🥩〕staking

[manic spade]

I made a lot of error and spent like 750$ in all the transactions and now my SLP is worth 306$ only....don't know if it will be covered after 12 months or not

[cyan rampart]

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

Summary: AAA game, P2E, good tokenomics, good team, market has potential for massive growth.

[fresh basalt]

great thanks!

[foggy bane]

I guess we need a FAQ on this staking to avoid beginner mistakes. eg tutorial video to do staking etc

[ruby ridge]

aye, like a layman explain to me like I'm 5 guide lol

[manic spade]

I am not able to post pics here....but i had to approve my ILV spend limit like 2 times for 10 & 14 dollar gas fees... don't know why

[clear cape]

I think that happens for the first time you do it

[manic spade]

After that SLP approve limit was also approved for 18 dollar gas

[ruby ridge]

I've learnt much about swapping and staking thanks to Illuvium as well as burnt money 💸 from mistakes lol

[manic spade]

Contract interaction itself was 134 $, i think you should invest if you have large sums of money...limited budget people like me shouldn't do it...lol

How much do you guys think i can earn from 0.12 SLP staked for 1year?

My Total pending rewards after investment since yesterday are - 0.01 ILV-$2.95

And when i go to rewards, it is 0.0059 ILV, why is there a difference in the 2 values?

[clear cape]

Yeah bro honestly SLP is more for people with bigger bags, which you have realised now.

How much is 0.12 SLP in USD ?

[manic spade]

305$

[clear cape]

You should be ok bro, i think you will make back $305 and maybe another few hundred. The delay will help as it will get keep apy up for longer

[manic spade]

but will i be able to recover the 450$ i lost in the process?

[cyan rampart]

The rewards # is correct (.0059), the general dashboard does some rounding.

[manic spade]

Also, 305$ is mine right if impermanent loss doesn't occur after 1 year, i can take it out... & it will convert back to ETH & ILV right?

[cyan rampart]

Yeah, you can trade your SLP token in for ILV/ETH at whatever ratio the pool is at in a year.

[brisk surge]

[manic spade]

So, if the ILV value goes up after game's release, then i will get back the same amount of ILV i invested in SLP or more/less.

[cyan rampart]

https://dailydefi.org/tools/impermanent-loss-calculator/

[manic spade]

Thanks!!

[brisk surge]

How come APY is going down so quick?

Was this not supposed to be only 3% bi weekly? Its more like 10+%

[fresh grail]

More people are adding to the pool and rewards claimed from the SLP Pools goes to the ILV pool.

[brisk surge]

There are not more tokens in circulation so it should be stable?

[cyan rampart]

That's a misconception that some people spread by not fully understanding how things work.

Total rewards distributed decreases by 3% every 2 weeks.

APY is based off total rewards distributed, ILV prices (for SLP), and total value locked in each pool.

So more people staking will bring the APY down, as will ILV price decreases.

[still kindle]

ILV is down 7.2% in 24 hours - that will have had an impact on APY

[brisk surge]

Cool thx! 🙂

Did not understand price was part of the calculation, I thought it was relative to ILV as a denominator. So this is relative to ETH value? or USD value calculated?

[cyan rampart]

NP! The best way to think about it for me is like, let's say there's 300 tokens total per block going out as rewards.

After 2 weeks, that's 291 tokens per block.

Whereas APY is a derived number based on a few different factors. It floats and isn't locked in at any specific value.

[strong wren]

i staked 5ILV (ILV only not pairing) on the core pool and have been gaining ILV untill last week. It stopped and for a good 1 week haven't earn any extra ILV at all. Is this normal? Anyone expericing this problem where your earning just stopped on the core pool?

[cyan rampart]

That's definitely not normal, are you sure you're connected with the wallet you staked with?

Even if the APY drops, you should always be generating some amount of rewards.

[strong wren]

Yes I am connected to the right wallet as I only have one and I was checking it weekly, last week I have earned 0.38ILV sofar and today I checked again and I still only have 0.38

[fresh grail]

You might need to bring this up in the #❓❗〕community-help channel. That's not normal

[cyan rampart]

That's really strange, was your stake flexible or locked? Is there any chance you're not staked anymore?

[strong wren]

I staked locked for 12 months .

[cyan rampart]

I'd definitely bring that to #❓❗〕community-help . Hopefully it's just a UI problem on the website or something like that.

[strong wren]

I thought that was weird as well. Was very surprised this morning seeign the same value. I will bring it up in the help section. Hopefully someone will help me out.

[fresh grail]

Is it reading the same with both the Dashboard and Rewards tab?

[strong wren]

Thank you so much. At least I know something is definitely off

[cyan rampart]

It might be worth pinging Carlos for as well. I think he's the staking master in these parts

[strong wren]

Yes. In the reward tab I shows 0.38
So I went over to the staking tab and click "detail" it says I have 0.38 ILV unclaimed.

[fresh grail]

Are you using the right wallet? As in do you have 2 metamask eth mainnet wallets?

[strong wren]

I only have 1wallet. 🤣🤣

[fresh grail]

haha was worth the ask, just in case 🙂

[strong wren]

I was totally bummed when I saw still at 0.38ILV the same as last week. 😭😭

[proud moth]

You can check your pending rewards in the contract directly in etherscan using your wallet address

[strong wren]

May I know how exactly can I do this? Sorry for being such a noob.

[proud moth]

Which pool did you stake exactly?

[pure shadow]

anybody have any info about staking V2?

[strong wren]

Core pool locked for 12 months.

[proud moth]

I mean ILV or SLP?

[strong wren]

ILV only

[dry hazel]

I am having difficulty staking. I am relatively new to Defi staking and want in on the Sushi LP staking. I cannot figure out what I am doing wrong. I am using Trustwallet... I know MetaMask is recommended but Trust is what I am used to using.

[proud moth]

Go to this link and then go to "contract" section. then click "read" button. Expand the "pendingYeildRewards" section. Then put your wallet address in and click "query". Then it will show the amount of ILV rewards in wei. https://etherscan.io/address/0x25121eddf746c884dde4619b573a7b10714e2a36#readContract

[proud moth]

Have you checked out the video tutorial?

[dry hazel]

Gonna be honest. Didn't know there was one lol. My apologies... still learning a lot here. I'll find it

[strong wren]

It says the following :

[ pendingYieldRewards(address) method Response ]
uint256 : <a target='_blank' href='/unitconverter?wei=384798229970000000'>384798229970000000</a>

I am assuming it say I have 0.38 as well?

[proud moth]

No worries. Check it out here https://www.youtube.com/watch?v=C6YugU4zZr4

[proud moth]

Correct

[strong wren]

So what can I do or who can I ask about not earning additional rewards over time? 😭😭

[cyan rampart]

Just hold tight for now, you should ping Carlos in #❓❗〕community-help or shoot him a DM. He'll at least be able to direct you to someone who can help, if he can't himself.

[strong wren]

I have no idea what happened. Everything looks fine and I am still staking it normally, only that I do not earn any additional rewards for awhile already. I already left a message in the help channel. Anything else I can do ?

[strong wren]

I am allowed to dm him personally? :)

[cyan rampart]

Generally I don't recommend bothering the team with stuff, but having exhausted all reasonable options we can think of, I'd say go for it. I can't think of anything we haven't covered that could cause your issue.

[strong wren]

Okay thank you I left a message in the help channel if no response perhaps I will try to dm Carlos perosnally. Thank you so much for all your help

[fresh grail]

Sorry we couldn't help you solve it. Hopefully it does get fixed.

[strong wren]

Thank you so much guys. Even it's not resolved, I really do appreciate you guys for trying to help me out. Thank you so so much !

[meager hemlock]

Right now its ~63 GWEI for gas its on the low side right?

[forest zinc]

it's on a low side for this week, if you can, you should wait for it to reach below 50 or even 40 you will pay less fees

[meager hemlock]

Judging from screenshot above it havent hit those numbers past week, correct?

[normal night]

hi , i'm new to the game ,and i cannot find full descriptions on the staking part. is there a whitepaper kind of stuffs than kyou

[meager hemlock]

There are only like 4 entries below 50 😕

[forest zinc]

on rare moments, those are the average/hour

[forest zinc]

https://www.youtube.com/watch?v=C6YugU4zZr4&t=1s

[meager hemlock]

Does swapping AXS to ETH cost gas?

[proud moth]

Every transaction costs gas

[meager hemlock]

So to stake in Sushi LP pool, I need to:

1. Swap all AXS to ETH + gas
2. Buy ILV with ETH + gas
3. Acquire Sushi LP token + gas
4. Stake on Illuvium website in Sushi LP pool + gas

So 4 times gas will be paid??

[stable linden]

Question for those more experienced in overall DeFi - which site do you prefer or would suggest when it comes to staking other crypto in general?

[kindred merlin]

Hi all, I have a noob question.
When I signed the contract to allow for my ILV to be staked.
It put in a max amount of 2.0 ILV
I staked 1.6 ILV in the normal core pool.
Will this become a problem if my rewards get bigger than 0.4 and I need to vest/claim them?
Thanks.

[proud moth]

You can do like

1. Swap half of AXS to ETH
2. Swap the other half to ILV
3. Acquire SLP
4. Stake

[meager hemlock]

@proud moth Yes, but each those steps will cost gas, correct?

[proud moth]

I think it will be a problem when the reward grows to 2.0ILV...

[proud moth]

Correct. There will be additional transactions that cost gas too. Like approvals. And you should keep your ETH balance high just in case some of your transaction might fail for some reason.

[ruby ridge]

is $60 - $70 for staking good price for 2 ILV?

[wind walrus]

That sounds about right for the ILV core with gwei at 48.

[ruby ridge]

great, but after I went through some readings with regards to SLP, I'm now more interested to stake in SLP. What's a good price for staking in SLP?

[wind walrus]

Staking SLP will be more expensive and you will need to pay two gas fees every time you claim. I would say between 120-200 depending on gwei for the initial stake and 60-120 for each claim unless gas prices go down

Transation fee = 6.77.

[meager hemlock]

You saying I paid just 6.77$ for gas? @wind walrus

[cerulean nexus]

guys I made a ILV claim from both pools setting 40 gwei since I'm not in a hurry. Is it going to be fulfilled soon or later right?

[wind walrus]

Sushi charges a small fee. You using MM?

[meager hemlock]

Yes

[wind walrus]

If gwei goes below 40 then TX will complete. If not you will need to raise the limit or it will never complete.

[cerulean nexus]

what do I have to increase here in case?

[meager hemlock]

It says success, but I still see nothing changed in my MM balance - #🥩〕staking message

Why this delay?

[proud moth]

Your transaction is the approval to use AXS from your wallet. So there is nothing changed in MM.

[meager hemlock]

This video should help - https://youtu.be/gsfJywNxpi4?t=73
I think you only need change Max fee

[meager hemlock]

What? That transaction was to just allow sushiswap to use my AXS in MM? Nothing else?

[proud moth]

Exactly

[cerulean nexus]

thanks

[kindred merlin]

Thanks for answering,
Do you know how I change the amount of ILV that the contract is allowed to take?

[ruby ridge]

I see.. you have a point sir. What if I plan to leave it for a year locked and unclaimed? I assume it's auto compounded and I do not have to claim rewards and restake right?

[proud moth]

May I change my answer :P i took a look at the claim transaction in etherscan. The rewards never get to the wallet. It just go straight to the pool. I don't think there's gonna be a problem unless you try to stake another time higher than 2 ILV, which it will automatically ask for approval again

[ruby ridge]

so would it be wise to say, increasing the limit to at least 50 ILV for future staking purpose so we won't have to keep paying gas fees just for approval?

[meager hemlock]

Lets say - https://www.gasnow.org/ - slow GWEI is 50 and lets say in MM I input Max GWEI 47? What will happen?

Will the transaction wait a long time and be rejected and nothing is lost?
Could it go through just need some time? 🤔

[cunning perch]

Whenever you wanna stake a new token, you're gonna have to approve it. Claiming on the other hand requires no approval as it comes directly from the website and stays locked in the pool

[ruby ridge]

ah thanks now I get it. and while I lock in say 1 ILV with each stake, it doesn't affect the 1st ILV locked in period right? like a fresh new one. sorry I haven't made up my mind yet hence I'm not sure about the UI and mechanics.
was also getting mixed up, about claiming rewards and having to restake them, hope to clear it up

[gloomy gazelle]

You can wait. But if it’s a swap… there are time out limits. You can lose the gas that way. And not get the transaction processed.

[cunning perch]

Well for your stakes, you decide how long to lock it for. Your rewards on the other hand, will have a new lock time once claim. They will all have different locking periods. Claiming rewards compounds to your stake. So vesting = compounding with a weight of 2X and stung locked for a year

[ripe steppe]

Having 0.1-0.15eth in ur metamask transactions is super safe amount to have, will get all your stakes in with that and have plenty left over for claming rewards in future (which is also a transaction fee but minimal compared to the complexity of staking fee)

Also slp is only worth it if you plan to stake at least $1000 in it, the more you stake the more the transaction fees in comparison become negligible also

[upper panther]

Hi all im quite new to staking, i have decided to put 1.5k, any advices of the best way i cn use this money to stake?

[cunning perch]

!read You can either join SLP or single asset pool. You're the ONLY ONE that can decide which is good. I recommend reading this before staking.

[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

[upper panther]

I see thanks! Im thinking if its worth coverting my money into eth now cause of the gas fees..

[ruby ridge]

Ok, now I have better understanding. thanks!😬

[cunning perch]

Gas has been like this kinda for a long time. You can always come up with a plan. Make sure you understand everything about staking

[meager hemlock]

What you meant by "you can wait" ?

[gloomy gazelle]

Some types of Transactions can be pending for days.

[meager hemlock]

And how long swap can be pending?

[gloomy gazelle]

It depends on the swap service and what timeout you put. (If you edit that advanced option)

[ruby ridge]

I see, I've 2 ILV now (which is worth around $1k) and that would mean I need another $1000 worth of ETH both in my MetaMask, to perform a SLP stake yes?

[meager hemlock]

ok, but I still didn't get clear answer to:

slow GWEI is 50 and lets say in MM I input Max GWEI 47? What will happen?

[gloomy gazelle]

30 minutes is standard on sushi

[steady trellis]

Do anyone know where can i see how many ILV are going to be given to stackers, for each of the ILV and SLP pool (I suppose it's a fix number per 14 days) ? And what are the dates of the 3% reduction ?

[meager hemlock]

@gloomy gazelle screenshot 👍 Love when people put visuals in.

