🥩〕staking

[bright socket]

or just ILV /sILV?

oohh ok, so with the sushi pool i need the same dollar value of ETH + ILV? so im basically investing in both, if i beleive ETH long term is a good investment then im better going the sushi one?

[hushed valley]

I wanted exposure to both and am confident in both. So I chose SLP.

[bright socket]

yeah, ETH is somethin id be invested in long term anyways so i may as well go that

[gloomy gazelle]

The apy in the SLP pool will likely continue to be significantly higher than the apy in the ILV only pool

Maybe read this https://www.publish0x.com/ilvfi/staking-illuvium-ilv-part-1-staking-basics-xelemgg

Or find a good staking video by deraji, vetemor, or stormi

[bright socket]

cheers mate

if im staking SLP with 1k ETH and 1k of ILV, am i making returns based on both or just 1k of ILV?

nevermind, just read the answer lol so just the rewards from the ILV portion

oh wait.. it is both? sorry new to this 😆

[next ruin]

Yield Farm rewards are on both, RevDis on ILV only

[bright socket]

ok too easy, cheers mate

[thick kraken]

i have a question - i bought a bunch of ILV from Binance, how do I make those Ilv tokens earn from revdis?

[agile basin]

quick question

is it possible for the staking reward to stop growing because mine looks like its been stuck on 0.05 for almost 2 weeks now😅 😅

[next ruin]

You have to stake them on the Illuvium site. Need to transfer out to a wallet (like MetaMask) and stake from there.

[thick kraken]

do i get more revdis if i lock em?

[next ruin]

RevDis is impacted by token weight, which you get from increasing your lock period. So, yes.

[thick kraken]

thanks!

[bright socket]

is revenue distribution on top of the estimated APY?

[next ruin]

Yes. APY is yield farm rewards only. No way to estimate RevDis in such a way before there is revenue. I mean, we can speculate...

[bright socket]

ok sweet, interesting

[sturdy wren]

are there any news on staking v2 or rather when it will be implemented?

[brisk surge]

I have 2 questions:

1. if I claim sILV, its value will be equivalent to the current value of ILV right? for theoretical purposes..
   if say value of ILV is $1 and sILV is $0.5, if I claim 1ILV, then I will be receiving 2sILV right?

2. Is it safe to buy and/or sell sILV on dextools.io?

Thank you in advance

[next ruin]

Illuvium always treats ILV and sILV as 1-to-1. Your reward claim will be 1 ILV or 1 sILV. When spending in the Illuvium ecosystem, sILV is recognized at ILV's price no matter what sILV is trading at elsewhere. I've never used Dextools to facilitate swapping, so I can't say. The sILV liquidity pool is on Uniswap though.

[hushed valley]

Will RevDis start with the land sale? If so, I’ll plan on claiming my ILV right before

[hidden solar]

Can I buy monsters with sILV?

I want to know where to use sILV...

[next ruin]

You can buy land in the upcoming auction and in the main game you can pay to cure shards to capture Illuvials and pay to travel to higher tier lands for chances at rarer Illuvials to combat and catch. You can't buy Illuvials directly and the P2P market will be Eth, as sILV is burned when spent.

[hidden solar]

Thank you.

[rich ember]

so if i have ILV on my binance wallet, is it better to move them on sushi and put them on stake in order to airdropped sILV?

[gloomy gazelle]

It depends on how much you will be staking.

[rich ember]

ok based on the APY right as usual...i guess...but in the game i need sILV and not direct ILV, i get right?

[gloomy gazelle]

#🥩〕staking message you could try making some calculations using this sheet

[gloomy gazelle]

Correct. ILV is not used in game. It is for staking.

[rich ember]

perfect thanks

ok all clear...as now we can just start to earn sILV if we want...and accumulate as much we can in order to use in the game, and follow what was mentioned here:

You can buy land in the upcoming auction and in the main game you can pay to cure shards to capture Illuvials and pay to travel to higher tier lands for chances at rarer Illuvials to combat and catch. You can't buy Illuvials directly and the P2P market will be Eth, as sILV is burned when spent.

sorry for the many question, just to be sure i got right

[gloomy gazelle]

Everything here sounds correct.

[rich ember]

ok thanks

[brisk surge]

is there a support i can DM regarding a query?

[weary scroll]

How to stalk and minimum requirements I'm new so idk

[gloomy gazelle]

You could dm a mod for help. Or just get helped here in public. I gotta go offline though. Remember no “support”will dm you first. You must make first contact.

[hidden solar]

How do you do staking to get silv? It’s too difficult.

Can I get SILV if I steaking ILV?

[atomic lagoon]

https://www.youtube.com/watch?v=C6YugU4zZr4&t=741s
you can learn how to stake from this tutorial. You can get either ILV or SILV if when you stake. The system will ask you too choose which one you would like. if you claim as sILV you will get it straight away and if you claim as ILV there is 12 months vesting period.

[hidden solar]

I'm staking ILV, but I can't get the ILV or SILV option..

Does it only apply to "sushi lp"?

[atomic lagoon]

when you go to reward tab... you will see like this.

[hidden solar]

I solved it. Thank you.

[carmine drum]

Dont be hesitated to ask, we all love to help each other 😉

[brisk surge]

Any advice on whether to stake 2.5ilv for 6 months or not to bother

[atomic lagoon]

if you stake 2.5ilv in ilv pool for 6 months, you will get around 0.05 ilv per month roughly (may be a little bit more). . which is about $45... this will not even cover your gas fee.

[maiden peak]

Is there a review of what v2 staking will be and what it means for those of us currently staking?

[sacred cosmos]

Theres no concrete answer for this until a proposal is sent for the council's approval

[urban field]

I guys got £1000 is it worth staking

[tight magnet]

I think so - that’s about how much I am going to start with - but I will be using the 40% APY ILV only option and leave it for the 12 months.

[visual lark]

If I have ILV already staked and I wanted to stake more in the future (with the same weight), does the reward pool combine into one or nah?

[silent cedar]

You can add to your stake. When you do it will automatically claim any outstanding rewards. The stakes have their own locking periods but are one lump some that you are getting rewards from.

[visual lark]

Cheers

Hmm so would it be best to wait until my reward is "profitable" after taking into account Gas fees or just add to my stake to gain a greater amount of ILV as rewards and make up for it in the long run 🤔

Oh wait rewards earns yield while vested right?

[steady beacon]

If you’re staking 2ILV is it worth SLP option or gas fees too high even for 12 months?

[tropic axle]

wondering too how much higher are the gas fees in the slp pool

[steady beacon]

Gas fee is $160 right now.. not sure if it’s worth it

[sand cloud]

Staking ILV gas fees are
(Fiat -) ETH - ILV - staking
For slp it's
(Fiat -) ETH - ILV - SLP - staking

On top of that claiming ILV rewards from the SLP pool requires you to claim ILV pool rewards too

[sacred cosmos]

I have no idea why gas is so high past weeks. I was able to stake 3 weeks ago at less than 40 gwei

[steady beacon]

Been crazy on opensea lately

[silent cedar]

110 gas I now consider low, used to call 29 low

[steady beacon]

Makes it impossible to buy anything at the lower end

At 2ILV no point staking sushi. Fees will kill it.

[tropic axle]

Long term i think its worth

[steady beacon]

APY on ilV staking already down to 40% for 12 months

[tropic axle]

got 1.5 ilv staked on ilv pool and made 0.12 ilv already 😆 📈

but kinda regret not going in slp

[steady beacon]

When did u start

[tropic axle]

like maybe a month ago edit: i think it was more like a month and a half ago

[steady beacon]

Nice

[tropic axle]

hoping i could slowly start stacking the pool with revdis

[fleet turtle]

Hi all. I've got 2.5 ILV I'd like to stake but with $170 gas fees, I'm thinking this is not so great. What's your strategy and how do you determine when it's profitable to accept high gas fees?

[fleet turtle]

Personnally, on the pool, I paid the fees and locked for two years to get rewards times two. This way I think it might be worth it. But of course it's a bet on the future of ILV and it means accepting the inability to trade it for a couple of years...

[ornate loom]

Sharing my experience: Did the staking today the whole process. Fiat-ETH-ILV-SLP. There is a total of 6 gas payment. As you said, gas is high these days compared to 2-3 months ago. So, to stake $1,500, I needed to pay almost $505 in gas.

Given the APY, I should break even in 4-5 months. That would also be the time that the game is already launched. So all good, I'll forget my stake first since it is fixed for 24 months 😆 I made sure I have some ETH still for the game expenses.

[steady beacon]

Do we know if staking SLP u get to participate in any rewards or drops?

[tropic axle]

Im thinking you get revdis on the amount of ilv that you have in slp so 50% But if ilv goes crazy then you will have more eth than ilv and revdis will be lower (correct me if im wrong)

[steady beacon]

So to stake SLP you need same amount of ilv and eth to swap to sushi then u stake that correct?

[sacred cosmos]

Yeah, gas has been a deal breaker in staking recently. Best advice (NFA) I can give is you make your bag bigger to offset the gas fees. A 2.5 SLP staked will net you somewhere around 0.2 ILV a day.

[meager prairie]

@ornate loom you will also need eth gas to collect rewards to start their 12 month vesting period and allows them to earn compounding apy in ilv pool

[tropic axle]

yes same dollar amount

[cloud flame]

it is impossible to take money back from staking before the end ?

[tropic axle]

yes

[wheat kestrel]

Yes, impossible to remove until your lockup period is complete

[cloud flame]

thanks

[tropic axle]

and after the lockup period when you claim it it will be locked (vested) for another 12 months but will be earning rewards along the way

[gleaming brook]

Helppp why gas so high? 😒

[trim terrace]

Hey all I staked about $1000 of LINK into the flash pool that recently ended and I earned about 0.05 ILV ($50). Apparently there is a gas fee off $225 in order to claim the reward. Do I pretty much have to pay this fee to get my staking reward and release my LINK back?

[brisk surge]

these gas fees are a killer for sure

[steady beacon]

If ur staking SLP do u need to add SLP token to your wallet so it can show up after u combine eth + ilv to create liquidity?

[brisk surge]

Does anyone know if a proposal has been submitted for V2 staking for the ability to shift our staked tokens and SLP to a new wallet address?

[clear cape]

go onto illuvium io staking and then stake your SLP there, dont necessarily need to make it show up on ur wallet

[steady beacon]

U need to create SLP first by combining both eth n ilv. It should sit in your wallet before you stake the SLP

[clear cape]

If you want the contract address its 0x6a091a3406e0073c3cd6340122143009adac0eda

[hollow jungle]

„Say goodbye to GAS

Enjoy a new era of NFTs thanks to integration with Immutable X. Zero gas fees for peer-to-peer trading with instant transactions, all while you securely maintain custody of your assets.“
😂

Say goodbye to stake, because of GAS😒

[trim terrace]

Wow, I just claimed my sILV, gas fee $50. Now I have to withdraw my LINK from the pool and there is another gas fee of $100. Staking is not worth it unless you can risk a lot

[brisk surge]

i think it's better to have sILV token for the game, and invest to items @ the market than staking low amount of ILV

[cunning perch]

staking is worth it. But you have to take it into account + the size of your stake. For smaller amount, it might not be worth it, but hopefully V2 is going to fix this

[gentle axle]

What will V2 be doing?

[fleet turtle]

How do you get to 2.5 ILV staked earning 0.2 ILV per day? Even with the higher APY of 45% locking ILV for 2 years, I get 1,125 ILV per year in rewards so 0,003125 per day righ?

[earnest shell]

slp all the way man

[cunning perch]

You can find the initial proposal pinned in #809220563397902346 though lots of it might change. The final version should be out shortly and will await the councils approval.

[gentle axle]

Right, will check it out thanks!

[cunning perch]

happy to help 🙂

[sacred cosmos]

SLP (sushi liquidity pool) you swap ETH/ILV pair for it. Higher yields.

[gentle axle]

On another note, I have a question: I am staking in the SLP pool at the moment. Do my accumulated rewards compound? As in, will the staking be exponential and I will be earning more ILV per day as time goes?

[cunning perch]

Your rewards will only compound if you claim them. SLP claims require 2 TX and therefore 2 gas. Just keep that in mind. Also, read this:

[woven ibex]

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

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

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

[willow nest]

Are most people staking ILV or sILV

[cunning perch]

there is no staking for sILV

[willow nest]

Oooo

[cinder whale]

Can some one check for me how much you can make staking 18k because I don’t know how to use the calculator

[willow nest]

The weight is just a multiplier right? So if I'm staking 1 ILV with a weight of 2 it just counts as if I was staking 2 ILV?

[cunning perch]

yes

[willow nest]

Ok thanks. Sorry for dumb questions

[cunning perch]

It's ok. No question is dumb 🙂

[gentle axle]

Do we know why they made the decision to lock rewards for 1 year by the way?

[cunning perch]

To avoid dumps, and also the rewards are not circulated tokens yet. They need to be vested and when they are unlocked, they will be added to the token supply. then you can keep it staked (migrate to V2) or withdraw

[gentle axle]

Makes sense, thanks!

[cosmic flame]

do you know when will be the improved staking implemented? staking 2.0 or whatever it was called

[cunning perch]

Probably next month. No released date yet. The proposal needs to be revised, finalized and then approved by the council, but team is already working on it

[cosmic flame]

awesome thank you

[thick kraken]

i have a question, I have ILV that is vesting from rewards, are these gonna earn from revdis?

