🥩〕staking

[vital kayak]

We now have 9 ILV staked at ATH and no regrets lol 🔮 well avg $500/ILV

[normal blaze]

Hahaha if there’s a will there’s a way!

[echo steppe]

Nice,

[supple owl]

thanks, will try again later

[vital kayak]

Finally worked , I tagged you and Sheep @steep slate yesterday thanking both y’all. Sheep DM me and was amazing helpful and patient

[steep slate]

??? me

[vital kayak]

Yeah $2,000 in sILV in 16 days is no joke 💪🏻🤑

[steep slate]

what's up

[gusty magnet]

guys, are you mostly claiming silv instead of ilv for te land purchase??

[vital kayak]

😘 you know you helped tremendously 💗💗💗

[steep slate]

maybe you mistake

[echo steppe]

Haha Lockdown means I turn into an IT guy haha

[vital kayak]

Absolutely! Idc if I get a tier 1 as long as I get something. 100,000 Splinterlands lots are gone and rocketing

[steep slate]

i dont remmeber anything

[primal zodiac]

any guesses on how much T1 costs?

[normal blaze]

I claim ilv only, it’s my retirement plan 🙂

[echo steppe]

I go 50 50

[gusty magnet]

yeah, i'm claiming ILV also cause SILV don't add up to the pool

[primal zodiac]

I think claiming ilv and just buying silv separate works better

[hot lynx]

Perhaps silv has no issues as it's auto released vs ilv is up for another 12 months ... 👀

[vital kayak]

Oh I’m sorry! What are the odds TWO ACCOUNTS are called SHEEP in same server lol 😜

[echo steppe]

I'm hoping to get a bit of land to flip later

[steep slate]

hahaa it's okie,

[hot lynx]

What sort of Ilv do you think is needed ?

[gusty magnet]

is there any way to guarantee a spot in the land sale? or it's gonna be wild west?

[normal blaze]

I’m in for 10 years don’t worry me 🙂

[echo steppe]

No idea yet

[hot lynx]

Different picture 😂

[vital kayak]

Mine too but there’s only 3 million sILV and it’s cheaper to claim than buying ETH to play. As soon as land is done THEN we’ll claim ILV thereafter

[echo steppe]

Illuvium is just the first project so long term HODL is a good plan

[hot lynx]

10 years ... I am in for 9

[vital kayak]

Dutch auction

[normal blaze]

Lol

[echo steppe]

I'm not even sure how limited land is

[vital kayak]

They BOTH LIZARDS with SHEEP as the name, I’m half asleep gimme a break 🙋🏼‍♀️

[mystic thorn]

There is gonna be 100,000 plots of land

[normal blaze]

Everyone has different plan , I would rather buy eth for land hold Ilv forever

[vital kayak]

100,000 to be released slowly over time

[primal zodiac]

I wonder when the best time to buy will be

[echo steppe]

I was reading the GDD last night for Illuvium Zero and couldnt see anything

[vital kayak]

It’s been in interviews with cofounders

[mystic thorn]

Could you move this talk to #🎮〕illuvium-zero

[vital kayak]

It’s cool good nite y’all

[echo steppe]

Sorry we got off topic. Promise this started with staking

[gleaming brook]

What is the difference between Core Pool and Flash pool?

[echo steppe]

Flash is short term non eth or sushi LP pools

[mystic thorn]

Core pool is made with ilv tokens where the flash pools are where you stake other coins and get ilv

[gleaming brook]

Got it. Thank you @echo steppe @mystic thorn

[manic spindle]

Core Pools are pools that require ILV to be staked and they last the full three years of yield farming. Flash pools are 14 days limited pools that only get 2% of the total yield paid out in that time. These are meant to let other communities stake their "foreign tokens" and thus provides means to attract new people to ILV and/or reward future/prior partnerships 🙂

[gleaming brook]

Thank you. Getting ready to stake. Excited and nervous at the same time… trying to figure out ILV or Sushi LP 😀

[manic spindle]

Check the pinned messages in here as well. Some of them are related to the question of "what pool to choose" 🙂

[gleaming brook]

Ok will do 👍

[teal crypt]

Hey guys, quick question. If I stake my LP tokens for 550%, is the yield percentage based on the initial total Dollar value in the pool I added?

[hot lynx]

Get excited to claim 🤣

[wanton nova]

AFAIK yes but keep in mind that Apy is dynamic and changes over time. Every two weeks the amount of ilv distributed as rewards drops by 3%

[manic cargo]

guys

if i stake my ILV locked for 12 weeks will I be able to get it to my wallet after the 12 weeks?

[mystic thorn]

Yes if you want to

[manic cargo]

instantly? and which is the one that I have to wait like 12 months after claiming it to recive it?

[lunar marlin]

Is land going to be bought with ETH or ILV?

[craggy field]

Eth or sILV

[craggy field]

The rewards you obtain once a while can be claimed with a gas fee ofc. Those rewards will either be in ILV or sILV. The ILV that is claimed will be locked for another 12 months but will give you revdis.
If you claim the rewards as sILV it will instantly be available to you.
Your initial investment will also be available after your locked period is over.

[manic cargo]

revdis?

[cunning perch]

!revdis

[woven ibex]

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

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

[dry bay]

When I unstake from the ILV pool, can I unstake just a portion or I have to unstake the entire amount? I would like to unstake some from the ILV pool and stake in the ILV/ETH pool.

[manic spindle]

You always unstake one full batch. Under "Vesting" you can see all your individual stakes from either depositing or claiming ILV as rewards. Those stakes can be withdrawn individually 🙂

[dry bay]

@manic spindle Ok so I would need to restake in both pools after unstaking my original one batch. Once staked, can one move staked ILV or ILV/ETH from one wallet to another? Or need to unstake to do that?

[brisk surge]

Once you stake it, it is no longer in your wallet so you would have to unstake to move it somewhere else

[dry bay]

Ok thank you to both @manic spindle and @brisk surge. I am going wait for lower gas fees!

[brisk surge]

Yeah good idea I found the best time is around 1-4 est time. A little late for me but I managed to snag 40 bucks on gas fees

[ripe steppe]

Best deal in a long while

[granite halo]

Jeez. SLP pool going down 100%/2 weeks. At this rate there isn't even gonna be enough to cover imp loss/gas.

[brisk surge]

Yeah I ended up only getting the swap to ILV and when I went to stake it, it was back up over 150

[lunar marlin]

If I stake in flexible savings, either core or slp, can I unstake it all as sILV if I wish?

[brisk surge]

You can claim your rewards as silv

[digital leaf]

What do you mean, where did you get this info?

[lunar marlin]

And by claiming rewards as sILV, does it go back to my wallet or it stays locked in the 12months vesting?

[granite halo]

It was 650% less than 2 weeks ago, 585% a few days ago and now down to 555.

[digital leaf]

Oh ok thought you were saying that was going to drop by 100% in 2 weeks time

[brisk surge]

Claiming silv you get it immediately

[iron glen]

I suppose in the long run the SLP pool rates might end up beating the ILV pool rates only by a small margin

[granite halo]

It has been dropping by that in 2 weeks time. Not sure what will come next week. Could be more, could be less. Guess we will have a better guess after the land sale, but that won't affect SLP pool I would imagine.

[digital leaf]

Yes seems very unpredictable. Has anyone worked out roughly what kind of return you can expect from staking over the three years? It seems like its almost impossible to work out with so many factors.

[iron glen]

anyway once game releases and the revenue stream starts coming in, both rates might actually rise who knows

[lunar marlin]

And do I get to choose everytime I claim rewards if I want sILV or ILV or is it pre-estabilished?

[clear cape]

choose

[marble heath]

is it normal for gas fees to be this high????

[livid light]

at this time yes

[arctic plover]

Yes, happend quite often during the previous week as you can see on this table

[livid light]

and it's a holiday in the US a lot more people online/home

[brisk surge]

Yeah gas prices tend to drop a little lower somewhere around 1-8 est

[marble heath]

damn, makes me wonder how much people are trading for them to pay that much gas fee

[clear cape]

in the thousands/tens of thousands

[vague sierra]

I tried multiple times today to claim when gas was low but somehow it didnt go through completly, both the accounts i tried it on only claimed the core ILV pool and not the shushi pool does amyone have this issue? Im kinda angry cause it was expensive and only 1/2 pools got claimed

[livid light]

with the NFT market exploding the gas fees are crazy high

Waiting for Eth 2.0 lol

[brisk surge]

Yeah they are quite insane at the moment

[mystic thorn]

i mean who wouldnt wanna play games and make money

[marble heath]

plus the games are also fun and enjoyable even if you weren't making money

[ember basalt]

well not all of them are fun 😋

[brisk surge]

Haha yeah some are so boring

[manic cargo]

Guys Im trying to stake my ILV but I have to pay like 300$ of a fee transaction, can someone tell me which config of the transaction should I use ?

[mystic thorn]

You should just wait for the gas fee to go down

[manic cargo]

which is a normal gas fee usually?

[brisk surge]

That’s pretty normal if you want to get one lower you should wait till somewhere between 2-4 in the morning

[mystic thorn]

Normal nowadays is Gonna be 150$ per transaction

[livid light]

I usually just set it lower and let it ride even if its takes a few hours

[manic cargo]

but my question is which is normally the best config?

?

[wintry elm]

Question.. How do I change my stake from non-vested to locked Not sure how to end the contract that flexible.

[mystic thorn]

You should just be able to go to staking and take it out

[wintry elm]

I don't see it popuylate. just states the amount i have

[digital leaf]

Has image sharing been disabled in this server?

[mystic thorn]

Hmm that’s odd

[arctic plover]

Yesterday, I used this config : I set the max fee at "60" and Max priority fee at 2 or 3, don't remember. I waited like one hour for the transaction to be complete.... But on saturday morning, the fee were around 70 🙂

[wintry elm]

Very! I know that if I vested Locked it would have shown up but since it's flexible, I can't find it. So Odd

[mystic thorn]

Ya I only really know about locked I don’t really look at flexible

[wintry elm]

Thanks for trying, Maybe admin will help..

[mystic thorn]

I bet @median canyon would be happy to help 😉

[final steppe]

Whether you're staked with the flexible option or a locked period, you should still be able to view your balances in the "Vesting" tab.
Anything locked will show locked next to it but a Flexible stake should have a "Withdraw" button next to it 🙂

[mystic thorn]

Here is your answer😎

[echo marten]

If i want to stake more in the ILV pool do i need to claim my current rewards?

[cunning perch]

Staking new ILV in the ILV pool will automatically claim the unclaimed rewards

[echo marten]

thank you!

[frozen sable]

So lets say I stake for 12 month contract. There's also going to be a vesting period after the 12 months right?

[craggy field]

Only for your revenue, not your initial investment, and if you claim your reward in ILV. SILV has no vesting period.

[frozen sable]

Has anyone in here suffered from impermanent loss or know someone who has with illuvium sushi pool?

im trying to figure out how common it is to take place. Noboy will asnwer that for me lol

I get its personal preference. But people actually have never done it before and dont even know what it looks like. Can someone just tell me what tf they would do

like is their a golden rule to not do yeild farming for certain time frame

[brisk surge]

For some reason if I try to collect staking rewards on Illuvium site the gas fee is 140$

[cunning perch]

Gas is 111 gwei now, so yea, you might have to pay is your wanna claim

[brisk surge]

111 is low

[wintry elm]

It would seem so, but doesn't for me.. and when I tried to swap, the token is locked..

[cunning perch]

What do you mean when you try to swap it's locked?

[wintry elm]

cant share screen shot

[cunning perch]

It varies.

[wintry elm]

I mean that there is a lock icon, if I select it on Uniswap

[cunning perch]

Explain to me what the problem is, maybe I can help. Besides, ILV is on SushiSwap not Uniswap

[wintry elm]

How do I change my stake from non-vested to locked Not sure how to end the contract that flexible.

[cunning perch]

So you have staked your tokens in the flexible pool? And now want to move it to core pools and lock it?

[wintry elm]

yes

[cunning perch]

Since it is staked in the flexible pool, as Remine3nt said, you have to check the vesting section and withdraw them (pay gas) and then re-stake them in the core pool (again pay gas) and lock however long you wish. You should see the “withdraw” button in the Vesting section of the website. This is the procedure.

[wintry elm]

I see what youre saying but i dont see it. I would share screen shot but cant. Let me try to clear cookies/cache again..

[exotic igloo]

You should see your deposit in the vesting page

Try to filter with deposit

Make sure your wallet is on eth mainnet

[vague sierra]

i can give you the exp i had with shushipool, ITS AWESOME the way i see it i wouldnt care even if my initial investment went to 0 becuase it only takes like 2 months to double the initial ILV tokens anyway 🙂

[wintry elm]

my vesting page says I don't have anything vested. Can it just be coming in slow since its only been 4 days

[manic spindle]

Vesting should show your stakes almost immediately. Both from depositing or claiming.

Are you sure you have the right wallet connected?

[wintry elm]

Still says nothing vested, even though my metamask had is go through

[mystic thorn]

MetaMask is weird right now

[cunning perch]

This is a bit weird. Wish you could send some screen shots or sth.

[wintry elm]

hmm where can i send screen shots?