[alpine vault]

The transaction will sit as pending until the gas price goes to 47 or below. For staking or claiming rewards that's fine if you don't mind waiting. Some transactions, like swaps, will time out though.

[gloomy gazelle]

Exactly. Because it depends on several things.

[alpine vault]

Also, note you can only have one transaction at a time, so you can't do anything else while your transaction is pending.

[south relic]

uhm i new here and low spender, just got 1 ILV and wanted to stake it but the gas fee makes it akward it s like 150 dollars atm
any advice ?

[umbral crane]

Guys why is apr dropping when ilv is being sold shudnt it go up

[manic spindle]

1 ILV might not be worth staking unless you wait for lower gas and consider to stake long-term with a 12 months lock for 2.0 token weight. Otherwise it might make more sense to accumulate a bit more first and then stake that all-together 🙂

[meager hemlock]

So basically, correct me if I wrong, by inputting GWEI lower than on https://www.gasnow.org/ the transaction will wait until the my inputted GWEI is same as it is on the site above? 🤔

And if it dont reach it in few hours? then it just rejects and nothing is paid anywhere?

[gloomy gazelle]

Which pool?

[manic trail]

Excuse me for the newbie question, but can you give a definition of " 2.0 token weight" ?

[umbral crane]

Slp pool is 580 now but i expecte dit to go up

[gloomy gazelle]

But either way when more value is staked in a pool the APY goes down.

[manic spindle]

Token weight 2.0 means every 1 ILV you have staked counts for 2 ILV when it comes to rewards calculations 🙂

!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

[umbral crane]

But theres less value now.

[gloomy gazelle]

APY goes down when ILV price goes down.

[manic trail]

So basicly 2.0 Token weight means 52Weeks lock right ?

[manic spindle]

Correct 🙂

[umbral crane]

Ye but why lol doesnt it gondown when ilv@price goes up as well cuz more bought and then staked

[gloomy gazelle]

Less value becuase the ILV on the SLP tokens imholds less value. But it’s even more important to the rewards value. Since that is 100% ILV not just 50:50

[ripe steppe]

Anyone know whether ILV price going up or down would affect APY and in which direction it would affect?

[umbral crane]

So if the price tanks to like 300 the apy gunna go to shit?

[gloomy gazelle]

APY will often go up as ILV price goes up. The value of the rewards pumps harder than the value “locked” in the staking pool

[umbral crane]

Hm ok i thought it was the opposite

[gloomy gazelle]

Only if ETH outperforms ILV

Hypothetical: If I have $100 of SLP staked and there will was to be 1 ILV given to me each yeah because that’s the percentage of the rewards I deserve… the apy (based on usd value) goes up when the value of that 1 ILV goes up (or vice versa)

[meager hemlock]

You can lose the gas that way.
Btw how much gas we talking about?

I'm going to swap 9.6 AXS for 0.222 ETH which is ~703$

[gloomy gazelle]

!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

[gloomy gazelle]

Uniswap Swap $47.38 $47.38 $47.38

[meager hemlock]

Would that be same amount of gas if transaction would be succesfful or tiny amounts of gas?

[umbral crane]

Hmm i think i see thanks

[alpine vault]

Yes, that's the general gist. For staking or claiming rewards, it'll sit in the queue for as long as you're willing to wait and will go through when gas is cheap enough.

[meager hemlock]

@alpine vault It can wait week if needed to?

[alpine vault]

Why would APY go down when ILV price goes down? Isn't the APY denominated in ILV?

[gloomy gazelle]

No it’s USD value.

[alpine vault]

Yes.

[gloomy gazelle]

When you stake SLP and get rewards in ILV you can’t use a direct ILV to ILV comparison (like you can in ILV only pool). It’s apples and oranges.

[alpine vault]

Ahh, yes, got it. I think of the APY as the ILV received, not the dollar value of the rewards.

[meager hemlock]

So there is no real reason to actively check https://www.gasnow.org/ to try catch low GWEI if you can just input in MM advanced controls Max GWEI whatever you feel it can reach lets say in weeks time?
Am I missing something here? 🤔

[gloomy gazelle]

It’s the dollar value of the ILV you will receive. That’s why apy for SLP pool fluctuates so much with changes in ILV price.

[manic spade]

don't know the mechanics but i lost nearly 150$ due to changing the max GWEI manually yesterday....as the transaction failed after sometime

[meager hemlock]

@manic spade Wait.. what? You lost 150$ and transaction didn't even get approved?

[manic spade]

yep

[gloomy gazelle]

Yes. But not for swaps. Swaps will time out. As will certain other transactions. But not claims in the illuvium pools. One thing to note is that if a transaction is pending then your wallet can do no other transactions until it is processed or cancelled. I’d recommend using this site so you know what the gas trends have been… https://etherscan.io/gastracker#historicaldata

[gloomy gazelle]

Yeah if transactions fail you lose the gas.

[gloomy gazelle]

Be sure to not mess around with the gas LIMIT. Max gwei can be tweaked occasionally

[meager hemlock]

Why would transaction fail though? Shouldn't it be pending forever ?

[manic spade]

there are more...lol

[gloomy gazelle]

It depends on the transaction. I think some can be pending for a long time. But not all

It’s a contract thing I’m sure

[meager hemlock]

I'm thinking about to set this field - https://youtu.be/gsfJywNxpi4?t=121 - to like 45 or 40 and let it be pending for whatever time it needs?

Do I risk lose money like @manic spade lost?

[gloomy gazelle]

What kind of transaction are you trying to do?

[meager hemlock]

Right now, I'm specifically talking about adding to my Sushi LP stake another SLP

So that will automatically claim rewards gotten so far

[open steeple]

Hi guys, just one though, we are all in a bullmarket rn, and it seems it will likely end in this year or begining/middle of 2022, so ween we start to get the rewards until 2024 will this be a problem for our profits beeing in the middle of a bearmarket? could the price of ILV and ETH both drop compared to what we are buying and staking now?

[alpine vault]

Is that what the APY for the ILV pool means too, or is the APY for the ILV and SLP pools calculated differently?

If it's different, it feels like that should be denoted in the UI somewhere. It's a bit confusing to use the same terminology but with different definitions.

[gloomy gazelle]

So you already have your SLP tokens in your wallet and want to do some staking pool interactions.

Yeah those could be pending for awhile.

The risk will be in the timing. Since there will be the ILV pool rewards claim transaction and then the SLP rewards claim transaction and then the deposit transaction. If those three things don’t get processed together in a short span of time (maybe in a few days from now but all five in a few minutes) then there is a chance your deposit is not made. And you need to do it again. SLP staking is complicated.

[granite halo]

There is definitely a possibility that ILV could go down from what it is at this point, and that is because the supply will be increasing as the locked ILV unlocks.

The thing that will determine whether or not you lose from the initial investment is whether your return in staking rewards creates more value than what your initial investment was.

[gloomy gazelle]

It’s dollar value as well. But since the value of ILV tokens in deposits and ILV tokens in rewards are identical it doesn’t matter.

[meager hemlock]

then there is a chance your deposit is not made
and if that happens then I will 100% lose some gas for just trying?

[gloomy gazelle]

Have you gone through rahlord’s tutorial video? The second half talks about the staking part.

Basically yes.

[final steppe]

Pretty much-- it's usually recommended to INCREASE your GWEI to ensure the transaction goes through ASAP and you don't risk losing your ETH to a failed transaction. If you don't have the funds to cover that increase, it may be safer to wait until GWEI lowers a bit. Better to pay a little bit more in gas to make sure the transaction goes through... than to pay 1 gas fee, have the transaction fail, then pay another gas fee to try and get it to go through again.

All depends on your risk tolerance, I guess!

[open steeple]

so as long as new money keep coming is that suppost to cover the increasing suplly as the ILV keeps being unlocked?

[meager hemlock]

@final steppe @gloomy gazelle So its actually recommended if https://www.gasnow.org/ GWEI is 60 to put something like 62 to ensure transaction 99% is successful? 🤔

[gloomy gazelle]

It does. But the percentage of change in total value locked compared to the percentage of change in the value of rewards that effects SLP apy is going to be lower.

[granite halo]

That is anyone's guess.

[final steppe]

Sometimes even more depending on how many people are processing transactions on the ETH network at that time. If GWEI is at 60, and you submit your transaction but then tons of other people also submit transactions on the network, it pushes the GWEI higher and out and above the GWEI you set.. to 65, 70, 100... just depends on the traffic. Then your transaction doesn't get processed until GWEI returns to the amount you set

[meager hemlock]

But from earlier

The transaction will sit as pending until the gas price goes to 47 or below. For staking or claiming rewards that's fine if you don't mind waiting.
#🥩〕staking message

And this:

The risk will be in the timing. Since there will be the ILV pool rewards claim transaction and then the SLP rewards claim transaction and then the deposit transaction. If those three things don’t get processed together in a short span of time (maybe in a few days from now but all five in a few minutes) then there is a chance your deposit is not made.

Doesn't they contradict each other?

[ruby ridge]

Hey, I've attempted 2 purchases of 2 ILV at different times. All I can say is, you gotta just try it. What I did was basically monitoring the GWEI until it was comfortable for me to make the swap. about $20-$30 was my threshold. both transactions got through about a min and I did not touch or edit any of the default settings in MetaMask. Just sharing my experience.

[meager hemlock]

What GWEI is $20-$30?

[ruby ridge]

sorry, gwei was 40-60, in dollar was $20-$30, yes, I literally timed it and glued my eyes to the monitor reading all of Illuvium Discord while at that😆 @meager hemlock

[steady trellis]

Guys is there any detailed calendar with quantity to be dropped and exact dates ?

[open steeple]

so just to be clear because its my first time staking, i will never loose my staking coins? i can loose money because of the value of it flutuates, but and the end of the staking i will always get the coins i put into it right?

[ruby ridge]

@meager hemlock here you go... this is just swapping ETH to ILV ya, not staking yet

[open steeple]

in this case i will always get ETH and ILV

[true spire]

Is this graph on a weekly or monthly timeframe?

[alpine vault]

In theory if all three are using the same gwei price they'll probably all go through. It's not guaranteed though since they're separate transactions.

[meager hemlock]

@true spire X-axis is fortnight which means "every 2 weeks"

[true spire]

Yes, you will not lose your eth and ilv. They are only locked for a 12 month period

[steady trellis]

2weeks

[manic spindle]

If you provide liquidity via ETH/ILV then you could lose tokens due to Impermanent Loss if one of them increases much more than the other: https://academy.binance.com/en/articles/impermanent-loss-explained

If you stake ILV only, then you cannot lose any ILV, no. Only price drops could affect you then 🙂

[true spire]

I learned a new word today 😅 thanks

[meager hemlock]

3 transactions? 1 is for claiming rewards and 2nd is for restaking; where you getting 3rd?

[final steppe]

See Stormi's message above. Staking in the Sushi LP pool puts the staked tokens (ETH/ILV) at risk of impermanent loss and you CAN lose some of those tokens you originally placed into the liquidity pool.

[alpine vault]

1 for claiming ILV rewards, 1 for claiming SLP rewards, and one for staking. It would be two if it was only ILV pool.

[open steeple]

i alreadyy seen some content on IL but its kind of hard to understand for a noob =), will try to get more information

[final steppe]

If you don't mind me asking, why do you feel that way at this point?

[next ruin]

I think you'd have to have a large bag and be claiming rewards / compounding REALLY often for this to possibly be true. I staked a small amount in SLP less than a month ago and already have more rewards than I would have had in a year just in the ILV pool.

[open steeple]

For what im reading in binance academy about IL so if ILV price 5x and ETH lets say stays the same in a year from now and i withdraw my liquidity i will have a 25.5%IL on my investment?

[digital kindle]

No exact date and quantity afaik but you can approximate given that staking started July 1st: 100k ILV the first fortnight then 3% reduction every subsequent fortnight

[eager rover]

Try using this calculator #🥩〕staking message

[open steeple]

so since my rewards for the SLP pool in ILV go to the ILV pool there is no IL in there right? i can only have IL on the tokens/investment part that i put into the SLP pool?

[abstract crown]

Correct, IL can only occur in an LP pool. Since the balance between the two tokens must remain the same (in terms of initial USD investment). So if ILV 5x as in your example. The number of ILV in your ILV/ETH pairing will go down and your ETH token will go up to maintain that balance.

[trail mountain]

The steak emoji definitely apropos for this channel. We all gonna be eatin' good in the future! 🚀

[elder dawn]

Since we constantly get Impermanent loss questions here, I wrote a few more Illuvium pool specific articles on the topic for beginners. Part 1 & 2 are out, with specific scenarios in Part 3 coming out tonight. I'd love feedback and hope this helps people understand IL better. Seeing the calculators is one thing. Understanding why may help people actually get it.
https://www.publish0x.com/ilvfi/what-the-dollar-and-is-impermanent-loss-and-why-do-i-care-il-xnxkekg

https://www.publish0x <dot> com/ilvfi/impermanent-loss-visualized-xwwevvx

[open steeple]

one more thing, each individual stake has in own IL right?

[elder dawn]

its all about your initial ETH/ILV price ratio and the current ratio or more importantly the ratio when you sell your SLP.

[wind walrus]

If you never sell there are no worries 🙂

[steady trellis]

Perfect, @elder dawn that’s what I think would help the simulation

[hexed roost]

Nicely done mate, very comprehensive and big effort.
This definitely deserves a pin as it directly relates to the ILV/ETH SLP pool.
Can someone make this happen?

[elder dawn]

i appreciate that. we can add this to the list of "go read this and then come back with your questions" tied to this project and staking. 😉 my next planned one is to answer the question "should i invest in Illuvium?" that should be fun, and totally not what people want to hear when they ask that.

[warped anvil]

Hello. I'm new here and I'm super exited about this game! My question is about sILV. If I choose sILV as my staking rewards, will I be able to transfer them back to ILV and out of the game, into my Metamask?

[hot lynx]

No

[manic spindle]

!silv sILV goes directly into your wallet when claimed 🙂

[woven ibex]

sILV is a substitute currency that can only be gained as yield when staking ILV. In game, it can be used to pay for any fee (excluding IlluviDEX trades and Leviathan Arena wagers) that otherwise would be paid for with the main currency ETH. The value of sILV in the game - and for possible sales where sILV is allowed - will be equal to the value of ILV.

