🥩〕staking

[jovial root]

https://www.blocknative.com/gas-estimator

I personally wait for it to be 2xILV minimum

Great work.
Thats how the community grows and improves! 👍

[proud sigil]

Hey so my mind is being blown... if there are 5,000,000 ILV that have been distributed already and the staking rewards are at 400%. A shit load of other variable in this... but... Assuming these have been staking for 1 year @ 400%, why have not all of the remaining tokens been distributed? This would be 20,000,000 tokens extra but there is only 5,000,000 tokens left to give away.

[worthy peak]

not all of 5 mil take part in the farming, only 1 mil which was sold to public in Balancer sales. 400% is only in SLP pool, not everyone staked there from those 1 mil.

[proud sigil]

Thanks @worthy peak . Why can't the initial 4 million take place in the farming? Are you sure it's only from the public sale? Is this in writing from the team somewhere?

[worthy peak]

there must be, not sure exactly where though, I am not very bothered with the question why it is what it is, i see those lucrative % and i use them Its just magic internet money

Check tokenomiks article and applied iips, somewhere must be that info

[proud sigil]

I don't mind if it is, I'm just confused as to how the rate can keep sustaining a 97% each period considering how many coins must be being created.

The website says there is 1,691,010,653 being staked right now. Let's assume 50% of this is in SLP. This means there is $845 million being staked in SLP at a current rate of 400%. After 1 year, this would mean an extra 2 million tokens into the ecosystem. They note that they have 4 million coins in total to be yield farmed. I'm just wondering how they set a rate of 97% drop every 2 weeks when it seems like this rate would have to be dynamic in order to make the maths work out. You can't just keep giving out the tokens at these rates or you will go over the distribution.

[worthy peak]

why 50% in SLP? pools info says it is 439578177, which is 26%

and 400% is no stable, it declines with time, 2% every 2 weeks if i am correct

a lot of initial stakers considered SLP staking very risky due to unknown future impermanent loss and also the share of SLP, so the chose stability of ILV staking, so SLP is not that huge.

[proud sigil]

50% was an assumption, I think you got that figure from the staking area - smart. I was just using the dashboard. I'll re-do the calcs. It declines to 97% of previous value every 2 weeks.

[proud sigil]

Assuming the same % of SLP and ILV that is currently staked is staked for the next 10 years, they go slightly over the 4 million Yield distribution that is in their Tokenomics article. The APY at that stage is still 67% on the SLP token so plenty of room to keep distributing... So I'm really not sure how they can fix the rate at "97% each period" rather than making the APY depend on how many people are staking & how many coins are left. To me it has to be a dynamic number unless you distribute over 4 million. Can anyone explain this to me?

[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

[jovial root]

#💰〕token message

[rancid laurel]

A question. I held an SLP locked stake for 3 months. Today the lock period ended. If I leave this LP without withdrawing, is it still yielding at the same rate as before or not?

[gentle axle]

Do you guys know if what happened with the Sushi team implosion will affect us in SLP?

[opal tulip]

Yes, that is the whole point of locked staking. The rates remained.

[rancid laurel]

Ok. But even after if the period ends if i don't withdraw it?

[opal tulip]

I remembered the reward yield or distribution only lasts 3 years. Subsequently, it will be purely revenue distribution.

[naive kraken]

Help, need clarification about staking ILV. Is Staking ILV in Illuvium involved in the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain to earn a reward?
Or our ILV when staking doesn't involve any process and we just receive a reward just because we hold ILV (not selling it)?

Can someone who has knowledge about this help me? I hope what i ask is make sense

[atomic lagoon]

https://youtu.be/C6YugU4zZr4
Have you watched this? May be this will help answer your questions.

[coral pike]

https://medium.com/illuvium/28-everything-you-need-to-know-about-staking-ilv-6669594b2fac

[cyan rampart]

It'll continue to generate yield, yes, at the same rate you originally locked it at.

[jolly rain]

What is the current estimation of V2 launch ?

[cyan rampart]

Staking ILV isn't a part of any sort of blockchain validation. ILV isn't its' own blockchain, it's a token on the Ethereum network, which has its' own validation for security.

[cyan rampart]

It could be anywhere from a week to a month depending how the smart contract audit goes. Basically it'll be up ASAP.

[jolly rain]

OK thank you

[rancid laurel]

Ty man.

[brisk surge]

can I stake the ILV on my ledger?

[cunning perch]

Not on your Ledger. You can connect it to MetaMask and then use the MM-Ledger wallet

[ionic heron]

in staking v2, am i able to xsfer my staked "locked" slp from MM wallet to MM-ledger wallet ?

[cunning perch]

Only after they are unlocked (migrated). There will be a guide how to do that later.

[brisk surge]

why when I collect my wallet It doesn't see my ledger integrated with mm

[cunning perch]

When you add Ledger to MM it gives you a new wallet. A new wallet will be added to MM under the default name “Ledger 1” and will have its own address. You can keep tokens there or do whatever you do in DeFi through it

[coral pike]

@brisk surge this may help it helped me i use a ledger https://www.ledger.com/academy/security/the-safest-way-to-use-metamask

[brisk surge]

thank you veru much

[nocturne imp]

i just watched scoriox on youtube. he keep saying staking and revdis? do stakers at Non LP are qualified?

[cyan rampart]

Staked ILV is eligible for revdis. That's 100% of ILV only stakes, or 50% of the value of SLP stakes (as SLP stakes are half ETH and half ILV).

[nocturne imp]

so both core pools have revdis. nice.

[rain belfry]

what is revdis

[final steppe]

Hey Cab! See below-- it's pretty stellar 🤩

[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.

[rain belfry]

so basically cause i staked my illvium ill get this sweet

[final steppe]

Correct! Once the revenues start coming in from events such as the land sale, illuvitar sale, and of course… game launch and all of those transactions in game!

[rain belfry]

cause i staked my 1 illvium for the year when it ends do i have to pay gas to stake it another year ?

lol on welfare could only afford one and 151 days in the stakeing pool

illuviuum was my first ever stake lolam still a newb learning

[inland maple]

If migrate my unlocked v1 to v2 will it cost me gas again?

[cunning perch]

https://tenor.com/view/of-course-anchorman-ben-stiller-nodding-gif-4470090

[cunning perch]

If you have upgraded the pool by then, you can migrate directly to V2. If not, just let them sit there. They will be unlocked and receive Yield and RevDis

[true vector]

hey guys stop staking my 400%apy just went down to 399%

[livid light]

Just have to wait for the ILV price to go up 🙂

[silent cedar]

https://tenor.com/view/john-candy-great-outdoors-smile-gif-13515511

[vagrant oar]

ha!

[noble coral]

When I claim ilv and wait the 12 month lock period does it compound? And will I be able to take out the original amount vested? 👍

[final steppe]

Hey Sparks! As soon as you claim ILV rewards, they are vested in the ILV Core Pool for that 12 month period, so yup! You'll compound your rewards and earn whatever the current APY of the ILV Core Pool is 🙂

[stoic fjord]

Anybody know that when we get redivs we don't need to claim them or do anything at all to sell them?

[noble coral]

Thanks so much for your help. 👍 and will I be able to just take the amount staked (not rewards) out without any timer?

[brisk surge]

You will need to do one transaction to claim the ILV into your wallet.

[dense mountain]

Hey legends , can anyone point me in the direction to find an SLP staking tutorial ?

[coral pike]

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

https://medium.com/illuvium/28-everything-you-need-to-know-about-staking-ilv-6669594b2fac

[junior hollow]

Has anyone gotten an "insufficent funds for intrinsic transaction" error when claiming rewards? I had plenty of funds to cover gass fees. The ILV claim was sucessful but SLP claim failed and lost the gas fee.

[brisk surge]

Mind a help?

[thorny lantern]

When a locked period of a stake is finished, does it stay staked or do you have to pay gas and restake it if you want it to stay staked?

[mighty rover]

Hello, I've read about waiting for V2 before participating in staking due to gas fees. Is there an estimate for the gas fees in V1 vs gas fees in V2?

[inner estuary]

Trying to claim my SLP rewards and the MetaMask transaction has been pending for approx 5 minutes. Is this common? I’m sure last time it was almost instant, but could be mistaken

[delicate plaza]

Does it cost more in Gas to claim rewards if you have multiple stake deposits compared to a single deposit ? (All in the same pool)

[atomic lagoon]

Nope. It only depends on gwei. And the frequency of how many time u claim as each time u need to pay gas.

[keen ridge]

What is everyones opinions on adding to slp now, or waiting for bear and loading up?

[white plover]

any timeline on v2 migration ?

[coral pike]

not at the moment still waiting for news

[hallow lion]

what is this message in the stacking page : The pool will remain active for 28 days and there is no lock

does it mean u can only stake for that long? and i can only stake eth and BnB not ILV?

[coral pike]

@hallow lion the only place you should be staking Illuvium is here https://staking.illuvium.io/ any other place is a scam

[hallow lion]

yeah it was a scam website

but it looked exactly similar but it was .com not .io

[grizzled kindle]

Is there anyway to only claim a little bit in SILV and not all of it

[lament harness]

I have a stake that ended. Got some SLP I can withdraw (it's just sitting there now that the lockup time is up). Wondering if it makes sense to withdraw, select ILV for rewards, then re-stake in the core flexible pool (yes, I know the flexible is supposed to disappear in v2)
Thoughts appreciated, thanks.

[lament harness]

From what I've seen, in a given action no, it is either one or the other.

[brisk surge]

You can just leave it there and it keeps earning rewards.

[lament harness]

ok, that's what I wasn't sure of - so it earns at the regular flexible rate?

[brisk surge]

It keeps whatever weight you staked it at initially.

[lament harness]

I didn't think that was true, once the lockup period was done. But if so, ok, that's easy

[brisk surge]

Yeah itll keep the weight until you withdraw it. You should be able to migrate it to V2 and it will keep the weight even.

