🥩〕staking

[cunning perch]

Probably. Wait for V2. It might help you better

[vast swift]

Only 1 question remaining Arash, thank you so much so far. If I don't claim, do i still keep making rewards at the 1 year lockin interest rate that i chose (49%) or, it the rewards keep reducing with lowering interest rate unless i Claim and restake the ILV?

[cunning perch]

No worries and no. You have to claim to start compounding. Not a single penny will be allocated to the pending rewards.

[vast swift]

And at what rate do these pemding rewards grow? The current staking reward rate, in real time?

Nowhere was this mentioned while people were staking that we will have to manually claim, restake, claim , restate, i mean this is not fair, this means we gotta pay gas at every step of compounding, if i am understanding it right?

[cunning perch]

You get rewards every 15 secs and they will all be pending until you claim them

[cunning perch]

There is no restaking. Claiming is a manual staking for one year and a 2x weight. Also, all is mentioned in this:

[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

[frank crest]

I'd already signed up, got an email with a promo code in it. Not sure if its custom to me, but try 071C2299 as you check out.

[charred ravine]

How many people claimed rewards immediately? Are there any people who have not claimed rewards yet?

[coral pike]

@charred ravine only if you plan on claiming ILV if you Don't claim ILV your 12 month Vesting never starts and you don't get compounding

[charred ravine]

I get that, just want to see what other people are doing. Its growing hella fast anyways so im clearly getting my moneys worth

[coral pike]

NFA Claiming immediately is up to you but i would consider gas fees first it costs 1x gas to claim form th ILV pool and 2 x Gas to claim form the SLP pool so make sure your getting value you don't want to pay $200 in gas to claim $50 reward

[charred ravine]

Makes sense, that is because it takes 3 tx to begin staking, correct?

[cyan rampart]

Lots of people have no claimed rewards yet. Basically you balance the compounding of your claimed tokens against the gas fees to claim. You eventually want to claim so your ILV rewards start vesting

[charred ravine]

Does it just come down to liquidity? And gas

[coral pike]

if i remeber correctly

[cyan rampart]

Liquidity? Not really - Mostly, like I said, you're balancing gas prices against the potential for your claimed rewards to compound. This is all assuming you're claiming rewards as ILV.

It also takes 12 months for claimed rewards to finish vesting, and you'd like to start that process eventually.

[charred ravine]

Definitely missing something then. Can you explain in a little more detail this part: "you're balancing gas prices against the potential for your claimed rewards to compound". Does this mean that I pay gas when/if I claim on the rewards being vetted over time? Or just once I begin claiming

I'm new to staking so bear with me lol

[coral pike]

see my comment about gas above you don't want to spend $200 gas fee to claim a $50 reward

[cyan rampart]

Every time you claim rewards, you'll pay a gas fee (2 fees if you're claiming the SLP pool).

[charred ravine]

So if I claim my .17 ILV right now, ill pay 3 gas fee transactions when I claim and then it vets from there? Trying to understand how often gas is in play -- just once when I claim or over the entire vetting period

[cyan rampart]

Not 3, no. Are you staked in the SLP pool or the ILV only pool? The ILV only pool is 1 transaction to claim. The SLP pool is 2 transactions (only 1 for the FIRST claim) - It will force you to claim rewards from BOTH pools. Your claimed rewards can be treated like a new 12 month locked stake in the ILV Core Pool.

[charred ravine]

I did the SLP pool

[cyan rampart]

You only pay gas when you perform transactions - There is nothing that will make you continually pay gas. So you'd pay gas to claim rewards, but not over the entire vesting period.

If this is your first SLP claim, you'll pay 1 gas fee to claim (assuming you have no stake in the ILV Core Pool). Every future claim will be 2 gas fees.

[charred ravine]

Got it, as far as staking goes all ive done is Cardano which is effortless compared to something like this. Definitely makes more sense now

Shouldve asked a long time ago but I knew it was worth it anyways, plus the money isnt a huge issue right now lol

@cyan rampart I guess I have one other question - If I were to say deposit another $1000 into SLP, I would have to create a new staking pool right?

[cyan rampart]

Terminology-wise, no. You could put another $1000 in the SLP, and that would be a fresh stake in the SLP pool. You'd have to claim rewards when you started the new stake, but from then on you'd still only have 2 transactions per claim. Both of your SLP stakes would be separate, but the rewards would accumulate together.

[charred ravine]

Ah okay, so theres definitely an incentive to continue staking more over time, as the balance compounds regardless of a separate stake

[cyan rampart]

Definitely - as long as you can handle the gas fees for your transactions

[charred ravine]

ETH is broken as is right now -- averaging roughly 30% in just gas alone. What am I gonna save, maybe 5-10% if I play the gwei tracker game and wait for a low volume time to stake. To me that doesnt matter, its making sure I get in at the appropriate timeframe. I'll make more over time than what I pay in gas, especially with the return SLP has as potential

[gloomy gazelle]

Sure. But you might could get a better return by simply using that ETH from the gas fee for claiming to buy more ILV instead. Unless you are claiming a significant amount of ILV when you claim. I’d recommend looking at the google sheets that are pinned in here. Make a copy and put your numbers in and it will help calculate some stuff for you.

Lol I just claimed/vested some rewards with fees at 0.5% of the value claimed. It feels like I waited to long.

[worthy peak]

is it around 30 ILV?🤓

[gloomy gazelle]

https://tenor.com/view/its-classified-tom-cruise-classified-private-secret-gif-9579704

[delicate cloak]

Look at that gas! Get your staking on now if you need to lol

[craggy field]

Im not home!!!

[sacred cosmos]

Ooh let's play a game. If we get it right we get something lol

[worthy peak]

i've already won that's why he classified, typical

[real lodge]

If gwei is 80, how much would it be to claim reward?

I’m running low on eth 😫 just afraid I don’t have enough and cause failure in translation

[bright salmon]

Is there a guide how to Buy ILV on Binance deposit in Metamask and Stake it on https://staking.illuvium.io/ ?

[atomic lagoon]

https://youtu.be/DktsEdU8bm4

https://youtu.be/C6YugU4zZr4

Recommend to watch both

[thin ravine]

So even tho I staked for 4 months I have to wait 12 months before I withdraw because of rewards?

[atomic lagoon]

You can withdraw the amount you stake after 4 months. Only rewards are locked for 12 months from when you claim if you claim as ILV.

[thin ravine]

Hmm okay well I get stuck on the website after clicking withdraw in the vesting section and follow prompts. I click withdraw after picking ILV and nothing happens.

[atomic lagoon]

Do you have enough gas fee in your wallet? You will need to pay gas when you withdraw. If you are using metamask you can check if the transaction is still processing under activity. I am not sure about other wallets.

[charred ravine]

That is super helpful, thank you very much!

[brisk surge]

Hellow Guys! Can You tell me what is realistic reward for 12 month vesting? I wrongly did it 5 months ago ( i wanted to stake) and Im thinking what to do about it now

[bright salmon]

What is the best way to buy ILV? Sushi or ex: Binance ?

[atomic lagoon]

I would say Binance for me as I don't need to pay gas fee on binance.

[autumn cloak]

Depends on how much you vest🙂

[bright salmon]

Gas fee on binance are payable in BNB or normal $

[atomic lagoon]

there is no gas fee on binance. You can just do spot order for ILV.

[bright salmon]

If I claim reward and reinvest for like 1 year, will the initial investment 3 months /1 year will reset ? or it count as 2 differents period ?

[autumn cloak]

Each claim is a new 1 year countdown. So if you claim 20 times, each a week apart, you will have 20 different vests each with their own 1 year clock

[undone forum]

I’m probably the millionth person to ask but am I the only one that can’t see Amount Staked anymore?

It just shows 0 now

[atomic lagoon]

refresh the page?

[visual crypt]

Do you guys recommend doins the staking in the ILV pool or in the SLP pool? I have like $75 in ETH right now

[cunning perch]

Gas is about $100 now. You can use the calculators pinned in the channel to find the answer to your question (also don't answer DMs. They are scams.

[visual crypt]

so you are saying that with 75 i cant do nothing?

[cunning perch]

if gas is more than $100, then no. You can't do anything with $75 I'm afraid. And it will not be worth it.

[visual crypt]

:/ okay thank you

[worthy peak]

better spend them in game when it is out, you will catch an illuvial or 2

[visual crypt]

so you are saying that i have to hold the ilv? or the eth?

[worthy peak]

eth is used to pay in game. olso silv

ilv is a governance and revdis token, it is not used in game at all

revdis is revenue distribution

[jolly adder]

guys i wanna stake 100$ is it good enough or bad

[delicate cloak]

Pretty pointless with gas fees honestly. You'll lose more than you'll gain. NFA.

[gloomy gazelle]

Lemz is correct. Gas fees can be more than than $100

[jolly adder]

oh then how much is good u think

[gloomy gazelle]

Use some of the pinned documents to figure out your plan.

$500-1000 minimum is my guess. But I could be off.

[delicate cloak]

We don't do financial advice around here. You have to find what works for your situation. Imo, AND ONLY MY OPINION, that's a minimum of 2 tokens for core and at least a 5k investment for SLP. There's pinned posts with calculators and videos which can help you make your assessment.

[jolly adder]

oh okay thankyou guys ^^

[storm cypress]

Sorry if this is a popular question but essentially you do staking just to support the development of the game? And then you get that money later when the game comes out to buy things in game?

[cunning perch]

Hey. To better receive the answers I surveys reading this:

[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

[worldly sundial]

guys how does staking work?

[fresh grail]

https://www.youtube.com/watch?v=SY3uKUugbkI Volkin does a good job explaining it

[wet vigil]

Hey guys I have a question. When you’re staking and you claim your rewards does it cost a gas fee? It doesn’t interrupt your current stake either does it? Might be stupid questions, but I’m a noob at this. Thanks

[cunning perch]

Hey. Yes claiming cost gas and compounds (don't answer DMs they are scam and read this):

[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

[burnt hill]

Do we know if staking v2 is close? I want to lock again my SLP position, but i'm not sure if it's worth right now if i need to swap for a new stacking contract for v2 really soon

[livid light]

They said it was pretty much done... that was the last dev update

Date was supposed to be Nov

[delicate cloak]

Aaron said there'd be a dev update next week I think.

[white egret]

so should i wait for v2 if im planning to stake this/next week?

[sacred cosmos]

Seems I'll be waiting for V2 as well

[white egret]

i would definitely like to know, in layman's terms, what the benefit of waiting for v2 is. i am VERY excited about this project and dont really want to miss out anymore.

[sacred cosmos]

All I know is it will lower the gas fees. But I feel they added more to it than just that hahaha

[white egret]

im not worries about gas as much, i can time that pretty well

[winter kernel]

Have they said if people in v1 will automatically migrate to v2?

[fresh grail]

They haven't yet. The info moving around seems to be whatever is unlocked. Though it won't help us smaller stakers. I'm sure they will have something that works for all.

[wet vigil]

What’s the best way to pay the least gas fees when claiming rewards? Timing?

[wispy sandal]

Why do people expect gas to be so high during the auction? Are they just anticipating that the bull run for all of crypto will be occuring, or is it directly related to Illuvium

[livid light]

It depends on the volume of transactions... depending on timing it could be 500+ at one time spiking the gas price

@wet vigil timing and setting the gwei helps I usually set it at 80 and they go through in a few minutes instead of seconds

[delicate plaza]

How do you set the gwei???

[deep jungle]

Does staking require two transactions on the ETH main net? 1 for buying ILV from sushi and the second to stake it

[brisk surge]

If youre buying from sushi its
1 to buy
2 to approve wallet on the staking site
3 to stake

Check the gas fee calculator in the pins

You can also buy from a CEX like binance or crypto.com and then send it to your ETH wallet. Im not sure whether or not thats cheaper than swapping on sushi

[heady trench]

is anyone else having problems with the claim button? clicking claim on the rewards page doesn't open anythign

[hushed spindle]

when the rewards are vested from the ILV/ETH pool. is it unlocking linearly, or complete unlock after 12 months only?

[carmine drum]

Complete after 12 months.

[twin skiff]

OMG, i cant wait for v2, I just tried to claim my Sushi LP and did only one payment, it took my ILV pool.. then I paid again and it took the 0.00045 ILV from my ILV pool AGAIN, doing nothing with my Sushi LP.. I get to pay 4x transaction fees 😩

[twin skiff]

Correction, 5x transaction fees, I will just wait till v2 comes out 👍

[waxen ether]

when is it coming out?

[twin skiff]

dont know, someone in chat said it should be this month

[rapid sentinel]

Does it worth to stake 1 ILV? Or should i wait and buy more in order to don’t lose much in gas fees? Planning to lock for 12months

[onyx topaz]

gass gonn be like $100-200 to compound

[twin skiff]

If you know you are planning to buy more soon, id personally combine as much transactions as you can, just watch the gas tracker so you have low gas prices

[onyx topaz]

where can i find more about this redis

[cyan rampart]

!revdis You can also read through the tokenomics Medium articles or Whitepaper.

[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.

