🥩〕staking

[severe bay]

ouch the gas fee is $20

[tacit mesa]

hello.. with regards to RevDis and Voting, does anybody know how ILV in the SLP token is calculated?

as i know its "x * y = k"
but couldnt get to understand (i tried calculating) how it really changes over time with impermanent loss and predict how much ILV will be left with me..

would be happy to see a sample calculation from others here..

[gritty charm]

So claiming ilv will be restake back based on your lock period? Example if I lock for 6months. The ilv rewards I claim will be auto stake for 6months as well?

[stark rampart]

all rewards are under 1year lock.

[spiral flame]

except for sILV

[stark rampart]

right, but he was asking about ILV.

[stark rampart]

vesting of your farmed ILV rewards looks like this once u claimed

[gritty charm]

Thanks for the update!

[white aspen]

Guys, when do you start claiming your rewards ? Personally from 15 earned ILV. Just want to know what the practice is amongst the community.

[severe bay]

Dude how many did you stake to achieve that? That's huge!

[slender ocean]

practice is claim when the claimed amount will make the staked ILV pool a nice number... like 10, 20, 30, 50, 69, 100

[elder dawn]

To me, the math on when to claim is the potential rewards from compounding in the ILV pool relative to gas fees. To each their own, but the ILV APY will keep decreasing naturally, so there's more value today to claim than in a month.

[left wharf]

I claim this month ILV stakes, after I clail sILV in order to buy land afterwards.

[austere cliff]

Gas seems pretty low now, relative to what is has been the past 2 weeks.

Seems like a good time to stake or claim rewards, sadly I did my claims and staking yesterday when it was nearly double what it is now

[stark rampart]

not so much compared to luggis.eth, im typical shrimp in value staked.

[queen garden]

hey lads. will revdis depend on staking period? so will i get more revdis for 12 month locking period than for flexible staking? locked all for 12 month, hence asking for the time after unlocking my ILVs/SPLs

[manic spindle]

RevDis does take Token Weight into account, yes.

[queen garden]

🙏

[tired blade]

Looking to stake in the ILV pool. Is it better to stake it in flexible or lock it up for a couple of months?

[cunning perch]

That's totally a personal decision as you know yourself better than anyone and know what your plans are

[neat crag]

How to buy ilv and how to stake?
Also, is there a minimum amount for staking?

[cunning perch]

!buy

[woven ibex]

We recommend buying ILV on the main DEX here: https://app.sushi.com/swap?inputCurrency=ETH&outputCurrency=0x767fe9edc9e0df98e07454847909b5e959d7ca0e
After acquiring your ILV, make sure to add the ILV token to your wallet. You can find the contract address at https://www.coingecko.com/en/coins/illuvium and in the case of MetaMask, you can just click on the Fox next to the contract address to add the token.

In case you don’t want to use SushiSwap, ILV can also be found on the following CEX's:

• Gate.io (non US residents) https://www.gate.io/trade/ILV_USDT
• Bitcoin.com

Here is a video that goes into detail how to buy ILV and stake it afterwards: https://www.youtube.com/watch?v=C6YugU4zZr4

[cunning perch]

no minimum. you can find good vids in the pinned messages for staking that can help you

[broken aspen]

Does claiming your rewards just reset the rewards counter and Vest the ILV claimed amount? Like if I claim ILV in 6months that total would be vested then 2 months later I could claim sILV for use in game once released?

[cunning perch]

each claim you make will have its own one year vesting period and will be released after the vesting is done 🙂 sILV is released immediately regardless of the token lock

[broken aspen]

Cheers

[storm elm]

how does flexible and locked option work when staking

[plain flame]

Ah i just realised it costs $40 in gas fees to take out any staking rewards???

[rough spade]

According to Coin Gecko it states the circulating supply to be 634,776. Total released is 7 million but 6,365,175 is in the ILV treasury. If you subtract the number you came up with that means only 42,630 ILV are currently available on exchanges?! 🤯

[manic spindle]

Flexible = You have a token weight of 1.0 and can withdraw at any time
Locked = You have a token weight of up to 2.0 and your tokens are locked (=not withdrawable) until the locking period is over

[rough spade]

If that's correct thats awesome news!

[storm elm]

whats the use of token weight

[neat crag]

Thanks

[manic spindle]

A higher token weight than 1.0 means your staked tokens count as more during the calculation for Yield Farm Rewards and RevDis 🙂

!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

[storm elm]

so more token weight = more yield = more rewards?

[manic spindle]

Correct but you need to lock your tokens for that.

[gaunt fox]

hey guys, should i stake in ILV or ILV+ETH? i would like to lock my stake until winter 2021

what's your guys opinions?

[cunning perch]

pretty personal. you know your plans and you know your risk tolerance. Make sure you know the concept of IL if you plan to go for LP

[wind walrus]

Only you can decide that. Depends on your tolerance and liquidity needs

[plain flame]

will i be able to claim sILV from staking to use in-game without paying gas feez?

[cunning perch]

Every form of transaction requires gas. you don't pay gas ONLY in game, not outside

!buy

[woven ibex]

We recommend buying ILV on the main DEX here: https://app.sushi.com/swap?inputCurrency=ETH&outputCurrency=0x767fe9edc9e0df98e07454847909b5e959d7ca0e
After acquiring your ILV, make sure to add the ILV token to your wallet. You can find the contract address at https://www.coingecko.com/en/coins/illuvium and in the case of MetaMask, you can just click on the Fox next to the contract address to add the token.

In case you don’t want to use SushiSwap, ILV can also be found on the following CEX's:

• Gate.io (non US residents) https://www.gate.io/trade/ILV_USDT
• Bitcoin.com

Here is a video that goes into detail how to buy ILV and stake it afterwards: https://www.youtube.com/watch?v=C6YugU4zZr4

[wind walrus]

When claiming rewards from SLP, can I add ETH and add to the LP pool instead of ILV pool?

[plain flame]

Just realised the errors of my ways, locked up $1k worth of ILV/ETH LP for a year, I'll need new ILV to play the game when its released

[final steppe]

No, any ILV claims will go straight to the ILV only pool.

[cunning perch]

you do not need ILV at all. you need ETH and/or sILV. the latter you can claim as your YF rewards

[wind walrus]

You could choose sILV rewards instead of ILV if you want in game currency or play with ETH

[storm elm]

what is YF rewards

[manic spindle]

Yield Farming rewards from staking. You might wanna check out these resources:

!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

[storm elm]

so if i plan to lock rewards when do you think is the best locking duration so that we could play the game as soon as it gets released

[manic spindle]

You don't need any ILV to play, so locking your stake has little to do with playing the game 🙂

[cunning perch]

You don't need ILV to play the game. If you wish to spend $, you can use ETH and or sILV (which is claimed through staking as rewards). Locking period is totally your decision.

[manic spindle]

!ILV

[woven ibex]

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

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

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

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

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

[storm elm]

hehe sorry for being annoying thank you so much!

[remote forge]

It's not annoying, people have questions about the game and token, and the wonderful people here are ready to help 😁

[wooden moon]

when the lock period expires, if we keep stake, do we also keep the locking weight?

[cunning perch]

yes. YOu also get Rev for that. If you unstake (withdraw) you revoke the right to receive Rev for it and will lose the weight

[wooden moon]

tnx, what's Rev?

[manic spindle]

!revdis

[woven ibex]

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

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

[wooden moon]

ah ok 😄 and what happens if we stake more token? we have to lock it for 12 months to keep the weight?

[cunning perch]

you can decide how long you wanna lock them. you can stake as many ILV as you want.

[wooden moon]

I mean, if we stake more tokens and don't lock them, will the previous one lose their weight?

[cunning perch]

on. each batch has it's own weight. unless you lock them with the same period to get the same weight. you can even stake in the flexible pool and they will be unlocked anyway with a lower weight

[wooden moon]

cool! so each stake event is counted separated and don't interfere with each other

[cunning perch]

they all compound. but you can for example lock some for one year, some for 6 months or some even in the flexible pool for no locking period at all. their weights are different

[muted timber]

are claiming rewards and vesting 2 separate transactions? or once you claim in ILV it's automatically vested?

[manic spindle]

It's done in the same transaction 🙂

[muted timber]

phew

[wooden moon]

on current UI there's only 1 option to claim sILV reward, which is on ETH network... once the game is live will we have option to claim sILV directly on IMX?

[cunning perch]

you can claim ILV and/or sILV even now. IMX is still building to my knowledge. we'll have to wait and read about that when it's concrete

[manic spindle]

I don't think any "Layer 2 Staking" will be available. Pretty sure staking will remain completely independent from IMX, which means you claim sILV and then send it to your IMX wallet to use it in game. But more info will surely come in time 🙂

[wooden moon]

yeah I see it's not live yet, I hope that in time we can claim directly to it, instead of doing 2 ETH transactions to claiming to ETH then moving to IMX

will we be able to move NFT from IMX to ETH? IMX docs say it's not possible now and will be in the future

[glossy dirge]

So i stake in both ilv and sushi pool. I am still uncertain as to which pool is better with 1 year lock.

I want to add in the pool but still torn where to dump my tokens

[muted timber]

@cunning perch @manic spindle will rewards become less and less over the next 2-3 years?

[cunning perch]

the ILV pool, yeah. It will keep on dropping 3% every fortnight. also many more people joining will drop the APY as well. The rewards will also get vested there which drops it even more.

[queen flint]

Me too

[muted timber]

what about the SLP pool?

[cunning perch]

it has it's own incentive as it also has to follow the value of ILV and ETH at the same time.

[muted timber]

is there a situation where the SLP rewards won't go down at any rate as well?

[cunning perch]

any change can lead to APY change really. For now it's pretty high. Will it stay like this forever? no idea.

[echo rain]

What's the difference between ilv and sushi LP , the latter had a HUGE apy

[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

[cunning perch]

This is ETH/ILV 👆 and why the APY is huge

[cunning perch]

and this is the ILV pool: #🥩〕staking message

[echo rain]

So I need 1 Eth and 1 ILV or is it 50/50 ratio based on price?

[cunning perch]

based on $ value. like $10 ILV + $10 ETH also you pay more gas for it

[echo rain]

Ahh ok. So which one do you recommend if I had $1k to invest?

[cunning perch]

please read this one and make sure you understand it before making any decision as no one can tell you which is better for you: https://academy.binance.com/en/articles/impermanent-loss-explained 🙂

[glossy dirge]

the 600% apy is juicy though.

[wooden moon]

liquidity pool pair value loss is a tough issue, I decided to invest solely on ILV

[cunning perch]

welcome aboard.

[glossy dirge]

Will the revdis be in ilv token?

[cunning perch]

yes.

[glossy dirge]

ahhh. so if you want to cash it, you then have to sell it. hmm

[cunning perch]

sell it, stake it, you can do whatever you wish with it 🙂

[echo rain]

Thanks for sharing. Not gonna take that risk. Might just do the normal staking for 80%

Should I do the 12 month lockup or the one for in-game coins? Can I use in game coins to buy NFTs?

[wooden moon]

was it said how the ILV will be distributed on market during the 3 years period?

[cunning perch]

you can lock however long you wish in the core pool. For now, if you wish to buy NFTs you can use ETH in OpenSea.

[wooden moon]

tnx, is it the smartcontract that will do it automatically?

will it add the token directly on pools? where will the ETH earned go?

[solar cedar]

That graph is only showing ILV inflationary rewards. The yellow is the ETH/ILV sushi LP ILV rewards schedule. The only eth earned is from the LP fees earned from sushi trades. Smart contract calculates it all continuously . You need to claim though.

[echo rain]

Ok I staked 1 ILV, dang those gas fees were high

[wooden moon]

but how will it work? will sc gradually deposit its ILV on the pools as reward until all ILV is on market?

[echo rain]

Do I get both ILV and sILV rewards or I have to pick one?

[manic spindle]

You have to choose every time you claim 🙂

[echo rain]

Ah ok, so I guess when the game comes out I'll have to decide what's more benificial

[gloomy gazelle]

!staking have you guys watched the video here?

[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

[ripe abyss]

Hey! Are there any details about the apy? Staking in pools is a new concept for me. Thanks for the help!

