🥩〕staking

[brisk surge]

What do you mean separate option? Is there other ways to connect a wallet to the site apart from pressing the button that says Connect Wallet?

[cunning perch]

No. you can see MM as a separate option. No need to use Wallet Connect. This is on Chrome

[brisk surge]

Ah, Chrome was running an old version. Updated it and now the MM icon shows. Thank you 🙂

[cunning perch]

No problem at all 🙂

[cyan plaza]

Okay, I am locked in for a year!
Excited to be part of this community.

[brisk surge]

Do you guys think ilv will continue to soar or the price will go down even by a bit

[sonic lotus]

I'm praying it goes down so I can buy more at a discount hahahah

[cunning perch]

https://tenor.com/view/mr-bean-thumbs-up-approve-well-done-okay-gif-14437501

[cunning perch]

The price is $100 down from ATH. But let's keep price in #💰〕token 🙂

[brisk surge]

Question, if I stake then lock it I can't claim it for a year right? What if I want to add ilv for long term I should just buy ILV it will be considered hodling right?

[cunning perch]

If you lock your stake, you cannot touch it. The rewards you receive, If claimed in form of ILV, They will also be locked for a year AFTER claiming. If you choose sILV, it will be released to be used in game.

[brisk surge]

Alright, sorry for dumb questions. Thank you.

[cunning perch]

Nothing is dumb. feel free to ask whatever is on your mind 🙂

[cunning perch]

@shut onyx please DM again. I accidentally deleted it lol

[shut onyx]

lol alls good

[signal marsh]

Guys I need help, I have 100$ of ethereum in my MetaMask wallet and I try to stake them on ILV it says that my balance is 0

[cunning perch]

you cannot stake ETH. Have you got ILV in your wallet?

[signal marsh]

How?

Can I swap it inside MetaMask wallet?

[cunning perch]

!staking

[woven ibex]

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

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

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

[cunning perch]

use sushi or swap ETH with ILV on CEX like Binance/KuCoin. Watch the vid above to help you with it

[signal marsh]

OMG, I bought ILV on Binance than I swapped it to ETH so I can send it to Metamask and I paid 15$ for fees. So that means I have to transfer it again and pay again gas fees???

[sonic lotus]

You can actually just send ILV straight from Binance to MM in the future. The transfer fee is quite low.

[cunning perch]

yeah you can easily buy ILV on Binance and send it to MM and then stake.

[brisk surge]

How many ILV for staking to be worth it

[cunning perch]

There is no minimum. It depends on your buying power and the fact that your need to pay gas for each claim.

[lime moth]

He would also need to send some ETH to MM for gas fees of staking and claiming later

[signal marsh]

I have 100$ of ETH and I want to swap it to ILV, it says 40$ GAS fee…really??

[cunning perch]

yep. Maybe it would be worth sending it back to Binance and swap it there and resending to your MM to stake. But it takes longer. Watch the Gas. It will always be there

[flat grail]

hello

i want to know how much it would cost me initially when staking in the ILV/ETH pool

[cyan rampart]

#🥩〕staking message

Lots of other useful stuff in the pinned messages if you wanna calculate costs.

[worn palm]

Check out Derajis staking calculator guide in #🎨〕community-content. Helped me out loads 🙂

[gleaming karma]

can somebody tell me how much aprox it's the gas fee to stake slp ?

[flat grail]

is there a video explaining his calculatior?

[worn palm]

https://youtu.be/64rf_ja61Xg

[gleaming karma]

Nice..im staking 1.22 SLP 😄
To the moon !

[granite halo]

Sad. I was expecting much more ILV than what the calculator is saying.

Guess I gotta triple my stake in the next 3 months.

[molten thistle]

Staking might eat that 100 in fees so I'd keep that eth as your gas tank and just get more ILV to stake, NFA.

It ran me about $220 in ETH to build an SLP token and get it staked.

straight ILV isnt nearly that costly because you dont have to exchange stuff, but eth fees.. they get ya

[normal gust]

once you collect rewards from sushi lp the rewards go into staking for a year. Can you collect the staking rewards or are those also thrown back into the pool.

[brisk surge]

Your claimed rewards will be listed on the vesting page, each batch of claimed rewards becomes available to unlock after 1 year

So once you claim your pending rewards, they are staked in the ILV core pool and are their own batch on the vesting page. You'll have more ILV in the core pool, and now your total pending rewards starts over until you claim another batch.

[signal marsh]

Why staking is gonna cost me money? Any video about this?

[brisk surge]

You pay a gas fee for using the ETH network.

#🥩〕staking message

[cyan rampart]

Anytime you move ERC20 tokens around or perform operations with them, swap them, transfer them, you interact with the blockchain, and that incurs a gas fee to get your transaction processed.

So swapping ETH for ILV has a gas cost associated with it, and so does staking.

[ivory sun]

Check the pinned messages for ILV staking tutorial

[signal marsh]

I just watched it, thanks.

So guys, how much money do I have to invest to be worth it!?

[wide eagle]

1500<3000k usd is a good foundation if your in the long term game NFA "gas calculated in for staking"

[cyan rampart]

If you're staking, I'd say $1k+ is reasonable if you can wait for cheap gas. If you're just buying ILV, you can pretty much get however much you want - buying small amounts without the intention of staking is probably better on Binance than anywhere else though.

Also NFA.

[wheat grotto]

I’m still unsure whether to stake SLP or ILV can’t make up my mind 🥲

[wide eagle]

https://tenor.com/view/why-not-both-why-not-take-both-gif-11478682

[wheat grotto]

I have a small stake in ILV already about 2.3.. I’ve bought 8ILV and have 4k in eth portfolio ready for SLP but just can’t pull the trigger lol

[wide eagle]

https://tenor.com/view/do-it-what-are-you-waiting-for-determined-angry-gif-5247874 lol

[wheat grotto]

Ahhhhh hahaha tomorrow is the deadline I’ll decide then

[cloud quiver]

Do it. You won’t regret it. This is financial advice.

[molten thistle]

Back when I staked, you couldn't just buy ILV on Binance. So I had to buy ETH and then send to MM (gas fee), then I had to exchange half the ETH for ILV (gas fee), then I had to add the ETH and ILV into liquidity tokens (gas fee), then when i staked, if I remember correctly, there were 2 transactions, each with a gas fee. Final cost in gas, at about 50-60 gwei , was about $220 worth of eth.

Right now you can just buy ILV so that would save you the one conversion fee, so staking SLP might only run 150 or 175 in fees.

Staking straight ILV should only get you the fee for transferring it to MM and then the 2 fees when staking.

Claiming will also cost 2 transaction fees, so about 75 bucks usd worth of eth at currrent prices.

[gleaming brook]

I am just waiting for gas to come down before staking in SLP. Staked currently in both pools

[charred rampart]

I’m curious, does my “amount staked” slp value reflect impermanent loss?

In the sushi lp

[brisk surge]

The amount of ILV and ETH that each SLP token represents varies over time. So it shows the amount of SLP you have, but that SLP could have different value than when you bought it.

[wanton flax]

someone the other day linked some medium posts from a guy who wrote a whole bunch of stuff i cant seem to find it now

[cunning perch]

I think it was @elder dawn you're talking about. he's typing. you can ask him 🙂

[wanton flax]

yeah

[elder dawn]

It depends what you mean by "reflect impermanent loss." The SLP price is your current value. Impermanent loss is the difference from if you would have HODLed and not staked. That's what the calculators show.

[wanton flax]

any one got the link to his stuff i was too tired yesterday to process it all

[elder dawn]

What can I help you with? The blog is at publish0x.com/ilvfi 🙂 More videos coming this week on my new youtube channel

[wanton flax]

oh i just wanted to understand the math

[elder dawn]

I'm happy to share here if it's valuable to the community, or you can message me. I also shared a directions video this weekend, with more coming every other day this week. https://www.youtube.com/watch?v=64rf_ja61Xg

[wheat grotto]

I’ve never met you but I trust you completely

[wheat grotto]

Let’s get rich together buddy 👌🏼

[pale trellis]

I have ETH do I buy ILV before staking as SLP?

[white mirage]

Yes, you stake half ilv half eth, equal $ amt

[pale trellis]

So I have 4 ETH I should buy 10 ILV and leave the rest as ETH to stake 4 SLP?

[autumn cloak]

Just make sure you leave a couple hundred behind to pay for gas fees

[cunning perch]

SLP = ETH + ILV (for example $10 ILV + $10 ETH)

[pale trellis]

Thanks I’m not sure though if I swap my total ETH I’m investing to ILV or I need to hold both assets. I’m looking at the staking screen for LP and and only holing ETH. It says my balance is zero.

[autumn cloak]

So if you have 4 ETH, thats roughly 12 grand. You could swap a little less than half to ILV, to leave $ for gas, and then you go to the sushi LP and provide liquidity there. Once you have that LP from sushi, that is what you stake on Illuvium website

[cunning perch]

You have to have equal amount of ILV and ETH in $. You add both to Liquidity pool in Sushi. After adding, Sushi will give you SLP (you have to add it manually to your wallet, just add the address), then you take it to ILV core pool and lock it there. Be advised you'll be paying 3 or 4 gas to get it locked

[autumn cloak]

I recommend watching some staking videos posted on youtube. They were really helpful for me to see a visual

[pale trellis]

Thanks those steps really helped! I’ve just staked 4 SLP 🤓

[cunning perch]

https://tenor.com/view/thumbs-up-gorilla-you-rock-good-job-well-done-gif-11723956

[pale trellis]

Could have staked the value of 0.5 ETH more. Was too conservative with gas 😂

[cunning perch]

Don't worry, you'll pay that for gas 🙂

[pale trellis]

While claiming rewards?

[cunning perch]

Yeap. You'll pay 2 gas each time you claim SLP rewards. So, better to have ETH on the side than not have it at all

[pale trellis]

So it’s like gas fee for claiming, gas fee for the auto re-stake if claiming as ILV?

[cunning perch]

No. 1 Gas for SLP rewards and 1 Gas for single pool rewards. You'll know it once you wanna claim 🙂

[ripe steppe]

https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit?usp=sharing my calculator on all the different transaction fees within the Illuvium Ecosystem incl. SLP staking fees

[granite halo]

Hey Deraji, watched the entire video last night so maybe I was too sleepy, but I wanted to ask:

I was quite surprised by the fact that I would be receiving about half the tokens I had imagined. I am definitely no excel wiz so I haven't looked at the formula, but I know the calculator takes into account the decay rate of rewards.

Does it also take into the account the increased APY that occurs as the price of ILV goes up?

[gloomy gazelle]

@left carbon

sILV Token: 0x398aea1c9ceb7de800284bb399a15e0efe5a9ec2

[brisk surge]

The APY takes into account the dollar value of ILV relative to ETH. The actual number of tokens received is only varied by the decline in rewards over time and the amount of SLP staked in the pool.

So higher APY means you are getting more dollar value, but not necessarily more tokens.

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

this article by deraji explains how APY works with the SLP pool

[brisk surge]

hi, ive searched a bit before asking this. I have 5.44 SLP with a weight of 2, from memory its about 15 ILV and rest is eth. What im wanting to know is when it comes to revenue distribution, im only paid out on the 15 ILVx2 and not the full staked amount including the eth portion. is this correct?

[cyan rampart]

Yeah, only the ILV component is eligible for revdis

[brisk surge]

cool thanks

[brisk surge]

The ILV value of your SLP is:

SLP value in $ / 2 / ILV price.

also, has a date been set for the v2 staking moving to a 2yr lock?

[cyan rampart]

The weight is a bit tricky - basically tokens are distributed to POOLS first, based on how many total tokens are staked in said pool. After they are split by # of tokens in each pool, they are distributed based on weight.

[brisk surge]

thats takes a bit more to get my head around

Staking rewards are segregated by pool. Revdis i thought was only divided by the # of ilv staked.

[cyan rampart]

So, super not real example, there's 3 pools of 1000 ILV staked, 2 of those pools are all staked at 0 weight, 1 of those pools has variable weight between 1 and 2.

Each pool gets 33% of revdis tokens, and OF those 33% going to the variable weight pool, the 2 weight tokens get a bigger share.

[brisk surge]

i see

[cyan rampart]

Yeah, so weight factors within the pool, but not for the total distribution.

This is necessary because a lot of tokens are staked at 0 weight.

[lime moth]

So, when you stake in SLP, if you claimed lets say X ILV, they are staked and locked for 12 months with weight of 2. So if we get Y revdis per ILV, i should get total of X x Y x 2 right?

[ashen perch]

How do you see how long you have staked for when you don’t remember what you chose?

[lime moth]

You can check in vesting tab as far as i can remember

[ashen perch]

What if you just started and haven’t vested yet?

[next ruin]

The vesting tab shows all of your "unlock timers" both for initial stakes and vesting rewards.

