🥩〕staking

[misty prairie]

@cyan rampart, @next ruin or anyone, if I’m wanting to compound my rewards back into my stake, is there a simplified compounding process or is the only way to compound it to withdraw the ILV rewards and go through shushiswap for the SLP and back to the illuvium pool all over again?

[brisk surge]

If you want to stake more into the SLP pool then yes, however when you claim your ILV it is automatically vested in the core ILV pool for a year. Meaning you would need to wait a year to be able to claim your vested rewards, match that ILV to ETH, and stake your SLP tokens

[covert sage]

You will have to silv for that

Does anyone know much we make off the game per token?

[misty prairie]

So 100% of the rewards we earn through staking remain locked for a full year after the time we choose to claim them?

[misty prairie]

How does silv come into play?

[manic spindle]

No, only yield farm rewards in the form of ILV. yield farm rewards as sILV and RevDis in the form of ILV are unlocked right away 🙂

!claim

[woven ibex]

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

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

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

[manic spindle]

!silv

[woven ibex]

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

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

[brisk surge]

Yes, kind of. all ILV rewards are automatically staked when claimed. sILV is claimable right away

[misty prairie]

So that all makes compounding extremely difficult… impossible really. Because you can’t compound any of your rewards from the SLP pool back into the SLP pool for a full 12 months.

[brisk surge]

It makes compounding the SLP pool difficult but when you claim your ILV rewards they are automatically put into the ILV pool, compounding the further rewards you receive there

[misty prairie]

Sure, but at a 76% APY opposed to over 500%…

But I guess everyone having the ability to compound in a 500% APY pool would be unsustainable

[swift spindle]

You're really complaining about a 76% APY? What's your bank paying you lol

[misty prairie]

Lol damn bro

[swift spindle]

Well cmon haha the ILV compounding is still a great "reward" for the SLP stake "rewards" that you get at over 500% currently

76% is far from "makes compounding extremely difficult..... impossible really"

Imagine the S&P500 growing at 76% in a year, have a tough time finding a single person in the world to complain about that 😛

[misty prairie]

No, you’re definitely right.

These are just details I didn’t catch while reading the medium articles and have to reevaluate the approach I previously had in mind. It’s still life changing

[wind walrus]

There is a lot to learn and take in. The reason the SLP has higher rewards is because there is higher risk.

[misty prairie]

I also just recently locked away a good chunk of money thinking I’d be able to withdraw the rewards if I needed to for bills. Knowing that isn’t actually an option makes things difficult

[brisk surge]

because they are locked for 12 months?

[mystic thorn]

Yes but just think in a year you will have big bucks

[mystic thorn]

He thought he was gonna claim ilv rewards and sell those for money not know that those also get locked for 12 months too

[wanton rose]

What percentage of the supply is staked? Anyone know where I can track?

Also, what is version 2 of staking? What's up with that? Is it just more flash pools?

[gleaming brook]

I was trying to add liquidity to the ETH/ILV pool. I did not realised that such transaction take longer to complete and I cancelled the request. And was charged $7.00 for moving 0.00 ETH from my account to the same account... Any idea why this happen? Thank you

[brisk surge]

if you go to their page online you can see total distributed and total amount staked

[wanton rose]

awesomez

[hybrid terrace]

hi fellas! Is there a way to claim only the ILV from sushi LP rewards and bypass the claim from ILV single staking? would that be accomplished by rejecting the first transaction and accepting the 2nd one?

[brisk surge]

exactly

[arctic lake]

If you have a long term view on ILV, can someone explain to me why everyone doesn't just stake their ILV for 12 months to get the 500% returns? I'm thinking of exchanging 1 eth into ILV and staking the ILV for 12 months.

The only risk is ILV goes down, right?

[brisk surge]

the 500% return is only for SLP which is far riskier

[arctic lake]

Obviously the liquidity too, but if you're holding long term anyways 🤷‍♂️

[ruby topaz]

From what I understand no. U need to claim both together. I would be very happy if u could just claim the slp rewards. Hope I’m wrong and someone can correct me on this lol.

[arctic lake]

Hmm what's SLP

[brisk surge]

i think someone was talking earlier that they sucssesfully claimed only one but maybe i misread it

[brisk surge]

it is a token you receive by putting in half eth and half ILV

[glass carbon]

not yet

[ruby topaz]

I c. I actually asked this question before if I have a choice but I think the reply I got from the mod was no. U need to claim both at the same time.

[brisk surge]

ah yeah your right my baad

[arctic lake]

For something that's probably so simple, trying to understand staking is so confusing lol

[ruby topaz]

It would be great to have that option though hahaha. Claiming rewards from ILV pool is often so much lower than the gas itself lol.

[brisk surge]

yeah there is a really good video showing you all the steps I could link if you want

[arctic lake]

That would be amazing. Just looked for the sushi lp coin in sushi but it wasn't there

[brisk surge]

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

[dire ridge]

am I locked in for a year if I just stake ILV in a core pool?

[glad musk]

@dire ridge You choose how long you want it locked in for, from not locked at all(Flexible) to locked for 52 weeks. Locking it up longer increase the weight of the investment and increases rewards proportionally.

52 weeks locked gives a full 2x weight.

[dire ridge]

i did not locked at all but my rewards im unable to claim until 12 months correct?

[glad musk]

@dire ridge You claim them and if you claim ILV, it's basically staked for a year and you earn on it for that year, or you can take sILV for immediate availability but only inside the game economy.

[dire ridge]

gotcha ty sir

[glad musk]

Happy to help! Super enthusiastic about this project.

[dire ridge]

yea i bought and staked pretty early just checking in on my funds 🙂

[swift spindle]

Wow, dipping into 60 GWEI territory.. what a lovely day

[gleaming brook]

So when we try to purchase SLP to stake, we will be charge gas fee for 1. for approving ILV spend limit, 2. for adding liquidity and 3. for staking the SLP?

[brisk surge]

yeah the gas has been beautiful the past couple hours

[wheat venture]

Honestly I wasn’t expecting the staking rewards to go down so fast. But at the end of the day it’s all about the rev dis and ilv value appreciation I guess

[warped anvil]

**Reads this and immediately runs to go claim tokens... only to find it shoot back up to 100 gwei 😆

[loud flume]

Please confirm …SLP and ILV staking will go for 2 years (mid 23) with all vesting completed by 3 years (mid 24).
And ..if locked for 1 year in SLP …do we have the option to lock again at the end of the first year for enhanced APY?

[wind walrus]

Yes, With the re-staking for more APY, you can once the lock period ends. You don't need to pull it out when the lock period ends if your happy with the apy. You can leave in in and continue at the current apy and keep your 2x weight

[loud flume]

Oh great. So just let it roll indefinitely (well up to another year). At 2x

[wind walrus]

Yep. Just be careful with the IL and lower APY with SLP. As the APY gets lower and game launches the risk of IL might not be worth it

[dark bear]

Guys, i am from a poor country so me and my friend want to buy 1 ILV together, my question is if we use my wallet to stake and claim the sILV, can I send the sILV in my wallet to him? so we can share the sILV in game? thanks

[wind walrus]

Yes, you will have two transaction fees. One to claim and one to transfer wallets

[loud flume]

I am assuming you are referring to ILV appreciating far more than ETH.
I am not too concerned there as ILV Gained through staking would be far greater than any IL.

[wind walrus]

Yes, atm the apy makes up for IL but by next july the apy will be around 250%. Then going into year 3 will be even lower

[loud flume]

3rd year I thought was just vesting

[wind walrus]

No, the YF will last for 3 years. It started this July. Sorry I didn't catch that with your first post on dates

[loud flume]

Ok. Well plenty of time to review. Cheers

[wind walrus]

Yes, a least a year maybe two at max. Then you might want to move all into ILV Core

[loud flume]

Will be interesting where the price is in 3 years …exciting times

[mighty bolt]

If things do not get monetized like MLB(baseball) did and keeps giving back to the players as they have it set up now. Shooooooooot this game is shooting for the moon./

Even if it missing it’ll be amount the stars 🌟 💫 🌟 lol

[brisk surge]

question around the staking, ive alreay staked a eth a week ago but am wanting to add to the position. Can i do this?

[ripe steppe]

if you are already staked in SLP or ILV pool, you can stake on top of that additionally no problem, when you stake this time round you will be charged an additional gas fee however as any staking rewards you have earned from previous staking will have to be claimed before staking (this happens automatically simultaneously when you stake additionally) (what do you mean by staked ETH though? do you mean in the SLP pool?)

[brisk surge]

sorry yes was meaning the SLP pool

im fairly new to this SLP so just need to confirm, in order to add more to my SLP position i just need to repeat the original process of buying ILV then adding the LP with sushi swap then over to the Illuvium site to restake? hope i made sense

[ripe steppe]

exactly the same process again yes

[brisk surge]

yeah it didnt stay down for long

[dark bear]

!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]

thanks

[steady trellis]

Added another 5.8 SLP ..... 😐 .... now I'm not anymore in my comfort zone 😐

[ripe steppe]

your future self will thank you

[lean crown]

does a coin weight of 2 mean that I’ll get double the amount of coins staked?

so if I staked 5 coins for 1 year does that mean I will have 10 when unlocked?

[ripe steppe]

it means you earn double the amount of interest than if you would if you had it staked without locking it as for the interest or APY, that depends on the pool you stake it in

[lean crown]

ah okay thx man

welp it’s down for 1 year now, hope it gets to the moon🚀

[ripe steppe]

so if you staked in the ILV pool at 2x weight you would get 74.95%APY , if you staked with 2x weight you would get half of that (also the APY falls by 3% every 2 weeks, also the more people that stake in the pool the APY also decreases as the yield has to be shared out amongst more people)

[subtle swan]

Any update on what the next flash pool will be?

[lean crown]

crystal clear now🙏

[ripe steppe]

none have been confirmed and as far as I am aware a vote went through recently delaying the next flash pool, when it does come out it will be in #📣〕announcements

[subtle swan]

Thanks!

[ripe steppe]

congrats bro! which pool did u stake in out of interest?

[lean crown]

ILV core poor, I’m too pussy to go for the sushi one🥲

[ripe steppe]

still though, congrats, and you'l be getting that sweet sweet revdis as well when land sales happen also

[subtle swan]

you'd lose a lot of ILV from impermanent loss on the sushi one

[lean crown]

thx man🤟

[lean crown]

exactly why I didn’t do it🥲

[ripe steppe]

compared to how much you get in rewards in the SushiLP it literally doesnt even matter imo

[lean crown]

it’s for you risk takers out there🤟

[ripe steppe]

https://tenor.com/view/risk-it-to-get-the-biscuit-fired-up-fired-up-pump-gif-16753028

[brisk surge]

Is there a time limit on the contract interaction of claiming ILV rewards?

@exotic igloo

https://c.tenor.com/Stc8BgwXDi4AAAAM/tumbleweed-crickets-chirping.gif

[noble bridge]

you and me both my friend

i seem to just keep adding

my diversified portfolio starting to look like a jeff meme for ILV

[brisk surge]

thats what just happened to mine too lol

[noble bridge]

@mint cave please add ILV to this pic:P

[elder dawn]

@steady trellis and @noble bridge I feel awkwardly responsible for both of you.

[noble bridge]

your math is to strong

[steady trellis]

I still have a lot of $ in boring funds

[elder dawn]

Yes it should, though I've never not been able to watch to confirm. There is always a chance if you set gas very low it could fail.

[steady trellis]

I definitely need to spend time outside of my google sheet looking at the numbers 😆

[steady trellis]

Ahah this one need a Illuvium theme for sure 😄

[noble bridge]

i see your sheets in my dreams and also my nitemares haha

[rocky portal]

Hi guys, just have a question on staking.

If you stake into SLP and claim ILV rewards, do those rewards go automatically into Core Pool or is there a way to withdraw it in order to restake into another SLP.

If you have ILV in a Core Pool and SLP, when you click claim rewards, is that an aggregate from both pools?

[elder dawn]

All rewards are claimed into the ILV pool regardless, where they vest for 12 months. No way to add them to the slp

[noble bridge]

if ilv works or it doesnt my life wont change at all. So its all fun money and at least our convos give me some confidence that i am at least maximizing my investment strategy

[steady trellis]

https://tenor.com/view/nightmare-bart-the-simpsons-scream-ahhh-gif-5575508

[rocky portal]

Thank you. Is it possible to create another SLP and add that on top of existing SLP?

[steady trellis]

Yes you can add as many slice of SLP as you need / wish / want / can / must / ...

[elder dawn]

I was responding to someone else on metamask questions. As you and I have discussed, I'm in the mantra "and its gone" and here's to hoping we have an amazing Illuvium convention somewhere when this works.

[rocky portal]

Thanks

[noble bridge]

if it works i definately owe you and lelahel dinner and drinks:P

[elder dawn]

And if not, I'm still for getting together and the drinks are on me.

[noble bridge]

haha same

[steady trellis]

It's going to be an exciting 6 months

[noble bridge]

my wife would thank you if she didnt have to hear about ilv

[steady trellis]

Mine is fed up also and told me "OK NOW NO MORE !"

[elder dawn]

I still win. I updated mine and she asked if we should stake more. Either that, or I live with an enabler.

[noble bridge]

otherwise its banned material

[steady trellis]

I just wonder how the delay, the land sale, the marketing until release, and any big news they may keep secret will affect all of this. Stacking, ILV price, etc...

[noble bridge]

my wife actually asked me if she should invest after i showed her the value of crypto punks and nft's but if I lost her money I would never hear the end of it.....thats one risk I am not willing to take haha

[steady trellis]

Smart

[elder dawn]

Pretty sure we shifted the channel from staking advice to staking support group. Still on topic!

