🥩〕staking

[warped anvil]

Hell I'll take somewhere in the 50s at this point

[abstract sentinel]

Ever since i staked first time its just been crazy

[cunning perch]

I used to claim paying $4....now.....don't even look at my dash and/or wallet really.

[warped anvil]

Let's petition to move OpenSea over to Cardano or something LOL

[abstract sentinel]

Would be nice lol

[cunning perch]

don't go off-topic now boiz 🙂

[hot lynx]

#799010390201466880 Dash 🤣

[lunar quail]

Stake in ilv or sushi lp

[wind walrus]

Your choice.

[clear cape]

sushi lp is plummeting atm, a lot riskier getting in now

[swift spindle]

Plummeting seems a bit dramatic, it's normal for the APY to fluctuate

[clear cape]

Depends if it continues this growth rate

[swift spindle]

Yeah, it depends on a lot of things haha 😛 I'm glad I've got mine locked in so that I can't make any split second decisions as things fluctuate

[ripe steppe]

this was sorted ignore this message lol

[ripe steppe]

12 months staking making diamond hands out of so many that would otherwise have panicked, theyll be grateful for it in a year lol when looking back lol

[swift spindle]

There's certainly no guarantee, but that's what I'm hoping for!

[clever swan]

going from 635% to 565% in 2-3 days was pretty dramatic for me to be honest 😅

[swift spindle]

We all knew that was likely at some point

[vocal fable]

Hi all!
Could anyone clarify how claiming rewards from several pools works?


I have few ILV staked in LP pool with 2x weight and want to claim for the first time.

If I understand it right, then each time you claim from LP pool it automatically stakes the rewards in ILV pool with the same weight so I would have stakes in both pools after that.

Then I want to stake few additional ILV in the flexible pool with 1x weight so in total I would have 3 different stakes.

What will happen next time I claim from LP pool?

Would it automatically claim all rewards, however minuscule, form ILV 2x and ILV 1x too?

Would it be 3 transactions or 1, and if 1 would it be more expensive had I claimed from ILV pools separately?

[ripe steppe]

never claim from the normal ILV pool since u have staked in both (if u claim from ILV pool it claims all rewards in ILV pool at once), better option is to claim SLP pool because then you claim simultaniously in 1 transaction also everything in ILV pool, all rewards at once,,,,,,, as for your rewards, when u claim rewards regardless of the weight of your stakes everything u claim as rewards is automatically locked at 2x weight and locked for a full year

[gloomy gazelle]

!Staking the second half of the video talks about it. Basically there are more transactions when you stake SLP and when you claim/vest those rewards from SLP.

[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

[hazy notch]

ok everyone. I need some strategy advice on claiming ILV vs sILV.
Given when you claim ILV it's automatically staked and helps to boost rewards from there on, do you think it is worth claiming ILV now to boost rewards with the plan to then claim sILV in the future for bulk in game currency later?

[brisk surge]

cant give financial advice but personally i am claiming my ILV to compound my rewards, then am planning to claim sILV later...nfa 😆

[hazy notch]

Yeah that's what I was leaning towards but still sitting on the fence because it's locked in once you pull the trigger. not financial advice lol

[abstract crown]

I look at it as I can always use ETH instead of sILV in-game later on. But I can only compound ILV right now so that my future rewards are that much better.

[brisk surge]

Hi guys, just checking in to remind you all I YOLOd 50k into SLP without having any clue what I was doing. Okay thanks bye

had to come in and flex on us real quick 😂

[hazy notch]

nice.
And when you claim ILV it's staked in the ILV pool, not the ILV/ETH pool?

[abstract crown]

Correct, the claimed ILV goes into the ILV pool at 2x weight for 12 months.

[uneven flare]

This guy will be giving interviews on how he got rich in 3 years.

[open steeple]

hi guys, for a 10k invest in the SLP pool how much times do you think its good to claim? pbbly 2times/month is to much? this fees lately are crazy af

[gusty magnet]

I have 10k and i'm taking out every 2 weeks

guys, dumb question, if I unstake my SLP and then the LP, I get back the same amount of ETH and ILV that I put there, right?

I know it can be adjusted by the impermanent loss

but other than that?

[open steeple]

i have kind of the same doubt, if we cashout we get our ETH/ILV back despite IL ?

[lilac coyote]

Probably every 4 weeks

[lilac coyote]

Same ratio 1:1 in terms of $ value. The SLP token may appreciate in price

[ember basalt]

is it possible to actually swap SLP to USDT?

[clever swan]

Also gas prices are so high these days you need to make sure it makes sense to pay it.

[open steeple]

The delay of the trailler could be a good thing for apy, may give us more time before masses join in

[clear cape]

It is good, no question about it

What isnt good is the misinformation being spread about SLP apy only dropping 3% making people ape in not taking into account any risks

[open steeple]

Myself personaly made an invest that im good in loosing it all, so im not to concerned about the risks, i advise everbody to do the same, be mindfull this is a super high risk/gamble invest in my opinion

[swift spindle]

Definitely would rather have people jumping in that say they are fine to lose it all as opposed to folks new to the crypto space YOLO'ing their life savings or entire emergency fund

[cyan rampart]

Imagine having an emergency fund xD

[brisk surge]

I hold my emergency fund in ILV as a hedge against inflation

[swift spindle]

Maybe I'm speaking from a place of financial responsibility that isn't meant for here 😆

[swift spindle]

I don't necessarily think holding an emergency fund in ILV is wise but if you're fine with losing any/all of it than go for it

[clear cape]

Hope this is a joke lol

[cyan rampart]

Nah you're not wrong haha - I think if you're someone who has made good financial decisions, there's value in having a diverse portfolio, even if it's mostly crypto.

I know for myself, there's literally no reason to not drop every available cent into a project with strong fundamentals. Taking risks is important if you want to get ahead from the bottom, and Illuvium is one of the lowest relative risks in the space IMO.

[brisk surge]

Im pretty diversified but i dont hold much cash at any time. FIAT is not worth anything and its only a matter of time before people realize it.

[clear cape]

You dont use emergency funds as a hedge against anything, that defeats the purpose of an emergency fund lol, it isn't meant to be an investment tool

[clear cape]

Fiat isnt worth anything yet that's the measure we value most in the current world but aight...we literally determine the value of cryptos with the USD value

[cyan rampart]

Fiat is a joke that most people haven't heard the punchline to yet.

[clear cape]

Crypto people make me laugh, we acting like fiat is worthless when everyone in the crypto world will lose their shit if all crypto values plummeted to 0 fiat value

[swift spindle]

As long as you're aware of the risks that's great. Personal finance is personal mate

[cyan rampart]

What would you do if tomorrow Eth decided they were minting 50M Eth to give to big crypto exchanges because those exchanges had lost their funds getting hacked or making terrible decisions? Lose all faith in the system? That's literally how 99% of fiat currencies operate, it's play money that's backed by nothing but people's confidence and historical convention.

I'll agree fiat is still necessary, but it's not because of any inherent value, it's because people are comfortable with it and "it's worked so far." And it has worked - mostly for extremely wealthy people.

[clear cape]

That's all true and I agree with it, but just like your point states, it has value because people dictate it has value. But comments such as fiat being not worth anything is satire to say the least

Crypto is nowhere near any scale at the moment to ever bring comments like that, we literally determine the bull and bear market based against the FIAT value of these currencies

[cyan rampart]

I'm pretty ok with people having no faith in fiat and accepting the risks associated with crypto over the corruption in the banking systems of the world. "Enough fiat to get by" is a decent policy.

[clear cape]

That's fair I guess, if people wish to live their life in that way/gauge their own risks and beliefs

[gloomy gazelle]

Not that I know of. It’s a liquidity pool token. But it’s also an ERC20 so it’s possible I guess.

!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

[short turret]

Is the there a message pinned in one of the channels with links to the exact number of tokens locked in each vault?

[gloomy gazelle]

This is your best bet. #🥩〕staking message

Or just looking up the contracts on etherscan

!contract

[woven ibex]

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

[left wharf]

Very smart. I like what you say.

[brisk surge]

I’m already staking into SLP. I assume If I want to stake more the process is the exact same? There will just be a new lock-in date for my new stake?

[abstract crown]

Yes, sir!

[umbral crane]

This apy rip.

[old walrus]

hey guys what's the difference of staking in ILV and SUSHI LP?

[wind walrus]

Read the pinned info in this channel

[abstract crown]

563% is pretty darn good imo 😄

[swift spindle]

money money money

[remote mauve]

I am staked 50% flex and 50% 2x. So if I was getting example 10ilv a month how much more would I get if I staked 100% 2x?

[cloud quiver]

I understand APY fluctuates depending on price and number of stakers and also decreases every fortnight, but are we unlikely to ever see 700% again?

[abstract crown]

I think we are unless ILV rocket ships

[alpine forum]

hey guys quick question, when staking in SLP at the max locked rate it says token weight 2. I put in roughly $2k do that mean its being counted as $4k?

[proven mason]

What that means is that your APY is double the rate you'd get if you didn't lock at all. However, that "doubled" rate is actually the rate shown on the pool in the first place, and is what most people are talking about when referring to the pool's rate. But in terms of the interest you get, yes, 2k with max lock will get you the same interest as 4k with no lock.

[alpine forum]

Thank you

[high flax]

I staked a little bit of ILV a few days ago in the regular ILV pool but i want to stake some more, can i set up a second active staking?

[proven mason]

Yes, but keep in mind that staking more crypto will force you to claim all existing rewards first. So be prepared for the extra gas fees there.

[high flax]

what do you mean by claim all existing rewards first, so i will have to claim the ilv i staked first before the second or?

[alpine forum]

no you will have to claim the reward from the staked crypto

[proven mason]

Bexel is correct. Specifically, when you hit stake, the system will process a "claim rewards" transaction for you, THEN the "stake new crypto" transaction. You will have to pay gas fees for both.

[alpine forum]

i staked in both the SLP and LIV pool and when i staked in the SLP pool for the first time i didnt make me claim from LIV pool.

[proven mason]

Whatever you do, do NOT claim rewards yourself before staking more. If you do that, you're just paying an extra gas fee, as the staking system will attempt the "claim rewards" bit as long as the rewards are non-zero. This is how I ended up with an instance of 0.00025 ILV as a vesting "reward".

[alpine forum]

how much gas did you pay for that 😶

[clever swan]

with these gas fees I might never claim another reward again 😅

[proven mason]

I forget, but it was probably in the $100 range, given that I staked in the SLP pool (which claims rewards in both pools).

[alpine forum]

thats tough

[proven mason]

Eh, stuff happens. Ultimately it's small change compared to the potential rewards in play, but I'll admit I was really irritated when I realized my error. 😛

[high flax]

So if i stake again, i will be forced to claim the rewards i was already given in my first stake and will pay a gas fee for it?

[clever swan]

if you have slp, only claim slp as it will auto claim the ilv pool/rewards first then claim your slp rewards

[proven mason]

Exactly. Your prior stake will continue earning rewards - the interest there doesn't stop - but the rewards that have already accumulated will be claimed first. And you have to pay gas for that.

[high flax]

what if i stake it in the slp pool instead of the regular ILV pool i am staking in right now, same thing or?

[proven mason]

I believe it would be the same thing, though I'm not 100% sure. In general, claiming SLP rewards forces you to claim ILV rewards, so I'd guess staking SLP would force you to claim ILV rewards first. Although it's worth noting that you wouldn't dodge gas fees that way anyway, you'd have to pay a (slightly smaller) gas fee to purchase SLP in the first place.

[high flax]

alrighty, thanks nicholas

[proven mason]

No problem, good luck with whatever you decide.

[rugged grail]

i have a questionin to know it.
i prepared ILV to staking.
but there are 2 Staking pool
what is these distance..!
How can i know it

[proven mason]

The SLP pool stakes the SushiLiquidityProvider(ILV/ETH) token, which is basically a combination of Etherium and ILV. It has significantly higher interest, with the downsides of impermanent loss (basically, SLP being a combination of ETH and ILV means it may not perform as well as either individual crypto), as well as higher gas fees.

[clever swan]

How much ilv you guys think we should accumulate before claiming it if gas is around 50-60?

[rugged grail]

thank you i understood perectlly!!

[proven mason]

That depends on how fast you accumulate ILV, actually. The rule of thumb I use is that you want the compound interest you're earning from the ILV you just claimed until your next claim to be equal to the gas fee. But if you just want a raw number to work with, I'd say 20 ILV should be more than fine to claim.

[clever swan]

20 ilv? wow that's a lot. I thought people were thinking if fee is less than 10-5% of the reward it was ok to claim.

[rugged grail]

at least 20 ILV?

[clever swan]

I was thinking more like 5 ilv was plenty

[proven mason]

I should probably be more specific. I use that as my rule of thumb because I'm earning rewards at a pretty good clip (I have a lot in the SLP pool already), and under those guidelines I claim about once every two weeks.

