🥩〕staking

[umbral river]

hey Deraji, is this referring to the claiming of ILV rewards or the initial staking in either of the core pools?

[elder dawn]

ETH will be the network of staking. At least IMX will be the in game transactions

[vernal needle]

hi there i am new to staking, if i provide a 1000$ worth of ILV and 1000$ of ETH in a liquidity pool, and then stake it, would i get 400% return on 2000$

[elder dawn]

You need to connect your wallet (presuming its metamask) to Zapper.fi to do any of this. all tokens (including SLP) are received by the wallet you connect

[elder dawn]

The Zapper.fi stuff is all about swapping tokens or pooling liquidity only. staking is all on the illuvium site directly. Zapper is just for people joining, not having ILV already or wanting to get in the liquidity pool

[burnt hill]

How low was the gas fee for you? and how you managed to pay only 200$? You need first to claim pending rewards, that in itself isn't lower then 180$ (transactions for ILV componding + SLP) usually, after you need to withdraw your SLP tokens that should be another 100$ if gas fee is low, then you need to lock again for another 100$. How did you all that for 200$ ?

[elder dawn]

yes, the APY is based on the full value of your SLP tokens, though note that APY changes frequently based on a variety of factors and isn't locked

[umbral river]

okay cheers for clarifying that, i use zapper to view my slp ratios but didn't know about the gas saving potenital for swaps/pooling

[brisk surge]

Claim ILV Pool- 0.0169 ETH
Withdraw+claim SLP- 0.02 ETH
Stake SLP- 0.0156 ETH

Total- .0525 ETH = $240

ETH was a little cheaper when I did it so it was just about $200 then.

(Edited one tx cost)

[burnt hill]

Was gwei around 50/60 ?

[brisk surge]

I think around 65 avg for the transactions.

When you do the Stake SLP transaction claim rewards as sILV if prompted because the amount will be tiny but claiming sILV means you wont have to clear the ILV pool again.

I pulled one of the wrong txns so it would actually be around $240 if you got the same gas as I did.

[burnt hill]

I see, so i should just claim ILV Pool alone, then withraw+claim slp. But yeah the problem is gwei right now, to claim only ILV pool is 195$ atm, and around 300$ for the SLP pool.

[brisk surge]

Yeah youre looking at more than double to do it right now.

Dont claim ILV alone. The withdraw SLP button will claim the ILV pool first txn, and claim and withdraw the SLP pool for the second.

[burnt hill]

The widraw SLP button for me is disable, "Before you can withdraw, you first have to claim your existing rewards in this pool. Because we compound your rewards into the ILV pool, if you select ILV, the rewards in that pool will first be claimed before claiming rewards from other pools. You will be asked to confirm these in your wallet.". I only have two options now, either claim everything manually on the rewards tab, like claim only the ILV pool and then test to see if i can withdraw from the vesting tab the SLP to withdraw the SLP rewards and the SLP tokens.

[trail sail]

Sorry I lied to your face - Just confirming I'd just need to have ETH in MM for the SLP transaction, no ILV necessary

[elder dawn]

lol, i'll let you get away with it this time... Yes, you need some token in your wallet to start, then zapper will move from that to SLP that will end up in the same wallet. ETH is probably easiest, but zapper enables you to go from a lot of tokens, like usdc and others.

[brisk surge]

So first you select ILV on that screen then when you push withdraw it should initiate 2 transactions in a row, you need to approve both of them thats the "Claim ILV Pool" and the "Withdraw+claim SLP" transactions.

If its greyed out thats because of some other problem.

[trail sail]

What a fkin lifehack

[brisk surge]

If you manually claim the rewards beforehand you will probably have to pay to claim once again when you try to withdraw.

[burnt hill]

Will try to figure what's bugging out. Thks mate 😉

[echo quartz]

can zapper be of any use if I already have some ILV?

[elder dawn]

its less useful if you're combining tokens. the best use case is if you have all your value in one token and going from that to pooled liquidity in one transaction. For example if you want to switch from ILV to SLP without selling half your ILV for ETH, that's useful. For all of this, you still need ETH for transaction fees

[echo quartz]

Aah I see thanks!

[delicate plaza]

I'm a bit lost still - what does using zapper help with? Reducing fees how?

[trail sail]

I still can't even find SLP on it hehe

[elder dawn]

it basically consolidates transactions. Typically to get in the SLP, you need to get ETH in your metamask, determine how much liquidity you want to add, figure out half of that in ILV, swap ETH for ILV, then add liquidity. Zapper lets you just say how much value in ETH you want to get in SLP, and it does the swaps and pooling in a single transaction.

my slp seems to be back on my zapper.fi dashboard now. all is right with the world.

[coarse dune]

hasnt for me yet but ill just give it time

[trail sail]

Should I be able to find it in dashboard - exchange - then search the contract address? There's an SLP token but its worth like $0.07

[elder dawn]

if you search SLP, you're getting Axie's Smooth Love Potion. Search ILV, or use the token contract address. If you're in "pool" in Zapper, you can search ILV, and you'll see the ILV/ETH pool. That's the one you want to use for staking. Should have a liquidity around $478 million

[trail sail]

Ahhh gotcha, I was searching the SLP address not ILV. Thanks a ton dude

[coarse dune]

appreciate you showing us this this should be pinned for future reference

[exotic saffron]

Hey guys anyone able to answer a question for me please? I know the staking rewards from the Sushi LP are locked are 12 months, but can you actually redeem those rewards and then stake them in the core pool to get compounding going? thanks 🙂

[wheat kestrel]

whenever you claim your rewards, they are automatically staked in the ILV core pool including while they are locked. You don't need to do anything extra.

[exotic saffron]

Oh ok! Thanks! So one tx to claim rewards will restake as well?

[sacred vigil]

is that legit or shouldnt i click that link?

[cyan rampart]

Dont click it. I removed it here so other people aren't clicking it.

!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.

[cyan rampart]

Please report whoever sent it to you in #🚨❗〕report-scammers

[sacred vigil]

ok

[prime pewter]

On the ILV website when I go to Staking > Core Pools > Connect Wallet... which option is used to connect my Metamask?

[severe comet]

Okay so I can claim them anytime while continue staking, The ILV rewards get locked for 12monthes from the moment I claim them? And in those 12monthes the locked rewards getting revdis right?

[void furnace]

Anyone know Arash?

[cyan rampart]

A lot of people have been impersonating the real Arash today, so if you're getting DMs from one of the scammers be careful.

Mods will never DM you first

[void furnace]

He just ripped me off

@cyan rampart he acted like he was helping me facilitate a move and then all my tokens transfered out

[cyan rampart]

That's usually how these scammers operate. That really sucks man 😦 Never trust anyone in crypto

[void furnace]

@cyan rampart so there is nothing to be done? Can't trace it back on the Blockchain?

[cyan rampart]

Usually not. We're not centralized so there's no ability to blacklist tokens or anything like that. You can try and track where he's moved your crypto to, but that won't get it back for you.

[void furnace]

🤮

[lucid skiff]

How do I unstable from a flash pool? Is it after I claim the rewards?

[cyan rampart]

Check the "Vesting" tab, it should be there.

[lucid skiff]

There it is

When claiming, is there a way to claim just one reward? I don’t like claiming multiple pools when only one has reached a level worth it.

[tardy igloo]

any one else got the probably scam ILV staking bot saying Stake ETH and get 1000% APY

[cyan rampart]

I think that's being added in staking v2 - the ability to choose which reward you're claiming.

[void furnace]

@cyan rampart any tips on where I should even start to do any of that? My head is spinning right now. I'm mad at myself as much as them

[cyan rampart]

Honestly, I don't think it's worth spending the time to check where it went, because unless you can identify the owner of the wallet , there's no recourse, and identifying random people by the wallets they use to scam can be impossible. If you are interested in checking it out, you can just find the transfers through Etherscan by searching for your wallet address and following where the tokens went.

[prime pewter]

On the ILV website when I go to Staking > Core Pools > Connect Wallet... which option is used to connect my Metamask?

None of the options are Metamask

[proud moth]

the top left

[grizzled kindle]

Hey there can anyone help me with knowing how withdrawing SLP works

[brisk surge]

yup, you just connect your wallet to sushiswap, go to liquidity and instead of add you go to remove and you should just be able to withdraw it there

[grizzled kindle]

Is there anyway to see how much eth and ILV I’d get out of it

[delicate cloak]

0.517 ETH & 2.088 ILV per SLP from what I can see

[fading prawn]

Does anyone know how the 1st Revdis will work from the Land Sales? Wondering if the DAO/Team will take a snapshot of our staking and WHEN that could be - (just trying to time buying more and having it stacked before the 1st revdis) - thanks!

[coral pike]

The land say may happen in Early January now as per the most recent interview but nothing set in stone. AFAIK Its be stated that land sales REVDIVs are going to be broken in to small bits and distributed over an unknown amount time to prevent
some people from trying to game the staking system who just jump in an out just looking for "quick profit" and to protect the REVDIVS for the people in it for the long run .

[elfin dove]

what is staking fee now approximately?

[fading prawn]

Thank you. Apologies if I gave off the impression of trying to make a quick buck. Not like that at all, just planning out my buys (supporter since June), was curious about timeframes.

[gloomy gazelle]

There’s a document pinned that has that info

[coral pike]

No need to apologize I should apologize if you interpreted that way I was simply trying to communicate the reasoning behind what someone told me as the justification to why they were going to break up the revdis from the land sales into small random bits .

[ornate cypress]

What happens to SLP when YF ends

[gilded wigeon]

guys question, this probably been ask before but when they distribute the revdis, will it be like the rewards where if u claim it it will be locked for 12months? but who's gonna want to sell and cash out when this revdis is live right? 🙂 but in any case just want to know

[gloomy gazelle]

Revdis will be unlocked when you claim it. It goes straight to your wallet just like when claiming sILV.

[sinful basin]

How to stake eth

[gilded wigeon]

that's awesome, but ill probably just gonna keep adding it on the pool 🙂

[sinful basin]

What wallet?

[hot scaffold]

any guides on whether we should just hold ILV vs stake it? e.g. how much ILV for it to be worth the gas fees, how to decide on split between ILV/sILV, etc

[gilded wigeon]

u can only stake ILV, u can stake eth in LP pool but u need to have same amount of ILV of it

[gloomy gazelle]

You can’t stake eth.

The DM is a scam

!staking works like 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

[sinful basin]

Oh what the fuck lol

[gilded wigeon]

and bro if someone Dm u to stake eth or whatever just dont fall for it

[gloomy gazelle]

Did you not see the #📣〕announcements

[sinful basin]

I thought I was illuvium group lol

[gilded wigeon]

those DM's are scams man

[hot scaffold]

do you gain/benefit from ILV price increases while you stake?

[gilded wigeon]

No one from Illuvium team will message u like that

[next ruin]

You own/stake the # of tokens, not the dollar amount, so yeah.

[gilded wigeon]

Yes plus rewards and 100% revdis

[gloomy gazelle]

Yes

If you stake you will be able to get the same amount of ILV back that you initially put in plus your rewards.

[gloomy gazelle]

https://youtu.be/C6YugU4zZr4 this video will be helpful

[hot scaffold]

thanks!!

last question: any way we can buy sILV directly on other chains to avoid gas fees? is the spread worth it?

[brisk surge]

you just look at how much your SLP is worth by finding out how much 1 SLP is, and then you divide by 2 and you will get that much of each coin, and then you can do the math from there to see the numbers of each token you would get

[gloomy gazelle]

sILV is just on mainnet

But sILV and ILV are not the same token. But even ILV is really just on mainnet as well

!buy

[woven ibex]

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

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

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

[gloomy gazelle]

!ilv

[woven ibex]

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

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

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

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

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

[gloomy gazelle]

!silv

[woven ibex]

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

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

[hot scaffold]

OH thanks sorry for the multiple noob qns

[ancient ginkgo]

Hi guys, trying to stake my ilv. Trying to approve to stake and transaction keeps being pending in MM. tried a few times and just canceled out the transactions and got charged like $35 to cancel for each!! Is that right help

[spiral stump]

Be patient. It’s not instant. Don’t try more than once and don’t cancel anything

[ancient ginkgo]

I left it over night

[spiral stump]

Did you do the recommended gas fee?

[ancient ginkgo]

If you don’t cancel do you not have a long list of queued transactions ?

[spiral stump]

If the gas fee you entered the transaction at is too low it will take a long time to process or drop. If you try and do multiple instances of the same transaction it will also cause issues

[ancient ginkgo]

Ok well that’s shit, I tried with recommended like 5 times. And now cancelled the 5 coating like $200 usd to cancel :/. Finally in the staking and it’s another $181 to stake ..

[spiral stump]

Try on the weekends, lately I’ve noticed significantly lower fees versus weekdays

[ancient ginkgo]

So you don’t cancel pending transactions?

[gloomy gazelle]

https://metamask.zendesk.com/hc/en-us/articles/360015489251-How-to-speed-up-or-cancel-a-pending-transaction

[ancient ginkgo]

I don’t get it so how do you cancel transactions for no gas? Is it the custom nonce?

[gloomy gazelle]

It costs gas.

Next time don’t keep approving more transactions

[ancient ginkgo]

Ok well the first one didn’t work, so today I tried a few more times. So basically if you approve it costs and if it doesn’t go through you have to pay gas to cancel it? What happens if you leave the transaction pending?

[gloomy gazelle]

It will either process eventually or fail. Either way you pay gas.

