🥩〕staking

[floral widget]

I only hope that the sale is not on mainnet , don’t want to lose a few thousand in gas if transaction fail

[ripe steppe]

there is a ratio, 80% of all yield distribution goes to SLP pool, 20% goes to ILV pool (when flash pools are live they also take 2% of the total 100%) (this is only true for yield distribution, revdis is different)

[ripe steppe]

i believe it will be, to confirm maybe ask on #🎮〕illuvium-zero

[hollow kelp]

No, thats total yield reward distribution. Im talking about X SLP = Y ILV/year calculation independent of dollar.

What would make sense is, if at stage or SLP staking, it calculates how much ILV that SLP could buy 1:1 and then stakes on that value. That would remove the dynamical aspect.

[ripe steppe]

since 80% of all yield distribution goes to SLP pool, when that 80% is then distributed amongst the SLP pool, whether you think in SLP amount or $ value its the same either way since its only distributed amongst SLP token (token weight also applies)

[hollow kelp]

riiiiiight ok that makes sense. Yield / total stake pool x Your % hold of what is in the total staking pool

[floral widget]

I am actually curious how much my 2.5 SLP is worth now

[ripe steppe]

1 SLP is worth $2547 right now (this fluctuates as ILV and ETH values both change) 2.5SLP therefore is $6368

[rocky portal]

Is it possible to receive revdis if you have a SLP, or is revdis only for ILV staked (no SLP)

[ripe steppe]

yes your SLP does receive revdis (but only for the ILV part within your SLP) (also the rewards you earn from SLP are in ILV, if you claim those ILV rewards they too are then staked and they too earn revdis)

Revenue Distribution Explained

All revdis is distributed evenly between all pools based on how many ILV token are in each pool (no matter the token weights within pools) (SLP pool only factors in the total ILV contained in the pool and ignores the ETH value and quantity in this distribution)

Once distributed between the pools, within each pool the weights of individual tokens does matter (so a token with 2x weight would get double what a token with 1x weight would get)

Tokens within the pre-seed/seed/team pool all have the same weight so they all receive equal revdis

[lilac solstice]

Isn't the team and pre seed not earning because they are locked?

[manic spindle]

Locked Team/Seed tokens are excluded from Yield Farming after an approved IIP in the past. They are still staked and eligable for RevDis though 🙂

[lilac solstice]

Okay thanks

[fresh basalt]

so in terms of RevDis their weight is 2.0x?

[manic spindle]

Token weight does not matter for where the seed/team tokens are because they all have the same weight:
#💰〕token message
#🥩〕staking message 🙂

[fluid sphinx]

What is staking 2.0

[manic spindle]

#💬〕general message

Aaron did talk a bit about it in #809220563397902346 today 🙂

[fresh basalt]

Ok got it, the RevDis is divided into pools and since seed/team/vault all have equal weights, they all get the same amount while circulating Staked ILV and the staked ILV in the SLP pool has weights. So if my math is correct assuming there is a $4 RevDis that goes to the staked ILV pool where let us say there are only 2 ILV tokens 1 staked for 1 year and 1 staked flexibly, their RevDis should look like this: $4/3= $1.33, so their Revdis would be $2.66 for the 1 yr locked one and $1.33 for the flexible one. This also means that ones who staked for 1 yr would always have a greater amount of Revenue per token than that of the team/seed/vault.

[manic spindle]

That would be in line with my understanding, yes 🙂

[hot lynx]

SLP gets zero RevDis

[manic spindle]

That is incorrect. LP Pool stakers get RevDis according to the amount of ILV they own in that pool.

[cunning perch]

SLP = ILV + ETH. The ILV part gets RevDis (literally)

[hot lynx]

Great 🙂 as you said only staked .. I thought you were saying only LIV

Good and always good to be 💯 thanks guys

[rocky portal]

Thanks guys

[hidden field]

Great Timing to claim reward. 😏

[hot lynx]

So when we get RevDis and we have an SLP .. where does the RevDis ILV show up ?

[cunning perch]

RevDis still hasn't been added to the website. I suppose they might add another section just for collecting RevDis.

[hot lynx]

🧐 ok so we have a cool question to watch. I am thinking V2 + RevDis areas maybe ..

[cunning perch]

Just be patient. Everything in due time 🙂 RevDis won't be here until Land Sale, so just list your questions 🙂

[hot lynx]

Very patient passionate and interested . Zero issues 🤣

Chill

[cunning perch]

Good. Always good to have passionate, chilled and vigilant ppl around 🙂

[hot lynx]

Amen 🙏🏻 🚀 💎 ILV long term

[cunning perch]

Long-term is a word. Forever is the NFA concept 🙂

[hot lynx]

Happy to be focused on ILV daily and ongoing in all aspects 💯

[random crater]

Just put in another 4 SLP stake. This is addictive ....

With regards to impermanent loss I was wondering whether that has any effect on the rewards? Or is it purely on the initial investment when it's finally unlocked

[steady trellis]

It have an impact as the amount of ilv in your SLP may go down

If you mean by reward = revdis. Otherwise on APY then no impact

[wind walrus]

What @steady trellis said. If IL is really bad it could lower the amount of ILV and therefore impact RevDis. Luckily with the APY you should be gaining much more than you are losing.

[random crater]

Great thanks, and thank you Faultycircuit for the follow up clarification

[brisk surge]

Steak time, finally some low gas!

Was waiting maybe too long, that was a lot of ILV 👀

[wind walrus]

Or claim time for some

[brisk surge]

I claimed, that's what I meant

[cunning perch]

🐳

@hot owl After unlocking, They will be there in the pool and receive YF rewards + RevDis. If you wish, you can withdraw them (pay gas) to receive them in your wallet and sell/HODL. Be advised that withdrawing your unlocked rewards will revoke your right to receive YF rewards as well as RevDis.

Also, for now all are in multiple transactions. Later, the team might add all unlocked tokens in one batch. Not clear yet as it's not an immediate issue

[hot owl]

Roger. Thanks. Let's hope Ethereum 2.0 fees are lower next year then ey 🥲

[cunning perch]

Most probably. 🙂

[ripe steppe]

https://cooper1903.shinyapps.io/stakingyield/ play around with this calculator with different claiming times and gas prices to get an idea (if you are a huge staker it can be better long term to claim earlier at higher gas potentially)

[brisk surge]

@ripe steppe I tried but too much complexity for my wizard brain. I try to claim every two weeks max, sooner if gas is cheap.

[ripe steppe]

fat bags i see

[brisk surge]

My eyes are up here, sir

[ripe steppe]

when u say a lot of ILV stacks and then u claim rewards, what kinda numbers are a lot of ILV, 5, 10, 20,30?

for claiming that is

[brisk surge]

I want at least 5 in each pool before I claim.

Since I have to do 2 tx

[ripe steppe]

5ILV total rewards and then u claim? i think u should be claiming less often tbh

[brisk surge]

10 total. 5 and 5 minimum

[ripe steppe]

you earn as many rewards from the ILV pool as the SLP pool?

[brisk surge]

They are about the same rate actually. Funny how that worked out

[cunning perch]

At the same time? interesting lol

[ripe steppe]

you've got a fat fat bag in ILV staking and decent but not nearly as fat one in SLP

[brisk surge]

That is the case yes.

[cunning perch]

depends on how long it'll take him to have 5 in each. Everyday, or ever week or every month

[brisk surge]

Expensive at claim time though since I have to do both.

[ripe steppe]

may I ask someone with such a fat bag chose to not bang the lot in SLP and make an absolute assault on the fat APY?

[brisk surge]

I was brand new to Defi when I did it. This was right when it opened too. After the balancer. I moved all my eth off exchanges to do it. It was all I had to match at the time

[ripe steppe]

according to calculators it says its best for me longrun overall to claim once a month, and im claiming around 20ILV total each month

[brisk surge]

I also was worried about selling ILV to increase for it. I didn't want to lose tokens to IL

This was an experiment for me. Never done LP before and it's all funny money right?

[ripe steppe]

that is fair, also back then when ILV was cheaper IL was more likely, staking rn IL i dont think is that much of a threat over the coming months

[ripe steppe]

i mean you sure will be laughing at the end of it all with the stack you'll be sitting on lol, as will many of us, me incl i hope lol

[surreal sierra]

Any advice for a newbie im looking to stake less than 5ilv is it worth going to slp pool or just stick with ilv pool

[ripe steppe]

https://www.youtube.com/watch?v=7T2WzeXWC4k

[surreal sierra]

Also do you guys use metamask and do u buy eth directly on metamask or transfer it from exchange for best price

[brisk surge]

It's really funny. I am so glad I got involved with Immutable through Gods Unchained and found this project. 💖

[ripe steppe]

you buy eth elsewhere, transfer it into metamask then go from there (the above video will contain info that will assist u in choosing between the pools based on ur investment size)

[ripe steppe]

ngl ive not been in it that long but this is the best project I have yet to come across tbh

[brisk surge]

It's nice having my value locked into something I feel so good about. I was getting tired of sweating the market and wanted the value to be staked somewhere. Perfect timing and perfect place for it.

[ripe steppe]

accept me as a friend, lets take this to the dms cos were basically having a convo at this point on the #🥩〕staking chat lol

[surreal sierra]

Ooh that is a solid vid 👌🏽 makes a lot of sense

[deep mantle]

If I withdraw silv from one of my pool the rewards from other pools are also collected right?

[ripe steppe]

if you withdraw sILV from the SLP pool then yes this is correct (if you claim sILV only from ILV pool then no as you can claim ILV pool without claiming SLP pool)

[floral widget]

Thanks for the video! I love your calculator to find out when to claim 🙂 subscribed and liked

[compact hinge]

haha hey Vetemor

completely unrelated mate, i just watched your video on Youtube by chance and saw your name here, really good content mate. You deserve more attention, I threw you a like

[ripe steppe]

the calculator to find out when to claim I did not make (it is also linked on the pinned messages in this chat) but yeah its super useful

[gleaming brook]

The SLP will only earn the 0.25% transaction fee from the liquidity pool until you start staking. Right? Thanks

[silver nebula]

Nice video, I'll share with my mates who are interested in staking

[silver nebula]

Liquidity rewards are added to the SLP pool, so that will affect the value of your SLP

[light gorge]

When staking slp on illuvium i still earn 0.25% transaction fee from lp?

[wind walrus]

Yes, they are separate

[next ruin]

Correct. The fees impact the price of the SLP token, which you have staked.

[light gorge]

Wait but we dont hold slp on our wallet so how can we claim that?

[wind walrus]

It's added straight to your SLP. Has nothing to do with illuvium

[light gorge]

Ahh isee isee... so when i remove lp from sushiswap i get some extra, right?

[silver nebula]

Your SLP will vary in price based on a bunch of things. The transaction fees will positively influence the value of your SLP, so you will get a higher return when you sell it.
This positive influence may or may not be material compared to other factors impacting the value of your SLP, including divergent/impermanent loss

[wooden wing]

Hi. New here. How would I know from my dashboard if I have successfully staked? my dashboard shows the number of ILV I bought

[next ruin]

Bottom of the dashboard should show "Your Stakes"

[wooden wing]

and I see this from my metamask - Approve ILV spend limit

[next ruin]

When staking, there will be two trx to confirm 1) Approve contract interaction 2) Actually stake

[wooden wing]

ahh noted. so I press stake again, then input details?

thanks for the info

[next ruin]

If you don't have an active stake, no pending trx and only see the approval - I think, yeah give it another shot

[wooden wing]

any guide here about the difference between core and sushi LP pool?

I did core pool though on my first transaction

are txn gas fees usually this expensive - $101.77
0.03045ETH ?

any advise on how I can have a lower fee

[honest wraith]

#🥩〕staking message

[honest wraith]

Also if you look at the pinned messages on this channel there are several helpful videos/articles

[floral widget]

Depends on your luck, it can be way more (e.g few hundreds) or less , you can monitor gas prices and go in when gwei is 30ish which happens a few times already this week

[quick socket]

Anybody knew Immutable X schedule? With IMX, daily claim and compounding will be possible

[wind walrus]

Nope, we are waiting for Staking V2 proposal to learn more

[quick socket]

Does the current APY include some kind of daily, weekly or monthly compounding?

[wind walrus]

You earn rewards every block. Your rewards won't compound until you claim.

[deep mantle]

I have 3 core ILV polls..and I want to withdraw one of them in silv

Will I get rewards from pools too with it?

[ripe steppe]

You cannot claim them seperately, when you claim you can claim it all in sILV or in ILV and next time choose differently

[coarse stag]

I have like 40$ in ILV thats not staked. How do I go about staking it to make it worthwhile for the fees

[bronze heart]

wow gas fees 2k

[coarse stag]

WHy is that happening

[bronze heart]

no idea

[coarse stag]

Some NFT minting going on or what? Gas battle?

[paper wind]

"GalaxyEggs"

[cunning perch]

if u stake now, you're gonna spend $1k for gas

[bronze heart]

where do you see the gas fee use

[coarse stag]

gasnow.org

[versed salmon]

I've got an ETH / ILV LP on sushi swap that I locked up for 8 weeks. The lockup period is now over. If I leave the LP staked do I continue to earn the same APY or do I need to remove it and restake?

[coarse stag]

Continue on same multplier, can't really say same APY because that fluctuates anyways

[paper wind]

ultrasound.money

[versed salmon]

Sweet. So I can just leave it as long as I want at this point and it will keep the original multiplier from when I entered?

[coarse stag]

Yes thats correct. I put mine on 52 weeks lol.

[surreal sierra]

Just got quoted 3k gas fee at 2197 gwei 😂😂😂😂

Might have to wait till sunday to actually top up and stake

[coarse stag]

I think I will top up and Stake in the bear market. Illuvium is a long term hold for me

[versed salmon]

Very nice. So my current APY on the staking page says 538%. That was with an 8 week lockup. I noticed now that if I do an 8 week lockup it would be 309%. So am I still earning the 538% from my initial lockup even though it looks like the rewards have reduced a bit?

[coarse stag]

Yes I believe so, I can't really say for sure. But makes sense. Some OG on hewre told me Time in the market > timing the market and I guess U got it good

[versed salmon]

Sweet. Thanks for the help.

[cyan rampart]

The APY shown on the website is for a 12 month stake - when you go to actually stake, you choose your lockup period - 8 weeks should be about 310% like you say.

