🥩〕staking

[umbral crane]

ye claim silv, buy shiny charizard, resell make profits

[clear cape]

But you would want to use $$$ over sILV, no ? If u use sILV, you are giving up compounding and getting more ILV

thats why i said 'unless you didnt have the spare fiat'

[noble bridge]

you cant use ilv remember its locked to buy items in game

[clear cape]

Im saying if you wanted to buy land right, you want to be using cash > ETH not the sILV

[exotic igloo]

You cant use sILV to buy Illuvials.

Only eth on the marketplace

You can only use sILV to pay for fees

[noble bridge]

but you can use for land

[exotic igloo]

Yes

[halcyon oracle]

I think that tier 1/2 could be the beginning to get some profit but that is not even sure (profit from investment to get them then sell them). maybe will need higer tiers 🤨

[clear cape]

Eide if you had money to put down to obtain eth for land or had the choice of claiming sILV, i am saying it would be more logical to use your capital, not claiming sILV

[noble bridge]

if you you use Fiat->Fee/waiting period->convert to ether fee>

it depends on the assigned value of sILV to ether

if lets say there is run on ilv very plausible with release your sILV becomes super valuable

like lets say ilv goes to 2k alot of us would prob sell our staked ilv if we had access to it at that time, silv is way of doing that

[clear cape]

I get what you are saying here

[noble bridge]

there is only specific situations where silv makes sense you are losing out on compounding, but if like RT says you have access to capital why would you remove compounding apy for something you can buy with extra cash

how so

[midnight lily]

How is silv a way of doing that? Can you swap silv for ilv? Not as far as I’m aware. So how does that work?

[exotic igloo]

Ill enjoy my ILV tokens and revdis thanks

[noble bridge]

SHH we thank him for his service

[noble bridge]

so SILV goes to DAO which is used to burn ilv thereby lowering supply and increasing price/demand

[exotic igloo]

No

sILV is burned on use.

[noble bridge]

oh sorry

[exotic igloo]

Claiming sILV doesnt burn ILV

It just prevent the ILV it replace from being minted

[noble bridge]

but by not claiming ILV it burns ILV from being minted to distribution

[halcyon oracle]

sILV are "rewards/interest" so technically it is just made in plus no ?

[exotic igloo]

No you either pick ILV or sILV as rewards

Not both.

[noble bridge]

i said it wrong Rahlord is correct

[exotic igloo]

Thats why the total supply is 7M now. 3M token are available to be minted

Any sILV claimed reduce the total supply from the max of 10M

[noble bridge]

do we get to see the reduction in total supply from silv collected at any point

[exotic igloo]

Yes

You can look up the sILV etherscan page

And see how much exists

[noble bridge]

so just subtract sILV from the 3million pool interesting

[clear cape]

Now the question is how much sILV is going to be claimed for the land sale 🤔 (obv we dont know but gonna be interesting to see how it pans out)

[halcyon oracle]

Yes since it cant be burned for now, but when the lands will be released and sILV will be available for use, how can we know the amount burned and what is generated after to make this calculation ?

[icy ocean]

Question is for how much people will be willing to buy land

[meager prairie]

If 1M sILV claimed. Then 1M ILV will never be minted? Never future released as rewards? Never, never, or DAO decides what to do with them. Doesn't mean burned though. Am I wrong in this?

[untold lantern]

What happens when sILV becomes 0? Do that means i cant claim any sILV in my staking reward?

[exotic igloo]

If 1M is claimed then 1M ILV is not being minted ever exactly

SILV are burned

Not redistributed

[meager prairie]

Aha

[exotic igloo]

This is never going to change.

It would screw up the tokenomics

[meager prairie]

Thank you for clearing that up for me!!!

[exotic igloo]

When the 3 years of staking ends, no more sILV will be created yea

Unless we change it so that revdis and in game yield can be taken as sILV thus further burning more ILV tokens

I will propose that change once we are close to the game launch.

[halcyon oracle]

Ah i understand now, that's how you regulate the APY

[untold lantern]

Ohhh thats how it goes, thanks !

[wraith plinth]

What is the flash pool token?

[ruby wing]

#xyz

[drowsy wigeon]

thats a dope idea actually

[noble bridge]

love this

[steady trellis]

Would it be possible to enter a state where buying ILV from the market can be a problem ? With all the buy pressure created by the sILV + RevDis and the amount of people stacking... When the game reach extended success, is it possible to dry the available supply ?

[noble bridge]

Max Total Supply:
6,103.587979146206220132 sILV so is this the correct number looking from etherscan page of ilv that will not not be minted

[noble bridge]

hyperbolic price would occur but everything has sale price

and eventually more supply would enter circulation beginning march of next year

remember supply is 600k but becomes roughly 1.5 by like june of next yr, but alot of it will remain staked

[steady trellis]

Yes, i see a big part of what will unlock for the team as being re-staked

[lilac coyote]

!staking

[brisk surge]

I think they are planning on buying from the sushiswap LP. So by design the pool will raise the price to prevent the pool from running completely empty

[lilac coyote]

yeah, price go up so fewer # tokens bought from market. its part of the bull case for ILV

[exotic igloo]

Yes

[noble bridge]

tokenomics looking pretty damn good, but I just realized trying to be savy investor and split locking I am only going to get 1.5 wt on my 6 month split lock for rev distributions :/

the more you know haha and we are getting rev distributions all the time, do you happen to know the day to day events that contribute to the distributions

[exotic igloo]

All the fees paid in the games

5% of all transactions on the marketplace

5% of all bids in the leviathan arena

[bronze heart]

money money money

[clear cape]

thought u were aware of that before, a big reason why i also went for the 2.0 lock

[exotic igloo]

Always research before making a financial move.

[noble bridge]

i mean i was aware but i didnt have as much confidence in the rev distributions as i do now

and i was more calculating the big ones like land sales major events vs the day to day

[noble bridge]

what makes up rev distributions on day to basis now before the game is released is what i meant to ask

[exotic igloo]

Nothing

We dont get revenue distribution until the land sale happens or the game starts

After that its anything the DAO sells

Like merch, movies, other game stuff

[steady trellis]

Any (part of the) merchandising benefice would go back to the DAO ?

[bronze heart]

all merch and stuff is included too?

[noble bridge]

when the slp calculates apy does it factor in the percentage of the exchange fees from the Sushi pool added in

[exotic igloo]

100%

Always 100% unless specified

[steady trellis]

I suppose only for what is sold in the marketplace ?

[exotic igloo]

You talking about merch?

[steady trellis]

If tomorrow Illuvium marketing team decide to sell plush of Illuvials to the kids it can't be part of it

[exotic igloo]

No. The trading fees are added by sushiswap to the SLP token price

[exotic igloo]

Yes it is.

[ornate cypress]

Lol illuvium beanie babies

[steady trellis]

Amazing. How would that work ?

[exotic igloo]

Beauty of ILV token

We take the money and buy ILV and distribute it

Always the same process

[halcyon oracle]

The closed beta will just be a "trial version", it wont mean anything for the official start (illuvial you get in beta for real game) ?

[exotic igloo]

Closed beta is wiped yes you dont keep anything

[half vigil]

How can i get the SLP

[exotic igloo]

Check the pinned video tutorial

[halcyon oracle]

Yes i saw it, it was to be sure

[meager prairie]

@steady trellis Arrrgg... now I want a plush illuvial!!! And I'm 40 years old... hahaha

[halcyon oracle]

And for the open beta ?

[clear cape]

Yeah...the kids, not me at all 👀

[ruby wing]

Guys lets keep it on topic 🙂 talk about merch and plushies in #💬〕general

[half vigil]

I can’t find the slp video

[steady trellis]

Real life merchandising, come with production costs, shipping, etc. And the money is another canal not linked to the blockchain as it's in fiat. I didn't though it was already in your plans. Impressive.

[halcyon oracle]

Check pinned comments

[steady trellis]

I'm 39, and will collect them all. Be sure of it !!

[exotic igloo]

Everything is possible haha we wouldnt keep stocks

Client order, factory build and ship

We collect monay

[halcyon oracle]

Catch'em all ! Pokem...Errrr Illuvial !

[half vigil]

Can’t find any pinned message

[void bronze]

Hi guys, i hope u guys can help me out on my confusion. If i were to stake $ILV which is in game currency?, am i able to withdraw out the $ILV into ETH? or how does it work?

[ruby wing]

Watch pinned video

You stake ILV

[ruby wing]

Wow you are kind

[void bronze]

thanks =]

[halcyon oracle]

My questions were answered so it cost me nothing to just printscreen to help

[icy ocean]

I am still confused why you need to claim rewards before you can stake more

[exotic igloo]

Check aaron's pinned message

He explains it.

[icy ocean]

K , I didn't see anything that explains it , well not like anything is going to change from me understanding why it is the case , just curious.

[clever swan]

Just curious but what gas fees are people waiting for to claim their rewards?

[ruby wing]

I aim for 20 gwei

[clever swan]

we had those last week. Now I'm just hoping it goes under 40

the pressure to start more compounding is real haha

[wanton rose]

If I claim my staking rewards in the form of sILV to be used in game, will that burn ILV from the total supply? Does that mean that people who claim sILV right now are actively reducing the total supply?

[steady trellis]

Not burning it but yes

[wanton rose]

Technically not burning it, but more accurately to say that ILV is never minted? And it's happening right now?

[steady trellis]

Yes

[wanton rose]

Do you know anywhere I can find the number of sILV claimed? (rewards claimed in sILV)

[steady trellis]

It has been posted earlier, scroll up and you'll find it, something like 6500 sILV

[wanton rose]

Thanks a ton Lela in hell

[noble bridge]

i posted earlier

[noble bridge]

eidelsond — Today at 9:06 PM
Max Total Supply:
6,103.587979146206220132 sILV so is this the correct number looking from etherscan page of ilv that will not not be minted

[wanton rose]

damn thanks was looking up

[wanton rose]

can you link me the etherscan address?

[noble bridge]

https://etherscan.io/token/0x398aea1c9ceb7de800284bb399a15e0efe5a9ec2?a=0xa42830ee059c77caf8c8200b44aa9813cb0720c5

[wanton rose]

thank you bye

[granite halo]

I know this isn't really "financial advice" but how much realistically do you think you should have for ILV/SLP to be worth it? Is say 5 ILV enough?

[wanton rose]

Gas fees will probably be like 1/12th of that, but I guess that's alright since it's pretty high APY.

[ruby wing]

10+ imo

[granite halo]

Just to confirm that 10+ would mean 10 ILV+ the equivalent in eth? Pretty hefty sum.

Could that be mitigated by for example waiting longer before claiming during my first few claims?

[twin furnace]

The fact that the ILV-ETH (SLP) token is still rising in dollar value despite ILV and ETH price staying relatively stable over the last week - does that reflect the transaction fee generated from the liquidity pool being accumulated inside the SLP token price?

-or is it due to some other factor that I'm not aware of?

[spring merlin]

Yeah I think it's the .25% fee of every transaction. Only other factors are price of eth/ilv and the ratio between the two

[twin furnace]

I see, thanks for clarifying! 😄

[smoky idol]

Nice

[wanton nova]

Hey, thanks for the reply. I've heard about dune a few days ago. Seems to be a cool tool.

I had the same thought about the 364 days stakes. But that would only make sense if most of them were placed directly on the first day of staking, right? Is it possible to look up when the 364 day stakes were placed?

[twin furnace]

I was going through IIPs we’ve had in the past. Started reading IIP 5 about treasury SLP staking. I didn’t quite understand what context was and the implications of IIP5, could someone shed some light? Thanks in advance!

[lofty forge]

do I have to pay gas if i claim sILV

[manic spindle]

Yes you do 🙂 It doesn't matter if you claim ILV or sILV as yield farm rewards, it does cost gas. ILV just get's vested for 12 months then while sILV is transferred to your wallet.

[lofty forge]

😢

[indigo bridge]

Hey stormi quick question, 2 days earlier I saw someone saying they would sell their sILV tokens on airswap (cause they needed emergency money) at discounted price on airswap. My question is Are transactions like that allowed?

[manic spindle]

I haven't used Airswap myself, so I cannot attest to anything about that platform but just in general: You own your sILV when claimed. It is yours. What you do with that is up to you. If you want to sell it for less than 1 ILV value in order to cash out somehow instead of using it in game then that is your choice 🙂

[indigo bridge]

Ah okay. And we're able to use the official discord for that?