[final steppe]

!read Check out these Medium articles... specifically the 3rd one will go over the factors contributing to the APY

[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

[final steppe]

If you're asking about the details of the current APY and what it is for our pools, you can view that on the staking website after you click on the button for either "Core Pools" or "Flash Pools" 🙂

[glad path]

Does anybody have a table or computation on how much reward you're gonna get from staking a specific number of ilv in parallel to lock in period based on current market prices?

[quick bridge]

you can get a snapshot of what it will approximately be for one week by using this: (staked amount in usd * apy %) / 52. Just note that rewards (apy) slowly decline over time so you can't extrapolate to a larger time series

[glad path]

Thank you. I'll try this.

[quick bridge]

for example, if you had 10 ILV it would be: 4300 (10 x $430, current price) * .85 (one year lock in single-side stake) / 52 = ~$70 USD per week (but only for this week, as apy will change)

[iron vector]

is there a place to buy xyz with fiat so that the ridiculous gas fee doesnt apply?

[warm flare]

The staking system is a defi protocol? Just wondering if the code is viewable anywhere.

And can someone explain how the apy is calculated? For either staking pool.

[lament helm]

anyway to see how much of the circulation of ilv is staked?

[warm flare]

I believe you can see it from the website then the staking tab to see what is staked

[next ruin]

https://etherscan.io/token/0x767fe9edc9e0df98e07454847909b5e959d7ca0e#balances

No 2 and 3 "holders" are the pools.

[brisk surge]

To get the sushi lp tokens i just have to add my ilv 50 percent and 50 percent to the liquidity pool? And i’ll get the sushi lp right away?

[next ruin]

Adding liquidity gives you SLP tokens as soon as the transaction goes through, yes.

[brisk surge]

Allright, i’m all-in Ilv right now. So i need to sell 50 percent for eth right. Then add both to the pool

[next ruin]

You will be adding equal value of Eth and Ilv to the pool. Make sure to hold additional Eth for gas fees for the transaction to add liquidity as well as to stake (if you plan on that).

[brisk surge]

Yes, thank you for helping me understand!

[mental forge]

geez why gas so high to stake

[brisk surge]

How much?

[mental forge]

says 70$

[next ruin]

Gas is a bit high right now. Probably want to wait for a lighter load time. https://www.gasnow.org/

[mental forge]

yep afternoon in the US

typical

[brisk surge]

Well i’m in boys, one more question. If i just let the rewards stay the whole year. And then i’ll take my rewards. Do i have to wait another year before i can sell them? Vesting period

[next ruin]

Rewards are vesting for 12 months from claim, so yeah - if you claimed 12 months from now, those rewards would be unlocking 24 months from now.

[gaunt marlin]

The other option is to accept sILV which becomes available immediately but is only used in game.

[manic spindle]

Or for some pre-sales like land for the mini-game 🙂

[steady trellis]

Hi, is there any information and the stacking impact on the APY% ? Current APY goes down much faster than the 3% every 2 weeks, I wonder what the curve look like when impacting the staking level to it 🤔

[lilac coyote]

The 3% decline is number of tokens per 14 day period. The APY changes based on price of token and TVL,

[sinful pond]

When i started staking, it was around 600% (for ILV-ETH pool), then it went up to 750% for a while, and dropped again. there's a lot of variables

[mental forge]

hows the impermanent loss been?

[drowsy wigeon]

not too bad considering ILV been trading sideways

[winged tide]

Is there a place that explains the variables to calculate the APY? I'm afraid to stack in the pool, locking for 12 months, and the APY to reduce drastically in a few months. That will be a real bummer.

[cyan kelp]

well it all depends on how many people join and stake..

[cyan rampart]

Lots of factors. 80% of ILV rewards go to the SLP. Within the SLP, you get a share based on your % of the pool. As the pool increases, your % ownership of it decreases. Additionally, I believe the total rewards decrease by 3% per fortnight or something like that.

[misty mural]

Planning to stake ILV and lock it but not sure how many weeks. any suggestion? do you guys know when will be the presale of NFTs for Illuvium?

[tall folio]

So whats the best way to stake to gain profit for yourself and not benefit you in game

[cyan rampart]

There will be no presale of NFTs that involve player power (i.e. Gear/Illuvials). The NFTs that currently exist are cosmetic (badge/emotes/skins for Mozart)

Lock period is totally up to you - higher APY for long stake, less APY for short stake, but more flexibility to sell etc. with a short stake.

[cyan rampart]

You can claim staking rewards as sILV or as ILV. ILV is just ILV, and theoretically will appreciate over time. sILV is for in-game purchases.

So you'd stake normally, and claim your rewards as ILV if you were looking to profit off increases in ILV price.

[tall folio]

Also because I’m new to this stuff, can I sell it all at once or do I have to wait

[ruby wing]

Please dont ask the same question in multiple channels 🙂

[cyan rampart]

Reward take 12 months to vest (i.e. they sit there after you claim them, for 12 months).

If you lock your ILV into a stake, you can't access it until the lock period expires. Once the locked period is over, you can do whatever you want with your ILV.

You can sell all your ILV at once, or whenever/however you want, if it's not locked into a stake.

[tall folio]

Okay great! And have I understood correctly that locking it away for 12 months guarantees a x2 increase in ILV?

[cyan rampart]

That's not quite right. The APY listed is the current APY, and will decrease over time (generally). APY is Annual Percentage Yield - This means that if you staked 1 ILV for 12 months(annual), and APY was 70% and didn't change, you'd get .7 ILV in rewards.

Token weight is reflected in the APY shown. Basically what token weight means is that your token holds double weight in the pool. Compared to someone staking with no lock period, you'd get double rewards.

But again, token weight IS factored into the APY you're shown on the Illuvium website.

[tall folio]

Ohhhhh makes so much more sense! Thank you man!

[mental tangle]

I have a dumb question.....
Once the "lock" period for staking/vesting is done

If I have say 100 token staked and now unlocked.
Am I able to unstake and claim to my wallet any amount? So like 20/100
Or if I unstake will it pull out all unlocked tokens?

[final steppe]

Not a dumb question at all!
I haven't withdrawn any tokens yet but I'm going to guess that it's all or nothing when it comes to that

[mental tangle]

Yeah I've never unstaked anything before 😅

Ideally I'll never have to unstake anything and if I have to I can use a bit of RevDis to pay taxes...
Shit got real real fast lol
Now I have to be worried about taxes ffs

[river light]

Should the core pools be 80/20 since we have no flash pool active? Right now there is still 2% missing.

[tall folio]

So if I invest £1000 into ILV and lock it for 12 months, what benefits do I get from accessing my investment if I was to invest flexibly and have no increase in APy

[cyan rampart]

Staking flexibly, you could sell ILV when you think it's high at any point. Basically any benefit that you could derive from not having it locked.

[stray kestrel]

hey guys any idea of how to stake ILV without paying huge gas fees ?

[cyan rampart]

Wait till gas fees are low. There's no way to bypass the ETH blockchain and how it works - watch gas fees, and stake when they are low.

[next ruin]

Waiting for times when gas is low is the only real way to reduce it. https://www.gasnow.org/

[near escarp]

can i stake ilv and then convert everything to silv when game is released?

[mint cave]

you can convert all your rewards, yes

[next ruin]

You can only claim sILV as a reward, there won't be any conversion of ILV to sILV.

[wheat venture]

It could go real high and then drop without you being able to sell but. Then again it could go up even higher by the time your stuff unlocks so

[near escarp]

so meaning if for example i stake ilv 1k$ i cant convert them directly to silv as i would only recieve the SILV rewards and my ilv is still locked correct?

[mint cave]

yes

[near escarp]

cool id rather save money now and spend as much silv when i can so i can play properly

[stray kestrel]

thanks, I'll try later 🙂

[tall folio]

I understand, but surely it’s smart to lock it for at least 6 months as after game release, we will able to see the true value of ILV fluctuate and become more expensive therefore increase my investment.

Don’t you think the same?

[stray kestrel]

I don't get it why eip 1559 was "nice to fix gas fees" I see it the same or even worse 🙄

(looking for a cultural advice and reason )

[mint cave]

eip1559 doesnt fix gas fees, it only levels out the fluctuations

at no point was it ever going to lower them

[cyan rampart]

I have my ILV staked for a year. Some people have only staked until like, February or March, so they can assess before seed/team tokens start unlocking. Other people haven't locked at all.

It's totally up to you, if you plan to just fire and forget, staking your ILV makes really good sense. If you wanna try and actively trade and sell ILV high, staking makes very little sense.

[stray kestrel]

Thanks for the clarification, just what I was looking for. Thanks Jeff.

[wild igloo]

Should I stake? 😅

[mint cave]

up to you!

[tall folio]

At the end of the 12 months I can still sell my ILV at a much higher value then what I originally started at right? Flexible staking is only for people that want to quickly make a couple bucks and buy and sell a lot

[cyan rampart]

No one can predict the price of ILV in the future - if the price goes up, you can sell your ILV at a higher price. If it goes down, you cannot.

There's lots of reasons you might wanna stake flexibly.

[tall folio]

Ohhhhhhhhhhh literally aligned it all in my mind after that message. Thank you so much mr man!!

[rapid flax]

Hey peeps how’s it going today

it seems you just have to have some ILV in your wallet as well as ETH to mix on Sushiswap to get SLP?? Let’s say you have half a token of SLV and put that full half token up ($220 ish) then they match that $220 with ETh from your wallet and it creates your SLP token? or however much earned and then you can stake. Would like to get into liquidity pool

Maybe I understood wrong from video

[mint cave]

!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

[rapid flax]

Ty. That helps

[wild igloo]

Sorry for the question 😅. I am just really new with all of the crypto, staking, p2e and everything but I'm really interested. Since yesterday I was trying to learn more about illuvium and I got to this staking part where I really got lost. Anyone who has spare time who can maybe enlighten me with a simplier explanation? Will greatly appreciate it. Thank u in advance. 😅

[rapid flax]

https://youtube.com/watch?v=C6YugU4zZr4&feature=share

[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

[mint cave]

and read all pinned messages in this channel

[rapid flax]

When attempting to addSLV token to meta what is token of precision ??

[mint cave]

!contract

[woven ibex]

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

[mint cave]

18

it should auto-fill anyways if you enter the contract address

[short turret]

Assuming the tokenomics of the game went live in the Spring of this year, Spring 2024 will be when the liquidity pool/staking rewards will end?

[mint cave]

staking began june 30th, so summer 2024

[short turret]

Awesome, thanks.

[wild igloo]

Will do sir. Thank u ❤️

[short turret]

There seems to be so much information out there, and different staking strategies depending on the amount willing/able to stake. Trying to build some models to estimate and visualize the potential gains investors have to earn. Anybody done work with that yet? (Something more comprehensive than the staking distributions chart above)

[hazy token]

I'd love to see a historical APY% chart for both forms of staking

[short turret]

Historical and/or future seeing. Being able to say ‘buy x amount of $ILV rn, stake it this way (which we estimate these will be your monthly/annual returns), factor in the potential there is for growth in the $ILV token price considering our market cap vs something like Axie’s market cap, etc etc. Which says then says a year from now you’ll have x amount of $ILV, which based on revenue growth predictions, will be $ of money. Which then could be repeated through summer 2024, therefore giving someone looking at Illuvium as an investment instead of a game, a long-term 3 year expected ROI.

[hazy token]

nice. a simulator of sorts, with adjustable parameters

[umbral lava]

I have a question about claiming rewards. I'm staking in the Sushi LP pool and it mentions that the ILV rewards are subject to a 12 months vesting period, however the Claim button is unlocked. Does that mean the 12-month period starts once I press it or it will not actually give me anything after 12 months have passed?

[mint cave]

when you claim your rewards, they go into the single-ILV pool with a 1 year lock

while they unlock, they generate compounding rewards for you

https://gfycat.com/dearjitterycopperhead

[umbral lava]

Ohh, that sounds awesome! Lovely, thank you!

[rapid flax]

So in order to acquire SLP you must already have ILV and ETH in current wallet?

[mint cave]

yes

[brisk surge]

so if i wanted to access my rewards one year from now i would have to claim them today? is that right?

[cyan rampart]

That's correct!

[umbral lava]

About sILV rewards, since it mentions they are used for in-game stuff, will they basically be game's main virtual currency?

[brisk surge]

thanks

[cyan rampart]

If we're talking ILV rewards. sILV rewards are not subject to vesting.

