🥩〕staking

[cunning perch]

haha the credit goes to ILV 🙂

[wind walrus]

So you want to stake 2 ILV total?

[fervent tapir]

Yes

[wind walrus]

Better to put them both in at the same time in the same pool and then choose which rewards you want when the fees are best to claim

[fervent tapir]

But if i dont take rewards instantly i dont get vesting bonus?

[manic spindle]

Correct. Unclaimed rewards don't compound 🙂

[hollow kelp]

So if I'm understanding this correctly, the most ideal liquidity pool scenario is:

• buy low
• see a spike (increase in volume so more trade fees)
• decrease in price closer to buying price to reduce impermanent losses
• receive yield farmed
• price spike

right @cunning perch ? xD

[wind walrus]

You only get compounding when you claim ILV. When to claim is a tough choice because of gas fees. You don't want to claim to often or fees will eat all your compounding rewards

[fervent tapir]

So guys i am so confused atm...i want to do right decision, but dont know the best way to stack...

[cunning perch]

If you provide Liquidity and lock it in SLP pool on ILV website, IL happening or not, you'll be locked out anyway 🙂

[wind walrus]

For small bags like 2 ILV it would be best to Stake ILV Core pool. Then you will need to decide when and what to claim based on needs and fees

[fervent tapir]

So i should stack now and deside what to claim later?

[cunning perch]

you stake (for example now) every blcok (15 secs) you get rewards. WHen you have enough (you know when the right time is) then you can choose what to claim

[wind walrus]

Yes, you can choose what you want as rewards each time you claim

[fervent tapir]

So i can claim jus one time after 54 weeks and get all the profit of all time?

[cunning perch]

you can claim every day. or even many times a day depending on your stake/ rewards and gas

[manic spindle]

!claim In theory, yes, but if you claim ILV at that point, it will take 12 months to unlock 🙂

[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.

[ruby topaz]

Hi. Is there any plans to use or add a different network in the future to reduce gas fees? Gas fees had been really crazy recently lol.

[hollow kelp]

Youre talking about the locked stake right? aka if i started staking today i can only release it September 2022?

and then theoretically sell/use the rewards

[wind walrus]

No, once your initial lock period of your stake expires you can choose to withdraw or leave it in to keep your 2x weight. Each time you claim rewards as ILV they are locked for 12 months from the time you claim. If you choose Silv it is unlocked and ready to use once you claim

[hollow kelp]

Oh ok. So then if i chose the 52 week locked stake (starting today) then would only be able to realise the obtained ILV September 2022 and put it in my wallet September 2023?

[wind walrus]

Sorta, say you stake today, after one month you have enough to claim. If you claim as ILV it will be locked for 12 months from that date. So in Oct 2022 that first claim will be unlocked

[manic spindle]

If you stake today and lock for a year, then whatever you locked is unlocked in 365 days but it remains staked with a token weight of 2.0 until you manually withdraw it.

When you claim ILV as yield farm rewards, those are locked for 12 months from the time of claiming (unrelated to the lock time of what you staked) and they behave the same way after unlocking when 365 days are over (=they remain staked with a token weight of 2.0 until manually withdrawn) 🙂

[hollow kelp]

Gotcha! So sorta two independent processes. What I stake has a 52 week (or whatever week I lock for) timer and the rewards start a new 52 week timer on claim. Also guessing that the locked rewards stay on the ILV site until the 52 weeks are done correct?

[brisk surge]

wow wow wow If i lock for 12 months, after 12 month i can claim my ILV but i will have them 12 month after ?!?
So if i lock now i have my reward in 2 years ?!

[manic spindle]

Yes, staked ILV in general leaves your wallet until withdrawn 🙂

[granite halo]

Is this really the case though?
Think about it. 2 ILV.

That means 2000$ worth of SLP yeah?
Without claiming once that is 5.5x 2000 = 11,000$ in Rewards at the current ILV price.

ILV core pool on the other hand would be .8 x 1000
800$ in rewards without claiming.

If you only claim 2x per year for example, even with gas, SLP seems wayyyy better?

What did I miss?

[hollow kelp]

talking about the rewards here rather than the staked ILV but I gotchu :3

[manic spindle]

!claim Yes and no. You get claimed ILV rewards unlocked after 12 months of claiming. You can claim earlier than a year but if you wait for a year to claim a single time, then yes, it will be two years until you can withdraw your ILV rewards. sILV would be unlocked right away.

[woven ibex]

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

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

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

[manic spindle]

Claimed ILV rewards are staked as well 🙂

[hollow kelp]

oh ok. But its put into a "forced" 52 week lockup stake

[wind walrus]

You're assuming he has the matching ETH. 2 ILV in only 1100. He would need another 1100 in ETH to match and gas fees to stake and claim

[manic spindle]

!silv Claimed ILV rewards, yes. Claimed sILV is transferred to your wallet directly.

[woven ibex]

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

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

[granite halo]

True, true.

[hollow kelp]

yepyep ok that makes sense

is there any plan for sILV -> ILV bridging? or forever independent haha

[granite halo]

I have 5 ILV right now and am planning to stake it in SLP so just gotta get the Eth to match, but man, i wish I could just pump everything into ILV. Will probably end up staking 2x because the amount of ILV I am losing by waiting until I get a bigger bag seems huge.

[wind walrus]

There is already a silv to ETH pair. But not an ILV to silv pair

[manic spindle]

No plans from the DAO to offer this, no. If you claim sILV you claim sILV. But you can find trade opportunities on the free market of course. Just not at a 1:1 value like sILV has within the ILV ecosystem 🙂

[granite halo]

Was hoping staking V2 would be out by the end of September, but no word on it.

[brisk surge]

I have really dont already understand.
-U can locked for 12 months in SLP. After 12 months we claim and the claim go to SLP and after again 12 months we can claim aaaaallll of ILV ???
-Or, U can claim at any moments on the form of sILV that is only use in game ?

[granite halo]

You can claim your rewards any time. Even 1 second after your first stake, but those rewards are not UNLOCKED or available to use for 1 year after you claim them.

[brisk surge]

okkkk and it cost gas to do theses claim ?

[granite halo]

The exception is sILV. You can turn your rewards into sILVand use them in game for things like land purchase even before the 1 year is up.

Everytime you claim it costs gas.

[manic spindle]

!claim Yes, every claim costs gas as mentioned in the message following here:

[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]

Is the sILV who can claim at any moment or ILV in portfolio ??? sILV come to game after 12 months after claiming too ?
In fact for YF win SLP with max gain we need to wait 2 year ? '-'

this gas we be the gas of ETH network right ? not your own system of gas ?

[granite halo]

Hmm your English is a bit hard to understand... give me a second.

[brisk surge]

my english is not good sorry..

[granite halo]

1)Do you mean in your wallet?

2)sILV can be claimed without a 12 month waiting period.

3)If your final claim is on the 12th month of your stake, then technically yes, it will take 2 years to get all of your rewards.

4)gas is all based on ETH gas prices.

[granite halo]

Don't apologize. My english is not good as well.

[shrewd river]

You also have to remember that all your ILV rewards that are locked for 1 year will gain you revdis that can be used immediately.

[brisk surge]

I 'm watching a video that is in link in FAQ of Illuvium, they tell that SLP is a high risk investissment? But i want to buy and stake a big bag i dont want to see this capital ruins by a bug of attack network or i dont know ?? what is the percentage of risk ?

and yes KamSensei i mean wallet, thank's for your answer

[hollow kelp]

@manic spindle (sorry) just confirming, rewards weighting are based on initial stake locked yea?

[brisk surge]

initial stake + rewards in ILV claimed, as rewards are automatically vested when claimed

[hollow kelp]

yep so both would hold same weight

[brisk surge]

What is revdis ?? U tell that the claim rewards after 12 months will be stake and earn to ??

[brisk surge]

yes assuming your initial stake was locked for 1 year

[hollow kelp]

well would hold the same weight regardless of 1 week or 1 year. Vested rewards would weigh 1.02 if 1 week; 2 if 1 year

[brisk surge]

your rewards are vested and locked for a year giving it a weight of 2

[shrewd river]

Any ILV you have staked, whether in the LP pool (SLP) or in any length lock-up in the straight pool will earn you ILV from the revenue distribution mechanism. 100% of game revenue goes to buying ILV on the open market and distributing it to stakers based on their weight of ILV staked.

[hollow kelp]

oh. So even if i do a flexible stake/1 week stake, the rewards will weigh 2 anyways

[shrewd river]

yes

[brisk surge]

yes, when you claim ILV rewards they are auto locked for a year

[brisk surge]

do u have a document to consulting to see the base reward in fonction or the liquidity wieght, how many ILV rewards in 1 ILV stake etc ?

[umbral crane]

#809220563397902346 message

[shrewd river]

I think you're asking how one's ILV stake is weighted in revdis? Say there are 1,000,000 ILV tokens staked and 100,000 of those are yours, you will get 10% of all revenue from the game 😛

[shrewd river]

it's all in the whitepaper

[brisk surge]

But what about the claim ILV? They are vested but what ? We can stay them ?? End if we decide to re go for 12 months staking after that u we will able to have your reward from 1st staking and at this moment u need again 12 months for next vested and claimed ILV ?

[brisk surge]

what is revdis ?

[brisk surge]

after 12 months you may choose to take them out of the core ILV pool, or leave them in and continue gaining rewards on what is staked

[brisk surge]

U can add them to your SLP stake ?

[shrewd river]

sorry i confused things by bringing up revdis O.o

[brisk surge]

to add them to your SLP stake you would need to un-vest your ILV rewards, match those ILV with ETH on the sushi website for SLP tokens, then stake that SLP in the SLP pool

[hollow kelp]

but since its vested for a year, you cant do that until a year later right?

[mystic thorn]

You cant take it out until the staking is over correct

[brisk surge]

correct

[brisk surge]

I suppose that the ILV rewards are so hard to justify that kind of staking no ??? 2years to touch your staking rewards is too loong but cool project if the quality of rewards is hot

[ruby topaz]

Is there any info on how much silv we need to play the game? I would like to claim some in silv but don’t know how much I should claim. Of course I would prefer to claim to ILV for returns but since I’m also interested in playing the game, would make sense to claim some in silv. My question is how much do I need to play the game, say, for a month. Is there some sort of a ballpark figure?

[cunning perch]

you can get a rough idea here: #💬〕general message

[ruby topaz]

Ok. Thanks so much. Will check it out.

[cunning perch]

no worries 🙂

[brisk surge]

Woooow amazing to read these clears informations but many questions ^^:
What is IMX ?
At what correspond and what function have the vault ?
Theses enormous chiffers of a 2b in day, what is the percentage of redistribution to SLP stakers

[cunning perch]

!IMX

[woven ibex]

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

[cunning perch]

RevDis will be sent to the stakes and the ILV matters for SLP stakers, not their ETH. Also for whatever questions you have regarding the vault, you can check all the mediums 🙂 and the ones in the website

!read

[woven ibex]

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

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

[brisk surge]

RevDis what is that ? Revenue Distribution ??

[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.

[brisk surge]

Htnak's!!! but really dont understand why all community telle me we need to wait 12 months after have claim ILV to really claim these and here the BOT say that rewards will be give without a fixed schedule

[cunning perch]

you will get rewards (literally every 15 secs). but to actually be able to withdraw them you need to CLAIM them. AFTER claiming, your rewards will be locked for one year (12 months) and then you can either withdraw and sell/HODL or keep them in the pool to receive RevDIs

[brisk surge]

It is so clear now, thank you!
-So you can check the amount of rewards at every time ??
-But what is the mean SLP ??? Reward 550% of ILV after stake yes but, by what process the revenue of game ecosystem are give to holders ??? U gain 550% of ILV for staking + every 15 second u have ILV being accumulate in your own vault ?

accumulate by the revenue distribution

[cunning perch]

yeah you can check the website after you stake. SLP = Sushi Liquidity Pool Token, in which you have to add ETH and ILV. For example $10 ETH + $10 ILV. It has to be equal amount. BUT it runs the risk of IL and to claim SLP, everytime you have to pay 2 gas. whatever rewards you see, you have to claim them if you want them a year later.

[brisk surge]

and the revenue distribution is give to holders by which way ???
SLP are independant from revenue distribution right ?

[surreal vortex]

Hey guys...I just staked ETH/ILV into the liquidity pool. I got a confirmation on Etherscan that the transaction was successful. When I go to my dashboard the transaction does not show up. This was about 20 minutes ago. How long does it usually take to show up in the dashboard? thx

[cunning perch]

whatever you stake, and whatever rewards you claim will receive RevDis in form of ILV. the amount depends on the total ETH spent in game and the market place. It is used to buy back ILV and then based on you TOKEN NUMBER and Weight, you get the share

[cunning perch]

You still have it in your wallet? can you see the SLP in the wallet?

[surreal vortex]

it is gone from my wallet

[cunning perch]

did you add SLP manually to your wallet? the address I mean

[granite halo]

What is the SLP pool APY at now with the crash 300? 400? Not able to check atm. Curious to see how it is affected.

