🥩〕staking

[autumn cloak]

Well eventually yield funds will end and APY will be irrelevant

[digital narwhal]

What about revdis?

[autumn cloak]

revdis doesn't have to do with APY

[digital narwhal]

Will it be evenly distributed?

[craggy field]

No i will get 2x as much revdis because i staked for a 52 weeks! :]

[autumn cloak]

It gets evenly divided among each token. So depending on how many tokens you have staked, depends how much you get

[digital narwhal]

You and me both

[digital narwhal]

More 🥩 More

I have never seen such a beatiful design of both game and DeFi

[arctic harbor]

yeah man, can't wait for this game. If it blows up as much as I think it will ILV will moon.

[mint cave]

https://gfycat.com/leftdefinitivedromaeosaur

[arctic harbor]

btw guys, not sure if this video had already been mentioned, but it answers a lot of the questions we had re:staking ILV
https://www.youtube.com/watch?v=7T2WzeXWC4k&t=31s

[cunning perch]

Yes. Vetemor is already an active member here. 🙂

[arctic harbor]

He does a great job explaining it.

[boreal cape]

I’m not sure about this. I believe RevDis depends only on the amount of ILV tokens that you have not considering the token weight. TW is only for yield rewards I believe.

[cunning perch]

RevDis takes Token Number + Token Weight into account (not pool weight)

[boreal cape]

Oh! So for example, I have gathered a total of 3 ILVs when the RevDis comes I will have a total of 6 ILVs worth of RevDis?

[cunning perch]

It might not be that simple, but the simplest explanation can be yeah. It takes the X token weight into account.

[boreal cape]

Ok. Got it. Wow this is a better system than I expected. I just hope that the game will actually be successful not just on the beginning but for a long time.

Thanks @cunning perch

[cunning perch]

did I blow your mind? haha 😄 I suggest watching @manic spindle 's vid regarding RevDis and the tokenomics: https://www.youtube.com/watch?v=aB69710B21c

[boreal cape]

Ooooooo….. the power of block chain gaming. Never thought this possible when I was younger! Whoo!

[fallow halo]

So once the APY becomes irrelevant the benefit to staking will just be revdis only

[autumn cloak]

Yep. It also lets you vote on some things

[cunning perch]

Enjoy. When we were younger it was a dream....Now....not so much. It's reality

[boreal cape]

Pretty much and also it’s a play to earn game and also selling illuvials that you caught or selling resources if you have land or selling sILVs. There’s a lot of ways to earn.

[cunning perch]

selling sILV is speculation as there might not be any sILV pool left in the future.

[fallow halo]

Will locking tokens then increase your revdis as it increses rewards currently?

[cunning perch]

As long as you are staked, you get RevDis based on the token number and their weight

[boreal cape]

O yeah, you’re right never thought that. Thanks. See I learned a couple of things in just 5 minutes here. 😁

[cunning perch]

no worries M8 🙂

[fallow halo]

When you say weight you don't mean the variable weight depending on locking right?

[cunning perch]

you lock for one year now, you get 2X token weight. This is taken into account when RevDis is happening.

[fallow halo]

Gotcha, thanks. This project is so cool. I'm all in

So with APY going down, will the risk of the Sushi LP staking even be worth it?

[cunning perch]

The APY will go down 3% every 2 weeks and with lots of ppl joining in. It's unlikely that it would crash (it would if the project fails badly) so there is a higher probability that it will stay huge for some time. But still you gotta make sure you do what's best for you before joining either pool.

[fallow halo]

Well yeah I am in the sushi LP pool, but I'm saying once APY is irrelevant and revdis takes over, will the risk of the sushi LP pool be worth it without the high APY?

[autumn cloak]

No it probably won't be worth it. In fact, they might just get rid of it once yield is over

[cunning perch]

If you mean after YF is done, then there wouldn't be any need for LP staking as tehre will be lots of freed tokens that would in itself be the liquidity.

[fallow halo]

Makes sense

[terse tangle]

Also once ILV is in all DEX they will have enough liquidity I guess

[fallow halo]

True. Does the company have more games planned in the future?

[cunning perch]

ILV will be more than 3 games + potential Movie(s) + Merchs + Partnerships all of which use the same tokenomics and there will never be any more ILV produced

[fallow halo]

Revdis revdis revdis revdis

[cunning perch]

https://tenor.com/view/jerry-maguire-show-me-the-money-tom-cruise-gif-10570851

[arctic harbor]

to answer the previous question about when Yields will end..

[arctic harbor]

just 10M ILV right?

[autumn cloak]

Yep

[cunning perch]

Now it's less that 10. as sILV is claimed, ILV is taken out of circulation

[gray ember]

Its possible to unstake from flash pools or need to wait until end block?

[cunning perch]

you can unstake whenever you want 🙂

[autumn cloak]

Oh yeah I forgot about that part

[cunning perch]

No worries. Have no fear 🙂

[gray ember]

ok on the front end there is no unstake option

[cunning perch]

check in the "vesting" section

[arctic harbor]

https://tenor.com/view/6m-rain-wallstreet-make-it-rain-gif-8203989

[gray ember]

oops tagged wrong person sorry.. ahh yes I see it now.. thank you! I dont plan to withdraw was just wondering where to do it on the front end

[cunning perch]

No worries bro. 🙂 Happy it worked out for you

[arctic harbor]

lol spending more time in the Staking channel since I arrived, than the general one. Just so much to learn about it and so many different strategies involved.

[gray ember]

Also the APY is in terms of a year or for the duration of the Stake?

[cunning perch]

Glad you are doing that. Feel free to ask whatever is on your mind 🙂

[cunning perch]

APY is Annual Percentage Yield, so it's a yearly one

[gray ember]

ok so its 4%? also its 4% of the current value of Link relative to ILV?

[arctic harbor]

watching another video from Vetemor, this one re: Pros & Cons of choosing staking reward sILV vs ILV
https://www.youtube.com/watch?v=hwg9CIrpTCc

[granite halo]

Gas really isn't going down...

[arctic harbor]

Doesn't seem like he addresses it in video, .. is sILV obtainable anywhere else besides staking rewards? Sushi swap? So if I'm in game and I don't have any sILV to make a purchase, is there a way to convert your iLV to siLV?

[cunning perch]

you can buy sILV on Uniswap, but be mindful that this pool is NOT authentic and has been made by random whales and that ILV team does not have anything to do with it. So you can trade at your own discretion 🙂

[arctic harbor]

Didn't know we could use other assets, e.g., ETH to make any future Land purchases, etc in game. I thought sILV was the only in game currency. This totally, imo, makes choosing ILV rewards (for the compound interest + revdist) more worth it, than sILV.

i.e., let me ILV ride gaining compound interest + revdist, and if I need to pay for anything in game, just use ETH.

[cunning perch]

sure. YOu can use ETH and tat ETH will go straight to the vault and then straight to RevDis. sILV however, gets burned

[arctic harbor]

yeah, the more I think about, the more I'm leaning towards choosing ILV as reward. ETH spent in game going to vault then back to revdist, seems like icing on the cake, for choosing ILV above sILV.

[cunning perch]

Sure. your ILV is the one making you passive income. So, if you want to enjoy the non-stop Passive income, the more ILV you have, the more income you will receive.

@arctic harbor watch this if you want to have your mind boggled a bit lol 😄 https://www.youtube.com/watch?v=aB69710B21c

[arctic harbor]

and I try to avoid the 'pay2play' part of it as much as possible anyway, as I'm in it for 'Play2Earn'... but would like to buy Land, as value will certainly go up for any land owners.

[arctic harbor]

Yeah man, I think ILV will definitely be worth more $2.4k price he predicts in the video. Certainly by next year. Those passive returns are so good. Better than any bank, that's for sure.

[inner sentinel]

is the closed beta NDA?

[boreal cape]

you can also use ETH in game

it's already addressed

[arctic harbor]

Yup, i found out. That's why I mentioned above, better, imo to stake and choose ILV vs sILV for the compound interest + revdist. Then if want to pay in game, can trade ETH

i.e., stake and choose iLV as the reward option*

[fallow halo]

Except sILV is much more cost effective since it is trading for much cheaper right now

[sand cloud]

🤫 we want everyone else claiming sILV ;)

[arctic harbor]

everyone else?

[sand cloud]

Yeah, every sILV claimed burns an ILV, effectively increasing the RevDis for every other ILV

[arctic harbor]

wait, so if I'm understanding you correctly, we don't want everyone who stakes to choose ILV as the reward, because if we have some peeps choosing sILV, it helps increase the RevDis for those of us who holding ILV as reward?

[autumn cloak]

It is a possibility, but Kieran said that they have not decided yet

[mighty kindle]

Hi guys, question, probably already answered, but I can't find it in the discord, on the Rewards page, it states, 'ILV rewards are subject to a 12 month vesting period. While they are vesting they compound your rewards.' so I know ILV rewards can be claimed any time, but then are subject to 12 mo. staking, so, are the rewards claimed considered 'realized gains' then automatically staked, my question pertains to taxation of the claimed rewards, not sure if they would be considered 'realized gains' or not, anyone can point me to a doc or site?

[autumn cloak]

Right. So every time someone claims an sILV a ILV is removed from circulation which decreases supply. So say, 1 million sILV are claimed, there will only be 9 million ILV left to circulate

[mint cave]

you will need to consult a tax professional or equivalent, no tax advice should be given here

[inner sentinel]

I thought it was okay until you claimed/ redeemed it. But yes, tax professional

[mighty kindle]

ya, i think i should, ive been staking for months now, and have seen my ILV really grow % and ILV price increase, so tempted to claim and restake for greater compounding, love ILV staking, such an awesome token, it is really the best imo

[arctic harbor]

so, by that logic, we want fewer of us to choose ILV rewards, and more to choose sILV, thereby increasing gains for ILV stakers... interesting

[mighty kindle]

sounds like when the game comes out or mini game, might make people choose sILV to spend in game, giving a great benefit for ILV stakers...?

[autumn cloak]

Yea. So in the short run, yes it will be less revdis since people are spending sILV, but in the long run it makes ILV rarer and inherently more valuable

[autumn cloak]

So there are advantages and disadvantages. Advantage is that if someone uses sILV, that means when that sILV was minted it took ILV out of circulation. Disadvantage is that we do not receive revdis for sILV being spent like we do for ILV

[mighty kindle]

OK, i didn't know that, been staking for months, joined Discord recently

[autumn cloak]

Cool. Yea this discord is FULL of info. I love the community here

[cunning perch]

https://tenor.com/view/kisses-i-love-you-ted-back-at-you-gif-15503883

[mighty kindle]

Im actually seeing that, love it!

[arctic harbor]

https://tenor.com/view/ron-ogden-so-many-options-options-choose-so-much-anxiety-gif-16148443

[silent cedar]

To simplify: If you turn cash into ILV or SLP and stake it, then yay!

[wide eagle]

and not smooth love potion hahaha, its Sushi LP(liquid pool)

[silent cedar]

Haha nice clarification 😅

If Shib breaks its ATH, I will be staking more ILV and SushiLP 🙏

[brave needle]

Why?

[brave needle]

If i stack at SLP, once the 1 year period has last. Can I get back my tokens in separate ways (0.5 eth and 0.5 ilv for example)?

[autumn cloak]

I think you have to withdraw it from Illuvium, and then you can break it back apart in sushi. Not positive tho since I haven't done it

[wide eagle]

You can suffer impermanent loss, I'm on mobile due to a city power failure but search for it on YouTube. Some see it as a negative other see it as a positive depends on your perspective 😉

[silent cedar]

Then I will have some money to spend!😋

[silent cedar]

https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.reddit.com/r/defi/comments/ifowsn/what_is_impermanent_loss_defi_explained_uniswap/&ved=2ahUKEwiY3-XW9bvzAhW7l3IEHV9EBAEQo7QBegQICBAB&usg=AOvVaw3x6_tmwPewIA4AY16tQNCk

[brave needle]

are you stacking slp or ilv?

[wide eagle]

Both pools

[brave needle]

Thanks im checking it right now

[silent cedar]

both

[brave needle]

Ill have just 2 ILV since price is a little hight right now. I must to choose just one

[wide eagle]

Standard 50%+ or something apy, and sushi lp is like 500% +

[brave needle]

stacking on sushi make you lost your initial ILV, right?