[lament harness]

Thanks, that's another wrinkle I wasn't sure of.

So may wait until V2, migrate, then withdraw it whenever.

[small needle]

What is the staking website? Apr? And gas fee please?

[atomic lagoon]

illuvium.io
Apr around 30+ for IlV around 400 for SLP. Gas fee depends on gwei
Check pinned messages for more info.

[small needle]

What is SLP?

[atomic lagoon]

Sushi liquidity Pool

[small needle]

So staking on sushiswap?

[atomic lagoon]

You can check this out for more info

https://youtu.be/C6YugU4zZr4

[small needle]

Thanks!

[grizzled kindle]

silv is worth $1200 right?

[atomic lagoon]

For buying land, it will be the same price as ILV. If you swap on uniswap, I think it is around $400+

[grizzled kindle]

Ah alright

[small needle]

What is the good way to stake? Ilv only or the SLP?

[atomic lagoon]

If you don’t mind the impermanent loss SLP is the way to go. Again NFA.

[grizzled kindle]

What’s the impermanent loss thingy

[atomic lagoon]

This might help explains

https://youtu.be/8XJ1MSTEuU0

[keen ridge]

gas is beautiful rn

[brisk surge]

Yeah pretty good price

[final steppe]

Sorry about the delay, friend! I went out for the evening! But, at the moment, you can stake with the “flexible” option which means no lock period and you can withdraw when you want. The APY/rewards are much lower for that.

But also keep in mind that with V2 of staking getting implemented soon, that flexible option will likely no longer be available if the proposal passes. All stakes will have a minimum lock period of 1 month.

[sacred cosmos]

Sounds like you didnt have enough eth for max limit of the transaction.

[delicate plaza]

Gwei crazy low right now!

[supple lintel]

hello a

[bright sail]

Any estimate on how much cheaper V2 stake will be?

[drowsy galleon]

Hey guys! What amount of ILV in rewards is necessary to claim or is there a time period e.g. once a month ?

And if I'm planning to claim sILV should I claim it when possible or better keep it in rewards while there's not yet possibility to use it ?

[atomic lagoon]

You can claim whenever you want. But most of us only claim when the gas fee is about 1%-5% of the reward.

[drowsy galleon]

Well my rewards are below 0.00... and both claim buttons are inactive. I know it's probably not a wise idea to claim now, but that proves my point that there is a limit on how little can you claim.

[ionic heron]

Hi all, i wish to stake more slp now. But it ask me to claim my existing slp rewards first. Which dont make economical sense as gas fee is about half of my rewards. Is there anyway i cant dont claim my rewards and stake additional slp?

[proud moth]

this is the only way

[cunning perch]

On V1, claiming SLP rewards requires you to claim ILV pool first. V2 will fix this. This is the reason: #🥩〕staking message

[ionic heron]

I only staking slp for now. So i suppose is better i wait for v2 to stake my slp?

[cunning perch]

You can wait for V2, update the pool once, and then claim. This can be a better choice.

[fading kettle]

I have some SLP unlocking in around a week, I'm planning to restake it for 2x the weight, what's the process behind restaking it? Gas fees?

[atomic lagoon]

withdraw (gas)
stake & claim (gas)
it might be better to wait for v2, otherwise upgrade to v2 (gas)

[opal tulip]

The process to change the weight is a restaking. No, you do not withdraw your rewards. Unstaking will automatically call that function. You just need to do an unstake and restake.

[vast bane]

Where do you stake your slp??

[jovial root]

Illuvium.io

[vast bane]

That's Smooth love potion axies coin?? Or am I wrong?? Educate me senpai.. sorry such a noob.

[jovial root]

SLP here refers to Sushiswap Liquidity Pool toke

You get it by depositing ETH and SLP in equal values to the liquidity pool on Sushiswap.
Doing that will give you equivalent SLP tokens

[vast bane]

Hahahahahah.. I knew it, I'm wrong. Thanksss for the info. Lol.. wahahaha.

My name just turned green btw. Woohoo..

[jovial root]

You can then take those SLP tokens and stake them on Illuvium.io.

So Axie SLP are DEFINITELY not what you stake

[vast bane]

Yahhh.. got it. Thanks thanks..

[jovial root]

Just be aware of the GAS fes for the SLP staking process... there are 4 or 5 GAS transactions, all needing ETH

[pale trellis]

Hey guys on V2 when working with about $2K is it better to stake SLP primarily for the rewards?

[jovial root]

Either that or use it to buy sILV and buy yourself some land...

Both have risks and benefits.
Check the pinned msgs in each channel to help get more info to make a better informed choice

[somber dirge]

Hi Everyone...

My rewards this week seem significantly lower than last week. I know there is a 3% decrease every fortnight, but this is a way bigger decrease. The only other thing I can think of is there's been a tonne of people joining the pool.

Has anyone else found this week to be a lot lower than expected??

[queen grove]

Are you sure it doesn't just look lower because of the price action? Mine feels a bit sluggish but I think the math comes out to 0.01 ILV per hour same as always.

Maybe a little less. It does go down the more people are in the pool I think.

[somber dirge]

Well I'm looking at it in units of ILV so price action should affect it. But I am just eyeballing it.

[queen grove]

It's hard to tell unless it's a crazy amount. I have to let mine accumulate for a week before I can really get an idea.

[somber dirge]

I've been claiming every weekend so i have a good gauge on the units coming through / week.

[queen grove]

But as I said, I feel it too. So if you have math to back it up I'd say, yeah, probably. No reason to think it hasn't pulled back a bit. Another way to tell if it's the saturation or the 3% per fortnight is to check the staking tab for TVL and APY. They should change, right?

$440,235,620.09
401.84%

I'm not super faithful with checking but over 400 is all I really care about for now.

[somber dirge]

I haven't been checking the TVL or APY. Like you I'm just thinking above 400 etc. But from now might be worth tracking

[sacred cosmos]

Gas fee is super low right now.

[queen grove]

Still prob not worth collecting though. V2 is so close I can feel it.

Someone post a meme of a skeleton waiting

[lime moth]

is staking V2 guaranteed to come out before land sale starts?

[opal tulip]

Best to let them rigorously test out the contract. Security is of utmost importance than the difference of a small yield.

[abstract swallow]

Hi guys, I am new to staking and wanted to ask couple of questions. If I use sushi pool, what is the rewards (interest ) they paying? Meaning not the % because this I can see, but do they pay in ILV or ETH or sILV? Also if my money staked in sushi will I get revdis? Or revdis is only spread when you stake ILV?

[opal tulip]

You provide liquidity (ILV/ETH) in sushi, you get the representation of your share of the pool in LP tokens, hence SLP (Sushi LP)

Then you can choose whether to stake the SLP over at sushi or at Illuvium core pool contract.

If you stake those at sushi, you get rewarded in sushi token.

If you stake in ILV core pool, you get rewarded in ILV/sILV depending on your choice when claiming the rewards.
And on top of these, you will get revenue distribution when the game sales kick in.

[abstract swallow]

wait, I don't quite get it. so when you choose sushi LP pool on illuvium website, this means you will get rewards in sushi tokens ? or there is still the option to pick ILV tokens?

[gentle pumice]

hi, if you look inside SLP sheet of Deraji Staking Daily Rewards .xls doc you can look how much % SLP pool increased in the last days (https://docs.google.com/spreadsheets/d/1Pm6b54YRTjdv6cDmWwudyejk2aA8XSEB5CgzKWe1N20/edit?usp=drivesdk )

[opal tulip]

To enter the "Core pool(liquidity)", you need to first provide liquidity for the ILV/ETH pair over at sushiswap first.

Once you have done so, you will receive LP tokens. With these, you can choose to stake in Illuvium core pool for ILV or sILV reward farming.
ILV or sILV is a choice you will get when you claim the rewards. It will prompt you to choose.

If you do not know what liquidity providing is about, it is best you read up or just choose single side staking (which is also available in the core pool) where you only need ILV to proceed.

[abstract swallow]

Got it. Thank you for explanation. But this means your initial investment will be in LP. Is it easy to sell those when time comes ?

[opal tulip]

If you ask this, it means you really do not understand the risk and benefits of a liquidity provider.
I suggest you best read up more on

1. liquidity provider
2. impermanent losses

Also do note that the weight for LP in Illuvium contract is way higher than single side staking. That will offset the impermanent loss risk exposure that LP will be facing.

[abstract swallow]

Will do, thank you for the information

[minor panther]

quick question, if I just want to start staking my ILV from Metamask, do they have to be on the ETH network or can they be on BSC? I'm just about to move them from the Binance exchange.

[opal tulip]

ILV is purely on ethereum network.
If you move the tokens to your address, make sure the standard is ERC20.

[minor panther]

@opal tulip Thanks! It seems on Binance there is an option to move the token as BEP20

or on that network or however you do it... Im just learning 😄

[brazen egret]

DO NOT use BEP20

otherwise it's bye bye to your tokens

[opal tulip]

BEP20 is a standard for bridging between BSC and Binance.
It is not a bridge between Ethereum and BSC.
I am not sure why would they put that option there. Unless it is recognisable when you want to transfer back to Binance Central exchange.
It is HIGHLY not advisable as ILV thus far has got 0 use on BSC.

[minor panther]

alright, thanks to both of you!

[cunning perch]

Binace wanted to provide its own ILV on its own bridge (providing liquidity on its own ) and was rejected by ILV team and therefore is not supported. Whatever ILV you see on Binance chain is not authentic and completely made-up

[opal tulip]

Can the team contact binance to remove the BEP20 option?
Granted that whoever did withdrawal must DYOR but still, that is a potential blackhole!

[cunning perch]

If you check Binance you'll see you can also withdraw ETH on BEP-20. So it's not just ILV. Binance does it to all tokens

[minor panther]

Another question, because I feel overwhelmed right now, but if I want to do either the 33% staking or that 400% swap-thing, should I start moving tokens to Metamask anyhow?