[steady trellis]

Well @noble bridge you've a load of money into ILV already, you can retire easily anywhere in the world if all work well (big IF)

[noble bridge]

rofl

[steady trellis]

Mental support is important it also a community advantage and show some of us are going big on stacking, I'm sure it's still related a bit to the topic

[noble bridge]

i hope our next convo 3 years from now is who knows the best crypto tax accountant

[steady trellis]

I'm currently living in Singapore, so .... no tax, nothing ... yet ....

[elder dawn]

I already shared my St Kitts plan. We'll see if Gensler forces my expatriotism. Or, I need to start evaluating Singapore. I know a guy now...

[gleaming brook]

My wife don’t know 😅

[meager quartz]

hi there

[noble bridge]

gah I am paying 40% tax rate

[elder dawn]

Welcome to the support group.😋

[meager quartz]

I am trying to back out how much ILV i should be receiving for providing liquidity in the ILV ETH sushi pool

[noble bridge]

singapore is sounding really nice about now

[meager quartz]

where do I see total pool rewards per day and what % of the pool I am?

[noble bridge]

puerto rico and cayman are the popular crypto havens, for U.S residents

[elder dawn]

Staking or Sushi pool rewards? Staking is the big one. Your staking reward math is daily ILV = (Your APY x your $ staked) / (price of ILV x 365)

[meager quartz]

im staking my sushi lp tokens on the ILV website

Can you tell me how many ILV are rewarded each day and where I can see what % of the pool I am. Presumably its (total rewards/day * % of pool)

[steady trellis]

You can't. But on the dashboard you can see your current value of SLP staked. And if you go in "Core" you can see to total value staked in either ILV or SLP

[elder dawn]

You get both, sushi pool rewards is a minor component. Equation I just shared is your major rewards. Just remember apy changes often. Percent of pool is insignificant

[wheat kestrel]

Deraji, since your here, just want to say love your blog posts and spreadsheets. Incredibly helpful!

[meager quartz]

Sorry I only see the number of SLP tokens I have staked, no monetary amount for my stake

[elder dawn]

I have a new post and spreadsheet going up tomorrow that will calculate that for you. Just need your number of slp and I'm tracking daily rewards. (Blog link in my bio)

[meager quartz]

im keen to understand the math myself. My rewards have gone down a fair bit recently

[elder dawn]

Use your illuvium.io dashboard. That will show your current $$ value of your slp.

[steady trellis]

You should see the USD value bellow. And FYI, unofficial number, maybe it's not calculated correctly, but today there will be 4907.05 ILV rewarded for stackers.

[meager quartz]

Do you know the relationship between $ staked and the number of slp tokens I got

[steady trellis]

Check Deraji's sheet, or mine, you've load of calcualtion inside them

[meager quartz]

nope. Staking > Core > details, just shows number of SLP tokens

I imagine there are say 100 ILV for example a day and that if I help 10% of the SLP tokens I would get 10 ILV but maybe that's an over simplification

[elder dawn]

The real math is number of reward ilv issued per day divided by total weighted number of SLP staked. It's around 0.082 ILV per SLP per day at 2x weigh today. Weighting (locked timing) makes it more complicsted

[gleaming brook]

Can someone advise how to add SLP to the Ledger? Many thanks

[meager quartz]

thanks. So we need to know the total SLP outstanding to understand the weight per SLP token staked

[meager quartz]

feels about right

[elder dawn]

So, you are correct, percent of pool is relevant, but due to weighting, it's tough to use that way

[meager quartz]

so if there are 4907 ILV a day and approx 80% are for ILV ETH pool stakers, then that's 3925 per day for ILV/ETH SLP holders. If you say its around 0.082 ILV per SLP there must be around 48k SLP tokens

[elder dawn]

Are you already staked or still in the process? If already staked, you can't move it until it unlocks

[gleaming brook]

I have not stake yet. It is shown in Ledger wallet on MM. But not appearing on Ledger Live

[untold ravine]

Any update on staking v2? Gas is still expensive for me

[elder dawn]

Lelahel already broke down the SLP share. It's about 67k SLP staked right now

[gleaming brook]

That's my next problem after getting SLP into my wallet

[steady trellis]

4907 for the SLP, i think we are at around 68k SLP staked or something

[untold ravine]

Everyone's problem I guess

[steady trellis]

No update yet, soon

[gleaming brook]

$124 for me now 😫

[mint cave]

the proposal should be submitted soon. however, implementation will take a couple months.

[elder dawn]

If the slp is in your ledger wallet, the next step is staking on illuvium.io. and yes, gas sucks though lower tonight than most recently.

[gleaming brook]

I am going to check Gasnow every 5 minutes 😂

[gleaming brook]

Thank you. For some reason, it is not showing on Ledger Live on my laptop

[untold ravine]

I've done that in the past 36 hours I guess. It fluctuates between 200$sh - 100$ish

[gleaming brook]

I am in Asia time zone. Waiting for the American to sleep 😀

[untold ravine]

Thanks for the update, both good and sad news for me. Anyway life must go on

[elder dawn]

Yeah, it can go higher at mid day peaks. That's "normal" for the slp recently. About 6-7 hours from now tends to be the "low" period.

[rain belfry]

wish you could buy direct on the staking site from fiat would save hundreds in gas fees ild buuy up bit but right now its 1/3 a illv in fees by time you go metamask to sushi to stake

[elder dawn]

I'm sure eventually ILV will get listed, but no time soon. Until then, get ETH before you get to Sushi.com to save some swap fees.

[steady trellis]

i saw it was listed on OKEx. But won't solve staking fee.

[warped anvil]

Will someone please explain what the staking V2 proposal is?

[steady trellis]

We need to see the proposal first, for now we don't know.

[warped anvil]

Ok thank you.

[gloomy gazelle]

It’s a proposal to address some of the issues that people face with current staking contracts. It will take a couple of months before it could be properly implemented. But the proposal will make things clearer than my vague description.

[granite halo]

With the way blockchain tech is, it would be impossible to move V1 contracts to new contracts right?

Not sure why it quoted that user.

[wheat grotto]

I have $180 ETH and my gas was $110.. it still wanted me to buy more ETH to complete the transaction can anyone explain that? That’s fucking annoying 😃

[gloomy gazelle]

What’s the transaction? Staking or swapping

[wheat grotto]

Staking.. wanted to stake the ILV in my wallet but it’s saying I need to buy more ETH even though I have enough

[gloomy gazelle]

Sounds weird. My guess is high gas price fluctuations. Maybe set gwei lower and wait for it to process.

Oh some staking transactions require multiple transactions. I doubt metamask would be able to know that in advance though.

[wheat grotto]

How do I do that on meta mask? Had it at 68 earlier wanted to stake what I have.. the APY is creeping down the long I leave it 🥲

[gloomy gazelle]

There’s a metamask video pinned in here. I’ll share it soon if you can’t find it.

[wheat grotto]

I’ll have a look thank you 🙏🏼

[gloomy gazelle]

#🥩〕staking message

[wheat grotto]

My app has no where to set priority.. I’ll have to check on the chrome later, hopefully gwei is low over the weekend at some point

[versed oasis]

Hey guys. Went for the flexible staking. How is unstaking working ? There is no unstake button available

[gleaming karma]

Hi.I put a Staking transaction and like gas was going up and speed up the gas fee.
So my "principal" transaction got dropped and replaced..That transaction was completeed.
The completed transaction has more than 70 confirmation but in game still no confimation on staking.

[gleaming brook]

Just got my SLP staking done at 65. Same thought as you

[neon isle]

how much did it cost you in total

[gleaming brook]

$12+$95 = $107. I am hoping to recover from the APY in a few days 😓

[still kindle]

Hi Guys, Ive just seen gas in the 50s.... for the first time in a long time... just a heads up

[ember ginkgo]

Gonna moon again soon right

[unkempt cairn]

Hello community! I have retired sILV, there is no way to see it in metamask right?

[still kindle]

Hi Xan, you can see sILV you hold in MM - you need to add the siLV token using the contract address

Once the token is imported your MM sILV balance should match the balance shown on the illuvium dashboard

[unkempt cairn]

Thanks @still kindle The problem is that I cannot find the sILV contract, only the ILV contract

[still kindle]

If you go to token and look at pinned messages the sILV contract is there

[manic spindle]

!contract 🙂

[woven ibex]

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

[still kindle]

Thanks Stormi. Congrats on your council election by the way, delighted you were elected !!

[iron flower]

Hey, I'm about to stake some ILV but I just got this notification. Am I going to get hit with double gas fees to stake?

[unkempt cairn]

Very grateful @still kindle @manic spindle @woven ibex I already have it

[unkempt cairn]

Yes, two transactions to withdraw

[iron flower]

oof

no rush on staking ig I'll have to wait till the gas is something like 50 cuz I ain't tryin to pay hundreds for like 0.02 ilv LOOL

[untold ravine]

Would it be safe to tamper gas settings? Like lowering gwei? I did a transaction earlier and altered the gas limit as recommended on gas now. Unfortunately the transaction failed

[cunning perch]

Better not to temper with it. I always do fast with raised limit and it mostly gets done under 1 minute.

[untold ravine]

Yeah I guess I figured the hard way. Thanks anyway

[gleaming karma]

u can lower the gwei but u never touch the gas limit.

[untold ravine]

Okay thanks for clarifying.

[viscid ferry]

Which one of the recommended gwei on gasnow did you take? I did the same the other day.. took the 'Fast' gas.. and the transaction went through fine..

[untold ravine]

Not the gwei, I altered the gas limit. I'm already done with it though

[sonic wolf]

Did anyone notice that gas amount/cost increases with amount of ILV staked?

on my other account I just did claim and it cost me around 250$ for both transactions. Then claimed on my main account, fucker cost me 1600$ to claim.

[unkempt cairn]

A subtle question please ... What does it really mean to be ILV holder? Have the tokens in the wallet or have them staked?

[digital kindle]

I remember rahlord saying it's a minting contract, so more ILV rewards means more gas. But I'd also like to get confirmation

[unkempt cairn]

Can not be! To put more tokens in staking it forces me to withdraw from sILV .... noooo, more and more fees ....

It is the same to remove it from staking, you can not remove a part or all or nothing ... buf

[gleaming brook]

Is the APY for the Sushi LP pool calculated on the ILV portion only? Thank you

[primal zodiac]

its on the entire position. ETH + ILV

[gleaming brook]

Ohhhh great! Thank you

[cunning perch]

you actually paid that? damn....that's the entire position of some ppl lol

[open steeple]

what the hell, should be a big bag ahah

[wind walrus]

Did you look at etherscan and see what the Gwei was at the time of claim?

[kindred osprey]

hello guy i'm new here
i wanna know that if i have 1500 usdt
which pool is better to stake in your opinion?
I did the calculation but not sure i'm right

ILV - 3ILV - you get 3x 0.2 = 0.6 ILV in 3 years (total3.6 ILV)
sushi - 1.5 ILV - 3x 0.8 = 2.4 ILV in 3 years ( total 3.9ILV)
but in sushi you risk impermanent lose
and paid more stake gas like 3 times?
.
so what's your suggestion for small investor?

[wind walrus]

Good job on running the numbers. For a smaller bag I suggest ILV Core. Less risk and lower claiming fees. Plus you also have more ILV for RevDis

[kindred osprey]

thanks bro i wanna stake in ILV pull but so many people tell me SLP pool is better

1. another question how many ILV to consider staking in SLP pool?
2. do rev dis count the ILV of dev that not unlock yet?

[olive gust]

hello.. i see that xyz flash pool is completed.. how do i unstake my xyz?

And if I claim the ILV on xyz, will the other ILV reward from other pool will be claimed as well?

[wind walrus]

SLP pool cost more to Stake and more to claim. That eats profit. I would say 4k+ in SLP. It cost me around 150-200 USD every time I claim. RevDis will be paid to each ILV you have staked. Either in ILV Core or SLP. It doesn't count toward ILV that has not been claimed yet

[wind walrus]

I haven't used the Flash Pool yet so I'm not much help. Hopefully someone more knowledgeable will jump in

[kindred osprey]

thanks for your time bro

[olive gust]

thanks

[cunning perch]

Hey. YOu can always find your tokens in the "vesting" section to unstake. Also, if you choose ILV as rewards, It'll get locked in the ILV pool with a weight of 2X (for one year)

[olive gust]

i just did it.. yep i saw it in the vesting section.

[wind walrus]

Just to add to my knowledge, when someone claims ILV rewards from Flash Pool does it also force them to claim ILV fro SLP and Core?

[winter aspen]

Is there any way to Claim ILV from Sushi LP without claiming from the ILV pool? At the momment it activates two transactions, from which second one is Sushi LP, hence making it impossible to avoid two transactions

[wind walrus]

Np, welcome

[cunning perch]

I don't think so. If you're claiming ILV only rewards from the ILV pool, Then it should just be ILV. if you're claiming SLP rewards then you have to do both.

[cunning perch]

claiming SLP always require claiming from both pools hence paying 2 gas

[terse tangle]

It is similar on the other way? Claiming ILV pool force you to claim SLP?

[cunning perch]

No. claiming ILV pool is just claiming ILV pool rewards. But makes sense to wait to claim SLP as it also claims your ILV. so pay 2 for both pools. My opinion.

[terse tangle]

Cool! thanks!

