🥩〕staking

[manic spindle]

No approved proposal yet = no date yet either 🙂

[tacit nacelle]

Is there any plans to move away from th ETH network to get rid of these outrageous gas feed. I think the fees will stop a lot of people from staking.

[brisk surge]

Really? I didn’t have that problem. When I staked my last two buys, my pending rewards automatically got locked. I wasn’t prompted to claim my pending rewards

[rich seal]

hi, one question please. When I will get 1 ILV reward, can i claim it and reinvest it with ETH into a SLP token and add it into the LP ? thank you for answer and have a nice day

[brisk surge]

what’s the benefit of claiming pending rewards? I assume they compound automatically as long as you’re staked in the pool?

[cyan rampart]

Pending rewards do not compound. Once you've claimed them as ILV, they start generating their own rewards.

[brisk surge]

Interesting! never knew that. Thank you

[cyan rampart]

NP! This also makes sense if you consider that you can claim rewards as either sILV (no compounding) or ILV.

[brisk surge]

True!

[wheat grotto]

If I’m theory the token hit a phenomenal number, for my second year of staking which would be more beneficial ILV Pool or the SLP? ETH might pump with in game purchases from ILV you think?

[ashen perch]

Omg, lost over $100 in gas fees again trying to withdraw rewards again. Does in not work on mobile app?

[trail ember]

Gas fees are out of control - been wanting to stake some ILV for a week now

[tacit nacelle]

Am I correct that 100% of the gaming profits go back in to staking pool. Does that mean the rewards will be higher?

[sacred cosmos]

If your bag is big enough take the gas hit. The amount of ilv you're missing out in a week might be more than enough to cover it

[manic spindle]

100% of all revenue this DAO makes is redistributed to stakeholders (incl. the DAO Treasury) yes 🙂

[tacit nacelle]

Where is the company based?

[atomic glade]

Sorry I still did not fully get my answer, could someone elaborate please. - If I cash out sILV on Feb, will I be able to buy something on the marketplace, for example an Illuvial for my team comp?

Or sILV can only be spent on travelling costs?

[manic spindle]

!silv No, because you cannot use sILV on the IlluviDEX. Only ETH can be used to purchase things from others but you can spend it on fees like travelling, shard curing etc, yes 🙂

[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.

[atomic glade]

Thank you. Also I heard someone mention that sILV will be used to purchase land, true or false?

[wheat grotto]

True my friend

[manic spindle]

True as approved by the council in IIP-10: https://gov.illuvium.io/#/proposal/QmNab3vqQX3q2yTNSo1rwK5PzPgE8QxRnEA13jKz8gWQu9

[rigid lantern]

Is it worth to stake 2ILV?

[spiral flame]

https://tenor.com/view/dude-of-course-dwayne-johnson-seven-bucks-the-rock-definitely-gif-20129872

[atomic glade]

If something is worth depends on what you value worth. I have 2 ILV staked in 3 months I have 0.15 ILV worth approx 180 atm.

[rigid lantern]

Ok thanks for this information. But I think the gas fees are not worth it for me

[atomic glade]

yea 3 months ago it wasn't that wild 😄

[hidden solar]

There are too few rewards for staking. It's good to see the coin price go up, but...

[noble shard]

Any way to reduce the gas to stake?

[next ruin]

No tricks other than waiting for a moment when the network is less congested. Hasn't happened much recently.

[cunning perch]

Nope. The only way gas can be reduced is if ETH fixes the scalability issue. Gas issue will not be permanent. It'll be fixed eventually. For now please time your stakes/claims based on the absolute low gas. Might take a while, but it's still possible

[trail ember]

Best time I find for the lowest gas fees are around 1am-4am est....but not the last couple days...been crazy high

[last acorn]

I heard that we can trade sILV, is that true? and where is it?

[next ruin]

There is an unofficial pool on Uniswap. You have to search the token contract - pinned in #💰〕token

[last acorn]

thank you.

[slate scroll]

Can someone explain me why ilv market cap is showing only 755mil when we have more than 1b now only in single ilv pool, locked tokens are not included?

[cunning perch]

That $755m is only tokes in circulations. On the website anything form claimed rewards, and flash pool tokens count as well, as the are getting RevDis too. But not outside the website. They have not been added to the circulation.

[trail swift]

Okey I am here and MY quesTION IS IF I have 1 token ILV what should I do with it ? best advice

where and how to stake with max profit

[gentle axle]

Thanks Arash. There are plenty of Layer 2 implementations that are reducing the fees dramatically - will there be any way to use some L2 to transac ILV/stake etc.. eventually or do you not see that happening?

[cunning perch]

Yes. We'll be eventyually moving to IMX

[woven ibex]

Illuvium uses Immutable X as a layer 2 solution. This means that you won’t be charged network gas fees within Illuvium and instead only need to transfer funds between the Ethereum Mainnet and Immutable X. This keeps the player's cost of doing business low, maximizing potential gain. For more information about Immutable X check out https://www.immutable.com/

[cunning perch]

Not for staking though. It's for the games

[cunning perch]

!read this and I promise it's the best advice anyone can give you.

[woven ibex]

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

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

[gentle axle]

That's interesting, thanks!

[slate scroll]

Probably single ilv pool gas would kill you right now if you go for ilv/eth pool

[trail swift]

ilv eth pool is risky its liquidity pool

[next ruin]

Huge APY though. Make back your initial investment in a couple months if you lock.

[slate scroll]

But apy is way higher and ilv is usually doing slightly better than eth so it's probably better option if you are adding bigger amount

Impermanent lose is not a big deal when you are making 400% :)

[agile fiber]

Can confirm. I've made 1.5 times my initial investment in about 38 days since I first staked in SLP pool.

[patent drift]

ILV market cap are about 755m but total staked are 1.5b that bigger than current market cap due to locked ILV from dev side are staking right? how do I know staked ILV from curculating supply?

[elder dawn]

Yield farming rewards claimed as ILV are staked, so there has been an additional ~600k ILV staked that aren't circulating, as they are locked for a year. Here's my dashboard tracking claims and staking.
Staked totals and amount of circulating staked are at the top of the dashboard https://docs.google.com/spreadsheets/d/1Pm6b54YRTjdv6cDmWwudyejk2aA8XSEB5CgzKWe1N20/edit?usp=sharing

[patent drift]

thnks bro

[stoic ridge]

thats a great chart

[high adder]

I have 0.13 ILV in my staking rewards to claim, but the gas fee will be almost the same as the reward, does it still make sense to claim it or should I wait more until the amount of ILV is bigger?

[elder dawn]

i would absolutely wait. Those rewards aren't going away. NFA.

[trail sail]

Yeah gonna have to do math on this. Thinking about 4k ish so SLP probably still worth with apy

[boreal cape]

You definitely have to wait IMO.

[languid jungle]

I bought ILV on crypto.com and want to stake, do I move it to metamask to stake my tokens or do I have to move it to a different wallet?

[ember ginkgo]

Metamask

[earnest shell]

theres a guy posted here today he owns at least 3k ILV XD that fella would probably crash the market wouldnt he? if he decide to sell in 1 year all together

[clear cape]

Not really, might cause a small dip if it’s 3k sold

[earnest shell]

it was 3k only in his rewards. got only imagine how much staked XD

[clear cape]

Yep some people are filthy rich in ILV haha

[steady trellis]

Selling pressure next year is a good thing for every staker @earnest shell that just mean lower price while revdis is active

[grizzled kindle]

How will revdis work do you have to keep staking to get it or just used to stake to get it

[next ruin]

Revenue is distributed among all currently staked tokens.

[grizzled kindle]

Alright so for me to keep getting it I need to continue to stake

[next ruin]

Correct. If you've locked and your lock expires, you don't have to re-stake though. You will continue being eligible at your given token weight until you withdraw.

[grizzled kindle]

Alrighty thanks very much for the explanation

[slate scroll]

If he has that much he is probably smart enough not to sell everything at once if we don't have enough liquidity :)

[slate scroll]

4k is enough to enter ilv/eth just wait for gas to be at least around 70

[hushed valley]

Will there still be a use-case for SLP even after the end of the distribution in 2024? If so, will SLP continue to get rewards (and in what way)?

Edit: In reference to staking it 🙂

[slate scroll]

I still remember my first deposit in single ilv pool it was 8 after a month when I properly aped gas was around 30 and I was like this is insane now I'm praying to see 50 gas 😂

[trail sail]

Yeah was just reminiscing on being pissed when gas was $5

[slate scroll]

Its insane to have this many transactions for weeks at this gas

[next ruin]

It will still be eligible for RevDis if staked and still accruing standard LP fees. But it will be much less lucrative, certainly. Unclear whether the liquidity pool itself will be necessary past that point (what with ILV being listed on most, if not all, major CEX's). If there is need of incentivizing SLP participation in the future a proposal could be made.

[earnest shell]

good luck waiting for gas. I have been waiting for 1 week XD doesnt go lower than 100

[grizzled kindle]

Is there the graph which shows you your profits and stuff is so does anyone have a link

[hushed valley]

Thanks for the info. I think there will be a mass liquidation of the SLP then around 2024 and a huge conversion of eth-->ILV at that time too.

[slate scroll]

Last time when I claimed I paid 140$ when gas was 70 I can imagine suffering for someone who is waiting to claim some smaller amount

[slate scroll]

Yeah once when we are at every big exchange we can operate comfortably without ilv/eth pool

[next ruin]

As YF reduces over time, you'll probably be seeing a gradual migration out prior to then anyway. Particularly if RevDis is outpacing YF by then. Folks in it for the RevDis would want to liquidate their SLP to go full ILV to get RevDis on the full investment, rather than half.

[hushed valley]

Hmmmm I think I need to make a calculator that shows when RevDis starts outperforming YF so I know when I should make that swap myself....gooooooood point my dude

[next ruin]

https://tenor.com/view/feel-me-think-about-it-meme-gif-7715402

[languid jungle]

So I'm trying to understand the core staking pools, with such a lower APY, for what reasons would anyone choose the ILV pool over the SUSHI LP pool?

[surreal mesa]

Will I lose my staking weight if I withdraw a small percentage of it after it unlocks?

[next ruin]

If you are under a few thousand $ total investment the gas to add liquidity and stake will eat up much more of your investment. You also don't have to worry about impermanent loss in the ILV only pool.

[cunning perch]

Whatever you withdraw will lose its weight. you will have to relock/restake to get the weight back

[languid jungle]

thanks for the insight!

[surreal mesa]

So if I withdraw 10% of it, only the 10% I withdraw loses its weight, but the remaining 90% in the weighted position retains it correct?

[cunning perch]

for now as all batches are separate and get unlock one at a time, unless you migrate to V2, you should be able to withdraw any unlocked batch separately. So the withdrawn ones will lose their weight. Now if migrated to V2 and they were unlocked, since they are gonna be added together and you can withdraw all in one TX, they will lose their weight altogether. The idea to choose a fixed segment when withdrawing has been brought up (I think I was the one who asked it) and it may/may not be implemented later cuz it will for sure complicate things further.

[surreal mesa]

Got it thanks

[placid sky]

Hey Guys let's say you have 1 SLP in the Staking pool, how do I know how much ILV, ETH I have in there?

[next ruin]

Using an app like zapper.fi is the simplest way. Alternatively, you can look up the current price of the SLP token and do the math yourself.

[placid sky]

If 1 SLP is 5k then we have 2.5k ETH and 2.5k ILV then? Is it 50/50?

[next ruin]

Yep, always 50/50. Part of the function of the LP is to always be in balance.

[low fern]

people are saying that SLP is more risky than ILV staking, what is more risky about liquidity pools exactly?

[next ruin]

Inherently, pools like this bear extra risk due to relying on smart contracts and there is always hacking potential and the like. Additionally, there is the risk of Impermanent Loss, which happens when the tokens move different amounts and you lose out compared to just holding the tokens due to them needing to stay in balance as part of the pool. Recommended read: https://academy.binance.com/en/articles/impermanent-loss-explained

[low fern]

in order to stake in the liquidity pool do you need to have both ETH and ILV or just ILV?

[warped lava]

Both

[tepid portal]

Wen staking v2

[next ruin]

Equal value of each. (With extra Eth for gas, of course)

[low fern]

man i'm gonna need to get more ETH if i wanna do that

[silent cedar]

50/50 ILV/ETH by value

[delicate plaza]

Just waiting patently for GAS to go down

[past falcon]

No, this is definitively not so. 2.5 ETH alone is more than 5k. Make the math.

This is the actual distribution 🙂

[next ruin]

He's talking $ value.

[past falcon]

Oh, I see... 😄

[low fern]

the ETH and ILV you use will need to be of equal value in USD

[delicate plaza]

Is there any rough idea on when staking switches to v2?

Is the APY listed for each pool based on locking the stake for 1 year? If we are doing flexible do we half that APY?