[mint cave]

ETH is the main currency, as it will be used for in-game fees AND the marketplace

[mint cave]

you can use sILV for the in-game fees, though

all fees are denominated in USD

[short turret]

I assume there are ones already out there that people have created/used to justify their large investments. Just didn’t know if there has been one posted previously in the chat somewhere. Will be a fun project for sure

[rapid flax]

When you claim rewards and while waiting to unlock, will they show in your meta wallet or be re-staked or just show in locked ILV pool?

[mint cave]

they will show as locked in the ILV only pool

[rapid flax]

Ok and after a year go into meta wallet or re staked?

And after said year do they automatically release or have to be moved manually back to meta wallet

[mint cave]

i believe they must be moved into your wallet

[rapid flax]

Learning so much so quick.

[brisk surge]

so if i claim ilv rewards today is that releasing only the rewards i have got so far, or will that unlock all the rewards i get over the next year? (apologies cant find this anywhere)

[mint cave]

it only begins the unlock for the rewards you have accrued at the time of the claim

[brisk surge]

oh damn ok thanks..long term thinking got it

[obtuse tusk]

All this talk about staking, ILV, Sushi, contracts, etc etc...people will still be able to simply "play" the game too, right? I mean, even if people want to play it as a p2e game and eventually get some $$$ out of it, they'll still be able to do so without having to dive too much into this whole other side of the equation, right? 😬

[mint cave]

!ilv

[woven ibex]

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

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

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

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

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

[mint cave]

if you aren't interested in any of that, you can still just play the game 🙂

[obtuse tusk]

Oh, thank you very much kind sir.
I do plan to get myself involved in both sides of the game. I think I was just a bit "👀 " seeing/reading so much content about the cryptosushi side of things.

[mint cave]

lol, it is a lot to take in

[marble canopy]

Hi. Apologies for asking a stupid question, but I'm not only a crypto noob but this is my first ever Discord account/interaction So I bought little ILV a few days back and staked in both ILV and LP pools for a MAX period of 12 months. Today I bought little more and tried to stake but I got a pop-up saying I need to withdraw my current rewards first to stake more. But then, aren't rewards vested for 12 months for auto compounding? I'm terribly confused. Would appreciate any help. Thanks very much 🙂

[exotic igloo]

You need to claim your pending rewards, not withdraw them

It is not autocompounding

[wind talon]

someone can explain more about the stacking please? i really dont get it

[exotic igloo]

Until you claim your rewards, nothing happens with them

[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

[mint cave]

read all pins in this channel as well

[exotic igloo]

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

[marble canopy]

Ah okay. So you mean I need to claim them periodically and restake them if I want them to compund. And these claimed rewards show in my dashboard and not in my metamask since they are claimed to restake but not withdrawn?

[marble canopy]

How awesome is this. Thanks, brother. Appreciate it.

[cyan rampart]

They automatically restake (vest) for 12 months when you claim them. Vesting rewards show up in your dashboard.

[marble canopy]

Okay. So you mean I need to periodically claim the rewards for them to be auto restaked? And If I don't they do not get restaked for compounding. Of course, I need to see the rewards amount and check gas accordingly.

[cyan rampart]

Yes, rewards only start vesting and compounding after you claim them.

[marble canopy]

Ohhh! Okay. Got it. It was simple. Thanks very much. Appreciate it.

[exotic igloo]

Yea you got it!

[marble canopy]

Thank y'all for helping. Much appreciated.

[glad path]

Hi, this only applies to the reward right? We'll still get back the initial ILV that we staked, am i correct?

[mint cave]

the initial ILV you stake is locked for as long or short as you wish

0-52 weeks

[glad path]

Thanks!

[mental forge]

so the ILV that i earn through staking is unavailable for a year?

[mint cave]

yes, each time you claim the reward it starts a one year lock on whatever amount has accrued at that moment in time

[mental forge]

ILV a longgggg hodl

[lean walrus]

But if I earn SILV then I can use it in game instead of it being locked up

[mint cave]

yes, you can choose sILV as your reward and receive it immediately

[lean walrus]

And I can earn silv by staking ILV only as well

[mint cave]

correct

[lean walrus]

Beautiful waiting for ILV entry point and jumping in to stake, thank you.

[brisk surge]

Hello guys. Can someone tell me what the mystery auction is?

[mint cave]

that's just it, it's a mystery

[brisk surge]

and how can i participate? do I need ETH for it?

[glad path]

I wish these prices will hold until payday 😅

[mint cave]

most likely, yes

[cyan rampart]

I wanna know too, what is this mystery auction and why is it so damn mysterious...

[lean walrus]

…land?

[brisk surge]

hey people

i want to stake but dont know what the best option is

[cyan rampart]

Assuming you're talking about the land sale, there's more information on it if you check the pins in #🎮〕illuvium-zero . The land sale will be in about 10 weeks AFAIK.

[brisk surge]

thx bro, what is the benefit of having land?

[cyan rampart]

What are your questions? SLP vs. ILV. SLP is the liquidity pool, it has a much higher APY, but also has a risk of IL.

Core ILV pool has no risk of IL, but lower APY.

[cyan rampart]

Check the pins in #🎮〕illuvium-zero . There's a GDD posted there that outlines the uses of land.

[brisk surge]

ah thank you

....why didnt i get ILV when it was 80 usd

[junior shuttle]

We are all asking ourselves similar questions like that lol

[lean walrus]

Say I were to switch 1k ETH into ILV right now, how much gas fees would it cost given current gas fees?

Gas fees to purchase ILV, then another gas fee to stake into the ILV pool?

[junior shuttle]

yes

also i think there is a small fee for first time interaction with the contract as well. But that is a lot smaller then usual gas fees.

[inner estuary]

Does anyone have an opinion on how the APY will change over time? What impacts this?

[random carbon]

how many weeks is the best lock period for ILV?

[wispy sandal]

I do 52 weeks cause I know I don’t sell shit

[junior shuttle]

As long as you can afford too lol.

[loud barn]

Whats sushi lp

[honest wraith]

The APY on the ILV pool will go down based on the amount staked within it ( eg, the more ILV staked the less APY) and the SLP pool will go down 3% every 2 weeks by design and is also affected by other factors ( but I’m not 100% sure what they all are)

[honest wraith]

Sushi Lp is the sushi liquidity pool and uses the SLP token that is gained from providing equal parts of ETH and ILV on the sushi swap site. It is pinned in #staking

[loud barn]

So what’s better or preferable between ilv and slp

[honest wraith]

It depends on the amount you have and whether or not you are concerned with IL ( impermanent loss) if you have a lot of capitol I would suggest SLP pool@because of the huge APY ( not financial advice) but if you have <1 ILV I wouldn’t stake it because of gas prices eating into your gains

[inner estuary]

Thanks for clarifying. Does the SLP APY also go down with the amount staked within it?

[misty vapor]

In a year+, will I have to claim each individual vested amount separately? And hence should not claim to often and create all these little piles that will cost more gas later to claim?

[willow kindle]

your individual amounts will unlock at different dates but you don't need to claim then the moment it unlocks

[spring merlin]

A general caviat is if you think ILV is going to drastically outperform ETH, you would be missing out on significant gains by staking SLP.

[honest wraith]

That I can’t speak to, but every 2 weeks it goes down by 3% because that’s what it was built to do

[inner estuary]

Am I wrong in thinking that it would be very unlikely for the slippage to be higher than the APY return?

Sorry, not slippage, impermanent loss

[spring merlin]

Depends on the scenario, the IL calculator in pinned messages could probably find a scenario where ILV moons enough or ETH craters to the point where just hodling ILV would've been better.

Generally I'd agree it's unlikely though

[unique bear]

@spring merlin but if ILV moons enough, your 700% API of rewards which are paid in ILV and staked regularly enough would mean that your Initial investment left in the SLP pool would be peanuts in that scenario right?

By comrarison to the gains in ILV from rewards

[wind walrus]

That is my thinking as well.

[spring merlin]

Over the long-term most likely the ILV rewards outweigh the IL of the initial investment. But there is a possibility of getting some bad short-term IL before the rewards really accumulate.

[unique bear]

But the IL is only actually permanent when you take it out of staking. So it could correct itself over time. How does it affect the rewards in the short term if ILV moons early?

[brisk surge]

IL means the difference in holding the token compared to having SLP (ILV/ETH) so let's say ILV goes up more than your ILV/ETH that means you would have been better of with just holding the token. But in the case of this staking the 80% distributed rewards really takes IL out of the equation.

[chilly roost]

whats IL vs SLP? slp = sushi liquiity pool?

[unique bear]

Totally agree you'd be better off holding ILV. But you're still doing awesome because of the rewards being paid out if you are in the SLP. And that doomsday scenario of ILV mooning just means you do really awesome instead of ridiculously awesome

[brisk surge]

SLP is the sushi liquidity pool it's the ratio of ILV/ETH whereas IL is the loss you experience cause of this ratio explained in the post above.

[spring merlin]

I think this discussion has happened many times on this discord. Most people agree some sort of ratio between the two pools is ideal assuming the extra gas costs aren't a significant amount of your investment.

I've seen 70/30 ILV to SLP considered a balanced ratio. Good exposure to ILV mooning and good LP rewards.

[unique bear]

@spring merlin absolutely. The more you can diversify the better, like any investment. Interesting take on the 70/30 split. I hadn't seen that. I wonder if anyone has run a heap of scenarios. Needs a probability analysis, but without the inputs it just becomes gambling. Who knows what will happen. Haha

[cloud quiver]

Any ideas how to make the best of 50% of my ILV being staked in ILV for 6 months? I regret not putting it in SLP. Other 50% is going into SLP. I assume only other thing I can really do is buy more ILV and stake that same amount in SLP?

[chilly roost]

got it thanks, and the other staking option is to just hold ILV, either flexible or locked? are the tokens stored still in your wallet/can you move them to another one of your own wallets

[brisk surge]

If you provide liquidity to either ILV or ILV/ETH your rewards are subject to a 12 month lock, however if you claim in sILV those are not locked, can be used in game, and in the upcoming land sale.

[chilly roost]

thanks - and how often are rewards distributed?

[signal wraith]

whenever you claim them

you gain them constantly but can claim anytime. They just get locked for 12 months

[chilly roost]

thanks! locked for 12mo only after you claim or based on when you gain them

[signal wraith]

locked for 12 months from the day you claim them.

[chilly roost]

thanks sorry new to staking

[weak lagoon]

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

The way I look at it, the return is based loosely on the amount of liquidity in the pool verses the volume of transactions on the DEX

[wind walrus]

After staking SLP I can no longer see my Sushiswap liquidity. I see rewards on Dashboard but if I log into sushi it says I'm not adding liquidity. Any ideas?

[left wharf]

You locked the SLPs in the smart contract - so it belongs not anymore to your wallet. If you have no SLP in your wallet, sushi thinks that you have not provided to the staking pool.

After unstaking your SLP, the SLP are sent to your wallet back. Then you can see it on the sushi liquidity.

[inner estuary]

Higher liquidity, lower APY?

I have already locked away an investment in the SLP for 6 months. If I want to lock away another portion of ILV/ETH for a different time frame, will I have to pay double gas fees when claiming rewards?

[marble canopy]

I have only 2 ILV to stake, apart from the 2 I staked last week in SLP, don't have anymore money to buy more. What do ya recommend, I stake these 2 in SLP or ILV pool? I'm in for a long term.

[wind walrus]

Awesome. Thank you. So there is no way to see Sushi liquidity rewards until I unlock?

[wind walrus]

Probably ILV since you wouldn't have the ETH needed to stake SLP.

[marble canopy]

Nah, I have enough ETH. In that scenario?

[tidal vine]

alright locked up my slp fo for a year. good to go now right?
maybe just get some more to use in the meantime

[left wharf]

I think you have to manage the risk by yourself and think if it is worth with the current gas price. DO NOT SPEND THE FAMILY FARM IN ILV. This is still high risk class. Your live matters more than this game.

[next ruin]

https://tenor.com/view/daniel-greene-daniel-greene-does-it-though-gif-19158820 Jk, obv

[wind walrus]

Oh. That makes it harder. I myself would stake SLP. The APY is to tempting for me.

[marble canopy]

That wasn't the question, but I get your point. I'm aware of that. Thanks. Appreciate it.

