🥩〕staking

[cunning perch]

You need to charge your phone before that 😄

[brisk surge]

Will REVDIS be in ETH / ILV or Dollar?

[cunning perch]

ILV 🙂

[brisk surge]

Beauuutiful 💥🔥

[barren elbow]

Hi

[hot lynx]

#💰〕token 😅 🚀 👀

[brisk surge]

One thing I don’t understand and would love if someone can clarify .. I’ve bought and staked all my ILV. If I’ve no intention of playing the game or using sIlv , am I right in saying there’s no point really in staking in that pool ?

[next ruin]

All pools can claim ILV or sILV and there is no opportunity to stake sILV. Hope that answers what you are getting at?

[brisk surge]

So I’m only receiving 66% APY when I could get a lot more ? Is it higher risk ?

[next ruin]

#🥩〕staking message

[brisk surge]

Fantastic!! Thanks a million

[uncut marsh]

Hi does the illuvium site work with ledger metamask, or just dt metamask

[autumn cloak]

Ledger works; lots use ledger

[uncut marsh]

Ok thanks

[glacial raptor]

Any current known problem connecting Trust Wallet to Illuvium? Every other wallet prompts, but when I try using Trust wallet, nothing happens

[mental saddle]

Binance is becoming dificult because of uk regulations. No more SEPAs. Um using Coinbase as fiat recipient, buy btc there and send then to binance.

[agile fiber]

Once you stake then you get the privilege to vote in the illuvinati council?

[brisk surge]

When you have $ILV you have a right to vote in the upcoming elections for the next council members with the it.

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

[autumn cloak]

Speaking of, when are the next elections?

[agile fiber]

Okay. Wasn't sure how they verify you to vote but I'll check out the link you posted. Thanks

[inner estuary]

Say I stake my SLP for 6 months and receive a 1.5 weighting, at the end of the 6 months if I leave my SLP staking, do I maintain the 1.5 weighting, or would I have to lock it in for another 6 months?

[autumn cloak]

As long as you don’t unstake, you maintain the weight

[inner estuary]

Amazing. Thanks for confirming

[autumn cloak]

Yep. It’s really nice to know I’ll still get my 2x even after my tokens are unlocked

[brisk surge]

It will be the 4th Epoch: which we be announced sometime in November once then current one ends.

[brisk surge]

This article explains it https://medium.com/illuvium/33-elect-your-next-illuvinati-governance-council-3rd-epoch-september-2021-november-2021-55a48d6480f7

[autumn cloak]

Ok cool. Thanks!

[brisk surge]

Yes you would maintain that same weighting and have the option to restake with a different weight.

[autumn cloak]

Quick question; right now I’m staked for a year which means 2x weight. After my tokens unlock, is there any reason to lock them again?

[brisk surge]

If you don't unstake them then no.

[autumn cloak]

Epic

[pulsar sonnet]

Question. I've staked and locked in my ILV/ETH in the liquidity pool.

What happens when I claim ILV ?

Does it get immediately paid out into my wallet? Or does it get staked in my ILV stake pool until the lock up period of the liquidity pool is over?

I'm a little bit confused about this one 😅

[next ruin]

When you claim rewards as ILV they are locked in the ILV only pool at 2x weight for 12 months from the moment you claim.

[pulsar sonnet]

Perfect answer. Thank you 🙏

[agile fiber]

Say you have $1000 to rewards to claim from staking and the fee is $100 in gas. Once claimed, does the gas fee get subtracted from the $1000 or from your wallet that has ETH in it?

[next ruin]

Gas fees come from your wallet's Eth balance.

[agile fiber]

Thats what I thought, thanks for clarifying. That will make taxes 'slightly' easier at the end of the year lol

And how can you tell how much ILV you own if you're staking in SLP pool?

[clear cape]

SLP value / 2, divided by ILV price

[tawny bough]

!stake

[fallow halo]

When does the site automatically claim your rewards and restake? When you add more ILV to a pool?

[autumn cloak]

Never does it automatically I believe. Has to be done manually since gas fees have to be paid

[fallow halo]

I could’ve sworn I saw something that triggered rewards automatically getting claimed but not sure

[autumn cloak]

I haven’t seen that, but that doesn’t mean it doesn’t exist

[gloomy gazelle]

You are forced to make two transactions. One to claim one to add another deposit. It’s all part of what follows pressing the deposit button.

Don’t claim under rewards tab if you are planning to make another deposit soon after.

[fallow halo]

What form will REVDIS take? Will you just receive ILV monthly into your wallet or?

[next ruin]

Supposed to be similar to the current staking rewards, just unlocked. You'll still have to withdraw to your wallet afaik. RevDis is supposed to be processed a couple times a week once things are up and running.

[fallow halo]

So a claim should only be issued once the rewards gained justify a gas fee

[gloomy gazelle]

Yeah. And that would depend on what you were wanting to do with the ILV. Stake. Hold. LP. Sell. All would incur different costs.

[fallow halo]

I’d probably just claim to restake for a while

[next ruin]

Can't remember, was it discussed to make it possible in V2 to stake RevDis in a single transaction instead of withdraw + stake?

[autumn cloak]

I believe that was tossed around. I remember talking with Stormi about it

[gloomy gazelle]

Yeah hopefully

[next ruin]

https://tenor.com/view/hope-so-fingers-crossed-cross-fingers-im-hoping-gif-13473563

[gloomy gazelle]

We shall see when the fully reworks iip comes up

[wispy trout]

Do you only receive redivs on ILV that is staked? (Ie if you just hold the token in a wallet you won’t receive any?)

[brisk surge]

Yes it has to be staked on the staking platform.

[wispy trout]

Thanks

[pale trellis]

Because the APY goes down when more people stake is it best that this project goes under the radar for another 12 months so we can a higher return on yield?

[wintry fossil]

But if it goes under the radar, then that would mean that revenue would potentially be lower than if it makes waves around the world and everyone knows about it and starts playing. Basically meaning that revenue generated might actually offset, and be greater than the decrease in staking APR

[keen ridge]

@pale trellis for rewards yes for profits not exactly (more staking = less supply = higher price)

[pale trellis]

Yeah I understand both points of view. I think by staking SLP I'm going to end up with more ILV in the first 12 months vs what revdis would give me. I understand if less people are buying it doesn't put as much pressure on the price. I'm happy either way.

[wintry fossil]

Fair enough. That's probably the better long term option than focusing on greater revdis as the token theoretically should continue to grow and provide more value in the long run than the revdis would provide in comparison.

[boreal cape]

I think you are right, if you are staking big, put it on SLP, if not (like me) put in on ILV. because the yield rewards is insane in SLP. BUt I believe (correct me if I'm wrong) yield rewards will not last for long, so in a long term we will all be gaining ILVs only through RevDis. So it is smart to go big on SLP (if you can) to Gain more ILVs then Stake it again for a bigger RevDis. Well... all of this will happen IF the game is a success which everybody is hoping that's why we're staking!👍

[young dawn]

Can you clarify more on this matter please? Then where should we do our actions (eg. claiming)? Thank you for your time.

[sand cloud]

If you're gonna stake more, iirc it claims rewards while adding to the stake. That means that if you claim rewards before staking you're claiming rewards twice

[gloomy gazelle]

If you are not planning on depositing more into one of the pools that you are already in Then go ahead and claim/vest when you have enough ILV tokens for it to be worth it. But if you are planning on depositing more tokens to add to you stake then don’t claim/vest under the rewards tab because you will be forced to claim as part of the deposit process.

Normally you claim rewards under rewards tab. But don’t do that when you are planning on depositing more.

[young dawn]

Then what action would you suggest us to do?

[gloomy gazelle]

I don’t even know what you want to do.

[young dawn]

Haha wao then we gotta wait 😄

I meant, if I plan to deposit more into the pool....

[gloomy gazelle]

Then just start to deposit and it will force you to do a claim transaction as part of the process of making a deposit. Just deposit. It’ll claim for you. Follow the steps.

[young dawn]

Oh wao ok thanks!

[gloomy gazelle]

https://youtu.be/64rf_ja61Xg deraji has a few videos that explain how to be efficient with your transactions. The first one is the intro.

https://youtu.be/ZVs1SVeoPRQ I assume this one has the info on the actual efficiency calculator part

Just don’t stake now. The gas is stupid high.

!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

[boreal cape]

I'm kind of confused. So after 12 months of locked staking, you can unlock it, ryt? isn't that the REWARDS will be automatically staked again? or you have to "stake" it again together with your ILV?

[knotty river]

:fuelpump: Current gas prices

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

329 Gwei

Average :person_walking: | **3 minutes**

329 Gwei

Fast :zap: | **15 seconds**

330 Gwei

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

[gloomy gazelle]

Rewards sit stagnant until initial claim/vested then they are put into the ILV only pool to start the 12 month countdown until you can withdraw them or just choose to let them stay staked.

If you deposit and lock it… then when that deposit unlocks you can leave it staked at its current weight or you can withdraw it and then do whatever you want with it.

!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

[boreal cape]

I am planning to let my ILVs, including the rewards after unlocking, to be staked, so basically I don't have to do anything?

[gloomy gazelle]

You will want to periodically claim/vest the rewards so they start compounding

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

But not too often so you don’t waste money on gas

Check out deraji’s calculator

In pins and on the video I shared above

[boreal cape]

oooohhhhh, so after every unlocking, if I want COOOOOOOOMPOUNDING, I need to claim/vest them and it will AUTOMATICALLY be staked?

[obsidian nebula]

so i matched about 5.7 ILV and wound up with 2.33 SLP and staked it. when getting revdis will i get rewards based on 5.7 ILV, or 2.33?

[sand cloud]

Basee on the ilv

[tall mesa]

Sorry for the noob question, let say I staked at ILV only pool and have it locked up for 1 year with 64%.
After a year the APY has dropped to 40%. Will I still be able to get the initial 64% or I will received the new 40%? I’m still confuse with this calculation.

[obsidian nebula]

when you claim staking rewards in ILV it is automatically staked in ILV pool while it is vesting for 52 weeks. while it is staked and vesting, it also earns you revdis.

[obsidian nebula]

thank you

[eager fractal]

you get a return in between the 40% and 64%, would be pretty tough to compute the actual return but you're receive an annualised return of 64% for the initial period and that decreases as time passes to 40% (in your example). So the actual return would be something in between
This is return in terms of number of ILV though. So in dollar terms, you'll also need to see the change in price of ILV. And believe this APY does not include revdis
Edit: you'll also have to net off transaction/ gas fees

[gloomy gazelle]

What’s happening is the apy is telling you the present rate you are earning rewards at. rewards are accruing every block. But as apy goes down it means you are earning at a slower rate.

[tall mesa]

I saw they said something the reward to be given out per block and its every something seconds. If the percentage has not changed by then. I would still get 60%. Am i understanding this correctly?

[gloomy gazelle]

If apy stays the same then you keep earning at the same rate. If tomorrow the apy is at 45% then tomorrow we are all earning at 45%apy.

Apy is variable and is experienced in that moment only.

[tall mesa]

Got it! Thanks a lot for clearing this up guys!

[gloomy gazelle]

[sacred cosmos]

Is revdis only for those who staked in the ILV pool or does it include those i SLP as well?

[gloomy gazelle]

For both. And for other staking pools

[mint cave]

for the SLP pool the revdis is calculated by the ILV token amount inside of however much SLP you have

you can see the value for 1 SLP token here:

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

[sacred cosmos]

Thanks @mint cave and @gloomy gazelle . I actually assumed it would be counted but since what we staked is a SLP token it gave me pause to think.

[warm carbon]

Hi everyone little question when the stacking contract v2 will be release

[mint cave]

won't be able to give a concrete date - the team is working on it now and it will need to be audited as well

[warm carbon]

Ah ok is not for very soon so

[sacred cosmos]

Keep reading end of october. Just dont know if its for the proposal or the implementation

[warm carbon]

i see thanks you all

[small moth]

this game affiliation of illumination

[glacial raptor]

Can anyone confirm Trustwallet works on Illuvium?

[cunning perch]

Any wallet compatible with Wallet Connect (like Trust Wallet) works with ILV site. 👍

[glacial raptor]

Hmm okay. Unable to make it work on both laptop and mobile. Simply dont get a prompt window like the other wallets.

[cunning perch]

Maybe there is a connection issue. Maybe use another wallet? Like MetaMask?

[glacial raptor]

Just seems odd that it should be a connection issue. I use Trustwallet for various other sites, without any problems

Sure, could use another wallet. But I mainly use my Trustwallet, and since its being supported, I would just prefer to keep using that 🙂

[cunning perch]

Wallets should work pretty smoothly with the website. There are many using TW right now. But I think you're right. TW doesn't seem to get connected with phone. 🤔 weird

[glacial raptor]

Alright, atleast its not on my end then 🙂

[cunning perch]

I don't use TW, but tried it on phone and nothing happens. I'll check again when I get home .

