🥩〕staking

[junior shuttle]

but best now is probably 60 - 70 gwei

[brisk surge]

is 131 high? and how does that translate to the actual price of gas is it just 131 dollars for each transaction?

[desert spruce]

no, the actual price is going to be much higher, for example for me it wants 258$ right now

[brisk surge]

holy crap

[desert spruce]

the lowest I've seen was 77$, should have done it lol this is probably as low as it gets

[cyan rampart]

The complexity of transactions determines the AMOUNT of gas used. The price of gas is what's listed by the bot in the member's list or on gas trackers.

Staking/claming are relatively complex transactions, so they use a fair quantity of gas. When the price of gas is high, that can mean super expensive transactions.

Just as an example, something like sending ETH from wallet to wallet is considered a simple transaction.

You can see historic gas prices here: https://etherscan.io/gastracker

Good for gauging when gas is high or low, and how high or low it's been lately.

[calm zealot]

gas fee is a scam lol

[cyan rampart]

Right now, it's WAY high.

[calm zealot]

like can you ask for an order at 10 gwei and wait for it to be at said price ?

[cyan rampart]

This is probably more topical in #💰〕token , but I think we'll decouple from the price of ETH to a large extent once the game launches. For the time being, we're following ETH fairly closely, but once we're generating revenue distribution and pumping the price through that mechanism, I think we'll follow our own trend based on game quality, design decisions, game accessibility, advertising etc.

[cyan rampart]

That's exactly what I do - 10 gwei will not complete any time soon, but you could do something on the order of 50-60 gas and be patient for a transaction.

That's what checking historical prices on gastracker is great for - determining a likely "low" price for the day and waiting for it.

Just make sure (in MM) that you're only adjusting the gas PRICE, and not the gas LIMIT. Lots of people have lost their ETH that way.

[calm zealot]

the 2nd september it hit a min of 1 gwei at some points

[calm zealot]

in MM ?

[karmic saffron]

Agreed

[cyan rampart]

Weird - I'd check how many transaction actually got through at that price, I doubt it was many. I love sniping low gas prices but have had transactions pending for 24h+ at even 25-30 gas before.

MM is metamask - I'm not familiar with the gas price controls in other wallets so I won't speak to them.

[brisk surge]

what is the best way to buy illuvium

[cyan rampart]

Our liquidity pool is hosted on Sushiswap - it's generally the best way to buy ILV!

[tulip plank]

Anyone had this problem when trying to stake and confirm the transaction in metamask that the approval button is greyed out?

[cyan rampart]

Typically that'll be because of insufficient funds to pay for the transaction. Gas is insanely high right now, so be diligent in checking how much you're paying for the transaction!

[tulip plank]

I just got a window of about 20USD I thought as well its extremely low

[cyan rampart]

That seems way too low - did you manually adjust gas settings? I'd be cautious of approving that transaction, if you've played with gas prices or limit, you could run into "out of gas" which just means you wasted some ETH and the transaction couldn't complete. https://etherscan.io/gastracker

Typically staking is comparable to the price of a Uniswap Swap listed on Etherscan.

[tulip plank]

No I didnt but Metamask is strange since I was rejected by my ledger to send the ILV and they stayed and I payed only the gas fees but nothing arrived

[brisk surge]

What Is the difference between the 2 staking options. I know that in the second staking option I need the same amount of eth and ILV. But which option is Better to stake with and why?

[mystic thorn]

Well SLP has more APY but that is subject to change. SLP has a lot higher risk to it, which in turn also making it have a lot of room for high reward. Whereas the ILV staking is just dependent on the coin so it is a lot safer but not as much APY. So go big or go home I would say SLP

[cyan rampart]

Check out the info here too!

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

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

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

[brisk surge]

Thank you guys!

[mystic thorn]

Anytime

Gas fee below 100 boys ⚡️

[swift spindle]

When you say adjusting the gas price, are you talking about the maximum fee?

edit: Want to make sure I don't lose anything here lol

[unique fossil]

So i started staking some ILV using metamask, but I want to transition some of my holdings to a ledger account soon, as i'm worried about security. Is that possible?

I don't have my ledger yet but want to figure out how this works. Because in my metamask it shows i have 0 ILV tokens

All of my ILV is staking right now

[brisk surge]

Your ILV from your metamask is now locked into a staking smart contract with Illuvium and won't be available to withdraw until after it unlocks

[sinful pond]

If your stake is locked, you can't migrate your stake to another wallet until you can unstake (and any rewards you've claimed would also remain locked on that wallet until they vested fully). You could recreate your metamask wallet on your ledger if you are quite sure your metamask hasn't already been compromised. This would protect against future hacks, but it would never be as secure as having first started with a ledger wallet

You also can just slowly transition from metamask to ledger but it will take a couple years as you wait for various stakes/rewards to unlock

[unique fossil]

I haven't been hacked (far as I know lol), just starting to grow my holdings so I want to be safe. So I can assign the ledger to be the same wallet address as my MM?

[unique fossil]

yeah and of course I locked in for 52 weeks to get the max APY

[sinful pond]

I don't have much experience with ledger but you can do this with most hardware wallets, yes. Again not the best practice but it will work to protect you against future hacks

[unique fossil]

As I understand it there is really no such thing as a cold wallet, all assets are stored in the blockchain online. The ledger is really just a 2 factor authentication to make any transfers to the wallet. So it might not be much risk to migrate the same wallet. Let me know if i'm wrong, i'm very new to this 🙂

[sinful pond]

Well, sort of---what having a hardware wallet does is it keeps your private key from ever being directly on your computer (whereas with metamask, your private key is stored somewhere in your computer's harddrive). When you sign transactions with the HW wallet it still keeps your private keys on the HW wallet--so it minimizes your exposure. Yea in theory your keys are on the blockchain, but that doesn't matter too much because it's basically mathematically impossible to get your private keys from the blockchain (at least with current tech)

[unique fossil]

But anyway if my ILV is locked in contract while staking it should be safe from any attack anyway right? So maybe I don't need to worry about migrating my ILV

[sinful pond]

Well an attacker can't move it until after the unlock period but as soon as assets start to become unlocked, if they have access to your private key then they could instantly withdraw probably faster than you could

(not to scare you or anything! plenty of people use just metamask and it's fine as long as you are careful not to enter your private key anywhere or connect to untrustworthy sites / download untrustworthy files)

[unique fossil]

Thanks for the info. I suppose me typing in my password when approving MM to a new site is an exposure risk if there is key logging malware or something on my PC. Haven't thought too much about that.

I prob should have started with Ledger but I first dipped a toe, then am getting more and more into it so I want to make sure I'm safe

[sinful pond]

Yeah--and just to clarify, your Metamask password isn't your private key--by private key, I essentially mean the 12-word phrase (not technically correct but basically the same thing). Never enter that 12-word phrase anywhere unless you are restoring your wallet and you are definitely on the right site

[abstract comet]

do not do this. If you use the same wallet address on your ledger as your metamask, any security provided by the hardware wallet is completely voided. Generate a new seed phrase just for your hardware wallet and never input that phrase online or give it out to anyone.

[unique fossil]

I was reading in another discord someone's horror story. Apparently he got infected with a malware that when copying and pasting a wallet address, it would change the address when you paste it. I always make sure the first 4 and last 4 digits of the wallet line up before i transact.

[unique fossil]

OK. I've never typed in my seed phrase.

[sinful pond]

I don't think this is ideal security but it actually would be more secure than just sticking only to the metamask extension (which is definitely the least secure option). I wouldn't necessarily recommend against it entirely, even if it would have been better to start from the HW wallet first

[abstract comet]

um, no it makes no difference. If he's already using metamask and has the key stored in his computer, having a hardware wallet with the same address does nothing at all.

[unique fossil]

If i've never typed the key (or seed phrase right?) then I should be ok though?

[sinful pond]

You can remove metamask from your computer, which deletes the key from the computer. You create the wallet on the ledger, and then use a newly installed metamask extension to connect to the HW wallet. Then the private key is no longer on the computer

[abstract comet]

if you generated an account with metamask, that seed phrase is stored on your computer. Malware can access it.

[unique fossil]

So is there any secure way to transfer the tokens that are locked in contract to the new wallet?

[abstract comet]

ok yes, it's essential to do that. Assuming you do that cleanly and no malware has yet infected the computer, then that should be secure. Still definitely unrecommended though and seems unnecessary for someone just starting out in crypto and presumably has few assets to worry about.

[stone sierra]

it should be encrypted, i dout they are going to break that.

[abstract comet]

so hardware wallets are pointless, yes?

[sinful pond]

Well, I agree there's no need to do this with smalla mounts. But at least it protects against future attacks even if you cannot undo the damage if your computer was already compromised

Kind of the best option when you have no other option (if you have a lot of value locked in a 365 day stake for example)

[abstract comet]

oh I see you already staked on your metamask wallet? sorry I started following this from the middle. No, unfortunately the illuvium staking contract assets cannot be ported to a new wallet. So following nmnlol's advice is probably the best way to go. Make sure to completely clear out the private key/seed phrase stuff from your computer.

[stone sierra]

Just an extra step in security, if you sleep better at night, do the cold wallet

[unique fossil]

So i can't use the old wallet address and assign a new seed phrase?

[abstract comet]

sure. I would say anyone with a significant amount is playing with fire by not using a hardware wallet.

[stone sierra]

I don't think a cold wallet will prevent someone from selling your ILV once the vesting period is over, but not sure about that?

[abstract comet]

yeah, well if any wallet (cold or hot) gets compromised, you're kind of screwed. Cold wallet is harder to compromise though.

[unique fossil]

i thought a big benefit of cold wallet is requiring it to be plugged in and authenticating transfers by pressing the physical buttons?

[abstract comet]

mmm, that doesn't really make sense. It's not like an email account where you can change the password or something. A crypto wallet address is uniquely identified by its seed phrase. I think you need to do a little more research on what seed phrases are, how hierarchical deterministic (HD) wallets are generated etc. Assuming you're going to get serious in crypto, this knowledge will be necessary anyway.

[unique fossil]

Thanks i will look into this. So it seems the thing to do is 1) uninstall mm from computer 2)connect the ledger and set it up as an existting wallet with my MM seed phrase 3) get a new MM with new address . Is that right?

[sinful pond]

Yes. When you set up a new MM it should be with a totally fresh wallet. You can then connect to your ledger (which has your old wallet on it). And then you can use MM as your wallet interface but you'll need your HW wallet to sign transactions.

[unique fossil]

Or option 2, setup my ledger with a fresh new account, migrate everything I can from MM to it, leave my ILV in the staking contract until it is released in a year (and 2 years for the rewards). And if I want to add to my ILV position I can connect the ledger to the ILV staking portal as a 2nd address right?

[sinful pond]

Yup that's another option. Will take longer to migrate but will ensure that your ledger address is as secure as possible

[young wave]

Wouldn’t there be some fees involved for @unique fossil if they transfers all their other coins from one wallet to another?

[unique fossil]

Oh thats true. I was expecting that this was the way to go though. I'll have to wait for slow gas days

[sinful pond]

Option 2 he described would incur fees yes. Option 1 would not require any gas transactions

[young wave]

I read somewhere Sunday morning EST is historically the lowest gas period. Maybe on Sunday you can see for yourself?

[sinful pond]

That used to be the case! But these days are crazy all the time it seems. Lots of demand for blockspace especially due to NFTs

[young wave]

Would it be less expensive to purchase a new computer and disconnect your current computer from the internet? @unique fossil @sinful pond

[sinful pond]

You would still need to connect your computer at some point to sign transactions to claim etc, which again causes the issue where your private key is a bit more exposed to potential attacks

[young wave]

Surely.

[unique fossil]

I just got this gaming desktop last year lol. Not a good option for me

[young wave]

Hahah okay

[unique fossil]

It seems to me that fees to transfer tokens between wallets are less than purchasing NFTs or tokens, is that right? Just from what I've seen transferring tokens from a coinbase to mm wallet the fees were like, single digit dollars cheap. But NFTs i've minted cost hundreds

[young wave]

It depends if you’re on the ETH or BInance Smart Chain

[unique fossil]

I don't believe i've been on BSC

[sinful pond]

This is generally true yes--a send transaction is very simple so it reuqires less gas. More complex smart contract interactions (like staking or minting NFTs) require a ton more gas

[swift spindle]

If I change the maximum gas fee on my MM transaction, will it wait until gas gets that low to execute? I won't touch the gas limit

realized I'd put this in the wrong channel originally lol forget that I leave staking sometimes

[sinful pond]

Not sure myself. It seems that transactions with too low gas fail fairly quickly, but I don't know the ins and outs of it sorry!

[swift spindle]

All good mate, I'm curious myself. Not thinking of setting it ridiculously low like 30 or 40 but like 65 or something and just letting it wait for that

edit: lol even 65 might be ridiculously low this week 😄

[young wave]

A few weeks ago I staked with SUSHI LP in the core pool. At the time I did flexible. Today I added a lot more to the Sushi LP stake pool but this time I locked it for 21 weeks. I am hoping I automatically converted my flexible to locked. Does anyone know? I can’t tell from whatever I got reported…

[swift spindle]

edit: nvm I re-read and misunderstood the first time - disregard this

[unique fossil]

I got airdropped an NFT this morning and the devolpers put 70gwei. It has been in pending transaction for 17 hours lol

[swift spindle]

oof okay so that is possible then assuming that it doesn't take so long that the transaction fails

[plucky vessel]

quick question when i claim ilv i can not restake that ilv in the SLP pool correct? can only stake in the ILV pool

[unique fossil]

I thought SLP goes in the SLP pool and ILV is a different thing? But if you staked your ILV as flexible i would think you can do what you please with it when you claim it

[plucky vessel]

well i mean the rewards like my pending rewards is 2 ILV right now my wonder is if i claim the 2 ilv if i can restake them in the SLP pool if i had ETH to pair it with

[rare aspen]

I tried five times to stake ILV using Metamask wallet. All five times the transaction failed saying ''transaction encountered an error'', but it turns out that all five times they did charge me the gas fee! More than $100 in ETH. How is that even possible and how can I recover my ETH?

