🥩〕staking

[mighty bolt]

dang yeah gas is way down today. last night iwas 166 to take now its 62

[dusk siren]

Great, thanks

[ripe steppe]

tbh this is about as low as it gets nowadays

[mighty bolt]

yeah its already back at 80 lol

[ripe steppe]

56 on the gas tracker im looking at rn, anyways... enough about gas

[mighty bolt]

With the new update way i can never change it to whereit is at. Metamask just says fee to low. Do i just ignore it lol?

never mind it just let me save it, but that has happened before. weird

[lunar marlin]

when it says max fee to low for network conditions, can we just ignore that and put the number it shows for Slow in gasnow.org?

[mighty bolt]

idk i am about to watch a youtube on it. When i first started this it didn't have 3 options

[lunar marlin]

hmm ok tell me if you find out anything

[mighty bolt]

Yeah i don't get gas limit lol. I put it to the min and its like 3$ and That probably has a stupid dumb high chance of falling l

[mighty bolt]

screw staked it lol. cost me an additional 41.60 total to * stake only * not to aquire slp wayyyyy higher

[sand cloud]

What's the gas price at if you'd be staking now?

[mighty bolt]

varies. The esimate for me was 69$ but i got charged 41.60....thats just for staking though. Not including gas fee to get ILV or SLP.....SLP its super expensivve to get and wish i didnt try it out lol

last nihgt now my estimated gas cost for staking was 166 ish... so its just timing

[sand cloud]

Righto, any idea on gettign ILV?

[mighty bolt]

complete walk-though by illuvim academy
https://youtu.be/C6YugU4zZr4

[sand cloud]

I know how, just wondering about the gas fees currently XD

[cyan rampart]

Gas right now is legitimately the cheapest I've seen in the last 3 weeks

[mighty bolt]

ah gotcha:
https://www.gasnow.org/

fast is around 35-41 right now. when i did my staking it was 55

[sand cloud]

Thanks! 😄

[obtuse pike]

wait (is there going to be a flash pool this week?)

[pure eagle]

What is this mention of staking V2 that I've been seeing?🤔

[brisk surge]

admin, thank you for your assistance earlier with re adding to my SLP. all went smoothly

[warped anvil]

I looked up and saw it was in the 40's and I immediately scrambled to claim 😆

[ripe steppe]

guys all this gas talk belongs in #💬〕general or #799010390201466880 lets not crowd a chat meant to answer #🥩〕staking questions

[ripe steppe]

i dont think there is, as far as im aware there wont be one for a lil bit

[obtuse pike]

hm okay Its because i saw that someone said in the flash pool channel there was gonna be one next week or something (also what does lip mean?)

[ripe steppe]

i believe theres a staking v2 coming out, an update maybe adding certain features/upgrades but as to what this entails details have not been released, im curious myself on the specifics tbh @mint cave do you know any more on this

[pure eagle]

Thanks my friend 👍

[ripe steppe]

so I just checked and looks like i was wrong, looks like next week there will be a flash pool using the LIP token (as to what this is i have no clue) maybe they can answer this in #870290845612507176

[mint cave]

I do! we should be seeing the staking v2 for community feedback very soon, the mod team has already looked over the first draft and aaron is making final tweaks to it

[ripe steppe]

so we'll find out soon and be able to give feedback before any vote on it begins? @pure eagle

[mint cave]

kieran meant the IIP should be coming soon, which is the proposal for the next flash pool token

[mint cave]

indeed

[ripe steppe]

@obtuse pike

[mint cave]

though i'm certain everyone will be pleased with the changes

[gleaming brook]

Gas in the 50s!

[ripe steppe]

magical back door into reduced gas fees? or is that too much lol (at least for rewards claiming)

[pure eagle]

Ohhhh sounds jucy 🥩 🤤 🤤

[ripe steppe]

everyone seems to be using #🥩〕staking as a channel to post an update on the gas price, imo this crowds out the channel for actual #🥩〕staking questions and discussion perhaps #💬〕general or #799010390201466880 🤷‍♀️

[obtuse pike]

Ah okay thank you guys so much :)

[gleaming brook]

Ok noted. Just excited for those planning to stake now 😅

[covert sage]

what is the token address to silv

[mint cave]

!contract

[woven ibex]

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

[wind walrus]

Claimed SLP for 110. Much better

[hot lynx]

It's claiming season ⛽👀👍🏻🚀

[craggy ridge]

Quick question for anyone who is able to help, I was playing around with the google doc that’s pinned in this channel and Im getting significantly different results when I input into the SLP page vs the standard simplified page, does anyone know if one is more accurate or if one doesn’t have the correct formulas to explain why I’m getting the varying results

[hot lynx]

I work on the formula of claim amount = > gas fee

[remote mauve]

So my flex 1x and 2x rewards can be obtained with one gas fee. Question is if I have slp ilv/eth rewards and 2x rewards will this be 2 different eth fees ?

[brisk surge]

It will be two separate transactions if you have rewards in both the ILV and ILV/ETH pool.

[remote mauve]

Thx that’s was I was thinking by the looks of it.

[obsidian brook]

I would like to receive my rewards in the form of ILV for half of my staked SLP tokens and sILV for the other half. Is this possible?

[neon isle]

I dont think so. If you want it that way then you can just claim twice instead at half a time each.

[obsidian brook]

when you stake the SLP tokens you need to select sILV or ILV as your staking reward at that time, correct?

[neon isle]

Only when you claim your reward. Not when you stake

[obsidian brook]

Okay, makes sense, thanks

[fresh basalt]

Is the Yield Farm ILV rewards from SLP based on the total amount staked or is it based on the amount of the ILV portion that is staked?

[glass carbon]

it's based on the $value of the amount of SLP staked

[hasty glen]

just made my first Stake with sILV. pretty stoked. assuming this project is a success, I think Ill be a happy man. Also thanks everyone, been scrolling through this page and its been very helpful

[fresh basalt]

so just making sure I understand a 2Eth:10 ILV or 3Eth:8ILV SLP just for the sake of argument is the same dollar amount, let us say both of them is $10k worth. The amount of ILV they receive on a daily basis if they were staked at the same time is equal? (all other things held equal)

[glass carbon]

I think you might misunderstand what an SLP represents. It doesn't have a fixed ratio of tokens in it. The pool is dynamic so the ETH:ILV ratio changes based on what's in the pool. All SLP are worth the same number of ILV and ETH at any given time. So, to answer the question, yes every SLP gets the same amount of rewards.

[fresh basalt]

ok got it thanks!

[glass carbon]

lmk if any of that doesn't make sense btw I know it's confusing at first

[south glen]

question, if i stake at two different times with the same withdrawal time is it one gas fee or two?

[glass carbon]

2

[brisk surge]

Are unclaimed rewards subject to the auto-compounding feature, or must I claim them first?

[mint cave]

You must claim them

[brisk surge]

Thanks Jeff.

[fresh basalt]

one more thing, how do I know how many ILVs or Ethereum I have in 1 SLP, it changes from time to time right?

[glass carbon]

there are various tools you can use to check the value. I use https://app.apy.vision/, it shows the value compared to when you staked it

[umbral crane]

When i have ilv rewards from my slp pool and from my ilv pool i try to claim and it says claiming both. Is this like triple gas fees now cuz claim slp, restake slp in ilv and claim ilv?

[glass carbon]

it's just 2, the ilv from claim automatically gets re-staked

[umbral crane]

So the first time u ever claim slp its 1, then now tht u have rewards stakjng its 2 everytime?

[glass carbon]

yes that's correct. unfortunately until improvements are made it's a part of the system

[grizzled kindle]

Has staking ilv or slp stopped now

[neon isle]

no

[gloomy gazelle]

There is no plan to stop staking in either of the official illuvium core pools.

[patent moss]

Why does claiming sILV rewards costs more in gas fees than claiming ILV rewards?

[clear cape]

because it claims rewards from both pools

[hot lynx]

Staking V2 thoughts .. ideas .. 😉

[tranquil depot]

can I add to my position to the staking?

[gloomy gazelle]

It’ll be worth it.

[cunning perch]

You mean staking more, ofc. You can add how many every times you want.

[wheat grotto]

What is the purpose of V2 staking?

[gloomy gazelle]

It’s not out yet. It will take a few months to activate after the upcoming IIP is passed… if it is passed.

[tranquil depot]

do I need to withdraw first before staking again ?

[gloomy gazelle]

V2 will save stakers gas. And a bunch of other cool things too.

[gloomy gazelle]

No

[cunning perch]

No. You can stake again and again. Besides, if you're locked, you cannot withdraw, but you can still add to it, even choose a different locking period. All your choice

[gloomy gazelle]

But when you add another deposit you are currently required to claim any pending rewards in that pool.

[hot lynx]

Date 🧐 🚀 👀 👍🏻 😅

[wheat grotto]

Well we could all do with that lol .. Do you know of any good learning sources for the basics of crypto? I wanna learn in stages.. I know a little but not a great deal somethings you guys talk about I don't always understand.

[gloomy gazelle]

!define oops sorry wrong ping

[woven ibex]

There are many terms and acronyms in crypto that can be confusing at first. DAO, DYOR, HODL, ATH, KYC, DCA, DEX. To make this easy, you will find what the terms and acronyms mean using this site: https://coinmarketcap.com/alexandria/glossary Either search through manually or use the Ctrl+F search function to find the meaning.

[gloomy gazelle]

!crypto

[woven ibex]

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

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

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

[cunning perch]

The proposal will be soon whether rejected/approved. The council has to come to a decision first. Implementing it (if approved) will take some months

[hot lynx]

Can we move v1 staked to v2 👍🏻

[still kindle]

Gas in the 30s guys !!! Its been a while since I saw that....

[gloomy gazelle]

That’s the idea. But wait for the IIP, read it, and enjoy the potential

[hot lynx]

Great I get more time to earn more FIAT to convert into ILV 🚀👍🏻🙏🏻

[gloomy gazelle]

Timeline is a few months. Not super soon. Plenty of time.

[cunning perch]

Ofc. It's not an immediate update

[hot lynx]

I am super excited about this project and the #staking and ETH 2.0

[junior shuttle]

We all are!

[daring marsh]

Would you say that SLP is more long term (higher APY will make IL irrelevant over time) than ILV staking?

[tranquil depot]

Is it good to click rewards every week so it will compound more?

[lapis plank]

I m new in the crypto world, I m trying to stack some ilv, it say Insufficient funds when it come to pay the gas fee, but my metamask seems to have enough eth to pay the fee, I don t understand ...

[hot lynx]

I worked it out and it's immutable 🙏🏻⛽🚀👍🏻

[daring marsh]

Depends whether it justifies the gas

[hot lynx]

🤐

[cunning perch]

SLP is riskier in that anything can happen. IL is always around the corner and prove action and affect it.

[cunning perch]

It all depends on your decision. If gas is good and you have enough to claim, the it's always a good idea to do so.

[cunning perch]

To stake you have to first pay approval fee and then stake fee. Before confirming on MM you should be able to see the amount in of gas in $. If you have enough ETH for it, then it should go through.

[daring marsh]

Is Approval fee just once or every time you stake/check gas?

[cunning perch]

Everytime you want to stake a new batch you have to approve it first. Look at it as an entrance fee when they search you to see if you have any weapons

[daring marsh]

Haha makes sense, so it’s not easy to check gas for staking because you have to pay approval before seeing that, right?

[lapis plank]

thanks

[cunning perch]

Yeah. After the approval you can see the real gas you need to stake your batch 🙂 besides, approval fee it's always the cheapest.

[lapis plank]

first ILv stacked 🙂

let see what s happened in 365 day ^^'

[cunning perch]

https://tenor.com/view/welcome-captain-gif-18905364

[manic spindle]

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

[lapis plank]

when it say compound your rewards. I uderstand that my reward will automaticcaly go in the pool, to generate even more reward over time, am I right ?

[daring marsh]

Once you claim it, exactly

[trail river]

That's correct.

[trail river]

Welcome to the team

[cunning perch]

AND they will stay locked for one year with a weight if 2X. BUT if you claim sILV, it'll be released immediately to be used in game (just to add to the info)

[lapis plank]

allright thanks

[wintry hill]

Issue is with ledger. finally able to stake. transferred my ETH from the ledger address to the Metamask addresss (not Ledger connected) I used. transaction went through on first try. .5% slippage.

[cunning perch]

Most of us use MM-Ledger Bridge which works fine. Still maybe there was an issue somewhere else

[wintry hill]

yup. could be with my hardware. or Bitdefender anti-virus? Anyway, what's important is I finally did it. I was so eager to stake the past few days. So excited about the project. Thanks for the help!

[cunning perch]

No worries. Welcome aboard 🙂

[fading kettle]

I already staked in the SUSHI LP pool, and I'm planning to stake again, do i have to pay 2x in gas fees?

[harsh mortar]

Do you earn any staking rewards on your staked ILV that is ready to be withdrawn?

If I had previously locked it in for say 10 weeks, would I earn the weight of 1.2 or just nothing at all

[craggy field]

Yes the ILV you have staked will retain their value and will count as their initial locked value until they are withdrawn. So a 10 weeks stake will retain its 1.2x weight even after they unlock until you take them back.

[harsh mortar]

Thanks for letting me know. Wish I knew this a couple of days ago 😦

[vague sierra]

hi, does anyone know if the SLP token are transferable?

[cyan wagon]

yes gas!! a bit more

[vague sierra]

so i can send the token to someone else ? because i want to buy it for a friend since he doesnt have acces to eth and he doesnt know how to do it

[ripe steppe]

Yup, they would need to add the SLP address to their metamask, and if they were to stake it they would also need ETH in their metamask for the transactions and to claim rewards in future, but yes you could send them both SLP and ETH (the slp token address in pinned to the #💰〕token chat as well as ILV and sILV token addresses) @vague sierra

[noble coral]

how much is it to stake ilv right now???

