🥩〕staking

[sacred cosmos]

But a lot of us stake in SLP pool for ILV if that answers your question

[vagrant patrol]

What is the SushiSwap liquidity needed for? Just trading or is there some other function?

[cunning perch]

!lp here you can find the data

[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

[vagrant patrol]

Thanks, but I'm actually asking why Illuvium wants SushiSwap liquidity. Most of the trade volume is on centralized exchanges, so why such high yield for staking in SushiSwap?

[cunning perch]

Ah no. Most of the liquidity is on Sushi not CEXs. The liquidity on CEXs are small and ppl keep adding to it, but YF takes place on Sushi. And the pool weight is 0.8 to 0.2

[proud merlin]

@cunning perch
It’s sorted. Missed the bloody low gas window though. (A first world problem I’m sure I’ll get over).
Thanks for your help. I should have put MM on my MacBook to start with.

[cunning perch]

No worries. Glad it worked out for you. Yeah tbh MM sux on phone and rocks on PC 😄

[hushed valley]

Hence why I use coinbase wallet 👍🏼 rocks socks on mobile

[haughty saddle]

In your opinion, is it better only stake ILV at core pool or put liquidity for eth?
For lets say around 5k$ budget?

[coral pike]

NFA but I found this answered a lot of questions for me https://www.publish0x.com/ilvfi/the-ultimate-faq-illuvium-slp-liquidity-pool-staking-xrnxvzo

[haughty saddle]

already read it, thats why I am asking for people´s opinion

But thank you of course

[echo quartz]

probably SLP

nothing can compare to paying $400 in gas to get rewards like this 🚀

[cyan rampart]

I'd stake the SLP for sure.

NFA etc. but I staked the ILV Core Pool and have been wishing for months I'd staked the SLP.

[haughty saddle]

If mod says this, then... 😄 thank you, will research little more but yea

[delicate cloak]

Just try and time it for low gas. It's the weekend so now it's the game of "when is the gas the best price"? lol

[trail sail]

I did about 8k recently and it's going well for me (nfa) paid about 550 gas overall though

[haughty saddle]

Since this will be my first staking, now have to find some yt video with tutorial lol

[cyan rampart]

!staking This one is pretty good!

[woven ibex]

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

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

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

[cyan rampart]

The quick text version is: Get equal parts (value-wise) ETH + ILV (plus enough ETH for gas - gas fee calculator is pinned in this channel), provide liquidity on Sushiswap, take received SLP tokens to the Illuvium staking website, stake them, profit.

[haughty saddle]

ez as that

[cyan rampart]

Gas is pretty wild right now too, it seems to go down on Sunday evenings (MST Sunday evenings at least), so a little patience could save you a few hundy.

[haughty saddle]

just like whole crypto, slowest on sunday

[terse mango]

I am quite new to Uniswap V3. Has Uniswap V3's need to use NFT LP tokens made the traditional staking reward/yield farming rewards difficult to implement?

[cunning perch]

That is def not an ILV staking question. You can inquire in #799010390201466880 and someone who knows the answer might help you.

[terse mango]

Will do ty

[shrewd pine]

@midnight geyser Hi Pedro: GM/GA .. Just a note that I have dropped a few DM's for your review when you are free. Thanks in advance for your time @cunning perch

[coral pike]

i am personally staked 100% SLP for 12m but double your budget so not sure if that helps NFA

[coral pike]

should put that in #🚨❗〕report-scammers

[haughty saddle]

12 millions $?
or I am stupid

[ruby fractal]

12 months

For double your budget that'd probably be 10k as you mentioned 5k above

[brisk surge]

haha there is a third option m means month and million and you are not stupid either

I did same, SLP full lock. Works best for me

[gloomy vector]

Are rewards claimed automatically? Or are they restaked??

Also are they only giving ILV as rewards even though I staked SLP?

[cunning perch]

gotta have to claim them manually and pay the gass.

[cunning perch]

you can claim either ILV or sILV with each claim

@gloomy vector Read this to get an idea: #🥩〕staking message

[gloomy vector]

So when claiming is there a way to claim SLP as reward or is it always either ILV and sILV??

[autumn cloak]

Nope. Either ILV or sILV since SLP is half ETH

[gloomy vector]

So to stake more SLP I have to get more on sushi? And if I wanted to stake ILV rewards it would be in normal ILV pool?

[cunning perch]

Already answered you in the other channel 🙂 SLP is ILV + ETH, so you can claim ILV cuz half of it is ETH

[cunning perch]

to add more SLP, then you need to provide more liquidity to Sushi. All ILV rewards will be locked in ILV pool after you claim them

[gloomy vector]

I guess I’m confused as to what happens to the ETH part of the staked SLP?? Not sure if I’m making sense sorry

[cunning perch]

Do you know the concept of Impermanent Loss and why we add ETH + another token to provide liquidity?

[brisk surge]

Staking rewards are in ILV because thats what was minted to be used as staking rewards. The DAO cant just mint ETH so they cant give away ETH. When you claim ILV rewards it is staked in the ILV core pool for 12 months.

[gloomy vector]

Yes I understand that if the price ratio between the two cryptos changes drastically you were better off just holding the separate tokens vs staking them together. The point of such high rewards is basically to offset the potential loss from Impermanent loss. I just figured if you stake SLP…you’d be receiving SLP rewards which would be half ETH and half ILV, so if we’re only getting ILV rewards aren’t we only getting half the rewards since the other half is in ETH????

[brisk surge]

The APY is based on the whole dollar amount you staked ILV+ETH. The rewards are paid in ILV only, but based on the total value of your SLP.

[coral pike]

as others have said I meant months and no you are not stupid if anything it was my fault for being lazy and not typing out months

[gloomy vector]

I see so the rewards are still being paid in full just in ILV alone, so I could trade half my ILV rewards for ETH so that I can get more SLP and restake it ?

[brisk surge]

So $5k ILV + $5k ETH = $10k SLP.

$10k SLP x %400 APY = $40,000 rewards in ILV per year.

This of course assuming that the APY stays the same (it wont)

[gloomy vector]

Also if I locked my stake for the full 52 weeks does that prevent me from claiming rewards until the end of that period ?

[brisk surge]

Rewards accrue every 15 seconds or so. You can claim whenever you want but gas fees are pretty high so make sure the rewards are enough to make it worth the gas. When you claim, the rewards begin their 12 month vesting period.

[gloomy vector]

That example is perfect cuz that’s exactly how much I invested lol, but I’m trying to figure out how to restake rewards so as compound the amount of SLP and rewards earned

[coral pike]

It would suck if you were to not pay attention to gas and end up $200 in gas for a $50 reward

[brisk surge]

The only way to compound into SLP would be to claim sILV, sell it on the open market, and then use that ETH to get more SLP. This tends to only be worth it with very large stakes (like $50k plus)

[craggy field]

Messed up the reply... as always...
But if you do this then you dont take into account price change. I always try to use concrete ILV numbers.
5ILV + 5ilv in Eth= 10ILV
5ILV + 50% Eth -> 40ILV with 400%APY after 1 year. This does not take into account the Dollar fluctuations so a bit more accurate than using dollars as rewards :)

[gloomy vector]

So I couldn’t claim the ILV, change half back into ETH, and then provide that amount back into SLP for staking ?

[brisk surge]

No you have to wait 12 months for the rewards to unlock if you claim ILV.

The good news here is it keeps the SLP pool volume fairly low and the APY high. If everyone could compound back into SLP the APY would probably be half of what it is now.

[gloomy vector]

I get that but at the same time if price increases then you make significantly more than expected

[thick kraken]

and theoretically, significantly less rewards too. That 40 ILV can easily be 20 ILV after a year because of more people in the pool

[gloomy vector]

So if I claim rewards monthly (with 10k invested it’s about 3-4K in ILV) I can’t touch those rewards for 12 months after I decided to claim them???

[brisk surge]

Correct.

[thick kraken]

personally monthly ILV rewards go down by -20%

[craggy field]

Taking my SLP + rewards and ILV investment alltogether I had about 0.88x my rewards in ILV from last month. So a 12% decrease.

[gloomy vector]

And since I’m claiming monthly it’s 12 months after each individual claim? So basically a year from now il be able to pull about 3k a month out of rewards, assuming ILV is same price as today

[gloomy vector]

That makes sense but over the long haul the idea is that ILv price will skyrocket with release of game…. So although you get less rewards they will be worth more

[craggy field]

Yes but i honestly only care about the amount of ILV because im not planning on selling anytime soon. Who cares if it is worth 10 or 100K$ i want that Revenu distribution that is tied with the amount of ILV you have.

[brisk surge]

If you are really set on reinvesting your rewards into SLP you could save up rewards until the land sale. If before the land sale the sILV price comes closer to the ILV price, You could claim and sell sILV for ETH, then use that to get more SLP.

Currently I dont think sILV conversion is worth it for your size stake since sILV is selling for about 30% of ILV price right now. If it comes up to like 70% it could be good.

This strategy would be pretty risky as it relies on the market moving a certain way which is in no way guaranteed.

Def make sure you understand all the moving parts here if youre gonna consider this.

[thick kraken]

you can also try buying land and flipping it to get at least 1x ilv silv ratio :) NFA

[cyan rampart]

The freakin' gas to do sILV to SLP consistently is 😡 as well.

[coral pike]

@gloomy vector Also FYI on sILV is meant as a in game only coin. because its not official sILV was never meant to be traded its not "supposed" to be traded everything outside 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

[gloomy vector]

Definitly not worth the loss at that ratio it seems like? So would it be better to wait for large reward sum before claiming, since either way you have to wait 12 months I don’t see the upside to claiming early if your paying several Gas fees for several transaction vs just one fee one time?

[coral pike]

yes but remember ILV that is claimed does earn in the core pool for that 12 months at 2x weight for revdivs

[gloomy vector]

So claimed ILV gets staked in ILV pool ??

[thick kraken]

V2 will change the game when it comes to claiming so watch out for ita release

[brisk surge]

If you claim ILV you will get some compounding from the ILV pool, It also starts your 12 month vesting when you claim. But claiming more than once a month would probably be a waste of gas.

There is a spreadsheet in the pins that can help with estimates on rewards and efficient claiming.

[coral pike]

yep

[gloomy vector]

If I were to do that it would be monthly for sure, I’m earning a little over 3ILv monthly from rewards just wasn’t sure how the claiming and restaking worked

[brisk surge]

You might want to check out the medium articles on staking, It might fill in some of the blanks for you.

[woven ibex]

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

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

[gloomy vector]

Thanks a lot for the help guys!

[rancid pine]

Yes, but the moment you claim them they go to the Ilv stake and start earn you rewards with the apy of the Ilv pool

[inner sentinel]

whats gonna happen to ILV when eth his 40000k?

[ionic wraith]

Gas fees to stake are so damn high, just wonder if it’s even worth it

[livid light]

I set the GWEI to a lower level and just let it ride

usually within about 30-45 minutes it goes through at about 100 GWEI

[rancid pine]

That depends on how much you're staking, obviously if you have 1 ilv or less and you need to pay 500$ to stake its not Worth it, but if you have 100 Ilv then thats nothing

[river pewter]

is possible to move the staking contracts over to Optimism (for less gas fees) or is plan to move it to Immutable?

[rancid pine]

They're planning a V2 for staking that will bridge to avoid the fees, but don't know the release nor the details

[livid light]

Looks like V2 moved to December now but I do not think anything has been approved to dates

[potent sapphire]

Just curious what the average gas cost would be staking some ILV. I only have about 1 and a half ILV to stake but some people said gas can be as high as 300.

[gloomy gazelle]

Create a copy of this document and you can use it to determine cost if fees

https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit?usp=sharing

[gloomy gazelle]

It’s not entirely related BUT if you are staking in the SLP eth/ILV pool it will make a difference for you.

!lp

[woven ibex]

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

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

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

[gloomy gazelle]

https://www.publish0x.com/ilvfi/what-the-dollar-and-is-impermanent-loss-and-why-do-i-care-il-xnxkekg this article is good too.

[frail sundial]

I have a question about the dashboard. What exactly is the your ilv balance? Is it from overall amount staked or?

[brisk surge]

ILV balance is the amount in your wallet.

[frail sundial]

Makes a lot more sense lmao thanks for the help

[sturdy crest]

!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

[sacred vigil]

where do i get the sushi LP token?

[woven ibex]

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

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

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

[severe walrus]

hello, just wanted to ask. I'm thinking of staking for sILV. what would you say is the minimum capital to start staking?

[brisk surge]

I think probably around 1 ILV minimum to be even slightly effective for the gas.

[severe walrus]

true. so for sILV it will have to be 1 ILV and equal # ETH right?

[woven ibex]

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

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

[brisk surge]

check out the staking articles (28 and 29). It has a good summary for you.

[severe walrus]

Cheers mate. I need to do more research on Illuvium. I've only been exposed to Axie Infinity ecosystem lol.

[coral pike]

this also has some good info https://www.publish0x.com/ilvfi/the-ultimate-faq-illuvium-slp-liquidity-pool-staking-xrnxvzo

[brisk surge]

Yeah its a tad more complex than axie. The whitepaper was the first of those links and it breaks down the overall tokenomics.