Unless you don’t have enough eth to pay the gas

[ancient ginkgo]

But you wouldn’t need to pay for cancelling it tho right?

[gloomy gazelle]

Yeah you do

[ancient ginkgo]

So if the transaction fails or goes through you wouldn’t pay twice to cancel?

[gloomy gazelle]

But the cheapest way is to do method three as described on the article.

Just be careful about doing right.

[ancient ginkgo]

Ok thank you good to know about method 3 . I got done bad 😦

[gloomy gazelle]

Most transactions will have higher gwei limits than 21,000

But not the ones needed for method 3.

[ancient ginkgo]

Dam that’s a tough lesson , $200 in cancelling fees lol

[trim narwhal]

guys is the eth 1000% staking on illuvium legit?

[boreal cape]

Nope! Read #📣〕announcements

[cerulean sparrow]

I had a transaction hung up in my wallet. I put too low GWEI and then tried to speed up twice. Then I went and bought other stuff and it still said pending. Eventually I didn’t have enough ETH left, days later still not failed. So I just reset my transaction list and it went away lol!

[gloomy gazelle]

!staking there is only one place to officially stake. The website in that DM is a scam site. It’s not the same.

[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

[unkempt rapids]

hi! guys, bought an ILV thru binance and would like to withdraw and stake, ETH would be the right network to transfer to my meta right? thanks ..newbie here 🙂

[raven horizon]

Yep youre right

[unkempt rapids]

thanks

[queen grove]

I've got Sushi/ILV SLP in my Metamask wallet. But it's not showing up to stake on the website. Anybody know what this is?

[brisk surge]

This was an issue earlier for people on zapper.fi have you checked again?

[queen grove]

Not sure what zapper is. I'm trying it right now. Clearing caches. Restarting browser. etc.

[brisk surge]

Yea I would try that and I just checked and it worked for me.

[queen grove]

Oh shit. It's not Sushi/ILV is it?

It's ILV/ETH right?

[cunning perch]

Yes SLP = ETH + ILV

[weak notch]

When the ILV rewards pool is depleted from being distributed in staking rewards, then there won't be 12 month vesting anymore from claiming ILV right?

[cunning perch]

When all the rewards have been vested it means YF has ended and there won't be any rewards to claim. Then you can stake to get RevDis (or just keep your tokens staked)

[weak notch]

cos I did LP pool staking, just claimed 2 ILV now those are locked for 365 days, but it is also generating more ILV, when I claim those rewards, its then subject to another 12 months right? I'm just not sure at what point will I stop being bound by 365 days lock from claiming?

[cunning perch]

YF ends in 3 years. So the last day on the 3rd year you will still have unclaimed rewards. After claiming it, you can withdraw it one year later. So all in all, you need 4 years to have fully vested ILVs (roughly)

[static rain]

Hi Guys, On the Dashboard I see that my balance is 1.00 ILV does that mean that I'm staking 1. ILV otherwise how to know that I'm staking ... Thanks! 👍

[sonic wolf]

Heya guys

[cunning perch]

On Dash you would be the amount of Staked ILV, pending rewards, amouylnt of sILV and the ILV you have in your wallet

[sonic wolf]

is it real that staking 2k ILV + ETH for max multiplier is same as staking 40,000 ILV?

[cunning perch]

Quite right I suppose, both are valued about $4m, but SLP gets tons more rewards than ILV and if continues that way, your $2m ILV in SLP would be way more than the $4m you have in ILV pool

You are talking big numbers 😄

[sonic wolf]

damn, thats quite a difference

[cunning perch]

That reward distribution would be huuuuuuuge for SLP. I'm gonna have nightmares tonight haha

Hahaha he should know better who he's trying to scam haha 😄

@mint cave can we have a ban here? Someone tried to pull one on SM 😄

[sonic wolf]

but still SLP staker only get RevDis proporional to 2,000 ILV, as opposed to other guys who get RevDis for 40,000 ILV?

[cunning perch]

Yeah ofc, but the difference is 0.8 to 0.2. Ofc if you staked early you would have made the equivalent on ILV amounts if not more. So you would be massively in profit

[sonic wolf]

i thought 0.8 and 0.2 used to calculate inflationary rewards, not in RevDis?

[static rain]

@cunning perch thank you, but you didn't answer my question. Is what I see on the balance of dash staked or not? how do I know . I 've a Success status on the transaction hash . The tansaction action is Approved ILV for trade on Illuvium: ILV Core Pool

[cunning perch]

No RevDis is another discussion. It just takes your token weight into consideration not pool weight

[sonic wolf]

lets say you stake 1000 ILV in each pool, what is the ration of Revenue Sharing?

[mint cave]

https://gfycat.com/playfulimpeccablegalapagostortoise

[sonic wolf]

both pools get equal RevDis?

[cunning perch]

I'd say it takes the token wight and compares it to other ppl's weights and then distributes it. But the pool weight is the same for all. In each pool the weight of the token is taken into accout.

[sonic wolf]

so RevDis is equally devided among all ILV holders (ILV x Multiplier), ignoring pools

[cunning perch]

If you have approved, you still haven't staked. You should see 4 tabs in Dash. Pending rewards (happen after you stake), staked ILV (after you stake), token balance (ILV in your wallet) and sILV balance (sILV in your wallet)

[cunning perch]

yeah so if you have locked for one year, you get 2X token weight and RevDis takes that into account not your 0.8 share of the pool.

[sonic wolf]

so 0.8 share of the pool also play role? so pool weight do differ?

[cunning perch]

That's for YF rewards 🙂

[sonic wolf]

nvm, I missed "not" before "your 0.8", sorry, need sleep

[cunning perch]

Haha 😄 sleep well my friend

[static rain]

@cunning perch ah ok. I see 3 tabs staked ILV didn't appear.

[cunning perch]

So if you see your ILV under ILV balance, you still haven't staked.

[static rain]

ok

[cunning perch]

Thx Jeff. Sorry for thanking with delay 🙂

[static rain]

Gas fee is very high 🤔

[cunning perch]

Yeah. Weekend is around the corner. Might see lower then

[static rain]

Yes! thanks

What do sugges staking ILV or Sushi LP. I'm not gamer Just want to stake and provide liquidity to the project?

[cunning perch]

I suggest watching vids pinned in the channel and Sormi and Vetemor vids in #🎨〕community-content to get a good idea what they are and read the following docs to help you decide

!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

[static rain]

Ok thanks I will 👍👍

[surreal sierra]

Can we get sushi lp apy to 420.69

[lethal shuttle]

I have one staking question before I hop in:

Staking it for let's say 12 months, will mean I get more ILV.

But, do I also get more $sILV and does that have to wait 12 months as well or can I spend that whenever I want in game?

[surreal sierra]

sILV you can claim and use in game right away

[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.

[lethal shuttle]

Okay so the tokens I purchase and stake are locked but the sILV can be spend at will (as long as I'm good with the gas fees).

Sounds okay!

[vital kayak]

Due to the land delay, I’m about to cash out 13 sILP for $5,000 and stake 2 ILV for .8 more SLP and start again collecting sILP rewards for January.
TALK ME OUT OF IT if it’s a bad idea

[cunning perch]

Well we def need V2 first. Believe me. It will pump the price in itself haha

[vital kayak]

Pump what price? sILV?

Like it’s not even HALF atm it’s $400/sILV

[lethal shuttle]

The Sushi ETH-ILV pool that pays 400% - is this 400% in ILV? And: how long will that last? Does it also give you sILV ?

[cunning perch]

Ah no. I meant ILV 😄

Though sILV might follow who knows

[pale trellis]

It’s optional to claim as either ILV or sILV

[lethal shuttle]

And if you claim as ILV, you can after that claim sILV right?

[pale trellis]

Well further rewards if they build up again.

[lethal shuttle]

Okay starting to grasp it - and, the 400% , how long will that last? Any set dates for lowering that amount?

[pale trellis]

3 years in total. It’s already maybe 1/3 into the first year @cunning perch correct me if I’m wrong.

[lethal shuttle]

3 years 400%, with almost 2,5 years to go.

You son of a bitch. I'm in!

[vital kayak]

Well then cashing out sILV for more SLP with lower ILV price right now would be good then, right?

[pale trellis]

Though the rewards won’t always be 400%ish for SLP rewards go down each fortnight and also when more people stake.

[cunning perch]

To have fully vested tokens after YF ends would mean 4 years from the beginning of YF

[cunning perch]

Well, I personally have met my target and will not claim anymore sILV and not now when it's like $400 and not even half. It wouldn't give me that much to be worth the gas I need to pay for claims. That is unless V2 comes out fast. 🤷‍♂️

[pale trellis]

Thanks, can you dig up the image for the rate of APY over that time?

[lethal shuttle]

Will be voting for you guys on the Tokemak vote for core!

[cunning perch]

I'm literally on my phone walking in the lobby 😄

[pale trellis]

All good.

[shy pendant]

I have a question if anyone can help

[pale trellis]

I’m ready

[shy pendant]

If I stake in the ilv pool and then also stake in the slp pool at roughly the same time and no rewards earned in that time will I have to claim the rewards to stake in the 2nd pool?

[pale trellis]

Great question. I think you will have to claim.

[shy pendant]

Even if there's nothing to claim?

[pale trellis]

I know that doesn’t sound right but you may have 0.0001 ILV there when you go to stake SLP and therefore have to claim.

I could be wrong, it’s a somewhat educated guess.

[shy pendant]

Lol ok thanks anyway trying decide whether stake in 1 pool or the other or do abit in each

[pale trellis]

Nice move though I staked ILV and SLP.

[shy pendant]

Did u do it at 2 differant times?

[pale trellis]

Get another opinion on your question though.

[pale trellis]

Yeah I first staked ILV and then SLP a week later and then more SLP and then even more SLP haha

[shy pendant]

Anyone u suggest me to ask?

[pale trellis]

@manic spindle hey are you free for a question?

[manic spindle]

What's up? Can't promise I know 😄

[pale trellis]

Haha thanks anyway. Staking ILV and then SLP straight up one after the other, will you have to claim any minimal rewards when staking the 2nd?

My thoughts were that the rewards start instantly. You may have 0.0001 ILV in rewards. Is there a minimum threshold before being forced to claim when staking again?

[manic spindle]

The first answer in my head was "yes" but I am not 100% sure anymore, sorry. You definitively have to claim rewards when staking something new and I think, since LP staking requires both pool rewards to be claimed, this would apply here too. Not 100% sure though. Rewards claiming when staking something is done WITHIN the same staking transaction though, not separately via "rewards". Maybe @mint cave can say more here with certainty 🙂

[vital kayak]

Hun I really need your input plz 🙏🏻 “Due to the land delay, I’m about to cash out 13 sILP for $5,000 and stake 2 ILV for .8 more SLP and start again collecting sILP rewards for January.
TALK ME OUT OF IT if it’s a bad idea

[mint cave]

unfortunately i can only guess here as I cannot recall the exact interactions when i've added SLP to a wallet that only has a single stake previously.

the SLP addition may have to claim the very small amount of ILV rewards from the single pool

this is a little confusing as the single pool itself does not allow you to claim under 0.01 pending rewards. however the SLP claim(and also very likely when you add new SLP) forces a claim regardless of the amount.

[manic spindle]

I think you're talking about 13 sILV right? It's a tough one, to be honest. If the APY of the LP pool holds, it could be good, but 6-8 weeks (IF that's the new land sale estimate) is only so much as well and with swap fees, deposit fees, claim fees, ... it doesn't come at 0 costs either. Not saying it couldn't be profitable, personally though, I will hold on to my sILV and just wait for the sale to come. Especially since Illuvitar sale MIGHT come before land now and can also be paid for with sILV.

[shy pendant]

@mint cave if I staked the slp 1st then the ilv would it force a claim then?

[hot lynx]

Hi everyone waz ape 👀 👍🏻

[vital kayak]

THANK YOU so much! And yes, one of my YouTuber friends I converted just did an interview with Kieran where he leaked the land updates, WHICH IM GLAD we are waiting til after the holidays as to not affect family gift season AND immutable is experiencing growing pains with migrating VeVe and this gives time to get Illuvium implemented properly on L2 https://youtu.be/TboZfw_qCUw

[manic spindle]

Thanks, I did see most of it already and heard Kieran talk about the sale. He didn't 100% guarantee a sale early next year though. There could always still be the possibility for a December sale from the way I interpreted his words, so that's why I personally will remain cautious and ready with my sILV 🙂

[mint cave]

i am not certain, but if i were single staking and SLP staking i suppose i would stake the SLP first.

[vital kayak]

The last 20 mins is the most revealing from the interview just let you know 😉

[shy pendant]

Thanks I'll think about it for now probably decide on Sunday what I'm doing

[vital kayak]

He says they ready for dec 15 but gonna postpone

[echo quartz]

wait do I have to pay new transaction fees if I change my pc?

I thought the "permission" costs were linked to my wallet?