[rugged grail]

i got only 5 now... ITS small

[clever swan]

I was going to claim when I have 5 ilv and gas fee is around 50 or hopefully lower

[proven mason]

If you're not investing as much, it'll be much longer between claims, and you can correspondingly claim smaller amounts to still compound effectively. So if I was doing once a month, I'd aim for 10 ILV, and once every two months would be 5 ILV. Even then, my numbers are a bit on the conservative side; mostly because you get sharply diminishing returns from trying to optimize here.

(I messed around with one of the tools for a while, and found in my case that the long-term difference in rewards between claiming once every week, once every two weeks, and once every three weeks was pretty much minimal.)

[rugged grail]

oh thank you so much haha its so detail and kind 🙂 thanks to share your experience and opinion!

[proven mason]

Not a problem. Though this is a case where you'll want to do the math yourself with whatever amount you're investing. I only optimized to "general rule of thumb", and you can probably squeeze out a few more % APY if you optimize for your specific use case.

[steady trellis]

Here is the last version of a calculator with some corrections done. https://docs.google.com/spreadsheets/d/1eupQ4baU_GGR3WAk5fDrQI29O4jJcc_bd9ueaiPk-Gg/edit#gid=1162826494

[brisk surge]

Correct

is it possible that SLP pool go to 100% ?

[granite halo]

It is possible that the SLP pool goes to 10%

[steady trellis]

It will. The only question is “when?”

[charred needle]

Can someone copy the time line

[mint cave]

!timeline

[woven ibex]

The current estimates are:

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

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

[charred needle]

Thanks @mint cave

[kind mortar]

Will the in game revenue be distributed to the sushi LP holders?

[mint cave]

yes, single pool or SLP pool will receive revdis

[kind mortar]

Thanks

[lunar quail]

Can anyone help me quick

I have ilv but can’t stake in slp do I have to buy sushi in order to stake

[gloomy gazelle]

!staking

[woven ibex]

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

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

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

[gloomy gazelle]

!lp

[woven ibex]

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

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

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

[gloomy gazelle]

So take a look at the bot messages up ⬆️ there and hopefully that helps clear things up. Basically don’t buy SUSHI. you use your ETH/ILV to provide liquidity in the proper pool on sushi

The video is great

[lunar quail]

Okay cool I’ll watch the YouTube video

[gloomy gazelle]

Probably you only are interested in the second half

But yeah it’s easy enough to skip to what you need

[lunar quail]

Thank you 🙏

[gloomy gazelle]

Welcome!

[wicked zealot]

Ok then - question

if the ratio changes from 0.14 ILV/ETH to say 1, in a good case

don't we then lose out

[clever swan]

yes but from what I understand only the ilv amount so you need to consider IL if ilv moons harder eth.

[gloomy gazelle]

Yes maybe. Depends on staking apy. Read this… #🥩〕staking message

[gloomy gazelle]

Correct. But ILV side will always be 1/2 of the value in the SLP pool.

[lunar quail]

Because of the eth

So staking I’m just ilv is less risk and less rewarding

[clever swan]

but if IL kicks in it will have same monetary value but just less tokens which means less revdis?

[gloomy gazelle]

Yeah

[brisk surge]

!staking

[woven ibex]

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

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

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

[mint cave]

appreciate the enthusiasm but please refrain from using the bot commands, it isn't intended that non-mods can use them

[brisk surge]

Ok sorry2, well noted

[kindred merlin]

I have a question:
Right now I have some ILV rewards that I can claim. (by paying gas)
When I claim these they will be vested and go to the vested tab for 365 days.
When they are "unvested" after 365 days, will I then need to "unvest" them again to send them to my wallet and pay an additional gas fee? and if so, will I then need to pay this last gas fee for every time I claim rewards, or will all the claims go into a pool, so I can unvest all my "unvestable" ILV at the same time, and only pay 1x gas fee event though I have claimed ILV rewards multiple times. ?
Thanks

[cunning perch]

They will be ready to be withdrawn. But you can keep them there to get Rev and they will keep their weight. If you withdraw them, they will lose their weight and you will not get Rev for them

[gleaming brook]

Noob question: can I withdraw to a cold wallet after staking in either ILV or Sushi LP? Thanks

[cunning perch]

After the vesting or unlocking, you can withdraw to the wallet you staked with. Then you can transfer it anywhere

[gleaming brook]

Thanks, so before vesting and unlocking, I cannot move to a cold wallet?

[cunning perch]

Nope. It'll be staked under the wallet you've staked with. Literally locked.

[gleaming brook]

Thank you! Still learning the rope

[cunning perch]

No worries. Feel free to ask whatever you don't undrstand

[rugged ice]

Hey guys, I was looking to stake my ILV tokens and I've got everything ready on my Trust wallet already. However, when I was going to stake it in the core pool, the network fees was like $160. Just wondering whether this is normal? Thanks, really appreciate it!

[manic spindle]

Gas with over 100 Gwei is pretty high right now. It's annoyingly expensive in general since 1-2 weeks but 100+ is definitively something where I'd wait for it to drop at least to something like 50 which should still be achievable every now and then.

[rugged ice]

So should I just wait and keep trying until the network fees are lower?

[manic spindle]

That is what I would do. Doesn't mean that has to be your decision 🙂

[rugged ice]

hahah alright, thanks man. I don't even have enough Ethereum in my wallet at the moment 😊

[manic spindle]

Also depends on how much you want to stake. If you want to stake 100, 1000...ILV then $40 more for staking don't really matter as much I guess 🙂

[rugged ice]

I'm only staking a relatively small amount (only 2.5 ILV) hahah so the amount of fees in relation is annoying 😦

@manic spindle but these kind of fees are normal right? It's not just me facing it haha

[manic spindle]

At current gas costs, yes.

[rugged ice]

Aite thanks man, really appreciate it!

[ripe steppe]

but also even when all your ILV and SushiLP is unlocked, i dont see why you would wanna move it into cold wallet, the main reason people put stuff in cold storage is for long term holding, and holding it instead staked in the pools long term makes more sense because it will continue to compound forever as even after all yield APY ends you will still be earning from revdis (revenuew distribution of in game purchases) (at least thats what im doing for the long term game)

[manic spindle]

You can stake ILV from a Ledger via MetaMask for example 🙂

I got all my ILV on my Ledger, yet 100% is staked.

[kindred merlin]

Thanks for answering 🙂 is there another gas fee for the "withdraw" event?

[manic spindle]

Depositing, Claiming and Withdrawing all cost Gas, yes 🙂

[cunning perch]

Any kind of transaction (smart contract) needs gas, yeah

[ripe steppe]

if already staked u can still lock your metamask wallet with your ledger so that it cant be accessed without the ledger though right? i hope so cos its what i was planning to do shortly for security

[cunning perch]

For every claim or withdrawal you need you Ledger connected

[manic spindle]

If you have locked ILV then those are bound to your MetaMask. No way of moving them until they are unlocked.

Your Ledger is a wallet itself. Can't move locked ILV to another wallet.

[ripe steppe]

agreed, but if i now linked my metamask to a ledger, as @cunning perch was sorta saying, could i make it so that i cant do any transactions with that metamask without a newly connected ledger for added layer of security

or i have to wait for everything to unlock, shift it all to ledger then restake at 2x weight

[kindred merlin]

So if I claim 10x times for instance. Will I then need to withdraw 10 times too, or can wait untill all the claims are unvested and withdraw them with a single gas-cost

[manic spindle]

That is possible, yes. But only for whatever tokens you have on that ledger. You cannot protect currently staked and locked ILV with a ledger afterwards unless you move them there when unlocked. They are still only on your MetaMask wallet until then.

[ripe steppe]

u can wait for them all to be unvested and pull them at once yes

[gleaming brook]

Thank you, I learned that cold is safer than hot wallet. Was just wondering if I can stake and still keep in a cold wallet. Completely Noob in Crypto stuff

[manic spindle]

Yes, you can stake with a cold wallet like Ledger and connected via MetaMask 🙂

[cunning perch]

For now yes. The question of whether being able to withdraw one time has been asked and the team knows. Still there's time for the rewards to get unlocked, so it's not an immediate issue (the first rewards will start unlocking in July 2022, many might withdraw, many will keep them staked)

[ripe steppe]

also even once they are unlocked, until u withdraw them they still are staked and at still 2x weight so they continue compounding literally forever until u pull them out (obvi any gains after yield distribution ends is only from revdis, but if u literally withdrew nothing for 30 years lol, it would at no point stop growing at some rate)

[gleaming brook]

Thanks. I am ordering a cold wallet now!

[cunning perch]

You cannot withdraw all unlocked rewards at once with one transaction yet.

[ripe steppe]

they will make this doable down the road im guessing or did i just completely flop that one?

[kindred merlin]

Thanks for answering 🐱 It's just quite important when you are calculating how often to claim, I mean the optimal claim frequency will be twice as slow if we need to deal with 2x gas fees.. hope the team will find a solution in time :)

[ripe steppe]

just checked and on ledger ILV is not a supported crypto, so you wouldnt ever actually be putting it onto the ledger, just simply locking the metamask using the ledger?

[cunning perch]

The idea is there. But as the first rewards will start unlocking in July 2022, the issue is not immediate. Also, I wouldn't mind yo have the option of “how much to withdraw” as many might want to have all in one transaction, but not willing to withdraw all, but a fraction of it

[cunning perch]

MM and Ledger is a bridge. You don't need ILV in Ledger Live

[cunning perch]

Well that's the idea of a manual claiming as you are the one who gets to decide when is tehe best time to claim 🙂

[gleaming brook]

Any resource to learn more about this? I am still confused. Thanks

[ripe steppe]

good point, what if someone just wants to withdraw a fraction, hadnt considered, im certain closer to that time they will add optionality and interface on that whole system for sure, seems silly not to

[cunning perch]

you can open your MM extension and check in the option and choose "connect Cold Wallet" and then you have to connect your CW physically and done.

[gleaming brook]

Oh great. Thank you

[cunning perch]

I'm sure they will take care of it. I first asked the question months before staking went live. So the team knows about it. Not Immediate though. still there is time

[manic spindle]

Ledger supports ERC-20 tokens and you simply send ILV to your ETH wallet on it. No need to use Ledger Live. You can do everything via MetaMask when connected.

[gleaming brook]

Ledger means Nano Ledger?

[cunning perch]

there are two. Nano S and Nano X. S is the cheaper version

[gleaming brook]

Thank you! You guys here are awesome

[cunning perch]

No worries. Always happy to help 🙂

[deep trench]

First time Staking, very excited! My question is, when I claim my rewards, while vesting will these ILV compound with the same rates as my original locked fund or at a different rate?

[cunning perch]

the vesting rewards will have a weight of 2X as they are locked for a year and yeah they compound with your stake

[deep trench]

👍👍👍

[manic spindle]

!claim For some more clarity that might help 🙂

[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.

[deep trench]

Thanks

[warped anvil]

Just staked my 0.8 SLP. Man that was expensive (for me) 😵, but I’m excited to start earning ☺️

[modern mulch]

Hi together. Quick question. I am planning to stake in one of the two pools (ILV or SLP) as soon as the gas price goes down a bit. Which one are you currently in and why?

[cunning perch]

Joining either pool or both totally depends on you and you alone. Everyone has different goals and plans and I suggest you make one too before joining either pool. Plus, always take gas into account

[modern mulch]

thanks

[dry pendant]

Hey guys, im all new to nft games. So to begin i would like to play some games that would be similar to this one, with the intention to earn at the same time. So i can put more money in ilv.

[marsh scarab]

Hi guys, I'm new on illuvium, and the ILV price is very high right now. Do you think it's a good idea to begin to buy and stake now ? Thank for your answer and sorry for my bad English! 😉

[cunning perch]

!mc Hey. The price is not high rear. You should compare it to the market cap. Also for token and prove discussion please use #💰〕token

[woven ibex]

Market cap is the total value of a project, calculated by multiplying token price and circulating supply. It is one of the best metrics for judging the value of a project, because token price alone does not take the existing amount of tokens into consideration. Great projects with a lesser amount of tokens often have a higher token price because of the token scarcity.

Always remember that market cap is a dynamic metric that changes every time the token price or the circulating supply of the token changes.

[marsh scarab]

OK thank you for your answer!

[kindred moat]

Hi all I have a question: I am staking ILV in the Core ILV pool. If I want to add more ILV, I am required to claim my reward. Do I also need to claim rewards if I start staking in LP pool?

I don't want to claim reward because the gas fee is much higher than the reward because I am only staking one week

[cunning perch]

Staking a new batch will claim your rewards as well (killing two birds with one stone). To claim SLP you have to pay two gas as you have to claim your single pool rewards too

[kindred moat]

Understood, thank you for helping out

[unique bear]

If I've got flash pool, ILV pool and SLP rewards and want to claim the lot, will that be 2 transactions or 3? Is there a better order to do it in?