[cunning perch]

Yes. Everything needs to be on ETH mainnet (ERC-20) and in an ETH-compatable wallet like MetaMask

[opal tulip]

ETH is supported on BSC as once you tx back, it is recognisable by the centralized exchange. Not sure about ILV though haha.
Anyone heroic enough to try?🤣

[cunning perch]

You can try it with literally all tokens on Binance. But you will lose terribly 😜 no one will buy it, you cannot stake it, and you're devising your demise by thy own hands lol

[opal tulip]

If there isnt a contract created, imo, it will just become like the end state of a pinball lool

Good job for the team. Dual listing on 2 chains never ended up well.

Look at those ADRs in NYSE. End up both markets will be limiting the upside due to arbitraging and stunt the growth instead of the commonly perceived that the market will push one another up.

[haughty estuary]

for staking v2, would it claim the pending reward if we upgrade/migrate??

[atomic lagoon]

no.

[cunning perch]

Upgrade no, migrate yes

[opal tulip]

Would it be a better idea to make v2 read v1 contract at contract level rather than at wallet level?
That way would save a lot of gas for the upgrade, as there won't be a need to.

Only needed to migrate if users wish to use certain augmented features of v2 contract.

Subsequent actions after certain block height will be directly on v2

[cunning perch]

V2 will read V1 at the contract level. That's what the upgrade is all about. Migration is where you move it directly onto V2. It's not wallet related, it's pool related.

You just pay min 1 gas and max 2 to upgrade so shouldn't be a big deal

[atomic lagoon]

eh I just learn something 🙂

[cunning perch]

No worries 😎

[opal tulip]

Yes, but what i mean is that, can it be done without a need for wallet signature or permission?

It is just v2 reading v1 contract/pool details only right?

In any case, v1 will continue with its whatever yield. It is just to tally and ensure v2 gives out the correct yield, no?

[cunning perch]

You gotta give it permission. Cuz some stuff are changing as well (revdis added, flexible pool revoked and stuff) it's something new

[cunning perch]

By V2 implementation it's bye bye V1 (it'll be obsolete)

[brisk surge]

if you had a significant amount of ILV to stake, let's say 100k USD, would you stake flexible, or locked for X weeks?

[worthy peak]

in V2 there will be no flexible at all, minimum a month lock or something.

[brisk surge]

but for an high amount would you stake for 1 month or 1 year for example?

I would like to know what people think about staking for 1 YEAR, in crypto is a lot, you cannot cashout even in case of a HUGE crash or problems on Illuvium...

[cunning perch]

What @worthy peak said. $1k or $1m, flexible will be non-existent after V2

[brisk surge]

that's good imo, but would you prefer the minimum time (1 month) or the maximum (ex. 1 year)

[worthy peak]

depends on what you want and think about the project. if you are a long term investor with strong believe, why not stake for 1 year and have the max weight...

[cunning perch]

Locking is the risk you accept. I believe in ILV and whatever lock they offer I go max. But that's just me.

[brisk surge]

when is the migration from V1 to V2? How much does it cost?

[cunning perch]

Cuz when my tokens unlock, they are gonna stay staked. So in the long run locking now won't even matter

[cunning perch]

How much no one knows. It depends on how many deposits you have made on V1

[brisk surge]

just one

[worthy peak]

in case of crash a lot of people will sell, and you will get a huge revdis in ILV (if the game is a success) cuz people will certainly keep playing in the crash. and when the next crypto-summer comes, you will be a millionair

[cunning perch]

They you will do one + a forced reward claim (so probably two if not just a compounded one )

[cunning perch]

https://tenor.com/view/friends-yeah-baby-yes-gif-16751699

[abstract junco]

Hey guys,
I have claimed my rewards as ILV for first time, now do i have to stake them in ILV pool again for compounding?

[cunning perch]

When you claim they automatically get staked in ILV pool and stay locked for a year

Check the “vesting” tab

[abstract junco]

oh ok

thanks ser, i just couldn't control myself gas seems to be very cheap lol

[worthy peak]

So it's funny, but for a true believer and long term investor in ILV a crypto-winter is most beneficial

In case the game is good ofc. I personally strongly believe in it.

[plush perch]

agreed

[tame summit]

I want to ask a staking question
When I claim my ILV rewards from the locked12 month staking in SLP, the rewards is generated to the ILV and help me to stake into the ILV pool automatically. The period of the ILV pool is also set as 12 months automatically. I want to know that how can I transfer the ILV rewards to my wallet? I need to wait 12 months until the sushi pool count down? And also when I take my rewards from the pool and generate to ILV, will the staking time of the ILV pool refresh? Do I need to wait one more year to take my rewards.

[plush perch]

You can pull out your SLP after the locking period, but each time you claim ILV a new 1yr vest clock will start on that claimed ILV

[tame summit]

How can I take my rewards instead of staking it again?

[plush perch]

tried to explain the best way i can but im no expert. You can take sILV out and sell it but you will lose a lot of money in the long run

[tame summit]

Or I just need to wait for a year and all the rewards in terms of ILV can be taken out?

[final steppe]

ILV rewards can only be “restaked” for 12 months when they are claimed. So you can only moved each ILV rewards to your wallet after the 12 months.

[opal tulip]

You cant. Thats how it is. The only way you can do it is through sILV. And prepare to do land buying and sell through the NFT price appreciation.

If you cash out through the sILV pool, you will lose a lot.

[tame summit]

Thank you very much for your explanation!!

[plush perch]

i think the best way to look at it is after 1 year you can start pulling out money every month for a year

[final steppe]

Correct. Fo liquidity sooner than that, you can claim sILV which is available in your wallet immediately… but you’ll see the value of sILV on the secondary market is much lower than the price of regular ILV

[plush perch]

and by then ILV should be minimum 13kl

[tame summit]

Can I get back the slp after one year?

[plush perch]

yes

[tame summit]

Or all of the return will be ILV

Apy will be represented in terms of which ways?

[plush perch]

SLP you can pull after the one year lock up. ILV you can pull 1 year from when you claimed. likely you are going to claim ILV every month. Every time the ILV is claimed you it will be locked in vesting for 1 year

I would go with the 2-3+ year plan like most of us are. Its worth it trust me

[tame summit]

The apy will be represented on the ilv form? The 4XX%

How frequent will you claim for the ILV?

[plush perch]

yes it represents ILV off of how much SLP. you can as much as you want but there is gas fees thats why i say once a month

[tame summit]

You are very nice, thank you very much for your explanation!

[plush perch]

Thats what this community is all about everyone gets on here and answers what they can while they are on and if we are wrong the mods step in lol

[tame summit]

Thank you so much!

[tame summit]

I also wanna ask that if I claim the ilv once per month, will the new rewards group with the old one which inside the ILV pool? If the claim one on1/11/2021 claim the next time on 1/12/2021. Can I take it on the next year1/11/2022 and 2/12/2022? Or I only can take it on2/12/2022 as they are grouped?

[atomic lagoon]

They will be separated based on the time you claimed in the vesting tab.

[tame summit]

Thank you very much

And the rewards will be compunded from each pool every time that i claimed?

[atomic lagoon]

correct.

[tame summit]

Thanks!

[queen grove]

How do you find out what an SLP token is worth? Does any place do the math for you and have a historical record?

[vagrant lake]

on the staking,illuvium,io dashboard, look at the number under slp, that's tot val. no one else does the math that i can see

Currently 1 SLP is $4628 usd

Or, 1 eth plus 0.5 ILV

[queen grove]

Yup. I'm just tryna find my buy in without going back and looking through my wallet. Grin.

[vagrant lake]

ya and wallets are notorious for not showing all transactions

[brisk surge]

how revenues distribution will be given to stakers?

[queen grove]

In ILV?

[brisk surge]

but ILV has a capped supply

[vagrant lake]

maybe sILV

[queen grove]

thanks man

[queen grove]

Grin. Yup. Whatever they can buy up with the ETH they get. Price goes ^^^

[brisk surge]

why not directly distribute the ETH as revenues

[vagrant lake]

While it is true most games do not yield much revenue, ours is AAA, backed by a top crypto, Synthetix, plus it is play to earn so it will see higher churn

[queen grove]

Support the ecosystem I guess. Reward long term ILV holders. Drive price up. You can always be one of the people who trade them for their ETH when they go on one of their buying binges.

[vagrant lake]

I wonder can they make this p2p with VR?

[faint panther]

Yes you will be able to, during the 2 week window.

[coral pike]

NO that is inccorect

[faint panther]

If you check the pinned messages there is more info

V2 Staking Quick Guide:
Upgrade:
If you have a locked stake in V1, you will have to upgrade that stake to V2. This will allow the V2 contracts to read your V1 stake and continue generating rewards. If you do not upgrade, you don't continue generating rewards. Each pool (SLP + ILV) requires an upgrade transaction if you have a stake active in it.

Migration:
Migration is optional. Only unlocked tokens/stakes can be migrated to V2. Migrating to V2 lets you take full advantage of the reduced gas fees that are a part of the V2 staking contracts. Migrating to V2 has additional benefits, such as the ability to change the wallet a locked stake belongs to.

[coral pike]

No locked stakes CANNOT Be moved ( migrated) to V2 until unlocked they can however be UPGRADED but you will then have to MIGRATE when the stake becomes unlocked

it allows a locked stake to be read by the V2 contract

[cyan rampart]

You don't HAVE to migrate them, but you have the option to migrate them (once they are unlocked).

[coral pike]

i was under the impression that once unlocked you have to migrate or forfeit rewards?

[cyan rampart]

That is described in the pinned message that just got posted. Upgrading is something you HAVE to do if you want to keep collecting yield farm rewards. Migration is optional, and will let you take full advantage of some of the features of staking V2, including cheaper gas fees and the ability to move locked stakes between wallets.

