

[grand shadow]

Yeah okay that makes sense, it might be smarter for me to try and invest a bit more, I’ll try see what I can do, thanks everyone👍

[eager lynx]

NFA but with that amount of capital I would rather buy ILV and stake it into the ILV pool than adding liquidity to Sushi and staking in the Sushi LP

[proven mason]

A word of warning as well. If you're looking to invest as much SLP as possible, be very careful to leave enough ETH to actually stake it. Nothing feels worse than realizing you don't have enough ETH left to actually invest the SLP.

[vernal drift]

^big facts!

[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

[jovial moat]

I have another question guys ..I'm stake in ILV and let's say I don't clame my reward for 1 year and it's time I'm unlock I clame my reward in ilv dose that reward of ILV get locked up for another year?

[mint cave]

yes

[jovial moat]

Ty Jeff

[hidden epoch]

Does the 1 year lock up period still earn yield? Or is it only earned during the time it's staked?

[grand shadow]

Yeah I was wondering that too

[mint cave]

while it is locked, it is considered staked at a 2.0 weight and earns you rewards

[grand shadow]

Great, thankyou

[hidden epoch]

Awesome. Thanks mate

[mint cave]

you bet

[cloud quiver]

What is minimum amount of $ you'd stake in SLP? @vernal drift

[eager lynx]

I wouldn't stake less than 0.01% of the pool (right now that's 2.6/19 ILV). But that's just me 🙂

[cloud quiver]

2.6 ETH and 19 ILV? @eager lynx

[eager lynx]

Yup. However, that's my opinion. Everyone is free to stake as much as they want 🙂

[cloud quiver]

What’s the reasoning behind this? The risk of impermanent loss and gas fees? Or?

[sullen bluff]

Wow glad I read this in time, so I couldn't participate on SLP staking with anything less than 2.6 ETH/19 ILV

[eager lynx]

The more money you stake the less you care about gas fees because it's a small % of your total investment.

Additionally, we know RevDis does not apply for SLP tokens. How long is gonna take for that pool to generate 14 ILV? How much gas are you gonna pay to claim?

[eager lynx]

That's NOT what I said. You can stake as much as you want. That's what I would do

[kind loom]

The ILV part of your SLP apply for RevDis.

[eager lynx]

Does it? Good to know. You still have the problem if ILV pumps vs ETH your ILV part will be smaller. Isn't it?

[cloud quiver]

So what is the conclusion. Or your conclusion at least? I really cannot decide. I have 50% of my ILV already staked for 6 months in the ILV pool which was a bad move. I still have the other 50% in flex ILV. The question is do I buy more ILV or split the 50% ILV remaining into half ETH and half ILV for SLP pool? And what do I do with dry powder In the coming weeks?Continue to buy ILV?

[eager lynx]

I cannot tell you what to do 🙂

[gentle inlet]

is it worth staking 2 ILV on XYZ

[cloud quiver]

NFA of course 😏

[eager lynx]

Just do your math, check the APY, check how much ETH you have for gas, think if you want to keep your staked locked for 12 month to get more rewards although you wouldn't be able to sell if there was a massive pump. I don't know... too many variables...

[tired blade]

Hi, I don’t know if this was mentioned already before, but I have a question about ILV staking and SushiLP Staking. If I’ve staked in the ILV under flexible term, can I use the same ILV for the Sushi LP?

[kind loom]

Yes. I started with 12 ILV and I now have around 7. But my SLP gives me more reward than my ILV only stake, while being 10% of my full stake.

[cloud quiver]

10% of your total ILV you started with? If so, maybe I will only stake 25% of my ILV in SLP 52 and keep rest flex SLP or ILV. There really are too many factors to consider

[kind loom]

This is my current stake, not my initial. The exact amount are 14% in SLP and 86% in ILV only. Right now, I have 34% more rewards from my SLP than my ILV only since my last claim.

[cloud quiver]

Wow ok. Now I get it. Did you lock SLP for 52 or flex ?

[kind loom]

All my stake is locked 52 weeks.

[charred rampart]

hey you guys. the price drops and so does my core APY!! what gives!?

(just kidding, everyone is just gettin wise to the party)

[sullen bluff]

LOL!

[cloud quiver]

52 weeks just seems like such a long time to me. Plus with the vesting… looking at 1.5 years minimum to see any tangible reward

[mint cave]

bigger lock, more revdis. omnomnonnom

[charred rampart]

do what feels right. also, consider breaking it up.

25% for six weeks. 25% for eight weeks. 25 percent for X weeks.....

@mint cave. speaking of redivs. we can expect that 1 calender month from release date?

[kind loom]

I'm gonna be locked forever, so I don't mind the 52 weeks lock, just want to accumulate as much ILV as possible.

[cloud quiver]

RevDis even during vesting period?

[mint cave]

rev dis will be paid out multiple times a day at random

to avoid frontrunning the buys

[mint cave]

yep

[lilac coyote]

you're going to want to stay invested for 5 yrs at least

[charred rampart]

our mega bull has arrived.

[exotic igloo]

10 years easy

[charred rampart]

i stand corrected.

[exotic igloo]

Bull bear cycle has nothing on ILV

[charred rampart]

https://tenor.com/view/attention-attention-whore-look-at-me-pay-attention-to-me-taking-your-spotlight-gif-13301402

im down 13k today im still all like....

[vernal drift]

yup! my plan is to be staked up a few years... maybe even 5 if all goes well XD

plus if you checked out the latest illuvium interview the higher ups have stated that they will be locked in for 2 more years with their stake... correct me if i'm wrong

[kind loom]

That is right, means that supply will be diluted even slower than supposed to. Won't affect the price much imo with the vault buying 500m of token per month.

[willow kindle]

the multiplier also applies to revdis? I tought it was only to APY

[mint cave]

your token weight within the pool matters

[grand shadow]

I've settled to put $2500 in staking, lock it in for 52 weeks, here goes nothing

[mint cave]

imagine you are in the single pool with 10 tokens at 2.0 (1 year lock) weight, and only 1 other person in in the pool with 10 tokens at 1.0 weight (flexible)

if that revenue distribution buy gave everyone $10 per token, that's a total distribution into that pool(20 total tokens) of $200

now of that $200, you actually get 2/3's of that($133.33) because of your weight.

[grand shadow]

And a token is essentially 1 ILV?

[mint cave]

yeah that's what i meant by token in that example

[robust dove]

How many times do I have to pay gas to stake my ilv? Is there another transaction I have to do after confirming my wallet?

[junior shuttle]

Once to stake it. Each time to claim rewards though.

[robust dove]

Cool, seems like only $5 or so to stake then, thanks

[formal dew]

i saw in the video they said you cannot stake twice so how do i remove my current staked tokens to place a new stake

[cloud quiver]

Go to Vesting page and withdraw assuming you staked flexed

[formal dew]

cool, thanks!

[tidal vine]

If you stake for 52 weeks can you claim and add to your stake?

[mint cave]

when you claim it is adding to your stake already

[wraith charm]

Yeah they redistribute back into ilv staking once you claim

[tidal vine]

Ok I see and that’s locked for one year from the time the coin went in

Is there any negatives to claiming? Like do those rewards compound interest and they don’t yield as much in the second stake?

[mint cave]

there are no negatives to claiming - they are staked at 2.0 weight for that full year unlock period

the only negative, i guess, is that it costs a transaction fee each time

[tidal vine]

Right same yield in second pool tho ok

[chilly abyss]

how long is the staking period? and will the APY and weight keeps going even if the staking period is done?

[mint cave]

3 years, there will be no APY when the yield farming ends

[chilly abyss]

also the revdis?

[mint cave]

as long as there is revenue, there is revdis

[spring merlin]

If I stake ILV for the full 12-month lockup, does it remain at a 2.0 weight in the pool until I withdraw it? Or would I need to withdraw after 12 months and relock it?

[mint cave]

you will still need to stake to receive it, but it will now only affect your revdis weight

[mint cave]

it will stay 2.0 weight

[chilly abyss]

thanks jeff!

[foggy mist]

If I staked SLP for 12 months, what tokens will I be getting back? As in, at the end of the 12 months, I do understand the rewards are given in ILV

[spring merlin]

You earn ILV by staking SLP. You earn rewards constantly while staked but you have to claim the rewards to vest them over the 12 month period. The rewards you earn compound during that 12 month period.

[valid kite]

You will get ILV as a reward on for staking SLP tokens and you will get a proportional amount of ETH/ILV that you put into the liquify pool back. Look at impremanet loss to understand the use of the term “proportional” You will also get a small reward for the providing of liquify in the form of ILV and ETH from sushi swap itself

[foggy mist]

Thanks. I do understand that. What I meant was, do I get back the SLP after the 12-month lock-in period?

[remote sandal]

Yes

Or you can choose to leave it staked

[spring merlin]

Yes, if you chose to withdraw it once the lock-up ended you'd withdraw your original SLP. What that SLP represents could change a lot in the time you have it locked though. Make sure to understand Impermanent Loss.

[cyan rampart]

The LP will balance ILV and ETH to keep optimal liquidity in the pool. As such, your SLP token will represent a different balance of the two as the prices change.

At the end of the year if you trade your SLP token back to ILV/ETH, it will almost certainly be a different mix of ETH/ILV than you put in.

[foggy mist]

Thanks for the answers. Yes, I have read up on impermanent loss and do have an understanding of it as well. How then do we swap SLP back to ILV and ETH?

[mint cave]

on sushiswap -> liquidity tab -> remove liquidity

[foggy mist]

Roger that. Thanks for the patience in answering my questions!

[vital kayak]

Wow!!

[lime swan]

do i need to get a complete coin to stake?

[junior shuttle]

Nope

[fathom torrent]

To claim rewards in order to get your rewards compounding in the ILV pool do you just have 1 gas fee?

[patent robin]

Is staking in iLV/Eth going to be worth more in the long run than just staking iLV? I have 16 iLV and now considering staking iLV/Eth but don’t understand difference.

