🥩〕staking

[sacred cosmos]

Shhhh... Let us enjoy the small wins lol

[brave marsh]

is it good idea to stake now for few rewards, or i should just wait for v2 ?

[timber birch]

when is the v2 coming out?

[brave marsh]

in about 2 weeks i guess.

[clear cape]

Roughly 2-3 weeks is the estimate, depends a lot on the audit.

[timber birch]

and do you know how much cheaper will gas be on v2

[cunning perch]

It's not 100% cheaper gas. The fact that you won't have to claim both pools all the time makes it worthwhile

[clever swan]

If I have unlocked slp stake collecting 1.3x but want to move it to locked 1 year for the 2x return, should I lock it in now or wait for v2? What would be difference?

[timber birch]

i'm planning to stake only in IVL pool, so there's no point for me to wait v2?

[cunning perch]

You should withdraw and then relock

[clever swan]

when? now or wait for v2?

[atomic lagoon]

I would recommend reading the iip proposal for v2 in the pinned post guys. Definitely worth reading. @timber birch @clever swan

[clever swan]

I read it but it's not clear on what someone in my position should do.

[cunning perch]

if you stake now, when V2 is out, you again have to upgrade to V2

[sacred cosmos]

Needs to get passed by the council too

[cunning perch]

if you unstake now and restake, when V2 is out, you should upgrade again. It's your choice really

[clever swan]

so the upgrade involves gas fees?

[cunning perch]

def

[timber birch]

do i HAVE to upgrade or is it optional

[atomic lagoon]

2 weeks worth of rewards might be worth it, even if you have to pay more $100 or so in gas fee.

[cunning perch]

It is a necessity. Migration is not.

[clever swan]

damn 😅 . I'm assuming the 2 year stake for 2x has been nixed though?

[cunning perch]

no it's just 1 year now. 2 year lock has been rejected

[clever swan]

ok, so for unlocked ppl like me that want to lock stake it's just a question of losing some reward as @atomic lagoon points out vs gas fees if we should unstake and restake now or after v2.

[spice kernel]

im new, what is staking? kekek

[brave marsh]

i think its better off holding the ilv and then staking once v2 is out.

[clever swan]

Thanks for being helpful as always Arash, appreciate it 👍

[cunning perch]

Anytime brother 🙂

[cunning perch]

read this #809220563397902346 message

[exotic quarry]

Heey anyone here tried to send Illuvium directly to MetaMask by ERC20 ethereum adress?

[storm whale]

So when your staked LP is unlocked, it will keep earned rewards at the weight for which it was staked?

[timber birch]

"All Staking v1 users are considered early adopters of ILV, so we'd like to reward them in v2." I've got this from the official v2 document
So staking before the v2 comes out is good?

[cunning perch]

you can def send ILV to ETH address on MM. ILV is ERC-20 token. Make sure you add to token address to your MM first

[exotic quarry]

Yep, so I just transfered it. This is the adress of ILV on my MM wallet: 0x767fe9edc9e0df98e07454847909b5e959d7ca0e

[cunning perch]

It's your choice. If you stake now, you will have to upgrade again (pay gas). If you stake on V2, you just pay the approval stake fees no need to upgrade or migrate

[silent arrow]

hey !

some question about the new version of the v2 that just have been posted.

• if I understand correctly in this new version V1 locked slp will be able to migrate to v2 (that wasn t the case in the previous draft) ?

[exotic quarry]

It says I have to wait 12 hours. Is that a lot to wait for ILV?

[cunning perch]

You can find ILV addressed in pinned messages. Personally don't memorize it 🙂

[cunning perch]

12 hours to transfer from CEX to MM?

[exotic quarry]

Yeah from Binance to MM..

[cunning perch]

Locked tokens have to upgrade to V2
unlocked tokens CAN (don't have to) migrate to V2 if they have been upgraded before

[sonic lotus]

Regarding claiming rewards in V1, if i'm staked in both pools will there be two tx fees to claim slp rewards?

[cunning perch]

It should take seconds. unless there is traffic.

[exotic quarry]

0/12 confirmations. Uhhh

[cunning perch]

if you upgrade to V2, no. If you are on V1, yes

[cunning perch]

wait for it. Have patience

[timber birch]

do you know how much will the upgrade gas cost?

[cunning perch]

depends on the gas the day you wanna upgrade

[exotic quarry]

oh wait I just recieved it in my MetaMask. Idk why it says 12 hours on Binance.. weird

[cunning perch]

Told ya

[void bronze]

is there a way to use my staking ILV to convert to sILV to buy land?

[exotic quarry]

pffff tyy.. I always get a heart attack when doing this shit lmfao

[cunning perch]

maybe using MM swap, but not sure. If not, you should turn it to ETH and then Swap it on Uniswap

[silent arrow]

ok thx, because on the previous draft it was saying "we have to wait till they unlock before being able to migrate, and the v2 will read what is staked in v1"

that bring my 2nd question, I wanna move my loked slp and locked ilv to a trezor (atm it is in MM)

it says in this last draft that V1 lock cannot change, but if I migrate to v2, and then ask for adress change is it possible ?*

[scenic crescent]

trade it on uniswap

[exotic quarry]

now on to staking we go

[bright salmon]

You should always test it with small amount the 1st time for the good of your hearth 😄

[void bronze]

But i already Lock my staking though.. still able to use it?

[cunning perch]

wallet change is only possible for unlocked tokens.

[exotic quarry]

Yeahhh facts but Im greedy with the fees XD

[silent arrow]

ok aww :/

[sonic lotus]

alright I'll prob wait for V2 and then claim my current rewards as sILV and then start stacking ILV again.

Appreciate it Arash, you working OT today hahah

[cunning perch]

if you have sILV in your wallet, you can swap with ETH.

[exotic quarry]

wouldve just kms if it didnt work so win win

[cunning perch]

No worries brother. Happy to help 🙂

[void bronze]

my only sILV is the staking reward. but my current ILV that is staking is locked for 12 months. So am i still able to use my staking ILV that has already locked for 12 month to convert to sILV and buy land ? haha

[cunning perch]

stakes on V1 will always be on V1. When you upgrade, V2 will read V1 like they have been staked on V2. but they are acually locked on V1, so you will have to wait, migrate and then change the wallet

[cunning perch]

you can claim sILV, and use it for land. ILV is not used anywhere

[void bronze]

Isn't the claiming of sILV is for the reward from the staking? what i meant was to use my staking ILV to convert to sILV not the reward part..

[cunning perch]

if your ILV is locked you cannot touch it.

[silent arrow]

ok got it, so it s what I thought, no change on the old contract, it is locked in it, so nothings else to do except wait the unlock to transfer it to trezor.

do you know if the "migrate" process will also claim, or if we have to claim after the migrate to save fees, or if it will require to claim before migrate ?

[cunning perch]

yep. make sure you upgrade. Cuz if you don't upgrade, after the 2 week halt, V1 will not receive rewards

[cunning perch]

Migrate yes. It will claim. Upgrade, no

[silent arrow]

yep, I ve read it in the draft 😉

thx alot @cunning perch everything s more clear 😉

[cunning perch]

Anytime 🙂 happy to help

[sturdy crown]

What exchange are you staking ILV?

[cunning perch]

!staking

[woven ibex]

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

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

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

[cunning perch]

you can only do it here 👆

[sturdy crown]

Thanks for the info

[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.

[cunning perch]

No worries. Also read above just to be sure 👆

[atomic lagoon]

I like the last sentence. "if you still get scammed, then please blame it on yourself" " XD

[cunning perch]

yeah. I had to. For my own sake 😄

[silent arrow]

sorry for all these questions xD
so now I ve understood the difference between migrate and upgrade, so for the locked one we will get an option to "upgrade", but not to migrate.
so it reads the v1 ect ...

what will happend to these when they will unlock, will we have to "migrate" them or because we already "upgrade to v2" when it will unlock it will be auto migrated

not sure if my question is clear :/*

[cunning perch]

Unlock means you have the option to migrate. If you had upgraded before, you don't have to migrate, but it is in your interest to do if you want even cheaper gas

[silent arrow]

aww it make it unclear now in my mind really sorry.
when it will be out, I will be able to upgrade to v2 the locked token.
when it will be unloked, then I ll have the option to migrate.

until here ok.

at the moment we "upgrade to v2" the locked token will we be claiming the reward in v2 with the discount on gas, the possibility to claim only one ?
or this will only be possible when it unlock ? (meaning I would still have to claim both pool during my 280days still ?)

[cunning perch]

The former. Upgrade means the V2 contract reads your V1 as if it is staked on V2 and you will benefit from it.

[silent arrow]

I have most of my staked slp locked for a long time at 2.0 weight, with you re answer I understodd now how it will go.

I have one little 0.4 slp that at the moment I staked it I was not sure If I would need the money so I stacked it for a shorter time.
it will unlock soon see picture.

will the migrate process will be "for the whole adress"
or will it be for each stake (I have stacked 3 time different amount at 2.0 and 1 time this at 1.19 weight)

[cunning perch]

When it's unlocked and you have also upgraded it, you can decide whether you wanna migrate to keep it there

Migration will be per stake afaik

[molten badger]

I'm in the same position. Not sure if I should claim my rewards and restake or wait for staking v2. Saw ur answer in general - thanks!

[mint dock]

Hello all! I was wondering, if I wanted to stake one whole ILV with no intentions of pulling it or any amount of it out anytime soon, what would be the best way to go about doing that for greatest apy?

[cunning perch]

Hey. I suggest using the pinned calculator, read about V2 in #809220563397902346 and the following docs to get a good answer

[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

[mint dock]

Thank you!

[cunning perch]

@mint dock also all DMs are scams. Don't answer them

[mint dock]

Thanks for the heads up!

[gritty ravine]

Will there be any aditional fees for transitioning into staking v2?

[cunning perch]

Yes. (watch out for DMs. They are scams)

[silent arrow]

what will happend for the ilv rewards ? assuming I have claimed already 15 times they all have a different unlock time in vesting.
will we have also to process an upgrade one by one on these ? or the upgrade migration are only for the stacking part not the reward claimed ?

[cunning perch]

Rewards will be on V2 after upgrade cuz they are not tokens yet (afaik)

[gritty ravine]

is there a calculator for v2 aditional fees

[cunning perch]

There is no calculator for V2 cuz it hasn't been implemented yet

[gritty ravine]

Do you have any estimate on how much the fee will be?

[cunning perch]

It all depends on gas the day you sanna upgrade or migrate (of your tokens are unlocked). Migration has 2 gas, upgrade 1

[gritty ravine]

so i would have to pay the gas fee for staking twice if i were to stake ilv today? once for v1 once for v2?

[cunning perch]

If you stake now, you will have to pay a fee to stake and then upgrade to V2 and also approve your tokens (3 Gas) . If you stake when V2 is out, you will pay for approval and staking fee (2 gas)

[gritty ravine]

What do you advise if i have 600€ to invest?

[cunning perch]

Look at it this way

I assume you haven't staked anything yet.

Stake now: You pay 1 gas to approve, 1 gas to stake and then 1 gas to upgrade

Stake when V2 is out: You pay 1 gas to approve and 1 gas to stake.

[cunning perch]

I can't tell you what to do with you money, but If I had only 600 Euros, I wouldn't stake. I would use it in the game instead with ETH or sILV

[gritty ravine]

Okay, thank you

I will probably just buy ILV without staking then

[timber birch]

what do you mean by "approve" gas, what is that?

[cunning perch]

To stake you need to approve your tokens = you will have to give permission to the pool to take the tokens out of your wallet

[gritty ravine]

That is payed when i claim my tokens in 2 years?

[cunning perch]

No. you pay upon stake. Each time you claim, you will have to pay gas too. Those are claiming fees

[timber birch]

but why do i have to pay "approve" and "staking" fees

[cunning perch]

every interaction with smart contracts has its own fees. transfer/swap/approval/stake/unstake/withdraw/migrate/upgrade/claim all incur gas

[timber birch]

so i basically pay approve gas, staking gas, upgrade gas, claiming gas, and gas for transfering from binance to metamask. so if i have 600euros to invest i'm going to pay like 450 in gas lmao?

[cunning perch]

That's why you have to do your TX when gas is fine and you have enough rewards to claim. you can follow this for your claims #🥩〕staking message

[timber birch]

was pretty determined to stake my 650e, but seeing all this gas i'm having second thoughts, not sure if it's worth it

[cunning perch]

That is why we say you always have to DYOR and know what you wanna do and what's best for you.