[potent sapphire]

Is there an ETA on staking v2? Looking to stake a little over 1 ILV but current fees will almost negate my gains

[autumn cloak]

Late this year if not next year. Still waiting for an official IIP, then council approval, then audits from Quanstamp

[potent sapphire]

Ok, might just have to wait till gas is low and try stake as much as possible

[severe walrus]

I'm wondering if i should just buy and hold some ILV tokens till then (gas fees go down). it's already gone through some small correction after facebook's meta boost. Do you think it's a good strategy?

[livid light]

Gas right now shows 106 which is pretty low at this time

Or really at anytime lol recently also depends on how much ILV

[coral pike]

NFA if it was me personally I would buy the token and wait for cheaper gas ( is not bad considering where its been) but not for too long you have to consider how much waiting is going to cost you in potential gains as well.

[livid light]

If you doing a token or two then no... if your going 10+ then it will be

[severe walrus]

yeah i only have enough for a token or two. or atleast unless Axie's SLP price goes up haha

[brisk surge]

NFA but you could just buy what you can now and hold it so you at least have exposure to any price appreciation. Then in a couple months if you've bought more and are up to like 6-10 ILV you can start looking for cheap gas. V2 staking might come out some time in the near future so keep an eye out for that as it should help reduce the gas fees a bit.

1 ILV staked for 2 months in the core pool is only .06 ILV in rewards so you wont be missing out on too much compared to what gas will cost.

[severe walrus]

yeah I'm about to grab some on Binance. thanks for all the help!!

[sacred cosmos]

You should take this to #799010390201466880 considering this isnt illuvium related at all.

[gloomy gazelle]

!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.

[frail merlin]

I’ve been waiting for my ethereum to send over from my coinbase wallet to metamask. It’s been several days now. I don’t know what to do anymore. It already took the funds out of my coinbase wallet

[pliant whale]

1. confirm the address you sent to on Coinbase. 2. look up the transaction on etherscan, confirm details. 3. confirm you are looking at correct eth address again in metamask

[undone charm]

can you add more ILV to what you've already staked?

apologies, am super new

[coral pike]

go thought the same process as the first time it will have a new locked date but will be added to the same pool

[undone charm]

🙏 many thanks friend

[gloomy gazelle]

When you start to add more you will be given a transaction to claim your pending rewards. So don’t claim before you add more. Just start to add more and it will have you claim as part of the process

[undone charm]

right on, thank you man

[pearl walrus]

i just staked Ethereum for the first time is it supposed to not show up in coinbase wallet anymore?

also it isnt showing up in my dashboard

[next ruin]

You can't stake Ethereum alone in the Illuvium ecosystem. Are you providing liquidity on SushiSwap?

[pearl walrus]

so did i just lose 6k ethereum?

[vital frigate]

U might just got scammed

[pearl walrus]

omg

[gloomy gazelle]

Never trust DMs

!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.

[next ruin]

staking.illuvium.io is the official staking site. There has been a scam going around without the first '.' along with a couple other variations - very sorry if this is the case for you.

[pearl walrus]

i was on the site

[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]

Not likely if you just staked ETH.

[next ruin]

Nope. Missing the first '.' just as I said.

[gloomy gazelle]

Yeah don’t post the scam site link in here

[pearl walrus]

that was the link can someone confirm omg

[gloomy gazelle]

A scammer dm’d you the link.

It’s all over the place in #🚨❗〕report-scammers

[next ruin]

Very sorry, dude. 😢

[pearl walrus]

wow

i want to die

[vital frigate]

You should have asked here first before staking anything

[gloomy gazelle]

You’ll get through this

[pearl walrus]

it was all my investments

[vital frigate]

Where did u get the link? Dm?

[gloomy gazelle]

That’s not gonna be helpful at this point

[vital frigate]

I mean ask here for the next investment

[undone charm]

omg...is there any recourse?

[gloomy gazelle]

Not really.

There’s not regulation or insurance on stuff like this.

[gloomy gazelle]

You can report what happened to authorities but I’m not sure what that process would look like and it doesn’t seem likely to amount to much.

There should at least end up being tax relief. Not sure what that would amount to.

[frail merlin]

I did all of this. On etherscan it says it can’t find the txnhash

[gloomy gazelle]

Wait is it Coinbase wallet? The defi wallet? If so then the issue may be that the gwei was set so low that the wallet hadn’t even pushed it to mainnet yet.

[frail merlin]

Yeah it is. And that is what happened at first. Then It was taking too long so I tried to do it several more times. I don’t know what to do about that though. I’m pretty sure my wallet is just backed up now

[gloomy gazelle]

Oh you’ll have some pending transactions on etherscan I’m sure.

I don’t know how that wallet works. But I know what I’d do for a metamask wallet like that.

https://metamask.zendesk.com/hc/en-us/articles/360015489251-How-to-speed-up-or-cancel-a-pending-transaction method 3 is my go to.

[silk folio]

Is this a scam? Because I’m already staking, and was not 1000% apr

[celest river]

Scam - please head to #📣〕announcements and follow Wendy's post to get the ID and post it in #🚨❗〕report-scammers

[keen ridge]

Yes its a scam

[brisk surge]

yes Scam

[solemn kindle]

Hey, I'm a little confused. I have equal amounts ETH and ILV, and I did the liquidity add in sushi.com, but I can't stake the sushi LP pool still. Any ideas?

[coral pike]

its not done on the sushi site are you on the offical staking site?

[solemn kindle]

Yes, and I clicked the link it provides to add liquidity

[coral pike]

https://staking.illuvium.io

[solemn kindle]

Ya, it would not let me stake, so I clicked the little i for info and it said you can exchange for tokens on sushi.com

[celest river]

Have you converted the ETH/ILV to an SLP token already?

[solemn kindle]

I think that's where I am missing, just click the sushi icon and convert both the ETH and ILV?

[celest river]

So when you have the ETH/ILV you have to go to Sushi and go to the liquidity tab to put in equal amounts of ETH/ILV.

[solemn kindle]

Ya, in my input I put the ETH and ILV and added the liquidity, is there a next step after that?

[celest river]

Then you will have to sign transactions with Sushi to get the SLP token. Once the SLP token is in your MM you can go back to the Illuvium staking website to stake the SLP token. If you can't see the SLP token in your MM check the pinned posts for the SLP token address to add it as a token.

[ancient ginkgo]

gotta admit this one is NOT low effort

[celest river]

That is a scam. Please follow the pinned post in #🚨❗〕report-scammers to post the ID.

[ancient ginkgo]

notice the absence of dot between staking and illuvium

[solemn kindle]

I think I did sign, and still nothing.

[celest river]

Have you got enough ETH to pay for the gas fees? They are super high right now.

[solemn kindle]

Mind if I DM you so we don't take up the space here?

[celest river]

Rather have the transparency here - other's may have similar questions or benefit from the discussion.

[solemn kindle]

Ok, so I did the liquidity, signed it, and got a transaction hash and a log and info, do I need to do it again with the eth/sushi and ilv/sushi?

[ancient ginkgo]

did you chack if you have SLP in your wallet?

[frail sundial]

no not eth/sushi just eth/ilv

[solemn kindle]

the slp is not in my wallet that I know of, I still have the ETH/ILV

[celest river]

TBH it's much easier to watch one of the staking videos on Youtube. Volkin has done one that goes step by step (without actual transactions). If you have any further questions after watching one of those jump back in here and let us know.

[solemn kindle]

I did everything on the video, but I still can't stake.

[celest river]

Have you already checked your MM wallet to see if the SLP token is in there?

The token address is in the pinned messages of this channel.

[edgy sandal]

i have bought 8 sILV on market and works. question is how do the sILVs get into the market ?

[celest river]

sILV can be claimed as a reward when staking ILV. If you claim your staking rewards as ILV they get locked up for 12 months. If you claim sILV as your staking reward it is immediately available. Because it is a token, it is able to be traded freely. However, there is no official Illuvium sILV market. That's why it is only on the secondary markets.

[edgy sandal]

yep i know that - tks. question is how does it get into secondary market ?

[celest river]

People who claim it are able to do with the sILV what they want, transfer it to another address, provide it to an exchange to sell on the open market.

[edgy sandal]

ok thnaks

[solemn kindle]

Is it a problem because I am using coinbase?

[vital frigate]

MM?

[brisk surge]

Coinbase wallet or coinbase?

[solemn kindle]

cb wallet

[brisk surge]

I think that should work. Do you have any pending transactions on the wallet?

[solemn kindle]

No, now I have the SLP but it won't approve it to stake. I'm a total noob, i'm sure you could all tell.

[delicate cloak]

Do you have ETH to pay for gas?

[solemn kindle]

yes

[celest river]

Metamask

[brisk surge]

so when you go to staking -> Core -> Sushi LP and push stake a little window will pop up that shows 'balance' Is it showing your SLP in this tab?

[solemn kindle]

Yes, I get a prompt that says you need to approve first, and every time I click approve it has an error.

[brisk surge]

Try disconnecting your wallet and reconnecting it. If you are on chrome I find it helps to use an incognito window.

[celest river]

This. Another option is to clear cache too.

[delicate cloak]

Sometimes stupid things like a browser or PC reboot can fix stupid errors.

[solemn kindle]

Ya'll are champs... I am staked

[brisk surge]

Glad we were able to help.

[celest river]

Welcome to Valain my friend, welcome.

[coral pike]

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

[solemn kindle]

I did the incognito window

[brisk surge]

My wallet wont disconnect for some reason so I have to do this every time I want to interact with staking. On the upside I never have to log in to view my dashboard on my normal chrome window. I think its a 'feature' of mobile wallets.

[ruby ridge]

hey guys, seeing that ILV is kinda high now, would it be worth to stake in SLP if it's just 1-1.5 ILV+ equivalent ETH?

[gloomy gazelle]

Transaction fees for dealing with SLP staking transactions are gonna be 2-3x higher than simply staking ILV. so you’ll probably need more for it to be worth the gas costs.

[ruby ridge]

alrighty, will accumulate more ILV first, thanks!

[gloomy gazelle]

Check some of the pinned spreadsheets for more info on transaction cost and rate of return

[gentle axle]

Tbh, I just staked 1.15 ILV +equivalent eth worth of SLP and in about a week I had accumulated enough rewards to justify the fees. I see it as "how many ILVs will I have in 1 year, regardless of how much fees I paid" because I simply want as much ILV as possible by next year

[gloomy gazelle]

But if you could be buying more ILV initially instead of paying for fees… there’s just a balance to find

[ruby ridge]

I see, that's one way to look at it too. since it's already locked for a year

[ruby ridge]

very true. depending on how much prices of ILV fluctuates

[gloomy gazelle]

@potent sapphire

Make a copy of this sheet to help estimate your fees. https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit?usp=sharing

It should not be 21,000 limit.

[potent sapphire]

Ok, I'll do that

[gloomy gazelle]

It’ll be more like 350,000

Staking is expensive

[potent sapphire]

Yeah, got it

[gloomy gazelle]

If you have questions someone should be able to help out. In here publicly. Just don’t trust any DMs

[warped anvil]

That amazing feeling when you try to claim your rewards when gwei is at 70, only to have the transaction take 30min while the gas spikes to 130 😦

[radiant aurora]

Do I get this correctly? If you stake ILV, the yield will be in more ILV, but this yield is not immediately available, and can only be claimed after it is staked for 12 months?
@celest river

[celest river]

Yeah so the way it works is that your rewards accumulate in your staking portal, you claim it periodically, but this requires gas.

There are two options - claim in ILV (which is locked for 12 months earning more rewards) or claim in sILV which is immediately available and can be used for in game purchases (but does not get the benefits of ILV in terms of staking, governance and revenue distribution)

[potent sapphire]

If a claim is made for sILV are the gas fees still there?

[celest river]

Yes, at the moment they are.

[potent sapphire]

But not in the future, when immutable X is implemented?

[celest river]

Potentially. Waiting for the staking v2 IIP to be released to confirm - but I doubt it will remove it completely.

[potent sapphire]

Sounds good 👍

Even any reduced gas fees would be awesome with the nutty costs recently

[radiant aurora]

so technically it's never possible to actually claim all the reward ILV that you have earned so far? (because you first have to stake the reward for 12 months, which in the meantime will yield more ILV, that you can't claim again yet)

and sILV cannot be traded?

[potent sapphire]

sILV can be traded and is currently listed at very discounted prices on some platforms but is not endorsed by the DAO and is at the buyers risk

[celest river]

sILV can be traded on the secondary market (unofficial and not supported) - it is currently trading at around $380 USD. But in terms of in game value it is equal to ILV's token price.

When staking rewards end in 2024 the last 'locked tokens' will be set to expire in July 2025. After that point there will only be revenue distribution which is paid in ILV that is immediately available.

Also, any rewards you get from staking in terms of revenue distribution will also be immediately available in the interim.

Depends on the pool you're staking in and the current GWEI.

This cannot be calculated with any certainty. GWEI is tied to ETH. So it will depend on current value of ETH rather than any arbitrary USD value.