[twin skiff]

there are also some nice videos made in #🎨〕community-content by guys like Scoriox, Vetemor and Stormi: https://www.youtube.com/watch?v=aB69710B21c

[turbid drift]

Can someone help please. My metamask has been hacked and someone has my seed phrase. I have ILV staked for 12months…can i import my staked ILV to a different metamask or is it not possible because its staked for 1year?

[vital kayak]

Don’t set too low or it could get stuck and that’s a pain in the ass to clear the noice

[vital kayak]

I’ve heard some have success contacting METAMASK support for such issues.

[vital frigate]

It is not possible

[cunning perch]

Staked ILV can only be saved through V2. (hopefully)

[vital kayak]

Tim answered “complete in 12 months “ I’d love to hear this topic expanded actually. Need more detail or clarification. Doesn’t every reward staked start a 12 month clock of its own?

[cunning perch]

When vesting is done it means the token is added to the circulation and is staked. you can withdraw it. But it loses its weight after withdrawal and in case you want to staked it again you're gonna have to lock it.

[glacial oracle]

New to the project, if u lock your ILV when the APY is 100% and then the APY decreases to let's say 20% during the 12-months locking process, do you collect your ILV with 100% profit or 20%

[cunning perch]

first know anyone DMing you is a scammer

[glacial oracle]

ofc lol

[cunning perch]

Reward distribution drops every 2 weeks. So you will eventually get fewer rewards. It is not fixed and will mostly decrease as more ppl join the pools

[cunning perch]

yeah. Any one saying "I'm new" will receive tons of scammers in DMs trying to rob him. good to know you are vigilant.

[glacial oracle]

So it means that you get your rewards every 2 weeks but u can't collect them till the 12-month locking ends, right?

[cunning perch]

you get rewards every 15 seconds (every block). read the following words:

[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.

[glacial oracle]

That was clean, thx mate

[brisk surge]

these staking fees with ETH are a killer

[abstract coral]

Is 2 ILV worth staking it? Consider the gas fees.

[brisk surge]

Can someone help me with the SLP staking? I have ILV now but I don't know how to get the SLP. I already approved sushiswap, but not sure how to proceed.

[cunning perch]

Maybe not atm. Wait for V2 proposal to be released and read to see if it's worth it

[cunning perch]

!lp

[woven ibex]

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

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

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

[cunning perch]

do that 👆 and don't answer DMs. They are scams

[brisk surge]

Thank you!

Does the 50/50 have to be exactly 50/50? If yes, how do I make sure it is?

[cunning perch]

When you have 50/50 of both, when you add ILV to the Sushi LP, the ETH part will immediately get filled with an equivalent amount from the ETH you have in your wallet. (like $10 in ILV and $10 in ETH)

[brisk surge]

I see, thank you so much!

[abstract coral]

Can you also just stake your ILV or only liquidity pool? If yes what are the APY?

[cunning perch]

you can stake any one of them. You can connect your wallet to the staking website and check all the detains. For staking, follow below 👇

[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

[vital kayak]

See, here’s where I take the opposite position of my dear friend Arash. I believe it’s absolutely worth staking, idc the gas (which is low atm) because every day, every hour you’re missing out on FREE ILV REWARD generating .

[cunning perch]

That's why I said wait for V2, cuz he has to pay gas again to upgrade AND we don't know how long he plans to lock it for 🙂

[vital kayak]

Im still paranoid about V2 and wana be grandfathered into V1 personally

[cunning perch]

haha well you will have to upgrade cuz V1 will be rendered obsolete when V2 is operational

[atomic lagoon]

where can I check the current price of 1 Sushi LP token?

[vital kayak]

Generally, 1 $ILV / ETH pair =.4 SLP . So if ILV spot is $1,500 + $1,500 worth of ETH + gas (and rewards claim if you have any) = .4 Sushi pool token

[atomic lagoon]

Thanks

[vital kayak]

Sure! Note: There’s also gas to swap ETH into that ILV token. Hence why Arash suggests wait for V2 anytime now to help lower gas for all the above

[warm knoll]

Hopefully we will have soon the exact process for V2 and nice content creator videos on it )

[sacred cosmos]

I havent staked in a month and I was planning to do so this weekend but when I checked how much ETH I need I got shocked lol. The jump in price pumped the ETH pair I need for SLP hahaha

[cunning perch]

https://tenor.com/view/its-gonna-be-fun-entertaining-its-going-to-be-fun-youll-have-a-good-time-its-gonna-be-a-good-time-gif-17067085

[verbal egret]

Anybody has also the problem that illuvium.io is not useable anymore with TrustWallet?

It just pops up some collection very fast from some Wallets from desktop apps, but non connection for TrustWallet will shown up.

[cunning perch]

Try Wallet Connect not the app logo

[safe schooner]

I have a question about revdis ;
I just read the last message from Moz4rt about it and I don't understand from where will come the unlocked ILV when it says "The same max supply of 10 Million ILV will be used for this purpose regardless of how many games the DAO develops"
does it mean that there is another stock of 10 million ILV only for revdis ?

And also, does the ILV which come from staking will be illegible to revids ?

[autumn cloak]

No. It is the same 10 million for revdis. And only the ILV that are staked are eligible

[safe schooner]

So if I staked all the ILV I will earn from stacking they will give me revdis in the future ?

[cunning perch]

When it's generated, yes.

[safe schooner]

Ok thx, but does there will not be a problem of ILV disponible to pay in revdis the holder of staked ILV at a moment ?

it seems limited in time

[cunning perch]

I didn't understand the question sorry

[safe schooner]

no problem, I will try to explain better, maybe I don't understand some stuff also ;

revdis are different from rewards from staking, right ? It will come from the in-games transactions when the game is launched ?

The revdis are paid in ILV right ?

So, if the revdis come from the same initial pool of 10 million ILV it can't be eternal over the years because at a moment there will not be enough ILV disponible.

[delicate cloak]

Purchases are made in ETH and then the vault buy ILV off the market to distribute. There will always be some being bought and sold, just like any economy. The price will just dictate how much you get from RevDis. High token price, low amount of ILV as RevDis. Low token price, high amount of ILV from RevDIs.

[cunning perch]

What @delicate cloak said and this #💰〕token message and the PM after that

[coral pike]

Just fyi : There will never be "10 million ILV " that was the starting value.

The amount of ILV available is constantly decreasing over time and will continue to decrease until yield farming ends in the summer of 2024

Every time someone chooses to claims sILV as a reward instead of ILV it prevents an ILV from being created . So in theory its possible there could only be 7 million ILV at the end .

No one will know the true amount of ILV available till the exact time Yield farm ends.

[steel jewel]

People buy ingame content/Merchandise/what ever using eth or usd.. All of this rev will be used to buy ilv back from market every 2 weeks. For example the rev illuvium made with all that shit around their game(s) in last 2 weeks is 20.000.000 usd, so they spend 20.000.000 usd to buy ilv from market (idk if they use sushiswap or binance or whatever xD). Assume the actual ilv price is at 2.000usd so they buy 10.000 ilv tokens from market. Now you staked 30 ilv tokens and there are 300.000 tokens staked overall, so you get 30/300.000 of the 10.000 ilv tokens bought back. That is 1 ILV. Congrats you just got 1ILV BONUS in 2 weeks by staking 30 ILV

[safe schooner]

Ok thx, and we are ok about the fact actual rewards are not revdis, right ?

[coral pike]

revdivs and staking rewards are completely different

[safe schooner]

Ok, thank you all for the time you helped me to clarify this concept !

[steel jewel]

At the moment you dont get any revdivs by staking.. That starts when the game and everything around the game starts producing revenue

So actualy you just get stakingrewards

[coral pike]

the first revdivs will be from the land sale I believe but its still in question how they will be distributed as protection from front running and exploiting the flexible staking system needs to be addressed

[safe schooner]

and the revdis will come directly into our wallet ?

[steel jewel]

I think they will be shown as rewards or revdivs in illuvium staking page next to your vestings

But revdivs arent locked for 12 months like stakingrewards

[coral pike]

Only ILV staking rewards are vested for 12 months at 2x weight.

silv staking rewards are available immediately without lock

[safe schooner]

Ok ! I'm glad you are here to explain 🙂

And if the Illuvium society buy ILV from market with $ or ETH, can we assume that the price will go up by this action ? I mean, if there are less and less ILV in the market and more and more stacked, the price need to go up until some people will convert their ILV into another currency ?

[atomic lagoon]

Theoretically you are right.

[delicate cloak]

It creates buying pressure and demand. Just ties into the great tokenomics of this project.

[oblique ore]

Do we know if when in Liquidity pool if I took out my current reward ILV would I still be in the pool staking and continue to earn ILV or would it just be a complete pullout?

[delicate cloak]

Any rewards that have been claimed vest in the core pool. This is completely separate from the liquidity pool on SushiSwap. You can withdraw one or the other separately. Note: your rewards have to have vested for 12 months for ILV. sILV is immediately liquid.

[oblique ore]

Thank you.

[olive jungle]

if i want to have SLP do i need to have some ETH in my wallet?

[delicate cloak]

You need equal value of ILV/ETH to exchange for SLP tokens. You will then need additional ETH to execute transactions.

[olive jungle]

okay thx

[hushed spindle]

ah okay. so if you withdraw it... you will be getting less tokenss. a sort of penatly for taking out early.

How big of a penatly is it ? or any more info on that topic ?

[cunning perch]

It's not penalty. It's just logic. In the simplest explanation, if you have 10 ILV and you receive $5 per token/month, you'll get $50 in total. Now if you withdraw 2, you'll get $40. Cuz the 2 is removed from staking. (it's not that simple and def now a 2*2, but I just gave an example to be simple)

[hushed spindle]

ah okay... i seee. so the APY of 477% is assuming you will keep your rewards locked for 12 months.

[cunning perch]

Yes it is considered yearly, and keeps dropping as more ppl join. Also reward distribution drops 3% every 2 weeks.

[thorny iris]

Yo do any of u use trust wallet to stake ilv?

[cunning perch]

U can use TW. (watch out for scammers and don't answer DMs)

[thorny iris]

Thx bro

[frail merlin]

what is the difference between providing liquidity and yield farming?

[delicate cloak]

I meant read the pinned posts or watch videos. It's not an easy explanation really.

[frail merlin]

it is different though?

[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

[delicate cloak]

They are different, yes.

[frail merlin]

ok thanks. I'll look into it

[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

[magic laurel]

Oh true wouldn't people buy stake for a bit and sell instantly

[haughty canopy]

Hey all, just wanted to confirm, can you stake ILV from any DeFi wallet? I’m wondering if I could stake from the crypto.com DeFi wallet?

[cunning perch]

If it is supported by Wallet Connect, then yes. Always check of it is supported

[haughty canopy]

Where would I check if wallet connect is supported?

[coral pike]

that is what they need to find a way to prevent

[cunning perch]

Open Staking Website and click on Connect Wallet and then Wallet Connect (watch out for scam DMs. Don't answer them)

[haughty canopy]

lol, someone just tried to impersonate you on discord.

[cunning perch]

Yeah I know. That's why I always add it to my PMs for ppl to know there are thieves lying around.

[haughty canopy]

I reported them

[cunning perch]

Be very vigilant. No one legit DMs you. Always keep to public channels

[haughty canopy]

Yes, the crypto.com defi wallet connects for staking, just fyi

[haughty canopy]

Okay, ran into error. On Illuvium website, I use wallet connect to connect defi wallet. It opens wallet automatically. I approve connection. I go back to website and approve staking. Then it goes back to wallet and says Oops! Something went wrong.

Time to rewatch tutorial. XD

[cunning perch]

Using this? https://staking.illuvium.io? And yeah watch the tutorial pinned in the channel as well

[haughty canopy]

Yeah, using that page

[cunning perch]

Never used Crypto.com so can't guide you there. But it should work if it is supported

[haughty canopy]

If I can’t get it working, then I’ll try accessing the wallet on meta mask instead. That should work, right?

[magic laurel]

Yup

[cunning perch]

Yeah. Make sure it’s on ETH mainnet

[sullen briar]

Hello fellow crew! I've got 2 questions about staking. I've been staking LP token since July and so glad I've done so!! I locked 2 of 3 positions for a year for max gains 😁. The other third just got done with its locked period but I haven't clicked withdraw yet and would rather not. Somy first question is: I'm still getting rewards on it since I didn't click withdraw?? Looks like the weight is still there and its still doing its job gaining rewards.
2nd question is: When I finally withdraw an unlockable position I will have to wait another year to get access to the rewards as ILV?? I know the in game sILV can be used immediately once the game goes live. I'm happy either way because I'm in it for the long haul, I was just a little confused. Please and thanks for advice!! 🙏

[atomic lagoon]

Question 1 - Yes you still get the rewards the same weight if you do not withdraw the staking amount.
Question 2 - When you claim the rewards as ILV, you will have to wait 12 months vesting period for the rewards. The reward amount in the vesting 12 months will also enjoy the APY the same as the ILV pool during that 12 months. But if you claim as sILV you will get them immediately.