[ashen perch]

Where does it say on here

[next ruin]

So, it's 1x weight - so you staked flexible. You can withdraw at any time.

If you don't remember when you staked and want to find that out you'd have to look at your wallet history - directly or through a viewer like zapper.fi

[ashen perch]

Ok thanks

[elder dawn]

hey, sorry, wasn't watching Discord for a bit - the calculator ignores APY as a term entirely, and just focuses on projected number of people in the pool and yield farming rewards over time. Like Scoot posted, APY is dumb 🙂 Real return is number of ILV rewards received. The big factor and unknown is the value in cell F8 in my calculator - how many people join over time. That and the known 3% decay determine your ILV received.

[granite halo]

Thanks man. Answered my question. Looks like I have to atleast double my stake.

[elder dawn]

The two core pools are viewed differently, and may have slightly different rev dis due to average weight in the pools. I'm working on a video to go through this more clearly, but for now, here's where I try to explain how revdis and staking pool weight work together. https://www.publish0x.com/ilvfi/illuvium-revenue-distribution-explained-xlzeyom

[fallow gate]

Can someone kindly let me know how do i stake my ilv coins on illuvium site that are in my binance wallet at the moment for 12 months step by step as I’m new to crypto market and in need of instructions.Many thanks

[delicate cloak]

do you have a metamask or browser wallet?

[fallow gate]

No, I don’t

[delicate cloak]

if so, just send from binance to that and then go to the illuvium website and go to the staking tab

https://medium.com/illuvium/28-everything-you-need-to-know-about-staking-ilv-6669594b2fac

https://metamask.io/faqs

[ashen perch]

Got to send your eth to MetaMask wallet first

[delicate cloak]

you'll need to buy ETH too to pay gas. you'll need to send ETH and ILV to your metamask wallet and then you can stake it through the website, you'll need to watch a few videos and read some guides. hard to explain briefly.

[ashen perch]

Then from there to sushiswap

[delicate cloak]

well depends if you're staking ILV or SLP (ILV+ETH)

[ashen perch]

If your staking just ilv, you don’t have to go through sushiswap?

[delicate cloak]

no, just go to the staking section of the illuvium website. i bought my ILV through binance

[ashen perch]

Can you send ilv to metamask?

[delicate cloak]

yep. its just an ERC20 token

you gotta add the contact address i guess for it to show up

[ashen perch]

How do you add ilv to metamask?

[delicate cloak]

do you use coin gecko or coinmarket cap? they have a link when you look at the token on their site. it connects directly to metamask. otherwise you can manually add to metamask with the contact address which i assume is in this discord somewhere

[ashen perch]

Ok I see. You need the address. Where do you find that?

[delicate cloak]

i just went via coinmarketcap but i'm sure i've seen someone use a bot command to bring the address up but i don't know how

[ashen perch]

Okay thanks

[next ruin]

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

Copy+pasted from the pinned bot command

[gloomy gazelle]

!staking if you haven’t done it yet below you will find a quick description and a link to a tutorial video

[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

[fallow gate]

Thank you for this. My understanding so far is i can’t transfer my ilv coin from binance wallet to metamask

So I have to exchange it to eth then transfer the eth to metamask. Am I right doing that

[gloomy gazelle]

Seems wrong.

Oh I understand why you think that. The issue is that the tutorial was made before you could buy ILV on binance.

You should be able to send ILV straight to your MetaMask. It’ll be done in pretty much the same way as sending eth there or any other ERC 20 token.

[fallow gate]

Oh, ok. Thanks a lot . Also sorry to be naive and ask this, when i go to illuvium staking site to do this steps it asks to connect wallet ( in this case metamask) at this stage there is no log in with my info on illuvium site at all

So where does my coin registered or kept as my understanding is at this stage you move your coin from metamask to illuvium

Or my coin will freeze in metamask wallet

[gloomy gazelle]

The ethereum network wallet is your key to everything.

[gloomy gazelle]

So when you do the staking deposit transaction (you will need to pay gas fees in ETH) your ILV tokens will be deposited into the staking pool’s wallet address. But you will have a trustless contract to be able to get your deposit back when you want to (after your lock up time ends). It’s the beauty of DEFI. Your contract can’t be disputed and there are projects like zapper.fi that can still help you know where all of your tokens are deposited by contract.

I hope that is not more confusing.

[fallow gate]

Thank yo so much, it starts to make more sense to me now

By deposited to my staking pool address do you mean in metamask app wallet

Which I can’t touch for 12 months and after the 12 months period i will have double of what I deposited today?

[brisk surge]

you wont have double, the apy at the moment is 66.87 percent which is decreasing at a rate of 3% every fortnite.

[fallow gate]

I see

[brisk surge]

I think there is a calculator somewhere that does the math

[fallow gate]

Thank you

[gloomy gazelle]

Lots of helpful thing pinned in here.

[fallow gate]

You are so kind. I really appreciate your time

[gloomy gazelle]

Not really. You use your MetaMask wallet to interact with the official staking illuvium website

I got similar help in March when I first wanted to get ready to buy ILV.

https://tenor.com/view/illuvium-ilv-illuviumio-yield-farming-yield-farm-gif-22319421

[fallow gate]

Oh, So this is the bit i don’t understand. When i stake the ilv to illuvium site from metamask where do i keep an eye on them ( i’m not familiar with Ethereum network wallet)

[brisk surge]

you just check them on the site

[gloomy gazelle]

Yeah just check the staking website.

[fallow gate]

So do i give my details after staking the coins?!

[gloomy gazelle]

You can also manually add your portfolio info to something like CoinGecko.

[gloomy gazelle]

Your wallet can maintain its connection. You don’t need to share info.

[woven ibex]

This is a reminder to never give out your private key (12 to 24 word seed phrase) to anyone.
Nobody in the team will ever ask you to send ETH. There has been increasing activity of DMs in this Discord related to scams and fake giveaways.

Any giveaways/promotions will be announced on official channels. Not in Discord DMs. #🚨❗〕report-scammers in the linked section with a screenshot of the message you got in DM's. Also include the "@ username" in text and we will ban them. We are growing fast and there are targeted scams going around. Only trust links from official channels.

[fallow gate]

Do you mean my metamask wallet?

[gloomy gazelle]

Yes

When you go to the staking website using the same web browser that your MetaMask wallet is on then your MetaMask wallet will either be connected still or you will be able to reconnect it.

[fallow gate]

Perfect, Thanks, just moved my coins to metamask wallet . And going through the staking procedure. Do you think the best is core pools?

I also connected it to metamask wallet so thanks for the instructions 🙏🙏🙏

[gleaming brook]

I use zapper.fi to monitor

[gleaming brook]

Most of us used Core Pools - either ILV or SLP pool

[fallow gate]

Thank you

Also could you explain how does the revenue share distribution works? I would like to go with ILV pool

And staking it for 12 months

[pale trellis]

!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

[pale trellis]

!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.

[harsh breach]

when I have claimed like 1 ILV and started 12 month timer; and then claim another 1 ILV month later... and then another 1 ILV another month later... and I don't want to withdraw them until all of them 3 are withdrawable (in like 14 months then), can I withdraw them in 1 transaction or do I have to do 3 transactions? And on case I have to do 3 right now, where and to who I need to tell to fix this so I can add them together into one transaction to reduce the gas fees wasted (like feature request kind of thing)?

[gloomy gazelle]

Revdis hasn’t happens yet. But locking your ILV for 12 months will give you 2x weight for revdis as well. So that’s good.

[fallow gate]

Thank you. All the best

[paper parrot]

hmm staking in sushi pool worth the risk?

[ruby ridge]

I believe with every top up you're intending, you'll pay gas to unstake and restake with additional tokens. IIRC

[ruby ridge]

Depending on your risk appetite. Will you be comfortable when there's a spike in prices be it up or down when good/bad news related/non related to ILV impacts? It's a very personal choice I'd say. For me, I aim to build both as I only look forward to accumulate more ILV tokens instead of looking at it from dollar POV. You may wanna seek the pros advice or watch vetemors' YouTube content

[worn palm]

Just earned my first full ILV token from staking! 🥳. Took 36 hours

[gloomy gazelle]

https://tenor.com/view/illuvium-ilv-illuviumio-yield-farming-yield-farm-gif-22292421

[wide eagle]

https://tenor.com/view/illuvium-ilv-illuviumio-yield-farming-compounding-interest-gif-22210108

[worn palm]

Not claiming yet though. If I've worked it out right I should claim around every 21 ILV for optimal gas fees 🤓

[cunning perch]

That depends on gas mostly. Last weekend claim was around $20. If it got that low, you can claim much faster (like every 4-5 depending on the price of ILV) to benefit from the APY and computing effect

[worn palm]

Good point, I'll keep an eye on gas prices each weekend for sure. Sooner we claim the more we compound 👍

[vast hedge]

gm

[paper parrot]

So when it comes to the apy from the sushi pool is that the apy percentage you get in return from your entire investment or does it only count the ILV you put in and not the eth

if you get what i mean

[vast hedge]

I would like to withdraw my XYZ.
I see this on the Illuvium site:
"Before you can withdraw, you first have to claim your existing rewards in this pool. Because we compound your rewards into the ILV pool, if you select ILV, the rewards in that pool will first be claimed before claiming rewards from other pools. You will be asked to confirm these in your wallet."
and then it offers me the option of ILV and sILV
What is the best process to take in order to do the minimal gas transactions?

[cunning perch]

Gas will always be there. You just need to do it when it's very low. Past weekend it was very low. To claim your XYZ you literally need to pay two gas (one for the pool claim in which you can choose either ILV or sILV with the former ending up locked for one year while the latter is released immediately to be used in game/landsale/sold half-priced in open market) (and one gas for the withdrawal of your XYZ) you just have to do it when it's worth paying the gas for.

[vast hedge]

Right-o

I noticed that the gas for ILV is a lot higher than the gas for the sILV...

[cunning perch]

It differs based on the contract. As I mentioned above, ILV ends up being locked for one year while compounding in the ILV pool with a weight of 2X which requires a more complex contract than simply claiming sILV which is merely a withdrawal one. So it makes sense for it to be more expensive to claim.

[vast hedge]

Got it.

Thanks, from the noobie.

[cunning perch]

No problem m8 🙂

[paper parrot]

@cunning perch they say rewards have a vesting period does this mean you can't withdraw the rewards before the vesting period is over

[cunning perch]

Yep. Vesting literally means locked 🙂

[paper parrot]

is it that way to keep the economy more stable in game @cunning perch

[cunning perch]

Well ofc when rewards are locked and get different locking periods upon claim, means when they start unlocking there won't be major dumps as all rewards are not unlocked all together and the team has made it so profitable to leave it staked than withdrawing and lose all the privileges provided by it.

[paper parrot]

it makes sense

[dense mulch]

Guys do you think the LP pools impermanent loss is negligible since the APY is so high? I am just wondering of the risk vs the normal staking

[cunning perch]

That's a risk anyone who wants to join LP should take. In case of a market crash it might drop heavily and in case of out-pacing IL might be massive.

[paper parrot]

i did some calculations at worst you would have a 13% impermanent loss if ilv moved 3 times and eth stayed limbo. This would still leave you with major profits tho

[dense mulch]

Thanks Uzi, thats was something I hope someone had a answer to. 13% isnt that bad if you look at the end picture

[paper parrot]

nightmare scenario is that the game flops and everything goes to shit but thats highly unlikely

[dense mulch]

Well... thats the risk to every investor but I dont think the devs wouldnt have wasted that much hours to let a triple A title go to waste

[paper parrot]

true you can check this out to calculate impermanent loss https://dailydefi.org/tools/impermanent-loss-calculator/

[dense mulch]

I tried that, however its different since for Sushi pool there is a 0.8 weight and we cant input that sadly.

[paper parrot]

really

[austere cliff]

I got into the Slp pool when ILV was around $180 and I'm pretty sure my IL is waaaaaaaaaay more than 13%

[paper parrot]

probably i'm still learning

[dense mulch]

Is there a way you can calculate your IL? Would benefit some of us

[paper parrot]

@austere cliff yeah you should calculate that

[austere cliff]

Problem is that I topped up again around $415, so it makes it a whole lot more complicated. Either that or my maths is just horrible 😆

[granite halo]

People say compounding interest like it is a big deal, but when I checked mine with the calculator, the SLP pool gave me a total of like 50 ILV, and the compounded rewards from the vested ILV was like 3 tokens...

[dense mulch]

I think thats cause you are providing liquidity vs staking. Providing liquidity has more risk due to the impermanent loss of token and value since the pool has to always balance the both

[upper walrus]

!stake

[manic spindle]

!staking 🙂

[woven ibex]

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

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

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

[floral widget]

If you have 50 ilv at current rate in 1 year they will give birth to about 30 ilv. It is not great in the world of crypto but it is not peanuts either

[granite halo]

I was just going by what I have staked, and in the end I may have 50 ILV, but those 50 ILV will definitely not give birth to 30 ILV.
Accounting for pool growth, and decay etc. The current rate isn't exactly reliable.