[pallid cosmos]

Anyone from South africa 🇿🇦, and have you used Luno to stake

[half light]

Arrrrg please help me.. I am trying to stake my SLP token and have tried twice now after wasting tonnes of money on gas. The transaction gets dropped and then when i do it again it makes me "claim rewards" over and over. I've lost like 500 bucks on fees already

[sacred cosmos]

Oh man, do you click on staking or do you click on claim? Youre supposed to click staking so it triggers the claiming of the two rewards pool (ILV and SLP). You need to complete both in succession before you can stake.

[gentle axle]

Hello, where can I find some information about ILV and taxes? The staking, reward, vesting etc.. is a bit of an unusual concept which my government has not made any description about. They mention rewards (like Cardano rewards) are reported as taxable events, but technically Ilv never gets back to your wallet until you claim?

[sacred cosmos]

Even if you claim ILV it doesnt go to your wallet as it is vested (or locked) for another 12 months. Its a different setup for claiming sILV which goes to your wallet immediately

[gentle axle]

Yes exactly, but some governments tax you on the unrealised gains you have made in yield farming etc.. so you would still have to declare how much you made

[sacred cosmos]

Correct, so it depends on your country's tax laws as to what is considered a taxable event. It seems youre aware of your own tax laws and should already have a good idea how to tackle your tax issues.

[gentle axle]

Cheers, well they simply do not mention anything about yield farming. Weird, I will have to investigate with a tax adviser. Thanks 👍

[half light]

I am clicking stake on SLP pool and it's doing all 3 stages but AGAIN it is getting stuck. 18 mins in and transaction hasn't gone through it's basiclally stealing my money at this point

It already has done the Claim ILV both stages, but wont finish the stake SLP

Yea support please help me. This is not right, I cannot stake and it's basically taking my money over and over. Firstly, how can the smart contract not first check if you have already claimed rewards in the last 24 hours before staking, or at least check if ILV rewards are less than 0.1 before making you do 2 transactions. Now.. again for maybe the 4th time i have claimed an ILV reward of 0.0004 or something, and then the staking transaction fails. This has cost like 600 bucks. I don't have more money to waste on transaction fees.

[celest river]

Have you already got some tokens staked?

[sacred cosmos]

Do you have more than enough eth for the last transaction? If its pending it means you had enough eth for the minimum but not the maximum range of the transaction

[fast goblet]

if i claim my very first slp rewards are these 2tx as well? cause i don't have ilv pool claims yet. thx in advance

[warm knoll]

Usually how i do it it's that i directly try to stake SLP. Then it ask me to claim. You validate the transaction of claiming then staking and it's done.
Never try to claim manually before trying to stake (because yhea i guess between the 2 actions you already got some reward 0.0001 ilv smth).

[sacred cosmos]

Should just be 1 for claiming since you have no ILV rewards pool.

[half light]

Yes that is what i did

Firstly, I did manually claim actually but that was only 1 wasted transaction. Once i found you don't need to manually claim i had 3 failures from staking directly which does both 1. Claim rewards and 2. Stake SLP

[vital frigate]

What web do you use for gas tracking?
The best one

[cunning perch]

https://etherscan.io/gastracker or if you want a cute one, then https://txstreet.com/v/eth

[vital frigate]

Other web show very high gwei, i don't understand the diff tho
And the estimated time is longer

[cunning perch]

I personally use the former. You can also use the gas bot. It's not THAT updated, but very close

[vital frigate]

Former?

[cunning perch]

I sent you two links. I mean the first one.

[vital frigate]

Owh ok, thx btw

[cunning perch]

anytime 🙂

[sturdy crest]

!staking

[woven ibex]

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

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

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

[cunning perch]

next time please use #👑〕bot-commands if you have to use bot commands. Thx

[sudden flint]

What type of rewards u get from staking and how much do i have to put in? do i get it back?

[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.

[sudden flint]

gas is eth?

[cunning perch]

Gas is piad in form of ETH

[sudden flint]

so it aint going to be cheap right?

[cunning perch]

Nope. Not for now. Later it will be minimized as much as possible

[sudden flint]

if only it wasnt on eth blockchain i would invest since im not rich

[tardy swallow]

Hi, this question has probably been asked many times before.

We know that now when claiming rewards in the ILV, there is no other option than to collect the rewards from the LP pool first and then from the SLP pool.
Are there any plans to collect prizes as it is in the case of sILV - here you can pick up from any pool in any order and this is a good solution.

For example: I received sILV from the LP pool - now if I would like to receive ILV from the SLP pool - it is not profitable, because ILV is always received from the LP pool first - in which I currently have nothing, because I received sILV .... where makes sense here? I would like to decide on the receipt of ILV from each pool separately

[sturdy crest]

Sorry, I didn't realise

[cunning perch]

V2 will try to lower gas costs, but to tremendously drop it, we need ETH 2.0 to fix the gas scaling issue. Aside from that, you can always buy ILV and HODL and sell when it goes up. You don't have to necessarily invest and you def don't need it to play the game.

[clever swan]

Question: One of my slp stake which was locked for 3 months just got unlocked. The 'locked' button now says 'withdraw'. If I withdraw the stake to restake it for 1 year, how many different gas fees am I paying?

Is it:
1 - for withdrawing the slp tokens back to my meta mask.
2 - to claim my ilv stake ilv rewards.
3 - to claim my slp stake ilv rewards.
4 - to restake my slp tokens.

So is it basically 4x I am paying gas fees or am I doing this wrong or leaving something out?

Also, does anyone recommend I just leave the stake and receive the lower weight until stake v2 comes out?
Any feedback or tips would be appreciated.

[cunning perch]

1 gas to claim rewards (might need 2 gas here), 1 gas to withdraw, 1 gas to claim your rewards again (tiny rewards), 1 gas to re-stake....

[clever swan]

When I withdraw is the slp tokens going back to my metamask wallet?

[vital frigate]

When will ETH 2.0 come?

[cunning perch]

withdrawal yes, it goes to your wallet. 🙂 (your SLP)

[cunning perch]

next year, some day.

[clever swan]

are you dm'ing me right now?

[cunning perch]

Nope. I never DM

[clever swan]

there's a guy with your name and profile pic dm'ing me right now lol

[cunning perch]

Please report his full ID in #🚨❗〕report-scammers the guy wants to steal your SLP pretty bad.

[vital frigate]

What is this phase 0, 1, 2?

[cunning perch]

everything can be delayed. Planned = potential delay

[vital frigate]

I see, thx, hope it release in phase 0

[clever swan]

this is 6x gas fees. omg

[cunning perch]

Yeah, well gas is at its lowest today. Hasn't been at 80 for some time

[clever swan]

bc I have to claim slp and ilv rewards twice

[cunning perch]

yeah I understand. I have one suggestion though if you want 🙂

@clever swan V2 is aming to fix these many claims that you have to go though. Still idk if that would fix it by the time you migrate, but there is a chance that it might get some stuff fixed. If you can wait for some time, maybe it might be worth to read the proposal, but I'm telling you that it might not help you at all cuz you are withdrawing from V1. Still might have to go through all the procedure later. It's just a thought and might not work for you at all

[clever swan]

so you're saying don't withdraw and restake now and see if v2 addresses some of these issues and do it when it gets released hoping it helps. Mean time just collect the rewards at the lower weight.

[warm knoll]

Hey Arash how you doing ? Btw at the end of the YF or when we wanna withdraw. We need to exchange our SLP for ETH/ILV ? How are we doing it ?

[cunning perch]

yeah kinda. Even if your rewards are not that much, that waiting might pile up more to be worth the claim. But all in all it might not work.

If V2 works (this is my thoughts), then you click withdraw (pay 2 gas for rewards and 1 gas for claim) but then you just restake without having to claim rewards again cuz V2 has fixed it, saving you one claim.

[warm knoll]

God I m talking to you and straight up got a scammer with your name adding me ...

[cunning perch]

Hey man. Yeah if you withdraw, you go to the same page you added your ILV + ETH, and click on "remove" and you get back whatever that is left from your ILV/ETH

[cunning perch]

yeah. He's apparently stupid haha 😄 cuz I'm right here

[warm knoll]

You're too popular around here

[vital frigate]

Report #🚨❗〕report-scammers

[warm knoll]

i know no worries 😉

[vital frigate]

What day is the cheapest gas?

[clever swan]

If I don't withdraw I just keep collecting my slp rewards at 1.2x weight even though it is unlocked?

[warm knoll]

Whatever that is left ? It' is suppose to be the total / 2 with ratio 1:1. Impermanent loss is painful to calculate exactly when you DCA. Bought all the way between 450 to 1300 😅

[vital frigate]

DCA?

[warm knoll]

bought many time at different interval.

Would have go the same amount since the beginning but my bank wouldn't allow it 😫

[cunning perch]

Just claimed and paid $70 😫

[cunning perch]

Yep. Until V2 is out all will be normal and to get rewards at the current weight

[vital frigate]

Yea it is madness

[cunning perch]

Well you had good entries and your rewards have lowered your avg. Still when you get back your ETH/ILV, IL had had its effect on them both so there is a high possibility you will get different numbers than you had put in

[clever swan]

are they still doing the 2 years for 2x weight or is that back to 1 year?

[cunning perch]

Well. I follow the 1% rule. So it was kinda worth it. 🤷‍♂️

[cunning perch]

Not clear, but that's why I'm telling you to read the proposal first to know all the up/downsides to decide better

[stark torrent]

Hello guys, what happens when claiming LP ILV rewards (in ILV)? Do they stay locked for 12 months from that moment or do they become available for withdraw when I can unstake the principal? sILV seems like a huge loss of value if swapped against eth or any other token

[echo quartz]

whats the 1% rule?

[cunning perch]

Gas = 1% of the total pending rewards in $

[echo quartz]

sheeeesh 😛

[sacred cosmos]

Whenever you claim ILV as a reward regardless of which pool it came from it becomes locked for 12 months. Only sILV once claimed is unlocked and transferred to your wallet. sILV is supposed to be for in-game transactions and not to be swapped outside the ecosystem

[echo quartz]

what rule did you follow when staking initially?

[cunning perch]

the same. I've followed it since as long as I can remember. I've always had a plan before doing something

[echo quartz]

your total gas fees totalled to 1% when staking? 👀

[cunning perch]

claims, yeah. I have never claimed when gas was more than 1%. I keep to the rule even if that means waiting cuz I don't wanna overpay gas tbh. Topping up ETH is annoying lol

[echo quartz]

I see, I meant if you had a rule for your costs to stake in the first place, because those fees hit me hard

[magic ledge]

Someone needs to fix these stupid gas fees

I just paid 250 USd to process the rewards on LP + core

When is V2 coming. Can we please do something about these fees, another chain maybe

[cunning perch]

The only chain we'll always be on is ETH. V2 will fix the claiming gas. To stake your LP, you still need to pay whatever gas is at.

[magic ledge]

It's claiming rewards

[warm knoll]

Everyone is waiting for the DIP, but not the ILV one to claim rewards 🙂

[magic ledge]

When is V2 coming? Will it Auto compound? So no fees

[cunning perch]

yes claiming tx will be fixed probably so you wouldn't have to pay two gas each time. Still needs to be approved and confirmed

[magic ledge]

So still pay gas fees but once for both pools?

[cunning perch]

Auto compound has not been confirmed. If it costs gas, then auto confirm will rek many ppl. again, we need to wait and read the fully revised proposal

[magic ledge]

Am I not so over these eth fees!!!

[pearl moth]

Quick question, should I always claim my staking rewards when it reaches 5 ILV ?

[sonic wolf]

depends on the price of gas at the moment

[devout ledge]

Hi guys what is the minumum sILV reward to claim form staking?

[cunning perch]

sILV is the same as ILV. whatever you see in your pending rewards, you can claim as ILV or sILV each time you wanna claim

[clever swan]

$190 just now to claim my slp pool rewards. wtf mayne wtf

[vital frigate]

Lmao

[clever swan]

anyone know what 1 slp token is worth right now?

[cunning perch]

well, at least gas was cheaper now that it will be tomorrow, perhaps lol

[cunning perch]

about $4820 https://app.zerion.io/invest/asset/SLP-0x6a091a3406e0073c3cd6340122143009adac0eda

[astral oyster]

Hey guys is there a way to extend my locked liquidity?

[cunning perch]

Literally answerd you here #💬〕general message though you cannot extend the lock. you have to restake

[pallid jungle]

is there a minimum amount to stake?

[clever swan]

goddamn that shit went up. good for us

[cunning perch]

Nope, as long as it justifies gas. Also read this ti help you #🥩〕staking message

[cunning perch]

you'll get whatever you pay for gas back with those rewards and ofc RevDis

[sacred cosmos]

If you leave it as is will it still gain yield?

[pallid jungle]

are the rewards based on in game revenue only or there is also interest?

[cunning perch]

on V1 yeah. V2 will stop the Y if your tokens get unlocked

[cunning perch]

rewards now are just Yield Farming ones. Revenue will be another story and not tied to YF

[astral oyster]

If I withdraw staked liquidity and rewards and then relock liquidity will the rewards that I claim continue auto compounding?