[surreal vortex]

sorry...it is sitting in my wallet. thank you for helping a newbie

[cunning perch]

I closed my wallet and website. Not gonna check back unless I wanna buy/claim 🙂

[cunning perch]

No worries. You have approved it on the website. Now you can stake

[granite halo]

Be honest. You want to buy :)

That sub 500 ILV looking juicyyy

[cunning perch]

ofc. need money for that. Unfortunately I need my $ for some bureaucracy stuff in the country. After that, all will go to ILV 😄

[granite halo]

Same. Don't get paid until the 24th and by then, probably gonna be up to 600.

[crystal coral]

Question, I have 2.27 ILV rewards from staking ILV and 15.52 ILV rewards from Sushi LP. Should I be claiming these and restaking or does it reallocate on it's own? Any advice would be greatly appreciated

[cunning perch]

well. This is ILV we're talking about. Dips are short-lived haha. Would love to buy more as well

[cunning perch]

if you want them to compound, then you have to claim them. Watch out for the gas

[crystal coral]

Ok, I should probably claim ILV instead of sILV at this point since the game isn't until Q1 now, right? Also, could I use this staked ILV to make a land purchase possibly?

[cunning perch]

if you plan on joining the land sale, you might wanna devise a plan. If not, then claiming sILV atm makes no sense since it has no use case. You cannot use ILV for anything. If you wanna join Land Sale, then you gotta use ETH or sILV.

[crystal coral]

I appreciate your help, any idea when the land sale will be?

[cunning perch]

sure. It'll be late October or early November. The exact date is yet to be released 🙂

[crystal coral]

Thank you sir, have a great day

[cunning perch]

u 2 brother 🙂

[brisk surge]

Hello, with how many ILV invest in staking to have 15.5 ILV rewards froms Sushi LP and since how many times, i dont find theses informations. Thank you !!

[ruby topaz]

Ok I’ve gone through it. I’m not super good with calculations and maybe not familiar with all the features and mechanism yet, but can u safely assume that if all im doing is traveling to p2e areas and curing shards, 1 silv should last me for at least 2-3 months depending on how often I play? Since illumidex and wager uses eth and not silv so silv will mostly be used just from traveling and curing right?

Also another question, how much eth or silv should I prepare if I am interested in the land sale?

[cunning perch]

Yeah. But it also depends in the price of silver as the prices in game are pegged to $. So you have to (for example) pay $10 in sILV. Now, how much it'll be by the game launch? Nobody knows. So it's all speculation by now.

[cunning perch]

The also is not clear. The exact prices are not out yet. It'll be done through a Dutch Auction.

[umbral crane]

whats apy rn with all this selling

[ruby topaz]

Ok. But the fees will always be in dollars right? So basically whatever equivalent of the dollar amount in Silv?

And about land sale, noted. Hope they will announce at least the starting price of each piece of land so I can prepare the minimum amount I need to at least get 1 piece of land hahaha. Thanks again.

[cunning perch]

Yea everything will be in $ paid as sILV and or ETH. sILV gets burned and reduces the total ILV supply and ETH will generate Revenue.

Yeah. Everything will be clear about the land sale before it goes live 🙂

[ruby topaz]

Great! Always a good help. Except the time when someone impersonate you and send me a dm asking me to verify my metamask wallet lol. Almost got scammed by that fake Arash lol.

[cunning perch]

Haha. I will never DM you. Never ever ever ever 🙂

[surreal vortex]

i've got some slp staked in the liquidity pool. how do i know if there is any impermanent loss? does the apy go down? thx

[ruby topaz]

Yah. That’s what made me suspicious. Otherwise that guy was pretty good. Very polite and helpful. Didn’t even hard sell the link lol.

[cunning perch]

I believe you can check the pinned messages for calculators. There should be something there

[cunning perch]

Scammer always are. So, be very careful. No mod or Dev will ever DM you. Lots of ppl DM me first and I can help them in order not to cause congestion, but I will never DM. This is not the way. 🙂

[crystal coral]

I staked 3.27 Sushi LP for one year. It gives 540% apy. I have 323 days remaining of staking. I have made 15.5 ILV in rewards in 44 days.

[wind walrus]

Try https://analytics.sushi.com/pairs/0x6a091a3406e0073c3cd6340122143009adac0eda

[hollow kelp]

How much is 3.27 sushi lp?

[manic spindle]

APY is a dynamic value but the token weight is static, meaning that you keep the token weight from the time of staking until you withdraw that stake again, yes.

[wind walrus]

About 9k

[hollow kelp]

Just calculated as you said that hahaha thanks

[surreal vortex]

thank you!

[brisk surge]

Thank's for the answer bro! but whaaaat 15.5 ILV in 44 days insane!!

[brisk surge]

?? how it can be about 9k ?? an ETH cost 3k5 x3 = 10k5 + 10k5 of ILV ?? At this price the cost is 21k no ?

[wind walrus]

3.25 SLP doesn't mean 3.25 ETH and 3.25 ILV.

[brisk surge]

it mean 10k in ETH and 10k in ILV

[wind walrus]

No

[brisk surge]

i listen to you 🙂

[sinful pond]

Price of one SLP is here: https://etherscan.io/token/0x6a091a3406e0073c3cd6340122143009adac0eda

[brisk surge]

thank you guys!!

[brisk surge]

in 24 months u will have 125 ILV, if ILV have capitalisation of AXS now in 2024 bull run the ILV will value at 7500 dollars x 125 = 1m great job

[wind walrus]

Not exactly. The APY will drop over time

[brisk surge]

A little question about please the revenue distribution, the co fondator have mad a modelisation on how many cash will flow in game but how holders are remunerated ?? by a transaction on every theses transactions in game ?
About this post : #💬〕general message

Faultycircuit: Drop over and over or just fluctuate ?

[crystal coral]

Agreed!! It is my favorite thing to look at everyday haha

[wind walrus]

Drop. The APY will drop 3% every two weeks. It will also drop as more money is added to the pool.

[crystal coral]

That would be amazing! Also, I get to play a freaking awesome game and make more money while doing it!!

[manic spindle]

That is not correct because in 24 months there will be a lot more ILV tokens on the market, so in order to have a 7.5k token price then, we would need a market cap a lot higher than what AXS has reached so far 🙂

[crystal coral]

I’ve applied for beta a month or so ago but haven’t heard anything back. Is that normal? Do stackers have enhanced chances?

Stakers*

[manic spindle]

Last message in #795444126421483520 that is the current status (and no, the form is not out yet) 🙂

[crystal coral]

Thanks for your reply 👍

[brisk surge]

Can u explicite please ?? because i doubt i will SLP lock or not

[manic spindle]

!read Starting end of march 2022 tokens for Seed and Team will begin to unlock daily, so the circulating supply of ILV will increase 🙂 Please read the following articles/documents for more info on that:

[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

[lean crown]

what is the gas fee to stake atm?

[dusk minnow]

It's probably like $100 per transaction. You'll need 3 Transactions to stake SLP and 2 to stake ILV if you don't already have the ILV

[brisk surge]

will it just keep dropping until it gets to zero?

[manic spindle]

Yes. Yield farm rewards are limited to three years in total 🙂

[next ruin]

Yeah, YF rewards end after three years. By that time, RevDis will have fully kicked in, obv.

[craggy field]

If you lock for 12 months, will you need to take back your investment after 12 months to re-lock them? Or will they remain at 2x token value in the pool? Also how are bots determined for the NFT giveaways?

[brisk surge]

ah yeah i guess that is true

[manic spindle]

They remain staked and unlocked while keeping the token weight from locking 🙂

[craggy field]

Also congrats on your last week at work :P

[brisk surge]

So they are cumulate in core pool ?

[brisk surge]

so can you re-lock then again in order to not have to pay a gas fee

[craggy field]

You dont have to re-lock them apparently because they retain their extra value from when you initially locked them.

[wind walrus]

You don't need to. just don't pull them out and everything stays the same

[brisk surge]

ah okay thanks

[manic spindle]

Locking has nothing to do with gas fees. If you stake something for 12 months locked then it costs you gas fees when you do that staking transaction. You don't suddenly need to pay GAS when the tokens unlock after 12 months. They remain staked and farm RevDis/Yield Farm rewards just like before with a token weight of 2.0. Further gas fees after depositing something only come from either claiming rewards, staking even more or withdrawing something again 🙂

[brisk surge]

but theses ILV dont work for us

[wind walrus]

We are talking about the original Staked ILV/SLP not the rewards

[brisk surge]

ah yes me i think to ILV in rewards, they dont work for us no ?

[brisk surge]

ah okay because i was switching between locked and unlocked to see if their was a difference in price and it was like 20 bucks so I didnt know if it would cost more to lock them again

[mighty bolt]

It all is kind of hard to follow. Just when i think i got it…..I don’t lol

[wind walrus]

Rewards don't compound until you claim them

[brisk surge]

yeah same always something new to learn

[mighty bolt]

Claim is vesting right? But when i vest it takes an additional 12 month to get? if i read that right

[brisk surge]

yees but once u claim your first 12 months rewards staking, u dont touch to the SLP but theses ILV rewards dont work for us in 1 one year ? before we collect us ?

[wind walrus]

If you claim ILV

[lean crown]

can someone dumb it down down for me...what does 2* token weight even mean😐

[mighty bolt]

I had to read and re-read the white paper multiple times.

[wind walrus]

It means you get double RevDis per token

[lean crown]

sorry for the retarded questions 🥲

[next ruin]

When you claim rewards in ILV they lock (vesting) for 12 months. Those claimed rewards earn rewards in the core pool during that time. After 12 months you are free to remove them.

[manic spindle]

!claim only claimed ILV needs a 12 months vesting period. sILV does not 🙂

[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]

These ILV are just vested, we cant stake them ?

[next ruin]

They are essentially staked in the core ILV-only pool

[manic spindle]

It literally says this in the shared messages:

"- 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"

🙂

[brisk surge]

Cool thank's

[mighty bolt]

Two questions on this.

1. Is it worth holding ILV even after the staking is done with?
2. if i end my staking now and start to vest, do i get back all the original staking right away, and can I re-stake (at this time) with the original ILV and add additional

Part 2 is if it is worth the gas of course. Because i would like to stake more in about 3 weeks(i started staking overlooking the you can’t add part for 365 day 😔)

Ah….i see lol yeah this makes me feel dumb at times lol. Like do i understand words? Haha

[next ruin]

1. You can always stake and it will be required to get a portion of RevDis. 2) If you have staked without a time lock, you can pull that initial amount out at any time, only claimed rewards will be locked for 12 months. You could then re-stake that initial ILV as desired - you could also just add a new stake on top, no need to pull out and re-stake unless you want to lock in for a time.

[mighty bolt]

That last part is confusing. It gave me a warning that I need to claim rewards, so what your saying is:

I could claim those rewards, the ILV stays staked and i can just add it to. Correct?

[wind walrus]

If you are adding more to the pool then don't manually claim rewards. When you add more it will claim them automatically

[next ruin]

Correct. Any time you interact with staking contracts in any way it will require you to claim pending rewards. Just the way it is set up. But yeah, don't manually claim first - it will happen as part of the overall transaction - if you do it manually you double up.

[manic spindle]

Withdrawing something or depositing another stake always requires to claim rewards. This is done WITHIN the same transaction, not manually under "Rewards" 🙂

[mighty bolt]

It forces you to claim to add more. It’s in the white papers i just over looked it(my excitement took over when i found out about this game via tik tok 🤓)

Sweet. Y’all are the bomb dot com

[next ruin]

https://tenor.com/view/no-u-keanu-reeves-no-you-you-pointing-gif-16078064

[wind walrus]

Correct, but if you manually claim first before adding more to pool it will force you to do it again.

[brisk surge]

Re, last question: You told me that the price could never be higher because the circulation of tokens will increase little by little. I saw that there was an excellent system to strengthen the currency and always push it up but if at the same time the circulating supply increases it will not only stabilize?

[manic spindle]

I never said the price could never go higher. I said that a token price of 7.5k for ILV in 24 months would not mean we've reached AXS market cap. This would be the case now with the current circulating supply. In two years we don't have 635k ILV on the market but a lot more, so in order to have a 7.5k token price at that time, market cap would need to be much higher than AXS right now

For more about token price, supply etc. please use #💰〕token thanks 🙂

[brisk surge]

What is the time unity in " 20,40,60,80". weeks ?