[next ruin]

No recent update on V2, the proposal is still being revised. You are correct on the APY - the site lists full lock, flex is half.

[delicate plaza]

Thanks - If I lock my stake for say 2 months - what happens at the end of the 2months? Does it switch to flexible automatically , does it sit there not getting APY until I withdraw it with GAS?

(SLP pool btw)

[cunning perch]

When it gets unlocked, it will stay there with the same weight generating YF rewards. UNTIL V2 is out. Then you might need to migrate to V2 or withdraw as V1 will not give you anymore YF rewards. Be advised Migration or withdrawal cost gas (pool doesn't matter. Either undergo the same process)

[delicate plaza]

Thanks for the reply - Ok that's great. Just to clarify - If I do a 10week locked stake it says 1.19 weighting. After the 10 weeks I have the option to withdraw the stake but if I don't it will continue to have the 1.19 weighting?

[cunning perch]

Yes, unless V2 is implemented (pretty much likely). I explained the rest in my previous PM 🙂

[delicate plaza]

So everyone is going get hit with a new round of gas fees to unstake and stake when we switch to V2?

Also do you get ILV or SPL tokens for YF rewards in the SPL pool?

[wheat kestrel]

Are they really going to force migration to V2? I would think they have to support V1 in perpetuity. People made staking and claiming decisions with assumptions they could vest on V1. To make people migrate to V2 would screw a ton of people. To be clear, I understand not allowing additional deposits to V1 once V2 is out but what you describe sounds much more disruptive.

[next ruin]

All pools reward in your choice of ILV or sILV.

[pale shore]

hi guys any chance i can chat with a admin person about my staking? Pedro was the name i was given but need help with a compromised wallet

[agile fiber]

Google Zapper DeFi

[agile fiber]

Google Zapper DeFi and connect your wallet, it will show you the breakdown there. @cyan rampart Can we pin the link to Zapper? I have answered this for someone a dozen times or more. "how much ETH/ILV do I have staked in SLP pool."

[hoary sorrel]

When would you consider claiming rewards worth it? Considering Gas fee is 3-400.

[brisk surge]

I claim every month on Saturday or Sunday when gas is below 55

[scenic shore]

Is there a faq / site regarding staking? Under rewards it says I can claim 5 ILV. So I claimed it, but only 0.136 ILV shows up under vesting. What am I missing?

[agile fiber]

Yes in the pins. Are you staked in the SLP pool?

[scenic shore]

yep

[next ruin]

Have you claimed rewards prior to this / did you have an ILV only balance? If so, you'll have two claims - first from the ILV pool and then from SLP.

[agile fiber]

Yeah, so that 0.136 ILV is most likely your interest from your ILV pool. The other 4.86 ILV is the interest from your SLP pool.

When you claim from SLP pool, it auto claims from ILV pool, too,

[cyan rampart]

Zapper can be used to track your SLP stake ETH to ILV ratio. https://zapper.fi/

[agile fiber]

Yes, sir. Either create a '!' command for it or just pin the link please. It is a very useful tool for tracking your wallet profits and staking amounts.

[delicate plaza]

GWEI at 298. somebody hold me

[agile fiber]

https://tenor.com/view/will-smith-so-excited-faint-dramatic-gif-14057411

[glad oyster]

Are you guys mostly staking in slp pool or normal.. I kinda messed up that i didnt buy at least 2 more ilv to make a SLP token
Now i just have 1 ilv in the normal pool

[rich seal]

hi, one question please. When I will get 1 ILV reward, can i claim it and reinvest it with ETH into a SLP token and add it into the LP ? thank you for answer and have a nice day

[elder dawn]

No, you can either claim as ILV and it is locked for 12 months while it vests, or you receive sILV and get the token immediately.

[cyan rampart]

Creating ! commands is well above my powers here, but it's pinned for future reference.

[past palm]

Whats a good claiming strategy when staking in the Sushi pool

[gleaming brook]

anyone trying to claim rewards with such high gas? How much are you paying?

[eager pine]

What’s everyone’s ilv dca strategy? How much do you save up before staking?

[umbral crane]

Guys i have a question how does APY go up when the price is going up. Shudnt it go down if more people coming in

[teal bridge]

Does anyone have a chart with historical APY on the ILV staking? I want to see how long it has sustained this 44%

[jaunty mason]

How much needs to be staked in order to receive revdis and does duration matter?

[delicate plaza]

any ILV staked gets rev dis - no matter the amount I believe. Duration of lock does not matter either just as long as its staked

I want to stake but the gas is going to cost 750usd. What the hell haha

[full sedge]

I havent claimed my rewards for 3 weeks because gas is too high

[lean nest]

I’ve seen a chart. Might be in pinned messages or in Vetemors YouTube video about staking

[delicate plaza]

When staking do you have to do the priority GWEI for ETH? Can you use the cheaper Slow?

[full sedge]

#💰〕token message

[weary radish]

can someone show me how I can get into staking?

[next ruin]

Check the pins in this channel for articles, video tutorials, and other useful resources.

[weary radish]

ty

[acoustic lagoon]

Need to claim ILV how much is gas working out as?

[weary radish]

thats what its showing me on metamask

ridiculous

[delicate plaza]

Are these likely to drop? Why in the world are they so high the last few days

[hearty fern]

hi guys, I'm in the sushi LP, Weight is showing at 78.43%? Is there a particular reason for that? I was under the impression weight is 1 and goes up when LP tokens are locked.

[next ruin]

That is indicating what percent of the total reward distributions are going to the SushiLP stakers. That's pool weight - you have correctly understood token weight.

[hearty fern]

Got it. Thank you!

[dusk ether]

Hey all!
Could someone explain what type of transfer staking is? Looking at the gas prices and 170 gwei should be like $17, but I'm being charged something like $250?

[elder dawn]

its a smart contract interaction. vetemor has a calculator to estimate the fees involved here. $250 is about right for current gwei. crazy high ETH fees lately https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit#gid=0

[brisk surge]

is there an ETA on when v2 would be implemented if it goes through?

[loud ingot]

So I’m close to staking. I need to buy illuvium, then get SLP but the gas fees are like 175

Is that normal? I’d have to pay 175 twice correct? Maybe three times when I actually stake??

[loud ingot]

Anyone stake on celo network?

http://rollcollablandaxies.com/ was provided this link to get started. Just wanted to do my due diligence before taking the plunge

[idle rivet]

Hello everyone, about staking, and gas fees... Does the gwei follow ETH or ILV pumps? I mean, if the ETH costs more, the gas will cost more (in USD) AND ALSO IN GWEI? How does it works? HELPPPLZZ KKKKK

[vital depot]

When is V2 out? Any eta?

[next ruin]

As the traffic gets worse, the trip takes longer and you need more gas to be sure you make it. At the same time, everyone is stocking up on gas and it is getting more expensive. You need more, more expensive gas these days.

[idle rivet]

So the gas variates only with the transactions traffic?

[next ruin]

Two main things: 1) How congested is the Eth network? 2) How complex is your transaction? ILV token price has no influence whatsoever.

[idle rivet]

But the ETH price does, right?

[next ruin]

Yeah, as ETH goes up so does the $ value of gas proportionally. Gas is calculated in ETH units, not $.

[idle rivet]

Thank you very much, sir

[delicate plaza]

Can you stake and everything through Metamask mobile? Or does it have to be the browser extension?

[carmine drum]

Gas fee is usually low on weekend, you can catch 40-60ish gwei there.

[autumn cloak]

Ha. That’s funny

[carmine drum]

We dont know this, you must stake on the illuvium website, any other site would result in scam.
And pls dont dm me.

[loud ingot]

Thank you, and did not know I couldn’t dm. Won’t happen again

[delicate plaza]

Hey Tin - any help on the question above? Can we use Metamask wallet on mobile to stake or only the web version? I've never used MM but feel paranoid on a hack, doesn't seem very secure having everything store on the browser

[clever swan]

One of my slp stake that is locked for 3 months is unlocking in a few days. Does anyone know what the process is to restake it? Do I need to unstake the slp tokens and then restake it? How many different gas fees will this involve?

[carmine drum]

It’s because we got hundred of scam dm per day, most would lead to block, pls dont feel offensive @loud ingot

[carmine drum]

Yes, you can.

[loud ingot]

No problem, I can understand how you guys can be bombarded. There were two individuals that sent me that site and it looked suspicious. I’m new to this, so needed a reliable source to confirm my thoughts

[next ruin]

If you are happy with your token weight, you can leave it and retain the existing weight. If you want to lock in for longer, I pretty certain you will have to withdraw and restake. This would be a claim of pending rewards (SLP and ILV pools), withdawal, re-stake (possibly having to claim ILV pool pending rewards AGAIN). So... possibly 5 gas fees?

[carmine drum]

It’s definitely scam, pls report them in the #🚨❗〕report-scammers

[next ruin]

https://tenor.com/view/pain-painful-rip-gif-19017159

[coral pike]

@carmine drum will staking and claiming rewards still cost gas when fully on IMX?

[clever swan]

when I claim rewards do I have to immediately withdrawal? Because wouldn't there be some reward accruing right after I claim them.

[next ruin]

I would not claim separately, it should force a claim when you withdraw I think.

[clever swan]

Or should I just let it sit there at that weight and stake v2 will offer better options?

[clever swan]

Ah I see.

[next ruin]

Unless gas gets really low again, I'd advise letting it sit until we can do these things more efficiently in V2. But obviously up to you.

[clever swan]

I would like to go this route but my only concern is that I lose the 1 year stake at 2x and need to do it at 2 years unless they grandfather in the people who are already staking. Do you know if there has been any clarity on this? and thanks for the info.

[next ruin]

Latest discussion sounded like the whole 2 year lock to get 2x weight aspect was going to be dropped in the revised V2 proposal. People were pretty firmly against it.

[clever swan]

Cool. I think 2 years is a huge commitment and will deter people from investing more. I hope they explain things to us older investors so we can make a better informed decision.

[next ruin]

#809220563397902346 message Just to cite my source. 😉

[clever swan]

Great! Thanks!

[dusk ether]

Thanks for the link!

[pale trellis]

Gas is through the roof

[lean shore]

Guys there is something I do not understand, I stakked ILV and also SUSHI LP but I don't get why they ask me to Claim ILV or sILV and do not know what to do ... Also, Is it beter to Leave it or Claim it ? Thanks for your help guys 😉

[pale trellis]

Your claimed ILV is earning ILV

[coral pike]

Claiming right now would be very expensive with the gas this high but with sushi LP always click the claim silv button at leas that is what I have been told.

[delicate plaza]

any reason why sushi swap shows gas at 180 while everywhere else is way lower?

[lean shore]

Yes but I don't get it, If I claim sILV on the Sushi LP line that would collect 1.33 sILV instead of 1.33 ILV ?

[unreal urchin]

Yes. You choose to claim ILV or sILV

[clever swan]

I stopped claiming weeks ago because of gas and don't even check the fees anymore fml

[coral pike]

Can I claim just my SLP rewards? Do I have to claim my ILV pool rewards? OR Why did I get two transactions when I claimed?

This is one of the more confusing things and a mistake that I’ve seen a number of people make. First, you will almost always have more rewards in your SLP than the ILV pool. ONLY EVERY CLICK CLAIM ON THE SLP! By claiming from the SLP, you will automatically claim your available ILV pool rewards. It will be two transactions, and you must approve both in your wallet, or you won’t actually claim your rewards. Even if you have a super small reward amount in your ILV pool, you will claim them. There is no way to avoid this. Please make sure you approve both transactions to avoid wasting gas. Always make sure claiming makes sense, and the value of your interest earned from compounding will exceed your gas fees.

[clever swan]

just claim slp and it will auto claim ilv afterwards. Do not claim ilv first or you will end up doing 3 claims.

[coral pike]

that is just copy paste more info here https://www.publish0x.com/ilvfi/the-ultimate-faq-illuvium-slp-liquidity-pool-staking-xrnxvzo

[clever swan]

@coral pike I just realized you were answering the question. haha my bad!

[coral pike]

that was just a copy paste response not an actual questions LOL but thanks

[finite mortar]

anyone having trouble staking in the core ILV pool through metamask?

[wraith charm]

Fix the dam ILV staking issues with claiming both single ilv and LP ilv at same time guys; we were told this would be addressed end of October; when’s the update coming?

Gas is to dam expensive for something so easy to fix

[pliant whale]

Is it an easy fix though?? But good question, when Staking V2? This maybe drawn out as many people wanting their short-term stakes to continue as same "weight" or higher in V2... Also priorities...

[cinder acorn]

small question
ilv = 1000 and silv =500 for simplicity
lets say i have 1 ilv has reward from staking
and i would like to claim it in silv
would I get 2 silv because of the current price?

