🥩〕staking

[gloomy gazelle]

June 30

[clever swan]

so bar 26 is like one year in

[gloomy gazelle]

17,705.86 ILV to go to ILV only during the next two weeks

70,823.42 ILV to go to SLP the next two weeks

88,529.28 total rewards for next two weeks

[clever swan]

this was great timing to get into these stakes

[gloomy gazelle]

Well I’m not sure each bar actually represents a fortnight. The numbers don’t add up. I literally counted each bar once.

[icy ocean]

so we can agree that increase in ILV tokens does not increase APY but decreases , it why you say it increases if distribution is set in 72 interwals , with set amount increase in ILV only decreases amount each person gets per ILV

[clever swan]

I just used dictionary def but maybe there's a cultural diff def

[gloomy gazelle]

Increase in PRICE does. I’ve seen it

[clever swan]

we were talking about price

omg we need to turn off this slowmode at night time haha

[naive fossil]

So i was wondering when you stake u get paid for every week right.

So for example if u stake for 3 weeks. Does the value you gained from the first week gets added to the pool and gets increased to for the next week?
Or is it only the amount you put in for staking?

[icy ocean]

it MAKES no sense

[gloomy gazelle]

Before ILV pumped the APY of SLP pool was not nearly as full. But the apy was at 500%. Now the price of ILV has pumped way harder than SLP so the APY is up

[clever swan]

I saw the apy drop during the price drop and then just recently go back up with the price increase

[icy ocean]

If only somehow price increases but staked ILV decreases

[clever swan]

maybe people are selling flexible

[icy ocean]

I am talking about ILV pool not SLP , I dont even want to think about how SLP pool actually works

[gloomy gazelle]

Well of course ILV staked for ILV doesn’t matter what price ILV is

We’ve been on about SLP staking

Lol

[gloomy gazelle]

Nope. It’s different. Watch the video. I think it’s in there.

!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 read trough SLP guide and some other articles and came to conclusion that they are bad at explaining, so I dont want to do anything with SLP :d

[clever swan]

it's bc these are complex financial products they are trying to explain to people with little to none financial bkgd.

ppl like me lol

[icy ocean]

Sorry , from explanations I have seen , it is not even trying

[gloomy gazelle]

Sure SLP is harder to understand. I definitely didn’t get it. But now I regret not being more heavily in that pool. I got scared. But now I know. It’s just nice. For long term

[clever swan]

yeah this is what I was saying before because there's high probability this game will actually exist. hopefully it's fun too 😅

[naive fossil]

Whats SLP? I only know the token

[clever swan]

sushi liqidity pool tokens repping 1:1 eth to ilv

[gloomy gazelle]

It’s the sushi liquidity provider token.

[naive fossil]

Ah makes sense thanks

[gloomy gazelle]

It’s not ideal for small bags though. The gas cost compared to just ILV only is 3-4x

But if gas is not a concern IL can easily be overcome with a long enough staking period

[naive fossil]

Yeah its better for the big boys. I just own .486 ILV. But i gonna buy some more next week maybe

[gloomy gazelle]

Teemo doge. Lol

[naive fossil]

I love doing faace swaps in photoshop LOL

[icy ocean]

for example try to wrap your head around this, how it is possible that ILP APY becomes larger then SLP if it is 0.2to 0.8 ratio and distribution is set in such margins

it would make sense if it would be just question of number of people involved in each , but it has to do wit ratio of prices,which makes me very confused

[gloomy gazelle]

I don’t think the ILV only pool will ever have a higher APY than the SLP pool. Never has. Never will. (Technically it’s possible but it’s so improbable that it’s not gonna happen)

I was trying to say the APY in the SLP pool will go up when the price of ILV token goes up.

[icy ocean]

SLP pool generates ILV too right?

[gloomy gazelle]

Yeah

[icy ocean]

Then how it is even possible with 0.2 to 0.8 distribution , setting aside amount of currency involved in each, taking in account that there is set amount of ILV being minted in 72 cycle that anything even close can come to happen and what it has to even do with ratio

I just don't understand , if 0.8 goes to them anyway there is no way for it to change

[clever swan]

that's a %

[icy ocean]

yes thats 80%

[clever swan]

the staked amt dictates the tokens no?

[gloomy gazelle]

It’s only possible for ILV only pool to have higher APY than SLP pool if way less was staked in ILV only. And way more was staked in SLP. And even then… eventually the rewards would get vested and the ILV only pool would have its APY drop as it filled with ILV. It’s not gonna happen like that.

Anyway I’m done. I gotta sleep. I hope y’all had fun. Thanks for talking it out.

I’m not even sure that’s what you are talking about anymore.

https://tenor.com/view/spongebob-squarepants-patrick-star-uhh-drool-sleepy-gif-4299149

[icy ocean]

Have a good rest 😄 k , It was said that ILV- ETH ratio is important, maybe I misunderstood it and they were just talking about impermanent loss, which is kinds funny , because you can theoretically get it in ILV too

[terse tangle]

After the game lauch all the revdis will be subject to a 12 month vesting period like they are now, right? Or is this period going to desapear anytime? Just to be sure when will we be able to withdrawl revdis rewards

[mint cave]

revenue distribution is not locked

[terse tangle]

Ok thanks! Good to know, so it would start after land sale in theory right?

[mint cave]

yes, and after that any time any revenue is generated. e.g., subsequent land sales, in-game rev, merch sales, etc

[queen horizon]

I will instantl restak for even more RevDis 😄

[terse tangle]

I will do the same lol! But it is good to know that in the meantime I will be able to pay some bills if needed 😆

[manic brook]

I locked all of mine into ILV for 52 weeks. While the APY in the pool definitely appeals, I think that ILV will significantly outperform ETH over a 12 month period so it seemed to me the better option based on that assumption. If the trailer drops and ILV significantly increases, and then land sales also brings attention (and an understanding of revdis) then I want all my gains in ILV...

[terse tangle]

I'm bullish but still early to draft dome numbers. Even Kieran estimations blows my mind. As some people say floor top objective should be 4 digits eoy. Constant fight between my bullish sentiment and the too good to be true feeling

[clever swan]

what were kieran's estimations and do you have a link?

[terse tangle]

#💬〕general message

Anyway, I'm not very confident that every player will pay the entire loop each day, but it is something really awesome

[clever swan]

what ballpark revdis per token can it be at the scale he is talking about?

[terse tangle]

Dunno exactly but you can divide the revdis btw the staked ILV, less than 10M

[clever swan]

yeah i don't think I'm gonna do that but thanks for the general idea

[dapper glade]

Staking rewards question. When I added more slp, I had to claim existing ILV rewards. When I did this I had to spend extra eth so gave up and choose to claim sILV, which just charged me current eth fees. What im wondering, is every time i claim ILV i have to match the eth (e.g slp tok) as read some where rewards return to same pool while locked. Feel like was forced to choose sILV My fear is every time i want to claim 1 ILV ($500) i have to match it with $500 eth for rewards i have earned. Understand 12 month vesting only starts after ILV tokens Claimed. Hope i have this wrong, any info will be helpfull

[steady trellis]

For me it would mean 60k revdiv a month if we reach this level .... I take it all day for sure but it seems ambtious to reach that in a year

70M players for pokemon

[wild dove]

Hi guys, which you think is a good minimum initial investment for the staking SLP? Thank you

[hushed karma]

hey! do you mind sharing with me this google sheet?

[cunning perch]

As long as your stake justifies paying gas, it could be good. But that's your decision really. Make sure u understand IL before entering SLP

[hushed karma]

Also, if I have stake ILV and lock it for 1 year, I know that I am receiving sILV with a multiplier of 2x. Do I still get the ILV after 12 months, or are they burnt?

[steady trellis]

I posted the link to the google doc a bit earlier asking for checking on my numbers. So be careful, need to be checked and double checked. https://docs.google.com/spreadsheets/d/1eupQ4baU_GGR3WAk5fDrQI29O4jJcc_bd9ueaiPk-Gg/edit#gid=1162826494

[cosmic cape]

Hi all, I want to ask about the fee when staking ILV in ILV poll

[hushed karma]

what is monthly res div?

[cosmic cape]

I want to stake 0.326 = $162, but the fee is $114.49, wth?

[hushed karma]

welcome to eth network

[steady trellis]

there is monthly and yearly in the doc, but 60k yes is a simulation with 1M user for 2 loop a day with my expected ILV in 1 year time

[cosmic cape]

Is it normal to have fee that high?

[steady trellis]

You need to target 2-3k USD to feel less the 100$ fee

[hushed karma]

I see. This is revenue that's generated from transaction fees once the game is live right

In my own calculations, I only include ILV rewards generated by the pool. So I am unfamiliar where the rev dis is coming from

[steady trellis]

There are mulitple income source for the stakers. This is only the simulation about traveling+curing+selling a illivials. If you include land sales, NFT, skins, rental of illuvials (I don't know if it's part of the game), and yesterday i was talking about marketing product that could be also part of the revdis (like plush etc) then numbers can go higher

[hushed karma]

Got it!

From your calculations, how often do you claim your ilv rewards and restake them? What is your capital in USD for the stake pool? Looks like it's about $6k if I'm not wrong

[steady trellis]

I staked 9ilv in the ilv pool, then i added 8 slp. So total invested is around 30000SGD so 21-22000USD. I was claiming every 2.5ILV so around 3 days. But when i look at the numbers i may wait longer to limit the fees.

[fleet isle]

so if you stake, it gets automatically locked for 12 months?

[hushed karma]

Very cool! Big whale I see haha. Youre from Singapore? I'm from malaysia

[steady trellis]

you can choose the lenght of lock, but the longer you lock, the higher the %

[fleet isle]

okay thanks

[hushed karma]

Seems like you're very bullish on illuvium. Would you be kind enough to share your thesis? Unless 22k is 1% of your portfolio 😂😂

[cunning perch]

Guys for RevDis and Price please use #💰〕token

[steady trellis]

I wish, but it's nothing compare to a lot of people, especially the people entering at a much lower cost that what i paid (380$ average). (And yes French, living in SG for 7 years now). Thesis is what the team have built, the numbers you can see, when you look it is really well thought + the team is active, helpful, skilled and open. Only need now, is that the team deliver a good game, that's all that is needed. The stacking (to stay in the theme of this chat) is also super powerful to maybe change our lives.

[hushed karma]

nice to meet you. Are you a blockchain venture capitalist lol. Am asking because I know a french guy who lives in SG and is running a blockchain VC...

[granite halo]

I just realized something. Is there a reason to accumulate ILV to pump into the SLP pool? I mean here is my logic:

In the SLP pool you are getting your return based on total $$$ amount right, of ILV and ETH combined.

So if that is the case let's say my goal is 8000 USD worth of SLP.

If I were to do it now I would need 8 ILV and 4k worth of eth.

But if I wait until ILV is worth 1000 USD I would only need 4 ILV, and still hit the 8k mark...

If the rewards were based on the amount of ILV you put in, it would be a different story.

[sinful pond]

at 600% APY how long do you want to wait for ILV's price to reach some arbitrary target?

[steady trellis]

What do you mean by accumulating ILV to pump into SLP ? Because stacking wise you'll have 8k in both case and the same stacking rewards (but not the same revdis rewards)

[glossy dawn]

stkaing vs LP, which one normally give out more rewards over time\

[neon isle]

LP in terms of yield, ILV on revdis

[glossy dawn]

whats revdis?

[neon isle]

revenue distribution

[glossy dawn]

the token buy right??

[still kindle]

Revenue Distribution is the way in which all game fees earned are distributed back to ILV stakeholders

Similar to a dividend paid to company stockholders

Just a heads up re Gas - its still horrible but Im currently seeing 45-50 which is the best it has been for days

[obtuse tulip]

Guys, I can only buy upto 2ILVs. Where do you suggest I put it? ILV or SLP? I'm planning to lock it up for 12 months

Btw, I haven't made the order yet. Gas priced are way too high today and I'm waiting for a confirmation from BTC if it will go bearish or nah so I could buy cheap ETH

[silent spire]

Wait for gas to go low ~20ish. Waiting 1/2 days won't make much difference.

[rich junco]

hey guys, i added more ILV to my SLP stake yesterday, and my previous rewards that were in there, aren't showing anymore. it's like it reset my rewards amount. anyone know what happened?

[silent spire]

If you are going for long term, I would suggest you to go with SLP, only because it is giving ~640% APY return for fixed. If everything is normal, you would basically get 2ILV in rewards in less than 2 months. But there are many factors to consider, research more.

[silent spire]

I suppose you have to claim before you can stake more. Can you see your previous ILV under "Your ILV balance" in Staking Dashboard?

[rich junco]

under rewards, it only shows my most recent deposit. but under vesting it shows both, it just doesn't show rewards for both

[brisk surge]

How do I actually stake I have a MetaMask wallet so do all I need is buy the amount of ETH that I want to put into ILV go to the illuvium staking and enter that in and it’s done or do I need to go on sushi swap?!?!?!?

[obtuse tulip]

Got it! I guess I need to understand more about how liquidity pool works. I've learned about impermanent loss but I can't fully absorb the concept yet. Can you recommend a good source to learn more about this stuff? I would greatly appreciate it

[mint cave]

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

!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

[glass pilot]

Hi just wondering the 1 yr lock of ILV reward is permanent or temporary(Eg. no more restrictions after the game release)?

[silent spire]

https://www.youtube.com/watch?v=8XJ1MSTEuU0

[obtuse tulip]

Thanks, partner!

[keen crest]

If you stake for game rev divs (land sale, general game rev), do you then need to stake again for yield farming, or is it automatic…

[silent spire]

Is there any balance under "sILV" in dashboard?

[brisk surge]

Does staking really goes all the way into 2023-2024?

Does not matter really as there is a huge supply

[mint cave]

yep

[rich junco]

oh. yeah there is actually

ok i see what happened. it did make me choose how i wanted my rewards, i just thought that would be reserved for the amount i was staking at the time, not my previous yield

[silent spire]

Alright, I did the same mistake the first time 😄

[rich junco]

alright cool. i'm not worried anymore. thanks for your help

[idle ibex]

hey guys, the % for the LP pool, is that a static % or does it change? if so what %'s have you seen it go to?

currently i see it's up to 636%

sorry if this has been asked 1000 times already!

[mint cave]

it is variable

[idle ibex]

whats the predicted range?

200-600% something like this?

[late wagon]

hey. im trying to stake. got my ILV token. clicked on stake. need to approve wallet. im stuck on this:
"Before you can continue, you'll first need to approve your wallet to stake your tokens.

Click the button below and then confirm in your wallet when prompted."

and it just spins on APPROVE ....
i confirmed on metamask and stuff but this just doesnt load 😦

any ideas ?

[mint cave]

if the transaction isnt pending on etherscan, reconnect your wallet

[late wagon]

i dont get it. i tried reconnecting and everything i can think off... but same problem over and over

[mint cave]

no transaction is showing up on etherscan either?

[late wagon]

no as i see. never used it but i cant see it pending

no it does not 😦

[mint cave]

@tropic heath the yield is the yield farming(staking) program

staking rewards can be claimed as more ILV, or as sILV

that's where the sILV comes from

[tropic heath]

can u explain in a scenario

[mint cave]

!staking

[woven ibex]

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

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

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

[tropic heath]

let me pm you. trust me i have read everything.