[granite halo]

Gas starting to drop. Can we do it? Can we go sub 50 tonight? Been waiting all week

[floral widget]

Still over a hundred ... the best time to do is 4-5am in us time during the weekends , all my claims are done then

[granite halo]

Yeah but I am losing out on 1 ILV/week waiting to stake. Gonna hope it goes sub 50 tonight. If not, will just bite the bullet.

[storm stone]

Is it possible to stake the ILV rewards again without opening a new pool?

[fallen mirage]

hey first time ive ever asked somthing on here but just curious on people opinions on staking only 2 ilv like is it worth it in a 12 month window because of gas fees and would claiming rewards even be viable ? sorry pretty new to this all and seemed like a sick project

[hot lynx]

Confirmed I use Trust wallet on a weekly basis 👍🏻🚀

[cunning perch]

Is it working now? On phone AND PC?

[manic spindle]

No one can really answer that for you because it is impossible to predict APY and Price that far into the future. If I should make a - in my opinion - conservative estimation, then this would probably look like this:

The ILV pool currently has an APY of ~65% when locking for 12 months to achieve token weight of 2.0. There is no doubt at all, that this will go down over time. If we - for the ease of this estimation - would take something like 25% as a yearly average, then 2 ILV staked now would reward you 0.5 ILV within a year (ignoring whatever tiny bits of RevDis would come on top).

Personally, I do expect the ILV token to sit at $2.000+ at the end of next year. This would put the value of your 0.5 ILV to $1000. Obviously when claiming after a year, your rewards need to vest for 12 months (unless claimed as sILV) but when unlocked in two years, I'd see it more likely that ILV would be even higher than lower compared to the value in a year.

Even with $1000 value for 0.5 ILV though, it would already be worth it because you don't pay that much in Gas Fees to stake, claim and withdraw. At least not if done at a time of reasonable Gas costs.

So, me personally, if willing to lock for 12 months, I would stake those 2 ILV, yes. It includes a lot of assumptions though, because no one can get around the fact that it still is speculation, so there are no guarantees. It could be much more after a year but it could also be less.

Also, if there is any chance that additional ILV would be purchased somewhat soon, I would wait to stake them all together.

Just some food for thought here. Obviously not financial advice 🙂

[fallen mirage]

hey thanks for that i wasnt expecting a message that big haha cheers!

[woven ibex]

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

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

[storm stone]

does this also count for SLP Tokens staked from the SUSHISWAP ILV/ETH pool?

[manic spindle]

Only the actual amount of ILV staked within the LP Pool is eligible for RevDis.

[storm stone]

So if I have a LP Pool on Sushi where 500 ILV are in the Pool those 500 ILV will be eligible for RevDis? (just an example, I dont have 500 :D)

[manic spindle]

Both Core Pools from the ILV Staking Site receive RevDis. The ILV only pool only consists of ILV, so here all tokens basically are eligible. For the LP Pool you don't get RevDis based on the amount/value of your LP tokens but only according to the actual ILV amount. So if you would lose a ton of ILV to impermanent loss, then this would lower your RevDis.

[storm stone]

Alright I see. Thanks for the explanation!

When I claim my ILV rewards for the SLP Staking they will be vested for 12 months. During these 12 months its not possible to restake them directly right? Only after the 12 months vesting has ended?

[reef oriole]

is there a guide to Staking SLP?

[manic spindle]

You can follow this: https://www.youtube.com/watch?v=C6YugU4zZr4

!lp Also ⬇️

[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

[reef oriole]

danka

[manic spindle]

Claimed ILV is automatically staked in the ILV pool with a token weight of 2.0 and does compound already during it's vesting phase 🙂

[storm stone]

Amazing. Thanks a lot dude.

[glacial raptor]

Still not working on either

[hot lynx]

Cell with finger print sign off

Sorry I was offline moving house today 😅

[cunning perch]

Hey. I just tried TW with Wallet Connect on PC and it worked

[hot lynx]

Correct 💯 works for me

[cunning perch]

yeah that way it works.

[hot lynx]

Ye I keep it simple on cell finger print sign off .. done ✅ .. if you don't do the sign off .. sometimes it spins and times out

[cunning perch]

Well I just got home and the first thing I did was to check on both devices. With Wallet Connect, TW works just fine on Both. @glacial raptor The TW icon is kinda unresponsive, but WC is ok. (WC lol....sound like Toilet haha)

[hot lynx]

Agree 👍🏻

[proud moth]

i use trust wallet most of the time. When claiming ILV on SLP pool, it executed the 1st tx successfully, but the 2nd tx were not poping up for confirmation most of the time. My work around is using Math Wallet. Works fine everytime. Give it a try @glacial raptor

[cunning perch]

Personally, I don't use TW as I've had some issues with it before. MM has been so far the best connected to my CW

[coarse jolt]

Hey everyone, just bought my first ILV! 😄 Super excited to be a part of this great community. I had a question regarding the rewards for staking. Do we still receive sILV/ILV as yield if we stake in the SushiLP pool? or is that only for the ILV pool. Thanks in advance!

[cunning perch]

!claim hey. Staked in either pool your stake will generate rewards that can be claimed in form of ILV or sILV. You can read in details here:

[woven ibex]

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

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

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

[glacial raptor]

Finally got it up and running 🙂 TW icon still being unresponsive, but WC works like a charm. Thanks alot guys.

[cunning perch]

No worries. Happy it worked out for you

[coarse jolt]

Thanks so much! This really helps. @cunning perch

[cunning perch]

No problem bro/sis. Happy to help 🙂

[dark osprey]

I have a problem. Can't withdraw my staked amount. It was flexible locked. Now it is stuck in my balance. How do i get this back to my Metamask?

[cunning perch]

Your balance? If you can see it in your ILV balance it means it's in your wallet.

[dark osprey]

Well it's been a while since i've done this. But i only see my ETH balance.

[cunning perch]

When you open ILV website, do you see your ILV (in Dashboard) in “staked” tab?

[dark osprey]

No it's on the balance., Have a small amount which are rewards i guess.

well nvm i guess lol

i can't see the ILV but if i want to swap i get the balance

[cunning perch]

In dashboard there are 3 sections: Staked ILV, ILV balance and sILV balance. If you see it in ILV balance, then it should be in your wallet. If it is in Staked section, then it is still in the pool

[cunning perch]

!contract So it is in your wallet. If you haven't added ILV address to your wallet, add it to see your balance. You can see the address here

[woven ibex]

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

[dark osprey]

cleared up!

[cunning perch]

Everything worked out?

[gilded wigeon]

damnnnn it pump to 900$???

[cunning perch]

Price in #💰〕token please thx 🙂

[dark osprey]

Yeah thx!

[mellow hull]

You poor mods answer the same questions every day. God bless you all.

[fervent trail]

is it better to stale sushi or ilv?

[silk pollen]

Whaat happpens

[autumn cloak]

Ultimately up to you. Sushi does have better APY but comes with more risk. ILV is the opposite

[nova vessel]

Anyone know if I can transfer staked ILV and SLP to another wallet?

[brisk surge]

prett sure you have to unstake it but not positive

[nova vessel]

but its locked to 365 days

[autumn cloak]

If it is locked, no

[mint cave]

this is not possible at the moment.

in staking v2 it will be possible iirc

no ETA on that yet

[nova vessel]

sps?ok so there's no way to touch the staked ILVs or

[autumn cloak]

Yea if you lock it, it’s locked until the time expires

[unborn cove]

How much gas fee for 2.55 ILV Stake?

[meager agate]

Did the Rev dis from the Drace stuff happen yet?

[mint cave]

gas fee does not change with the amount being staked - there is a fee calculator pinned in this channel

[brisk surge]

The gas fee isn't a fixed price, it fluctuates based on how busy the ETH network is. There is a GasTracker on the right side, try to wait until it is down below 60 atleast, ideally 30-50

[unborn cove]

So what would be the range for gas fee ? Tnx btw

[sacred cosmos]

you can monitor gas fees here: https://etherscan.io/gastracker or check the tracker on the right side

[unborn cove]

Wooh . I think its not ideal if im staking only 2.55ILV

[brisk surge]

Yes it is high right now, you can find low gas usually on Saturdays and Sundays at some point. If you do want to stake I'd consider waiting a few days and monitoring gas until it gets below 50 if you can get it

[sacred cosmos]

Wait for the gas fees to go down. It can go as low as 40 or less certain times of the day. Check the staking calculator pinned in this channel so you can get a better idea if your rewards will compensate the gas fees

[unborn cove]

Great tnx.

[tall mesa]

Just wanted to make sure, I can buy ILV from binance with ILV/USDT, correct? When I transfer from MetaMask I just need to have enough ETH for the gas fee.

[sacred cosmos]

Can confirm since i bought using usdt previously.

[brisk surge]

anyone have an answer for this would also like to know when this is happening?

[tall mesa]

Nice, thanks a lot! I was a bit worry. Don't want to buy the wrong things lol.

[agile fiber]

Is there any update on how much money has been made off the DRACE event?

[modern night]

hey guys,
Just a quick question,
How much is the average cost when you stake to SLP with average gwei of around 50-80?
I mean everything included, like from binance > MM > Sushi LP > Staking,

[sacred cosmos]

50 gwei was around 75-80 usd when I was last monitoring my staking. At 38 gwei it went down to 55 usd.

[modern night]

This is just for staking right?
So $150-$200 would be a safe choice for GAS starting from binance?

[agile fiber]

https://crypto.com/defi/dashboard/gas-fees This will give you a pretty accurate rate depending on current gas fees

[sacred cosmos]

When I transferred eth from binance to metamask the fees were .0005. ILV transfer fees was .005

[modern night]

oh cool, thanks!

[tepid portal]

310 dollars in eth for taking out staking rewards rn

[delicate cloak]

There's also trackers that show over the last week when the cheapest gas which can help you predict off peak times

[mental tangle]

@wintry current

https://youtu.be/C6YugU4zZr4

You can find official links and stuff here #🔗〕helpful-links

[wintry current]

Thank youu soo much

Its currently 2am here so good night everyone

[mental tangle]

Gn fam

[crimson creek]

Hello fam! I staked my ILV since few month and I wanted to now if I had to Claim it to then restake and coumpound or is done automatically? Thanks for your help!

[cunning perch]

!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.

[next ruin]

You need to claim rewards to get compounding, won't do that automatically. The act of claiming WILL auto-stake it for a year.

[crimson creek]

Someone has already done the math behind paying fees for claiming and expected decreasing interest for coumpounding to isolate the best amount to Claim to maximise our stack?

[cyan rampart]

Yup, check the pins!

[gloomy gazelle]

#🥩〕staking message check this out

[modern night]

Great!
Thanks!

[high valve]

Hey guys till when will the high yield staking last,now its 534 will it go to 0 in 52 weeks? as i locked for it, how those this work ?

[gloomy gazelle]

!yf

[woven ibex]

You can yield farm ILV in 2 main pools.

ILV/ETH at a 1:1 ratio USD values matched or ILV Only. 3 Million tokens will be distributed through yield farming over a 3 year period, with the first year being 1.8million tokens. Only unlocked tokens can yield farm which is less than 1 million tokens. Meaning, you get the maximum rewards possible. You can lock up your tokens for a maximum of 1 year which can increase your weight in the pool up to 2x. More details will be published before Yield Farming goes live near the end of May. Until then, here is more information: https://medium.com/illuvium/9-tokenomics-launchpad-and-reward-details-5894c3b356be If you don't know what Yield Farming is you can start researching here: https://www.youtube.com/watch?v=ClnnLI1SClA

[cunning perch]

You mean After your lock is done? No. YF is up for 3 years and it will change/go down little by little (3% every 2 weeks)

[gloomy gazelle]

As the TVL increases the APY decreases.

But there’s ILV going out for years still.

Watch some videos by vetemor and deraji

[high valve]

oh ok thanks arash, yes that was my question, so in 52weeks, i can go again for a full year ?

[cunning perch]

don't need to. Just keep it staked 🙂 (probably will have to migrate it to V2 after it's implementation) you can learn about V2 here #809220563397902346 message

[gloomy gazelle]

It’ll stay earning at its current weight.

[high valve]

thats amazing, hope price will keep rising on ILV :))) very happy to be a part of this project, its my first moove in crypto

[cunning perch]

Don't hesitate to ask whatever questions you had. 🙂 You're in good hands

[rain dune]

you chose an amazing project for your first move, congrats

[agile fiber]

Same! First Crypto DeFi project, but looks beyond promising. My first week of staking rewards have been insane!

[shrewd river]

@high valve @agile fiber You guys are oracles is this is your first crypto investment. It's literally the best one in the entire market imo.

[high valve]

thx man i indeed feel blessed

[last summit]

if i choose to unstake my one year locked do i lose all my acumulated rewards? thanks

[gloomy gazelle]

You simply can’t unstake it.

You locked it.

[last summit]

so i can only claim sILV to use in game?

what happens if i claim ILV now? what does it do? sry im noob

[gloomy gazelle]

You can claim your rewards as sILV. But your initial deposit is locked until it’s unlocked.