[sonic lotus]

Yes. Claimed ILV will earn revdis

[cunning perch]

yes. any claimed ILV will be earning more rewards and will receive RevDis later

[thick kraken]

and I assume they will earn at 2x weight cause they are vesting for a year, no?

[cunning perch]

yep. you can see the weight in the "vesting" section on the website

[thick kraken]

thanks brotha huge help

[cunning perch]

Happy to help 🙂

[daring cargo]

Atm I've got a quarter of $ILV, with the gas fees being so high atm what do you think is my best approach for utilizing my $ILV best? Should I stack them - should I keep buying more and more until the fees are low to start stacking? Thanks in advance! ❤️

[gloomy gazelle]

!gas is it a good time for claiming?

[woven ibex]

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

[distant forge]

I bought ILV token for 993 usd, Is there any stratergy to staking

[gloomy gazelle]

So wild. Minimum low gas has not been lower than 80 for 4 days

[gloomy gazelle]

Yeah. Read this or watch a staking video on YouTube by vetemor or deraji. https://www.publish0x.com/ilvfi/staking-illuvium-ilv-part-1-staking-basics-xelemgg

[sacred cosmos]

Generally, no one here will give FA so take every advice as NFA. With that being said, staking is one of the best ways to earn more ILV and while there is no minimum in staking, your barrier is really the gas fees. Youd want to compute how much gas you will pay for staking and claiming and if the rewards youll get from your stake is commensurate or not. Be that as it may, it is generally a good idea to accumulate and stake one big stack rather than stacking smaller stacks due to the gas fees as previously mentioned.

[tight magnet]

NFA - I am looking at staking at least 1ILV for 12 months to get the 2x weight - and then claiming maybe once every 2 months - I think anything less than that all profits would be eaten up.

2 ILV at 40% APY for 60 days at 1000 per ILV would be around 130 worth of ILV - if gas fees are under 100$ then I guess you would be making progress. Am I thinking about that right?

[meager prairie]

It's only 1 ilv at 40%

[tight magnet]

If you lock it up for 12 months it’s 2X

[sacred cosmos]

It will compute it for you in the dashboard how much its worth at any given time. So from there you can also test out the claim to find out how much gas you will pay for claiming it. So with those two variables you should think of a strategy where the gas fees are miniscule enough compared to your rewards that you wouldnt mind claiming.

[tight magnet]

Or is the 40% the 2x already?

[clear cape]

Yep

[robust pond]

Hi. Question about long pending transactions. So, I added to my SLP stake last week and cheaped out on gas (35 gwei). So the transaction for the Process Reward and Stake didn't go through as expected and I thought that I'll just leave it hoping the gas would get lower the next week, which is today. So yeah, gas is still outrageous and so, I checked my transactions. The Process Reward is still Pending but the Stake is now Dropped - Is that normal? And if it is, what will happen to my Stake tx when my Process Reward goes through? This is the first time I experienced this since I always get my transactions through @ 35 gwei on Sundays.

[digital ether]

have question regarding sILV, why should we cash out in sLV instead of iLV?

[wheat venture]

so much gas being lower on sundays

[jagged spindle]

Slv will be used in game only. Ilv gets locked and staked. Also slv you can use without restrictions in game

[digital ether]

What else can we do with our Link now the flash staking is done? any other projects with Link staking?

[hybrid coral]

@brisk surge

-Do you plan on buying and staking more ILV and if so when?
-Do you plan on buy avatars or land?

There are so many factors that go into it. If you are expecting huge rewards anytime soon from staking 1 ILV that's just not going to happen. But if you want growth and to earn revdis (revenue distribution) from the money the game makes then staking is a way of compounding your rewards.

If that is ok with you and you aren't planning on needing that ILV immediately then yes staking is a good way to go but it's up to you

[cunning perch]

For now Link is done. Might again be up for a flash pool, but no decisions yet. You can withdraw adn claim your rewards. ILV rewards will be locked but sILV will not and you can use them for land sale / game

[brisk surge]

Well I want to get the most I can with the game, so that means I need Slv right. So I guess I would need to stake it for like 12 months and then do it again while claiming the rewards to grow in game gains right?

I'm not interested in getting the money I invested quick, I'm interested in getting the most out of it on a long term method

I'm not sure, maybe I'll get more. And I'm not sure whats the purpose of avatars and land, but I guess since I want to get the most out of what the game has to offer

[hybrid coral]

Then you wouldn't want sILV you would only want sILV if you plan to buy something in game.

So from what you are saying I would suggest you stake but take the rewards in either ILV or Sushi swap liquidity pool.

If you take it out in sILV you are no longer compounding your earnings and will get less out of itm

[brisk surge]

But isn't buying things in game useful to win more and gain more? Or are the in game purchases purely non profitable at the moment

[hybrid coral]

Like I said it depends on what you are going for. When you say "I want to get the most out of the game" are you referring to the most fun or are you wanting to try and make as much income on it as you can?

[brisk surge]

Oh sorry for not letting that clear. Well get the most income I can get with the ilv I have by playing. I thought that the in game matches and that was the way to get income

[hybrid coral]

Well this is purely speculative because we don't know anything about how much the in game market will provide yet. But if you want to get the most out of it then it's likely that buying sILV and just using it to play the game and capture as many Illuvials and mine as many resources as you can is probably going to be your best bet for creating income as well as wagering that you will win your battles if you feel like you understand the game better.

But again without actually knowing how much you can make there in the market there is no way to know.

They staking rewards are going to diminish eventually as more people stake and the revdis is unknown so unless you have a ton of money to drop into that it's going to be slow earning money that way potentially

[brisk surge]

Yeah thats what I had in mind, of course theres no info about that since the game isn't out but I'm sure that by playing and capturing and having resources you'll get the most income, not only by staking. Thats why I had in my mind purchasing in game things is important, but I didn't know you couldn't with ILV, so now I'm like o burger I need SIlv

Thats why I meant by getting the most out of the game

[hybrid coral]

Yeah you can buy sILV and it costs around 55% less then ILV right now.

So as an example it could cost around $50 to travel to a new area so if you stock up on some sILV now you will have your game costs covered later. But I would do a deep dive, read the white paper, read all of the pinned posts in the channels and watch some of the videos the community has made so you can get a solid idea of how everything works

[brisk surge]

Yeah I certainly need to study the in game mechanics, but talking about the sIlv again so I can understand clearly, if I want sILV then with the ILV I have I should stake it 100% right? And then if I want to buy sILV (which i don't know how) do that too later

Like I want to get income by playing, so for that I guess I need to stake to claim the sILV rewards. I'm not sure how the 6 months or 12 months works tho

[old yarrow]

You can claim in ILV or sILV. claim ILV to restake it and continue getting revenue distribution. Claim sILV to use it in game or for land sales / the eventual marketplace etc.

[hearty jewel]

I have a question, is there a Gas fee to Claim our rewards?

[coral pike]

yes gas x1 for ilv core pool Gas x2 for ilv/eth ( sILV) pool from what i understand

[hearty jewel]

? that doesnt make any sence, why would there be 2 gas fees assocaited with claiming it from the ILV/Eth staked pool ?

[coral pike]

!read here is some information on it 29 mentions the 2x fees

[woven ibex]

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

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

[brisk surge]

If you claim in sILV you loose the ilv you staked or you still keep it?

[ivory tusk]

you keep it

the sILV that you claim are rewards for your staked ILV, so getting the reward doesnt affect your stake you made to get it

[brisk surge]

Ah okay okay, Ill go to stake 🍴

[old yarrow]

I am fairly certain that once you choose sILV as a reward claim for a stake, you ca NOT go choose ILV for a later reward claim though. So keep that in mind.

[cunning perch]

Every time you claim, you choose either. What's done cannot be undone for sure 🙂

[pure dove]

what is the minimum of ilv to be staked?

[marble mountain]

@manic spindle Okay I am here. My question is the same one. Same scenario 4 guys in the pool with all the same tokens same weight... Are the rewards split 25 percent to each? are the rewards given by this formla? (Rewards to be given/token number* token weight

[manic spindle]

Yes, if four people with the same amount of tokens and the same amount of token weight would be the only people staked in a pool, then they would get 25% of this pools rewards.

[hybrid coral]

Are there liquidity pool out there that wouldn't work this way? I thought this is how they all worked?

[marble mountain]

I mean they should all work like that yeah

[manic spindle]

Total amount of rewards paid out (which is a fixed amount) is distributed based on pool weight where the ILV pool has 0.2 and the LP pool has 0.8. In times of a flashpool since these get 2% both core pools are slightly less.

[manic spindle]

No idea if there are. I just answered the question about how it is here 🙂

[hybrid coral]

Yeah I was just curious that's all I don't think a liquidity pool would work any other way if everyone put the same amounts in. Could be wrong though

[split maple]

Guys I am trying to withdraw my staked ilv (flexible staking) into my wallet. However after clicking on withdraw I do not see the transaction on eth scan

Been waiting 3 hours now. Anyone know what I might be doing wrong?

[fleet turtle]

Ok, you meant 0,028 ILV earned per day then. I'm already in the liquidity pool and was thinking to just stake on the side unlocked. The pool looks great but... you have to have faith and won't be able to trade at all for 2 years...

[autumn cloak]

Did you approve the transaction in your wallet and pay the gas fee?

[split maple]

Yeh. I chose the gas fee for a fast transaction circa 150$ but nothing happened after that

But if I try to withdraw again the nonce number moves up by 1

[autumn cloak]

Not sure then. Do you see a failed transaction in your wallet’s history

[split maple]

Nope not pending or failed. I’ll just wait over night and try withdrawing again in the morning. Thank you!

[autumn cloak]

Hopefully it sorts itself out overnight. Not really sure what happened

[worthy peak]

wen gas 40 again?🥺

[delicate plaza]

I've never done liquidity staking before - do you think the larger apy for the SLP pool is worth the risks?

[tight magnet]

NFA - it would seem that with the SLP pool in order to claim rewards it takes 2 transactions which means 2 gas fees - so unless you invest enough to outweigh the gas fees the SLP pool is probably not worth it IMO - somewhere around 5K probably - the risk of impermanent loss should be combated by the high APY however - if ETH or ILV price change drastically then a balance must be kept and it’s possible to lose some money there.

[cunning perch]

@granite edge

[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.

[patent drift]

I have a question about staking reward claiming.
today I start to stake 1 year locked
I can pull it out in 11/1/2022
if I claim staking reward in 11/1/2022, I have to wait until 11/1/2023 to get my reward?

[cunning perch]

If you staked for one year now, your stake will be unlocked exactly one year later. Now, when ever you claim ILV as your rewards (AFTER THE CLAIM) it will be locked do one year (all claims will havediffernt sets if yearly vesting after claim) while compounding to your stake with a weight of 2X and generate more rewards. Now if you claim sLV, it will be release to be used in game/land sale/Illuvatar auction and officially will have no value outside the game.

[delicate plaza]

Thanks - building on what you said - how about staking in the SLP pool and not claiming rewards for months until its large enough or gas fees have dropped? Is there any problem with letting your rewards just stack up? How often do both pools allow for retrieving the built up rewards? Appreciate the help guys

[cunning perch]

Stacked up rewards (pending rewards) will do nothing nor will generate any rewards and will not start their vesting until you claim them and they will be locked for one year while computing to your stake and stay locked.

[delicate plaza]

Okay thanks so the 12month lock up starts whenever you actually claim them - and the amount stacked up prior to the claim is all locked up at once? Also on sILV - will that be able to be used to do the main functions of the game like go and get characters , buy resources etc? Might look to grab some prior to launch to have a small stack to use straight away

[cunning perch]

You claim ILV whenever you feel ok with the “pending rewards” and AFTER you claim them, they will get locked for one year and compound. Now if you claim sILV, it will be released to your wallet to be used in game/land sale/Iluuvatar auction. Officially it has no value outside the platform

[earnest shell]

is there liquidity enough nowadays to sell sILV somewhere?

[cunning perch]

Unofficially you can do it on Uniswap half price to ILV though as always, remember the pool is not authentic and not tied to ILV in any way. So please trade at your own discretion and risk.

[delicate plaza]

Appreciate you answering all the questions. Last couple as just read the docs you linked. Are you still eligible for revenue distribution if your ILV is staked in the SLP pool? And will the game link straight to Metamask/trust wallet etc or will we need to move our sILV tokens to a different form of wallet for in-game use? Does the game have its own wallet for storing resources, monsters etc?

[cunning perch]

No worries. Ask all you want 🙂 any staked ILV will get RevDis (SLP is ILV+ETH, so the ILV part gets RevDis, not the ETH part) and for the in-game use since game will be using IMX, you might be required to send your tokens (ETH and/or sILV) to the IMX wallet. More data will be released before the games going live.

[delicate plaza]

Awesome - will the mobile version eventually release be a new game or can you continue playing your progress from the main game in scaled back version?

[cunning perch]

IZ will be playable on mobile/web from the beginning, but the main game will have its own mobile version later 2022. Info about that has yet to be released as it's a later plan and not an immediate one.