[manic spindle]

I don't see why #🛒〕land-dex shouldn't be used for that. I think we've even had some offer sILV there already 🙂

[indigo bridge]

Ah didn't see that, gotcha! Thanks for the reply Storm!! Much appreciated

[full lagoon]

Noob question. If your mm wallet has been compromised. Your stake to which your wallet is connected will be gone?

[manic spindle]

Depends whether or not you still could manage to transfer your stake to a secure wallet before it is stolen. Just in general though, any ILV that is locked (regardless of deposit or claimed rewards) can not be moved until the locking period is over.

[full lagoon]

Yes the stake is locked. Do you know how i can transfer it to another wallet? As i got an unfamiliar token in my mm and i clicked it. So i am not sure if my wallet is still safe.

[manic spindle]

In order to transfer your ILV you would have to withdraw it under "Vesting" and then send it to a different wallet and from there stake it again. But as said, locked stakes cannot be moved until they unlock unfortunately.

[full lagoon]

So as long as it is locked, it is safe? I guess i have to be quick when my stake unlocks next year and transfer it to another wallet. Thanks buddy! Always of help!

[manic spindle]

No one can touch your locked stake, no. I don't have any experience when it comes to moving things fast due to a compromised wallet though. I'm sure there a options out there that could help with that.

[gilded wigeon]

How do I find the staking calculator?

[clear cape]

how did it get compromised out of curiosity? asking so i and other members can benefit from safety

[short turret]

When claiming rewards are the ILV reinvested into the SLP compounding your position or do you have to manually stake more ETH and the claimed reward

[eager lynx]

Rewards are staked into the ILV pool and locked for 12 months

[short turret]

If you are staked in the SLP pool. Once you claim your rewards are they compounded automatically while locked for the additional 12 months

[eager lynx]

Once you claim rewards from the Sushi Pool, two tx will trigger: claim rewards from SLP and claim rewards from ILV pool. All these rewards will get staked into the ILV pool (hence compounding)

[regal marten]

Yep, that's possible, you know the block time of the stake. I'll try to get that info and let you know.

[wanton nova]

Pinned messages

[silver nebula]

Is it possible to download a csv of the staked transactions for record keeping?

[terse merlin]

Does anyone know a way to stake ILV whilst maintaining exposure to ETH with the same capital?

[chilly torrent]

I’m having trouble adding liquidity to Sushi. I’ve ‘approved’ ETH and ILV deposits but I can’t progress any further

[manic spindle]

!lp Putting the answer here and deleting it in #💬〕general. Please don't ask the same questions in multiple questions thanks 🙂

[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 torrent]

thanks

[chilly torrent]

I've provided liquidity tonnes, I've approved the deposits but I'm not getting a command button 'after' approval for deposits

[manic spindle]

You might wanna check this video as it shows LP staking for ILV step by step and make sure everything is correct on your end: #🥩〕staking message

[glad valley]

Hello! Is there a tool we can use to simulate staking daily, weekly, monthly, etc income?

[cunning perch]

you can check pinned messages

[glad valley]

Thank you!

[chilly torrent]

Hey bud, I max'd my ILV deposit and didn't quite cover my ETH balance.. feel like a tool but I'm in

[vague sierra]

hi, does anyone have any issues trying to claim rewards? i keep getting an error messeage and then only 1 of 2 pools get claimed while taking the full cost of both pools

[weary lance]

where can I get info about Staking v2?

[polar nest]

I staked my ilv and the transaction went through yesterday but I can still see staking illuvium interaction pending activity in mm , is it okay if I cancel it

[granite halo]

Will staking V2 allow us to transfer our current stakes, or should I just wait until December to stake?

[eager lynx]

Was it your first time staking? If so, the first time you will require an extra tx to approve ILV to be staked. The second tx will be the actual staking. Could it be just the approval is the one that went through, gas spiked and your 2nd tx is stuck waiting for gas to go down?

[polar nest]

it is my first time staking but when I go to vests I see my staked ilv right there and I can also claim rewards , and I already have an approve ilv spend limit which is the staking approve I believe

[eager lynx]

so if you check the tx MM is showing as pending in etherscan does it appear as successful?

[polar nest]

just checked and the status is Success

[eager lynx]

I don't think it ever happened to me but it could be a visual bug. I would shut down the browser and login to MM again. I can't think of any reason why the tx should be pending when, in fact, went through

[rocky arch]

what do you mean by eat your balance in no time?

[polar nest]

that worked out lmao even though i restarted it few times , thanks!

[drifting elbow]

Hey, after I withdraw my Sushi LP token after staking it, I sell it on sushi back for a proportion of ETH and ILV? also, staking Sushi LP, all I get is ILV right?

[winter ocean]

Can someone please explain to me how the multiplier rewards works when vesting

[eager lynx]

You can claim ILV or sILV

[drifting elbow]

I would like to understand this too, I'm prolly gonna stake like 1.5 ILV(And then also the equivalent in dollar in ETH) in the ETH/ILV Pool, why is it a bad thing to do?
Couldnt I also simply only vest my rewards once if thats the case (and lose on the compounding rate, but I still get the APY in % of tokens it tells me there, right?)

[uneven falcon]

@sinful osprey yes claimed rewards are vested for another year

[brisk surge]

Are you using the correct gas?

[eager lynx]

He probably meant when you claim from SLP you trigger two tx and that means you have to pay 2x gas rather than just one tx is you claim from the ILV pool

[uneven falcon]

You could claim in sILV to use straight away for land sale or some in game transactions if you wanted to avoid another year lock up @sinful osprey

[eager lynx]

If you have a small capital, all this eth paid in gas could have gone towards more ILV

[vague sierra]

yes i was using the medium option, but it is resolved already. i had to reinstall metamask and redo the transaction

[neon isle]

When i stake on 2 different dates will i have to claim two separate rewards or are the rewards pooled into 1 for all stakes?

[vague sierra]

btw i have been seeing "staking v2" being mentioned here and there, what does this entail? are there changes planned for staking?

[eager lynx]

each stake will have its own lock period but rewards will be pooled together (assuming you staked both of them in the same pool). However, remember if you are staking SLP, you will end up having to claim rewards from both pools.

[sinful osprey]

Thank you for clarifying this for me

[uneven falcon]

No problems, this channel has the best info for staking.. it can sometimes take a little longer to get a reply but it won’t get lost in general

[neon isle]

And that means x2 the gas fees?

[eager lynx]

Yes. That's one of the disadvantages of SLP vs ILV pool

[sinful osprey]

One more question, do we get back the initial investment though after the duration of the staking occurs?

[brisk surge]

Yeah after your time period is over you get your initial back but in SLP the ratio would have been changed by then.

[uneven falcon]

Yep, whenever your lock up period finishes

I know nothing about SLP staking though… I only did core.. didn’t want to worry about impairment loss

[sinful osprey]

I see.. Then we go back to sushi swap and have it converted to just ETH or whatever currency?

[neon isle]

Assuming i choose ILV as my rewards, so all of my ILV rewards from separate claims will have their own rewards pooled together as well. So in the end im paying 3x gas, 2 for SLP and 1 for ILV is that right?

[winter ocean]

Question do you have to pull your rewards into vesting to take advantage of the compounding?

[sinful osprey]

Meaning it could be better or worse?

[neon isle]

If you think it justifies the gas fee yes. I think

[eager lynx]

If you stake in SLP you will get rewards there. when you claim you will trigger two tx (one for each pool). Those rewards will be staked into the ILV pool. Rinse and repeat.

One mistake you must avoid is to NOT claim the ILV pool if you are about to claim the SLP as this one will also trigger a claim for the ILV pool.

[brisk surge]

You will have Impermanent loss saying you get into the SLP now you went in with 50/50 in ILV/ETH let's say the price of ILV is much higher by the time you get out then your ratio could be 60/40 or 80/40 in which you have more ETH and less ILV. But at the same time you got 60% more rewards compared to the 20% in the single pool.

[sand carbon]

Is there a way just to claim the SLP rewards and not the Compounding ILV/XYZ rewards ?

[winter ocean]

If i leave it out and dont bother vesting will i recieve the APR on my initial invested token + reward?

[wind walrus]

As your rewards start stacking you choose when to claim. Once you claim the rewards they start compounding

[brisk surge]

As in you aren't staking or flexible?

[winter ocean]

Or does the compounding only apply once i move my rewards into vesting?

[eager lynx]

you have to claim

[sinful osprey]

Oh wow this makes my head hurt. Then we go to sushi swap to sparate the Eth from the ILV?

[drifting elbow]

I think you receive it, but thing is, as more people put money into the pool, the APY itself decreases.
Also, you're not compounding it

[brisk surge]

If you don't claim your rewards then they don't compound back into the single pool.

[winter ocean]

Ahh gotcha okay makes sense

[brisk surge]

!lp

[woven ibex]

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

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

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

[winter ocean]

Thanks all

[wind walrus]

No. You can add another batch of SLP. It will automatically claim your rewards at that time so time it accordingly and don't manually claim before hand

[sinful osprey]

And every vested reward, there is no claim all i’m guessing? You have to claim each and use gas fee everytime?

[wind walrus]

It will add together. Second part is correct

It will add each claim into your ILV pool but will add a new 365 day timer.

[clever swan]

yeah and also 12 different revdis. So if you take out once a month that's 144 gas fees for a year. I just realized this doing my second claim.

[hushed prairie]

Hey guys, so staking just 1 ilv or 2 is not worth it?

[wind walrus]

If you just added SLP last night I would wait before adding more unless you are adding a lot

[drifting elbow]

From what I understand so far....if you stake it, stake it for a really long time (6 months or 12) and don`t compound it. Else the gas fees kill you, would be good if some1 more knowledgeable confirms this, though

[hushed prairie]

Yeah well I’m planing to stake it until beta release maybe even February from now

[wind walrus]

It depends which pool and you goals.

[hushed prairie]

Tbh I just want to play the game and buy/sell illuvials😂

[drifting elbow]

I'm thinking of staking 1.5 ILV (then the same amount in eth... about 1800 dollar total) in the ETH/SLP pool faulty...gonna do it for 6 months, and I'll only vest it once it ends. Think this is fine?

[clever swan]

if you consider all the gas fees including let's say revdis for a year (1 claim, 12 revdis, 1 unstake = 14 gas fees) how much ilv do you think makes sense to claim each time?

[hushed prairie]

That’s what I was going to do but I think 1.5 is not enough

[wind walrus]

The pool apy is reduced 3% every 2 weeks and will also reduce as more stakers add

[clever swan]

then maybe it makes sense to claim more now and then slow it down as apy lessens to take full effect of the compounding.

yeah the gas fees also start compounding if you consider each time you revdis for each claim which has a separate smart contract.

[drifting elbow]

Using coopers calculator, my investmet semmed fine, but coopers calculator doesnt take into account that the APY% Will slowly dimish I guess

[wind walrus]

Because it will automatically claim your rewards but as of now your rewards are probably very small. Might be worth it if your adding a sizable amount or just want to put more in quickly to have second stake working for you

[pure eagle]

Let me jump right in....if I stake I the SLP and wait to claim my reward every 3 months, how much gas are we talking about? Would it be only 1 transaction as I only claimed once or will it be counted as one transaction per reward generated?

[drifting elbow]

SLP requires 2 gas fees every claim you do, so were talking about 2 every 3 month

[wind walrus]

Depends on gwei. Could be 20 bucks. Could be 60

[pure eagle]

Great!!! Thanks that's what I thought but maybe I misunderstood somethings ppl were saying up there 😓

[clever swan]

I asked about consolidating these rewards into one contract and the team are working on Staking 2.0 which could have this option which would be dope. So we can claim more into one contract and then just pay one revdis fee.

[wind walrus]

Higher than 78% Use the spreadsheet pinned in this channel. It breaks it all down

[clever swan]

I'm thinking waiting to get up to like 5 ilv tokens before claiming it makes sense because of all the possible revdis fees if you have a lot of claims. What do you guys think?

[wind walrus]

Did you use the spreadsheet? For me it is best to claim once a month

[clever swan]

but then you lose out so much on the compounding?