Stake weight scales from 1.0 for a flexible stake to 2.0 for a 12 month stake (which means double APY)

[versed salmon]

Ok. Cool. So my lockup period is over but I haven't removed my LP from the staking. So at the moment I'm earning the 310% with it just left in there?

[coarse stag]

But what he's asking if when he initially staked 8 weeks was 500%, so just leaving it now does it stay on 500%, which makes sense since if hes still staking the time goes on 9 weeks 10 weeks and not restaking

[cyan rampart]

Yup! It will continue to collect rewards at the same rate as when you were locked until you unstake it. APY isn't "locked in" though - its dynamic and your returns vary with what the current APY is.

[versed salmon]

Excellent. Thanks.

[coarse stag]

I just staked everything I have, I don't care to swing trade eth, I care to sell my ILV rewards in 5 years time,

[cyan rampart]

I guess to be super clear: You have the same token weight as when you initially staked, but that's applied via the current APY.

[versed salmon]

Perfect. Thanks for the clarification.

Ok. One more general question. It says that if I claim my rewards now, they'll be vested for 12 months but they will compound while vested. What rate are they compounded at during the vesting period?

[cyan rampart]

They are treated (for rewards purposes) as a 12 month stake in the Core Pool (i.e. 2.0 token weight)

[versed salmon]

Cool. And are they locked up for 12 months starting from the date that I claim? Or from the date that I originally started staking?

[cyan rampart]

12 months starting from when you claim - unclaimed rewards are not staked at all, they just sit there.

[versed salmon]

Ah. Ok. So, depending on how much reward I have and the gas fees it would probably make sense to go ahead and do a claim and let my rewards compound while my LP also earns more ILV?

[coarse stag]

This is the best tokenomics for long term investment in a game. Best belive

[cyan rampart]

Yeah, claiming depending on gas prices is a good idea - the sooner you claim, the sooner your rewards are finished vesting (and collecting their own rewards while doing so)

[versed salmon]

Very nice. Well thanks again for all the help guys.

Ok. One more just so I'm totally clear. So the vested rewards earn the APY of the stake pool and not that of the LP pool? So 71.83% currently.

[cyan rampart]

Yeah, that's right - while rewards are vesting they are treated like a 12 month stake in the Core Pool, so 71.xx% currently.

[versed salmon]

Ok. Sweet. Think I'm up to speed now.

[deep mantle]

Thanks 👍

[tepid jolt]

Is there a good resource that someone could shoot over to this baby bird needing a step by step spoon feed on staking via sushi?

[cyan rampart]

!staking Have you watched the video here?

[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

[tepid jolt]

I hadn't prior and appreciate it! Will check it out.

[manic spindle]

https://gfycat.com/scalyzigzagazurevasesponge

[wide eagle]

Just to make double sure, the reward ILV i claim that have a weight of 2, do they get the same resdis as the original token staked?

[elder dawn]

yes, claimed ILV rewards are revdis eligible (at 2x weight). Unclaimed rewards are not eligible until they are claimed.

[wide eagle]

excellent, just as i expected. now im just like the Gif 👆🤣

[elder dawn]

Ooh, one quick thing tied to your question - your original staked token revdis leverages their weight/lock factor. For example, if you lock for 6 months, your original tokens earn revdis at 1.5x weight, while your claimed rewards earn at 2x.

[clear cape]

That will be me when v2 staking is implemented

[quiet hatch]

When staking, could I:

• Stake half my tokens locked for 12 months
• And stake the other half flexible

And how would I go about doing this, I am guessing I would do two transactions into the pool, one after the other, to set the amount I want to lock up, and the amount I want to stake flexible?

[wild helm]

Learning into ILV staking the past couple days. Any advice for someone considering getting in now? Is it worthwhile to get in with small amts of eth/ilv?

[elder dawn]

yes, that's exactly how you would have to do it - it will be multiple transactions and multiple gas fees. Once you are staked, all claiming will be linked together.

[quiet hatch]

Nice, that's awesome that all the yield can be claimed together!!

[elder dawn]

that's the tough question and its up to your risk tolerance and expectations for ILV over time. There are calculators pinned that you can try different scenarios to see if it's worth it to you. Just know, the smaller the amount you invest, the more impactful gas fees will be on your return.

[wild helm]

Thanks I will check out the calcs.

[untold dawn]

Anybody know if rev dis will be higher for SLP vs Single Sided staking or at the same rate per Illuvium + weight?

[ripe steppe]

Revenue Distribution Explained

All revdis is distributed evenly between all pools based on how many ILV token are in each pool (no matter the token weights within pools) (SLP pool only factors in the total ILV contained in the pool and ignores the ETH value and quantity in this distribution)

Once distributed between the pools, within each pool the weights of individual tokens does matter (so a token with 2x weight would get double what a token with 1x weight would get)

Tokens within the pre-seed/seed/team pool all have the same weight so they all receive equal revdis

[untold dawn]

Perfect! Thanks 😊

[swift rune]

Hi Guys, I had 2 staked positions. Some SLP were locked and some were in flexible staking. I claimed the rewards a couple of days ago. However, it doesn't show on my available balance to be locked away again. What i want to do is to stake my entire SLP position for 16 weeks. How do I do that? i would appreciate any help. Thank you

I have tried refreshing my wallet connection and it still isn’t allowing me to stake for longer term again. My SLP position is not showing up when I go to core pool.

[ripe steppe]

let me get this straight, you have staked in the SLP pool twice? once locked and once flexible? you would like to withdraw your flexible stake and re-stake it to be locked? is this correct?

[swift rune]

Yup

[cyan rampart]

Did you check "vesting"?

You should be able to withdraw your flexible stake and restake it for whatever duration you want.

[swift rune]

I have. I can’t click on the deposit. Only withdraw. I have tried withdrawing a few time paying gas fees! Still the same issue.

[cyan rampart]

You'll have to withdraw before you can deposit - is your unstaking transaction failing?

[swift rune]

I have tried withdrawing. The rewards have been claimed every time but unable to unstake

[cyan rampart]

To be clear here - your locked stake will only be available to withdraw after the locked period ends. You should be able to unstake your flexible stake - but you're not able to via the "Vesting" tab?

[crimson spindle]

Are you using a mobile device?

[swift rune]

I am aware of that. I tried it after the lock period was over.

[swift rune]

My 1inch wallet is in my phone. When staking, I connect it to my computer

[whole nexus]

Ok I have a question of capital importance friends: I will very soon buy 3 SLP and staker them for 1 year, then another year (while my vested rewards are also staker in ILV pool). At the end of the 3 years I think I have at least 200 ILV.
All these ILV will have a weight of 2, right?
Only answer if you’re sure of yourself please I have to do calculations on this basis
Thank you

[ripe steppe]

yes they will all have a weight of 2 if u stake for the full year, once the year ends and they are unlocked they still have a weight of 2 (however you may not be able to amass a full 200ILV from SLP, although ofc u may, the reason for this is that APY is decreasing over time) recommend watching my in depth video on staking I believe it will assist you in your calculations https://www.youtube.com/watch?v=7T2WzeXWC4k

[whole nexus]

I watch that immediatly and i come to talk with you, i'm french so i will take time to understand the video ^^ thank you!

[ripe steppe]

I'm going to sleep right now, but if you leave any questions in my DM's I would be happy to answer anything tomorrow (also any questions you can ask here and im sure somebody else would also be able to assist you)

[whole nexus]

ok good night i will dm you , thank you!

[fresh basalt]

If my SLP would be unlocked after 1 year and I choose not to unstake, I would still get the whatever is the APY at that time right or do I have to unstake and lock it in for another year to get the YF rewrards?

[brisk surge]

Your vesting tokens remain staked with their token weight after your lockup ends. No need to re lock.

[mortal sigil]

Hey guys I'm new here

Is there a minimum to stake?

[autumn cloak]

There’s not, but you need to factor in the cost of gas fees. Theoretically you could stake 10$ but you’d be paying at least 10x that much in gas, so you just need to figure out what works for you

[brisk surge]

watch the video send a few mintues ago!

[fresh basalt]

Yes I understand the pool weight remains the same but do I still get the YF rewards or do I have to relock for that specifically

[mortal sigil]

Awesome I saw that - you're a legend!

[brisk surge]

hahha

[dusk minnow]

For people who have been staking in the SLP pool since the beginning. Do you have a sense of how much ILV you would have been returned per ILV staked in the SLP pool up to today?

[vivid hatch]

Hey guys, when you claim your staked rewards, would you be able to use your vesting sILV for in-game currency?

[brisk surge]

YF rewards are paid to staked coins. So as long as you dont unstake them they remain YF eligible.

[dusk minnow]

How do I know what the price is for 1 SLP? NVM, can look it up

[vivid hatch]

oh it says, sILV rewards are unlocked and can be used in-game once the game is live. 🙂

[gloomy gazelle]

Yeah. sILV doesn’t vest at all.

[gloomy gazelle]

Uh not really. The issue is that since the price has diverged so much the SLP holds less ILV than it used to. So it’s not even an accurate measure anymore. But it’s been fine, great really. Those that staked SLP from launch of staking and locked for 52 weeks have already earned more ILV than they staked.

[rugged juniper]

When staking on ilv how much eth should I keep? For the gas fees. Ilv only

[gloomy gazelle]

Depends. Are you staking SLP pool or ILV only pool? SLP pool will have higher gas fees

[tropic axle]

Is it allowed to buy sILV from dextools? And if i do can i use it in game.

[brisk surge]

sure. just make sure you have the right token address.

[brisk surge]

Question related to the rewards from the in game eth purchases buy back and re-distribution.

Which tokens are eligible for these rewards.

Is it all staked tokens combined? or is it just the token rewards claimed in vesting.

Also is the ILV portion of the SLP eligible for the rewards as well?

[steady trellis]

all staked ILV + the ILV part of SLP

[small moon]

Is there an ilv white paper?

[patent holly]

https://docs.illuvium.io/

[brisk surge]

Question related to when to claim rewards. Because we currently have no revenue distribution I was thinking the best time to claim my rewards would be just prior to the first land sale, then once these revenues are redistributed I would get the compounding effect on rewards... . Is this correct approach?

[mint cave]

really depends on how much compounded rewards you're giving up by waiting

using either of these calculators could help clear it up

https://discordapp.com/channels/760344898200666112/859866659011690537/879426095512956969

[clever sandal]

How are y’all staking

Locked or flexible?

[fading kettle]

locked

[next ruin]

https://tenor.com/view/locked-up-lock-secure-security-safe-gif-16325786

[clever sandal]

🤝

[grizzled granite]

hi may i please ask just saw a video

about revenue distribution

what about the liquidity pool eth-ILV

do those guys get revenue distribution too

or only the ILV staking pool??

thank you

[mint cave]

they do, yes

they receive revdis proportional to the ILV portion of their SLP

[grizzled granite]

oh so both ilv single stake

and eth-ilv LP stake pool

both get the upcoming revenue distribution then?

[swift spindle]

Yes, RevDis is paid to stakers of ILV so it is paid to folks in both pools as part of your SLP pool is ILV that you own

[grizzled granite]

ah thanks !

just confirming adding one more eth to my core pool

its ethereum top and illuvium bottom right for the liquidity adding just making sure? thanks

just making sure if this is the correct order? haha thanks

[kind loom]

Gas looking reasonnable, might be able to sneak a claim at 30 gwei this weekend.

[grizzled granite]

heya can you confirm if i put ethereum on top and illuvium on bottom is the correct configuration for the LP token, haha sorry im kind of newb, thanks

[kind loom]

Afaik, what is on top and bottom doesn't matter when providing liquidity.

[grizzled granite]

oooo so thats the case thanks hagha

only 1.25 tokens XDDDDD hahaha noooooooo

[plain marsh]

The image you posted shows the ETH and ILV icons… as long as those are both there your in the right pool. Just make sure you own the right amount of both before you submit… plus enough ETH to cover gas costs

[grizzled granite]

beautiful thanks ok all sorted now 🙂

[ruby ridge]

still more than me, a moment ago i was so happy with low gas fees i forgot to count the amount of SLP after convert went in straight and only got sub 0.8. anyway, welcome to the club

[grizzled granite]

hahaha ah ok can add more over time get ready for land sales and revenue distribution haha yessss

[cyan wagon]

welcome to the club 😄

[ruby ridge]

aye, my SLP staking only cost me $33, probably one of the lowest i've seen in a while

[floral widget]

Anyway I can tell the amount of sILV minted so far?

[elder dawn]

Here. Over 14k now claimed. https://etherscan.io/token/0x398aea1c9ceb7de800284bb399a15e0efe5a9ec2

[floral widget]

Thanks! Look like a whale have accumulated 2000 over silv…

[steady trellis]

In 1 claim 😅

[floral widget]

Yup I suppose he gg to bid $1m worth for the T5 haha
Sorry , another question , is it possible to also tell the amount of ilv that is mined but not claimed?

[upbeat portal]

Need help please ! Someone can dm me ?

Need help for staking

[elder dawn]

My math has it about 100k not yet claimed.

[floral widget]

Wow if 50% of it is claimed to buy land , I think can forget about getting land

[silver stone]

If I lock stake my ILV, do I need to pay gas fee both to enter the pool and when I leave it?

[floral widget]

Even if you don’t lock it is the same

[silver stone]

Yea but I have to pay gas fee twice right?

[prisma schooner]

Hello, I just Started vesting 4 ILV (Rewards) with a weight of two. How do I calculate wow much ILV ill have at unlock?

[elder dawn]

Yes, each end of it interacts with a smart contract, so there are fees on both staking and removing

[elder dawn]

Check out the pinned calculators. It will depend on pool growth over time as to how much interest you'll receive. My rough estimate, between 1 and 1.5 ilv at the current growth rates. You'll need to claim and vest those eventually also

[crisp oriole]

Hi Team, I have been staking my tokens with sushi for a WHILE now

Do stakers get any character airdrops as we are doing more than just being in general chat and what not.

[elder dawn]

Everyone starts at the same place when the game launches. Only nfts ahead of time are cosmetic.