[gritty ravine]

why doesn't this calculator have any "approve" fee https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit#gid=0

[cunning perch]

approval fee is when you want to stake new tokens and is cheap. with gas at 60 Gwei, it should be around $10 (maybe a bit more)

[gritty ravine]

so it is my understanding that it should be included in the calculator? as it is an unavoidable fee?

[cunning perch]

You can ask the person who has made the calculator. It's community-made not official ILV-made one 🙂

[timber birch]

maybe unrelated question, but is there any fee converting cryptos in binance (for example eth to usdt)

[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.

[proper ingot]

I think binance trading fee is 0.1%. Moving from binance to wallet has a fee also, about equal to basic eth transfer from one address to another

[gritty ravine]

I think ILV will reach 10000$ in a year, so just buying now i think i can get a x5 return

[supple meadow]

I don't see this happening unless there is an extended cycle which i also don't think is going to happen.. If bitcoin and eth crash I can't see how this would get to $10k while everything else bottoms out.

I do however think that projects like these will drop less then avg during a bear market

[shrewd mesa]

Really like your name!!

[exotic quarry]

Is there a way to calculate how much I'll pay in gas fees when I try to stake Illuvium now?

[gritty ravine]

thanks 😁

[gloomy gazelle]

Make a copy of this and input some data https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit?usp=sharing

[exotic quarry]

What do I enter in at APY% staked in ILV and the one below?

And if I do 365 days I only need to claim rewards once?

[gloomy gazelle]

What page is that on?

[exotic quarry]

Ah I clicked that link and got me here but I just made a copy of the one u send me here

[gloomy gazelle]

Is that @steady trellis ‘s calculator?

[exotic quarry]

Stil really dont know if its worth staking with only 0.6 illuvium especially if I have to claim rewards more times

[gloomy gazelle]

You never have to claim until withdrawing.

[exotic quarry]

I guess? Its the cooper one link

[gloomy gazelle]

And in v2. Not even then.

Oh nope. That’s another one.

[haughty canopy]

Quick question. After you've successfully started staking in the SLP pool, you can disconnect the metamask connection to Sushi.com and illuvium.io, and then remove Metamask from the browser until I'm ready to claim and restake again, right? That should increase security in the event my own PC was hacked, right?

[gloomy gazelle]

Skip the Cooper one.

Just use the first one.

[haughty canopy]

Removing this connection shouldn't interupt the staking benefits, correct?

[gloomy gazelle]

Make a copy of this and input some data https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit?usp=sharing

[gloomy gazelle]

Correct.

[exotic quarry]

Aah okay I just input the numbers but is it true that you pay more in gas fees when claiming then staking and I have to approve right now for $30 to be able to stake. Do I have to pay again to stake after I approve as well?

[gloomy gazelle]

Yeah. Don’t do it now now. Gas is high.

!gas

[woven ibex]

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

[knotty river]

:fuelpump: Current gas prices

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

158 Gwei

Average :person_walking: | **3 minutes**

158 Gwei

Fast :zap: | **15 seconds**

159 Gwei

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

[gloomy gazelle]

Half that gwei is reasonable.

[exotic quarry]

yeahh Ill wait for tomorrow morning. So basically you pay twice the amount when you have to approve then stake

[gloomy gazelle]

Yeah basically

[exotic quarry]

idk if 50$ is enough to do both rn. yeah dont think so

morning in europe is usually good for me

[agile fiber]

I'm getting some family into SLP pool by end of week. Should I wait until V2 to get them in or just get them in this week?

Since you can migrate to V2 I dont see the point in waiting for it, but maybe I missed something?

[gloomy gazelle]

You only have that much eth to pay for gas? Yeah that won’t be enough.

$100 worth on hand would be safer. You shouldn’t need it all if the gwei is under 80.

[gloomy gazelle]

The fees will be lower to stake. And if you are staking flexible you’ll need to withdraw anyways.

[agile fiber]

Staking SLP, locked for max 365 days if that helps.

[gloomy gazelle]

Yeah. I’d imagine with SLP apy over 450% there’s value in staking SLP soon if there’s enough of it.

You just want to be making more than your fee cost in a week or two.

[daring fern]

anyone have an app that notifies you when gwei < 100?

[gloomy gazelle]

I don’t.

[brave marsh]

what are the uses of element sites ILZ?

[exotic quarry]

What is V2?

[agile fiber]

Yeah. I'm talking in the range of $40k-$50k so I believe it will be worth it to stake now as fees won't mean much vs the rewards that SLP will generate.

[gloomy gazelle]

Go to #🎮〕illuvium-zero

[brave marsh]

In V2 u will have lesser gas fees and few more upgrades

[gloomy gazelle]

There will be an updated staking protocol which will have lower fees. You may want to wait until it comes out.

[agile fiber]

Read the most recent IIP in #809220563397902346 in the pins, its name V2

[exotic quarry]

ah so u can stake again for 52 weeks again for less fees? when is that coming

[exotic quarry]

aaah okay yeah maybe I'll wait. Will check it out

[gloomy gazelle]

Not sure. December or January

[agile fiber]

Yeah but if you're already in the middle of a V1 stake thats locked for another ~ 9 months, then you can upgrade to V2 and keep that stake and remaining 9 months, correct? Or do you have to restake and reapply for another whole year?

[gloomy gazelle]

Lock time won’t change.

[verbal egret]

Thanks I already tried that, but all Connect wallet buttons show the same problem

[gloomy gazelle]

@abstract rivet sILV claims can be cheaper since it’s a less complex transaction

Timing… I’d say during the 2 weeks of the migration window.

[abstract rivet]

ok. but what is the difference talking about assets?

[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.

[gloomy gazelle]

!ilv

[woven ibex]

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

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

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

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

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

[gloomy gazelle]

!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.

[abstract rivet]

ok. some doubts

can i exchange sILV for any other coin?

[next ruin]

The only "official" use of sILV is spending in game. Crypto being what it is, you are free to swap it where ever you choose. There is a sILV/Eth trading pair on UniSwap, for example, but you'll only get market rates - so not the full ILV value.

[abstract rivet]

@next ruin ok, got it. now let's suppose a situation that i would like to remove everything from stakings (LP tokens and rewards) and convert it to dollar. the best process would be withdrawing with sILV option and swap everything at Uniswap?

[brisk surge]

Hey I just bought ILV where can I stake

[next ruin]

Illuvium.io is the official site. Go to the staking tab

[runic widget]

Quick question, i have .7 ILV in my wallet and wondering which staking option would be best the core or flash

Also if i stake the .7 can i add more to the amount that i staked once its in already?

[next ruin]

You claim rewards in sILV if you want to liquidate immediately. Your initial stake of ILV or SLP will be withdrawn in that same form when it is unlocked, you would then sell ILV on a CEX or take SLP back to SushiSwap and remove liquidity and then sell that ILV / ETh.

[abstract rivet]

ok, got it. and if i opt for ILV claim option? can i sell it either?

[next ruin]

If you claim ILV rewards they are automatically re-staked for 1 year lock period. You would be able to withdraw / sell once the lock expires as normal.

[abstract rivet]

ok, man. really thanks for attention. solved my doubts. God bless you

[next ruin]

https://tenor.com/view/youre-welcome-pleasure-keanu-reeves-its-a-pleasure-thank-you-gif-18395277

[abstract rivet]

kkkkkkkkkk. now i will look sILV at one exchange

[gloomy gazelle]

Gas is nuts

[agile fiber]

Can someone who actually understands V2 answer this please, like a mod.

What does Aaron mean when he says 'the community asked for this' user can transfer their total positions in V2 to new address.

But then below that he says 'V1 locked positions are still unable to be moved to new addresses.'

I thought thats what the community wanted? For people that locked for a year in V1 with a meta mask, they wanted to be able to upgrade to V2 and swap to a new address (like a ledger) so it would be more secure.

Did I miss something here?

[brisk surge]

Is this something I need to be worried about, it’s coming up on illuvium website as it’s being staked but on my MetaMask it says pending and has said that since 25th November

[haughty canopy]

I'm not an expert, but if you can see the correct amount on the illuvium.io website under your vested amounts and you are seeing rewards piling up as expected, then probably not something to worry about. If you don't see the correct amount of SLP token actually entered into your vested section and you don't see any rewards, then you probably didn't successfully successfuly stake your tokens and may need to reattempt the transaction since they may be sitting in your wallet still. Again, I'm not an expert. Good luck!

If you just tried to do the stake, then you may just need to wait for the transaction to go through

[brisk surge]

Thankyou mate appreciate the help

[gloomy gazelle]

So Aaron can’t undo the v1 locking in the contract. It’s immutable. But what can be done is what is being done for v2.

Once the locked deposits UNLOCK they can be transferred to a new address during the migration. And they would still hold the weight. That’s the good part. Transferring to another wallet and not needing to lock it up again to get your weight back.

[tribal harness]

hi all, I think I need some help. I'm trying to access with metamask to core pools on the web but it gets pending

any idea why is it happening?

[gloomy gazelle]

Gas is wild today.

!scam beware of DMs trying to trick you

[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.

[tribal harness]

but I'm just selecting the wallet before start moving funds. Can I share a pic here? just the situacion, not security related

[gloomy gazelle]

Sure

Oh I see. Not blockchain stuff. Just connecting the wallet.

!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

[tribal harness]

yep

[gloomy gazelle]

Make sure you are on the proper site.

A lot of scams out there

[tribal harness]

https ://staking.illuvium. io/staking/core

[gloomy gazelle]

You can try clearing your browser cache and restarting the browser. Make sure that you are on ethereum mainnet.

Are you on desktop or mobile?

[tribal harness]

on desktop. You're right, just clearing the cache works. Thanks bud

[gloomy gazelle]

https://tenor.com/view/illuvium-ilv-illuviumio-gif-22179265

[tribal harness]

I appreciate it 😄

[exotic quarry]

Where can I read again more about what V2 is?

[next ruin]

#809220563397902346 message

[exotic quarry]

Thanks!

[supple flume]

It’s most likely been asked before but does anyone know how much more RevDis 1 SLP gets vs 1 ILV?🤔

[next ruin]

1 SLP is currently $5,743 and contains about 1.67 ILV tokens. So, it would get 1.67 ILV worth of RevDis x token weight.

[supple flume]

So the RevDis only goes to the ILV portion but nothing is paid for the Ethereum half right?

[next ruin]

Correct. One of the reasons for the much higher yield farming APY offered.

[supple flume]

Got it. Thank You for clarifying. 👍

[supple flume]

One more question, didn’t realize SLP had a value, is it possible to purchase SLP from a pool at a discount similar to sILV?🤔

[next ruin]

No. You get SLP tokens by providing liquidity to the ILV/Eth pair on SushiSwap. Not sure why anyone would set up a secondary market for the tokens.

[exotic quarry]

Soo the fees will be lower when staking and unstaking ILV when we upgrade to V2. I guess I should wait for V2 to come out and then to stake for low gas fees..? Cause if I stake rn I have to pay gas fees anyway I guess later on to go to V2. I just dont rlly know the numbers rn

[next ruin]

Since we are probably talking about a month or less, it probably makes sense to wait. But honestly, idk. Not clear how much the migration will cost in gas vs the rewards you would accrue in that time.

[exotic quarry]

Yeahh. I mean Im dealing anyway in a fair low amount so I guess I'll just wait

[supple flume]

Great. Thanks so much for the answer. Was just worried there for a sec that I could have bought SLP at a discount instead of at the full price I paid lol 😆

[exotic quarry]

Just annoying that I transfered 80$ ETH to MM to stake rn and lost 20$ for that transaction xD

Hope that 60$ will come in handy sometime later lmao

[next ruin]

No problem and no, you didn't miss a savings opportunity lol

[noble orchid]

If i have ether on coinbase(not wallet) and I want to stake in illuvium, whats the best/cheapest way? There seems to be so much fees getting them staked that its not going to be worth it..

[copper schooner]

I have 13 ILv staked that are rewards for my sushi lp with a weight of 2.0. they give much less rewards than the sushi lp?

[next ruin]

SLP pool provides much higher rewards, yes.

[brisk surge]

Hi! When I try to approve my wallet it's not working! Any guess?

[gloomy gazelle]

Gas fluctuations

!gas

[woven ibex]

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

[knotty river]

:fuelpump: Current gas prices

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

92 Gwei

Average :person_walking: | **3 minutes**

92 Gwei

Fast :zap: | **15 seconds**

93 Gwei

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

[gloomy gazelle]

Don’t trust people trying to help in DMs.