[ripe steppe]

Claiming SLP simultaneously claims ILV pool, claiming ILV pool does not also claim SLP pool in one transaction hence why claiming SLP is more efficient and cheaper, i have no awareness about flash pools as I have not used them (but if i was to speculate then id speculate its a separate situation, but i honestly dont know)

[unique bear]

Thanks mate. Part of the mystery solved which I'm thankful for. With the price of gas these days, I wanna be 100% before I make a call!

[ripe steppe]

In the pinned messages of #🥩〕staking theres a super helpful calculator for when its worth claiming rewards because it depends on loads of factors (how much ilv u have, apy, gas price, etc etc…)

[wind walrus]

Question regarding Revdis that I haven't learned yet. How does revdis work with SLP? Is it TVL or only on the number of ILV in your SLP?

[ripe steppe]

Total value, your token weight also helps you with revdis, otherwise equally distributed amongst pools not favouring SLP 80%

[unique bear]

Cheers mate, yeah I've seen and played with that. Just keen on figuring out whether my flash pool rewards will auto claim with the SLP or not

[ripe steppe]

@manic spindle or @cunning perch any of you guys know?

[cunning perch]

Flash pool’s rewards go to the single pool, so it should be like claiming single pool claims.

Only SLP claims both pools ( and costs 2 gas) afaik

[ripe steppe]

But before they have been claimed from the flash pool, if u claim SLP rewards, which also claim ILV pool rewards does that also claim Flash pool rewards into the normal pool or is that an additional transaction?

[cunning perch]

Yeah. Whenever you claim SLP you claim all the rewards...so double gas

[ripe steppe]

Incl flash pool, nice

[cunning perch]

Apparently so. Flash pool shouldn't have another separate reward pooling. But personally haven't used Flashpool really

[ripe steppe]

Yeah that actually makes sense now

[unique bear]

OK thanks guys. Sounds like Max 2x Gas if you claim SLP and it will grab all the rewards from the different pools ILV/Flash

[cunning perch]

It’s the only logical way tbh

[cunning perch]

Yeah. Good luck spending all that gas 😆

[unique bear]

Max 2xgas = $1000USD by the time I get to it though

[ripe steppe]

Dont worry it drops down to $500 sometimes

[unique bear]

I just love paying Gas. Can't wait

It feels like a good bit of charity work and I'll get some good karma one day for being a good bloke

[cunning perch]

Is that supposed to make him feel better? 😆

[ripe steppe]

Supposed to make him laugh 😅

[wind walrus]

Thanks, going to drop another 6k in and wanted to know how that worked before locking in SLP

[cunning perch]

How many times do you drop 6k in? You're a whale dude. Please don't dump on us 😆

[ripe steppe]

Same, waiting for some bitcoin and ETH to unlock over the next 9 days so I can use it as collateral to borrow more USDC to buy more ETH and throw more into SushiLP

[wind walrus]

LOL, far from a whale. I only have about 9k in atm. I learned about Illuvium a couple weeks ago. Bought in at 411, 470 and 490 so far. It's a shame i didn't learn a month prior. My money would have gone a lot further.

[cunning perch]

Still that's a good amount. To infinity and beyond lol

[ripe steppe]

Im 6 days young myself, a month earlier would have been sweet, but also right now is way better than in a month or two, were still early as…

[wind walrus]

Moving 6k from another investment over to Illuvium.

[wind walrus]

If I could have found illuvium a month ago I might be a shrimp. As of now I'm still plankton

[rocky portal]

What happens if you have an existing core LP pool and staked more with LP at a different time? If you claim the unclaimed SILV/ILV in the future, would it count as two separate transactions?

[cunning perch]

Plankton has less than 5.

[ripe steppe]

What are the $ values of the different sea creatures lol

[cunning perch]

Nothing happens. You stake it, it compounds. You can also choose a different time for it to unlock

[wind walrus]

Hell yeah, I'm not plankton.

[rocky portal]

Thanks @cunning perch

[ripe steppe]

Still single transactions in future, just stacks, Al when u stake new it will also put in an additional transaction cos to stake u need to simultaniously claim all rewards so far (happens automatically)

[marsh oyster]

hello why the gas for stake is 140$

[wind walrus]

Eth network is broken

[ripe steppe]

Because its a more complex transaction staking than a normal sending payment from one metamask to another (staking is complex transaction)

[marsh oyster]

okey but what is the minimum can i have for stake

[ripe steppe]

What?

[marsh oyster]

150$ is very high price or its normal ?

[wind walrus]

You can stake as little or as much as you want. Just make sure the gas fees make it profitable. If gas is to high atm then it's best to wait until gas drops

[wind walrus]

Normal for SLP, kinda high for ILV Core.

[marsh oyster]

okey thank you 🙂

can you predict the price of token in 1 year ? x)

[ripe steppe]

Lol no one can

[wind walrus]

Nope, I wish I had that skill. I haven't figured out time travel yet 🙂

[cunning perch]

price in #💰〕token plz 🙂

[marsh oyster]

yes sorry

[ripe steppe]

I predict that in 5 years its going to be waaaay higher than it is now, but i do not have a crystal ball, likely will have ups and downs along the way, volatility is crypos specialty, but no one really knows the future (obviously) (not financial advice)

[surreal vortex]

How can Illuvium pay such high APY from staking.? How can they make any money paying 500%+ for staking SLP?

[wind walrus]

You must be new to crypto, Illuvium is not paying you money. They are rewarding you with tokens

[surreal vortex]

understand it is in ILV but how can they go that high?

[ripe steppe]

Because they are just now releasing the tokens, they started in march, read the tokenomics of ILV

[marsh oyster]

can we use L2 solutions to stake ?

[cunning perch]

No. L2 will be available through IMX (in game)

[wind walrus]

They have to in order to bring new money and attention to the project and to add liquidity to the token. If a token has no liquidity it is pretty much worthless.

[surreal vortex]

got it...thanks

[wind walrus]

Investors that add to the SLP are taking a risk with Impermanent loss so the project has higher rewards.

[lime moth]

I am planning to stake soon, I was wondering, the gas fees is paid per transaction, so its better if i stake everything i want into one transaction rather than stake a bit every week right? Also does the transaction has maximum limit of ILV to be stakes or its open?

[ripe steppe]

100%, all in the sooner the better, the early you get in and as much as possible the higher the reward, DCA has no power here, getting in early as hard as possible is king

[cunning perch]

defenitly. There is no Max or Min ILV to be staked. you can stake as many as you want. You don't wanna pay these gas for many transactions really.

[marsh oyster]

that someone does not have too many eths? x)

[cunning perch]

well....these days ppl gotta DCA for gas than the token really

[burnt viper]

Need assistance,

Can any mod dm me to help with staking my illuvium . I bought on IDO and can't stake my ILV for whatever reason it just bugs out and gets stuck at loading when I press stake. Been trying different days and times over the last month or so. Any help would be appreciated and thanks!

[cunning perch]

send me a dm. let's see what you're going through

[nocturne monolith]

Would I benefit more by waiting until just before the trailer to stake sushi? Since the ILV token will likely be higher then?

[nocturne monolith]

Tokens that can be converted to USD eventually, correct?

[wind walrus]

You can do that now. I was just trying to explain how illuvium was rewarding stakers.

[ripe steppe]

The earlier u get in the better, getting in last month is better than getting in today, getting in today is better than getting in in a months time, (staking and rewards wise especially)

[wind walrus]

7 weeks is a long time in SLP pool. Giving up a lot of APY. You might incur less IL but at the cost of increased token price and lost APY

[nocturne monolith]

I'll get to staking this evening

[wind walrus]

Hopefully you ran some numbers to make sure your investment is large enough to not be eaten by gas fees and claim fees.

[solid quest]

I need to start staking 🤩 Which staking pool would you recommend?

[surreal vortex]

Let's suppose I bought 10 ILV. I staked them in the flexible bucket and did not lock them in. My understanding is that I can withdraw those at anytime. If that is true, can I take those same 10 tokens, withdraw them, and stake them again except I would lock them in for a year?

[cunning perch]

you can withdraw from Flexible as many times as you want and then if you want you can lock them in the core pools

[wind walrus]

Sure, you will just incur gas fees for each transaction.

[cunning perch]

be mindful of Gas, know which pool is better for you and don't let anyone tell you what to do with your money 🙂

[nocturne monolith]

I think mine is worth it based on what I've seen. I have 16 ILV right now but I need to convert some to ETH so I can stake sushi

[solid quest]

Okay, thanks Arash!

[surreal vortex]

Thanks guys!

[wind walrus]

I would say you're ok. I have roughly 9 ILV staked in SLP atm. You will be close at roughly 8. unless you already have some ETH

[nocturne monolith]

The cool thing about this is, if I stake now, 52 week unlock will almost coincide exactly with my work 2-yr anniversary. At 2 years, I won't lose my signing bonus. Looking forward to pursuing other ventures in a year.

[wind walrus]

Could be life changing for a lot of ppl

[nocturne monolith]

Could be for sure. Lots of uncertainty still but I think we can all agree we haven't seen something this promising as far as crypto gaming goes.

And even if the game doesnt grow as fast as we expect it to that's okay. We're still getting rewarded. Extremely unlikely that the game just tanks and becomes worthless.

[wind walrus]

Agreed, not only does the game look amazing but the tokenomics are revolutionary.

[proven mason]

Honestly, the lock-up mechanic for staking is straight up brilliant. Great way to get people to commit to the project and avoid freaking out at random headlines.

[swift spindle]

100%

[wind walrus]

Yep, also induces scarcity in supply.

[nocturne monolith]

I'm mostly excited to see the growth of my tokens but also pumped to catch a rare monster 🔥

[spice fractal]

!staking

[woven ibex]

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

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

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

[manic spindle]

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

[spice fractal]

If I stake to ILV and I locked it for 1year 52weeks. Will I get my reward after 1year 52weeks or after the game was launched?

I’m a newbie to crypto so I would appreciate the help 🙂

[manic spindle]

!claim

[woven ibex]

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

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

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

[manic spindle]

Just saw you already got an answer in another channel as well. Please don't post the same questions in multiple channels. Unnecessary clutter that way 🙂

[spice fractal]

Ok tnx alot

[granite halo]

Have 5 ILV but no eth. I am determined to go into SLP pool. But probably will need another 3 weeks in order to match the amount of eth... should have put less money into AXIE.

[wind walrus]

I sold all my Axies and put into ILV. I didn't have a lot though.

[granite halo]

But my Axies are making me 2000/month currently on a 5000$ investment which is more than a 10,000$ ILV investment will make me per month a year from now according to the current estimates.

[ripe steppe]

Same

[wind walrus]

That is awesome. I only had about 2k and didn't have any scholars. We should probably move this to off topic.

[candid plover]

I would love to see the math behind this statement lmao

[mint cave]

oooookay buddy i'm deleting all your spammed comments

[sullen siren]

Still insane gas prices. I've got .626 ILV to stake but still can't afford the gas fees with .017 eth in meta. I wish this was just a tad bit more affordable in order for the market to expand just that much more.

[warped anvil]

Agreed! I dropped over $200 last night pairing and staking my SLP. I believe heavily in this project, that's the only thing worrying me moving forward.

[sullen siren]

I'm loosing money now with it just sitting and not being staked, and every single transaction I try no matter what time of the day or every 15 mins, whatever, I don't have enough. Starting to make me think the ETH platform might start to get too out of reach for the other quarter of the player base that will be hopping in for the free to play aspect, but then leaving.

[mint cave]

the game will run feeless on IMX, not on ETH mainnet

!imx

[woven ibex]

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

[shadow heart]

Hey everyone, I am new to this can you tell me the difference in the ILV and SLP, is one better than the other one?

[warped anvil]

ILV is the governance token for Illuvium. SLP is a liquidity pairing, meaning you have to pair an equal amount (in dollar value) ETH and ILV

Staking SLP will get you higher yield when you stake around 500-600%

staking just ILV will get you around 70-90%

I hope that helps 🙂

[shadow heart]

Yes thank you!

[indigo plinth]

You need to look at more than just the % APY when staking as the SLP/ETH can have impermanent loss if the price of ETH and ILV diverge. Just make sure to do your own research and fully understand each before staking

[ripe steppe]

@indigo plinth is right theres more to it, before staking in either research both, theres good info pinned on this chat (top right) and feel free to ask more questions and get more details on specific stuff as well, the community is super helpful (the gist of it is SLP is higher risk and higher potential reward, ILV pool is lower risk and lower potential reward)

[shadow heart]

Thnaks for that information, I will try to get a better understanding before I start investing

[ripe steppe]

Good decision

[umbral crane]

bros whats the apy at

[ripe steppe]

On my phone, cant check rn, why lol?