[sacred cosmos]

Oh good. I'm not giving false info lol

[cunning perch]

rewards will get rewards cuz they are already locked at max weight.

[cunning perch]

No worries. You are on the right track 🙂

[pallid jungle]

can you explain what yield farming is please? im new to this as u can see XD

[cunning perch]

Sure. I suggest you read the docs to the bone and then ask whatever questions you still had 🙂 👇

[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

[pallid jungle]

ty very much ill read them now

[astral oyster]

here is also a really good video that explains it - https://youtu.be/ClnnLI1SClA

[cunning perch]

@sacred cosmos there might be some good changes with V2. For now, what you said is correct. Just wanted to re-confirm it haha 😄

[sacred cosmos]

Really looking forward to reading the IIP once available. Hope Aaron covers a bit of it in his Dev blog tomorrow

[astral oyster]

Are there any plans to add liquidity to cheaper layer 2?

[cunning perch]

Oh I'm sure V2 will be one hell of an upgrade with which all will be content

[astral oyster]

So that we can avoid these expensive gas fees

[cunning perch]

Not on L2. V2 is planning to fix some issues with claims and would make it more gas-friendly

[astral oyster]

I was talking about the fees, just went to lock liquidity and saw that I have to pay $200 in gas fees to do so lol

[vital frigate]

Does revdis only distributed to stakeholders?

[cunning perch]

well new stakes will follow whatever gas is at.

[cunning perch]

stakers, yes.

[astral oyster]

😞

[astral oyster]

What is V2?

[vital frigate]

Devlog tommorow? Including info on land and stuff?

[cunning perch]

Staking Version 2, made to optimize and minimize gas when claiming rewards. (that is one point of it)

[vital frigate]

We need ETH 2.0 as well

[sacred cosmos]

I would like to say most likely. It would summarize a lot of the info shared already here I'm guessing. So it's a confirmation at the very least that land auction is moved to dec-jan

[astral oyster]

ok gotcha thanks

[slate scroll]

Can't wait for v2 paid 220$ just to claim ilv today can't believe how I complained months ago when I was paying 50$ :)

[clever swan]

Patiently waiting for the day my claimed ilv rewards outpace my slp stake

[astral oyster]

lmao same

[slate scroll]

Probably in few months we will wait Sunday to catch 200gas because during workdays it will be between 300/400 hahah

[clever swan]

Illuvium should srsly consider moving the staking to iota once smartcontracts go live. The team can set the fees to zero or whatever they want and collect the fees and redistribute it as revdis.

[coral pike]

just read about Eth 2.0 it seem its estimated for 2022 https://ethereum.org/en/eth2/

[slate scroll]

Can't happen anytime soon big players don't want to invest in anything besides Ethereum

[clever swan]

these fees are a game killer

[coral pike]

Personally i think it should stay where it is gas sucks but it will be worth it in the end

[slate scroll]

No this fees are killing small investors because they can't stake, our game will have zero fees so our success is not connected to gas fee

[clever swan]

game will have fees because to use immutable x you need to pay a fee to get on it and then when you leave it.

[slate scroll]

But that's 2 transactions most people can afford that

[coral pike]

not everything can be scaled to the lowest people can afford . Gas fees are just part of reality for now . eth is still the best place for this game be

[clever swan]

on iota it can be feeless, and there will be no fees for nft creation or output as well as native tokens. No fees.

anyway, just an idea to really grow the community and base.

[slate scroll]

Man I'm involved in many blockchains with same story like your iota, noone is going to risk big money there

[cunning perch]

Guys whenever you feel your topic is getting #799010390201466880 please move it there

[clever swan]

Is this off topic, discussing alternatives to these crazy fees? I will happily move it or stop.

[cunning perch]

I mean if it is not about staking ILV or hows and whys or whats and is only about why gas is high and what can be done, it should either be moved to #799010390201466880 or if there is a suggestion, then #814313819185741845 or even if it's a proposal, then #809220563397902346

[slate scroll]

Completely agree as much I hate eth gas there are more benefits than downside being on eth, we wouldn't have liquidity like this anywhere else and it would be impossible to attract big investors

[vital frigate]

Yea, ethereum is big, most people invest in just bitcoin and eth.
So if we were to use other layer 1, we might not be this successful

[slate scroll]

Once when our staked period for ilv is done it will be in our wallet or do we need to interact with blockchain again ?

[olive jungle]

I still a bit confused and I want to make clear about claiming ILV tokens, If I stake ILV into ILV pool and locked it for 4 weeks, after 4 weeks I have a choice to claim ILV or sILV. If i choose to claim as ILV my rewards will be put into vesting period of 12 months right, so only then after 12 months and 4 weeks after I stake, I'll finally be able to get my ILV and actually get the $. Is this right?

[glad oyster]

biggest mistake i made was putting my 1 ilv into the core pool and not making a sushi LP 😄

[glad oyster]

after 12 months..that's how I understand it

[olive jungle]

ah I see

[olive jungle]

I want to invest in SLP but during 12 months period of vesting will I be at risk of impermanent loss?

[sacred cosmos]

There's some nuances. When you stake, you already accrue rewards which means you can start claiming whenever it makes sense. In doing so you start the 12 months vesting period for the claimed ilv. After the locked period you can withdraw your original staked ilv if you want. So it's not entirely correct that you have to wait 12 months and 4 weeks. I mean it can be if you claim at the end only.

[delicate cloak]

Yes. Make your own educated decision. NFA, but general consensus among us is the gains more than compensate for any potential IL.

[vital frigate]

And gas fee

[delicate cloak]

Honestly for a single ILV, it's probably the better choice with gas. Claiming rewards will be best when gas is super low and maybe only done 1-2 times a year.

Using Lelahel's pinned calculator, if we get the bull or comparable Axie outcome, I could lose my whole original stake (which won't happen, I'm just exaggerating to make a point) and just have the rewards in 12 months and my gains would be amazing still.

[olive jungle]

OH so I can actually withdraw the ILV I originally staked, the only thing that is being vested is the ILV 'reward' that I get

[sacred cosmos]

Yes it'll all make sense when you go to the vesting tab since it'll show you the group of ilv and how many days more its locked.

[inner sentinel]

Im not too well versed in gas and I staked back when it was negligible. How much in fees are we talking? I think my ILV cant be withdrawn until 1 year after my locked session is over. If we move over to eth 2.0 by then, what happens to active stakes?

[sacred cosmos]

Fees now can be at 150-200 cause of high gwei. I haven't been able to claim anything below 75 usd

[coral pike]

check this out https://www.blocknative.com/blog/eth-gas-101

[sacred cosmos]

It stays on v1 until you withdraw and restake to V2 staking. The IIP for it is to be released soon so we should wait and see what the changes are.

[craggy field]

How often do you claim!? I had 40-50$ claim price from the ILV pool when gas was around 70-80Gwei

[sacred cosmos]

Whenever I get 5 ILV or so. But with gas being the way it is I might just extend that to 10 ILV.

[craggy field]

Fair enough. Yes i claim about every 2 weeks now having done a third claim.
I think the price goes up per claim, so thats why i asked :)

[sacred cosmos]

Im pretty sure it doesnt since its tied to the gwei but I may be wrong lol. I hope it isnt the case hahaha

[craggy field]

Well you should be able to check it next time you claim if you get the same gas :P there were vague rumors about it. so it could be something of note. Should be solved with V2 also.

[delicate cloak]

It's about timing it when there's low gas. I can't say how much because it varies. I'd be wanting at least 0.25ILV in rewards before claiming though based on how things have been. But ETH 2.0 or staking V2 may help lower these and make it more efficient. Just wait it out and see. Either way, you are still gaining rewards and the inflation of the token price.

[safe schooner]

Hi ! does someone can explain to me what's the interest in stacking in the ILV pool compare to the sILV pool ?

[delicate cloak]

You can't stake sILV. You can only stake ILV. sILV will essentially work like a gift card for in game transactions but no P2P transactions.

You will also be able to use sILV for land.

[safe schooner]

Oh ok, so for the moment if I want RevDis I can only use the ILV pool for that ?

[delicate cloak]

RevDis will be for ILV and SLP pool but only the ILV portion of SLP pool.

[safe schooner]

Maybe I didn't understand something, sILV =/= SLP ? (sorry I'm quite noob ..)

[terse parcel]

Sorry noob ETH staking but im looking at staking/core site and if I stake ETH from metamask that means in about 24 days i will get 814% returns in ILV? (not eth) and my ETH will be returned automatically to metamask account?

[coral pike]

Silv is the in game coin slp is the staking coin

[craggy field]

Thats a scam.

[delicate cloak]

sILV is a reward token for staking ILV. I suggest reading the #❓〕faq , whitepaper and also pinned posts. SLP is a liquidity pool for staking (a little more advanced and higher fees).

[terse parcel]

thanks!

[craggy field]

There is no eth staking. Only SLP which is half eth half ILV with +-400% yield per yéár!

[delicate cloak]

Read #📣〕announcements . THERE IS NO ETH STAKING! IT'S A SCAM! If 1000% APY seems too good to be true, its because it is.

[coral pike]

Turn off all DM in discord settings . All DM about ILLUIUM are scam Help DM are scams

[delicate cloak]

Please report the DMs sending the scams to #🚨❗〕report-scammers so we can ban them and hopefully stop them scamming others. A few people have been scammed already.

[craggy field]

Good job for asking here first! <3 tell ur friends to always confirm here.

[brisk surge]

is here a german room?

[coral pike]

#796853287273758730

[half light]

Yea I'm really pissed about the staking issues I've had, It has cost me over 500 bucks in gas fees. I really love this project but it's such a shame.. 4 claims of under 0.001 ILV just to stake my SLP. This could have been solved by just checking if rewards have been claimed in the last x hours, or if ILV rewards are < 0.01 then don't claim the rewards. Also it's not made clear there is no need to claim rewards manually. Damn.. 500 bucks gone!

[delicate cloak]

Sorry to hear but it has been discussed here many times that you don't need to claim rewards when withdrawing SLP. Hopefully your rewards will help compensate.

[half light]

Yea i do understand, but my first thought wasn't to go to the discord and look for a staking channel before I perform actions on the website, a lot of poeple had this same issue it seems. :/

[delicate cloak]

Yeah but don't really have a solution other than making sure you fully understand the process before starting. Any suggestions?

ETH gas sucks but it's no fault of anyone on the team. That's just how it is unfortunately. They are working on improving the staking contract with V2. We should have a proposal before too long.

[half light]

Yea but actually that was just 1 of the problems i had. It was also not updated on the website with my new SLP balance and still allowing to stake again for a long period after. So i tried again to perform that action after maybe 30 mins.

Well to be fair it is the fault of the team. The developer of the smart contract should have seen this, it's simple logic to just check before claiming a 0.0001 ILV reward right?

[coral pike]

The developer of the smart contract should have seen this, it's simple logic to just check before claiming a 0.0001 ILV reward right?

No personally I believe it falls on the user to do their due diligence and make sure they understand the process before they do it .

Just for future reference any time you try to claim form the SLP pool it will cost you 2x gas that's just a reality until there is an update that changes that

[half light]

I appreciate your opinion, and I do agree I could have researched more. ETH gas is not their fault at all. I do hold that the smart contract logic is not great though, i would love to know why rewards MUST be claimed before staking.

[delicate cloak]

Rewards are generated every 15 minutes. They can't stop that.

There will be improvements made, let's see what the proposal is. If you have feedback, leave it in the appropriate channel. The team has been doing a great job of taking on feedback to try and improve the staking to make it as efficient as possible and less cost prohibitive.

[coral pike]

this may give you more information you seek

#🥩〕staking message

[neat blaze]

To add to this, there are ways that this assumption could go wrong as well. What if ILV had sky-rocketed, along with token price and the amount staked in the pools, and 0.0001 ILV became viable to claim? I understand that the math underlying this hypothetical is a little crazy, but I think it's best to try to account for the fringe and unexpected by making the process flexible.

[coral pike]

see above link for more information

[delicate cloak]

I've been here a while and never read that. Thanks for the link! Aaron is always good at explaining thought processes and why stuff is how it is.

[echo quartz]

anyone here big on claiming sILV and reinvesting it into SLP?

[delicate cloak]

Check out Vetemor's episode with Deraji. He spoke about it a bit. You need big bags imo to be worth the gas and there's more risk involved.

And as yield farming rewards diminish over time, it'll be less and less advantageous.

[echo quartz]

I’ll have to look into it when I get time, and yeah it can’t stay over 400% forever I guess

It’s currently not possible to only claim ILV right

[delicate cloak]

Yeah it is. sILV is just an option for those who want immediate liquidity. ILV rewards are locked and vested for 12 months (but because it's a 12 month lock, they get 2x weight for rewards).

[echo quartz]

What makes the SLP claims require 2x gas then?

[delicate cloak]

For most people, I think just claiming as ILV into the core pool is probably best. I've scooped some sILV for it's discounted price and I'd rather do that than claim sILV personally.

[delicate cloak]

Transaction complexity and it claims rewards from SLP and ILV core pool. I think it's actually more than 2x due to added complexity and double claim, but I'd have to check a calculator again.