[gloomy thistle]

What happens to the ILV that's supposedly going to be unlock from staking if people choose to claim sILV instead?

[mint cave]

it never gets minted

[gloomy thistle]

That means that the max supply gets reduced?

[mint cave]

exactly

[pure eagle]

Which is awesome, because less ILV parts pleasure on the price to go 👆

[gloomy thistle]

I will now personally strangle people who will claim ILV from staking then

[steep ginkgo]

5 days that I m waiting to stack f*** fees 😂😂

[gloomy thistle]

Does staking closes/stops the moment it calculates that i could potentially mint 2m ILVs from all the staked ILVs?

Nevermind there are only 600k plus coins minted, i thought there were 7m.

Okay, a bit confused. Does the circulating supply include staked ILVs that are locked?

[mint cave]

no it does not

[gloomy thistle]

I see, so if the total supply is 7m and the circulating supply is only 600k, then 6.4m ilvs are staked and locked right?

[mint cave]

ah sorry i misread, the circulating supply DOES include ILV that was staked and locked

it does NOT include the claimed rewards

no new coins entire the circulating supply until the end of march 2022

[brisk surge]

I’ve got just over 2 ILV and I’m looking to stake. What do you guys think would be the best pool for me? (Going to lock for a year). If ILV/ETH pool I’d have to exchange half my ILV ofc.

[pliant whale]

I would stake ILV/ETH SLP as rewards are between 300 and 600%(locked 1 year), compared to 40 to 80% for native ILV - which can be seen/played with with the slider bar https://staking.illuvium.io/staking/core But gas fees may eat 10% (of 2 ILV) per transaction if you swap and then stake...

[mental saddle]

HI fellas...a newbie question. I have staked some LP and locked for 1 year...is it possible to stake more from the same wallet?

[brisk surge]

Thanks, yeah gas fees seem to be the biggest issue. I’ll have a look Saturday morning and maybe swap half my ILV into ETH and stake then

[mint cave]

yes, you can stake as much as you'd like as many times as you'd like

[mental saddle]

Thanks! 🙂

[wind walrus]

Yes. You can stake more. It will automatically claim the rewards you have earned. Don't manually claim before adding more.

[mental saddle]

Thanks again 🙂

[open steeple]

From my understanding the ILV rewards can coumpound as the Silv cannot

Investment wise you pbbly should claim Ilv

[wind walrus]

Correct. I think he just wants everyone to claim silv to lower the total supply.

[gloomy thistle]

Well i plan to catch me some anteater and squid so silv sounds nicer to me

[wind walrus]

I hope a million Silv or more gets rewarded

[gloomy thistle]

That's what i was implying with my strangle statement

[open steeple]

I will try to do a little bit of both, so i can have some silv for the landsale

[wind walrus]

Yep.

[gloomy thistle]

There are currently 6k minted silv, 994k more.

[clever swan]

Only 6k have been claimed?

Most you guys just staking or also gonna play?

[gloomy thistle]

Yes because it cant be used for anything as of today. That would change when land sale and the game comes.

[clever swan]

Is only way to get silv rn is to claim it? Then I would think more are doing it for the land sale

[open steeple]

I think people are just claiming ilv, and when it is time for the landsale they will claim silv

[wind walrus]

I'm sure the day before land sale that number will explode.

[gloomy thistle]

I haven't claimed any rewards yet, but there's a gas fee associated with claiming it right?

[wind walrus]

Yep, did you use the spreadsheet to break down your claiming schedule

[gloomy thistle]

Which spreadsheet?

[wind walrus]

It's in the pinned section of this channel.

[gloomy thistle]

Just saw it. Haven't used it yet.

[keen crest]

When are we going to be able to stake for the land sale?

[manic spindle]

Stake for the land sale?

[wind walrus]

Not sure what you mean

[ripe steppe]

Hiya Guys,
Just stuck a bunch into the Sushi LP yesterday, locked down for a year 🚀 and today I’ve noticed on the Sushi LP Rewards I can claim ILV so I was wondering…

… as the APY is over 600% then that means in rewards I will have the same amount of value that I’ve put in, ill have that back in around 2 months in rewards and I can withdraw those rewards right? My question is, in 2 months can I withdraw all that ILV, sell half of it for ETH, and then stick that all back in for another year in the Liquidity Pool? (And potentially do that all over again every 2 months doubling the amount thats staked and exponentially go ballistic) is this possible? Cos that would be epic lol

(Also is it possible to claim the sILV from Sushi LP when the game comes out so I can use it in game or will I have to Invest in ILV separately for use in game until the unlock in a year???)

[manic spindle]

!claim No you cannot withdraw ILV rewards immediately. They vest 12 months 🙂

[woven ibex]

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

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

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

[keen verge]

when you claim ILV, it is automatically vested (meaning reinvested into staking pool which generates you more coins) it will be vested for 1 year, only sILV can be claimed immediately

[silk meteor]

I bit the bullet and finally claimed rewards at 50-60 gwei.. waited 3 days 😂 since EIP 1559, idk exactly tech wise what it really updated but seems like high gas prices will be here to stay

[ripe steppe]

Awesome! So If I didnt claim anything from my Sushi LP and then a few days before game release claimed the whole lot in sILV, I’d have a sweet sweet stack to play the game with

[wind walrus]

Yep

[ripe steppe]

2 more questions: is 1ILV equivalent to 1sILV value wise, and also how many sILV approx is a good bag to play the game with, I actually have no clue what the in game prices will be like

[manic spindle]

sILV is 1:1 in value to ILV within the DAO, yes.

[manic trail]

Hello, I wan't to add to my locked LP staking, it says I have to claim my rewards first.
Is it the same smart contract to claim rewards + add staking ? If no, how can I ensure no rewards will be sent before I add to my staking

[cunning perch]

you can read this to have an idea. Nothing is fixed yet #💬〕general message

[manic spindle]

How much you could use in terms of sILV cannot be said. Depends on the final prices, the value of ILV at that time and how much you play/pay 🙂

[ripe steppe]

Also If I had no ETH and no ILV, could I play with only sILV and nothing else

[keen crest]

Lock our tokens for game rev

[manic spindle]

You could, but you only get sILV by staking ILV 🙂

[manic trail]

Please someone help me Im lost 😦

[ashen tiger]

Hey, I read on here previously that it isn't worth it to stake into SLP with anything less than 10 ILV. Why is this exactly? Are gas fees that different between the two pools?

[manic spindle]

When trying to stake a new deposit you are asked to claim your rewards within the same transaction after deciding on how much you want to stake and whether or not you want to lock it. You simply need to choose either ILV or sILV then 🙂

[manic trail]

ho so I will only pay fee once ? (Redeem + New staking) If yes, you made my day 🙂

[manic spindle]

Claiming LP pool rewards always requires to also claim ILV pool rewards but the claim of the pool you stake more into should be included in the staking transaction itself, yeah.

I always stake more when claiming makes sense too 🙂

[manic trail]

Thank you so much for the clarification, much appreciated 🙂

[ripe steppe]

Big Help! Thanks Bro! (Also, in game if I only had sILV and no ETH or anything else, I could still but anything and everything using sILV right?)

Buy*

[manic spindle]

No, sILV does not work on the IlluviDEX or for leviathan Wagers.

Only ETH there.

[ripe steppe]

So i could theoretically play the whole game with only sILV, as long as I dont wager or buy on IlluviDEX, and when I’ve capture a bunch of creatures and stuff I can sell them for ETH on IlluviDEX, and I could use that ETH for wagers and to buy other stuff on IlluviDEX. Is anything Game critical sold on IlluviDEX without which you cant play?

[manic spindle]

The only things sold on the IlluviDEX are things that were first gathered/captured by other players in the game, so there is nothing exclusive there. And yes, you can sell your own stuff for ETH and then use that ETH to buy/wager of course 🙂

[ripe steppe]

Guy! I must say! This discord has been enlightening and very informative, much appreciation, keep doing what ur doing guys, epic community! Are there any ways in which I can assist the community through this rollercoaster? Im here to participate

[wind walrus]

Learn as much as you can and pay it forward. Spread the word about Illuvium

[clever swan]

If I have two slp locked at 12 weeks and 1 year, when I claim my ilvs is it 2 transactions?

[ripe steppe]

When u claim, you claim all at once (on SLP)

When u claim on ILV stake, you claim all ILV stake rewards, but not SLP stake (when u claim SLP stake rewards you simultaneously claim all rewards available to claim all in 1 transaction which is the best more efficient way to go about it)

[ruby wing]

Yes

[gloomy gazelle]

It’s 2 transactions because of how claiming SLP rewards works. Not because you have two different staking batches. First transaction is claiming from ILV only pool second transaction claims from SLP pool.

Depends. But it should be worth more than the gas you pay. Maybe as much as 100x as much.

[clever swan]

so both transactions are doing it for both slp stakes. cool.

[ashen tiger]

Ok, thanks

[gloomy gazelle]

I replied ☝️

[ashen tiger]

This is what I was thinking. I am but a lowly Plankton but was considering staking 5 or so ILV into the SLP. I know someone had suggested less than 10 ILV wasn't worth it but didn't find out their reasoning.

[clever swan]

Also does claiming in slp stake produce some dust/residual ilv rewards because I am getting very small fractional amounts of ilv separate from the slp stake ilv claims corresponding with the reward number in my dashboard?

[gloomy gazelle]

I think it would be. You just need to wait longer

[ashen tiger]

Yeah, I wouldn't claim the rewards very often.

[gloomy gazelle]

It’ll have a higher initial cost but that SLP apy (when locked for 12 months) should make up for it

[gloomy gazelle]

So my lowest estimation is that gas costs for SLP are 3-4x higher than ILV only pool.

Nope.

[clever swan]

yeah so these dust amts appear as rewards every time I claim my slp. I haven't claimed any ilv stakes yet. My first dust amt as reward appeared when I staked my slp actually if you check the days.

[ashen tiger]

Ah, excellent. Thank you so much for this

[gloomy gazelle]

This is accurate. It’s because when you claim your SLP rewards then those get added to the ILV pool. Those ILV are also earning rewards. And you claim those rewards. They just aren’t significant yet.

[clever swan]

so it's doing it automatically. because now that the ilv rewards that i've claimed have added up a little the button to claim those in my rewards section is live now which wasn't before.

[gloomy gazelle]

When SLP rewards are claimed you are forced to claim ILV pool first. That’s what the first of the two transactions is doing.

#🥩〕staking message

[gloomy gazelle]

Yeah don’t click that one though. Clicking the SLP one makes you do the above transaction as well

[clever swan]

Ah, I see now

[gloomy gazelle]

I think rahlord’s video covered it pretty well

[clever swan]

Cool man. I was so confused until now. Yeah I'm doing this between finishing two big projects and raising 2 toddlers during covid haha. but you cleard it all up for me 👍 for now at least 🤣

[swift spindle]

If I were to stake on two different days, can I claim the rewards from both of them at the same time or does it sort of grow exponentially for each time you stake, you'd have to claim the rewards from that transaction?

[gloomy gazelle]

https://tenor.com/view/yeah-strong-gif-13426243

[gloomy gazelle]

All earned rewards are accrued together and claimed together.

[neon isle]

If i were to stake just around 2k usd on SLP isnt it better to do it in just 1 transaction than on 3 different dates cuz of gas fees?

[swift spindle]

Awesome, thanks @gloomy gazelle !

[gloomy gazelle]

https://tenor.com/view/mypart-helping-soldier-woman-reaction-gif-9458519

[gloomy gazelle]

Correct

[neon isle]

like how much do you think i'll save if i just do it in 1 period. Assuming the gas is at its lowest

[gloomy gazelle]

But the claims won’t be affected by separate deposits. Only deposit and withdrawal of the initial deposits.

[next ruin]

If you would be doing the whole process (swap Eth to SLP, provide liquidity, stake SLP and claim rewards) multiple times, that is easily a couple hundred extra in gas.

[wanton nova]

And on the second and third deposit rewards have to be claimed

[brisk surge]

Hi guys, which are the risks associated with the flexible core pool staking of ILV?

[midnight lily]

Unless I'm mistaken, the accrued rewards from the 0.25% transaction fee from sushiswap are not accrued together in the same pool?

[versed bobcat]

Fellas, I'm new here, and you can tell by my avatar that this isn't my first tango with PtE lol. Don't shank me.

Very excited to have stumbled on this project, and the staking and flash staking rewards are juicy af. Question: I see all this talk about SLP pool, but for the life of my I can't seem to find anything on that. All I see are ILV, Sushi LP, and XYZ pools. Where are y'all staking SLP!?

LMAO. Nevermind, sushi liquidity provider, not smooth love potion.

I gotta do some Axie Infinity cleansing

[abstract crown]

SLP = SUshi LP 🙂

[brisk surge]

if I put my ILV on the fixed core pool, is the APY that I currently see fixed for the period i locked the funds or Is it flexible'

[gloomy gazelle]

Sushi fee rewards are automatically distributed to the liquidity pool. As transactions are made the fees are added to the total pool value. and this added to each SLP token value. But this not something done by the illuvium staking protocol. It’s done in the actual liquidity pool.

[uneven stone]

Who here has staked on the SLP and claimed rewards? Can i dm you some questions pls

[gloomy gazelle]

It is not fixed. The APY is variable

[gloomy gazelle]

Hit me up

[gloomy thistle]

This is getting ridiculous

[gloomy gazelle]

Yeah gas will likely be better tomorrow

!gas

[woven ibex]

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

[brisk surge]

I would like to know if the weight is significant only to determine the APY or if for other things

[midnight lily]

This isn't even bad lol I posted a screenshot yesterday morning of gas fees being over $1k around this time 24 hours ago

[gloomy thistle]

It isn't bad relative to 1kusd but is bad relative to everything else lol.

[midnight lily]

Ya the gas fees really create a massive barrier for smaller investors, it's sad because the rich just get richer while the poor stay poor

[gloomy gazelle]

Locking does increase APY. It also increases the weight for revenue distribution

[brisk surge]

what is the weight for revenue distribution, does it affect the speed they give you the rewards after you claimed

[spiral summit]

When claiming rewards, is the gas fee ilv or eth?

[gloomy thistle]

I guess that's the reason why solana is blooming but this is off topic relative to staking.

[abstract crown]

Unfortunately that's ETH's model going forward, but hopefully ETH 2.0 will at least reduce fees

[midnight crow]

Eth

[spiral summit]

😐

[woven ibex]

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

[midnight crow]

I was just going to ask that 🙂

[honest drift]

What is the main difference between the 2 pools when staking

[midnight crow]

So, it looks like Sat/Sun are best for ethereum network interactions

[midnight crow]

In the Core pool you stake only ILV in the other one you stake SLP which you get by putting in ETH and ILV in equal $ proportions. Also, there is a risk of loss with the second pool, but there are higher APYs to take that into account.

[gloomy gazelle]

!staking

[woven ibex]

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

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

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

[gloomy gazelle]

!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

[neon isle]

when you're locked in for 12 months does that mean also double the rev dis?