[umbral crane]

same same, jus curious lol

[ripe steppe]

Checking APY to often is not psychologically healthy (not medical advice) 😂

[umbral crane]

lol bored as hell at work

[sinful pond]

If you must know, it's 558%

[umbral crane]

lol thanks

[brisk surge]

i miss my 700apy '

[lime moth]

For a low amount of cash to invest, what could make more sense, 4 ILV vs 1 SLP (not sure if i calculated it correctly to be close to equivalent)? I know they are not equal in value but if i can afford one of the sides, what to go for as a start? I read about both and have a basic idea but considering gas fees, its not easy to make the right decision so I wanna hear some opinions that could help me out :’’), also if some of you wouldnt mind to reveal if they are staking SLP or ILV pool and why 😅

[ruby wing]

1 SLP will generate more yield, but its more risk and higher gas fees

[brisk surge]

IMO it mostly has to do with how long you want to hold the investment. I have some 1 year stakes in the ILV pool that I probably won’t ever sell. My stuff in SLP is a shorter stake since it’s riskier. It depends on what you’re looking to get out of it and how you predict the ILV/ETH pair to weight out over time.

[lime moth]

Aha, thanks for your opinions!

[gloomy gazelle]

!Buy @mint pier

[woven ibex]

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

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

[gloomy gazelle]

!staking

[woven ibex]

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

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

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

[gloomy gazelle]

!lp

[woven ibex]

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

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

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

[brisk surge]

Wish I would have started staking a couple weeks ago when it was 600% rewards. Now it's 'only' 79%. Better late than never 😁

[wind walrus]

SLP pool is still 555%

[gloomy gazelle]

Umm yeah this

[brisk surge]

Yeah I was wondering about that, but then I would be staking SLP token or do I understand that wrong?

[wind walrus]

Correct, to get the highest APY you would need to stake SLP. ILV core is less APY and less risk.

[thin osprey]

Hi everyone, just wanted to ask a possibly simple question.
I am using Deraji's calculator to calculate return for the core ILV pool. it seem due to gas fees, it's not profitable to stake ILV unless you have at the minimum 5 ILV claimed monthly. Am I reading this right? Does this mean it's not worth staking unless you put in around 20k investment.

gas fee at 35$ (which i think may be on average low) but with claiming, priority is very low

[wind walrus]

Still profitable to stake but you won't be able to claim as often. Unless gas fees go down but yes, the amount you stake has a lot of weight to if it's worth it or not

[ripe steppe]

If its higher risk why then also stake it for less time cos they ur still getting the same risk with i guess some oppertunity to pull it out but waay less of the reward that makes the risk worthwhile

[lime moth]

I was thinking the same, I don't wanna all in hard since its my first time dealing with crypto and want to learn with minimum losses, but still questioning myself if investing with low amount is worth it

[swift spindle]

Investing a small amount isn't really worth it with the gas fees in the current state, for example, if you're investing $100 but the gas fee is $80, you'll only have $20 invested

& only $80 in gas fees to swap ETH to ILV AND get it staked would be really low tbh

[lime moth]

by small amount i was referring to 1-2k USD, is it worth it?

[swift spindle]

Depends on the return you're looking for, I went in with $4k. if you decide 1-2k is worth it for you, you'll likely just need to wait longer to redeem ILV to make it worthwhile from the gas fees

No person can/should tell you that "it's definitely" worth it because personal finances are personal, it's a decision that you need to make for yourself mate

[wind walrus]

You can just buy and hold the ILV token. No need to stake if the fees overshadow the reward. Holding just the token would give you a taste of crypto but allow you to have liquidity if you get cold feet.

[lime moth]

I know that at the end it is my decision, I was just receiving more insights from more experienced people due to my lack of experience to help me making the decision 😄

[swift spindle]

I think if you believe in the project and think that it's got places to go, then putting your money behind that isn't a bad idea as long as you're not over leveraging yourself and prepared to lose it all should things go wrong.. Don't invest anything you aren't willing to lose 🙂 If that's 1-2k then so be it

[jade violet]

Hey, how does the amount of the rewards you're getting with staking in for example the ILV pool get decided? And what is APY exactly?

[swift spindle]

You get rewarded in either ILV or sILV (you pick when redeeming) based on the APY of what you have staked. The APY's change constantly

edit: at this moment, ILV is 79.27% and SLP pool is 555%

[wind walrus]

Would be best to read the whitepaper and all the pinned info in this channel.

[lime moth]

I agree with you. I believe that the project has a bright future. I am mainly here as a hardcore gamer, I am looking forward to play the game and grind it, but after having some looks on the token/stake chats, I am attracted to invest and trying it out 😄 just thinking it would make me more comfortable dealing with in game NFTs buying/selling, having a prepared wallet ... etc

[wind walrus]

If playing is a goal then staking is not a bad idea as you can claim silv in order to have in-game funds

[swift spindle]

Have you read the whitepaper and tokenomics info yet? Like Faulty said above, those are extremely beneficial to read for more knowledge

[lime moth]

I read part of it, but I guess I will continue reading it soon 😄

[jade violet]

Can you send me the link of the whitepaper for staking

[wind walrus]

go to the illuvium website, under the "more" tab is the whitepaper

[jade violet]

Alright, thanks 😄

[still kindle]

Its interesting to hear the views of people like yourself Spaon, "hardcore gamers" who also can appreciate the staking/tokenomics side.

[ripe steppe]

Came for the gaming, stayed for the gains - cos why not have both

[still kindle]

Totally agree Vet, Im exc ited about the crossover having come from the Crypto/Staking angle orginally

[ripe steppe]

I came from the crypto staking angle as well, but also was a big gamer in teenage years…. But the only reason I stopped gaming was cos “gotta grow up, stop wasting time and make money” well now thanks to #🥩〕staking can make money being a part owner of the gaming platform (and not to mention play the game and at the end of the day all the time and effort and skill I put into the game actually has a financial value at the end of it all and my time isnt just wasted for nothing (this is why i also believe loads of ex-gamers who had to quit gaming to make money, and now have money, will love this space)

[sinful hatch]

Question for those who may know: When I go into the Sushi LP (SLP) Pool Contract on Etherscan, there is an Overview section on top LHS with a Price and Numberof Holders. The Price is currently $2889.13. Is this price accurate and indicates what I would receive per SLP held if I were to remove from the pool?

[elder dawn]

to my knowledge, it's accurate. and yes, if you sold, you would get half of that in ILV and half in ETH. $1444 of each at their current prices.

[sinful hatch]

cheers, makes sense and it;s good to know how the overall value is tracking. Cheers

[plucky vessel]

yo man does anyone know why the fuck gas has been peaking in the thousands? lmao been watching a bit now and highest i used to see it was like 400 lmao

[ripe steppe]

Cos NFT craze is exploding is the main theory running around (minting NFT’s is very expensive business) and people tryna buy NFTs and selling etc

[real nebula]

gas is obscene

its gonna be like this for a year or more

[balmy zinc]

Dam these gas fees are huge. $200 to just try and stake 1 coin

[plucky vessel]

def wait til night time or just keep an eye on it itll be around 50 at some point and then when u claim also wait til its low

[balmy zinc]

goood idea actually thanks!

I tried to lower the gas fees to like $40 by doing the advanced options....I had 2 failed transactions for whatever reason and I didnt realize the gas fees I spent, go through even though the transaction itself cancelled

[plucky vessel]

shit yeah ive done that myself the gas fees are what they are cause thats what it takes to get it through so when u send with not enough gas it wont make it throught

[balmy zinc]

Spent $60 on 2 failed transactions. xd Somethings are only learned the hard way haha

[trail epoch]

I had a read of the article that was linked to me. So regarding "Impermanent Loss" - if one of the coins loses value then you obviously lose money as you bought in when the value was higher for either coin (same as any crypto). Is this what one should be aware of when staking? watching the candles/value of ILV and Eth and determining whether to pull out from the ILV stake?

However if you are locked into the 12 month you just have to hope the value of each coin either rises or stays stable?

[silver sky]

You ideally want their ratio to remain stable but increase in value together. That's really the golden case. If they increase but ratio changes from your original stake, then you will have suffered opportunity cost compared to just holding without staking

[trail epoch]

What is opportunity cost in simpleton terms?

[silver sky]

So if one coin pumps 20% and the other stays the same, your original holdings would have gone 10% up.

With staking, because it will balance out to maintain 50/50 ratio, in this case your holdings value will go up <10%, probably like 7%.

That 3% gap is the opportunity cost

[trail epoch]

Right I see

Thanks for the info. I'll probably just buy a token and hold it

[covert thistle]

verbivore smells

[silver sky]

In that case you may want to look at ILV staking only. There you will not run into Impermanent Loss possibility and get straight APY

[trail epoch]

Yeah I was looking at the 70-90% returns. How long would you have to stake for to get that? 12 months also?

[silver sky]

Yeah if you take a look at the website that's roughly the current staking APY if you stake it fixed for 12 months. However that rate will go down gradually as well

[trail epoch]

Cool, nice one

[quiet prairie]

Hi guys. sorry for the stupid question. The price of ILV right now is high. is it ok to still buy ILV or do i need to wait for it to go below 500 USD? or it doesn't matter?

[wind walrus]

Price being high is a loaded statement. Close to ath yes but market cap is still low with a very small circulating supply and max supply. We may get a dip in a week or you could think 525 was a bargain.

[trail epoch]

From what I have read, it's still very early days for ILV right?

[covert thistle]

@trail epoch smelly poo

[trail epoch]

Someone ban this guy he's harassing me

[quiet prairie]

Thanks! i am planning to stake this week and hopefully the price wont be that high.

[covert thistle]

oi

[silver sky]

It is not a stupid question, but it's not something anybody can answer you. At the end of the day, if you are bullish on this project and it's token, and you think it has a higher future value than today, you need to personally gauge the risk of waiting and potentially never seeing this price vs getting the chance at a discount

[quiet prairie]

Thanks. Im new at this and i still need to read and study a lot more so i wont regret my decisions.

[silver sky]

With that mindset you are already one step ahead folks that ape into things without a thought

[trail epoch]

I like the idea of locking for a month or so

[hexed roost]

Ask in #token read some of the comments there look at the MC and decide for yourself

[trail epoch]

For me, 42% for staking for 3-4 weeks seems like a worthy investment

So if I stake for 1 week in Sushi LP - I will potentially get 281.66% return on that investment?

[quiet prairie]

That is happening right now in the PVU community. a lot of small investors are now regretting thinking they can have their ROI in 3-6 days. but not with the new patch now. GG.

[young wave]

Disclosure: I am super bullish and I have a non trivial amount of ILV staking. HAving said that, I would look at what Mist did and other games, compare them and make a decision. 🙂 I am in it for the long run to be clear.

[trail epoch]

Long run as in, until release? Or further through development

[young wave]

Through next year.

[silver sky]

You do not get these rates at 1 month, that is annual rate! So in a month you would get 1/12 of that return

[trail epoch]

Okay that makes sense! Thanks

[clear cape]

Dont compare mist to this please, mist is an absolute shit project

[wheat kestrel]

It is nowhere near this extreme. It would be negligible for the example you give.

[abstract rivet]

Omg! GAS for claiming reward at staking are too high! is there any way to pay lower GAS?

[wheat kestrel]

Yeah, it’s been high this week. The simplest answer would be to wait for congestion to die down. There isn’t much else you can do really.

[real nebula]

this is the downside of being on ethereum and not using any of the rollup providers

illuvium will need to integrate with one of the rollup providers (optimisim, arbitrum, starkware, zksync), if it wants to stay on the L1 ETH chain

a bunch of apps, including sushiswap, whose LP we use, are already on arbitrum

https://twitter.com/SushiSwap/status/1432987097783103496

SushiChef (@SushiSwap)

@SushiSwap is now live on Arbitrum with 🍣 rewards deployed on the AMM & Kashi :

ETH-USDC
ETH-USDT
ETH-WBTC
ETH-LINK
ETH-SUSHI

https://t.co/aoFOsbzV62

Likes

365

Twitter · Sep 1, 2021, 8:42 AM

[wheat kestrel]

The actual game will use Immutable X.

[dreamy narwhal]

I'm so confused by the Sushi estimate gas... I'm trying to swap 0.014 ETH to ILV but then Metamask pops up and says the suggested gas fee is 0.02... more than doubling what I'm trying to send... how is that possible?

PS: sorry I'm a noob at this:P

[clever swan]

you guys think we'll see apy over 600% ever again?

[wheat kestrel]

It’s just very congested on the network right now so fees are quite high.

[dreamy narwhal]

Thanks for responding! If it drops from 102 (Current) to like 60, is that going to make a big difference in the estimated gas amount?

[wheat kestrel]

Yeah, it would cut the fee almost in half. Frankly, Ethereum has been super pricey this week so may have to wait a bit.

[dreamy narwhal]

ya:/

[swift belfry]

No we won't see it ever again.

[ripe steppe]

theoretically possible but realistically unlikely

[dreamy narwhal]

Is there a better (lower cost) currency to use as a swap?

[real nebula]

yeah but they could move their pools to a rollup provider

[ripe steppe]

some of the older stakers remember it falling down to under 700 then back up again, so it has happened in the past

[wheat kestrel]

That won’t happen any time soon. Starkware and zkSync aren’t even out. Arbitrum and Optimism are in “test phase”. Arbitrum limited to 85K transactions total right now for example. There is nowhere near the needed transaction volume for that to make sense right now, maybe someday though.

