🥩〕staking

[unreal sand]

As I said earlier, revdis was supposed to be tested in V1 from the deathroad partnership. It was delayed, which is okay, but makes it clear that in the current state revdis is not actually implemented yet.

[primal zodiac]

Its my understanding that it is implemented, theres just not enough in the vault for it to take place yet, as expected

[unreal sand]

It really boils down to providing as much clarity as possible for anyone entering the project. What if someone stakes their tokens, and only finds out after they've staked, that there has been a chance for revenue distribution to occur without it coming to fruition? If they have read that revenue distribution is fully functional, they will feel misled. I understand that it will be distributed in the future, but if it still has yet to be distributed, we should make that as clear as possible.

[echo quartz]

oh okay gonna try that out thx!

[brisk surge]

what is the token decimal for ILV

[primal zodiac]

Literally every crypto project ever has unknowns. I honestly think this is one of the most transparent projects there is, and everything is 100% clear. Can't see anything misleading at all.

[gloomy gazelle]

18

[torn thistle]

I’ve got some ILV on crypto.com, if I move it over to stake it for a year can I add into the stake?

[gloomy gazelle]

He’s specifically referring to updating the revdis bot command. No biggie

[gloomy gazelle]

You can stake it. It will technically not be in the same batch as the one you already staked but that’s fine.

[quartz glen]

hello ,quick question
What is the procedure if I put some ilv on locked staking and I want to stake more?

[torn thistle]

So I’m probably best getting my funds together and staking all at once for the year, is that correct?

[gloomy gazelle]

Correct. Save on gas fees.

[torn thistle]

Perfect, thank you for that 🙏🏻

[quartz glen]

its funny how I got the answer while I was writing a question

[wheat grotto]

Repeat the process 😄

[unreal sand]

I agree with you, Illuvium is miles ahead of a lot of different projects when it comes to being transparent. I don't agree with you on that everything is 100% clear/correct, as the information provided by the bot command was out of date. The bot command was correct up until V1 revdis didn't occur. It's not maliciously incorrect, it's just outdated. If our goal is to have everything be 100% clear and up to date, stuff like this should be reviewed periodically.

[primal zodiac]

I guess I just view it differently to you, I wouldn’t say “it didn’t occur”, that implies it’s never going to. I’d just say it hasn’t occurred yet, which doesn’t make the bot incorrect at all.

[livid light]

When we move to V2 it will change the entire investment side on the game

Their waited for the V2 so all the RevDis was not eaten in gas

[cunning perch]

It's not just RevDis. It will be super gas-efficient even fot YF.

[lapis niche]

hey guys, continuing along with lisadee's question about having ILV on crypto.com, the process of transferring the coin over to a wallet that's compatible for staking costs gas, correct? in other words, there's no way for me to stake coins from crypto.com directly? I'm trying to avoid getting charged gas from transferring to metamask wallet and then getting charged more gas to stake, thoughts? thanks everyone!

[distant lake]

I don't know crypto.com's fees, but I imagine they charge a fee to send out crypto. Then yeah, once you have it outside of the exchange, it costs gas to stake, and you'll need some ETH in your wallet to pay the gas fee. So you'll want a significantly large amount of ILV in order to make the fee worth it.

[cunning perch]

Well you have to have your tokens in your wallet (like MM, TW, etc.) and for that, you have to transfer it there and pay a gas fee. It shouldn't be much, maybe $20-40

[lapis niche]

thanks for clarifying guys, always so helpful. so to be clear, getting coins into my wallet would be paying gas because I'm moving onto the Ethereum network at that point? if that's not a correct summary please let me know, just trying to make sure I can explain to friends as well

[cinder coral]

I havent stake ilv yet but ethereum gas fees right now can cost you $100 easily

[gloomy gazelle]

Don’t do it

[brisk surge]

I would wait until the gas fees are less money normally when it's night time in EST in when it's more calm.

[gloomy gazelle]

Technically you end up paying my your fees to crypto.com based on their fee structure. (They pay the ethereum network fees for you) but once it’s in your defi wallet you will need to pay fees to actually stake it.

[lapis niche]

that makes sense - perfect, thanks...and yeah lately gas has been crazy but the couple of times i've staked successfully I woke up at like 3-4am on a friday --> satuday EST

gas was like 40-50 gwei then

[gloomy gazelle]

Nice

[brisk surge]

will there be a pelican illuvial?! 🙂

[long moss]

Anyone here claiming sILV or just ILV?

[cunning perch]

@gloomy gazelle this is directed to you lol 😄

[brisk surge]

I am claiming ILV only thus far

[cunning perch]

I did sILV. No more. Reached my target. it's ILV from now until the end of time

[agile fiber]

Claim = ILV, Buy on Uniswap = sILV

[brisk surge]

others are doing different though and you can see ratio has increased substantially sILV/ILV ratio has increased

[gloomy gazelle]

I cannot guarantee it.

But there is a shoebill which is related.

[green sparrow]

Do you guys stake SLP or ILV or both?

[long moss]

Reasoning behind this decision?

[cunning perch]

sILV in the market is half-priced to ILV. while by claiming ILV you are giving up on compounding effect and a token you can actually make money out of

[agile fiber]

What Arash said. You can't stake sILV, but you can with ILV. Plus, you can buy sILV on the market right now for half the price. ILV gives you voting rights + RevDis if you stake it. sILV is only good for in game currency and cannot be staked nor does it give voting rights.

[gloomy gazelle]

SLP has higher risk and higher fees but has higher rewards than staking ILV only. So what it often comes down to is having enough funds to make SLP eth/ILV worth it.

[brisk surge]

always been doing SLP

[agile fiber]

Same. Went 100% into SLP and over time my rewards that I've claimed in ILV are not catching up to my original investment

[long moss]

Thanks guys, I'm currently staking SLP and claimed a couple ILV rewards last week (which are now vesting for a year I understand)
What is the actual point of sILV then if you can use ETH for in game purchases?

[agile fiber]

sILV is purely for early stakers, like us. Its an incentive to help make up for us so we can claim rewards on 'locked' investments and still be able to buy land and in game stuff now vs waiting a year

[brisk surge]

also makes ILV deflationary

[cunning perch]

Not deflationary 🙂 It reduces the total supply

[green sparrow]

For sure. I tried staking slp yesterday before really understanding how much the gas fee was and ended up wasting money. I'm thinking maybe i'll wait until v2 before i stake more

[brisk surge]

isn't that the same thing, said a different way?

[agile fiber]

I feel ya. Last 6 weeks I've been claiming every 7 days. Stopping that and now only going to claim once a month until V2 comes out.

[cyan raven]

do I have to claim rewards in order for that ILV to add to the staking total?

[cunning perch]

Deflationary = Tokens get burned
sILV is actually an ILV coded differently So you are still claiming a utilized ILV. Not it gets burned upon use in the game. ILV doesn't get burned. It's a different term mistaken by deflation

[brisk surge]

Deflation is the general decline of the price level of goods and services. Deflation is usually associated with a contraction in the supply of money and credit

[green sparrow]

I didn't find out about Illuvium until a couple days ago and im gettin a bit fomo lol. Am i still early or have i missed the train

[agile fiber]

Super early man. Welcome!

[cunning perch]

yes. and it will get locked for one year AFTER the claim. if you claim sILV, it will be released immediately to be used in game/land sale

[brisk surge]

are they not out of circulation in the future?

[brisk surge]

Its highly semantic but deflationary measures ususally reduce the circulating supply. What sILV does is reduce the max total supply without ever allowing them to go into circulation. So its somewhat different from other deflationary coins.

[cunning perch]

sILV will push ILV out of circulation. But doesn't burn it. As I said above, It is still ILV, but coded differently. The term has different yet close meanings

[brisk surge]

well, I will consider it deflationary effect in the general sense of the term lol

[cyan raven]

hmmm so is there any way I can know how valuable sILV will be in game? would help me make a better decision whether to redeem now vs. wait until the game releases to use in game.

[cunning perch]

ofc they are close. But we are meticulous and go deep in the meaning 😄

[long moss]

Okay cool, what about us not so early investors who only started staking last month? What's the strategy you think? Buy some sILV with a good chance of turn gains before game release?

[cunning perch]

sILV will have the same value as ILV. 🙂

[cyan raven]

so if I claim rewards now to stake a higher amount, I could yield farm more from now until game release potentially. depending on ILV price at game launch and other variables?

[agile fiber]

YMMV, and this is not financial advice, just what I did. I staked starting in September. I put 90% of my cash into SLP and then took the other 10% and bought sILV on the market for about a ~60% discount at the time. Now my plan is to let that sILV appreciate and when land sale comes along, try and buy what I can.

[cunning perch]

you claim ILV, it gets added to your stake with a weight of 2X while generating more rewards. YF is literally growing your stake and you can decide to claim sILV to use in game if you are short on ETH

[echo quartz]

lol I'm kinda confused with the google calc file, how am I supposed to know "ilv received from staking 1 month, 12 months etc"

[gloomy gazelle]

You don’t. You just put how much you have staked and at what weight.

[echo quartz]

but I havent yet, maybe I'm using the wrong calculator lol
I was trying to find out what gas would have to be at for my $2400 investment to be worth putting into ilv/eth

[gloomy gazelle]

Which one are you using. There’s probably a how to video on YouTube.

[wheat venture]

You think it’s a bad time to buy in for more staking atm. I have some extra money I could but I’m afraid with the price being so high

Maybe dca I guess

[gloomy gazelle]

!mc

[woven ibex]

Market cap is the total value of a project, calculated by multiplying token price and circulating supply. It is one of the best metrics for judging the value of a project, because token price alone does not take the existing amount of tokens into consideration. Great projects with a lesser amount of tokens often have a higher token price because of the token scarcity.

Always remember that market cap is a dynamic metric that changes every time the token price or the circulating supply of the token changes.

[gloomy gazelle]

!goals

[woven ibex]

Illuvium is not meant to be just a single game but a gaming ecosystem that this DAO wants to develop to such a level that it can compete with gaming juggernauts like Blizzard, EA or Riot.

In 2020 Activision Blizzard's annual revenue was 8 Billion USD. At the time of writing this, their Market Cap is 64 Billion USD with a small dividend yield of 0.50 percent.

Illuvium offers 100% revenue distribution to ILV token holders according to their stake and with a max supply of 10 Million ILV to ever get minted, the revenue per staked ILV will increase with every additional game released.

[gloomy gazelle]

Make some MC comparisons. Token price should be irrelevant

[gloomy gazelle]

https://youtu.be/64rf_ja61Xg here’s a good video

[echo quartz]

thanks

[wheat grotto]

Good evening 😄 just wondering today.. you know the rewards that are vesting are they counted towards revdis as well? When the game is released and people start receiving revdis do they count towards my total number of tokens or is it just the initial investment receives revdis

[cunning perch]

yes you claim ILV, ILV gets locked, gives you 2x weight and you get RevDis for them 🙂

[wheat grotto]

https://tenor.com/view/damn-shookt-shocked-gif-5580082 that’s not to bad is it 😏

[covert marsh]

I need some big helop

Can i please get into a call with somebody i am ripping my hair out 🙂

[cunning perch]

you can ask your questions and we'll help you not to rip your hair out and go bald. Unless it was literal lol

[rose frost]

These gas fees@are ridiculous

If i unstake my link and ILV and want to stake my ILV is that another gas fee?

[cunning perch]

any TX needs gas 🙂

[rose frost]

Damn it’s like $300 per transaction right now

[cunning perch]

yep. gas is spiking. I suggest you exercise patience for now

[copper dawn]

wait until it's around 60-80 gwei again. It usually drops on the weekend.

[cunning perch]

gotta have to wait for 6 days haha 😄

[rose frost]

Yeah I mean what’s considered a good gas price now? Like below $200? Lol

[cunning perch]

these days 60 is good, 30 is oooooofffffff and sub 20 is "what the hell are you waiting for?" 🙂

[rose frost]

Haha I haven’t seen those prices in forever 🙃

[cunning perch]

I saw it. 3 weeks ago 😄

[rose frost]

Aww man I missed it lol

[hot lynx]

Ahh is the good old Gwei 30's those were the days 🤣 it's fading into the distance

[echo quartz]

lol

75 is like the best I've seen

[oak surge]

yesterday hitted the 60s

[gloomy gazelle]

!fees

[knotty river]

Fast: 169 Standard: 169 Slow: 169
Simple ETH TX: $16.67 (0.0035 Ξ)
Token Approval (ERC20): $40.96 (0.0086 Ξ)
Token Transfer (ERC20): $38.58 (0.0081 Ξ)
Uniswap Trades: $96.7 - $161.0 (0.0203 Ξ - 0.0338 Ξ)

[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.

[grave schooner]

How many transactions take place when trying to withdraw? I have .373 SLP that I have attempted to withdraw. Over two days I have 6 "process rewards" transactions, but still don't have a completed withdrawal. Any help insight would be appreciated.

[echo quartz]

how big can losses actually become if you hold SLV and the prices dont stick together?

[cyan rampart]

There's a calculator you can check that kind of thing out with in the pins.

[echo quartz]

yeah i know but there's so many inputs lol and since I dont have an investment yet all I know is how much I wanna spend. Should've taken math seriously as a kid 😛

[cyan rampart]

Oh the IL calculator isn't one of the big ones... sec.

https://upoint.info/calculator/checknow

[echo quartz]

thanks gonna try that out!

this doesnt seem too bad, or am I missing something?

doesnt take into account how long you hold or anything though, doesn't weight play a difference as well?