[gloomy gazelle]

Correct

[ruby wing]

Heck ya

[wind walrus]

Yep. And when you claim rewards they get locked for 12 months at 2x weight as well.

[manic spindle]

That is not the case for RevDis. RevDis is unlocked 🙂

[wind walrus]

Correct. Revdis is unlocked but claimed rewards from staking are locked for 12 months

Maybe I misunderstood his question

[manic spindle]

Claimed rewards from "Yield Farming" are locked for 12 months not from "Staking". RevDis is a reward given for staking as well for example. Just clarifying that to avoid confusion here 🙂

[wind walrus]

Gotcha. I see clearly now. Thanks

[clever swan]

hopefully revdis will be one button that processes all the separate stakes and we'll just pay one gas fee, pls

[frosty totem]

Excuse me bartender, ill take the same as the gentleman above me ordered, thank you.

[ruby wing]

😦

tuff times, they should chill late this evening or closer to Sunday

[clear cape]

flat cost regardless of transaction amount

[stuck rune]

yeah the gas is killing me... need tis on a L2

[ruby wing]

!imx

[woven ibex]

Illuvium uses Immutable X as a layer 2 solution. This means that you won’t be charged network gas fees within Illuvium and instead only need to transfer funds between the Ethereum Mainnet and Immutable X. This keeps the player's cost of doing business low, maximizing potential gain. For more information about Immutable X check out https://www.immutable.com/

[ruby wing]

at least the game will be :))

[cyan rampart]

TBH the entirety of ETH is waiting for shard chains rn, literally can't come soon enough

[stuck rune]

really hope some biz guys will make a decision to move to optimism or something. at least it will be better for the lps

[hot lynx]

Hi guys happy Friday 😊 . A question with the LP and SP pools . What impact is the weight % on my rewards in these pools

[manic spindle]

Token weight determines how much your individual tokens count for during rewards calculation. Without a locking period you have a token weight of 1.0, so every staked ILV/LP token counts as 1. If you lock for 52 weeks and get a 2.0 token weight, then effectively you double your rewards because every staked ILV/LP token counts as 2 🙂

[wanton nova]

Stormi do you know if tvl is based on token weight? As in does 1 ilv staked with a weight of 2 count as 1030usd tvl?

[manic spindle]

I don't think so, but not 100% sure.

[manic spindle]

That is the pool weight. Pool weight determines how many rewards are allocated per pool. There is a fixed amount of rewards being paid out (drops by 3% every two weeks). 80% go into the LP pool, 20% into the ILV pool. During flash pools both core pools lose a tiny bit of pool weight because 2% of the rewards are allocated to the flash pool 🙂

!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

[hot lynx]

This is the detail I couldn't !read in the first reply !thank you

[hot lynx]

Doesn't add up to 💯

[ruby wing]

careful posting your wallet :))

86,000 people in this discord.

[hot lynx]

It's has an address with .... Gfdgh.... Not complete .

[ruby wing]

ppl can link ur discord to ur wallet

still not good to share IMO

just giving u privacy advice 🙂

[hot lynx]

If they spend the time to work out the hex code missing in my wallet ... Good luck to a great time waste 🤣👍🏻 thx anyway

[quaint ivy]

Hey everyone, I only joined this server yesterday and I already learned tons of stuff. Thank you!
One thing I still need to understand, does the 12 months lock period start when staking or when claiming the ILV?

[ruby wing]

12 months for ur staked amount starts right away (if u lock 52 weeks) for ur rewards the vesting period starts when u claim

[manic spindle]

You are forgetting the 2% of the XYZ flash pool I mentioned 🙂

[hot lynx]

Cool mate thank you . Now that's the compete picture I was missing awesome 🚀. 👍🏻

Love this community ❣️ and excited to be a long term player with $ILV 🚀🌑

[bronze heart]

is the RevDis distributed via ILV or ETH

[cunning perch]

ILV

[bronze heart]

sweet

gas fees right now are LOL

[ruby wing]

As of now, they will be separate claims. (To my knowledge). One good thing is that leaving them staked, they hold their 2X weight 🙂 (this is HUGE for rev dis)

[wind walrus]

Yep. Never pulling out.

[ruby wing]

lol

[cunning perch]

haha I was like whaaaaaat? 😄

[ruby wing]

I had to do it

[wind walrus]

Lol. That was awesome

[ruby wing]

not exactly sure

[cunning perch]

as long as you claim, your rewards will have 2X weight. after the vesting is done, if you keep them staked, they will still keep their weight if that's what you mean.

[quaint ivy]

So for example if you stake over a 12 months period then you claim them, they’ll need to vest for another 12 months. Is that correct?

[clear cape]

i seen ur vids on youtube btw lmao i remember going like crypto amore ? i swear i seen that guy on the discord

u should make longer vids

[cunning perch]

the moment you claim....then claimed rewards will start the one year vesting

[ruby wing]

your rewards yes

[cunning perch]

yep. exactly 3 years (YF ends) REV staking won't end. You can always Stake your Rev if you want and keep them there

[abstract crown]

Oh so YF actually ends after 3 years? Is there an exact date

[cunning perch]

it started July 1st, 2021....add 3 years lol 😄

[abstract crown]

lol, sorry I didn't know that was the date it started. I just got into this a few days ago ;P

[wicked herald]

So I got on to check this morning and its $1200 just to stake.. lmao I have bad luck

[cunning perch]

no worries friend 🙂

[ruby wing]

just wait 🙂

[wicked herald]

I know 🙂 haha, just insane that I waited and checked at the highest peak ever

[ruby wing]

at the end of the day. High gas suckkks but more ETH is burned :))

[wicked herald]

I only care about gas a couple times a year. At least this game won't make us pay gas fees after locking in our ETH

[clear cape]

lol slp pool might help me because i never bought eth due to chasing for better gains, it forces me to hold onto some diversity into a solid blue chip 🤣

[cunning perch]

the moment you stake your REv you will have the option to lock it too. It's your choice really. The farm will continue for 3 years as it is and you can claim or stake new ILV in it. the ones looking for a passive income and the share of Rev, will keep them in and don't sell the original stake.

[cunning perch]

yeah. your IL will leave you with more ETH in the end 😄

[clear cape]

then i have to hope eth moons next year and ill be a lucky mofo

[gloomy gazelle]

Of course the ETH won’t be locked in but rather moved onto layer 2. It’ll be able to get back to main net whenever. But yeah it’s gonna be nice to save on gas.

[trail mountain]

Ooo just realized ILV stuff shows in Zapper.fi now!! 😄

[queen horizon]

yeah super cool

[midnight lily]

I'm thinking of buying a decent amount of ILV within the next week, I already have 15% of what I'm thinking of buying staked within the SLP. Can i get people's thoughts/opinions with reasoning on what I should do if I decide to go ahead. I'm leaning more towards staking flexible ILV to staking locked in ILV for 2-4 months at a time. Any thoughts?

[queen horizon]

my portfolio jumped up quite a bit 😄

[wanton nova]

This totally depends on you and what your goals are. I personally believe in this project and have everything locked for 2 years. I personally don't see why one would stake for 2 - 4 month. Noone can predict token price and crypto market in 2 month in 4 month or in 12 month. So if I 'risk' locking I might as well lock it for 12 month and make use of the highest possible Apy. Nfa

Another positive aspect for me is the fact that I can't use my locked assets. So I don't have to constantly check on them and decide if j trade them or whatever. They are locked and I can relax

[cyan rampart]

There's a bit of value in having your ILV locked until Feb/March, since seed tokens start unlocking at the end of March. This value is mostly just like, peace of mind or whatever - you can sell before more tokens enter the ecosystem if you're uncomfortable with the state of the project.

I'd either stake flex or 12 month, personally. If you've done research and like the project, 12 month is maximum ILV returns. Obviously you lose liquidity by doing so, but you gain the most rewards possible.

At the end of the day, it's a financial decision and no one can really decide that for you, it's up to you!

[hot lynx]

ETH 2.0 fixes all

[woeful brook]

is it worth staking like 100$ worth of ILV

[brisk surge]

I would say stake duration mostly depends on when you are wanting to take profits. I locked in some for a year and I’m planning on holding that amount for several years. The rest I locked for 10 weeks because I’m taking profits out of crypto because I’m preparing to buy a house next year.

[red echo]

Hi!! Y recently bought 1.2 ilv, I have linqued my metamask account and want to put in a 12 month staking but the gas fee is 487$, that is insane. Its any way to reduce that fee? I dont want to stake with that huge fee that is more than an 80% of the ilv i have. Thank you!!

[brisk surge]

Not on the sushi pool, you will spend more than $100 on gas. If it’s for a long term hold you might get some value out of a 1 year stake on the regular contract. Wait for gas fees to drop low though or else you will lose like half your value

[brisk surge]

I staked many times that amount yesterday for less than $200 in gas. Keep an eye on the gas and you should be able to get it stakes way cheaper

[woeful brook]

Yea gas prices are shit right now. I was planning to lock in for a year so would that be worth it once gas is lower? What would return be like. I was planning on keeping it sILV in the end

[red echo]

i was thinking when the immutbale X solution will be implanted the gas fee will desappears¿

[wanton nova]

Gas prices are usually lowest on the weekend. Check gasnow.org. On most weekends you'll find times during which you can do transactions for 15 - 25 gwei

[wanton nova]

AFAIK immutable x will only take away the gas fees on ingame items. The ilv token will remain on layer1 eth network

[clear cape]

Multiple lambos or bust crew.

[cyan rampart]

And you'll still have to transfer funds between the ETH mainnet and IMX, which will be a gas fee (albeit a relatively cheap one, being just a transfer)

[glass carbon]

the staking is not planned to be moved to IMX, so gas will still be a factor on mainnet

[red echo]

okey tyyy fucking eth XD

[wanton nova]

Yes it sucks but it is what it is. Until eth2 it's weekend trading for me 🤷‍♂️

[red echo]

maybe whait till eth 2.0 is a god idea hahah

[brisk surge]

If the money is mostly just for spending in game then you probably shouldn’t stake. With only $100 you probably wouldn’t get enough yield to make it worth claiming sILV by the time the game releases.

[woeful brook]

okay thats mainly what I was wondering

[clear cape]

until u see these gas prices be like this even on the weekend 👀

[wanton nova]

A few weeks ago I made a 'remember making 15 gwei txns on Sundays? Pepperridge farm remembers' meme. Don't have it on mobile though. But yeah many nft projects coming out on weekends :/

[clear cape]

the greater the barrier to entry the better it is for us as stakers on the flipside :))

but yes sucks for ppl waiting to get in. investing is a zero sum game fortunately

[brisk surge]

Uhh investing in tokens that grow in value is NOT a zero sum game. Thats the beauty of it. We can all make money without anyone having to lose it.

[candid tundra]

i wonder if they let whales just come in and grab 1000's of sushi lp tokens

[clear cape]

maybe but for tht to happen they will need a large purchsse of ilv too, in turn increasing apy due to price increase of ilv...its hard to say how much a whale TVL will dilute the APY

[brisk surge]

In theory you could but SLP is risky because of impermanent loss. If a whale invests a lot of SLP they will likely want to liquidate that SLP at some point

[clear cape]

yeah i think whale money will be a lot more hesitant in SLP due to IL. not only that but they dont know themselves how much the apy will be diluted if they were to join the pool (or predict how future apy will be like) potentially fucking themselves over.

maybe they would join temporarily but even then, that is risking IL for non maximised rewards

[signal sluice]

Hi everyone, I am excited to join this community! I am interested in staking in SLP but don't have any ETH or ILV yet in a wallet. What is the best way to buy these currencies and pool my money without losing extra on gas/fees (US baased)? Thanks so much 😆

[midnight lily]

Purchase ETH, transfer to metamask wallet, convert half your ETH in metamask wallet to ILV on sushiswap, add liquidity to the ILV/ETH pairing on sushiswap, go to illuvium website and stake your new SLP tokens

There is no way around losing a few hundred dollars on gas fees by the time you get your money into the SLP, and you can probably assume it will cost a few hundred more by the time you convert everything back later on (unless you do this way down the road with ETH 2.0 which is supposed to have lower gas fees)

[signal sluice]

Thanks so much for the info

[midnight lily]

No sweat

[ripe steppe]

while total pending rewards are sitting unclaimed, are they earning APY or are they just chilling and only after they are claimed, if claimed as ILV then they earn APY for a year lockup

[clear cape]

they dont earn apy until you claim

when claimed they get locked. up for 12 months at a 2.0 token weight

[ripe steppe]

yup thought so, just checking, thanks bro

[late girder]

Someone could help me? I'm a bit lost on this topic. I would like to start staking, but I don't know how to do it or how much to invest.

[midnight lily]

And if they were staked in the SLP, the claimed rewards get the regular ILV staking APY, not the SLP APY

[ripe steppe]

dm me happy to help

[ripe steppe]

indeed, because its no longer providing liquidity but normal staking, sweet

just trying to wrap my head around things and a new question seems to always come up, tryna really grock the nuances so i can answer questions in the community in future and know whats up,

[gusty magnet]

hello guys, i've been staking for a couple of weeks now and I feel rich already, thank you

ok, but that was not the point anyway haha jk! Now, real question is, our farm rewards of the LP are added together with 622% of stake? Meaning when we claim ILV the sushi rewards are with it as well?

[midnight lily]

Absolutely. I have asked plenty of new questions every single day. There is a great community full of answers here to help others. Don't be afraid to ask.

[midnight lily]

I've been trying to figure out how to see what our accumulated rewards are from this as well and can't seem to get a solid answer from anyone. My understanding so far is that these rewards that are based on 0.25% of transaction fees within the liquidity pool are accumulated on sushiswap, and have nothing to do with the SLP or illuvium, but I haven't seen/heard of where to see these accumulated rewards.

[gusty magnet]

that is my question exactly! if they are not claimed together in the staking pool as ILV, then i'm not sure where to follow how much I got in my LP, as once they're staked you can't find your pool anymore

[iron pebble]

bro what the fuck lmao

[elder dawn]

The Sushi LP fees (0.25% per transaction) are just added to the pool, and you own a percentage of that. The easiest way to estimate your share of these rewards is to take your SLP value and multiply by pool utilization and then 0.25%. So, if you own $5000 worth of SLP, pool utilization is currently about 4% daily, times 0.25%, this means you're earning $0.50 per day in transaction fees. These are just added to the pool, making the price of SLP increase slightly. you can see pool utilization data here https://analytics.sushi.com/pairs/0x6a091a3406e0073c3cd6340122143009adac0eda

[midnight lily]

Yes thank you, that clears things up a lot

How does the pool utilization work exactly?

