🥩〕staking

[formal gorge]

Wow thank you again!!! ah! the frist transactions.. so clever! 😇 Thank you very much Blickter!

[cyan rampart]

Blockchains are so good like that 😄 Blew my socks off when I realized you can see... EVERYTHING!

https://tenor.com/view/eyeofsauron-allseeingeye-lotr-gif-4971763

[summer heath]

im newer to staking pools. only a few times including this one. how did you see those transactions? just opening up ether scan?

[brazen egret]

Oh damn so i staked only 15 days after it started

[summer heath]

interesting

[cyan rampart]

The ILV Core Pool is a major holder of ILV, because staked ILV resides there. You can check the earliest transactions with that pool.

[rocky arch]

do you think there will be gas fee when transferring staked ILV from V1 to V2?

[cunning perch]

Yes. You are transferring it between smart contracts and therefore have to sign it (pay gas)

[novel wyvern]

guys, can anyone help me with a doubt
hi, i never claimed the rewards... is that wrong? should i need to claim those? or just when i claim, will be locked for 365 period? im on the sushi lp pool and get ilv as a reward

should i need to transfer ilv v1 to ilv v2?

[summer heath]

they will be locked for a year. I normally claim at low gas fees. maybe Sat sun real early is normally low gas. if you claim it will go into a separate pool earning 49%apy

[summer heath]

I don't know anything about ILV v1-v2 yet. im going to wait for guidance from the mods on that

[rocky arch]

From what I heard, ILVs claim in V1 will stop gainin rewards once unlocked until you transfer it to V2 to continue its staking. is that right?

[cunning perch]

Yea. When tokens get unlocked, if you need them to continue to receive YF rewards and RevDis you gotta migrate to V2. More more detailed info you can find the proposal in pinned messages in #809220563397902346 though a newer version will be released soon with probable changes. @novel wyvern @summer heath

[summer heath]

Awesome thanks. this hasn't come out yet right? V2 is a little ways away right?

[cunning perch]

No changes still need to be implemented and if approved by the council, the full implementation will be done (I think in November). the date is not out yet. Somethings may (not) change. 🙂

[summer heath]

Ok awesome. thanks so much for clarifying this. for a second i thought i missed something

[cunning perch]

Don’t worry about it. It’s all a proposal for now. 🙂

[spark axle]

Hi, i'm new to this whole staking thing, could someone explain how it works?

[cunning perch]

Hey. Welcome. I suggest going through this and if you had any questions ask them in proper channels and we’ll help you 🙂

[woven ibex]

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

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

[spark axle]

Thanks!

[sand cloud]

How about claimed ILV rewards? Will you have to move each individual claim as its own transaction to v2?

[cunning perch]

No i think after the implementation it would move to V2. (I think) not the already claimed ones though

[molten thistle]

I think i read somwhere that the claimed rewards when moved to V2 will still be indepently listed on the vesting page with their proper unlocking dates? or was that a dream

[sand cloud]

So might be better to wait for v2? Rewards are slowly creeping to the lvl that would justify gases. Although having staked a small amount in both pools seems to have been dumb 🥲

[cunning perch]

We’ll have to wait and see the draft getting approved. The points will be made clear. For now we are all in V1 and have sit tight 🙂 @sand cloud

[sand cloud]

Claiming slp rewards claims ilv rewards too?

[molten thistle]

Yes

[sand cloud]

😭 I'll have to claim >0,1 ILV to claim the slp rewards

[molten thistle]

Lol yeah, at the same cost too.. 50 bucks for 0.1 ilv and then 50 more for 1.3 ilv

but here is the trick, I'm sure you use it too though.
#🥩〕staking message

[brazen egret]

@sand cloud out of context but your profile picture really reminds me of the youtuber Karl Rock...

[gleaming pilot]

So when I have pending rewards in the LP those rewards aren't earning anything?

[sand cloud]

Ohhh thanks for the tip! Haven't claimed anything yet so didn't know how it works ^^

[cunning perch]

Pending rewards don’t do anything and will not have any compounding effect.

[sand cloud]

Had never heard of him, I'll take that as a compliment 😁

[brazen egret]

1.88 million subs on his channel :P

[gleaming pilot]

Thanks. Thought as much. Has anyone done the math of when it is best to claim rewards? Because vesting rewards do earn as far as I know.

[cunning perch]

No worries. You can find good calculators in pinned messeges to help you but this is my strategy:

When gas = 1% of my pending rewards in $, it’s a good time to claim

[gleaming pilot]

Nice one. Thanks.

[sand cloud]

It's actually soon 0,1 👀 I'll have to start watching has prices again, total rewards soon at 2 🥳 hate having to stress about the prices 🙄

[bright heart]

Guys it's still not clear to me what happens with said fees on sushi swap?

Do we get them? Or if we don't because we're staked - do Illuvium gets them in some way? And if so do they get accounted in revdis or something else?

The way I see it that money does not just vanish.

[brisk surge]

"Fees are added to the pool, accrue in real time and can be claimed by withdrawing your liquidity"

[bright heart]

We're still eligible to those even when we stake? But we need to unstake in order to remove the liquidity in order to get them?

I wasn't sure how removing the SLP token from our wallets works with sushiswap.

[brisk surge]

Yeah, the fees go into the pool and increase the value of your SLP token. Profits are realized when converting SLP back to ILV/ETH.

[bright heart]

This seems really great 🙂 Thank you for explaining it.

[timid otter]

https://staking.illuvium.io/rewards UI seems weird. It says "ILV rewards are subject to a 12 month vesting period. While they are vesting they compound your rewards." but the buttom lets me "CLAIM ILV" when it's only been 60 days (not the full year)

[molten thistle]

You can claim as often as you'd like. Once you claim, that bit is then vested, locked in for 12 months.

It costs gas to claim, so you don't want to do it too often, but if you claimed once a month for instance, after one year you would start having those claimed vested rewards unlock at that same once a month interval.

These were claimed a week apart, notice the time remaining differs by that amount

[cunning perch]

I wonder what’s under the redacted part haha 😂

[molten thistle]

I didn't want to scare away the little guys, or get teased by the big ones

[floral marlin]

We are free to interpret however we'd like 🙂 smart, hehe

[cunning perch]

https://tenor.com/view/the-rock-dwayne-johnson-love-me-yes-basking-gif-19918390

[timid otter]

ethereum network fees are too high

[molten thistle]

Yeah if its 1ILV or 1000, it still takes a year to unlock 😆

[cunning perch]

For now yea. In the weekend it cools down a bit. No guarantee though

[timid otter]

why does it say I have to claim both ILV and Sushi LP; seems broken because it charges two ETH fees

[cunning perch]

I'm sure it's the latter 😄

[cunning perch]

Claiming SLP is always a two TX as it claims both pool rewards.

[timid otter]

I think the web interface should have an option to claim one only

[molten thistle]

Yes, it does, ILV reward has to be claimed for the SLP reward to be claimed, so it does them back to back when you claim SLP. Here is a tip to maybe save you a little bit
#🥩〕staking message

[timid otter]

seems broken that you can't just claim LP rewards independent of ILV staking

[cunning perch]

We just provided you with reason why it’s the case. You can always claim single ILV pool. But SLP is always a 2 TX. Not broken

[sonic lotus]

If I’ve got some staked in ILV and SLP and decide to add more to the ILV pool will I be required to claim both rewards?

[cunning perch]

For ILV pool no, but you pay a bit more gas for ILV reward claims. For SLP, yea it will claim both pools and you pay even more gas

[sonic lotus]

Thanks

[quick dirge]

hey, so i use little bit different method (maybe you want to try it out).

1. Wait till you are comfortable with spending big fee compared to your amount of staked SLP
2. Wait little bit more for next weekend (during weekend fees are lowest, go with Friday evening or something )
3. Hit "Claim ILV"
4. when you get Metamask popup hit "Edit" (in this example fee can be as high as 130$)
5. Change "Max fee" to some reasonable value (in this example 35 GWEI, i also changing "Gas Limit" to like 500 000 to be sure i do not run out and waste my eth on filed transaction)
6. Hit "Save"
7. Your fee will drop to ~30$
8. Repeat with same GWEI value in second transaction

**THIS MAY TAKE YOU ENTIRE WEEKEND TO GET THRU **
(or if it was wild weekend, it may happen next weekend, no rush)

[cunning perch]

It's totally the same as what I do with the limit but I use fast gas and def would not want to wait for it to take 2 weekends to go through. Mine goes through in seconds.

[molten thistle]

Wow, 35 gwei and still estimating 30 seconds? What magic is this! Do you time travel?

[quick dirge]

dont look at this estimation 😉

[cunning perch]

Def not 30 seconds. It'll take two weeks lol

[molten thistle]

hehe. Yes though. Good advice too.
The one I posted was originally in reference to someone who had just clicked back to back confirmations without looking, so I was hoping to save someone else that misfortune.

[quick dirge]

not everyone has thousand of dollars in SLP xD so we have to try drop fee as much as we possibly can ^^

[cunning perch]

Actually it's not thousands of $. It's the gas you pay. I only leave $200 for gas money but I Wouldn't want to miss out on rewards and wait two weeks. I would ofc wait for the weekends and do it with fast gas.

[quick dirge]

i did it 2 weeks ago and took me 3-4 hours tho

[cunning perch]

Well it's still a gamble 😄

[molten thistle]

I wonder if the days of 35gwei are gone with every one and their mother coming out with sets of 10k NFTs lol. I don't think I have seen below 50 in weeks

[cunning perch]

In the near market and ETH 2.0 it will be in cents 😂

[surreal loom]

Claim every ten minutes when that happens lol

[quick dirge]

and well, 35 is an example, but you can set it to 45 or 55 or 70 and repeat all steps i provided

[cunning perch]

Yep. Your process is valid as I do it myself 😄

[cunning perch]

Gonna grind the claim

[chrome slate]

wow am i getting ripped off or what im getting charged 154 usd for gas fees ?

[quick dirge]

oh, actually i was wondering about something, do we know the prosedure of revdivs for land sale. Specifically i wonder if they are taking snapshot of my staked ILV in time of actual sell of specific land (or any other income) and based on that i will get my portion, or snapshot is taken after everything is done and they are ready to distribute stuff

just wander if i need to get my rewards before land sale or before redistribution ^^

[chrome slate]

anyone has any experience with trustwallet and whether their network fees are just extremely high

[frigid tinsel]

How can i stake $ILV?
Are there any guides?

[molten thistle]

@chrome slate
When gwei is in the 90s to low 100s that seems about right.
Keep an eye on a gas tracker and try again when its lower, like 50s or 60s
https://etherscan.io/gastracker

[brazen egret]

mm yea i set mine to 40 gwei and it took me 2 weeks

If you're willing to wait then it's great

[molten thistle]

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

[chrome slate]

these are some insane gas fees especially for me whose not exactly staking alot damn

if i put my gas price at 35 gwei is there any chance of it going through with this current state

[molten thistle]

The fees are based on the transaction and how many transactions are pending globally, it really isn't affected by how much the dollar value is of your particular transaction.

[cunning perch]

!staking

[woven ibex]

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

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

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

[chrome slate]

yeah atm im essentially paying the exact amount im collecting

[molten thistle]

Doh, yeah you might wait a while to claim then.

I tended to claim when my gas fee would only eat up about 10% of my reward value, but ive gotten more patient now and going to try and wait til its only 5%

[chrome slate]

only problem is im not allowed to do additional stakes until i claim my reward

[molten thistle]

Hrmm.. tricky

It might go at 35, but looking at the chart it hasn't been below 50 in a couple days.

[quick dirge]

usually charts showing you average for 1 hour or something, there are dips in gwei price that you are not seeing

[chrome slate]

man i guess im just waiting for this dip

[molten thistle]

Here is the latest heatmap, looks like Saturday evening was the lowest in the last week. Or maybe Sunday at 5 or 6am

[chrome slate]

oh my goodness

should i just bump my gas price to 50~60 gwei instead of waiting?, need some advice here

[molten thistle]

Those are averages per hour, like @quick dirge said. If you set it to 50 I think you'd definitely get it done sooner, maybe even today. 35 might take you a couple days at least.

[chrome slate]

wow ok my 35 gwei one already failed

[molten thistle]

The last hour avg was 95, so that prolly bounced from 50s to 150s

[quick dirge]

but like @molten thistle said xD, it is good practise to wait till your gas fee is no more than 5-10% of your reward 🙂 in other case it will kill your roi (reward staking is 49% right now so it will take you long time for this claimed ILV "earn" back your paid fee)

[sand cloud]

Any idea what happens to the yield while waiting for the transaction tl go through?

And will each reward vesting require its own claiming transaction?

[molten thistle]

Yield keeps ticking up every .. 15? seconds

[quick dirge]

mine was growing and waiting for transaction
for example, today i have 1ILV to claim
going with propagating my transaction right away
this transaction will get thru in 3 days and at this time i have 1.3 ILV to claim
amount claimed will be 1.3

hope that's what you were asking ^^

[bright heart]

Another formula I plucked for our favourite spreadsheet creators:
ILV from coin gecko =importxml("https://www.coingecko.com/en/coins/illuvium", "//tbody/tr/td/span/span[@data-coin-symbol='ilv']")

[brazen egret]

Yep same as what the others said. When the transaction goes through it claims the full amount of your current total pending rewards

[brazen egret]

Oh and the other day I received 0.11 sILV even though i didn't click redeem sILV. Apparently someone said that was just slippage so everyone gets a bit of silv even though they never claim it.