[wind walrus]

Nope. They automatically get staked in ILV core locked 12 months with 2x weight

[unique fossil]

I'm pretty sure all rewards are locked for 12 months after you claim them

[unique fossil]

Check out the vesting tab. When you claim it will show the 2 ilv there, and a countdown from 365 days and the button to claim is greyed out until then

[plucky vessel]

yup perfect thats what i suspected but wanted to be sure that settles what i will do with the rewards then thanks guys haha

[unique bear]

Does anyone know of there's a time limit to Gas transactions? If you set the bar low, how long will it try and process until it cancels and forces you to pay? Or does it vary? If it varies, what are the variables?

[mental tangle]

I recommend not lowballing gas.
Failed txns hurt more than fast gas
Just my personal experience RIP

Also unless you have a hefty bag..... Well myself personally I'd be waiting for cheaper gas ... Like sub 50 gwei if possible

[lavish pollen]

I rarely see 50gwei nowdays. I tried staking just now, but metamask showed me absurd fees of $250 😓

[ripe steppe]

70 gwei is the new 10 gwei...

[lavish pollen]

With this kind of gas fees, I'll just hold ILV until I have enough to make staking worth it 😂

[mental tangle]

Oof. Yeah....
I guess 50 gwei is soooo 4 weeks ago...
Feelsbadman

https://ethereumprice.org/gas/

[lime moth]

How do we find gas fee for staking ILV apart from gas fee for staking SLP?

[unique bear]

Does anyone know the multiplier for Gwei for different transactions such as:

Sushi swap
Stake ILV
Stake SLP
Claim ILV rewards

Etc.?

Hard to find that info, so once you swap and go to stake, the gas changes and you get screwed

So if 100gwe is like $8USD, how many Gwei is needed for each of the above items

[ripe steppe]

have extra ETH in ur wallet to be safe, if ur staking in normal ILV pool $150 should be enough (as long as gwei aint too high), at least double that needed for SLP staking, buying from sushi swap and claiming rewards should each be under $50 (safe thing to do is just double all the values ive given here or better still just put like 0.15ETH in you metamask just for transactions, staking takes what it takes obviously waiting for lower fees for it to take less and then whatevers left will cover u for claiming rewards in future and u dont have to worry about not having enough and anything u keep in ETH will anyway go up in $ value over time so like thats what im doing, also appreciate if thats not an option for everyone, just my 2 cents or whatever they say lol)

[unique bear]

Thanks mate. Not too concerned about having left over Eth in the wallet. I've got a bit of reserve there and already staked a couple of times when Gwei was less than 30, but was more wondering whether there's an actual accurate and consistent multiplier for each of the transactions. I. E. (Gwei x k). What is k for each of the transactions?

[ripe steppe]

been here for a decent bit and i dont think anyone has actually stated a precise multiplier, but u need more for SLP staking than ILV staking, and having more ETH in ur metamask rather than less is recommended, and waiting for lower gas fees is best unless u dont care cos whale or cos staking earlier provides more rewards which make up for gas, thats as far as my info goes...

[unique bear]

Yeah that's about my level as well. Already staked in both SLP and ILV pools as well as flash pool. Also gotta have some gas for claiming rewards which are forced if retaking.
But that multiplier would be interesting to know, or whether that varies as well

[ripe steppe]

it would make sense that there would be a stable multiplier, i do understand what you're asking, i just do not know (heck maybe ur the one to reverse engineer it by doint it and calculating for each thansaction what was the actual price compared to gwei and how does that compare between the different types of transaction, I do see how that could be figured out through math, but unaware of anyone having done it, its certainly not pinned on the chat either... either way good luck bro

[unique bear]

Cheers mate. I'll have. A crack next time I Stake maybe tomorrow evening if Gas behaves itself. And see if anyone else has done similar and wants to correlate/compare with what I get. Legend man, thanks anyway

[placid olive]

what is a good gas fee price for stacking? 180$ is to much i think

[mystic thorn]

the 50-80 price range

its 94 atm

[wind walrus]

Staking in ILV Core or SLP?

[placid olive]

ILV Core

[wind walrus]

180 is a little high for ILV. Wait till gwei drops to 40-60

[placid olive]

aight thx

[wind walrus]

NP. Gas sucks.

[cyan river]

When I unlock my coins vesting, What currency will I get my initial investment in 🤔 not 100% sure

[mint cave]

you get the same thing and amount you initially staked

however, due to the nature of LP tokens, if you were to remove the liquidity on sushiswap after unstaking - you would undoubtedly receive a different amount of ILV and ETH than you initially submit due to impermanent loss

[cyan river]

ty

[iron glen]

any rough estimates how much are the gas fees now for staking in the SLP pool?

[wind walrus]

Just staking or all the TX to buy, swap and stake?

[mint cave]

the last SLP stake transaction was at 100 gwei and cost about $153 total

*but this was someone who staked before, thus they had to claim rewards in the same transaction

the last first SLP stake was about $98 at 102 gwei

[iron glen]

ooh nice ok. Just wanted to get a rough gauge of the first slp stake

[meager prairie]

For first time staking, can I stake in both Core pools at the same time or do I need to do each one separately making me needing to claim rewards while I stake in the second pool

[iron glen]

I'm seeing ilv/eth going up in price, even though eth itself is stagnant. seems to show fresh interest in illuvium

[mint cave]

each stake is a separate contract interaction(the core pool and the SLP pool are different contracts) so you can't do it at the same time, it might be possible to get them in on the same block though...so if you're fast enough you might be able to avoid that.

complete guess, though

[meager prairie]

Thank you

[iron glen]

oh yes SLP staking does two transactions right, one for ILV and one for ETH? so this $98 at 102 gwei is the combined cost for both or just one

[mint cave]

no it is one, as you are just staking the SLP token, not ILV and ETH individually

[iron glen]

ok noted, thanks! I must have gotten confused

[gleaming brook]

All, I managed to figure out the Ledger (sort of). I can withdraw from MM directly to the Ledger without connecting the Ledger to MM. Still involve Gas fees though. My questions are:

1. Can I still stake using the Ledger or I need to move it back to MM first?
2. Can I purchase ILV or SLP using this Ledger on Sushi?
3. Does it make my coins safer if I perform all staking and purchasing using a Ledger?

Hope I am making sense and sorry for the noob questions. Thank you

[cyan rampart]

That's right! Sorry for late reply, was at a wedding

[abstract comet]

@gleaming brook Yes to all 3. Except what you do is you connect your Ledger to metamask and stake with your ledger wallet address via the metamask front end. I assume you know this anyway since metamask is one of the few ways of connecting to the staking.illuvium website

[naive tide]

What are the current staking APYs%?

[vital kayak]

Hi anyone know how to fix this? We never had issues swapping for ILV and today no matter the slippage we put, even 20%, it’s failing

[iron glen]

Wow gas price seems to be at the lowest at around this time every day, probably because most people in the US are sleeping

[vital kayak]

I’m awake trying to buy ILV but gettin errors

[gleaming brook]

Thank you. MM has an option for “Connect Hardware Wallet” and I was told here not to do this. Can I still use MM frontend if I don’t click this option?

[echo steppe]

Is there a way to claim your rewards from one pool at a time? When I click Claim ILV it only gives me the option to claim out of both core pools meaning I have to do two contract interactions using 2 lots of gas fees. I would just like to claim from the SLP Pool and not ILV Pool.

[eager rover]

unfortunately not, but staking 2.0 is coming soon. we should be hearing details soonish

[vital kayak]

So, no one knows what’s up with METAMASK errors when tying to swap for ILV in this group then?

[echo steppe]

Fingers crossed as I only have 0.000014 in the ILV Pool that was claimed as a reward in the early days while swapping from ILV to SLP Pool and don't like the idea of paying a $130 gas fee to claim it haha

[echo steppe]

If you are using Meta Mask try resetting your wallet.

[eager rover]

not sure, what browser/app you are using

[vital kayak]

Reset and cleared cache

[eager rover]

are you trying to trade all your ETH ?

[echo steppe]

Did you use the option under advanced settings?

[eager rover]

if so you can't

you need some ETH to use for gas

[vital kayak]

Chrome like @hexed bough had us use when issues before that got fixed after switching from safari but now can’t even swap

[vital kayak]

Yes. Changed slippage to as high as 20%. Should we change Nonce?

[vital kayak]

Have .45 ETH only swapping for 1 ILV atm

And mind you we have 7 ILV, we kind of used to this but today is broken Error we’re not used to

[echo steppe]

Error 32000 usually means it is a signature error. My fix was resetting my account under advanced setting

[eager rover]

try editing your gas to a higher one

[vital kayak]

Hmm this is the reset we did, and did on PC as well

[echo steppe]

Yeah that's what worked for me

[vital kayak]

We click on “more” and choose highest. Didn’t work, Is there a different way that other than that?

[vital kayak]

Dang yeah didn’t work then for us . Thanks tho :/

[echo steppe]

Do you have any pending transactions?

[eager rover]

edit > edit suggest gas fees then click high

[vital kayak]

YES! But we thought that cleared out after resetting

[eager rover]

If it is pending in etherscan it needs to clear out

[vital kayak]

We were able to cancel some of them but one was just stuck and said pending without any option to cancel or anything

[echo steppe]

By clear out do you mean the transaction is still being processed or Etherscan needs to see it has been canceled?

[vital kayak]

Like everybody was saying to reset and it will clear the pending but as you can see it’s still counting

[echo steppe]

Yeah Mine is that same from the problem I had earlier.

[eager rover]

Yeah its a pending transaction sent, it needs to be cleared before you can do any new transactions

[vital kayak]

I appreciate any possible suggestion we really want to get one more ILV

[eager rover]

https://medium.com/@mattioo/how-to-cancel-a-pending-ethereum-transaction-with-metamask-66dafb84099e

[vital kayak]

Thank you! It looks complicated hope my husband can figure it out. Pray 🙏🏻

[eager rover]

yeah this will explain how to do it but it is also a pain

[vital kayak]

That article you sent seems the most clear from what we’ve looked up tho so we’ll try, thanks again 😊

[echo steppe]

Okay so just tried this and was able to send 0 Eth from one account to another. Upped the fees to make sure it goes through.

[vital kayak]

That’s great! We workin on it, kinda nervous, from so much lost ETH since getting into swapping

[karmic gorge]

Oof, I staked a very small amount of ILV and now that the gas fees are so high, it's not even worth it for me to claim

[gloomy gazelle]

Just keep waiting

[hot lynx]

So when do you claim your ILV stake ? every 1 x ILV

[vital kayak]

@echo steppe hi we gettin this error , but we are pumping all values by +10 like the article says

[icy ocean]

ohh boy , seems to be very hard to tell, there were some posts long ago about someone doing some crazy calculations, but you do have to take into account gas fees and APY at exact moment and potential changes in time

[manic spindle]

That is entirely up to you. There is no minimum but it heavily depends on your strategy. How long do you want to stake? Do you plan to lock for more token weight? etc. Also, Gas fees are obviously always something to consider too 🙂

[icy ocean]

Anything can be worth staking , question is , are you planning to stake more, how soon.

[vital kayak]

I’d be happy with just one more, but this damn Metamask is failing every swap attempt

[toxic hound]

I'm thinking of staking until the game releases. I'm just curious considering everything what would be the general consensus minimum ILV amount here (I know it's subjective haha) This is my first dip into crypto staking and would like to get insights from everyone more experienced than me. Is $1000 worth of ILV at current prices good enough?

[eager rover]

and you tried to increase the gas fees? can you DM me your ETH address maybe I can look into it further?

[toxic hound]

I'm not keen on locking the tokens and I'm looking at the flexible Sushi LP Pool as it gives around 300+% APY?

[vital kayak]

Yep adding 10, even 100.

[abstract comet]

I'm unsure why someone would tell you not to do that. Most people connect hardware wallet to metamask- recommended method

[toxic hound]

If anyone can explain what that means that would be awesome! (sorry if it's a stupid question)

[brisk surge]

https://www.gasnow.org/ I would recommend waiting a little for when it is cheaper

[manic spindle]

I think almost 2 ILV staked at a time of not too high Gas could be worth it, yeah. Personally though, I'd probably consider to somehow get to a bit more than this (to distribute the gas fees for swapping/staking across more tokens effectively) and also definitively consider to lock for a long time to increase the rewards from staking 🙂

[vital kayak]

Sent 😊

[manic spindle]

Also, don't forget that ILV is not needed for gameplay at all.

[vital kayak]

If you scroll up you can see the issue has been waiting up to two days for pending transactions because the gas was too cheap. So we have a backlog keeping me from buying/swapping more ILV

[scenic oracle]

hi, does the game use $ILV as a currency? Because I am not sure how much to stake

[toxic hound]

What would be a good price for gas? Would ILV be used as a currency to buy land? That's why I'm not too sure of locking it for a long period of time, because I'm interested in trying to purchase one haha

[scenic oracle]

i have the exact same proble

[manic spindle]

With only 2 or so ILV to be staked, I personally would try heavily to find a time of 40-50 gwei or so in the current climate. I would have waited for 30 and lower normally but the last 1-2 weeks, I'm not sure if that was ever reached again 🙂

Also, you don't buy land with ILV. Only ETH or sILV. See the proposal in #📰〕governance-news .

[scenic oracle]

sILV comes from ILV right?

[toxic hound]

Oh okay thanks! 🙂

Is there a calculator or resource I can use to compute how much sILV I can earn from staking?

[manic spindle]

!silv sILV can be claimed as Yield Farm reward from staking ILV, yes 🙂

[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.

[manic spindle]

There might be something pinned in this channel from others.

[scenic oracle]

Thanks Mozart and Stormi

[hoary yacht]

Hi there , all my staking amount just showing zero , anyone else had that , us it a glitch ? I am very worried

[manic spindle]

Try to reload the browser or open a different tab on the staking page and then go back.

Sometimes there are loading problems 🙂

[scenic oracle]

Also, any details about this:
Yield Farm Contracts V2 - September / October (In development)

What else could be improved or just extending the contract?

[manic spindle]

Not sure about the details but I guess this could be what Aaron was hinting at here: #809220563397902346 message

[hoary yacht]

I have tried to reload it still no luck

[hot lynx]

I find trust wallet has no errors and works for me every time

[manic spindle]

Restarting the browser completely and checking that your wallet actually is on the ETH Network would be my next suggestions 🙂

[hoary yacht]

Who shall I contact in regards to that issue?