[delicate plaza]

Just to lower gas fee exposure - is it possible to get an IMX wallet now and stake from there so I won't have to transfer sILV over to it on release?

[cunning perch]

ILV is not set on IMX yet. So, you're gonna have to wait a bit for full disclosure and more data. 🙂

[delicate plaza]

Awesome, that's it for my 100 questions haha very excited for the project now

[cunning perch]

Glad I could help you. Make sure you tip the waiter hahaha 😄

[tight magnet]

Gas price still absolutely ridiculous....

I had a question about using a TREZOR - I got one in the mail to arrive tomorrow and I was curious how staking will work if the funds are in the trezor wallet linked to Meta Mask - will there be any complications there?

[cunning perch]

You do it exactly like you do with MM except you have to conform TXs on Trezor. Make sure you set up your Trezor and connect/link it to MM and move your ILV/ETH to the MM-Trezor wallet on MM

[tight magnet]

Are there transaction fees to move from 1 MM account to a different MM account?

[cunning perch]

Yes. Transference gas

[tight magnet]

AHHHHHHHHHHHHHH 😤

[earnest shell]

omg this gas doesnt go down 😦

[tight magnet]

What is the token shortcut to add ILV again? I cant seem to find it

[cunning perch]

!contract if that's what you mean by “shortcuts”

[woven ibex]

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

[tight magnet]

yeah that will be it

Thank you - forgot the name for it

[humble depot]

question

as prices go up, the amount of ilv we recieve goes down right in the LP

[obsidian nebula]

Will V2 staking include some way of reducing gas for claiming and staking?

[delicate plaza]

Is there any benefit of using Metamask over trust wallet? I haven't used MM before and get a bit paranoid over it being a browser extension and I have no idea what else is on my computer that my kids have download haha

[cunning perch]

haha MM is the one that many use and many of us also use it alongside a Cold Wallet (like Ledger or Trezor). It's one f the best wallets and I've been using it for a long time without any issues. It's safe and very user friendly with great customer support. It's all a matter of comfort. The Extension is always very handy and easy to use, though your system seem to have been accessed by other ppl too (kids). Make sure you keep your seed safe in case your system was infected with Viruses

[cunning perch]

It might. They are working on it. Still need to wait for the full revised proposal.

[cunning perch]

You get rewards based on the ILV you hold and if you undergo IL then you might lose ILV and get fewer rewards. Also rewards distribution drop 3% every 2 weeks so also fewer rewards. But until that happens you are getting more rewards to compensate the loss

[obsidian nebula]

Any estimate on the ETA of that proposal and/or launch for V2?

[cunning perch]

Nope. Sorry 🙂

[warm flare]

If I am claiming from both pools and it is restaking in the ILV pool how many transactions total am I looking at in total?
2 per pool? One claim 1 restake?
And are fees always 21000 gas x gewi rate? Per transaction?

[high valve]

is their a way to know the number of adress using staking and average number of ILV coin per adress in both pool

[cunning perch]

You claim SLP rewards = 2 TX = one for ILV pool rewards and one for SLP rewards and based on the current Gwei

[ivory sun]

How are the gas fees recently? Last time I claimed reward/restaked for SLP it was around $74. I'm going to claim soon definitely not on these current high gas but would like to know how much roughly in case I find a time with less than 100/80 gwei

[cunning perch]

gas varies by the second. It's VERY high now. I suggest patience and do when it's cheaper unless you are a whale 🙂

[ivory sun]

Yeah aware of the fluctuations but just wondering if same gwei last month equals same dollar value for same gwei this month or is dependent on ETH value (meaning this month $ cost will be higher)

[cunning perch]

it's def due to the congestion but the up/down trend also affects it. ETH has scaling issues and therefore gets clogged easily and gas becomes devastating. So what you claim now, might be different from next week. This Sunday gas was high while last Sunday I claimed with $30

[ivory sun]

Thanks :). $30 is good haha

[cunning perch]

yeah. Personally have never paid more than $35 🙂

[ivory sun]

Sweet

[tight magnet]

That gives me hope ....but man I need that to happen soon so I can get on the train

[cunning perch]

gotta wait for the right moment. Last week it was $30 while this week it wasn't. Next week might get back down again or might not.

[tight magnet]

I will continue to scrounge up spare change and get it ready - If I have USD now - it would be best use of $$ to buy ILV direct right - from crypto.com ?

[cunning perch]

if you can take the 3% fee, sure.

[simple arch]

Hey hey, with Immutable X for in game purchases etc, will this also extend to staking to be cheaper Gas?

[digital ether]

Why is sILV half of iLv price?

[ivory sun]

$30-$35 gas is around which gwei in your experience? I believe it's really high this Sunday due to transition between months. Thanks

[cunning perch]

I've only claimed while gas was sub 40 Gwei

[ivory sun]

Thank you 🙂

[cunning perch]

Staking V2 will solve most of the issues stakers face now. It won't be on IMX. IMX is for the game.

[cunning perch]

Because the pool is not authentic and random ppl have made it. sILV in nature is untradable.

[digital ether]

So not endorsed by the ILV team but still legit? Sounds like a good deal if you want to buy land with sILV

[cunning perch]

Yeah. The token is legit, the pool is not. It is not tied to ILV. So please trade at your own discretion

[digital ether]

I think its a better deal to reinvest my claimed ILV for compounding effect and just buy sILV if i need to use them in game

[cunning perch]

If you claim ILV it will be locked for one year after the claim. There is no re-investing.

[cerulean sparrow]

If you don’t claim the ILV, it will just sit there until you decide to claim it at which point it’ll be locked in for a year, right? But that ILV is also not doing anything for you while it just accumulates unclaimed?

[cunning perch]

Unclaimed rewards will not do anything until you claim them. If you claim in form of ILV, it will get locked for one year (AKA vesting) while compound to your stake with the weight of 2x. If you claim in form of sILV, it will be released to be used in game/land sale/Illuvatar auction

[cerulean sparrow]

Ahhhh! Thanks! I think the vesting is pretty cool. Nice to have the option of ILV or getting sILV to use in game

[gentle axle]

If I have withdrawn multiple rewards, do each other compound independently while vesting? Or are they added together in the vesting?

[cunning perch]

ILV has one the best Tokenomics. Enjoy 😎

[cunning perch]

You can read my previous pms above for clarification and also this:

[woven ibex]

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

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

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

[cerulean sparrow]

Honestly, im just so glad I recently found this project. Like wow. Blown away instantly and knew that I had to be a part of this asap! So so exciting and I absolutely cannot wait to play this game. The trailer was amazing!!

[cunning perch]

I'm glad you liked it. 🙂 feel free to contribute as we are planning to have one of the best communities in Crypto/game space.

[cerulean sparrow]

Yes! I’m trying to get more active in this discord… still sifting through all the information and pinned stuff! I’ll be here for the long haul for sure

[meager prairie]

Arash. Where can I find out my current slp breakdown of ilv amount vs eth amount... assuming its changed in the last couple of months since I staked... due to the impermanent loss.

[gentle axle]

Honestly.. same for me! Since getting a full time job it's hard for me to play games now.. but definitely wanna become at least a casual player of Illuvium it looks amazing

[meager prairie]

Is it somewhere on sushiswap or is it up to me to math it out?

[autumn cloak]

I use zapper.fi it shows the breakdown of everything including stakes

[meager prairie]

Cool... thank you, I'll check it out

[cerulean sparrow]

💯, this couldn’t come at a better time cos I just quit my job! 🤣

[tame sluice]

lets hope that this goes to the moon and in 2 years we retire and sleep on a lambo.

[cerulean sparrow]

While still playing the game 😎

[gloomy gazelle]

Check some of the early pins in here. I’ll get a link too.

https://analytics.sushi.com/pairs/0x6a091a3406E0073C3CD6340122143009aDac0EDa

You can input your SLP entry and get all the data.

[earnest shell]

-0.47% of impermanent loss isnt that bad on my case.

[ember cairn]

Hello everybody from germany

[tame sluice]

willkommen

[fading kettle]

Hello, I have ILV and SLP staked using my metamask. I plan to purchase a hard wallet, is it possible to transfer ILV and SLP to the new wallet?

[autumn cloak]

If it is staked, no. In V2 staking you will be able to change wallets, but only if the stake is unlocked. Locked stakes will not be able to change wallet afaik

[fading kettle]

I see, thank you. Is there any way to increase security with the current wallet(metamask) im using?

[autumn cloak]

Just don't give out your seed phrase and don't connect your wallet to shady sites and you should be alright

[gloomy gazelle]

You could even create a different seeded wallet for all your other tokens and just use this one for ILV staking stuff. Not connecting it to anything else.

[hidden solar]

Hi. Who should I send DM to to ask for help?

[silent cedar]

We have a channel for that #❓❗〕community-help

[gloomy gazelle]

What’s the problem?

[gloomy gazelle]

Remember not to trust anyone that dms you first claiming to be assigned to help

[hidden solar]

I want to get help. I accidentally made a one-year staking yesterday. I want to cancel it

[gloomy gazelle]

Contracts are immutable. If the staking transaction has processed it’s locked in.

Enjoy the ride.

[hidden solar]

I'm really serious.

[silent cedar]

SLP or ILV? Just curious. I think a year from now you will thank your mistake though.

[next ruin]

So is pelican.

[glass carbon]

Let's just delete that block lmao

[gloomy gazelle]

Yeah me too. It’s defi you made the transaction.

[hidden solar]

It Ilv

[gloomy gazelle]

There’s nothing to be done. There’s one good option. Sit back and enjoy the ride. Watch until revdis comes. Any other option is just regret.

But 12 months from now… no regrets.

Shoot we’ve all made defi errors. But this won’t really be yours. I’d imagine it will turn out to be a happy accident. I’m sure you’ve got great reasons to want this undone but it can’t be. I’m just trying to encourage you to know that it will be ok.

[summer heath]

I wouldn't worry about the 1 year stake. I personally staked all of mine out for a year and im super excited to get a larger apy. Other projects may be short term. This project though i Honestly feel will come into its own more and more over the years so I personally think you made an error that will end up being an extremely smart move.

[fallow jay]

Hello! I'm new to Illuvium. Can someone guide me on how I can stake if I have Matic instead of ETH? Do I need to use ETH to buy ILV or can I use Matic as well?

[summer heath]

https://www.youtube.com/watch?v=C6YugU4zZr4&t=7s

[fallow jay]

Saw this, this has directions for ETH. Just scared about messing about while using Matic

[autumn cloak]

I don't know for sure, but I would guess you'd probably have to use ETH

[summer heath]

you can use ILV or ILV/ETH for the LP pool.

one pool uses ILV the other ILV/ETH for the LP pool. that video helped me

[summer heath]

I havent seen anyone use matic. I'm 99% sure matic wont work here

[fallow jay]

Well for the first one, I can use Matic to swap to ILV, correct?

[summer heath]

yes, any erc coin on sushi swap

[hot nimbus]

Ilv staking rev distribution after game begins? Till then 40% APY. Correct?

[delicate plaza]

Man I'm torn on which pool to stake in - any advice from people on here what they are doing?

[steady beacon]

Just staked SLP myself for 12 months 🧟‍♂️. In 12 months, do we split the SLP back into eth and ilv? Is that how it works?

[sacred cosmos]

It will be based on the value of eth and ilv at the time. So if SLP is worth 4k then you get 2k worth of eth and 2k worth of ILV. In todays prices thats going to be around 2ILV and .4ish eth?

[steady beacon]

Where do I see todays SLP price?

[elder dawn]

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

[brisk surge]

also interesting 🙂

[dusk gorge]

Will i get rev distribution if i stake SLP? And will the rev distribution based on full amount of SLP or just half SLP (50% ILV)?

[gloomy gazelle]

Rev dis will be for ILV you stake. So if it’s in SLP then you get just that 50% of your SLP counted as ILV.

[crisp canopy]

if i claim my ILV now, it will just compound to current ILV staked right? it will not go directly to my wallet?

[gloomy gazelle]

Claiming ILV does not go to your wallet directly. It must vest for 12 months. So yeah it’s like compounding your rewards.

[plain stratus]

As each batch of my $ILV that I locked for <12 months becomes unlocked, I’ve been relocking for 12 more months

[crisp canopy]

during staking v2, do we need to stake it again to choose where we will stake it for a period of time. or nothing is changed?

[gloomy gazelle]

I don’t understand the question.

The idea for v2 should not change the lockup periods for those currently staked a d locked

[loud furnace]

The website says you can stake sushi lp for 410% how is that possible? And how safe is it?

[gloomy gazelle]

!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

[gloomy gazelle]

The tokenonics link.

[gloomy gazelle]

#🥩〕staking message or this

TLDR: SLP pool has higher APY because it should. because there is more risk and it provides a valuable service to the DAO.

[boreal cape]

I know. Too good to be true right? But I did stake and it does yield that amount of reward. 👍🏼

[gloomy gazelle]

Y’all should have seen the apy months ago.

https://tenor.com/view/fist-gif-5303912

It’s all real

[loud furnace]

The website also mentions you can stake for 44% apy to stake ILV is this a less riskier option and secure?

[gloomy gazelle]

!lp read about IL

[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

[loud furnace]

Thanks for the links, I will research. Just not used to seeing apy's this high

[gloomy gazelle]

But when earning 300% in a year…. How much IL could really make a difference?