[manic spindle]

!claim One or the other 🙂

[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.

[little crane]

If my locked staking period finishes and i leave the ILV there do i still earn rewards? and at what APY?

[cunning perch]

When they get unlocked, you will probably have to move them to V2 if you want them to be eligible for more RevDis and YF rewards. Re-locking them is still a matter of debate and will be clear shortly however. The APY is not clear as it varies and depends on the price of the tokens and people joining/exiting

[fallow gate]

Hi Arash. How are you doing? Just a follow up from yesterday, i just wanted to make sure that i have staked my ilv correctly

Does it look ok to you and am i set?

[eager fractal]

looks ok to me, but im no arash

[cunning perch]

yep. Everything looks good 🙂 welcome on board

[sacred cosmos]

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

[glossy shoal]

Staked 20 ilv last night let’s go

[brazen egret]

Welcome onboard

[fallow gate]

Thank you

[deft depot]

If I claim rewards that I earned in V1, will they be locked for 12 months in V2 (once V2 has arrived) Or will it still be V1 and afterwards I move then to V2?

[cunning perch]

everything will be moved to V2. The complete proposal will make it clear should anything change 🙂

[deft depot]

thanks for the quick reply 🙂

[cunning perch]

no worries 🙂

[inner cove]

i know it‘s everybody‘s own decision, but do you think 480$ as rewards from sushi pool justifies the gas to claim? not sure…

[cunning perch]

now? no. you'll be paying more than $150 to claim rn

[inner cove]

ok, so i should better pile up to 2 ilv as rewards and claim then? i‘m thinking of compound… at some point it‘s worth claiming i guess

[cunning perch]

yeah as long as you don't end up paying a lot for gas, claiming is justifiable.

[coral apex]

You can check out the pinned messages, Lelahel posted a calculator to estimate when is it better to claim

[inner cove]

thx, i appreciate!

[sand cloud]

Let's say one claims every ILV every week. Now after a year when they vesting rewards have unlocked and he's about to move them to v2, will he have to pay gas separately for each claimed reward pile?

[lofty forge]

Why is gas not going down 😦 can’t even claim my ILV

[cunning perch]

yea that's correct to my understanding, then again, the bear market and ETH 2.0 might be out by then and gas will be in cents

[chrome slate]

if i were to stake slp twice 0.73 and 1.72 each, when rewards come ill be collecting them as individual amounts right? which means there would technically be twice the gas fee? so it would be more worth it currently to wait for my locked 0.73 slp to unlock and stake them together?

[cunning perch]

staking/claiming SLP is always a 2 gas tx, unless it changes with implementation of V2. I guess it's better to stake first (let it claim rewards and then if it was worth claiming, claim.

[chrome slate]

as in i staked 0.73 slp 2 weeks ago, today im staking 1.72 slp, which means when im collecting their rewards ill be paying gas fee for both?

[cunning perch]

Since you are staking a new batch, I believe it might be like this: 1 gas for approval - 1 gas for ILV reward claim and 1 gas for the new SLP stake. rn gas is not favorable. better wait for tomorrow or Sunday as the weekend is at the corner.

[sand cloud]

That's an oof

[cunning perch]

you're getting good rewards for it though haha

[chrome slate]

so in the future when im collecting rewards will i be paying gas fee for the 0.73 slp and the 1.72 slp ? so would it be better to just wait for the 0.73 slp to unlock and combine both to stake so im only paying fee once whenever im collecting rewards, assuming im not putting more than that

[cunning perch]

when you stake SLPs they will compound anyway. you will have to pay 2 gas for 2 TX each time you wanna claim. (unless V2 changes that) but for now whatever is done, it's done on V1 and it's always a 2 gas tx

[autumn cloak]

I believe what you are trying to ask is if you will have to pay gas twice to collect rewards on separate stakes. I think the answer to that is no. All rewards should accrue together from all stakes and you can claim them in one txn

[cunning perch]

SLP claim is always a 2 TX 🙂

[autumn cloak]

Oh yea ur right. Forgot about that

[chrome slate]

i see, so okay given this scenario where currently i have 0.73 slp staked , unlocks in 3 weeks, and im going to stake an extra 1.72 slp, it would combine together to form 2.45 slp? and when the 3 weeks is over ill have to restake the 0.73 slp that it combines together again?

[eager fractal]

heard the weekends are usually better for that, if you can wait a bit

[cunning perch]

As long as you are on V1 and V2 not implemented yet, your unlocked SLP will continue to receive RevDis/YF rewards. When V2 is put, you are going to have to migrate it there. As for the new stake, if you do it now, it will be locked on V1 until the locking is done and then you will be required to migrate to V2. (there's no idea as you need to lock pon migration now). Now, you can also withdraw your unlocked SLP, and re-lock all together for maximum 2X weight before the implementation of V2. Anyhow, you are in for lots of gas TX.

[summer heath]

when is V2 expected? 1-2 months?

[sand cloud]

As soon as it's ready, hopefully in a couple weeks

Although the details aren't set to stone yet

[royal solstice]

So when V2 comes out, I can migrate to that to deal with less gas? As long as I’m willing to pay gas now, I can go ahead and stake v1 SLP at 2x weight. I’ll have an opportunity to migrate before the 1 year is up?

I find the logistics of the launch confusing when it comes to existing stakers.

Intending to up my SLP stake. Just want to know that it’s a good idea to do it when I see low gas. And not just wait for v2.

[sand cloud]

You lock your tokens on v1 for a year, they're locked there for a year. After the locking period is over, you can move them to v2 if you want to collect revdis and yield

[hot lynx]

So you are waiting

[fierce plinth]

I haven't heard of this, is that for SLP only or does that include ILV stakers too?

[delicate timber]

Is there somewhere I can read about the pros and cons of staking on the ILV pool vs. the sushi lp pool?

[summer heath]

theres a guy vitamore. i could be off on spelling. hes a community member, his youtube is spot on when it comes to pros and cons etc...

[delicate timber]

Okay I'll try find him on YT, thanks

[cunning perch]

New staking? It effects both pools. In SLP you pay 2 gas, but in ILV pool, you pay one (a bit more expensive gas) to claim rewards first

[umbral kite]

Any idea what time kieran is putting up the video today?

[hot lynx]

Are we taking about the new trailer video

[sand cloud]

Did you find? It's Vetemor ;)

[delicate timber]

Yup found him, very informative. Thanks 👍

[summer heath]

vetemor's channel walked me through everything real well. The other one i used was alluvium academy Rahlord staking tutorial. maybe one day a seperate channel with tutorials in the discord would help a ton, I would have been confused as heck with out those videos.

[cunning perch]

Make sure you watch Stormi’s and Deraji’s too @summer heath

[summer heath]

awesome Ill check it out.

[ripe steppe]

😘

[ripe steppe]

Probably longer than a few weeks for sure, should be out by year end

[ripe steppe]

So your v1 stake will actually remain on v1, but you will connect it up to v2 to continue earning APY and revdis

When your stake unlocks (when your lock period ends) it stops earning APY and revdis and at that point you manually port it over to v2 whilst keeping them unlocked and at their weight

(According to the current v2 info, which may be updated by release of v2 since the council is yet to approve it)

[sand cloud]

So can you collect on v2 with tokens on v1? That'd change the whole thing 👀

[royal solstice]

Thanks. So sounds like no downside to invest now if I get a decent price/gas

[ripe steppe]

Yes, your rewards would be earned in v2, the stake itself is still in v1 until unlocked if that makes sense

[ripe steppe]

Better to stake prior to v2 yes (nfa) especially if doing the full 12 months lock (the way to go imo)

[sand cloud]

Ohhhhhhhhh! Then might actually consider staking more 🧐 got 3 options then

[royal solstice]

I’m 0.91 SLP in at a year atm. Not huge. But first time doing crypto… so I wanted to see it actually was what I thought. And it is. So ready to increase that ideally before land sale and trailer.

[ripe steppe]

Before trailer is a great idea imo

ILV price likely to pump after trailer

[sand cloud]

Ilv is my first investment too ^^ got 1,3 slp and 2 ilv 🥲

[ripe steppe]

@royal solstice both very decent bags honestly!

[sand cloud]

Would've put money in Terra if I had any back when I learned about it, but happy with Ilv being my first one ;)

[feral shore]

Is it possible to transfer my staked assets to a different wallet without unlocking them?

I staked for 1 year using my main metamask but i'd like to have it all on my ledger metamask if possible?

[elder dawn]

Currently, there's no way to move addresses once staked until unlock. That is an element of staking V2.

[feral shore]

Gotcha, thanks

[feral shore]

Has an eta been given for staking V2?

[cunning perch]

Probably next month. It has to be fully approved by the council first

[feral shore]

Gotcha, ty

[tough shoal]

@ripe steppe this is him, his YT is great. definitely worth a sub.

[languid elm]

I'm looking into possibly buying ILV and staking it, how has it gone for you?

[sand cloud]

Up :D

[languid elm]

What is the current staking rewards?

I'm new to staking so I have never done it

[cunning perch]

Hey. I suggest going through this: It will def help you.

!read

[woven ibex]

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

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

[cunning perch]

!staking

[woven ibex]

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

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

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

[tough shoal]

Current rewards are - ILV pool = 49.4% Sushi LP = 398.05%. locking for 12 months will give your ILV a weight of 2.

[exotic vessel]

what happened to sILV uniswap pool?

[brisk surge]

Its on v3 now. The liquidity is fairly low though

[tulip tide]

oh V1 is gone?

[brisk surge]

I believe it was on v2 before. you can put the token address into dextools and it should show everywhere it trades.

[novel wyvern]

i was talking about the rewards. If i claim the rewards, those are vesting automatic for one year? gaining ilv???? The migration to V2 is automatic?

[cunning perch]

when you claim, they will be locked for one year (it happens only AFTER you claim them) while generating more rewards (compounding). However, when they get unlocked, if you wish to continue to receive rewards (YF/RevDis) you will be required to migrate to V2 and NO, it its not gas-free. It is still a smart contract and you will be required to pay gas for it. Nothing is done automatically to optimize the use of gas so you won't be bankrupt

[echo mauve]

Hello, can I ask you? Is it possible to change ILV to sILV? how? thank you

[cunning perch]

Hey. You cannot directly change ILV to sILV. sILV is officially claimed as Yield Farming reward and has no monetary value outside the game. However, there is an open market made by random whales (unauthentic) through which sILV is being traded with a cheaper price (on Uniswap). You can change your ILV to ETH and then swap it with sILV there (after adding the sILV token address to the pool, though keep in mind that the pool is not supported by the ILV team. So trade at your own discretion.

[echo mauve]

Thank you so much for quick respond 🙂

[cunning perch]

anytime my friend 🙂

[echo mauve]

And can you explain me, please, what is difference between ILV a ILV/ETH? What is better and why? Thank you

[cunning perch]

I suggest reading this document for very detailed explanation and watch the videos in the pinned messages. Then if you had more questions, I'd happily help you 🙂 👇

[woven ibex]

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

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

[echo mauve]

Thank you, guys.

[sage creek]

Hi all. If I am already staking ILV and I transfer additional ILV to my meta mask wallet, will the additional ILV automatically start staking or will I need to pay extra gas fees to add the additional ILV to the stake pool? Thank you.

[cunning perch]

Hey. You def need to stake it manually and pay gas for it. 🙂

[sage creek]

Cool, thanks for the clarification. I was expecting that would be the case. I might have to revisit my gradual accumulation strategy. Thanks again.

[cunning perch]

No worries 🙂 happy to help

[native hound]

Is there a minimum to stake ! Have a Lonley one coin of ilv ! Thanks

[sweet coyote]

What does ILV weight of 2 mean?

[cunning perch]

There is no minimum as long as staking justifies paying the gas. Not only for staking, but for all reward-claims

[cunning perch]

It's like you have staked two tokens rather than one. So it gives you more rewards.

[native hound]

@cunning perch thankyou.

[brisk surge]

Does anyone have the addresses of the ILV silv and slp token?

[manic spindle]

!contract

[woven ibex]

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

[brisk surge]

Thanks

Could someone paste just the slp in please I can’t figure out how to copy separately on my phone

[unborn pawn]

Question on this

Current rewards are - ILV pool = 49.4% Sushi LP = 398.05%. locking for 12 months will give your ILV a weight of 2.

Does this mean that the SLP pool has 8x returns / expected returns compared to the ILV pool? I've been trying to do some research around staking pools before asking here but couldn't find anything.

Separately, does the ILV pool allow for staking for 12 months for a higher multiple as well, or is that just the ILV/ETH pool?

[brisk surge]

Yes slp has a much higher apy and the 50 percent and 400 percent are both from staking for a year, the reason the apy is that much higher is because there is a much higher risk involved

[unborn pawn]

I see. tyty

I thought I bought the slp pool but made a mistake. Oh well, I want to invest and support here anyway so it's all good either way

[bleak tinsel]

Hey Discord Fam,

Does anyone know how revenue distribution will work?