[coral pike]

see this for more info about why #🥩〕staking message

[echo quartz]

Yeah, having some ILV staked can’t hurt anyway

[delicate cloak]

Yeah you still get gains on it and 100% eligible for RevDis. Only the ILV portion of SLP gets RevDis.

[echo quartz]

Exactly! I really wish I had more funds to stake right now 🐒

But I guess its good not to be too greedy, you never know how things will look during a bear market

[delicate cloak]

Yep just do what you can afford. I intend to try do another SLP batch around token unlock. I don't expect a dump but I do expect a correction and gives a couple months to set some money aside. Even if I'm not getting a price like this, the rewards from staking are so juicy that it'll still be worth it imo. Plus I see the long term value of the token.

[echo quartz]

thx! @coral pike I got some clarity from that

whats the so called ”token unlock”? Is there a period where a lot of people staked at the same time?

[delicate cloak]

No, no, no. There's a max supply of 10M token. Only ~650k in circulation. But the teams are seed investors are locked up and on a vesting schedule. They start unlocking daily in March.

[royal solstice]

Sucked it up and claimed this morning. Gas was bouncing between 80-100. Which until v2 is basically as good as it’s getting. Probably try to wait it out now. Just wanted some to unlock November of next year.

[echo quartz]

oooh yeah

[safe schooner]

Ok thx, I read the faq, whitepaper and https://medium.com/illuvium/28-everything-you-need-to-know-about-staking-ilv-6669594b2fac

But I still have a question ; Why do we have 2 different pools of stacking ? ILV and ILV/ETH ?

[delicate cloak]

ILV pool is just staking. ILV/ETH is a liquidity pool and before ILV was listed on any CEXs, this was the only way to buy it. You get higher gains but are subject to risk of impermanent loss and higher gas fees.

[echo quartz]

they are releasing 500k in december already?

[delicate cloak]

That's from the whitepaper. That's last year, see how it says concluded.

[echo quartz]

ah yeah

[delicate cloak]

The 650k are from the launchpad and there's some leftover.

[safe schooner]

Ok thx for your precious help ! for approximately 4000 dollars, which pool do you think is the best for stacking during 52 weeks ?

[coral pike]

Full release of all ILV wont be concluded till summer 2024

[delicate cloak]

Not financial advice so you need to read and use the pinned posts and calculators. Everyone has different goals and are happier with different levels of gains. I think that would be worth it for SLP but just try and get gas for under 100 gwei. But that's just me.

Make sure to read up on impermanent loss. Some good medium articles and also Lelahel/Deraji's calculator which is pinned.

[safe schooner]

Ok ! Do you have a good calculator that I could use ?

[coral pike]

click the pin at the top

[safe schooner]

thank you

[harsh breach]

wen can i claim LP reward without mandatory second transaction for not-wanted-ilv-claim in front of it? wen V2?

[safe schooner]

Just a last thing ; when I stacked during 52 weekds, could I used a part of my revdis in game before the end of stacking ?

[faint sorrel]

What is the average amount people stake? Is staking small amounts worth it or what is the minimum?

[craggy field]

the minimum is an amount that would actually be worth it with the gas you stake with at the point of staking. A floating recommendation is about 3-5 ILV stake for it to be somewhat worth it.
reason: If you stake in the ILV pool with a 40% APY, which decreases quite quickly as well, you should not spend over 30% of your initial investment on gas fees. So if the gas is 300$ to stake I would say your initial investment should be well over 1K$ to make actual use of the APY.

[craggy field]

Revdis is paid out in a liquid ILV form. You should be able to sell Revdis the day you get it. Do note the difference between yield farming and revdis, for tokens gained through yield farming need an additional 12 months vesting before they can be used in any way.

[craggy field]

staking V2 is supposedly scheduled for release before the land sale. The land sale should be coming early January. V2 has to go through an IIP check and validation before it is accepted by the council so it could take quite a bit of time.

[harsh breach]

meanwhile, could you guys detach the both claims from each other, so I can do them separately?

[craggy field]

not possible! we all have to suck it up till V2.

[coral pike]

not possible you just need to wait till you feel gas is acceptable or V2 is launch
check this Link for more info why this is set up the way it is . #🥩〕staking message

[delicate cloak]

It's a smart contract. You can't just change things so freely. And it's got layers of complexity to it. Read the link above with an explanation from Aaron.

[safe schooner]

I'm trying to use the Lelahel sheet, do you know how I'm supposed to know the ILV received from stacking (=1 in purple on this example) ?

[delicate cloak]

You have to edit the values for your stake on the first page. Then that image you shared is if you lock for 12 months and how much you would get after the period on the left side.

[safe schooner]

Yes I understood that

[delicate cloak]

12 month lock gives you the weight of 2. And if you update the ETH and ILV prices on that first sheet, that's how it gives you the $ values

[safe schooner]

but I'm supposed to change the 1.00 in purple next to ILV received from staking, right ?

[delicate cloak]

No, there's a different section to change.

The boxes on the left side. You also need to make a copy of the sheet to edit it.

[craggy field]

Why can't i make a copy of that document btw? it only highlights download for me

[safe schooner]

Yes I made a cpoy

[delicate cloak]

I can make a copy. Not sure your issue...

[safe schooner]

I already also changed all the left part of this document to fit my needs

I'm just looking to know if I need to change the number upside the earnings for 1/3/6 months (currently = 1.00)

[delicate cloak]

I believe that's to update as you claim and vest your rewards. So it would start as 0 until you claim. But I'm actually not 100% sure on that.

The 1/3 year dashboard shows the projections at different claim intervals and can help you decide what's most gas efficient.

[slate scroll]

Anyone know answer? I'm pretty sure how is automatically released in our wallet but can someone confirm this?

[mint cave]

you would need to unstake your tokens

[slate scroll]

Fuck me, if I leave them they are still earning interest but with minimum weight?

[exotic vessel]

what do you mean by leave them? if you claim they're earning with 2x weight (even past vest lock up)

[slate scroll]

I know I'm asking about ilv that is not locked anymore

If I don't unstake them what's happening do they have weight 1 or 2

[autumn cloak]

For right now, I believe they stay at 2x weight until you unstake

[cunning perch]

They keep the weight, but only if you migrate to V2 when it's out. If you don't, V1 will stop giving your rewards and RevDis no matter the weight

[slate scroll]

I will definitely migrate but I will have some that will be unlocked next month so im planning now

[warm knoll]

hmmm ? migration to V2 can happen even if the locking period is still on ? And anything on V1 will become useluess (no reward or revDis) ? Ok so we need to do the migration as fast as possible then :/

[cunning perch]

V2 is still not implemented. Migration needs to be addressed if it is possible to happen even when tokens are locked. For now, all are staked on V1 and even if they are unlocked already, they keep the weight and will get YF rewards. After the implementation if V2, the ones on V1 will stop receiving YF rewards unless they move to V2. Now whether locked tokens should do the same too needs to be confirmed by the proposal, but unlocked tokens will for sure have to migrate or withdrawn and are-staked and locked for one year (if not two) to get the 2X weight.

[jolly pewter]

Where do i get this sheet?

[delicate cloak]

It's pinned in this channel. It's posted by Lelahel.

[jolly pewter]

Thx 🙏

[safe schooner]

Question : If I decide to divide in two pieces my stacking of ILV (for example, 50% during 10 weeks and the 50% rest during 52 weeks) should I will be force to pay the fees for the two different stacks when I claim it ?

[potent flare]

any time you stake or any time you claim you have to pay gas

[safe schooner]

ok thx !

[delicate cloak]

But you won't have the make claims for rewards separately if they're both staked in the same pool.

[safe schooner]

Ok ! So the claim works by pool right ?

Even if I have two stacking of different duration in the same pool ?

[gloomy gazelle]

Claiming still works by pool.

But withdrawing will be different Transactions.

[safe schooner]

So 2 more gas fees ?

[gloomy gazelle]

Yeah. At least. Since to withdraw you currently will also process a claim as part of the withdrawal sequence.

Just don’t manually claim right before withdrawing

[silent cedar]

Nice, I keep thinking to claim, then I remember I'm getting ready to stake some more.

[delicate cloak]

@urban elk if you check the pinned posts here, there's lots of information about staking. Do not use any links from the DMs.

On YouTube Volkin, Vetemor (and probably others I have not seen) have staking videos which act as good guides. As well as many pinned posts here.

[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

[urban elk]

Oh,ok good i will read

[gloomy gazelle]

This video should be helpful

[urban elk]

Thanks bro

[delicate cloak]

No prob. Just remember, DMs are almost always scams. Just ignore them 👍

[urban elk]

Ok

[lethal stump]

Hi there can someone at illuvium staking please help /interact with myself and a whitehat group regarding rescuing a compromised wallet staking contract please ?

[gloomy gazelle]

Let’s see what can be done.

Don’t trust DMs

[lethal stump]

Thanks Pelican

hi?

pelican - no the staking contrct is for a year

what do you suggest?

[safe schooner]

When I use the Lelahel calculators I found something that I don't understand,
Here we will consider 3 hypothesis for a year of stacking :

1. I stack 100% in the SLP pool = I found that I will pay 900$ in gas fees if I claim every 3 ILV and 1650$ if I claim every month.
2. I stack 100% in the ILV pool = I found that I will pay 300$ in gas fees if I claim every 3 ILV and 1650$ if I claim every month.
3. I stack 50% in the ILV pool and 50% in the SLP pool = I found that I will pay 600$ in gas fees if I claim every 3 ILV and 1650$ every month.

Those calculations result in some questions for me :

• I have heard that if you use the SLP pool you will have to pay twice the gas fees, is it correct ?
• If it's correct, why the gas fees per month is the same between the 3 hypothesis ?

[vital kayak]

You pay gas once. Used to be twice

[safe schooner]

Is it a recent change ?

[vital kayak]

@jovial moat my buddy did a controversial video to his VeVe OMI followers today for ILLUVIUM 🌟💪🏻💜 PLEASE give him a like to compensate for the OMI haters down thumbing https://youtu.be/inW5CDMHDBs

[vital kayak]

Like past month or 6 weeks I think it seems

[safe schooner]

Ok, so there is no downside to stack in the two different pools at the same time ?

In gas fees I talk

[delicate cloak]

The way the smart contract works when you claim SLP, it auto claims ILV and the rewards get vested in the core ILV pool so even if you start with just SLP, once you claim rewards, you have ILV vesting in both pools.

[safe schooner]

good point.

[cyan rampart]

If you stake the SLP, you will pay gas twice for every claim after the first, assuming you're claiming rewards as ILV.

All claimed ILV goes through vesting in the Core ILV Pool, so after your first SLP claim as ILV, you now have staked ILV. Every subsequent claim will mean you're claiming BOTH the SLP and ILV Pool's rewards.

So you save gas by staking the Core ILV Pool, or by claiming your SLP rewards as sILV only (so you have no staked ILV).

[delicate cloak]

His calculator takes this into account also.

[safe schooner]

Ok thank you guys, you are a precious help for me in this new world !

I have also learned some stuff about the impermanent losses but I wonder if there are some graphics for a good representation of the risk ?

[cyan rampart]

This isn't graphical but you can use it to play with different scenarios and see what your IL might look like. #🥩〕staking message

[delicate cloak]

The summary is if one of either ETH or ILV sky rocket or tank it will disrupt the balance in the pool. When you withdraw your SLP, it may not be 50/50. It could be 80/20. It depends how both assets are valued.

This is part of the reason the rewards are do high for SLP. Even if that happens, the losses should be mitigated by the rewards. Not financial advice.

[safe schooner]

Your formulation sounds really Jedish to me 😛
That's what I understood, thank you to confirm !

[safe schooner]

Perfect ! that what I was looking for 🙂

[long crypt]

Hi, May I know what's the difference between ILV and Sushi LP?

[cyan rampart]

!staking The video here outlines the differences pretty well.

[woven ibex]

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

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

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

[cyan rampart]

The basic idea is that the ILV Core Pool has no risk of Impermanent Loss, but also has a substantially lower APY. The SLP is equal value of ETH + ILV provided as liquidity on Sushiswap, and then staked into the SLP pool. Since it's a liquidity token comprised of 2 assets, there's a risk of impermanent loss. The APY is much higher to compensate for this risk.

[safe schooner]

If I keep 500$ worth in ETH, do you think it's enough for my future fees ?

[ornate loom]

If the cost of cycles in the Game stays at $50, that Would give you 10 cycles. Assuming you can catch 2-3 Illuvials per cycle, you can have 20-30 Illuvials by the time you $500 is used up.

[safe schooner]

That's interesting, thank you for bringing those numbers but I was more looking for the cost of claiming in the SLP and ILV pools

The number you gave here are official or speculative ?

[craggy field]

We just discussed this with Ben in the general chat. Read up to about 1 hour ago.

[safe schooner]

ok thx

[vagrant patrol]

I'm about to pull the trigger on staking sushi LP. What time of day is gas usually cheap? Also please 💯 this post if you are actually getting 400%+ APY from staking it right now to put my mind at ease about it.