[hot lynx]

Hey @mint cave how you doing mate 👍🏻 great
The open mic chat the other day was Great and covered #🥩〕staking ++

[mint cave]

i'm doing well! yourself? was certainly a good impromptu AMA 😅

[hot lynx]

Awsome I am more bullish each day on ILV and it's both very exciting and challenging as I want to play . Plus #🥩〕staking more SLP .. gas ⛽ 😭

[mint cave]

https://gfycat.com/relievedpowerlessburro

[hot lynx]

Bring it on , ye ILV is kinda like her 🤣 a tease and 🔥

I am texting on DS and listing to Kieran on you tube taking about game design recruitment of 100's of people ... Wow and them getting them into #🥩〕staking and being paid in Crypto wow 🚀

Drifting off and on #🥩〕staking 🤣🤣

ETH maxi same as me 🚀🚀🚀

[frank cairn]

I have an important announcement to make. The slp pool is exactly at 420.69%. If you are not in already this is the time

[hot lynx]

I got in at 694.20% 👍🏻 🤣 🚀

[frank cairn]

that's much worse my friend. Only do things on meme numbers like 69 and 420. success guaranteed

[prisma pagoda]

Is it possible to stake eth?

[frank cairn]

eth plus ilv 50/50

[frank cairn]

thats more like it lol

[hallow gale]

How do we stake ETH ?

[cunning perch]

You don't. You can only stake ILV. Read below

[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

[silent cedar]

You can stake Sushi LP tokens which are bought with 50/50 ETH and ILV

Def read all the links Arash gave above before you decide what to do though.

[wind walrus]

ILV is on sale right now, 7% discount

[echo quartz]

do I have to pay this every time I switch device?

and I guess that goes with the staking fee as well then?

[wind walrus]

I'm not sure, hopefully somebody else can answer. I have one dedicated computer I use for all my Crypto

[echo quartz]

yeah I should've brought it with me

if I have more ETH than ILV and want to stake SLP, can zapper put it into the liquidity pool in 1 transaction? Or is there no way around exchanging the eth to ilv and then buying into the pool

[wind walrus]

If you already have ILV then Sushi will match what you have in ETH and create SLP

[echo quartz]

Yeah I know but my eth is a bit more than my ILV

50% more to be precise

[wind walrus]

Sushi will only use what it needs to Match your ILV. So if you just want to match what you have you are fine. If you want to add more ILV to use all the ETH you have you will need to swap and pay fees to get that ILV

[echo quartz]

yeah thanks 🙂

[eager fractal]

is it just me or has the APY bumped up slightly since maybe a week or 2 back?
Recall SLP pool being close to 400% flat but i might be wrong

[echo quartz]

it definitely has gone up

[raven hawk]

You do not, only once per wallet/pool

[echo quartz]

ty

[raven hawk]

You can stake in flash pools as well

[craggy field]

But there is no flash pool active right now right?

[cunning perch]

not ETH though 🙂 and no flash poon is active atm

[raven hawk]

You are right, seems it's all completed.

[steady trellis]

Especially today for ilv, right after the announce of land delay there are more than 15k ilv that were unstaked. For SLP it’s a trend for the past few days.

[craggy field]

SLP is partly Eth... just saying

[cunning perch]

yeah not for flash pool 🙂

[eager fractal]

Interesting.. thanks mate!

[echo quartz]

what are the odds of a transaction set to 85 gwei failing right now?

[delicate cloak]

Don't change the base price. If you don't change the base price, I'm pretty sure it'll just stay in limbo until it gets that low. Someone correct me if I'm wrong please.

[echo quartz]

base price as in gas limit right?
That's how I understood it as well

[delicate cloak]

Yeah leave gas limit. Max fee is what you change. I've had stuff sit in limbo for days and heard about they can be pending for weeks.

[echo quartz]

I see, when is it that these transactions fail?

[delicate cloak]

I've not had one fail. My understanding is usually when you adjust the base fee.

Can happen due to slippage on DEXs too, but when it comes to staking, that's not a variable.

There's also a more advanced technique of editing the nonce if the transaction is stuck pending to speed it up.

https://cryptocurrencyfacts.com/failed-transactions-on-ethereum/

[echo quartz]

I see thanks, I assume its the same for when you exchange coins/add to a liquidity pool?
Also what GWEI do you usually put nowadays?

[delicate cloak]

I don't just have a number I put. I look at the current rate and what I think is achievable. And I usually wait to do transactions at the weekend, usually Sunday.

South of 100 GWEI is good these days, but I try get in the 60-80 range. We were under 80 last weekend, hope the same this weekend as I got some stuff to do

[echo quartz]

yeah, it was around 85 for like 20 min when I woke up today but I didn't manage to get a lot done lol

[delicate cloak]

I'd just wait till Sunday, you don't really want to do it when its fluctuating wildly

[echo quartz]

probably the best shot yeah, but if it's pending with say 85 gwei and it hits a point like this for example tomorrow (it seems to be dipping around this time every day)
Then it should just go through normally right?

[delicate cloak]

I suggest doing some reading about how the Ethereum mainnet works. Basically, when your transaction goes in the queue, it gets a place in line. How long you are in line is irrelevant. What matter is what you're willing to pay. So if people keep offering more money, they get to cut in front of you. Only if you get to the front of the line and no one has cut in front, will your transaction get processed.

[echo quartz]

there's a lot of new stuff for me but yeah I'm not expecting to have priority due to being in "queue" but rather avoid having to keep an eye on gas prices 24/7 and have my transaction go through once it hits my desired gwei. If adjusting the gwei in transactions can do that for me I'll be more than happy

[delicate cloak]

Its one of those things you have to learn by doing I find. You'll probably have some expensive lessons, that's the crypto life. The more reading you do and videos you watch prior to doing something, the less mistakes you will make.

MetaMask is the most commonly used web wallet for ETH (or even some other blockchains) so make sure to familiarise yourself with it's functionality.

[echo quartz]

expensive lessons mmm lovely

[delicate cloak]

Lol like I said, the more you study first, the less mistakes. But they're inevitable. One of my first BTC transactions, I got to learn about network fees. Nothing like paying $50 to move $400 lol

Although that honestly seems tame now compared to ETH prices.

[echo quartz]

lol yep it's actually insane. I just wanna get my staking done so I can be without gas headaches for a while

[coral pike]

well until you claim your rewards that is just fyi : it costs 1x gas to claim if you are in the ILV only pool 2x gas if you are in the SLP pool

[echo quartz]

yeah I've heard the rumours. I plan on letting the rewards sit for a good while to make it worth claiming or seeing what the eth v2 solution will be

[unreal iron]

Does anyone know if staking will be moving to immutable x?

[cunning perch]

IMX will be for the game. Staking will be on ETH. V2 will be more gas-efficient and later ETH 2.0 and the bear market will drop the gas to cents (probably)

[echo quartz]

if a transaction hasn't reached a block yet, will it be a free cancel?

seems it costs gas xD

[delicate cloak]

I think some of the gas will be lost.

[echo quartz]

yea just gonna ride it out

[pure cove]

Is it possible to stake ILV without these big eth fees?

[final bear]

Hello I'm new to Sushi Swap, I'd like to add to sushi liquidity, is it the same as UNI? Just ETH/ILV pair?

I just buy equal parts of each correct?

[echo quartz]

I dont think so :c

[echo quartz]

thats what I did, there's a link to it on the staking place on illuvium

[final bear]

Cool yes I see the link but in the ama I just saw that inspired me to stake, there was mention of ising chainlink to stake etc... so wasnt sure if I was actually meant to stake Sushi LOL

Thank you!

[delicate cloak]

Everyone new: you have to use ETH to stake. It's not on another blockchain, it's not on a L2 and it's not going to be for the foreseeable future. Yes gas sucks, but we have to live with it now. There is no alternative.

[final bear]

I'm happy to pay gas, specially since burn resolution and especially with the great rewards on this pool 🙂

If your new and hate gas I mentally got over it by thinking of it as a decentralized tax that benefits all eth holders with deflation 🙂

[silent cedar]

Nice

[echo quartz]

you must be rich 😛

[delicate cloak]

Man, that is a great positive outlook. I like it!

[delicate cloak]

Or just making the most of a shitty situation. Why complain about something out of your control? I like the outlook and way of thinking.

[echo quartz]

yeah but for a lot of people being "happy" to pay gas would end up eating up 50% of their capital right now 😛

[echo quartz]

assuming you dont care for what gas prices are

[hoary oar]

!contract

[woven ibex]

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

[delicate plaza]

Is there any way to shit your stake pool to a new address? Just got a hardware wallet and want to stake from that but already have some locked stake on my current hot wallet. If I start taking on my hardware I'll have to be paying two separate withdrawal gas fees for both wallets if I can't migrate over

[delicate cloak]

You can import your existing wallet to the hardware wallet by recovering the seed phrase, no?

[earnest torrent]

Does anyone know if it’s possible to stake a fraction of one SLP token?

[delicate plaza]

Yeap can move my wallet onto the hardware, but if my wallet was at all compromised somehow prior to this move they would still be able to access my crypto with the seed phrase right?

[next ruin]

Yep, just make sure you are comfortable that it will be enough to justify your gas.

[delicate cloak]

Yes, this is true. But in that case, your locked up stake is kinda screwed anyway. I think the best thing you could do is recover the wallet with locked stake, delete any trace of the wallet from any hot devices. Then when the locked period ends migrate it all to a new wallet. Probably a bit overkill though. But it really depends on your stake value and comfort levels.

[pastel wing]

hey if you stake for maximum period how often can you get rewards ? is it 1 time after staking is over or is it daily monthly ?

[cunning perch]

you get rewards every 15 secs (every block) and can claim whenever you have enough to pay for gas. ILV rewards will get locked for one year AFTER the claim, sILV will be released immediately. You can choose either for each claim

[pastel wing]

thanks that realy helped to understand. So what happens if i stake and wait how does that effect my rewards ?

[cunning perch]

No. If you don't claim, you will never have your rewards and they will not compound as they need to start their one-year-vesting AFTER the claim. Until you claim, this vesting period will not initiate

[pastel wing]

Thanks. So basically it's stake > wait 15s for rewards > claim it then you all set up for 1 year vesting period ?

[next ruin]

You'll have to pay gas for each time you claim. So, ideally you wait until you have a big enough pending reward to make it make financial sense.

[cunning perch]

Of no no no. Gas will rekt you. wait till you have enough. what @next ruin said

[pulsar sluice]

hi, super new to this could someone lead me to a document explaining or explain to me the main difference between flash and core pools? also in terms of one year ROI what staking option would be best? thank you!

[cunning perch]

!read can help you some parts but Flash pool is for otehr foreign tokens like LINK, SNX, etc and currently inactive while Core pool is for ILV or SLP (Sushi Liquidity Pool token)

[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

[pastel wing]

So once i stake i can wait for 1 year to have huge reward then claim it ?

[pulsar sluice]

awesome thank ill look into it

[next ruin]

You could. While it is pending it earns no additional rewards and if you claim ILV it will be locked (earning rewards / RevDis) for one year from the moment you claim.

[pastel wing]

what is pending ?

[next ruin]

The rewards you have built up but not claimed yet (you'll be able to see it on your staking dashboard).

[livid light]

anyone have a calc that can determine if its better to claim in ILV or claim sILV then sell to restake in the SLP pool?

I have been doing it that way and really want to see if it is worth all the gas... lol

[cunning perch]

I would say probably not now as sILV is 1/3 of the ILV price and gas so high atm. 🤷‍♂️

[livid light]

I claimed 25 sILV tokens and sold for $525 yesterday to recycle into the SLP pool seems like a good idea lol

[clear cape]

woah new pic

[trail sail]

Must be like $500 in gas? But getting 10x return so probably worth. For sure with 25 sILV

[livid light]

I figured the such was saving for land and with the 45-60 day delay rolling more in seemed to make sense

[cunning perch]

I got new fans too #🚨❗〕report-scammers message

[livid light]

41% return vs 417% in the pools

[clear cape]

Lol fuck me 😆

[cunning perch]

the spelling was a killer cuz they can't use my name anymore lol

[clear cape]

Hey i watch some of your youtube videos, great content man. Keep up the good work!

I would recommend making the background in your videos a bit more clear sometimes though, it can be a bit distracting to the eye

[clear cape]

they are evolving 🐌

[green sparrow]

"Airash"🤣 These scammers are gettin TOO creative

[broken herald]

Wut ETH staking?!!

[next ruin]

https://tenor.com/view/itsascam-scam-meme-itsafraud-itsahoax-gif-23353011

[broken herald]

Oh obviously

[olive jetty]

Damn these scammers. Sorry, I'm not special enough for Illuvium to message me personally. Lols

[cunning perch]

What do you need to know?

Well first you have to install and set-up your Ledger through Ledger Live. Then you have to update it and install ETH app on it. Then you have to connect it with MetaMask and MM will give you an MM-Ledger wallet address. Then you have to add SLP, ILV and sILV address manually and start sending your tokens there. Each time you wanna stake/claim/withdraw/transfer/swap/add/approve/sign you have to connect your devise manually.

MM has re-released WebHid so after the update you shouldn't have to use Ledger Live for each TX

Ab no worries. Just added a bit more 👆🙂

[split niche]

Did anyone else get a DM from Illuvium about staking?

[cunning perch]

All fake and scam

[split niche]

Obvi didn't click but wtf? Perfect just confirming.

[cunning perch]

No worries. Please send their full ID to #🚨❗〕report-scammers so leadmods can ban them

[hexed meadow]

They could have at least put a little more effort on their website, not just one menu working...

[fallow halo]

Is there going to be a “Withdraw All” button implemented in staking v2 to only be able to pay one fee for everything?

[clear cape]

yeah

[fallow halo]

Sweet

[cinder epoch]

is there an option on sushiswap to input the amount of SLP tokens I want and have it tell me how much eth and ILV i need to put in to get a certain amount of SLP tokens?

