🥩〕staking

[grizzled kindle]

no you dont i use trust and i staked it fine go to the staking website and then connect your wallet

so for say if i had put 0.5 eth and 3 ILV i would recover those ?

Correct just wondering if i will recieve less than what i put it but then it should balance from the profits

[grizzled kindle]

im not sure

[steel patio]

The ratio of tokens is down the bottom

[grizzled kindle]

alright its just because im unsure if i should stake my sushiLP for 365 days since the APY is 645% im just making sure i will get it back considering the valuation predictions for ETH

[steel patio]

Yeh you get more of the lower token.

[grizzled kindle]

im just going to do it cause mayswell

alrighty thanks guys for the help

[steel patio]

Like I said, play around with the calculator putting in different assumptions. Only way to really lose imo, is not staking long enough or ILV really crashing.

Main risk as I see it is ILV crashing, but you carry that risk with any investment & in the single pool aswell.

[grizzled kindle]

hey there is there any cooldown period between staking

[cunning perch]

No you can stake as many time and as much ILV as you like if that's what you're asking.

[grizzled kindle]

for some reason its saying iv got 0 slp when ive hot 1.26

[cunning perch]

In the pool? Might wanna refresh of disconnect and connect again

[grizzled kindle]

alright ill try that

[karmic canyon]

Question. I have some rewards claimed and they are now in the vesting periode. Weight is 2. So is it still compounding and if i have 1 ILV as reward will it be more if the vesting period is over? my staking reward and my LP reward i can see, but not the rewards in the vesting period?

[grizzled kindle]

its stillnot working

[cunning perch]

whatever you claim will move to the vesting section and stay locked for one year compounding to the exact weight of your original stake. To see the rewards in the vesting section, you're gonna have to claim. For LP, you have to pay more gas.

[cunning perch]

so you have staked your SLP in the website and in the dashboard you cannot see the amount?

[grizzled kindle]

i had just finished my 1 week lcoked period for SLP and im trying to stake it for 1 year but the amount says 0

[cunning perch]

so you locked the SLP for one week and the 1 week is over now and you wanna restake? Check the Vesting section and see if you have the option to withdraw there.

[grizzled kindle]

i do

i thought by withdraw it meant take it back in my wallet sorry im new to this whole staking thing

[cunning perch]

It's ok. Yes, withdrawing it will send it back to your wallet and then you can stake it again for however long you wish. That's why I believe you should check the vesting section if you wish to withdaw, but idk why you keep seeing zero

[grizzled kindle]

in the vesting section i can see my 1.26

[cunning perch]

So it's there. If you wish to stake it for 1 year, withderaw it and again stake it. be advised you're gonna have to pay 2 gas for two transactions.

[grizzled kindle]

alright thanks for that, that answers my question

[cunning perch]

no worries bro. If you had any more questions feel free to ask.

[grizzled kindle]

will do

[karmic canyon]

Claiming 1 time per month...gas is to high...and over one year i will have a monthly income. Hope it will be nice.

[cunning perch]

you will have another income which is paid through Rev. You'll have to decide whether you want to withdraw your staked tokens after their vesting is done as you will already be paid Revenue on which you can live and it'll be free to claim and sell/stake.

[grizzled kindle]

wdym revenue

[cunning perch]

!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.

[grizzled kindle]

so if i stake for 1 year i'f get revenue

[cunning perch]

doesn't matter how long you stake for. You will get Rev based on your token Number and token weight. For tokenomics you can ask your questions in #💰〕token

[storm elm]

wow staking takes 32$

[cunning perch]

gas is reasonable compared to the last couple of weeks.

[storm elm]

the more tokens i stake the more it will cost? if it doesnt its better to stake alot of tokens right?

[cunning perch]

No it doesn't matter. Gas is only gas. you can check it on the right side (swipe left if on phone) or check gasnow.org for detailed info about it

[flint thicket]

Hi guys, just for my own understanding is there any risk when staking? I've just staked my XYZ in the flash pool and also my ILV for 3 months

[cunning perch]

flash pools and ILV single asset pool has have risks. though if you lock yours you cannot sell or touch it if you wish. gonna have to wait. SLP has risk of IL

[flint thicket]

Thanks Arash! locking making me a hodler for once

[sinful hatch]

Anytime coins are put into a smart contract, there is risk.

[cunning perch]

yeah that's why it'll be good for many ppl who might sell the bottom if they had their tokens at their disposal 🙂

[knotty wedge]

noob question, how does APY work when staking other coins other than ILV? xyz right now has a 650% apy, does it mean if I stake 1 XYZ for 1 year I'll receive 6.5 ilv? 🤔

[cunning perch]

Flash pools are 2 weeks 🙂 you won't get to 1 year 🙂

[knotty wedge]

oh that makes sense that's why they're called flash then 😂

[wanton nova]

Also there is a fixed amount of ilv distributed to the people on the xyz pool. Your rewards depend on your share of the pool. The more people stake the less the apy will be

[stable linden]

Curious why these are done in the first place? What benefits does it give the creators of the pool?

[cyan wagon]

what is the minimum amount of ILV to be able to claim?

[wanton nova]

its mostly exposure I think. people holding other coins hear about it, stake, get ILV and might start to invest in the game or get interested in it

[cunning perch]

there is no minimum. There is just Gas you have to keep an eye one. You don't want to claim less than you pay gas for

[stable linden]

Gotcha so attracting attention to a chunk of distribution

[wanton nova]

0.01 ILV afaik

[cyan wagon]

i see thanks!

why i cannot view my liquidity position in susgi swap after staking?

[manic jacinth]

Staking in core pool showing 85% apy..will these also get decrease when more people stakes in future??

[cunning perch]

yes. 3% drop every fortnight + the decrease followed by people joining the pool

[manic jacinth]

🙏 thanks

It was lot initially and did mistake not staked at that time 😔

[stable linden]

Is the % you get fixed when you stake it or fluid as it rises and falls?

[cunning perch]

It mostly falls. If people exit, it'll go up, and with them joining, it drops

[clear cape]

Dynamic, it will almost certainly trend downwards over time

[manic jacinth]

One more doubt..once locking period is finished and u claims reward then it goes to vesting for 12 month..will it be 2.0 weight of vested coin when vesting time finished?

[clear cape]

Yes 2.0 weight

[stable linden]

Gotcha thanks! Wasn't sure if it was unique to everyone, meaning bobby Joe stakes early at 123% and he gets that forever while billy Jim here stakes at 23% and is stuck there

[manic jacinth]

Ok thanks

[cunning perch]

You stake for 1 year and you get 2x. even when vesting is done, if you keep your tokens in, they will have their weight and will receive Rev

[clear cape]

Good luck with your channel btw, I can see illuvium really taking off for you if you end up covering it a lot after launch

[manic jacinth]

Ok 👍

[stable linden]

Thanks 😊

[open steeple]

Hi guys, the gas fees are based on the amount you stake? Or it is fixed ? Ex. I deposit 1000€ and pay 40€ gas fee, and if i deposit 100€ the cost will be 40€ aswell?

[spiral summit]

Just staked for a year 🤞🤞

[eager lynx]

Fixed

[desert radish]

i dont quite understand how are SLP tokens calculated. if SLP are worth 500 usd and i buy them using 1500 USD worth of ILV and 1500 USD worth of ETH, shouldn i et like 6 SLP tokens? can someone help me understand?

[brisk surge]

Is it just me, or does metamask vastly overestimate gas fees now?

[stable linden]

Might be due to not having enough eth for the actual gas fee. Always make sure you've got some to cover gas

[brisk surge]

I got the eth, it just wants me to put 32 gas on low speed 🤣

[cunning perch]

I figured so too. asking for more when gas is low 😄

[stable linden]

Ah gotcha, yeah it's been fluctuating a lot lately.

[brisk surge]

Metamask is trying to burn all the eth as fast as possible I guess. Yeesh

[stable linden]

Sadge 🥺

[ancient ginkgo]

XYZ train just won't stop

[cunning perch]

yeah probably so. A pain you have to endure

[ancient ginkgo]

the collateral hodling gains are awesome

[wanton nova]

the meta mask estimations are off. usually the gas used is lower then the estimate

i did some txns today and yesterday and the actual gas I paid was ~ 60% of what was estimate. you can check that on etherscan

[brisk surge]

What about the gas tracker? Here in discord?

[wanton nova]

Yesterday I withdrew some SLP (to restake it with higher token weight) and I had to do 2 transactions. First I needed to claim rewards from the ILV pool and then claim SLP-pool rewards and withdraw. After I was done I had a tiny amount of sILV in my wallet. Is this done by the second transaction and is the amount the little bit of ILV rewards gained from ILV between txn1 and txn2?

[wanton nova]

yes on the right hand site in the members list. At the top are the admins and then pricing section with ILV price, ETH price and gas prize. Could also check gasnow.org which is a bit more uptodate

[humble depot]

hey guys

[blazing valley]

binance.org bridge is safe right to transfer crypto from one net to another?

[humble depot]

is there an optimum time to restake if im on the 1 year lock? once a month? every 10 ilv?

[cunning perch]

I don't know Binance.org. I though it was Binance.com

[cunning perch]

what do you mean? Are you talking about Claiming?

[humble depot]

i think the bridge is on a org

[humble depot]

yeah when i claim it automatically stakes right?

[cunning perch]

yeah you claim and it compounds and starts the one-year lock (vesting) procedure.

[blazing valley]

yeah that's why im wondering if it might be a scam site since the market is on binance.com

[humble depot]

a new one year lock or the existing time that the rest of your lock has

[cunning perch]

every claim gets a new one-year lock

[cunning perch]

I would use the original Binance. I suggest you do the same

[humble depot]

so you have to not claim for an entire year to get your money?

[cunning perch]

no. if you don't claim you will never get the rewards. When you claim, you get them one year AFTER pressing the claim button and paying the gas

[humble depot]

so whats the best strategy? claim once per month? once per 20 ilv

[cunning perch]

depends on you and your plans and your strategy AND ofc the gas.

[blazing valley]

i cant find the bridge on binance.com

[cunning perch]

Idk bro. I myself buy stuff on Binance and send them directly to my MM.

[humble depot]

if you are say earning 2 ilv a day, what would your optimum strategy be for max earning not including gas, or say if gas remained constant

[cunning perch]

I like round numbers so if I didn't care for gas and I earned 2 ILV per day, I would claim every 1 ILV

[stable linden]

@cunning perch hey! Is there a bot command to inform about the Vault system?

[humble depot]

so you would claim twice a day?

[cunning perch]

hmmmm No i don't think so

[humble depot]

and how many ilv's are in a silv

[stable linden]

That would be good to add, I'm hearing from interviews what the vault is but can't find anything on it in The white paper

[cunning perch]

for that question you asked, I would do 10 ILV per transaction. That is **MY **opinion and can be wrong so don't take it as FA 🙂

[elder dawn]

I built a calculator to look at claiming at different intervals and take into account gas - i did daily, once every two weeks, monthly and once every three months. There's a bunch of assumptions for missing data (e.g. pool growth rate), but this will get you closer than just guessing. https://docs.google.com/spreadsheets/d/1gj_tPlLzAdeReC0Ne9BcxKN2OJ6xK1nl-9JJ2YW0WWI/edit?usp=sharing

[cunning perch]

ILV (gevernance) = sILV (only in game)

[humble depot]

ahhh ok sorry i thought you said 1 ilv

so what one are you claiming? both?

[elder dawn]

if you claim every 2 ILV, you'll be losing more than 5% of your gains to gas on average, obviously if you claim more frequently, that goes up.

[cunning perch]

depends greatly on your plans and your plans alone

[humble depot]

thanks bro!!

[humble depot]

can i ask your optimum strategy as well then for a 1 year lock earning say 2 ilv a day?

i apprectiate you guys helping me and i understand its dyor

[cunning perch]

no worries. If you get 2 ILV per day, you are already a whale. enjoy it.

[humble depot]

thanks, im so bullish on ilv and eth

[elder dawn]

if you wait for low gas, it's probably around weekly. maybe a little more frequently. given rates are likely to decrease over time, it's probably weeklly-ish now, and then wait longer as rewards slow down across the year. just my math assumptions and not financial advice 😋 this also assumes ILV price, and swapping ETH for gas to get more ILV.