[lilac coyote]

Yeah when I started a long long time ago (4 weeks ago) it was 680% then it went up to 722% before coming back down. Lots of variables at play

[young wave]

Precisely my point.

[cyan rampart]

That's just how many tokens are allotted by the tokenomics of the project. 3M over 3 years.

APY will continue to drop for both pools over time - it's worth reading the whitepaper and all staking related documentation for a better idea!

!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

[cyan rampart]

SLP APY is coorelated to ILV price. You're comparing your combined ETH/ILV liquidity token with pure ILV rewards, so ILV increases mean APY for that pool rises.

Yeah. I also think to some extent, when the price pumps, some people pull their flexible stakes out to sell or just be ready to sell, and that likely increases APY somewhat during price action as well.

[silver sky]

Illuvium zero - land sale

[covert sage]

If you had a million to stake how would you do it?

Do you stake the rewards from the SLP when you get them too and do tx fees matter that much with that size

[indigo wing]

Guys is it logical even if I stake 0,3 ILV?

[cyan rampart]

SLP 1 year lock on half of it, flexible on the other half. Before trailer etc. I'd pull flex stake, invest it all in ILV, and restake some portion of it after price action.

[spring merlin]

If you lock it up for a year might be worth it. Would be easier to say yes if gas was closer to 30/40 gwei. Maybe just wait for an opportunity to stake without too much fee.

[indigo wing]

Hmm I see in these days gas fees are so high. By the way if I stake also I'll get some rewards too right?

[sacred sable]

Anyone know why Metamask seems to be so much higher just while claiming rewards..? Last night it was telling me .06 eth to claim rewards. I know gas is up, but still ...

[exotic igloo]

It over estimate

[silver cave]

Eth is pumping and the network is congested causing gas prices to rise

[exotic igloo]

What you will pay is around 50 to 60% of that

After the transaction is confirmed

Do NOT lower the gas limit manually

[sacred sable]

Ohhh... Yea I definitely tried lowering the limit 😂🤣 expensive lesson learned. But didn't know it would be 50-60 percent. Appreciate the knowledge! 😁

[exotic igloo]

Hahah yea you will get out of gas errors and failed transactions

[spring merlin]

If you're talking about revenue distributions, yes, you'll get those in addition to normal yield

[gloomy gazelle]

Way to help

[cyan rampart]

I'm extremely happy to have some bot access lol

Looking up other people's bot commands and copypasta'ing was tox 😉

[gloomy gazelle]

I’m not sure if you’ll always have access… I’ll keep pushing for it.

Give the community the tools it needs to stay the best

[cyan rampart]

It's just extremely nice for certain questions, and doing stuff like the ilv command is great, because looking it up is horrible (people tend to mention ilv a LOT lol)

[stone sierra]

Question, the rewards claimed in ILV, are automatically staked again for another 12 months., Are the rewards from the rewards then again staked for another 12 months. Example I stake 10 ILV get 8 in rewards then the 8 ILV are staked for another 12 months and the rewards from that are 6 ILV are those again staked for another 12 months. Is it a continuous chain?

[cyan rampart]

Every time you claim rewards, that batch of rewards is a new 12 month stake.

So yeah, rewards from rewards + normal rewards are all rolled into the new 12 month stake when you claim.

[stone sierra]

OK, so the only way i can break the chain is claim sILV, which on has in game use?

[cyan rampart]

Just think of them all as rewards though, rewards from rewards are just normal rewards.

And yeah, sILV is immediate and has use in game, when the game is out. Also sILV is used in land sale.

The "claim chain" re: ILV will technically end at some point, when the yield farm rewards pool is exhausted.

There will exist a "last claim" if that makes sense.

[stone sierra]

Ok, I thought the staking would go past the 3 years of ILV distribution, and they would be distributing a percent of in game sales by the same staking method?

[cinder ibex]

Anybody i can DM as i have so many question about staking and ilv?

[cyan rampart]

Yup, that's correct, but revenue distribution is immediate - Staking when yield farm is over will still have associated token weight (1.0 - 2.0 depending on length of stake), but revdis won't be subject to 12 month vesting.

[wind walrus]

Have you read all the pinned info on this channel?

[cyan rampart]

Just ask here unless it's something extremely sensitive (which you probably shouldn't share with anyone anyways).

We're happy to help!

[stone sierra]

Thank you, so yielding farming ends, but staking continues and the distribution from in game sales will be immediate and not require vesting. Greatly appreciated.

[cinder ibex]

@wind walrus i have read most but some of information are abit too complex for me, and would be rude i think to ask some rudimentary questions about staking and the ilv itself in the chanel

[wind walrus]

Feel free to ask the questions here. Several members are very knowledgeable

[cyan rampart]

This channel is for questions, if something wasn't clear in the pinned info I'm more than happy to help 😛 Sometimes it's just a bit of rewording needed to make something click.

[cinder ibex]

Thanks but i will reread all the pinned info again while working and if i still dont get it , i will drop the question in here @cyan rampart @wind walrus thanks guys

[wind walrus]

NP, there are also a couple of good videos on YT that break it down

[cyan rampart]

!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

[cyan rampart]

(This video!)

[cinder ibex]

Cant watch it while working here in japan but will watch this later thanks!

[proud merlin]

Finally gas fees lowish. 1.38 ILV staked

[lime moth]

Gas fees are a bit low atm yeah but the ILV price is a bit higher than usual, I am waiting it to calm down a bit to start staking (which is a gamble 😅)

[unique bear]

@lime moth what did you manage to get? I see 65 atm

[lime moth]

I am not trying to do a transaction right now, waiting for ILV price to drop a bit, if it ever will 😅

[brisk surge]

Is it better to stake ILV or Sushi LP?

Also at the moment for one transaction is it only 6 dollars?

A little new to all of this what are all of the cons of staking?

[lime moth]

This is a good guide to start reading about staking by Deraji, it will tell you about basics and ILV vs SLP comparison -> https://www.publish0x.com/ilvfi/staking-illuvium-ilv-part-1-staking-basics-xelemgg

[gloomy gazelle]

Unfortunately gas costs are much higher than $6 at the moment

!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

[prisma schooner]

Just dropping this for people to know. August 21 I staked 5k worth of SLP (Half ILV half ETH) and just now hit 2 ILV in rewards.

[elder dawn]

I think a 20% return in 11 days is pretty good.

[prisma schooner]

Can't have access to it for a year, could be even more if ILV Blows up

Considering it gets burned... and will be used for all future games... Long game might be the way

[cyan rampart]

While I'm all for the tokenomics of ILV, no actual ILV ever gets burned (aside from people losing ILV in defunct wallets by accident and the like)
People minting sILV reduces the total amount of ILV that can be minted via rewards, but doesn't actually burn any.

[prisma schooner]

Hmm maybe I didnt understand it correctly then?

[spring merlin]

It's effectively the same in that it reduces Total Supply

[prisma schooner]

So its "converted"

[spring merlin]

It's never minted iirc

[gloomy gazelle]

So only 7million were minted originally.

[prisma schooner]

Ahhh so its not burned, not converted, but never created? As in if none was ever lost, because some ILV is made into sILV instead?

[gloomy gazelle]

As people claim their rewards anything that is ILV gets minted. Anything that is sILV gets minted as sILV and not ILV.

[spring merlin]

Gas in the 60s would be the highest I've ever claimed at but hasn't really been much lower this week

[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]

Yeah it’s been rough. Usually lower on the weekend though.

[serene tartan]

hey fellas,

How much ILV do you wait for (from the ILV-ETH pool) before you claim it for vesting?

[gloomy gazelle]

It depends. But some claim only when the gas fee will be lower than 1% of the value being claimed.

[serene lintel]

You need to have a good plan. There are different methods. Some do weekly, some do monthly, quarterly… never etc

[serene tartan]

what's your plan/style boJangles?

[serene tartan]

1% seems to be reasonable yeah

[serene lintel]

I plan to do once every 12 weeks

[gloomy gazelle]

It’s possible to calculate how much value the amount of claimed ILV will earn before the next time you claim.

[cyan rampart]

Yeah, the 3M yield farm tokens can be minted as EITHER sILV or ILV. There is no long term burn plan in place right now though, if that makes sense.

[remote mauve]

So 1x flex is still 300% apy? Saw a comment on a utube video.

[serene tartan]

i saw someone post a calculator a while back, but couldn't seem to understand it - not sure if it was an official one or one endorsed by the team

Would you have such a calculator that you can rely one?

[serene lintel]

https://docs.google.com/spreadsheets/d/1gj_tPlLzAdeReC0Ne9BcxKN2OJ6xK1nl-9JJ2YW0WWI/edit#gid=259609908

[gloomy gazelle]

Nothing official.

[serene lintel]

nothing is ever official. but that should help you get an idea given the estimated pricing never fluctuates

[serene tartan]

thanks, this seems to be helpful. Noted on that point as well @gloomy gazelle .

[cyan rampart]

1% gas is VERY low IMO. If you expect ILV to appreciate, it makes a LOT of sense to claim early and often - total tokens distributed for staking rewards decrease by 3% every 2 weeks, so getting them staked early means you yield more rewards while they are vesting (while there are still more rewards).

I like to shoot for 10%, but some napkin math I did the other day suggested that anything up to 30% gas to claim ratio is still decent.

[storm cedar]

Is there a max ILV capacity?

[serene tartan]

Thanks for the input. It does seem that it's a personal preference per person and all strategies seem to be viable. i'll crunch some numbers

[cyan rampart]

1% is very safe but I'm 100% sure I'd be missing out on a ton of value waiting that long, esp. with gas prices so high right now.

[serene lintel]

in about 30-60 minutes from now is usually the optimal time for gas fees

[gloomy gazelle]

Count up the ILV you are claiming and do this calculation.

Should be able to figure out how many days it would take to earn back your gas costs.

[gloomy gazelle]

No.

[storm cedar]

Max sILV?

[gloomy gazelle]

It’s the same. You just claim all your accrued rewards as either ILV or sILV.

[storm cedar]

Sorry I am new-ish to crypto… so if there is no max for either token, who decides when/how much more to make? Who is controlling token supply?

[gloomy gazelle]

Oh you are talking token supply. I thought you meant staking rewards

So definitely there is a maximum of ILV

[serene tartan]

10M i believe

[gloomy gazelle]

It’s will be between 7-10 million

[grand osprey]

Hello, do I have to have ETH first to be able to stake?

[gloomy gazelle]

All ILV + all sILV = 10million

[storm cedar]

Ahh okay that you. Sorry for the confusion

[grand osprey]

What if I bought ILV from Gate? Then transfer to Metamask. Can I sti stake?

[gloomy gazelle]

As sILV is claimed there will be that many less ILV

[gloomy gazelle]

Yes

[storm cedar]

Good to know, thanks

[gloomy gazelle]

But you need ETH to pay transaction fees

!staking

[woven ibex]

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

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

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

[gloomy gazelle]

Watch the video here ⬆️

!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

[grand osprey]

So if I have ILV in my metamask. That’s the one I will use for the core staking. Then in the process I will need ETH For the transaction.

[storm cedar]

Yes, there are many transactions that occur during the process. It would be safe to have at least $100usd in ETH to cover transactions

[prisma schooner]

Yes and the gas fee doesnt scale based on amount. So put in as much as you can once and let it ride

As compared to frequent smaller transactions..

[grand osprey]

I see thank you! I’m planning to buy ILV/USDT on Gate then withdraw my ILV to Meta. Will make sure I have enough ETH. Is that ok?

[storm cedar]

Figured this out when I was about to stake, so gonna hold onto my ILV for now until I get a bit more this month then stake

[grand osprey]

Or you think it’s cheaper if I go buy ETH instead then use Sushiswap

[fresh basalt]

is there any website there that tells us how much ILV is being staked (or not in circulation) vs unstaked?

[grand osprey]

Thank u dieziege and pelican

[storm cedar]

Yes, make sure ETH and ILV are in the same wallet

Although the withdrawal to meta will be another transaction. I would try to figure out the best purchase plan with least amount of transactions due to ETH gas

[grand osprey]

Where did u buy your ILV?

[storm cedar]

I had ETH in my metamask, then linked to sushi and bought ILV through sushi

[grand osprey]

What’s the network when withdrawing ILV from gate to Meta?

[storm cedar]

I think ILV is an etherium smart contract/token…. I’m new to crypto but I think I used those terms right

[viscid ferry]

ERC20

[grand osprey]

Thanks

[cyan rampart]

ILV is an ERC20 token on the Ethereum Mainnet

[ashen tusk]

When you stake SLP tokens for 1 year...after the year is over...what do you get back...the same SLP tokens..which you then take back to sushiswap??

[frozen sable]

Can i claim some staking rewards in SILV and some in ILV? Or can i only choose one

[cyan rampart]

You'll have the option to unstake your SLP tokens (which have probably changed ILV/ETH ratio at that point), which you can take back to sushiswap, yeah.