[pliant whale]

No, because ILV = sILV, and your earnings to claim are calculated based on this. But on the open/black market sILV is "currently" 1/2 the price...

[cinder acorn]

ilv != silv did you look at the price on the market?
srry i only read first part

[next ruin]

In the Illuvium ecosystem ILV = sILV

[cinder acorn]

would not i just be able to buy of the black market and bring it to the ecosystem?

[next ruin]

Doesn't matter how or where or for how much you acquired the sILV token. When you spend it in the Illuvium ecosystem it will be recognized at the ILV token price at that time.

[cinder acorn]

@next ruin @pliant whale
ty

[eager fractal]

Yo guys, been away a bit, any news of timeline on staking v2 coming live?

[next ruin]

The revised proposal has not been presented for council approval yet, so no timeline atm

[eager fractal]

Awesome thanks mate

[delicate plaza]

Can we deposit ETH to metamask via any other network other than ERC20?

[vast jewel]

If we leave our tokens in the staking pool after the unlock, does it keep or lose its weighting?

[delicate plaza]

keeps its weighting

I'm not sure which gas tracker to go off - the discord one says something different from ETH scanner which is different to what sushi swap displays. Which one should i go off to know a good time to stake for SLP

[wheat cradle]

could someone point me in the right direction to unstake my LINK from the flash pool?

[next ruin]

Staked SLP is RevDis eligible, but only on the ILV portion.

[next ruin]

Check your "Vesting" tab.

[wheat cradle]

derp cheers

[coral pike]

this takes the an average of multiple gas sites https://ethgas.watch/ you can also track the gas price for an entier week

[lean shore]

Thanks a lot this was so helpfull

[shrewd magnet]

!contract

[woven ibex]

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

[lean shore]

I still don't really get the claim thing

[potent sable]

Hey guys the weight percentage. What exactly does this mean. The average weight of stakes? Or something else?

[next ruin]

That is the percentage of all staking rewards being distributed to the ILV pool. SLP pool gets about 80%.

[potent sable]

Oooooh I see. But these numbers don't relate to revdis at all no?? But doesn't your weight in any given pool get affected by revdis

[gloomy gazelle]

ILV pool gets about 20%

[next ruin]

The pool weight does not factor for RevDis. It splits into the pools by token count and then evaluates individual token weight.

[gloomy gazelle]

The weight of your stake from your lockup period does matter. But not the pool’s weight.

[potent sable]

Is there any location I can see the average weighting of the pool participants? Eg how many are using 2 weight etc

[gloomy gazelle]

https://dune.xyz/xastor/Illuvium-Dash this is a good tool

[next ruin]

I'm unclear if this factors the claimed ILV rewards? Feels like there should be much higher 12 month / 2x locks simply due to that.

[gloomy gazelle]

True. The rewards are not included.

[next ruin]

Yeah, I think for the next year the large majority of ILV only pool is going to have 2x weight due to that.

[elder dawn]

Both pools are right around an average weight of 1.63 last time I did the math. Generally it has trended up over time.

[next ruin]

Of course @elder dawn has done the math. 😉

[potent sable]

Also we will be getting revdis from land minigame too won't we. Forgot about that

[delicate plaza]

Thanks!

Is there any harm on putting in slower gwei values when do the whole SLP taking process? Or should you always be putting the fast number in?

[brisk surge]

We've reached a funny point in my life. I'm considering getting a job so I can pay the gas fees to claim my ILV in order to vest

Well, a second job

[granite halo]

Having this same issue. Got 5 ILV in rewards ready to claim but the gas just isn't going down, even on Sundays.

TFW you thought you would be compounding delicious rewards, but you expected gas to be in the 40s every Sunday:

[brisk surge]

How were we supposed to know. The eth update was supposed to make it better, lol

[agile fiber]

lol no worries, and thanks!

[dire pewter]

And here I am waiting for the gas fees to go down so I can stake my 0.338 ILV in the first place 🤣
Plus, the https://staking.illuvium.io/ site is down for me so no idea when I'll be able to do it!

[toxic spoke]

Hi, I staked slp for 6 months. I assumed I couldn't touch any of it for 6 months. but guys are talking about dripping their rewards back in if not for the gas. so if I have a couple ilv built up in rewards, I can pull it out and restake it? Even if I'm locked in for 6 months?

[gloomy gazelle]

!claim So when you claim your rewards as ILV you are really just vesting your rewards in the ILV only pool for 12 months.

[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.

[toxic spoke]

ah, so my principle is locked for 6 months. my rewards auto-lock for 12 when I decide to pull them out

[limber pike]

Why is the gas fees on etherscan ($14), when I approve the pool on Sushi ($35), and when I add liquidity ($150) so different?

[toxic spoke]

unless I pull them as game currency

[gloomy gazelle]

The site still looks good to me. Also you may want to consider just buying more ILV with the eth you’d spend on staking fees.

[gloomy gazelle]

Yes

[gloomy gazelle]

More complex transactions have a higher gas limit

!fees

[knotty river]

Fast: 125 Standard: 124 Slow: 123
Simple ETH TX: $11.84 (0.0026 Ξ)
Token Approval (ERC20): $29.15 (0.0064 Ξ)
Token Transfer (ERC20): $27.32 (0.006 Ξ)
Uniswap Trades: $68.31 - $113.85 (0.015 Ξ - 0.025 Ξ)

[toxic spoke]

THANKS! I was so confused with the 12 month thing cause I thought you had a choice as to how long etc etc etc.. now it makes perfect sense. THanks!

[limber pike]

Thanks. If I close sushiswap now to wait for lower fees, do I have to approve the pool again?

[gloomy gazelle]

If you already approved it then no.

[delicate plaza]

!fees

[knotty river]

Fast: 156 Standard: 141 Slow: 140
Simple ETH TX: $15.02 (0.0033 Ξ)
Token Approval (ERC20): $36.4 (0.008 Ξ)
Token Transfer (ERC20): $34.13 (0.0075 Ξ)
Uniswap Trades: $85.1 - $141.98 (0.0187 Ξ - 0.0312 Ξ)

[limber pike]

Thanks mate.

[royal flare]

What is the difference between the ILV and Sushi LP Staking Pools? Does ILV offer better rewards?

[gloomy gazelle]

SLP has higher apy.

!lp

[woven ibex]

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

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

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

[gloomy gazelle]

!staking

[woven ibex]

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

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

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

[royal flare]

Okay but all rewards will be the same? even air drops or early access to buying land or other NFTs if offered?

[next ruin]

None of those rewards are currently offered for any staking pool

[royal flare]

Yes, I understand, but I am trying to get an idea if one staking pool will have better rewards than the other or are they the same

[next ruin]

Only rewards difference is APY atm and there is no indication it will be different in the future

[gloomy gazelle]

The only difference will be the token distribution APY. Which is based on how much is in the pool and how many tokens are being distributed to that pool. About 4 tokens will distributed to SLP stakers for every 1 token distributed to ILV only stakers.

It’s all about how many tokens you get for staking rewards. (APY)

Here’s the APYs from yesterday.

[royal flare]

ok

[gloomy gazelle]

Significant difference. But there are also the additional gas fees for adding liquidity and for the complexity of the other transactions. Make sure you understand what IL is before adding liquidity

[silent apex]

Is there a way to stake for only two months and then pull out?

[sacred cosmos]

Yes you set the number of weeks

[silent apex]

I kinda wana stake. Im just so scared of the whales getting their stuff unlocked and flooding the market when I haven't seen a true game yet 😦

[gloomy gazelle]

You can stake completely flexible too. Pull whenever.

!staking watch the video

[woven ibex]

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

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

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

[sage sonnet]

Will vested ILV pool together in your wallet automatically?

[humble depot]

claiming hurts

[gloomy gazelle]

Not to your wallet. But in the staking pool. But contracted with your wallet. (Not sure that’s how you say it but basically this)

[sage sonnet]

Right meaning after I claim it vests for 365 days. On day 366 where is it?

[gloomy gazelle]

Still there.

You’ll need to do a new transaction to withdraw if you want it in wallet

[sage sonnet]

Damn

Thank you

[gloomy gazelle]

Actually that’s good. Because it still is earning rewards that way. No need to restake. It holds its previous weight too

[potent sable]

Wait so it keeps earning rewards even after 365

[gloomy gazelle]

Yeah

[silent apex]

until you take out?

[sage sonnet]

Interesting. I was experimenting with it so I have some very small balances vesting

[gloomy gazelle]

Yeah

[gloomy gazelle]

V2 staking will hopefully allow multiple withdrawals in one transaction

[sage sonnet]

So it will probably cost more to get my 0.01 ILV into a wallet

[silent apex]

If I already have ETH then the ETH/ILV pool is best?

[gloomy gazelle]

Seems likely. But that depends on your risk assessment

[silent apex]

Is there any roadmap for V2 staking?

[gloomy gazelle]

I think the original IIP was pinned in #809220563397902346 but the IIP is getting updated currently. So it’s not even officially been voted yet.

It’s not there. I’ll find it

Oh wait there it is.

https://cdn.discordapp.com/attachments/809220563397902346/887631374411001916/GOV-IIP-011IlluviumStakingv2-150921-0927.pdf

[silent apex]

Thank you! ❤️

[delicate plaza]

trying to stake with a mobile metamask wallet but there's no option on the illuvium staking website?

[delicate plaza]

Hey Tin - having trouble finding an option to use mobile metamask for staking?

[gloomy gazelle]

Are you using the in app browser from the metamask app?

[delicate plaza]

Ooo that will be it thanks!

[gloomy gazelle]

Mobile can be a bit tricky when staking in the SLP pool. Doesn’t always work right. But for single asset ILV only pool I think it’s fine.

[delicate plaza]

Bummer I'm trying to do the SLP pool

[trail sail]

Just confirming that you're eligible for land sale revdis on your ILV in the SLP pool?

[mint cave]

yes

[loud anchor]

If i stake on v1 i’ll get revdis ?

[proud moth]

you get revdis whatever v you stake on

[cunning perch]

Unless your tokens are unlocked and V2 is implemented. You will then be required to migrate to V2 if you want RevDis/YF rewards

[delicate plaza]

I keep trying to approve my ILV tokens for sushi on Metamask and nothing happens. Transaction fails and I lose 40cents.

[royal flare]

Why would it only allow me to stake the ILV pool and not the Sushi pool?

[cunning perch]

Approve ILV for Sushi....could you please elaborate what you mean? Are trying to add liquidity on Sushi? Or have SLP (Sushi Liquidity Pool token after having provided liquidity ) and trying to stake that in the SLP on ILV website?

[cunning perch]

Have you added ILV+ETH to Sushi, got the SLO token, approved it on ILV website?

[royal flare]

No, I was trying to add just ILV

[delicate plaza]

Hi Arash. I have eth and ILV in my wallet and haven't staked before. I am trying to turn my ETH/ILV into SLP tokens and stuck on the first step of that

[cunning perch]

!lp follow this 👇

[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]

Hmm. Did you follow all the steps above? 👆

[delicate plaza]

I'm on the sushi link thats In the middle of that. When I click approve ILV and confirm the estimated gas, nothing happens

So my attempt to approve the contract gets rejected

[cunning perch]

Try updating the browser, empty cache on both browser and MM, if you can set gas high (fast gas) and raise limit do it, if you are using a Cold Wallet make sure it is updated.

[delicate plaza]

So increase the gwei? That doubles the estimated cost to $80 USD for contract approval 😭

[cunning perch]

Gas is a bit high now. If you can, do it in the weekend maaaaaaybe you get a lower gas. SLP is an expensive tx

[delicate plaza]

Ok thanks will hold off

[lament gorge]

What should I do if I want to reinvest my steak reward with compound interest?

[potent flare]

just claim it as ILV

[soft terrace]

Hello, what staking pool is recommended for long term?

What are the (dis)advantages of ilv and ilv/eth?

[cunning perch]

I suggest reading the following docs

!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]

!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

[soft terrace]

Will do, thank you!

[knotty heron]

Stake it till you make it

[delicate plaza]

Man must have tried 20x and still just nothing happens on trying to approve the SushiSwap contract

Even with a crazy high qwei above current prices

[cunning perch]

did you do all the things I told you?

[delicate plaza]

Yea and still nothing. Hit approve and it just grey's out the button after and nothing happens

[cunning perch]

change the browser. maybe that will help

[delicate plaza]

How can I change that browser if I need to do it through Metamask browser to connect the wallet properly? On mobile

[cunning perch]

On PC use Chrome or FireFox

[delicate plaza]

Ok will that a crack 👍

[soft terrace]

Okay I understand the differences now but I can't do the math behind it. Let's say I want to stake 1000$ locked for a year and I expect ILV and ETH both to double in this timeframe. What pool would be better in this case?