[ivory heath]

hi is there a link for a staking calculator

[sullen briar]

Great thanks! Now what if I want to lock my 1/3 thats unlockable now and lock it up for a year from now so the LP has more weight? Is that possible? Would I just withdraw and then sign a new contract under 1 year for max gains?

[atomic lagoon]

you can check in the pinned message in this channel.

[ivory heath]

thanks

[atomic lagoon]

you are right. you will need to withdraw and restake for 1 year.
based on what I have been reading, if you do withdraw and restake after v2, it may cost you less gas to do that. So you might want to wait and see. Then again I do not know when v2 will be out. Also the proposal for v2 is not released yet. So the decision is yours. 🙂

[unique tundra]

When I click the Crypto.com emblem in WalletConnect I just keep getting - 404 page not found?

[sullen briar]

Very helpful!!! Thanks again!

[rapid flax]

Quick question, does it cost gas to claim Silv vs ILV rewards from stakes?

[cyan rampart]

It costs gas to claim each, yeah.

[rapid flax]

Ok thanks. Thought so but just wanted to make sure

[ionic surge]

Please advise: if I want to remove my sushi LP by, I use “withdraw” under the vesting page?

Then there will be two transactions? Trans 1: claim ILV, trans 2 withdraw? Correct? Thanks!

[cyan rampart]

Correct.

[ionic surge]

Much thanks!

[trail sail]

First try without 23494 messages and $400 in lost gas. What a miracle

[vital kayak]

These numbers /profits from staking are incredible from @jovial moat & @potent sable 🤩🤗🤑https://youtu.be/DajVg0N5ujM

[trail sail]

HAHAHA such a dramatic opening

[vital kayak]

Unfortunately he missed the first 5 seconds , an error in recording, but damn, when the break down all the numbers and in a very conservative estimate, it’s pretty exciting!

[trail sail]

I think people are sleeping on the fact that a $30 loop does NOT equal a loss of $30. It's just 30 within an ecosystem where theoretically people are going to be increasing their assets all the time

If my $30 loop makes me 200 then I'm not going to second-guess making 7 more that day

[vital kayak]

Watch around minute 14-15 on Poorman video 😉

[brisk surge]

Blows my mind that people think the Illuvials will sell for 4-5x of the cost to caputure them. I cant imagine anyone will pay that much so i would describe those estimates as super moonboi numbers, certainly not conservative.

[left wharf]

Question to fixed staking: What is the smallest time count on the fixed staking? Days, Hours, Minutes, Seconds?

Edit: When I stake today for a week, does the staking end in that minute in seven days?

[magic laurel]

I just hope that it never turns into gambling where if a loop is 50 dollars most common drops would sell for less than 50 and only the rare ones sell for more

[brisk surge]

I think thats kind of inevitible. If I can do a loop for $20 and catch two Illuvials, Why would I ever pay more than like $15 for an Illuvial? If the market is overpriced to the point of $50 Illuvials everyone will just go catch them themself rather than buy them.

The margins on just running a game loop will get run down to near 0 within a couple months I bet, You will have to have good planning and an understanding of the market to remain profitible long term.

[magic laurel]

Ur right, I wonder what they have planned for long term sustainability in that case

[brisk surge]

Well the ILV tokens for ingame yield will be a good motivation, If you break even on your loops but it helps you earn some of the ingame ILV thats still profit.
I think a lot of the big money will come from holding the rare Illuvials long term. Once the gen 1 Illuvials are no longer availible to capture they will begin to gain collector value and become more scarce through fusion and playerbase growth.

[boreal cape]

Gwei is 51 😁

Now it’s 65 😅

[coral pike]

its stated a player will have to play 15 k hours ( correct me if I am wrong) to catch everything and each run will cast money for travel and supplies I don't think longer term sustainability is a problem if you are talking about every run being "profitable" i think that is not exactly reasonable or sustainable

[trail sail]

Yeah he also posted a high-profile calculator that was debunked in like 6 hours so not exactly a great track record when he says "Dont look into this too far" lol

[trail sail]

The sustainability is that it's a fun game that people like to play

[magic laurel]

That's not how it works

[trail sail]

Have you played a video game before? LOL

[haughty canopy]

Where is the best place I can find clearly explaining the revenue distribution going back to stakers?

Is that applicable to both the sushi eth/ILV pool and the main pool? Or just the main interest pool that is currently around 40%?

[brisk surge]

Check the medium articles (28 and 29)

[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

[clear cape]

This. A fun game that people enjoy playing that is enhanced with blockchain technology in the form of NFTs, for an even better playing experience

[jovial root]

I think it shouldn't be profitable for people on every run or every situation.

People should be choosing multiple playing pathways, and that would determine if they are Net Positive on their costs.

A person wanting "catch them all" is likely to be largely Negative costs, as they will be spending and hunting and scanning for specifics, rather than what is convenient.
Similar for a person looking for a holo or dark.

A person just enjoying the game experience and open world, would be less costly but still negative as they would be spending energy trying to go places and explore, but not to farm assets.

The ones there to make money, will likely be grinding with multiple accounts to make use of the Free daily energy, and hoping to make use of % chances to hit jackpot with a holo or similar.

And then others might just focus on getting the solid team and practicing their Meta to then compete for ETH... they may never even visit the open world.

And lastly there will be some who don't don't open the game, and instead just buy and sell the Assets, trying to monopolize the market resources.

P2E has so many options for such a huge variety of people and playstyles.
But I don't think P2E should ever be "guaranteed to profit"
People should still be required to "pay for the opportunity of profit"

[haughty canopy]

Thanks!

[haughty canopy]

So it looks like just the SLP Token holders will get distributions for The Vault (5% of player transactions), is that correct?

It says: "What are distributions?

Frequently, the Vault will buy $ILV from the Sushi $ILV / ETH pool. This $ILV is stored in the Vault and made available for the token holders to claim.*

You can let this accumulate until the value is high enough that you feel it is worth the gas fee. Pool weight is not used for distribution calculations, and instead, the system counts the total number of $ILV per pool and distributes it accordingly. Inside each pool, the token weight and quantity of tokens determine how much of the total $ILV purchase each token holder is entitled to.

*We use the term claim instead of vest because these token distributions are unlocked and do not have to vest."

I guess its not super clear to me, and I want to make sure. It says "token holders". Does this refer to anyone that holds ILV, or just the SLP Tokens for the liquidity pool?

[potent sable]

Actually my recent video covers this lol. You're right that everyone is missing that and I want to go more in depth into it soon too :)

[cyan rampart]

ILV token holders who have staked their tokens in either Core Pool will receive revenue distributions.

SLP stakes are only 50% ILV by value.

You only get revdis on your staked ILV tokens.

Holding, but not staking, ILV, doesn't entitle you to revenue distribution though.

[haughty canopy]

Thanks that helps a ton. That info should probably be added to the section, because rev distributions could be a large portion of the reward from staking

I could see how people might want to do sushi pool for a while, then switch to just ILV if the rev distributions are really good

[cyan rampart]

Yeah, I suspect that the SLP pool will outperform revenue distribution until a few months post launch. Eventually I think revdis will far exceed the rewards from SLP, as more tokens become unlocked and staked in the pool, the APY in that pool will decrease, plus the total rewards for yield farm decrease over time (3% every 2 weeks).

The team talked about the need to update Medium articles for clarity and to be current in the last voice chat meeting a bit. The reality is that the priority is to build out systems needed to get the game online. It's unfortunate that more clarity and current information are kind of available through word of mouth and/or knowing where to look, but it's definitely in the interest of the project to spend development time on actual development instead of updating old articles etc.

[spiral yarrow]

Hello, I have stake my ILV in the core pool and they are locked. Hoz can I see the remaining time until my token are unlocked please ?

[tawny hemlock]

I just learnt about staking today, even though I bought ILV for awhile 😄

[haughty canopy]

I have watched 10+ videos on YouTube on Illuvium, and not any of them know about revenue distribution to stake holders (that I saw). That's utter insanity that influencers don't know that. It should be one of the main selling points of staking. It's a HUGE potential upside to staking that 98% of crypto enthusiasts don't know about the coin yet. You want the price of ILV to spike. Have clear documentation in the papers. Get the word out and make sure people discussing the topic explain that clearly. I also do not see youtubers talking about the percentage awarded for staking very often (sometimes), and that's another big reason more people will buy into this coin long term.

Maybe I'm thinking it's a bigger deal than it is, but I didn't hear about it until I read through this staking discussion on discord

[delicate cloak]

RisingStorm aka Stormi has it in one of his first videos. He's one of the current council members and has a few videos, he usually does one a week.

It is definitely a big deal. If people aren't realising it exists, they're sleeping big time. I'm pretty sure Volkin and Vetemor speak to it in their staking videos but it's been a while since I watched them to really say with 100% cetainty.

[trail sail]

I've seen it mentioned in every relevant video tbh. Most of the ILV content creators have specific videos specifically on rev dis

[cyan rampart]

I'd point to this being a flaw of getting knowledge secondhand. The whitepaper and Medium articles both point out revenue distribution. It's unfortunate more YouTube videos don't talk about revenue distribution, but it's something inherent to the format - the person making the video doesn't actually have to cover everything, it's entirely up to them what their content looks like.

You're right - Revenue Distribution is a super important part of the project.

[delicate cloak]

Good point. Starting with the whitepaper is always one of the best places to start imo

[haughty canopy]

I read through the whitepaper yesterday. I didn't see anything about rev distribution at all.

The Medium.com articles talk about it though

[cyan rampart]

You're right actually, the whitepaper mostly focuses on the game itself, and the early token sales.

[trail sail]

I can't find it actually - am I missing it or is this a potential oversight

Very briefly in the intro

[haughty canopy]

Yeah, exactly. A lot more people will buy and stake if they know they can earn part of 5% of what the game earns long term.

[cyan rampart]

Well 100% of revenue goes towards revenue distribution.

You're thinking of the 5% cut on player to player transactions.

[trail sail]

Some of which (5%?) is funneled to ILZ landowners now. But 100% of the remainder is distributed to ILV stakers

[cyan rampart]

IL:Z landowners make about 5% of Fuel for the game, and get paid when they sell the Fuel they make.

It's kind of nuance but it's important.

[haughty canopy]

Why does it say 5% of the value of the transactions go to the value for distributions then?

[trail sail]

That's 100% of what the game makes, the other 95% the sellers make

But also merch revenue, movies, new games, etc etc 100% to ILV stakers

[cyan rampart]

If I sold an NFT asset to you for 1 ETH, I'd get .95 ETH, the vault would get .05 ETH.

Some things are sold directly by the DAO (ex. Fuel via the DAO Fuel tap) and 100% of that revenue goes towards revdis.

[haughty canopy]

Okay, so 100% of the 5% portion of the total revenue goes to the vault.... Can I ask then where the developers are taking a cut? Is it just because they are the largest stake holders?

[cyan rampart]

#💬〕general message Here's another example.

[trail sail]

They have their own tokens. And the vault holds tokens that get a cut

[cyan rampart]

Developers get paid normally. The Team has 1.5M tokens, of which 1.4M are with the upper management for the project.

Their tokens are further incentive to develop a badass game 😛

It's worth noting that upper management voluntarily extended their lockup period. Their tokens are on a 3 year linear unlock schedule starting in March 2022. They changed it from 1 year to 3 years of their own accord.

Super admirable move, it shows their dedication to success.

[trail sail]

Or the slooowwweeesssttt rug pull in history

[cyan rampart]

Grant would be pissed lmao

[trail sail]

HAHAHA his part is actually the most elaborate

[haughty canopy]

"get paid normally" but I'm asking what the source of those funds come from long term. If this game is going to be developed for many years, then it needs hundreds of millions to pay a large team of devs. Is the money going to come from the rev distribution and the company is just going to get a large portion of that 5% rev distribution cut? Or can they not stake the funds at all until it is unlocked. I might be confused on that point. I'm not accusing Illuvium of being a Rugpull by any means.

[trail sail]

The tokens in the vault are also eligible for rev dis, that's where operational funding comes from. And of course you're not I'm just fking around

[haughty canopy]

I'm just trying to figure out where the long term development funds will come from.

[delicate cloak]

They have initial seed money and then the treasury will stake tokens for RevDis to continue generating revenue for the team

[trail sail]

I would've killed to be in that first round of funding. And I would have needed to because I don't have 500k

[cyan rampart]

The Treasury can support further development when that becomes necessary. The initial funds for development came from seed/preseed investors.

[haughty canopy]

Gotcha makes sense I think.

[trail sail]

First 1.5m tokens (of 10m total) went to three investors at 500k x $1 each

[delicate cloak]

Wasn't it 500k at $1 and 1M at $3? Still incredible return but it means they raised more money is all

[trail sail]

Yeah you right. Imagine having 200k in this random game just inside someones brain thats 1500x'd before it even comes out

[delicate cloak]

I just double checked. It was 500k at $1 and 1.5M at $3. So that's a pretty decent war chest to start developing on

[haughty canopy]

Thanks for answering the questions! I'm super hyped on the project in general. I'm debating about buying a big chunk of ETH for doing the Sushi Pool or not, but it would be larger investment of ETH to match my ILV. Looking for personal experiences, do you think the SLP is worth the extra risk for you? I guess my main concern is if anyone is losing a large portion of their investment to Impermanent Loss, or is that not really that big of a deal because of the extra revenue from the exchange fees on Sushi?