[cyan rampart]

Only 1 reward type per claim, you can't currently split a single batch of rewards between sILV and ILV. You could claim rewards in ILV today, and in 3 weeks (or whatever time period) you could claim rewards again but in sILV.

[ashen tusk]

Pretty much what i figured...i'm 24 days in on the SLP pool and happy to be a part of Illuvium!

[frozen sable]

Okay for sure thank you!

[iron glen]

dayum the only thing stopping me from getting more illuvium now is the expensive ETH, illuvium-to-eth price has actually dropped 10% from the highs, but since then eth-to-usd has gone up 20%, which is what's stopping illuvium from getting cheaper compared to USD

[restive rock]

A familiar face in a different realm… we meet again WizzyWah, hopefully it’s as good as last time😈😈

[viscid glade]

How did the slp staking pool go from 620 to 550% in one week?

[gloomy gazelle]

Huge influx of SLP tokens in the pool

That TVL is way up

[spring merlin]

Yeah I saw a wallet stake 450 ETH + equivalent ILV in the SLP pool a few nights ago. Brought the APY down 20% just with that.

Still pretty great APY but the 600%+ days are likely behind us.

[restive rock]

@cyan river @ashen tusk there’s your answer.

[gloomy gazelle]

https://tenor.com/view/illuvium-ilv-illuviumio-whale-yield-farm-gif-22293367

[viscid glade]

Ok Thankyou, way things are going prob 400 range soon

Which is still really great in hindsight lol, just wen ya had 700 u know

[cunning perch]

oh ILV can disappoint you there 😄 make a plan, stick to the plan and you'll make it

[spring merlin]

The rewards do naturally decrease over time as well. The yield farming is a 3 year period and the rewards reduce every 2 weeks.

[mystic thorn]

Would you recommend buying a staking ilv now or are we supposed to wait and buy silv?

[spring merlin]

Buy and stake ILV, claim sILV when game goes live. NFA of course but that's what a lot are doing

[grizzled kindle]

What’s the site that predicts the profit / loss for slp staking

[mystic thorn]

What is the best to get silv I guess is what I am asking

[cunning perch]

yes, but the Rev you get will (hopefully) be way more than the YF rewards, so in time you won't even care about it

[spring merlin]

That's the plan. There's also a lot of incentive to stake early in the yield farming period to maximize your eventual revdis. Especially true for the sushi pool.

[mystic thorn]

What’s the difference between using sushi swap and something like 1inch?

[grizzled kindle]

What’s the profit loss calculator thing

[spring merlin]

sushi swap is where the official liquidity pool is. Could buy/sell elsewhere but your prices might vary.

[spring merlin]

Only official way to get it would be to stake ILV or SLP and claim your rewards as sILV. Unofficially some people sell their sILV rewards on sushiswap, you can paste the contract address and see if there's liquidity to purchase some.

[mystic thorn]

So when I stake and claim it do I claim it as silv and ilv?

[gloomy gazelle]

@spice cosmos

!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

[gloomy gazelle]

!staking

[woven ibex]

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

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

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

[gloomy gazelle]

!silv

[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.

[gloomy gazelle]

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

[coarse dome]

Hi,all, did anyone ever be charged this gas fee when stake SLP, I stake SLP before, but not such gas fee

[gloomy gazelle]

The top one looks right. And the bottom one is for sushiswap not staking. You may want to check that you are connecting to the proper sites.

!staking

[woven ibex]

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

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

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

[gloomy gazelle]

!lp

[woven ibex]

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

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

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

[coarse dome]

thanks

[spice cosmos]

@gloomy gazelle hey srry for the hold up had to do something just now . Wait so lilke as you mentioned if i provide liquidity using sushi i am staking what kinds of tokens? And how do i get rewarded the in game currency silv through staking?

[grizzled kindle]

Hey there how does the rev distribution work

[manic spindle]

!revdis

[woven ibex]

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

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

[manic spindle]

!read There is some info here as well: #🥩〕staking message and in

[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

[manic spindle]

🙂

[cunning perch]

Whatever you stake (ILV or SLP) you will have to claim your rewards. The rewards will be in form of ILV or sILV and each time you claim you have to choose what you want as your rewards (ILV or sILV). ILV will stay locked for one year after the claim, while sILV is released immediately to be used in game

[grizzled kindle]

With rev do we have to keep the ilv staked to get rev or once staked you get rev forever

[cunning perch]

Rev will be free to claim and is not locked. You can sell/stake or HODL

[manic spindle]

Only staked ILV gets RevDis. If you withdraw, no RevDis for that anymore 🙂

[coarse dome]

do you mean that if I still have stakes, I can withdrawal Silv every moment?

[cunning perch]

As long as YF is up (and you have staked ILV) you can get your rewards in sILV and it will go directly to your wallet after claiming and you can use it in game. It has NO monetary value outside

[frosty pollen]

anyone know how is ILV able to payout such high yield? where does it come from? the treasury?

[coarse dome]

Even if the stake is not expired, the Silv still can take out ?

[cunning perch]

sILV will always be for the claiming as long as Yield Farming is up. After it's done (after 3 years) there won't be any rewards to claim except the Revenue you receive by keeping your tokens staked.

[coarse dome]

ok,I see, thanks

[fresh grail]

With the revenue that isn't claimed yet, does it get 2x revdis or just whatever weight your staked ilv gets?

[manic spindle]

You mean unclaimed RevDis rewards (when those start to be paid out)?

[fresh grail]

Yep

[manic spindle]

I'm pretty sure that unclaimed RevDis will do nothing, just like unclaimed Yield Farm rewards. As you can see here: #814313819185741845 message we just recently brought up the idea of having the option to stake RevDis right away, so it wouldn't make sense to have Carlos deem this a good idea, if unclaimed RevDis already would be staked 🙂

[fresh grail]

Sweet, thanks for the help. Someone here mentioned to me what I said would happen. I wanted a clearer answer from a mod. Thought it was too good to be true. But that idea you put forward is a great one.

[unreal urchin]

Great idea. Compounding revdis lol. Hope they manage to do it.

[spice cosmos]

Oh ok kinda get it now thanks ahahahah

[cunning perch]

Happy to help. Don't hesitate to ask any questions you have 🙂

[spice cosmos]

Yea will do 😁

Oh yea so according to what i have read so far staking ILV long term would be best and like the liquidity pool by choosing flexible would be the safest and most worth it?

[cunning perch]

Well you have to make up your mind and come up with a plan yourself as you know yourself better than anyone. Also in flexible you get way fewer rewards as your tokens are unlocked and you can withdraw them (the rewards will still stay locked for one year after claiming). Locking in core pools gone you more rewards depending on going for SLP or single asset pool

[spice cosmos]

But for the liquidity pool will i be able to gain in game currency even if i locked it in for a year?

[cunning perch]

In whichever pool you stake, you can choose ILV and/or sILV as rewards. You just need to be staked and claim the rewards.

[spice cosmos]

But i wont be able to claim my sILV to be used when the game launches right? As it is locked in the pool for 1 year

[cunning perch]

You can claim whenever you want as long as it justifies paying the gas.

[manic spindle]

!claim sILV is unlocked and transferred to your wallet immediately 🙂

[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.

[spice cosmos]

Hold up correct me if i am wrong. So if i stake for 1 year, and after that 1 year i choose to unstake, and when i claim my rewards it would be automatically staked again?

Srry if i cant grasp the concept very well like im super new to staking ahhahaha heard about it 2 days ago only

[cunning perch]

When the year is done, you can either unstake (lose the right to receive RevDis and lose your token weight) or leave your stake there in the website to receive Revdis and keep the token weighy

[spice cosmos]

Revdis is rewards in ILV rite?

[manic spindle]

Correct. Unlocked ILV.

[spice cosmos]

Ok i understand now but what does the automatically staked in the ILV pool refer to?

• 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

[cunning perch]

Claiming ILV as YF reward stakes it in the ILV pool automatically (AFTER CLAIMING IT) 🙂

[spice cosmos]

Ok got it ahhahaa thanks for your patience guys

[serene tartan]

hey guys, the locked ILV that's vesting - will it be eligible for revdis?

[brisk surge]

Please upgrade you "VESTING" section on the Illuvium website. When I check the amount of ILV that I am staking, I would like to know the value in USD: so please link to a price provider and show also the amount of the staking in USD. Thank you

[manic spindle]

Yes, claimed Yield Farm rewards in form of ILV that are staked and vesting are eligable for RevDis 🙂

[manic spindle]

Probably more something for #814313819185741845 🙂 Less likely to get lost there.

[brisk surge]

ye I tried also there

[serene tartan]

thank you very much

[manic spindle]

No need to put it in all channels though 😉 Deleted it in #863267087715270686 now 🙂

[brisk surge]

ok 🙂

[pine pawn]

Guys I locked my ilv a few weeks ago for 6 weeks. How do I check when it will unlock?

[cunning perch]

you can check the vesting section once you connect your wallet to the website

[nocturne imp]

ive already staked with 52weeek lock.. if i buy new ilv. can i add it to the ones i staked?

[manic spindle]

Yes, you can stake more in the same pool. It will be it's own deposit though, meaning, you can have as many multiple stakes in one pool as you like 🙂

Also, for every deposit, you can individually choose their locking time

[nocturne imp]

i see, thanks for confirming. 🙂

[drifting elbow]

Ok, so I just added Liquidyt to the ILV/ETH pool and got 1.1 SLP tokens on my wallet, now all I need to do is connect my metamask on the ilv core site (pay a fee) and then pay another fee to stake my SLP tokens?

[onyx topaz]

I don’t think you pay a fee for connecting ur wallet but yeah to staking the slp token

[manic spindle]

There usually is a minor fee to approve the contract the first time when doing things like this. It's a one-time thing 🙂

[drifting elbow]

This is connectin fee transaction ID: 0xe1849b541a4d8ab43b1604a12f8839ef803d219d90083023f2b2744192b416db
Cant't view it on etherscan too, I've already tried like 5 times by now, with some minutes apart from eachother

[open steeple]

one doubt, if i never withdraw my liquidity on the SLP pool i will never have IL until i withdraw rigght?

[drifting elbow]

I think so, all the reward from the SLP pool comes as ILV, staked onto the ILV pool

[sonic wolf]

ughh this gas, 1200$ to claim lol

[drifting elbow]

Why doenst my transactions appear on etherscan....?

[sonic wolf]

for how long?

[drifting elbow]

for some good 30 minutes by now

[rocky portal]

anyone know why APY for Sushi LP was est 700% around 2 weeks ago and now it's dropped down to est 550%?

[signal wraith]

It goes down the more people that get in it. Also goes down with time.

[clear cape]

Because lots of people are joining it, it's most likely gonna keep going down. As time goes on, the risk/reward on SLP becomes worse

[marsh oyster]

what is the fee for unstake

[rocky portal]

Does that mean if you originally staked at let's say 600%, your returns are subject to be diminished still over time as more and more people stake?

[clear cape]

Yeah it might bump up a bit for short period of time, but over the long term, APY rewards will keep diminishing.

I'd argue we would hit a stage where locking in for 12 months might not be as worth it anymore since your liquidity will be better elsewhere, unless you got a big enough bag to take this more safer route due to getting paid out in revenue distributions or something

[rocky portal]

Thanks mate, I appreciate it

[pale walrus]

For the SLP staking - upon completion of the 52wks will it automatically release the staked ILV and ETH?

[wind walrus]

The unlock button will light up allowing you to unstake if you choose. You don't have to and can keep it there as long as you like. It will keep the 2x weight as long as you don't remove

[pale walrus]

Thanks and if unstaked it will be split back into our wallets with originally staked ETH ILV

[sacred vigil]

if i stake all my ILVs and lock them away for 1 year i still can swap them to sLIV to play the game right?

[manic spindle]

ILV is not used in game at all and sILV can only be received if you claim it right away as your yield farm rewards 🙂

!ILV

[woven ibex]

ILV is not needed for gameplay in any way. Instead it has three main functions:

Governance:
Together, we have the power to shape the future of Illuvium through our community collaboration on game improvement proposals as well as electing the initial model of governance, the Illuvinati Council.

Liquidity Mining:
Here, you will gain more ILV (or sILV). Additional ILV will increase your voting power in governance & increase your share of vault distributions.

Vault Distributions:
When you stake ILV, you share in Illuvium's success and earn a passive income of additional ILV, funded through in-game purchases and fees. Vault distributions will only be available from sales and once the game and Illuvidex are launched.

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

[wind walrus]

Not original. It will be the value of SLP divided between ILV and ETH

[sacred vigil]

so i stake 10 ilv and cant use them ingame when the game launches?

[wind walrus]

Silv is an option you can choose for staking your ILV. You can choose ILV or Silv. If you choose silv as reward then it is unlocked and usable as in-game currency

[manic spindle]

Correct because ILV has nothing to do with the gameplay. It is the governance token as described above. Main currency is ETH and for some fees sILV can be used as a substitute also 🙂

!silv

[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.