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

[warped anvil]

thank you for the clarification

[hexed roost]

Well deserved and timely too for me personally, my son is at Uni and will be a Quant Trader has just scored an internship. He is just getting into crypto (necessary as hell be trading it) this just saved me doing the work which would take hours 😉 . I like getting involved in his quant stuff but now we can have a beer or two rather than sit at a desk together. 🍻

[left hinge]

I'm getting a gas cost of 140.00 usd to stake 2 ILV is this normal?

[manic trail]

Staking means running a smart contract on the blockchain wich requieres you to pay gas, so yes, this is normal, gas fee varies depending on demands, you can use gasnow to check gas price

[left hinge]

of course I get that but gas seems to be sitting between 75-80 which is the same as when I bought the ILV and paid about 36.00 worth of gas so just trying to understand, I appreciate your quick response

[manic trail]

It is not the same price depending on multiple factors : Simple transaction ? Running a smart contract (If yes, complexity of the contract may impact the price) ?

[humble crypt]

Hey everyone I have a quick question about staking rewards. Can you get sILV by just staking ILV. Or do you have to put it in the sushi pool to get sILV?

[final steppe]

You'll have the option to claim sILV or ILV rewards from any pool you stake in 🙂

[humble crypt]

@final steppe oh awesome, thanks for clearing that up for me! Now if I can just get my transaction to go through to get ILV I will be in business haha

[mystic vapor]

how to play the game?

[final steppe]

!timeline Hey there-- the game is not out yet! It is expected to arrive at the start of 2022 though 🙂

[woven ibex]

The current estimates are:

• Closed beta in October / November
• Gameplay trailer end of October
• Open beta (launch) on PC & MAC in Q1 2022
• Mobile launch in 2022

Ongoing: Hiring of new Core Contributors, Influencer Partnerships and more

[mystic vapor]

ic thnx

[gloomy gazelle]

This was a good read. Nice work. Nothing jumps out that is problematic. I look forward to the part 3.

[elder dawn]

awesome, thanks for reviewing it for me!

[gloomy gazelle]

I prefer your term. And I stole your graphic. I always type stuff out for this.

Oh the one thing that can be confusing to some is “your” APY. Some folks think they get to lock in the APY rate from the time they join the pool.

But your article was clear on how the Apy is actually calculated and variable so it’s all good.

[elder dawn]

what do you think if it was "your ILV earned today" and "Your current apy" that makes it much more finite in calculation timing?

[neon isle]

The slp value would be the $ value of both your 50:50 eth/ilv right?

[elder dawn]

yes, your current staked value. you can get this from your dashboard or zapper.fi

[neon isle]

@elder dawn your blogs are godly

[gloomy gazelle]

!contract

[woven ibex]

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

[gloomy gazelle]

The SLP token contract can even be looked up manually on etherscan and that pulls the price as well.

[gloomy gazelle]

Yeah maybe.

That would be damn accurate

[elder dawn]

you don't actually need the SLP price to calculate this, just the value of your stake. SLP price cancels out in the math. If your current stake is $1000, just multiply by your current apy, divide by 365xILV price and that should be your ILV earned today

[gloomy gazelle]

And most people should be able to extrapolate how to estimate returns for longer periods like weeks or months.

[elder dawn]

you may be overestimating the capabilities of some people here. 😋

[gloomy gazelle]

Well I almost resorted to name calling but edited it out for mod sake

https://tenor.com/view/buzz-lightyear-no-sign-of-intelligent-life-dumb-toy-story-gif-11489315

[elder dawn]

always the consummate professional.

Updated.

[abstract crown]

Should you put your SLP value as defined by your $USD value, otherwise people may assume you mean the amount of SLP you have staked, which gives you a wildly different number 🙂

Also, just my $.02, but I thought your article was well-written and did a good job at explaining what happens with Divergence Loss

[gloomy gazelle]

Maybe. But that’s what value means.

[abstract crown]

For sure, I could just envision some people being unsure about it.

[gloomy gazelle]

True

[woven ibex]

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

[silver sky]

@elder dawn echoing the others above, really well written and explained in simple terms. Thank you!

[stone sierra]

After the 3 year period and the 3 million ILV have been given out, will the staking continue and the new rewards will be from the in games sales and will they have to be staked to receive the distribution, or will it just go to all ILV holders as an airdrop? Thank you

[mint cave]

as long as there is revenue, and as long as you are staked, you will always receive revenue distribution

during yield farming, and afterwards

[stone sierra]

Thank you!

[karmic saffron]

For collecting ILV on staking where it is locked for 12-month. Does that go directly into the pool as a compound effect during the lock period or jus a lump sum collection at the end of lock?

[manic spindle]

!claim If you claim rewards as ILV you can immediately see them as their own stake under "Vesting" and they will start to compound from the time of claiming 🙂

[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.

[karmic saffron]

Awesome, One more question. Is the lock only for pulling out, not adding more over time?

[manic spindle]

You can always add more if you want since every deposit is staked individually anyway 🙂

You can have multiple stakes in the same pool all with their own (or none) locking period.

[warped anvil]

Hi, excuse my ignorance, but do we also have to calculate the weight in this equation too. SLP Value x weight x APY / 365 x ILV Price?

[karmic saffron]

sweet deal, cheers mate and thanks

[gaunt marlin]

I know it's up for some debate, but is there a recommended minimum bag size to get into the SLP?

[elder dawn]

your apy automatically includes your weight

[warped anvil]

Awesome! Thank you

[frosty pollen]

hi guys, was wondering, if i contribute 1000 into the liquidity pool to stake for 52 weeks locked, does 500% APY mean that in a years time i'd have 5000 worth of ilv at current price?

[elder dawn]

no, apy is dynamic and varied over time (rewards decrease every 2 weeks), and changes with the ILV price and pool population. check out some of the pinned calculators to get a better estimate

[ripe steppe]

But if the apy stayed static then yes you would have 5000…. And its likey not going to drop by a ridiculous amount over the next three months and that APY within 3 months easily should be able to earn back in rewards your initial investment IMO (not financial advice lol)

[frosty pollen]

thank you! deeply appreciated the help

[warped anvil]

Same! All this info helps so much. I'm nervous while getting ready to stake SLP, but this opportunity just seems so great

[brisk surge]

SLP pools gives opportunity to people without a ton of money to accumulate ILV early which is why I love it.

[ripe steppe]

Yeah in the crypto space its a necessary skill to be suspicion, especially when something sounds too good, i too was at first unwilling to put into SLP because if its that much APY something myst be wrong lol, did about 5hrs of deepdive research (asked loads of questions on discord… the community here is super helpful) and the deeper ive dug the more sound the tokenomics are, the teams great, community is great, all the incentive structures bind the leadership and the players and stakers all in the same direction, its just as you put it a great oppertunity

Im now half a week in and im starting to run out of assets I can stake 😂

[uneven stone]

Does staking on the SLP cost the same gas as on the ILV core pool?

[elder dawn]

no, it costs a decent amount more. double-ish, claiming also costs more

[wind walrus]

No, it will cost more. It will also cost more to claim since you need to claim from both pools

[neon isle]

Do you have to vest your rewards first for them to earn revdis?

[warped anvil]

It will be interesting to see how it all shakes out, after a year of staking. I'm going to keep track of my gas fees and subtract it from my final yield... that could be slightly depressing LOL

[mint cave]

i believe so, yes

if you meant claim*

[manic spindle]

Claimed ILV that are vesting get RevDis, but you have to claim them. You don't need to wait for them to unlock 🙂

[neon isle]

thanks!

[primal coral]

Okay, a question. I want to stake my 3 ILV. The gas fee is 90-140 dollars for 3 days now. Is it normal? Should I wait for lowe gas fee?

[cunning perch]

Gas has been high after EIP-1559 went live and also due to the NFT minting going around. These days if you get it at 30 GWEI you're lucky. So for now, this is normal. You'd better devise a plan and know when to swap/stake. Also in weekends it tends to be lower, but no guarantees

[abstract crown]

Yep and "lower" is typically 45ish GWEI, so nothing super low

[warped anvil]

You might need to stake in the middle of the night )depending on where you are in the world). The gas fees have been going down a little bit while a lot of the western world is alseep

[elder dawn]

i like gasnow.org for their table of the past week - really only dropped below 50 for Fast a few times recently. Its scary, but i've started checking gas prices in the middle of the night when i wake up just to see if i should go claim.

[cunning perch]

Well, that's a hit & miss really. Gonna have to sacrifice your sleeping schedule. I would wait to claim when I have 2-3 times more than I had before gas was high. Maybe miss a bit of APY, but unless you have a lot of ILV, then it really wouldn't matter anyway.

[primal coral]

Hm, thanks for your response. I'll try to wait a bit for few more days. I'm from Europe so US night works for me

[elder dawn]

i'm working on a big claim calculator update that determines your optimal claim timing based on average gas cost, projected ILV compounding interest, and percent of value you're willing to commit to gas. i think it may change how a lot of people claim if they apply it.

[warped anvil]

hell yeah. Sign me up

[cunning perch]

Well, any help is def appreciated. 😉 if everyone contributes to the community like this, it'll be bulletproof.

[brisk surge]

When setting a maximum “gas limit” in my wallet there’s like a 5 digit number, it’s higher than I want to pay right now. Am I able to lower this limit and leave it over night hoping for the Gwei I’d prefer?

[cunning perch]

Gas limit helps the transactions to go faster and have a better chance of succeeding. You pay more $, but the chance of rejection or running out of gas will be lower. You can edit it based on your needs. But be careful. You don't wanna lose gas at these prices.

[brisk surge]

How would loosing gas happen? I assume If I were to lower that limit too low so the transaction never actually happens?

[cunning perch]

Losing gas means the gas limit was low and then the transaction is rejected. You lose the gas you piad. Whenever I wanna claim, for example, when gas limit says 250,000, I add another 50,000 or 70,000 to make sure I don't run out of gas. I def pay more, but it's worth it. And I always use fast gas.

[brisk surge]

That makes sense thanks very much!

[cunning perch]

No worries 🙂 happy to help

[wanton nova]

Actually you don't necessarily pay more gas when upping the gas limit. More often than not you don't use all the gas you put into the gas limit. When you have a look at the transaction on etherscan it even tells you how much gas was used.

Because of this the dollar estimate in meta mask is often too high. Always good to check etherscan to see how much you really paid

[cunning perch]

Yes. Still better to be on the safe side. Lost some $ to learn it the hard way lol. It won't necessarily add a lot of $ to gas

[wanton nova]

Not saying that adding 50k to gas limit is a bad idea. It's good in case gas spikes. It might be used but at least it doesn't run out of gas and fail

[cunning perch]

Yeah exactly. Gas is something all have to deal and learn to co-exist with.

[wanton nova]

Yes I guess we are on the same page. Just wanted to clarify that not all of gas is always used 👍

[wanton nova]

My experience with London fork btw is that the metamask estimates are way too high. The few transactions. I did were only ~60% of what meta mask eetimated. Before the fork it was closer to the actual price. But this is just my personal experience from maybe 10 txs

[cunning perch]

Yes MM is definitely taking things higher than expected.

[elder dawn]

agreed, but the results are still higher than they were. $60 is now low for SLP claiming

[cunning perch]

Still 60 is high for my taste lol. It used to be under 20 not a month ago. They're burning gas like being bitten by a hornet

[gaunt marlin]

Would $3-4k be a big enough bag to justify SLP gas prices?

[wanton nova]

Did it for 35 a week ago but yeah those <30 gwei blocks are getting rarer and rarer

[plucky rock]

hi, i'm staking a small amount of ilv to test it out. i selected 1 week staking period. its been a week, do i need to select something to unlock it? I would like to stake it longer but I could select a longer staking period for higher returns

[elder dawn]

it depends on how much you're willing to "lose" to gas. Plan on staking to be $100ish at low gas, and every claim to be $60 based on recent experience. rewards are still nice right now, depending on where you think ILV price is going.

[wanton nova]

In the end its up to you. For me it would be

[wind walrus]

I started with $3400 and then added $5000 more in a week. It was worth it to me but only you can ultimately decide.

[wanton nova]

Hey, welcome. You need to go to the vesting section and withdraw your ILV and then stake it again.

[wanton nova]

Right now - even after the 1 week lock - it's still staked and accumulates rewards with whatever token weight 1 week lock gives you

[wind walrus]

Have you read the pinned info in this channel?

[meager hemlock]

huh?

[elder dawn]

eh, don't worry, it already back DOWN to 500-300

[neon isle]

Would you guys say its a likely possibility that they will make a flash pool with the IMX token?

[ripe steppe]

dunno, dont think anyone knoww

[final steppe]

I wouldn't say it's LIKELY since who knows at this point... but certainly a possibility!

[neon isle]

10-15$ per token is definitely a bargain and it would be a win-win if it can be staked but i guess we'll see.

[ripe steppe]

good question, i would also be interested in the answer @manic spindle do you know?

[gloomy gazelle]

#870290845612507176 is the place to check out if you haven’t already

That’s what I’ve seen.

I remember SLP pool apy being under 600% and going up to over 700% after the big 10x on ILV price

That wasn’t just stakers pulling out either.

@thin osprey watch the video linked below. Or check the pins in this channel.

[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

[thin osprey]

Thank you for the tag, Pelican!!

[rose arrow]

Oh really? I didn't know it can go up like this. I've been logging the daily change, and based on daily drop, I was expecting SLP APY to drop to 100% within 2 months

[ripe steppe]

Sushi LP APY maths (projection down the line)

at 600% APY, for you to get your initial investment back it takes 2 months,
at 500% initial investment back is 2.4 months
at 400% initial investment back is 3 months,
at 300% initial investment back is 4 months
at 200% initial investment back is 6 months
at 100% initial investment back is 1 year

on top of this, all those rewards that are claimed in ILV
also themselves earn APY, even if that goes as low as 20%
thats still a sweet bit of compounding
(shouldnt be going down that low anytime soon anyways but still)

and on top of all this from land sales and when game is released
everything staked get a piece of revdis

and if you also choose to stake (even at 2x weight) all revdis rewards also
than thats another layer of compounding on top

and on top of all this.... ILV token value which is underlying all of this
compounding is itself rising in the long run (regardless of temporary
ups and downs cycles along the way) longterm trajectory is insane

those willing to diamond hand with minimal profit taking over the coming 5-10 years
are in for life changing wealth and owning a piece of the foundations of something grand

those planning to stake for only the first 1 or 2 or 3 years
they too will profit very nicely

#bullish #moon #diamondhands

[clear cape]

It's plummeting

[rose arrow]

would be great if someone from the team can shed more light on how it's calculated.