[fresh basalt]

I have a question with regards to staking if I staked 1 ETH- 7 ILV ( or 1 SLP). This means that 7 ILV is locked on my end but the same 7 ILV is available to other people because I am providing liquidity right? And that person who let us say buys my ILV on Sushi, would then be able to stake it again? In short, that initial 7 ILV would be staked several times by several people? I am not sure if that is how staking works…

[sonic wolf]

I had to wait two weeks between my claims to make it worthwhile

[marsh oyster]

you choose what ? and you need to pay just after staking ?

[cunning perch]

No when someone buys your ILV, it's lost to you. you have staked the SLP token to get YF rewards, but actually get Revenue based on the ILV part of your SLP, so ETH in it doesn't count. Make sure you fully understand the concept of Impermanent Loss.

[cunning perch]

yeah I hope it was worth it. Well you were a shark at the beginning and now a whale. I wouldn't worry about gas haha 😄

[fresh basalt]

Yea so this is actually I am getting a little confused. Let us say in my previous example there are only 7 ILV in circulation right. So I staked 1 ETH and 7 ILV in the pool. So another person would buy that 7 ILV and stake that 1 ETH and 7 ILV again. Let us say Revdis happens, so that actually means that Revdis would be divided into 14 ILV shares right although there are only 7 ILV originally in circulation? (assume ceteris paribus, all things being held equal)

[sonic wolf]

its probably based on $ amount staked

pure speculation though

[iron glen]

How much ILV rewards should you wait for before claiming from the main pool? It seems to be beneficial to claim sooner rather than later since the rewards are then staked so you compound faster. But obviously the gas fees hurt so you can’t just claim every day. What’s the optimal amount assuming reasonable gas?

[brisk surge]

just depends on the gas fees at the moment and how much you feel like taking out, you could probably do the math and figure it out im not sure if someone has or not

[iron glen]

Yeah that’s what I was wondering whether anyone had actually done the math

[brisk surge]

I feel like I saw somewhere there was someone who did it but im not positive maybe ask @manic spindle

[manic spindle]

I think there are some calculators from other community members pinned in this channel 🙂

If not, I'm lost as well, sorry. Don't have any calculator myself or so.

[iron glen]

Thanks I’ll have a look. If not I might have a go myself

[shrewd river]

Well the simple math is your rewards times 1.nn (where nn is the current apy of the single pool) then divided by 365 then multiplied by current ILV price. That will give you the amount those rewards will return to you per day.

[lyric folio]

Hey, my understanding is pretty basic so don't shoot me if I'm wrong, just trying to help. There is a problem with simplifying it down this much though. But let's roll with it. When someone buys the liquidity you provided, the pool ends up with 0 ILV and 2 ETH (again very simplified, pool not adjusting prices), then when they provide liquidity (7 ILV and 1 ETH), the pool has 7 ILV and 3 ETH. And you both own 1 SLP. So you both own 50% of the pool so get 50% of the pool rewards. If you cashed out you'd get 3 ILV and 1.5 Eth cos of divergence loss (aka impermence loss)

[brisk surge]

now you just have to take into account gas prices and then the coumpounding affect on your rewards and find the amount of time where its more beneficial for you you to withdraw your rewards than leave them there

[shrewd river]

Basically only makes sense to me at current gas prices when I have about 20 ILV in rewards to claim and gas is around 60

[brisk surge]

20 ILV???? im pretty sure the compounding affect would make it worth it to withdraw far sooner than that

[primal zodiac]

Yeah that doesn't sound right. Im staking 4 ilv + equal eth in SLP, and claiming every 2 weeks or so was optimal

[lunar marlin]

If I choose to stake in a different pool, will it ask me to first pay a claiming gas fee from the pool im current staking or not?

[lean crown]

what does “source” mean in the vesting page? I see under “source” there’s deposit and yield 😐

[shrewd river]

I’m paying about $250 in gas to pull rewards so I like to wait till 20ILV but that’s just me

[brisk surge]

hmmm I mean you do whatever you feel comfortable doing

[primal zodiac]

I mean it depends how quickly your investment generates 20 ILV. But you have to take into account the APY you earn on rewards once claimed

[vital kayak]

Can I get a shake with that stake? 💗🙌🏻🤑🔮🍀

[iron glen]

Yes by delaying your claim you’re missing out on extra ILV you could be earning. It’s quite tricky

[vital kayak]

Absolutely! Even Kieran suggested in an interview a month ago to claim every 2-4 weeks

[sinful pond]

gas seems to be trending down today for the first time in weeks. Could be back to normal after people stop making a new profile pic NFT every 2 hours

[primal zodiac]

I think every 2 weeks ish is good if you have at least 1 ILV to claim, just choose a time when gas is low

[vital kayak]

There’s SO MANY NFT drops this week, it’s gas wars. Wait for sunday it’s usually lower

[primal zodiac]

NFT market as a whole is dropping at the moment, and gas is coming down with it

[vital kayak]

I claimed 4 every 2 weeks and the gas was $180 + $139 last Sunday claiming

[vital kayak]

ETH and everything

[lunar marlin]

If I choose to stake in a different pool, will it ask me to first pay a claiming gas fee from the pool im currently staking or not?

[vital kayak]

Always

[lunar marlin]

Are you sure? I will not be claiming anything, just staking in a different pool

[vital kayak]

I mean, you’ll have to claim your rewards but there is a fee that goes with that because it’s crypto

[vital kayak]

From my experience yes but I only have one ILV in basic pool so I could be wrong I really focus on SLP

[lunar marlin]

ok but when you did this process of first staking in the other pool, it asked you to claim anything or you just paid the staking fee?

[brisk surge]

are you taking your stake out and putting it somewhere else ?

[lunar marlin]

no, just putting it in for the first time in the pool

[brisk surge]

if you staking for the first time in a pool what rewards would you have to claim?

[lunar marlin]

none, but im already staked in one pool

[brisk surge]

well as long as your not doing anything to that pool you shouldnt have to do anything with the rewards in it

[wheat grotto]

Can anyone explain or are there any sources I can read? I’ve just staked my investment but as far as claiming goes and why you should claim every 2 to 4 weeks I’m unsure of

[cunning perch]

you can find helpful stuff in pinned messages in #🥩〕staking

[wheat grotto]

I’ll have a browse thank you

[brisk surge]

it just depends on how much you have staked and how large your reward pool is over a certain period of time, you have to pay gas fees every time you claim your rewards so depending on how much you have staked will determine how often you should claim your rewards. if someone has a lot of ILV staked and they are claming 2 ILV every 4 weeks, and gas is only 150 to claim then its worth it for them to claim so they can compound their rewards. But if you have a small pool and are only claiming 200 dollars worth of ILV every 2 or 4 weeks and gas is 150 then its not really worth it.

[wheat grotto]

Thanks for replying, I only have a small pool of 2.5 ILV staked.. so I’m assuming option 2 is best for me I’ll keep and eye on gas fees I can’t see it being cheap enough to claim regularly though lol

[brisk surge]

yeah I am in the same boat as u

[wind walrus]

For small bags it's better to claim every 12 weeks or so. Hopefully the Staking V2 will help.

[lean crown]

what does “source” mean in the vesting page? I see under “source” there’s deposit and yield 😐

[lunar marlin]

are you in core or slp?

[wind walrus]

Just telling you where that reward came from. Your deposit, Rewards from staking and eventually RevDis

[lean crown]

ah okay thx man

[manic cargo]

hello have someone sent ilv from gate.io to metamask? ist taking too long(20 minutes) and im not reciving anything

[olive gust]

if I stake the ILV pool at 100% but now it is at 74.09%, how is my rewards computed? is it still based on 100% or it changes as the current APY changes?

[cyan rampart]

APY is dynamic, so you're not "locked in" at 100%. Right now, you're getting 74.09 (or whatever the current APY is).

[olive gust]

ok thanksa!

[willow vapor]

I tried using the Excel to plot using 1 ILV, got confused with it, still doing some reading.

[wheat grotto]

I’ll go with that, and be patient as a few people keep saying on here lol thanks

[wheat grotto]

I’m in core my friend, how come?

[wind walrus]

Yep, I know it's tough when you see 300-500 USD in rewards and you want the extra APY from compounding but also look at the cost to claim that 300. I'm doing a hybrid claim which means I'm claiming more often while APY is higher and will claim less as it drops. Hope it pays off

[wheat grotto]

I’m still learning a lot I’m glad you’ve mentioned claiming often because I would of just let it stew until the release of the game lol

[wind walrus]

That would not be horrible as it would keep your total out of pocket expense low but you lose a little bit of opportunity gain in the form of ILV and RevDis.

[wheat grotto]

So when you’re claiming are you claiming as ILV or SILV

[wind walrus]

Yep, your choice. ILV will get restaked and locked for 12 months at 2x weight and will be eligible for RevDis. Claim silv and it's put in your wallet right away and able to be spent or traded

[wheat grotto]

There’s a YouTuber that’s bringing out a staking podcast for illuvium I honestly can’t wait for it I can’t get my head around whether to claim the ILV or SILV lol surely it would make sense if you’re playing the game to claim SILV which allows you to progress through the pay to earn side of the game quicker?

Like you just said ILV claimed every 12 weeks is not released for 52 weeks will automatically be staked after that period? Or will I have to make the decision to pull it or restake

[cyan rampart]

There's a strong argument for sILV once there's things to spend sILV on. For the time being, ILV is a good choice, because it can be staked and compound.

NFA of course.

[wheat grotto]

Is the ILV claimed added on top of the of the original investment during the 52 week period or at the end?

[cyan rampart]

Your rewards are treated as a 12 month stake in the Core Pool. AFAIK they will remain staked there until you choose to withdraw them and will continue generating rewards until you withdraw them.

[wind walrus]

When you claim you will choose at that moment. If you choose ILV it is automatically staked and locked 12 months in ILV core

[wind walrus]

Each claim will have an independent lock schedule from the time you claimed. Once claimed in ILV the new stake start compounding

[wheat grotto]

Rightttt I get it now, so much easier when it’s dumbed down lol it’s overwhelming for someone new to this.. luckily this community is patient and really helpful with all the questions I’ve asked. Thanks both @cyan rampart 👌🏼

[cyan rampart]

That's what we're here for - I think @wind walrus carried most of the weight here though haha

[wind walrus]

Teamwork, JD will be helping others in no time

[meager quartz]

Hi, can someone please tell me where I can see the total ILV rewards per day for the all stakers?

[cyan rampart]

I don't think this exists in an "easy" capacity. You could work it out, but it's complicated.

The easiest way that would be really close would be to check the "Total Distributed" at a given time one day, and then check again 24h later and see the difference in "Total Distributed".

[wheat grotto]

The way my obsession with this game is taking over I’ll be educating in no time 😂😂😂

[brisk surge]

literally though, ive learned more about this game in the past week than I learned about anything in school in the past 15 years

[wheat grotto]

It’s mad how much you can learn when you’re actually interested isn’t it haha it’s a brilliant feeling

[brisk surge]

indeed and it helps that everyone is actually helpful

[misty prairie]

Has anyone come up with a good way to calculate the returns from staking SLP at >500% APY for 12 months when the rewards from that stake are compounded into a 76% APY pool for another 12 months? I haven’t figured out a way to get this math down

[cyan rampart]

I think it's impossible, because the total investment in each pool is a variable you cannot control or model accurately.

If you had fixed APY and total investment in each pool, it's relatively easy to math out. You know your claim frequency, so you calculate rewards generated up to your first claim, then start the amount of ILV claimed generating rewards in the Core Pool.

At the next claim, you're restaking ALL rewards again into the Core Pool, and so on.

[vast jewel]

Does revdis work for SLP stakes?

[meager quartz]

my payout is falling and I want to keep an eye on it. Does the amount of ILV distirbuted stay the same each day until it is exhausted? i.e. is the only variable what % of the pool I own? Looking at ETH/ILV. I think the % share for the ETH/ILV pair used to be 80% and is 78.4% now...

[wind walrus]

There is a spreadsheet pinned in this channel from Cooper and Dejari that might help

[brisk surge]

you get rev dis on all ILV stakes you have, I would assume that includes the half ILV you have for SLP but not posotive anyone have a definite answer?

[cyan rampart]

The total ILV distributed each day (or each block, even, it doesn't matter the timeframe) decreases by 3% every 2 weeks.

[meager quartz]

must do, its just 50% ILV

[cyan rampart]

So the variables that affect the amount of ILV you get are: 3% less TOTAL every 2 weeks, and how much of the pool you own (which depends on how much total investment is IN that pool).

[meager quartz]

Thank you, that is the bit I was missing. I should have known that. Oops

[cyan rampart]

Yes.

[meager quartz]

Is the game progressing well? I have been a bit out of the loop

When is public beta?

[cyan rampart]

Trailer got delayed by about 7 weeks a while ago (you can check #📣〕announcements ), but it will include more content. The release date also got bumped back to Q1. Nothing new on beta in a while!

[misty prairie]

That spreadsheet is complicated

[open steeple]

anyone from the team can confirm this please?

[wind walrus]

That is correct. You recieve RevDis on all staked ILV.

[rotund sundial]

If 100% revdis be distributed back to ILV stakers, how can Illuvium team get money to keep operating ?

[brisk surge]

The team raised something like 45mil usd and still have a lot of that left for operating costs/development

[rotund sundial]

This should be a short term plan. As a player, I really appreciate for their kinds. But in long term, I think this is kind of risk. They should have some revenue to keep the operating smoothly.

[brisk surge]

what happens when this runs out?

[brisk surge]

It likely is a short term plan, I’m unaware of a plan past this but I’m sure that’s my fault rather than the teams, I’ll do some research.

[brisk surge]

I fell like I have seen people talking about this maybe @manic spindle could help us out?