[drowsy wigeon]

Staking ILV/ETH has a risk of impermanent loss. However, the high apy is meant to compensate you for it. I think the best way is to have a stake in both core and LP

[dusty kraken]

What pairing is recommended to minimize impermanent lost? Or is it better to just stake ILV alone

[patent robin]

Okay but why not just stake in core and ilv? Is the potencal that much better?

[drowsy wigeon]

One gas fee if you're in the core pool. Two in LP since you're forced to claim core as well

[patent robin]

potential*

[drowsy wigeon]

Well core has a lower apy but does not get hurt by IL. Its a sure bet but lower apy.

[ashen dust]

Has there been any discussion or solutions to these insane gas fees? Especially for claiming rewards. When claiming slp rewards its two transactions so fees get hefty

[drowsy wigeon]

Aaron mentuoned that they're working on something for that but no word out yet officially. Gas is killer

[ashen dust]

Thanks!

[patent robin]

Can someone explain to me how to stake the SUSHI LP? I have about 1 eth in my wallet and I’m on sushi swap.

do i just swap the eth to iLV?

[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

[gloomy gazelle]

The video is very helpful

[patent robin]

ill check it out thanks alot

[patent robin]

Thanks so much i was able to stake SLP!

[gloomy gazelle]

https://tenor.com/view/illuvium-ilv-illuviumio-gif-22179265

[spare light]

So I can compound a locked stake ??

[gloomy gazelle]

Yeah. When you claim the rewards those rewards get staked for 12 months at 2x weight in the ILV only pool. Essentially compounding your rewards

[untold lantern]

Hi where can i monitor gas fee, i cant stake because im shirt of eth for the gas fee :(

[gloomy gazelle]

!gas

[woven ibex]

GAS fees are an important thing to consider when it comes to transactions on the Ethereum Mainnet. Optimal GWEI can be found by checking the Gas tracker bot in the discord member list and by checking historical gas prices here: https://etherscan.io/gastracker#historicaldata

[gloomy gazelle]

There’s usually a bot displaying gas too. But it appears to be offline at the moment. It happens. Dev working on it probably

[untold lantern]

Thankss

[edgy plinth]

Hey, is there anywhere I can see more detailed numbers about my reward? I am thinking, the number is not 0.11, but 0.11xxxxxxxxxxxx

[spare light]

But in a separate 12 month stake??

[cosmic trellis]

Guys if I was to stake more into the ILV pool, would I be forced to claim my current rewards?

[manic spindle]

If you want to deposit a new batch of ILV, then you'll have to claim rewards, yes. This happens in the same transaction though, so you get prompted to choose ILV or sILV when trying to complete your new deposit 🙂

[still kindle]

Hi Team. This discord is amazing - great job from everyone. Ive already staked ILV into the main ILV pool and have been earning rewards for a few weeks. I would now like to ALSO use the ILV/SLP pool. Is it possible to do this with the same wallet ? I understand I will have to collect my existing rewards and Im cool with that. Thanks in advance for any help

[manic spindle]

!lp Yes, you can stake in multiple pools and you can also make multiple deposits in one pool. Just be aware that claiming LP Pool rewards always requires a claim of ILV pool rewards too, so you'll have more GAS fees.

[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

[still kindle]

Stormi thats really helpful thank you so much

One follow up question - I am currently locked in for 12 months on the ILV only pool. Will I have to match that timeframe in the separate ILV/ETH pool or can I choose a different lock in for that ?

[manic spindle]

You can decide your lock period for every deposit individually, even within the same pool 🙂

[still kindle]

Thanks Stormi, love this community and you are a big part of that in every channel !!

[honest juniper]

Hi everyone just come across illuvium seems super cool. Was going to get a couple of gala nodes end of September but I feel this is a better project. I’m looking at buying end of September (hope I’m not too late lol) and just stake. A few questions pls.

1. can I do this off a ledger
2. do the rewards compound?
   Ideally i just want to stake for 1/2/3 years so long term thinking

[manic spindle]

• You can lock to up 12 months and gain a token weight bonus of 2.0.
• You can stake multiple deposits both within multiple pools as well as the same pool
• Yes, you can use a Ledger, I have mine connected with my MetaMask as well and staked that way
• Claimed rewards as ILV do compound, as they get locked for 12 months from the time of claiming and staked in the ILV pool with a weight of 2.0

🙂

!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

[honest juniper]

Brilliant thanks I’ll have a read now

[unique bear]

Does anyone out there have any info on expected Game launch timing?

[manic spindle]

!timeline 🙂 Also, please ask things like this in #💬〕general or #814313779696238642, thanks. This is not a staking question 🙂

[woven ibex]

• Gameplay trailer coming soon
• Closed beta in late Q3 / early Q4
• Mystery auction before launch
• Open beta / launch on PC in late Q4
• Mobile launch in 2022

Ongoing: Hiring of new Core Contributors, Influencer Partnerships and more

[unique bear]

Woops. Sorry 😬

[untold lantern]

I set my GWEI to 19 cause thats the only way my eth balance can afford. Will my transaction of staking push through even if it wil ltake longer??

[spiral flame]

maybe after a week 😄

I had mine set to 25 and its been 3 days

[untold lantern]

Haha but even if turn off my pc it will still process right? Hahaha noob question

[spiral flame]

yes.

[untold lantern]

Thankss hahaha

Hope it pushes through asap

[weary lance]

I am a contributor to Alchemist. One of our products is Crucible, a non-custodial NFT wallet for erc20.
Currently, we are using it for non-custodial staking on various tokens($MIST, $AMPL, $MASQ). More info here https://crucible.alchemist.wtf/reward-programs
We are looking for more use cases for Crucible.

How do you think if an NFT can farm in DeFi and an in-game item in Illuvium?

[inner estuary]

Just began staking in the SLP. Locked it away for 6 months. Now I’ll kick back and watch the rewards flow through 🙌🏻

[weary lance]

me too. that is why I think it would be great if we can use that value locked in staking thru crucble

[honest juniper]

I think it seems fairly straight forward thank you. If I say stake 50 ILV for 12 months and it compounds after the 12 months when it ends I could claim the rewards and not before? Ideally I want to stake and continue to stake for 2/3 years. So I take it I would have to re stake after 12 months it won’t automatically do it?

[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.

[blazing palm]

how do you unstake from the flexible?>

[honest juniper]

Thanks I’ll start looking into it more. I know it’s different but I wanted a long term NFT play and thought gala nodes would be it. But this one sounds far better to me, I know it’s not nodes but we will be getting revenue share from the games so it’s a little similar just done differently, would be great having passive income off this down the line

[grizzled salmon]

as soon as the RevDis kicks in the reward will be ILV tokens aswell, right?
Means rewards from staking will be mixed with RevDis or willl they be separatly claimable?

[manic spindle]

Any unlocked batch of ILV can be withdrawn under "Vesting".

[blazing palm]

i have nothing under vesting. but cant see a unstake button anywhere :/

[manic spindle]

If you have nothing listed under "Vesting" then you have either not corrected the right wallet or you didn't stake anything. Always a good option is to refresh or reconnect the wallet as well to make sure it loaded properly.

[blazing palm]

perfect that worked

thanks man i want to re stake in a locked for 12 months pool 🙂

[spiral flame]

Hey guys. I found a solution for those stuck transactions in metamask that cannot be canceled or sped up.

My Account > Setting -> Reset Account

This will cancel all your transactions. It does nothing else.

[humble depot]

you can also send a higher speed transaction with the same nonce to cancel it

hey guys why is the apy down so much

[spiral flame]

If im not wrong, ILV pool APY goes down every fortnight. LP APY goes up and down with ILV's and ETH's price

[manic spindle]

ILV pool APY is also affected by the fact that ALL claimed ILV rewards are staked in that pool when claimed.

[warm steeple]

Guys is the locking bonus linear ? Ie if 12 months = +100% bonus, does 1 month = +8% bonus ?

[unique bear]

Regarding the Sushi LP pool staking, Is the absolute dream of both eth/ILV as a pair both individually rise modestly, but not disparitively (so IL is minimum)? And if so, the fact that the APY is supposed to counter the IL, would the APY remain high in this case?
If not, what are the triggers for a reduction in APY over the course of say a 12 month lock in?

[candid plover]

As far as ILV yield goes the only factors that decrease your yield would be more people going the LP which dilutes your rewards as well as the planned decrease in yield every 2 weeks .

Your apy% displayed on the website will change with price action but the amount of ILV you generate is not dependent on price action.

[unique bear]

@candid plover is that decrease in yield only for ILV staking? I'm only talking about SLP at the moment

[candid plover]

I’m talking about SLP

[strange onyx]

does Trezor work with it?

[manic spindle]

I would imagine it does, but I cannot say anything about it, sorry. Maybe someone else knows more about Trezor. I never used one.

[winter dew]

@strange onyx yes it does. My mm has trezor.

[strange onyx]

okay thanks, i didn't want to use ledger since the Nano S has minimal apps haha

[lofty flint]

How long do you think slp downtrend gonna last?

[timber cradle]

Foreeever

[sudden flint]

Tell me, if the wallet is metamask, is it safe? or is it better through Leger?

[manic spindle]

Many use MetaMask only but it certainly is more safe to have a hardware wallet like Ledger 🙂

[sudden flint]

if you have already made a bet then you will not transfer to leger?

[manic spindle]

Sorry, not sure what you are getting at here 🙂 Did you mean that you already staked something and now wanted to transfer that to a ledger wallet? That would only be possible if your stake is unlocked. Then you could withdraw it, send to your ledger and stake again. If it is locked, then you would have to keep it on your MetaMask until the lock is over.

[sudden flint]

Exhaustive, thank you!

[steady trellis]

Just added 3 SLP guys to my already 9 ILV, help me retire !

I can add 3 more but i'm not sure ETH is looking good right now ...

