🥩〕staking

[wanton nova]

wouldnt claim it as my own work. But I think both tools work well together and complement each other.

[short turret]

This is what I got with the same math applied to the ILV/ETH pool with 5 ILV and equivalent in ETH. @elder dawn I'll take a look at it, just trying to work through it all myself lol

The main thing I don't feel confident on is the additional APY draw down from more people staking like y'all mentioned. Added an additional 3% on the ILV pool and 6% on the SLP pool, but those are just guesses at this point

[wanton nova]

Its all just guesses and will always be. cant predict apy, cant predict price, cant predict gas fees

[wind walrus]

Only thing missing is collecting rewards and the rewards compounding

[elder dawn]

pretty sure i'll get to check my math in July 2024. fingers crossed we're somewhere near correct

[clear cape]

how do i know how many ILV i have staked in my slp pool, i only know my slp number/usd equiv

[short turret]

Every two 2 week segment rewards are added up and added to the beginning of the following moth @wind walrus

[wind walrus]

Gotcha

[wanton nova]

sure afterwards we can say if it was correct or not but right now its just guesses. we know that APY changes by 3% due to fewer rewards given out but the % decrease due to more people staking can be 1% this month and 10% when revdis is out. noone knows and we'll see. Still these tools are cool to play around and see how everything is connected

I, for example, learned that when staking just ~ 3 ILV it is not so important to claim every 2 weeks or something. might even be beneficial to wait for 4 weeks

[short turret]

Exactly the reason behind doing all the work. If you're thinking Illuvium has the potential to reach Axie Infinity's current Market Cap and/or surpass it in the years to come, then a decent chunk of change today properly staked could be life-changing money 3+ years from now imo

[elder dawn]

if nothing else, its fun to dream.

[clear cape]

any1 know how to do this btw (so i can try cooper's method)

[brisk surge]

How to do this? Have free ilv, to play game?

[clear cape]

is it just my usd value/2, then divided by ILV current token price maybe?

[clear cape]

Yes, only people who truly understand how OP ilv staking rate, compounding and rediv, as well as token appreciation can truly grasp this opportunity.

[short turret]

Yeah I will probably only be claiming the rewards once a month, just needed to break it down to 2week increments to apply the changing APY. Can't wait until the founders release their OG calculators/projections to be able to see how far off/above we all were lol

[wanton nova]

you can just use your initially used ILV, or use this app https://app.apy.vision/

or see the actual composition of SLP here: https://etherscan.io/token/0x6a091a3406e0073c3cd6340122143009adac0eda

[clear cape]

cheers cooper ❤️

[elder dawn]

just playing around, i think i have the math behind it - you can get the SLP price by dividing your current value by your number of SLP, both available on the dashboard. then, you will get half of that in ETH, and half in ILV. I don't have my wallet attached, so I can't confirm the exact number right now, but this should be close. SLP = $2642, meaning for each SLP, you have $1321 in ETH and $1321 in ILV. At $3334 ETH and $503 ILV, that gives you 0.394 ETH and 2.626 ILV per SLP you own if you were to cash out today

[brisk surge]

How to receive ilv?

[short turret]

The further I get into the game/community/research/numbers the more confident I am in the long term future of the project. (1) Staking/compounding/rediv/token appreciation; (2) Gameplay/Illuvidex/potential appreciation of Gen1 Illuvials on the market; (3) Illuvium: Zero and the economics there.. All of it is very exciting

[ruby wing]

!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

[ruby wing]

!earn

[woven ibex]

In Illuvium there will be several options to P2E:

• sell captured Illuvials
• sell farmed materials
• sell crafted items
• play the marketplace (buy low, sell high)
• wager on battles in the Leviathan Arena
• earn some of the 1 Million ILV set aside for in-game rewards
• …

BUT, while the game will be free to play, in order to participate in the earning part of the economy, a bit of money needs to be invested. A full cycle of travelling, curing shards, etc. is currently estimated to be around $50 (this can still change).

[ruby wing]

!yf

[woven ibex]

You can yield farm ILV in 2 main pools.

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

[brisk surge]

Where can i buy ilv? For cheap price, whilw not started the game.

[stable linden]

https://discordapp.com/channels/760344898200666112/859866659011690537/879438716651831336

[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

[wanton nova]

to the other google-sheet nerds: it seems like the APY% is not only influenced by TVL and the fortnightly-reward-reduction but also by the proportion of ILV/ETH in the SLP: #🥩〕staking message maybe you know more about this? gotta go now might catch up tomorrow 🙂 See you

[clear cape]

Does the price of ILV appreciating have a positive or negative correlation with pool APY usually?

[elder dawn]

ILV price goes up, APY goes up

[wanton nova]

because APY is a function of your INITIAL investment?

so if i "stake" 1 token at 1$ and DONT get rewards but the price goes to 1.05$ thats an APY% of 5% ?!

[clear cape]

So if the price movement up is strong enough to counteract the factors that bring APY down...we could in theory have a big apy for much longer than anticipated

[cyan rampart]

This has generally been true, as there have been people staking flexible who pull their stake to sell during price increases.

I don't think the Core Pool APY is hard tied at all to ILV's actual value, you get APY based on tokens staked.

However, the SLP APY is based on your dollar value investment, so APY increases with ILV increases.

[frigid mantle]

do you guys recommend sushi pool or normal pool

[elder dawn]

yep, it's off your cost basis - you're receiving ILV, not "money" - the returning asset is fixed, so if the value of that asset goes up, your rate in $$ goes up. Its like Celsius or BlockFi - they pay a fixed % in ETH or BTC, not an APY in dollars. the more the asset goes up, the better your effective dollar return

[frigid mantle]

like what is the risk between the two? and any specific benefit of each other than APY?

[cyan rampart]

The main differentiating factor is that the SLP has a risk of IL.

Basically, if the price of either ILV or ETH fluctuates a LOT from the price of the other, you are missing out on the potential gains if you'd just held that token.
To compensate, there's a much higher APY for the SLP.

[frigid mantle]

if i stake in sushi, can i take the ILV rewards once per month and then stake those in the normal staking pool?

[cyan rampart]

There is a pinned IL calculator where you can play with different IL scenarios.

[frigid mantle]

from what it sounds like, its best to have exposure in both

[cyan rampart]

Rewards are ALL automatically vesting for 12 months after you claim.

There is no difference between rewards from SLP or ILV Core Pools.

Note that claiming SLP rewards makes you ALSO claim rewards from ILV Core Pool, so you'll end up paying gas twice.

Vesting rewards are treated as ILV Core Pool stakes, so the rewards they generate will be counted as ILV Core rewards.

[clear cape]

@wanton nova just used ur calculator, it seems like im better off claiming my rewards every 2-3 days in comparison to 7-14. well ill be damned

I dont have much liqudity coming in to pay for the gas tho LMAO, i dont even work since uni student fml. probaly best to do it once a week anyways hahaa

[wanton nova]

So you have a relatively big stake, right? Just want to make sure that there is no misunderstanding

[clear cape]

Yeah

[wanton nova]

Does Derajis sheet give you the same conclusion?

[elder dawn]

you're correct- all else being equal, ILV goes up, APY goes up. that's where calculating this stuff gets tricky as a bigger factor is how many people are in the pool. ILV pool is particularly sensitive to volume given all claimed rewards end up there, and it's also easier to get in and out of.

[wanton nova]

Gas is usually cheapest on the weekends. And if you are staked in the slp pool don't sweat it. The slp rewards make up the biggest proportion compared to comounding ilv rewards

[clear cape]

Yeah makes sense, i think like the average person who doesnt do the math but knows the power of compounding, i may have over estimated the power of compounding in the APY pool. Yeah it definitely helps, but not something id probably have to worry about claiming often, even if you have a solid bag size. That being said, its probably still good if you do it if u wanna pay gas, but due to my weird situation of having a good bag but not much liquidity its a bit different for me

I bought 5 different times in 5 days all at the same price because as time went on, i learned more about ILV and wanted to invest more into it, so i paid like an extra 500-700 in gas probably lmfao

[cyan rampart]

IF ILV goes to the moon like many people think it will, frequent claims will pay off in a big way. While we're relatively static around the 400-600 range, it looks underwhelming.

[cunning perch]

I myself do round numbers. As APY goes down, I'll wait for a bigger stake.

[elder dawn]

if APY was fixed, there's really not a huge difference to compounding daily, weekly, or monthly. what incentivizes us to claim more now is the fact that APY is highly likely to decrease over time. I anticipate the "correct" answer is to currently claim more often (still dependent on your bag size), but slow down considerably as the three years progresses.

[cyan rampart]

"Underwhelming" relatively anyways lmao, still good 😄

[clear cape]

This is a very good point my man, i did not consider the limitations of the model, that being the static price of ILV and the dynamic APY% changes

[clear cape]

Yes i think you guys are absolutely spot on with this analysis, exactly why i love reading this channel the most.

[clear cape]

obviously dependant on your bag size (most of us here talking about things this deep probably have a considerable sum lol lets be honest) , but do you personally claim twice a week then or ?

[elder dawn]

what i should do and what i do are actually two different things. I've been trying to get more funds together to add to my SLP stake first, and likely doing that in the next day or so. after than, i'll probably claim weekly, or if gas is particularly low mid week. i'm cheap and hate "losing" money to fees.

[cyan rampart]

I did some math, and based on what I conservatively expect ILV to do, I should be claiming every .1 ILV or so.

What I actually do is different haha

[clear cape]

Lol hopefully by the time its all over, none of us will have to worry about the money we may have 'lost' due to not claiming just a bit more because we are living the dream hahaha

I dont have the math skills to work it out, i hope you guys would be able to sleep at night 🤣

[cyan rampart]

My super basic logic starting out was that if the gains from rewards over a year (at an approx APY I think is reasonable) on the amount I claim exceeds the fee to claim (or is equal at least), I'm WAY ahead if ILV goes up in price.

[cunning perch]

Price for me is irrelevant. I don't mind if I'm paid $500 in 1 ILV or 2. 😉 all the fee you pay will be given back to u through Rev and the rewards will lower your avg...so I sleep like a baby

[cyan rampart]

Ex. If 40% APY over the next year (example number), and I claim .1 ILV, it will generate .04 ILV over the next year. If that's more than gas, I'm ahead. If ILV goes up, I'm more ahead.

[clear cape]

I meant the amount of money that you could have gotten if you were to claim 3 times a week instead of 2 down the line is what i mean

[cunning perch]

3 times a week for me is a lot. I do like once or twice a month or every 20 ILV.

[clear cape]

The discussion is that although the differences in claiming once vs twice a week is not that big right now as Blickter and Deraji have said, in the future, the difference can be quite sizeable

[cunning perch]

Ofc. The future is a different story. I might be waiting to have to withdraw good Rev and re-stake so my rewards will be claimed as well to have paid one gas for both

[clear cape]

Yup. I definitely would honestly be claiming often AF, but unfortunately i dont have the liquidity atm to do so although it would benefit me over the long run. Well i could but itd make me a bit uncomfortable with my liquidity availability atm haha

That being said, this discussion 100% has made me more inclined to claim my rewards more than I would have before.

[cyan rampart]

Same boat here man xD

With semi-limited income, I'm honestly just claiming when I have enough to stake more ILV at the same time haha

[clear cape]

Yeah with this knowledge though, at least we can maybe claim a bit extra here and there which will make up a lot in the long run hopefully

[cunning perch]

Th rev, the game income and the rewards will make gas worth your while, though still better to claim whenever it's justifiable.

[cyan rampart]

I'm also trying to balance spending on ILV with building up some capital to play super hard for 2-3 weeks on launch. Will be easier to budget when we have a date for sure.

[cunning perch]

The first weeks of the game can be quite profitable

[clear cape]

Can you not build up capital needed for the game through sILV for a few weeks beforehand or is that a less effective method?

[cyan rampart]

Everything fiscally saavy in me tells me NOT to claim as sILV. I might have to, but I certainly don't want to. I just want more ILV 😄

[frigid mantle]

lmao me the past two days. the more i read the more i buy

[cunning perch]

sILV is for those low on ETH. If you can spend ETH, it'll be profitable as you get some parts back also in ILV.

[stable linden]

Are you then rolling that back into a new stake and rinse repeat?

[cunning perch]

For me everything goes for compounding. Even Rev. I'll be trying to live off of the in-game income.

[clear cape]

Makes sense

[stable linden]

Could you elaborate the first part

[cyan rampart]

Like, my brain is gonna yell at me if I claim my rewards as sILV at $1000, spend my sILV within a week or two, and then ILV (and sILV) goes up to $2500. As long as I think ILV will reasonably increase I'll be very adverse to claiming as sILV and actually using that sILV.

[cunning perch]

YF rewards get compounded as u claim them. I will only compound ILV and won't claim sILV. And will also stake Rev to have more ILV staked there for even more Rev.

[stable linden]

Still trying to work lingo, rev as in revenue? What is yf

[cunning perch]

YF = Yield Farming Rewards and Rev as Revenue

[clear cape]

How much do u think we would need to play the game 'hard' in terms of catching the fuckers, like 500-1k USD will last for a week ? lol kinda silly q though since so hard to speculate

[stable linden]

Ok this all makes sense thanks!