[cyan rampart]

NFA, but I love the SLP. I'm getting like 10-11x better returns from the SLP stake than my comparably sized ILV only stake.

[trail sail]

As I understand it, really impermanent loss in most cases is just loss of potential upside because we're make 500% (or whatever)
I don't think it ever comes close to not being worth (until rev dis kicks in - you only get it for the ILV half)

[cyan rampart]

Downsides: Claiming and staking is more expensive.

[trail sail]

It's super expensive gas though, plan like 500+ USD from fiat to finally staking in SLP

[cyan rampart]

Gas rn is actually insanely cheap.

Go now! 😉

[trail sail]

Someone said they did a $30 swap today. What the literal ****

[trail sail]

I put in about 7k (1.63SLP) like 2.5 weeks ago and have 1.46 ILV in rewards. Do with that what you will

[haughty canopy]

That's great. So it doesn't give the SLP tokens in return then? So no ETH return, just ILV value back--now it make sense as to why they give such a high interest rate.

Cause you're earning interest basically for the value of your ETH + ILV, but just getting ILV returns

[trail sail]

ILV or sILV as rewards, but the ratio* of ILV and ETH you get back when you unswap will be different than when you put in (this is the impermanent loss part)

[haughty canopy]

Does the total original value stay the same at least? I need to more research on impermanent loss

[coral pike]

@haughty canopy this explains slp very well ( at least it did for me )

https://www.publish0x.com/ilvfi/the-ultimate-faq-illuvium-slp-liquidity-pool-staking-xrnxvzo

[trail sail]

https://academy.binance.com/en/articles/impermanent-loss-explained
If you scroll down to "How does IL happen" It's a pretty good example

1.25x price change = 0.6% loss
1.50x price change = 2.0% loss
1.75x price change = 3.8% loss
2x price change = 5.7% loss
3x price change = 13.4% loss
4x price change = 20.0% loss
5x price change = 25.5% loss

Basically the more out of whack they get and rebalance, the more you lose. But you're only incurring these losses because the assets grew in value, and since you're exposing yourself to this risk for 480% APY the odds of it EVER being worse than hodling are extremely slim. (NFA)

[haughty canopy]

If you wanted to SLP stake 1 ILV, do you need 1 ETH? Or do you just need the equal $$ value amount of ETH to what ILV is value at that time?

[trail sail]

$$ value.
I used zapper so I could just have ETH and it did the rest for me. Oh but you have ILV already

[coral pike]

If you wanted to stake $1000 SLP you would need $500 ETH and $500 worth ILV + gas fees

[broken ivy]

When I hit claim, there's a gas fee for rewards - is there also a gas fee to get the tokens after the 12 month vesting is up and I claim the vested rewards?

[haughty canopy]

So basically, if you wanted to keep restaking your new ILV into the sushi pool, you'll need to keep buying a lot of ETH too, for both the gas and the price matching. Youch x)

[coral pike]

what do you mean about "new ilv"?

[haughty canopy]

From the staking rewards, like in 1 month, if you have enough ILV that it is worth restaking it

[coral pike]

No that is automatically staked for 12 months in the ILV core pool for vesting

[haughty canopy]

Ahhh... So can't reinvest it in the sushi pool for a whole year. Gotcha

[coral pike]

you do need to "claim" it first at present to claim you need to pay 2x gas soo you need to be aware of not only gas fees but also your not going to pay $200 to claim $50

[trail sail]

That's a large part of why sILV pools exist rn - whales claim rewards in sILV (which is unlocked), sell (even though its at a huge discount), and re-stake what they made into SLP

Need a lot of rewards to make that worth gas though

[haughty canopy]

So you won't earn interested on new ILV until it is claimed?

[coral pike]

correct

[broken ivy]

But do you also have to pay gas a 3rd time when claiming after the vesting period is done?

[coral pike]

to withdraw - possible i havnt reach ed that part yet

[haughty canopy]

If you want to move it out

[trail sail]

To claim the ILV rewards pool and to move the original staked amount, yeah

[coral pike]

yes any transaction on eth mainnet

[trail sail]

I have gas in MM for one claim before land sale (for some extra rev dis) then potentially leaving the rest until ETH 2.0

[broken ivy]

Yikes, that might get expensive. I've been claiming rewards monthly on a 12 month lock up for my stake thinking I'll be able to start extracting rewards at 13 months, 14 months etc

[haughty canopy]

If you keep them long term, you could move them all at once after they all are unlocked. Also, won't gas fees be reduced with ETH 2.0 comes out? Shouldn't that be out by the time all of those are out of lock?

[broken ivy]

Hopefully! Who knows how on time eth 2.0 will be

[coral pike]

you can read about it here
https://ethereum.org/en/eth2/

[broken ivy]

👍 Thanks for the help 🙂

[ionic heron]

Hi all, is there a way for me to transfer my currently staked SLP from my metamask wallet to metamask ledger wallet ?

I would like to have the added security of ledger linked metamask wallet

[coral pike]

not atm maybe in staking v2 but nothing official yet

[ionic heron]

thanks.

[ionic heron]

any indication when V2 is coming ?

[coral pike]

The new proposal has not yet been released.
Then it has to be reviewed by the council
Then voted on if it passes great if it doesn't well more time
so no indication yet not sure how auditing works so that could add more time .

[ionic heron]

thanks

[silent cedar]

But it should be the next thing happening.

[chilly grotto]

hey i just saw in a utube video that you get a 50% discount if you buy silv early. Is this true

[livid light]

it's about there there 50%

[chilly grotto]

So I just need to buy the ILV token and stake it to get the sILV token?

[hollow kelp]

What are the !token addresses?

[clear cape]

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

[thorny lantern]

Yes

[thorny lantern]

sILV can be claimed as a reward for staking ILV

[frosty hawk]

Help me.
I want to convert my SLP tokens back to ILV and ETH.
I pressed "Approve" on this screen, but it doesn't respond.
What is the problem?

[supple meadow]

Did you approve it in your Metamask also? There are other ways to split the LP token like on vfat tools page, give it a google. Sometimes just waiting a little a trying again later works if you tried everything else.

[frosty hawk]

I use Trust wallet. When I press "Approve", I cannot call the smart contract.

[supple meadow]

I don't know much about Trust wallet but in Metamask it will ask you to accept or reject the approval request. If thats locked up for you then maybe try one of the other ways to split it

[gloomy gazelle]

I tried looking again and didn’t get any new ideas. You may need to bring it up on the sushi discord. Sometimes wallet updates or website updates mess things up.

[supple meadow]

If i remember correctly you can split LPs on https://vfat.tools/ and on Etherscan there is a way but its been a while so you gonna have to look up the process

[frosty hawk]

Thank you!
I'll ask at sushi descord.

[frosty hawk]

I've never heard of it before, I'll look into it.

[cyan rampart]

Zapper might have functionality to let you unstake your SLP. It's likely an issue between Trust Wallet and Sushiswap.

[supple meadow]

https://vfat.tools/sushi connect wallet find the LP pair , I think in number 244, click then say remove liquidity

[frosty hawk]

Is Zapper this URL?
https://zapper.fi/

[cyan rampart]

Yes, that looks right.

[frosty hawk]

Thank you

[clear cape]

anyone getting this issue?

[frosty hawk]

For some reason, the wallet could not be connected.Trust wallet problem?

[frosty hawk]

Success! Thank you!

By the way, I tried it with my other wallet(Metamask) and it was the same there.

I think that Sushiswap has a problem.

[cyan rampart]

It could be that they pushed a bad update recently or something. Glad you got it sorted out!

[midnight crow]

Need help with claiming using metamask. I pressed claim for ILV in SLP pool in metamask and there is a "Process Rewards" pending. There is a "Speed Up" and "Cancel" button. (1) Can I cancel without paying gas fee? (2) When this goes through, what do I do for the second gas fee necesary to claim?

[glacial cairn]

Hi! how do I withdraw my ILV from binance to stake?

[velvet herald]

Send to.ypur web 3.0 wallet such as metamask and head to illuvium website,.pinned instructions for staking

[chilly grotto]

hey wanted to know if there is any whitelist for land purchase

[trail sail]

Nope

[chilly grotto]

ok

another question, if i have sILV is there a way to convert it to ILV

[brisk surge]

Nope

[chilly grotto]

Can i use the sILV to buy land as well as other NFTs associated with the game

[trail sail]

You can sell it and use funds to buy ILV but you lose a lot of buying power. And yeah ^

[brisk surge]

You can use it for land or anything else sold by the DAO. You cannot use it on the Illuvidex to purchase from other players.

[chilly grotto]

ok thanks guys

[proud cliff]

You can sell your sILV for ETH on Uniswap then use the ETH to buy ILV

[atomic lagoon]

You can directly swap. No need to go through ETH.

[unkempt oak]

Hey all. Qq. I have slp and Ilv rewards. When I select claim Ilv button next to the slp pool it will claim my rewards from the the Ilv pool but not from the slp pool. Is this happening to anyone else?

[brisk surge]

Is it worth staking 0.77 ILV now while gas prices are lower or shall I wait for 2.0

Like everytime I claim whilst steaking will it charge me more than it’s worth?

Or can you just claim everything at once when gas is low?

[unkempt oak]

If you stake it just don’t claim your rewards very often

[brisk surge]

Ye so I don’t have to keep claim I can let it build up?

[magic laurel]

u might be forced to claim when v2 drops

[brisk surge]

Ok thanks guys

Does anyone know why it’s saying this?

[olive jungle]

Is staking 0.25 slp too little?

[gloomy gazelle]

What does etherscan say?

[gloomy gazelle]

Copy This tool vetemor and check to see if your transactions will be worth it. https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit?usp=sharing

My guess is it will be close.

[old marten]

Maybe this is a silly question, but I can either collect ILV or sILV right? NOT both?

[gloomy gazelle]

You can collect either. You just can’t collect both in the same claim transaction.

!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.

[worn palm]

Does all vesting ILV have a 2.0 weight or is it set at that because I've locked mine away at 2.0 (12 months)?

[atomic lagoon]

All vesting rewards have 2.0 weight.

[worn palm]

Thanks 🙂

[brave marsh]

do we get rewards everyday? or does it have timeframe?

[crimson cipher]

Yield farming reward are distributed all day long. Revdis will be unpredictable and more sporadic so people can predict and buy just for revdis

[brave marsh]

so its not a good idea to stake right now? should i wait for v2 ?

[crimson cipher]

It depends on how much you want to stake but yeah you have to look out for gas fee

[atomic lagoon]

If it is me, I would stake now as I don’t know when v2 will be out and how much exactly cost savings in v2. Don’t want to miss out on the rewards. NFA of course. Also weekend less gas.

[brave marsh]

yeah, makes sense, i need silvs for land too , i think staking now would help me grind some silvs.

[worthy peak]

but you can buy silv with a huge discount

[brave marsh]

Yeah, i checked that too. but i feel whales wouldn't let me buy single land 😦

any speculation on starting price for the land?

[atomic lagoon]

I saw some where (but i couldn’t recall where) that land prices may start at 2x or 3x of speculated prices not 10x.

[brave marsh]

Yeah, hope they announce land details soon, so we could decide how much exactly we need to spend on it.

[worthy peak]

well they will give initial prices of the Dutch auction, but only the market will decide actual ones

[queen wind]

Am I right that you cant withdraw staking rewards for the first 12 months?

[worthy peak]

yes they are locked for 12 months

[atomic lagoon]

If you claim as ILV, yes.

[bitter magnet]

Do i need both ILV and ETH to mine liquidity?

[worthy peak]

eht is needed for gas, yes, when you claim rewards and stake them

every transaction is work of a smartcontract, which requires some gas

[still kindle]

Just letting you all know Ive seen gas at 49 this morning ..... havent seen this for weeks..... good time to claim

[blazing path]

Doesn’t V2 have a 24 month lock? Something else to think about….

[blazing path]

Wow. I saw 62 GWEI and thought that was good!

[atomic lagoon]

Nothing is confirmed yet. I read soemwhere that some of council members do not agree with 24 months lock period. We will see the proposal first before it is voted anyway so we will only know then and can decide based on what we see in the proposal.

[cunning perch]

It will not have a 24-month lock.

[olive seal]

If i stake my ILV for like 12 week I have to pay gas fee when I start it, but when I get back it I have to pay again the gas fee?

[cunning perch]

Every claim, withdrawal, transfer, swap, approval, unstake, stake, migration needs gas

[tired veldt]

So what if I staked 200 ilv right now and added 100€ every month? Would I pay gas fees every time I deposit 100?

[crimson cipher]

you would pay gas fee :

• to buy Etherium,
• to claim reward, (you need to claim rewards in order to stack again)
• to stake

[tired veldt]

So basically no point in doing as I described?