[brisk surge]

No but you can check what your SLP is worth in value to ILV and ETH on here https://app.apy.vision/

[prisma schooner]

ethplorer.io I can see my SLP value, It even shows my sILV

[cinder epoch]

hmm... so say i input 5 ILV and 1.22716 eth, sushiswap will then give me x amount of SLP tokens ?

[prisma schooner]

Wait, Zapper.io shows ALL of my ILV staking values

[brisk surge]

Yeah zapper.fi works as well

[prisma schooner]

Ty Tony, Zapper.fi not io

I have 1.8937 SLP total value is $9224

About $4,600 each

[delicate cloak]

I'm pretty sure you can only enter one value and it auto fills the other to the appropriate ratio

[kindred merlin]

Hi Stakers, I just made post in #870290845612507176 that is also related to staking. I hope some staking guys from in here will go over there and read it too 🙂

Continuing the discussion here..

[cyan rampart]

This is just my thoughts on it - Flash Pools are meant to provide publicity and get people who hold other crypto projects involved in Illuvium. I think taking rewards from Flash Pools to incentivize providing sILV liquidity would not increase the number of people aware of the project.

To my knowledge, sILV was never intended to be a tradable asset. sILV was meant to be a way for stakers to be able to play the game, the desire to purchase sILV for land sales is emergent behavior. I think if there's incentive to provide liquidity, such a pool will exist on its' own. People who might have incentive to set sILV/ETH LPs up are already able to do so. People who might have such incentive could be people with large stockpiles of sILV who want to sell that sILV to the market.

I don't think we need to provide an official LP and diminish other pools' staking incentives to do so. If there's a demand for a sILV/ETH LP, the community can set it up and maintain it.

A big part of why I think this is the case is because sILV is not required for any transaction. If any part of the tokenomics demanded to use of sILV, I'd feel differently, but as it is, ETH is still the primary currency in the Illuvium ecosystem, and can be used for ALL transactions. sILV is just a staking bonus that happens to be fiscally appealing at the present time.

[kindred merlin]

You have some valid points.
My reasoning for creating an "official" sILV pool, is that this, as you say: "emergent behavior" is mentioned a lot on youtube channels and in chat. And if a big part of our community uses these transactions, it would nice to have an official stance on this and a safe way for people to use this transaction. So some people don't end up using a pool with too little liquidity in it, or something like that.

[cyan rampart]

I'm a big believer in personal accountability. I think if someone on YouTube is shilling sILV buying, they should provide disclaimers about potential liquidity issues, or at least provide their community with the information necessary to do so safely.

I always point out that the sILV/ETH LP is unofficial, and that people should do their own research before purchasing sILV. At the end of the day, every person is responsible for their own safety and transactions in this space.

The official stance is that the sILV/ETH LP is unofficial, and people should take care before trying to drop large amounts of ETH into sILV, because they could easily get wrecked by low liquidity.

[brisk surge]

@cyan rampart @Arash | Illuvimod I recently withdraw slp from the staking pool, how do I liquidate it ...I can't find no liquidity on uniswap and sushi swap

[cyan rampart]

It's possible there's some other solution for providing a more stable sILV LP, I just don't think diminishing other staking rewards, even the Flash Pools, to do so is the correct approach. If there is no LP, sILV is only available to stakers, which is how the tokenomics were designed - I don't believe the intention was to provide every person who watched a YouTube video with double buying power for land sales.

[cyan rampart]

Withdraw Liquidity on Sushiswap.

[brisk surge]

Ok

[brisk surge]

Ok I click that what next

[cyan rampart]

I don't have an active SLP stake, but you should have an option to withdraw the liquidity for your SLP stake.

[brisk surge]

I'll connect my wallet and get back to you. Thank you 🫂

[cyan rampart]

You can also enter ETH + ILV as the liquidity options, and you should have 2 tabs "Add" or "Remove". That should work as well.

[undone siren]

Energiswap offering 301% APY currently on their NRG/ILV liquidity pool. I went ahead and threw in a bit, but someone willing to bridge a larger amount of ILV over to NRG could make out pretty well.

The 301% is paid out in NRG

[kindred merlin]

I get your point that it is a bad idea to tackle this issue with the rewards from the flash pool. I still think it could be a good idea with some % of the rewards, but I get that I might be a minority, and then there is no point in continuing to discuss it.

But I do think that it is a week sign for the Illuvium project, that sILV is so divergent from the ILV price.
I feel like it must be because there is a chance, that there will be too much sILV in circulation at the time of the land sale.
And that the land sale will result in zero revenue distribution because all purchases will be done in sILV (Because sILV never reaches parity with ILV, and therefore everybody switches to sILV before buying)
Personally I don't think this will happen, but the very big difference in sILV and ILV makes me a bit nervous, and my hope is that an official sILV pool, could help close the gap between sILV/ILV and alleviate my (and others?) anxiety about this, therefore bringing more trust into the project.

[cinder epoch]

if i stake now, how cumbersome would it be to unstake and stake into v2? any gas fees involved with that?

[cyan rampart]

It actually makes perfect sense that sILV's price is not equal to ILV's price. You literally can't spend sILV yet. At the current time, it's a worthless token, it will have value in-game and in the land sale when they are active, but ILV has a ton of utility that sILV does not, including being able to stake it for YF + revdis, voting power etc. Basically, ILV has uses now, sILV does not.

Couple that with the ability to claim staking rewards as sILV immediately (and sell them on the secondary market) and some risk adverse people are taking profits earlier than they would be able to do with a 12 month vesting period on ILV. There are a number of valid investment strategies involving claiming sILV and liquidating it, and the more people participate in that, the more the price of sILV on secondary markets will decrease.

An official LP making it easier and safer to purchase sILV will further incentivize people claiming sILV and liquidating it, and people buying sILV. In no way will this reduce the amount of sILV spent on the first land sale.

This last part is speculation, but when sILV has active use cases, we can expect the price to get closer to ILV's price on secondary markets. Until then, I'd expect to continue seeing heavy discounts on sILV as compared to ILV.

[cyan rampart]

There's likely a gas fee for the migration to v2, but AFAIK you wait until your current stake unlocks before migrating. So depending how long you intend to stake, it could be worth waiting, but if you're doing a 12 month stake, it'll be one extra txn in a year to migrate.

[kindred merlin]

You might be right.
But if sILV closes the gap to ILV by early January. that would be the easiest 300% gain...

[cinder epoch]

i see, so if i did a 12 month stake now in v1, these rewards will continue to cost gas when i claim them correct? can i stake in v1 now, and when v2 comes out can i stake again in v2?

[cyan rampart]

I think within a few months post launch, sILV will be within 80-95% of ILV's price, and remain in that range for quite a while. It should never hit parity on secondary markets, but it should get very close. Any gamer looking to strictly play the game would be interested in sILV at any discount from parity. OFC this is just my opinion.

[cyan rampart]

You should be able to have stakes active on V1 and V2 at the same time, yes. Claiming rewards will still cost gas - To my knowledge, v2 just streamlines the process so it costs less gas to stake/claim etc.

[kindred merlin]

Then sILV seems like a pretty good investment! 😄
In my eyes, the big difference signals insecurity about the future state of the project.
Don't get me wrong: I'm a Strong believer in Illuvium. But I just wish that the gap between ILV and sILV wasn't so suspicious. And my hope is that some % of this gap is due to insecurity about the current sILV pools. and if we made an official pool, the gap would close a bit. and I could personally relax a bit more (and buy more Illuvium)
Anyway. Now I've voiced my opinion, thanks for the feedback. I'll head to bed 🙂 zzZZzz

[vague thistle]

What is staking v2?

[cyan rampart]

The original IIP is pinned in this channel. Basically, gas improvements, functionality improvements and some groundwork for future systems.

Note that the IIP is being revised to meet community feedback.

[hoary oar]

!contract

[woven ibex]

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

[near bay]

im confused so why on uniswap is silv worth more but on sushiswap its less

[coral pike]

because its not official sILV was never meant to be traded its not "supposed" to be traded everything that happens is unofficial and not supported by the DAO. Any place it is traded do at your own risk. silv has no value official value outside the Iluvium ecosystem

[jaunty dew]

1000% APY on ETH?

[autumn cloak]

Scam. Don’t connect your wallet

[jaunty dew]

ah lol

[final bear]

If you do flexible staking in sushi do you still wait a year before getting your rewards?

[fringe gulch]

hey guys, have a question (checked pinned message but didnt seem to have answers):

If i have some ILV staked already, and just bought additional ILVs and want to stake them, is there a difference in total gas fees between:

1. claiming rewards -> stake rewards + recently bought tokens
2. stake recently bought tokens (pop up asks me to claim rewards) -> claim rewards -> stake tokens ... (? not sure how this process works)

[brisk surge]

do #2. If you claim manually before staking you may have to claim again through the staking transaction.

[fringe gulch]

got it, thank you!!

[brisk surge]

gwei is quite high right now though so you may want to try for lower gas another time.

[brisk surge]

Rewards, regardless of pool, vest for 1 year after they are claimed before you can withdraw them.

[final bear]

Cool thanks 🙂

[final bear]

So fluid stake means I can grab my illuvium but the rewards are locked for a year, might as well take the 400% for the year and lock em up 🙂

[brisk surge]

Yeah, flexible just means you can withdraw your initial investment whenever you want. I agree that the 400% seems like a good deal. Thats where I put all my money.

[knotty galleon]

What's a reasonable or good gas price? I see it says 167 on sushi rn - but not sure what is typical

[brisk surge]

100 is pretty good these days. I shoot for 60 but thats usually only on the weekends.

[knotty galleon]

Awesome. Thanks.

Question: So the whole staking process from start to finish for ILV would look something like:

• buy eth on coinbase
• send eth to a wallet
• swap eth to ILV on sushi
• go to the illuvium site, connect same wallet used to swap, and stake ILV

Correct?

[brisk surge]

sounds about right

[brisk surge]

Yeah pretty much. Some exchanges you can buy ILV directly and avoid swapping but that depends on where youre from. There is a form in the pins that can help estimate the gas fees.

[gilded wigeon]

Any tips on where to buy sILV without paying much gas?

[gilded wigeon]

bro make sure u have the LP token address on your metamask so u can see after providing liquidity your LP token...i panicked about it when i first staked in LP way back 😁😁😁

[gilded wigeon]

u can also check vetemor's video to have a rough estimate how much gas ul need
https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit?usp=sharing

[knotty galleon]

What is the LP token? I did add ILV already to metamask

[silent cedar]

!contract

[woven ibex]

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

[knotty galleon]

By LP, do you mean ILV?

[silent cedar]

Sushi Liquidity Pool token

[gilded wigeon]

Liquidity pool.... the ILV/ETH address mate

[gilded wigeon]

if u have it on ur metamas you can see how much LP token u have after providing liquidity

[knotty galleon]

gotcha - that makes sense

Last question for now: What's the difference between the ILV pool and the Sushi LP pool? Why the 10x higher APY?

[coral pike]

!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

[coral pike]

@knotty galleon i also found this informative https://www.publish0x.com/ilvfi/the-ultimate-faq-illuvium-slp-liquidity-pool-staking-xrnxvzo

[knotty galleon]

Thanks! Will look through all these tonight. Sorry, just diving into all this for the first time today haha. Lots to catch up on

[coral pike]

https://tenor.com/view/star-wars-baby-yoda-the-mandalorian-welcome-wave-gif-16179355

[wicked stag]

hello. tell me please how can i unstake XYZ from pool

[broken herald]

What happens to the sushi liquidity pool when Illuvium gets listed on the major exchanges and no one buys on sushiswap anymore? Rewards still being distributed?

[coarse stag]

Vetemor says that the land sale purchases will get dis tributed to the stakers, is that staking ILV or ILV-ETH liquidity pool?

[cyan rampart]

All staked ILV are eligible for revdis. That includes the ILV portion of your SLP stake.

[coarse stag]

Thanks for the quick answer.

[cyan rampart]

We're listed on some major exchanges already - The YF rewards for staking the SLP will persist for the entire duration of Yield Farm.

Having a large liquidity pool is important for revdis to function properly - The Vault needs to buy ILV from the market, and the ETH/ILV LP is the perfect place to do so.

[ornate cypress]

What happens to the slp when yield farming rewards end. Does it just abruptly end and you get your money back

[brisk surge]

This is actually insane to think about. Theres no way the vault could just make casual $1m ILV buys every day from a CEX. They would just straight up run out of tokens. The amount of liquidity in that pool is so nuts, Its bigger than the USDC/ETH pool on sushi.

[cyan rampart]

I still get knocked on my ass sometimes thinking about how well designed the tokenomics are. There are still things I have questions about (ex. liquidity post-YF era), but they are VERY far out and don't demand immediate answers. There's also some super novel solutions (Tokemak was one of them) that could be answers to that kind of thing.

[flat brook]

Is it cost effective vto stake right now if my initial amount is just around $50?

[cyan rampart]

It's not worth it if you have $50 of ILV. Gas prices right now will cost you many times that much to stake.

The APY over a year has to at least equal your gas prices to make it worthwhile, if we ignore token appreciation, but at $50, you'd need the average APY over the next year to be several hundred, if not thousands of %.

Your best bet is to accumulate more ILV, wait for gas to be cheap, and stake when you have enough to justify the gas fees.