For example staking rewards are claimed from the staking pool and then locked in the vesting section.

As far as I'm aware, revenue distribution won't be locked so will there be a separate "Revenue Distribution" pool that can be claimed or stalked/locked at any time?

[brisk surge]

Yeah they will build up over time in their own section. I think you would have to withdraw them to your wallet, and then you would stake them if you wanted to, or sell them.

[bleak tinsel]

Great, thanks

[wooden gorge]

I thought I staked for 1 year but I'm thinking not, because my weight is 1 and my unlock says ---, did I mess up?

[brisk surge]

If your weight is 1.0 then it’s not staked for one year.

[wooden gorge]

damn, thanks

[brisk surge]

Anyone know why it’s not an option to connect a metamask wallet to sushiswap on mobile?

[hot owl]

Qestion: If I have staked for 16 weeks with 1.3 in weight. Say it unlocks next week. If I want to re-stake for 52 weeks. How would I have to do that+

And how many transactions would that be? (for fee calculation)

[sand cloud]

Are you using the metamask app? Iirc it's automatically connected

[brisk surge]

Just figured it out thanks

[elder dawn]

depending on the pool, 3 or 4. You'll have your initial claim, unstake, and then restake. Claim would be two transactions if you're in the SLP

[hot owl]

So 4 transactions probably

I am planning to put some external money in extra as well. Before I can stake that I also need to claim (2 transactions).
So if I:
Claim x2
Stake external (fast)
Unstake (fast)
Restake (fast)

Would that work? Or do I have to do Claim x2 in between even though there is nothing to claim?

[pale trellis]

No just do the staking process as usual. If you have any rewards it will pop up asking how would you like to claim as ILV or sILV.

Oh sorry I didn't read the first part to your question.

[signal basin]

I already have a stake in the SLP pool. I’m trying to stake more in the SLP pool. I believe it said I must first claim my current rewards in the SLP pool before I stake more. I tried to claim the reward as ILV and nothing is happening. I first tried to stake more SLP before I tried to claim the reward. Not sure what to do now. Thx for any insight on that.

Things appear frozen.

[coral apex]

How do the whales actually withdraw sILV to trade? I did claimed some sILV, but they stay in the sILV balance on the staking website instead of going into my metamask...

Do we need to withdraw the sILV into our metamask for the land sale or can we spend the sILV directly from the balance on the staking website?

[carmine drum]

Did you add contract for sILV on your MM?

!contract

[woven ibex]

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

[coral apex]

Oh no, I didn't. So we need to do that and manually transfer the sILV to our metamask?

[carmine drum]

Just add, and the sILV will be there immediately

[coral apex]

I see, thanks!

[honest crescent]

So Rev Dis will not be forced into a 12mo stake? And it will be ILV or sILV?

[livid light]

RevDis is ILV and not staked from what I remember

[mint cave]

correct

unlocked ILV

[honest crescent]

Thanks! One last question. If rev is continuing to be paid in ILV, how does that sustain over time? I thought the number of tokens was finite. Or does revenue mean newly minted ILV tokens? I suspect not.

This might be a token question.

[brisk surge]

!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.

[honest crescent]

Thank you very much

[languid dock]

Claiming my rewards every other week is killing me on gas

Is it always going to be like this? Are they working on something to change anything?

[celest badge]

the wait for low gas fees is killing me!

[signal basin]

I now see that I have some stuck transactions I need to clear out on Etherscan. Will try clear them tomorrow

[cunning perch]

V2 is planning on fixing that.

[languid dock]

Thought I saw something about a V2. Sorry, I haven't been able to do much research as of late. Do you know when it's expected to come out?

[cunning perch]

Probably November. Team is working on it. Some details still might change, but you can find the proposal pinned in pinned messages in #809220563397902346

[languid dock]

I'll check it out. Thanks!

[vital kayak]

Why you claiming every other week instead of monthly?

[floral widget]

How often you should claim should be calculated using the calculator pinned

[cunning perch]

Lots of tokens perhaps? 😄

[cunning perch]

Not a should really. Personally have never used it. I just claim when gas = 1% of my pending rewards. I know for some this is gonna take too long, but at least gas won't be destructive this way.

[hot lynx]

Gas ⛽ is cheap now guys 67

[ember ginkgo]

"cheap"

[cunning perch]

If that's cheap, then what's 30? 😄

[hot lynx]

Cheap vs 602

[vital kayak]

It is the same amount regardless how often you claim dear

[cunning perch]

Yeah. But if you're rich, gas doesn't really matter 😄

[vital kayak]

Well I just did my monthly stake for $99 gas and claimed 2.4 more sILV. I don’t really care what the gas is as long as we making $$$

[cunning perch]

You've got a gorgeous amount of sILV there. Gotta get your hands on some land 😄

[carmine drum]

Or maybe he just wants to marathon in the OW :v

[hot lynx]

Please post when it's 30's anytime 👀🤣

[cunning perch]

Hopefully soon. 😄

[bleak tinsel]

Could someone please tell me how to see the amount of ilv/eth i have staked on sushiswap?

[eager fractal]

Once you stake your SLP, it'll show you how much of the SLP is staked mate - or are you asking what is the breakdown of ILV/ETH within the SLP you staked?

[bleak tinsel]

Yeah basically anything on SushiSwap that shows that I own x amount of Eth and x amount of ILV that i initially provided liquidity for to get the SLP

[eager fractal]

if that's the case you can see
https://app.zerion.io/invest/asset/SLP-0x6a091a3406e0073c3cd6340122143009adac0eda
it shows how many ILV and ETH are in 1 SLV at the moment, you take that multiply by the amount of SLP you staked

[bright heart]

Hey man, If you'll be getting your rewards in sILV there is absolutely no need to do it multiple times. Because you won't get any benefit from that. It's best to stack up all the sILV you want and claim it only once. Claiming ILV is another story because it gets vested for a year and you get yield from it. I hope this saves you some money. Cheers.

[bleak tinsel]

But for example Suhshi swap states that people who provide liquidity in the ILV/ETH pool also earn 0.25% for every trade made - How do we see this?

[hot lynx]

🙏🏻 before ETH2.0 👍🏻 😅

[bright heart]

Check out this: #🥩〕staking message I asked the same yesterday 🙂

[eager fractal]

thanks mate, didn't know the answer to that either 🤣

[bleak tinsel]

Perfect, thank you @bright heart

[brisk surge]

Has implementing a sILV claiming lock been discussed? Where in staking 2.0 you could set to claim rewards only in sILV for a certain period of time and get an increase in token weight in return for yield or revdis. I don't know if it is feasible.

[bright heart]

I think it you like to vest your rewards for weight you'll simply claim ILV. It's the more valuable token anyway.

[brisk surge]

Not if you get more token weight by locking your rewards to sILV then you would vesting just ILV

Is there a minimum amount of ILV staking to get profits?

[craggy field]

You will have to pay a few gas fees before you can stake ILV. If the APY from your staked ILV doesnt make back that difference, then yes the initial gas fees will have taken away all your potential profits. A month ago people recommended buying at least 1ILV. If you pay 100$ gas fees to stake it, then now you will only need to get back 15% fees before you start making profits.
Say you stake 100$ in ILV and your gas fees are 100$ you will have a long way to go before you start making profits, if any.

[hot lynx]

Hey forget the gas or the staking for a few minutes ...
How about the ATH #💰〕token $740 .. 🚀 .. 😭 I want to buy more ... Before any kind of moons .. 👀 🤣

[wispy ferry]

Probably not a good idea because sILV is an erc-20 that can still be traded which receiving more would likely encourage people to do so.

[brisk surge]

But it would mean more ILV would be burned and sILV is still only usable in game. It would basically increase ILV price

Max amount would still be 3 million, it would just mean sILV would be claimed faster, which would mean it would just burn faster i don't see the harm

[wispy ferry]

But would sILV reward enter a vesting phase in your scenario?

If not it would likely encourage whales to stake and dump because of the loophole of being able to sell sILV through Uniswap and Sushiswap

[brisk surge]

I have not laid out a strong plan yet. But I think the idea could be ironed out to become lucrative and just increase ILV burning. I don't think it would enter vesting phase. Maybe a lock up phase could be implemented to prevent dumping. And the token weight does not need to be as high as it is with time. Just high enough to entice people to do so.

[turbid drift]

Metamask so f***ing shit when claiming ILV from the SLV pool!! $100 of fee’s taken off and it didnt work!!!

[brazen egret]

Hmm what happened? Are you sure it's still not pending?

[brisk surge]

Just food for thought and maybe more smarter and people who have more time to spend on Illuvium can figure it out.

[turbid drift]

Nah it just claimed the ILV pool ones, charged me $100 and now the SLP pool is still full.

[storm cairn]

Only claim on desktop version of Metamask.

[wispy ferry]

I hear you.

[warm knoll]

just stacked again 2.2 SLP and had like 127$ fee ...
that hurts

[turbid drift]

Whens it getting fixed?? Went through twice and cost me $150. 2nd time claimed 0.000013 ILV

[storm cairn]

Metamask just sucks and is relying upon janky integrations on native mobile with web mobile. If you’re going to use mobile meta, use the browser inside of meta, but even with that the integration is not close to as good as the chrome plug in. I now only claim / process ILV transactions from desktop

[brazen egret]

Only 2nd time? 😛 i have like 5 of em

[storm cairn]

I had that happen twice a few months ago. I bet most on this discord have too. Chalk it up to learning, and never use mobile meta for claiming ✊🏼

[turbid drift]

I used chrome app and still messed it up! Yea lesson learned…only problem is a spilt a full starbucks over the macbook yesterday so its out of bounds🤣🙈 nice few days

[gleaming brook]

Wow I did not realize the staking APY dropped so much after not looking at it for a while

[craggy field]

They made an adjustment a few days ago where it shows the approximate apy over a year instead of the apy at that moment. This now takes into account the 3% drop every 2 weeks.

[gleaming brook]

Oh, thanks for explaining, more realistic. Although the previous one has more feel good factor 😄

[ebon vector]

Hey guys. If I claim ILV as sILV. How do I see it in my wallet?

[wanton field]

input the sILV contract address in the custom token section in your wallet

[ebon vector]

Is the sILV contract address on their website?

[wanton field]

it's pinned here somewhere

[cunning perch]

pinned messages 🙂

[ebon vector]

Thank you!!!

[earnest shell]

guys has been 2 hours since I clicked in stacking and accept the 98 euro fee

[cunning perch]

did you use slow gas?

[sand cloud]

I understood that the apy didn't account for the 3% drops that have already happened and they fixed that

[ebon vector]

Also when adding the custom token, is it 18 decimals?

[cunning perch]

yes it is. when you paste the address, it should fill the gap out immediately/automatically

[craggy field]

Yes i tried to say the same thing.

[ebon vector]

Mmm when I paste the address on trust wallet, it doesn't fill out automatically. Is that worrying at all?

[cunning perch]

hmmm....don't think so. but it's 18 decimals.

There u go. Just added to TW 👆

[ebon vector]

oh yeah, that looks like the one for illuvium, which worked for me, but not sILV

i have my meta mask linked to my trust wallet, I was able to successfuly import the sILV token onto metamask, so all good

[earnest shell]

managed to get it sorted. it was a little blinding option on my ledger

[forest current]

For Metamask, if you go to https://www.coingecko.com/en/coins/illuvium and klick on the MM icon top right, it will auto add ILV token 😁

[tall sapphire]

So what i'm gathering is these fees are ridiculous and lots are losing money not making in the pull out process?

[cunning perch]

What do you mean “pull out process”?

[sand cloud]

You n your dirty mind 🤣

[cunning perch]

Wait what? 😆

[sand cloud]

Or maybe I'm the dirty one 🙄

[cunning perch]

Haha I just realized after you mentioned it 😆

[cunning perch]

https://tenor.com/view/you-definitely-guilty-for-sure-you-did-it-im-certain-i-know-it-was-you-gif-15442364

[midnight belfry]

whens a good time to claim?

[cunning perch]

There are calculators that can help you in the pinned messages . Also you can claim when you are comfortable. 🙂 (taking gas/pending rewards ratio into account)

[dark bear]

Hi I asked this before but I just wanna make sure cause I don't have money for 2 gas fees. Is this gonna ask me for 1 gas transaction or more? It's withdrawing SLP

[cunning perch]

You’re gonna pay 2 gas for 2 tx (one for ILV pool and one for SLP pool rewards). This is the procedure

[vital kayak]

We staked 8 hrs ago, claimed sILV, and it only popped up gas $97 once . We freaked out that it didn’t stake but yep it claimed AND staked SLP with one gas transaction that time! Did something change? Usually shows 2 gas fees

[cunning perch]

We? 😄 you claimed after 8 hours? That was a very fast claim. Nothing changed. Staking new tokens claim rewards as well, so you pay a bit extra. But to actually claim SLP, u will be required to pay 2 gas for 2 tx

[quick dirge]

if that was their first claim, there was nothing to claim on ILV side, only SLP, right?? so there could be only one transaction

[cunning perch]

Well the moment you stake, after 15 secs you start getting rewards (however tiny). So you’ll always have pending rewards

[quick dirge]

but only from SLP

there was no ILV staking from claimed rewards

[vital kayak]

My husband (@exotic cargoiumnaut on twitter) and me, he’s more technical lol. And I’m tellin ya because we do this every time we add to SLP, it only charged gas once, claimed 2.6 sILV so we have 13 sILV now and our SLP went to from 4 to 6.57 SLP , all the numbers are right, only did one gas confirm at $97

[cunning perch]

So the new stake claimed your rewards. (Its like that: two birds one stone) but you pay a little extra gas for that. Now why it claimed sILV, probably you had done it before or somehow have chosen it.