[crimson cipher]

no not really, but once v2 is out it could be, you will pay less gas fee

well at least not the 100€ / month

but with 200 ilv you would probably have enough rewards to claim every month so adding 100€ when you claim and restake your reward,could be the way to go

[worthy peak]

he means 200 eur worth of ilv i suppose

if he had 200 ilv, he would be very ok

[crimson cipher]

yeah that would make more sense 🙂

[worthy peak]

200 eur + 100 every month is better to spend in game, catch some cool stuff, sell it for big profit, and then invest long term for revdis🤔 NFA

[torn ember]

The gas fees for ETH are really bad. Compard to other available blockchains it's 30-100x more expensive. Hoping v2 will be ready soon. POS is such an amazing thing.

[cunning perch]

V2 is gas-efficient but not necessarily cheap. So there will be gas for claims still, but not as before.

[torn ember]

Ilv is not planning to allow for a different Blockchain connectivity at all?

[cunning perch]

Everything in ILV ecosystem will eventually move on L2. But not by V2. It'll be by V3

[torn ember]

Thanks

[vapid summit]

If I stake now (V1) will it keep the 2.0 weight for earnings till the end of the Yield farming period (2024)?

[atomic lagoon]

If you stake now with 12 months locked, you will get 2.0 weight for 12 months. But after that 12 months may depend on the new proposals.

[cunning perch]

You will have to upgrade to V2 along the way

[keen summit]

I have a few questions about staking. First about the APY, I see it is going down it was over 500% for Sushi LP when people made videos about it and now it is 477%. If I lock my money in the for a year, is it going to drop a lot more you think when this thing goes mainstream and viral?

Second question about APY: When are the interest payments paid out? I was watching a video and the host said you need to claim ILV or sILV every once in a while. He said because of gas prices, let them build up before you claim. How often are they deposited and can you sometimes claim them as ILV and lock them for a year and sometimes claim them as sILV?

[thin rapids]

Yo

Is there a crypto talking server?

[keen summit]

3rd question about APY. This is one is for you math guys. Let's say I put $10,000 in Sushi LP ($5,000 ETH and $5,000ILV) and the APY is 477% (and it stays the same), does that mean I am going to earn $47,700 in ILV or sILV over one year? So if the APY stayed at 477%, at the end of a year will I have my $10,000 plus the $47,700 for a total of $57,700?

[cunning perch]

The more ppl join, the lower it goes. Also reward distribution reduces 3% every 2 weeks.

[proper ingot]

For the first part, can't answer is too much math for a sunday. Check the calculators in the pinned section. As for how oftwn the deposits happen. It's very often. I read somewhere here that it's every ~15 seconds? You can claim either ilv or silv.

I'm not sure if you can split your reward from one claim into the two options

[cunning perch]

Rewards are paid out every 15 seconds (every block). FOr now, on V1, you will have to claim when it justifies gas. This can help you #🥩〕staking message

[cunning perch]

APY is on a yearly basis, but will go down, and as I mentioned you will get fewer rewards as time passes. So nothing is fixed.

[worthy peak]

also want to add that you will get rewards only on the ILV part, so its 477% of 5000$

[keen summit]

So if you want to claim some ILV and some sILV, you think it would be best to make two separate staking deposits?

[cunning perch]

you can claim either with each claim

[proper ingot]

I don't think that would make a difference

[keen summit]

Thanks for the great help.

So it is only 477% on ILV you stake? That means if I stake $10,000 worth of crypto I am only really earning 239% on the dollar amount. And dropping.

[worthy peak]

yep

[keen summit]

Great information. Thanks again.

[worthy peak]

or stake in pure ILV pool, but its only 38% now, but no impermaloss, and less gas when claim

[keen summit]

It's still amazing numbers if a person was planning on hodl anyway

[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.

[thin rapids]

I have bought some ILV can I stake it right away?

[cunning perch]

Mind the gas and yeah. you can. Which pool are u planning to stake in?

[thin rapids]

I have zero knowledge please mark somewhere I can learn about iy

[cunning perch]

!staking

[woven ibex]

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

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

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

[cunning perch]

!lp

[woven ibex]

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

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

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

[cunning perch]

follow one of the above. The decision is yours. Also read this #🥩〕staking message

[keen summit]

I am trying to come up with a strat this morning to stake $10,000 worth of crypto. I am not going to play the game, but my 16yo son most likely will. I may also buy land later. I spent all day yesterday watching videos and reading up on the game and project and really like it. A AAA video game linked to crypto is perfect.

[cunning perch]

Nice. Make sure you watch these vids too https://www.youtube.com/c/RisingStorm_P2E

[worthy peak]

later the land may cost much more... NFA ofc, nobody knows the future

[keen summit]

I just sold my Sandbox land to invest in ILV

[worthy peak]

you know then😉

[cunning perch]

@keen summit also watch out for DMs. now that you have mentioned $ scammers will try DMing you using other ppl's names. NO ONE legit will DM you. Be very careful

[keen summit]

Here is some interesting things about NFT land. There are 166k plots of land on Sandbox but only 12k different owners. A lot of land was owned by whales. The price of one lot is about 3 ETH right now.

Thank you Arash, I read that waring already.

[worthy peak]

btw on 10k$ you could buy a hefty amount of sILV on the secondary market, with a huge discount of 50% or even more... and buy land on it. But who knows what is better investment, land of ILV... so up to you

[keen summit]

My strat for staking might be breaking the amount into four $2,500 each. Where I do two ILV only, one flex and one locked. and two Sushi LP with one flex and one locked. That way I cover all bases. It is so hard to predict which one would be the best, so try them all all.

[coral pike]

i choose a different path 100% of my crypto into slp for 12 months NFA DYOR

[worthy peak]

yeah, lots of strategies can exist, depending on your needs and expectations

[keen summit]

What happens if you get a great tip on a crypto that is going to skyrocket and you have all your crypto locked?

[worthy peak]

i am 80% in ILV pool, 20% in SLP, all for 1 year

[coral pike]

I don't think anything could be good enough to top this NFA DYOR i don't haveany crrent plans to sell after taht either

[keen summit]

If I got the numbers right, it looks like the best this could do is around 2.5x. Which is great if you your plans were to hodl ILV.

[coral pike]

Your not taking into account 100% revdis on ANYTHING this DAO does EVER

[keen summit]

But it the next year a another crypto game could be announced that is backed by an established AAA game maker and you have a chance to get in early.

[worthy peak]

revdis will kick in at the time...

[coral pike]

do you think any ofthe big corp will give 100% revdis ?

[thin rapids]

Thanks dude
Went through all of this alot of gas fee mann

[keen summit]

You get that redis even if your not locked though. The locked and not locked just affects the APY.

[atomic lagoon]

The revDis will carry the weight of lock too.

[coral pike]

you get 2x weight on revdis if your locked 12 months so if you haev 100 ILV you get paid as if you have 200 ILV

[keen summit]

Oh. That does make a difference

[worthy peak]

are you sure revdis is affected by weights? I thought not, but not sure 100%

[coral pike]

100% its the only thing weight is for

[keen summit]

That made locked look a lot better

[worthy peak]

weight was for the farming pools i thought🤔 need to re-read the tokenomiks article

[atomic lagoon]

You might want to check this out.

https://youtu.be/8PmUfJWEI-g

[coral pike]

Yes with Yeid farming You get Yeild rewards+ Revedis on ILV tokens they are sepreate

[vague pond]

Is there a downside to sushi lp staking? Why don’t more people stake there for the higher apy?

[thin rapids]

So if I stake all my ilv for one year on for sILV I can not claim them right and that means I have tk wait a whole year to claim sILV and then maybe I can use sILV in game

[cunning perch]

https://academy.binance.com/en/articles/impermanent-loss-explained

[coral pike]

added to that you claim right now you have to pay 2x GAS

@keen summit @vague pond this has some good info
https://www.publish0x.com/ilvfi/the-ultimate-faq-illuvium-slp-liquidity-pool-staking-xrnxvzo

[coral pike]

No If you stake ILV in the core pool/ SLP pool for 1 year you cannot withdraw you stake for 1 year

you will then have 2 options when claiming rewards every time you claim though out the year
1 - Claim ILV - this automatically vest you reward for 12 months at 2x weight
2 Claim sIlv - this has no vesting period and is available right away but currently has Official use supported by the DAO except in the upcoming land sale in which 1 sIlv = the current Value of 1 ILV

[thin rapids]

Got it cheers mate

I have ILV at the moment what are the other methods tk give SILV as I want it to use in game
If I dont want to stake

[worthy peak]

sell ILV, buy sILV i suppose🤔

[thin rapids]

And where can I do that

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

[thin rapids]

Yeah i want it for in game
As I dont want to stake

[coral pike]

that is why i posted the information

[thin rapids]

Thanks bro

And what is alluvium survivor or rangers

[gritty ravine]

what is the current gas fee for staking in the slp pool?

[thin rapids]

U can check it on

[coral pike]

youcan see here https://ethgas.watch/

[thin rapids]

There website

[coral pike]

badges you can get for being active in the community - no benefit connected to them as of yet other than acessing some discord stuff i belive

[thin rapids]

Ooo nais
Like there is no level system?

[coral pike]

Please ask any question not relatedto staking in #814313779696238642

[gritty ravine]

if i stake slp i that would cost me 330$ in gas fees? that seems too much, maybe the calculator i'm using is wrong

[flint nimbus]

O stake for a 1 year locked

[coral pike]

gas could be very high i think it cost me some were just over $200

[gritty ravine]

0 gas fee for 1 year locked? is this true?

[flint nimbus]

Its automatic the claim of ilv?

[coral pike]

no

[coral pike]

no you need to calim ILV pool is 1 x gas Slp pool is 2x gas

[keen summit]

Watching a video made me think ILV may be better than Sushi LP because of Redish. If I am going to invest $10k USD worth of crypto, if I went with ILV, I would stake close to 7 ILV coins. and if I did Sushi LP, it would be half that many ILV coins. You get paid Redish based on how many ILV you have staked. Staking ILV only may pay more. Thoughts?

[coral pike]

did you read that article i posted earlier

[keen summit]

I watched this: https://www.youtube.com/watch?v=8PmUfJWEI-g

[coral pike]

read this to #🥩〕staking message

[gritty ravine]

so if i want my gas fees to be less than 10% of my investment, then i would have to invest more than 3000$, that's just out of reach for me lol

[proper ingot]

Check how fast and often gas cost fluctuates. I staked this morning for a little under $60 in gas (STAKING ONLY). Additinal transactions will have fees also tho

[atomic lagoon]

You can always just buy ILV and save as much as you can afford. Let the price go up to 10k and take profit 🙂

[keen summit]

I am getting conflicting information about APY in SLP. Someone here said you only get APY on ILV part, but the article I am reading says: "You earn rewards based on the total current value of your SLP, both the ETH and ILV portion."

[delicate cloak]

You only get revenue distribution based on ILV. Staking rewards come from your whole stake whether that's just ILV or SLP (ILV+ETH)

[keen summit]

I get it. The key word is "based on". The APY is still applied to full amount invested. Thanks.

[delicate cloak]

Yeah APY can be deceptive. There's pinned calculators here. I like Lelahel's because it focuses on tokens yielded not APY. That's what I care about. How many tokens I'll have in 1 and 3 years.

[worthy peak]

yeah, you are right, the tokenomics article says "This weighting affects both Yield Farming Rewards and Vault Distributions."

[worthy peak]

I think there is really no difference. Say we have 100 ILV for distribution, we put 20 to the ILV pool, and we put 80 to the SLP pool. All guys in SLP have half in ILV and half in ETH, so it really doesn't matter if ETH part is considered or not, because it is always half this half that for everyone. What matters is your weight, which you can raise by throwing in more and also locking.

[coral pike]

there are diiffernt % for each pool

[worthy peak]

yep, 20 for ILV pool, 80 for SLP

[delicate cloak]

Great point 👍

I was more referring back to the question about APY. I was just clarifying that APY is for staking and the RevDis is what's "only" for ILV.

[timber birch]

does anyone know what is the fee for buying ILV using binance?

[atomic lagoon]

very very small... around 0.001 ILV per ILV

[delicate cloak]

Withdrawal was 0.032 I think last time I did it

[worthy peak]

buying is peanuts on CEXes, but you pay some % when withdrawing

[timber birch]

Sorry if this is a dumb question, but I'm quite new to all of this.
How will the solo adventure mode in the game work? How much ILV can you gain just from playing solo? I guess it will depend on the quality of the illuvials you own, but what would the average ILV per hour be?

[livid light]

@timber birch most of that is unknown at this time not knowing the price of fuel or the value of Illuvials. So no idea 🙂

[atomic lagoon]

also you will not earn in ILV. selling illuvials is with ETH.

[proper ingot]

As far as I understand that would be 0 exactly

[worthy peak]

market will decide

[timber birch]

is it possible to get illuvials in any other way besides buying them with ILV?

[atomic lagoon]

you can catch them from open world. I would suggest that you watch the youtube videos in #🎨〕community-content . that will help you explain better.