I think it makes sense to claim more now to take advantage of the high apy and then do less later bc apy will go down?

[wind walrus]

But with gas fees it worked out better. To claim weekly was 9k in gas over 3 years. Of course gas will hopefully be lower next year

[clever swan]

man, they really need to let us put all the claims in one contract

just thinking about all the revdis fees 🤣

[wind walrus]

I'm sure they will figure something out.

[dusk fog]

You wouldn't want to claim as often in year 2 and 3 tho since most of the yielding is first year. I'm gonna claim every other week first year and maybe like once a month in year two

[wind walrus]

That might work out well

[granite halo]

I am a bit confused. Everytime we claim our rewards, does that reward also require a gas fee to be staked as a separate contract? So for example Deposit 5 SLP.
After 1 month claim the rewards. Now you have to stake the rewards with another gas fee, as a whole separate contract? And then month two we would have to pay 4 gas(2 for the original contract claiming, 2 for the new contract claiming ?)

I guess what I am asking is, do you have to pay gas to stake/claim the rewards that you get from other rewards?

[clever swan]

plus the gas fees every time you claim revdis on each claim/smart contract. 😅

[granite halo]

That would be exponential gas right?

So basically you can't compound on rewards from rewards?

[dusk fog]

I mean it depends on how much you have staked so there's a threshold for when its worth for you to claim, but I don't think a fixed schedule for claiming over 3 years is the most bang for your buck considering gas fees as the APYs will go down. Claim often when it's high and claim less and less once it's dropped.

[dusk fog]

There is only one Claim ILV button per pool so all the rewards that you get from other rewards will be included in the claim/stake gas fee.

[granite halo]

Wewwwwwww that makes somuch more sense

[clever swan]

but each claim becomes its own smart contract for revdis and unstake.

[granite halo]

That is fair. Claim every 2 weeks or one month and you pay gas every 2 weeks/ month when taking it out.

[clever swan]

you mean revdis or unstaking?

[granite halo]

Ahh I meant unstaking... still have no clue about revdis

[clever swan]

for each claim you have to pay a gas for taking out revdis each time.

[granite halo]

I take it there won't be a "claim all revdis " button?

[dusk fog]

Yeah, but if you would want to withdraw everything after the unlock it's gonna be a separate interaction for every claim. So claim every two weeks would be 26 different vestings + your staking and DCA

[granite halo]

Damn. Sounds like once/month or 2 months would be best.

[manic trail]

I just went to the process of buying ILV, creating the LP token, staking it. But I feel I got rekt by the Ratio Token invested / gaz paid ... 😢 ... I have 1300$ of token for 150$ of gas fee paid ...

[dusk fog]

I read that there were ideas about that

[clever swan]

this would make sense for the team to do or put all the claims on one smart contract or else ppl will be hesitant to claim and stake as frequently I think.

[dusk fog]

For sure, unless the network has done something about the Gas until then

[clever swan]

I'm not sure we can count on eth 2.0 so hopefully the team can figure something out for us

[frosty totem]

You're in, that's the most important part.

[manic trail]

Ye but after what I'm reading I'm really confused, I feel like it will never be worth it for me to claim rewards no ?

[granite halo]

For some reason it feels like it may be best to wait a few months and accumulate and wait for staking V2 before staking for me. Only have 2.5 ILV atm.

[clever swan]

just imagine for each claim how many times a year you will want to collect revdis bc each time will be a gas fee, that's all.

[frosty totem]

At these gas prices no, unless you claim rarely, token price explodes or have a big bag.

[manic trail]

Thank you so much for the clarification guys, so you mean if I wait the end of my 52 weeks Staking, I will pay only once the redeem fees ?

[clever swan]

I think there are 2 different convos going on in here and newbies are getting confused which is not good.

[dusk fog]

It depends if you're in it for the long haul or not, doesn't matter if you have 30 or 50 separate smart contracts under the vesting tab since all the rewards out of reward compounds togheter to claim with one transaction. If you're in it for RevDis you just want to keep all of it staked there anyway. If you wanna withdraw everything and cash out you might not wanna claim rewards too often since it's gonna be many transactions for all those smart contracts, but then again if you just short term you might not even stake locked and wont get as many rewards to claim either.

[clever swan]

Just think of it this way, when you stake you pay a gas fee, when you claim a reward you pay a gas fee, now you collect revdis once a month for a year on that claim you pay 12 gas fees, if you unstake after those revdis you pay a gas fee. So for the life of this once claim you paid 14 gas fees + the stake fee which you would divide the cost with how many other claims you made off of it.

[granite halo]

Well i think it really depends. If 1 ILV ends up being worth 5000, and after all the compounding I end up with 50-100 ILV, yet Revdis is only 10$/ ILV /month, then Revdis isn't worth it.

[clever swan]

So if you claim 10 rewards and take 12 revdis for each claim, that's 120 gas fees.

https://tenor.com/view/willem-dafoe-laugh-crazy-car-close-up-gif-12180194

[granite halo]

Would rather have 250k in liquid assets from unstaking than 500/month from Revdis.

[clever swan]

this is more fun than the game 😆

[dusk fog]

Well if you have 100 ILV worth 5k$ each the 50 gas fees to withdraw all your stakes will be a very small fraction to cash out

[clever swan]

yeah it seems this system works against mid range investors the most

people who want the revdis basically

[dusk fog]

But then again, if you only claim rewards once every two months instead of two times a month those 100 ILV would be just 80 or something instead. If we're talking about the SLP pool.

[granite halo]

Yeah I definitely think I am gonna have to accumulate atleast 10 ILV and then claim every 30 days to maximize, considering gas fees.

[clever swan]

then you miss out on all that sweet compounding effect

hopefully game is amazing and this will all be good problems to have 😀

[dusk fog]

Yeah exactly, I think I'm gonna claim as often as I can when the gas fees are max 10% of the rewards I have available for claiming. I think that could be a good rule

[granite halo]

Ohh that sounds good.

[clever swan]

yeah claim more now when apy is high and less later I think.

[manic trail]

Can someone confirm if I understood the Staking ?

If I stake for 1 year so my LP is locked 1 year, also, as soon as I redeem rewards, they will also be locked for 1 additional year

[dusk fog]

Yeah cause then it would always be relative to both APY and current gas sort of.

[cunning perch]

as long as paying gas is justifiable to the amount you have to claim, it'll be worth it since APY is still high enough. then the frequency should be longer so the gas and rewards will stay justifiable all together

[clever swan]

and how much you got staked plus where you think the overall market and this project is headed

[clever swan]

well that's hard to speculate on when you have a lot of claims without knowing what the revdis might be.

[cunning perch]

The first RevDis will happen through the land sale. So you can somehow have a wild guess. but not considering RevDis, based on your stake and gas, you can still have a good guess when is the best time to claim. I myself like round numbers do taking Gas into consideration, I claim once or twice a month and will increase the frequency of my claims as the APY goes down. When the first RevDis comes, I'll take that into consideration and change my plan.

[dusk fog]

Can I ask why you would want to claim more often as the APY decreases?

[clever swan]

hmm that's interesting. I was thinking it would make more sense to claim more now when apy is high to take advantage of the compounding effect.

[cunning perch]

I won't. I meant I will claim less often (longer periods) as APY decreases

[clever swan]

right. so claim more now and then do less as time goes on?

[cunning perch]

it only makes sense to claim more often if your rewards justify paying the gas

[cunning perch]

if gas justifies. This is my plan.

[umbral crane]

Gas fees are the only thing thts holding this back. Extremely annoying

[clever swan]

yeah I agree. no one is arguing that. but you also need to calculate the apy/compounding plus the fact the revdis will be separate fees on each claim. It gets complicated.

[cunning perch]

Well we first need to receive the RevDis to plan a strategy for our claims. For now, I take The Present into account.

[dusk fog]

Oh right haha, to me Increased frequency = more often. Sounds like a good plan. I just think everyone needs to set their own threshold for when gas is justifiable based on their financial means and belief in the project.

[cunning perch]

Gas for now seems an issue, but when Rev starts flowing in, you'll literally gonna be paid everything u spent back and more. It just sounds like an issue at the moment, but not later.

[drowsy wigeon]

I also hope eth gas goes down when revdis hits.... Haaa who are we kidding lmao

[clever swan]

Well if gas is higher than the revdis on each claim it will certainly be an issue.

[cunning perch]

haha sure. It's always been like this. Everyone needs to have a plan, that's why everyone is so different and plans vary a lot. For me, since I'm planning to stay for as long as I can (maybe even forever) claiming and paying gas is a short-term problem really. Long-term I'll get back whatever I spend now

[dusk fog]

I agree. I'm not too bothered about gas either but I am trying to keep never keep the gas fees more than 10% of the reward I'm claiming.

[abstract crown]

Does anyone have a link for reading on what revdis is?

[cunning perch]

then you need to wait to accumulate more Rev to withdraw. Still, if you have a plan, there wouldn't be an issue really. and besides, next year ETH 2.0 will probably get released so ..... 🙂

[umbral crane]

Honestly i wasnt even thinking about revdis at all. To me thats jus a plus. The investment is justifiable without tht aspect.

[clever swan]

Revenue distribution for stakeholders

[abstract crown]

Ohhh gotcha, thank you 🙂

[clever swan]

Eth 2 or staking 2 before revdis would be awesome 🙃

[clever swan]

Some people were saying $50-150 a month is possible for each token 😋

[umbral crane]

Ouff big if true

[abstract crown]

Per ILV token owned?

[cunning perch]

guys, RevDis and price in #💰〕token plz

[abstract crown]

Oops, apologies

[slender ginkgo]

Is there some explaination of what determines the staking APY somewhere?

[merry quiver]

!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

[crude bone]

Do I need a whole ILV token to stake? Or can it be fractional I just got into this and don’t have much eth but want to support

[slender ginkgo]

You can stake any amount

[crude bone]

Great thx

[slender ginkgo]

But gas will be relatively high if you stake so little

[manic spindle]

Just be aware that staking (as well as claiming rewards and withdrawing) costs gas and unless you don't intend to keep it staked for very long (and ideally locked for 52 weeks to get a token weight of 2.0) it might not be worth it until you get a bit more ILV 🙂

[crude bone]

Ohhh yea for my price point it might be better just to hold the token and just pay gas to convert eth to ilv and ride the wave thanks guys

[vast jewel]

If I claim the ILV reward does it automatically go into the ILV pool with 52 week lock?

[slender ginkgo]

yes

[cunning perch]

whenever you claim, the newly claimed reward will start the one-year vesting and compound to your stake.

[slender ginkgo]

"compound to your stake" can sound misleading of you stake SLP

[cunning perch]

all rewards will move to the single ILV pool and compound regardless of SLP or your Original stake.

[dusky rock]

Please stop using !command's in this channel if You are not moderator.

[unreal mica]

where do you stake ILV

[cunning perch]

!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

[unreal mica]

thanks

[quick flare]

guys, the revdis rewards will also be claimed through the staking portal right?

[cunning perch]

yeah. you gotta withdraw and then HODL/stake/sell it

[wanton nova]

There was talk about staking v2 in the token channel. What exactly is it?

[quick flare]

will it be piled together with the staking rewards or separately?

[cunning perch]

Unless mentioned by a mod, I personally don't know about it. @manic spindle or @final steppe
do you know?

[cunning perch]

there should be a section for it. As it's non-existent for now, It's not an immediate issue really. We'll see once it started flowing in

[quick flare]

many thanks mate

[wanton nova]

It was mentioned by @exotic igloo

Said there is no Eta for it but I'm curious what it's about in general?

[cunning perch]

Ah, I'll ask him. Personally don't know about it.

[quick flare]

hope that would be piled together, cuz gas fee is too costly nowadays 🥲

[final steppe]

First I was hearing of it but I found this: #🥩〕staking message

[cunning perch]

If RevDis is big enough, you won't need to worry about gas really.

[exotic igloo]

I have no idea what it entails.

[cunning perch]

@wanton nova there you go 👆 🙂

[cunning perch]

thx bro 🙂

[final steppe]

Any significant change like that will have to come via an IIP so we'll definitely have more details once that proposal is finalized and brought forth 🙂

[wanton nova]

👍 thanks, guys.