[cunning perch]

No it's not. I check it almost everyday 20 times. Haven't seen anything weird

[manic spindle]

You can send it to me via DM

[mystic thorn]

No like through vesting

[cunning perch]

Also that. Haven't seen any problems regarding MM myself

[exotic igloo]

The transaction that went through might only be the approving one

Do you still have your ILV in your wallet?

[wintry elm]

yes.

[manic spindle]

In that case, as Rah said earlier, you might only have approved the contract and now would need to actually stake your deposit.

[wintry elm]

ill DM you

[exotic igloo]

You can go ahead and stake and lock.

[proven ingot]

lol hope you don't partner with phoneum and their phtg token 🤣 that would bring too many players into the game

and wait do flash pools pay in ILV tokens?

[manic spindle]

!staking @wintry elm

[woven ibex]

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

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

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

[manic spindle]

!claim @wintry elm

[woven ibex]

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

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

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

[wintry elm]

Thank you @manic spindle for all of your help and explanation! 💯

[real nebula]

im here for my daily complaint about gas prices

[young breach]

me too... paid around $60 in fees...

[tidal ridge]

i mean

why is my fee 300 lmao

im only trying to stake a 120$ worth in the ilv pool and it wants me to pay 300 for fees in eth

anyone got any idea why or is that just the fee atm

[wind walrus]

gwei is over 170, wait till it drops to about 50. Staking only 120 worth might not be worth it

[tidal ridge]

i got the ilv eitherway so should i just wait then or sth?

[final steppe]

Yeah that's just the gas fees at the moment. The gas fee will be dependent on the traffic on the Ethereum network. You could be staking $120 or $12000 and it's going to be the same fee. So I suggest waiting until gas fees are lower

But they have been pretty high today... and normally I suggest waiting until the weekend (and it's Sunday here) so... now it's a bit harder to gauge 😅

[wind walrus]

Do you plan on buying more ILV soon?

[tidal ridge]

maybe in a month or so

also which pool is better tho if i just wanna stack up on silv to get a head start so to speak in game

or what is everyones plan atm ?

[wind walrus]

Probably best to hold for now. If gas drops to 20-40 you might have a shot. If not just wait until you have more. The ILV Core is your best option.

[tidal ridge]

what about sushi lp tho i got a 50/50 split of my money on ilv pool and the sushi lp one or is that not a good idea

[wind walrus]

For Sushi pool it's best to invest larger amounts because of the claiming fees. I would suggest $2400 or more into SLP. ILV Core is cheaper to stake and to claim.

[tidal ridge]

so i kinda fucked up by putting in a few hundread

[mystic thorn]

I mean it’s not terrible Terrible

[tidal ridge]

ok it was a scam i did a bad thing to test it out i put in 30 so i assume im never getting anything from it right

[mystic thorn]

Well most likely not because of the fees

[tidal ridge]

can i add more to the amount?

[dim wagon]

Damn if gas wasn't so high I would contemplate locking my shit in the ilv/eth pool as I staked unlocked bc it was definitely more money than I was willing to lose but after longing sol at like 65 that has now changed lol

[dim wagon]

Yeah you can add more but I would recommend doing 1 lump sum with gas so damn high

[tidal ridge]

i see so atm if i have just small amount of ILV i should just hodl untill game release?

[sharp rover]

it just cost me $220 in fees to claim both pools if that helps you at all

[dim wagon]

Damn it's only $200 right now might have to do that cause I was not about to pay $500 lol

[sharp rover]

I saved up 15 ILV so to me its worth paying that long term

[wind walrus]

Only issue is that you can't use ilv to play the game. Only ETH and silv will be used

[tidal ridge]

so what should i do with my piss poor amount of ILV?

[sharp rover]

hold, gas will eat you alive

[dim wagon]

Probably just hodl

[tidal ridge]

and hope gas lowers so i can stake?

[sharp rover]

It might be worth if you do ILV/ETH pool

[wind walrus]

Probably hold for now and try to add more later.

[tidal ridge]

how much would you really need though just to start?

[wind walrus]

Bad advice, he only has about $120 worth

[wind walrus]

To start staking I would say one token and catch gas fees while they are low

[tidal ridge]

I got big holdings from mining for 5 years now but i dont really get it so i should stake lets say around 10k worth claim the rewards in SILV so a few thousand and what do i do with my 10k worth of ILV

after i decide i dont wanna stake how do i get more SILV to use in the game or do i just exchange my 10k into eth and use it like that?

[honest wraith]

You can use it for all the fees in game

[wind walrus]

Have you read the whitepaper or read/watched the info pinned in this channel?

[honest wraith]

The 10k would be revealed into the Illuvium pool for a year once you collect it so it would be compounding

[tidal ridge]

i would say yes but my brain cant understand most of it lmao

[tidal ridge]

so once i claim the rewards SILV my 10k gets locked for a year?

[honest wraith]

No, not the SILV just regular ILV

[wind walrus]

lol, there are a couple good videos on staking. Try watching a couple of those. If you still need help feel free to ask more questions.

[tidal ridge]

So doesnt it make more sense though to just play using ETH ? If your ILV gets locked for a year you never know the game might not exist in a year and its worth nothing no?

[hot lynx]

Sounds like you are a flex staker

Go flex it will make you happy 😃

[wind walrus]

Yes, if you don't believe in the project and your risk tolerance is low.

[honest wraith]

By staking your ILV you get the Revinue Distrobution once people are able to start playing and paying in game and you start collectiong MORE ILV by just having it staked

[tidal ridge]

@honest wraith might have confused me ok scenario: I put in 10k for a flexed period to stake i claim SIVL(worth of 2000) i know i can use the SILV instantly. So after I claim can i go ahead and exchange MY 10k back to eth or whatever i wanna do with it ? Or is it locked

[honest wraith]

If you choose to do flexed yes you can remove it. You only get the minimal amount of APY through doing flexed tho

[tidal ridge]

Ok yeah so im not a complete retard i just got confused when u said my ILV was locked i know the rewards are but i thought u meant my staked ILV xd

[honest wraith]

And at the rate ILV is going now, if you were to pull it out youd most likely get more than your 10k back, becuase ILV has risen over $200 since I invested 1 month ago

[wind walrus]

If you staked flex for say 8 weeks. after 8 weeks your ilv will unlock. If you claim all rewards in silv then you have unlocked silv and can convert your ilv back to eth if you choose

[honest wraith]

Yeah thats my bad, I may have misread your initial comment about it haha apoligies

[tidal ridge]

So the last question if i have 10k i should do the SUSHILP ? and if i have around 1k i should do normal one?

[wind walrus]

Do you know much about adding liquidity and impermanent loss?

[honest wraith]

Do you want to stay liquid and only do flex?

[tidal ridge]

I watched the video on binance cant say my brain got it thats why i pussied in 20 bucks cuz the gas was low just to see what it was

ok put it this way with my monkey brain normal pool is better and safer right?

[honest wraith]

for monkey yes haha, safer for sure, better is another thing

[wind walrus]

Yes, risk is much lower and fees are less

[tidal ridge]

the normal pool it is then

So the 120 i have in the normal pool atm i will have to pay fee to claim rewards then i can put in the 10k?

[honest wraith]

correct, when you go to stake your 10K it will make you claim your rewards

[tidal ridge]

After i claim my SILV should i keep some ILV lets say around a few hundred just for fees in game?Or can i just exchange my 10k to ETH and pay the fees with it in game too?

[honest wraith]

You can use your SILV for in game fees, ILV it doesn't do anything for you while just holding it since it is just a governance token

[tidal ridge]

ah so ILV is pretty much just a way to get SILV which is used for everything game releated.

[honest wraith]

Yes, and by staking your ILV is what gets you Rev Dis for all transactions in game invlolving ETH

[tidal ridge]

Ok another basic thing is what good does it do for companies to enable staking its sth i never understood cause we get rewards from it what do they get

[wind walrus]

Sorta, ETH is the main currency and will be used for everything in game. Silv is used for most in game stuff and land sale

[honest wraith]

I'm not sure exactly how they benefit, but they must gain something from it. Maybe it helps maintain the value of the token

[tidal ridge]

thats the only idea i could think off it makes sure we dont sell or sth

[wind walrus]

Staking the tokens helps lower volatility with the token. Also forces reduced available supply which in turn can cause a price increase

[tidal ridge]

OK Boys i wont lie thanks for explaining a dumb dumb like me how this works time to go check my hard wallet and look for lower gas fees

[wind walrus]

NP, welcome to the family.

[tidal ridge]

Time to use the good old mining money for something

[honest wraith]

Glad we can help!

[wind walrus]

If you really wanna have your mind twisted you can learn about Revenue Distribution.

[tidal ridge]

It just every transaction in game earns us money based on the total % we participate in the pool right?

[wind walrus]

Basically. 100% of all funds generated in the game or outside of game will be distributed back to token stakers

[tidal ridge]

how is it distributed thought what percentage?

[wind walrus]

Revdis is paid out to stakers. Amount you receive is based number of tokens you stake and the token weight.

[storm cedar]

Can someone please do the Revdiv bot command so I can read about it

[edgy socket]

!rd

!revdiv

!revdis

[woven ibex]

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

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

[edgy socket]

3rd time the charm

[storm cedar]

Thank you

[final steppe]

Thank you, Ben!!

[edgy socket]

I am occasionally useful! :)

[gloomy gazelle]

False

https://tenor.com/view/lets-get-back-to-work-now-please-claire-crosby-the-crosbys-claire-and-the-crosbys-back-to-work-gif-17606170

https://tenor.com/view/illuvium-ilv-illuviumio-yield-farming-yield-farm-gif-22324807

Ben is basically the printer. Very useful

[lime moth]

where can we see how many weeks left on our staked ILV to unlock?

[gloomy gazelle]

Vesting tab

[lime moth]

perfect thanks!

[gloomy gazelle]

https://tenor.com/view/illuvium-ilv-illuviumio-yield-farming-staking-gif-22201712

[lime moth]

is it normal that pending rewards in dashboard tab is different from rewards in rewards tab?

[brisk surge]

imagine you have $1000 to invest. Would you split the money and buy 50% ilv and 50% Sushi LP or 100% ILV and then stake it?

[gloomy gazelle]

So the issue is the higher transaction costs you’ll need to pay in ETH. SLP is way higher…3x-4x minimum to be able to stake and claim and whatever. ILV only has much lower gas costs in the long run. With gas as high as it is now that’s something to consider.

[brisk surge]

Sooo? 😂

[mystic thorn]

Because the gas cost of SLP is extremely high because it is a complicated process

[lime moth]

I would go with the ILV, the SLP usually has higher gains and higher risk, here i think a big portion of the gain would go away with the high gas fees, so even if SLP would get you a bit more, its not worth the risk difference between the 2 pools, that's my opinion though. no financial advice 😄

[gloomy gazelle]

SLP might not earn enough to pay back your gas fees unless you are gonna lock it in for 52 weeks. ILV only will have lower gas fees so it’ll more likely earn more than your gas fees.

[brisk surge]

I think that I would lock it for 52 weeks. In the end, the goal is to have as many ILVs as possible in order to generate a fixed income.

[mystic thorn]

Correct

[gloomy gazelle]

Well if you are willing to spend more ETH over time on transactions then SLP may be the way to go. But it’ll be significantly more ETH over that 52 months.

!staking

[woven ibex]

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

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

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

[gloomy gazelle]

!lp

[woven ibex]

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

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

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

[cloud quiver]

I still do not see how impermanent loss will outweigh ILV earned through SLP over 52

[gloomy gazelle]

Yeah

It’s the gas fees that are killing it for small bags.

[mystic thorn]

Now if you had a bigger bag it wouldn’t be too bad but the gas fees kill SLP small bags because the gas fee is as much as your reward will be

[craggy ridge]

Hi all, I’m looking to stake into potentially both pools and I’m just trying to work out, is there any reason why I wouldn’t want to lock my stake in for 12 months asides from the risk of the tokens tanking and dropping in value? Bc aside from that I can’t see why you wouldn’t?

[wind walrus]

Yep, I'm not claiming until gas prices drop

[wind walrus]

Staking for 52 yields the best apy and token weight. Yes, project failing would be the biggest issue but with 45 million in reserve for building ecosystem I doubt that's an issue

[mystic thorn]

I mean hey why claim when you can wait

[elder dawn]

100%, gas is a huge barrier to entry right now. Claiming this weekend was $160 for me, and that was waiting for a relative "low" Gwei price.

[craggy ridge]

Yeah that’s what I thought, bc personally I’m bullish on the project so I can’t see a reason not to lock it for 12 months

Because I’m trying to asses the risk to determine how much I want to stake but aside from the game flopping or the tokens losing value and then impermanent loss for the SLP pool I really can’t see much that this almost seems like such a no brainer that I feel I have to be missing something? Is there any other real risks?

[mystic thorn]

I meant weeks haha

[brisk surge]

52 months poggers

[night sable]

Hello guys, I heard somewhere rewards HAS to be claimed, I am wrong ?
If not this mean I have to withdraw at lost due of gas ?

sorry for my newbie questions

[elder dawn]

you do not have to claim. you just don't earn compounding interest. eventually you will need to claim which starts the 12 month vesting period to be able to withdraw ILV. If you only have a small amount of rewards, I wouldn't claim at this point due to high gas costs

[night sable]

ok thanks, I want to buy 1/1.5 Illuvium for staking, will the rewards be worth to compound ?