[worthy peak]

you can catch them in game, or buy on the market

[timber birch]

ok, i understand. also, can someone explain what exactly is staking? If i understood it correctly, you get passive income in ILV based on how well the games does. Is that it or am I missing something

[atomic lagoon]

please do watch the youtube videos. You will learn so much better. Volkin. Furry Hippo, Vetemor, Chris all good channels

[timber birch]

ok thanks

[worthy peak]

and read from #❓〕faq

[gritty ravine]

So why would i buy ILV on sushy if the gas fee is 60$ compared to 1$ od Binance?

[atomic lagoon]

that's why I buy from binance. But not every country can buy from binance. Example US, Singapore.. etc

[keen summit]

Is there a calculator that where I can type in the amount I am going to invest that shows what my daily payment will be? Someone said there was something pinned, but I do not see it. Thanks.

[atomic lagoon]

have you tried this one by Lelahel
https://docs.google.com/spreadsheets/d/1z2co3pS7Yq9Hc86t705tU__d-vGuRp6iTTvHta9gOXE/edit#gid=1097421284

[bronze sorrel]

Hi guys can I just check whether I can transfer my ilv tokens from kucoin to metamask then it will automatically be able to use to stake on the website?

[atomic lagoon]

when you have ILV in your Metamask, you can stake on the website.
Please watch this video if you haven't. It will help
https://www.youtube.com/watch?v=C6YugU4zZr4&t=894s

[bronze sorrel]

Thank u Kuki!!😊

[gritty ravine]

is there any way to avoid the staking gas fee, like there is for buying gas fee?

[atomic lagoon]

Unfortunately No.

But i do recommend watching as much tutorial video on youtube as you can before staking so that you won't make mistake and cost unnecessary gas. because i had my fair share of mistakes already.

[brisk surge]

The best thing to do is wait for cheaper gas prices then what it is currently.

[gritty ravine]

the staking fee is fixed, for any amount staked right?

[timber birch]

@atomic lagoon did you stake? also, does gas fee change depending on how much IVL u stake?

[atomic lagoon]

the gas fee is not fixed. so on the website you will see gwei. you want to wait for it to be lower than 85. the lower the better.

[gritty ravine]

as in i would pay 60$ in gas fees if i invested 1000$ or 100$ if it's in the same time period (same gwei)

[atomic lagoon]

yes I do. No the gas fee doesn't depend on your stake amount. it depends on how busy the ETH network is.
check the gas gwei in the photo. go for lower than 85. you will just have to wait for it to be lower. no other way.
@gritty ravine I think i answer your question here.

[bronze sorrel]

Can I not use sushi swap to get ilv tokens? I already have ilv tokens in my kucoin account. Can I just transfer my ilv tokens from kucoin to metamask and have it ready to be staked. All the tutorials I see, they teach to get ilv tokens by swapping eth for ilv on sushi swap

[gritty ravine]

yes, thank you

[cunning perch]

gas won't matter. It will be the same for any amount of $ you are investing

[atomic lagoon]

you can also check out this to see how gwei would translate to what gas fee.
https://etherscan.io/gastracker

[cunning perch]

You can buy from KiCoin/Crypto.com or Binance as well

[worthy peak]

tutorials were made before ILV was listed on CEXes, it was available only in pools then

[timber birch]

so how much fee would you pay on low gas price, i.e 85?

[gritty ravine]

https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit#gid=0

[cunning perch]

85 Gwei for a simple stake/withdraw would mean something between $60-120

[atomic lagoon]

you can check this out made by Vetemor on gwei 80
https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit#gid=0

[timber birch]

@atomic lagoon @cunning perch thanks

[past falcon]

You might want to read this, too: https://www.publish0x.com/ilvfi/apy-is-dumb-what-really-matters-in-staking-with-illuvium-xrnxpmz

[potent jewel]

can u use a trezor wallet to stake ilv ?

[cunning perch]

if connected to MetaMask, then yes. (watch out for DMs. They are scams)

[potent jewel]

yup 2 guys dm'd me right away xd

[cunning perch]

if they still haven't blocked you, Send their full ID in #🚨❗〕report-scammers (the long one)

[potent jewel]

i've reported them for spam as soon as i saw ur message

[white plover]

please help, i seem to have trouble everytime i want to claim rewards, and pay for extra eth contracts . i have ilv and slp rewatds to claim so you need to do both. you push claim rewards on ilv, and then do you push claim rewards on slp straight away or wait? last night i paid three contracts , thats lots gas! or do you just push claim ilv and the second claim happens automatically, just click the metamask confim contract box when it pops up?

if then want to withdraw some unvested slp, do i then go to it and straight away withdraw, once i waited for the two claimed rewards a few minutes later i went to withdraw theunvested tokens and a few rewards had already accumulated, it said i need to claim rewards first! which would have cost another 180 usd!, thanks anyone

[cunning perch]

Check this maybe it’ll help you #🥩〕staking message

[white plover]

ok thanks so always just push claim slp rewards and both happen automatically, and then if i want to withdraw unvested slp, go straight there and push withdraw once i confirm the two claim transactions

[cunning perch]

Pressing withdraw SLP should claim both pools with 2 gas. V2 will fix this issue after being implemented

[gloomy gazelle]

If you want to withdraw just press withdraw. Don’t claim first. It will create claims as part of the withdrawal process

[white plover]

Ok thanks

[vague ingot]

what is the current gaz fee to stake rn? im interested to stake in the sushi LP, with 300$ worth of eth and 300 worth of ilv, is it worth?

[haughty canopy]

Anyone know roughly good times to transfer to minimize gas fees?

[worthy peak]

usually several hours on saturdays and sundays

it was 50+ today for a while

[timber birch]

what do you think is better for a 600e stake, ilv or slp pool?

[gritty ravine]

that is 600€

[mystic thorn]

I would say slp is always the way to go because of the apy but you always have to take it to account the gas fees

[delicate plaza]

Do we have any rough estimates on V2? Like next month? a few months? a year?

[cunning perch]

The proposal should come out soon and the implementation should be in Dec-Jan

[delicate plaza]

Awesome thanks!

[silent cedar]

And IL

[mystic thorn]

Well IL is not a big deal if you think about it because if you never take the slp out and just let it earn apy for you, you’ll never have to worry about IL

[silent cedar]

I see what you are saying. But having less ILV in there means less revdis as well. Staking ILV pool, you can't lose ILV. Staking in SLP you can. I think it is still important to understand IL before making the choice.

[mystic thorn]

Oh yes agreed and for rev dis you will make that much ilv that was used for your etherium in a matter of half a month. Just based on the fact that slp apy is huge right now

[silent cedar]

Yah I'm waiting for a gas dip to get some more sushi LP, I'm an SLP fan all the way. Gas is spiking rn ?

[mystic thorn]

Yes it is

[timber birch]

i am concerned that slp might not be the best for me because i only have 600e to invest so the gas will take a good chunk of that out. @mystic thorn @silent cedar what do you guys think, slp or ilv in this case?

[rancid quest]

Hi, new here and just looking to clear something up: Revenue distribution will be equally distributed across all of the staking pools, correct? So the only benefit to staking slp over ilv is for yield tokens, there is no correlation between the amount of revdis you’ll receive and where you decide to stake? Apologies if this has already been asked a million times lol

[silent cedar]

Have you checked out the pinned calculator? You gotta sort it out for yourself, regardless I always patiently wait for gas to drop. Set yourself a bar and don't do anything until gas goes below the bar.

[silent cedar]

Revdis is proportional to your ILV stake, not where it is staked. SLP has way higher reward yield RN so you would theoretically have more ILV rewards to increase your stake.

[rancid quest]

Great, thanks for the clarification!

[cyan rampart]

Also worth noting that only the ILV portion of your SLP stake receives revdis. So 50% of the stake by value.

[mystic thorn]

The good thing about gas is it is extremely volatile meaning it gonna drop hard sometimes and when it does that you can buy it extremely cheap you just have to be patient but IMO worth it in the long run

[muted spruce]

Can someone explain me why i have to pay ~320€ gas fees for ILV Staking? That Looks incredible high to me.

[brisk surge]

gwei is at over 200 right now so thats pretty high. usually people aim for 60-80 gwei for doing staking transactions.

[livid light]

Gas is SUPER high right now I would wait till around 100 gwei honestly

[versed coral]

The highest Gas I have seen was 1500, anybody has seen something higher yet? 😂

[brazen egret]

200? Holy

[brazen egret]

Lol i had $700 once

[unkempt oak]

@cunning perch I’m having issues claiming my slp rewards. I have slp and Ilv rewards. When I select claim Ilv button next to the slp pool it will claim my rewards from the the Ilv pool but not from the slp pool. Is this happening to anyone else?

[gentle valley]

@worn turtle can we have a PM for a support query I have

[muted spruce]

Maybe you dont have enough ETH left to pay the gas fee?

[cunning perch]

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

[gentle valley]

@brisk surge if your on can I have a PM with you please

[cunning perch]

Just banned him thx for tagging him

[gentle valley]

Huh? I didnt tag anyone I dont know what your talking about lol

[cunning perch]

Compare the names

[coral pike]

LOL why out of all the mods do the scammers always pick you 😆

[unkempt oak]

Thanks I will read that.

[cunning perch]

Well....what can I say. They love my charms lol

[gentle valley]

Hahaha can we have a PM please

[cunning perch]

You ask your questions here and if I can I'll use Bot Commands to help you further.

[coral pike]

yes but ..what do they have ??? LOL

[cunning perch]

They have one thing: No shame

[gentle valley]

its about how many ILV I have been receiving as a staker in ILV/ETH nothing to do with any commands I been here for a long time dude

[cunning perch]

Sure no worries. 👍

[unkempt oak]

!rank

Dang why is eth gas so expensive right now

[brisk surge]

In the future please use #👑〕bot-commands for this.

[unkempt oak]

Sorry will do

[unkempt oak]

Gas fees are so high right now

[brisk surge]

probably a lot of people trading on the ETH pump. Its way higher than normal for a sunday.

[cunning perch]

Guys watch out for DMs. They are scams and they impersonate ppl. Here's how to find out you are being scammed:

1). The Suffix (Illuvimod) and (Illuvium) are server based. Means they do not show in DMs. So if anyone like ( Arash | Illuvimod) DMed you, it's scam.

2. Also, most of our names are white listed. Meaning if anyone uses our names for their profile, they will be banned by bots. This means, there is always an inconsistency with the names.

3. For God sake click on the names and compare. Everyone has a unique ID.

4. Turn off your DMs so you wouldn't come to us saying you've been scammed.

5. Illuvium’s website is with (.io) not (.com)

6. Keep in mind scammers also use colored dots in their description to impersonate mods

7. they will always send you screenshots of mod’s profiles to fool you so you wouldn't click on names

If you still get scammed, then please blame it on yourself.

[haughty canopy]

Is there any way to easily estimate how much gas it costs to combine ETH + ILV into SLP + then stake the SLP tokens?

[worn turtle]

for sure

[cunning perch]

I don't think so. It all depends on the current Gwei.

[haughty canopy]

If it says this, is it because the price of ETH or ILV changed to much while waiting for the transaction to go through or something? "Fail with error 'UniswapV2Router: INSUFFICIENT_A_AMOUNT" I followed the tutorial. Or could this be related to not enough gas?

First time doing trying to combine using Sushiswap, and I think I lost the gas from the failed transaction, right? I'm trying to figure out why it failed though, and what I need to do differently. I'm using Metamask and trying to follow the tutorial very closely. The only thing I didn't do was manually set the gas for the transaction. I just let Metamask select the gas amount. Could it have just been too slow to go through or something? Shifting ETH/ILV prices causing it to fail?

[tacit timber]

I staked my ILV to the 17 Nov - if i dont do anything do they continue to be staked and earn?

[haughty canopy]

You'll need to claim rewards to compound them I believe. But costs gas fees

It says the gas is going to cost about $110 is it actually way more than that or something? what do I need to do to make it succeed? I don't want to waste another set of gas fees with another failed transaction. This staking experience has been very frustrating

[haughty canopy]

Yeah, I believe the problem was slippage and a slower transaction rate, with fluctuating ETH price going up so fast.

I got it to go through this time

[gentle valley]

Its ok man it was sorted by Arash 👍

[scarlet pumice]

Watch the gas prices, kids...I FOMOed at first, so did the uncomfortable thing and made an account of all the gas fees spent on buying and staking Illuvium and $ILV. About $1G total in gas.

Was it worth it? Hell to the yeah! But seriously, watch the gas prices.

[brazen egret]

Don't remind me.. i have probs spent almost 5k on gas fees just on Illuvium. Well worth it though

[jovial root]

Yeah I'm around this also

[brazen egret]

But the rewards far outweigh the gas fees

[jovial root]

Yes, If I had claimed rewards as sILV and sold at the discounted price, then I would still be in front by a fair bit.

But I claimed as ILV and on paper, am in front a LOT

[scarlet pumice]

This is true. Had I been more patient and waited for Sunday, could've saved like 40% on gas, but I've already more than recouped fees with staking rewards.