[quick flare]

yeah but paying unneccessary fee too often is also irritating

[wanton nova]

Revdis will accumulate. Just wait until it's worth the gas

[cunning perch]

Hopefully it won't be long since ETH 2.0 is released and the issue of high gas will be put to rest. maybe you'll have claimed some times before that. Still you're gonna get paid through Rev whatever amount you spend for gas

[granite halo]

Hold up. SLP pool rewards when claimed get staked at 80% vs the 600% or whatever the APY is in the SLV pool?

[cunning perch]

Whenever you stake it's based on whatever APY the pool has and will follow it. So it's not fixed and varies.

[cold flint]

Here goes today's gas guzzlers

[mint cave]

torrrrandoooo!

[granite halo]

Ahh what I mean is →
Stake 5 SLP→ This goes into the SLP pool which is currently XXX%.

After that we start getting rewards based on XXX% * Staked SLP.i thought those rewards were also going to get the token weight and be compounded based on the APY of the SLP pool.

Is that understanding incorrect?

[dusk fog]

SLP pool rewards are claimed as ILV (unless you choose sILV) so the rewards get staked with the APY of the ILV Pool. You don't get SLP rewards.

[abstract crown]

The rewards (if you take ILV) go into the ILV pool at 2x weight. (IIRC)

[granite halo]

Damn. So rewards aren't gonna be compounded that much in the end. That's a bit of a bummer.

[abstract crown]

I feel like it's pretty dang good still, personally

[brisk surge]

Staked ILV shows on Zapper.fi now, yay!

[granite halo]

Guess the initial stake is gonna be the biggest factor.

[cunning perch]

all the rewards after claiming will be moved to the single pool and therefore compound with the weight of your stake

[dusk fog]

Indeed, the initial stake or whatever DCA you manually add to the staking is gonna be the biggest factor in terms of how many tokens you will receive but don't underestimate the 80% ish APY of the ILV pool of which your rewards will compound.

[brisk surge]

I'm also excited it shows the SLP ILV/ETH amounts too.

[stoic cobalt]

well.. I want to stake.. but it suggest currently gas fee of around 120,- USD ...

[cunning perch]

gas is a bit high now. Might be lower in the weekend though. a wild guess

[stoic cobalt]

thats insane

[brisk surge]

It is, I haven't claimed in forever. Saturday night / Sunday morning EST are the best times. Could maybe hope for 25 gas

[slender ginkgo]

Might be lower on the weekend, but by the weekend you could have gotten more reward than that gas (depending on how much you stake)

You should calculate it

[cunning perch]

I'm gonna claim once August ends. haven't done it for a month. Haven't even check the dashboard for 2 weeks lol

[granite halo]

Yeah it all makes sense now. The bummer is that there really won't be any returns until over a year from the point of staking and you are also paying gas each time you claim rewards. Hope we can do something about gas...

[cunning perch]

Nah. The return will start with RevDis with the land sale

[granite halo]

But those returns are also locked for a year?

[cunning perch]

No. RevDis is free to claim anytime u want

[cunning perch]

!revdis

[woven ibex]

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

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

[granite halo]

Got itttt

[cunning perch]

Don't worry about gains. Everything in ILV is well thought out 🙂

[granite halo]

True. True.

[slender ginkgo]

Do SLP stakers get RevDis?

[cunning perch]

every staker gets RevDis since it involves ILV

[dusk fog]

Yeah we just need the product to be top tier, right in time and to reach out to the proper user group! By the looks so far I'm not very concerned

[cunning perch]

ofc. That's the plan. Everyone should know that even if there are delays, the team is working on perfection in every corner. This is like surgery and requires time and precision, which ILV has already proven to be made of.

[dusk fog]

I meant it more as in right in time and not right on time. Seeing what's happening at Blizzard the last month this looks like we got the timing very good, we're gonna want a piece of that playerbase. Anyways sorry for Off topic 🙂

[cunning perch]

No worries. The road to Valhalla is clear.

[viscid ferry]

If a person has $1k worth of ILV (2x ILV) staked for 52 weeks.. the other person has $1k worth of SLP (1x ILV + 0.2 ETH) staked for 52 weeks.. Would both receive the same amount of RevDis?

[coral umbra]

No, revdis is based on the amount of your ILV staked

[dusk fog]

Does this mean that the person with 2x ILV receives the double amount of Rev of the other person? If no one has claimed the rewards to gain additional ILV that is.

[umbral crane]

Wait so if i do the second option sushi lp (providing liquidity) i will get half revdis?

[granite halo]

I thought that the SLP pool compounds ILV rewards based on the total $$$(including eth)...

[umbral crane]

But then from providing liquidity through slp u get ilv as rewards and when u claim tht its staked and used to calculate how much revdis u get?

The second option gives u such a higher return then staking but if u dnt get revdis then idk

[granite halo]

My understanding is that the APY from SLP pool counts eth as well is that wrong?

Or am I gonna put in $10000 worth of ILV/ETH total and only get APY on the ILV portion?

That doesn't seem right.

[umbral crane]

Idk im lost. Im jus full 100% in slp half eth half ilv locked for 52 weeks. If i niss out on revdis ill be super salty

[kind loom]

APy is for the whole amount.

[viscid ferry]

This part is actually not spelled out clearly in white paper..

[dusk fog]

You'll get more RevDis since you'll have so many more ILVs from rewards. I was just stating it as an example if both persons would not claim their rewards.

[kind loom]

For SLP staker, RevDis will be paid for the ILV portion of your SLP. Yes you get 50% of RevDis compared if you went all ILV only INITIALLY. But if we think long term, you will have more rewards in staking resulting in more RevDis.

[wanton nova]

If you claim rewards either from ILV. Pool or slp pool the rewards are locked and receive revdiv. When staking in slp pool rewards are waaay higher so you will more than likely get more revdis over time

[nocturne monolith]

Staking sushi LP will get you returns that can help hedge against the possibility of a falling ILV price right? Do I understand that correctly?

[umbral crane]

Ok thank you this clears it up

[keen verge]

yes, but if the price of ilv goes up, then you will have impermenance loss

[nocturne monolith]

So I've read about impermanent loss but I'm still having trouble understanding why I "lose" when price goes up

[abstract crown]

The quantity of one of your paired coins will go down to keep the balance between the two

[granite halo]

But in the end that only affects your initial investment right?

[umbral crane]

I thought impermanence loss is only if one goes down alot and one stays the same

If ilv blows up and eth doesnt will lose ilv from initial investment? But i gues snot a big deal at tht point cuz claims wud outweight tht

[neon isle]

Impermanent loss occurs when the ratio of 2 coins on the liquidity pool differs. Regardless if its increase or decrease. From my understanding

[dusk fog]

Yes, if you put in 10 ILV in SLP now for example but gain another 40 ILV in rewards over 2 years I'd say its worth the permanent loss even if you'd only get lets say 5 out of the initial 10 back and the rest in ETH.

[umbral crane]

Its exponential tho right? Really doesnt matter too much unless one differs like 70%ish

Ilv has been following eth relatively well but i do expect it to blowup and eth wont at some point

[untold lantern]

Quick question, i locked my ilv stake for only 6 months. If after 6 months but i decide not to claim it will i still be receiving rev dis?

[quick flare]

what's the address of slp token?

[neon isle]

Really hard to say but yeah im expecting ILV to blow up by december. But also keep in mind Eth 2.0 is expected to arrive next year so that will probably drive up eth.

[nocturne monolith]

So once ETH is behind ILV.. is there still going to be a bigger benefit of holding SLP vs ILV only?

[clever swan]

I just realized if you have 12 claims and do revdis on those 12x a year that's 144x gas fees but that doesn't include doing revdis on those new revdis claims so you are talking about 1000s of gas fees piling up exponentially lol

[dusk fog]

Not sure what you mean, the RevDis you gain from all your tokens is just one transaction to claim?

[nocturne monolith]

Can you avoid all those gas fees buy just staking ILV only?

[umbral crane]

U can avoid gas fees by claiming all at once on a random friday night when fees are low

[kind loom]

Yep, you can accumulate like 50 ilv with your RevDis if you want before claiming.

[cunning perch]

!contract

[woven ibex]

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

[umbral crane]

But u miss out on the staking ur ilv wud have been doing for u in the meanwhile if u claimed earlier

[clever swan]

yeah so if you claim 5 ilv rewards once that goes into a separate smart contract. So a revis off that is one gas fee but that creates another claim which I assume is another smart contract you can then claim another revdis off of.

[dusk fog]

That's always the case at some point, you could claim multiple times per day if you get enough rewards. Sure it will accumulate more but there's a breaking point for gas fees.

[kind loom]

That's not how it works.

[clever swan]

I hope I'm wrong.

[umbral crane]

I thought u jus claim all rev dis at ince regardless of when u claimed other dtuff. I highly doubt thts how it works

[cunning perch]

you can let it pile....claim the Rev and then if you plan on re-staking it, it'll claim your rewards as well. So instead of 3 fees, you'll pay 2

[dusk fog]

When you claim Revdis it just ends up in your connected wallet I assume?

[nocturne monolith]

I appreciate the more educated people in here sharing insight!!! Lots of patience involved. Thank you so much. 👍

[cunning perch]

since you're wallet is connected, it'll move to it directly

[clever swan]

so when you claim revdis it pools all your other claims together and makes it one transaction?

[kind loom]

There is always only one claim.

[umbral crane]

I remember someone saying all ur revdis jus pile up and u claim it at once

[clever swan]

thank god. my brain was about to explode lol

[dusk fog]

But there still has to be an approvement of the gas I assume, you'll have to claim it somehow if you want it to your wallet

[cunning perch]

No. Rev will go to your wallet (fee) then you can stake it and it will claim your unclaimed YF rewards too (one more fee and you get stake and claim together)

[noble bridge]

quick question staking is usually inflationary, i know SLP pool adds liquidity ie adds our ILV supply back to the pool to be traded, does the ILV pool also give the same liquidity, meaning it increases the available ilv supply which would kinda prevent massive moves in the ilv price or is any of that token locked up meaning market maker cant use it for supply since its not locked up in like sushi swap

[cunning perch]

Rev is still not there. I believe they will set another section solely for RevDis and then you can claim RevDis which is in a format of Withdrawing to the wallet

[dusk fog]

Alright, thanks

[clever swan]

so let's say i have 20 unclaimed rewards, does getting revdis pool all those together so it's one transaction?

[quick flare]

what happens when the staking period ends? will the token be transferred back to our wallets?

[noble bridge]

no you can leave it in there and continue to get weighted distribution

[umbral crane]

Whenever it ends you can do whatever you want with it

[umbral crane]

Whats weighted distribution

[clever swan]

I think you need to unstake it involving another gas fee

[cunning perch]

Well no not exactly. ILV circulation will change when people use sILV. Also, when it's staked (ILV only pool) it will not add to to liquidity afaik. LP will add to the liquidity.

[quick flare]

will this staking program last? like after the first year, we are able to stake for another?

[dusk fog]

No, it will remain staked but unlocked. No fee until to actually choose to unstake

[cunning perch]

staking claims the rewards, not withdrawing afaik. For RevDis, you've gotta wait for more info to be released

[umbral crane]

I believe it shud but much lower apy a yesr from now from what i understand

[clever swan]

right. I thought he was asking how to get it back to his wallet after staking lock ended.

[cunning perch]

staking will be there as long as there are ILV games as many will stake their RevDis. Only YF ends in 3 years (sILV as well)

[cunning perch]

APY and YF won't matter as they will all probably be dwarfed by RevDis

[umbral crane]

Whats yf?

[cunning perch]

Yield Farming

[quick flare]

thank you, always informative

[cunning perch]

No worries brother 🙂

[nocturne monolith]

Now, RevDi happens with both SLP and ILV, regardless of which staking option you choose?

[cunning perch]

for SLP your ILV matters and for single pool, also your ILV matters. That's why you get more rewards from LP and not the single pool, to compensate for IL and other stuff.

[quick flare]

can't wait for weekend for lower gas fee to stake in both pools 🥺

[unreal storm]

OMG I want to participate but 200 bucks to do so is craycray

[cunning perch]

wait for the weekend. It MIGHT come down a bit. No guarantee though

[unreal storm]

Wait for the weekend? Prices go down? Should I wake up at 3am and do it?