[sinful pond]

@sudden flint metamask only is probably fine as long as you are careful never to go to shady sites or download weird stuff on your crypto computer (best to have a separate computer for crypto if you can). but if you are worried about future hacks you can always get a HW wallet (ledger, trezor) and load it with your metamask wallet so that at least you are protected going forward (tho it won't save you if someone already stole your seed phrase before)

[umbral egret]

I've just noticed something a bit loo pol about staking and withdraw ... So let's say , i understand why we need to claim when we re staking more ( i dont understand why should we automatically have to claim both pools , if i just stake something in the ILV/ETH pool ? ) ... But why also when i withdraw of the same pool , i need to claim again both pools rewards doesnt matter how much it is ?

This is clearly not practical at all , and even annoying , cause knowing this it would definitely encourage to lower the amount of transactions , but still i had to claim twice each pool for nothing the second time cause i just withdraw some SLP ( put the wrong weight by mistake a week ago ) and restake it the minute after , forcing me to do 4 claims

Do you think somehow it could be optimize there ?

[brisk surge]

So the way the staking platform works if you are staking in the ILV/ETH you still have to claim both ILV and ILV/ETH pools to get your rewards, which over time does get annoying since the transaction fee for claiming increases each time you claim. This a problem and most likely will be addressed in staking v2. Make sure you check #📣〕announcements when this update goes live.

[wind walrus]

If I already have SLP locked for 12 months, is it possible to add to that. If so how would i add?

[glossy dirge]

Question. If i stake in the slp with 700% and locked it for a year, does that mean i get 7 times my initial investment back after a year ? Thanks!

[wind walrus]

Yes, if the rate stayed constant for 12 months. That probably won't happen as more people stake

[glossy dirge]

Got cha! Thanks!

[wind walrus]

Don't forget that the new value is compounded.

[gloomy gazelle]

Yeah that’s what happens. Except all your staked batches in the same pool accrue rewards together. So when you next claim rewards those rewards are from all your stakes in the ILV only pool.

[drowsy wigeon]

im still trying to understand why the APY for sushi went up during the crazy upward run for ILV and now its back to around 600ish

[final steppe]

The way I see it, the APY is a percentage based on the number of tokens in the pool as well as the dollar value of the assets. So you'll see the APY increase if the price of the tokens increase but the number of the tokens remains the same (or decreases, in the event people withdraw). And you'll see the APY decrease if the price of the tokens decrease but the number of tokens remains the same (or increases, in the event more people start staking)

[sly spoke]

hi guys! quick question! I bought a trezor, but now, my staked ILV is on my old wallet, any way to move it to trezor?

[umbral egret]

Yup , notice that a while ago .. But didnt that when you want to WITHDRAW you have to claim as well both pools too , it's more this part that i dont understand , why should we theorically claim both pools if i remove some of my SLP ? Anyway , i'll stay aware of any announcement cheers guys , keep up the great work ... Just let people know that process of staking and unstaking many times is a big ETH sucker 😉 BIG SUPPORTER here

[sinful pond]

You can use your old wallet on your new trezor, and delete your old wallet once it's been setup on your trezor. This will help protect you against future hacks, but will not protect your wallet to the extent it already was compromised previously.

this is pretty much your only option if you're staked for a long time with your old wallet--otherwise you can slowly move to your trezor over the years, making sure you stake only on the new trezor when you're able to withdraw your rewards in the future

[drowsy wigeon]

Ohhh this makes more sense. Thanks man!

[sly spoke]

Yes, i thought the same! Thanks!

[jaunty remnant]

Sorry if this is a faq. I staked at 98-95% apy. I see now it's down to around 85%. Is it my apy from time of staking locked in or does it vary with the current apy? Thanks.

[final steppe]

Hey boshanks! No need for an apology 🙂 The APY is not fixed and will vary as time goes on. Your rewards will be accumulating at the current APY of the pool

[jaunty remnant]

Ok great thank you for the quick response!

[lethal kite]

usd 500 to stake, serious?!!!

[mint cave]

for fast gas right now yes. there is likely some project launching on the network right now

[next ruin]

Gas is bonkers right now, wait for it to be reasonable

[lethal kite]

ya. I guess as well...

[surreal patrol]

hey guys im noob with this staking. is there a lick in period or is there an option to withdraw?

lock*

[next ruin]

You can select to lock for up to 52 weeks for higher returns or stake as flexible

[sage mortar]

So. Once your rewards have vested for a year and become eligible for withdrawal. Do you have to withdrawal them all at once or can you withdrawal how ever many you want at a time?

[wind walrus]

Does the apy of 52 week locked stacking get lower every Epoch?

[fresh tangle]

Hey, guys. Looking forward in the future, will there always be single sided staking for just ILV? And is Revenue Distribution tied into that or a separate reward on top of the staking reward?

[next ruin]

Actual APY will go down 3% every two weeks, but will also fluctuate based on coin price and amount staked

[mint cave]

every 2 weeks the total token amount distributed to yield farming is reduced by 3%

[wind walrus]

Awesome. Thanks.

[mint cave]

staking will always exist for revenue distribution, yes. yield farming rewards are a separate mechanism from revenue distributions

[fresh tangle]

What about if I only wanted to stake ILV instead of the yield farm stuff (ilv/eth)? Will staking rewards be a thing In a few years along with the revenue distribution? Or will there only be revenue distribution?

[mint cave]

staking ILV is yield farming

there are 2 pools, one is ILV only, the other is ILV/ETH SLP tokens from provided liquidity to the ILV/ETH pool on sushiswap

staking rewards will last for 3 years, revenue distribution will happen as long as there is revenue

[fresh tangle]

Right, I'm talking ILV only. I don't like the risk of impermant loss. Just wondering if there will be a percent earned on top of revenue distribution?

[mint cave]

yes. there is an ILV-only staking pool.

[fresh tangle]

But only for 3 years? So that will be gone eventually?

[mint cave]

yield farming will distribute 3 million tokens over 3 years. once they are fully distibuted, yield farming ends.

[wraith charm]

dam gas fees just went straight up

[fresh tangle]

That's what I was looking for, thank you! @mint cave

[mint cave]

yw! 🙂

[fresh tangle]

So the ILV only staking pool will only receive revenue distribution after 3 years is up, correct?

[mint cave]

yes, the SLP one will too, if you chose to continue with that

any "staked" ILV will receive revdis

[fresh tangle]

And revdis starts when game comes out?

[mint cave]

when the DAO makes any revenue - the land sale, for example, comes out before the game and 100% of sales go to revdis

[glossy dirge]

question: Will i still get revdis even if I didn't lock my stake?

[mint cave]

yes, the only requirement for revenue distribution is that your tokens are staked at all

your token weight will affect how much revenue distribution you receive

[glossy dirge]

I see! that makes sense

[manic spindle]

You will get less RevDis though because unlocked your token weight is only 1.0

[fresh tangle]

Will you be able to claim and sell revdis right away or is it locked as well for 12 months? @manic spindle

[manic spindle]

RevDis has to be claimed but it is unlocked. No Vesting Period 🙂

[fresh tangle]

Well that's nice 🙂

[glossy dirge]

that's nice! i was wondering about that since I'm locking it for a year so I thought i would get my revdis after a year

[hazy token]

perhaps better to ask this question here: - 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
Does this mean that whenever you claim ILV, you are obliged to stake it and wait 12 months?

Because if that is the case, I guess you will not be able to unlock all your rewarded ILV until 12 months after your last claim?

[manic spindle]

Claimed ILV as reward from Yield Farm will be locked for 12 months, correct. No way around that.

[hazy token]

OK, thanks!

[manic spindle]

The tokenomics of this project are designed for longevity of the DAO 🙂

[fresh tangle]

And 100% of revenue goes back to as many percentage of ILV is staked? So for example, if the game(s) generate $100 million that month, and 5 million ILV are staked, that's $20 per ILV?

[brisk surge]

hey apologies if dumb question..how do you unstake? i dont see that feature just claim rewards..I did flexible staking

[sinful pond]

Yes but to clarify--each time you claim creates a new batch of claimed rewards that has its own vesting schedule. so you can withdraw each batch 365 days after THAT batch was claimed, not your last claiming event in total

[glossy dirge]

How does claiming revdis work? i assume we'll still pay tx fees?

[sinful pond]

It's in the vesting tab, you can withdraw your deposits there (if they aren't locked)

[hazy token]

sorry yes, that I was I meant, just badly explained 😅 . 12 months from each batch claim

[brisk surge]

thanks i'll look

[manic spindle]

You need to consider token weight as well but on a high-level, yes, that is correct. Check the pinned msg from Aaron in this channel for more info about that 🙂

[manic spindle]

This is to be expected, but claiming RevDis is not part of the staking site yet, so you gotta wait for more details on that.

[glossy dirge]

okay thanks! I'm hyped! LOL

[brisk surge]

got it thanks, I put A LOT of my overall stack in there ahah

[fresh tangle]

What's maximum amount of tokens eligible for staking for revdis? Will team and treasury tokens be included in that?

[manic spindle]

Team, Seed and Treasury are eligable for RevDis regardless of locking status 🙂

[fresh tangle]

Gotcha, thanks so much 🙂

[wind walrus]

I read that if a staker decides to claim sILV from their rewards; the same amount of ILV is burned. Is that correct?

[wraith charm]

yes @wind walrus

[wind walrus]

So circulating supply is deflationary?

[cunning perch]

It is not burned. I will stop the same mount of ILV to be minted and therefore reduces the total supply of ILV

[sinful pond]

I wonder if sILV will have some sort of incremental sentimental value over time...

[wraith charm]

@cunning perch thanks for correction

[cunning perch]

Burning and stopping from being minted are two different senarios which might sound the same really. However, unlike ETH that generates Rev in game, when a player uses sILV, it'll get burned forever.

[cunning perch]

no problem 🙂

[cunning perch]

use it in game and you can say goodbye to it like forever 🙂

[gritty charm]

rev dist will only be obtain after 3 years?