[vague sierra]

thank you for the reply 👍 i sent him the token and eth so he is staked aswell now :)\

[gloomy gazelle]

Data from Last person to stake successfully…

Transaction Fee:
0.010665816 Ether ($36.47)
Gas Price:
0.000000042 Ether (42 Gwei)
Txn Type:
0 (Legacy)
Gas Limit:
475,826
Gas Used by Transaction:
253,948 (53.37%)
Base Fee Per Gas:
0.000000040478345333 Ether (40.478345333 Gwei)
Burnt Fees:
0.010279394840624684 Ether

It looks very similar to another one I checked too that was using an EIP-1559 transaction

[neon isle]

just a random thought, wouldn't it be great if someone made a discord bot that shows latest gas cost for all steps taken to stake on ILV or ILV/ETH. basically automate what you did rn since its one of the most asked questions.

[ripe steppe]

Another one bites the dust 💯🚀

[gloomy gazelle]

!ilvquery !slpquery !stakequery

Yeah starting like that

[ripe steppe]

Seconded

[gloomy gazelle]

I’d think there is enough API for something like that.

Bring the idea up in #814313819185741845 devs will take a look and see what’s possible. Also any community members could create such a bot and it’s possible for it to get added to the discord after some sort of vetting I’d assume

[neon isle]

noted. thanks

[gloomy gazelle]

Definitely beyond me

[lunar marlin]

I have just provided liquidity in Sushi, how come it says I have no positions in the Liquidity tab?

[gloomy gazelle]

Did you stake your SLP tokens in the illuvium core pool? Are you looking on the sushi liquidity page?

Basically if your tokens aren’t in your wallet sushi doesn’t know where they are.

[cyan wagon]

Claimed my ilv at gas 30 😋

[marsh oyster]

hello i have a question i just staked my ILV when i need to claim ?

[cyan wagon]

When u accumulate enough rewards, when the gas fee is low enough...

[marsh oyster]

okey and when i claim it they go in staked ILV ?

[cyan wagon]

Yes

[ember ginkgo]

Don't forget when you claim, they still have to vest for 12 months

[marsh oyster]

yeah so i stake 1 years but all rewards is available in one years again ?

[ember ginkgo]

"Stormi is typing..."
He'll take over from here 😄

[manic spindle]

!claim Whatever ILV you claim as yield farm rewards is only unlocked after 12 months from the time of claiming, yes 🙂

[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.

[lunar marlin]

I staked the SLP Tokens, and yes, I was looking on the sushi liquidity page

[pure eagle]

Quick question, when my lock period (52 weeks in my case) is over if I want my SLP to remain in the pool do I have to stake them again or does it just stay there with the same weight unlocked until I decide to take them out?

[fair wharf]

Do i have to pay two separate gas fees when i claim from SLP and ILV reward pools???

[cunning perch]

No. When lock is done, just leave it there if you wish. It'll keep on getting rewards and Rev

[cunning perch]

Yes, SLP rewards require 2 gas for claiming

[light gorge]

Hello whats difference between claim ilv and silv is these 2 are different token or something?

[manic spindle]

!ilv Yes, they are 🙂

[woven ibex]

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

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

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

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

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

[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.

[light gorge]

Wait may i ask some noob question? What will we earn from playing illuvium then its silv right? Or we dont earn crypto?

[wide eagle]

ETH

[austere cliff]

Has anyone claimed rewards today? Any idea how much it would cost in total to claim both SLP and ILV pool rewards based on the current "cheap" gas? Would nice to get a reference point to see whether claiming is worth it for me now.

[light gorge]

So its more confusing for me lol. where their eth come from then?

[old yarrow]

When I claim, it asks to claim each stake’s rewards. Is this required - or can I choose to only claim and restake one of them(ie just the SLP rewards)?

[wide eagle]

form the players spending eth in game(its on a layer 2 solution so there wont be gas fees). you can spend sILV but there is only 2 ways of getting sILV its staking or buying it off the open market

[lilac coyote]

Not sure if all the details to answer your question are known. One way to earn is to sell the NFTs you find for ETH on secondary market. This could include illuvitars or shards. So a player might spend their ETH to buy better equipment or illuvitars to improve their chances of success. ILV is not going to be minted for in game rewards. Also, if you are good/lucky and win a tournament you would get an ETH prize!

[nova kestrel]

Hello, if i want to buy ILV and stake it how easy is it to sell my ILV when i want ? do i need to find a buyer or how does it work ?

[cunning perch]

better to let rewards pile up and be enough to justify the gas so you can claim SLP (2 gas to claim both rewards in both pools)

[cunning perch]

!buy Hey. you can purchase ILV from Sushi using the fllowing link and instructions:

[woven ibex]

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

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

[cunning perch]

!staking @nova kestrel

[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

[fading kettle]

2 gas to claim? would that include the staking gas? 😦

[light gorge]

Ok thank to you 2 @wide eagle. I already staked some lp but i still confusing with illuvium game haha

[nova kestrel]

that doesn't say anything about selling still which is my question

[cunning perch]

No. Staking itself requires gas separately. To claim the SLP rewards, you will be required to claim the single pool rewards first hence paying 2 gas for two transactions

[cunning perch]

If you wish to sell your ILV, you can swap it using Sushi or sending it to a CEX and sell it for anyother coin. Be mindful of the gas.

[nova kestrel]

so that requires me to find a buyer ?

[cunning perch]

Selling Tokens requires no buyers like open market. You can simply swap the tokens with USDC or any other coin In Sushi Swap.

[nova kestrel]

aha that was the answer to my question

[cunning perch]

@nova kestrel if you speak Farsi you can direct your questions in #882456160349851708 and I'll help you there

[nova kestrel]

no i do not, but you already answered me. thx

[wide eagle]

The general vibe i get now with NFT's its beginning to move off the eth layer 1 platform. personally i got my fingers crossed that i will have 1 ILV to claim after my first month of staking in both pools (8 days in) . i know the double gas fee to claim, but would it be best to claim more at 1.5 and up? i mean today i got gwei at 39 buying 1 sILV off Dextool today (i double checked that the address was correct, thanks to a post earlier). my main thing is i want the compound effect so bad

[cyan wagon]

staking in ILV will change my life , i believe so

[cunning perch]

well many always wait to pay gas when the price of it is equal to 1% of the value of the rewards so it is justifiable and yet they won't miss out so much on APY.

[wide eagle]

absolute Gold! Much appreciated, i got some thinking to do🤔

[cunning perch]

We all do. Welcome to Illuvi-Academy 😄

[random crater]

Will eth gas prices reduce substantially with eth 2.0 stakers that contribute for more than say 6 months?

[cyan wagon]

my rewards wad 3.4 ILV (usd 1.6k), my claim fee was: 35 usd just now...i bet is a good deal

[cunning perch]

ETH 2.0 fixes the scaling issue and will probably affect gas a lot. Gas reduction will be then

[random crater]

Why are people claiming so early I don't really understand. Both eth and ilv seem pretty stable

I'm inclined to put money in both so the LP makes a lot of sense

[cunning perch]

Claiming rewards will compound to their stake with a weight of 2X and therefore generates more rewards. Not claiming them will cuz your rewards to sit there idle and won't do you good and you won't receive them, like ever

[cyan wagon]

absolutely !!!!

[random crater]

Cool cool

[cunning perch]

If so, make sure you understand the concept of IL and that you have to pay 2 gas everytime you wanna claim your rewards. IF you accept it, then LP could be an ok choice.

[random crater]

Are there stat's on what % people going for the LP or standard staking?

I keep thinking it makes sense but also that I must be missing something

[cunning perch]

Make sure you have a plan before you join the pool(s). AND make sure you read all the documents to know what the goals are. AND make sure you go through the Pinned Messages in this section to find out any important info that can help you

[random crater]

Great thanks. My thoughts are lock until eth 2.0 and claim when the gas fees are less wild :)

[cunning perch]

You know what's best for you 🙂 Make a plan, Stick to it and accept whatever comes after implementing it.

[random crater]

Will do! Thank you Arash :)

[chilly lodge]

hello is there a mod i can pm to ask about staking 😄

[cyan rampart]

I don't mind helping, but if it's not anything extremely personal we could discuss it here, someone else might be having the same problem 😄

[cyan wagon]

yea, many ppl willing to help and may have the same problem 😄

[chilly lodge]

oh ok so i was able to stake in both ilv and slp my question would be that i dont still really get the difference in both all i did was stake more money in slp and what would be the best on when to claim rewards ?

or can u guys tell me what u guys usually do and what do u do w the rewards that u guys claim

[cyan rampart]

Oh - well the Core Pool is ILV only and is just a staking pool. The SLP is a liquidity pool (sushi liquidity pool = SLP) and provides liquidity for people buying and selling ILV on Sushiswap.

The SLP has some risk of impermanent loss. The Core Pool does not. To compensate for IL, the SLP has a higher APY by design.

When claiming, you'll have to claim both pools at once (when claiming SLP rewards).

[cyan wagon]

do you mind to share how much u staked in SLP, so we can give an example....

[chilly lodge]

ok um so 3ilv and 1.47 slp

what do u guys think i should do or reccomend be doing to be the most efficient and maybe i guess save in gas fees?

[cyan wagon]

i would claim every 3 ILV when gas fee is low enough....not financial advice...just my way hahaha

[chilly lodge]

locked them both for 1 year btw

[cyan rampart]

Rewards cost gas fees to claim, so typically wait until gas fees are low until you claim. I personally like my gas cost to be about 10% of the rewards value, but the "best" way is completely up to you - if you think ILV will appreciate a lot, more frequent claims make more sense, as rewards claimed in ILV start compounding after you claim them.

[chilly lodge]

i see in rewards i see a claim ilv and claim silv for both which one should i choose ?

[chilly lodge]

got it

[cyan rampart]

!ilv Is more ILV, sILV is an in-game currency that currently can't be used, but you will be able to use for the land sale and the main game when it releases. Currently most people like to claim in ILV, since it can be staked etc., but it's up to you.

[woven ibex]

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

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

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

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

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

[frosty holly]

is there a min amount of ilv token required to stake guys? couldn't find info on it

[cyan rampart]

No minimum, you're pretty much free to stake however much you want, just be aware you'll pay gas fees for staking transactions, and to claim rewards from staking.

[frosty holly]

ty:)

[chilly lodge]

i see thanks currently in dashboard i can only see hm ilv i earned is there a way to see hm silv u can claim ?

[cyan rampart]

ILV and sILV are pegged (to the same value), so how much ILV you've earned is the same number as how much sILV you've earned.

You DO only get to choose one, of course.

You can decide every time you're claiming which one you prefer.

[chilly lodge]

ohhh i see so people usually claim ilv when gas fees are low then restake them if they want to correct ? and if i chose to get ilv i could convert it back to eth and withdraw it back to my meta mask is that right?

[cyan rampart]

Rewards claimed in ILV are subject to a 12 month vesting period, during which they are locked at a 2.0 weight in the Core ILV Pool, and they collect rewards of their own while vesting. This is all part of the gas fee to claim rewards though, it's not a seperate action, nor is it optional. sILV, on the other hand, isn't subject to a vesting period, and you receive it immediately on claiming.

This is only kinda tangentially staking related, but we were in a dip along with ETH. ETH price action usually goes hand in hand with ILV price action.

[manic spindle]

Token Price increase does play a role 🙂

[worn palm]

Oh of course it does silly me🤦‍♂️😆. Thanks

[frosty holly]

a little bit of a stupid question but, just wanna be sure, my ILV is on an exchange. Since ILV is an erc token, it is possible for me to withdraw ILV from the exchange to my eth metamask, with the erc network, or should i convert back to eth then send then buy ilv again? Just wanted to make sure since the exchange asks me for me 'ILV address' in which i put my eth wallet address. TY

[cunning perch]

No you can send ILV on ETH mainnet. Just make sure you send it to an ILV address. (ETH address on MM). All ERC-20 tokens can be sent directly to their correct addresses in any ERC-20 compatible wallet.

[frosty holly]

Okay what I thought, thx a lot

[lunar marlin]

Guys, if I have no SLP in my wallet, does the sushi recognize that I have liquidity? Beacuse I added liquidity and it says I have no position there. My SLPs are staked

[cunning perch]

Yor SLP token is a key. You have already added liquidity and when it's unlocked, you give your SLP back to Sushi to get your ETH/ILV back, if you want. If not, you can still let it sit in the pool and get YF rewards and Rev

[gloomy gazelle]

I’ve heard that zapper.fi can pull your info about staked tokens. Sushi doesn’t though.

[cedar harness]

Guys, Noob noob noob question. Should i stake all my eth or spare some eth to play the game, since it takes 1 yr to claim your staked ilv

[cyan rampart]

If you want access to your investment for the game launch (i.e. to sell ILV for ETH to play), you can choose to stake for an appropriate duration (i.e. not 12 months).

Additionally, you can claim rewards in sILV instead of ILV, which will give you some amount of in game spending power.

[gloomy gazelle]

You would want to keep some ETH in your wallet for transactions too. Or be ready to add more.

[cedar harness]

Thanks guys much appreciated

[kindred moat]

Why? No fees in game right?

But I guess an ETH fee to put $ilv in the game and when you withdraw it?

[cunning perch]

sending and receiving ETH ofc needs gas. In game it'll be gas free. But I believe the discussion was about if you wanna earn, you gotta have sILV and/or ETH on the side to spend in game. It is not meant to be paid for gas

[gloomy gazelle]

!silv We were talking about staking. Staking is on layer 1 ethereum Mainnet and takes transaction fees anytime rewards are claimed or deposits are withdrawn. Additionally another transaction would be needed to transfer sILV (or any other token) to IMX to use in game.

[woven ibex]

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

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

[gloomy gazelle]

This video here shares a lot of the key info. #🥩〕staking message

[swift verge]

Hi guys, i staked on the core ILV pool for 1year. My plan is to claim my rewards after the 1 year is done. Is this a good plan or is there an obvious better strategy to stack ILV? like claiming rewards every month or so etc...