[cyan rampart]

Impermanent Loss is just the loss you'd take by providing liquidity versus holding your ILV + ETH over some duration, it doesn't factor in staking rewards etc.

[cyan raven]

can anyone explain why I wouldn't just stake with SLP? seems to be the better APY but i'm assuming there is more risk?

[cyan rampart]

Pros: Much higher APY

Cons: Impermanent Loss, Higher gas fees to stake + claim rewards

What you decide on is up to you, but I'll be staking the SLP in about 9 days when my ILV only stake unlocks.

[echo quartz]

I see, thx

[echo quartz]

what makes gas higher when claiming rewards with SLP

[cyan rampart]

Your rewards claimed as ILV are all automatically staked in the ILV Core Pool. When you claim rewards, you have to claim rewards from BOTH pools at the same time, the SLP AND the Core ILV Pool.

So you end up with 2 transactions instead of 1.

Additionally, initially staking the SLP costs more, as you need both ETH and ILV (this could be +1 txn if you're only holding 1 of the 2 tokens), you need to provide liquidity (+1 txn) and then you stake the SLP tokens you recieve for providing liquidity.

[echo quartz]

ooh I see, this doesn't apply if you claim in sILV though right?
whats txn?

[cyan rampart]

If you claim every reward from the start of your SLP stake as sILV, you won't have vesting rewards in the ILV Core Pool, and so your claims will be 1 transaction(txn) only.

[echo quartz]

I see, your explanations have been truly great and I appreciate that 😄
as I basically deposit by buying eth (I get no fees) and I'm already holding 1 ILV I guess the gas fees won't be too bad after all, so long as I can time buying the SLP token at a low gas fee and then also starting the staking with a decent gas fee as well?

[cyan rampart]

Yeah, if you wait to provide liquidity until gas is cheap, and wait to stake until gas is cheap, that sounds like your course of action from here 😛

[echo quartz]

so $2600 ish isnt too small of an amount to get going :)?

[cyan rampart]

It's really close to the threshold where you don't want to stake the SLP because of gas fees. If you intend to claim as sILV only, I'd say you're still fine, just be patient with gas prices 🙂

[echo quartz]

I'd want some ILV but i guess it'd be dumb to claim that with the double gas fees, unless I just let it be for a long time and then claim it all at once?

[cyan rampart]

Yeah, there's no time limit as to when you can claim, so you can just let it accumulate. As per Lelahel's calculator, 8-10 ILV seems to be optimal to claim, so you might be waiting a while xD

[echo quartz]

oh lol xD

[cyan rampart]

You can at least do your sILV claims early, and do your ILV claims later so you're not paying double gas on your sILV claims.

[echo quartz]

that would probably be the best move, along with waiting with my claims I suppose

I'm guessing I'll still be needing about $300 extra eth to cover the gas fees of getting into the staking process (aiming at 75-80 gwei)

[cyan raven]

I swapped out of ILV core into SLP pool, thanks for the help everyone.

[cyan rampart]

Sounds about right - there is also a calculator in the pinned messages that can be used for gas costs.

[golden nymph]

ehhh my name spencer too wuddup.

i wanteed to switch my 3 ilv from core flex into SLP fixed... what did gas cost u?

[warm pivot]

When they talk about rev-dis, will it be payed out to stakers as ilv or silv?

[cyan rampart]

As ILV, currently. It's possible the option to claim revdis as sILV is added in the future though.

[warm pivot]

Thats awesome! Cheers man

[wheat grotto]

ILV 🤘🏼

[brisk surge]

The bull like

[gloomy gazelle]

Create a copy of this document and check the process costs. https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit?usp=sharing

[cyan raven]

Gas was bad, but I have been in since pre-ILV airdrop so I didn't mind taking the hit. I would say at a minimum $300

[coral furnace]

After the ilv is deposited into the core pool it will only become available after 1 year right?

[final steppe]

Hey Tanned! If you're referring to ILV rewards you have claimed, then yup! They are vested in the ILV core pool and locked for 12 months.
After that time has passed, they can be withdrawn 🙂

[coral furnace]

Yes that’s what I’m referring to, thanks

[echo quartz]

what does a 78% weight mean?

1.78?

[glass inlet]

I need help

[echo quartz]

lol idk if I should wait for better gas to stake or if I'd save more by just staking earlier

[glass inlet]

Ok some hackers on yr help line just stole my ILV that’s locked up for a year I need help fast

[echo quartz]

how?

[mint cave]

i replied to you in #🚨❗〕report-scammers

we do not have a help line

please post the screenshots of your interaction so i can ban the user

[glass inlet]

I asked for help since my MetaMask was hacked they asked for my original eth address

[cyan rampart]

!scam No one will from Illuvium will DM you first or ask for your seed phrase.

[woven ibex]

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

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

[glass inlet]

His name is Philip

[wooden wing]

I staked my illuvium to core pool back when it was trading around 400$. Will it be subject to impermanent loss now that it has appreciated in value?

[cyan rampart]

Impermanent Loss only applies to the SLP pool.

[wooden wing]

Good then. I expect to get the same quantity of ILV back?

Then i just claim sILV

[cyan rampart]

Yes, you'll get your original ILV back when your stake unlocks, and your rewards when they finished vesting (assuming you claimed as ILV).

[wooden wing]

Thanks

[echo quartz]

how would a decrease in token price affect SLP staking? If both coins go down together

[cyan rampart]

If both coins decreased by exactly the same percentage, your SLP token would be worth less overall, but you'd have no IL.

You'd just have regular loss.

[echo quartz]

okay, and the rewards would be worth less as well I guess

[cyan rampart]

Yeah, I mean if ILV goes down, the ILV you recieve as rewards would be valued at less, as you get ILV as rewards.

[echo quartz]

makes sense, also when you claim either sILV or ILV, do you choose like either 1 token of the one you want? or is it like option a) 1 ILV b) 2 sILV

[cyan rampart]

You choose which one you want.

[echo quartz]

yeah but do you lose any value by not choosing ILV? is it $1 of ILV or $1 of sILV

[echo quartz]

so you get equal amount (in dollars worth)

[cyan rampart]

1 ILV is the same as 1 sILV when you claim rewards.

You have "Rewards" you've accumulated, you claim them as either sILV or ILV.

[echo quartz]

so basically you lose about $600 per coin by not choosing ILV right now? Since sILV is half of ILV

[cyan rampart]

Well, if you sold your sILV, yeah. sILV is pegged to ILV price for in-game spending, so you technically don't "lose" anything.

ILV rewards take 12 months to vest, sILV rewards don't. 12 months is a long time in crypto, so you could potentially turn your $550 per sILV NOW into more than ILV could be worth by the time your token unlocks.

[echo quartz]

aahh okay thank you, but while the ILV is marinating for 12 months it's giving you the % rewards right?

[cyan rampart]

Yeah, vesting rewards are staked in the ILV Core Pool at 2x weight.

[echo quartz]

now that I have a view of the full picture, I would love to know what your view on it all is. Do you personally throw everything into 1 or the other?

[cyan rampart]

When I got started, I didn't understand the SLP, so I staked the ILV Core Pool. In about 9 days, my ILV Core Pool stake unlocks, and I'll be staking the SLP.

This is not financial advice, it's always, ALWAYS best to decide for yourself.

[echo quartz]

I see, for how long did you lock it up? And would your decision be different if you had less tokens available? Like if you only had $2-3 worth would you continue with ILV core

[cyan rampart]

My initial stake was about $2200. I'd avoid the SLP with anything under about $3k-$4k just because fees to claim rewards can be higher.

I'll be staking for the full year in the SLP.

[echo quartz]

even if you consciously tried to time gas fees & only claim sILV? (to reduce gas fees as much as possible)

[manic brook]

Last night I claimed sILV, swapping for ILV and ETH, pairing, and staking back into the SLP pool. I wouldn't recommend it unless you have about $20K in sILV - the multiple gas fees were CRAZY!

[cyan rampart]

You could use a calculator to figure out gas fees for yourself 😛 Check the pinned messages. Ultimately, like I said, it's up to you. The APY in the SLP could easily make it worth staking with a smaller stake if you're claiming nothing but sILV.

[echo quartz]

I'd love to stake SLP as well but I dont wanna lock 80% of my investment portfolio into one project 😛
That's why my max I would be able to stake is about $2.6k

[echo quartz]

yeah I know, I've messed around a bit with the calculators but in the end when you think you know it all there's always something you're missing which is why I'm fishing for 2nd opinions. Appreciate your inputs 🙂

[echo quartz]

why not just sit on the sILV?

[hushed valley]

What's YR?

[narrow oyster]

if i stake SLP only do I still have to go through 2x transactions to claim rewards?

[manic brook]

The difference in between the APY of staking. ILV yields c40% APY compared to SLPs 400%. Hypothetically claiming instantly available sILV, selling even at its significant discount to ILV, and restaking has a higher return over 12 months. Reality is gas fees take all the benefit unless you have very large amounts to claim, and very reasonable gas.

[knotty heron]

Man we need v2, gas is fucked

[celest crag]

How much ILV do I need to make it worth staking?

[final steppe]

Yes, because you may "only" stake SLP at first... but then any ILV rewards you claim will be vested in the ILV core pool so then you'll start having rewards to claim in both pools, which will require the two transactions 🙂

[echo quartz]

The difference in between the APY of staking. ILV yields c40% APY compared to SLPs 400%. Hypothetically claiming instantly available sILV, selling even at its significant discount to ILV, and restaking has a higher return over 12 months. Reality is gas fees take all the benefit unless you have very large amounts to claim, and very reasonable gas.
@manic brook I was just thinking of holding the sILV, I think it may go up when game drops

You only fall victim to gas if you act right

[final steppe]

Ahh, that's going to be up to you to decide. I think my general ball park number would be around $3k ILV to start out with (NFA)... but it all depends on how often you decide to claim. You just want to be sure that the claims you are making are worth the gas... otherwise you might end up paying more in gas fees than the rewards you are receiving.

[echo quartz]

yeah exactly, I’d probably be claiming every few months

[nova mortar]

I staked my ILV last night. I decided to set the gwei to 80 and go to bed. It took 4 hours to go through but I paid like $90 in gas fees instead of like $150 if I wanted it to go through instantly. I recommend this for anyone staking as we are in no rush and it’ll typically process over night at some point.

[gentle axle]

Hey I've got a question. When staking SLP, is it the fraction of ILV within it that is minting rewards or does the ETH inside it contribute as well to produce ILV?

[upbeat cliff]

What site to buy land or are we still waiting???

[mint cave]

YR?

[tribal dune]

Is it true that the sliv price will be 1:1 with ilv at the time of the lands sale?

[brisk surge]

The APY number is based on the dollar value of your SLP stake. So ETH+ILV.

[delicate cloak]

It's an assumption, or at least close to as it will have 1:1 buying power with the value of ILV.

[celest crag]

Got it, so we don't lose any rewards if we miss a few claims, right? Only the fact that they won't compound till they are claimed?

[final steppe]

That's correct! There's no claim schedule set up by the protocol. Your rewards will continue to accumulate with every ETH block and just remain pending for you until you decide the gas fees look good to you and you decide to claim 🙂

[gloomy gazelle]

Yeah It’s a super lossy sequence.

[celest crag]

Awesome thanks!! And do you know if there are any plans to allow staking in any layer 2 solutions in the future to minimize gas fees?

[final steppe]

IMX (ETH Layer 2) doesn't support staking yet, but if/when they implement it, I'm assuming the team is going to consider it!

[steady trellis]

Interesting info for this channel 🙂

[prime pewter]

I have 2 ILV shares - is it even worth staking in the ILV core pool given how high gas is right now? I wouldn't do the Sushi pool due to the risk of impermanent loss

[abstract shore]

If you do research you will find out that you should not fear impermanent loss

[abstract shore]

If one coin do 100% in value in relation to other you loose only 5%

I staked (max locked) 2300$ in spl one month ago and now i have 1700$ in rewards, I could not care less about impermanent loss

[sand wing]

impermanent only becomes permanent if you withdraw when upside down.

[scarlet pumice]

Gains is gains 💪

[scarlet pumice]

Has the same buying power, but unclear if it will match the dollar value

[gloomy gazelle]

Whatever ILV price is that will be the buying power sILV will have in the sales or in game. It’s like a gift card. But sILV will probably either always trade at a discount to sILV or no longer have an viable liquidity pool.

[prisma schooner]

did a 50/50 SLP when ILV was $440 put $5k USD.
That same SLP is currently worth $9387

The SLP has pumped out about 11 ILV for me so far

So only $2500 ILV $ 2500 Eth
This all started Aug 21st.
So 79 days and 11 ILV earned
Average .14 ILV a day
4.1 ILV a month
$177.8 Per day
$5207 a month

This is the most insane investment ever.

This is all locked in for 1 year for the 2x weight of of course

[little bane]

What is difference between apt and weight ? Lets say i put 2 ILV on SLP POOLS

[prisma schooner]

The weighting acts as if you have 2x as much to earn from.
Or you are earning as if you had put 2x the amount of tokens that you did.