[cunning perch]

as are we all

[humble depot]

ok @cunning perch @elder dawn thanks for your time! very helpful

[hexed roost]

Hi interested in this calculator would yo be ok to attach a link here that is unlocked so values can be entered?

[elder dawn]

just save a copy and you can do whatever you want to it

[hexed roost]

thank you nice work

[halcyon oracle]

!buy

[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]

also please use #💬〕general for that

[halcyon oracle]

ok sorry

[wanton nova]

Yesterday I withdrew some SLP (to restake it with higher token weight) and I had to do 2 transactions. First I needed to claim rewards from the ILV pool and then claim SLP-pool rewards and withdraw. After I was done I had a tiny amount of sILV in my wallet. Is this done by the second transaction and is the amount the little bit of ILV rewards gained from ILV between txn1 and txn2?

[clear cape]

been stuck here for a little while, does this take time to go through sometimes?

[tepid dagger]

for the staking, if i chose 12 months, is there a way to unstake it before 12 months expires?

[clear cape]

no its locked in

[brisk surge]

what gas did you use on this transaction?

[clear cape]

yeah i think its my gas issue, i personally dont manually enter it but nvr had an issue until now. i think the gas just spiked now and thats why its im the queeue ?

[tepid dagger]

for the APY between flex and locked for 12 months, how is it calculated? Is it like 12 months is 2 x token weight, so flex = 43% x 2 = 12 months for 83%?

[brisk surge]

yea so if you chose the wrong gas you might want to speed up and make sure you use fast gas https://www.gasnow.org/

[clear cape]

Thanks Tony

[brisk surge]

Stakers have the option of locking their staked tokens on a sliding scale for anything up to 12 months. Those that choose to keep their staked tokens unlocked get the flexibility to withdraw them at any time. Those that lock gain a boost in their pool weight as a reward for their confidence in the token. This bonus is linear, and with a maximum locking of 12 months, staked tokens are weighted as twice that of unlocked staked tokens. This weighting affects both Yield Farming Rewards and Vault Distributions.

Examples: Staker A chooses not to lock. Their weight is 1.0
Staker B chooses to lock for 1 month. Their weight is 1.083 (1 + 1/12, since they are locking for 1/12 of the maximum period)
Staker C chooses to lock for 9 months. Their weight is 1.75
Staker D chooses to lock for 12 months. Their weight is 2.0

The ILV only pool gives you 0.2 or 20% of the distributed yield farm rewards whereas ILV/ETH gives you 0.8 or 80% of those rewards.

[toxic harbor]

!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

[vital kayak]

Is it more lucrative to stake 26 weeks SLP at 400% than 52 weeks at 650% ?

[clear cape]

...? The APY is higher at 650% why would it be more lucrative at 26 weeks for 400 ?

[merry quiver]

hmm.. I don't get this last part. ILV only pool vs ILV/ETH?

don't we just have ILV in the Core Pools?

[clear cape]

ILV/ETH pool is the sushi LP

[deep trench]

When is the deadline for this Round of Staking?

[merry quiver]

i staked in ILV pool because I swapped my ETH to ILV straight from MM.
are we saying staking it in Sushi is actually better?

[cloud quiver]

I don’t understand this part

[clear cape]

It has higher APY but risk of impermanent loss, but generally the census is that it sushi lp is more likely the better move. If u only have 1 or 2 ILV though, staking into the ILV pool isnt bad

[merry quiver]

I staked 8 ILVs. IL because it's still ETH not ILV?

[wraith charm]

Can someone implement a way to where I can turn my locked staked ILV into a LP token ? I made a mistake early on of locking ilv in for a few without doing a LP. Anyway around this??

[merry quiver]

i mean, I'm very bullish on ETH. so couldn't care less on Impermanent Loss?

[clear cape]

Correct, so yeah sushi LP is the better option. Unfortunately this is why its good to look into these things beforehand haha

[clear cape]

ILV could also moon super hard but the thing is the rewards you get out of it pretty much makes the LP insignificant iMO

[merry quiver]

hmm well, ETH is gonna go to the moon too

[quick bridge]

there is no mechanism to unstake prior to vesting date

[long pawn]

whats the difference between the Sushi LP or the normal ILV staking pool?

[storm elm]

i hold .5 ilv should i stake it to the ilv only pool?

[elder dawn]

each two week period, there are a set number of ILV that are given as rewards for staking. It started at 100k per two weeks. its now at 91k, and decreases by 3% every two weeks. of those, 80% are given to people staking in the SLP, 20% in the ILV. Initially, it was 80k to SLP stakers, 20k to ILV stakers.

[cloud quiver]

So does this basically create the APY %?

[elder dawn]

the difference is what you stake (ILV or the ETH/ILV SLP), the risk, and the rate of return. oh, and the gas fees are higher for the SLP

[merry quiver]

what's the benefit if you've directly staked in ILV vs SLP?
shouldn't ILV holders get rewarded better?

[clear cape]

Yeah i would

[merry quiver]

yeah, i avoided additional gas fees that's why i skipped SLP lol.
didn't know it has higher returns

[mental tangle]

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

[elder dawn]

APY is an output of the calculation. the factors that matter are the ILV price, the number of tokens to be distributed as rewards, and the number of people in the pool. Price goes up, APY goes up, More people enter the pool, APY goes down as there's more people claiming from the same number of reward tokens

[hot lynx]

Hi my question is related to the 52 week staking of ETH/ILV . Does the rewards automatically compound in my account ? As part of my total LP

[long pawn]

So I can only stake SLP in the second, and ILV in the first, right?

[elder dawn]

they want to incentivize liquidity at this point. if there's no liquidity, the model doesnt work, as the Vault needs to be able to buy ILV to distribute. the liquidity pool also encourages more people to join. if there's no tokens left to buy, no one else can get in. it's also rewarding the greater risk of IL and pooling. yes, price moons, but it's not sustainable. liquidity helps make it sustainable.

[elder dawn]

no, there's no compounding until you claim. when you claim, rewards are moved to the ILV pool and earn rewards there as they vest for 12 months

[long pawn]

or how can i stake in Sushi LP?

[mental tangle]

https://illuvinati.gitbook.io/illuvium-archives/staking-faq
There's a step by step video in there

[elder dawn]

yes, to stake in the Sushi LP, you get equal amounts of ILV and ETH, place them in the Sushi LP, and then stake your SLP in the Illuvium Sushi Liquidity pool.

[hot lynx]

Does the 12 months vesting start when they are granted or claimed ? As GAS fees are high . It's expensive to claim lots ..😳

[mental tangle]

Claimed

[merry quiver]

so staking in ILV has no benefit? lol

[long pawn]

shows that i have 0 balance in Sushi LP but I have ethereum and illuvium in the wallet

[mental tangle]

It has massive benefits.
No IL which doesn't matter now with crazy apy but it will.
Plus rev dis

[elder dawn]

thats the balance - there are three reasons to claim - 1) starts the 12 month vesting period, 2) moves rewards to the ILV to compound rewards, 3) they become eligible for rev dis. it's a balance of the value of those three things relative to gas costs. claim too often, gas fees will eat up your benefits

[elder dawn]

currently it has the benefit of 84% APY. its lower gas fees so its better for people with a lower investment, and it's also less risky. depends on each person's risk tolerance.

[hot lynx]

Thank you for the detailed information. What is rev dis ? Is this the game release rewards sharing ?

[frozen pasture]

ILV single-sided xyz staking listed the small window in block numbers
can someone translate this to day and time?
Emissions start at block 13082490. You can now deposit XYZ tokens to earn rewards from the first block. The pool will complete at block 13173742.

[elder dawn]

100% of revenue generated by the game is to be distributed to staking ILV holders.

[merry quiver]

Rev Dis applies for both ILV and SLP right?
I'm bullish on ETH that's why I wasn't caring about IL.

[hot lynx]

This is added to the APY as an unseen extra correct ?

[elder dawn]

yes. both count. also, your weight in the pool counts - so a 2x weight gets rev dis with double the number of tokens. e.g. if you stake 10 ILV for 52 weeks, you earn like you have 20 ILV

[elder dawn]

correct - currently no revenue, so no impact. APY is just the current return of reward from staking

[mental tangle]

I'm in both. I think they are both excellent 👍

[merry quiver]

yeah i mean I was comparing ILV vs SLP.

so one added benefit in relation to rev dis is:
i.e. if I have 10 ILVs in ILV pool, i get rev dis for all 10..
if it was on SLP, only 50% of it will get rev dis? since other 50% is as ETH?

[hot lynx]

Ok Understand , also the 52 week APY . do I get the rate that I sign into the pool at ? Or doesn't my rate flex to the rate that's online and that's up an. Down ?

[vague thistle]

Is staking over after 3 years? If so, does that mean RevDis stops too?

[mental tangle]

APY changes constantly for all regards of when you lock

[mental tangle]

Staking will continue. Rev dis will be only reward then

[elder dawn]

honestly, not sure on that. my presumption is that they are rewarding on the full stake, as the APY is based both on ETH/ILV value, but not 100% on that. I don't work here 😋 if you stake SLP now, your rewards will pretty quickly exceed your initial staked ILV anyway.

[vague thistle]

Rev dis is only rewarded after 3 years??

[mental tangle]

No. It will begin with the land sale and as soon as the game launches we will be getting rev dis as well as the yield from staking/ and LP

[vague thistle]

Whew

[elder dawn]

rate will move up and down based on ILV price, number of people in the pool, and rewards decrease every 2 weeks. you constantly receive the current rate, not just what you originally staked at

[cunning perch]

RevDis will be until there are ILV games....like forever. However, if you unstake/withdraw, you can say goodbye to it 🙂

[hot lynx]

Rates decrease every 2 weeks by % ? and is that until the 52 weeks ? So in 52 weeks the rate could start at 652% and end at 300% ? like that

[cunning perch]

by 3 %

[elder dawn]

yield farming continues for 3 years, decreasing the rewards given by 3% every two weeks. it started at 100k in the first period, 97k in the second, 94.1k in the third, and I believe we're still in the fourth period with 91.2k rewards. next year in august, the rewards will be 41.3k. rate is hard to predict as it depends on people in the pool and the ILV price also

[mental tangle]

https://medium.com/illuvium/29-governance-yield-farming-and-vault-distribution-faq-7327ae7eb507

[vague thistle]

Illuvium

[hot lynx]

I hope the crypto winter doesn't arrive in 52 weeks. I am locked in now 😃. Can you get out ? If I need to money for an emergency ?

[mental tangle]

It's locked. So nope.
Don't invest what you can't afford to lose 😬(or not have access to)

[brisk surge]

that shows the difference between the two pools and 80% and 20%

[cunning perch]

nope. You can exit once the vesting/lock is over. However RevDis is free to claim whenever you want and you can sell or stake it again

[hot lynx]

Ok so once the game starts that rev dis will appear on my ETH address ? and that $IVL can be sold withdrawal or stake ? or converted 1:1 into SIVL game credits ?

[cunning perch]

No. It will be in the website waiting for you to claim. you have to claim and decide what you wanna do with it: stake it again or sell it or just HODL. you're choice. (It'll be in form of ILV) This does not have anything to do with your locked ILV as they will be unlocked when their locking period is over

[hot lynx]

Ah ok every day ? Or week and via the website it will just bank on my IVL address ?

[cunning perch]

Rev will be paid several times a week. Just like YF rewards, you will have to claim them (pay gas) and then they will go to your wallet

[hot lynx]

Via the website of IVL . not on sushi swap and not in the IVL pool ?

[cunning perch]

No. All will be there in the website. Just like YF rewards

[hot lynx]

I am very happy to be a solid long term supporter btw all people 🙏🏻🚀👍🏻🇦🇺

[cunning perch]

we are happy that you are happy 😄

[hot lynx]

Cool how will the game rewards allocation work ? .

[cunning perch]

anything pertaining to the game that is outside the Whitepapaer/medium, is not clear yet. gotta have to wait for it 🙂

[hot lynx]

Ok understand . It could be number of IVL address holders with the number of IVL / by the total daily rewards or something like that ? . Btw how many IVL address holders are there ?