[ripe steppe]

so we've stuck ILV and ETH into Sushi LP, that LP itself appreciates somewhat from those 0.3% transaction fees, and depreciates somewhat from impermanent loss (worth researching impermanent loss, finematics has a good YT video on it) ... ... ... and what ive written so far, thats just all in the liquidity pool, those dynamics ... ... ... we then get the SLP from this pool that is a representation and proof of our providing liquidity, we can use that SLP at any time to claim back our ETH and ILV from the SushiLP, but what we then do (at least me) is we take our SLP and we stick it in Illuvium.io and they pay us 650% APY on the value of the SLP, and they pay that to us in ILV (or sILV if you wanna burn the ILV and exchange it for this synthetic in game currency, which i personally will be) , that 650% APY they are paying us directly from their tokens, this is basically how the tokens are being mined, by staking in this way we are literally mining ILV, there is no other way to mine ILV except later on in game, but there is a total % of all ILV ever that will only ever be mined through staking, hope this explains

[elder dawn]

awesome, glad i could help. i spent some time trying to figure it out as well. i added this to my impermanent loss calculator as well (pinned in this channel - the imperm loss tab) and you can estimate your IL, impact of staking rewards, and it includes your gain from LP fees. I'm writing up the changes in a blog update soon, but the sheet is updated now. You can check it out here if you want to play around with price scenarios. https://docs.google.com/spreadsheets/d/1gj_tPlLzAdeReC0Ne9BcxKN2OJ6xK1nl-9JJ2YW0WWI/edit#gid=259609908

[floral scroll]

Can someone explain to me under what circumstances one would be at considerable risk of impermanent loss if staking in the LP?

My sole experience staking is on cake on pancake swap so very new

[ripe steppe]

if the ratio between ETH and ILV changes HUGELY compared to what it is now, but has to be absolutely massive cos the 650% APY your earning outweighs impermanent loss and makes it basically insignificant unless its insane difference, basically ILV has to completely crash and at that point we have bigger issues lol

[floral scroll]

Ah i see, so any divergence just eats into that absurd APY number. Makes snese

[elder dawn]

it basically is just the total daily transaction volume divided by the size of the pool. if 10 people swap $500 in the pool in a day, the total volume is $5000. $12.50 in fees would be collected and added to the pool. Daily volume right now is around $7 million, so $17500 in fees are added to the pool daily.

[floral scroll]

I may split my staking between the 2 available pools

[elder dawn]

I just spent a few hours updating it today - definitely grab the new version. Glad it was helpful

[midnight lily]

This game already has such an awesome community. Thank you guys for all the insight and knowledge. Truly appreciated.

[ripe steppe]

thanks bro, took me like 2-4 hours of scouring to get to that conclusion, really really think someone should make a basic video explaining this cos I dont actually think the average staker realises or understands that info, I for one was staked but had no clue lol and took me a lot of searching to figure it all, searching info and also scowering discord and also putting pieces together from stuff kieran has said in interviews, I think this should all be collated and dymistified so everyone has all the info, at least an FAQ on Illuvium.io

[clear cape]

what if ilv goes to 5k, eth remains around 3500?

[noble coral]

if i claim ILV while having ILV will it just add to the total amount staked???

[midnight lily]

Noob question here, but I just see some conflicting things. So when you remove your liquidity from the SLP, do you get back 100% of your initial investment in the pool guaranteed? Or is there any way to actually lose the principal amount you invested? I'm aware of impermanent loss so you don't need to explain that risk.

[ruby wing]

Imperm loss can reduce the amount you withdraw depending on when u go into the pool and what asset diverges.

[midnight lily]

So given a hypothetical situation where I invested, let's say 10k, what would have to take place for me to only get 5k back when removing liquidity?

[elder dawn]

i added a new impermanent loss calculator to my google sheet - check out the imperm loss tab. it's illuvium specific, and includes estimated SLP rewards, and will tell you how many ILV and ETH you get back out when you sell based on ETH and ILV prices when you start and exit. https://docs.google.com/spreadsheets/d/1gj_tPlLzAdeReC0Ne9BcxKN2OJ6xK1nl-9JJ2YW0WWI/edit#gid=309195230

[midnight lily]

Thank you for making this

[stone sierra]

I am a little confused after reading some of the pinned messages. If you choose to claim your rewards in ILV, where does that go? Does it go to your account and if you need to sell the ILV could you transfer that to your metamask wallet? Thank you

[full frost]

What are the most likely things that could go bad wrong?

[elder dawn]

When you claim rewards, your ILV is staked on the Illuvium ILV pool for 52 weeks. After 52 weeks, you can withdraw it to your metamask wallet.

[elder dawn]

Illuvium staking specific or in life? 😋 Staking wise - there is always smart contract security, impermanent loss for the SLP. Of course, there also still isn't a playable game yet, so the overall project is speculative, so ILV price is a huge risk factor, but the community here (myself included) is pretty bullish.

[cyan rampart]

Impermanent loss is a potentially big deal with the SLP, I'd check the pins for more info on IL and get familiar with it.

Security is a thing - Can always read through the smartcontract audits if you're concerned, but we should be fine.

Also just basic wallet security is important - use a secure wallet, don't share your info etc etc. All the normal crypto stuff.

[full frost]

Thanks for such a detailed spreadsheet @elder dawn . I'm just trying to grasp which parameters to tweak to visualize the most likely risks. But I don't have a good feel what those risks are, number wise. I have been putting off staking because of high gas and just fear of hitting [confirm stake]

[elder dawn]

i definitely hear you, and that's smart on your part, particularly if you're going to choose a longer lock up period for more rewards. Realistically, the biggest impact on all of this is ILV price, which is also the biggest unknown. The risks @cyan rampart added are right on, but this is crypto, so token price is huge.

[elder dawn]

as for gas - my experience is low points are Friday nights and early Sunday mornings (US time). About 8 hours from now I expect it to be way lower. I definitely wouldn't do any transactions right now.

[clear cape]

Higher ILV price = better for SLP stakers right?

[elder dawn]

Better for all of us here. Since staking rewards are paid in ILV, the higher the price, the higher the APY (everything else being equal).

[dusk fog]

*Local regulations of crypto in your country
*Gas prices keep going up to the extent that we will struggle to bring in new players (have to pay fee for exchanging ETH into IMX in order to play above T0)
*Security
*Product flop?

[full frost]

Am I correct that according to the spreadsheet, using the default values, an actual value loss due to IL compared to hodling would only start to be seen if, for example, Eth were to go to $6000 and ILV were to tank to $100?

[stone sierra]

So all of your claimed ILV rewards gets re-staked for another 52 weeks. I understand that your original ILV staked would be locked for the full period you agreed to, but i thought the rewards would be able to be sold if they were claimed in ILV. Thanks

[ruby wing]

if u withdraw from the pool yes

[elder dawn]

those are just examples - create your own copy and you can put whatever values you want to see how it impacts return. a better name for impermanent loss is divergence loss, as it's really the more the prices move away from your initial ratio, the greater the impact.

[ripe steppe]

Firstly no way ETH stays where it is, 2-4x by end of year, its also going up, i do see your point in that ILV will likely go up faster, so theoretically if ETH stays the same and ILV does a 10x, then there will be some impermanent loss, id have to do some maths to figure it out precisely (and I plan on doing so and making a YT vid on it in the coming week or so) but I think the 650% still far outweighs that, not to mention you’ll likely be claiming the rewards in sILV just before the game release and using them in game to catch illuviums and explore etc. and hodling those creatures and leveling them up you will also be able to sell them for ETH at a much higher price than your sILV investment so you have gains there as well. …. …. …. As far as i can tell without doing the maths yet, everything is profitable and sweet as long as ILV doesnt perminently crash (if it temporarily crashes then goes back up its not a problem unless you sell on the crash and realise your loss), if ILV sky rockets ridiculously then even if you lose your entire starting investment all of the ILV you earn through rewards on the 650% will sky rocket not only past your initial investment but just make you shit loads of a fat bag compared to whatever u started with, Side note: over the next 2years ILV does seem like its going to go up, 10x compared to USD is likely id say or more, but compared to ETH 10x is the best case, and if it goes that way your rewards will be so fat you couldnt care less about the initial SLP investment (even though i think that too wont have deteriorated that bad) (plus less than 20% of the total ILV has been mined yet so as more and more supply is being minted/mined keeps the price lower, even though i expect due to insane demand it will still go up in price but compared to ETH should still be a calm situation)

[ripe steppe]

(also this supply thing i just said is a great reason to invest now, earn this insane APY, make a shit ton with at least part of those rewards claimed in sILV using them in game to capture and level up illuviums, claiming some in ILV and holding because every ILV turned into sILV is actually burned, every 5% IlluviDEX purchase in game in ETH and in ETH 10% of wagers made in game, all that ETH (100% of it) is taken and used to buy ILV tokens which are then all given to us as staking rewards, supply is overtime decreasing, demand only going up due to the insane utility of the token and were here before the start with this insane oppertunity, idk if you can tell… but im BULLISH 🚀)

[ripe steppe]

Read my last 2 posts 👆🏻👆🏻

Personally regret the 2 ILV i put in the normal 80% pool, wish I had stuck it all in Sushi LP, then some rewards i take as sILV at start to use “in game” and others later on take as ILV and they still end up 12months staked at 80% but first they pass through that lovely 650% magic

[queen horizon]

Yeah SLP lock is best

[ripe steppe]

But got a sweet sweet bag anyways in Sushi LP so all is good and excited to play the game and see the community thrive

[ripe steppe]

💯

[elder dawn]

i agree with you - for now. i believe as more people discover the project and we see more staking and rewards decrease, IL will be a bigger factor. Today, you're 100% right, there's practically no scenario (aside from ILV dropping and the project flopping) that is bearish. Rewards now greatly outweigh most other factors (though gas can totally screw people with small investments). We'll see in a year or two what the rewards are, though at that point, rev dis will be the major price driver imho.

[ripe steppe]

💪🏻🚀

[clear cape]

The theory you have is heavily dependant on the APY staying that high. Hard to tell how far it can diminish

[ruby wing]

only if ur bag is big enough IMO 🙂

[full frost]

What surprised me is that it's one thing to hear about IL due to the divergence of token prices, but when I typed in ILV increasing 10x vs ETH, holding steady it's still a nice gain, so it really helps to have the spreadsheet. ILV 10X is my best guess

[clear cape]

I’m worried the trailer is really gonna knock down APY when the flood of new money comes in but who knows 🥳

[full frost]

oh that's true, I don't see if that's taken into account

[ripe steppe]

Yh few people asking me if they should invest and i outright told them theres no point cos they were looking to invest $200 and fees alone are just not worth it, at least $1000 preferably a bunch more

[dusk fog]

10x from here is nearly 50B$ market cap. Blizzard has 64B$, just saying 🙂

At full supply that is

[ripe steppe]

Honestly i hope ILV does 10X and not just 10x but 10X compared to ETH, would be sick, and still bang our investments in a positive direction

[full frost]

so many factors

[clear cape]

Fully supply won’t be out for a while and also it doesn’t factor in how much ILV will never be minted due to sIlv

[elder dawn]

all of those people need to buy ILV from the Sushi pool, so that would drive pricing action, making it harder to invest, and their stake would be lower compared to those already in. I'm for anything that drives project success and our financial success, even at the cost of some APY.

[dusk fog]

True true, by the time the full supply is in circulation we would probably see how much the revdis potential will pump the token price or not anyway 🙂

[clear cape]

Yeah I wouldn’t mind, I just want it to stay up high enough for a month or 2 so I can make back a lot of my initial and not have to worry about IL hahaha

[ripe steppe]

Crypto companies get market caps bigger than normal companies all the time, and crypto gaming will easily overtake mainsteam gaming over the next decade or sooner due to network effect and way more people will wanna play, theres so many gamers that stopped gaming just cos they felt it was end of day a waste of time, and with a financial incentive where you are actually rewarded real world for your effort gamers have a reason to stick around after their teenage years now

[clear cape]

Yeah lol, normies equating video games with money will be ground breaking. And wait until ILV hosts one of the biggest esport tournaments ever within the first 6-12 months of launch

[full frost]

Is that an announcement somewhere?

[dusk fog]

I am bullish on this as well, especially with the potential of tourney prizes to drive in so many players. I hope you're right that it's not completely reasonable to compare crypto market caps with regular companies, I just wanted to compare some numbers and the closest I got to is Blizzard with 10k employees and so many successful game series.

[clear cape]

Kieran Twitter it before. ILV has like 1 million tokens set aside for in game stuff including tournaments. As ILV grows in value, so will the prize pool. We could probably eclipse any prize pool for a tournament ever held if we really wanted to

[clear cape]

And has mentioned it in videos

[full frost]

Sweet. THe more I get to know the more I like this project. Though gamefi is a wacky world to the uninitiated (like me)

[dusk fog]

The 1M for Ingame Yield is gonna be for multiple games though right? No doubt it's gonna make it a long way into the future and by the time/if it ever runs out the DAO will resolve it somehow 🙂

[ripe steppe]

Imagine if blizzard got that successful without letting their players run the game or make money from it how much more this can grow. Not to mention illuvium will make more games in fiture and ILV will still be the token. Not to mention all the people that got into bitcoin and ETH and other cryptos early that have made mils and bils and have a huge part of their identity tied to cruptocurrency, their looking where to spend some of that and why are NFTs selling for so much, like Crypto Punks for thousands and millions, imagine how much is going to pour into NFTs which you can actually play with, earn money from playing with (yield) and have a use and a way in which you can experience and enjoy them in the metaverse, this entire space is ridiculously undervalued as of yet

[ripe steppe]

Yeah ages into the future, prizes will also likely decrease in size over time (decrease in ILV value) as the price of ILV grows, so they can in USD value kinda keep the prizes super high for a very long time

[clear cape]

If you do the math you’ll realise how massive that 1million token can be in terms of value

[ripe steppe]

This has been an insanely hype stream of dialogue last few hours 🚀

[clear cape]

Lol we need your hype in the token channel post gameplay trailer launch vet, I’d want to snort a massive dope of Hopium during then 🤣

[ripe steppe]

Ngl been thinking strongly about starting a YT channel on ILV and also livestreaming when the game starts (and hyping up all the way up to that starting point)

And explaining staking and stuff in detail, doing all the math in detail, breaking it all down etc. Thoughts?

[floral scroll]

Sounds great

[clear cape]

Best to do it now, soon content creators gonna be flooding up nft gaming with ILV content. That’s very good idea though in terms of focusing on the math and investment side, there is no one on YouTube who has done that for the game yet

[ripe steppe]

My thoughts exactly

[clear cape]

Let’s do it up fam 🥳✈️🚀

[floral scroll]

Goosebumps

[ripe steppe]

Ikr. And what an honor to be witnessing it. Smack Bang in the middle of the changing tides

[floral scroll]

Its crazy, I feel like we are seeing 'ready player one' coming to fruition in some aspects. I can really see people putting a heavy weight on their digital social status in the coming years

[charred zinc]

Hey yall, i hit stake but nothing is happening what am I doing wrong? I have ETH and trying to stake all my ILV to the easier 80% APY core pool

[halcyon oracle]

Did you follow the video steps ?

[charred zinc]

prolly not I was looking a blogs

[halcyon oracle]

Look at the pinned messages, there is the video tutorial

[charred zinc]

thank you, so many things pinned, which on eis it, do you have a link for the vid?

[ripe steppe]

We are ready tho 🚀 as ready as we’ll ever be

[elder dawn]

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

[charred zinc]

Thank you!!!!!!

[floral scroll]

How much in total gas fees is it gonna cost me to stake in the sushi LP? I have the ethereum ready in my metamask, just wondering if i will need more

[elder dawn]

right now, hundreds of dollars. At low gas (<30) it is closer to $100 or even a little less.