[faint panther]

I copy and pasted the pinned message

[cyan rampart]

Any new stake will be in V2, but I think existing stakes could conceivably stay in V1 once unlocked.

[coral pike]

@cunning perch was this point covered in your power point?

[cunning perch]

Yes. What @cyan rampart is saying is the confirmation that after V2, whatever stake in whichever pool you make will be on V2 directly. Once unlocked, your V1s will have the option to be moved (migrated) to V2, should you wish so.

[coral pike]

and still get full reward ? and revdis

[cyan rampart]

As long as you upgraded to V2, yes.

[cunning perch]

Yep. Staying upgraded (after you upgrade ofc) or migrating to V2 won't touch your rewards. Migration just makes it even more gas-efficient

I think it's best for everyone to migrate (when unlocked) unless you have made 200 individual stakes on V1 lol.

[coral pike]

https://tenor.com/view/hearties-ray-wcth-when-calls-the-heart-i-dont-often-say-this-gif-16716777

Ill be glad when all V2 stuff is done and behind us lol too confusing ! lol

[daring spear]

hi guys, can you help me out real quick..with current gass fees of 50, how much (equivalend of USD in eth) do i need to claim my ILV rewards form sushi pool

[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.

[gloomy gazelle]

How much… make a copy of this sheet and input the numbers… it’ll calculate it. https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit?usp=sharing

[gloomy gazelle]

When claiming from SLP pool it’ll take two transactions. First is ILV pool second is SLP pool. You must do both. Until v2 staking goes live in a few weeks.

[daring spear]

i am little lost in this math, so wit current 50 GWI how much USD will it take

ohh its 80 now

[gloomy gazelle]

The sheet does the math for you.

It asks what the gwei is… put in the gwei

When claiming using custom gwei is smart.

Like set limit on both transactions to 50 gwei exactly and it’ll end up processing properly eventually

[daring spear]

so its about 170 usd? atm for my actions

[gloomy gazelle]

If that’s what the sheet says.

[gloomy gazelle]

!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

[gloomy gazelle]

Looks like gwei is input as 80 there in the top left

[minor panther]

Hey guys! Me and a friend are just about to start staking ILV, but we're quite confused. Does anyone care to spare 5-10 minutes in voicechat to answer some basic questions?

[cunning perch]

Hey. First if all watch out for DMs. They are all scams. Second, start from here and ask whatever Qs you have after that and we'll help you in general channels (not DMs)

[woven ibex]

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

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

[gloomy gazelle]

Sorry I’m not able to.

!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

[daring spear]

@gloomy gazelle and you mentioned something in 2 weeks about about V2, what will happened to my stake, will i have to do sometning about it?

[gloomy gazelle]

Yeah. @cunning perch can you share some v2 information? He’s more an expert on it than me.

[gloomy gazelle]

V2 Staking Quick Guide:
Upgrade:
If you have a locked stake in V1, you will have to upgrade that stake to V2. This will allow the V2 contracts to read your V1 stake and continue generating rewards. If you do not upgrade, you don't continue generating rewards. Each pool (SLP + ILV) requires an upgrade transaction if you have a stake active in it.

Migration:
Migration is optional. Only unlocked tokens/stakes can be migrated to V2. Migrating to V2 lets you take full advantage of the reduced gas fees that are a part of the V2 staking contracts. Migrating to V2 has additional benefits, such as the ability to change the wallet a locked stake belongs to.

[cunning perch]

https://tenor.com/view/modest-too-modest-you-are-too-modest-gif-12345313

[gloomy gazelle]

Lol or lazy this Sunday morning.

[minor panther]

Well, ok, real quick question then. With 2 ILV in Metamask right now, it should be a good option to just go for that core staking and lock the tokens for some period of time? Gasfees doesn't seem to bad when I access the staking on the homepage.

[cunning perch]

There are 5-6 recently added docs and vids (pinned) to the channel and Vtemore has covered in 2 vids in his channel (1 AMA and one simple deep-dive)

[daring spear]

@cunning perch in my caise i ll have to upgrade. how much will it cost to upgrade to V2?

[cunning perch]

That depends on Gas on the day you wanna upgrade. No one knows, it will be min 1 and max 2 times in total

[gloomy gazelle]

It might be better to wait to stake until after v2 launches.

We don’t even know what the general gas limits will be for v2 related transactions

It’ll be better (more optimized) than currently

Ok I’m going offline. Later y’all.

[minor panther]

@gloomy gazelle alright, we just saw the video about OG's having some benefits from staking in v1

[cunning perch]

V1 will be rendered obsolete after V2 implementation (2weeks to a month from now) and it will receive no more new stakes

[daring spear]

@cunning perch so do i claim my ILV rewards now, and upgrade everything when V2 comes, or i can leave it unclaimed and do it in V2?

[cunning perch]

Upgrading doesn't have anything to do with rewards. It is pool based. Claiming now or later is your choice. When you upgrade, you will benefit from V2 claiming options.

[daring spear]

but will it change restaking pweriod of claimable rewards in V2, for ex i locked invesmemnt i SLP pool for 12 months, if i leave current rewards uncleamed, upgrade to V2, and claim after, will it be to 12 months? or some other period

[cunning perch]

Ofc. Any claimed ILV will be locked for a year after the claim. Whether on V1 or V2. It won't change the tokenimic. It will change and optimize the way you engage with the pools. In your case, you won't be required to claim both pools and pay for two TX. I have mentioned the features of upgrading in the photo above. You can find detailed info in pinned messages provided by me, Deraji, Pelican, Blickter and Vetemore

[daring spear]

srry for all the questions (i missed a lot of news), so if i understood correctlly, it may be bether not to claim rewards RN, couse after i upgrade i ll be able to claim them throu single transaction (insted 2), and it will be cheaper supposing gas fees are similar to now

[long flume]

@gloomy gazelle good afternoon sir, just wanted to touch base, hope you are doing well

the V2 announcements are still a week out or more, correct?

[amber grove]

Hi, I just started understanding about staking and I have a question to ask. If my wallet which I used to staking was hacked, can I use another new wallet to claim my ILV?

[atomic lagoon]

not at the moment but in v2 there will be an option to transfer Positions. But you will need to do it fast before the hacker does I think.

[amber grove]

What is v2😅

[atomic lagoon]

this may help
https://www.youtube.com/watch?v=MwH0noF6QBA&t=12s

[amber grove]

Thanks for answering my question.

[cunning perch]

It's not a matter of better or worse. It all depends on how many rewards you have pending. But upgrading to V2 will minimize the gas you pay for sure.

[daring spear]

got u, tnx for all the info

[gloomy gazelle]

Correct.

[glossy dirge]

i have pending rewards. should i just wait for the v2 to claim it?

[cunning perch]

if it's worth the claim now (since gas is ok) you can claim. If not, wait till you upgrade then do it. It's your choice

[glossy dirge]

thanks! i would have to pay gas twice right?

[cunning perch]

if you are claiming SLP rewards now, Yep.

[glossy dirge]

geez. and will v2 solve that?

[cunning perch]

it will do either of these:

1. no forced claim = you can decide whichever pool to claim and which not to.
2. claim both pools in 1 TX.
   either is way better than paying 2 gas.

[glossy dirge]

aight! how soon is the v2 launch? Thanks for answering my questions man. appreciate it!

[lime epoch]

Guys will there be a use for SILV in the next 3 months?
should I claim my rewards as ILV so the vesting period starts or should I claim it as SILV to use in game?

[cunning perch]

No worries. It should be from a week or two to a month

[cunning perch]

(probable or not) Merch, Illuvatar auction and then the game. Claiming either is totally your choice

[lime epoch]

Thanks man

[gleaming gulch]

Im trying to stake illuvium in the core pool but I just get a spinning wheel ? Is the core pool staking site down?

[cunning perch]

Already answered you in #💬〕general everything works OK.

[silent cedar]

What browser and wallet are you using?

[livid light]

claim sILV if your buying or plan to buy land, other then that ILV all the way!

[gleaming gulch]

what does the weight of the staking mean?

[scenic crescent]

with a weight of 2.0 a single Ilv token count as 2 Token, weight of 1.7 single ilv token count as 1.7 token for staking and the revdivs

So if you stack 1 Ilv for 52 Weeks you get the same rewards as someone stack 2 ilv flexible every block

[gleaming gulch]

thanks

[wicked sail]

Is there a specific date for staking V2?

[coral pike]

no official update yet

[wicked sail]

Word thank you

[magic laurel]

is there a point of claiming sILV from the ILV pool? Its a waste because you could be getting a lot more from the other pool correct?

[cunning perch]

Depends. If you literally have no cash on the side that would help you buy a good chunk, the pool is giving it to you literally for free.

[magic laurel]

I already have some sILV set aside so I think claiming as ILV would be better for me ty

[cunning perch]

Well, that's why everyone should have a plan

[gloomy gazelle]

@sinful valve here’s the document for v2 IIP. Check the other pinned posts in this channel.

[raw heart]

when i stake for the first time ilv, will it be on v.2

is the ui on the website v.2?

[gloomy gazelle]

V2 is not yet live.

For most users it seems smarter to wait for v2 to launch before staking. If you have a significant deposit then maybe it is worth it. But you’d want to be earning like $300 per week of staking for it to be worth staking asap instead of waiting.

[mighty bolt]

I staked in august 1k (bought at 460) and have made to date: 348.36 aka .27ILV

I’ll always claim as ilv as long as revdevs stay in place or ilv runs out.

[gloomy gazelle]

Haha. Don’t worry ILV tokens won’t run out.

[mighty bolt]

Then I’m buying ilv as long as revdivs don’t get eliminated. I got 3 years 🤓 min

[proud ivy]

Hey Pelican!

Do we have an ETA on when it'll be live and we can begin the Update and Migration for our holdings?