[clear cape]

because i had the same motive, playing the game hard but i was gonna use my sILV. i might also be inclined to rather use capital if its only 1k or 2

[cunning perch]

You can get an idea here #💬〕general message

[clear cape]

im purely making money off my crypto trading atm and dont work but i tied up lots of my funds into ILV...this is why im in this liqudity issue lol

[cunning perch]

No worries. That's my plan based on my need though. I can easily live with $500 and stake whatever I get back in the pools

[clear cape]

thanks bro that looks rly helpful!

[cyan rampart]

I think for 16 hour days, if we're estimating $60-70 per cycle (assuming high tier price is higher), but also doing as much "homework" as possible (like farming and curing your own shards), and 1h time spent for a cycle, you're looking at $1k a day. Depending on how much farmed stuff you can sell, I think you can probably only effectively end up "spending" 1/3 of that, or about $300/day.

I think you can break even or better if you're not planning on sitting on some assets though. I'll be hodling any holos etc. that I catch.

[turbid wadi]

"Please switch your wallet network to Mainnet to use the app" what is this?

[cunning perch]

Anytime. Playing the game aside form the rewards and Rev is gonna be quite profitable

[cunning perch]

You need to be on ETH mainnet to be able to buy ILV if that's what u mean

[turbid wadi]

Ah... I was on smart chain, thank you

[cunning perch]

No worries 👍

[unique yarrow]

If I’m staking using a hardware wallet to do so do I have to keep the hardware wallet connected and the computer up and running 24/7 or once I’ve approved the staking am I able to then disconnect the hardware wallet and shut down the computer?

[cunning perch]

Whenever you want to stake/claim/swap you need to have it connected as it needs your physical confirmation (signature )

[clear cape]

using 1k a day to play, 16 hours days, EOY is going to be a fucking grind! My gf probably wont be happy though 🤐

[cunning perch]

She won't 😉 unless she has a bag of her own

[cyan rampart]

"Babe, Xmas this year is actually just Xmas in 8 months when I sell this stuff :D"

[unique yarrow]

Just so I’m clear so basically have it running 24/7 with the hardware wallet connected correct? Or is it just when actually making the transactions (like approving staking, claiming rewards, etc) where I’d have to connect it then I can disconnect it after? Sorry just trying to wrap my head around staking here and how it works with a trezor.

[clear cape]

hahaaha i actually got her to buy in today funnily enough. id like to say it would be fun grinding with her, but i, like many others will probably be absolute sweats trying to catch the best illuivum ASAP ahhaha

[cunning perch]

I use Ledger with MM. When I wanna stake/claim/swap I connect it, when I'm done I disconnect it and put it away.

[cyan rampart]

Your ILV leaves your wallet when you stake it - you'll only need to connect it for the staking action, and to claim etc..

[wind walrus]

This is the way!!!!!

[cunning perch]

U don't need it for the dashboard. 😉 just connect MM and you can see your stuff there on the website

[unique yarrow]

Perfect, thank you guys I appreciate the advice 👍

[golden crane]

anyone staked ilv recently? How much gas fee did you pay approx?

[cyan rampart]

Current gas is very high - You should be able to do your initial stake for about $60 USD or less.

[golden crane]

It is the same fee for 0.5-100 ilv?

[clear cape]

yup

[bronze heart]

How do you figure out the best time to claim for staking SLP factoring in gas fees?

[cyan rampart]

https://etherscan.io/gastracker#historicaldata

Look at historical data, wait till gas isn't ridiculous. You can see yesterday, yoo could get a txn through on about 30 gas. Today, there's some NFTs minting and gas right now is 90-ish. 30-ish gas is reasonable, it even drops to the 20 range sometimes.

[bronze heart]

so the objective is to claim as soon as possible with gas fees low as possible?

[golden crane]

Make sure you are not losing money after paying gas fee tho 😛

[cyan rampart]

How often you claim is totally up to you, but almost universally people wait for cheap gas to do so. If you've got enough capital, gas fees are diminishingly small, but I ALWAYS wait for cheap gas personally.

[bronze heart]

thats what i was thinking

maybe i should claim weekly

[hushed karma]

What is sILV? if i stake ILV-ETH, do i got sILV as well?

[manic spindle]

!silv

[woven ibex]

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

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

[open steeple]

for me to swap ETH to ILV its better to do it on sushiswap or metamask? or it is the same?

[noble bridge]

can someone give me an overview i am new to staking

[manic spindle]

!staking 🙂

[woven ibex]

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

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

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

[quaint galleon]

whats the difference between staking in the ilv pool and the Lp pool and what are the advantages to each?

[wind walrus]

Read the pinned info.

[daring slate]

What is the difference between staking in the core pool vs the flash pool?

[rancid plover]

@daring slate I think the core pool is just ILV or ILV/ETH=SLP. The flash pool is for other tokens like AXE or XYZ. Does that help?

[daring slate]

Yes, you're definitely correct on that and that may be the only difference. I just wasn't sure if there were added benefits for staking in the flash pool since it's kind of a limited thing.

[rancid plover]

@daring slate I maybe incorrect but, I think the benefit of flash pools is to integrate other coins and projects into pools that help both ILV's and there tokens liquidity.

Hopefully a mod can straighten me out if I am incorrect. 😁

[ruby wing]

Mainly marketing 🙂

help people gain exposure to ILV

[rancid plover]

@ruby wing Thank you!😆

[clear cape]

marketing that help people uncover a life-changing investment, i could do with more that of that in my life 🙂

[daring slate]

@rancid plover Haha no problem. I appreciate the help. It looks like the APY also has a little better incentive if you're wanting to recieve only ILV and not Sushi LP.

[rancid plover]

@daring slate I'm trying to learn.😁

[daring slate]

@rancid plover Same here! 👍

[rancid plover]

@daring slate I'm just glad that the mod's are so patient with us and are willing to help us learn. Illuvium has such a great community. 👍

[cunning inlet]

$90 gas fees to stake... Too high?

[wind walrus]

Gwei is 52 atm. Might want to wait a couple hours.

[frigid edge]

Just spent $500 in gas to stake $20k worth lol…….yolo I guess

[wind walrus]

Ratio wise not bad but kinda steep

[glossy dirge]

I have a question. Will we get revdis from ilvs that were locked after claiming as a reward?

[wind walrus]

As far as I know yes

[cyan rampart]

Yeah, rewards count as staked while they are vesting.

[outer seal]

Do I have to aprove once and then stake one more time for the ilv?

[cyan rampart]

I think there's a transaction for your first interaction with the staking contract, and then you can stake.

[cunning inlet]

This is a dumb question, but the rewards are automatically re staked? Wanna lock for 52 weeks

[cyan rampart]

When you claim rewards, they automatically restake (for 12 months). They don't restake without a claim though.

[open steeple]

investment wise what is the best to get the rewards on staking SushiLP ILV or SILV? if i choose ILV e get ILV and if i choose sILV i only get the "ingamecurrency"?

[wind walrus]

Only you can choose what is best for you.

[elder dawn]

correct - ILV is the governance token and eligible to restake to compound and get rev dis. sILV avoids the 12 month vesting period and is good for in game currency. up to you which is better

[clear cape]

which pool

[open steeple]

so i can then use the ILV to buy sIlV to use ingame? whats the point of choosing slLV ?

[frigid edge]

ETH/ILV

[clear cape]

nice

[open steeple]

im kind of a noob in this, sry if it is dumb questions

[elder dawn]

you get money to spend in game immediately. rather than wait for a year to be able to access, you get your rewards to spends, such as at the land auction in November (ish)

[open steeple]

oh i get it , ty so thats better i wanna play 😄

[rancid plover]

I'm so excited about this game that I personally will do my first claim in sILV. So that I can have lots of fun game play. Then I will claim ILV after that. But that's just me.

[elder dawn]

exactly, that's who it's made for - its a benefit to stake, and you are essentially earning "free" gift cards to use in game for people more interested in that side.

[open steeple]

so like @rancid plover is saying everytime i made a claim i can choose if i want ILV or sILV, its not fixed, im about to stake it now and it apeeared the question if i want ILV or sILV and i thought is was fixed

[rancid plover]

@open steeple yup.

They planned it that way so that the game itself is more important than the economics. The economics are both a benefit to the game and away for the game to have longevity. That's the way I see it.

[quaint galleon]

when staking and it says 50% apy is that on the coin or on the dollar value of the coin?

[gloomy gazelle]

uh if it's in the ILV only pool it means both... stake ILV to get ILV cost will be irrelevant to the rewards

SLP pool is calculated on USD value since staking is one token and the rewards are another (eth/ilv SLP and ILV)

[quaint galleon]

but say i put one coin in. I would get .5 of the coin back pretty much after the year no matter the dollar amount? or would it be $250 worth of coin back after a year assuming it was 500 when i put it in

[gloomy gazelle]

ah yeah it's tokens... but the APY will not be locked in its gonna be variable depending on how much total ILV is staked and how many ILV are being distributed

[quaint galleon]

yeah i was just using those all for examples

[gloomy gazelle]

good... some folks think they are guaranteed the return percentage from the moment they stake it

[quaint galleon]

i could see why they could think that to be honest because it could be confusing with the term locking it in

[noble bridge]

so i am brand new to staking if I stake for ILV and dont lock it in for one year i can pull out funds and rewards anytime and will the rewards be in ilv coin?

[gloomy gazelle]

incorrect only the initial deposit will be unlocked and could be withdrawn anytime. The rewards will be locked and staked and vesting for 12 months once you claim them

[noble bridge]

so when should i start collecting them

[gloomy gazelle]

Unless you claim the rewards as sILV so it can be used in game. Those tokens are unlocked and sent to your wallet when claimed

[noble bridge]

so automatically they are claimed and sent to me 1 yr after staking?

[gloomy gazelle]

when you have enough rewards stacked up for it to be worth paying the gas for it

!staking

[woven ibex]

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

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

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

[gloomy gazelle]

watch the video and come back if things are still unclear

probably you only need the second half of the video

[open steeple]

what it suppost to be a good gas fee? 30 to 50 its ok to do the trans?

[gloomy gazelle]

no... vesting is done manually and the final withdrawal will be another transaction anytime after the end of the 12months lockup period

[gloomy gazelle]

depends what you want to do and how long you want to wait. recently 20-40 has been pretty good gas fee. But it goes lower on weekends especially

!gas

[woven ibex]

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

[open steeple]

so if i put that gas for example 30 and it is now 90+ when the gas is 30 my trans will go trough?

if it dont get to 30 never what happens ?

[mint cave]

this

if it never goes to 30...your transaction just won't ever go through

long enough time passes and it'll get dropped from the mempool

[open steeple]

so there is no chance i loose the money?it will always come back?

[mint cave]

you won't lose gas money, no

[open steeple]

so seems that today its not a good day to do trans 😅

[elder dawn]

business hours in the US are particularly bad for gas usually. check out the gasnow.org chart at the bottom - it shows prices by hours for the past week. Late night weekdays (US time) are your best hope until the weekend https://www.gasnow.org/

[red summit]

Gas fees are paid in eth right?

[gloomy gazelle]

correct

[wintry halo]

Yep

[noble bridge]

ok so i watched that video and i have ilv staked where i can remove it at any time, when do you determine the best time to withdraw the rewards

and is basically 12 months from the time you first staked

[gleaming heron]

If i take the flexible Staking option, are my staking rewards also locked up for 12 months or do i get them, when i end staking?

[elder dawn]

unless claimed as sILV, rewards are locked for 12 months and placed in the ILV pool

[gleaming heron]

what do you mean by "unless claimed as sILV"?

[elder dawn]

when you claim rewards, you have the choice of sILV or ILV - ILV is the governance token, sILV is equivalent in price to ILV but can be used for in game purchases immediately, or for the land sale.

[gleaming heron]

So either way you get your ILV reward 12 months after end of staking?

[elder dawn]

no, you have to choose one or the other. either you get ILV and its locked for 12 months and earns interest, or you claim sILV and get the money to spend in game immediately

[gleaming heron]

but when i choose ILV and the flexible method, the reward is also locked, right?

[elder dawn]

yes, your ILV rewards are just like buying and staking another ILV, and it's automatically locked for 52 weeks, and earns rewards at the max rate.

[elder dawn]

correct- flexible jut means you can withdraw your original stake at any point. rewards are treated the same way regardless of locking period

[gleaming heron]

ok thank you very much

[wind walrus]

@elder dawn , your writeup on Publish0x is next level. Thank you for taking the time to do that for the community

It's ETH gas fees.

[uneven stone]

@elder dawn i just clarify something. When put like slp worth 1 ilv in the slp pool and lock it in for 12 months. Since you have the 2.0 multiplier is it basically the same as staking 2 ilv but flexible?

[elder dawn]

first, SLP required equal dollar amounts ETH and ILV - so "1 ILV worth" means staking $250 ETH and $250 ILV. The multiplier exists in both the ILV pool and SLP, with locking for a year giving you 2x weight. The SLP has the higher rate, but it's either locked and pays 644% today, or you stake flexible and get 322% today. The end of your sentence is correct - if you lock for 52 weeks, it's like you stake $1000 rather than $500, but that's what the difference in APY shows. You either get 644% of $500 when you lock, or you get 322% of $500 when you select flexible. let me know if that helped.

[clear cape]

link?

[elder dawn]

just started sharing some things - hopefully getting some more people interested in the community here. https://www.publish0x.com/ilvfi

[elder dawn]

Thanks @wind walrus ! It means a lot. I'm really excited about the project and happy to share my thoughts.