[wheat grotto]

I think all the signs are pointing to me not to buy ILV today.. coinbase is down.. needed to verify myself on Binance and my card ended up blocking itself 😓 the markets down would of been a great time to buy

[modern mulch]

Gas at 7k? loooooool 😂

[mystic thorn]

I know I think it’s an all time high rn

[modern mulch]

crazy day

[mystic thorn]

I’m hoping nobody that is new to all of this and decided to buy it thinking 5k $ is normal

[umbral lava]

UHHHH

[modern mulch]

cheap compared to the price 10 min ago 😂

[mystic thorn]

10 minutes ago it was 7k 😅

[umbral lava]

Maybe that's the ETH network master plan. Have gas fees so high that a few k $ shouldn't be expensive in anyone's eyes

I guess many people are taking advantage of discounted tokens from recent crash

[mystic thorn]

We will never be able to get used to it though that’s just too high

[umbral lava]

Wanted to grab some more ILV, but I guess it can wait 🤣

[mystic thorn]

Ya now is a perfect time because of the price of ilv but also worst because of gas

[umbral lava]

Yeah, it's better to buy it at high price and with lower gas at this point 😂

[mystic thorn]

5k is just not worth it imo😅 I mean unless you are a whale

[umbral lava]

Though I think I can grab ILV on Gate.io without the high fees 👀 And transfer later

[mystic thorn]

How does that work? All app have high gas fees expect gate.io? Why is that

[umbral lava]

Gate.io is a CEX, you don't trade on ETH network directly (neither you technically own the tokens)

[mystic thorn]

Oh so it is not approved by ilv then?

[umbral lava]

It definitely is

[mystic thorn]

Hmm I don’t understand? Then why would there be no gas fee

[umbral lava]

It works pretty much the same way as Binance, if you used that or any other CEX

[mystic thorn]

Ohhh ok I think I got you now thank you

[umbral lava]

It only has maker/taker fees which are like 0,3%

[cyan rapids]

just 2 months ago 30-40 usd gas was high lol

[umbral lava]

Yeah, now we'd kill to have that gas 🤣

[misty prairie]

Does anyone have any ideas what the yields would look like if you staked $2.5k worth of ILV along with $2.5k worth of ETH for the SLP stake at the 12 month lock in reward of 555% APY?

[brisk surge]

The APY is variable so no way to know for sure.

[umbral lava]

Yeah, just a few weeks ago it was over 700%

[mystic thorn]

its just gonna keep dropping most likely

[dusk minnow]

Super High profile NFT mint happened at 12:00pm PST. That's the reason for the huge gas spike

[brisk surge]

a guy this after noon have collected 15,5 ILV in 44 days for locking 12 months 3,27 SLP

[umbral lava]

It depends on how many stakers join and the share of their pool

[silver sky]

What was if

[dusk minnow]

The sevens

[wheat grotto]

I transferred 250 into gate io you think it’s worth buying ILV right now while there’s a small crash?

[umbral lava]

That's up to you when you want to buy, I'm not a financial advisor

[misty prairie]

15,5 and 3,27? I don’t understand those comma placements

[brisk surge]

i dont understand too x)

[misty prairie]

Is that 155 and 327 or 1550 and 3720?

[brisk surge]

?? "15,5 ILV in 44 days for locking 12 months 3,27 SLP"

[misty prairie]

15.5 and 3.27? Are those commas supposed to be points?

[umbral lava]

I don't think it makes sense for it to be a thousands separator. Comma is used as a decimal point in Europe and many other countries anyway.

[misty prairie]

But that still leaves 2 other options lol. It could also be 155 and 327 or it could be 15.5 and 3.27

[umbral lava]

What would be the point of them if they were to be ignored then?

[misty prairie]

I’m just hoping to clarify. It’s a lot of money to be uncertain about. Thanks

[untold ravine]

15.5 ilv in 44 days with just 3.27 ilv locked? Isn't that too much of a return?

[misty prairie]

I think it’s 3.27 SLP which is a combination of ILV and ETH. But I also don’t know how much 1 SLP is..

[umbral lava]

Not really. It'd be about 8-9k $ I think

[untold ravine]

Oh my bad saw it wrongly

[cyan rapids]

bought the dip and staked more

[umbral lava]

Same

[cyan rapids]

i mean i staked 2 months ago for like 5 months so i might as well restake now for 1 year and pull out the old one in a couple of months since yield is lower, or i can restake it

[ripe steppe]

@umbral lava you guys are winning, good move (got a feeling a bunch of people that said they were waiting for a dip lol will literally be like uh-uh what if it goes lower, ill wait a bit more lol - some people just wanna buy $1k ILV, its is what it is)

[umbral lava]

Yup, perfect moment is really hard to grab. As long as I'm within the 10% of the top/bottom, I'm happy

[ripe steppe]

attitude to be emulated, trying to time perfect bottom is something you'll manage 1 in 100 and lose money on the other 99 tries lol

[umbral lava]

Exactly!

[cyan rapids]

well i was tempted to wait until tomorrow see if correction continues, but idk i just wana get it over with, you know waiting for the exact moment is hard and the market is impossible to predict, just done staking my axie profits earlier now ill just pray lol

[ripe steppe]

pray, look away, looking back in a month ur decision will have been chill (by end of year even more so lol)

[cyan rapids]

well i plan on claiming rewards every month or so on sunday when gas is low-ish

i staked a bunch of raydium/polis lp from star atlas but im most confident in ILV so i felt i had to get in more on the dip

[cyan rampart]

I think a big part of the "correction" today was people having their leveraged positions sold off. Big fast snowballs corrections like that aren't just people selling, it's automated selling of leveraged positions.

NFA and stuff, but I think we're through it - anyone heavily leveraged is already sold off.

[cyan rapids]

yea saw some people say its those margin traders getting burned that caused the big dump

[cyan rampart]

Yup, less than 2 hours for most crypto to drop 20% - the market is reactive but its not THAT reactive. Normal corrections tend to take longer.

[cyan rapids]

i read somewhere that exchanges that allow like 100x leverage is where most of the selloff is from

[ripe steppe]

was a buy the rumour sell the news, some big whales trying to manipulate the BTC price (which reacted with everything else) cos its literally today the day that BTC is legal tender in El-Salvador, and so everyones expecting it to go up from that, people leverage themselves ridiculously, then a few whales selling liquids loads of people then those same whales just buy back at the bottom of that crash lol

[cyan rampart]

Definitely, I think we're into #💰〕token territory, but just like individual investors like to fuck with big investment firms (see: WSB), the opposite exists as well. Some intelligent institutional investors likely saw the leverage trends, amassed some capital, sold off high and bought again immediately after they'd created a liquidation event.

There's a lot of power with having substantial capital, as there is in traditional markets.

[umbral lava]

More than 1,1b in leverages liquidated lol

[wheat grotto]

I thought if you staked for a year you had to wait a year to get the rewards am I wrong?

[untold ravine]

Depends whether locked or flexi. His case most possibly flexi

[next ruin]

When you claim pending rewards they vest for one year in the ILV only pool and compound your earnings. All claimed ILV will be locked for a year no matter whether you locked in your initial stake. sILV can be claimed unlocked at any time.

[wheat grotto]

Okay thanks for your help both.. another question is.. I’ve just transferred my investment to gate.io and placed and order for ILV it’s a limit order but I set it to what the current price is however it’s still processing I thought it would be instant?

[cyan rampart]

Probably a better question for Gate.io community - While there might be people here who use gate.io, it's definitely not officially supported.

[wheat grotto]

I think the order has been processed.. It’s in my account now it’s funny because I don’t have a clue what I’m doing 😂 thanks for your help though

[ripe steppe]

what matter is u got the ILV, nice!!!!

[slow anchor]

So to have access to my XYZ tokens that I staked in the flash pool, I need to claim my ILV tokens first? But the eth gas fees are crazy high, Is there anyways around this? Can I use polygon to claim my tokens? The gas fees are almost more than I am from the stake

[wheat grotto]

This is true my friend! Just a matter of getting it back into MetaMask keep it nice and safe. Think I’ll stake it when the gas prices lower then 😄

[ripe steppe]

no work around as far as im aware beyond waiting for lower gas fees or waiting on ETH 2.0

[slow anchor]

So bridge to polygon doesnt work? I'm new to using layer 2 still trying to wrap my head around it

[ripe steppe]

unfortunately a lot of people staked amounts of XYZ and other flash pools that would earn them an amount of ILV that actually isnt worth the gas fees (as for polygon, no clue, but what i do know is you can only claim from the wallet u staked with, likely a metamask, hence no workaround for fees)

[slow anchor]

well thats sucks wish I had known that before hand should have done more research

[ripe steppe]

indeed... before staking this should have been considered, the APY was known when u staked, and the amount of ILV you would have earned could also have been calculated and whether it was worth it, were learning here though in this space, theres a lot to learn, but all experience is good experience

[slow anchor]

that i ill knew I just didnt know you could access the staking token without claiming first

[ripe steppe]

im sure had you asked on the discord they would have explained, but live and learn, its an easy mistake to make to be fair (i certainly didnt do my research properly when i first staked on ILV but we learn from our mistakes) defo doing research in future before staking in anything

[slow anchor]

yeah ill just have to wait til gas goes down a bit. thanks for the answers

[ripe steppe]

no worries bro, appologies for the frustration

[wheat grotto]

Im stressing because I’ve sent the ILV back to MetaMask but it hasn’t turned up 🥲

[icy ocean]

If you didn't put some unrealistic gas fee it should be k , will just take bit more time

[ripe steppe]

takes some time for transactions sometimes, ifts not there within an hour then starting to see whats up or speeding up transaction becomes next step

[cyan rapids]

the rewards are claimable 1 year after claiming, the amount that i staked is locked for 1 year from the day i staked it before i can unstake and sell it, part of my total stake is my first stake that i did 2 months ago locked for 5 months only so it will be unlocked in 3 months and i can sell or restake it then

[wheat grotto]

I didn’t add ILV as a custom token, I’m an idiot.. it’s all sorted now

[ivory cove]

FYI for those in the XYZ flash pool: to withdraw, you need to first claim your ILV or sILV rewards, then click the purple withdraw button with ILV or sILV selected and approve 2 separate tx. My total cost for all 3 tx was ~$150

[near bay]

how much to start staking right now is a good amount in the slp pool

[quiet prairie]

Hi guys. Why does it say that my funds are still not enough when staking but the total gas fee is lesser than my balance? do i need to have the max. amount?

[glacial rock]

Hi! I wonder what happens to my staked ILV if, let's say, the website disappears as I don't see it in my wallet. Is there a way I can keep the contract in my wallet? (if there is one. I lack of understanding how this works...)

[covert sage]

When is sILV going to be the same price as ILV

[umbral crane]

it will always be the same price as ilv when used in game and for land but rn its shows lower on dexes because people trying to claim rewards asap and get half the money as oppose to wait a year

[serene mist]

Is it worth is to locked stake SLP for short periods of time, say around 1 month? or the gas fees would just kill you?

[mint cave]

would depend on the amount staked, really

[serene mist]

so the amount should be big enough to make profit that it would cover the gas fees right?

[mint cave]

that would be prudent

[serene mist]

thanks mate

[ebon vector]

ok so if i stake for the Sushi LP and lock it for 12 months. can I still claim some built up SILV when the game releases?

[mint cave]

yes

you can claim any rewards you have, at any time, as ILV or sILV

[ebon vector]

oh really. mmmm so the lock is only just for pulling back out the ETH/illuvium you are staking

[brisk surge]

exactly

[brisk surge]

its just a smart contract saying that no one can touch the coin that is being staked for however long you select. but you can claim your rewards at any point in time

[mint cave]

indeed. if you claim ILV as your reward, however, it is locked for 12 months (but also generates additional yield during that time)

[ebon vector]

yeah so its just you gotta pay the gas fees for claiming rewards

[mint cave]

yeah

[ripe steppe]

on this chat there is a calculator pinned that lets u calculate how often its best and most profitably for you to claim rewards (as it depends on your personal staking amounts, on the APY and on the gas fees)

[covert sage]

How profitable is that pool?

[grizzled kindle]

The slp apy is going down

[grizzled kindle]

What’s it called so I can use it

[mystic thorn]

IMO it’s gonna keep going down so suck it all up while you can

[grizzled kindle]

Yeah I’m staked in for a year

[clear cape]

544% @490 USD

Could be worse

[mystic thorn]

It’s still super good though

[grizzled kindle]

Yeah so far made 2 ILV in 2.5 weeks not bad

[mystic thorn]

Ya that’s crazy money tbh

[grizzled kindle]

Especially for doing nothing and just locking up some money thatd would’ve been sitting in a wallet not doing much

[mystic thorn]

That is true it’s a passive income that you can rely on sure not to the full extent because of a crash but that is highly unlucky with the way this game is headed

[bitter dock]

how much ILV do people usually accumulate before they claim their reward?

[mystic thorn]

Depending on how big you are seeing a person with an average amount they would wait til 3-3.5 coins to cash out depending on how patient you are

[quick flare]

it depends, make sure the gas fee doesn't eat up your fund

[clear cape]

purely depends on ur stack mate

[bitter dock]

sounds good - thanks guys

[mystic thorn]

Yessir anymore questions just ask

[ripe steppe]

https://cooper1903.shinyapps.io/stakingyield/ sorry just saw ur message

[ebon vector]

when I staked, I didnt get an option to choose Silv or ILV, is it automatic?