[left wharf]

You can look up how much the SLP price for any price pool. But the $ price is always in your dashboard. About the SLP rewards, idk.

[tidal vine]

can someone explain the risk to staking slp? i just dropped $18k on a good feeling about it but id like to know how to hedge

[marble canopy]

That's what! So wanted to figure out the best scenario if I had just a couple of ILV to stake. Thought the OGs know better.

[tidal vine]

got 7.69 slp

[next ruin]

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

[tidal vine]

ty

[wind walrus]

Just remember you can't realize any profit for 12 months after you choose reward unless you take silv as reward.

[marble canopy]

This money is taken from profits from other alts so I'm cool with it.

[wind walrus]

Yep. Already fixed it

[marble canopy]

So, the question still remains....I have only 2 more ILVs to stake. SLP or ILV pool....looking long term.....

[wind walrus]

Wait for gas fees to go down to save a litte.

[marble canopy]

Yeah, that makes sense. Coz I spent a bomb to stake my first 2 ILVs.

[weak lagoon]

Just staked some more!! Can't wait to play homieeeeees!

[tidal vine]

so the apy staking slp is ilv?

[wind walrus]

Long term I would stake SLP but you will have to make the best choice for yourself

[marble canopy]

Okay. Appreciate it, brother. Thanks.

[lunar marlin]

I'm wondering... can I claim my ILVs if they're LOCKED or I'll be only claiming the APY?

[weak lagoon]

It should all be in the staking page under "Vesting", you'll see the amount you have locked, which you can't claim, and then you'll see how much in rewards you've accumulated, which you can claim in ILV or sILV

[lunar marlin]

is it possible to claim the accumulated and restake it?

[junior shuttle]

It get automatically restaked when you claim it

[wind walrus]

You are rewarded in ILV or you can choose sILV but it's only usable in game atm

[lunar marlin]

I dont get it, how is that? If I claim it, wouldn't it go to my wallet? How does it restake itself?

[next ruin]

All yield farming rewards of ILV are locked for 12 months.

[junior shuttle]

No. You claim it, it gets vested for 12 months (locked). You earn APY on it at 2x weight.

[lunar marlin]

ty

[wind walrus]

APY and RevDis

[peak dagger]

What are the current apy's for ILV (locked) sILV (unlocked)

[next ruin]

APY is the same for both

[junior shuttle]

Most accurate way is to connect your wallet to illuvium.io/staking and check it out

[lunar marlin]

Are there any problems if I choose a very low gas fee for my transaction besides the time I'll have to wait?

[wind walrus]

Could get locked

[peak dagger]

Ok so lets say I stake some ILV if I claim my staking bonus in sILV I get everything right away. If I claim it in ILV I get 2x apy for 12 months but its all locked?

[junior shuttle]

For claiming there could be. Staking im not sure 100%, but havent heard of anything other than it taking a long time

which means you would miss out on APY during that time you are waiting for it to complete

[inner estuary]

Anybody got an answer to this ^^🙏🏻

[junior shuttle]

You will stake, it will ask you to claim rewards, you do that and it will charge you the regular gas

[wind walrus]

Yes. Both are separate.

[junior shuttle]

2x gas fee if you are in both pools ofc

[inner estuary]

Both would be in the SLP

[junior shuttle]

still you probably have rewards already vested in the ILV, it would claim that also

[wind walrus]

Every transaction requires gas

[next ruin]

Yes, sILV rewards go straight to the wallet, ILV is locked for 12 months a 2x token weight earning rewards

[inner estuary]

So even though all my money is in the SLP, because I invested it at two different times, I pay double gas fees?

[junior shuttle]

If you put your $ right this instant into the slp pool and claim rewards for the first time, no there would just be one tx

[peak dagger]

Can you unstake the original ILV whenever?

[junior shuttle]

However, that will now make you be in both pools. So when you go to claim SLP rewards again, the ILV pool gains APY also. So your previous rewards will gave their own rewards. At that moment, you will now have 2x gas fees.

[next ruin]

If you stake flex, yes. If you lock in for up to 52 weeks you get scaling token weight on your initial stake up to 2x

[junior shuttle]

You can claim ILV separately. If you claim SLP though, it claims both.

[peak dagger]

Hmm ok this stuff is kinda confusing lol

[inner estuary]

01/08 - invest 1 SLP into the sushi pool. Don’t claim any rewards. 01/09 - invest 1 SLP into the sushi pool. Don’t claim any rewards. 01/10 - I make my first claim for rewards. Am I paying 1 x gas, or 2 x gas

[abstract comet]

2x

[tidal vine]

so after my 52 week lock i can choose ilv or silv?
but if i choose ilv it gets locked again correct?

[inner estuary]

That sucks

[abstract comet]

I'm not sure how you invested on 01/09 without claiming rewards though. Also, does that mean September 1st? Is this a hypothetical?

[next ruin]

You can choose anytime you have rewards to claim. so it isn't all or nothing. And yes, ILV will be vesting (locked) for 12 months from your claim date.

[inner estuary]

Yeah I’m Australian, so September 1st. It’s hypothetical. Why don’t you understand how I invested without claiming rewards. You don’t have to claim rewards until you see fit?

[tidal vine]

will i be able to take some silv to play with in a year, and keep the rest in ilv?

[wind walrus]

You don't have to wait to claim. You can claim ILV or silv when it's cost effective to do so

[tidal vine]

i thought there was a 52 week lock?

[next ruin]

Yeah, if you want to claim pending rewards when the game releases in sILV and then claim the rest as ILV you could do that.

[abstract comet]

Just confused because you assumed something incorrect when you said you choose not to claim rewards on 01/09. Whenever you do anything with the SLP pool (stake, unstake, claim rewards), the first thing that is done is to claim rewards from both pools. That is not optional.

[tidal vine]

so the slp is locked for 52 weeks but the rewards are available to claim whenever?

[next ruin]

If you locked your stake you can't withdraw before then, but you can claim rewards whenever they are available. If you claim ILV, those rewards are locked in for another 52 weeks.

[wind walrus]

The lock is on your initial stake. Rewards taken in ILV are restaked for you for 12 months. Silv can be used immediately in game

[inner estuary]

Ah okay. I wasn’t aware of that. So when I go to invest the second amount, I claim the rewards, which means when I go to claim the rewards in October 1st I am paying the gas for ILV and SLP

[abstract comet]

and on September 1st, you're also paying gas for ILV and SLP...it's a lot of gas yeah

[inner estuary]

Got it. But I’m never paying 2 x gas for the SLP rewards (even if two seperate investments). Appreciate your patience 😅

[next ruin]

Yeah, just have to claim both pools everytime if you have pending rewards.

[abstract comet]

hm? sorry, not following what you mean by never paying 2x gas for SLP rewards

[next ruin]

Multiple claims for multiple stakes in the same pool - it is one claim of rewards for all.

[abstract comet]

oh yes, that's right. When you claim rewards from a given pool (say SLP), they're all together. Good god that would be a nightmare if it wasn't like that.

[inner estuary]

Okay, so what I thought might happen is if I had invested money into SLP at 2 seperate times, I would end up paying gas for ILV & 1 x gas for each investment (3 x total)

[abstract comet]

yes, I understand now. Yep, it's not that horrific.

[inner estuary]

Thanks legends

[brisk vector]

Any thoughts on ideal times to move rewards to vesting to compoud given there are gas charges whenever you do? Once a week? A month?

[warm plover]

what is the most promising in term of profits, stake ilv/slp or hodl ilv?

[vital kayak]

I liked what Cofounder suggested: alternate claiming ILV and sILV. We are doing monthly claims

[vital kayak]

AND, when you claim sILV, it burns 1-1 ILV from supply (actually “doesn’t get minted” as Keiran put it)

[solemn patio]

slp stake prob

[vital kayak]

All the above. WE’RE EARLY AF

[wind walrus]

Correct.

[vital kayak]

you can’t go wrong investing holding or staking ILV. Amazing project! Tho I love the Res Dis staking offers

[clear pelican]

by staking on the ILV/ETH LP do i also earn Sushi when buying the LP tokens on sushi dapp?

Why does it also say that I need to "Vest" my accumulated tokens to "Aquire" them? does that mean I can only get rewards after 12 months sent to my metamask?

OR is vesting different from the usual Staking and doing the usual unstake and collect rewards?

[alpine vault]

The ILV rewards are staked and locked for 12 months. That's the vesting period it's referring to. Then they unlock and you can withdraw.

[clear pelican]

So if I choose "Flexible" I can claim my rewards whenever?

[alpine vault]

I don't think you get sushi rewards, but I'm not sure. You still get the trading fee that goes to the pool, though, since you get the SLP tokens back when you unstake.

[alpine vault]

You can unstake your investment and withdraw whenever you like, but the rewards would still have a 12 month vesting period.

You can claim as sILV, which is pegged to ILV but can only be used in game, without a vesting period.

[inner estuary]

What do people mean when they say res dis?

[exotic igloo]

Revenue distribution

Revdis

[inner estuary]

Oh right. Got it. Thanks

[spiral flame]

They will generously distribute 100% of the revenue to the stakeholders. 🤤

[brisk surge]

Hello, pretty noob uphere
18y old, third country average income :))
Is it worth staking 2.5ILV for 6 locked months? I am pretty bullish on this project.
I am not particularly interested in playing the game since I dont have enough funds, I want those ILV that I get by reward to keep them for the second major title in 2023.

If I lock stake for 6months on ILV pool, once the stake time is gone, in order to get my ILV reward I will have fo wait another 1year or 2 years? I am confused thanks
Is it worth?

[narrow tiger]

Okay, hoping I am just missing a step. I am following the video guide by Illuvium Academy on staking. I swapped ethereum for ILV, and I think I also performed the liquidity transaction to acquire Sushi LP. However, I think I missed something since I cannot stake any SLP. And it doesn't show that I own any. However, I cannot add liquidity again to my ILV.

[spiral flame]

ILV rewards are staked and locked for 12 months after claiming.

sILV rewards can be used immediately after game release

[spiral flame]

try to add the slp token address to your wallet

[narrow tiger]

I have ILV and SLP added. It says 0 SLP

[spiral flame]

then maybe you have 0 SLP.

[narrow tiger]

So you do not gain a SLP upon adding liquidity to your ILV?

Nevermind I found the issue

I had to buy ILV. And then use more ETH to add liquidity. Is this standard?

[spiral flame]

Yes you need to provide liquidity to the Sushi $ILV / ETH pool

you need to have the same amount of ILV and ETH in terms of USD

[narrow tiger]

I see now. So one transaction to acquire ILV. A second transaction to provide liquidity?

[spiral flame]

err, yes.

[dusty kraken]

at 2x weight, does that my coins double after the 12 month vesting or this just applies to the 2x APY?

[narrow tiger]

mind if I dm?

[lunar marlin]

Help! Ive just did the Liquidity in sushiswap but theres no SLP showing in my MetaMask!! HELP

[spiral flame]

sure man

[dusty kraken]

What percentage of your portfolio is staked between ILV and ILV/ETH?

[lunar marlin]

Why cant I see any SLP in my wallet? I've just did the "add liquidity" according to the video tutorial

[dusty kraken]

im doing 50% 50%

[mint cave]

!contract

[woven ibex]

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

[foggy mist]

Did you add the SLP contract to your wallet?

[lunar marlin]

I did

Can someone please help me, I'm really worried

[spiral flame]

does it say 0 SLP?

[lunar marlin]

yes, exactly

[spiral flame]

then you have 0 slp

[lunar marlin]

but I added the liquidity in sushiswap, shouldnt I now have SLPs to do the staking?

[spiral flame]

did your ILV and ETH disappear?

[lunar marlin]

nope, I still have all my ILVs

[junior shuttle]

then you didnt add liquidity

[lunar marlin]

What? How? It said the transaction was approved...

[spiral flame]

then it was not successful. You need to have equal worth of ILV and ETH

[junior shuttle]

How do you still have your ILV then?

[foggy mist]

If it was your first time, it could have been the transaction to approve spending limit

[spiral flame]

it was approved to add 0 liquidity

[junior shuttle]

That was probably it

[paper yew]

How many silv should I take if I want to play game after it live.

[lunar marlin]

Is that a thing? Should I try it again now? Can I just put max ILVs in the liquidity?