[long moss]

is there a way to track this yield and current impermanent loss once locked up? similar to yieldwatch or farmfol.io

[floral widget]

Then you can go for the advanced strategy of claiming them as silv , selling them as silv for 50% ilv cost and then using the proceeds to buy SLP, the amount earned over the course will be significantly more

[granite halo]

Broooo wtf. 10000 IQ play?!?

[floral widget]

Nope I just sharing the 10000 iq play discussed previously in the IZ channel haha

[granite halo]

That is still a 10000 IQ play. Will definitely consider it.

[lime moth]

How is the value of 1 SLP calculated? Currently it is around 2650 usd, equivalent to 0.84 ETH. Is it always equal to 0.84 ETH (in terms of usd, i know its 50/50 ilv to eth inside) or does it have a different formula?

[hazy token]

Is sILV currently trading at 50% of ILV?

[floral widget]

Less than 50% now https://www.dextools.io/app/ether/pair-explorer/0x13cf86f52d4a3000ca7349ce5cf107c248dfea81

[dry dome]

Hi, why can I only stake at ILV and not on Sushi LP. Even though, I'm already don with the step of adding liquitidy in sushi swap.

[hazy token]

I have been waiting longer between claims and now that you suggest that, my curiosity is piqued

For sure 10000 IQ play

[elder dawn]

The price of an SLP moves with the price of eth, the price of ILV, and the ratio of the two. It also increases as swap fees are added. It really just adjusts over time to account for these changes starting from when to pool began. It started below $100 per SLP, and has been over $3000 at times

[floral widget]

Did you exchange your eth and ilv for SLP token?

[dry dome]

In my metamask, it still appears as ILV

[floral widget]

You didn’t complete the swap… otherwise it will show as the swap token you can check your etherscan

[dry dome]

Ok thank you. Appreciate it

[inner cove]

i just bought 2 ilv - you think it‘s worth staking locked with 66 apy?

[sonic lotus]

I have just bought 3 more and that's my plan. Stake it to the ILV pool. I'm not recommending this, but this is what I, myself am doing.

[pale trellis]

Stake before the masses.

[frosty totem]

If someone wants around 100 ilv in 3 years how much should that person have in the SLP starting around now?

[brisk surge]

Have you used the calculators that are pinned to this channel?

with the distributions paid back to stakers in ILV. are these rewards then placed in vesting or can we either sell or re stake?

[brisk surge]

The revenue distribution will not be locked and can be used to sell and re-stake whichever you do is up too you.

ok great. thanks

[wintry halo]

Go back and check that you didn't just 'Approve' the token / liquidity pair, rather than actually swapping. If it's your first time using The pool you will more than likely have only approved it

[frosty totem]

I'VE used the one Deraji published on his blog.

[brisk surge]

I Have $800, my question is all in ILV or $600 ILV $200 sILV or maybe 700/100

[wind walrus]

Depends on your goal. Are you wanting to play or invest?

[brisk surge]

Both

[dreamy pilot]

best bet is probably to go all in on one, with gas fees being a factor

[brisk surge]

You're right, that make sense

[wind walrus]

Your best bet may be to stake all 800 into ILV Core and claim sILV as your reward. By staking you will be eligible for RevDis and will earn more ILV. It's a long term investment.

[chilly lodge]

Hey guys if i claim silv as a reward would it add to my liquidated pool?

[manic spindle]

!claim sILV is paid out directly, ILV is vested for compounding 🙂

[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.

[fallow gate]

In 54 weeks locked investment on ilv do you only pay the gas fees initially to invest and then whenever you claim your rewards?

[chilly lodge]

Ohh i see silv is ingame currency right?

Would u guys recommend claiming ilv or silv i know most people claim ilv right!

[manic spindle]

You only pay gas fees for approving the contract, depositing a stake, claiming rewards and withdrawing, yes. So you always decide yourself when to do a transaction 🙂

[manic spindle]

Different purposes, only you can decide that 🙂

!ilv

[woven ibex]

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

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

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

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

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

[manic spindle]

!silv

[woven ibex]

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

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

[fallow gate]

Thank you

[chilly lodge]

Ohh may i ask what u do sir?

[white mirage]

Any chance of moving ILV stake to SLP stake with V2 migration?

[manic spindle]

I am almost exclusively claiming ILV.

[chilly lodge]

I see also btw when i claimed it claims both automatically is this normal? Both ilv and slp reqards get claimed

[manic spindle]

Haven't heard anything about that and I doubt it also because SLP stake requires Sushi LP tokens which have to be acquired on SushiSwap. I don't see (even if it's possible) how it would be worth it to spend time/money on a "ILV to LP pool" swap feature.

[white mirage]

yeah, I figured it's a long shot, but wanted to shoot it. I've got 20 ILV I'd love to move to SLP stake

[manic spindle]

ILV pool can be claimed individually. LP always requires both pools to be claimed. With v2 staking there would be changes to this though => #887631374578757692

[white mirage]

Feels so wasted having 20 ILV in non-SLP 😭

[manic spindle]

That would also require 20x ILV value in ETH in order to do so since LP tokens are 50/50 ILV/ETH in USD value 😉

[white mirage]

Yeah, the ETH wouldn't be a problem. I learned my lesson for round 2/3 and staked in SLP. There was just some FUD around the first time I was staking with someone here saying they got waaaaay less than expected from SLP pool.

So I went with what I understood best, ILV pool first time. Staked 10x in SLP pool now.

[wooden moon]

I have tokens vested for some months yet. If I stake and vest more tokens now, will those in there be affected in any way?

And when their vest expire, if I unstake part of them, will the remaining tokens keep their 2x weight or I'll need to vest them again to keep the weight?

[worn palm]

Part 2 of Derajis staking calculator guide now in #🎨〕community-content

[proven sapphire]

what's the contract for ILV metamask ???

[craggy field]

Also pinned in token channel:

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

[cunning perch]

You question is related to V1 and V2 staking. You can add (stake) as much as you want whenever you want and chose different locking periods. Regarding the rewards, they will have different release dates depending on their claim fate. For now, whatever batch is unlocked, you can manually unstake. Later if you migrate them to V2, you can only unstake all together.

[wooden moon]

so we'll need to migrade from v1 to v2?

so with v2 we're able to only stake everything at once? and if we wanna keep some staken we'll need to stake and lock it again?

[cunning perch]

After the implementation of V2, when your tokens are unlocked yeah. If you want YF rewards and RevDIs you'll have to migrate it

[wooden moon]

hmm so when v2 is deployed the YF and revdis will be migrated to it and we'll need to migrate too? I didn't know that... and will we be able to migrate vested tokens?

[cunning perch]

you can migrate the ones you want and then withdraw the ones you want as well before migration. After Migration, all unlocked tokens will be added together and you will only be able to withdraw in one TX

[cunning perch]

as I said. Whatever unlocked tokens in the vested section needs to be migrated to V2 if you want to continue to receive RevDis and YF rewards. Otehrwise they will sit in V1 and won't generate anything

[wooden moon]

sorry I didn't understand :-x will we be able to migrate vested tokens too?

[cunning perch]

We only have two tokensL Locked/Unlocked. If they are undergoing vesting = They are locked. If they are unlicked, then the vesting is done and can be migrated to V2

[wooden moon]

so, will we be able to migrate locked tokens? 🙂

[cunning perch]

No. Just unlocked. I literally said it 20 times haha 😄 I would recommend going through V2 proposal again in #809220563397902346

[wooden moon]

sorry :p so will we (who had locked our tokens) lose YF and revdis until the lock expires?

[cunning perch]

The moment your tokes are unlocked (their vesting is done) They will stop receiving YF rewards and RevDis. (this is all AFTER the implementation of V2)

[hazy token]

question: When sILV starts being used in-game, are we likely to see something closer to ILV / sILV parity on the open markets? I just ran the numbers very approx for that 10,000 IQ play, but it's a bit of a pain considering how low sILV is currently trading. If sILV starts to get closer to ILV price, I will for sure do this. For now, just doesn't seem worth the effort

[wooden moon]

So while they are locked they'll keep earning YF and revdis, and when they are unlocked they'll stop receiving and we'll need to unstake them. Then we can choose to stake them on v2 and lock again to have 2x weight?

[wooden moon]

We can't know that. These pools were created by ppl who claimed sILV and added to the pools themselves. I personally think they're losing money on them. sILV on those pools is costing less than ILV on SLP because of normal offer and demand, more ppl is selling sILV on the pools than buying.

When the game is released and official channels for using sILV are opened, ILV price will be used and on these channels 1 sILV will cost the same price as 1 ILV. On those pools, we don't know. Of course, if on them 1 sILV < 1 ILV, it may be worth buying sILV there and spending on the game, as long as network fees don't mess with it.

[cunning perch]

no need to lock again. As long as you don't unstake/withdraw them they will continue to have the same weight even when you migrate them to V2

[wooden moon]

ah cool! so we don't need to unstake from v1 to stake on v2, it's a special transaction for migrating, then we'll have them staken on v2 with same weight as they were on v1

[hazy token]

The dynamic of how sILV price plays out is going to be interesting then. If on-channel there is always parity, but pools are created, where sILV will be cheaper for those wanting to join the games- although many sellers happy to take a hit for quick liquidity, I guess it will never reach parity. Converting sILV rewards into ILV/ETH for adding to the SLP pool is more profitable right now, but a pain in the ass to go through all the steps. I would consider it if sILV were say at 75% of ILV value

[cunning perch]

yeah but you will have to pay gas to migrate the unlocked tokens to V2

[gleaming karma]

i bet that when game launch silv prob hit %65-75 of ILV price.

[sonic lotus]

all tokens staked in V1 will still be eligible for YF and ReviDis even after V2 is active right?

[cunning perch]

Unless they are unlocked and V2 is implemented, yes. After V2 if you want rewards, you'll have to migrate them

[wooden moon]

yeah it's kinda complex to calculate how much we waste of fees, and as LP shrinks it's gonna be harder and ppl with money on them may lose more

[sonic lotus]

yea so all locked tokens are still eligible. Only once they are unlocked they have to be migrated and locked again to V2.

[cunning perch]

Yep.

[wooden moon]

And on v2 if we wanna unstake we must do it with all unlocked tokens, we can't set how many we wanna unstake and leave the rest there?

[cunning perch]

Yeah. Unless they implement that too, but doubt it cuz its a total complex scenario. The questions has already been brought up in #809220563397902346

[wooden moon]

ok let's wait for it to be implemented and deployed 🙂

[cunning perch]

#809220563397902346 message

[wooden moon]

cool

[brisk surge]

sILV doesn't compound right? Only ILV?

[wooden moon]

mind I ask another noob question, why was v2 proposed?

[cunning perch]

Nope. No compomding for sILV

[cunning perch]

Primarily to save gas 🙂

[wooden moon]

so they're gonna optmize the code?

[floral widget]

On the contrary , I think the guy who make the LP for silv is making bank, it’s always good to be the sole market maker and get a cut on each trade

[brisk surge]

alright thanks 🙂

[wooden moon]

but they're selling sILV for lower price than ILV, so they'd rather keep it

[cunning perch]

Well the proposal is somehow clear. This V2 is supposed to help save gas unstake tokens in one tx than 200 🙂

[cunning perch]

sILV is literally free money. So yeah, they have already got their hands on fast free liquidity

[vivid ruin]

Where are people selling silv?

[cunning perch]

An unofficial pool on Uniswap. (made by random ppl)

[wooden moon]

I don't mean ppl swapping sILV for ETH, I mean ppl that are adding liquidity to the pools

but yeah, if we think YF as free money, they're earning some instead of the possibility to earn more in the future 😄

[cunning perch]

Doesn't matter if ppl are adding to the pool. As long as they do that, ILV will be come more valuable.

[fallow gate]

On staking /locking ilv for 12 months at at today’s rate, what would be the gas fees?

[cunning perch]

For whales it's just a fast way of liquidating rewards. This act had always been anticpated

[cunning perch]

Gas varies by the second. It also depends on the smart contract, like approving your token is cheaper than staking them on the website even with the same Gwei

[fallow gate]

Thanks Arash for this. As I’m a noobie to crypto market, could you explain it on easier term. Lets say gas fee is at 96. I’m connecting my metamask wallet on site to stake my ilv for 12 months so i earn the %66.41

I bought these tokens on high $650 per one and don’t want to touch it for a year. Also I don’t play games. What’s your suggestion to me

[cunning perch]

No worries. Well as I said it is different. To stake your ILV, first the website asks you to approve it and you'll pay little gas for it. Then you stake it in a core pool and lock it and this time you pay more had for it as staking contract is a bitore complex and costs more. You can follow gas prices in $ in gasnow.org

[cunning perch]

If you don't wanna play, don't wanna sell the bottom and wanna just have it there, then staking makes sense. However, you have to clam your rewards occasionally if you want them as they get locked for one year if claimed in form of ILV (AFTER claiming)

[uneven flare]

Is there any way we can know how many people are staked for 1 year?