!staking make sure you are on the proper site

[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

[static quest]

hey gyus

new here, and am looking to stake my ilv any suggestions?

[cyan rampart]

!staking If you have a specific question about staking related stuff, feel free to ask! I'm not sure what to suggest generally - staking seems really good, the tokenomics are designed around it.

[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

[static quest]

Would you suggest slp staking?

[cyan rampart]

I'd say do your research on the differences between the pools (quick summary: SLP higher rewards, more risk via IL, ILV only pool lower rewards, but more revdis, no risk of IL) and decide for yourself. I'm staked in the SLP and it's very good.

[static quest]

Doesn’t the high apy mitigate that risk? Also the true apy is half of what’s posted correct?

[brisk surge]

Don’t trust people trying to help in DMs.

[cyan rampart]

It's not guaranteed to, but yeah, in most cases the higher APY will cover and exceed your IL. A flexible stake has half the APY listed. The listed APY is for a 12 month locked stake.

[static quest]

I mean are you only getting returns on the ilv and not the eth?

[sage siren]

Is it dumb to take ILV over sILV on your claims? sILV you will be able to sell when the game launches right?

[next ruin]

ILV is re-staked and lets you compound rewards and have more potential RevDis earnings. sILV allows you to have access to liquidity right now. I'm personally claiming all ILV and buying any sILV I need for now.

[gloomy gazelle]

I don’t think that’s accurate.

[rich seal]

hi, one question; how less reward do you get if you claim reward in sILV than ILV? Thank you for answer and have a nice day

[karmic saffron]

I have my iLV stake locked for 52 weeks. is there anything active I need to do for v2? Also, where is the restake button, instead of claim for the stake rewards?

[robust anchor]

Hi - I have staked for a few months but my rewards seem to have stopped - is there anything I need to do to restake? Thanks

[static quest]

so the apy applies to both eth and ilv staked?

[cyan rampart]

Yes. The APY specifically covers the entire value of the investment. You only collect revdis on the ILV portion of your SLP stake however.

[static quest]

Ah ok understood thx

[fossil hinge]

how much bread yall get from staking

[gloomy gazelle]

Plenty

[coarse wagon]

hey guys i recently transferred 1 ILV from binance to my metamask, i transferred it through BSC and ive added the correct network to my wallet and im also on the correct network.
my TXID is 0x7c3e9d84157320a89fbb287615a0ec9a0992772848deb5c70a1387acdc0f6839 which says it has been processed but from some reason i cannot see it.
ive waited 24 hours and still nothing.
trying to stake it.
anyhelp would be appreciated

[gloomy gazelle]

You won’t be able to stake using BSC as the network.

I’ve got to go I’m afraid. Or id look further into it.

[coarse wagon]

damn, ok thanks anyway

[toxic musk]

Is it worth staking 1 ilv for silv? I feel late to the party 😆

[carmine drum]

I’m afraid that it may be lost, since we used to transfer using ERC 2.0.

[coarse wagon]

why would it give me the option to transfer on the BSC?

theres even a BSC token address?

[carmine drum]

Not sure why Binance always offer the multi networks for a token. But let me ask, did you add token on your MM?

[coarse wagon]

yep sure have

on both the ETH and BSC networks

[carmine drum]

I mean the ILV contract on your Metamask.

[coarse wagon]

yeah

[carmine drum]

and the display of ILV is still 0 right now?

[coarse wagon]

thats correct

but it says processed.. can you DM me this slow mode is infuriating lol

[carmine drum]

Then it may be lost, I’m not sure if Binance can do anything, but you should try contact Binance support.

[coarse wagon]

i just don't see how it can be lost, its not like i sent it to a network that doesnt support ILV

[carmine drum]

ILV is a ERC 2.0 token so that it should be transfered using ERC 2.0 network, many of us have successfully transfered it this way.

[regal sable]

What is the apy of staking only ILV?

[scenic crescent]

ILV is a ERC 2.0 token if I´m right, the problem ist, that the bsc Network uses the same algorithm as the Ethereum Network to generate the Wallet address, so the address of your Wallet could be bsc aswell as ERC2.0, thats why Binance offers both options. So like Tin said, it could be lost if your unlucky, but best i to write the Binance support.

[coarse wagon]

thanks mate, i wrote to binance and they said that it has left there wallet so i will need to contact metamask.
i just dont understand, if its the same wallet address wouldnt it go to that wallet regardless.
like you add the ILV token to both BSC and ERC 20

[sage siren]

Thank you

[scenic crescent]

Try to add this token to your metamask wallet: 0x4d5AC5cc4f8aBdf2EC2Cb986C00C382369f787D4

in my wallet it shows my transfered ILV on the BSC chain

[coarse wagon]

i love you

can you please tell me how you found that?

[scenic crescent]

prob a Admin should at that to the contract list, cause its the contract for ilv on the Binance Smart Chain

[coarse wagon]

has it changed? because i got the contract id from BSC

am i going to have to send it back to binance then back to metamask using erc to stake it?

[scenic crescent]

if you search for you TXID and click on the Illuvium Token it says that its the token Contract

[scenic crescent]

Yes, staking only works on ERC20

[coarse wagon]

sooo i will have to send it back to binance using the BSC yeah?

[scenic crescent]

So unluckily you need to pay the gas fees...

[coarse wagon]

thats ok.
at least i didnt lose the token

[scenic crescent]

thats true, would be a lot more money

[coarse wagon]

plus BSC is cheap anyway

[scenic crescent]

true, have a nice staking and enjoy the ride 😉

[coarse wagon]

thanks mate appreicate your help.

[abstract junco]

If i claim my rewards as ILV from SLP pool and those ILV tokens will vest for one year then those tokens will also be eligible for revdis right? just wanted to confirm sorry i got confused from this statement😅

[cyan rampart]

Yeah, that's correct.

While vesting, your claimed ILV tokens will generate rewards AND collect revdis.

[glossy creek]

Hello, do you recommend to stake ILV now OR wait for staking v2? Also, when will staking v2 be released? Thanks!

[cyan rampart]

There's no a set timeline on V2, as it has to go through an audit, and then if any issues are found they need to be fixed before it can go live. I expect we may have a timeline after the audit.

Personally, at this point, I'd wait. NFA, DYOR.

[glossy creek]

If that’s the case for staking v2, it would most probably be past the land sale. Waiting for it means passing up on the revdis on the land sale

[cyan rampart]

I think staking v2 will be before the land sale. V2 has all the UI elements to enable revdis. At least, that's my understanding.

[glossy creek]

If that’s so, that would be great!

[static quest]

Try bridging it

[celest badge]

heyy, i have staked slp tokens that just finished the lock period. How do i lock them again?

[final steppe]

Your SLP tokens are unlocked but still currently staked with the same token weight that you had when you first locked them. So if you're wanting to keep that same weight, you don't need to do anything!

But if you're wanting to lock the tokens for a longer period of time and get a higher token weight, you'll need to head to the Vesting tab of the Staking website, and withdraw your SLP tokens from there. Once withdrawn, you can stake them again and select a longer lock period/higher token weight 🙂

Keep in mind the gas fees-- you'll need to pay gas for each transaction.

[celest badge]

ok thanks!

[frail sundial]

Also keep in mind the v2 staking coming out in a couple weeks, migrating over there would be better in the long term for claiming and the like and as I read it any locked tokens in v1 will remain locked on the v1 contract until locking ends. Might be better to wait the couple weeks and lock on v2

[celest badge]

but to get the same weight in v2 than what i want to get now i would have to lock my tokens twice as long right?

[autumn cloak]

Nope! They got rid of that. For 2x weight, still a year lock, not 2 years

[frail sundial]

As far as I saw it’s still a year max lock so it’s the same sliding scale as current

[celest badge]

oh ok thanks guys

[static quest]

Just want to make sure I’m understanding this correctly … if you lock weekly at 200% let’s round it to 4% a week yield … as long as the spread between eth/ilv remains under 4% you won’t experience any IL and will be in profits?

[near adder]

i think my staking is wrong

because ive staked for months and ive got only .10 ilv as rewards... is it correct?

[autumn cloak]

Depends on how much you have staked and for how long in which pool.

[brisk surge]

any got a picture/link for the staking rewards distribution chart?

[static quest]

@final steppe can you help me out here?

[sand condor]

How do I stake my ilv?

Do I need to stake my ilv for land?

[elder dawn]

Its not quite that easy, and those are two different questions. If ILV and ETH stay close together, you won't incur IL. If they both decrease, you may lose money. Here's an article where I review this, including a calculator where you can visualize the impact of IL and price changes on both profit and IL. https://www.publish0x.com/ilvfi/impermanent-loss-visualized-xwwevvx

[elder dawn]

!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

[elder dawn]

and you do not need to stake in order to buy land.

[sand condor]

But I can’t use it to buy land if it’s staked right?

[runic mason]

ilv can't be used regardless, only silv an eth

[sand condor]

Ok What’s silv?

[elder dawn]

!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.

[near adder]

ilv core pool... 2.88 ILV.. 37 days ago...

locked 12 months

[dawn creek]

How long does staking SLP tokens last? Meaning - is there a date they will not be allowed to be re staked?

[elder dawn]

staking lasts as long as Illuvium lasts. Yield farming rewards last through mid 2024. No specifics on what happens/if there are other future rewards for the SLP after that time.

[static quest]

What I meant to say is the yield will be greater than the IL, and will therefore remain in profits

[hoary yacht]

Can someone explain me , when I click in vesting tab it says weight 1.38 and can be unlocked in 25 days , staked ilv is 34.8. What that means ? What will I be able to unlock ? What amount?

[brazen egret]

0.1 ILV in rewards after 30 days of staking only 2.88 ILV in the CORE pool not LP pool sounds right to me?

[elder dawn]

Being profitable is more a function of the price of ILV than anything else. The sheet I linked shows you overall profitability relative to IL, and from there you'll need to assess how long you want to remain staked, as rewards decrease over time. Sorry for the non-answer. Its a complicated question. Hopefully these resources help.

[static quest]

Well the price of ilv and eth

[supple flume]

Question. So the SLP tokens I staked for a year, how will I be able to convert them back to ETH+ILV? Or will they do that on their own when I claim them after 12months?

[elder dawn]

You'll need to go to Sushi once they are unlocked and remove liquidity. That will return ETH and ILV to your wallet.

[hoary yacht]

What weight in vesting tab means ? Weight 1.38 I can unlock in 25 days, what is that means?

[elder dawn]

Weight determines your APY and pool weight for revenue distribution. At flexible staking, weight =1, at 12 months locked, weight = 2.

[hoary yacht]

Thank you

[supple flume]

Thanks so much for the info. 🙏

[trail sail]

Hi sir - serious question

Have you had a chance to build a calculator for wen $ILV = 10k yet?

[runic widget]

if i stake my ILV and buy more can i add the more that i bought to the amount i already have staked

[trail sail]

Yes, it'll be on its own unlock schedule though

[verbal heron]

My staking rewards right now
https://tenor.com/view/dave-chappelle-im-rich-bitch-autobattler-rpg-blockchain-gaming-gif-22427900

[placid lagoon]

Hello just to clear it out, Migrate isn't mandatory so anyone can still keep their tokens in v1 but upgrade is kinda semi-mandatory if they want the yield farming to function right? So basically, migration is for lower gas fees.

But what if anyone wants to migrate Locked ILV yield? Migration requires claiming and unstaking, while locked yield is untouchable. Does locked Yield automatiically migrate? or should I wait for them to get unlocked and unstake and do the new entire process of migrating.

Plus, do we know when exactly the window's gonna open?

[cyan rampart]

#809220563397902346 message

RE: Wen V2

Upgrade is something you'll HAVE to do if you want to keep collecting yield farm rewards. Migrating moves your stake fully over to v2 so you have cheaper gas for claiming etc.

[halcyon ore]

guys, I see the APY of SLP getting higher but my daily return is going down, is that only me?

[exotic knot]

hi why does nothing happen when i click claim ilv for my rewards?

[halcyon ore]

you have metamask and ledger?

[exotic knot]

i use trust wallet

[plush vapor]

Because only sILV can be claimed instantly. ILV gets vested for one year if you claim. Check Vesting

[cyan rampart]

The APY is value based, not # of tokens based.