[wind walrus]

Same here. Moving a lot of profit from other projects to Illuvium. Life changing

[uneven stone]

This actually helped a lot thank you!

[elder dawn]

and this will be more fun than just watching DeFi numbers. there's dragons 😋

[clear cape]

i'll show my kids this link one day when im a multi millionaire being like ' Deraji wrote this, we used to have good ol convos in the staking channel'

[uneven stone]

Would you say its more smart to put 500 on the slp pool and earn a reward worth of 500+ some change for the gas fee ilv in a couple of months which is gonna be staked in the ilv pool anyways. Rather than put 500 on the ilv pool which has a lower apy. I would really like your input on this since i basically know nothing about crypto @elder dawn

The 1st option would be basically the same as staking 1 ilv just a couple months later right?

[clear cape]

u know nothing about crypto and landed in one of the best crypto projects going around ? god is on your side huh 😉

[elder dawn]

its a tough call, and "not financial advice" and all that. at $500 to invest, you're really going to spend 25%+ of that on gas fees. to me, that's the deal breaker. every time you claim from the SLP, gas is also higher. It depends on what you think ILV price will do, but personally, i'd rather earn more than just give it away in gas. <standard NFA disclaimer>

[uneven stone]

Funny thing is i just saw someone retweet it and got curious cuz i saw a cute "pokemon" like creature

[clear cape]

hope it was this one

[uneven stone]

Yes!

[uneven stone]

So basically the "smart" way would require a minimum usd to make the gas fee reasonable?

[elder dawn]

that's my personal philosophy, but to each their own in investing. i tend to be conservative (aka cheap)

[uneven stone]

But is my line of thinking right? That there's a point in money where it would be better to out it in SLP rather than ilv? What amount would you think that is if my line of thinking was right

[clear cape]

gus im more 'risky' and i think the slp rate will be worth it regardless of the gas fees in comparison to ur initial investment :)) at 500, i personally think its worth it. but deraji does the math and shit behind it so his input might be more calculated and thought out

[elder dawn]

feel free to play out some scenarios in the calculators pinned here. mine in up there. you can input different prices to see what makes most sense to you. At $500, you'll get about 0.14 SLP after gas fees

[uneven stone]

.14 slp would amount to how much in ilv?

[clear cape]

prob like 0.45-5, then like 0.1 of an eth or some shit like that

[elder dawn]

first, wait until gas is cheaper as it will destroy you right now. then, i'd plan about $200 ILV, $200 ETH, maybe a little lower. so if you're doing the SLP, its probably a little under 0.4 ILV right now

[uneven stone]

I saw someone say its generally lower on the weekends.

[elder dawn]

i'm honestly sitting with sushi open and an SLP transaction ready to go to add to my stake, but refuse to pay the gas.

[uneven stone]

How much gas is the reasonable amount would you say?

[elder dawn]

yeah, late night in the US you can occasionally see it below 30 Gwei. Friday nights and Sunday mornings (US time) are fairly consistently the best

[clear cape]

lmao deraji literally wrote an example for 500 usd, might be worth reading

[elder dawn]

i wait for at least under 30, preferably under 25.

[clear cape]

https://www.publish0x.com/ilvfi/staking-illuvium-ilv-part-3-estimating-future-value-xjorlxp initial link

[elder dawn]

hey, that guy seems to (sound like) he knows what he's talking about 😋

[uneven stone]

I see the difference in you two now

And thanks btw, you guys really helped me a lot

[elder dawn]

happy to do it! good luck

[cloud quiver]

Is the ILV given from rev dis locked or is it immediately available to sell?

[jolly ridge]

Unlocked

[red summit]

@elder dawn the articles are awensome, thx man. It really helps the community

[rain halo]

I am correct in saying just the rewards are locked (vested) for 12 months after claiming right. You can withdraw your initial ILV/SLP investment immediately?

[lament gull]

1. can i stake ILV 2x? 1 having ILV rewardsn and another with silv?

[mint cave]

you can stake as many individual times as you'd like, they all generate rewards that you claim in one place

if you wish to separate it like that, you'd need 2 different wallets - probably best to just alternate your claims in ILV and sILV

[lament gull]

ah ic so i can stake today then i stake again tomorrow then again next week? but it will have different locking periods right?

[mint cave]

yes, you could

[lament gull]

Is there a limit? like can i stake every day for the next 30 days?

[stray mountain]

what are the benefits of staking ILP vs ILP/Eth?

[hot owl]

Something not so nice about the Flash Pools. I entered early with $2300 at 7000% APY. More and more people joined until it dropped to the current 350% APY. With the fees I will lose money to claim my rewards in 15 days. And there is now way to unstake. That kind of sucks. My money is locked for 15 days. After which I there will be ILV up to claim. But to claim them will cost me as much or more than I paid for my transaction fees.

[mint cave]

you can stake as much as you want, as often as you'd like

[hot owl]

For the future there should be a maximum TVL so one can calculate beforehand the minimum amount to stake not to go negative.

[mint cave]

you can withdraw from flashpools at any time you wish: go to vesting -> withdraw

[hot owl]

Ah thanks Jeff, i was not aware.

[lament gull]

im really new to this and i only have a metamask wallet. can i use that to stake here in illuvium? i only knew about metamask from axie

[rain halo]

Any insight would be much appreciated 🙂 @mint cave

[mint cave]

a limit on TVL would not be good, it would incentivize gas rushes to get into the pool, which would result in a much worse user experience if smaller stakers paid the gas to get in but failed to make it in time

[mint cave]

this is correct

but only if you did not lock your initial stake

when you stake you choose 0-52 weeks of lock

[hot owl]

However to withdraw you must claim your existing rewards...thus forced to pay those transaction fees, so then it is better just to wait out the 2 weeks. Otherwise I definitely go negative.

[rain halo]

perfect thanks

[mint cave]

yeah if the gas fees are eating that much into your rewards this is a wiser choice

[hot owl]

Thanks for the prompt responses

[clear cape]

worth doing ur research for flash pools tbh..not that worth it in my eyes when u have a 650% lP

[hot owl]

Yeah, but looked amazing 2 days ago, 7000% APY, never expected it to drop that fast. Lesson is to wait until the last hour and compare APY since you can stake at any time. I thought the countdown was the time you had to stake also.

[clear cape]

Yeah all good my man, it wont be a big deal at all in the long run so no real dramas 🙂

[hot owl]

But hey, XYZ will most likely moon 200x in 2 weeks. We'll all be rich 😂

[clear cape]

i know fuck all about xyz, is it actually got something coming up or was that a joke

[hot owl]

I am talking out of my ass

[clear cape]

ahahaha i didnt actually think it would 200x, but i may have thought there was a big event coming up for it too 👀

[hot owl]

That said, I am a very lucky guy. So you never know.

[ruby wing]

#xyz discussion please

[bronze heart]

Can someone explain the 2x weight thing to me after claiming the reward as ILV

[surreal crater]

after claiming ILV, it vests for 1 year before unlocking hence the weight

[bronze heart]

so the 2x weight is only on the claimed reward or the entire deposit

[mint cave]

your initial stake weight is determined by how long you locked, 1.0 for flexible, and 2.0 for 52 weeks, with a linear progression in between

[bronze heart]

I'm Staking SLP locked in for 52 weeks

[halcyon dust]

Is this staked? Today I added more to my sushi pool, was a real fuck around because I had to claim rewards. For some reason though it now says withdraw when the others dont.

[frosty solar]

is the APY variable?

[ruby wing]

APY is dynamic yes

will change as staked amount, token value and time changes

[frosty solar]

Can you elaborate a bit on that if possible? If token value goes up, does APY go down?

[ruby wing]

Token value goes up, APY would go up in theory.

[frosty solar]

ok so it doesnt balance to reach a static amount, good to hear. I believe the token will go up, so thats a plus

[ruby wing]

I might be mistaken, but the way I think about it is that if ILV value goes up, over the period you will YF less units but those units are worth more

[frosty solar]

wait then wouldnt that balance out to equal original APY of original investment?

[halcyon dust]

@ruby wing Could you confirm this for me? When we claim rewards they go into the vesting period and compound on your initial staked ILV/SLP starting a fresh 365 day lock?

[frosty solar]

token goes up, you get less tokens = same value

[ruby wing]

ILV rewards compound over a 12 month vesting period in the single asset pool 🙂

[gusty magnet]

I'm kinda new to this, but quick question... Is impermanent loss something we should worry considering current APY of 322% (flexible SLP)?

[ruby wing]

yes it is

[gusty magnet]

could you elaborate?

[ruby wing]

I wouldnt worry too much if u lock for 12 months, but flex in SLP, you should because the APY will likely decrease a bit so if we pump to like 2K and ETH does nothing, it is a decent amount of IL.

But, I would worry more about gas fees over IL tbh, bag size is more important IMO

[gusty magnet]

but for bigger amounts, gas fee wouldn't be that much of a problem, right?

[ruby wing]

correct

[gusty magnet]

Okey!! Thank you sir ^^

[ruby wing]

https://tenor.com/view/gatopom-gif-22769223

[brisk surge]

From what I understand a big pump in ILV and stable ETH price won’t be an issue…it’s more a flash crash in one of the assets that could cause loss of funds no?

Like a 3x of ILV And stable ETH non issue for example

[brisk surge]

Crickets ahaha

Like a bit of IL doesn’t seem an issue at 600% is what I am saying

[clear cape]

No, a flash crash wouldnt cause a loss of funds from what i am aware. its purely based for when u cash out vs if you were to hodl.

[sinful hatch]

IL refers to the difference of the price when you remove liquidity to what the value would have been if you had just held the two tokens and not staked As a LP

[brisk surge]

Like from what I have an insane flash crash is really the only potential risk of losing funds…and that’s not happening with ILV or ETH anyways I’m locked for a year slp, let’s go baby

[brisk surge]

Yeah I’m not worried, going to make an insane amount of ILV so good either way

[sinful hatch]

Agree. There is always Smart Contract hack risks I suppose but I am not worried about IL. Both ETH & ILV are quality tokens plus the new ILV hopefully offsets any IL or reduction in Token value

[brisk surge]

Yeah hack is my only concern but worth it, once in a lifetime to stack this much ILV, doing the math with token appreciation x 600% it’s almost scary

[sinful hatch]

It's an awesome APY. Anotheher risk is if the game doesn't catch on or falls over as that will impact price significantly. We all believe it will deliver but it's not a guarantee so people need to be mindful of this too given lockups

[vague thistle]

When you claim ILV from the Sushi pool, do you pay gas to claim and the more gas to re-stake?

[brisk surge]

True that’s the least of my worries tho, I have fully drunk the koolaid…firm believer

Don’t have to restate if just claiming rewards

[brisk surge]

Don’t have to restake

[vague thistle]

But you pay to get SLP once and then pay to stake again right?

[brisk surge]

I mean if you just collecting rewards you do t have to end your stake, so you don’t have to restake. Just one gas fee to claim

[spring merlin]

In terms of an actual loss, yes. Impermanent Loss is more just missing out on gains. But as many have pointed out you're stacking ILV while staking SLP so it probably works out. Definitely a bit more complicated than straight ILV staking/hodling.

[brisk surge]

Yeah thanks appreciate it. The ILV rewards will greatly outweigh the difference as the rewards will be much more than the initial ILV amount. HATE to lose any ILV anywhere tho…

[twilit sinew]

@elder dawn couple comments regarding your table for ILV staking. first, SLP table doesnt have any function to evaluate impermanent loss. Second, I think your inputs regarding the SLP are incorrect (15 SLP does NOT equal $5,000 investment. by my calculations 5000$ split into ETH and ILV should yield 1.9 SLP)

[elder dawn]

Thanks @twilit sinew - yeah, i don't have IL included yet. I need to build that in yet, but honestly, the APY in the SLP will dwarf IL for the time being unless something dramatic happens (e.g. ILV to $10k). Regarding SLP and investment, those are numbers people add themselves. if you got in early enough, that may have been the price. Currently, it sits at $2688 per SLP, but that number changes over time. I updated so its a current example, but hopefully people copy it and input their own starting values.

[twilit sinew]

@elder dawn Awesome, makes sense. Thank you for your work, greatly appreciate it

[bronze heart]

https://app.zerion.io/invest/asset/SLP-0x6a091a3406e0073c3cd6340122143009adac0eda im using this site to check the ILV/ETH price

[hot lynx]

Hi guys a question on core staking .. do you miss out on Airdrops ? As the tokens are invisible

[gloomy gazelle]

No. Not a thing to worry about. Airdrops won’t happen like that.

There won’t be more official airdrops of ILV token just tokens given to stakers.

[ruby wing]

in fact, I know the team is planning on doing random NFT drops to stakers (from what I have heard)

[grizzled axle]

Im trying to claim ILV rewards by clicking the claim button on rewards page, but it isn't working since yesterday for me. is this a known issue currently?

[ruby wing]

do you have enough rewards?

[olive frigate]

Trying to stake my LP tokens.. but the gas fee's are soooo high at the moment.. any suggestions?

[lean edge]

I just got ripped $500 in ether fees trying to claim my reward and re stake

And it didn't even work, now I'm down $500 and still didn't get to restake

[grizzled axle]

Is there a min amount that you can claim?

[gloomy gazelle]

Sounds like you need to watch the how to video pinned in here.