[cunning perch]

ILV will for sure out-pace ETH due to its small MC. So the more ILV pumps the more you lose it to ETH. For that, you are getting more rewards to compensate the loss. Still, if both tank, you ppl will for sure buy your ILV and ETH cheaper. It's what you have to decide to do. There is no better/worse as ppl always have different plans and know what's best for them.

[vast kelp]

I definitely have the right token as I copied the address from coinmarket gap it’s the correct token

[agile matrix]

GM

[vast kelp]

So what do I do to stake now I’m confused

[brisk surge]

I confirm it is right tokens; so you are in https://staking.illuvium.io/ , you logged in with metamask right?

[vast kelp]

Yes

When I go to core pools and stake in Sushi LP it says balance 0

[brisk surge]

aaah ; There is 2 ways to stake : either ILV itself, or Sushi LP ; what is your aim?

[vast kelp]

SUSHI LP

[chrome slate]

Anyone knows if there's anything out there to help track the value of your staked tokens and rewards?

[brisk surge]

Ah then first, you need to stake your ILV in sushi ; let me find the guide for you

[vast kelp]

Ok thanks

[brisk surge]

Ok I copy a pinned message from Stormi :
You take your ILV/ETH here: https://app.sushi.com/add/ETH/0x767FE9EDC9E0dF98E07454847909b5E959D7ca0E
You provide a 50/50 ratio of both (in $)
You get SLP tokens back
You take those SLP tokens here: https://staking.illuvium.io/staking/core
You stake your SLP tokens in the Sushi LP pool with whatever locking period you want
You claim your rewards as ILV or sILV (whatever you prefer) whenever enough rewards have piled up for you to justify gas fees

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

[vast kelp]

Okay I understand kind of but do I need to swap my current ILV tokens back to eth to then do the lp

[brisk surge]

Yes : when you provide liquidity to Sushi, you need to submit half of one token and half of another. Also if you never did that before, be sure to understand impermanent loss

[jaunty mason]

hey guys, say i have 20 ilv. when staking is there an option to stake only a % of what i have. say 50%? (10 ilv) or do you have to stake your entire 20

[timber cradle]

You can stake whatever amount you want

[jaunty mason]

thanks. do you get more revdis if you stake more?

[timber cradle]

As far as I know only staked ILV gets revdis

[jaunty mason]

okay thanks. but the more you stake the more revdis you receive?

[brisk surge]

Yes sir, it is proportional

[timber cradle]

🧠 🔫

[jaunty mason]

ok

[jaunty mason]

thanks

[coral pike]

Does anyone have any thoughts on my earlier question? https://discordapp.com/channels/760344898200666112/859866659011690537/905266453421391902

[long flint]

Is there a minimum which i have to stake?

[clear cape]

no but maybe $1000 to justify for the gas fees

[long flint]

Okay thanks

So far away from 1k 😅

[brisk surge]

I guess it will be no gas or very minimal

[left wharf]

Don't take it to the bank what I am saying but I am pretty sure:

Migrating the staking application to IMX could be very very complicated.
So I don't think that sth. will change in terms of gas fees to staking...

[coral pike]

that would be awesome if that was the case and would also make it more appealing for new people

[coral pike]

https://tenor.com/view/pleading-puppy-eyes-emoji-puppy-dog-eyes-pleading-emoji-gif-20694234

[cosmic flame]

Hey guys, will the upcoming "stake 2.0" be on the Binance smartchain? I can't find the post talking about it

[left wharf]

Lol this community has nothing on BSC.
Only ETH and IMX as L2.

[brisk surge]

Staking 2.0 will stay on eth mainnet, Staking 3.0 I heard IMX was mentionned by aaron

[cosmic flame]

Oh I see. So 2.0 wouldnt reduce the staking fees at all but 3.0 will?

[brisk surge]

I heard it will reduce fees, but because of code optimizations

[cosmic flame]

well ILV can be bought on Binance, so that wasnt such a stretch to think they could bridge for staking too

[coral pike]

https://tenor.com/view/please-cat-cute-hoping-gif-14904334

[cosmic flame]

thanks man

[left wharf]

I didn't want to sound offensive. Sorry if that was the case 😕

[cosmic flame]

that's ok man... thanks. It's hard to interpret a "lol" online

[earnest shell]

Guys. If I want to unstake my SLP that I have vested. Do I have to make 2 transactions? 1 for claim and 1 for withdraw or just click withdraw and approve the transaction? thanks

as far as I tried to withdraw my Metamask says that its a transaction to stake and not to withdraw. just want to make sure it will take my money out if I click withdraw and not just stake

[karmic magnet]

if I staking and lock it one year in Sushi LP，Can I get reward anytime?? or I get it after year??

[compact lark]

What would people consider the least amount worth slacking on ILV?

[brisk surge]

You can choose anytime to either : Collect the reward as ILV, but it will be locked for 1 year, or collect the reward as sILV, and it will be available right away

[compact lark]

staking*

[sly knoll]

Hello guys
Is it better to stack ILV or SILV ?

(Stacking for 1 year in sushi lp)

[coral pike]

NFA that is up to you to decide based on your goals read this and it will give you some more info on Sushi ilv/ eth pool https://www.publish0x.com/ilvfi/the-ultimate-faq-illuvium-slp-liquidity-pool-staking-xrnxvzo

[charred rampart]

Hello I just withdrew some slp tokens. What address do I need so I can view them in MetaMask?

[cunning perch]

!contract

[woven ibex]

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

[charred rampart]

Also been a while since I’ve staked, do I need that address to withdrawal liquidity?

[onyx helm]

what's the difference between ILV and sILV

[cyan rampart]

Check the #❓〕faq and/or Tokenomics article for a quick rundown.

[dusk gorge]

I approve my token at shushi once and illuvium stake once. So next time if i want stake more, do i need to approve it? Cause it require gas

[magic ledge]

When 2.0 coming? And with the much needed uplift in price, should one claim every 4 ilv?

Instead of 8?

[cyan rampart]

There are calculators pinned here to help you figure out when to claim. 2.0 is still in revision (IIP) and development, there's no firm date on it yet.

[cyan rampart]

Every time you stake, you'll have to claim rewards and stake, so it will cost gas to stake more.

[dusk gorge]

I mean do i need to go thru the process of approving?

[cyan rampart]

Oh - you won't have to approve the contract interaction again.

When staking v2 comes out, you'll probably have to approve that interaction though, as it'll be a new contract.

[dusk gorge]

Ah i see. Thanks for your help

[magic ledge]

Too complicated, tried to use them but couldn't understand

[cyan rampart]

In that case, a good general rule of thumb is to just accumulate more before a claim when gas is high. Compounding in the ILV Core Pool is not terrible, but also not super impactful.

[ember shore]

Is there a Noobs area for staking? I've got ILV on Binance that I want to shift and start staking but I'm super new to this game and need some hand holding

[magic ledge]

What's more

[cyan rampart]

I dunno, whatever you were doing before x2? There's no magic number - you can run some numbers with the calculators.

I personally still feel like anything more than .5 ILV is worth claiming because of my personal views on token appreciation, but you'll have to work out what you think is worthwhile for yourself.

When gas is high I tend towards 1 ILV to claim.

[magic ledge]

I want to know the compounding effect. I'll go 3 I think

Is there a video to understand the calculator

[cyan rampart]

This is kinda the "everyone" area 😛

[ivory sun]

Check the pinned messages, there's also a video guide there

[cyan rampart]

You'll want to transfer your ILV off Binance to a Metamask (or other ERC20 capable wallet) wallet.

From there, you can stake it on the Illuvium website. Note that Binance charges a fee to transfer ILV off their wallet. Additionally, transactions on the ETH network (like staking) cost fees to perform, which is paid in ETH. So you'll also need some ETH in your Metamask wallet.

[ember shore]

Yep thought as much. Thanks

[brisk surge]

Hey bit of a security related question: a friend who works in cybersecurity highly recommended me to keep my crypto in a hardware wallet rather than a hot wallet like MetaMask, considering the risks of getting hacked. Does anyone know if it's possible to transfer your locked ILV and SLP from your MetaMask to a hardware wallet like Trezor?

[drifting canyon]

So can I use a trust wallet and stake ilv?

[autumn cloak]

Sadly no

[drifting canyon]

Just thinking of the best way to buy ilv could put eth in trust wallet and then sushi swap?

[cyan rampart]

Once it's staked, you can't transfer it to another wallet. It may be possible with v2 staking, but it is not possible currently.

[cyan rampart]

I believe Trust wallet works too!

[brisk surge]

Follow up question: if hackers were to get their hands on my seed phrase and password, would it be likely they'd take my ETH right away (and then I'd know I got hacked) or would they wait for the exact moment my SLP and ILV unlock and beat me to unlocking it and steal all my precious gains?

[autumn cloak]

Depends on the hacker lol. But from what I’ve heard, most just drain what you have pretty quickly

[cyan rampart]

Both are possible, all scammers/hackers are different, but the most typical thing I've heard of scammers doing is:

Get access to wallet (never heard of a straight up "hack" - typically people compromise their own seed phrase through user error)
Automate the wallet to transfer funds out immediately as soon as they enter

A sophisticated hacker might play the waiting game, but usually it's a very cut and dry process where they just remove all the funds that enter the wallet.

We should probably use "scammer" instead of hacker as well in this context.

[lavish pollen]

Put it this way. A hacker will not specifically target someone (unless you are a huge whale with a few M in your wallet - even then, who keeps few M in a hot wallet). So if they have your seed phrase, they would drain it immediately instead of patiently wait for your ILV to finish staking. It requires effort and "more maintenance" to track all of these. Source: I'm in cybersecurity too

Usually they cast a wide net and hope someone gets caught through phishing, social engineering, etc..

It's unusual to be specifically targeted by these attackers

[hot lynx]

I use both 👍🏻👍🏻 for #🥩〕staking

Wow what's happening to our channneis both #🥩〕staking and #💰〕token seem so #799010390201466880 or #💬〕general bbl 🤣 👍🏻

[lavish pollen]

Haha. It was a staking question, the diverted to cybersecurity 😂

[cyan rampart]

We were on topic until a moment ago, had a short tangent RE: hardware wallets with existing stakes, which led to how do people actually get scammed 😛

[onyx helm]

how and where do I buy sILV?

[hot lynx]

Ok perhaps it's the message length Np enjoy catch you tomorrow 😅

[cyan rampart]

This is actually pretty #799010390201466880 haha - We can keep tech support stuff out of this channel please 🙂

[lavish pollen]

We can take this offline as this is the wrong channel 😊

[brisk surge]

Apologies

[forest wind]

Hello. I am already staking for a certain period. Now i like to stake Some more. It seems That That is nog possible right? I Get a Message That i should withdraw rewards first. But That is not working. Any tips?

[fringe spade]

Hi Revdivs will also be distributed to SLP stakers?

[sacred cosmos]

You shoild have enougj eth to claim the rewards and to pay the gas fees for staking. I recommend you click stakr donit triggers the claim then stake transactions one after the other. Just make sure to complete the stake transaction right away otherwise your reward might accrue again and youd have to claim again.

[sacred cosmos]

All ilv stakers regardless of which pool it is

[pulsar sonnet]

So I finally claimed my sILV from the Link pool. But how do I get the link now out of it? It's been hours and the sILV showed up immediately in the Dashboard, but my stinky Linky are not in my Wallet 🥺

[sacred cosmos]

Did you withdraw your staked link? Claiming the reward is a different transaction though

[hexed bough]

If you're restaking SLP, you can choose to claim your SLP rewards in sILV, which will just incur one tx to restake, as the ILV pool doesn't have to be flushed. If you want to claim your SLP rewards in ILV, then you will need to first claim/flush the ILV pool (first tx) and then claim your SLP rewards in ILV and stake your new funds (second tx)

[forest wind]

Tnx. When i click on claim ILV in the rewards section nothing happens

[cyan rampart]

!staking @onyx helm

[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

[cyan rampart]

Also worth reading through the #❓〕faq - there's a lot of good information in there.

[hexed bough]

If you want to restake, you should start the journey from the staking page, this will also claim your rewards. Message me if you're having trouble and we can go through it

[onyx helm]

I understood it now

[pulsar sonnet]

Lol. Thank you. Done 🤦‍♂️

[drifting canyon]

Why would 200 pounds just to stake be ever worth it?

[sacred cosmos]

Glad it worked out for you 😄

[drifting canyon]

So it always cost like 200 pounds to stake

[cunning perch]

200 pounds just to pay gas is only worth it if you are staking a huge amount of ILV

[cunning perch]

because Gas is in the area of 200 pounds now. Has been for more than a week

[drifting canyon]

When will it go lower?

Is there any advantages to stake 1 currently?
Or will I be better off just buying things when the game is out?