[cunning perch]

claim after the year is done? don't. you gotta claim so they can compound AND if you ever want them. It is AFTER claiming that they get locked for one year.

[swift verge]

Good to know, so its advisable to claim my rewards frequently. Do claimed rewards compound automatically? Or do i need to re stake rewards in the ILV pool?

[cunning perch]

When you claim, (AFTER you claim), they will add to your stake with a weight of 2x (as they are locked for one year). It makes sense to claim only if you have enough rewards piling up, claiming of which would justify paying Gas for. (They will get staked in the single ILV pool)

[swift verge]

Awesome! this is totally gonna help me. Ok will probably claim rewards once a month and when gas fees make sense. Thanks again for the help

[cunning perch]

No worries. Happy to help 🙂

[tame tulip]

Whoever wrote this article, thanks 🙏 god bless

[elder dawn]

Glad you liked it!

[wanton cloak]

what coin do u reccomend to swap to get ti ILV on sushi for best bang for ur buck

[final steppe]

Hey Etan! The liquidity pairing is ETH so if you have ETH, definitely use that for the swap.
If you choose to swap using a different token, it will first swap for ETH and then swap for ILV and you'll likely pay more in gas fees

[wanton cloak]

oooo

so i will w8 for ETH to go down a bit

[potent wave]

any activity??

[quaint nest]

Hey guys quick question if anyone can help. If for example, I stake 0.5 eth and the equivalent of that in ILV and lock it for a year. After a year when I can claim my rewards do I get back that 0.5 eth and the equivalent in ILV or do I only get the interest or winnings of my staking.Thanks. Oh also after 1 year is over I can immediately take out all the money right ? Sorry for the long question.

[manic spindle]

!claim Rewards are immediate for sILV and vested for 12 months when claiming ILV. The balance between ILV and ETH that you get back when selling your LP tokens after a year is not necessarily the same as when you bought as it is unlikely for them to have the exact same price development 🙂

[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.

[quaint nest]

Ok yeah, it's not the same because of arbitrage but I will still get the same amount of eth and ILV I put in just that ajusted for the change in price from when I first bought to when I claimed. Thank you @manic spindle

And if I understand correctly, if I lock for 12 months I can claim after the 12 months but after, that same ILV is vested for 12 months more. So if I lock for a year I'll get ILV in 2 years

[cyan rampart]

You can claim at any time. Your initial stake becomes unlocked after 12 months (if you chose to lock for 12 months ofc), but rewards will start their 12 month vesting period when you claim them.

[quaint nest]

And what vesting does is that ILV is stacked in the ILV pool for 12 months so while locked it still producing interest.

[cyan rampart]

I think everything else you said is correct - if you decide to claim after a month of being staked, that batch of rewards will be available 1 year after you've claimed them, which is 1 year 1 month after your initial stake.

[quaint nest]

Ok, I can claim the interest from staking whenever I want to start the vesting period, the only problem is that everytime I claim I'll have to pay gas. Although the interest I've gained from staking after a month is sitting there doing nothing. If I start the vesting it will produce more interest. So although it may cost gas it may be wise that after a month of staking claim rewards so that those rewards can start producing in the ILV pool. I appreciate a lot you taking your time helping to answer questions 🙏🏿 🙏🏿 🙏🏿 @cyan rampart

I don't know if I got anything wrong

[paper wind]

Curious if anyone has done a calculation on where it may become worthwhile to stake SLP, if new to crypto.

1. CEX fees to buy and withdraw
2. DEX fees to buy (unless ILV listed at CEX? %-based fees may be better for small amount)
3. Gas fees to get SLP
4. Gas fees to stake SLP
5. Gas fees to eventually withdraw

If e.g. I'm expecting ILV to maintain its price in ETH, and to double my ILV via stake initial curve issuance, it may be worth it for a dollar amount equal to gas fees since you'd be getting revdist, right? Anyone has a ballpark estimate on the fees above?

[brisk surge]

So doing some quick math (thats me just guessing) sounds like about $240 in fees to get your SLP staked. Since the rewards are so crazy good I would be willing to lose probably 5% of my initial investment to fees. That means $4800 would be what im looking to spend to make the gas worth it.

i think the $5000 range has been thrown around by a lot of people as a good amount for SLP

[ripe steppe]

how much $ value are you playing with here, how much are you willing to stake?

[paper wind]

I've got plenty staked, just curious what's the minimum bar kind of for staking.

[brisk surge]

I think for someone who was looking at a long term investment (2 years+) starting with as little as $2000 could be viable. Just wont see any major profits for a while probably.

[ripe steppe]

there is technically no min bar, but to make it worthwhile (in my opinion) the minimum bar is around $1k in ILV pool, $2k in SLP pool, realistically the more you stake the more worth it it is (and as @brisk surge said, the longer u plan the stake it the more a lower amount is viable, but really nothing lower than the $ amounts ive given should really be viable)

[paper wind]

Gotcha, thanks a bunch ❤️

[willow vapor]

Good to know. How about in staking core ILV?

[ripe steppe]

i literally says in the comment you replied on $1k, this is my opinion and is not based on your personal situation, you have to determine whether the amount you choose to stake is worth the gas fees required to stake it (as well as future gas fees for claiming rewards)

[willow vapor]

Misunderstood, I thought to be worth it, you're suggstion is minimum $1K on ILV pool AND $2K in SLP pool. Thanks man.

[ripe steppe]

bear minimum (in my opinion, not financial advice) the more you stake the more it is worth it when compared to the gas fees involved

[wary pagoda]

Is it technically possible for Illuvium staking to eventually move to a L2 like Arbitrum? If gas fees keep rising, it could be rough claiming our rewards and paying main net fees a year from now

[brisk surge]

Staking v2.0 will be coming out soon and hopefully will address the problems. No details have been published though to my knowledge.

[manic spindle]

In theory yes, but there are no plans right now. The team will very soon come with a proposal though that is meant to change a few things around staking 🙂

[wary pagoda]

Awesome, glad to hear it's being worked on!

[exotic igloo]

We will wait for IMX EVM compatible L2 solution.

Everything will be on IMX at some point

[lilac coyote]

Can LP / staking contracts be seamlessly moved to an L2?

[normal saffron]

i want to stake my ILV but im not spending $120+ in ETH gas fees to do so lol

[fresh basalt]

gosh yesterday gas was only at 40-50 now it has tripled

[normal saffron]

its at $250 currently lol

[brisk surge]

about 12 hours from now is usually some of the cheapest gas for the week if you can wait till then.

[normal saffron]

all i got is time ^^

[brisk surge]

First time I claimed rewards I waited till 3 AM to get 50 gwei.

[fresh basalt]

3am on what time zone?

[normal saffron]

bought before the 20% crash so ya lmfao all i got is time xD

[white mirage]

Got my first 1 ILV from staking!

Pros and cons of claiming ILV vs sILV? sILV can be used in upcoming land without vesting, correct?

[hollow herald]

Do you earn APY of pending rewards? Or do you need to claim it and restake?

[cyan rampart]

When you claim, rewards enter a 12 month vesting period, during which they accumulate rewards. They are automatically staked in the Core Pool for 12 months at a 2.0 weight when you claim them.

Unclaimed rewards do not generate rewards.

[wheat grotto]

How long have you been staked for if you don’t mind me asking brother?

[mint cave]

ILV pros:

• Earns you more staking rewards while it unlocks and ever afterwards.
• Increases your revenue distribution share.
• Increases your governance voting power.

ILV cons:

• Locked for 1 year when you claim.
• Cannot be used in-game.

sILV pros:

• Unlocked immediately when claimed.
• Can be used in official sales(in-game, land sale, potentially Illuvatar sale, and others) and is pegged to the value of ILV at the time you spend it.

sILV cons:

• Does not earn any staking rewards.
• Does not receive any revenue distribution.
• Does not increase your governance voting power.

[hollow herald]

Thanks!
Is there an amount of pending rewards when it’s worth claiming?

[lunar marlin]

I was wondering the same.

[cyan rampart]

It's entirely up to you, and typically depends a lot on how much gas you're willing to spend ETH on.
Personally, I like to limit gas costs for my claims to something like 10% of the value of rewards I'm claiming, but this number is different for everyone.

[wheat grotto]

It’s been 4 days since i staked my investment .. If my stake is earning around 0.0100 does it accumulate that every 4 days? when is it worth claiming .. gas has been lower but wanna try and claim as often as I can

[cyan rampart]

The APY varies, so it's not guaranteed to earn 0.0100 every 4 days, but should be close to that if the APY doesn't change much.

[hollow herald]

I’ve had 5 ILV staking in the ILV pool for about 2 months and just reached 1 ILV rewards.
Bought 4 more recently and staked it into the SLP and I’m earning .12 ILV per day.

[wheat grotto]

What amount is worth claiming in your opinion?

[cyan rampart]

This depends a lot on gas prices. When gas is low, I'm willing to claim about .8 or .9 ILV. Again though, this is personal preference and shouldn't be a basis for you to decide when to claim.

[wheat grotto]

I think it’ll take me a while to get there anyway lol, thanks.

[ripe steppe]

#🥩〕staking message there are calculators available to help you get an idea of when is the right time to claim rewards for you personally (as it depends on your own investment and other factors)

Does anybody know if there is a difference in the gas fee if you were to claim rewards from ILV pool and if you were to claim rewards from the SLP pool (obvi claiming from SLP pool also claims ILV which is an added gas, but the SLP on its own and the ILV on its own, are they both equal gas, so double when claiming SLP because of the tacked on ILV pool claimed or are they different at core?) @elder dawn

[elder dawn]

I'd need to look, but anecdotally, the SLP claim has always been higher for me. When I claimed this weekend (hooray sub 40 gas!), my first transaction was $30 and my second was $35. Same last weekend at higher gas (mid 80s Gwei), first was $68, second was $92. Seems SLP is a slightly higher gas use regardless. I haven't looked at numbers other than the price to compare

[ripe steppe]

Yeah I claimed today and it was $50ish for first then $80ish for second, so yeah SLP is a higher gas use regardless as it is a more complex form of stake

[brisk surge]

I think it also costs more based on the amount of ILV you claim. So the SLP pool could be more expensive because it has more rewards.

[ripe steppe]

I’m not sure about this as the way the transaction works does not change (although I have heard that claiming rewards gets slightly more and more expensive each time you claim, perhaps because you are claiming rewards from more and more stakes (like the previous reward you claimed is now vesting so next time you claim you claim the same as before plus the extra vested rewards from the previous claim)) can you offer more clarity on this @manic spindle

[brisk surge]

This is probably what I read and I misunderstood. Thanks for the correction.

[sour oar]

Can someone explain what staking is?

[mint cave]

!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

[sour oar]

Thanks

[ripe steppe]

Anyone know the exact correlation between gwei value and the cost of staking ILV or SLP @mint cave

[mint cave]

not off the top of my head, one would probably need to comb through etherscan data to get a good sense of this

[high pond]

hey guys new here..when i rpess stake and press max, he says " please enter an amount" ??

[mint cave]

you may need to trim some of the trailing decimals

[ripe steppe]

was afraid you might say that 😆

[wild spindle]

hey guys, I am all good on ILV staking, but have a staking question in general to make sure I understand the fundamentals. I staked ROUTE in the pool (screenshot below) a while ago for 6 months. It states "tokens staked out and rewards can be linearly claimed over a period of 90 days". It shows what I can claim in both staked ROUTE and DFYN reward. My question is, if I withdraw the rewards available (280 of each), will the rewards continue to be calculated on my full originally staked 507 ROUTE or will the 33.96% APR be only calculated on the remaining 227 route (507 less 280 unlocked). I dont need these rewards, can leave them in there, but if they are not really generating return, I'd obviously rather move them to my wallet. Many thanks.

[mint cave]

no idea, probably a better question for #795846467084484619 to see if anyone is familiar with that platform

[wild spindle]

Thanks, just popped the question on yield farming too.

[white mirage]

No problem

So 27 days, 12 month lockup. When I started APY was ~90%, currently ~73%

[paper wind]

Hey, what influenced your choice not to go for the SLP pool for that amount?

[white mirage]

If you look at the data from sushiswap, the single side staking performs better. Too much IL.

[ivory tusk]

I don't think IL matters too much when you're getting 500% returns

[white mirage]

Yeah, definitely depends on the time period and multiple factors. For me, I'd rather go with the product I understand better and I expect ILV to outperform ETH significantly -> higher IL.

For anyone interested: https://analytics.sushi.com/pairs/0x6a091a3406E0073C3CD6340122143009aDac0EDa

Time period really matters.

[ivory tusk]

it might, at this point i dont think there is much to worry about. if you did immediately after accumulating ILV at $50....maybe but at its current price i dont think the risk is that large

if you compare what you lose to IL to what you get in rewards at its current rate and its a no brainer even if ILV outperforms ETH by a lot

[white mirage]

I also saw reports from some people providing liquidity on getting much lower returns than they expected and not being able to figure out why. Again, for me I'd rather reduce unknowns on an already fairly risky play.

[ivory tusk]

im in it quite heavily and it gives me a crazy amount of returns, more than id think legal lol

doubled my stake in about 2 months...wild

[white mirage]

I have bought some more ILV since I staked though and plan on buying more. So I may try liquidity providing with a shorter lockup ending before March investor unlocks.

Have you claimed?

[ornate cypress]

I staked in SLP and im getting great returns, I wish I put more

[hot lynx]

🐳

What was the #🥩〕staking % the day the LP pool opened

[lilac coyote]

lots and lots of %... emissions were highest in June/July and not as many people in the pools. In early August it was 650-720%.

[random crater]

So regardless of the lock up time, the rewards can be claimed at any point as long as gas fees are paid?

Actually nvm, I just checked my account and it says my rewards are there and claimable. Just staked/locked yesterday

[zenith thicket]

Hi just wan to ask about swaping eth to ILV i always gets an error or try to add more slippage, how much to i add? And also the gas fee is high

[lilac coyote]

what web browser and wallet are you using

[zenith thicket]

Metamask

Google and metamask and my ledger is connected to it.