Also, will there be an official walk through from the team or believe there's enough community content to get people by?

[gloomy gazelle]

No specific ETA. Before too far into January seems very likely.

There will be walkthroughs.

[proud ivy]

I was thinking the same. Thanks for the quick response.

One last question, we only have 2 weeks to Upgrade and Migrate, correct? What happens after that 2 week window for people who choose to stay on V1? Will there ever be an opportunity again to perform Upgrade and Migration or their decision is made and they'll have to wait for all to unlock before migrating manually?

[gloomy gazelle]

2 weeks to upgrade. Migration only happens for deposits that are unlocked. Not all will be migrating during that 2 week pause.

Upgrading after the 2 week pause is possible. It just means you will have missed out on rewards.

V2 Staking Quick Guide:
Upgrade:
If you have a locked stake in V1, you will have to upgrade that stake to V2. This will allow the V2 contracts to read your V1 stake and continue generating rewards. If you do not upgrade, you don't continue generating rewards. Each pool (SLP + ILV) requires an upgrade transaction if you have a stake active in it.

Migration:
Migration is optional. Only unlocked tokens/stakes can be migrated to V2. Migrating to V2 lets you take full advantage of the reduced gas fees that are a part of the V2 staking contracts. Migrating to V2 has additional benefits, such as the ability to change the wallet a locked stake belongs to.

More on v2 is pinned and as more info is available it will be pinned in the future I’m sure.

[supple flume]

Claimed rewards will automatically migrate to V2 as they are locked right? Only the original stakes will need to be upgraded once correct?

[gloomy gazelle]

My understanding is that vesting rewards move to v2 when users do the UPGRADE transaction.

Original deposits will need to be upgraded and then later when those deposits unlock there will be the option to migrate the deposits.

[bright salmon]

What do we know on special reward for peoples staking on V1 ?

[gloomy gazelle]

Nothing.

It’d be the chance for an NFT I assume.

But is that officially mentioned in the v2 IIP?

[supple flume]

Thanks so much for the clarification. 🙏

[agile ginkgo]

Interest is compounded monthly?

[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.

[gloomy gazelle]

Interest is compounded manually by claiming/vesting

[ruby drift]

SLP rewards (I only claim ilv) are not earning any interest until claimed, correct?

[atomic lagoon]

Correct

[ornate kiln]

Hey Team, I staked for a few weeks, but forgot length of time. How do you know your staking period is over?

[ruby drift]

Go to the vesting page on illuvium site

[ornate kiln]

Yup, I went onto that page. But got 3 positions. Unsure what they mean.

This is what I am viewing.

[ruby drift]

Top one is what you initially staked. It'll be unlocked in 31 days. 2nd one is your claimed rewards, they'll be unlocked in 316 days. Bottom one is a stake that is unlocked, you can withdraw it or leave it and continue to earn rewards at the same weight as when you started it.

[raw heart]

Thank u for that thorough response. I really appreciate it.

[ruby drift]

Every time you claim, it'll add another ILV position that will be locked for 1 year from the date you claim it.

[ornate kiln]

Thanks, LyleJoy. Last Question. So 3rd line is staking? and can be withdrawn at any time? As it's does not have any dates under "Unlock", I thought it might not be accruing anything. O% APY sucks! LOL

[ruby drift]

Yes, until you withdraw it, it's still earning the same weight as when it was locked.

[gloomy gazelle]

Flexible stake is an option currently. It earns at 50% of the listed APY for new deposits in that pool.

However, once v2 rolls out flexible staking will not be an option (if the IIP is approved). This will prevent people from front running revdis sales.

[ornate kiln]

I see why for Illuvium team, as its' hard with ppl coming in and out.

[dapper relic]

What’s the apr ILV - WETH

For this 👇🏻

https://medium.com/illuvium/28-everything-you-need-to-know-about-staking-ilv-6669594b2fac

It’s stated 477% on CoinGecko

[ruby drift]

That's if you're staking SLP. It's currently at 405%

[autumn bridge]

In version 2 of staking. Is it possible to stake ILV and SLP from axie infinity? Or is it better if we stake ilv / eth?

[coral pike]

SLP is not from axie even though it has the same abbreviation here SLP means Sushi liquidity Pool its made of of 50 % ILV + 50% eth for example $1000SLP would be $500 ilv + $500 eth You would need extra ETH for multiple gas fees to complete the transaction

[sacred cosmos]

AXS axie staking was for flash pools which has long been over. SLP (sushi LP) is the one thats currently active and giving 400% APR

[gloomy gazelle]

!staking the apy is reported live on the official staking website

[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

[autumn bridge]

Thank you sir! Pelican 22 illuvimod has answered my questions well. Thanks!

[gloomy gazelle]

Hmm 🤔 I haven’t been DMing you if you’ve been getting DMs.

[coral pike]

mabey the scammers got tired of impersonating @cunning perch needed to change things up 😆 --- edit actually i think they ment the bot response

[junior nacelle]

Hello all... does anyone know if there is any tutorial on how to use zapper Fi with specifically staking illuvium? I am hearing that you can use zapper Fi to save on gas fees when staking SLP, but unable to find any instructions on how to use it... Thanks so much

[coral pike]

**PSA: It would be in your best interest to turn off DM's in discord setting - Any DM about Illuvium or any offer to "help" by DM is a SCAM **

PLEASE READ

[severe sequoia]

What’s the ETA on V2?

[gloomy gazelle]

Nothing official yet. Less than a month seems likely.

[alpine glade]

Is v2 implemented after the 2-week halt or is that just to give time to people in v1 to upgrade while v2 is up and running?

[gloomy gazelle]

There will be a pause in all rewards during that 2 weeks. It’s a ramp up period for v2

We would be able to deposit in v2 during those 2 weeks. But there would be no rewards for anyone until after the two weeks is over.

[alpine glade]

Do you know if the bonus for those 2 weeks are only given to those who were on v1 or say I stake the first day of v2 with no rewards, would I also get that bonus to make up for the 2 weeks?

[gloomy gazelle]

My guess is it’s for everyone . But I don’t know for sure.

I think It’d make it pretty complex to only have the rewards boost go to certain people.

[urban verge]

Hey guys, can I claim ILV from my SLP pool but not ILV pool?

[jovial root]

In V2 you can. But not at the moment in V1

[tough shoal]

hi guys, with regards to the ILV core pool, whats the % drop rate? and will it keep dropping to 0% or does it drop to a certain point and stay there? cheers

[gloomy gazelle]

It’s based on your percentage of the total value in the pool AND how many rewards are being distributed during that time.

The number of ILV tokens being distributed to each pool does go down by 3% every two weeks. But that is not the major cause of apy decreasing. It’s that more value is being staked and so stakers need to share with more people.

Apy will not hit 0% until the end of 3 years of yield farming

!yf

[woven ibex]

You can yield farm ILV in 2 main pools.

ILV/ETH at a 1:1 ratio USD values matched or ILV Only. 3 Million tokens will be distributed through yield farming over a 3 year period, with the first year being 1.8million tokens. Only unlocked tokens can yield farm which is less than 1 million tokens. Meaning, you get the maximum rewards possible. You can lock up your tokens for a maximum of 1 year which can increase your weight in the pool up to 2x. More details will be published before Yield Farming goes live near the end of May. Until then, here is more information: https://medium.com/illuvium/9-tokenomics-launchpad-and-reward-details-5894c3b356be If you don't know what Yield Farming is you can start researching here: https://www.youtube.com/watch?v=ClnnLI1SClA

[tough shoal]

Thanks Pelican. Makes sense!

[lyric creek]

Quick question/confirmation on the upgrade- I staked SLP locked for 1 year at the beginning and have claimed and re-staked a number of ILV rewards that are now vesting at different times. Since nothing is vested I won't be migrating. So to check, I only need to perform 2 upgrades correct? 1 upgrade for the initial SLP stake and 1 upgrade for all the ILV rewards staked even though I collected them at different times?

[gloomy gazelle]

Seems right.

And then you’d have the chance to migrate your initial SLP deposit later. After it unlocks. But only if you want to.

[lyric creek]

Thanks for the confirmation... I just want to make sure I don't have to pay gas to upgrade the 10~20 individual rewards I've collected and that the upgrade 'bundles' all of the staked ILV together

[tender steeple]

Hey guys I’m very new to this. Is staking in a way like investing in stocks? You put your money into it and it increases value over time?

[gloomy gazelle]

A little.

!staking

[woven ibex]

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

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

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

[gloomy gazelle]

!yf

[woven ibex]

You can yield farm ILV in 2 main pools.

ILV/ETH at a 1:1 ratio USD values matched or ILV Only. 3 Million tokens will be distributed through yield farming over a 3 year period, with the first year being 1.8million tokens. Only unlocked tokens can yield farm which is less than 1 million tokens. Meaning, you get the maximum rewards possible. You can lock up your tokens for a maximum of 1 year which can increase your weight in the pool up to 2x. More details will be published before Yield Farming goes live near the end of May. Until then, here is more information: https://medium.com/illuvium/9-tokenomics-launchpad-and-reward-details-5894c3b356be If you don't know what Yield Farming is you can start researching here: https://www.youtube.com/watch?v=ClnnLI1SClA

[pale trellis]

No. Stocks may appreciate in price just by buying and holding, same with crypto.

Staking is another mechanism that allows you to receive a reward for “locking up” your assets.

Think of staking more like term deposits in a bank. Expect the underlying assets my appreciate much more.

Rewards vary greatly too between each token you are able to stake.

[tender steeple]

Ok, thank you. Will definitely keep looking deep into it 👍🏼

[pale trellis]

All good. Make sure you look into V2 staking before staking anything.

[gloomy gazelle]

Staking rewards are more like dividends. But it’s really not the same thing.