[rose arrow]

My worry is if I stake SLP, I want to end up with as much ILV as possible. If APY drops too fast (it is dropping fast now), I may not end up with as much ILV as I would if I had stake ILV only and not split it into ETH/ILV

[ripe steppe]

IMO thats unlikely, SLP is an added layer of compounding and considering how quick you get back your initial investment in ILV value which is anyway then staked in ILV pool, with any additional gains after that from SLP being pure bonus (much pure bonus to come) this is not financial advice just my opinion but i dont feels theres solid evidence for my opinion such as those numbers i posted just above

[rose arrow]

Yes I get it. Current APY, and compounding interest is so lucrative. But I will only be able to get the money to invest in 1-2 months, hence why i'm keeping close eye. I might still do it, but trying to guess the outcome

[ripe steppe]

u can always just stake in normal ILV pool, many feel its a safer bet for some reason and makes more sense to them, i feel SushiLP makes way more sense (also if you want to stake less than $1k value then i would say normal ilv pool due to transaction fees making it non viable, but the bigger the bag the sweeter the margin of profit with less eaten by fees )

[rose arrow]

do you know if we get the Sushi rewards as well when we stake SLP?

[ripe steppe]

i mean if you are unable to invest until 1-2 months pass then no need to guess the outcome, just wait, watch and observe, keep asking questions on the discord as you are and im sure you will find the best decision for your position bro, all the best

[rose arrow]

thanks... thing is I'm liquidating some assets to do so 🙂

Will keep an eye. Thanks

[ripe steppe]

as far as im aware sushi transactions for the pool are like 0.3% and those get distributed amongst stakers, it just goes into the value of your slp (but its negligible, just gently helps counteract impermanent loss) (i also feel imperminent loss is also negligible thanks to the insane APY when staked in lock for 12 months in illuvium.io)

[rose arrow]

Yes that's what I'm hoping for

[ripe steppe]

yeah i started out putting what i had on hand and since ive liquidated half of my crypto portfolio lol to put in and the other half ive used as collatoral to borrow usdc also to buy eth and ilv to put in, went from not getting, to dipping my toe, to all in and it took me 5 days to go from dipping toe to all in lol

[rose arrow]

hahaha... best of luck. I'm drooling tbh. I have an amount staked in ILV only.

[clear cape]

SLP is falling down real quick atm, not sure how long it will hold these APY's for

[clear cape]

That's ILV doing a 10x, it isnt doing a 2x anytime soon let alone a 10

[rose arrow]

The ILV APY did go up a bit, about 0.2% since yesterday. So it technically does happen. But not sure if we will ever see it go up s much as stated before

[clear cape]

You talking about SLP pool or ILV core pool APY?

[ripe steppe]

But it aint about to halve either, its just a small dip, obvi time will tell but even if it ends up 300-400% end of year like over the whole time of staking thatd still be on average a very sweet %apy and those gains alone more than double, maybe tripple whatever u started with, i mean were good

[rose arrow]

This little up is about ILV Core only

[elder dawn]

i'm tracking this, the biggest things driving APY are ILV price (positive correlation), we just moved to a new 2 week period with lower rewards, and pool population. The growth in the SLP pool participation has actually been outpacing ILV pool growth, which has been surprising to me. As more people enter, rewards decrease. You can check out my calculator (pinned or on my blog that has pinned entries) to see my projections based on current growth rate.

[clear cape]

Yeah i agree, it's a big if though in my opinion if we can hold 300-400% by then

If so, then of course we are golden

[ripe steppe]

Its unlikely to hit all time high APY again (although we never know just how strong revdis is going to be) but still it fluctuates

[elder dawn]

at current growth rates, I see APY below 100% by end of year. That requires some crazy continued growth, but it's how it's trended recently.

[clear cape]

Yeah i dont see 300-400% holding at this rate lol

[ripe steppe]

Deraji you should stick a link to your blog in your discord BIO

[iron pebble]

Damn APY lowered by a lot since saturday

[gloomy gazelle]

Yikes. That’d be insane. ILV price would look like if that were able to happen. But it’d be a MASSIVE mcap

[clear cape]

At these current rates, how long will it take to fall below 400%?

[ripe steppe]

If it is at 100% end of year, and other day it was 600%, then from now till then it would still average 350%, which is slightly more than a doubling of your investment by end of year if you were to have stuck it all in today,

[rose arrow]

honestly I'm expecting this to have massive mcap.

[clear cape]

That depends on how fast it falls down to 100%

[ripe steppe]

This too is true

[gloomy gazelle]

So the amount of ILV being distributed to the SLP pool is predetermined. How much is distributed to each USD worth of SLP token is based on how many tokens are in the pool. APY is based on the value of the ILV that can be expected as a return.

I’ve decided it’s time to do some math To figure what the price would be for there to be able to be enough SLP for APY to drop to what points. It’ll take me a long time. Because I’m dumb.

[ripe steppe]

4 months is only 8 fortnights which isnt thaaat much, obvi if loads more people pile it will thin out rewards too

[ripe steppe]

PLEASE DO 😘🚀🚀🚀🚀

[iron pebble]

Wait so if token goes up APY goes down? So where's the risk? That's implying ETH doesn't move, right?

[elder dawn]

people in is the biggest factor. growth rate has been 18% per two week period recently, which is a lot of the dilution in APY we're seeing.

[elder dawn]

No - token price goes up, APY goes up. APY is expected return on your current investment in dollars. Since we're rewarded in ILV, the higher ILV, the higher the APY.

[iron pebble]

Oh, okay, thought so. Then what does pelican mean with figuring what the price would be etc, I'm even dumber and english isn't my first language so numbers hard

[ripe steppe]

Whats interesting is that at that rate of growth there hasnt been an equivalent % of price increase, not to mention how many tokens are locked and not being sold anytime soon and all rewards are all also either locked for a year or sILV which decreases total supply, why price no go up

[clear cape]

Not sure what he meant by that either tbh, i didnt agree with it if he is sayingILV would have to be a big market cap for that to happen

[elder dawn]

APY is a little deceiving - it's the metric we're given and its sexy, but the real number I care about is ILV received per day. There are a couple ways to keep APY high for us - either the price of ILV goes up, which I don't care about because I'm in the acquisition phase with no intent to sell, or fewer people enter the pool, or people leave, which does increase my ILV earned, which I do care about. The 3% decrease every two weeks is fixed, so that's just life.

[iron pebble]

I see. So if ILV goes up we do get more but if you're trying to buy more that kinda sucks. But the possibility of people leaving is low as hell, so we're kinda screwed in that sense

[elder dawn]

I just feel like an old man yelling at these damn kids to stay out of my pool. (while explaining to everyone how my pool works and why they should swim). If ILV price goes up, the value of what you receive is greater, but you will actually be receiving fewer tokens as time goes by.

[clear cape]

That's a good thought, didnt consider that APY is a nice sexy number but the # of ILV tokens you get seem to be more important

[elder dawn]

as for likelihood of leaving, its lower for the SLP - the distribution is super binary, where nearly all of the staking is flexible, or for 52 weeks. At best, we could see a 30% drop in the current volume, as 60%+ is already locked in.

[gloomy gazelle]

Exactly

[unique bear]

Hey @elder dawn, does your spreadsheet take into account the Gas fees you would need to pay at the back end when you individually need to transfer the unlocked ILV to $ at some point in the distant future. I've heard that the more times you claim, the more gas to claim rewards, but also the more individual stakings of ILV that are made that will someday be subject to Gas to profit

Hopefully Gas cheaper in future! 😂

[iron pebble]

I just wonder how much more people will actually get in since the token sits at $500, ETH gas fees are stupidly high and ETH overall is expensive too. Shouldn't that make most people doubtful? I guess whales or those with money don't really care. I'm just a poor dude from the thirld world lol

[noble bridge]

i have been doing the same

[elder dawn]

i don't consider backend redeeming yet. Honestly, i hope ETH2.0 is out before i consider withdrawing, so gas becomes reasonable/non-existent.

[unique bear]

Fingers crossed! As a worst case scenario, those who want to assume that gas won't get better, could double those gas fees and see how the numbers stack up, if they are planning on profiting straight away for each unlocked claim

[noble bridge]

your optimism is appreciated but you should prob look at deraji table calculations to get more realistic projections of apy by the end of year and possible risks including IL if the apy plummets

[unique bear]

Delay = current price hovering for a while = more early stakers = lowering API. Only way to battle it is to stake more, which dilutes more and compounds the effect

[noble bridge]

why would delay cause more early stakers?

usually good news is what promotes more stakers not bad news, but this is all conjecture

[clear cape]

I'd say with project remaining at a standstill for a bit longer, it might give more people time to find out the project and get in 'early'. That's how i see it as one way to look at it. But i agree, delay is better than good news for us in terms of staking rewards

[unique bear]

Lower price entices more people, or existing holders to stack more ILV

[noble bridge]

usually more people find out about something because its runs off hype and price increases->than youtubers/social influencers make posts

[noble bridge]

than why has the pool growth rate gone up substantially with the highest price hikes as of recent?

why would 10x price increase promote pool growth thats way out of line?

[elder dawn]

the decay curve is set, so it already slants towards those of us already in to maximize rewards. The delay is a double edged sword - it likely keeps token price more "approachable" so people are less likely to be scared away by price, but there's also no major events to draw attention. It is what it is, I'm just happy to be here.

[noble bridge]

agreed, i still think its better than huge hype event that gets everyone interested, ie:demo release, beta drop

if value investors want to come in after a 10x that dropped not even 10% from its all time high, i am fine with that

[clear cape]

I think trailer would have been worse for us without a doubt

And now we get to wait for a better trailer which is good for us long term, and hopefully by then we would reap a lot of rewards anyways

[fresh basalt]

Hi guys, just out of curiosity if I have $10k usd and assuming I dont need it for the next 3 years, would staking it in SLP give me a significantly higher return than just staking ILV?

[noble bridge]

yeah best case for us is less people interested, stable price, keep on collecting those ilv, nothing to look at here"whistles"

[clear cape]

I think with ILV price movement, it signifies just how strong faith in this project is combined with a lot of tokens locked of course. Barely got affected by a major delay news

[elder dawn]

my theory - better game = more longevity = more rev dis, not to mention hopefully something i want to play. I'm glad the focus remains on quality over cashing in on the current market trend.

[noble bridge]

couldnt agree with this sentiment better

the fact they dont want to put out shit demo, makes me respect them more, because quality is always going to win in the end

[clear cape]

I agree, all of us long term holders want to see a great product. Im happy to know the trailer will be more improved and scope increased, rather than settling with something of less quality

[noble bridge]

everyone prefers a polished product later, than a broken, bugged project early

[noble bridge]

noway to tell unless you can predict the commercial success of the game, I will say SLP has potential for more rewards, with definite more risk

your best bet is to read through the pinned articles,

[ripe steppe]

I mean, literally done that myself, but obviously not financial advice and you gotta figure out how it works first, reading the pinned articles is the best start indeed and then asking questions to fill anything u may have missed, the community is super helpful and always happy to help

Also scrolling up on this chat and going through some of the chats, might be long but also might be an educational journey

[proven mason]

Yes. Flat out yes, due to the % returns involved. The SLP APY is something like 500% right now, and is likely to remain much higher (as in, 5x or more higher) than the ILV pool's % return unless the token collapses entirely. In addition, SLP is also somewhat less risky to hold than ILV alone, as half of its value is from the etherium in the pool. (It's not actually that simple, due to how impermanent loss and shifting amounts of crypto in the liquidity pool actually works, but the point remains that SLP's price action will be a rough combination of ETH and ILV's.)

With all that said, you should absolutely make sure you've read the Illuvium docs and understand for yourself how the game works. There are definitely still risks (most notably, that the token you're investing in is for a game that hasn't released yet, and we haven't even seen gameplay of yet!), and you want to understand them before putting any money down. But with all that said, if you're confident in Illuvium as a long-term prospect, and you have a significant amount of money to work with (10k definitely qualifies), then staking SLP is the way to go for highest returns.

[elder dawn]

The SLP is considerably more risky from a token standpoint. You are tied to both token performances. Definitely check out the pinned posts on it. The rewards are great right now, though that depends on growth of the pool for how long it will last

[noble bridge]

i have to disagree with some of this SLP is way more risky

[proven mason]

I disagree, honestly. Yes, you're tied to both token performances, but I consider that to be an upside, not a downside. As much as I love the prospects for ILV, ETH is a far larger crypto, and one I'm more confident about the long-term staying power of.

[noble bridge]

so to say its inherently better is probably not accurate

[clever swan]

Yeah with slp apy decreasing fast and chances of i loss you could end up with less ilvs than what you started with which would suck but that’s the risk.

[elder dawn]

check out my blog post that will come out tonight. i look at the scenarios with details around the math of impermanent or divergence loss. the one token succeeding and the other going down doesn't prop up your investment, it makes it worse

[noble bridge]

remember if people keep flooding into the slp pool the risk vs reward becomes inherently more risky with less reward and possible more impermanent loss

[clever swan]

We need to make our principal in slp as fast as possible or we could end up with a loss.

[spice plinth]

Depends how early you get in. Ive already farmed double the amount of ILV I put in the SLP.

[proven mason]

Well, yes, but the thing is, the time until you earn back your investment is still very low right now. I've been staked for roughly a month total, and right now the ILV I've earned in rewards is about half of the principal I put in.

[noble bridge]

but he is talking about investing at this point

[spice plinth]

Lost half my ILV that was in it though

[clever swan]

What was the apy then and the lowest you’ve seen it?

[noble bridge]

but this is changing exponentially, and investing last month was very different than it is today

[proven mason]

Honestly not as different as you might think. APY when I started was around 650%, APY now is around 580%.

[spice plinth]

It was probably 700 or so...its stayed pretty steady around 600

[noble bridge]

remember price one month ago was 220

[clever swan]

Yeah if apy keeps dropping like this I wouldn’t stake slp

[proven mason]

I actually got in after that. I wasn't quite fast enough to get everything in before it spiked to the $500 level.

[elder dawn]

no doubt - same here. though you're still tied just to the success of ILV since that's what your rewards are in. In the past month you've also probably seen your daily rewards fall by over 30%, so that's the entry point now, and the risk of trajectory for those joining later. i don't disagree its still probably a good time to join, i just want to make sure folks know what they are signing up for with the slp.

[spice plinth]

If eth would pick up some slack here..

I got in around 50. Admittedly I would be a loooot more cautious at this level.