[brisk surge]

There are 2 core pools (contracts) which you can stake tokens in order to receive additional $ILV tokens, as well as a third type (flash pools). Below is a detailed look at each pool:

$ILV Pool — This pool only holds $ILV. It has a pool weight of 0.2

$ILV / ETH Pool — This pool only holds Sushi LP tokens. It has a pool weight of 0.8

Flash Pools — These only hold the partner token. There is no set pool weight for these (because there can be many different pools), but they are substantially lower than other pools. Their purpose is to provide those outside of the $ILV project with some exposure to it. Each pool will have an announced pool weight before it goes live.

[little bane]

0.8 means 80% of revdis to this pool?

[prisma schooner]

I guess I don't understand the pool weights. Either

[little bane]

If i stake 1000 each of ilv/eth locked for 52weeks..then how much will i be getting after a year? Also is that the requirement to get revdis and yield?

[gloomy gazelle]

For every 1 ILV that gets distributed as rewards to the ILV only pool 4 tokens get distributed to the SLP pool. That’s what weight is getting at.

[gloomy gazelle]

APY is variable based on how much value is in the pool.

You do need to stake to get revdis

You don’t need to lock it for 52 weeks. You can choose how long you want to lock for. The longer you lock the higher your token weight. Upto 2x weight at 52 week lock. After your lockup is over your initial deposit REMAINS staked and earning at the same weight until you withdraw it.

Here’s the APY I saw about a week ago. That APY is close to what you would get if you you locked for 52 weeks and no one else added or removed any tokens from the staking pool (which won’t happen, more tokens will get added)

[little bane]

So weight play along for revdis?

[gloomy gazelle]

Not pool weight. But token weight from longer lock up does get counted.

[little bane]

Yes what i mean is token weight..as pool weight slp will get 4x ilv only pool. Thanks so much…is it too late to start now?

[gloomy gazelle]

Nope not too late.

But watch out for the current gas fees

[brisk surge]

can i sell my sILV?

[manic spindle]

On the open market, yes 🙂

[cunning perch]

For now there is a Uniswap sILV pool that you can sell yours half-price. Be advised the pool is not authentic and not tied to ILV team/project

[manic spindle]

You can see here where it trades: https://etherscan.io/token/0x398aea1c9ceb7de800284bb399a15e0efe5a9ec2#tokenTrade

[cobalt relic]

Hey guys is there a good video/article you can recommended about the diff between claiming ilv v silv?

[alpine chasm]

i think always claim ilv, since you can buy silv in 50% discount from open market

[cunning perch]

You don't need a vid for that. When you claim ILV, it will get locked for one year and it will compound and add to your stake with a weight of 2X, while claiming sILV will send it directly to your wallet to be used in game/land sale

[alpine chasm]

If you really want to spend silv in game, they could convert ilv to silv in game

[cobalt relic]

Awesome cheers guys!

[cunning perch]

To get sILV officially you have to claim it. No converting happens 🙂

[brisk surge]

When revDis happens, can I immediatly sell the ILV rewarded or I have to claim it and wait the 1Y lockup as it is for the staking rewards?

[cunning perch]

RevDis will be free to claim as it is already vested tokens bought from the market and requires no locking up.

[brisk surge]

when revDis will start to occur? land and when the game is live?

[cunning perch]

RevDis has already gone live with DeathRoad sale (however tiny) and will be compounded with Land Sale’s and be paid with the implementation of V2, which is before/by land sale

[brisk surge]

one last thing, which is the difference betweed flexible and fixed staking when it comes to revDis, more weight more rewards or just based on the quantity you stake?

[alpine chasm]

Oh.... So there is nothing to convert ilv to silv?

[cunning perch]

Yes Flexible pool has the lowest of the token weights and as of now gets the smallest share, but V2 might change that.

[alpine chasm]

Thanks for information. i always think I can convert the ilv into silv in the game

[cunning perch]

Officially you cannot. You either claim this or that. Unofficially, you can sell ILV to ETH, use the ETH to buy sILV from Uniswap

[brisk surge]

you mean the weight might be the same for flex and fixed?

[alpine chasm]

The fee....damn

[cunning perch]

No worries. sILV gets burned upon use, so there is no way you can get it from the game

[cunning perch]

Flex has 1X weight (the smallest). I'm sure there will be a bullet point in revised V2 to mention Flexible pool and the RevDis it gets. Gotta wait a bit to read it after its release

[cunning perch]

Well. That's the only way to convert ILV to sILV

[brisk surge]

I have to claim the rawards in order to compound them?

[brisk surge]

Yes sir

You accrue rewards as time goes by.

It is expensive to claim to compound

[brisk surge]

Depends on the gas price and the amount and how many times you have claimed rewards.

why few people stake in the SLP pool?

are there hidden risks?

[brisk surge]

SLP has an associated risk but I mean there really isn't that big of a difference check out https://dune.xyz/xastor/Illuvium-Dash to see the difference.

most important, which cross do I have to deposit on sushi? ILV/ETH or ETH/ILV

!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

[brisk surge]

^

many thanks

[brisk surge]

You're welcome!

[brisk surge]

Hey, so i want to stake in the ILV pool, it asks me to approve my wallet. I click approve, then it shows "Approve ILV spend" and then nothing happens. What should i do now? I also do not get any notification in my Metamask wallet. https://gyazo.com/b4a2c579ea220b535f0205aa5230d2dd

[cunning perch]

have your followed this?

[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]

so i dont get to the step of decidign whether to lock or not, i have to approve my wallet first, and nothing happens when i press approve

[cunning perch]

please try updating your browser/wallet/cold wallet (if you use) and clear cache on both browser and wallet. It should go through

[brisk surge]

yes i use a trezor hard wallet connected to metamask, i did a firmware update on the device today aswell

[crisp spire]

Can we stake straight from ledger

[cunning perch]

do the same with the browser and make sure "data contract" or any name under that is turned ON

[cunning perch]

Not straight. You will have to connect it to MM first and then stake through MM-Ledger Bridged wallet

[crisp spire]

Ok. I have MM already, but considering buying a ledger.

[cunning perch]

sure. Many of us use it

[brisk surge]

so i updated my browser , i still have the same problem

i click approve, and then its says "approve ilv spend" and my metamask is not doing anything

for what I see it should be worth the flexible SLP pool. 210% APY is enough to compensate impermanent loss, and you also obtain rewards

[brisk surge]

maybe metamask appears on the instrument bar (bottom of the screen) as icon and you should click on it

[cunning perch]

then probably you should change the browser, maybe use a Chrome or FireFox. The problem is probably from your side cuz we haven't received any issues from anyone. But still let me know if it is still the same after the change.

[brisk surge]

hmm so i used chrome before and now i tryed firefox, its still the same, i mean i am aware its probably a problem on my end, i just dont know what it could be 😦

[sacred cosmos]

Is the transaction pending?

[brisk surge]

no there is no pending transaction, just nothing happens at all

[sacred cosmos]

Hmmm... I recall something similar happened to me. I had to disconnect my metamask plug in then reinput my account for it to disappear. Another possible solution is to check the nonce of the transaction and push it/replace it with another transaction with higher speed. Just helped someone do this for a stucked pending transaction

[brisk surge]

i jsut did that, reinstalled the metamask pluging, recovered my wallet with the seed phrase, stil lsame problem

[cunning perch]

That's weird. Let's ask @hexed bough. Hey Carlos. Sorry for tagging you. Could you please help him? I did whatever that came to my mind. I'm sure you know and can figure out what the issue is. Thanks a million 🙂

[hexed bough]

Thanks mate @cunning perch. @brisk surge can you message me, so we can see what's up? thanks

[brisk surge]

jsut did, it wont let me dm you it says we dont share a server

[cunning perch]

send him a friend request 🙂

[brisk surge]

just did^^

[green sparrow]

What exactly does ledger do?

[cunning perch]

Keeps your keys offline so no one can access your wallet and flush out your funds.

[green sparrow]

Oh so i should probably buy one😨

[cunning perch]

Well, if you need more safety 🙂

[green sparrow]

Well i mean.. does MM's get hacked often?

[cunning perch]

Hasn't been hacked to my knowledge, but if someone has access to your laptop and knows yor pass, they can easily steal your funds and transfer them out. With a Cold wallet, they need to physically confirm the transaction. So even if they see your tokens in your MM, they cannot send it out cause your keys are offline 🙂

[green sparrow]

As far as i know noone has access to my laptop and password, so i guess i should be safe right?

[cyan rampart]

The most common way I've seen people compromise their MM is by sharing their seed phrase, connecting their MM to scam websites, or screen sharing with scammers.

Getting a hardware wallet is still a really good idea if you're dealing with a substantial amount of funds, just in case you make a mistake online.

[cunning perch]

@cyan rampart mentioned a very good point

[green sparrow]

Cool guys, thanks

Is there a place where i can read about v2 staking to get a better understanding, or will we just have to wait and see?

[cunning perch]

Wait for the revised version. It should be out soon

[brisk surge]

ok, so i want to stake 1,5 ILV with a 52 week locked period, the contract says its 231$ in gas fees for this transaction, is that normal or should i wait? and is it advised to stake an amount of only 1,5 ILV or is that too little for it to make sense

[fast island]

Wait

Gas prices go down on the weekend during off hours early in the am on a Saturday to Sunday might be best. Idk 1.5 ilv is 1900 you’d be taking a 10% hit in gas alone.

Do you plan on staking more in the future? Might be worth while to do one big deposit instead of a bunch of small ones.

[brisk surge]

nah 2k$ is the max i plan to do

so would you say im better off just holding my ILV in my wallet for now till ETH 2.0 releases and enables lower gas fees?

when you are saying gas prices go down in the am hours from Saturday to sunday, how low would u say they go? also what timezone we are speaking?

[primal zodiac]

If you look at the GasTracker bot on the right. Anything around 70-80 is good nowadays

[brisk surge]

ok thats half of what its right now, so best case i would be looking at a 100$ gas fee for this staking contract?

[brisk surge]

That's gonna be tough but you can try and wait for the gas prices to calm down.

ok thx for the advise

[echo quartz]

how risky is it to set max gwei to like 80 and then go through with a transaction?

it has to go through eventually right?

[little bane]

I heard this month there will be new eth network 2 which can minimize gas fee? Worth to wait before staking?

[echo quartz]

good question!

[little bane]

If 6 months back its good since increasing value of ILV almost 3-4x (gas fee is covered). Dont know about that today as i think in the next 12 months, ILV wont increase rapidly

[sacred cosmos]

You need to weigh it. Waiting for V2 might mean not staking for minimum of 2 weeks. That's 2 weeks not earning yield. Is the savings from gas more or less than what you can get from those two weeks of yield.

[little bane]

Good point ,That might affect me getting 4% reduced yield

[cyan rampart]

Eth's current estimates on shard chains is for 2022. The Beacon Chain is already live, but not merged into Mainnet as of yet. The merge is supposed to be Q1/Q2 of 2022.

If you're talking about staking v2, it will be sooner than ETH does anything that should improve gas.

[little bane]

As for staking, maximum weight is only 2.0 ? Any calculations i can estimate if i put certain of money into the SLP pool?

[cyan rampart]

Staking v2 is still on ETH though, it's not a layer 2, and you'll still pay gas.

[cyan rampart]

There are staking calculators pinned in this channel, you can use those to estimate your returns.

[little bane]

Okay thanks so much..where can i find out more info regarding staking v2?

[cyan rampart]

The original IIP is pinned in this channel as well - We're waiting for a revised v2 IIP, but it should give you a good general idea.

[little bane]

Last question, silv can be used to purchase land on illuvium zero , so does it have anything to do with the main game?

[sacred cosmos]

They're independent in a sense you can play one without having to play the other to enjoy the experience. The mini game supplements it though through fuel and blueprints

[little bane]

So basically land and tier (1-5) is different?

[cyan rampart]

You can spend sILV on any transaction in the Illuvium ecosystem, as long as that transaction doesn't involve another player.

[sacred cosmos]

They're part of Illuvium the planet just in a different area from the main games maps. The tier levels signify the richness of the resources and fuel as well as special landmarks. But they're all plotted in the world map

[brisk surge]

But sILV is not guaranteed to have any real monetary value outside of the game correct?

[cyan rampart]

No crypto token is truly guaranteed to have any value anywhere.

[little bane]

From what i heard its half the value of ILV

[sacred cosmos]

Magic internet money!

[little bane]

So buying land on illu ZERO and entering tier on the main game are two different things?

[sacred cosmos]

Yes. The connection is really both are in the same planet and share the same biomes. Let's move the conversation either to #🎮〕illuvium-zero for land questions or in #💬〕general so as not to flood this chat with non-staking topics hehehe

[little bane]

Okay..Thank you so much for answering

[sacred cosmos]

No worries. Feel free to ask more questions in the appropriate channels. Everyone here is helpful

[cunning perch]

@brisk surge Did the issue of connecting wallet to the website get fixed? What was the problem? Just asking to know in case someone else had the same problem.

[brisk surge]

yes it got fixed

i had to pin my Metamask extension to the extensionbar in my browser and then connect via Browser Wallet and not via trezor wallet in the "select wallet" window on the illuvium staking page

unfortunately gas prices are a little to high for my taste for the staking protocol ( also considering that i have to pay gas when i want to withdraw again, aswell for the staking rewards) so i stay on the sidelines for now with staking my ILV and jsut hold it in my wallet for now

[glad path]

I haven't withdrawn my ILVs after staking. It's still considered as staked and therefore eligible for the revdis right?