[crisp oriole]

When are the first NFTs dropped to play? Where can I learn this? Not very active as I have been waiting on the game to come out

[elder dawn]

All actual game play nfts must be created/captured in game. No drops

Check out the various interviews on youtube with kiernan and aaron. They are gradually leaking info, but a lot is still in development

[crisp oriole]

I see so I assume we start with the base character, then play him to capture whatever we come across

[elder dawn]

Correct

[crisp oriole]

very cool, gotta get my runescape skills on lol

[tulip rose]

When you claim a reward as ILV does it automatically stake or do we need to do another transaction to stake? Im trying to figure out how much the fees will be

[cyan wagon]

auto staking...

[digital bobcat]

My total pending rewards has sat at the same amount for nearly the last week

anyone else experiencing the same?

[stray eagle]

Good morning from Spain!
I have a question. I have locked 2,58 SLP tokens for 52 weeks.
Once this time is gone, do you recover again eth and ilv if yo withdraw it?

[hollow kelp]

You recover the SLP then can recover the ETH/ILV from sushi swap again (is my understanding)

[stray eagle]

Ok

Thx!

[gloomy gazelle]

Did you stake ILV or XYZ?

[static folio]

Anyone have a guide on how to stack? With this high fees what would be the miminum amount of eth to stack for a newbie?

[digital bobcat]

XYZ

[gloomy gazelle]

XYZ was a flash pool. Only lasted for 2 weeks. The ILV distributions to that pool are over.

[gloomy gazelle]

#🥩〕staking message check other pinned things too

The only long term pools are the core pools.

[static folio]

Thanks for that! Sorry im nee

[digital bobcat]

oh righ, i must have missed that. Does that mean my ILV rewards and staked XYZ is still locked or can i claim both back now?

[gloomy gazelle]

XYZ deposit is unlocked. Your pending rewards can be claimed immediately as sILV. Or claimed/vested as ILV

!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]

No problem. Basically you want to earn more rewards than your gas fees. The longer your lock your deposit the higher the APY will be. But the apy will always be changing. But 52 week lock will give you the highest apy possible.

[digital bobcat]

Thank you 🙂 sorry this feels like a rookie question. How do i get the XYZ back? I can see where to claim ILV or sILV but not my liquidiy.

under the vesting tab, but must select ILV or sILV first

[gloomy gazelle]

Yup. So you’ll have two transactions one after the other. It’s best to set the exact same gwei for both transactions. More likely to process at the same time and be successful that way

[stray eagle]

Hi People,
I have another question about rewards from staking

Once you start claimg rewards from locked stacking, they are set to another pool of 70%APY locked for a year right?

How does this year count? After the first time you claim reward or after you claim all rewards?

[cunning perch]

The moment you claim, your ILV rewards will move to the ILV pool (lower APY) and stay locked there for one year.

[stray eagle]

If you claim lets say 4 times for the rewards from sushi lp, will each claim have his own year period count?

[cunning perch]

yep. each claim will start the one-year vesting after you claim it. So you'll have different locking periods

[stray eagle]

Ok! Understood

Many thx

[potent flare]

what is v2 staking? seen the term being thrown around

[cyan rampart]

We don't have an official proposal on Staking V2 yet, but it's generally staking improvements.

[cyan rampart]

If you search posts by Aaron on "staking" you can see the updates. https://discordapp.com/channels/760344898200666112/809220563397902346/885001078104551424

https://discordapp.com/channels/760344898200666112/809220563397902346/887216184016142336

[potent flare]

Thanks, I appreciate it

[still kindle]

Gas is in the 30s guys ... a pleasant sight if you want to claim....

[wheat grotto]

Hey guys, you know I’ve staked my investment for a year.. if for example the game trailer is released and the token rises to 1000 for example would be staked yield benefit from this? Or would I need ILV in my wallet that increases with the price to see the benefits?

[stray eagle]

You get ilv rewards, not subjected to the price

If ilv crashes to 50$ or goes sky rocket to 2000$ you will receive your rewards in ilv tokens, not the value of the token

[oblique raft]

👍

[surreal sierra]

Ooh staking v2 to get 2.0 weighting you need to lock in for 2 years 👀👀

[glass urchin]

does that effect the people that have already locked for 1 yersr @ 2.0 weight

[chilly lodge]

Hey guys quick question once i claim my ilv can i convert it back to eth and claim it to my wallet

[halcyon oracle]

Read the complete paper please ^^''''

[ember basalt]

of course you can 😄

but it will vest for 12 months so after that timeframe you can swap it

[floral widget]

Is it only the pool locked for 2 years or reward as well? Ie if I am on a 2 year stake , is my reward locked for another 2 years when I claim it?

[hybrid wraith]

will we have to pay gas fees for this transition? that will suck for anyone with low amount of ilv staked

[surreal sierra]

Vesting period is different to staking so id think it doesnt make any difference to the vesting period

[stuck rune]

hmm i think it makes a difference. cuz the vesting period is 1 y currently which gives is 2x boost. so if we go v2 and it remains as 1y. so the boost should also become 1.5. if not claiming always has better boost than staking

[swift rune]

Hi Guys, would love a video walk through of staking and unstaking. I might be missing something in terms of resources but would be of great value as we will need to make decisions when gas prices are low. I have tried it again without any success. Withdraw>Prompt for transaction approval> transaction goes through> rewards claimed and ....nothing....

[cunning perch]

check out the pinned messages for great vids 🙂

[rich timber]

can you "dca" into a liquidity pool?

[dense sable]

Hi. is it possible to stake my ILV tokens via to send them straight into staking wallet adress? (0x25121EDDf746c884ddE4619b573A7B10714E2a36)

[steady trellis]

Yes

[verbal sphinx]

Hey guys, just wondering what is the meaning of weight when i stake a coin? (I realise this term being thrown out a lot here) Till now i don't fully understand what am I doing haha

[rich timber]

if you've ever invested into a time deposit at the bank, the teller/financial advisor will probably tell you that the longer you lock your money, the bigger the interest will be because you're basically guaranteeing the bank that you won't withdraw your money for that time period and thus allows the bank to do whatever with it so it can earn. Weight, is basically the same guarantee except with ILV staking you aren't given the option to withdraw early for whatever reason. a bank btw will usually impose a huge penalty for an early redeem

[young cape]

hey all - has anyone done some calculations on the passive income generated on 1 ILV token if the vault brings in X $ per month? - very interested in this

upon all tokens being issued - as this probably makes it easier

[cunning perch]

This might help you #🥩〕staking message

[pure mica]

Hey guys, I've go a question. I want to keep and stake my ILV tokens on a hardware wallet but from what I've seen on both "ledger" and "trezor" sites none of them support ILV. Yet, on the "ILV Staking Tutorial" by Illuvium Academy you can cleary see that the person staking there is using his ledger hardware wallet. How is that so? Does he just send eth from his ledger to online wallet, where he buys ILV and stakes there?

[quiet hatch]

Create a Metamask wallet, then in the options choose to connect your HWW with your Metamask wallet

Then you send the ILV tokens to your hardware wallet's ETH address, and use Metamask as the front end UI

[granite halo]

Ledger and Trezor are just Hardware wallets, metamask will be your interface.

Basically goes like this:
Trezor/Ledger is your Safe→Metamask is the bank teller linked to your HW wallet that deals with everyone who wants access to it.

So send coins into your safe(HW wallets), then link that HW wallet to metamask.

[verbal sphinx]

thanks for replying my qn! This helps a lot 🙂

[pure mica]

Both @quiet hatch and @granite halo thank you very much! I am kinda new to this so there are still bits that I don't get. Can you tell me what's the point of supported assets on hardware wallets then? Cuz from what I understand you can simply connect them into any other online wallet that supports some coin/token that HW wallet doesn't and manage it from there.

[granite halo]

Ilv is not a special token like XRP with its own network/standards for example. It is a subset of tokens on the ETH blockchain called ERC-20. Any ERC-20 token can be stored in eth addresses.
In order for ILV to be recognized/displayed by the HW wallet and metamask. All you need to do is to add the corresponding contract address for the token.

[dense sable]

Hi. is it possible to stake my ILV tokens via to send them straight into staking wallet adress? (0x25121EDDf746c884ddE4619b573A7B10714E2a36)

[granite halo]

Omg please don't do this.

[pure mica]

Ohh, that makes sense, thanks a lot!

[dense sable]

im not..only asking cause its almost for free and the final adress is same like with big gas fees so where is difference?

[granite halo]

How will the adress know your tokens are yours? How will it know if you want locked/unlocked, and for how long? How will you claim rewards?

[dense sable]

make sense. it can only connect my ILVs with my wallet like now 🙂

[granite halo]

You need to create a smart contract with the staking wallet that tells it all the details. That is why it costs so much gas. Has lots of data.

[quiet hatch]

Question about staking and revenue distribution:

• Does staking weight (e.g. locked weight of 2.0), also count towards revenue distribution (i.e. 2x revenue distribution rewards)?
• Or is staking weight only relevant to the staking yield rewards?

[pure mica]

One more thing, let's say I am already staking on metamask, but then decide to buy HW, can I transfer all the assets there?

[wind walrus]

Token weight of 2 counts toward RevDis.

[manic spindle]

Token weight does affect RevDis, yes. Pool weight does not 🙂

[wind walrus]

Not if you are locked, if you are flex you can unstake, move to HW wallet and restake. Gas fees for each TX

[wheat venture]

I claimed below 40 gas not bad. Costed me about 23$

[quiet hatch]

Awesome, that was my next question 😂

So to reiterate:

• Locked token weight does affect RevDis
• Once the vesting period expires, tokens maintain their weight (forever) until unstaked
• Pool weight only affects staking yield, and is not factored into RevDis

[wind walrus]

Not bad, ILV Core only?

[wheat venture]

Yea

[manic spindle]

👍 🙂

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

[fluid sphinx]

will staking 2.0 fix the issue of having to pay two gas fees for trying to only claim one

[foggy meadow]

5 days later...

@fluid sphinx allways the 1º time u pay 2 gas fees

5 days staking my slp :___)

[quiet hatch]

Back again 😬

• If I stake for 12 months (locked) in the Sushi LP pool (to gain the 2.0 token weight)
• When my tokens unlock, would I be able to move them to the ILV pool (e.g. if I wanted to sell my ETH), but maintain my 2.0 token weighting (without an additional lockup period)

Or would selling my staked ETH require unstaking and restaking into the ILV pool - thus I would lose all token weighting benifits if I want my ETH back? 🤔

[wind walrus]

After the initial lock period ends you can remove the SLP. You will lose your 2x weight. You could then convert whatever funds you wish back into ILV and stake @ 12 months in the ILV Core pool to regain your 2x weight

[silver nebula]

Is it possible to view your staked LP tokens from within Metamask?

And staked ILV tokens for that matter...

[next ruin]

Directly in metamask, I don't think so. I've been using zapper.fi to monitor my stakes.

[wind walrus]

Not that I'm aware of. I believe they are removed from your wallet and added to the pool. You can use the Dashboard

[silver nebula]

Oh wow, zapper.fi is cool!

It even found my nyancat tokens 🙂

[quiet hatch]

Okay, so essentially moving pools results in the loss of any token weighting that was acquired?

[wind walrus]

Correct. Once you Re-Stake @ 12 months again you can regain that weight. As long as there are still 12 months left in the YF reward cycle

[next ruin]

Moving pools necessitates ending your first stake, so yes.

[quiet hatch]

Or possibly 24 months depending how restaking works for those who staked during 1.0 staking I guess.

Okay thanks guys!

[wind walrus]

My plan is to keep my current SLP staked until there are about 14 months left of YF and convert all that to ILV Core so I can have 2x for life. Unless there is a proposal to raise rewards for keeping SLP

[quiet hatch]

Yeah that's exactly what I'm trying to figure out, how to maximize the yield but also get the 2.0 RevDis for life, without having my ETH locked up forever with it 😅

Sounds like a decent plan tho!

Edit: So we need to also hope/vote for v1.0 stakers to be able to move pools and be able to still acquire 2x weighting with 12 months lock then?

[fair wedge]

Hi, are there any news regarding when exactly they might increase the lock period of 1 year to 2 years if they go with staking v2?

[wind walrus]

Maybe. We should learn more when the V2 proposal comes out. As the YF cycles starts ending I'm sure the community can figure something out. If we all pull liquidity then that is bad for ILV

[fair wedge]

I'm just looking to stake 2 ILV as im a small timer but im thinking i should do it before V2 comes out

[wind walrus]

We really don't need to increase the time from 1 to 2. You can just keep it staked

[quiet hatch]

Indeed, seems like there will still need to be an incentive to keep ETH locked up 👍

[surreal sierra]

Ive done the same today only have 3odd ILV but stuck it into the pool, the gas is a little high right now but was good in the morning

[fair wedge]

you staked in the ILV pool right? not the SILV

[surreal sierra]

Yeah standard ILV pool not the SLP one

[surreal sierra]

Slp too expensive with fees for small hold like mine

[fair wedge]

yeah i agree..

[wind walrus]

Hopefully V2 will help with that but we won't know until the proposal is released to vote on

[surreal sierra]

Yeah all im looking forward to is revdis from land sale and price action with my holding

Maybe ill top up more at v2 and cash in some silv when game releases for in game spending

[gloomy gazelle]

@still bough staking has been live for months

[wide eagle]

can anyone give me a recap on what Aaron said in governance, there is sooo many messages. please i need team Valian Ranger support! it has to do with staking

[next ruin]

https://tenor.com/view/autobattler-rpg-blockchain-gaming-crypto-gaming-cryptocurrency-gif-22429310

[steady trellis]

Summary : good changes, making everyone happy, 2 years staking for new comers

[wide eagle]

i know but i want to understand why!

[wide eagle]

lol i got that with the quick scan i did in governance. but im already in both pools, just want to be on the hype train too!

[steady trellis]

Then you’ve a pdf to read and a few messages 🤷🏻‍♂️

[wide eagle]

ok, point me to the pdf! i needz to knowz😋

[steady trellis]

Pinned in #809220563397902346 👍🏻

[wide eagle]

Shot, lol noob mistake🤦‍♂️

@steady trellis my face just melted off reading the PDF! im SOOO stoked im classified as a early investor💪 whoo hoo time for a 🍺

[quiet hatch]

Hey, is yield acquired from revenue distribution claimable instantly as $ILV?

Or does that also require a 12 month vesting period after claiming before unlocking?