[wide eagle]

Sushi will give you mad returns if you accept the consept of impermanent loss

No you get a out put of eth 50:50 ilv regardless of price. total value ÷ 50:50

[silent cedar]

Check this too for staking ILV: https://www.google.com/url?sa=t&source=web&rct=j&url=https://m.youtube.com/watch%3Fv%3DC6YugU4zZr4&ved=2ahUKEwjjpa799rvzAhXzpnIEHanADHoQo7QBegQIBxAE&usg=AOvVaw2ADB6IrED7kKD7RGh5JxmZ

[agile fiber]

Does anyone claim their rewards more than once a week? I've been claiming once a week when gas fees account for 1% of rewards. Wondering if thats too conservative and if I'm missing out on too much compounding 🤔

[floral widget]

There is a pinned calculator, I think it depends on how much you stake

[agile fiber]

Yeah that massive spreadsheet give me a headache. If thats all there is to go off of, then I'll give it a try again

[fathom plinth]

So I should buy more ILV?

[sacred cosmos]

When in doubt buy moar ILV! (Nfa) lol

[fathom plinth]

Your profile picture just locked it in for me

[agile fiber]

Damn gas fees are low at 89 but claiming SLP rewards still costs ~$170 🤦‍♂️

when is V2 supposed to be implemented?

[white mesa]

are ivl rewards is auto-compunt?

[glacial stratus]

I already have raised this question but still its not clear to me... my stake will end on next month... can you clarify to me if i will not get it out in the stake, i will get same 2.0 weight? even if i just locked it only until next month? or should i need to re-stake and locked it again to get 2.0weight? thanks

[autumn cloak]

To get 2x weight, you would have had to have staked for a full year

Or did you stake for a year already? If so, you do not need to restake at all. As long as you do not withdraw your funds, they will stay staked at 2x

[glacial stratus]

i already stake it and locked for 13weeks, because it has 2.0weight unlike flexible... i just want to enlighten in the part when if its going to unlocked after 13weeks, and i will not withdraw it.. will i get same 2.0weight?

[glacial stratus]

thank you very much!

[autumn cloak]

So let me understand correctly... your initial stake was locked for 13 weeks in the regular ILV pool? If only 13 weeks you will not have 2x token weight

[sacred cosmos]

Looks like sometime in November

[glacial stratus]

yes! 13weeks! and i only get 0.25weight...

[autumn cloak]

Correct your stake will be weighted at 1.25x. If you want to have 2x, you have to lock for a year

[glacial stratus]

if i will just put it there after the locking period ends, what weight multiplier will be implemented? the flexible or the locked?

[dense relic]

until v2, at which point 2x weighting becomes 2 year, not 1

[autumn cloak]

So, if you do not touch your funds, they will stay weighted at 1.25.

[autumn cloak]

Yep

[glacial stratus]

thank you very much! if i want to locked it again, i will pay another gas fee?... one more thing, when will v2 staking will implement?

[autumn cloak]

Yes to another gas fee. And no known date yet for V2, but likely before the end of the year

[glacial stratus]

thank you very much @autumn cloak! 🙂

[autumn cloak]

Of course!

[agile fiber]

Thank you

[gilded wigeon]

for now what's the reasonable gwei to claim and stake? is 70 gwei good?

[autumn cloak]

I usually aim for 30-50 gwei, but lately 70 is actually not terrible. Ultimately depends on you and how much you are staking/claiming

[gilded wigeon]

i'm only staking 1.5 ilv on slp so not really that big ..i guess ill check and wait til tomorrow for atleast 50 gwei..and i have rewards in ilv pool so another transaction

[autumn cloak]

Yea. Hopefully we see some low gweis this weekend

[sacred cosmos]

@oblique forge can you walk me through the transactions you made?

[oblique forge]

My ilv was in vesting and i went to withdraw, transaction failed but was charged $75, it said out of gas

[sacred cosmos]

did you manually change the limit of gas or had enough eth to pay for gas? Gas recently is astronomically high

[arctic harbor]

https://tenor.com/view/lunch-carne-asada-beef-food-barbecue-gif-14714595
What's up stakers?

[dense relic]

Update the Chili is very good 😄

[arctic harbor]

Question: If you stake and select to lock it for 12 months, would you be able to add more ILV funds to it later? Or is it that once it's locked, you can't change the initial amount you put in? 🤔

[dense relic]

you can add more, but it's it's own thing. With it's own duration.

[arctic harbor]

I see, yeah I was referring to the same pool, so then sounds like it would create a new separate pool

!gas

[woven ibex]

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

[knotty river]

:fuelpump: Current gas prices

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

80 Gwei

Average :person_walking: | **3 minutes**

80 Gwei

Fast :zap: | **15 seconds**

81 Gwei

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

[arctic harbor]

I'll stake when it gets below 60 Gwei

[wooden torrent]

I'm waiting to buy ILV in Binance when the Gas is aceptable

[sacred cosmos]

must get the recipe one of these days hahaha

[wooden torrent]

In this page if i understand correctly i write to buy 1ILV

All i have to do is press Buy ILV?

[oblique forge]

I had enough eth to pay the gas for sure, I didn’t change anything

[arctic harbor]

Yes, you're saying you want to buy once the price hits 650.4 USDT.

[wooden torrent]

@arctic harbor That's the part i just understood, i have to select market correct?

[arctic harbor]

in the pic, you're setting a limit order and the price is where you want the limit order to execute. It will not execute your buy order until it reaches the price you set..
Market order will buy instantly for the current market price.

Keep in mind, trading fees are typically a bit less when you buy with limit orders, as opposed to a market order.

[sacred cosmos]

Did you claim your rewards first? Did your initial staked amount appear in your wallet?

[wooden torrent]

@arctic harbor Really? didn't know that.

[oblique forge]

No its still under your stakes in the illuvium dashboard

[arctic harbor]

Yeah, they call it "maker" fees (limit order) vs "taker" fees (market order), A market maker is rewarded, because you're setting the price in the market.

[wooden torrent]

@arctic harbor I think i get it, i don't need more funds in others coins correct? the gas fee will be taken from my USDT?

[arctic harbor]

You planning on buying some ILV so you can stake it?

[wooden torrent]

@arctic harbor I think 1 ILV is too little to stake....

[arctic harbor]

right gas fees will be taken in USDT at the cost of ETH for that transaction.

[sacred cosmos]

To be clear you want to claim your reward right? Or are you claiming both reward and the ended staked amount?

[oblique forge]

Just want the initial amount i staked back

[arctic harbor]

Yeah it depends on gas fee at staking. I saw a suggestion in one of Veretmor's video that said, it shouldn't be more than 10% of your ILV. So staking $1000 ILV? gas should not be more than $100, e.g.. If it's more, wait until gwei goes down.

[honest crescent]

It sounds like you tried to unstake a flexible stake and it the gas fee was charged, but your stake didn't release. Is that right?

[sacred cosmos]

Hmmm.. Im not sure why the transaction would fail considering you mentioned that you have enough gas. Maybe you can try claiming your rewards first then the staked amount

[oblique forge]

Yes

[honest crescent]

I wouldn't take the rewards out first. Cause if you sneeze, there might be new rewards that show up before you unstake the main.

[oblique forge]

Can you advise what I should do?

[sacred cosmos]

Hope someone can chime in who encountered the same issue. All I can think of is lack of funds for the gas fees.

[oblique forge]

I had enough for gas fees. 100% sure.

[honest crescent]

I'm not an expert. But I'm wondering if there is some way to initiate a support ticket with Illuvium. They should be able to check the transaction?

[jaunty ridge]

I think I had the same problem with sushi swap last night. I played with the setting and it took $20 in transaction but no amount .
But then could be not related and me been a kook

[autumn cloak]

I don’t think they would be able to do much about it unfortunately; all transactions are handled on the ethereum network.

[oblique forge]

Is this yuhang person a legit illuvium support person?

[autumn cloak]

Did they DM you? If so, no. The team will never DM you

[oblique forge]

Ya thats what I thought

[autumn cloak]

Is it the same yuhang in #🚨❗〕report-scammers?

[oblique forge]

Ya lol

[autumn cloak]

If you can, copy and paste the username in there. I think Jeff needed it to ban them

[sonic lotus]

Is it worth joining SLP with 3k? (1.5k in ILV and 1.5k in ETH)?

[brazen egret]

I joined SLP with 3.6k USD (17 ILV + 1 ETH) and after 3 months it generated 40 ILV

[sonic lotus]

Hahaha yea I don’t think 1.8k can buy 17ILV anymore hahaha

[brazen egret]

But if you were to join now. Keep in mind the SLP APY will continue to decrease as more people join. So your gains won't be as attractive as what i have been getting so far BUT if you believe in the team and the game then now is still a great time to join as you will earn ILV from the SLP pool as well as rewards earned from in-game

And then there's that impertenance loss to consider as well

[sonic lotus]

Yea I’m in this for the long term! I believe in what the team is doing and I think the Illuvium IP could be amazing!

As for IL, with only 3k in the SLP I’m not too fussed about IL.

[brazen egret]

Yea my mind set is, losing 3k is nowhere near as bad as not having a chance at 100k+

[sonic lotus]

Yea exactly! I have an alright amount in the ILV pool so the risk of losing the SLP to IL isn’t too heartbreaking.

[thin hound]

How do you stake IVL/ETH?

Where do you buy the coin?

[sacred cosmos]

You need to swap it in sushiswap for SLP once you have SLP you can stake in main site of illuvium. ILV and ETH is needed.

[gloomy gazelle]

!buy

[woven ibex]

We recommend buying ILV either on Sushi (Decentralized Exchange) or Binance (Centralized Exchange)
Sushi : https://app.sushi.com/swap?inputCurrency=ETH&outputCurrency=0x767fe9edc9e0df98e07454847909b5e959d7ca0e
Binance: https://www.binance.com/en/trade/ILV_USDT
Trading pairs available: ILV/BTC, ILV/BNB, ILV/BUSD and ILV/USDT

If you acquire your ILV on Sushi, make sure to add the ILV token to your wallet. You can find the contract address at https://www.coingecko.com/en/coins/illuvium and in the case of MetaMask, you can just click on the Fox next to the contract address to add the token.

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

[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

[urban field]

Minimum amount to stake for it to be worth the fees?

[gloomy gazelle]

It really depends on how much the fees are and how long you are staking for and how long you lock for.

Try using these to documents. Or find a staking video on YouTube by deraji or vetemor

https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit?usp=sharing

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

[urban field]

Say I spent £500 how much would I lose in fees

[gloomy gazelle]

It depends.

!gas

[woven ibex]

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

[knotty river]

:fuelpump: Current gas prices

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

94 Gwei

Average :person_walking: | **3 minutes**

94 Gwei

Fast :zap: | **15 seconds**

95 Gwei

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

[gloomy gazelle]

Probably $100-200 at gwei prices in the 90slike this. But gwei prices can get down to 30-40 regularly on the weekends. So that’s a bit cheaper.

[urban field]

£500 will cost me £100 to £200 in gas fees 😬

[gloomy gazelle]

Fees are not percentage based. They are transaction based. So if you spend more or less the fee stays the same (pretty much).

I don’t think $100usd is the same as 100pounds or whatever that is. But as I mentioned above of gas is cheaper you could end up paying 1/2 or 1/3 that amount.

When you do your transactions makes a big difference.

[urban field]

I would just hold the coin instead but with the circulation increasing so much in March probably not a good idea

[gloomy gazelle]

Well staking would experience the same things as holding would. It’s just also earning a percentage.

[gloomy gazelle]

It really depends on what the revenue distribution looks like.

https://youtu.be/64rf_ja61Xg

This video is a good place to start

https://youtube.com/playlist?list=PLuTQau_zXjlEV2niELD1mn0lfYlXOkoCr it’s part of a playlist I put together.

[nimble tendon]

That's why I put $10k in to make a Mil. 9 months to go 🦧

[brazen egret]

Yea i really hope i make a mill haha

Doubt it but there's a chance at least

[granite halo]

Lol. I think ILV is gonna go up, but it isn't gonna go 100x from here

[brazen egret]

@nimble tendon When did u start staking?