[gloomy gazelle]

If you make a copy of this sheet you can estimate the gas fees you’ll experience

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

!staking the video below may prove helpful.

[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

[tidal charm]

Can someone help me ?? I have the SLP token.. Can not figure out how to break this token pair apart... Can someone guide me ???

[scarlet pumice]

I’ll get there eventually

[tidal charm]

@gloomy gazelle Can you help me break up this SLP token ?

[next ruin]

You'll need to have the token in your wallet (you'll need to withdraw if you had staked it), then you'll need to go to SushiSwap and remove liquidity - haven't done this myself, so don't know the exact steps.

[tidal charm]

@next ruin So to get it in my wallet i have to first claim the rewards and pay the crazy gas fees ??? After the rewards are claimed then i can transfer to Metamask and then to Sushi to remove liquidity ??

[next ruin]

Yeah, if it's staked you will have to withdraw it first. Make sure you start with the withdraw, the reward claim will be prompted automatically. If you claim first and then withdraw you'll probably have to claim some additional rewards "dust."

[gloomy gazelle]

If you want to withdraw just click withdraw.

[tidal charm]

@next ruin when do you plan on doing it ??? Do you have the SLP token. I set out to stake ILV and i ended up with this SLP instead. What amess

[gloomy gazelle]

Lol if you have SLP definitely stake that.

The apy is way higher. like 10x

!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

[next ruin]

I have SLP locked up for many months yet. Those earnings are too good.

[tidal charm]

@next ruin can i dm you ?

@gloomy gazelle can i send you a screen shot through dm ?

[gloomy gazelle]

Sure

[gloomy gazelle]

Do NOT trust people that DM you first. Even if it looks like me. It’s not me

!scam

[woven ibex]

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

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

[tidal charm]

@gloomy gazelle got yeah

[pine geyser]

when is the optimal time to claim rewards. I have 0.12 ILV rewards right now. i dont know what to do, care to give some advice? 🙂

[fading kettle]

When do you guys think staking v2 is coming? I have SLP tokens that will unlock mid dec that i want to restake for 2x the weight

[cyan rampart]

I think this depends on how long the audit takes and whether there are things in the smart contracts that need fixing. For this reason I wouldn't be surprised if there isn't a timeline until the audit is completed.

That's just my opinion though.

[fading kettle]

That makes sense. Would you happen to know how long these audits usually take? In any case, if I dont get to restake it before v2, i'll just stake for 2 years to get the 2x weight Thanks for your reply!

[cyan rampart]

I don't know actually, I imagine it depends on the complexity of the contracts being audited.

[faint fox]

Hi guys i was about to start stacking in ILV pool, should i wait for the V2 to come out instead ?

[cyan rampart]

It's entirely up to you. There's no firm timeline on V2, aside from "ASAP pending audit etc etc.".

If it were me, at this point, I'd wait. NFA 🙂

[shrewd mesa]

Hey guys a question regarding staking v2:

Once we upgrade from v1 does the locked period of our investments reset or does it carry onwards eg if I currently have 6 months left on unlocking my deposit to staking will it then proceed again to start from 1 year or continue with only 6 months left in my vesting period

[brisk surge]

@elder dawn or @steady trellis Please, please, please, do a blog post or some kind of write up on the V2 staking proposal. I think its a little technical and will go over the heads of a lot of people. I would love to see some real data applied if possible and you guys have demonstrated that you are some of the best in the community at analyzing things from a purely technical level.

[steady trellis]

Even for me it is.. i'll have to re-read it in a more quiet time ahahah... But I am sure @elder dawn will work something out quickly and you can be sure @ripe steppe will do a video also on this, we are already discussing about it .... let's try to make this the clearest possible for everyone

[brisk surge]

haha ok im glad its not only me. I wasnt sure if ive had a couple too many beers already or if it was actually really confusing.

[faint fox]

even if i stack now, will the reward be interesting ? since v2 will be there soon the core pools will be replaced and i will have to pay additional gas fees ? (i'm a beginner so maybe my assumptions are totally wrong)

[cyan rampart]

One of the primary purposes of staking V2 is to reduce gas fees for staking and claiming. That's why I'd wait. A locked stake in V1 will remain in V2, have to be upgraded to V2, and eventually you may also want to migrate it to V2.

There are calculators pinned in this channel if you're interested in figuring out how many rewards your stake might generate.

[faint fox]

okay i get it thank you 🙂

[gloomy gazelle]

It’s your call. But your gas fees to claim the rewards should be a small percentage (1%-5% or less) of the value of the rewards you are claiming. Otherwise you are wasting ETH that could be used to buy more ILV.

[gloomy gazelle]

It actually indicates that you can’t migrate the actual deposits until after they are unlocked. The timeline on locked deposits doesn’t change. But the rewards will be able to be claimed using v2. And the unlock timeline of rewards doesn’t change either.

[sacred cosmos]

So, I need a bit of clarification here... It says theres a 2 week window before V2 will begin generating yield. What does this mean for locked stakers? Is the window a set date where everyone needs to upgrade to V2 or is this based on when your tokens unlock? Meaning if my tokens unlock on say Jan 1 thats the only time I can upgrade it to V2 then another set of tokens unlick March 1 then those tokens gets another 2 week window to upgrade to V2?

[vapid summit]

Happy new staker here! 😃 Excited to join this project!!

[cyan rampart]

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

[sour loom]

Hi everyone, i staked my illuvium, any chance can i partecipate in the closed beta?

[cyan rampart]

Beta access almost certainly won't have anything to do with whether you're staked or not.

Don't let that be a factor in whether you decide to stake 🙂

!beta

[woven ibex]

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

[sour loom]

Nono ahha, ok thks

[kind root]

i was wondering can i stake illuvium with two different wallet account?

im using metamask, and i have stake with on of my account.
i want to use another account in my metamask to make another staking, is that possible

[faint fox]

do you guys know a complete and relevant stacking explanation yt video ? thanks

[gloomy gazelle]

!staking

[woven ibex]

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

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

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

[gloomy gazelle]

This one is good. Maybe not everything new. But super solid how to.

[cunning perch]

It doesn't reset. Upgrade means V2 will read your V1 as it is stake on V2

[cunning perch]

When they pause it, everyone needs to upgrade. If they don't after two weeks, they won't get rewards.

[sacred cosmos]

So even if Im locked I can upgrade? Always thought I would need it to unlock for me to upgrade

[cunning perch]

Locked tokens must upgrade
Unlocked tkens CAN migrate (they don't have to if they have upgraded but will def oaybway cheaper gas if they migrate)

Guys watch out for DMs. They are scams and they impersonate ppl. Here's how to find out you are being scammed:

1). The Suffix (Illuvimod) and (Illuvium) are server based. Means they do not show in DMs. So if anyone like ( Arash | Illuvimod) DMed you, it's scam.

2. Also, most of our names are white listed. Meaning if anyone uses our names for their profile, they will be banned by bots. This means, there is always an inconsistency with the names.

3. For God sake click on the names and compare. Everyone has a unique ID.

4. Turn off your DMs so you wouldn't come to us saying you've been scammed.

5. Illuvium’s website is with (.io) not (.com)

6. Keep in mind scammers also use colored dots in their description to impersonate mods

7. they will always send you screenshots of mod’s profiles to fool you so you wouldn't click on names

If you still get scammed, then please blame it on yourself.

[sacred cosmos]

Thanks! That clears it.

[cunning perch]

Anytime brother 😄

[left shore]

@cunning perch will i have to pay gas to go from V1 to V2? For each pending ILVrewards ?

[cunning perch]

You will have to upgrade each stake (not rewards) and yeah you gotta pay gas

[left shore]

Ok so i ll pay 1x for my staked ilv and 1x for my staked SLp

[cunning perch]

It should be like that yeah. Your rewards are not tokens yet.

[left shore]

Ok, any date set for when we’ll have to do it?

[cunning perch]

Not sure yet. But I guess it should happen alert council approves it. (maybe 2 weeks? End if Year?) idk

[left shore]

And lets say i dont upgrade from V1 to V2. What happens to my ILV tokens?

[cunning perch]

You don't get rewards. Easy 🙂 (and RevDis)

[left shore]

And the tokens are then unlocked?

[cunning perch]

Nope. Read this #🥩〕staking message

[left shore]

Asking because i have staked ilv at different times, so i have a shitload of things to upgrade…

[cunning perch]

Yep. It'll be worth it as you don't have to claim both pool each time you wanna claim SLP and you won't have to claim if you are staking more it withdrawing and also you get RevDis and a two week bonus

[strong forge]

If I put 40k in liquidity pool how much illuvium will I make a day?

[cunning perch]

you can check with the calculators pinned in the channel

[strong forge]

Where is that

[brisk surge]

I would suggest https://cooper1903.shinyapps.io/stakingyield/ and it's the pinned messages

[strong forge]

What is this

[brisk surge]

It allows you to estimate the calculation on LP or ILV single stake

[pine pawn]

Is there any analysis comparing performance of ilv staking vs slp staking?

[cunning perch]

calculators in punned messages (and watch out for scam DMs)

[gloomy gazelle]

The protocol tells you the APY as well

[strong forge]

How do we know what’s a scam

[gloomy gazelle]

If it’s a dm. It’s a scam

[strong forge]

Is this is a scam?

[gloomy gazelle]

No. It’s not a dm.

It’s public.

[brisk surge]

No I have used this tool plenty of times if you check the pinned messages you can see that

[oak sable]

Is the idea behind the SLP, that even if you have 100% immutable loss, you are still getting a 400% APY, so 4x what you put in?

[gloomy gazelle]

Basically there are people on the discord that will try and send you DMs and they may claim to be support or even impersonate one of the mods and will try to convince you to follow a scammy link or share your keys with them.

[strong forge]

Ok that’s fair. Thank you. Ur dm was hilarious btw

[gloomy gazelle]

Kind of. But impermanent loss can actually go to 100%. And apy is variable. But yeah.

[gloomy gazelle]

https://tenor.com/view/eyebrows-wink-gif-5753057

[oak sable]

But as long as you don't sell the SLP, even if the impermanent loss goes to 100%, it will still be paying the APY on the original amount right? (or is this where my thinking is wrong)

[strong forge]

Would you guys do the sushi lp stake or the ilv

[gloomy gazelle]

Your SLP tokens will be worth what they are actually worth. And the apy is based on your percentage of the SLP staking pool.

SLP has higher rewards but higher fees.

[steel patio]

Regret ever locking & staking ILV, should have put all in SLP no questions asked.

[oak sable]

This is what I am thinking

[strong forge]

You would wish you put it in sushi lp?

[gloomy gazelle]

Yeah. But if you only have $1000 to invest and lose half to gas fees. What’s the point.

[oak sable]

Is there somewhere to see the sushi lp price and the price of sILV (if different than ILV)?

[steel patio]

Yeh if balance is low, then no.

[gloomy gazelle]

!contract

[woven ibex]

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

[strong forge]

I have 40k I want to deploy

[gloomy gazelle]

Use the contracts to search on etherscan. It will have the price

[strong forge]

What would be ur guys suggestion

[gloomy gazelle]

SLP then.

[steel patio]

$40K, SLP no questions asked if staking long term.

[strong forge]

Yea I would be locking it up for a year

[gloomy gazelle]

The rewards are worth the fees. Just lock for 12 months and claim when you have several ILV waiting.

[hidden solar]

Hi, I'm the existing staking participant. What is v2? Is there anything I need to do?

[steel patio]

Only other opportunity ATM is SILV & Land.

[strong forge]

Would you have any idea how much I would be getting a day of illuvium ?

[gloomy gazelle]

Not yet.

[hidden solar]

Thank you.

[steel patio]

Are you looking to do 40K total (as in $20K ETH/$20K ILV)?

[gloomy gazelle]

Just take the APY and divide it by 365

[strong forge]

Yes

[oak sable]

Let's say you create the SLP, then ETH goes to the moon and so impermanent loss is huge. At the end of 12 months, would you have about 400% back in terms of your starting value of ILV/ETH?

[gloomy gazelle]

No.

[oak sable]

In the form of sILV?

[gloomy gazelle]

!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.

[strong forge]

Wait what ? 487 divided by 365

[stray eagle]

Good morning, need to read by myself staking v2, but can someone tell me the highlights until I have more time please

[steel patio]

Impermanent loss is meaningless at current APY if staking for a year.

[gloomy gazelle]

That’s the percentage you be earning back daily.

[strong forge]

Oh I would be earning 1.3 percent a day?

[oak sable]

Right, this is the core of my question

[steel patio]

There are impermanent loss calculators to play with.

[strong forge]

Then what math would I do after 1.3… does anyone know

[gloomy gazelle]

Yeah.

[oak sable]

Even if impermanent loss is HUGE, at the current APY it is irrelevant.

[gloomy gazelle]

Times your deposit value

So $533 daily.

At current rate. Which will go down over time.

[strong forge]

If I put 40k in

[gloomy gazelle]

Yeah.