[cunning perch]

I would suggest not to stake 1 unless you are planning to stay in for a very long time while claiming your rewards every 6 months or so. Cuz you'd make losses than profit if you keep spending this much gas every time you wanna claim

[signal basin]

Unless I am missing something, the price of the SLP token went up a lot today. Why would that be? Thx.

[cunning perch]

If you mean on Zerion, it got updated afaik. should have been 4 thousand something

[signal basin]

Thank you. Yes, I was looking at Zerion

[loud furnace]

where can i find info on how to obtain and how to stake sushi lp?

[cunning perch]

!lp here

[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 so much!

[sonic lotus]

The gas is so ridiculous! I'm trying to add to my SLP stake and it's just nuts.... I've usually done all transactions around 30 - 50 GWEI but right now I'd be happy with 100.....

I'm really hoping there are moments on saturday and sunday where I can actually stake this cause holding on to SLP without staking makes me feel like I'm missing out on so much yield 😦

[daring spear]

hey fam o7 need little help. what is estimation of claiming ILV rewards from staking and restaking them with current gas fees?

[sonic lotus]

A Lot

[daring spear]

i need rough estimate how much i need to transfer to metam

[worthy peak]

If I remember correctly, when gas was around 60, claiming and restaking took around 150$, so now it would be around 500$. But I may be wrong, it was some time ago

[fringe spade]

ohh nice! Thank you.

[daring spear]

that much? jeeez, how many actions are they in claiming? its not like i am puting SLP in pool for the first time

[worthy peak]

yeah gas is a bitch rn

[worthy peak]

#🥩〕staking message

[sonic lotus]

Yea I pulled the trigger around when I saw it drop to 127 - 130. Still a lot of fees but I'm sure it'll be worth it in the long run

[worthy peak]

Sure, but it is really hard rn to push the button😂 Will restake when gas is 100 I suppose🙏

[sly basin]

I have something interesting to share - I staked my ILV in a core pool from my PC. However, when i connect my waller to the website from my MAC computer it doesn't appear. But it does appear when i check on my PC.

[sonic lotus]

I completely understand hahaha! I was gonna wait too but I saw the drop and I had enough ETH to pull the trigger so fuck it

[hot lynx]

With the double transaction that's $400 round numbers claiming on the SLP pool

[worthy peak]

All depends on what amount of ILV you are re-staking, if it is huge enough, then it is bearable

[hot lynx]

Anything more than the total double gas fees is more for some.

[sonic lotus]

about $600 yea 😦

[hot lynx]

I hear you mate a SLP double gas bill is never under $300 and can be $800 .
I thought about it and I will let it sit for another week

[sonic lotus]

Yea I'm legit just gonna chill and only claim in 2 or 3 months. Let it build up nicely

[hot lynx]

Ye the extra few months in the 12momths reward is not a problem imo
I have already claimed some that are under the 12 months in around 8 months time

[raven horizon]

Morning guys

Question: Ive been staking ilv for about 2 weeks now and wanted to claim my ILV reward. The transaction was approbed but the ILV isnt in my account or displaying on the ILV site. Am i doing something wrong?

[hot lynx]

!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

[royal solstice]

If you claim ILV, it’ll add to your stake. New stake with 1 year vest

[raven horizon]

Got it sorted by another friend in general chat

thank you for clarifying guys! Appreciate it

[signal basin]

I should know this already, but want clarity. If we stake in the SLP pool, we will be receiving rev dis when it’s underway. In what form will rev dis be paid, in claimable ILV? Thx.

[sand cloud]

The ILV portion will be eligible for RevDis. RevDis will be in unlocked ILV

[signal basin]

Thanks mate.

I’ve been investing for 30 years. I have never seen anything like this. The tokenomics and potential are insane (good).

[sand cloud]

I love the fud from people who 1) don't believe trailer is actual gameplay 2) don't understand the brilliance of the tokenomics

[forest moat]

what wallet should i use for staking

I have most of my stuff on coinbase but ILV is not on coinbase yet

[signal basin]

Most of us use MetaMask.

[hushed valley]

I use coinbase wallet (american here)

[tender token]

Hey everyone. If I want to 🥩 and already have eth, should I wait for a dip to 🥩 in the ilv/eth slp pool.

[forest moat]

do you have ILV in your coinbase wallet or do you just use ETH

[humble depot]

Does anyone know how we pay taxes on this ilv staking? I feel like my tax bill will be for more $$ then I have

If we have to pay taxes on staking and can’t pull the $$ to pay taxes this could be realllly bad

[cyan rampart]

Totally up to you - Without a functioning crystal ball, no one can tell you whether there will be a dip though, or when it will happen.

[wheat kestrel]

It depends on what country you are located. In the US, you don't have to pay taxes while rewards are vesting (DYOR).

[cyan rampart]

Metamask is good, and seems to have the least issues.

[humble depot]

I’m in USA https://cointelegraph.com/news/crypto-staking-rewards-and-their-unfair-taxation-in-the-us

Pretty sure we will have to pay taxes. Maybe if I wait until after tax season to do next claim

[wheat kestrel]

you have to have full control of the assets before they are taxable. again, DYOR.

[cyan rampart]

Permastake, never pay tax? 😉

[humble depot]

Let’s hope so

Otherwise I’ll be taking out a reverse mortgage to pay taxes

[wheat kestrel]

As with a crypto airdrop, you will only be responsible for the staking rewards and have tax obligations if you receive them on your wallet and are in full control of them. Once you get the staking rewards, you need to report them as ordinary income, based on their FMV at the time of receipt. https://blog.cointracking.info/do-you-pay-taxes-on-crypto-staking-rewards/

[humble depot]

Ok once they hit my wallet

That makes sense

I almost had a heart attack lol. My ilv stake will be worth half a milli by tax season

[cunning perch]

guys if your discussion is getting more to tax related than staking, please use #799010390201466880

[wheat kestrel]

it's taxes on staking? think its covered, no need to discuss further

[tender token]

Thanks for the response! For sure I'm just trying to make sure I have a good understanding of the 🥩 process before I pull the trigger. Sounds like it would be better if a dip happened but the question is whether or not that will happen.

[humble depot]

Yeah I think it’s very relevant

[cunning perch]

yes, but this channel is mostly to help ppl stake and if they have staking questions. Tax takes it a bit off topic as not all countries have the same issue

[humble depot]

Ok, thanks man sorry was in a bit of a panic lol

[cunning perch]

It's ok 🙂 I sympathize for sure haha

[cyan rampart]

Buying the dip feels good for sure, on the flip side, waiting can mean you're left out. If you have any questions about the process, feel free to ask, there's also some great resources in the pinned messages (calculators, video guides etc.)

[humble depot]

I almost would rather to get more ilv then ilv be higher priced right

[cunning perch]

smart. RevDis takes the number of tokes you hold into account.

[humble depot]

Exactly. At one point I was earning 2 ilv a day. Now with all the price increases barely 1

[cunning perch]

don't talk to me anymore. 😄 I only talk to shrimps haha

[forest moat]

how much do you have staked

[cyan rampart]

https://tenor.com/view/forest-gump-wave-hi-hello-howdy-gif-22164679

[humble depot]

17 slp

[keen sky]

Hey everyone! I'm thinking about spending about an eth on ILV tokens, which is around 4 ILV. Is there a calculator that let's me know if it's worth staking?

[humble depot]

When is investor unlock?

[cunning perch]

There are calculators in pinned in this channel that can help you

[cunning perch]

starting from March, linear. But considered staked unless withdrawn

[signal basin]

Another question I should know the answer to. When we stake with the SLP, are people actually buying our ILV tokens? The APY site suggests my ILV position is decreasing and my ETH position is increasing. Thx.

[keen sky]

Thanks, I'll check it out

[cunning perch]

ofc. You lose ILV to ETH if it pumps. It's normal Impermanent Loss

[signal basin]

Okay thx. But if the price of ILV falls again, more ILV would come back to me, correct?

I have a tear in my eye when they leave me.

[cunning perch]

not exactly. It both tokens drop, ppl will be buying both tokens cheaper so you might still lose them. It's an unlikely senario these days that ILV would fall and ETH pump. For you to get ILV, ETH needs to out-perform ILV

[signal basin]

Thx like always.

[cunning perch]

anytime my friend 🙂

[honest crescent]

Hey guys, I've got a question. This is specific to V1, Core Pool and Locked 2X weight. What exactly are the options available when V2 is released? I understand there is an opportunity to migrate at the same weight into V2. Are there any other potential opportunities? Specifically, I would really love to have my ILV Core Pool released so that I may turn it into SLP and then stake it in V2 for 24months to get the 2X weight. I have read the pdf in pinned. This might be Hopium, but it never hurts to ask.

[cunning perch]

Hey. I'm glad you have read it. That proposal is an old one and a few of the points might change. So when your tokens are unlocked you will have to migrate to V2 to get RevDis/YF rewards. If you withdraw and wanna add or if you simply wanna add new stake, you will have to lock for 2 years to get 2X weight. Now, migrating directly to V2 might require a lock it is approved by the council after the released of the finalized version. The idea of V2 is to minimize gas (esp for SLP as it has 2 tx for claiming ILV), having the ability to withdraw all unlocked tokens with one tx rather than 200 on V1, and bringing even more dump-resistance to the ecosystem. The finaized version will be released soon as the RevDis for land and Death Road will be paid on it.

[honest crescent]

This reads to me, that I would have an opportunity to move from the ILV Core Pool to the SLP Core Pool at the cost of losing my V1 stake duration bonus.. I'm ok with that!

[hoary sorrel]

Hi, I have tokens staked in the SLP, I have yet to claim rewards. Can someone help me understand, if I just claim without re staking, the only compounding effect is from revenue distribution, and if I claim ILV it will remain locked and I won't be able to re stake into the main pool? Or it is automatically staked in the main pool?

[cunning perch]

NO you cannot move from one pool to another. you have to withdraw, get SP and then stake it again however long you want. except to get a 2X, you're gonna have to stake for 2 years

[honest crescent]

But I WILL have an opportunity to withdraw it during the migration? Right now, it is locked, and not an option. I understand I would have to treat it as a new stake/ 24mo for 2x weight

[cunning perch]

SO you have SLP. claiming SLP rewards will require 2 TX (one for ILV pool claim and one for SLP pool claim). AFTER the claim, (if in form of ILV) your tokens will be locked for one year. If claimed in form of sILV, they will be moved to your wallet to be used in game/land sale/Illuvatar Auction

[tender token]

Yea that's my feeling too might be be nice to buy the dip but missing out on 2 months of 🥩 doesn't seem worth it. I think I understand the concept overall, but if I want to invest in the ilv eth pool do I need to actual buy ilv or do i just buy the slp token with eth?

[cunning perch]

yes. migrating to V2 applies to unlocked tokens. When your tokens are unlocked, you will have 2 options: 1) withdraw 2) migrate. Now if you wanna get SLP, you have to withdraw, get SLP and lock back

[cyan rampart]

You'd spend just under half your ETH on ILV (save enough to cover gas fees - calculator in the pinned messages), you'd use your 50/50 ILV/ETH to provide liquidity on Sushiswap, then you'd take the SLP tokens to Illuvium and stake em.

[cunning perch]

So many words and sentences....MY EYES 😄

[honest crescent]

I'm sorry, but thanks for working with me. In my case, I am locked. But wondering if they "unlock" during the migration. This would provide an opportunity to do something like I mentioned above.

[latent token]

I am trying to stake under core pool but the transaction dont seem to go thru even though i have enough eth for gas.. when i click on explorer to view, it says "Sorry, We are unable to locate this TxnHash". can anyone advise ?

[hoary sorrel]

Thank you for the response

[cunning perch]

Oh don't worry you can ask whatever is on your mind. For now you don't have to do anything. once unlocked (presumably after the implementation of V2). You will most probably be faced with the two options I told you.

[cunning perch]

hmm....That's a weird one. Are you using a Ledger?

[cyan rampart]

Most of what I'm reading for that error is saying to just wait, and try again later.

[latent token]

No, i am using metamask

[cunning perch]

Then I suggest doing what @cyan rampart said and check if all your apps and browsers are updated and cache empty

[latent token]

I have been trying for at least an hour.... no luck

[tender token]

Okay got it. So I match the usd value of the eth with ilv buy the sushi token then stake on the website, then profit( eventually hopefully lol). Thank you so much.

[latent token]

would restarting my pc help? am using brave browser...

[cyan rampart]

Definitely check that everything is up to date - MM, browser etc. Restart your computer and try again. Do you have a pending transaction on Etherscan, or is it totally failing to enter a transaction?

[cunning perch]

Maybe try using Chrome. I've seen many ppl have issues with brave.

[latent token]

No pending transactions at etherscan

[latent token]

ah... ok. will reboot and if it still wont work, will change to chrome. thanks

[cyan rampart]

If you're able to, just try Chrome as well. Like Arash mentioned, sometimes Brave causes problems.