[ripe steppe]

I kept like 0.15 on the side for that, was a bit much but i think the fees are even higher rn, maybe wait for them to get down

[floral scroll]

Oh man, I only want one token as well haha

[ripe steppe]

Yh 100% wait for them to get lower, or get a bigger bag to make it worth it

[elder dawn]

wait until later tonight or over the weekend and keep your eye on gas.

[floral scroll]

yeah i guess i will be waiting, unfortunately not in a position to get a bigger bag, student life. I was checking and it seems like best time is the next 2-4 hours

[ripe steppe]

Or both a bigger bag and wait for them to get lower lol 😉 NFA

[ripe steppe]

GL bro 💪🏻✨ i know them feels

[halcyon oracle]

gas is skyrocketing rn

[ripe steppe]

U gunna stake in Sushi LP

[floral scroll]

Tbf thanks to axie im in a better position than i ever thought i would be, i just still dont feel comftorable throwing more than 500-1000 at this yet

[iron pebble]

i can't for the life of me understand who's even buying right now with these fees

[floral scroll]

Right? Reserved for the wealthy currently

[ripe steppe]

Same Axie helped, kinda just rinsed that out and dumped it all here, did it in 2 pieces, first one in, then did a bunch of research, got more bullish, put more in, currently at my limit though simply cant go further, heck if i could bang $100k i would but ive got no where near that kinda buck lol sadly

[floral scroll]

Yeah im still thinking about holding onto my scholars' teams for the time being. But maybe if i get to your level of conviction my mind will change haha

[ripe steppe]

Super bearish on axie rn compared to this, just got 3 axies left and 1 scholar playing cos i dont wanna cut him off and nothing else left

[floral scroll]

Yeah im bearish short term, but im at the point where I have my ROI so just enjoying the passive income. Im hoping for some developments to help things along in Q4

[iron pebble]

this is most definitely NOT financial advice, but check plant vs undead if you have some money to spare into a project, I made x10 in 3 weeks (ceiling for getting max rewards and whatnot is much more expensive now but it's still super profitable), but this is super off topic already so if you have any doubt let's talk there (i'm from a shitty 3rd world country so it helped a lot with my economy, that's why i bring it up)

[ripe steppe]

I mean save up what u can from alternative sources of finance, leave ur scholars to earn, diversified portfolio aint a bad thing lol, and buy small bits here and there over the next months of ILV when u have money u can afford and when gas is low, no need to hurt urself to get in or disconnect ur scholars if u dnt wanna lol

[sturdy python]

guys complete newby question and sorry if has been asked before but what happens to the SLP after the 12 month locked?

[ripe steppe]

It is then no longer locked so u can take it back to sushi and exhange back or maybe stake it again

[sturdy python]

exchange it back for eth and ilv?

[ripe steppe]

Both

[sturdy python]

yeah right. thanks trying to get my head around this SLP thing, never looked at defi before and couldn't find that answer

[elder dawn]

or just leave it staked. if you don't withdraw, you keep earning staking rewards and you keep your 2x weight. you just gain the ability to withdraw if you want.

[ripe steppe]

Bro, keep asking questions, the community is really helpful, dont be shy

[sturdy python]

so i looked at the spreadsheet in the pinned and claiming your reward every 4 weeks is best?

[ripe steppe]

Sweet, actually didnt know that 👌🏻👌🏻👌🏻👌🏻👌🏻

[elder dawn]

thats entirely based on your inputs. if it was my spreadsheet, i try to take into account decreasing rewards over time and gas fees. if you claim too often, gas fees eat up your compounding gains.

[sturdy python]

but you can't just leave it unclaimed for the 12 months right as you won't get any compounding gains?

[ripe steppe]

If ur claiming to ILV, if ur gunna claim 2-3 months worth on sILV, no point claiming it in three chunks, better in 1 so u pay less gas…….. but yh if withdrawing ILV then every month is nice cos withdrawing ILV puts it on stake for 1 year, that way a year later u get withdrawals every month coming through, gunna be a great time lol

[elder dawn]

correct. you earn, but your rewards don't gain any interest, nor are they eligible for revenue distribution or DAO voting power.

[sturdy python]

all very interesting this space. cheers guys appreciate it

[ripe steppe]

If u have a huge investment, then withrawing once a week might be better cos gas fees are negligible compared to rewards stacking bonuses ur missing on

[sturdy python]

haha i wish

[ripe steppe]

Same lol

[open steeple]

1slp is worth how much $? And the price is 50% ilv and 50% eth combined right?

Meaning that 1slp is wortb 50%eth and 50% ilv has the price in the current market?

[ripe steppe]

50/50 split yes, …….not sure exact SLP price, but doesnt really matter will be worth total of the eth and ILV

[elder dawn]

1 SLP right now is about $2700, and yes, that is $1350 ETH and ILV each

[open steeple]

Do you think that 1slp is good enough to cover the gas fees in the slp pool?

Locked fixed for 12months and claiming probbly 1time/month

[elder dawn]

thats up to you and based on what you think the long term price of ILV will be. Just estimate at least $100 to gas fees to stake and then probably another $50+ every time you claim. ensure you're looking for low gas, as it will be higher right now with gas 70+ Gwei at the moment.

[open steeple]

I already stake it, just asking you guys opinion because i believe in the project but im kind of a noob in this

[elder dawn]

its not my rule of thumb, but a lot of people have set the threshold around $1000 to be worth it to do the SLP versus the ILV. ILV price long term is the biggest impact of whether its worth it.

[alpine vault]

Will there eventually be a way to use staked ILV as collateral? Not that pressing in the short term, but long term it'd be great to be able to access ILV capital without selling and maintaining RevDis.

[elder dawn]

i haven't heard that discussed. not sure how that would look and if the DAO would be interested in doing that directly, but certainly something you could write a governance proposal on. it would definitely be a different business model to also become a lender like Aave.

[alpine vault]

I was thinking more along the lines of using staked ILV as collateral for an Aave loan, and less Illuvium becoming a lender.

[elder dawn]

yeah - the issue there is that you have to be staked with Illuvium to get rev dis, and there would have to be permissions for Aave to unstake and liquidate if the value dropped. I'm not an expert in the programming side of this, so not sure if that would be possible.

[open steeple]

Have been making some math and using some calculators in here, it is possible for me to make like 70k until 2024 with a 3k invest on the slp pool? With this apy and the 2.0 weight + revdis this seems possible, but how big will the IL be if the Ilv price skyroket vs eth vs my 3k invest? Just to try to understand this imprmnent loss thing

[mint cave]

how about an ILV loan, but your revdis/staking rewards pay it back over time?

[inland girder]

what do you think, from what amount is staking worthwhile if the illuvium price and eth gas prices remain constant? I know many ifs...

[mint cave]

but also it's an in-house lending platform, not off on AAVE 🤔

[alpine vault]

I'm not sure on the technical side either. However, OlympusDAO allows you to used staked OHM as collateral while still having your OHM compound so it seems like it might be possible.

That's an interesting idea @mint cave. Reminds me of the Alchemix model.

[elder dawn]

i just added an ILV specific IL calculator to my spreadsheet. i'm still writing up the instructions and some scenarios, but you can play around with it to see the impact of IL versus staking rewards. Go to the tab Imperm Loss
https://docs.google.com/spreadsheets/d/1gj_tPlLzAdeReC0Ne9BcxKN2OJ6xK1nl-9JJ2YW0WWI/edit#gid=309195230

[open steeple]

Awesome ty

[mint cave]

rah brought it up once and i've been a huge proponent of the idea ever since

post-launch i think we'll submit a proposal/explore the idea

[ripe steppe]

scroll up a bit we had a good chat about impermanent loss starting around an hour and half ago

[unreal storm]

YAY I finally got my Stake in!! WOOOHOOO!! Thanks for all your help everyone. Now I can tell my friends how to do it super easy!!!

[naive cargo]

Hi guys, I'm really new here and still trying to understand things. I'd like to ask a simple thing, I staked 0.3 ILV in the core pool, if I add more in the future will it add to this amount I already have staked?

[elder dawn]

congrats and welcome to the pool!

[mint cave]

no, it will create a separate stake, but both will add to your rewards

[naive cargo]

Oh, that was what I was thinking it would happen, thanks!

[open steeple]

So if apy stays around 600 or even drops to 500% on the slp pool we can make our inicial investiment in around 2months 3months?

[ripe steppe]

yup

[open steeple]

This seems way to good 🤑

[ripe steppe]

but if you withdraw it in ILV, then it is 'vested' (locked) for 1 year at 80% apy (so increases even more but still locked)

[open steeple]

I think i understand the risks now, from your previous talks, biggest issues is? IL, security, the game itselt right?

[ripe steppe]

if you withdraw it in sILV you have access to it immediately, but you can only use sILV in game (im personally going to withdraw everything in sILV about a week before game release and use it all in the game, collect characters and build, sell nothing, HODL, expand, when I run out of sILV, then sell some of the characters for ETH on the IlluviDEX, which i can then use in game or cash out or whatever i want) ( and remaining rewards mostly withdraw in ILV but maybe some sILV topups when i want extra for in game, cos dont wanna sell any characters for as long as possible, let them get more and more scarse, price only going up long term as they get rarer and people arent selling)

[ripe steppe]

biggest issue is if somehow the whole entire game flops completely, otherwise shits pretty sound

[open steeple]

Seems like a very solid strat, i was planning to claim 1/month ILV while apy is high

Btw ty for all this, been super helpfull, much aprreciated m8💪

[ripe steppe]

also consider, lets say theres a 2% chance it goes to shit, u lose everything, 90% chance you make 5-50X or more over next 1-3years, 8% chance u break even or only 2X or something, those are pretty insane ODDS, and those odds seem better and better when u listen to the developers and really see how sound this is and the whole customers run everything and own everything and like the people that made this, they dont have any special priveledges, the way they are making money from this game is the same as us, they are also making money from the Sushi LP same as us, they want this to succeed just as much as we do if not more so, all the incentives in the entire structure design are floorless, the leaderships incentives are in the right direction, the players incentives are in the same game progress orientation, just epic

[fleet island]

How many ilv do i need to stake with flexible pool to get 1 ilv per day ?? Any one did the calcul ?

[ripe steppe]

4912

[elder dawn]

right now at 40% APY, it would be 912. 912 ILV x 40%/365 = 1

[ripe steppe]

912* ILV sorry misclick the 4

[elder dawn]

glad our math agrees 😉

[open steeple]

Yeah like i said this seems like a thing that nobody wanna miss, everthing i see about this project seems flawless

[fleet island]

912*500=456k ouch

[open steeple]

Little bit off topic, can i connect my metamask on my phone ?

[fresh grail]

Yes

[open steeple]

Im trying to connect it on the site to see the current apy on the pools but i cant

Already did it lol, tyty

[halcyon sage]

What do you guys generally think is worth claiming? I have .55 rewards pending wondering if I should wait or get that now

Gas is reasonably lowish for once

[fresh grail]

Wait, in that case. Gas fees will eat into that. Maybe use the calculator someone created in the pinned post.

[ripe steppe]

claim like once a month or so, more if u dont have that much staked, less often if its a small bag (gas fee reasons)

[halcyon sage]

Good looks gonna check that out

[elder dawn]

gas is definitely not low right now. my math has you only earning about 0.155 ILV in a year by claiming 0.55 today, so that doesn't seem worth it to me, but depends what you think ILV will be worth.

[fresh grail]

I claim every weekend, because my percentage of fees:reward is low enough. Also it's when gas fees are usually lower.

[lilac coyote]

One would claim more often if they have a large stake. But with high gas still probably not more than once per week

[ripe steppe]

if you stake with 1 year lock its half that amount, if you stake in SushiLP you need like £30k to get 1 ILV per day (although APY is going down 3% per 2 weeks or something so will slow down slightly over time)...... also like 1 ILV per day is $500 per day, thats an insane wage, and insane passive income, you arent getting that for 0 investment, also u could get less staked and as the value of ILV rises it could go up to the point where in USD its as if u were earning $500 per day if that makes sense

[halcyon sage]

It said 50 something on the gas tracker when I said that but jumped up to 70s

[ripe steppe]

100% nobody, no matter how large a bag, should be claiming more than once a week lol

[elder dawn]

generally lower in a few hours. friday nights tend to be lower

[meager prairie]

If I already have staked into both pools through metamask and now I have ordered a ledger cold wallet. Will I be able to use ledger with already my locked and staked ilv? I've never used a cold wallet before so maybe this question should be posed to ledger? Hmm

[ruby wing]

if you search this channel this has been answered 🙂 basically it depends if u are locked or not

[lilac coyote]

The way to calculate is this: ILV you earn per day x current price of ILV x 0.8 (APY of solo pool) divided by 365. This gives you the interest you will earn on your daily ILV claim. You then take your gas fee and divide by that number. That tells you how many days between claims appears rational.

[ruby wing]

you can link your ledger to metamask and restake if u are currently not locked

[lilac coyote]

You can modify the equations to get a sense of how many tokens are acquired before it makes sense to claim. This can be easier so you don’t have to remember the date of your last claim.

Then just wait for similar or lower gas fees

If the token price sky rockets then the claim interval shortens.

[ripe steppe]

so you cant lock your metamask up if you are already staked?

[lilac coyote]

If gas stays high then you increase the claim interval

[elder dawn]

my mantra on it is wait until my rewards cross my threshold to claim, then watch for cheap gas.

[ruby wing]

No what I mean is, if you are already staked + locked u cant move to another wallet

[clever swan]

so anyone have any ideas or theories on how fast slp apy will decrease over time, like what it will be in 3 months, 6 months, 9 months and 12 months?

[open steeple]

Where can i find information on how will we be able to withdraws rewards after vesting?i get paid ilv and then transfer to metamask then to binance then sell then withdraw to my bank account? Is this the right order of the process ?

[lilac coyote]

I agree. Some people say claim amount should be 20x transaction fee. I think in this situation it’s a little more nuanced.

[clever swan]

trying to figure out if I want to stake slp more right now 😆

[fleet island]

I am.bit noob stakinh, how staking with sushi work ?

[lilac coyote]

Token # is decreasing by 3% every 14 days however APY is also influenced by amount of pool deposits and ILV price

[ripe steppe]

so just to clarify, currently I am staked and locked in staking, so cant change the wallet thats cool, but this wallet that im currently using I can still lock/secure it with a hardware wallet for additional security?

[clever swan]

yeah just trying to get a sense if it can fall dramatically in a month to like 300% or if it will gradual fall over long periods of time.

[elder dawn]

yes, you can lock your wallet.

[clever swan]

But a mod did say that price increase will help keep the apy higher as well.