[final steppe]

https://tenor.com/view/im-almost-ready-to-go-party-weekend-cute-kid-gif-14520479

[unreal storm]

💯

[cunning perch]

It's just a wild guess. Last SUunday it was sub 20 Gwei.

[final steppe]

That was good times...

[cunning perch]

yeah . I should have claimed. rewards just piling up 😄

[final steppe]

My past few claims have all been on Sundays

[unreal storm]

Thanks peeps! I'll do it on the weekend. Not gonna stress over it.

[cunning perch]

haven't done any in August....sux 😦

[quick flare]

1 silly question, why does gas fee usually go down in the weekend? like I think people don't have to work so may trade even more 😅

[cunning perch]

Fewer transactions probably as every major company is closed and money doesn't move as much as in the week days

[still kindle]

Also most NFT mints and Art Mints tend to be during the week

GasNow has literally this hour 12pm ET as THE most expensive all week on their average chart

[quick flare]

makes sense

[still kindle]

By the way I love this whole community, staking is super complicated and Ive been helped hugely by this channel esp by Stormi. Im feeling happy and somewhat confident enough to try and give back where I can with answers

[cunning perch]

Don't hesitate to ask whatever question you have 🙂

[umbral crane]

For real ive learned so much in 2 days

[neon isle]

Coming from someone with literally zero knowledge about crypto, this channel really helped a lot

[crude bone]

Same this is all really useful made me research the defi space more - looking forward to the game too

[charred rampart]

Hey everyone. I wanted to know how often the core ILV pool compounds rewards, at what time rate? Also, what does “weight” indicate?

[manic spindle]

Compound happens when you claim your yield farm rewards as ILV. Unclaimed rewards do nothing 🙂

Token weight determines how many staked ILV you effectively have for rewards calculation. 1 ILV with a token weight of 2.0 counts as 2 ILV in terms of Yield Farm and ReviDis calculation for example 🙂

[charred rampart]

Ok maybe I’m misunderstanding. The core ILV pool, which compounds around 80%, I wanted to know, how often it compounds. Compound interest happens at different rates of time, what is that rate of time? Ie. at 1 month intervals. Compounding is a continuous event

[next ruin]

You gain 80% APR on your staked tokens (this happens constantly) - unclaimed rewards are not staked. Whenever you claim is when rewards compound.

[manic spindle]

Yield Farm rewards, regardless of pool, are piling up with every block so roughly every 13-15seconds. That is how often you get rewards based on whatever you have staked. Unclaimed rewards do not count.

[meager prairie]

is compounding the same in concept for slp pool as well

[next ruin]

The concept of compounding is earning interest on your interest earned to date. Both pools require rewards to be claimed, so yes - no compounding on either pool until rewards are claimed.

[meager prairie]

Sweeet... Thank you

[clear cape]

wen lambo

[meager prairie]

lambo is still in the land of limbo

[nocturne monolith]

Blows my mind that people haven't started swarming into this quite yet. Just when I thought maxing out my Roth IRA was the best I could do as far as an investment...

[dusty kraken]

My money is 50/50 split between the ILV pool and ILV/ETH LP. How about you guys?

[hot lynx]

wen moon 🚀

[meager prairie]

hahaha... just debating that right now amongst myself... I came up with 60% ILV and 40% ILV/Eth

[clear cape]

Get rich by investing in stocks or crypto. Index funds , maxing out roth etc are helpful but it’s boomer advice. It’s an echo chamber where people feel like that’s the only way and anything else is gambling, those people will never take the risks associated with getting rich. (If you already have the wealth, then yes those are good avenues to maintain and continue to build it)

[nocturne monolith]

I'm somewhere in the middle. There are of course many people who are risk averse and that's totally fine. Indexes are a great way to get ahead for them.

I would consider myself in that group but slowly, with some education I'm more comfortable opening myself up to more risk.

[clear cape]

It’s definitely good allocation to them..not dissing them, it’s more to the crowd who want to create wealth they don’t already have but think investing in index funds is the most OPTIMAL option. I mean I guess it is maybe but it’ll take a long ass time lol

[dusty kraken]

damn these gas fees are stupid high

Not even worth collecting my rewards

[nocturne monolith]

Pretty wild right now

[neon isle]

why

[gusty palm]

hello if i chose to lock my staking what happens when the lock period ends? do i need to unstake and then restake or does it default to lower apr?

[wanton nova]

They keep being staked with the weight you initially staked them with.

So if you stake for 1 year with weight 2 after 1 year they just keep staked with that weight. If you withdraw them they lose this weight.

[wanton rose]

If I am claiming my rewards in sILV right now, and the game launches and revdis is out, would I have to swap to collecting ILV to collect revdis?

[wanton nova]

If you claim as sILV you won't get revdis and Silv can't be swapped to ILV

[wanton rose]

I heard that sILV will be used for land sale, so that's why I'm stocking up. But it's possible to just claim sILV now, and swap to ILV later, right?

[wanton nova]

When you claim you have to decided. It's either Silv or ilv. There might be a liquidity pool where you can change but that wouldn't be an official way and probably not for a 1:1 ratio

[pale silo]

If i lock my stake for 52 weeks will i be able to withdraw some for use when land sales come out? sILV i was meaning

[cunning perch]

Why lambo? there are better cars...wait let's not go off-topic 😉

[wanton nova]

No. If you lock it it's locked. But your locked ILV will generate rewards. These rewards can be claimed as either ilv or Silv. Silv can be used for land sale. However land can only be purchased with either eth or Silv,afaik

[pale silo]

Cool thanks how often are the rewards generated?

[wanton nova]

Every block, so 13 - 15s. They accumulate and when you think the gas is worth it you can choose to claim

[pale silo]

cool cool is there any minimum for staking?

[wanton nova]

No you just have to decide if gas is worth it

[pale silo]

Awesome thanks for your help @wanton nova

[wanton rose]

Is it the same for revdis? Distributed like yield farming rewards over time? Thanks for the insight.

[wanton nova]

AFAIK revdis will be distributed multiple times per week. And they also accumulate and can be claimed whenever one feels like doing so

[wanton rose]

Thank you. Do you know where you heard "multiple times per week" from? Also, i'm just wondering if it's like sent as farming rewards, slowly, or is it like an airdrop where you claim a bunch in one transaction.

[wanton nova]

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

[wanton rose]

I've read that article before, but I couldn't find the weekly thing. Not saying you're wrong or anything, i'm just blind

[neon isle]

exactly what i was thinking as well thats why i'll prolly lock on ILV-ETH up until mid november 2 weeks before the tentative release date so i can switch back to ILV pool

[wanton nova]

Check the vault distribution section.

I would assume it will. Be handled like normal rewards. You have to. Pay gas and claim the revdis. But that's just my. Guess

[neon isle]

cuz i dont wanna hold more eth when ILV gives out revdis

[wanton nova]

All in-game purchases and fees in ETH are sent to the Vault contract. Periodically and automatically, the Vault contract uses the ETH to purchase an equivalent value of $ILV from the $ILV/ETH Uniswap V3 pool and $ILV is distributed to staked token holders in proportion to their stake*

Don't know where I got the 'multiple times per week part from' 🤷

Maybe check medium article 28 and 29. Or maybe it was mentioned here sometime or I dreamt it. Sry

[clear cape]

More eth lol? you mean more ilv right? ILV is going to outperform eth without a doubt.

[neon isle]

yeah but doesnt that mean the opposite on an LP? correct me if im wrong but based on my internet searches the more ILV outperforms ETH the less ILV you have on the LP right?

[clear cape]

correct, but the APY offered mitigates this.

that isnt how it works, how much eth you end up with is dependant on how much eth has gone up or gone down in value depending on your initial investment

if you have 10k in eth right now in slp, if eth does a 50% from now and by the time it is locked, you will have 15k in eth

this is not correct from my understanding

[neon isle]

I see, actually i wanna ask something cuz idont really know how LP works. If the price changes in favor of ILV then you'll have more ETH. Would that make your revdis from just your LP stake variable to the price?

[meager hemlock]

Can someone help me with gas fees questions in help channel - #❓❗〕community-help message

[clear cape]

What i dont agree with is this sentiment of price changing favour youll have more of eth.

If you currently have 10k of ETH and 10k of ILV worth both in the SLP pool, so 20k, that is your initial investment.

if eth does a 50% jump and ILV does a 100% jump, you will end up with :

15k eth, 20k ILV, so a 35k SLP pool.

this impermanent loss is the fact you didnt go 100% in ILV, meeaning you would be on 40k.

40k-35k = 5k IL (impermanent loss for anyone reading this who is new to it)

[swift spindle]

So in that case if you were to unstake and sell you'd still have made $15k, right? You just wouldn't have an equal weighting in your LP of ILV and ETH?

[clear cape]

I believe this is the case

[brisk surge]

Bro thats not how LP works

[clear cape]

can you please explain it, i want to learn it too since i might be wrong from my interpretation ?

i think u r right

But doesnt the APY counter act the potential IL in about 2 months, given the APY remains stable ? As in, you would make back about half of your initial deposit (so that half you converted into eth)

[swift spindle]

This is helpful,thank you

[clear cape]

Ah so essentially you are golden, as long as the APY will last you long enough to reap back your rewards, and that is part of the risk you are taking ? banking on the APY?

i agree holding ETH actually is a hedge in the LP pool, as it will actually lower your risk in a sense if the project were to be delayed/crap

[brisk surge]

RT7 watch a video of LP pools on youtube. I think they will explain better and more visually than I can do

[clear cape]

Is the guarantee you talking about that it isnt guaranteed the APY will last long enough for us to get back half of the initial investment ?

[neon isle]

if the APY stays stable or decreases in a slow rate until Dec isn't it possible to make back your initial SLP stake in 4 months? On ILV rewards ofc

[clear cape]

Yeah pretty much

[neon isle]

But if the ILV's price jumps on dec you'll hold less ILV on the LP so less revdis on that stake right?

[clear cape]

Yeah that would make sense, but i think this will be made up through the ILV you have been rewarding through the LP

[neon isle]

i did like minutes ago. teach me your ways

[meager hemlock]

I was told in other channel that staking in Sushi LP pool with 1 ILV is not worth because of gas fees. Can you guys confirm it?

[neon isle]

i basically just started learning about crypto like a week ago so i dont know very much

[clear cape]

SLP % goes up with ILV price, so i guess we have that lol. and hopefully not so many people in the pool join to dilute this increased apy

[neon isle]

i guess that would depend. If its on the reasonable amount of gas then on the long run its worth it. short run it would hurt like a btch

[clear cape]

If you make up half of your initial deposit back through SLP, would you say a lot of the risk from IL would most likely be gone then ?

[meager hemlock]

"If its on the reasonable amount of gas" - meaning when I buy SLP ? or what?

[willow bolt]

i staked some alluvium last week (365 days) for 2x rewards, are there any other rewards or benefits that I might recieve from doing this.

[cunning perch]

swapping/staking/transfering and SLP all are smart contracts and require gas. If Gas is high and your stake small, It will be better to wait for times when it's cheaper

[clear cape]

where can i get some alluvium

[ruby wing]

potential to get random NFT drops 🙂 team is working on it

[cunning perch]

make sure you claim your rewards occasionally in ILV and/or sILV whichever your preference 🙂 and yeah....what @ruby wing said....might get some NFTs...who knows

[meager hemlock]

so what you saying is stake when gas is low and collect staked rewards when gas is low?

[cunning perch]

do whatever you can when gas is low. you don't wanna pay high gas...trust me....it's crazy these days.

[neon isle]

When you claim rewards on the SLP you're claiming on both the ILV/ETH and ILV pool right? Does that mean double gas fees?

[cunning perch]

SLP yeah...needs more gas

[willow bolt]

I staked 5 and last night it showed that I could claim 5.06. Since it has been a week I figured that I could just claim these in 2, 3 or 4 monthes. I didn't think it mattered. I thought that I just need to claim every so often. What is your recommendation for how often should I claim my rewards?

[brisk surge]

Does someone know why ILV web is valuating SLP token at aprox 2,520 and in the pool contract says that currenprice is 2,630. (TVL of 161,500,000 for 61,414 SLP tokens)

[meager hemlock]

Would staking 1ILV would be good enough for SLP pool?