[cunning perch]

Everything seems ok. Locked and loaded

[vital kayak]

Chose it (off land) but anyhow thought that change isn’t til V2

[sacred cosmos]

Seems like they only stake in SLP that's why

[cunning perch]

Hmm. no, there might be changes coming with V2, but not before that. So far it's been like the process you've undergone

[vital kayak]

What’s cool is with our new staking of 4 more ILV paired SLP for total of 6.57 SLP, we made the same amount of ILV rewards in exactly 8 hrs that took to earn from 1 ILV in normal pool in exactly 2 mos!
Now how that might CHANGE after V2 I’m a bit worrisome over tbh

[somber wyvern]

Can i stake less than 1 ILV

[vital kayak]

Yep!

[cunning perch]

V2 is not gonna affect the APY and unless you are locked on V1, no new rule will consider your tokens, By the time they are released (1 year from now) then you need to move them to V2. By then APY has decreased most probably and the REvDis you are receiving would be sufficient to pay for everything and more. I would say do not compare NOW with 1 year later 🙂

[cunning perch]

yes but the gas will kill you haha 😄 It won't be profitable if you do only 1

[vital kayak]

Ugh so confusing but ok thank you for Arash. Waiting for a YouTuber to break it down eventually. My early understanding was that we are grandfathered in but now I see chatter about it screwing over V1 stakers Rev Dis

[cunning perch]

Don't worry about it. First and foremost the proposal is not 100% approved and needs to be officially approved by the council. Second, since you have already staked on V1, your tokens are safe from any diversion or change until they are unlocked after one year 🙂 Until then, you will get RevDis, and YF rewards like normal.

[quick dirge]

you can start with this one 😉
https://www.youtube.com/watch?v=MwH0noF6QBA
@ripe steppe

[hexed bough]

To be clear when you claim rewards in sILV you don't have to flush the ILV pool, so you'll always get one tx

[cunning perch]

That needs to be updated as the draft has not been approved fully by the council

[cunning perch]

Thx for the clarification Carlos 🙂

[ripe steppe]

Yeah as @cunning perch said this is only my analysis of the first draft of v2 staking

It has not yet been finalised and is still being created, another document is coming soon that will be somewhat different so worth waiting to see with that

Regardless still very likely much better to stake right now as opposed to waiting to stake after v2 (nfa)

@vital kayak happy to jump on a voice call in dm’s if that helps ☺️

[vital kayak]

Love @ripe steppe video , but I seen yesterday the big argument over certain new changes in Rev Dis that was after he made that video

[vital kayak]

THANK YOU Carlos! Myster solved 😚

[quick dirge]

still i think good to watch (with changes coming in mind) to get some idea about how it will work. Plus no harm in putting some pressure on him to make new video faster xD

[vital kayak]

Thank you! You and my hubby chat on twitter he says. 😁 I just needed that cleared up because the FUD over early whales and if Rev Dis will be affected for V1 stakers because we all in based on how it was , this is our retirement tbh. Maybe a little Star atlas but nothing as much as we in on ILLUVIUM 🤩

[ripe steppe]

Not making a new video till the new document drops, since no new info is actually out, only people having discussions, once it drop a new video will drop shortly after worry not!

[vital kayak]

Literally watched it twice, took many screenshots of his amazing charts, and spammed it all over my Facebook and my private ILV OG telegram chat group 😉

[ripe steppe]

U da best ☺️

In conclusion, all is well, Illuvium is the best!

drops mic

[vital kayak]

Im GirlfightClub btw

[cunning perch]

looking forward to watching it 🙂

[lusty void]

yo, I guess the gas is around 100$ for all of us right, and I will have to pay for 2 gases, once when starting to stake and once when lclaiming/ unstake my assets??

[dark bear]

Thank you! I'm glad I asked, last person that answered me told me it was 1 gas transaction which seemed off to me after reading the message

[ripe steppe]

Essentially yes

[ripe steppe]

Theres also an Illuvium Ecosystem Transaction Fee calculator in the pinned messages of this chat if that helps (tells u the exact cost of every transaction involved in illuvium rn)

[lusty void]

thx alot, im watching the document right now, one more question if thats ok, the gas is the same for any size of transaction right? Its a bit sad rn I have 0.35ilv = 260$ that I want to stake but the stake fees would be like 160$ (80times2) so its quite unnecessarily for me to stake such small amount

[vital kayak]

Not financial advice, but if all things for V1 stay same and If you can’t add to your position, I personally would eat the gas and stake it just before V2 is implemented. My 2 cents regardless how small a position

[sand cloud]

Carlos you da man! I've been worried about having to pay insane gas fees but this helped me understand why there's only 2 transactions ^^

[compact elk]

Hi guys! I have some ILV staked in the regular ILV pool. It’s NOT locked now. Can you pls tell me how much in fees I would pay to withdraw it to my wallet?

[cunning perch]

hey. you can see the exact price in $ before you confirm the TX on your wallet. (should be sth around $70-100 rn)

[languid dock]

I get a significant amount fairly quickly. The earlier you claim, the earlier you get a year from now

[compact elk]

Wow, I heard about crazy fees on Ethereum, but I didn’t think it’s that bad. From your experience, is there a chance for a lower fee if I do it in another time of the day? Or is it pretty much the same regardless?

[sacred cosmos]

Best day is Sundays from what I hear and 3-7pm (+8gmt)

[compact elk]

hmm, alright. thx for the tip 😌

[cunning perch]

yeah best days so far have been the weekends. 🙂

[true urchin]

Hey guys, I want to claim my staking rewards on https://staking.illuvium.io/rewards (CLAIM ILV) but I always get an error sign with an exclamation mark, although my hardware wallet is connected. I don't even get the chance to fill in gas to complete the transaction.. Does anyone know what to do? Thanks in advance

[cunning perch]

Hey. Make sure you use the latest update (on all devices and browser), make sure your "contract data" on ETH is ON (if using Ledger).

[true urchin]

Im am using Trezor and just downloaded the latest bridge. Google chrome also latest version (worked perfectly like 2 weeks ago)

[cunning perch]

Check the ETH app on it and go to setting. If there's any "contracr data" (or any name close to it) is off, flip it to ON. and make sure you're using the latest brosers

[true urchin]

I'm using My Ether Wallet. Let's try with Mozilla Firefox. Thanks for the support!

[cunning perch]

No worries. Hope it works out for you.

[true urchin]

Damn, same issue with FireFox 😦

[cunning perch]

Hmm…Unfortunately idk how Trezor works, but usually issues are with wallet (both device and app) and browser update. 🤔

[vital kayak]

Here’s something I don’t know: do rewards stay the same throughout your staking period or do they decrease over time?

[cunning perch]

YF rewards? They decrease. Reward distribution decreases 3% every fortnight (2weeks)

[true urchin]

It finally worked! FYI: I connected my trezor to metamask so was able to approve the transaction through metamask instead MEW...

[cunning perch]

Ah i thought u were already using MM. yeah, MEW doesn’t work like that.

[true urchin]

Yeah but the option is there to use it so it maybe schould be removed... anyway, I'm glad it worked out. Thanks again cu

[cunning perch]

Glad it worked out 🙂 (it was probably not compatible with Trezor. But at least it worked out)

[brisk surge]

what are the rewards?

[cunning perch]

YF rewards: ILV and/or sILV

[molten thistle]

Here are last week's avg hourly gwei, to give you a general idea of when are good times to try. This is EST.

[brisk surge]

sorry, i meant the apy

[cunning perch]

you can always connect your wallet to the staking website and see what they are at. 49% for ILV and 399% for SLP

[brisk surge]

okey thank you, before u mentioned that 1 ilv isnt worth it. at what amount would you say its worth it to stake?

[cunning perch]

any amount that justifies paying gas for the approval, staking and each reward claim. 🙂 right now if you wanna JUST stake, you will be paying something between $100-150

[brisk surge]

okey thank you

[vital kayak]

One of my ILV private chat group members shared this amazing gas site , it’s genius! https://txstreet.com/v/eth

[granite wigeon]

hey guys. how do I send illuvium from binance to metamask? ethereum mainnet?ERC20?

[cunning perch]

yep. make sure you add the token address to MM to be able to see it

!contract

[woven ibex]

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

[granite wigeon]

thank you!

[silent cedar]

What are people paying in transaction fees right now when they claim ILV rewards?

[cunning perch]

Every fee is in form of gas and gas is always ETH

[silent cedar]

I mean how much.

[cunning perch]

Rn its something around 70-100 and varies by the second

[boreal cape]

Hello Stakers! One question. After unlocking my SLP. I will be able to get the SLP token, right? Do you guys know where to check SLP prices?

[silent cedar]

Ok, that's the range I'm in. Just making sure I'm not crazy.

[cunning perch]

You can see the exact amount in $ in your wallet before confirming

[cunning perch]

You can check the SLP price on Zerion. I’m on my phone otherwise i would have sent to you. Google ETH ILV Zerion

[pale trellis]

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

[boreal cape]

Ok I’ll try that. Thanks a lot!

[cunning perch]

No worries. Thx @pale trellis for sharing the link

[boreal cape]

Thanks!

[pale trellis]

All good. I’ve got it saved in notes. Comes in handy as I’ve been staking each week and helping friends stake 😁

[cunning perch]

Such a Great community. I’m proud of you 😄

[pale trellis]

I’ve added just over $100K AUD to the MC

[cunning perch]

Please don’t stop lol

[pale trellis]

Haha I’m good for now. I’ll keep on showing friends the door. Most of them get back to me after a week of research with staking questions. I get random calls that usually start like this “Hey man, so I have ETH in my metamask...”

[cunning perch]

Well….now you know how busy we get sometimes 😄

[edgy lichen]

Where can we view the ILV and ILV / ETH pools?

Oh wait nvm lol

[cunning perch]

On the website ofc 🙂

[edgy lichen]

Okay let me see if I got staking straight. We get ILV. We can then stake that ILV to the ILV pool where we can earn rewards in ILV or sILV. However, we can’t use those stake rewards for 12 months because of vesting? Do I got this right?

[cunning perch]

!claim they will start vesting for a year AFTER you claim them 👇

[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.

[edgy lichen]

Whoa these are some really interesting tokenomics. It really incentivizes keeping ILV within the community and really rewards long term gamers / users

[cunning perch]

Yep. You won’t find better tokenomics in the market 🙂

[edgy lichen]

I’m sold lol. I’d like to provide liquidity to the ILV / ETH pool. Once I do that I’m given SLP tokens which I then stake into the Sushi LP pool and am rewarded with ILV or sILV right? Same vesting mechanics apply on those rewards right?

[cunning perch]

!lp can show u the full 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

[edgy lichen]

I swear I’ve watched like 10 videos on IL but that one was first where it all actually clicked hahaha

[cunning perch]

Glad it helped. Also make sure u know this

[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.

[cunning perch]

Just a bit more hype for the day

[final steppe]

🤩

[edgy lichen]

Another question, when we go to stake out ILV or SLP will we be staking on the ETH main net or an L2? What about for claiming? I’m trying to consider the gas fees

[midnight crow]

"ILV rewards are subject to a 12 month vesting period. While they are vesting they compound your rewards." - What does the second sentence mean? Where do the rewards from the rewards go? Back into the same reward pool or is another reward pool created for these rewards of rewards?

[brisk surge]

There will be gas fees for claiming. Claiming the SLP pool also requires the ILV pool to be claimed so its 2 transactions. Theres a fee calculator in the pins that can help you estimate how much the fees will be.

[brisk surge]

The vested tokens are staked in the ILV pool for 12 months. All the rewards from the ILV pool collect together and can be claimed together. Because you will always have locked rewards generating more ILV you will keep compounding rewards till staking ends.

[midnight crow]

So the rewards of the rewards do not have to vest 12 months from when they were created, but from the 12 months from when the original reward was claimed?

[brisk surge]

Whenever you claim, the 12 month vesting starts for those claimed tokens. Each 'batch' will have its own vesting timer.

[edgy lichen]

Staking will end once all ILV is distributed right?

[brisk surge]

Staking distributes 3 million tokens over 3 years. It started in July this year. The emission rate starts high but the amount distributed falls by 3% every 2 weeks.

[midnight crow]

Maybe I can understand better with an example. I just (10/16/21) claimed 1.9 ILV that resulted from rewards from SLP staking. These 1.9 ILV are in a pool that is locked and receiving the 2.0x ILV pool rate (right?). Let's say after a month they have produced 0.2 ILV in rewards. So, do these rewards live in the same 1.9 ILV pool making it by 11/16/21, 2.1 ILV where all the 2.1 ILV can be removed 10/16/22?

[edgy lichen]

How often are rewards distributed?

[brisk surge]

something like every 15 seconds.