[manic spindle]

Roughly 1.85m tokens sit in the treasury

Treasury gets RevDis and fills the DAO bags

🙂

[misty prairie]

When I claim my SLP rewards the rewards are locked for another 12 months, but are any new rewards I claim locked for a new term of 12 months or do they join my previously claimed rewards for the remainder of their lock time?

[cunning perch]

whatever rewards you claim gets a different one-year lock up. So claiming regularly makes sense as they compound and later get unlocked one after another.

[brisk surge]

ahh yes okay thanks for the clarification

[misty prairie]

That's what I was thinking

[cunning perch]

Then you were thinking correct 🙂

[brisk surge]

Does it cost transaction fees to stake it in the first pool?

[cunning perch]

Whatever transaction you do (as it is done on a smart contract) requires gas. so staking/unstaking/swapping/claiming/transfering all need gas

[wind walrus]

Even just thinking about doing a transaction cost gas 🤓

[tender lynx]

whenever yall claim the rewards, does it make you confirm in metamask twice?

[cunning perch]

Only if you claim SLP rewards. claiming ILV pool is just a one-time claim (2 gas)

[tender lynx]

any reason why whenever I try to claim rewards, the transaction gets dropped?

[wind walrus]

What do you mean "Dropped"? Do you have enough ETH, are you lowering the gwei or fee?

[hot lynx]

Ok quick one .. any information on V2 staking 👀

[cyan rampart]

Aaron has been mysteriously quiet since his last post, which usually means he's hard at work 😄

[hot lynx]

It would be interesting to know what the concepts are for V2

[cunning perch]

You know that you’re killing it with V2, right? 😆 jk, good to see the community thirst for more info which means the knowledge is increasing which means a stronger community in the end

[worn seal]

@cyan rampart - I am just wondering if non-stakers could be diluted as their positions make up a smaller portion of the supply upon each distribution, & if stakers dumping their profits from rewards could create selling pressure with a greater effect on governance token hodlers who arent receiving these benefits. Thx

[brisk surge]

The total supply will not increase from revdis so there won’t be any dilution. The ILV for revdis are purchased from the market.

[cyan rampart]

Their tokens make up the same percentage of the total supply, and the token is worth more. They don't increase their bag, but they don't get diluted.

Stakers are free to do whatever they wish with their tokens, as are non-stakers. There are obviously benefits to staking, but downsides as well, including not being able to capitalize on price action, in the case of locked stakes.

[worn seal]

Sweet. Thx v much for that info. This protocol is unmatched.

[still kindle]

Totally agree ZS, the tokenomics of ILV are the very best I have ever seen

[cyan rampart]

https://tenor.com/view/the-best-of-the-best-the-great-canadian-baking-show-gcbs-top-of-the-top-the-best-gif-21183343

[hot lynx]

With patience comes the desire for a date or a structure 🤣 V2 🚀

[still kindle]

We dont have full revdis distribution plans yet for the IZ land sale, but if you start with a figure like EmberSwords 200m USD sale, and if IZ got something equivalent - imagine the price impact with so many of us fully staked - ie the liquid market is small

[cunning perch]

Before IZ, land sale will massively burn sILV if we take the people spending ETH (which generates RevDis) out of equation.

[still kindle]

Thats a great point Arash, all these effects are cumulatively very positive

[lean crown]

what happens when I claim my rewards from the core pool and what happens if I don’t?

[cunning perch]

if you don't, it'll sit there idle and does nothing. If you do, and claim in ILV, it'll compound with a weight of 2X and stay locked for a year. if you claim sILV, it'll go to your wallet and you can use it in-game

[lean crown]

ah I see, so the best is to wait until gas is justifiable and claim instead of just letting it sit there

[cunning perch]

yes. If gas justifies it, claiming is in your best interest

[lean crown]

thx man

[still kindle]

On gas, I know its weird to say but its not been too bad today.... and lets hope we can get back to "the good old days" over the weekend Ill bet there is stacks of claims just waiting on gas to be at sensible levels

[lunar marlin]

Lets say GWEI is at 80, to stack in SLP pool I'll pay around 40$ to swap + 40$ to add liquidity + 40$ to claim pending rewards + 40$ to finally stake in SLP pool, total = 200$?

[rotund sundial]

Sorry, quite new to crypto. I don't understand how can those treasury help Illuvium get money. I know the definition of DAO but still not understand. Can you explain it more detail ? Thank you very much.

[cyan rampart]

!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.

[rotund sundial]

I also knew what is revdis. But I don't understand if all the 100% revdis distributed to ILV stakers, how can Illuvium get revenue ?

[cyan rampart]

The founders sold some ILV tokens early on (seed/pre-seed) to investors for capital. Most of the team has at least some of their compensation in ILV tokens.

So basically, Illuvium (the company) doesn't get revenue, but they still profit off the success of the game, and are paid with the funds raised early on.

[rotund sundial]

Hmm.. that's sound reasonable. But still wondering about the 1.85m token in the treasury that Stormi said above.

[manic spindle]

This is twofold:

1. As Blickter mentioned, some team members (mostly the admins, but not exclusively) got a large amount of tokens in advance. 1.5M for the team in total. So obviously those people get profits via token price increase and RevDis.

2. Then we have the DAO in general, meaning the Core Contributors who aren't paid in ILV and anything else the DAO needs money for. This is funded for one via the $45m from the initial token sale and on top of that (although the $45m already are enough for 2-3+ years of development) the treasury, which belongs to the DAO, holds 1.85m ILV tokens roughly. These are eligable for RevDis as well, so as soon as revenue comes in, the funds for the DAO increase too 🙂

[rotund sundial]

I can understand 1 but 2 is too much for my small brain LOL I'll try to understand it someway. Thank you for your supported.

also thank you @cyan rampart

[cyan rampart]

Stormi's answer is better, but you're welcome 😄

The treasury is a very important part of the equation.

[willow vapor]

Do we have a youtube video or blog doing a step by step of this staking calculator for newbs like me? Would really appreciate it. thanks.

[elder dawn]

Its my weekend project. Working on it 🙂. I did post an in depth walk through in my blog - click on my info for the link

[willow vapor]

You can go ahead and tap the stake button on staking.illuvium, it will trigger your metamask extension, there you can change the gas limits.

[wheat grotto]

Ahh I’ll take a look next time thank you my friend 🙏🏼

[willow vapor]

Perfect! I think I already saw few of your vids, great content btw. Just a minor suggestion if possible, also add a sample computation using a 1 ILV for the most comprehensible example. Works for new comers like me. just for consideration. more power man, stay safe!

[elder dawn]

will do - folks staking small amounts is one of the biggest groups I want to inform. especially right now with gas fees what they are, I want to make sure people have a realist expectation on staking ILV

[willow vapor]

Thanks man! Found out just now that you can cancel the pending transaction by making a new transaction, send to self, using the same Nonce value! Learning new things everyday.

While staking, I accidentally put 07 gwei on metamask instead of 70 few hours ago, was stucked sinced then lol. It's fine now, empty transaction for $25 gas fee.

[hazy crescent]

You think it becomes interesting to stack the ILV from how many dollars

[weary lance]

Hey moderators, I want to pitch something related to staking and NFT. Who should I reach to?

[cunning perch]

You can always ask your questions in a proper channel (related to your questions ) and mods will try to answer you

[cunning perch]

Anything that justifies paying gas is a good amount (relative to your buying power)

[hazy crescent]

ok thanks i will think about it

[weary lance]

probably in game ideas. I will check them.

[surreal ledge]

I'm curious to hear some peoples opinions on ILV/ETH pool vs. ILV pool. I want to get some ILV in the upcoming days and I'm trying to decide how to split my investment

[cunning perch]

If you can take the risk of IL and accept the fact that you have to pay 2 gas for SLP rewards, then SLP is your choice. If you want lower risk, then the single asset pool is. It's totally your decision as you know yourself better and know what you can/can’t handle and all depends on what your future plans are.

[surreal ledge]

I'm a little new to the whole scene, I have $3k to play with so im trying to decide if I want to do something like 2k into SLP and 1k into single. I plan to half my rewards between staking further and sILV for the game. I'm just wondering if that strategy makes sense, or suggestions for alternative splits

[cunning perch]

Well as I told you, you know what's best for you as you decide what you wanna do. It would make sense to go for SLP IF you can afford to pay the 2 gas for claiming the rewards. If you can and accept IL, then SLP is always a good idea. If not, well....you know what to do 🙂

[warped anvil]

This is definitely just my opinion and I think @cunning perch laid it out perfectly, but if the ILV token can hold it's value or increase in value over the next year, then I think the ILV rewards will more than make up for what you might experience in Impermanent Loss. That's why I went with staking SLP and paying those higher gas costs up front. For me, it has a lot to do with my belief in the ILV token and what I think it could be worth in the future.

[surreal ledge]

Thank you very much guys

[warped anvil]

You're welcome. I sort of thought of it this way; Once I claim 2 $ILV worth or rewards, it's essentially like staking $1000 worth of ILV anyway (depending on the market value of ILV at the time)

[surreal ledge]

Yeah thats kind of what Im thinking now

[warped anvil]

I staked less than you will be and I'm earning at a rate of about 1 ILV every 13 days. Not too shabby.

[fiery spire]

Any news regarding the staking v2 proposal?

[cunning perch]

Nope. Still being worked on and Mods and council await the updated proposal. I believe the governance these days is taking so much time and distraction, which is why it got delayed a bit. A wild guess though. Could be wrong

[surreal ledge]

@warped anvil How are you making 1 ILV every 13 days?? is that because you got in early and have a higher amount now??

I'm confused

If you could do a simple breakdown id greatly appreciate it

[warped anvil]

No. I only staked my SLP last week. I'm not sure I'm the person for a breakdown, but the rate of return is at 550%. The rewards come quickly at that rate. It won't be that high forever, but they sure are nice right now

that's with locking it for 1 year which increases the weight to 2

[wind walrus]

I'm making 1 ILV every 3 days. I just starting investing 3 weeks ago

[cunning perch]

Nice amount 👍

[surreal ledge]

😳😳😳😳

[warped anvil]

right?

[wind walrus]

Thanks, wish I had triple the money to invest

[surreal ledge]

I cant wait to get in, and yeah I wish I had a lot more than 3k lol

[wind walrus]

With the price pull back you are very lucky to buy in at this price

[cunning perch]

Well, 1 ILV every 3 days is pretty cool in itself. It'll be worth way more later. And the Rev you get for every single one of them will make it worth your while

[surreal ledge]

Wow it's pretty amazing tbh

[wind walrus]

I started with 3400

[warped anvil]

Yeah! Rewards like this for a super awesome and well thought out project with excellent tokenomics. It's an awesome situation

[cunning perch]

The more rewards you get, the lower your avg will be. The rev you get later, if you stake it, you'll get even lower avg. So....one day it'll be like you bought your ILV at $200 and not 450. That's why the sooner you join the more rewards you'll get. You're gonna have to decide when is the right time

[surreal ledge]

I appreciate all the insight and opinions, I have a good idea of how I want to invest now!

[willow vapor]

woah. how many ILV initially invested?

[brisk surge]

thats insane

[mystic thorn]

That’s wicked

[wind walrus]

I started with $3400. I bought 4 ILV and matching ETH to stake in the SLP pool. After a week I saw how much I was making per day and invested another 5k

[mystic thorn]

If you invest a lot you sure do get a lot of money back

[brisk surge]

is that locked?

[mystic thorn]

Yes it would be

[wind walrus]

Yep, 52 weeks

[brisk surge]

damn

[mystic thorn]

Ya locking for 52 weeks is nice should always do that

[fresh basalt]

Are the financials of the DAO public available to the public? I am interested in looking at the numbers (i.e.) how much have been spent since launch etc... I just want to run some numbers and do basic valuation etc.

[ruby wing]

Not sure, I would also be interested in disclosing some basic numbers 🙂

[pure eagle]

Hey guys after months of research I finally staked....I got one question what is 1 SLP? I thought it was 1ILV+1the same value in ETH. But that was not it

[elder dawn]

An SLP is just a representative token. They exist for every liquidity pair and are all over the place in their basis. For ILV/ETH it's around $2500 per SLP today

[pure eagle]

So on what basis are my rewards calculated? On the amount of ILVs are in my SLPs?

[elder dawn]

Your rewards are based on the whole amount. Today, it's around 0.082 ILV per SLP per day.

[brisk surge]

Have someone calculated at what Investment the SLP pool is more profitable than the normal ILV staking Pool?

[elder dawn]

Depends on your predicted ILV future price and what gas you pay to stake.

[pure eagle]

Just to clarify if my SLP are worth 10k the APY bases the rewards upon those 10k?

@elder dawn thanks for the help 👍

[elder dawn]

Yes, the apy is based on your $10k total slp price.

[pure eagle]

That is awesome, but has me totally bamboozled about what an SLP is and how to calculate my rewards. You have been great and I really appreciate it

[wind walrus]

SLP is a Sushi Liquidity Pool token that is a token issued buy Sushi when you Pair two tokens together. You do that via Sushi. Once you convert you ILV and ETH into SLP you then stake in the illuvium website

[swift spindle]

Can I accept the first transaction when claiming rewards and reject the second one and it'll reject the process or once I accept the first claim and I bound to accept the second one because it'll take the money for the first regardless?

Curious to see how much the second part of the transaction is compared to the first

[wind walrus]

For claiming SLP?

[swift spindle]

Yessir

edit: Sorry for the vagueness lol

[wind walrus]

The first is for ILV the second is for SLP. Is this your first claim?