[nimble tendon]

Not from here. From my initial purchase price.

[granite halo]

Dammit. Another early adopter who is gonna make it.

[nimble tendon]

Under $90, paired with ETH. I sort of meant including the yield too, because locked for max rewards

[brazen egret]

I bought at $100 but it wont 100x from 100 i dont think

[nimble tendon]

Yeah but consider you'll have 6x your investment after 1 year.

[granite halo]

One day I will make it early enough on a project to make it..

[brazen egret]

Wait but i entered with 5k AUD and its now at 50

[nimble tendon]

Lol I'm not doing a good job at communicating today 😀 I meant 6x the number of tokens. From yield. So the token price doesn't need to 100x to make 100x on your investment.

[brazen egret]

Lol i understand you better now

[nimble tendon]

After 2 months it's already been 100% APR. Although that's on both ETH and ILV so it's not exact.

[brazen egret]

I earned 40 ILV after 3 months of staking so far so it's going pretty good so far

[nimble tendon]

APR x Token Inc = super gains.

[brazen egret]

Reward will obviously get lower when more people join the staking pool

[nimble tendon]

That's what I thought, it's only decreased slightly so far. Possibly some people only did short lock then left when unlocked?

Or with the price pump they want to single stake because of IL fears

[nimble tendon]

One thing in Crypto we learn is that things can go up more than you think. Buying Axie after release was late. But still was a great buy

[brazen egret]

I think i read from somewhere if we get to the same level as Axie we will hit around 2k

Obviously we're gonna be much better than them if things go to plan

[nimble tendon]

Yeah it depends if you look at current market cap, or fully diluted since we have alot more tokens to release

I'm not too familiar with Axie and how they RevDis or Stake. I only had a short term trade of them, sold too early. ILV looks so positive in terms of tokenomics.. To compete it all comes down to if the game can get the same network effect and hype that Axie got. Can people live off playing the game etc.

[brazen egret]

Nice! So you're at around 200k now?

Still good mate

[clear cape]

Yeah, just those few months where it did a 10x leaves me with 'what couldve been' hahahah

[brazen egret]

Nah never regret your decisions!

[clear cape]

congrats on ur play, that's gonna be some life changing investment

[brazen egret]

I have to be honest here.. my finance manager told me about it lol

[clear cape]

Lol thats fine, i know an aussie who got told about it by his neighbour

[brazen egret]

So i have to think about how i am going to repay him hahaha

[clear cape]

He's probably sitting on half a milly or a million or a few million, who knows

[brazen egret]

Lol he has 200k in NFT's so...

[clear cape]

Let's take this convo to DM, to prevent clogging the channel

[viscid glade]

27 ilv earned after not even 2 months, & i added a position a month later. I tell people about it & think its to risky. Like how?

[clear cape]

Probably because it sounds too good to be true

[sacred cosmos]

They need to DYOR to get confidence. Im doing the same to my friends and they see the gains already but still cautious of course. Cant blame them. I got confident in this project after DMOR as well.

[clear cape]

I dont tell my friends because they all think im stupid 😅

[viscid glade]

haha I feel you so much there.

[clear cape]

Dont tell them your stack though, or else it changes everything lol

[viscid glade]

lol I don't think they understand me anyway, like talking to a brick wall

[brisk surge]

Same over here, people don't understand me or are quick to be dismissive / imply I'm stupid etc. We're in good company in the discord at least

[viscid glade]

that's it, still people are sleeping. nice to have discord & communicate with people on a similar wave

[brisk surge]

I'm not very good at socializing or being outgoing in general, but I tried talking to a guy at the poker table recently. When I spoke it didn't seem like he was really listening but when he spoke he came off kind of condescending/patronizing (probably because I'm younger than him). He then told me to invest in Visa stock because "it's going to moon."

[viscid glade]

lol goodluck to him, will need it

yeah like that for me too at work, I told them about eth once. heard them talking crap about it a week later. kept my mouth shut since, same guy bets on horses all day & is down

[brave needle]

I need one of those

[carmine drum]

At least they dont call you scammer =]]

[brisk surge]

Damn that is frustrating lol, I can relate. Told a few friends/coworkers to consider investing in BTC in early 2020, basically texted out a fundamental explanation and investment thesis. Not one of my co workers or friends listened. "Ya but it could just as easily go to zero" etc. etc. And ever since then I don't talk to anyone about crypto IRL. Bottom line is that it's really refreshing to be in the discord community and be able to relate to you guys here. So cheers.

[brazen egret]

My finance manager at work btw not hired

[viscid glade]

i feel like I'm scamming Ilv with the yield on yield & how simple you guys made it for us lol

[viscid glade]

haha they look for the first negative. you got us bruv 🙂

[brave needle]

I learnt about ILV two weeks ago at 550 and I decided to wait a bit for a little dip. Today im doing the maths to enter at 650 with a minimun invest and stack at SLP

Its not the bet scenario but im even happy

[viscid glade]

nice work sir the hard part is getting in.

[sand cloud]

They're building a blockchain platform

[brave needle]

The cheapest way to entered is buying on the coins on binance, right?

[cunning perch]

To buy, yeah. But to stake you need to send it to your wallet and stake in ILV website if you're staking in ILV pool. This costs gas

[brazen egret]

And if you're staking in the sushi LP pool then you'll have to swap it on Sushiswap

[cunning perch]

No. You can always buy ETH and ILV on CEXs, send them both to your wallet, stake both in Sushi, get SLP and then stake in ILV website to avoid the buying Gas.

[brazen egret]

Ooo didn't know that

[brave needle]

Thats right what I was looking for, thanks!

[cunning perch]

Sushi just needs an equivalent amount of ETH and ILV in $. It doesn't matter where you get them from 🙂

[cunning perch]

No worries 🙂 happy to help

[brazen egret]

Oh yea i know that. Sorry im just horrible at explaining haha

[cunning perch]

Haha it's ok 😄 I got your meaning. Just clarified it

[versed coral]

Hi all, can anybody help me with the Sushi LP staking process? As far as I understood it, I need to have a 1:1 ratio of eth + ilv in order to get a Sushi LP which can then be staked. Where can I then see how many Sushi LP I will receive from that?

[cunning perch]

!lp you can follow these steps

[woven ibex]

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

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

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

[cunning perch]

And you can check the SLP value in Zerion. Just google it (ETH/ILV Zerion)

[versed coral]

Thank you. What I dont understand is do I need to have both ETH and ILV available or can I for example have 1 ETH and get 1,1 SLP for it without owning ILV?

[sacred cosmos]

Just to clarify its not a 1:1 ratio. Its based on the value. So 100$ worth of ILV youll need 100$ of ETH to put in.

[cunning perch]

No to have SLP you need to enter the equivalent amount like $10 ILV + $10 ETH at the same time.

[cunning perch]

Like this 👆

[versed coral]

Yes I am there, but currently I just have ETH on my wallet. Does that mean I need to have an equal value worth of ILV to build SLP or does it do it automatically by splitting my ETH value?

[cunning perch]

No you need both. You put ILV in the top bar and ETH in the low bar in exact equivalence in $ and then conform. You have to do the splitting yourself. Gotta have both tokens in your wallet

[craggy field]

You could also watch for an in depth SLP stake tutorial.
https://www.youtube.com/watch?v=C6YugU4zZr4
:P though you got all the explanations you needed already...

[versed coral]

So just as an example: In order to get around 1 SLP I would require 0.5 eth + 2.7 ILV on my wallet?

[cunning perch]

If they match in $, then yeah. You need both. You put them in their own tabs on Sushi, and confirm to receive SLP. Don't forget to add SLP token address to your wallet to see the token when you receive it

[versed coral]

Thank you very much. One last thing: Does the order make a difference? Which token is in the top bar and which in the second?

[cunning perch]

No worries. I don't think so. You have to choose the tabs, so I don't think ILV being on top would make a difference.

[old flower]

Does anyone know if there is staking calculator, or if there îs a minimum amount for staking?

[cunning perch]

Hey. There is no minimum as long as it justifies paying gas for (cuz for every reward claim you need to pay gas). There are some calculators in pinned messages that can help you too.

[sly kindle]

How do I claim my SLP? On Rewards I clicked "CLAIM ILV" for the SUSHI LP pool but it ended up claiming the ILV from my ILV pool and my SLP was never claimed.

[cunning perch]

To claim SLP rewards, you are first required to claim ILV pool rewards. Therefore, claiming SLP is always a 2-transaction one.

[sly kindle]

Ok, so now that I made the transaction to claim my ILV, if I do another claim transaction it should claim my SLP? or will it just claim the tiny ILV that has accumulated since my earlier transacation?

[cunning perch]

Did you claim now? Like now you're waiting for SLP claim? Cuz pressing claim on SLP rewards will again claim your ILV rewards first. Since rewards are distributed every 15 secs, so you will always have rewards in your ILV pool, and claiming SLP rewards will claim ILV pool again

[sonic lotus]

Rewards in SLP are still standard ILV tokens right?

[cunning perch]

Yep or sILV

[sly kindle]

I think I see what happened. I claimed not realizing I needed to claim again after that, so I ended up canceling the second transaction 😦 my bad. So now I needed to claim ILV again in order to do that second claim for my SLP. Stupid expensive gas! Well, now I know for all future reward claims.

[brazen egret]

Hey Azrael dont worry

[cunning perch]

No worries. It happens. Let the rewards pile up again and claim SLP next time cuz it will also claim the ILV pool. 🙂

[brazen egret]

I made the same mistake when i started. I reckon i wasted about $200 in gas fee mistakes for ILV

[sly kindle]

Ouch! Yeah, not cheap transactions.

[cunning perch]

The price to learn haha. I myself have 0.001 ILV reward cuz I didn't know new stakes claim rewards too lol. So I claimed rewards and staked and ended up paying two gas the second TX claimed 0.001 rewards I just got too

[brazen egret]

LOL

Yea i can imagine the amount of fees wasted collectively

[sly kindle]

An insane amount I'm sure, and will continue

[cunning perch]

Not for you, cuz u learned your lesson 🙂

[sly kindle]

Well, at least it's a long term situation and we can avoid making the same mistakes twice

[brazen egret]

Exactly at least you found out immediately after the mistake

[wintry fossil]

Yeah those fees are certainly a killer. A couple of times I've manually set the gwei price to be cheaper than the price at the time, then just left it overnight to go through (obviously don't set it too low otherwise it won't go through). I figure as long as there are no other crypto transactions I want to make it should be fine

[sly kindle]

I need to learn that better. I've tried messing with that but had a couple times where it would fail on me causing me to spend some gas for nothing. Now I usually just set it to slow and go with that.

[wintry fossil]

Oh yeah that's definitely the risk with manually setting the gwei. if it doesn't go through you have to pay gas fees to cancel lol.
I think I got lucky on my last transaction that the price did drop down to what I had set, as I think I kinda lowballed it a bit 😬
afaik that's the biggest risk with doing that though. someone please correct me if i'm wrong.

[cunning perch]

I always set gas to Fast and raise the limit 50,000 from the defult and it goes through in seconds.

[sly kindle]

Sure but it costs you more

[wintry fossil]

Also, you can use tools to view the gas price and gas price history so you can kinda estimate what gwei will be at certain times of the day

[cunning perch]

And I usually do my TX when it's sub 30. In two years I've been in crypto, I have never paid gas more than $30 even with all the mistakes I've made

[wintry fossil]

Yeah, I think that's kinda the standard safe practice right? I'm over here tryna be a penny pincher lol

[cunning perch]

I always pay a bit more to be fast and safe. Don't wanna sit behind my PC for 5 hours to see whether it goes through or not 🙂

[sly kindle]

Yeah, I still should not have claimed today. I've been wanting to claim like the last few nights and there's just been no good low gas price times.