[foggy mist]

Yeap you can check the transaction. It should contain only gas fees for approving spending limits

[spiral flame]

you need ILV and ETH. youre adding liquidity to ILV/ETH pool

[lunar marlin]

what if I dont have ETH?

[spiral flame]

then you cant provide liquidity to ILV/ETH pool

[lunar marlin]

omg does that means Ill have to swap it again to make it even?

[spiral flame]

or get some eth to match your ilv

[ruby wing]

https://tenor.com/view/this-guy-gets-it-nick-offerman-gif-14758472

[lunar marlin]

can someone please make an audio call with me? Im having trouble finding the right swapping numbers for ETH / ILV to do the stacking

[foggy mist]

Have some of both ILV and ETH in your wallet, when you're adding to the liquidity pool, there is a max option there that will calculate how much you need to balance both out

[lunar marlin]

Well, I did just click the max for ILV and did the transaction, which was approved. But then theres no SLP in my wallet, only my ILVs

The process I did was swap all my ETH for ILV and then go to Liquidity and put max ILV

I was doing exactly like the video... but no SLP in my wallet 😦

[mint cave]

@topaz pike

!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]

the youtube video rah and I made above walks you through the entire process

[lunar marlin]

I did just follow exactly the video process

[mint cave]

yeah i was linking it for the guy above, sorry

[lunar marlin]

can someone maybe call me?

[mint cave]

you swapped ALL your ETH for iLV?

[lunar marlin]

exactly

[mint cave]

yeah you need an equivalent USD value of ETH AND ILV to provide liquidity

like, $500 worth of ETH and $500 worth of ILV

[lunar marlin]

how am I going to do that now then?

[mint cave]

to do it now, you would swap some ILV back into ETH, enough to cover a half and half and then extra for gas fees

if you literally spent every ETH in your wallet, you'll need to send more ETH into the wallet to make the swap

[spiral flame]

if you have 500$ worth of ILVs, swap half of it back to ETH

[lunar marlin]

man im having so much trouble

theres no 50% option in the swapping, only MAX

[mint cave]

for swapping? you just enter in half-ish of the ILV

to sell it

[spiral flame]

how many ILV do you have? Like if you have 2.4 ILV, swap 1.2 back to eth

[lunar marlin]

ok so after I do that

I'll then be able to add liquidity for sure?

[spiral flame]

then do what you did before. The only difference is now, you can actually add liquidity with your ETH and ILV

[topaz pike]

very helpfulllll

[ruby sapphire]

I have a question? I previously provided ILV-ETH liquidity and locked it for 20 months. What would happen if I continue to provide some liquidity and lock it for 30 months now? Will my original liquidity be covered or passively extended to 30 months?

[mint cave]

the lock periods are weeks not months

each time you stake an additional amount is its own individual stake

[ruby sapphire]

This is not the point of the problem, don't worry about time

[mint cave]

it's important to clarify, however.

[ruby sapphire]

Is each bet alone? Okay, then I see

Thank you

[simple copper]

Do you get sILV when staking to eth/ilv pool?

[prisma juniper]

You can opt to claim rewards from the eth/ilv pool as either ILV or sILV, yes.

[simple copper]

Thanks!

[clear pelican]

Can a mod confirm this?

[honest wraith]

He’s correct, all ILV rewards claimed are automatically vested into the ILV pool for 12months

[mint cave]

confirmed

[clear pelican]

So lets say I see i can "Claim 0.005 ILV" when i pay for the transaction fee it will only start the 12month clock from there?

[warm plover]

why is staking slp have more APY than staking ilv?

[mint cave]

yes

i wouldn't recommend claiming until the gas fees justify it though

[clear pelican]

yeah im just surprised with the 12months

to get the actual mined "rewards".

similar to how sushiswap did it before when it was 6 months to claim ur rewards. now i kinda get it.

[loud quail]

Adding liquidity to the SLP pool benefits the protocol by facilitating swaps as well as generating fee revenue via swaps

this is generally the case with all defi farms where a native/other token farm will provide better yield rewards than a single staking pool

[lunar marlin]

When adding liquidity to sushiswap, I first need to pay a fee to APPROVE ILV and only then I'll be able to actually add liquidity?

[gloomy gazelle]

Correct

[clear pelican]

Just manage the Impermanent Loss part of adding to a Liquidity Pool (LP). 🙂

[lunar marlin]

and can I stake to a different pool or will I have to pay fees for whatever reason if I'm already in one?

[gloomy gazelle]

Uh not sure what you mean exactly. But if you want to add another deposit to an illuvium core pool that you are already staking in then you will first have a transaction for claiming your current rewards waiting to be claimed. It will be part of the staking UI. No need to claim separately

[lunar marlin]

I mean, I have in the first core pool, what if I want to add to the sushi pool?

[gloomy gazelle]

Ah. No I don’t think you will.

But once you start claiming SLP earned rewards you will be doing two transactions to complete that one for ILV only pool and then for the SLP pool. So you won’t need to claim the ILV only pool rewards separately (at least not as often I guess it depends on how much SLP you stake)

[half verge]

hi I have a question about the difference between locked and flexibel staking. When it is flexfibel I can withdraw or cancell the staking at anytime right? But what is the dirrerence between earnings? I see APY is 42.45% for flexibel.. if I understand correctly this would be the gain after one year right? On locked it is the same APY for one week.. how do I calculate the earnings for a week? (invested amount X 0,4245 /52)??

[steel patio]

Locking scales up to 2x rewards if locked for 12 months

[half verge]

so for locked if I leave for 12 months APY is 84,90%, you mean it would be double that? 169,8%?

[manic spindle]

Flexible staking means you can withdraw at any time and your token weight is 1.0. Locked staking means you cannot withdraw during your locking period and your token weight is up to 2.0 depending on the locking time you choose. A higher token weight means that your staked tokens effectively count as more for the calculation of Yield Farm rewards and Revenue Distribution. The APY shown on the staking page overview for the core pools is the APY with full 2.0 token weight. A flexible stake would have half of that. The APY can always change though 🙂

[gloomy gazelle]

You are not guaranteed that APY for a whole year. That is just what the apy is currently. It has been going down overtime. And will continue

[half verge]

oh aa 84,90 is the already doubled amount

[gloomy gazelle]

No. The apy you see (84.9%) is what you’d be earning at if you locked for 12 months. It’s 2x the flexible rate you quoted above.

[cosmic trellis]

Hey y'all just a question, would weight matter for revdis rewards?

[gloomy gazelle]

Token weight (how long you locked for) . Not pool weight (which pool you staked in).

[half verge]

So I want to choose flexibel staking because I want to have access to my funds if i need them.. I want to earn ILV not sILV so I have to choose that and withdraw my rewards from time to time right, not to many times because it costs gasfees. The claimed rewards are locked for 12 months from the moment I claim them is what I understand right? Or is it from the time I earn them?

also once i claim my ILV, can I stake them right away for compounded interest?

[gloomy gazelle]

Yeah that’s about right. I wouldn’t say “withdraw rewards” it’s claim/vesting.

When you claim rewards they are automatically staked and locked for 12 months at 2x weight.

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

[half verge]

oh! wow! so, the rewards on that, when can I claim them??

[gloomy gazelle]

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

[gloomy gazelle]

All rewards from all batches in the ILV only pool are accrued together. So you claim them along with your rewards earned from your initial deposit. It’s frickin genius

The rewards are added in tiny amounts every block… so like every 15 seconds.

[half verge]

I mean after 12 months when it is unlocked I can withdraw my earnings+ the compounded interest of that?

[cyan wagon]

claiming cost gas fee?

[gloomy gazelle]

Uh no. Your interest will also be locked when you claim/vest

[gloomy gazelle]

Yes

[gloomy gazelle]

You may end up having some ILV in the staking pool till after the end of token distributions in like 3 years. But it’ll be the compounding interest so it’s pretty cool

[old nimbus]

Can you guys stop spreading the word about ILV, my APY is dropping really bad.

[half verge]

ok so basiccally I am a fool if I don't stake my ILV, when i choose flexfibel I can stop anytime..

[gloomy gazelle]

You can stop with your initial deposit yes. But your rewards will remain locked until the timer is up. After that 12 months you can withdraw the rewards or leave them in earning at 2x weight.

[half verge]

yes got it... wow.. jjust wow..

[gloomy gazelle]

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

[cyan wagon]

Keep repeating the staking process, enough to raise generations~~~~~~

[gloomy gazelle]

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

[half verge]

thanks! me know now what I have to do🧑‍🎓

[gloomy gazelle]

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

[coarse stag]

Hi, will my SLP increase automatically when staking ETH and ILV on SUSHI

[warm plover]

hey, i have a question that keeps bugging me, if i stake ilv now and after few months my wallet(metamask) got hacked or i upgrade it to trezor, what is the mechanism to claim my reward to the new wallet?

[manic spindle]

You can only transfer what is unlocked, so if you have deposits locked or claimed rewards still vesting, then those couldn't be moved until their locking period is over.

[tall folio]

Can you elaborate by any chance

[tidal vine]

so if you stake $100 in ilv and eth is the %600 apy on $100 or $200?

[spiral flame]

I wish we don't have to claim the "dust" whenever we stake 😅

[hardy orchid]

hey, about to stake in today or tomorrow, can i check first how do i estimate my sILV returns/rewards based off how much i staked?

[rocky arch]

hey everyone good day! would just like to ask where is the APY of more than 600% on ILV/ETH staking is coming from? what are the factors that attribute to this much returns? I am asking because i'm looking forward to months or years after release of the game. Will the APY of more than 600% hold or will it be much less?

[wanton nova]

This depends not only on how much you staked but also on which pool you choose and on your token weight. Based on personal data the ILV pool with token weight of 2 gives roughly 0.0028 ILV / ILVstaked per Day and 1 SLP (not ILV!) with token weight of 2 yields 0.127 ILV / SLPstaked per Day. The APY however will change over time

[wanton nova]

AFAIK the APY depends mostly on the total value locked in that pool and on the amount of ILV given out as yield rewards. This amount ILV decreases every two weeks by 3 percent and lowers the APY. These rewards are distributed to the people who stake. So more SLP in the pool means less share you get. https://medium.com/illuvium/9-tokenomics-launchpad-and-reward-details-5894c3b356be

[rocky arch]

Yield update cycle: Fortnightly
Adjustment ratio: 97%
Pool weights are initially set as follows:
$ILV/ETH: 0.8
$ILV: 0.2

[rocky arch]

you were pointing to that right? fortnightly meaning every 2 weeks, and 97% adjustment every fortnight. I see I see

[wanton nova]

yes

[rocky arch]

I honestly, did not understand the graph at my first glance but when you put some texts to it i understood it now. thanks a lot Cooper!

so what this means is that is we are so lucky to be so early in staking that we are experiencing more than 600 %

[wanton nova]

you are welcome. I didnt get it when I read it for the first time either 😄

Yeah I think we are in the third or fourth adjustment cycle

[hardy orchid]

This was what i was looking for! Big thanks sir! :)

[manic spindle]

@warped marlin No 😉

[warped marlin]

did i say something?

[manic spindle]

Yes, a long nonsense message I had to delete 🙂

[warped marlin]

oh im sorry it was my son hitting the keyboard 😄

[slender remnant]

Not sure if people would want it but I think it would be cool if the staked sushi LP showed the $ value, calculating impermanent loss at any given moment.

[lilac coyote]

I always appreciate additional metrics, however I do like my dashboard to be purely bullish.

[cloud quiver]

Do you get RevDis from claimed rewards that are vesting?

[lilac coyote]

Yes, your total staked ILV is what is used to calculate your allocation of revdis

[pure shadow]

https://tenor.com/view/woah-barney-rons-gone-wrong-i-cant-believe-it-is-this-real-gif-22760383

[cloud quiver]

Thanks brother. Just making sure. Dry powder incoming. Staking SLP this weekend. I need to remind myself ILV is a multi-year play and not just an alt coin

[lilac coyote]

Sounds good. We’re still quite early when you zoom out.

[alpine vault]

apy.vision will show you your IL and the number of ILV and ETH you started with and how much of each you have now. It also has some other cool stats.

[wanton nova]

h*** f*** s*** this is awesome

[north bluff]

How does the SushiLP pool work?