[ruby wing]

I have a rule of thumb: 1$ of Gas for 1 ILV

[cunning perch]

depends on you really. you have to be midnful of gas when you do wanna claim.

[cunning perch]

I think I need to borrow your thumb too 😄

[ruby wing]

I mean I havent been claiming

[cunning perch]

me 2. haven't claim for the entire August

[ruby wing]

so at current gas prices I wouldnt claim until likee 30-40 ILV? Lmao

[cunning perch]

It depends on you. You have to take GAS into account. It's literallly 1/5 of your stake if not more

[ruby wing]

no, like I said. I dont think its worth it.

[cunning perch]

Yeah probably true. I'll probably do in the middle of September

[ruby wing]

unless u lock for 52 weeks and dont touch it.

[willow bolt]

When you say 1 dollar of gas for one illuvium, I think that what you are saying is that I should click on the claim button and then it will tell me how much the gas fee is. If the gas fee is $5 (regarding the 5 illuvium that I have) then I should claim the reward. Is this correct?

[brisk surge]

The gas fee right now is minimum 100$

[ruby wing]

ya I think its a good rule of thumb for current prices. this could change over time.

[willow bolt]

is it ok if I just claim every 4 monthes?

[cunning perch]

the team left claiming manual for all so everyone would do it manually based on when they are comfortable. So, it's always a good idea to know your stake and how much it's worth to pay gas for. For now, just be cautions and claim when you have enough to justify the gas you're paying.

[cunning perch]

Be advised that when you claim, the rewards will be locked for one year

[ruby wing]

Ya, you should be ok.

[meager hemlock]

I will lock. Lets say I wait when gas is like $30 or something and stake in SLP and only collect rewards when they are high enough. It should be still very profitable, correct?

[willow bolt]

so if I claim in 4 monthes it will be one year and four monthes before I see these rewards, is this correct?

[cunning perch]

yep. then you can withdraw or leave it there

[ruby wing]

Cant guarantee profit, but if gas gets low enough u should be ok. I still hold strong on my point that I dont think staking 1 ILV in slp is worth it.

[meager hemlock]

but staking in ILV also needs gas so what is the problem here? yes SLP needs 2x gas but it has like 7x more % in rewards

[cunning perch]

Well that's why I said it's a matter of choice. You have to decide what's good for you and what sounds logical.

[willow bolt]

I see, this is making sense. So I just want to keep an eye on the number of rewards that I have and the gas fees in order to justify claiming them. The sooner I claim them the sooner I will be able to recieve the rewards.

[cunning perch]

yes. exactly that 🙂 Make a plan...stick to it...you'll make it

[ruby wing]

yes and the sooner the will compound 🙂

rewards go into the ILV pool and compound at 2X weight over the 12 months

[willow bolt]

what do you mean 'and the sooner they will compound'

[cunning perch]

The moment you claim...they will add to your stake and generate more rewards

[willow bolt]

oh i see, so my rewards can compound also, but only if I claim them. Is this correct?

[meager hemlock]

if its not secret have you staked in SLP pool? and how much? @cunning perch

[willow bolt]

nevermind the question I just saw the answer

[cunning perch]

I'm all in the single pool from the begining. Will probably join SLP with my RevDis if still profitable. Didn't wanna experiment with my bought tokens.

[meager hemlock]

RevDis - what is that?

[cunning perch]

!revdis

[woven ibex]

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

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

[meager hemlock]

@cunning perch - "Didn't wanna experiment with my bought tokens." what you mean?

[cunning perch]

Means I didn't wanna run the risk of exposing my bought tokens with IL (Impermanent Loss)

[meager hemlock]

Ohh got it. I need to read up on IL.. thanks for help

[cunning perch]

No worries. Feel free to ask whatever you don't understand and need help with 🙂

[hot lynx]

They generate no rewards before you make the claim

[cunning perch]

yes. hence "the moment you claim" part 🙂

[hot lynx]

Your in lock or flex

[cunning perch]

Def core pool. Flex is for short-time traders who are ready to sell imo

[hot lynx]

That's why I have been claiming 👀

[cunning perch]

Gas is too high for my taste now. Gonna wait a bit more before claiming atm

[hot lynx]

Core pool 12 mths lock

[cunning perch]

I would lock longer if I could lol. Gonna be here years after YF ends

[granite halo]

Hold up. Regarding impermanent loss.

Let's say Eth dumps to 2k, but ILV goes to like 3000, does the SLP token price go down/up to reflect that?

[ruby wing]

there is a calculator pinned

[cunning perch]

ILV pumping (out-performing ETH) means you are gonna lose your ILV to ETH.

[hot lynx]

Core pool and LP 12 months lock . No flex periods for me ATM

[hot lynx]

This really only matters . If it's the case on the day you withdraw. 12mths from now ..

[cunning perch]

Withdrawal will revoke your right to get RevDis and you'll lose that stake's weight...not gonna do that lol

[granite halo]

I am fine with losing my investment ILV on withdrawal because the APY should bring back more ILV than originally invested from the APY.

I am just wondering if it is possible that if ETH dumps, will the SLP coin price dump as well?

Meaning the APY of X00% would be outperformed reward wise by pure ILV staking pool.

Sorry I am ignorant about liquidity pools.

[hot lynx]

The impaired loss is my point of reference . I am keeping my tokens in so I don't care about % possible loss on withdrawal

[cunning perch]

As long as ILV follows ETH, it will be effected by ETH, so its dumping/pumping will def be effective for now

[granite halo]

It's definitely gonna decouple.

[cunning perch]

Until then, It's a ride ILV has to share with ETH

[granite halo]

You can already see that with AXS. Stays pretty rock solid because of the staking possibilities.

[cunning perch]

ILV will have more than staking when it goes live.

[granite halo]

Can you do the revdis command forme?

[cunning perch]

#🥩〕staking message

[remote mauve]

question. so if I stake flexible and make 1 ILV a week. does that mean if i staked locked for a yr 2x i would make 2 ILV a week?

[cunning perch]

RevDIs will not be staked. It will be free to claim. You will have to decide what to do with them

[hot lynx]

@knotty river

[cunning perch]

Price in #💰〕token thx bro 🙂

[remote mauve]

also if i am getting 1 ILV a week will my rewards go down as more people discover ILV and also stake? more stakers less rewards to divy out?

[cunning perch]

APY will go down hen more ppl join. Also there will be a 3% drop in the single pool every 2 weeks

[hot lynx]

Was checking the Bot options 😅

[remote mauve]

single pool 1x is that the flexible?

[cunning perch]

sorry wrong message. Single pool is ILV only pool and not SLP and it's core pool. Flexible is the pool in which your tokens are unlocked and the weight in the lowest

[remote mauve]

question. so if I stake flexible and make 1 ILV a week. does that mean if i staked locked for a yr 2x i would make 2 ILV a week?

[cunning perch]

RevDis will reward every single staked ILV whether in SLP or ILV pool 🙂

[hot lynx]

Do we have a Gas bot for staking and claiming

[cunning perch]

#💬〕general message

[cunning perch]

you mean a formula? check the pinned messages

Well RevDis itself is a total speculation for now. But yeah. You said it right

The first RevDis will be paid by Land Sale. It probably won't be that low and there are lots of ppl willing to play and not all will be stakers and therefore cannot use sILV and need to spend ETH. So even from the start, RevDis might be quite significant.

[wanton nova]

Nfa but I think until revdis really hits the rewards gained from slp pool will have made up any IL imaginable. My experience after 1 month of staking on slp pool

[cunning perch]

still, let's keep RevDis discussion in #💰〕token and let here be just for claiming/staking

No worries 🙂

[dim moss]

@rotund wagon thanks for the info. So how is the higher rate enough to justify staking SLP rather than ILV?

[clear cape]

how long u think we can expect to maintain this apy coopy

[cunning perch]

You mean best time for claiming?

[wanton nova]

I don't know. All I can do is guess like all of us

[clear cape]

i dont think anyone knows the full formula like u said or predicting how the variables like amount of ppl staked, price etc can be predicted but is it possible it remains 400-600% for the entire 12 months lol ?

[dim moss]

The opportunity cost with higher ETH, gas fees, IL makes me rethink of staking SLP.

[cunning perch]

There is a formula in the pinned messages. That can help you 🙂

[clear cape]

depending on ur bag size, gas fees will be negligible

[dim moss]

Whats the general recommendation? Atleast 10 SLP? Just ball park

[clear cape]

10 slp should defintely be fine

[pale silo]

what is the average gas price for claiming rewards?

[wanton nova]

I don't know how much Apy is influenced by ilv price. I would assume that tvl increases quite a bit especially with game play trailer, first revdis after land Sale and game launch which will lower Apy. But it will also increase ilv price (I assume)
We just have to wait and see (and hope)

[cunning perch]

These days the lowest has been 20-30 Gwei

[clear cape]

I think APY is heavily influenced by price, if you monitor it, it generally is volatile with price movements the most (obviously mere observation). but this effect can be diluted if there is a tonne of new money flowing into the slp pool

[wanton nova]

I am just happy that I'm in early and will enjoy the ride no matter how Apy changes over time

[clear cape]

Yeah i wish i got in a month earlier from like 4-5 days ago but i think i made it early enough just to be better off with SLP pool

[neon isle]

when you stake on 2 different dates on slp it claims the rewards first right? So you have 2 gas fees when staking again.

[dim moss]

So you will both in ILV and SLP? Thanks. I’m new to LPs but the thing you mentioned about offsetting ILV loss in LP sounds good.

[clear cape]

Yeah we obv missed out but cannot write off an opportunity based on recent short-term price movement as long as you arent looking for a short term trade

People who thought they missed out on on a project after a pump, only for it to go up much much higher kick themselves. It's all about perspective, and with ILV as a project let alone the rewards you get off it, it definitely isnt a bad investment if you are entering now. like the gameplay trailer, let alone the game isnt out yet lol.

like @cunning perch mentioned one time, there will be people wishing they were us when ilv is 4 digits 😄

[midnight lily]

Where do we see the rewards on that 0.25% liquidity transaction fee?

[blissful fern]

Hi, I'm new here and I have a question. How to calculate income from ILV LP stacking. Example: I want stake 3ILV + Eth fot 1y, at this moment 633%APY. Acctual this will be around 3k$. Reward just will by (633%*3k$)/365days??Rewards is counted hourly/daily? I need some explanation 🙂 Thx

[drifting elbow]

Does the 633% Current APY in the pool takes in consideration as if the pool didn't grow? so, if no one ever staked anymore I'd get 633% anually even with the 3% dimishing returns per week, but because more people are expected to put money into it, I will then be an owner of a small % of the pool, and thus my APY will also diminish?

[midnight lily]

The 3% diminishing returns every week is only for the regular ILV staking, not the SLP

[wispy ferry]

APY is calculated based on a few factors such as Pool Weight, Token Weight, Amount staked, and ILV current value. It fluctuates constantly based on the factors so it is a variable interest rate and pretty much impossible to calculate your dollar value at the end of the year. Personally, I would focus on trying to calculate the amount of yield in ILV you can receive. If you can get a good idea on the amount of ILV tokens you will yield, you can speculate on the price of each token separately.

[drifting elbow]

but, the current 633% APY pools takes into consideration if the pool didn't grow more, right? as more people stake onto it, I turn into a smaller onwer of the pool, and thus I will receive less money?

[midnight lily]

Correct

Less ILV so to speak, not actually less money, but less ILV will = less money so in a roundabout way, yes

[drifting elbow]

Yeah, I see. Because I get paid only in ILV! ty!

[midnight lily]

The APY is expected to drop over time, while the value of ILV is expected to increase over time.

There is no way to accurately calculate what you will earn over the span of a year. There are numerous moving parts to the equation.

[blissful fern]

Can I stake ILV LP in two ways at one MM acount? With lock and without lock??

[honest grotto]

Before Staking I have to choose my reward ILV or SILV. Which one am I better to use?

Is SILV locked up?

[midnight lily]

!scam

[woven ibex]

🚫 EvanB, you can't use that.

[midnight lily]

Don't click that link ^^^^ it's a scam

[next ruin]

You don't have to choose before you stake - you'll get to choose each time you claim your staking rewards. sILV can be used to pay in-game fees, can't be staked for additional rewards, but is immediately unlocked. ILV claimed will be locked for an additional 12 months, earning additional APY. Which is "better" is down to your individual goals.