[mystic thorn]

I mean weeks haha

[mystic thorn]

That will get you started for sure

[elder dawn]

At that level, your daily rewards currently would be around 0.002 ILV. Those will add up over time, but likely it would take a long time before those rewards are worth claiming and generate enough rewards on their own to justify the gas cost. My reco for now would be to NOT claim for quite a while (maybe not until you want to withdraw your original stake, which will claim rewards at that point).

[night sable]

Damn, thanks for your answer

[elder dawn]

Just trying to be honest with you. Yielding $1 per day on a $600 investment isn't bad. The toughest thing will be the ETH gas costs of the transactions to acquire the ILV, and then stake it. You're probably looking at $100 in fees to get started today, so at least 3 months before you make your initial fees back in rewards. Depending on where you think the ILV price will go in the future, it may make sense. Gas is the big killer right now.

[night sable]

yeah, that's sad, we need a bear-market to calm down this gas problem

[brisk surge]

yeah these gas prices are kind of insane at the moment

[sturdy python]

hi guys, sorry probably been answered a million times but when i claim my ILV rewards on my staked SLP, can I stake them right away in the ILV pool or do I need to wait 12 months until they are vested before i can do this?

[silver sky]

Actually when you claim ILV it automatically stakes it into the ILV pool, locked for 12 months

[fresh basalt]

so is this also has a weight of 2.0 and the APY at max level right?

[brisk surge]

since its locked for 52 weeks after you claim it I assume so?

[silver sky]

Yep. Bear in mind, the APY is variable and does drop 3% fortnightly but you will get the 2.0 token weight

[fresh basalt]

ok coz it is not explicitly stated but I assume it should be

[sturdy python]

thank you!!

probably be only worth it for my small bag to do once a year anyway

hopefully eth 2.0 though solves that gas problem

[brisk surge]

yeah with gas fees so high at the moment claiming any small bags would be a waste

[sturdy python]

appreciate the help people, always so helpful

[brisk surge]

its a great community here usually always people around to answer questions so never be afraid to ask

[ruby fractal]

Anyone done a breakdown of staking amounts and when optimal claiming of rewards might be for compounding? Curious myself but been too lazy to sit down and do enough of the math.

[elder dawn]

i just updated my calculator in collaboration with Lelahel. Its pinned here (comment by cooper). I'm still writing the instructions, but try playing around with the Simplified Dashboard tab. It shows you the impact of gas fees and predicted ILV rewards by claiming "every X ILV" earned, or "every day/week/etc." I also added a "optimize for gas % expense" which gives you a recommended date based on the compounding generated. Let me know what you think.

[brisk surge]

Thanks!

[quiet prairie]

!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

[bold sedge]

Hey I’m gonna buy some ETH on Coinbase, then what? Any resources I could look at for the process of investing in ILV

[brisk surge]

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

[gloomy gazelle]

This video ⬆️ and some other things pinned in here should be helpful

[brisk surge]

I really liked this video

[gloomy gazelle]

Yeah rahlord did a good job recording it. And Jeff did a good job editing.

[brisk surge]

oh shoot thats who made that I didnt even realize haha. but yeah it does a super good job at explaining everything and making sure you know exactly what your doing since it can be a tricky buisness.

[inland girder]

if i lock my staking amount for 6 months, what happens after this time? does the APY automatically fall to the normal value?

[elder dawn]

APY is dynamic and changes regardless. Locking just indicates how soon you're able to withdraw your investment. APY is more a snapshot and is useful to understand rewards you anticipate today, but it could (and likely will) change tomorrow. I just wrote on this in my blog today publish0x.com/ILVFi

[inland girder]

nice, thank you!

[inland girder]

so i can dispose of the coins immediately after the 6 months. but as long as I continue to stake, I get the "simple" (without multiplier) APY at the current point in time.

[elder dawn]

no, you actually keep your initial weighting until you withdraw. At 6 months, you get 1.5x weighting so 1.5x the "base" APY. If you stake at a year, you get 2x weight. That initial weight (which also determines revenue distributions) stays until you withdraw.

[inland girder]

wow, thats nice!

[elder dawn]

So, personally, I'm in for 52 weeks, and plan to stay in as long as I still like the investment. Yield farming continues for three years, so you continue to gain ILV at the initial weight. You just gain the option to withdraw after your lock up ends

[inland girder]

sounds great, thanks a lot! i love the project!

[mystic thorn]

its is amazing

[patent robin]

I need some help with restaking, I want to add more to SLP and dont want to mess anything up.

I already have 1.50 IN SLP and my rewards right now are 1.46 ilv

[elder dawn]

You're looking to add to your SLP stake? This will be a separate staking, with its own fees. You will claim your current rewards, but the amount you add will have its own lock timing. You can't really "add" to an existing stake, you can just create a new one in the same pool

[patent robin]

Im okay with the fee, should i claim the rewards and do the process to stake SLP? Will my rewards go to my wallet or be added to lock timing?

[cyan rampart]

There's not much to mess up - Stake whatever you're looking to stake w/ the correct lock period, you'll be prompted to claim rewards (as ILV or sILV, whichever you prefer), approve the transaction and you're all set.

[brisk surge]

When you go to restake more SLP, it will ask you to claim then. Do it all in one process

[elder dawn]

Don't claim first - just stake. It will claim as part of the staking.

[patent robin]

Thanks.

[brisk surge]

yea it'd be helpful if a CEX at somepoint just offered illuvium and staked it

[brisk surge]

Imagine the pump in price if coinbase lists it and offers like 35% staking rewards.

lol that'd never happen

but yea it'd go up.. goes to show the power that CEX's have in affecting price... similar to when a stonk gets listed on the NASDAQ off of OTC but maybe a bit easier to see

more likely would be something like exodus but pretty unlikely even then until the game's out

[marble heath]

I've been seeing this on the gasnow website and i'm planning to transact right now, do you think it's okay for me to set the metamask gwei limit to 70 right now?

[exotic igloo]

Sure

[mystic thorn]

yes

[marble heath]

nice 😄 thank you

[fervent tapir]

hello guys what would be the best way to stack about 2 ILV coins atm?and is it possible to stack like 0.5 ilv?thanks for answer

[mystic thorn]

yes just go to the illuvial website and stake however much you want

[gloomy gazelle]

!staking the video at the bottom of the next post should be helpful.

[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

[fervent tapir]

so first i must buy some eth in any platform then send it to metamask and then buy ILV?right?

[marble heath]

yes

[mystic thorn]

yup

[brisk surge]

So I tried to claim rewards and put in 69gwei but price spiked up and now its stuck in limbo. You guys think theres any chance it completes if I just leave it overnight?

[gloomy gazelle]

!gas

[woven ibex]

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

[knotty river]

pelican22 [won’t DM first]

:fuelpump: Current gas prices

Slow :turtle: | **>10 minutes**

79 Gwei

Average :person_walking: | **3 minutes**

79 Gwei

Fast :zap: | **15 seconds**

80 Gwei

Fetched from gasnow Use !help to get the list of commands

[manic spindle]

69 gwei definitively sounds like something that could go through in my opinion. I've set mine lower the last days and had it go through as well.

[brisk surge]

Ok thanks. That makes me feel better. I dont want to have to waste the gas and do it again!

[gloomy gazelle]

Yeah. I’d Leave it overnight and check it in the morning. Then You could speed it up or cancel it if you really needed to.

[brisk surge]

Yeah its not really a rush. I assume my ILV rewards continue accruing while the transaction is pending. Will the claim transaction time out eventually?

[marble heath]

is 60 gwei asking for too much?😭

or is that possible if i leave it overnight

[manic spindle]

Impossible to give you a guarantee, but personally I would have hopes for a 60Gwei to pass through at some point, yes 🙂

[marble heath]

in the last hour i saw some 52 gwei pass through so im staying hopeful

[cyan rampart]

Tonight is the most likely candidate for a 60 gwei to get through! If you're able to be patient I imagine it would go - we've had as low as 52 gwei in the last hour or so.

[grand laurel]

On the sushi LP page atm normally there is a bit at the bottom where you click to approve the transaction. I've done it twice before but today that button is not there, anyone know why this could be the case?

[hot lynx]

Hi everyone how are we doing 👍🏻 🇦🇺

I have a staking question kind of .. what happens if you do the sushi LP ETH/ILV piece and then don't transfer it to the flex ILV pool 🙏🏻👀

[silent spire]

Whenever you claim you SLP pools rewards, it will get transferred to locked 12 years ILV pool automatically.

[cunning perch]

You mean provide liquidity and don't stake or lock it in any pool? Then you'll just be a HODLer since your ILV is sitting in your wallet in form of an SLP token. 🙂

[quick flare]

last week I staked 1 ILV and got 0.39 SLP back, this week with 1 ILV I only got 0.36 SLP. Anyone knows the reason?

[manic spindle]

a) yield farm rewards drop by 3% every two weeks. b) APY is not static but fluctuates with people joining/leaving the pools etc 🙂

[quick flare]

hmm 0.36/0.39 seems greater than 7%

[manic spindle]

If someone with a huge wallet would join the LP pool now, your rewards could drop vastly more. As said, it's not static 🙂

[quick flare]

yep the pool is kinda complex, it's ok just curious

[hot lynx]

Wow 12 years ... 9 would be better 👀

[manic spindle]

!claim It's 12 months not years 🙂

[woven ibex]

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

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

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

[short notch]

hey guys im late to the party and pretty poor. Well not poor, diversified. Right now though I only have enough liquidity to buy one or two tokens max. do you think it would be worth staking with only one or two tokens? Im fine locking up for 12 months. i would lock up for longer if that was an option. Super bullish

[silent spire]

My bad, I meant to say 12 months 😄

[primal zodiac]

Is there a way to check current impermanent loss on a position?

[dusky rock]

You can find many calculators online, just use google to search for those and You will get few options.

[viscid ferry]

Try this one.. Scroll down to the IL calculator..
https://analytics.sushi.com/pairs/0x6a091a3406e0073c3cd6340122143009adac0eda

[fading kettle]

are gas fees to stake really $100? 😦 got some slp tokens i wanted to stake but i am insufficient

[clear cape]

Can wait for it to be a bit cheaper but yeah it'll probably cost you more than 100 tbh. Maybe not for the first time though

[fading kettle]

unfortunate, but I see. I was planning to stake half of it on flexible and half of it on locked. that means I would have to pay around $200+ in gas fees right?

[clear cape]

I would imagine it would be something like that yes. I would wait for maybe 70 gwei

[fading kettle]

I'll take a note of that. Thank you!

[sacred blade]

Why is the sushi LP token configured for a much higher weight? Is there any disadvantage to staking in that one compared to the ILV?

[unreal pelican]

Hey guys, having an issue with rewards claiming - at least twice I've gone to claim my LP rewards, and instead the transaction has claimed the normal staking rewards instead, and I've had to push through a second transaction to claim the LP rewards as intended.

Im definitely clicking the right button, as I've paid close attention since realizing this was happening. Bit of a pain in the current fee market cause its meant unintentionally i've spent about $400 claiming maybe $60 worth of ILV in my last couple attempts at claiming LP rewards.

Im using Brave browser if this helps.

[fiery spire]

Impermanent Loss

[fiery spire]

That's normal. When you click the button "CLAIM ILV" from the SUSHI LP pool, it will first claim the ILV from the ILV pool and then it will claim the ILV from the SUSHI LP pool. So that will be 2 distinct transactions.

If you click the button, you will see the message

[unreal pelican]

Ah! Any plans to allow individual transactions for claiming rewards for the respective pools in future

[fiery spire]

I think there's a proposal coming regarding staking 2.0, don't know if that will be one of the changes proposed

Actually, I came here to ask if it's possible to simply cancel the first transaction (claim from ILV pool) and only accept the second transaction (claim from Sushi LP pool). Is there any problem to do this?

[gloomy gazelle]

I’ve not seen a claim transaction time out. I have seen one pending for more than 5 days and then when it’s gwei rate was reached and it was processed it ran out of gas (I’m not entirely certain why it even did run out of gas… but my assumption is that since there were so many more rewards to claim after so many days that the transaction was simply that much more complex) I’ve also seen them successfully processed after pending for at least 3 days.

[neon isle]

@crude ibex are you talking about claiming sILV?

[crude ibex]

Kinda talking about all options and how folks are playing it. Right now my rewards are just sitting unclaimed. Curious if it’s best to hit claim so those rewards can start compounding? Or if better to just let them sit until the game starts and then claim sILV. I’m assuming there’s no lock up for sILV but can’t claim that way until game drops?

[neon isle]

it really depends if the gas price is worth the reward you're claiming.

[gloomy gazelle]

Good question. Thanks for helping. I’ve gotta go.

[crude ibex]

And when you claim then, it shows up as locked up on your dashboard or something? Mine worth claiming now cause I’ve earned about as many as I staked . I staked an eth worth of ILV and an eth in the pool and have almost as many ILV as I initially put in just sitting unclaimed, so you figure better for me to claim and get those earning interest as well?