[grizzled kindle]

I’m just going to wait for my locked period to end and then claim at once is that a good idea

[ripe steppe]

see my last message for a link to calculator that lets u figure out the best frquency for claiming rewards for u personally 👆

[ripe steppe]

u may be reducing total profit by doing this as ur missing out on the compounding of claiming rewards earlier (if u claimed lets say in a month then the next 12 months ur earning APY on those earnings, if u claim in a year u miss out on that and get that only later on, so use the calculator link above to see whats best claiming frequency for u)

[bitter dock]

thanks!

[ripe steppe]

this is not a true amount for everyone, depends on how much u have staked and other factors (like im claiming every 20ILV or so...) check the calculator for yourself to be sure (the link is a few messages up) (and always recommend the calculator to others when they ask as the answer is different for each of us) (the calc link can also be always found in the pinned messages of this chat if u scroll down)

[ripe steppe]

each and everytime u claim u can choose to claim sILV or ILV, you can choose differently each and every time u claim if u choose (does not ask when staking for this reason)

[ripe steppe]

recommend the calc to everyone that asks this questions for an individualised answer

[bitter dock]

is there any reason to ever claim sILV? if you participate in the land sale, there's no advantage of buying the land with sILV vs ETH right?

[noble bridge]

deraji calculator much better tbh:P you should check it out if you haven't already

[ripe steppe]

no advantage, sILV is usable only for land or in game, some people claim it because theyve already put all the money their willing to in ILV and claiming sILV gives them something to use for land or in game, it is in my view more advantageous to claim ILV and keep that compounding going (also some people who got in early have claimed sILV and sold it at a lower price to others because even though its a cheap price its way more than they originally paid likely to get back their initial investment) (if you are interesting in cheaper way to buy land the link to buy sILV is https://www.dextools.io/app/ether/pair-explorer/0x13cf86f52d4a3000ca7349ce5cf107c248dfea81)

[ripe steppe]

will do, but the other one is also fit for purpose and a few days difference aint a world of hurt (esp since people wait that long anyways for low gas these days) negligible imo, but will checkit fo sho

[noble bridge]

you can run alot of different scenarios

that will make someone with your level of hopium prob shoot to the moon, when you see the calculated ROI at 1 and 3 years

[ripe steppe]

i do like running scenarios ngl will have a nice play with it tmrw, got the tab open (4:30am here need to sleep lol but the #🥩〕staking chat needed some attention lol)

[livid light]

good questions is ballpark for land costs

[bitter dock]

oh that's interesting

[ripe steppe]

unknown and wont be known until they go on sale

[noble bridge]

well now that it looks like gas farming isnt going to be on IMX until mid 2022

[bitter dock]

people can sell their sILV there? and do so at a much cheaper rate than the 1:1 that it should be tied to?

[livid light]

I just staked what I am willing and hope to use sILV for land from the rewards

[noble bridge]

i wonder if land prices go any less when people realize they will have an ether fee vs just stockpiling gas

[ripe steppe]

not everyone tells u that, but u got the scoop lol, yes they do because the 1:1 value only applies for land and in game (and they probably just wanted some quick liquidity or for various other reasons/manouvers i wont get into rn)

[livid light]

So I only have to pay the gas fees to claim rewards when it is time

[bitter dock]

So then during the land sale, you would be able to buy this sILV? why would anyone ever actually pay in ETH for the land sale if they could just trade in this ETH for that sILV and get a better value for the land sale?

[ripe steppe]

yes, to know when to claim checkout the calculator for claiming frequency in the pinned messages on this chat

[ripe steppe]

closer to the time the sILV price may and likely will go up (the more people buy it the higher price goes, i myself got 7sILV today because its extra low rn, thats $1.2k which if ILV price is $1k at time of land sale will be worth $7k for land lol) i couldnt resist, if u want it, id say dont sleep on it lol (if u have any further questions happy to reply in DM)

anyways im off to sleep for now laters

[livid light]

Goodnight buddy

[grizzled kindle]

hey there how do i figure out what the APY% for ILV pool at token weight 2

[livid light]

go to stake and max the term

76.44% I believe

Question is should I hold ETH back or just go all in on SLP and hope the rewards will cover the cost of land...

[grizzled kindle]

just go all in i would but hey no financial advice haha

[grizzled kindle]

hey thanks for that i will now be claiming every 30 days. and also do you reckon it would be worth to claim a little of silv for the game and then the rest ilv \

[livid light]

ILV is locked for 12 months where sILV you can use

so if your planning to play and spend on land get sILV or just looking to invest go ILV

[grizzled kindle]

alright thanks bro

do we know what price of land are looking to be like

[neon isle]

nothing definite yet, we're just waiting for the announcement

[granite halo]

Man, not gonna lie. After seeing Polygon smart contracts get stolen, anything not in my wallet is a little scary. How strictly were ILV smart contracts audited?

[fresh basalt]

They were audited by QuantStamp, they had a PDF report that I read yesterday, didnt understand the technicalities of it but basically it passed and the high risk issues were solved

[neon isle]

Here's the link of the audit report. https://certificate.quantstamp.com/full/illuvium-erc-20

[hexed tulip]

Hi guys. Is there a way to renew my staking without having to withdraw first?

[granite halo]

Thanks. Will check it out!

[granite halo]

If by renew, you mean add to it, then no.

[hexed tulip]

No, I mean that the lockup period ended

[mental tangle]

To my knowledge no. You'll have to unstake before re upping for juicier staking weight

[hexed tulip]

The lockup period ended. I guess it's fees for withdrawing and then fees to stake again?

[mental tangle]

@hexed tulip
Pretty sure that's the only way.

But even if the lockup is over you keep the weight that you initially staked at.

So I staked all my stuff for a year. Once it's unlocked it's still weighted at 2x until I unstake. Even though it's now unlocked

[hexed tulip]

Thanks, and in what way is the weight important? Does it generate rewards while still unlocked or something different?

[mental tangle]

It will count towards your share of revenue distribution when that starts up and also effects your voting weight in the DAO. Not to mention your APY yield.

It has a MASSIVE importance.

Longer stake lock = higher weight.
like is says In the staking interface

[brisk surge]

Has anyone else just been waiting for gas prices to drop to add liquidity and stake more?! Lol stupid gas prices

[neon isle]

thats basically half of the server. dont worry you're not alone

[hexed tulip]

Thank you very much. The only question I have left is: If I don't withdraw them now, do they still generate yield or is it simply like I'm storing my ILV in a different place?

[mental tangle]

They will continue to generate yield so that's a plus 😁

[rain belfry]

massive noob here anyone know a way to stake buy and dtake ilv without paying hundreds in gas fees?

[neon isle]

wait for the gas to drop, thats probably the only way and it looks like its not coming down anytime soon with all this nft hype

[silk pollen]

Stupid question but is it possible to just buy ILV coins/tokens? And is that via sushiswap?

[neon isle]

Yes and yes

[rancid pine]

If I claim the rewards in ILV, is it possible to compound them in the vesting period, meaning putting them in stake or i need to wait till the vesting period is over?

[manic spindle]

!claim When you claim ILV as yield farm rewards they are automatically staked for 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.

[rancid pine]

Thanks 🙏

[woven sphinx]

do you guys just stake in the core ILV pool? no other benefit to the SUSHI LP pool i guess, if not planning to use sILV ingame?

[ember basalt]

sushi pool has higher apy but also higher gas fees. personally i have both.

[magic ledge]

For locked staking, do you get rewarded at the rate you locked or the fluctuating APy

[junior shuttle]

fluctuating apy

[cyan rapids]

for rev dis what will the reward be in? ILV?

[manic spindle]

!revdis Correct, RevDis is paid out as unlocked ILV that needs to be claimed 🙂

[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.

[cyan rapids]

gotcha thank you

[wheat grotto]

So now that I’ve got my ILV I wanna eventually stake it.. I’m struggling to word my question as I don’t really understand it so.. once I’ve staked it, do I no longer own the ILV i purchased? For example if I stake one coins worth is it no longer mine once staked?

The content I’m coming across just seems to be tutorials but I already know how to stake it

[cunning perch]

when you stake your ILV, it moves out of your wallet and enters Pools. It'll be there and generate rewards and later, RevDis. When tokens are unlocked, you can decide to withdraw them and sell/HODL. Be advised that withdrawn ILV from the pools will revoke their right to receive any RevDis and they will lose their weight.

[wheat grotto]

Considering staking mine until launch, gas prices seem a bit more reasonable today.. is 100 considered low now lol?

[wheat grotto]

Another question, once the staking period has ended the original ILV invested comes back into my wallet?

[cunning perch]

I'd say 100 Gwei is a bit high atm. We've also been seeing 60-80 recently, and since we are closer to weekend now, it might not be a bad idea to wait for lower. But if your stake is big and you have some ETH to spare for gas, the sooner you stake, you will get rewards for it. You have to decide it really.

[cunning perch]

No. It'll be there in the website and keep receiving Revenue (when it starts kicking in). Then you can keep it there, or withdraw it to your wallet (pay gas) and then sell/HODL/transfer to another wallet should you wish so.

[wheat grotto]

Okay thanks, I’ll keep thinking I’ve had no idea what to do since I’ve bought tokens 😂

[cunning perch]

feel free to ask whatever you don't understand 🙂

[wheat grotto]

Thank you!

[knotty heron]

Man i remember the good old days of 20 gwei

[craggy field]

what do you mean, i much prefer 7000! lol

[cunning perch]

20 was high. I always claimed at 10 or lower.

[knotty heron]

Yeah man, wonder if we will ever get back down there

[wheat grotto]

Man I nearly pulled the trigger when I first got into this didn’t even know about gas fees and when I checked they were at 500. 7000 is crazy 😂

[cunning perch]

might even go below that after ETH 2.0 🙂

[ember ginkgo]

Looks like I'll just be claiming when my locked time is over, I can't afford this anymore haha
Or ofc when ETH 2.0 hits

[wheat grotto]

When that releases you just convert your Current ETH to Eth2.0?

[knotty heron]

Lets hope so

[ember ginkgo]

Or gotta trick Arash in buying my NFT

[wheat grotto]

I hope it’s that simple I was so overwhelmed by all of this still trying to get to grips with it don’t think I parted with my phone for 12 hours trying to figure it all out 😂

[cunning perch]

I can sell you my 1559 if you want. Need cash to buy the dip lol

[knotty heron]

I think we all need cash to buy more xD

[wheat grotto]

The guys who have already staked did you go all in with what you’ve invested or keep some ILV in wallet for when the prices eventually increases

[knotty heron]

100% staked boi

[wheat grotto]

Very tempted 😝

Why has gas prices increased so much anyway is there a cause for the rise?

[neon isle]

nft craze probably

[carmine drum]

panic sell, nft minted, too many transactions to handle,…..

[wheat grotto]

Bound to calm down 🤞🏻 honestly can’t wait for the release of this game watched hours of YT content on it everyone’s going mad for it

[ember ginkgo]

lol you want to buy the dip, I just want to claim my rewards 😛

[knotty heron]

The consistent high gas prices for the last few months have been from all the nft hype, so much minting going on.

[cunning perch]

already claimed on Sunday. It's pretty silent in rewards section for me 😄

[ember ginkgo]

Man I checked, was still €100. Is too damn high 🙂

[knotty heron]

Its a double edged sword for us, because more people involved in nfts bring attention to illuvium, but it raises gas prices xD

[clear cape]

Only makes sense to keep ILV liquid prior price jumps, ie : Game trailer, land sales, game launch.

It's a risky game though as your opportunity cost is losing out on staking rewards, which may or may not outweigh the gains from keeping your ILV liquid.

Personally I had some ILV on flexi stake prior to the trailer and got rekt due to the delay, so yeah. It's on lock for 6 weeks now on SLP lol, i'm planning to flip it and play around the Impermanent Loss

[vital kayak]

All in. No one knows what’s high or low price, just get workin on those delicious rewards 🔮

[wheat grotto]

So much to learn in such a short space of time it’s frying my brain lol

[wheat grotto]

What sort of rewards is it never actually seen anyone on YT claim anything is it in game currency or ILV?

[clear cape]

Honestly with these staking rewards and if you dont want to have a headache about it, better just staking it and letting it go. You'll end up good either way 😛

[neon isle]

With months before game release you definitely have more time to get your wrapped around everything.

[clear cape]

The ILV staking rewards

[vital kayak]

16 days , 52 week stake SLP. Buying more, staking more at 52 weeks, idgaf what anyone else does or impermanent loss

My ROI is 40 days with gas and pairings

We have 9 ILV, buying #10 after market settles

[wheat grotto]

Yup little by little I’m getting there lol everyone’s so helpful on here as well which is obviously huge bonus

[vital kayak]

Oh! And That’s 8 ILV SLP, one is ILV pool

[vital kayak]

WELCOME!! You’re early AF 🔮

[clear cape]

If you believe in the game just buy it when you can and stake that shit for 12 months and let it ride

[wheat grotto]

That’s sick man! I have around 2 ILV invested just figuring out what to do with it SLP seems decent 👀

[vital kayak]

After Star Atlas mess, yeah, Illuvium has their shit together 💯 and Makin moves

[vital kayak]

YouTuber @dusk kestrel put $35,000 into ILV SLP, hard core 🔮🤗🤑💪🏻

[wheat grotto]

Fuck yeah I believe in the game haha love the concept of it I do believe it’s gonna change everything

[wheat grotto]

Wow lol

[dusk kestrel]

$70,000 now lol

Trading been going very well and I'm far too bullish on ILV, plus the staking is so god damn juicy 😄

[clear cape]

Leave some for the rest of us yeah 😆

[surreal vortex]

Hey guys. I have SLP in my wallet. I'm trying to stake in the SLP pool. I have tried to stake at all times of the day. When I hit enter, it just spins and spins and it never accepts my staking. Has anybody else experienced this? What do I do? thx

[wet timber]

What will V2 staking change ?