[gloomy gazelle]

It starts vesting/compounding interest for 12 months until it’s unlocked and can be withdrawn.

[last summit]

so my rewards arent actually compounded to my initial stake right?

[gloomy gazelle]

Correct. It’s as a separate batch.

But don’t claim/vest until you have several ILV stacked up in pending rewards. The gas fees are too high for it To be worth it.

[last summit]

thanks for clearing it up for me!

[gloomy gazelle]

There’s a bunch of good videos by vetemor and deraji that explain how to use the helpful tools that are pinned in here.

#🎨〕community-content message

[last summit]

oh and one more thing, after my 12 month locked period. i can also withdraw my rewards right?

[gloomy gazelle]

Yes

Wait only after the rewards have ended their 12 month locked period.

[brisk surge]

Chrome is also not working.

[gloomy gazelle]

Not the initial deposit locked period.

[cerulean nexus]

question: if I add to SLP and then I stake that SLP in Illuvium, I'm not eligible for the 0.25% of the fees of the Sushi Pool on that pair right?

[cunning perch]

I just checked it. Chrome works with the website. What error do you see?

[gloomy gazelle]

Incorrect. The sushi fees get added to the SLP value. Because the fees get absorbed by the pool and you hold tokens representing your portion of the pool.

[cerulean nexus]

so my SLP grows over time?

[gloomy gazelle]

Yes (unless eth and ILV price goes down, but even then you still get your fees)

[cerulean nexus]

mmh that's hard to understand haha

[brisk surge]

No error, it is just loading forever with the loading circle ⭕️

[cunning perch]

make sure it's updated. I just checked my dash like 10 seconds ago on Chrome. It works just fine

[rich seal]

hi, one question, how to add ILV token in metamask, any tutorial? or where to find ILV adress?

[gloomy gazelle]

!staking the video at the bottom

[woven ibex]

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

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

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

[gloomy gazelle]

!contract

[woven ibex]

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

[rich seal]

thanks for all these useful answers

[short notch]

Staking in the SLP. Are you able to also use that eth I have in there as collateral and borrow against it on sushi? Or is that a seperate part of sushi. I will most likely buy imx when it’s out and trying to figure out how I can get more liquid. I have issues selling any of my projects lol. Also sorry if this is wrong channel for this Q

[nocturne monolith]

Hey all, I've got 8.24 ILV in rewards built up. What's the easiest way to go about reinvesting that back into my stake? Do I need to buy more ETH to pair with my pending rewards to get more SLP staked?

[next ruin]

If you claim ILV, it will automatically be added to the ILV-only pool locked for 12 months at 2x weight.

[nocturne monolith]

Is that the only route for staking any rewards?

[next ruin]

Only alternative is to claim sILV -> sell sILV into the pool at ~40%ish value and reinvest that into SLP. Haven't investigated what the threshold is for that making sense what with gas, but it's got to be quite high.

[nocturne monolith]

Probably just better to buy and stake SLP straight up, and just stake rewards as ILV only

[next ruin]

That's what my gut tells me.

[nocturne monolith]

Holy shit balls.. gas is $217 rn 😂

[brisk surge]

Having stake in the ILV pool is nice because it reduces the impact of impermanent loss on your overall position in Illuvium.

[cyan rampart]

Barring gas fees, at 600% APY, you're making 100% of your investment in 2 months in ILV rewards, claiming as sILV and selling at 50% (for math sake) and reinvesting into SLP.

So in 4 months (maybe 5 if sILV is less than 50% ILV price), you've doubled your SLP stake. I'm not 100% sure how the math works out, but it's pretty damn good if you're going ultimate long term.

[nocturne monolith]

Hmmm

[keen ridge]

does that take into account falling apy?

[autumn cloak]

no

[cyan rampart]

This is not financial advice, it's for entertainment.

xD

[brisk surge]

Far too many variables for anyone to know what’s best for sure. Just some more and less educated guesses lol.

[cyan rampart]

I know a few people have been doing what I described since pretty early, I think the falling APY starts to dig into how effective it can be.

Pretty wild way to double up your investment every few months though.

[nocturne monolith]

I like guarding against impermanent loss. Hell my ILV rewards alone right now can make me $300 a month in ILV at current APY. Not mad at that.

I'll stake it when gas is just a little lower

[keen ridge]

doesnt seem worth for 90% of shrimps tho tbh

[cyan rampart]

I can't afford to do it, but it's still interesting 😛 I won't be a smol sea creature forever.

[keen ridge]

Yeah it is insane, and seems a system like this is pretty unique as well - tokenomics are still so overlooked in the crypto sphere

[next ruin]

Someday having one whole ILV token will make you a 🐳

[nocturne monolith]

This is goalz

Trying to quit my job and build websites full time. ILV could be a big part of that.

[wanton field]

How complex is claiming rewards as a transaction in terms of gas? If for example, I claim when gas is at 50's, how much ETH would I need on hand?

[next ruin]

There's a calculator in the pins that should be able to give you a pretty good estimate

[nimble tendon]

V2 staking is also meant to be more gas efficient I think? So it should improve

[ripe steppe]

Calculator for every single type of transaction cost within illuvium ecosystem https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit?usp=sharing

[wanton field]

Thanks guys

[high valve]

is their a way to claim my ILV reward directly in metamask to combine them with eth and put them in slp pool instead of auto stack in classic ILV pool ?

[autumn cloak]

Not right now. They may try and implement this later possibly

[nimble tendon]

When does sILV actually become spendable in the game? Must be an optimal date to switch earnings over or buy some cheap sILV on secondary market?

[autumn cloak]

The first use for it will be the land sale. And then I would guess in Illuvium Zero there will be uses and obviously when the main game releases

[gloomy gazelle]

I doubt they will actually.

[nimble tendon]

When is land sale, is there an article with all the planned milestone dates?

[autumn cloak]

Most likely early november. Check #🎮〕illuvium-zero for more info

[mild thunder]

Good luck to you ... I wanna work for myself too and I feel defi can be a big part of it

[autumn cloak]

Yea I doubt it too. One can hope though

[hollow kelp]

Wouldnt happen given the 12 month vesting after rewards claim

[cyan rampart]

The addition of ETH makes anything you could do with contracts very convoluted, and convoluted contracts tend to have more exposure to vulnerabilities.

[hollow kelp]

Think he is referring more so for personal ETH rather than being paid out in ETH

[autumn cloak]

I was more meaning like being able to match your reward with ETH to put it into SLP instead of regular, but I know it'd be tricky to do

[cyan rampart]

Yup, so you're adding ETH to some claimed ILV, which then has to be taken to Sushi, swapped for a LP token, brought back and staked.

I understand the idea, it's still convoluted in contract form.

It would definitely be nice though 😛

[hollow kelp]

ahhh gotcha. But yea, from a smart contract side it would be sketchy like Blickter said

[autumn cloak]

Yea, I get it. Its a shame

Guess I will just have to settle for regular old ILV rewards. Ugh..🤣

[cyan rampart]

Haha

[hollow kelp]

50% still better than what any bank offers lol

[autumn cloak]

Once I have enough rewards to justify it, I may try out the strategy you mentioned earlier @cyan rampart . Especially if sILV is closer to ILV at that point

[cyan rampart]

My biggest concern would be if gas spiked or something went wrong during the process. Since the ILV is "locked" ILV and needs to have at least 12 months of vesting, what happens if the contract fails at any stage due to low gas etc. The ILV has to be refunded to you as "reward" ILV that still needs to undergo vesting etc. It just seems like there's a lot of places there could be weak points and a lot of edge cases to take care of.

[autumn cloak]

Makes sense

[nimble tendon]

I'm thinking that the sale price of sILV will increase once its usable (in land sale). If that's next month, considering gas prices I think its worthwhile waiting and then claiming sILV to trade back into ETH/ILV pool in November

[autumn cloak]

Yea. That's what I was thinking. I gotta wait a little while longer anyways for my rewards to build up higher

[nimble tendon]

Seems like sILV is only sell pressure right now, since there's no yield on sILV buyers have no reason to get it yet. Looking forward to stuff launching 🙂

[autumn cloak]

Actually quite a lot of people, including myself, are buying it cheap to use for the land sale since in the sale it will be matched to the price of ILV

[nimble tendon]

Yep that makes sense, I thought I have plenty coming from the staking but its a good arbitrage to buy it under market value
At some point we run out of $ though 🙂

[autumn cloak]

Yea, I just turned some of old assets into sILV since I was tired of them. cough cough axie

[exotic vessel]

I'm still very conflicted about how much to put in sILV for land sale

[autumn cloak]

Ultimately up to you. It all depends on what tier of land you are shooting for

[harsh mortar]

How does staking work using other tokens such as LINK? Are the rewards ILV and is there a chance of impermanent loss?

[floral widget]

Impermanent loss only occur if you are staking pairs

[harsh mortar]

Is there any difference of using LINK to earn ILV rather than just ILV?

[autumn cloak]

APY is different, also LINK is a flash pool so only lasts for a certain amount of time

[harsh mortar]

Would you know how long LINK lasts for? And what would happen when that runs out?

[exotic vessel]

Problem is whether to overshoot the amount of sILV if you want a high tier one. Dutch auctions with no limits are "fair" (for market value) but also very unpredictable.

[autumn cloak]

True. Up to your best judgement

[autumn cloak]

Looks like another 22ish days. Once it stops, your funds just sit until you pay ETH to withdraw them

For ILV rewards, automatically a year I believe. Unless it is different for flash?

[delicate cloak]

I'm 99% sure all ILV rewards are locked for 12 months. To avoid lockup, you claim as sILV which can be used in game

[brisk surge]

yes u are correct

the term is vested

[broken herald]

Wait a minute are these numbers correct ?! 633$ fee to stake in the SLP? Thats what i get when i enter 212 gwei in that sheet : https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit#gid=0

[autumn cloak]

Yea could be. SLP fees are higher. Id wait until gas is at 30-50 gwei

[broken herald]

dayum

i was think of throwing like 2000$ i guess that won't do it

[floral widget]

Just wait, when gas is like 40 the fees will be like 5 times less. Weekends will be normally better.

[brisk surge]

yeah 40 gwei is pretty affordable these days. I did staking for $38 a few days ago.

[sacred cosmos]

Wait till goes down. I stayed up for an hour or two waiting for GWEI to go sub 40s. (This is after getting slapped with a 100+gwei during my first stake lol)

[broken herald]

even at 50 gwei that adds up to 150$ fees

[blazing flicker]

Is the gameplay mechanics alike from TFT of League of Legends?

[broken herald]

the fighting in the game yes

[autumn cloak]

For staking SLP, fees are always going to be higher. But if you can get it at 30 or 40 it shouldn’t be too bad of a hit; especially considering depending on the size of your stake you will make back what you spent on gas in rewards in like a week

[reef oriole]

hey guys, i think i messed up.. After saving for a couple of weeks i eventually had enough to almost make the gas fees not make me cry. i staked my SLP late last night and i think i didnt lock it in for weighting. i meant to lock it for a year.

I guess i have to withdraw it and the re-stake it?

[autumn cloak]

Yep. and unfortunately pay gas for both transactions

[reef oriole]

bugga

[broken herald]

right, even if i pay 100$ fees and get to stake 2k, the 250% APY (not locking) will compensate the fees in a week or so

[sacred cosmos]

You need to account for the fees for claiming as well.

[broken herald]

I have to manually claim the rewards to compound my staking?

[shrewd river]

yes and any claimed rewards are auto-locked for 1 year for 2x

[broken herald]

lol another 50$ fees according to the sheet (at 60 gwei gas fees)

[shrewd river]

im seeing gwei at 110

[broken herald]

right now yes around 120. But even waiting for a sweet spot around 60 gwei, might as well wait for a bunchload of rewards before claiming them

[eager fractal]

think some of them were saying that if you want to stake more, do NOT claim the rewards under the rewards tab separately. Simply stake more and the claim will be automatically done. think it saves you 1 transaction of gas fees

[broken herald]

sound legit, but the staking SLP fee is a lot higher than simple claim reward fee

[eager fractal]

ah sorry, misunderstood your previous point, thought you intended to stake more in addition to your current stake

[broken herald]

maybe wait for ETH 2.0 to claim the rewards >_<

[gloomy gazelle]

There will be a v2 for the staking. It will optimize the gas fees in a number of ways. But staking and locking now will likely be better than waiting (not considering greatly reduced gas from eth2.0)

#887631374578757692

[broken herald]

Anyone concerned about impermanent loss when locked staking for 12+ months?

[next ruin]

Crazy APY more than makes up for it.

[broken herald]

right, plus revenue distribution

[gloomy gazelle]

Nope IL can’t be more than 100% and apy is close to 500%

[broken herald]

if the team can just launch a half-working game this will be pure madness lol

[gloomy gazelle]

Yes yes it will

And it’s GOING to work

https://tenor.com/view/illuvium-ilv-yield-farming-yield-farm-play2earn-gif-22468703

[thorn coyote]

Hello, I just have tried to stake my ILV tokens thru Trust wallet Dapps, I payed the core pool with my ETH, although the next step turns out a problem, I first managed to reduce gas fees to $17.76 for a reliable try, turned out useless. Than decide use standard gas settings... $132.96. Turns out the last one for my surprise was rejected as well as out of gas. Can I be able to recover my assets or at least fulfill the demanding fee for the transaction?