[noble bridge]

one month ago was definately easier choice than it is today

and theres a real case where it becomes the worse pool, on top of the added gas

[proven mason]

Isn't that how it always is though? The reason we can get massive rewards early is because there's still a lot of risks to the project; you're investing in something that's still mostly an unknown. As time goes on, those risks decrease, and the rewards also decrease proportionally.

[noble bridge]

not much has changed from risk stand point in last month, but the reward has changed precipitiously

[proven mason]

True, but the general public has had more time to learn about illuvium and catch up. We're still early, but more people have found out about ILV since a month ago.

[noble bridge]

check out deraji calculations, mess around with it you will see what we mean

his tables help to be understand scenarios

[proven mason]

I mean, I found out about ILV in the first place because of a coinbase news article, and I doubt I'm the only one. And since then there's been a fair number of crypto youtubers and such talking about the token. All of which is great for ILV, but more investors and the price going up does make it harder/riskier to invest more now.

[noble bridge]

people staking in the slp pool makes it much harder call.

[elder dawn]

exactly.

[noble bridge]

this is pretty much our point, but your initial post said it was absolutely the way to go

thats all we are saying:P

[proven mason]

And I stand by that. The fact that that Illuvium as a whole is at a riskier price level now does not change that I still consider SLP to be the superior pool. (Assuming you're investing enough to not be worried about gas prices.)

[noble bridge]

with gas prices lately i think everyone is somewhat sensitive to them at these prices

[proven mason]

Eh, gas fees don't scale with the amount invested. For most users, sure. A 50$ fee for transactions sucks. But that means a lot more if you're investing 500$ than if you're investing 10k.

[elder dawn]

very good point - for smaller investors, the upfront fees make it rough, especially the SLP staking. good luck getting that under $100 most days

[noble bridge]

if you need to claim weekly for compounding and its two fees

it does actually cut into your profits more than you think

[proven mason]

You don't need to claim weekly for compounding. You claim to compound when the amount in rewards is high enough to make the compound interest more valuable than the gas fee. At current prices, I think you'd want something like $100k in the SLP pool for claiming weekly to be worthwhile.

[noble bridge]

and the fees lately have been much higher than 50$ i was checking all weekend at around 4-6 am

[noble bridge]

check deraji calculations, I dont think 100k is the price point where weekly is best but i am not sure because my investment point is large enough for it be best for me weekly

[echo patrol]

Hello, a month ago I bought 1.37 ilv and I was thinking of staking them. I would like to ask you if anyone knows how much is generated daily by that staking.

[noble bridge]

its variable, and be prepared for gas fees

[cyan rampart]

1.37 ILV over a year at 70% APY would generate .959 ILV in a year.

Daily, that would be .959/365.

[noble bridge]

depends which pool you stake and apy changes minute to minute

[proven mason]

Huh, the gas fees are significantly worse than I remember from a couple weeks back. Wasn't expecting this much activity on the network.

[clear cape]

Right now it looks to be slightly on the lower end at 70 tbh hahaha, its usually like 80-90+

[noble bridge]

this is actually really good atm

[clear cape]

Yeah 50 gwei is a bargain these days

[noble bridge]

it was like 70-90 over the weekends, damn nft minting

[proven mason]

Last time I claimed rewards was at 50 (with 30-ish possible if you hunted for a good time), so it's still a lot higher than back then.

[cyan rampart]

As long as people are dropping 2B into NFTs every month, don't expect gas to improve until shard chains lol

[clear cape]

Lol everyone who got into illuvium a month or 2 ago probably living on cloud nine

[noble bridge]

so now imagine gas has doubled and you pay it 2x in slp it actually does matter

[fresh basalt]

Thanks for all the inputs learned a lot from your exchange, I am trying to assess the potential of Illuvium as a company(or DAO). Based on what is out there it seems to be quite good, but that said there are still a lot of unknowns but hopefully when it gets more solid, the value of the company would grow as what is Axie is at now... crosses fingers XD

[elder dawn]

Happy to help, and this is a really good community, so don't be shy. My fingers are crossed that Axie is just a starting point in size for Illuvium's future. Looking at what the team has outlined, I think this can do a lot better and hit a broader audience than teams of 3x$1000 blobs. 😋

[open steeple]

Yeah, i wanna thank all you guys for the convos for the past few days been reading and learning a lot aswell, on the way to stake some more into the SLP and lets see where this goes, it will be a fun ride for sure

[unique pasture]

This has been such great to read up on and I’m super excited about this game and community. This question may have been answered already but I’m just now working my way through the past messages but if you only have like $200-$500 available to invest is it best to get involved with the tokens now and get involved with the staking before the game launches or wait and start off as a F2P player when the game launches and at the point try get some stakes in tokens? Just wondering what some of the best ways to get involved on a budget before the game launches to have a great experience with the game on launch as I personally can’t wait for the gameplay!

[spice plinth]

@rotund wagon Yea because I got in early and ILV just left ETH behind. It's farmed me more ILV than Ive lost so well worth it. Hoping ETH gets a good run in to balance it back though.

[untold lantern]

It depends on you. You can stake now but be mindful of the gas fee cause its too high. Or you can wait for your budget to rise more before staking. Besides ILV is not used in game. Eth / sILV will be the currency in game

[fiery iris]

I see that when staking ILV in the ILV pool, all ILV rewards are vested for a 12 month period. Does this period start when the rewards are earned or when the initial ILV was staked?

[elder dawn]

The 12 months begin when you claim them.

[fiery iris]

thanks

[brisk surge]

Question

[ruby wing]

shoot

[brisk surge]

Can someone explain what a 580% APY means? So I put in the SushiLP about 20k ILV 20k ETH, and locked it up for a year

In one year when I pull it out, what’s it going to be if it says 580% APY?

The APY is variable and depends on a variety of factors. I would recommend reading up on the whitepaper and some of the medium articles to get a better understanding.

I’m just confused about “APY” is APY returned over the staking period? Or is it a multiple of your initial stake? Assume all other variables are constant - does my initial stake increase when I pull it out a year later

[icy ocean]

it will be 580% gain of ILV, but it is way more complex than that

[brisk surge]

It wont be 580% gain of ILV the yield of ILV staking goes down over the next 3 years

[icy ocean]

it wont ofc , but there are so many elements to explain I dont feeel like typing book

[brisk surge]

The APY is the current yield based on a dollar value. So it is subject to the rate of staking yield as well as the value of the token.

Hmm… can someone who has staked explain what happens to the original stake? I put 20 ILV today - I pull out one year later. Am I pulling out 20 ILV?

[icy ocean]

no

[brisk surge]

Then? Am I pulling out less?

[brisk surge]

Check the pinned messages there are several posts that explain how this all works

[icy ocean]

well, it is all just speculation , but chance that you will get back 20 ILV is close to 0

[brisk surge]

Is APY referring to the “rewards”/yield over the staked period? Or is it referring to the valuation of your initial stake?

[brisk surge]

Buddy if you dont want to do the research to find out how your own investment works youre just gonna have to wait and find out.

[icy ocean]

APY is referred to pools size and pool reward amount

So lets start with pool size , pool size will be how many ILV tokens are inside the pool , pool means just space where all people who participate get to stake

[brisk surge]

I read the pins, makes sense

[gloomy gazelle]

You should read this. It’s great. Maybe just article two. But either way great

[icy ocean]

You own certain percentage of that pool rewards based on how many ILV you got, for example if pool has 100 ILV and 10 of thous are yours you get 10 % of rewards

[brisk surge]

Congrats on your balls of steel to YOLO 40k without doing any research though.

Well, 50k yolo…

As a WoW player, I recognize the value of this transformative mechanic… let’s hope it pans out

[brisk surge]

Plenty of people here are in the exact same trade as you are and theres a lot of optimism around here. I hope its the best and only yolo you ever need.

[gloomy gazelle]

Your deposit stays the same. You will have rewards that slowly stack up at the rate of the APY at the rate of the day. The rewards are locked for 12 months after claiming them.

[brisk surge]

Same amount of SLP token that may be worth more or less ILV a year later.

[gloomy gazelle]

!yf

[woven ibex]

You can yield farm ILV in 2 main pools.

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

[icy ocean]

Now rewards , there will be certain amount of rewards available each year(don't know start date look for table), and rewards will decrease by 3% every 2 weeks

[brisk surge]

I’m just bummed my rewards get vested for a year… so it’s really a 2 year lock

Staggered lock if you pull out routinely

[brisk surge]

There is a handy spreadsheet in the pins as well that will help you estimate how often to claim rewards to maximize compounding considering gas costs.

[icy ocean]

now for all rewards, your first claimed rewards will come out sooner

[brisk surge]

you will probably want to claim weekly i think. Of course DYOR.

[elder dawn]

Started 6/30/21, 100k in the first two week period. We're in period 5, with about 88k rewards distributed in the next two weeks

[brisk surge]

Obviously I don’t DMOR

This is true. Roll a d20 and claim based on the number as a number of days.

[icy ocean]

Now SLP is complicated and really if you already locked , there is no point to explain it to you as you are locked

[elder dawn]

First year of rewards is about 1.8 million of the 3 million ilv to be distributed.

[icy ocean]

on bright side you prob won't lose anything , but whatever you could have made better choices with fixed and going ILV only is another topic and very speculative

[gloomy gazelle]

It’s not. You can claim your rewards as they start to stack day to day

[icy ocean]

one for sure going in SLP on dip was not best choice

[brisk surge]

You can’t claim it, “claiming” leads to vesting for another 12 months?

I claimed some ILV and now it’s in an ILV vested state or pool whatever it is

[icy ocean]

Yes it is staked for 12 months, but you get extra rewards

[gloomy gazelle]

Yeah sure. It’s technically You just vesting it.

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

[brisk surge]

Yeah what we are saying is you can claim rewards throughout your 1 year vesting period. The first rewards unlock one year after you claim them.

[unique pasture]

Thanks for the info and tips. Greatly appreciated!

[gloomy gazelle]

Welcome to a legit long term project that won’t be a pump and dump. Because it can’t be.

[icy ocean]

wish I could throw 50 k and as questions like this , no offense 😄

[brisk surge]

Trust me you don’t wish

[gloomy gazelle]

https://tenor.com/view/hmmm-thinking-batman-gif-14744673

[brisk surge]

Can someone link the calculator? I’ll obliviously eat up green numbers and quiet my anxiety, the link in the article isn’t working

[icy ocean]

Hmm, maybe, you should be k either way , I don't think you are on lose on this, just could have done it better.

[gloomy gazelle]

Which calculator? Impermanent/differential loss

[brisk surge]

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

[brisk surge]

The one that tells me how many Lambos I can afford in 2 years

[brisk surge]

I know you dont like to read but youre gonna have to read the instructions for this one.

[gloomy gazelle]

Lol I don’t know about that one. I’ll see why I can find.

[icy ocean]

there ain't such thing , as soon as you will understand SLP you will understand it is like guessing , you can predict some things but thats just about it

[gloomy gazelle]

@brisk surge @icy ocean that’s enough out of you both. Anyone can come and ask questions. If you don’t want to walk them through go away don’t give them crap.

HA is probably trolling you anyway.

[icy ocean]

what did I do? 🙂

[brisk surge]

lol sorry I was just teasing. I thought we were having a good time

see he laughed at it

[gloomy gazelle]

No worries Just take it a little easy I guess.

[brisk surge]

Hahaha. I’m fine, I’m being lazy… it’s kind of nutty system tbh. Your initial stake never increases is what I’m understanding. At best, it decreases only a little due to IL. What’s growing is the passive ILV being generated as commission; as long as that’s greater than IL, i gained more than HODLing. This assuming not everything crashes

[gloomy gazelle]

https://docs.google.com/spreadsheets/d/1gj_tPlLzAdeReC0Ne9BcxKN2OJ6xK1nl-9JJ2YW0WWI/edit?usp=sharing this spreadsheet probably does some sweet things.

[gloomy gazelle]

Yeah providing liquidity is unique. But the SLP rewards rate should more than make up for it.

[icy ocean]

https://www.youtube.com/watch?v=GOmStHzPLME&ab_channel=CryptoTube

[brisk surge]

Yeah what you get back from the SLP token can be higher or lower eth and ILV than what you put in. If both ETH and ILV appreciate you should get more value when you withdraw your SLP than what you put in.

[gloomy gazelle]

@brisk surge you just leveled up even

[brisk surge]

Am I almost at nirvana? Lfggg

[brisk surge]

You also get revenue distributions once the game starts if you havnt read about that yet. Its basically what it sounds like.

[brisk surge]

So lambo. Okay I got what I came for

[brisk surge]

Happy to have you on board.

[gloomy gazelle]

#🥩〕staking message this is an easy way to monitor your IL just put your initial deposit value in and when you did it.

[fresh basalt]

I really like the positivity of this group, I mean we are still speculating and all but I do think investing in Iluvium is a good gamble. I never had an interest in crypto currency or block chain but amongst all of its uses I really think it is transformative and disruptive in the gaming sector and I think is more acceptable than having to use the tech in finance. Look at those other NFT games that look like crap and still raking in millions!

[clever swan]

uh guys why is the apy dropping so much every day? 😅 someone pls stop it

[granite halo]

What is it at now?

[clever swan]

last 3 days went from like 635% to 577% right now

[granite halo]

That is because of the price drop vs eth right? I am guessing it will go down 50-60% each month?

Was 580 yesterday so it probably also hit the fortnight reduction.

[clever swan]

i jumped in last week so basically no impermanent loss so far. I can't decide if that's a good thing or not haha

[sinful pond]

The APY varies a lot and not always downward. I've seen it at 600%, watched it go up to 750%, and then fall over the course of a few weeks to 577%. It just depends on price action, how many people are staking, and the decrease in overall yield farm rewards over time.

[fresh basalt]

All else being held equal if ILV price increases what happens to the APY? increase or decrease?

[sinful pond]

I could be wrong--hopefully someone will jump in if so--but I understand the projected APY displayed on the dashboard increases if ILV price increases and all else is equal

[rich timber]

after the 1 year lock period will the staking weight remain at 2 or go to 1?