[manic spindle]

Since many are staked 100% with all of their ILV, it is not so easy to see how many ILV holders there are 🙂

[little mountain]

I'm still a bit confuse about this SIlv/ETH pool. I'm already stacking in the main one but I'm hesitating for the 2nd one. Any ELI5 videos or tutos on how exactly the returns works and what I can expect 1 year from now if I stack 2/3 ILVs. Thanks fam

[manic spindle]

!lp You don't just stake ILV. you have to provide SLP tokens acquired via ILV/ETH 🙂 You get the same rewards as the ILV only pool. Just at a higher APY (as of now) which could mean more profits in general (unless Impermanent Loss is too crazy). The LP pool is basically "higher risk for possibly higher rewards" 🙂

[woven ibex]

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

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

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

[little mountain]

Thanks

[merry quiver]

ILV goes to the moon & ETH stays the same = less IL
ILV stays the same & ETH goes to the moon = more IL
ILV and ETH goes to the moon = more IL but still happy because you still made money on ILV?

[manic spindle]

If ILV moons and ETH stays the same then you will lose a lot of ILV because more ETH is bought to keep the 50/50 balance. In the end you will always keep the 50/50 split in USD value. So if both would moon at a exactly the same pace, nothing would change in balance 🙂

[merry quiver]

oh right ok. I missed out that part of keeping the 50/50 balance.
But even when you lose ILV, you'd still gain a lot of rewards i.e. rev dis in that case? because it's counted as a whole, not just the ILV portion right?

[hot lynx]

I hope they go up at the same rate for 52 weeks or IVL is moon as I am locked 🔒 in already 🙏🏻

[manic spindle]

If the APY remains high then even with a ton of IL you'd still get a lot of ILV as Yield Farm rewards, yes. This is what many in the LP pool are banking on and it's for you to decide whether or not that is a sound financial strategy or now 🙂

[hot lynx]

Ok so in the LP IVL/ETH pool you still get IVL rev dis on the ETH 50/50 value also ?

[manic spindle]

For RevDis and pools check this: #🥩〕staking message 🙂

[naive echo]

@manic spindle the link u gave me doesnt say the API

[manic spindle]

Have you connected your wallet? I just opened it again myself and I can clearly see the ILV pool and the Sushi LP pool with their according TVL and APY numbers shown.

[naive echo]

Nah I didn’t connect my wallet

I’ll do that

[merry quiver]

thanks. what I don't get is how are those who staked in ILV pool directly shielded by IL??
we bought ETH anyway to buy ILV...
so if ETH moons and ILV stays the same,
.....................
ah.. our # of ILV tokens remain intact.
whereas, it would have gone lower in SLP.

but the differenec in APY should be high enough for SLP to still be better?

[manic spindle]

You should read up on IL again. People staked in the ILV only pool have no risk for IL because there is nothing that needs to be kept at a 50/50 balance 🙂
https://academy.binance.com/en/articles/impermanent-loss-explained

[merry quiver]

yep, have updated my reply. realized that midway during typing...
but lastly, because of the crazy APY difference between ILV and SLP,. so long as ILV moons, APY can makee up for the IL?

EDIT: just thinking of a scenario where staking in ILV is better..

[manic spindle]

That is for you to decide/estimate. Some will say yes and that's why they are in that pool heavily 🙂 I cannot give you financial advice here, sorry.

[merry quiver]

ok last one, how about this.
what's that scenario where staking in ILV is better than SLP?

if ILV doesn't moon enough and remains the same?

[hot lynx]

So what is the down slide story of the IVL/ETH pool ? I am happy if IVL or ETH moons or if they both do or of they both don't . - I just want more IVL and thus more rev dis from the game

[manic spindle]

Folks, you got to decide these things for yourself. It all boils down to whether or not you think the the APY of the LP will remain high enough for whatever timeline you are looking at to ensure that the possible losses from IL and the additional gas fees to claim rewards from two pools are outweighed by the increased yield farm rewards from the higher APY. That's more or less the bottom line, except for maybe the additional liquidity rewards from transaction fees on Sushi directly 🙂

I cannot tell you what pool is better because I cannot predict with certainty the APY over time. If some super huge whale would drop millions of worth in the LP now, then that APY would take a huge drop f.x. It's impossible to predict, so you gotta tailor your decisions to your own expectations 🙂

[merry quiver]

this is it. can we pin this reply 😆
APY gets lower as more and more people/money is staked on the pool?

thanks a lot @manic spindle !!!

[hot lynx]

Perhaps the flex pool and flash pool is the simple way to go for my next LP as I now have one locked for 52 weeks . Get 50% less APY cash out daily or weekly and not care

[hot lynx]

It's more than that . It's the rewards pool in addition that's got a slope on it downwards also .. too early to pin ....

[stable linden]

Question for claiming rewards, the longer I let it sit there the bigger the gas fee to claim the rewards?

[hot lynx]

Gas fee is flat fee driven by ETH network

[stable linden]

Right so wether the reward has been there for 3 days or 3 months, when I claim it I'll pay the fee based on current gas prices

Ok thanks, thought as much as it makes sense 😅. Basically be very careful when to claim them and weigh costs to reward pricing. Learning ☺️👌

[atomic briar]

How can I see if I got some free NFTs from staking my ILV?

[vast jewel]

If I want to add more to the SLP pool, do I have to unstake my existing stake first?

[manic spindle]

No, you can always stake new deposits even with others staked already. But when trying to stake something, you will be forced to claim rewards first within that transaction 🙂

[unique fossil]

Can someone check my math? If the APY on a flash pool is 4,000% APY, and lasts for 2 weeks, then you will receive 2/52 weeks of the yield so 153% rewards when the flash pool ends?

trying to decide if i want to get in on the XYZ pool

[hot lynx]

The XYZ flash pool is showing 686%

[mental tangle]

thats not how this works sorry🙃

[silk meteor]

That math would be corrct except it’s not 4000% now been more like 600-700

[unique fossil]

damn i didn't refresh my browser from last night lol

[silk meteor]

Yeah it began at like 250k% 😂

[unique fossil]

so its basically 26% return after 2 weeks now. and the rewards are locked for a year

[silk meteor]

Yes but apy will change up and down depending on XYZ price, ILV price and how many in the pool

[stable linden]

Will there be other flash pools in the future?

[manic spindle]

Yes

[naive echo]

To transfer from my coinbase wallet to metamask(ETH network) do I have to use ETH or can I use SOL to reduce fees

[hot lynx]

Can we get advance notice of flash pools paired Coin ? Xyz has pumped 200% ... So too late now .. take care of us 52 week pool owners with some flash love 🙏🏻🚀

[manic spindle]

A) If you check #📰〕governance-news and #870290845612507176 you can see that there has been a lot of early information about this already and B) XYZ was supposed to have a flash pool weeks ago and had to be delayed due to a new audit which means for that particular flash pool there were several weeks of advanced notice 🙂

[dark sundial]

Any way to see the underlying proportion of the lp staked?

[naive echo]

??

[hot lynx]

C ) can we know the next one

[dusky mortar]

How much should i stake minimum?

[manic spindle]

To be voted on by the council I imagine since they recently voted to pause first until XYZ can get theirs. See #📰〕governance-news for this as I shared before already 🙂

[manic spindle]

Up to you. There is no minimum so you need to decide your own financial strategy. Just be aware that depositing, claiming and withdrawing all cost gas fees so staking very little for a short amount of time most likely won't make sense 🙂

[dawn lily]

This was my question, too. What is the point where you have too little XYZ staked to be worth it?

[manic spindle]

Well, regardless of core or flash pools, if your bags are too small then it might simply not be worth it to stake at all 🙂

[naive echo]

What is the difference between core and flash and what $$ is too little to not be worth it

[manic spindle]

Core pools are for ILV staking, flash pools are short term pools to stake outside tokens. What's worth it is for you to determine considering your APY expectations, your intended time frame to stake etc 🙂

[hot lynx]

You need to study and become a master of the ETH Gwei

[dawn lily]

Do you mind showing your math on this? I'm trying to understand how often the interest compounds and if staking in the flash pool would be worth it.

Say, I had 5000 XYZ tokens, how many ILV would that generate in the two week period of the flash pool?

[hot lynx]

You need to study and become a master of the ETH Gwei

[dawn lily]

If this is the way, teach me the way.

[languid dock]

How does the lp stake work. Is it based on how much USD value you throw in or amount of ILV?

[manic spindle]

!lp 🙂

[woven ibex]

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

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

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

[manic spindle]

Also, there is a detailed staking video to be found pinned in this channel that goes through the LP staking process 🙂

[languid dock]

I know how to get in the lp and stake it. I mean like how does it determine how much SLP you get?

It's based on USD value thrown in at the time, correct?

[long pawn]

If i have SLP locked for 52 weeks

can i add more SLP and lock the new SLP for, say, 26 weeks?

[signal wraith]

You can but you will have to pay gas to collect rewards and gas to stake

[hot lynx]

ETH Gwei = gas fee . This is the critical component in the profitability calculated per staking LP process as Gwei is charged to access , swim in the pool and to leave the pool .

[dawn lily]

Yes, this makes total sense to me. Timing your transactions when gas fees are lower and reducing the number of transactions will drastically increase your profitability. I guess I'm trying to understand what the conversion rate of XYZ to ILV is over this two weeks of the flash pool. Is the conversion using ETH as the common factor or $ to determine how much interest you earn?

[hot lynx]

Current and it changes every block

I don't work here . I am but one of the followers chained to 52 weeks of lock 🔐 in double returns LP pool 👀🙏🏻🚀 I can wait and pray the moons align in exactly 52 weeks time or after 🤣

[dawn lily]

Same here! I've already staked in the 52 week ILV pool as well. Excited for this game to take off as I think it's a really cool project that combines AAA gaming, crypto, and play to earn in a really fun and unique way.

[hot lynx]

Good luck Obe one

[dawn lily]

LOL, same to you. May the force be with you.

Still trying to understand the flash pool and if I should get it on this round though.

[elder dawn]

my two cents, unless you already have a big bag of xyz, it doesn't seem to make sense. most of us here are bullish in ILV. if you want ILV, get more ILV. The flash pools are good cross-promotion, but given the short time period, I think a lot of people will dive in, pay gas fees to get in, gas fees to redeem, and basically be swapping ETH gas for ILV. If you want or have XYZ, awesome, bonus. for most of us here, i don't think we're the target audience. just my thoughts.

[dawn lily]

Thank you! I'm not bullish on XYZ at all, but the shorter lock period was appealing. I'm more bullish on ILV than any other crypto project right now.

[wise cedar]

Do I have to claim my rewards first before I can add to what I staked? For example i staked x amount of coins for 52 weeks. If i want to stake another x amount of coins for 26 weeks? Do i have to claim the current rewards first?

[manic spindle]

Yes, but don't claim them manually. You simply go to the desired pool, click on stake, choose your amount and locking period and will then be forced to claim whatever rewards you have pending. So the claiming is done within your staking transaction. If you claim manually first and then stake then you will be forced to claim again what tiny amount has piled up in those few seconds 🙂

[pallid thunder]

cant stake the field "amount" says "please enter an amount" but i put in a number...

[manic spindle]

!lp 🙂

[woven ibex]

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

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

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

[clear cape]

how do i clear this cluster fuck boys

[ionic oracle]

May i ask you guys what pool you are staking in?

[manic jacinth]

What is xyz flash pool in simple layman term? Can anybody explain please..

[signal wraith]

All of them

[manic spindle]

#814313779696238642 message 🙂

[manic jacinth]

Thanks Stormi..i will go through it.

[jagged spindle]

You pray

[exotic igloo]

You need to nounce your transactions in the order of nounce number.

[clear cape]

How do i do that rahlord 😦

[exotic igloo]

Activate custom nounce in metamask advanced settings.

Check on etherscan your transactions

Put them in order of nounce

You can see the nounce in the more detail

Then, send yourself 0 eth and put the lowest nounce first

Do that until you dont have pending transactions anymore

Make sure to use fast gas

[clear cape]

Does it matter if i just leave them like that for the time being? wont affect anything, right?

