🥩〕staking

[worthy peak]

https://tenor.com/view/the-mental-of-audac-solo-gif-20119294

[unkempt oak]

I do have eth in my wallet to cover the gas fee. But I agree with @livid light if you are not dealing with $1000s then it’s probably better to just let the rewards you have build and not claim them.

[worthy peak]

then ask devs may be. in my case when I put more eth it worked. but i use Firefox

[craggy field]

Did someone get back to you about this? As far as i understand: you have to pay a % fee when you swap from one token to the other, of which a certain amount is sent to the liquidity holders.
Once you take out your SLP tokens, you will get your cut of the fees from other traders on top of your cut of the liquidity.
(After reading this attachment)
Im not sure whether this is 0.25% of the trades or if this is 0.25% of the 0.3% trading fees. In the latter case you get barely any rewards for holding the liquidity.

[worthy peak]

Thanks! Yep, also read this on their site, understood the same way as you did. I hope 0.25% of the trade, and 0.05% goes to Sushi

[craggy field]

If it is 0.25% óf 0.3% we would get a 400th of a 333th which is like 1/120.000th of a fee goes to us!? Ridiculous. Thats like 8 dollars per million dollar trading volume then further divided over all the liquidity providers. XD

[worthy peak]

It writes "0.25% of the trade", not of the fee, so looks like it is not that bad😅

[cyan rampart]

Yeah, it's .25% of the value of the trade, not .25% of the .3% fee.

[craggy field]

If thats the case then it is quite a bit!

[cyan rampart]

It's still split between a lot of people, but yeah, with high volume its a fair bit.

[manic hull]

Hey guys! is the native ETH staking a scam?

[mint cave]

yes - please post into #🚨❗〕report-scammers

[inner cove]

does anybody know a stakingpossibility thats as exciting as ilv is? i staked a few in ilv, but i am looking forward to diversify a bit… i love investing in games… thx for any recommendations! 🙏

[cunning perch]

Hey. If you are looking at other projects you should inquire in #799010390201466880 or #795845536128303175 not here 🙂

[inner cove]

ok, sorry ✌️

[golden trail]

I have a question about staking. Are your % gains, put back into more stakes ?

[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.

[golden trail]

For better Gains, can I just let the rewards pile up? Or do I need to claim the rewards and then put them back in ?

[cunning perch]

def u need to claim occasionally if you want them to compound and generate more rewards. V2 might change the mechanics. It will be published soon

[golden trail]

Thank you

[cunning perch]

No worries. Watch out for scams in case ppl started DMing you using other ppl's names

[fallow canopy]

What is the Apr right now for staking ?

[cunning perch]

you can always connect your wallet to the staking website and see all the details. Also, No one will DM you. Just saying in case someone decided to DM you under other ppl's names.

[echo quartz]

are rewards calculated in $ or ILV

[final steppe]

Hey Alex-- it's calculated in both. But I might be misunderstanding your question here.

If you look at your pending rewards on the website, it will show you how much ILV is pending as well as that $ value of that ILV 🙂

[clear cape]

they get given to you in ILV, not set to a $$$ equivalent

[echo quartz]

alright! That's what I was wondering thx 🙂

[final steppe]

Thanks RT7 😄

[prisma schooner]

Buy more SLP or let ETH go to the moon?

[golden trail]

Lets say I stake for 12 months...If I claim my rewards in 2 months time and put them back into the pool, will they be locked for 12 months or only for 10 months?

[final steppe]

12 months. Each claim you do will vest/lock those rewards for their own 12 month period.

[final steppe]

So say you stake for 12 months today.
Claim ILV rewards on 12/1.
Claim ILV rewards on 12/20.

Your initial stake will unlock 11/20/2022.
First rewards claim unlocks on 12/1/2022.
Second rewards claim unlocks 12/20/2022.

And so on... 🙂

[golden trail]

Interesting... thank you. At first glance that doesn't seem useful that your rewards will be so staggered... but then again the compound interest is very enticing

[final steppe]

The yield farming rewards will only be as staggered as you decide to claim them. I just used those dates as random examples. You could claim weekly, monthly, etc.

Keep in mind that while the yield farming rewards are locked for 12 months, your revenue distributions will be unlocked and you can withdraw those tokens immediately if you'd like! (Or choose to stake them for more yield farming rewards and revenue distributions 🙂 )

!revdis ⬇️

[woven ibex]

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

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

[golden trail]

Also... this might be a stupid question but you have been very helpful so I'll ask anyway haha.
Are gas fees Independant of the amount of ETH you are transferring ?
For example if the gwei is 100, does that mean I'll be charged the same amount if I transfer 0.00001 ETH as 100ETH?

[clear cape]

Yes

[golden trail]

When you select max to transfer all ETH to ILV does it automatically calculate to leave you enough ETH for the gas fee ?

[cunning perch]

on SUshi, no, you have to account for that. On Binance, yeah it will calculate and take from your batch

[ashen coral]

New to staking here i have just over 1 ilv and wondering what my best choice for staking would be?

Im finding it hard to make any moves with the gass prices

[cunning perch]

Hey. The decision is yours alone, but my suggestion is 1 ILV is not worth staking now, unless v2 changes it. The proposal should be announced very soon. (also if anyone DMed you under whatever name, it's scam. Be careful)

[ashen coral]

Thanks thats kind of where i have been at with 1 ilv. thanks for confirming and yes somone already messaged and i deleted it. fricken vultures

[cunning perch]

Glad you are vigilant. 👍 stay tuned, maybe V2 provides a better staking opportunity.

[solid acorn]

first time staking ILV, should the network be ERC20?

[azure jewel]

how do you know when your initial stake has been unlocked and can be withdrawn? not the rewards but the initial stake?

[coral pike]

the vesting tab

[azure jewel]

Thank you

[dim wagon]

Does anyone know what price silv is going for trying to determine if its worth it to claim silv to swap for eth and ilv to stake in the slp or if I should just keep claiming ilv and can't seem to find a price for silv

[solid acorn]

sorry for this noob question, just wanted to make sure before i transfer my ILV. ERC20 or BEP20 network?

[next ruin]

https://www.dextools.io/app/ether/pair-explorer/0xa7f72a1ec0ab189998a3eec8b886e6360aff39da $308 atm

[coral pike]

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 official value outside the Iluvium ecosystem

The price ,validity and liquidity can vary between platforms. Buyer Beware

Here is the link you can check the current swap value /purchase https://www.dextools.io/app/ether/pair-explorer/0xa7f72a1ec0ab189998a3eec8b886e6360aff39da

[final steppe]

Hey Capoeira!
ILV is an ERC20 token 🙂

[golden trail]

When I stake on illuvium, does it automatically select max ILV from my wallet ?

[potent sapphire]

I think at this stage we need a bot response about sILV and how it trades outside the illuvium ecosystem

[potent sapphire]

No, just hit the max button before you press stake

[hot lynx]

76 Gwei for #🥩〕staking 👀 @cunning perch

[golden trail]

Does your apy vary ? Or once I lock it in at current pay (39.67%) it stays like that for 12 months

[cunning perch]

APY and reward distribution varies (goes down) and will not stay fixed.

[golden trail]

Will it always go down ? It cannot go up from 39.67%?

[cunning perch]

APY changes when ppl join/exit the pool. Nothing is fixed. Also reward distribution drops 3% every fortnight.

[golden trail]

Is there only 1 approval fee ?
When I approve my wallet on illuvium there is a fee

[livid light]

yes the first time there is

[golden trail]

Just staked my first 0.51 ILV... hope that's a good investment...
The gas fees nearly made me faint 😱😫

[clear cape]

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

[hot lynx]

If you are fainting at 76 Gwei .. you gonna pass out on SLP and 180 Gwei 🤣

[gentle portal]

Do you pay same ETH gas fees when harvesting in sILV?

[golden trail]

Hmm about the gas fees... I thought the gas limit was always set at 21000. But mine was at around 30000...

[coral pike]

good site to track gas https://ethgas.watch/

[prisma schooner]

Hey everyone, Ive been playing around in meta mask nd crypto for almost a year now.. Finally got scammed over on JRNY NFT discord. Read a post that looked like an announcement post on my phone, turns out it was a DM. Didnt realise the difference looking at mobile. I believe all I did was connect my wallet and send .15 eth to the scammer. I've used etherscan to look at any smart contract approvals and do not have any from the scam site. I've also removed the sites approval to connect to my wallet.

Is there anything else I can do to ensure my wallet is safe? I cant just send all my coins off and ditch the wallet because my ILV smart contracts are setup on it.

[cyan rampart]

If you're 100% sure you manually sent ETH to the scammer without interacting with any smart contracts, you should be fine. In your shoes, I'd remove any substantial holdings, and leave a bit of ETH in the wallet. If the ETH goes missing, you know the wallet is compromised. If it doesn't, it's unlikely a scammer is going to play a waiting game, and you're probably fine.

You could also check out the JRNY discord, surely others were scammed there, and you can see if their wallets are compromised.

[cunning maple]

Agreed. The gas requirement and two sets of claiming transactions are 100% bullshit - can’t claim on a L2 either. Poor.

[delicate cloak]

Yeah it's all bs, it's all Illuvium's fault for ETH gas fees. My life is ruined.
/s

[cunning maple]

Who made the choice to put the smart contracts onto Eth then?

[delicate cloak]

This has been discussed to death. Staking started when gas fees were way way lower.

Ethereum is the choice blockchain for many reasons. Decentralisation and security to name a few. Gas fees suck but it is what it is right now. Staking V2 is coming soon and that'll help optimise the process.

[cunning maple]

Beaut. Guess it’s not a problem then. Thanks for clearing that up.

[delicate cloak]

Sorry for the smartass response before, just get a lot of "why isn't it on xyz blockchain?". Despite Ethereum gas fees, it has a lot of pros as a blockchain.

Lots of info around about staking if you need it. V2 will still be on Ethereum so there will be gas fees but it'll be more optimised. We are expecting a proposal soon, see Wendy's announcement in #809220563397902346 . The long term goal for staking V3 is IMX I believe so it's super cheap.

[cunning maple]

Cheers, agreed L2 would be the ducks nuts if the staking contracts moved over. Always struck me as weird the game would be on IMX but the staking was baselayer . Just super pi$$ed that claiming 2 ILV costs ~$500AUD. God bless Wendy by the sound of it.

[delicate cloak]

Highly recommend Aaron's dev blog which he's starting and the first one is in #📣〕announcements . If you search through Aaron's posts he discusses staking recently too and why it was how it was.

The issue was IMX wasn't ready at the time I believe and even now I'm not sure how feasible it is to move it across. That is the long term goal but for now we will get an improved version. ETH gas really sucks but weekend is the best time. It's not bad right now.

[spark rose]

hi, i would like to ask opinions about collecting staking rewards: i staked some ILV/Sushi, and am in liquidity pool. should i periodically collect ILV and sILV (it says i have 10 ILV to collect)? or leave it and dont touch it for a year?

[rapid kestrel]

Any1 can advise the est rewards i can get for staking 1Slp / mth with x2 weight currently?

Been looking at ilv since $500 still not decided yet if i want to buy and stake

[livid light]

1 SLP token with yield .057 per day

at current rates

or $60 a day in rewards

[night arch]

Hey, im new to all this but your getting 60$ a day at current rate with how much invested? 1ILV? also is that a year fixed?

[delicate cloak]

1 SLP. Which is about 2.1ILV and 0.5 ETH last time I checked.

None of these are fixed rates. I suggest reading the pins and checking out some of the staking videos.

[night arch]

No I wasn't meaning fixed rates I was referring to locked in for a year in the staking, because I heard there was some form of flexible staking where you can withdraw, also thanks for the response that's good to know, ive watched some vids already but ill check em out

[delicate cloak]

You can do flex or lock up. Locking increases rewards. 1 year lock gives you 2x the rewards. The rewards diminish over time too but staking rewards run until 2024.

[night arch]

Sounds good thanks for the help!

[wooden pecan]

hiya, wondering if someone can help me understand - still tryna work my head around all this - I'm trying to withdraw ILV from Binance into MM so I can start staking, but the withdrawal keeps getting rejected because the network is busy. It only rejects it after a couple minutes so I dont understand if i just have to keep trying or if I'm doing something wrong. Not sure if I need to have eth somewhere to pay fees? Binance seems to be saying that it will take fees in ILV. I can't see anywhere that I can set a higher fee to prioritise my transaction...

[atomic lagoon]

Are you using the correct ERC 20 network? Last time i did the transfer from binance to MM the fee was about 0.032 ILV.

[wooden pecan]

yes I set up an account on MM on ERC 20

[atomic lagoon]

I mean in binance when you withdraw you have to choose the network too.

[wooden pecan]

oh sorry yes its set up on ETH (ERC20) I just double checked

[wooden pecan]

oh wait I think I set the Address Origin incorrectly - set as binance instead of MM - will try agin

[atomic lagoon]

I am not sure then.. may be it is a problem from the binance side. Try again in about an hour?

[brisk surge]

After clearing my browser history, cookies and cache, I my staked ETH/ILV isn't showing up anymore?
I don't see any ILV in the Rewards or Vesting on the site or in my Metamask on Etherium Mainnet. What happened/how do I fix it?

[wooden pecan]

Thanks Kuki....I tried again with the address origin correct but still saying network busy so will just keep trying later

[golden trail]

Will I be able to see the gas fees clearly before claiming my rewards? I staked normal ILV at 0.5 ILV for 12 months. When would you say its worth it to claim the rewards ?

[potent sapphire]

Personally I don't claim rewards if the gas is more than about 25% of what I'm getting. Wait till rewards are higher or gas is low. If you are willing to wait gas can get as low as about 60 gwei which translates to $90 aud for me so I don't withdraw unless its about $350 or more in rewards

[cunning perch]

25%? Wow you are spending way too much gas.

[clear plinth]

Hello.Is it possible to add to the already existing SLP pool?