[manic spindle]

Could you send me a screenshot per DM with exactly how your problem looks like?

[gleaming brook]

This was the message I got in Ledger when I clicked on “Connect Hardware Wallet” in MM. I am waiting for MM support to advise in the meantime

[silent spire]

I have stakes in all three active pools; SLP, ILV and XYZ. I want to withdraw from XYZ pool and claim all ILV rewards including from SLP pool, what is the cost effective way to do that?

[dull notch]

Hi, can anyone who's staking SLP please let me know if it's just one or two transactions to claim the rewards?

Seen some say one and others say two and confused which is correct

[manic spindle]

Claiming LP rewards requires both pools to have rewards claimed. Claiming ILV only pool rewards can be done individually 🙂

[abstract comet]

ok, just make sure it's really MM support. Don't get phished... How did you contact them?

[stray eagle]

Hi, I always get this message on my Android phone when trying to connect metamask. In my PC works fine and I have the same account Linked in metamask in both systems because I see the same ethereum funds in both of them

Please switch your wallet to mainnet to use the app

[echo steppe]

Looks like your gas fee is to low. I fixed that by upping the priority fee and gas limit.

[swift belfry]

If you want to invest for the long term, I recommend locking your money away for a year in the SLP pool. The returns are very good. If you are specifically wanting to buy land though, you probably want to keep your money available for that. Unless of course you have enough money that you think you can do both.

[echo steppe]

Do we have an idea on the cost of land?

[swift belfry]

Nothing official yet. There will be different quality lands. So based purely on guesswork I wouldn't be surprised if there is at least one level of land that you could buy for $1k to $3k each. But that is based purely on guesswork. So don't hold me to it.

[echo steppe]

Is there a Medium post or anything about Land I can read up on. What does it do? or is it just speculation at the moment?

[swift belfry]

Go to the iluvium-zero channel

[manic spindle]

Check the two GDDs pinned in #🎮〕illuvium-zero and the proposal in #📰〕governance-news 🙂

[echo steppe]

Thankyou

[grizzled granite]

hey guys i got 8.42 ilv to claim for either vesting or silv im not sure which one but dont mind either

however gas fee is 100 USD XDDD

what should i do

is it worth claiming once a month XDDD

any advice

oh yeah is it confirmed land can be bought with silv yet? if so im claiming silv in a heartbeat haha thx guys

[eager rover]

It is confirmed sILV can be used to buy land

[brisk surge]

hi everyone, im attempting to get my head around the LP with sushi can anyone direct me to a good overview of how it all works please

[grizzled granite]

thanks alot can i claim my silv on the day when land will be released for sale and use it then, or should i claim my silv before hand thanks

[eager rover]

that is a tough question. Depends on the price of land and how much you want. Don't know both of those

[gleaming brook]

Via the MM extension that I installed on Chrome. Thank you

[vital kayak]

Shoutout to @eager rover @echo steppe , especially Sheep who personally took time in DMs and helped a crazy aweful “METAMASK stuck in pending” issue! 🔮

[vital kayak]

Claiming is instant, just remember it costs gas to claim

Like right now, to claim my reward so I can SLP stake, we have to pay a handsome fee, so we’ll wait til Sunday when it “May” be cheaper

[fallen kettle]

Anyone got a link to the how to stake in LP video please?

[manic spindle]

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

[fallen kettle]

@manic spindle thanks

[grizzled granite]

thanks man

hey friends anyone have any idea when the land sale will begin any rough estimate or will be announced soonk, just wanna make sure i dont miss it haha would suck if i did

[vast hedge]

gm all
XYZ flash pool - what date is it coming to a close?

[unique bear]

Tuesday mate. Not sure of exact hour of the day though. Depends where you are. In Sydney Aus it was like 3am on a Tues morning (I think)

[mint cave]

https://staking.illuvium.io/staking/0x4C6997D462b0146fA54b747065411C1Ba0248595/analytics

click on the "end block" number

you'll see the estimated end time

[fallen kettle]

Hey does anyone have the SLP token code? Need to add it to metamask :)

[mint cave]

!contract

[woven ibex]

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

[fallen kettle]

Thanks

[arctic plover]

Hello everyone! After several days of wondering, I finally decided to jump in the staking adventure! I followed all the steps from the video tutorial, bought my ILV tokens with sushi swap, and now I'm at the final step where I'll stake my tokens for 52 weeks in the ILV pool. When I try to do that, my metamask wallet ask me for like $180 fees ! 😵‍💫 The gas was about 70 at that time, the lowest I could have within the previous days... However the transaction settings showed me "Max fee of 110" instead of the 70 I could read on gasnow website...

My question is : How can I lower the fees ? I'll wait ofc, but I can see that i can choose the "Max fee (Gwei)" on metamask ! Can i put something like 50 and wait...? Is it risky ? What are the good practices/What could you recommend me? Thanks guys! 🙂

[mint cave]

there is an added gas buffer on top of the transaction to prevent "out of gas" errors so it will look more expensive than it ends up being

[arctic plover]

Thank you jeff. But for example, can i put whatever I want in the "max fee" setting ? What will happen? Just have to wait ? Can I loose the gas I paid or something like that ? Sorry, i'm quite of a beginner as you may have guessed... 😌

[mint cave]

hah, no worries

so yes, you can put whatever in the max fee, but you'll want to consider the current gas fees, and what the future gas fees might be because your transaction will not go through unless gas prices get to that level

for example right now even "slow" (>10 minutes) is 100 gwei and we havent seen 50 GWEI since sunday

if you set the max fee value too low, you won't lose that money, but the transaction won't go through unless you increase the max fee later, or cancel the transaction and start another

if fees are a significant chunk of your stake, it might be worth it to set it low and forget it, or wait until sunday to actively submit, as that is historically the lower gas day

https://www.gasnow.org/

you can see current and historical fees on that site

[arctic plover]

Ha great, I am reassured ! I read something like "you may end up lossing the money involved" somewhere, so i was a bit stressed 😂 So the deal now is "if i wait, the fee might drop" but the APY will drop too haha.

[mint cave]

true, and that's time you're not earning so you'd want to factor that in

[arctic plover]

Yes! I'm using this website, as normally, last saturday at that time, the fees were low... But it's still "88"... I'll wait on sunday then! 🙂

Thank you for your guidance ! ❤️

[mint cave]

yw!

[vast hedge]

and when it comes to an end do we have to immediately claim or can we chill until the gas is good?

[mint cave]

you can chill and claim whenever you'd like, same with withdrawing the XYZ

[fallen kettle]

How long can it take from SLP tokens being confirmed in sushiswap, to when they are in my wallet?

[mint cave]

by confirmed do you mean the 'add liquidity' transaction completed?

[fallen kettle]

@mint cave yup

[mint cave]

hmm, you should see them in your wallet immediately then if you added the SLP token to your metamask

[echo steppe]

Make sure you add SLP to your wallet. They can be in there but if you haven't added the address to wallet you wont be able to see them.

0x795065dcc9f64b5614c407a6efdc400da6221fb0 Try adding this address wwhen you click on add token

Hold up that might be wrong address.

[fallen kettle]

Lol yeah now I've got 2 types of slp in my wallet. I first used the one I was given by Mozart earlier in the chat for eth/ilv slp token.

[echo steppe]

haha my bad. so many SLP tokens out there

Was the one he gave you right one?

[fallen kettle]

Well it also came up with the slp toke in my wallet. It's only a few scrolls back in the chat if ya wanted to have a look?

[echo steppe]

even if you cant see them try going to the ILV staking website and see if you can stake in the SL Pool. The website will be able to read your wallet and let you know if you have any in there.

Oh did you have to migrate your tokens? Been a while since I have done it but I remember having to migrate tokens

[fallen kettle]

I'll give it a try, but it wasn't letting me stake which made me check my wallet

Oh, no I don't think I have. I did watch the video of creating SLP tokens but I may have missed that part?

[echo steppe]

Third option from the left

If you haven't done this then I would say this is your problem.

[fallen kettle]

Hmm it's saying I don't have liquidity in my hardware and non hardware wallet?

[primal zodiac]

When you do SLV, at what point does the impermanent loss occur? Whenever you choose?

[hazy token]

impermanent loss occurs when there is a discrepancy of the gains/losses of ILV relative to ETH. But it is only realised if you withdraw

[grim ridge]

So I bought ETH through Gemini and thought I’d be able to transfer it to my MetaMask wallet in order to do a sushi swap to ILV that way.

But I can’t figure out to get my ETH transferee from Gemini to MetaMask.

Will I have to sell my ETH on Gemini and rebuy on MetaMask and then do a sushi swap?

[primal zodiac]

Thanks

[hazy token]

if the ratio changes, but then returns to what it was when you initially pooled the funds, I think you don't see IL, although someone correct me if I am wrong

[primal zodiac]

Yeah that’s what I was wondering

[dusk minnow]

Given the current gas fees it makes sense to never claim. Does it really not make sense to claim unless you have huge amounts?

[brisk surge]

That this will happen is pretty certain, isn't it?

[hazy token]

quite certain yes

[primal zodiac]

Yes, but when you are making up to 600% APY, you have to determine if rewards outweigh loss

[hazy token]

I can't think of any two cryptos that have maintained the same ratio forever. Well, maybe DAI and USDC 😏

[primal zodiac]

Are the ILV rewards and sILV rewards equal? 1:1?

[mint cave]

like, when you claim either? yes

[primal zodiac]

Yeah, so its "you have earned 1 ILV reward, you can choose 1 ilv or 1 silv". its not that you get more in silv or anything

[mint cave]

correct

[primal zodiac]

seems crazy that sILV is trading so much lower?

0.06 compared with 0.15

If you intend on buying land it makes sense to stock up on sILV, right?

or will land have a $ value attached, so you'd have to pay more silv than ilv?

[mint cave]

sILV trades lower, because you cannot yield farm with sILV like you can ILV

so sILV will never generate more value, it will always just have the purchasing power of the same amount of ILV

ILV can generate you more value

[mint cave]

this is a common strategy, yes

[sacred pawn]

Hi everyone I heard that some people are selling selling slv, is this true if this is the case how do I store the slv and would I get the same rewards (in game revenue distribution ) that as someone that got it staking

[slate scroll]

One day when our vesting period is over is it going to be released on its own or we need to interact with blockchain and pay fee

[brisk surge]

Hi I’m tryjng to stake in Sushi LP pool, I have 1 ILV in metamask and I have $200 worth of ethereum. Sushiswap won’t let me do 50:50 and it also says I don’t have the fees when I do have the fees, I have no clue anymore maybe someone can advise ? Thanks

[mint cave]

it is true. sILV is just a regular erc20 token like any other

it does NOT receive revenue distribution
it cannot be staked
it cannot be used in governance

[mint cave]

you will have to claim the vested rewards, they are working on a way to batch those for the future (since there will be many claims over the year for some)

[sacred pawn]

So the only way to get revenue distribution is by staking correct?

[slate scroll]

To stake 1ilv in ilv/eth pool you will need equivalent amount in eth to match 1ilv plus extra eth for transaction

[brisk surge]

Hi i just wanted to split 1 ILV in half, so half an iLV and then the other half in Eth equivalent, is that possible ?

[slate scroll]

Lol I really hope they will solve this my list is longer and longer every week hahaah

[mint cave]

yes

[mint cave]

same lol

[carmine drum]

Yes, but the gas will kill you.

[slate scroll]

It's not worth it for that amount just add that in single ilv pool

[sacred pawn]

Still can the slv be bought from people be used for in game purchases

[dusk minnow]

What amount is worth it to start staking SLP?

[brisk surge]

i get you, thanks for letting me know

[slate scroll]

I paid 10min ago around 200$ to add some more liquidity in eth/ilv pool

[sacred pawn]

Namely land

[dusk minnow]

Given gas - 1 ETH, 5 ETH? 10 ETH?

[primal zodiac]

Well 1 eth is around 5% lost in fees, Not too bad, in my opinion

[slate scroll]

Imagine eth 10k and gwei not going below 100 that's my nightmare 😂

[drifting elbow]

Could anyone help me whether my SLP has already been staked or not?
This is my 1.11 Stake sushi LP transaction: https://etherscan.io/tx/0x153f337e423d36c2548811fc8946deb2f66b1ebb39cde1f5aadcc81244e2af0f

[plucky coyote]

For those with at least $10k in sushi lp, how much are your rewards so far?

[slate scroll]

My advice to you if you don't plan to put at least 2k$ in dollars ilv/eth it's probably best to put your ilv in single ilv pool

[mint cave]

if it is staked you can see it on the dashboard
https://staking.illuvium.io/dashboard

you can also see it on https://staking.illuvium.io/vesting

[slate scroll]

Or just check vesting page to see if it's added there

[drifting elbow]

Ty jeff! I see it there! just worried because of the 2 previous failed "Approve Sushi LP Spend"
Whew!! thanks guys, we're in this together now! 🙂

[mint cave]

[brisk surge]

thanks i put all i had in the single pool when i started and only realised i should have put some of it into the sushi LP too, but yeh il do that for now and build up more for sushi lp later, thanks again i appreciate it

[dusk minnow]

Oh gawd. I just staked around 1.5 ETH in the SLP pool (0.7 Eth and ~5 ILV) and paid around $290 total in fees.

[slate scroll]

This is the way! 😂 same here around 200$ today

[dusk minnow]

Yeah, around 5% in fees. Not used to that

[slate scroll]

But white 550apy right now it's worth it

[dusk minnow]

So how much ILV does 1.75 SLP get you in a month?

[slate scroll]

I paid yesterday 40$ just to vote 😂

[slate scroll]

Just check tomorrow 24h after you added liquidity x30 and you will know exactly

Of course it can be more or less a little bit....

[drifting elbow]

And gas is cheap now, like 70~80 GWEI, I think I paid only 130 dollars to add my stake

[dusk minnow]

Yeah I just had a lot of transactions to go through since it was first time (buying ILV, approving ILV/staking/sushi LP, buying SLP and then actually staking)

[drifting elbow]

Then I guess you paid cheap, if you paid only 300 dollars for that all in total haha

[dusk minnow]

When you are on the illuvium sushi LP staking page. What does the weight % mean? 78.43% ATM. Pool APY is 575.69%

[brisk surge]

Should I stake in 3 weeks everything or can I stake now 50% and add the other 50% in 3 weeks?