[quaint socket]

Why has the APY of the SLP pool being going up recently?

[cyan rampart]

The APY is a derived number, and since your stake is 50/50 ETH/ILV, but your rewards are exclusively in ILV, increases to the price of ILV increase the USD value of your ILV rewards, resulting in a higher APY. The actual number of ILV you're recieving hasn't changed, but the value of those ILV has increased.

[latent token]

is ilv v2 coming up soon? should i do core stake flexible or locked better?

[quaint socket]

Makes sense, cheers

[cunning perch]

Read this. It can help you #🥩〕staking message

[atomic orchid]

yo guys are there any plans for staking on a L2?

[cunning perch]

Staking V2 is going to solve many issues significantly than V1 has atm, but to actually stake on L2, No. By next year ETH 2.0 will have solved the scalability and gas.

[atomic orchid]

cool, ty

[rough heart]

Hi just wonder how much is the minimum for staking ?

[trail sail]

What are the implications if ETH 2.0 can’t figure things out? I guess with immutable x the gas barrier is just to move funds into the ecosystem but are fine within?

[cunning perch]

No minimum as long as it justifies paying gas for as you need gas for every stake/approval/claim/withdraw

[rough heart]

Oh so the staking won't happen under L2? as what i know is L2 will omit the gas fee

[cunning perch]

IMX will be implemented for the game and market place. Staking is another platform done on Staking website and directly on ETH. So, ETH 2.0 should be able to fix the gas and V2 should even do further. Plus the bear market itself will drop gas to cents probably

[cunning perch]

No. It will not be on L2. V2 should drop it significantly and later ETH 2.0 will help even more.

[rough heart]

Sorry i m new in crypto world

[cunning perch]

No worries. Ask whatever questions you have and there are wonderful ppl that can help you find answers

[rough heart]

what's V2?
(waiting for slowmode)

[cunning perch]

read this. It can help you. Also you can find the initial proposal pinned in #809220563397902346 many parts of which might change #🥩〕staking message

[wheat kestrel]

Another thing is, as more things move to L2s, ETH L1 will become less congested so likely some relief coming even sooner than ETH 2.0.

[timid torrent]

does anyone know how to go back vested ilv after claiming silv

there should be a way to go back to locked state for 12 months

[cunning perch]

you mean redo the claimed sILV back to ILV?

[timid torrent]

not unlocked but like 12 months vested

[cunning perch]

I don't understand what you mean sorry. If you claim ILV, it will be locked for 12 months. If you claim sILV, it will be released to your wallet.

[timid torrent]

how do I go back to second state. SILV --> "it will be locked for 12 months"

[cunning perch]

You claim ILV, it goes into "vesting" mode. Vesting means it needs one year to be minted. All of which mean it will be locked AFTER you claim your rewards in form of ILV.

[timid torrent]

you repeat the same not answering what I asked am asking if I claimed silv and want to got back to vested ilv

[cyan rampart]

If you claimed sILV, you now have sILV. It's not backwards compatible, you can't change unlocked sILV into locked ILV directly. If you want ILV rewards, you need to claim ILV rewards in the first place.

[cunning perch]

you cannot redo the process if that's what your asking. your question is quite unclear

[meager prairie]

@timid torrent how much silv did you claim???

[timid torrent]

so silv will not get any rewards and there is no going back

[cyan rampart]

sILV cannot be staked, and does not generate rewards, correct. There is no going back once you've chosen what you claim your reward as.

[cunning perch]

No. sILV is an in-game currency and will get no rewards

[cyan rampart]

You can still claim ILV on your next claim though, if that's what you wish to do.

[jade pond]

What is the point of sILV then?

[cunning perch]

!silV

[woven ibex]

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

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

[timid torrent]

its kind of weird if person is locking in back it should be similar

silv --> 12 months lock then --> unlocked ilv

[cunning perch]

When you claim sILV, you are already taking the equivalent amount of ILV out of circulation, meaning the same amount of ILV will never be minted. therefore there is no back-stepping. you claim sILV, you will have sILV forever. while claimg ILV will lock ILV for one year with the compounding effect.

[silent apex]

Wait when using SLP pool and taking out ILV, can you sell it right away?

[cunning perch]

Claimed ILV rewards will be locked for one year from either pool

[boreal cape]

Nope. It will vest for 12 months.

[silent apex]

Thats sounds horrendous :\

[cunning perch]

they will be compounded to your stake with a weight of 2X, generating more rewards and stop potential dumps.

[wheat kestrel]

Your patience is unmatched. I don’t know how you do it lol

[boreal cape]

I think that sounds really good. For all the right reasons. 😊

[silent apex]

Who knows when 2-3 mil flood the market between now and March 2023

[cunning perch]

haha 😄 thx bro. I'm a teacher. Dealing with questions quite everyday

[boreal cape]

True that. 😊

[rigid ice]

Would it be worth it to stake any less then like $1000?

[cunning perch]

This can help you #💰〕token message

[cunning perch]

Personally wouldn't advise that. You will have to pay gas for approval, stake and EVERY claim. Staking itself will cost you more than $100 as will each claim. (but this is my personal idea)

[silent apex]

Has anyone staked in SLP for the first time recently? Just tying to calcualte howm uch gas fees will take up

[cyan rampart]

There's a calculator in the pinned messages.

[rigid ice]

yeah I was assuming the gas fees would make it not worth, thanks.

[signal basin]

It costs quite a bit

[boreal cape]

Gas is so untamed in the last few days.

[signal basin]

I’ll be doing it again when my funds arrive.

[silent apex]

What's causing these super high gas prices? I used to be like 50-80 gwei

[signal basin]

I’ve sold a lithium miner stock and my Chinese yuan position to buy and stake ILV. That’s how confident I am in this team.

[meager prairie]

@silent apex lots of trading activity and nft drops

Crypto popularity is growing rapidly

Coinbase is currently the number 14 app downloaded from app stores

[boreal cape]

I didn’t know that. But sadly, they don’t trade ILV

[signal basin]

Yet

[boreal cape]

Hopefully soon. Can’t use binance in the US.

[silent apex]

Wait if you think the Prices Of ILV is going to sky rocket then it will be a bad idea to stake due to Divergence Loss right?

[cunning perch]

you mean Impermanent Loss? ILV going up, you will lose it to ETH. For that you are receiving more rewards to compensate the loss

[humble depot]

$540 to cl;aim my ilv

[boreal cape]

Hence the high APY.

[humble depot]

is it still worth it to claim so often w this gas

[silent apex]

Yeah impermanent loss. But that's not what I read in the example of this article. If ILV pumps hard then they sell it to get more ETH. And then when you take your stake out you're left with less ILV than you originally put in which means you're better off holding it :\

[boreal cape]

Depends on how much you stake/claim. And it is always up to you.

[cunning perch]

That's what I meant by saying "you will lose it to ETH" it means you will get less ILV (lose your ILV) and more ETH

[silent apex]

Hmmm and if ILV tanks you get more of it and less ETH

[cunning perch]

The scenario that ILV tanks is probably due to market or ETH tank. So ppl will be buying both your ETH and ILV cheaper. The only way you will get more ILV is when ETH out-performs ILV which is pretty difficult cuz ETH has a very big MC while ILV doesn't.

[silent apex]

I see. Wouldn't it just be better to hold ILV than to stake it if you think it'll go crazy big? Like some people say 4k in Q1 lol

[cunning perch]

you can always stake in the ILV-only pool. It won't undergo IL

[silent apex]

Okay i see thanks!

[boreal cape]

This is NFA. but it all depends on the person if he/she will stake in which pool after learning all this kind of stuff. Personally, I will still stake considering all the risks involve and all the future benefits of course.

[silent apex]

NFA?

[boreal cape]

Not Financial Advise

[livid plaza]

Hello guys! Just bough Illuvium and am wondering how to stake it. Watched videos for an hour but I don't get how I'am about to earn anything since ethereums gas is so high right now. I don't get why you need gas to stack as well. Can someone give a hand? 🥲

[cunning perch]

Hey. Welcome to the family. Since we are on ETH mainnet, any transference/swapping/approving/staking/claiming and withdrawing needs gas which is paid in form of ETH. So it is advisable to engage when gas is cheaper (usually in the weekends)

[livid plaza]

Got it, thank you! Also, I have my Illuvium on Binance, should I transfer it back to eth then send it to metamask, then to Sushi and etc.?

[cunning perch]

you can simply send ILV to MM. Make sure to add the token address manually on MM to see the token. you can find it here:

[woven ibex]

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

[livid plaza]

Oh, thanks mate! So I'll send it to MetaMask and then I don't need to transfer it to Sushi, correct? I just wait till the gas price is lower and I start staking at illuvium.io directly with metamask ?

[cunning perch]

You won't need to intract with Sushi unless you wanna stake for SLP. Yes you can stake ILV in ILV pool directly

[low flicker]

Do the staking APY change throughout the year?

[cunning perch]

yes. They drop as more ppl join and rewards distribution drops 3% every fortnight

[low flicker]

Does the apy drop depending on how many people are staked or how many ilv tokens are staked

[cunning perch]

the more ILV gets staked, the more it drops + the 3% drop every fortnight (2 weeks)

[low flicker]

🤌🏾nice so in my future predictions people gonna stop staking

[cunning perch]

Nope. PPl will keep on staking for RevDis. YF rewards are important for now. later, not so much

[modest crown]

where can i find the price for 1 SLP (ilv+eth liquidity pool)

[cunning perch]

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

[low flicker]

Yeee I'm sure everyone is staked in flex because everyone wants their money back. I wonder who the few who staked for a whole year are gonna feel.

[cunning perch]

tons. Me included. I would have staked even more if I could

you are missing the point of RevDis

[low flicker]

Revenue distribution I understand it

[cunning perch]

yes. 100% of it

[low flicker]

It's a beautiful system for sure but what are the rules for staking 2.0 do they get the same kind of benefits

[cunning perch]

this can help you #🥩〕staking message

[low flicker]

If I remember those who didn't stake after September aren't part of the staking 1.0

[rancid pine]

sorry to bother, I've seen that in some project that allows staking there's a chart where you can see the optimal amount of rewards to claim for the auto-compound given the amount you have on stake, is there something similar for ILV?

[cunning perch]

every one is staked on V1 until V2 is implemented

[low flicker]

Aaaaaahhh

[cunning perch]

well there is no Auto Compound in ILV. You have to manually claim

[livid plaza]

Arash, so the weekend when the gas is lower, all I have to do is transfer my Illuvium from Binance to MetaMask and start staking? How much Eth should I prepare, any idea? Thanks in advance.

[quiet hatch]

Deraji is your man for that https://www.publish0x.com/ilvfi/deraji-s-illuvium-ilv-staking-calculator-major-updates-and-n-xdgdelv

[low flicker]

Then those who are staked already in stake v 1 can keep their weight once they stake again right?

[rancid pine]

well after the claim is auto compound, other project dont have the feature and you need to actually approve again the smart contract

[cunning perch]

yes. Binance to MM and MM to ILV pool (approval (gas) and stake (gas)) and the gas depends on the day you stake. I would suggest having at lest $300 on the side for it

[quiet hatch]

Got a question re: claiming.... my SLP + ILV process rewards transactions are currently stuck pending, as gwei has gone a bit insane at the moment.

When it does finally come down to my gwei price, will it claim the total amount of ILV that's redeemable? Or will it only claim the amount that was available when I triggered the transaction (a few days ago now!)

[rancid pine]

thanks

[cunning perch]

yes but it's not auto compound if you claim manually, After the claim, it will simply be compounded (literally moved to the ILV pool and counts as staked)

[livid plaza]

So if the apy is 100%, lets say i stake 1000$ worth of Illuvium, after 1 years i will win not 1000$ but 700$ if all 300 is used in gas?

[cunning perch]

I think it would claim the part that you were hoping to claim. Not sure though.

[quiet hatch]

Yeah I'm guessing that's what'll happen too.

Hopefully it claims everything though... Otherwise by the time the TXs go through, I'm going to have to claim again lol

[low flicker]

Arash if I don't claim my stake for the whole year and claim it at the end of the year I still have to wait for the vesting period right.

[cunning perch]

well APY is around %40 now, so if you stake $1k with a weight of 1, you should get something around $1400, but you won't cuz it keeps on dropping

[quiet hatch]

I was trying to read the contract code, but couldn't find anything referring the the number of ILV that will be claimed... So MAYBE it'll grab all of it. We'll see 🤔

[cunning perch]

if you claim ILV yes. You will only get your ILV rewards after one year AFTER you claim them. You can always claim sILV and get it immediately

[livid plaza]

how will i get 1400$ if there is gas to pay, I really don't get it

[sinful hatch]

Is that SLP price on Zerion app accurate? It had a massive spike recently.