[jovial moat]

Ty girl 😘

[thick kraken]

well it was 70 gwei 9 hours ago, it is the lowest I have seen, though I am not an expert on gas tracking.

we get 400% apy yes, but caveat that this value goes down as more people enter the pool, and if ILV price goes down.

[delicate cloak]

You won't get the 400% for the full year, it'll diminish over time. Gas might be low over the next few hours, keep an eye out. But it's anyone's guess. Usually weekends are cheaper and yesterday wasn't bad but not as good as last weekend.

[thick kraken]

if your SLP investment is substantial enough, it might not make sense to wait for gas to go down ie waiting for 24 hours for gas to go down to save $100 when you could've staked it now and earned $1200 in those 24 hours

[vagrant patrol]

I get that, I just wanted to know it's going okay for others before I dive in.

[thick kraken]

fking A it is brother, and when you claim those rewards as ILV, they compound.

though to dampen the hype, I feel this way because ILV price has been going up since I started

[vagrant patrol]

Seems like it's taking a while to approve the liquidity.

nvm it's done now

[thick fulcrum]

I have a little over 2 ILV... is it worth staking this amount? I'm new and have never staked before.

I was going to try the Sushi LP, however, I don't have enough ETH right at the moment allocate to this.

[vital kayak]

ABSOLUTELY! But snipe for low gas under 85 GWEI imo

[red echo]

Ei guys!! one question!! what can i do if the mm wallet i staked was hacked?

[thick kraken]

NFA but you can easily sell half for ETH then go for SLP, which provides 10x the APY vs ILV pool. After a few months, claim your ILV rewards and you get a nice compounding

[left wharf]

What do you mean by hacked?
Does somebody know your key?

[warm ginkgo]

hey guys, just staked my ETH but I do not see them on the dashboard...help

[autumn cloak]

There is no ETH staking. Did you do it from a discord dm? If so it was a scam

[sand wing]

Hello all!! Is there any public information on staking v2 that @median canyon mentions in the dev blog posted today?

[cyan rampart]

The old IIP is pinned in this channel.

It doesn't include the revisions, but it should be mostly accurate.

[sand wing]

Many thanks!

[median canyon]

IIP this week.

[gleaming brook]

Hello team, quick question on the first blog post. Should I claim my rewards now or wait for staking V2 considering the current high gas? Thanks

[sand wing]

perfect, will be watching, thx!

[median canyon]

Depend on how often you claim. If you do it weekly then just claim now I guess. It won’t launch next week. Audit takes some time. If you claim monthly then might be better to wait.

[mellow hull]

@median canyon since you are here… thanks for taking all of us on this journey with you guys

[sand wing]

@median canyon is the team expecting a lot of staking to happen in v1 now until v2 comes out, due to the 12 month weight 2.0 transferring over to v2?

[gleaming brook]

Thank you for the quick response! By the way, a very good executive summary for many of us that cannot be on Discord regularly. Appreciate it and kudos to the team for the continuing great job!

[brisk surge]

does anyone in V2 staking if there is going to be the option of shifting our SLP & ILV staking to new wallet addresses?

[sand wing]

it looks like that's case according to the old IIP pinned in this channel. New IIP out this week with final updates/changes. #809220563397902346 message

[brisk surge]

thanks

[median canyon]

I can't know what people are going to do unfortunately.

[sand wing]

but in this world you are omniscient! 😆 understood, but I'm gonna stake some more 🙂

[delicate plaza]

Is V2 confirmed to have a two year lock?

[fresh grail]

I think there was a change to 1 year lock

[vital kayak]

Or this version guys?

[vital kayak]

Not voted on yet but Rahlord did say that’s likely 1 year now

[fresh grail]

Thanks for the confirmation, wasn't 100% if it passed or not

[delicate plaza]

Thanks. And I imagine people who are already stake can carry their current stake over? Is there an benefit of a new staker waiting till V2 or trying to stake before V2?

[cyan rampart]

There's a migration for unlocked stakes I believe. Staking v2 does include some gas optimizations, so depending how long you're willing to wait, it could be worth waiting. Note that there's not a set date yet.

[delicate plaza]

Thanks, will V2 Include the ability for staking to migrate wallets? My ledger just arrived and want to use that as my main staking wallet, however I already have some tokens locked up from rewards on another wallet

[cyan rampart]

I believe the original IIP indicated that stakes WITHIN v2 already could be migrated to a new wallet. Existing v1 stakes which are locked would have to wait for the unlock and then migrate to v2 before a wallet change is possible. Regardless, at this point it'll be best to wait for the new IIP on v2 for confirmation of how this will work.

[brisk surge]

upon unlock and then we migrate to V2 would this mean we would then enter into a new locked staking period?

[cyan rampart]

Your tokens would be unlocked, so you'd likely get to choose whether you locked them or staked flexibly.

I don't mind trying to answer questions, but with the new IIP coming out this week I'd really rather not speculate on anything else related to staking v2. Let's wait and see what the IIP says and then we'll know for sure 🙂

[delicate plaza]

Thanks will wait for the IIP release! appreciate the help

[brisk surge]

got it. looking forward to it

[gloomy gazelle]

This one. Trident and staking has a slight play on words there.

[red echo]

idk but my coins was stolen

[gloomy gazelle]

Are you still staked?

[languid cargo]

Getting some real heavy spam sers for a fake illuvium staking site

[brisk surge]

Just pulled the trigger on ilv and staking.

[brisk surge]

Nice!

[brisk surge]

Locked in for a year 😏

[gloomy gazelle]

You can help by sharing the ID number in #🚨❗〕report-scammers check pins in there for how to do it

[red echo]

yes

@gloomy gazelle hello some illuvimod talked mi on private is scam right?

[gloomy gazelle]

Ok check this thread out for some info. #909571631368790036 message

[gloomy gazelle]

Yeah probably

[gloomy gazelle]

Please report in #🚨❗〕report-scammers or just tag/ping them here

Just tag them here and I can confirm if it’s a fake or not

[red echo]

did you talked me on private pelican?

[gloomy gazelle]

No. Dm me from here if you want to confirm.

[red echo]

how can i do this?¿

[gloomy gazelle]

Tap my name and copy and past being @

@red echo

I will not DM you first. Neither will other mods.

[red echo]

https://gyazo.com/8cf8957040e38629c96421cb6035f3f1

lol first talked blicket to me and then pelican, wtf scamers are getting better everyday

[gloomy gazelle]

Close enough. I got ‘em now. Thanks.

[manic hull]

Hey guys I have a quick question about gas fees. do i pay more the more eth i am transfering? or is it a flat rate based on gwei?

[vital frigate]

Flat

[cunning perch]

transference from wallet to wallet should be fixed, though the price in $ differs cause the price of ETH differs. otherwise you are paying for example 0.0035 each time

[gloomy gazelle]

Flat rate based on gwei except contract interactions can affect the gas limit which also makes a big difference

!fees

[knotty river]

Fast: 132 Standard: 115 Slow: 115
Simple ETH TX: $13.22 (0.0028 Ξ)
Token Approval (ERC20): $31.64 (0.0067 Ξ)
Token Transfer (ERC20): $29.75 (0.0063 Ξ)
Uniswap Trades: $74.61 - $124.66 (0.0158 Ξ - 0.0264 Ξ)

[manic hull]

So when it comes to swapping my eth for ilv it will be more?

[gloomy gazelle]

!gas yeah

[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**

106 Gwei

Average :person_walking: | **3 minutes**

106 Gwei

Fast :zap: | **15 seconds**

106 Gwei

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

[manic hull]

and same for staking?

[cunning perch]

Yes. It's also the same for Staking.

[manic hull]

but the actual amount of money being traded has no effect on the gas, just the type of transaction?

[cunning perch]

Staking is the most complicated TX, so it costs a lot more than a simple swap/transfer, so it changes and varies.

[manic hull]

I very much appreciate the help.

[potent sapphire]

Hey guys, just curious, if i were to stake some ILV and then some time from now wanted to stake some more can you do so? Or do you have to wait until they unlock to add more?

[manic hull]

Safe to say set aside 20% for gas fees?

[celest river]

You can, but you must claim your rewards to stake more.

[gloomy gazelle]

Staking is even higher complexity

[potent sapphire]

Ok, so you can, but you need to withdraw pending rewards to do so. Thanks for your help

[manic hull]

So higher than 20%?

[vital frigate]

If i swap in uniswap, it only cost Liquidity provider fee right?

[gloomy gazelle]

https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit?usp=sharing make a copy of this sheet and use it to calculate how much you’ll need in eth to pay fees. And save a more than that

[gloomy gazelle]

No. Ethereum network fees too.

[vital frigate]

I see, thx

[gloomy gazelle]

Don’t touch pending. Just start to stake new tokens.

It will make you do another transaction as part of a new staking process.

[potent sapphire]

Ok, but it is possible to stake more while my initial investment is still locked, thats what matters. thanks for the help

[gloomy gazelle]

Careful. When adding more there’s no need to claim first except what the staking process makes you do. If they claim rewards from rewards tab and then stake again they’ll have extra transactions for no reason.

[gloomy gazelle]

Yeah. You can.

[celest river]

Yeah, probably should have added a little more. Responding whilst at the gym 😅

[gloomy gazelle]

Lol 😂

[vital frigate]

How much fee in eth for 100 gwei (uniswap)?

[gloomy gazelle]

https://tenor.com/view/yeah-budy-ronnie-coleman-gym-lightweight-light-gif-20762394

[gloomy gazelle]

There’s too many different kinds of transactions to know. Use the document above to figure it out.

[manic hull]

Can’t thank you enough for that spreadsheet.

[gloomy gazelle]

@ripe steppe you’ve got a new fan

Wait until you see his videos!

[manic hull]

😍😍

[vital frigate]

👍

[gloomy gazelle]

!staking also use sushiswap to get ILV

[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

[hoary sapphire]

you can use metamask for staking?

[cunning perch]

You can use MM to stake on ILV website yes.

[hoary sapphire]

ok thx

[celest river]

@real hawk 'Hey All, just checking if there is any reason for me to claim staking rewards for the Sushi LP ... i assume that it will just keep growing and compounding or will i have to claim it every now and then for that to happen?'

So in order for it to compound you need to claim the rewards so those rewards are then 'vested' in the ILV pool for 12 months. Any unclaimed rewards do not benefit from APY/RevDis because they're not effectively 'staked'.

[real hawk]

Ahh ok, so i should claim them regulairly. I have $40k odd staked so every couple of days maybe ??

Should i be claiming both ILV and sIVL's ?

[celest river]

Check out the pinned posts. Vetemor has put together a nice spreadsheet that helps you calculate the associated fees with claiming/staking so you can try and decide how often you should claim rewards.

[real hawk]

Cool thank you. ... where are the pinned posts ... sorry.

[celest river]

This, again is totally up to you. ILV will be locked for 12 months earning rewards = compounding. sILV can be used in game, is immediately available and can be traded on unofficial markets (currently trading well below ILV price).

[real hawk]

I have it all locked for 12 months anyway. So no reason not to is there.

[celest river]

If you look above this chat on the top right if you're on PC there is a pin.

[real hawk]

Perfect 🙂

[celest river]

Your staking rewards claimed in ILV will be locked for 12 months from the date of claiming.

[real hawk]

Oh ok. Will have a read up on this first before asking anymore questions. Cheers

[celest river]

No worries! Just pop your staking questions in here. The community will be able to assist.

[celest river]

@nova igloo 'question! I read that SIlv are usable in-game, do we need to claim them (and incur gas fees) or will that not be necessary?'

You will need to claim sILV rewards to use them in game if you have earned them as staking rewards. This, at the moment, requires gas. But could be reduced/changed in staking v2 which an IIP will be out for shortly.

[nova igloo]

ok good to know. I have a minor sum to invest, i'm afraid staking (with the gas fees currently) isn't worth it. I'll just buy, hodl, and use eth for any purchases. Thank you!

[celest river]

Another option is to purchase sILV off the secondary market which is currently less than 50% the value of ILV, but will be worth exactly the same for Illuvium ecosystem purchases (but this is not supported by the DAO and is at buyer risk)

[nova igloo]

i thought about that too, but there's another gas exchange happening there

[celest river]

Yeah there is - if you're buying in bulk though, can work out to be worth it. As always do your own due diligence and this is not financial advice.

[nova igloo]

Gotcha! Yeah if silv price keeps growing...

[vagrant patrol]

Has anyone calculated the sweet spot for when to claim rewards? Sooner means more compounding interest, later means fewer times paying fees.

I assume someone has arrived at a figure. My guess would be around .8 ILV with a fee of about $120, minimum. But I have no idea where it would be waiting too long.

[potent sapphire]

I personally only have just over 1 ILV staked so will be waiting my whole 12 month lockup to claim but that sounds about right if you had more

[vagrant patrol]

It's a tricky math problem, I think it may require calculus.

[gentle axle]

Hi guys, what's the best way to buy SLP? In the past I bought equal amounts of ILV and ETH and exchanged then for SLP on sushiswap, but I see that "zerion" allows you to buy straight from ETH?

[vagrant patrol]

I doubt that "zerion" will save you any money, but it may save you about 3 minutes. The real question is, do you trust this random thing?