[mint cave]

remains at 2 until you unstake, then you'd need to re-lock for 1 year to get the 2.0 weight again

[unique bear]

The spreadsheet is interesting. If you assume that you invest 1SLP or less and that the token price doesn't go up much in the next few years (unlikely, but a scenario), then you end up with not much gain at all after all the gas (sometimes a loss if you claim too frequently). Assuming you have long waits between claiming and gas is at or around the current price. Seems that Investing 5 + SLP starts to give you a lot more skin in the game and less reliance on token price to make significant gains. Ignoring Revdis and a failed game

[brisk surge]

Can I buy ILV on my iPhone is it recommended to do it on a computer??. Explain step by step what I need to do please I am struggling. And give me a rough idea what I should expect to pay in gas prices. I’m looking to put 2.5k in. I have meta mask 1inch and CoinSpot on my phone. I use CoinSpot to buy my ETH

[ripe finch]

is there any way to only claim the ILV rewards on the LP pool?

i don't want to pay 2 transactions , the UI makes me go through claiming all the rewards in both staking things

[cunning perch]

U can do it on both phone and PC. Most use MetaMask extension on PC. It's much easier and use Sushi to buy ILV from

[cunning perch]

Claiming SLP needs more gas as you have to claim ILV rewards too. So it's a two transaction-claim and therefore you're gonna have t pay more gas

[clear cape]

Lots more people are joining it thats why

[clever swan]

actually I noticed global amount staked go down last few days

[manic spindle]

Price went down 🙂

[clever swan]

so staking went up but price went down

[clear cape]

I think price went down and combination of more people joining the pool is creating the lower APY

[clever swan]

I mean does Stormi mean that this figure going down can also mean the number of stakers increased but the price decrease had a net negative effect

[cunning perch]

Many might be in Flash pools and Flexible pool withdrawing their assets as well. Also the price going down is def a factor

[manic spindle]

No, I am saying that the global amount is heavily affected by ILV token price as well and with the price going down $50 per ILV that obviously lowers the global staked amount quite a lot 🙂

[clever swan]

thanks guys, there's so many factors involved to wrap your head around. Gets confusing quite often.

[dry pendant]

Hey guys, I have a problem. I want to stake around 20$ in the core pool but i cant press the MAX button and cant chose any ammount. I connected my metamask to the site.

Can anybody help me?

[junior shuttle]

You have eth to make the transaction?

[dry pendant]

Yep i have 0,0058ETH

[clever swan]

$20? You know how high gas fees are right now right?

[dry pendant]

Nope, i am currently new to all this.

[clever swan]

I don't think $20 is worth it to stake with all the fees involved.

[dry pendant]

What would be the proper ammount to stake? I can do max like 50$

[clever swan]

the fees will be more than $50 these days

[dry pendant]

I am a poor boi lol :/

[austere cliff]

Would highly suggest that u save up a little more so that the gas fees dont outweigh the token price. The gas fees would already be around $50-100 now, it does go down to $20-30 once in a while, but u should keep an eye on it. But highly suggest saving up a little more so its worth it.

[dry pendant]

How can you see the gas fees?

[clever swan]

you can download extensions for your browser

[dry pendant]

oh really? Can you myb suggest some?

[clever swan]

just go to the extensions section for your browser and search 'eth gas' and the top ones for your browser will pop up

[clever swan]

If I were you, I would save a little more and then just buy the ilv token or keep saving before staking.

[austere cliff]

Save up till u can buy around 1ILV worth would be good. u dont wanna spend $100 on gas when you are only staking $50. I would say if gas goes to around $20-30 then at least staking 1ILV which is around $480-500 now is still ok. I personally wouldnt spend more than 10% of asset value on gas fees alone.

[dry pendant]

Oh okay. When i buy ILV can i use that in the future game?

[clever swan]

yeah these gas fees have been a huge deterrent for small stakers

[austere cliff]

ILV is only a governance token, it is not used in game. The game will mainly use ETH. So u dont need ILV to play.

[dry pendant]

Thanks guys! Ill see what i can do. My paycheck is coming in 2 weeks so ill see. I am from Croatia so 500$ is kinda lot around here :/

[austere cliff]

Yeah, it has deterred me from topping up my stake multiple times now.

[rich timber]

I luckily got in before eip1559 and when ILV was still around 250-300, I only got about 200$ staked and even if I wanted to stake more I just can't justify these fees so I might wait a bit until by funds have accumulated

[clever swan]

same here. I'm also hoping they figure out a way to group all these claims so when we unstake we don't have to pay fees for each one.

But most importantly, they need to make one button to claim revdis for all the separate claims or else I can see a lot of revdis never getting claimed.

[dry pendant]

One more question guys, i see that you have those levels for etehrium gas. Can somebody explain this to me?

[austere cliff]

Investment is a risk, so I would only invest/stake what you can afford to lose. I would highly advise against investing with money you need to survive because there is no guarantee u will make money.

[dry pendant]

Well i have above average paycheck so ill save up. No worries

[austere cliff]

When you stake or move funds around the etherium network, you will be charges gas fees which is essentially paying the miners a fee for mining your transaction. This price is determined by market forces, so it fluctuates quite a bit. This price is in the form of GWEI which is tied to price of etherium. Someone can correct me if im wrong. But hope this helps.

[dry pendant]

I see that curently it sits around 70-80

So how do you calculate that to actual money?

[austere cliff]

To make it simple, I would try to stake/claim rewards etc when the gas goes to around 20-30. Recently it has been rather high, but there have been certain days where it has dropped quite a bit.

But for some, the higher gas may not matter as much if they are staking a lot of ILV because you are not paying the gas based on the value of your asset, but rather as a one off transactional fee.

[unique bear]

Anyone know where there's any info/speculation on Staking V2?

[fresh basalt]

@elder dawn Hey bro, I was tinkering around with your calculator, is there any reason why your SLP price is constant and not dynamic? it is pegged at $2,474. It is in Cell J5 on the SLP worksheet.

[wind walrus]

Is your goal to play the game and make money from playing or do you want to own a governance token?

[dry pendant]

My goal is to make some money

[wind walrus]

By playing or investing?

[dry pendant]

I’ll start with stalnog around 500$ in the core pool for 12 months. And then playing the game.

[wind walrus]

Ok. ETH is the main currency in the game. By staking the token you earn either ILV or Silv as reward. If you choose Silv it can be used in game for most things. Once you get your ILV staked you should grab some ETH as you will need it to Interact with IMX.

[granite halo]

I think we really deserve to hear an update on staking V2. Would there be any way to transfer V1 to V2? What will be different in V2? Is v2 delayed as well?

[dry pendant]

Im sorry what is IMX?

[wind walrus]

Immutable X is layer 2 solution that the game will be built on. It will help with gas fees

[dry pendant]

Oh okay so you suggest staking to silv and then I’ll ned around another like 50$ for the imx?

[deft wadi]

I didn't know there is a V2 coming. Where'd you hear about it?

[wind walrus]

Stake in the ILV pool like you wanted. Then try to buy some ETH when you get some extra money. You will need ETH to claim rewards and interact with IMX.

[dry pendant]

Thanks m8!

[wind walrus]

NP. It's a lot to learn. I would read all the pinned info in this channel.

[unique bear]

Heard it mentioned in some chat on one of the channels, but seemed speculative. Haven't heard any details.

[full moat]

If you believe in this project long term. Would it be better to stake $15k in ILV pool or $7.5k ILV/$7.5k ETH in SLP pool?

[wind walrus]

Myself? SLP.

[full moat]

Yep, like to stake for a 1 year. Is the gains much bigger in the SLP pool despite impermanent losses?

[wind walrus]

Yes, gains are 570% compared to 78%. IL is something to consider if you decide to remove liquidity. I don't plan on removing as I want to keep the 2x weight for life

[full moat]

Thank you!

[wind walrus]

Just keep in mind the gas fees for claiming from SLP pool are high atm. Will eat into profit if done incorrectly. There is a spreadsheet pinned in this channel that can help

[deft wadi]

SLP for one year will net you so much more ILV

[full moat]

Yeah, gas fees are crazy right now. Will have to wait for it to go down :/

[wind walrus]

Last time I claimed SLP gas was 53 and I payed $120 to claim.

[full moat]

I just wish there was a calculator for how much ILV you'd get cuz it's easy to calculate for ILV pool.

[wind walrus]

There is. It's pinned in this channel

[full moat]

I see it, thank you. Is there a link for SLP price?

[kindred merlin]

Hi All, Another noob question related to ILV/ETH sushi LP:
does the APY shown on Illuvium.io (right now approx. 570%) include rewards from trading fees in the pool. or is it only the rewards from the ILV set aside to reward this pool.
And is it possible anywhere to see how much trading is going on via the pool. and how much of the reward is from trading fees. ?
Thanks,

[wind walrus]

The spreadsheet has tabs for ILV and SLP. Save a copy and input your numbers

[wind walrus]

That's a question for someone smarter than I. I know we do get fees from Sushi and I believe they are automatically added to our holding. There is a site that allows you to see this but I cannot remember the name. Zeroin maybe

[mint scarab]

do you need to claim the ILV from the flash pool in order to start the vesting and the compound _> is that basically like they are in the governance pool after the claim or automatically?

[manic spindle]

Flash pools rewards have to be claimed just like core pool rewards to do any compounding, correct 🙂

[mint scarab]

ok so the claim moves them to the gov pool

[manic spindle]

Claimed rewards are staked in the ILV only pool with a token weight of 2.0 🙂

!claim

@woven ibex on strike again? 😦 Busy guy lately

[fading nexus]

!botbrokedown

[manic spindle]

Manually then 🙂

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.

[mint scarab]

what do you mean by token weight beeing 2 -> they count double when they are vested?

[magic ledge]

When I claim rewards, it compounds towards my ongoing reward calculation?

[manic spindle]

Token weight 2.0 means they count double during rewards calculation, yes. You should read through these sources here:

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

[mint scarab]

thank you very much for all the help

[magic ledge]

When I claim rewards, it compounds towards my ongoing reward calculation?

[manic spindle]

#🥩〕staking message 🙂

[magic ledge]

Damn

[clever swan]

wow this slp apy is dropping so fast last few days

635% to 568% in two days.

at this rate it's going to hit 0% in a few weeks 😅

[wind walrus]

Several things effect apy. ILV price, number of SLP in pool, Flash Pool and 3% Fortnite reduction

[clever swan]

I learned that the past week but still it's dropping at a rapid rate. starting to wonder if slp was worth it

[granite halo]

Seems like the drop in APY= the same as the $ amount. If it goes back up to 550 USD, APY may go back up to 600+

[cunning perch]

If you have gained enough to have got your initial investment back in rewards, if not more, then it's always worth it.

[clever swan]

nah it was 630% when I staked and price was $500

[clever swan]

if it drops at this rate most who join now probably wont and then if you figure in IL then you are better off with the regular ilv pool I think

[abstract crown]

You can't figure in IL really, b/c you can't predict how prices will move. It's just a risk factor you have to accept

[cunning perch]

It really depends. When pools started, the APY was lower and then it pumped to 600. I myself didn't like the hassle and joined the single pool. I suggest anyone who are like me, do the same. NFA of course. You've gotta decide what to do really.

[wind walrus]

If that analogy is correct then less SLP will go into pool. In turn will slow down apy drop.

[clever swan]

if apy drops anywhere this rate and ilv moons more than eth than slp pool is prolly not worth the risk

[clever swan]

well you have to factor in how fast the pool will grow as word spreads about the project. I'm just pointing out that the apy dropped considerably last two days

[abstract crown]

But again, ETH could moon more, they could moon the same, etc. You don't know that risk and it can't be calculated. You just have to accept it's existence as part of participating as an LP.

[clever swan]

but not the ilv pool.

[abstract crown]

You were talking about IL, which is only in context of the SLP.

[wind walrus]

Maybe. The Flash Pool will end in a couple days and apy will gain a little

[clever swan]

yeah, if ilv outpaces eth, and apy drops around this rate, then you will end up with less ilv you could've bought than buying slp tokens is my point.

[clever swan]

are you sure flash pool effects slp apy? Where did you get that info?

[wind walrus]

Yes

[abstract crown]

I know that, but I'm saying you can't factor in IL, it's an impossible variable to guess at. So you either risk it or you don't. You also can't determine how quickly or how much the APY will drop and/or grow.

[clever swan]

I'm saying at the rate we are seeing drop right now because we are witnessing it happening 😆

[manic spindle]

Flashpools take 2% of the total yield farm rewards paid out during their lifetime. So that does affect APY of both core pools, yes 🙂

[gusty magnet]

Hello guys! Do we have any idea of how much a land is gonna cost? Do we know if SILV accumulated in the stake will be enabled to use? Are we going to be able to combine ETH with our SILV to get it?

[clever swan]

Interesting, thanks for confirming that 👍

[wind walrus]

Probably a better question for illuvium zero channel

[clever swan]

just trying to figure out how I'm going to stake my other funds. not sure doing more slp is worth the risk anymore and might just do the ilv pool.

[wind walrus]

There is a lot to consider. I'm putting about 5k more into SLP pool once my transfer goes through. We all have different thoughts and risk tolerance. Good luck.

[clever swan]

Yeah I only did slp staking for now. 3 months locked and 12 months locked, but after seeing the apy drop this much and considering I think ilv will moon harder than eth, maybe the smarter play is just doing the ilv pool.

[opal siren]

I believe sILV accumulated is available for use on the land sale, per the actual IIP governance doc, but this likely still needs to be confirmed

[cunning perch]

U can buy land with either ETH and/or sILV.

[gusty magnet]

Thanks

[open steeple]

can the rewards on ILV from the SLP that goes directly into the ILV pool at 2.0weight just be worth the risk? with the APY falling until 300 or 400% you would still make your money in 4 or 5 months and then we should be fine

[hot lynx]

Factor in each reward unstaked is then another 12 months

[steady trellis]

Still work to do but I tried playing with the values/pools rather than the APY to be more realistic. When I compare to what I got in the last 24h it seems close for SLP but it calculate less for ILV (like more than half less) so not sure where my calculation is wrong. In case someone want to dig and point my mistakes here is again the link : https://docs.google.com/spreadsheets/d/1eupQ4baU_GGR3WAk5fDrQI29O4jJcc_bd9ueaiPk-Gg/edit

[clever swan]

those start compounding when you claim which is probably correlated with how much you have invested and gas fees but from what I see so far those making a cushion for the possibility of apy falling faster then to make up for IL if ilv moons is probably slim.

[open steeple]

well my move is made, im allin on the SLP, lets ride it out, glgl to all of us 😂

[unreal urchin]

Good for you. Mine is locked for 12 month and I'm gonna forget it and let it be for 3 years

[verbal lintel]

I'm just stopping by to give a shout-out to @elder dawn for the excellent articles on ILV staking. Best thing I've found to help me understand divergence loss (impermanent loss). https://www.publish0x.com/ilvfi. Now back to reading...

[umbral crane]

whats apy at?