[wide eagle]

Instant from revdis

[steady trellis]

I do not think you’ve to claim the revdis (and pay à gaz fee) as they will be unlocked 🤔 not sure on this 🤔

[wide eagle]

yip the pain of Eth smart contracts🥲 but i would love to wrong

[quiet hatch]

So essentially RevDis will be providing buying pressure, but as soon as it's distributed stakers could be applying an equal selling pressure

[steady trellis]

Hypothetically, yes

[clear cape]

Sure but that won’t happen

[wide eagle]

yes but claiming everything and selling it all wont be the choice of the majority of investors, as not to put it back in the first few years will be bad for those expecting major yields forever. obviously most would take a bit of profit, it is the point of revdis but it would be good for getting the weak hands out early if they just sell off yr 1 as they cause alot of FUD sell offs dips

[steady trellis]

It’ll depends of so many things … don’t think it’s easy to predict ….

[wide eagle]

i know, but i could drive down the street and get hit by a car. nothing is for certain. but people that sell off hard with revdis are basically killing the goose that lays the golden eggs for themselves

[lilac coyote]

Revdis is taxable for a lot of people so selling 30-40% of revdis may be necessary unless people use other sources to pay taxes.

Ie trading ILV for stable coin. Some who remain bullish may keep the revdis ILV staked until time to pay taxes tho.

[gloomy gazelle]

There may eventually be a button on the UI to stake revdis waiting to be claimed instead of just withdraw to wallet.

[lilac coyote]

Yes that would be nice. I’d like to let revdis sit for a year before withdraw to reduce tax burden.

[steady trellis]

I agree. But everyone will be in a different position. For exemple even me i don’t know what I’ll do. Token price and revdis quantity will be important to consider, adoption of illuvium also. For exemple, would I want to take my revdis out and put in a less risky investment ? Or more risky ? Will I want to reinvest to get more revdis ? If illuvium expand like crazy it make sense, if illuvium adoption is slow it make less sense. If revdis is crazy high and I can retire, I’ll need a part of it for my expense, if I don’t I could reinvest all of it for a while, so so so many variables … and it’s only me. Now take this confusion, and multiply by how many stakers there is … 🤪

[quiet hatch]

( I'm just trying to think it through from as many angles as possible, playing devils advocate on my investment thesis :D )

[lilac coyote]

Disclaimer, I don’t know the tax details yet of how this will all work. Just speculation

[steady trellis]

I really need to look and understand how tax work in others countries 🤔

[quiet hatch]

Exactly, this is like reading from the guy inside my head right now hahaha

[wide eagle]

in South africa, only once it is cash in my bank account and more than my initial investment, only then do i pay capital gains tax

[steady trellis]

I suggest, Make different scenarios, personably i did a bear/realistic/bull at 1y and 3y and take those as basis to make plans. And stick to your plans.

There is nothing wrong taking half of the revdis and invest in a boring 2% dividend etf if it lower your risk and make you feel better

Something I’m 99% sure is that I’ll try as much as possible to never took my invested capital out, only revdis

[quiet hatch]

Also trying to work out the reality of yield from ILV Vs SLP pools, after accounting for potential inpermanent loss.... And for what happens to price up to March 2022 whilst the circulating supply is still only 600k. Very hard to figure out what the best move is here!

[steady trellis]

Well this I already said here, I understand that people think about IL. I personally say fuck it I don’t care about it. For the supply and unlock of token, yes it’ll have a big impact … or none … again you can make sub-cases to your cases to have some guidelines … lot of dilemmas we will face 😂

Now add to that all the revenues streams, new games and so on … 🤯

[next ruin]

For the next six months, I personally think SLP is a no-brainer if you are investing enough to make gas make sense. Not worried about IL in the slightest there. Longer term, I think it gets a bit foggier.

[wide eagle]

check out @ripe steppe video in #🎨〕community-content on staking, it will give you an idea of where your next step will be

[ornate cypress]

I'm going to divide my rev dis between restaking, spending money, and rebuilding my crypto portfolio that I sold off for ILV lol

[steady trellis]

Agreed. Most of the gain from SLP are going to be made the coming 8-12months more or less. After that other considerations will come in …

[quiet hatch]

But if you're staking in the SLP pool, and if you expect ILV to be making big gains relative to ETH over the next 6 months (whilst supply stays stable at 600k), you could end up with less ILV after 6 months if you withdrew then due to IL?

I'm going to watch a bunch more videos this afternoon on liquidity providing/yield farming so I can better understand this. But that was the impression I got.

^This is in the scenario if you wanted to sell before March 2022.

Otherwise I think long term, assuming the price of the token comes back down as the supply expands, it seems SLP would be better...

[next ruin]

The token would have to go to some ridiculous number for the IL to outweigh the APY of SLP staking IMO.

[wide eagle]

get back to me once you see the price prediction for illuvium in the next 3-5 years......just please dont sell all your stuff to get ILV. be responsible🤔

[quiet hatch]

Any idea what that number would need to be 😅 ?

Ah yeah I guess it's also needs to be ridiculously number relative to ETH too, which makes it more unlikely (than relative to USD).

Because relative to USD, it could do a 10x from here to be the same market cap as AXS at around 4 billion. But this only works whilst ILV still has a supply of 600k . But a 10x relative to ETH would be another matter

As at 10M supply, $500 ILV is already 5B. 😅

[next ruin]

We shall see - I am significantly more bearish on the token price than a lot of people around here. Meaning I only realistically see a 2x to 3x long term from here. But maybe I am way off. Either way, I'm just flipping my Eth mining profits into ILV for the time being.

[steady trellis]

Ok if you look here, there is a lot of number but the thing is I should get around 306ilv after one year, I’ve 71 in total as of today, so 1 year = 229 ilv with almost 2/3 coming for my slp. While if you look at 3 years, it’s only 144 more and majority of the ilv I’ll get are coming from ilv pool, not SLP pool anymore. Not sure it’s easy to read with just a screenshot like that

[quiet hatch]

Yeah, imo long term (at max supply) I think that's 'reasonable' (not that crypto is normally reasonable)

[wide eagle]

like i say get back to me after your deep dive. i like a different opinion it helps gauge my mind and the market

[silver stone]

If we lock stake our tokens for X weeks, do they unlock automatically? do I HAVE to pay the gas fee right away or can I continue staking if I want to?

[ornate cypress]

I've already made the total amount from my slp in rewards so if my entire slp went to zero then I made out better than just hodling.

[quiet hatch]

Could you share this doc so I can play with the numbers :)?

[steady trellis]

https://docs.google.com/spreadsheets/d/1eupQ4baU_GGR3WAk5fDrQI29O4jJcc_bd9ueaiPk-Gg/edit

[clear cape]

2x long term lol ? Why

[quiet hatch]

By selling your initial investment (flexible?) and keeping your claimed ILV?

[next ruin]

Fully diluted market cap

[clear cape]

Lots of ILV wont be minted and a large portion of those 10 million will be staked, plus the fact over 2-3 years crypto space most likely to grow

Especially with v2 coming up, lots of coins will be staked for 2x the time period. I feel like that price prediction might be a bit too bearish like you said

[steady trellis]

My bear case is at 500$ 1y, 1500$ 3y. So I tend to be aligned with you.

[clear cape]

I do agree though, im probably 1 stage more bullish up in comparison

[steady trellis]

For me, the more staked, the less value for the token

[quiet hatch]

How many tokens would be circulating in 3 years though, seems like a big number if it's also potentially a bear market

$1500 * 9M circulating supply say (or assuming a bit less perhaps from treasury and sILV burn)

(And we know from experience, even the best projects go -60 to -80% in a bear market)

[steady trellis]

Because more staked = less revdis = less incentive (but again, personal opinion, and I’m more than happy to see counter arguments)

[next ruin]

The sILV "burn" is nice, but I don't think ends up making a huge difference in the token price. Crypto may be in a bear cycle next few years, so a bearish estimate of 2x growth is also pretty exciting, I think.

[clear cape]

I think yes a 2x is exciting if there is a bear period, I guess it also depends on if you think a bear market will last for that long

i personally dont see it happening with the eth updates coming next year

[steady trellis]

I think 9m is a good estimate and would be great for illuvium price, but I don’t think the project will be as volatile and the value of it will be much more stable even in bear market

[silver stone]

bumping this

[steady trellis]

Definitely

[next ruin]

They'll unlock, but until you withdraw they will keep earning rewards at the same rate.

[clear cape]

More staked = less coins in circulation, less selling pressure

[quiet hatch]

Just have to make sure we are being as realistic as possible, and not overly hopium (and do t get me wrong, I am hypeeeeed)

But I have also experienced the bear market haha

[steady trellis]

What happened during covid …. Sales of video game just when through the roof … a bear market in crypto won’t have as bug of an effect of illuvium … if they also go out of the crypto sphere using stable coin, it’ll be a blast even in bear market

[clear cape]

I agree with this too, if the game is successful it wont be hurt too much

But it definitely will be restrained in its evaluation in comparison to if it was thriving in a bull

[quiet hatch]

My initial thought was I could see a drastic increase in price until supply unlock, but then potentially a return back to around $500, if the mcap of $5B was the target (which is inline with Axie and also TradFi top AAA game companies)

But ofc, this mcap doesn't account for the play-to-earn and RevDis value etc.

Ahh... It's so hard to even estimate lol

But I'm just imagining myself watching it moon, being unable to sell because I'm locked in for 12 months. And then watching it go back to 500 or lower as supply/bear market shock hits 😅

[steady trellis]

I believe maybe against the usual current. For me, the starting point of the value for illuvium, won’t be a buy/sell pressure, well of course it’ll play a part but I think the most part will be revisits dépendant. But I’ve no crystal bowl and maybe I’ll be proven wrong

[steady trellis]

Sadly there is nothing on the market you can compare illuvium with. The biggest game company have no crypto, NFT, revdis …

My 3y bull case, if you look at it, have a market cap of 150b 😎 if that’s not fucking bullish I don’t know what will be 😜

[quiet hatch]

Yeah agreed... Potential for legit competitive AAA game + play-to-earn/NFTs is quite mind blowing.

[clear cape]

The revdis for ILV is a big thing, its like dividends on steroids

But i believe the price will still fluctuate a fair amount just like any other type of stock or crypto traded on an open market

[steady trellis]

I worried of a big gap up for revdis when the game start and a big cool down after a few months … that’s where the « life » they add to illuvium will be important. New illuvial, events, Halloween theme, Christmas theme, and so on and so on …

[clear cape]

I think the team is going to be making constant updates to add more life into the game so we should be good.

Hopefully they have more revenue to hire more people too so then we can expand the scope of the project even more

[steady trellis]

The sustainability of the economy if going to be key

[quiet hatch]

I'm thinking I might do 50-50. 50% to sell into the potential blow off top around the release/unlock

And 50% in the SLP as my forever RevDis.

But part of me wants to be all in RevDis lol

[steady trellis]

With 1.85m ilv in treasury that will get revdis … they will have a lot of bullets …..

[ornate cypress]

My slp is staked for a year, going to let it do its thing. All I'm saying is I've made the same amount I put in slp, in ILV rewards that are locked up. So impermanent loss is not a factor to me.

Had I just held the slp in ilv, I'd have less money

[next ruin]

https://tenor.com/view/rave-rave-girls-took-too-much-autobattler-rpg-gif-22413111

[quiet hatch]

Ah got it, you confused me when you mentioned if it went to zero. Because if it went to zero, you'd have a lot of tokens worth zero 😂

Ahh okay so you were referring to IL, yeah that's nice. Damn I feel like I'm so late already lol

[clear cape]

Check what i said in general, u might have a good input

[silver stone]

It wont switch to the flexible rate?

[ornate cypress]

Yeah I was just exaggerating to illustrate my point that slp has been really good to me and I'm not worried about any IL

[next ruin]

Nope. Until you pull your funds, they remain at whatever rate you got for your initial lock. Rewards as well.

[steady trellis]

Interesting question

[swift verge]

Sorry for the noobie question but what does weight mean? And how come i staked for the maximum time lock to get 2.0 (ILV core pool) weight but when i look up the core pool it says weight is 19.61%?

[next ruin]

Token weight refers to how many tokens your stake counts for when calculating your portion of YF and RevDis. Not 100% sure about your second question, but it sounds like you are looking at the total portion of YF rewards going toward each pool. Supposed to be 80/20 for SLP/ILV-only.

[swift verge]

Ah okay, yeah i was looking at the YF rewards for each pool %. Thanks for answering my question. Appreciate it 🙂

[gloomy gazelle]

where is your spreadsheet? I want to play with it!

[steady trellis]

I sent the link a bit earlier

[steady trellis]

Here @gloomy gazelle

[gloomy gazelle]

ill take a look and may pin it

thanks

[gloomy gazelle]

very fun very editable

[steady trellis]

😘

[gloomy gazelle]

Oh man what is getting me hyped is looking at the bearish numbers. I'm like those look just fine to me. I'd be happy with that. Looking at realistic and bullish... well 💥

[cunning perch]

Explosive contribution.

[bold lake]

Where can you find the price of SLP?

[cunning perch]

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

[bold lake]

Thank you!

[storm wolf]

Does most people here do the 1 year 500 percent lp?

Sounds like u can double your ilv in 2 months when u do the 500 percent staking

[cunning perch]

Maybe not most, but many do. One should always have a plan. The ones taking the risk will get more APY. What you get is not definite. There are some calculators that can help you (pinned messages)

[wind walrus]

Everyone is different and have different investment strategies and tolerances

[cunning perch]

https://tenor.com/view/gta-sa-gta-san-andreas-grand-theft-auto-grand-theft-auto-san-andreas-gta-one-liners-gif-17466404

[wind walrus]

But yes, you can substantially increase your ILV holding by staking SLP if you know the risks

[wind walrus]

Lol, thanks Arash

[cunning perch]

No worries. 🙂

[stray eagle]

Can you loose your initial investment if one coin goes too high and the other stays the same?

Or the risk is only if they go down?

[next ruin]

If one goes up and the other stays the same, you will get back more than your initial investment but less than if you had just held both. https://academy.binance.com/en/articles/impermanent-loss-explained

[stray eagle]

Ok, im fine with it

[quiet hatch]

Do we also get a percentage of the fees from the liquidity pool? And if so, where can I see the daily fees for the pool?

I'm really struggling to figure out whether I want to do the ILV or SLP pool 😅

[quiet prairie]

Hi guys. Question, are the RevDis added to the rewards of those who staked? or will be given differently? How will we receive the RevDis?