[wintry fossil]

wait what??? how you getting gwei at 30 lol. I haven't seen gwei down that low in ages 🥲
And here I thought i did well getting 2 transactions at ~$44 when gwei was at like 70-80

[cunning perch]

40-50 is good these days. I like my profile to have round numbers and for that I need patience. Two weeks ago gas was in 20s. So transferring, swapping and claiming rewards all cost me $30

[sly kindle]

I've literally been up the last few nights keeping my eye on the gas, haven't seen it really getting below 50ish

[cunning perch]

It might go down tomorrow. The lowest have been weekends not weekdays

[sly kindle]

Now that I know I need to claim twice to get the SLP I think I will not bother claiming unless I see it in the 30s or lower

[wintry fossil]

Ah fair enough. I just panick bought sILV the other day as soon as Kieran announced the stream with ZyoniK lol
Figured slightly higher prices might be worth it if sILV skyrockets after the stream due to a leak or something

[cunning perch]

Yeah. Better wait for cheaper gas unless you have a lot of ETH and Rewards that you won't even care paying gas for

[golden summit]

Wen lambo

[cunning perch]

Yeah sILV might skyrocket and reach ILV in price. If it does, you can buy more land or higher Tiers even

[cunning perch]

That's off-topic and Lambo is overrated

[golden summit]

How do you get silv

[sly kindle]

I'm out for now. Thanks for the help and info, learning more all the time!

[wintry fossil]

That's the plan. Still hoping to have a lump sum of money fall into my lap so I can buy more sILV and ILV for land and staking respectively 💸 🤞

[cunning perch]

There is a pool on Uniswap and it's NOT authentic made by random ppl and therefore is NOT supported by ILV team. So if you wanna trade, you should trade at your own discretion

[floral widget]

I want to buy a SpaceX starship

[cunning perch]

Lol if praying got your somewhere, let me know. 😄

[golden summit]

Well that’s great. A pool made by fanatics can never go wrong

[cunning perch]

Gotta talk to Elon for that. 😄

[golden summit]

So the only other way to get sILV is to claim it from staking and wait a year? Do you need sILV to buy land?

[brisk surge]

If you claim sILV you get it instantly, it is not locked

[cunning perch]

You can claim it whenever you like. It's instant release and yea you can buy land with it

[brazen egret]

No SILV can be used in game immediately

[golden summit]

Shut your pie hole Noway

So I can claim sILV and sell it for instant returns?

[cunning perch]

Unofficially and 1/3 of ILV price (roughly a half)

[golden summit]

Well, for now… 😈 I know wen lambo

[brazen egret]

Dont buy lambossss

[brisk surge]

its just a meme to represent gains at this point lol

[golden summit]

Can you buy land with Eth? Also, how much of the game do you anticipate requires paying? Like what’s sILV for if the game is presumably free to play? Is there a pay to win aspect?

[cunning perch]

Yeah yo can buy land with ETH. There is no pay 2 win. There is pay 2 earn

!earn

[woven ibex]

In Illuvium there will be several options to P2E:

• sell captured Illuvials
• sell farmed materials
• sell crafted items
• play the marketplace (buy low, sell high)
• wager on battles in the Leviathan Arena
• earn some of the 1 Million ILV set aside for in-game rewards
• …

BUT, while the game will be free to play, in order to participate in the earning part of the economy, a bit of money needs to be invested. A full cycle of travelling, curing shards, etc. is currently estimated to be around $50 (this can still change).

[golden summit]

$50 in sILV?

[manic spindle]

Yes, you could pay those fees in sILV 🙂

[floral widget]

You can pay in eth as well

[wintry fossil]

I believe they said any in game purchase/cost can be made with sILV, but peer2peer is all Eth.

[golden summit]

Hmm. Something doesn’t make sense… if you could pay in Eth, what’s the point of sILV

[manic spindle]

!silv

[woven ibex]

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

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

[golden summit]

I see, so when the game is active sILV will be pegged to ILV so that they’re equal in value?

[cunning perch]

Yep. ILV:sILV

[golden summit]

So I can have lambo when game is released because then the pool made by randos will better approximate the real value of sILV

[floral widget]

It is pegged now as well.. if you have sILV in your account it will display the monetary value in iLV value in the illuvium dashboard

[golden summit]

Yeah but market doesn’t value it equally yet because there’s no utility yet

[cunning perch]

There is NO market on sILV. The current pool is unofficial and not authentic. Therefore the price of sILV is half of ILV

[wintry fossil]

From my understanding, there will never be an official way to buy sILV, it's only a staking reward. all the places where you can buy sILV are unofficial. so it's kinda like choosing to spend your staking rewards to play paid content in the game for 'free'

[golden summit]

Will there be an official one?

[slender ginkgo]

unnoficial market is still a market

[cunning perch]

No.

[cunning perch]

Yes but not coded in the existence of sILV. Therefore the real value of sILV is pegged go ILV only in the ILV platform where it has the only use and not outside

[golden summit]

Arash, please relay the concerns of n=1 peasants to your lord. The people do not want to wait 2 years for lambo

[sacred cosmos]

How does one compute the yield from SLP? Is it based only on the ILV portion thats staked?

[slender ginkgo]

exactly, the market value of sILV will be lower than ILV

[cunning perch]

We are official Mods and are just frank with you 🙂 you're the one pulling the trigger, so...we’re trying to tell you the facts and truths and you decide what's best for you

[floral widget]

Total emissions / number of SLP staked?

[craggy field]

Yield farming is the total value of SLP. So say 100% * APY/365 is your yield per day.
Revdis is only based on your staked ILV.

[golden summit]

Is revdis directly proportional to your ILV balance or do you get bonuses for being a good illuvial collector

[wintry fossil]

I imagine that after game launch, sILV price on unofficial markets will stabilize and follow ILV price (or at least that's the plan). that way stakers can choose to claim sILV and sell it to make passive income (at ILV price) if they're not interested in using it in game or claiming ILV to re-stake

[cunning perch]

Only your ILV receives RevDis and only the ILV part of slp

[sacred cosmos]

How does one compute yield of SLP to ILV then? By value divided by price of ILV?

[golden summit]

Wouldn’t it be complicated to account for the ILV part of SLP when it’s always in flux due to impermanent loss?

Well I guess just for us it would be since we don’t know the ratio of ILV:Eth at any given moment

[cunning perch]

RevDis has already been coded. So whatever data Sushi sends, the code will decypher how much ILV your SLP has in it and will take the SLP weight into account and pays the RevDis

[golden summit]

Few more questions… when’s this cute mini game coming out on iOS

[cunning perch]

You can ask about Zero in #🎮〕illuvium-zero 🙂 lets not go off-topic here

[craggy field]

Aha what you would do is quantify how much ILV is in your SLP.
Currently about 2.4 per SLP or something? So at 5SLP you would have 12ILV *2 in value = 24 *APY / 365.
You can also convert your SLP to dollars and go from there. So 1SLP= ~3000$ *APY/365 = dollars per day. Divide by ILV for ILV amount per day.
Should come out at roughly the same thing.

[slender ginkgo]

The yield does not depend on the ILV part of the SLP, it depends on the total value of the SLP

[robust meteor]

What’s the difference between staking core and flash pool?

I am already staking ILV and sushi LP but don’t know anything about flash

[sacred cosmos]

Ah, thats what I wanted to confirm so its based on the value of ILV x the token weight x APY = Total Yield / 365 = daily yield

[cunning perch]

Core pools are for ILV and Flash pool is for other tokens like LINK

[glad gale]

Hi guys

After staking for 52 weeks if I wanted to restake again , I need to@provide liquidity again ?

[robust meteor]

But I guess you can still claim your reward on sILV from flash?! Does it worth staking in flash? Right now you can stake LINK for 52,93% APY, but why would you stake LINK when you can stake ILV for 63% APY rn?

[cunning perch]

if you are locked for 52 weeks, you can leave it there after unlocking. You might be required to migrate to V2 though if you want more RevDis and YF rewards

[craggy field]

No I doubled the ILV value because half of your value is in Eth. Your Token weight already puts your APY to the maximum of 515.19% right now.
If you were to convert SLP gain to ILV you would right now do:
Starting SLP * APY / year for daily yield * ILV amount per token *2 because your token is double the ILV value.
So 5SLP * 5.1519 / 365 * 2.4 *2 = 0.33~ ILV per day.

[sacred cosmos]

So it is based on the whole SLP its just that we double the known ILV value to get the full total units of ILV

[cunning perch]

you can claim your rewards in FLashpool in both ILV/sILV. Being worth it is a question no one can answer, but the fact that the pool is live for 28 days, is better suited for whales tbh

[craggy field]

exactly! With other Token weights of 1.5 or something, you would use a different APY, corresponding to your token weight. But still the *2 because SLP is double the known ILV value.

[glad gale]

So don’t need to provide extra gas fee or@liquidity when changing to v2 ?

[cunning perch]

you will have to pay gas when migrating to V2 as V2 itself is a new Smart Contract

[robust meteor]

Can you even get enough reward after 28 days to cover fuel cost unless you are staking 20k? But why not staking ILV for 1 month and get better APY?

[sonic lotus]

i'm really hoping I can catch gas at 30 - 50 at some point today or tomorrow! I wanna stake some SLP for the first time

[cunning perch]

Well, many LINK holders are in it for a long time and might be holding a lot and are not willing to sell. In order to use their LINKs, they can stake and farm some ILV. For new enteries (to LINK), yeah, ILV sounds much better/profitable.

[robust meteor]

Yeah that’s true haven’t thought about that people holding LINK token could actually use them t stake it otherwise it would just sit in their wallet and do nothing, they might as well just stake it and get rewarded…

[cunning perch]

That's why LINK was approved by the council. 🙂

[rare oar]

Is it better to stake ILV or SUSHI LP?

[cunning perch]

there are calculators and videos pinned in channels to help you decide 🙂

[rare oar]

Thanks. Is it true you need to stake ILV to get better chance on Land sale?

[cunning perch]

No. you stake ILV you get ILV/sILV as rewards and you can use sILV instead of ETH to buy land. However, if you already have ETH, you can use it in land sale anyway. No need to stake ILV for that

[thorn oasis]

Hi i read about a v2 staking before but now i forgot how to navigate to find the document loool anyone care to educate this noob?

[cunning perch]

Hey, you can check the pinned messages in #809220563397902346 🙂

[thorn oasis]

Ty!

[glad gale]

Thanks arash

[brazen egret]

That's a good staking amount

[digital narwhal]

I want to add more

[brazen egret]

Lol huge whale

[sonic lotus]

I just staked for the first time in SLP! I'm not gonna lie, I'm excited hahaha

[brazen egret]

Nice work. Now sit back and relax and see it explode

[digital narwhal]

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

[brazen egret]

How many days did you lock it in for?

[digital narwhal]

The smart option to me was 52 weeks

[sonic lotus]

:D! I know it's not a lot, it's only .67 SLP but fuck it! better than nothing!

Locked it for the 52 weeks!

[brazen egret]

Too good!

[digital narwhal]

gg

[sonic lotus]

actually? or you being ironic?

[brazen egret]

Yea i also locked mine for 365 days lol

But that was almost 3 months ago so 9 months to go :D

[digital narwhal]

Just by holding ILV is gg, any amount gained in staking is gg.

[digital narwhal]

Damm, I wish I knew about illuvium then!

[sonic lotus]

hahaha yea! I got a fair amount in ILV staking but decided to get my feet wet in SLP

[brazen egret]

Ah ok gg in a good way

Dont waste your time thinking about what couldve, think about what it can be now that you're in

Also lol u staking 40 SLP.. you sure got a lotta cash hanging around

[digital narwhal]

650/ILV is cheap.

[brazen egret]

How much even is that

[royal parcel]

Around 120k?

[timid patio]

sesh

[brazen egret]

Christ. I pray it works out for you

[sonic lotus]

I'm sure he's already made enough in rewards hahahaha

[brazen egret]

It's never concrete until its in our pocket. That's why i'm always expecting $0

[digital narwhal]

I usually take bigger risks on projects I truly believe in, this is one of them.

[sonic lotus]

yea that's true! fair point!

[sonic lotus]

I mean shit, if i had that amount of liquid cash, I'd be putting it all here too!

[brazen egret]

Like the way its going with ILV and the bull market. I won't be surprised if it hits like 5k for a coin but when we redeem it (1 year) it'll probably be far from the high

[digital narwhal]

Jus think that we will be at 2k/ILV in 30 days from today.

That's just a bit over 1bi mcap.

[brazen egret]

Yea except no one can withdraw it

[digital narwhal]

That's the good news.

[brisk surge]

Did you just start the staking recently?