[exotic knot]

but it doesn't go into my staking it stays under rewards after i press claim

[halcyon ore]

so since eth isn't going high as fast as ILV, the SLP went behind a bit hence less tokens? this must have hit a lot early stacker

[clear cape]

No

When ILV increases in price, it means the rewards you getting are worth more dollars. This is why APY increases

The amount of ILV rewards you get in terms of tokens is always decreasing

[halcyon ore]

got it. I though the APY was increasing due to people unlocked removing from the pool to avoid impermanent loss when the price is going up

[cyan rampart]

As long as the total investment in the pool is increasing, yeah, you'll always get less ILV numerically. The APY can increase when the token price increases though.

[halcyon ore]

thks you both

[clear cape]

It does help when people unlock but the biggest dictator in APY is price

And staking pool is always growing in the medium-long term, as well as the 3% reduction in rewards fortnightly. So we keep getting less & less ILV over time

[halcyon ore]

got it now. Was expecting to have the amount of token reduce with the APY.

[midnight crow]

Will there be a cost to upgrading to v2 (gas fees of any kind)?

[storm wolf]

How is the upgrade process?

[lofty galleon]

So when we stake our ILV and the game is generating revenue say 100 million USD a month. And say there are 1 million ILV tokens staked. If I have 100 ILV tokens staked will I be rewarded $100 per token I have staked or is it just a certain APY like it is now?

[atomic lagoon]

it will be based on your lock period also. If you are not locked, you will get less revDis compare to the one who locked for 12 months.

[lofty galleon]

So say it’s locked for 12 months, will it be the first example I gave?

[atomic lagoon]

my understand on this is limit. so may be below YT videos might explain better
https://www.youtube.com/watch?v=QY_NQeNVfsI
https://www.youtube.com/watch?v=8PmUfJWEI-g

[lofty galleon]

Thank you!!

[alpine glade]

For clarification, does v2 have a direct impact on gas fees say if you only stake in the ILV pool ? Like you wouldn’t benefit from the single claim gas if you only have it on one pool right?

[atomic lagoon]

Yes. The benefits will be that when you add in additional stake, the system will not force you to claim the reward first.

[red echo]

Hi its possible to transfer my ilv staking from one wallet to another with staking v2? My metamask was hacked

[atomic lagoon]

this will most likely be possible in V2. it is in the iip proposal, you can find it in pinned message in this channel.

[agile fiber]

If your ILV is locked, you cannot transfer it to another address until it is unlocked, even with V2.
If your ILV is not currently locked then you can upgrade to V2 and send your ILV to a new address.

[red echo]

thanks so nicee

[cyan rampart]

In your example, if all the tokens are locked at 2x weight, you'd get $100 per token, paid as unlocked ILV tokens. In reality, some tokens will be locked at more or less weight, so you'd get slightly more than $100 for a 2x weight stake, or less for a 1x stake.

[stray epoch]

Will my staked ILV be unlocked when i claim sILV?

[cyan rampart]

Your staked ILV will be unlocked when its' lock period ends. Whatever length of time you locked it for is how long it is locked for.

Your sILV will be unlocked, but claims don't affect your stakes lock period.

[stray epoch]

I see.. so even if I claim sILV now, my staked ILV will keep earning more tokens through staking, am I right?

[cyan rampart]

Yes, you can claim whenever you want, your stake will continue generating rewards until you unstake it.

[vestal lodge]

Hi i bought some ilv through coinspot, trying to connect to wallet and stake but I am new and struggling

[stray epoch]

Thanks!

[cyan rampart]

I'm not familiar with their wallet - You can always get a Metamask wallet, transfer your ILV to your MM wallet, and stake that way.

[vestal lodge]

Ok thank you

[golden crag]

Is there an estimated launch date for V2… ? I couldn’t see it in any of the docs.. I may be blind though…

[strong forge]

Does it even matter what price you get illuvium at for staking?

Like if I go in at 1700 compared to going in at like 2,000

[alpine glade]

Beautiful. Would this also be possible with a V1 stake that is upgraded to V2? Or only on new V2 stakes

[atomic lagoon]

Both.

[coarse wagon]

is there any way to avoid paying 150 usd in fees just to stake?

[magic laurel]

if ur trying to stake now u might want to wait till v2 unless u have a substantial amount

[atomic lagoon]

you can wait for weekend when gas fees are lower. wait for lower gwei 80 or lower.

[craggy willow]

Hey guys random question, I only have 1 iLV as thats only what I could afford to buy, is it worth staking just 1 iLV?

[trail sail]

It’ll cost you 150-200USD in gas to stake it, for 40% return. You decide if it’s worth it for you! (And welcome to ILV)

[craggy willow]

40% return year on year?

[trail sail]

40% as of now, but on a general downward trend in terms of yield

[craggy willow]

so pay 200 in gas fees and then get around 200 back by staking?

But you also get silv as a reward right?

[magic laurel]

Depends on which pool u stake in

[dreamy sorrel]

To make sure I'm understanding this correctly, I will get SLP back if I stake SLP correct? Does sushi swap also reverse a liquidity pool token like that back into it's parts or how do we get back to ETH or similar

[sonic wolf]

nope, you get ILV back that is locked for a year

[dreamy sorrel]

As a reward yes, but after the locking period is over for my stake, and I staked SLP, we get what we staked back (SLP in that case). That's true right? And is that convertible back to ETH/ILV?

[sonic wolf]

When you unwrap SLP, you get ILV/ETH tokens. Depending on price of those assets, you might get them back in different proportions

[dreamy sorrel]

So if I spend X amount of $ now on SLP (buying at equal price on ILV/ETH), I still get X amount in $ back, just not necessarily equivalent distribution of price between the pair? What's an example of why the proportions would change?

[sonic wolf]

https://www.youtube.com/watch?v=8XJ1MSTEuU0

[trail sail]

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

[dreamy sorrel]

Right so that's where impermanent loss comes in. So if the prices diverge, that causes the balancing

[fluid sphinx]

hhey quick question. SLP token that i deposisted i get that back once as SLP or ILV

[sonic wolf]

Read exacly 4 messages above your message

[delicate yacht]

hey guys i need help. nothing happens when i tried to stake sushi lp

it said i needed to claim ilv first then after i claimed it nothing happens but charges me gas

[atomic lagoon]

do you have the ILV address in your wallet?

[delicate yacht]

do i need the address? i have staked sushi lp before

this is my first time claim

[atomic lagoon]

there is an ILV address in the pinned message in #💰〕token . may be you might want to add it in your wallet and check if you can see the reward?

[coarse wagon]

thanks mate, when is v2

[sharp bone]

When the in game revenue is distributed back to ILV holders staking. Is there a way to see these rewards and how they were distributed? Or will we just notice more ILV being distributed to us?

[atomic lagoon]

you will see the revDis reward under vesting tab on the main website.

[nocturne ferry]

Hi folks, what about the apy, the value of the apy will decrease over the course of a year?

[summer heath]

Every 2 weeks approximately 3% APY it will go down I believe

[versed coral]

How long is the whole staking period actually?

Does it go until the 3M tokens are all distributed?

[summer heath]

For the pools it’s 3 years. I’m not sure the exact end date. But staked ilv also will earn Rev/Dis and this will never end as far as rev dis. I think the goal is for rev dis to pick up as staking APY gos down, so the transition of APY should be interesting to see for us all

[coarse wagon]

when is staking 2 starting?

[versed coral]

So it basically means the staking period of 3 years will automatically transition to the revDis once the game is out? Or do we get rewards from the pools and revdis in addition?

[summer heath]

Any staked ilv or SLP will start getting rev/dis any time the game generates revenue. So we will see our first sprinkle during land sale. As the game comes online and people start playing more and more revenue will be allocated as rev dis.

So it’s kind of like a teeter totter. As staking APY gos down, rev/dis will be coming up with game adoption. So it will be interesting to see how that balances out but your staked ilv will be eligible for rev dis immediately as it starts being generated

[versed coral]

I am really pumped for the upcoming months how this all will turn out. So much potential in this game

[summer heath]

Hahaha same for me. The 6 months after game launch will be super interesting to see rev dis pick up.

[versed coral]

That’s for sure. I am also very hyped to just play the game itself as I haven’t been able to find an enjoyable game for quite a while. My gaming pc is just waiting for all the beautiful graphics of this game 😂

[cunning perch]

Probably in 2-3 weeks. might change

[summer heath]

Hell yea brother!

[cunning perch]

It started in July 1st 2021. add 3 years to that 🙂

[summer heath]

Awesome thanks Arash 😊

[mint crag]

Hi guys. Quick question:

I claimed my staking reward earlier and it just went into like this. I should wait for a year just for the reward? I just thought it would go directly on my metamask

[cunning perch]

ILV gets locked for a year. sILV goes to your wallet immediately to be used in the game/auctions

Also watch out for DMs. They are scams

[mint crag]

Ah I see. So everytime I claim a reward, that reward just gets locked for a year?

[cunning perch]

in form of ILV, yes. In form of sILV, no 🙂

[mint crag]

Or is this just happening because game isn't released yet.

[atomic lagoon]

if you claim as ILV, it will always locked for 12 months regardless the game is released or not. If you claim as sILV, it will unlock immediately and you can use in land sale or in game when the game is released.

[mint crag]

I see. Then after a year, for my example, 243 days. I can withdraw the ILV directly to my wallet?

[cunning perch]

yes. and pay gas 🙂

also follow this for clarification

[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.

[mint crag]

Thank you so much guys. Your answers really helped.

[sudden wagon]

I've just tried to claim my ILV rewards for staking SLP and it forced me to claim my ILV rewards for staking ILV (a small amount form the last time I claimed my SLP rewards) is this normal or did I do something wrong? It basically forced me to pay double gas for no benefit (on my end)

[proper ingot]

Hey peeps. Regarding claiming rewards, is every reward claim for the full amount currently pending?
Example: 1 ILV/sILV pending. Is it a binary choice, either 1 ILV or 1 sILV? Or can I claim 0.5ILV and then make another claim for 0.5 sILV?

[sudden wagon]

one or the other I think.

[cunning perch]

check this #❓❗〕community-help message

[cunning perch]

it is a full amount claim. you claim, it's done.

[proper ingot]

Thanks for confirming :)

[crystal dagger]

Is there a GitHub link anywhere so we can analyze the staking contracts?

[cunning perch]

you can check in #📰〕governance-news and I thing V2 will be put there when it's up for votong

[shy pendant]

Will I have to claim my rewards before upgrading to v2? Not sure if its mentioned in the doc or not

[cunning perch]

upgrading doen't require a reward claim afaik. Migration does on the other hand

[sudden wagon]

Hmm, that didn't really help me. I'm not trying to withdraw, everything I have is vesting for a year.
I wanted to only claim my rewards for the SLP pool but it forced me to claim my rewards for both the SLP and ILV pool

When clicking the blue labeled button, it forced me to do another transaction, effectively emptying the pool from the orange labeled button.
I didn't want to empty the orange label pool as it barely had anything in it and the gas fee was not worth it.

Can I claim just from the SLP pool when I do this in the future? Or will it always force me to claim from the ILV pool as well?

[cunning perch]

Claiming is the same procedure on V1. You press "claim ILV" in SLP, it pops two contracts. one to claim ILV rewards and one to claim SLP rewards. So it's a 2 claim on V1 regarding SLP.

V2 will fix ths

[sudden wagon]

So there's no way to avoid the double gas expenditure?

[cunning perch]

not on V1. V2 will fix this.

[sudden wagon]

Cool, thank you for the clarification. Can I ask where I might find details on a timeline for V2?

[cunning perch]

No worries. V2 should be implemented after approval and its audit. Maybe 2-3 weeks. BUt no exact date has been mentioned yet

[sudden wagon]

Amazing, I'll wait for that before I do my next claim. Thank you for your help 🙂

[cunning perch]

anytime 🙂

[crystal dagger]

Hmmm I meant the actual SLP staking .sol code - this would expose the variable names so that one could easily query the state of the contract (total claimable ILV/etc).

[sinful valve]

Hi all. I have been staking both ILV and SLP. I now have 50.83 total pending rewards. No I want to stake these rewards but I only seem to be able to stake the ILV. How do I stake the SLP rewards.

[sudden wagon]

Rewards are paid in ILV that comes with a vesting time, you won't be able to get that ILV back into the SLP pool for compounded staking for a year. But it will automatically start staking in the ILV pool after you claim it.

[cunning perch]

That I don't know my friend. Maybe when Aaron was active in DS you can ask him.

[crystal dagger]

Gotcha no worries, will do

[sinful valve]

Ok so I just leave these ‘total pending rewards’ until vesting has finished.