[next ruin]

Yeah, the price of the SLP token reflects the changing price of each asset as well as the portion of fees accrued.

[manic spindle]

!revdis RevDis has to be claimed individually as well. It's not integrated yet though 🙂

[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.

[quiet prairie]

Thanks! looking forward to it! hopefully i can get enough to buy me a PC to play the game. 😅

[covert sage]

what is the address to silv

[quiet hatch]

@manic spindle do you know if there is any planned incentive for people to keep their ETH & ILV in the SLP pool once staking rewards are finished?

Because I can imagine at that point, people might want to pull their out ETH, and restake into the ILV pool (perhaps vesting to gain their 2.0 weighted RevDis gains again).

[manic spindle]

!contract

[woven ibex]

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

[manic spindle]

I haven't heard anything specific myself but that doesn't mean the team couldn't have discussed this at some point somehow 🙂

[quiet hatch]

Any idea who I could point the question towards :)?

[manic spindle]

@exotic igloo You got an idea here? Might have come up before maybe already.

[kindred merlin]

Hi All, I don't know if this question is asked best here, or in the token discussion, But here it goes:
Q: Is there anyway/anyplace where it is possible to track/see how much unclaimed ILV rewards there is currently.
I mean, how many rewards total right now that can either go into ILV or sILV.
Hope this makes sense 🙂 thanks

[gloomy gazelle]

Well one part would be the double exposure to ETH/ILV and the trading fees. and not needing to lock in for 2x weight again

[stray eagle]

I see the APY pool is going down, does this mean the 550% is not the whole year?

[wind walrus]

Correct

[manic spindle]

APY is dynamic. Total yield farm rewards drop by 3% every two weeks and if more volume is staked within a pool the APY is dropped too 🙂

[stray eagle]

Was too good to be always 😂

[manic spindle]

https://gfycat.com/scalyzigzagazurevasesponge

[stray eagle]

So it will drop 3% * 26 in the time period of 52 weeks and also lower as more people stake

[manic spindle]

It's always 3% less from the previous two weeks. And then it also goes down with more being staked in a pool, yes 🙂

Also, when a flash pool is live it takes 2% of the total rewards lowering core pool APY slightly too

[gloomy gazelle]

This shows the trend of the 3% reduction of reward distributions

[stray eagle]

Difficult to understand all, but could we be speaking in half the stak period of loosing arround 200% APY?

[wind walrus]

I think a rough figure would be about 225% this time next year.

[stray eagle]

Still a good ammount of rewards until you get to it

[clear cape]

I think it's subjected to get lower than that, also depends on the amount of people coming in and staking

[exotic igloo]

No plan yet.

[clear cape]

By then ILV will be on a few of the mains CEX's, no ?

Unless we still need SLP to be there, then yeah we would need a plan

[untold lantern]

Hi for the v2 staking soon what will be the fees that we are going to pay from v1 transferring to v2 staked?

[mint cave]

very, very likely ILV would be on some big centralized exchanges within 3 years

but in terms of DEX liquidity, we could provide incentive for LPs(using the unsold IDO tokens, part of treasury revdis, some NFT drops...who knows!)

or we could have the treasury provide liquidity with some of its normal funds, or with those unsold IDO tokens which is around 350k tokens(if we did not already do something with them)

i think it's very important to keep the DEX liquidity alive as it is the best place for the revdis buys to happen. CEX revdis buys would be additional work AND with the added risk of clearing out order books which is...bad to say the least.

any resolution would need a passed proposal of course

[clear cape]

A market order buy on a cex simply cannot be optimal, you are completely right in that regard

[short turret]

I feel like I have read it somewhere before, and based on a few messages above I think it might have already been answered, but is it correct to say that if you lock for 52 weeks, therefore getting the 2x weighting/the APY listed on the website, once your vesting is over and you are able to withdraw your funds, if you leave it in the SLP then you will continue to keep that 2x weighting WITH the ability to withdraw whenever you would like?

[next ruin]

Correct. Whatever you lock in is what you get until you withdraw.

[quiet hatch]

Thanks this is great to know, the power of the DAO 🤝

Gives me more confidence in committing to provide liquidity longer term knowing this :)! As I was also under the impression that even after CEX listings, keeping the liquidity alive on DEX should be important!

[quiet hatch]

Just to double check, when I claim yield from SLP, do the claimed ILV tokens go into the ILV pool?

And do I then need to be claiming rewards on those too?

[next ruin]

Yes. If you have SLP staked and claim ILV, those rewards will go into the ILV-only pool at the same token weight as your original stake and start accruing rewards as well. Both pools will accrue rewards separately, but any interaction with the smart contract will force claiming pending rewards from both (at least that is the case pre-staking V2).

[quiet hatch]

Ahhhh nice! Let's go V2 😁

[gleaming brook]

I am 50:50 into ILV and Sushi LP pool. Sort of regretted it… should have gone all in to Sushi LP 😅. NFA

[gleaming brook]

Can you share why is it not optimal on a CEX? Thanks

[wheat kestrel]

There ain’t a ton of liquidity on the CEXs. If you make an order of even modest size, you’re going to see quite a bit of slippage.

[fast stump]

so to go into the sushi lp pool for example if i had 10 ilv i would need the equal amount in eth to enter this pool?

or do you just put your 10 ilv in and it splits it equally?

[clear cape]

this.

[fast stump]

thanks

[gleaming brook]

Thank you. Wouldn’t the liquidity improve once all ILV tokens are in circulation? I always assume CEX is efficient… still learning

[wheat kestrel]

that's very likely

[glacial rock]

I asked this once but haven’t gotten an answer yet. I staked some ILVs and it feels great seeing it is incurring rewards. But I don’t see staked ILVs in my wallet anymore. (I guess it’s because I deposited it to illuvium stake page?)
Is there any kind of certificate I keep to prove that I own the amount of staked ILVs? What if the website goes down?
I am still new to the crypto and hopefully I get the answers to my questions!

[gloomy gazelle]

you can use a service called zapper.fi

[fringe linden]

We love the Zapper dapp! Zerion is great too I’m not 100% sure if ILV staking shows, definitely worth checking

[glacial rock]

Thank you, I will check it out. Is anyone using it for this?

[gloomy gazelle]

I actually just connected my wallet. It works

[glacial rock]

Oh, awesome!

[orchid thunder]

hi there, which platform to stake ILV?

[cyan rampart]

!staking You'll want to use the Illuvium website!

[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

[clear cape]

anyone know y the fee so much for me

[fluid sphinx]

it is just a heavy gas fee

[clear cape]

I thought at this gwei it shouldnt be that high, right?

[fluid sphinx]

nah it not ridicoulsy high

[fluid sphinx]

for the past week it was up at 100 and i seen it go to 1600

[clear cape]

At 60 gwei ?

[fluid sphinx]

the gwei was 100

[floral widget]

Wait for 40ish gwei I think might be possible as it reach that amount daily for the past few days

[clear cape]

I already confirmed for the part of slp claim so im stuck in limbo for the second one 😦

[open steeple]

I think the fisrt is the ilv claim and second one its the slp claim, not sure

[clear cape]

Yeah i meant my gas fees already went so i dont wanna exit it

[storm wolf]

how come to do sushi swap and convert to slp why is the eth fee so high like .98?

[storm wolf]

when you do the sushi lp pool why do you have to pay such a high eth gas fee almost .98. is that a typo or mistake? how can i get rid of this

[swift spindle]

Wait until the gas fees are lower

[storm wolf]

when you do the sushi swap lp shouldyour metamask have no eth in it?

[swift spindle]

No you need ETH to pay gas fees

@storm wolf make sure that when you create the LP tokens you don't use all of your ETH for that reason. You'll need more ETH to pay for the transaction and then more to stake it

[wheat venture]

Pretty sure my imx tokens from airdrop are going straight into ilv staking pool when i get them lol

Hopefully before land sale

[brisk surge]

we are getting rev dis from land sale right?

[storm wolf]

thanks just found this out so i gotta get more eth. and i don't want to swap the ilv back to eth otherwise the gas fees arhghghgh

[swift spindle]

Would definitely recommend following the guides pinned here before just jumping into it on your own

[magic ledge]

Why is ilv staking so good. I feel like selling everything and just stake ilv

[next ruin]

https://tenor.com/view/rave-rave-girls-took-too-much-autobattler-rpg-gif-22413111

[magic ledge]

Man tell me about it

[calm meadow]

Hey guys, I'm going thru the whitepaper & looking for unlock periods of distributed tokens. I see this graph, but can't tell when Team, Seed & Presale tokens unlock (I can't tell what the 0, 20, 40 etc) stand for or the date / reference point of the 0

[magic ledge]

Best investment ever.

[calm meadow]

https://docs.illuvium.io/whitepaper/tokenomics

[next ruin]

Upper mgmt extended their lock period since that was written - this one's updated and a little more clear. https://cdn.discordapp.com/attachments/869632853598699611/887753690260336680/image0.png

[magic ledge]

When land sale, take my money already

[calm meadow]

awesome, TY!

[next ruin]

That unlocking start point is in March next year, just fyi. Don't recall the exact date tbh.

[calm meadow]

Can you explain why this shows a starting balance of 2,500,000 tokens but the circulating supply is only 634,000?

[magic ledge]

I was reading about it but couldn't believe it. Can someone please confirm that all the in-game revenue will go to ILV holders who staked?

[next ruin]

Treasury is holding 1.9M. Only the "LaunchPad" is truly circulating. Treasury will continue to hold a significant number of tokens to maintain all operations as all revenue is distributed to staked tokens.

[next ruin]

https://tenor.com/view/pointing-that-is-correct-thats-right-good-job-way-to-go-gif-18723702

[magic ledge]

https://c.tenor.com/4w1nHvbIRxEAAAAM/fud-nakamoto.gif

[next ruin]

All Revenue generated by DAO projects will go towards buying back ILV on the market which will then ALL be distributed back to staked ILV tokens.

[magic ledge]

Please don't, it is getting better and better. I just can't. The only thing now not in ILv is my stupid depreciating car. Might need to get rid of it too

[next ruin]

I would https://tenor.com/view/not-a-financial-advisor-not-financial-advisor-im-gif-20648572

[magic ledge]

Hahahah

[somber dirge]

Do you know if all stakers get equal weighting for the distributions? or is it weighted for longer lockup?

[next ruin]

Token weight from locking your stake applies to RevDis as well.

[magic ledge]

Not again man. I believe in it too much that I am all locked at max even in LP

[next ruin]

https://tenor.com/view/archer-sterling-archer-my-penis-can-only-get-so-erect-penis-dick-gif-5428707

[magic ledge]

https://c.tenor.com/GT3PTr0p_ycAAAAM/vladimir-putin-wink.gif

[somber dirge]

So we can expect the weighting to be in the same proportion as the lockup rates. So 52 week lockup is about 3x instant unstake?

[calm meadow]

Is the Sushi LP been going all this time, or is it going to go away soon / flash pool?

[somber dirge]

Its a tough call how to allocate investments. We have staking, LPs, and Land.

[next ruin]

I believe max token weight is 2x for a full lock up

[gleaming brook]

Gas for Sushi LP is much higher about 2 to 2.5x. Monitor gas price to get best prices. My understanding is due to the Sushi LP contract being more complex vs ILV pool

[next ruin]

SLP pool will be up for the full length of YF rewards, so almost three years from now

[brisk surge]

dang 2.5x higher than regular ILV?

[magic ledge]

There goes the bloody stupid car

[gleaming brook]

See my edited response

[next ruin]

https://tenor.com/view/you-made-a-wise-choice-my-friend-you-made-a-wise-choice-wise-choice-good-choice-better-choice-gif-12769730

[magic ledge]

Haha

[brisk surge]

ah okay

[upbeat portal]

i have an error message when staking. someone can dm me please ?

[brisk surge]

you have enough eth for gas?

[upbeat portal]

yes

[brisk surge]

okay dm me Ill see if i can help you out

[calm meadow]

Interesting - is there anywhere that talks about the emission rate? I understand the ILV will go down if more people enter the pool, but wondering about the distribution otherwise ... also are the ILV earned from liquidity mining locked for 52 weeks like the staking?

[next ruin]

Here's how the rewards are paced out - it's 80/20 SLP vs ILV only pool. Rewards from both pools are locked for a year from time of claim.

[somber dirge]

Outch.. I was thinking to join the LP. Whats are the fees looking like in $ ?

[calm meadow]

is the 0, 20, 40 etc months?

[next ruin]

Fortnight, so every two weeks. That's taken from here: https://medium.com/illuvium/9-tokenomics-launchpad-and-reward-details-5894c3b356be

[gleaming brook]

I managed to it when the gas was low at the 30s. Paid about $50. I was looking at the Gas site every 15mins or less 😂

[upbeat portal]

any admin that can help me here ? i have probleme with my staking

[cyan rampart]

Unless it's super personal, I recommend just asking any questions here!

Odds are someone else can be helped by answering your questions 😄

[steady trellis]

2 weeks

[calm meadow]

"All tokens except those bought in the BLBP and In-Game Yield are subject to a 12 month lockup period and then are linearly unlocked over an additional 12 months." - ah so rewards not only locked for 12 months (if not claiming sILV) but also unlock over 12 month span

[upbeat portal]

When i stake i get the message: unable to claim interface

[calm meadow]

Has anyone discussed anywhere if sILV will be pegged to ILV in game, what's to stop people who have staked & claim sILV from selling them at the same price as ILV where token holders are locked for 12 months then 12 month unlock?

[cyan rampart]

sILV is pegged to ILV in game.

[wind walrus]

There are a lot of TX to do before you can stake SLP. Plan for 300-400 for all TX

[cyan rampart]

Nothing stops people from claiming sILV and selling it, in fact, people already are. But ILV has a LOT of utility that sILV does not have, so on secondary markets it's been selling for about 1/2 of ILV's price, and will likely never reach parity on secondary markets.

[cyan rampart]

You're trying to stake the ILV Core Pool or SLP?

[wind walrus]

There is a liquidity pool for silv. It sells for about 60-70% lower than ILV because you can't stake or get RevDis from silv

[calm meadow]

Interesting - yeah it just hit me that you won't be able to stake sILV so for that period it's not going to be valued the same OTC but will in game, this kindof explains why they would use Eth in game currency

Governance is the other thing - is there anything else I'm missing? Ahhh yes Rev Dis + the staking, makes sense.