[ripe steppe]

yh u just withdraw it, pay a gas fee, then from your metamask do as you like

[golden breach]

Those gas fees are f.ing insane

First 60 dollars then 90 then now 240 or something

Been waiting for the gas to drop, but just gets higher

[ripe steppe]

stake with sushi only if you plan to stake above $1000, the more the better for gas fee reasons makes it more worthwhile, you go to shushiswap, https://app.sushi.com/swap?inputCurrency=&outputCurrency=0x767FE9EDC9E0dF98E07454847909b5E959D7ca0E have your ETH ready to buy what you wanna buy, leave at least 0.15ETH in the wallet for gas fees (for staking it and all the transfers and to have some left over for later for withdrawals and such), the rest of your ETH, trade 50% of it for ILV (on the swap tab) then go on the Liquidity tab and put in MAX on the ILV, and it will match it with equivelant ETH (leaving about 0.15 ETH in your metamask for later transactions), stake that, pay the transaction fees and you will now have SLP in your metamask, now go to https://staking.illuvium.io/ and stake your SLP (SushiLP)

[ripe steppe]

once you have actually done all that and if it wasnt clear what I wrote hear is a video explaining it https://www.youtube.com/watch?v=C6YugU4zZr4

[lilac coyote]

I certainly hope not. Most likely APY stays fairly consistent between 600-700. It could very well drop down if there is influx of stakers.

[umbral crane]

I hightly doubt it stays tht high for a long time

[unique bear]

Gas prices are being a lil bitch at the moment. Hanging out for the weekend and been preparing a nice pepper sauce to go with my stake and the price has only increased! Bloody hell

[junior shuttle]

Gas is nuts atm

[clever swan]

you think it will stay in this range for a year?

[umbral crane]

If it stays in tht range i think thts a bad thing for us lol

[ripe steppe]

once you have done all that, you are now earning interest, if you have locked you SushiLP for 1 year then around 650% APY (APY subject to go down slightly over time) and this APY comes into ur Illuvium.io as rewards which you can claim, recommended you claim once a month or two (if you have only a small amount the gas fees will take away from your profit so you may wanna wait longer and wait for low gas fee days etc.) .... once uve done all this when u claim rewards you can claim ILV or sILV, if you claim ILV that is then also locked up for 1 year vesting period where on top of the fact its a reward, on that reward you earn 80% APY (APY subject to go down slightly over time), but if you claim sILV you get to use it straight away, and have access to it immediately, however sILV is a token you can only use within the Illuvium game (may be worth withdrawing in this way to have funds to put into the game, I myself will withdraw sILV for first 1-3 months to have $'s for the game and after that claim all in ILV for long term investment gains once I have enough invested into the game itself) so thats about as much explanation as I have, if you have anymore question please ask, the discord community is super helpful

[lilac coyote]

It will drop over the next 6 months, but for the near future ie next month it’ll be relatively stable

[twin furnace]

APY automatically reduces by 3% every fortnight, so most likely not in this range after 1 year

[fleet island]

It's clear the thing is Hy therr is a big difference of apy ??

[umbral crane]

If it stays high doesnt tht mean less people are staking/investing and ye we get more ilv but it means the price of ilv is also lower

[ripe steppe]

think someone was saying that APY is decreasing by 3% every 2 weeks which is quite a slow rate, and also it can increase based on different factors, so not really worth worrying about IMO

[halcyon oracle]

😄

[fleet island]

That big difference of apy is big i don't understand why

[ripe steppe]

difference between normal staking and the Liquidity Providing?

[umbral crane]

Ye my thought process was were early which is why apy so high, we get to farm alot but once it reaches a higher price apy is gunna be so low. Thats why we need to take advantage rn

[fleet island]

Yes

[open steeple]

Why not just make one big claim of Silv since they dont conpound

[ripe steppe]

there will be APY for next 3 years, it will gradually decrease, the best time to get in is yesterday, second best time is NOW, 100% agree

[twin furnace]

APY is calculated base on dollar value - so if the percentage remains at similar level while the dollar value of the tokens increase, the dollar-value return will become higher

[ripe steppe]

I will be with the sILV for that reason to save on gas

[halcyon oracle]

Definitely not now with 315$ gas fee

[fleet island]

So any zxplication why apy is so high

[umbral crane]

Pic someone jus sent says 30$

[fleet island]

If i am putin 10 ilv i have to put 1.5eth in liquidity too. And i am earning 70ilv per year right ? (Approx)

[umbral crane]

Wont be 70 itll be like 40 probably but deoending on when u claim tht 40 tht too will stake aka compound so ull get some more off tht

[fleet island]

That fat asfk

[umbral crane]

40 moght be high

[fleet island]

Everyone is doing sushilp staking there ?

[twin furnace]

A bit more than that. You will earn ~600% of the combined value of your ILV and ETH, plus 0.25% of trading fee generated in the liquidity pool. But the trade off is impermanent loss.

[umbral crane]

Bruh wtf are these gas fees man

[ripe steppe]

so there is a certain amount of ILV dedicated to the liquidity pools rewards and to the ILV staking rewards ...... of the rewards available 20% goes to ILV staking, 80% goes to SushiLP staking , the reason for this is because they want to incentivise more people to provide liquidity, the reason they want that is that the more liquidity is available the more easy it is for people to buy and sell and transact between ETH and ILV and the main gateway into ILV is ETH, this liquidity makes everything flow and work, im explaining it shit for sure so google some youtube videos on defi liquidity providers to explain it, youtuber called FINEMATICS has good explanations

[fleet island]

And how can we revert the liquidity ? I mean transform bzck sushilp to our ilv ?

When we use liquidity tab it's transofrming eth+ilv as. Sushilp ? Or just making sushilp and you keep ilv

[clever swan]

nah, I seen the slp apy fluctuate around 40% this week alone

[twin furnace]

The majority of the very early people are staked mostly in ILV due to the differences in APY not being as great during the earliest days. By now their investments have seen a 10x

[clever swan]

from high 640% to around 605%

[ripe steppe]

gas fees are currently high because there is high demand, lots of people currently transacting with ETH, and crazy fuckers willing to pay that damn transaction fee, wait for when they drop, they always eventually do, just keep a gas tracking website tab open and check every once in a while or something, patience is key, I am not patient, spent maybe $300 on all the transactions lol, but YOLO im getting in early and $300 gunna seem like chump change in 1-2 years thanks to ILV

[twin furnace]

Use Sushiswap to remove liquidity

[icy ocean]

I staked in ILV because I was confused with SLP , actually I am am still little bit confused , but it does not seem to be as scary anymore

[umbral crane]

Ye it cud be really low really fast. Ivr seen other coins go from like 800 to 80 in a week

[clever swan]

unless the 3% decrease is setting a high cap it can't pass.

[twin furnace]

This is why I said we will not likely see this level of APY in a years time. Especially if the project really blow up

[fleet island]

Same, i am not sure to understand everything

[umbral crane]

The apy is so high rn it makes the gas fees worth it

[twin furnace]

Which means now is a good time to get in if you want to

[clever swan]

No I get that but I was just asking if people had some projections in here based on a forumla or something and not just vague general thoughts.

[ripe steppe]

when u make SushiLP, you stake the ILV and ETH in the liquidity pool, those are no longer in your wallet they are now in the pool, you now have Sushi LP, you then lock that up on illuvium, and after the lock up ends, you can keep it in Illuvium to keep earning APY, or at this point you can remove it if you choose, take it back to sushiswap and exchange it back for ETH and ILV

[umbral crane]

Wheres the best site for looking st gas fees in usd?

[civic hemlock]

Hey guys, are you able to change the type of rewards you get at any time? Or is that locked in for the 12 months?

[clever swan]

https://ethgasstation.info/calculatorTxV.php

[twin furnace]

The formula - if you want to calculate it, is that the SushiLP pool (ILV portion) gets 80% of staking rewards, and ILV pool gets 20%. Then within each pool, there are tokens staked at different weightings. The overall APY is dynamic and depends on the ratio of staked token within each pool. This ratio of 80:20 keeps the liquidity of ILV high in the market

[icy ocean]

you don't have to chose until you windraw, you get both at the same time, but you can claim only 1

[ripe steppe]

yeah I first put 2 ILV into normal staking cos I was like what the heck is Sushi LP lol, but then I did some digging and oh shit... a gold mine of compound upon compound upon compound not to mention the actual price of ILV going up, further compound

[umbral crane]

So its only 10$ rn?

[clever swan]

Yeah I think most of us know about the ratio but that's just one part of the formula

[civic hemlock]

Got it thanks.

[ripe steppe]

everytime u withdraw u choose the form of reward u wish to withdraw

[twin furnace]

If you go to etherscan you’ll see the total supply of the ILV/ETH liquidity coins. Use that to calculate the ratio with the total ILV staked in ILV contract, then calculate how many ILV is supposed to be rewarded over the next 2 yearish (decay), then calculate a block average for that figure, you will eventually be able to get an APPROXIMATE for it.

[clever swan]

I'm curious what the formula is for the apy which from what I gather includes price, number of stakers joining, time passing, etc...

[civic hemlock]

Thank you Vetemor

[clever swan]

has anyone done this and shared it with the community?

[twin furnace]

If you have data, it makes it much easier to do automatic calculation. If not then it takes a bit of research to gather the data for yourself

[umbral crane]

Does this mean gas fees are only 10$ rn?

[clever swan]

a mod also said price impacts it but maybe it does so only indirectly in that it can effect how many people stake or not. but he seemed to think an increase in price drove the apy up from what he observed the past 2 months.

[umbral crane]

I kno tht cant be right so is there any aite tht jus tells u thevlive gas fee in usd always like plainly. What is all this other nonsense going on

[swift spindle]

I just tried Sushi and it was only like $65

[clever swan]

no bc each smart contract has way different amounts of gas used

[umbral crane]

So thats not tht much? Thts good

[open steeple]

So if i was to stake more since i im already in slp pool, how many transactions will it take ? I see that 0.15eth is good but whats the procees? One for claiming the ilv, one for staking?

[twin furnace]

What I understood from that conversation is that increase in ILV price drove up ILV demand rather than SLP demand due to the risk of impermanent loss, so a greater rise in SLP APY compared to ILV APY. I think it also has market dynamics (e.g. people pulling staked ILV out of the pool to secure profit), but I don’t think many know exactly what was happening at that time

[clever swan]

right now a lot of people are jumping into slp 1 year lock thinking they will get their principal back in around 3 months but if the apy starts falling dramatically, they might never reach that amount for the year lock and also lose ilvs due to impermanent loss so it would be good to get some solid numbers so people can strategize better instead of going into things with vague notions.

getting more information and sharing it within the community is never a bad thing.

[open steeple]

Im one of those for sure, is that being to optimistic?

[lilac coyote]

There are no solid numbers, high risk. We’re literally investing in an unreleased blockchain game from founders who have never released a game.

[twin furnace]

Yes… it is not so good to set up an extremely high expectation. I think it all comes down to risk management - really for me it’s about how much ILV blows up so I have to counteract the IL at the end of the staking period

[clever swan]

dude we all get that, I'm talking about figuring out ways to assess risk in different scenarios

[ripe steppe]

so there isnt a perfect formula, its everchanging, but from what im aware its something like this, the total APY% goes down about 2-3% every 2 weeks, APY is also affected by total staked in that pool . ...... on top of this when the game launches there will be an IlluviDEX, all transactions on there will be in ETH, 5% of this ETH is put to the side, there will also be ETH wagering, 10% of all wagering is put to the side, all this ETH put to the side (100% of it) is used to buy ILV token and this ILV token is 100% given as APY for stake holders, for this reason APY will not fall dramatically long term but will maintain somewhat, and the more the game booms, the more demand for ILV and the more ILV is also bought off the markets to give to US the STAKERS, ,....... and on top of all this the developers have 0% cut in all this, they take no profit from this game, the only way they make moey is through staking in ILV or in SushiLP in EXACTLY the same way in which we do, so they want higher APY because thats how them and everyone else is making money, everyone wins, we all own this game equally, this is why there is nothing else quite like this

[umbral crane]

Ye i was thinking about this before. But i guess u wud have a bunch kf ilv tokens tht are jus staking at tht point which wudnt be affected by inpermanant loss at all, the rewards

[lilac coyote]

You were asking for solid numbers to better strategize. I think SLP is more reward than loss in the long run. I could be wrong.

[umbral crane]

Adn eth in two yesrs will prob go up a good amount too

[clever swan]

I keep hearing this decrease of 3% but some ppl, including a mod, said it only applies to ilv pool because we all see slp apy fluctuate 20-30% in one day. so there is confusion on even these basic ideas.

[ripe steppe]

if you stake more it takes two transactions (they happen simultaniously u dont need to claim rewards u just need to stake the SLP and the claiming happens automatically they just ask in what form u wanna claim and bang 2 transaction fees happens simultaniously and smoothly)

[lilac coyote]

APY is a function of reward token price as well as amount of assets in the pool, in addition to the scheduled emissions. The scheduled emissions decrease by 3% per fortnight.

[icy ocean]

I don't understand why it is said that impermanent loss is only in SLP, by description it is possible to get it in ILV too , ofc less chance but it is still out there

[umbral crane]

U cant get impermanant loss if u jus staking and not matching with eth

[lilac coyote]

IL does not apply to solo pools or stable coin pairs (usually)

[icy ocean]

But it is just aspect of tokens price change, ILV might as well droop in price making you lose

[twin furnace]

There was a chart shared which I can’t find currently. It definitely applies to both ILV and SLP, and it’s proportionate - APY for SLP decreases at a higher rate than ILV. The thing with these big fluctuations is that fluctuation in SLP is magnified compared to ILV due to the increased weighting. I think APY for SLP will still fluctuate like crazy, but that is a risk that we have to weigh up before staking in

[lilac coyote]

That’s a stretch of the concept but ok

[umbral crane]

In the end this concern stems from if ilv blows up like crazy will we still have max profits but i think if ilv blows up like crazy will be ok

[broken aspen]

The price of gas fees when claiming rewards is so much! Will staking V2 make any change to this?

[ripe steppe]

100%, since in 2-3 months u get back ur initial investment and then on top of that have that also then staked for 1 year also earning APY, that alone is bomb, but then u also have an extra 8-7 months of more rewards left which also will later earn adiitional APY and at the end of it all you even get back ur initial investment of ILV and ETH which by then will also have risen in value and all during this time all the compound and everything. to add extra compound the price of ILV is going up and up longterm as its only getting more and more scarse

[lilac coyote]

yield farming lasts 3 yrs total

[twin furnace]

Thinking about the current figures, I would say this is most likely true!

[vague thistle]

Does it cost more gas to stake than to swap?

[twin furnace]

Yes. Gas fee depends on the complexity of the smart contract in general

[ripe steppe]

impermanent loss can only happen to whatever you put in a liquidity pool, to off balance whatever this loss might be you earn insane amounts of rewards (600% APY) and those rewards are given to you in ILV or sILV, neither ILV or sILV is subject to impermanent loss as neither of those tokens are in the liquidity pool, the initial ILV you put in the liquidity pool, that is subject potentially to impermanent loss (but who cares about impermanent loss, hell i dont care if i lose everything that Ive put into the liquidity pool (which is borderline impossible anyways) but even if u lost all that you have all those rewards that are way more than ur initial investment which on top of that you will earn furthur compounding interest on them and not to mention the price of ILV all during this time is also going up) INSANE IN THE MEMBRANE

[ripe steppe]

yield farming is available for 3 full years yes, but from the moment u start SushiLP staking, that will be freed up if you wish to withdraw it 1 year later and all rewards from that will be freed up fully 2 years after the initial staking, once assets are freed up you can restake them and compound some more 100%, and its likely not a bad idea to do so

[ripe steppe]

i think it actually does, not sure why, maybe their more numerous or complex transaction or something idk, like i remember in axie infinity pulling out assets into metamask always had a higher transaction fee by a good amount compared to sending from one metamask to another not sure why

[lilac coyote]

You can unstake if you desire (after 52 weeks), but you then lose 2x weighting

[ripe steppe]

lol my bad u already answered this way better lol

[ripe steppe]

yeah, i will not be unstaking myself

[twin furnace]

Haha it’s totally fine! More chance they don’t miss it 😄

[ripe steppe]

https://tenor.com/view/yay-yes-yes-yes-cheering-happy-pumped-gif-17307562

[alpine vault]

ILV emissions for staking rewards go down by 3% every two weeks, but the APY also depends on how much is staked. The more staked in a pool, the less each token (ILV or SLP) gets. If you saw APY changing like that, it's from people (un)staking.