[sudden wagon]

Not quite, while they're pending they're not doing anything for you.

[sinful valve]

So what is the best thing to do with them.

[sudden wagon]

The flow is:
Rewards earned slowly
They start as pending (Doing nothing) >
pay some gas (one transaction for each pool) >
Now they're yours and they start vesting >
This means they're locked for 12 months (assuming you chose to claim ILV)
But they're also added straight into the ILV staking pool (40% APR)

[sudden wagon]

From my calculations, every time you have roughly 10 ILV pending combined in both pools, wait for a low gas period (the weekend) and claim them. They'll then be visible in the vesting tab, and will start earning you even more ILV 🙂

[sinful valve]

Ok so I have 50.82 Sushi LP I can claim. How do I do that?

[sudden wagon]

On the rewards page.

[sinful valve]

Thank you for your help too.

[sudden wagon]

If you want sILV (less valuable but spendable on land and not subject to 12 months vesting) click the other button (claim sILV). I think ILV is the better bet, but that's up to you.

[sinful valve]

No only interested in ILV

But do I have to do that through Sushi swap and have equal ETH?

[sudden wagon]

Hmm. I'm not sure I know what you mean. And that makes me think I might have misunderstood you.
Do you have 50 SLP you'd like to start staking? Or have you staked some SLP and now have 50 ILV pending on the rewards screen?

[mighty thicket]

Heyya guys! The ILV I have staked for 3 months is done and I can withdraw it. Do I need to withdraw it and stake again if I want? Or it is still in stake even though I can withdraw it?

[sudden wagon]

It stays staked, it'll keep earning rewards at the weight it was set at until you withdraw it.

[sinful valve]

Yes I have staked and locked both ILV and SLP 4 months ago. Now I have 50.83 pending rewards.

[mighty thicket]

Thanks! Thats nice. No need to pay for gas price.

[cunning perch]

watch out for scam DMs. now that you mention it, scammers will swarm in DMs

[sudden wagon]

Then my suggestion would be to claim this soon as the compounding ILV will pay for the gas to claim. You need to claim before the ILV rewards you've earned so far start earning their own rewards. If you can't see them in the "Vesting" tab they're not earning you any rewards.

[sinful valve]

Maybe I’m confused.

[cunning perch]

if you have staked SLP, you can click on "claim ILV" in SLP pool and pay 2 gas. It claims both pool rewards for you and if you claim ILV, it will get locked for one year, and if you claim sILV, it will be released to your wallet. This is only valid on V1. It will change on V2

[nocturne ferry]

Hello folks, a question: I have 0.3 SLP locked for 1 year from now, I would like to know if I just forget and doing nothing will yield more than clain every week/month?

[cunning perch]

if you don't claim, pending rewards won't do anything and you will never get them.

[cunning perch]

also read this #🥩〕staking message

[nocturne ferry]

i intend to claim, but only after 2 or 3 years

[cunning perch]

Not a good idea. cuz if you don't upgrade to V2 when it's out, you won't get any rewards at all. and if you don't claim rewards, when you claim, you will again have to wait for one year to get it

[nocturne ferry]

get it, but for now, the fees are killing me

[cunning perch]

well, V2 is planning to fix that to a point. so stay tuned

[nocturne ferry]

when you said "stay tuned" what can i do for now? i just put my money there.. idk how to update V2 when it comes

[cunning perch]

make sure you read this. It will be out in 2-3 week (probably) #809220563397902346 message

[nocturne ferry]

alright, tnks bro

[indigo nimbus]

Hi I'm sure you get this all the time so sorry in advance. I am about to stake in the SLP using my metamask linked to a ledger cold wallet. Has anyone had any problems doing this?

[main cloak]

Hey guys, when you want to remove your SLP pair from the sushi pool, do you get extra in pool reward or something?

From sushiswap: "Tip: By adding liquidity you'll earn 0.25% of all trades on this pair proportional to your share of the pool. Fees are added to the pool, accrue in real time and can be claimed by withdrawing your liquidity."

[cunning perch]

Hey. 1st watch out for DMs. They are are scams

And second, you can stake through MM-Ledger wallet with ease. make sure you're blind signing is ON

[cunning perch]

a small SUSHI from all the txs done on the pool, yeah. It should be pretty tiny

[chrome helm]

ok i have ilv ready to stake for a short period of time

[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

[indigo nimbus]

thank you

[chrome helm]

is flexible 'unlocked'?

[cunning perch]

yes. Rewards are not

[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.

[deft ridge]

I am planning on restaking slp again this weekend for the first time..have not claimed rewards at all yet from first slp stake..when I go to do this..I just hit stake and it will do the claim for me correct? with gas fee..

[cunning perch]

on V1, click on "stake SLP", it will force you to claim rewards and then stakes your SLP. (2 gas, maybe 3 if approval was needed)

[deft ridge]

Thanks Arash..I thought that but just wanted to make sure before doing it!

[cunning perch]

no worries 🙂

[half field]

There is a staking channel!!! TIL was chatting on #💰〕token but just wanted to share, but I just got my first (and only) single ILV a few mins ago! Staked my precious 1 ILV immediately afterwards. Not sure what's entirely happening, but just extremely happy to have a tiny part of a game I actually believe in 😆

[cunning perch]

!claim occasionally. follow this until V2 is out (in 2-3 weeks) 👇

[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.

[half field]

My brain is tiny, so it might take a bit to process all of these, but I appreciate the information nonetheless. I lov u thanks a ton

[main hemlock]

As the ILV rewards collect do those rewards make you any further interest is it best to withdraw and put into vesting?

[cunning perch]

read 2 pms above

[main hemlock]

So best to vest!

[half field]

I just read that "During a window of 2 weeks Staking v1 will be deprecated, and then v2 will begin generating yield. Users will be required to upgrade to v2, and in
exchange receive a number of benefits and improvements"

Just wanted to clarify, but what does upgrading entail in this case if it's cool to ask? I mean, are there any actions I personally should take, or does the "upgrading" happen automatically and just kicks in w/o any action on my end?

[cunning perch]

upgrade = V2 will read your V1 stake as if it is staked on V2.

[wet timber]

So do we get all the ilv we missed out on in the 2 week period added on ?

[cunning perch]

they will be paid with a bonus

[wet timber]

Ok nice, and upgrading will be dependant on the price of gas at the time ?

[cunning perch]

def 🙂

[brisk surge]

what kind of bonuses 🙈

[cunning perch]

lol.....a kiss maybe? 😄

[wet timber]

Will it be easy? How will one go about upgrading

[cunning perch]

it should be a click tbh. Idk how it looks like,. We'll find out altogether

[wet timber]

Very nice

[brisk surge]

@cunning perch I'm happy to take the Dawnlight Badge - Diamond NFT as a bonus, and a kiss 😉

[prime nexus]

And how hard will be to update the wallet in v2?

[cunning perch]

lol yeah I can imagine

[prime nexus]

I need a kiss and a hug!

[cunning perch]

I literally said it 3 pms up 🙂

[wet timber]

Pretty easy bro just a click

[prime nexus]

Cool! Sorry just woke up- missed it

[brisk surge]

@cunning perch One last thing, with the new v2 staking, it allows you to transfer addresses, just in case it gets leaked. Is there potential to merge staking for an address?

[cunning perch]

yeah. If you have upgraded and token are unlocked you can send them to another wallet

[brisk surge]

I've got two wallets, both staking atm, ideally I'd want to merge them,

[cunning perch]

you upon unlocking you can do that

[brisk surge]

Cheers

[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.

[indigo nimbus]

Hi I'm about to convert 5.1 ilv + 2eth (50/50) and it's saying I will get 3.1 pool tokens. Is that correct. I thought it would be 5 SLP

[cunning perch]

Hey check the SLP price and conversion here https://app.zerion.io/invest/asset/SLP-0x6a091a3406e0073c3cd6340122143009adac0eda

[mighty shoal]

quick question, hope i am in the correct spot. I am swaping ETH for Silv right now. I put in the contract address and it shows the values that the swap will have but the Silv symbol is a grey circle with a line through it like an empty no smoking sign. Is this the correct one? Sorry first time doing it and I saw someone say earlier to be careful not to buy the wrong one..

[cunning perch]

it is called Escrowed ILV. yes the logo is weird

[slender cradle]

i just want to make sure i got the info correct, if i stake without locking i can unstake whenever i want right?
and how long does the unstaking take? or is it immediate? (for example with wax after unstaking u gotta wait 3 days to claim

[cunning perch]

you can check its liquidity in Uniswap V3 to be sure

[runic barn]

question on staking-- i see my reward balance and i see my ILV balance, I also see my SILV balance, i also see my pooled LP Sushi balance, why is the ILV balance showing fractions of a dollar?

[indigo nimbus]

ok thanks

[cunning perch]

1. yes
2. YF ends in July 2024. Staking for RevDis, never. Though (after V2) (2-3 weeks) if you stake Flexible you won't get RevDis. Minimum lock is one month

[cunning perch]

ILV balance is the ILV you got in your wallet. probably you haven't staked it all. It is just decimals

[runic barn]

got it thanks. and my pending rewRds are only available in 1 year correct?

at which point i can go to the rewrds page and hit claim?

[cunning perch]

if claimed in form of ILV, yes (after claim). if claimed in form of sILV, no. it will go to your wallet

[slender cradle]

what revenue distribution means?, like if i wont get that then what would i get?

[cunning perch]

here #🥩〕staking message

[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.

[slender cradle]

by unlocked ilv you mean ilv which i can claim and move to my wallet immedciately?

[cunning perch]

any ILV that is currectly staked on V1 (not rewards) can be sent to another wallet upon unlocking (after V2 in 2-3 weeks)

[slender cradle]

and the revdis which is generated is unlocked automatically am i correct?

[runic barn]

sorry i dont understand claiming... i claim when i want to pay gas... but then it just goes right back to staking it? i cant withdraw it for 12 months right?

[cunning perch]

yes you have to withdraw it though

[cunning perch]

!claim

[woven ibex]

Rewards from staking have to be manually claimed and GAS fees for those transactions have to be paid:

• When you stake ILV yield farming rewards start piling up for you
• You claim those rewards whenever you deem the pile to be big enough to justify gas fees
• If you claim sILV you have it unlocked right away (sILV is only usable in game as a substitute currency for ETH outside the marketplace and the Leviathan Arena)
• If you claim ILV then that batch of ILV gets locked for 12 months and automatically staked in the ILV pool with a token weight of 2.0 for compounding effect
• New rewards start piling up....rinse and repeat

NB: ILV paid out as part of Illuvium’s Revenue Distribution have to be claimed as well but are not subject to a locking period.

[runic barn]

thanks... so basically my LP is earning right now but when i want the rewards to actually earn, you hit the claim button

[cunning perch]

if you are staked in LP, on V1, you click "claim ILV" in SLP, it costs you 2 gas (one to claim ILV pool rewards and one SLP rewards).

[hoary ridge]

Arash I have a little staked in the sushi lp, where is the "claim ilv" i don't see it. been trying to figure out where the apy is going and can't find it, thanks for the help

[cunning perch]

Check "rewards section". if it is claimable, youll see it

[hoary ridge]

so it says no rewards available on the illuvium rewards page

[cunning perch]

when did you stake?

[hoary ridge]

Nov 2

[cunning perch]

what website did you stake in?

[slender cradle]

does it cost gas fees to stake? cause like it will cost 40$ just to get my ilv on the metmask wallet

[hoary ridge]

sushi swap, thru the illuvium site link in the core pools

[cunning perch]

yes. every smart contract needs gas

[cunning perch]

Do you still see the SLP in your wallet?

[hoary ridge]

yeah

[mental junco]

When will this migration to v2 happen should I wait with staking until migration?

[cunning perch]

then you haven't staked. you have just approved your token

[cunning perch]

migration is when your tokens are unlocked.

[mental junco]

ahaa

[cunning perch]

watch out for DMs they are all scams.

[hoary ridge]

damn your right, i didn't do that last step, thank for help man. Yeah i know all DMs are BS, good looking out bro

[cunning perch]

No worries 🙂 happy to help

[glossy shoal]

hey i have kind of a novice question. Hope someone can help me out. So i staked 20 ILV for 6 months in the Sushi LP pool. I got 4.28. In dollar amount it says $26,000 currently stakes but if i just do simple math 20 ILV I placed into staking should be 36,000. Am i missing something?