[gloomy gazelle]

Welcome to DEFI

[atomic quartz]

They won’t be in the 100s for too long. DYOR but this project is top notch and the tokenomics are incredible 🚀🚀🚀

[gloomy gazelle]

There’s 3million ILV tokens being given away to stakers during the 3 year distribution. APY is legit high.

[loud furnace]

Even at the flexible rate 205% is 200% more than what I'm used to...

[gloomy gazelle]

It’s a tool projects use to bootstrap their liquidity pools. If you look the eth/ILV pool on sushiswap is hecka deep.

[loud furnace]

I'm looking at the core pools. The flash pools are not easy to understand.

[gloomy gazelle]

Flash pools are for whales really. That can turn a profit in the short term.

Or close too it.

Core is for anyone looking for long term.

Imma get you a video link

[loud furnace]

What platform is used?

[gloomy gazelle]

https://youtu.be/7T2WzeXWC4k

[pale trellis]

I'm earning over 4 ILV per week. Will still be happy when it's 0.4 ILV per week tbh.

The more people stake the more the rewards and eventually redvis go down. But on the flip, more people staking means a higher ILV price.

[loud furnace]

What platform do you have to have in order to buy ILV and stake ILV?

[pale trellis]

Buy ETH and visit the Illuvium website. At the bottom of the home page is links to sushi swap.

[gloomy gazelle]

You need a defi wallet like metamask

!staking

[woven ibex]

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

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

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

[gloomy gazelle]

!buy

[woven ibex]

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

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

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

[loud furnace]

Ok cool. I have metamask

[pale trellis]

You can use Sushiswap to swap ETH for ILV. You use the Illuvium website to stake ILV. You need to do some more research about staking SLP as it requires more steps with Sushiswap.

[loud furnace]

So you stake ilv to get the 4 ilv per week?

[gloomy gazelle]

This dude has a bit of SLP staked to get 4 ILV per week.

[pale trellis]

Personally, I stake both ILV and SLP. Mostly SLP at this point.

[gloomy gazelle]

Not a small amount at least.

[pale trellis]

Yeah, I'm really bullish on this team. Most of my crypto allocation has gone to Illuvium.

[loud furnace]

So would you recommend investing on ilv and staking it more so than just keeping it in an exchange?

[pale trellis]

100%

[gloomy gazelle]

Definitely. It’s for staking. You should watch the video i posted

Or read some of the links.

[loud furnace]

I'm half way done, just paused it to ask more questions.

[gloomy gazelle]

There’s so much depth to all of this that it’s impossible to put it all in a few word in here.

Oh good

[loud furnace]

It seems the gas fees can get you though.

[pale trellis]

You wouldn’t just hold it when staking offers so many benefits. You can opt for a flexible contract so you can pull that out when you like. Check with @gloomy gazelle for specifics on that though. Also, warning there are many gas fees to consider along the way.

[loud furnace]

It would need to be a substantial amount for the gas fees to be miniscule

[gloomy gazelle]

The gas fees can be overcome with the rewards in the long term if you are smart about what you do and when.

[empty marsh]

In staking do you have to claim every day or can you wait a week then claim to save on gas

[cunning perch]

Since claiming is a manual process, you can decide to do it whenever you felt comfortable claiming. Just have a plan or you'll end up spending tons of gas

[dusk gorge]

Anyone know how much should i allocate for gas fees if stake for SLP? I worried i convert too much to ilv and not enough to pay for all the gas

[cunning perch]

I'd suggest having at least $500 ETH for stakes/claims. Might need more.

[ivory sun]

Is there a site similar to the defunct gasnow.org which shows historical gas price on hourly period?

[cunning perch]

the ones that I use are https://etherscan.io/gastracker or a cute one like https://txstreet.com/v/eth

[ivory sun]

Lol. The txstreet is hilarious. I was using etherscan.io and also now checked txstreet I don't seem to see any history?

[cunning perch]

Thare are some other sites like ETH gas station but nothing beats gasnow.org. we have to thank China for that lol. No it's based on rn, no history.

[ivory sun]

Aww. Thanks

[sand cloud]

I love txstreet, it's such a simple and brilliant way to illustrate how it works

[split geode]

Guys prob stupid question but will ask it anyway. When I pull out my stake once it’s times up will I pay gas?

[orchid summit]

i have 160$ worth of ilv on binance should i stake it?

[autumn cloak]

Yep. Hopefully by then ETH 2.0 will be up and gas won’t be an issue

[split geode]

Thanks mate. Just trying to work out what’s better I’ve been buying 2k of ilv daily and locking it in but I’m prob better to wait for a big chunk weekly and do 1 big one. The extra rewards I’m making wouldn’t cover the gas atm

[autumn cloak]

Yea. Definitely is more cost efficient to stake in big batches

[split geode]

Thanks mate tbh wasn’t thinking too much about the gas until I see everyone this week complaining about it lol

[next raft]

Hello! Newbie here on Discord & on Gas fees - so have not learnt how to search for topics discussed. Question: What is a 'reasonable' gas price and gas limit I should set on Metamask to stake? It's currently suggesting $168+ which is clearly too much?

[sacred cosmos]

Might want to wait till you have a bigger bag. The gas will probably be more than your stake amount

[sacred cosmos]

Some of us have been able to stake at below 50 GWEI which is around 75 usd? But recently gas has been astronomically high. Lowest ive seen is 89 GWEI

[raven stump]

Hi guys, I own atm 2ILV tokens (about 2k usd). In your opinion is it worth to stake atm, taking into account the gas fees? My plan is to stake for something like 6-12 months, but since I've heard there's many fees we have to take into account, I'm not sure what to do. Thanks in advance.

[sacred cosmos]

You can check the excel file for computations in the pinned messages here but at 2 ILV in ILV core pool you get around 0.00219 ILV a day.

Gas is around 150-200 usd right now. Plus claiming will cost you more gas fees too. So, its a matter of computing the total gas fees for staking, claiming, and withdrawing to see if its still worth the rewards. But also put into consideration the possible revdis you might get and the token price appreciation as well.

[raven stump]

what do you mean by revdis?

sorry I'm still a noob in this. And tyvm for the help!

[sand cloud]

100% of all the DAOs revenues (in game expenses, future merch, etc...) will be distributed to ILV stakers

[raven stump]

understood. tyvm again guys

[storm crescent]

Hello ! Do the rewards get included in the staking, or do I have to claim them and stake them again ? thank you so much !

[hushed valley]

If you claim ILV they are immediately locked/staked for a 1 year vesting schedule. If you claim sILV, you have access to them immediately.

[merry scaffold]

what risks are involved with staking ILV?

[hushed valley]

ILV goes down and you are unable to sell for the time period you locked in. Pretty standard risks(NFA)

[sacred cosmos]

@light current watch this informative video from our own Vetemor :; https://www.youtube.com/watch?v=7T2WzeXWC4k&t=53s

[sand cloud]

@light current Sushi is a token swapping platform that functions around liquidity pools. You can add liquidity to the ILV/ETH pool and get a sushi LP token in exchange. You can then stake that token to get 400% apy

[sacred cosmos]

If revdis is released sometime in the future its projected to be included in your current reward pool. But devs have mentioned that they will be updating the site to so that the rev dis is in a separate pool from the staked rewards. If this happens then I would reckon you need to claim it then pay fees for staking again. Hopefully when this happens Staking v2 is live and the fees are significantly lower

[light current]

oh so I have ILV 40+% also Sushi 400% .. that is good ... sure thanks !!!!

[clever lance]

Any chance of re-opening the LINK pool.. need to put it somewhere!

[flint relic]

hi question - when claiming rewards - is there a way to only claim slp rewards instead of both slp and ilv staking rewards?

[sand cloud]

No, the claimed ILV from slp goes to the ILV pool and the rewards have to be claimed to be able to stake more

[flint relic]

so when i clicked the claim ILV on my staking dashboard - the pop up box says claim rewards from both SLP and ILV staking pools. And then proceeds to ask me to approve two gas transactions

i have both ilv staked in the ilv pool and slp staked in the slp pool. but i have very little in the ilv pool which would result in an effective loss due to gas fees being higher that the amount of ilv claimed from the ilv pool

[wind walrus]

That's an issue with V1 that cannot be circumvented. You just need to wait until gas is low enough to make the TX worth it. V2 will fix some of these issues

[flint relic]

understood - thank you

[stoic ridge]

are staking contracts going to change? for me to claim my ILV + ILV/ETH it costs around ~$1800 @ 100 gwei

also my XYZ have been stuck, costs me $400+ to remove it.. shouldnt have put them in 😐

[next ruin]

https://ethgas.watch/

[ivory sun]

Thank you sir. It seems gas price is brutal for the past week or so. I'm trying the app Gweifications and set alerts for below 80 and below 50.

[next raft]

This is great! Thank you.

[next ruin]

Yeah, usually you can find a dip on Sundays, but that didn't happen this week.

[next raft]

Thank you. That's great to know as a benchmark cost.

[ivory sun]

You need a couple of transactions for staking depending on where you will stake

[glad path]

Is there any way I can save on gas fees when I withdraw my ILVs and claim my rewards? Waiting for low gas fees to stake again

[versed hare]

Hi guys. I havent really been tracking my rewards but i just noticed that i dont receive anything lately. Before i used to get .02 ilv per day. Is anyone encountering a similar issue? Or is this because the price is rallying too much.

[sacred cosmos]

Dont claim rewards use withdraw so that it triggers the claim in one go. Then just wait for low gas fees.

[ivory sun]

Save on gas = wait for it to go down

[sacred cosmos]

Its working for me. Where are you staked?

[ivory sun]

Maybe the rate slowed down. That's generally the case as more people stake

[glad path]

Thank you! I knew I read about this here before hehe Hopefully, after getting my gains this bull run, I'll be able to afford cheaper ETH and stake using SLP

[chrome turret]

Hey guys I'm pretty new to this and im trying to stake but when I enter my amount the bar still remains red and says "please enter amount"

[sacred cosmos]

What are pool are you staking in and did you connect the correct wallet?

[quick flare]

Hi can I view my staking on my mobile?

[chrome turret]

Yes my wallet is connected, metamask, and I'm not sure which one to stake in

[sacred cosmos]

Well if you have just ILV then its the ilv core pool but if youre planning to stake SLP you should have slp token in your wallet

[chrome turret]

Okay so I have to first grab ILV and stake it into the core pool?

[lean nest]

Yes you need to own ILV to stake ILV.

[sacred cosmos]

Let me direct you here:; https://www.youtube.com/watch?v=7T2WzeXWC4k&t=53s if you have questions ask it here after

[chrome turret]

Thank you guys I appreciate the help

[lean nest]

Can someone correct me on this.

If I stake 1 ILV into the ILV pool for 52 weeks (2X weight). Meaning my ILV is worth 2 ILV. The current APY is at 44%. So at the end of the 52 weeks I’ve earned 44% of 2 ILV? Even if I haven’t claimed anything?

I feel a bit lost regarding claiming and vesting even after a lot of research lol. Someone just have to make a simple summary I guess

[summer heath]

NIce!

[sacred cosmos]

the x2 is already computed in the 44% apy. If you stake unlocked i think its 22%?

[lean nest]

Yes flexible is 22%

[sacred cosmos]

Yeah so your ILV staked x.44 and not ILVx2 x.44

[versed hare]

On the core pool

[versed hare]

That is also my hunch but i have been stuck there for days now and im thinking there must be something wrong now.

[sacred cosmos]

try claiming it to see the other decimals just reject the transaction?

[versed hare]

Oh okies nice thinking there!

Ill try but it is still locked until December so not sure if it will work.

[sacred cosmos]

The rewards can be claimed right? if you click it the whole amount should be visible. From there you can jot it down and try again tomorrow to see if the numbers changed

[versed hare]

Ill try in my pc later tonight. There was a message that mobile might not show it accurately but you have a good point. Ill check it that way! Thanks!!

[old flower]

anyone know if you can stake from trust wallet ?

[sacred cosmos]

you should be able to since its supported in the site

[old flower]

one more question, has anyone made a calculation on what would be the minimum amount of ilv that should be put in sushi swap liquidity pool to actually be worth it ?

[sacred cosmos]

Its based on your gas fees tbh but check the calculator in the pinned messages. Expect around 300usd for fees. So your rewards based on the SLP you will stake should cover that fee plus claiming fees plus withdrawal fees. Some here have said that 1-2 SLP should be worth it

[light gorge]

Once my staking is unlocked will i still get reward for next day if i dont claim that?

[pulsar sonnet]

Has someone already claimed ILV from the Liquidity pool? It says that you'll get ILV and LP token. Is that correct?

[sacred cosmos]

I think you mean it will get the rewards from the ILV and LP reward pool

[pulsar sonnet]

Ah, so that means when I claim ILV from the Liquidity pool it'll also claim the ILV from the normal pool? Is that that right? Not sure 😅

[next raft]

Hi all - I've never played around with gas fees before, but I have to as it's insanely high now. What happens if I do a staking transaction and say set gas to 40 gwei but it never hits? Can I cancel the transaction and get my ILV back?

[frail eagle]

I went through the Sushi LP Core Pool and went to suchi . com to provide liquidity but when I bought with ETH it confirmed the transaction but only the fees went through? Is this normal?