[cunning perch]

Well. At least it got fixed. Glad it worked out for you.

[cunning perch]

Yes unlocked tokens (if moved to V2) will still receive RevDis. Cuz they are staked

[glad path]

Thanks arash. Still waiting for god gas day and V2.

[sacred cosmos]

Not only is it considered staked for revdis, youre still earning yield based on the original token weight too

[fluid glade]

just wanted to ask you guys, is it worth it to stake if you have around 5 ILV only? Or is it just for bigger bags

[wind walrus]

I would stake that. Once staked you are eligible for RevDis. Wait for reasonable Gas prices

Of course that depends on your goals and liquidity needs.

[clear cape]

Worth staking, yeah

[echo quartz]

yo so SLP stakers dont get revdis?

[wind walrus]

Yes, you get RevDis on the ILV in the pool

[echo quartz]

whats v2

[fluid glade]

well I don´t need that money, everything I put in crypto is considered as not existing for me, and hopefully making it as financially free man. It is not my only investment, will be adding more for sure. I´m also planning on playing this game a lot

[echo quartz]

but only half of what you'd get if you staked ILV?

[wind walrus]

Ok, are you looking at ILV or SLP?

[wind walrus]

Yes, but you are earning a higher APY

[fluid glade]

more into ILV, not sure what is SLP to be honest. And do i need to be staking for very long periods for it to be worth it?

[echo quartz]

so you can theoretically earn more through ILV staking

[wind walrus]

The longer the better, not only do you get a Higher APY but you also gain a higher token weight

[wind walrus]

Remains to be seen. People have done rough calcs on Revdis but we don't have any hard data yet

[severe comet]

planning to stake SLP, buying eth with fiat at binance soon. How much extra eth should I have to buy for gas? (in total for all the transactions and staking gasses not includ the rewards collecting gas)

[wind walrus]

With gas fees this high I would say $500

[cyan rampart]

It's definitely worth checking the calculator pinned here to get an estimate. It also depends whether you will wait for gas prices to be cheaper or not.

[fluid glade]

ok thx, i will watch some videos that are pinned here on the staking to understand it more, i will most likely stake it when the gas is lower

[cyan rampart]

#🥩〕staking message

[severe comet]

Oh boy, even if I'm timing it right? Aiming for 80~ gwei

[wind walrus]

Awesome, learn all you can. Be careful, the more you learn the more ILV you will want. 🙂

[cyan rampart]

Start to finish, staking the SLP at 80 gwei with ETH at 4800 would be $327 (incl buying ILV). Just try the calculator out xD

[echo quartz]

Fam! What would happen if I were to put max 80 gwei on my transaction while gas is at like 150 as of now?
Would it go through eventually?

[cyan rampart]

This is how I claim rewards and stake. It goes through eventually. Don't try and do this for swaps (buying ILV) though, as the price can change and your txn will fail if the price leaves your slippage range.

[severe comet]

Yea I just saw the link to the calculator thx, with 300$ gas maybe it's an batter idea for me to wait for V2😅 does an1 know when it's coming out?

[pulsar mist]

Calculator is great. I tried to simplify by using furucumbo. Quoted $700-$1400 this morning

[echo quartz]

yeah thanks mate, what gwei do you usually put? 80?
And would it be doable when paying the actual "staking" gas fee?

[cyan rampart]

We don't have a date yet, no. It could be a good idea to wait for v2 anyway, if you're waiting for cheaper gas anyways.

[cyan rampart]

My last txn was maybe 2 or 3 weeks ago, and I got one through at 48 gwei.

It was pending for like 2 days 8h while I was waiting though.

[hushed valley]

Not looking for financial advice but basic math. In the long run, will I make more from staking 100% ILV through revdis or staking 100% SLP for the combo of higher APY but half revdis? Would be locking for full weight in either case.

[echo quartz]

did you actually put 48 as your max gwei lol?

[echo quartz]

dont think it's that simple

[sacred cosmos]

Mine was around upper 30s 2 weeks ago I think

[severe comet]

Got only 2k to stake, the gas would eat 15%. Remember someone here told me I should aim for maximum 10% gas..there is a chance of V2 coming b4 the open beta😬?

[cyan rampart]

This depends on how much revdis is, which depends on revenue, which we don't know. It also depends on how the APY holds up, which depends on TVL in the staking pools. There are too many unknowns for anyone to say for sure.

[cyan rampart]

I don't have any more info than the public does about v2. We know it's being developed, we know we're waiting on the revised IIP for it.

[severe comet]

Wellp yea I guess we all are waiting for it... thanks🙏

[echo quartz]

is it possible to set max gwei when staking initially?

[wind walrus]

Keep an eye on Gwei on the weekends late at night. Seems to dip down then

[severe comet]

I need 40~ Gwei😢 does it getting that low?

[wind walrus]

It can, it's been a couple weeks but it does happen

[severe comet]

Wait really, that's actually really good, maybe I will be able to stake after all😃

[wind walrus]

Use the "Time of Day Chart to help you plan.
https://ethereumprice.org/gas/

[severe comet]

Thanks a lot!

[red echo]

Hi guys!! Recently my metamask wallet was hacked and im afraid about the staking. When the day comes can i withdraw the staking to another metamask wallet? Maybe the funds will be stolen if i deposit yo this MM wallet.

[brisk surge]

I havent been keeping track of how staking v2 has been coming along but I think they were talking about letting you switched unlocked staking between wallets

[fluid glade]

jus wanna ask, where can I read about RevDivs? couldn´t find it in pinned messages or faq

[cunning perch]

Hey. V2 will have an option regarding swapping wallet. Now whether it's possible to directly switch wallets on the website or there will be a withdrawal required first will be pointed out shortly by the revised proposal

[cunning perch]

!revdis

[woven ibex]

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

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

[fluid glade]

great thx, so if i understand it correctly, RevDivs will start to be paid for staking after release of the game, because there are no revenues right now?

[unreal sand]

Just FYI, revdis has had the opportunity to be tested in V1 due to a partnership with deathroad, however it was then not distributed. It's planned to be distributed in V2.

[cunning perch]

No the first one will be paid by land sale (after it)

[fluid glade]

ok that makes sense, thx a lot for clarification

[red echo]

What is v2? Im pretty noob here

[cunning perch]

Staking V2 is gas-utilized version of staking which will be released soon. 🙂

[worthy peak]

gas-optimized?

[cunning perch]

yes 🙂 optimized, utilized, minimized 🙂 all to the benefit of our valuable community

[echo quartz]

what will happen to the people that are locked up in staking already?

[cunning perch]

It will be explained in the revised version of the proposal 🙂

[echo quartz]

will they be fucked or will it be made so they don't get hurt financially

[cunning perch]

You willl like it don't worry. Nothing in ILV takes the community out of the perspective. So all the comments have been read and a good strategy will be implemented so all locked/unlocked and new/old investors would benefit from

[echo quartz]

cool, I find it difficult to imagine how locked up people will break free though

[cunning perch]

That will be taken into account. 🙂

[delicate cloak]

They will account for people who are locked up. They're not just going to screw everyone who is locked. There will be a way to migrate post unlock.

[blissful latch]

Hi guys! On the staking pool page I see two options: ILV and Sushi LP. What is the second one? How does it work?

[echo quartz]

cool

[next ruin]

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

[north geode]

Which day of the week and time is good for withdrawing my stake rewards. I dont want to pay 300$ fee xD Also should I claim as ILV or sILV ?

[cunning perch]

There are some ways you can choose as to when to claim:

1. use the calculators pinned here in the channel
2. claim when gas = 1% of the value of your pending rewards
3. when comfortable

[north geode]

I see and I believe we can only use ETH network right?

[cunning perch]

you claim or withdraw you have already used ETH mainnet as ILV is on it. So you def need to pay gas in form of ETH

[north geode]

dang it xD thx for the help

[blissful latch]

ALERT: @cunning perch is trying to scam people. He sent me a websites that asks me the 12 secret phrases. He said it will migrate my wallet to a better system ahaha
Please ban this guy!

[craggy field]

lol

[cunning perch]

can you share his ID?

[cunning perch]

7th one? lol

[blissful latch]

Arash#0263

[craggy field]

aha! man so many imposters

[cunning perch]

<@&821154860816793604> ban the fake me plz 😄

[blissful latch]

ahahah 😄

If they still do this kind of scam it means that people fall for it. Remember NEVER share your secret phrases with anybody, no matter who they are XD

[cunning perch]

can you send a screen shot to me?

[blissful latch]

sure

[cunning perch]

he changed his name and deleted the messages. it's tssvb#0263

[verbal egret]

Hi I do some ILV staking with trust wallet, it stopped work to recognise its a mobile wallet and not a desktop version. anybody has the same problem

I can't connect anymore

[next ruin]

https://tenor.com/view/the-matrix-matrix-agent-dodging-bullets-bullets-gif-4019229

[cunning perch]

what a slippery dude. lol

[keen smelt]

Hello. How to stake ILV?

[cunning perch]

!staking

[woven ibex]

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

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

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

[cunning perch]

!lp

[woven ibex]

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

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

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

[cunning perch]

!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

[keen smelt]

Thank you sir

[somber condor]

@cunning perch I'm starting my research now ty! i'm still weary of LP might just stake ILV since I believe in it long term. whats your thoughts on it

[clear cape]

fuck mate, u got too many fans

[cunning perch]

Ikr. It's getting crazy. My fans will be the end of me, scamming ppl.

[cunning perch]

Sry at work. Will share my opinion after 🙂

[mellow hull]

When the eff is gas going to come down? I've got rewards piled up that I'm waiting to claim.

[clear cape]

weekend

[sacred cosmos]

Sundays usually is the lowest GWEI

[mellow hull]

Been watching on the weekend but haven't seen it lower than 55. Have I missed lower?

[clear cape]

Yeah i saw it like 60-70 lowest, 55 is great.

[mellow hull]

That's rough. Was hoping for 40s!

[echo quartz]

anyone know if its possible to put a low gwei when staking and just wait?

or is there a risk it wont go through or smth

[brisk surge]

I would only reccomend doing this if you really know what your doing, otherwise it also works to just check it quite often on a weekend

[echo quartz]

I see, it'd be cool not having to monitor gas price 24/7 😛

[prime pewter]

The support team at Crypto.com(where I have my ILV tokens) is useless - noob question: am I paying gas fees to transfer my tokens to MetaMask and then again to start staking on the ILV core pool(not Sushi pool) ??

Or are gas fees a one time thing during the overall process?

[echo quartz]

I don't think gas is as bad when you withdraw to metamask but yeah you have to pay. And then you have to pay gas when you start staking as well yeah

what am I missing here? Why are my total values the same if I claim every 10, 30 and 8 days?

[clear cape]

whos calc is this

[echo quartz]

ILVFi

[clear cape]

@elder dawn Can help you out if no one answers you by the time he sees it

[echo quartz]

I'm planning on putting everything into SLP is that why everything's fucked?

[green sparrow]

Definitely paying fees when transfering to MM. I tried transfering 1 ILV from crypto.com to MM and that took 0.04 ILV in fees

[somber condor]

@cunning perch definitely had someone try to scam me pretending to be you

[cunning perch]

DO you have their ID? can you share with me?

[somber condor]

i just blocked them stby

[cunning perch]

got it m8. I'll investigate

[somber condor]

6650

wont let me tag them in the channel @cunning perch

[cunning perch]

On it. Will have him banned immediately

[cunning perch]

Thx for being vigilant

[somber condor]

told me to use celo to get ilv had decent info but was trying to get me to link my wallet to some rando off chain network

[cunning perch]

you did a good job blocking them. I hope everyone does the same and report them so we can ban

[somber condor]

basically used legit links and info and slipped in the random misinformation in one line, also is there a reason i am limited on posts in this channel?

[cunning perch]

It's your level. It's too low to be able to send pics. You have to stay a bit more active to become green 🙂

[somber condor]

ahhh gotcha, ty

[cunning perch]

No worries. btw. Regarding SLP, you will def get lots of rewards for your investment and if you are planning long-term, maybe it's worth a shot if your risk tolerance is high. Also, If you are planning to invest a good amount, ppl have been happy with SLP so fat. Also you will need to pay some more gas in compared to the normal pool. I'll be here if you had any more question 🙂

[elder dawn]

@weak yew can you send me the link to your copy and i can see what's going on. what i think is happening is you never hit the threshold to claim in the claim every X side. Change 8 to 1 and see if it changes.

[echo quartz]

Sure thing https://docs.google.com/spreadsheets/d/1ppJ6K1ZXWcA-0mYWqG1sfdO8zaqtFYqp1n3Yv1BRgY0/edit?usp=sharing
what do you mean 8:1?

[elder dawn]

in cell L2, type 1. then it should show a difference. given your level of investment, it is currently taking longer than a year to hit 8 ILV accumulated rewards. that's why claiming every X days is claiming. Now its a question of how often you want to claim, especially given current gas fees

[prime pewter]

Was that all you paid, the 0.04 ILV ? Or were there any other fees?