[cunning perch]

Hey. You can make as many times as you want. But it has to be a new SLP. You can add to the SLP stake many times. (also watch out for scams in case someone DMs you under whatever name )

[clear plinth]

Ok, thanks for quick answer Arash👍

[atomic lagoon]

I think this is a really good video for those who are planning to stake or you are thinking about what to claim. If the mods think so, may be we can pin this video as well?
https://www.youtube.com/watch?v=jtb7M4w6hCY&t=61s

[cunning perch]

There are always calculator they can use. You can share the vid in #🎨〕community-content so everyone can watch

[clever swan]

any update wen v2 is coming out?

[cunning perch]

Nope

[carmine drum]

Gas is 60ish 10 minutes ago, Arash.

[cunning perch]

Yeah just saw that. 😄 well good for the ones planning on to claim now.

[clear cape]

patiently waiting for v2 iip and timeline 😴

[carmine drum]

Gonna try hard by setting it 40ish in MM

[cunning perch]

So are me, myself and I 😄

[clear cape]

v2 was set for next month, so I hope we get iip before end of November

[cunning perch]

Well I can't bypass my 1% rule, so I gotta have to wait haha

[neon mango]

Hello everyone. I have 1 illuvium on binance. If I transfer it to the Ethereum chain, buy more Ether, is it worth staking it on Sushi LP or is it not profitable?

[cunning perch]

Oh it should be out soon. It needs to be read and approved. I hope they do it before the end of this epoch

[clear cape]

When is this epoch ending

[carmine drum]

Damn, you must be crazy rich with such patience.

[cunning perch]

Hey I wouldn't suggest that for 1 ILV, but that's still your choice. Also watch out for scams in case someone DMs u under whatever name

[cunning perch]

A week or two? Not sure

[cunning perch]

lol. Me wanting to claim when it's only 1% doesn't mean I'm rich. 😄 it just means I'm trying to save up on ETH and for that I've gotta wait a lot 😄 (and well, I'm patient haha)

[neon mango]

Thanks. :)

[cunning perch]

@carmine drum still I'm waiting for V2 to see if migration for locked tokens is implemented for sure or not and wanna see if migration also requires first claiming the rewards. For that I’d rather have some ILV to claim that would be worth the gas, or I will have to pay once for 0.0001 ILV and one to migrate which I'd rather not do tbh. Haha

[carmine drum]

Good vision, good plan!

Be ready for any scenario.

[tropic stump]

When will binnance allow ilv staking ?

[cunning perch]

That's Binance’s to decide, even if it does, It would be a waste of time and there's no reason why someone would wanna stake ILV on a CEX (even when gas is not favourable)

[cyan rampart]

Finally staked the SLP tonight 😄

Only wasted $80 once by being a moron and failing at basic math

[cunning perch]

Oh I thought you already had

[cyan rampart]

I was waiting for this cheap cheap gas

My Core Pool stake unlocked like 5 days ago

[cunning perch]

haha. Hope you make hundreds of ILVs out of it 😄

[gentle pumice]

gas seems decent now , claimed rewards with 69 GWEI some minutes ago

[past falcon]

I also watched the video, but I'm not so sure the conclusions are correct.
On the one hand, you really have to keep an eye on the gas fees in order not to pay too much. On the other hand, it also has long-term effects that cannot be precisely calculated, since you can only participate in the RevDis with the ILV share in the SLP. I wish @steady trellis or @elder dawn could have a look at the calculations.

[safe schooner]

Hi ! If I claim my rewards in sILV, do I have the same gas fees as if I claim in ILV ?

[cunning perch]

yep. claiming either will incur gas

[coral pike]

congrats did you have any trouble setting up you HW you bought Ledger if i remember correctly

[safe schooner]

Ok, so it will be the same amount ?

[cunning perch]

yeah It should be based on the Gwei. It is the same claim with different destinations

[safe schooner]

Ok thx you !

[elder dawn]

The conclusions are correct right now, with a couple other watchouts. First, by my tax strategy and geography, I need to pay taxes on the gain/sale of sILV, costing me another ~40% versus no immediate tax on claimed/vesting ILV. That takes the theoretical SLP down from $3000 in FHG's example ($2250 with transaction fees) to $1050, so it's 0.23 SLP. The second risk not mentioned is the impact on rev dis - people employing the sILV-to-SLP tactic will be behind in ILV for more than a year versus claiming ILV. If rev dis takes off, this strategy earns less. The biggest risk is many people doing this and SLP population growing, which will drop the yield rate. Its stabilized recently (post auction expected Q1 2022), but the month previous dropped considerably. Here's my assessment on the strategy discussed. https://www.publish0x.com/ilvfi/illuvium-s-gift-cards-all-about-silv-part-1-silv-to-slp-stra-xwwkndg

[golden trail]

This might be common knowledge but I can't find it anywhere. How do you calculate gwei to actual £ / $ ?
For example if the gwei is 100, what will the fee be ?

[elder dawn]

check out Vetemor's calculator here #🥩〕staking message

[finite bear]

is staking locked?

[elder dawn]

you have your choice when staking - selecting flexible or locked for up to a year. The longer you lock, the greater the rewards. If flexible, you can withdraw your initial stake at any time, though you earn half the rewards of locking for a year. Rewards claimed as ILV will be locked for a year regardless and those claimed as sILV will be available immediately regardless.

[finite bear]

is sILV same value as ILV?

[elder dawn]

For in game use, sILV is pegged to the ILV price. However, it trades on an unofficial Uniswap exchange and is currently only about 30% of the value of ILV. https://info.uniswap.org/#/tokens/0x398aea1c9ceb7de800284bb399a15e0efe5a9ec2

[finite bear]

wait so when can u swap sILV to ILV?

[coral pike]

If you have a sILV coin in your wallet you can swap any time you want please read below

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 official value outside the Iluvium ecosystem

The price ,validity and liquidity can vary between platforms. Buyer Beware

Here is the link you can check the current swap value /purchase/sell https://www.dextools.io/app/ether/pair-explorer/0xa7f72a1ec0ab189998a3eec8b886e6360aff39da

[finite bear]

ah okok thanks

[past falcon]

Thank you for your brief analysis 👌
I will probably stick to claiming ILV, because I actually want as many IlV as possible for RevDis.

[fair locust]

Dears I need help - I would like to stake ILV on SUSHI LP

[livid light]

I am going to the SLP method for coins as you seen in the video faster coin rate more coins to have!

From 12 to 18.48 SLP tokens Thank you Illuvium!

[brisk surge]

!lp

[woven ibex]

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

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

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

[brisk surge]

Have you watched the Youtube video on it?

[sacred cosmos]

You need same usd value of eth with your ilv to swap into SLP. Make sure you have more than enough eth for transaction fees

[livid light]

You stake the coins on Illuviums website and not on Sushiswap... common mistake

[fair locust]

Done already - I think now I‘ve to add SLP contract to my coinbase wallet

Because it still shows only eth & ilv

[brisk surge]

!contract

[woven ibex]

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

[fair locust]

Cant add new contract on coinbase wallet.. 😅 checking

[sacred cosmos]

You could just go to the staking site and stake it directly. It'll recognize your SLP on you wallet anyway

[fair locust]

Shows balance 0

If I use just ILV pool it shows me my ilv balance for staking

[brisk surge]

Have you tried to refresh the page?

[sacred cosmos]

You still had ilv from swapping it to SLP?

[fair locust]

But not on SUSHI LP

Ok now its ok

Thanks a lot, one more question 😁 will I get now SLP tokens as reward from staking? Or ILV? how can I change the SLP‘s after staking back to eth & ilv?

[ionic heron]

hi. newbie here. i am trying to swap SLP token in sushi swap. my MM showing Approve ILV spend limit as an activity. What does that mean ? I had already approve, but dont see SLP in my MM wallet yet

[azure quail]

What would be the benefits of staking slp or ilv at this time in the roadmap?

[craggy field]

Graph 1: This graph depicts the amount of rewards you can gain in ILV per fortnight. In both the SLP pool (orange), and the ILV pool (pink) This amount is divided over all stake-holders. As you can see, staking now would net you a substantially larger amount of rewards relative to staking later.

[azure quail]

gotcha thank you, i figured that was the case I wa sjust curious in terms of contending with the crazy gas fees ya know

[fair locust]

Can I claim my rewards on flexible staking daily?

[craggy field]

You can claim them every day (as ILV) but they would be vesting for another year unless you claim them as sILV. SILV however has no usage yét and can be used starting from the landsale.
Aside from that, the gas is quite high and it quickly costs 40-70$ to claim your rewards. Up to you to decide whether this is worth it for the amount you claim.

[sonic wolf]

forthnite means 2 months?

like wtf why not use months

[craggy field]

Two weeks.

[sonic wolf]

or weeks

so biweekly

is this aussie thingy? forthnite?

[craggy field]

Fortnite is a global thing no? At least among the younger generation 😏

[fair locust]

So after claiming staking rewards as ILV they are still locked for a year? Or did I misunderstand something 🙂

[craggy field]

After you claim your rewards in ILV, these ILV rewards will be locked for a year.

[cunning perch]

It's a Game of Thrones thingie 😄

[fair locust]

So locking period 52 weeks and additional 52 weeks locked alright

[cunning perch]

!claim after each claim (in form if ILV) your claim will be locked:

[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.

[crimson cipher]

And where are we today

[fair locust]

Do we get distribution revenue for ILV also when they are staked?

[brisk surge]

Give me a second I'll show you

[void axle]

So you have to be staked for a year to be "vested" and then be able to pull the rewards right? You are gaining the rewards the entire 12 months just cna't pull it out right?

[brisk surge]

Yes you will get the revenue distribution when you stake ILV.

[void axle]

Is it worth it to stake just 1 ILV?

[brisk surge]

No when you account for the fees.

[void axle]

Dang.....obviously late to the party then with 1 ILV being over 1k

[azure quail]

So can we convert sILV back to ILV once we've collected the benefits or once something is in sILV its stuck like that?

[atomic lagoon]

You are never late 🙂 this is just a beginning

[scenic quail]

Not really, once you make it sILV it only has the 1:1 value with ILV if used for in game purchases.

It is possibly to convert back using uniswap, but it would be at a huge loss. Currently sILV is worth about $290 on uniswap

[azure quail]

gotcha okay thanks for the clarification

[fringe spade]

just took my rewards, woop woop.

[brisk surge]

whale alert 😄

[fringe spade]

no just a fish xD

[delicate cloak]

That's amazing. One can dream! Did you get in early or just got heavy bags? LOL

[fringe spade]

50-50, i got in around 250 to 350 . Bought my first ilv 3 months ago approx
i invested 50-70K dollar

[delicate cloak]

Great ROI and conviction in the project. Well done! 👏

[fringe spade]

Thank you!! Been in crypto since 2017.. every one can do it over some years. 🙂 Just don't follow/buy hype

[delicate cloak]

That's great. I've been a casual spectator for years but only got in this year. Some regrets from not trying harder to mine BTC back in 2012 😅 better late than never to join the party though.

[fringe spade]

Oh well.. we are still early in the grant scheme of things.
Always good to recommend your friends and family to invest like 50 to 100 dollar each month in the market.. Even when they are not sure.

Once they have some skin in the game, they will want to learn more about it no matter what.

Bitcoin / ETH is never going away so you can let them invest without worrying to much haha

[delicate cloak]

That's what I had to tell myself to get over the "it's too late" mentality, which it really isn't. And I never thought I'd find something as early and lucrative as BTC but I feel like we may have found something in that realm here. Time will tell.

Totally agree too. Having a little in makes you more invested in learning about the tech.

[fringe spade]

You will do well brother.. 5 to 10 years and you will be financially free. If you have income and invest in the market regularly that is.

Keep up the good work. 🙂

Yes agree... ILV, the team are amazing really bullish on the future.

[delicate cloak]

Yep, that's the plan! Appreciate it 😁

[dusky eagle]

Is there a forecast about revenue from game transaction/ILV staked?

[urban aspen]

Just saw that someone said it wouldn't be worth it to stake 1 ILV because of fees. Can anyone elaborate on that?

[hushed valley]

Everyone is entitled to their own opinion. Essentially, gas fees are high so to stake 1 ILV, it may cost you $100-150 to do it. The thought is that the return you get from doing so wouldn’t make sense….I disagree NFA

[cunning perch]

Rev is generated by ETH spent in ILV ecosystem. You can inquire in #💰〕token

[hushed valley]

With RevDis and YF I think you can make your money back and then some pretty quickly

[cunning perch]

You can try the calculators pinned in the channel and find out 🙂

[meager hemlock]

Guys gas almost never goes below 80 GWEI nowadays?

[urban aspen]

Cool thanks for the help

[cunning perch]

I saw 50 today

[meager hemlock]

for how long 5min?

[cunning perch]

No actually it dropped to 50 then 60. Was there for about an hour or so then went back up to 60-70

[coral pike]

You can track gas 24 hours a day for a week with this https://ethgas.watch/

[meager hemlock]

ok, I check every other day and always I check its 80+, just was curious
@coral pike nice resource 🙂

[cunning perch]

Def not cheap. Even 60 is expensive imo

[meager hemlock]

just now it was 90-100 and it said gas estimated between 175-200 USD 😡

[cunning perch]

MM usually shows a number but it ends up being cheaper after the TX is gone through. I guess it depends in go many blocks it interacts with.

[coral pike]

Gas is the nemesis of all who transact on the eth network

[meager hemlock]

yes very annoying

[brisk surge]

sad part will be grab land for 5 sILV but spend 1 eth on gas 😄

[still cloud]

Hi. I just staked SLP. What happens after my lock ends and I withdraw? I get the same amount of ILV and ETH back that was used to create the SLP? Thanks

[brisk surge]

After your lock ends and you withdrawal you will get back the current value of your SLP you can check this here https://app.apy.vision/

[still cloud]

Thanks. So SLP price depends on the price of ILV/ETH at the same ratio as I bought it today? ie, if ILV and eth are both up 300% in one year then should I expect my SLP to be up 300% in value as well?

[brisk surge]

Well not exactly because it depends what the value of that would be, the way SLP works the ILV amount you put into it in the beginning is the equal amount to ETH however as times goes on the IL becomes larger but then the amount of tokens you are getting is higher than then amount of IL.