[neon isle]

i think this is the only thing we know

#809220563397902346 message

[ripe steppe]

reloading page? do u have enough ETH for gas fees?

[ripe steppe]

very nice bro, whats your long term plans? sell it all a few years down the line? or HODL for life and only sell from the REVDIS? or??

[surreal vortex]

Yes i have plenty of ETH for gas fees. I do not get a "insufficient funds" message.

[hot lynx]

Hi everyone how are you doing 👍🏻

Can I ask what is V2 staking ? .. I hope it's more reliable than the gas fees and failed transactions I get now 🙏🏻

[hot lynx]

Yes + 1

[brisk surge]

Hello, someone have the link to see the price of SLP now please ?

[cunning perch]

https://app.zerion.io/invest/asset/SLP-0x6a091a3406e0073c3cd6340122143009adac0eda

[ripe steppe]

dm me a screenshot, lets see if we can sort u out

[ripe steppe]

#🥩〕staking message regarding v2 staking

[ripe steppe]

nothing unreliable about the gas fees right now functionally speaking they work, failed transactions only happen as a result of setting gas too low, dont be cheap, its expensive lol, gas fees are due to ethereum network and cannot be altered by the illuvium team, if you mean unreliable in that they fluctuate the illuvium team have no control over this

[gleaming warren]

Hi everyone. I'm new here and trying to stake my ILV. I'm still confused about the SUSHI LP option. I get that I can have impermanent loss, but how do I get my profits if I choose to stake in the LP? Also, just tried to stake my 2 ILV and my gas fee was 0.04 ETh in metamask 😭 is this normal???

[manic spindle]

!staking The video mentioned below goes in detail into everything from buying ILV to staking in LP pool 🙂 Also, gas fees are quite high at the moment, yeah. Lots of traffic on the ETH network.

[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

[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.

[ripe steppe]

as for gas fees, yeah it is normal, for gas fees to be worth it.... staking in ILV pool at least $1k worth to make gas worthwhile (having 0.05+ ETH for gas), staking in SushiLP at least 2 times that to make it worth gas (having 0.1+ ETH for gas) (the more you stake the more its worth it compared to the gas fees)

[mystic thorn]

Question so do you get more rewards the more ILV you have or does everyone get the same amount

[cunning perch]

The more ILV you stake the more Rev and more YF rewards you get based on your token weight. So literally stake long, you'll be happy

[mystic thorn]

So ya 52 weeks with 10 coins will give you more rewards then 52 weeks with 5 coins right?

[cunning perch]

ofc. the more this, then the more that. You stake more, You get more rewards and RevDis.

[mystic thorn]

Ok thank you that’s what I thought I just wasn’t sure

[gleaming warren]

@manic spindle @ripe steppe Thank you so much. Will look into the video mentioned

[cunning perch]

no worries. enjoy the rewards.

[mystic thorn]

Oh don’t worry I will I’m saving up a good chunk before claiming then

[gleaming warren]

I just watched the video. But I still can't see any advantage of staking the SLP over the pure ILV. How is the APY even calculated?

[surreal vortex]

Thanks for helping. When I try to stake to the SLP pool as you can see in the screenshot next to the vesting button the circle keeps spinning. It has been spinning for over 30 minutes.

[manic spindle]

!read you might wanna check out the articles below. There is a clear yield farm schedule in regards to how many tokens are paid out and the LP pool receives 80% of those while the ILV core pool receives 20% (if there isn't any flash pool live taking a 2% cut of the total rewards). Going for LP instead if ILV only comes with the benefits of possibly higher APY (=more yield farm rewards) and a share of the fees on SushiSwap. It does have the risk of IL though and requires to put some funds into ETH rather than having more ILV tokens (=relevant for RevDis) 🙂

[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

[gleaming warren]

Thanks again! I'll take a look at these. Learning so much today lol

[bitter dock]

i am definitely interested. i've never heard of dextools.io before though, is that just another exchange where you can buy crypto? can someone confirm the legitimacy of it for buying sILV with ETH? (sorry for the super late reply on this, fell asleep lol)

[wind walrus]

You can purchase Silv on Sushi

[ripe steppe]

also works

[wind walrus]

You went ahead and grabbed some?

[ripe steppe]

got 7 at $200 each ($1.4k total) if ILV is worht $1k+ when land sale happens i have $7k+ to spend on land sales lol how could i not resist

[neon isle]

https://tenor.com/view/big-brain-markiplier-gif-14835823

[wind walrus]

Very cool. I came close. I bought 3 more ILV this morning. Still might grab a few silv

[full stump]

there is any staking for the 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

[prisma temple]

I was thinking about doing this instead of ILV, think this would be a good strategy for a small account to get more leverage?

[wind walrus]

Depends on your end goal. Silv will be great if you just wanna play the game or have more funds to purchase land. The drawbacks are that silv will always trade for less on the open market and can't be staked. You also won't receive RevDis with silv. How much investment are you thinking?

[prisma temple]

true. I guess my goal would be using all or most of the silv to buy land. I have about 5k i hve been waiting to invest and its either land or ILV stake

[wind walrus]

If land is your main goal then silv is your best bet. 5k in ILV is a good investment and will offer good apy if you stake and passive income once RevDis starts. Of course land can also provide passive income. A choice only you can make

[prisma temple]

gas fees are probably still a consideration with land sales?

[manic spindle]

Since it's a dutch auction there should be less problems compared to other NFT sales where people try to outbid one another to mint first etc 🙂

[wind walrus]

Will sale be on mainnet or L2?

[umbral crane]

damn we down to 550 already

[manic spindle]

I expect it to be mainnet personally, but who knows what the team and the guys from Immutable X might come up with by then. As of yet, I personally still expect mainnet. For anything else in that regard, please use #🎮〕illuvium-zero so we can keep land sale over there 🙂

[hot lynx]

Yes my understanding was that CORE staked ILV or SLP staked ILV / ETH . That RevDis also occurred as well.

[wind walrus]

Correct

[hot lynx]

It's $487

[umbral crane]

i meant apy my bad

[wind walrus]

Because of price dip, it will rise when token price increases

[umbral crane]

price not important at all to me, jus tryna get as many tokens as possible

[umbral crane]

i thought it would be the opposite but recently ive seen that this is true. at least coincendentially true

[hot lynx]

Sounds like your not aware of the mobile meta mask issue ... I am not cheap 💛

[wind walrus]

It is true. APY will rise with ILV price increase. Assuming the rise outpaces the 3% fortnight decrease

[umbral crane]

ye i remember wehn price ran up to 600 the apy shot up like 50%

[eager bough]

I was going to ask if staking on mobile, or a hotel's wifi would be more risky?

[hot lynx]

That's not the issue I am taking about a code issue

[eager bough]

My question is more overall then, if anyone thinks I should use mobile or a hotel's wifi if those are my only two options for staking?

[cunning perch]

well nothing is certain, but a public WiFi is susceptible to hacks than private ones. That's why it is believed keeping your crypto in CW is better than Hot ones

[hot lynx]

Use Nord VPN on your mobile phone for cell or wifi . I do

[cyan rampart]

I'd trust mobile > public WiFi

[eager bough]

Ahh good idea, any VPN should do right? I have Private Internet Access. Only alternative I could think was to remote access in so I potentially didn't have to type my pw

[cyan rampart]

IF at all possible, I'd wait till you're using a network you absolutely trust though.

[cunning perch]

@cyan rampart welcome to group Orange 😄

[cyan rampart]

https://tenor.com/view/elias-test-orange-orange-dance-gif-13609786

Thanks 😄

[eager bough]

That orange looks nice Blick! A vote for mobile, noted. Thanks for the input

[uneven flare]

If I have only LP stake, I’ll always have to pay for double claim? After the first one?

[wind walrus]

Yep, unless V2 changes that

[cunning perch]

yes for now.

[cyan rampart]

#809220563397902346 message

[hot lynx]

Any that's got a review online to support it being safe . Yes

[brisk surge]

V2? where can i get info on that?

[hot lynx]

+1 including dates

[wind walrus]

Look up at Blickter post

[brisk surge]

hehe thanks

[timber briar]

I staked into illuvium on their website and accidentally locked it in for 1 week when i meant to lock it in for the 12 months…. Is there any way i can change this? Or will i be able to withdraw after a week and restake

[cunning perch]

Hey. No you will have to wait until the vesting ends. then unstake (withdraw) and re-stake for one year. You're gonna have to pay gas for all transactions

[ripe steppe]

Lol fairs, maybe try on computer?

[atomic tapir]

hey guys is it better to stake on ILV pool or SLP staked ILV / ETH??

[hot lynx]

Ye and I am not sure if you have seen the message flash up with the ILV site when you got stake . Saying that people are having issues with mobile meta mask to stake . It's a ILV message

[ripe steppe]

Fair enough, maybe therefore try on a computer then…

[hot lynx]

Sure Np just take a look so that the advice is in sync with the company 👍🏻

I am trying to help others

[ripe steppe]

There is no better, they are different, SLP has a higher potential returns, but has some higher risk, ILV staking has lower returns but lower risk (i personally am staked only in SLP and the rewards anyways get staked in normal ILV pool and in my personal opinion its better, but also if you are only staking like $1k, its not worth staking in SLP because gas fees make it not worthwhile) you must take your own situation and risk tolerance into account

[ripe steppe]

As am I, appreciate the correction, will know to recommend computer purchases in future to others in a similar situation, appreciate the education, we’re all learning here 🙂

[atomic tapir]

I see. What is the potential risk for staking in SLP pool?

[ripe stratus]

if it is about $10k is it worth it?

[cunning perch]

Impermanent Loss and paying 2 gas for claiming SLP rewards (for now)

[ripe steppe]

Gas fees are 100% worth it imo if staking $10k (im not staking that much more myself)

[ripe stratus]

Thanks!

[ripe steppe]

Have around 0.15ETH left for all transaction (anything left over u will anyway need to claim rewards later) (and after check on the pinned messages theres a calculator that helps u work out how often you should claim rewards for maximum profit)

[mystic thorn]

I sort of like gas prices changing so often because you have that potential to save so much money

[ripe steppe]

The people who remember when it was 10 gwei do not feel like they are saving money 😂😂😂

[mystic thorn]

how long ago was that 🙂

[cunning perch]

before 1559...before Aug 4th

[mystic thorn]

are they so high no because of NFT's?

[cunning perch]

ETH burning going around and NFT minting ofc

[mystic thorn]

what is the main cause of this like which game

[cunning perch]

OpenSea Maybe....Games are not to blame. I don't think so

[mystic thorn]

ok thats good to know then thanks

[atomic tapir]

Do you guys stake periodically or all at once?

[cunning perch]

With high gas fees, Staking all at once makes better sense than to stake one at a time. Also, the more you stake, then the more rewards you get.

@atomic tapirmake sure you read all the documents and fully understand them and ask questions to make it crystal clear before staking.

!read

[woven ibex]

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

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

[atomic tapir]

Got it! Thanks for the help 👍

[lean crown]

what’s a good amount to stake ?

[cunning perch]

anything that justifies paying the gas makes sense. It totally depends on your buying power and decisions

[lean crown]

am I allowed to add more to the amount whilst it’s locked?

[cunning perch]

you can add as much ILV as you want whenever you want however you want 🙂

[vague sierra]

hi i have a issue with staking can someone help me with this?

[lean crown]

but does it start a new unlocking time or does it just add on to the ones I locked before

[cunning perch]

You decide how long to lock your tokens for. Every time you stake, you decide. But rewards will be locked for one year **AFTER **you claim them (pay gas). Each claim will have a separate 1 year lock 🙂

[lean crown]

got it thanks man🙏

[cunning perch]

Hey. What's the problem?

[vague sierra]

first off thank you for replying every time to my questions 👍

so its about claiming the rewards, its now the second time that i try to claim my SLP rewards i clicked on the ILV claim button next to the shushi pool like i always do. just the issue is that only the normal pool gets claimed and the SLP doesnt while i pay for the full transaction, right now it still says "contract interaction pending" but i cant see it on etherscan either. (0xc099d7cee577123f6d8a2eee8c9c91f0a51d4ae4cb37166cb5a595ba6fc2b9bb) transactrion ID

[cunning perch]

No problem. Well for SLP you always have to pay two gas (2 transactions) as the first one claims your ILV pool rewards and the second one claims the SLP.

[cunning perch]

how long has it been like this? I mean not seeing the tx on EthScan

[cunning perch]

did you claim the ILV pool rewards before that?