0.04 ILV much cheaper than what gas is lately lol

[echo quartz]

I see thanks! I guess I'll be hoping to catch low gwei moments to claim my rewards or let the transaction be pending for a while by adjusting the gwei

[green sparrow]

That was just the fee to transfer from crypto.com to Metamask

[prime pewter]

Much appreciated dude

[mellow hull]

I also got a message but reported them before I could get their ID#

[cunning perch]

Thx. be very vigilant. They are always lurking. We will never DM you. If some one did, please send their IDs to #🚨❗〕report-scammers

[fossil pelican]

When I go to claim my rewards, when the gas fee is displayed in Metamask, is that the fee for claiming from just one of the pools, or is that the total gas fee for claiming from both pools? (since I have to claim regular rewards before I can claim SLP rewards). I mean to ask will I have to pay gas twice? For the regular rewards, and again for the SLP rewards.

[cunning perch]

check this please. It can help you #🥩〕staking message

[fossil pelican]

Thanks!

[echo quartz]

there are 2 different gas fees when staking the sushi/normal pool?

So if you start with SLP and get ILV from rewards you have to pay again to stake what you’ve received?

[cunning perch]

yep. I have explained all here #🥩〕staking message

[cunning perch]

any claim needs gas and in case of SLP rewards, 2 gas

[echo quartz]

I’m a bit lost regarding the small verification fee before staking, I’ve paid it once but I didnt have slp in my wallet so if I decide to go with the SLP staking I have to pay this again?

So I’m not referring to the staking fee to start your stake

[cunning perch]

any tokens than are going to be staked need to be verified to ensure they are the right tokens and hence the approval fee

[echo quartz]

Makes me wonder, could I had avoided the ILV fee if I only intend on staking SLP or would that fee still pop up once I claim some ILV as reward?

[cunning perch]

ILV rewards won't incur approval fees. Approval fees are for new tokens that you want to stake. Claiming SLP rewards initiate 2 gas fees. one for ILV pool and the other for SLP pool. You can claim ILV only pool and pay 1 fee afaik

[echo quartz]

ooh, that changes a lot. If you don’t need to split the reward into both SLP and ILV

[cunning perch]

as long as you have staked SLP, you will have to claim both pools when you wanna claim SLP rewards. V2 is planning to fix that 🙂

[echo quartz]

thanks a lot, I think I’ve reached a dead end regarding my staking lol
I feel like there will be a very fine line to drowning in gas with my small amount

[cunning perch]

sure. Always take gas into account and hopefully the new version will fix all the issues V1 faces

[echo quartz]

fingers crossed 🤞🏼
until then I’m not sure if I should just hold my ILV

[cunning perch]

if you haven't staked ILV, watch out for gas if you are ever planning. and know that migration to V2 also needs gas

[shrewd mesa]

When should we expect V2?

[maiden pawn]

What means that you have to pay Gas fees when you want to claim sonething After you have staked ?
Do you have to pay fees on your rewards ?

[shrewd mesa]

@cunning perch

[cunning perch]

Hey. Should be before/by or shortly after land sale. Still needs to be confirmed. Might take longer cuz needs to be audited, proposed, approved and implemented

[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.

[shrewd mesa]

Fair makes sense - thanks!

[split mango]

Read through the pins and didn't see an answer for this, but still feels like a stupid Q: does staked ILV/ETH SLP get revdis?

[cunning perch]

Sure. SLP = ILV + ETH. So the ILV part gets it. Not the ETH part

[split mango]

So staked SLP essentially = ~0.5 staked ILV (of equivalent value) as far as revdis goes?

[cunning perch]

Kinda. Token weight matters and also if you lose ILV to IL, then it'll be less RevDis for your token, but your rewards should compensate for that

[split mango]

Great - thank you for this

[cunning perch]

Anytime brother 🙂

[hot lynx]

Here he is 👍🏻

Good night @cunning perch 👍🏻

[cunning perch]

Hey bro. Doing my night stroll before hitting the bed 😄

[kindred ivy]

;;play nirvana

[crisp cairn]

You must join a voice channel first.

[ionic wraith]

Is staking only done through Metamask ? Or can I stake with another wallet or method?

[cunning perch]

You can stake in ILV website with any Wallet Connect compatible wallet like Trust Wallet, etc

[woven ibex]

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

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

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

[hot lynx]

Np all good I am logged on and into my first zoom call .. ahh ILV take me away from this 🤣 #🥩〕staking for new life

[ionic wraith]

Thanks. My metamask got hacked and I am looking for a more secure solution.

[hot lynx]

Trust wallet is good

[cunning perch]

You can always create a new MetaMask with new seed and connect it with a cold wallet like Ledger to make it safer. Any HOT wallet is at potential risk. Cold wallets make them safer.

[ionic wraith]

Thanks for the advice...man I got cold feet. It's hard for me to jump back in with MetaMask

[cunning perch]

Many use it and never get hacked. Any HOT wallet can easily be hacked if the SEED is leaked or you click on wrong/unsafe links. MM has been one of the best wallets that can be used as a bridge with Cold wallets like Ledger/Trezor to make it even safer. Cold wallets keep your keys offline, so they will need to be physically engaged in order to sign the TX.

[hot lynx]

I use safepal for my hard wallet and that's great

[ionic wraith]

So, if I use MetaMask with a hardware wallet - I'm safe, even if my seed phrase gets leaked ?

[cunning perch]

No. Seed phrase is the most important thing you need. Still you need to be careful, but Cold Wallets are much safer than HOT wallets that are purly online. As @hot lynx said you can also use an SFP cold wallet with SFP app if you don't want to use MM.

[visual laurel]

Just a heads up, someone with the username IlluviumStaking is going around sending people DMs telling them to stake in ethereum to a particular link.

[ionic wraith]

SFP? What's that ?

[cunning perch]

yes we've been banning tons of scammers. Please send usernames in #🚨❗〕report-scammers if you see one

[cunning perch]

SafePal Wallet. Watch out for scams. Always use genuine links and downloads

[gentle axle]

Hey Arash, I've got a question. Say I have 1 SLP staking at the moment. Now say that I get myself another 1 SLP, sitting in my Metamask. If I want to add it to my stake so that it is 2 SLP, how many transactions will that be? 1-claim rewards, 2- unstake current one SLP, 3- re-stake two SLP ?

[next ruin]

Unless you want to lock in your existing SLP there is no need to unstake. You could just opt to stake your new SLP and you would be prompted to claim all pending rewards (so 2 trx if you have pending rewards from ILV pool and SLP pool, only 1 trx if you only have SLP pending). And then one transaction to stake your new SLP.

[gentle axle]

Right, thanks! Will they be shown as added up if I just add it? Like, will it be showing 2 SLP

[gentle axle]

'

[regal osprey]

Does anyone remember if withdrawing SLP you are prompted with one or two transactions? Is it one transaction for claim ILV, and another for remove? Or it does both together in one? Trying to estimate total gas fee

[cunning perch]

@hexed bough hey Carlos. Could you please help @frank lion with his SLP withdrawal? Apparently whenever he wants to withdraw he gets a fraction of rewards. Thanks my friend. 🙂

[viscid ferry]

Yes, it will be showing 2 SLP staked on the dashboard. But under Vesting tab you shall see two separate stakes with their own locking period.

[viscid ferry]

Two transactions. First one claiming ILV reward, consuming around 200k unit of gas, second one claiming SLP reward, consuming around 315k unit of gas..

[regal osprey]

Thanks

[ionic wraith]

I like the way Cardano is doing staking. No need for web browser plugins. You can use a wallet like Yoroi, that has the staking pools built-in. Feels much safer that way. Don't have to worry about accidently going to a scam / phishing website.

[royal sun]

just curious on unstaking. ive withdrawn my SLP. do i use MM to swap back to ILV?

[elder dawn]

presuming you just unstaked from Illuvium, the next step is to remove liquidity from Sushi.com. that will turn it back to ETH and ILV. Go to the ETH/ILV pool in "Pool" and remove liquidity.

[royal sun]

got it! thank you.

[void fossil]

Question for anyone who knows about staking in the liquidity pool. If I lock for 1 year, will I be able to use stakes assets for land and in game purchases when they start opening up the marketplace?

[elder dawn]

you can't access the slp you staked for a year, but you can claim rewards as sILV to use, though that token is only eligible for transactions with the DAO. Marketplace transactions like buying illuvials are interactions with other players, and that can only be done with ETH

[void fossil]

So i should be able to claim staked rewards and use those for purchases if i sell the sILV for ETH?

[elder dawn]

yes, you can claim rewards as sILV and presuming the Uniswap liquidity pool (not officially sanctioned) still exists, you can swap sILV for ETH, and use that ETH however you choose

[void fossil]

Awesome, thanks!

[simple arch]

!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.

[simple arch]

Hi team, I've found the sILV contract on Etherscan but can't seem to locate it in Uniswap. Help please?
https://etherscan.io/token/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2?a=0xa7f72a1ec0ab189998a3eec8b886e6360aff39da

[next ruin]

You must manually search the sILV address on UniSwap (0x398aea1c9ceb7de800284bb399a15e0efe5a9ec2) - you can verify this is correct as the address is pinned in #💰〕token

[simple arch]

Thank you, found it

[prisma schooner]

!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.

[last sedge]

got this shit today... I'm quite savvy and at first glance I even thought it was real.

[hushed valley]

This is when you know illuvium is going to be gamechanging

[rustic forge]

hey to restaking i need to take it out and restake it? like pay the gas fee too? 😩

[next ruin]

Make sure you drop in #🚨❗〕report-scammers if you haven't.

[prisma schooner]

I didnt even read what you wrote, clicked it and thought it was real.

[cosmic panther]

I have this exact same question! From what I can see, you unfortunately seem to be correct. Did you get an answer?

[autumn cloak]

Yep.

[cosmic panther]

brutal. Thanks @autumn cloak !

[autumn cloak]

Of course! Yea gas fees can really kill you lol

[next ruin]

Are you trying to lock what you've already staked? If so, yes. Will have to un-stake and re-stake. If you just want to stake more you can do that without withdrawing what is already there.

[autumn cloak]

Is there any benefit to relocking right now? Don't you keep your weight after tokens unlock as long as you don't unstake?

[next ruin]

They may have staked flex to begin with and now want to lock up. If you aren't gaining token weight there is no point, you are correct.

[autumn cloak]

Ah gotcha. Makes sense

[cosmic panther]

I had ILV staked with a 2 month lockup which is now over. I assume my ILV rolls over into the 'flexible' staking APY parameters now? I haven't seen my "pending ILV rewards" increase in a week or 2 and was worried my ILV is unstaked and just sitting there doing nothing.

[next ruin]

When your staking lockup period ends, the tokens remain staked at their existing token weight until you withdraw them. You should not have to take any action on this. I'd recommend disconnecting / reconnecting your wallet on the site and maybe clearing your browser cache. Sounds more like a display error to me.

[unborn cove]

What do i need if i stake at SLP Pool

[next ruin]

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

[unborn cove]

What does 50/50 means. 0.5ILV/0.5ETH ??

[next ruin]

Equal dollar values. So $1000 Eth / $1000 ILV or the like.

[unborn cove]

Ok2. $dollar values. Not token

[unborn cove]

Question. After i stake will my Eth and ILV staked returned to my wallet?

[brisk surge]

If you unstake your ILV or ILV/ETH that will be returned to your wallet, when you are staking it goes to the staking contract.

[next ruin]

You will provide the Eth and ILV to the SushiSwap contract. You will get SLP in return, the Eth and ILV will be out of your wallet. You then stake the SLP tokens on the Illuvium site. At that point the SLP will be out of your wallet as well.

[unborn cove]

Will SLP be converted back to ETH/ILV?

[brisk surge]

Yes but at a different ratio then what you initially went in with.

[unborn cove]

Ok noted thanks. I got 2.55 ILV and thinking to staked through SLP Pool. Im newbee at staking and I only stake coins at binance which is very straightforward.

Gas fees is quite big so im having second thoughts

[unborn cove]

But the amount of token will be the same right? Just the dollar value will be different?

[tidal charm]

Hello can anyone help me . i swapped eth to get one Illuvium today. didnt know what i was doing then swapped it into liquitity. i can see it on Sushi but when i try to stake after connecting my wallet nothing happens. anyone ??? I was told Carlos is the man and could help

[next ruin]

Liquidity pools keep the total tokens in balance by $ value. So you'll get equal values of each back, but the total token count will be different. Would highly recommend taking a look at this: https://academy.binance.com/en/articles/impermanent-loss-explained

[tidal charm]

Anyone ???

[next ruin]

What do you have in your wallet right now? ILV? SLP?

[tidal charm]

slp

not what i wanted

[next ruin]

So, you are trying to stake the SLP token on the Illuvium site?

[tidal charm]

can i dm you a pic

[next ruin]

Sure

[tidal charm]

i thought i had ILV.... i can see it

[next ruin]

So, you have .4878 SLP. Are you trying to stake that on the Illuvium site now?

[tidal charm]

yes. but it wont connect. yes my wallet is connected

[next ruin]

Wallet is connected and when you go to stake in the Sushi LP pool it says you have zero balance? Or what do you mean won't connect?

[autumn cloak]

The issue @tidal charm is having is that when they connect their wallet to the staking website and try to stake it shows zero balance despite them having the SLP in their wallet. I was trying to help them earlier

[supple meadow]

when stakers get RevDis is it locked up for a year like the other rewards?

[tidal charm]

yessir

[next ruin]

No, RevDis is unlocked ILV.

[unborn cove]

Either pool you get rewards??

[supple meadow]

thanks

[next ruin]

Revenue is distributed to all staked tokens. ILV you get RevDis on the full amount of the investment, SLP you get on 50% as that is the ILV token portion.