This is the transaction on etherscan btw: https://etherscan.io/tx/0x8e27816adb6c32c37a75a4d47b1a5faa24ac133e95de99be5afa98245efad24f

[next ruin]

That's just approval to interact with the contract. Will need to approve the actual transaction to provide liquidity. Two trx / gas payments is normal.

[frail eagle]

So you`re saying that I have to pay that extreme gas fee again because the transaction did not go through?

[next ruin]

The transaction did go through, there are always two transactions. Contract approval and actually providing liquidity. The second will be higher if done at the same gas level. It's crazy right now.

[frail eagle]

Ah, well then that was all for nothing because even if it is the same gas price as I paid now I will only get 1/3 or less in actual liquidity. Makes it useless since it will take longer to accumulate the sum I put in than planting a tree and watch it grow money xD

[next ruin]

Sorry for that. Yeah, it takes a large amount to make it worthwhile - especially with the crazy high gas recently. For future reference, here's a calculator for gas costs that a community member put together. A lot of other good resources pinned in this channel as well. #🥩〕staking message

[dusty magnet]

can I buy ILV on Binance and send it to my Ledger for staking

[next ruin]

As long as you are not in the US (Binance.US does not have ILV), yes.

[frail eagle]

Well, damn. However, the funds I "bought" never showed up in my wallet or anything. I bought for 0.025 ETH (0.1087 ILV or something) but the transaction that went through only took 50$ of those 155$ i had so only the fees. Should I not have gotten at least the ILV too? I checked the calculator and yeah it tells you the cost of buying and staking, but nothing about having to buy twice or something like that to get the funds you bought first time?

[proven fossil]

I want to acquire some ILV/ETH LP tokens at Sushi.com - is the site down?

[cunning perch]

Nope. Working just fine

[next ruin]

I don't think that calculator takes into account the initial wallet approval transaction - before gas went crazy these last couple months, that amount was trivial but not anymore. If you look at your etherscan transaction, you will see that the "Transaction Action" is approving the token for trade - not the actual token swap. This transaction is one of my swaps for reference on what it would look like actually acquiring ILV. https://etherscan.io/tx/0x11235f21e2d476a8a70f950f284fbccee9a02247af906171fc7793cf1d7c79a4

[frail eagle]

Yeah it`s not my first time transfering via metamask in these high fees. I joined the axie community in late july/august and have been doing this for a couple of months, but the approval transaction is something completely new to me and the amount needed for that is insane. Of course that is the gas prices fault so I do not blame anyone other than me for not being to careful and ask about such stuff before. Thanks for your help and explanations so I could learn from my mistake:)

[next ruin]

No problem - sometimes we end up learning the hard way.

[pulsar sonnet]

Yes. Welcome to Ethereum.

[frail eagle]

Heh, been in the market since May. But yeah. Never gets old does it xD

[pulsar sonnet]

Haha, sadly not 😂

[pulsar sonnet]

The good thing is that paying for contract interaction is only 1 time. After that you'll only pay for the swaps, if you keep coming back doing multiple ones.

[frail tartan]

what are the staking rates today?

[next ruin]

These represent a full year lock - flexible stake is half this APY.

[golden marsh]

hey guys i know staking chainlink ended a few days ago, do my link tokens get sent to the original address (before staking)? i cant seem to locate them on the website

[cunning perch]

Hey. YOu can check them in the "vesting" section. You will have to withdraw them manually. When you click on "withdraw", the pool will ask you to claim your rewards first, so be advised it's a 2 TX process so do it when gas is cheaper.

[golden marsh]

ahh yes i see them now was under the wrong tab, i'l wait for gas to lower to withdraw thank you

[dusty magnet]

can locked ILV be directly converted to sILV to be used ingame? when the game is out

[cunning perch]

sILV is only a claimed reward, you cannot convert your staked ILV to sILV.

[frail tartan]

what is Sushi LP and why is it 4k %

[cunning perch]

!lp

[woven ibex]

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

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

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

[cunning perch]

you can find the answer to that question here in tokenomics

[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

[main ether]

hi friends, with LINK stake pool being complete, does that mean it's time to withdraw it?

[cunning perch]

Yep, you can withdraw. this should help you #🥩〕staking message

[main ether]

thank you!

[hot lynx]

Was it worth it , I am only in the LP and SLP ILV pools and locked

[agile fiber]

Damn, today was first time I had to pay over $200 to claim. Might have to stop claiming weekly.

[cunning perch]

Only whales claim weekly. Shouldn't be a problem for you 😜

[agile fiber]

In amount of ILV, I'm not a 🐳 , just a 🐟 😂

Basically just venting that gas is getting pricey. V2 will reduce cost for us on this?

[sand cloud]

Hey I'm just a shrimp ;_;

[agile fiber]

still ahead of 99.9% of the world 😎

[sand cloud]

(this emote about to be my #1)

[cunning perch]

V2 should mainly take SLP pool into account as they are claiming with 2 TX. Also it considers 2 year locking for new stakes for 2X weight. Though everything can change with the new proposal

[sand cloud]

Arash, could we get DAO/community driven merch started?

I know wrong channel but saw you here and wanted opinion xD

[cunning perch]

Oh it'll be happening for sure. I still need to get my ILV T-shirts that I won months ago first 😄

[agile fiber]

Sorry, I am referring to SLP claiming, should have stated that. so would essential cut my gas fees in half?

[cunning perch]

I'd say probably?! It is made to be gas-friendly, so there should be something like that involved

[sand cloud]

But the core team is busy so we could get it set up and make a proposal to the council, set it up for revdis and all

[cunning perch]

Merch will def play a role. Related to RevDis we should see if ppl will be buying with sILV and/or Eth

[supple meadow]

So with vesting, every time you claim rewards its locked up for 1year or just the first time? as in 1 year total vesting or each claim has 1 year

[next ruin]

One year from the time of claim, each claim has its own timer.

[supple meadow]

thank you

So do you get more rewards from vault buy back from the SLP? says ILV has a weight of 0.2 but the SLP has a weight of 0.8. Am I understanding this right

[elder parcel]

I'm finally getting a ledger wallet. Never used one before. When I connect my MM wallet to the ledger, will that have any effect on the ILV and SLP I already have staked via the existing MM wallet?

Any special considerations?

[next ruin]

The 0.8 / 0.2 is only the split of the yield farm rewards. The RevDis from the vault buyback is not weighted that way - just looks at tokens per pool and then allocates to tokens based on individual token weight.

[supple meadow]

So the SLP would receive less buyback reward because it has less tokens in it?

[next ruin]

You only get RevDis on your ILV tokens, regardless of pool. So yeah, SLP only gets RevDis on half of the total value. Another reason the YF APY is so high comparatively.

[supple meadow]

Ok thank you, I wanted to make sure I was clear.

[supple meadow]

Last thing, Do the tokens you have claimed and are vesting count tword RevDis?

[next ruin]

Claimed ILV rewards are counted as staked at 2x token weight while vesting. Yes.

[delicate plaza]

What's everyones thoughts on which staking pool to go for?

[old flower]

@delicate plaza I am also considering this

Gas fees are too high and I only have 2 illuvium în my bank right now

[next ruin]

If you've got enough initial investment to cover all of the gas, SLP is a no-brainer IMO. These days that means somewhere north of $5k, I think. And that is still being careful about when you transact.

[supple meadow]

This is great news, thank you for all your help

[delicate plaza]

Do you earn the high APY on the SLP token? Or just the ILV half of the stake?

[brisk surge]

The higher APY is on the ILV/ETH

[delicate plaza]

So your whole investment gets the APY if you the SLP staking pool?

[bitter delta]

Where staking ilv ?

[fallow gate]

Does 44% APY on ILV pools locked for 12 months means if i stake 12 ilv’s. At the end of the 12 months i get around 5 ILV + the rewards that i earn during this period which needs to be claimed and staked for 12 months?

[elder parcel]

Yes. The total of your SLP value is rewarded at the APY rate - paid in ILV tokens which are locked for 12 months from the time you claim the ILV rewards.

[elder parcel]

It's a bit more complicated than that. You also receive compounding rewards for the rewards you claim along the way. Plus the rewards rate is decreased at 3% each 2 weeks.
Best answer is there are staking rewards calculators around - I think in the pinned messages here.

[cyan rampart]

!staking - Staking is done through the official website. Make sure you're on the correct website, as there are phishing/scam websites kicking around.

[woven ibex]

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

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

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

[fallow gate]

Thank you for this. And do i need to claim this rewards regularly ?

[elder parcel]

Use the calculator to figure out a claiming strategy that balances ETH gas fees against the compounding yield from the rewards.

It's going to vary by how much you have staked.
And you're welcome. 😉

I'm still experimenting and fine-tuning, but I think twice a month is going to be optimal for me.

[fallow gate]

Much appreciated 🙏

[elder parcel]

[elder parcel]

Can anybody answer this for me?

[bitter delta]

Thank u
How much a apy?

[next ruin]

#🥩〕staking message

[cyan rampart]

You can see via the website what current APY is. It looks like with a 1 year lock, the ILV Core Pool is 44.65%, SLP is 419.11%. Halve those numbers for a flexible lock.

[bitter delta]

Thanks u
I have m'y ilv on binance 😅

[delicate plaza]

If you don't have a hardware wallet do you think Metamask is safe to use? Or is it better to use something different?

[brisk surge]

Yes just don't give your seed phrase to anyone

[next ruin]

If you have good habits about not giving out sensitive info and not clinking on sketchy links MetaMask alone is relatively safe.

[cyan rampart]

Metamask is pretty safe to use, just don't compromise your seed phrase. I've never heard of anyone having their MM compromised unless they input their seed on some sketchy website, or did screen sharing with some random person posing as customer support etc.

[bitter delta]

Metamask its good or Trust wallet
The popular wallet

[cyan rampart]

DYOR on wallet safety though, ultimately you are responsible for your security, and you need to understand how you could compromise your wallet.

!scam

[woven ibex]

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

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

[delicate plaza]

Thanks team!

[glad path]

Help regarding slp. How much Eth do I need to put it if I only have 3 ILVs? Thanks.

[silent cedar]

It's 50/50 by value

3*ILV price worth of ETH has to go in. You also need ETH for gas.

[glad path]

Thank you.

[silent cedar]

When you go to get sushi LP tokens on sushiswap and put in a value for one token, it should autofill the amount of the other token needed to match it.

[hot lynx]

3 lots of gas when doing staking fyi

[main ether]

was kinda dabbling with it and didnt stake much LINK so no, was not worth it for me

is it late to stake more ILV?

[hot lynx]

Ok I always wondered about the flash pools. I am only in the ILV pools

[hot lynx]

The claims need to be well spaced apart as the gas will chew into the claims. Also remember that the rewards are locked for 12 months if you claim ILV

[main ether]

so if i stake more ILV i wont be able to claim all of the rewards at once altogether? its based off of each staking transaction?

[final steppe]

Your rewards will pool together from all stakes you have vested. There will only be 1 pending balance for each pool, so if you have staked tokens in both the ILV/ETH pool and the ILV pool, you'll have two pending rewards balances.

[main ether]

understood!

[final steppe]

However, when you go to claim, every time you claim your rewards as ILV, that amount that you claim automatically gets vested in the ILV core pool and locked for 12 months before you can withdraw them..so keep that in mind as well 🙂 You may not be withdrawing the tokens to your wallet all at the same time

[main ether]

gotchaaa

[hot lynx]

A claim on SLP triggers that claim plus an auto claim on the LP so 2 X gas just keep that in mind also 👍🏻

[main ether]

thanks guys!

[bronze heart]

When is staking v2 coming

[brisk surge]

With profits from land sales going to staking holders, I wonder how much we will get in rewards

[hot lynx]

Np 👍🏻 welcome to ILV

[main ether]

been in here for awhile as a lurker haha but i appreciate it! it is by far the only play-to-earn gaming project im stoked for

[hot lynx]

Lurkers 🤣 I never get the lurking thing. So many channels and tokens. I am in and texting or I am just connected and not reading or lurking 👍🏻 welcome anyway thx for sharing

[silent cedar]

Same

[maiden wraith]

Noob question peeps. If i stake $10k worth of Illuvium, how much will I earn per day?

[silent cedar]

Check the pins here. There is an awesome spreadsheet and great info

[maiden wraith]

Dope. How can i check current APY?

[silent cedar]

https://staking.illuvium.io/staking/core

[gentle juniper]

Is there a minimum ILV to stake?

[cyan rampart]

No minimum, but gas prices mean that you'll have a soft limit at which it will be profitable to stake.

At current gas prices, a staking transaction could be $200+, so doing a small amount of ILV wouldn't make sense right now, for example.

[bitter delta]

what is better ILV or sushi LP ?
no risk for sushi LP ?

[ancient ginkgo]

you have to weight in impermanent loss

For example so far eth surge is less than ilvs however good so far

[bitter delta]

how many ilv i need for locked a staking ? 0.25 that's enough ?