[gentle axle]

Not really, which is why I'm asking if you guys have a secure method to buy directly? 😅

[vagrant patrol]

I think you could save some money on fees buying on Binance. The contract interactions from SushiSwap cost like 3 times more than regular Eth transfers.

Presumably, you'd only be doing 2 regular Eth transfers for Eth and ILV from Binance to Metamask.

Save you about $40 right now.

[gentle pumice]

check Lehael's calculator https://docs.google.com/spreadsheets/d/1z2co3pS7Yq9Hc86t705tU__d-vGuRp6iTTvHta9gOXE/edit#gid=1097421284

if you don't want to click the url you will find it in pinned messages

[vagrant patrol]

I have looked at that, and I don't think the answer is in there. I think that if there is a difference for when we should claim, people with less staked should claim sooner.

But I have a feeling there is a sweet spot at which to claim based on current fees and APY that all of us should use.

[long sinew]

Whats the difference between APR and Weight?

[vagrant patrol]

Weight is just a multiplier of APR.

Stake a full year and get 2 times the APR.

[long sinew]

Ohhhh i see. Thanks.

If I staked 2 mos ago where APR was still at 50% will that change and adapt the current APR? Or will it stay at 50%(the APR at the time I staked)?

[vagrant patrol]

You'll get the weight you staked it for, APR fluctuates.

[long sinew]

I see. Thanks for explaining it clearly.

[hollow kelp]

Generally ppl use the 5% rule (claim when fees < 5% of rewards). Otherwise claim like crazy and use the transaction costs to up your cost basis for next tax year 😂 #nfa

[vagrant patrol]

Seems sensible. Assuming $120 of fees, that would be about 2 ILV. On conventional staking that would take about 1.5 months to earn back the fees on it's own (not accounting for compounding interest). I think I found the solution: wait for staking V2.

[hollow kelp]

Conventional staking value/month would be wholely dependent on your initial investment.

[vagrant patrol]

Yes, but claiming the, let's say 2 ILV, would on its own, earn back the fees in about 1.5 months. The compound part would be if you could claim more ILV within that 1.5 months.

Is there a mathematician here? I don't even know where to begin with this problem.

[cyan rampart]

I don't think you REALLY want to start down the path of figuring out a mathematically optimal time to claim for every person. APY varies, TVL in the pools varies, gas fees vary, total rewards distributed decrease over time. IMO use an existing calculator and you'll be within 10-20% of optimal.

[vagrant patrol]

That would be really unnecessary if there was a different solution for everyone, but, for some reason I think the solution may be the same or similar for everyone.

Now I'm thinking the most important factor is the staking V2 thing. There may be very few people who could benefit from claiming before the fees are reduced or removed.

[cyan rampart]

I mean, consider this: Any ILV quantity that could be optimal to claim now, based on current APY, will change in the future as the amount of ILV staked increases. You can model this growth in TVL, but it's still a model, and ultimately depends on unknown factors.

From my time playing in Lelahel's calc, I reckon than when gas is cheap, something like 8-ish ILV is a good point to claim. When gas is expensive, 10-ish ILV is a good point to claim.

If your personal opinion about ILV is that you think it will appreciate in value a LOT, you can claim more often than every 8, as the small amount of extra compounding your tokens will do will add up to more over time, as compared to infrequent claims.

Gas optimizations will help things a lot, but I'm fairly certain that claiming rewards will never be cheaper than a token transfer (until v3 when staking is moved to a L2, which is a far future consideration). I think it's a safe assumption to consider token transfers as a floor on gas fees - Claiming in v2 should be somewhere between its' current gas amount and the gas amount of a token transfer.

[vagrant patrol]

Good to know layer 2 staking is pretty far off. I do think it would be a pretty tough transition from where Illuvium is at. It took like 5 months to get Gods Unchained NFT's to layer 2.

[blazing path]

Thank you. I was under the impression that V2 staking would take gas down close to zero… good to know that might not be or is not the case

[cyan rampart]

Yeah, moving to V3 will be amazing, but a TON of work to make sure everything happens correctly.

People meme on ETH for moving slow with their upgrades, but it's very important to make sure things are bombproof.

[vagrant patrol]

ETH refuses to compromise on blockchain security. I think that's the attitude that will stand the test of time.

[cyan rampart]

Gas optimizations can make a big difference, but I don't anticipate gas being insanely cheap. I'm not an expert, but a token transfer is one of the cheapest and simplest transactions on the ETH network. Anything more complicated will cost more gas, generally speaking. Maybe there are intelligent solutions that can make things cheaper than this though.

[blazing path]

Gotcha. Thanks again for the clarification

[safe schooner]

On sushiswapp, when I want to convert my ETH in the SLP, I have to buy first my amount of ILV and after that I have to put 50/50 in ETH and ILV ?

[cyan rampart]

50/50 dollar value in ETH and ILV will let you provide liquidity on Sushiswap. In return you get SLP tokens, which you take to the staking website and stake for yield.

Make sure to save a bit of extra ETH to cover gas costs too.

[vale perch]

guys what happen if my staked ILV has reach its fix period. Is it still doing anything or do i need to unstake and stake them again?

[cyan rampart]

It's up to you. Your unlocked stake will continue to generate rewards at the weight you originally staked it at. If you want a higher weight, you'd withdraw your unlocked stake, and restake it at the appropriate weight.

[safe schooner]

thx and do you think 0.11 ETH is enough for the gas costs ?

[vale perch]

Got it Thanks, as long as it is still generating rewards thats nice

[cyan rampart]

There's a calculator pinned in this channel (by vetemor) that will show you exactly the gas fees for every step of the transaction.

#🥩〕staking message

[real oar]

Guys I can’t connect my MetaMask wallet to illuvium.
Anyone knows why?

[bright heart]

Are you on the correct site and network?

[cyan rampart]

!staking As Ned said, make sure you're on the correct website. Make sure you're using the Ethereum Mainnet network.

[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

[real oar]

Resolved 👍

[alpine trout]

When I unstake and claim my rewards, will I have to pay 2 gas fees? one to return my staked ILV to my wallet and another to begin vesting my rewards? If I dont want to pay eth gas fees at the moment will my rewards not begin its 12month vest until I do?

[safe schooner]

thank you

[hollow kelp]

It wouldnt be similar for everyone since primary investments differ while Gas is the same across the board

[cyan rampart]

Unclaimed rewards don't start vesting until you claim them. When you unstake from a staking pool, you do have to claim your pending rewards.

[alpine trout]

and its two gas confirmations to both claim rewards and return staked ILV to wallet? or will it all happen in 1 transaction

[cyan rampart]

I believe you'll pay 2 gas fees, as claiming and withdrawing are seperate transactions.

[alpine trout]

makes sense! thanks very much for your help! 🙂

[safe schooner]

Do you think it's worthit to wait to a lower gas prieces and when could be a good moment ?

[cyan rampart]

For the last few weeks, 80 gwei is cheap. You might get cheaper in the future, but average has been 100-120 lately. Just a lot of usage on the network.

[alpine trout]

May just wait for the eth upgrade next year for lower prices

didnt really plan this through, but forces me to hodl i suppose

[safe schooner]

Ok, and which time of the day is better do you think ?

[alpine trout]

there are gas fee maps online that shows you history of gwei prices at different times of day

[cyan rampart]

Like, literally right now is the best usually. Sunday nights (my time) have historically been the "cheap" times.

[safe schooner]

ok thx !

[cyan rampart]

We're fully into early Sunday morning now, but hanging around 80 gwei is good for the past few weeks. I don't think we'll see much cheaper until ETH dips a bit, traders always chill a bit when ETH is dipping 😉

[safe schooner]

On sushiswapp I have a GWEI of >100 but on other site it's around 80

which value does I have to take ?

[cyan rampart]

!gas Your wallet will typically sort gas out for you. If in doubt, use the values from here:

[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**

79 Gwei

Average :person_walking: | **3 minutes**

79 Gwei

Fast :zap: | **15 seconds**

82 Gwei

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

[hot lynx]

Today is gas ⛽ today traditionaly
90 Gwei is the new 30 😅

[safe schooner]

Should I saw my SLP token on metamask ?

[cyan rampart]

!contract You might have to manually add it

[woven ibex]

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

[safe schooner]

I just added ETH and ILV to the the SLP on sushiswapp

[mint cave]

your last message about celo something looked like a scam, and was thumbs upped by a fake blickter.

these scammers are such slime.

[safe schooner]

Yes it seems so

can you help me about how I'm supposed to see my SLP token token on my metamask wallet from sushiswapp

And for the others for not being scam :

[mint cave]

click assets tab on metamask extension -> scroll to bottom -> import tokens -> custom token -> paste the ETH/ILV SLP token address above into it -> import token

[cyan rampart]

I can't believe they copied my stupid pfp xD

Mods and team will never send DMs first, we do everything in public channels - 99.99% of DMs are scams 😢

[cyan rampart]

You can import the token address listed above into Metamask (the ETH/ILV SLP Token). From the bottom of the "Assets" tab in MM:

[safe schooner]

this one : 0x6a091a3406e0073c3cd6340122143009adac0eda ?

linked by Moz4rt ?

[cyan rampart]

Yeah that one

[safe schooner]

sorry if I'm noob but I don't want to be scam after the shit that's just happened xD

[cyan rampart]

All good, take your time. It's always best to be patient and take your time with stuff, make sure you're safe etc.

[blazing path]

I’m not a noob and I almost got scammed. You’re smart to be safe!!!

[safe schooner]

Thank you for your help folks !

I have my SLP now 🙂

[wind walrus]

Yep, makes doing anything on ETH Mainnet very expensive.

[safe schooner]

It takes a lot of time to approve the stacking on the illuvium website, is it normal ?

[wind walrus]

Depends on how fast you set your Gas

[safe schooner]

I have this page and it's already been 3min at least, and the transaction has been confirmed on etherscan

[wind walrus]

Give it a couple more minutes. If it doesn't refresh then close browser and relaunch or Shift F5

[safe schooner]

ok thx, and this action was paying right ? should I will be forced to pay another time ?

[wind walrus]

You only need to Approve your wallet once. If the TX completed on the ETH side you should be fine.

[safe schooner]

ok it works thx

If I disconnect my wallet from Illuvium website does there will be a problem for the stacking ?

In fact, after my stacking period how the website is supposed to know that my wallet is the good one ?

[cunning perch]

Your stake is under your wallet. you can disconnect and reconnect how many ever time you want. It will always be under your wallet's address

[safe schooner]

ok purfect, thank you

[stray arrow]

You have $6K USD..... is it worth the effort to stake ILV

[sacred cosmos]

Resounding, yes.

[stray arrow]

Whats your play Scruba? CorePool > ILV > Flexible ?

that seems to be the most standard style ?

[craggy field]

Seeing as how you wont get revenue distribution without staking which might (speculation NFA) equal 10$ per month per token, id say yes it will be worth it. If you stake 4 tokens for a year with a price of 120-200$ gas fees then in a year you would have profits of roughly 4x10x8= 320$ Lol not much but it would be worth it right? Also you have yield farming atm at 40%APY which indeed will decrease... but even 5%APY would be a 300$ yield for you with 6K investment, right? :p

NFA and this has some assumptions in it.

[stray arrow]

ty for that breakdown Foodle

[vestal shoal]

I recently saw you can now buy ILV Binance. If I buy it on Binance and send it to my trust wallet can I stake my ILV on the website with my trust wallet?

[sacred cosmos]

SLP Pool, locked 12 months baby.

[stray arrow]

i gotta jam up w lot of money just to do that too. cause dont you need 1:1 Eth and SLP just to get in the game

[sacred cosmos]

Quick, someone do the quick maths of staking 6k in SLP at current prices. What would be the daily return? Somewhere around 0.1-0.2 ILV?

[craggy field]

about 0.1 right?

[vestal shoal]

Can anyone answer my question? :(

[sacred cosmos]

Assuming it is, then all he needs is 2 months and he gets back his initial investment in yield at todays prices. But 2 months from now, were expecting token to be around say, 2k usd?

[craggy field]

Yes. This is indeed a good way to do this because you have less gas fees on binance. Do note that you have to change the chain when you send ILV since it should be sent to the Eth chain and not the Binance sidechain.
Then on your trust wallet you can connect to illuvium.io and idd stake that. Do try to stake during low gas

[vestal shoal]

@craggy field can you explain how to change the chain when I send ILV?

[craggy field]

I usually take on avarage that it takes about 3 months to have 100% of your investment in ILV back. So to get 5ILV (6K investment now) you need about 90-100 days to have 100% of your investment back in ILV. That indeed might grow by 200% in this time so in this case of x2, you would have about 180% yield in 4 months. If you take into account possible IL.

[stray arrow]

Dam you guys need to be teaching this stuff

[sacred cosmos]

From binance? Just choose ERC20 and not BEP20 when you transfer from binance to your wallet

[craggy field]

I never use binancr thanks for filling in :)

[sacred cosmos]

Heres a more detailed message I did a long time ago: #💬〕general message

Just replace MM to Trust Wallet. Same concept.