[lilac coyote]

check what version of metamask

should be 10.0.3

[zenith thicket]

10.0.3 it is.

[lilac coyote]

not familiar with google browser.. i use firefox and it works great. the issue around EIP 1559 is that metamask didn't have updated 1559 support for some browsers.

[zenith thicket]

Ok ill try firefox thanks

[lilac coyote]

This may or may not be the solution since you do have the correct version.

[delicate pawn]

How do I stake my sushi? Says I have 0 to stake but I definitely have sushi

[mint cave]

you stake the sushi LP token for ILV/ETH, not the sushi token

[delicate pawn]

Fat rip lol

How do I acquire sushi lp

Sorry this is the first time I’ve ever staked

[zenith thicket]

Should i run metamask extension in private windows ? Sorry for the dumb question. Im so new to this

[lilac coyote]

In sushi swap with the ETH -> ILV pair select 'liquidity' from the (swap - limit- liquidity) options bar. Then put in the amount of ILV and an equal $ value of ETH. You will then get ILV SLP tokens which can then be staked on the staking.illuvium.io page. Warning: lots of gas is used for these 5-6 transactions

[lilac coyote]

It doesn't matter, I don't because it's a hassle to set up.

[delicate pawn]

Ok go it thanks

[rare hazel]

teach me.

who's online right now ?

[rare hazel]

i just did this. the mm fee for this transaction is only $10, compared to the $50 to buy ILV. and then staking SLP looks like the APY is 544% compared to the ILV APY 73%. looks like it's a no-brainer to get the SLP and stake it since both the gas is cheaper, and the APY is much higher.

[lilac coyote]

not sure about those gas fees. the SLP requires higher gas fees to interact with than the solo ILV pool. you might be looking at the fee to approve the SLP contract

[rare hazel]

maybe i'm doing something wrong / not understanding something? can I DM ? slowmode is annoying lol.

this is what i see when i try the liquidity thing.

compared to swapping eth to ilv

[neon isle]

this is not the only transaction you're gonna be doing on slp staking.

[neon isle]

this might help you get a better picture, this is all of the transactions i did to stake my lp tokens a couple of days ago.

And it looks like you're still at the second step

[rare hazel]

u spent $132.42 to stake the slp ??

[neon isle]

Yes

[lilac coyote]

it is a costly investment. I don't want to ask the size of your planned investment but have to take into account not only the up front fees but the ongoing fees associated with claiming the rewards

[rare hazel]

i thought about buying 5 ILV. i can either buy the ILV and stake it, or i can try and stake the SLP , which looks like the interest is significantly higher.

[cyan rampart]

I'm currently staked in the Core Pool and I wish I'd staked SLP. It's mostly a question of whether you can afford to claim rewards from the SLP - it can get SUPER expensive.

[rare hazel]

how expensive are we talking? i mean the interest rate is like 500+. i've never seen interest rates like that in anything in my life lol

[lilac coyote]

i do like the SLP at 12 month lock. Main thing is to be aware of the high cost and to plan your claims accordingly. With that size SLP probably waiting 4-6 weeks between claims will be ok.

[cyan rampart]

When gas is unreasonable, like $100-$150 to claim. That's when gas is somewhere around 80-90.

You do have to claim both pools after your initial SLP claim, because rewards end up in the Core Pool.

[rare hazel]

i've never staked. this is foreign to me. what are these pools?

[cyan rampart]

!staking

[woven ibex]

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

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

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

[cyan rampart]

I'd recommend checking out the video here for a bit more info

[lilac coyote]

tbh, going into the solo pool is much easier and headache free. check in again in 3 months and claim rewards.

[rare hazel]

i viewed the video earlier today. that's what made me want to do it.

[cyan rampart]

Ahh - so the Core Pool is just ILV and has lower rewards, but no risk of impermanent loss - the SLP is a liquidity pool, and has a risk of impermanent loss, but the rewards are much higher to compensate.

[wraith charm]

When can I claim LP rewards and not have to claim both single stake ilv and LP at same time? Wasting gas when I do this

[cyan rampart]

At the moment, you have to claim both pools.

[rare hazel]

do u stake in ILV or SLP ?

[cyan rampart]

I'm in the Core Pool but in hindsight I would have staked in SLP.

[rare hazel]

even with the crazy gas fees? do u think the rewards outweigh the gas fees?

[cyan rampart]

I do, but a lot depends on your initial investment.

I also have steady income to keep up with gas fees for claiming.

[brisk surge]

hey at least they are starting to calm down a little

[rare hazel]

u mean steady income from some crypto investment? i have a job too, but don't want to use that paycheck for this lol.

[lilac coyote]

Good thing is you do not have to claim. You can wait for gas to be cheap (ie <40). Even still it is a hefty set of fees to claim.

[rare hazel]

do the gas fees correlate with the amount of rewards you're claiming? if no, then it might make sense to invest more so the rewards can outweigh the gas.

[lilac coyote]

no, gas fees are expensive due to the complexity of transactions involving liquidity pools and the fact that you have to claim the solo pool every time u sweep rewards into the solo pool

can be $250 for a claim if gas is moderately expensive.

[brisk surge]

what is it at now do u know?

[lilac coyote]

gas is 62 gwei

[brisk surge]

do you know how that correlates to claiming rewrds?

[gleaming brook]

track it at https://www.gasnow.org/

[lilac coyote]

expensive... i would love to see gas around 20

going to be somewhere between $150-200 worth of eth in the 60s

we'll get some short term relief as people move to L2 solutions like arbitrum. in the longer term gas on L1 will rise back up permanently as the L2 solutions eat up the block space

[cyan rampart]

Hopefully shard chains are a thing by that point

[lilac coyote]

by then us plebs won't be touching L1

[brisk surge]

damn so claiming must be pretty complex

[rare hazel]

do you'all stake any other coins? what do u think about BNB or HERO ? pros/cons?

[lilac coyote]

#799010390201466880 or #795845536128303175 or #795846467084484619 . Personally I don't go near binance

[gloomy gazelle]

Not really. Watch the part of the video on SLP/ETH/ILV

!staking

[woven ibex]

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

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

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

[gloomy gazelle]

!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.

[gloomy gazelle]

Check out the other things pinned in this channel too.

[grand finch]

When I claim, the gas has to be paid with eth from my wallet or Its auto deducted from what I'm claiming?
Thanks for your answers
😁

[gloomy gazelle]

Paid in ETH.

!gas

[woven ibex]

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

[knotty river]

pelican22 [won’t DM first]

:fuelpump: Current gas prices

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

74 Gwei

Average :person_walking: | **3 minutes**

74 Gwei

Fast :zap: | **15 seconds**

75 Gwei

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

[gloomy gazelle]

This video has good stuff about staking https://www.youtube.com/watch?v=C6YugU4zZr4&t=1s

[grand finch]

Thanks, atm what is an average fee for claiming? Someone got recent examples at different gass cost?

Pd I have 0 experience in crytos, I have learn a lot in 4 days of reading 😅📖

[gloomy gazelle]

!gas is variable but this was from this morning #🥩〕staking message

[woven ibex]

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

[knotty river]

pelican22 [won’t DM first]

:fuelpump: Current gas prices

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

63 Gwei

Average :person_walking: | **3 minutes**

63 Gwei

Fast :zap: | **15 seconds**

64 Gwei

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

[gloomy gazelle]

So the limit and gas used should be similar. Playing around with gas limits is not a good idea.

But the gwei is what is variable.

[grand finch]

👍 thanks for the info

[silver nebula]

If I went to add to my LP stake, and claimed my existing rewards but ran out of gas to stake more. Then topped up my account with ETH, do I need to reclaim my staking rewards?

Reckon I've blown almost a grand on gass fumbling with this reward claiming $H17

[hot lynx]

Wow ye .. it's now down to 540% on the one yr lock

[hot lynx]

Only when the rewards > gas

[brisk surge]

question, when our vesting rewards for ILV have been unlocked will we need to pay a gas fee?

[gloomy gazelle]

You will need to pay to withdraw them. But you can leave unlocked tokens to continue earning at your locked rate.

[brisk surge]

ok great, so i should let the reward build to say 6 tokens to save on fees v unlocking each time a hit 1 ILV...correct?

[gloomy gazelle]

Oh yeah for sure. Maybe even more than 6 ILV claim because gas fees are so high recently. But it’s up to you.

[brisk surge]

cool, was thinking the same. thanks

[hollow kelp]

What token is used to stake in the Sushi LP core pool?

[forest ocean]

when you provide ILV-ETH liquidity on Sushi, you get a token kind of like a receipt. you stake that

[hollow kelp]

Whats the rate of the token? Linked to the APY of the pool? (~2%)?

[forest ocean]

when you stake that sushi LP token on the illuvium website, you get 544.13% APY. maybe im not getting what youre asking. where is the 2% from?

[hollow kelp]

The apy in the sushiswap pool. Pree much asking, if I stake 1 ILV (and equivalent ETH) in the ILV/ETH LP, how many tokens do i get to stake in the Illuvium website pool?

[forest ocean]

oh i see what youre asking. i actually dunno.

[junior shuttle]

Sushi will calculate that for you when you go to add liquidity i think

[silver nebula]

Does anyone know if the staking return calculators in the pinned comments factor in the drop in APY when the Seed/Pre-Seed tokens vest and will inevitably be added to the staking pools?

[gleaming brook]

Where can I check the price of 1 SLP? Thank you

[silver nebula]

USD2,500 according to my dashboard atm

[gleaming brook]

thanks, how can i see this dashboard?

[silver nebula]

https://staking.illuvium.io/dashboard
When connected to your metamask wallet

[gleaming brook]

Thank you, I just found it on Etherscan as well

[quiet hatch]

Hello, I've tried to search as much as possible before asking anything, so I hope these questions are okay.

A few points I'd like to double check:

1. Staking rewards ($ILV) are unlocked 12 months after they are claimed
2. Claimed staking rewards ($ILV) are automatically reinvested into the pool for 12 months, with a token weight of 2.0, and contribute yield for future claims
3. $ILV paid as part of revenue distribution (not staking yield), has to be claimed, but is not subject to a locking period

And a few questions:
4. Can staking rewards currently be rolled over for an indefinite period before they're claimed? Because the Tokemonics article states "The ability to roll over is tied to in-game activity. Effectively, to avoid having to make weekly claims, the linked account must be active for a minimum time period.", but the game is not released yet? (https://medium.com/illuvium/9-tokenomics-launchpad-and-reward-details-5894c3b356be)
5. If I withdraw my originally staked $ILV from the flexible pool, will I still receive any previously claimed $ILV rewards after 12 months?
6. When I claim $sILV as a reward, what happens to the $ILV reward that would have been locked for 12 months?

Thank you!

[silver nebula]

1. Correct
2. Correct
3. Not sure, good query
4. Yes, no current restrictions on in game activity
5. Yes, the ILV reward is a separate lockup, not dependent on initial stake
6. I understand this is burned, but would welcome confirmation also

[brisk surge]

Correct, it's burned you make the choice to either claim as ILV or sILV, so using sILV in game and upcoming land sale will burn that amount in the long term is better for ILV.

[silver nebula]

So everyone else claim in sILV please! More (percentage) rewards for me!

[wheat grotto]

Thank you my friend 🙏🏼

[ruby ridge]

Hey guys with the current lower gas fees, is it feasible to stake 2 SLP? (2 ILV + ETH equivalent iirc) Not planning to claim rewards often though just hodl.. 🤔

[brisk surge]

If you plan is to accumulate tokens then yes.

[ruby ridge]

Thanks for the reply. Withheld staking due to gas.. Will probably try out the single core pool as well for future top ups.. Small bags 😅

[granite halo]

Gas in the 30s woaaahhh

How much would it cost to stake SLP at this rate?

[quick flare]

What does staking v2.0 bring?

[iron kindle]

There is a bug on the web when making a claim. I have tried 2 times to do it in the Sushi LP pool but it does it in the other one (ILV) even with the button disabled after the first one. Can you please help me? I have lost 2 etherum transactions :/

[plain nest]

Wait 10 minutes. Refresh page, you probably have claimed LP pool but hasn’t updated yet.

[iron kindle]

I am 100% sure I made it on SushiLP both times, after first try the buttom of the LP pool looks disabled so there was no way to fail 2 times, I have photo. 2 Times I paid for claim on one pool and I recived the reward of the other pool. First try last night, second try like 4 hours ago.

[silver nebula]

Does anyone know if the staking return calculators in the pinned comments factor in the drop in APY when the Seed/Pre-Seed tokens vest and will inevitably be added to the staking pools?

[neon isle]

@elder dawn

[brisk surge]

You can calculate what the current APY is but no you would have to try and estimate that.

[honest mantle]

I've had the same issue today. Claimed ILV from LP twice but actually claimed the ILV from my staked ILV.. posted this in #help and waiting for reply

[golden sable]

Guys I can't access my wallet atm, can someone tell me what is the current APY in the single ilv pool?

[wind walrus]

72.5%

[golden sable]

Thanks

[rare hazel]

Quick question on staking, it just kinda hit me. I know one is i just stake ILV at 72% APY. So for that one i just have to get ILV on sushi swap.

There's the other one (the liquidity pool) where I can stake the ETH/ILV (SLP?). Does that one mean i have to stake Both ILV AND ETH? So I'm really staking double the value of the first one? So I'd have to get the ILV from sushi swap and then still have as much ETH remaining in my wallet?

[lilac coyote]

#🥩〕staking message

[iron kindle]

I am still waiting, if they solve it for you please tell me what to do

[gritty viper]

hi guys, im new to illuvium and just purchased my first ilv, can i please get some advice on how staking works and also should i stake if i only have 1 ilv?

[wind walrus]

Kinda. You would need ILV and ETH in your wallet that match value. Then you add liquidity to Sushi and they give you SLP token. Then stake that token on Illuvium

[wind walrus]

Have you read all the Info pinned in this channel and used the calculator?