[neon isle]

There's really no one gameplan for claiming rewards and it would really depend on the needs of the person. If you want to actively play the game and progress faster then sILV would help. ILV would be for those who want to hold long term for value and earn revdis (sort of like a passive income with minimal effort)

[wheat kestrel]

To add to this, it is more about the fact that SLP adds liquidity to SushiSwap which reduces slippage and improves the trading experience. That’s something the team has said is important to them.

[crude ibex]

I love staking coins im bullish on versus eth cause you get the coin as rewards and worst case you end up with more eth which is never a bad thing

[mystic thorn]

You are speaking facts my boy

[neon isle]

when new people ask about illuvium i just generally refer this blog to them as it answers most if not all of their questions. so i think you should give this a read @crude ibex

https://www.publish0x.com/@Deraji

[crude ibex]

Thanks bud and will do. One last noob question if y’all can handle me? When our ILV is vesting do we know the rate it’s being compounded? Is the the same rate as the straight ILV staking pool?

[neon isle]

yes, same as the ILV core pool (aka the lower APY)

[crude ibex]

Thanks

Seems like dumb play by me then to just keep them sitting earning nothing when I can throw them into vest mode to start clock and earn interest. … this is my retirement play though. It’s either gonna be the future or not so no intention to sell for years is why I didn’t bother vesting but stupid to not let them earn

[gleaming brook]

When I click on the Stake button, I was asked to grant permission to staking.illuvium.io and there is an associated transaction fee. What should I put as the Gas Limit and Gas Price? Or should leave them as default. Current Gas Limit is 48759 but Gas Price fluctuates. Thank you

[silver sky]

We should create a rule of thumb to give people some idea in claiming rewards: ie.

If SLP pool reward > X ILV, claim at Y or below gas
If ILV pool reward > Z ILV, claim at Q or below gas

[cunning perch]

usually default works, but you can see the gas prices on the right side of the discord screen (swipe left on phone) or check gasnow.org to see the prices of fast-slow. For the limit, I myself always add 50,000 more to whatever default there is. It might not be important, but I do it anyway even if it costs more gas.

[fiery spire]

Has anyone tried this? 👆

[brisk surge]

hmm im not sure

[steady trellis]

Is this helping ?

[mystic thorn]

Dang look at the rewards

[steady trellis]

Keep in mind it’s a simulation only not 100% accurate as things fluctuate

[mystic thorn]

Right on I agree

[wheat kestrel]

This exists. See the pins and go to the blog by Deraji.

[crude ibex]

Yes. Helpful discord for sure. Liking the community

[brisk vector]

Someone mentioned yesterday that they did this and it seemed to go through successfully

[crude ibex]

Tried what? Claiming sILV?

[brisk vector]

This. Boulton did this go through successfully?

[crude ibex]

Oh y’all staking both. I’m an LP stake maxi

[brisk vector]

As it stands if you're claiming monthly you need ~15 ILV on top of your SLP stake to make the double claim worth it

[brisk vector]

As you claim your SLP the rewards are going to the ILV pool so you'll need to do both

[crude ibex]

We can still claim when we have a time locked stake right?

[crude ibex]

Oh ok, gotchya. Thanks. I haven’t claimed yet. I thought we waited until stake ends for some reason

So as you claim you just get different vesting clocks for each claim?

[brisk vector]

You got it. Which means you might be at 3ILV for the SLP rewards, but still at like .1 in the ILV rewards, and they'll populate separately in vested so even once the 1 year is up, you'd have to claim them separately

[fiery spire]

@echo steppe is everything fine after your single claim?

[crude ibex]

I may just stick with my plan and claim all at once when my stake ends then . By then game should be out and I’ll just claim sILV

I’m assuming sILV will have no restrictions on cash outs once your in the game?

[brisk vector]

What do you mean by cashouts?

[manic spindle]

!claim sILV would be unlocked and transferred to your wallet right away when claimed, if that's what you mean 🙂

[woven ibex]

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

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

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

[inland girder]

do i have to withdraw claimed rewards separately?

[brisk vector]

@manic spindle do you know why when claiming both pools they are vested separately? It's same weighting, same lockup period, shouldn't they merge to one vest pool to ease the gas fees

[ruby wing]

to my knowledge yes

[brisk vector]

Yes they vest separately

[brisk surge]

Indeed

[inland girder]

thanks! would be great if these could be summarized in the future

[manic spindle]

Not completely sure, why that's the case, no, sorry. I assume it's because these are basically two separate transactions, but maybe @hexed bough can shed some more light on this 🙂

[inland girder]

I staked another part yesterday and was forced to claim my reward. were only around $ 30 since I only started a few days ago.

[brisk surge]

Ripppp

[brisk vector]

Honestly I would even take putting them all in one pool where everytime I claim rewards the entire vested pool resets to 1 year lol. The main concern is eventually withdrawing any amount is going to be 50+ transactions years from now

[crude ibex]

Thanks but seems like a while until we can use sILV right?

Anybody run the math on what makes sense with gas costs to start the transaction chain. I’m guessing 5 ILV or so?

[manic spindle]

Well, in the main game, yes, if you consider 4-6 months a while. But don't forget that sILV also can be used for the land sale in roughly 7-10 weeks and possibly other sales as well 🙂

[crude ibex]

Sweet. Didn’t realize a land sale was coming up. Bout to be like McDonalds in this mfer. Location location location

[manic spindle]

It's related to the mini game Illuvium Zero. Check the GDDs pinned in #🎮〕illuvium-zero and the proposal in #📰〕governance-news for more info 🙂

[glad sinew]

Hi ! so if APY now 76% it means if I lock my IVL token for 12 months are APY can change in that time period? Or I locked on 76% and thats what i get? thanks 🙂

[crude ibex]

Can change day to day

[supple vapor]

Hello! I need help please, I have been trying to staking for 2 days, but there is no way to process the transaction with metamask (it remains pending for more than 24 hours). I selected about $ 10 of gas. Does anyone know what is the minimum gas for it to be processed without problem? Thank you very much in advance.

[cunning perch]

APY changes and you get rewards based on the changed APY 🙂

[brisk surge]

the average for gas in around 100 to 150 dollars at the moment

[brisk surge]

its not going to go through at this time if you are only selecting 10 bucks

[mystic thorn]

lets go!

[supple vapor]

Understood. Thanks!

[drifting elbow]

@cunning perch I just saw you talking about setting a higher gas limit on transactions, and now I'm wondering if this works as I' thinking:
Can I instead of pay a 21000 gas limit transaction with a gas price of 2,
Choose to pay a 42000 gas limit transaction with a gas price of 1?

[cunning perch]

No idea. I personally don't experiment with it 😆 here I might not be the best person to help

[brisk surge]

Hello guys, i'm novice and i have a simple question. If i put a in liquidity pool ILV/ETH 5k both, how many SLP number i have ? 10ILV/1,20 ETH ???
Definitly i have 10 ILV in a pool and 1,20 ETH in the other so with an apy of 600% in locked staking for 12 months. In the 12nd month i will have 10 x6 ILV and 1,2 x6 ETH ?

[next ruin]

All staking rewards are paid in ILV only.

[manic spindle]

!claim you can claim yield farm rewards in sILV as well 🙂

[woven ibex]

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

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

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

[brisk surge]

ok so if i put 5k of ILV and 5k of ETH in pool, there 10k of ILV in fact ? If now with 10k i have 25ILV for example, whatever the price in 12 months i will have 25 x6 ILV , with many fluctuations on apy but approximativly if we keep going on 600 % ?

[signal junco]

If I am going to stake sILV I start buy just buying ILV just the same for both?

[cunning perch]

if you need sILV, you can choose it as your rewards whenever you wanna claim. for that, you need to have staked ILV in ILV pool or SLP (Sushi Liquidity Pool). and you **CANNOT **stake sILV.

[covert sage]

is sILV on uniswap?

[mystic thorn]

No to get silv you have to stake ilv and claim silv as rewards no official silv though

[cunning perch]

There's an unofficial pool made by a random person in both Uniswap and Sushi. Again, it is not official.

[bitter dock]

when i claim my ILV rewards, would i be able to re-stake them into the liquidity pool?

[covert sage]

So when i stake in the SLP pool I can't get any of my rewards?

[cunning perch]

when you claim ILV, it will be locked for one year in the vesting section. After that, when the locking is done, you can withdraw and then add to LP along side ETH. But not before that

[cunning perch]

you can get sILV immediately. ILV rewards will be locked for one year AFTER claiming

[lilac fractal]

OK I'm sorry but where do I go to stake ILV for ILV

[cunning perch]

!staking

[woven ibex]

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

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

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

[bitter dock]

thank you!

and the only reason to claim the rewards earlier, is so they will be unlocked earlier right (12 month vesting after claiming)? a trade off between gas fees, and unlocking some ILV earlier?

[mystic thorn]

They will not be unlocked ealier it’s just an extra reward that they are giving you I would suggest saving it up so you don’t have to use as many gas fees

[cunning perch]

Not just that. any claimed rewards along side your staked ILV will be subject to receiving RevDis. so It's pretty logical to claim them as fast as you can 🙂 but be mindful of the gas

[mystic thorn]

What is RevDis btw

[cunning perch]

!revdis

[woven ibex]

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

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

[bitter dock]

got it! RevDis only happens after the game is live though, and actually generates income, right? i guess that's supposed to happen in Q1 2022 with the current timeline?

[cunning perch]

RevDis starts with the land sale 🙂 (I'd say November-ish)

[bitter dock]

Ahhh good to know! I overlooked that

[covert sage]

So i have to wait 12 months after i claim to touch my rewards. So why do we lock up the lp tokens for 12 months 2?

[cunning perch]

#🥩〕staking message and also for more rewards. LP receives way more rewards

[mystic thorn]

Because then they double in weight in that time period

[signal junco]

Thank you, sorry I meant SLP not sILV but you still answered my question. You steak ILV regardless

[cunning perch]

yep. No worries 🙂 happy to help

[mystic thorn]

Ohh we love steak 🥩

[cunning perch]

hence the channel logo lol

[mystic thorn]

Exactly haha

[brisk surge]

i actually never even realized this lol

[brisk surge]

sILV is on uniswap its just quite a bit cheaper that ILV at the moment.

[brisk surge]

yeah at a bit of a discount at the moment

[wispy ferry]

How's everyone doing today? I believe I read that when Revenue Distribution begins, the pool weights do not apply to the distribution so 50% goes to the ILV pool and 50% goes to the Sushi LP pool. If this is correct, would the pool weight come back into affect when the staking rewards come to an end?

[covert sage]

@brisk surge so it's possible to cash out every time if you get silv

[brisk surge]

theoretically but you have to have a huge bag for that cause you are going to need to pay gas every time you cash out

[brisk surge]

Yes

[bitter dock]

What are pool weights for? To show the split of revenue distribution in game to the two different pools?

[brisk surge]

the pool weights determine how many tokens are rewarded when mining. the SLP pool has a weight of .8, thus you receive rewards much more quickly in the the SLP pool compared to the core ILV pool

[next ruin]

Token weight applies to all RevDis, which goes to all staked tokens. There is no 50/50 split.

[wispy ferry]

The pool weights are for the staking rewards. There are a set amount of rewards to be released every fortnight (2 weeks). The rewards decline over time. The total rewards from each fortnight are initially split between the staking pools based on the pool weight. Approximately, 20% to the ILV pool and 80% to the Sushi LP pool (exact weights are on the staking page as they fluctuate a little). After they are split, the stakers in the ILV pool split the 20% share based on their token weight and amount staked. Same for the Sushi LP pool but they split the 80% share.

[wispy ferry]

Are you sure? pool weight and token weight is much different.

[bitter dock]

ahh thank you for the info!

[next ruin]

Exactly, pool weight applies to YF, not RevDis. There is no pool weight in the RevDis, only token weight matters.

[wispy ferry]

I agree but I thought I read the rewards are split between the pools at 50/50. Then the individual distributions are decided based on the stakers token weight from within that pool. Let me see if I can find it.

[final steppe]

RevDis won't be split 50/50 between the pools as each pool is going to have a different number of staked tokens. It would be 50/50 split if there were the same number of ILV tokens staked in each.

So first, the RevDis will be split between the two pools based on how many tokens are staked in each of the pools.... then inside each of the pools, the revenue will be distributed to the holders and their token weight comes into play

[wispy ferry]

Not sure why I thought 50/50 but..... Frequently, the Vault will buy $ILV from the Sushi $ILV / ETH pool. This $ILV is stored in the Vault and made available for the token holders to claim.*
You can let this accumulate until the value is high enough that you feel it is worth the gas fee. Pool weight is not used for distribution calculations, and instead, the system counts the total number of $ILV per pool and distributes it accordingly. Inside each pool, the token weight and quantity of tokens determine how much of the total $ILV purchase each token holder is entitled to.

[wispy ferry]

Perfect my original question can still apply. After the rewards run out, do you think the pool weight of the split will come into affect?

[final steppe]

Just to make sure I'm understanding, are you asking if the 0.8 SLP and 0.2 ILV pool weights will apply to the revenue distributions once the yield farming rewards have all been issued?