[cyan rampart]

Yup, also at some point, sILV will basically go extinct - It's only given as a reward during yield farm (staking and potentially in-game rewards), so ETH is pretty required.

[calm meadow]

Will gamers be able to use sILV for anything in game they can use eth for? I'm just trying to think thru this ... if they could, while the financial reason would be there not to have ILV move to staking sILV, the incentive might be there for gamers to buy otc at a 30% discount.

[cyan rampart]

sILV can't be used to trade with other players, as there is no guarantee other players will want your sILV.

[gleaming brook]

Just for clarity - Gas is needed when 1. Swap ETH for ILV 2. Exchange ETH/ILV for SLP 3. Staking the SLP. The $ mentioned only for step 3

[calm meadow]

Actually no that doesn't matter either because the sILV just gets re-distributed to the stakers as ILV.

[wind walrus]

Silv is burned once it is used. For every silv used and destroyed an ILV Token won't get minted.

[next ruin]

sILV can be used to pay for anything you buy from the Game/DAO. You need Eth to trade with other players. The idea is that the sILV is a one-time thing so it doesn't stay in circulation.

[cyan rampart]

sILV is burned, like @wind walrus said. The benefits of it to the token price are frontloaded, so it reduces max supply when minted, but doesn't provide any benefit when burned (that supply is already used up) if that makes sense.

[calm meadow]

Yep, would be the same mechanism as redistribution, dilutes existing supply same amount. (Except bypasses the 24 month lockup of reward tokens)

[wind walrus]

Between 100-200 depending on gwei

[shrewd river]

I've done some tests using 2 wallets: Wallet 1 with only single stake and Wallet 2 with single stake and LP. I have found that it's about 5x more expensive when pulling from Wallet 2.

[floral widget]

You can , the silv secondary market is accessible via uniswap/sushi , it goes for half the price of ilv but for those who need some liquidity or bought at $60 , it is a good way to deleverage without tie in

Just search for the silv contract, the number can be gotten by using the function !contract in the robot channel

[gleaming brook]

😓 I did not add up the costs… I was just comparing staking in ILV pool vs SLP pool, not all the prior Gas costs that you need to incur before you can stake. Looking forward to Staking V2 😅

[rancid acorn]

When does V2 come out and how will it impact gas costs?

[iron pebble]

Nobody knows and nobody knows, really.

Wait, you're talking about eth 2.0 right? If so, should be early/mid 2022 but who knows.

[floral widget]

Ya eth 2.0 will be about 10000x bigger than illuvium …can just read crypto news will be announced when it is ready

[sonic wolf]

I thought merge is end of this year?

[iron pebble]

I mean... yeah, supposedly. Just like it was supposed to be out already haha

Oh sorry, just realized this is staking channel. Don't hit me

[gloomy gazelle]

Except what you were commenting on “V2” is the new potential IIP pinned in #809220563397902346

New staking protocol

[iron pebble]

Oh, right. Forgot about that. But does it have a date already?

[sonic wolf]

whaaaaaaaaaaaaaat?

[gloomy gazelle]

No. Isn’t even voted. But the timeline is something like 8weeks I think.

It looks tasty nice

[sonic wolf]

i spend time away from discord and already missing out on shit

[iron pebble]

Yeah, that's why immediately went for 2.0 since we were talking about gas fees. My b

[storm wolf]

is there an nft contest for ilv?

[sweet garden]

hey guys, who certified the staking in illuvium?

[gloomy gazelle]

The audit was by quantstamp.

If that’s what you mean.

[gloomy gazelle]

There usually is something going on yeah. By being a discord member you can qualify. Just keep an eye on #📣〕announcements

[sweet garden]

certik not? Appreciate much your help!

[gloomy gazelle]

https://certificate.quantstamp.com/full/illuvium-yield-farming-rewards

I don’t know where the original one is. Probably in #📰〕governance-news or something.

[gloomy gazelle]

The audit info is on the staking page.

[modern comet]

@manic spindle sorry if i'm asking stupid question because i really don't understand with #governence discussion and there i can't send photo, i want to ask 1. how to migrate from v1 to v2 ?
2nd question I have 3 types of staking in ilv, locked ILV, locked SLP and flexible SLP, can you help me explain in more detail? when should I migrate and how?

[gloomy gazelle]

This is the one you want. #🥩〕staking message

@fickle gull ⬆️

[quick flare]

the price is up but APY is still dropping, guess we'll never see the above 600% APY again 🥲

[elder dawn]

Apy is deceptive anyway. It's all about earning ILV. Higher prices will come with success.

[dusky eagle]

Hi, is it possibile to stake the amount gradually? 1 ILV today, 2 next month…

[sinful swallow]

Any on had really slow rewards build up after collecting them?

I collected at the end of the XYZ pool and have got 0.01 ILV as rewards in 3 days. Only have 1.2 staked but that is a lot slower than it was the last month

[gloomy gazelle]

It’s possible. But not advisable. Stake in bigger batches is more cost efficient.

[gloomy gazelle]

The apy in the ILV only pool is lower than it was.

[shell tartan]

hi everyone! im very new to this and would like to ask probably a very basic staking question. I'm currently having an issue whereby im unable to view my ILV balance in the SLP pool. It's fine onthe ILV pool, but the balance when in SLP is stated as 0. is there anything i should be doing?

[gloomy gazelle]

Where are you viewing this info?

[shell tartan]

on the illuvium staking site

[gloomy gazelle]

Have you looked in the vesting tab?

[shell tartan]

i have not staked my ILV yet, when i try to stake it on the SLP core pool, the balance is 0

[gloomy gazelle]

Ok. You can’t do it that way.

!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

[gloomy gazelle]

!staking

[woven ibex]

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

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

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

[gloomy gazelle]

You may benefit from watching the second half of this video. https://www.youtube.com/watch?v=C6YugU4zZr4&t=1s

[shell tartan]

ahh.. alright! this makes sense. let me try it out. thank you! i'll come back if i face further issues

[gloomy gazelle]

I’m going to sleep. But someone is usually around and helpful. Good luck. Welcome to ILLUVIUM

[lyric folio]

Hi guys, where can I see the value of 1 SLP (for portfolio tracking purposes)

[shell tartan]

Thanks @gloomy gazelle

[mint cave]

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

you can see it on apy.vision as well iirc

[lyric folio]

Thanks mate!

[iron kindle]

Please, can you check it? I am really worry about it, I lost 2 eth transactions for nothing.

[outer garden]

Hello team, I've found plenty of resources on staking SLP, but I'm struggling to figure out how the SLP price is calculated, what is the formula? I can see it's currently $2920 https://app.zerion.io/invest/asset/SLP-0x6a091a3406e0073c3cd6340122143009adac0eda . Thank you in advance!

[rancid acorn]

So I bought ILV. And now I would like to stake it. Current gas fee is like 80 USD. Is that normal?

[gleaming brook]

Yup… just wait for weekend as it usually trend lower

[manic spindle]

For now, you cannot migrate at all, yet. First, a proposal needs to be submitted for voting, then it needs to pass and then the team needs to develop all the changes and new features. Your locked deposits will continue to gain rewards though when staking v2 would be live and then, when they unlock, you would have to migrate them to keep gaining rewards. Also, as it says in the draft from Aaron: "A detailed migration document will be created that will guide token holders and make the entire migration process as painless as possible" 🙂

[still kindle]

Staking V2 is a tremendous step forward. I also love how the proposal gives early V1 adopters a better rate versus new entrants

That said, I also like how new entrants can potentially come in with much smaller stakes, as fees will be much lower. Thats a good thing to increase staking participation

[quiet hatch]

Hey

Where can I see the date of the next staking yield handout?

And also how can I see some stats on the SLP pool, e.g. fees from liquidity providing etc.?

[wicked goblet]

I staked ILV with a weight of 1. How can I increase it to weight of 2?

[crystal dagger]

For the ILV that you earn from the sushi pool, when locked for a year, does it earn yields from the ILV pool or the sushi pool?

[quiet hatch]

When you claim ILV from the sushi pool, it goes into the ILV-only pool and earns yield there.

[crystal dagger]

Once the game is live, I'm assuming this locked ILV will also earn game revenue from illuviDEX?

[fluid sphinx]

What is illuviDEX

[quiet hatch]

Yep, at whatever token weight your original stake is at 💪

[fluid sphinx]

Wat is illuviDEX

[mint cave]

it will be the illuvium marketplace on IMX where you can sell your illuvials and items and such

[surreal sierra]

I keep trying to stake from metamask on ilv site but on top right i get swirling icon where it says my account

Its been doing that for like 5 mins

[junior shuttle]

Is there another window that comes up?

[floral widget]

Under lock pool and move it to 52 weeks

[wicked goblet]

I have already staked at weight of 1. It is not a fresh stake. I have staked couple of weeks back. Is it possible to change the weight now? Or do i have to withdraw and staking it again at weight of 2. Lot of gas fees if I have to withdraw and stake it again

[surreal sierra]

I accept it in with fees in metamask but then it keeps swirling

[oblique raft]

I hope ilv will go to the moon

[surreal sierra]

I just checked and ive got transaction in the queue for swapping eth for ilv but looks like a duplicate of my 1st transaction do you think that makes a difference? New to metamask

[stray eagle]

Yet with not loosing value i'll be happy enough

Staking rewards are huge

[tough oracle]

Hi guys, can anyone tell me how much they paid in gas fees to stake their ILV? It's currently telling me i'll have to pay about $75 in fees, is that normal?

[lament topaz]

Unfortunately that's pretty normal at this point

[tough oracle]

Is there any way to get cheaper fees, or am I just going to have to wait until network congestion is lower

[lament topaz]

You've got it - Wait till congestion fees are lower and batch the transactions into 1 transaction. So rather than invest 2 ILV once and then coming in a day later and staking another 3ILV. You should just wait and stake 5ILV (Unless you think the price is gonna rocket upwards)

[tough oracle]

Ok thanks for your help, gas fees are so ridiculous

[dense sable]

why i cannot set my own gasfee for staking via metamask? its always make some error on illuvium website. its it normal?

[cunning perch]

You should be able to set gas + limit before confirming the TX. If that doesn't happen, make sure you have updated your browser. Maybe there is a problem with taht

[clever swan]

I keep reading bits here and there about stake v2. Do I need to think about this now or its something later?

[cunning perch]

you can find it here #809220563397902346 message

[stuck cloud]

If I claim my staking rewards in sILV does that then get compounded for more staking rewards?

[cunning perch]

sILV will never be compounded as it is released to your wallet to be used in game/land sale

[vast bramble]

The APY of the Sushi LP is currently 554%
Could someone give an example on this? What will happen to my money after one year if I stake e.g. 1 ETH and 1 ILV pair into this pool?

[storm wolf]

so if you are in the sushi lp pool and you earn ILV, does the ILV you claim get reinvested automatically? or it ends up in your eth wallet?

[chilly solar]

is there any place i can read about the illuvium staking apy decreasing over time?

[cunning perch]

Not 1 ETH and 1 ILV. you have to add (for example) $10 ETH + $10 ILV. ALso the APY changes. there are calculators in the pinned messages that can help you with your question

[cunning perch]

you have to claim your rewards for them to start their one-year vesting (locked for one year, otherwise they will be sitting there idle. I also suggest reading about Staking V2 in pinned messages in #809220563397902346

[manic spindle]

!read You can find the 3% fortnightly decrease of yield farm rewards mentioned in these sources, more accurately the #9 blog article 🙂

[woven ibex]

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

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

[brisk surge]

Is there a max amount of ILV you can stake per day/week or month? I staked 5ILV yesterday and looking to stake anoth 5 today. I keep encountering a message ... "transfer allowance exceeds limit" - im looking at locking them up for 12 months and use a Metamask 3.0 wallet. Anyone else encountered this?

[quiet hatch]

Where can I see the date of the next staking yield distribution?

And also how can I see some statistics on the SLP pool, e.g. the fees from liquidity providing etc. :)?

[woven reef]

i have read somewhere that there will be some sort of migration from v1 to v2 how does that affect people who have staked some ILV for 1 year ?

[manic spindle]

You can find detailed information about that here: #809220563397902346 message 🙂

[hollow kelp]

https://staking.illuvium.io/staking/core has APY stats. When staking SLP in the cores, you dont get fees for liquidity just the ILV equivalent to the APY.

[quiet hatch]

Ah right, what about the ILV/ETH that's in the liquidity pool? Where do the fees for liquidity providing go? (sorry I've not got into LP yield farming before this).

[hollow kelp]

All good, in the process of speed learning myself too 🙂 When you provide liquidity to ILV/ETH on sushi, you get the pair's SLP tokens. If you hold those tokens in your metamask (or equivalent) you are "technically" still providing liquidity (in the eyes of sushi) and would get trading fees return and get X sushi/day. However, once you stake in Illuvium, the SLP goes out of the metamask (or equivalent) wallet to the site and, if you try to see/remove liquidity on Sushi, you will see you no longer have liquidity.

[quiet hatch]

Ooooh dude thank you, that's so helpful!

Yeah I've been doing a crash course of impermanent loss and then trying to figure out 'reasonable' potential targets for ETH and ILV (I'm assuming ILV could rocket in price up to March 2020 with 600k supply, but after that I think it could come back into closer alignment relative to ETH, so I'm hoping that the long term impermanent loss shouldn't be too bad, but I'm still working out the actual math ^^).

E.g. it could do a 10x to 4-5B market cap and be around rank 40k with AXS. But once supply is closer to 9-10M, if market cap stays the same the token price would have to reduce back down to $500-600. I imagine the market cap can continue to grow, but I still think that the token price has to end up reducing lol).

[quiet hatch]

So you could keep the SLP token on SushiSwap after adding your ETH/ILV to the pool (and collect the liquidity provider fees).

But if you want the Illuvium core yield, you have to move it out of the SushiSwap contract/wallet and into the Illuvium core pool (to get the ILV yield instead)?

[wheat grotto]

If I’m transferring ETH from coinbase to MetaMask do I have to be aware of gas fees or is it just the coinbase standard fee? Didn’t even think of this last time I moved ETH

[outer garden]

Still trying to fully understand why the SLP price itself is now at $2893.. If ILV was at $75 when the pool was originally set what would ETH have been? Perhaps I can solve from there. Good conversation on this so far thank you! @elder dawn @pure eagle

[quiet hatch]

Yeah just coinbase's fee for withdrawal.