[exotic igloo]

They shouldnt go through if they have been stuck for a while already

[clear cape]

Yup the slp i staked ended up going through so should be g

[ionic oracle]

How do you guys stake? locked for 12 months? stake ilv or slp?

[wind walrus]

That's up to you. Most do both

[grizzled kindle]

Why every time I click withdraw on my sushi LP I have to keep withdrawing my ilv when I just want to pull it out since I’m just paying lots of gas fees

[cloud quiver]

Anyone mind sharing how much you’d need to have in SLP in order to earn 1 ILV per day? I am bad at math

[clear cape]

i think 8-9 SLP

[thin gale]

Hola, como puedo ingresar a la beta cerrada?

[eager lynx]

#796506693973311549

[ripe spruce]

You need to considerate risk/return and APY. SLP you have more APY but more risk because of impermanent loss (https://dailydefi.org/tools/impermanent-loss-calculator/). ILV single stake you have less risk, but less APY, and the APY tends to decrease more and more because all ILV rewards go to that pool.

[hot lynx]

The amount will increase over the next 52 weeks . If you needed 8 today . You may need 12 in 26 weeks time as the rewards pool is a decreasing slope . Not perfect math . Just a clear explanation 😅

[clear cape]

Yup...every day i honestly feel like apeing in more because i feel like the APY is a once in a life time opportunity for an incredibly amazing project

[hot lynx]

Sure I locked in for 52 weeks at 6xx% however I now know it could drop down to 100 or 50% at some stage and I am stuck for 52 weeks . So use caution 😳🙏🏻🚀

[clear cape]

Yep that's the only risk factor. I dont want to risk too much of my available funds if the APY drops and i get rekt due to my opportunity cost going down the drain. Do you think we will have over 200% at least till before launch ?

[elder dawn]

just remember, we're in a the right time. this is the prime time of staking rewards. enjoy it while it lasts. i am.

[hot lynx]

Mate I really don't know .. if some whales ape in ... Argh .. I hope it remains lots of small fair keen people like us 😅

[clear cape]

The only plus side i can see if there is enough whale money to really shock up the APY, it has to surely mean a demand in ILV token = price appreciation

So even if that does happen, at least we can maybe be expecting a 50-100% gain in our total stack due to that

[hot lynx]

On a 52 week lock . I enjoy it until it hurts and we cry as the APY is gone and the lock 🔐 remains

I am bullish

[elder dawn]

then you look at a different part of the dashboard - ignore APY, focus on number of reward ILV claimed. still juicy.

[clear cape]

We can still get an APY of like 20-50% i think...which is still quite good objectively speaking. it would be a bummer if it drops below that, at least anytime soon

[hot lynx]

Sure don't get me wrong . Just eyes wide open for people who might be too much into a 52 week lock. Another question ? With the Rev Dis from the game . Will that also include NFT sales ? Inc from open sea ?

[clear cape]

That reminds me, you forgot a benefit of a 52 week lock. The tokens have a 2.0 weighing which means you get more revdis.

[hot lynx]

Sure seems realistic . The other factor is the rewards lock is also 12 months .. so will IVL be $500 $50 or $1000 ?

[hot lynx]

The 2.0 is on the APY

[elder dawn]

only on the Illuvidex to my knowledge. 5% of sales on the native exchange. If someone takes something off platform to Opensea, I doubt it.

[clear cape]

The bet if you are investing into ILV, even if you are not locked into is that it would most likely appreciate from here. A $50 ILV would mean the project absolutely went to shit

[clear cape]

From my understanding, the 2.0 also means you get 2x the revdis compared to a 1.0 lock ?

[elder dawn]

thats my understanding as well. as long as you leave your tokens staked, you earn and get rev dis at 2x.

[hot lynx]

It was $50 a month ago . I am just saying we do not know when the crypto winter will arrive at some stage . 🤔

[clear cape]

That's fair. Even if that was the case, the idea would be to buy in more and stock up. This issue of locking up will be if someone puts in money they cannot afford to have the value of it lose 365 days from now. But yeah in terms of the risk, yup, that is exactly a big risk as well as the game flopping. Which is the reason why we get to enjoy this high APY to begin with :))

[hot lynx]

Sure as long as you DCA in and know that if the market dumps in 2022 . We can't get out until August 2022 🙏🏻🚀

I am doing flex lock 🔐 on my others as I have enough in the 52 week lock 🔒 now

[ripe spruce]

dont think this will happen because of ETH 2.0, but is always a possibility

always lock only how much you can lose

[ornate cypress]

Games are recession proof. Like booze and 🎰

[delicate yacht]

whats rev dis

[mint cave]

!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.

[delicate yacht]

ty

[untold lantern]

I wish i have money to buy this dip :(

[brisk surge]

Don’t we all

[untold lantern]

Sad reality :(

I wish some whales will help us to buy ILV hahaha. I will put them into good use

[clear cape]

Most people seem to believe the rewards will outweigh the risks of IL, However the rates can change at any time so it is still a risk. that being said, some people choose to split between both pools as well etc. it's up to you and what u believe is the better move

@stiff swan

[mental tangle]

@stiff swan I would say at these APY IL is a non issue NFA

However I would say minimum $1k ILV/ $1k ETH

NFA

[tidal vine]

ty for the heads up

[languid dock]

The sushi lp stake gets rev dis, correct?

[untold lantern]

You're welcome my friend, waiting for some tip haha jk

[tidal vine]

star atlas

can i add to my slp stake?

[languid dock]

Does anyone know how to determine how much SLP you get? Is it based on like how much USD you throw in?

[untold lantern]

What star atlas?

[tidal vine]

so i need to claim first?

[languid dock]

A hyped up game that's about to go on token sale

[untold lantern]

Just add mate if you have some

[wheat venture]

So I have my 4.2 in the ilv pool. My question is if I do the sushi one can I just claim all rewards as ilv or will it come back mixed I don’t really understand basically

[steel patio]

all rewards are ILV. Rewards are always locked for 12months when claimed.

[rain atlas]

will the NFT drops be paid in ETH or ILV tokens? if so how long are the stakes for ILV if i would want to unstake

[wheat venture]

cool

So explain the impermanent loss thing to me like I’m 5 I don’t get it. Why is the sushi pool higher risk

[elder dawn]

You get about 1 SLP per ~$2600 in ETH/ILV total you pool. The APY of the pool is based on the total dollar amount you put in.

[wheat venture]

How much higher of a risk it it actually

[languid dock]

So then it doesn't matter if you threw in 10k when ILV was 50$ or 10k when ILV is 500$, you would get the same amount of SLP, correct?

[untold lantern]

Ohh cant invest more :( im all in here in ilv

[wheat venture]

Is it a win more lose more type of a deal

[mint cave]

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

[elder dawn]

There's an IL calculator pinned. IL happens when the price of the two things moves differently, e.g. if one coin goes up in price more than the other. in that case, people (arbitors) can buy the more expensive coin for a discount temporarily to bring the pool back to equlibrium. In the end, when you cash out your SLP, you'll receive less of the token that goes up more. Example - if you stake 1 ETH and 7 ILV and ILV goes up more, you could receive something like 1.5 ETH and 6 ILV. Essentially you'll have less money than if you just held the two tokens and didnt pool. the higher APY is meant to help compensate for that loss.

[wind walrus]

I don't believe so. I remember reading somewhere only ILV pool would receive RevDis. Can someone else clarify?

[wheat venture]

Thanks

[elder dawn]

i don't think that is correct - there is an underlying price of the SLP - you're buying SLP tokens, and they have been going up over time.

[tidal vine]

seems like the yield covers it pretty well from my less than one week stake

[elder dawn]

yeah, so far it does. apy isn't fixed, and anything can happen. just more inherent risk in the SLP. experience for everyone in it so far has been positive to my knowledge, but that can change with the market, or as more people enter the pool diluting the return

[wheat venture]

So basically staking now is the best in a sense that I will collect all the possible rev share and higher staking rewards. And I can always continue to restake and vest for compounding profits

[languid dock]

That would disincentivize people to provide liquidity when the game comes out though. That would suck lol

[elder dawn]

basically yes. requires ILV price to do good things, but I believe we're all here for that anyway.

[elder dawn]

SLP receives rev dis.

[languid dock]

I figured as much

[elder dawn]

they need to ensure liquidity - the Vault buys ILV from the Sushi LP for rev dis - need to ensure sufficient liquidity there. need to incentivize it.

[wheat venture]

It’s cool that the team is basically committing to the longer term growth of the game and not just initial hype by doing everything they have with the locking and rev share and all

That being said., it could always be janky on release hah. It’s a game after all in a cutting edge field at that

Idk, what I’m getting at is I hope the high expectations are not to unrealistic as far the development process. Game development is never that smooth even for traditional triple a games it’s always a bumpy road to some extent or another

It’s not gonna just be like, bam finished project with no bugs

[untold lantern]

Yeah but all we can do is trust the devs, and the testers hoping i can be one to test it lol

[wheat venture]

True and that would be awesome

[boreal saddle]

cant access flash pools as of now?

[tidal vine]

yes you can

[keen verge]

Why does the price of ILV/ETH slp drop?

[rain halo]

hi 🙂

[dense relic]

as the price of ILV and ETH goes down, so does the USD value of the pool.

[rain halo]

I am trying to stake SLP but for some reason the Sushi isn't letting me confirm adding to the liquidity pool

[ruby wing]

Hello

[ruby wing]

do you have 1:1 ETH and ILV?

[rain halo]

yes

[ruby wing]

then try refreshing ur page

[rain halo]

oh dw, the value of ILV changed between me swapping eth and adding to liquidity pool

[ruby wing]

oh true

did it work then?

make sure you have enough ETH for future transactions

[rain halo]

yeh all g, the value of ILV went down so when I added the same amount of eth to liquidity pool it wasn't processing

[ruby wing]

true true

[rain halo]

We are able to use sILV earned to buy land with correct?

[ruby wing]

correct

#📰〕governance-news

[rain halo]

To maximise the amount of sILV available am I correct in assuming I should wait until just before release to claim rewards?

[ruby wing]

yes

thats my plan

sILV does not compound when claimed

[rain halo]

And buying land is the one exception to the vesting period?

[ruby wing]

Claiming sILV in general bypasses the vesting

what u do with that sILV depends on the available usecases or secondary marketplace

[rain halo]

Ok perfect thanks!

[inner estuary]

Do we know the number of ILV tokens that have been burned due to the claiming of sILV?

[karmic gorge]

After my lockup period of staking, do I need to pay gas to 'remove' my original amount from the pool, or is the gas fee only for the rewards?

[ruby wing]

check the address, search discord for sILV address, I believe you can see claimed sILV

[ruby wing]

you will have a tx yes

keep in mind, when your staking period ends, if you remain in the pool, your weight is the same

so if u cant afford the gas fee you can just leave it in (from what I understand)

[frozen sable]

Im trying to stake my ILV from my ledger using metamask, However The illuvium website only allows you to use wallet connect which connects to metamask mobile unless i am doing it wrong, and metmask mobile doesnt work with ledger. So is there actually a way to stake with my ledger and does anyone in here currently do it?

[karmic gorge]

@ruby wing Thanks, so it's one TX to take out my original staked amount, then another tx to claim the rewards?

[steel patio]

Illuvium supports Metamask

[frozen sable]

Yeah i have a metamask account attached to it right now but my ledger is not attached to it

I am trying to attach a metamask account that is through my ledger, I had to connect my metamask using a qr code on mobile phone, and ledger is not on metamask mobile.

[tidal vine]

in the metamask extension press add hardware wallet

[ruby wing]

yes

[frozen sable]

If i connect my ledger to metamask on desktop first will it show that ledger account on mobile?

[minor lichen]

Does anyone know what "15 hours" means on the XYZ flash pool. Locked for 15 hours?

[ivory cove]

Is the APY displayed for the flash pools truly APY? Or is it really APR? APY is usually only used when there's compounding

[frozen sable]

I got it all figured out lol nevermind and thanks

[fallen kettle]

Any hints on how to get cheap eth gas fees? Maybe time of day type thing? Fast is at 63 gwei atm :(

[minor lichen]

Trying to work that out myself. Its just ethereum, massive fees.