[unique bear]

You can do either, but you'll pay more gas fees if you stake twice, and any rewards you earn during the 3 weeks of the initial stake, you'll have to claim when you stake the second time, which adds another gas fee

So unless you're talking about big bags of cash, staking once would be recommended in this climate. But do your own calcs

[mint cave]

weight % indicates how much of total yield that pool recieves at that moment

generally SLP receives 80% of all yield farming rewards, and single pool 20%

but when there is a flash pool both are reduced slightly, because the flash pool receives 2% of yield farming rewards while active

[brisk surge]

Anyone reckon gas will be back down soon?

[mint cave]

https://gfycat.com/foolishvibrantkissingbug

[fresh grail]

At the current rate, it's roughly around .34ilv per day.

[cyan kelp]

well it's weeks it is like this.. i don't think so because the NFT market exploded last month and if the price of eth keeps moving like this everyone gonna swap and so

[wispy ferry]

@mint cave Do you know if claimed sILV immediately sent to our wallet? I have not tried claiming yet.

[mint cave]

it is

[wispy ferry]

👍

[stable linden]

5k/5k or 10k/10k

[fresh grail]

5k/5k

[stable linden]

Thanks 😊👍

[fresh grail]

No worries

[fallen kettle]

Woo-hoo, finally staking in the LP :)

[mystic thorn]

The gas fee is insanely low atm

[stable linden]

Oh?

[drifting elbow]

I mean, its' 70 gwei, it used to get sometimes to as low as 40..30 gwei

[stable linden]

Oh lol 😆, a month ago it was 20

[fresh grail]

ha cheap. I go to claim and it shows $195 to claim with max at $265

[stable linden]

Ooof, yeah nft craze is rough for gas

[high adder]

Finally today the gas price was not so high and I was able to stake my 1.6 ILV in the ILV pool 🙂 I know its not that much but thats what Ic an afford at the moment and I totally believe in the project

[stable linden]

We all have our own journey 💛

[fresh grail]

We all need to start somewhere

[drifting shell]

finally earnt 300 ILV from staking

[fresh grail]

https://tenor.com/view/oh-whale-swim-whale-cartoon-oh-well-gif-15436720

[digital leaf]

Nice!!

[stable linden]

😅, that's so awesome congrats!
https://c.tenor.com/llGAZzjbDIIAAAAM/tinytim-tim.gif

[placid olive]

im so fking lost man how is it that i have to pay 100$ Fee to buy ILV Coin AFTER that i need to pay 100$+ Again for Staking, the price drops to 80$ fee i have 120$ ETH but it says inufficeitn balance? like wtf is going on

i did pay more fee then investing, eth is making my life so hard i hate it

[fresh grail]

That's the pain of Ethnet when the network is so busy

[drifting shell]

^

[placid olive]

but my questions is, the Gas fee is 80$ i have 120$ ETH still its not enough?

[fresh grail]

It may have spiked

[placid olive]

hmm i think i will struggle months to get my ILV stacking tho, i really hope it was worth it bc the stress and pain i had only bc of ETH is so much that i started hating myself lol

[fresh grail]

If you aren't in a rush to buy or stake. I would set your own gas fee and just wait for it to drop. It may take a few hours or even a day.

[digital leaf]

So I just staked 4.5 ILV and 0.68 ETH and got 1.71 SLP. How do value my investment? Do I watch the value of both ILV and ETH and then add them together? Does the SLP have a value if so where is that found? When the lock-in is finished do I then take SLP back to Sushiswap and exchange it for ILV and ETH

[placid olive]

is there any App how i can check the gas fee? bc i'm always on staking.illvium.io and always refresh and look what the fees are but that takes times always clicking and refreshing to see if gas price is nice

[silver sky]

You can see this easily on zapper fi. That's what I use anyway

[digital leaf]

ok thanks ill look at that now👍

[fresh grail]

https://ethgas.watch/

[fresh grail]

https://dailydefi.org/tools/impermanent-loss-calculator/ this is a simple tool to help with calculating impermanent loss

[drifting shell]

Yeah, Zapper is probably the best way to find your entire networth in illuvium. That being said, investment wise for the SLP, simply if both ILV/ETH go up, you've made money. Check out an impermanent loss calculator

[silver sky]

Honestly that's why I do not like the term impermanent loss, it feels like you lost money but you just traded opportunity cost if they go up. I value ETH really high so if there is some divergence and end up with higher than before in ETH, I am still going to be happy

[meager prairie]

Curios to as why I can't see the gas bot on the pricing section of discord. Wondering if I did something on my end or if it's same for everyone?

[mint cave]

sometimes the gas bot wanders off to the nether

it always comes back eventually

[meager prairie]

Hahaha

Bad gas, bad gas... take a time out!!!

[digital leaf]

I kind of get it but when I look at the rewards they are giving me ILV rather than SLP(ILV and ETH) so everything Im earning is all ILV yes?

[mint cave]

all rewards are ILV yes, you can choose to claim it as ILV or sILV

[digital leaf]

The APY they are quoting is that just applied to the ILV part of the pair?

[mint cave]

based on the SLP token value

[digital leaf]

Say the APY is 500% My total investment of both ILV and ETH is around $5500. So my total investment ends up as 5500x500%=27500. This is then made up of $2750 ETH and $24750 ILV? (if the prices of the assets remain the same)

[strange shuttle]

I’ve dropped this link in community content as well, but wanted to drop it here too because this is a video dedicated to staking and geared towards beginners. I believe I probably answered 90% of the staking questions from the new people finding Illuvium. I think it’s a great resource to refer them to. Check it out!
https://youtu.be/1k0wzjHPcJY

[digital leaf]

Thanks!

[meager prairie]

@strange shuttle I've only got half way through and then had to jump on the bus, however wanted to say so far so good man!!! Thank you for your effort and contribution!!!!

[mint cave]

@jovial sapphire https://youtu.be/C6YugU4zZr4

explains the process from installing metamask, to buying ILV, to staking

[jovial sapphire]

Thanks for the quick assistance!

[strange shuttle]

Absolutely, I want to help share Illuvium the right way, and with the right information. Thank you for watching!

[spiral summit]

How does the 2x exactly work, does it mean it will double by the end of the stake, or is just for higher apy

[strange shuttle]

Your just starting at a higher APY. It will go down in the weeks to come but your getting more throughout that time.

[spiral summit]

Ok, that’s what I figured, thank you

[lime moth]

What is the estimated value of a 1 SLP in USD roughly right now?

[halcyon oracle]

3150$

[lime moth]

thanks 😄

[halcyon oracle]

You're welcome William

[quasi rapids]

Finally managed to stake my 2 ILV tokens today, wanted to wait for <40 gas but don’t think that’s happening anytime soon so just went for it at 62. Super excited for the game

[lime moth]

oh when did it drop to 62? I must have missed it 😦

[quasi rapids]

It was brief, lowest I’ve seen it today was 59 I think so I nearly got the bottom

[lime moth]

how many hours ago did you do the 62 transaction? maybe I will keep an eye at the same time tomorrow 😄 if not later tonight xD

[drifting elbow]

If I am staked on the SLP pool at weight of 2, once I claim my rewards and they go to the ILV pool, do they keep the weight of 2?

[final steppe]

Yup! The rewards will be locked in the ILV pool for 12 months with that weight of 2 🙂

[drifting elbow]

Well, that does kinda mean after I want to take my ILV out, I will have to wait 2 years (12 months lock up and then +12 vest)?

[manic spindle]

If you would wait a full year and only claim your rewards when withdrawing you initial deposit, then yes, it would take two years for your rewards to be unlocked 🙂

[final steppe]

You would have to wait 1 year to take out your initial stake.
And you have to wait 1 year to take out each set of rewards you claim.
The 12 month vest only applies to the rewards you claim, starting on the day you claim them.

[drifting elbow]

Oh I see, the 12 month vest is already the "Staked into weight of 2"?

[final steppe]

Correct, yeah. When you complete the claim transaction, the 12 month vest (with a token weight of 2) automatically begins

Sorry if I caused any confusion!

[quasi rapids]

It took me just a few minutes, was v happy with that. Yeah Sunday’s usually a quieter day as well, especially early hours 🤞

[gleaming brook]

How do we calculate this? Thanks

[arctic plover]

I managed to get 60 gas fees also! I set the "max gas" at 60 on metamask and waited... Glad it worked! :-)

[high adder]

in the Staking explorer linked here: https://cooper1903.shinyapps.io/stakingyield/ can someone explain how can I find out what to put in this two places? APY% of staked ILV and APY% for ILV pool at token weight 2 in the staking screen I only see the 77.12% pool apy

[halcyon oracle]

when you have already stacked, in dashboard there is your SLP token and their value in $

[crimson spindle]

$250 to stake at present.

[marble heath]

hey! I hope someone can answer my question 🥺 is it a bad idea to stake if i only have 1 ILV?

[brisk surge]

not at all. id wait for lower gas but staking is massively worth it in the long run in my opinion...nfa

[marble heath]

even with just that amount of ilv? It's just that I've seen people say that you'd just end up losing money if you stake small amounts but they never really say what they mean by small amount.

[brisk surge]

you'll lose money if you stake less than what the gas price is, but if you wait for 50-60 gas (which admittedly is rare) you wont lose too much. 1 ILV token is worth staking rather than just holding in your wallet in my opinion but when you stake is important.

[marble heath]

Thank you 💙 this is really helpful, I'll take note of this. I'll just wait for gas fees to lower because they are HIGH right now 😫

[ripe steppe]

https://tenor.com/view/illuvium-ilv-illuviumio-yield-farming-staking-gif-22200244

[arctic plover]

If you wait for Sunday morning, you could expect a 60 fee! :-) I managed to buy ilv token with that gas fee today with a bit of wait (I forced metamask to wait for <60 gas for the contract! :-) Don't hesitate if you have question!

[lime moth]

but i heard this is risky and sometimes got to make the transaction fail and take fees away, no?

[brisk surge]

im still waiting to claim 😭

[marble heath]

Oh i see. So your metamask is set to advanced gas controls?

[marble heath]

i heard this too tho 🥲 wouldnt that put your crypto in somewhat of a limbo

lol idk what it's officially called im new sorry

[arctic plover]

Yes exactly!

[arctic plover]

I read that too, and was scared to loose my "fee"... couldn't afford to loose $100 for nothin! Haha
As I was a bit afraid, I asked on this chat and someone (can't remember the name sorry) told me that that you couldn't loose your fee... I tried, and it worked! However, I put "Max gas 60" and it was done in one or two hours... I checked on gasnow where are the best moment (friday night/saturday morning/Sunday morning) and last week, you could expect a 50 gas fee! 🙂

[arctic plover]

I found the initial guidance from "Jeff" ! Here you can read what He said, he's far more a specialist than me haha

[ripe steppe]

weekends under way... hopefully not much longer

[noble bridge]

i finally claimed

[brisk surge]

Guys is there an easy way I’m able to check where my IL is sitting at the moment?

[noble bridge]

but not at a great price:P I just decided to invest more so it forced me to claim

[ripe steppe]

been there... gotta be done

[noble bridge]

the worst part is now i have hardware wallet so have to pay the fees on two different stakings feels bad man

[lavish obsidian]

so how does this differ with Axie as far as the gameplay is concerned?

[noble bridge]

so only part of my investment is on hardware wallet, and so its now like 4x gas fees, on top of cost averaging up haha

[cunning perch]

What do you mean? Your question is too general

[cunning perch]

Smart move 🙂

[noble bridge]

they have a game we dont yet, joking:P

[ripe steppe]

not that im aware of, but it does keep changing as eth/ilv changes, and if ur locked for a year should more than make up for anything lost through IL (not financial advice)

[wet timber]

Can anyone help with information on what the flexible staking rewards are

[lavish obsidian]

I mean this is a crypto game right? based on what I can see on the trailer, this kinda looks like Axie but in 3D which is way more cool.

[brisk surge]

Yeah that’s true, I know there’s calculators online and stuff so probably just a case of using those I guess

[cunning perch]

All rewards are in form of ILV/sILV

[noble bridge]

yes you can use deraji new calculator but right now its not much do to ether pumping with ilv

[ripe steppe]

i mean it says on illuvium.io, just slide the bar on the different timeframes of lockup between 1-52 weeks and u'll see

[lavish obsidian]

I am just really excited for this to be released soon.

[wet timber]

Do flexible stakers get rev dis

[noble bridge]

if you check his spreadsheet under the IL table it can help you calculate, its very minor atm

[cunning perch]

It's a crypto (p2e and p2w) game. I suggest reading about it. 🙂 and it's way cooler than everything out there

!read

[woven ibex]

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

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

[brisk surge]

Thanks mate

[noble bridge]

anytime

[cunning perch]

Every staked ILV gets Rev

[ripe steppe]

yup as @noble bridge said, that helps for getting a rough visualisation of it

[iron glen]

except ice. ice is always cooler. but ice is not a crypto game

[cunning perch]

Well you gotta compare crypto with crypto 🙂

[noble bridge]

you just lose the 2.0 weight compared to staking for 1 years. Rev distributions have a weight value based on token staking vs non-staking

[ripe steppe]

just not as much as those staked with higher weight

[azure grove]

Hey Boulton - wondering if you can help me out here. Having the same issue - SLP is not showing up in Metamask wallet. Other assets are (ETH & ILV) show up properly. SLP is showing up fine on my staking dashboard, but when I try to Migrate as you suggest it says I'm not staked. Any thoughts?

[lavish obsidian]

decentralised system eh, i just hope the devs won't be too stingy about it..

[cunning perch]

When you stake you get 100% share of the revenue spent in game, so....pretty generous if you ask me 🙂

[cunning perch]

U should be able to see SLP in you MM if you add it manually. I can see in mine

[lavish obsidian]

by the way, is this the same with Axie where you buy these pokemon-like creature through ILVs? I can see you need to catch them or something.

[cunning perch]

ILV is not used in game. If you have questions about the game please use #💬〕general this space is just for staking 🙂

[iron glen]

I'm very keen on staking, but I'm gonna wait until the entire western hemisphere goes into their cozy beds and stop pressing on the gas pedal so I don't have to pay 500 bucks for gas fees

[azure grove]

Didn't realize that was an option (new to crypto). Just Googled how to do that. Thx!