[gloomy gazelle]

Ethereum network has some tricky things for sure. Not really good ways to get your Eth back

Sounds like the first time you edited the gas limit. Never do that. Unless you really know what you are doing.

[gloomy gazelle]

Hey @exotic igloo @eager rover I’m working on helping someone using a trust wallet. Their transactions failed due to low gas limit. But I also noticed trust appears to be using legacy style transactions instead of eip1559. Would that be a problem as well? Or just bad estimates for gas limits

I mean MetaMask just works but… trust should too

[cyan rampart]

IF Trust is just underestimating gas limit, they should be able to manually enter an appropriate gas limit and be fine. If they just run into out of gas repeatedly, that'll likely solve things.

[gloomy gazelle]

Yeah that’s what it looked like

[exotic igloo]

Yea manually increasing it should fix it

They wont pay all of it anyway

[gloomy gazelle]

Thanks for confirming guys

[fallow halo]

Is there SLP pool only recommended for those with large amounts of ILV?

[cyan rampart]

I reckon if your total investment is anywhere over $1k, staking the SLP can be super worthwhile. The 2 main things to consider are: IL and gas

Staking SLP costs more gas (between swapping ILV to ETH, then ILV + ETH to SLP token, then staking) and claiming rewards costs more gas. You can, however, just claim rewards less often.

[fallow halo]

Yeah It is more than that, I just still am trying to understand IL. I just have a flexible stake right now

Someone explain IL like im 5

[cyan rampart]

If ILV price and ETH price diverge, you lose value compared to just holding those assets.

More divergence, more loss.

[fallow halo]

But APY makes up for that

[cyan rampart]

In most cases, yes it does, and then some. It's not guaranteed to though.

If ILV goes to $50 and ETH goes to $10k or vice versa, it probably doesn't.

[fallow halo]

But if I believe both are going to rise?

[cyan rampart]

Which isn't to say I think that will happen ofc.

If both rise exactly equally, there's no IL.

If one rises more than the other, they've diverged a bit, and there's some amount of IL. There's a calculator in the pins you can play with.

[fallow halo]

Gotcha so would it be smartest to have some staked in each pool?

[swift rune]

Impermanent loss is it even worth it when thinking about ETH/ILV pairs. Both long term play imo. If ETH goes up, I will end up with more ILV. If ILV goes up, then, I will have more ETH?

[eager rover]

gas limit issue may also be cause they sending token to wrong address/contract

[eager fractal]

i think it all depends on your view of the tokens, if your view is that both will go up in the long term, then i think IL will not outweigh the cap gains, staking yields and revdis
IL consideration is probably more for those whom are not so sure of how the pair moves im guessing

[gloomy gazelle]

Mmm I looked at the tx and it looked like a standard staking interaction with the ilv only pool.

[gloomy gazelle]

Or for those that look back and think… “if I’d only gotten SLP after the 10x on ilv I’d have way more ilv and slp.” But if they staked for long enough they’d have that much more ilv anyways

[cyan rampart]

I don't mean to be realistic "worst case" guy, but a worst case scenario for ILV could mean substantial IL, and people should think about things like that even when bullish. IL probably isn't a big deal, but there are realistic scenarios in which it is a big deal, and that's a risk you take by staking SLP.

[eager fractal]

hmm but under his view that both ILV and ETH will appreciate in the long term, what is this "worst case"

[cyan rampart]

Also I meant to reply to @swift rune , sorry for tagging you haha

[craggy field]

How would it make for a huge ILv nvm im dumb. Yeah if ILV dies off then you have nothing. But that is also if you have it staked in ILV.

[cyan rampart]

Aww man, don't make me run down a worst case xD

[eager fractal]

haha np mate, genuinely wondering too, would the IL be so great that it diminshes the returns if both tokens appreciate?

[craggy field]

I got it :p but ILV pool is not better than SLP pool if ILV dies

[craggy field]

This is purely my view on things do make sure to do some research yourself as well.
Do tell me if im horribly wrong of course (you stake your tokens 1 year but just looking at a 3 month overview):
Say you have 100% of your ilv staked in the slp pool, then in 3 months (with an avarage of 400%APY) you will have 100% in SLP and 100% yield, which is automatically sent to the ILV pool. So in this case you have 1.5x your investment in ILV.
If you do 50/50 both pools then after 3 months you have 50x2(SLP) + 50x1.3(ILV) worth of ILV revenue.
In numbers: A= 100%/2 =50%(SLP investment) + 100%(yield)
Total A= 150%ILV+50%ETH.

B = 50%/2 =25%(SLP investment and 25%Eth investment). 25%ILV + 50%ILV (yield) =75%ILV(slp total outcome 3 months)
+ILV pool 50x1.3= 65%

Total B = 75+65= 140%ILV + 25%Eth.

Note that APY might drop but with the current APY, if you put all of your money in SLP then in 3 months you will have more total ILV than when you put half half.
You will also have some ethereum. (half your initial investment)
So if you want returns then SLP is better than ILV and your risks are also lower because you have Eth as a backup.

[cyan rampart]

Realistic worst case (and I don't think this is likely, but it's possible). Game is delayed by 3-6 months or more from when it's intended to be released, and team/seed/preseed tokens start flooding the market. We don't have much for revdis because there's no game launched, and ILV drops to sub-$100 because of any of those factors, or even just a loss of confidence in the blockchain gaming space (could be caused by a collapse of another prominent P2E game with a somewhat dubious model).

All I'm saying is that writing IL off as "impossible" is a mistake, it's very real and it's a risk you take by staking SLP. It's not super likely that you get burned by it, but ignoring it isn't a good idea either.

[sand cloud]

100$ ilv? Take my money!

[sonic wolf]

this is the reason you decide if you take the risk and invest, which will be paid off handsomely if you hit jackpot

in my opinion ILV is fucking unicorn

[cyan rampart]

Same! I'm super bullish and hate being worst case guy, because it's not at all what I think is likely.

[hot lynx]

Hi guys can some tell me what 3.34 SLP = ILV / ETH

[mint cave]

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

[hot lynx]

Thank you Jeff

[hot lynx]

Does that mean I also need to buy ILV plus 3 X ETH ?

[cyan rampart]

SLP tokens are equal parts (USD value) ETH and ILV.

[hot lynx]

Understand. In the context of this tool . Does it assume that's the case ? It's probably a silly question. Just want to know thx

[cyan rampart]

If it's showing 3.34 SLP at 10580 and that being equivalent to 3 ETH, it's assuming you're staking 1.5 ETH + 1.5 ETH worth of ILV.

If you added 3 ETH worth of ILV to your 3 ETH, it would be 21160 total.

Also gas is pretty high rn, probably not the greatest time to stake. I'd also do it directly through Sushi personally.

[hot lynx]

You do it on sushi and then you lock it in for 12 months on the ILV site and then you get SLP 3.34 locked

[cyan rampart]

Yeah basically that. You'd provide liquidity to Sushi, they'd give you SLP tokens, and then you'd stake those SLP tokens for however long you wanted to.

[hot lynx]

We are in sync thank you. I have done it over time and lost track 😅

[golden sable]

hey guys a question, if i stake ilv for 2 weeks, and the 2 weeks pass and i have an option to withdraw the ilv, what happens if i dont withdraw it? is it staked with weight of 1.0 then?

on the dashboard page it still shows the same staked amount, so they have not been unstaked automaticaly

[brisk surge]

If you don't withdrawal it your ilv will still have the same weight until you unstake yourself.

[golden sable]

Ok so i have a high weigth with the option to withdraw any time 😮 ?

[cyan rampart]

Not a high weight, you have the exact weight you originally staked at.

For 2 weeks, that would be like... 1.04167?

But yeah, you can withdraw at any time, or leave your ILV staked at 1.04167 weight indefinitely, and it will continue to generate rewards 😛

[floral widget]

If they appreciate at a different rate then yes. They also can always be black swan events that will trigger a massive impermanent loss like today I watch a YouTube predicting eth to reach 30k by year end lol

[eager fractal]

https://tenor.com/view/hola-chao-gif-21096946

[golden sable]

yeah 2 weeks was just an example i meant original staked weight

thx for answers

[fierce cypress]

for staking we can use the rewards for in game right? but do we still have to pay the gas fee

[cyan rampart]

You can choose to claim your rewards as sILV, and you will have to pay gas fees to claim sILV.

!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.

[fierce cypress]

aw the gas fee is too much after spending most of my money on staking

[cyan rampart]

There's no rush, your rewards will accumulate until you're ready.

[pale trellis]

I’m now making about 0.55 ILV each day. Target is 160 ILV in 12 months.

[coarse dome]

anyone could help me

i just claim the rewards from the SLP pool,however it claimed out from the ILV pool

[cunning perch]

Nice. A whale in 2 years even if you don't play the game or add new tokens to the stake

[cunning perch]

Yes. Claiming SLP rewards will require you to claim ILV pool rewards too. It's a double transaction and therefore you pay 2 gas

[coarse dome]

my god

[pale trellis]

I’m so busy ill won’t have time to play the game “competitively” but really looking forward to it.

[brisk surge]

How many ilv do you have @pale trellis

[coarse dome]

the ilv pool only 0.47ILV, the gas fee is more than that

[cunning perch]

As long as your investment is bringing in more every single day, it's a win. You'll never want to exit

[pale trellis]

14 ILV, 8 SLP

[brisk surge]

I mean how many staked

[coarse dome]

feel really bad

[cunning perch]

Yes. That's why we say be mindful of gas and claim once both pools have enough rewards to be claimed

[pale trellis]

100%

[coarse dome]

any improvement for this, really not nice

[cunning perch]

For now, no. Later with V2, maybe.

[coarse dome]

now the ILV pool had 0.00011ILV, if i claim reward from SLP pool, it is also will be claimed?

[pale trellis]

I want to travel and live off the revdis for a few years.

[sacred cosmos]

https://tenor.com/view/thats-the-dream-hope-so-goals-dreaming-goal-gif-16683767

[pale trellis]

🥲

[austere creek]

hey can anyone tell me when does staking v2 come out?

[frosty totem]

I'm aiming for 100 ILV, hopefully 5 SLP will be enough.

[errant crown]

Does the vesting period start when rewards are claimed or when I earn the reward

[cunning perch]

#809220563397902346 message

[cunning perch]

When you claim.

[cunning perch]

It'll be implemented soon. Not gonna take long afaik

[pale trellis]

I’d be happy with that tbh.

[errant crown]

Are the gas costs associated with claiming rewards from the SLP pool flat or do they scale with the size of the reward?

[cunning perch]

The size is not relevant. You can claim 10 ILV or 1 ILV and pay $100 if gas is at 100 Gwei (approximately. Nothing is fixed and is subject to the change )

[errant crown]

Thank you, do my vesting rewards continue to earn at the same rate as prior to being claimed?

[cunning perch]

When you claim it will be added to your stake with a weight of 2X and starts generating rewards. The rewards ratio will go down eventually as APY drops 🙂

[errant crown]

Are you saying unclaimed rewards don't compound until they are claimed?

[cunning perch]

Yep precisely 🙂

[gleaming pilot]

Ok have 10K to invest. Now I need to decide between ILV or SLP. Go 50/50 or focus on one?

[cunning perch]

Your choice to be honest. You have to keep in mind that by trailer release and land sale there **might **be a major pump that would cause massive IL. and might not.....It's a personal preference.

[floral widget]

Also if you believe certain ahem YouTuber on eth being $30k lol. Then you can just keep in eth 🙂

[cunning perch]

You're not talking about CoinBureau are you? 😄

[floral widget]

Ya that one haha

[vapid thorn]

When V2 staking comes. Will i be able to add more tokens to my previously staked batch?

[cunning perch]

sure. But if you wanna get 2X, you need to lock it for 2 years and not one anymore

[vapid thorn]

Ok thanks!

[craggy field]

If Eth jumps as well as ILV then their price ratio should remain relatively constant (compared to when only one of them skyrockets). Would be a shame to keep your money as Eth if you can snag 300%APY for 3 months without a lot of IL if the hyped predictions happen (both ilv and eth mooning).

[silver nebula]

I've got a "Not a Financial Advisor" hoodie from him on order.
Guy = Gospel

[delicate cloak]

My favourite crypto channel for sure. Entertaining and delivers great info with linked resources. I don't think you can say the same for many other channels that analyse such a wide variety of coin/tokens and crypto topics.

I hope we get a video at some point. Probably once the beta opens. I don't see him covering it before there's an actual game to play

[south fable]

Is it true that the ILV rewards for staking in LP are constant regardless of how much ILV moons compared to ETH? There is a certain amount of ILV that is distributed to all LP token holders according to their weight in the pool so if ILV moons and ETH does not we are still getting the same amount of ILV? Of course given that no additional stakers enter the pool. Is that correct?