[ruby wing]

Late nights are the key

letting tx pend as long as your patience can handle

etc

I paid 21 Gwei for my last tx

[minor lichen]

Late night in the US? Like 3am. Im in Australia, but never really see much of a difference.

[ruby wing]

Ya like 3AM EST tn should be good, there is a chart pinned somewhere

it rlly depends tbh

good thing the game will be on L2 🙂

[hardy siren]

Would appreciate upvotes to get ILV pools added to Debank, if anyone is willing. https://debank.com/vote/1385 Thanks!

[ruby wing]

will vote

[fallen kettle]

Totally, but anyone staking will have to contend with the fees :( anyone know of any eth mods coming that will bring network fees down?

[ruby wing]

ETH 2.0 other than that, no

lol

Hopefully spring ETH 2.0 is out

[fallen kettle]

I thought eip1559 was, but it's done stuff all.

[ruby wing]

I think it was to make them more predictable, not lower per say

[stoic radish]

Hey guys, are most folks doing the Sushi LP core staking? I am debating what the best bang for the buck is. And committing to leaving it in for a year is no problem for me. Just not totally up to speed on the whole claiming aspect of it all. And what the strategy is there. Thanks, Noob 🙂

Is claiming the sILV and buying land, etc the play for most folks?

[fallen kettle]

Jr theres some good vids on YouTube that helped me figure it out a descent amount.

[stoic radish]

Man... I watched like 5 and didnt get any clarity lol

Seemed to all go over the steps, and how-to... but I never got a good break down of the risk vs APY, or the whole claiming strategy

Like in here, the big obstacle is gas fees when you do the final withdrawal or claims. Not one youtuber talked about that

[ruby wing]

Check pinned, there is good discussion + tutorial

[stoic radish]

Word! Will do.

[ruby wing]

sweet ON1, congrats and welcome aboard

[tidal vine]

Eth is pumping that’s why

[stoic radish]

Yeah ETH might test $6000 soon

[tidal vine]

If it starts mooning super hard I’ll take usdc profits along the way

[minor lichen]

anyone.

[silk meteor]

It means 15 hrs before flash pool starts to earn ILV reward

[keen verge]

Does adding liquidity to the ILV/ETH pool generate money? If so how do I check? (I’m not taking about staking my slp but does owning slp yield anything?)

[coral umbra]

you have to stake your SLP in ILV staking page to earn ILV

[sturdy wren]

After the rewards have been claimed and the 365 days vesting period ends, will they still compound rewards or do they stop there? Provided they are not removed

[ruby wing]

still compound I believe

[keen verge]

So sushiswap doesn’t provide any yield by adding liquidity

[coral umbra]

it provides if you stake your SLP in their platform, you will earn sushi there not ILV

[keen verge]

Thx

[coral umbra]

you're welcome

[clear cape]

Does claiming ILV from the Sushi LP pool cost 2x as well? I normally claim rewards automatically when i add in more, never claimed it as a one off

[coral umbra]

Yes 2x

[rain halo]

During the vesting period does your investment compound at the same APY as during your term?

[mint cave]

all rewards claimed are placed into the single asset pool at 2.0 weight

[rain halo]

Sorry I'm a simpleton, how does that translate to APY

[jaunty mason]

Hey guys, it is best to claim ilv and wait 12 month or claim silv? i have a few tokens that i want to claim now and unsure which to do.... can someone help? thanks!

[mint cave]

it's the stated APY on the dashboard

83.04% at the moment

[rain halo]

So as of right now 635% for SLP?

[sleek remnant]

What does first block mean? I dont understand this statement. "The XYZ pool is now live. Emissions will start at block 13082490 and you can now deposit XYZ tokens to earn rewards from the first block. The pool will complete at block 13173742."

[mint cave]

when you claim your rewards in either pool as ILV, it is sent into the single asset pool at maximum(2.0) weight, receiving the highest APY possible for the single pool(83.04% right now)

[mint cave]

block = ethereum block

[rain halo]

Is this rate locked at the time you stake, or is it variable?

[mint cave]

the rate will change depending on how saturated the pools are, and in the case of the SLP pool, the price of the SLP token

[mint cave]

https://etherscan.io/blocks

[final steppe]

Check the pinned message in #xyz 🙂

#xyz message

[jaunty mason]

Hey guys, it is best to claim ilv and wait 12 month or claim silv? i have a few tokens that i want to claim now and unsure which to do.... can someone help? thanks!

[sleek remnant]

@mint cave I understood it was an ethereum block. but i didnt understand when i started earning rewards. As soon as i staked it or at block 13082490. @final steppe

[rain halo]

Ok great, thanks so much. Last question, is your initial SLP just returned or is this converted to something else?

[mint cave]

you will get the same SLP token amount you put in, but the ratio of ILV/ETH is likely going to be different

[mint cave]

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

[final steppe]

It depends on what your goals are. What’s best for one person may not be best for another. Make sure you understand the differences between sILV and 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.

[last sedge]

So this ILV stays ILV (that has to be vested for 12 months) or can I claim it as sILV right now?

[final steppe]

!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

[final steppe]

You can claim either of the two 🙂 But yeah, ILV is the governance token which would be vested for 12 months, after which you can sell or keep it vested for more rewards.

Otherwise, you can claim sILV now which can be used to pay for your fees in game once it is launched (or to buy land, if you have enough of it when the land sale comes around)

[jaunty mason]

When will land sale come around?

[final steppe]

The proposal for the development of Illuvium: Zero just passed, so based on what’s written in the proposal, the land sale is expected in roughly 10 weeks

[jaunty mason]

okay cool thanks

Can you also quickly explain Sushi LP? I staked just normal ILV but are there any benefits to sushi LP?

[versed elm]

Is staking recommended via flash pools or core pools? also what are the lockups like for the normal staking - also 12 months? Thank you ]

[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

[vital kayak]

You can find more land info on #🎮〕illuvium-zero

[versed elm]

!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

[versed elm]

thank you - I assume the yield is not fixed?

[final steppe]

Looking at the core pools, you’ll see the Sushi LP has a higher APY which would be the benefit. But you have to put in both ILV and ETH in equal $ amounts, you’d pay extra gas fees whenever you claim rewards and you’d have the risk of impermanent loss.

[last sedge]

So can I not take my sILV back to sushi swap and liquidate my sILV back into ILV + ETH?

[final steppe]

Correct. You will accumulate rewards at whatever the current APY is while your ILV is staked. It is expected to lower over time

[vital kayak]

Can’t put your fried eggs back into their shells 🙃

[vital kayak]

Hey quick question actually: is there a benefit APY wise to staking say 26 weeks vs 52 then if it lowers over time? Been meaning to ask

[final steppe]

Nope. sILV’s use is for in-game currency. ILV is what you’d swap for ETH… but after that 12 month vesting period.

[final steppe]

Hey! Yeah, definitely. The longer you lock your tokens for, the higher your token weight is in the pool, and the higher your APY will be during that period. While the APY will decrease over time for all locking periods, your APY will begin higher when locking at 52 weeks vs 26 weeks

[vital kayak]

Ok just was wondering considering the 2% loss. I noticed other day that Illuvium youtuber Seatin is 100% in SLP 52 weeks with $35,000 worth invested

[junior shuttle]

in #🔗〕helpful-links It is one of the articles. But it is pretty easy.

You log into your wallet (MM or through MM). Connect it to illuvium.io website and click "claim" on whichever pool you are in.

Yes.

Np. If you are in the SLP pool and have ILV in the other pool, it will be 2 transactions.

[tidal jungle]

with the core pool staking, im not sure why i can go into the ilv one but not the sushi lp? even though my wallet is linked

[junior shuttle]

You have the LP token in your wallet?

[tidal jungle]

i have ilv

[junior shuttle]

then you missed a step. You need to get the LP token from sushiswap. And stake that in the pool.

[tidal jungle]

oh no, is that gonna mean that ill have way more taxes

[junior shuttle]

I have no idea. Im not a world wide tax man.

[tidal jungle]

im a bit confused, i got eth, and then used sushi swap to get ILV, but i want to stake in the sushi LP pool, im looking on sushiswap now but i cant find an LP coin?

[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

[junior shuttle]

Look above.

you need equal parts ETH and ILV to get the LP token. Rest is pretty straight forward.

[tidal jungle]

oh, i did the swap function instead of liquidity

should i swap ilv tokens back to eth, and then use liquidity ?

[junior shuttle]

You need to get enough eth back to be equal your ilv (in dollar terms) + gas fee

[austere cliff]

When u key ur ILV tokens into the Swap page, it will show u how much ETH u require to get the SLP based on your ILV amount u have now. Don't be a fool like me and put into ILV portion and not add ETH into the swap. U will end up with nothing but just wasting gas fees.

[tidal jungle]

i can see ilv + eth on the liquidity page, but the amounts are the same im pretty sure from when i converted 0.2eth to 1.3ilv

[junior shuttle]

What is the issue then?

[grizzled kindle]

hey there im having some issues trying to withdraw my slp and each time it makes me take my rewards and not actually take my slp out any help would be much appreciated

[tidal jungle]

do i click the approve ilv button ? i dont think i have enough eth sitting for gas fees...

[mint cave]

you have to claim your rewards before you unstake

[mint cave]

the first transaction will be to claim the rewards, the 2nd will be to unstake

[grizzled kindle]

alright ill give it a try

[mint cave]

i suggest watching this video to help you with the SLP staking

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

[warm plover]

hi if i claim my reward stake in form of silv to use for in game, will it still cost a gas fee?

[mint cave]

yes

[unique yarrow]

Can I stake using a trezor or is it only with a ledger?

[bronze heart]

Are most people doing 12month locked since this games not going to be out for a while?

[tepid silo]

Hi guys im interested in investing 500usd into the core pool staking is it worth it?

[cunning perch]

Hey. Well that's your decision, but whatever you do, be mindful of Gas. It's not as low as it used to be. You don't want to end up spending more than you wanna stake.

[tepid silo]

yes that is what i was concern about

[dapper moth]

its like 50 bucks in gas plus fees

[cunning perch]

you can use MM as a bridge and stake either with Ledger or Trezor

[brisk surge]

Usually gas fees r lower on sundays fyi

[unique yarrow]

Cool thank you

[tepid silo]

im staying in singapore so what might be my local timing?

[cunning perch]

It doesn't mean it's def low on Weekends. It's just a probability.

[tepid silo]

is it better to swap my eth to ilv ob metamask or sushiswap

[rain halo]

How does it work if I stake SLP in two lots at different times? I'm assuming they are not bundled and treated separately?

[cunning perch]

yes they will be treated seperately, but compound nonetheless. you can lock each however long you like

[rain halo]

Perfect thanks

[cunning perch]

No worries. you can add how many ever times you wish.

[rain halo]

If I wager that ILV will increase by more than eth I'm assuming its smarter to stake ILV than SLP because of IL right? so many acronyms lol

[cunning perch]

well it's not a matter of intelligence really. You know yourself better that eveyone else. You have to understand as ILV pumps harder, you will be facing IL more. If you can accept the risk, you will be compensated by the rewards, if not, then single pool is better. you have to decide

[rain halo]

Now I have to do maths comparing APY and IL :/

[neon pecan]

If I stake in ILV vs ILV/ETH 50/50 do the rewards change?

[cunning perch]

no. you get rewards based on your rewards in either pools. you can be in both or either pools. One gets more than the other and compound in the single pool

[neon pecan]

Ok thanks, one more question. If I stake for 1 year and then claim, do I then wait another year for the Rewards? Appreciate the help xx

[cunning perch]

yeah. the rewards will start vesting (getting unlocked) AFTER one year AFTER claiming. So you'd better claim regularly if you want them released. Then you can either leave them there, or withdraw.

[neon pecan]

I see... but you don't need to re-stake, you can simply claim without pulling out?

[cunning perch]

yeah. there are no re-staking. After claiming they will compound.

[neon pecan]

Roger that, many thanks! I'd say ill have more questions later

[cunning perch]

you can ask whatever questions you have and we'll be here for you. 🙂

[neon pecan]

@cunning perch Your a king, DM'd you 🏆

[tepid silo]

buy ilv from gateio or sushiswap??