[cunning perch]

If tomorrow doesn't get cheaper, then I don't think it will in the week really.

[cunning perch]

!contract add it using these addresses 🙂

[woven ibex]

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

[storm cedar]

hmm, since i only have roughly ~1 ILV token (that I want to stake). the calculator says due to gas fees it would be better for me to HOLD than to STAKE due to all the gas... does this seem right @cunning perch

[iron glen]

it did, at around 1am US time, which is about 1pm for me, it got down to 50 bucks for sushi swap. and then 6 hours later, it was as low as 30 bucks. a great steal, compared to the whopping 160 bucks right now

[cunning perch]

Well your calculated is giving you very convincing NFA 😆

[storm cedar]

NFA? also the calculation was using safe price estimates.. but I have no problem holding ILV 😄

i used the pinned calculator

[cunning perch]

You're making me wanna stay awake for 48 hours now to see for myself 😆

[cunning perch]

Yeah. For 1 ILV I'd exercise caution and wait for lower gas, otherwise you end up paying half your asset value for gas

[storm cedar]

oh yes I agree. I dont feel comfortable staking for than 1 ILV. I'll save my $ for land 😉

[cunning perch]

Happy hunting 😁

[toxic hound]

If I hold a ILV token without staking it would I still be able to get the supposed revenue share?

[mint cave]

no

only staked tokens receive revenue distribution

[toxic hound]

for the revenue distribution would we get more ILV token that's locked or ETH?

[mint cave]

unlocked ILV

[marble heath]

i hope you dont mind me asking, how does having a hardware wallet affect gas fees?

[toxic hound]

I see thanks! Does the gained rewards from staking also get the revenue share?

[mint cave]

yes, but only if you claim them

unclaimed will not receive it

because when you claim, you are staking the rewards into the single asset pool

[toxic hound]

If I claim it would it's still "locked" right? and the reward would also be staked after claiming it?

[marble heath]

hey! if i'm trying to stake, do all of these fees in the "!fees" command apply to me? I'm not that familar yet sorry

!fees

[knotty river]

Fast: 253 Standard: 249 Slow: 249
Simple ETH TX: $20.64 (0.0053 Ξ)
Token Approval (ERC20): $50.25 (0.0129 Ξ)
Token Transfer (ERC20): $47.13 (0.0121 Ξ)
Uniswap Trades: $118.41 - $197.09 (0.0304 Ξ - 0.0506 Ξ)

[brisk surge]

yes, they do apply. you'll have to pay gas whenever you stake

[solemn spade]

Is it correct that the minimum amount to stake is 1 ILV, so approximately $600 to start?

[sinful pond]

The actual staking price will be much higher. The staking contract is more complex than the transactions listed by the bot. Also, right now is an unusually high gas price--better to wait a bit for things to calm down

[mint cave]

there is no minimum, but gas fees should be a factor when considering how much you'd like to stake

[marble heath]

i see. thank you

[sinful pond]

That said I think if you can get gas at 80 or less (sometimes happens these days, gas is just generally high now) you'd need a couple hundred $ or so for staking (give or take depending on # of transactions you need, e.g., from claiming and restaking). We all miss the sub-20 gas days...

[marble heath]

i think it was somewhere around 40 earlier today (from where i'm from)🥲 but right now I don't even wanna talk about it lol

[silver sky]

@mint cave RevDis goes to both flexible and locked staking correct? What happens when someone's locked stake period is over? You had mentioned they continue to hold the same token weight until they claim in regards to yield farming. Does that apply to RevDis as well?

[mint cave]

yes

you are still considered staked in any circumstance until you make the unstake transaction

[iron glen]

I am excited for sushiswap gas fees at $30

[prisma temple]

If I am planning to stake $5k, do you guys think that is a large enough amount to justify the gas fees say tomorrow morning? Or should your boy be waiting a week or two and suppress the FOMO

[brisk surge]

in two weeks you might miss an under $600 entry...nfa

[solemn spade]

Is there an advantage to staking at the ILV only pool vs the SLP pool, considering the APY seems to be much higher on the SLP pool?

[arctic plover]

I suggest you to read all the articles from Deraji ( https://www.publish0x.com/ilvfi/staking-illuvium-ilv-part-1-staking-basics-xelemgg ) as they might answer a lot of your questions! 🙂

[icy ocean]

ILV pool dos not have impermanent loss and it is cheaper to claim, stake

[brisk surge]

ive never seen this chart before, thanks for the link!

[umbral crane]

is there any update on staking v2?

[ruby wing]

Thanks for sharing this, good summary for newcomers 🙂

!staking

[woven ibex]

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

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

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

[ruby wing]

@solemn spade also see tutorial here :))

[solemn spade]

Thanks for all the links! These are definitely helpful for those trying to start 😆

[wanton nova]

Don't think so. I think Aaron hinted that something will be released after council election?!

[umbral crane]

makes sense, probably dont wanna drop the proposal in the middle of an election

[grizzled thistle]

Curious, how many many total ETH gas transactions would staking in the SLP pool be starting from the beginning

[rotund sundial]

Hi, is sILV count in the max 10 million supply of ILV or it's just a whole different token ?

[manic spindle]

!silv sILV can only be claimed from yield farm rewards via staking. There will be 3M rewards in total over three years so that's the theoretical max for sILV. Every sILV claimed prevents an equal amount of ILV to be minted and thus reduces the total max supply of ILV 🙂

[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.

[rotund sundial]

I see. Now I understood what the Total supply 7,000,000 mean LOL sorry, quite new in this crypto market. Thank you.

Another question, if the stakers choose to claim ILV instead of sILV, then the total 7,000,000 supply will be increased, isn't it ?

[ripe steppe]

total supply is 10mil, the more sILV that is claimed the less ILV tokens will actually be minted so the lower the total supply will be (which also assists ILV price to go upwards as decreased supply increases price)

[rotund sundial]

Tnx, got it!

[lime moth]

Can anyone using binance from europe tell me the best way to deposit euros? I have the visa/master card option but costs 1.8% fees, there is also P2P and Advcash. I have seen on youtube that there is SEPA which costs 0 fees (but it doesnt show up for me) and some people has even visa/mastercard for 0 fees (idk how)

[cunning perch]

I used the use AdvCash to deposit Euros to Binance.com. It has zero fees for deposit/withdrawal to/from Binance and it's instant.

[feral marlin]

!fees

[knotty river]

Fast: 103 Standard: 101 Slow: 101
Simple ETH TX: $8.49 (0.0022 Ξ)
Token Approval (ERC20): $20.44 (0.0053 Ξ)
Token Transfer (ERC20): $18.9 (0.0049 Ξ)
Uniswap Trades: $47.83 - $79.45 (0.0124 Ξ - 0.0206 Ξ)

[orchid summit]

Should i buy ilv token?

[cunning perch]

That's a questions with one answer: no one can give you Financial Advise here my friend and you should listen to no one but your heart and brain 😁

[orchid summit]

Ok thank you

[umbral crane]

yes sorry arash, im giving financial advice

[cunning perch]

Ok good to know. Haha make sure you wear bullet proof vests 😆

[uneven flare]

Anyone know if I can transfer my locked stake pool from MM hardware wallet to a new Trezor wallet?

[ripe steppe]

Not until its unlocked and then u can transfer it over and restake from there if u wish

[lime moth]

I just created an account there, to deposit on advcash it needs 3.5% with visa/master card, there is SEPA option which is free but it says that it takes 3 business days, does it take really that long? or is it maximum and usually take minutes?

[uneven flare]

got it, thanks for the reply! 🙂

[cunning perch]

Never used SEPA really. I got the card as well and send money from Binance there and use the card.

[lime moth]

oh from binance to there? not the other way around? maybe i have misunderstanding

[cunning perch]

From Binance to AdvCash and from AdvCash to Binance it's zero fees (for Euros) Then you have to pay fees if you want to sent to your bank or to their card. (also if you wanna charge your Adv account of course they charge a bit) Haven't used it for some time really, but it's pretty fast and the support quite helpful

[lime moth]

yeah, the charging part there is the one i meant, it costs 3.5% fees to deposit from card on advcash, thats quite more expensive than the 1.8% charge on binance

[cunning perch]

Hmmm. Then probably not a good choice for you. Anyhow, it's still an alternative 😎 you can add it to the list

[lime moth]

Haha xD, so nothing could do it less than 1.8% fees on depositing euros into binance? it feels like i am putting extra gas fees aside just by depositing 😄

[cunning perch]

Well, I myself use Binance.tr in Turkey, the only fee I pay is my bank fee which is pretty small. I don't buy directly with bank card from Binance. Just deposit (simple money transfer) buy ETH, and send it to MM

[lime moth]

simple money transfer or SEPA doesnt show up for me, only via card, P2P and advcash 😄

[cunning perch]

Haha well now you have 3 options to choose from then 🙂 life hurts. All about fees and stuff. Try choosing the fastest and safest.

[lime moth]

I guess xD, let's hope the gas fees calm down soon and make up for this 😄

[cunning perch]

If by tomorrow it's not cheaper (I mean under 50 Gwei) then I don't think we'll see cheap in the week days. But who knows, anything can happen.

[dusk minnow]

Am I using this calculator correctly? If I use these assumptions the best strategy is to never claim?

[brisk surge]

I’m not sure what went wrong but something doesn’t seem right. With that amount of slp you could claim somewhere between every month and every two months and it would be pretty efficient I think

[dusk minnow]

I'm putting $160 for gas assuming two transactions at $80 per each time I stake. Is that reasonable?

[brisk surge]

Well a week ago I would have said no but unless you want to hunt really hard for 50gwei $160 might not be too high.
I’m shooting for 4 ILV before I claim right now to make it worth it to me.

[arctic plover]

Sadly, I can't use the money transfer/SEPA on Binance either... And i'm pretty sure i saw the options last week 🤔 So I charged my account with EUR and then I bought the ETH. I had lower fees then directly buying the ETH with my MasterCard... But yeah, it sucks when you know there is a lot of gas fees to pays afterthat haha

[dusk minnow]

Ah the biggest factor here is the SLP and ILV fortnightly pool volume increase

[lime moth]

yeah going through the same atm 😄

[dusk minnow]

The assumption is that SLP grows by 18% and ILV by 9% based on some historical ILV Blockchain growth data. So in the one year of staking lockup, expected to make ~7 ILV. Pools were not probably not growing at as a quick a rate in the past

[arctic plover]

Courage ! 💪

[bitter dock]

hi all. if i stake ILV, does the rewards automatically get reinvested if i don't claim it? or would i have claim the rewards and re-stake the ILV from the rewards?

[cunning perch]

Hey. You can stake ILV in either pool and claim your rewards as either ILV or sILV everytime you choose. ILV will be locked for one year AFTER claiming (paying gas) and it'll compound with your stake with the weight if 2X, while sILV will be released immediately to be used in game. Either way, you have to claim manually. Be mindful of gas.

[brisk surge]

where do i start i'm debating on buying illuvium

[cunning perch]

!read hey you can read about ILV here and buy from Sushi swap should you wish so.

[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

[brisk surge]

i just want to know what the steps are to buy

[umbral crane]

check out the pinned messages and the youtube video from Rahlord. Basically explains the whole process

[brisk surge]

how do you find pinned messages im new to discord

[umbral crane]

https://www.youtube.com/watch?v=C6YugU4zZr4 i jus followed this step by step

[cunning perch]

Yeah to know how to buy, you can check the pinned messages. For details, you can read the mediums I sent above

[bitter dock]

Thanks for the info! So the ILV that I stake will be released in one year (assuming you choose a year), and the ILV rewards are released one year after you claim those rewards (which can be done frequently throughout the year)? is that correct? it seems that it would be advantageous to claim your rewards early, to have the compound effect take place, just minding the gas fees. is there an optimal wait time before claiming?

[cunning perch]

There is a pin on the top of the page (swipe left if on phone )

[umbral crane]

theres an excel sheet somewhere i think in the pinned messages as well where you can put your numbers in and see what optimal for you. A good rule of thumb alot of people have is when gas is 1%-2% of the reward value u should claim

[cunning perch]

You decide how long you wish to lock your ILv for. Collected rewards in from of ILV on the other hand, will stay locked for one year AFTER manually claiming. So the sooner you collect, the sooner you get them. Also all the staked and claimed ILV will receive Revenue

[bitter dock]

thanks, ill definitely check out the spreadsheet! and theoretically, all the ILV would be released after 2 years time right? one year for the initial stake, and another year for the latter part of the rewards earned from the initial stake?

[cunning perch]

3 years. Everything will fully enter circulation in 3 years. YF also ends in 3 years. 🙂

[bitter dock]

why is it 3 years, instead of 2? just for my understanding - i think im missing something. and what does YF mean? sorry if the questions are very basic

[umbral crane]

3 years is for all of the total amount of ILV tokens to enter circulation. All of yours will be in two but one year later you can reinvest again if you like your initial once its unlocked. Yield farming is the SLP pool, when you match the illuvium with an equal value of ethereum and get the insane apy. That ends in 3 years once all the tokens are farmed.

[bitter dock]

gotcha! thank you so much for the info! really appreciate it

[umbral crane]

No problem!

[cunning perch]

YF = Yield Farming and RevDis is Revenue Distribution. You'll see these two a lot in the Discord 🙂

[bitter dock]

good to know, thank you to you both!

[open steeple]

hi guys, i have SLP staked and i was thinkiing to put some into the ILV pool, will the rewards on the slp pool be claimed when i stake on the ILV pool? i know when we claim SLP it makes both claims

[north sundial]

does anyone know how much sILV has been claimed in total?

[eager bough]

I'm sure a mod is right behind me to confirm, but I believe that to be true as well.

[elder dawn]

just over 8000 sILV claimed so far

[bitter dock]

why would one claim sILV right now, when the game isnt released, and you couldnt actually use the in game currency?

[unique bear]

Hey all, just after opinions on the most economic way to do the following:

I've got 25% of my next SLP stake tied up in XYZ currently staked in the Flash pool and 75% sat in my wallet as Eth.