[flat brook]

!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

[flat brook]

Any idea how much gas fees are for staking on ILV? I haven't checked yet

[livid portal]

I think gas is at around 165GWEI rn

[cyan rampart]

There's a calculator pinned in this channel you can use to estimate gas fees.

#🥩〕staking message

[flat brook]

Oh, man. Thanks. I don't really understand how this all works.

Mind if I ask another question? I'm just starting out on crypto, but I'd really like to try my hand on Illuvium as my main play to earn game. Problem is, I just recently started my first job so I don't have that much cash right now.

What other ways can I do to invest in Illuvium before the game is open?

My budget's around $20-50 dollars a month for this, starting on December.

[cyan rampart]

Well, there are NFTs on OpenSea, but I wouldn't recommend that on a tight budget. If you intend to just play the game, and earn that way (as compared to buying ILV and staking it for revdis/Yield), you could consider buying sILV.

Definitely have a read through the #❓〕faq and get an idea of what sILV is good for, but it's at a substantial discount compared its' in-game spending power.

FWIW I think buying and staking ILV is the most straightforward way to invest in the project though.

Even if you can only afford a bit, DCA'ing over months is a perfectly reasonable strategy.

[flat brook]

What would you say is the minimum amount at the moment to be able to stake ILV? Offsetting the gas fees. . .

[flat brook]

Right then. Guess I'll be buying the ILV tokens slowly but surely. Thanks, man!

[cyan rampart]

With current gas at 140, probably $800-$1000 range. If gas drops down to like 40 though, you could make a case for as little as like $400. Ultimately you have to decide for yourself how much you're willing to spend on gas to stake.

[flat brook]

Is there a way to monitor gas fees ATM? I'm guessing there's a pin here or something but I prefer asking directly :)

[gloomy gazelle]

Buying on an central exchange will help reduce gas costs.

But you’d still have staking fees on mainnet.

!fees

[knotty river]

Fast: 152 Standard: 135 Slow: 133
Simple ETH TX: $15.23 (0.0032 Ξ)
Token Approval (ERC20): $37.12 (0.0078 Ξ)
Token Transfer (ERC20): $34.74 (0.0073 Ξ)
Uniswap Trades: $86.6 - $144.66 (0.0182 Ξ - 0.0304 Ξ)

[gloomy gazelle]

But it’s not the fees for staking transactions.

Those are higher I’m afraid.

The problem is staking fees are complex and depend on gwei. So using this sheet and making a copy to input the info you will use is the best way. https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit?usp=sharing

[cyan rampart]

There's a bot that tracks gas prices, if you want figures for specific transactions, the calculator I linked earlier shows the exact amounts.

[flat brook]

Thank you thank you thank you. All advice is greatly appreciated!

[abstract junco]

Guys I'm finally about to stake around 10k, is it a good idea to stake in V1 or shall I wait for V2? I can't make up my mind

[gloomy gazelle]

I wouldn’t wait.

You are missing out on some rewards while we speak. But it might be worth waiting a day or two for lower gas.

[abstract junco]

Yeah I'm waiting for Sunday actually

[gloomy gazelle]

But not likely worth waiting a month or even a couple weeks for v2. Though there maybe an #📣〕announcements coming that could give you a better timeline on v2

[abstract junco]

People have to lock their tokens for 2 years in V2 though right?

[gloomy gazelle]

Actually not likely.

But we will need to wait for the IIP to be passed to be sure.

[grave zenith]

just spend shit ton buying approving and staking ILV, bullishh

[cyan rampart]

xD

[mint cave]

https://tenor.com/view/bait-thats-bait-tom-hardy-mad-max-gif-5055384

[olive jetty]

OMG these gas fees! I spent 625 usd to provide liquidity worth .45 slp. Lols

[fossil zephyr]

I spent 1100 usd gas fees....

I can buy a car with 1100usd😄

[olive jetty]

You'll buy a house and more with what you staked. Lols

[fossil zephyr]

I hope it can be 400% after one year

[faint sorrel]

Morning! I've read something yesterday, but didn't scroll back far enough, so I would just like to clarify something.

Someone mentioned that you have to claim your rewards 1st before staking long term, is this true?

Can't you just stake for 12 months, your rewards accumulate and retrieve it after?

Or must you stake short term, retrieve rewards, then stake 12 months?

[olive jetty]

I only staked LP but didn'ts stake ILV. Is that OK?

[potent flare]

if you are talking about the SLP APY, next year it probably will be less than 150

[dusky anchor]

I did not pay attention that the LINK flash pool was almost over... 😩
The ILV reward from that pool was lower than the gas... But to witdraw the LINK, the staking site says I have first claim the rewards...
Any way to skip this and just withdraw the LINK from that finished flash pool?

[potent flare]

not at the moment. You might be able to do it after staking version 2 goes live, or when eth resolves the gas fees. Cant paper hand that link 😄 Forced hodl

[dusky anchor]

Yep!! Forced hodl... Thanks for the answer

[fresh grail]

If you have any amounts in the pools, yes you must claim before you stake again.
You can stake for 12 months, but your rewards that aren’t claimed won’t accumulate rewards.
Until you do claim your vesting period of 12 months won’t start for those rewards not yet claimed.

[strong sapphire]

how can i buy ilv without selling a leg on gas? or i just have to pay 80% fees?

[craggy field]

Buy ILV on CEX for less gas. And if you intend to stake or sending it to metamask do it in weekends around 9AM CETZ for lowest gas fees.

[fresh grail]

Purchase through a CEX like Kucoin or Binance. You can check where they are available to be purchased from on Coingecko

[strong sapphire]

thx guys, i use coinbase but like it charges me the same amount i wanna put in... its insane

so for ex if i buy 100$ in ilv from binance how much is gonna be the fee likw

[fresh grail]

Depends on what type of buy you do. Off the top of my head like .01% fee.

[strong sapphire]

that makes more sense... apprecciate it

[fresh grail]

All good. Correction .1% for a Spot trade

[kindred crane]

Benefits of staking ILV?

[potent flare]

yield farming and revenue distribution, voting power, swag

[kindred crane]

What is yield farming and rev distribution?

[potent flare]

no questions about voting power and swag? cmon man those are the best things

[cyan rampart]

!revdis For yield farming, if you're not familiar with the idea, I suggest reading the tokenomics articles, you can check back here if you still have any questions.

[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.

[cyan rampart]

!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

[kindred crane]

Very helpful, thank you

[olive jungle]

Hello everyone I'm new to Ilivium and nft stuff I want to ask a question about staking, will it takes 12 months for me to claim back the ILV token that I stake?

[cyan rampart]

You can choose how long you lock your stake for. Anything from flexible (unlocked) to 12 months is possible, in 1 week increments.

All rewards you claim as ILV take 12 months to unlock, however. This 12 month vesting period starts when you claim rewards as ILV.

[fresh grail]

Swag for sure is the reason we have ILV

[potent flare]

https://tenor.com/view/look-you-see-there-you-go-youre-welcome-my-point-gif-14559946

[olive jungle]

So if I stake for 1 week only then after 12 months will i able to get my token back? Oh and theres two option right, claim as ILV or sILV? and sILV is like the game currency? correct me if im wrong.

sorry for asking a lot I'm really interested in this project

[cyan rampart]

If you lock your stake for 1 week, you can get your STAKE back in 1 week. You will pay gas fees to unstake it at that point, if you choose to unstake it.

You will get your rewards, if you claim them in ILV, a year after you claim them. During that 12 month vesting period, they will be staked at a 2x weight in the ILV Core Pool, and will generate their own rewards and revdis during that time.

If you claim your rewards as sILV, you will get them immediately. sILV is a type of in-game currency, yes. You can read about ILV and sILV functionality in the #❓〕faq

[potent flare]

its very simple. 1. You stake (0-52 weeks). 2. Rewards accumulate every 15 sec. 3. You claim rewards anytime. 4. The vesting starts from the time of claim (12 months ILV/ 0 months sILV) aaaand thats it

[olive jungle]

I think i got the gist of it, thanks guyss

One more question, if I want to stake is there a reason to why I should not choose SUSHI LP and should just go with ILV, from the APY obviously I should go with SUSHI LP, so is there like some risk into it?

[cinder epoch]

is there a timeline for how long staking will be around? few years? will the ability to stake go away eventually?

[fresh grail]

Impermanent Loss is the main risk, but currently gains will outweigh it

[olive jungle]

I see, thank you!

[potent flare]

also a lot more gas to stake/claim

[olive jungle]

didn't knew that, thanks!

[fresh grail]

Yep, even if you want to only claim the SLP. You will still need to claim both the ILV and SLP. Until V2 staking fixes it (no dates yet) we are stuck with it.

[faint sorrel]

Oooh so you mean, your staked amounts will accumulate, but because you don't claim the 'new' rewards, there won't be a compounded amount?
So in other words, keep claiming and put it back into the pool?

[fresh grail]

Correct, no compounding will happen unless you claim and vest for 12 months. Obviously it's best to claim when fees are low to maximise rewards.

[spare phoenix]

Jeez I just went to stake 1 ILV and the gas was $198!! Think I’ll wait for the weekend

[exotic quarry]

When is the best to claim rewards? Every 12 months?

[dusk gorge]

Anyone got problem with swapping the token at shushi? I keep getting failed transaction

[harsh hazel]

Hi folks, I have a question on the staking contract and claims (hopefully this is the right channel):
Is there a way to initiate a rewards claim (processRewards) for another address?
i.e. Alice has 3silv rewards waiting to be claimed. Bob calls processRewards her behalf. Alice then receives her rewards as if she had claimed.

[potent flare]

@manic spindle

i doubt that is possible, though the lord and savior stormi might have some insight

[faint sorrel]

Thank you! What is vesting then? How do you get yo vest?

[manic spindle]

I don't see how this should be possible. Claiming rewards is an incredibly sensitive thing, not only in regards to taxes possibly but also in regards to what rewards are being claimed (sILV or ILV). There is no set up currently that allows stakers to enter other wallets for permission to affect their own claiming. For your scenario to be possible then would mean that everyone would have to be able to do it for everyone else right now, and that is something I cannot see being possible whatsoever.

[fresh grail]

Vesting is just a term used for the rewards you've claimed and are locked for 12 months.

[harsh hazel]

Thanks, the purpose was to be able to schedule and offload reward claims instead of manually coming back to claim. So, tax issues aside, you don't think it's possible?

[dusk gorge]

To stake again, i need to claim the reward. So is the action concurrently? Or i need do 2 transaction? I am worried if after i claim then what if it take too long to stake in then end up i need to claim award again

[cyan rampart]

Just try and stake, it will automatically do the transaction to claim. Don't claim manually and then try to stake, that will result in 2x claims.

[dusk gorge]

Ah i see. So i just click the stake then it will stake + claim reward right? So is concurrently

[cyan rampart]

Yeah, just click stake, and then it will automatically claim for you.

[manic spindle]

It might be possible in theory, I don't know how it should be possible for Illuvium right now though. Maybe @midnight geyser can elaborate more about it here.

[grizzled timber]

Guys is it logical to stake 1 ilv for 1 year

How much can I get

[eternal pecan]

is it possible to have a portion of sushi LP stake locked and a portion flexible ?

[potent flare]

maybe, maybe not. Gas would be a lot with that budget, claiming rewards also costs gas

[potent flare]

sure, just make 2 different stakes with 2 different amounts. you will pay double the gas tho

[past palm]

Staked ILV in the ILV pool with a token weight of 2 are eligible for rev dis right? Not just the tokens that I already have generated/claimed

[potent flare]

all staked ilv tokens are eligible for rev dis

[past palm]

Thanks mate

[bright heart]

And on 2 weight you get double revdis.

[past palm]

Love it, has someone of you a detailed guide with calculations about different staking strategies? Also maybe with a calculator that I can rebuild by myself

[delicate cloak]

Check the pinned posts.

[past palm]

nice thank you 🙂

[hot lynx]

RevDis 🚀 👀 🙏🏻

[gilded wigeon]

check this out bro
https://docs.google.com/spreadsheets/d/1z2co3pS7Yq9Hc86t705tU__d-vGuRp6iTTvHta9gOXE/edit#gid=1097421284

[kindred merlin]

Hi @cyan rampart and everybody else,
I started a discussion yesterday about creating an official sILV pool.
A friend of mine have since mentioned to me that Aaron at some point have commented that sILV will be in the "Fuel/Eth-balancer-pool-thing"
Is this something that anyone in here can link to, or explain to me?
If this "pool" contains sILV, I guess this could be thought of as the official sILV pool 🙂
Are there any details of this fuelX/fuelY/FuelsZ/Eth/(sILV) ?
Thanks.

[versed coral]

Hi Guys, any info as to when V2 will start?

[livid light]

they said end of this month, but no date

I still struggle with claiming lets say 20 tokens, is it better to just go ILV claim for 20 tokens or claim sILV and sell them off to gain more SLP tokens due to higher rates

Since the core pool is 10x the APY

[brisk surge]

Anyone knows what is the APY of staking ILV for 12 months?

[clear cape]

about 40.5-41% in core pool

41.80% just checked. Keep in mind this will deteriorate over time

[thick kraken]

hey guys do I get revdis from SLP?

[brisk surge]

And is there any way how to avoid gas fees when staking them, currently I have ILV in my binance

[clear cape]

You get revdis for the portion of SLP that is ILV, so half of your SLP stack

@brisk surge Unfortunately not, can only stake through sushiswap right now

[thick kraken]

assume it halves every 3-4 months if you're running models

[brisk surge]

crap.. spending so much on these fees.