[cunning perch]

haha thx bro. ok ok 🙂

[cunning perch]

Best is Sushi. You can buy from Gate.io as well if it suits you. If you wanna stake, then you need to have it in your wallet either way

[tepid silo]

which is more cost effective

[cunning perch]

1. you buy from gate with lowe fees. If you wanna stake, you have to send it to MM (pay fees), stake it (pay fees). 2) you buy it from Sushi (pay fees) and stake it (pay fees). you might wanna have to pay more fees for approval either way. Though you don't need to pay fees if swapping ETH for ILV on sushi.

[tepid silo]

which would you recommend if i wanna invest about 500usd

[cunning perch]

it really doesn't matter tbh. U have to do whichever makes sense to you. I myself buy ETH from Binance and send it to MM and do the swapping in Sushi. Never used Gate.io, but many do.

[tepid silo]

alright understood TY:D

[tepid silo]

i thought swapping need to pay fees too?

[cunning perch]

yes it does. any transaction requires a smart contract and all smart contracts need gas

[tepid silo]

what do you mean as Though you don't need to pay fees if swapping ETH for ILV on sushi.

[cunning perch]

ETH does not require approval (**additional **Gas). Swapping USDC for example, requires 1 gas for approval and 1 gas for swapping

[tepid silo]

hmmm i see

[deep mantle]

What if someone stakes 0.1 ilv?😂Worth it?

[cunning perch]

The gas is not justifiable for that really

[solar river]

I was thinking about putting 1 illuvium into the illuvium sushi LP pool but I'm not sure how the return works for this pool. Does it depend on how many people put into this pool? For instance, can I get an estimation on how much Illuvium I will get back after lets say 1 month?

[cunning perch]

estimation is difficult as more ppl join the prices drops, also LP depends on the price of both tokens and IL that takes place.

[solar river]

If I stake, I could always take out correct? I'm thinking staking is a no brainer if I'm going to buy ILV anyways since theres a chance I could earn a good amount back.

[cunning perch]

if you stake in Core Pools and lock your tokens for more weight, u cannot unstake unless the locking period is over. Regardless of that, all the rewards will be subject to a one-year lock AFTER claiming

[timid jewel]

If you stake for the ingame currency can you withdraw them?

[deep mantle]

What's the total fees like buying and then staking

[solar river]

Ohh okay so my ILV is still liquid but my rewards are locked while staking correct?

[cunning perch]

!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.

[cunning perch]

It varies greatly. Not fixed. Based in Gas

[cunning perch]

If you lock your ILV in core pools, all will be locked. If you stake in flexible pool, you ILV is unlocked, but rewards will still b locked after claiming

[fallen kettle]

Hey guys, what should the slippage and time be for purchasing ILV in sushi?

[deep mantle]

We can get silv even if we don't stake right?

[manic spindle]

No. Not unless someone would create a pool on an exchange and you buy it there 🙂

!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.

[normal blaze]

19 gwei last night when claiming rewards, thought to myself, that’s not too bloody bad .

[deep mantle]

So staking is good if you want to invest money in the game

[manic spindle]

!ilv Correct. What is important to remember is, that no ILV or sILV is needed for gameplay. ILV cannot be used at all and sILV can only be used as a substitute for something that easily can be paid with the main currency ETH as well.

[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

[fallen kettle]

Is there a setting I need to adjust in order to buy ILV, have been rejected 4 times. It says "fail with error uniswap v2 router expired?

[manic spindle]

!buy Don't buy on UniSwap.

[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

[fallen kettle]

Yeah I've been trying to buy it through sushi swap, via trustwallet. I've got the token ticked so I can store it. Not sure what's happening?

[regal marten]

Metamask takes a 0.8% fee.

[fallen kettle]

Is that good or bad? Because that's tiny compared to the eth fee on sushi swap. Haven't had it lower than 30 gwei all day :(

[regal marten]

i wanted to say that metamask takes a 0.8% fee on top of the gas fee.

[fallen kettle]

Ouch! Tho I'd assume trustwallet prob would too?

[regal marten]

That's a good question, not sure about that..

but at the moment gas fees are pretty high, it's better to wait until they cool down a bit.

[fallen kettle]

Now I'm assuming there will be nasty eth fees sending my eth and usdt to metamask from trustwallet?

Yeah I was trying to get ILV at the lower price today, but haven't been able to complete the transaction.

[abstract comet]

to be clear, the 0.875% fee is if you use metamask's swap. Even if you're using metamask wallet, you don't need to use its swap.

[normal blaze]

I bought mine off gate.io

[abstract comet]

are your metamask and trust wallet addresses different?

[regal marten]

Here's a site where you can see what transactions should cost at current gas prices. https://www.gasnow.org/

[fallen kettle]

I'll check

[manic spindle]

Please keep the conversation in here related to staking. Buying ILV (or having problems with it) is more something for #❓❗〕community-help or #💰〕token thanks 🙂

!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

[swift belfry]

If we want to stake in the SLP pool. How do we get the SLP to stake? Is it the 'add liquidity' button in Sushi Swap? Want to make sure i'm doing it right...

[manic spindle]

!lp There is a detailed staking video pinned in this channel that goes through the entire process 🙂 Also:

[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

[swift belfry]

Thanks i'll take a look

[dusk fog]

What would be the reason of the APY going up or down in the SLP pool except for the Fortnightly decreases?

[wanton nova]

more people staking in that pool

a fixed amount of ILV is distributed to the people in that pool. More TVL = less reward / ILV

[dusk fog]

And is there any chance the APY could go higher apart from people unstaking?

[wanton nova]

I don't think so but I don't know about the exact formula

The RevDis rewards will accumulate and will be claimable whenever one thinks that the gas is worth it, right? Will it be possible to implement something similar for vesting? Say I claim rewards today and tomorrow. 0.5 ILV each. It would be great if, after 367 days, I could claim 1 ILV with one single transaction.

[dusk fog]

Alright, thanks

[tepid silo]

Hmm so what would you recommend

[wanton nova]

I just realised that its not as easy as More TVL = less reward per ILV because this doesn't account for token weight. Theorhetically a higher TVL with lower avarage token weight could have a higher APY%.

[dusk fog]

Yeah right

[gloomy gazelle]

APY also varies because of the difference and changes in token price between SLP token (what is staked) and ILV token (how rewards are paid).

[brisk surge]

can i claim ILV and then stake it for 12 months+ again instantly ?

[hazy token]

Your claims are vested for 12 months from the date you claim them

you will then see them added to your ILV stake in dashboard

[cunning perch]

ILV rewards will compound to your original stake after claiming.

[brisk surge]

sorry what does vested or vesting mean, added to my ILV stake means once i claim it will be added to the 82% pool ?

[cunning perch]

vest = one-year locked and yeah...it'll move to the ILV pool with teh lower APY

[brisk surge]

but without getting profits from it extra ? ah ok

[cunning perch]

when you claim, it already compounds to your original stake and generates more rewards

2X weight generates more rewards

[brisk surge]

so it makes sense to claim ILV at a certain amount in order to get more return on it, still if it says 100 apy, if i claim 10 ILV and it goes into the 82% pool, lets imagine it stays for that next 12 months... i will get a 8.2ILV bonus because i claimed early?

[cunning perch]

one reason that claiming is manual is for everyone to save gas. So it's pretty much a personal choice. I always claim at a round number. cuz I like it lol 😄

You can check the pinned messages if you wanna use formula for claiming. It's not precise, but might be helpful

[brisk surge]

great, when can we expect land sale ? i wanna save some SILV up before 😄

[cunning perch]

it's been said 10-12 weeks. Gotta gave to wait for the exact date

[teal rain]

I just tried to restake my Flexible SLP to Locked SLP in the Illuvium pool. Guess what, they restake all the tiny mini rewards too , gas fee at each $20USD ++ By the time it's the gas fee for my SLP , I have insufficient fund..

[wanton nova]

@cunning perch Do you know if this can/will be implemented?

[cunning perch]

The team knows about it. It's not an immediate issue as all rewards will start unlocking starting July 2022. So we'll have to wait and see

[wanton nova]

thanks a lot. Good to know that the team has it in mind 🙂

[cunning perch]

yeah It was my question even before staking started. So I made sure I had asked it 😄

[wanton nova]

And sure its not an immediate issue. When claimed rewards are free to vest gas fees might not be so high with ETH2.

[cunning perch]

probably so. By then you might pay a few bucks. But personally I wouldn't care. For me whatever is already in the website, will stay in the website. Not gonna withdraw to lose the weight and not gonna touch my stake, but I will keep on adding to it.

[wanton nova]

could you explain this in more detail? Or maybe give an example

ILV/ETH is now at ~ 0.15, what happens to APY if it goes to 0.2?

[queen horizon]

APY will go dwon over time because reward reduce every 2 weeks

[wanton nova]

I know but pelican said that changes in token price and SLP proportion also influence APY. I would like to know details about that

[gloomy gazelle]

All I know is that is now yield farming works. If either the input or the output tokens out perform the other than the apy changes.

I haven’t run the numbers. I can’t right now sorry.

I have observed that as ILV token price did about a 10x the APY ended up going up a bit for the SLP pool from as low as around 500% to more than %700 again. All while more people were entering the staking protocol. Granted this is just me watching the APY and watching the TVL in SLP pool go up. Again I did not run any numbers. But it’s what happened.

[wanton nova]

I'm tracking the apy and tvl change a bit. Might have to add the ILV/ETH ratio as well. thanks

[slow moss]

One thing i think it might have been good is to be able to add what you've earned so far in staking in your current staking pool without the need to withdraw and then put in staking pool agian.Saves a lot of gas fees especially if you haven't staked more than 1000$.
I mean to withdraw 100$ rewards the fees are 100$.And that's pretty damn stupid.I have a feeling that ILV shoud've launched on something different than ETH.......

[pliant whale]

No major change to current gas fees but burning ETH every transaction - this is BIG... https://ultrasound.money/

[brisk surge]

@nova violet https://app.sushi.com/add/ETH/0x767FE9EDC9E0dF98E07454847909b5E959D7ca0E

[gleaming steppe]

How can i claim rewards from just one pool (slp)? The default is to claim from all at once and when i cancel one transaction it doesn't seem to just progress on to the second. . . I think I've been able to just claim slp rewards in the past but can't find my way back to whatever ui i used.

[manic spindle]

ILV pool rewards can be separately. LP Pool rewards always require both pools to be claimed.

[regal marten]

Go to the sushiswap website directly, connect your metamask and swap there. Don't use the built-in metamask swap feature.

[gentle lily]

Hi guys ! I need some help ...
(im already srry for my average english)
So, i stacked some locked ILV, i had my ilv rewards all days.
Then i decided to restack some ILV, and click on "receive silv rewards"
Then i entered in the XYZ flash pool

What i see on my dashboard is that my ILV rewards for the XYZ flash pool are ok, my "old" rewards from my first stack seems disapear, and i got only silv rewards ...

srry for this looong message, but if someone can help, i'll really appreciate it 🙂

[manic spindle]

Well, if you choose sILV as your rewards and got them, then you claimed the rewards you had piled up so far. You don' get ILV AND sILV, you get ILV OR sILV 🙂

[gentle lily]

Oh, ok, can only have 1 type of rewards evend if i opened 2 differents stack ?

[gentle lily]

Annd to change my kind of rewards, i have to claim sILV and then i can change it to ILV rewards ? Or im fucked up ? ^^

[manic spindle]

Yes, it doesn't matter how many individual stakes you have in one pool. All rewards for one pool pile up together and when you claim your rewards you choose either sILV or ILV. That's it 🙂

[gentle lily]

Okkkkkk thank you and srry for my newbie questions ^^

[gentle lily]

but yeah what i earn for my first stake as ILV rewards seems disapear when i changed my kind of rewards i wanted in my 2nd stack (dat wasnt a lot but dat sucks xD)

[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.