[brisk surge]

this is a great video to watch to learn about staking https://www.youtube.com/watch?v=C6YugU4zZr4

[gritty viper]

no i havent, whats the calculator for?

[gritty viper]

ok great thanks alot

[brisk surge]

to calculate the compounding rewards and what your investment will look like at the end of your lock I think

[gritty viper]

o ok where can i find the calculator?

[wind walrus]

All pinned in this channel. Calculator is under Cooper

[gritty viper]

thanks ill go through it 😄

hi can i please ask what is sushi LP, SLP and SPL?

[wide eagle]

sorry it was a spelling error on my part Sushi LP and SLP is the same thing, SPL was the mis spell

[gritty viper]

o ok, what is sushi LP?

[brisk surge]

sushi LP is a liquidity pool where you put in matching eth and ILV

[gritty viper]

what is liquidity pool? is it where everyone will put their ilv when they stake it?

[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]

@wide eagle just to have helped you haha 🙂 sorry I'm a bit busy these days. Glad to see ppl helping one another

[wind walrus]

I suggest watching a few YT videos to help explain liquidity and SLP Tokens

[gritty viper]

ok thanks, im tabbing all the articles in the pinned messages to go over them to hopefully understand it more

[wide eagle]

it has a higher APY than the standard ILV pool, but comes with the risk of impermanent loss. but NFA if your in it for the long game as an investment the yeild from SLP is higher. look at #🎨〕community-content @ripe steppe has a amazing vid explaining it

[wind walrus]

Sounds like you are fairly new to crypto. You have a lot to learn but all the knowledge will put you far ahead of rest of society.

[gritty viper]

what does NFA mean?

[wind walrus]

Not Financial Advice

[wide eagle]

Not Financial Advice

[gritty viper]

yes im very new, i only started when axie came out, and i rly enjoyed it, and i think illuvium is rly cool and wanted to get into it too 😄

[gritty viper]

ah i see

[wind walrus]

We are glad you're here. Read as much as you can a watch some videos. They will help the most. Then feel free to come back and ask any other questions you have.

[rare hazel]

Welcome. I'm not too far ahead of u. I'm familiar with crypto, but not familiar with staking. Been reading and watching YouTube since yesterday lol .

[gritty viper]

thanks for being so welcoming guys 😄

[brisk surge]

goodluck

have checked previous chat before asking.

relating to the land purchases and the distribution rewards paid to stakers. Will all land sales within the game be then used to purchase ILV via sushi and then distributed to stakers dependant on their weight? and if soon how soon after the initial land sale will the distribution take place?

[wind walrus]

All purchases made with ETH will count toward RevDis. We are not sure when or how often the vault will purchase ILV

[brisk surge]

so if it is purchased with sILV then for every token used, an ILV coin will not be minted therefore bringing the price up, if they are purchased with eth then yes ILV will be distributed to the ILV holders, but we are not sure how soon after this will happen

cool, thanks

[covert sage]

I’ve been trying to buy extra sILV off the sushi swap why is the price going up?

[grizzled hawk]

Do you mean the SLP or ILV?

[wind walrus]

It will fluctuate with available supply and demand. As the trailer and land sale gets closer it will only keep going up

[grizzled hawk]

It is usually the gas fees that keep fluctuating if you see it changing within seconds

[covert sage]

I was going to buy some 2 weeks ago to prepare for the land sale the price was way more favorable.

[wind walrus]

I bought for 190 using USDC on Saturday. What is it going for now?

[void marsh]

Every dip is bought up but we dont know when the land sale is

[covert sage]

Can the land be sold on opensea?

[void marsh]

Land isnt out yet

[wind walrus]

Yes

[covert sage]

I better get my sILV now. that sounds like sILV might be the same price by land sale.

[void marsh]

You can only stake ilv for silv

[wind walrus]

That is my thought as well. It will track fairly close when auction comes.

[wind walrus]

You can buy silv from Sushi

[covert sage]

I can see people cashing sILV like I’m playing too do. Buy land 5x and keep staking.

[wind walrus]

Yep, silv gives shrimps like me a chance to own land

[cyan wagon]

gas is back !

[ripe steppe]

anyone know the contract address for the sushiswap contract where you insert ETH and ILV and get SLP

[cyan wagon]

ETH/ILV SLP Token: 0x6a091a3406e0073c3cd6340122143009adac0eda

[iron kindle]

Some dev or admin can help me? I lost my money for this problem when I try to claim reward. More people have the same problem.

[ripe steppe]

not the one im looking for, has anyone recently inserted ILV/ETH into the liquidity pool and willing to give me their metamask address so i can checkout some info on etherscan about it (compiling some math for the community, will benefit all)

[rare hazel]

Holy mother of gas.

Good time to be a miner.

[abstract crown]

Miners don't really benefit from gas anymore, EIP-1559 ruined that

[wind walrus]

We still get a small bump but not as good as it was but ETH gets burned so it's all good

[abstract crown]

We get the new miner tips, but as you said base fees are burned, so high gas fees don't really benefit us any longer.

sorry this convo doesn't belong here, my bad

[white mirage]

Feel like I f'd up now doing ILV core staking instead of SLP

[silver nebula]

muhahah, more rewards for meeee

[white mirage]

Guess it's time to buy more ILV and do SLP staking. What amount of ILV roughly makes it worth doing SLP?

[silver nebula]

I think 1 ETH matched with 1 ETH worth of ILV is appropriate starting point for SLP

[white mirage]

Dope thanks. Ooh I see market broke 20week support and ILV down 18%. Gonna get some bags soon!

wait, what? You took at a home loan? Mad man. We just bought a car, wifey wanted to put $1000's down. I said NO. $0 down, take the cheap 1.9% money, and invest that sheeet

[gusty magnet]

Hey, quick question regarding the SLP acquired though LP of ILV and ETH... How is it calculated? Is there a formula for it?

[paper wind]

This seems to be the latest supply tx: https://etherscan.io/tx/0xbe2687f278c04e4d048edd49a00d6680de0a7f55b5bb08658bf2dfdec3afe37d

[ripe steppe]

thanks bro, i managed to figure it out

[floral widget]

Depends on gas price … don’t do it now…

[muted timber]

can someone please post that graph of the decreasing rewards of ILV and SLP/ILV over the 3 years?

[hollow kelp]

Guys, can anyone tell me how many ILV/ETH SLP tokens we get for providing liquidity (in order to stake on core poop on website)?

[white mirage]

Assuming I can wait for gas to come down (I can), it sounds like 1 ETH and 1ETH worth of ILV ~ 2 ETH total makes it worth it

[silver nebula]

https://medium.com/illuvium/9-tokenomics-launchpad-and-reward-details-5894c3b356be

[muted timber]

thank you!

[silver nebula]

BTW, the big thing for anyone investing now to remember is that in March yield will decrease by about 70% due to currently locked tokens becoming unlocked and being eligible for staking rewards.
This will also likely cause a price dump at this point, which may or may not be countered by treasury buying ILV with revdis.
So dont expect these numbers to last forever.. But given more ILV is currently staked, and the only new ILV being minted is the yield farming (which is subject to 12 month vesting), APY should be relatively stable (but decreasing steadily) for the next 5 months

Because of this: https://gov.illuvium.io/#/ilvgov.eth/proposal/QmfGnYZiJn4UDnVrnAoY5HhN5YBmvkpfnkL2vgAtmHVVnY

[mint cave]

the locked tokens unlock linearly over 365 days, so it will not impact yield or the price that dramatically

also, a large portion of the team tokens are unlocking over 3 years instead of 1 because of their voluntary increase in lockup period

[silver nebula]

Do you have link to specific vesting periods for # of tokens?

[elder dawn]

its a little over 200k per month unlocked. the last month had 120k tokens staked in the ILV pool on its own. The bigger issue is due to the fortnightly 3% decrease, rewards per period will be about half of the starting rate

[elder dawn]

here's my unofficial review of the unlock timing. https://www.publish0x.com/ilvfi/illuvium-ilv-timeline-and-token-unlock-potential-major-price-xknpzoj

[white mirage]

Yeah, thinking of doing SLP staking with unlock just before March investor unlock. Thanks for the writeup will check out the article

[mint cave]

all team and seed unlock over 1 year, only the tokens owned by upper management have a much longer unlock(approx 14% of tokens)

https://twitter.com/illuviumio/status/1427885586040328192

Illuvium (@illuviumio)

1/3) We believe in the long-term value of $ILV. To show that we are here for the long haul, Illuvium’s upper management has decided to increase their token lock by an additional two years.

Retweets

127

Likes

948

Twitter · Aug 18, 2021, 6:50 AM

[iron kindle]

Dont use "Claim" buttom on the web if you are staking more than 1 pool, its bugged and you wont recive the reward that you want.

[silver nebula]

That is EXACTLY what I was looking for, can't believe I didnt find that earlier, thanks for your work 🙂

Is that model factored into your spreadsheet calculator @elder dawn ?

[cunning perch]

If you are referring to SLP, if you claim SLP rewards, it'll automatically claim your ILV pool rewards too which means you have to pay 2 gas. I don't suppose there's anything wrong with the pool.

[iron kindle]

I clicked on the claim button of one pool (Sushi LP) and it gave me the reward of another (ILV), 2 times, 2 different days. There are more people with the same problem. I lost 2 etherum transactions cause of this problem in the web. After the 1º try the claim button of ILV pool appears unapproachable but anyway at the 2º try same problem... I recived reward of the ILV pool and not Sushi LP.

[cunning perch]

@manic spindle have you seen this problem before? 👆

[hollow kelp]

@cunning perch is ilv/eth sushi lp given out at 2% p.a?

[manic spindle]

Got no idea about that from the top of my head, sorry. Also need to be off earlier today, so won't be much on until tomorrow again

[iron kindle]

@cunning perch If you see the chat, Thijs_Gr#3348 got the same problem

[wind walrus]

There should have been two TX back to back. One TX for ILV and one TX for SLP. You must do both back to back. Did you pay for both TX?

[cunning perch]

That's what I suspect. Lots of ppl are claiming without an issue.

[iron kindle]

Yes, I did. I can show you the photo of my illivium acount with the rewards from the ILV pool and not SushiLP pool 😦. Mi english its not good, maybe if I show you 2 images you will understand my problem.

[wind walrus]

Hopefully a mod can help. I had no issue claiming Saturday. Cost around $35 for 1st TX and $70 for second TX. After I paid the first I waited and then the second one popped up on MM and I paid it.

[tacit mesa]

hello sirs, i just needed to confirm something about the SLP pool because we had been using derajis calculator.. the change in APY is only dependent upon the number of people in the pool right? IMPERMA LOSS has nothing to do with it correct?

yes.. deraji is typing.. thank god..

[elder dawn]

the apy for the slp is complex and based on 1) number of people in the pool, 2) 3% fortnightly reduction, 3) the price of both ETH and ILV, and 4) the ratio of the price.

the actual number of rewards tokens is easier, its just staking weight, number of token in the pool and rewards available. How APY is calculated makes it more complex

[marsh oyster]

when we get rewards ? every weeks ?

[elder dawn]

rewards are issued every block, you'll see it update frequently. you only technically receive them (or start the 12 month vesting) when you claim.

[marsh oyster]

yeah but i wait 24h i did the operation to check in one year but my math give me 50%apy :/

[tacit mesa]

thanks.. you were the exact person i needed to reply.. i just needed some clarity again.. also thank you for your articles.. 😁 well written and helps the community a lot.. please make more of it..

[ripe steppe]

I have created a Calculator that tells you the cost of every single type of Transaction Fee within the Illuvium Eco-system (buying ILV, different types of staking, different types of reward claiming, everything...) https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit?usp=sharing

[white mirage]

So usually SLP staking is better when staking more $. If staking less (<~2ETH worth) single-sided staking is likely better due to trx fees.

[elder dawn]

I'd say at 2 ETH, the current rewards in the SLP more than cover your fees. the SLP does introduce more risk also. NFA, but i'd say a small stake is something <$1000 or even <$500. Starting in the SLP will cost you $200-300ish at "low" gas

[white mirage]

I staked 20 ILV in single-sided...now realizing not a great idea. Will do next batch in SLP. Thanks for all the info.

[ripe steppe]

good choice for the future imo

[quick socket]

Is it possible to ask the illuvium team to move staking to polygon or Eth L2?

With lower fees (especially polygon), daily compounding will be possible

[cyan rampart]

I think as soon as an ETH L2 is compatible with our staking, we will swap to it. Someone official made a comment about that recently, lemee see if I can find it.... https://discordapp.com/channels/760344898200666112/859866659011690537/886698427134672967

Not from the team, but Rah knows what he's talking about 😄

Mostly, there's no reason we wouldn't move to L2 when it's possible to do so - cheaper gas benefits everyone and increases engagement. Swapping chains is a WHOLE thing though, I wouldn't expect something like that.

[quick socket]

Thx

[tacit mesa]

@knotty dock please start here in this thread.. this is where i had to ask deraji..

[tacit mesa]

@knotty dock sorry.. here..

[brisk surge]

hello, ILV rewards are redeemable when you want? I have stak this morning. and I can not recover. stak locked 52weeks sorry for my english, I'm french

[ember ginkgo]

There is a #796561653922529300 channel if you think you will understand it better over there 😉

[sand cloud]

Anyone knows the percentage of tokens staked?

[ripe steppe]

u can redeem when u want yes, but as for how often you should redeem depends on the gas fees and the size of your stake (check the pinned messages on this chat for a frequency of claiming calculator to get an idea about how often is correct for you personally) https://cooper1903.shinyapps.io/stakingyield/ this one is super simple, theres also a more detailed and complex one by deraji in the pinned messages

[brisk surge]

I can't click on claim ILV

[ripe steppe]

if you have staked into ILV pool then the rewards stack up a bit slower and i think u do need to reach a minimum amount to claim (but that minimum amount isnt that big)

[brisk surge]

I'm at 1.30$

that's enough ?