[clear cape]

They do suck!

[brisk surge]

Do they plan to change it in the future, or they hope ETH update will solve it

[clear cape]

They have v2 staking coming out maybe sometime end of this month or next month. it will optimise gas and should make the fees much cheaper

[thick kraken]

what's a good gas level? 100 GWEI?

[cunning perch]

60-70 is good, 40-60 is awesome, sub 40 is "what are you waiting for" these days

[thick kraken]

thanks man

[finite bear]

guys quick question for the LIV LQ pool, does the fee distribution get paid everyday?

[cunning perch]

Are you referring to the fee that is mentioned in Sushi?

[finite bear]

yup, i am new to LQ pool

i understand the impermanent loss stuff and i know you get paid in SLiv

[cunning perch]

Then Sushi has already given you the answer 🙂 👉 "By adding liquidity you'll earn 0.25% of all trades on this pair proportional to your share of the pool. Fees are added to the pool, accrue in real time and can be claimed by withdrawing your liquidity"

[cunning perch]

No. That is wrong. You stake, (aside from IL), you will receive rewards in forms of ILV and sILV. You can claim either with each claim. Rewards will be distributed every block (15 secs). Read blow for more info:

[finite bear]

so what does the 416% APR mean?

[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.

[cunning perch]

for all staking questions, you can read the docs below:

[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

[finite bear]

ah thanks

[finite bear]

i just read through most of the links, but just a quick question. Where does this 416% APY come from?

there is no way that by putting 100 usd in LQ pool a day will get you around 1.13 USD a day right?

[proud moth]

Arash just explained above with the help of our bot

[finite bear]

ya i kinda understand the mechanics, but just questioning the 416% APY

[coarse dune]

its only 416% percent if you lock in for 12 months

[finite bear]

wait but the 416% can change any time right?

[coarse dune]

im still a novice in this as well but from my understanding as more people stake into the pool the apy will shrink. ive seen screencaps of the sushi LP being 600% or higher

[proud moth]

the price of ilv too

[clear cape]

The APY fluctuates with ILV price & the amount of people joining the pool

you get a set ILV amount of rewards a day, and this generally decreases over time. As ILV changes price everyday, the 'APY' changes but the amount of ILV u receive doesnt

This only happens every fortnight when a 3% in ILV yield is reduced and if more people join the pool / more money is staked etc

[coarse dune]

I love this discord

[clear cape]

So when ILV pumps in price, the apy becomes much higher, but you arent actually receiving any more ILV tokens

it's just the ILV is worth more now. Same when ILV tanks, APY drops but you're still receiving the same ILV

bottom line : ILV you gain per day is the key metric!

[finite bear]

correct me if i am wrong, to my understanding for LQ pool ILV/ETH u get atm 416% APY that means around a good 1% made every day on paper, and the only concerns is impermanent loss which even when ETH and ILV goes opposite direction in price is still only a small percerntage in impermanent loss.

[clear cape]

The general consensus is that the rewards you get will outweigh any IL you will get

As of right now, i agree with this sentiment. This might be different early next year though

[finite bear]

hmm ok was just wondering the big difference between Axie LQ pool and illuvium, since i did some math on the axie LQ pool and their APR is utter garbage

but thanks anyways for explaining

[clear cape]

My friend @elder dawn wrote this https://www.publish0x.com/ilvfi/what-the-dollar-and-is-impermanent-loss-and-why-do-i-care-il-xnxkekg

He also writes up other articles and creates excel sheets for the community, you can find it in the pinned messages here and other people's things as well.

I recommend reading them and using those calculators for a much better understanding than i can offer 🙂

[finite bear]

ah big thanks 🙏

[gentle axle]

I wanted to unstake my SLP (unlocked) to be able to stake it again by this time locking it for 1 year. I knew that to do that you had to first had to send the rewards to vesting - so I did. I paid 2 transactions to send my reward to vesting. As predicted, my reward balance went to 0. Then, I went to the vesting tab to withdraw my unlocked SLP. It told me that before doing that, I needed to first withdraw my rewards (which made no sense because I had 0 rewards at that point in time) before withdrawing my SLP. At this point I was very sad but there was nothing I could do, so I had to pay another 2 transactions to withdraw "non-existing" rewards. Then 1 transaction to withdraw SLP, and finally 1 more to stake it again. My point is not to complain about the number of transactions usually involved - that's fine. But that "flaw" in the way rewards are organised has made my day a very sad one, having to pay a lot of money to withdraw rewards that I already did. Nowhere was written a "WARNING, before you proceed please know that if you wish to withdraw SLP this will not count and you will have to send rewards to vesting again etc.." and I think it is quite unfair. I am a fan of the project but this makes it hard for me and I would like to ask the team to be considerate and prevent this from happening to newcomers or anyone else trying to decipher the hieroglyphic puzzle that staking has been so far. Thank you for listening, I am sorry for this big text and I hope you have a great day ~ Adrarc

[unborn hill]

Are there any known options to leverage our staked ILV? essentially borrow against the locked value on any platforms? I assume likely no, since the ILV is not able to be locked in a lending contract as collateral. Just thought I would ask in case there was an inventive way to unlock some of that locked liquidity. tks

[delicate cloak]

Sorry you had to pay twice but honestly it's been discussed here several times. When withdrawing your stake you don't have to claim first. It was even mentioned here in the last day or two. It sucks, but you need to know what the process is before just doing it, otherwise that's how you burn funds. It sucks, but it's a harsh lesson to learn. This is why they are working on Staking V2 but you can't change the current contract, that's not how crypto works.

[gentle axle]

Thanks, I'm not looking to change contract. Simply that, if you're not 100% on this channel trying to read everything - you're usually doing things based off the website. Yet in the rewards tabs or the "ultimate staking guide" there are no such warnings. A lot of people come talk about it here on discord because it happened to them and they didn't know about it so they come here.

[delicate cloak]

Have you read all the pinned posts? There's a ton of articles and information about staking. I've only been here a couple months and I'm very aware of the process. Here's someone asking it yesterday: https://discordapp.com/channels/760344898200666112/859866659011690537/908546767740624959

The thing about Discord is you don't need to be here for all the chats. You can utilise the search bar and find previous discussions about the same topics.

And what are you wanting the team to change if not the contract with warnings?

[gentle axle]

Makes sense. I guess what I mean is that the website is the front end - discord has a lot of people confused from the front end or the guides available so they come here asking questions. You don't need to change the contract, having a little HTML on the website with some useful tips would go a long way - perhaps even links to idk, discord pinned posts..

[clear fiber]

how does the staking work? Is there a basic step by step by any chance?

[gentle axle]

See what I mean?

[delicate cloak]

Suggest it over in #814313779696238642 . Or you can make suggestions to be a part of the Staking V2 changes. For me, and I'm just talking about me personally, I read EVERYTHING I can find before investing money. I'm very diligent and make sure I fully understand something before spending thousands of dollars. But everyone's thresholds are different.

[delicate cloak]

Check the pinned posts. Read those.

[gentle axle]

In all honesty, I thought I did, yet that particular combo took me off guard and had no idea about it. Slipped through my net, and I'm sure it will happen to a lot more people

[delicate cloak]

It's not my fault people who are new come and ask questions without reading absolutely anything. I'm constantly referring people to the FAQs and pinned posts. You are responsible for your own investments.

I'm not debating that there isn't a learning curve. Most of us here have made mistakes at some point, some of them quite costly. But this is crypto. It is the wild west and crazy, but that's also part of the reason for the juicy gains. If everyone could do it, it wouldn't be as lucrative.

[delicate cloak]

Honestly, it sucks you got burned. I wouldn't wish that on anyone. And I am sure suggesting some noob friendly improvements could help big time.

Having said that, people also need to take responsibility. I see everyday people complaining that they got screwed and it's not their fault. I'm not saying you're saying that, you're owning it, but many do.

[sacred cosmos]

If you search Illuvium Academy it has a good video about the game and staking. It's made by one of the DAO council members. You can also check rising storm (council member) and vetemors too. Loads of videos out there on staking to learn from

[gentle axle]

Yes, which is why I was only making a suggestion hoping to be constructive. Like some guidelines. I lost, too bad, didn't my research well enough okay yes fine. Hence the suggestion

[delicate cloak]

I think your suggestions may get lost/buried here which is why I suggest #814313779696238642 or as part of the V2 staking solution.

[gentle axle]

I posted it on the feedback channel, I won't spam more than that I guess. Cheers @delicate cloak

[delicate cloak]

No worries. Again, just want to clarify I wasn't being an ass lol just trying to manage similar problems on this channel. Hopefully its smooth sailing for you from here on out 👌

[gentle axle]

All good, I understand that it can be frustrating. Likewise 👍

[hot lynx]

Hi everyone what's the simple way to work out what 1 SLP = in ETH/ILV
I am a staker and have been for some time. #🥩〕staking

[delicate cloak]

I use Zerion to check it

[delicate cloak]

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

[hot lynx]

Thank you
= 50/50 ILV/ETH

[delicate cloak]

My bad, didn't realise that's what you wanted lol. I would have said 50/50. It does drift slightly but it's close to 50/50

[hot lynx]

No problem thx for the help
2375 ILV 2375 ETH as 1 new SLP
my old ones could have impairments.
Not that it matters as they are on 1 yr locks.

[hot lynx]

This is a great question. Tag me if you get an answer 👍🏻

[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

[void furnace]

Hey guys.... Any know if Celo extension wallet is legit and does it reduce the gas fees vs using Metamask to stake directly?

[cunning perch]

What? For ILV? It's scam. Don't fall for it

[void furnace]

ok. That;s why I Was asking

[void furnace]

I think that is how I got phished the other day by the guy that was posing as you 😦

[fickle hare]

Hi I’m kinda new to staking, I read on the ILV Reddit page that stakers receive 100% of in-game transactions, is that true? If so is that written or stated somewhere official?

[clear cape]

If you got scammed before..dont fall for the dms again my man :p

[cunning perch]

Sorry to hear that 😭

[cunning perch]

!revdis is what can give you the answer you're looking for 👇

[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.

[void furnace]

yeah...just trying to sort things out before I ever have money to stake, but it's going to be a while....they wiped me out for nearly $10k 😫

[fickle hare]

Thanks

[clear cape]

Sorry to hear that man

[gloomy gazelle]

Not that I’ve heard of. Claiming rewards as sILV is the fastest way to liquidity I’d say.

[cunning perch]

@azure grotto sorry for what happened to you, but plz refrain from posting scam links in public

[azure grotto]

@cunning perch yeah is sad, but luckly i just send smalls amounts when iam tryng something new, well i should have been more alert anyway

[cunning perch]

I'm glad you were alert. Please be very careful. Scammers are everywhere and they are impersonating ppl. Don't accept DMs from anyone

[abstract junco]

If I stake my slp, are there going to be 2 transactions?

[cunning perch]

If it's your first time staking anything, there will only be approval. If not, yes, there will be 2 Tx

[abstract junco]

Yes first time

I have slp in my mm

[cunning perch]

If it's your first time staking anything in either pool, you will have to approve (1 gas) and then stake (1 gas).

[abstract junco]

Dang it

[cunning perch]

Weekend is around the corner. Wait a bit and might get cheaper gas

[abstract junco]

Yeah I know, thats why I'm waiting. Last week I had converted my ilv eth to slp and had to pay around 220$ fee

[cunning perch]

yep I know. V2 will fix lots of gas issues, but still new stakes will have to undergo the initial gas I think

[abstract junco]

Im waiting patiently for V2 thats why

[cunning perch]

V2 will most probably reduce claiming fees exponentially.

[abstract junco]

That would be great

Thank you anyway, I'm gonna wait for this Sunday

[cunning perch]

Anytime 🙂

[hot lynx]

Hey Arash waz ape
You got rid of Mozart 👀
Was it a request as the bot has it also

[cunning perch]

Hey man. Noah. The scammer was trying to send me Friend request and I hated seeing it. So I decided to change a bit

[fast rapids]

@cunning perch Have a little doubt 😒 , but we can claim sILV by staking ILV pool am i right?

[cunning perch]

yep

[fast rapids]

Thks 🙂

[hot lynx]

Hey @cunning perch before you catch some zzz
If a person has 1 SLP staked today .. how many ILV will they get over the 12 months lock ?
Please don't point me to the pinned spread sheets 🤣
Just a high low guess
Ahh I have missed him his gone to catch some zzzz 👍🏻

[trail sail]

Hard to calculate that with diminishing returns etc.

[delicate cloak]

It's all speculation. That's why those sheets exist.

[trail sail]

I'm getting just under 0.1 / day with 1.6ish SLP. Do whatever you want with those numbers

[hot lynx]

I was thinking of what would be needed to end up with 100 ILV in 12 mths time .
Kind of working backwards as a guess granted but also a bit of fun

[delicate cloak]

I would estimate approx 6 SLP would do pretty well based on some of my calculations I've done with Lelahel's calculator. Not financial advice and all that.

[hot lynx]

I think if you have 6 SLP it would get you to 100 rough numbers after 12 months of #🥩〕staking

[delicate cloak]

Lol we're on the same page

[hot lynx]

Snap 👍🏻👍🏻👍🏻

[hot lynx]

Yes awesome I am glad we have a little dip right now as I want to add to my SLP next week and when the gas is reasonable

[pine maple]

Do I have to accept my ILV rewards from the normal pool after I’ve taken my rewards from the LP?