[ancient ginkgo]

caus ilv staking apy got decimated

[brazen egret]

That's definitely not enough. Fees are gonna eat you up

[bitter delta]

ok thank, i just want a minimal risk 😂

[ancient ginkgo]

ok stake ilv

[bitter delta]

ok i see, so i wait for token UP and i sell him

[gentle juniper]

Just to get the ILV in the first place I'm lookin at 300$ and then another couple hundred to stake.. feel I am too poor to board the ilv train. I've been checking daily for lower gas fees and the price of ILV has doubled since I've been trying and it hurts my soul

[bitter delta]

i doesn't have enough, too expensive

[cyan rampart]

With current gas, patience can be your friend. Either that, or use a CEX, hodl your ILV, and stake later when you've built a stack and/or when gas is cheaper.

[jaunty cairn]

Thats what I thought when I got in and staked initially.. but said screw it and now I am happy I did that. But ILV was only 166. so I am sitting well

[brazen egret]

Yea i'd rather hold the 0.25 ILV

[ancient ginkgo]

It seems ilv def on surge trajectory

and gas problem won't go away unless there is a crash in eth

2.0 won't come until at least mid 2022 imao, and don't expect rich people to be mindful of gas fee, they just tend to bite the loss gas fee have been constant ly rising

[bronze heart]

I staked some LINK a while back in the flash pool

Do I get the LINK back since the flash pool is over ?

[next ruin]

You'll have to manually withdraw it on the "Vesting" tab - you'll be prompted to claim any pending rewards at that time AFAIK.

[bronze heart]

ahh got it thank you

[lean juniper]

How the heck to I stake with 1inch?

[hot lynx]

Not possible

[lean juniper]

So just make a MetaMask wallet and stake from there?
Can you stake just Ethereum?

[cyan rampart]

You can't stake in Illuvium's pools anywhere but through the official website.

!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

[hot lynx]

Buy it on a CeX and hold until gas ⛽ becomes more friendly for staking 👍🏻

[lean juniper]

Okay thank you. I’ll lock in with MetaMask. Is that a good one to lock in with ?

[cyan rampart]

Metamask is good, yes. Just make sure to do your own research on wallet security. If you compromise your seed phrase or wallet, due to the nature of crypto, no one can help you recover it. You're in charge of your own security in this space.

[hot lynx]

Just to let you know the ILV website is crashing on the connect wallet options .. has been for the past hour .not possible on mobile and semi possible to limited on desktop

[lean juniper]

Thank you guys. What’s better. Staking or buying the land next week?

[cyan rampart]

Do you mind letting @hexed bough know exactly what's going on? It's well beyond my capacity to troubleshoot that or provide any insight.

[next ruin]

Totally up to you. Land sale is almost certainly at least a few weeks away though.

[brazen egret]

Yes i had the same issue this morning

[hot lynx]

Sure Np 👍🏻 just want staking people to also know the issue. I will tech talk with @hexed bough

[clever swan]

did council give greenlight to stake v2?

[cyan rampart]

The v2 staking proposal is still in revision AFAIK. Once it's ready, it will be put to a vote.

[clever swan]

ah thanks for the reply. Do you know if the code is basically ready to go after the vote?

[hot lynx]

I think V2 is months away imo

[cyan rampart]

Development on v2 is ongoing. I can't provide any insight as to how far along the team is on it, but it IS being worked on.

[elder parcel]

If I withdraw my flexible SLP stake and then restake SLP locked for 1 year, I would only pay gas fees, correct?
Impermanent loss wouldn't be a factor unless I break the SLP tokens... is this right?

[next ruin]

Correct. IL only becomes permanent when you withdraw from the liquidity pool.

[elder parcel]

@next ruin That's what I figured, but it's nice to have confirmation. Thanks!

[half sage]

Sorry if you’ve answered, but whats a good amount to stake currently so it’ll be profitable

[cyan rampart]

There are calculators in the pinned messages that can help you figure that out. A lot also depends on your personal perspective on ILV token performance into the future.

I can't tell you a hard amount, but with gas at current prices, I'll ballpark it at $1500+-ish?

[half sage]

Thanks blickter

[elder parcel]

@next ruin (or anybody who knows) If I set up a ledger on an existing MM wallet that's connected to pre-existing staked ILV & SLP, will the staked tokens be connected to the ledger or only the MM wallet?

[umbral egret]

Hey guys , cant find the graph showing the decreasing distribution of the rewards ( was in the pinned messages , but not anymore ) ... Some one know where i can find it ? cheers

[next ruin]

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

[next ruin]

No experience myself, sorry. I'm sure someone knows.

[elder parcel]

Thanks anyway. Seems like this is a tough question. 😉

[hot lynx]

3% every 2 weeks approx

[vital kayak]

They added more options. Are you tapping right button? I didn’t realize until after 10 mins trying then took a solid look and was like “OH! Wrong button!”

[hot lynx]

Hi ye I can get it to work on some buttons. It's just that it's not working on all buttons and that might be an issue for new people. So wanted to note it

[vital kayak]

The big thing no one mentions is on iPhone safari you need to refresh/reconnect wallet 3 times until it shows current numbers

[hot lynx]

Yes also a problem on my Samsung 👍🏻 . None of it fixes the $500 current gas price 👀 🤣

[north wing]

will we get ILV staking OFF eth net

staking requires 1/4 of my bag at this point

[cyan rampart]

This has been discussed in the past, but due to the nature of staking I think it will be really difficult to do so.

Staking v2 does have some gas optimizations though. The original IIP is pinned in this channel.

[north wing]

thanks once again ure a boss 😄

[feral briar]

how come it says gas to withdraw is 118 and then when I confirm it, it says I need to add a new address and its another $200?

[brazen egret]

If you're staked in the LP pool, its a double transaction as you're claiming the rewards from the sushi lp pool as well as the main ILV pool

[radiant scroll]

Need help, I have 1 ILV in my binance. I want to stake it but I've never staked outside of binance before. I have a trezor, but i'm not sure how to use it to stake

[hot lynx]

With double gas right now it's around $500 in Gas ⛽⛽

[brazen egret]

I don't think it's worth staking with 1 ILV

Gas fees will kill you.

[next ruin]

If you are staking ILV only there is no impermanent loss risk. Only gas.

[sturdy wren]

The MM wallet. You would have to restore your wallet with the seed on that ledger

[radiant scroll]

ah

[brazen egret]

Yea sorry i meant for the LP pool

[delicate plaza]

Is it worth staking 4k of eth and 4k of ILV in SPL stake pool? What happens if ETH tanks in a market crash does that mean we lose everything due to impermanent loss?

[elder parcel]

Ah thanks for the answer. To be clear, are you saying that if I restore the wallet on the ledger with the MM seed phrase, the staked tokens would be connected to the ledger?

[sturdy wren]

Correct. But you would still need Metamask to act as a proxy. So migrate your staked seed to the wallet and make a new MM to use as a proxy to connect to the staking website

[radiant scroll]

do I use ERC20 if I transfer my ILV to my wallet though?

[sturdy wren]

Unless you have a Trezor, I think they can connect directly but I am not completely sure

[brazen egret]

Yep

[elder parcel]

Okay, thanks. Hmmm... based on that I think I would have to wait for v2 of ILV staking then because we can't change wallets in v1.

[radiant scroll]

okay lets say I stake 5 ILV, how much would that cost right now?

[sturdy wren]

Yea you can do that. But technically u can migrate your wallet to the ledger now and use a different/new Metamask as a proxy. Then you connect your ledger to that. So basically your new Metamask only acts as a bridge to your hardware wallet with your old wallet address, which should be recognized

[magic ledge]

With the current price, what is the best amount of ILV to redeem if you have both pools? Previously it was 8 ilv

[dark bear]

That's a steal! Why so cheap?? Is that only ILV claim?

[magic ledge]

Want to maximise ilvs

[elder parcel]

Aha! I was misunderstanding. I get it now.
Even so, I wish I had some way to test it that wouldn't risk a chunk that's bigger than I want to lose! lol

Thanks for the explanations

[atomic lagoon]

about $5,500+

[radiant scroll]

this doesnt make sense

[elder parcel]

@radiant scroll Do you mean in ETH gas?

[radiant scroll]

no like why is it so high

[atomic lagoon]

the price of 1 ilv now is $1110+

[radiant scroll]

no I have 5 ILV, how much to have it staked.

[sturdy wren]

You can test it out and otherwise go back to MM again

[atomic lagoon]

the gas fee can be between $100 - $150 for staking

[radiant scroll]

thank you,

[scenic axle]

I believe it free to stake but it cost eth gas fees to redeem and that depends on how high gas fees are at the time of redeeming the rewards.

[atomic lagoon]

wait for the Gwei to go down below 100 if you want to pay less gas fee... may be Gwei around 60.

[elder parcel]

Oh, right... I could just "recover" the wallet in MM again, right?
Doh!

[sturdy wren]

correct

[elder parcel]

Thanks very much

[sturdy wren]

no worries

[delicate plaza]

If I do a locked stake in the LP for 3 months - after that 3 months is over can I convert my holdings back into ETH and ILV?

[spice narwhal]

how can we restake with SUSHI LP

[gloomy gazelle]

Restake? What do you mean?

!lp

[woven ibex]

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

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

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

[pearl drum]

not sure If I should stake for a whole year.

If I lock my illuvium up can i cash out the staked rewards while my initial staked amount is locked up?

[next ruin]

You can claim rewards as ILV or sILV. ILV rewards are locked for 12 months from the time you claim them earning additional rewards at 2x token weight. sILV is unlocked immediately.

[gloomy gazelle]

!sILV is the only way to get the rewards immediately.

[woven ibex]

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

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

[pearl drum]

ok thanks

Wait ILV is only earned by doing a 12 month lockup?

I cant do the flexible one for earning that actual illuvium token?

[next ruin]

Staking locked or flexible doesn't matter, both can claim ILV or sILV. When you claim ILV those claimed tokens are locked for 12 months from that point.

[pearl drum]

Sweet I'll probably stay in the flexible. 1 year is a long ass time. That yield is nice though.

[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.

[pearl drum]

Things move too fast in crypto

[delicate plaza]

Can anyone help me with this?

[next ruin]

Yes, when your lock ends you can withdraw your SLP and take it back to SushiSwap to exchange.

[cyan rampart]

This is correct - the proportions of ILV/ETH will change with the market though. Your SLP token will be tradable for ILV + ETH, it will almost certainly be in different amounts than when you put it in though.

[pearl drum]

I'm guessing ilv will shoot up much more than the sushi in proportion

So would people have to rebalance it?

[cyan rampart]

Liquidity Pools rebalance it automatically.

A LP always tries to maintain equal value of both assets.

[pearl drum]

gotcha thanks. I'm learning haha

[atomic lagoon]

so may i check if ilv goes up more the ETH, i will get less ilv and more ETH than original?

[cyan rampart]

If ILV moons, you'll get less ILV back than you put in, and more ETH than you put in. This is commonly called Impermanent Loss (IL)

[strange shuttle]

Should I restake my ILV in the SLP pool this time around?

[atomic lagoon]

got it. Thank you!

[next ruin]

https://app.apy.vision/pools/sushiswap_eth-ILV-ETH-pool-0x6a091a3406e0073c3cd6340122143009adac0eda

[strange shuttle]

Do you get the adjusted amount in ETH? So did you actually lose any money in this scenario?

[next ruin]

If neither token goes down, you won't lose money. You just won't make as much as you would by just holding the token that mooned. https://academy.binance.com/en/articles/impermanent-loss-explained

[cyan rampart]

You lose money compared to HODLing, but not like, net loss. You enter net loss scenario when one token goes to 0, or both drop compared to the buy-in price.

[atomic lagoon]

sorry. I am abit more confused. if i staked 5ilv and equal amount of ETH when ilv price was $800 in SLP and 1 ETH price was $4000, will i get back equal value in total amount of current value of ilv at the end of the SLP pool period or the original amount of ilv and ETH which was about $8000?

[next ruin]

Neither, exactly. Your SLP token is basically your "share" of the pool and the SLP token fluctuates based on both token's movement. 1 SLP is worth $4,578 now. If you pulled your liquidity you would get this value * your SLP tokens. Half in ILV, half in Eth.

[atomic lagoon]

I see... so the total value i will get is based on the SLP price at that moment. Thank you!

[next ruin]

https://tenor.com/view/michael-scott-wink-yes-no-problem-gif-16355545

[loud ingot]

Are most people staking slp?

[summer heath]

Yup, it’s pretty awesome APY

[summer heath]

If you check out Rahlord and Vetemor staking videos in pinned. They describe it pretty great (excuse my spelling of the names)

[shrewd river]

where do I see this LP Token Price snapshot?

[next ruin]

I pulled it from the link here. #🥩〕staking message

[delicate plaza]

I'm going to stake into the SLP pool. I already have the SLV and ILV tokens in my MM wallet - how many times am I going to have to do gas fees to finalize everything?

[shrewd river]

thats cool ty sir!

[ashen oak]

Can someone explain the 1.4 billion staked? Is that the amount of rewards?

[cyan rampart]

That figure includes the SLP (50/50 ETH/ILV) and all vesting (claimed) rewards.

[turbid igloo]

why does staking gas fee reach more than the amount stake?

[ashen oak]

Right. And when do rewards begin to unlock. And when they do will that begin to count to unlocked supply, therefore market cap increase? Provided the token doesn’t tank

[boreal cape]

Sorry. What do you mean by “moon”?