So you may end up with less money in the value of the ILV amount you put in to what ILV and ETH you take out but by then it should be benign cause of the amount of rewards you got.

[still cloud]

Thanks. Final question. I just staked 2 ILV plus equal eth for 1 year. If I don’t need to use the tokens and just want a long term investment, am I losing value by not claiming rewards frequently (or at all until the end of 1 year?).

[agile hearth]

Hi, why don't I see the fees earned on Sushiswap for providing liquidity? Is it because I have staked my SLP on Illuvium and will see them once I unstake?

[brisk surge]

Because the treasury uses those fees to increase the value of SLP, you only get rewards from SLP in ILV or sILV

[agile hearth]

Got it, thanks 👍

[agile hamlet]

is it better to stake ILV or SLP?

[cunning perch]

there are calculators pinned in the channel to help you with that. And remember no one will DM you. Any DMs under whatever name is scam

[past falcon]

I'm really not so sure if this is such a good method.
I made a comparison calculation over 3 months and achieved 50% more overall return with ILV staking than if I had claimed it as sILV and staked it in the SLP.
The main problems currently are the very high gas fees (maybe you could let us know how much the hole process costs right now) and the low sILV value.
Of course, these are only approximate calculations, because within the next three months for example sILV will certainly approach ILV at times, which I did not take into account in the calculations.
But I would advise everyone to do the math for themselves.
Based on my calculations and the current market prices it doesn't seem to make sense to me right now.

[agile hamlet]

I didnt stake bei ILV because of this high gas fees

[past falcon]

Well, I've already sent DMs to people here and answered DMs sent to me. Not every DM is automatically a scam

[cunning perch]

if you mention it in general that "hey man I'm gonna send a DM" then sure. But scammers keep on probing #🥩〕staking using our names to DM ppl. And guys who are new to Crypto easily fall for that. You have NO idea how much they have lost so far

[past falcon]

Well, I can only imaging how much money has been robbed using DMs. But yeah, maybe first advise here and then send a DM.

[cunning perch]

Yeah it's a better choice to tell them in public. Scammers have been using the names of ppl who are active in channels (esp Mods and team) but I've seen some who have used normal ppl's names too. So if you are already active, you are a perfect target for them to take advantage of.

[clear cape]

I did calculations too with a few other people. When you also factor in tax stuff, turning silv into SLP isn’t actually as clear cut of an option as some people think

[past falcon]

Will keep that in mind 👍

[past falcon]

From what I know from Deraji, it is no longer worth it at all if you include taxes.
We don't pay taxes on capital gains where I live. Nevertheless, from my point of view, this only makes sense if the gas fees are significantly lower and sILV is priced closer to ILV.

In addition, and you mustn't forget that, the RevDis in my calculation were 50% lower if you staked more in the SLP than if you claimed ILV.
And that should become more and more important in the future.

[clear cape]

Yeah it’ll be quite dependant on how revdis performs too

[grave lynx]

buy the dip and purchase 2 ETH of SLP for staking?

[brisk surge]

Ive been here a couple months and ive never seen anyone regret buying SLP for staking.

[grave lynx]

sounds good. doing it now lol

[brisk surge]

make sure youre using official links. Lots of scam sites right now.

[grave lynx]

yes I am

[livid light]

@past falcon with gas fees I account for roughly $500 in gas or lower which I try to stay to Sunday night, based on all the calc I have used the SLP token comes out higher... the only major factor we do not know is Revdis at this point

Also depending on the price of sILV it makes a difference, it was at $550 and now its running about $300 while the gas remains the same

10 ILV tokens will give me 0.3 ILV reward tokens over the 30 day period just using straight math, while the same .5 SLP token would yield .87 rewards

so ILV would yield $300 and SLP would yield $870

the question comes in on owning 10 ILV tokens vs 1 ILV/.25 ETH paired when it comes to revdis

So there is no real way to know the answer to which is better Time will tell

There will come a point where the rewards are gone and pair is broken and sold off just leaving ILV left

[past falcon]

Thx for the answer. I will have to do a more detailed calculation tomorrow.

[livid light]

$271.95 was the total gas fees last night from reward redemption to restaking in the SLP pool

running 80-100 GWEI and what I do it every Sunday

Trust me I am not defending it in any means and if it does not make sense PLEASE let me know

[past falcon]

I will.

But I guess I will have to put a little more work into this...

[livid light]

It also helps that the Sushi LP pool is up 70% from when I start staking

three months ago

[hearty shore]

hello, im trying to stake through my ledger? but its not letting me conifrm... i have plenty of ETH in wallet... and have 1.9 ILV ready to go.. not sure what im fdoing wrong?

[crimson cipher]

Do we have information on this ?

[livid light]

nope RevDis is anyone's guess could be $20 million could be $500 million

[hard citrus]

heres a silly question...I was only able to afford 1/4 ilv and stake it. will I get RevDis as well?

[livid light]

yes you will 🙂 all ILV will

[hard citrus]

ahhh gotcha thanks. it will just be piddly right lol

[livid light]

well all staked ILV and not just rewards... it has to be staked to earn rewards

[hard citrus]

yeah, I locked it for a year

[livid light]

then your good even after a year it stays staked and earning until you remove it

[hard citrus]

awesome! will the amount keep adding to it or be seperate

[livid light]

the Revdis is in unlocked ILV but if I remember correct it earns when you receive it and you can claim to take it

[hard citrus]

so I can just keep adding it to my already locked ILV then?

[livid light]

There will be another island on the dashboard for RevDis that shows it seperate

[crimson cipher]

Not the amount but how will it be distributed. Will people staking ILV and SLP get the same amount ?

[livid light]

it is based on ILV tokens so the amount of SLP tokens that hold ILV yes so SLP will get less RevDis

let me see if I can find it where is that bot!

[hard citrus]

lol...nevermind, its gonna cost me 139 bucks to claim 7 dollars of silv. ill just hag on to it lol

[livid light]

How is revdis paid?

Revenue distribution is paid in unlocked ILV. The Vault (DAO’s storage of ETH paid) uses the Sushi Liquidity Pool to swap ETH for ILV, and it is this ILV that is distributed to eligible tokens. Those who receive this ILV are allowed to sell, swap, or stake as they see fit. For those in the yield farming pools, you will receive ILV in the wallet associated with your staking. Should you want to add this to your existing pool, you must actively create a new staking transaction and pay all associated transaction fees.

So we get the tokens unstaked and have to burn gas to stake them and get more rewards from that making those tokens eligible for more Revdis

https://www.publish0x.com/ilvfi/illuvium-revenue-distribution-explained-xlzeyom

[crimson cipher]

But it doesn’t say SLP get less revdis

[livid light]

it is based on the ILV that you hold if you had 10 ILV and 10 ILV in the SLP pool it will be the same from what I understand

but to get 10 tokens in the SLP pool you have to have WAY more invested due to the split of the pool

to get 10 ILV you might need $10k at $1000 each to get 10 ILV in the SLP pool you need about $20k invested

for the same RevDis 🙂 hope it makes sense

[sonic wolf]

dollar for dollar they get less

[livid light]

yes with a 50% split between pools

[sonic wolf]

since 50% of LP token is ETH that dont get revenue, only the ILV portion does

[crimson cipher]

Thanks for this article

[sonic wolf]

but inflationary rewards are 10x

[livid light]

so get in early in the SLP pool and as rewards go down start claiming into the ILV token 🙂 for RevDis

[crimson cipher]

I see thanks a lot

[jagged mason]

When the staking block reaches the desired block, will our rewarded coins be deposited into our connected wallet?

[cunning perch]

hmm.... you mean when staking? when all blocks are hit your token will be deposited in the desired pool. The reverse is when the token will hit your wallet (all after paying the gas)

[coral pike]

this is one of the ones i answered is #814313779696238642 people post the same questions in multiple channels

[cunning perch]

sure. Many questions have been asked and will be asked many times in different channels. If they do it in many channels simultaneously, we ask them politely not to do that.

[brisk surge]

Hello i want to stack my ilv they are on binance. I dont have metamaske. I can stack whithout metamask ?

[sonic wolf]

you have to use some wallet. Metamask is the most convenient

[brisk surge]

Ok tks

[karmic breach]

Is there any way to only claim the SLP ILV staking rewards and not the ILV pool rewards?

It costed 350+ just now to claim EACH, and it's really not worth it to do the ILV rewards since they are so much smaller... I always click the SLP claim button, but it seems like it always does the ILV one first no matter what, and then I have to do ANOTHER very expensive transaction to claim the SLP...

Wondering if I reject the first transaction, and then accept the second one if it'll skip straight to the SLP claim?

[brisk surge]

Unfortunately because of the way the contract operates the ILV pool rewards need to be cleared in order for the ILV rewards from your SLP stake to be added into your ILV pool.

Word is that staking v2 should address this issue, hopefully it will be out before the end of the year.

I wouldnt recommend canceling a transaction as it will probably just cause the second transaction to drop.

The reason its so messed up is because the staking contracts were designed when gas was around 10 gwei, not 100 so the little inefficiencies werent an issue at the time.

I did (accidentally) have success one time by noncing the first transaction with the second one during a staking transaction but probably not the best idea to try and juke out the staking contract. Who knows what could happen.

[karmic breach]

damn. Yeah, I got fucked cause I didn't realize this yesterday, claimed a small amount of ILV, and saw my ILV in the SLP were still there today... so when I went again, I had more ILV built up so had to pretty much do 3 claims to get my balance in the SLP good to know it's being planned to be fixed though!!

[clear cape]

A lot of us have been there 😅

[karmic breach]

lol, yeah, not too bothered given ILV is singlehandedly making me a rich man so don't have too much to complain about 😂 🤷‍♂️

[ionic heron]

Hi all, while im doing sushiswap to slp. There was 2 metamask confirmation to approve ilv limit. I accepted but my eth and ilv didnt swap to slp. But some gas fee was paid for approval and ive checked that the transaction was successful. Anybody encounter this issue ?

Hope someone can help me on this. Thanks

[jovial root]

I think it required 1 more click.
I think it is 3 transactions.

1 to approve ETH, 1 to approve ILV and 1 to stake it in the pool.

Then you will have another 1 or 2 transactions to take the SLP and stake it on the illuvium.io website

[ionic heron]

Thanks. I didnt expect so many transactions. Is pretty confusing for someone new to this sushiswap space 😩

[jovial root]

Yes I agree, and struggled with it also.
Even just trying to figure out how to add new tokens to my MM wallet..

Crypto has always been a steep learning curve, with a deadly fall either side

[ionic heron]

Indeed. Is costly affair even just to stake .. all the gas fee. Gosh

[brisk surge]

Check out the pinned messages for the staking tutorial video and the gas fee calculator. You may want to try for lower gwei, I usually shoot for 60-80 which would be about half of what it is now.

[placid wind]

I am still unable to stake my ILV after several days of trying. Can someone please advise, this is getting ridiculous

[livid light]

where are you trying to stake it?

[brisk surge]

is revdis automatically staked?

[mint cave]

no

[livid light]

on the Illuvium website? is it in your Metamask does the website see it? RevDis is not

[mint cave]

revdis will accrue in its own section of the UI, and you'll need to claim it

[compact cipher]

if i claim my rewards now, its gonna stake for another 360 days again?

[mint cave]

every claim action will begin a 1 year unlock for the amount being claimed

[compact cipher]

what if it's claimed as sILV?

[mint cave]

immediately transferred into the connected wallet

no lock

[compact cipher]

nice, thanks! + gas fee right? @mint cave

[coral pike]

FYI silv only has true value in game or land sale

[mint cave]

yes

[brisk surge]

or if someone gives you real value for it lol

[coral pike]

I have not seen silv go for = ILV which is what i mean by true value

[still cloud]

I just locked up my SLP for 1 year. Do I lose value by not claiming any rewards until the end of the year? (I don't care about the release dates for the coins)

[sacred cosmos]

What issues are you running into?

[ivory tusk]

yes because when you claim your rewards in ILV, they go into the ILV staking pool and start earning you the yield (approx 40% apy) at 2x weight (because they are locked for a year) but they start earning you the yield immediately after claim

As long as the amount youre claiming is a lot more than the gas fees to claim it

[still cloud]

Ok, I see. Thanks. Got a ballpark number for "a lot"? What's a normal time frame to claim rewards...weeks/months? I'd rather not take 3 hours trying to figure out that calculator. 🙂

[clear cape]

When gas is 1-5% of the rewards you claim

[ivory tusk]

it depends how much you have and how much rewards you get....everyones tolerance is different but id make sure gas is less than 10% of what youre claming max

[still cloud]

Thanks guys.

[proven geyser]

I wish I could claim all 3 of my stakes with one gas transaction 😔

[shrewd fossil]

Hi, if I have multiple stakes in SLP, does it require multiple transactions to claim rewards or can they all be claimed in one transaction? Thanks!

[gloomy gazelle]

One transaction

But you will also have the ILV only pool to claim as well.

[gloomy gazelle]

Sounds like this may be possible in v2 staking

[proven geyser]

i'm hoping so...just gonan wait around for that

[gloomy gazelle]

Though currently As long as your deposits are in the same pool then they do all claim at once in one transaction. But if you are in 3 different pools (ILV, SLP, flash) then it does take multiple transactions.

[shrewd fossil]

Thanks! Yes, understood re. the ILV pool being a separate claim. Just wanted to check on the SLP side before starting another position. Appreciate the quick response!

[elder dawn]

Hey @livid light - you might want to update the disclaimer on your Illuvium rewards video to delete Vetemor's name and change to your own. Also, I've commented a few times on your video to help people with some of the risks you missed on this sILV-to-SLP strategy, though my comments seem to be missing now. I'm all for sharing my calculators and dashboards as I'm putting this stuff together to help people, so feel free to link and give credit to make sure people can do their own analysis.

[clear cape]

Using Deraji’s work without giving credit, deleting his comments when he is trying to help people and then blatantly using Vetemor’s disclaimer, while forgetting to take off his name isn’t a good look.