[unborn cove]

Thanks

[tidal charm]

@next ruin what do you think ???

[amber dragon]

can someone explain to me how the sushi stake works , I bought 10 ILV the other day and regularly staked in for about 40% in the standard pool , i realized the sushi stake with SLP was a riskier stake but provided over 400% rewards. I’d like to buy more an stake in that pool. What coin do i need in order to stake in that sushi stake w SLP

[sacred cosmos]

Ilv and eth then swap to slp thru sushi swap liquidity tab

[amber dragon]

ETH/ILV SLP Token: 0x6a091a3406e0073c3cd6340122143009adac0eda

so this token correct? i tried buying this token in uniswap and sushiswap but i couldn’t get liquidity in either

[sacred cosmos]

You dont buy it. You swap your oen ILV and ETH tokens for it via sushiswap

[sacred cosmos]

Follow the steps i put here: #❓❗〕community-help message

[gloomy gazelle]

!lp

[woven ibex]

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

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

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

[dull notch]

Hey guys, once the rewards are unlocked after a year, will they still count as a weight of 2 if we don't withdraw?

[gloomy gazelle]

thats correct

[rapid sedge]

Hi All, received a notification of staking ETH directly on ILV for 1000% APY. Is this legit?

[gloomy gazelle]

gotta be a scam

if it's not in #📣〕announcements its not legit

!scam

[woven ibex]

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

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

[subtle shore]

I got scammed by a fake metamask profile, he stole all my liquid illuvium, most expensive night of my life, on October 18th but the scammer couldn’t take the locked SLP tokens thag i locked for a year at 532% yield. The scammer has my seed phrase, so in theory has access to my compromised wallet indefinitely, how can I unlink or stop them from robbing me again next year when the funds are unlocked?

[gloomy gazelle]

I get that you are torn up but you really don't need to post the same message all over the place

There's a fair chance that the scammer does not know to pay attention to your staked SLP or even when it will unlock

But its also possible that they do know

[subtle shore]

Thank you I didnt know which channel to write it to

[gloomy gazelle]

no worries just pick one in the future

[subtle shore]

The ILV that he took, was staked so he actually went on the Ilv site unstaked and transferred it out

[gloomy gazelle]

oof that sucks

[rapid sedge]

Thanks, I blocked it.

[subtle shore]

You blocked what?

[gloomy gazelle]

did you post in #🚨❗〕report-scammers

[subtle shore]

I did as well yes

[gloomy gazelle]

ok good the lead mods will be sure to ban the scammers

[subtle shore]

Its been 3 weeks, im over it, just hoping there’s something to be done before next year

[gloomy gazelle]

So unfortunately you will need to withdraw your SLP tokens to be able to transfer them. You'll just need to be faster than the scammer

[rapid sedge]

I did thanks

[gloomy gazelle]

There's a possibility that there will be an option in v2 staking to make a transfer to another wallet without withdrawing from the staking pool but I'm not certain at this point

[steady trellis]

Can't v2 be helpful for him ? edit : shit you owned me again

[gloomy gazelle]

maybe

[subtle shore]

I heard about this but in theory the scammer could do this as well right?

[gloomy gazelle]

https://tenor.com/view/i-win-again-tracy-jordan-30rock-another-win-champion-again-gif-21894285

[gloomy gazelle]

correct

[subtle shore]

Thank you anyway appreciate the replying

[gloomy gazelle]

best practice would be to get a hardware wallet setup to receive your tokens when you try and get them

[subtle shore]

Ill find out when i transfer eth to pay for the Gas fees when the time comes to unstake

[gloomy gazelle]

!staking

[woven ibex]

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

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

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

[gloomy gazelle]

@timid wigeon There is a lot of good information about staking pinned in the channel as well

[quaint merlin]

I can’t really get much from $100 staking can I ?

[dusk gorge]

Gas fee will be more

[quaint merlin]

Gas fees r so stupid

[dusk gorge]

No choice. Let see how V2 will fix it

[lunar knoll]

Hey guys. New to this space.
I had a similar question- would a 2k investment be worth staking? I REALLY want to get involved with this game as early as possible, and just looking for the correct avenue.
Appreciate it 👍

[sacred cosmos]

On ILV core pool? Yeah, I believe so (NFA) on SLP youd want to target around 1 SLP to stake since gas fees can hurt and eat your profits

[sand wing]

gas right now will be at least a couple hundred for all the transactions it'll take to do SLP staking so you may just want to stake ILV tokens to the core straight up

[lunar knoll]

I think thats what i would do.. buy it though my account in Binance and just stake directly.. perhaps when gas prices go down a little

[gloomy gazelle]

Gas is usually lowest on the weekends.

[lunar knoll]

I guess my question is - what would be the best way to utilize an investment of 2K within this game, in order to have as much benefits as an early adopter.. (funny saying this when theres 200k members in this server)
Is it worth saving the money and using it for purchases in game.. better to stake.. I read somewhere about buying land as well….
Just looking for advise really

Sorry for the bombardment of questions 🙂

[gloomy gazelle]

If you just want funds to play with in game you could get sILV. But if you want to earn more tokens and revdis for the long term then you should stake.

!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.

[lunar knoll]

Awesome! Appreciate the response @gloomy gazelle

[subtle shore]

Can I trust a user called Arash? He mentioned he was a moderator responding to my query just now

[gloomy gazelle]

If he DMs you first it’s not the real arash

Poor guy always gets impersonated

!scam

[woven ibex]

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

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

[bleak tinsel]

Could someone please clarify for me:

How is revenue distribution actually split between ILV-only vs SLP?

Let's say they're both locked at 2.0 weight.

I get that only the ILV half of the SLP tokens get revenue distribution, however, dose that half also get way more % of revdis than the ILV only pool the same way that they do with staking rewards?

Like how much percentage would 1 ILV -only token get vs .5 ILV in the SLP pool?

[gloomy gazelle]

Just block and post screenshot in #🚨❗〕report-scammers

[subtle shore]

Cool thank you

[worthy peak]

I suppose this answers your question, the part about pool weights https://medium.com/illuvium/9-tokenomics-launchpad-and-reward-details-5894c3b356be

[bleak tinsel]

Thanks but to be honest that's gone over my head - anyone about to give a percentage of rev distribution that will go to 1 ILV token staked in the ILV-Only pool vs 1 ILV token staked in the ILV half of the Eth-ILV pool?

Assuming both are locked at 2.0 weight

[unreal field]

Which pool do you guys recommend staking in?

[worthy peak]

There is this line "Participants in both the $ILV / ETH and $ILV staking pools are given equal weighting for the purposes of Vault distributions.". So seems like if you have both ILV and SLP locked to weight 2, you will get revdis equally, having in mind that SLP has only half of its value in ILV

[pliant juniper]

Hey guys what's RevDis I keep hearing about?

[bleak tinsel]

Great thanks! I thought this was the case and then watched a recent youtube video stating that SLP - ILV will get a lot more

[gloomy gazelle]

!revdis

[woven ibex]

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

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

[gloomy gazelle]

!Goals

[woven ibex]

Illuvium is not meant to be just a single game but a gaming ecosystem that this DAO wants to develop to such a level that it can compete with gaming juggernauts like Blizzard, EA or Riot.

In 2020 Activision Blizzard's annual revenue was 8 Billion USD. At the time of writing this, their Market Cap is 64 Billion USD with a small dividend yield of 0.50 percent.

Illuvium offers 100% revenue distribution to ILV token holders according to their stake and with a max supply of 10 Million ILV to ever get minted, the revenue per staked ILV will increase with every additional game released.

[worthy peak]

You get more for SLP in farming. Farming and revdis are different things, read the article carefully.

[pliant juniper]

Thanks pelican

[pliant seal]

Little bit of topic, but not completely; anyone here staking Merit Circle as well? they copied ILV staking design and the first rewards just hit...anyone have some data on how ILV rewards (apy) have tapered of and what they are at now? does that apy stabilise at a certain point?

[bleak tinsel]

Yeah that's how I had understand it initially as well and just wanted to confirm that the youtube vid was actually wrong lol

[gloomy gazelle]

It does not really stabilize.

[pliant seal]

OK but the graph is an example of the curve? very high and then long tail winds down? the rewards i'm seeing are crazy and some referred me to ILV staking so trying to better understand the design. Its brilliant imo

[worthy peak]

Revdis is the reason why ILV goes to moon😉

[sand cloud]

The graph shows the amount of ILV distributed to stakers, you get a share of the rewards equal to your share of the pool. The APY is the monetary value of those tokens (rewarded tokens * token value) compared to your stake.

[pliant seal]

Gotcha....really sorry i missed this...remember very vividly passing on $80 dollar ILV in the BLP....I've learned...not making the same mistake with mc 😄 Thanks!!

[gilded wigeon]

Gm guys..need advice...i have 2 ILV unlocking nxt month, i want to add it to my SLP pool...if i waited for the GWEI to atleast go down to 70-50..how much is ur rough estimate on the gas fees?
OR i should wait for the revdis of the land sale before transferring it to LP?

[gloomy gazelle]

Make a copy of this calculator to check the transaction costs. https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit?usp=sharing

[gilded wigeon]

awesome thanks mate

[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]

!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

[brisk surge]

I would look at the differences between both LP and single ILV pool, and also watch the video from the staking if you have any more questions.

[gilded wigeon]

my personal advice (not expert on all this but have staked in both pools) is if you have alot of ILV to stake LP pool is totally worth it, the rewards can outweigh impermanent loss (but you need bigger funds for the gas fee on staking and claiming rewards ).. But if you're just starting out and just testing the waters with maybe 1 or 2 ILV then the simpler ILV pool is much better i guess

[brisk surge]

That's a good point always going to depend on the amount you are putting into it and what your risk tolerance is.

[unreal field]

Cool, thanks man. At the moment just trying to decide whether to buy 4/5 ILV and stake or invest in sILV instead for the land auctions

[gilded wigeon]

Up to you bro, but dont forget that after the land sale they will distribute the revdis 100% on ILV stakers so u might want that piece of pie too...but yes buying lands will probably a good investment too although we dont know yet the prices of this lands

[gilded wigeon]

If u have funds for atleast 5 ILV on LP pool its not bad just wait for gas to go a bit lower..to be honest i wish i put everything on LP pool from the start been tranche buying ILV since 250USD

[unreal field]

Sounds like your in a pretty good spot anyway man

[gilded wigeon]

yeah i guess but im just a small player bro..i even save up for the gas fees just to claim rewards haha

[unreal field]

How many tokens you got?

I might be joining you soon , shrimps gmi, gonna be people buying in for wayyyyy more once beta launches imo

[gilded wigeon]

Yup...WGMI man 🙂

[fluid glade]

just be careful, it is not a safe practice to disclose your balance in crypto

[gilded wigeon]

alright bro deleting it now haha

[unkempt nacelle]

Is there a cheap way to stake ilv? The gas fees are insane, calculator gives me 250 usd total to stake once

[gilded wigeon]

i used to claim rewards on Sundays, that's the lowest Gwei i get..

[unkempt nacelle]

Yeah, thats also one thing, but to even get into staking costs 250 usd right now. Thats really something that irks me to death about eth. The fees are way to high

[gilded wigeon]

yeahh.. but if ure staking a couple ILVs, u can get it all back in rewards.. u can wait for staking v2 but i dont know when it will be implemented and ull probably gonna miss the revdis on land sale

[unkempt nacelle]

Yeah i want to get in fast. Also plan to get into land sales when they drop. I hope they take some time so i can mine some more eth before ^^

[gilded wigeon]

then i guess all u can do is really wait for the gwei to drop.. i really do think that after revdis on land sale and people get the point of how big deal is the revdis, ILV might go way higher..

[unkempt nacelle]

I think so too. I only head about this project today. I am digging into it right now. Also planning to read the white paper deeply. But generally i think it has potential. Also link, mana, enjin are all projects for the next 5 years i think

Btw. what are the rewards like for staking 1 ilv per year? (apy?)

[gilded wigeon]

u can see it in the core pools..APY is indicated in both pool..ILV pool i think is 40ish % and Lp pool is 400ish %

[gilded wigeon]

but the more ILV is in the pool the lower the APY will be and some percent lower each week i think not sure though

[brisk surge]

hoping someone can help me out here. Ive claimed my ILV and SLP rewards together as i normally do however this time it seems the transaction has dropped midway. my portion of the ILV claim has gone through but not the SLP. Is there any way to resolve this?https://etherscan.io/tx/0xe5271cdf519e17d47f2b73d75b3deb97c7b7f3d0fe35abd1524e34b67fc6eb77

[unkempt nacelle]

Thanks, i only started with staking atm and still trying to grasp all the swapping, pools and different ways to stake

[brisk surge]

maybe remove the links so anyone here doesnt click on them

[green sparrow]

Bro dont put it in the chat like that😨

[brisk surge]

exactly, crazy

[potent flare]

yeah nobody click those links

[gilded wigeon]

Check out this calculator made by lehalel to give u an idea for the staking rewards
https://docs.google.com/spreadsheets/d/1z2co3pS7Yq9Hc86t705tU__d-vGuRp6iTTvHta9gOXE/edit#gid=1097421284

[fresh grail]

edit it dude

[green sparrow]

Delete this shit and report scam lol

[silent arrow]

@manic spindle 😉

[unkempt nacelle]

Thanks

[gilded wigeon]

no prob mate

[brisk surge]

dude delete this scam message please

[green sparrow]

Beginning to think he is the real scammer and just acting clueless😂

[brisk surge]

my exact thoughts

have posted in the report scammers channel

[spring creek]

yeah ban him!!