[cunning perch]

It was kinda hard to understand your Q, but you can see your Impermanent Loss in APY.Vision website and the value of your SLP in https://app.zerion.io/invest/asset/SLP-0x6a091a3406e0073c3cd6340122143009adac0eda and see what the value should look like

[nocturne ferry]

Whats happens if i not claim my rewards after V2 update?

[cunning perch]

nothnig. if you don't upgrade to V2, you willl stop receiving rewards. (you can claim your existing rewards and then wait for a year to receive them)

[nocturne ferry]

But my rewards in V1 will be missied?

[rich seal]

hi, one question; how less reward do you get if you claim reward in sILV than ILV? Thank you for answer and have a nice day

[cunning perch]

I answered you in (parentheses) 🙂

[nocturne ferry]

Ah ok, tnks bro

[cunning perch]

it is the same. if you have 2 pending rewards, you can claim them in either ILV or sILV. ILV wil be locked AFTER the claim, sILV will be released to your wallet

[glossy shoal]

Okay thanks for responding. I want to figure this out so I will try being more clear. I had 20 ILV sitting in my wallet and decided to stake it about 50 days ago now. I used the Sushi LP. In my dashboard it says that I only have $26,000 staked but at current prices 20 ILV should be $36,000.

[cunning perch]

!lp did you follow this? 👇

[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

[rich seal]

so sILV is on the market worth the same as ILV? thanks for helping me out

[glossy shoal]

Oh i see I basically staked at the absolute worst time then because of imperanent loss. I was staking when ILV was $600 and now that its tripled I should of just been HODL the coin

[cunning perch]

you buy it cheaper (unofficially) but it will hold the value of ILV in the ILV ecosystem. claimed sILV has exactly the same value iof ILV in the ecosystem

[rich seal]

aha ok, so how is possible to sel sILV ? sushiswap only?

[cunning perch]

yep. you proably have staked before the massive pump and lost a lot due to the pumps

[cunning perch]

check this #💬〕general message

[rich seal]

ok, tnx.

[cunning perch]

and it's through Uniswap

[runic barn]

understood... what is the purpose of claiming though? to start the 12 month clock?

[cunning perch]

yep. claiming the rewards = they will start their yearly vesting

[glossy shoal]

so it would of been better for me if ILV stayed around $600 when i first started staking it instead of tripling? damn i was kind of excited this whole time the price has been shooting up while I was locked in.

[cunning perch]

pump = Impermanent Loss because the pool sells the pumping token to keep the balance. And in your case, since ILV had massively pumped, well, there you o 🙂

[wet timber]

Anyone have any idea how much v2 fee’s will be?

[cunning perch]

It won't make that much of difference imo. It is giving you the option to separately claim your rewards than forcing you to claim both each time

[sonic wolf]

i hope cheaper then 4400$ per claim

[cunning perch]

lol. never paid more than $70 for my claims haha

[runic barn]

you keep earning until you claim, then once you claim it gets the 2.0 weight?

[cunning perch]

yes. any yearly locked token will have 2X weight

[worthy peak]

what?? how is it even possible?? my average is 150$ i suppose

[runic barn]

thats interesting-- is there any reason they did it this way? ive never seen a staking quite like that... usually you just earn the reward and withdraw when you want to, get the reward and move on or restake

[cunning perch]

well. you gotta have patience 🙂

[nocturne ferry]

Whats time and day of week? Pretty cheaper

[worthy peak]

do you have stakes in both pools?

[rich seal]

ok, high fees included, hehe 🙂

[unborn parcel]

hey guys... i bought ilv but cant stack it, anyone can help me? 😦

[mellow hull]

Who here's staking rewards are getting crushed from the pool growth?!

[atomic lagoon]

me. but I don't mind as long as ILV goes up!

[mellow hull]

LOL i'm sad that I won't get to my ILV goal but it is nice to watch it go parabolic.

[alpine glade]

Is there anything major other than not paying the 1 gas to upgrade that you would gain from waiting instead of staking now in the ILV pool ?

[mellow hull]

If you wait for version 2 staking then the fees will be lower but you have to lock for 2 years to get 2x.

[cunning perch]

well it depends on your timezone. I mostly claim at 60 Gwei regardless of the time

[cunning perch]

only ILV pool

[junior nacelle]

hi everyone... im new here... does anyone know what the current APY is for the flash + core pools? cant see it unless I connect my wallet on the website... cheers

[worthy peak]

ah, ok, it explains all

[cunning perch]

not really. it will just be one gas to upgrade.

[cunning perch]

lol yeah. well, now you are getting tons more than I am 😄

[cunning perch]

yeah you have to connect. I don't have access to it atm or I would have told you

[unborn parcel]

hey guys... i bought ilv but cant stack it, anyone can help me?

[junior nacelle]

oh ok, but do u know if its possible to see this information without actually connecting a wallet? a little surprised if its not possible

[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]

nope. you gotta connect your wallet

[junior nacelle]

wow, thats very lame lol... would think this is very pertinent information to investors

[scenic crescent]

atm

[junior nacelle]

oh thank you so much! really appreciate that

[cunning perch]

not that much. Many don't even look at it often.

[junior nacelle]

ok, so its gone down by about 100% then from a few months ago, right? do u guys have any idea how much lower the APY will be by, say, 6 months from now?

[cunning perch]

reward distribution drop 3% every 2 months and the more ppl join the lower it goes. LP ALP also depends on the price movement. I suggest reading these:

[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

[unborn parcel]

i have the ilv on binance and dont know how to send em to infinity wallet cause it doesnt work with the token (only with eth)

[cunning perch]

#💬〕general message

[cunning perch]

this is for MetaMask but should be the same for every wallet. Please check the addresses befor sending the tokens

[mental junco]

Hah thanks for the explanations @cunning perch . I guess im better off hodling instead of staking. If prices if coin goes up. I didnt know that the initial staking value stays the same during staking period

[stray epoch]

A question regarding claiming of sILV.. how many times will I pay as fees to claim sILV?

[mental junco]

But after staking period does the value go back to market value?

[cunning perch]

sure. Everyone has to decide what best works for them. I can just give info 🙂

[junior nacelle]

ah thanks so much Arash for the information... im not sure if u were gonna link something at the end of your comment 🙂

[cunning perch]

SLP rewards on V1 incurs 2 gas......ILV pool 1

[cunning perch]

i can give you some stuff to read 😄

[woven ibex]

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

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

[stray epoch]

Ah fk.. so I have to pay gas twice to get my sILV from my SLP pool :/

[junior nacelle]

ohhh didnt realize you made the mod send that, thanks so much will read through everything

[mental junco]

After my "stake" is unlocked(say I stake it for 12 months) I will get it back and the token value will be of market value? So it doesnt really matter unless I want to sell before my lock up?

[gloomy gazelle]

Actually. No. When claiming sILV it’s a single transaction.

[unborn parcel]

Thanxs a lot!

[cunning perch]

ah thx for correcting 😄

[cunning perch]

no worries 🙂

[mellow hull]

no way to know... depends on pool growth and price

[cunning perch]

anytime 🙂

[stray epoch]

Errr.. so one gas fee claiming sILV and 2 gas fees for claiming ILV?

[mellow hull]

No matter what day or time I check in, Arash is always here helping someone... kudos to you!

[delicate cloak]

I haven't claimed sILV yet but was wondering this. So for the upgrade/migration, claiming sILV will be a cheaper last claim before V2 right? That was my plan to add to my bags for land sale anyway. And win/win if it's a cheaper claim.

[cunning perch]

yeah ILV claim in SLP requires two gas on V1. V2 will fix this

[gloomy gazelle]

Yeah. SILV claims are a little bit cheaper. But not much. Just a very slightly lower gas limit I find.

[cunning perch]

good @gloomy gazelle is here. I can go find dinner 😄

[gloomy gazelle]

Haha yeah I’ll be on for 30 minutes maybe.

[cunning perch]

thx, my brain is fried atm. need refreshments lol

[delicate cloak]

Cool, I'll take any win I can get!

[gloomy gazelle]

Looks like ILV is hopping. So our discord will be too

[stray epoch]

Gotchu.. I made a mistake about 3 months ago trying to claim ILV in metamask and I was shocked it asked me for gas twice. I mean wtf

[lyric shuttle]

I heard I need at least 5 ILV to make staking worth?

[atomic lagoon]

NFA... about 2 ILV is already worth it if you are in for more than 6 months lock in staking for ILV pool.

[lyric shuttle]

But everytime I claim the reward I need to pay gas yea? And I can only claim it after 12mths

[stray epoch]

I staked 1 ILV only into slp pool and locked it for 1 year in august..earned almost 3 ILV to date.

[lyric shuttle]

Because I’m thinking of getting more ILV for staking.

[lyric shuttle]

But how much did you spend on gas so far everytime you claim the rewards ?

[gloomy gazelle]

Remember if you don’t want liquidity right NOW there’s no need to make regular sILV claims. Since sILV isn’t compounding the “interest”

[lyric shuttle]

Meaning I can just stake it without claiming the rewards? That way do I still earn?

[stray epoch]

I was trying to claim my ILV to vest that time.. I failed and used up gas because i had only 1 gss fee worth of eth that time..

[gloomy gazelle]

Good practice is to wait to claim until the cost of gas is 1%-5% of the value of what is being vested. That way the ILV will earn more than enough for it to be worth claiming/compounding.

[unborn parcel]

there is a cost to link metalmask wallet to illuvium site?

[gloomy gazelle]

The idea is you don’t want to waste eth on a claim that would have been more effectively used to just BUY more ILV.

[gloomy gazelle]

No

Don’t trust DMs

What the cost is for is the token use approval.

Then the staking transactions

[unborn parcel]

i have the ILV on metalmask now.. but when i link the site with it, it charged me with some eth

[gloomy gazelle]

!staking make sure you are on the correct site.

[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

[unborn parcel]

i dont have eth..i have the ilv so i cant do it right?

[gloomy gazelle]

Correct.

All defi transactions on the ethereum mainnet cost gas paid in eth.

[slow gyro]

Is the % you gain staking locked in when you stake. Or is it continually going down for everyone?

[gloomy gazelle]

Watch the video linked 👆🏽

[gloomy gazelle]

Continually variable

Mostly it does go down. Based on how much value is locked in the pool and the 3% reduction every 2 weeks

Lots of info in pinned documents. Good tools

[lyric shuttle]

What about ILK stake? Is it more worth it than holding ILV.

[slow gyro]

Oh ok thanks. I will check it out

[gloomy gazelle]

ILV staking. Yeah. If you stake enough for it to overcome the gas fees.

This message is pinned. A very useful tool.

Hello everyone

Here is a new version my dashboard.

A LOT has been updated.

• 3 Dashboards now (simplified, rolling 1/3/6/12 months simulation, 1/3y horizon)
• Simulate 4 level of prediction of ILV price + RevDis
• You can access a detailed view of the ILV supply (advanced dahboard)
• Charts to show you your ILV staking, rewards for the 3 years, unlocking, pool growth, supply reduction, etc.
• All data are from Dune and need manual refresh using one of my query (ILV/SLP staking, unstaking, fash pool, silv claim, burn, etc.)
• Land sale simulation + Revenue are highly theoretical as we do not have much info but they can help you simulate

Oh I almost forgot, new fun status : slot, oyster, seal, otter, puffer fish ....... Leviathan .....

This version has been updated so much, feel free to test is and come back to me if you find any bugs
Feel free also to request any change/update/improvement

@ripe steppe is planning an extensive video on how to use this (once everything has been double checked), so stay tuned...

Only thing I would like to add is a auto calculation of the average weight of the pool to have more accurate rewards. (Need some help for that)

My next step will be building a website around this...

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

Sorry @ripe steppe forgot it’d ping you.

[lyric shuttle]

I currently only have 1 ILV. The SLP APY is attractive but I need to buy 0.6ETH in order to exchange to liquidity. I dont know if I should buy more ILV to hold or buy more ETH to stake. Anyone?

[gloomy gazelle]

I’d really think maybe 2 ILV worth of SLP would be better.

The gas costs are so high for SLP process

But maybe 1 ILV worth of SLP is worth it. ILV has pumped so hard

[gloomy gazelle]

Make a copy of this sheet and figure out what the gas fees would cost and if you plan to lock your SLP for 12 months you’ll likely overcome the fees easily. https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit?usp=sharing especially if you are bullish long term for eth and ILV.

[burnt hill]

I'm watching something wierd happening, maybe it's a bug on my side. But last month i was stacking on SLP pool with 1.2 weight (around 300% apy). Over 22 days i've farmed around 5.1 ILV, after i claimed those rewards, my SLP was stacked again but this time for weight 2.0 (around 490% apy). But after farming for 19 days i'm having almost the same rewards 6 ILV. Shouldn't my rewards be higher? Since i've changed from 300% apy to 490% apy ?