[vague sierra]

yes i did claim few times already without issues

[cunning perch]

no i mean now, cuz your ILV rewards are so tiny atm

[vague sierra]

thats the issues i'm having i tried to clain the SLP pool but it only claims the ILV pool as you see there the SLP rewards are still there, i didnt even clicck on claim ILV next to "ILV POOL" i clicked claim ILV next to SHushi LP"

[cunning perch]

yeah when you want to claim SLP, first it's going to claim your ILV Pool rewards and then You will have to pay another gas for SLP rewards. I guess your ILV pool rewards are so tiny that you're gonna have to wait a bit for it to be collectible. Besides, Gas is insane;y high now. Wait a bit longer

[vague sierra]

i did it an hour or so ago when gas was below 100, but i did pay for 2 transactions it just doesnt execute them both it only does the first one leaving the second one "pending" this is the second time this happend now, the first time the transaction got dropped

[cunning perch]

when it's pending, it means it's going through. WHat gas did you choose to pay it with? If you chose 60 and now we're at 300, it might still be pending until it drop to your entered gas

[vague sierra]

i chose the medium option i didnt change any values

[cunning perch]

you can speed it up if you want, but it'll cost a lot of gas. If you did it when it was sub 100, it's 300 now. So wait a bit let's see where it gets you.

[vague sierra]

ok, will the transaction be dropped again like the last one if it doesnt go back sub 100?

[cunning perch]

Really don't know. If you run out of gas, it might get dropped again.

[vague sierra]

do you know if there are any plans to take the staking section to layer2 aswell? it would save people sooooooo much headache and gas if it was done, then you just transfer ETH once to layer 2 and from there staking and claiming will be nearly gasless

[cunning perch]

Staking V2 is going to help a lot. We're waiting for the finalized proposal. The team is working on it. Don't worry 🙂

[vague sierra]

👍 thnx dude

[cunning perch]

check back again if it didn't work out 🙂

[vague sierra]

yeah i will, this is kinda frustrating because gas is so expensive AND it fails 😛

[cunning perch]

I know your frustration 🙂

[brisk surge]

does this mean sometime in the near near future?

[cunning perch]

The proposal will be released soon. For more details, you gotta wait a bit 🙂

[brisk surge]

unlucky 🙂

[lilac coyote]

Make sure you are using the latest version of MetaMask. I use the most updated version with Firefox. I was not sure they are updating the edge version.

[dusk siren]

Does claiming sILV also have gas fees?

[manic spindle]

Yes.

It is a regular transaction on the Network just like claiming ILV.

[dusk siren]

Ahh okay thanks. Sticking to ILV then I guess

[manic spindle]

The contract might do different things (due to the vesting part of ILV while sILV just gets withdrawn) but both claims come with some gas fees, not necessarily the same though.

[whole nexus]

!read

[woven ibex]

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

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

[manic spindle]

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

[brisk surge]

how to make sure that you have the most updated version?

[whole nexus]

Ok sorry ^^ i dont knos how to find medium sorry

[lone sandal]

What will be in the proposal Staking v2?

[manic spindle]

There are a lot of relevant links in #791148036935516161 and #🔗〕helpful-links 🙂

[lone sandal]

Found the info myself. Tnx anyway guys!

[mystic thorn]

oh jeez i didnt even see this message sorry

[lone sandal]

No problem. Tnx

[whole nexus]

Thank's

[hollow kelp]

Can anyone tell me what the current fees cost would be (roughly): eth transfer to sushi -> swap for some ILV -> provide liquidity on sushi -> transfer SLP to metamask -> sent to ILV staking on site?

Is it about $150-200 at each step?

[mystic thorn]

for all of that around 550-600 based on where you can get it at

[neon isle]

some who staked at 60-70 gwei they say it cost them about 200$. idk at current gwei but thats just plain robbery

[hollow kelp]

Yea just wanted to confirm these

[whole nexus]

I dont understand something in the staking protocol. The impermanent loss is mentionned on the 29 medium post.
They say that we can have at least a value of dollars less then when u put SLP buut at least you have your rewards in ILV in the same amount, even the impermenent loss?

[brisk surge]

!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

[wind walrus]

Say you put 2 ilv worth 1k. You also put 1k eth to match. Then ilv moons to 1k per token. The pool is not balanced because your ilv is worth 2k and your eth is only worth 1k. Arbitration will happen and pull some ilv out and replace with eth to balance the pool. That is impermanent loss. If you withdrawal at that point it becomes permanent.

[mighty bolt]

Dang that’s crazy high risk…..i see why the % is so high

[whole nexus]

Ok thanks, sooo, if i put 1k in ilv and 1k eth in SLP pool and the ilv and eth have - 50% in 12 months?? We Ill receive normally our ILV with the apy buuut my 2k in SLP are now 1k because of price? Or because of amount of ilv and eth?

[wind walrus]

The total amount in dollars will rise and fall with ILV and ETH prices. So in 12 months if SLP is worth 5k you would get 2.5k of ILV and 2.5k of ETH back

[brisk surge]

however many of each coin is what your multiplying by percent so if you put in 2 ILV and say .3 eth once you have reached the 100% apy your rewards will be 2 ILV and .3 eth whatever the price is at that time. so if it was 3k when you put it in and its 6 k when you take it out that .3 eth will now be worth around 2000

I think this is how is works, can anyone confirm?

[wind walrus]

Try not to mix rewards with SLP. It could confuse people. No, if SLP is worth 6k when you take it out you will have 3k worth of ETH. The .3 ETH will change. You might have .5 or any other number to equal half of SLP value

[woven sphinx]

looks like gas fees are still crazy to stake...what gas limit did you guys use?

[brisk surge]

I thought SLP was just half eth half ILV, is it its own token?

[wind walrus]

Read what a added at the end and see if that make sense to you.

[wind walrus]

I just wait until gwei is around 40-70

[brisk surge]

not really, and wow thats low when do you see that?

[mystic thorn]

he isnt seeing it he is just saying try and wait til you see that number

[wind walrus]

Normally around 5am. Lately I don't see it as often

[brisk surge]

dang gonna have to start staying up all night

[wind walrus]

Lol

[wind walrus]

Yes, SLP is a token

[brisk surge]

and its price is just based off of what the prices of eth and ILV are or no?

[wind walrus]

Yes, based off of a 50-50 ratio split. The ratio is the important part.

[brisk surge]

so it doesnt really have its own price technically?

[whole nexus]

Sooo ok, but if in one year we are in bear market etc i can stake my SLP again. I have permanant loss only when i sell my slp??
Thank you for the link to binance its pretty clear but i think its reaaaally worth to stake slp even of permanent loss hihi no?

[wind walrus]

Correct, the loss is not permanent until you sell. The price of ILV could fall or ETH could rise and level the IL out. If you already have SLP staked you don't need to re-stake it. You can just leave it there and keep getting rewards and hold your 2x token weight

[whole nexus]

But if i dont need to stake them, when i claim in 12 months i can sell the SLP token and that will give me some parts of eth and part of ilv right?

[whole nexus]

So it's really worth to lock for 12 months even if permanenr loss because the apy will heavly reduce that loss in long term no? What your relfexion about that?

[wind walrus]

I have 9k Staked SLP. Well worth it to me but everyone is different.

[shrewd river]

Very rough estimate but: Every 10 SLP staked at 2x weight gives you 1 ILV/day in rewards

that's $15k/month at current price 🙂

[wind walrus]

Not bad for a 28k investment.

[whole nexus]

Dream ahah

[shrewd river]

ya and im personally bullish on ETH as well over the next year so hopefully the IL will be minimal. win/win at its finest!

[silver sky]

That's kind of how I see it. both ILV and ETH I am bullish on and will not be particularly sad if ILV flying will result in more ETH in my pocket

[surreal vortex]

is anybody having trouble staking? i have tried to stake to the SLP pool multiple times yesterday and today and the wheel next to the vesting button keeps spinning. i have confirmed the transaction in metamask but the staking is not going through.

[stable linden]

Have you added the slp token to your wallet? I had to do that the first time

[surreal vortex]

yes the slp is in my wallet. the amount shows up on the staking page. i clicked max and it preloaded all my slp in my wallet.

[stable linden]

Gotcha, last thing I would know is do you have enough for gas.

[surreal vortex]

yes...plenty of ETH for gas

[stable linden]

Right then I'm not sure sadly, a mod would be able to help more

@manic spindle ^

[manic spindle]

Could you DM me the transaction id?

[forest ocean]

im curious what is the point of claiming sILV right now, since they can't be used for anything?

[stable linden]

Most will use it to buy land from the land sale

[manic spindle]

Some are selling on the open market below ILV value. Some are just stashing a bit for later already.

Biggest claims will happen around the land sale though for sure 🙂

[forest ocean]

i see. but they will have to be moved to IMX before they can be used, correct?

[manic spindle]

In game yes. Land sale most likely not 🙂

[forest ocean]

ah makes sense. thanks

[misty prairie]

hey guys, does anyone have any recommendations for other protocols to stake in for expanding their portfolio?

[mint cave]

#795846467084484619 might have some decent chat history for that

[mystic thorn]

what is yield farming about

[misty prairie]

any hints on what i should search? lol im not pulling anything

[mint cave]

non-illuvium staking platforms/tokens/etc

[mint cave]

i know XYZ has a good selection of staking pools, SNX has a great staking platform...other than that i'm not super knowledgeable in that realm

[misty prairie]

is there a site for xyz?

[mint cave]

yeah i tagged you in #795846467084484619 😉

[misty prairie]

This may be a silly question, but after all ILV has been minted and distributed, what is the plan to incentivise holders from not selling?

[mint cave]

!revdis

[woven ibex]

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

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

[mint cave]

cant get revdis if you aren't staked

[misty prairie]

oh, ofcourse, ty

[bronze heart]

is there a market to buy ILV from

[delicate yacht]

how do i buy sILV?

[storm cedar]

sushi - what a lot of people buy from

[bronze heart]

other then sushi, like an exchange

[delicate yacht]

i only see ILV but not sILV

[storm cedar]

sILV can technically only be earned/gotten through staking as of right now. But some people are selling their earned sILV on the secondary market

[mystic thorn]

what is this secondary market

[wind walrus]

Only available on Sushi and Uni as far as I know

[mystic thorn]

and you would swap ETH for it?

[wind walrus]

Not sure. Depends how many pairs the whales added liquidity to.

[mystic thorn]

pairs?

[wind walrus]

Liquidity is done in pairs. SLP is a Pair ILV and ETH. So you need a liquidity pair in order to be able to purchase a certain token/coin. On Sushi if you want to buy silv you need to find a pair. I know eth pairs with silv buy I'm not sure if they made other pairs or not. You can go to sushi and put in another token/coin and also put in silv, if there is not a liquidity pair it will say "invalid pair" or something similar

[mystic thorn]

ok thank you

[wind walrus]

NP

[wheat grotto]

Will you get revdis from SLP? Also I’m not to familiar on how to stake SLP do I have to exchange for another coin? Atm I can only stake ILV

[wind walrus]

Yes, you get Revdis from Staked ILV and from the amount of ILV tokens in SLP

[wind walrus]

SLP is a Sushiswap token that is half ETH and half ILV. You need to swap the pair on Sushi and then stake the SLP token on illuvium. There are risks with SLP

[wheat grotto]

Great, thank you.. big decision to make now how much to stake and whether to split ILV and SLP or stake one and leave some ILV sin the wallet

[wind walrus]

Depends on how much you're going to invest and if you need liquidity in you investment

[wheat grotto]

I have 2.5 tokens atm might hold off see if the market increases to stake a bit more then also has to consider. I’m completely new to it so it’s quite overwhelming and stressful decisions to be made lol

[wind walrus]

With that amount I would choose ILV Core 52 week lock. cheaper to stake and claim but lower apy. You also won't have to worry about IL

[storm cedar]

https://docs.google.com/spreadsheets/d/1gj_tPlLzAdeReC0Ne9BcxKN2OJ6xK1nl-9JJ2YW0WWI/edit?usp=sharing

[wheat grotto]

Probably the safest option lol, whether to go all in or half it is the next decision, if I go all in I go into the game with nothing then am I right? Someone needs to do an in depth vid on staking it’s hard to understand as a new starter

[storm cedar]

You have to be mindful of current gas rates.. I would play around with the calculator above

[wheat grotto]

Thank you, I’m just learning about them also nearly pulled the trigger when the gas was 500 😂

[storm cedar]

yah id be careful right now. eth gas fee's are hot due to all the NFT action

[wind walrus]

I would put it all because you can't use ILV in game. You can choose to claim silv if you want in game currency

[wind walrus]

There are a couple of very good staking videos on YT

[storm cedar]

@wheat grotto also check the pinned messages in this channel

[wheat grotto]

Would I have to wait 52 weeks to claim the rewards then? I suppose I could build ETH to use for in game purchases

[wind walrus]

No, you can claim rewards whenever the rewards are worth it compared to the gas fees to claim

[mystic thorn]

meaning dont claim too often

[wheat grotto]

Ah! Interesting, I understand. Thank you both, can’t fault this community there’s always someone willing to help. Will certainly be needing more help in the future and on release 😂

[mystic thorn]

yessir there are also a ton of videos that you can watch to better understand the game and what to expect from it

[wind walrus]

NP, I would read through the pinned info and watch a few videos. With staking 52 weeks you get higher apy but you also get 2x weight on your tokens and that will generate more RevDis

[wheat grotto]

You wouldn’t believe the amount of videos I’ve watched since discovering the game I bet there’s a few in the same boat as me lol every video gets me more excited so much potential!