[cunning perch]

No. It'll be there until the game is operational....like forever

[remote sandal]

If sILV is burned after used in game then does it not contribute to revdis?

[cunning perch]

sILV is burned when used in game or buy land...and does not generate Rev. ETH only generates Rev

[gritty charm]

means like i'm already staking now. once the land sales and all started. i will receive revenue dist?

[cunning perch]

depends on how much ETH is spent. you get Rev based on that and your token weight. not the amount of sILV used

[hazy token]

Is the SLP staking reward relative to the APY, or a separate reward?

[next ruin]

The APY on the Illuvium site is your ILV rewards from staking SLP tokens. The rewards for providing liquidity (portion of fees) is a completely separate thing.

[hazy token]

OK, thanks

[dusty kraken]

Are you guys mostly staking ILV or in the LP pools?

[cunning perch]

depends. most are in both.

[dusty kraken]

Is staking the only way to make passive income? Can we sell the nft creatures?

[cunning perch]

you can capture them, and sell them. You can also sell in-game stuff like fuel. All Market Place currency will be in ETH. Staking is the only way to get rewards for now however. Later, as ETH is spent in the game, it will be used to buy ILV and distribute it among stakers as well.

[dusty kraken]

what’s fuel?

[cunning perch]

please read this #🎮〕illuvium-zero message

[wintry halo]

This might seem like a silly question, so I apologies... but does staking in SLP side of ILV, also provide Rev Dis, or just the single ILV token stake?

[next ruin]

ILV tokens staked via SLP count for RevDis as well.

[wintry halo]

Thank you Kindly

[dull pagoda]

Hello, guys! I wanna stake so I can start earning/collecting sILV and I want to use it in game. Can I ask what could be the safe lock period wherein the I can withdraw once the game is released? Hehehe. Thank you!

[cunning perch]

Hi. sILV can be claimed immediately and used in game. However, it doesn't have any use case now.

[dull pagoda]

Yup! Will only use it for game purposes. I'm thinking of going with ILV+ETH LP tokens. Can I still earn/collect sILV if I'll go with that?

[muted timber]

can someone explain RevDis like im 5?

[cunning perch]

sure. Whatever you stake in the website will receive rewards. You can choose to collec tsILV if you wish

[cunning perch]

you play the game and spend ETH. ETH goes to treasury. The treasury uses ETH to buy back ILV and distribute it to the stakers. 100% of it

[dull pagoda]

Last one, Arash. Can I still claim sILV immediately even if I'll go with locked LP token staking? Thank you very much!

[cunning perch]

doesn't matter. when you wanna claim your rewards, you can choose sILV. It'll be immediately released. make sure you add it manually to your wallet:

!contract

[woven ibex]

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

[dull pagoda]

Got it! Thanks alot, Arash! Appreciate the help!

[cunning perch]

no worries 🙂

[muted timber]

ah okay thank you. i understood the process i just didnt know it was called revdis for short. so does staking end when all ILV have been minted? im kinda new to staking in general so sorry if thats a dumb question

[cunning perch]

no you can leave your tokens there to receive Rev. YF ends in 3 years, but RevDis will be there as long as there is Illuvium. No questions are dumb 🙂

[next ruin]

The yield farming will end, but staking will still be required to receive RevDis

[muted timber]

@cunning perch @next ruin thank you! definitely makes sense now i appreciate it

[cunning perch]

anytime brother. Happy to help 🙂

[wet timber]

When the vested ILV is unlocked after 12 months, do you have to pay gas to withdraw that then stake it again to gain more rewards and rev dis ? How does this work

[cunning perch]

whatever transaction like claiming/staking/withdrawing requires a smart contract and therefore paying gas

[dull pagoda]

Not sure if I can ask here. I've approved my Metamask wallet to approve Sushi LP and it's like 20 mins. now and it's not yet done. Is it normal? xD

[wet timber]

Will yield ILV still compound after the 12 months ?

[cunning perch]

if the transaction is on going then probably it's just a congestion. you can speed it up I believe in the activity section in your MM

[cunning perch]

Whatever rewards you have after 3 years after claiming will compound to your stake. you can also stake your Rev and compound more

[next ruin]

I think if you don't withdraw your rewards after unlock they are still considered staked, no?

[wet timber]

I think its like that

[cunning perch]

yes. unless you withdraw, Then you will not only lose their weight, but will revoke the right to receive Rev for them. If you wish to stake again, you will have to lock them also

[wintry halo]

Would it be a silly idea to put everything into the $ILV stake pool, rather than the SLP? Cos I'm thinking more that it's safe from Impermanent loss, and also the Rev-dis from the future will be the big kicker. Or am I silly for not going for the 700% APY?

[cunning perch]

no you're not. I'mm all in the single pool myself as are many other whales I know here

[muted timber]

is there no revdis from staking in the SLP pool?

[wintry halo]

Thank you sir! Makes me feel a lot safer throwing it all in there!

[woeful scroll]

Guys can i ask why there are slp and axs that are of another game?

[cunning perch]

whatever pool you invest in will be subject to receiving Rev

[cunning perch]

SLP in ILV is (Sushi Liquidity Pool Token) and therefore different that AXIE SLP

[woeful scroll]

Oh

[glossy sand]

Hey, I’m brand new excuse my ignorance. I know this is looked down upon to general believers in the coin BUT I would like to stake enough to get my original investment back then completely yolo and hold the rest for however long. What’s my best approach to this as far as what leaving it flexible/locking it up for a certain time period?

[cunning perch]

Also AXIE was used in the flash pool so ppl with axie token could stake for 2 weeks and earn ILV as rewards

[woeful scroll]

Ty

[cunning perch]

to lock or not to lock is a decision you have to make really. you know yourself better than anyone and know your investment capacity. Any ideas here is NFA.

[muted timber]

is there a medium article that gives an example of how much you get, say per month, in yield farming and how much you get from revdis? its difficult to picture how much return i might get from staking

obviously there are a lot of factors, but im just looking for some kind of example case study or something

[cunning perch]

YF earning depends on the APY and it drops 3% every fortnight (2 weeks) you can read all the Mediums here:

!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

[woeful scroll]

Sry the stupid question but 640 apy is safe, not a bit toooo much?

[cunning perch]

It rusts the risk of impermenant loss

[dull pagoda]

Hello again, Arash! Can I ask if we can only claim sILV when it is 1 or higher? Hehehe. Thank you!

[cunning perch]

!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

[manic spindle]

You can claim whenever there is something to claim 🙂 Also less than 1. Just be aware of gas costs to do so.

[junior shuttle]

you can start claiming at .01

[cunning perch]

you can claim sILV and or ILV whenever you want really 🙂

[junior shuttle]

i wouldn't advise it though

[muted timber]

thank you!

[wintry halo]

Hey guys, I staked some the other day and wanted to add some more... question is, if I stake more here, is that just going to be paying the gas fee to collect current rewards, or will it collect rewards AND stake the new amount too. I just dont want to pay $40 gas fee to ONLY claim like 25 cents 😂

[dull pagoda]

Got it! Thanks, Stormi, Scuffle, and Arash! Yeah. I'll let it sit for awhile. Might collect it when the game's up. Also maybe add a few every month of so. Thanks alot, guys!

[cunning perch]

when you stake, It will automatically collect rewards as well. two birds with one stone

[junior shuttle]

If you stake again, it will make you claim current rewards

[wintry halo]

Awesome, thanks guys!

[cunning perch]

anytime 🙂

[glossy sand]

Why would you want to take the extra steps to stake ILV/ETH vs just ILV?

[woeful scroll]

I begin to think i m too old for all that, i have to study to understand what i m doing 😁

[manic spindle]

Because there are possibly more rewards for doing so at the cost of higher risks and gas fees 🙂

[cunning perch]

LP gives you more rewards if you accept IL

[cunning perch]

please do so and ask whatever questions you had and we'll help you.

[next ruin]

Have you looked at the APY on the site?

[woeful scroll]

Anyway my objective is play so, this is a plus that maybe i will do, now i study before asking question again, live u all

[glossy sand]

I just noticed 😅 maybe the steps are worth it lol

[rocky peak]

just been reading your guys conversation and have some of my own.

1. is it right that if i stake some ILV then went to stake some more i have to claim everything and re-stake it all?
2. do rewards compound?

[manic spindle]

You don't need to withdraw prior deposits to stake new ones. You only need to claim accrued rewards waiting to be claimed when staking more. You can stake multiple deposits, all with their own locking periods if you want to.

Rewards claimed as ILV do compound, but only when claimed 🙂

!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.

[glossy sand]

With yields that high I don’t see impermanent loss coming into the picture unless eth/ILV really explode. Am I missing something?

[rocky peak]

ok got it thanks for that

[next ruin]

I feel like at this point, risk is much less. If you staked before ILV exploded, you'd be looking at a lot of potential IL. Who knows where the top is tho.

[cunning perch]

well. ILV explosion started just after staking (July 1st) it might probably continue....so....yeah there will be some IL here

[woeful scroll]

Exactly impermanent loss what does it mean?

[cunning perch]

in short it means when ILV pumps, in order for the pool to keep the balance, it will sell your ILV and buys ETH. so in the end you will have more ETH that ILV. or vice versa

[glossy sand]

Ok, so your ILV staking rewards can’t be cashed out until 12 months after receiving them unless you specifically get the ones for in game correct? In which case you can use immediately in game.

[woeful scroll]

Oh ok but, to speak clear, money lvl remain the same, only u risk have eth instead of ilv, right?

[cunning perch]

depends how long you lock it. If you go max, you get "x token weight.

[next ruin]

https://academy.binance.com/en/articles/impermanent-loss-explained

[cunning perch]

unless both crash and you get bananas lol

[woeful scroll]

Ehehehheheh

[glossy sand]

I didn’t see that in the medium. So max stake you can cash your rewards when stake ends?

[cunning perch]

when your vesting/ token weight period ends, you can withdraw. Withdrawing will revoke your right to receive Revenue and you will lose their token weight. If youo wish to redeem it, you'll have to lock again

[glossy sand]

But if you stay true to the time you set you would lock it are you able to withdraw and still receive rewards?