[cunning perch]

What Superlemz said. Still pretty much speculative, but you should be fine 🙂

[cunning perch]

Staking SLP rewards is always a 2 TX procedure: 1 to claim ILV pool rewards and 1 to claim SLP rewards

[devout ledge]

Hi I have a question. Can I claim sILV reward from locked staking anytime? Even if im locked for 52weeks? So if I will need silv next month it will be possible to claim reward?

[cunning perch]

You can always claim sILV and it will o directly to your wallet

[devout ledge]

Nice thanks

[pine maple]

So did I just waste a bunch of money by going idle?

I see one for 150$, then now one for $250 ouch

[cunning perch]

I honestly don't know what you have done, but when you click claim SLP, it will trigger a TX that will force you to claim ILV rewards from ILV pool and then another TX that will claim your SLP rewards.

[cunning perch]

yes you are claiming in a time when Gas is VERY hurtful.

I suggest waiting for the weekends from now on. You might get cheaper ones

[pine maple]

But I already did the first one. That was painful. It must’ve reset so I had to claim a lame .00005 in ilv then made me follow through with the LP pool.

[cunning perch]

yes you know that you get rewards every 15 secs, so if you don't accept the next one you will be required to go through both TX again as there is always unclaimed rewards in ILV pool, however small.

V2 will fix this issue

[trail sail]

Probably best for anyone not super clear on claiming to wait until V2 just in case things go wonky lol. Shouldn't be much of a wait now

[cunning perch]

Might take some time before V2 is fully implemented (maybe a month, who knows) so for the ones not wanting to miss out on rewards, a cheap gas should be a good incentive to jump in if they can.

[trail sail]

Has there been talk about approx how efficient they're looking at making the claiming mechanism in V2? Like are we talking just transferring ETH kind of levels? Or somewhere between that and where they are now

[cinder epoch]

So if I stake for 52 weeks, if I claim ILV on the last week (week 52) that is locked for another 52 weeks?

[trail sail]

The ILV rewards are, yeah. But your original pool still unlocks at the end of the term

[cunning perch]

I believe one thing that it's aming to fix is the 2 TX SLP claim. Still gotta wait to read the fully revised proposal. It should be published pretty soon.

[cunning perch]

yep. The moment you claim ILV, it will get locked for one year

[cinder epoch]

But claimed ILV can be re-invested into staking or have to wait 1 yr to re-invest?

[cunning perch]

When they get locked, they compound to your original stake with a weight of 2X while generating more rewards

[delicate cloak]

You can scoop the token now while the price is low and then just add to SLP when gas is lower. Weekend is the time of gas activities lol

[delicate cloak]

One thing I just assumed but actually never confirmed - will current locked stakes be able to use the new claiming mechanism? I assume not since the original stake is locked that you're subject to the claiming mechanism when you locked up.

[cunning perch]

This is going to be pointed to in the revised proposal I assume. We'll see.

[delicate cloak]

Perfect. It was something I never thought to ask until now. It would be pretty sweet if somehow that was possible.

[cunning perch]

As Aaron said, they have literally tried to listen to all and incorporate ppl's requests into V2.

[delicate cloak]

I'll be pretty impressed and happy if they pull that off as I didn't expect anything when locking up. Gotta love this team.

[cinder epoch]

So if I want to farm purely sILV, it would make more sense to stake SLP at this point in time?

[verbal heron]

https://gfycat.com/glitteringgrimyamericanbittern

[cunning perch]

We love the team and we love Atlas for being so cure. esp when it's always happy with the price (next to price bot) whether we go up or down lol

[cunning perch]

No one can give you financial advice. I advise checking the calculators pinned in the chennel to try finding out some answers

[verbal heron]

[cunning perch]

Hey @midnight geyser can you help @shrewd pine regarding an issue he's having? I have explained some parts to him, but I'm sure you can give a better and more precise answer to his questions. Thanks a million 🙂 you can tag him here in the channel and he will DM you then.

[midnight geyser]

Hey! Sure going to DM him

@shrewd pine can you send me a friend request pls?

[native cave]

Hello folks. I went through FAQ of staking (nice job btw) but I still have one question.
Let´s say I will do core staking of SLP token for 52 weeks. Now is APY around 416%. Is this APY fixed? I mean... what if after 8 weeks APY will fall to 200% and after another 8 weeks to 100%. I will be locked with funds for another 36 weeks in pool that do not generate enough reward to cover my risk. And one year is in DeFi like a century in real life you know. Ofc I can stake for 1 week. But you know...gas man. Gas.
And then is my reward locked for another 1 year - again in pool, in which its APY fell to 100%. That doesn´t sound like a smart thing to do. any thoughts on that?

[trail sail]

APY drops regularly as more people jump into the pool and the rewards set aside decrease. There's a finite amount of ILV set aside as staking rewards. When you claim your rewards as ILV they're staked for 12 months in the ILV core pool (not SLP)
The idea is that by the time these rewards run out the rev dis (which only goes to staked ILV tokens) will make up for the lower/non-existent yield

[hot lynx]

All good Arash as it turns out at exactly the same moment we both posted the same guess / idea rough guide of 6 SLP 4 100 ILV
So with the Gwei situation it now seems 90 is the new 30 🤣 so that's my most likely staking ⛽ until V2 arrives as I am not waiting 👍🏻 🚀 👀

[trail sail]

Watching a how to yesterday and they were paying 18 gwei

[hot lynx]

Ye it's a heart breaker , a few of us in the good old days pre Neg ETH inflation weeks .. used to get set for Sunday's and catch the 30 Gwei ' s ahh yes those were the days ... Only a month ago .. seems like 6 mths

[shrewd pine]

Hi Pedro: Just sent you a friend request. Thanks dennis

[native cave]

So, basically everything I have written is right. Except that reward is not staked in the same pool, but in single coin pool ILV.

[trail sail]

Yep. If you're doing this to yield farm and not because you believe in the project then maybe it seems risky, sure.

[native cave]

well, it is risky AF, but who wouldn´t join first AAA game on blockchain, right? 😄

[meager prairie]

@native cave cheers!!!

[fossil pelican]

If I have SLP staked, and some rewards currently vesting, do I need to claim rewards before staking ILV in the regular staking pool?

[livid light]

It will prompt you to claim prior to adding to the pool

[obtuse plinth]

I received a privet dm from iluvium annoucements about eth staking

[livid light]

its a scam!

[obtuse plinth]

1000% apy. Wacth out for scam

[sage siren]

If my UNI-ILV staking token is done being locked up, but I leave it staking (say due to high gas), do I keep earning the same bonus as if it were locked?

[brisk surge]

The staking for ILV isn't on uni it's on sushiswap

[sage siren]

Of course, I meant to mean my SLP-ILV/ETH position. The chosen lockup period has passed, and wondering if I need to unstake and re-stake with a new lockup to keep my multiplier.

[brisk surge]

You wouldn't have to restake unless you wanted to change your current weighting that you had originally before.

[sage siren]

OK great thank you. So as long as I'm happy with my earnings I will just keep it for now, appreciate it!

[thick kraken]

in the ILV token rewards sense, yes your ILV token rewards are decreasing

in the $$$ sense, a decreasing APY means more people are staking --> means more people are buying ILV therefore jacking up price. If the demand is sufficient, then ILV increases in price, so your SLP increases in price as well.

I've experienced this 1st hand, a $100K SLP investment for example with 700% APY, after a few months becomes $300K with 400% APY. technically APY $ remains the same, if not increasing even. only catch is it's locked, but you can sell for cash via sILV (tho discounted)

[fickle hare]

hey I was hoping someone could help me with two questions.

1. who will get to play in the closed beta? is it available for staked token holders? is there a required amount to have access?
2. does staking revenue rewards also apply to illuvium zero and other future illuvium games?

[silent cedar]

The closed beta sign up hasn't started yet. There will be an application. ILV is the governance token for all future games. Staked ILV will recieve revdis from all games under this DAO.

[fickle hare]

cool cool thanks

i assume applications would be under announcements when they are released?

[silent cedar]

Correct

[woven ibex]

🚫 Jahkobian, you can't use that.

[silent cedar]

Closed beta testing will begin before the end of 2021. Illuvium will have 2 closed beta testing stages. The first stage will be for team members and professional game testers, and will not be open to the public. The second stage will have limited slots for public members. When the second stage is taking applications, a message will be posted in mega│announcements detailing the application process. Check robotbeta-tester-request for more information.

[fickle hare]

awesome thanks, and stage 1 closed beta got pushed right? or am i trippin

[silent cedar]

Not sure, land sale is waiting for staking v2, so maybe timeline is stalled waiting for that

From the timeline command: The current estimates are:

• Closed beta Before End of 2021
• Gameplay trailer end of October
• Illuvatar auction before open beta
• Open beta (launch) on PC & MAC in Q1 2022
• Mobile launch in 2022

Ongoing: Hiring of new Core Contributors, Influencer Partnerships and more

[fickle hare]

gotcha thanks!

[silent cedar]

Head over to #🎮〕illuvium-zero to see what's up with land sale

[prisma schooner]

240 gas right now 😮

[ionic wraith]

How come nobody told me that USA residents cannot participate in IGO's offered by all the launch pads ?!?!?. That was a waste of time...lol Will that ever change for folks in the US?

[brisk surge]

I think you might be on the wrong discord bro. Plenty of folks from the US are invested in ILV.

[ionic wraith]

my bad. Yeah, I'm gonna stake some ILV.

[coral pike]

!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

[silent cedar]

I'm US and in ILV. What's IGO?

[long sinew]

Question.

If Ive decided to claim my staking rewards as ILV, it will undergo a 12 months vesting period right?

Will my rewards create more rewards? I mean for example:

I have 3 ILV right now.

After 1 year it will become 6 ILV

•3 withdrawable ILV
•3 ILV that needs vesting period

Lets say I withdrew my Original ILV.

So i only have the 3 ILV that will undergo a 12months vesting period.

After 12 months of vesting, how many ILV will I expect to have?

A. 6ILV
B. 3ILV

Will the 12 months vesting period make my vested ILV grow? (6ILV)

Or will it stay as it is?(3ILV)

[silent cedar]

When you claim ILV rewards it is staked and then earns reward. It is staked during the vesting period.

[long sinew]

So when I claim rewards as ILV, they will automatically be staked for 12 months? (Aka Vesting)

[silent cedar]

!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

[long sinew]

Ohhhh. Whats gonna be its weight? 2x as well? (Since its 12 months)

[silent cedar]

Yes

[long sinew]

Yikes. So, if I have 3 right now, and will become 6 next year, and when I re-staked my original ILV together with my vested ILV, thats 6x2 in 2 years?!?!?! Omg

🤑🤑🤑🤑

[silent cedar]

Not 6 though. APY for ILV pool is like 40% right?

[long sinew]

Oh. But I remember seeing a weight of 2x when I locked it for 1 year 😔

I think its 40% if you only locked it for 6mos

[silent cedar]

Right, check pins on this channel to see calculators to help with sorting out details.

[mystic igloo]

how much ilv would i need to stake for it to be worth it

[vapid thorn]

Woah! That gas!

[royal solstice]

Weight is revenue distribution. APY is yield farm returns.

[ornate cypress]

Weight is how much your tokens are worth while locked up. The heavier the weight the more your tokens count for. That's why you get double the apy if you stake with 2.0 weight

50k with 2.0 weight gets rewards as if it's 100k

[olive jungle]

I just learnt about gas prices and all, so I want to ask a question.
I want to stake about $200 is it worth it? considering I stake when the gas is low?

[thick kraken]

not worth it imo

I think gas is $100 to $160. If you're going to stake in the SLP pool, you'll pay this twice - first for swapping to SLP, second for staking it. that's $200 right there in gas fees, 100% of your investment. then before that you have fees you'll pay if you transfer your ILV and ETH pairs from Binance, which I recon would be another $100.

so to stake $200 worth of SLP, you'll shell out about $500. And remember, when you claim rewards you'll pay gas fees as well. V2 will be released but til then we don't know how much gas would be.

Takeaway is basically you buy ILV instead of paying it for gas. So, is it worth it staking $200 worth of SLP over just holding $500 worth of ILV tokens? this is up to you to decide

[gloomy gazelle]

Good to see you around. It’s been awhile

[thick kraken]

happy you feel that, I'm lurking here from time to time but the amount of backread is too much for me lol

[olive jungle]

oh my gas is very expensive, I guess I need to ask my parents for more money 😦 btw is SLP pool is core pool?

[thick kraken]

that is correct, two pools in core, SLP and ILV. Flash pools are completed from what I see, it's just core now

[gloomy gazelle]

Lol it is insane

[gloomy gazelle]

Gas should go down on the weekend.

!gas

[woven ibex]

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

[knotty river]

:fuelpump: Current gas prices

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

109 Gwei

Average :person_walking: | **3 minutes**

110 Gwei

Fast :zap: | **15 seconds**

110 Gwei

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

[thick kraken]

my trust in this project has paid off really really well. the amount of rewards even if I sell for discounted at sILV would be way more than the initial capital I put in. Im happy we're all in this together my man

[olive jungle]

thankss

[gloomy gazelle]

https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit?usp=sharing if you make a copy of this document you can figure out what the fees would be at different gwei

Wgmi

wAgmi

[olive jungle]

I know this is kinda off topic, but is there a link, video or anything proofing that illuvium is not a rug pull?

[gloomy gazelle]

There’s this discord… there’s anything in #🎨〕community-content

What would serve as proof for you?