[fallow gate]

Thank you Arash

[cunning perch]

I think you can find it here #🥩〕staking message

[cunning perch]

ah i mean unofficial haha

[gloomy gazelle]

There are lots of things that you can do with liquid funds that you can’t do with locked ILV. Possibilities are endless.

[cunning perch]

@gloomy gazelle I was walking on the street watching out not to get crossed over. I wrote "random ppl" but forgot the prefix un- 😄

[gloomy gazelle]

😂

[frozen sable]

So considering claiming SILV, Will SILV be able to be used for everything in the Game?

[cunning perch]

except in Market and Leviathan arena (wagering) 🙂

[gloomy gazelle]

“Man is hospitalized after suffering a tragic accident while moderating the Illuvium discord server.” Not worth it.

[frozen sable]

Will it be crucial to have SILV to play the game even without it being used for market place and wagering?

[gloomy gazelle]

Everything you pay the game for. You just can’t pay other players with it.

[cunning perch]

hah yeah. Though ILV has saved me from depression, so I'll contribute whenever I can 😄

[gloomy gazelle]

You don’t need sILV. ETH is just as effective.

[frozen sable]

Really, so I dont need SILV at all?

[gloomy gazelle]

https://tenor.com/view/illuvium-ilv-illuviumio-yield-farming-yield-farm-gif-22319421

[gloomy gazelle]

Correct. It’s like a gift card.

Part of it is as a way to help those that went all in ILV to still use their investment to play.

!silv

[woven ibex]

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

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

[gloomy gazelle]

!ilv

[woven ibex]

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

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

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

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

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

[frozen sable]

Hey thanks for that clarification, I am just going to claim all ILV I think personally.

[delicate cloak]

The incentive is that it's not subject to being locked up for 12 months

[manic spindle]

Exactly.

sILV is meant to provide a means of liquidating yield farm rewards without a vesting period of 12 months but that comes with it's own downsides of course 🙂

[frozen sable]

So When trying to approve my metamask wallet with a ledger to stake on illuvium website, I keep getting this error code and it wont approve the transaction to connect. I also notice its not asking me to approve it on my ledger but the metamask account im using is attached to my ledger. Does anyone know what might be going on?

[cunning perch]

Do this maybe it works:

1. in MM go to advanced setting and flip Ledger Live access to ON
2. Open Ledger Live
3. make sure your Data Contract on your Ledger Device is on
4. Make sure your Ledger and Ledger Live and your browser are up to date

It should work

[final steppe]

I had that same error message a week or two ago. #4 in Arash's post is what fixed it for me.

There was a firmware update available for my Ledger and while it showed me that in Ledger Live, I could not get it to download and install from there (clicking download or whatever the button was did nothing)! Ended up going to the Ledger website directly and downloading it from there. Then once I opened Ledger Live after that, everything was good to go 🙂

[frozen sable]

Okay for sure cause I literally had just tried to update ledger right before trying to stake, But it wouldnt work so I kept trying. But on 3rd or 4th try it said the download was sucessful so idk lol

[frozen sable]

okay will try

[frozen sable]

Says my firmware is up to date on ledger with 1.3 version, but down below shows i have 3 updates available. Will going to ledger website update everything that needs updating?

[final steppe]

3 updates available down below? Like the Ethereum app within your ledger?

If so, then definitely download that

[brisk surge]

Hey guys, I get that the sushi pool is used for people to buy ilv with ETH, but what does the ilv only pool do? How does the treasury used tokens staked there?

[final steppe]

@frozen sable Otherwise yeah, maybe try downloading Ledger Live from the Ledger website directly.
I thought we were on like... Version 1.8 or 1.9 now?

[frozen sable]

Damn what haha is my ledger just super out of date lol?

[craggy field]

Usually you have not allowed contracts in the ethereum app when you have objectobject error. Check that :)
Current version i think 1.3.0

[final steppe]

Yeah don't quote me on that! Just what I thought I remember seeing haha

Can't check my Ledger Live atm

[frozen sable]

I need that to be set to Allowed correct?

[craggy field]

Yeah

Because you need to sign contracts. If your ledger does not allow contracts to be sent to it then you cant sign anything.

[frozen sable]

Hey everyone I got it all updated changed contract to allowed in ledger, and im good. Thank you all

Just to clarify, even if you dont lock up your stake is it still subject to vesting?

[manic spindle]

If you deposit a stake without a locking period then you can withdraw it whenever you want. Any rewards claimed as ILV from yield rewards still have a 12 months vesting period though, correct.

[frozen sable]

Got it makes sense. So is it same for 52 week lock period, for instance I can pull out my original stake after 12 months but the rewards are whats vested? Or since locking the stake its also subject to vesting?

[cunning perch]

glad to hear it. Have fun. 🙂

[frozen sable]

Thank you much

[final steppe]

If you lock your stake for 12 months, you can withdraw that initial staked balance after the 12 months have passed.
Any ILV rewards you claimed during that 12 months will still be vested until each of their own 12 month vesting periods have ended

[frozen sable]

Awesome, Thank you.

[fallow gate]

Arash, I’ve my tokens in metamask wallet now, is this a safe wallet to keep my ilv coins while investing or shall i use ledger?

[craggy field]

A metamask wallet is a hot wallet. It is connected to the internet and therefor can be (easily) compromised.
A cold wallet like a ledger can only be compromised if you share its pincode and the wallet itself, or if you share the private key. It is not connected to the internet.
I have heard a couple (2-3) people in this server say that their metamask wallets were compromised, so i personally did not dare use júst that hot wallet. If you are however willing to take the risk, then do it :) it is up to you.

[cunning perch]

if you have used MM-Ledger Bridge then your Ledger keeps the key so they should be safe.

[fallow gate]

I haven’t used metamask-ledger bridge. How do i get that?

[craggy field]

You will have to buy a ledger and connect it to your metamask wallet through Hardware connect you can also use a Trezor wallet which i recommend over a Nano X, because nano X has some issues rn. If you plan to buy a nano S you might not have those problems.

[cunning perch]

When you connect your Ledger to your MM, it connects a bridge and every time you wanna use that certain wallet you need to confirm on Ledger. That's why no one has access to your tokens as they are kept offline. If you haven't used it, then they are in your MM HOT wallet which is an online wallet. MM is pretty safe. However, it is still a HOT wallet and therefor your tokens are online. Therefore, if undergone a hack, HOT wallets can also be compromised.

[fallow gate]

Thank you guys. Can you recommend a good ledger please. I’m in the UK

[cunning perch]

I use Ledger Nano X. Works pretty good and simple to use. Though many have had battery issues lately (new ones). Trezor works just as well

[craggy field]

Ledger nano X is great. But i had some bad luck and got 2 bad ones in a row. (1 with cable connection problems and 1 with battery heating problems)
Nano S is older and should be more reliable now. It can only store a small amount of different coins. So if you plan to be active on many fronts then not the best choice.

[cunning perch]

@fallow gate whatever CW you buy, make sure you buy it form their own websites and not any other third partis

[craggy field]

Always make sure you check the authenticity after delivery as well

[fallow gate]

Thank you

[hot lynx]

Hi guys a question on #🥩〕staking . When will V1 stop and V2 start ?

[next ruin]

Aaron has commented that he is hoping that V2 will be live around the end of October, but no dates at this point.

[cunning perch]

V1 will not stop until all the tokens locked on it are unlocked (might take a year after the implementation of V2)

[hot lynx]

Understand that it's also possible that people could move there V1 staked across to V2

[cunning perch]

when tokens are unlocked on V1, if ppl want YF rewards and RevDis, then they should migrate it to V2. Otherwise after the unlocking and implementation of V2, V1 will stop receiving rewards.

[hot lynx]

Ok I will have some staked in both 👍🏻

[cunning perch]

for now V2 is not operational. I suggest going through the details of it. You can find the proposal in #809220563397902346 pinned messages

[hot lynx]

In October I will have some staked in both 👍🏻

[hot lynx]

I understand the options in the Gov that they spoke about. I am ok with whatever they decide Np . Thank you 😊

It will be interesting to see the V1 % rate vs the V2 % Also

[cunning perch]

You mean APY? it is the same. V2 is primarily created to save gas and it will only change the characteristic of staking not the pools

[hot lynx]

So it's 100% the same pool for APY% but two methods of stake and unstake ? ok

[next ruin]

Yeah, from YF / RevDis perspective identical - just smoothing out the contract interaction to be more user-friendly with gas etc

[cunning perch]

ofc. Pools are the same. It will just be an update to the way tokens are staked. So it will save u gas and you can later unstake/withdraw your unlocked tokens in one TX than 200

[hot lynx]

Love ❤️ that idea ☺️

[wheat grotto]

If I stake now under v1 am I still classed as an early investor?

[turbid lagoon]

ok guys i need community help. i got 20 ILV tokens to spend in the different pools

[cunning perch]

It's not an early investor thing really. You stake for 1 year now, you get your tokens next year. You stake for 2X weight in V2, you get your tokens in two years

[turbid lagoon]

wich one would u guys use

[cunning perch]

It's pretty optional and you will have to choose what works for you. Before deciding, it is worthwhile to go through the pinned messages and use calculators provided by the community to help you decide better

[wheat grotto]

I see, okay thanks arash! Nice dp 😝

[turbid lagoon]

i will stake without doubt for a year

[cunning perch]

Sure. I take it your question directs SLP and ILV pool mostly.

[turbid lagoon]

indeed... need a little push in the direction at the moment. the 500% is crazy to see ^^

[cunning perch]

Check this out for a simple comparison #🥩〕staking message

[turbid lagoon]

impermanent loss is little chance to happen since its a new game going with this concept

[cunning perch]

ILV out-pacing ETH will result in massive IL anyway. That's why you get more rewards to compensate for it.

[turbid lagoon]

ok going for sushi then ...

[cunning perch]

@left shore using a Ledger? Maybe you have to up the gas a bit

[left shore]

no ledger

just clicking to withdraw ILV and i chose sILV and gives me this

[cunning perch]

Then make sure you are using the updated Browser, clear cache, up the gas, raise gas limit and try again

[left shore]

tried on phone and PC

[cunning perch]

do you have enough ETH?

[left shore]

0,4

[cunning perch]

that should be more than enough. The only thing that comes to mind is you MM app of phone and Browser on PC are not updated. Otherwise it should really work.

[left shore]

update the metamask app? or browser?

[cunning perch]

both. MM has had updates recently.

[left shore]

how to update mm

[cunning perch]

on your phone store (google play / app store) and update your browser on your PC

[left shore]

both updated, still same

[cunning perch]

Ok. Maybe @hexed bough can help you with that.

[left shore]

would be appriciated @hexed bough

[young harness]

Hello Guys, could someone please help me to stake using coinbase wallet?

[cunning perch]

Hey. What's the problem?

[young harness]

thank you, after locking for 52 weeks I need to select an amount

it won't let me, it doesn't work

[cunning perch]

you cannot select an amount?

[young harness]

nope. I can either click MAX or i can manually enter an amount it doesn't work.

I wish I could send you a screenshot. but Ithink is restricted here, isn't?

[cunning perch]

maybe refresh your browser, close and enter again even the website. This is the first time I'm seeing this issue. you cannot send screenshots yet as your level is low

[young harness]

Oh I see. Well i've tried refreshing several times But I haven't closed out the browser, chrome. I'll even restart my computer and I'll let you know

[cunning perch]

make sure you update Chrome too if not yet updated

If it worked, watch out for the Gas now. It's too high.

[young harness]

well, I just restarted my pc and Chrome is up to date

is like the field for amount and stake are grayed out

[cunning perch]

So still nothing? Idk really then. Maybe Carlos can help you with it, you can find his name some messages up. Just tagged him.

[young harness]

thank you I'll try with Carlos

[brisk surge]

Ive the exact same issue for last 4 weeks!

[brisk surge]

Did you get it resolved? 'm trying to stake 40ILV and same error comes up all the time.

can you stake ILV directly from a nano x?

is the option to stake from MM wallet on iphone been removed?

[brisk surge]

I don’t believe so

[unborn solar]

Is there anyplace to see how many ILV and ETH are in 1 SLP at the moment?

[elder dawn]

https://app.zerion.io/invest/asset/SLP-0x6a091a3406e0073c3cd6340122143009adac0eda 2.5 ILV and 0.43 WETH

[flat grail]

hello is it worth staking now in sushi?