Ftr there’s no solid YouTube videos on this. I could make one for the community if I figure this out better lol

[cunning perch]

if your stake is locked, you cannot touch it. Rewards ware also subject to a one-year lock AFTER claiming

[cunning perch]

you can check the Pinned messages. I believe there are some vids there that can help you. Still you can ask whatever you need to understand here

[woeful scroll]

Really reall thanks man, love u

[wary cloak]

Hi all, new to staking and crypto, when I connect my wallet to the illuvium site and stake my ILV can I disconnect my wallet then or must I leave it connected whilst I'm staking?

[cunning perch]

hmm. haven't done that myself really so idk. It should be ok, don't take my word for it though. but why would you disconnect? wait for some mins and it'll be done anyway.

[woeful scroll]

Anyway guys i have to say this discord and community is really mature and friendly, love it, wish a nice evening to all of u

[cunning perch]

thx. We tend to call it an academy really and it's literally a family. So don't be shy. Feel free to stay active and ask questions and contribute 🙂

[glossy sand]

Ok, a few more question and I’ll get out of your space.

1. What’s the minimum if there is a minimum?
2. If I commit to say a 26 week lockup and finish the 26 weeks. Can I then withdraw my original stake ILV out and convert it back to ETH if I choose? Then at that point I can use the in game currency I accumulated right when the game comes out OR wait a year after I claim my staked rewards?

[cunning perch]

1. no min to stake.....2) yes after locking is done you can withdraw your staked ILV (not rewards, unless their one-year vesting is done)

[glossy sand]

Can I choose as I go whether to get ILV or sLIV or do I have to select that from the beginning?

[cunning perch]

you can choose whenever you want to claim. you can choose either when you have enough to claim each time.

[glossy sand]

Thank you so much @cunning perch btw seriously you’ve been a huge help

[cunning perch]

ah don't ever mention it. happy to help 🙂

[woeful scroll]

To eventually buy land, if possible (i dont know) need to have sILV if i understand correctly

[next ruin]

Or Eth

[cunning perch]

sILV and/or ETH. ETH generates Rev, while sILV reduces the total number of ILV

[woeful scroll]

Ok perfect ❤️

[soft cliff]

I really wish I could claim my ILV from the SLP staking only and not both my SLP staking and ILV staking pools. One grows at a much larger rate of rewards so the gas for the other one isn’t worth paying

[wet timber]

I want to graduate from the ILV academy rich ! Hahahaha

[glossy sand]

Dumb question but when I go to “swap” on my MetaMask wallet it does show ILV. I did however see that they were saying beware of false tokens that are appearing to be ILV and I’m not even sure which swap this is using. Do you believe this would be safe still?

[mint cave]

you can verify the token contract on coingecko (or etherscan right there in app)

[glossy sand]

Seems legit. I would like verification if someone else has done it this way.

Should I hold more ETH than ILV to take transfer fees into account before staking both?

[woven ibex]

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

[manic spindle]

While some commands work for everyone at the moment, this is a bug and being worked on. Please refrain from using them. If we ever want others than mods/team using them, we will announce it properly. Thanks 🙂

[queen flint]

got it

[next ruin]

If you are staking in the liquidity pool, yeah you'll need to hold back some Eth for gas fees. Both for the liquidity add and the staking of SLP tokens received.

[glossy sand]

I am glad you shared that this. I didn’t thing that the ILV and ETH/ILV would be a different address

[tardy adder]

A question - now i have staked my ILV, but it doesn't show up in a zapperfi scan of wallet . . . and shows my ILV balance in MM at zero. Is there a way for it to be represented? Still shows up on ILV site

[halcyon sage]

Check you dashboard on the site

[tardy adder]

yeah it's there, but i assume it will no longer show up in my MM . . . just trying to keep things in one place

[halcyon sage]

Yea its gonna show up as 0 in your hot wallet

[tardy adder]

well alright! appreciate the help all!

[iron vector]

any news on flash pools? my ilv is staking for more ILV, but i want to stake something for in game currency too

[mint cave]

the next flash pool will be XYZ

[iron vector]

sweet. and thats just for in game currency right

[mint cave]

nope, it's the same rewards as core staking

[iron vector]

ah ok

[gloomy gazelle]

It would be nice… until you end up paying more gas to do another transaction to stake it in the ILV only pool once you claim it. It’s either gonna be able to earn while you wait for the rewards to unlock or you pay less gas. Can’t have both. Aaron wanted to be able to provide single claiming but it can’t be done how anyone would actually end up preferring it (meaning saving on gas). Read this… confusing but it’s the way it is. #🥩〕staking message

[soft cliff]

Sounds good, its not too big a deal. Thanks!

[hot moat]

i meant the technical difference @remote sandal

how does the contract know which sILV is staked and which isnt

[remote sandal]

sILV cannot be staked

[cyan rampart]

sILV can never be staked. sILV is minted when it's claimed and goes straight to your wallet.

[hot moat]

but its the ownership token for staked ILV this fucking slowmode i cant, how do you expect me to form a coherent thought in a single message

[cyan rampart]

sILV is a token pegged to the value of ILV that can be used for in-game purchases. It's not a symbolic token to represent your stake.

[hot moat]

what is the symbolic token then, want to transfer my holdings to another wallet

[cyan rampart]

There isn't a symbolic token.

[remote sandal]

When you claim rewards, you can choose either sILV or ILV, sILV can only be used for in game purchases, ILV is the governance token and will compound your staking to get more ILV over time in addition to revdis

[hot moat]

how can there not be a symbolic token, arent tokens the decentralized way of logging ownership on a blockchain

[cyan rampart]

Your stake is tied to your wallet, unfortunately. It's possible in the future you'll be able to transfer to another wallet while staked, but for now the wallet you staked with is the wallet you'll have to claim with.

[hot moat]

so the smart contract has all the stakes with their addresses in memory?

[cyan rampart]

I'm not 100% on the technical implementation, but yes.

[hot moat]

how can staking.illuvium.io check your stake then without paying gas

[remote sandal]

Yes, you can view what is being staked from your wallet on the staking page of the illuvium site

[cyan rampart]

Maybe it's stored off the blockchain. @mint cave Do you know who might know more about how staking information is stored?

[iron vector]

how do i stake for sILV?

[mint cave]

pedro would know, i assume

[cyan rampart]

@midnight geyser Curious if you're able to elaborate on how staking information is stored for users to view their stake via the Illuvium website.

[remote sandal]

Staking page of the Illuvium site

[iron vector]

i just dont understand what ilv/eth LP tokens are? i bought and staked ILV. but is that a different token

[hot moat]

ILV/ETH is a token you get from sushiswap when you provide liquidity (LP) for the exchange pool there

[remote sandal]

LP token are Liquidity pool tokens, you have to provide an equal value of ETH and ILV in sushi sqap, you get a receipt for that and can stake that receipt

[hot moat]

so you can basically stake ILV itself, or you can contribute it to the sushiswap pool to aid in exchanges and stake that

[cyan rampart]

The ETH/ILV token is a liquidity token. Basically the liquidity pool exists to allow people to buy and sell ILV for ETH without having to wait for someone explicitly selling.

When you exchange an ILV/ETH pair for a SLP token, you run a risk of IL, but to counteract that risk, the APY on the SLP pool is much higher than the Core ILV pool.

[remote sandal]

yes

[iron vector]

oh sweet, so i buy 1 ilv, and the equivalent in eth

[hot moat]

yes, then you can add it

[remote sandal]

Keep in mind the gas fees are higher for claiming from the slp pool

[iron vector]

and then stake them both in that pool.
As for gas fees, if i stake for the year it wont be too big of an issue right? ideally gas fees are cheaper by then

[cyan rampart]

It doesn't have to be discrete amounts - you could stake like, $500 of each, or $611.22 of each. As long as the value is equivalent.

[midnight geyser]

It’s all stored in the Ethereum blockchain

[cyan rampart]

Gas fees for claims on the SLP can be a bit much - after your first claim you'll have tokens in the ILV pool as well (your rewards). That means every time you claim rewards, you'll be paying 2 gas fees instead of one.

It can absolutely still be worth it though.

[midnight geyser]

Staking app queries data from the connected ethereum node, but we’re going to start querying part of the most complex data sets from our subgraph in the graph network in one of our next releases

[cyan rampart]

Thanks!

[sour root]

Staking ILV in the default ILV pool doesn't require eth right?

[hot moat]

so there is actually no way to transfer staked ILV? @midnight geyser

[cyan rampart]

Staking in the core pool doesn't require ETH, though you will pay a gas fee to stake it.

[midnight geyser]

If it's locked, nope

[hot moat]

not gaming :( thanks for the info tho

[sour root]

Is it way worse than the ILV/WETH pool? Or similar

[cyan rampart]

The cost of staking is very similar to the ILV/WETH pool. The cost that gets more expensive in the SLP pool is collecting rewards. It's about twice as much as a Core ILV rewards pool claim.

Note that staking the ILV/ETH pool does require an additional transaction (ILV/ETH for SLP token).

[hardy siren]

Request for ILV staking to be added to Debank for anyone who uses that tool. Feel free to upvote https://debank.com/vote/1385

[kindred moat]

I am staking and I was wondering if I can use silv to buy ingame usable nft's before the game launches or not?

[grand shadow]

No note prior to launch

[smoky dock]

Hi, just a question about the SLP(ILV/ETH) pool. Does this pool get revdis just like the core ILV pool? Thank you!

[halcyon sage]

Yes when you stake your SLP in the protocol it will generate ILV/sILV rewards

[halcyon sage]

No not until game launches except for the mini game land sale

[smoky dock]

Thanks for this - what about revdis? Does the revdis work the same way? Is it based on total SLP staked or only ILV portion?

[kindred moat]

Please tell me more about what the mini game land sale is?