[cunning perch]

hope it works out for you. I always use fast gas + raised limit and wait only 20 secs and tx is done

[cunning perch]

I did not take gas into account. The money for gas is on the side made for gas. That was my suggestion. to put at least $300 for gas on the side extra to your ILV

[cunning perch]

yes It got updated today

[low flicker]

Ok scenario, I staked my ILV for a year for a weight of 2.0 so the value of my stake is my stake times 2. Now if I claim my rewards in ilv will those be counted as a weight of 2.0?

[cunning perch]

precisely

[quiet hatch]

Ah yeah, I'm too tight for that :D.

My strategy thus far has been:

• Start the transaction on Friday evening (once I have enough to claim)
• Set gwei to a reasonable price 35-40

Then it usually confirms over the weekend when prices drop. But they didn't drop this weekend, only went as low at ~70gwei^^

[cunning perch]

haha that's a tight spot there 😄 I like your hopes

[quiet hatch]

They just sit like this until gwei drops (usually on Saturday/Sunday) but yeah.... this time I might be waiting a while lol. Worst case is I speed them up ^^

[low flicker]

So I'm basically holding onto the risk for a yea hoping the game goes accordingly. So in order to keep my 2.0 weight on my stake I can restake right? If I claim does that take my opportunity away to restake at a 2.0 on v2 of staking

[cunning perch]

yeah. That's too long for me 😄 I can't have undone stuff in my schedule haha 😄

[quiet hatch]

Yeah it worked well the last 3 claims, but now I'm stuck in limbo 😆

[cunning perch]

When you lock on V1 for 1 year, you get the 2X. When your tokens are unlocked, to keep the weight and keep getting rewards and RevDis you will have to migrate to V2. Now how that goes will be released with the finalized proposal of V2

[low flicker]

I've almost accrued 1 ilv I want to claim but I don't know all the regulations that come down to it

[cunning perch]

!claim

[woven ibex]

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

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

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

[low flicker]

Might as well wait for v2 to come out before I do anything with my stake then.

[cunning perch]

then you will have to lock for 2 years to get 2X weigt

[rancid pine]

the revdis ilvs can be stockpiled for a while so i can pay only 1 time the gas fees right?

[low flicker]

That's horrible

[cunning perch]

you can let them pile until you feel comfortable about claiming them. I do this when gas = 1% of my total pending rewards in $

[cunning perch]

No it's not. It is to minimize dumping as much as possible and for the true believers and supporters of the project

[low flicker]

Very smart Arash I'll follow that principle thank you for helping me understand how to go about my claims Andy stake

[cunning perch]

Ah no worries. happy to help 🙂

[low flicker]

I wonder if I'll be able to keep my stake still stake in v1

Or if they'll find a way to combat it to where I'm forced to migrate.

[cunning perch]

as long as you are locked on V1, you are on V1.

[low flicker]

Sounds Gucci 😎

Can't wait to see how the gameplay is like I remember chiming in when they were about to pull out on the "pokemon" "monster catcher" concept of the game and only go for the auto battles side of it

[rancid pine]

to give you an idea, i started staking around 1 week after it was released and i've almost doubled my initial ilv (of course it was divided between the 2 pools) so to me, have it locked for 1 year its perfectly fine, would've done 2years if there was the option

[low flicker]

If I remember Aaron was against it and Kieran wanted it so bad

[cunning perch]

well the gameplay released on Saturday showed everything already

[low flicker]

I saw it I was literally replaying and repaying and showing my friends haha! And nice divine! I only got a few ilvs to my name but I'll be keeping an eye out for every opportunity in this game

I started staking literally in the beginning of August prob around the 2nd

I was very early into the dip for sure I could've been earlier and more resilient I would've had more ilv rn

[cunning perch]

you should be doing fine then 🙂

[low flicker]

I'm doing quite alright 😎

[silent apex]

so scary to start staking with ILV so high :\

[low flicker]

Definitely is Jabben.

[sinful hatch]

Thanks for confirming.
Am I correct with below:
If 1 x SLP = $5000.
If I were to exit, I would divide that by 2 for a figure of $2500.
I then divide $2500 by ETH price and divide the other $2500 by ILV price and that is the amounts of ETH & ILV I woulf receive?
Hope that makes sense...lol

[cunning perch]

If you are staking in SLP and have $5k, you have to add $2.5k for both and stake. The amount of SLP you get might not be one. I guess the docs Deraji has made can help you with the calculation. But how much of it you get back after you exit the pool depends on the IL you have undergone.

[silent apex]

can you link the video?

[cunning perch]

you should be able to see his calculators pinned here also here (I meant docs) #🥩〕staking message

[toxic spoke]

I just claimed 1.7 ilv rewards, cost $177. That's not unreasonable, right?

[cunning perch]

well you paid about 10%. that's too much for my taste

[toxic spoke]

Yeah, I guess that it kinda high.. was the lowest I've gotten over the last few days.. I have a life!

but by staking now and not 1 month from now, I should make up the difference of a better gas price.. I would think? (and no, I don't really ha vea life)

[cunning perch]

well, sure. 1.7 is not a lot, but for sure you are compounding and getting rewards for it

[toxic spoke]

I just can't believe how fast it's all been accumulating, plus with the price doubling.. Been very happy so far! Thanks for everything!

[rancid pine]

wait on saturday and sundays, the gas usually drops quite a bit

[delicate plaza]

What's everyone's thoughts on gas prices? Do you think we will see a drop at all or is this going to be the new normal until the bull runs over

[rancid pine]

i think it wont go under 70-80 gwei till the bull run ends, too much hype on nft and mostly being on eth bring the gas to the moon

[earnest shell]

are u able to somehow undo those by sending yourself 0 ETH with the same nounce?

[charred rampart]

hey is there a video on withdrawls of slp?

[full sedge]

hi guys, what happens to my SLP after staking is finished after a few years ?

[charred rampart]

basically i have my slp in my metamask. now im in sushi and i can see a "remove" action for my sushi swap liquidity.

[charred rampart]

you can remove the liquidity

[earnest shell]

tell me what happens

[charred rampart]

haha im scared

[gloomy gazelle]

SLP tokens can remain staked to get revdis

Staking does not end. The token distribution phase ends.

[charred rampart]

yes the remove action worked. you receive the equivolent of eth ilv/slp tokens

cost me 1000$ all toghether to get it out all the way

[pale trellis]

Will gas ever come down?

[earnest shell]

did you pay to remove liquidity?

[charred rampart]

yes

[quiet hatch]

I'm not sure, I think I'd have to pay a gas fee to do that (to send the cancellation transaction)?

But ideally I'd like to cancel them, and try again this weekend, to ensure it claims the ILV that has accumulated over this week whilst waiting for the current claim transaction to execute

[gloomy gazelle]

You could cancel transactions. I’ll share a link.

https://metamask.zendesk.com/hc/en-us/articles/360015489251-How-to-speed-up-or-cancel-a-pending-transaction method 3 is one I’ve used successfully

The others work too. But just different

[quiet hatch]

Does it cost gas to cancel pending transactions?

And thanks, am reading now :)

[gloomy gazelle]

Yeah. But set limit to 21,000 and the cost will be lowish.

You’ll want to confirm things are actually pending on etherscan and not just on metamask (method 2)

[charred rampart]

Can i ask everyone a question? Why does ILV have a different icon in metamask? What is that? Also, the mobile version and desktop version of metamask both have different icons. Its sort of confusing, hasnt ILV come along far enough to not have that bizaare icon in metamask?

[quiet hatch]

Nice ok I read it

Thing is I'm trying to avoid the extortionate gas fees haha. Would probably end up counter productive paying gas to cancel, if it might execute this weekend as normal (unless we're entering a new paradigm in gas prices again, and I'll have to admit defeat 😆 )

Yeah they are pending on etherscan atm tho.

[quiet hatch]

Unless this makes it actually decent price ha. The 'gas limit' part I don't quite understand yet

[gloomy gazelle]

Fees are gweiPrice X gas limit

Lower limit has less cost. BUT NEVER REDUCE LIMIT UNLESS YOU KNOW WHAT YOU ARE DOING.

!staking @nocturne geyser check these out

[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]

!ilv

[woven ibex]

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

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

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

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

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

[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.

[quiet hatch]

I'm assuming the limit is something to do with contract sizes? Ah I'll do some research tomorrow to actually understand this part then :)

[gloomy gazelle]

Exactly yeah. Limit is based on complexity of the contract/transaction. Wallets estimate the gas limit. On bad occasions they get it wrong.

Sometimes increasing limit a little can be a safe way to make sure the transaction succeeds. But lowering it will almost always ensure failure. Running out of gas

[quiet hatch]

Riiight okay, that starts to make more sense then. As I noticed the limit changing between say a regular transaction, Uniswap and claim. So was assuming it was to do with contract complexity/data size etc.

Cool that's good to know, I'll keep this in mind and do some reading tomorrow to fully understand :D

[quiet hatch]

Yeah so messing with gwei is fine (relatively small number, you can easily look at history and estimate future prices), but if you mess with the limit multiplier, it'll have far more drastic results in the total max fee hah

Makes a lot of sense now actually :D. So it's a scaling thing for different transaction types/complexity, whilst keeping the gwei as a more standard number :)

[finite leaf]

Quick question if I lock up a stake for 13 months are the rewards also locked up for the staking period?

[jaunty cairn]

My ilv is staked for 1 year but it is still giving me the option to pull it out when I click claim ILV.. Is that just normal or can i actually pull it out?

[normal umbra]

I believe sILV is available immediately if chosen while ILV is locked

[gloomy gazelle]

The rewards claimed in ILV are locked for 12 months from the moment of claiming regardless of the status of the initial deposit

[potent sable]

Hey guys I am super confused. If there are only 700k circulating supply and the total value locked in ilv pool divided by the token price is closer to 800k tokens. What am I missing?

[gloomy gazelle]

Probably you are not counting the tokens that have been distributed and claimed as rewards that are currently vesting in the ILV only pool.

[earnest shell]

Did you manage to cancel your transactions? Im struggling here

[quiet hatch]

I'm not bothering to cancel it yet， waiting till the weekend to re-evaluate gwei price then.

But check the message I'm replying to for details on how to cancel @earnest shell

[earnest shell]

I've tried that and still didnt work 😦

[left wharf]

what a hacker you are!
Thanks for sharing. I'll try to set custom nonce next time ;)

[odd knot]

Hi! Is there someone I could to ask a question about staking? I was directed here haha

[gloomy gazelle]

Ask away. Lots of helpful people are here

[soft sparrow]

Can i stake through binance?

[odd knot]

So when my vesting period is over, will I be able to claim my rewards immediately without waiting that year?

[cyan rampart]

Stake > Claim > 1 Year from Claim, your vesting rewards unlock

When your initial stake lock period ends, you will still have rewards vesting, if that makes sense.

[lean nest]

When I have a number of ILV that I think is worth claiming. When/how will I know it will generate a Revdis? Is it completely random when claiming?

[odd knot]

Hmmm when the lock period ends does that just mean I can take out my original money I put in?

[cyan rampart]

Every claimed reward vests for 12 months.

[cyan rampart]

Yeah, your stake will be unlocked when the lock period ends. Your rewards are on a seperate schedule, and unlock (or finish vesting) 12 months after you claim them.

[odd knot]

Interesting okay, so when I claim them does that mean I’ll generate rewards faster?

[cyan rampart]

Revdis is revenue distribution - all staked ILV (this includes claimed reward ILV, which is staked in the Core ILV Pool) are eligible for revenue distribution. We'll get revdis income when there is revenue to distribute 🙂

[delicate plaza]

Is there a way to see if you have any pending transactions ?

[cyan rampart]

You can check your wallet address on Etherscan

[cyan rampart]

As soon as you claim rewards, they start generating their own rewards in the ILV Core Pool. They are staked at a 2x weight for 12 months while vesting.

[odd knot]

To me this seems like it would be an infinite loop of claiming rewards and waiting a year and claiming rewards. Am I confused about something? Is it ever possible to fully get out?

[cyan rampart]

Yield Farm ends in... July 2024 I believe.

[odd knot]

Hmmm interesting haha, so at that point all my ILV that’s in my rewards will go to my MetaMask wallet?

[cyan rampart]

After they finish vesting 😉

They'll still be collecting revdis while vesting at that point.

[odd knot]

So until July 2024 it is an infinite loop? And then after July 2024 I won’t collect anymore rewards but I’ll still have to wait a year to collect the money from my previous rewards?

[cyan rampart]

Infinite for 3 years, I suppose. Not traditionally infinite, but yeah, you'll always have some rewards pending and vesting until 2024.

Revdis is distributed as unlocked ILV, so you'll be recieving that as well once we have a revenue stream.

[odd knot]

Great, and after 2024 I’ll still have to wait another year to get the rewards from before?