[sage mortar]

SO silly question time. Once we start getting REDIVS from our staked tokens, will it be ILV that goes straight to our associated wallet and is unlocked or does it go to our rewards dashboard and have the year lock up on it?

[elder dawn]

Revdis ILV will be unlocked, but likely some claiming action will be needed. it will not automatically be staked.

[flat grail]

I have a question I have 20k should I stake all of it or save half of it for land sale

[timber lake]

if I claim my rewards as sILV, they become available immediately?

[brisk surge]

Yes.

[timber lake]

cool, thanks!

[glass surge]

That’s a tough one because we don’t know how much the floor price of the cheapest tier 1 land will be. If you stake you most probably won’t earn enough staking rewards to reach whatever that floor is judging by numbers people have thrown about.

If I was in your position I would buy some sILV (Be careful and use official contract address) at a discounted price with some of the 20K and with the rest buy ILV and stake. Then you get the best of both worlds, but do your own research as you know your situation best.

[flat grail]

Where can I get sILV?

[glass surge]

Here’s the contract address which you can put in sushiswap or uniswap, but search the server and double check some official links.

sILV contract address

0x398aea1c9ceb7de800284bb399a15e0efe5a9ec2

Ps. This isn’t risk free because imagine you buy 5K worth of sILV but the floor price is much higher then you would have to sell in these unofficial pools, use in game or buy more to reach floor price.

[flat grail]

Ok

[clear pelican]

How long does it take for a FLASH POOL to become complete or closed for stakers? Im looking to stake LINK but need time to get it to my metamask.

[exotic igloo]

Link is 4 weeks

Normally its 2 weeks but we agreed to make it longer because of gas

[exotic igloo]

Uniswap has the most liquidity

Sushi barely have anything

[brisk surge]

Iv got 100 staked now. Lets go

[obsidian nebula]

What factors determine the APY for the core pools?

[clear pelican]

Im curious on this since as of this message. LINK TVL is at $10k...

[floral widget]

Sorry want to check what is the APY for link?

[exotic igloo]

Price of token, amount of token in the pool, your token weight compared to all other tokens, normal reduction of -3% of token distributed every 2 weeks.

APY is a dollar metric

So it isnt really precise

Gets recalculated every block (13 seconds)

[merry socket]

Is there a report showing ILV rewards for staking? Have not seen my rewards amount change in over a week, seems odd. Or its such a small amount it hasnt rounded up as they only show 2 decimal points?

[brisk surge]

if you only have a very small portion staked then this could be the case

[merry socket]

@brisk surge Have 3.7 staked, all I could afford. It went up first couple days to 0.03 but hasn't changed again in over a week. Has the total staked pool went up substantially this past week? Aka my % of pool went down a lot

[exotic igloo]

Every claimed ILV goes into the ILV pool

So thats a lot everyday

[brisk surge]

I feel like in a week it should have changed if you have that much staked

[plain marsh]

Have you refreshed the webpage… I’ve noticed that the numbers on the dashboard will sometimes freeze until you hit F5

[exotic igloo]

I should yea

[merry socket]

@plain marsh yep, on an ipad pro but maybe i'll log in on different device tomorrow and check, good idea

[fallow gate]

I have my coins on nano s ledger and was wondering which one out of metamask and trust wallet is safer to use as a bridge to stake my coins over 12 months or there isn’t any difference?

[exotic igloo]

Metamask easier connectivity

[elder dawn]

For the ILV, it's just number of rewards tokens and staked tokens. For the SLP, its eth price, ilv price, ratio thereof, staked tokens and rewards available. Write up here, video coming soon. https://www.publish0x.com/ilvfi/apy-is-dumb-what-really-matters-in-staking-with-illuvium-xrnxpmz

[fallow gate]

Thank you

I’m really new to crypto so apologies to ask this. But once i stake the coins on illuvium website for 12 months and now having them on my ledger, Does my coins freeze in my ledger for that 12 months or will be moved to illuvium site?

[young harness]

@brisk surge Sorry I got disconnected. No I wasn't able to fix that problem. I'm thinking that is because I never got the prompt to approve my wallet, it simply connected no prompt to approve. so I don't know if that is the problem. Please let me know if you find out how to fix it as I'll make sure to let you know if I find a solution.

[vital sail]

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

[brisk surge]

Can I check after adding additional SLP to stake, why does my reward changes from 0.12 ILV earned to 0.00052 ILV on the rewards page?

[exotic igloo]

Deposited in the pool contracts

So no longer in your wallet

You can check the contract audits on the website

[brisk surge]

Where do we check the prices of 1 SLP?

[exotic igloo]

!contract

[woven ibex]

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

[exotic igloo]

Paste the SLP contract in etherscan

You will find it

[brisk surge]

Ok thank u

[daring gale]

newbie question - if i stake ilv on the sushi lp, say, locked up for 20 weeks - after the 20 weeks - am i returned my coins, free to sell them? or are they then locked up, vested, for another year?

[exotic igloo]

Your deposit of SLP remains staked but it is then unlocked after those 20 weeks. So you can withdraw it or leave it there. Your rewards that you claim will be ILV and those will be locked 12 months in the ILV pool.

[fallow gate]

So is there a point to ledger at all when you staking it. And at the point of depositing it, is that when I enter my personal data?

[exotic igloo]

Never enter any personnal data or seed phrase anywhere.

[daring gale]

so the rewards i'm paid out are locked up for 12 months as vested, but the coins i originaly staked are returned to me?

[exotic igloo]

Your tokens being staked from your ledger protects them cause no transaction can be made without interacting with youe ledger wallet.

[exotic igloo]

Not returned

They remain staked, but unlocked. You decide what you do with them.

[fallow gate]

Thank you so much

[daring gale]

so - the vested coins, which are my staking payout - are locked up for 12 months - but the original staked coins are free to be withdrawn immediately?

[exotic igloo]

After your locking period yea

[daring gale]

awesome, thanks

[vital sail]

Hey guys, noob question. I've read loads or articles and YT vids, though still not clear on the following:

How does the Sushi LP achieve it's compounding APY? Is it dependent on claiming ILV rewards and staking them in ILV single pool? Or, does the Sushi LP somehow autocompound (extra ETH+ILV) with the ILV rewards being an extra bonus?

[exotic igloo]

The compounding is the ILV rewards getting locked in the ILV pool for 12 months at 2.0 weight.

So the ILV pool APY.

[vital sail]

OK, thanks. So, interest from Sushi LP is linear APR? with compound resulting from ILV claim/stake rewards (less gas fees)?

[exotic igloo]

Less gas fees?

Both pools have fluctuating APY.

Every block

[vital sail]

To achieve the advertised APY from claiming/staking rewards, you'd need to optimise strategy in terms of claim frequency, claim fees ?

[exotic igloo]

Advertised APY is what you get at that moment. Always fluctuating.

Compounding isnt calculated

Thats for you to decide yea

[vital sail]

If APY is dependent on claiming/staking ILV rewards from SushiLP, in to the single ILV pool, then wouldn't the APY received depend how often you claim/stake and the fees incurred?

(think you said achieving APY is dependent on claiming/staking LP rewards)

[exotic igloo]

APY is a trash metric to begin with

Shouldnt even look at it haha

Its confusing

Now I dont know what you mean at all

When you claim your rewards, they are vested in the same transaction.

[vital sail]

ha, so let me ask another way: if I don't claim the Sushi LP rewards, is there any compounding in the Sushi LP?

In a traditional LP that compounds, you'd get paid extra LP1/LP2 tokens in the pool

[exotic igloo]

No

That was more clear hahah

[vital sail]

haha! 😄

So, basically to achieve APY/compounding, claiming/staking the rewards is required, otherwise you'll just get a steady/linear payout of ILV accumulating from the Sushi LP pool?

[exotic igloo]

Yea

Doing nothing just waiting to be claimed to start the vesting period

[vital sail]

Cool. Thanks for patience!

[exotic igloo]

No worries

[vital sail]

Is there a pretty accepted claim/stake frequency people are going with? e.g. weekly, monthly

[hollow kelp]

That would be totally dependent on 1. How much is invested; if small amount then no point since gas outweighs gains and 2. How often people want to obtain compound (again gas would hold a big factor here)

[vital sail]

Sweet, I'll take a look at some of the claim calculator spreadhseets

[exotic igloo]

I have a okay stake and still only claim once a week when gas is low

Otherwise it would cost me like 100$ in gas everyday

[hollow kelp]

Yea I've just dipped my toes and gonna collect whenever I get 1 ILV for compound i think (at low gas)

[wide eagle]

whats your draw ratio just curious, im willing to pay 10% of reward claim fee on the rewards, im yet to claim though

[exotic igloo]

Less than 0.1%

[wide eagle]

got ya👌 thanks

[vital sail]

Is there a fee for claiming rewards + fee for staking to ILV pool?
what's the cheapest total, roughly, during low periods?

[clear cape]

Rah’s stack is in the hundreds of thousands, it will be nothing haha

[timid patio]

Only claim once a week sheeesh men

[elder dawn]

I agree with the strategy, I think most people over claim. The impact of under claiming isn't as much as many think.

[brisk surge]

imagine having enough staked to claim once a week thats amazing

[coral plume]

Anyone know the approx daily ILV earned per SLP staked?

[gloomy gazelle]

What does the math say?

I don’t know the top two variables at the moment. But last I knew 1slp was close to $2500 and apy 550%. ILV is $500ish so…

0.075ish if I did the math right. And if those are the proper amounts.

[coral plume]

Yeah maths on that are correct utilising those assumptions

[gloomy gazelle]

APY is 537%. So it’s pretty close to accurate.

[vital sail]

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

[gloomy gazelle]

Yup. Good numbers then

[vital sail]

Guys, not trying to FUD here, just understand. If the SLP pool pays out linearly (requiring claim/stake-->ILV Pool to compound), would it not be more accurate to show simple APR for SLP pool?

Is using an APY value a bit of a marketing tool?

[gloomy gazelle]

I don’t see how it does show APY. I think it actually shows apr. there’s no saying how often it compounds. Since that is done manually and even into a different pool.

Maybe I’m wrong with how the “APY” percentage is calculated but I think it should probably just say APR.

[vital sail]

All labels are APY

But 500% APR would be just mental. My understanding (pretty new here!) is that it's the achieveable APY after claiming/staking the linear ILV rewards. And, if so, the APY would be very much a guesstimate, variable based on how oftern you claim, fees incurred etc

[gloomy gazelle]

Nope. It’s just that good right now. They are giving away 3million ILV in three years. And most of it in the first year. And less than 1m ILV is on the market let alone staked. It’s just really good roi

You should have the apy on day one of staking!!!!

[brisk surge]

I may just try to move all coins to another MM walle and stake from there as the error seems to be the wallet not the ILV site or staking section. Only issue is i have 5 ILV already staked to this address of the current MM wallet. I thought i was going crazy being the only one to have come across this issue on the discord but glad someone else is feeling my pain. Every day that goes by ive the FOMO effect as i've 40 ILV ready to stake!

[left shore]

@midnight geyser @hexed bough hi

[sullen blade]

Im trying to unstake from the main ILV pool and it fails every time with the following error: cannot estimate gas; transaction may fail or may require manual gas limit (error={"message":"execution reverted: amount exceeds stake","code":3}, method="estimateGas"…

Anyone have an idea of how to fix this?

[wintry hill]

Hey guys, bought ILV and made my first stake 2 weeks ago using Sushiswap. Now, I would like to add more. I'm planning to use Binance this time. It's cheaper in terms of transaction fees, right? If I do so, what's the process? Should I just transfer from Binance to the MM address that I used to stake? Will my ILVs automatically show and will they be immediately "Stakeable"? (Not sure if that's even a valid word)

[sonic lotus]

yea its that simple.

[brisk surge]

You have to claim your rewards (with transactions) after you can stake more, so prepare some more eth for the fees : for the claims and the new stake process.

[wintry hill]

is it better to use different MM address then?

[young harness]

@brisk surge I figured it out!!! The reason why the "max" button wasn't working is because I only had eth in my wallet, I had to convert my ETH to ILV and then stake.

Just make sure you have enough ETH in your wallet to pay the miners fees.

Once you have converted to ILV then connect the wallet to Iluvium staking site.

I really hope this helps.

[cunning perch]

#🥩〕staking message

[brisk surge]

I thing no, because after you will claim every wallet also with fees, and with one account you will claim and compound all in one. Better one and ''suffer 😩 '' one time for the fees. I have done it also because i thing long term.

[wintry hill]

thanks mate. I'm bullish about the project as well 🚀 🚀 🚀

[flat grail]

why is the apy rate rapidly decreasig?