[brazen egret]

Unfortunately the timing might not work well for us as well cause bull run is likely going to end before July

[digital narwhal]

Yea, a few days ago.

[brisk surge]

Congrats!

[digital narwhal]

By the way, I do plan to withdraw some sILV to play, this should give a good start. Can't wait!

[brazen egret]

Yea it's gonna be good

[sacred cosmos]

Is this you? 😄

[hot lynx]

🐳

[urban field]

Isn't it a good idea only to stake up untill march before all the new coins get released

What time is gas feez the lowest, can't be paying 70 gwei

[cunning perch]

Many bet on token release to be a major dump, but the discard the fact that the unlocking will be linear and very slow AND the fact that The team has got ppl investing in the project who pursue RevDis and not gain through selling. So, anyone selling before March might be losing a lot of future gains.

[cunning perch]

It's usually the lowest on Sundays, but there's never a guarantee.

[sonic lotus]

Yea! I'm sure there will be some sell pressure for sure to maybe lock in some life changing games. But I'd be super surprised if the majority of tokens are sold and aren't held to earn RevDis.

[urban field]

I'm interested to know how much you all have staked?

[sonic lotus]

50 gwei right now!
gogogo

[cunning perch]

"majority" is not even the right word. The linear release is dump-resistant and the fact that the investors want RevDis means the likelihood of them selling is even lower. The Team has thought of everything before starting the project as always

[cunning perch]

we have ppl from less than one to tens of thousands ILV.

[sonic lotus]

Sorry, you're right! Majority definitely isn't the right word!

Yea the whole thing has been designed incredibly!

[urban field]

Shame you can't stake on Binance

[cunning perch]

Why would you wanna stake on a CEX? the APY is pretty small and they hold the keys to your wallet.

[urban field]

I can only realistically risk$1000 and with gas fees it doesn't seem worth it

Even though the I really believe in the project

[urban field]

Says 70 for me

[cunning perch]

Well, for $1k the decision is tough:

1. you can lock it for a looooong time so the YF rewards and RevDis will multiply it. (but for this you need to claim rewards and pay lots of gas through many TXs)
2. or you can use that money in game and try to make it more through earnings.

[brave needle]

You could claim rewards once a year right? or do you need claim rewads in order to obtain compound interest?

[urban field]

I also would like the answer to this

[cunning perch]

you have to claim occasionally to start the compounding effect or they will sit there and do nothing and you will never get them

[urban field]

I can't avoid gas fees by buying stuff like land from the interest?

[cunning perch]

Here I answered you in number 1 suggestion 🙂 #🥩〕staking message

[brave needle]

In the video pinned here says that 1k its ok for stacking ILV pool. For stacking ILV/ETH they recommend 1.8k minimun

[cunning perch]

Land requires gas too. I don't suppose with $1k you can do much buying tbh except in-game fees. That's my number 2 Suggestion in the link I sent you above

[brave needle]

For a 2k investement you would recommend ILV/ETH stacking or is too risky becouse of gass?

[cunning perch]

Depending on the amount of ETH you have for gas, it varies imo, but If I were to start investing in LP, I wouldn't have done with anything lower than 3-5k. Remember that this is my personal opinion and not a Financial Advice 🙂

[brave needle]

Thanks! I hope Gass get lower soon

[glacial scroll]

heys guys silv rewards from staking can be used instantly no matter what staking period or pool right?

[cunning perch]

yep. claiming sILV is immediate 🙂 and goes to your wallet to be used in-game/land sale

[glacial scroll]

perfect mate, yes ingame purchases is whaqt im after

[sonic lotus]

as a reference and NFA. I just staked 3k into SLP. I personally wouldn't have done anything lower than that

[glacial scroll]

hey if you stake ilv and get silv rewards are you still eligable for vault distributions?

[sonic lotus]

no. Only staked ILV is eligible for RevDis

[urban field]

How come they suggest different amounts?

[cunning perch]

The amount should be $ based not token based.

[glacial scroll]

oh right so if i want revdis then i need to stake ILV and accept ILV rewards?

[cunning perch]

you can stake and accept either ILV or sILV rewards. that part is up to you

[sonic lotus]

correct. sILV can only be sold or used in game

[cunning perch]

sold for now. Might not be sellable later

[sonic lotus]

yea!

[urban field]

So let me get this right

Ilv is a reward token
And
Silv is for in game purchases

So if your betting on the game being successful Ilv is better?

[sacred cosmos]

ILV is a governance token.

[sonic lotus]

ILV is a governance token that's eligible for RevDis
sILV is for in game purchases.

Long term belief is definitely the ILV way.

[cunning perch]

!ILV ILV is the governance token (sellable and purchasable and can be compounded if claimed under certain conditions) while sILV is just an in-game currency and hold the same value to ILV in-game and in Land sale. I suggest reading this: 👇

[woven ibex]

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

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

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

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

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

[cunning perch]

!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.

[urban field]

How do they distribute the revenue?

[cunning perch]

!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.

[glacial scroll]

how does the vault know how much IVL to give to individuals?

[urban field]

Oh so it's got to be staked to be rewarded with revenue

[cunning perch]

based on their number of staked tokens and their weight

[cunning perch]

most def

[glacial scroll]

ah yep got you, so as long as you staking some IVL you should recieve some share

[cunning perch]

yeah. staked ILV gives you more ILV throughout RevDis and (if you choose it) through YF rewards.

[glacial scroll]

ah ok cheers, will give it soime thought

[fallow halo]

Once RevDis starts, will it have its own section on the staking dashboard? Or will it be included elsewhere?

[cunning perch]

It will be distributed after V2 implementation and will probably have it's own different section as it's unlocked and can be withdrawn. Also there might be a possibility to stake it directly should you wish so.

[fallow halo]

Love it

[sonic lotus]

It's been said that there will be a separate RevDis section on the dashboard but that's still in development

[brave needle]

What is unvesting schedule?

[cunning perch]

I think he meant when the token is unlocked 😄

[brave needle]

ILV - 700us !

[rocky fox]

my reward claim on ILV/ETH at 41 gwei still stands 😄 hopefully it hits this night 😄 otherwise might have to bet higher :/

[high valve]

Hi guys is their a way to get my ILV rewards without staking them all back ? id like to seel half for Eth to be able to stack in SLP pool, or can someone advice a way to manage?

[cunning perch]

ILV rewards will all be locked for one year after claiming. No way around that. Unless you unofficially and for half price sell sILV for ETH in the open market, but be advised the pool is not authentic and you should only trade at your own discretion

[high valve]

oh ok i understand thanks a lot, so i'll keep them will this rule stand when game will be out ?

[cunning perch]

yep. ILV earned in YF will always be locked after claim 🙂

[high valve]

so if i claim them but dont wanna stack them in pool i cant ? it will by default go in ? so id rather not claim and get sliv for in game currency when its out or buy land?

[cunning perch]

when you claim ILV it will be staked for one year (in better terms, it will compound to your original stake with a weight of 2X)

[boreal cape]

Hi guys I’m new in the crypto world so please correct me if I’m wrong. So there will come a time when RevDis will stop. I was thinking about if all the ILVs available out there was owned by someone (staked or not staked). There will be no ILVs to buy, right?

[cunning perch]

Wrong. As long as there is ILV games/movies/merchs RevDIs will continue. YF will end in 3 years. 🙂

[boreal cape]

Yup but the supply is limited right? Will the future projects add more ILVs?

[cunning perch]

No. No ILV will be added. All platforms will be using the same ILV supply, but it will never run out, it might be worth thousands of $ though.

[boreal cape]

Ok nice. Thanks.

[cunning perch]

happy to help 🙂

[sacred cosmos]

Say the IP expands to new games and go past 3 years, staking would solely be for revdis right?

[clear cape]

Yeah

[cunning perch]

yeah and voting ofc

[sacred cosmos]

Hope they expand on the 2nd part so that there's more involvement from the ILV holders when the time comes. Thanks for the confirmation!

[cunning perch]

No worries. After 3 years sILV will probably be unclaimable and slowly will fade away and everyone will be required to spend ETH. At that time we might have millions of players...imagine the RevDis then lol (food for thought)

[sacred cosmos]

I have no doubt! ILV 🚀

[sonic lotus]

Quick question. Any ILV staked in SLP is still eligible for RevDis right?

[mint cave]

oh hellllllll no, revdis optionally claimable as sILV

i need it

[cunning perch]

HAHA I know you'll be voting for it 😄

[mint cave]

imagine smaller(or any) stakers being able to claim their revdis in sILV and it goes straight into their game balance

[cunning perch]

the ILV part of it yeah 🙂

[mint cave]

one click

ez

[sonic lotus]

dope!

and yea it would be cool to be able to claim RevDis as sILV for those who want it

[cunning perch]

that's why you're the council and we're DAO. 😄 you can steer the world however you see fit haha 😄

[mint cave]

i think that option would be pretty popular!

[cunning perch]

oh I would vote FOR it for sure 🙂 for now it's not confirmed though.

@mint cave it beggs your mercy haha 😄

[clear plinth]

Is RevDis the same for ppl providing liquidity in SLP pool as well as by staking ilv?

[mint cave]

oh absolutely, for now just an idea, but definitely one that will be formally discussed/proposed/etc in the future

[mint cave]

yes, however for the SLP stakers the revdis is distributed over the amount of ILV tokens in your SLP

you can see how many ILV are in 1 SLP here:

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

[cunning perch]

that would be pretty dope. Play, burn sILV, take ILV out of circulation, keep pumping ILV, stake that RevDis....damn.....No more ILV in the market haha

[craggy field]

Revdis is provided to ILV holders based on their amount of tokens. SLP is 50/50 ILV or Eth and once more ILV is bought by others your share of ILV will go down.

[mint cave]

and when we're down to the last ILV token...good thing we have 18 decimals

[cunning perch]

decimals haha.....the dust would be priceless

[sacred sable]

Question that I'm sure has been answered a thousand times.. When you claim sILV, do you just pay one eth fee? Or do you still have to pay two fees like when you claim as ILV..?

[mint cave]

it's the exact same claiming process as ILV

[sacred sable]

Thank you

[boreal cape]

I think it will be really helpful if there will be a YouTube tutorial of claiming rewards but most people who do YouTube tutorials still has their tokens locked. So we’ll see…

[mint cave]

won't do us much good, as the claiming rewards process will change a bit with staking v2 - i.e., it will be much more user friendly + the ability to batch claim your rewards instead of individual claims

*with regards to your claimed rewards unlocking, i meant

[boreal cape]

OH! That would be good. Can’t wait for that. Ugh…. The anticipation on this project is too much 😆 hope Illuvium will do well.

[clear plinth]

Thanks for answer, what about ilv rewards from SLP pool that are not yet claimed?Do they count for RevDis while not being claimed yet?

[livid light]

Rewards are not eligible for RevDis till they become claimed from what I remember

[autumn plume]

is there any way to get out of the 12 month lock up period?

[mint cave]

this is correct

[mint cave]

no

[next ruin]

If you mean that you locked your initial stake, no. If you mean rewards, sILV is unlocked when claimed.

[molten thistle]

Indeed, Those who are more player inclined than investor inclined would love something like this, would give them a way to perpetually play without having to spend out of pocket, and the money that the Vault misses out on would be made up for by the ILV tokens gaining value.

[glad gale]

Hi guys

I provide liquidity for ilv staking amount stake 0.84 SLP why my reward is so little it doesn’t make sense

Should be 0.0056

But it given only 0.00056

Anyone assist ? My friend stake the same amount with me is getting 0.0056

[mint cave]

0.0056 what? per hour?

not sure what the question is

[glad gale]

0.0056 ILV

per few minutes

[mint cave]

okay?

if you staked 0.84 SLP and locked it for 1 year, you should be getting about 0.056 ILV each day

your rewards accrue every ETH block, which is about every 15 seconds

[glad gale]

Ya I understand but I stake the same amount with him , but he is getting 10
Times more then me

0.84 SLP is 2700+ usdt , why am I getting lesser then my friend for 10
Times

Instead of 6.6 usdt now but im@getting 0.66 usdt now ==

My pool is right everything is right just the reward doesn’t tally with it

I think the management have to check on my account for this

[mint cave]

there isn't really a way for this to actually happen

if you want, you can DM me both of your wallet addresses and i can figure it out for you

most likely he staked before you did

[glad gale]

My meta mask wallet ?