[wheat grotto]

Thank you 🙏🏼

[hollow kelp]

correctos

[hollow kelp]

SLP pricing is dynamic (based on ETH/ILV distribution in the LP). The process I see is: recent rise in ILV -> ETH dominance in LP increases -> relative price increases

[quiet hatch]

Do you know how the SLP price relates to getting your original stake back?

In terms of yield, am I right in thinking that the SLP price is what your yield rewards are based on too?

Like if I put 1k ETH and 1K ILV in now, I'd have 2k worth of SLP?

[hollow kelp]

You would get 2k worth of SLP at the price of transaction; yes. The SLP price is somewhat independent to your original stake to the extent of it represents your portion of the LP. So, say you purchased in with 10% LP value, where ETH/ILV was 50/50, then you would supply at that rate. One year later you want to exit, and the ratio is 49/51, since the SLP is tied to 10% of the pool, you would get 4.9% ETH / 5.1% ILV

[quiet hatch]

Digesting... 😆

Oh okay, so the value of SLP doesn't have an affect on when I get my original stake back.

So for example,

• If I put 1 ETH and 10 ILV into the pool
• And 12 months time, the pool is still 50:50 [no impermeant loss] (because ETH and ILV moved perfectly in sync and both did +100% or -50% etc.)
• I will get 1 ETH and 10 ILV out

Or any other ratio, depending on how their prices move relative to each other?

[quiet hatch]

So is then is the price of SLP used to calculate the ILV yield?

E.g.

• I input $2000 worth of ETH/ILV into the pool
• I receive 1 SLP (if the current price of SLP was $2000)
• My ILV yield is calculated on some function of the amount of SLP I own * price of SLP ?

Or is the price of SLP mostly irrelevant, other than perhaps trading it 🤔

(Sorry for all these probably very stupid questions lol, this is the last part of the puzzle for me and my understanding hah)

[hollow kelp]

yeps, thats my understanding. Ratio put in = ratio put out and, if the token pair moves together (which is very rare in crypto anyways) then impermanent loss is minimal. Your $ value on your ILV yield is dependent on the SLP price (if SLP price goes up, potentially due to ILV price going up, your $ / day goes up; amount of ILV tokens gained / day stays consistent assuming constant APY). From what I've seen with my testing, there is a direct correlation of ILV $ yield to SLP holdings.

[quiet hatch]

Ah okay... so essentially SLP price can be ignored (unless you wanted to trade it I guess).

Along the lines of:

• You receive $ILV rewards in proportion to your original $ value staked into the LP pool is (relative to everyone else)
• So ILV generation is a function of your stake relative to the amount staked in the pool / the current APY

So SLP price isn't factored into the yield generation equation, but from your testing, there seems to be a correlation of ILV $ value and $SLP value.

[hollow kelp]

The only correlation exists due to the price rise but yes, theoretically that should be the case. Given that the ILV produced would be fairly consistent (given the total volume of the core ILV/ETH pool doesnt change too much), would make sense that the $ value of APY rewards is pegged to the ILV price

[elder dawn]

Check out my blog (publish0x.com/ilvfi) as I cover a lot of this discussion in depth. In short, apy is deceptive, and what I really care about is daily reward ILV. The equations to calculate are in various posts, but if you want the answer, here's a sheet where I track daily ILV per SLP. https://docs.google.com/spreadsheets/d/1Pm6b54YRTjdv6cDmWwudyejk2aA8XSEB5CgzKWe1N20/edit?usp=drivesdk

[quiet hatch]

Deraji! I'm currently reading all of your articles from start to finish ha! But I guess I didn't quite get far enough yet, but they have been extremely helpful, so thank you!

I'm trying to finish them all from oldest to newest as fast as possible haha

[elder dawn]

You can determine most everything without caring about SLP price. Slp is really important for tracking pool growth and it includes the swap fees for sushi, but if you just want your expected return, take the current value of your investment times current apy, and divide by 365 x current ILV price. That's your number of rewards you expect today

[quiet hatch]

Actually I wanted to ask about that daily earn per token of "0.08112" ... 1/0.08112=12.3274162 does that mean for each 1 staked SLP token it takes ~12.3 days to generate 1 ILV (at current rates)?

How would I derive the "current value of my investment"?
Just the (current value of the amount of ETH + ILV staked) * token weighting?

[elder dawn]

Yes, that's exactly what it means. That's at 2x pool weight. Current value of investment is on your Illuvium dashboard, or you can use zapper.fi to see the value of each part of your yield farming

Just go to dashboard and under your number of SLP is a $ value.

[quiet hatch]

Peeeerfefct, thanks man that really helps a lot! I had actually read that particular article, but it didn't quite sink in until you reiterated it here 😆 🧠

[quiet hatch]

Does that $ value already factor in the token weight?

[elder dawn]

The $ value doesnt, but your apy does.

[quiet hatch]

Ah of course 😁
So (dashboard SLP $ value * current APY)/(365 * current ILV price) => expected reward for today

I'll go back to reading your articles now, I think it is all going to make a lot more sense suddenly. Thanks a lot for your help 💪!

[hollow kelp]

(dashboard SLP $ value * current APY)/(365) * current ILV price ~ Slight correction xD

[elder dawn]

Steve has it correct. You just need to divide by current ILV price. Without that, you have $ of ILV rewards expected today. Your number should show close to the 0.08 ilv per SLP (at 2x weight)

[quiet hatch]

Awesome, thanks to both of you 😁
I have some reading and calculations to do 🤓

[hollow kelp]

Oh yea, mb. He is calculating the ILV rewards not $ 🥴

[craggy field]

Succesfully staked some! Whoo that took me 1.5 weeks and spamming @cunning perch like my life depended on it! (cuz so many things went wrong LOL) Thanks again! Rep +1 😛

[cunning perch]

https://tenor.com/view/all-for-one-all-for-one-and-one-for-all-knight-sword-team-gif-13415393

[vivid timber]

So if my goal is to get as many ilv as possible, staking in the sushi pool is a ~8x better investment than staking in the ilp pool, right? (~0.08 ÷ ~0.02) / (~2500 ÷ ~ 500)

That is, if ilv price does not explode relative to eth price, which would result in me getting less ilp back from the sushi liquidity pool than i originally provided.

[elder dawn]

you are correct. right now, the rewards are higher for the SLP compared to the ILV pool. As you said, risk is higher as well, particularly impermanent loss, but also fees are higher, so depending on how much you want to stake, gas costs will also be more significant. Vetemore put together a cost estimator, which is pinned on this channel

[trail remnant]

there anywhere i can see how many coins left to distribute before game launch?

cause its 3.000.000 for yield farming right? but how much of that has already passed?

[cunning perch]

!read you can find all info you need here

[woven ibex]

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

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

[trail remnant]

i read through it all , and there is not an specific answer to my question, exactly why i am asking

[cunning perch]

Then maybe this can help you #💰〕token message

[trail remnant]

thats actually perfect thanks

[cunning perch]

No worries 🙂

[quaint ferry]

newbie to staking , i can afford 2 ILV , is it worth staking ? what would be the profit in a month , sorry for the noob quest , just gauging the waters

[cunning perch]

Hey. No one can really tell you what is a good investment as for everyone investment budget is different as are the plans. You can find very helpful calculatiors in pinned messages here in this channel.

[quaint ferry]

gotcha , opening pinned messages , thank you.

[cyan rampart]

At current APY (70%) you'd generate 1.4 ILV in a year. That's something like .11 ILV per month staked in the Core Pool.

[quaint ferry]

dang that calculator is scary lol

[cyan rampart]

APY drops over time though, so it's up to you!

[quaint ferry]

and i get to purchase shards or other in game stuff from my staking rewards ?

[cunning perch]

you can purchase in-game stuff with ETH and/or sILV.

[quaint ferry]

Thank you again guys , i appreciate it .

imma go get some ILV now

[rose phoenix]

what does impermanent loss exactly mean? If Ilv moves up 5x and Eth drops 50% for example, what would happen to the balance I could cash out in 12 months. Is the impermanent loss just changing the Ratio of Ilv and Eth I will get out, or am I actually losing real money in Usd because of this. Didnt quite get the point through reading about it
I am staking for 12 months fixed in SLP pool

[cyan rampart]

Play with the impermanent loss calculator in the pins if you'd like - I recommend just Googling Impermanent Loss if you'd like to learn more, it's a bit complex and the resources out there are really good (videos and articles)

[next ruin]

https://dailydefi.org/tools/impermanent-loss-calculator/

[rose phoenix]

thank you

ah okay I understand thanks, so basically am only fucked if Eth and Ilv move in completely different directions

so thats a reasonable risk for the huge APY

[next ruin]

My personal stance is that we're early enough in the YF cycle and APY is high enough that I basically completely ignore impermanent loss. That calculation gets harder the later you are getting in.

[elder dawn]

here's my illuvium specific assessment at current yield farming rewards. theres examples of how it works. https://www.publish0x.com/ilvfi/what-the-and-is-impermanent-loss-and-why-do-i-care-part-3-il-xelvyov

[next ruin]

The bigger the difference in their movement, the higher your IL.

[rancid acorn]

I have what I am assuming is a bit of a silly question. Say I have a couple of ILV I would like to stake, but I would also like to have them available when the full game comes out. If I were to stake them for about 20 weeks and get an APR at 48% would I get 48% of my total investment OR would I just get the 48% for the 20 weeks it was staked?

[cyan rampart]

APY is annual percentage yield. So you'd only get the 48% on a portion of the year - at 20 weeks that portion would be about 38%.

So if APY were static at 48%, in a year you'd get 4.8 ILV for every 10 you staked, which works out to about 1.824 ILV in 20 weeks.

Note that APY will tend to drop over time.

[rancid acorn]

Gotcha, so if my calculations are correct if it was static 2 ILV staked for 20 weeks it would roughly come out to .3648 ILV +rewards?

any idea what the rewards look like?

[cyan rampart]

Staking rewards are claimed in ILV or sILV, if that's what you mean.

[rancid acorn]

How much is rewarded for staking if I decided to claim in sILV?

[next ruin]

Qty of sILV and ILV rewarded via staking are the same. sILV value is pegged to ILV for use in-game or for buying land.

[vivid timber]

Awesome, thanks for the confirmation! I love your blog posts and calculators, they are really helpful!

[rancid acorn]

So how often will I need to accept rewards, or will it be after my staking period is finished when I can collect them all?

[manic spindle]

!claim You claim when you want / deem it worth it 🙂

[woven ibex]

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

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

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

[ruby sapphire]

！

[quiet hatch]

How do I work out (in advance) how many SLP tokens I will receive?

e.g. if I invested $1000 ETH and $1000 of ILV?

[rose phoenix]

can only estimate, as the Apy changes with time I think

[elder dawn]

heres the current SLP price - divide your investment amount by this price. Right now, you'll get about 0.7 SLP https://app.zerion.io/invest/asset/SLP-0x6a091a3406e0073c3cd6340122143009adac0eda

[rancid acorn]

Can I use eth to buy land or is it just SILV? Reason I am asking here is because I will need to start staking ILV to collect silv to be ready for the land sale.

[fast crest]

Afaik you can use ETH or SILV

[quiet hatch]

Ah perfect thank you!

[next ruin]

As @fast crest said, either sILV or Eth will be able to be used.

[whole sonnet]

a question if i understood proposal about revdis correctly:
participants in both core pools (ILV andILV/ETH) will get revdis. amount each pool will receive is determined by TVL in that pool? and than those will be distributed based on what your % (taking in account token weight an quantity) in the pool is.

[next ruin]

Sounds like you've got it.

[vivid timber]

What is TVL?

[clear cape]

Total value locked.

[rancid acorn]

So when staking. After the set amount of time I want to lock my ILV, do I have to pay a gas fee for my initial investment to come back to me?
And are my rewards locked for 52 weeks still even if I only choose to stake for a shorter period?

[elder dawn]

yes, and yes. unless you claim rewards as sILV

[rancid acorn]

Will my rewards still compound in that 52 week period or is it just set in stone

[elder dawn]

rewards will earn at the 2x staking weight APY of the ILV pool until you withdraw them. you just can't withdraw them for at least 52 weeks

[rancid acorn]

So just to clarify, even if I don't choose the year long option to stake, my rewards will still have 2x staking weight APY for the 52 weeks?

[elder dawn]

correct

[rancid acorn]

thank you!

[wintry halo]

Gas is super cheap right now 🥲

[plain marsh]

Well, just wait a few seconds and you won't feel as bad... rn it's as high as I've seen it. Just hit 1485 Gwei for a minute !!

[safe wigeon]

If I provide liquidity in SUSHI, and the LP tokens I put in staking in ILLUVIUM, in ILLUVIUM I claim the ILV rewards, but how do I claim the SUSHI rewards for providing liquidity

[ornate cypress]

Same way, in the rewards tab they are listed separately

[safe wigeon]

OK, thanks, on the same ILLUVIUM page? is it done in 1 transaction or is it two separate?

[ornate cypress]

I'm not sure on that one I've yet to claim from both.

[desert bloom]

Can I withdraw my rewards anytime?

[quiet hatch]

Is there somewhere I can view the total ILV being staked :)?

I tried to do the math, but I'm pretty sure I got it wrong lol. But I came out with 899,811.71 ILV currently staked (total of ILV and SLP pool) lol. As I have a feeling I was 1.6M somewhere...

[wide eagle]

yes but if you choose ilv it will sit in vesting locked for the same lock period as the original staking period, if you choose silv you get it immidiatly. just remember the gas fees

[sinful pond]

Here's some great info on ILV and ILV/ETH staking. Credit to @regal marten https://dune.xyz/xastor/Illuvium-Dash

[sinful pond]

For just the amount staked, you can see it on the Illuvium dashboard. https://staking.illuvium.io/staking/core

[quiet hatch]

Ah ha! Thank you (I also just found some of the math I was looking for in Deraji's sheet too so that's helpful :D)

[quiet hatch]

Yeah I used the TLV here and did the math to figure out the amount of ILV staked, but, I don't overly trust myself on those calculations lol

Edit: crosschecked my math with Deraji's sheet, I was close enough 🥳

[quiet hatch]

I'll go dive into this thank you 😁 ❤️

[desert bloom]

Thanks! And sILV is only for in game?