[ripe steppe]

i forget that some people have actually not locked it up for 12 months lol 🙈

!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.

[ripe steppe]

you may be right on this, im not certain entirely, but also the APY is supported by what is written just above your message also

so once the game is out there will be additional support for APY due to in game payments dynamics

[broken aspen]

I’m doing way more research into crypto then I ever thought I would since staking on this just a week ago haha I understand the need for gas and how the miners/burning of Eth during transactions is important at maintaining the whole networks value but so far I haven’t found any information on what V2 staking will actually do. Hoping someone else might know something

Yeah just for Illuvium haha

[unique bear]

Hi all. Should your SLP balance (after staking) show up in Metamask if you've added the token? Or once it is staked is it hidden from Metamask as it's locked in the Illuvium platform?

[twin furnace]

Yes, it will be hidden as you’ve transferred it to the staking address so it’s not actually in your wallet

[lament gull]

Hi guys, may i know how to buy ILV? I want to stake some for 1year. Do i buy BNB in binance then send it to my metamask then pancakeswap like the others?

[ruby wing]

No

!buy

[woven ibex]

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

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

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

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

[lament gull]

oh damn i just bought BNB. so BNB cant be used to buy ILV? I need ETH right?

[ruby wing]

one second I dont think u can swap BNB

[lament gull]

damn, i shouldve both ETH in binance

[ruby wing]

😦 always check before buying

Ya I dont think you can because you need to be on the ETH mainnet to swap

Just trade BNB back to ETH on binance I guess

also gas might be higher than u think on ETH if u are used to BNB. Make sure that you are able to stomach the gas fee which is quite expensive 50$ + rn

[lament gull]

can i use the same metamask wallet (Trezor) on Eth mainnet and binance smart chain? or should i create a new metamask account for Eth mainnet?

[ruby wing]

you can use the same one 🙂 I have BSC and ETH tokens in one metamask

switch networks here

goodluck 🙂

!crypto

[woven ibex]

New to crypto? You may need to undergo Know Your Customer (KYC) verification with a centralized exchange - like Binance, Coinbase or Kraken - to turn your fiat into crypto. You will also need a wallet to hold your crypto. We recommend a free Meta Mask wallet: https://youtu.be/Sc8J98m6SZE.

Make sure to look into GAS / GWEI, as Eth transactions on the ETH network require a gas fee. You can use this historical data to get an idea on GWEI averages: https://etherscan.io/gastracker#historicaldata

There are many people on the Discord willing to help out newcomers but you really should do your homework as well and study this further on your own. DYOR (Do Your Own Research) is an important concept to understand in crypto.

[lament gull]

ah ok thanks. nice, at least i wont need to add a new trezor address

[ruby wing]

ya I think you will be good

jsut make sure you are on ETH Mainnet

[lament gull]

hmmmm wait, can i send the ETH i bought from binance to my metamask if its in the ETH network?

[gusty osprey]

Can we directly transfer from gate.io to Illuvium.io for staking ?

[lament gull]

watching the video, got it. thanks

[copper dawn]

You will be required to use a wallet such as MetaMask or WalletConnect to stake

[gusty osprey]

I will only pay once gas fee though ?

Do I have to have ETH or I can pay with ILV ?

[ruby wing]

you need ETH for gas fees, always

[copper dawn]

You will need to pay ETH gas fees for transactions, such as sending eth or ILV to your metamask wallet. You will need to pay gas fees again to stake (it's a little higher for the larger amount of computational work in the transaction).

[gusty osprey]

Wow so much fee, not sure if for only 1 ILV it’s worth it

[ruby wing]

IMO just stack ETH 🙂

and use it for mini game + main game if u want

[copper dawn]

No, it probably isn't worth the 1 ILV. If you really want to stake, wait for gas prices to reach the 20s again. But even then I would suggest staking more than 1 ILV if you can due to fees.

[gusty osprey]

Where can I do that ?

[ruby wing]

!crypto

[woven ibex]

New to crypto? You may need to undergo Know Your Customer (KYC) verification with a centralized exchange - like Binance, Coinbase or Kraken - to turn your fiat into crypto. You will also need a wallet to hold your crypto. We recommend a free Meta Mask wallet: https://youtu.be/Sc8J98m6SZE.

Make sure to look into GAS / GWEI, as Eth transactions on the ETH network require a gas fee. You can use this historical data to get an idea on GWEI averages: https://etherscan.io/gastracker#historicaldata

There are many people on the Discord willing to help out newcomers but you really should do your homework as well and study this further on your own. DYOR (Do Your Own Research) is an important concept to understand in crypto.

[brisk surge]

Hey guys. If I have stake already but want to add more it says I have to claim rewards. How does that work since I had locked everything for 52 weeks?

[keen ridge]

@brisk surge U claim the rewards from that locked investment that have already been earned and ad that to staking with the additional amount you are putting in in one to reduce gas fees

[brisk surge]

Does it matter what I claim the rewards in ? Ilv is silv?

[copper dawn]

sILV is available right away and can be used in game for things like travel. ILV will be locked for 12 months. Pick what is best for you. You can read more in the FAQs: https://www.illuvium.io/faq

[brisk surge]

Thanks

[wind walrus]

Also, don't manually claim before you add to your stake. It will claim automatically

[trail hornet]

I have a Q— do the staking rewards from staking ILV compound automatically if I don’t make a claim?

[ruby wing]

u need to claim to compound

🙂

[next ruin]

No, rewards must be claimed to start earning interest

[trail hornet]

Ahh ok, so basically it isn’t good to claim until you’ve made enough to where the benefit purely from compounding outweighs the eth cost to claim.. got it. Thanks. I’m sure people ask this Q a bunch

Ok thanks

[brisk surge]

Worked out well. Compounded my ILV stake and just increased my SLP stake. So I get it now

[ruby wing]

dw its an important question mate

[wind walrus]

You can also use the spreadsheet pinned in this section to help decide how often to claim.

[brisk surge]

Oh really!? I’m mobile right now but DEFINITELY need to read that

[wind walrus]

Yep. Save a copy and input your numbers. It really helps to see the cost of gas and potential for RevDis

[rich timber]

reason why SLP apy went up and then now down?

[ruby wing]

Its dynamic

Depends on lots of factors

[rich timber]

like?

[wind walrus]

Price of ILV, 3% Fortnite reduction, Flash pool, ect

[viscid glade]

when you claim your ilv from the slp pool does it automcatically vest for 365 days?

[ruby wing]

Yes in the single asset pool at 2X weight

Talking about rewards 🙂

[viscid glade]

so you can't claim it straight away it vests for a year first correct

[crisp patio]

So I just tried to stake in the SLP again. It compounded my rewards in ILV but did not add my additional SLP to the pool. Am I doing something wrong? I tried mobile and PC neither worked.

[elder dawn]

Correct. All claimed rewards have a 1 year vesting period, where they compound in the ILV pool

[elder dawn]

Following the instructions in the pinned video, it should claim your rewards first then stake SLP again (multiple transactions). It works as a separate staking, so it should act just like the first time you staked. Not sure what went wrong for you.

[unique bear]

Hey, does Revdis get added to your rewards, and therefore at each incremental claim of rewards (say from SLP and ILV pools) you just claim it as a single cumulative batch? I.e they are not broken down as separate rewards to claim and subject to their own gas fee?

[elder dawn]

rev dis will be its own thing, and will not have the 52 week vesting like rewards. likely they will have their own gas fee to remove or stake. i expect if unclaimed you can claim multiple rev dis in a single transaction if you have multiple issuances pending. tbd to me since it hasn't happened yet.

[dawn axle]

I have 2 ILV coins and i want to stake them. Is there anything i should know of before? Whats the best source of info to do my research. Cheers

[mint cave]

check out the pins in this channel, read the staking FAQ on the site: https://www.illuvium.io/staking-faq

[dawn axle]

Thanks

[mental tangle]

https://illuvinati.gitbook.io/illuvium-archives/

[eager bough]

I have 4 ILV and am trying to decide if I should divide it between the two pools, and what ratio if so. It seems like 1:1 (so only 1 total ILV in the SLP pool) might be too little (thx gas). Alternatively, all in on the SLP (so 2 ILV - ETH) seems fairly risky if the price of ILV explodes. Thoughts?

[unique bear]

I just staked some ILV after having previously staked some SLP. I wasn't required to claim any pending rewards in the process which I thought I would have to. Is that usually the case?

[vast jewel]

I think you only have to claim when adding to pool you are already staking to

[unique bear]

@vast jewel ahhhhh got ya. Thanks for the clarification

[sonic wolf]

who is behind this?

[mental tangle]

That would be @glass carbon ser

[azure jewel]

What happens to the vested funds once the rewards are claim? Do they also get rewards too during that 12 month frame while it’s locked and if it does does it take another 12 months to get those rewards?

[fresh grail]

Yep, those claimed vested funds will get compounded. The rewards again will take another 12 months from when you claim again and so on.

[faint seal]

Hey guys, I'm really new and eager to get into the staking world, but (probs due to my lack of knowledge), I'm finding it a bit hard to understand how gas impacts, for example, starting stacking with 1 or 2 ILVs

[glass carbon]

[scenic oracle]

not sure to flex stake or lock for 2x weight...

Yield Farm Contracts V2 - September / October (In development)

Found this in the road map I guess I will wait for Sep to see if the V2 farming has better yields

[quick flare]

it's weekend and the gas fee is still freaking high 🥲

[granite halo]

I think I am gonna hodl ILV until OCT and wait for V2 as well.

[wanton nova]

99% sure that the v2 farming will only deal with transactions and gas fees (I. E. The technical part) and leave the total rewards distributed as is

[neon isle]

how much many gas does claiming on the SLP use?

[clear cape]

like 100-110 usd at 60-70 gwei or so

[silver gull]

I want buy ILV, does it only support eth mainnet?

[manic spindle]

!buy Yes, ILV is an ERC-20 token on the ETH network 🙂

[woven ibex]

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

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

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

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

[iron pebble]

I want to stake on SLP but is it worth for only 0.44 SLP?
I don't mind having to wait more to claim rewards, but I wonder if it's not better to just get more ILV...

[wanton nova]

For the last week 1 slp with a weight of 2 got ~0.1 ilv per day. In the end its up to you

[iron pebble]

So around 0.04 ILV per day for me? not bad

[fading nexus]

It is a calculation that you would have to make for yourself. Take in account these high gas fees and the rewards that comes from slp staking when claiming you have two transactions,..... so do the math 😉 also staking comes with transaction costs.

[wanton nova]

Yeah but keep in mind that Apy is dynamic and will probably drop

[iron pebble]

Yeah, did some maths and used a spreadsheet someone made here, was just being extra cautious haha. Anyway, staked, don't mind paying a little bit more today since I'm going for the long run, thanks guys.
Probably dumb question, but whenever I want to stake more I'll just have to do the process again, right?

[fading nexus]

Yep

[iron pebble]

Gotcha. So I'll probably need to save a lot again lol. Thank you!

[fading nexus]

No problem mate, we are here to help each other.

[iron pebble]

Not gonna lie, seeing the reward ILV go up is kinda addicting. No wonder people with actual money love this stuff

[fading nexus]

For sure there are a lot of addicts in here haha

[clear cape]

Can confirm i refresh the tab at least 30-50 times a day, probably more...

Probably because i dont expect this 600+% APY to last much longer, everyday it stays, is another amazing day for me

[cyan wagon]

can i have the staking APY% on the dashboard here...bit greedy 😆

[formal dew]

hi all, lets say i staked on LP and now ive got ILV as rewards, can i stake the ILV i got or does 12 months lock means they cant be staked either

[manic spindle]

!claim Your claimed ILV rewards are automatically staked for compounding 🙂

[woven ibex]

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

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

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

[formal dew]

sick! thanks!

[hazy token]

what the hell with these gas prices! I'd like to speak to the manager 😏

[floral scroll]

So if the price of ILV rockets while ETH stays level will I be at risk if staking in the SLP?

[manic spindle]

You could face IL then, yes. https://academy.binance.com/en/articles/impermanent-loss-explained

[still kindle]

Honestly right now the gas is the best its been for 4 days !!! Crazy I know

[hazy token]

yeah, I was away for 4 days and came back last night thinking wth! Right now is best I've seen it for a while 👍

I blame the degen channel 😂

[still kindle]

I just managed to claim at 40 something yesterday as wasnt convinced this weekend will be quiet with crazy stuff happening in the NFT world such as BAYC drop etc

[hazy token]

what time is that drop?

[still kindle]

6pm ET i think

Im normally someone who claims on Sunday's 5-7am ET but even those times have been a bit frothy this past couple of weekends

[hazy token]

yeah, I remember a brief period of some sweet <30gwei tx a month or more back, but last few weeks, it's like you have to be sitting monitoring gas to know when to transact

[floral scroll]

If i staked in the SLP and the price of ILV did a 5x whilst ETH stayed level, would i be in a worse position compared to if I had just staked normally? Im struggling getting my head around it

[ripe steppe]

Are you claiming weekly?

[still kindle]

Yes that's the aim

[short copper]

When I claim my rewards can I skip the first transaction? to only claim from the sushi pool instead of the standard pool

[manic spindle]

No, both pools have to be claimed when claiming LP pool rewards.

[still kindle]

afraid not

[short copper]

That's pretty sad :c Thanks

[rain crest]

Hi, can anyone confirm that the current gas price for claiming staked ILV is ~100$? I'm using Metamask, if anyone has any tips on what to do to lower the fees, I'd be very grateful (including just waiting for a specific time of day/week when historically the fees are lower, or setting a specific amount of gas limit + gwei etc.) Thanks! 🙂

[twin skiff]

watch out when you claim the pools, I just tried to claim and it claimed my pool with 0.22 ILV, after that it claimed a pool with 0.00 ILV and again 0.00 ILV, transactioncosts around $70,- 😩

[short copper]

I just claimed and it was $40 and $56 for my two TX but I sped up because impatient

[austere cliff]

That kinda happened to me. I bought SLP when ILV was around 140 and Eth around 2000usd. But the 600%+ apy makes up for it. So even if and when ILV flies, the ILV u earned form the apy should offset the difference. If Ur more worried then go for the ILV pool

[short copper]

These are my positions and I earn about .2-.3 ILV per day and claim once a week

[twin skiff]

I saw this Youtuber today who pumped 30k into the game, his SLP was around 10.. So jealous..