[daring glacier]

Is it worth to claim the ILV and put it again to staking

[coral pike]

when you claim a ILV reward form either of the staking pools it is automatically vested and staked in the core pool for 365 days at a weight of 2x So you wont be able to "use" your rewards for 1 year after you claim it. The one year does not start while waiting to be claimed.

[daring glacier]

ooh ok. so better the just leave it there

[past falcon]

Interesting that you say that here now. I had also posted the link to your calculator in a comment and when I checked it again later, my comment was gone.
I thought at first that maybe I accidentally hadn't posted it. But now I think more that it has been deleted.

[clear cape]

Classy AF @livid light 👏🏽

[marsh lion]

Does the lock period affect revdis or just the APY?

[worn steeple]

Is there anything written down that explains the difference between ilv and sushilp at all?

[elder dawn]

lock affects your pool weight, which is also considered in revdis. someone locked for 12 months will earn 2x the revdis per token as someone in the pool staked flexible.

[marsh lion]

@elder dawn then 52 week lock it is, thanks Deraji!

[elder dawn]

check out this video from Vetemor - he goes over the two pools pretty well in just a few minutes. https://youtu.be/7T2WzeXWC4k?t=459

[worn steeple]

yeah I saw that but is it written down anywhere or just youtube videos

[elder dawn]

are you looking for something official or just have more questions on it? There's the official Illuvium blog here, or I have a lot written on the pools at my blog at publish0x.com/ilvfi https://medium.com/illuvium/28-everything-you-need-to-know-about-staking-ilv-6669594b2fac

[verbal heron]

https://gfycat.com/glitteringgrimyamericanbittern

[jovial root]

I have seen the above car multiple times, and I don't understand it. Is it a meme thing... or they really did a Ferrari airdrop?

[worn steeple]

Doesn’t need to be official but all the written information on staking is relatively vague tbh

[elder dawn]

Check out my blog at publish0x.com/ilvfi. I'm definitely detailed and wordy, spending a decent amount of time digging into staking. Vague isn't really a term that describes my writing.

[crimson cipher]

I can confirm a lot of valuable info is in Deraji’s articles

[cedar orchid]

only a meme 😉

[simple arch]

The first step is believing

[jovial root]

Ahhh, thanks for clarifying!

Just wanted to make sure that my ILV wouldn't Suddenly turn into a Ferrari that I can't afford the insurance for 😲

[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

[marble mountain]

Hey, I have a question. Do the locked seed/team tokens recieve staking rewards while they are locked? Meaning are they receiving rewards now? I have been told they at least receive revdis

[craggy field]

they don't get yield farming rewards, they do get revdis

[pale stump]

Why dollar shows 0 on staking dashboard?

I have a plenty of ILV tokens right there.

maybe any bugs there...

[grave lynx]

trying to put 8 ILV into SushiSwap LP to get SLP but it wont let me put 8 as an option. Instead it only appears for miniscule numbers like .5 etc... any info on this issue?

[coral pike]

do you enough eth? for example 8 Ilv is about $8500 so you would need to have the equivalent amount of ETH ($8500) + Gas to make a slp token

[grave lynx]

you wouldn't need $8,500 extra to make a token correct? just enough to push gas through, like 1 extra eth?

[coral pike]

i t needs to be a 50/50 value between ILV and ETH + extra for gas

[ionic heron]

hi all , is there an option to add staked tokens into my metamask wallet? so that I can track the staked asset from metamask ?

[grave lynx]

did not know that. So it would cost an extra $8,500 or would that extra money just be there for good measure so the TX can go through?

[devout seal]

Hey want to ask if you have rewards that you can't claim if you have a compromised wallet will they unlock at a certain time or you have to claim then that locks then up for 365 days? I went tht full 365 days route with everything and have rewards sitting but I can't claim them but I'm hoping if I can arrange a flashbots rescue then I'll be able to get everything. Any help appreciated 👍

[coral pike]

I don't understand your question let me put it this way if your total budget was $500 you would need $250 ILV and $250 Eth + Gas

[cunning perch]

This can also help you. #🥩〕staking message

@coral pike until V2 is out you can also refer to that link 👆

[coral pike]

TY how many times have i thanked you now lol

[grave lynx]

thanks for the help

@coral pike ty ser

[ionic heron]

Hi all, does anyone know if i can add Sushi LP address into my metamask so that I can track the SLP that I had staked ?

[scenic crescent]

Import Tokens: Custom Token Tab and here is the contract: 0x6a091a3406E0073C3CD6340122143009aDac0EDa

You can also get them if you type !contract in the bot-commands channel

[cunning perch]

!contract

[woven ibex]

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

[ionic heron]

Thanks. But i suppose to check how much I had staked. I cant track from my metamask. I would need to logon to illuvium staking website to check each time ?

[cunning perch]

yeah you will have to connect. Also I guess Zapper.fi can help, but I'm not sure. Haven't used it myself, but if you wanna see your IL, you can use apy.vision

and remember, anyone DMs you for help = SCAM

[ionic heron]

ok thanks Arash

[royal ledge]

Can anyone tell me what the current APR for staking illuvium is?

[livid light]

@elder dawn @past falcon I used his disclaimer and it has been fixed and updated to the original one that I had I apologize, for that. The link to the google docs is in the section below the video and I have been searching for any comments from you guys and I cannot find any. I DO NOT delete any of them and will not. It it contains a link it will get flagged from YouTube. I again apologize and will fix anything that I need to.

[scenic crescent]

ILV is 39,34% APY und Shushi LP is 417,76% if u meant APY

[royal ledge]

Yeah. I meant apy. Thanks mate

[hot lynx]

Can you DM me 🤣

[cunning perch]

Nope. I even ask my mom to DM me first. 😄

[hot lynx]

🤣 was just over in the #💰〕token channel ... I got that 1200 feeling 🚀👀

[cunning perch]

Do it.

[hot lynx]

It's one of the many bonuses of staking ...when the token moves you feel it 👍🏻

[golden trail]

Hi guys what does RevDis mean?

[cunning perch]

!revdis

[woven ibex]

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

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

[silent cedar]

Revenue distribution: anything from games or merch sales etc

[golden trail]

Thanks !

I've only staked 0.5 ILV... the previous comments make me worried that it might not be worth it 😫 hopefully it will be in a years time or longer... hopefully

[cunning perch]

In ETH not sILV. Merch might go with sILV too

[silent cedar]

Yep, good clarification.

Correct my thinking here: sILV will no longer be generated when the last person claims their last rewards from yield farming, assuming they choose sILV instead of ILV

[cunning perch]

This might change. It's been mentioned to be able to get RevDis also in form of sILV. If that happens, the longevity if sILV will be endless somehow

[silent cedar]

Yah, just making sure I'm understanding properly for now. Sounds good

[sacred cosmos]

I just refresh and it fixed itself

[wind walrus]

A consistent burn mechanism. I'm ok with that

[cunning perch]

Yep. Burn it all and keep on burning till nothing is left 😄

[wind walrus]

Until only our tokens are left and we get all the Revdis 😎

[cunning perch]

yep. The more ppl exit the pools the better for the ones staying in 😄

[cunning perch]

Interesting

[steady trellis]

Temporary only I think but yep good for stakers

[past falcon]

I didn't know that you get flagged from YT if you put a link in the comment.

[cunning perch]

yeah for sure. Next July when tokens unlock, there will be a war: To have RevDis or to go for YF. Anyway, if ppl choose RevDis, SLP will get emptied. If ppl choose SLP, RevDis would go through the roof. I guess I'm OK with either scenario

[steady trellis]

It’s win-win …

[delicate cloak]

That's really interesting. I was actually wondering to myself if some earlier people who aren't locked would exit the pool, take profits in the coming weeks/months while we are still on this bull run. Then, expecting a bear market, they would re-enter then and have a much bigger bag... I could be over analysing it but I wouldn't be surprised. Time will tell of course. Regardless, I'm happy. Give me all those rewards 😁

[steady trellis]

Let’s just see the amount of revdis we get @cunning perch this will maters for gaz and such ….

[delicate cloak]

I think SLP would still garner a lot of interest because your rewards will be vesting in the core pool for RevDis. At least that's been my logic. I think it'll be win/win anyways lol

[cunning perch]

A win-win for sure. RevDis is something that needs to grow over time. If by July it is massively impressive, then ppl would dump SLP and buy ILV and stake long term. This would pump the price high, and will only mean exposure is through the roof. Many would still use their RevDis to either stake for SLP or ILV pool to get exposed to either pool and RevDis at the same time. I don't see a loss in either strategy. unless RevDis sux 😄

[cunning perch]

For many it's way more than they can get through banks or work. I can see much of the ILV never leaving the pools.

[delicate cloak]

I know only half the SLP gets RevDis but if you're still getting a lot of ILV rewards for the core pool vs just staking core pool. But I'm also just guessing without running any numbers 😅 I'll let Lelahel make another awesome calculator 😂

[steady trellis]

It’s difficult to perceived how much revdis we may receive. Only axie as point of comparison…. And if we reach this level I think it will already be a good time …

@delicate cloak yeah wrongly read your message so deleted mine hehe but yes you’re right, again it’s the power of a good tokenomics

[delicate cloak]

100%. Just seeing Kieran's mock up he did ages ago. Even at 500k daily players which is about 30% of Axie right now, we would still be doing great.

No worries lol. Like I said, I'm just being speculative. You crunch the numbers and you do a good job of it. That calculator is AMAZING. I love looking at it and fantasizing about the Bull/Axie scenarios 😁

[steady trellis]

I already have made a calculator for move silv to SLP. I don’t see much except land calculator incoming once we know quantity and starting prices. But I suppose when revdis will start to flow it’ll become the most important choice we will have … let’s pump up my gdoc 😂

[steady trellis]

Ahah thanks thanks, happy it help some people 👍🏻

[grave lynx]

Ok Ok. My stake is locked up for a year...can I wait to claim rewards for that long or do I have to claim them more regularly + is the reward sILV or just ILV?

[silent cedar]

You can claim whenever, you choose ILV or sILV

[grave lynx]

Im staking SLP btw

[final steppe]

You can claim as either ILV or sILV-- and claims can be done whenever you'd like!

Claiming as ILV will automatically vest (restake) that ILV in the ILV core pool and lock it for 12 months, so you'll be compounding your rewards. Just make sure you keep gas fees in mind so they don't eat up your profits.

Claiming as sILV will immediately withdraw to your wallet.

[grave lynx]

interesting, any time period u find most beneficial for claiming?

my friend told me that most people opt for when the gas fee=1% of their pending rewards

[silent cedar]

Cheap gas, also check out pinned calculator

[final steppe]

Yeah, exactly. If you can manage it, then yeah waiting for 1% or less is pretty stellar!
Not everyone will have the same rules or risk tolerance... depends on how much they have staked 🙂

[bright heart]

Guys am I misunderstanding that revdis will be split 50/50 on both staking pools and from there on per ILV in the relevant pool?

[golden trail]

Do you guys top up your stakes ? If you do... how do you do it ? Buy ETH and convert, or buy ILV directly?

[bright heart]

Depends on what you have. If you have crypto swapping at Sushi should be good cuz it will also give you some of the fees back(if you're staked in the SLP pool).

But if you want to put fiat in. Buying at centralized exchange ILV directly will save you the swap fee + gas.

[proven matrix]

Hello to all. First time chatting here 🙂 I have staked a small amount through the website and my wallet. The ETH has not arrived more than 1.5 hour, I suppose is still processed in the network? Ethscan mentions a completed transfer but don't see something of illuvium staking page. Probably some patience any help is welcome.

[bright heart]

Can you share your transaction? That will help us understand what happened.

[proven matrix]

https://etherscan.io/tx/0xa59f16c6e0a34a11b97a5cb15bd5a8b483d710865439325e60322b04c74e3460 thank you

[final steppe]

Hi Chaotic-- this does not look like a staking transaction.
Also not quite sure what you mean the ETH has not arrived yet as the Illuvium team would not be sending you ETH nor would they ask you to send them ETH.

Can you please DM me the website you used? And please know that no mod or member of the team will DM you first!!

@proven matrix ⬆️

[thorny lantern]

Are you saying that they could end the SLP staking? What does "SLP will get emptied" mean?

[cunning perch]

I meant one plan might be ppl selling their SLP and turming it to ILV and stake it so they get more RevDis since SLP gets less RevDis

[thorny lantern]

Jesus I hope you didn't stake in response to a DM or popup message telling you staking is now available on Illuvium! That wouldve been a scam, sorry to say.

[thorny lantern]

Is that what they are referring to when they say weight?

[cyan rampart]

Weight is different.

What Arash is talking about is the fact that SLP tokens are only 50% ILV by value. You get revdis with an SLP stake, but you only get it on the ILV portion of that stake. If Revdis is much larger than the rewards from staking the SLP, people will be incentivized to stake the ILV only pool to get more revdis and less yield farm rewards.

Weight is determined within a pool. If I stake 1 token at 2x weight (i.e. locked for 52 weeks), I get the same rewards as someone who stakes 2 tokens in a flexible stake.

[thorny lantern]

I like earning yield on my ETH

[cyan rampart]

So do I 🙂 I'm actually more concerned about people dogpiling into the SLP once the token unlock starts. I personally think that's more likely.

[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.

[supple meadow]

but the weight of your stake does effect RevDis right?

[cyan rampart]

Yes, weight will affect revdis.

[thorny lantern]

If you had $20k to invest within the next month, what would you do in regards to staking vs incomming land sale?

[cyan rampart]

I'm a bad person to ask, because I'm all about accumulating more ILV as a long play. If it were my money, I'd stake it all in the SLP for a 52 week lock. I don't recommend that unless you've done your own research and are comfortable with the risks of a 52 week locked SLP stake. Always DYOR 🙂

[thorny lantern]

Thats how I'm feeling tbh. I've played with the staking calculator a lot and I don't see how $20k doesn't easily turn into $150-600k in 3 years of staking

[cyan rampart]

If you like NFT land, it's kind of on fire right now, and buying some will probably end up working out. I just like the certainty of how staking works more, and I think ILV will appreciate insanely well over the next 5-10 years. I'll be squeezing every single ILV I can out of staking. All NFA ofc.