[gloomy gazelle]

I think Alex misunderstood what you meant.

Your Sushi Liquidity Pool tokens have the value gained from the swap fees automatically factored into the pool. Your SLP value includes those fees that you’ve earned. What you don’t get when staking on illuvium is actual $sushi tokens as staking rewards.

[quiet hatch]

Can someone check my math on this lol

Assuming the land sale makes $100M revenue, and the current staked tokens are ~900k

That's $100,000,000/892,834 ILV = $112 in revenue per ILV staked

[sinful pond]

(edited--look at Deraji's response re number of tokens). Also I expect a lot of people will spend sILV on land instead, which will have a more indirect effect on token price (by being burned) rather than be distributed as ILV revenue.

[elder dawn]

Unfortunately, no. I'm working on revdis updates as this is confusing. Realistically there are about 6.5 million tokens that will be eligible. pool weighting makes it more complicated

team, seed, upper management, and treasury tokens are also revdis eligible, so the total amount is much greater. it's not clear from the current publications out there, but this has been confirmed with leadership

my estimates depending on land sale revenue, a safer estimate is between $3-$12 per ILV

[quiet hatch]

Ahhhhhhh okay, so my math was correct, but data was a little misinformed 😂 ! Dang 6.5 million certainly brings that number back into line with what I was expecting to be reasonable RevDis ha.

Ah yeah good point about the sILV @sinful pond !

[paper wind]

This might be naive, but if I type 30000 in the eth/ilv sushiswap ($100M), it seems that ILV price doubles. Isn't that far more impactful than the few percent we'd get from revdist itself? I mean, it will be spread over time, but still...

[elder dawn]

do you mean the impact of the DAO buying $100mm from the sushi pool? Given the limited liquidity right now relative to the size of that purchase, they will need to be strategic and likely spread it out over time to avoid spiking the price. That is actually better for us, as we don't want them to immediately purchase super expensive ILV to distribute. We need the market to maintain equilibrium to get maximum value. The auctions will be a little different than long term revenue/vault purchases because of the large lump sums.

[gloomy gazelle]

I just imagined the team dropping MASSIVE limit order for $100m

[paper wind]

Gotcha. But since the DAO commits to buy ILV on sushi, the market should react either way. Seems like the buyback is supper bullish for the ILV price. But I'm a noob at this, so likely very wrong.

[livid light]

It is also dependent on the cost of the land from my understanding

[gloomy gazelle]

https://tenor.com/view/wayv-wall-dancing-gif-14349870

[livid light]

so if they release a T5 and it sells for 10-12 million then what... an idea they are looking at as well

if the land sale yields $400 million they are talking about slowly releasing the rev dis

to keep from flooding the market and mass sell off

[wide eagle]

i hope V2 staking will be implemented before land sale and it should prevent that, im sure @opal elm has mulled over this and has a balancing strategy

[quiet hatch]

Bullish for the pure-ILV pool, but not so much for SLP stakers (if price gets too far ahead of ETH lol, but I imagine it'll balance out over time too with increased liquidity, and also increased supply bringing the token value down/slowing growth)

[paper wind]

Nah, SLP stakers get more ILV and take a cut from that revdist as sushi fees.

[elder dawn]

that's why rewards are biased towards that pool - offset the risk. If you give folks enough ILV, and that's what runs up in price, IL is less impactful. The worst case for SLP stakers is if ETH runs without ILV (or either crashes)

[livid light]

I locked it up for 12 months and going to use sILV to land purchase, just hope its enough to get it based on cost

[quiet hatch]

Ah yeah of course, you end up with a stack in the pure-ILV pool too! Auto hedging (as long as neither crashes, without the other lol)

[livid light]

another factor we do not know is the actual cost of "in-game" items, upgrades, etc.

[quiet hatch]

Hmmm SLP stakes don't get sushi though do they? Or do those fees somehow get factored into the revdis?

Ahh... I gotta go to sleep 😅 I will continue reading Deraji articles and maybe this is also answered 😄

[elder dawn]

Sushi swap fees are automatically added with each swap, and it just shows up in the SLP price. We don't get sushi for staking since we're staking through Illuvium, not Sushi.

[paper wind]

Aah, gotcha. Thanks.

[quiet hatch]

Ahhh okay!

Argh man. I've been waiting to top up on BTC and ETH. Planning to buy ILV spot at the same time, and lock it up into SLP. But yeah, still sitting sidelines and it's painful 😦. Will have to bite the bullet soon and accept my stink bids aren't getting hit, but we'll see! Eitherway, I'll be heavily invested into the pool soon lol.

[livid light]

I just want to see the land prices if I am going to have enough sILV to get a plot 🙂

[quiet hatch]

Lets get it frens! Right I'm off for real this time 👋

[livid light]

Land in Axie Infinity was at 1 eth tops when released and now is going for $12k+

[glad musk]

I think the popularity of Land in Axie, and the current price in spite of it being on a 0retty heavy downtrend as of late will cause Illuviums land to go for much higher figures.

[livid light]

I know they had stated 0.5 - 2 ETH for Tier One land for possible prices

but that is $2-8k roughly

[surreal sierra]

Since its dutch auction it will depend what people are willing to pay

Might get super hyped after trailer but im hoping 20k land surely a few will go on the cheap 😂

[hot lynx]

Hi everyone do we have the release date for V2

#🥩〕staking

[bronze heart]

is there a place that allows swapping sILV

[next ruin]

IIP is posted at #887631374578757692 - not sure if we've got a hard timeline once the proposal passes.

[hot lynx]

Thank you . Do you know when the proposal is going up for approval

[next ruin]

It's not exactly controversial, so I would imagine very soon. Sounds like Aaron is suggesting implementation around the end of next month-ish... #887631374578757692 message

[hot lynx]

Cool thank you it's exciting

[tulip plank]

Hi How can I get access to I am connected but cannot get the stake button to work

[next ruin]

Dumb question, but you have SLP in the connected wallet?

[tulip plank]

yes and the wallet is connected and somehow ILV website dont pick it up or cannot see in my wallet

[plain marsh]

This screen shot shows a balance of 0 SLP... so maybe the wallet didn't connect, or you maybe have ILV instead of SLP?

[tulip plank]

Yes you are right I have ILVs

[hot lynx]

step 1 is create SLP in sushi right and then stake that in the LP at the ILV site right

[tulip plank]

yes makes sense 🙂

[plain marsh]

So you can stake in the ILV Core pool, but you would need to add ETH and ILV (via Sushi) in order to then get some SLP, and stake in the Sushi LP Pool.

[next ruin]

Might be helpful #🥩〕staking message

[gloomy gazelle]

!lp

[woven ibex]

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

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

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

[hexed meadow]

hey guys, when you stake ILV in the ILV Core pools. And you claim your rewards, the rewards get staked for a year earning you more ILV. What about if you claim sILV? Do they earn you ILV or they just sit there ready to be used in game?

[vague thistle]

Just sit there

[storm wolf]

when you stake in the sushi lp pool if why does the gas fee cost so much?

also if ilv goes to 2000 per coin in 2022 and eth doesn't move as much will that be bad for sushi lp people?

[ripe steppe]

sushi lp people by that time will have earned in rewards way more $ worth of ILV than their original SLP value, so some imperminent loss may be incurred but imo its negligible compared to the gains in rewards (high APY off-sets the risks involved in SLP staking big time)

[wide eagle]

glad to see you around👍

[ripe steppe]

been busy working lol, back on that day job lifestyle lol

[storm wolf]

thanks for that! yes getting 500 percent apy is amazing. can i ask why the eth gas fee is over 150 dollars when you try to do sushi lp ?

[ripe steppe]

because the transactions involved in staking are more complex than just an ordinary transaction of sending ETH from one address to another, also to stake SLP, you need to buy ILV (1 transaction), then put ILV and ETH into the Liquidity Pool for SLP (2nd transaction) then stake that SLP into Illuvium.io (3rd Transaction) (in the pinned messages on this chat theres a calculator for calculating the costs of every type of transaction within Illuvium currently that i made, will help)

[storm wolf]

when you are about to stake the slp it prompts you to claim your ilv. if you click on stake with the gas fee you pay be 1 fee for both the claiming of the ilv and the slv staking? i saw that if i were to claim the ilv the eth gas fee is so expensive and wipes out the ilv that i received.

[ripe steppe]

because u have already staked there will be 2 transaction when staking again, they happen automatically when u stake again but they are 2 seperate ones with seperate costs, does not wipe out your ILV, it just claims it and once it is claimed (as all yield rewards) it will be locked for 12 months in the ILV pool also itself earning rewards

[storm wolf]

ok thanks. it looks like a double eth charge. how do you convert the slv back to ilv and eth?

[ripe steppe]

if you claim ILV, this will be locked and earning interest for 12 months, if you claim sILV this is unlocked immediately but you cannot stake it, can never convert it to ILV again, you can use it in game or for land sales

watch my video on staking this will help you a bunch on all the basics and how it all works https://www.youtube.com/watch?v=7T2WzeXWC4k&t=262s

[storm wolf]

thanks checking video now

[coral tapir]

anybody else getting Error [Object object] when trying to claim SLP/ILV rewards using Metamask?

[ripe steppe]

mobile or computer?

[coral tapir]

computer

should have mentioned, using metamask with a ledger, tried clearing cookies, that didn't work

[coral tapir]

Ok so now it's really broken. If you'd like to DM me so I don't bog down this chat that's fine

[ripe steppe]

i have no experience with the ledger tbh @exotic igloo is the ledger expert around here, hopefully hes around

if not DM him and he'll answer when he is around @coral tapir

[coral tapir]

thanks @ripe steppe I'll DM him

[exotic igloo]

https://tenor.com/view/rambo-run-sprint-fast-gif-16910968

[terse valve]

How much more ILV in % terms would someone who locks up their lp for a year get vs someone who has it unlocked for in game revdistribution?

[hollow kelp]

frankly revdis will become more important once the game grows more. Since release is expected Q1 22, holding for a year would seem to be the better option

[brisk surge]

Nice!

[paper steeple]

this is perfect, thank you ser

[gloomy gazelle]

@bold nexus this is the place to go for staking info and help.

!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

[wheat grotto]

Just to check your UID on gate.io is what I use if I wanna send money from my coinbase wallet?

[gloomy gazelle]

I doubt it.

CEXs provide you with an ethereum network address (0x…) to send to. But I don’t know what process gate uses. Look for deposit or something like that.

[gleaming brook]

Is the APY earned applied on the number of tokens or the dollar value of those tokens? Thank you

[gloomy gazelle]

The ILV only pool is ILV for ILV so it’s the same APY if it’s dollars or tokens.

[hollow kelp]

What pelican said, and the SLP core pool is based on dollar value of SLP (and the equivalent ILV)

[gleaming brook]

So simplistically, if SLP is $2500, it will be ($2500 x APY)/ILV token price = ILV tokens?

[gloomy gazelle]

I think so. I’m too tired. Can’t compute simple formula.

Yes. That is it.

[hollow kelp]

si

[gleaming brook]

@gloomy gazelle @hollow kelp Thank you!

[lavish pollen]

Guys, when you add-on new stake into existing ILV stake. It will claim the rewards and re-stake it for you automatically. Is this behavior correct?

[still kindle]

Yes NSH, thats how it currently operates

[manic spindle]

It currently is, yes. Staking a new deposit requires claiming of rewards 🙂

[still kindle]

You can then see the Rewards claimed and days count down on the Vesting tab

[wheat grotto]

Gotcha all sorted 🙏🏼

[lavish pollen]

Ok, I thought it's something wrong with the visual when my rewards suddenly reset to 0.01 ILV 😅

[still kindle]

All good NSH, and those baby ILV rewards are now working at full steam to yield you even more !!

[clever swan]

Are ilv rewards claimed from the slp pool still gettting locked for 1 year and generating rewards themselves like before or is this changing with the new proposals?

[cunning perch]

#809220563397902346 message

[manic spindle]

Quote from the proposal: "Note: Compounded yield is still locked for 1 year and receives the same 2.0 weight boost, but that can be changed through future ICCPs if required."

No changes there for now unless an additional proposal would make that happen 🙂

[clever swan]

#📰〕governance-news message

so this proposal about locked tokens is something else?

[manic spindle]

This proposal is months old, yes. It removed locked seed/team tokens from being able to generate any rewards from yield farming because otherwise not only the ~635k circulating ILV would have been able to start yield farming but the 3.5m team/seed tokens as well which would have lowered the APY drastically and also meant that the majority of yield farm rewards would go to team/seed instead of further decentralizing the DAO 🙂

[clever swan]

ah I see. this was about the seed/team tokens. I was jsut trying to get info about stake v2 and saw this and got confused. Ok thanks Stormi appreciate it.

[quiet hatch]

How often are the staking rewards distributed?

[ember ginkgo]

You have to claim then yourself

[cunning perch]

Every block (15 secs)

[quiet hatch]

Ah no i don't mean claiming, I mean how often do the build up?

E.g. if I add to my ILV stake 1 day before rewards are distributed, will I get the entire amount for that 2 weeks?

[ember ginkgo]

Ah yeah don't listen to me, Arash actually knows what he is talking about

[quiet hatch]

Cool so the current APY is distributed over 2 weeks, every block (15 seconds)?

So if you staked on the last day (of the two week period), you'd only get 1 day's worth of rewards at that APY, before it decreases by 3%?

[cunning perch]

It'll be there until it drops. APY will decrease every 2 weeks. Also people joining/exiting the pools (and for SLP) price movement might change it as well

[boreal finch]

guys i need help how can i change from flexible to locked ?

[cunning perch]

Gotta have to withdraw (pay gas) and then stake in Core pools and lock them (pay another gas) however long you wish

[boreal finch]

thanks i got it !

[trail river]

What mobile wallets (for android and iOS) do you guys recommend to better hold and stake ILV?

[cunning perch]

Most use MM but you can use any wallet compatible with Wallet Connect

[trail river]

Which is better, MM or MEW?

[cunning perch]

MEW is for ETH afaik. you can use MM extension pretty easy with PC but I have to admit I don't like the Mobile version of it. But As I said, you can use other wallets that are compatible with Wallet Connect

[trail river]

I saw the MM mobile version. Did not like too.