[brisk surge]

Check https://staking.illuvium.io/staking/core

[umbral crane]

i kno im jus at work and dont want to connect my wallet lol so cant see

[abstract crown]

568%

[wind walrus]

My goal is to accumulate as much ILV as possible for RevDis. The value per token is not a huge concern for me.

[clever swan]

that's my goal too.

[umbral crane]

damn droppin hella fast

[deft wadi]

After putting equal amounts in single ILV and SLP I wish I only put in the SLP pool

Single ILV grows so freaking slow

[clever swan]

I feel the exact opposite after only putting in slp haha

[open steeple]

are you guys planning on getting some Silv for the landsale? i was thinking when the auction is near to get some rewards in Silv, currently im claiming ILV

[wind walrus]

It's a tough choice. Land would be awesome but not sure how much it will cost or how much income it can generate.

[ripe steppe]

Why? Genuinely interested

[clever swan]

we had this convo above so you can scroll up. I don't want to seem like I'm down on the project bc I'm super bullish the more I learn about it.

[ripe steppe]

Fair, we’ll see over the coming year which was the better choice, i think SLP is the better and even if it ends up being somehow less overall profitable (which i doubt) it certainly wont be by much as far as i can tell…. Also APY dropping doesnt actually necessarily reduce your rewards in ILV, if more people join the pool then you do earn less rewards, but if the amount of people in the pool remains the same but ILV price goes down, then APY falls because its based on the $ value of SLP which falls, but the rewards in ILV actually remain the same or may even increase, I only really found out about this detail yesterday but its a real positive

[quick flare]

I don't think I will ever have enough money to buy a piece of land 🥲 . So claiming ILV is the best option for me I guess

[abstract crown]

Same here. I think land will be quite hefty

[silver nebula]

I heard someone theorise that t1 land will be 0.5-1 ETH, which is both hefty and reasonable

[abstract crown]

That's not as bad as I was thinking

[ripe steppe]

It is tough, i think i will bite the bullet and claim some sILV for land and in game, since ive invested everything in pool have no other assets to play or get land with, And land at whatever price it gets sold at now will be super cheap compared to its value in 5-10years

[north sundial]

Hi guys, is the ILV yield auto-compounding or do we have to claim it as ILV and then it compounds? Also does claimed SILV compound?

[clever swan]

I just noticed my rewards ticking up slowing down considerably last few days. Also, IL could become a real factor a year from now if ilv moons.

[silver nebula]

have to claim

[ripe steppe]

sILV does not compound, but is instantly claimable and usable (in game only or for land sales), ILV when claimed auto locks and compounds at 2x weight for 12 months

[silver nebula]

If ILV moons, then APY on SLP will also go up because rewards are paid in ILV

[north sundial]

Can we sell SILV in the game for ILV? Or maybe trade it on a dex in the future?

[ripe steppe]

As long as you get your initial investment back in rewards (which at current apy is takes less than 3months) then even if IL is high its still overall more profitable

[ripe steppe]

No real reason why u would want to sell sILV as you wont be able to sell it for as much as ILV, But in game it would have the same $ value as an actual ILV (actual ILV cannot be used in game, in game only sILV or ETH)

[clever swan]

well the apy falling in 2 days made the 2+ months now into 3+ months and it could theoretically decline at this rate or even if it slows down you might not make up for IL which means the ilv pool was the smarter play. Again, these are all what if scenarios I'm playing out to decide what to do with future funds I intend to stake.

[quick flare]

then guess I will not claim either until more details about land sales is out

[silver nebula]

The APY is declining because the price of ILV compared to ETH is declining, and because another 10% has been staked in the pool in the past week~. It would make sense for more to be staked given the APYs, I'd expect the amount staked to be double in the next few weeks. i.e. APY will halve

[ripe steppe]

For sure the later someone gets in the more likely for normal ILV pool to be better value, but i still feel that even at 300% - 200% APY, the SLP might still be better overall, But ur right, we really dont know and it is seculation, ILV main pool is 100% safer and i cant argue with that, Higher risk higher reward

[clever swan]

then slp stakers actually hope eth keeps pace with ilv if it moons

[abstract crown]

Not so much as get back your initial investment of ILV before any significant IL takes place

[clever swan]

but you need to factor in pace of apy decline if it keeps happening like now

[abstract crown]

Yes, but you can't factor that in

[silver nebula]

yeah definitely, just the APY that displays on the website right now appears worse because of the divergence. If price ratio of ILV to ETH remains constant, the only things affecting the APY will be the 3% decreases in returns, and the amount staked

[clever swan]

dude it's happening right before your eyes

it went from 635% to 560% in 2 days

[abstract crown]

You're not understanding me. I know it's happening. I'm saying you can not factor in a decline that you can not predict as to how much or how fast it will decline. It's impossible to know the collective consciousness of the market participants.

[clever swan]

we all know that. you're stating the obvious. we're speculating on different scenarios to figure out what is the best investment strategy as we learn more about the financials products, the game, and the etas.

[silver nebula]

I think everyone should put their coins in the ILV pool, and leave the juicy SLP rewards for me!

[ripe steppe]

It for sure appears more exaggerated than it actually is due to higher ETH price in last few days and lower ILV price. @clever swan …. If only factors were more people staking and the 3% biweekly decline would be so large a decrease, both those factors happened in the last week and at the same time ILV went down a bit and ETH went up a bit and alltogether it made it look way more applified and now last 2 days everyones like shit the APY is going to 100 in a month

[abstract crown]

But you keep saying to factor in the decline, how are you going to do that when it's not possible?

All you can do is look at what APY is right now, how much you're willing to risk to go to 0 and if you're willing to accept any IL that might occur (without having any idea IF it will occur or to what extent)

[clever swan]

it's possible because it's happening. let's agree to disagree.

[mint cave]

sounds like something an impermanent loser would say

[ripe steppe]

Yeah all this SLP FUD is actually great for us, unfortunately most people staked in SLP are in for a full year so cant pullout to leave more for us….. so many paper hands right now being forced to be diamond hands and they are not comfortable with that one bit

[clever swan]

you read my mind but I still agree with him

[abstract crown]

I'm not saying a decline is impossible I'm saying it's not possible to factor it in to your analysis because you can't predict how the decline will take place.

[clever swan]

We are SPECULATING different scenarios. I don't want you to think I'm rude but I will stop replying to you about this topic for now.

[silver nebula]

I speculate that the APY of the SLP will halve due to TLV doubling, I believe it will further decrease by 3% a fortnight. And I expect the ETH-ILV ratio to remain somewhat constant, but factoring in at least 10-20% in IL due to divergence. After these calculations I'm still comfortable with my 200-300% APY over the next 12 months in the SLP pool

[clever swan]

that would be crazy if it went to 100 in a month, but I agree everything is amplified right now because of different factors converging. but you could also theorize that this happens staggered just more closely bunched up then most of us initially thought when we staked slp.

[clever swan]

what is the tlv doubling?

[silver nebula]

total locked value sorry, i.e. people will pour in coins and split rewards between more people

[clever swan]

interesting, thanks for sharing your spec

[silver nebula]

My friends are sick of hearing my preach this snake oil, so gotta find an outlet. Thanks for listening 🙂

[abstract crown]

That I can sympathize with, but that's only my non-gamer friends. My gamer friends are super hyped for this being the next paradigm in gaming.

[clever swan]

even my wife who has nothing to do with games thinks this project is brilliant

[abstract crown]

That's awesome, after I explained everything to mine she felt the same way. The distribution model is just way too clever to deny.

[silver nebula]

(for disclosure, I have 16.7SLV, and only entered a week ago)

[abstract crown]

SLV, SLP, or ILV? hehe I think you mixed some letters up 🙂

[silver nebula]

SLP!

[clever swan]

yeah, the tokenomics seems really well thought out and I like how all the rev goes to the stakers. I'm kind of relieved that they postponed things bc I was starting to feel like everything was being rushed

[abstract crown]

That's awesome, I only have 1.58 😦

[silver nebula]

13.5ETH turned into 16.7SLP turns into Lambo. That was my logic

[wind walrus]

Mini whale.

[clever swan]

damn you must be getting more than 1 ilv token a day

[abstract crown]

I'd much rather it be dragged out longer and have the highest quality product they can produce. I agree and feel there is no need to rush this out at all. This has potential to be a massive disruptor to the gaming industry but it has to be done right

[open steeple]

I saw this post from @ripe steppe wich i find to be very accurate, i do think SLP is better long term vs ILVpool, but for sure way more riskier

[silver nebula]

1.8~ a day

[ripe steppe]

Lol same

[ripe steppe]

Nice, im getting only 0.64 per day currently as of last 24hrs, and still feels like loads, in $ value this is more than i make at work lol

[silver nebula]

My only concern with this whole project, is the fact that apparently Kieran is wedded to the tagline "Fight for ETH"
Really makes me worry that decisions will be more money focused than enjoyable game focused.

[abstract crown]

You guys are ballers, haha. I'm squeaking in at .13/day right now.

[noble bridge]

this is not how it works you have to factor increasing pool size

[silver nebula]

I meant amount staked = pool size, sorry if there was confusion

[abstract crown]

Hmm, how so? "Fight for ETH" is just because you wager ETH on your battles. So I'm not sure how that affects whether it's $ or game focused?

[silver nebula]

I wasn't aware that you wager ETH on your battles, if this is just a painted gambling simulator I'm even more concerned!

[ripe steppe]

Thoroughly doubt that tagline means they arent focused on making an enjoyable game, theyve never stopped explicitly stating that making an enjoyable game is top priority (cos if axie can make un unenjoyable game thats just about money and be that successful imagine if ILV is an enjoyable game that u can also profit from)

[wind walrus]

You don't have to. Just speculation for tournaments

[ripe steppe]

No matter how much or how little u have in this game, never feels like enough tho lol

[abstract crown]

Right

[silver nebula]

I hope you're right all right. I've obviously invested enough to care and want the best. But I wholeheartedly disagree that fight for ETH is a good tagline for a game...

[abstract crown]

Haha, that's so true, good point.

[ripe steppe]

Its an added option, you could play this game and never wager and make money and enjoy the game, Theyve also made it so that if any countries wanna ban this game due to gambling regulations then they can turn off the wagering feature for only those particular countries, its been thought through

[ripe steppe]

As opposed to the mainstream gaming tagline of ‘fight for nothing but wasted time and money’. For sure far superior lol in comparison

[silver nebula]

hmmm, that needs to be monitored so closely.... Some serious social harm could come from this aspect

[abstract crown]

Well and besides all competitive games are a wager. Whether you're wagering actual $ or your MMR.

[elder dawn]

@fresh basalt It is dynamic- I just haven't figured out a way to pull the SLP price into Google Sheets directly yet. It doesn't impact many of the calculations, but I'd advise adding the updated value. I at least gave the link to find the current price right next to the cell.

[abstract crown]

How so?

[ripe steppe]

100% agree and i believe it will be monitored, likely limits and things may be put in place in future if it causes too much harm, but also many many players will likely never even use the option

[silver nebula]

children gambling, vulnerable people gambling, borrowing money resulting in destroying lives. Problem gambling is.. problematic. I certainly try not to invest in gambling businesses

[ripe steppe]

Deraji, would it be possible for u to make a video on how to use ur calculator, for the life of me i cant get it to work, is it because im doing it on my phone maybe, should i try on the laptop?

[noble bridge]

use laptop its very easy just add your personal values

[ripe steppe]

So far ive just been playing with the maths on paper and pen lol

[abstract crown]

I see, I can understand not wanting to invest in gambling businesses. But it's no different than 99% of mobile games or online casinos that already exist. The people who have the tendencies to do what you state are going to do it either way.

People will do what they want with their money. Just because a system has the potential to be used for bad doesn't mean that the system should not be created.

It's definitely an interesting topic, though.

[noble bridge]

there are some lines at the bottom where he explains each calculator

[ripe steppe]

Yeah but we dont want people to be blaming our beloved game for their losses and disaster, we want added reasons for people to find a way to make this industry taboo or overly regulated, thats why dozer has a point and reason for concern

[elder dawn]

Yeah, we can do that. I need to write a straight-up instruction manual, and we can review that in a video. working on it. Unfortunately, ILV or Publish0x aren't paying the bills yet, so I'm also trying to keep the day job.

[silver nebula]

Thanks for the chat guys, all the best. And somewhat related to the Fight for ETH hook, I hope you all remember what Chris Wilson thinks winning in video games looks like:
https://www.youtube.com/watch?v=w19sqGjmNlY

[ripe steppe]

Lol yeah thats fair, maybe we can chat about it privately and u could talk me through it, id happily make a video on how to use the calculator

[abstract crown]

Yeah, I definitely agree with that and want to avoid those things if possible.

[noble bridge]

god help you lol

[austere cliff]

thats exactly the same as mine, but it seems to drop each day, started with around 0.15 a day, then few days after that became 0.14 then few days later it was 0.13.. i feel like in a day or two its gonna be 0.12 a day. Still a little confused on how its calculated as the amount of rewards received can still go down when the APY went up.

[abstract crown]

Hmm, I'm not sure how your rewards could go down if APY goes up. But APY has been falling over the last few days from like 630%ish to the 565% it is now.

[elder dawn]

the ILV price messes with the APY. if it goes up more than the ILV rewards decrease, your APY goes up. For me, I care more about the number of ILV received than their value right now.

[austere cliff]

Yeap it has, but Last time when i was staking less, i started with getting around 0.10 per day and that time the APY was 580-600% and a few days later as the prices started to rise, the APY went up to 600-700% and my daily rewards dropped slowly day by day. By the end of 2-3 weeks it ended up being around 0.7 per day. Quite odd, not really sure how to make of this.

[abstract crown]

Definitely interesting, I don't know enough about the exact reward calculations to know if that makes sense or not.

[elder dawn]

track ILV price during this time. Price has gone up significantly (though it has floated for a while around $500 now), but rewards decreased 3% a couple times, and pool population keeps growing. that's why.

[abstract crown]

If pool population grows wouldn't APY then go down? So that wouldn't correlate with what he's saying (outside of the 3% decrease)

[elder dawn]

yes, 3% decrease and pool growth drop the APY. Rising ILV price brings APY back up. They have offset each other. About two weeks ago, after the price run up, but before pool growth, APY was in the mid 700%s. Now that pool is growing, another 3% drop, and price has stabilized, we're back under 600%

[austere cliff]

Yeah, my guessed would be due to the increase in pool population/total locked value. I didnt monitor that, only monitored the price and APY. But I guess the calculation is complicated. So I would assume that if I am receiving 0.13/day in rewards now, it will slowly decrease as more people enter the pool even though the APY may go up as ILV price goes up. The effects of more entering the pool seems to have a greater impact on the rewards earned as opposed to the APY itself. Not even sure I am making any sense here. But am still happy with my rewards, just hope it doesnt get too low too soon.