[olive jungle]

idrk I just want to convince my parents

[gloomy gazelle]

Basically I knew it was not a rug pull from the first moment I read about it. That it was a project being started by the brothers of Kain Warwick.

Ok. Do you want like a live video of the founders or like an article from a financial magazine?

[olive jungle]

financial magazine would be nice

[gloomy gazelle]

@mint cave we can help kids find the info they need. It’s a fair question for parents to ask.

[gloomy gazelle]

I think there’s something good from a little while back

[mint cave]

ahhhh didn't scroll up for context 😆

[flat brook]

As a noob here, I have some more questions.

is it still a good idea to be buying ILV token now?
And where do you guys do your transactions?
And are you getting ILV or sILV?

I can't afford to stake yet, but buying the ILV coin is still a good investment, right?

[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]

!buy

[woven ibex]

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

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

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

[gloomy gazelle]

A lot of what you are asking for is financial advice. And that won’t be shared here. Sure we are fans but we don’t know the future of the token price. Comparing market caps to other projects may be helpful.

Check the pins in here for a lot of more in depth info as well

[flat brook]

Appreciated once again!

[gloomy gazelle]

https://youtube.com/playlist?list=PLuTQau_zXjlEV2niELD1mn0lfYlXOkoCr this playlist has a lot of good things in there as well.

[mystic igloo]

In order to stake, my computer needs to be turned on at all time after i add the token to the pool? Also must i add 1 whole token or can it be partial ILV? How would i go about figuring out the minimum amount to needed to make staking worth it?

[gloomy gazelle]

You do NOT need to keep your computer on or even keep your wallet connected to the internet. It could be partial coin. But currently that’s not likely enough to cover the fees you will need to pay.

Check the top pinned document and run some calculations.

!staking @feral kindle

[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

[mystic kelp]

I just got a message from “ illuvium bot” telling me there’s a 1000% apy for eth, be careful out there

[gloomy gazelle]

Yeah there’s a lot of scams in DMs

[feral kindle]

Wait it's a scam?

[gloomy gazelle]

The DM is a scam

Don’t connect

[gloomy gazelle]

This is real

[feral kindle]

I almost did... I should turn off DM. That's why I came here and ask for staking. What's apy atm

[gloomy gazelle]

I hadn’t checked for a week or so. But it’s still looking fine

!lp has significantly higher tx fees but it’s worth it if you have enough liquidity

[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

[radiant trout]

What makes the APY for SLP pool so stable and even go up sometimes? Some weeks ago it was around 398%. I thought it was decreasing by 3% every 2 weeks

[clear cape]

#🥩〕staking message

[radiant trout]

So the price of ILV can make the APY go up again? I would have thought the APY would be a lot lower now that there is so much TVL. Not that I’m complaining, just trying to understand

[gloomy gazelle]

The amount of ILV being distributed does go down. But the dollar value of those distributions goes up because ILV value has gone up.

Also as ILV pumps faster than eth the SLP stakers are experiencing IL and the value of their SLP tokens relative to the value of the ILV rewards they will get is also going down. (Well really that’s the same thing as what I said above, just said differently)

[radiant trout]

Thanks. I’m just not understanding the actual APY% going up from 398% back to over 400%. Am I just hanging myself up on those numbers or is it being explained here as well? 🤯

[gloomy gazelle]

For sure that is what I was talking about

[pale trellis]

Isn’t that from people people removing their stake?

[gloomy gazelle]

No Not always

[pale trellis]

What are the other causes?

[gloomy gazelle]

These things

It’s dollar value. Or ILV to ILV. Either way as ILV outperforms eth there’s less ILV (and therefore less relative value) in each SLP token so the APY is higher.

[pale trellis]

It adds more complexity to my understanding though I like.

[versed bluff]

Is there a price point you see yourself exiting ILV Staking?

Anyone?

[gloomy gazelle]

Whatever the price is after revenue starts to decrease

[pale trellis]

For myself, I want to see a successful game, with adoption and growth. If I see that I’ll be able to calculate my earnings from revenue distributions.

I may continue to stake to earn. Or maybe might need to sell for a big ticket item such as a house.

[cyan wagon]

i sell only when i need money....if not, will keep staked for long

[pale trellis]

You said that too confidently. Like one day the revenue will decrease.

[gloomy gazelle]

😂

False. Only up

[pale trellis]

[gloomy gazelle]

https://tenor.com/view/nftgaming-nftgame-nft-autobattler-rpg-gif-22458897

[abstract junco]

Under 100$ gas would be a good steal?

[gloomy gazelle]

I felt I had to say something and that’s all I could come up with. But even then…

[pale trellis]

Everyone has a plan until they get punched in the face.

@gloomy gazelle I challenge you to a 1 ETH battle 12 months from today.

Put it in your calendar if you accept

[gloomy gazelle]

Lol I am opposed to significant gambling.

I’ll play more like 0.01

[pale trellis]

Haha all good mate.

[gloomy gazelle]

I’ll not have very many illuvials I’m afraid. My time will be more in IZ

But I’ll get what I can

[pale trellis]

Yeah I’m time poor too.

[gloomy gazelle]

Lol I spend a lot of time on my phone lying in bed though. So IZ it is.

oh but when mobile autobattler is out!!!

[long sinew]

Help me do the math!

Staking question.

If I have 3 ILV right now and stake it for 4 straight years- I'll restake everything every single year.

2022 (first claim)
2023 (second claim)
2024 (third claim)
2025 (fourth claim)

How many ILV tokens will I have on 2025?

[gloomy gazelle]

Know way to know. Since APY changes. But I think there are spreadsheets pinned in here that can help you do the math

[long sinew]

I'm trying to find those pinned spreadsheets :(

[gloomy gazelle]

https://docs.google.com/spreadsheets/d/1z2co3pS7Yq9Hc86t705tU__d-vGuRp6iTTvHta9gOXE/edit#gid=1097421284

[gloomy gazelle]

You’ll need to make a copy of it to make edits

[ashen hazel]

I staked ILV, but now I can't unstake... I think I might have locked it for a certain period, but the dashboard doesn't say for how long... what's the best way to find out how long it's locked?

[cunning perch]

Try "vesting" section

[olive jetty]

I'm an illuvium oyster. *cries in the corner

[clear pelican]

how do i see my sILV on metamask?

[cunning perch]

Add the token address manually

[woven ibex]

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

[half light]

Arg this is so annoying. I have just been charged 3 extra gas fees for NO reason. Because the rewards "have to be claimed before staking more sushi LP" I already claimed the rewards, and then seconds later there were new rewards which had to be claimed again. it did this 3 times. so I'm down 450 bucks! this is 13% of my sushi LP token

[cunning perch]

This has been the case since the beginning of staking and V2 is planning to fix the issue: #🥩〕staking message

[cyan rampart]

It's worth noting that you shouldn't try to manually claim rewards first - Just initiate the transaction to stake, it will automatically claim rewards for you.

[half light]

Yea i wish i knew this before 😦 It's so much money

[cunning perch]

I understand your frustration. Hopefully the rewards you get will compensate all the gas you pay and more

[clear cape]

Trust, lots of people, including myself been through this exact thing in the past haha

[summer pewter]

Hi all, i tried staking a while ago and transaction was approved to this address: 0x514910771AF9Ca656af840dff83E8264EcF986CA. Now I dont see any staking on ILV website and my LINK (what i wanted to stake) is stuck in my metamask. Any ideas? I cant sned LINK back to my binance or anything. Although my metamask tells me i have LINK available. Please help!

[half light]

When is v2 releasing? Are there any docs about this?

[cunning perch]

It will be implemented before the land sale. No fixed date yet

[cunning perch]

The revised proposal will be published even sooner. It's already being audited afaik

[half light]

Great, thanks for the help

[cunning perch]

Hey. SO you approved, that means your ILV should still be in your wallet right? Also, Link pool has ended. Staking is not possible for it

[summer pewter]

Can i send you a picture?

[cunning perch]

Before that, confirm this for me:

you have approved ILV and now your ILV is still in your wallet right?

[summer pewter]

I dont have any ILV, because i think the approved staking never went through

I mean I do have ILV but that I bought on binance 😉

[cunning perch]

Approval never takes out ILV from the wallet. So where are your ILV now? in Binance or in your MM?

[summer pewter]

ILV is in my binance. My problem is that the LINK I approved to stake for ILV on 8 oct seems stuck between my metamask and the ILV website

My Metamask says I have the LINK in my metamask account, but i cant send it anywhere. It also shows an Approve LINK spend limit to this address: 0x514910771AF9Ca656af840dff83E8264EcF986CA

[cunning perch]

Ah so the issue is not ILV. So your LINK is in your wallet? Do you have enough ETH to send it? cuz approval is just a normal contract. It doesn't do anything to tokens.

[summer pewter]

That might be it, thank you very much. Ill check into it!

[cunning perch]

No worries. If there were any more issues let us know and we'll help you 🙂 (btw we will **never **DM anyone, telling you this in case scammers tried to contact you)

[echo quartz]

do you guys think gas will go lower than 80

[cunning perch]

We don’t know, but we sure hope so 😄

[mint cave]

https://gfycat.com/foolishvibrantkissingbug

[echo quartz]

yeah idk if i should wait for sunday and hope for even lower

sunday is probably my friend

[jovial moat]

Is there a Sushi LP contract for meta mask to see my slp?

[cyan rampart]

!contract For future reference these are pinned in #💰〕token

[woven ibex]

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

[jovial moat]

ty brother

[prime cave]

Staking, claiming and withdrawing is ridiculously expensive. Is there a plan to move this to a Layer 2 solution?

[cunning perch]

Not layer 2 for now, but Staking Version 2 will aim to fix lots of gas issues

[pulsar thicket]

Hi guys, my MetaMask crashes when I want to claim rewards; is this a know issue?

[brisk surge]

What browser are you using?

[pulsar thicket]

Chrome; I claimed it once no problem

It's also connected to Trezor

[prime cave]

Will the Immutable X integration be only for in-game transactions?

[pulsar thicket]

Ok it worked now

[cunning perch]

For now yes. Future, might change. No confirmation and no promises

[prime cave]

Thanks

[proud merlin]

My ilv has disappeared. It’s no longer there, staked, vested. None.

On the ilv dashboard there is a different wallet address.

@cunning perch
Hey dude can you help please.

[cunning perch]

Hey man. You use MM right?

[clear cape]

You are connected with a different wallet address then maybe?

[cunning perch]

If so, check the setting in MM and see which wallet is connected. Disconnect that wallet and then connect the correct wallet that u used to stake your ILV

[proud merlin]

Yeah MM. it’s strange though. How did it change?
How do I change it back?

[cunning perch]

It sometimes might happen. In your MM web extension on PC, check the setting (3 vertical dots on top right) and then “connected website” or something. Check what wallet is connected to ILV. Disconnect it, and then go to ILV staking page, click on “Connect wallet”, choose MM and then choose the right one.

[proud merlin]

@cunning perch
I can’t get it to connect to the correct wallet. I try MM but it does nothing. How do I change the wallet address?
Sorry man. I’m freaking out.

[cunning perch]

Don't freak out. Did you find the setting I told you? Did you see which wallet is connected to ILV?

@proud merlin

here

did you click on this?

[jovial moat]

got to love gas fees

[cunning perch]

It's actually good today. 78, not bad. well it jumped back to 100. I take it back lol

[jovial moat]

I was off on my math and had to clame my rewards 2 times ..😭

But staking 4 SLP now so I'm happy

[cunning perch]

Noice. Enjoy being Rich man

[jovial moat]

Dude I love this project even bought a new computer to play ILLuvium next year ..

[cunning perch]

Oh nice. you are def ahead of me haha 😄

[proud merlin]

@cunning perch
I can’t find that page. I have an iPad. MM is not a browser extension. I don’t see 3 vertical dots.

[cunning perch]

Try using a computer. On phone/tablet MM is limited

[proud merlin]

It’s been working fine for 4 months. Thanks for trying. I’ll Google it again.

[cunning perch]

No worries. Just try using MM extention on a PC and open your wallet there and do what I told you and it will be fine. That is IF you say a wrong wallet is connected to the website.

[jolly pewter]

Me too 😂

[waxen cypress]

What does staking even do

[tidal temple]

how to prepare this game, since not yet launhed?

[coral pike]

!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

[coral pike]

Late Q1 22 for open beta

[tidal temple]

so what are we doing right now.?

[coral pike]

https://tenor.com/view/unamused-cat-over-it-stare-done-gif-14630368

[delicate cloak]

Mostly partying here in chat

https://tenor.com/view/happy-happy-dance-white-people-white-people-gi-fs-white-people-dancing-gif-5556576

[tidal temple]

thank you sir.

[cyan rampart]

!staking Basically, it enables you to collect revenue distributions and farm yield.

[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

[cosmic flame]

when will staking 2.0 be released? before end of year or?

[cunning perch]

Before land. When? Not clear yet

[ember ginkgo]

@cunning perch I know this is not the correct channel. But why and when did you change pfp? You got this one as 1/1 NFT? Did I miss something?

[cunning perch]

Ah no it's just a pic. The scammer that was using my name kept sending me friend request after getting banned. So I changed it. Kinda felt bad to see it. And also closed my DMs, so I will try to keep public from now on.

[finite bear]

anyone here doing axie axs or slp LQ pool?

[sacred cosmos]

#799010390201466880 for the axie portion

[finite bear]

oh soz