[brisk surge]

Maybe I can understand better with an example. I just (10/16/21) claimed 1.9 ILV that resulted from rewards from SLP staking. These 1.9 ILV are in a pool that is locked and receiving the 2.0x ILV pool rate (right?).

Yes

Let's say after a month they have produced 0.2 ILV in rewards. So, do these rewards live in the same 1.9 ILV pool making it by 11/16/21, 2.1 ILV where all the 2.1 ILV can be removed 10/16/22?

The rewards the ILV pool is producing will not start compounding until you claim them. When you claim, the rewards enter the ILV pool begin their 12 month vesting.
So you have 1.9 that unlock 10/16/22 and then the next ones unlock a year after your next claim.

[midnight crow]

Ok, then it seems like it will create a sort of tree which branches at each claiming. Each branch getting diminishingly small. And after a while the branches are so small that they are not worth the gas fees. Is that a reasonable statement?

[brisk surge]

No, When you claim rewards it will only ever be 1 transaction for the ILV pool and 1 for the SLP pool, It will claim the rewards from all of your staked tokens at once, regardless of how many different stakes you have.
So just wait until the reward amount is enough to justify the gas.

[midnight crow]

Ok, so that is interesting. Could you explain what happened to me today? - I have 0.65 ILV in the ILV pool and 0.5 SLP in the SLP pool. Today I had some more money and so wanted to add SLP to the SLP pool. So, I purchased ILV on Sushi swap ($41.80 gas) and created SLP on Sushiswap ($56.06 gas). Then I staked the 0.62 SLP ($91.91 gas) which meant I needed to claim the ILV I had from the ILV pool (0.03 ILV) and the SLP pool (1.96 ILV). I was charged 4 gas fees to "process rewards" in metamask: $53.70 gas, $39.27 gas $51.25, and $62.92 gas. When I look at the pools in the vesting tab, I now see 3 deposit pools (0.65 ILV in the ILV pool, 0.5 SLP in the SLP pool and the new 0.62 SLP pool) and 5 reward pools (1) 0.03 ILV claimed rewards from the 0.65 ILV pool, (2) 1.96 ILV claimed rewards from the 0.5 SLP pool, and 3 miniscule reward pools (0.00018 ILV, 0.0000068 ILV, and 0.0000038 ILV). Could someone please explain what happend????? Was I charged too many "process rewards"? If so, how do I avoid that in the future?

[molten thistle]

To stake, all currently available rewards have to be claimed. When you claim SLP rewards, ILV reward has to be claimed first, so it sounds like it claimed your ILV and then SLP rewards, and then staked.

[molten thistle]

Staking will still be available, but after yield has run dry, it will only be for RevDis

[brisk surge]

The 0.0000068 ILV, and 0.0000038 ILV are super small amounts, Did you claim your rewards from the SLP pool before staking the new SLP?

[midnight crow]

I did not claim rewards before starting the staking process. Here is what I did... I followed the staking pinned video. I went to staking.illuvium.io/staking/core. I pressed "Stake". I chose the 2.0x Locked and clicked next. Then it passed me to claiming rewards and I claimed rewards as ILV. This page of the interface said I had to claim rewards before staking. It then sent me to metamask. I pressed "continue" each time. Metamask even had a "process rewards" after the SLP was showing as staked in the staking.illuvium.io interface which I thought was weird.

[devout pollen]

Whats a good stacking amount to counteract extremely high fees?

[fallen kettle]

Hey so on videos discussing revdis, I've heard people say that every 1 token staked in the SLP will return us around $60. Is this a yearly return or monthly etc? Thanks

[royal solstice]

There is no known amount revdis will be. Until money is brought in via steady revenue, it’s impossible to know for sure.

Revdis will both give you unlocked ILV you can sell, and drive up the price of ILV (as it’s bought to provide). What that’ll actually be… 🚀🤷‍♂️

[brisk surge]

It sounds like for some reason both pools were claimed twice. I haven't heard of anyone else experiencing bugs with the staking UI but if thats what you think happened @hexed bough would be the one to talk to I think.

From what you described it sounds like you did the correct process but there should have only been 2 process reward transactions, not 4

[midnight crow]

Ok. Thank you. I was just following metamask and it kept putting up the gas fee transaction interface and I kept pressing continue. I never pressed a claim ILV button on the staking.illuvium.io interface.

[molten thistle]

It's still speculation at this point, but the most believable numbers I have seen are $100 per ILV token per month, per million players.
For SLP, you only get revdis on the ILV portion of that.

[drifting dew]

Ilv will be worth way more than 10k per coin if that's true

[molten thistle]

I haven't really got plans to pull out and sell my ILV unless an emergency comes up, I am looking for long term passive revdis income from the franchise for 15 or 20 years to come

[lilac coyote]

Is there any way to check how much sushi LP rewards you’ve accrued so far

[molten thistle]

https://staking.illuvium.io/dashboard

[drifting dew]

I'm so torn right now between this and treeverse haha. I'm bullish on both and have to split my investments.

[brisk surge]

That would require each player to generate almost $1000 a month in ETH for the vault. I highly doubt people will be bringing in that much money.

[drifting dew]

I'm just trying to get 10 ilv before the game gets released 🤣. I wish I got 100 though. If only I knew about this earlier when it 30 bucks a coin

[molten thistle]

I haven't really looked at much else. I'm pretty confident that illuvuim is going to change the world, be among the first / top in this new industry.. be the Spacex of the blockchain gaming world.

especially when they have 10 games out, several movies, tv series, etc.

[brisk surge]

we gonna be rich just from rev dis alone

[molten thistle]

Going to retire on my staking

[brazen egret]

I entered with an initial investment of just 3k. Imagine retiring after an investment of just 3k

[drifting dew]

How many ilv is that?

[brazen egret]

3k for 17 ILV and 1 ETH

[drifting dew]

I feel like 50 ilv is a good number to retire on if you keep staking

[molten thistle]

My initial 5k as become 13k in about a month, cant wait for the real money to start rolling in next spring

[ornate kiln]

Hi Everyone. I need some ideas. I completed a test stake in ILV Stake. After completing the stake a few days later and enjoying the process. I went to input my actual real stake amount, but ILV stake is stating, I need to withdrawal my ILV rewards (0.01) to add a new stake. Anyone ran into this ? Any solutions?

[brazen egret]

But now after staking for 3 months i have 40 ILV from rewards

[drifting dew]

If ilv keeps going up year after year, combined with staking, and rev

[drifting dew]

Damn, you prob got high percentage

[ornate kiln]

Did you Sushi or ILV and which staking options did you use?

[brazen egret]

Sushi gave a 10x for me

[molten thistle]

Yes you have to claim any current rewards in the staking process of adding more.

[drifting dew]

Holly how

[brazen egret]

For joining early. Entered at $100

[drifting dew]

Nice man. Is it safe though? Right now is like 50% isn't it. Ahhh ok

[molten thistle]

I got just short of 2 SLP to start, locked for 52 weeks

SLP gives best ILV rewards, and the ILV that adds up will pay revdis.. and are also appreciating in value themselves. When I got in they were about $500 and are $730 right now.

[ornate kiln]

Thanks Kaiotee, problem is my staking is so small. I can Sushi, I guess, If I sushi, do I just need ILV or Eth or both? Unsure on how that works/

[lilac coyote]

Lol, no the LP fees

[molten thistle]

ohh. I haven't actually l looked that that. At first I was told I wouldn't get any because im staking in illuvium instead of sushiswap, itself.. but then I heard that we do actually get that once we break out SLP tokens back into eth/ilv.

[molten thistle]

Yeah the SLP is 50% ETH combined with 50% ILV into sushi liquidity token. Reguardless of how much $ value you are entering, it will probably run about $250 to $300 in gas fee for that whole process of adding the ETH to ILV and then staking.

[mighty shoal]

So, i have 2 ILV now.. i would like to stake.. or maybe get a couple more shortly and then stake. I would have to get sushi or slp Nd transfer it over to then stake it correct?

[ornate kiln]

Thanks Mate! Super helpful!!!!

[brazen egret]

:o are u another aussie?

[brisk surge]

The fees collected for transactions in the LP are added into the pool. So you dont ever 'claim' your rewards, they just increase the value of your SLP token.

[molten thistle]

You can stake straight ILV, but the yield rewards are minimal, this would be more for long term revdis. If you are looking to get more ILV from yield, save those untl you can match their value in ETH and convert them to SLP and then stake.

[lilac coyote]

For 2 ILV should just stake in the solo pool

[brazen egret]

Ye slp not worth the fees for that amount

[lilac coyote]

For 2 ETH you’re spending around 20% of your investment just establishing the position.

[molten thistle]

I think 1 SLP is something like 2.5 to 3 ILV and the other half ETH

[lilac coyote]

Then 10%+ every time you claim

[molten thistle]

1 SLP should net you 1 ILV in rewards every 15 days or so

2 ILV would net you 1 ILV reward in 8 or 9 months

[lilac coyote]

Now but not in 3-4 months. It is decreasing. Rev dis is equally weighted (more or less)

[molten thistle]

It does decrease over time, just making the point that if you are looking for ILV as yield rewards, SLP is the way to go. Staking just ILV is more for revdis in the long term.

[lilac coyote]

So you would spend 20% of your investment to stake then 10% every month to claim?

[molten thistle]

to make 1 SLP it be about 4k, $250 is not 20% of 4k, its more like 8%

[brisk surge]

Yeah i would agree that $1400 is pretty low for the SLP pool.

[lilac coyote]

He’s got 2 ILV tho.

[brisk surge]

with this your not even putting in a whole ILV coin

[livid light]

if you stake then land revdis comes will be a little bump but overtime more will come

[molten thistle]

and you dont have to claim every month. Getting those extra ILV stacked up claiming isnt really getting you enough yield to cover the expense really.

[frozen oyster]

Claiming slp rewarda takes 2 gas transactions compared to single ILV pool right?

[livid light]

unclaimed rewards do not count toward revdis

[molten thistle]

Thats why I said save up for eth to match and make SLP though, instead of just staking the 2 ilv now.

[brisk surge]

for every time after the first yes as you will have to claim the ILV pool too

[lilac coyote]

$10k is minimum for SLP to make it ‘worth it’ to compound at least monthly. Haven’t done the calculation tho in a few months

[molten thistle]

Claim just before land sale, then claim next just before game launch. Dont have to claim every month

[livid light]

correct but they are going to do a date from my understanding so people cannot put 10 million in ILV a day prior to sale get the revdis and sell 🙂

[lilac coyote]

Gotta keep it simple and relatively low cost for people investing small bags into this at this point. Solo pool will be just fine.

[brisk surge]

I dont know about $10k lol. I think $3000 and up is enough to do SLP. Though you might be right and claiming like every 2 moths would be better for smaller amounts.

[brisk surge]

when rev dis comes out this will be a different story

[lilac coyote]

I hope so

[livid light]

if I stake more SLP I have to claim correct?

[brisk surge]

Yes, both pools if they have rewards.

[molten thistle]

It will claim for you in the process, but yes it gets claimed.

If you claim, then stake, and more rewards have accrued, it might auto claim them both again for miniscule amounts

[livid light]

up to 25 ILV tokens from rewards

[brisk surge]

I wish

[livid light]

Pool was at 640% when I started lol

[brisk surge]

Total or since you last claimed?

[livid light]

since last claim for ILV still have 20 sILV tokens... holding tight for price of land

[brisk surge]

dang we got a whale over here

[livid light]

I am thinking T3 about 50k honestly to start

[drifting dew]

What's slp again? Every 15 days? How

[livid light]

I put in 28k at the start in SLP Pool that is it

[molten thistle]

SLP is at nearly 400% APY, raw ILV is under 60

[brisk surge]

cooked ILV

[livid light]

and at that time it was 640% APY

[molten thistle]

I have just under 2 SLP and I get 1ILV in yield reward every 8 - 9 days right now

It was 7 days per ILV when i started, but that was 535% yield, so it's slowing down.

[drifting dew]

What is slp again?

[livid light]

ILV/ETH token

[molten thistle]

It is Sushi Liquidity Pool token.

[brisk surge]

you put in equal amount of eth and ILV so say 600 of each and you get out the liquidity token SLP

[drifting dew]

Ah let me check sushi then thanks!

Damn well my ilv is staked so I would need more 🤣. I would also need eth lol

[molten thistle]

Here is an excellent explanation
https://www.youtube.com/watch?v=7T2WzeXWC4k

[drifting dew]

Thanks so much guys! Any chances that we lose the ilv and eth? Lol

[livid light]

always a chance 🙂

[brisk surge]

there is impermenant loss

[molten thistle]

I believe in Vetemor so strongly, and love his explanation videos so well, I have littered my bio with his channel lol. Watch his videos, all of them.

[livid light]

welcome to Crypto! The wild west of investments

[molten thistle]

Then you will be in here answering instead of asking 🧠

[brisk surge]

yeah ive also watched them all, very good videos

[drifting dew]

Is this right? That's just an example. I just put in random numbers.

[brisk surge]

yes

[drifting dew]

I'll watch the vids later

[livid light]

50/50 pool but the price of ILV and ETH keeps going up!

[drifting dew]

Basically once I click approve, you're telling me I can prob get 1 ilv every 7 days ish?