[soft prairie]

Hi guys I am thinking of staking into sILV pool, any great arguments of why do it and why not? Just want to know other peoples opinions

[south fable]

I am at 3 ILV daily now from my stakes, i wonder if ILV mooning vs ETH is a problem for me or not. I guess it is not.

I am aware of IL ofc, i mean the rewards.

[sacred cosmos]

NFA but big factor is the amount youll stake compared to the gas fees youll pay for it. But generally, a 12 month locked SLP is really good as the rewards will compensate any gas fees or potentially any IL.

[floral widget]

If you mean sILV Why do it , well if the price stay put you get some cut of transaction fee , why not, well if sILV spike then it going to get IL

[autumn cloak]

Do you mean ILV? Because you can’t stake sILV

[soft prairie]

Yeah I mean staking ILV into the sILV pool

[autumn cloak]

I think you mean SLP. sILV is a reward, not a pool

[soft prairie]

yeah sorry

[autumn cloak]

Ur good! I myself staked in SLP and have pretty much already made back my investment; but obviously it is up to you

[soft prairie]

great thanks 👍

[floral widget]

Technically you can 🙂 you just have to go uniswap and do it manually and the rewards aren't great

[autumn cloak]

Yea true. Just no official way to do it through illuvium

[steel jewel]

V2 Staking??

[autumn cloak]

New proposal yet to be approved by council. Supposed to make contracts easier and hopefully cut down on gas

[vapid thorn]

What Kyriffin said

[steel jewel]

Is it confirmed? Any releasedate known?

[autumn cloak]

No. But people are optimistic it will get approved

[steel jewel]

So it is just unicorn-talk 😅 i m more realistic than optimistic

[vapid thorn]

I believe in the community

[manic spindle]

The team is already working on staking v2 because an approval is more or less guaranteed. But the official proposal is still to be submitted which should happen soon 🙂

[high glade]

I have little to try staking, with $750 is preferable ILV or SLP?

[autumn cloak]

Probably just regular ILV. NFA

[tacit cedar]

It's two transactions to claim staking rewards with SLP, but only one for straight ILV, and your pot is fairly small compared to gas, so I'd personally go ILV only - but I'm not a financial advisor:P

[fervent trail]

Probably should not have staked all my coins at this high of a price huh 😅

If i stake for 12 month does that mean my coin double then double again at the end?

[tacit cedar]

No, it means you're getting 2* the rewards you'd get if you didn't lock in

[manic spindle]

12 months means 2.0 token weight which means double the amount of yield farm and revdis rewards compared to staking without any locking period. This is still bound to whatever APY or revenue amount there is, so it doesn't give you a guarantee to double your deposit 🙂

[fervent trail]

so that’s what the weight means. I get double what is show at year end?

[tacit cedar]

No. you'll just get double the rewards of someone who wasn't locked in at all

[autumn cloak]

So if you stake half an ILV at 2x weight, it will be like you staked 1 ILV

[high glade]

I think i'll be able to buy 1 ILV to stake, the best method will be to stake it in ILV and locked for 12 months and really late for low gas fees?

[fervent trail]

gas fees are the biggest finger in my butt dude. Don’t get how this will be in the future

[autumn cloak]

That’s what I would do. NFA

[fervent trail]

but your rewards are also stake for a year after remember

[autumn cloak]

Hopefully should improve with ETH 2.0

[fervent trail]

when

[autumn cloak]

Or you can always get sILV and liquidate at a cheaper price

[fervent trail]

sliv is only in game tho^

[glacial raptor]

Asking for a Eth v.2.0 release date? I too want to meet santa 😉

[autumn cloak]

You can sell it on secondary market at about 50% of ILV price. Also it’s gonna be awhile for ETH 2

[fervent trail]

if i make 2 sLV coins can i rly have 1 iLV coin instead then?

[manic spindle]

!claim You claim either or was yield farm rewards

[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.

[autumn cloak]

You’d have to swap to ETH and then to ILV so you’d lose some to gas, but yea you could do that

[fervent trail]

how often is Rev distribution

[autumn cloak]

Not known yet; but likely a few times a week once it gets going

[manic spindle]

!revdis

[woven ibex]

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

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

[gleaming pilot]

When I try and add liquidity to the SushiSwap pool I get this. Any ideas?

[sacred cosmos]

Did you swap eth and ilv in sushi swap to get slp?

[gleaming pilot]

this is what im trying to do but get this error in my metamask

[languid sage]

I got a question here. I staked some ILV for 8 weeks and it's just over (I can see the "withdraw" button on vesting page). What happens now? If I don't withdraw am I staked on flexible or is my ILV just sitting there?

[manic spindle]

Unlocked tokens remain staked and keep their token weight bonus from locking until you manually withdraw them 🙂

[languid sage]

Thanks man. I just wish I had staked earlier

So if I stake now for let's say 12 weeks, I will have 2 different weights on rewards right?

[manic spindle]

If you would deposit a new stake both badges would have different weights, yes. If you would withdraw now and restake for 12 weeks then your stake is locked for 12 weeks and keeps that token weight until withdrawn again

[languid sage]

Ok, thank you!

[autumn cloak]

This wouldn’t apply to me but I am just curious; say you staked for 4 weeks, and the time expired but you wanted to now restake for 2x weight, would you have to pay gas?

[sacred cosmos]

When you confirm the swap on sushi for the eth/ilv to slp. What prompt do you get?

[clear cape]

yes

[gleaming pilot]

Im using a ledger. Don't know if this is causing issues

From here I just press confirm

[autumn cloak]

Looks right

[sacred cosmos]

Oooh a ledger. I forget what the mods mentioned when using one with metamask. Maybe we can get someone to chime in. I know it had something to do with upating. Might be wrong.

[rich seal]

so if i send ILV from Binance to Metamask, i do not need to establish new token on metamask, because both is ERC20, and the illuvium token will automatically appear in my metamask?

[sacred cosmos]

Make sure to send under erc20

[gleaming pilot]

This is definitely a ledger issue. moved to a different wallet and now it is working.

[sacred cosmos]

I think I found the fix. Had to do a quick search here: "Make sure it is updated and “data contract” on the device is ON. And update your browser as well."

[versed coral]

Hi all, I am relatively new to ILV. I have just bought some on Binance and thought about staking. For that I thought about adding them to a coinbase wallet. What is the current APY of ILV staking?

[clear cape]

64%

[versed coral]

Is that for the 12 month locked staking?

[next ruin]

Yes, for the ILV only pool. So flex is half of that.

[versed coral]

Do you get rewards daily from the staking or how does this work?

[wooden torrent]

Is there any reliable way to calculate the reward of 1 ILV for 12 months locked staking? with the actual APY?

[next ruin]

APY will vary over time - total available rewards reduce 3% every two weeks and are split amongst all stakers. No way to predict how many will elect to stake and for how long.

[rich seal]

okay, and that is all? No need to establishing new coin in metamask before?

[mental saddle]

Is there any form of unstaking a flexible LP and staking it locked without paying a huge load of fees? Like reward claiming and locking at the same time or something?

[sonic lotus]

staking in the SLP will still result in ILV rewards correct?

[next ruin]

Correct. All staking pools can be claimed as ILV or sILV.

[sonic lotus]

if stakes in SLP. when claiming the rewards, I've read that you will need to pay gas fees twice is that correct?

[sacred cosmos]

Click add token on metamask to add ETH from the list if you havent

[next ruin]

If you are only staked in SLP, the first claim will be once. After that you will have a stake in both pools and have to do the double claims.

[sonic lotus]

ok thanks! So if I'm already staked in the ILV pool and I'm considering a small ammount for SLP. I'd probably be better off just stacking it all in ILV pool yea?

[rich seal]

I have ETH added. I was asking about adding ILV. is not necessary because they are both on ERC20 with ETH?

[next ruin]

Up to you. SLP is very high APY, but the gas does add up quickly. If it is a small additonal stake, ILV only is probably the reasonable choice.

[sonic lotus]

ILV pool it is!

[wooden torrent]

If i go flexible, means i can take mi Stake ILV whenever i want, but the rewards still gets lock for 12 months the moment i claim them?

[manic spindle]

!claim 🙂

[woven ibex]

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

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

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

[brisk surge]

yes but only if you claim ILV, if you claim sILV you can use it immediatley

[versed coral]

what is with that approving when i try to stake with my coinbase wallet? It is prompting me to pay some fees for what?

[sacred cosmos]

you need to add the address of ILV manually. so you can see it in your wallet. ILV: 0x767fe9edc9e0df98e07454847909b5e959d7ca0e

[honest crescent]

It would have been a lot nicer if the rewards from both pools were combined for 1 gas fee. dang

[wooden torrent]

@brisk surge Thanks 😆

[novel bolt]

If you check the first pin from this channel you see why they did it the way they did

[versed coral]

Can anyone help me with the approving process? Do I need to pay the required ETH amount just for approval so that I can start staking my ILV?

[real nebula]

yes

you always have to approval access to a token to allow a smart contract to interact with it. this is supposed to be a nominal fee, but ETH is so f-ed up that the nominal approval fee is no longer nominal

[sacred cosmos]

Check gas fees so you donr end up paying too much

[wooden torrent]

@versed coral I think is least expensive to do it like 1 AM.

[versed coral]

Is it like a one time thing where i approve my coinbase wallet and then thats it? Or do i require this always when i want to stake or claim something?

[sacred cosmos]

Every time you stake and claim.

[rich seal]

okaay, thank you very much! 🙂

[sacred cosmos]

Np! Let me know if you encounter anymore issues

[versed coral]

So if I stake now it is best to just claim after the 12 months to only pay it once?

[sacred cosmos]

Nfa. But if youre just trying to save on fees sure. But youre missing out on the compounding interest. Whenever you claim ilv as a reward its vested for 12 months and will earn with the same weight.

Usual strategy here is you claim ILV rewards whenver the bag is big enough to negate the gas fees.

[versed coral]

I understand. But what is the difference between staking and vesting? As it is simply redirecting me to the same staking page when I click on vesting

[manic spindle]

Vesting shows all the individual stakes you have, either deposited manually or claimed as rewards. This is also the page where you can withdraw anything that isn't locked 🙂

[versed coral]

So do I understand it correctly that the rewards which I claim from staking (if the bag size negates the gas fees), they're added to the Vesting pool in which they also earn as if they were staked like the ILV I staked at the beginning?

[brisk surge]

yes but only if you claim ILV, if you claim sILV you get that immediatley after claiming

[versed coral]

Got it. And the vesting is done automatically without me paying other gas fees or does it require an action from me other than claiming my staking rewards? So in the case of ILV

[manic spindle]

!claim Correct 🙂 ⬇️

[woven ibex]

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

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

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

[brisk surge]

it does it all at once but im pretty sure it charges you for two transactions?

[versed coral]

I understand, thank you very much. 🙂

[analog iron]

You can only get sILV from staking rewards. Is that correct?

[manic spindle]

Currently, yes. Yield Farm rewards to be specific because RevDis is a staking reward as well 🙂

Unless you buy sILV on the open market of course.

[analog iron]

Oh, interesting. Where is it sold?

[manic spindle]

There is no official pool for it but that obviously doesn't make it illegal 🙂
You can see where it trades here: https://etherscan.io/token/0x398aea1c9ceb7de800284bb399a15e0efe5a9ec2#tokenTrade

[analog iron]

Got it. Thank you!

[fallow gate]

Hi guys. I’m a nubee, I have now my ilv tokens in my ledger nano x live, how do i stake it for locked 12 months now on ilv pool?

And do i need to update my ledger x firmware to 1.3.0?

[manic spindle]

You can see here how to connect your ledger with metamask and then you can use metamask to log into the staking page and stake your tokens (which will require you to confirm the transaction on your ledger): https://metamask.zendesk.com/hc/en-us/articles/360020394612-How-to-connect-a-Trezor-or-Ledger-Hardware-Wallet

In general, I'd advise to keep your ledger updated, yes. Be aware though that updates sometimes/always seem to reset the permission for the ETH app to interact with contracts. So that has to be activated again in the settings.

[fallow gate]

Thank you

[versed coral]

Which gas fees are actually 'good' to have? 😄

[cunning perch]

You see anything under 30 Gwei, it's blessing these days

[versed coral]

No matter the speed?

[cunning perch]

I only use fast, so, anything under 30 with fast is just a jump-in sign to me (these days. in the past it used to be under 10) but 40 is good too

[versed coral]

Does the speed matter if I just want to use for approving my wallet?

[wooden torrent]

@cunning perch Is it true that doing it during unholy hours (like 1 AM) is cheaper?

[versed coral]

Which timezone 1 AM would that be then?

[cunning perch]

Depends on your time zone. Usually weekends are cheapest but there's never a guarantee.