[true schooner]

Is staking gas fee go lower than $30? Or always $40 above? Been waiting whole day but it ain't going down 😂 thanks

[final steppe]

!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

[final steppe]

The gas fees will vary... they can go lower than $30 if there aren't many people trading on the Ethereum network. If people are awake and are buying and selling a lot, then you will see the gas fees rise pretty high! We typically see lower gas fees on the weekends... but right now, they aren't too bad compared to the a couple of weeks ago

[true schooner]

Alright dude thanks! Only have 1 ILV so I think it's not worth paying $60 fee for staking.

[storm elm]

can i stake ilv even tho it is below 1 token?

[manic spindle]

Yes, there is no limit on that. Just be aware that there are gas fees for depositing, claiming and withdrawing so make sure it's worth it for you in your strategy 🙂

[foggy mist]

I'll be able to choose everytime I claim rewards right? Eg, if I choose to take sILV as reward when I claim today, I can still choose to take ILV as reward when I claim tomorrow?

[next ruin]

Correct

[foggy mist]

Thank you!

[halcyon sage]

Just be aware that claiming ILV will lock that ILV in for a year but also generate compounding interest and give you more ILV. sILV is just usable in game or for the mini game land sale

[foggy mist]

Noted on that. Thanks!

[brisk vector]

How does staking work with multiple deposits at different lock periods? IE if I stake 5SLP at 12 months and then another 5SLP at 6 months, will it display both lock periods and earn rewards at separate rates?

[cloud quiver]

Is this a website?

[valid jasper]

Each staking deposit is a separate instance afaik

[manic spindle]

Under "Vesting" you will be able to see each deposit and all claimed ILV reward batches individually with their own locking periods (if they have any). But everything stake within one pool accrues rewards together in one pile for that pool 🙂

[brisk vector]

But that reward pool would have adjusted earning rates right? IE 5SLP @650% and 5LP @400%? So overall it earns at the new average rate?

[manic spindle]

Every deposit/stake earns it's rewards properly according to pool APY and it's own token weight, yes. It's just all bundled together in one reward pile per pool then 🙂

[terse tangle]

Is it (or will it be) possible to check the staking rewards per day/week/whatever in our accounts somehow? I'm thinking in taxes, it will be a pain in the ass

[brisk vector]

Awesome! Thank yaw

[halcyon oracle]

Are the rewards stacking until you claim them or is ther a limit ?

[manic spindle]

If what you see under "Vesting" isn't enough for you, you could always try to tag Carlos in #814313819185741845 and see if he provide something else you'd like to see (or maybe inform you they are already working on it). In general regarding taxes, I personally keep a detailed list when I claim my rewards including transaction link etc.

[manic spindle]

They pile up until you claim them but if you want to claim ILV then their 12 months vesting period also starts at the time of claiming, not earlier 🙂

[halcyon oracle]

thanks 🙂

[terse tangle]

Thanks Stormi. It will depend on each country, mine claims their part of money for each single reward, crazy

[halcyon oracle]

dont know whats the best for me yet, ILV or sILV

[halcyon sage]

ILV if you want to earn, sILV if you want to play without putting in outside money

Personally I will claim ILV and whatever I feel comfortable spending to play ill spend since im so bullish on the token long term

[halcyon oracle]

Bit of both i guess, and i dont know yet the value of sILV for ingame purchase versus outside money, so not easy either

[manic spindle]

Prices in game will be in USD but paid in ETH/sILV. sILV value in game will be 1:1 to ILV value at any time.

[halcyon oracle]

Thanks 🙂

[tulip cloud]

Guys so if i get in the lp pool or simply staking my ilv rewards will be vested over 12months period? Or can i redeem rewards right away

[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.

[tulip cloud]

So i will have to choose sILV if i want claim right away. Then can we swap sILV to ilv at some point?

[manic spindle]

No. You get sILV right away, yes. But no swapping back for ILV.

!silv

[woven ibex]

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

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

[tulip cloud]

I see. Thx

[tall folio]

Sorry can someone can just quickly explain what happens if I was to stake 100 ILV for 12 months. Am I only able to claim it after 12 months?

Secondly obv APY will change throughout the months however let’s say it goes down to %50 but on the day of claiming my 12 month stake it’s at %120, so I receive %120 of my original investment?

[tulip cloud]

Has anyone done the math on which one is better in terms of lp vs staking?

I feel like eth will drag down the ilv gains

[manic spindle]

1. Rewards pile up with every block so roughly every 15 seconds. It is up to you to decide when there are enough for you to justify gas fees for claiming.

2. Neither the APY when staking nor the APY when claiming is relevant. Since rewards are piling up every block that's when the particular APY is relevant. So if it is 120% at one point and 10% 15 seconds later (completely unlikely of course) then you would have gotten 120% APY rewards for one block and 10% APY rewards for the block ~15 seconds later.

[tall folio]

Aren’t gas fees only a couple of dollars and aren’t they only relevant when withdrawing or imputing a currency

[manic spindle]

Claiming rewards is a transaction on the Ethereum Network. When claiming ILV they are staked and thus moved on the network. When claiming sILV they are send to your wallet. So every claim is a gas related transaction. Not just depositing and withdrawing.

[tall folio]

So if I was to claim after 12 months will it only cost me the couple dollars needed based on the transaction time selected or are we talking a lot of gasfees

[manic spindle]

If you would wait a year to claim your rewards, then you pay gas for that one transaction when claiming at that time.

[tall folio]

Oh makes sense, so there isn’t some sort of big tax on claiming my rewards, only the couple dollars needed to claim it in the selected time (gasfees)

[manic spindle]

You connect with your wallet 🙂

[tropic zenith]

do i need to claim staking reward? or it will auto compound?\

[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.

[tall folio]

Oops

[halcyon oracle]

Your initial investment

[tall folio]

So there’s no problem with me claiming it all at the end of 12 months, I can claim every last drop - gas fees

[remote sandal]

When you claim, the amount you claim gets vested and locked for 12 months. If your claiming everything you staked after 12 months, you will be able to get back your initial investment, but all ILV you earned during staking will be locked for an additional 12 months

[tall folio]

So I get what i invested at the end of the year (12 months) then have to wait another year to get my profit?

[remote sandal]

If that is the first time you claim, then yes

You can claim intermittently throughout the 12 months and those rewards will compound staking and be locked from the day you claim them

[tall folio]

Ohhh, why is that?

[halcyon oracle]

Correct me if i'm wrong please. If I choose to stack 10 ILV for 12 months, I will have rewards base on these 10 ILV for 12 months and i also choose to wait to claim the rewards. At the 12 months mark I will get back my 10 ILV invested and so no more rewards are stacking. If I claim now these rewards, they get vested for another 12 months, but do I get new accumulative rewards for what is vested for 12 months ?

[tall folio]

As a 16 year old just trying to make money of this investment. What is my best choice in staking in ILV, I know it’s my choice at the end of the day but can someone just help me out?

[remote sandal]

correct

[halcyon oracle]

Okkaayyy so if i claim rewards at the end of the first month, new rewards will be generated, but not forgetting gas fee for claiming

[remote sandal]

It depends on how much you're investing, gas fees are not very forgiving to people who don't have a lot to invest right now unfortunately. It's very dependent on how much you believe in the project and how much your investing. The SLP core pool gives high APY but it's also higher gas fees to claim so may not be worth it. Just staking in the ILV pool and claiming whenever the rewards reach a point where the gas fees is mitigated somewhat is what alot of peoples are doing based on what I've read here in the discord

[tall folio]

So investing for 12 months and claiming when gas fees are low is the best bet correct?

[halcyon oracle]

For you, what is "a lot to invest" ? like the bare minimum to not get spooked by gas fee

[remote sandal]

Yes if you stake for 12 months, then claim after one month - you have to pay a gas fee to claim but afterward the rewards for the claim will be vested and automatically be staked for you for additional rewards for 12 months starting from the day you claim

[remote sandal]

I can't say what's best for specific individuals circumstances, but that is a good plan that I've seen many others here doing

[tall folio]

Wow this is so complicated, thank you for your time.

[remote sandal]

Depends which pool you stake in and how many rewards you estimate getting

[halcyon oracle]

ILV pool, and i dont really know the ratio of rewards based on 1 ILV. I just discovered this yesterday and i'm trying to get as many informations as possible before investing

[remote sandal]

The current APY for the ILV pool is 84.36. To calculate how much you'd get back per week just use (Initial Investment * APY) / 5200. So if you were to invest 10 ILV it would be (10 * 84.36) / 5200 = .16ILV per week

[tall folio]

Can I pay someone to get in a call with me and explain everything whilst I ask questions?

[remote sandal]

Keep in mind however that the APY will change over time so you may have to recalculate week by week

[desert current]

With the SLP pool, if you claim the ILV, does that get reinvested automatically? Should one pull the rewards or leave them until the end of the 52 week period?

[mint cave]

if you're around in about 15 minutes i will be joining the voice-chat room and can answer any questions

[queen garden]

Gas exploding right now? 100$+ to stake LP and claim rewards before??? 🙂

[halcyon oracle]

@remote sandal thanks, the 5200 is for ? That's a lot clearer now

[remote sandal]

52 weeks in a year * 100(because 84.36 is a percent so you need to divide by 100)

[halcyon oracle]

that was so easy

And last but not least, where can I track the price of gas fee over time ?

[queen garden]

Wow dude. have to pay 65 bucks just to claim? 😄

[glossy dirge]

holy crap adding stake is hella expensive!

if i want to stake to ilv pool and slp it asks me to claim rewards twice. wtf that's a lot of fees.

i spent probably around $300 to stake 4k worth or ilvs

[mint cave]

@dense cloud you cannot lose ILV if you stake in the single pool

you technically can lose some ILV if you stake in the SLP pool due to impermanent loss

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

!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

[dense cloud]

oh so ILV is crypto transferred into the games currency right?

[mint cave]

!ilv

[woven ibex]

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

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

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

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

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

[alpine vault]

Yes. https://apy.vision/

[mint cave]

the ILV token serves functions outside of the game entirely

[dense cloud]

wow thats just

[mint cave]

the in-game currency is ETH, and sILV. sILV is an optional reward from staking the ILV token.

all in-game fees will be fixed USD prices

[dense cloud]

whoever made this game needs to get a job with a president

you cant transfer usd into ILV yet?

[mint cave]

!buy

[woven ibex]

We recommend buying ILV on the main DEX here: https://app.sushi.com/swap?inputCurrency=ETH&outputCurrency=0x767fe9edc9e0df98e07454847909b5e959d7ca0e
After acquiring your ILV, make sure to add the ILV token to your wallet. You can find the contract address at https://www.coingecko.com/en/coins/illuvium and in the case of MetaMask, you can just click on the Fox next to the contract address to add the token.

In case you don’t want to use SushiSwap, ILV can also be found on the following CEX's:

• Gate.io (non US residents) https://www.gate.io/trade/ILV_USDT
• Bitcoin.com

Here is a video that goes into detail how to buy ILV and stake it afterwards: https://www.youtube.com/watch?v=C6YugU4zZr4

[dense cloud]

oh alright thanks

got a lot to catch up on

[mint cave]

yeah it's a lot to take in 😆

[dense cloud]

thank you jeff for editing the video

[mint cave]

haha, thanks

[fiery osprey]

What does APY stand for?

[dense cloud]

so im gonna be using meta mask since i already linked it so i put money in meta mask then i transfer the money from meta mask to ILV

[gloomy gazelle]

Google it. It’s a little complicated

[dense cloud]

seems pretty easy to understand just hope the rest is like that

does there have to be a age limit to play this game?

[gloomy gazelle]

I don’t think so. There is even a f2p option. It’s just not gonna earn you a return on investment. Since you would have invested no money.

[dense cloud]

oh alright thanks

[gloomy gazelle]

My opinion is that on staking site when it says APY it should really say APR. but there’s not a huge difference.

[desert current]

Anyone have an answer for this? Want to get compounding interest if possible.

[mint cave]

yes all claimed rewards will generate rewards

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

[desert current]

How does that work, do rewards go into the ILV pool instead of the SLP pool once ILV is claimed from SLP pool. And claiming doesn’t negatively impact your staking in any way correct?

[wheat kestrel]

That’s correct, the rewards claimed go into ILV pool.

[queen garden]

do you think gas fees will go a bit lower later on? right know they are killing me 😂

[ruby wing]

Just chill

Gas will drop this weekend

[next ruin]

They usually are lowest on Sunday afternoon (US time).