[queen horizon]

yeah the more people stake the lower your share of total SLP, so if there are many new stakers AOZ goes own

[ripe abyss]

Hello. Is staking with ledger possible? Thanks

[cloud quiver]

Yes, with meta mask

[tepid silo]

Noted thanks for the help 😇👍

[wanton nova]

The Apy seems to be influenced by three things: 1) the total ilv given out. This decreases every 2 weeks by 3%. 2) the total value locked. These are the two mechanisms you mentioned. Thank you. But I was specifically interested in the third mechanism which pelican mentioned: 3) the ilv/eth ratio of the slp and the influence of token price variation.

[fair wharf]

Is there a difference between the staking rewards and revdis?

Or is it the same thing?

[manic spindle]

Yes. Basically there is Yield Farm rewards (3M being paid out over three years) and RevDis (paid out for as long as revenue is generated). Both only achievable via staking 🙂

!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

[queen horizon]

The ETH/ILV ratio doesnt have any impact. Important is the ratio of SLP of total staked SLP you have. Also 1) only affects the rewarded ILV as they go into the ILV vault, but it doesnt affect SLP APY. Of course it does affect your total APY as yield on top of your rewarded ILV is also yield, but thats a bit more complex to model

[wanton nova]

This is what pelican wrote (can only copy because I am on mobile) APY also varies because of the difference and changes in token price between SLP token (what is staked) and ILV token (how rewards are paid).

And I am tracking Apy and tlv and the apy is not just a function of tvl

[queen horizon]

yeah true thats also a factor

[wanton nova]

Also see what he wrote at 12:15

[wanton nova]

And I am only interested in getting to know more about this specific factor since I know about the other factors :)

[queen horizon]

okyeah i see. But i dont think the ETH/ILV ratio has any impact, as far as I can see

[wanton nova]

Would be great to see the formula from the team

[queen horizon]

yeah would be nice to see

[fair wharf]

After reading… once staked tokens are no longer locked and are left in liquidity (therefore still maintain increased token weight), can I withdraw them at any time? Put differently, will they maintain the increased token weight while being unlocked, giving me flexibility to choose when i want to withdraw?

[manic spindle]

Yes.

[queen horizon]

Yeah they still have the weight unsti withdrawal

[manic spindle]

Unlocked tokens keep their token weight bonus after unlocking until withdrawn 🙂

[fair wharf]

That flexibility sounds awesome!

[queen horizon]

just have to wait a year 😄

[manic spindle]

It is. If you withdraw them and want to re-stake though, then they need to be locked up once again for any token weight bonus.

[fair wharf]

I believe in this project so no worries 🌚

[queen horizon]

yes, thatas the spirit

[cyan wagon]

how do we know the ILV reward is from RevDis?

[manic spindle]

RevDis will have to be claimed just like Yield Farm rewards. They are unlocked though and don't have to vest for 12 months. No details how the UI workflow is going to look exactly just yet 🙂

[cyan wagon]

no locking period is so good !

[spiral summit]

Can we pull out sooner if we locked it for 52 weeks?

[brisk surge]

No it's a time-lock.

[spiral summit]

Ok I kinda figured , was just curious to see if you can but with a fee , thanks

[limpid garnet]

Hi guys I would like to ask how the many gas fee am I going to pay for staking

[silver nebula]

Are there gas fees on claiming the staking rewards?

Oh wait, I just tried, $130 to claim staking rewards....

[final steppe]

That all depends on when you are doing your purchase... and how many other people are transacting on the Ethereum network at that time. Gas fees will always vary. During "low traffic" times as of late, gas fees can get down to $20-$30. But can also sky rocket if a lot of people are trading on the network!

[final steppe]

Ah, yup! Gas fees every time you claim. So try to wait for the rewards to accumulate to a point where you feel it's worth it to claim with the gas fee (see my message above)

[silver nebula]

And once it is there, I just hit claim ILV and then it starts generating rewards while vesting?

[final steppe]

Correct. Once you click Claim ILV and that transaction completes, that amount of ILV you claimed is then vested in the ILV pool with a token weight of 2, earning rewards for 12 months 🙂

[silver nebula]

KK, assume this is valid even if I generated the rewards from the liquidity pool (or flash pool)?

[final steppe]

Yeah, you got it! Rewards claimed as ILV from any pool will be vested in the ILV pool and locked for 12 months, compounding rewards.

[silver nebula]

Champion, thanks for your help

[upper panther]

Correct me if im wrong but claiming SILV does not remove the innate value of the ILV that you have staked correct?

[fading prawn]

Sorry trying to wrap my head around this process...........Let's say I stake 10 ILV - then I'll start getting Rewards that I have to manually "vest" let's say every month to save on Gas fees. Now those Rewards that I just vested have to stay in 12 months also?
So my ultimate question is.....If I vest these Rewards every month - each time they will lock up 12 months? So after the 12 months is done - every month after that, it'll unlock my rewards?

[cyan wagon]

yes bro

it will become your monthly income 12 months after each monthly claim....

[fading prawn]

Thanks man. Def a fan of locking up ILV for 1 year and compounding those rewards. Just wasn't sure if I had to vest whatever has been accrued every month.

[hazy token]

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

[manic spindle]

What do you mean by "innate value"? Claiming sILV means you claim your rewards as sILV instead of ILV. It has no impact on your initial deposit 🙂

!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.

[limpid garnet]

So which staking are you guys on, idk which to go ilv or liquidity pool

Many say liquidity pool is risky which I may get loss in the end, how come, because of gass fee is expensive ?

[manic spindle]

!lp

[woven ibex]

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

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

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

[kind loom]

Yea, you can end up losing with the sushi LP because of IL (impermanent loss) also because of gas fee which are more expensive with LP since you have to claim both pools.

[limpid garnet]

I see, which pool are doing ? Or you just do both

[kind loom]

I did both. IMO, if you have over 5k to put in this project and you want to invest for the long term, LP is definitely a good choice. NFA.

[cyan wagon]

for example...If u put usd 5k into the SLP pool, u will get roughly (more than usd 100 worth of ILV /day)....provided the APR 640%

locked for 1 year period.

rough estimation, NFA

[kind loom]

Yep, that's pretty solid.

[cyan wagon]

2 months to break even.

[limpid garnet]

Lol definitely not that much, probably will invest 500 on it, but just don’t know which to go too many choices in ilv, lp, flash pool

Btw still Thankyou so much for your breakdown

[kind loom]

Ilv only would be a nice option then, definitely cheaper and would result in more net gains for you. On a short timeline at least.

[upper panther]

ahh i see so the "rewards" at the end of my 12 months staking period would be the ILV + APR - sILV claimed correct

[limpid garnet]

Sure 🤙

[manic spindle]

Every time you claim rewards from a pool you decide if those are claimed as ILV or sILV. The longer you wait between claims, the more rewards pile up and are claimed as one or the other 🙂

[granite glade]

Say you claim into sILV and then later can you convert that to ILV?

[cunning perch]

nope. It's a one-way street

[brisk surge]

No, sILV is only used in game

[upper panther]

Ahh gotcha thanks!

[red hollow]

Which wallet app is recommended for staking and what not. I currently have trust wallet. But if there is a better one to use for illuvium I’d rather get that

[ember ginkgo]

Metamask

[fallen kettle]

So from staking, and in game play, at no point are we generating a token that we can trade for eth?

[queen egret]

XYZ swapping for ETH on SushiSwap.... The gas fee is almost 3 times more than the amount of ETH I am trying to swap to stake in the flash pool 😂

[fallen kettle]

Because we need eth for fees, Liv arena, and one other thing in game?

[fallen kettle]

Fees are horrific at the moment :(

[fallen kettle]

Metamask is easiest.

I think around $40

[meager prairie]

Thinking security mindset. If using meta mask account for staking, should I create a new metamask account to use with illuvium or my existing one with all other crypto/nfts on it. Any suggestions/thoughts out there?

[indigo bridge]

Hey guys quick question, I currently have 10 ilv staked in the core pool at flexible during 46% apy. I bought 2 more ilv and want to stake more at the current 41% apy, when I try to stake it tells me I have to claim first, if I stake the 2 ilv then does that mean my new adjusted apy is 41% for my total ilv or is each stake seperate from each other

[manic spindle]

You need to understand that APY is not locked. It is dynamic. So your initially staked 10 ILV only get 41% APY now as well if that's the current value 🙂

[indigo bridge]

Ah okay does the same apply for locked?

Thank you for the reply stormi

[manic spindle]

Yes, APY is dynamic regardless of locked or not. Locked only means that your token weight is higher and you get a bonus multiplier for your rewards 🙂

[foggy forge]

Hi All just got a q about staking and the 12 month vesting...

1. What is the return on this?
2. I heard I get currency $sILV that can be used for ingame transactions? Is this currency available to redeem even though it hasnt been a year?

[manic jacinth]

I did staked with trust wallet and not faced any issue..

Through wallet connect you can connect trust wallet

[brisk surge]

Hi! What token do i need to stake in the Illuvium sushi LP pool? My wallet is only connecting to the ILV pool...

[ruby wing]

!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.

[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

[ruby wing]

You need 1:1 ETH and ILV

See pinned tutorial :))

[foggy forge]

Thanks!

[brisk surge]

Thanks haha

[foggy forge]

Just to clarify, my understanding is that if u lock for 12months u have the option to get $sILV instead EQUAL to the amount that you would get in $ILV if otherwise locked, and you're free to claim the $sILV whenever u want?

[ruby wing]

There is no vesting period for sILV yes

But sILV also doesnt compound when claimed

[foggy forge]

If u claim sILV, are u stil lable to claim some ILV later or is it one or the other

[ruby wing]

So there is a tradeoff

[ruby wing]

Every time you claim you choose

[weak lagoon]

I used trust wallet/wallet connect myself, but wish I would have set it up on a metamask. Just was too lazy to move the funds lol. But MM seems better for the desktop version imo.

Edit: With that said, I really haven't had any issues with Trust.

[foggy forge]

Ahh I see okay, how often can you claim?
Im thinking of locking for 12 months and compounding til game release, after game is released maybe claiming some $sILV, does that work?

[wind walrus]

As often as the gas fee is worth it to you

[brisk surge]

Can SIlv be traded back to ILV or ETH?

[ruby wing]

Not at the moment

[brisk surge]

Thks!

[clear cape]

Does this mean this might be in the works ?

[ruby wing]

No, the team will not create a market for sILV, but someone in the community likely would to gain liquidity

[short turret]

Will the ILV/ETH pool decrease at incremental %s as well as decrease as more $/tokens are invested into it?

[wind walrus]

Yes 3% every two weeks

Plus as more tokens are added

[short turret]

How many $ILV should be staked to make the Sushi pool worth it?

Like for ease of quick math, if I had 10 tokens what would the monthly yield of each pool be rn

[wind walrus]

Only you can decide that. Depends on length of lock and if you need liquidity in your portfolio.

[wind walrus]

What would you lock at 12 months or flex?

[clear cape]

purely depends on u dude, on ur situation, how much faith u have in the project, ur amount of capital etc..

[elder dawn]

and what percent of your investment you're willing to commit to gas fees

[short turret]

Yeah i guess my first question was more of a statement than a question. I understand the locking and weighting and gas fees impacting the frequency of claiming rewards

Just easy math. 10 tokens locked for 12months in ILV only pool vs ILV/ETH pool. Let's say once a month claim the rewards to keep compounding

[clear cape]

I should be able to send my siLV to someone else right if i wanted to ?

[ruby wing]

Yes

[clear cape]

Lol sweet, ill run my own private scholarship program on the side making people grind for me prob

[ruby wing]

It will happen organically, wouldnt call it scholarship

Id call it more sponsorship

[clear cape]

yeah u get my concept, whatever term to use haha. is the team expecting the community to build a system like that too or would it be more private?

[ruby wing]

Itll be community created, the team wont encourage scholarships and there isnt a real need for them

[wind walrus]

I have 4 ILV plus matching ETH staked in SLP. I'm getting .14 ILV per day

[clear cape]

yep i definitely heard the latter part before. but was wondering if they were expecting the community to do something like that anyways

[ruby wing]

I anticipate itll be short term with sILV

Which is in our interest anyway because Less ILV in circ

[clear cape]

Yeah a part of all this is no one knows what is actually going to end up with the market economy etc, exciting stuff

[meager prairie]

@wind walrus is that with a 12 month lock???