[sacred cosmos]

More people staking

[paper parrot]

btw do i need eth and ilv to stake in the sushi pool or does it automatically cut my ILV in half providing 50/50

[brisk surge]

Need both on sushi before

[manic spindle]

!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

[paper parrot]

i see

[willow vapor]

Sorry noob. Just using APY calculators now. If i stake core 2 ILV for 1 year at 66% APY, does that mean it will be 3.80 ILV by then? Thank you so much for anyone who can confirm. Thanks and stay safe!

[cunning perch]

Hey. It's a rough estimation. APY keeps on dropping as more ppl join and more rewards are claimed which will compound in the single pool. For now it's high. in future, it will be way lower

[willow vapor]

Thanks. I got that, decreasing APY, but for example it didnt change, was my calculation correct? Thanks again

[cunning perch]

Quite right and yet not possible 😄

[willow vapor]

And the gas fees on playing with just 2 ILVs 😅

[cunning perch]

gas is meeeeeh now. Not super high not super low. But Gas varies by the second

[hazy token]

has anyone here gone to the trouble of claiming sILV, converting to ILV and ETH and adding to the SLP pool?

[cunning perch]

I haven't but it's pretty much possible. You claim sILV, change it to ETH on Uniswap, swap ETH (half of it in terms of $) with ILV and stake it in LP. You pay a lot of gas though.

[hazy token]

A lot of gas for sure rn. After seeing someone suggest it yesterday, I ran through the numbers based on random average APYs and it could be worth it as long as the quantities of sILV are high enough to offset the gas

[cunning perch]

yeah. for now sILV is being traded half price to ILV. so you need quite a decent amount to be worth the effort. I personally wouldn't do that. Why sell half price when I can claim the same good batch in ILV and start compounding immediately and not pay 10 gas fees 😄

[hazy token]

the logical answer to that question is that the SLP APY, if it remains say about 200% over 12 months, would bring in more ILV rewarded. But it still feels like it would be a headache to do 😅

[cunning perch]

That's a maybe and depends on the market. Still it's an effort I'd rather not undertake. If I were to join SLP. I would do it with minimum $2500 ETH + $2500 ILV. For that, I need to burn a lot of sILV already. So I would just claim ILV and enjoy the compounding effect and not experience the headache as you said 🙂

[hazy token]

right, agreed there on all counts

[ionic sigil]

do we know how many tokens are locked in the staking platform?

[cunning perch]

Maybe this can help you #🥩〕staking message

[rough swallow]

Does it make sense to stake Sushi LP even if I only put 200$ into it?

Also: What do you think will give you more income: ILV or Sushi LP?

[hollow kelp]

Nope. Basically your entire investment goes bye-bye coz of Gas

[rough swallow]

So you need to invest a lot to make a profit? :/

whats the minimum of money to put in, in your opinion?

[cunning perch]

There is no minimum as long s it justifies paying gas for. (each reward claim needs gas)

[rough swallow]

will the gas fees get lower in the future? or is now still the best time to buy?

[sand carbon]

is there some way to calculate the link flash pool ?

[manic spindle]

No, because it is impossible to estimate how many will stake there and how much. Pool weight will be 2% that's all that can be said with certainty. For more about this, please use #870290845612507176 thanks 🙂

[manic spindle]

Gas fees certainly can go lower than 50 Gwei. Also, you can buy ILV on Binance or KuCoin now as well. For more about the ILV token, please use #💰〕token thanks 🙂

[sonic lotus]

I'd say try and time it between 30-40 Gwei

[hot owl]

Are there any plans to allow users borrow against the the staked ILV, as collateral?

That would be a nice feature

[merry ridge]

Wow Link Flash pool! All I can say is Hooraaa!

[feral flicker]

any idea what will be APY?

[primal zodiac]

Same question 😄

[feral flicker]

I wanted to buy some link for a time .. if there is some nice return, I might consider it 😄

[quiet prairie]

What is the advantage in staking on flash pools?

[cunning perch]

If you have lots of LINK (for example) you can use it to farm ILV or sILV for two weeks. Just have to pay for gas.

[worthy peak]

Also its 4 week this time "The flash pool will remain active for 28 days."

[glass slate]

do we know what an estimated APY will be for the link pool?

[cunning perch]

yeah and that 🙂 28 days

[quiet prairie]

Oh great! Thanks.

[glass slate]

also, another question, is there any plans to remove the vesting period on ILV?

[cunning perch]

Not until it starts and ppl join in. Impossible to know how much LINK will be staked

[wheat jolt]

Would be great to stake sLink on L2 in the flash pool

[cunning perch]

No. It will also increase with V2. "if you want 2X weight after the implementation of V2, you will have to lock your tokens for 2 years"

[flat grail]

hello can you guide the flash pool stake for me

[cunning perch]

it's the same as Flexible pool, but you stake LINK instead of ILV.

[flat grail]

do flash pool give good returns?

[cunning perch]

Depends on the amount of LINK staked, but it will not be as ILV Core Pools in which you can stake long term. It's good for those who cannot farm with their LINK

[flat grail]

how much apy did the last flash pool give?

[cunning perch]

unfortunately I don't remember as it was a long time ago. You'll see once it offcially goes live

[flat grail]

are you investing in it?

[cunning perch]

Nope. I don't have LINK to invest it in.

[flat grail]

where can you get link?

[cunning perch]

Link = Chainlink. You can get it from any CEX afaik. Binance also sells LINK.

[flat grail]

oh is there a link for binance?

[cunning perch]

you can just open Binance or CoinBase and type LINK in the search bar. That should do it

[flat grail]

ok

[primal zodiac]

Typically speaking the flash pools have a higher return than the standard core pool or?

[cunning perch]

It is $23.69

[cunning perch]

def not as they are short-lived pools. This time only 28 days.

[manic spindle]

Just FYI, we do have this channel for flash pool specific discussions as well: #870290845612507176 thanks 🙂

[primal zodiac]

I don't mean comparing 28 days to a year, but if you were to compare them based on daily return

[tacit vigil]

is there any option to reinvest my rewards in pool again

[cunning perch]

Right now ILV pool has about %66 and SLP has over 500. We'll need to see what percentage would LINK get as there are tons of ppl that can join which would kill the APY altogetehr

[hollow kelp]

I see you Mr Pandora xD

[primal zodiac]

Ah, so less people = better return?

[tacit vigil]

https://tenor.com/view/burn-in-hell-elmo-fire-flame-gif-8764555

[cunning perch]

when you claim your rewards in form of ILV it will compound. You don't need to reinvest it. jyst claim it and it'll get locked for one year

[cunning perch]

ofc. Remember my example of lemonade. More water, the thinner it gets.

[mellow hull]

Is there a place where I can read about flash pools? I don’t understand the point.

[manic spindle]

#870290845612507176 message 🙂

[mellow hull]

Thank you

[cunning perch]

The point: You have a coin (previously like AXS and this time like LINK) that you cannot stake properly? At least you can use it to get something out of it here.

[mellow hull]

Thanks as always Arash

[silver nebula]

Where do I read staking rewards for flash pool compared to core pools? In absolute values rather than APY

[cunning perch]

Flash pool has not started yet, so the APY is not clear. When it launches and LINKs end up being staked, you'll see the APY

[silver nebula]

Understand, I wasn't asking for APY. how much ILV yield is on offer for the 28 days?

(for the total pool)

[vague sierra]

anyone know what causes this error message? i already tried to delete my cache

[cunning perch]

@manic spindle can you relate to that?

[cunning perch]

#🥩〕staking message

[vague sierra]

your a lifesaver👍 it was the decimals it seems 😄

[proper relic]

What is the value of flash pools besides advertising?

[light tiger]

What is the APY for staking ILV?

[cunning perch]

its %66 for ILV pool and +500 for LP

[cunning perch]

#🥩〕staking message

[manic spindle]

2% of the total amount of yield farm rewards paid out in that period are allocated to the flash pool

[cunning perch]

perfection 🙂

[silver nebula]

so 2% flash, 20% ILV, 78% SLP/ILV?

[manic spindle]

No, both core pools lose a tiny bit due to the flash pool

https://staking.illuvium.io/staking/0x25121EDDf746c884ddE4619b573A7B10714E2a36/analytics
https://staking.illuvium.io/staking/0x8B4d8443a0229349A9892D4F7CbE89eF5f843F72/analytics

[silver nebula]

perfection 🙂
Thanks @cunning perch / @manic spindle

so approx. $4.75m in LINK staked results same rewards as 1 year lock in SLP.
If more staked then SLP better, if less staked then LINK Flash pool better

[lyric folio]

I am currently staked in the SLP core pool and have some unclaimed rewards. I want to add to my SLP staking (via additional funds). Do I need to claim my rewards first (and pay gas for that claim), or can I stake additional SLP without claiming the rewards yet? Note I am working with relatively small numbers so minimising gas is important

[spiral flame]

Right now, you need to claim all claimable rewards (however small) before you can stake again.

My portfolio has lots of 0.0000xxx ILVs because of this 😅

[lyric folio]

OK thanks. So do I need to claim, and then stake new SLP immediately before some tiny amount of reward comes through?

[spiral flame]

claiming and staking will be one transaction iirc

Yes, you dont need to claim manually

[lyric folio]

Ahh ok got it. Thanks guys! [would tip if I was not a plankton]

[soft prairie]

do you need to have ETH in your wallet to pay the gas fees or can you pay gas fee with ILV, or with LINK with the flash pool

[spiral flame]

you need eth\

[stiff arch]

Hi I have 1,97 ILV and I was wondering whats the best way to stake it. Should I get into this new flash pool? Or do I just stake it in ILV core pool

[cunning perch]

you cannot stake ILV in flash pool. it's for LINK now

[lyric folio]

The new flash pool is just for staking LINK

[stiff arch]

Okok thanks

[paper parrot]

is it not very risky to lock it in 12 months in the liquidity pool since there is a higher chance that the ratio between ETH and ILV will be so far apart

[next ruin]

Should be more than made up for by the very high APY, but that's something each person needs to decide for themselves

Probably don't post a link with zero context. People will be very hesitant to click it (for good reason)

[manic spindle]

@low granite I deleted that link. No context and no activity on this server so far - looks shady and we're very cautious here when it comes to people postings links.

[low granite]

ok, it was just an image with a quick calculation of the possible APY of the link pool

since I can't post images here

[paper parrot]

that could be true @next ruin

[agile fiber]

What's everyone's strategy for claiming rewards? Weekly, bi-weekly?

[cunning perch]

depends on your stake. Whenever your comfortable and whenever claiming justifies paying gas for is a good time to claim

[next ruin]

Depends on the size of the stack - gotta make sure the rewards for compounding are outpacing your gas payments by a reasonable amount

[cunning perch]

@next ruin brothers in arms lol

[next ruin]

Late on the draw. You win this time...

[agile fiber]

Assume more than 5k in rewards per week. You'd still wait at least 1 week to claim or every couple of days?

[brisk surge]

Do I just buy ILV straight from binance?

[cunning perch]

I claim when gas = 1% of my unclaimed rewards

[cunning perch]

you can buy straight from Binance, send it to MM and stake it in ILV pool

[brisk surge]

Sending to meta is free right?

[agile fiber]

Looks like 1% would put me around 2 weeks for now, so sounds about right.

[brisk surge]

May I know how much have you staked

[next ruin]

I think Binance charges a fee (paid directly out of your ILV balance) to transfer.

[cunning perch]

yeah. anyhow claiming is set manually so everyone should do it when they are comfortable with it. For me, the scenario I told you has worked nest so fat

[cunning perch]

No I guess it takes out about $10 or something

[brisk surge]

Is there any other way?

[cunning perch]

Not if you want to buy from Sushi and pay gas fee (now around $100)

[agile fiber]

I've only staked once in SLP and was planning on staking again in SLP, does that claim rewards for staking again?

[brisk surge]

Only got 1k to stake better use it right 🤣

[cunning perch]

when you stake again it will ask you to claim your rewards too. (in SLP). Literally you wil have to claim rewards

[cunning perch]

sending from Binance to MM makes more sense now.

[brisk surge]

What is slp if I may ask

[cunning perch]

Sushi Liquidity Pool token

[cunning perch]

!LP

[woven ibex]

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

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

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

[brisk surge]

Thank you!

[agile fiber]

Got it. And if you claim rewards in SLP, the payout is in ILV? So is it better to just stake your rewards in the ILV pool or if you want to stake your rewards back into SLP, then you have to provide more ETH for liquidity?

[brisk surge]

What can you suggest I do? All in ILV?

[cunning perch]

!claim I suggest reading this

[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.

[tawdry kraken]

Hi Everyone, I'm trying to wrap my head around Staking. What it is, how to do it, The objective of it and also how the (earnings) translate to tradition benefits (cash). Happy to take this into a DM to prevent people having to repeat themselves.