[magic laurel]

The apy is the dollar value going up I believe in ur case, so same ish ilv more value

[next ruin]

You went from earning 0.23 to 0.32 ILV per day on your stake. Close to a 50% increase vs the ~60% you would expect given the highly flawed APY display. APY is a moving target with a lot of variables, so it's tough to prove out exact numbers based on displayed info.

[chilly grotto]

I have some sILV in my wallet can i stake this

[next ruin]

sILV cannot be staked, it's only use to to purchase from the DAO.

[chilly grotto]

ok thanks

[lyric shuttle]

Thank you! I'll take a look now!

[burnt hill]

Ignoring the apy, just looking into my stacking weight, moving from 1.2 to 2.0, shouldn't be at least 80% increase ?

[gloomy gazelle]

But there’s a ton of new deposits so your percentage of the pool rewards is decreasing.

[next ruin]

No, it would be more like a 66% increase. (2/1.2=1.66) But additional stakes and natural decrease in rewards emissions drop that further. 66% would be the absolute max increase available just from the weight change.

[burnt hill]

Got it, so the 50% is probably the correct weight taking everything into consideration

[next ruin]

Yeah, it passes the "sniff test" for me. 😉

[burnt hill]

Thanks for the little brainstorm here 😉

[next ruin]

https://tenor.com/view/dubsado-christian-happy-to-help-gif-18478965

[lyric shuttle]

Given that the current APY (fixed staking) for SLP is 486% and I stake 1ILV/0.4ETH for 12 months and only claiming my rewards at the end of my 12mths period. What's the estimated ILV I will get 12months later?

[gloomy gazelle]

I mean the apy will go down. Plus IL. But you take you dollar investment and x4.86

So yeah. Big gains.

But it won’t be THAT much honestly.

[wet timber]

Say you have 40 ilv unlocked which was your initial deposit, can you choose to withdraw 15 ilv and lock the other 25 up for 1 year or when you withdraw does it claim all 40?

[gloomy gazelle]

The apy will go down during the next 12 months.

[next ruin]

If absolutely NOTHING changed... 9.72 ILV in rewards. It won't be that much in reality though.

[gloomy gazelle]

You can choose how much you withdraw

[wet timber]

Thank god

[gloomy gazelle]

😂

[lyric shuttle]

Yeap I understand that the APY will go down.

I guess i should just keep my 1ILV as its too little to use for staking

[gloomy gazelle]

At these prices that’s not correct.

Even realizing 12 months of 20% apy on 1 token @radiant gorge should get close to overcoming the gas fees for staking.

[lyric shuttle]

But it will only be enough to cover gas? :/

[gloomy gazelle]

There’s no way to know at this time what the situation will be in 12 months. By then token price may be higher. Or lower. You’ll probably have received some revdis rewards as well.

In 12 months it may be on L2 so the fees could be lower still.

[mental junco]

I am kinda in the same position as you, contemplating whether I should stake or not which below 1 ILV. Where are you landing?

[unborn parcel]

i just got emptied my wallet from mods

pelican22

[alpine glade]

All DMs are scams guys

[next ruin]

Never trust DMs, people impersonate mods all the time. Head over to #🚨❗〕report-scammers and provide the full ID#.

[unborn parcel]

and nobody is doing anything to that?

[alpine glade]

Everyone is advised to turn DMs off. Mods have been clear in that they will never DM anybody and that all DM are potential scams

[next ruin]

They are banning everyone who gets reported and they have measures in place to prevent bots. Not sure what else they can do other than warn people (which they do, constantly).

[unborn parcel]

can i do somethign to get the money back?

[atomic lagoon]

he did specifically mention don't trust DM @unborn parcel
i am sorry for your loss though.

[next ruin]

If the funds have left your wallet, probably not. Did you give your seed phrase or connect to a sketchy site? Either way, I wouldn't use that wallet anymore.

[unborn parcel]

my MM wallet or the one both mods told me to add?

[next ruin]

Not sure what the "other wallet" is, but an actual mod didn't tell you to add it. Did you use your MM seed phrase or otherwise link your MM wallet to this "other wallet" or its website?

[unborn parcel]

celo wallet

yes i did.. the phrase to add to the

[gloomy gazelle]

They are impersonators.

Don’t trust people that DM you.

We don’t do that.

!scam

[woven ibex]

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

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

[next ruin]

If you used your MM seed phrase, absolutely don't use that MM wallet again. Scammer has full access now.

[unborn parcel]

can i delete it?

[unborn parcel]

you did it -.-

[atomic quartz]

Can I have an explain on the way the APY for LP staking works? I’ve been watching if go up and down with more TLV. I thought TLV was a big factor @gloomy gazelle

[next ruin]

Check the ID#, it is not the same.

[gloomy gazelle]

Bro. Look at my profile. It’s not even the same.

[unborn parcel]

ya i already seen it

ima DM u

[honest herald]

Hi all, got 1 ILV in my metamask on ETH main net. I wish to stake (locked, 52 weeks). Is it better to wait for staking V2 considering gas fees? How much cheaper will V2 be? And do I need to take any action to migrate tokens to V2?

[atomic lagoon]

the gas fee won't be any different. just make sure when the gwei is the lowest to save cost on gas fee .when v2 come you just need to upgrade.

[honest herald]

Thanks! And upgrading will cost gas again but after that should be low to claim since it's on V2?

[atomic lagoon]

i don't think upgrading will cost gas. but I am not sure. you can check out the iip-proposal in the pinned post to understand v2 better. V2 will not give you low gas fee on claiming as well. It will just not force you to claim if you want to add in additional stake.

[honest herald]

Thanks! Guess I'll just have to find a low gas fee moment and start staking then :)

[timid flare]

can someone help me? I stakes ILV about a month ago into the 12 month lock and when I connect my wallet, it shows zero balance but still has the history of the staked transaction. is there something I need to refesh?

[atomic lagoon]

in which website did you stake?

[magic laurel]

rip u got scammed

[worthy peak]

when you stake you send your ILV or SLP to the smarcontract, thats why you see nothing in your wallet. all info about your stake can be seen on the staking part of illuvium.io. if the site doesn't show anything, try to clear cache. Start with Ctrl-F5, may be it will be enough

[charred ravine]

Been tracking my progression since I started on Oct 30 - https://twitter.com/_JDavitt/status/1465715077433245698?s=20

Davitt (@_JDavitt)

First full month of staking with $ILV using $SLP and $ETH, and may I say the rewards are growing nicely. Illuvium is up almost double since I started too, nice little boost! Super hyped https://t.co/zioFogXBFp

Twitter · Nov 30, 2021, 4:11 PM

pretty hyped how its going so far 🙂

[charred ravine]

connect your ETH wallet to the staking page on Illuvium's website and youll see your staking amount

[alpine glade]

Would claiming SLP rewards on V2 still have these 2 fees on vetemors calculator? or does it get rid of one

[elder dawn]

Vetemor's fee estimator will completely change with V2. We'll need to see how much it changes, but supposed to be smaller and a single transaction to claim from both pools.

[alpine glade]

I am not staked on SLP at the moment so I am a bit confused. Would claiming SLP rewards right now only incur the gas on the second row? or do you pay the third row even if you are not staked on the ILV pool?

[next ruin]

If you only staked SLP and have not claimed yet it is the second row only. If you have previously claimed ILV rewards, you will pay both.

[elder dawn]

Do you have any ILV in the ILV pool, such as from claiming from the SLP before? If you do, it is two transactions currently. Only your first claim from the SLP incurs just the SLP reward claim fee. After that, is it two transactions (until V2)

[alpine glade]

I see, I do not have any on the ILV pool but if I do not plan to claim for at least a month after staking now seems like waiting for V2 would make more sense at this point. It would be reasonable to assume the claiming on V2 will be closer to the second row correct? slightly more perhaps but not close to the third row for having to make 2 claims currently

[elder dawn]

NFA and I don't know anything officially, but it seems V2 is coming pretty quickly. Unless you're missing out on major compounding of rewards, I would consider waiting at this point. We don't have definitive numbers yet on how different fees will be, just that they will be lower.

[verbal heron]

https://gfycat.com/glitteringgrimyamericanbittern

[alpine glade]

Thanks!

[inner cove]

when i have this in the vesting section, can i withdraw this amount and add to sushi pool on sushiswap? will it cost fees to withdraw and will it be withdrawn to metamask then, right?

[finite eagle]

Definitely fees. I'm assuming a fee out, a swap fee and a liquidity fee. Doing this myself at the moment so I can inform once it is done

[umbral crane]

random question bu does eth count towards teh apy. if i put 10k eth and 10k ilv am i getting 500% on 10k or 20k

[split haven]

Hi guys..is it possible to stake directly via Ledger (WalletConnect)?? Or it is just possible to use ledger with metamask?

[white plover]

Any idea when v2 staking changes are predicted?

[next ruin]

Sometime mid-December most likely based on what we've heard in interviews about timeline of the audit.

[elder dawn]

Yes, the total value of the SLP (ETH + ILV) is counted. Just know APY and rewards are variable as people join/leave the pool, and the SLP APY is impacted by the price of ILV (hence why it's higher today)

[white plover]

Thanks

[umbral crane]

Ok thx

[unkempt oak]

Stoked for V2 staking!

[polar kiln]

When is v2?

[delicate plaza]

No date but hopefully in the 2-4 week time range

[polar kiln]

good enough to work with thanks!

[novel snow]

can someone confirm my understanding? you don’t have to claim v1 rewards in order to upgrade, but you do have to in order to migrate. Also, you will still receive yield as long as you upgrade, you do not need to migrate

[verbal heron]

Whats the difference between v1 and v2?

[unkempt oak]

Read the staking document proposal in #809220563397902346 it’s really helpful. Basically much lower gas fees and easier to use

[verbal heron]

Nice 💯
I already think V1 is pretty easy to use

[turbid pasture]

i locked my LP for 1 year on V1, i'm hoping ethereum upgrade next year would help reduce gas cost

[unkempt oak]

It's not bad but the claiming of rewards requires multiple transactions and gas fees if you are staked in more than one pool. This will go away in V2. Plus V2 will have very low gas fees compared to V1.

[true spire]

Ethereum 2.0, has absolutely no impact on gas cost. The only fix are layer 2’s and sharding(Est.2023)

[brisk surge]

Ethereum 2 is just much faster at processing

Something like 100k per minute or something

[glass hedge]

the gas fee is high , i being waiting to get in since three days ago...

[true spire]

No, Ethereum 2.0 next year does not increase transaction per second. The only thing that will make ethereum faster is sharding which is in 2023 but in the mean time people will use layer 2

[clear cloak]

What does 78% weight mean with 0.5 SLP locked for 1 year ?

[strong forge]

Does it matter what we get in at

For staking pool. Like does it matter If I get in at 1500 vs 1800

[simple arch]

The weight is 2.0 for 1 year and decreases if you lock for shorter. Where do you see 78%?

[strong forge]

Will it eventually be the same

[simple arch]

The only difference is that you pay more or less for your initial tokens. But you earn the same yield regardless of the price you buy each token at.

[finite eagle]

Anyone have any experience with impermanent loss?

I guess that’s my biggest concern.

Is flexible on SLP or locked on ILV better?

[clear cloak]

I thought the same

Here it is

[cyan rampart]

There's an IL calculator pinned in this channel. Play around with it, and decide for yourself what investment meets your criteria best.

[clear cloak]

Is this the weight of the SLP pool or something and not the weight of the actual stake?

[lilac agate]

Does 1 ILV = 1 sILV

[gloomy gazelle]

!sILV it will when used to pay for illuvium stuff

[woven ibex]

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

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

[simple arch]

Ah I see now. That’s different, this means of all distribution 78% is to SLP, then if you click more details on ILV you’ll see 19%. The rest is reserved for the flash pools

[gloomy gazelle]

The percentages are a bit wonky. But yeah that’s what it means.

[lilac raptor]

Guys im rairly new at this crypto i am doing some research on what to buy into. even bought a couple new laptops to play p2e games with my ten year old.

I staked about $95 of ethereum and have about .25 ILV rewards. why can in not claim? and will i be able to get my ethereum back and if so when? i saw it wasnt locked si i thihgt that there wasnt a time limit on the unstaking. If anyone coukd fill me in would be greatly appreciated. I did look through a bunch of chats here as well but....