[tender steeple]

Ok, thank you @gloomy gazelle @pale trellis . Appreciate it

[gloomy gazelle]

I can link some videos you may find helpful

[tender steeple]

That would be awesome m8

[gloomy gazelle]

https://youtube.com/playlist?list=PLuTQau_zXjlEV2niELD1mn0lfYlXOkoCr this playlist has a bunch of good stuff from my favorite creators.

Enjoy

[tender steeple]

Thank you!

[strong forge]

Should I wait for v2

[cunning perch]

that is totally your choice. I suggest reading about it and then decide whether waiting for it in in your best interest or not

[trail iris]

Hi, if I already have 2 stakes locked for 1 year and I upgrade, when I add a new stake on v2 will I have to claim the rewards separately?

[cunning perch]

Claiming/withdrawing/staking on V2 shouldn't force you to claim rewards. Even if it does, it will all be in one Transaction and 1 gas all together.

[queen grove]

You know, ILV is holding up surprisingly well to this market. Just sitting steady pumping out rewards.

[cunning perch]

that's a win. consolidation gives a stronger pump later.

[trail iris]

Thanks for clarifying

[cunning perch]

anytime 🙂

[rain halo]

sILV and ILV will have the same ratio when buying land correct?

[cunning perch]

yes. ILV:sILV

[rain halo]

perfect thanks, do we have any updated ETA on land sale?

[left shore]

Any news on staking v2? Should i wait before claiming rewards? Will i have to pay to transfer pending rewards from v1 to v2?

[cunning perch]

mid Jan said in Interviews. No date yet offcially

[rain halo]

whats staking v2?

[cunning perch]

I can direct you to the 5-6 latest pinned messages in the channel and see what is best for you 🙂

[cunning perch]

[austere cliff]

Gas hit below 30 for the first time in donkeys years 😱

[cunning perch]

I was 20 yesterday. for some minutes that is lol

[austere cliff]

wow, thats amazing, would have been a great time to claim rewards

[cunning perch]

It still is 🙂

[austere cliff]

sadly I havent compiled enought ILV in rewards for it to be worth claiming now. Need at least 4-5 ILV in rewards to be worth claiming. Ill be patient and hope and pray that the gas doesnt kill me when its my turn to claim.

[cunning perch]

The time will come my friend 🙂

[silent arrow]

need the V2 with thoose gas fee !!! ❤️ come on put pressure on the audit firm !!! 🙂

[cunning perch]

What if V2 gave even a better gas? 😛

[silent arrow]

it will be a combination then ! 🙂

upgrade and migrate with 30-40 gas would certainly be so cool compare to the 100+ we had for weeks/month

[fresh orchid]

My staking starts 28th of November and it's locked for 180 days, I'm still in V2 or I have to upgrade too?

[clear cape]

Watch our luck, it'll come and gas will be going through the moon again

[silent arrow]

yep ... :/

[fresh orchid]

Where I can check that my staking is in V1 or V2, or V2 will coming next? Sorry for the stupid questions ..

[atomic lagoon]

V2 is not out yet. V2 will be out in 2-3 weeks

[fresh orchid]

OK nice, so It's better to wait for a new locked staking pot when V2 is out? What do you think?

[atomic lagoon]

If you are not planning to stake significant amount, it is better to wait. You can calculate 2 weeks worth of rewards with the calculator in the pinned post.
However, If the rewards out weigh the gas fee saved, then you should stake now. NFA

[fresh orchid]

thank you!

[light gorge]

2 weeks from 2 weeks ago right? Lol

[atomic lagoon]

I wish I could answer better 🙂

[light gorge]

I hope they can make announcement about it this week

[misty palm]

hey guys I have a newbie question , if my wallet use for staking is compromise but my token is still lock in the stacking pool is there anyway I can transfer the locked token to my new wallet ?

[atomic lagoon]

not in current v1. In v2, it will be possible to transfer position. However, you must do it before the hacker does.

[misty palm]

undestood , thanks ... i believe the team will come up with a reliable transfer system to acknowledge the owner if any activity is detected

[junior nacelle]

Hi guys, I'm almost done with staking, I'm just deciding to stake a very small amount of ILV + ETH in the sushi pool first to just test everything before making my huge stake, and just wanted to ask if this is normal... I am on sushi swap, and trying to provide liquidity for only 0.01 ILV + equal amount in ETH (about 20 USD worth), but when sushiswap asks me to "Approve ILV", it shows in the "full transaction details" in metamask Firefox extension that sushi will spend "up to 1.15 ILV" (screenshot attached), which is far more than I intend to do for this small test stake, and just wanted to know if this is normal or if I should change something to prevent sushi from spending that much... Thanks so much all

[atomic lagoon]

it is normal. 🙂

[junior nacelle]

Hey man :) ah ok... So in that case it's ok to approve the transaction? And it will not really spend 1.15 ILV? Thanks so much

[river furnace]

hi guys, i studied this project and i really like it but for the actua situation i understand that is not good to stake before v2. am i right?

[atomic lagoon]

it will not spend all.

[atomic lagoon]

unless you are staking like $10,000+, it is better to wait for v2.

[junior nacelle]

Ok thanks so much dude, I'll go ahead and approve it... Did it also show this message for you too? When you approved ILV in sushi swap?

[river furnace]

nice so i will wait to stake. but is it a great idea to buy now? i don't think the price can go lower

[atomic lagoon]

you mean the spent limit? yeah. it shows for the first time only.

[atomic lagoon]

I cannot help you there mate. that will be financial advice. But I can say I bought about 1.5 ILV yesterday at 1200 ish price. so it is up to you.

[river furnace]

yea i understand your position i will of course make the decision by myself, thanks

[atomic lagoon]

please do not trust DMs in case anyone DM you with my name.

[river furnace]

can i ask some more info in dm?

[atomic lagoon]

you can DM me. but I won't DM you first.

[river furnace]

yes i know, not trusting anyone thanks for the advice

[junior nacelle]

Ah ok, thanks so much dude... Am just worried about it spending so much more than I anticipated, lol

[atomic lagoon]

All the best with your first staking!

[junior nacelle]

Dude thank u so much, but I'm still so nervous lol

[junior nacelle]

Wait, do u think I should enter a custom spend limit of like 0.02 ILV? Just to be sure?

[atomic lagoon]

I don't think I would because then when you stake again for more amount you will need to approve again or something. may be @cunning perch can help here.

[junior nacelle]

Ah ok, thanks so much...

[cunning perch]

@junior nacelle approval is actually token allowance, meaning you are giving permission to Sushi to touch your tokens and if necessary, take more to keep the balance. you can set a limit to it so (in case of a Sushi hack for example) your tokens in your wallet are safe and the hackers will steal the ones in the pool. If you add unlimited, then with your permission or not, Sushi can interact with your wallet. The reason we have unlimited approval is gas optimization. That is if you set a limit, every time you wanna engage the pool you have to pay approval fee. If you pay one time and set it on unlimited, you just pay one time, but then Sushi will have the full control over your wallet. This shouldn't be worrying since you are dealing with an authentic platform like Sushi or Uniswap, but be midful of other platforms you might engage with. There is always a risk.

[ripe steppe]

Additionally, you can approve it with no limit… Do your trading, and then on debank.com connect your wallet and cancel the approval (although this costs an additional fee) this is actually a very useful way to check what you have approved with your wallet (debank.com is a very useful tool tbh) @junior nacelle

[cunning perch]

@ripe steppe Polemos spreading education haha 😄

[pure moss]

Is there any more info on this? I’m in a similar situation currently and I literally need to try and claim rewards in silv so I don’t restake in my compromised wallet. It sucks

[junior nacelle]

Ahhh ok got it, thanks so much for the explanation really appreciate it!

[cunning perch]

[junior nacelle]

Oh ok thanks so much, will check out debank, love your videos

[cunning perch]

compromised wallets unfortunately are hard to save as there might be bots in them waiting to withdraw whatever funds you sent to them. V2 will allow you to change the address, but to do that you need to first upgrade, then migrate and change the address all of which cost ETH.

[ripe steppe]

I will be doing an interview with aaron this week, will be asking about compromised wallets 100% and if Illuvium dont make a guide on what to do I certainly will!

A few chats with some people recently that have been hacked have actually given me some hope that a decent amount of people will actually be able to recover their assets or at least part of them if they act fast

[pure moss]

I’ve been running some checks with small amounts of eth to see if there are any bots running and it seems like there isn’t. Can I do the migration while staked or does that need to unlock first? Can I please dm you about the process?

[cunning perch]

they will have to be unlocked. Migration will require your tokens to be unlocked.

[junior nacelle]

Oh also, sorry I forgot, there's another thing... I am using ledger along with my metamask and get a prompt to "enable blind signing" in my ledger, do you know if this is necessary or can I do the transaction without enabling blind signing? Thank you!

[cunning perch]

if you are locked for now, wait for Aaron in @ripe steppe video this week and hopefully he will shed some light on the matter.

[cunning perch]

for every TX you need the "blind signing" to be ON. It was called "Data Contract" before it got updated to this weird name. you can turn it off after you are done.

[pure moss]

Yep I’m locked for another 45 weeks or so… thanks I’ll look out for the vid

[junior nacelle]

Ah ok thank you! And ok last thing LOL... it shows this as the "contract address", can anyone verify if this is the correct contract address or is it some scammers wallet? Can never be too paranoid lol...

0xd9e1ce17f2641f24ae83637ab66a2cca9c378b9f

[cunning perch]

if you are dealing with Sushi, then it should be genuine. That should be Sushi address. not sure where you are but if you are on real Sushi then all should be ok lol.

[junior nacelle]

ok thanks so much, I am on https://app.sushi.com

[cunning perch]

yep that's the wbsite. Follow this and you'll be good

[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

[junior nacelle]

ok thank u so much

[junior nacelle]

I know I'm paranoid, but does anyone else see this "\n" text in the sushi swap description? Feels suspicious lol

[cunning perch]

you'll get tiny tiny tiny bit of extra rewards from sushi for every TX ppl make. some cents probably. Dude you are sus of the whole DeFi platform apparently 😄

[junior nacelle]

HAHAH I know, I totally am... I'm super new to crypto and don't trust anything, haha... But do u see that too? The "\n" text in the description?