[austere tinsel]

Hey guys, I try to stake ILV with my Metamask wallet but before I can do it the websit tells me I have to approve my wallet first. When I confirm in my wallet the message "User denied transaction signature" pops up. What do I need to do?

[potent flare]

also be careful, if somebody dms you with help, its a scam

[sacred cosmos]

Did you get to resolve it? I helped my cousin out on a similar issue. Let me know if you need help

[brisk surge]

have dm you

[lilac ibex]

Hey guys can someone please answer a question I have about staking ILV and vesting?
If I stake ILV today and choose the lock 12 months option.
When I claim my ILV at 12 months are they then vested for another 12 months meaning I can't sell them for another 12 months so that's 24 months total? Thank you in advanced.

[sacred cosmos]

The rewards you claim are vested for 12 months (locked). But you don't need to wait for the end of the locked period to claim. You can claim your rewards throughout the locked period as it accumulates which allows the vesting period to start from date of said claim. So if you claimed a reward today it can unlock Nov 10 2022

[lilac ibex]

Okay but my initial ILV staked is not vested for another 12 months, meaning I can do whatever I want with them after the 12 months. It's only the rewards that I claim are vested for 12 months. Is that right?

[sacred cosmos]

Yes. Once it unlocks you have two choices leave it staked but unlocked so you get yields and revdis with original token weight or withdraw it back to your wallet

[lilac ibex]

Gotcha thank you so much. Really clears that up.

[abstract junco]

wait, so we will get revdis on the tokens that are staked initially only? Those tokens that we earn from YF, there will be no revdis for those?

[mossy hinge]

Hey everyone, I'm new here. Question regarding staking, the APY seems to be quite high and that scares me lol, just wanna ask, is everything legit and genuine

[sacred cosmos]

You'll still get revdis on the vested rewards. They're considered staked. My statement was just addressing the initial tokens staked

[brisk surge]

It is legit you can see how as time goes by the amount of ILV distributed goes down 3% every two weeks (fortnight). TVL is also another constant that will push the APY down that is determined to how ILV/ETH is doing.

[sacred cosmos]

What he said hehehe.

[mossy hinge]

I've seen the trailer yes and the game looks phenomenal and I think my fear stems from the fact that it looks way too good to be true haha.

[mossy hinge]

What's TVL?

[brisk surge]

TVL (Total Value Locked) metric. TVL represents the total amount of assets locked in the various DeFi applications smart contracts.

[mossy hinge]

I see, thanks for explaining! Need to do a lot more research but I'm excited for this game already lol.

[brisk surge]

For sure, if you need anything else don't hesitate to ask!

[clear cape]

For future reference, dont go into the discord of a project and ask if its legit

If it isnt..chances are people will try and scam you anyways. Hopefully try and do some outside research too to assess the validity of a project

[warped oxide]

hey guys! i'm looking to buy into ILV and I do plan on staking, is there a minimum staking period? and... what's SLP?

[mossy hinge]

That makes a lot of sense. Thanks

[rose frost]

How much is gas right now?

[vernal needle]

is it better to stake ILV directly, provide liquidity then stake it

[potent flare]

@warped oxide no minimum preiod 0-52 weeks. slp is le sushi liquidity pool token. @rose frost 130 gwei @vernal needle depends on your strategy/budget

[still kindle]

Welcome to the gang OneShot. If you can spare the time read all of the pinned messages on his channel and token, then search for the YouTube videos of Kieran and Aaron talking about the project. Then reread the tokenomics paper, then reread it again. The reread the bit about 30% of all tokens going to staking and you will have a lot of answers

[vernal needle]

let say i buy 3 ILV for 3600 and i buy 3600 eth to provide liquidity, then i stake. would it be better to not buy eth and only ilv then stake it. so i would be staking a worth of 7200 ilv

[potent flare]

idk man you should make a choice between that. Claiming rewards also cost gas, so if you can afford eth gas to claim rewards (atm like 300ish to claim from slp pool)

v2 staking might resolve that.. eth 2.0 might resolve that.. nobody can tell you whats better to do

if you reject the second tx, it will only claim the ilv pool

yep

staking v2 might fix something of that. i would suggest wait and see, should be soon™

[sand wing]

Can you explain TVL or direct me to where I can learn more? Thx

[brisk surge]

Yes this is a pretty good article if you have time to read it https://medium.com/multi-io/defi-explained-the-tvl-metric-99187587f8f0

[sand wing]

perfect, thank you!

[winter depot]

heyy! anyone knows roughly how much ILV to stake to make it #worth? especially since some of you guys mentioned gas fees was quite high??

[humble depot]

Same question

[brisk surge]

I would check out the different calculators so you can get a rough estimate to this https://docs.google.com/spreadsheets/d/1z2co3pS7Yq9Hc86t705tU__d-vGuRp6iTTvHta9gOXE/edit#gid=1097421284 the dune analytics one gives you an idea to the overall amount for both stakers in SLP and ILV/ETH and lastly this calculator also gives you an estimation to what staking gives you in the amount of time https://cooper1903.shinyapps.io/stakingyield/

[humble depot]

I’m staked in now with plenty because I got in early. My friend wants to start staking in the pool but what would minimum be you would recommend to frens?

[winter depot]

thanks sir haha

[humble depot]

Maybe 9 slp?

[brisk surge]

I think that would be fine definitely going to be more than your gas fees for staking and staking as time goes on these are things to think about until we get to staking v2.

[rancid cobalt]

damn the game isnt out yet and its already too complicated

[clear cape]

this has nothing to do with the game :p

[agile herald]

Where do we stake the coins ive just got in woth 3 Ilv and want to stake it

And is the staking through illuvium or a 3rd party company

[sand wing]

staking.illuvium.io

[tall sapphire]

Damn these gas fees. Is everyone just waiting for opportune time or just rolling it into ILVs

[hollow trail]

guys

[sand wing]

If you use MetaMask you can set advanced gas fees and choose a lower gas fee (it may just take days to complete the transactions), but yeah - gas sucks. This is why Illuvium partnering with Immutable X is so fantastic, trading NFTs without gas (eventually)

[obsidian nebula]

Hey be careful everyone. There is a fake Illuvium bot sending DMs claiming that there is now ETH only staking starting at 1000% APY. I didn't fall for it. Even if you don't fall for it, there are plenty newbies to crypto in here that might. Please spread the word

[tall sapphire]

God I can't wait! I never mess with that stuff because I'm afraid of it never confirming 😆

[obsidian nebula]

There are lots of good YouTube videos on staking. Before staking, make sure you understand what each pool is so you know you are staking it where you want.

[gentle axle]

Can you add another SLP to stake if you already have one locked?

[brisk surge]

Yes sir, you can add more SLP but then you have claim your current rewards first.

[gentle axle]

Ahh awesome! That fine I'll DCA some SLP and keep adding it (taking in count gas fees obvs..) thanks!

[split mango]

Ah so the declared APY is variable and will decrease over time?

[gentle axle]

Does anyone know how yield farming should be declared to the tax?

As I understand, staking rewards counts as income and is taxable. However with Ilv it is locked, so how can you pay tax on something you do not technically have yet?

[wheat kestrel]

In the US, it is my understanding you don’t pay taxes until the rewards are unlocked and you actually withdraw them into your wallet. But, DYOR because I’m no expert.

[meager hemlock]

Wait I can claim rewards in sILV and be able now sell those sILV if I want? (source - #🥩〕staking message)

[sand cloud]

Yes, sILV is unlocked when claimed, it traded for 500$ last I checked

[meager hemlock]

where can I sell? do you have link?

[sand cloud]

There's a liquidity pool some whales have set up on uniswap

[brisk surge]

Yes also with the amount of distributed ILV going down as times goes on.

[meager hemlock]

So I press "allow..." and then swap and voila I have sold sILV to some ETH? this is legit?

[vestal skiff]

What impact do we think the land sale will have on APY? Just more people coming into it? And are stakers getting revdis from land sale? Thanks

[brisk surge]

yes stakers are getting rev dis from the land sale

[vestal skiff]

Thanks!

[brisk surge]

np

[real nebula]

did something change about the contract on the slp? just noticed that zapper is no longer tracking it for me as of this morning.

[severe comet]

Is there a prediction of the revdis from the landsale? I meant how much for each ILV staked?

[ionic wraith]

browsing the web with a MetaMask, wallet enabled in your browser is soo risky for me. Is there any other way to stake ? I don't want to worry about accidently clicking on a bad link/url and going to a phishing website.

[elder dawn]

I noticed that too today. Different from yesterday, no SLP staking detected. Everything else still tracks on Zapper

[delicate plaza]

So for the game will all the NFTs you collect be on immutable x? Or can we store them on a ledger or something and access them through immutable x?

[sand wing]

I don't think we know yet for sure, but since they partnered with Immutable I would assume the NFTs would be stored on Immutable and can be bought or sold in their marketplace for very low (or zero) gas fees. Tokentrove has also created a great interface for the Immutable marketplaces. I've been using it for my Gods Unchained NFT cards and love the speed and simplicity.

[delicate plaza]

The no gas fees sounds great. Im just hoping there's some confidence on security. Would be terrible to play the game for a year then get your NFTs stolen

[sand wing]

Or have them straight disappear if they switch something up and you don't respond quick enough, like Axie did to me haha

[echo quartz]

does this work when starting to stake as well? Is there not a risk that it will fail

[sand wing]

Yes that is a risk, it may take days or never go through at all

[echo quartz]

sounds so vague yet its what it says everywhere, like in which conditions does it fail

for example if you put gwei to 90 and it stays at 120+ for a couple days?

[cunning perch]

gas volatility and running out of gas might cause the drop and you lose gas. WHy would you wait for 120 days while you can pay fast gas ( bit more) and get the rewards kick in? too much focus on gas will cost you rewards

[echo quartz]

nah I meant if gwei stays at 120+ and never comes close to 90, is that when the transaction would fail?

as of now I'm not staking because it'd cost more than 10% of my ILV to start 😛

[cunning perch]

No I don't think so. I would always stay pending and you will have lost lots of chances to get rewards. Sometimes paying a bit more gets you in faster and you wouldn't have to worry about the TX. Besides all of that, V2 will help you in a way that you won;t even have to worry about gas anymore. It is a gas-utilized, gas-optimized, gas-minimized and gas-efficient contract.

[echo quartz]

that would change a lot for the broke people like myself!

[clear cape]

It wont be so low in v2 that 'we wont have to worry about gas anymore' surely?

Or else this means we can prob claim a lot throughout the week or ?

[cunning perch]

probably all the above lol you will still have to pay for occasions but as Aaron has said, it will be extremely optimized (paraphrasing here)

[clear cape]

fuck..interesting, i think ILV core pool APY might get soaked up then post v2 hey

[cunning perch]

well....RIP APY then haha 😄

[elder dawn]

Context though - even with V2 extremely optimized - just sending ERC-20 tokens right now the estimate is $55 at 200 gwei, so let's stay realistic, and it will still be on Ethereum. Better? yes. Better to the extent that we no longer care about network congestion? no

[echo quartz]

what does sending ERC-20 tokens mean? I haven't witnessed $55 gas fees since I got into crypto lol

[elder dawn]

just using the Etherscan estimates for right now. It shows the estimated costs for a couple transactions - e.g. sending tokens between wallets, swapping on uniswap, adding liquidity on uniswap, etc. https://etherscan.io/gastracker

[cunning perch]

Ofc. Whatever is gonna happen, is gonna happen with staking and claiming. Anything outside it is not gonna be affected. One major flaw that it's gonna fix will be the 2 TX SLP claims

[elder dawn]

oh, i'm a huge fan of that! I have spent so much on claiming low amounts from the ILV pool to get at my SLP rewards.

[cunning perch]

Yeah I feel you. That is one of the goals. The proposal should be out soon imo. We'll see how it goes.

[hot lynx]

Hey @cunning perch there is a scammer bot ok the go again posting ILV staking fyi

[sand umbra]

Hello, i have a question: I staked ILV for 3 months and now i can withdraw them, but to do that i have to pay gas fees twice? For claiming rewards and withdrawing my initial ILV stake? Or i can just withdraw my initial ilv without paying the fee of claiming rewards?

[cunning perch]

I've lost count. They grow like roaches. please report them whenever you can.

[cunning perch]

Hey. Yes you will have to pay 1 gas to claim rewards and 1 gas to withdraw. This is the procedure.

[dusk gorge]

I tried when putting eth & ilv to get slp. I set at 70 gwei. After a day it said failed transaction and cost me $10

[hot lynx]

Its ok I have posted it in the #🚨❗〕report-scammers channel re staking 👍🏻

[echo quartz]

when was this? 70 gwei is ambitious as of now 😛

[dusk gorge]

Last week

Just before it start going crazy. I just unlucky

[echo quartz]

also only $10 lost seems like a win lol

[craggy field]

70 gwei was last sunday actually! Did my claiming at 70

[dusk gorge]

Not sure whether everytime will be the same. So depend on you whether you want to risk it or not

[dusk gorge]

Wow you are lucky. Hard to catch it

[sand umbra]

Thanks for your answer! And the fees are the same amount? I mean i saw early on this day when the gwei was low that the first fee was like $140~ , so the second one is also $140 or a different amount? Or both of the fees are contained in the initial price?