[wheat grotto]

I’ll keep an eye on those gas prices then 😉

[mystic thorn]

thats why there are so many hoping aboard because there is so much potential did you see the interview that just happened today with kieran?

[wheat grotto]

No?? I’ve been working so just been listening to podcasts on illuvium

[mystic thorn]

well there is a new one ill drop the link one sec

here you go boss https://www.twitch.tv/videos/1142466687

[wheat grotto]

Awesome thanks 🙏🏼

[mystic thorn]

its a rather long one so I hope you have some time to spare 🙂

[wheat grotto]

Holy shit 3 hours long, I’m all about that.

[mystic thorn]

ok good i watched it all Kieran is a hype boy for sure

[wheat grotto]

Yeah I heard today the brothers are total opposites ha! Thanks again I’ll give this a watch 👍

[mystic thorn]

they are one is a secret boy and one is a hype man

[neon isle]

Interview lasted like an hour and a half. The other half was an axie stream

[primal gale]

anyone else’s xyz are stuck due to high gas fee?

[unique bear]

I pulled out mine early on Sunday when gas was lower and I Coukd see XYZ price was falling. Then I staked it in SLP where it's better off! Definitely overall slight loss for me doing it

But loss almost recovered with the awesome SLP rewards

I had to buy more eth with $ to sort out the gas and suck it up as it was just gonna drown in there otherwise

Learning that always having about 0.2 Eth handy is the way forward so that you can finalise transactions quickly if you need to

[primal gale]

what makes you pick sILV instead of ILV? I am new here so would like to learn.

[mystic thorn]

You usually buy Silv if you plan on using it for in game purchases

[unique bear]

I didn't pick any sILV. I'm all about ILV. sILV is used for in game purchases

Check out the pinned messages in Staking and Token threads

[primal gale]

got it! Thanks bud.

[gleaming brook]

Your reward will not start compounding until you claim it. Is that correct?

[neon isle]

Yes

[gleaming brook]

Thank you

When the Staking V2 proposal is approved, do we know how long it will take to get implemented? I am holding off staking now because of the Gas and not sure is worth to do so…

[brisk surge]

we are not sure of an exact date yet but we are in high hopes its sometime soon

[neon isle]

Only thiny we know about staking v2 can be found here #809220563397902346 . No definite time yet

[wheat venture]

The gas fees make it a lot easier for me not to have to worry about restaking to early for it to be worth it lol

[mystic thorn]

its a pain in the butt though thats for dang sure

[kind loom]

I've not claimed since August 14th, watching my stack growing everyday.

[mystic thorn]

ahh i bet it feels so nice watching that 🙂

[kind loom]

Not growing fast enough to be entertaining tho 😅

[mystic thorn]

well the only way to fix that is to invest more babyyyy

[kind loom]

Well, I know but the amount I can afford would not make any difference hehe

[brisk surge]

thats how I feel too but in the longterm any amount now will be totally worth it

[brisk surge]

staking earns silv?

[brisk surge]

yes when you stake you can decide whether you would like to claim your rewards as ILV or sILV

i saw that silv has been added to tip.cc bot

does anyone know if rev dis is affected by how many coins of ILV someone owns or is distibuted equally?

[neon isle]

Revdis is affected by the number of coins you hold and their weight. So yes

[brisk surge]

okay thanks for clarification

[mystic urchin]

Hello how can I get the token?

[neon isle]

You can purchase the token on sushiwap

[rapid anvil]

Me withdrawing. It really costs 1k gas fee??? Or is it due to the current market

[brisk surge]

its just at the moment because of minted NFTS or something give it an hour or two it will calm down

[rapid anvil]

Yea went right back to 700 I’ll just wait

[brisk surge]

haha yeah definitley wait a little

[heady heron]

Hi guys if I want to LP stake, is it 50% Ilv 50% eth?

[honest wraith]

Basically yes

You will go to sushi swap and go to the liquidity pool and input equal $$ of ETH and ILV

[brittle girder]

I have a tricky question. If i stake 10 tokens for 12 months, and the 12 month period passes, can i choose to withdraw 5 tokens and keep the other 5 tokens staking at a token weight of 2?

[patent basin]

Staking working for everyone? Just lost 3 successful transactions and couldn’t add to my lp stake

[brisk surge]

You may have only approved the first transaction to claim pending rewards and not the subsequent transaction to stake?

[brisk surge]

Did you use the correct gas? and approve both transactions

[chilly abyss]

after my staking period. if I claim my rewards will my staking benefits(APY/weight) will lose?

[iron pebble]

If I were to stake more on SLP, do I need to claim previous rewards? No, right? I just have to get SLP again and stake it like I did the first time?

[ornate cypress]

You Need to claim whatever rewards have accumulated before you can stake again.

[iron pebble]

Damn. I'll have to wait a long time then for it to be worth. Stupid gas fees. Thanks Alex

[brittle girder]

just a heads up i just staked some tokens. estimated gas fee wazs $130, end up on being $66

[charred tapir]

Hello guys

[iron pebble]

Oh, thanks mr Burger!

[brittle girder]

Here to serve heheh

[brittle girder]

nah, as long as they're staked you'll keep the weight. if you unstake them the weight resets

[chilly abyss]

what if the staking period is done?

[brittle girder]

even if the staking peroid is over you keep the weight as long as you keep them staked

[chilly abyss]

so i have to re-stake them after the staking period is done?

[brittle girder]

nope, they'll stay staked forever unless you unstake them yourself

[chilly abyss]

I see theyre just unlocked. Thanks man!

[vital kayak]

Whoa hit 100,000 members! Awesome! 🔮🤩🎉

[vital kayak]

Hi John!

[vital kayak]

Not including gas to claim any rewards FIRST, and then gas to stake

[charred tapir]

Oi Feather!

[vital kayak]

There’s a LOT OF NFT DROPS this week, bad week to engage in gas wars

[charred tapir]

So I was asking how can I get an account? The game looks pretty awesome ;)

[junior shuttle]

An account for what?

Game isnt out yet. Most you can do right now is make a metamask wallet and buy/stake ILV or purchase nft emotes on opensea.io

[charred tapir]

Thank you mate!

Yes, I'm reading the white paper right now, so I will take the buy/stake ILV, I already have a metamask wallet cuz I invest early in PVU

[gloomy gazelle]

!Buy

[woven ibex]

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

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

[gloomy gazelle]

!staking

[woven ibex]

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

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

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

[brisk surge]

Every 2 weeks the amount of distributed rewards goes down by 3%

[untold ravine]

Why is gas so freakin' high? 🥲

[vital bison]

That is the minimum amout of ilv you can stake?

[ember ginkgo]

That is just the gas cost

[vital bison]

tx

[junior shuttle]

gas be crazy these days

[vital bison]

170 dollars gas fee to stake it. I dont have enough money. almost lost al my eth with all these transactions. very dissapointed

[ember ginkgo]

Nothing the Illivium team can do about it at this point. This is what you pay for a transaction on ETH atm

[vital bison]

im so excited about this project, just very sad its built on ETH

[errant vessel]

Yeah the gas prices of ETH are bad, but at least they will use Immutable X (L2 built on ETH) so the gas prices inside the game economy will have very much lower costs).

But I agree that the gas prices when you stake are pretty bad. They do change during the day though, so I waited for hours until the gas prices were less ridiculous before I staked. I think my gas fee was $78 or so, which is still quite bad, but not as insane as $200 at least.

[vital kayak]

There’s a ton of NFT projects drops this week especially yesterday and today, so there’s a HUGE gas war. Best to wait til Sunday to stake IMO when it’s generally lower

[untold ravine]

I'm waiting. Already spent 60$ on swapping eth to ilv so not gonna spend 200$ish for another transaction

[kindred merlin]

Hi All,
I have a Sushi LP stake that I accidentally staked as flexible.
I would like to stake some additional Sushi LP. (this time I'll remember to add lockup)
My question is:
If I withdraw my flexible sushi stake, and right after add the new amount of SLP + the withdrawn SLP in one go..
Will I end up Claiming twice (once before withdrawing old stake + a second claim before staking)
Or can I do this and somehow only claim once?

[cunning perch]

If you wish to withdraw your flexible SLP, first withdraw that. It should be added to the SLP you have in your wallet. Then stake all of it in pool and lock it if you wish. Somehow you will do more than one transaction I suppose.

[kindred merlin]

Thanks for answering.
I will of course do a transaction for the withdrawal, and a transaction for the staking.
added to this there will be some claim transactions.
My question is: If I do these transactions quick, can I then get away with just claiming once (before the withdraw transaction) or do I have to claim again before the stake transaction, even though I will basically claim <0.0001 ILV rewards because of the short gap between the withdraw and the stake transactions.

[cunning perch]

Personally idk haven't done that before 😄 I hope you don't pay a third transaction.

[kindred merlin]

ok, thank you for the comments though 🙂

[stuck rune]

tbh we need someone to write a wrapper to call both ilv and slp claims together so we can lowball the gas

[cunning perch]

Staking V2 is proposed and being considers by mods and council. You'll soon know about it 🙂

[stuck rune]

awesome!!! cant wait for it!!!

hope it reduces gas usage too!

[willow vapor]

Just watched the ILV STAKING TUTORIAL on YouTube. Seeing those 28 gwei gas fees are just insane.

[terse tangle]

I saw it yesterday and I thought the same 😆

[hot lynx]

Ok great what is V2 #🥩〕staking please share

[cunning perch]

It'll be announced when confirmation and accepted by the council. You'll know about it soon 🙂

[hot lynx]

Ok keen to know the concept thx

[cunning perch]

https://tenor.com/view/yoda-patience-you-must-have-patience-gif-15254127

[whole nexus]

Hello! I can put some 3 SLP in pool for 12 months and add some SLP after and cumulate them with 12 months too ?

[cunning perch]

you can add as many times as you want and even lock them differently to have different release dates. everything will be done based on your decisions.

[whole nexus]

thank you! you have some little documents to know how to buy theses SLP please ?? how many time gas we pay for lock SLP ?

[surreal sierra]

Had the exact same thing happen to me 😭 dont think ill make that back with the years APY with the 1 coin i own lol

[cunning perch]

!lp you will have to pay 2 gas for SLP everytime you wanna claim and will be running the risk of IL. you can read about it here

[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

[harsh mortar]

If I re-stake my ILV, what happens to my rewards? Do I have claim them and pay gas fees twice (one with claiming and one with re-staking)

[whole nexus]

Okkk so i need gas for buy ILV gas for Buy ETH gas and gas for put liquidity and have my SLP ??

[cunning perch]

whatever transaction you make on smart contracts needs gas: claiming/staking/swapping/selling/transferring....but in the game there will be now gas.

[whole nexus]

yes i know but it's correct to say that i need to pay gas three times to buy SLP and lock them ?? I would like to do that with maximum amount and not a little bit by little bit for optimize ^^

[cunning perch]

No you pay 2 gas when claiming SLP rewards, not staking SLP. For staking you just stake with 1 gas

[whole nexus]

Last question : Imagine, i stack now 3 SLP for 12 months, i claim my approximativly 100 ILV in 2022, i claim them and stake in pool and restake my 3 SLP. In 2023, I can take my ILV, buy SLP and restake ??

[whole nexus]

Yes but to buy SLP before u need 3 gas in sushi swap no ? One for buy ILV and one for buy ETH and one for buy SLP ??

[lean crown]

ummm I don’t quite understand what does a token weight of 2 mean exactly

[cunning perch]

Your stake will count as double.

[cunning perch]

Yes whatever you do on Sushi also needs gas. The gas I was mentioning are for claiming rewards in ILV website

[whole nexus]

oki and for the precedent question on timing ? 🙂 thank's

[cunning perch]

Timing? You lost me there 🙂 if you can elaborate

[whole nexus]

Last question : Imagine, i stack now 3 SLP for 12 months, i claim my approximativly 100 ILV in 2022, i claim them and stake in pool and restake my 3 SLP. In 2023, I can take my ILV, buy SLP and restake ?? 🙂

[cunning perch]

When you stake and lock, your SLP and/or ILV will stay staked even after their unlocking. Meanwhile they get Reveneue. (in SLP, your ILV matters not ETH). Literally, there is no re-staking in ILV. Whatever you claim, will compound to your stake.

[serene tartan]

Staked ILV - are eligible for RevDis, correct?