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

Probably just the second half or less

Ban coming

[lean edge]

Yes I claimed as the video said, claim only sushi lp if ur in both pools. I got hit 3 fees and rewards didn't claim properly

[hot lynx]

Immutable token ..👀

[hot lynx]

Turn multi-hop off on the Dex

[gloomy gazelle]

So you are saying IMX is going to airdrop to ILV holders? Sounds like they should talk to the Illuvium team about that. But I imagine they are in communication.

[coral umbra]

https://tenor.com/view/alert-scam-sheep-zombie-lies-gif-21519331

[gloomy gazelle]

@exotic igloo ban please @silent dagger

[lean edge]

I'm starting to think is staking even worth it with these massive gas fees.. claiming rewards will almost chew up all of it...

[gloomy gazelle]

Try waiting for 20 gwei instead of 80 gwei

[lean edge]

Yeah I'll give that a go, cheers pelican

[gloomy gazelle]

Are you sure the transactions all processed or did they fail. If you DM me the tx I could take a look

But yeah high gas can be killer

[hot lynx]

The question remains if you're staking $ILV and your tokens are invisible to wallets . how do you get any possible Air drops that may occur over the next 12 months. This is a staking question.

[gloomy gazelle]

Well if some project just sends out tokens to all ILV holders without contacting the team first then that’s on the other project.

[hot lynx]

I am staking on the 12 months LP lock 🔒

[gloomy gazelle]

If they contact the team then the team would easily be able to figure out a way to get it to the stakers.

[midnight crow]

I am trying to understand the staking. I just watched Rahlord's ILV Staking Tutorial and have a few questions. When staking in the ETH/ILV pool...around 12:13 in the video (1) adding liquidity means putting an equal dollar amount of ETH and ILV. Then you get SLP tokens which you then use as the token to stake in the ETH/ILV pool? Is that right?

[noble bridge]

ok so I am about to stake 12 months slp lock in, is it actually two years before you can utilize your rewards since it stakes for one year and than its one year from when you redeem it?

that is correct kimlosa

so when should you start claiming rewards i know it depends on gas prices size of investment? but any idea if I am doing about 45k investment

[cyan parrot]

So we need the slp

Oh I see

[gloomy gazelle]

ETH/ILV SLP

[noble bridge]

anyone concerned about locking in for year since some of the tokens become vested in march

which means they will add to the float

[cyan parrot]

I’m probably to broke for the extra fees lol

[gloomy gazelle]

Nope. It’s not an Unlock cliff. But just the start of a linear unlocking. By then revdis would be live

[noble bridge]

can you explain the revdistribution?

[primal obsidian]

check out this article https://www.publish0x.com/ilvfi/staking-illuvium-ilv-part-3-estimating-future-value-xjorlxp id read part 2 first

[noble bridge]

new to discord will do

[cyan parrot]

Haha same where is the white papers bahaha

[midnight crow]

Thank you. I am not familiar with liquidity staking pools in Sushi swap. I am just trying to wrap my head around it. My second question is what does the text at 12:35 in the video mean, "Before you can stake, you first have to claim your existing rewards in this pool. Because we compound your rewards into the ILV pool, if you select ILV, the rewards in that pool will first be claimed before claiming rewards from other pools." How can you claim rewards before you stake? This makes no sense to me.

[noble bridge]

so pelican you think i should stake for full year

[weak lagoon]

This can happen if you stake multiple times. The first time I staked I generated rewards for about a week, then wanted to add more. But it does it all in the same order.

Edit: if it's your first time staking you shouldn't receive the notification.

[noble bridge]

even with some being released in march

assuming i dont need the capital, also looking at the white sheet its confusing what is the best time to garnish rewards

[weak lagoon]

Hey Eidel. I think the stake duration is the part you'll have to decide on your own. There's a lot to consider. I know a lot of people have gone out for the full 12 months because they're big believers in this project. I have some short term, some long term, personally.

[midnight crow]

So, the text should say "It looks like you have already staked SLP into this liquidity pool. You have earned rewards already which will be claimed if you add more SLP to this pool.

[noble bridge]

how often are you cashing out your rewards?

[weak lagoon]

Yeah thats correct

[true hollow]

etherum gass fee over 100 USD to stake rn smh

[noble bridge]

i looked over the pinned spread sheet it seems every 4 weeks?

if i am staking around 45 k in slp

[midnight crow]

Ok, but if you have locked your SLP for 52 weeks (let's say), then you could not claim the rewards, right? So, does that mean that you cannot stake any more SLP?

[ruby wing]

just wait 🙂

[weak lagoon]

It depends on how much you stake since the gas prices aren't based on the transaction size. For me, once every 2 or so weeks.

[noble bridge]

about how much ilv is worth it for you to withdraw

[weak lagoon]

You can claim your SLP staking rewards at any point in time during the locking period. It's the ILV that you're rewardes from the SLP that is locked for another 12 months once you claim it.

[true hollow]

definitely gonna hold off for now lol

[olive frigate]

been waiting close to a day now xD. Eth blockchain conjusted - for good reason but i guess lol

[ruby wing]

just keep stacking ur bags before staking 😉

then the gas wont matter as much

[true hollow]

you can stake SLP on the ILV stake page? Does it have to be a sushiswap like pair?

[noble bridge]

wade how often are you redeeming rewards

[midnight crow]

Thank you for explaining this to me. I think I am a little lost here. I am not following what you just said.

[steady trellis]

Ohhhh nice article ! I wish the calculateor for SLP include the ILV you've though. but that's great starting base to do some simulations !

[weak lagoon]

My apologies if I'm making it more confusing. Let me try again haha. So when you add liquidity, you receive SLP, then you stake the SLP and begin to earn the yield/rewards over time. You can claim those rewards whenever you want in the form of ILV but when you claim it, you have to pay the gas fees and the ILV will be locked for 12 months.

The phrase you were asking about is if you currently have unclaimed rewards and try to stake more. It'll basically claim those existing rewards first and then add to your staked position.

The ILV you are rewarded then is locked for 12 months, but it'll go into another "staked" pool and continue to receive revenue distribution. So you basically get compounding interest on top of compounding interest.

Edit: there's also the option to claim sILV instead of ILV. Which is not subject to a 12 month lock, but can only really be used in game and does not receive revdis.

[primal obsidian]

I thought so too!

[weak lagoon]

I'm actually not sure on that.

[midnight crow]

I appreciate you helping me understand this better. Ok, I think I got it. So, what you are saying is that the original investment is locked, but the rewards (comparable to interest, right) can be claimed at any time and are not locked. Is that right? Of course, when claiming the ILV rewards, you have to be mindful of gas fees because if you claim $20 worth of ILV and then transfer this over to a Metamask wallet with $30 gas fees, it is obviously not worth it.

[noble bridge]

so its one year from claiming

but figuring out the best time to claim them is the issue for me i looked through the spreadsheet, I guess I can infer every 4 weeks is best?

Claiming weekly Claiming biweekly Claiming 4 weeks Claiming every 12 weeks
Value from ILV rewards - 1 year 10.979 10.81508213 10.25191009 8.028585866
Value from ILV rewards - 2 years 17.855 17.32015194 17.08205201 14.80366095
Value from ILV rewards - full term 19.500 18.86330125 18.93129094 16.99807938
Gas fees $9,120 $4,560 $2,100 $720
Net value gained $39,631 $42,598 $45,228 $41,775

so its looks like the net value gained was highest at every 4 weeks?, with a value of 45,228?

[midnight crow]

I don't understand. You claim them then you have to stake them? What does claim mean in this? My understanding of "claim" is removing it to metamask.

[weak lagoon]

Just one correction, you can claim the ILV rewards at any point in time, but AFTER you claim it, it'll be locked for 12 months.

[steady trellis]

I've the same result

[steady trellis]

Vested for 12 months each time you claim

[midnight crow]

Ok, so what does the word "claim" mean? I thought claim meant you take your "interest" ie rewards and transfered them to metamask to liquidate into eth.

[noble bridge]

no

[weak lagoon]

You basically claim them to begin a 12 month vesting period. You won't receive it until after that. Unless you choose to receive the sILV as the reward which is not locked, but can only be used in game.

[noble bridge]

it means the vested time begins:P from the time claimed

is there any chance of them not being able to pay the vested amount, i guess the concern is if the price drops substantially by the one year mark and that is the risk.

like if the game doesnt succeed even if you get paid in there coin if its devalued thats the risk of the investment

[steady trellis]

What is vested is the ILV, not the $ price. If ILV goes up, your vested amount goes up, if ILV goes down, your vested value goes down

[noble bridge]

yeah thats what i am saying if the game doesnt do well by the time 1 year comes around the coin price could be very low

[midnight crow]

Ok, so let me get this straight, the difference between locking and not locking is whether or not you can take out the original principal you invested into the pool. However, any rewards you get must be claimed at a particular time and you won't be able to send it to metamask for 12 months?

[noble bridge]

you can claim whenever you want, but its 12 months from that time for you to remove it

hopefully the game is good, I hear beta should come around in not to long

[midnight crow]

As far as fees are concerned, there is a gas fee for claiming AND a gas fee for sending to metamask?

[noble bridge]

yes

[midnight crow]

Thanks

[weak lagoon]

You can claim the rewards whenever you want, they just are locked for 12 months. Otherwise that's correct.

[noble bridge]

who locked for one year just out of curiousity?

[glass mason]

If I do not claim my rewards while staked will the nonclaimed rewards be compounded?

[steady trellis]

An issue that I see in this document is also the claiming is averaged. But i feel that claiming more regularly at the start, an claiming less and less along with the APY decrease would make more sense. @noble bridge @primal obsidian

[noble bridge]

i believe so kingmar

[mint cave]

no

[noble bridge]

i think u have to claim than they compound

while they are staked but i havent done that as of yet just from watching the videos

[glass mason]

The fees for claiming is 20$

So it’s not really worth claiming until you staked for a while

[noble bridge]

@steady trellis that does make sense

king do you have consensus on when is ideal staking

i looked through the spreadsheets but they are not very clear or altogether accurate

[midnight crow]

If you are staking in the ETH/ILV pool what do you earn? SLP and ILV (if you choose that)? ILV only?

[glass mason]

You get ilv

[noble bridge]

you have to check the pools, and depends if you lock in vs flexible.

[keen ridge]

I understand the risk of impermanent loss, but with an apy of 630% in the liquidity pool in comparison to the locked pool at 80% and decreasing weekly, doesnt this still make SLP pool a no brainer at least short term?

[noble bridge]

oh misread question you get ilv

as long as you believe etherium and ilv wont diverge substantially

[glass mason]

@noble bridge @keen ridge the apy of 630% also has a lot of gas fees. To do so I had to pay prolly over or around 100$ just for gas fees

[noble bridge]

also depends on the size of investment, if your investment is very small and you are constantly paying the gas fees for the rewards its not as straightforward

so if your investment is larger gas fees dont vary than rewards much higher, but higher risk etc

[keen ridge]

@noble bridge yeah true, I guess ILV could still flourish in a bear market due to playerbase and constant purchases providing ilv demand so it could sway significantly to ETH then

[noble bridge]

so if your investing 50k vs 500 dollars very different

even if you had 600% apy if your fees wipe out your rewards everytime

[keen ridge]

yeah i get what your saying

[noble bridge]

you pretty much lose prob close to 10%+ depending on the size of your investment by the time you get it to slp vested

[keen ridge]

so generally the bigger investments of 5k+ or whatever should really only be considering SLP and thats without factoring in the risk of impermanent loss

[noble bridge]

but i am not that worried about impermanent losss

[midnight crow]

Just read an article about impermanent loss, is there an opposite impermanent gain when the ratio between the value of the two tokens goes the other way?

[noble bridge]

i mean anything can happen but its likely if ether does well so does ilv, the bigger issue is if the game sucks than ilv wont do well

[keen ridge]

@midnight crow pretty sure and difference in price whether one goes up or down is a loss

[noble bridge]

so even if you get 600% but the coin value drops to 10$ you lose your ass

and if the game bombs or gets massively delayed its still another year + before you can actually trade your initial investment plus your bonus

but on the flip side if the game is even marginally successful the market cap is rediculiously low

[keen ridge]

yep and if that happens lets hope ethereum gets hacked and loses all value lol

[cinder lake]

another factor to be considered is until when do you think this bull market will continue

[midnight crow]

Are you saying if ETH/ILV value ratio goes up or down it would be an impermanent loss?

[clear cape]

ILV will detach from crypto market if it's a successful game, dead srs

[keen ridge]

@midnight crow if one rises or drops in value in comparison to the other then yes its a loss, it gets to a bigger loss if one rises while the other drops, and if they both rise or drop at same rate no loss

[cinder lake]

yes but if you do SLP staking, your ILV/ETH ratio will be affected greatly

[midnight crow]

So, we just have to hope that ETH and ILV both go up in value and by the same amount.

[clear cape]

Not really, the rewards will make up for it

[keen ridge]

@midnight crow in a perfect world, but its a risk whether you think they will track close enough that the high apy - gas fees will make everything worth it

[noble bridge]

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

[midnight crow]

Thank you for explaining. I appreciate it.

[noble bridge]

if ilv goes up much more relative to etherium its still ok because we get rewarded in ily

even if our initial investment will be returned to us with more ether do to arbitrage

its much bigger deal if ily tanks than we are in trouble, bc we will lose alot of our initial ether investment, plus our rewards are also going to be much worse

[keen ridge]

@noble bridge have u locked in for the 52 weeks in SLP?