[brisk surge]

I would do the calculations before you do that, dont just do it cause someone else said this could be the case

[molten thistle]

That will be more than 2 SLP though, so very likely every 6 or 7 days. I would double check the math if you want exact numbers.

[brisk surge]

and understand the risk that you are taking on when doing this

[molten thistle]

for me, at 1.8 SLP, i've gained .64 ilv in 5 days. so looking a tad over 8 days for a whole ILV

[maiden peak]

When you stake LINK to a flash pool, how do you get the Link back to your own wallet?

[frozen oyster]

If this is how much youll be putting in then SLP will be worth it, for smaller bags you have to scroll up and check for the additional gas costs and ezpenses associated with SLP and make sure it doest eat up too much of a chunk of the cash u have for investing

[edgy lichen]

Is it possible to bridge ILV to polygon and stake in the ILV / ETH pool on Sushi using the polygon network

[proud moth]

no

[sonic lotus]

I am in the exact same situation

[floral widget]

Better support him, the poor guy just spent 150 on gas to buy 1 silv for the video, that's like 50% of the price

[molten thistle]

$tip @ripe steppe 25 doge

[winter sparrow]

@molten thistle sent @ripe steppe 25.00 Ð (≈ $5.94).

[molten thistle]

I'll at least buy him a beer for now lol

[ebon vector]

Can someone describe to me impermanent loss involved with the sushi LP pool

[molten thistle]

As the two coins' values diverge, Imp Loss is the difference that they are worth as a pair vs the value they would be independently.

As the y differ, one has to be traded for the other to balance them out to keep them at 50%

[ebon vector]

Mmm ok let's use ILV: $500 and ETH: $3000. You staked 6 ILV and 1 ETH as a pair

In a year's time ILV is $1000 and let's say ETH stays the same so it's still at $3000

Would not be taking out of the liquidity pool, 6ILV now worth 6k and also taking out your 1 ETH worth the same

[molten thistle]

At the end of that your SLP would be 4.5 ILV and 1.5 Eth so keep them 50/50

[clever swan]

IL is just keeping the original ratio that was set in dollar amout

[silent cedar]

https://youtu.be/8XJ1MSTEuU0

[summer heath]

Impermanent loss is scary. but it's way more scary when your in a pool where one of the tokens your not very excited about. In the case here Im excited about both ILV and ETH so the impermanent loss isn't to scary to me. its like a win / win. The only scary part would be a pool Hack which is always a small possibility when staking

[magic ledge]

Hi I just wanted to add extra to my existing LP pool. I went to ILV staking and it wanted me to claim rewards, I just did and paid $50 for that. Now staking is charging me $110. That is double the current price, is it normal

This is outrageous fees for staking to existing pool

Well the question is why it is double the current gas price

[proper lion]

Hi guys, so I'm trying to stake some ILV but my MM says 'insufficient funds' when I try to pay gas fees even if I have enough ETH to pay the gas. Anybody knows what that could be? I'm just trying to figure if having acquired ILV on the Sushi Swap I maybe need to do some other operation?

[sonic lotus]

This was a great video! Thanks!

[magic ledge]

Can someone please answer this

[summer heath]

I'm not 100% sure what happen but i do know gas fees fluctuate in seconds. I usually use etherscan gas checker

[magic ledge]

Bro it's not the gas fees, the transaction seems to be charging more

[summer heath]

https://etherscan.io/gastracker

[magic ledge]

I know eth scan, it's just charging double at staking website

[summer heath]

Ooooo. I see. Im learning as well so i don't know the answer. perhaps someone else will know in here. sorry brother

[magic ledge]

It's not the current price

[sacred cosmos]

Claiming is usually cheaper than staking. So thats normal. And whenever you stake new you need to empty out your rewards.

[magic ledge]

I already empty my rewards man and paid $50 for that

[agile fiber]

You claimed SLP rewards, right?

[magic ledge]

Yes

[agile fiber]

Yeah so theres two gas fees associated with that

[magic ledge]

Now staking slp

[agile fiber]

Sorry I meant staking in SLP there is two gas fees when you claim. One fee is to claim SLP rewards, second fee is to claim rewards in ILV pool.

[magic ledge]

I understand. What I have done is add liquidity, it said claim rewards, I claimed and paid $50. Then it went to stake and now charging me $100

So this$100 is normal i.e. double the charge

[agile fiber]

So you clicked on 'stake' for SLP pool and then it said you had to pay $50?
Or you clicked on claim rewards first? and then tried to stake?

[magic ledge]

Note that I had rewards in ILv pool as well. I clicked on stake, it said claim rewards, I did and paid $50. Now it is at stake and asking double

[sacred cosmos]

Yup sounds normal to me.

[agile fiber]

No. So the $50 was to claim ILV pool rewards, and the $100 is to claim the SLP pool rewards

[magic ledge]

So intial $50 was ilv pool claim, now it is double for slp claim and staking in one transaction?

[agile fiber]

Next time you claim, read the transactions in your meta mask or whatever wallet you are using. You can go back and probably see what it charged each charge for

[magic ledge]

So it's normal i.e. 2 transactions in one

[distant roost]

Hey all. I'm new to Illuvium. What is the easiest/best way to stake? Do I use a core pool?

[brisk surge]

!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

[brisk surge]

Check out the video at the end it will explain it all to you in detail.

[distant roost]

Thank you!

[magic ledge]

Cool cool cool cool cool thanks guys

[brisk surge]

You have both ILV and ILV/ETH those pools are both core pools

[agile fiber]

For right now, yes. But they are going to implement this new V2 contract that should eliminate that, but don't quote me. Someone more experienced can clarify

[summer heath]

100

[magic ledge]

It's 2 transactions in one. l love his group

[brisk surge]

Yeah v2 should help a lot with the current cost of transactions.

[summer heath]

Yea man, thats a good video. if your still confused everyone in here is willing to help you through it

[royal solstice]

Not a crypto expert. But as I understand it, Staking is a more complicated transaction as it is using the v1 contract. That is going to just cost more gas than a swap.

[distant roost]

Thank you appreciate it!

[brisk surge]

I staked more SLP today ended up costing me around $85, plus another transaction for claiming my previous rewards to add to my SLP

now let's say you have already been in the staking platform then it's going to cost you an actual x amount depending on how many times you have been claiming until v2 comes out.

[agile fiber]

@brisk surge @magic ledge Just thought of this. I think it might cost more fees if you claim rewards THEN stake. But if you just click on stake for SLP pool, then it auto claims rewards. So doing it that way you either save on fees a little, or its just more convenient.

[proper lion]

anyone knows this one?

[brisk surge]

So if you were new to to staking as in a fresh wallet it wouldn't cost as much as adding more SLP or ILV to the pool because then you have to claim your current rewards in order to do so.

[agile fiber]

Yeah but if its your first time staking, then you have the one time fee to interact with the contract.

[summer heath]

Thats a tricky one. maybe try staking a little less? and leaving some extra spare eth?

[brisk surge]

It means you need more ETH for the transactions

[brisk surge]

Yes sir

[agile fiber]

Sorry, my response was more so geared towards Ali Malik. Shouldn't have tagged you

[indigo plover]

Hey guys, whats the current apy for staking ILV ?

[summer heath]

49% / 400% for locked . you can go to the staking on the website though and check for unlocked

[calm meadow]

Hey guys - I may be a retard but I'm trying to stake to the Eth-ILV liquidity pool. I'm not seeing on the site how to combine my Eth / ILV to a token. It shows my ILV on the staking, but can't figure out how to make the liquidity token.

I can do it on Sushi but I'm not sure that's going to translate over & work on the illuvium site

[summer heath]

If you click the little (i) in the Sushi LP pool on the main page it should bring you to the correct sushi LP pool in order to get SLP. than the second step is to stake the SLP on the website.

[calm meadow]

ah perfect - thank you

[summer heath]

you also have to add SLP token to your meta mask

[calm meadow]

thank you!!!

[summer heath]

etherscan should have the address for your sushi LP token once you get in the pool in order to add it to your mask. Somoenone in here may have it im sure if you cant find it

[midnight belfry]

what does weight mean in steaking

can we use $1 as an example?

[summer heath]

if you do a full year you get double the %. so its weight is double APY. if you do no lock up than its 0 weight so single apy. and everything in the middle is adjusted as so

[midnight belfry]

I see

[brisk surge]

You're fine

[midnight belfry]

so the longer you stake the better

[agile fiber]

Yes. If you stake for 1 year you get a x2 weight

[summer heath]

Risk / Reward. more reward... more risk because your locking your funds up. some people do 50/50 or try to time a market peak. others are in for the long haul. others are just in for a short term. it really depends on your own ideals and risk managment

[midnight belfry]

fair. Say I wanted to add more money into my stakes do I lose my bonuses?

[summer heath]

You can only pull funds early if youdon't put it in a locked pool

[midnight belfry]

so In other words if we're in for the long haul and this project flops. You lose everything?

[summer heath]

No, you claim them and those funds claimed you can lock back up for the 50% apy pool

[midnight belfry]

but when you claim you dont get it after 12months ay?

[summer heath]

its like Yield on your Yield

Yes.

[midnight belfry]

so for example I claimed $100 worth of ilv's that goes somewhere for 12 months

[summer heath]

SILV you can have imediatly. ilv you have to wait a 12 month vest that locks up for an apy which you can see in the vesting section

[midnight belfry]

and does vesting contribute to more gains?

[summer heath]

Im sorry. It shows up in rewards.... yes. if you clim it in ILV it will vest out for 50% apy that gos down i believe 3% every 2 weeks. if you claim sILV than i believe you can have it right away

[midnight belfry]

so to recap. If I invest 1 ilv for 12months. after 12 months that 1 ILV will = to 2 ILV because of weight?

[summer heath]

https://www.youtube.com/watch?v=7T2WzeXWC4k&t=59s

[distant roost]

Ok so I have my SLP and I'm ready to stake but it keeps conncting to the wrong meta mask account in my wallet

[summer heath]

this is the best explination. he explains it way better than i can

[midnight belfry]

are we getting any yield distribution atm? or do we have to wait till game launch?

[summer heath]

good question,..... I think its launch but i not 100%. Im thinking launch is first quarter 2022

[safe rivet]

wow did just make a silv claim for only 30 bucks 😆

[summer heath]

Also yes it gos into 2 weight. Yield on Yield. Its bananas how good of a deal this is

[magic ledge]

I think you better click stake and auto claim

[agile fiber]

There was $50,000 from a colab called DRACE. It won't be distributed until V2 contracts are released, I believe. Then we will have distribution from the 5 different land sales, then game launch.

[brisk surge]

Theres only gonna be one land sale before launch.

[agile fiber]

Thought there was 100k total plots, 5 sales with 20k plots per sale??

[brisk surge]

I think thats the plan but only one of them will be before launch.

[agile fiber]

Oh gotcha. I mixed up when the will happen. That makes sense.

[summer heath]

haha, man i wish i didn't sell my Drace.

[brittle girder]

Why is the SLP % so much higher than the standard staking pool?

[summer heath]

SLP is a 50% eth 50% ilv stake pool to provide liquidity inside of sushi swap. it has a higher risk so it gives a higher reward.

[brittle girder]

How is staking risky?

[summer heath]

Impermanent loss. meaning if one coin go's up higher than the other you will get back less of the other coin at the end of the stake pool. Additionally there has been stake pool hacks etc in the past. I was involved in an X-token pool that got hacked. luckily i was able to get out of it. but that was definitely riskier than the SLP pool which I am in. got to risk it to get that cheese bro. but in doses for sure.

[brisk surge]

How you get out of it?

[summer heath]

Just dumb luck to be honest. I think 1 of the pools i saw got hacked on the news feed. I got out and than a few weeks later another one of there pools I think was hacked. I don't go in heavy on these liquidity pools but there fun to do a bit in to get that sick APY

Best bet is to break up your meta mask down into multiple wallets for each investment incase of a hack. its the wild west out here man so you got to be safe.

on the other hand. Illuvium is a multimillion dollar company with huge investers and a huge staff so i feel super safe

[brisk surge]

The majority is transfered in ledger and taked out when needed.

[brittle girder]

Sounds like it should be called permanent loss 😅

[summer heath]

ughhhh. yea I have to do that as well. hopefully when V2 comes out it will be easy for me to do. Im not sure that i can move from my meta mask to my ledger right now if im in

[summer heath]

hahahah 100%

[summer heath]

do you mean the company does this? or is this a personal stratagy that you use? sorry i got confused

[brisk surge]

I do it

[summer heath]

how could i do this? is there a rout?

[brisk surge]

No, i mean, when i have to much founds free in the wallet, i transfert it in the ledger, like cash and a bank account. Not many cash in the wallet and when needed take cash out of bank

[summer heath]

Oooo I see what your saying now. I thought you meant within the ILV stake pool you did it.

[brisk surge]

Nop for that you have to take the risk

[summer heath]

absolutely. in that case i do exactly the same as yourself.

[brisk surge]

Is there a point to locking in the core pool if it decreases 3 percent every Fortnite

[brisk surge]

You become rewards, even if it is a little bit, each token you become, you become it without work. And also you become revdis with it.

No but for locking doesn’t it very quickly drop below the default levels in the ILV pool

[summer heath]

all pools drop 3% every 2 weeks. even non locked

[arctic harbor]

Hey if Illuvium significantly goes up in value during this bull run, and if we have some staked, do we benefit at all from the increased value? I'm just staked in the ILV pool not the SLP.