[cunning perch]

There is no suggestion really as one knows what's best for them and everyone's plans are different so take advice from no one but yourself. 🙂 We will help you with any question you have

[agile fiber]

Thank you

[cunning perch]

!read hey. I suggest reading these and probing #🔗〕helpful-links

[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

[true grotto]

how safe is the staking contract? are we eligible for a refund if a breach happens? talking about the flash pool LINK

[cunning perch]

It is pretty safe. In terms of breach you will need to ask devs tbh.

[hollow kelp]

Is purchasing ILV through binance then going into sushi LP cheaper gas wise than getting the ILV straight outta sushi?

[cunning perch]

I do believe so. Binance might take out $10 for transfering fee. Sushi takes about $100 now just for the swap of your token to ILV

[brisk surge]

i would like to stake but idk
i kinda fell like it must be at least 2k toherwise youre losing a bit in the progress because of the gas fees

[hollow kelp]

Goddang it. Gonna need to make a binance acc hahaa. Has sushi prices gone up or somethin?

[cunning perch]

you're talking about LINK? if so, yeah if you haven't got that much then staking might not sound logical as you may lose a lot on gas

[brisk surge]

exactly

[cunning perch]

ILV is going down now due to the market downtrend. But gas, yeah it's a bit high now. YOu can see the exact $ on Gasnow.org

[brisk surge]

even 2k isnt alot so yeah

[true grotto]

so if i stake LINK in the flashpool and earn ILV, then claim the ILV. those claimed ILV will vest for 12 months and auto-stake right?

[hollow kelp]

Oh $100 coz of current gas, gotcha. Yea i try to avoid anything over 40 gwei haha

[cunning perch]

yes that is true. Unless you claim sILV that would be released immediately to be used for Land Sale and in-game purchases in the future

[manic brook]

Was about to put more into SLP, but spotted Keiran's announcement re. the flash pool. Thoughts on the best way to go or advice on how to choose?

[cunning perch]

Flash pool is for LINK not ILV or SLP 🙂

[late wagon]

hello guys. i have 4.0 link now. is it worth sending it from binance to metamask and staking ? what do you think ? thanks

[cunning perch]

Personally I don't think so as you'll have to pay Binance fee, approval fee and staking fee + fees for claiming rewards. It'll be +$120 with the current gas now.

[late wagon]

ohhhh ok i get it thank you 🙂

[late wagon]

you mean we get link from this flash pool ? not ilv or slp ?

[granite halo]

I am not gonna even lie. The thing I am most excited to see is the ILV Zero land sale right now. I am sure we are gonna get like a total of 50c per ILV in revdis, but it is still gonna be fun.

[cunning perch]

You will have to choose your rewards between ILV and sILV each time you claim.

[slender remnant]

Hey guys, is there a simple document explaining the flash pools?

[next ruin]

No, for the flash pool you STAKE Link to earn ILV or sILV

[jade rampart]

I only have 1k worth of LINK and gas fees are 100$ is it even worth it. Est apr says 0

[manic spindle]

More or less everything there is to say about it: #870290845612507176 message 🙂

[slender remnant]

Thanks, has anyone participated in other flashpools? If so do you think it would be worthwhile to stake around 100 link? Probably end up paying $100 in gas

[manic spindle]

Impossible to predict. Personally, with 100 LINK I would wait until the pool has started, check APY right then and evaluate whether or not it might be worth it (considering APY probably will drop even further then). 100 LINK for me wouldn't be enough to make this a no-brainer. But this is just my opinion 🙂

[agile fiber]

For the ILV and SLP pools, how are you all treating the staking rewards as far as tax purposes go? Hypothetically, if you're getting thousands (in USD) per week and claiming often, then each claim counts as 'profit' and additional income, right?

Thats a lot of additional income after 1 year

[next ruin]

I've seen conflicting information about staking rewards. I've seen some show it as other income based on the cost at the time of claim and others treat it like holding stock at zero cost basis, basically deferring the tax event until capital gains at the time of selling. Honestly not sure which is considered correct, need to do more research for sure.

[brisk surge]

I think, you claim it but can have and sell it, so i think the time you become it really and unlock it, that is the moment for the tax to play has staking rewards not before. Before it is not in your wallet.

[gloomy gazelle]

Let’s not talk about TAXES at all. That’s a discussion for people to have with actual financial advisors.

[agile fiber]

Yeah, I was wondering if it would be better to pay tax on it quarterly instead of waiting until the following year to pay a lump sump. Obviously not looking for tax advice on here, just trying to get some perspective on what to do here so I can plan my taxes accordingly.

[gloomy gazelle]

Too many countries and laws

[agile fiber]

Thats true, didn't think about that. I thought #🥩〕staking would be the best channel to discuss this, but maybe not.

[gloomy gazelle]

Yeah we really just shouldn’t discuss that at all. Other than saying taxes are hard and taxes are important… get an accountant.

[slender remnant]

Thanks 😊

[pearl trout]

How do you withdraw afterwards?

And what will Illuvium need link tokens for in a short time period?

[next ruin]

To withdraw, you'll go to the "Vesting" tab on the Illuvium website and pay gas to retrieve the staked tokens. Illuvium does not need or use the staked LINK - it's a way to pull new eyes and investors to the project.

[pearl trout]

@pulsar olive sent me here 🙂

[restive egret]

I'm also abit lost, will read up on the links you guys sent and hopefully get some more answers

[pearl trout]

Got you, I will add some link 🙂

2% yield, seems to be approximately what you distribute monthly, so this seems nice.

[terse wigeon]

What wallet do you recomment for illuvium? Because I dont have any of the ones needed

[cunning perch]

MM is best. Used with a Cold Wallet makes it even better and safer

[terse wigeon]

It doesnt show mm

[cunning perch]

You have to add the token (ILV, sILV, SLP) manually on MM (MetaMask)

[terse wigeon]

I mean on the ilv website when you click connect wallet it doesnt show mm

[cunning perch]

If using Mobile, you have to use Wallet Connect (MM is there). If using PC, MM is a separate option.

[terse wigeon]

Even on pc dont see mm will try walletconnect

[cunning perch]

This is PC

[cunning perch]

This is mobile

[terse wigeon]

Mine shows all of those minus mm

[finite willow]

Is it worth staking only 1 or 2 ILV?

[cunning perch]

update you browser and your applications. Make sure you are using the latest update

[cunning perch]

Long term, sure. Short term, not so much tbh 🙂

[finite willow]

Will staking make the game more enjoyable to play for me?

[cunning perch]

staking is investment. Playing the game has other dynamics. They are not related at all. You can do either or both 🙂 Not staking doesn't mean you can't play

[terse wigeon]

It the end it worked with metamask thanks

[next ruin]

If you stake, you can claim your rewards in sILV which can be used to pay some fees in the game. Everything can be paid for with Eth, so there isn't any game advantage for staking.

[cunning perch]

Happy to help 🙂

[tepid portal]

when will i get the LINK back after sticking it in flash pool

[next ruin]

I believe all of the flash pools are flexible staking, so you can withdraw whenever you want. You will have to go to your "Vesting" tab on the dashboard and pay gas to move them back to your wallet.

[tepid portal]

okay

and are people getting the current APY even though it says opens in 29 hrs?

[pearl trout]

This flash pool holds LINK tokens. The flash pool will start at block 13321125, and will be completed at block 13516748.

[next ruin]

Rewards haven't started ticking yet.

[misty karma]

Your apy isn’t locked in so what you see now is very likely not what you’ll actually get

For that to happen you’d need no one else to put any more money in

[quick socket]

What is the reason to offer staking rewards for chainlink? early investor in the game?

[burnt copper]

Promotion

[tepid portal]

One last Q lol what do I get back from staking LINK? More link or like ILV/sILV like the core pools? this is my first flash pool and I always hold LINK in my MM wallet!

[next ruin]

Rewards for the flash pool can be claimed in ILV or sILV like the core pools.

[tepid portal]

Ty

[edgy plinth]

So,,, soon we can stake our LINK and earn ILV for them? Whats the risk?

[pearl trout]

Question regarding the contract address, there is 1 out transaction, for just under 1 link. Follow this through, it ends up at FTX. Why?

[edgy plinth]

For how long will my LINK be locked? Anyone?

[celest badge]

Can someone give a rough estimate of the apy of the link pool. And does someone know what previous flash pools have been like in apy?

[next ruin]

It's a flexible stake, so you can withdraw at any time - just have to pay gas

[edgy plinth]

I think I saw somewhere it's only for 28 days? Is that correct?

[next ruin]

Correct, rewards will stop accruing on staked LINK after 28 days

[elder dawn]

I just put together a quick article and video on the link flash pool. I dont mess with apy since its deceptive, so I put together a calculator that determines ILV rewards based on TVL of LINK. https://www.publish0x.com/ilvfi/illuvium-chainlink-flash-pool-starts-9292021-xglngyv

[pulsar olive]

Ask this at #870290845612507176

[next ruin]

https://tenor.com/view/were-not-worthy-waynes-world-gif-9201571

[celest badge]

Thank you!

[misty prairie]

Hey guys, I saw the new flash pool in up. Is there any greater incentive to the flash pool over the current pools?

[next ruin]

Not really, if you've already got a big pile of LINK sitting around it's ILV "for nothing." If you are only really interested in ILV no reason to go out and buy LINK to stake there.

[worn palm]

Derajis review of chainlink flash pool now in #🎨〕community-content

[pearl trout]

I do not have permission to post in there

[pulsar olive]

Need help @exotic igloo @manic spindle my Fren @billcant access #870290845612507176

[ripe steppe]

Its because youre still new and havent messaged much on the discord

[manic spindle]

You need Rank 2+ to be able to post in there because it is under Governance. This is being looked into already though 🙂

[pearl trout]

No problem, can someone answer my question?

[ripe steppe]

I dont know… @manic spindle any clue?

[timid patio]

Stormi

[manic spindle]

Not sure if I understand the question fully, sorry.

[brisk surge]

might be a silly question but what does 2x mean when you're staking - does it mean if i stake 40 ILV im getting exposure to 80 ILV AMY?

[manic spindle]

2x probably refers to the token weight which requires the maximum locking period of 12 months and causes your staked tokens to count double when it comes to the calculation of rewards 🙂

[brisk surge]

so my 40 ilvs will actually get exposure to 80ilv return?

[manic spindle]

If you staked 40 ILV for 12 months then this gives you the same amount of rewards as someone who staked 80 ILV without any locking period and thus only gets 1.0 token weight rather than the 2.0 that you have, yes.

[lime moth]

Revdis gets doubled too right?

[brisk surge]

smashing- thanks a million! do you know if revdiv is only applicable to tokens that are staked when the game is live?

[manic spindle]

Both Yield Farm rewards and RevDis take token weight into account, yes 🙂

[manic spindle]

Any staked ILV is eligable for RevDis when it is paid out and there will be revenue coming in before the game is live (f.x. Land Auction and Illuvatar Sale)

[brisk surge]

IS there any downside to the opportunity here??Just seems like we are on to the biggest winner possible in the p2e and esports space. so glad i got in back in july and buying monthly

[manic spindle]

There is always a risk when investing into something and no one can give you a guarantee. But my personal opinion is this: https://twitter.com/fireblade_storm/status/1442766879869767683 🙂

Stormi (@fireblade_storm)

I keep looking for the next big thing when it comes to crypto gaming and spend hours of my time researching, only to eventually realize over and over again: I'm already heavily invested in it. @illuviumio is going to show new heights for play2earn in 2022, no doubts about that😎

Twitter · Sep 28, 2021, 8:23 AM

[brisk surge]

you have the finger on the pulse in a big way! top class!

[brisk surge]

could i kindly ask for a price prediction on next 2-3 years? you seem to be really well informed - im only new to this

[queen horizon]

That's the crazy thing here. I try to find soemthing that could compete with ILV but there just is nothing. Also looking into #🚰〕leaks thi game will be a banger and still so much under the radar

[manic spindle]

This would probably be more suited for #💰〕token where you can find a ton of speculation around that already. Personally, token price is something I speculate on very little though. The only thing I'm willing to say at this point in time would be that I fully expect ILV to stabilize around ~$1500+ within 12 months of launch and how much more it could possibly be is left to be seen 🙂

[pearl trout]

Once the flash pool closes, and you are rewarded ilv, do you need to stake them for 12 months or can you sell?

[manic spindle]

!claim Flashpools rewards follow the same procedure as core pool rewards when claimed 🙂

[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.

[pearl trout]

Got you, so 12 month lock period which will be worth a fortune next year

[autumn cloak]

Speaking of the illuvatar sale, is there any news on that yet?