[thorny lantern]

I think ILV is already priced for success really. 10 million total supply with a 10 billion total market cap is $1k/ILV. It only goes higher if the total market cap goes over 10 bil, which is obviously possible, just saying its not like a 10x. 400% APY yielding is basically free money though :).

[cyan rampart]

Yeah, and then you factor in most of the tokens are staked for revdis, and revdis pumps the price of the token through buy pressure, and our supply won't be 10M because of sILV claims. If we end up introducing another way to obtain sILV (i.e. revdis/in-game rewards claimable as sILV), things get really wild.

Everything that's been shared re: game design indicates there will be a healthy competitive scene as well, which is crucial for long term success. OFC this is just my opinion 🙂

[thorny lantern]

Can you explain "supply won't be 10M because of sILV claims"? Does that somehow burn ILV or something?

[verbal heron]

Yea each sILV claimed removes 1 ILV from circulation

[thorny lantern]

I didn't know that... but when sILV is spent does it convert back to ILV? Otherwise, the supply of ILV would perpetually decrease and become unusable.

[cyan rampart]

I'll explain it the way I understand it, which I'm fairly sure is correct. If you look here: https://etherscan.io/token/0x767fe9edc9e0df98e07454847909b5e959d7ca0e

This is ILV. There's currently 7M ILV that exists, with most of it held by the Treasury.

There's 3M staking rewards that are minted as needed. Rewards claimed as ILV go through vesting, and when they finish vesting, they are minted (or when they are withdrawn, they are minted - it's nuance but I'm unsure which is true). Some of those 3M rewards will be (and have been) claimed as sILV. Every sILV claimed means that 1 less ILV is minted. A sILV claim decrements the Rewards pool by however much sILV you claim.

So assuming no changes to how we can obtain sILV, the maximum total supply of ILV will be 7M + 3M - (All sILV claims)

[final steppe]

Pending future proposal(s), the 1 million ILV set aside for in-game yield could also potentially see the option of claiming as ILV or sILV 😮

[cyan rampart]

sILV is burned when spent, to answer your other question.

[thorny lantern]

Did anyone figure out how it will work with taxes in regards to the staking? Will I just have to pay capital gains once I've finally sold it all? Will I have to keep tracking of each time I claim rewards and restake? etc...

[cyan rampart]

Depends on country of origin, and we try and avoid tax talk in here. It varies a LOT depending on your country of origin, and can even vary by state/province etc. Ultimately, you'll have to DYOR on how taxes work in your locale, or find an accountant who does crypto. I will say, tracking your transactions is never a bad idea.

[cursive nimbus]

I’m a greenpea noob; can someone plainly explain what “revdis” is

[cyan rampart]

!revdis In basic terms, all the revenue from Illuvium's games and products is distributed between staked ILV tokens, in the form of unlocked ILV.

[woven ibex]

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

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

[zealous lagoon]

Purchasing ILV does what exactly?

[cyan rampart]

!ilv ILV has 3 main functions - Yield Farm and Revdis are dependent on staking your ILV tokens. Voting can be done whether you've staked or not.

[woven ibex]

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

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

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

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

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

[thorny lantern]

About how long is it between each staking reward distribution?

[cunning perch]

reward distribution happens each block (15 secs) to claim it you can either use the calculators pinned or claim when you feel ok with your piled up rewards

[keen timber]

Anyone know if youre able to stake to the core ILV pool on Arbitrum? I know Arbitrum works with Sushiswap staking but not sure if it works with ILV staking

[cunning perch]

Nope. ILV staking is only done on ETH mainnet. V3 might change it to L2, but not now.

[keen timber]

Ah damn. Okay, that makes sense. Thank you @cunning perch!

[cunning perch]

anytime 🙂

[agile fiber]

Where’s the link to swapping ETH for ILV on sushiswap?

[worn steeple]

on the website

i wouldnt use anything that isnt from the website itself

[agile fiber]

Yeah I found it in Illuvium site under buy ILV

[past falcon]

@livid light @elder dawn @steady trellis After a lot of sweat and tears, I (presumably) have a pretty good idea of ​​the effects of claiming ILV and sILV (sILV then goes into the SLP).
The problem is that it depends on quite a few different variables that we actually cannot currently know. Therefore, I had to use assumptions and simplifications for the calculations, which of course increases the uncertainty in the result.
I also used the calculators from @steady trellis and @elder dawn as a basis, which are not congruent in all points.
The bottom line of the whole story is: It is probably not worth claiming sILV and then staking in the SLP.
Reasons:

1. Very complex transaction and heavily dependent on gas fees and sILV market price
2. Hardly any performance improvement compared to the normal claiming of ILV
3. RevDis strongly influence the result to the disadvantage of sILV-claiming
4. Only suitable for investors who are really long-term oriented, as the advantages (provided they also exist in reality and not only in the calculations) only become noticeable after a while

[dusk berry]

@cunning perch I have a dm that appears to be from you, but on closer inspection, pretty sure it ain’t you.

[cunning perch]

Hey. Please send his full ID to #🚨❗〕report-scammers and well ban him. Thx for being vigilant

[elder dawn]

Thanks cda! Likely it does make sense for a select few whales at the moment, but super risky even then for the reasons you outline. For smaller investors, the gas fees are the major killer even when you neglect my interest in paying taxes/ not going to jail for tax evasion.

[past falcon]

thanks 😊
Yes, I didn't include taxes because not everyone here in the Discord pays taxes on capital gains (we don't, for example).

[jaunty mason]

hi guys, i have a question about getting your coins bac after your staking period is complete. i have completed by 6 month stake, do i just click withdraw and it will automatically withdraw?

[worn steeple]

where do you live?

[past falcon]

Switzerland

[elder dawn]

Yep, I hear you. I highlight it because for people taxes are relevant to, it's easy to forget and there's huge impact and consequences. Im in the USA

[worn steeple]

my uber driver told me to move there two days agp

[past falcon]

Yes, as you can see from the graphic above, taxes would destroy any advantage of sILV-claiming

[night arch]

Will ILV be a usable currency for purchasing in game assets? or is eth going to be the only usable currency in game? also is ILV going to be usable for the land sale? because I heard sILV is so I figure it will but just seeing if anything is confirmed yet

[next ruin]

For purchasing from the Illuvium DAO, you can use Eth or sILV. ILV is for governance / RevDis, it will not have utility for making purchases.

[night arch]

Thanks for the information I knew it was used for governance and revdis I was just unsure if it was used for anything in game, also thats odd sILV is useable for land sale but ILV is not but good to know

[next ruin]

sILV's only designed purpose is to give stakers the option to "live off of" their staked ILV. It's an optional staking reward that is minted instead of the ILV, and the only utility is a "gift card" for the games.

[plucky pond]

Hello, uhm, is the site stakingilluvium a scam?

[craggy field]

the official site is Illuvium.io you can move from there to the staking tab. Don't go to any sites that anyone DM'd you. The official Staking site would be staking.illuvium . io
Note the extra .

[plucky pond]

Oh damn, pretty sure I just fell for a scam. Ouch, thanks anyway @craggy field 😞

[craggy field]

aww man 😦

[still cloud]

Hi, I just locked SLP for 1 year. Just to make sure, the APY showing is guaranteed and locked for me for the duration?

[cyan rampart]

The APY varies with the number of people staked in the pool, and the price of ILV.

The total rewards distributed also decreases by 3% every 2 weeks.

[still cloud]

So I should not expect 412% ROI at the end of 1 year?

[cyan rampart]

It'll likely be lower than that, but short of being able to see the future I can't say for sure. Historically, the APY has decreased over time.

I'm expecting something like an average 150-250% return over the next year, and I just locked an SLP stake a few days ago.

It depends on unknowable unknowns (how many people stake the pool in the next year being the main one, but also the token price in the next year).

[abstract hearth]

Does anyone know of the top of their head how much ilv you get per month or day for staking 1 slp vs 4 ilv?

[cyan rampart]

It's a big difference - My ILV Core Pool stake is close to the same size as my SLP stake (slightly smaller), and in about the same amount of time, my ILV stake generated .007 rewards, my SLP stake generated .1.

You can work out the daily return based off the APY and your stake size.

SLP should be returning about 1.15% a day (440%/365), so if you're talking 1 SLP, that's $4350 at current prices, or about $50.05 per day per SLP staked.

[abstract hearth]

Ahh, ty, bigger risk bigger reward it seems. I only wish i knew about this project sooner 😦

[livid light]

there is a calc from Deraji in the pins that shows daily rewards

https://docs.google.com/spreadsheets/d/1Pm6b54YRTjdv6cDmWwudyejk2aA8XSEB5CgzKWe1N20/edit?usp=drivesdk

[ashen kayak]

Does anyone have a simple resource exploring the strategies of claiming staking rewards as ILV or sILV. I plan to buy land, but I think I can just buy that with Eth, so I don't see a good reason to get sILV at this point since the game is still a bit away.

[livid light]

the big thing is you can buy sILV for about $350 today instead of just claiming it at the face value of over $1000

since the price of sILV is going to = ILV during the land sale you can get land for a significant discount

Check out my YouTube channel, I made a video about land sale and ILV vs sILV 🙂

There are a lot of different ways to play the claim game depending on where you think Illuvium is going

[proud ivy]

There is so simple resource exploring strategies as everyone thinks differently. You’ll have to understand the project intimately or seek multiple people’s opinions to draw a conclusion of your own.

[ashen kayak]

What? It will be equal during the land sale? Will it be equal to eth? Like in the land sale if something is 2 Eth (roughly 8 ILV), will it also be 8 sILV?

[ashen kayak]

I can't find the land sale video on your channel, I assume you're Furry Hippo Gaming on youtube

[unreal storm]

I have a question. I had Floki in my Illiuvim Wallet and now it's gone. Do you guys take whatever money is in that Metamask wallet? I didn't realize that would happen. I just want to make sure it was you guys and I am not hacked. Is that the case?

Anyone in here? lol

[livid light]

I am not sure what that is and I do not think they take anything from the wallet that I am aware of

[unreal storm]

Oh I thought if I put money in that Wallet and it's connected to the site it would go into Staking.

[livid light]

it only takes ILV or ILV/ETH pairs for the staking

[unreal storm]

Ooooooo thank you so much!

[livid light]

within the Illuvium website 🙂

[unreal storm]

If I delete that MetaMask wallet. Can I reconnect a new wallet and still get my stake? I am scared to loose my ILV investment.

[livid light]

not that I am aware of I think the stake is connected to the specific wallet

[unreal storm]

Ok thank you for your help. I'll figure it out. Thanks so much!!

[livid light]

Your welcome have a good night

[livid portal]

No no, the sILV and ILV will be the same...not the ETH

[livid light]

@ashen kayak https://www.youtube.com/channel/UCjphJum4tlhWEsyOU_S3bzQ I have a few staking videos in there

[ashen kayak]

But I assume the ILV and ETH price for land with have the same dollar value, or will that also be different?

[fringe condor]

exactly

[ashen kayak]

But that's crazy, is everyone staking sILV? I better get to it

[fringe condor]

i bought sILV yesterday

[silent cedar]

Can't stake sILV, you can stake ILV or sushi LP token. Rewards are claimed as ILV or sILV

[ashen kayak]

Sorry, not staking. I meant stacking!

[fringe condor]

yes

[livid light]

that is the reason there is $85 million value in sILV

[ashen kayak]

Thanks for the help. And Hippo I recognize you, I guess I stumbled on your videos before

[livid light]

🙂 Getting there waiting ILVZ and the main game to cover them both

[fringe condor]

https://www.dextools.io/app/ether/pair-explorer/0xa7f72a1ec0ab189998a3eec8b886e6360aff39da

here it says 25m

[livid light]

that is from the Illuvium website above

[fervent summit]

hey guys noob here and a quick question,
It shows that the APR is like 400% for staking sushi LP.
One SLP equal to 1 ether and around 4 ILV, which around $8k.
So I can get like worth $32k sILV in a year?
is the math correct？

[livid light]

One SLP token currently yields 0.057 rewards per day... but it lowers the APY 3% every two weeks

I would best guesstment about a month at a time 🙂

Also depending on how popular the game is you could yield more from ILV with revdis but also a guess

[fervent summit]

0.057 you mean I can get 0.057 sILV per day if I staking one year?

Sry for the image

[livid light]

At current rates yes... take a look at Deraji's calc plug in your own numbers https://docs.google.com/spreadsheets/d/1Pm6b54YRTjdv6cDmWwudyejk2aA8XSEB5CgzKWe1N20/edit?usp=drivesdk

That is the calculator I have used in my video and its solid for rewards updates daily

[cyan rampart]

1 SLP is something like $4350 right now. https://app.zerion.io/invest/asset/SLP-0x6a091a3406e0073c3cd6340122143009adac0eda

[fervent summit]

Yeah, but why is it not 8k🤔

[livid light]

50% ETH 50% ILV split

[cyan rampart]

Why would it be 8k? It's kind of arbitrary for your example anyway, if you invested $8k at 400% APY, and that APY remained all year, you'd end up with your original 8k stake + $32k in rewards. The APY is not static, however, it can be somewhat reliably expected to decrease over time.

[fervent summit]

Because slp = 1 ether + 4 ILv

[livid light]

SLP = .5 ETH and 2 ILV

[cyan rampart]

No, right now SLP = 2.07 ILV and .522 ETH.

You can see that in the link I shared.

[fervent summit]

ah, damn my bad

[cyan rampart]

The composition of an SLP token changes as the prices of ETH and ILV change.

This leads to Impermanent Loss, which you should be aware of if you're planning to stake the SLP.

[fervent summit]

yeah I got the risk, thanks guys for clarifying

[livid portal]

As far as I understand the price will be in a stable currency (like USD) and you would pay with either ETH or sILV (with sILV being 1:1 to ILV)

[fringe condor]

tiers

[steady trellis]

@past falcon I’ve a simulation for silv to SLP. More or less if you look at overall roi, at current price, with the gaz and 30% tax, it’s 7 months to break even. If you only count the ilv you get from staking, it’s 11 months. So when you factor in the revdis we may get, it’s pushing back even more the rentability. And it was for a 100 silv simulation.