So I wanna swap 25% component of Eth for ILV and the entire XYZ stake to ILV and then provide liquidity ILV/Eth pair to stake. I want to know what will generate the least amount of gas fees. I was thinking the following order:

1. Unstake XYZ stake
2. Swap/transfer XYZ for ILV in sushi swap
3. Swap some Eth to ILV
4. Create Eth/ILV pair
5. Provide this as liquidity
6. Stake SLP (claiming rewards in the process)

Would anyone agree on this? My main query is whether I need to claim the XYZ rewards if I unstake the XYZ and if it auto claims any other existing rewards in the process?

[ripe steppe]

the orderred seems as good as i can come up with, id say dont claim the XYZ rewards, unstake the XYZ first, this may automatically claim the rewards or not (but this way if it doesnt claim the rewards u save on 1 transaction) then u do the rest of your list, when staking the SLP if the XYZ rewards didnt autoclaim u will then claim them all in one go alongside staking SLP (happens together but it is still multiple transactions) so i think u have it all figured out, just make sure you have enough ETH left in your wallet for transactions (0.15ETH to be super on the safe side and whatever is left over u can use in future to claim rewards anyways)

[north sundial]

Hi Deraji, Loved your articles. How did you get that info?

[fresh grail]

https://etherscan.io/token/0x398aea1c9ceb7de800284bb399a15e0efe5a9ec2#balances

[elder dawn]

Xastor's dashboard - https://dune.xyz/queries/109153/221218 And thanks! Glad you enjoy them!

[fresh grail]

ohhh that's a better one. Cheers

[unique bear]

Cheers for that. Good to get a second opinion. I'm hoping that unnstaking the XYZ doesn't make me claim rewards as they are probably only large enough to pay for a gas transaction. But regardless I want my cash in SLP as I'm looking at years ahead so will just suck up the gas for now and forget for a while!

[north sundial]

much appreciated

[boreal saddle]

hi! noob question, once the staking of xyz finishes, is it okay if i just leave my tokens there for awhile? i dont have enough gas to withdraw it
sorry no one is answering in the other chats so i posted it here

[exotic igloo]

Yes sure

You can leave them there as long as you want

[boreal saddle]

alright thanks a lot!

[rapid granite]

Hey guys I’m looking to put $750usd into staking but not sure what the best option is to do. I have watched some videos but still unsure. Is anyone able to help me out ?

[umbral crane]

https://www.youtube.com/watch?v=C6YugU4zZr4 check this video on how to stake and chek this image for the differences

[rapid granite]

Appreciate it man

So which one is the one that would be locked?

Or is that something completely different 🤣🤣 (I think the slp right ?)

[umbral crane]

u can be locked or flexible in either. Locked gives you higher apy so more rewards. The ilv pool is jus ilv and the Sushi liquidiy pool u need to match the value in eth

[rapid granite]

Ah i get you makes sense. So for the simpler staking the ilv, and for the more complicated u do Slp

Why does the slp provide such a higher roi as compared to the other, is it because you are providing liquidity by using eth?

[rapid anvil]

If I claim sILV will it go to my wallet? Or to the staking system

[ruby wing]

Wallet. You will need to add the contract to see it

!contract

[rapid anvil]

Fuck

[woven ibex]

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

[ruby wing]

sILV does not compound

[rapid anvil]

I guess I’m not buying land than. Don’t want this shit to hit my wallet yet .

[ruby wing]

Lol

[rapid anvil]

Ato will be like if they see it so nahhhhahahahah

[manic brook]

Can ATO see our wallets?

[rapid anvil]

Not on the staking I can’t track staking

ACTUALLY FUCK YOU CAN LOL there is a way you can

Well it hasn’t hit our wallets bud. It’s not our wallet technically. It’s ILVs wallet so they can pay my tax

That’s why personally I might never touch my staking rewards

[manic brook]

Gotcha. My understanding was CGT once it hits fiat or changes crpto coin (eg. BTC - ETH). I just want to let compounding do it's thing for as long as I can. ATO can get their share at the end as CGT eventually.

[rapid granite]

Is it a no brainer to use the sushi liquidity pool, can someone explain why u wouldn’t use it ?

[rapid anvil]

Once it hits your wallet that’s when you pay taxes . Technically it’s not your wallet and not your money “yet”

That’s how I look at it.

[manic brook]

Awesome thanks, I'll look at that. Makes sense.

[rapid anvil]

Through a ether scanner I can’t just look at their illuvium rewards …. I mean through an app you can but it’s not in my wallet yet sooo

Tax that

[umbral crane]

imo yeah use sushi lp. Look into impermanent loss though, thats the main difference and risk factor

[rapid anvil]

It’s not worth it short term. It’s worth it when you have a lot of money also. It’s worth it in a years time. If you are short term the ilv pool is best

[umbral crane]

yeah of course lock in for 52 weeks. I think also locking in for 52 weeks is a must, but that stems from my belief in the product

[rapid anvil]

For sushi absolutely!

[rapid granite]

Yeh I watched a few videos , I didn’t realise how many gas fees need to be paid for the silv

If I’m gonna stake with $750 usd, I don’t think it’s worth it considering all of the gas#

[umbral crane]

ye wit 750 usd it wud need to be 250 eth 250 ilv and then save 250 for gas and do it in about 6 hours when gas fees are lowest but ye idk if its worth it when 1/3 goes t ogas

[iron glen]

well liquidity pools have higher risk of getting hacked as well, so its not just impermanent loss risk. you get rewarded for taking higher risks

[rapid granite]

Exactly my thoughts , so I think the ilv would be more worth it for me, considering I’m not sure if I would want to hold for a whole year yet

[umbral crane]

never heard that before, why wud it be higher risk of getting hacked

[rapid granite]

Although less roi, I think it would be better for myself . Thanks guys for the help I appreciate it !!

Also just confirming if I buy ilv on metamask, i can directly stake it on the illuvium website by connecting the wallet yeh?

[rapid anvil]

I will publicly show myself deadlift as much as I can with no prior training in celebration if we hit 2k

[iron glen]

well I supposed it's not a lot higher than any thing else that uses smart contracts, but it's mostly because of technical reasons i.e. there could be bugs in the smart contracts that have not yet been found etc. and you have pretty complex contracts being used when staking in liquidity pools. that being said, it's still fairly rare for hacks to happen

[umbral crane]

not sure i always did the slp pool.

[iron glen]

I'm just waiting for gas fees to be lower before staking into the SLP pool. Any rough estimates what the gas cost right now would be for a first-time staker in the SLP pool?

[short pollen]

Look for gas to be under 90. Tonight or early tomorrow. Keep over 200$ of eth in your wallet. Check prices on gasnow.org or etherscan. Just made my LP for oround 65$ gas fee +

13 confirm wallet

[iron glen]

Got it, cool. Thanks dude

[true spire]

Yo guys, how do you actually claim the liquidity pool trading fees that you acquire from ILV/ETH pool? 😮

[rapid granite]

Someone said around 250🤣🤣

[azure jewel]

I plan on claiming mine when my lock expires in December

[iron glen]

lol yea. thankfully now it's lower and dropping

[mystic thorn]

its nice and low now

[lime moth]

is registration on illuvium website not working yet? can i stake without being registered?

[ruby wing]

You dont have to be registered to stake haha

Registering rn just gets you the newsletter 🙂 which I highly reccomend

[lime moth]

hmm, then how does the website recognize the staker? how does it show me my balance and rewards later if there is no login/account? I registered my email but didnt receive any newsletter yet

[mystic thorn]

connect your wallet

[toxic hound]

Hi everyone! I'm planning on staking 7,600USD and keep it around 5-7 months, what's the best pool for me? I'm mainly looking forward to the capital appreciation of ILV as I expect it to go up once catalysts come. Is there also a place where I can see estimates on how much I could gain from staking for example in 2 months time?

[ruby ridge]

that's why it's called crypto, everything is a network of codes and encryption on the net. chill, once your private wallet is connected you're set

[lime moth]

aha, its my first time ever dealing with crypto thats why i was wondering. thanks for clarification 😄

[ruby ridge]

no worries, not so new but totally new to staking as well. this community especially the mods has helped me a lot during the initial stage when I was trying to stake hehe

[mystic thorn]

THe SLP stake is riskier but has a chance for higher rewards because of the APY but the safe game is just ILV

this is great

[toxic hound]

yeah I was just thinking that maybe it would be better to have more ILV tokens than to have my money split between ethereum and ILV in the sushi pool. That's why it's hard for me to decide on it right now ahaha

[mystic thorn]

well if you like high rewards go SLP if you wanna safe game it go ILV

[toxic hound]

The link is telling me that I need to request access

[mystic thorn]

access to what? your wallet?

[ruby ridge]

https://docs.google.com/spreadsheets/d/1gj_tPlLzAdeReC0Ne9BcxKN2OJ6xK1nl-9JJ2YW0WWI/edit#gid=259609908
sorry mate, that was a private copied ver haha. here's the original

[clever thorn]

Hi everyone, I would just like to ask how much minimum required ETH u need for staking ILV?

[toxic hound]

the google sheet link hahahaha

[mystic thorn]

hmmm thats odd

[toxic hound]

Yeah it's find now @ruby ridge sent the public link. Thanks!!

[mystic thorn]

yupper

[toxic hound]

I have a question. If I invested 10ILV and the APY is 300% would I get 2.5ILV per month? Since I'm assuming that the gain would be 25% per month

[mystic thorn]

well it is subject to go down over time

[toxic hound]

But assuming that it's constant is my assumption correct? or are there any other variables like compounding?

[forest flint]

Hello, I have 4 ILV, is it even worth looking into staking?

[mystic thorn]

Of course! that is a great amount that is 100% worht it becuase if you lock it for 52 weeks it becomes 8 coins and not the mention the rewards you get during that process that include ilv or Silv

[forest flint]

Thanks! Where can I learn how to stake it? It's my first time

[lime moth]

is it normal that staking gas fees much higher than converting ETH to ILV transaction?

[mystic thorn]

yes it is

[mystic thorn]

https://www.youtube.com/watch?v=J2lJ6WWRuNQ https://www.youtube.com/watch?v=yVeJ1OOlA3g

[mystic thorn]

check out these 2 videos

[forest flint]

Thank you very much!

[mystic thorn]

no problem my guy!

[brisk surge]

No the APY is based on the dollar value of the SLP tokens you have staked vs the dollar value of the ILV you receive. Rewards in the SLP pool can be highly vairiable.

The whitepaper should explain all the factors contributing to the pool APY.

[gusty osprey]

Where can I check gas fee price ?

[mystic thorn]

right side where all the names are youll see a bot named grastracker

[karmic coyote]

hey im trying to stake but it shows my balance is 0

[mystic thorn]

did you buy it and connct the wallet that has the illuvium?

[karmic coyote]

yes i got ILV and should have enough eth

[mystic thorn]

in the wallet and did you connect it to the illvium website

[gusty osprey]

Oh thxxxx so much !

[mystic thorn]

np man happy to help 🙂

[karmic coyote]

yes

[mystic thorn]

im not sure then

[gusty osprey]

But damn, too way high for 1 ILV unfortunately, so sad 😭

[karmic coyote]

the balance shows up when in ILV but not SLV - am i doing something wrong here

[brisk surge]

You need to manually add the token address to your wallet
its in one of the pinned messages.

[karmic coyote]

where can i find SLP address to add to my meta mask

[mystic thorn]

https://etherscan.io/token

[carmine drum]

!contract

[woven ibex]

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

[karmic coyote]

ok legends thanks

[marble heath]

!fees just checking fees 🥲

[knotty river]

Fast: 77 Standard: 75 Slow: 75
Simple ETH TX: $6.19 (0.0016 Ξ)
Token Approval (ERC20): $15.08 (0.0039 Ξ)
Token Transfer (ERC20): $14.31 (0.0037 Ξ)
Uniswap Trades: $35.57 - $59.54 (0.0092 Ξ - 0.0154 Ξ)

[brisk surge]

I feel the pain, im hoping I can find some under 50 gas tonight!

[marble heath]

hopin and prayin lol i wanna stake already

[brisk surge]

Im getting ready for my first claim. I'd be more excited if i didn't have to stay home all night on a Saturday to get done at a reasonable price.

[karmic coyote]

pros /cons claiming SLV vs ILV rewards?

[iron glen]

ITS LOW GAS TIME

[mystic thorn]

!fees

[knotty river]

Fast: 89 Standard: 88 Slow: 88
Simple ETH TX: $7.35 (0.0019 Ξ)
Token Approval (ERC20): $17.41 (0.0045 Ξ)
Token Transfer (ERC20): $16.63 (0.0043 Ξ)
Uniswap Trades: $41.39 - $68.86 (0.0107 Ξ - 0.0178 Ξ)

[marble heath]

is it possible to get a 50 later?

[karmic coyote]

pros /cons claiming SLV vs ILV rewards?

[ashen tiger]

Gas fee? Possibly could drop that low over the next few hours. That's the time when it has before but lately it's been so crazy I wouldn't be surprised if it didn't.

[ashen tiger]

ILV will immediately get staked and locked for 12 months and earn you more rewards. sILV is immediately available to use but can only be spent in game and for land auction

[clever thorn]

is it normal when u want to stake your ILV you will pay 100$ to 200$ just for the gas fee

[karmic coyote]

what have u been claiming? seems like ILV better long term?

[ashen tiger]

Lately, yes unfortunately. Gas fees have been consistently high

[left hinge]

Seems that way yes

[clever thorn]

oww I see. thanks guys for the response.

[ashen tiger]

I haven't claimed yet but I've only been staked a short while. Still deciding myself what to do when the time comes.

[karmic coyote]

ok

[ember basalt]

do we still pay 2 gas fees for claiming SLP pool? i haven't claimed in a while.

[iron glen]

For people who want to start staking on the Sushi LP pool but worry about gas fees, here's the breakdown of all the gas fees you're gonna get charged along the way. This data is from my own experience only, so do note they can fluctuate drastically in tandem with gas fees. For now, 5am UTC seems to be a GREAT time for low gas fees.

$18 - transfer ETH from binance to metamask
$44 - swap ETH to ILV on sushi swap
$17 - sushiswap's ILV spending approval
$66 - provide ETH/ILV liquidity on sushi swap to get SLP
$15 - illuvium's SLP usage approval
$71 - staking SLP

Grand total: 231 USD in gas fees (at a time when there's relatively low gas fees)

[elder dawn]

yes, presuming you have rewards in both the ILV and SLP pool, claiming the SLP will be two transactions and fees. with current gas, it's $60+ and can go WAY UP at peak times. Don't claim ILV pool ever - only claim SLP as it should almost always have more rewards and will automatically claim the ILV pool.