[cunning perch]

I have it too and I have been using this for like 2 years.

[junior nacelle]

Okok... All I needed to hear lol... Thank u :)

[cunning perch]

you can click on the link above to be sure sure too 😄

[junior nacelle]

Yea I did but wanted to be extra sure 😆😆

Guys I did it!! I got 0.005 SLP!

[brisk surge]

😂. I got 6.24SLP

[scenic crescent]

the /n is just a line break, but the programmer misstyped it, cause he wrote /nproportional without a space, so nothing you have to worry about 😛, he wanted the text-box to be smaller by setting line breaks but failed it a bit

[atomic lagoon]

Nice!!

[junior nacelle]

Yayyyy guys I did it!!! Check it out!!

Omg the number just changed!!

[cyan rampart]

https://tenor.com/view/obama-finger-guns-happy-finger-points-gif-16050074

[junior nacelle]

Hahahahaha

Wait do u know when I will be able to claim my ILV or sILV rewards?

[atomic lagoon]

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

[cyan rampart]

You can claim literally as often as you want, but be aware it costs gas to do so.

[final steppe]

I believe there is a minimum built in on the technical side of things... 0.01 ILV required to claim, is what comes to mind.

But you will want to keep in mind the gas fees as you will have to pay gas each time you claim. So it's generally recommended that you let the rewards accumulate until it makes sense to pay whatever the gas fee is.

[junior nacelle]

Ahh okok thank u both so much... Yes definitely not gonna claim now was just curious about it thank u...

So now is it ok to just go ahead and stake the rest? Everything else?

[cyan rampart]

Personally, I won't claim again until staking V2 is live.

[junior nacelle]

Just wanted to do this first baby stake as a test stake process, lol

[cyan rampart]

Up to you, but yeah, you can add another larger stake if you wish. Not a bad idea doing a test run first.

[junior nacelle]

Yes definitely, I am completely new to this so I am more than ok with spending $150 in gas in a test run before I do the rest

[cyan rampart]

You caught a relatively good week for test runs as well, gas is cheaper than it has been.

[junior nacelle]

Oh, that's amazing!

[cyan rampart]

I definitely blew a few hundo my first time around as well haha - Gas fees and figuring everything out

[junior nacelle]

It's not a bad thing at all in my opinion, take it slow and don't worry about the first few times, get it right in the beginning so u never get it wrong again, etc

Gonna stake the rest now... Nerves are coming back... Lol

[final steppe]

Going off of what Blickter mentioned above about his personal claim plan... Depending on how much "the rest" is, it could also make sense for you to wait until the V2 contracts are live too. Aaron has mentioned wanting to deploy V2 staking before the end of the year... so if you're not going to be accumulating too much in rewards over the next few weeks by staking now, then waiting for V2 to stake will save you gas fees.

But if you're going to be accumulating a good chunk of rewards between now and V2 deployment-- have at it!

[delicate cloak]

Definitely keep an eye on gas levels when claiming or doing anything on Ethereum Mainnet. We have a gas tracker on the sidebar and there's tons if you Google. Over 100 GWEI is generally considered high, now it's particularly low as others have said. Under 60 is a deal imo

[junior nacelle]

Ah yes thanks so much for this, really appreciate it... I am planning to stake 20 ILV in the SLP pool for 52 week lock up right now (so that's 10 ILV + equivalent amount in ETH)... I had already figured that staking it immediately and then upgrading to v2 would be more prosperous financially because I would make more over the next few weeks waiting for v2 than I would have saved staking directly on v2... Also I plan on DCAing each month into ILV going forward, and I can do that on v2 directly... Can u tell I'm bullish on this project? Lol

[delicate cloak]

Lol that's a nice stake for sure and you'll get some juicy rewards. Also, good call on doing the test transaction. $100-$200 ain't much when you're investing 5 figures! Always best to make sure you're doing it all correctly 👍

[junior nacelle]

Hell yeah!! LFG

Wait, when I'm swapping out ILV for ETH, if I have like 20 ILV and only 0.24 ETH, that means I should swap like 10 ILV for ETH right? On sushiswap? Before I do the liquidity thing again?

[delicate cloak]

So you will want equal $ value. If you go to the add liquidity part of SushiSwap, you can input 10 ILV and it'll tell you how much ETH you need to match it

Then when you add liquidity, you put equal volumes in and get SLP tokens back. You then stake the SLP tokens on the website.

[junior nacelle]

Ah ok right right... So yup I believe it's gotta be like 10 ILV swapped into eth, which would give me about 3 eth and about 10 ILV for the grand total to turn into SLP (I still have another like 800 USD of eth separately to use as gas fees for the entire process)

[delicate cloak]

Def keep some ETH for gas fees. Not sure if you've used Vetemor's calculator pinned here to approximate your gas expenses. If you go here you can see what ratio 1 SLP token is: https://app.zerion.io/invest/asset/SLP-0x6a091a3406e0073c3cd6340122143009adac0eda

But I like to go right to Sushi and type how much ILV I have and then get the matching amount of ETH.

[junior nacelle]

Okok thank u so much for the help... So my screen should look like this right? To swap about 10 of my existing 20 ILV to ETH? To get half eth and half ILV?

[delicate cloak]

Yeah and then you'll get the MetaMask confirmation

[junior nacelle]

okok thank u so much... doing it now...

[junior nacelle]

I got to the last step, but not sure what to do here... It won't let me select ILV or sILV -

Oh wait, it actually is allowing me to select them-

Does it matter which reward option I select? Since I only staked a miniscule amount for about 30 minutes?

[delicate cloak]

No it'll be a tiny amount. If you never plan on claiming sILV anyway, might as well just do ILV and it will just be a tiny bit and your next claim will be added to it

[junior nacelle]

ah ok... wait i believe I should do the sILV rewards as the gas is like $70 cheaper for that one

do u think that makes sense?

[delicate cloak]

Good call, totally forgot it's cheaper to claim sILV! And it's so little, you might as well do that

[junior nacelle]

Done!!!

[tired cosmos]

I just want to make sure, staking v2 isnt out yet right?

[junior nacelle]

Woohoooo I fuckin did it!! This was without a doubt one of the most technical and complex things I've EVER done in my life, and just wanted to thank everyone here who helped me out... I am so grateful to this community and it's one of the best ones I've come across... Thanks so much to everyone reading this comment who helped me out, if any other newcomers have any questions about the staking process I'll be happy to help them out too now that I've gone through the entire process start to finish... Now if you'll excuse me I'm gonna go eat some pizza and ice cream to celebrate HAHAHA

[delicate cloak]

Nice job! Welcome to the club. You'll be laughing with those rewards rolling in soon. Great timing to buy the dip!

[atomic lagoon]

Congratulations mate! Watch the rewards grow and enjoy!

[hot lynx]

Now all you need to do is prepare for your first claim and triple gas ⛽⛽⛽ process 🤣🤣🤣

[gloomy gazelle]

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

[junior nacelle]

haha so guys just to be sure, when the time comes for my tokens to unlock, my tokens will be safe, because i did the entire staking process through the ledger wallet connected to my metamask, right? because i did everything through the ledger account? thanks haha

[gloomy gazelle]

As long as you don’t give away your keys

A ledger protects the keys. But if you give them away ledger can’t help you.

[junior nacelle]

ah yes, thats great... was reading horror stories of compromised wallets that scared the crap out of me 😫 hence why i got the ledger

[delicate cloak]

As pelican said, never give your keys out. No one will ask for your seed phrase ever. That's the only way to recover your wallet and move stuff. Hardware wallets are the best. I like Trezor for the open source but they're both good wallets.

[true vine]

Hi guys new to stacking here. Is it expected to have a fluctuating investment money in the SLP pool. I am guessing due to the impermanent loss I will be losing money every now and then but if it equalises the number goes back to normal? Am I right?

[gloomy gazelle]

Something like that.

!lp

[woven ibex]

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

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

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

[gloomy gazelle]

powerful Tool to analyze IL and other LP data in eth/ilv SLP
https://analytics.sushi.com/pairs/0x6a091a3406E0073C3CD6340122143009aDac0EDa

This info is for the liquidity provider token. It doesn’t consider the staking rewards in the illuvium protocol

[halcyon vault]

hi i have a same situation with you, hope they can have some solutions.

[final steppe]

No official date announced, but I recall Aaron wanting to get it out this month before the new year 🙂
Stay tuned to #📣〕announcements for more info!

[agile fiber]

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

[gloomy gazelle]

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

[delicate plaza]

What's everyone's cheapest method of getting ILV/ETH ready for the SLP pool? Transfer just ETH onto metamas and swap half for ILV or just do it on exchanges and withdraw ILV and ETH?

[delicate cloak]

I find it cheaper to use a centralised exchange due to gas for swaps on DEXs. Probably depends on the exchange/volume/withdrawal fees

[delicate plaza]

Sweet. Will just do that

[jovial root]

Personally I exchange Fiat for a Stable coin (like USDT or USDC)
Then I Transfer that to Metamask, and use exchange like Sushiswap to buy ILV and ETH.

Centralized exchanges give me "bonus" or "free" GAS on transfers... but kill me on exchange rates.

ETH is nearly always 10% different than market prices!!
IlV is even worse.

I found that USD based tokens have the least Rate difference on Centralized exchanges.

NFA

[delicate plaza]

Don't you then pay gas fees twice for USDC to ILV and USDC to Eth?

[jovial root]

Just to clarify, I buy 50% ILV and 50% ETH to use for Liquidty pool staking (SLP)

Converting from USDC to those tokens the Fee I pay is in USDC which was very cheap compared to ETH.