[autumn cloak]

There is not any ETH staking for Illuvium. Are you sure you did it correctly?

[lilac raptor]

If we can put people on the moon you would think we could maybe put a warning on all wallets and DEXs saying that the tokens dont Jive or match and not let you even have the option to loose your money forever. How can you do your homework to see if the coins are compatible in meta. I want to play some games but scared to even transfer into wallet in feat of loosing it its the most jumping through hoops ive ever seen. like really

[sacred cosmos]

This is troublesome. Theres no eth staking are you sure you are on the official website for staking? Please dont say you clicked a link from a DM

[autumn cloak]

Unfortunately it doesn't work that way. There are thousands of scammers out their plotting the best way to get at your money, and sadly for those new to crypto, it is easy to fall into their traps. Best advice I can give is to always ask questions here first, there are lots ready to help, and to NEVER trust DM's. Sorry if you lost money. I know that sucks

[cyan rampart]

Don't transfer anything if you're uncomfortable. That's the easiest way to lose your money.

If you have a specific question about something, people here can help, but it's impractical to change the way all DEX and wallets operate.

Like Kryffin said, Illuvium has never had ETH staking. There was a scam circulating for quite a while advertising ETH staking. The team will never DM you anything related to staking, or promos, or minting etc.

It's generally advisable to turn DM's off in Discord on any crypto Discord, 99.999% of all DMs are scams.

[lilac raptor]

crap let me check. thought i had a choice of ether

ty I do know that I havent dropped even my public address yeet cuz um paranoid. I almost lost all my shib to a scam so now im traumaatized.

How can i post a pic of an email i just sent myself to show u guys

[autumn cloak]

Don't think you can post it here until you level up; if you'd like you can send it to me in a DM and I can look at it for you

[cyan rampart]

Why would you post a picture of it if you sent it to yourself? You can copy and paste it, but make sure to not dox yourself - there are like 220k people in this Discord.

[lilac raptor]

i know guys tty for looking out ist only shows the peice of either a wallet or address. I copied and pasted screenshot from my phone im on laptop now . let me see if i can lof out of my wallet and see if the link will work?

[brisk surge]

Is there a calculator here to help me estimate the cost to swap on sushi?

[cyan rampart]

#🥩〕staking message

[lilac raptor]

that not gonna work think i need to level up somehow. Im not a social netwok kinda dude. I am a good dude though u guys are too. i can only imagine the babysitting u gusy have to put up with.😆

[cyan rampart]

It's probably easier and safer to just describe what you're trying to share anyways 😛 Feel free to ask if you have questions about stuff

[lilac agate]

So let's say I claim sILV. I get that right away? Is that kind of a loophole, since I can just puchase game assets and sell it?

[cyan rampart]

Not really a loophole - the intent of sILV is that you can use it to play the game. You can also use it to purchase land in the upcoming land sale.

Hence it's unlocked as soon as you claim it, so you can spend it.

People just happen to also be able to trade it.

[lilac agate]

Yeaaa, I guess my question is that you can sell game assets for ETH or USD or whatever right? is that what the illuvidex will be?

[next ruin]

You won't be able to buy things from other players on the dex with sILV. You can buy land at auction, Illuvatar "crates" and pay for gameplay.

[lilac agate]

Oh so theres not like any player to player market

[cyan rampart]

All player to player trading will be done in ETH.

[autumn cloak]

Speaking of Illuvatars, any news on that? I haven't heard anything in awhile

[next ruin]

https://tenor.com/view/same-office-sad-gif-19573853

[lilac agate]

I have so many questions lmao I think I'm going to head over to the 'ask us anything' channel. Thanks for the response guys

[near adder]

so if i transfer sushi to my trustwallet, is it in the eth network to stake with ilv ?

[atomic lagoon]

staking is on ETH network, yes.

[near adder]

sushi lp is different from sushi ?

[next ruin]

Sushi as in the Sushi token? Yeah. The SLP you stake via Illuvium is the token you get for providing ILV/ETH liquidity on SushiSwap.

[near adder]

i think i need a youtube video on how to do that haha

i bought sushi and sent it to my trust wallet.. and thought i could stake it now

i dont understand the staking in sushi lp ...

[next ruin]

Ask and you shall receive. #🥩〕staking message

[simple arch]

Read the staking guide linked on the Illuvium website, it sounds like you’re a little confused. Sushi LP just means a pool of ILV and ETH on Sushiswap

[lilac raptor]

WELL I WAS JUST DEF SCAMMED SO IF ANY OF YOU WANT TO STAY AWAY FROM THIS WEBSITE STAY AWAY AND REPORT IT SOMEHOW?!?!?!?! Ill let Blickter give the big warning and show the website so people dont click it thinking its being promoted think he has it now but prob busy for a few.

[simple arch]

https://tenor.com/view/rug-pull-gif-21378865

[autumn cloak]

Hey forgot to tell you: if you can report the person who DM'ed you the link in #🚨❗〕report-scammers they can ban them from the server

[next ruin]

Sorry to hear that, man.

[near adder]

so it HAS to be eth / ilv right ?

[autumn cloak]

For SLP? Yes

[near adder]

cant do it with sushi tokens ... hahaha

[brisk surge]

You get the SLP when you provide liquidity for both ILV and ETH

[lilac raptor]

luckily it was under a hundred bucks but now im worried about me having a fake extension and them having my phrase and all my mobile DEX passwords or whatever addresses. anyone have a reall answer? should i cash out and staart all over again on like 7 different apps on my phone and go through buying it all again. or send to a friend and start another account on everything and have him send it back?

Sorry i know this is prob a topic for somwhere else but it stated with staking and faking illuvium FML

dont thinkn it was a dm i thought i just searched it but maybe ill see if i can find it

[near adder]

tony can i dm you?

[brisk surge]

Yeah that's fine

[lilac raptor]

anyway it was __(DO NOT GO HERE IT IS A SCAM) - Illuvium DOT COM -SLASH-STAKING (SCAMMY SCAM SCAM)

[alpine glade]

What’s the cheapest way to buy ETH and send it to MetaMask for SLP staking? I’ve done it with Binance.us before but I think it was like 10 days before I could send it. Are there any CEXs that allow instant transfers ?

[atomic lagoon]

it can instant transfer from my binance to my metamask in less than 5 minutes. not sure why it took you 10 days.

[hoary sorrel]

Hey guys, I apologise if this has been asked 100 times already. I have been reading and can't find a straight answer.

I have SLP staked, I have never claimed rewards. What do I need to do to continue receiving rewards in regard to V2.

[alpine glade]

Is it Binance.us? I am not sure, every time I have bought any crypto on Binance I’ve had a hold for 7-10 days before I can transfer

[atomic lagoon]

you can check out the iip proposal in the latest message. you just need to upgrade it. how to upgrade, the Dev will tell us in due time so just wait. you will see a lot of youtube guides when it comes out. so don't worry

[atomic lagoon]

not Binance.us. May be you can try Crypto.com or KuCoin.

[hoary sorrel]

Ok, yeah I read it. Thanks

[urban vine]

Hi guys. Does anyone have the calculator (Excel) that can pass me on ILV / ETH

Updated

[brisk surge]

Have you checked the pinned messages?

[urban vine]

Yes. But I think it is not up to date

[crystal dagger]

Hey @brisk surge quick q, is there anywhere we can figure out how much ILV is claimable but hasn't been converted into either ILV or sILV? The staking dApp shows unlocked ILV and sILV but not claimable ILV.

[brisk surge]

You can see the amount of sILV currently by looking up the contract on etherscan

!contract

[woven ibex]

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

[crystal dagger]

Oh I meant, is there anyway we can figure out "how much ILV/sILV that is claimable but has not been unlocked yet".

Another way to figure this out is - could you share the address of the staking contract?

I think I found it: 0x8b4d8443a0229349a9892d4f7cbe89ef5f843f72

https://etherscan.io/address/0x8b4d8443a0229349a9892d4f7cbe89ef5f843f72#code

[elder dawn]

It's about 130k unclaimed rewards right now. See my dashboard pinned (sept 21)

[crystal dagger]

ah thank you for sharing that -> makes sense to just subtract total issued rewards minus whatever has been claimed

[nocturne granite]

Where can I see/compute for the equivalent of SLP to ILV/ETH? The sushiswap remove won't show unless it's in your wallet

[elder dawn]

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

[mint dock]

it is still worth staking in Sushi LP?

[valid kite]

Anyone know why the second transaction to claim my SLP is freezing my trust wallet

[nocturne granite]

Thanks!

[subtle spruce]

What’s gonna happen if I don’t upgrade to v2 ?

[simple arch]

You’ll stop earning yield a week or two after migration

[simple arch]

It depends on many things: what price did you buy tokens at, what are your goals, do you already have ETH, are you in the game long term etc.

But there is still a high yield on the SLP so gains are to be had. But gas can be high, impermanent loss and all time highs are things to consider.

Depending on the size of your investment too, the answer could be different for you…

[mint dock]

thank you! i only have 1.036 ILV to invest so im not sure if its worth it I bought it when it was $989 and not sure if I should just pull it out or stake it thank you tho

[simple arch]

Given it’s increased in value so quickly in the last month you’ve probably been better off just holding ILV. But who knows if that will continue… Staking is great though and V2 staking comes out this month I believe so maybe wait on that then consider…

[mint dock]

thank you for the great advice ill do just that! I got so much to learn haha thanks

[simple arch]

No worries. Out of interest, did you get involved after seeing the gameplay trailer? Price popped to 1k pretty much as it was released

[mint dock]

I did haha. Saw it then looked into it a little more then joined the discord and everything looked so solid that I knew this would be huge in the future. I plan on playing religiously

[simple arch]

That’s so cool! Me too. Crazy how much has happened in just the last month

[warped oxide]

hey guys! new around here, been looking to buy into ILV, i've heard that the difference between ILV and SILV is that SILV is locked to only be usable in- game, is that right?

[elder dawn]

ILV is the governance token. sILV is a staking reward that can be used in transactions with the dao.
!silv

[warped oxide]

!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.

[warped oxide]

i've never used sushiswap before, does it cost gas fees to stake for SLP?

[cursive nimbus]

yes - gas to connect wallet + gas to provide liquidity

[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.

[hybrid tundra]

Rewards auto distribution or gas needed?

[gloomy gazelle]

!claim gas needed

[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.

[vital kayak]

I need advice friends. My husband wants to claim our 8 ILV and sell it as sILV to restake 2 ILV (.8 SLP) thinking that will generate 2 extra ILV/month. Does that sound right?
We’ll have 14 sILV for land sale, just to get T1 and T2’s

[alpine glade]

When you claim rewards at different times they create separate vesting pools correct? How does claiming work on those? Do you pay gas for each set of rewards or can you claim all at once

[hybrid tundra]

8 ilv gives 2ilv per month?

[vital kayak]

Point 8 “ .8”

Staking 2 ILV into SLP creates .8 pool token

[gentle axle]

Hey guys, I am trying to convince my dad to lock his stake and he asked me this question: "Can I loose it? It's locked, what if Illuvium run away with it or I cannot remove it after 1 year?". I told him that it's a smart contract and it's not possible for anyone to steal it as long as your wallet is secure, and you cannot loose your initial investment of SLP you locked. Could you please tell me if that's the way to explain him? He is 67 and not exactly technology literate

[hybrid tundra]

Any idea on yields like how much rewards for 1ilv staked?

[vital kayak]

In my experience, at 400% APY, it’s about 1 ILV/ month per 1 ILV sushi stake ( 0.4 pool token)

[hybrid tundra]

👍 any guide for staking?

[vital kayak]

@jovial moat is awesome! https://youtu.be/GJvnsCYFVXA

[hybrid tundra]

👍

[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

[vital kayak]

@gloomy gazelle do you know what the average ILV reward is per month per 1 ILV ( .4 ) sushi pool token staked?

[gloomy gazelle]

Not off my head. I’d need to use one of the pinned spreadsheets

Not easy to do on my phone

I’ll try though.

[gloomy gazelle]

So you are asking about .4 SLP tokens?

[vital kayak]

Yes, the equivalent of 1 ILV staked in sushi 52 weeks, that’s about 1 ILV reward a month, right?

[gloomy gazelle]

I think it says 0.023 ILV per day. Or maybe 0.057 the sheet is not clear to me. I may have input the wrong thing.

[vital kayak]

Oh someone broke it down in zero channel

[alpine glade]

@gloomy gazelle Could you help me with this?