[ember basalt]

it's weird because when I adjust the max gwei to 80 in metamask it still gives me $130 / 0.03 eth as gas fee.

i guess i need to adjust the gas price as well

oh yeah I forgot this was an overestimate.

[ripe steppe]

If ur staking, the staking transaction is more expensive than a normal one as it is more complex a transaction

[unique bear]

What was the typical Gwei you were experiencing for these transactions?

Seems to be jumping around from 70-130 at the moment. Still high

[austere cliff]

I thought gas is supposed to be low on sundays... smh...

[unique bear]

Low if you're staking $1mil 😂

Tough gig being a tadpole in the liquidity pond

[ember basalt]

im trying to claim from slp pool

gas is a bit high now. welp. im just gonna wait again

[ripe steppe]

Lol that shouldnt be that high, for sure wait for lower gas

[ripe steppe]

Also getting that for under $70 has been rare these days also though, patience or recalculating claiming frequency based on higher gas prices (using derajis calculator in the pins)

[ember basalt]

$70 per pool so that's $140. ouch

[ripe steppe]

Maybe half that, dont quote me

[digital ether]

when i staked iLV there was an option for reward in iLV or sLV, i think i didn't pick any and just clicked ok, did i screw up my rewards?

[ember basalt]

last month i was claiming for 15 gwei lol

[ripe steppe]

Ur good, whenever u claim ull be able to pick between the two, as u can see when u go to “rewards” in illuvium.io

[ripe steppe]

https://tenor.com/view/reminiscing-those-were-the-days-the-good-old-days-good-old-days-past-gif-11810763

[gloomy gazelle]

2gwei was my all time low. I tried a 1gwei but I ended up canceling it. I had some transactions I needed to do.

[digital ether]

my 2nd time when i staked i picked sLV and immediately the ethexplorer showed i reeived some sLV, the first time i didn't get anything

[ripe steppe]

Then likely it was ILV and it was restaked. Check the ‘vesting’ tab on illuvium.io, u can see it there

[digital ether]

thank you, under vesting i just see the 2 times i staked, nothing else. when i stake the 2nd time, you see i got sILV, first time i didn't get it, just making sure i didn't screw up and i will be able to receive staking rewards later

[ripe steppe]

Should have no trouble receiving rewards in future since both your stakes are in place

[digital ether]

thank you for your time, appreciate it

[gloomy gazelle]

Sounds like when you made your second deposit when it required you to claim rewards beforehand you chose to claim the rewards as sILV and no as ILV.

Next time you claim choose either ILV or sILV and you will get what you choose.

[digital ether]

ahh... that makes total sense now, so each time i add to my stake i can claim rewards in any of the 2

[gloomy gazelle]

All rewards from the same pool (ILV only pool or SLP pool) are accrued together.

[digital ether]

you guys really got this staking thing down, this is awesome

[clear cape]

lol there's a LOT of discussion when it comes to staking such as the best frequency to claim rewards, impermanent loss in different scenarios etc

[ember basalt]

ok i tried claiming for 90 gwei and it gave me 90$ for one pool and 70$ transaction fee for the other pool

i noticed that the second txn had a bigger gas limit

i'm guessing that's why it got charged higher. can I play around with the second gas limit next time to have the same as my first txn?

[gloomy gazelle]

No don’t.

The limit is higher because it must be higher. It’s a more complex contract transaction. If you lower the limit you risk running out of gas. You will then pay the gas but not actually finish the transaction.

[ember basalt]

alright. i figured as much. i don't want anymore expensive lessons. thanks!

[steady trellis]

Do you refer to what meta mask shown you ? Or the real cost seen in etherscan ?

[ember basalt]

real cost in etherscan

[steady trellis]

👍🏻

[steady trellis]

If you're interested by doing some simulation on ILV/SLP claiming and ROI. We've done a lot of changes and improvements with Deraji in this google document : https://docs.google.com/spreadsheets/d/1eupQ4baU_GGR3WAk5fDrQI29O4jJcc_bd9ueaiPk-Gg/edit#gid=1162826494

[frozen sable]

Hey guys so I Have my ILV just sitting on ledger right now, I am going to stake it but haven't yet because 1. Been trying to buy as much as possible first before locking in contract (for 12 months if regular pool). 2. I cannot decide between the regular ILV pool or providing liquidity through Sushi. I've never provided liquidity before, I read everything about it in the proper section here, but still just am a little unsure of how risky it may be to do sushi pool. For example i read that if price diverges 5% from each other than I loose money. Thats cool but what does that exactly look like lol. Like if that happens and I sell at a loss do i loose all my staking rewards basically. And how often does Impermanent Loss happen with Illuvium. or any other coin at that? Sorry for such a long post but I really believe in ILV and want to do a lot more than just Hold it.

[cunning perch]

look at it this way: if ILV goes up insanely and ETH doesn't, to keep the balance, the pool will sell your ILV and buys ETH. This can happen the other way or both can crash in case of a crash. This is the scenario with SLP. ILV pool on the other hand is safe-er and you get fewer rewards for it. in any case both can be locked and you cannot touch them. So you have to decide accordingly

[azure jewel]

correct me if im wrong. once my locked staked is unlocked after the certain time period It will cost gas to withdraw it?

[cunning perch]

you are absolutely right my friend 🙂

[modern mulch]

Will I only loose the money I staked or also my rewards? In case Illuvium goes up to something like 3k and Ehtereum stays the same, I would not care loosing my staked money if I got enough Illuvium as rewards to compensate.

[cunning perch]

losing ILV is only for the SLP, not the rewards. IL happens only to the LP

[azure jewel]

stupid question now. why is gas $169 when gas tracker is under 80 gwei

[cunning perch]

staking is more gas consuming, Also MM uses a bit more gas.

[azure jewel]

Thank you for explaining! ❤️

[cunning perch]

no worries friend 🙂

[modern mulch]

Did you guys change your gas limit in meta mask to something really high? I did read that some people had problems and saw a "fix" to set the gas limit in meta mask to like 500k when doing the transaction

[cunning perch]

I always add 50,000 to be on the safe side

whatever gas limit is, I add 50,000 more. It's not always a MUST, but I've lost enough gas due to "running out of gas" error That I always add that number to be on the safe side even if it costs more.

no worries 🙂 at these prices, I hate to lose $ for an unsuccessful transaction really

[cold flint]

Just came to a realization that the money I made in ILV in one week is about as much as what the average employees do in one month in my country. I feel motivated to stake more.

[cunning perch]

That's the spirit. 🙂

[frozen sable]

How often does impermanent loss occur with illuvium do you think?Like is their a rule of thumb when using pools to only do it for certain length to be safe or something. Can I spend a year straight in the slp pool without getting impermanent loss, Or is that completely unrealistic?

[cunning perch]

not clear really. We never know when prices pump/dump. I'd say consolidation is best for SLP. but when you enter LP, you have accepted all the risks it involves. That's why you have to devise a plan and stick with it and accept whatever responsibility comes with it 🙂

[storm elm]

is there any calculator to see how much u get from staking

[cunning perch]

All ideas for how much you get is only speculation as APY drops and keeps dropping. Best is to get in early, but all is NFA

[silk creek]

Just a newbie question, for me to provide liquidity in order to get slp token. I need both eth and ilv token with a ratio of 50/50 in my metamask?

[minor thicket]

So i have 2 very noob questions someone might be able to answer:

1. If i stake 5 ILV locked in for 6 months, at the end of that 6 months is my initial 5 ILV accessible straight away or does it need to be claimed with the rewards and vested for a further 12 months?

[cunning perch]

yes. like $10 ETH + $10 ILV 🙂 make sure you add the tokens manually to MM

!contract

[woven ibex]

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

[minor thicket]

2. is sILV able to be sold off the other users. If its tied to $1 usd for example can i sell my s!LV from staking to another player for $?

[cunning perch]

when locking ends, you can withdraw (pay gas) or you can leave it there for RevDis when it starts. ALso you can withdraw and lock for one year again for more weight

[cunning perch]

officially sILV is not sellable/buyable and is only claimed as YF rewards should you wish to claim it

[indigo oasis]

Hey! I can't add a pool to illivium site… should this be done only on sushi?

[silk creek]

Alright thanks

[minor thicket]

thanks arash

[cunning perch]

you can't add a pool anywhere. you can only stake ILV on ILV website. or receive SLP from Sushi and then again lock it on ILV website

[cunning perch]

no worries 🙂

[vague sierra]

hey guys, i have a question about claiming, i have both SLP and ILV pool and when i claim (by clicking on the SLP button) it only claims the ILV core pool while in the past it would claim both pools. am i doing someting wrong?

[minor thicket]

sorry to be a pain but just want to try and wrap my head around this. If i stake 5 ILV locked in for 1 year, at the end of that 12 months both initial investment and apy rewards can be accessed (and potentially sold) as ILV immediately? or after the first 12 months, is there another 12 month wait (vesting period) for the apy rewards i received on my initial 5 ILV before being accessible?

[arctic plover]

From what i've understood, your initial ILV will be freed in 12 months. For your ILV rewards, as soon as vou claim it, the 12 months vesting period starts!

So if you claim your rewards at the end of the 52 weeks (which i suppose is the best thing to do, if you don't want to loose your gains on gas fees), you'll have to wait another 12 months for the rewards to be available

But, even if your initial investment is available in 12 months, it's still considered "staked" and such, grants you revenu distribution at x2 weight. maybe it will interesting at this stage to let it staked if you would like passive income, etc... Not Financial advice obvsiouly, i'm still a beginner. If i said something false, please correct me guys! 🙂

[unique bear]

Do you think there will be a way to claim a batch of unlocked rewards ILV once the 12 months Vesting is up? I just staked some more SLP and it made me claim the tiny amount of ILV I had in the ILV pool. I've also got another 3 or 4 amounts less than 0.1 ILV due to this, so it would absolutely suck if I have to pay gas to liquidise those amounts in the future

[arctic plover]

Not sure to have understood your question correctly. You've put previsouly ILV on staking, and so you've gained ILV reward. You then decided to put more ILV to the pool, but the system forced you to claim your rewards first, is that it?

[unique bear]

So I've staked both in the ILV pool and SLP pool multiple times. Each time you do it, you have to claim the rewards, so sometimes these amounts are quite small as there's not a lot of time between staking.
Question is whether we Think there will be a way to batch claim groups of unlocked rewards after their 12 month Vesting to avoid gas for each of the small rewards vested.

[half verge]

I had locked staked 30ILV for 4 weeks ending today, so today I wanted to withdraw my staked ILV. I got a popup stating I need to claim all my rewards first. So I went back to the rewardsscreen and paid 90USD to claim, went back to vestingpage to widraw my ILV and got the same popup that I need to claim my rewards again. Now I see there is still 0.00017ILV there to claim, but the claim button is off. I went back to the vestingpage and at the popup when I choose claim ILV I need to pay 120USD again to claim ... I have 150USD on metamask but I can not approve... common this is driving me nuts😩 .. I can't withdraw my ILV, its costing me alot of money and I don't know what is going on?? Can someone please explain to me how I can withdraw my ILV?

[arctic plover]

Ha Ok! I understood now! Good question, sadly, I don't have the answer. Maybe someone more aware could help you! I guess, the easier thing will be to wait the last rewards to finish his vesting period to avoid gas fee...

[minor thicket]

so if i invested 5 ILV locked 12 months with a pool weight of 2, i could remove 10 ILV after the first year and remainder of rewards will take another 12 months before being accessible>

[unique bear]

Yeah hopefully you're able to batch claim a bunch of them and have one single gas fee, but what makes me nervous is that each of these are on a separate contracy on the blockchain, so I'm not sure how it will be possible.

[arctic plover]

No, it doesn't work like that! If you want to withdram your initial investment after 12 months, you'll get back your 5 ILV. The x2 weight means that, if you stay "staked", you'll get back Revenue distribution as you had x2 ILV staked ! So you get x2 revenue distribution, which is great! But if you want to take back your initial ILV, you'll only get back 5 ILV (from what I understood). 🙂

[arctic plover]

I'm not in the SLP pool, but I read something about that. I'm gonna check!

[arctic plover]

I don't know what's going on, sorry... Hope someone will be able to give guidance! 🙂

[unique bear]

It definitely claims all your ILV rewards and vests them when you stake more SLP or you claim SLP rewards, but not sure what happens at the back end after the Vesting period is up and you wanna pull the rewards out and send to your wallet

[arctic plover]

Here is something that could help you : "Critical note on claiming: If you have funds in both the ILV pool and the SLP pool, click claim only on the SLP! Not only does that pool essentially always have more rewards, as part of the transaction, your rewards in the ILV pool will automatically be claimed. This has been set by the team as a means of minimizing gas fees. Even if you only staked in the SLP, after the first time you claim your rewards, you will now have value both in the ILV and SLP pools since SLP rewards are directly placed in the ILV pool as they vest." Source : https://www.publish0x.com/ilvfi/staking-illuvium-ilv-part-2-what-are-the-rewards-xgljgle

[manic spindle]

You need to claim rewards WITHIN the withdraw transaction. Going back to rewards and claiming there means you will get a tiny amount of rewards piled up again when trying to withdraw once more. Just like when depositing a new stake, the forced claiming of rewards happens within that staking/withdraw transaction, NOT done manually via rewards tab.

[half verge]

Ah meeeen.. so paid that gas for nothing😫

[unique bear]

Yeah I've seen that bit, and that's all true for the front end when you claim SLP rewards, but I'm talking about the back end after those individual reward packages that are vested are ready to claim and whether you can grab them all in one hit! Hopefully. Maybe @manic spindle will know? Sorry Stormi, you might have to trawl through a few messages above to get some context

[manic spindle]

Right now, all your vested stakes would have to be withdrawn one by one when unlocked. No way around that. It has been brought up already that a "bundle option" would be great and the team will for sure investigate the possibility (if not already doing so) but there is no guarantee for that at this point in time.

[neon isle]

I saw that arbitrum just launched a couple days ago. Can we use it for staking to save on gas?