[wanton nova]

I claimed for 20 gwei last Sunday

[wheat venture]

i havnt broke even with gas so far in ilv pool with my 4.2 ilv lol

[hazy token]

https://tenor.com/view/respect-hat-tip-tip-hat-gif-7890251

[ripe steppe]

You would be fine because the amount of rewards you would have received would completely outweigh any impermanent loss you may have incurred …. Think about it this way, in rewards you earn back the value of your original stake in 2-3 months, so after 2-3months you have already made back your money, so no loss can take place, if ILV price sky rockets and you lose money in the Liquidity Pool due to impermanent loss, it doesnt really matter because you have already earned more than your initial investment and it is all in ILV and the price of ILV has sky rocketed, so your ILV rewards are sky high so your flying in space, and on top of that those claimed rewards of ILV are also earning APY themselves for a year so your actually flying past the moon, ….. the only scenario available where you lose money due to impermanent loss and your overall investment loses money is only if ILV crashes, and not a temporary dip but literally goes down to nothing and never comes up, and if you unerstand the tokenomics behind ILV, the fact that not only players want it to succeed but the developers and leadership are also highly incentivised to make it succeed and all the burning and reinvesting of ETH and such, (NFA but IMO theres a 0.5% or lower chance it goes to shit, 5% chance it doesnt change all that much compared to ETH and 94.5% chance it does a 5-10X or more compared to ETH over the next 2-3 years (not to mention ETH’s also going up during that time). All in all if you have over $1000 and u wanna invest longterm in this project and believe in it, IMO SushiLP is the best play

#BULLISH

[frosty totem]

Seatin?

[floral scroll]

Thanks for the reply man. You mention the claimed rewards are earning apy as well. Do these rewards also earn the 600% apy?

[ripe steppe]

So Sushi LP earns the 600%, if you claim rewards in ILV, those are automatically locked the moment you claim them for 1 year earning around 80% APY, if you claim rewards as sILV you do not earn additional APY on sILV but you can use it straight away (only usable in game) (which is why im taking rewards after first 1-3 months in sILV so that I have a bunch of cheddar to play the game with and then after that claiming the rest in ILV…. Not Financial Advice)

[floral scroll]

Yeah i was thinking of claiming sILV as well. Is there a gas fee each time you claim sILV? Would it make more sense to claim it all in one transaction just before the game goes live?

[manic spindle]

Claiming sILV costs Gas just like ILV, yes 🙂

[ripe steppe]

There is a gas fee each time

[floral scroll]

Ok noted, im gonna wait for <30 gas and gonna pull the trigger on this. Could be waiting a while though..

[cyan wagon]

unlocking need pay gas? i mean withraw back to wallet...

[twin skiff]

Aye

[ripe steppe]

Ill either do it that way (just before game goes live) or just before land auction goes live, might wanna get some land also depending on price (and they should be releasing approx price before land goes on sale)

[ripe steppe]

GL, out of interest how much $ value you sticking in, is it over $1000

[brisk surge]

The more ILV appreciates in relation to ETH, the worse the impermanent loss will be. If you believe ILV will gain 5-10x vs ETH in a year, I doubt being a LP is better than staking.

[floral scroll]

yeah about $1000

[ripe steppe]

It is because you earn back in ILV rewards your initial investment in the first 2 months, then after that any additional ILV rewards are a bonus, after 4 months you have your initial investment back twice over, and in normal staking you less than double your initial investment in a whole year, in the first 4 months the impermanent loss aint gettin so bad

[ripe steppe]

Cool, cos less than that and it gets borderline not worth cos of gas, (the bigger the bag the better… not financial advice)

[stable linden]

There was a chart posted awhile back about reward claiming intervals that could be changed based on our own investments, is that still around?

[ripe steppe]

As far as I can tell…. SushiLP is better than normal staking in every single scenario except… if you have leas than $1000 to invest, then normal staking is simpler and less affected by transaction fees eating away at chunk

[ripe steppe]

Its pinned in this chat (top right)

[stable linden]

Useful things always are 😅, thank you 😊

[ripe steppe]

👆🏻this message should be pinned on the screen at all times 😂😂😂

[brisk surge]

No. Use the Impermanent Loss/ROI Calculator in the pin. You will see that just hodling has been more profitable the last months (for example start 1 June) than being an LP. Play with the numbers. The thing is that you don't want one of the assets to breakout more than the other, which ILV has. This is just vs holding, so not even vs staking.

It includes the fees but it is still worse

The ultimate bull play is one-sided staking

[ripe steppe]

Thats because the token was literally just released back then, no way it wont have volatility

[hazy token]

Debatable. The ultimate bullplay could be setting up a staked SLP passive income for years to come

[ripe steppe]

Heck maybe it gets a bit volatile over the next few months, but overall idk i really think if ur getting in right now SLP is the best route for above $1k investments (maybe not from the start idk)

[ripe steppe]

100%

[brisk surge]

You can probably calculate it with assumed fees and rewards where the equal point is. Both options are pretty good though

[ripe steppe]

Stormi chip into this debate if u can 👆🏻👆🏻👆🏻. Whats better long run normal staking or SushiLP?

[manic spindle]

I don't have a crystal ball either, sorry. So many variables especially with new tokens unlocking by end of march. What people should consider in general though is that Yield Farm rewards from these two pools only last a total of three years and they do decrease by 3% every two weeks. In a bit less than 3 years from here, RevDis is what will remain as rewards for staking hopefully for many years to come.

[fading nexus]

When rev-dis is high enough, it don’t matter where you stake, you’ll be happy every month 😉

[ripe steppe]

RevDis, as far im aware 80% of it goes to SushiLP, 20% goes to normal stake pool

[manic spindle]

No, that is true for Yield Farm Rewards. RevDis does not consider pool weight. It considers ILV amount and then token weight 🙂

[ripe steppe]

!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.

[manic spindle]

See also: #🥩〕staking message

[manic spindle]

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

[hazy token]

would that consideration for ILV amount take into account just 50% of SLP stake then? In the sense that only half of a pool is ILV

[ripe steppe]

Ah so its evenly distributed, only amplified by weight regardless of normal pool or SushiLP 👌🏻thanks

[manic spindle]

To my knowledge the actual amount of ILV is relevant yes (which in case of Impermanent Loss could be even less than 50%). See the message from Aaron I linked above. He also talks about "how many tokens are in each of the pools" which to me would mean ILV.

But maybe @median canyon could quickly clarify it.

[ripe steppe]

🙈 my bad, didnt know

[neon isle]

Is the APY on the SLP based on the slp token you have not the ILV you put on the LP?

[brisk surge]

SLP token value to what ILV/ETH is

[neon isle]

oh i see

[ripe steppe]

APY is based on the Value of the SLP which is the value of both the ETH and ILV in the SushiLP, so if you have $500 ETH, $500 ILV in the SushiLP, then your SLP is worth $1000 and you earn APY on that $1000, all APY earned is earned in ILV (or sILV) - not in ETH

[ripe steppe]

Hope that helps

[faint seal]

So If I stake 1 LP at 600% APY, after 12 months I would have 1LP and 6ILV?

[ripe steppe]

No, if you stake 1SLP that is currently worth around $2300, if the price of SLP stays the same and you earn 600% the whole year then you will earn $13,800 worth of ILV after 12 months (price fluctuations obviously affect these numbers but u get the gist)

[faint seal]

And would that be the same for the ILV pool? Thanks for the detailed explanation!

[ripe steppe]

ILV pool is more simple, lets say u stake 1ILV for 1 year at 80%, by the end of the year you will have collected 0.8ILV in rewards (if you collect rewards in ILV then they are automatically staked for an additional year so your rewards will also earn interest, so it does stack up) (if you collect in sILV you can use it straight away but only usable in the game)

[ripe steppe]

SushiLP imagine it as being the top daddy, and then all those rewards go into staking for a year in normal one, and then the rewards from the rewards also staked in the normal one, and on and on until 3 years finish, and after that still APY from in game revenue distribution (revdis for short)

[neon isle]

that helps a lot thanks

[faint seal]

Great then, thank you for your help!

[humble venture]

Sorry getting confused how the staking thing works for ILV

[open steeple]

Hey guys, what are the biggest factors when it comes to the apy for the slp pool? It reduces 3% every week, the more people get in the more it will go down right?

[silver nebula]

Yes, rewards are set but split between your share of the pool. Given many people lock is it almost guaranteed to go down significantly both because of the 3% and much more because total locked value increases

[open steeple]

Its hard to predict where it is going, im new to this but never seen such cool struture

[floral scroll]

swapping my eth to ilv was only $23 but to stake in the ILV pool is over $70, is this usual?

[mint cave]

yes, a swap is a less complex contract interaction than staking is

[obtuse tulip]

will there be a difference if I buy ETH now at its current price, or wait for ETH to go down before entering? I think it's about to go bearish and I wanted to wait for the dip but my dilemma is if it does go down, the price for ILV would have pumped by then.

[floral scroll]

Guess im gonna need to buy some more ETH then

[lilac coyote]

In my personal experience it is very hard to time the market. The long term effect of 5% entry price either way is probably quite small. Also you would be timing a lower ETH price but then trying to time a more favorable ETH to ILV conversion.

[open steeple]

One thing, the more the diference between the two assets in the LP the bigger the IL will be?

[obtuse tulip]

So how did you go about it?

[gloomy gazelle]

!staking watch the video linked at the bottom of the next message

[woven ibex]

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

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

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

[brisk surge]

I haven't tried claiming since the eth update and metamask being weird (telling me to pay gas at +30% what gasnow.org recommends)

What are you all claiming at these days? Will I be okay to put in a tx at 23 gas, will it fail?

[ripe steppe]

When u stake its 50/50… from that moment the ratio will change, it can return bqck to 50/50 as they both fluctuate in ratio to the other. ……. Impermanent loss is not permanent, the bigger the difference the bigger the IL, 40/60 will be less IL than 20/80 which will be more IL, the loss only becomes perminent when you actually withdraw your ETH and ILV from the SushiLP, which could be years down the line if you so choose (by which time however much IL you do end up realising, it will be highly insignificant compared to all the rewards you have claimed staking it all that time,

[ripe steppe]

Either wait till the gas fee is low enough to justify the amount you are claiming, or wait till the reward your claiming is large enough to justify the gas fee

[lilac coyote]

I just buy ETH market spot price whenever I want to and convert to ILV regardless of price. For me, I don’t try and time entry in long term investments. However, more experienced traders do place value on timing entry and exits. Everyone should take a personal approach to investing.

[gloomy gazelle]

#🥩〕staking message

[ripe steppe]

Same, unless ur an experienced trader thats super into timing dips and technical analysis, as long as its a long term investment doesnt really matter if you get in at $480 or $520

[gloomy gazelle]

@brisk surge there are a lot of great things pinned on this channel

[ripe steppe]

Better to get in, than kick yourself for tryna outsmart the market …… “Time IN the Market is more important than TIMING the Market”

[open steeple]

So for a investment of 3k to 5k$ claiming 1time/week or month on the slp, since im investing long term till 2024 the fees are kind of irrelevant ?

[tacit timber]

i bought $7k of ILV at $470 and staked in single pool. This is a big amount of my portfolio. You still feel topping up at >$500 and adding to staking pool is worth it? Will the APY increase once pool gets revenue from the game?

[ripe steppe]

$3k+, claiming monthly or 1.5-2months, long term till 2024, in the SLP lock…. ETH withdrawal fees along the way are almost like a small meaningless expense for you to ‘upkeep’ your investment (also fees will eventually be falling to very low prices once ETH2.0 comes out in the next year or so, not sure ETA) (and anything lost through impermanent lost is also irrelevant if all above is true)

[silk lance]

So you Stake, and when the apy drops from more people staking will it eventually be a super small apy?

Whats Illuvium to do with Smooth Lobe Potions?

[ripe steppe]

Yes, in game revenue, 5% of ETH spent on illuviDEX, 10% of ETH spent on in game wagering, all of this will be taken out, used to buy ILV tokens (which will increase buying pressure increasing value of ILV longterm) and all of this ILV purchased is then all given as APY for stakers (equally distributed to both ILV and SLP stakers)

[silk lance]

Thought it was 100% rev distribution not 15%?

[ripe steppe]

You can stake ILV and ETH in Sushi Liquidity Pool, which gives you SushiLP token (SLP) (not the axie stuff lol) which you can then stake on Illuvium.io to earn APY

[manic spindle]

100% of revenue the DAO generates is distributed back to stakeholders, yes. But where that revenue comes from is obviously different in some areas. In game fees like travelling, curing shards are 100% revenue. For wagers in the leviathan arena the DAO takes a 10% cut. Sales on the IlluviDEX mean a 5% cut for the DAO 🙂

If the DAO would take 100% revenue from IlluviDEX sales, how would players be able to generate anything of value? 🙂

[lilac coyote]

In any investment scenario minimizing fees is one of the priorities to maximize long term returns. In crypto in particular because you are spending ETH. I’m bullish on ETH long term so the $ figure of fees may be substantial, particularly in retrospect

[silk lance]

Dao = Direct Asset Owner?

[ripe steppe]

Will also go up because of that ETH being used to buy ILV, which will all then be given as APY…

[manic spindle]

Nope 🙂 you might wanna read this: https://docs.illuvium.io/whitepaper/dao

[silk lance]

Thx sorry I havent been sleeping well. Feel like a Rabbit with a turtles brain... moving fast thinking slow

So Im curious on long term, whats better, staking ILV or buying land?

[foggy bane]

for a budget of $5k. does it make sense to stake in slp compare to ilv pool?

i have read through it about staking and seems I am not clear about it...

[gloomy gazelle]

I think so. But just know your gas fees will end up being 3-4x as high. It’s just how it works. So save plenty of ETH to pay for gas.

[brisk surge]

I only have 0.5 ILV. Any suggestions. Thanks

[foggy bane]

higher compare staking in ilv pool?

[silk lance]

Best way to buy ILV via coinbase? Buy eth and use Uniswap?

[gloomy gazelle]

Correct

[gloomy gazelle]

!buy

[woven ibex]

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

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

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

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

[gloomy gazelle]

!swap

[woven ibex]

You can buy ILV here: https://app.sushi.com/swap?inputCurrency=ETH&outputCurrency=0x767fe9edc9e0df98e07454847909b5e959d7ca0e

In the swap from section, select which cryptocurrency you would like to trade for ILV. ETH is the main pairing and there will be a slight additional conversion fee for other tokens. Click swap, then confirm swap and a new window will come up in your wallet / Metamask. It is recommended to increase the GWEI a little so your transaction gets through. Optimal GWEI can be found by checking the Gas tracker bot in the discord member list and by checking historical gas prices here: https://etherscan.io/gasTrackeristoricaldata

Go to https://www.coingecko.com/en/coins/illuvium and copy the contract address which is 0x767fe9edc9e0df98e07454847909b5e959d7ca0e. Click on metamask, scroll down to add new token. Click custom token, paste the contract address there and confirm.

[silk lance]

@woven ibex thx

[gloomy gazelle]

Moz is just our bot doing as he is told.

[rancid arrow]

🤣

[cunning forum]

Even bots deserve to be appreciated lol