[noble bridge]

i did half and half

i locked in 52 weeks of slp and than left some flexible ily just to check it out

because i might trade the ily if it runs with beta coming out

[midnight crow]

Thank you. That's helpful. Ok, now how do I become an arbitrage trader? 🙂

[keen ridge]

yeah makes sense, is the SLP apy gonna significantly change in 6 months time? because I read the ILV pool is decreasing at about 3% a week

[noble bridge]

than i can just split the ily and use the excess for ether and add more slp

was it weekly or every 2 weeks i cant remember

[last nova]

should it cost me 180$ to stake 3.7 tokens? i’m so confused

[keen ridge]

something like that, is that happening for liquidity pool as well tho?

[noble bridge]

i think it was like 2-3% every 2 weeks

[grizzled axle]

The fees applies even the rewards are still locked?

[noble bridge]

but if you are getting 630% thats 600% after 30 weeks still cant really complain

and your rewards are in ily which is likely to appreciate

[keen ridge]

yeah I was assuming that pool apy would drop at a faster rate but your saying they the same?

[noble bridge]

i think depends how many people sign up for it as well, its function of the pool as well

[keen ridge]

yeah might actually drop at a slower rate thinking that it has 50% less supply staked than the other pool

[noble bridge]

yeah i think they wanted more of that pool to be staked thats why the more favorable rate

[midnight crow]

Is the apy calculated on the value of the ILV portion staked in theliquidy pool or the value of the ETH+ILV?

[grizzled axle]

what will happen if i disconnect my wallet when staking?

[wheat kestrel]

ETH+ILV

[cyan rampart]

If the transaction is submitted the to chain, it should still go through. If not, it might cancel.

Generally, you could stand to lose some gas, I don't recommend disconnecting your wallet during staking.

[grizzled axle]

I think im having issues with my wallet, so i wanted to reconnect it again.

[wheat venture]

What determines how fast the apy falls for the ilv pool ? It will keep dropping as fast as it is now till what ? I’m new to this so ... How low could it go theoretically even

[gloomy gazelle]

2 things... how much ILV is staked in the pool... and how much ilv is being distributed as rewards

[wheat venture]

What’s the worst that could happen ? If more and more people want into the staking for the rev share apy could just go to nothing ?

[gloomy gazelle]

The tokenomics post has the data you would need to calculate a reasonable estimate

[gloomy gazelle]

not nothing

[wheat venture]

That’s good then

[gloomy gazelle]

this is from the tokenomics article on medium. It shows how much ILV is distributed during every two weeks for the 3 years of the yield farming token distribution. thats a 3% decrease in the number of ILV distributed every 2 weeks. After that ends, staking will just be for Rev Dis.

[swift lance]

Hi,
Is it normal that gas for the staking contract is 57 Gwei (89$ fees) ?

[gloomy gazelle]

It's higher than I like to pay. 20-30 is average I'd say

!gas

[woven ibex]

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

[swift lance]

Ok thanks. What is a good value for gas limit ?

[gloomy gazelle]

don't mess with gas limit, except on the rare occasion to increase it if that is ever recommended, or you will run out of gas and the transaction will fail.

the gas limit is based on the complexity of the transaction being processed. Don't mess with the limit

[swift lance]

Ok, I'll wait for a better time when gas is low.
Thank you.

[cyan rampart]

Leave gas limit - if you're cheap you can set gas to something low if you're willing to be patient, but don't fuck with the limit, just the gas price you're willing to pay.

I've been known to set gas price to like 25-30 and wait for 8 or 10 hours.

[gloomy gazelle]

yeah you only make the mistake of messing with gas limit once... or never if you pay attention

[granite halo]

Hey, really stupid question, but when staking in the ILV/ETH pool, you are staking SLP right?

Which means you technically can't ever get your original ILV investment back(besides Rewarded IlV), but rather you will be able to withdraw the original SLP after 1 year???
If that is the case, what happens if SLP crashes?

[eager rover]

Your staking SLP, you can choose to lock up for 1-52 weeks or keep it unlocked. If SLP tanks it means ILV is also down

[granite halo]

So the SLP coin will always be tied to ILV price like a tether for ILV?

[manic brook]

Hey guys! Been reading this thread to better understand staking. If I'm investing $10K am I better off staking in ILV or the ILV/ETH pool? ILV/ETH quotes a much higher rate of return, and gas becomes less of an issue at higher amounts, but I don't understand the risk properly (impermanent loss went over my head.)

[cunning perch]

Hey. It's simple: If ILV pumps hard, to keep the balance, the pool will sell your ILV and buys more ETH so in the end you will have more ETH than ILV or vice versa. Also if both prices crash, then you know it's not a good sign. ALothough you are receiving more rewards which most probably would compensate your loss.

[queen horizon]

Easy and good explanation 👍

[swift lance]

OK, I accept the computed fees but the transaction takes too long on Ethereum. Avalanche C-Chain is more faster 1-3 seconds for sure.

[cunning perch]

You have to remember that ILV is not only about staking. Working with IMX for in-game stuff also justifies being on ETH and not other platforms.

[manic brook]

Got it, the pool trades to stay balanced, meaning I might end up with more or less of a particular asset at the end. With pooled the potential rewards are higher, but I'm accepting both an ETH risk AND an ILV risk. And if I believe that ILV will have a significantly higher growth rate that ETH, then potentially I should focus on ILV?

[swift lance]

Yep, you're right.

[cunning perch]

that's the idea. If you believe ILV will outperform ETH (which most of us think it would) then you might be subject to heavy IL (losing your ILV to ETH). if you wanna play safe, then single asset pool is your choice. If you take the risk, then the other one is. you can also stake in both, though you gotta remember that SLP requires more gas

[manic jacinth]

Might be a newbie doubt..just wanted to understand few things..if i locked ilv token for 3 months, then will what will happen to my initial locked token? Will it get credited to my wallet automatically or manually i need to withdraw it to my wallet? Second question, if i dont withdraw my initial toekn even after locking period is finished, will it still earn rewards?

[cyan rampart]

After your locked period expires, it will remain staked until you manually withdraw it. While staked, it will retain the weight you originally staked it at.

[manic jacinth]

Thanks 😊

[hot lynx]

Hi glad you mentioned IMX , immutable. If that token release gets an airdrop to ILV holders ... How do the staked holders get any ? When locked it's invisible to wallets.

[cunning perch]

for IMX related stuff, we need to wait for more documents. But It shouldn't be an issue if supposedly your ILV wallet is connected to your IMX one. We'd need to wait for those kind of announcements imo.

[hot lynx]

Np agree , I would like the team to note how they reward 12 months locked LP ILV/ETH holders when a drop occurs . My concern is our ILV is invisible on the public chain. Just noting for the team as I am a 52 week LP holder and I can see something like immutable or essentially other nft related CT maybe a good ecosystem play and I'd like to make sure that the good long-term 52 week hodlers don't miss out 💎🙏🏻🚀🌝

[weak lagoon]

@cyan rampart are the staking rewards from the 3m ilv pool? Or is there any correlation to trade volume?

[cyan rampart]

Staking rewards are from the staking rewards pool, which started at 3M tokens, yeah.

[weak lagoon]

Okay yeah, I just always assumed we got some return from transaction fees on the dex for some reason. Never staked before though.

[cyan rampart]

I'm not 100% sure how txn fees are handled in the SLP, they are almost certainly distributed the same as rewards (by share of the pool), but I'm not sure if they are factored into the APY listed. They probably aren't, since they depend on # of transactions - which would mean they would just be additional on top of the listed APY. I'm not 100% sure on how txn fees are handled though.

[weak lagoon]

Okay, no worries. Was just curious if you knew. Peace out for now!

[cunning perch]

well your ILV will always be in the website since you stake it there and you will get rewards based on it. If you keep using sILV, they you plan to burn it anyway. YOu will never lose any airdrops or rewards as long as you have ILV in either pool

[outer seal]

When is the best time to stake?

A 100$ fee for the first transaktion is way to much

[cunning perch]

The sooner you stake the more APY you get and therefore more rewards. But you have to be mindful of gas.

[cyan rampart]

Sooner is generally better than later (total rewards decrease over time), but you'll want to watch for the cheapest gas you can find as well.

I've noticed gas usually hits a lull in about 3-4h from now, but that's not guaranteed, just what I've noticed.

[outer seal]

Thank you. I will try again later then :)

[abstract comet]

wee hours of the morning Saturday and Sunday New York time seems to be when gas is lowest (from what I've observed)

[jovial zinc]

hi people

If i lock the LP for 52 weeks, can i claim the reward in ILV? does it go for the stake automatically?

[cunning perch]

hey. welcome. I already answered you in #💬〕general

[cunning perch]

it will not be automatic. you have to claim it manually occasionally

[lusty copper]

Hi guys! Can I stake Axies for ILV?

[cunning perch]

not now. The flashpool for Axie is over. XYZ on the other hand is running for now.

[lusty copper]

Oh no!!!!!!!!!!!!!!

[cunning perch]

all flashpools are only 2 weeks. who knows, you might get another chance later. This is the second flashpool for XYZ

[lusty copper]

Ok thx bro

[queen horizon]

goota be quick with these Flashpools

[hot lynx]

ILV only until the games are released in Q4 👍🏻💎

[cunning perch]

ILV only even after the game(s) is/are released for me 🙂

[unique yarrow]

Well just started staking, pretty stoked. This is cool stuff

[manic brook]

Hey Arash, I just wanted to say thank you. I can see you are taking a lot of time to help people here. I appreciate it.

[cunning perch]

Oh thx bro 🙂 always happy to help 🙂

[terse merlin]

Hey! I'm in the XYZ Flashpool, I'm wondering when block 13173742 is reached does the pool automatically close & the XYZ returned to my wallet?

[unique bear]

@terse merlin you have to move it manually back after mate

[cunning perch]

any kind of withdrawal need to be paid with gas. any transaction (aka smart contract) needs gas. Therefore you have to do it manually.

[unique bear]

Claim and stake your ILV rewards for 12 months

[cunning perch]

no need to stake your ILV rewards cuz AFTER claiming they will be subject to a one-year lock. Therefore claiming = staking 12 months

[unique bear]

@cunning perch yeah, sorry. It's an auto form of staking once claimed and gas paid

[terse merlin]

Got it. So any rewards earned are locked for 12 months & automatically staked?

[cunning perch]

12 month lock starts** ONLY AFTER** you claim the rewards.

[terse merlin]

Exactly. But only point paying gas fees once so might as well wait til the flashpool ends to claim & stake?

[cunning perch]

well depends on your possession and stake amount. If you have enough rewards that would justify the gas, claiming it occasionally is better as you'll get your rewards sooner. The reason the team has left claiming manual is to be free to choose when to claim and pay gas. You have to work on it to see what's best for you.

[terse merlin]

Thank you Arash. Your responses are super helpful.

[cunning perch]

No worries. Happy to help 🙂

[lethal kite]

best mod ever.

[cunning perch]

you're so kind 🙂 Others are way better than me and way more knowledgeable

[brisk surge]

i heard that illuvium is giving out game earnings to stakers, so how can we get the rewards if staking ends after 3 years ?

[cunning perch]

there is ILV left for in-game rewards, but hasn't been disclosed how and when and where it'll be paid afaik. Gotta wait for more details. Besides, if you stay staked you'll be receiving the same way you receive Rev. I believe it'll be added to the website when it's officially released.

[quick flare]

guys, when is a good time for lower gas fee? mine is currently around 80$ which is pretty too much compared to my fund 😩

[cunning perch]

Probably Weekends. Though it's just a mere probability and not a fact. it was around $30 this Sunday

[quick flare]

thank you, think I can take that

[cyan wagon]

Glad i made that staking on sunday...save me a lot

[manic jacinth]

Is there any staking calculator? Wanted to know how much we will get after locking period where we know locking period can be multiple number of weeks and which can vary..also 3% apy will get decrease in every fortnight..

[zinc trellis]

Can someone point me the info/videos for staking as I am new in the channel and cant find it ?
Thanks in advance

[manic spindle]

Pinned in this channel, also: #🥩〕staking message 🙂

[hot lynx]

3am

[fading nexus]

@manic spindle https://apy.vision/ This is a nice site to track the slp pool you own. Enter the app for it 😉

I don't know if you already knew thisone 😉

[unique bear]

@fading nexus what are the risks with linking your wallet with this app? Is there a way to do it securely?

[fading nexus]

are you linking your wallet or just pasting it like you do on etherscan?🤔 😏

[boreal oriole]

Hello, what does APY mean ? is ir award per year ?

[manic spindle]

Annual Percentage Yield 🙂

[boreal oriole]

Oh thank you

and is it better to stake on core or flash ? What's the difference ?

[manic spindle]

If you want to stake ILV then flash pools won't work, they are for outside tokens.

[unique bear]

@fading nexus definitely not Linking my wallet that's for sure! Paste option it is

[boreal oriole]

Oh right, and so does it say what is the percentage or is there any better staking place ? Because i see there are two options on core one at about 80% and the other one at 633%

i'm guessing it's smarter to stake in the second one...