[unique bear]

OK thanks for the clarification. So there's a bit of a penalty for staking regularly as well potentially in that case. Fingers crossed wither gas is negligible or there is a batch claim option at the end of the Vesting period 🤞

[manic spindle]

Aaron mentioned a proposal coming soon that could help a bit with these issues even if it isn't going as far as using arbitrum:
#809220563397902346 message

[young wave]

This staking is very confusing (at least based on the above thread). I have watched the official video on how to stake INTO the pools. But it there an official video on how to get your ILV with interests out?

[cyan rampart]

When a stake ends, you click unstake. This also applies to rewards, when they finish vesting, you click unstake.

There's a lot of complexity to the intricacies of staking and potential future upgrades, but the core of the system is pretty simple. Stake your ILV, claim rewards, unstake claims/rewards when they become unlocked. (If you stake flexible, they are immediately available to unstake)

[young wave]

Right okay and thank you. And the vesting period needs to match the locked period, right? So I locked mine for six months. I still won’t be able to use anything until after the vesting period? Right?

[cyan rampart]

Only rewards go through vesting, which you can just treat as a 12 month stake that starts when you claim, and applies only to the rewards you're claiming.

Your locked period isn't affected by claims at all, so a 6 month locked stake is available for you to unstake 6 months after you stake it.
But any rewards from that stake will vest for 12 months.

[young wave]

Okay. And thanks for clarifying that. I am okay with what I have done. And I appreciate the clarification.

[craggy field]

Any rewards dont include sILV though right? ILV -> 12 month vesting, sILV -> game currency only.

[young wave]

You mean if you locked for 12 months, right? On the SLP

[craggy field]

No you can claim your rewards as ILV or as sILV i thought. sILV would be the secondaey game currency but it wont need a vesting period.

[young wave]

This kind of makes sense. We would vest ILV rewards but be able to use sILV right away after the lock period.

[young wave]

Definitely smart business! Pretty brilliant actually as it will get people playing the game.

[craggy field]

I just wanted to point that out, else you would think you were forced to vest your rewards another 12 months. The sILV would be your instant way out (but you would somehow have to sell your sILV for ethereum then)

[cyan rampart]

Yeah, it's correct that you could claim rewards as sILV and skip vesting! AFAIK sILV has been selling for something like 50% of ILV price on secondary markets. I personally prefer to claim as ILV and gain the benefits of staking, governance and revenue dis, but to each their own!

[young wave]

I agree that it’s a better play as an investor to simply go through the vesting period. But it does change the thinking process once it is understood. For me, I like to get my initial investment back, and ride profits long term. This method allows me to do that. It’s unfortunate though that I didn’t understand this before, as I would have not DCA’d but put more in. Now I am effectively locked out of adding more to ILV.

[cyan rampart]

Yeah, gas prices are prohibitive, but you can absolutely start new stakes whenever you want. I think I currently have 5 different stakes active.

[young wave]

So each SLP stake is treated as a different UNIT?

[cyan rampart]

Yeah, each stake you put in is seperate - all your rewards accumulate together though.

[young wave]

Okay. That isn’t clear to me from the UI. But thanks. This definitely helps

[cyan rampart]

You could start a 12 mo stake, a 6 mo stake and a 3 mo stake at the same time (or at different times), and all your rewards would accumulate together for claiming purposes.

[young wave]

You just opened a can of worms. So taking your example of 3,6,12. When I do the transaction for 3 months, will it start the vesting for the rewards on 6,12 at the same time?

[young wave]

(With the single ETH Gas Fee)

[cyan rampart]

Rewards always take 12 months to vest, and that vesting starts when you claim.
Unless claimed as sILV, as mentioned.

[young wave]

So regardless of the locked period, all rewards are vested for 12 months

[young wave]

Thank you @cyan rampart 😊

[viscid ferry]

Holy cow~ Claiming rewards at the lowest gas fee point of the week.. still costing me $100.. 😂

[cunning perch]

117 to be exact 🙂

[viscid ferry]

I got the 2x transactions through with 64 gwei..

[cunning perch]

I wanted to claim too, then saw the gas, closed MM, closed Chrome and opened a movie to watch lol

[viscid ferry]

😂 😂 😂

[cyan rampart]

I'm considering NOT staking SLP because of this lol... I'm right on the threshold of it not being worth it to pay double gas... maybe I'm a sad core pool boi forever.

[cunning perch]

whatever taking part you pull off regarding ILV will be worth it imo. SLP or ILV pool won't matter. For now, if I claim, I won't be able to claim for 2 months haha. It's +$100...still not worth it. lol

[marble heath]

hi! i'm trying to buy ilv from sushi swap and i was told that i could adjust the max fee(gwei) in metamask to kind of force my transaction to just go through at my desired gas fee.

is this okay to do if the gasnow.org website reaches 56 right now and is this the proper way to do this

is there a chance i could lose my money or is this okay?

!fees

[cyan rampart]

If you set your max fee (GWEI) to a level too low, your transaction will never get processed. 50 is VERY low, I think mid-60's is safe for now.

[knotty river]

Fast: 69 Standard: 68 Slow: 68
Simple ETH TX: $5.49 (0.0014 Ξ)
Token Approval (ERC20): $13.71 (0.0035 Ξ)
Token Transfer (ERC20): $12.93 (0.0033 Ξ)
Uniswap Trades: $32.52 - $54.08 (0.0083 Ξ - 0.0138 Ξ)

[cyan rampart]

You don't lose your gas that way, you just never get processed. Avoid adjusting the gas limit - that's how people typically lose their ETH.

[cunning perch]

Gas (compered to weeks ago) is lower now. +60 might be a good choice. you can try and see how much it'll cost you before confirming on MM

[marble heath]

oh i see 😄 so im doing this right but i just need to change the 50 to something like 60 to 65?

[cyan rampart]

I'll usually use the lowest actual price that's been seen in the last few hours, but you might have to bump it up if gas increases - keep in mind it was almost 100 for most of hte past week.

[cunning perch]

kinda like that. before doing so, I'd check to see how much it would cost now as gas is at 68 at the moment. Maybe it wouldn't be a bad idea to buy now even

[marble heath]

how do you check for this?

[cyan rampart]

Etherscan's Gas Tracker
https://etherscan.io/gastracker#historicaldata

[marble heath]

thank you very much 🥺

[arctic plover]

You can set 60 and let it go ! If it takes too long, you'll be able to put more gas if necessary ! 🙂

[hot lynx]

Hey guys how r we doing 👍🏻

[cunning perch]

perfect. gas seems meeeeh, but worth claiming...which I just did

[hot lynx]

Awesome I have some good news . Just did an claim on the SP for 110 all up 🚀

[normal blaze]

I just did too $110 dollars 😞 but hey u gota claim to keep up that compound affect

[ember basalt]

now I regret claiming earlier @90 gwei... I thought it would never go down

[normal blaze]

Good news ?? Lol

[hot lynx]

Same same 👍🏻👍🏻🚀🚀

[cunning perch]

yeah. I know. But gotta adjust to hard times. It'll be worth it long term

[mystic thorn]

!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

[cunning perch]

please use commands in #👑〕bot-commands

[normal blaze]

Yea in the long run when we say I claimed 10k for 100$ won’t seem so bad loll

[cunning perch]

yeah. besides, you'll get it back through rev. so it's not a lost $

[normal blaze]

Just don’t like loosing my precious eth lol, I know how much u bought ur ilv for so I’m sure ur claims r pretty juicy lol . I’m just claiming every two weeks now at least jos time like u suggested , thanks 🙂

[cunning perch]

I hadn't claimed since Aug 1st, So...relative to my stake it was OK, so claim now. I can't claim every two weeks with these prices myself

[glossy dirge]

i fckin hate claiming rewards. it's so dumb that i have to pay 2 tx

[cunning perch]

you stake SLP, so you've already accepted the 2 tx and get more rewards for it. so it's not dumb. besides, claiming is smart since it compounds

[normal blaze]

Wow that’s 5 weeks ! Must of been a goodie 🙂 we could still 10x from here to match axie so looking good for us

[open steeple]

for 10k invest on the slp pool you guys think claiming between 1 to 2 ILV is ok?

[glossy dirge]

i got fucked. i have $200 i thought it was enough but after paying $90 i still need to pay more. now I just claimed a measly 0.22 ilv from the ilv pool. F

[lilac coyote]

I think most should claim every 4 weeks or so. This gives +- week to find a good gas time

[cunning perch]

goody lol. Nah it was OK not that much. still it was worth paying the gas for. But yeah. llet's see how high it goes

[cunning perch]

that's why you have to plan even your claims

[cunning perch]

i do round numbers. Don't like to see my stake at not so round numbers tbh 😄

[normal blaze]

If ur claiming 2 ilv for 70-100$ fee for me I think it’s pretty good

[glossy dirge]

i know. its stupid imo. anyway, i will just wait to get more eth to claim

[lilac coyote]

SLP is an expensive investment.. the fees are huge.. but the pay off is worth it if bullish on project. Just need to manage the fees to minimize as much as possible

[arctic plover]

Yeah it depends ! Because with 4 ILV staked, it's not worth claming at all before the end of the 52 weeks 😂

[echo steppe]

You can claim your SLP Pool and nonce the transaction for ILV pool if you set your fees low

[cunning perch]

most do claim when gas is 1% of their portfolio in terms of $

[lilac coyote]

Yeah there are different ways of calculating it. Nothing is perfect because of the unknown variables like future ETH price, future ILV price, and APY in solo pool changes

Probably base case is claim amount being 20x the gas fee. Although I wait longer.

I’m stingy with spending ETH because I’m also an ETH bull.

[echo steppe]

Just Nonce the ILV transaction. Then you only pay the one fee

[normal blaze]

And what I just said is 10% right?

[cunning perch]

probably haha 😄

[arctic plover]

Yeah! Using the Deraji's calculator can be useful ! There is a lot of scenarios of claiming (weekly, biweekly, monthly, etc), can help deciding what's best! 🙂

[lilac coyote]

My claim interval/stack also gives me a decent solo ILV claim so I just take both

[lilac coyote]

The 80% solo APY probably not enough for a weekly claim unless for whales

[normal blaze]

Well that’s 10% from price of 2 ilv, but definitely not 10% of my ilv portfolio, which one did u mean?

[arctic plover]

For me, as a small staker (4.15 ILV), its not worth claiming before the end of the 52 weeks apparently ! But it depends really on the side of your stake, yeah... 😅

[echo steppe]

I'm just stacking the ILV rewards and just claiming the SLP. ILV % to low for me.

[lilac coyote]

Interesting strategy of canceling the solo claim. Probably too advanced for most people to pull off successfully, me included

[cunning perch]

My statement was general. ppl claiming when gas is 1% of their portfolio

[open steeple]

How do you do that? You claim the ilv in the slp pool and reject the second transfer?

[echo steppe]

The first transaction to come through SHOULD be claiming from the ILV Pool. Set the fees low so it wont go through. Pay the correct fees on the socond transaction. Then nonce the first one and the second should go through.

[normal blaze]

Ok yes that makes me feel better then 🙂👍

[dapper basin]

Is it worth staking 1 ilv?

[open steeple]

that seems smart, i made a couple of stakes and now i have some rewards vesting of 0.00042 and 0.0017 ILV witch will never get claimed

[manic spindle]

Locked for a year for 2.0 token weight and at a time of a bit lower gas fees, maybe. Personally - especially considering gas fees the last 1-2 weeks - I'd try to get a little bit more than 1 ILV to stake though 🙂

[open steeple]

@manic spindle can you confirm if this is possible to do?

[dapper basin]

Ah

[manic spindle]

I cannot, sorry. I haven't tried it, so I don't know how the contracts are set up and what happens with the second claim transaction in that case. @hexed bough might be able to help out with that question.

[primal zodiac]

I'm a little confused on staking eth/ilv. I just pressed stake and it charged me $17 approval fee, but i dont seem to have to slp tokens yet, do i have to do another trnasaction first?

[echo steppe]

I just figured this out last night. Looks like it went through okay but something could have gone wrong back end.

[manic spindle]

Sounds like you approved the contract and should be able to stake now with a second transaction.

[open steeple]

to scared something go wrong to try this myself 🙂

[final steppe]

If this is your first time doing transactions with this token, there is an approval transaction first and THEN a staking transaction next

[hot lynx]

Seems my stake is still not released

Did both

[normal blaze]

Is the first transaction still trying to process thought with the low gas that u put in??

[echo steppe]

Yeah I did freak out a little* and the time. (at the time*)

[hot lynx]

After you got the two gas transactions completed .. did it take some time to release the claim ?

Mine is still showing as staked .. afterwards ?

[echo steppe]

No that was a typo sorry. If the transactions are confirmed it should go through ina few seconds

[normal blaze]

I thought he said only one got approved?

First claim is ilv pool second claim is slp pool right, so u put low fee on first claim and then normal fee on second? U claimed slp(ilv) but what happened to first transaction? Is it still processing??

[echo steppe]

No you nonce it

[normal blaze]

What’s that ?

[hot lynx]

Ye I have 2 confirmations in my ETH wallet . However the pending rewards are still . Pending ?

[echo steppe]

each transaction you put through has a nonce. (Number in line) you put through a low cost transaction with the same nonce and it goes through in its place and removes the original

[hot lynx]

Understand I have learned that trick also

[gusty magnet]

hey guys, hope you're all doing fine

saw some comments about staking 2.0, do we know how it's gonna be?

[echo steppe]

@hot lynx I would read up on it before trying it. Dont listen to some random on the internet haha

[normal blaze]

Ok makes sense now, hope it doesn’t have screwed up long term affect

[echo steppe]

I would read up on it before trying it. Dont listen to some random on the internet haha

[normal blaze]

Probably won’t try it to be honest i like claiming all for compound affect but I appreciate the info 🙂 thanks

[echo steppe]

Like I said earlier something could have gone wrong back end.

[supple owl]

anyone having problem claming ilv from the lp? just claimed and it only clamin the one in ilv

[normal blaze]

Be sure to let me know if u have long term affect 🙂 look at you finding loop holes in the crypto world, writing history 😁👍

[vital kayak]

Nope just claimed 2.6 sILV

[normal blaze]

Few of us claimed in last hour all went well

[vital kayak]

We did this hell yesterday. It can take like half hour to switch and clear

[echo steppe]

How did you go with you issues last night?