[quick flare]

how do I know how many ILVs I will get after staking for a period of time, is there any kinds of calculators?

[queen garden]

thanks lads!

[ruby wing]

Check pinned

[quick flare]

checked and didn't know which one exactly. I'm new

[queen garden]

downside: 1 day of staking is a lot of money. waiting to stake my slp stack till sunday is real money 😄

[atomic briar]

I just claimed sobre sILV from my staking. Does these claimed sILV will continue to gain interest while I can't use them?

[manic spindle]

No, sILV doesn't compound. You get it unlocked right away 🙂

!silv

[woven ibex]

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

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

[atomic briar]

ok. What are the in game stuff that I can buy with sILV?

[next ruin]

You can pay for travel fees to higher tier areas, shard curing to be able to catch Illuvials, probably other stuff as well. sILV will also be able to be used in the land sale. #🎮〕illuvium-zero

[atomic briar]

Thanks! But, so I guess I won't be needing a bit quantity of sILV right? For example, if I claim everything as sILV and I realize that it is much more than I needed, is there a way to transform it into ETH or ILV, by making trades or some other method?

[next ruin]

Depends on how much you intend on playing, I guess. There will likely be a secondary market where you can swap sILV, but nothing official.

[atomic briar]

yes, probably there will be a secondary market, makes sense

[marble tangle]

new here been following for some time. Can someone explain what the difference is with core and flash pool plz

[cunning perch]

Hey. In core you stake ILV, in flash you could stake other tokens (axe, snx or xyz and others later)

[marble tangle]

Im looking to get some ILV so would it be better to use core pool? I want to play the game eventually. Just thinking what the best way to get started

[marble tangle]

ok got u, thanks!

[cunning perch]

you don't need ILV to play though. please read this:

!ILV

[woven ibex]

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

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

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

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

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

[marble tangle]

I better read this before asking silly questions lol thanks again

[cunning perch]

no worries. we'll be here if you had any questions

[hollow nova]

so...anyone know a way to switch wallets while staked? thinking it's not possible?

worried about my ILV wallet long term

[cunning perch]

how so? if you keep your seed safe I don't think anything will happen to it

[manic spindle]

When unlocked you can withdraw, send to another wallet and re-stake, but anything that is locked cannot be withdrawn until it unlocks.

[hollow nova]

yeah...just don't like the centralized wallet it's in 😉

[cunning perch]

Not using MM?

[hollow nova]

will have to do a planned gradual transition to a better wallet

using MM tied to my old CB wallet

[cunning perch]

hmm, I believe most use a CW with MM

[hollow nova]

I just believe in long term for ILV now, so want to be very secure...Coinbase scares me a bit that it will eventually get regulators involved etc

[ruby wing]

Theres a couple, try them out with ur inputs

[round coral]

out of curiosity, about whats the daily yield for staking somewhere around 10 ILV in the ILV pool?

[cyan rampart]

APY changes, but at 70% APY, 10 ILV would return 7 ILV in rewards over a year.

It would return 7/365 ILV per day.

[round coral]

gotcha

thanks

[cyan rampart]

Which is about accurate currently, as per me with about 10 ILV staked and getting just under .02 ILV per day because some of it is not staked for a year.

[round coral]

yea i would do 52 weeks forsure

[gentle lily]

hi guys ! Got a question : already stack like .7 ilv lock, but i want to add more now. What's the best option : open a flexible stacking and put my rewards and other ilv in, or reopen a lock stack when i got enought money to buy a lot of ilv ?

srry for my english, hope you'll all unsterstand ^^

[mint cave]

every time you stake it creates an individual stake, you don't add or remove from existing stakes

[gentle lily]

oh okay even on the flexible stack ?

[mint cave]

any

[gentle lily]

alright thanks ! So the best option to win more rewards is to wait, stack ilv on mm and stack when you got enought of money right ?

[mint cave]

sure, staking when the gas fees aren't a large portion of what you're staking is a good idea

[next ruin]

You definitely want to wait until you have enough to make sure the gas you'll pay will be worth it

[gentle lily]

ok, i did a mistake on staking only .7 ilv then 😢

[mint cave]

not really, it's now earning you rewards passively!

[gentle lily]

yeah its a little mistake ^^

[next ruin]

The earlier you get in, the higher the APY, so I don't think it was a mistake - but you definitely don't want to stake more for a small amount due to having extra gas to claim rewards now as well.

[gentle lily]

yeah thank you guys, will wait a bit know eheh 😄

[cursive violet]

How do you stake your crypto? Sorry this might b a dumb question

[manic spindle]

!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

[ruby topaz]

Hi. Just wondering is there a plan to allow us to claim the SLP rewards without also claiming the ILV pool rewards? Let’s say I have collected 1 ILV in the slp pool. But my ILV pool only has about 0.02 over the same period of time. I know in time it will grow bigger. But the gas fees of claiming the ILV pool rewards is more than 2x my rewards value lol. Just wondering if we will be allowed to claim the pools rewards selectively in the future? Thanks.

What I meant is while I deemed the slp pool rewards to be good to claim, the ILV pool is much much lower.

[honest wraith]

Unfortunately when you claim rewards you have to take both but as you said over time it will even out in cost as you have more staked in the ILV pool

[ruby topaz]

Ok. So basically I either wait till both pools are deemed profitable and claim at the same time or just claim when I feel the SLP pool is good enough to fill up the ILV pool so that the rewards will generate faster till it can overcome the gas fees?

[honest wraith]

That is correct 😎

[ruby topaz]

Ok. Understood. Thanks so much for the explanation. Appreciate it.

[pearl perch]

What Will happen to the APY of the SLP pool, if Both coins drop in price and vice versa

[gentle lily]

if you stacked 1 week ago at an APY of 95% can it change in time ?

[mint cave]

yes

[gentle lily]

kep

[alpine vault]

The APY is independent of the token prices. It's based on the share of the pool you own and the reward emmissions, which decrease 3% every two weeks.

[wraith charm]

for people staking; do you have a stack in the LP, single staking, and then a bag that you trade? or just put it all in LP and max for a year? Trying to determine the easiest and most profitable in the long run

[alpine vault]

I did 100% SLP locked for a year

[desert sparrow]

does anyone have tips for staking? i wanted to stake 0.55 $ILV but the gas fees are around 60$ which is 23% of my current $ILV value

[wraith charm]

yeah i might say fork it and do the same..lol @alpine vault

[alpine vault]

My goal is to maximize the number of ILV I accumulate. I'm bullish on the game, so it seemed like a reasonable risk/reward to me.

[wraith charm]

the only thing im worried about is if that was the top of ILV vs Eth; I cant decide atm

[clear cape]

How long are the rewards we get locked up for, 12 months after receiving them? But thats only for ILV token and not sILV, correct?

[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.

[clear cape]

what doees that 4th line mean, which batch of ilv gets locked up?

[manic spindle]

"If you claim ILV...." obviously that means the batch of ILV you just claimed 🙂

[clear cape]

What happens if you claim all the ILV left within it, there would be no batch left to get locked up, right? or are the rewards you are claiming, being staked automatically, so you cant actually receive them and sell it off

[manic spindle]

"....ILV gets locked for 12 months and automatically staked in the ILV pool with a token weight of 2.0 for compounding effect..."

If you claim ILV as Yield Farm Rewards there is no way around that 12 months locking period.

[clear cape]

Ahh okay makes sense, thanks for the help. Sorry for the q's, don't use defi often at all

[ripe abyss]

Hello. Can I get some details about staking?
Ilv pool or sushi pool? I don’t understand the differences. Thanks!

[final sable]

If I was to lock my stake in for say 3 months, but didn’t claim it for 6 months would I get the same reward as if I was to lock for 6 months?

[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

[mint cave]

check out all the pinned documents at the top of this channel

[ripe abyss]

check out all the pinned documents at the top of this channel
@mint cave Are there any details about sushi lp tokens? How to aquire? How does it work? Etc.

[mint cave]

!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

[mint cave]

also you can refer to the youtube video link a couple messages above

[ripe abyss]

Thanks!

[tepid folio]

• 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------ Why does it cost like $60 to do this?

[mint cave]

because it costs fees to use the ethereum network

the more complex the interaction, the more expensive

[charred rampart]

does anyone know the timeframe for the ILV pool (n)? ie (12/yr)

[ruby wing]

!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

[clear cape]

@dense relic So i bought about 3.5k usd worth of iLV

[dense relic]

then you'll need 3.5k usd in eth. so 7k total

[clear cape]

ahh, so if i dont wanna add any more money, the best thing to do is just put it into the normal ILV staking pool?

[dense relic]

you could theoretically just balance it out, so cut your ILV in half for ETH

[clear cape]

Ah i see, obviously not financial advice, but what would u personally do ? i was set on the latter because i was going to lock it up for 52 weeks for high APY, but now my concern would be if that would be bad since ill be cutting my ILV tokens in half

[clear cape]

Will my APY be 700% of my total ETH and ILV holdings? or just 700% of the ilv holdings alone so 1.75k usd worth of ilv

[near sentinel]

Hi All!!

Canadian here using crpto.com as a wallet, and am having trouble connectiong my wallet

[dense relic]

Well, both can go up as well. So if you believe in both it (in my opinion) is a very good choice. But it all depends on your risk tolerance

[clear cape]

yeah i ended up doing both, thank you very much for your help, its appreciated a lot :)) yeah im fine if this whole thing goes to 0, so worth the risk lol

[mental tangle]

I'm also from Canada
Highly recommend Metamask

And i use Newton for my on ramp. Imo crypto.com is garbage

[near sentinel]

kk on it

[mental tangle]

https://illuvinati.gitbook.io/illuvium-archives/staking-faq
This has a faq and guide on how to stake
The site it's on has links to basically everything Illuvium 👍

[lilac coyote]

What will be the primary source of rewards for the LP once the 3 years of yield farming has completed?

Before anyone says revdis, that will be divided 50:50 between solo and LP pool

[gloomy gazelle]

The rewards after the token distributions are finished in three years is revdis. Its not divided 50:50 it’s divided evenly between all staked ILV tokens. (Except for token weight based on locking period)

[cyan rampart]

Could be hosted on CEX's and not require the LP anymore as well.

[lilac coyote]

My point/question is what is the additional benefit of the LP aside from maintaining your 2x weight

[cyan rampart]

You can get 2x weight in the core pool as well - 80% of ILV rewards go to SLP stakers though.

[kind loom]

I currently use shakepay, just had a quick look at Newton, do you recommend it?

[cyan rampart]

For every 1 ILV reward, .8 of it goes to SLP rewards, .2 of it goes to ILV Core pool rewards.

[lilac coyote]

Revdis is 50:50 amongst all staked ILV tokens

I’m not referring to yield farming which is ~80:20

[cyan rampart]

I dunno if 50:50 is a good way to describe it - it's just evenly distributed among all staked ILV.

[near sentinel]

dam, 30 bucks gas to transfer a small amount of ETH, gross

[gloomy gazelle]

Revenue distributions are unweighted by pool. Only weighted by lockup.

[lilac coyote]

That’s true. Why maintain the LP beyond 2x (that may be enough to keep the ETH locked up) just curious

[mental tangle]

Answered in #799010390201466880

[mint cave]

$30 for an ETH transfer? that doesn't seem right. unless you're moving to/from a centralized exchange

[gloomy gazelle]

Yeah ethereum network is not great at the moment for small transactions.

[clear cape]

Besides the impermanent loss, is there any catch with the 700% APY?

As in let's say you have 1000 usd worth of ilv. A year later your lock in period finishes.

Let's say for the sake of this scenario that ILV has remained the same price. Does this mean you have gained an additional $7000 through APY?

[lilac coyote]

What is the ETH price in your scenario

[mint cave]

an ETH transfer right now is ~$2.75 at 43 gas

🤔

[clear cape]

Hmm i guess it hasn't done anything too crazy, as in it, it hasn't mooned in comparison to ILV and it hasnt fell off a cliff either

[cyan rampart]

I mean, the point of the LP is to provide a stable price for ILV right?

I fully expect ILV to be listed on CEX by the time we're 3 years down the road. Thus, not requiring the LP anymore.

That's not based off anything official I've heard, but you don't need a liquidity pool anymore if you're listed on CEX's.