[wind walrus]

Yes

[clear cape]

So for every 1 sILV claimed, that will be 1 ILV never minted, meaning that will be 1 ILV less than the 10 million in supply that will ever be circulated. is that correct?

If that's the case, that is going to be crazy for ILV supply. I doubt anyone who isnt deep in the project will know this ,so when people talk about the 10milly supply, they wont take into conisderation all the sILV that will be claimed as well.

[wind walrus]

Correct

[ruby wing]

I think alot of ppl know actually

Anyone who read the tokenomics should

[brisk surge]

Gas fees are crazy right now...

[ruby wing]

(Which should be everyone)

😤

[ruby wing]

Yes just chill

[wind walrus]

People read? Not from what I have seen in chat :)

[meager prairie]

@wind walrus thank you... I've been learning as much as I can and have been slow to pull the trigger. I think I've finally learned enough and am ready to dive in. Thank you for that final push

[clear cape]

By that i mean more like people who see the project from the outside..although you are correct its common knowledge, on the wider spectrum i think people might be a lot less aware than you may think. which is natural because when you are in ILV server everyday and a mod, i think your perception may be slightly different

[ruby wing]

No one does, im joking

[cyan rampart]

NFT minting drives gas prices WAY up. When bigger projects are being minted and purchased, it's best to just wait. We're at 90 gas right now, it's best to wait for 20-30 gas.

[clear cape]

Either way doesnt fucking matter, just more good news as ILV holders lol

[ruby wing]

Ya ik ik i was trolling

I want more ILV.

[wind walrus]

Life goals.

[ruby wing]

All I want in life is more

[gusty magnet]

Het guys, if I clam sILV i'll be able to use in game later on, but it won't compound in the stake, right? Only the ILV claim will be locked for 12months and therefore, staked

[elder dawn]

correct

[wind walrus]

Correct

[gusty magnet]

double thanks

[primal gale]

Hi everyone, I’m new here. Just have a quick question - are the rewards still pending for xyz flash pool?

[mint cave]

what do you mean?

[short turret]

Fair to say ILV pool will progressively drop from 80% to 0% over the next 34 months. Even if it decreased at a rate of 2.5% month over month, 10 tokens locked for 12 months, with rewards claimed once every 4 weeks, should pull somewhere around 9.052 $ILV year 1, 8.170 $ILV year 2, and 2.107 $ILV year 3. Essentially 19.329 tokens claimed in rewards throughout the remainder of the yield farming period.

Or is a larger decrease in the APY expected month-over-month

[primal gale]

i thought the flash pool is already finished

[wind walrus]

The SLP pool will drop 6% per month not including more coins added to the pool

[mint cave]

the XYZ flash pool started very recently!

[ruby wing]

Its a new one

[primal gale]

how long do they usually go for?

[mint cave]

14 days

you can see the exact end block here:

https://staking.illuvium.io/staking/0x4C6997D462b0146fA54b747065411C1Ba0248595/analytics

[primal gale]

Got it. Thanks man.

[short turret]

@wind walrus Oh wow, so if it's going to drop 6%+ monthly is the yield farming expected to be done within the next year? I thought it was expected to go throughout the next few years

[wind walrus]

6% per month is only 72% per 12 months.

[short turret]

so 14 months from the current 82% rate posted..?

[mint cave]

i think you guys are misunderstanding how % decreases work

[short turret]

I think I am too lol @mint cave

[wind walrus]

No. I was referring to the SLP pool. Not ILV pool. Sorry for the confusion

[indigo bridge]

Omgod these gas prices are insane right now

[ruby wing]

Just wait

[indigo bridge]

Is there a golden hour for gas prices?

[ruby wing]

There should be a chart pinned somewhere. Weekends are good

[noble coral]

how would you stake the pool token version????

alright thanks

[primal linden]

Hi guys, i have some ILV to claim, i see it gives me the option to claim ILV or sILV, it says ILV have a 12 vesting period but in that time they get compounded, to activate this period of vesting and the compound, do i need to claim first?

[mint cave]

every 2 weeks the current supply is reduced by 3% of the prior week right?

so it isn't a flat subtraction of 3%

It's a multiplication of 0.97

[ruby wing]

Yes

[primal linden]

Thanks

[ruby wing]

Only claim if u have like 10+ ILV at these gas prices

1 ILV per 1 Dollar of gas

[indigo bridge]

Gotcha, thanks for the tip!

[short turret]

Haha yeah that totally makes sense, went right over my head. Thanks

[mint cave]

yield looks like this

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

[digital marsh]

Reading from the conversations above in mind of staking. ILV has better store value overtime. sILV will hold less value overtime even though it has higher APY.

Mostly because there is a limited amount of ILV that can be minted?

[ornate cypress]

Silv is pegged to ilv 1 to 1

[celest pike]

my stake weight is less than 2% on the xyz 🥲 guess im leaving gonna leave there forever then

[digital marsh]

What is stake weight o.o I am in the same boat of less than 2% lol

[hushed karma]

hi guys, does anyone have a manual compounding calculator for eth-ilv lp staking?

[ruby wing]

Pinned

[hushed karma]

sorry! I can't find the link in the pinned 😦

[ruby wing]

It should be in pinned, there are 2 spreadsheets

[stable linden]

Feels really good to firstly learn about staking, then making a plan and executing on said plan and see it working. Thank you discord community for the consistent nuggets of wisdom and guidance. Plus the Illuvium website is just 👌👌👌 for first timers. 💛

[ruby wing]

Facts such a great skin

The balancer skin was great too

[unreal storm]

help!

[brisk surge]

what is your question @unreal storm ?

[unreal storm]

I am trying to stake and I am so confused about the Sushi part

I got my metamask setup but how do I buy the ILV? Once I stake it and lock it in does that mean I can no longer contribute? Should I have a diffrent wallet?

I just joined yesterdayish

[brisk surge]

@unreal storm So to buy ILV you want to either swap ETH on sushiswap or on 1inch

[unreal storm]

Ok I have sushiswap but it wants my passphrase and I am scared.

[brisk surge]

!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

[hushed karma]

can't find it 😦 would be great if you can help me retriever it and drop the link here please! thnk you!

[brisk surge]

You never give out your passphrase I'm not sure what you are doing but that isn't right

[clear cape]

R u going to be covering ILV when it releases on your YT?

[unreal storm]

THANK YOU!! that's what I thought!

[ruby wing]

!scam

[woven ibex]

This is a reminder to never give out your private key (12 to 24 word seed phrase) to anyone.
Nobody in the team will ever ask you to send ETH. There has been increasing activity of DMs in this Discord related to scams and fake giveaways.

Any giveaways/promotions will be announced on official channels. Not in Discord DMs. #🚨❗〕report-scammers in the linked section with a screenshot of the message you got in DM's. Also include the "@ username" in text and we will ban them. We are growing fast and there are targeted scams going around. Only trust links from official channels.

[brisk surge]

Yea 100% never do that always make sure you are using the right contract shown above and never trust information outside of official information.

[ruby wing]

@unreal storm #🚨❗〕report-scammers if you found one

[unreal storm]

It was called Sushi Swap

[stable linden]

I'll be focusing more on the game side on my second channel but I'll give information on all aspects (not financial advice) of the Illuvium website

[brisk surge]

Use https://app.sushi.com/swap?inputCurrency=ETH&outputCurrency=0x767fe9edc9e0df98e07454847909b5e959d7ca0e

[unreal storm]

when I launch the app is says SushiSwap

[brisk surge]

Is it on sushi.com?

[unreal storm]

It's on my phone.

[hushed karma]

does anyone have the spreadsheet link for the manual compounding stake calculator

[unreal storm]

I am going to follow the instructions I was just given. Thank you!!

[dense relic]

wait...do you mean...it's asking for you to confirm on your wallet? like on your phone? As in like...the 2FA

[brisk surge]

https://cooper1903.shinyapps.io/stakingyield/

[unreal storm]

Yeah I am new to the swapping and it's a bit intimidating heh

[ruby wing]

There is a pinned tutorial :))

[hushed karma]

https://analytics.sushi.com/pairs/0x6a091a3406E0073C3CD6340122143009aDac0EDa

[ruby wing]

Goes over legit almost everything for staking

[ruby wing]

Link is safe

[unreal storm]

I wanna get in before it's to late! What's a good amount to invest for a poor person?

[hushed karma]

is this the link you are referring to? what im looking for is when i should claim my rewards though. doesn't say in this link

[ruby wing]

Since you dont need ILV to play the game. Id say if you have under 250$ to invest probs best stacking eth

[unreal storm]

Ok thank you. 😉

[hushed karma]

ahhh i cant find the spreadsheet. Could you help me get the link pretty please

[ruby wing]

Gas fees are important! So if you have under 1K you really need to choose wisely

Also wait for gas to decline before swapping

[brisk surge]

check the link I posted not a spreadsheet but gives you same information

[hushed karma]

thank you! on another note, if i stake my ILV rewards and lock it for 52 weeks, I still get sILV tokens as a replacement for the ILV for me to play the game right?

[manic spindle]

!claim 🙂

[woven ibex]

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

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

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

[wanton nova]

I created a little app to play around with claiming frequencys and gas prices and see how it influences your overall yield: https://cooper1903.shinyapps.io/stakingyield/

Also the user Deraji#0798 did something similar in a nice google doc: https://docs.google.com/spreadsheets/d/1gj_tPlLzAdeReC0Ne9BcxKN2OJ6xK1nl-9JJ2YW0WWI/edit?usp=sharing

[brisk surge]

Thank you!

Is there a way to know how much ILV we have in the SLP? I've long forgotten

[brisk surge]

Yes go ahead and use https://zerion.io with your wallet address and go back to the day you added liquidity for your SLP

Oh groovy. Thank you

[hushed karma]

tq so much

[potent flare]

to stake in the flash pool, will it require to claim current rewards?

[wind walrus]

ETH will be required

[short turret]

@mint cave @wind walrus so assuming 3% natural decrease and lets say a 3% decrease due to more people staking every two weeks. Quick math of 10 tokens at roughly today's value,locked for 12 months, would compound to something like this (month's rewards claimed every 30 days)? Any other factors not being factored in or math look wrong? Any and all help appreciated

[brisk surge]

what does it mean: rewards full term ... does that meanstaking is only available for 3 years?

[wanton nova]

I did not create the Google doc. But as far as I know yield farming rewards will be given out for 3 years

[eager rover]

I think you are looking into this way too far.

[brisk surge]

how about the ingame rewards ? i heard that all ingame reward go back to stakers, wouldnt that be for life time?

[eager rover]

I glanced at the chart you made it looks good lol. Very neat

[short turret]

Was checking your link out @wanton nova, feel like we came up with somewhat close estimates

[wanton nova]

Looks good to me. One thing I thought about today was that ilv pool Apy might decrease faster because all those rewards claimed from slp pool go into Ilv pool

[eager rover]

ingame rewards probably indefinite. It is kind of hard to predict where we are at 3 years from now. The rewards planned is 1M ILV but nothing other than that is fleshed out.

[unreal storm]

Woohoooo Thx for all your help. It seems so complicated but the steps need to be redone for Newbies. I am just waiting for the money to clear and I am going to stake!! Yeeee yeeeee!!

[elder dawn]

@short turret I built something similar for both SLP and ILV to try to estimate it. I also applied a 3% increase volume on the ILV and a 2% on the SLP in addition to 3% decay in rewards. it's not perfect, so would love feedback. most of the math is hidden, but feel free to make a copy and check it out. https://docs.google.com/spreadsheets/d/1gj_tPlLzAdeReC0Ne9BcxKN2OJ6xK1nl-9JJ2YW0WWI/edit#gid=259609908

[wanton nova]

Deraji I did something similar but graphically. I posted it a few minutes ago together with your Google sheet and your name.mentioned. It got pinned. Hope you are OK with it?!

[elder dawn]

totally! sorry, working the real job today so only checking this periodically. this channel is addictive

[clear cape]

It's good you mentioned Deraji too, he does a lot for this channel and helping people from what i have seen 💯

[elder dawn]

i also appreciate seeing others thinking deeply about this, and not just asking what APY is. This serious money for some folks. and thanks @clear cape that means a lot. I'm enjoying this group and happy to help.