And assuming your tax are paid with something else that the silv money.

[livid light]

@steady trellis so taking rewards in sILV then selling them to restaking in the SLP pool yields more return?

[gloomy gazelle]

I’d imagine 100silv would make for some serious slippage at this point too.

[steady trellis]

Well if 7 months all in or 11 months in ILV ... and assuming revdis do not have a big impact from march ... it does not sounds really safe bet to do. Not to me.

[steady trellis]

I think lower amount of silv wouldn't have a big impact, except if you deal with 10 or 20 silv then gaz have bigger impact on ROI. Slippage i'm not sure 🧐

[livid light]

So just claim rewards in ILV and stack them up for the next year?

[gloomy gazelle]

Yeah gas is a significant problem for the sILV to SLP… that and the sILV selling at a discount.

[livid light]

I claimed in sILV and the total gas from claim to SLP pool was around $300 on Sunday

on 12.8 sILV tokens

GWEI is over 300 yikes

[steel patio]

Shouldn't be more than couple of %

[queen grove]

How long will it take SLP to deplete it's 3 million reserve?

[livid light]

I think the rewards were over 3 years

[queen grove]

I remember reading that. Starting when?

[next ruin]

The YF tokens? YF will continue until mid 2024. The total tokens distributed drop about 3% every two weeks.

[queen grove]

Not familiar with that acronym: YF?

[next ruin]

Yield farming. The staking rewards. Staking started in July, so the staking rewards will last until July 2024.

[livid light]

yield farm I think 🙂

[queen grove]

Nice. Thank you gentlemen

[gloomy gazelle]

Yeah. The liquidity is deeper than I thought it was.

[livid light]

I am still trying to wrap my head around the SLP vs ILV pools lol

the math seems way different due to the % am running the 100 ILV token in reward scenario

100 ILV tokens in rewards gives me 0.096 ILV tokens per day in rewards = 2.88 ILV tokens in a 30 day timeframe if rate does not change

100 sILV tokens sold to ETH is $33,812 - gas fees for transactions call it $32k putting that into the SLP pool at $4500 gives me 7.11 SLP tokens

which results in 0.404 tokens per day or 12.12 tokens per month... anything I am missing?

[steady trellis]

tax

[livid light]

it will be paid on both no?

claiming the rewards and selling the tokens

[steady trellis]

i've no idea, i do not pay crypto tax

[gloomy gazelle]

It depends on the place im sure

[steady trellis]

but it's exactly the calcualtion i was making earlier, 7 month roi SLP+ILV, 11 month roi if you only look ILV. if pool do not change, and without putting revdis in the equation (land sales + illuvatar + game + other) and taking a 30% tax you pay with your own cash (= not using part of the cash made when selling silv)

[livid light]

how often do you claim or does that take in account not claiming?

[steady trellis]

no taking claiming into account, it wouldn't have a huge impact anyway edit : actually scratch that, it can depending of the amonut of SLP you buy of course

[livid light]

I wonder if claiming would bring that ROI down to 6 months by taking and reinvesting it

Claim and reinvest into SLP every 10-12 tokens

[steady trellis]

if you talk about 100 silv then yeah maybe

[livid light]

Thank you for all your help! Trying to figure this out lol

[steady trellis]

claiming every 10-12 and looking ? That is difficult because the gaz may impact you a lot

[livid light]

I have been claiming every 10 ILV rewards which is about every 9 days working it back into the SLP pool

might have to wait till I get more tokens

[steady trellis]

Well after if you want to check for 7.11 SLP what would be the benefice you can use my sheet, make a new one wil only 7.11 SPL in it and look the calcualtions, the rolling ROI sheet will tell you more about how is the claiing impacting the ROI

I wouldn't do it, not as those price level for silv

but again after depends what you are looking at, risk tolerance, tax, do you value more capital roi or do you think revdis matters more, etc

[livid light]

I love the revdis idea but I can see that playing out in 2023 once its up and running

[steady trellis]

It's very diffuicult to calculate anyway

I think between the land sale and the illuvatar, it'll push back the sILV ROI by a fair bit of time .... And the game itself in march .... may be much higer than people think. Again, it's impossible to know. Game may be delayed, game may be 2x the success of a axie after a month. who knows.

[livid light]

I know the ROI from your excel sheet is about 1% either way on claiming 8-10-12

Thank you for your help tonight! It means a ton! Off to get some sleep

[steady trellis]

It's ok, having my coffee, looking at ILV discord, ahah

[livid light]

I do the 10 tokens to invest next 10 I take profits on till I get the initial $$ out 🙂 recycle till it hits 100% reinvest with the bag

[mighty shoal]

Hi there, I have ILV i am trying to stake and I have connected my meta mask to the site but when i click the core pools and hit stake, It shows that I have 0 balance

[jovial root]

Do you have enough ETH in your wallet to pay GAS fees?

You may have to pay gas to approve Illuvium.io to approve ILV and then GAS again to approve the staking

[mighty shoal]

Yeah I have plenty of eth. It just seems like the site is not detecting the illuvium in my meta mask, It lets me set the time frame to lock it, but then underneath that to enter the amount it says balance: 0

[north geode]

I just withdrawed my rewards from the rewards section and it automaticly staked for 365 days? How is that even possible I wanted to withdraw them to my wallet

[unreal urchin]

Yes, if you claimed in ILV it will be vested for a year. Only sILV can be directly claimed to your wallet

[north geode]

Okay the currency for the in game items, lands and nft is sILV right? So if I withdraw as sILV I cant use them when the game is out

[thorny lantern]

Why is 1 SLP 4350 and not about $2200?

[north geode]

Also can I swap ILV to sILV?

[jovial root]

It is the combined price of 2x ILV and 0.5x ETH

[unreal urchin]

Yes. You can only use sILV after you claim it

[jovial root]

If you claim the rewards as sILV you can withdraw them immediately.
You can then sell on secondary markets for ETH (such as on uniswap)

[unreal urchin]

No you can't officially

[north geode]

Interesting. I will do some more research. Thank you for help guys

[jovial root]

Just make sure you DO NOT believe any Direct Messages you receive. They are SCAMS!

[cyan rampart]

It's arbitrary what a single SLP is defined as. The token price for a single SLP token varies with the prices of the assets it's comprised of. A single SLP token used to be as low as $500 when ETH and ILV were both much cheaper than they are now. The increased price of a single SLP token reflects the increased prices of the assets it's made up of.

The important thing to think about is that your SLP tokens represent ownership of a slice of the liquidity pool. You recieve rewards based on how much of the pool you own.

[jovial root]

When claiming my Staking rewards, it auto claims from Both the SushiPool and the ILVPool.
Which sucks because my rewards in the Sushipool might be 2 ILV, but in the ILV pool it is .01 ILV.
And each pool costs me around $200 to claim.

So can I claim, and Approve the Sushipool claim, but reject the ILVpool claim? (Thus leaving that ILV in there building up)

[gloomy gazelle]

No.

Not until v2

[thorny lantern]

Am I avoiding this problem by only staking SLP?

[jovial root]

Yes and no.
As soon as you claim your first rewards as ILV you will then be in both pools.

But if you claim all your rewards as sILV, or wait for the V2... then you would avoid the problem

[thorny lantern]

oh no I was just about to claim rewards for the second time (now including ILV)... Any ideas when V2 coming out?

[jovial root]

My understanding and I could be wrong... is around Mid- Late December

[gloomy gazelle]

That sounds about right

[thorny lantern]

When I lock in for one year at 418% is it going to stay at 418% for the year or will it be decreasing over the year to who knows what?

[fresh grail]

It will decrease. If I remember correctly that 418% is roughly the average for the year, but it's dynamic and will change (mostly downwards) as more people stake and less rewards are given over the next 1012 days

[empty fractal]

Question on staking Eth/ILV pair. When you provide liquidity to the pool on sushiswap and then stake on the illuvium site, do you also get the rewards from the liquidity pool on top of the staking rewards?

[fresh grail]

When or if you exit the staking through the ILV site you will receive the rewards.

[hollow kelp]

V2 staking 2 yr lockup still a thing?

[past falcon]

Hi Lelahel
Thank you for the calculations.
This roughly confirms my calculations, according to which this method is only suitable if you want to remain invested in the long term and all conditions remain favourable - which we cannot actually assume.

[empty fractal]

Yes understood on that. I’m a bit confused here because the reward that you get from providing liquidity on sushiswap comes in the form of fees generated by the pool. Trying to understand what benefit it has to Illuvium to provide 300-400% APY on the LP. From my understanding it is just to promote the token and reward early adopters?

And once the game is launched will they stop this reward (I.e. returns from staking your LP will only be from in game revenues)?

[atomic lagoon]

This is not considering revDivs correct?

[past falcon]

Yes, it is. $20 per ILV. Starting in Feb 22

[hollow kelp]

You accounting for original Principal/network fees here?

[fresh grail]

The reward is high because you're providing LP, which has risk like IL. Also to distribute the tokens to those that stake and yes early adopters get more. Yield rewards from staking still have 1012 days left to give a total of 3million tokens. So if the game comes out early next year. People that stake gain from yield and revenue from the game and anything else in the Illuvium ecosystem that generates revenue.

[past falcon]

In order not to complicate the whole thing, which is already extremely complex, I have simply calculated with $300 gas fees each for claiming ILV (you might be cheaper here if you claim from the ILV-pool alone) and claiming sILV and reinvesting it in the SLP.

[hollow kelp]

The reason I say this is coz based on your graph (which I assume is off 1 principal) gas fees can alter the sILV->SLP method ALOT if its a high percentage of claimed rewards

[empty fractal]

Ah okay, appreciate the response!

[empty fractal]

Impermanent loss is something that I’m still trying to grapple with. With a such a high yield do you think this would offset any potential adverse moves?

[atomic lagoon]

@past falcon i am thinking to do like alternative, claim 10 ilv and and claim another 10 as silv to restake.. not sure if it is a right way compare to sticking to one.

[past falcon]

If you look at my comments on this method above, you will see that gas fees are one of the reasons I would NOT be doing this right now.
Should V2 come and gas fees play no, or only a very minor, role, the whole thing would have to be recalculated.
But currently too many assumptions are uncertain to recommend it to someone.

[past falcon]

To be honest, I've also considered that.
But I'm still not sure if it's really worth the effort. Probably not.

[atomic lagoon]

I think we might be able to decide better after seeing v2 and revDis.

[elder dawn]

I'm hoping to do deeper analysis on this soon since interest seems to be ramping up. My gut agrees with your assessment, but I'll dig in a bit more and share. This is me signing myself up for something for motivation.

[past falcon]

That would of course be the best if the maestro himself would take care of this rather complex matter

[cunning perch]

There is always a chance you will be exposed to IL since ILV MC is way smaller than ETH, meaning ILV is more likely to out-perform it. You are getting more rewards to compensate for the loss. Still, that is your decision which pool is better for you.

[hollow kelp]

Question: V2 2 yr lockup on staking; is that still a thing?

[cunning perch]

It's most likely the same. Not 2 years. We'll see to be 100% sure

[dusk gorge]

to claim reward, i just need to approve once transaction right? then the system will just claim both concurrently

[cunning perch]

You have to claim either ILV or sILV with each claim. ILV will be locked for 1 year after the claim, sILV will be released to your wallet. Also read this #🥩〕staking message

[dusk gorge]

i click on SLP claim ILV reward. Then metamask pop out for gas fees. So mean after i click approve, there will be another transaction again?

[cunning perch]

claiming SLP rewards incurs a 2-tx procedure: 1 to claim ILV pool rewards and 1 to claim SLP rewards

[small island]

Assume ILV will be 10x short term (in weeks or a few months). And another multiple after that long term

[inner estuary]

Is working out how many ILV tokens you have in your SLP stake as easy as dividing the value by 2 and then divine that by the price of ILV?
For example if I have 2 SLP and it’s worth $10k. Then $5k divided by $1,060 = approx 4.72 ILV tokens

[celest river]

Check out above: #🥩〕staking message. Blickter shared a link to assist in working out the token split in SLP.

[inner estuary]

Thanks mate. Appreciate it

[celest river]

There are some really helpful pinned posts that cover all you need to know for staking. That's my first port of call always!

[light current]

ok, I saw the comment that ETH and ILV + SLV staking all needs gas, can I use the method of adjusting the max gas and let it run until the contact is done ? For example I know Metamask has this option to adjust max Gas and just wait . these transactions are all non time sensitive so we can just let it runs until the transcation is done , can we ?

another question, so Staking is done at Sushi swap not at the dapp of illuvium ?

ok, I found the answer and link to staking at Illuvium web page

[rose sorrel]

Gm 🙂 I have a Sushi LP deposit that is available to withdraw. It had a weight of 1.31. I'd like to restake it with a weight of 2. Is withdrawing and then restaking the only way to do this? Alternatively, if I don't withdraw it, will I continue to earn yield at that weight of 1.31? Appreciate any help here:)

[light current]

looks like I need to start buying my ILV ... I am going to do that and stake it

[cunning perch]

Hey. yeah you will have to withdraw and then restake (also claim rewards). SO you need to pay some serious gas. Make sure you have enough ETH to cover it. Also no one DMs you. If someone did, send his full ID so I can ban him

[cunning perch]

SLP is done through Sushi. ILV only pool is done through ILV wsebsite. follow this:

!staking

[woven ibex]

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

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

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

[cunning perch]

!lp

[woven ibex]

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

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

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

[light current]

yes, once I post here someone already DM ask me whether I need help. I told him thank you very much , I can use sushi swap and close the conversation. It is like Decental Land. When I go there asked about staking .. 4 super helpful either help desk and Admin DM me ... I block and report spam on all of them. I went to the main chat and posted .. thank you all those help desks .. all have been block and reported spam after that no one DM me from here

[cunning perch]

Glad you are vigilant. Any DMs, send it to #🚨❗〕report-scammers and we'll help them there 😄

[fair locust]

Dear arash do we‘ve somewhere a calculator for staking?