[cunning perch]

Might slightly. It's still done on a smart contract

[wooden torrent]

@cunning perch Which means that the best moment for is during the weekend late when everyone is asleep?

[cunning perch]

Probably. It's always something to look for but might not happen at all. Two weekends ago it was 30 the whole day, while last weekend it wasn't

[wooden torrent]

@cunning perch I think i'll wait while monitoring, i worried that the price of ILV will go up but best to try to minimize those horrible fees.

[cunning perch]

Well, that's why everyone needs to have plan. Cuz one thing might work for you while it might not work for someone else 🙂

[wooden torrent]

@cunning perch Thanks for all your help, i hope that my meager investment of 1 ILV is justified in the future.

[cunning perch]

No problem brother. I hope you'll make much more $ with it. 👍

[static moth]

hey guys! is there a minimum quantity of Ilv in order to stake?

[next ruin]

No official minimum, just be aware of the gas you'll be paying for all the transactions and make sure it is worth it to you.

[wooden torrent]

What happens if in the future i have more funds to stake but there's currently 1 ILV staked and lock for 12 months?

[cunning perch]

You can stake as many times as you want. It'll compound.

[wooden torrent]

And will i have to choose every time if i want flexible or lock?

[next ruin]

Yes, each stake is it's own "batch" in that case.

[cunning perch]

Yep. You have the option stake with different locking period or even in flexible pool

[wooden torrent]

@next ruin@cunning perch Nice, thanks.

[next ruin]

The rewards will combine and be available to claim together though.

[safe rivet]

Is it better to wait to claim silv when we move to layer 2 ?

[next ruin]

AFAIK the staking contracts aren't moving to L2 anytime soon, if at all.

[safe rivet]

Yea then I'll just claim when gas are low again :)

[mental saddle]

Can I use my ILV rewards to fuse with Eth and create SLP, instead of buying ILV, or the vesting period unables that?

[manic spindle]

!claim Claimed ILV as Yield Farm rewards are locked for 12 months, no way around that. You would then have to withdraw them, combine with ETH on SushiSwap for LP Tokens and restake those LP tokens in the LP pool 🙂

[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.

[mental saddle]

Ahhh..though so aswell....thanks! 🙂

Damn...those tokenomics are really genious....even if the game was ugly, that alone would hint sucess! Unless there is some nasty market crash or crisis, there is no way Illuvium wont be a huge sucess!

Im tempted for a all in YOLO mode 😛

[manic spindle]

https://tenor.com/view/morpheus-believe-neo-beginning-to-believe-gif-5399492

[trail remnant]

Can anyone help me with something, why should i, or should i not, invest in ILV/ETH LP tokens, instead of just the ILV staking.

[mental saddle]

lol!

[trail remnant]

is the success of that token associated directly with eth?, im kinda noob in LP stuff

[cyan rampart]

Associated with ETH and ILV. There's guides to Core Pool ILV vs. SLP pool in the pinned messages you should check out!

[mental saddle]

If I understand correctly, in ILV/ETH staking even if a huge impermanence loss occurs (for instance ILV moons and Eth goes sideways or slows....), all that loss is recovered in 1-2 months with those pornographic 500%ish APY....

[trail remnant]

i see, it is indeed tempting , prob gonna go with it after reading through again

[cyan rampart]

In most cases this is true. If It's ILV that crashes, your rewards are in ILV, so you could potentially be in hot water. There's a calculator you can play with.

[trail remnant]

its just that i don't like micro manage , so i rather just leave it staked and boom, in case that wasn't LP tokens i would end up going with the other one

[mental saddle]

True! Guess is the only bearish scenario...

[cyan rampart]

FWIW I'd stake the SLP, personally, even knowing about the risk of IL etc. NFA ofc.

[trail remnant]

yea.. i'm always up to the risk, i think in this case ILV looks very solid eth's not going anywhere also]

[mental saddle]

Me too....SLP all the way. Alas, all the (big) ILV rewards are autostaking when you claim them anyways

[trail remnant]

compounding is nice

[mental saddle]

My only doubt is if I go flexible SLP or locked...flexible get half the APY but gives some peace of mind...

guess it depends on risk management and tolerance really

[trail remnant]

for sure yea, i feel funny investing 600 bucks on the token, i know it is governance. but would my money get me anything here? i have like.. a couple eth only.. broke lmao

[cyan rampart]

I'd be wary of gas fees so they don't eat most of your investment, gas is high right now.

[trail remnant]

how much would i have to invest to get to play the game well (semi competitive or smth) is there any idea on how much could that be.. above all i really want to play this

[mental saddle]

agreed....best way is to check gasfee time chart and do all the staking when its around 50 or less gwey...

[trail remnant]

oh yea i never invest with gas above 70, only if its NFT art and its pumping, but thanks a lot for the tip

[mental saddle]

first time I tried to stake SLP it was around 200 gwey and I almost had an heart attack... 😛

[cyan rampart]

IF you're willing to be efficient and are good at playing the game and market, you could get by for pretty cheap. It's very hard to say what you'll need to spend to play right now. A T1 travel cycle with a single Illuvial capture could be something like $30, and higher tier travels will probably be more. IF you can gather materials and sell Illuvials, you could mitigate a lot of that cost, but we won't know by how much until we're live.

[trail remnant]

interesting, i'm gonna DCA then, start with one eth and see where i go from there

[versed coral]

so I have just approved my wallet and noticed the crazy gas fees now for staking, is there any time limit or something until when i need to reapprove my wallet or something to stake?

[cyan rampart]

Smart!

[cyan rampart]

I don't believe there's a time limit or anything, you should just have to approve your wallet once.

[trail remnant]

how does DCAing would work on a LP? cause since the rewards are timed, how would that work? sorry ,i ask too much i know 😂

[versed coral]

I surely do hope that's the case 😄

[cyan rampart]

I've never had to reapprove my wallet and it's been 2-ish months?

[brisk surge]

For Zerion, to become SLP do we just need ETH and it split it and swap it automaticly to give me SLP?
I don't found any info on it.

[fallow halo]

Is it recommended to split investments between pools?

[summer pewter]

Staking rewards somewhere?

[ripe steppe]

not familiar with zerion, the recommended way to get SLP is to buy ILV with half of your ETH you want to stake, then stake that ILV and ETH in the Liquidity pool (you can trade your ETH for ILV and then both for SLP in the link below) as for if its recommended to split, its personal choice (personally I only invest in SLP and stake than for the full 12 months because all the rewards from that end up in the ILV pool anyways and the APY is much greater and in my eyes the risk is very little compared to the potential rewards, not financial advice) Good Luck! https://app.sushi.com/add/ETH/0x767FE9EDC9E0dF98E07454847909b5E959D7ca0E

[fallow halo]

Thank you for the insight @ripe steppe . Looking forward to a video on new Land updates any any analysis you can provide.

[brisk surge]

Ok thank you, that's how I used it before on Sushi, I was thinking it will be easier in Zerion but ok, I'm fine with Sushi. 👍

[analog hamlet]

Just wondering, is the treasury staking and receiving staking rewards too?

[manic spindle]

revdis yes, yield farm no 🙂

[timber cradle]

Can anyone see their staked positions in Zapper?
They are not loading for me

[next ruin]

I can see everything clinking on the Illuvium "Platform" on there, but yeah the stake doesn't show in the Account Overview section since this morning.

[timber cradle]

Okay, thanks!

[nocturne monolith]

In the off chance there's a bug.. what are the chances we could all lose our stake?

[next ruin]

I mean, there's always some risk with smart contracts / DeFi. However, the stake is still visible on the main Dashboard and even in a subcategory on Zapper - so it sounds like a simple display issue on Zapper's end.

[craggy field]

Yo guys who is "good" at maths and has spare time? (I never scored higher than C's at highschool... so it can't be all that hard if I can think of it lol) I'm looking for someone to proof read my SLP/ILV guide and point me at my mistakes. 6 pages with some graphs 🙂 Would really appreciate it!

[drifting pilot]

Are there any incentives to stake in Liquidity Pool once the yield farming stops in 3 years?

[hollow kelp]

LP not really. Staking in ILV core will enable you for rev dis

[drifting pilot]

Thought so, thanks for the answer

[iron pebble]

Jesus the gas fees

[real nebula]

its just stupid. these nft mints are killing everything.

[wooden torrent]

What is the best way to monitoring the gas price?

[wide eagle]

pc or mobile?

[wooden torrent]

Both i guess 🤣

[severe hinge]

Hi , a noob question, gas fees are high today, 100 gwei = ~$8, based from the chart i am looking, but was trying to claim ilv rewards, but charges me $75. I think im missing some equation, are there any hidden charges ? Lol , TIA

[floral widget]

I place a gas widget on my home screen

[severe hinge]

Where u get ur gas widget, i think i need those 🙂

[floral widget]

For me I am on iPhone so I used Zerion

[severe hinge]

Ill check if has for android 😁

[charred rampart]

For impermanent loss the calculator spits out a loss based on 500$ of each in to slp. If I wanted to calculate the loss based on another initial investment, how do I do that?

[wild zinc]

It's about right! Gas fees are expensive for little fish like me!

[ionic peak]

Yup. Gas fees are way to much. This is a rich peoples invesment

[severe hinge]

Hey, im a little fishy like u too 🐟🐟🐟

[sacred cosmos]

Please let me know if you found for andorid! I need one too lol

[granite halo]

Been waiting a week to stake another 4k, because the gas fees are so high but in that time I missed out on 1 ILV worth of yield. Wut do...

[glad musk]

Just stake it lol.

And cry, but then, celebrate.

[sacred cosmos]

Its almost the weekend so might as well wait 1 more day for good gas fees

[last summit]

How to stake more ilv when you already have a 1 year locked stake?

[autumn cloak]

Just the same way you staked the first time. It will just be a separate stake. Buy ILV and pay gas to stake on illuvium website and choose flex or locked and if locked, for how long

[last summit]

Will the rewards accumulate together?

[autumn cloak]

Yep. And you can claim them all in one swoop

[last summit]

If I want to send from binance, do I send to my MetaMask and can I stake it immediately

[sacred cosmos]

Just be wary of gas fees as you will be doing two transactions. One for claiming another for the additional stake

[autumn cloak]

Can someone else help with this? I have no experience with Binance

[wintry fossil]

Yes you can stake it directly from your metamask wallet. that's how I did it. Just keep in mind that you'll be paying 2 gas fees.
1 to transfer from binance to metamask and a 2nd one to stake from metamask to the illuvium site

[sacred cosmos]

You copy your meta mask address then go to binance go to wallet > fiat and spot then find your token and click withdrawal. Paste your meta mas address there and click erc 20 then confirm

[last summit]

Appreciate it guys!

[fallow gate]

Can someone let me know as i’m using my ledger nano x for first time to staking through metamask. I would like to know if i have to have the gas money in my ledger live or metamask account ?

Should i buy eth?

[barren glen]

Hi bankless community! I'm relatively new to staking and wanted to know if I owe the IRS tax on my staking yields and how that is calculated? Do I owe anything at all? If so, what is the tax rate, is there a short term and long term rate? Is it taxed when earned or when I sell?

[autumn cloak]

We try not to talk about taxes in here. I recommend you look up some articles to read online

[ornate cypress]

Just do it manually, I did the exact same thing. So instead of 500 and 500 in two tokens, you figure out what 1000 in the one token would be worth

You will also notice that Impermanent loss is a lot higher

[cloud oriole]

How much do you need to make staking worth it. I know it's mainly a personal call, but being a noob it be nice to hear opinions

[sacred cosmos]

This is definitely dependent on your local/national tax laws. DYOR on how your country is (1) considering crypto as a security (2) when income is derived. Like for claim rewards, is it considered an income already if you havent claimed it (transferred ownership?)

[sacred cosmos]

Use the staking calculator but what you should be looking at is the cost of gas fees vs the potential gain of what youre staking. Figure out a percentage which will be the gas fees for staking and claiming that is acceptable to you as a loss. So say in a 1 ILV yield at 600 usd price thats 600 USD in gains and your claim and stake gas fees would amount to say 200 all in all. Would a 1/3rd loss be considered acceptable for you? again NFA :D

[cloud oriole]

Thank you. I'm also confused on how the claiming works. Like if worried about gas fees why not just not claim or does claiming allow the claimed reward to also earn yield?

[autumn cloak]

So when claiming you have two options to claim in: sILV or ILV. sILV if claimed is available immediately and is an in-game currency. ILV if claimed is set to a 12-month vesting period where it compounds. So you are basically staking it

[sacred cosmos]

For claiming, you just do the similar percentage of acceptable loss computation. Which basically translates to wait until your ILV (or sILV) claim bag is big enough to compensate for the gas fees of claiming

[cloud oriole]

Can you claim silv one time and ilv another?

[autumn cloak]

Yep. But each time you claim, it claims all of your rewards, and you can not split between the two in one claim

[cloud oriole]

And do you just Google a calculator or is there a link on the discord

[autumn cloak]

Check in pinned messages; lots of calculators posted in various channels

[cloud oriole]

OK thanks very much yall 🙂

[autumn cloak]

No problem!