[gloomy gazelle]

The APY will be variable due to amount of value in the pool. And how many tokens are being distributed during each fortnight. (And token price which you wanted to ignore)

[clear cape]

So basically you are saying, yes that would be the case except that would require APY to remain at 650-700%. Which is probably unrealistic over the next 6-12 months as it will be declining?

[lilac coyote]

There is a pinned comment with an IL calculator where you can plug in various scenarios and see. But to answer your question IL is an insignificant concern, most likely, given the rewards

[clear cape]

Thanks all for the answers

[cyan rampart]

Yeah, the APY should decline over time as more investment flows into the SLP.

[lilac coyote]

Token distribution will be declining however APY could stay same or increase if token price increases

[cyan rampart]

And less reward tokens are distributed in total.

[lilac coyote]

Probably, but remember, people generally need to buy ILV first in order to stake, which increases token price

Buying then reducing supply, it’s how a token price goes exponential

[clear cape]

Ok i used the calculator. Seems like the max IP would be like 2-3% or maybe 5 at the worst. To me it also seems like IL isn't as significant.

btw when you guys refer to rewards over-riding IL, do you mean the silv/ilv given out to be claimed?

[lilac coyote]

Yes

[cyan rampart]

It's more about the total value in the SLP.

Let's say in this super rudimentary example, there's 1000 ILV going out as rewards total in some time frame. 80% of those go to the SLP, 20% to the core pool.

If there's only 4 stakers in the SLP pool for a total of $1 ea, they are each getting 200 ILV.

If there's $200M in the SLP pool, they are getting.000004 ILV each on their $1.

Every time someone adds value to the SLP, your piece of the pie decreases. Additionally, the entire pie decreases in size over time.

Increasing ILV price means that the ILV you DO get as rewards are worth more, but I don't think increasing ILV price drives up the APY at all.

[lilac coyote]

Yes APY is based on the dollar figure.

[cyan rampart]

Sure, but if ILV goes to the moon, that gets dampened by the SLP balancing ILV with ETH, no?

It does increase the total value of the pool, but not 1:1, because it has to keep liquidity maximized.

Regardless, it's very reasonable to expect the APY to decrease over time, if for no other reason than total rewards decrease over time.

[lilac coyote]

I think at my limit of understanding on this topic so I’ll let someone else step in to clarify if needed

[gloomy gazelle]

APY in SLP pool has gone up while the price of ILV has pumped. My blind estimate is the apy goes up about 10% of whatever the ILV price increase was.

[rancid plover]

Imao, they have done a great job with the tokenomics. No matter which way you look at it, it seems to be a good investment. Especially if you are a gamer.😁

[gloomy gazelle]

Like as the price of ILV did like 10x the apy in SLP went from 600% to 700%. All while more people were adding their SLP to the pool. But that is VERY observational not based on any calculations I made.

[lilac coyote]

Despite more people piling into the SLP. I’m sure there is an elegant calculation/formula to find out the tipping points where APY consistently trends down

[gloomy gazelle]

Yeah I agree. Someone knows how to figure it all out. But I haven’t yet. I just know there’s a lot of moving numbers. So I didn’t try

[rose arrow]

I'm still unclear about LP. Let's say for sake of example 1 ETH = 2 ILV =$500. So if I stake $1,000, that would be 1:2 ratio. Do I get APY in $ amount, so 600% of the $1000? Or based on my ILV amount, so 600% of the 2 ILV I have in the pool.

[honest wraith]

You can only stake 50/50 ratio, it won’t allow you to stake any other way. When add the liquidity on sushi swap to get the LP token to stake it has to be 50/50

[rose arrow]

sorry i wasn't clear. I meant in value, if ILV = half ETH price. So you would need more ILV than ETH to make the value 50:50.

Is the APY based on my ILV amount, or total?

[honest wraith]

The 50/50 ratio is based off of UsD value, so if you were supplying $1000 of ETH you would have to supply $1000 worth of ILV to get the SLP token to stake

[rose arrow]

Yes, that part I get. Now the APY is on $1000 or $2000?

[gloomy gazelle]

I understand what you are asking. The APY is based on SLP value staked. Not the ILV side only.

[honest wraith]

So it would be the $2000 worth of SLP you stake

[rose arrow]

Thanks 🙂

[gloomy gazelle]

The apy shown on the staking UI is what it would be if you locked it for 12 months.

[rose arrow]

Got it... thank you 🙂

[gloomy gazelle]

But apy is constantly adjusting of course based on the various factors. You don’t lock in the APY ever. The APY is variable. But the rewards are accrued every block (like 15seconds)

[honest wraith]

And the APY reduces by 3% every 2 weeks

[rose arrow]

Yes... i've been seeing them go down esp for ILV

[gloomy gazelle]

Yeah that’s because the amount of ILV in there is going way up. All the claimed rewards get locked in there.

[manic cargo]

Hello, in the staking you just win tokens or you win other things apart from that?

[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

[honest wraith]

You earn ILV based on how much you stake either through the ILV pool or SLP pool

[gloomy gazelle]

There was mention of NFTs as a potential reward as well. But that is not active at this time. We will need to wait and see.

[lilac coyote]

Nothing like calling them winnings to get regulator attention haha

[cyan rampart]

To be clear, the APY doesn't fall by 3% per fortnight, the total rewards distributed falls by 3% per fortnight.

[rose arrow]

Thank you

[honest wraith]

Ohhhh, ok my apologies, I misunderstood that part. Thanks for clarifying ❤️

[elder dawn]

Correct - there were 100k ILV reward the first two weeks, 97k the next two weeks, a little over 94k the next two weeks based on what's shared in the tokenomics pages, 97% multiplied by the previous period's rewards each time

[honest wraith]

👌

[rose arrow]

Thanks. but doesn't that mean the APY will fall down as a result?

[gloomy gazelle]

I haven’t checked but we’ve gotta be getting close to as much ILV rewards staked as ILV deposits staked. (Including ILV as 1/2 of SLP) Maybe we are already past that point

[cyan rampart]

./shrug. I expect with a decreasing amount of rewards in total, the APY would fall, but ILV price (and ETH price) are a factor in the APY shown. So the APY can vary with ILV/ETH prices. I believe your APY shown is in terms of dollar value as well, so ILV going very high means you're getting more APY on every dollar you have in the SLP.

[rose arrow]

I see

[abstract comet]

Keeping detailed records now isn't necessary is it? Since all the information is transparent on the blockchain and can be retrieved at any time.

[remote sandal]

Is there a way to see how much ILV is currently being staked out of the circulating supply?

[next ruin]

You can see the staking wallets: https://etherscan.io/token/0x767fe9edc9e0df98e07454847909b5e959d7ca0e#balances

[remote sandal]

Thanks!

[next ruin]

Almost 500k tokens staked right now. No way to know how much is locked in and for how long though.

[mint cave]

technically you could look at every single inbound transaction and check the stake duration...

[remote sandal]

And the circulating supply is somewhere around 650000 right now?

[next ruin]

https://tenor.com/view/blank-stare-really-i-dont-believe-you-side-eye-looking-gif-6151149

[mint cave]

i'm sure some savvy people have already made some private tools for that 😄

[mint cave]

yep

[next ruin]

My bad, there's 311k in core pool and 188k in the Sushi LP. You'd have to then look at those SLP tokens to see how much of that is staked.

[brisk surge]

@jade rampart are you trying to lock your stake or stake in the flex pool?

[jade rampart]

lock

[brisk surge]

And you can see the SLP tokens in your wallet? Your wallet is connected to the illuvium website, but when you try to stake your SLP it doesn’t work?...what error does it come up with if any?

[jade rampart]

yes been trying for the last 30 mins.... one sec.... it might be doing something.

[brisk surge]

Alright, update me when you have one

[jade rampart]

looks like its working!

thanks man. Just out of curiosity how long are you all staking for?

[mint cave]

https://tenor.com/view/forever-sandlot-the-sandlot-gif-13526090

[jade rampart]

haha!

i went for 12 weeks to start. 3ish LP tokens.

[unique bear]

Hi all, dumb question that I'm sure has been answered a million times, but has the APY been decreasing by 3% since staking began a couple of months ago? And therefore if you come in weeks or months later, you'll be starting on an already lower APY?

[mint cave]

the total ILV distributed every 2 weeks is lowered by 3% each time

the more people enter in the pools, the lower the APY

the more rewards claimed, the lower the single pool APY goes because ALL rewards go into that pool

so roughly yes, the sooner you stake, the more rewards gained

[remote forge]

god, i love this community. so helpful. happy to be here among you all just staked 2 more ilv, not much but i believe in this.

[unique bear]

Yeah, I thought so. Getting in early is King

[short pollen]

Are we still early?

Just staked min ILV for 12 months!

[brisk surge]

Yes sir you are here before game launch!

[short pollen]

I will shure play the game!

I got scared of IL so I took the regular Stake!

Wich one did you take?

[clear cape]

Im on 649% 12 months locked

[short pollen]

You braveheart!

Do you have to have both ILV & Eth in your wallet to do that?

[slow tusk]

I've locked it for 52 weeks

[clear cape]

yup and u use sushiswap to create a liquidity pair

[short pollen]

did you go 50/50

Is that 649 shure or estimate?

[left wharf]

Welcome to the club brother

[abstract comet]

it's an estimate. And yes to get SLP tokens, you provide liquidity in a 50/50 ratio

[short pollen]

Ok thank's everyone. I'll see you around!

[whole sundial]

helo

[royal tangle]

Hi all, I'm sure this is going to seem a rather novice question so I apologise in advance. With the price of ILV I can only really afford 1 so my question would be is it even worth staking with such a small amount? Also, I've started reading up on the 2 different core pools and was wondering is there's any benefits of staking one rather than the other?

[tranquil knoll]

Wrong Network
Please switch your wallet network to Mainnet to use the app - does anyone know how to fix this? i can find where to open Metamask wallet ext

[pliant whale]

As Claiming is related to Staking asking here. From illuvium->Rewards when claiming is it possible to Claim only from ILV/ETH SLP and not both (the default) as we need to pay 2x transaction (of $30-40 yesterday) and as I have little SLV staking the 2nd (or maybe 1st, not sure the order) transaction I am paying that amount and receiving 0.1 or less ILV. Also we will also have to pay eth-gas again after vesting for tiny ILV amounts. Also when adding to Stake we currently need to claim both these again. So my 2x requests, if possible. 1. Can we claim from a single pool? 2. Can we add to our Stake without claiming?

[ruby wing]

top middle in your metamask popup

should say X maininet

[ruby wing]

You need to claim before staking additional, as for only claiming one pool, I do not believe it is possible to just claim one pool when you are in both LP and single

[ruby wing]

You should stake in single asset pool if u end up staking

[gloomy gazelle]

Number 1 & 2 here address the gas costs of claiming from SLP and it forcing 2 transactions … #🥩〕staking message basically it’s cheaper gas wise the way it is now. Or else you don’t get compounding interest, which is a major reason for claiming now anyways.

[pliant whale]

Thanks for the quick update and link 👍

[royal tangle]

Thank you for the response, I'll do some research into that.

[ruby wing]

The reason is that you have a relatively small amount and gas would eat up your rewards

[radiant musk]

If i staked $700 into the ETH/ILV pool with current gas levels how much money would get eaten up?

[brisk surge]

what tipes of rewards do you have if you stake the ilv?

[mint cave]

!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.

[tranquil knoll]

Thanks

[red summit]

Does it make sense to stake any amount or is there a minimum amount to stake?

[viscid glade]

hi, after a week of staking in the sushi/lv pool can I claim my ilv that was made?

[final steppe]

There is no minimum amount to stake but keep in mind you will be paying a gas fee when you stake, whenever you claim rewards, and when you withdraw. So just think about how much you are staking, what your rewards might be, and make sure it is worth the gas fees for you 🙂

[final steppe]

You are able to claim your rewards at any time as long as you have accumulated enough! I believe there is a minimum required amount of at least 0.01ILV in rewards before the Claim button becomes active for you

[red summit]

Any video or document about staking that you would recommend?

[final steppe]

There is a staking tutorial video in the pinned messages of this chat, if that's what you mean 🙂 It will go through the steps of buying and staking ILV. Then there are also these two medium articles which go over details as well:
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