[craggy field]

Slp does have its small possible downsides.this is just some bull talk :)

[stray arrow]

i just watched this guy Cagy on Youtube and he has me run through a wall but hes already rich

[gentle axle]

1.87 SLP is getting about 0.11 per day at the moment for me personally

[gentle axle]

Actually, it feels a bit low compared to what I had read recently, somehow

[stray arrow]

ready to run through *

[craggy field]

It is pretty accurate :) too bad it is getting low... but still good

[vestal shoal]

@sacred cosmos ahh right thanks!

[vital frigate]

Do we get RevDis if we stake in SLP?

[gentle axle]

But if it's 440% ish at the moment (1 year lock), next month what will it be? Halved to 220% ish? Or is it more gradual

[wind walrus]

Yes, but only on the ILV in the SLP

[wind walrus]

3% drop every two weeks and whatever drop we see from TVL

[craggy field]

I noticed the growth rate of this month compared tolast month to be about 0.88x. The entrance costs will go up so this growth factor should go further and further to 0.94~ (0.97^2) if there are no other triggers like gamplay, closed beta etc. But a 0.88x growth rate in this month wíth the trailer should be pretty conservative. Shouldnt be much lower in the upcoming months.
Next month would see ~440 x 0.88 the month after again x0.88 etc :)
This is just extrapolation of what information i have now. So it is not very accurate.

[vital frigate]

Seed / Team token don't receive vault distribution? The RevDis?

[craggy field]

It literally says: "They do receive vault distribution"
Last sentence.

[clear cape]

Last sentence literally says that they do

edit : lol garfoodle ninjad

[vital frigate]

Oh i miss read

[sacred cosmos]

Basically, they dont receive yield from their staking but gets revdis. Thats how I read it.

[vital frigate]

Yea, i got it. Thx

[next ruin]

It works fine. Just have to manually add the token addresses - you can find them in the pinned messages in #💰〕token

[long crypt]

Is it better for me to stake in celo than in sushi?

[midnight hatch]

I just got a few messages direct that Eth staking is live, is this true?

[ember ginkgo]

Scam

[midnight hatch]

I suspect they are scams.

[swift pewter]

Me2, will be looking into it later today.

[lilac coyote]

Hey, just catching up. Has there been any talk of staking v2 lately?

[delicate cloak]

Any DMs are scams. Don't respond.

[next ruin]

It's touched upon in Aaron's dev blog in #📣〕announcements.

[odd scroll]

Hey guys question is there a way to transfer staked Ilv to a ledger from MetaMask if it’s locked for a few months ?

[delicate cloak]

Nope. But it's possibly going to be an upgrade with staking V2. For now, it's locked and can't be moved until its unlocked.

[odd scroll]

Ah ok thank you

[gloomy gazelle]

Well you can’t transfer it to a new wallet while it’s locked. But I believe it’s possible to import your old seed onto your ledger. But since your seed has already been opened on metamask it’s not really best practice to do it that way. However I think it might be better than just leaving it on a hot wallet. Because once you get it into your ledger I think you could close down your metamask wallet. I’m not 💯 on this process so be careful and make sure you know what’s going to happen before going for it.

Remember that mods won’t DM you first. Don’t trust someone that looks like us but DMs you first.

[lilac coyote]

Thanks. What was the controversy surrounding V2 changes? Changing lock period/pool weight after migration?

[gloomy gazelle]

Just that the changes the community want take longer to create and so v2 will take a little longer to roll out. It may or may not be worth waiting longer for what we want versus just getting what could be ready sooner.

It’s not really a controversy. Just not consensus

[boreal cape]

guys clarification, i'm staked for 12 months, so i am stuck in v1 (even if v2 is already out) until my tokens unlocked, right? Also, the rewards that I will claim while in V1 will vest (12 months) in v1, is that accurate?

[gloomy gazelle]

I believe the migration will happen in two stages. All users can migrate to v2 upon launch of v2. All of The rewards earned will be claimed via v2. But the originally staked deposit(s) will remain locked in v1 and will need to be migrated after they unlock. (But the rewards they earn will be claimed/vested via v2)

[boreal cape]

Ok. I am planning to claim in 2 weeks so I guess it’s better to wait for V2. Thanks.

[gloomy gazelle]

There should be some info in this pre-proposal document and the attached thread discussion

#809220563397902346 message

[gloomy gazelle]

It depends on the size of your claim I’m sure.

10+ilv can earn significant value in a week

[next ruin]

If your calculations lead you to claiming only every few weeks, you'd probably benefit from waiting until V2 at this point IMO.

[boreal cape]

Of course. But I’m not ILVBull. Hehe. I don’t have that big amount staked. Just enough. 😊

I’m planning to claim every 1-2 months only. to make it worth because of gas fees 😓

[mystic kelp]

im kinda a noob in staking, can i send ilv straight from binance or do i need to send it to my meta mask? also, the ILV on my meta mask only shows send and swap not "receive" halp plz?

scams are efficient someone already dm'd me on discord lmao😆

[tall sapphire]

hey all, maybe a dumb question but why is my metamask setting gas limit @ 333980, but I see transactions confirming for under 150000. Is it safe to assume that's a safe limit to set to claim? Sorry, gas rates confuse me sometimes

[cunning perch]

you can send it from Binance to MM. send ILV on ERC-20 mainnet to your ETH address. Just make sure you have added the token address before that to see your tokens once they hit the wallet

[cunning perch]

many times the default limit on MM fails and you get "ran out of gas" error and lose ETH. I mostly add 50k more to it and it always gets done in 20-30 secs

[tall sapphire]

haha that's the complete opposite of what I'm seeing? It's double what others are confirming on the same amount or more of LINK. MM is offering 333k where others are spending 150k and confirming for the same amounts? Not trying to spend double what the reward is worth to claim it

[mystic kelp]

im sorry I didn't respond to your dm, can never be to carefull, thank you btw, ill make sure for the gas fees. also, if i understood right, i should have eth on my MM to pay for the gas fees to send ILV

[cunning perch]

what MM tells you differs from when the tx goes through. like for now it might tell you it's gonna take $200, but it will be lower probably. Its numbers are not accurate

[cunning perch]

You need ETH in your wallet for any TX on ETH mainnet. All the fees for swappig/transferring/approving/staking/claiming, etc is paid in form of ETH

[tall sapphire]

maybe I'm not asking this correctly...

Do others that claimed adjust the gas limit ever?

[cunning perch]

so many times ppl go with default limit on MM and they run out of gas. Adjusting it is never a must. I myself do it to be safe.

[mystic kelp]

ok sorry for asking to much questions lol, last one, how much $ in eth should i have to transfer from binance to MM to illuvium. Gas now says approx 18$ per transaction?

[cunning perch]

you don't need ETH to transfer from Binance. It tales the fee out of your ILV. I guess and equivalent of 0.0035 wirth of ETH. But when your tokens get to your MM, you need ETH in it too if you wanna do something

[tall sapphire]

I look at a transaction from 7hrs ago and it only took less than 150k gas. I am just confused why MM wants me to set gas limit to 333980. I know it is an estimate, but I'm afraid to do it wrong and get charged $300 for a small amount of ILV

[cunning perch]

well that's why I said I don't trust the numbers on MM 🙂 I personally wouldn't lower any numbers.

[tall sapphire]

I see what you are saying... Ugh $45 vs $300 is a hell of a difference LOL thanks

[cunning perch]

haha. well gas is brutal now. On sunday I claimed with 50k added to my limit and fast gas and paid only $70 when gas was around 70 Gwei

[mystic kelp]

soooo 300$ to stake right now?

[tall sapphire]

Damn, I just need to wait for Gwei to go back down then. It was at $600 at one point this morning, well at least MM showed that! I guess I need to learn more how gas limits work on ETH. I know different types of transactions take different computation/gas units, but do market conditions also increase the amount of gas units needed as well? Or is the limit the same for the same kind of contract and price fluctuation is purely Gwei fluctuation?

[cunning perch]

It's not just the limit. Staking is a complex TX and SLP is even more complex. for now Gwei is at 200 and def not worth doing anything. MM shows something, but I don't think it shows the exact amount it's gonna cost you. It depends on how many blocks need to be confirmed and if the network is clogged atm or not, which apparently it is atm. I would def wait.

[haughty saddle]

Honestly no clue if it will help someone, but I am using this extension https://gaspriceextension.com/
Works perfect for miners

[cunning perch]

RIP gas. Don't do any TX for now if you are thinking of doing one or 700 Gwei will rek you

[tall sapphire]

holy shit, it must have heard me LOL

[cunning perch]

def heard you. 😄 "you think 100 is high? huh? wait till I show you 700" lol

[tall sapphire]

lol that's exactly what I thought when I saw it 😂

[haughty saddle]

wait till eth decides on little dip 😄

[echo quartz]

what does this do exactly?

[haughty saddle]

current gas prices on eth
work perfectly for me for my mining stations so could do here

[echo quartz]

oh lol so the numbers are gwei, seems unreal

[next ruin]

https://tenor.com/view/reminiscing-good-old-day-old-memorize-gif-11810785

[tall sapphire]

lol

[haughty saddle]

Yea I doubt we will see those numbers in nov/dec

[devout seal]

Is there any security difference in v2 that can be explained please.

[gloomy gazelle]

Not by me. Have you read through the original proposal document?

[devout seal]

No where would I find that please?

[gloomy gazelle]

Here

I’m not sure there are very many changes to security. Securing a wallet is up to the holder. Using a hardware wallet is ideal.

[devout seal]

I can't seem to chat in that area I don't have permissions but was reading comments about migration to other address for compromised wallets. Keep us updated if any new info is on it please. Fucking scammers..

[long crypt]

Hi! How do I stake?

[echo quartz]

I suggest watching a video, what type of staking are you considering?

[long crypt]

There's a lot of people sending me to Illiuvium. Any moderators that can help me in staking?

[upbeat dust]

Use the official link don’t reply them in dms

[silent cedar]

https://www.youtube.com/watch?v=C6YugU4zZr4&t=1s

[silent cedar]

Also check pins in this channel for lots of useful stuff, calculator etc.

[final steppe]

!staking Here are some of the guidelines for the staking process as well (see below). Otherwise, feel free to let us know what questions you have and how we can help 🙂

But as Arrow was saying, none of the moderators or members of the team will DM you first. If someone DMs you claiming to be from Illuvium, do not listen to them and be sure to report them in the #🚨❗〕report-scammers channel

[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

[dull stump]

Hi guys

one question about staking

ILV staking shows that the APY is 41.47% and SUSHI LP shows 411.61% now if the SUSHI pays off more, why the ILV Staking is more than double the size of SUSHI LP? Am confused. Need some clarification before I lock them in

[final steppe]

Hey Nasser! So the reason for this primarily has to do with the rewards that you claim. Whether you're in the ILV core pool or the SLP pool, if you claim your rewards as ILV tokens, you don't receive them in your wallet immediately. Claimed ILV is first vested in the ILV Core pool and locked for 12 months, which is compounding your rewards.

[dull stump]

Hi Remi, aha ok, then that's why everyone has staked in ILV so they receive the ILV tokens as rewards. That's now clarified

what has been the best gas price these days guys? I have not seen going below 95 yesterday?

[brisk surge]

Well getting gas at say 60 to 90 gwei is pretty good. However with the staking currently the more you claim the more expensive it is.

[dull stump]

@brisk surge thanks tony

I heard it is better to claim a great number at once to reduce the effect of the gas fees

Guys I received a message from a guy saying Illuvium has started their stake 2, which is incorrect and definitely is a scam.

Here is the link to the scam site illuvium.com

[final steppe]

This is usually best, yeah! You want to pay the lowest gas fees you can so if you don't stake much, you may wait longer before you decide to claim your rewards 🙂

[final steppe]

Correct, scam.
Please take a screenshot and report them in the #🚨❗〕report-scammers channel so one of our lead mods can ban them, if needed

[dull stump]

his ID is Kroks_Jasper

[dull stump]

Thanks mate. I just did

[lusty pecan]

. I am personally not happy with all the changes made since the original IIP, but the player base should be,
because you asked for it. What did they mean by this in the Dev Blog concerning the v2 staking?

[slender fable]

is v2 staking on immutable x so fees finally go down?

[craggy field]

Quoting Aaron he sent this in #💰〕token this afternoon: Mostly that the changes were not that large, but still required new architecture. But overall it's still good, just not exactly how I would do it.

[final steppe]

We shall see the details once the IIP is published 😄

[final steppe]

Not yet.
But v3 is aimed to be on Layer 2!

[slender fable]

haha ok good to know

[grave lynx]

Should I start staking now or wait for v3?

[craggy field]

Most rewards are gained now during rhe initial months of yield farming. The yield decreases with 3% every two weeks so if you want the most out of your stake then I dont think waiting for V3 would be the smartest choice (NFA).
If your investment is so small that it gets zeroed by gas then yes you oughta wait for V3 or not stake at all which would be too bad :/

[brazen egret]

How do you stake or provide liquidity

[final steppe]

About to have the bot drop a bunch of info for ya here 🙂

[final steppe]

!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

[final steppe]

!lp