[odd wren]

Hello

[wind walrus]

You don't need ILV to play. ETH is main currency but if you stake you can choose Silv as reward instead of ILV and kinda play for free.

[open steeple]

could you explain this better please, when you say the value of the SLP you mean the value of the SLP(50%eth+50%ILV) at the time of the cashout/unstanking?

[wind walrus]

Yes, SLP needs to keep a close 50-50 match. So if and when you decide to remove SLP the amount of ILV - ETH could be different than when you staked.

So if you staked 2 ilv and matching eth, you may get 1.7 ilv and matching eth. But you have more eth than you bought to match value of ilv

[open steeple]

i will always receive the same amount in tokens but the $ value its diferent that why IL occur is that it?

[silver sky]

The token amounts will change as well, to maintain that value parity

[drifting elbow]

Have any of you ever had the issue of your transactions ID's not being created or found in etherscan?

[silver sky]

So if 1 token overperforms, you will get less of that than you staked, and you will get more of the underperforming token than you staked

[open steeple]

been trying to understand this better for the past two weeks, but its hard for a noob like me, but im getting there ty guys for all the help

[lime moth]

I have read before that people lost gas fees with a failed transaction, how do i avoid it? Is it because they set gas fee to low? Because according to the staking guide, it was mentioned that we can set gas fee to low and whenever this gas value is reached then the transaction happens automatically. Am i missing something?

[ripe steppe]

Setting gas fees too low mainly, dont be cheap basically, if gas is too high its better to wait for it to drop than just setting it lower (u can set it lower and it can work, but also can end up stuck for a very long time). As my grandad used to say “were not rich enough to afford to buy cheap things” cos cheap always costs more in the long run lol

[lime moth]

I thought it might be cheap and guaranteed 😄 thanks for clarification 😄

[rich timber]

I like this saying. Too few people realize this

[untold lantern]

can i used this quote in the future?

[ripe steppe]

Use this quote freely, I’ve endlessly found it to be just highly accurate in a lot of situations @rich timber

[meager hemlock]

Does this include both gas payments (claiming & adding to stake) ?

I have 0.41 Sushi LP staked want to add additional 0.6

[untold lantern]

Yeah its so applicable in our life

[drifting elbow]

Is there any kind of support to help me connect my metaMask to the staking pool (pay the small initial fee)?
I think I'm doing everything right, but the transaction ID I'm given, doenst even exist in etherScan

[nocturne monolith]

this is what i want to see when i add liquidity right??

[swift spindle]

Yes, you have to allow access to the wallet before you can stake it

[cunning perch]

SO you have ILV and ETH in your wallet and now want to stake? in which pool?

[drifting elbow]

I already added Liquitidy using both ILV and ETH to get some SLP tokens
I want to add those SLP tokens onto the SLP ILV/ETH pool.
Positive, I got SLP tokens in my wallet

[cunning perch]

so have you received SLP token in your wallet after adding ETH and ILV to sushi pool?

[cunning perch]

so you have the SLP and now have to connect your wallet to the ILV website and go to core pools and then add to the SLP pool

[drifting elbow]

Thats right, but after I try to connect my walled to the ILV website, I get prompted to pay a gas fee, but even after I choose to pay, my metamaks keeps it pending forever, and also, I dont get to see the transaction on etherScan

[cunning perch]

hmm. so when you want to pay the approval fee, when you open your MM, can you see a "speed up" or "cancel" button in the activity section?

[drifting elbow]

Yes, I can only see a "cancel" button too. I'm also sent a etherscan link by MM, but the link is broken (it opens up etherscan website, but says theres no such transaction with that ID)

[cunning perch]

so if you see a speed up button, try speeding up. You can also cancel it, but it might cost gas. SOmetimes it takes a while (not long) for the transaction to get on ETHscan website.

[drifting elbow]

But theres no speed up button. only cancel

[cunning perch]

So if it's pending, wait for it a bit. If not you have to cancel I guess. Did you have enough ETH in your wallet to pay for gas?

[drifting elbow]

I have 250 dollars worth of eth in my MM.
Ill be honest with you, I've already canceled and tried again like 5 times by now.... maybe I will end up eating all my dollars...
What makes me the most upset, is that the transaction ID doenst even show up in etherScan

[nocturne monolith]

my confirmation says it will take less than 1 hour and has been going for 7 minutes

[cunning perch]

Ah, be careful that these transactions might eat up your ETH. I don't think approval uses as much as staking. I don't really know why it's not showing as it's an ETHscan thing. I don't think it's from the website, but I could be wrong. if you cancelled, wait a bit longer then try again after having refreshed everything. Might work

[cunning perch]

if you don't speed it up it might take more than an hour. Be ready for anything

[nocturne monolith]

not sure how to speed up on etherscan?

[drifting elbow]

K, I will wait a whole day, its just frustating I have been trying to do this since gas was like 60 gwei, some good 4 hours ago. And it has already gone everywhere by now.

[nocturne monolith]

there we go, it’s complete! time to stake yall!

[cunning perch]

you don't. you have to speed up using MetaMask

[cunning perch]

yeah I understand your frustration. try doing it on Sunday. Gas might be cheaper then.

[cunning perch]

congratz.

[nocturne monolith]

why is my estimated spy 285? i thought it was like 700 something

ahh nvm gotta extend the lock period

gas just flying right now, trying to stake as we speak

[cunning perch]

not flying really. it spikes between 70-100 these days. Sundays MIGHT be better for any transaction really

[nocturne monolith]

it’s at like 165 right now for my 52wk staking transaction

[carmine drum]

Not sure how you guys check the gas, I sometimes see the gwei is about ~20 - 30 displayed by our gas bot.

[cunning perch]

shit. It's moon time alright. Gas or otehrwise lol

[cunning perch]

Well gasnow.org also shows gas in detail. our gas bot shows the normal gas imo. Staking def needs more

[rustic forge]

hey guys, sorry if this is a stupid question, so i have eth and ilv 1=1 in sushi, in order to get silv and slp i can just forget abt it untill the game comes out right? like the silv and slp will just increase little by little and i can use silv during the game. sorry if this does not makes sense. but please help thank you

[cunning perch]

Hey I think your info is a bit mixed up. when you stake in either pool (SLP or the ILV pool) you get YF rewards. These rewards are in form of ILV and/or sILV that you have to choose each time you want to claim. Claiming ILV, locks it for one year and compounds to the stake weight, but claiming sILV releases it to your wallet immediately to be used in game and therefore sILV has no monetary value out side the game and compounds to nothing. You can claim sILV whenever you want really, but for now, it has no use case.

[nocturne monolith]

2.93 slp just staked and already earning! let’s go!

[manic spindle]

https://tenor.com/view/one-of-us-gif-11131756

[rustic forge]

ohhh so my thingy is getting YF rewards and i can claim it whenever right? if i want to claim it for ilv and lock it that ilv will not add on to my first ilv that is already staking correct? the YF reward amount is depending on my staking right? so if i claim ilv and stake that collecting YF rewards will be more. is my understanding correct? thank you for reply btw

[manic spindle]

!claim 🙂

[woven ibex]

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

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

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

[cunning perch]

No worries. Simplest version is that: you stake, you get YF rewards. Then You choose whichever reward (sILV or ILV) whenever you want. Gotta have to pay gas though. ILV will stay locked and compounds to your already staked ILV, while sILV is ready to be used in game 🙂 and you can read the message stormi sent above for more clarity 👆 🙂

[rustic forge]

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""'' what does this means?

[cunning perch]

you claim ILV as your rewards.....it gets locked for one year in the ILV pool.....it gets the weight of 2X (literally counts as 2)....and is added to your ILV stake. It's like you have bought and staked more ILV. So it gives you more rewards. Remember that your have to CLAIM them to start their one-year locking period

[rustic forge]

ahhhhh i love this group thank you all☺️ ahhh wait if i stake that claimed ilv do i need to add eth like that 1=1 thingy?

[cunning perch]

haha no. Claiming is just a botton. you push it, pay gas, and it automatically stakes the claimed ILV (and will stay locked for one year) 🙂 unless you claim sILV, in which case it moves it to your wallet directly and you can use it in game

[meager hemlock]

#🥩〕staking message ?

[cunning perch]

if you're claiming SLP, then you have to pay two gas (one for SLP and one for ILV pool)

[meager hemlock]

I know. What I'm asking does the gas in picture is just for ILV rewards? or BOTH?

[cunning perch]

New staking should automatically claim your unclaimed rewards as well, but I don't think it'll claim SLP. Not sure. @manic spindle you know?

[meager hemlock]

I have 0.615 SLP in metamask which I want to add

[manic spindle]

Not sure, sorry. Might be something @exotic igloo knows with certainty.

[rustic forge]

whats the benefit of claiming slp? 🙃

[meager hemlock]

When I try to add new stake, it ask to claim in ILV or sILV when I press ILV I get this

[cunning perch]

it's for the ILV/ETH pool. (providing Liquidity for more rewards)

[cunning perch]

so you have to claim your ILV rewards to be able to have new stake then. This is literally asking you to claim your rewards.

[meager hemlock]

So the question is will after claiming ILV rewards I will need also pay gas for adding 0.615 SLP to stake or is it already included in picture above?

[cunning perch]

yes. each Transaction requires gas. In case of SLP, you always pay more gas

[meager hemlock]

but why $178 Gas just for claiming ILV? isn't that too much? at the time of picture fast gas was 63 GWEI or something

[rustic forge]

if you dont mind me asking how often do u claim? and do claim both at the same time? what is the best way in ur experience?

[cunning perch]

gas changes by the seconds. it's more than 100 GWEI now

[meager hemlock]

picture is taken ~60-70 GWEI

[cunning perch]

there is a calculator in the pinned messages that can help you. I myself wait for a decent amount and then claim when gas is justifiable 🙂

[rustic forge]

how much is justifiable gas rate?

[cunning perch]

Claiming and MetaMask use more gas. It's been said that MM uses higher gas than normal

[cunning perch]

now, it's just insanly high. These days anything between 20-40 GWEI is justifiable depending on the amount of rewards you've got

[rustic forge]

ahhh okay thank youuuu

[meager hemlock]

anything between 20-40 GWEI
?? Max I have seen watching gas past 4 or 5 days is 55 or something never lower these numbers maybe were available 3 weeks ago or something

[cunning perch]

two Sundays ago it dropped to sub 20

[elder dawn]

I'm in the process of writing up a more detailed explanation and collaborating on a calculator to help with this, but the real question you need to ask yourself is "will the interest i earn on my claimed rewards be worth more than the gas that it takes to claim them?" that's the answer to is it worth claiming right now

[rustic forge]

lol i just realized that low GWEI looks sexy in my eyes 😆

[cunning perch]

Well it's definitely a killer lol and empties your pocket if done unwise and unplanned

[meager hemlock]

Anyways so basically if I claim ILV ~60GWEI and add SLP to stake I will need pay like $300 - $400 in gas? Just for ILV alone claming it said ~180 $

[cunning perch]

yep. That's what gas is at the moment. Esp for SLP. So I suggest exercising patience and maybe try on Sunday! well, unless you're ok with paying 300-400 for gas ofc

[primal zodiac]

Which is the better staking option out of the two?

[cunning perch]

totally depends on you and you alone. You have to plan and see what's best for u. One is good for one person, and the other is good for another

[primal zodiac]

Where is the best place to see an overview of the pros/cons of each?

[cunning perch]

!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

[cunning perch]

!staking

[woven ibex]

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

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

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

[rustic forge]

yesss. i got into this abt 2 weeks ago and did not have time to think abt claiming. i appreciate all of u rn 😊

[gloomy gazelle]

#🥩〕staking message this is a good set of articles

[void turret]

Where can I start staking?

[cunning perch]

you can literally read about it two messages up 👆

[ripe steppe]

Illuvium.io

[void turret]

Thank you

[granite halo]

Wait... claiming costs 300 usd in gas for SLP pool at only 60 gwei?!?

That seems absurd. That isn't the price at like 200?

[rustic forge]

u said its best to claim on sundays right? around what time ?😆

[cunning perch]

No. he wanted to claim and stake another batch of SLP as well

[granite halo]

Ahh. That could be pricey. Still, wouldn't expect that much at 60.

[cunning perch]

gotta wait and watch the gas. It's no definite answer. It's a matter of MIGHT

[primal zodiac]

I can't seem to wrap my head around impermanent loss. If ETH goes up faster than ILV, then you will be worse off than if you just hold?

[cunning perch]

gas is absurd these days. The highest I used to pay was $13 for claiming before EIP-1559 went live

[mint cave]

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

this helped it click for me the first time around

[elder dawn]

my last claim at 43 gwei was close to $70 for the SLP

[primal zodiac]

Thanks

[granite halo]

Yeah, if you weren't getting 500% APY you would come out with less than you put in with IL

[cunning perch]

yeah. my $13 claim means I haven't claimed for a looooong time haha 😄

[elder dawn]

check out the second pinned message for my blog - i just wrote a bunch to actually understand IL with Illuvium staking specific examples

[meager hemlock]

no but that is just for ILV claiming there is no SLP claiming in that gas calculation as far as I understand it

[granite halo]

No way ILV only claiming can cost 300 USD at 60 gwei...