[ivory anvil]

the gas fee is very high

[gilded wigeon]

is 400$ enough for gas to stake in 1.5 ILV in SLP pool? given i wait for gas to go down to atleast 80ish gwei??

[fleet owl]

So the gas costs 100ish dollars... how do i calculate the rewards for the LINK flash stake pool?

[gilded wigeon]

Yup the gas fees are always an issue for small investors like me

[autumn bridge]

Question. Hopefully somebody from the community could answer and will be highly appreciated. What would be the difference in sushiswap if you add liquidity. For example. 50 percent liquidity. Ilv/eth

[gloomy gazelle]

!lp

[woven ibex]

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

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

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

[gloomy gazelle]

!staking

[woven ibex]

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

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

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

[gloomy gazelle]

Did the posts above help?

[autumn bridge]

Yes it really did. Thank you! I already have ILV and i am thinking my next move. Thank you for your time! Now i can decide. Thank you!

[mighty bolt]

Will there be a time when we have no choice but to claim ilv?

Or is there a time where we can’t claim rewards as ilv anymore and it’ll only be silv, which would mean if we do not plan right we won’t hold more ilv?

[gloomy gazelle]

ILV will always be an option for claiming. sILV will be an option until the end of yield farming. sILV may endup being an option for claiming revdis even after the end of yield farming. But that would require an IIP to be voted and approved by the council.

[toxic spoke]

hey, I did the combined sushi/eth thing and locked in for 6 months. I don't have to do anything right? cause it's locked. right? sorry , newb here

[sand cloud]

All you have to do is wait and be happy about making a good decision ^^ nd maybe collect rewards every now and then xD

[gloomy gazelle]

You can leave it. But as the rewards pile up you can claim/vest them so they are able to earn as well and get closer to their unlock time.

[toxic spoke]

ok, sorry.. how do I see the rewards?

[gloomy gazelle]

Under rewards tab

[toxic spoke]

in metamask?

[gloomy gazelle]

No on the illuvium staking website

[toxic spoke]

oh ok, got it. thanks!

[gloomy gazelle]

You should lookup a staking video by deraji or vetemor. They have several great videos on YouTube that may help you know what’s up

[toxic spoke]

I will, I just followed some steps on a website. now I'll do the researh and figure out what I've done

[turbid drift]

When do we think the revdis for DeathRoad will be distributed?

[sand cloud]

I think it'll be in v2, so couple weeks mby? There was a council session yesterday, ppl thinking it was about v2

[turbid drift]

Ah okay, will claim rewards in a few weeks then! Thanks

[rocky fox]

When claiming ilv, how many gas fees do we gotta pay? Just 1 or?

[slim vortex]

Im currently staking 2.68 ILV where can I see the improvement?

[gilded wigeon]

i suggest u check the pinned messages here or watch vetemor on youtube.. there's some calculators for staking and gas on pinned messages

[sand cloud]

Dashboard on the staking site should have all the info you need

[rocky fox]

I'm staked on ILV/ETH do I necessarily need to claim my SLP rewards as well? Or I can just claim the ilv?

[cunning perch]

You can do ILV, but whenever you wanna claim SLP you will have to claim ILV again first, regardless of how many rewards (however tiny) you have in it. I suggest let the rewards pile and claim SLP to claim both pools when gas is lower.

[arctic harbor]

when staking Illuvium w/ Eth, in the core method, there is fixed that pays out up to over 500% apy. Is that 500% applied to both the Ilv & the Eth pair you staked, or to just Ilv? Sorry for the noob question, will be my first time staking.

[brisk surge]

The rewards you receive will be 100% ILV, once you claim them they are then staked in the ILV core pool and vested for 12 months

And yea the 500% is based on the value of your SLP which is the total value of your ETH/ILV

[rocky fox]

no lock on SLP rewards right? If that's the case I'll do it at once when the ILV is unlocked 😄

[arctic harbor]

ok, would have been nice if rewards is applied to ETH too, lol, but I guess that would be too good to be true.. .
Is it only 12 month option? I thought you could select how long you wanted to stake, maybe only 3 months, e.g., No?

[cunning perch]

SLP rewards are also in form of ILV/sILV. If you claim ILV, it will be locked. If you claim sILV, it will be released to your wallet.

[cunning perch]

You can lock from days to 1 year. Your choice

[sand cloud]

The rewards are based on the slp token total (ILV+ETH), but rewards are only in sILV or ILV

[brisk surge]

You can adjust how long you want to stake. Click on the locked tab and you can drag and adjust the slider to however long you like

[arctic harbor]

got it and only the sILV is in game currency, right? can't Use ILV?

[fresh grail]

you can use eth too, but no ilv for in-game

[arctic harbor]

so ETH or sILV, can be used in game, but not ILV, correct?

[fresh grail]

correct 🙂

[arctic harbor]

so it's almost like, do i want to get paid out in, in-game currency that i can use, .. or do i want to get paid out in the crypto coin that I want to hodl, trade or sell...

Thx for the info guys.

[fresh grail]

or stake and claim revenue from everything in the ilv ecosystem

[gilded wigeon]

question..i have flexible ILV on ILV pool that i want to transfer to SLP..ifci removed it from pool , by the time i will put it to SLP, do u guys think i need to claim rewards AGAIN in ILV pool? ( im thinking by the few minutes of transfering it to SLP the pool will accumulate tiny rewards that i will have to claim it to stake again in SLP that it will cost me another gas fees)

[cunning perch]

Yeah when staking again you will be forced to claim ILV rewards too (however tiny)

[gilded wigeon]

so even for a few minutes of transfering , it will start accummulating rewards already?

[sand cloud]

Yes, of you're gonna withdraw your stake, don't claim rewards before, the withdrawing transaction will include a claiming transaction

[cunning perch]

Rewards are generated every 15 secs. So you will always have veeeeeery tiny rewards in ILV pool

[vivid ruin]

If you withraw everything you probably have nothing to create rewards. So that might work

[gilded wigeon]

oh well...i guess ill have to leave it in ILV and save something up to put in SLP... thanks

[cunning perch]

Fully withdrawal happens in 4 years 😄 cuz your locked rewards will generate rewards too. (unless you take aaaaaall your rewards as sILV I guess)

[gilded wigeon]

Nope, coz i have a few locked ILV, i just want to try SLP pool so im thinking of transfering my flexible stake

[cunning perch]

No worries. Make a plan, stick with it, and you GMI 🙂

[fresh grail]

Only worth it if you have enough to offset the gas cost

[gilded wigeon]

Yup thanks..its just that im only a shrimp and gas fees are really a big deal for me so it doesn't hurt to ask first before i do something stupid😁

[brave needle]

Hello! I have a doubt after reading pinned message. Vault distribution stops at three years or just stacking rewards?

[sand cloud]

Yield rewards stop after 3 years, after that it's all RevDis

[gilded wigeon]

I think its just yield taht will stop...but revdis will continue for the whole life of ILV token..even they start other games or movies or burger stand we'll get our revdis😁

[sand cloud]

Illuvium burgers 🤤

[digital narwhal]

Just locked my investment for one year! let's go!!!

[cunning perch]

Staking never ends (as long as games and other projects are functioning). In 3 years as @sand cloud mentioned, YF will end but RevDis will continue to go on. So if you want it, you need to be staked 🙂

[cunning perch]

https://tenor.com/view/loveyou-christmaspajamas-excited-youre-the-man-thats-my-boy-gif-13020038

[digital narwhal]

https://tenor.com/view/leonardo-di-caprio-cheers-great-gatsby-gif-10577278

[rocky fox]

I watched this video - https://www.youtube.com/watch?v=C6YugU4zZr4 where he mentioned that the best way to claim ETH/ILV rewards was to claim just the SLP and that it'd claim the other ILV automatically, does that mean I can claim both with just one gas fee or?

[brave needle]

Oohhh nice. You stack ILV for revDis. Sounds awesome

[cunning perch]

Yep. The longer you stake, the more weight you'll get. So, you'll get even more RevDis. (just to have completed my explanation) 🙂

[cunning perch]

Nope. This is exactly what I told you. Let rewards pile cuz claiming SLP needs two Gas (for two TX) (for both pools) so the gas will be worth paying.

[rocky fox]

they've been piling for 2 months now it's probably time, that's why I'm asking, the APY(first transaction) is where 95% of the actual ILV rewards is at right? So I can just do one transaction and claim that reward and let SLP reward pile up further, would that work? Also thanks for being so responsive 🙂 It's just that every transaction is a robbery at this point and don't want to have to spend even more on magic internet transactions 😄

[cunning perch]

Sure. But then you will be paying 3 Gas (ILV and later SLP/ILV). Better to claim when you are ready to claim SLP (2 TX). My opinion though 🙂

[rocky fox]

so i'd be delaying the inevitable since to again claim ILV I'd need to claim SLP first?

[cunning perch]

You can always claim ILV pool. But since claiming SLP already claims ILV pool rewards too, it makes more sense to always claim SLP. Though that's always up to you. 🙂

[rocky fox]

okay I'm confused now, why do you say SLP claims the ILV rewards as well when I'd still have to do 2 transactions and pay 2 gas fees to claim both ILV and SLP?

Like I've already claimed ILV by the time I claim the SLP which is supposed to also claim my ILV 🤷‍♂️

[cunning perch]

You press claim SLP rewards, it will ask you to first claim ILV pool rewards and then it will claim your SLP rewards. (always 2 TX)

[gilded wigeon]

Anyone know any alternative when gasnow go down on the 15th??

[manic spindle]

Haven't used it myself a lot so far but I know of: https://ethgasstation.info/

[brave needle]

Gass goes down this month? Why?

[granite halo]

Cause china banned crypto

[gilded wigeon]

No..what i mean is the website gasnow is shutting down this month.. that's where i usually check gas fees

[iron pebble]

Stuck here since like an hour ago, what should I do? Can't speed it up either 😦

[cunning perch]

Is it for SLP claim?

[iron pebble]

It says insufficient funds while showing me an estimate of $140 and I have $190

[cunning perch]

Is it for SLP claim?

[iron pebble]

Yeah, I claimed the rewards, that went okay, but now the second step (staking) is stuck there. If I cancel I'll get destroyed by paying claiming rewards again

[cunning perch]

I don't think canceling is that gas-consuming. You can cancel through Nuance (you can check MM FAQ for that or inquire from their customer support) but maybe there is a gas spike or something that is taking so long to claim

[iron pebble]

Cancelling probably isn't, but if I try staking again, I'll have to pay the reward claming gas fees again

I don't know why it's taking so long, gas is the same or lower than when I first made the tx

I guess I'll just have to wait until gas gets lower

[cunning perch]

Did you do slow or fast? When I do fast + raised limit, it goes through in seconds. Personally have never experienced longer than 5 minutes of staking/claiming.

[iron pebble]

I just went with what MM showed me, I usually dont touch that

I'm guessing gas is way higher than I thought even if the gwei number is the same it was when I made the tx. IDK, I hate gas fees so much

[brave needle]

200$ gass fee seems sad

[granite halo]

So just want to get this straight.

If ILV outperforms eth. Lets say Eth goes to 4k, and then ILV goes to 2000, we lose tons of ILV due to Impermanent Loss right?

So then why the hell do people want ILV price to hit new highs? Wouldn't it be best for the price of ILV to go down, and then we earn even more ILV?

[rocky fox]

that's not exactly how it works, tbh I don't even care about impermanent loss with that sort of APY, that APY is paid in ILV which will be approximately 5x my initial investment for example and I'd love for ILV to appreciate in value because I'm not getting any less of the ILV and it's now pumped for example, my initial investment would appreciate as well but not as much as if I'd hold ILV, but it also helped me gain 5x more ILV so totally worth it, that's my POV at least

[rocky fox]

the hate is shared, I simply put them at 41 gwei, if it hits it, okay, if not - it will at some point 😄 this or next weekend

[granite halo]

Where do you see 5x your investment? Are you expecting nobody new to go into the pool, and ignoring the reward decay rate?

Lelahel/Deraji's calculator comes out to more like 3x at most for me.

[iron pebble]

Okay, it fucking passed through. Just had to manually modify the GWEI and pray to 3 different gods that it works. Payed exactly what I was supposed to pay from the beginning. Fuck gas fees again. Good night lol

[rocky fox]

there is a decay but it's not that significant, in my case it's with ILV increasing in value as well, I put 500 usd in that pool when ilv was 150$, today I saw I farmed 2k$ worth ot ILV with that 😄 so in my case more like 4x the initial investment in 2 months 😄 if I were to take profit rn(which we can't but, theoretically)

[light gorge]

Maybe just hedging by buying ilv or staked it can help to reduce effect of impermanent loss. You should balancing your asset by sushi lp and ilv.

[limpid forum]

Does is cost us absolutely nothing in gas fees when we claim rewards, which then move to vested ILV since it's a contract interaction ?