[whole nexus]

Aaaah ok so when i claim my rewards from my SLP staking theses ILV rewards are staked in SLP pool too ?
The Revdis are not on ILV ? U say "Meanwhile they get Reveneue. (in SLP, your ILV matters not ETH)"

[cunning perch]

Any staked ILV is eligible for RevDis, even SLP (ILV part of it not ETH)

[cunning perch]

No. Whatever you claim will be in form of ILV and/or silver. ILV will blocked in ILV pool. sILV will be released to your wallet

[whole nexus]

Yes ok and i can re lock my SLP token for one year ? Buut imagine i do all theses things now. In september 2023 can i restake for 1 years again ?

[cunning perch]

No need to relock it. U just don't withdraw it 🙂 it'll generate Rev for you

[whole nexus]

aaaah ok but the yield farming is done in 3 years right ? so in 2024 we will only stake ILV right ?

[manic spindle]

Yield farm rewards are limited to three years, yes. You still need to keep your ILV staked afterwards though to get RevDis 🙂

[whole nexus]

Ok coool and we will have ILV token but we need to stake to have revdis ??

[cunning perch]

Only staked ILV gets RevDis. So...staking is good 🙂

[whole nexus]

ok, yesterday i had a question but no answers : In one medium publication there is write this ( like i remember). To have RevDis we will need to play the game to maintain the community active right ??

[stable linden]

Quick question, I've got SLP currently staked, can I add to my position for the stake? Would i need to be a whole new stake with weight lock?

[cunning perch]

No hot necessarily. You play the game you pay ETH. All the ETH will b used to buy back ILV and distribute it to stakers. So the more players, the more ETH spent, the more Revenue over all and the more RevDis you get.

[cunning perch]

You can add and choose a different lock

[whole nexus]

"Instead, rewards have the option to be rolled over each distribution cycle, so that stakers can claim when it is appropriate for them, to avoid a high percentage of GAS fees. However, to encourage participation and activity in the game itself, the ability to roll over is tied to in-game activity."

[stable linden]

awesome thank you, would rewards need to be claimed first?

[whole nexus]

i reaaly dont understand and my traductor neither too, can u reformul the last phrase

[cunning perch]

You can stake it. It might claim rewards automatically too. Not sure about SLP that way tbh. Staking normal ILV claims the rewards too

[stable linden]

gotcha thanks!

[cunning perch]

It literally says what I told you 🙂

[whole nexus]

oook i have understand thank a lot

[open steeple]

67gwei this days 😍

[grizzled kindle]

When I go to claim both pools I pay two gas fees which I completely understand but for some reason it always claims the ILV pool first and then when the gas fee for the SLP pool loads up its always waaaay higher then the first gas fee, surely I'm not the only who gets this?

[steady trellis]

SLP is a more expensive transaction than ILV

Sadly have to deal with it for now

[grizzled kindle]

I just worry gas ain't ever getting as low as it was a few months ago 🥲

I only got a few ILV as rewards but I can't compound it like I was previously. It's just sitting there in hopes that gas will be nice and low someday 😂

[steady trellis]

1 ILV = 0.00270 ILV

This is what you loose having 1 ILV not stacked, per day (be careful this is an estimation)

This should help you decide if it's better to claim or leave unstaked until you have more rewards

[grizzled kindle]

Thanks, rather helpful. Maybe it's best waiting for two more ILV to stack on my rewards and claim each time I hit 5 ILV. Cheers

[steady trellis]

You can use this google sheet to help you do some simulations, claiming, rewards, and lot of other things. https://docs.google.com/spreadsheets/d/1eupQ4baU_GGR3WAk5fDrQI29O4jJcc_bd9ueaiPk-Gg/edit#gid=1042447219

I actually don't know if this one is pinned already but there is another one by Deraji in the pinned message

[grizzled kindle]

Sweet as thanks @steady trellis

[granite escarp]

Hey everyone, I want to stake at one of the pools, can someone explain me what the difference between them?

[brisk surge]

there are two core ILV pools. in the first, you stake only ILV. in the second, you use SLP tokens that you get from matching ETH/ILV

https://www.illuvium.io/staking-faq info on staking here, and you can also take a look at the staking tutorial

https://discordapp.com/channels/760344898200666112/859866659011690537/873796638735474739 here

[whole nexus]

Troooop bien que ce soit traduit en francais, la communauté francaise sera grande!

[cunning perch]

yeah gonna have to speak English here 🙂

[whole nexus]

Yes sorry h

[rigid gorge]

Hey all, has anyone experienced an issue where trying to stake additional SLP tokens (and claiming outstanding rewards) results in a "process rewards" eth transaction and nothing happens?

[lilac coyote]

#796561653922529300 check here too if someone is able to answer question for you in native language

[brisk surge]

This makes sense that the fee to for start staking is 200$?

[mystic thorn]

I know it is a complicated process and gas fees have been high all week

[brisk surge]

I bought some ILV (the gas fee was very high to) but now it’s just insane, is it better to wait for now?

[brisk surge]

i would wait for lower gas personally.

How much is consider as low?

[brisk surge]

50 is great, 60-80 is generally what people look for nowadays...unfortunately

[mystic thorn]

Used to be like 20-30 but maybe it will go down that low again in a month or so

[brisk surge]

But why the gas fee for swap in sushi for example is now 65$ but for staking is 200$?

[mystic thorn]

The staking process is more complicated so it requires for gwei

[brisk surge]

So when you say 20-30 you talking about a swap gas fee right? Or there is chance that the staking gas fee will go to this prices?

[mystic thorn]

Probably the swap fee stake will be like 60-70 at that point

[brisk surge]

What I want to know is what consider as a good price for the staking fee? And thank you for all the help and answers

Now the fee is 940$ it’s insane

[cyan rampart]

Gas is insane right now, I would advise against staking at the moment

Typically I'll wait for gas prices to be between 60 and 80 to do any transactions. It should cost something less than $100 to stake.

[brisk surge]

Understood. Thank you very much

[prisma temple]

Is it bad that I might just save my eth and buy land instead of staking ilv 🙊 I just can’t time the gas right

[mystic thorn]

That’s not a crime but in the long run staking to get you a lot of rewards

[prisma temple]

For my chunk of money I may have enough for a plot of land but the gas will take like 5-10% out of it right away if I stake

[mystic thorn]

But you will most likely make that gas fee back with rewards when staking for 52 weeks NFA

[muted timber]

is it expected that eth 2.0 shard chains phase will greatly reduce our gas fee for claiming?

[mystic thorn]

Yes that’s the plan

[muted timber]

couldnt come soon enough!

[cyan rampart]

Between shard chains and #809220563397902346 message
we should be in gas heaven!

[prisma temple]

I would most likely stake for 6 mo. Would it make sense then?

[cyan rampart]

You'll have to do the math for yourself on whether you'll benefit from staking. APY is annual percentage yield, and it generally decreases over time, so account for that. Pick an APY you think is about right (between current and some potential future APY), work out what you'll return over 6 months based on your investment, and compare that to the gas cost of staking. NFA of course.

[muted timber]

very curious to see what this staking v2 IIP is gonna be

[misty prairie]

so many different trx have to take place in the staking process with these high gas fees, it seriously costs from $300-$500 just to stake

[mystic thorn]

thats why you gotta wait for the perfect time to strike at like 110

[misty prairie]

even with each trx gas at 110, there are like 5 or 6 trx total you have to make

[mystic thorn]

that is true

[covert sage]

After I stake and chose to ILV for rewards. I can pick silv sometimes instead of staking my ILV for 12 months.

[umbral kite]

U choose ILV or sILV everytime you take rewards

if there was no gas or other costs price u could take ILV tomorrow and sILV day after tomorrow

[covert sage]

SILV comes in the day you pull it and ILV is 12 months out correct?

[umbral kite]

Yes

[covert sage]

When is the land sale, will we be able to use SILV to buy it?

[next ruin]

Yes, sILV or Eth. No firm date yet, estimated end of Oct / Nov.

[covert sage]

Will the land be NFT's and are they going to sell anything else other than land. I wanted to know if I could start building a deck with my sILV then?

[next ruin]

Yes, lands will be NFTs. There won't be any Illuvials or main game gear sold before launch.

[covert sage]

How much land is going to be for sale and about how much is it going too go for.

[next ruin]

#🎮〕illuvium-zero is the channel for land discussion. I don't remember how much of each tier will be sold in the first sale (10k plots total, I think). And it is going to be a dutch auction, so don't know how much they'll go for until it happens, really.

[shrewd river]

Is the ~3% drop each fortnight in staking rewards directly reflected in the APY % shown in the pools?

[eager rover]

Yes

[clear cape]

Yeah but dont get it confused, the apy can go much lower than a drop of only 3% every fortnight

[shrewd river]

right, of course. based on total amount staked in each pool. and probably some other wild factors that affect the LP pool.

[cyan rampart]

SLP be like

https://tenor.com/view/hyper-x-hyper-x-family-valkyrae-math-finals-gif-17732062

[shrewd river]

haha for sure. I just know it PUMPS out the ILV rewards tho 😛

[next ruin]

https://tenor.com/view/confused-no-nope-gif-13134027

[mighty bolt]

Has this question ever coming up?

Will there be a time where we can add to our stake without withdrawing rewards?

Example Coinbase’s eth2 aspect. I can add to it, can’t pull out at all no@matter what though. Until approval date of course.

[mighty bolt]

I thought it was 20 #IZ - LAND Dutch Auction Discussion

[cyan rampart]

I've seen it asked before!

[mighty bolt]

In search mode now thanks!

[cyan rampart]

I didn't mean to send you on a goose chase haha - Check out Aaron's post here. #809220563397902346 message

[mighty bolt]

No worries! I actually do not mind searching, teaching my self code i have added googling to my skills lol and feel like i retain the info better. But thanks! I actually seen that, but haven’t read the proposal in full yet. At work and working it in.

Side note*
But seriously googling is a skill😅. Know all the different little secrets and stuff make your search more powerful

[cyan rampart]

My discord search bar is permanently set to Aaron and Ben's posts lol

[mighty bolt]

Huh i never thought to do that haha. We just type in their display names right?

[cyan rampart]

Yeah, type in part of it and it should autocomplete. On PC it shows up with their full name and discord ID

[hot lynx]

Hi everyone any details on version 2 #🥩〕staking ... Other than be patient 😂

[cunning perch]

be patient 😄

[mighty bolt]

It works i can search for aaron but it give me a DM lol Not sure if i can see posts via iPad

[misty prairie]

If you lock in your ILV and your ETH to SLP at a certain cost, does that cost reflect in your SLP as the cost of ILV and ETH change?

[cyan rampart]

https://tenor.com/view/mr-bean-waiting-still-waiting-gif-13052487

[next ruin]

The SLP value on the dashboard should update with the current price of the SLP token, yes.

[cyan rampart]

Specifically, the way it works, is when you stake your SLP token, you now own a percentage of the pool. The composition of an SLP token (i.e. how much ETH and ILV is contained in a SLP token) will not change your ownership of the pool.

If both ETH and ILV go up, your SLP token is worth more, but you don't own more of the pool (everyone's SLP token changes equally)

Same same with any change to ILV or ETH price - everyone is affected equally.

[misty prairie]

Awesome! Thank you 🙏 @next ruin

@cyan rampart, thank you as well. That makes sense.

And if I lock in for 12 months and then I lock in more funds a month later, are they locked in for a new stake of 12 months or do they join your other tokens for 11 months?

[cyan rampart]

If you lock another new stake, you create a new staking instance, so it will be for 12 months (i.e. will not join your initial stake).

However, your rewards will accumulate together into a shared rewards pool for the SLP.

[misty prairie]

Ok, cool 🙂

[warped anvil]

It sure does!!! I'm set to earn around 2 ILV a month, which probably isn't a lot compared to many of you, but I'm so stoked about it!

[ivory sun]

Hi. Im planning to unstake what Im currently staking to re-stake it with locking. Is there a way to minimize gas or is it just the same? I plan to collect reward first then withdraw then re-stake. Thank you

[cunning perch]

Hey. The best you can do is wait for gas to get cheaper. Maybe try in the weekend. It may or may not be cheap then.

[ivory sun]

Thanks. Gas is such a pain on ETH 😦

[wide eagle]

best time is sat and sun between 1 am - 3 am GMT minus 5. i got my best rates then

[cunning perch]

well Sundays have been favorable too. Although we've seen 60-70 during the week too. But yeah. Late night GMT might work if yo u can stay awake that long 🙂

[warped anvil]

🙂 When I staked my SLP I had to set an alarm for 3am. It was totally worth the sleep deprivation lol

[cunning perch]

well. efforts will not go unanswered....mostly haha 😄

[wide eagle]

rather make it 2am if your setting an alarm. 3 am might upset you if it spikes because someone wanted a Pixelated gorilla🤦‍♂️

[warped anvil]

I got lucky. I guess that person wanted a pixelated animal on some other ecosystem. But you're right, I should've woken up at 2am.

[shrewd river]

I blame the degenerate NFT traders for our back-breaking gas prices 🙂

[mighty bolt]

I am one of them….i have an egg they gave me and 2 🐧 😬