[wanton nova]

For the second one your have to provide a sushi lp token by pairing ilv and eth. Liquidity farming comes with the danger of impermanent loss. That's why the apy is higher. Also it's more transactions and costs more gas

[boreal oriole]

Ah thank you

[whole relic]

Why is the token on ethereum? so expensive to move around or do anything

[wanton nova]

See pinned message:
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

[wanton nova]

Ingame assets will later be on immutableX and trading will cost almost no fees. Guess eth has many advantages when it comes to smart contracts. Also ilv will be long lived and with eth2 in a few month gas will be cheaper. Hopefully

[small wedge]

Just started staking! Was a long wait with yesterday's gas fees 😆
Just out of curiosity, where is the 'unstake' button? Couldn't seem to find it (not intending to use it anytime soon anyway)

[manic spindle]

Under "vesting" you can withdraw any ILV that is unlocked 🙂

[small wedge]

Oh sorry for missing that! Thanks a lot

[hazy token]

When do people here think there will be a downturn in APY on the SLP stake (not talking about the fortnightly programmed drop)? I am happy to get in now, because I am supposing that if we are at least 4 months away from release, the pool APY should remain fairly consistent until then, with a massive onboarding of investors/stakers on launch, and consequent drop in APY🤷‍♂️

[vital kayak]

THIS! 🙌🏻

I don’t even care about downturn. I care about getting in before institutions

[vital kayak]

@jovial moat

[hazy token]

yeah, as long as I can get 100% return on the initial SLP investment prior to launch, which atm is looking like about 45 days, then all is good

[vital kayak]

We in 52 weeks lock and doin all 52 weeks each future stake. This is a 5+ year project in our view

[hazy token]

In fact, it is absurdly good 😆

[wind walrus]

Not sure we will see a big dip until dev and team members tokens unlock.

[hazy token]

the unlock for sure is going to impact

[vital kayak]

And not to mention, they deserve to profit

[hazy token]

but if they sell, it will be different to if they go the SLP route?

[wind walrus]

Yep, I'm sure they won't sell a lot because they want RevDis also

[twin furnace]

Oooo that is a nice tool! Thank you for sharing 😄

[wind walrus]

The market will buy them up and stake. Hopefully by that time the APY will be lower and they will just add to ILV pool

[vital kayak]

I was in other big NFT spaces where my fellow community members , even youtubers, are concerned there may be whales that can screw with ILV like they did with the other tokens that have 500 BILLION supply. I’m trying to show them this unique tokenomics is closest thing to “whale proof”. Especially at only 10 million supply max

[wind walrus]

There are whales for sure but anyone will a few coins can double or triple their bag very easy. They receive RevDis and buy more tokens.

[wanton nova]

What does that mean?

[wind walrus]

He is a youtuber that talks about illuvium

[wanton nova]

thanks

[vital kayak]

Yeah i wanted to show him that great tool!

[chilly flare]

Can I use illuvium stacked in game?
If not: Is there any way to remove illuvium before the date specified in Stacking?
I got my calculations wrong in the stacking.

[brisk surge]

If you are referring to sILV you can use that in game.

[wanton nova]

you can't use illuvium ingame. you can claim your staking rewards as sILV and use sILV for some (all?) ingame purchases. Otherwise Eth is the game currency

[chilly flare]

Stacked illuvium on "illuvium Stacking CORE"

[hazy token]

what you can do is claim sILV as a reward and use that in-game iiuc

[potent sable]

Hey guys, what do I stake for the sushiswap staking pool thing? its eth and ILV? or eth and SLP?

[wind walrus]

Did you lock or flex?

[wind walrus]

Sushi pair is ILV ETH. That will get you SLP then stake in pool

[potent sable]

I apologise but that doesnt make any sense. So the rewards are SLP?

[chilly flare]

i locked it... i calculated 15 aug 2021 to 20 dec 2020 🤦‍♂️ = 34 weeks

[brisk surge]

The rewards are ILV or sILV and they are from both ILV only and SLP pool.

[wind walrus]

No. Once you stake you receive ILV as rewards

[potent sable]

okay Im getting lost, so I stake 500$ eth and 500$ ilv and then I claim sILV right? where does SLP come into this?

[brisk surge]

If you stake ILV and ETH that is providing liquidity which is SLP (Sush Liquidity Pool).

[potent sable]

also with 500 and 500 am I getting rewards based on 500 or 1k?

[wind walrus]

I suggest reading the pinned Info on this channel. Also watch a YouTube video

[vital kayak]

You get to CHOOSE your rewards as either more free ILV or ingame token sILV

[brisk surge]

!staking

[woven ibex]

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

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

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

[vital kayak]

https://youtu.be/kuvKyV4B_N4

[wind walrus]

With 500-500 you will need to consider gas fees for that low amount

[potent sable]

well ultimately its up to me when I claim. its not like im forced to dish out the gas fees every day??

[brisk surge]

Rewards are block by block you can decide whenever you want to claim based on amount of rewards + gas fees for claiming.

[potent sable]

you can set like an auto claim?

[brisk surge]

No it's a manual claim.

[wind walrus]

Yes. Completely up to you. To swap and stake would be about 150 to 200 depending on gas fees. Then you can claim whenever the rewards make financial sense

[potent sable]

I guess I just dont understand what exactly sushi LP is

[brisk surge]

!contract

[woven ibex]

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

[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

[chilly flare]

i locked on Stacking for 34 weeks i can clain it before this date? 😦 I don't think so, right?

[lofty forge]

$80 to stake = =

[potent sable]

Ohhhhhhh so you dont do this 50/50 thing on the illuvium website, you get the staking tokens that you stake!! wow thats super helpful thank you so much

[lofty forge]

swapped for ilv added liquidity everything already added up to $120 hot damn and I still havent paid for staking yet lmao

[brisk surge]

You claim your rewards as time goes by there is no minimum or maximum amount to claim you choose what you want to claim when you want to claim.

[wind walrus]

Correct. If you are locked the only option you have is to claim SIlv as rewards if you want in game currency before your tokens unlock

[wind walrus]

Yep. That's why I warned lucifer about 150-200 in fees

[chilly flare]

i was wanting to Claim on 20 dec. but I miscalculated. now just on 20 april 2022 😦 i am confuse if i'll have ilv or silv to play.

[lofty forge]

should i wait until fees drop? or just start staking? the fees are like 5-6% of my stake lmfao

[wind walrus]

I would wait until gas drops to 20-30 gwei.

[wind walrus]

You can claim Silv when your rewards are high enough to justify gas fees

[lofty forge]

hmm sounds good. prob gotta wake up in the odd hours for that to happen. For the LP stake, are the rewards also locked for 1 year?

[wind walrus]

You can choose flex or locked. You can lock from 1 week to 52 weeks

[chilly flare]

thank you for help

[lofty forge]

so if you lock it, you can claim in sILV, if not its just ILV? sry hope u understand what i mean

[wind walrus]

You can choose either each time you claim rewards. So one time you could do silv and the next time you could do ilv

[wind walrus]

NP.

[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.

[lofty forge]

As in for locked, you only have the option to claim sILV while its still being lock correct? Where as for flex u can choose either?

[manic spindle]

Locking only affects token weight. It has nothing to do with the type of rewards. That's always either ILV or sILV depending on your own choices 🙂

[lofty forge]

Oh okay i understand now! If I choose to claim ILV, can i swap it for sILV later on, even when its still locked?

[wind walrus]

Nope. It locks automatically for 12 months

[lofty forge]

ah ok sadge - was thinking of a scenario maybe one moment i want more rewards, then suddenly i actually want to play the game

[wind walrus]

I suggest reading the pinned info on this Channel and get an understanding of how it all works first.

[wind walrus]

You could just save up some ETH and just claim ilv so your bag grows.

Smart. There are a few good videos on YT as well

[lofty forge]

im going to stake the Liquidity pool, im thinking it will hold the apy until launch or at least beta

[balmy niche]

I staked my ILV but how does the rewards work ar you payed out every week or month like with ada i can claim every week

[manic spindle]

This was explained to you here already: #814313779696238642 message

Rewards are paid out every block so roughly every 15 seconds. They pile up until you claim them. sILV is unlocked right away. ILV is locked for 12 months from the time of claiming.

[wind walrus]

APY won't hold unless ILV rises in price significantly. Every two weeks the APY goes down 3%. Still fantastic but it will go down over time

[balmy niche]

How is it? When i stake my ada i know that every week it will pile up some amound idk if it works the same for ILV thats what i wan't to know and i'm not trying to be rude in anyway if it come's over like that

[manic spindle]

You get rewards every 15 seconds based on the amount you staked, their token weight and the APY in your pool. It is up to you to decide when you want to claim them.

It really says all in:

!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.

[lofty forge]

ok ty!

[wind walrus]

You decide when to claim. Once you have enough to claim that is worth it regarding gas fees you can claim.

[balmy niche]

Oke

[wind walrus]

Some people wait one week some wait 3 months. All depends on your investment and accrual rate

[dusk siren]

I have to pay gas fees twice between buying ETH - converting to ILV - staking, right? Once when converting once when staking?

[wind walrus]

Yep. Every transaction takes gas. Staking cost more than swapping for some reason. Normally about 150-200 from start to finish depending on gwei. Also depends on if you're doing ILV or SLP pool

[dusk siren]

Shame I only have enough free money for 1 ILV considering that amount of gwei

Time to lock that 1 ilv for 12 months and go pray 🙂

[wind walrus]

One is better than none.

[wind walrus]

Staking in ILV pool takes less gas than SLP pool

[dusk siren]

Thanks yeah I'll see it how it goes. Hopefully can stake about 1 ILV every month in the ILV pool. Pretty new to the whole crypto and investing thing, but it seems worth doing.

[wind walrus]

Yep. The more you learn about illuvium the more bullish you will get.

[pulsar shore]

Can somebody help me. Where should i stake on ilv or slp? Thanks

[brisk surge]

!staking

[woven ibex]

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

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

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

[brisk surge]

As fair as staking goes for either ILV or ILV/ETH that depends on what your timeline with staying with the project is and what your goals are.

[pulsar shore]

If i believe in project also plan on staking long term.. where do u think i should put it?

[wind walrus]

Depends on amount invested.

[brisk surge]

I would suggest SLP so you can accumulate as much tokens 60% more compared to the 20% of distributed rewards through the ILV only pool.

[pulsar shore]

Ok thanks sir

[brisk surge]

Make sure you to watch the entire video https://www.youtube.com/watch?v=C6YugU4zZr4&t=1s and if you have any questions feel free to ask them.

[lofty forge]

100 gwei 😄

[simple pine]

Sorry if this has been answered, but how long do the core staking rewards run?

[manic spindle]

Yield Farm rewards from staking last three years and started about 7 weeks ago 🙂

!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

[simple pine]

Wow 3 years is awesome

[wind walrus]

3 years total but APY will reduce by 3% every Fortnite

[neon isle]

Lets say i want 2 ILV worth staked at at SLP pool. How much do you think i need considering the gas fees from transferring from binance to metamask and then to illuvium website. Assuming the cost of the 2 ILV is $1k would an additional $100 be enough to cover the totla gas fee so that at least 1k will remain untouched?

[halcyon oracle]

+1k$ETH

[wind walrus]

I would say 150-200 for complete transaction. Wait until gwei is lower if possible

[wind walrus]

If you're doing SLP you will need matching ETH as well

[elder dawn]

check out the pinned calculators. at the start up, between the swap to get ILV, pooling on sushi, then staking, expect around $100 depending on gas. i just did it again last night and just on those transactions it was $120+. you also need probably $20-50 depending on gas every time you claim.

[neon isle]

Thanks!

[brisk surge]

Do we also earn the 0,25% sushiswap fees for being LP??

[wind walrus]

Yes

Yep.

[cunning perch]

Make a plan, stick to the plan and you'll make it.

[unreal pelican]

Hey guys - just wanted to check if I made a noobish error today, I staked some XYZ in the flash pool a few days ago, there was a countdown that suggested to me the pool was only open until it expired. Did I get confused and that was a countdown until the pool would begin accruing rewards? In other words, are the rewards for XYZ staking in the flash pool currently ongoing?

Did I withdraw my XYZ a couple of hours after it actually started accruing rewards lol?

[cunning perch]

Hey. Flash pools are two weeks only. When they are done, you will be allowed to withdraw your stake. I really didn't get what you have done, but since the pool is still up, you should be able to stay staked.

[unreal pelican]

When did the XYZ pools start accruing rewards? I though it finished today, and withdrew my stake. But now I think I screwed up and it only just started lol

[cunning perch]

It's been up for some time. you can compare it to other pools (SNX or AXE) they are done, but you can still stake XYZ, but I don't think it's wise now as gas is crazy high and unless you stake a huge chunk, you won't get that many rewards anyway.

[unreal pelican]

cheers

[wind walrus]

Look at the pinned spreadsheet in this channel.

[neon isle]

Someone made an estimate considering reasonable variables on the pinned messages heee. He assumed it would be around 226% more or less.

[paper oriole]

does the 12 month lock also means the APY is locked

[manic spindle]

No, APY is dynamic regardless 🙂

[paper oriole]

lol shucks

[noble bridge]

so I have tried to read through spreadsheets for a larger investment anyone know optimal time to collect your rewards, from one of the spreadsheets it looks to be every 4 weeks. Also if the bonus is waiting to be collected it doesnt compound until you collect correct?

[wind walrus]

Correct. Does not compound until you claim. Claiming often is good as long as gas fees don't take all your profit

[noble bridge]

lets say you have larger investment ie 50 k plus

[wind walrus]

You could probably claim daily if that's the case.