I would like to know the ILV which I would receive daily for staking 1 eth / 4 ilv

[cunning perch]

Hey. Sure, you can check pinned messages (and as always be vigilant. no one will DM you. If they did, it's scam and let me know so we can ban them)

[light current]

I already did .. I DM so many scammer .if you pop over to the report scammers .. there is even a DM from Illuvium with exact same logo claiming can give me 10,000% APY ,,, with staking link that I reported here

[cunning perch]

sure. All have been hammered no worries

[hollow vapor]

Guys I’ve got a question. I’ve staked 4 tokens for a year for 46% apr. That’s 1,84 tokens per year and 0,035 tokens per week. Now the apr has gone down in the pools. Does this effect the apr for when I locked or not? Also how does the weight factor x2 gets calculated into account? Reason I’m asking cus the 0,035 tokens per week haven’t budged for 3 days

[fair locust]

Sorry arash but where can I see pinned message 🤦🏻‍♂️ Im new in discord

[cunning perch]

2X means your tokens count double. Also, reward distribution drops 3% every 2 weeks. So nothing is fixed. The more ppl joining the pool also drops it. So you will kepp on receiving fewer and fewer rewards over time

[light current]

I have a question. I want to use Portis wallet to do the swap on Sushiswap but I did not see the ILV tokens in the wallet. I watched the video Metamask you need to import the token address first. The reason I do not want to use Metamask is, My Metamask already connect to all NFT website .. the more I connect, the more I am worried 1 day get hack. .. can i know how to use Portis wallet ?

[cunning perch]

On PC, it's on the top right next to the BELL icon. On phone, you will have to swipe left to see the same icon

[cunning perch]

Any wallet compatible with Wallet Connect works. Some walts have their own logos. You will have to add the token address manually to your wallet to be able to see it:

[woven ibex]

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

[light current]

I know I went to the wallet I cannot find a way to add the token .. I am worried if I go sushiswap and swap, my wallet cannot receive SLP

[hollow vapor]

Token count double as in when I can claim 1 ilv token I get 2? Or my 4 tokens count as 8?

[light current]

or wallet cannot collect ILV

[cunning perch]

It should be able to if Sushi has accepted it. Idk Portis tbh, but there should be an "add token" or "manage token" tab to be able to add tokens

[cunning perch]

yes. 1 ILV for one year counts as 2

[light current]

I scan don't have add token function but when I connect Sushi Swap I saw this wallet is supported that's why I setup that wallet planning to swap

[sage mortar]

Good morning. If you have contributed to the liquidity pool and received SLP, Is there a calculation to know how many ILV your SLP represents?

[cunning perch]

Apparently Portis doesn't have that feature. I searched the net and many were complaining about it

[cunning perch]

hey. you can see it here https://app.zerion.io/invest/asset/SLP-0x6a091a3406e0073c3cd6340122143009adac0eda (no one DMs you. If they did, it's scam)

[light current]

it looks like fortmatic also does not have this option. I also setup fortmartic

can we setup 2 Metamask wallet on 1 chorme ? I really do not like to use my MS that connect to so many NFT site to store coins

[candid kettle]

only if you change the email connected to chrome, there will be different extensions

[sage mortar]

Thank you!

[light current]

oh, thanks I have 2 emails. I can create 2 MS, that solve the problem

[light current]

I just signed out and log in to another email address but the Metamask is still there same one .

[candid kettle]

you have to create a new profile in chrome, with another email

or use firefox with another MM

works the same way

[surreal vortex]

I had some ILV that was staked in the ILV pool. I withdrew those. I went to Sushi and swapped half of those to ETH. I had equal ETH and ILV. I went to the liquidity section of Sushi and converted those coins into SLP. I staked the SLP tokens for 12 weeks. My ILV total decreased the correct amount. My Metamask activity section showed I had added to the SLP liquidity pool. I went to my dashboard and my SLP total does not show the increase in SLP tokens. I rebooted my computer thinking this may solve the issue but it did not. I'm sure I'm doing something wrong but can somebody help me? Thanks in advance for assistance.

[mellow matrix]

Hi guys! Is there any guide on how to stake from an iPhone? I’m having troubles connecting my MM

[cunning perch]

"my ILV total decreased the correct amount" could you please elaborate this?

[cunning perch]

On phone, try Wallet Connect. MM is there. It should work just fine. (also beware of scam DMs)

[light current]

thanks , I setup 2 profile in chrome and Now I can add new Metamask wallet. But I am worried how to toggle between these 2 profile in Chrome ?

[candid kettle]

in the upper right corner, where your photo is, you click and have the option to switch between accounts

[light current]

actually now it opens up to different Chrome and I have both wallet opens separately .. I am afraid I don't know how to get back into 2 different Chrome on my laptop. Usually it will open additional tabs one the same chrome

[surreal vortex]

In my dashboard I had 222 ILV tokens. When I withdrew 50 ILV the total went down to 172 ILV tokens. Then I went to Sushi and converted 25 ILV to ETH. I then had equal value of ILV and ETH. This converted to SLP tokens. I then staked the SLP tokens for 12 weeks. In my dashboard the amount of SLP did not increase...make sense?

[light current]

ok I am going to transfer my ETH to this new Metamask .. I will try not to store any NFT just store coins so less risk

[fast goblet]

wow those gas fees are insane right now. what causes these bumps in gas?

[candid kettle]

you can use MM in a different browser like FF, one for each role

is the easy way

[light current]

I already created 2 Chromes Metamask . I feel safer this way

[candid kettle]

The gas increases when the ETH network is congested, usually peaks in the market or a lot of people doing NFT mining

[cunning perch]

did you have SLP before?

[surreal vortex]

yes i had 44 SLP and it is still showing 44 in my dashboard

[mellow matrix]

I tried, but once I click on MM, nothing happen

[atomic lagoon]

does the staking transaction say it is successful?

[cunning perch]

so no SLP is in your wallet, and you are sure you staked it?

[surreal vortex]

when i look in my MM wallet under assets it just shows i have some ETH but does not show i have any SLP. Am I looking in the wrong place?

[gray tide]

Staked SLP won't show in your metamask wallet

go to the ILV website to check or use something like Zapper/Zerion

[patent wasp]

If you have a staked slp you can’t find it in meta ask but if it’s just a token you can add the contract address

[surreal vortex]

This screenshot shows i withdrew 50 ILV but does not show i staked to the SLP pool. I'm sure I'm doing something wrong

[patent wasp]

Do you have the transaction hash

@cunning perch if he has the tx hash wait can be checked from there

[surreal vortex]

I don't know what is a transaction hash

[patent wasp]

Ok do you have your wallet address

That one can be used to check too

[surreal vortex]

yes i have my wallet address

[patent wasp]

Ok you can copy it and send it here

@surreal vortex

[cunning perch]

MM only shows ETH. doesn't matter how many assets you have. you will have to add the token address to see the token. (sry for the late reply)

[surreal vortex]

+what can i send you to see if i have SLP in my wallet?

[cunning perch]

If you have added SLP address to your wallet, you should be able to see how much SLP you have in it. Have you added it? what number to you see?

[surreal vortex]

have not added SLP address. how do i do that? again...thank you for your assistance

[cunning perch]

go to tokens, click on add token, then paste the address there: (SLP address below)

[woven ibex]

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

[cunning perch]

if you still see SLP sitting there, it means you haven't staked it yet

[surreal vortex]

Sorry for the newbie type questions but I've never run into this. when you say "go to tokens" is this in MM? what address do I paste?

[cunning perch]

yeah, in your MM, in the UI, there is an "add token" button. Press it, add the token address (SLP address) there, and click on add

[stoic ridge]

question, if you locked in SLP and you got a multiple on your staking (ILV/ETH)... and then it becomes unlocked, if u dont move it do u get to keep that staking APY multiple

or does it go back down to the non locked staking multiple? so lets say Jan 1 2022 my stuff unlocks and it was 1.45x staking multiple.. if on Jan 2 2022 i dont move it or anything.. am i earning at 1x multiple or 1.45x?

[cunning perch]

I believe you are asking if your tokens are unlocked, do they still count with the same weight (2X for example)?

[stoic ridge]

yes.. so i locked into stakign on ILV/ETH.. but i didnt use the full year so theyre now unlocked.. if i dont touch them do i still get that multiple i locked in with

[cunning perch]

Until V2 is out, any tokens, locked or unlocked, will keep their weight and generate rewards. When V2 is out, you might have to take other actions. It will be shed light upon with the proposal shortly. For now, just enjoy the rewards.

[stoic ridge]

okay cause mine are unlocking soon.. but i wont move them if i keep getting that same APY (as if they were locked)

[cunning perch]

you'll get the same APY and reward distribution ratio as everyone else. With V2, (since your tokens will def be unlocked by then) I'm quite sure you will have to migrate if you want YF rewards + RevDis

[stoic ridge]

hmm just confused now.. I am simply saying i locked ILV/ETH in and got a 1.5x multiple. Soon they unlock.. if i dont touch them (so they stayed staking) once i have liquidity.. am i getting 1x or 1.5x? thats all i am meaning to ask

[surreal vortex]

when i pull up my MM wallet it has a UI for "import tokens" is this the same as "add token"? when i click the import token i entered 0x6a091a3406e0073c3cd6340122143009adac0eda but it did not show SLP token

[delicate cloak]

They will have the weight you locked them at (1.5x). When V2 comes out, there may be changes and you may have to migrate your stake to continue getting rewards.

[cunning perch]

When they are unlocked (if V2 is not out yet) then yeah they keep the weight and get rewards. When V2 is out, you have to send your tokens there if you want YF rewards and RevDis

[stoic ridge]

ok perfect

[cunning perch]

In your MM UI, so you see SLP?

sth like this

[surreal vortex]

This is all i see

[cunning perch]

Try not to send your assets in public channels. YOu should be able to see your SLP when clicking on "import tokens", copy SLP address, add the token. I'm quite sure you have it there but can't see it

[surreal vortex]

will you send me the SLP address? i'm not sure i'm entering the right address

[delicate cloak]

Just a heads up, your email addy is also on display there so might be worth removing the pic so you don't get spammed.

[delicate cloak]

https://discordapp.com/channels/760344898200666112/859866659011690537/881939138738286682 here's it posted earlier in the chat.

[mental junco]

Whats better to stake in ILV or sushi LP?

[stoic ridge]

@cunning perch i actually have 1 more question.. i have some old XYZ in the flashpool that i havent unstaked cause gas was super high.. it has both the XYZ and the unclaimed ILV I got from staking it.. is it possible to withdraw that (my XYZ and my ILV rewards from that flash contract) without calling my ILV & ILV/ETH contracts?

and if so where can i do that? i see I can claim it on on rewards, but i obviously want to claim & pull it out of that contract, and I am wondering if it also calls the ILV /& ILV/ETH contracts (ideally it doesnt so i dont pay more gas)

[delicate cloak]

That's for you to decide. Read up on both. ILV is almost no risk, SLP has some. Also depends how heavy your bags are, staking isn't worth it if you don't have enough. SLP generally tends to be for those with heavier bags (NFA but I'd say 3-4k+)

[mental junco]

Thank you sir, I just got like 800 dollars I wanted to invest. Just diversifying on a couple of NFT games

I have small bag 😆

[delicate cloak]

Honestly, probably not worth it outside of just holding the token imo

[surreal vortex]

I got it...thanks Arash!

[mental junco]

You mean in terms of gas fees for rewards etc? The gas fees for claiming rewards will eat my investments?

[stoic ridge]

Yes, i am in the staking contracts.. truth be told if u have only 8k (and 8k is a lot of money to be clear) the gas fees will just eat u up

[mental junco]

800 dollars not 8k

[stoic ridge]

yes, then your best bet is to just hold.. but truth be told if u have 800 dollars, something u should be aware of is that u probably shouldnt be using eth mainnet.. fees will take too much of your profits

[delicate cloak]

Yes.

[mental junco]

Okok I guess this was a stupid move. I now have 800 dollars worth of token on my MM

[stoic ridge]

nah it's fine.. welcome to the club, but yes just dont stake it or move it, cause moving it will cost probably $20, and setting up staking would probably cost around $150-200.. so yeah not really worth it

[mental junco]

You know if the NFT sales will be on ETH/WETH? Maybe I can buy NFTs with these tokens?

[delicate cloak]

We all see the token going up long term, I'd still hold. Add to your bag when you can afford to and then stake it later when you have some more.

[light current]

now at staking thinking whether to lock or flexible ... what are the thoughts ?

[light current]

what is XYZ ?

[stoic ridge]

I'm unsure, but good question

[stoic ridge]

just a flash pool illuvium did awhile ago

[light current]

what is a flash pool ? I don't even know ? so I cannot buy flash pool anymore ?

[mental junco]

How much would you say is a good start to stake? Amount of $$$

[delicate cloak]

For you to decide really. Not financial advice, but due to gas I'd say 2 tokens for core. And still try and time it for low gas at the weekend.

[mental junco]

hmmm ok Imma try to collect 2k, and then I assume ILV staking would be prefered for lower budgets?

[light current]

what is 2 tokens for core ?

[delicate cloak]

They asked about what I consider a good amount to stake. I said 2 tokens in the core pool is what I consider worth it when factoring gas.

[light current]

2 tokens is $2k

[delicate cloak]

Yes, SLP has much higher gas due to being a more complex transaction. Bigger bags for sure.

[light current]

oh 2 token meaning 2 SLP ?

oh I only bot 1 thought of slowly add over time .. looks like for staking is a bad strategy ?

another question, if staking is no time pressure ,.. why can;t we choose the low gas and let it run until it hit our limit ?

[mental junco]

Staking is bad right now if you're not prepared to pay all the gas fees. As I've understood, gas fees for transfering to metamask + Gas fees to exchange to ILV token + Gas fee to start staking + Gas fees to claim reward to enable staking . Like 4-5 gas fees

[light current]

when I stake NFt that is what I do, just choose $80/NFT and let it run over night/?