[ripe steppe]

even at this tiny amount you can claim (but you should never claim anything this small because the transaction fees are bigger than what u r claiming) $1.30 is 100% not anywhere near claiming

[ripe steppe]

if you want DM me and I can help you with how often you should claim based on how much u have staked

[brisk surge]

I don't want to claim, I would like to know why I can't

[ripe steppe]

because you just staked and the amount is still way to small, give it a few hours, maybe a few days and the option will come up

[brisk surge]

Ok thanks 😉

[pure shadow]

😎 👍

[rare hazel]

ok. let me just confirm what i think i know (no pride here, feel free to correct me).

if i want to stake ILV. I go to sushi swap, buy ILV (say 5 ILV). then go to the staking website and stake it as either flex or locked. then i sit back and wait to collect my divvies.

if i want to stake sushi LP. I go to sushi swap, buy 5 ILV. then on the same website, i click on liquidity and add those 5 ILV + another crypto equivalent to those 5 ILV (i.e. .7 ETH) and I get sushi. Then I go to the staking website and stake the sushi as either flex or locked, and then wait for my divvies.

basically, to stake sushi, I need double the initial capital since I have to buy the ILV, and I still crypto currency equivalent to my ILV for the sushi roll.

and all these transactions require gas. how far off am I ?

btw... here's a screenshot from my coinbase.. some trades I did 3 years ago with ETH. 😂

[elder dawn]

your correct -though from a language standpoint, you receive a SLP (sushi liquidity pool) token, not Sushi (which is Sushi's governance token) You get the SLP from pooling on sushi, then bring that to Illuvium and stake it. You either need to double the amount you invest, or if you were set on investing $2500, only get $1250 in ILV and leave the rest as ETH. And yes, make sure you have ETH left over as there will be a lot of transactions with gas. Gas is reasonable today compared to lately, but it will likely still cost mid $200+ in fees before you're done.

[gloomy gazelle]

Remember that the rewards are not available when initially claimed as ILV. Rewards claimed as ILV are locked in staking for 52 weeks (one year). But they will also be earning you more rewards during that vesting period.

sILV is the other option for claiming rewards. sILV is claimed immediately and sent to your wallet completely unlocked. But it can’t be staked.

[rare hazel]

do u think i should wait till the evening or late into the night? i think gas was cheaper this morning than it is tonight. and it looks like eth is correcting itself compared to yesterday.

[gloomy gazelle]

!gas

[woven ibex]

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

[gloomy gazelle]

This historical data is very useful when determining WHEN to try to process transactions and at what gwei

[elder dawn]

i like gasnow.org for their chart - tough to say its been NFT action driving gas prices recently, but generally US time zone late night/early morning are the low prices. Weekly lows are generally Friday nights or Sunday mornings (US time). Primary business hours tend to be the worst.

[exotic vessel]

Why SLP has more risk? Due to impermanent loss?

[elder dawn]

yes, that and general smart contract risk. you're vulnerable to both price of ETH, ILV, and their divergence, which is the crux of IL. Not that I'm worried about ETH crashing, but if either token crashes, your value is potentially lost. With the ILV pool, you only care about ILV price and receive all the benefit (and risk) from the price movement.

[ripe steppe]

so I've just been helping someone out in the DM's (they are french so we've been doing it through google translate) ive told him theres nothing to worry about and i dont think there is, but just wanted to see what the community thinks could be a solution

his issue is, that he has stake ILV in the normal ILV pool, without a problem, this is like a day ago, he is also earning rewards without a problem, everything is perfect, however when he clicks on the illuvium.io site on the top right where it says his metamask address, there on the list of recent transactions his most recent transaction which is him staking does not have a green tick on it but it is loading (even though this transaction is completed and is in illuvium.io and is earning rewards fine and within metamask all transactions are completed)

@manic spindle ??

[cyan rampart]

I've had that happen before, it went away on its' own.

[manic spindle]

I have no idea about the reason, but for me even the last two transactions still have a loading circle. Maybe @hexed bough can say something about why this is the case.

[ripe steppe]

@brisk surge

[charred rampart]

Hey @manic spindle gotta question. Some of my slp tokens have hit their maturity date. If I just leave them in, what is the APY?

[manic spindle]

Unlocked tokens remain staked until withdrawn and they keep the token weight they had when deposited and locked.

[charred rampart]

Very good thanks

[iron kindle]

Ok, I wait for tomorrow then? I am worried but I trust the project and that it will be solved, NP if I have to wait.

[brisk surge]

I think i might be able to help you with this.

When you claim SLP pool rewards you will be asked to confirm 2 transactions.
The first one is to claim rewards from the ILV pool ( ILV rewards must be empty for your SLP rewards to be added to your ILV stake)
The second is for claiming the SLP pool rewards. You need to approve both these transactions and they need to both complete within a short time of each other. People usually recommend just using fast gas to make sure it goes through but others just set both transactions to the same gas price.

It sounds like you only approved the first transaction to claim your ILV pool but not the second one.

[frozen sable]

I want to sell all my Bitcoin into Illuvium and add to Stake for 12 months. It seems like a no brainer yet im still so hesitant for some reason.. I already own ILV but obviously want as much as possible. Let me do this, Can anyone give me one good reason why I would hold Bitcoin over ILV? I know I know not looking for financial advice just curious what y’all think personally

[brisk surge]

Well the obvious risk is that if BTC outperforms ILV you would have been better off keeping the BTC. I imagine most people here would say ILV will probably go up more but nobody can know for sure.
The other risk is with the 12 month lock. ILV could go up to $10,000 6 months from now but be back down at $300 by the time your tokens unlock. Locking for such a long period means you have very few options for liquidity for profit taking or stop losses.

[dark sundial]

Probably asked before, but I see this: ILV rewards are subject to a 12 month vesting period. While they are vesting they compound your rewards. Yet I can do a claim on the rewards, and supposedly confirm the txs. I expect it won't work right?

[cunning perch]

the moment you claim it, it'll start vesting (locked) for one year, yet compound to your stake with a weight of 2X

[dark sundial]

I claimed the LP pool rewards, which how I understand is where the 12 month vesting starts and it's put in the ILV pool compounding.

[cunning perch]

yep. That's right. All rewards go to the ILV pool if claimed in form of ILV

[dark sundial]

then it stays there 12 months compounding, However next to the ILV pool in the rewards section I see the amount I've earned so far and I can claim that. Also when I try claiming the LP pool rewards, it's those rewards + the ILV pool rewards that will be claimed.

[hexed bough]

Hey @ripe steppe, this is nothing to worry about. It's a UI bug, which should be fixed in an upcoming release.

[frozen sable]

So if I stake for 1yr after that staking period is done does the vesting period then start for another 12 months? Sorry if I’m completely off here

[dark sundial]

I just tried it. Think I got it now. So if you claim LP rewards, that's vested for one year and you earn rewards on that. Those rewards are in the ILV pool, if you withdraw those, then the clock ticks for those rewards for 1 year as well.

[brisk surge]

Unclaimed rewards have not started their vesting period yet. You are claiming rewards which starts 12 month vesting for those rewards. Everything has a separate vesting timer. You can see how long until unlock on the Vesting tab of the staking section of the illuvium website.

[dark sundial]

on everything that's vested you keep earning rewards, however those rewards are vested for 1 year again on the moment you claim them

also claiming LP rewards, enforeces you to claim your pending ILV pool rewards, causing two txs (and thus more expensive and might be more interesting to wait before doing that, depending ofc on the amount you've earned)

[frozen sable]

So every time I claim rewards from staking pool then the rewards I claimed are now subject to 12 month vesting? And every time I do it?

[brisk surge]

Yes

[frozen sable]

Will there be a way to swap SILV for ILV in the future?

[brisk surge]

No, sILV is burned when it goes to the dao as payment. There are secondary markets for sILV/ETH pairs on Sushi and Uniswap but the price is about half of what ILV is right now.

[frozen sable]

Got it, but the SILV will be able to be used in game to buy nfts that we can then sell for eth?

Prob wishful thinking but just trying to think it all through before I really go in

[brisk surge]

You wont be able to use sILV for transactions with other players which would be the Illuvial NFTs, but you could buy items sold directly by the DAO and use them in game or potentially resell those items on the ingame markets for ETH.

The DAO wants to encourage people to claim sILV so I think they will make sure it has plenty of utility.

[brisk surge]

Its a lot to consider between the tokenomics and the staking rewards. It took me about a week before I felt like I had a good understanding of it and im still learning new stuff.

[frozen sable]

Okay for sure, yeah guess that’s what I was trying to figure out is the utility of SILV vs just keeping it ILV. Because of how scarce it is my gut tells me to keep it ILV. But wait is the only way SILV is created is if ILV is burned?

[cunning perch]

When the tokens are unlocked, you can either withdraw and hodl/sell or keep them in the pool to receive YF rewards (until it finishes) and RevDis. Sorry for my late reply, I'm busy in DMs 😄

[frozen sable]

To be honest I’ve just been holding an ILV bag telling myself I will stake it tomorrow every day for weeks lol. Becuse can’t decide how long stake. Or if I do Sushi etc etc. and biggest reason was wanted to gather more before locking in stake. I know that’s all ridiculous and I have lost out on all sorts of rewards lol

[brisk surge]

I ended up doing a shorter stake on my SLP than my ILV pool because its my first time as a liquidity provider and all the unknowns with impermanent loss made me nervous.

[frozen sable]

And how has the SLP staking gone for you?

[brisk surge]

Rewards have vastly outweighed IL so far. I also like that the rewards are going into ILV pool so if i decide to take profits at some point on the SLP I still have a ton of tokens with a 2 token weight for revdis and compounding in the base pool.

im only getting about 350% apy because i didnt do a full lockup too.

[frozen sable]

So do you wish you put it all in the SLP pool personally? Cause I have Eth i was about to turn into ILV to stake in regular pool. But i really wanted to do SLP pool and didnt cause I couldnt find out like how often impermanant loss actually happens. Ive tried asking if anyone even knows anyone with illuvium it has happened to just to get an idea but cant get response lol How long have you been staking in the SLP without pulling out?

[brisk surge]

I dont regret splitting it up. About 80% went into the SLP pool though because I already had some ETH that I could use to pair to my ILV. I have only been in for like 2 weeks. My logic was that in case there was crazy price volatility right after I got SLP the bit of ILV I had would offset some of the IL.
I am trying to get some more money together to put a year long stake on SLP though so I can get more of those sweet rewards.
Mostly depends on whether you have any need or desire to take profits out within the next year or two. If youre thinking about a 3+ year investment I think max lockup duration is best.

[frozen sable]

Hell yeah, I would prefer to do it long term and lock up the max length! So you would actually be comfortable staking in the SLP pool for the max lock up period? Like worst case scenario it will just be converted into just one of the coins either ILV or ETH if price were to diverge right? And when stake is done in a year you get your same amount of eth back that you put in?

[cunning perch]

Not necessarily, depends on the amount of IL you've undergone.

[frozen sable]

Sorry what do you mean by undergone?

[cunning perch]

Impermanent Loss. You might end up wth more ETH, or more ILV or less of both.

[frozen sable]

Right right, Wait but I could end up with less eth & ILV than i put in? so instead of making any rewards its an actually loss. What has to happen in order for you to actually take a loss of both rather than it just going into one coin

[brisk surge]

Well i am comfortable doing the max lockup with future funds because I already have some that I know are gonna unlock in a couple months. I also know im planning on taking some profits from my crypto either this year or next year so a 12 month lockup for my whole investment doesnt really align with my needs.
With regard to IL your entire investment is at risk. If you really want to understand it be prepared to spend several hours doing research, its REALLY complicated.

[frozen sable]

For sure I will do more research, I did actually try to do a decent amount of research on impermanent loss etc, watched videos, read info online but eventually gave up and decided i was going to use regular pool lol, Was good to kind of get an idea from an actual person though. I ask a lot of questions when getting into something to help get perspective so appreciate your input!

[cunning perch]

you are getting a high APY and a lot of rewards because you will undergo IL. So, if the price of both tokens drop a lot you might end up with fewer tokens. If one goes up, you will lsoe one to the other and so on. To have the EXACT amount after one year is usually not possible, though I could be wrong and you may have both. But naturally, we believe ILV will outpace ETH, so, IL will most def happen

[frozen sable]

Awesome thank you, that helped me big time

[cunning perch]

No worries my friend 🙂

[frozen sable]

Selling house now for SLP Pool....

[cunning perch]

https://tenor.com/view/this-is-the-way-mandalorian-star-wars-may-may-the-fourth-gif-21430119

homeless for the glory....

[frozen sable]

JK JK

[cunning perch]

@candid comet If you stake in Flexible pool, you will get fewer rewards as your tokens are unlocked. If you plan to lock them and get more rewards, you have to stake in core pools. you can lock them however long you want (max 1 year). Be advised that AFTER claiming your rewards in form of ILV, it will be locked for one year. It will compound to your stake with a weight of 2X. If you claim sILV, it'll nbe released automatically and you can use it in game. Officially, sILV will have no monetary value outside the game.

[candid comet]

Alright thanks you so much for clarifying it. Do we know what kinds of rewards can we get? Aside from sILV

[cunning perch]

ILV (locked for one year after claiming) and sILV (released immediately) 🙂

[candid comet]

Ok got it

[dusk fog]

I accidentally claimed my rewards as sILV when I was hungover and felt even worse, now I swapped it for ILV despite the bad ratio and just staked more SLP and I think my mental just stabilized after running it through a calculator 😅

[cunning perch]

one hell of a claim. Nicely done haha 😄

[cunning perch]

they say don't drink while driving. They should change it to "don't drink while claiming lol"

[dusk fog]

Yeah, atleast I timed it with decent gas and "low" ETH and ILV price so I guess it could be worse

[marsh oyster]

hello how many cost the price for claim in simple pool ILV

[cunning perch]

Gas s a bit high now. I guess at least (roughly) $100? maybe.