[mint cave]

yes the ETH address of you and your friend as described

[glad gale]

He stake the just few hours before me

[mint cave]

right - so he should have more rewards than you

you get the rewards as soon as you stake, every 15 seconds they add up

so if he staked hours before you, he should have more than you do

[glad gale]

0.00056 every 15 sec ? Or 0.0056 every 15 sec ?

[brisk surge]

Just wait 24 hours from the time you staked and see what you get, compare that to 24 hours from when your friend started staking

[glad gale]

Ok

If there’s a huge different would u guys look into it ?

[mint cave]

of course

[glad gale]

Ok

Thanks for for reverting . Will see how much I get Tmr . And how much my friend getting comparing to me

Guys. My bad , system is right . 0.00056 every 15 sec

All good now, false alarm

[sacred cosmos]

How'd you get to compute your rewards per tick? Now I'm interested to know mine

[glad gale]

Meaning ?

[clear cape]

He's asking how did you work out how many rewards you get every 15 seconds

[autumn cloak]

Yea I’d like to know this as well.

[glad gale]

My friend show me his staking after he done few second@ago and getting 0.00056

He stake the 2 ILV , same as mine so both of our reward is tally haha. I don’t think there a calculator or system to verified this . All based on realizing yourself , if u guys wanna find out try sitting Infront of your com for 15 sec .

So do your own maths

[wild dagger]

what would be a good strategy to claim your ilv

like should I only claim it once I can afford the gas fee? or wait for something idk

[cunning perch]

you can use the calculators in the pinned messages to help you, but there are two basic rules you can follow:

1. claim when gas is cheap and you are comfortable
2. claim when gas = 1% of your pending rewards

[wild dagger]

ok ok thank you

cause once I claim, I cant get anymore rewards off of my stake right?

[cunning perch]

!claim I suggest reading this fully:

[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.

[clear cloak]

Does revenue distribution go to people staking in the SLP stake pool or just the straight ILV pool?

[autumn cloak]

Both; but for SLP, only the ILV portion of your stake receives revdis; not the ETH

[wide eagle]

@autumn cloak do you ever sleep? hehe

[autumn cloak]

It's only 6:30 here lol

[wide eagle]

pm

[arctic harbor]

finally was able to catch gas under 60 gwei, and pulled the trigger; staked 2 ILV for 52 wks.

[cunning perch]

https://tenor.com/view/laugh-raccoon-hyper-excited-eager-gif-17716253

[arctic harbor]

so I'm looking at the 'Rewards' tab and both ILV & sILV are locked...
If I understand this right, I cannot claim any ILV until 52 wks from now, as vesting starts now until 1yr; however, sILV will be available to claim, therefore unlocked, when the game goes live, right?

[cunning perch]

When enough rewards pile up, both buttons will be on. You can choose either roof them for each claim. ILV will be locked for year while sILV will be released to your wallet

[arctic harbor]

ok, so I cannot claim ILV for one yr from now right?

[cunning perch]

You can claim it the moment the button is on. You can withdraw it a year later AFTER the claim

[brave needle]

Nice gass!

[arctic harbor]

I see. I'm confusing "claim" with "withdraw".. So I can claim it, as when enough is accrued, it will be unlocked to claim, but still locked for vesting for the 52 wks..
as far as sILV, I can withdraw anytime, after I claim it, correct?

[arctic harbor]

yeah man, anything under 60 gwei, these days, I'll take it.

[cunning perch]

Yeah. Quite right. Remember, to start vesting, you need to claim. So if you want ILV, gotta claim occasionally when you have enough rewards that justify paying gas for

[arctic harbor]

Cool. Ok i think I understand the rewards part. quick final question on the apy%, so since I locked it for 52 wks, looks like I will get up to 62.96% apy. How does apy get applied, if ILV increases in value; e.g., currently it's worth $668, but what if by end of next year, it 3x's and goes to $2000? Does the apy get applied to it's current value throughout the year, or only to it's initial investment value... hope I explained that correctly.

[fresh grail]

Crazy how 2 months ago, claiming when the gas was 30gwei was deemed high

[arctic harbor]

really hoping ETH 2.0 will solve the gas problem.

[cunning perch]

You're in the ILV pool so price action doesn't affect it. It only drops as ppl join in and rewards gets claimed and added there. It will keep on dropping unless people start exiting once their tokens get unlocked

[agile fiber]

How can you find the exact USD amount that you put into the SLP pool?
From transferring it from my bank to Coinbase to meta mask to swapping it to staking it, Im having a hard time tracking all the fees and price drops/increases along the way. Any suggestions?

[arctic harbor]

"it only drops as people join in" <-- what is "it" when you say, "it" only drops?

[cunning perch]

APY. Should have mentioned that. Using a pronoun lol

[clear cape]

So if your stake is worth 1k now and it does a 2x, and the apy pool is 62%, you will get 62% on the current value not the original investment

[arctic harbor]

use this converter bro
https://coinmarketcap.com/converter/

[fresh grail]

The more people in the pool the more the rewards (APY) decreases per ilv you have staked.

[agile fiber]

I don't see SLP as an option on there

[arctic harbor]

and that's 62% in rewards right?

[clear cape]

yeah

[arctic harbor]

try spelling out Sushi, but it may not be listed there.

[fresh grail]

https://app.zerion.io/invest/asset/SLP-0x6a091a3406e0073c3cd6340122143009adac0eda this is a chart tracking the SLP price

[agile fiber]

yeah not on there

[arctic harbor]

nice. So stoked about making passive income while supporting the community. 🙂

[arctic harbor]

ask one of the MOds, what the value of it is, maybe they know. It might be pegged to sILV, but im just guessing.

[molten thistle]

The %APY is based on the amount of tokens you have staked, not its $ value

[arctic harbor]

oh ok, so seems there is some confusion. I think Arash said same thing.

it's still better than any bank

[molten thistle]

if your APY is 62%, divided by 12 is 5.1, so you would get 5.1% of the amount of ILV tokens you have staked. No matter if they are worth 500 ot 2000, still 5.1% per month

If you claim when you get more ILV rewards, they will increase that.. so i fyou claimed 2 ILV and staked them, now your reward would 5.1% (per month) of the 4 tokens instead of just the two

[arctic harbor]

still earning over half of my investment by eoy. better than any bank.

[fresh grail]

A long term deposit account here in aus is about .35% hahaha

[arctic harbor]

well, once they are available to claim, I can't withdraw until the 12 month vesting period is over, so not sure if I understand your meaning.

[molten thistle]

Claiming them starts your 12 month vesting before you can withdraw, yes. However, they are counted as staked at whatever weight your main staking is, so they compound.

If you claimed 1 every month, by month 11 you would be getting 5.1% per month of 11 tokens as your reward

[brazen egret]

Damn i just missed out on 40 gwei for gas fees

[molten thistle]

After 12 months, the first one you claimed would become available to withdraw and sell for $

[frank abyss]

Just staked my first Cryptocoin and it was $ILV of course! Just trying one week first to test it, but super stoked about this community and how easy staking was for the first time!

[arctic harbor]

Man, I wish we got .35%. Here in the U.S. the average is less than .06%

[brazen egret]

Mate. 40 ILV earned in 3 months. You will not regret it

[fresh grail]

if you're not in a hurry or needing MM for anything else. Just limit your gas fee to 40 and it should pass through.

[brazen egret]

And the game isn't even out yet!

[molten thistle]

1 iLV at 62% APY would net you a little over 1% per week, just in yield rewards

[frank abyss]

Stoked.

[arctic harbor]

So that's how compounding works? Wow, now that's what I'm talking about... so if I understand you correctly, what you're saying is, after each time I claim ILV, that amount gets added to my intial investment, towards where the apy% gets applied, so that over time, it compounds and grows, is that right?

[fresh grail]

Jeez, you could just stable coin in and earn 8% apy, but I would rather buy ilv

[molten thistle]

Yes.

[arctic harbor]

Yup, it sucks, that's why I'm trying to go bankless anywhere I can.

[clear cape]

Are you in SLP?

[boreal cape]

Remember there is gas fee in claiming. So make sure it’s worth claiming.

[molten thistle]

With 2 SLP staked, you get just over 1 ILV a week right now. SLP is better to stake if you are looking for ILV rewards for your yield farming.
Your staked ILV is less for yield reward and more for revenue distribution.. you get paid from the game's income based on your ILV staked, when the game is live and earning revenue

[arctic harbor]

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

[brazen egret]

Hey mannn. Yep

[arctic harbor]

I just staked the ILV, not doing the ETH/ILV pair.. this is my first staking experience, so not comfortable w/ possible impermanent loss potential with the pairs..

[molten thistle]

Impermanent loss really is only the diff between what they coinds would have been worth if they were separately valued.. Once you break them apart I think that becomes irrelevant

[arctic harbor]

I can always claim at anytime when gas fees are low, right, just leave it in until it's better?

[brazen egret]

My gas limit is currently preset to 404416 with a max priority fee of 1.5 gwei

[molten thistle]

Yes, expect about a hundred bucks to claim, so dont claim unless your rewards are worth a lot more than that.

[arctic harbor]

yeah, I'll have to do more research on it, too late now. I'm locked with ILV.

[clear cape]

The tax in australia is horrible vs Other countries, you have it good

[molten thistle]

Nothing wrong with that.. when the game takes in 80 million on land sales, you get paid for that ILV you have staked.. its good stuff 🙂

[clear cape]

Aus tax rate is 100% lol, UK is only 10-20%, Canada 50% and some countries 0%

[frozen oyster]

how long did the staking take with those settings? i wanna try limiting my gas on MM too but i'm too scared i might break something

[gloomy gazelle]

Welcome aboard

[boreal cape]

Yes but of course you don’t want to claim a 100 usd worth of ILV if the gas is like 80usd. Well you can but not worth it. Also I believe that your rewards is also compounding even if you dont claim it.

[gilded wigeon]

GM... question, i just staked SLP now and it didn't prompt to claim my rewards in ILV?? it's successful and im staked but my ILV rewards are not claimed and restaked?? is staking V2 implemented?

[brazen egret]

Those are almost instant (30 secs). That's why im asking how low i should go because i dont mind waiting longer

[molten thistle]

It takes a while for those rewards to build up

[arctic harbor]

but vesting doesn't start until it's claimed right? I thought vesting starts the moment I locked my ILV for staking, but from what it sounds like, is vesting starts the 12 month clock once any ILV is claimed.

[molten thistle]

Yes, your vesting of your stake started the moment you staked it. Your claimed rewards are vested the moment you claim them because they auto stake. It should show up in your Vesting tab how long remains on each transaction.

[brisk surge]

Vesting on your principle starts when you stake. Vesting on your rewards starts for each batch when you claim it.

[arctic harbor]

I might create another pool in a month or so with the ETH/ ILV pair, to get the higher apy% once I feel comfortable, also once ETH moons next month, plan to take profits...

[gilded wigeon]

No, i mean everytime i stake i need to claim those rewards first right?

[molten thistle]

When you stake, it automatically claims any currently available rewards in that process

[boreal cape]

This is how I understand it. You stake for 12 months. You get yield rewards. And when you claim or unlock after 12 months you’re rewards starts a 12 month vesting.

[gilded wigeon]

Yah that's my question actually, staking is successful but rewards still there it not claimed

[arctic harbor]

got it. So i should expect I would not be able to withdraw my claimed rewards until sometime after i can withdraw my initial 52 wk ILV investment, right? Because of the vesting requirement...

[molten thistle]

Yes, I claim once a week, so in a year I can start withdrawing once a week as a paycheck hehe.

[autumn cloak]

Noticed your question in general, for sure V2 has not been implemented yet, not sure why your rewards were not claimed tho

[arctic harbor]

nice. that's a good strategy. as long as gas fee is considered i guess.

[boreal cape]

Wow. You definitely staked a large amount! Congrats!🎉

[arctic harbor]

lol I notice your space helmet there. I won't mention it here, as it's not the place, but that's the only other game I'm super excited about besides Illuvium. 🙂

[molten thistle]

Yeah everyones situation is different. I staked 2 SLP so im getting little over 1 ILV a week. I planned it that way for the above.. HOWEVER i Might not pull it out every week, because if you leave it staked after your 52 weeks is up, it still counts at its weight of 2 and I can pull it out later if i need it.