[cyan rampart]

Yeah, the earliest you could completely clear your investment out of the pool is July 2025.

Although if you pull your initial stake when it unlocks, it will be diminishingly small amounts of ILV at that point.

[odd knot]

Awesome thank you, that helps a lot. Can I dm you? I have another question but slow mode is kinda bugging me

[cyan rampart]

Sure 🙂 Just remember we'll never DM you first!

Impersonators and scammers etc.

[odd knot]

Got it! Thank you 🙂

[limber yacht]

If I staked with a lockup period of 28 days, after 28 days are over will I have to restake?

[brisk surge]

Yes you will be able to unstake and restake again for whatever amount of time you want too.

[limber yacht]

but I can keep staked?

without haveing to pay gas fee again

[brisk surge]

Yes you can keep it staked, it would be the weight at which you staked in the first place unless you restake for a different amount.

[limber yacht]

thanks mate

[brisk surge]

No problem!

[delicate plaza]

Has Metamask changed it's UI since the release of the ILV staking video? When I try to use sushi swap I can't see where you change the gwei, in the staking video it's present straight away on the pop up

[somber topaz]

is it worth staking only for a few weeks, considering gas fees?

[brisk surge]

I would say yes, as long as you are making more from the interest of the staking then the gas fee itself.

[somber topaz]

Have u personally staked yourself, and did you opt for locked in or flexible?

[brisk surge]

I have staked in both ILV and ILV/ETH for the full time and have added more into SLP recently.

[limber yacht]

gas fees hit when claiming rewards?

[brisk surge]

It differentiates let's say you are new to the staking and haven't staked yet, your fees will be much cheaper compared to if you have been staking for a while until v2 comes out and reduces the fees that it cost. Also is going to depend on what the current gas price at the time is.

[delicate plaza]

Is it possible to do any of the buy and staking process via scale solutions like Matic etc?

[limber yacht]

I staked today 1.02 ilv... planning on buying more with my axie revenue... assuming I want to claim rewards in a month gas fee will apply when I want to claim, or only when you stake? Sorry if dumb question I am new to this world

[brisk surge]

You can't really figure out what your gas fee would be 100% since it's always changing depending on the price, but what you can do is use this calculator https://cooper1903.shinyapps.io/stakingyield/ but your amount in ILV that you have and see in a months time (the estimate) that it's going to give you.

[limber yacht]

ah okay so a gas fee will exist.. thanks Tony! do you think with 600 usd worth of ETH plus whatever SILV I get will be nough to get started in game?

[brisk surge]

I think so yes since you are staking it's going to be more and that should cover the costs for getting shards+traveling fees in the future

[limber yacht]

excellent thanks a lot for all the help

[brisk surge]

Hello, I need the help of the illuvium team. I am staking illuvium and my wallet which is linked was hacked. How can I change the wallet address linked to my staking account?

[brisk surge]

You can't change your wallet for the staking, only thing you could do is unstake your tokens and then send those tokens to a different address.

If I can connect my wallet to illuvium.staking then the hacker could do as well and steal the funds

[brisk surge]

Are you trying to say that someone has your seed phrase?

[gloomy gazelle]

It has changed. Since the start of eip-1559. #🥩〕staking message they put out this video pinned in here

[delicate plaza]

!fees

[knotty river]

Fast: 224 Standard: 224 Slow: 223
Simple ETH TX: $21.63 (0.0047 Ξ)
Token Approval (ERC20): $52.47 (0.0114 Ξ)
Token Transfer (ERC20): $49.71 (0.0108 Ξ)
Uniswap Trades: $123.81 - $206.19 (0.0269 Ξ - 0.0448 Ξ)

[gloomy gazelle]

Of course that is true. But many hackers use scripts to sweep any tokens out of your wallet. And those usually don’t take into account staked tokens.

There is a possibility that with v2 there will be potential to migrate your UNLOCKED stakes to a new wallet.

[delicate plaza]

If your tokens are in a locked stake - would a hacker who got access to your wallet have anyone of removing them?

[brisk surge]

If someone has access to your wallet just like you could unstake they could as well, if it was locked then they would have to wait a certain amount of time depending on the locked time.

[delicate plaza]

Awesome - so if everything in your wallet was in a locked 1 year ILV stake - nobody could steal your $$$ until that 1 year was up? Even with a seed phrase?

[brisk surge]

Yes sir.

[tepid cedar]

Please get a trezor or similar device to protect your assets

[gloomy gazelle]

Cold storage

[brisk surge]

Yes but I have to manage that somehow now and protect the existent trust wallet or to change the connected wallet address

[delicate plaza]

Got one on the way! Will I have to unstake and pay gas to move everything to the trezor and restake again?

[brisk surge]

Yes

[delicate plaza]

Ah damn haha I'll wait till my locked stake is finished then I guess

Any recommendations on trezor vs ledger? Can both of them hold ILV on the cheapest versions?

[brisk surge]

I prefer the Ledger Nano X

[cinder ibex]

Just a quick question for newbies, are there any vids or article on how to send ilv to metamask from binance?

[coral pike]

if you let your rewards sit gas is a "set quantity" meaning you will pay the a same gas if claim 1 token or 100 tokens right???

[brisk surge]

https://www.investopedia.com/trezor-vs-ledger-5193580 It comes down to personal preference, Trezor is open source whereas Ledger is closed source.

[delicate plaza]

Thanks will give this a read

[coral pike]

i personaly got the ledger nano s

[gloomy gazelle]

Basically. But not necessarily. I’ve seen some whales or near whales that have higher fees. But you can check this post that I’m copying from vetemor.

I have created a Calculator that tells you the cost of every single type of Transaction Fee within the Illuvium Eco-system (buying ILV, different types of staking, different types of reward claiming, everything...) https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit?usp=sharing

[delicate plaza]

I've been reading up on the migrating Metamask to a ledger and there's something I'm confused about. Am I transferring the Metamask wallet to the ledger or do I move my coins to the ledgers eth address and connect it to a new meta mask account?

[hot lynx]

Cool thx 👍🏻

[coral pike]

it was trial and error for me but what worked for me was starting a brand new meta mask on fire fox ( had issues with ledger on edge using ledger live) did not turn on ledger live then connected MM to ledger and transfer my balance onto the ledger ETH address (DANGER GAS FEES AHEAD) now MM has a 0 balance and only act as a a bridge of sorts. You do need ledger live at the start to make sure your ledger firmware is up to date and well as the eth program very important

[young wave]

I just received my Ledger Nano X. It will be cool to use it.

[delicate plaza]

Thanks for the info. I'll try withdraw my SLP tokens to transfer across to the ledger as that should only mean one transaction. So as long as I update my firmware and eth program I just send everything in my MM wallet across to the ledger ETH address, then link up my ledger to my old MM wallet and I'm good to?

Only issue is I guess my staking rewards that are locked for a year. They will be forever tied to my old MM address?

[coral pike]

yes tokens already staked cannot be moved until unlocked from what i have been told. You will need to add the ILV /slp contract address manually i think inside the eth program.

[delicate plaza]

Thanks! Have ordered a ledger so now to play the waiting game

[coral pike]

https://tenor.com/view/cat-yes-agree-nod-nodding-gif-17512051

[vernal zinc]

Hi, I want to stake my ILV but the gas fees are so high. Is there another way to do this without paying insane gas fees?

[gloomy gazelle]

You can wait for fees to be lower.

!gas

[woven ibex]

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

[delicate plaza]

Is the ILV we receive from revenue distribution locked? Or straight into our wallets do what we want with?

[next ruin]

Neither, exactly. It won't be locked, but it will have to be withdrawn from the site to your wallet.

Me spotting gas dip into the double digits for a second.

[magic laurel]

its hovering around 110

[strange onyx]

Wattup guys! Still super stoked for this game haha.

Sheesh I done goofed, ILV over 1K now

[clear cape]

its aight, when its at 1.5-2k youll feel better 😉

[delicate plaza]

I thought the same investing at 1k a couple days ago and she's already moved up 25%

[strange onyx]

Lmfao I only snagged like 2 at 400

[clear cape]

ah if u had lots more to put in, then yes, dun goofed

[delicate plaza]

My night tonight will consist of me sitting Infront of the computer waiting for the gwei to go low enough to stake 😅

[austere fjord]

anyone know what a replacement fee too low message means when i try to stake?

[gloomy gazelle]

Do you have any pending transactions?

[austere fjord]

don't think so?

[gloomy gazelle]

Anything on etherscan?

[austere fjord]

Don't believe so. Saw the word chrome in the error. Gonna try another browser

[delicate plaza]

Finally all staked. Cost of approving tokens on sushi and ILV staking, swap for SLP token and then staking it was $260 all up. Take my kidney

[wild zenith]

Hey guys, I accidentally claimed a significant amount of sILV instead of ILV for rewards. Is there anything I can do? Can’t even buy illuvials with it :/

[delicate plaza]

You can convert it to ETH, save it for land buying depending on how much you have, or save it for buying in game resources which will still be needed to play the game

If you use that sILV to buy SLP tokens and put it back into sushi swap (maybe when fees are a little lower) the return is currently greater than having taken the locked 1 year ILV reward I believe. Since the APY return is so big on the SLP pool

[wild zenith]

How can I convert to Eth? I’m planning on buying a bunch of stuff in the game but this is much more than I should need atm 😂

[delicate plaza]

https://youtu.be/r1Za2kNlNDU here's a video of the exchange you can use. I don't think it's official though so proceed at own risk. Haven't heard anything bad about it though

[wild zenith]

You’re the man, thanks I’ll check it out!

[delicate plaza]

No problem, good luck!

[raven depot]

Hey guys. For withdrawal of staked $ILV, I just go to vesting tab, click withdraw then pay Metamask gas fees. then it will appear automatically in my metamask? thanks

[gloomy gazelle]

Once it processes it should. You’ll need to do more than one transaction to complete the withdrawal. First there will be a claim tx as part of the process.

[wild zenith]

Has there been any word on the land sale date or process?

[brisk surge]

No announcements yet possibly in 5 weeks.

[delicate plaza]

Once we've staked out SLP it shouldn't show up in our Metamask wallet right?

[raven depot]

If it's already under Vesting tab, there's no need for claiming right? Since it already transferred to vesting tab?

[gloomy gazelle]

You don’t claim through the rewards tab when withdrawing.

What I mean is you will be forced to do two transactions when you click withdraw. (First a claim then a withdrawal. One button two transactions.)

[raven depot]

based on my experience, yes

[delicate plaza]

Ok just checking. Had a minor heart attack when I didn't see it there haha

[raven depot]

You can check it on Illuvium page under staking or dashboard tab

Is there a step by step guide when staking, claiming and withdrawing ILV, sILV and SLP?

[brisk surge]

!staking

[woven ibex]

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

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

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

[brisk surge]

Have you watched the video at the end?

with sILV you can buy it from uniswap and use it to wait for the upcoming land sale.

[raven depot]

will do @brisk surge thanks

[austere fjord]

Is there a formula out there that shows how much reward you get per token?

[steady trellis]

look pinned calculators

[austere fjord]

Found a good one. Thanks.

[brisk surge]

Did you check out this one? https://cooper1903.shinyapps.io/stakingyield/

[austere fjord]

Wow. That's great. Thanks.

[brisk surge]

No problem!

[bright cave]

This page is great, very useful, thanks !

[primal halo]

guys, if we claim our stakein core ilv staking, will we have to pay 2 transactions to withdraw the initial staked ammount and the yielded ammount ?

[cunning perch]

On V1, yes. Aside form claiming, you will have to withdraw each unlocked batch separately. You can also move them to V2 (when implemented) and later you can withdraw all unlocked batch in one go

[primal halo]

okay

[torpid grail]

hey guys, anyone here use Trust Wallet? I can't connect my Trust Wallet with Illuvium using my mobile... it's been like this for a few days now... any help?

[limber pike]

Is it possible to use L2 on Sushiswap?

[cunning perch]

No. You cannot evade gas on Sushi

[cunning perch]

Answered you in #❓❗〕community-help

[limber pike]

Thanks, dude. That will hurt my wallet quite a bit

[cunning perch]

I totally sympathize. But this is the cost of security (good) and scalability issue (bad) that ETH has. It will be fixed eventually

[delicate plaza]

For reference today it cost me $260 for the whole process of setting up my first stake into SLP pool

What will the process of getting rev dis be? Will there be a separate claim reward button or just gets added to our SLP or IV pool reward stack ?

[cunning perch]

There will be a separate tab for it. And as it's also on V2, there will probably be a “stake directly” button too or withdraw to wallet

[delicate plaza]

Awesome thanks. I wonder when we'll get our first round of Rev dis

[cunning perch]

After the implementation of V2 🙂

[delicate plaza]

Does that mean we'll have to pay the gas of unstaking and restaking before we can get that rev dis? Hopefully the gas goes down then