[noble bridge]

in slp how often would you collect the spreadsheets all varied

i think u would still get crushed by gas fee daily, also what hours seem to have best fees

[wind walrus]

It all boils down to reward profit vs gas fee

[spiral summit]

Do we have to claim it , or can we let it sit until our stake is up ?

[wind walrus]

For me in the USA it's from midnight to 5am

[noble bridge]

yeah I get the concept but the issue is the loss of compounding vs gas fee really

so if u do it daily you are lookg at like 150 a day is there anyone who is actually done the calculations

[wind walrus]

You can let it sit as long as you like but if you are going to claim in ILV you won't get compounding until you claim

[wind walrus]

The spreadsheet in the pinned section can be modified to your numbers

[wind walrus]

If you want to claim Silv then let it stack until you need it. Silv does not compound

[noble bridge]

yeah when i try and factor into the spreadsheet graph one

APY% for ILV pool at token weight 2 what number do i use for this it has 90% listed but i am unsure of what this exactly is

[wind walrus]

Core ILV at the moment is 82% the sheet should show decrease over time.
Change APY to 82% and input the total amount of ILV you plan to purchase

[noble bridge]

even if all mine is vested in slp

[ornate cypress]

I have somewhat of a calculation to determine when to claim

[spiral summit]

Ahh ok thanks @wind walrus

[midnight crow]

I put into the ILV pool for 4 weeks. What happens after 4 weeks? Does my principal automatically stay staked with the same reward apy, or does it stay staked and move to the flexible apy? Or does it stop being staked? Thank you in advance for clarification.

[wind walrus]

Oh, do the same but input your numbers in the SLP sheet

[manic spindle]

Locked deposits remain staked when they unlock and they keep their token weight bonus from locking until withdrawn 🙂

[ornate cypress]

Take your daily earning in rewards, then multiply that by the apy if its 80 percent multiply by .8 then divide that result by 365 and that will show you how much your claim reward earns on a daily basis so use that to determine when to claim fees

[wind walrus]

It unlocks for you to remove if you choose. The APY is always flexible. Locked doesn't mean APY is locked

[noble bridge]

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

[midnight crow]

Thank you. I meant the multiplier on the APY. That stays the same even after it is unlocked? It doesn't revert to 1, right?

[midnight crow]

Thank you for the clarification. Another question. If I have some unlocked staked ILV and want to unstake it, does that incur a fee, gas or otherwise?

[wind walrus]

Your weight will stay the same as long as you don't remove.

[manic spindle]

Yes, withdrawing (done under "Vesting") is a regular transaction on the ETH network and does cost gas

[midnight crow]

Thanks.

[wind walrus]

NP, that's why we are here.

[noble bridge]

does this look right

its basically the net value gained under the spreadsheet that determines whether you should do it weekly vs every 2 weeks

[midnight crow]

Thanks. The ILV rewards from the Core ILV pool will continue to compound apy with the same weight? In other words if I staked 10 ILV and in 4 weeks earned 1 ILV reward and then removed the original 10 ILV (with a gas fee), the 1 ILV reward that I didn't (and can't) unstake, does it earn APY and at that same weight, or does it only earn apy after it is claimed?

[noble bridge]

and it uses 30 for gas price is that really ever the gas price?

@ornate cypress the problem with your formula is it doesnt calculate the loss on not compounding when you hold longer in exchange for lower gas fees

[final steppe]

That 1 claimed ILV would be vested in the ILV pool with a token weight of 2.0 (the max value) and locked for 12 months 🙂 And to clarify, withdrawing the 10 staked ILV will have you automatically claim that 1 ILV reward.

[wind walrus]

The sheet numbers don't match your investment. Did you I put your numbers?

[noble bridge]

yes i put my numbers in

Current SLP Pool Rate 450% INPUTS Enter inputs to predict value of Illuvium
Current ILV Pool Rate 82% SLP staking over time.
SLP Stake (in SLP) 36.14 These are estimates and depend on
Your SLP total initial investment $97,144 number of people staking.
Predicted value of ILV in 1 year $550 I will update as more information is
Predicted value of ILV in 3 years $2,500 available, but it's a rough guide to
expected value of rewards and rev dis
Predicted monthly Revdis (1 year) $10 (SLP total initial investment is the value
Predicted monthly Revdis (3 years) $50 of ETH + ILV when you pooled in Sushi)
Ave Gas Fees per reward claim $60
Calculated values
In 1 year In 2 years At end of rewards
ILV earned from SLP rewards 621.093 787.472 830.303
ILV Value from SLP rewards $341,600.99 $1,200,894.91 $2,075,757.62

Claiming weekly    Claiming biweekly    Claiming 4 weeks    Claiming every 12 weeks

Value from ILV rewards - 1 year 131.440 129.6671573 122.9511336 96.40990119
Value from ILV rewards - 2 years 213.805 207.4828394 204.6668777 177.5546023
Value from ILV rewards - full term 233.498 225.9309082 226.7745523 203.8107566
Gas fees $9,120 $4,560 $2,100 $720
Net value gained $574,626 $560,267 $564,836 $508,807

End of term (mid 2024) Claiming weekly Claiming biweekly Claiming 4 weeks
Total ILV Owned 1,063.80 1,056.57 1,050.67
Value ILV Owned $2,659,504 $2,641,435 $2,626,667
Annual Rev Dis $638,281 $633,944 $630,400
Net gain $2,553,239 $2,539,730 $2,527,422
Total ROI 2628% 2614% 2602%

is it the net value that determines ie 1 week claim 574 k

Net value gained $574,626 $560,267 $564,836 $508,807. these are the values for week 1, 2 week, 4 week and 12 week

[wind walrus]

So by those calculations it looks like weekly is the best option but not by a huge margin compared to biweekly

[midnight crow]

Ok, thanks. When that happens (Original principal removed and 1 ILV claimed), is that considered 1 gas transaction or 2? Also, if you don't remove the principal and leave the 1 ILV unclaimed, the principal continues to earn APY, but does the unclaimed reward also earn APY?

[noble bridge]

if i have blended slp like some is locked at 630% and some is locked at 360% when I withdraw will it withdraw for both, also if I want to add to my stake i have to cashout rewards first correct

@midnight crow unclaimed reward does not get apy

when they are figuring gas price of 30 arnt there more fees than just that gas price in the spreadsheet for cashing out reward

[unreal storm]

Can someone tell me if I lock my stake does that mean that's it? I cannot contribute to it any longer? I know there is stuff to read but I am at work and I don't have time to pour through all the documentation.

[fast crest]

How can the ETH price fall with all these fees xD

[wind walrus]

This question might be better for @manic spindle

[final steppe]

There will be 2 gas transactions when withdrawing your stake. 1 for the withdrawal and 1 for the claiming of rewards which will happen one right after the other.

The unclaimed rewards will not earn any APY until the claim transaction is processed 🙂

[unreal storm]

I can only afford to buy 1 $ULV is that ok I am a poor? lol

[manic spindle]

You don't have any blended stakes in the same pool. If you stake amount X at 500% APY today and amount Y at 200% APY in 2 months, then both stakes are down to 200% APY. Locking does not retain the APY.

APY is dynamic.

[unreal storm]

srry I said ULV I meant ILV TO LATE I swapped it. I am a proud owner of 1 $ILV yaaaaaaaaaaay me!!

[final steppe]

You can stake additional tokens and the rewards will pool together so you can claim them together. But each stake will have its own vesting period. So when they unlock, you have to withdraw each staked balance separately (as of right now).

[midnight crow]

Speaking of dynamic APY, when I started staking two or three days ago Core was at 46% and now it is at 82%. I thought it was supposed to go down, but maybe that is on a larger scale. I am not complaining.

[final steppe]

Hmm 46%? Sounds like that may have been the APY if you staked flexible.

[manic spindle]

The APY shown when checking the core pool page is with a token weight of 2.0 so double of the flexible staking APY. You probably staked without a locking period then 🙂

[midnight crow]

Oh, that explains it. I think they should "advertise" on that page with weight of 1.

[midnight crow]

I misunderstood thinking that the APY on the main page was for weight of 1.

[spiral summit]

So if I staked at max apy, it’s not guaranteed to stay the same apy ?

[midnight crow]

No, I think it is variable and in the down direction 😩

[final steppe]

Correct. The APY is variable and can change as prices of the tokens fluctuate and people enter/leave the staking pool :

[manic spindle]

Well, when you click on "Stake" it clearly shows you exactly the APY you are staking at 🙂 But if you'd like more clarity on the Core Pools overview page, head over to #814313819185741845 and let Carlos know 🙂

[paper oriole]

Question on the rewards ILV. The accrued ILV gets awarded on a months basis? If so, can I withdraw those awarded ILV immediately?

[final steppe]

As your rewards accumulate, you are free to claim them whenever you'd like! You will have to pay a gas fee each time though.
If you choose to claim ILV, they will be vested and locked for 12 months in the ILV pool compounding your rewards.
If you claim sILV, that is available to you immediately with no lock period.

[final steppe]

!ILV See below for what the ILV token can do for you

[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]

!silv And see below for sILV and hopefully this will help you decide which rewards you'd like to claim 🙂

[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.

[paper oriole]

Ah I see, so each time I claim my rewards, that “batch” will be in a new 12 month lock period?

[clear cape]

Not really, they want it to show the best APY. Once you do it, it isn't misleading because you can physically see what APY you will get in return. It is more of an issue on your behalf (No offence)

[paper oriole]

Thanks for the clarification, @final steppe!! Very helpful

[final steppe]

If you are claiming ILV, yes. Each claim will lock those rewards in their own 12 month vesting period.
And during that time, they're vested in the ILV staking pool with a token weight of 2.0. So earning the max APY of that pool 🙂

[midnight crow]

Why show the best APY only? Why not show the range: 41% - 82%? I agree that you can see the APY on the next page which dynamically changes, so I was under no illusion when staking, but I don't think it would hurt to show min/max on the previous "advertising" page. More information, in my opinion, only helps.

[unreal storm]

Thank you to whom ever answered my question. 💯

[midnight crow]

Thank you for letting me know. It is nice to have a platform that is open and responsive to feedback.😋

[noble coral]

How much ILV do you have to have before you can claim it?

[weak lagoon]

Up to you, just consider the gas fees when doing so.

[noble coral]

i mean to claim the ILV that ive earned ill show you a screenshot one sec

[clear cape]

u can claim it whenever u want

[noble coral]

i think you have to wait until a certain about to claim it cause i have 0.0004 and cant claim it?

only had it in for a couple hours

[cunning perch]

yes wait until the gas justifies the claim. you don't wanna pay more gas than the stake you're claiming

[noble coral]

but does it not just compound im not taking it out to my wallet again?

[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.

[cunning perch]

I recommend reading above 👆

[noble coral]

yea thanks

can you take the sILV out instead of waiting the 12 months for the ILV? sorry for all the questions just trying to figure this out 👍

[manic spindle]

As written in the message above, sILV is unlocked so when claiming your rewards as sILV you get them right away. Only ILV rewards have to vest 12 months 🙂

[noble coral]

yes ik that i read it im asking can you take this token out for real money into say your bank?

i assume so???

[clear cape]

out of curiosity why did u want to claim that much

[noble coral]

just to try it out thats all

[cunning perch]

gotta sell it for USDC or USDT and then swap that with your currency and then withdraw to your bank.

[clear cape]

u will lose 70-100 usd if you claim it, thats why i said it due to gas fees

[noble coral]

aw even with the sLIV okay

[cunning perch]

sILV is ONLY used in game and holds no Monetary Value outside of it

[manic spindle]

Except for land sale purchase (and possibly other sales) 🙂

[noble coral]

but can you still swap it for real moeny?

[wanton nova]

sILV can't be swapped unless someone creates a liquidity pair on a dex

[noble coral]

so whats the point in the sLIV to buy charectars in game which you can sell?

[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.

[unreal storm]

🥰

[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

[brisk surge]

Can someone dumb down staking for me. I see there is an ILV pool at with 82% APR, and that it has to be locked down for 12 months. Do I get it all back as ILV and able to convert it back to ETH or whatever I want?

[manic spindle]

!staking

[woven ibex]

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

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

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

[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.

[midnight crow]

My understanding is that there are two pools. One Core and one Sushi LP pool. For each pool you can lock ILV (for Core) or ILV/ETH (for Sushi LP) for between 0 and 12 months. For each pool you can choose to get it back as ILV or sILV. You will be able to convert ILV, but not sILV (at this point it is billed as only useful in game) to ETH.

[crude schooner]

Hello, how to see my staked LP on https://staking.illuvium.io/staking/core ?

[cunning perch]

you can see it on the Dashboard section

[final steppe]

Or if you're looking to withdraw or see how much time left on your locking period, check the Vesting tab 🙂

[crude schooner]

@cunning perchThx

[cunning perch]

anytime brother 🙂

[glossy dirge]

I have a question about slp. (I should have asked this before staking 40% of my funds into slp lol.) After a year of staking, will i have more than my initial investment given that both ETH and ILV increase at the same rate? or I will get more since the price of both tokens increased?

[clear cape]

The rewards paid you get from staking will return you more than the initial investment, and your initial investment will also increase due the price appreciation of your tokens.

[glossy dirge]

Sweet! im good then. 🙂

[clear cape]

sure are 😉

[glacial lodge]

Hey, i have a kinda silly question: What would u guys recommend for me to stake as minimum (and in both slp and ilv or just ilv)?