[next ruin]

https://tenor.com/view/stocks-only-go-up-sogu-hulk-penis-stonks-v-shape-recovery-gif-18971989

[boreal cape]

Ow-Ay-See 😁

[radiant scroll]

so i have my ILV in my trezor. when I click stake it says.
"Before you can continue, you'll first need to approve your wallet to stake your tokens.

Click the button below and then confirm in your wallet when prompted."
When I click approve it says Approve ILV spend and nothing happens

[gloomy gazelle]

Ethereum network fees

[gloomy gazelle]

The market cap might start to include the reward tokens that start to unlock after their 12 month vesting period ends. But I’m not sure things like CoinGecko will pick up on the difference of vesting or fully vested until after stakers start to withdraw their rewards. But maybe they’ll have it figured out.

[gloomy gazelle]

Are you sure you don’t have some other tx pending?

[radiant scroll]

none

[turbid igloo]

I stake $350 then I get a gas of $360 so this is normal? Other tokens doesn't charge this much gas

[gloomy gazelle]

Fees are based on complexity of the transaction’s interaction with a contract

[radiant scroll]

Trezor is connected but still doesnt show my ILV

[gloomy gazelle]

I don’t know much of anything about trezor. Sorry

[alpine chasm]

can ILV stake? Where and how to stake ILV?

[carmine drum]

!staking

[woven ibex]

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

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

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

[gloomy gazelle]

https://tenor.com/view/mod-discord-mod-mods-discord-mods-get-this-man-gif-21056745

[carmine drum]

lunch break bro :v

[delicate plaza]

Can anyone help me with this? Trying to calculate how much ETH I need to send to MM for gas fees

I can't seem to find the gas calculator in the pinned comments either

[gloomy gazelle]

#🥩〕staking message

[gloomy gazelle]

!lp you need the eth/ILV from providing liquidity for sushi pool

[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

[white rapids]

Question:
Can i stake in both the flexible and locked pool for SLP at the same time? Planning to split a portion of my total in both

[gloomy gazelle]

You’ll need to do different transactions.

You’ll probably need to claim your rewards earned when you deposit your second staking batch. It’s not ideal but it’s how it works until v2 is approved and implemented

[white rapids]

I see, perfect, thanks for the explanation bud

[modest crown]

where can i find the current price for SLP?

[slender gorge]

Hey I just claimed 1.02 ILV rewards for sILV & it only gave me 1 sILV for token? So now if I try to sell a portion it only gives me half of what I actually was rewarded? Wth why didn’t I get 2 sILV for the actual $ amount I had? Feel like I got ripped off

[gritty socket]

when you claim it in ILV it will be locked for a year. when you claim it for sILV you will have it instantly. Trading sILV isn't officially supported by the team but made by random other people.

[slender gorge]

It should give a warning ⚠️ do you want 1 ILV or 1 sILV cus it didn’t give me the $$$ equivalent

[gloomy gazelle]

sILV only is pegged to ILV when it is used in the game or to buy from the game sales

[slender gorge]

Ilv Rewards are still Locked for a year?

[gloomy gazelle]

Yeah. That’s why the price is different.

sILV will never trade at full ILV price. It’s not the same token. But it will be worth the same ILV price when used to pay for in game things.

[slender gorge]

But that doesn’t do anything to the money I was rewarded. I earned $1150 but now it’s worth $550 when I claimed it, I don’t get that

[gloomy gazelle]

It’s a gift card. Your gift card is worth what it’s worth. A token or whatever. But that doesn’t mean everyone will pay that much for your gift card if you want to sell it.

[gritty socket]

within your ILluvium dashboard the value should say $1150 because when you use it ingame ( For example buy land later this month) it will have the same $ value as one ILV. When you try to sell your sILV on the secondary market people will only buy it for half the price. It is less valuable than ILV because we don't have to wait a year to get it from rewards

[gloomy gazelle]

The staking rewards don’t tell you how much value you’re claiming anyways. It just says how many tokens.

[slender gorge]

Oh ok this makes sense. So reward value is only in game value. Ahh ok

[gritty socket]

Glad I could help @slender gorge

[gloomy gazelle]

!silv

[woven ibex]

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

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

[delicate plaza]

Hmm do I stake for SLP or wait for gas fees to go down

[brisk surge]

Im unfortunately waiting for gas fees to go down, in a meantime im margin buy ILV to keep up with profits xd

[visual arch]

Just stake now, the ROI you will have in 1-2 years will make the fees look like petty cents

[delicate plaza]

540 USD is insane though. That's 1/8 of my imvestment

[boreal cape]

You mean gas fee for staking SLP is 540 usd?

[ivory bison]

Gas fees aren’t fun that’s for sure or wait till it dies off and then pay only like 150-200

[boreal cape]

This past week, gas is insane. Good thing I staked 2 weeks ago. But I think it will still go down. Time it on a weekend.

[delicate plaza]

Yea using the calculator pinned it says its $540 to buy ilv, get the slp token and then stake

[stoic ridge]

@gloomy gazelle any idea when V2 staking is going live? my claiming is now over $1800 😬

[delicate plaza]

oh my days that is huge

[stoic ridge]

thats if its 95 gwei.. at 150ish its yeah way higher

[delicate plaza]

why so much to claim? shouldn't it be a single Gas transaction?

[stoic ridge]

been staking since day 1, so i think the contract calls all the other times ive claimed 2.. when in reality i'd rather it not, given the gas $

[vital kayak]

See I always say IDGAF about gas fees and people mock my comments because they are clueless

[fossil dust]

!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

[tight jay]

If I stake ILV in a locked pool, will it automatically enter the flexible pool after my selected lock duration completes?

[regal marten]

Afaik your stake will keep getting rewards as it did before. The only thing that changes is that you will be able to take your stake out.

[cunning perch]

No it will stay there (unless you are required to migrate to V2) or withdraw

[willow dawn]

hi guys i have 1 illuvium, is good if i staking this or is too low?

[cunning perch]

Hey. Personally I advise against it, unless you are here to stay long term cuz the rewards will not be that substantial and you will have to pay gas for every claim. But you have to decide for your self

[brisk surge]

Hello guys, a little question : I want to add some SLP in my SLP pool, i have already 2 SLP, i want also to claim sILV to but land : Should i stake SLP then the system will require me to claim and i will be able to claim sILV right ??

[willow dawn]

ok than if i will play the game isnt necessari to stake it? how many illuvium are good to stake..the minimun?

[cunning perch]

well since you are going to stake a new batch anyway, I suggest staking it first. If it required you to claim rewards first, then you can choose sILV as per your request

[cunning perch]

you do not need ILV to play. If you wanna earn you can just use ETH. Personally I wouldn't suggest under $3k in either pool, but still, it's a personal opinion. 🙂

[brisk surge]

Ok because i rememeber that when u want to stake another bag of SLP u must claim the rewards but if i can claim in sILV at this moment, perfect 🙂

[cunning perch]

sure. you are still going to stake something new, so you will have the choice to claim first. but be watchful of gas atm

[brisk surge]

yes... 1 week that i wait for gas fees low... i'm bored more and more about that, i have 9k to put into but if i need to pay 1k fees it's sooo worthless

[cunning perch]

yes that's exactly my point. 🙂

[brisk surge]

I dont have 10 years of experience in crypto but how since 1 week and more gas are so high... they will be decrease when market confirm a bear or bull market ?? it can be high for long time no ?? because if i need to wait 1 month i lose 1month of staking so '-'-'-''-''''

[cunning perch]

gas being high started from the EIP-1559 upgrade to burn ETH, and it's being burned now so it's high + the scalability issue that ETH has and it gets congested pretty quick and ETH 2.0 is planning to fix that. That + bear market will probably drop gas to cents. But anyway, if you stake that mich, you will be paid back all the gas money u spend because you not only get YF rewards, you also get RevDis in the future and since you are already in SLP, then you will for sure be compensated

[willow dawn]

than for you is better stake now or w8 ? until gas are to low? or the rewards change?

[cunning perch]

Lowe gas is def a good option. The rewards will also go down by time passing.

[brisk surge]

sure but if i lose 600$ in fees now, who know 600$ should be in 3 years ^^ just by being on the SLP it will earn much that the compensation i will have if i do now i mean, i dont now what to do, i've never seen gas so high in so long period.. '-'

[cunning perch]

I totally understand. Well, November is an UP month for crypto and me might see some gas wars here and there. I just hope it comes down for the sake of all our pockets lol

[willow dawn]

mmm ok than i think not good to stake

[brisk surge]

i hope so... so at which gas price i must do this u think ? Habitually i'm waiting for 40 but now it's always at 150 sooo... i wait at 80 or ??

[cunning perch]

yeah probably, but if it goes back to 80-70 then it might go lower in the weekend. Still a risk if you're willing to take.

[thin ruin]

can I sell $sILV atm ?

[cunning perch]

on Uniswap and half-price. It's an unofficial pool make by random whales. So please trade at your own discretion as it is not tied to ILV project in any way.

[thin ruin]

do you mind explain a little bit more since Im new at staking and have no idea what do you mean by unofficial pool

[brisk surge]

Ok i will wait another week.. an other integorration that i have since many weeks.
I'm looking for a land. Should i claim my 6 ilv in sILV to buy the land (and put 9k in SLP more, restake after etc) or should i buy sILV with my 9k dollars now, buy land and stake SLP after and add to my SLP already stake (excuse my english bro)

[cunning perch]

sILV is untradable by nature meaning you can only get it through staking ILV and claiming your rewards in form of sILV and that it can only be used in the game/land sale/Illuvatar auction. So, sILV being sold on Open Market defeats the purpose and therefore it won't officialy be sellable. Now, to make fast liquidity, random ppl have created an sILV pool (cuz this is DeFi) and selling it half-price as an incentive that sound attractive for ppl to buy.

[thin ruin]

I see

[cunning perch]

I had quite difficulty understanding the point, BUT, if you are willing to join land sale, then def make a plan for it. Sometimes the best plan is not engaging. But this is the decision you have to decide, I myself will for sure go for land as I can compromise a bit, but each person has his own way of making plans

[brisk surge]

wow wow wow so if i buy sILV in open market i will dont be able to buy land with ,

[cunning perch]

I'm glad you do 😄

[thin ruin]

thanks, for great explanation!

[cunning perch]

you can buy land with it. Just saying it's unauthorised so if ppl get scammed by using wrong addresses, then it's their fault as nothing is tied to the ILV team

[thin ruin]

and in order to do it I can sell it on uniswap is it right ?

Can I see the reward I would get before do staking ? or I can see how much I can get after staking

[cunning perch]

yes. By adding the right token address

[brisk surge]

hey guys

[cunning perch]

there should be calculators pined in pinnend messages here that can help you

[thin ruin]

okee

[brisk surge]

Sorry, I’ll explain myself in a better way with a translator:
I currently have 2 SLP stake, with 6 ILV to claim. I want to add $9k to this project in the form of SLP but I also want to buy land.
Should I buy the land by claiming sILV from my staking or should I buy sILV on the open market, buy the land then convert my sILV to SLP?
Thank you

You talk about a scam if we put the wrong adress but if we put the right adress we can be scammed to if this is unofficial ?

[thin ruin]

In the calculator there’s SLP variable which coin is that ? is it from axie ?

[atomic lagoon]

My personal advice is to buy the land first with the silv reward. 🙂

[cunning perch]

Wrong addresses might result in fund loss.So I encourage you if you wanna trade, please use the correct addresses. Buying cheaper sILV sounds like a no brainer, but you should do it carefully. (I myself claimed my rewards in sILV for some reasons) We never encourage anyone to do something. We just point out the facts so you can decide better.

[cunning perch]

no. SLP is (Sushi Liquidity Pool token)

[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

[delicate plaza]

I'm torn between Staking 4K or trying for land - thoughts?

[cunning perch]

!contract

[woven ibex]

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

[cunning perch]

for that you can ask in #🎮〕illuvium-zero and ppl will share their opinions with you although NO ONE will give you Financial Advice. So please make your own decision and follow no ones foot steps

[brisk surge]

Thank's guys, i think will claim sILV rewards and do it like that, but if this unofficial why u share the contract etc ?? it's definitly the real sILV no ?? i really dont understand this thing ^^

[thin ruin]

whats staking v2

[cunning perch]

The token out there **is **authentic, the pool is not. We share it cuz it's better to hear it from Mods than random ppl trying to scam you. Cuz you will for sure hear it form ppl.

[brisk surge]

ok but you mean the staking pool is not authentic ?? if i only buy it and hold in my metamask ?

[cunning perch]

Staking Version 2 will help minimize gas and will give you some other options as well. you can find the initial proposal in #809220563397902346 but keep in mind many things might change with the new and revised proposal

[cunning perch]

No. I'm taking about the sILV pool on Uniswap. Not our own pool 🙂

[late tide]

Cant connect my trust wallet to staking site today. Never had any problems before with connecting.
Anyone else having this issue?

[thin ruin]

where can I find contract adress for sILV

[cunning perch]

#🥩〕staking message

[brisk surge]

dragg up this conversation ^^ since 5mn arash give it

[thin ruin]

thankss

[brisk surge]

Ok.. I really dont understand so i will do it by the official claimed sILV i think.. '-' i have heard that it could be worth to buy sILV now to sell them at the price of ILV in landsale is it true ?