[swift spindle]

It is my second claim since I've staked, I claimed ILV rewards last week as one transaction since I had no ILV staked. Now I have some in both pools and am curious how much it would be all together to claim

[ember basalt]

depends on gas fees but most probably around 100$ up

[wind walrus]

With current gas prices i would say 130-150

[swift spindle]

So $60 for the first transaction and then another 70-90 for the SLP claim with current gas prices as low as they are?

[ember basalt]

I had $170 total when the gas was around 90 gwei

[wind walrus]

Probably, normally the price MM quotes is higher than you will actually pay.

[swift spindle]

Yeah, I've experienced that a few times. Thank you both for the help!

Still planning to wait several weeks to claim as I only have around $200 in rewards again right now.. With the prices dropping I'm considering putting another couple thousand into the pools

[final steppe]

@random crater Answering your staking question from the #💬〕general channel here 🙂 Each time you claim your rewards (if claimed as ILV), that batch of rewards will be locked and vested in the ILV core pool (earning that APY) for 12 months starting the day you claim them.

[wind walrus]

Also the tokens you claim will have 2x weight in the pool

[random crater]

Cool thank you kindly

2x weight meaning equivalent to 52 week fixed interest?

[final steppe]

Correct!
Flexible staking with no lockup period would be a token weight of 1.
1 year lockup gives you the token weight of 2.

[wind walrus]

Token weight of 2x means when RevDis pays out it doubles your rewards.

[wind walrus]

Correct me if I'm wrong but the interest is not fixed when you claim. The claim just goes into the standard ILV Core pool at 2x weight locked for 52 weeks and the APY is still variable.

[lilac coyote]

also means the revdis is diluted more since most people are 2x

[final steppe]

That's correct! Your balance in the pool will earn rewards at whatever the current APY is at the time, not the APY when you first locked in 🙂

[wind walrus]

Ok, I asked because you said "Correct" to his statement. Don't want people confused

[wind walrus]

True.

[final steppe]

Ah @random crater, my apologies. I missed the "fixed" part of your question there. Long day... still, no excuse but I should have caught that.

The APY is NOT fixed for any of the pools. Your balance in the pool will earn rewards at whatever the current APY is at the time, not the APY when you first locked in

[final steppe]

Appreciate the call out, Faulty. I should have caught that.

[pure eagle]

Again can someone explain to me how the price of an SLP I calculated

[wind walrus]

No worries, team effort

[pure eagle]

I Know is at like $2500 but how do you get there

[wind walrus]

That I'm not sure of. I just know it's 50-50 mix.

[gleaming brook]

I have the same question too on how is the price of SLP calculated

[wind walrus]

Found this on the web. Not sure if it helps. What is SLP in SUSHI?
When the liquidity add is done, you receive Sushi Liquidity Provider (SLP) tokens in return. These represent your share in the liquidity pool, and your earned fees that are received upon withdrawal of the liquidity.

[pure eagle]

Thanks for the message, I do understand this and I understand the LP concept what I don't get is how they price each SLP token, what is the math behind it... SLP=(ILV×Y)+(ETH/2₩)^3???? 👈 is a crazy example BTW

[wind walrus]

Lol, only thing I care about is how much ILV I make from SLP

[pure eagle]

Yeah....that is great, but you should understand the root of things (I though I did) but once I staked I got this weird amount of SLP once I staked them the value was correct, but then it led me to question the sense behind it. I usually don't invest in things I don't understand.

[elder dawn]

I'm in a bunch of SLP (on polygon to avoid eth gas). Some SLP are priced at like $40, I have a couple over $1mm per SLP. there's no rationale that I've figured out. That actual price per unit seems completely irrelevant.

Percent of pool and fees is what matters

[pure eagle]

But it cannot be irrelevant, that is computer generated and for that to happen someone has to put an algorithm that makes some mathematical sense

[ripe steppe]

Im the opposite (maybe not a good thing though) but i usually invest in things that sound like a good idea, but i dont understand them, then once I’m invested I have a very good reason to understand them (easier to get things when u have skin in the game) (for me anyways lol not financial advice 100% im just a degenerate)

[ripe steppe]

There probably is a correlation between total amount of SLP to the total ILV/ETH, Just that the correlation is arbitrary and without significance

[elder dawn]

Agreed. Total speculation is it's based on the initial pooling size, and it's just being consistent from there to maintain percent of pool

[pure eagle]

Well we will agree to disagree on this one....blindly putting money without understanding the core behind it is not in my DNA

[ripe steppe]

Thats probably a good thing lol

[pure eagle]

Most definitely I assumed something like that but what is it???

[gleaming brook]

I agree with you on this. I feel the need to understand it although I am already staked…

[ripe steppe]

I would also enjoy an explanation if someone had one to offer, but as it is kinda just trusting that theres some logic/algorithm behind it and that its all cool (done my research otherwise on a lot of the staking dynamics, im not an idiot, just this particular tidbit i know it not and have yet to see someone answer this in the discord). (Maybe run the numbers and figure it out🤷‍♀️, maybe someones got a youtube on generally how Liquidity Pool token values are determined/correlated) if u do find out share it

[pure eagle]

😆 😆 👍 well we need some heavy guns on this...maybe @rose swift or @median canyon could help us on this.

[ripe steppe]

@exotic igloo more likely to know this particular thing

[pure eagle]

Sounds like a plan, I will really dig into it. Love the rewards BTW don't want to be a party 💩 but I help out a lot in the #796506693973311549 discord and I could not give an honest answer when asked about it

[ripe steppe]

Asking question does not poop the party, its the best thing to do, you’re trying to educate both yourself and others. Keep fighting the good fight bro. salute

[pure eagle]

https://tenor.com/view/dwight-schrute-the-office-salute-yes-sir-gif-13625282

[mystic thorn]

https://tenor.com/view/bad-teeth-hi-hello-wave-gif-14630063

[rare flume]

Hey guys, how work staking in SUSHI LP? what significate APY?

[mystic thorn]

Apy is ANNUAL PERCENT per year because how much % of what you put in you will get back out

[ripe steppe]

APY also decreases over time (3% decrease every 2 weeks) (also the more people that stake the lower the APY goes as the yield is being distributed amongst more people)

[rare flume]

But is so locked?

[elder dawn]

APY gives you a snapshot of what you can expect to earn today. It is not locked.

[rare flume]

Example: i'll put 0.1 eth swap ilv, and i'll put in sushi lp saying 540% per year

But decrease for time?

[brisk surge]

you have to have the same amount of ILV and eth to stake sushi

[rare flume]

Sushi APY is today 542%

[elder dawn]

I'd recommend reading some things in my blog publish0x.com/ilvfi. It's too complicated to get all of it in this chat. Check out some background and then we can help answer questions. Apy is a bit deceiving of a term

[unborn dome]

When you stake a token the amount of apy it tells you you will receive for the term isn’t fixed?

[elder dawn]

Yes, today you can expect to earn ILV equal to (540% x your investment) divided by (the ILV token price x 365). That's what's APY means.

[rare flume]

So Confused, i'll study a little bit

[elder dawn]

That's where APY is deceptive here. It varies with number of people staking and for the SLP with ETH and ILV price. I just wrote an article on this a few days ago

[mystic thorn]

The best way to figure things out is to study it yourself I would say so you can find exactly what you are looking for

[unborn dome]

Can you link the article ?

[elder dawn]

https://www.publish0x.com/ilvfi/apy-is-dumb-what-really-matters-in-staking-with-illuvium-xrnxpmz

[median canyon]

Is the question “why is the spot price of sushi lp tokens so different between different lp pools?

Or is it a question of something specific to the slp in the ILV pool?

[exotic igloo]

Sorry what

[elder dawn]

The question was why is the SLP priced exactly to ~$2500? What is the significance of the exact price?

[ripe steppe]

What @elder dawn just said

[elder dawn]

For example, I have a bunch of SLPs with dollar values all over the place, from $40 to $1mm. They were discussing how SLP price is initially set

[exotic igloo]

I see

It was originally set with the first liquidity provided by the treasury in ETH and ILV to set it around 75$ per ILV token at 50 : 50 (the closing price of the balancer pool)

[elder dawn]

Sweet! I got it right! Initial staking sets it. And then it just has to move from there to keep pricing true. It's about that initial forming/pooling price

[pure eagle]

Ok great heavyweights here now

[exotic igloo]

Yep

[pure eagle]

Ohhh okay that makes a bit more sense. And how does it keep the pricing true what makes it at $2500 ish today?

What is the criteria behind the adjust

[elder dawn]

Now you get into the price of the two tokens and the ratio of the prices for impermanent loss. ILV is up like 17x since the pool formed, and eth is probably double.

[exotic igloo]

Yes it then track both price increase and decrease from the initial liquidity

And also add to it the trading fees

So even if both currency wouldnt move amd trading was happening, the price would rise slowly

Remember the pool will always try to keep the liquidity at 50 : 50

So if ILV is bought (removed from liquidity) and eth is added the price of ILV will rise to compensate

[median canyon]

The exact mechanism, if I remember correctly is that the number of LP tokens minted initially is equal to the geometric mean of the pair. I think it used to be just equal to the qty of ETH deposited, but that is obviously not a good method.

As for the value rising all the time, I believe they also burn a tiny quantity of the initial tokens instead of giving them to the pool creator (the Dao).

Because obviously tokens don’t have infinite precision and you don’t want to have the smallest qty be worth more than what shrimps can afford.

When new deposits go into the LP pool that’s straightforward.

That formula can be used for initial, because you would have a divide by zero error.

[exotic igloo]

Thanks!

[median canyon]

Someone should be able to find the white paper.

[exotic igloo]

Yea the only missing link in my head was the minting and burning of the SLP

[median canyon]

I could be wrong. But geometric mean makes the most sense to me.

If that isn’t used, it should be.

[exotic igloo]

That explains it

[elder dawn]

Makes sense

[pure eagle]

Ok now this I get.....That is exactly the answer I was looking for, I'm gonna print screen and analyze it when I wake up tomorrow....thanks a lot man I remember you trying to explain IL a bit back that's why I tried to summon you.

[median canyon]

I don’t remember the exact initial supply I used for the LP pool. But you can work it out super easy.

[prisma temple]

I know there is a bunch of calculators floating around here. Is there one that can tell me the difference between ILV staked for a year flexible vs locked? I am lazy tonight

[mystic thorn]

i would suggest never going flexible for it doesnt give you the extra weight the locked does

[median canyon]

Your token weight will be 2.0 vs 1.0

[mystic thorn]

precisely

[median canyon]

Locking also locks it. What if he wants to buy a lambo next week and all his liquidity is locked.

[mystic thorn]

ahh well if he is buying a lamboo then mb Spork 👍

[prisma temple]

precisely my situation thanks. My 9 whole ILV might be worth a lot next week lol

[mystic thorn]

maybe @median canyon can pull a few strings 😉

[prisma temple]

Honestly though I understand that. I am a college student and I was gonna stake these suckers locked but it is my 'savings' technically so I might need it for books etc next year. Just wanted to see what I would be missing out on staying flexible

[elder dawn]

The easy answer is "half the reward ilv." Up to you what you think ilv will be worth and if locking for a year is worth doubling it.

[mystic thorn]

just on 2x weight

[prisma temple]

Thats a good way to think about it I guess, thanks guys

[mystic thorn]

np my guy good luck

[prisma temple]

Thanks, just made it official. Part of the stake gang now🥩

[brisk surge]

lets goooo baby

[elder dawn]

Welcome to the party!

[mystic thorn]

Let’s go nice feels good

[tawdry hornet]

Hi quite lost today. When I try to connect to the wallet, it doesnt show the metamask wallet

WalletConnect shows with option of Gnosis and Encrypted Ink

[brisk surge]

did you download the chrome extension for metamask?

[tawdry hornet]

yes I did

[brisk surge]

what are you connecting to it from, the illuvium site?

[tawdry hornet]

yes, btw, figured it out now. initially metamask was uninstalled.
upon installation and refreshing the page, still does not show up. So what I did is to close the window and reopen Illuvium and now metamask is shown in the option.
Thanks!

[brisk surge]

dont know if I helped at all lol but glad you got it working goodluck

[viscid glade]

hi if i stake into the slp pool again if I already have some, it totals on top if it right?

[brisk surge]

yes

[elder dawn]

For claiming purposes yes. For lock up period, it will be it's own stake and lock period.

[viscid glade]

oh ok cool, thanks. & I read ur articles Deraji thanks for providing the info for us noobs

[neon isle]

So i accidentally locked my slp stake for only 7 days. When it unlocks i have to withdraw it first to stake it for a longer period right? And say if i decide to stake more by that time the withdrawn amount would be added to my new slp tokens right? and then i'll just stake them again in 1 transaction. Is that right @elder dawn

[elder dawn]

You're correct. You'll need to withdraw your initial stake and then can start a new one with a new lock up period. Absolutely you can add (or withhold) at that point.

[exotic igloo]

55 000 ILV if I remember correctly

[wintry hill]

Hey guys. I have my ETH on my Ledger device which I connected to Metamask. I plan to buy ILV and then stake for a locked period. My question is, should I transfer the ETH to another MM address first (not connected to Ledger) or can I transact using the Ledger connected address? I'm thinking about possible issues.

[median canyon]

Seems about right.

[clear cape]

Aaron did you do 4 unit maths in high school out of curiosity LOL?

[exotic igloo]

You can use the ledger

[wide eagle]

has anyone tried buying sILV with USDC/USDT on Dextools? Just wondering if they charge you the same gas fees for the transaction as you would using ETH directly from my meta mask?

[median canyon]

Yeah. I'm kind of ok at tests, especially STEM subjects. I think I lost some points in English because the first line of my first essay was that the person grading was going to use a bunch of keywords to grade, and they would be wrong.