[brazen egret]

Haha my exact thinking

[molten thistle]

I mean, if ILV tokens are worth 2 or 3 k I might only pull one out every 2 or 3 weeks lol

[arctic harbor]

2SLP is basically 2ILV / 2ETH right? or the equivalent price ratio between them i guess.

[agile fiber]

I claim when gas fees are 1% of what my rewards are. I have a hard time finding both fees being cheaper than $150 for SLP pool. Hopefully V2 lowers that.

[brazen egret]

Is the deck of cards guy here? He staked 120k a few days ago

[agile fiber]

No. Google Zapper DeFi and link your wallet, it shows you what each is worth for your stake

[molten thistle]

ILV were 500 and eth was 3k at the time i got in, so it was 3 ILV and 0.5 eth for 1 SLP I think

[brazen egret]

So keep all settings the same except for max gwei fee to 40 right?

[agile fiber]

Yeah and that also fluctuates as both ILV/ETH changes price constantly

[molten thistle]

Yeah i tend to get between 60 and a hundred, I should probably wait longer to claim, but for a 700 token, its not too bad really. 10% ish

[fresh grail]

Don't change your limit, just the gas 🙂

[autumn cloak]

Does that actually work? I am always hesitant to go below what MM recommends

[agile fiber]

So higher the token price, higher the gas fee?

[clear cape]

You’re claiming weekly for 1 ILV a week..?

[molten thistle]

No the gas fee is based on GWEI and per transaction, the value of the token doesnt change that. I just am willing to pay about 10% to claim so dont mind paying 70 bucks for a 700 token.. personal choice really.

[arctic harbor]

That's great. Unfortunately, I'm not in a position at the moment to stake that much.. hopefully, as I mentioned, by eoy, I can create a new pool with the ETH/ ILV pair to create a sLP pool.

[fresh grail]

https://txstreet.com/ this gives a good visual on the network, but yes it does. I do it all the time when I see gwei dip to a level I am willing to pay.

[agile fiber]

Oh gotcha. Are you talking about gas fee for ILV pool or SLP pool? Cause SLP has double fees and I can't ever get that undere $150, $70 would be amazing.

[molten thistle]

Yeah everyone has their own preference on how much they invest, I only use those numbers because I actually used them so I know their reality, and I don't want to put info out that I'm only guessing about 🙂

[agile fiber]

Nvm I see it at $99 right now! brb gotta claim 🤣

[arctic harbor]

is this it?

[molten thistle]

Now that I have claimed a few, I will probably spread my interval out a bit. I wasn't really thinking about the increased value of the tokens by the time i start withdrawing them. Now that I think they might be 3 to 5k by then, I won't need one every week.

[sharp rover]

the ETH/ILV APY will offset any IL. I'm technically down 15% or so on my IL from staking in July but my ETH/ILV already has given 130% more ILV than I put in where as just the ILV pool would be at like 20%

[autumn cloak]

Yep. Zapper is pretty helpful and is a nice visualization of your portfolio

[arctic harbor]

wow, i never heard of Zapper. Thx for the tip. It even sees your staked assets

[autumn cloak]

Yep. I hadn't heard of it either until a week ago

[agile fiber]

Yes

[agile fiber]

Yeah that and also whenever RevDis starts, I want all the ILV staked that I can 💰

[agile fiber]

No worries, just passing it on. I found it by accident a few days ago, has been a game changer with helping me plan/estimate things.

Do the mods have an @ to ping them? I think Zapper DeFi is something worthy of a pin

[arctic harbor]

definitely. Also looks like you can swap & even join other staking pools straight from Zapper?

[agile fiber]

Yeah but with a higher fee usually. Id look into that before doing it.

[arctic harbor]

yeah, nice feature, but I think i'd feel safer staking directly.

I'm wondering if this is the accrued ILV as I don't remember yield farming anywhere.. ? 🤔

[autumn cloak]

If you are staked, then you are yield farming

[arctic harbor]

so that must be the ILV im earning from when I just staked few minutes ago

[autumn cloak]

Yep probably. It refreshes every 15 seconds

[brisk surge]

That moment when you realize you made more interest in 2 minutes with ILV than you would have with your bank in a year is pretty priceless.

[arctic harbor]

cool, definitely bookmarking this so I got an easy dashboard to check where I'm at.

[quick socket]

I noticed the SLP pool is distributing much less ILV than last week (at least 30% less).

Is that because more people are staking in ILV pool? Thus SLP is getting less of a share?

[autumn cloak]

Nope both pools always get their same shares SLP gets 80% and ILV gets 20%. The APY is a bit lower this week than last so that might be part of it, but not sure that would have dropped it 30%. Maybe something to do with the flash pool?

[covert cape]

What is the contract address for sILV anyone know here ?

[clear cape]

Nah it’s because people are just hammering into it. I think a lot of people are selling sILV into SLP (which isn’t optimal for everyone)

[autumn cloak]

Check in the pinned messages

[covert cape]

ok , thanks

[quick socket]

Could it be IL loss in SLP pool. ILV is pumping a lot harder than ETH

Most likely the flash pool is siphoning off some rewards

[clear cape]

A bit of this too

[mint cave]

flash pool only receives 2% of total yield

[clear cape]

It’s mainly people reselling sILV into SLP I believe and the fact lots of people are hammering into the pool too

[quick socket]

In theory, the higher the stake ratio, the less reward each SLP gets

[arctic harbor]

Hey I thought you could buy sILV in one of the DEX's like Uniswap or Sushiswap, but can't find the token. Anybody know where we can find it? As I understand, sILV can be swapped for ETH to make Land purchase in game when it becomes available. I don't want to claim it as my staking reward, since I want the RevDis + Compounding with ILV... so would rather buy my sILV later.

[autumn cloak]

So it is not one of their main tokens that they swap, so you have to paste in the contract address for sILV

[agile fiber]

its in the pins I think

[molten thistle]

sILV Token: 0x398aea1c9ceb7de800284bb399a15e0efe5a9ec2

[arctic harbor]

got it thx.

[molten thistle]

I think you can get it on uniswap, I think sushiswap ran out of luquidity the last time I looked but might have more in stock by now

[arctic harbor]

just saving it for later, not buying any now.

[trail sedge]

when claiming ILV rewards, I see Claim sILV, is that restating?

[near bay]

if u claim ilv rewards into silv how much silv do you get for 1 ilv

[fresh grail]

silv will not re-stake. it will be claimed and deposited into your wallet. if you claim ilv, yes it will re-stake for 1 year locked

[trail sedge]

what is silv? same as ilv?

[fresh grail]

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

[trail sedge]

thank you

[fresh grail]

no worries. I would explain it, but I feel I would miss out important details

[versed wyvern]

Staked some SLP. Feels amazing

[sacred cosmos]

https://tenor.com/view/wolf-of-wall-street-jordan-belfort-leonardo-di-caprio-one-of-us-jonah-hill-gif-5441859

[molten thistle]

1 sILV has the same value for IN-GAME spending as 1 ILV has in market value.
If you claim ILV it will be vested (staked for one year) but if you claim sILV then you can use it in game instead of ETH.
If ILV value at that moment is $800, then you'd have equivalent spending power in-game of $800 worth of eth.

[near bay]

but how much is 1 silv rn so if i took it out of the wallet to get liquidity

[molten thistle]

Ohh , those tend to go for about half price of ILV

[near bay]

okay cool ty

[autumn cloak]

I think its right around 300 rn

[molten thistle]

omg.. they must have run out of liquidity, its through the roof. $533
https://www.dextools.io/app/ether/pair-explorer/0x28b3f067af4f4501a7df03859ab6f8b142c4ab2e

[mint cave]

thats the sushi pool, hasnt had liquidity in weeks

[agile fiber]

No. Theres way more liquidity on uniswap its $286 right now

[near bay]

do people buy on the dextools?

[molten thistle]

dextools uses sushi

[near bay]

but why is it 500 dollars and uniswap is 286

cant u make profits from that lol @molten thistle

[molten thistle]

if there are less of them available on sushi, they would cost more. I don't think people would buy them at that price though if uniswap still has them for half price

[mint cave]

it has ~$1k liquidity, you basically can only make a couple dollars off it after gas costs if that

[near bay]

makes sense ty guys!

[floral widget]

That's the wrong pool , the sushi swap one is always dry. The uniswap one is rich https://www.dextools.io/app/ether/pair-explorer/0x13cf86f52d4a3000ca7349ce5cf107c248dfea81

[sacred cosmos]

yeah, uniswap holds over 2k sILV

[glacial scroll]

hey guys, hope all are well, trying to understand the basic tokenomics, for instance if i stake say 10 ILV in the ILV staling pool and i choose do earn sILV rewards is my initial 10 ILV that i staked in the ILV staking pool eligble for vault revenue distribution?

[autumn cloak]

Yes. As long as you keep your tokens staked, they will always be eligible for revdis. As soon as you unstake, they lose that. Also know that sILV is NOT eligible for revdis

[glacial scroll]

thanks a lot, thought so, just wanted conformation, i want to get some sILV so i can use it in the game but i also dont want to miss out on those juicy revdis 🙂

[autumn cloak]

No problem! yep as long as it stays staked, you are good to go for revdis

[glacial scroll]

yeah sweet, im excited

[white mirage]

If I have all 3 pools (ILV, SLP, and LINK) and want to claim sILV, I claim the sILV for SLP pool to claim all, correct?

[gloomy gazelle]

Mmm I’m not sure if it will claim link pool rewards as well.

But SLP rewards claim does proc a tx to claim ILV pool rewards

[gloomy gazelle]

All rewards accrue as ILV. But when you think there’s enough to claim/vest you can then choose to start a transaction to claim as either sILV or vest as ILV. Your initial deposits are not specifically limited to claiming either ILV or sILV.

[gritty sparrow]

How does my stake earn? I staked around usd500 but it has not earned any silv yet?

[zealous fable]

Total Amount Staked = 814Mm
Is this graphed publicly by time?

[young dawn]

Any estimation when version 2 of staking will live yet please?

[open spear]

After my 12 month SLP stake comes to the end, Can I leave it in at a 2x rewards ratio?

[sacred cosmos]

November.

[brisk surge]

Yeah it keeps its 2.0 weight until you withdraw it.

[open spear]

Nice. Do we know when the SLP rewards will end?

[brisk surge]

Yield farm lasts 3 years. It started in july I think so there is a while to go.

[open spear]

Awesome cheers

[granite halo]

Sooo uhh I just clicked Add Liquidity in sushiswap when gwei was at 41.

The moment after naturally gas jumped up to like 59 gwei. Am I just fcked now and gonna lose the gas fee?

[granite halo]

Nvm it went through. I am balls deep in Illuvium.

If I can't atleast get enough to take a girl on a date after 1 year, I will never forgive you guys lol.

[sacred cosmos]

There's always cuddle cafe hahaha

[granite halo]

Lmao shiiiit better be more like a cuddle drive through so we can snuggle in my lambo.

[warped anvil]

Anyone know what's going on with gas right now? I went to claim my ILV rewards when it was at 40. Now it shot up to 700 and my transaction won't even show on etherscan 😦

[sacred cosmos]

Its slowly going back down now.

[warped anvil]

https://tenor.com/view/3po-star-wars-this-is-madness-gif-13899583

[fleet moth]

Hi Everyone, i have some ILV on my Binance account and I'd like to Stake it. When transfer it to Metamask do I use the Ehterium Mainnet?

[sacred cosmos]

Yes erc20

[fleet moth]

thanks mate!

[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

[floral widget]

Girls take me on a date

[glacial scroll]

anyone know a good gwei price right now i should wait for? is there a more decent range area?

[worn palm]

Well I just claimed at 51 gwei and I'm happy with that 🙂

[rocky fox]

I had a transaction at 51 gwei as well and it went through while I was sleeping, hopefully that's all and it's claimed now 😂

[sonic wolf]

yeah 50 gwei seems to be the bottom now

[brazen egret]

Rip wont reach 40

Transaction is gonna be stuck forever

[floral widget]

Likely in another 3-4 hrs

[brazen egret]

Fingers crossed!