[rocky fox]

and even if ILV would stay at current prices, 500% apy means exactly that, 5x your investment 😄

[rocky fox]

it absolutely costs us around 100 usd gas fees in the good case rn to claim those 🥲

[iron pebble]

Claiming rewards costs around $50/60 rn, the problem is then having to stake for another $100/120

[limpid forum]

strange... I'm seeing nothing. $0USD
I was waiting for an opportune time and RN the gas is near it's lowest. It appears as though I was charged nothing. which seemed mad odd to me.

[rocky fox]

damn tell me your cheats to do free transactions on eth, PLEASE

[limpid forum]

You must be extremely good looking, and a genius, and very modest. luckily I'm all three.

[dusky eagle]

Hi, if I have ILV on Binance, I can stake directly or need to pass from MetaMask?

[limpid forum]

I'm baffled.... what am I missing!?

[sacred cosmos]

Check activity in etherscan or ethplorer.io

[white mesa]

on the core pools my ivl / eth LP are also blocked 52 weeks. or just the $ ivl rewards?

[limpid forum]

success, 115 block confirmations, value $0 but transaction fee $88. 0 of my assests have been taken though, on my side it shows as 0$. Hey. I ain't complaining.

[limpid forum]

your SLP are locked for 52 and then, whenever you claim your rewards, those rewards, as ILV or as sILV (whichever you choose) will then be locked for 52weeks from that date

[white mesa]

impossible to recover them if urgent? For gaming

[sand cloud]

SILV claims go straight into your wallet but ILV claims go to the ILV pool for a year

[cyan rampart]

Locked is locked, if you locked your SLP for 52 weeks, they'll unlock 52 weeks after you started the stake.

You can choose to stake flexibly if you don't want to lock a stake.

[craggy field]

Does the yield farming end in may-2024?

[cunning perch]

Em...3 years should make it July 2024 🤔

[craggy field]

thanks i thought yield farming started in May!

[cunning perch]

Nope. July 1st 🙂

[wooden torrent]

I don't really get how much it will cost to stake my 1 ILV, it says there like $14 is that what is gonna cost?

Or $7 in the case of the least expensive ones?

Or that amount is multiplied for the number of confirmations?

[brave needle]

I would say192$ fast transfer, 93$ average transfer

I wouldnt pay that for 1 ILV, minimun 2-3 ILV

[cyan rampart]

Transfer fees are the cheapest fees. If you try and stake your ILV, you should get an estimated cost to stake before you actually approve the transaction. That'll be the best way to tell. It'll be more than a transfer.

[wooden torrent]

Great 😩 , probably won't be worth it to stake, even if the gas fee was low is there any point to stake 1 ILV?

[rich seal]

is sushi swap the only option to get SLP token?

[drifting dew]

Binance and transfer it over to metamask

[floral island]

hi is there a minimum amount to stake illuvium?

[rich seal]

So I can also buy SPL on Binance? I have eth and ILV on binance already

[drifting dew]

Not spl, ilv

[rich seal]

okay, so when I have ILV and ETH on binance, I send it to MEtamask, then connect metamask on Sushi Swap, buy there SPL - send it to METAMASK and connect metamask to ILLUVIUM and stake, have I right? Thank you for help.

[rocky fox]

where can I read about staking 2.0? Will it help with the gas in a way? 😄

[wanton field]

afaik they're working on the smart contracts and part of their goals would be to reduce gas costs

[sacred cosmos]

You can try going to #809220563397902346 then open the thread icon on the upper right side of discord. Theres a thread on V2

[brave needle]

When will be the change?

[gilded wigeon]

check out vetemor's video on youtube its a bit in depth on staking 2.0

[molten thistle]

If you are patient and keep watch on that gas meter, you can catch it in the 50s or 60s and get a much better price than when its 190s 😵‍💫

[molten thistle]

gwei in the 190s means wait til its lower hehe

[sacred cosmos]

Looks like November for V2 earliest.

[mental saddle]

Yes....You can send ILV and ETH to Metamask, connect to sushi swap, create the SLP token fusing your ETH and ILV in a 1:1 usd ratio, and then its already on metamask (you can be prompted to add the token, its better to do that). Than connect to illuvium site and stake.

[mental saddle]

Oh and be on lookout for decent gas price, under 60 if possible...

[molten thistle]

Top right of the staking dashboard shows current gas fees (GWEI). Changes about every 10 seconds, updated real time

[gilded wigeon]

i suggest do ur transactions every Sunday, thats when i stake or claim rewards...you can catch it at 50-60 Gwei

[mental saddle]

Thats a good call...APY decay is 3% each 15 days, so 1,5% month. End of 52 weeks you get 78% less, and with more stakers it will go down too. So even if it not 5x, it can be easily 3-4x 😉

[molten thistle]

ProTip: many people are watching that, its a global price, and claiming/staking take multiple transactions, so if you see it hit 60 and click go, it might have jumped up to 150+ by the 2nd transaction (from so many people clicking go when it drops really low). So watch that fee for the 2nd confirmation and if it has gone really high, just leave that window open and wait for a few minutes, it will go back down, and you can click through that 2nd transaction for less cost.

[mental saddle]

1,5% pwe week I mean

[rich seal]

ok, thank you! 🙂

[brave needle]

So i can stack v1 for a year and switch to v2 in november?

[cunning perch]

You can stake in V1 for a year and after the year is up, if you want more YF rewards and RevDis you will have to migrate to V2

[brave needle]

Oook thanks. Its better for my ammount to wait until V2

[eager fractal]

do note that for v2 if you want the same 2x multiple, you'll need to lock for 2 years instead of 1 though

[abstract crown]

that's only if you haven't already staked with 2x currently right?

[cunning perch]

@eager fractal is correct. If you plan on locking for the maximum weight, V2 will lock it for 2 years. If you don't plan on selling for a long time, then it really won't matter.

[versed coral]

So I am planning to lock my ILV for the whole 52 weeks, do I need to wait for V2 to do so or doesn't it matter to me? (Dont plan to sell for a longer time)

[eager fractal]

if you already plan to lock for the full 52 weeks, doing now is better because you only lock it for 1 year and get that 2x APY, once v2 rolls over, you need to lock for 2 years for that 2x weight

[versed coral]

Oh I see, thank you

finally was able to catch a 62 gas fee to stake my ILV 😄

[floral island]

is there a minimum of ILV to stake?

[autumn cloak]

Nope. You just have to factor in gas fees

[floral island]

ok, gas is totally insane this week

[autumn cloak]

Yea. I’d wait til the weekend

[sand cloud]

Can you move from v1 to v2 if you're locked for a year? Or only after locking period is over?

[autumn cloak]

Only after locking is finished. At least that is what has been said. Have to wait until V2 is officially released

[cunning perch]

V2 is for Unlocked tokens. Not locked 🙂

[real nebula]

imagine having a functional chain to stake on

[arctic harbor]

So can somebody explain what "vested for 12 months" means? Does that apply If I chose to only stake my ILV/ETH for lets say 2 or 3 months? I thought If I decide I only want to stake for a specific time, I can withdraw my ETH & ILV after said time expires, right?

[mint cave]

the rewards you generate (if you choose ILV) are vested(locked) for 12 months starting at the moment you claim them*. your initial stake is locked for however long you choose.

[arctic harbor]

so you're saying the rewards, i.e., apy% is locked for 12 months, but I can withdraw my initial investment anytime i chose?

[mint cave]

yes

and to be clear, the apy% is not locked in when you stake, it is dynamic and depends upon the yield amount that fortnight and dilution of the pool

[arctic harbor]

hmm, I thought you could pull out your initial investment plus your gains same time, once you set the number of weeks you'd like to lock your stake.. seems like it's trying to encourage you to keep the initial investment in for a year. I mean, what point of staking for only couple months, removing your apy gains, then having to wait another 10 months to realize your gains.

[mint cave]

you can always choose to claim your rewards as sILV if you find the ILV rewards unsatisfying

which are distributed immediately

[arctic harbor]

i meant, "removing your initial gains, then having to wait 10 more months for your apy gains." *

[sonic lotus]

your vested ILV rewards are compounding so you'll be earning more.

[arctic harbor]

so sILV, which is the in game currency, is realized immediately, once you withdraw your stake?

[brisk surge]

If you claim it as rewards

[mint cave]

not really sure what you mean, you can choose to claim your rewards in either ILV or sILV. ILV is vested for 12 months. sILV is given to you immediately.

you are giving up your share of revenue distribution and future compounding interest if you claim sILV.

[brisk surge]

Withdrawing your initial stake and claiming rewards are separate things

[arctic harbor]

so in your opinion, there is more advantage to claim ILV and keep it in for a year? Is compounding gains that significant?

[mint cave]

"advantage" is subjective. more ILV means more yield, and more revenue distribution

personally i do not care that it is locked for a year

i'm not here to flip

[brisk surge]

I'm personally only claiming ILV as rewards, I will claim a little bit of sILV here and there once the game is live so I can play as much as I like

[arctic harbor]

will it be an easy interface that links your sILV from the staking site, to the game play ? So e.g., when im in game and want to purchase something, will it be easy to use the sILV from my staking pool? Just trying to imagine how that mechanic will work.

[brisk surge]

I think you'll claim sILV and it will be in your metamask wallet, and your mm wallet will be linked with the game so it should be smooth. But I could be wrong I'm not 100% sure

[arctic harbor]

yeah, that's sounds right.

[sonic lotus]

This is my plan too! Continue claiming ILV and when the game is live, claim enough sILV to play the game for free!

[arctic harbor]

and so if we stake for a year, lets say, with ETH/ILV pair, both my ETH & ILV is locked. I couldn't withdraw ETH any sooner than I could my ILV, right? And if I was concerned about keeping my ETH locked for a year, than I should chose the option to stake only ILV, correct?

[sonic lotus]

correct.

[arctic harbor]

also, if I only stake ILV, I think there is less risk of impermanent loss. Still trying to grasp what exactly that means. I have an idea: I think it's when one of the two pairs, significantly gains in value, while the other pair significantly loses value, so that when you try to withdraw, there's not enough of one vs the other, is that right? Can someone shed light on Impermanent loss and whether that is a real concern or not regarding ETH/ILV pair??

[mint cave]

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

[sonic lotus]

if you only stake ILV, there is NO risk of IL. not less.

[arctic harbor]

got it. So lower apy, but 100% safe, as opposed to higher apy's but with some risk.

[arctic harbor]

thx. checking out the video now.

[sonic lotus]

correct.

[inner sentinel]

I did the sushi ILV staking. Im checking my current reward and it says 3.75 ilv. Does this reward include the original 2 ilv I staked?

[mint cave]

no - rewards are what have been generated from your initial stake

[inner sentinel]

Thank you. My 2nd question is, I committed for an entire year. I plan on getting my tokens at the end. But you have to wait an additional year to get those tokens. Do those tokens get some kind of interest or something while you wait?

[real nebula]

yes

[inner sentinel]

thanks!

any idea how to find the % of those returns on the waiting period

[arctic harbor]

should be on the staking page.

[inner sentinel]

eh, its 500% now, I meant the 1 year wait after the 12 month versting period. U

[digital narwhal]

I locked my staking for one year yesterday... super excited! 🎉

[arctic harbor]

going to pull the trigger after work.. still reading up on it and watching videos.. I think I will probably do the staking only ILV, and not the pair, as less risky.

[fallow halo]

Just locked the pair for a year! Show me the gains!

[inner sentinel]

well its been 50 days. I only had 2 ilv to give up I have 3.75 in rewards. least thats what it says

[fallow halo]

From Sushi LP @inner sentinel ?

[inner sentinel]

yes. it was 700%ish when I began

@arctic harbor ty

[brisk surge]

Just keep an eye on gas, a lot of times you can get lower gas on the weekends so watch for tonight or throughout saturday you might be able to get a better deal on gas

[fallow halo]

Only can do like 0.3 SLP right now, but locked it for a year so I am looking forward to seeing what happens

[brisk surge]

hey does anyone know the cost of an SLP at the moment

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

jesus

[terse tangle]

Very true. Friday night/saturday morning use to be the best. However I haven't seen gas below 30Gweis for weeks...😓

[brisk surge]

Yea, if I get anything in the 50 range or below I'm really happy about it

[arctic harbor]

Oh cool, yeah forgot about gas. Will def confirm the gwei gas fees and if too high will wait for it to go down.

[terse tangle]

Me too. But still sad man, some months ago was another story!

[arctic harbor]

I'll be happy if it gets below 60. Can't wait for ETH 2.0; should address these high gas fees.

[terse tangle]

Yeah, these are the consequences of being early adopters. In a year from now, with eth2.0 and the game in Immutable X L2, we will laugh saying: do you remember when we were paying high gas fees? 😆

[inner sentinel]

if the % goes down 3% every ....fortnight.... when will it stop going down?

[digital narwhal]

I believe they said in 3 years from the start.

[brisk surge]

until we run out of coins I think

[fallow halo]

So eventually the APY will stop moving down, and revdis will be the primary benefit to being a stakeholder?