[midnight lily]

Just to be sure that I'm thinking this through correctly... the APY of the SLP is increasing because the price of ILV is moving away from the price ratio of ETH, and this increased APY compensates the lower amount of ILV held in the SLP as the ILV price climbs? That was very wordy, I know, but someone let me know if that's correct.

[gaunt marlin]

If I were to provide liquidity with SLP, how long would it take to recuperate your ILV at current APY that was used to provide the SLP? Does anyone have anecdotal experience?

It should just be a ratio not involving the amount invested.

[clear cape]

2 months for entire initial investment, 1 month for half. If you mean the 50% ILV turned into ETH then about a month or so

[gaunt marlin]

Is that on a 12 month vest? or flexible?

[clear cape]

Yeah, 12 months. Flexible would be insane

[gaunt marlin]

Agreed. Just double checking my numbers. I'm trying to figure if my bag size is worth the SLP or just ILV stake.

[wraith charm]

who aped into ILV?

[jade rampart]

i staked 7k of LP a week ago

im over 1 ilv in rewards at 400% apy

so there is no price value of silv yet? How often should you claim and restake?

[wispy ferry]

Yes but keep in mind every time you stake it will create a new "personal pool/vesting pool" so to speak. It does this to keep track of the 12 month rewards lock. But it will cost gas to transact from each.

[wispy ferry]

At current APY, assuming no other factors change, just multiply your amount staked by the APY percentage. Divide that by 365 to calculate yield per day. Divide you initial stake amount by yield per day for # of days to break even.

[brisk surge]

Don’t forget to take compounding rewards into account, each time you claim ILV it will be vested to the ILV pool, increasing your rewards

[wispy ferry]

sILV will be minted 1 to 1 at ILD USD price. As far as claiming and restaking, this is mostly a matter of preference. Every claim and stake will cost gas fees.

[unreal storm]

I need help with my metamask. So I have my ETH and ILV but every time I go to stake it says insufficient funds. Do I put both my Eth and ILV in 1 wallet right? I have 1 wallet called ILV STAKE and it has my eth for gas and my ilv but I can't get it to stake. I am gonna cry!! I've been trying to do this for 4 days now.

[wispy ferry]

Yes, that definitely adds much more value but also complicates the equation. For break even analysis, shouldn't need to factor it in as most will break even much sooner than the ILV reward lockup.

[unreal storm]

I did watch the video but it wasn't clear what to do.... I am a nobbie to token swapping.

[glass carbon]

you need to get SLP tokens from sushiswap first. That's what you plug into the staking site

[unreal storm]

What? The tutorial said I only need ILV to stake.

[gaunt marlin]

Agreed. With larger bags and negligent gas prices, you could claim more frequently before your break even period whereas smaller bags may not want to claim before breaking even.

[glass carbon]

oh for single stake ILV? yes sorry that's correct

[wispy ferry]

Are you trying to do single staking with ILV or staking LP (ETH/ILV)?

[unreal storm]

Well the ETH is for the gas right? I can't figure out how to pay the gas to stake. Even though i have enough ETH but it keeps telling me insufficient funds.

Do I put the Eth and ILV in 1 Metamask wallet and they take the gas out of that?

[wispy ferry]

Yes, it is for gas but also used when staking Sushi LP. Which staking tab are you in?

[unreal storm]

I only want to stake my ILV token

[wispy ferry]

Did you click on this one?

[unreal storm]

yes that is accurate

[wispy ferry]

Did you verify that you have enough Ethereum?

[unreal storm]

Then I choose 52 weeks and slide it all the way over to the right and click stake and it says insufficient funds. But when I look at my wallet it has 103 ETH and the gas fee was 99 so I don't understand.

[wispy ferry]

Gas fees are fairly high right now. Even if you do have enough, it may be worth holding off a bit.

[unreal storm]

Ok I'll try again this weekend. I just hate missing out on the fun cause i want to do the Beta.

[glass carbon]

103$ of ETH right?

[wispy ferry]

I hope that is inaccurate!

[unreal storm]

it translated it to dollars

[glass carbon]

it might just be too close to the cost

yeah I'd try again when gas is lower

[unreal storm]

Ooooo I SEE ok ok thank you!!!

Can I use a small wallet for the beta? I got an invite.

Oh I gotta go, at work Lawls! thank you so much everyone! Much abundance to all!!

[clear cape]

Does APY in SLP pool go up if eth goes up in price too or just ilv

[final steppe]

Beta selection hasn't happened yet! If you received a DM saying you're in the Illuvium Beta, it is a SCAM-- please screenshot and post in #🚨❗〕report-scammers so we can ban them if they're still around

[glass carbon]

oh don't click on that beta thing

it's a scam!

[clear cape]

Fuck @unreal storm plz dont get rekt god damn

[muted blaze]

Regarding the beta testing, does anyone know how you apply, or is there not a spot for that yet, when I go to the beta-tester-request and click on the link it does not bring me anywhere with more information

[wispy ferry]

I was just thinking "Did I miss this somewhere in the Discord?".

[mint cave]

there is no closed beta app yet

[unreal storm]

Ok I got the messages. OMFG!! Ok thank you!! I didn't click on anything cause I wasn't ready. Thank you! I'll to to my emails and screen shoot and submit.

[clear cape]

Dire please only listen to official information you see on discord server from now on, dont ever trust any dms unless you are 100% sure. And double check the source on social media too, sometimes people disguise themselves as a company but it is something different

[unreal storm]

I totally know this I work in Info Tech. 👍

I just got excited and read the email.

Oh it wasn't an email it was a message!! I remember now.

[wispy ferry]

Do we know if sILV will be phased out eventually?

[unreal storm]

Thx again all have a good day!! I won't click on anything! teee hee.

[frigid edge]

Hopefully not! This burns normie ILV

[mint cave]

what do you mean?

[wispy ferry]

I just don't see a purpose for it once yield farming is through

[frigid edge]

You can unlock and use for in game purchases right away vs waiting a year for the normal ILV rewards

[wispy ferry]

I understand that but going beyond that.

[mint cave]

the purpose is that it can be used in game instead of ETH for purchases

[frigid edge]

You’re rewarding people for going long on the normal staking essentially

[mint cave]

until they are all spent, then they don't exist

[wispy ferry]

But why transact with ETH to get sILV just to spend sILV in game when you can just spend ETH

[mint cave]

huh?

[frigid edge]

You can earn sILV from staking, so pekoe who are staking might want to claim these as rewards to play the game

[mint cave]

ILV =! sILV

!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.

[wispy ferry]

Im think 3-4 years down the road when yield farming no longer exists.

[mint cave]

then all the sILV supply would be in the owner's hands?

[wispy ferry]

Why would I buy sILV with my ETH when I can just use my ETH in the game

[frigid edge]

I think farming will always exist because almost 100% of in game purchases are used to buy back ILV

[mint cave]

who is buying sILV with ETH?

[frigid edge]

If you’re just trying to play the game, and not stake, you can indeed just use ETH

[mint cave]

there will never be an official pool to do this from the team, if there is ever a pool - it would be player made

[wispy ferry]

Revenue distribution from vault is different than farming and paid in ILV.

[frigid edge]

The vault buys ILV from the ILV/ETH pool

[mint cave]

right now, for example, people are willing to sell their sILV at under ILV market price...so they can buy more ILV to yield farm 😆

[wispy ferry]

I got it, at this time there will no longer be a need for it unless the DAO changes it

[mint cave]

i mean it will always have a use, but when yield farming ends, so ends any further sILV supply

[frigid edge]

Will yield farming end though?

[clear cape]

3 yrs

[wispy ferry]

Check the Illuvial council section. I dropped the same question there

[mint cave]

yes after 3 years

[wispy ferry]

Yes but Revenue distribution wont

[clear cape]

u can keep staked for 0% apy for revdis

[frigid edge]

Ahhhhh I see

So it will say 0% but in reality you’re getting dividends pretty much?

[clear cape]

yeah just not staking rewards anymore, is my understanding of it

[mint cave]

there will still be locking durations as well, as that will still affect your token weight and revdis amounts

[frigid edge]

Overall the tokenomics look great for the first year If the game becomes huge. You could see some massive deflationary effects from people claiming sILV, and major buy pressure from the rev dis.

[clear cape]

essentially it will incentivise people wanting to hold the coin, mitigating much downward sell pressure given the game continues to make lots of revenue.

[wispy ferry]

Did you understand my thinking of the phasing out of sILV?

[mint cave]

not really

i wouldn't count on any changes to how sILV works

[meager prairie]

I was just thinking... maybe there should be a discordchannel to help direct people to guidance for taxes... maybe get ahead of all the future questio s

[mint cave]

that will never happen, i can think of about 1000000 legal reasons

[meager prairie]

Good call

[wispy ferry]

So sILV and ILV must not exceed 10 million. Right now sILV can be claimed to use our rewards from yield farming and staking early to be used in the game. After 3 years, staking/farming rewards will run out and ILV tokens will be completely minted (some in sILV and some in ILV). At that time, why would we still need sILV or even want it. Sure you can buy in-game items but I can also buy in-game items with ETH. I can also remove ETH from the game. You cannot remove sILV from the game. My thought is as people spend the sILV in-game, it will be burned and redistrubted via the vault in the form of ILV.

[gloomy gazelle]

uh no it gets burnt and is gone

[mint cave]

if spent sILV was redistributed as ILV then the entire point of sILV is negated

it just becomes ILV that can be spent inside the game, yeah it has the same purchasing power as ETH but...so what?

[gloomy gazelle]

It's good that it's gone because it adds a deflationary aspect to the ILV tokenomics

[mint cave]

the last sILV minted is still a 1 year advance on the end of yield farming rewards

[wispy ferry]

If it gets burnt, where does the distributions come from?

[mint cave]

if you just sat on it for a whole year while not reaping the benefit of having your rewards being advanced basically, then yeah. it's just the same as ETH...but who would do that

[mint cave]

from ETH spent in game

[gloomy gazelle]

no distrobutions from sILV purchases... sILV is like a gift certificate...

[wispy ferry]

Any chance you could direct me to where I could read this?

[gloomy gazelle]

!read

[woven ibex]

Some important sources of information that everyone interested in and/or new to Illuvium should take a careful look at are:

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

[gloomy gazelle]

number 9

its in the tokenomics I think

when it talks about sILV and burning it to create a deflationary effect

actually not there... should be in white paper though... https://docs.illuvium.io/

sorry some stuff I just know to be true and can't remember where I first learned it

welp not there either

[wispy ferry]

Its all good but I just can't find where they talk about burning sILV

[gloomy gazelle]

maybe in AMAs and voice chat in here... the problem is it would not actually deflate the amount of ILV if sILV wasn't burnt when used. And that is the goal. Reduce the total possible ILV from 10mill closer to 7 mill

found this... #💬〕general message

[wispy ferry]

Thanks. Ill read through this. Definitely need to know if this means it burns the ILV supply or is he just saying its burns sILV but its reciprocating value in ILV remains.

[gloomy gazelle]

I'm telling you the value is gone. But yeah ask the admins when you see them around. That's probably who told us anyways

[midnight lily]

I’m just wondering where we can actually see our rewards from that 0.25%. It doesn’t exactly clarify it on the liquidity tab within sushi swap.

[wraith plinth]

Question on flash staking. How do I unstake. I don’t actually want to unstake right now, but I can’t find the unstake button and at some point I will unstake to put more into ILV. I just want to know how. Maybe you can’t unstake until the final block of the flash staking? Ok, but how do you do it after that?

[brisk surge]

I think all fees collected are added to the pool meaning when you withdraw liquidity you will get what you put in plus your share of the fees collected

[clear cape]

i think i heard it goes into the total usd value u hold. edit : yup exactly what scott said

[midnight lily]

That was my understanding as well but I’m just wondering if there’s somewhere to track it’s accumulation

[wispy ferry]

Will do. Thanks for the insight. I imagine they will need to update their papers quite a bit.

[midnight lily]

Ya that’s exactly what I’m thinking, but I’m in the same boat. Wanting confirmation from someone that knows better than I.