[floral widget]

That's the lowest gas time of the week historically

[urban field]

Best time to stake now?

How much it costing righting now in dollars?

[sacred cosmos]

Ilv price and gas can be seen on the right of discord

[brisk surge]

You can check https://etherscan.io/gastracker

[rocky fox]

yep I sped it up to 51 gwei through metamask, you can also do that if you got metamask, there's other ways to do it as well but a bit more complicated

[rocky fox]

also wouldn't say likely although it shows as the bottom my transaction at 41 gwei was pending at the time it went to like 37 gwei, yet it didn't complete my transaction, so don't try to hit the bottom 😄

[midnight belfry]

can someone help me understand staking?

[cunning perch]

Hey. This vid can help you with it #🥩〕staking message

[midnight belfry]

what does apy stand for?

[cunning perch]

Annual Percentage Yield

[midnight belfry]

@cunning perch sushi apy is %500 + is that correct or am I tripping

[cunning perch]

!lp It's correct. You can read this if you wanna do it:

[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

[hasty flicker]

I was in the same position last week. I had the three pools you mentioned, but claimed ILV instead of sILV.
I claimed rewards for the SLP pool. It did not affect the LINK flash pool rewards. The SLP and ILV core pools were both claimed.

[brazen egret]

Yess! My 40 gwei transaction finally cleared!

9 hours isn't too bad

[sacred cosmos]

How do you set gwei transactions?

[brazen egret]

Do you use metamask?

https://www.youtube.com/watch?v=elWcp72vO2M

Just watch this @sacred cosmos

[sacred cosmos]

Thanks buddy! Will watch it now

[midnight belfry]

I liquidfied it but I cant see my tokens

[sacred cosmos]

Care to explain the steps you took?

[compact coral]

Hello, is this meant to be a video link? I can't open it

[midnight belfry]

went to went to sushi swap

[cunning perch]

Hey. You can find the video in the pinned messages in this channel. 🙂

[wanton field]

maybe add the ILV/ETH liquidity pool token to wallet as custom token?

[compact coral]

Ohhhk I will check it thank u : )

[midnight belfry]

how do I do that

[cunning perch]

!contract

[woven ibex]

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

[cunning perch]

Add the token addresses to your wallet manually

[compact coral]

Are u guys staking on LP or normal btw

[cunning perch]

https://tenor.com/view/everywhere-pellek-pellekofficial-spreads-worldwide-gif-20540187

[compact coral]

😂👍🏻

[midnight belfry]

sweet thanks bro

how do I stake sushi? do I just convert ilv into sushi?

[cunning perch]

You cannot stake Sushi in ILV.

[midnight belfry]

how do I stake sushi? I gotta make slp's?

[cunning perch]

If you mean how do you stake SLP (Sushi Liqiodity Pool token) on ILV website, I already sent you the link: #🥩〕staking message

Otherwise you cannot stake Sushi in ILV pools.

[midnight belfry]

so if i swaped ilv for slp

[chrome slate]

can i ask are there fees to collect rewards from staking?

[cunning perch]

You cannot. Please read the link and watch the video in the pinned messages. They will walk you through it in details

[brisk surge]

Yes sir you have the two transaction fees with the current staking.

[chrome slate]

so from what i understand after collecting the rewards, the rewarded ilv thats being vested will continue receiving interest rate?

[midnight belfry]

sorry im abit confused because it's my first time. So my first transaction it goes into the pool**

meaning I have to do another transaction to receive the tokens?

• 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

[cunning perch]

Yeah rewards collected in ILV will be locked for one year with a weight of 2X and compound, while rewards collected in form of sILV are released immediately to be used in game/land sale

[chrome slate]

with a weight of 2x means the max apy that they are giving out?

[cunning perch]

You add (for example) $10 ETH + $10 ILV in the Liquidity pool on Sushi (again I sent your the link) and confirm (pay gas) and receive SLP (token address needs to be added manually which again I sent you the link above) and you take that SLP and stake it in the website in the SLP pool. Since this is your first time, make sure you totally understand Impermanent Loss (in the link I sent you) and make sure you know that each time you are claiming your SLP rewards, you will have I pay 2 gas.

[cunning perch]

Means your tokens count as double. 1 token as 2

[chrome slate]

alright, can i ask if you ever recommend going all in for SLP or whats a relatively good ratio to put for ilv : slp

[cunning perch]

Well it's no recommendation, but if I were to stake in SLP, I would do with at least $5k (2.5 for each token) and have some ETH reserved for lots of gas fees for the claims

[sonic lotus]

This is exactly what I've done. Again, not a recommendation just saying what I've done. And I only did this after I staked 10k in the ILV pool

[cunning perch]

https://tenor.com/view/cats-in-glasses-smart-cat-funny-animals-gif-12403859

[chrome slate]

but given the low apy for staking only ilv, whats the rationale behind doing this rather than a high apy slp?, is it due to the risk of slp suffering from impermanent loss only or are there other factors

[sonic lotus]

I wasn't 100% sure about the whole IL thing so I was ok with taking the lower APY. After some time and learning about IL, I realised that I'm ok with the risk considering what I had in the ILV pool. so I went ahead and put some in the SLP too.

There was no genius plan behind it. The decision was based on ignorance but tbh I'm happy about how I did it. It gave me time to learn more about the community and the protocol without feeling any real risk.

[cunning perch]

It is IL free and not volatile as it's not bound to the price movement and for that it's safer even if price drops. Also you pay just one gas to claim the rewards.

[chrome slate]

alright maybe ill try out putting some into both and see how it goes, thanks for both your help

[brave needle]

40% Roi is not low. The thing is 400 is damming high

[brazen egret]

Lol when i started it was around 650%

[brave needle]

The dream xD

[brazen egret]

Absolutely. Not in a million years did i imagine getting 40 ILV in 3 months

But obviously the reward for the next 3 months won't be as good as the first 3 months anymore but nevertheless anything 100% above is still ridiculoudly high

[halcyon oracle]

And we will probably be above 100% for around 30 weeks ❤️

[sacred cosmos]

Not only thay your token x6 already.

[brazen egret]

Yea 10x my initial investment

[sacred cosmos]

Congratulations! You made it! Wen lambo?

[brazen egret]

Need another 10x for lambo

We all gonna have a lambo soon anyway

[midnight belfry]

Is paying gas the same as paying miners fee?

[brazen egret]

Yes but note "gas" is for the ethereum network only

[midnight belfry]

is there an easier way to balance out liquidity instead of maxing out a certain token?

nvm I found it

[sacred cosmos]

Just plug on the value of say ilv in sushi lp itll auto compute how much eth

[midnight belfry]

yeah roger

[brisk surge]

!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

[midnight belfry]

say i put $1000 dollers worth of slp into the sushi pool and I did it on a flex contact for a week

whats the return on that? how do I work out my returns?

[brisk surge]

You can estimate this with one of the calculators in the pinned messages, they aren't 100% cause you can't account for the apy in the future but it will give you a rough understanding.

[midnight belfry]

I see. I'd assume if I did a fix contract say for 52weeks the apy % would also be subject to change?

[brisk surge]

Yes, the APY changes and overtime so does the percent in the distribution of the ILV rewards from staking as shown here.

[lilac coyote]

happy claim day

[patent musk]

What would be the minimum good number of tokens staked? Either ilv or slp

[sacred cosmos]

Usually you take into consideration the gas fees you'll pay for staking and claiming.

[patent musk]

@sacred cosmos thanks mate. I haven't done the proper math for this yet

[delicate cloak]

Imo for ILV is 1 token. Just time the gas. And I haven't done SLP but I think the general consensus is around 3k USD at current pricing.

[patent musk]

That's about 1 token each right?

[delicate cloak]

Yeah I am not as familiar with SLP so didn't want to mislead you lol. Iirc the SLP token price is around 3k. But I know I've just seen others recommend that much for staking SLP as there's more gas to pay

I scooped ILV on Binance and paid 0.05ILV iirc for fees to get it out and then less than $50US to get it all staked up

[patent musk]

Thanks mate! So that amounts to around 3.6k USD?

[brisk surge]

Hi guys. I have a question. What exacly is weight at staking ?

[cunning perch]

hey. You stake with a weight of 2X = your token would coint as double. 1 = 2

[brisk surge]

I undertsand. I did stake it with double weight in the core pool, with 365 days, and my weight is 23 percent, and my rewards are really low too. Should be much higher. Can someone help me undertsand what happened ?

[cunning perch]

23? in the vesting section you can see the weight if you have done it for a year, it should be 2.0 and it all depends in which core pool you staked as the ILV pool's rewards ration is ofc way lower than SLP

[delicate cloak]

sorry I don't follow. gas fees are variable and I'm not sure how many txs it takes to stake SLP as I haven't done it. with ILV, it's much less gas, that's all I know.

[storm stone]

Hey guys! When I claim my staking rewards - do I need to restake those rewards to have them staked too? Or is it enough just to claim them? Because it’s one time paying gas to two times then

[delicate cloak]

with a 1 year lock up and staking ILV it should be a little over 60%. but if you have it flexible and don't lock it, it'll be half that

[cunning perch]

when you claim ILV, they will be added to your stake. So no need to restake. (there is no re-stakingin ILV)

[storm stone]

So that’s two different answers now - what’s correct? :D

[delicate cloak]

deleting my message as I guess I'm wrong, I misunderstood.

Arash is definitely a better person to listen to! lol

[cunning perch]

YOu claim rewards in form of ILV, it will be staked AFTER the claim and moved to ILV pool and compound to your already staked ILV (initial deposit). If you claim sILV however, it will be released to your wallet to be used in game/land sale.

[cunning perch]

https://tenor.com/view/youre-too-kind-juan-pablo-di-pace-fernando-fuller-house-youre-so-nice-gif-17588946

[brisk surge]

Thank you guys for your time on anwers. In the vesting tab indeed it shows 2.0 weight. I think I did confused it with new staking weight.

[cunning perch]

Ah no worries. 🙂 if you had any questions feel free to ask

[delicate cloak]

lol i've only been here a couple weeks, I'm new to the party. and honestly, I'm glad I learned that, it means I'll be paying less gas!

[cunning perch]

learning never stops. It's still wonderful to see everyone helping one another. It's a family first.

[storm stone]

alright guys. that’s cool. so it’s only one time paying gas! Thanks a bunch.

[cunning perch]

For ILV rewards in ILV pool, yeah. For SLP rewards, No 🙂

[delicate cloak]

yeah i love the community. been trying to learn and share what i know when people ask! seems like there's always new faces joining

yeah I started with just ILV because it's less fees and more simple. now to save some bank to join the SLP pool. hopefully I can get in before it gets too crazy lol

[storm stone]

ahhh ok.yeah I am in the sushi pool so it’s probably two then. Damn :D

[cunning perch]

Yep. Watch out for it cuz you don't wanna pay too much for gas 🙂

[delicate cloak]

bigger rewards but just more fees. that APY is nuts though

gas is only 66 right now too 🤯 it was like 250 the other day

[cunning perch]

Today is Sunday. As you see the market is kinda stagnant. The real movements happen during the week and therefore gas will be volatile then. For now, It's in 40s which is actually good

[delicate cloak]

yeah it just keeps dropping! i usually try do stuff at the weekends because i've noticed it being cheaper

first time i actually sent someone BTC it was as the market was dipping and paid $50 to send a couple hundred $. learned all about network congestion that day lol

[cunning perch]

https://tenor.com/view/thanos-marvel-small-price-pay-for-salvation-gif-14748250

[delicate cloak]

it really was the beginning of the end for me 😂 i went deep down the crypto rabbit hole and now here i am

[manic spindle]

Looks like you ended up in the right spot, I'd say 🙂

[brazen egret]

1 transaction went through today for me. Only 40 gwei

[delicate cloak]

definitely! so happy to be here early. great videos btw Stormi! just checked them out. anyways, i'll stop spamming staking 😅

[brisk surge]

I just staked into the sushi pool, locked for one year. Was this a mistake?

[delicate cloak]

awesome! we need to pin that for when people ask when is the best time to buy

[clear cape]

no

[cunning perch]

https://tenor.com/view/mulan-mushu-proud-so-proud-proud-of-you-gif-19776467