[wispy ferry]

Correct, or some other weight ratio between the pools if not 80/20

Did not mean to say come back into affect above since it was never in affect* I edited it.

[brisk surge]

is there any chance someone could explain what revenue distrubutions are and how it works?

[wispy ferry]

This article has some good information. https://medium.com/illuvium/29-governance-yield-farming-and-vault-distribution-faq-7327ae7eb507

[next ruin]

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

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

[brisk surge]

ah thank you very much my good sir

[final steppe]

Pool weights won't apply to Revenue Distributions since RevDis is based on the token amounts and token weights. @wispy ferry

So while the RevDis IS going to be split between the SLP and ILV pools, it is first based on the token count in each pool... since that token count will always be changing, there's no "set" weight or amount that will be distributed to each pool every time.

For example:
ILV pool as 3 million tokens in it.
SLP pool has 2 million tokens in it.
RevDis that occurs right at that time should see 60% go to the ILV pool and 40% go to the SLP pool.
Then in each of those pools, Rev will be distributed to the stakers based on the # of tokens they have in that pool and their token weights.

Say then another RevDis occurs a few days later but somehow (just random numbers)...
ILV pool now has 4 million tokens in it.
SLP pool also has 4 million tokens in it.
RevDis that occurs right at that time should see 50% go to ILV pool and 50% go to SLP pool.
Then in each of those pools, Rev will be distributed to the stakers based on the # of tokens they have in that pool and their token weights.

[brisk surge]

yo what is going on with gas right now

[wispy ferry]

I believe it also includes 5% less the IMX fees for market transactions as well.

[brisk surge]

ive never seen it this high before my gas fee is 1500 dollars

[mystic thorn]

gas to the moon baby 🚀 im investing in gas

[brisk surge]

somebody must be minting a whole bunch of NFTs

[brisk surge]

so if someone is minting a bunch of NFT's its one transaction for every NFT? flooding it with transactions?

[brisk surge]

They usually set the gas super high (like 1000gwei max) so they can get all the minting done quickly which drive the gas price waaaay up.

[mystic thorn]

well thats fun

[wispy ferry]

I would think this may need to be rethought or considered for vote. Correct me if I'm wrong but this model significantly strips incentive for anyone to continue to provide liquidity when mining rewards phase out. Especially since the formula uses only half of a liquidity providers value -> ILV and not ETH. With the risk impermanent loss, what will prevent everyone from pulling liquidity and heading to ILV pool?

[brisk surge]

I think by the time the staking rewards run out we should have some major exchange listings so we wouldnt really need the pool as much. There is also the rewards from the transaction fees that continue to generate value for the pool. Its the only motivation for most pools and they are still around.

[next ruin]

Treasury tokens can be used to provide liquidity if needed as well. Don't see a need to specifically encourage liquidity pool staking long term.

[wispy ferry]

I don't think those rewards will be enough because they would have to be significantly better than the REV distributions when you weigh the level of risk of providing liquidity. The CEX possibly could help so people can still purchase ILV but we are still going to need a DEX for many.

[brisk surge]

I would hope the treasury stays just for covering expenses and further development. I dont really see it as the DAO's responsibility to make liquidity availible.

[wispy ferry]

This is my point though, I think it would 100% discourage liquidity providers. Pools would vanish or have low liquidity.

[wispy ferry]

Definitely agree with this statement

[brisk surge]

I mean I agree. I'll be out of the SLP pool when my tokens unlock. If enough people leave the pool the rewards become more significant though and make it more profitable for those who remain. Tokens usually only have high volume on DEX until a good CEX option comes around. Especially with gas fees these days

[mint cave]

this is normally true, however the treasury will be marketing buying from the sushi pool for revenue distribution

[wispy ferry]

That only applys if those people don't leave to the ILV pool though.

[mint cave]

meaning volume will be very, very high.

[bitter dock]

question - since the rewards from staking are locked for 12 months if you claim ILV and it doesn't earn interest when they're locked, would it always make more sense to claim sILV right before the land sale, if I intend to participate in it?

[brisk surge]

Thats gonna create a lot of IL for SLP holders as all the value gets arbitraged out to the CEX with more stable prices from their order books.

[next ruin]

The more people leave, the higher rewards get, the more people dive back in. The problem will solve itself.

[wispy ferry]

Agreed

[wispy ferry]

But it is a matter of ratios. It only applys if the people don't leave the Sushi Pool and head to the ILV pool.

Which is exactly what I would do.

[next ruin]

It's almost like you didn't read the comment you replied to?

[brisk surge]

i thought that the locked ILV was staked when you claimed your rewards?

[wispy ferry]

I read it but don't think you are understanding. Your reward doesn't get higher by staying in the Sushi LP pool when people leave. Because when people leave they are taking their ILV with them which means even less of the reward distribution is coming to the pool.

[mint cave]

you're correct

[mint cave]

claimed ILV does earn interest when it's locked

[bitter dock]

oh my mistake - thank you for the correction!

and it earns interest at the ILV pool, not the liquidity pool? or would you get to choose?

[mint cave]

it's single ILV, so it is in the single ILV pool

[wispy ferry]

@mint cave Jeff, any opinion on my thoughts or anything I'm missing?

[next ruin]

And I'm saying that if the LP gets to levels low enough to cause issues, the rewards (fees) to provide liquidity will outweigh what you'd get via RevDis anyway.

[mint cave]

rev dis is by token, not pool

[brisk surge]

it would only earn interest in the liquidity pool if you had ILV/eth, since your claim is only ILV you would only earn interest from the ILV pool

[mint cave]

so people leaving the SLP will increase your yield farming rewards, your revdis is unaffected

[brisk surge]

Its not as efficient for revenue distribution but we are talking about the regular yield farming benefits of being a liquidity provider. Those become more pronounced the smaller the pool is.

[wispy ferry]

Thats definitely not true. Because there may not be any liquidity to trade against

[wispy ferry]

I hear you but this is all pertaining to after yield farming phases out.

[next ruin]

Then token price skyrockets and the fees are making you absolute bank by being one of the few providing liquidity. Or we are almost fully on CEX and the point is moot

[mint cave]

ah hah, then yes the "only" incentive left to provide LP would be the normal reason to provide LP, trading fees. so if more people left, you'd have a larger % of the SLP pool in general, making more % of the fees.

most would likely break their SLP back into ETH/ILV and buy back ILV with that ETH for more revdis...until an equilibrium is reached w/ the profits of the sushi pool

[wispy ferry]

Dude that's speculation 😂. Listen all I'm saying is once the yield farming is gone we need to bring some kind of incentive to the table for liquidity providers. Such as putting pool weights into affect for rev distributions.

[mint cave]

would rather see the treasury continue to provide liquidity than change the mechanics of revdis, personally

[wispy ferry]

Yes but can those fees outpace rev distributions and no risk is the question

[brisk surge]

tell me youre new to yield farming without TELLING me youre new to yield farming.

[next ruin]

It's not speculation, it's the basics of how DEX works. If liquidity is small, and there is constant buy pressure (RevDis) - token goes up.

[wispy ferry]

Who me?

[wispy ferry]

I understand that! But not if there is no liquidity in the pool!!! Why would anyone provide it ????????? I can single stake safely and earn rev distribution. We are banking on the hope people want to risk impermanent loss to capitalize on some transaction fees from sushiswap. Providing LP without some other incentive is usually a poor investment unless you are a whale. But in this case that whale could take his money and put it in a single stake pool ILV and reap the rev distributions. Anyone who can't see that as a potential problem should rethink it and bring it up to others to get more thoughts on it. We are in this together, just looking at all angles and maybe some things that haven't been thought of yet for the future.

Another potential suggestion that this could be a problem down the road is the TVL between the pools. ILV nearly doubles the Sushi LP pool despite the significantly higher rewards. I realize some of that TVL is locked from people claiming in the Sushi LP pool but I wonder how much it accounts for.

[cyan rampart]

If we're picked up by a CEX or two (keeping in mind this is in over 2 years), we may not need an in-house liquidity pool anymore.

[wispy ferry]

Possibly although laws and regulations will always create barriers to entry without a DEX.

[ripe steppe]

Could be in less than 2 years considering rate of crypto adoption keeps speeding up and we’ll be in top 100 cryptos not in that much time

[cyan rampart]

It's possible trade to trade on a CEX without complying with their KYC - KYC is typically for fiat to crypto transactions and vice-versa.

[wispy ferry]

Some for sure but some are outlawing it as well.

[cyan rampart]

Exactly, I'm most thinking about when yield farming ends. The LP is to provide liquidity and ensure that ILV is accessible while we're NOT on a CEX.
I think we'll be listed on some major exchanges well before YF is over.

[cyan rampart]

Definitely - given that it's so far away, I think that's something to deal with 2+ years down the road when we're getting close. There's all manner of solutions available if we need to solve a problem, but we don't actually know if a problem will exist yet. If ALL CEX are hardcore KYC and unreasonable to use, that's a future problem to be solved, and there's lots of ways to solve it.

[wispy ferry]

I hope it to be true but DEX will provide the lowest barriers for entry if speaking for potential number of people only. (not barrier to entry like tech skill level)

[cyan rampart]

As Jeff said, we do have a treasury that could provide liquidity if needed.

[wispy ferry]

For sure, definitely a potential problem for another day.

[brisk surge]

Gonna lose half the treasury to IL if we do that lol.

[primal nimbus]

what is staking?

[brisk surge]

check out some of the reccomended reading in #791148036935516161 and it will answer all your basic questions.

[cyan rampart]

Only if the token price is still super volatile. Done in combination with a small amount of revenue covering any losses, I don't think it would be unreasonable.

It feels like we're thinking up hypothetical absolute worst cases (we're thinking like 1984 style CEX where they require a camera in your bedroom to use them) for a potential issue that's way down the road. It's good to identify that the current system for liquidity will cease to have incentive down the road, but some relatively simple changes can easily make providing liquidity desirable, if that's something we actually still need to do.

[manic spindle]

!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

[primal nimbus]

how do i set up a wallet. im so sorry

[tacit iris]

I used a metamask wallet

[manic spindle]

Check the detailed video mentioned in the message above your question. It goes through all the steps from wallet setup over buying to staking 🙂

[tacit iris]

But my question. Is it better to keep your rewards pending or better to pick them up ever once in a while? Is there any benefit to picking it up? Because i staoe for 52 weeks anyway

[wispy ferry]

I agree with the easy solution which is why I was wondering if something like starting pool weights for Rev Dis at that time would make sense.

[manic spindle]

!claim only claimed ilv rewards compound 🙂

[woven ibex]

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

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

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

[tacit iris]

Ahh thank you thats what i wanted to know :D

[umbral lava]

XYZ staking ends in 10m, do we have to unstake before that or we can unstake after?

[cyan rampart]

You can unstake after!

[umbral lava]

Awesome, not really feeling like paying this gas. Cheers!

I assume only rewards will stop dropping

[cyan rampart]

That's right, your XYZ will stop collecting rewards and will just sit there waiting for you to unstake when you want to.

[brisk surge]

@foggy hazel

!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

[brisk surge]

@elder dawn @steady trellis big thanks to you both for v1.3 of the staking calculator

[elder dawn]

Awesome, really appreciate it! Lots of new features, so check it out and share your feedback.

[wind axle]

hello frens

[brisk surge]

why hello

[mystic thorn]

whats going on boss

[opal siren]

Did you figure out how to unstake? I'm seeing it grayed out on my end

[mystic thorn]

if something is locked you cannot unstake until the period is over

[opal siren]

XYZ period over?

[mystic thorn]

im not sure maybe @ruby wing has an answer for that

[ruby wing]

I believe so, but let me double check. I think the XYZ staking is flexible anyway so you shouldnt be locked. Try refreshing your page maybe.

[mystic thorn]

i didnt realize you were talking about XYZ mb

[gusty osprey]

Good morning everyone, quick question : on gate.io is it possible to pay the fee to send ILV from Gate to MM in ETH or is it compulsory to pay with ILV ?

[opal siren]

hmm no dice =/

[ruby wing]

I believe it is closed

[manic spindle]

XYZ flash pool is over, yes. To unstake you have to go to "Vesting".

[opal siren]

right, I'm trying to withdraw

[opal siren]

tyvm stormi ❤️ worked!

[serene tartan]

Hey, fellas.

Just want to confirm that when claiming the rewards in ILV-ETH pool, there are two transactions that are prompted (i.e., you need to claim BOTH the ILV-ETH pool and ILV staking rewards)?

and that there is no other way around it - like you can't just do one transaction and not the other?

[next ruin]

Correct, you are forced to claim pending rewards from both pools.

[opal siren]

Yea I'd like to add an IIP sometime around this -- not particularly user-friendly, but perhaps there's a design decision I'm missing

[serene tartan]

Thanks, @next ruin and @opal siren !

[ruby wing]

It was actually the most efficient way to do it relative to the way the contract is. Aaron has talked about it if u search the discord.

[opal siren]

reckon things may have changed since we're in the end-times of the gas wars now

[ruby wing]

I know that they are looking into solutions to try to help with it tho. Hopefully an IIP coming soon, I know Kieran was talking about something. (could be wrong)

[serene tartan]

Would you suggest then to wait longer for both ILV-ETH pool and ILV staking rewards to be substantial before claiming?