[manic spindle]

Aside from this little Teaser, no, nothing publicly disclosed just yet to my knowledge 🙂
#795845536128303175 message

[autumn cloak]

Gotcha thanks

[pearl trout]

Locking for 12 months is very smart

It will not make token price fall and can bring good exposure

[brisk surge]

If i've no intention of playing the game or using sILV do you reckon i should only stake ILV and claim in ILV?

[shrewd pivot]

If I stake on the Sushi LP, I would receive sILV? Would there be a way to convert the sILV to ILV once the vesting period is over?

[next ruin]

You would have the choice to claim your rewards as ILV or sILV. sILV if claimed is unlocked immediately, so no vesting period. There is also no intention to support swapping sILV to a different currency, it's like a gift card for the game.

[lime moth]

quick question, when acquiring slp from sushi, it doesnt show on MM, why?

[next ruin]

You may have to add it manually to MM? The contract is listed in the pins.

[lime moth]

isnt claiming rewards before adding new stake is necessary? I had pending rewards in ilv pool, when trying to stake slp, it didnt ask me to claim rewards, is it normal?

[ripe steppe]

claims them automatically when you stake no?

[lime moth]

no, they are not claimed. Well, i am not complaining they were just 0.13 ilv not worth the gas fees. but its just weird i guess

[next ruin]

https://tenor.com/view/brooklyn-nine-nine-loophole-peralta-boyle-loophole-high-five-gif-11942081

[lime moth]

Maybe adding to the same pool forces you to claim but different pool it doesnt? idk 😄

[tropic scroll]

Can i add value to my initial ilv stake?

[manic spindle]

Yes, you can deposit a new stake. You can have as many stakes as you want within a particular pool and all can have their own locking periods 🙂

[next ruin]

I think that might be it, actually. So, no more freebies for you.

[lime moth]

what is the minimum amount of ILV to be claimed? as I have the claim button grayed out on the new stake

[sharp bone]

Once your ILV stake reaches it’s locked time it shows withdraw. If you do not withdraw does it still earn ILV?
Or do you have to withdraw and restake to earn rewards?

[indigo bridge]

Is the flash sale pool flexible or locked?

[cyan rampart]

It continues generating rewards until you unstake it!

[indigo bridge]

Yes it should still earn ILV at the weight you locked it in for

[autumn cloak]

I have this question as well; not planning on claiming when it’s this small of course, just curious.

[cyan rampart]

There's no minimum to claim - I suppose there's a technical minimum if you haven't generated enough rewards to show up yet though.

You're more limited by gas prices than any kind of claim minimum though, by orders of magnitude.

[autumn cloak]

That’s kinda what I figured; it’s really small just because it’s my reward stake from SLP; so I’m not going to touch for probably a year or so anyways

[shrewd pivot]

If there is a larger apy for the Sushi LP pool than the ILV pool, why would someone pick the latter from over the former?

[autumn cloak]

There is more risk associated with SLP staking like impermanent loss

[shrewd pivot]

What is exactly meant by “impermanent loss”? Temporary loss of funds? Could you please explain

[next ruin]

https://academy.binance.com/en/articles/impermanent-loss-explained

[shrewd pivot]

Thank you!

[indigo bridge]

does anyone know if the flash pool staking is flexible or locked?

[lilac coyote]

your link tokens are not locked. the ILV rewards generated are locked for 12 months

[cyan plaza]

Also here…. https://youtu.be/8XJ1MSTEuU0

[indigo bridge]

ah alright thank you

[rich junco]

Hello, if I go to claim ILV rewards are they deposited into my wallet or are they also locked away? Im staking SLP for 1 year

[lilac coyote]

claimed rewards are deposited into the solo ILV pool with a 12 month lock

[next ruin]

If you claim ILV it is automatically staked in the ILV-only pool for 12 months "vesting." sILV is unlocked immediately - not sure if it goes immediately to the wallet or need to be withdrawn.

[rich junco]

Ah good to know. sILV is a tradeable token right?

[bronze heart]

are flashpool rewards locked?

[next ruin]

Yes, it is also a tradable token. It is usable to pay in-game fees pegged at the price of ILV. It's currently trading (not officially supported) at about half that price.

[rich junco]

So every time I go claim SLV it starts another 12 month total lock? or are they all separately timed?

[next ruin]

Each claim of ILV rewards is in its own vesting batch.

[lilac coyote]

Yes, if you claim every 2 weeks for example, they will each unlock in 12 months from the time of claim

[next ruin]

If you claim ILV, yes. sILV is unlocked. Same as the core pools.

[rich junco]

Ok phew thats a relief. Thank you both

[rich junco]

When does peg happen? and if sILV is currently at half the price of ILV does that mean when I claim ill receive around double the tokens?

[next ruin]

Anytime you use sILV to pay in-game fees it will be treated as equivalent value to ILV at that time. You will receive the same amount of tokens as Illuvium considers them the same value. It is only on secondary markets that sILV is trading at half the value (as there is nothing to use it on right now and you can't stake it to earn more).

[rich junco]

I see. It sounds like a good strategy for max rewards is to get ILV for now and closer to launch sILV. Is that the current concesus?

[next ruin]

Entirely dependent on your goals - some folks are only interested in investing and will never claim sILV. Some are only staking so they can play off of the rewards. I'm probably doing something similar to what you've said: claim ILV for now to maximize compounding and claim enough sILV to fund my playtime.

[rich junco]

I completely agree. I love the staking rewards (honestly never seen this high of APY in life) but also want to play and earn when the game releases. So stoked!

[next ruin]

https://tenor.com/view/agreed-will-ferrell-anchorman-gif-5016662

[rich junco]

I've read some of the guides and calculators on when to claim rewards but curious as to what your personal rule is if you dont mind sharing. You seem really knowledgeable about this

[next ruin]

I think I'm more aggressive than most that have shared, but my rule of thumb is that the gas fee should be no more than 10% of the rewards I'm claiming.

[rich junco]

gas is def the single most important factor. I'm looking for around 40 Gwei gas price before claiming. Does the amount your claiming increase the gas fees you pay? Yes right?

[next ruin]

Nope, the gas will be the same whether you are claiming millions or pennies. All that matters is the congestion of the network and the complexity of the transaction. There's a gas calculator pinned that can help predict what you'll be paying and plan things out.

[rich junco]

wow that changes things haha Ill check that out. I think I might start claiming every 2 ILV. Seems like I could make up the gas fee in a day or two

Damn I wish I could add to my current SLP stake without starting a new one

Do I have to pay gas fees separately for each vested amount?

Or are rewards combined and I can claim with a single tx?

[next ruin]

Everytime you add you'll have a separate batch (assuming you lock for higher token weight). However, even if you have a bunch of different "batches" all of the pending rewards will pool together and can be claimed once for each pool (SLP / ILV)

[rich junco]

Bro you just made this whole experience so much easier. Thank you!

[next ruin]

No problem. Glad I could help!

[tidal smelt]

Morning - Just wanted to double check. I'm staking ILV. So far i haven't claimed any of my rewards. Under "Rewards" tab, if I decide to claim ILV, these tokens will then go into "Vesting" tab with a 365 day unlock wait time? Thanks!

[autumn cloak]

Correct. Though you can also choose to claim your rewards in sILV and they will be immediately unlocked

[tidal smelt]

Great. thanks very much. I'm an SNX staker too so i'm fine to play the 12m long game 🙂

[autumn cloak]

Me too. Especially since it compounds while it sits there!

[tidal smelt]

yes, i'm a big fan of compounding returns!

[shrewd pivot]

Would you know if I would have to pay a gas fee if I want to withdraw my initial investment that’s under a flexible lockup period not including the vesting rewards?

[autumn cloak]

Pretty sure there is always a gas fee for staking/claiming/withdrawing. Any transaction will cost gas

[shrewd pivot]

Ok thanks

[tidal smelt]

one final quick qs - just so i fully understand ILV vs sILV - best resource to use is the white paper?

[autumn cloak]

Whitepaper is helpful, there are also a lot of resources out there made by community members: When I got started Vetemor's youtube videos were really helpful.

Video about tokenomics: https://www.youtube.com/watch?v=6CnaPDb9OOc Video about claiming ILV v sILV: https://www.youtube.com/watch?v=hwg9CIrpTCc

[tidal smelt]

Thanks v much! will check those resources out.

[dusty hearth]

Hey guys I have 0.35 ILV is it worth staking you think?

[gloomy gazelle]

Maybe not. But If you plan to keep it staked for several years it might be worth it. But I’d probably wait until v2 staking come out to reevaluate.

[dusty hearth]

ok thanks. It can just chill in the wallet and wait for v2 🙂

[brisk surge]

When will it come out

[worn bobcat]

Okay im trying to claim my rewards but it makes it sound like if i choose illuvium i wont get my funds till after the twelve months vesting period... how can i claim my funds righ now?

[next ruin]

If you claim ILV those tokens will be locked earning additional interest for 12 months in the ILV staking pool. You can also claim sILV which is unlocked immediately. The sILV token can be used in the land sale and to pay in-game fees. There is also an unofficial liquidity pool on Uniswap where you can swap sILV for Eth, though you will likely only to be recognize about 50% of the value if you go this route.

[worn bobcat]

Is it just my rewards that get locked for twelve months? or is all of my ilv that i purchased as well

[sage jolt]

hi guys, when i try to claim ILV from sushi LP, it will also force me to claim ILV from ILV pool? i can't claim from just sushi lp?

[elder dawn]

Only rewards. You set your lock up period of your principal when you stake

[next ruin]

Rewards are locked for a year. If you staked flexible you can withdraw at any time.

[elder dawn]

You cannot. It automatically claims both. Accept both transactions or else it wont claim your SLP rewards.

[sage jolt]

ah ok got it, thank you 🙂

[worn bobcat]

i staked for a set amount of time a little over two months ago. So when it askes me which one i want to claim either ilv or silv, you're saying that it is only for the rewards that it acrued over that time? and that ill get my initial funds immediately am i correct? i really dont want my stuff locked up for 12 months i need really need it

[next ruin]

Your selection of ILV or sILV is for your rewards only. If your selected lockup period from when you staked is over you can withdraw your initial principal.

[worn bobcat]

thank you so much for the clarification!

[white mirage]

Roughly how many ILV should we have in order to claim rewards?

I know it depends on many factors and there are some spreadsheets, just looking for general guidance.

[elder dawn]

Im not the guy you want answering. I think most people claim to often. My strategy is claim around 10 ilv available right now and at low gas

That's based on my staking level and risk profile.

[arctic karma]

@elder dawn I've been told you can help me with my question. I want understand how much initial investment I would have to stake in sushi LP pool in order to not get completely screwed in gas fees and for it to still be profitable?

[exotic igloo]

Around 1000$ minimum

You'll lose 100$ to gas fees minimum to start

[steady trellis]

I agree. I've 8 ILV not claimed and here is the current value.

[exotic igloo]

Dont pay more than 5% in gas of the amount you are claiming is my rule of thumb

I pay 0.1%

Cause I claim once a week when gas is low

[final steppe]

Similar strategy for me here. The 10 ILV mark has been a sweet one for me but certainly won’t work for everyone @white mirage

Need to establish when it makes the most sense for YOU to pay the gas fees 🙂

[compact cipher]

hi guys, so everytime i collect rewards, its gonna go to vetsing page?

[gloomy gazelle]

correct. Except when claimed as sILV... those go straight to your wallet

[white mirage]

@final steppe@elder dawnthanks fam. I will check out the calculator, just wanted to see if I should claim today at ~3ILV.

[woeful stirrup]

can someone explain the flash pools and how they work?

[proven karma]

Will the amount of ILV or sILV affect the amount of gas in the transaction? Is it a fix rate for the transaction?

[hollow kelp]

Fixed base on Eth Mainnet gas rates at that time

[hollow kelp]

If you hold whatever token/coin in the flashpool, you can stake it to get som ILV/sILV

[brisk surge]

How do you read the gas tracker

50 thunder means $50?

[gloomy gazelle]

In addition to they are short term staking pools. The amount of ILV going to the flash pool is like 2%, the slp pool gets like 79% and the ILV only pool gets like 19%

[gloomy gazelle]

!gas

[woven ibex]

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

[knotty river]

:fuelpump: Current gas prices

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

49 Gwei

Average :person_walking: | **3 minutes**

49 Gwei

Fast :zap: | **15 seconds**

51 Gwei

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

[gloomy gazelle]

Gwei is used as the unit to measure gas price. But you’d need to use the link above to figure USD cost of certain kinds of transactions.

[white mirage]

I've got LINK on Coinbase. I need to send to Metamask, then I can stake from there, correct?

[paper parrot]

Guys i think imma do it. Lock it for 1 year sushi pool

[white mirage]

Niiice

[clever swan]

I staked a month ago and I think bc of IL I now have more ilv than eth in my slp pool

[drifting elbow]

Can I stake on the link flash pool without paying gas to claim my Sushi LP pool?