I don't say I'm good at math though, because I am not even the best in my immediate family.

But you don't need to be smart to understand the math of crypto. It's pretty basic. I suggest anyone who wants to get good at that stuff get Brilliant.org or something like that and learn. Turns out the way things like that teach is a million times better than the way teachers teach.

(But this might just be my way of coping with the fact that my kids are smarter than me)

[wintry hill]

Thanks man. I can also stake another set of ETH using a different MM address right? Or should I stick to just 1 address?

[brisk surge]

after my 12 months is up for staking and i wish to restake for a further 12 months.....will i need to unstake and repeat the process or will the staking just roll over to the following year and then be locked in for a further 12months?

[gleaming brook]

You can add your Ledger as an account in MM. Then you can transact from MM with approval from Ledger as needed

[wintry hill]

Thanks man

[cunning perch]

U don't need to re-stake. Just don't withdraw and your token will be unlocked and yet receive Revenue and YF rewards (the latter while it's active)

[still kindle]

Gas is in the 50s at the moment... lets hope it stays lower or goes even lower this weekend

[plain marsh]

I've just read most, if not all of the doc, and watched quite a few YT videos talking about staking and the tokenomics of Illuvium ... and I've got some questions:

Assuming the vast majority of ILV is Locked (1 to 3 years), or Staked, or Locked Rewards, or not issued because sILV was taken instead, and the Vault is needing to purchase ILV - where is the Liquidity going to come from?

The ILV/ETH LP is only so deep... and if the constant Vault purchasing pressure increases the prices as could be assumed, that would seem to exacerbate the impermanent loss risk, thus reducing participation in the liquidity pool, - And beyond 3 years there will not be the 80%/20% Yield Farming incentives to stake in the pool since Vault Distributions are split evenly between the stake pools.

Could the intended scarcity not also become a detriment to continued growth?
And how would a very limited availability of ILV affect future projects/games?

[vital kayak]

“…Thus reducing participation in the Liquidity pool….”
GOD I HOPE SO! You hold your stake and get to share in all revenue distribution from all games on Illuvium platform. Leave more precious ILV to us!lol sorry I know that didn’t answer, just got home from the hospital and checking chat. But good questions!

[plain marsh]

I hope that 'home from the hospital' means you got home from work... or at least that you are doing well/better!

On the surface - fewer participants in the Staked LP sounds like a good thing right?! - more for the ones who are still there... but the only reason to be in the LP with the higher risk is to take advantage of that 80% share of the Yield Farming ... but beyond the 3 year mark that incentive is completely gone. So at that point, (and possibly earlier due to the Vault return diminishing by 3% every two weeks) - why would anyone still participate in the LP with what could be significant impermanent loss risk due to ILV far outpacing ETH?! (assuming ILV does what everyone hopes, the 0.3% LP return likely won't cut it)

[still kindle]

These are really good points AB, and are subject to so many variables that I think it's hard to say with any certainty what will happen with liquidity. On your point re 3 years on LP I totally agree, I cant see any strong reason to be in that pool after 3 years - or infact perhaps after year 2. My view is that with revdis being available immediately as it doesnt lock on receipt, this will be form a large part of adding to liquidity as people take the revdis and remove that from the ILV system completely

I know of people who have committed heavily to the staked pool but will be seeking personal liquidity from revdis, starting with the land sale

[royal plover]

hello sir I just want to ask a newbie question regarding staking illuvium does it worth the wait? In your own openion. TY.

[deft wadi]

80% yield farming is not the only reason to be in the pool. There's the fee rewards for being in it. With more people pulling out your share will be larger. As the game grows in popularity and also the vault constantly buying ILV means tons of transaction volume thus more fees to be collected. IP loss may or may not be that crazy. ETH will be in 2.0 by then with sharding in effect

[brisk surge]

If you want to stake I would say the sooner the better it is always your decision and the gas is relatively low right now.

[royal plover]

ty.

[brisk surge]

@viral tiger To answer your question previously it's around 7 to 10 weeks from now given the time of the proposal regarding the mini game https://gov.illuvium.io/#/ilvgov.eth/proposal/QmNab3vqQX3q2yTNSo1rwK5PzPgE8QxRnEA13jKz8gWQu9

[hot lynx]

Hi everyone ok quick question .. anyone have any information on #🥩〕staking V2 👀😃

[ember ginkgo]

I think Aaron working hard on it is all we know atm

(working on the proposal)

[umbral egret]

Hey guys , good timing to claim you think ?

It has been the lowest for 2 weeks now , or did i miss a better gas fees period ?

[manic spindle]

It might have been lower at some points but 50 Gwei certainly is on the lower end considering the last 2 weeks or so 🙂

[hot lynx]

Thank you for your reply

[still kindle]

Agreed Stormi Ive not see these levels consistently for a long while. IMO the NFT craze has died down a bit so hopefully we can get back to these levels and much lower

[hot lynx]

V2 #🥩〕staking is important .. I think it should have some different components ...

[lean crown]

just curious how much did everyone stake in the ILV pool 😐

I did 5

[random crater]

Three more questions I've brewed during the day:

1. Is there a minimum fee method to stake for SLP? Currently it's looking like $100usd+
2. If I lock staked SLP, I understand rewards from staking will be locked, but is the initial staked token redeemable after the stake period?

[still kindle]

1 Do you mean gas fee for staking ? The only fees to stake are gas fees, which can often make it not cost effective for smaller staking amounts

2 The initial stake will release after the designated lock period - so if ou choose 4 weeks, it unlocks after 4 weeks, 52 weeks, after a year etc

[random crater]

Great thanks for clarifying. Follow up- if I were to put in 10-30k usd, how much would I be expecting in fees on average over the past fortnight? I know the swap function may have some slippage so I'm curious as to how substantial that may be

And then multiplied by two for fees entering and fees exiting?

[cyan wagon]

need 20-30 gas 😆

[tropic axle]

1.5

[random crater]

Oh cool that's not too bad. What about losses from slippage? I've heard that can be quite substantial like several % of staked amount

[cyan wagon]

sry boirefish, i am just talking to myself hahaha

[cyan wagon]

i cannot answer this...

[little dragon]

Is there a way to check and see the details of how your SLV is staked?

[cunning perch]

There is no staking for sILV. Only ILV

[brisk surge]

Seatin can you PM me please I have some questions about Illuvium and your other projection

[little dragon]

@raven nest sorry I meant ILV. Is there a way to check and see the details of how your ILV is staked?

[hot lynx]

It's a topic that is taboo ... Btw ..👀🤣

[marsh oyster]

hello we need to claim just before staking in core pool ? ILV Pool ?

after sorry

[little dragon]

Is there a way to check and see the details of how your ILV is staked? Locked, unlocked, duration?

[marsh oyster]

locked 52 w

[lean crown]

🐋

[brisk surge]

@dusk kestrel i'm new to cypto can you message me please I have a few questions

[little dragon]

@do there is a slider. I wanted to confirm where it was when I staked.

[umbral kite]

IF i want to join the SLP pool do i need both eth and ilv on my metamask with the same amounts?

[potent flare]

you need to add liquidity on sushiswap with equal amounts of eth+ilv and claim the slp token and stake it

[halcyon oracle]

Hello guys

If I Stake ILV Again, Will it also claim ILV & SLP rewards at the same time that I stake ?

[manic spindle]

!lp Yes, the same USD amounts though 🙂

[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

[halcyon oracle]

@manic spindleCan you help me too please 🥰 ?

[manic spindle]

When you stake a new deposit it will require you to claim your rewards, yes. This is done within the same staking transaction though (not manually via rewards). I'm not 100% sure, if staking more into the ILV core pool also requires you to claim LP pool rewards (if you have any), sorry 🙂

[halcyon oracle]

Thanks, that's what i wanted to know 🙂

Want to profit of the lowest gas fee in the past 2 weeks

[neon isle]

@remote urchin it depends if you wanna do ILV or SLP core pool

[remote urchin]

Can I get fee for both so that I can decide which is best for me?

[neon isle]

at current gwei (48-59 range) which is very rare these days it would cost approx 150-200 usd for SLP. ILV probably 100usd or lower

[remote urchin]

I have 1.6 illuvium..is it worth staking.. considering all the gas fees?!

[halcyon oracle]

i'm gonna cry, It didnt claimed my rewards from my SLP pool and it succesfully stake in ILV pool ....... 😦 Paid 75$ just for staking and it was supposed to stake + Claim at that price

[remote urchin]

Any other charges?!

[neon isle]

do you still have eth?

[remote urchin]

Just .04 eth in my wallet

[neon isle]

here is the breakdown from my slp stake earlier

[remote urchin]

@neon isle okay.. thanks

[neon isle]

unless you can put more eth then you can't do SLP, that eth will probably be enough for ILV pool tho

[remote urchin]

How much eth is needed to do slp for 1.6 illuvium?!

[neon isle]

first you would need an equal amount of eth in terms of usd and more for the gas fees.

at current prices you should have about .222475 eth and thats not counting the gas fees

[remote urchin]

Oh..thank you

[fallen kettle]

Hey, so if we claim ilv from the eth/ilv slp pool and restake it. Does the ilv go back into the slp pool or the ilv pool?

[manic spindle]

Claimed ILV as rewards from the LP pool are automatically staked and as with any claimed ILV Yield Farm rewards, this is done in the ILV only pool 🙂

[lone sandal]

Guys question..if i stake 10 ilv for 365 days locked...and every reward that I get..i restake monthly...how many ILV will I have in 365 days?

[hazy token]

When I see V2 staking mentioned, is it because there is a plan to transition to a different process? or it's just a meme lol? 🤔

[cunning perch]

Hard to say. First, you don't need to re-stake anything. Once you claim your rewards in form of ILV and not sILV, they will be locked for one year and compound to your stake with a weight of 2x. If you claim sILV, it'll be released automatically to be used only in game. Also, the APY drops 3% every 2 weeks and also drops further with ppl joining the pool and rewards claimed in ILV added to it

[cunning perch]

It's meant to be ease the process and justifies the gas. For a full disclosure, gotta wait a bit until the final proposal is confirmed and approved by council and mods.

[hazy token]

ok cool. so there is a proposition being worked on 👍

[neon isle]

If you want to get a rough number i suggest you check deraji's calculator that's pinned on this channel.

[lone sandal]

Hmm I hoped that with 10 staked ILV I would receive after a year another 10 ILV 😆

[cunning perch]

Yes. Don't worry about it. It'll be released soon, but the implementation might take some time

[cunning perch]

https://tenor.com/view/morgan-freeman-hope-shawshank-redemption-gif-10676852

[cunning perch]

and yea. as @neon isle mentioned, you can use the calculaters in the pinned messages.

[lone sandal]

Tnx

[lilac coyote]

In the solo pool there is a chance that this becomes true when adding in the potential revenue distribution (not just the expected APY).

[remote urchin]

How to send illvium from gate. Io to metamask wallet

[cunning perch]

There should be a send button some where in the website's UI. You press it, copy the MM address (on ERC-20, ETH mainnet), and send it. Be advised you're gonna be charged a transaction fee for transferring your token.

[remote urchin]

Okay

[open steeple]

at this apy on the ilv core ILV gives us how much ilv per day?

[cunning perch]

depends on your bags, weight, duration of lock, what pool you invest in, when you invest ....

[open steeple]

i mean per each ILV

i have 3.28 pendent to claim, just trying to understand how to make the math on it

[cunning perch]

There are lots of useful stuff you can find in the pinned messages

[open steeple]

gonna check it out thanks

[fallen kettle]

So if the apy of the eth/ilv pool drops automatically 3% every 2 weeks, will it ever stop dropping or it will keep going until nothing left?

[dry bay]

I need more ETH in my ledger so I can stake with ILV. Can I swap UNI to ETH in ledger connected to Metamask? Or I need to transfer out, swap and transfer back in to ledger account?

[cunning perch]

It'll not be like that as many people will exit the pools to take profit which increases it. Also APY of SLP depends on price movements as well.

[cunning perch]

I didn't get that fully, but your ledger-MM wallet is still a wallet. You can swap anything for ETH using a proper DEX

[dry bay]

Ok. So the ledger account I have connected to Metamask can swap using a proper dex, and then stake as well so everything stays within my ledger account. Therefore, I am only using Metamask to be able to do all these things. Is that correct?

[cunning perch]

MM is just a bridge. You can still use it with other coins. Staking ILV doesn't mean your Ledger belongs to ILV only 🙂

[dry bay]

Ok I think I understand. On my way as gas is good right now.

[open steeple]

just made my first claim on the SLP pool and it cost me 65€/77$ ,gwei 50 i guess when it comes to fees, it wont get better than this

[hoary canyon]

Hi guys. Just wanna ask, what amount do you recommend in staking in ilv?

[cunning perch]

Hey. There is no minimum as long as the batch you're staking justifies paying the gas for it

really? is this the first time you claiming your rewards or this is the first time it has happened?

shouldn't be an issue if you use fast gas. But pending means it should go through eventually

hmmm. Ledger itself only uses the key to let the transaction go through so the problem is not your Ledger imo unless it doesn't sign the contract. if it didn't work not even with speeding it up, they I believe you should either wait for it to go through or cancel the transaction.

canceling usually don't charge or even if it does it'll be small.

so your transaction is pending without any speed up/cancel button in you MM now?

The only thing that comes to my mind is closing everything down and opening it up. But don't wanna give you false info. @manic spindle has this thing happened before?

[manic spindle]

Hmm, no idea from the top of my head, sorry.