[cunning perch]

they should be more or less the same. It's not low now. You will have to pay a lot atm if you wanna undergo 2 tx

[hot lynx]

Ready to guide us to low gas ⛽ 👍🏻 😅

[cunning perch]

thoooon 🙂

[void furnace]

Hello all. New to ILV and discord and even crypto when I stumbled across Illuvium recently. I am looking for some guidance to get my money into my Metamask wallet with minimal fees. I plan to use my Crypto.com account to move assets to MM, but the last time I transfered ILV token they took .04 in fees 😳. I have seen that you can buy BNB, transfer that to MM and then convert BNB->ETH....does that save anything? Is there a better way to lower fees? Thanks for any help

[cunning perch]

Hey. Be careful about other side chains. ILV is only operational on ETH mainnet as it is an ERC-20 token and there will always be fees . So do not use BNB or BSC or Matic or any other sidechain for it

[real nebula]

I discovered that debank still works, so I switched to that for now.

[void furnace]

@cunning perch I don't want to buy ILV with BNB. As my post states, I am trying to move funds from crypto.com wallet to Metamask and looking for the lowest fees in order to do that. Since MM can swap BNB to ETH, I have seen people say to buy BNB in the other wallet and withdraw to MM, then swap it for ETH

[cunning perch]

well I would assume if you send BNB to MM, your MM needs to be on BSC network. So you can't swap it to ILV then. Besides, swapping Any token with ILV you have to use Sushi which would still cost you tons of gas. I would say the best way is to buy on a CEX like Binance and just send ILV to you MM on ETH mainnet to be safe.

[dim dock]

If you stake for 1 year and you only claim your rewards after 1 year. Do you have to wait another year (2 years in total) to receive your rewards due to the vesting period?

[cunning perch]

yes. Also, your rewards will generate rewards and again you can claim and receive them one year later and repeat. ILV rewards will always have a 1-year-vesting period regardless of how long you have staked your tokens for

[dim dock]

The rewards on the rewards and repeat… that sounds like an infinite stream of money 😍

[cunning perch]

well. ofc. after claiming, your rewards will be locked for one year while generating more rewards, so you will always have pending rewards even after you claim

[dim dock]

And what is the best interval to claim your rewards to not pay too much gas fees but also don’t miss on the compounding effect of the rewards?

[craggy field]

There is actually acalculator in the pinned messages

[dim dock]

Ah Yes, the excel file?

[craggy field]

The one from Cooper almost all the way to the bottom of the messages

[cunning perch]

there are calculators pinned that can help you or you can claim when gas = 1% (or whatever percentage you are comfortable with) of your pending rewards value in $

[brazen oyster]

So i understand roughly staking with ILV vs SLP but anyone got an in depth YT that can link me to that elaborates more on one or the other?
I currently have .24 eth in my wallet and looking to spend 10k right now onto ILV, but not sure if I should do it all through ILV staking or getting a balance of ETH and ILV for SLP
Also this would be my first time doing a transaction with gas involved... i know its high right now but with ILV at a dip its worth no?
If anyone has the time right now I don't mind getting on a quick VC and getting some knowledge dropped on me 😂

[dim dock]

Thanks guys!

[cunning perch]

you can watch https://www.youtube.com/watch?v=C6YugU4zZr4 and I believe someone sent you another Vid from Deraji in #💰〕token

[craggy field]

I could Dm you. Im not good with VC. Dont have a headset :/ first thing ill buy with any revdis i make!

[brazen oyster]

@craggy field sure thing! My DMs should be set on open

[cunning perch]

watch out for scams though. You literally asked for them 🙂

[dim dock]

What to fill in in the box APY % for ILV pool at token weight 2? The APY is now 41% so I fill in 82%? Or is this a stupid question 😄

[brazen oyster]

😂 thanks for the heads up

[craggy field]

Yeah scams are scary.

[clear cape]

The token weight already accounts for the 41% APY, so its 41%

[dim dock]

So I fill in 2 times 41% in the boxes APY% and APY% at token weight 2?

[ancient ginkgo]

Hi all, I’m trying to stake my ilv. Trying to approve my meta mask and it’s in the queue which cost gas. But it’s not processing. Have tried a few times. Does this charge me eth for each try?

[trail sail]

NFA but apy is > 10% and unstaked you'll miss out on the first revdis event (land sale)

[cunning perch]

probably need to update your browser/wallet or clear cache, or if nothing happened change your browser. And if using COld wallets, update them too and make sure data contract is on

[dim dock]

Had the same problem in Google Chrome, worked in Firefox

[ancient ginkgo]

Yeah I’m using chrome , have tried a few times so have I lost that eth?

[cunning perch]

If nothing has gone through then probably no. Try using FireFox

[ancient ginkgo]

Ah ok , was sure if it cost per transaction or just when it’s completed

[cunning perch]

100% a scam

had to delete it. please don't send them in public channels

[soft vessel]

so i've got scamed

[cunning perch]

This is the website https://staking.illuvium.io/staking/core

with a dot between staking and illuvium

[soft vessel]

if i connected my wallet to fake website, does it mean they can steel my funds later and the wallet is cocompromised?

[dim dock]

I cancelled the transactions and did not lose any ether. Only when the transaction completed I paid the gas

[cunning perch]

that is probable. If they have accessed it, then it might be compromised.

[ancient ginkgo]

Does it cost gas to cancel? Cause it comes up with the gas fees again

[echo quartz]

you make a good point, I'm very unfamiliar with how much revdis people will get though

[cunning perch]

RevDis = the amount of ETH used in ILV ecosystem 100% of which will be used to buy back ILV from the market and distributed to the token stakers....so....

[tulip plank]

Can confirm learned the hard way I got ILV stocked in Metamask and Aavegotchi as well as I have swpped them from polygon to ERC-20 now I am having fun to get them off without paying crazy fees, I guess they are in there until ETH 20.

[echo quartz]

anyone done any calculations on how much people would get per 1 ilv they're holding? per like $100k spent

[cunning perch]

for revdis you can watch https://www.youtube.com/watch?v=aB69710B21c&t=122s

[echo quartz]

okay thx, btw whats your guys cheapest ways on buying ILV

[dim dock]

I also freaked out the first time I saw those ‘cancellation costs’ but in the end I didn’t had to pay that gas fee that pops up

[cunning perch]

Binance, then send to MM 🙂

[ancient ginkgo]

Oh ok yeah I’m thinking did I get charged twice. So I have like 5 queue transactions

[echo quartz]

I see, I messed up exchanging on sushiswap lol

[cyan raven]

so I got 5.25 ILV from the pre-ILV way back and then just used normal staking instead of SLP back in March or whenever staking first came out. did I miss out on like ~$20k in gains by not using SLP or is my math wrong? I need to know how sad to be

[echo quartz]

lol!

[brisk surge]

Hi! I’m new. I invested in illuvium and I cannot see my investments on zapper.fi today

[trail sail]

Not sad at all, you got into an insane project super early 🙂

[cyan raven]

no ragrets

[brisk surge]

Is anyone else having these problems?

[trail sail]

But probably a lot LOL

[clear cape]

Probably a lot more than 20k, not sure on the figure though...dont think you would want to know either

[cyan raven]

spain without the s

[echo quartz]

would it be a bad idea to deposit eth to say binance and then buy ILV on there? To avoid gas lol

[gloomy gazelle]

That is strange. I’ve seen mine there in the past.

[trail sail]

Buying on an exchange will have a small transaction fee but then you'll still need to pay to get it into your wallet and again to stake. Gas isn't really avoidable unless you just hold tokens in your exchange wallet

[echo quartz]

but withdrawing ILV to my wallet has to be far cheaper than exchanging eth-ilv on sushiswap right?

im a bit of a crypto noob but as I've understood it other coins don't really cost that much to move as eth

[trail sail]

Should be cheaper than swapping. Not sure, I never buy tokens on sushi

[mild kindle]

thats right

[brisk surge]

I’m getting it sorted now hopefully

[trail sail]

Anything on the ETH blockchain will cost ETH gas to move. including ILV
If you were to move something like XRP it would be MUCH cheaper because of the way it's set up.
I use crypto.com and move from the app to the exchange in CRO which is their inhouse token, then sell to USDT, buy ILV.
Binance is shutting down service where I live end of year so had to liquidate

But still need to pay ETH gas to move ILV to my Metamask and again to stake

[echo quartz]

with sushi I have to pay eth gas once when exchanging
How much eth gas do you pay when taking out ILV (roughly)?

[trail sail]

like 55 USD? Approx the same as moving ETH. But the actual buying costs me 0.36%

[echo quartz]

at what gwei? Because 55 is really cheap nowadays lol

[trail sail]

like middle of the night sunday gwei. I don't know, I try not to pay too much attention or I go crazy

[echo quartz]

lol yeah weekends are pretty chill, trying to do anything during the week is driving me nuts

[trail sail]

I try to go off https://ethereumprice.org/gas/ to plan then verify what things are actually doing before I make txs

[echo quartz]

oh wow it was pretty good earlier today when I was busy

are you in ILV or SLP?

[trail sail]

SLP but been waiting to claim til V2 comes out in hopes gas is more efficient

[echo quartz]

my man, I was considering doing the same
That or claiming every 3 months lol

[trail sail]

I don't have enough in to need to claim every few days or whatever but still kinda hurts to miss out on compounding. I blame ETH tho

[burnt hill]

Can anyone tell when the lock period ends can i just lock again? Or do i need to claim first the pending rewards, also withdraw the LP tokens and lock again ?

[trail sail]

I thought you don't need to re-lock, they stay staked at your initial weight but you can start to remove. Could be v wrong though

[elder dawn]

don't think of it as missed compounding, think of it as buying future ILV with today's ETH. make sure your future compounding benefits are worth more than your transaction fees. Compounding hurts more to miss, but people are used to it being free, not costing $200+ in ETH every time you do it 🙂

[burnt hill]

this gas fee really hurts like crazy. My SLP tokens lock ended today and i had the idea that i just could lock again without need to withdraw, now it seems i need to claim my pending rewards first, then need to withdraw and afterwards lock again.. This isn't efficient at all 😦

[burnt hill]

and to do this i need 2000$ 😮

[echo quartz]

it would be interesting to know what some of the more knowledgable OG's would do if they were handed $3000, given the small room for mistakes for many newbies 👼

but I'm saying this from a POV where they know everything they know today and get to plan everything exactly as they want, not in a newbie friendly way
@elder dawn What would your move be?

[elder dawn]

the "small room for mistakes" scares me in your statement. any investing is risky, and i would ask what is the impact if your $3k goes to $0? If you were comfortable risking it for big returns, and were confident in Illuvium, I would most likely want to go into the SLP, waiting for as low a transaction fee as I could, and learn how to use Zapper.fi to minimize the transactions, and lock for 12 months. If having access to the $3k is critical, and you can't afford to lose it, i wouldn't invest it. I'm only in for money that I'm comfortable if it went to $0

[coarse dune]

Anyone here familliar with zapper.fi? its not showing my ilv stake anymore

[elder dawn]

i saw that this morning too - not sure what changed, but a few people have reported that today. your stake is still there

[coarse dune]

yeah i can see it on the ilv page im not concerned its gone i was just used to checking on zapper

[echo quartz]

of course, money that goes into crypto is pretty far from real money in my world. I expect not to see it in a good while (if at all)
How would you go about rewards? Hold & wait for the solution or claim infrequently?

[cunning perch]

Guys if someone with my name DMed you it's scam. Report him immediately

[elder dawn]

i'm claiming super infrequently now. check out my video on "gas optimized claiming." I use my calculator to estimate the value of 1 year's compounding rewards, and i don't let gas be more than 5% of that, 10% at the worst.

[trail sail]

Never even heard of zapper.fi until this post 😮

[echo quartz]

I've checked it out and it's great, thx for your inputs 🙂

[elder dawn]

it definitely saves some transaction fees. you can bundle transactions together - go straight from ETH to SLP. Still expensive, but better than ETH to ILV to SLP.

[trail sail]

Any suggestions on how to read up on it? Or is just the kind of thing I should mess around with and get an idea. Trying to read some of the welcome articles but haven't found much yet

[coarse dune]

same i didnt realize i could bundle stuff through zapper

[elder dawn]

try youtube. i think i watched a handful of videos before i started using it. honestly, i use it a lot on polygon. much safer to learn over there when transactions are $0.01

[burnt hill]

i'm really upset with ETH gas fee... it's just crazy to think that to lock SLP tokens again i need to spend over 2000$ + is just insane...

[coarse dune]

sunday usually has much cheaper gas fees, just keep an eye out and wait

[brisk surge]

I restaked SLP like 4 days ago for less than $200. I think you might be doing something wrong if youre calculating $2000

[trail sail]

So I could go ETH-SLP and it tries to optimize tx in the middle. Then I would need to stake manually still?

[elder dawn]

yeah, no way to avoid the last step to go directly into Illuvium staking.

[burnt hill]

Can we suggest or create an proposals to move the stacking part to polygon or any other l2 sollution ?

[trail sail]

And will it get the SLP into my MM somehow or do I need to do that? Sorry last one! I really appreciate the info.