[steel patio]

The risk only comes from 1 coin crashing to ~0

[strong forge]

That is the sexiest thing I have ever heard

[oak sable]

But even if 1 coin crashes to 0, how would this impact the APY?

[strong forge]

I really hope this game does really well

[gloomy gazelle]

I wish I knew enough back when I locked my ILV to go for SLP instead.

[gloomy gazelle]

Lol we all do

[fluid glade]

so if I understand correctly, is it worth it more to wait for v2 now, if you dont have huge amount to stake? I read somewhere that it should happen in around 2 weeks

[gloomy gazelle]

https://tenor.com/view/ilv-illuvium-one-of-us-wolf-of-wall-street-gif-23354367

[oak sable]

Is there a guide for creating the sushi lp? (thanks for the discussion by the way, super helpful!)

[strong forge]

Wait v2?

[gloomy gazelle]

No. Not in two weeks from now.

[unique turtle]

Depends on when the conversion happened

[steel patio]

Well the $ value of everything would disappear.

[gloomy gazelle]

!staking

[woven ibex]

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

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

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

[gloomy gazelle]

!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

[mighty shoal]

is it uni swap or sushi swap to get buy Silv?

[low flicker]

So I had locked my ilv for a year what does the 19.6% signify?

[gloomy gazelle]

You’ll find sILV on uniswap

[gloomy gazelle]

ILV only pool gets 1 ILV as rewards for every 4 that go to the SLP pool.

[low flicker]

Ah so I'm still counted as 2.0 it's just that the apy is much lower for it.

[sonic wolf]

Higher TVL split less money in between

in double pool, less TVL split almost 80% of the rewards between each other

[gloomy gazelle]

The 20ish is the pool weight. The SLP pool weight is like 80ish

[steel patio]

Feel sorry for anyone who did the Silv->SLP recently

[subtle spruce]

@median canyon sorry Aaron, just wondering if I had my money stack in v1, can I move it to new wallet if I upgrade to v2 ? Or any chance I could move it ?

[low flicker]

Thank you for helping me understand lmao I was lost for a second.

[gloomy gazelle]

Yes. After it unlocks

[oak sable]

Why?

[steel patio]

Because SILV & ILV gap will close with Land sale.

[subtle spruce]

@gloomy gazelle so if I was locked for 1 year, I need to wait for 1 year end, that’s the time I could move it to other wallet ? Even if I upgrade to v2, was it still the same ?

[steel patio]

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

[gloomy gazelle]

Yeah

You can’t migrate locked deposits.

You just wait until they unlock.

[strong forge]

What’s the difference ?

[strong forge]

Is this what we get rewarded with ?

[delicate plaza]

Was there any word on migrating unlocked deposits to a new wallet? I'm looking to transfer everything to a ledger and do a new full year lock period. My locked stake is currently in the SLP pool and due to unlock soon - will it be best to remove the SLP tokens - send to ledger - then restake for 1year from the ledger under v2? Or will it be better to migrate/upgrade or something

[gloomy gazelle]

Probably would be better to migrate and switch wallets as part of that. And then restake on v2 for the full 12 months. Should save some gas that way.

But if your SLP is unlocked long enough before v2 launches. And it could earn enough. It may be worth pulling it and putting it in the ledger and back for 12 months before v2.

[gloomy gazelle]

It’s a timing thing for sure

Copy this sheet to help you estimate your potential staking fees. https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit?usp=sharing

[delicate plaza]

I unlock in a couple weeks

[devout sedge]

Can trade SILV at all? Like buy it or sell it?

[gloomy gazelle]

It would also depend how much ILV rewards you would get during the time it takes to get v2 up and running

[delicate plaza]

Thanks will look into it! So it could potentially be cheaper to migrate my current stake to V2 for a single gas fee? And then from there the whole unstaking process of claiming both pools and unstaking would be cheaper than doing it on v1?

[gloomy gazelle]

Yeah. It’s erc20. Unofficially there’s a pool on uniswap

[devout sedge]

Cool, thanks

[gloomy gazelle]

Yeah. Sounds right.

[low flicker]

@gloomy gazelle if I have unclaimed rewards is it more beneficial to wait for v2 in order to directly restake and save on gas fees?

[versed coral]

Is claiming the rewards from ILV and sILV in a 1:1 ratio? So if I have 10 IlV in pending rewards, would I get 10 sILV if I claimed them?

[gloomy gazelle]

It depends. If you’ve got 10ilv waiting to claim you will probably earn back the fee in a week or two. But if it’s not many pending rewards… waiting may be worth it

[gloomy gazelle]

Yes

!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.

[nocturne granite]

Thank you for this, I was trying to find where it says that it's 1:1 ILV to sILV, there's no explicit mention of it

[versed coral]

I am just wondering why you would claim sILV then if you have so much more value with ILV?

[gloomy gazelle]

!silv

[woven ibex]

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

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

[nocturne granite]

before today, it's because you can sell it (cheaper than ILV) > get SLP > re-stake

[brisk surge]

Why when I have staked my ILV it’s coming up on illuvium website as staked but on my MetaMask it says pending ?

[nocturne granite]

but with the land sale announcement, a lot of people seem to be accumulating sILV for the auction

[versed coral]

Where can I check the price of sILV ?

[nocturne granite]

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

so the tradeoff here is you are selling cheaper because it is not locked for another 12 months (like if you claim for ILV), and you want the APY of SLP

[versed coral]

I understand. I assume there is a spreadsheet on which it can be calculated as to which approach is more appealing? So whether to sell the sILV for more SLP to stake or whether to just claim ILV and have more rewards coming from that pool

[nocturne granite]

Yeah there is somewhere, there's a YT video with it but I dunno where it is

[versed coral]

Can you trade the sILV on uniswap or sushiswap then?

[nocturne granite]

on uniswap yes, but you have to manually add the token

[brisk surge]

Pool weight should be 80%/20% since there isnt currently a flash pool right?

[nocturne granite]

You can get the token contract from here https://etherscan.io/token/0x398aea1c9ceb7de800284bb399a15e0efe5a9ec2

[versed coral]

Thanks

[oak sable]

Will you be able to buy land with ILV and sILV?

[sonic wolf]

sILV and ETH only

[oak sable]

Out of curiosity, what is the main source of information about the landsale?

[sonic wolf]

discord

[atomic lagoon]

You can see in the iip proposal pinned in #🎮〕illuvium-zero

[timber birch]

can someone link a good youtube video where it explains step by step how to get slp and stake it

[atomic lagoon]

Have you watched this?

https://youtu.be/C6YugU4zZr4

[timber birch]

thanks

[exotic quarry]

cant you just transfer illuvium from an exchange like Binance to metamask then stake from there?

why do you need to buy ethereum first and then swap again for illuvium??

[atomic lagoon]

Yes you can for most of the countries . But not in US, Singapore and a few others. Also the staking tutorial was made before the coin is available on the exchanges.

[exotic quarry]

aaah okay I see. Thank you

[exotic quarry]

Metamask should accept Illuvium when you send it to the ethereum adress right..?

[atomic lagoon]

Correct. The token address are pinned in #💰〕token

[exotic quarry]

Okii thankss

[timber birch]

when i want to buy ilv on binance it says that it cannot be purchased with fiat currency, how do i buy it then

[atomic lagoon]

try here
https://www.binance.com/en/trade/ILV_USDT

[versed coral]

anyone has the spreadsheet available to calculate the earnings etc?

[timber birch]

so i can get ilv with usdt, or by trading it for eth on sushi swap. the latter is always better because i don't need to pay gas right?

[atomic lagoon]

you can check in the pinned message in the channel.
https://docs.google.com/spreadsheets/d/1z2co3pS7Yq9Hc86t705tU__d-vGuRp6iTTvHta9gOXE/edit#gid=1097421284

[versed coral]

Thanks, found it there 🙂

[atomic lagoon]

if you have USDT, you can buy with it in binance or you can also use USDT and swap it to ILV directly on sushiswap (you will have to pay gas here).

[timber birch]

i dont have USDT buy i can just buy it on binance, pay very low fee and then buy ILV, transfer it to metamask and stake it? that's the best way with minimal gas/fees, right?

[exotic quarry]

Yeah this is what I also wanted to do

Still waiting for some money to get into binance before I do that

[atomic lagoon]

That’s the best way that I know.

[exotic quarry]

Is there a way to 100% check if the transaction goes through without doing a low pay transaction first? Im always scared to do these new transactions lol

This is what I have rn

and then my MetaMask is an ethereum adress.. should work fine..?

[atomic lagoon]

Yeah. Just make sure the wallet address is correct and you choose the Ethereum networks. Then u should be good.
If you don’t mind about spending $30, you can send as a test with a minimum amount. XD

[exotic quarry]

yeah so only the ethereum one wil work. bsc doesnt work for illuvium

[atomic lagoon]

Correct

[exotic quarry]

yeahh true just dont want to spend too much fees xD. Already doing it with a kind of low amount

fk it. if it doesnt work ill just kms

[cunning perch]

Guys watch out for DMs. They are scams and they impersonate ppl. Here's how to find out you are being scammed:

1). The Suffix (Illuvimod) and (Illuvium) are server based. Means they do not show in DMs. So if anyone like ( Arash | Illuvimod) DMed you, it's scam.

2. Also, most of our names are white listed. Meaning if anyone uses our names for their profile, they will be banned by bots. This means, there is always an inconsistency with the names.

3. For God sake click on the names and compare. Everyone has a unique ID.

4. Turn off your DMs so you wouldn't come to us saying you've been scammed.

5. Illuvium’s website is with (.io) not (.com)

6. Keep in mind scammers also use colored dots in their description to impersonate mods

7. they will always send you screenshots of mod’s profiles to fool you so you wouldn't click on names

If you still get scammed, then please blame it on yourself.

[timber birch]

someone called nicole dickson DMed me and told me to use celo network, is this a scam

[cunning perch]

Yep.

[exotic quarry]

Have you tried this method already?

[timber birch]

not yet, but that's how i will do it

[exotic quarry]

yeah lmao

[cunning perch]

please report the full ID in #🚨❗〕report-scammers you too @exotic quarry thx guys. I'll ban them (full ID is 20 degit long)

[exotic quarry]

done 👍

[exotic quarry]

Yeahh me2

[gentle valley]

Guys I'm not receiving the amount I normally get per week from ILV/ETH pool has the mechanic changed? Considering the APR has been stable if not moving upward a little is there anyone who can help.

I do realise the drop per fortnight etc

[atomic lagoon]

How much % difference?

[vital frigate]

Maybe more people stake.

[royal solstice]

Could just be more staked in that pool, so your stake is a smaller percentage of the rewards going to stakers in that pool.

[vital frigate]

iirc someone said the reward drop 4% every 2weeks

[gentle valley]

About 10-15%

Have been in the pool for nearly 114 days and just noticed last few weeks a drop whilst the APR seemed to be rising

[gentle valley]

Having a look at Dune analytics does't seem to be the case looks like it although there was a big injection on the 25th

[bitter magnet]

Does Staking V2 give higher rewards?

[vital frigate]

No, just cheaper gas fee.

[timber birch]

how to stake with v2?

[bitter magnet]

Can I transfer from V1 to V2? Or do I need to restake

[cunning perch]

It's not implemented yet

[cunning perch]

Locked tokens will be required to upgrade to V2
Upon unlock (provoded you had upgraded to V2) , you can migrate to V2.
(watch out for DMs. All are scams)

Transferring tokens can take place upon unlock.

[golden crag]

Hi, I forgot how long I staked my ILV for... If I cant see a countdown then stake has finished and is unstaked?

[atomic lagoon]

this is definitely an awesome feature for those who got the wallet stolen. I remember someone asking about this a few days ago. Hope that person see this.

[cunning perch]

check the "vesting Section" (DMs are scams. Don't answer them)

[cunning perch]

Yeah def. But still their tokens need to be unlocked to be able to do that.

[atomic lagoon]

I see.. been reading through the iips.. I am going to wait for v2 to claim my rewards for land sale. Really nice proposal.

[cunning perch]

Yep. That def is 🙂

[golden crag]

Vesting section says the amount I staked at a weight of 1.23 and nothing under unlock...

[cunning perch]

What do you mean nothing under unlock? If in vesting section your tokens are unlocked, then there should be withdraw button. If not, it is still locked.

[golden crag]

Just a - under unlock. but there is a withdraw button. ok so they are unlocked. I will restake. thanks

[cunning perch]

No worries. (watch out for DMs. They are scams)

[storm whale]

Could someone please confirm... I locked my LP tokens up for 3 months and they are able to be withdrawn now. If I don't withdraw them, will they continue to earn rewards at the same weight? Or do I have to withdraw and then re-stake them?

[tight jay]

How should I decide whether to claim my rewards in ILV or sILV?

[worthy peak]

By knowing what you want to achieve, and how your decision will help in this.

[atomic lagoon]

If you want to play the game, most would go for silv to play and buy land. If you want to invest long term and get revDis, ILV is most likely the way to go. NFA

[clear cape]

how on earth is gas at 45-50