[cunning perch]

Just tried it on phone. Works perfectly

[cunning perch]

def a rumor that might/might not be true. What price it will hold at the point of the sale is pure speculation

[thin ruin]

what do you recommend in order to claim rewards from staking, how much do I have to reserve ETH in my wallet

[cunning perch]

I would sugget holding at least $300 depending on the pool. Keeping at least $500 should be fine if you can time your claims and do when gas is cheap

[thin ruin]

does the amount of rewards affect the gas fee ?

[cunning perch]

No. Rewards are what you see in your "pending rewards" section

[thin ruin]

I mean if I stake more, when I claim rewards does it affect the gas fee

[brisk surge]

Yes i will not gambling, this project is so perfect and have so great opportunity, i will do it legally and safely 🙂 Than'ks for your time arash 🙂 i will go talk about landsale in an other channel 🙂 thank's

[cunning perch]

No you staking more will give you more rewards. Gas is when you want sign a contract.

[cunning perch]

Sure 🙂 happy to help

[thin ruin]

I read above that when we claim rewards there’s another gas fee is it true ? really sorry for botherinh

[cunning perch]

Whenever you claim rewards, you pay gas. Now claiming ILV pool rewards is one TX (1 gas), but claiming SLP rewards is 2 TX (2 gas)

[thin ruin]

I see, just want to clarify so we pay gas fee 2 times ? when we make initial staking which is the contact and when we claim the rewards

[ripe orbit]

Can I buy sILV directly on Uniswap??

[craggy field]

Yes! but be careful when you do it that you don't buy a rip-off token. Check the pinned messages for the accurate token address!

[cunning perch]

Let me break it down to you like this:

1. To Transfer/Swap/Stake/Withdraw/Claim/Approve/Migrate all cost gas.

(I assume ILV and ETH is in your wallet)

2. If you are planning to stake in the ILV pool, you approve the token (1 gas) and stake (1 gas) and for each claims you pay (1 gas)

3. If you are planning to stake in LP (SLP), After adding ETH and ILV to Sushi LP (1 or 2 gas) you have to take the SLP token that is given to you by Sushi, approve it on ILV website (1 gas) and stake it (1 gas). Now, if you have staked SLP and wanna claim your rewards, you click on claim SLP, and you pay (1 gas) for ILV pool rewards + (1 gas) for SLP rewards.

4. If you wanna stake another SLP, you pay (1gas) to claim the rewards + (1 gas) to stake the SLP.....

man that was long 😄

[thin ruin]

hahah sorrryyy! really helpful tho wow thats a lot of gas fee man

[cunning perch]

Yes so be careful and def take gas into account

[thin ruin]

I looked into pinned message about the staking calculator and I have no idea how to read the excel

[ripe orbit]

Can I claim sILV at the end of the Locked time???? to avoid paying multiple times gas????

[elfin goblet]

Just locked in 1 ILV for a year LET'S GOOOO

[thin ruin]

to simplify if I want to stake for 1 year, with 44% APY, do you think whats the minimum ILV so that I dont occur losses from gas fee

[thin ruin]

is it profitable already if you take acc the gas fee by just staking 1 ILV ?

[cunning perch]

you can claim sILV whenever you feel like it and it goes directly to your wallet

[thin ruin]

if its too complicated you dont have to calculate it for me tho dont want to bother you further

[cunning perch]

hmmm....personal opinion: anything more than $3-4k should be good.

[thin ruin]

lets sayy with $100 gas fee for each token

[thin ruin]

wow thats 3 or 4 ILv isnt it, has it include 2x weight ?

[cunning perch]

I claim when gas = 1% of the pending rewards value in $

this is what I do every time

[elfin goblet]

At 44% I'll make double what I paid in gas fees + whatever ILV appreciates to. That's a risk I'm taking.

[cunning perch]

No. you lock for a year it will be counted as double

[craggy field]

think of it this way as long as the gas fees aren't like 400$ it could be good. Quite a lot of us think that you get about 30$ per month from revdis after the game is out for 1+ months. So if you stake it for a year, and the game succeeds, it could be worth it! 30$ per month for 8 months makes for 240$ returns per token!

[thin ruin]

cool you guys awesome thanks guys

is the APY fixed or it can change in the middle of staking

[cunning perch]

Def keeps changing (mostly drop) as ppl join/exit and rewards distribution drops 3% every 2 weeks

[ripe orbit]

is there a channel for lands??? Im planning to buy directly sILV

[thin ruin]

I mean if I stake rn and claim in ILV is the reward in 12 months would be less than 44% ?

[craggy field]

the APY can change so you might not get that 44%. Last month we had 60-70% APY on the ILV pool. If the game is great though, Revdis will kinda take over after the yield farming is over 🙂 so nothing to worry about!

[cunning perch]

#🎮〕illuvium-zero make sure you read and know this too #🥩〕staking message

[thin ruin]

If I stake rn lets make it simple
if I stake $1000 with 44% APY,
it should generate $440 which is around 0.35 in ILV right ?
when I claim 12 months from now will I still get 0.35 ILV ?

if in 12 months from now the APY becomes 5% lets say

[marble mountain]

Hello I have a question about calculating APY, I believe I am doing something wrong. Currently, I believe we are getting somewhere around 0.00180 ILV per ILV we stake. Lets say that is correct. So that is an 0.18% return a day. The formula for APY is (1 + return/periods)^periods - 1 . Doing the math (1 + 0.18/365)^365 -1 = 0.197. So about 19 percent. But all APY I see here are around 40/60 and even more. What am I missing?

[cunning perch]

nope. APY will drop and rewards will drop too. So nothing is fixed

[thin ruin]

So in my opinion its better if I claim in sILV right away that generates 44% with current APY right ?

[cunning perch]

you could. if you have a plan when/where to use it

[thin ruin]

aight” THANKSS AGAIN DUDE

[cunning perch]

not for a week now. Maybe next week?!!

emm.....No not low. I'd seen 100 last week too.

[marble mountain]

But then I can see a problem with my math by just realizing that 0.00180 ILV a day equals to 0.657 ILVs a year. Which would be a 65% rate

[atomic lagoon]

If i am not wrong, you will get around 0.10 - 0.12 ilv per month + revenue distribution.

[floral widget]

You will also pay that amount of gas staking and claiming 🙂 unless you stake and pray for eth2.0 haha

You don't get compound if you don't claim

[thin ruin]

@cunning perch are you there sir ?

[cunning perch]

I wasn't but now I am 🙂

[lilac agate]

Can you please flag my comment in the "feedback" channel to the ILV devs...

[cunning perch]

Don't worry they always read all channels and respond if one is required

[lilac agate]

Ok cool, thanks

[ripe orbit]

at the end decided to buy 5 ilv and stake it

[cunning perch]

https://tenor.com/view/clapping-applause-well-done-good-gif-12529938

[marble mountain]

Could anyone help ? 😄

[elfin goblet]

Could you elaborate?

[marble mountain]

The rewards you get by staking ILV need to be claimed. Each time you claim them you pay the gas fee. But until you do not claim them, they wont be added to your ilv account

No, when you claim them you vest them, restaking them for 12 months automatically.

[thin ruin]

sorry nvm I think I will learn some more info before staking heeh

[floral widget]

Without claiming it won't be vested, no vest no compounding

[boreal cape]

Here’s for your reference. S = stake. C = claimed reward.

Each time you claim and/or stake, You’ll gonna have another “box” in your vesting tab.

And you’re claimed reward (ILV) will start compounding.

[split geode]

Hey men, Happy with my ILV balance now im going to do some slv so it can slaughter the staking pool. is there any good videos explaining how to do this?

[eager lynx]

Guys, will RevDis go to "ILV balance" or it will be auto-staked for 12 month as well?

[atomic glade]

Will we be able to use the sILV when game is live?

[eager lynx]

you can use sILV as in-game currency

[atomic glade]

Yea that was clear. But will it be available right as game goes live or does that happen only when locking period ends?

[chrome turret]

Is this a good time to still be staking?

[bitter delta]

How much reward for 1 or 2 ilv ?

[cyan rampart]

sILV is available already. You can claim sILV as a staking reward.

[cyan rampart]

Gas-wise, not particularly. Investment-wise, yes.

[cyan rampart]

There are calculators pinned in this channel to help you figure out your potential staking rewards.

[chrome turret]

@cyan rampart what ideal gas range?

[weak hearth]

Personally I think if you have more than 1.2k in balance it's worth the investment

[cyan rampart]

It's been really high for the last week or so. I really try to get my txns through at 50 or less, personally. but I can afford to be patient. I'd shoot for less than 80-90 if you're in a hurry.

[median canyon]

I accept only 20 or less. I’ve been waiting a while, lol.

[cyan rampart]

https://tenor.com/view/wait-waiting-bored-gif-10918805

[chrome turret]

Okay thanks!

[weak hearth]

What day is best for gas fees

[midnight steeple]

https://ethereumprice.org/gas/

[cyan rampart]

Sunday nights seem to be good. That's not a guarantee, but generally people avoid doing NFT minting etc. on Sunday nights for whatever reasons.

[midnight steeple]

depends what coutry you are in sunday night might be your monday morning....

[cyan rampart]

In a loosely defined 24 hour window surrounding what I consider to be Sunday nights ** gas seems to be cheaper.

[marble mountain]

Could anyone help? 😄 ill keep asking xd

[cyan rampart]

How long are you staked for?

[marble mountain]

Lets say I maxed out my token weight, so the max amount, a year. I am just calculating hypotheticals for now

[quaint merlin]

Is it worth staking I only got $100 in Illuvium

[cyan rampart]

With $100 of ILV, almost definitely not at current gas prices. You'll spend more than your investment staking.

[quaint merlin]

Oh ok I’m not sure how staking works

[lean nest]

Is there an interval for how often you get revdis when staking? Or is it just all depending on how much you’ve been staking?

[cyan rampart]

The APY varies based on lock period. I'm not exactly sure what or why you're trying to calculate.

The APY shown on the website is the APY you'll recieve when you stake. IF you want more in-depth estimations, there are calculators for that kind of thing in the pinned messages.

[cyan rampart]

The easy way to think of it is like an interest rate. You stake your tokens, and you get a return for staking them. If you lock them, they are unavailable to you until the lock period ends.

[marble mountain]

Well I am trying to figure how the website APY is calculated, as I am trying to re-run the math myself

[quaint merlin]

How does gas work with staking ?

[cyan rampart]

Staking does require doing a transaction on the ETH network, which costs gas.

[quaint merlin]

Damn ok gas be so high atm, probably not a good time to buy more Illuvium is it ?

ETH looking so good atm

[cyan rampart]

It varies by pool, but the basic idea is that there's some number of tokens to be distributed to each staking pool, you take those tokens and distribute them across staked tokens (respecting weight within each pool), extrapolate over a year, and that's your APY.

[cyan rampart]

Probably not a great time to buy ILV on the ETH network. It's a great time to buy on a CEX though.

[quaint merlin]

I might get some sleep good thing we early to Illuvium I’m glad I’m early cause I was disappointed being late to zedrun

[marble mountain]

Okay so when they refer to APY they just mean the number of tokens you reciveve *times you recieve them? Traditional APY is a bit more complex than that

[quaint merlin]

I mean just on my exchange I use Coinspot it’s up like 20%

[proud jungle]

Hi I was wondering why for staking ILV you need to pay gas fees, I thought that's the good thing about Immutable X that it doesn't charge gas fees??

[cyan rampart]

Well it's calculated based on the current price of ILV. The APY shown is how much of your investment in dollars you'll recieve in ILV over a year. Note that the APY drops over time, and with additional investment in the pool.

[cyan rampart]

Staking is still on the ETH network, and likely will be for quite a while into the future. The game itself will be played on IMX.

[proud jungle]

I see ... thanks for clarifying!

[solid chasm]

Hi there, can you somehow stake ILV from a hardware wallet or only metamask?

[rich swan]

I am trying to stake more ILV but it’s making me claim my small amount of ILV I have gained since my last stake. That’s too much in Gas to claim $5

[potent flare]

yep, that is a problem we deal with

[rich swan]

Not a good problem as it’s keeping me and probably MANY more people from staking again

[marble mountain]

Ah so that is why the current APY is so high, because it calculates capital gains? fair enough

[potent flare]

i cant claim my rewards for a month already as well

[cyan rampart]

Specifically, it's calculated in terms of the value of your investment (true for both pools).

[rich swan]

That’s NOT good at all. Why?

[cyan rampart]

And the yield you're collecting is in ILV, so when ILV is high, the APY goes up.

[marble mountain]

OKay, I was looking at it as purely crypto APY. Which did not make sense to have triple or double percentage figures

[potent flare]

thats an eth problem, idk why 😄 because people use it i guess

[cyan rampart]

For the ILV Core Pool, it's numerically the same. For the SLP pool, your rewards are in ILV, while your stake is in 50/50 ETH/ILV.

Like, a 44% APY on 5 tokens is the same as a 44% APY on $6k of investment, if that makes sense.

[final fulcrum]

good

[cyan rampart]

Staking v2 will hopefully solve some of these issues. There's a message pinned in this channel with the original proposal, which is currently being revised.

But yes, you do currently need to claim rewards to add another stake, and when gas is high, that can cost a LOT.

[lean nest]

Is there any date when staking V2 will come?