[jolly ridge]

Check out #🎮〕illuvium-zero

[halcyon sage]

The pinned messages in #🎮〕illuvium-zero have all the info

[smoky dock]

I think I got answers from back reading a bit, please nvm about my question and thanks for your help 🙂

[manic cargo]

how risky is staking in the SLP pool, do you guys think is more worth? I dont understand what makes it be more worth or less worth can someone explain pls?

[wind walrus]

Watch a few YT videos, research Impermanent loss and decide if you want to stake

[inner estuary]

I’m currently staking in the SLP. Do you have a good strategy around when to claim rewards? Obviously you want to minimise gas fees, but you also want to maximise compounding rewards

[mint cave]

you should read up on what impermanent loss is

[mint cave]

https://academy.binance.com/en/articles/impermanent-loss-explained

[kindred moat]

thank you!

[manic cargo]

In the nomal staking, the ILV one can I have Impermanent loss?

[steel patio]

no

[mint cave]

no

[steel patio]

Worth looking up an IL calculator.

If locking, I personally think the risk is the same, but the reward is higher on SLP pool.

[cyan rampart]

I don't know if it's a good strategy, but claiming only when you have decent amounts of ILV rewards seems wise. I'm pretty happy to claim every 1 ILV or so, but I'm not holding a lot. Considering gas is almost double to claim SLP + Core Pool, I'd say you'd probably want to wait for even more rewards to claim.

[manic cargo]

how can I calculate the Impermanent loss, like this staking goes with the ETH and ILV chart right?

[mint cave]

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

[manic cargo]

but isnt that a permanent benefit of 600% APY?

[mint cave]

the APY is not fixed and will fluctuate as more/less SLP is staked, and will also fluctuate with the price of ILV

[muted timber]

how does Pool Weight play into rewards?

[mint cave]

SLP receives 80% of all yield farming rewards. single stake pool receives the remaining 20%

the flash pools receive 2% while active

[manic cargo]

but jeff can I get liquidated like a future or its imposible, in the worst scenario what happens If I stake 250$ in the ETH/ILV pool?

[exotic igloo]

No liquidation

[mint cave]

no, future's liquidation is an entirely different thing

[exotic igloo]

You are not trading

[inner estuary]

Yeah, I was thinking of waiting until gas is less than 10%, which would be around 1.5 ILV

[manic cargo]

how much gas fees would be spending 250$ to staking of ETH/ILV

[mint cave]

i do not suggest staking $250 of SLP

the fees will be a significant amount of your investment

[manic cargo]

so what do u suggest?

[mint cave]

wait until much lower gas, or accumulate a bit more before entering the pool

alternatively you can eat the fees now, and claim very infrequently and/or when fees are very very low

[vestal skiff]

Agreed gas fees would be way to high for that to make sense given current gas fees

[mint cave]

it's ultimately up to you as to whether it's "worth it" but average gas fees are relatively prohibitive for that amount.

[manic cargo]

how can i know when the fees are ''low'' and how much money would be of my 250$ investment at the current price?

[steel patio]

You will be up for ~US$100 or more atm in fees

[vestal skiff]

Cost me about $250 in fees to stake in SLP.

[exotic igloo]

Gas never going back under 30 now

Sad life.

[lilac coyote]

Not worth it.. over $100 for the staking process then potentially $30 for each claim.

To $60 for claim. So you would need to wait until the $250 staked generated enough tokens to spend the money to claim them. Don’t want to do the math right now but I imagine it would be at least 3 months until first claim

[vestal skiff]

Gas fees for staking in SLP are higher than ILV without eth pairing so maybe stake ILV when gas is low. There’s somewhere where you can check gas prices… maybe someone else has it

[sour glen]

https://etherscan.io/gastracker you can check gas prices here

[manic cargo]

But if the stacking is locked I cant reedem the rewards whenever I want right?

[final steppe]

If you locked up your staked tokens, you just can't withdraw them until the lock period is over. You will be able to claim at any time that makes sense to you 🙂 Keep in mind that ILV rewards are vested and locked for 12 months starting when you click claim.

[sour glen]

So, if I lock for 12 months it is actually locked for 24 ?

[final steppe]

The tokens that you lock for 12 months are only locked for 12 months. But then any time you claim ILV rewards, those rewards that you claimed are locked for 12 months as well in their own separate vesting period. So take this hypothetical scenario:

You staked 5 ILV for 12 months starting 8/18/2021.
You claimed your 1st batch of ILV rewards on 10/1/2021.
You claimed your 2nd batch of ILV rewards on 12/1/2021.

Your initial staked 5 ILV is unlocked 8/18/2022.
The 1st batch of rewards are unlocked 10/1/2022.
The 2nd batch of rewards are unlocked 12/1/2022.

[manic cargo]

so you are able to claim the rewards even if its a locked staking?

[wheat venture]

I’m confused by that to . So how do you restake the rewards ?

[final steppe]

Yup! Just keep in mind you'll pay gas fees whenever you claim.

[wheat venture]

It’s automatically staked for the full year when you claim ?

[final steppe]

When you click "Claim" on your ILV rewards, they are automatically vested in the ILV-only pool with a token weight of 2.0 and locked for 12 months. So they will be earning the APY of that pool 🙂

[wheat venture]

oh nice thanks for clearing that up

[final steppe]

No prob!

[wispy ferry]

I was reading the pinned message you wrote on the APYs. While the calculations make sense for the tokens you receive, aren't the APYs most affected by the token price? If all factors other than the ILV price remain the same, one would receive the same reward tokens but the APY could be more or less based on its current price in time; how significant depends on how low or high the price is....?

[wheat venture]

Is the info on the reward structure for the revenue sharing already out there or not yet ? I mean, not the exact numbers but is it in real time , intervals or will be ious for certain things like the illuvium zero profits till it’s implemented or..: can you use it or stake it right away etc.

[brisk surge]

Question, @mint cave if staking in the LP pool, earning sILV, can the sILV rewards be converted to ETH somehow, or only used in game? Can you clear up how one benefits in a monetary fashion from the sILV earned?

[mint cave]

the benefit of sILV is that you are able to claim your staking rewards immediately, more or less

there will be no official pools or conversions of sILV into any other currency

inevitably some will form on uniswap and sushiswap, of course

[brisk surge]

For now though the trajectory is that those rewards remain purely for game play costs?

[mint cave]

and realistically, if you use sILV for in-game purchases you are converting it into ETH if you sell what you get from it

yes

land will also be purchasable with sILV

[final steppe]

Yeah the APY is most affected by the token price as well as the number of tokens in the pool... assuming the number of tokens stayed the same and the price fluctuated, you'd see the APY fluctuate similarly

[brisk surge]

Thank you!

[wispy ferry]

That's what I figured. Just making sure.

[final steppe]

Revenue distributions will not be a set schedule but rather, distributed frequently and randomly throughout the week. And the tokens will be unlocked! So you can either stake them right away or swap them for another token if you feel like it 🙂

[manic cargo]

when will we know apro the price of the ''land'' and what we'll get from there?

[wheat venture]

Thanks

[jolly ridge]

Check out the pinned messages in #🎮〕illuvium-zero

[manic cargo]

And if the rewards can be given with sILV or ILV there is no fees if you claim it with sILV right?

[wispy ferry]

You could also consider swapping sILV with someone looking to come in the game (who isn't staking) at a premium. ie. Trade you sILV for 80% of its worth in ETH.

[kind loom]

27 this afternoon.

[proven mason]

You know, this strikes me as brilliant arbitrage. One side would get the immediate increased purchasing power for the land sale (or anything similar), while the other side gets more ETH they can turn into more staking power. Capitalism in action!

[wispy ferry]

Win win my friend. It would be nice if a contract could be thrown together to do atomic swaps. Should be fairly simple if it only involved the 2 choices.

[lilac coyote]

Wouldn't mind a 1 year lock up on revdis to avoid short term capital gains taxes

[proven mason]

It sounds pretty plausible. Heck, maybe even set up a mini exchange for sILV - ETH. I might just look into this.

[whole island]

So I'm on the vesting page and it wants 50 bucks to vest the ILV... what happens then? Do I have to pay another 50 just to withdraw my funds?

[wispy ferry]

That would be 🔥 . This game is going to be game-changing. The ideas for capitalizing have been flowing.

[whole island]

I don't want to vest anything I just want my AXS back... you can keep your token i'll buy it for less on the market

what's the difference between ILV and sILV

[eager lynx]

Claiming rewards will auto-stake them into the ILV pool for 12 month unless you claim sILV that you can use an in-game currency

[whole island]

Okay so is it one transaction when I click withdraw on the vesting page or will I have to do more?

[eager lynx]

I don't know but withdrawing funds should one transaction isn't it?

[whole island]

i hope so. I'm gonna be pissed if I click withdraw and it hits me with another confirm for 50 bucks lol

[stuck lichen]

Withdraw>Pay gas> staked = fin

[cloud quiver]

Do you guys think it’s worth selling half of my ILV for eth so I can stake it in the SLP? NFA of course

[lilac coyote]

how much ILV? seems easily worth it if you are putting in at least 1-2 eth worth of ILV

[ornate cypress]

I think it is now, take advantage of this wild apy before more people realize how much you get. You will make up the whole amount you put in, in ilv rewards within two months

NFA I'm just some guy on the internet. But I have slp and it's accumulating really fast

And even if you don't put in any more money, you are still accumulating ilv in the background nonstop. It's like dca without putting in any more money.