[noble bridge]

maybe need to update firefox browser going to try that

[cunning perch]

What I would do is close everything and start again. but this is the first time I'm hearing this issue. yeah maybe there is an update required somewhere. I only use Chrome and fast gas with raised limit and my transactions go through in seconds

[noble bridge]

it was firefox update

[cunning perch]

hurray. Gonna add that to my archive for issues 😄

Don't worry. A CW is a bridge to MM. It just hold your codes. If the signing happens, it won't be a problem anymore. 🙂

[noble bridge]

yeah thats why it didnt make any sense to me

[cunning perch]

glad it worked out 🙂

[noble bridge]

but good to know if anyone else has this issue, its annoying that chrome has an issue with ledger as well

and that I have to use firefox which I never normally use

[cunning perch]

I only use Chrome, have had no issues with either Ledger or MM 🤔

[noble bridge]

my ledger wont read with chrome its like known issue

nano s

[cunning perch]

weird. I don't even HAVE FireFox and been using My Ledger with Chrome+MM like months. But I have Nano X

[exotic igloo]

O shit gas in the 40s

[noble bridge]

its a nano S issue I think with macs as well

[cunning perch]

claiming time?

[noble bridge]

dont move rah...dont even breath its very sensitive

[cunning perch]

Good to know. Hope anyone reads our texts go for X then 😄

[cyan wagon]

tomoro can drop to 20-30s...

hopefully ahha

[cunning perch]

we see 40 on Sat, then yeah, I suspect we might see lower on Sunday too, but just a wild guess when it comes to gas

[midnight crow]

Just to be clear, if I already have staked in the Core ILV pool and add more ILV then I will pay one gas fee and it will stake the additional ILV and claim the current rewords on that pool for one gas fee. Or do you have to pay two gas fees when adding to a Core ILV pool?

[cunning perch]

yes. staking a new batch in ILV pool claims the rewards too (ILV pool). with 1 gas transaction

[midnight crow]

Thank you! So, it makes sense to stake additional ILV or SLP if you were planning on claiming the rewards anyway to save gas fees?And it claims only the rewards from the pool you add to (say Core) or does it claim the rewards from the both pools (Core and SLP) if you have staked in both pools?

[cunning perch]

No just ILV pool. To claim the SLP rewards you have to claim the ILV pool first, so SLP should be a different story.

[marsh oyster]

i need to pay fees when i stake but after i staked it i need to pay the claim if i lock for 1 year in core pool ILV ?

[cunning perch]

Eveytime you claim you gotta pay gas. Any transaction done on A smart contract requires gas: claiming/staking/withdrawing/transferring/swapping

[marsh oyster]

ok but if i stake now for 1 year i need to pay the next fees in one year ?

[cunning perch]

no. When you stake for one year, you receive rewards. For those rewards to compound AND if you want them, you have to claim them. AFTER claiming them They will be locked for one year in the single ILV pool. For EACH claim, you have to pay gas. For SLP reward claims, you have to pay 2 gas every time

[marsh oyster]

okey and i can wait 1 year to claim ?

[cunning perch]

if you wait for one year and not claim your rewards, they will sit there idle and do nothing. If you want them, then AFTER claiming them, you can withdraw them one year later AFTER the claim

[marsh oyster]

oh okey and i need to claim one time or for every reward example each week

[cunning perch]

everytime you have enough rewards the claiming of which justifies paying the gas for, makes sense. each claim will receive a new one-year-lock

[dry bay]

I have staked SLP. Now if I stake ILV as well, when I claim rewards I need to claim separately for ILV pool and SLP pool? So separate gas fees is this correct?

[marsh oyster]

ok and what is the cost of claiming in $

[cunning perch]

if you have staked SLP, then just claim SLP rewards as it also makes you claim your ILV rewards too. Claiming SLP rewards requires paying 2 gas. one for ILV pool and one for SLP

[cyan wagon]

depend on the gas fee at the moment

[marsh oyster]

yeah but for now you have an idea for 65 gas fee

[cunning perch]

varies. You can check the gas on the right or wipe left if on phone (under the token price) or check gasnow.org

[mystic thorn]

this is pretty cheap for now

[marsh oyster]

yeah but for swap is 40$ for stake i see 100$ and for claim i dont know

[dry bay]

Perfect, that makes it easier. Thank you!

[cunning perch]

Anytime bro/sis 😄

[cunning perch]

Staking is always more expensive as it's a complex contract.

[marsh oyster]

ok thank's

[dry bay]

Sis, but all part of the Illuvium family! Very excited and I'm all set!

[cunning perch]

good to know. Welcome to the family 🙂

[exotic igloo]

How? The low been 70 for 3 weeks straight

[cyan wagon]

magic!

[mystic thorn]

hey it can happen just gotta believe

[ember basalt]

just want to understand a bit more about what happens when we claim sILV. the corresponding ILV gets burnt right? so the total supply of ILV goes down and the burnt amount can be mined again via staking?

[cunning perch]

you claim sILV, It stops ILV from ever being minted which reduces the total supply of ILV. Then you use the sILV in-game and it gets burned and forever reduces ILV total supply

[ember basalt]

oh it's a forever thing. gotcha. thanks!

[cunning perch]

yea I wanted to make it bold 😄

[ember basalt]

so does it reflect in other sites like coingecko? does the max supply and total supply go down? i guess it doesn't really make a difference if the count goes down. even if you don't subtract it, it will basically have the same effect as sending your ilv to the void.

[cunning perch]

well in 3 years when YF ends, there will be no more sILV and the exact total supply will be clear then. Till then, any claimed sILV means less ILV.

[ember basalt]

ah so in this case, the only way to get ILV is through an exchange? or maybe in game prizes in the future.

[cunning perch]

ILV? you can buy it from Sushi and later announced and supported CEXs

[sacred sable]

About to pull my hair out lol... Gwei is at 60 and metamask saying I need 0.06 eth in gas.. this new update is pretty bad. What am I missing..?

Tried lowering the gas limit then it fails.. when I claimed a few weeks ago I had no issues..

[brisk surge]

thats weird it should definitley not be that high right now

[sacred sable]

I got .039 eth in my wallet.. had .06 but it failed on the last one so lost some. Second time not being able to claim. This new "suggested gas fee" must be causing this.. right..? 🤔

[cunning perch]

never lower the gas limit. always increase it

[cunning perch]

Try going with fast gas and increased gas limit. but now gas is a bit expensive. It's at +100 Gwei

[daring marsh]

Hi guys, I’ve been reading through a lot of the pinned messages, thanks for all the helpful info. I’ve one very vague question.. what would you consider to be a sufficient amount to opt for SLP pools as I’ve read higher investments are needed for that

[brisk surge]

well you need matching eth for every dollar of ILV that you have so for every coin of ILV you are staking you also need 467 dollars worth of eth, but at the same time the apy is much higher

[wheat grotto]

I wonder if there’s opportunity for small purse holders to make some decent coin on this game so excited

[daring marsh]

@brisk surge gotcha but gas is higher for SLP than for core?

[cunning perch]

higher investment means you need to be able to pay 2 gas for claiming SLP rewards. So to be worth it, it's better to have more $ in it

[cunning perch]

in ILV, you get YF rewards, RevDis and you can earn by playing the game. All these three options is enough to help you with your investment plans

[swift spindle]

@cunning perch - I've seen this talked about before but want to be sure I'm right, apologies if you're unsure of this and it's too detailed.

When claiming these rewards that are vesting in a year, if we wait long enough for say 5 of the vesting pools to vest, will we be able to claim all of those together? Or will we have to claim all 5 separately even if they have all vested?

I think I've seen it answered both ways and was hoping for some clarity

[cunning perch]

claiming rewards is pretty much optional. If you think you have enough rewards in either pool claiming of which justifies paying the current gas (then), It is always a good idea to claim them as they compound and will be locked for one year

[swift spindle]

I'm talking about the rewards that have been claimed and are vesting, in a year, when those unlock, will I be able to claim multiple that have unlocked at the same time? Or will each pool (group?) that's vesting need to be claimed independently?

[cunning perch]

Ah. The team already knows about this, but as it is not an immediate matter, there's still time. The first rewards will be fully unlocked in July 2022. For now, the answer is no. you have to/can withdraw each one seperately. Later, there might be an option of adding all unlocked tokens to be withdrawn all together on one transaction

[sacred sable]

Yea it must have jumped right as I did it 🤣 I saw it drop to 50 gwei so I got on quick and tried but eth gods said "sorry bro"

[cunning perch]

yep. That could happen 🙂

[daring marsh]

@cunning perch it’s 2 gas for SLP rewards? Compared to 1 gas for ILV?

[cunning perch]

yes. claiming SLP rewards require 2 gas. one for the single ILV pool and one for SLP rewards

[daring marsh]

Oh because ILV rewards will immediately staked for 12 months in core or why do you pay gas for the ilv pool if you stake in SLP?

[cunning perch]

any ILV rewards will be locked for one year after claiming. As I mentioned in my previous pm, one gas is to claim ILV pool rewards and one gas for your SLP rewards and therefore 2 transactions in total

!staking @daring marsh

[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

[cunning perch]

!lp

[woven ibex]

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

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

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

[cunning perch]

!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

[daring marsh]

Thanks @cunning perch , much appreciated!

[floral widget]

Not sure if i understand correctly? But if the land sales proceeds goes to purchase ilv , won’t the LP suffer impermanence loss?

[cunning perch]

If ILV pumps hard, yes, many will lose some ILV to ETH. By accepting SLP, they accept IL and for that they get higher APY

[bitter dock]

From an investment perspective, would someone investing in SLP want the price to pump or not? Seems like the answer would still be yes, since they're claiming ILV rewards but wanted your thoughts

[daring marsh]

Sure if ILV pumps hard it’s still good for SLP but they miss out relativ to ILV pool

[lilac coyote]

What matters is the ETH:ILV ratio not the dollar value. If both go up in value at a similar ratio, that is a win-win scenario for SLP stakers

[steady trellis]

Ideally. I want the price to pump after the land sale, or even better, only when the game launch. More ilv from staking, more ilv from land sales

[ember basalt]

ideally you want both eth and ilv to pump but a big ilv pump is also not bad since your rewards are ilv price pegged

[bitter dock]

thanks guys. if i expect ILV to go up (relative to ETH) after the land sale, would it make sense to invest in the ILV flexible rate until after the land sale, then switch to the SLP?

obviously taking a risk with the prices, but in the event that ILV does jump after the land sale, would that make sense?

[steady trellis]

Personal opinion, I didn’t cared about that. Put a lot on SLP because I want more ILV, fuck the IL.

[bitter dock]

fair enough haha

[lilac coyote]

Yeah building up your token stack for long term gains is the goal not trying to sell for short term profits.

[daring marsh]

So with SLP you get a lot of ILV from the APY but you could lose some of the original staked ILV if ratio changes, right? @steady trellis

[steady trellis]

Yeah. But don’t expect some uncorrelated move for a while, I don’t think you should bother thinking about IL … but again… my opinion

[lilac coyote]

Yeah but if you are in it for 2-3 yrs you will make more ILV tokens than you will ever lose to IL

[daring marsh]

So you’re all in on SLP and nothing on ILV pools?

[lilac coyote]

Let’s say you have invested 20 ILV and equal value of ETH into the SLP. Over 3 yrs you are rewarded 400 ILV but your original SLP investment only gives you 5 ILV back. Was it worth it?

[steady trellis]

I bought 9 ILV initially, but quickly bought only SLP, almost 14 now.

[daring marsh]

@lilac coyote haha I’d say so

[steady trellis]

This should give you an idea of the difference

(ESTIMATION)

[hollow arrow]

Hello! There's any chance that I can stake with 40$?

[cunning perch]

Hey. you mean pay $40 for gas or buy $40 worth of ILV?

[clear cape]

ILV pump is bad (without eth pumping too)

[hollow arrow]

Buy 40$ worth of ILV

[cunning perch]

Unless you're planning on buying it from a CEX (there are some like Gate.io, but no CEX is supported by ILV team for now), it's not worth paying the current gas for. You'll have to pay more than $100 for gas to buy $40 worth of ILV

[ember basalt]

I meant that you're not actually losing money so it's not bad. You're still gaining a good amount from rewards.

[hollow arrow]

Oh, got it.What would be the minimum suggested to do it?

[cunning perch]

There is no minimum as long as paying gas is justifiable, which for $40, it simply is not tbh

@hollow arrow I suggest buying some ETH (NFA) and setting it aside for when the game is released so you can use it in-game and sell stuff and grow your portfolio.

[hollow arrow]

Thank you very much for the suggestion and your honesty.

[cunning perch]

No worries brother 🙂 happy to help

[lilac coyote]

Good advice.. $40-50 will allow you to play for several days and probably find valuable things that you can sell to keep playing

[swift spindle]

49 GWEI... what is this?!

[cunning perch]

good time to stake/claim/swap. Lowest so far compared to 3 weeks ago

[swift spindle]

Yeah I claimed this morning and staked more because 50 was the lowest i've seen in weeks

[wind walrus]

Only issue with that is you are losing 7 weeks worth of rewards. Depending on your investment that could be a couple thousand dollars missed.

[elfin bramble]

who know aproximate gas fee in ILV pool when gas tracker show around 50-70?

[cunning perch]

you can see the $ prices in gasnow.org OR when you try claiming/staking using MM just before confirming the transaction.

[still kindle]

Gas in the 40s guys !!!

[elfin bramble]

thanks waiting for budget

[swift verge]

Was thinking of adding to my core ILV stake pool but its saying i need to claim my rewards first which i know entails gas fees. Is it worth doing this or simply hodling my extra ILV on my metamask?