[molten thistle]

Your revdis benefit will matter more how many you have staked and not their value. However once your staked tokens unlock, should you decide to sell them, their increased value would give you profit. The Vault will always be buying them to distribute to stakers, so there will always be a hungry market.

[gloomy gazelle]

Yes and no. Your staked ILV will be earning just the same amount of ILV regardless of price movement. But if the price goes up your deposited tokens and earned tokens will be worth more.

[arctic harbor]

yeah, still unclear on how revdist works or when I should see those benefits and then there's compounding. So far I've only seen small gains, $12.81, but I've only had it staked for less than 2 wks. I'm guessing the longer it stays locked, I will start to see increased returns based on revdist and compounding?

[molten thistle]

compounding is for yield, getting more ILV tokens as reward. It's a thing, but not really too substantial unless you really have a lot staked

[gloomy gazelle]

Your reward return does not compound until you claim it.

!claim

[woven ibex]

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

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

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

[gloomy gazelle]

!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.

[molten thistle]

revdis is after the game is live, 100% of the money it takes in will be distributed to ILV stakers

[gloomy gazelle]

There should be revdis from the land sale as well. But how and when it will be distributed will be special.

[molten thistle]

The original land sale really a one time deal in my eyes, I don't really consider it the same as when the game is bringing in live revdis 24/7 so I tend to speak accordingly lol. My bad

[gloomy gazelle]

https://tenor.com/view/yes-wink-gotcha-you-tube-thanks-gif-19039548

[molten thistle]

I think my revdis from the first land sale will pay for the gas of my next Staked bag 🙂

[arctic harbor]

"Revenue distribution is paid out in the form of unlocked ILV" <-- where would we see this? Same place as staking rewards?

[molten thistle]

I think so, yes. On the dashboard

[gloomy gazelle]

It’ll be on the staking website yes.

Maybe in its own tab. We will wait and see.

[molten thistle]

@arctic harbor This is when I really understood the vastness and longevity of revdis
https://youtu.be/QY_NQeNVfsI

[tough shoal]

Literally just watched this. I look forward to what the future may hold!

[arctic harbor]

Love Vetemor's vids, will take a look at this one.. btw, all i see in the 'Rewards' tab on the staking website is the apy rewards, so hopefully it'll be more clear where we would see the revdist rewards and whether they're separate or included..

[molten thistle]

Reading all the things is cool, too, but Vetemor just has a knack for explaining it all

[molten thistle]

They are giving out our first revdis, from the DRACE sale, once V2 is functional and active. That's when we should see it on the dashboard or it's own tab. A month maybe? ish

[arctic harbor]

says right there in same screenshot, ""while they are vesting, they compound your rewards"... got it so compounding doesn't start until you claim your rewards, which begin the 12 month vesting.. for each time you claim rewards.

[arctic harbor]

that'd be great, would like to see it's own tab or button to distinguish it from the regular apy rewards.

[molten thistle]

Yeah since it is not locked, it would have to have it's own separate space

[arctic harbor]

https://tenor.com/view/illuvium-illuviumio-ilv-yield-farming-gif-22225026

in the video he just explained how the weight works, i..e, if you staked at 2, you get double the revdist. So glad I did that..

[molten thistle]

2 years from now, those 2 ILV might be bringing in $300 a month, every month.. and it might go on for 10 or 12 or 15 years paying out more and more as the Illuvium franchise takes over the world... * wishful thinking *

[arctic harbor]

yeah, and I'm even thinking about staking more too, maybe in a couple months, depending on how the market turns out... I understand that would be in a different pool though.

[molten thistle]

Yeah by then it would be V2, which you'd have to stake for 2 years to get that weight of 2. But really that just solidifies the market so unless you are planning on pulling them back out, it's not bad.

[arctic harbor]

I'm not too concerned with keeping staked for 2 years, as long as the compounding interests and revdist keeps coming in.

[terse tangle]

Not sure if you will get double revdis. It is just that you have 2*possibilities to be selected for revdis. I mean if all of us have a tokrn weight of 2, we wont have all double revdis :)

[manic spindle]

Token Weight 2.0 means that your staked ILV counts for twice the amount of what you actually have staked when rewards are being calculated 🙂

[ripe steppe]

thanks bro! u da best!

[terse tangle]

Thanks stormi! But, at the end, that wont mean you get double. Just a silly nonsense exemple, If revdis is 10k ILV and 10k stakers are x1 they may get 1 ILV each. Also if revdis is 10k ILV and 10k stakers are x2 they will get the same 1 ILV each cause the rewards shall be distributed equally. I guess the weight real value will depend on how many people are x2 and how many below

[manic spindle]

That is correct. Also it is pool dependent. RevDis is paid out by first allocating a share to each pool (ILV, LP and the team/seed...) based exclusively on the amount of ILV staked in there. At this stage token weight has no impact. Then inside each pool, the allocated share of the total RevDis is distributed according to your overall stake including token weight 🙂

[earnest shell]

hi guys. just wondering what happens every 2 weeks when staking?

[cunning perch]

Reward Distribution will go down 3% every 2 weeks (fortnight). This is in general.

[fast goblet]

Hey guys,
Since gasnow.org is offline, what are websites for gasfees are you using? On gasnow i really appreciate the heatmap of gascosts

[ember ginkgo]

https://etherscan.io/gastracker

[cunning perch]

You can check 👆 or #🥩〕staking message

[earnest shell]

I meant in regarding to sILV. do we get some when staking on core pool ILV? so far I've got 2$ a day of ILV only

[cunning perch]

Whatever your pending rewards show, you can always claim as ILV or sILV. Kinda not sure if I understood your questions correctly

[sand cloud]

This is so awesome! And cute xD

[cunning perch]

There you go. pinned it lol gotta thx @vital kayak

[flat crescent]

If i withdraw my SLP are my rewards automatically claimed? Can i save on gas this way rather than claiming rewards first and then withdrawing SLP after?

[sand cloud]

Withdrawing transaction does a claiming transaction before afaik

[flat crescent]

ah so no difference in gas, but at least i can just withdraw SLP and do both in a single process though?

[cunning perch]

Claiming SLP requires 2 TX, one for rewards in ILV pool and one for SLP.

[flat crescent]

I'm not claiming SLP i am withdrawing the liquidity

not just the rewards

[cunning perch]

The same. If you withdraw, you will be required to claim your rewards first and then you can withdraw it from the pool. you cannot leave the rearwards unclaimed

[haughty basalt]

Is it worth staking less than 1 ILV or should I just hodl it?

[quick dirge]

this is very dependent of your goals, but if i was on your place i totally would (but with SLP, not pure ILV pool).

[flat crescent]

perfect, thanks guys

[cunning perch]

Personally I wouldn't suggest it, cuz you need to pay a lot of gas fee for each reward claim (rn, staking alone will cost you about $100 as will each claim)

[quick dirge]

but what if he leave it for a year, no claiming rewards tho

just growing, and after ETH 2.0 , staking v2 and all that jazz, he have budget to use on game etc

[cunning perch]

Well he needs to claim if he wants the rewards one year later, There's no point in staking if you are not claiming your rewards. He can make a faster profit if he holds and sells at +$1k gas-free

[haughty basalt]

I bought about 0.7 ILV but on binance. And it's just sitting on my wallet

[cunning perch]

ETH 2.0 still doens't have a fixed launch date and V2 will still require gas to claim. Withdrawing however will be done through one TX.

[craggy field]

Depends on how much less than 1ILV and your gas fees. Imagine spending 60% extra of your investment on gas fees. you would need a full 2 years in the ILV pool to get that back in ILV. Or about 3 months in the SLP pool. Then after 3 months you will finally earn some SLP but that would amount to about 1.5-2x your initial investment, worth maybe 1-1.5ILV? And you will have to unstake and collect rewards again for gas.
It takes a hellofalot more time and would amount you barely any additional profits imo.

[fresh grail]

It might be best to buy through CEX and build enough to be able to stake it where the staking amount to gas fees isn't such a high percentage

[glacial scroll]

how often are people with average size slp claiming rewards generally? weekly, fortnightly, monthly? apologies im sure this has been answered

[cunning perch]

Hey. There are calculators in pinned messages that can help you with your question 🙂

[glacial scroll]

ok yeah thanks arash, just looking for a ballpark figure

[cunning perch]

No worries. You can always claim when you have enough rewards to justify the gas. I do when gas = 1% of my pending rewards.

[craggy field]

I wait for about 4K~$ rewards in ILV. Lowest possible gas fees should be about 40-60$ so 1-1.5% in gas fees.

[glacial scroll]

yeah cool, the first one i did was aorund 10 percent gass fee so maybe next time ill wait longer lol

[glacial scroll]

yeah that sounds like the way to go

[fresh grail]

I just did mine for the first time in 3 weeks. Was about 2.5% of my pending rewards. Mostly depends on the gas fees really. Wait until the USA is asleep and hope the gwei drops

[crude schooner]

How to withdraw rewards without re-investing them into staking ? When i claim, it goes directly in staking.

[quick dirge]

you have to pick sILV, but this one can be used only in-game, to buy land or to be sold on dexes (but for low price)

[crude schooner]

I prefer to create a ILV-ETH LP instead of only ILV. That's want i want

[quick dirge]

that would be nice actually

[cunning perch]

!claim

[woven ibex]

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

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

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

[drifting dew]

Anyone here can answer a quick question for me? For the SLP, how much ilv would make it worth it after gas and such?

Just trying to figure out how much money I would need to start staking on SLP. Eth+ ilv

[cunning perch]

Hey. Personally, I wouldn't got into SLP with less than $5k in total and having min 0.2 ETH on the side for the claims. But that's a personal opinion

[drifting dew]

5k as in 7 ilv min?

[silent cedar]

SLP is half eth, half ILV, so 2500 in ILV and 2500 ETH to put in sushi LP

[cunning perch]

What @silent cedar said 👆🙂

[drifting dew]

Thanks Jah!!

[meager prairie]

Just a refresher for me, cause I've seen the info somewhere, but don't remember... revdis regarding the slp pool. Impermanent loss isn't realized until withdrawal from sushi. So does that mean my original quantity of ilv staked in pool will earn Revenue distribution? Or is the revdis variable, dependant upon 50/50 ratio in sushi pool which changes due to price differences?

[cunning perch]

It only takes the ILV part of your SLP into account, not the ETH

[meager prairie]

Yeah, but doesn't ilv quantity change over time dependant upon both eth and ilv price changes. So is revdiv based on original quantity staked or the new quantity based on 50/50 ratio?

Or rephrased... does rev dis take impermanent loss into consideration while determining revenue distribution

[cunning perch]

Ofc. The more IL you are exposed to (losing ILV) the less RevDis you get

[meager prairie]

Cool... thank you for the assist!!!

[cunning perch]

No worries brother 🙂

[royal solstice]

While the IL reduces ILV % in SLP, the reward ILV likely is higher than the initial ILV amount in the initial SLP stake. So yield farm should offset IL, assuming that ILV is the higher growth token.

[swift mulch]

Ok what’s the best between the 2 in your own opinion

I know they both have they differences I’m long to grow my money long term which would be better ((((I know not financially advice))

[cunning perch]

It all depends if you willing to take more risk. SLP has a higher risk than ILV pool and gives you more rewards for that. So, it's not a matter of being better. It's the matter of knowing which is better for your investment. There are ppl with thousands of ILV in the single pool while there are those with thousands in SLP.

[swift mulch]

Like mmm. Thanks I’ll go do more research Ow and what your price Prediction for the lands 🥸your own personal opinion please dm me if you know the actual price 🥸lol prediction

[junior crow]

precious APY is dyingggg pump the apyyyyyy

[cunning perch]

No worries. I suggest watching @manic spindle ‘s video regarding IZ and land. It's thorough and you will get a good idea 🙂

[swift mulch]

Thanks

[ripe steppe]

but because you earn way more ILV in rewards from the SLP, you will earn more from the revdis overall because of all the ILV rewards (assuming you are claiming rewards as ILV and not sILV)

[craggy field]

That is only true after a couple of months of yield farming with a high APY. If you look at the first 2-3months you will have less revdis because your ILV amount is lower than when you had gone all in on ILV. At current APY without major decreases you will need about 74-80 days before the revdis is equal. After that, as long as the APY doesnt dump you should indeed see an increase of ILVrewards from SLP and therefor Revdis compared to the ILV pool.

[ripe steppe]

overall once the game is out and revdis begins, as revdis grows and yield reduces over time it will become less and less profitable to get into SLP if you are coming in as a new staker

as of right now, imho SLP is miles ahead...

[craggy field]

Yes. Right now would still be a prime time to go for SLP :) NFA

[ripe steppe]

100% nothing I ever say is financial advice (wish that could automatically just get written after every message lol)

[potent flare]

hello (nfa); How are you? (nfa); Yes, this is financial advice (nfa); like that? 8)

[signal basin]

Shout out to Vetamor, Stormi, Deraji and others for helping this 56 year old normie get into the brave new world of crypto gaming. 👍🏼👏🏼

[abstract crown]

Can anyone help me understand why this is labeled unlock in 358 days?