[wind walrus]

SLP 2000+ ILV 500+ when Gas is low

[jaunty field]

Can someone clarify if staking ILV prohibits you from using it once the game is live? How do you get sLIV as I understand that is the currency you use in game? I just converted about $1,000 worth of ETH into ILV but now unsure what to do

[glacial lodge]

and u would set that as the ultimate minimum for seeing profit?

[trail hornet]

Spelling issue on staking page.. someone spelled “losing” as “loosing”

I’d post the picture if I could but no pictures allowed here. This is on https://staking.illuvium.io/rewards

[wind walrus]

Nope. You will profit with almost any amount over time. That's just a baseline to not get robbed with gas fee

[clear cape]

where on the reward page is it

[wind walrus]

ETH is the main currency in game. Silv can also me used and is earned while staking

[glacial lodge]

oh okay, makes sence - as of rn i dont have much money for investing so ill look into it - ty btw

[trail hornet]

Ctrl-f loosing. “Avoid loosing fees in failed claims” at bottom line of mobile metamask disclaimer

[noble bridge]

anyone concerned about coin flooding reducing price, found interesting article. I know the idea is it will be offset by distributions.

Key Major Unlock Dates & Schedule

Tokenomics are a critical aspect to valuing cryptocurrency projects. While the current market cap of Illuvium sits just over $300 million, at a fully diluted valuation, that equates to a little under $5 billion. Major unlock of tokens present opportunities for selling pressure as early investors and token holders get their opportunity to cash in on gains watched while waiting for their tokens to become liquid. For ILV, the first major unlock event will occur in March 2022, when the Team, Seed, and Upper Management tokens will begin their unlock. At that point, an additional ~214k tokens will be unlocked each month for the next year. Initially, the pressure will be greater, with circulating tokens jumping over 33% in March 2022 from the current 634k up to 848k. Each month another 200,000+ tokens will find their way to the market, with decreasing impact over time on a percentage basis.

Circulating Tokens with Major Illuvium Events

Adding to the selling pressure will be the unlock of staking rewards, which will occur beginning in July 2022 for those who claimed their rewards within the first month of staking. Given my interactions with the community, I anticipate a large number of each month’s distribution to unlock about one year from its issuance. Staking rewards began with 100k tokens distributed in the first two weeks, beginning at the end of June 2021. The number of rewards decreased by 3% every two weeks thereafter. This gives us our second major unlock date of July 2022, when the number of circulating tokens will increase from just under 1.5 million in June 2022 to nearly 2 million by the end of July 2022, an increase of over 25%.

[cunning inlet]

$315 to stake 🤣

[wind walrus]

Nope. Unlocking is happening slowly over a few years. Should not be an issue

[noble bridge]

it happens rather quickly beginning march

[clear cape]

we talked about this a few times in the chat

If u want, u can go back and read it to see people's inputs on the topic

[noble bridge]

goes from 634k febuary to 848k march and increases by 200k plus tokens per month

[wind walrus]

Even if unlock there is no reason to believe they would dump. A lot will be staked to earn RevDis

[clear cape]

The price will go from 1500-2000 or whatever it is by then to maybe 30-40% down temporarily at the worst case lol.

You would still be up 2-3x from here and that isnt taking into account rewards.

NFA

[noble bridge]

assuming the game is out and we are getting distributions

[clear cape]

That is the risk you take yes

[noble bridge]

but if you think about it you possibly double the supply by july/august

[jaunty field]

Ok thank you! When doing the flexible staking, will you be able to convert the ILV back to in game currency once the game is launched?

[noble bridge]

but if people dont withdraw it that reward still gets the 2.0 weight correct?

[clear cape]

The rewards need to be claimed for the 2.0 weighing, until you claim it, it does not compound

[noble bridge]

no i mean its claimed but not withdrawn even after the 1 yr period

[wind walrus]

True but also full game launch and mini game. Revenue coming in and fomo, coins will be eaten up

[noble bridge]

so you claim bonus->1 yr vesting gets the 2.0 weight, its able to go into circulation march but people want to keep getting distributions do they have to restake it or can they leave it there and you get distributions on it

[wind walrus]

Yes. You keep the weight as long as you don't pull out

[clear cape]

easily, i said this in my screenshot. if the demand matches or exceeds the added circ supply, it wont matter. but i said maybe the fud will make it dip slightly. people who dont get into this project due to this are going to miss out so hard

[jaunty field]

why is it almost $600 to stake about $1k worth of ILV right now?

[clear cape]

Also eide i bet u dont know that there will never be 10 million ILV tokens in circ supply, when sILV gets claimed, thats 1 more ILV that never gets minted.

[noble bridge]

i mean price is determined by price/demand so i expect like you said that it takes 30-50% drop depending on how many people sell there vested shares, but shares should appreciate exponentially before that point if the game is out

yeah its burned ilv as its claimed i read that @clear cape

[wind walrus]

Gas prices. Wait until gwei is lower

[clear cape]

Yes i did mention in my analysis that i believe due to the FUD & the event, price is vulnerable to pull back. But if you are in early, it wont matter because you will be up so much by the time that occurs

AND the main thing is that i believe it will be temporary...i think that event is insiginifcant unless you cared about the short term time frame during those months.

[noble bridge]

yeah if you believe in the project its stupid to pull out funds with the apy and distributions as long as the game is good

i just think there timeline seems to ambitious,

but i am already all in on the hopium, so i really hope demo comes out this month

[clear cape]

Yep i agree with you 100%. if you do not believe the project as much as i do or others, then i can see why you might be worried on your own personal end for legit factors like game being delayed, flopping etc :))

I also do agree that they are really walls against the deck..the main thing for me even if it gets delayed, it isnt going to kill the project or do anything, so it doesnt matter in the long term outlook. that is my opinion

[noble bridge]

yeah there funding appears to be good 4 yrs i hear

[clear cape]

Just believe me, i watched and read enough about kieran and the team to see this project's vision. They are in this to create an absolute monster of a game, they truly are set on that.

[noble bridge]

but that might be at there current burn rate and i think they plan on hiring alot more people, but still sounds like there very well funded

[clear cape]

They have 2-3 years of runway, so yup, funding is 0 issue

[noble bridge]

yeah i have been watching all his interviews, i definately believe that it is just extremely ambitious, so i think the timelines are prob off

i think as soon we can see some gameplay i will feel much better, its world apart in artwork compared to anything else out there

[clear cape]

I agree. It is very possible the game does face a bit of a delay. My argument? We have rewards, early enough before gameplay trailer etc to offset any negative price action as a result.

Another point is even if the game is delayed, i can imagine it being only another 2-3 months.

[clear cape]

it's exactly whats lots of people are waiting for. im just in here early balls deep because i have a burning conviction that this team and ILV is going to be successful. thats my belief

btw we are going really off topic so we should talk in #💰〕token or #💬〕general

[noble bridge]

hey these are all effects on staking

[clear cape]

true 😋

[noble bridge]

so i guess to limit exposure on staking if you were nervous you could lock your stake until febuary

[bronze heart]

Is revenue distribution active?

[noble bridge]

i think first distribution will be after the land sale

[bronze heart]

so i should wait until thats announced to claim rewards?

[clear cape]

thats what i was decding on when i put in my stake. i didnt due to staking apy and also the token lock weight of 2.0 = higher revdis

[eager rover]

The rewards from staking is different to RevDis

[bronze heart]

I thought you had to claim your rewards to start getting RevDis on it

[clear cape]

You do. edit : i agree with what you are saying regarding claiming the rewards, not sure if im wrong

[bronze heart]

so the claimed rewards will have extra weight with revdis depending on the lockup period correct

[clear cape]

But your rewards you claim get staked at whatever token weight and then will be giving you revids as far as i know

[clear cape]

I believe this is the case. I do not think you get an automatic 2.0 staking reward if your lockup contract wasnt the same

[final steppe]

All claimed ILV rewards will vest with a token weight of 2.0 and be locked for 12 months.
So yeah, they could have extra weight compared to your original stake if you chose to stake flexible or lock for less than 12 months 🙂

[bronze heart]

got it thank you

[noble bridge]

so even if you staked until fixed date of feburary, and you were worried coin would dip with release of more coin to the market, you could trade your underlying initial investment but still would not be able to tap into rewards for at least year from when you redeemed the reward

[clear cape]

correct

[noble bridge]

just an idea for people who are nervous about dilution

[clear cape]

I was thinking of this approach but i valued the extra few hundred % in APY over a short term trade.

Also due to the 2.0 token lock weight meaning i get 2x the revdis.

[noble bridge]

or possibly opportunity to buy more at lower price and restake it

i split mine so i did half that is only vesting for 4 months and half vesting for 1 yr

[clear cape]

Also the risk is that the price doesnt even drop and i just said goodbye to lots of potential rewards. this project is long term for me, so i didnt plan on taking my chances when rewards r at stake too personally

[clear cape]

Yeah this is a solid approach too, you have something to do either way. like we all should do in all investing, hedging your bets

[noble bridge]

yeah i did it at the beginning before i had as much understanding as i do now, but i will prob invest more in the longer period

[light stirrup]

Guys, what do you recommend to stake ILV or sushi LP?

[noble bridge]

i think you might still get 2x weight on the rewards as long as dont withdraw them while they are vesting

[clear cape]

2.0 on initial investment i mean, that being said, idk how it works with Sushi LP. will 100% of my stake be considered or just the part thats ILV, probably only half of it lol. but yeah apy makes up for it...u know when we go up eide, apy generally goes up too. we might be looking at a 700-800% apy on a sudden price spike

[noble bridge]

yeah its the initial investment that wont get that weight roughly 1.33 for 4 months, but the bonus you make on that I think still does get 2.0 weight while its vesting

[clear cape]

now we just patiently wait for the game trailer :p

[noble bridge]

depends on the amount investing, and the fees you want to pay, how long u plan on holding

[gaunt marlin]

Why are the values asymptotic at the end of the time series? Trying to understand why the relationship is concave downward.

[noble bridge]

yeah when the trailer drops we will get some impermanent loss

every 2 weeks the percentage paid out drops

[noble bridge]

every two weeks the amount paid out drops, also as more people join it the amount drops

[vapid fox]

appreciate you sharing what you know. I'm currently staked with ILV and am looking to stake additional. considering doing sushi LP this time. I've read on impermanent loss and don't know if I've quite grasped it. would be interested for you to expound on what you mean by it in this context

[noble bridge]

https://www.publish0x.com/ilvfi/staking-illuvium-ilv-part-1-staking-basics-xelemgg

[clear cape]

yeah this incoming impermanent loss gonna be a bit nasty

[noble bridge]

theres video on the bottom about impermeant loss, basically if ether and coin do not move in conjunction there is arbitration and we get the lesser of the two currencies at the end

[elfin wren]

I know it’s ultimately up to me and no financial advice is getting throw around in here but I guess I’m asking if personally you had 1k to put in would you go for 1 sLP and stake for the year or 2 ILV and stake that? Just wanna hear some different opinions on it

[noble bridge]

well the gas fees are alot for slp

somewhere between 100-200 everytime you cashout reward

so you might burn alot of ether doing it so as long as you have extra money for the ether why your funds are locked up

its reasonable, but i think slp is especially rewarding for bigger investments imo, since the gas prices are the same essentially but u get much higher rewards

[clear cape]

eide r u in the camp that the IL will not be as significant due to the rewards?

[noble bridge]

so just assume everytime u want to vest that reward its going to cost you double fees compared to the other one

[wraith plinth]

Can you unstake early from flash staking? If so, how? No unstake button.

[mint cave]

vesting -> withdraw

[noble bridge]

well depends on the time line remember for us to receive distributions games needs to be released which will help offset the loss, along with the higher rewards, but if ilv goes to 2500 a token and etherium goes to like 5k its roughly 25% loss without including fees

but i still think the rewards outweight it

because you are still getting the rewards in ilv, i guess it becomes bigger issue if ether goes up and ilv goes down

[clear cape]

Yeah that makes sense. Which is very unlikely the latter, unless ilv flops. which means we r fucked anyways

[noble bridge]

basically you lose more than 25%, however you get bonus dividend in the better appreciating currency assuming its ilv(ie it doesnt flop) on top of the better apy, and better dividends when they come out

[noble bridge]

if your on flexible staking you can not on fixed

[clear cape]

Yeah. i think we might get heavy IL, i do believe ILV can 3x in the time eth remains the same..but hopefully the game comes out it pans out

[noble bridge]

yeah i think i am iffy on their timelines just seems crazy ambitious with everything they want to implement

i just pray that they are focused on the gameplay as much as they are the art

[clear cape]

ill give u some hopium my man

[weak lagoon]

Time is money, the longer we can generate yield on the stake, the less IL matters in my mind.

[noble bridge]

not true if the game flops the coin flops

[noble bridge]

all that bonus money plus your initial investment is worthless

[cunning inlet]

ETH fees still +$100 for normal staking... What would be an average/good fee to pay?

[thorn meteor]

I´d like to stake some more, but I need to wait for these fees to come down before staking/claiming rewards. From what I understood, I just pay the fees once for both transactions, right?

[weak lagoon]

Yeah I guess I'm taking upside scenario. If eth crashes 50 percent and ilv crashes 75 percent, I'm just going to throw in another 10k lmao.

[noble bridge]

not if you do slp staking pay it 2x