[cunning perch]

It's your choice. If you claim (have enough to claim) it'll compound which is a good thing. But have in mind that Gas is pretty cheap today (compared to weeks ago)

[manic spindle]

You claim the rewards within the same deposit transaction

NOT separately via the "rewards tab"! 🙂

[clear cape]

How is gas this low? Did nfts die?

[cunning perch]

Low? compared to weeks ago yeah, but Stormi is right. There was a time that 20 was a NO. now it's a dream

[clear cape]

Low as of recent ofc

[proper relic]

Guys, i have roughly 1000$ in etheruem, do you think its a good idea to invest it into ilv and stake or will it not be worth because of gas fees or current pricing

[cunning perch]

gas been low today, NO guaranti for tomorrow really. But no one can tell you what to do really. If you wanna stake ILV you have to consider gas. If you wanna go for SLP (LP) then you need to double it. If you wanna play the game then you can use the same ETH and no need to swap it with ILV. You have to plan and decide what works for you.

[proper relic]

What would you do in my shoes

[wheat grotto]

I had 1000 to stake and I put it all in the ILV pool

[exotic igloo]

You are going to lose about 10% of your stack by swaping and staking. So if you are in for the long term it is relatively okay to go ahead but you start with a 10% paper loss.

[wheat grotto]

But that was after days of thought lol

[cunning perch]

Personally, I would use it in game. There is a higher chance I could make it more by selling stuff and increase the value of my portfolio than to lose a lot on fees. That is my opinion and is a NFA ofc.

[clear cape]

Walk

[proper relic]

:/

[clear cape]

Lol not because of your amount of money but cuz u walk in shoes just to clarify, on the off chance u thought i was talking shit

[brisk surge]

Is there not any way to make the reward claim for the SLP pool claim both pools in one transaction? This is the third time Ive tried to claim it and got stuck cause gas prices changed lol.

[cunning perch]

Always go fast with raised limit. it should be fine. I have been using gas for a year now and only problem I had was "running out of gas" which I learned how to overcome.

[brisk surge]

Yeah I had it set to fast but there must have been a dip for a sec when I signed the transaction but before it was processed. Stupid thing put it in at 40 gwei so another $60 down the drain I guess.

[unkempt zealot]

hi, i need some help

[stable linden]

Can SLP be converted back equal portions ILV/Eth?

[unkempt zealot]

i tried claiming rewards on SLP pool. 2 transactions popped up. The first did go perfectly. The second ran out of gas (insufficient eth on wallet, my bad)
Now when I try to claim rewards again it requests to sign both transactions again. do i really need to sign both?

[cunning perch]

When your lock is done and if you withdraw, you will have to give your SLP back to sushi so you can get ETH and ILV back, but I believe depending on how much IL happened to it, you won't get an equal amount

[wind walrus]

Unfortunately yes. As far as I know that is the only way. Are you skilled in doing manual gas transactions?

[unkempt zealot]

maybe. if i just copy the minimum gas that appears at etherscan.io should I be fine? MM always puts an amount of gwei that is higher than those shown at etherscan.io

[cunning perch]

MM uses more gas and therefore burns more ETH.

[stable linden]

Gotcha yeah just making sure it can break back down

[cunning perch]

ofc. it's a sign you have provided liquidity and the SLP is just a key to the transaction you did on Sushi. You lock the key (aka SLP)

[stable linden]

https://c.tenor.com/EwwRxH1XEU0AAAAM/roger-roger-roger.gif

[atomic briar]

guys, is there a way for me to take a look at how many tokens are being staked? The reason for this is that I want to calculate from much money I will make based on the revenues from the land sale.
For example: if I can see that I own 0.01% of everything staked (taking into account the differents weights), so I know that if the land sales sells $100,000,000, then my rewards will be $10,000. If the land sales go for $10,000,000, then my rewards will be $1,000... etc

[mighty bolt]

Curious to see everyone process of getting their ILV/sILV/ETH

Here is mine:

1. coin base to buy ETH
   -pay their fee
2. transfer to meta mask
   -pay gas fee
3. use sushi* to get ILV
   -pay that gas fee

[cunning perch]

uniswap? you should use Sushi not Uni

[mighty bolt]

Sorry sushi*** idk why i was thinks usiswap lol

I go off the illuvium website to sushi

[brisk surge]

You got it. After that
4) Approve staking contract
-pay gas fee
5) Stake ILV
-pay gas fee
6+) Claim Rewards.
-pay gas fee

[mighty bolt]

Think about land right now so wont be staking for a bit

I do have 1.9 ILV staked already though but for 1 year lol

[brisk surge]

Yeah 1 year is the way to go. I know I’m extremely bullish but I have a problem with selling dips so it’s actually perfect for me

[spring merlin]

There's the TVL of each staking pool. 328.5M for ILV pool and 176M for SLP pool. The SLP pool is roughly half ILV. So Total ILV staked right now would be around 416M but let's round that up to 420M.

Dividing that by the $475 per token price showing on the ILV staking dashboard means just under 900K ILV tokens staked/eligible for revdis at the moment.

[exotic igloo]

Remember that all tokens staked are eligible

That includes the team / treasury / presale / seed

[spring merlin]

Ah, so the locked tokens get the revdis as well? Will have to add those tokens to the ~900k ILV in the staking pool then.

Does somewhere around 5m-6m ILV tokens eligible for revdis sounds about right then?

[exotic igloo]

around 6M now yea

Token weight is important also

[spring merlin]

Could you remind me of the weight of locked tokens (team/presale/seed/treasury) in the pool?

Found Aaron's explanation of above for anyone interested: #🥩〕staking message

[wintry hill]

Guys. Help. Been trying to swap ETH for ILV via sushiswap but to no avail. I have enough eth to cover gas and the swap but I keep on getting errors. It’s saying try to increase slippage tolerance. what slippage tolerance I used is 2%. How should I go about it?

[spring merlin]

Sounds weird. Just to start with, make sure you're using the official ILV sushiswap link from #🔗〕helpful-links

Slippage shouldn't be the issue if you're not purchasing like 100-1000 ILV. I usually keep slippage tolerance to 0.5% without issue.

[wintry hill]

I’ve adjusted it countless times already. .5 up to 2% slippage tolerance adjustments. Could it be because I’m using ledger which i connected to metamask?

[atomic briar]

thanks!!
I have to consider all the ILV I have in the ILV pool + the ILV I have in the ETH/ILV pool?
Does the unclaimed ILV/sILV count for the revenue distribution?

[cunning perch]

only staked ILV counts for RevDis. In SLP, only the ILV part is taken into account and not ETH. Also, unclaimed rewards will not receive anything nor will they compound unless claimed.

[cunning perch]

There shouldn't be Ledger-MM issue. 0.5% slippage should be enough for swapping.

[atomic briar]

and if I claim them as ILV or sILV then they will count for the revenue distribution? Or it has to be ILV only?

[cunning perch]

only ILV and NOT sILV. sILV is only used in game and has no monetary value and will not generate any Rev. It only reduces the total supply of ILV

[atomic briar]

thanks!

[spring merlin]

Got a claim in at under 50 gwei, hallelujah.

[cunning perch]

X-Mas is early this year apparently lol

[elder plinth]

Is there a way to only claim my SLP rewards ?

[cunning perch]

claiming SLP reaquires claiming ILV rewards too, so you need to pay 2 gas everytime

[elder plinth]

I have 4.5 ILV in my rewards tab. And .37 in my ILV pool.

When I click on claim on the slp pool, it tells me it will claim the slp pool first

[elder plinth]

oh shit, thanks. I'll never be able to afford claiming lmao

[cunning perch]

let it pile up then claim. It'd make sense this way

[elder plinth]

yup wanted to claim while it was cheap. but it's still 150+ to just claim.

Then I guess we'll also have to claim it all seperately when vesting ends right ?

No way to put rewards together ?

[cunning perch]

you mean after unlocks?

[elder plinth]

yup

[mighty bolt]

The APY rewards are also building on unclaimed rewards too correct?

[cunning perch]

It's not an immediate issue. The team knows about it and there might be a way to put all unlocks together for one claim. But we'll have to see. Besides, not many will want to withdraw anyway. RevDis is something that will keep the staked tokens staked forever

[cunning perch]

you mean unclaimed tokens getting rewards? no. They will sit idle until you claim them

[elder plinth]

Sorry, did not catch up lately. Where can I read about RevDis ?

[cunning perch]

!RevDis ask and you shall be rained upon

[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.

[mighty bolt]

Maybe I should have phased that differently.

APY staking % is on principle only?
Or
The principle and the rewards we obtained but haven’t claimed, together?

[cunning perch]

unclaimed rewards count as nothing. They even are not tokens yet.

[mighty bolt]

Thought so Thanks! You da bomb dot com!!

[elder plinth]

Wow RevDis seems crazy, no minimum stacked required ?

[cunning perch]

haha 25 years of speaking EN this was the first time I've seen something like that 😄

[cunning perch]

nope. Just stake and enjoy

[exotic igloo]

No. You need to claim to get rewards on your rewards.

[elder plinth]

Nice, should have near 200 ILV next year. Might want to add more now that I know this

[cunning perch]

yeah that's what I told him haha 😄

[cunning perch]

Well Hello Whale lol 😄

[signal wraith]

Gas is low time to get my rewards!

[hot lynx]

Just claimed my weekly with low ⛽

[loud quail]

when you have let's say a two month lock when staking, do you need to claim to begin the 12 month vesting period (using gas) Or does the vest start right after the lock period ends automatically?

[cunning perch]

yes. to receive your rewards, you have to claim and you'll get them one year after paying the gas

[plain marsh]

Just curious - please don't take offense - as to what your weekly claim amount is?... I've been thinking that I'd only claim every 2 - 6 weeks to maximize profit/gas...

[loud quail]

ugh, ok, thank you very much for clarifying for me, that;s what I was assuming

[cunning perch]

No worries 🙂 feel free to ask whatever is on your mind that we can help you with

[plain marsh]

Am I correct that only the Sushi LP can be Staked, while the Uniswap LP cannot be?

[cunning perch]

Uniswap? no. We're not even in Uniswap. Only SLP can be staked.

[mighty bolt]

It’s my catch phase lol been doing all the time and from old jobs to this day when people hear my name they’re like bomb dot com!……and are you the guy who turned blue(dumb story lol)

[cunning perch]

That was cool. Gonna use it on ppl now 😄

[plain marsh]

Not in Uniswap? really?! There are two ILV/ETH pools in the search on Uniswap... and much of the Illuvium documentation talks about using the Uniswap V3 pools for purchasing...

[cunning perch]

No Illuvium is solely on Sushi. I believe tehre is a tiny liquidity on Uni (made by random ppl), but officially we are on Sushi. You can even check in the website.

[paper wind]

I've seen nothing about uni v3. Which website did you find that on?

[cunning perch]

@plain marsh

[plain marsh]

One of the main places is in the Illuvium doc on Medium... in the "9. Tokenomics, Launchpad, and Reward Details"... in the paragraph about Vault Distributions. It says: "...the Vault contract uses the ETH to purchase an equivalent value of $ILV from the $ILV/ETH Uniswap V3 pool and $ILV is distributed to staked token holders..." Here is a link to the doc if it will allow me to post it: https://medium.com/illuvium/9-tokenomics-launchpad-and-reward-details-5894c3b356be

[cunning perch]

@exotic igloo do you know this?

[exotic igloo]

Needs to be edited

We were going to work with uniswap at first

But we chose Sushi after

Its just a typo mate

Everything is on sushi now

[plain marsh]

OK - good to hear from the source. Figured it was just early doc that hadn't been updated.

[cunning perch]

Problem solved 🙂 have no fear when @exotic igloo is here

[plain marsh]

Thank you! @exotic igloo @cunning perch

[exotic vessel]

what's the distribution for the non-vested claimed ILV? (is it same as flex or the LP)

[plain marsh]

Based on what has been posted here previously and what I've read this is how I would summarize it:
Claimed (but not fully vested) ILV rewards (from either staked pool) will compound further rewards via the rate for the standard ILV pool.

[elder dawn]

I would expand to say "at 2x weight."

[exotic vessel]

Oh if it's the standard one the math gets interesting for the unofficial silv market

[rancid laurel]

good to know

[novel dawn]

Help. Been trying to stake ILV on the website but to no avail. I have enough eth to cover gas . It’s saying "cannot estimate gas. Transaction may fail". What am I doing wrong?

[wind walrus]

You have ETH and ILV in your MM wallet and your wallet connected to the correct illuvium website?

[novel dawn]

Yes

[wind walrus]

Then you are going to "staking" tab and clicking on the "core"?

[novel dawn]

Yes

I get a long error message something about unpredictable gas limit

And "transfer amounts exceeds allowance"

"cannot estimate gas; transaction may fail or may require manual gas limit (error={"code":-32603,"message":"execution reverted: ERC20: transfer amount exceeds allowance","data":{"originalError":{"code":3,"data"..."

[wind walrus]

Are you trying to manipulate the gas price?

[novel dawn]

No. Not touching gas price

[ripe steppe]

are you doing this on mobile or on a computer? heard of some metamask issues on mobile

[dusk siren]

Sorry if this is explained in some other channel, but how does ETH 2.0 release affect current stakers? If at all

[novel dawn]

On computer

[ripe steppe]

does not affect current stakers in any negative way, its should reduce gas fees which will be awesome

[mighty bolt]

IS there a way to undo SLP by to eth/ILV? its only like .001 but just for future reference lol

I have tried look online but only get this love potion crypto haha

[ripe steppe]

if you buy SLP by inserting ETH/ILV, in future you can exchange that SLP once more for ETH and ILV (although the quantities may have changed somewhat due to impermanent loss being realised