[light current]

if I need to add more SLP for staking I will use another wallet to prevent pay gas for claiming the rewards

[next ruin]

You'll have to pay separate gas for all future claims though from each staking wallet. Avoiding one claim to create several separate ones seems questionable.

[light current]

staking now ... waiting .. just now gas drops to 118 GWEI I confirm now looks like shot up to 154 .. I will be patient

I assmue stake is like staking NFT .. when I staked NFT, I set a low fee let it ran 10 hours to hit and only paid $36/NFT ..in the peak I saw was $130+ per NFT .. just wait for gas to drop into the comfort zone

[spark kiln]

That's it

[cunning perch]

I just set you above. Sending again:

[woven ibex]

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

[cunning perch]

ah sorry. Just saw your message. 😄

[cunning perch]

Hey. No. you aill have to withdraw both. So you press "withdraw XYZ" it will pop up 2 TX. 1 to claim rewards and one to withdraw XYZ. watchout for gas

[light current]

ok staking complete at 120GWEI ... not so good but not too bad. I should have followed by NFT staking just set max at 80 GWEI and wait 10 hours to get it done .. anyway no pressure at all for staking even if it takse 20 hours

[earnest ridge]

how do i send ilv from binance to trust wallet? i cant see ilv in trust wallet

[cunning perch]

you go to your wallet on Binance, find ILV, Click on withdraw, paste your TW ETH address in the address bar, choose ERC-20 as network, and send it. (watch out for DMs that reach out to you to help you. They are all scams.)

[zinc dock]

I wanted to stack like 50 or 100€ of ILV to gain some sILV to play in a few months. Noticed gas fees will be double minimum....

[delicate cloak]

Just buy sILV on Uniswap. It's unofficial but if you use the contact address from here, it makes more sense.

[zinc dock]

Yes, agree.

[brisk surge]

The sILV you can only have this token with staking or you can just buy SILV

[next ruin]

The only "official" way is via staking reward. There is an unofficial pool on UniSwap where you can swap for it.

[brisk surge]

Okey, you think its better staking or just buy

[earnest ridge]

iv got ilv and eth in my trust wallet now, the ilv staking page says before i continue i need to approve my wallet to stake tokens. i click the button, trust wallet opens.. but there isnt anything for me to press. if i switch back to the webpage, its just waiting

[cunning perch]

Follow the steps below and watch the vid pinned in the channel regarding 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

[hearty shore]

locked up for a year staking... am i right in that you cant claim rewards until the end of lock up?

[vital frigate]

If the reward you claimed was ILV then yes.
If you claim sILV then it wont be locked.

[ember ginkgo]

You can claim when ever you want. You’ll have to pay gas and then the reward will be vesting for 1 year

[hearty shore]

thanks both

[vital frigate]

The vesting period is compounding with your staking, so you get yield farm.

[last acorn]

is there a way to check sILV price?

[hearty shore]

ive noticed aswell the ILV token amount changes that can be claimed... had 0.008 now its saying 0.001

[thorny falcon]

Hi, if i want to transfer my ilv from an exchange to a metamask,
should the network be etherum or i can also transfer to binance network?

[last acorn]

should be ETH

[vital frigate]

It must be on ethereum network

[next ruin]

https://www.dextools.io/app/ether/pair-explorer/0xa7f72a1ec0ab189998a3eec8b886e6360aff39da

[still cloud]

Regarding the "3% every 2 weeks" - is that per person starting when funds are first staked, or does that refer total ILV rewards paid out to everyone decreasing over time as a general rewards model?

[next ruin]

The latter. Total distributed tokens decrease over time.

[cedar berry]

Hey guys, if my fixed staking period is over for part of my ILV, is it technically still flexibly staked until I 'withdraw'? Just wondering if it makes sense to pay the gas to withdraw and re-stake it if somehow it is still generating rewards

[atomic lagoon]

the weight will still be the same as the period you locked if you don't withdraw it. so if you don't need to use the ILV elsewhere you can keep the ILV in stake and get the rewards in the same weight as the period you locked.

[cedar berry]

Cheers! that is awesome news

[astral flume]

what is staking V2?

[worthy peak]

better next version of staking smart-contracts and site

[astral flume]

is fee gonna be lower that way?

[worthy peak]

yep

[astral flume]

maybe question is dumb but how?

[worthy peak]

as i understand the main reason of making V2 was to optimize gas

sorry, not a dev, cant tell. but i suppose with some optimisations of algo and code

[astral flume]

but we still gonna need to use ERC20 right?

[worthy peak]

yep

[astral flume]

nice, looking forward to see how this gonna work

[brisk surge]

!ilv

[woven ibex]

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

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

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

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

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

[slow sandal]

Hry why do we have to claim both liquidity pool and stacked ilv together?

[final steppe]

Hey there! Since all claimed rewards are automatically vested in the ILV core pool, any pending rewards in the ILV core pool must be claimed to clear them out beforehand so the rewards you just claimed can be properly calculated. Aaron goes over it a bit in his post here: #🥩〕staking message

[slow sandal]

Ok I undetstand its kind a technical issue right? So we have to pay twice gas now and twice later when the amount will be claimable?

[bitter ledge]

Can someone explain to me how the TVL of the core pools is more than the market cap?

[lyric blaze]

Ouch! I just did that and i didn't like it for such a small ILV balance.

i just wanted to claim my Sushi LP rewards not the ILV pool rewards. My pool rewards don't justify gas fees yet

[brisk surge]

Total Value Locked is the amount in the two contracts for ILV and ILV/ETH pools.

[slow sandal]

Exactly! Sorry to say but it really bad

[bitter ledge]

Exactly so how can that amount be greater than all the tokens value combined?

[cunning perch]

V2 will most probably fix this issue.

[slow sandal]

Will it make possible to claim everything with one gas fee when everything is unlocked?

[cunning perch]

yes. withdrawal in one TX is one of the goals. Though it needs to be 100% confirmed.

[final steppe]

We shall keep hoping 😄
Otherwise we all have a TON of withdrawal transactions to do....

[slow sandal]

Ok lets hope it can be solved. Is there a timeline to know that for sure?

[cunning perch]

yeah But I hope we get the option of "how much you wanna withdraw" too 😄

[next ruin]

It includes the value of the Eth locked in the liquidity pool. It also includes the vesting staking rewards that aren't in circulation yet.

[cunning perch]

proposal should be out shortly. When? no one knows

[slow sandal]

Yeah and something that looks like a dream might become a true nightmare

[final steppe]

Yeah, let's hope for it being in the V2 proposal! Otherwise.. timeframe would be between now and when the first claimed rewards start unlocking, pretty much. So July 2022 😎

[arctic harbor]

I'm trying to claim ILV rewards of about $108 worth at 0.09.
However, the gas fee looks to be about $130. Does this seem right? Do we just need to let the rewards grow big enough to justify a $130 fee?

[next ruin]

With gas around 150? Yeah, seems correct. Need to wait for a bigger pending reward / lower gas for claims to make financial sense.

[cunning perch]

Yes. let the rewards pole up to justify paying the gas. Otherwise you'll be in loss

[final steppe]

Seems about right since the GWEI is around 130 at the moment.
Gas fees are dependent on the amount of traffic on the ETH network. So you'll pay the same gas fee whether it's $108 being claimed or $10,008.

[next ruin]

https://tenor.com/view/matthew-mc-conaughey-all-right-count-counting-fingers-gif-7221052

[arctic harbor]

I mean I guess there is compounding effects after you make a claim, and it goes into the 12 month vesting period. But still doesn't feel right to pay more gas than what you're claiming. I'll wait.

[fair locust]

What happens to the ilv after the claim during the 12 month vesting period? Do I get also while this time my distrubtion from the transactions during the game?

[cunning perch]

It depends on V2. There might be 2 scenarios:

1. you can migrate to V2 while locked. In this case you have to migrate and then when they unlock, they will already receive rewards and RevDis until you withdraw them.

2. You will have to wait until they unlock and then migrate to receive rewards + RevDis until you withdraw them

[next ruin]

During the vesting, the tokens are in the ILV core pool at 2x weight. Eligible for staking rewards and RevDis.

[fair locust]

On ILV core pool with 2x weight but for which % per year?

[fair locust]

V2 is update? Very helpful community thanks a lot by the way

[next ruin]

The ILV only pool.

[cunning perch]

Yep. v2 is staking Version to aming to be more gas-efficient, comes with a probable wallet change and ofc RevDis (and also one-TX withdrawal in the end)

[rugged hornet]

I just bought 1 lv, whats best way to stake it

[verbal heron]

staking.illuvium.io

[cunning perch]

!read these please and you can use the calculators pinned in the channel to help you decide:

[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

[marble urchin]

Any plans for L2 staking?

[final steppe]

Heyo, I told ya in the reply I gave you in #💬〕general before I directed you here haha 😄

The proposal for V2 of our staking protocol is about to come from Aaron soon... this will still be on Layer 1.
The team then aims to have V3 staking on Layer 2... but when that will happen is not yet known.

[arctic harbor]

v1 doesn't have RevDis, of your claimed rewards?

[marble urchin]

Nice! Sounds like I’m stuck on Binance for now. Just hope L2 comes out before the game

[cunning perch]

V1 no. No RevDis at all. V2 will kick start it

[arctic harbor]

so I staked a couple months ago with the idea I would get Revdis? How do we know if we're on v1 or v2? and what's the process to convert to v2?

[cunning perch]

check this out #🥩〕staking message

[final steppe]

We're all on V1 at the moment 😄 but yeah ⬆️

[arctic harbor]

how do we migrate to v2?

[cunning perch]

There will be guidelines in the proposal when it drops.

[arctic harbor]

so is this something that will be in #📣〕announcements soon?

[final steppe]

Yup, stay tuned! We'll get the proposal soon... and then likely even guides to show us the process when the time comes 🙂

[cunning perch]

yeah there or in #809220563397902346

[final steppe]

Or #📰〕governance-news

ONE OF THOSE

[cunning perch]

or that haha

[final steppe]

https://tenor.com/view/shaq-pointing-you-got-it-dude-yes-yes-yes-thats-the-point-gif-15048016

[cunning perch]

@final steppe we all complete each other 😄

[next ruin]

To be clear, everything communicated so far has said that V1 stakes will be read by V2 and you get all of the updated claiming benefits prior to migration. We'll see if that's still the case - but I wouldn't be worried that you are going to "miss out" on anything or get screwed over. Devs know not to do anything that will disadvantage the folks who are already supporting the project.

[arctic harbor]

sounds good. i look forward to the upgrades.

[fair locust]

One more question 😅 I‘m staking right now flexible. If I want to change to locked staking. I first have to withdraw my SLP deposit? Or only claim rewards.

[next ruin]

At this point, to lock you have to withdraw and re-stake as far as I know.

[fair locust]

So two times gas fee 😪

[cunning perch]

yeah. Even after V2 it should remain the same. Donno if V2 will also change that

[cunning perch]

SLP withdrawal now: 1 gas to claim rewards + 1 gas to withdraw + 1 gas to re-stake (provided you don't have any more SLP rewards cuz you might need to pay 1 more gas to reclaim them again) so It's something around 3-4 TX

[fair locust]

😅

[next ruin]

https://tenor.com/view/michael-scott-the-office-steve-carrell-yikes-cringe-gif-6056240

[cunning perch]

gas hurts haha 😄

[fair locust]

I thought flexible is better for beginning but now I‘m convinced and would lock 🤯

[cunning perch]

Now gas is not good. wait at least for 60-70 if you can.

[fair locust]

Yeah..

[tight mulch]

If I already staked slp and want to do more do I have to claim the rewards first on original stake

[cunning perch]

No. Just stake new SLP. It will automatically ask you to claim rewards and then stake it. I think you might need like 3 TX and 3 gas (approval + rewards claim + stake)

[hoary oar]

!contract

[woven ibex]

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

[cunning perch]

There is one in pinned messages. Also try using bot commands in #👑〕bot-commands next time

[hoary oar]

ok thx

[fair locust]

Could be gas now about 270-280 usd per transaction

[cunning perch]

yeah, if not more

[fair locust]

🤯

[modern hinge]

Anyone have an easy way to track impermanent loss here? If you have 4 ILV per 1 ETHE, if ILV goes up you lose a little of that but gain some ethe.

Assuming not that easy?

[next ruin]

I like https://app.apy.vision/

[modern hinge]

Awesome, thx!

[lethal bane]

Why eth so expensive. Just trying to stake some ILV t-t

[livid light]

wow ILV went up $200 today

[light current]

wow ILV up 22% .. I should have bought more yesterday !

[gloomy gazelle]

!scam watch for scams in your DMs

[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.

[rose sorrel]

Thanks for the reply! Alright but if I just leave the tokens as is, they will still earn me ILV with their current weight of 1.31, right?

[jovial root]

From my own personal experience... I have staked in the SLP pool, and it gives good rewards daily.
But for me personally I cannot justify the cost of claiming any less than 10x ILV at a time, simply due to the $300-$400 GAS fees I am paying each time, and the time required to earn that back from the ILV Pool APY

[brisk surge]

Why the sushi LP staking APY go up?

[clear cape]

price going up for token

it just means the value of the ilv u are receiving is worth more now, so apy going up

[clear cloak]

It’s a percentage though? I don’t understand . I assumed flexible staked people exit when they see signals that it’s mooning to reduce impermanent loss

[brisk surge]

is staking 450 percent of initial or current

[jovial root]

I believe the reward APY is also linked to the % of trade fee that the SLP earns whenever someone buys ILV.
The more people buying, the more trade fee, the higher APY

[brisk surge]

is staking 450 percent of initial or current???? I know that but it doesnt answer question

[brisk surge]

450% of your current $ value of SLP

[jovial root]

I am not sure I understand this, because your Initial SLP staking will also be the same as your current, unless you ADD to it by restaking more.

So it will always be based on the amount you currently have staked, plus the weighting factor of how long you staked it for

[strong forge]

Staking is 450%!!!