In my case, there was a decent amount of rewards in the ILV-ETH pool but not as much in the ILV staking.

[mystic thorn]

yes because gas fees are going to take some away so you wanna claim as least amount of times as possible

[ruby wing]

Yes, especially if u plan on trying to buy Land and claim sILV 😉

[mystic thorn]

land will generate you more income

100 silv is a lot

[ruby wing]

I think thats a great start! No clue what it will go for but Imma be trying to save around that too.

[mystic thorn]

isnt that like 20,000 USD?

[serene tartan]

Thanks, @mystic thorn and @ruby wing .

Really appreciate all you folks here on the discord, in always being patient and answering all my noob questions. 😆

But really, appreciate all you guys!

[lime ravine]

Wow 🤯

[mystic thorn]

anytime my guy we are here to help

[opal siren]

is 1 sILV = 1 ILV? if so 100 sILV is 50k USD lol

[brisk surge]

That’s an insane amount holy moly

[mystic thorn]

i dont think they are equal atm no when the game releases they wil be

[lime ravine]

Wondering if I will ever get 2 ilv. Lol

[mystic thorn]

hha i know and they are talking about 100 silv

[next ruin]

Atm, people are selling sILV at a discount to realize some profit - but the value of sILV is pegged to ILV.

[opal siren]

ah so yea 1:1 basically

[mystic thorn]

holy moly i guess they are 1:1

[lime ravine]

Dang. You good

[mystic thorn]

right they are unoffically selling it

[lime ravine]

How is that even possible

[next ruin]

sILV is unlocked as soon as you claim it and is a tradable token like anything else. Someone set up a liquidity pool - it's just not official.

[manic spindle]

This is DeFi 🙂 Everyone can open a pool on a DEX if they want to. If there is liquidity and demand somewhere, you can sell stuff. sILV ist a regular ERC-20 token just like ILV. And since claiming it as YF rewards is transferring it to your wallet, you can do what you want.

[nova violet]

So i managed to stake my friends slp in flex.. was gonna do full year on it, but was watching the gas fees, and opened the wrong window. Just relized i put it on flex when rewards didnt match... anyway to move it to locked? without claiming rewards and back to mm and back again. so damn expensive gas fees, he only put like 2k in so it kinda takes a big chunk out of it with the fees if i relock it.. unless gas is like 20-30 and i dont think its gonna get there anytime soon

[final steppe]

Oh no! Well the only way to get it staked with a higher token weight/locked period would be to withdraw, and then restake with the new token weight.

[nova violet]

that's what i thought, well had to ask, was hoping there was a way :c thanks for the quick reply tho

[wind axle]

everything is going growing.

[mint pier]

Hello to the best community I have a small problem and I would like to ask for your opinion what is the best way to buy eth and swap it to ilv with paying the less fees as possible

1. witch wallet is the best to do that ? If someone can assist me

[ruby wing]

!buy

[woven ibex]

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

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

[ruby wing]

!crypto

[woven ibex]

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

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

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

[bitter dock]

what happens when your SLP is unlocked? would you get your ILV and ETH back in the amount you invested, or would it be converted all to ILV?

[cyan rampart]

Rewards are all as ILV. You trade your SLP token back for ILV/ETH in whatever proportion the pool has balanced it to.

[bitter dock]

Is that where you could potentially lose some of your initial investment, when they refer to impermanent loss?

[cyan rampart]

Yeah, that's the main part of it. Basically if ILV spikes, the pool will swap ILV for ETH, meaning when you trade your SLP token back to ILV/ETH, you're getting LESS ILV than you put in.

IL is kind of complicated but that is the fundamental idea. I'd definitely check out some guides on IL and possibly the IL calculator which is pinned in this channel.

[bitter dock]

because your investment will get you back your ETH, and whatever amount the pool balances that ETH with ILV with? does that mean, if ILV say doubles from my initial investment, id be getting half as much ILV back?

[cyan rampart]

Assuming ETH stayed fixed at the same price, yeah, that would be pretty close to correct.

[bronze heart]

Is there a site that shows you all your stakes on one website?

[cyan rampart]

The Illuvium website should do that.

[bitter dock]

before the SLP is unlocked, does the price of ILV to ETH in anyway impact the rewards you get in ILV? or are rewards separate from the risk of the loss on investment, and you find out your loss at the end of the staking period?

[bronze heart]

not just illuvium but all ECR20 tokens

[mystic thorn]

You can find that on the illuvium website

[cyan rampart]

Oh - probably not, but I'm not sure.
You might be able to see all staking actions with Etherscan or something.

[bronze heart]

i have so many stake and yield farms its getting too confusing

[mint cave]

zapper.fi or apy.vision

apy.vision for LP specifically, zapper for aggregation

[bronze heart]

oooh awesome

[mint cave]

no need to link your wallet either, just paste your address

[bronze heart]

apy.vision seems pretty legit

[cyan rampart]

When you stake SLP, you basically own a portion of the pool. Barring the total investment into the SLP changing (which it does), you'll own the same portion of the pool regardless of what balancing goes on between ILV/ETH.

So if I staked $5k and owned .004% of the pool, I'd still own .004% of the pool if ILV doubled. So ILV/ETH prices don't really impact the NUMBER of tokens you get.

Things that DO affect the number of tokens you get are:

1. Every 2 weeks, total tokens distributed as rewards decrease by 3%.
2. Additional investment in the pool lowers your portion of the pool.

Note that if ILV's price pumps, the APY does increase, but that's not impacting the NUMBER of tokens you get as rewards, just the VALUE of the tokens you're getting as rewards.

[final steppe]

+1 for apy.vision
Love seeing the IL I've suffered from
(But seriously, it's fun to look at)

[bitter dock]

that was very well explained, much appreciated! i always thought that the APY on the staking page on their site represented the amount of tokens you are expected to receive back (factoring in the 3% decrease every 2 weeks). is that not correct? or are you referring to an APY that you would see somewhere else?

[cyan rampart]

I'm about 99% sure that the APY shown for SLP is based off the USD value of ILV token rewards compared to the USD value of your SLP tokens.

[bitter dock]

Ahh I see what you mean by the APY increasing if ILV pumps then. How would one calculate how much ILV they'd be expected to receive in a year (or however long they've staked their SLP for)?

[cyan rampart]

I don't think you could exactly calculate that unless you knew how much additional investment to expect in the pools at what time.
There are legit too many factors for me to even napkin math an answer - decreasing token supply and potential for the pool size to change dramatically.

[elder dawn]

I just updated my calculator to try to better estimate future ILV rewards, but as Blickter said, pool population is the biggest unknown factor there. We have a prediction for that term built in based on recent trends, but its tough to know what will happen in the future as awareness rises. The calculator is pinned (cooper's message) if you want to try it out.

[covert sage]

Has anyone taken out sILV?

[normal umbra]

turns out it's not worth it to stake in a flash pool for a few hundred dollars particularly when you don't look to see the last block will be reached the next day >.<

there's no way to compound the reward with other pools or to process its withdrawal at the same time as the token being staked eh

[mystic thorn]

And you are not able to lock flash pools

[covert sage]

So when I claimed my ILV. From staking it’s locked up for additional 12 months. So I get 80% staking while waiting on that.

[manic spindle]

Claimed ILV rewards that are vesting do compound, yes. They farm even more rewards for you while being locked 🙂

[final steppe]

Yes, people have! You can see the minted sILV here https://etherscan.io/token/0x398aea1c9ceb7de800284bb399a15e0efe5a9ec2
Almost 8500 sILV claimed so far

[spiral summit]

Question, ILV rewards go up with the price ? For example if I had .5 in ilv awards, and it’s worth $250, will that 250 go up with the ilv after it’s claimed, if that makes sense 🤣

[covert sage]

So you can pick between. Ilv and sILV if you picked ilv first

[bitter dock]

makes sense - i guess it wouldnt be possible to predict the pool size a year from now. thanks for letting me know! this clears up a lot for me

[final steppe]

Yes, your ILV will be whatever the current price of the token is at that moment.
If ILV is $500, you claim .5 ILV for $250, and a year from now ILV price is $2000...that .5 ILV you claimed would be worth $1000.
Hope that answers your question 😄

[bitter dock]

will take a look, thank you!

[spiral summit]

Thank you!

[brisk surge]

okay I thought thats how that worked but needed that clarification thanks

[final steppe]

Not sure I understand this question, I apologize!
So to begin yield farming, you must first purchase ILV and then you choose to stake it in one of the core pools to start earning rewards.
When you go to claim your rewards, yeah, you get to choose between claiming ILV or sILV tokens 🙂

[covert sage]

Even in the SLP farm

[final steppe]

Yup! All of the pools (ILV, Sushi LP, and Flash) allow you to choose between ILV or sILV when you claim rewards 🙂 It would look like this:

[covert sage]

So you take a big hit in price if you talk sILV

[wheat grotto]

MetaMask is not an option on the mobile sushi swap has anyone else had that problem? I just sent my coinbase portfolio to MetaMask and one of the wallets I can connect to on sushi swap is coinbase walled 😂

[ripe steppe]

If you chose to receive your first reward as ILV, the next time you choose to claim rewards, once more you can choose between ILV and sILV, this choice is never taken away from you, regardless of what you choose

[wheat grotto]

Which is more beneficial do you think

[ripe steppe]

If you choose sILV, it is unlocked immediately and you cannot continue to stake in and compound it that is correct, but you can use it immediately to buy land or for in game without needing to wait for it to unlock

[ripe steppe]

Depends on your circumstances and preferences,

[wheat grotto]

It’s so much to take in

[brisk surge]

yeah there is a lot of info but you have plenty of time to learn most of it before the game releases

[wheat grotto]

Just followed the tutorial to send to meta mask to buy ILV through sushiswap and MetaMask isn’t there to connect to 😅

Simple stuff noobs can’t get to grips with

[ripe steppe]

Claiming ILV compounds so you get more long term value, and you can buy the land and in game stuff with ETH so there is no need to claim sILV (but if you have staked everything you ever want to put in the game but also want to buy land and for in game, then claiming some sILV is an option) (nothing i say is financial advice, i do not know your personal circumstances, you must consider those yourself)

[elder dawn]

take your time. depending on your stake, gas will be a huge factor as well. think about which you want more - future compounding interest, or money to spend in-game. If it's in-game value and sILV, remember there's nothing to spend it on until November at the earliest, and the main game doesn't release until 2022 now. If it's ILV, make sure the value you claim is big enough to make compounding worth it relative to gas fees.

[wheat grotto]

I wanna get in early before the prices rocket it’s going up every day lol I have half the amount of 1 token to invest for now but I’m struggling to figure that out I guess I’ll try on the desktop tomorrow I don’t think mobile is the best way to go

[elder dawn]

make sure you account for gas fees - if you're saying you have ~$300 to invest and don't have ILV yet, you will need to pay a swap fee to get ILV (at current gas ~$50), and then you'll need to stake it on Illuvium.io, and that will likely be even more in gas. Waiting for low gas at that level of investment is critical, as if you did it today, I estimate at best you'd be able to stake $150 of ILV. Your daily interest at that level would be ~$0.30 (locked for a year), and that would likely decrease over time. At current gas, it will take you literally years to recoup just your initial gas fees. Make sure you understand it before you start the process, as I'd hate for you to be part way through and run out of money due to gas.

[wheat grotto]

Man.. crazy stuff, thanks for you’re advice I’ll read up on the gas fees then

[mystic thorn]

Gas fees kill small bags the best advice is save it all up and go all in at once so you only have to pay 1 gas fee

[wheat grotto]

Yeah I think that’s best also

[mystic thorn]

So save up some more money and then go in so it makes it worth it for you

[wheat grotto]

I’ll keep building the ETH 😃

[rustic finch]

any news on if they are doing something with the website to reduce gas fees for claiming? i remember someone saying they were looking at doing something about it

[craggy ridge]

If my goal was purely to gain as much ILV tokens as possible and impermanent loss doesn’t worry me, would it make more sense to put all my stake into the SLP pool and let my reward ILV compound or would there be any benefit to putting some in the standard ILV pool?

[elder dawn]

not financial advice, but if that's your goal, the current SLP rewards greatly outpace ILV, so as of today, SLP makes more sense for you.

[covert sage]

We can use the sILV in the land sale

[surreal crater]

SLP is amazing, generates plenty of ILV that will be locked up in the standard ILV pool anyway

[elder dawn]

correct.

[craggy ridge]

Thanks, that’s what I thought, and aside from impermanent loss or obviously the token losing value over time is there any other major risk with the SLP pool over the ILV pool?

[covert sage]

The land sale will be NFT’s correct?

[elder dawn]

smart contract/pooling risk is the other big one that gets called out for SLP

[brisk surge]

They were audited by quantstamp thought so they should be pretty solid.

[elder dawn]

yeah, just always a risk - what if something crazy happens with sushi. Unknown unknowns, and all that

[brisk surge]

For sure there is even some risk with the ETH blockchain being exploited which could basically destroy all erc20 tokens.