[wanton rose]

He says when players spend sILV (i'm assuming in game). So I'm guessing that when stakers claim sILV, it doesn't actually burn supply - atleast, not up until they can spend/use it in game

[midnight lily]

I’d be interested to know your findings

[midnight lily]

Claiming SILV doesn’t burn ILV but my understanding is that it prevents an ILV from being minted. So every SILV claimed lowers the maximum possible supply of ILV. At least that’s how I understood the discussion the other day.

[mint cave]

this is correct

[wanton rose]

Yeah i got it now. Nevermind!

[digital marsh]

When you turn ETH to Sushi LP. How do you turn the Sushi LP back to ETH or ILV?

[mint cave]

the same way, just reversed on sushiswap

instead of 'adding liquidty' on that tab, you just 'remove liquidity'

and you need ETH and ILV to add to sushi LP

[digital marsh]

So if let's say I get 10 Sushi LP do I need more ETH and ILV to turn it back to ETH or ILV?

I would try it for experimentation but gas is so expensive 😦

[left wharf]

If you are a nerd, there are some ETH testnets 😅
But if you are not that experienced, just ignore what I am writing.

[mint cave]

if you have 10 SLP tokens and you want to remove that liquidity, you just need to pay the transaction fee in ETH - and it will give you the value of those tokens back in ETH and ILV

you can see the value and ratio of ILV/ETH in 1 SLP token here:

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

[digital marsh]

Ahh okay so same in same out. Just gas fees and impermanent loss?

[mint cave]

so 10 SLP tokens would give you approximately 26 ILV and 4.13 ETH

[mint cave]

yes

[wicked herald]

Ouch to gas fees. Haven't moved ETH around since crypto kitties. It's costing something like $250 just to buy and stake ILV?

[copper dawn]

I would wait for the gas to be around 20-30 again. Thursdays are always crazy.

[wanton rose]

Can I withdraw a select amount of ILV? It always prompts me to withdraw all

[wicked herald]

Interesting, I wonder why thursdays haha. Appreciate it. I'll check back tomorrow.

[wicked herald]

I was just looking at https://www.gasnow.org/ haha

I'm guessing that there's no way to set it to approvethe transaction at $X fee amount?

[brisk surge]

You can set a max gas limit

[copper dawn]

You COULD submit a transaction with a lower gas price. I'm not sure if it'll eventually be dropped from the mempool if it takes too long (if your set gas price is not reached). Be sure to include enough gas for the computation (staking/unstaking) or the transaction will fail and you will lose fees equivalent to the computation used.

[wicked herald]

Interesting, I'm not too knowledgeable here. Thank you! I'll try getting a cheaper price this weekend and look into messing with gas prices later 👍

[copper dawn]

Yeah exactly, wait for the gas price to lower. That's what I'm doing.

Also, I just read transaction with the lowest gas fee will be dropped from the pool occasionally. I don't believe you'll lose anything, but the transaction can simply fail after a while.

[wicked herald]

Well that's good to know 😄 I was hoping you wouldn't forfeit some fee

[untold lantern]

Hi, question, as long as you have stake ilv and not claiming it even it is unlocked already. Revdis will continue to be received?

[ruby wing]

yes I think so

[untold lantern]

Noted thanks. Hehe cause i only locked for 6 months and I planned not to remove it 😅

[ruby wing]

true

welcome aboard

[untold lantern]

Thanks, tho i'm aboard for 1 month already haha but this is a nice welcome hehe. Just confused still on some aspects

[analog tapir]

Hey guys! New to all this haha

If I need to buy Etherium is there any difference if I buy it from MetaMask, Trust or Binance?

If so where is the best place to buy it…

[proven mason]

Metamask is probably easiest

[exotic igloo]

Check the pinned video tutorial

It will help you with the process

[analog tapir]

Also if it’s my first time buying Eth and I’m in Australia is there any place where I can buy it?

Like I have a MasterCard and some places like Crypto says that I can only use a Visa card 🤷🏻

[kind loom]

Look who's auto-shilling himself

[untold lantern]

Easiest way is thru binance i think

[gloomy gazelle]

He is the people’s man

[kind loom]

Just trolling him 😅

[gloomy gazelle]

Good. He deserves that too

[keen ridge]

can someone explain what the weight means when locked staking havent seen it before?

[gloomy gazelle]

weight is the value the protocol reads your deposit as having. So if you have 10ilv at 2x weight the protocol gives you rewards as if you actually had 20 ILV deposited.

But when you withdraw the initial balance it will still only be 10ilv.

Lock for longer and get higher apy. That’s basically what it’s about.

[keen ridge]

ahhh right, so it gives rewards based on the 20 ilv?

[gloomy gazelle]

Yeah.

[keen ridge]

wow thats mad, tokenomics on this are unreal. ty

[gloomy gazelle]

The APY shown on the staking UI is what it would be for deposits locked for 12 months. Flexible deposits are at half the apy shown

!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

[true spire]

Can we agree that the APY on the ILV pool should decrease at a faster rate than Sushi LP since all of the ILV reward is distributed in that pool. Therefore higher TVL = lower APY. Im I right?

[gloomy gazelle]

That is what has been happening yes.

The only way I can see for SLP pool to have the lower apy is for ETH to greatly outperform ILV. like maybe by as much as 10x. But that doesn’t seem likely to me. I may also be off on that estimation.

[true spire]

That makes 100% sense, thanks for the info!

[clear cape]

Wouldn't more people joining into sushi pool dilute it down too or?

[true spire]

Yes it would, but the ILV pool will generally decrease at a faster rate.

[gloomy gazelle]

Yes but there’s still more ILV in the other pool than there will even be ILV on the market for like 18months

[clear cape]

nice. i know u obviously cant gurantee shit pelican or accurately predict, but does that mean u think sushi lp should hold up at least 400% and above till EOY?

[gloomy gazelle]

If the price of ILV and ETH don’t change… yeah I’d think so… when the prices change the apy changes for SLP

[gloomy gazelle]

Mmm I forgot about the seed and preseed tokens and those starting to unlock but I still think I might be right or at least close…

[manic brook]

Hey mate, Aussie here. I used CoinSpot to create an account and buy ETH. I did as direct deposit but via card likely works. Then once purchased in CoinSpot, I transferred into metamask. Then once coin is in my metamask wallet, I then followed the links on the Illuvium website to buy ILV and then to stake. A few transaction costs along the way but worth it in my opinion.

[sly spoke]

When doing liquidity on sushi to get sushi LP does it have to be ether? Can it be tether usdt for example? Hate to pay gas fees to get ether just to turn around and pay again...

[mint cave]

no, you must provide an equal USD amount of ETH and ILV

[boreal narwhal]

Hi guys. Is it better to stake in SUSHI LP than ILV since SLP has higher weight?

[icy ocean]

SLP has way more risk, but really for now not that bad, also depends how much you want to put in , SLP on short term at the moment would be more or less safe , but you need to invest quite some money to make it worth in short term, also it is not weight that is larger , but you get 0.8 ration in that pool instead of 0.2 in ILV

[sly spoke]

Is there a calculator to figure out how much your stake generates in rewards? And how often? Just trying to figure out how it all works

[icy ocean]

I don't see a point of it , it would be like guessing how many ILV and LP pool buys there will be

[gloomy gazelle]

You use the APY to calculate your rewards.

[icy ocean]

they did post hours though , I think it was 72 if I am not wrong

[gloomy gazelle]

600%apy on $1000 worth of SLP tokens will be $6000 worth of ILV received as rewards after a year. But how the rewards accrue is actually like every block so you can vest your rewards sooner than the end of the year.

!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]

Check out the how to video

[clear cape]

anyone here doing flexi slp at all ?

[mint cave]

i was 😄

[clear cape]

how much is gas fee to stake into ILV pool @ this gwei, can some1 pls check for me ? i havent enabled it yet and wanna know if its worth staking my current holdings rn

[gloomy gazelle]

I was too. But then thought what’s the point of half the rewards.

[clear cape]

I asked because i have a bag i wanted to flip for the upcoming trailer, but i hate seeing my ILV sitting there not staked hahaha. doesnt feel natural to have ilv just sitting there. considering flexi ilv pool but idk if the trade off is worth it if im holding this for like 10 days or so

[outer seal]

Tried to stake just now! Cost $118 waithing untill tomorrow

[gloomy gazelle]

Yeah gas gwei is up today

Apy/104 gives you your potential flexi rewards rate for one week. It’s probably not great. But hey some folks still dive in the flash pools for those rates.

[clear cape]

nice

[frigid mantle]

sushi pool is lit

2 days and im at .5 ILV rewards

[clever swan]

if gameplay trailer comes up and pamps us to around $600-700 next few weeks and more stake slp what do you guys think the apy on the slp will be if eth stays around the same price as now?

[steady trellis]

Anyone around that is good at math, pool rate, etc. ? Need someone to check what I've done to simulate pool claim impacts. I know myself, I know i've made some mistakes. I used @elder dawn work as a base. https://docs.google.com/spreadsheets/d/1eupQ4baU_GGR3WAk5fDrQI29O4jJcc_bd9ueaiPk-Gg/edit?usp=sharing

[gloomy gazelle]

Hmm my unverified estimation is that ILV price increase increases APY of SLP rewards by about half the rate of price increase. … let me see so that could mean the APY could end up seeing a 1.2x increase but that doesn’t consider additional SLP getting staked. Or maybe it does. I don’t know. I’m making this stuff up based on observations of past trends and guessing math. My math above says if ILV price goes from $500 to $700 the apy for SLP could go from 650-780. It seems to much of a boost. Maybe half that to 730. I don’t know

[azure jewel]

So I have to do 2 transaction with $60+ dollars in gas fees?
One to claim rewards and 2 to trade it into eth?

[clever swan]

wow that would be intense. It's cool to be involved in staking with a project that will release real products with an economy around it rather then just financial assets. This whole week has been super fun learning. 👍

[gloomy gazelle]

Uh you can’t trade your ILV rewards for ETH right now. They are locked. Or are you wanting to withdraw your initial deposit?

[azure jewel]

So I can’t claim my rewards and transfer it into eth?

[gloomy gazelle]

Claim the rewards to start them vesting. And then wait to withdraw them until their 12month lockup is over.

You need to watch the end of the how to video.

!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

[icy ocean]

I think it is way more complex then that , would love to see full info on how system works, but as ILV and LP are connected , it seems to be quite complicated

or maybe they are not then again I dont understand why LP is 0.8 and ILV is 0.2

[gloomy gazelle]

Really it’s becuase of the risk and the help it gives the project to have high liquidity

[icy ocean]

I mean more about pool weight , they are prob not connected if you think about it , would make no sense

k

So it is just a hunch , because I have not read so much , but I suppose , there is no way ILV increse in price is good for APY

[gloomy gazelle]

So pool weight is just saying for every 1 ILV given as rewards to ILV only pool 4 are given as rewards to SLP pool

Oh increase in ILV price is definitely good for SLP apy. And completely irrelevant to ILV only APY

[icy ocean]

then what effect ILV APY?

[gloomy gazelle]

When ILV (the rewards) outperform SLP value (the deposit) the apy goes up

[clever swan]

ilv apy goes down 3% every 2 weeks but not slp apy

[gloomy gazelle]

Incorrect. Both pools get 3% less ILV as rewards every two weeks.

[icy ocean]

emm, so it is just time thing?>

[gloomy gazelle]

No.

[clever swan]

this is what i believed and then someone corrected me last night or so I thought

[icy ocean]

you both confusing me :d

[clever swan]

If slp apy also goes down 3% I guess it can be countered by the market?

[gloomy gazelle]

He’s talking about this chart. But that’s not APY shown here. It’s just how much ILV is given as rewards. Apy takes that number (how many ILV rewards are given) and then to how much TVL are those rewards being distributed.

Both get less ILV. It’s in the tokenomics.

[icy ocean]

you know what I find funny

[gloomy gazelle]

That’s the only fact I have here. 3% reduction of ILV being distributed every two weeks.

[clever swan]

interesting. didn't notice this chart before. Around where are we on it now?

[gloomy gazelle]

Let me check

[clever swan]

fortnight is 2 weeks but I don't know where this chart starts

[gloomy gazelle]

Just started bar 5 I guess

[clever swan]

slp started a little over a month ago?

[icy ocean]

k it shows decrease in total distribution, which again is strange to make max distribution at start, but k , question is still what effects APY