[echo steppe]

I just changed over to SLP and have earned in 2 days the same amount 2 weeks took me ith ILV

With*

[cloud quiver]

FML. I staked half my ILV for 6 months

[echo steppe]

Dont stress to much think about the gains you have had over those 2 months and only more to come

[ornate cypress]

Don't worry I did the same for the majority of my ilv. I didn't realize until after I did it. But at least have a bunch of ilv so if it does take off faster than the rewards accumulate then at least I have a decent amount to make money from the move. Whatever I add in moving forward will be sushi lp. Remember that sushi lp pool even if the apy goes down in a year that it gets 80% of the rev dis

[cloud quiver]

I feel like impermanent loss is irrelevant with that APY

[lilac coyote]

saul just come into voice chat

[ornate cypress]

If I lost everything I put in the sushi pool I'd still come out on top

[cloud quiver]

I don't have that much time, but I would

[cloud quiver]

What is a hypothetical situation where you'd lose all SLP

[exotic igloo]

If ILV and ETH goes to 0

[lilac coyote]

lose your wallet

[exotic igloo]

Or that

[cloud quiver]

So essentially nothing. And in the event impermanent loss did occur, you'd just end up with a different ratio of ILV and ETH?

[exotic igloo]

You would end up with more eth if ILV pumps

So you dont get the full valuation of ILV pumping

[stuck lichen]

Of course at the current APY, this is w/e hehehe NFA

[kind loom]

If one or the other goes to 0, what does it do?

[exotic igloo]

Apy is a dollar figure tho

[lilac coyote]

with some distorted but realistic valuations I got an edge case of 16-20% loss of either asset

[exotic igloo]

The amount of token you get is what is important

[lilac coyote]

which is insignificant compared with the reward gains, literally made up for within a month of staking

[kind loom]

If ETH only goes to 0, what happens?

[lilac coyote]

then there is a death of eth party

[cloud quiver]

But you’d still end up with the same overall amount of $ after unstaking?

[dusky atlas]

Hi, quick question. I know it might be the same but ILV and sILV have the same value right? They are just used differently

[kind loom]

Yes.

[dusky atlas]

Thanks 👍

[kind loom]

If a pool was created to trade sILV for ILV, sILV would probably go down, because people would use this to take profit of their stake.

[exotic igloo]

It would still be pegged at the same value in game

[exotic igloo]

You end up with a portion of eth and ILV depending of their price

[left wharf]

Guys, I accidently locked for far more than I wanted (1y locked). I am so stupid... It is a lot money to me but I can afford it to lose (so I am just stupid not super stupid 😋).

Anyway my question: How can I take profits to reduce risk? As far as I am concerned:

1. Redeem sILV so I can use it in the game to trade NFTs and sell them for ETH, right?

2. As sILV is spend in the game, ILV without locking is distributed to the token holders, right?

Anymore Ideas?

Don't get me wrong, I believe in ILV, I want just to manage my risk ;)

[exotic igloo]

But less than just holding ILV for example if ILV moons and eth doesnt

[left wharf]

I staked sushi LP

[kind loom]

That's why both side would be winning.

[exotic igloo]

Yes you can use your sILV to maybe make more money playing with it

[sour glen]

The 700% APY is paid in ILV or equal parts of ILV/ETH ?

[exotic igloo]

Revdis are unlocked yea

[exotic igloo]

ILV

[left wharf]

You can also redeem sILV (usable in the game)

[exotic igloo]

Makes more sense using eth to buy ILV and stake it for revdis+rewards than buying sILV with your eth

Except if you manage to get crazy returns with your sILV

[left wharf]

Okay, thanks. So I will play the game ;)

And try my best

[kind loom]

Yea, true. Anyway I don't see much necessity for this as you don't need much money to get started.

[stuck lichen]

Good luck and welcome 🙂

[left wharf]

Thanks. I need that luck 🙌 😫 😂

[cunning ruin]

if i stake my ILV for 12 months in lock and claimed it after i would have to wait another 12 months right?

[mint cave]

every time you claim, those rewards are locked for 12 months starting at time of claim

[tardy adder]

Do the rewards accumulate in the existing staked amount, or are they held separately waiting to be claimed? And does this mean we can't use them in game and we'd need to purchase separately (if we could use them in game at all)

[brisk surge]

Yes they are claimed in the existing staked amount in the ILV only pool. When you claim you can either pick to claim ILV or sILV if you claim sILV then you can use it in game.

[visual kayak]

Question: if I stake and lock it for 12 months but just wanna claim my sILV rewards, I can claim the sILV to use it in game right?

Did I miss anything?

Logic: locking it for higher reward yield but once game goes live wanna use sILV right away (just the rewards and leave the ILV to keep on staking)

Or will my the rewards also be locked for 12 months?

[brisk surge]

Yes if you just want to claim sILV they aren't locked and you can use them in game, upcoming land sale, and future use cases to come.

[visual kayak]

Thank God. Thanks!! This helps a lot

[warm imp]

if i want to stake i need to pay for taking out 0,000004 ILV

because i have staked 0,02 ILV, this is serious? paying 45 dolars for that

so if i create another meta can i stake without claiming

[left wharf]

Staking is on the Ethereum Mainet. So redeeming costs gas. With those amounts, it doesn't make sense atm...

[warm imp]

But that ilv was from axs

Now i buy 3 ILV

[glossy sand]

I’m still having trouble swapping ILV that is specifically to be paired with ETH. Isn’t it a different token address? When I used the address provided earlier it said not found.

[brisk surge]

!contract

[woven ibex]

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

[glossy sand]

Ohhhh so it’s called “SLP” at that point

Seems a bit sketchy lol

[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

[short turret]

What are some of the main staking ‘strategies’ people seem to be doing? Like half in each pool or all-in on one/sILV or ILV rewards, from the stance of a long term investor vs someone that’s going to grind the game and sell to the illuvidex

[formal dew]

just want to ask a question to the experienced people out here, whats the downside of staking with Sushi LP when the returns are way higher than staking with ILV

[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

[formal dew]

woah thanks

[cloud quiver]

I’ve been here 2 weeks and still wondering this. I staked half my ILV for 6 months in the ILV and I seem to be regretting it. Will be staking rest in SLP. Impermanent loss does not seem to be that big of a deal from what I’ve read.

[proven mason]

So, there's basically two possible reasons you might go ILV over SLP. The first is if you're betting on basically an instant moonshot. Hypothetically, if ILV were to triple in a week or something insane, your best bet would to be to hold pure ILV for that week, then convert to SLP and stake SLP.

[cyan rampart]

If you have enough to invest that gas fees are relatively small, I'd go into the SLP. If you have just enough for like 1-5 ILV I don't think staking the SLP makes much sense - you'll just be losing value to claiming fees.

[proven mason]

Assuming you're not betting on literally perfectly timing an explosion upwards, the second reason is if you're investing a small amount. SLP does mean dealing with several additional gas fees, which can be rough if you're investing something like 500$ or less.

[cloud quiver]

So bottom line…if you have a decent amount of ILV, then definitely SLP

[cyan rampart]

I also feel like IL is a very real factor since ILV could easily go 3x (IMHO, NFA, just my thoughts). If you just want some peace of mind that you're not getting ruined by IL at some point down the road, the core pool is also good.

[short turret]

For ease of math, let’s say you put 10 ILV into the ILV pool, 80% APY stays the same, and you lock for 12months. If math checks out, with the 2.0 weighting, you’ll yield 1.33 ILV/month?

[visual kayak]

Guys how much gas fee did it cost to buy ILV from exchange and how much gas fee to to stake? Ty

[gloomy gazelle]

No you’d get .667 because the 80% apy currently listed is actually figuring you are staking at 2x weight. It’ll be half the apy if you stake flexible. (But if your statement was purely hypothetical based on actually staking with those numbers then I guess yes.) it’s important to note that APY is never static.

[cyan rampart]

You'd get 8 ILV/year at 80% APY if it were static with 10 ILV staked.

[willow kindle]

when I claim my rewards for sushi and ilv pool at the same time, I have to pay gas 2 times?

[pure shadow]

hello guyz can we stake using trezor + metamask?

[junior shuttle]

This is correct.

If you claim only ILV, it will cost 1x gas. If you claim sushi it will cost 2x because it claims ILV also.

[willow kindle]

then how much should I accumulate before claiming so the gas dont hurt too much?

[cyan rampart]

That's kind of up to you. I'd recommend doing some quick napkin math - think about how you think ILV will perform and whether you stand to gain more with each claim than you spend on gas. Will the rewards you're claiming appreciably generate more ILV for you, or will it be diminishingly small?

I personally try and keep gas costs of claiming to about 10% of the value of what I'm claiming, but that's just my take on it.

[short turret]

Ahh, didn’t know the weighting was already factored in. Thanks

[gloomy gazelle]

Yeah the listed APY is the highest APY available.

[short turret]

And is it correct to say that when people claim rewards as sILV, the treasury buys ILV from the market and burns it to offset?

[gloomy gazelle]

No. It means that amount of ILV will never be minted.

[willow kindle]

10% seems reasonable, I guess it also depends on how much you have, the more you have stacked less you should pay in % since it wont take long to accumulate more and dilute the cost.
I will do some math later, thanks for the help

[glossy sand]

Would it even be worth it to stake say $100 worth ILV to dip my toes in the water while the APY is higher?

[ornate cypress]

No

[glossy sand]

Gas fees too high?

[gloomy gazelle]

Maybe. Gas fees are rough though. It’d probably be close. To not covering them.

[visual kayak]

Would 1 ILV be worth it? To lock 1 year

[gloomy gazelle]

But only staked ILV gets rev dis.

[visual kayak]

Not to mention with current MC from now to one year

[willow kindle]

well if you are going to stake just a little now and not going to stake more any time soon maybe, if you are planning to get more ILV to stake probably you should accumulate a bigger amount first

[gloomy gazelle]

Should be fine. As long as you think ILV price is going up.

[cyan rampart]

You'd spend about $30 staking (rough estimate), $30 on each claim. 1 ILV would yield something like .6-.8 ILV in a year.

IF ILV goes up a lot, that could be worth it, but you won't wanna be claiming often.

[proven mason]

Personally, I'm strongly of the opinion that if you believe in Illuvium as a product, you should absolutely be staking.