[craggy ridge]

Yeah ok sweet, thanks for your help

[unique bear]

Yeah man, everything is paid for in Eth, so even if you calculate the Eth to remain in your wallet to pay for gas, remember that at some point in the future you'll also need some reserves of Eth to claim rewards and one day ubstake it and swap back for $ so leaving yourself short of Eth reserve can see you stuck between transactions. Defitinetly worth fully understanding it's effects

[cyan rampart]

This would be most likely after an Eth upgrade IMO. There's enough fiscal incentive that if Eth already had vulnerabilities, someone should have found and exploited them already lol
I think that's a big part of why ETH dipped a bit before 1559 went live. The phear got people.

[brisk surge]

yeah for sure

[wheat grotto]

Does anyone give an in depth explanation on YouTube with illuvium as the subject not just in general trading? It’s hard to understand

[covert sage]

We need eth 2.0 bad

[shrewd river]

Pretty much going to be late 2022 before gas gets better: https://ethereum.org/en/eth2/shard-chains/

[unique bear]

I think there's a few vids pinned in the Staking, General and Token chats that may help. There's also some spreadsheets been set up by @elder dawn and others which are extremely useful. There's definitely better advice out there than I can provide you sorry mate, but that's a good start!

[covert sage]

Is 100k USD a good amount for SLP.

[shrewd river]

That’s about 30 SLP? Should mint you ~3.5 ILV/day

[brisk surge]

bruh... rewards are still gonna be locked.

[mystic thorn]

Yes but you will not be able to touch them

[misty prairie]

Is the compound frequency for ILV/ETH - SLP staking, weekly?

[next ruin]

Rewards must be claimed to compound, this is true of all pools.

[misty prairie]

can you claim them weekly and re stake them?

[mystic thorn]

Yes but I would wait longer because of gas fees

[brisk surge]

you can but unless you have a huge bag that is generating a lot ILV it might not be worth it as you will have to pay the gas fee every time that you claim your reward

[misty prairie]

monthly is probably more reasonable?

[brisk surge]

as I dont have that many ILV to stake im going to wait a very long time to claim since gas would cost more than my reward

[icy ocean]

you can calculate it +-, you can see how much you earn per day , so you know how much you will get in month

[misty prairie]

Ok, also, if you lock in 52 weeks for the SLP for 555% APY at 2x rates, is that actually 1110%? how does that work?

[icy ocean]

555% is x2

[misty prairie]

oh i see. so that was "Up to"

[icy ocean]

when you slide bar it shows increase in APY, if you already have staked in ILV pool, it might show x2 APY right away until you go to actual pool

If you want to know more accurate amount of rewards you need before claiming it will be quite difficult and risky too as you cant predict how fast APY will fall down , but theoretically , you don't need your rewards to cover your gas price before claiming, but as I said such calculations involve more risk as you have to try to +- predict how much rewards will fall in coming months , but it would be optimal option

Also you must have fate in ILV price itself and have some assumption where it might go , as it will change a lot

[covert sage]

Bear market alts 90% retracement

[elder dawn]

the rewards are likely to fall over time, so it means claiming should mathematically slow down over time. I just shared a new version of my calculator that has a way of modeling this if you want to try it. The two biggest unknown factors remain price of ILV in the future and projected growth of the pools. My math will at a least give you a starting point that's less generic.

[brisk surge]

Hi guys, stakes my ilv in the sushi pool yesterday. Appears to have all gone through and im earning rewards but one of the transactions are still pending

approve sushi lp spend is completed but stake sushi lp is still spinning as per gas price. Can I leave this to complete or will I have to do something to correct

[covert sage]

Where did you share

[umbral crane]

google deraji illuvium and his stuff usually pops up

[ripe steppe]

If u click on @elder dawn his profile has a link to where he posts stuff

[misty prairie]

When you combine your ILV and ETH for SLP, do you end up reclaiming your original ILV and ETH or is your value solely in that SLP now?

[ripe steppe]

The rewards you earn are based on the dollar value of the SLP (which is based on the dollar value of your ETH and ILV contained within) if you ever withdraw your SLP, you can take it back to Sushi and swap it back for ETH or ILV (some of which may be reduced somewhat in total due to impermanent loss, but if you’ve been staking with a year lock in the SLP pool this should be an insignificant loss compared to the rewards you have earned over the locked period) (you can of course even after it is unlocked choose to leave it staked at 2x weight and continue earning rewards)

[silent spire]

Also, the value is on SLP and you can check your current ETH and ILV here: https://app.apy.vision/

[wide eagle]

What is the pros and cons of claiming rewards VS leaving them in SLP?

[quiet prairie]

Hi guys. in swapping eth to ILV in sushiswap i need to pay gas right? and when staking the ILV tokens another gas fees?

[icy ocean]

It is about when you claim, SLP is about ratio

[wide eagle]

im really wanting to get land and i may not want to liquidate other coins due to gas, i only started staking on both pools this weekend

[ripe steppe]

The rewards u claim are claimed in ILV, so your question actually doesnt make sense, (leaving rewards unclaimed is good if claiming the reward isnt worth the gas fee, once it is worth the gas fee leaving them unclaimed is actually you missing out on the rewards you would earn from the vesting period of your claimed rewards) (theres a helpful calculator for when you should claim rewards based on different factors, its pinned to this chat)

[icy ocean]

If you really want to get land get sILV from market , you can buy it cheaper and it is stuck at ILV price

[ripe steppe]

If you claim in sILV rewards this is immediately unlocked and can be used to buy land (also what @icy ocean said is another alternative)

[wide eagle]

market?

[ripe steppe]

https://www.dextools.io/app/ether/pair-explorer/0x13cf86f52d4a3000ca7349ce5cf107c248dfea81

[wide eagle]

those prices seem way too cheap, i dont understand how sILV coins are linked to ILV and being sold at that price??

[icy ocean]

Because they can be only used in-game and for land sale, some people just don't want to wait 12 months as all claimed ILV rewards get staked for 12 months

[cyan rampart]

The sILV for sale now is so cheap because people are claiming rewards as sILV to get them immediately, and selling them at a discount. Since there isn't a use case for sILV yet, there's no reason for them to be worth as much as ILV.

[misty prairie]

Thank you 🙂

[ripe steppe]

People selling them likely are those that invested early, bought their ILV for under $200 and want to get their initial investment in $ value back and whatevers still in there leave it to grow as a potentially free investment

[wide eagle]

ahh ok but gas though ive never used that market? also when the land sale happens the sILV will 1:1 with ILV Right?

in terms of purchase value at auction?

[ripe steppe]

100% same value as ILV in $ terms when used either in game or for Land sale yes (gas fee on that site will be about the same as buying ILV)

[icy ocean]

yes should be as sILV takes out ILV out of max ILV cap , so they are are kinda directly linked

[trim dock]

How can I withdraw my xyz since the rewards have finsihed? Doesn't seem to be a button.

[ripe steppe]

Should be, check in vesting tab or rewards tab

[mystic thorn]

vesintg ; claim

[trim dock]

Thanks!

[mystic thorn]

anytime

[maiden peak]

It says the rewards compound. I have locked for 12 months. Do I need to do anything (claim, etc) to ensure they compound? Or does it just automatically occur, like with ADA?

[mystic thorn]

they compound automatically then you can claim rewards whenever but it costs a gas fee so dont do it too oftne

[wide eagle]

thanks a ton, just hope they can allow hybrid pay on auction day, just wish i knew what tier 2 and 3 land was gonna go for so i can save for it

[brisk surge]

dont we all, honestly cant wait to see what price the tier 5 lands are going to go for its going to be crazy.

[ripe steppe]

for them to compound u need to claim the rewards for them to also be earning APY, but as for how often u need to claim them depends on how much u have staked, the APY and the gas fees (its kinda complicated, luckily we have an easy to use calculator for this pinned to this chat)

[icy ocean]

depends on marketing , still long time till that though, I expect some interesting action starting mid November

[ripe steppe]

hybrid pay has not been confirmed and not be available, we shall see and likely closer to the time it will be confirmed

[wide eagle]

watch EA, ESPN or Netflix buy it, im just happy with tier 2 but a prize for me is 3

[quiet prairie]

I cant stake with this gas fees. /cry

[ripe steppe]

please stop answering questions with answers that leave the questions unanswered (and may actually add confusion) (seen this multiple times from you over the last two days and cant not say anything anymore tbh)

[ripe steppe]

half of what is is rn lol is about as low as it goes these days even if ur lucky

[quiet prairie]

I left about a 110 USD thinking that it was enough for the gas fees. but when i tried to stake the gas fees were about 212 usd.

[brisk surge]

yeah lemme know if you find a 110 im hopping on that lol

[ripe steppe]

yeah i've left at least 0.1 (usually even 0.15ETH) just in case, that way whatever is left over gives me plenty for future rewards claiming, good luck tho guys

[brisk surge]

ima try and hit it tonight at around 2 and see if I can get something really low. If i cant im just going to settle for the lowest hundred I can find

[gleaming brook]

Hi, is there somewhere I can read about the ratio of ETH to ILV in the SLP? What does it mean when ratio increase and vice versa etc etc. Thank you

[viscid glade]

How much does your ilv compound once it enters the vesting period?

[cyan rampart]

It's treated as ILV staked at 2x weight in the Core Pool.

[viscid glade]

Oh ok cool, thought so just double checking

Thanks

[icy ocean]

https://www.youtube.com/watch?v=GOmStHzPLME&ab_channel=CryptoTube , This is better

[terse nest]

Once I stake ILV does the APY percentage get locked in for that time period or does it fluctuate? I have heard both and just trying to clarify.

[umbral crane]

fluctuates, typically goes down over time

[terse nest]

Got it. Thanks.

[eager rover]

Havent seen 60 gwei in a long time

[mystic thorn]

and im fearing we never will until eth 2.0

[gleaming brook]

Thank you. Finally I got a better understanding of IL.

[exotic igloo]

Its rough

[gloomy gazelle]

https://tenor.com/view/dk-nintendo-donkey-kong-gif-14006103

Imma need more ETH.

https://tenor.com/view/dramatic-cry-will-ferrell-gif-13298637

[dense vessel]

hello is it advisable to stake 1 ILV for a yr or more? cuz thats all i could afford rn lmao

[gloomy gazelle]

Maybe. Gas fees are rough.

[dense vessel]

true, thats why i plan on staking like really long term so that its a one time gas fee only

[gloomy gazelle]

You will have transaction fees for the deposit. And later one for claim. And one for withdraw. And one more for withdrawal of rewards.

But if it’s a long term plan. Just deposit and come back after ETH 2.0. You should be ok.

[dense vessel]

thanks i’ll note that down

[gloomy gazelle]

!Staking

[woven ibex]

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

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

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

[gaunt widget]

it's been in my head now my fist wanna punch something. illuvium is showering us rewards while ETH is like the govt TAXing out of it. imagine ive stake at SOL from exchange to end with < 4 usd. damn ilv could have been better

[gloomy gazelle]

The second half of the video may prove helpful.

[gloomy gazelle]

Do you know of folks with dev skills in SOL high enough for this sort of staking on SOL? Maybe you do… but a lot of big investors would not be here if it wasn’t on ethereum.

[dense vessel]

much appreciated!

[gloomy gazelle]

https://tenor.com/view/lock-it-up-gif-10713574

If you plan on long term stake be sure to lock it up for the full term.

[brisk surge]

does gas cost more to stake than it does to just exchange eth to ILV

[gloomy gazelle]

It does.

A swap is what…like 50,000gwei limit? Staking will likely be over 200,000 gwei limit.

!gas

[woven ibex]

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

[brisk surge]

so what would you consider to be a really good gas price for staking

[gaunt widget]

bruh for this massive project. i say mass adoption have the final say not the 1% whales.

[next ruin]

Mass adoption is only needed for the game itself, which is on layer 2 (minimal fees). ILV holders / stakers should be able to see the value.

[gloomy gazelle]

I don’t know maybe under 70 recently.

[mystic thorn]

i wish the gas prices were not so high anyone have any idea when they should go down

[gaunt widget]

i know. its just tx in eth that sucks. more like 10x fees compare to traditional banks that we wanna get rid of.

[jovial tartan]

gas fee is really killing us man

[idle elm]

Hi guys, will ILV will be in the Binance exchange in the near future?

[jovial tartan]

I hope the mechanism with Immutable X works out well

[clear cape]

How much is it costing people to claim rewards in SLP at around 70 GWEI atm ?

[jovial tartan]

70usd gas fee quoted for me. No thanks. prob would have to leave the xyz here for a while haizz

[brisk surge]

is it around 200 gas to stake ILV for you guys right now?

[icy ocean]

Don't see it happening with their system , that is why they are talking about it forever and nothing has changed , because it is simply not possible, they can probably make it bit cheaper but that is about it and it will get worse and worse

[fading kettle]

It still says I have insufficient funds when I have more than enough, what's goin on 😦

[elder dawn]

My SLP claim the other night low/mid 80s Gwei was ~$160. A week earlier at low 40s Gwei it was a little over $60, if that helps. I'd expect $120ish, though watch out, as gas keeps bouncing around the 80s

[clear cape]

Cheers deraji

[fading kettle]

nvm i just got in, amount deducted was around only $70

[icy ocean]

It is pipe dream guys , it is centralized, or high prices just for sake of being anonymous, well you still have to go trough centralized exchange if you want to change it into fiat money, or deposit

[gloomy gazelle]

This is #🥩〕staking channel not #💩fud

https://tenor.com/view/john-jonah-jameson-lol-laughing-hysterically-laughing-out-loud-funny-gif-17710543

[gaunt widget]

just to be clear. i'm just stating the facts here. i'm all in and locked.