[dusk fog]

Imagine if the gas would be cheap on any other day than sundays, would have saved me the trouble of misclicking

[marsh oyster]

okkkkk i claim only in 6 months x)

[cunning perch]

well. lessons hard learned 😄

[dusk fog]

Definitely 😄

[cunning perch]

lot's of ppl claim when gas is 1% of their unclaimed rewards value. But you have to do it at your own discretion and whenever you feel "It's time" 🙂

[gloomy gazelle]

!claim @brisk surge

[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.

[hot lynx]

And then wait another 12 months for them to unlock 😂 see you in 18 months 👍🏻

[cunning perch]

if you plan to leave them there, like forever, time is irrelevant 🙂

[hot lynx]

The rewards that are not unlocked . Don't get % so time is relevant imo

[cunning perch]

I meant many will claim and stake and leave them there. Rev is what many might want to use as monthly passive income. to get that you need to have staked your ILV

[hot lynx]

I claim and stake so the claim gets APY % as early as possible. 6 months APY% is great to get. Understand RevDis is ok in both situations

[earnest shuttle]

i staked some ilv, what is the next step to learn about the illuvium, i have also read past 4-5 medium post. So, should i buy the opensea NFT like emotes and moz4art , or i will be provided them in game.

[cunning perch]

As long as you claim with gas justified, you're gonna be fine 🙂

[cunning perch]

Buying NFT is not a must and having/not having them will not give u an advantage in the game as everyone starts the same. Now that you have staked, make sure you claim your rewards properly (if gas is justifiable and you have enough to claim).

[earnest shuttle]

i went for locked staking for 7 weeks, i can't claim for 7 weeks right?

[cunning perch]

you can claim every day/every hour even. As long as you have enough rewards claiming of which justifies paying the gas, it would be wise ans the rewards compound with a weight of 2X and will be locked for a year (if claimed in ILV). If claimed in sILV, it'll be released to your wallet after claiming

[unkempt dust]

Let me see if I get it righ..I stake some ILV, I will get rewards in ILV that are locked for 12 months. This locked ILV rewards generate aswell a compound rewards in sILV, that I can't use untill the game is lauched.
Coorect me if I'm wrong 🙂

[grizzled hawk]

👍

[grizzled hawk]

I claim every couple of weeks to make it worth the gas fees

[cunning perch]

you got some parts right. You stake and get YF rewards. Everytime you wanna claim it'll ask you which one you want: ILV or sILV. If you choose ILV, it'll get locked for a year while compounding with a weight of 2X. if you choose sILV, it'll be released to your wallet to be used in game

[warped anvil]

It will get rewarded in either sILV or ILV, which ever you choose to claim

[cunning perch]

It will only compound if chosen in form of ILV. No compounding in sILV.

[earnest shuttle]

but i went for 7 weeks locked staking, i think it is locked. Or the meaning of locked is lp is locked, but rewards can be calimed?

[warped anvil]

yeah I messed up the phrasing 😆

[cunning perch]

Rewards will be locked for one year AFTER claiming (if chosen in form of ILV). Your stake will be unlocked after 7 weeks and you can either withdraw or let it stay there.

[unkempt dust]

and sILV would be the game currency?

[cunning perch]

in-game (excluding the Market Place and Leviathan Arena) and you can buy land with it, should you wish.

[fast stump]

Is 15 ILV a decent amount to stake?

[cunning perch]

Decent is relative to one's buying power. For one it's only 1, for one it's thousands. 🙂

[wicked herald]

I'm staking 6

[inland harness]

I have only 0,8...😅😭,i will try reach 3 see more when i will win money*(irl job lol)

[fast stump]

If I lock tokens in a 12 month stake now. In a couple months can I lock more into a 12 month stake or can you only have 1 amount staked at a time?

[cunning perch]

you can stake as many times as you like and even choose any locking period as you like.

[fast stump]

Thanks

[inland harness]

But warning the APY will grown if u let more time

[rare hazel]

i decided to buy 1 ILV just to try it out. i put 50 gas. hope it'll go through... eventually lol.

[inland harness]

I think its +-76% APY if u let 1 years

[cunning perch]

50 is pretty low for now. It's risky. I hope it goes through as well. (69 is the lowest if you check the bot on the right atm)

[cunning perch]

it'll keep on dropping. Won't stay there forever

[wheat grotto]

https://tenor.com/view/teach-you-yoda-star-wars-mentor-teach-you-i-will-gif-13942585

Yoda in the making

[vestal skiff]

SLP liquidity stakers. What’s the best gas fee you’ve seen for claiming ILV? I’m getting $88 has to be a better

[frozen sable]

Just to be absolutely clear with a yes or no answer. Hypothetically if I was to stake for 1 year and not claim ANY rewards until the very end of that year, Then claimed in ILV, the vesting period would be another 12 months from that point making it a total of 2yrs locked if gone this specific route?

[frozen sable]

at this point thats pretty standard, I use eth daily for all sorts of stuff and its been steady expensive for gas lately. Sometimes late at night you can get cheaper gas

[unique bear]

That's correct. Every batch of claims has to be locked for 12 months and will each unlock separately after 12 months. There's no information available on whether you can 'batch widthraw' all of your unlocked rewards either, so you may have to assume that you pay gas for each and every claim again once you withdraw for $$ at some point in the future. But many are hoping that staking V2 addresses this, and the Eth gas prices are very small at that point in time

[frozen sable]

Okay for sure that makes sense, hopefully V2 can help address that like you said.

[brisk surge]

Evening folks. Let’s say I want to add to my SLP stake. Am I right in thinking it’ll force me to claim rewards before hand? And I’ll have to pay the gas for this as well as the new stake?

[wind walrus]

Correct, it will force you but if you do it all at once there will only be two TX

[brisk surge]

Thanks. And after that, rewards from my two stakes can be claimed at once?

[wind walrus]

Have you claimed any rewards yet?

[brisk surge]

Nope

[wind walrus]

Ok, that will make it a little cheaper. Once you claim ILV rewards the first time you will need to claim both ILV and SLP rewards at the same time

[brisk surge]

Oh good, how come?

[wind walrus]

Because you won't need to claim ILV as well as SLP this time. Once you claim you will need to claim both from then on. Also, don't manually claim before you add more SLP.

[brisk surge]

Okay thanks very much, I think that makes sense

[vestal skiff]

Ok cheers. Think I read $60 a while ago.

[wind walrus]

Gas prices are reasonable atm

[rare hazel]

Gas is cheap y'all. Buy buy buy

!gas

[woven ibex]

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

[knotty river]

mehigh

:fuelpump: Current gas prices

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

50 Gwei

Average :person_walking: | **3 minutes**

50 Gwei

Fast :zap: | **15 seconds**

51 Gwei

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

[brisk surge]

Yeah was just thinking that. Really debating whether to stake more or not

[wind walrus]

Just don't stake the house

[rare hazel]

gd there are a lot of transactions before i can stake this sushi lp.

[brisk surge]

Hahaha I want to stake so I can afford a house!

[wind walrus]

Life goals

[rare hazel]

where do i see my sushi lp balance? i bought 1 ilv. then i went to liquidity and put it into that. now i don't see the ilv in my metamask, but i don't see the sushi lp either. how do i add the sushi lp token to my metamask ?

or is it this?i guess my 1 ilv became .999 ilv.

[wind walrus]

Use the address pinned in this channel

[wind walrus]

The .369 should be you SLP

[rare hazel]

i staked it all. gas up the ass.

gas is going back up! i knew i'd get caught doing these 40 gas transactions lol.

[wind walrus]

These days 40 is great

[rare hazel]

i really with the devs would've considered using a different crypto than eth for this game. other games are adopting other coins because these gas fees are outrageous.

[mint cave]

game will be on imx, not mainnet

!imx

[woven ibex]

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

[rare hazel]

now i clicks take? holy crap how many times do i have to go through these buttons and transactions. i think i've already had like 5 or 6 transactions to get to this point

oh wait, no. i think i'm already done. i see it here.

[brisk surge]

you should have only had 3 maybe 4 I think

[rare hazel]

i see this

[wind walrus]

Looks like you already claimed rewards by accident

[rare hazel]

no i didn't claim.

[wind walrus]

You are good

[rare hazel]

i put in 1 ilv. which looks like .37 slp. so it looks like almost a 1 to 3 ratio of ilv to slp.

[brisk surge]

1 SLP was about $2500 last time i checked. So about 2.6 ILV and .38 ETH per SLP

[rare hazel]

i spent about 220 gas for these 5 transactions.

[brisk surge]

yeah gas sucks at the moment

[exotic igloo]

45 isnt bad

Sad to say

[brisk surge]

haha yeah

[rare hazel]

i gotta learn how to stake other cryptos that have these types of returns, but with less fees.

[brisk surge]

goodluck lemme know when you find some

[exotic igloo]

Be very carefull about high apy

They dont last

ILV is a gem in the turd

[rare hazel]

AXS should become stakeable soon, and HERO also. i think most NFT games will have this feature.

[brisk surge]

yeah most cryptos that ive seen with an apy as high as this usually last around 3 months and arent for the long term

[exotic igloo]

Or rugs

Or unlimited supply

[brisk surge]

yeah that too

So why is the APY so high for illuvium? Like why are we being rewarded so generously at the minute? I assume stakers benefit illuvium a lot too?

[exotic igloo]

Because 30% of the supply goes to staking rewards alone

Thats a lot

It will drop more and more as time pass tho

[brisk surge]

Oh I see

[brisk surge]

yeah thats an insane amount

[lilac coyote]

claimed my pools at <40.. felt like a bargain

[brisk surge]

wow sILV or ILV

[lilac coyote]

ILV SLP and core pool, less than 40 gwei gas

[brisk surge]

yo what is that gwei have never seen it that low in so long

[exotic igloo]

Sad that we call 40.. low

[brisk surge]

yeah wishing upon a star we could be calling 40 high lol

[lilac coyote]

yeah, waiting 2 weeks between claims basically and just watching for a low gwei moment to claim

[brisk surge]

thats my plan but maybe every month or two as I dont have too much staked, wishing I was a couple years older and not in college so I have more money to put in lol

[hollow kelp]

Out of curiosity (if you dont mind me asking) if you didnt stake much didnt gas kill you?

[brisk surge]

um I spent a total of 140 on gas so yeah it was rough but worth it

[exotic igloo]

Same here

[hollow kelp]

yea was thinking of chucking a cheeky 1k to test it out but gas seems outrageous. Would lose 10-15% in frees

[brisk surge]

right now its super good not gonna lie

[lilac coyote]

You are way ahead of most young adults if you are tapped in to this as well just investing in general. Big power in compounding in your 20s. most people only start investing in their 30s

[brisk surge]

thats my goal, 19 right now and trying to find the best investment that will bring me freedom when im 30 and stumbled across this gem, decided to go all in living at my bare minimum right now so I dont have to when im older, and this game just looks so fun and I love video games

[lilac coyote]

nice. well key is not to invest money at your age you may need for living expenses in the next couple yrs. a job on the side can give you some security in that regard. But, it is the best time of life to make risky investment bets

[final steppe]

https://tenor.com/view/axanar-alecpeters-axamonitor-attacked-bully-gif-18140751

[brisk surge]

I have two jobs and fix phones on the side, i didnt invest any money that I cant afford to lose

[lilac coyote]

nice you are killing it. keep it up.

[brisk surge]

thanks my guy

its awesome that one of my jobs is the dest manager at my college so I can get all my homework done and am still able to talk in here and learn stuff while I am working. as this job requires almost no work, just being here

[lilac coyote]

I've been playing video games longer than you have been on planet earth. I approve of your investment into ILV.

[brisk surge]

haha its good to hear, ive played tons of video games and have looked into the blockchain quite a bit but Ive never seen anything quite like this its crazy

[hollow kelp]

Well done man 🙂 Started dipping my toes into Stocks and crypto around your age and sitting at 25 now. Still feel like I have alot to learn especially with DEFI and LPs hahaha

[brisk surge]

haha yeah its for sure a huge space with too much information for my brain to understand lol

[hollow kelp]

100% only yesterday when I was calculating ROI for each core pool did the whole premise of ILV/ETH LPs make sense xD

[brisk surge]

hey gotta start somewhere,

[onyx topaz]

is restaking still 2 transactions? i only really care about compounding my SLP

[cyan wagon]

how much cost in usd?

[lilac coyote]

it was around $55+$95

[cyan wagon]

$150?

[lilac coyote]

yeah, 55 to clear the solo rewards, then 95 for slp

[cyan wagon]

👍

[gleaming brook]

Hi all, if I want to maximize the ILV I have by staking in the Sushi LP, do you think the ILV earned from Staking will more than offset the impermanent loss? Thank you

[brisk surge]

that is the hope and as its been going so far i think the answer is yes

[brisk surge]

but not financial advice in the end its you who much look at all the data and make your own decision

[gleaming brook]

I have stakes in both Core Pools and planning to add more now. I can see SLP reward is growing at a much faster rate😅 although I knew the risk is much higher. Decision time…

If you stake for 1.5x, the rewards claimed will be restake at 1.5x or 2x? Thank you

[lilac coyote]

the main issue is the higher gas fees to get into the SLP and claim rewards. If you have enough $ to invest it may be 'worth it'

[lilac coyote]

the claim is always 2x because it is a 12 month lock on claimed rewards

[gleaming brook]

Thank you for your comment. I am staring at the Gas fees daily 😅

[pure shadow]

if the budget is around 1500 usdt is it worth stake in SLP ?

[lilac coyote]

can't give you explicit financial advice (can't tell you what to do because I could be wrong either way and cost you money). My personal decision would not be to do SLP with $1500

[random crater]

After the 12 months can everything be claimed in one go? On the whitepaper there was mentioned of like a graduated release over 12 months and I wasn't sure what that meant

[fringe cloud]

I'm trying to stake some ILV into the core pool, and have enough ETH to pay the gas fee, but when it asks me to confirm the transaction, it says I don't have enough funds and shows I have 0 ETH?