[visual kayak]

And if I wanna claim sILV I can get it immediately? Once game is live

[proven mason]

Yes

[timid torrent]

@opal elm dm

[pure shadow]

WAIT for the low gass fee period

to stake yours

[willow kindle]

the feeling of looking to the rewards increasing a little every day is so good, can't wait to claim my rewards for the first time

[gloomy gazelle]

Why ping him here in staking though? Seems likely another channel would be better suited. Hope he gets back to you.

[timid torrent]

I thought I was pinging him in general lol

[glossy sand]

Best way to check?

Gasnow.org is showing fairly low gas fees right now

[topaz lance]

https://etherscan.io/gastracker

slow mode lol, this is my preferred way to check gas prices

[pure shadow]

https://tenor.com/view/this-up-gif-8606566

[iron pebble]

At what number of ILV should one think of staking? 1? 2? more?

[rough spade]

Anyone know the number of ILV and SLP staked? I'm curious how much of the circulating supply in locked out of circulation? 🤔

[glossy dirge]

How about ilv in sushi pool? Will it get revdis?

[wispy ferry]

Cost of 1 SLP $2349.28. TVL 134,896,011.99. TVL/SLP = approx 57,420.15 SLP. But should check for errors.

Can do the same for ILV. Just divide TVL by current ILV price for total ILV

257,690,297.86/435.18 = 592,146

I'd have to dig in deeper to see how much was locked up by the team to determine how much is community locked up.

[unique bear]

Hi all, when claiming ILV rewards from the SLP pool, they get staked automatically in the ILV pool for 12 months. Does it mean that if I was to claim say once per month over the next 12 months, then in 12 months time I can claim for $$ only each component as they unlock month after month. I.e. They are staked as separate ILV claims and therefore can only be claimed for $$ after 12 months of each separate claim?

[glossy dirge]

Yes

[lament fox]

How much is the minimum ILV to be stake?

[glossy dirge]

No minimum

But you have to consider gas when you’re staking.

[unique bear]

@glossy dirge Thought so. Cheers

[brisk surge]

We still need to sign two tx if claiming from SLP right? Metamask is being real weird for me on mobile.

I didn't get a second tx for like 4 minutes after the first was sent. Real spooky doing it on mobile, don't recommend after Metamask changed its confirmation screen.

[wispy ferry]

Let's say gas fees for all transactions were $80. You stake $100 in the ILV pool. It will take about 1 year to reach your break even point at the token price when you stake assuming all other factors were the same. If token price goes up, less time. If token price goes down more time. Very basic example but there are many factors at play.

[eager lynx]

Hey! Yes, you can do that. No problem at all 🙂

[spiral flame]

Claim you rewards. Gas is so low

[clear pelican]

If i stake SUSHI/ETH LP can I choose to get ILV or sILV as rewards? or is it just SUSHI rewards?

[median adder]

You can claim either

[stuck jacinth]

i like the idea that you can collect your staking rewards as Silv that you can use in game, its like the game is free if your an investor its a win win!

[unreal urchin]

You can claim either ILV or sILV but not Sushi

[clear pelican]

so u put ur LP tokens on the illuvium CORE Pool? then get ILV or sILV?

[unreal urchin]

Yes

[gloomy gazelle]

Yeah. But not at the amount you originally added as liquidity it’ll be factoring in IL. So (stakedSLPvalue/2)/ILVprice=ILVtokens in your staked SLP. That’s ugly math but it makes sense to me.

[unreal urchin]

But only ILV/ETH LP tokens

[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

[gloomy gazelle]

Follow Mozart he knowdeway

[pure shadow]

wow look at that gass

[gloomy gazelle]

Yeah my transactions finally went through. I’m rich now. 😂 not really.

https://tenor.com/view/illuvium-ilv-illuviumio-yield-farming-staking-gif-22201712

[pure shadow]

thanks

everything ILV

[clear pelican]

but I like sushi hahaha. cant wait to put my illuvials on the Shoyu Museum. so glad they both use Unreal Engine 5

[pure shadow]

https://tenor.com/view/cat-booty-ass-shake-shaking-gif-5746219

[rotund sentinel]

Guys I tried to claim ilv from both pools 2 days ago, set gas relatively low but it shot up and the tx is still queued… any ideas on this? I paid about $250 in gas so don’t particularly want to cancel and try again 😅

[vital kayak]

I’m addicted to ILV 🔮 Just swapped! Great time with ETH and ILV low 🤑🔮

[vital kayak]

I think @exotic igloo said don’t worry about that, you’re doing 2 , it was in his video on Illuvium Academy

I can find the time link on the vid if you wish

[abstract comet]

if the transactions are still queued, you haven't paid anything yet. You can still cancel the transactions for like $3 each. Or set gas higher for those transactions (resend with same nonce) and it will go through faster. If you're using metamask, you can see these options under the Activity tab.

[wispy ferry]

Congrats on finally getting out of your loop!

[potent zealot]

What are the rewards for staking?

[gloomy gazelle]

more ILV tokens.

!yf

[woven ibex]

You can yield farm ILV in 2 main pools.

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

[gloomy gazelle]

!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

[worn bridge]

hey guys a quick question

to unstake i have to pay ETH fees twice? first to withdraw the rewards and secondly the tokens?

[vital kayak]

Omg! You’re not kidding! Thanks to @hexed bough 💗💗💗

[gloomy gazelle]

Creez is the man

[gloomy gazelle]

Yeah but it’s actually claim/vest the rewards (they don’t go to your wallet they get staked, locked for 12 months) and then withdraw the initial deposit.

Just click withdraw though and it’ll walk you through it. Don’t claim rewards separately before starting the withdrawal process. It’ll make you claim again if you do it that way. That’ll be needless gas spending.

[worn bridge]

Hmm i see thanks mate

[white aspen]

Good morning all - once you have claimed your rewards I understand the interest on those locked rewards keeps accruing with a weight of x2. However I cannot see the compounding effects on those locked rewards on the vesting tab. Any clue why ?

[gloomy gazelle]

All rewards being earned are pooled together. so your total value staked is higher than it was.

[short turret]

In a project such as this how quickly will the APYs start to draw down over the next say 3 years? Like is it reasonable to assume it’ll progressively decrease over the 3 year period, or more likely that it drops to a ‘low’ yield soon and stays there

[manic spindle]

Yield is decreasing by 3% fortnightly for sure, the rest depends on what people stake. ILV pool will most likely go down further without a doubt though since all claimed ILV rewards are staked in there too.

[gloomy gazelle]

This is only a graph of the distributions. The APY is not actually determined just by this. But also by how much is in the pool. But basically the answer is the apy in the ILV only pool will keep dropping significantly.

[short turret]

You guys mentioned earlier that the ILV/ETH pool is better for those with more tokens. At current prices, would something like 5 - 10 $ILV cut it for having to pay twice as many gas fees or would you be better off putting it all into the ILV only pool

[gloomy gazelle]

Yeah probably

[short turret]

How many weeks are left of staking rewards? Its set to be paid out over 3 years yeah?

[misty vapor]

Hi guys, what are the assumptions behind the APY calculations? Or are these really APRs?

[cunning perch]

started from July 1st 2021 and will end in 3 years. Rev will be there as long as the game is operational....like forever lol

[wary cloak]

Hi all, if I connect my metamask and stake my ILV and leave my metamask connected, how secure is it? Is it risky to leave connected? And must I leave connected when I'm staking or am I ok to disconnect?

[severe bay]

Hello. In staking, SILV is different from ILV is that correct? So I am earning those 2 at the same time?

[carmine drum]

No, you have to choose which one to claim.

[severe bay]

But again, staking cause impermanent loss right?

[fossil pewter]

Hello, if i do a locked staking on ilv or SLP, do i lock in the APY at that time or does the APY fluctuation affect my locked stake?

[carmine drum]

If you consider SLP staking, then answer is yes.

[fossil pewter]

yes to which question? Do I lock the APY or does it fluctuate over my locked stake?

[abstract comet]

you're free to disconnect when you're staking. In terms of security, it might be a good idea to lock whenever you aren't using metamask. Really, you should get a hardware wallet though.

[spring merlin]

He was answering the question about impermanent loss. APY is variable for all staking. Rewards are set to diminish every 2 weeks.

[severe bay]

what do we mean SLP staking?

[spring merlin]

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

[spring merlin]

SLP is obtained through providing liquidity. You stake the SLP tokens but really what you're doing is providing liquidity. The tokens just represent that liquidity.

Liquidity Providing can cause Impermanent Loss. That's why the simpler, less risky option is to stake in the ILV pool.

[wary cloak]

Perfect cheers

[severe bay]

I see. SLP is Sushi Liquidity Pool.

So if we stake ILV directly in illuvium, we will not experience any loss. Just farming ILV and SILV. Is that correct?

[cunning perch]

Yes

[rugged pier]

Hi. The term impermanent loss is difficult to understand 🙂

[manic spindle]

https://academy.binance.com/en/articles/impermanent-loss-explained 🙂

[plucky coyote]

I assume there are experts here. What's the apy formula? How is it calculated?

[rugged pier]

thank you

[cunning perch]

Example: You add ETH + ILV. ILV pumps hard and disturbes the balance. The pool sells your ILV and buys more ETH to keep the balance. This is the simplest explanation. So you would end up with more ETH than ILV. It can happen the either way too

[warm plover]

what is the minimum amount for staking?

[manic spindle]

There is no minimum. You can stake any amount of ILV you own 🙂

But if your bags are too small, then it might not be worth it due to GAS fees.

[warm plover]

so i can stake 0.5 ilv?

[fair wharf]

I tried to stake SLP just now and the “confirm” button is light blue and unclickable. This was after I claimed ILV reward so I basically lost my gas fee for claiming. Any advice for how to fix this??

[manic spindle]

You could, yes 🙂

[severe bay]

When it is locked for 1 year, I will not be able to claim SILV as well right?

[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.

[manic spindle]

You can claim sILV or ILV regardless of locking your deposit or not 🙂

[severe bay]

I see. only the original ILV that I have staked will be locked

[severe bay]

When staking, I am getting error in my gas. How should I modify it?