[gloomy gazelle]

I get it. No worries man.

[halcyon sage]

How do I unstake from the flash sale? just claim rewards?

[gloomy gazelle]

It’ll be two transactions. Claim. Withdraw. You could do just one of them. And wait for the other.

[next ruin]

Check your "Vesting" tab

[hexed roost]

Looks like Tues AEST is the new ideal gas day, yesterday was a frustration, first time I have ever had transactions fail cost me a packet 😠

[marsh oyster]

a part of in game purchase go to stakers but this part is in the 70 % of staking reward ?

[narrow sentinel]

Gas fees are nuts right now. Im trying to start staking with a small budget and im getting eaten alive. To stake $90usd of ETH/ILV theres a $110 gas fee... lmao. To stake $300usd-ETH/ilv, another $120 in gas. Ouch.
Is it better to save up a bigger chunk of money and stake it all at once?
Or is there a cheaper alternative available?

[obsidian lava]

Hello, can anyone help me. I dont know how to withdrawal my XYZ

I check vesting and it says receive my yield first to withdraw your xyz.
I click rewards and i claim my xyz reward into Ilv or Silv. when i click the Silv the purple button turns very dark
but nothing happens...
Then i go back to vesting and check and i still cannot receive my xyz

someone please help this was my first flash pool i just want to know what im doing wrong.

does it cost Eth to claim and then eth again to withdraw back to my wallet? then eth again to swap it back into eth?

[brazen ice]

After staking I see there's 2 options to withdraw rewards. ILV and sILV. Once you choose one are you fixed to that option or can you claim rewards and switch it up depending what you want? Eg. 3 months of ILV then 3 months of sILV.

[gloomy gazelle]

Definitely save up for a bigger deposit.

[gloomy gazelle]

You claim only what you have earned so far. You get to choose what to claim your rewards as each time that you claim.

[vital kayak]

Just checkin in, reading a few comments. If you’re claiming once a week, you’re doin it wrong. Just a suggestion

[vital kayak]

$80-130 US

“TIMES 2”. Once for claim, once for staking

[timid patio]

question how often should one be claiming rewards

[vital kayak]

Personal decision. Kieran suggested every 2 or so weeks. Our plan: We are holding until land, then will claim monthly.

Clarifying: sILV til land offering *

[timid patio]

ohhh okay so when they launch beta you reckon its probs best to claim once a month

[vital kayak]

Yeah every 3 or 4 weeks. We want to save gas but also want that new ILV rewards to be restaked. Remember: unlike sILV rewards that are available for in game use immediately after claiming, ILV rewards are locked 12 mos

https://tenor.com/view/oh-my-it-is-so-beautiful-amazed-gif-19543022

[timid patio]

ohhh okay thank you for the info 🙂

[vital kayak]

🔮

[tulip plank]

HI evreyone, any suggestions for staking atm, as Gas fees are crazy. I have a bit under 1 ILV

[manic spindle]

I'd wait personally. Gas fees are quite high and it's debatable whether or not you would get enough out of it. There is a proposal coming soon as well that might change staking a bit, so maybe even wait for that to see what is included and how soon it would be implemented in case of an approval 🙂

[umbral lava]

Yeah. I'm trying to withdraw XYZ from the flash pool, but gas fees are like 250$

Though XYZ price dropped a bit, so I'm HODLing it anyways

[tulip plank]

Great Thanks for the update, I will wait its definitely better than loosing in gas fees 🙂

[hexed roost]

https://tenor.com/view/vitalik-gif-21354236

Am dying to see this proposal am claiming weekly and would rather get SLP than giving gas money to Vitalek

[torpid arrow]

Proposal in terms of fees or vesting ? Or all TBD

[wheat grotto]

Can anyone explain what figure we’re looking at when we look at gas prices is it the cost of erc20?

[granite halo]

Even if there is a a proposal, the currently staked portions can't be changed though right?
Staking V2 was supposed to be out this/next month but it seems like it disappeared from the roadmap?

(Not a smart contract expert)

[silver nebula]

Am I right in saying the XYZ pool was a flaming pile of dog$H17?
I invested approx. 3,700USD in from beginning to end, and the gas fees on depositing and withdrawing are higher than the returns (0.49ILV)
On top of that the coin lost 50% of it's value...

[granite halo]

Can't say anything about losing on XYZ, but that .5 ILV will be worth 500~700 in a few months.

[manic spindle]

I don't know what the proposal will include, sorry 🙂

[brisk surge]

Hi i have just started with staking my tokens and also LP with sushi swap. On my dashboard i have one box saying
'rewards, total pending rewards 0.17 ILV $87.88
then to the left i have another box saying
' your ILV balance $41.11

ive listened to a few videos and read the staking guide but am sttill confused. Can anyone explain for me please

[manic spindle]

!claim You have to claim rewards for them to be vested or transferred to your wallet as sILV 🙂

[woven ibex]

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

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

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

[brisk surge]

No you just bought the top on XYZ, cant blame ILV for that.

[inner estuary]

Hey team, if somebody is looking to invest $2k AUD (approx $1,520), would you recommend staking in the Sushi LP, or ILV pool?

If he was in the Sushi LP, his investment would be $1k ILV & $1k ETH

[cunning perch]

It's a personal decision really. Just make sure you know IL and the fact that you will always pay 2 gas for claiming rewards.

[eager blade]

two transactions to unstake ilv is brutal. Areed the structure of this flash pool makes this a losing deal. Disappointed i went in. Learning lesson

[open steeple]

for small investers it seems like so, the fees are gonna destroy small investments

[eager blade]

to be fair. just claimed silv and my xyz was unlocked. One transaction. Is silv supposed to show in my wallet?

[open steeple]

not sure if only apeears on the site for now, someone can confirm it for you

[polar nest]

what's the best order to claim rewards and how does it work

[wind walrus]

Depends how big your bag is and how you wanna use your funds. You want more ILV or Silv to buy land and play game?

[polar nest]

How bout a single ilv

[wind walrus]

You have 1 ILV staked in ILV core pool?

[polar nest]

yeah

[wind walrus]

Do you want more ILV or Silv for in game currency?

[polar nest]

might do both , I just don't know what's better and what's the best order to claim since eth gas fees are high

[wind walrus]

With 1 ILV you won't be able to have both. Gas fees are your biggest issue. You are probably better off not claiming at all until the game releases (if you want Silv) or until a layer 2 solution is figured out.

[wind walrus]

There is a Staking Calculator that Dejari made pinned in this channel. It's listed under cooper's post

[polar nest]

my bad by both I meant I might do either of the two

[polar nest]

cool thanks for the help!

[wind walrus]

Np. The Devs are working on Staking 2.0. Might want to wait to see what that brings. Hopefully layer 2 for Staking contracts.

[polar nest]

ill keep that in mind

[zenith thicket]

Hi, any recommendation where to buy eth? Binance is banned here in Ontario. thank you in advance

[ember basalt]

you can buy from ShakePay, Newton

[zenith thicket]

@ember basalt can i use visa or debit? Im sorry i am new to crypto

[ember basalt]

you can use Interac

Visa Debit works I think, but Visa Credit doesn't. I usually just use ShakePay and send money via e-mail (Interac)

most banks block crypto lending, they don't want you borrowing money to pay for crypto.

[zenith thicket]

@ember basalt thank you for the info. Really appreciate it man

[wide eagle]

Is there any flow chart that explains how the reward claiming works, i get how to steak in both pools (which i have) and the gas fees involved to claim rewards, ive even used the ILV staking calculator, but here is what confuses me how does the weighted ILV that i claim work, besides the 12 month lock up per batch claimed...i know its dumb and your gonna say it goes back to the pool ya i know but this is the first time ive ever staked, so a flow chart/ simple monkey puzzle pic explaining this would help me weigh in gas fees and work out my own long term strategy to boost the compounding affect, im with Illuvium for the long haul just want to get my ducks in a row

[ember basalt]

I think you pretty much got it. After you claim, it vests for 12 months. Then after 12 months you can claim those in the Rewards page.

Once you claim, you'll see it get added to your total ILV (left panel) in the staking page.

[wide eagle]

so vesting is linked to the staking pool it came from, if you don't claim no extra compounding?

[ember basalt]

Yes, you need to claim to get the compounding benefits.

it doesn't matter where it came from, once you claim it always goes to your ILV pool

[cunning perch]

you claim ILV as rewards = It'll be locked for one year in the vesting section and will add to your stake (compound with a weight of 2X)

you claim sILV as your rewards = it'll automatically get released and will hit your wallet

[wide eagle]

how dose the ILV pool work compared to normal staking VS Sushi ? as im in both so not sure what APY pool it counts under when i claim as i will be pulling more frequently from the Sushi pool due to its performance

[cunning perch]

SLP will give you more rewards but for that you have pay 2 gas when you want to claim your rewards as you have to claim from both pools. It also runs the risk of Impermanent Loss (which I suggest you read about it properly). ILV pool on the other hand has fewer risk. The longer you lock in either pool, the more rewards you get. Also it's worth mentioning that your staked ILV in either pool will receive Revenue Distribution when starts to kick in.

!LP @wide eagle

[woven ibex]

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

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

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

[cunning perch]

Impermanent Loss is explained in the last line 👆

[wide eagle]

not to be Bos taurus but the places Illuvium are going, that ratio if i ever pull out of the pool (never) would not phase me, in the long game

[fiery spire]

Is everything okay after doing this? With this insane gas fees, I think I will only claim the rewards from the Sushi LP pool

Maybe someone from the team could clarify if it's okay to do this...

[cunning perch]

I literally didn't understand a word haha 😆

[glass ermine]

Any beginner how-to guides on staking?

[cunning perch]

!staking sure. Wish granted

[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

[fiery spire]

@midnight geyser is it ok if we cancel the first transaction (claim from ILV pool) and only accept the secon transaction (claim from Sushi LP pool)?

[glass ermine]

Perfect

[cunning perch]

Idk about that. Personally I would do all transactions fast with limit raised

[silver nebula]

I meant that there was literally no benefit in staking 3700USD worth of XYZ, as the staking benefits were 100% eaten by gas fees. i.e. you would have had to stake significantly more just to make any profit.
Also I bought at start of staking period, so very typical example I would have thought.

[wide eagle]

its the scientific name for cows, i just cant wait for the melted faces next year this time of all the FUD pushers

[fiery spire]

Well, my friend only has like 0.08 ILV to claim from the ILV pool, so I was wondering if it was okay to claim only the Sushi LP pool where he has 2.44 ILV

[open steeple]

i would like to know aswell, because the ILV rewards will never get claimed with these fees, i already have two 0.00042ILV and 0.0017ILV vesting

[brisk surge]

Finally got my stake in. Very small time investment but it's all I can spare 😅

Thanks for all the useful information people!

Very excited about this project both financially and as a (hopefully) fun to play game 😁

[cunning perch]

I don't know really, but I think claiming SLP only happens if you first claim the ILV pool rewards. That's why you have to pay 2 gas

[wind walrus]

Yep, you would have had to buy into XYZ very early and have a big bag to make the Flash Pool worth it.

[fiery spire]

Yes I know, that's why I was asking if there was a problem doing what @echo steppe did. He submitted the first transaction (claim from ILV pool) with very low gas price, submitted the second transaction (claim from Sushi LP pool) normally, and then he canceled the first transaction. Then the second transaction went through successfully. So effectively, he only claimed from the Sushi Pool.

[quiet prairie]

Do you guys know what is more heartbreaking than a breakup? When the gas fee is just 0.029754 ETH but your remaining balace is just 0.029 ETH. 😢

[fervent tapir]

Hello guys yesterday i have bought 2 ILV tokens, and want to stack them...Also interested in playing the game and would be great to buy land. Any suggestions?thanks

[mystic thorn]

that is the worst feeling in the world just wait til it drops .000754 haha

[cunning perch]

!staking for staking you can use this link. for the game gonna have to wait with all of us and be ready to ape in 😄

[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

[fervent tapir]

Is it better to stack flexible or locked?

[cunning perch]

if you plan on taking profit or selling soon, Flexible is your choice. If you need more rewards and wanna lock based on your own decisions and plans, then core pool is your choice

[hollow kelp]

Is the rewards from the SLP pool ILV?

[cunning perch]

rewards are always in form of ILV and/or sILV. you're gonna choose each time you wanna claim

[hollow kelp]

Sweet thanks. Still getting my head around liquidity pools and how they work xD

[cunning perch]

!read it's ok. feel free to read about it here

[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

[glass ermine]

Arash is epic with the ! bot calls

[fervent tapir]

I would like to so stack 1 ILV for 54 weeks, and choose as a reard sILV other 1 ILV for 54 weeks and choose as a reard ILV...but transaction's are so high atm...