[quick flare]

are there any charts for the APY ?

[wind walrus]

There is a spreadsheet pinned that breaks it down a little

[drifting elbow]

How many dollars is it safe to leave for staking in the pool + providing Liquidity to Sushiswap? about 200 dollars is fine?
I plan to do it when gwei hits 60

[quick flare]

I did it on Sunday, cost me around 140$

[flint nimbus]

300 dólares fee to stake, ethereum is shit

Fee to transfer the eth, fee to swap, fee to arpove de wallet, fee to stake

[wind walrus]

Yep. With that amount it's best to hold until you can afford more. Hopefully ETH V2 will solve this gas war

[sullen siren]

Hey guys, need some help. I modt definitely did not get my numbers plus fees right as a first time staker and new in crypto over all. Trying to stake anything at this point and why is it that we aren't just told a minimum amount needed? I understand gas fluxes but still. So I've transfered out of metamask and into ILV and I am currently sitting at .626 in my balance on illuvium.io. no matter what amount I put or what time the gas prices are low, I never have enough of a balance when the meta extension pops up. Do I need more eth in my wallet or more ILV or both? Sorry if this is a stupid beginner mistake but it's been two days and I either need my money back out or to stake it instead of wasting time. Thanks community

[wind walrus]

Do you have ETH and how much

[sullen siren]

I only have the remaining "change" from the ETH to ILV transfer I did initially. And the conversions keep messing me up of how much I need vs what amount to of cash I have to put in

[wind walrus]

Ok. The ILV you have is not transfered to Illuvium.io. Your wallet is linked to the site. Which pool do you wanna stake to?

[sullen siren]

ILV for 15 weeks to start and then I plan on doing a few different variations as the year continues and I get some more cash flowing

[wind walrus]

You will probably need about $60 in ETH to stake in ILV pool.

[ripe steppe]

In your metamask that eth that faultycircuit is is reffering to, so if uve just got almost no ETH in ur metamask no way u can pay any transaction

[sullen siren]

Perfect. I appreciate the help guys @wind walrus @ripe steppe

[wind walrus]

Np. Welcome to the family

[ripe steppe]

GL 🚀🚀🚀

[quick flare]

guys, do I still get the 0.3% fee share per transaction on sushiswap after my LP tokens are staked?

[wind walrus]

.25 yes

[ripe steppe]

Yes, that is added to ur SLP value and helps counteract IL somewhat

[quick flare]

yep thanks

[ripe steppe]

@wind walrus high five #teamwork lol

[swift belfry]

I assumed that 0.25 is already built in to the apy. How do we claim the 0.25?

[ripe steppe]

U dont claim it its automatically added to the value of ur slp @swift belfry. So takes no transaction fees also lol

[swift belfry]

Ah ok. So somewhere I’ll have an SLP balance that is slowly growing but isn’t the SLP staked on the ILV website?

[ripe steppe]

It is staked, but its value changes as the value of ILV or ETH changes and as it has the .25 added to it, overall the .25 is not really something to worry about, its built in and handles itself

[swift belfry]

Ok. But presumably if you just owned SLP but never staked it on the ILV website you would still get the 0.25. So I assume I must have a separate pot somewhere? Or does the amount of staked SLP actually grow over time?

[ripe steppe]

If u didnt stake the mechanic would be the same, the .25 is not put in a seperate pot just added to the SLP total pot

Amount of SLP grows due to .25, may decrease in size due to impermanent loss (which is counteracted by your rewards in staking and by the .25), also affected by ILV and ETH price fluctuations

[umbral lava]

I have a question about vesting period for Sushi LP. If I'm currently staking and I want to add more LP tokens into the pool, does the vesting period reset back to 365 days?

[mint cave]

each time you stake it creates a separate stake

[umbral lava]

Oh, so it's separate vests for each stake addition?

[sullen siren]

Correct me if I'm wrong, but gas prices to do anything with ETH right now are stupid high right? Still don't have enough to cover fees just to stake and I've got almost $60 in eth

[umbral lava]

Give it time so they come down a bit, check every 15-ish min. I see it's 100 gwei

[mint cave]

you gain rewards at a rate equivalent to the sum of all your stakes, rewards aren't individualized to that degree

but yeah, every time you create a new stake it will be its own thing

[umbral lava]

I see, thank you!

[naive cloud]

In your google sheet you project a 2% drop per fortnight based on pool population growth- have you noticed if this has aligned with the token rewards you've been getting since creating it?

[elder dawn]

i just updated everything this weekend - i started tracking the data on Xastor's page and have seen ILV pool is going up about 9% every two weeks (running average) and 18% for SLP. I'll keep tracking and update over time. I do expect this to go down over time as the pool grows, but these are the current growth numbers. https://dune.xyz/xastor/Illuvium-Dash

my earlier estimate was way off in this regard and the SLP pool has been blowing up with people joining and very few people leaving.

[naive cloud]

Ok thanks. So, would that be an 18% reduction in pool rewards, or is the effect not exactly 1 to 1 ?

[elder dawn]

not exactly - it then depends on their lock up period (and yours) as token weight will have an impact. to estimate it, i just have it as an 18% reduction for now. i keep trying to make it more accurate, but still just a rough tool to estimate. I may be too conservative at this point, but I'm trying. 😁

[naive cloud]

For sure, its a hugely helpful tool (maybe too helpful based on the LP participation, lol)

[elder dawn]

yeah, i may regret my life choices to try to be helpful, as its costing me (us) money

[lunar marlin]

I really just wanted to stake, but the current gas fee make it unviable to me 😦

[brisk surge]

better gas usually comes on weekends

[neon isle]

what gwei was it around that time

[quick flare]

dunno, i'm not familiar with gwei

[neon isle]

so 140$ for the whole process of buying eth, buying ilv, getting slp tokens and staking it?

[elder dawn]

thats a pretty good estimate right now. Just watch mid-business day US time as gas has spiked to 100's or even over 1000 Gwei, which would make fees in the $1000+. always good to check gas

[quick flare]

nah I've already had ETH and ILV in my wallet, $140 is for approving token transactions, providing liquidity and staking

[neon isle]

still decent, ty

[ripe steppe]

I actually saw the fees rise to the point were it was 0.5ETH per transaction for a few seconds at one point last week, The thing is for it to get that high, there actually has to be some whales out there who were actually paying that, and not just 1 transaction, its straight up insane

[abstract crown]

I think those fees were due to NFT generation as I'm pretty sure that's a very expensive transaction.

[nocturne monolith]

Where do I find the calculators here??

[wind walrus]

In the pinned section of this channel.

[brisk surge]

Can see the pin on mobile too

[wind walrus]

Cool. I see that now. You gotta swipe over. Thanks

[wind walrus]

Learn something new everyday

[brisk surge]

Always something to learn in this discord haha

[nocturne monolith]

Is this normal on sushiswap?

[swift spindle]

@nocturne monolith are you following the staking tutorial pinned in this group?

edit: If you follow that, you shouldn't run into any issues

[ruby wing]

not sure what you are doing

!staking

[woven ibex]

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

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

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

[ruby wing]

see tutorial please

[nocturne monolith]

All I did was paste the SLP address into sushiswap "swap to" field

[ruby wing]

SLP is what you get when you provide liquidity

please follow the tutorial

[ripe steppe]

SushiLP Not smooth love potion right???

[pulsar halo]

guys if i stake it for 16 weeks for locked for december, and i wanted to make it longer. how can i do that?

[ripe steppe]

I dont believe u can until it unlocks

[wind walrus]

Just don't remove.

[pulsar halo]

because i assume the game was going to be released on december, and so i can have Silv... but if its delayed then, i might just stake it longer

[ruby wing]

this

[ripe steppe]

U can claim rewards in sILV at any time anyways, regardless of how long u stake for

[pulsar halo]

so if i dont remove it, will it keep staking it?

[ripe steppe]

Yes

[wind walrus]

It will stay in pool at the weight you first locked in at. If you want higher weight you can pull out and restake at higher weight

[pulsar halo]

how much is the ratio for rewards to claim ILV and Silv? is it the same ?

[ripe steppe]

But if its locked for only 3 months then its locked with only 1.25 weight, if you unstaked it when it was unlocked and restaked it for a full year u could get 2x weight if u wanted

[wind walrus]

1 to 1, once you claim Silv it can only be used in game and to purchase land. Atm it cannot be converted back to ILV

[pulsar halo]

if i take it and restake it, it will cost double gass fees right? 😦

[brisk surge]

ILV is automatically re-staked when you claim it. sILV cannot be staked in official ILV pools

[wind walrus]

Yes. A fee to remove and a fee to stake.

[ripe steppe]

If u just keep it in, obvi no transaction fee, but also less rewards

[pulsar halo]

ahh i see, shouldve it staked it for 1 full year then... i thought i was just gonna stake it til the games out so i can use the coin for ingame money haha. any suggestions then?

[ripe steppe]

Wait for it to unlock, decide whether or not its worth gas fees to restake at higher weight, Really nothing u can do, You can always get more money, sell whatever you dont need, stick that all in for a year lol

[pulsar halo]

hahahahah, the gassfees is tooo daaaymnn high

[ripe steppe]

Cant wait for ETH2.0, gas fees gunna become almost free (hopefully)

[pulsar halo]

hmm truee, if the games out. then we need money to play right? with Silv? and i was thinking im gonna play with the Silv i got froms taking, is that right?

[ripe steppe]

U can buy things in game and also land only with ETH or sILV

[wind walrus]

Yep. Can play with Silv or ETH

[pulsar halo]

if i restaked it for 1 year, and then once its unlocked to claim it gotta wait another year. so 2 years total? 😮

[nocturne monolith]

Here's what happened. I acquired ILV a few days ago. But now I'm thinking I want to stake the sushi LP, So in that case I need to swap from ILV to sushi LP before I stake, correct?

[wind walrus]

If you claim silv you can use it right away. If you claim ILV it is staked into the core pool a 2x weight for 52 weeks and starts compounding

[pulsar halo]

i honestly dont really understand that too, the higher % is looking good, but i heard the risk is greatyer too

[nocturne monolith]

The rewards you get will greatly outweigh any losses associated with price fluctuation

[pulsar halo]

which pool are u staking at? is the sushi LP one better? really need tutorial for this

[ruby wing]

you need to go on the sushi liquidity page and provide ETH and ILV 1:1

!staking

[woven ibex]

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

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

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

[ruby wing]

!read

[woven ibex]

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

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

[wind walrus]

Yes, you need to take equal parts ETH and ILV and swap on Sushiswap for SLP. Then stake in pool

[nocturne monolith]

Well shit. Guess I need to transfer some ILV back to ETH then 🙄

[pulsar halo]

is the rewards of sushi lp with eth and ilv greater than the ilv pools?

[wind walrus]

Make sure the initial investment is worth the gas fees.

[wind walrus]

Yes. SLP pool is around 570%, ILV pool is about 78%. Both will go down over time. Both have pros and cons

[pulsar halo]

yeah honestly im having a hard time staking because of the high gas fees. and also with the current ilv token price thats kinda high, for staking it needs quite abit of investment right..

for example with 10k $ u can only get like 20 tokens, and idk if thats worth staking?

[wind walrus]

10k is definitely worth staking to me. I started with 3400. Only 4 ILV. I added 5k more and I am added another 5k when gas drops. NFA

[pulsar halo]

you reckon is it too late if i buy again now at the current price of 501$?

[wind walrus]

I don't. I bought at 411, 477 and 490. Only you can decide what is best for you though

[pulsar halo]

did u stake em all already? in the SLP or the ILV pools?

[wind walrus]

Yep. All staked SLP 52 weeks. Buying 5k more when gas drops

[pulsar halo]

what about impremanent loss, have u ever encountered that?

[wind walrus]

I'm sure I will but I never plan on selling so IL will not be an issue. I want the 2x weight for RevDis

[pulsar halo]

is the weight = the returns u get for staking the coins?

for exmaple if i stake 10 ilv, with the weight of 2x ill get 5 ilv in 1 year?

[wind walrus]

You get different apy for staking and you also get weight depending how long you stake. 52 week lock gives me 2x weight. With 2x weight I will get double revdis

[pulsar halo]

sorry i dont undertsnd, what is revdis?

[wind walrus]

No. Weight only refers to revdis. Apy is how your tokens will grow

Revenue Distribution. Have you read the whitepaper?

[pulsar halo]

ohh right the distribution of coins that they give for stakers right?

[wind walrus]

We all get a piece of the revenue that Illuvium brings in

[wind walrus]

Sorta. You also get coins from staking. Revdis is a piece of the revenue

[pulsar halo]

i see, will u get the revdis from the website rewards too then?

[wind walrus]

Not sure what you mean about website rewards. If you mean tokens you earn while staking then yes. Once you claim you rewards from staking they get locked for 12 months but you get revdis from them with no lock

[wind walrus]

Read the whitepaper and watch a couple yt videos. A lot of info out there

[pulsar halo]

thanks for the clarification circuit, cheers mate

[wanton nova]

Hey guys, do you know if its possible to check the currrent APY of core pool without connecting a wallet?

[brisk surge]

Nope it's not you have to connect your wallet.

[wanton nova]

Bummer. Ok thanks

[real nebula]

is gas ever not going to be outrageous ever again?

i dont want to have to wait until 2.0 to claim again...

[ivory sun]

Can I claim rewards, unstake, then stake again (i.e. locking for a period of time), the previously collected reward will be included on the new stake?

[manic spindle]

!claim claimed ILV is auto-locked and auto-staked already 🙂

[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.

[ivory sun]

Thanks

[sinful mauve]

btw i dont see any silv reward in my staking. i am just staking ilv is that related? been staking for 1month no silv in the reward

[cunning perch]

You decide what you wanna claim. You can either claim ILV or sILV. Gotta choose each time you wanna claim

[sinful mauve]

i see thanks!

[warped anvil]

I'll be staking my SLP tonight when the gas fees get lower. I'm so stoked about this!

[cunning perch]

we're stoked that you're stoked 😄 Don't see gas tanking though. Hope it does for you 🙂

[warped anvil]

thanks! Yeah I don't think it will tank. I just want it a little bit lower

[abstract sentinel]

What is even considered low anymore

[cunning perch]

30-40 these days is kinda low. 20 then you're lucky