[cunning perch]

I don't thinkk 60 GWEI equals $170 just for a simple ILV claim, then. it should be staking your SLP as well

[meager hemlock]

I'm watching this - https://youtu.be/C6YugU4zZr4?t=757 - but there gas payment opens numerous times, now im realy confused how many times I will need pay

[primal zodiac]

So with impermanent loss, the more the 2 values move apart from each other percentage wise, the more you lose? And you have to determine if the rewards will outweigh the loss?

[elder dawn]

exactly. divergence loss is a much better name.

[meager hemlock]

it said $177 and max GWEI said 78 or something, at the time fast GWEI was 62 or something

[cunning perch]

look at it this way: ILV pumps hard, the pool sells it to keep the balance with ETH and ILV in terms of $. so you lose your ILV to ETH

[exotic igloo]

You will pay 2 transactions @meager hemlock

1 if you never claimed

[meager hemlock]

I have never claimed

does it then means that there will be only 1 gas payment in this moment? see - #🥩〕staking message @exotic igloo

[exotic igloo]

It should

[elder dawn]

in part three of my write up, i do examples that I call bullish divergence (ILV goes up relative to ETH) and bearish divergence (ETH goes up relative to ILV). Since we're rewarded in ILV and rewards are higher right now, it is much worse overall for ETH to pump relative to ILV.

[exotic igloo]

If you cant afford 2 transactions you should wait

[wind walrus]

Your first SLP claim will be one TX. All subsequent claims will require 2 TX

[exotic igloo]

And get more eth

[primal zodiac]

I don't know if Im understanding this wrong, but it seems almost impossible to lose money if the APY is around 500%? Unless ILV goes to 0

[meager hemlock]

was this referred to me?

[elder dawn]

The other key thing for IL (or Divergence loss) is it's not necessarily losing money - its losing money relative to hodling. that's actually what it shows. you are correct - unless ILV really tanks, its tough to truly lose money now (aside from gas fees, see the rest of this channel right now). the question is should you do the SLP and lose money relative to staking in the ILV pool or just holding.

[meager hemlock]

I think so too, seems way too high, just want to be sure

[cunning perch]

well. if that's what the website is asking you, plan for the cheaper gas and claim. SLP always needs more gas nd therefore is always more expensive

[primal zodiac]

Do you you earn rewards on both eth and ilv when you stake? if i done $1000 of each for example, do you earn rewards on $2000 or just the $1000 ilv?

[elder dawn]

you get the SLP APY on the whole investment - $2000. just remember APY is dynamic, and can go up or down. generally the pool has been growing, so it has been trending down

[wind walrus]

He might be referring to RevDis

[elder dawn]

you get both staking rewards on the whole amount - rev dis is going to be tied to the number of ILV you "own" in the pool, and it will include your lock up weighting. at any given time, half of your value is in ILV, so that sets your number of tokens, and chances with price

[primal zodiac]

Nah I was referring to SLP. Just trying to decide which is the better route to go out of ILV and SLP staking

I guess what I'm trying to understand is what needs to happen in order for SLP to be worse than ILV

[elder dawn]

if those were close to the actual levels you're thinking of investing, its going to be close. rewards are nice, but gas will be your killer. its such a high percentage of investment at the moment, and it costs more to stake SLP than ILV, and more to claim each times as well.

[primal zodiac]

Right, so SLP becomes more worth it if you are investing more?

[elder dawn]

yes. to me more importantly, gas becomes a lower percentage fee the higher you go. for all the other reasons we discussed, risk is also greater, but rewards help make up for it. all of this isn't investment advice, but hoping to help you understand. for what its worth, i'm in the SLP and happy i'm here, though my investment is higher than the $2000 you listed, and I've been in for a month.

[primal zodiac]

I dragged my feet a bit too much, wish I'd pulled the trigger a month ago too! I hate to buy a coin at ATH, but really want to get into this project

[glad sleet]

what is the long term timeline for yield farming, is there an "end date" for the YF contracts?

[elder dawn]

its 3 years, 3 million tokens. decays 3% every two weeks. ends mid 2024

[umbral crane]

APY?

[glad sleet]

can you point me to the reference for this? was it a medium article?

NVM! just found it in Medium #29

[elder dawn]

it happens. i also didn't think we'd essentially have an "only up" ride on price, and I added to my stake at a considerably higher price part way through just as I had more money available

[glad sleet]

I am not a very good OG if I can't remember to read the medium articles first. 😆 what a disgrace.

[elder dawn]

i also have a couple articles in my blog on staking and tokenomics. i get more opinionated in mine than the official medium blog😋

[mint cave]

tsk tsk

[primal zodiac]

It feels like because the staking rewards are so good, everyone has locked their coins in. And with the game not even out yet, no real reason to sell even if you aren't locked in

[glad sleet]

I am ashamed of myself. will blame it on lack of coffee this morning.

[cunning perch]

tell that to those who are selling lol

[mint cave]

completely reasonable, then

https://tenor.com/view/coffee-time-fry-futurama-gif-12105433

[primal zodiac]

How often do you have to claim rewards?

[mint pier]

I would like to make a question if someone can help me because I am confused, if I own ilv can I sell it and if yes where ?

[mint cave]

you claim as often as you like

[primal zodiac]

Theres no time limit on claiming? So I could let them build up thus not having to pay multiple gas fees?

[mint cave]

gas fees vs. claim amount determine when most people claim

[mint cave]

no time limit, but remember while they are unclaimed, they don't generate additional yield

[primal zodiac]

Gotcha

[abstract crown]

There are a couple of calculators in the pinned comments that help aid in deciding how often you should claim, based on your APY and initial investment. They aren't perfect honestly, but it can give you a broad idea of when is an ideal time.

[glad sleet]

ok so another question, again if I am missing information in an article, please redirect me. But after the YF contract is up, I assume revdis will continue to go out to staked tokens, but those tokens will only be staked to receive revdis and no additional interest?

[mint cave]

that's correct

[glad sleet]

so after the contract ends and all my tokens are unlocked I can move my tokens and restake with no "penalty" to my revdis, the weight is only applicable to the YF and not to revdis?

[mint cave]

weight is applicable to revdis too

realistically, if you're a "forever staker" kind of person, once 1 year long lock expires on your tokens they will stay at 2.0 weight unless you unstake/restake

[primal zodiac]

What is revdis?

[mint cave]

!revdis

[woven ibex]

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

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

[glad sleet]

Balls. Okay. So unstaking and moving them will put me back to 1x on revdis. I wish I would have been smarter on what wallet I locked my tokens on lol.

[primal zodiac]

and the revdiv applies to both ilv and slp staking?

[mint cave]

well you can unstake and lock for a year again to get the 2.0 weight

[mint cave]

yes

[glad sleet]

true. that may be the right path. I have a while to decide haha.

[glad sleet]

so in theory I could let my revdis pile up and then stake and lock them for 2x as well?

[mint cave]

you could, yeah

[mystic thorn]

Jeff! do you see gas prices right now!!!

[primal zodiac]

How much does the entire process cost right now in fees? Transferring eth to metamask, buying ILV and staking it. Roughly

[mint cave]

👀

[mystic thorn]

i would say roughly 150$ atm

[primal zodiac]

Yikes

[mystic thorn]

its a little high right now 😆 you can see the price on the side of the discord its a bot called gasTracker

[primal zodiac]

when immutable X 😆

[lime moth]

Has anyone done the staking process from an iphone? I am out of home for the next few weeks and I wanna start staking, I found binance app in the store but metamask app seems to have a bad review here (2.6) with people complaining about it. Is there any other good wallet for iphone? Is the process of moving coins from Binance app to that wallet then to illuvium and paying gas fees will all be smooth? 🤔

[mystic thorn]

I wanna say your best one for Iphone is gonna be 1inch

[next ruin]

Nice

[mystic thorn]

thats nuts man! that from staking 52 weeks i assume?

[primal zodiac]

What is considered a "good" gwei level nowadays?

[next ruin]

I've got a very small bag locked long term in the SLP pool for a couple weeks.

[mystic thorn]

thats amazing props to you man

[nocturne monolith]

you know what’s cool? seeing you’ve made .02 ILV ($10) in just over an hour 🙂

[next ruin]

https://tenor.com/view/it-just-feels-great-steve-carell-saturday-night-live-snl-it-feels-good-gif-17597461

[glossy dirge]

you pay 2 tx for claiming rewards right?

[next ruin]

If you are staked in the SLP pool, yes. 1x for first claim, 2x as soon as you have SLP & ILV pool rewards accruing.

[lime moth]

I wanna say your best one for Iphone is gonna be 1inch
@mystic thorn have you tried it? I see it has no enough rating/review on the app store 😅

[glossy dirge]

i stake both slp and ilv. so that means twice,. hahah

[primal zodiac]

which one is performing better so far?

[nocturne monolith]

It will always be slp due to rewards. I guess I'm not sure what the advantage is to staking both??

[brisk surge]

SLP is subject to impermanent loss, thus the core ILV pool is much less risky at the cost of significantly less rewards

[glossy dirge]

In terms of rewards earned Slp for sure. At 1.5 slp, i roughly get 1 ILV every 5 days

[primal zodiac]

Thats insane. When you say 1.5 slp, 1.5 eth or?

[glossy dirge]

I did 60-40 slp to ilv

[glossy dirge]

When i staked mine, at the time it was $2k ilv and $2k eth to get 1.5 slp

[primal zodiac]

Nice, how long ago was that?

[glossy dirge]

2 weeks ago i believe

[primal zodiac]

Thats crazy returns. Did you lock it in for X weeks?

[glossy dirge]

52 weeks

[hidden mountain]

I am having troubles trying to stake ILV through MetaMask. I keep getting the msg: wrong network, although I’m on the ETH mainnet. I’ve terminated all active sessions in hope that it would fix it but still thinks my wallet network is something else. Any suggestions? iPhone btw

[stray eagle]

Hi, With 3 ILV tokens what would you do fos staking?

All to flexible or mix?

[brisk surge]

I strongly believe in the project so i staked all of my ILV in the locked pool rather than the flex one to take advantage of token weighting...nfa.

[stray eagle]

How much time?

[granite halo]

Wtf. You are getting 1 ILV every week with 4k invested in SLP pool?!
I shoul just jump in.

[brisk surge]

i locked for the full 52 weeks, or one year.

[brisk surge]

at the current APY. apy is going to drop over time

[stray eagle]

And how much do you get for 3 ILV tokens?

[granite halo]

I am over here with 5 ILV just sitting in my wallet because everyone said gas will be too much and the minimum you should be putting in the SLP pool is 10k ...

[wind walrus]

I started with 3400. Received 1.34 SLP. The main issue is claiming cost and IL

[brisk vector]

Who said that? You just claim less often with a lower amount invested

[granite halo]

Yeah fck it. I will drop in 2500 in eth at the end of the month and stake 5k, and just claim 1/month.

Hopefully we are still above 400 APY in 20 days lol

Feels like we will are going down 50% a week.

[wind walrus]

We just went up 4% with token price increase. Make that 6%, I just checked

[granite halo]

So the legends are true.

APY really can rise. If we hit 700 USD+ it could possibly go back to 6xx%.

[wind walrus]

Not sure it will ever hit that again because we still have the 3% fortnight reduction but token rise will help offset it

[brisk vector]

Over time it will definitely fall. You just have to figure out what you think you'll average for APY over whatever period you're looking at. Even averaging 2-300% over a year on top of compounding with the claimed ilv is nuts

[granite halo]

I forget, does revdis automatically go into the ILV pool and get staked@2.0 as well?

[cyan rampart]

Revdis isn't subject to vesting! Straight to you

[wind walrus]

Nope, RevDis is unlocked

[brisk vector]

Staking @ 2.0 increases your holdings for revdis if thats what you're asking

[granite halo]

Ahh I understand it is unlocked, but I was wondering if it goes into the ILV pool automatically or if we have to claim and then stake it to receive rewards from it.

[stray eagle]

Is there any calculation about return of investment?

[cyan rampart]

I think you have to claim and then stake - Someone made the suggestion to allow revdis to go straight into the Core Pool as an option though, which I think is a good option to have (if it's technically possible).

[granite halo]

Gotcha! Thanks.

[wind walrus]

Look at the pinned section

[cyan rampart]

With regards to token appreciation or staking rewards? Or revenue distribution?

[granite halo]

Well damn, gotta come up with another 2500 for eth and stake asap.

[stray eagle]

Staking rewards

Im very new to this World of nft and crypto, but it looks fascinating

[cyan rampart]

Investment * APY = ROI, in basic terms, provided you're staking for a year. You can figure it out daily from there pretty easily.

[wind walrus]

Welcome, the rabbit hole goes deep