[random crater]

I've staked around 4 SLP and was wondering if I stake more, will rewards be added to my current pool of rewards or will it be two separate reward pools?

[lilac coyote]

yes, you can remove your liquidity after 12 months. The claimed rewards though each have a 12 month lock up. So if i claim 1 ILV today, I will be able to withdraw 1 ILV in 12 months.

[random crater]

Great got it, thanks for clarifying

And with the locked rewards, are they getting SLP or ILV percentages?

[lilac coyote]

If you add more to your SLP the claimable rewards accrue in the same SLP pool... The claimed reward get solo pool rewards (including revenue distribution eventually).

[wind walrus]

SLP rewards will add together. ILV rewards will add to ILV rewards. They will all add together but when you claim they are two different reward payouts. Hope that makes sense

[keen ridge]

anyone know the % of ILV being staked compared to the total amount available today?

[random crater]

Yep what I'm trying to figure out during the vesting period, are my pay outs getting SLP (540%) or ILV (72%) interest

[hollow kelp]

So, are rewards from ILV/ETH LP 1:1? Aka if i get 0.5 SLP the 540% applies to the 0.5?

[wind walrus]

All claimed rewards in ILV will be staked for 12 months at ILV cores APY.

[wind walrus]

Yes. SLP Apy applies to total amount staked

[hollow kelp]

So, given that SLP is 500% or so more expensive than ILV, its smarter to stake in core? o.o

[wanton cloak]

how much do u guys reeccomend to start staking

[lilac solstice]

If I'm already staked but want to add more to stake, do I need to claim the original stake and then restake. Which is the best route to go

[wind walrus]

Depends on amount you have to stake and other variables like time frame and risk tolerance

[hollow kelp]

How so? the variable on core would still be better given that SLP = $2500, ILV currently sitting at 470

[wind walrus]

Which pool are you looking at?

[wanton cloak]

im not sure im new and i have abt 2500 usd

[wind walrus]

I'm very confused. SLP atm pays 500% APY. ILV core pays 72%. Why do you think 72% is better than 500%

[wind walrus]

Is your goal short term gain or long term ILV accumulation?

[pure shadow]

thanks for the NFA 😆

[wanton cloak]

long term like 1 year plus i wanna invest and not look at it. As if i buy a new pokemon trainer box and box it up in my attic

[lilac solstice]

One has impermanent loss that's why, it's riskier

[hollow kelp]

Thats what im trying to understand. Say I invest $2500 in the ILV/ETH LP. That will mean i put $1250 into each token. I will be given 1 SLP (given current price of SLP @ 2500). 500% APY means I get 5 ILV/year from that stake.

Comparatively, I invest $2500 into ILV and get 5.5 tokens roughly. 80% of that means I get 4.4 ILV/year. Given impermanent loss, the ILV core would be better no?

[lilac coyote]

I want to stress though, that it is a personal decision. I could see one strategy work where you claim selectively when gas is cheap every 2-3 months, or around the time of the first land sale as your first claim

[lilac solstice]

If I'm already staked in the 1yr locked, but want to add more to stake, do I need to claim the original stake and then restake. Which is the best route to go

[lilac coyote]

yes it's a full claim when u add more to SLP

[wanton cloak]

^^

[wind walrus]

2500x500% = 12500. 2500x72% = 1800. Neither of these is correct because the apy is variable but you get the picture

[hollow kelp]

Arent the ILV/ETH payouts paid in ILV? Not slp

[wind walrus]

Everything is paid in ILV

[hollow kelp]

So 2500x500% isnt correct. It would be the equivalent of 470x500% (current ILV price) given SLP is 2.5k

[wind walrus]

The 500% is for your entire investment

[granite halo]

APY in SLP pool counts both eth and ILV.

Meaning 2500$ worth of SLP = 5x2500

However RevDis only accumulates for the ILV portion of your stake.

[mystic thorn]

ahh sad day

[granite halo]

But wait. You will accumulate more ILV tokens in the SLP pool than you originally staked in a matter of months, so you still end up with more ILV.

[lilac solstice]

So if eth pumps you lose ilv token weight earning less?

[wind walrus]

Yes, in SLP Pool

[mystic thorn]

i would say an unsignificant amount compared to what you make on the APY NFA

[lilac solstice]

If I'm already staked in the 1yr locked pool, but want to add more to stake, do I need to claim the original stake and then restake. Which is the best route to go

[mystic thorn]

!claim
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.

[wind walrus]

Don't manually claim. It will force you to claim when you add more

[mystic thorn]

i would say the best option is to only claim when its more than the gas

[mighty bolt]

Was this a glitch in the Coinbase matrix ?! 😅

[mystic thorn]

it just said lets go to the moon

[lilac solstice]

Ok and does the 1yr lock reset to the new stake date, but rewards will be different days?

[wind walrus]

Nope. Totally separate

[mighty bolt]

Go to to the moon then sike! Lol

[wind walrus]

Just showing us the future

[lilac solstice]

It'll easy 10x from here

[mighty bolt]

Yeah I think that’s to low lol

[wind walrus]

Depends how far in the future. That might be one year

[lilac solstice]

That's what it'll be at land sale time 🌙

[wind walrus]

The 500% includes the whole 2500. Not just the ILV portion

[wind walrus]

That would be amazing since I have 10 silv waiting for land sale. I'd de happy with 1k

[lilac solstice]

Wow that's good for me I'm holding only ilv since when you use silv ilv gets burner hehe

[pure shadow]

that's interesting 🤔

[lilac solstice]

Definitely, could easily do 4 transactions a year, and it'll be passive just compounding

[fast trench]

If I don't mind waiting 24 months what would the cons be to just holding the yield farming rewards for the entire 12 months and then unlocking all of it at the end? Do people withdraw every couple weeks because the apy will be a lot lower in 12 months so they are taking advantage of the higher apy now for compounding? Just trying to weigh the pros and cons of paying frequent gas fees versus just leaving it all in there and claiming one time at the end of the 12 month lock up.

[hollow kelp]

I know. Thats why its valued at 2500 (1250 each). Slp is worth 2500 so you get 1 slp from the LP. 500% means 5ILV/year

[elder dawn]

Claiming is all about the value of compounding interest versus gas fees. Later, it will be revdis and voting. Unclaimed rewards aren't revdis eligible

[brisk surge]

the reason that people claim earlier is because when they claim the ILV it go back into staking and you get compounding interest

[fast trench]

Ok, thanks. Sorry I'm new. What is revdis?

[elder dawn]

Revenue distribution. 100% of all revenue generated by the DAO is distributed to eligible staked/locked tokens as unlocked ILV.

[silver nebula]

Just wondering, has anyone got Illuvium integrated with a tax API like https://koinly.io/?via=D8E8D139
Or is there a way to export transactions onto a CSV?

[sand cloud]

How much eth should I leave in the wallet for gas fees? I have 0,37 eth I'm gonna stake in ILV

[elder dawn]

Check out the most recent pin. @ripe steppe put together a fee calculator. Depends on where you're at in the process and the gas rate

[potent wave]

enough

[elder dawn]

To be safe, I'd leave $200. You'll also need eth if you ever want to claim

[oblique raft]

Gas fee is insane

[brisk surge]

question relating to after my 12months locked SLP. If i did not remove my SLP and continued to stake i understand that my weight of 2 would continue. What im unsure of is if This SLP would then begin to receive whatever the APY is as the time?

[wheat venture]

What’s the expectations for rev dis vs the staking rewards per ilv ? Just a big ? I guess. But I’m sure people have made guesses. Is the bull case that rev dis will wind up being more profitable or are people overestimating how much they will get once it’s distributed across all ilv holders

[mint cave]

your stake is always receiving the current APY, it is dynamic

[brisk surge]

got it, thanks Jeff

[elder dawn]

Revdis and staking rewards move in opposite directions. Staking rewards wind down over 3 years. At some point, revdis should be the dominant factor as project launches and gains momentum. No idea how big revdis will be yet. Depends on project success.

[mint cave]

this might be close to what you're looking for:

https://twitter.com/jimbobkos/status/1437196169780727809

Jimbobkos ⚔️ #RAISETHECAPS⚡️ᚱ (@jimbobkos)

Modelling (indicative only) @illuviumio DEX revenue only using @AxieInfinity recent trading volume (but also applying a sensitivity factor to ensure conservative outputs) results in the below APYs and subsequent ‘buy pressure’ impact on the ILV/ETH pools

Twitter · Sep 12, 2021, 11:27 PM

[wheat venture]

Thanks

[oblique raft]

Nice

[ripe steppe]

Deep Dive Video on Staking! Answers many common Questions asked in #🥩〕staking and brings together all in one place relevant information concerning #🥩〕staking
https://youtu.be/7T2WzeXWC4k

[hollow kelp]

Thanks for the vid vet, currently listening to it 🙂 Could you potentially confirm something for me: The APY in the ILV/ETH SLP is calculated on the SLP gained from providing liquidity. Given the 2.5k value of the SLP, does this not mean that the percentages between each core pool is comparable?

Eg: Say I invest $2500 in the ILV/ETH LP. That will mean i put $1250 into each token. I will be given 1 SLP (given current price of SLP @ 2500). 500% APY means I get 5 ILV/year from that stake.

Comparatively, I invest $2500 into ILV and get 5.5 tokens roughly. 80% of that means I get 4.4 ILV/year. Given impermanent loss, the ILV core would be better no?

[ripe steppe]

if u have $2500 staked in slp, and the APY is 500%, if the APY stayed exactly 500% for a whole year, and the $ price of ILV and SLP do not change for the whole time, over the course of that year you would earn precisely $12,500 purely in ILV rewards, if you staked the same $value in ILV pool and the APY and everything remained the same for a year then at the end of the year you would have earned $2000 in ILV rewards (of course all the values do move around and the APY is decreasing over time)

[still kindle]

Guys gas is in the 30s !!! Great time to transact

@ripe steppe, thanks for all your great content, I love the detail and have picked up lots of little nuggets from your videos...

[ripe steppe]

glad to be of service to the community bro 😊

[river light]

lp pool is based off slp value. 500% of the slp. 25k earned with the above assumption. not 12.5k

[ripe steppe]

he said 'say I invest $2500 in ILV/ETH LP (putting 1250 in each token)

[river light]

nvm. my bad. i misread.=)

5x $2500 yeah. 25ilv/year

[ripe steppe]

bro, dont get me wrong, I wish it was 25k 😆 that would be 🚀

[river light]

well. remember this is assuming you claimed once per year. you do get some compound too. so would be more I guess. heh

[ripe steppe]

but also APY is decreasing over time in both pools also

[river light]

yep. unless ilv price pump vs eth, then the apr on the eth/ilv pool increase while the apr on the ilv-solo remain stagnant

[lilac solstice]

And coin price flucuates

[river light]

It is good that some people got scared into the solo pool though. It is part of the game. no risk no gain. 🙂

[lilac solstice]

Do you gain more tkn if the price tanks

[fresh basalt]

would have been great if we had the option to stake the ILV rewards into the SLP pool as well granted we have ETH haha

[lilac solstice]

Gas should be alot cheaper since smart contact are opening on other chains, we can stock up and utilise more trades in staking

[hollow kelp]

So thats what I was initially thinking, but the amount you get for providing liquidity (in SLP) is not 1:1 on SLP:ILV pricing. Since rewards are paid out in ILV, then 1x5 = 5ILV would be equivalent to 2.5k or whatever (at current ilv prices)

Anyways, curious to learn so gonna test it tomorrowz

[junior shuttle]

The apy is on the usd. So 500% on the 2500 is 12500

[pulsar heart]

If you claim SILV does it compound?

[hot lynx]

Hi Jeff do you have that as an excel file ?

[clear cape]

No

[normal blaze]

No, it comes out and able to use

[pulsar heart]

Alright my plan is to claim ILV then and buy SILV with other money. That'll be fine to add money in later on to buy land I guess?

I mean we won't have to have staking rewards for land?

[normal blaze]

That’s what I’m doing, always claim ilv stake it for ever 🙂

[pulsar heart]

Cool

[normal blaze]

U can buy land with sILV or eth

[quasi lily]

wait so if u claim it as sILV then you can use it to buy land and stuff but doesnt compound. But if you claim as ILV then it compounds and you keep making but cant do anything with the ilv right?

[normal blaze]

Same with in game spending

[pulsar heart]

But in a year you'll be on the moon

[normal blaze]

Correct , but ilv is govern token, and will claim revs also

[ripe steppe]

honestly this is what im going, imo if anyone can afford to add additional funds to buying land and for in game then buying sILV and keeping all rewards in ILV and compounding i think is the best way (obvi if u have invested everything ur willing to put into illuvium then claiming some sILV does make sense, but only if you have 0 additional cash ur willing to put in) (imo)

[quasi lily]

idk what you mean by "will claim revs also"

[manic spindle]

!revdis It means that only staked ILV will get 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.

[quasi lily]

ohhhhhhhh that i see

[normal blaze]

Lol what he said 👆

[quasi lily]

and so with vetemor's calculator i see that claiming SLP costs ~80$, does that come out of the rewards or??

[lilac solstice]

Think it's eth, don't quote me though

[ripe steppe]

this comes from you metamask wallet and is in ETH (does not eat into ur rewards, they are intact)

[ripe steppe]

@exotic igloo

[hollow kelp]

That doesnt make sense given the dynamic value of the tokens...

[quasi lily]

is there a way to know the price of an SLP?

[ripe steppe]

ILV rewards from yield distribution on SLP are earned based on the entire $ value of your SLP (not just the ILV amount) (where as for revdis SLP only earns revdis based on the amount of ILV within the SLP staked)

[oblique raft]

Staking gas fee is too high lol

[hollow kelp]

if thats the case, then surely there must be a ratio between ILV rewards and SLP staked since the SLP $ value would in the LP would be independent to the APY rewards