And also has no indication where the reward came from (ILV solo or ILV/ETH LP)

[clear cape]

Because your staking rewards are locked for a year after you claim them.

[abstract crown]

Yes, but 358 days is more than a year.

[exotic igloo]

[signal basin]

Not on planet 🌏

[abstract crown]

wait, did I just go braindead? LOL 365 not 356

[exotic igloo]

Hahhaah at least he realized

all good

[abstract crown]

I apparently need sleep...too much NFT action

Still not sure why it doesn't indicate the source though. All my other records show where the reward came from.

[manic spindle]

Thank you very much. Never too old to get started, it's an amazing new world 🙂

[signal basin]

I’m involving my 9 year old in what I’m doing so he starts young. 👍🏼

[abstract crown]

Smart man

[exotic igloo]

Try refreshing

@hexed bough Known bug?

[abstract crown]

Did a ctrl + F5 still no icon for source of reward. Everything adds up correctly so if it is a bug, it's definitely just a display issue.

Seems to be only with my last claim as all the others report correctly.

[sand cloud]

Afaik yes

[hexed bough]

Looking into the issue of missing source. Hopefully will have a fix in the next few days

[abstract crown]

Cool, thank you very much.

[hushed valley]

To me, SLP seems to be the winner over ILV until 2024 when all the ILV has been released…is this wrong? I’ve watched vetemors video and am confused why anyone has chosen ILV over SLP…

[hot lynx]

ILV chooses you when you have SLP as the claimed ILV is frozen for 12 months

[wind walrus]

Mainly risk. Some investors don't know IL or want to deal with it. ILV is safer for them

[pure fulcrum]

Will this be forever? So if I claim rewards in 1 year for example will there still be the 1 year vesting or will it decrease in the future?

[clear cape]

Yeah the 1 year vest will still be there

[pure fulcrum]

Thx not the answer I wanted but good to know

[sand cloud]

Silv is unlocked when claimed, but for now the value is lower than ILV

[manic spindle]

!claim

[woven ibex]

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

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

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

[craggy field]

The calculator from Cooper is outdated since the APY on the site now already takes into account the -3% per 2 weeks 🙂

[silent arrow]

you can use https://zapper.fi/ (don t click the link, it s better not click when it come from discord, just search on google)
you imput your eth adress and then it will display all 😉 (how much reward, from where ect)

[gloomy gazelle]

!claim

[woven ibex]

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

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

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

[gloomy gazelle]

@pliant ermine https://etherscan.io/tx/0xecb6d5363cebcff58475d0bc36e2f7390ef297693a853e8aff4dd94db8b2f652 this is a claim transaction that was successful. You’ll need much higher than 250,000 limit.

[sonic bramble]

I remember something about the staking system migrating from a 1 year to a 2 year max lockup period, and existing stakers getting the max rate even though they'd still be locked for only 1 year. Can anyone link me to the relevant announcement?

[pliant ermine]

Cool. Thanks!So I have to claim again form ilv pool before SUSHI LP pool?

[cunning perch]

You can find the initial proposal in pinned massages in #809220563397902346 but many stuff might change so gotta wait for the next one

[sonic bramble]

thanks, just wanted to make sure it wasn't getting implemented on a known date that I'd miss

[cunning perch]

Ah no. There will be an official announcement when it's getting implemented

[gloomy gazelle]

Yes. BUT… only as part of the claiming SLP process.

[pliant ermine]

OK...Kinda looking forward to stake v2.

Thanks again man.

[craggy field]

do we have a fungible proposal yet for V2?

[earnest shell]

does unstaking need any manual approval? its taking longer than 2 hours for a transaction to be created

[paper shale]

Is there anyway to swap my staked tokens to a new wallet address? Old one was phished, but the tokens are locked thankfully, saving them.

[ripe steppe]

Good Luck Bro!

[ripe steppe]

this will be an option once v2 staking goes live luckily

[ripe steppe]

does not need manual approval, should be like any other transaction...

[earnest shell]

shows as queued on my MM with 0 value

[lyric pulsar]

I want to know about stacking ILLUVIUM to get ILLUVIUM SOL , it is already possible to drain and how please give information .! PLZZZZ

[gloomy gazelle]

Has it made it to etherscan yet?

[frank pecan]

When claiming rewards. Is it normal to pay 2 gas transactions?

[gloomy gazelle]

!staking I’m not sure what all you mean to say.

[woven ibex]

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

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

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

[gloomy gazelle]

I assume you are claiming from SLP pool or Flash pool… then yes

[frank pecan]

Yes I did claim it from SLP pool. And it claim both my SLP and ILV pool. Thanks for responding ☺️

So everytime I claim my rewards from SLP pool. I'll need to do 2 gas transactions?

[gloomy gazelle]

Yes. Once for ILV pool. Then once for SLP Pool. It’s all part of the SLP claiming process.

[lyric pulsar]

If I freeze Illuvium and Ether , my funds are blocked for 12 months ?

If I stake Illuvium and Ether , my funds are blocked for 12 months ?

[cunning perch]

You decide how long you want to lock. U can use the flexible pool and don't lock at all

[feral shore]

So it is confirmed that you can move your stake assets to another wallet with staking 2.0 or we dont know yet?

[autumn cloak]

Nothing is confirmed yet since V2 hasn’t been approved by the council yet, but changing wallets for stakes is in the proposal

[feral shore]

ah ok ty

[opal hearth]

Hey guys, I have chosen the flexible staking option a week or so ago and now want to withdraw my staked tokens, however I can't see any buttons to unstake - any ideas?

[gloomy gazelle]

It’s in VESTING tab

[opal hearth]

Gotcha, thanks man!

[lyric creek]

question on the vesting (or maybe, cautionary tale, don't do this)- So I went to vest my rewards and with the gas fluctuations, I only had enough for the first ILV portion of the vesting. No big deal I think, rejected the second transaction, sent some additional ETH over but then when I went to claim again, had to pay 2x gas again, once for like .0000006 ILV and the other for the bulk of the SLP I was going for

[gloomy gazelle]

Yeah staking in the SLP pool much higher transaction costs.

[lyric creek]

yeah, make sure you have enough for BOTH transactions, or like me, you end up paying thrice

[gloomy gazelle]

#🥩〕staking message this is a pretty good tool

[lyric creek]

it is a bit frustrating that it seems to prioritize the ILV over the SLP pool as I would let actually let the ILV accumulate longer if I had my druthers but oh well

[high tide]

Hey guys, new to staking. When I claim my rewards, they start beating for one year…does anyone know at what rate? I am in the core pool with the 12-month lockup

Start vesting*

Maybe I should clarify-I mean at what interest rate do they receive compound rewards while vesting?

[pure eagle]

At the highest. When your rewards vest they go to the ILV core Pool with a x2 token weight

[high tide]

Thank you!

[misty prairie]

Besides ILV, and maybe OHM, what are some of your favorite projects to stake in??

[gloomy gazelle]

Ask this question in #795846467084484619 That’s the place for non-illuvium YF discussion

[earnest shell]

can I not use ILV to stack on the sushi LP pool?

[silent cedar]

To stake in Sushi LP pool, you need Sushi LP tokens. You have to stake 50/50 ETH/ILV for sushi LP.

[earnest shell]

alright so I gotta have SUSHI tokens. thanks

[brisk surge]

nope

[brisk surge]

You need to go on sushiswap and use ILV and ETH to provide liquidity. You will get a token called SLP from providing liquidity and that is what you stake.

There is a good staking video in the pins, you might want to check that out.

[earnest shell]

thanks I just got it from @silent cedar

[brisk surge]

Haha i just wanted to make sure you understood. Ive seen people go and buy a bunch of $SUSHI and then come back confused.

[brisk surge]

when you unstake do you have to pay a gas fee

?

[brisk surge]

I would assume yes. Why would you want to unstake though?

I might want to take some profits on the way up

[earnest shell]

yea you do pay around 50 euros

[silver sky]

SLP claim at $55 is pretty good right?

[brisk surge]

does it also take a gas fee to claim sILV

[brisk surge]

The gas fee for claiming sILV is quite a bit less than claiming ILV. Its because sILV goes straight to your wallet while the ILV rewards have to be staked into the ILV pool.

[brisk surge]

so I have some SLP staked at the moment but when I try to claim the ILV in the rewards it is telling me "Invalid parameters: must provide an Ethereum address."

[gloomy gazelle]

Are you on the correct network?

[molten thistle]

Make sure your meta mask is logged in and on Eth main net and reload the page?

[midnight crow]

Where can I find more information about the LINK flash pool? You stake LINK and I suppose get ILV as rewards?

[vital kayak]

Just sayin hi hope y’all makin $ 💜

https://tenor.com/view/now-will-jackson-wentworth-rn-right-now-gif-22835025

[summer heath]

Its really a personal choice becouse there may be gas fees and a learning curve when moving to 2.0... with that said generally with stake pools the early bird tends to win. Personally I staked now but neither decisions is right or wrong

I noticed staking APY came down a few percent points. was there a Fortnite, or just pool fluctuation from perhaps more people entering?

[brisk surge]

does the pool estimated apy take into account 3.5 percent loss everyfortnite

[brisk surge]

Im not aware of anyone outside the team who knows exactly how they calculate that number. I would also love to know the answer to exactly what the "APY" number represents.

On 10/13/21 I calculated APR over a 24 hour period at 482%. Thats the best info Ive got.

[rancid rune]

What's the max duration to lock up now? 2 years?

[vital kayak]

3 1/2%?!! Damn I swear it keeps goin up every time I read someone mentioning it!

[vital kayak]

Nothings changed yet and may stay 52 weeks max.

[vital kayak]

Wut?? Gas to move my SLP to V2?? I keep getting blindsided by tiny annoying details @ripe steppe 😭🤪

[sacred cosmos]

From what I know its pegged at 3%

[summer heath]

Im not sure. Im just speculating. generally any move on defi incurs a gas fee. but i never
heard this from the website. I was just thinking possibilities myself. i would say best bet is to wait for V2 and we will work through any issues as they come

[sacred cosmos]

From the initial proposal. The only time youd move your tokens to V2 from V1 is if your tokens have unlocked. So its really just "restaking" it but in V2 which would have lower gas fees supposedly. Dont confuse it to having your V1 staked which is currently locked and when V2 drops you migrate it. Aaron mentioned you cant migrate locked tokens.

[summer heath]

I wouldn't worry about anything. its putting the cart before the horse. I'm sure things will be just fine. the only point i was trying to help the person who asked the original question is defi is new and confusing so definitely consider risk as well as reward.

[vital kayak]

Yes it’s 3% every 2 weeks

Ok thanks guys! Hey y’all see the new leak from Von 20 mins ago?? 🤩😳

[summer heath]

I haven't. where is this?

[molten thistle]

#🚰〕leaks

[summer heath]

thanks Kaiotee

[hot lynx]

Amazing reasons to do more #🥩〕staking 👀❤️

[brisk surge]

So you wouldnt be able to migrate the tokens you originally staked that are locked

?

[sacred cosmos]

Yup. You can only do it once theyre unlocked. So this affects those in flexible and tokens who are about to unlock before V2 starts

[brisk surge]

damn that sucks

[midnight belfry]

say I claim 1 ilv. would I continue to reap rewards while that 1 ilv is vested?

[regal niche]

Not sure if this is the right spot to mention this, or if anyone can help. But every time I try to claim my ILV from my Sushi LP it claims the other ILV. And it's costing me hundreds just to throw away small amounts of ILV in an attempt to claim the other stuff I've actually waited to claim. It's getting really depressing at this point. And the site on mobile says to use the pc browser, which I do with the same results. I don't know what to do. Does anyone here know about that?

[craggy field]

When claiming the SLP pool it will ask for two confirmations. It will first claim the ILV pool and only after that the SLP pool. Always use the pc browser to claim stuff though.

[regal niche]

So, I reject the first confirmation and confirm the second?

[craggy field]

Idk if that works actually. Never tried that myself. Might be more nifty people around who did :)

[brisk surge]

what are the average gas fees for the SLP to stake

[craggy field]

There is a pinned message from Vetemor that calculates all gas fees for all contracts in this chat. Do check it out

[boreal socket]

how to stake

[regal niche]

I wonder if the claimed ILV combines once they have been vested for a year and released. Anyone know that? Because at the moment I'm trying to claim 1.7 ILV in my sushi rewards. But my ILV rewards are like a .00000035. It would be a waste to to claim anything until the ILV is high enough to beat out the gas fees a year after vesting, yeah? I hope so cuz I've otherwise wasted like 300 bucks simply because I am too dumb to figure out that two rewards must be claimed at the same time with separate gas fees. And the website does indeed say that. And I tried cancelling the first transaction to get to the second, but that didn't work. I'm guessing there is no better way of claiming rewards huh

[brisk surge]

When claiming ILV from the SLP pool the transaction has to claim the ILV pool rewards in order to stake your rewards to the ILV pool. It sounds like you have a fairly small SLP investment so you are probably better off claiming much less frequently than you would imagine. There is a google doc in the pins that can help estimate when its best to claim. My rough guess is you should only be claiming once every one or two months to make the gas fee worth the benefit of compounding.

[regal niche]

Thanks. I'll look for that doc

[ivory sun]

Check the pinned messages 🙂