Staking them still costs me GAS in ETH

[delicate plaza]

I'm a little lost on this one - Don't you still pay gas fees on converting usdc to ilv or eth because they are all ERC-20 tokens?

[noble coral]

any heads up before i withdraw??

[jovial root]

From memory, my GAS fees have always been paid in the Token I was selling.
So not sure. I will see if I can find it in my transaction history

[delicate plaza]

Thanks - Were you doing this on sushi swap or uniswap?

[jovial root]

Normally Sushi, as I then do the liquidity pool there.
But I buy sILV from Uni

[opal tulip]

Not true. Gas fees are always paid via the chain's native token. The "trading fees" are paid to the LP via the whatever token you are buying or selling.
This is on top of the gas fees paid to the validators of the transaction.

You will find swapping USDC to ETH is way cheaper than
USDC to ILV.

That is because USDC to ETH is a direct interaction with the USDC/ETH liquidity pool.

Whereas USDC to ILV is via
1st USDC to ETH
Then ETH to ILV as there are no ILV/USDC pool.

[delicate plaza]

So since there is an ETH/ILV liquidity pool - it might be best to buy just ETH on an exchange and withdraw that and then swap half of it to ILV on sushi?

[brisk surge]

Hi all

[trail sail]

AYYY welcome dude!

[delicate plaza]

Something just sprung to mind about moving wallets under V2 Migration. You are required to claim rewards to migrate - doesn't that mean you are locking your claimed rewards (e.g. if ILV is chosen) to your old wallet and migrating your stake to the new desired wallet? And you won't be able to move that ILV to the new wallet until it is unlocked after 1 year?

[reef oriole]

Well done mate. Now chop some up, sit back and enjoy.

[rancid saffron]

so I see the chainlink flash pool is over, Do I need to claim my ILV before i withdrawal my chainlink?

[brisk surge]

when you are migrating, it takes the rewards that it is requiring you to claim and migrates them to the new wallet

at least that was my understand of the information I listened to

[silver loom]

hi guys can someone help me?

[jovial root]

Well done mate. 12 months from now, I hope you have the biggest smile across your face looking at all the staking rewards you earned, and locking it in for another 12 months!

And if it all goes to shit, and market collapses... we can all sit around eating icecream and crying together!

[jovial root]

Depends on the problem... but most likely someone here can help

[scenic crescent]

Just send your question in this channel, otherwise Nobody can help you out

[jovial root]

Looks like he got scammed with a DM, he is in Help area now

[delicate plaza]

Thanks! Good to hear

[runic widget]

when staking V2 comes out and youre already staking illuvium does it automatically transition over to v2?

or do you have to unstake and restake your ILV?

[scenic crescent]

you need to Upgrade it and after your stacking periode is over you can migrate it to V2, so you dont need to unstake and restake and you will keep your weight

[runic widget]

also if your staking in the core flexible pool and want to add more to your position, do you need to unstake what is already in the pool ? and restake ?

thank you though

[scenic crescent]

You can add more without unstaking, but you will be forced to claim your pending rewards if you stack a new position. So just click on the stack button if you want to add more into the pool. (dont claim the rewards by yourself, you will be forced to do it, otherwise you must do it twice)

[proud ivy]

Congratulations man. Can see the joy shine through my screen right now. Well done!

[proud ivy]

Who's buying the ice cream?? Haha.

[jovial root]

Whoever lost the most money Buys!

[proud ivy]

Hahaha jeez, harsh!

[jovial root]

Well if you are going to hurt... you might as well go "balls kicking level pain" right?
At least that way it hurts so much that all you can do is laugh

[obsidian nebula]

hey this thing is stressing me out. when this little circle graph goes all the way around, does that mean there are no more ILV rewards left?

[delicate plaza]

Yeap. 3million tokens in total are set for yield rewards. They will all be dried up by 2024 sometime. Then we should be profiting comfortably off resdiv for staking rewards

[coral pike]

You don't need that the end date of Yield rewards is already known Summer 2024 ( July I think)

[jovial root]

No more ILV staking rewards.
Still have in game rewards.
And also Revdis rewards

[jovial root]

The plan is to have anywhere from $1B-$3B annually being distributed to Stakeholders...

[obsidian nebula]

ok cool. that's what i thought. but at the rate the graphic is moving it will go all the way around way before 2024. i will calm my nerves 🙂

it's 10m total ILV minus whatever is claimed in sILV correct?

[proud ivy]

Yes but that's when mommy buys me ice cream....

[coral pike]

https://tenor.com/view/serenity-now-face-palm-gif-12741992

[coral pike]

not exactly 10 mil was the starting number it wont be the ending number

[brisk surge]

Staking rewards will be 3 million tokens. About half of those are distributed in the first year of staking. They are distributed from July 2021-July2024.

There is a really awesome graph of the rewards but I dont have it handy

[jovial root]

More complex than that.

The revenue distribution only goes to those that are Staked, the Treasury, and any LOCKED Team/Seed tokens.

So anyone keeping tokens liquid to sell.. won't get revdis.

[coral pike]

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

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

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

No one will know the true amount of ILV available till the exact time Yield farm ends. in summer of 2024

there is also a proposal that will continue the sILV creation ILV burning well past that which meaning ILV will be burned from whatever that finite number ends up being

[obsidian nebula]

thank you. some finer points there i had no idea about

[lyric nimbus]

so I'm new, is it better to do sILV?

[brisk surge]

Here is a link to the graph that shows the amount of ILV rewards distributed per fortnight (2 weeks.)

#🥩〕staking message

[jovial root]

Actually, with the latest proposal.. they are talking about Revdis being available as sILV also... so the more people who use that, the less and less tokens.
10 years from now, we could be at 5m ILV only!!!

[coral pike]

that is was about the last sentence was about . i don't think it will take 10 years

[jovial root]

Sorry missed to see that

[coral pike]

no worries

[gloomy gazelle]

We will see if that proposal gets voted on. The council is not what it once was.

https://tenor.com/view/dr-house-gregory-house-oops-gif-6118887

[jovial root]

I am interested to see council in action, and to show independence etc

[gloomy gazelle]

Yeah. It seems like there may be just a few too many things being considered right now that could be considered later AFTER a game successfully launches. But the sILV proposal did make sense as a follow up to the v2 proposal.

[obsidian nebula]

as much as i am excited to buy land. i'm so uncertain that it is truly worth spending the sILV on land instead of swapping for ILV and ETH and beefing up my SLP. i'm having some FOMO about ILV rewards.

[jovial root]

Yeah... I am very conflicted by that also.
I am just hoping that the price of sILV will rocket just before the land sale, so I can sell it and then buy ILV/ETH to stake

[delicate plaza]

I've seen on here someone mentioned it could cost roughly 50 usd for a full run - does that mean that land owners will be selling it fuel at roughly that price to the pool? Could work out ROI if thats the case for each tier land/how long it would take for the land to pay itself off

[coral pike]

as per the proposed IIP

Revenue Distribution
Land owners will have the opportunity to earn revenue from players in the main game through novel use of a Balancer multi token Weighted
Pool. They will do so by swapping fuels they generate in game for ETH. On the other side, players in Illuvium will swap ETH* for fuel, which is
used to complete all transactions in the game except for IlluviDEX trading between players.

The target will be for land owners to be able to earn approximately 5% of the total revenue generated from in game purchases in Illuvium. This is
achieved by the Illuvium DAO swapping 19 fuel for every 1 fuel swapped by players of Illuvium: Zero.

[fluid arch]

Hello! I'm new here and was just curious about the staking. On the website it shows the 2 core pools. If the Sushi LP is really almost 400% APY, while the ILV pool is 35%, what is the reason for choosing the main one over Sushi?

[jovial root]

Hi, firstly make sure you Turn off all DMs, they will scam you.

2nd Sushi Pool requires equal value of ILV and ETH, and although it can receive revenue distribution, the Sushipool staking only receives Revdis for the ILV portion, not the ETH.

Also there are extra risks with the Sushipool.
Good to watch some of the pinned videos here or in Community content.

Personally I have staked everything in the Sushipool, and then all rewards I collect as ILV automatically stake in the ILV pool.

NFA

[fluid arch]

So you're saying that with the sushipool you have to stake both ILV and ETH of equal value? Or am I misreading that?

[jovial root]

Sushipool is about Liquidity (providing funds there to allow others to buy and sell).
So if you want to stake $20k, you need to have $10k worth of ILV, and $10k worth of ETH.
You then Add that to the Liquidity pool and sushi will give you SLP tokens in return.

You then take those SLP to illuvium.io and STAKE those to the Sushiswap Core pool.

There are some YouTube videos explaining how to do that.
If anyone msgs you saying they can help, or they are Mod... block then, they are scammer.

[jovial root]

Have a read of this, it is from the Pinned msgs

#🥩〕staking message

[fluid arch]

Got it, that makes sense. So once the staking period ends what happens? I just have the opportunity to reclaim my ILV and ETH?

[tender steeple]

I have a question. What is a good amount of money to put into staking. I don’t make much and am pretty young. Is there a certain price that would be considered to low to put into stakes. Something like $200-$300?

[brisk surge]

I would say you don’t want to do anything under $1000 if you aren’t able to put anything over I would suggest saving that money for the game or you could also purchase sILV since the price is cheaper and once the game comes out sILV will be 1:1 with ILV in the game. Due to transaction costs of staking, eth fees, etc., it’s not feasible or if you want to stake, still wait for v2.

[brisk surge]

Once you are no longer locked you are free to withdraw your tokens depends on if you choose to lock or just go with flexible.

[tender steeple]

Thanks for your input. I’ll keep looking into it as well 👍🏼

[brisk surge]

You’re welcome. If you have any other questions feel free to ask, and one of us Moderators or Lead Moderators will answer you!

[obsidian nebula]

i'm really hoping the uniswap sILV/ILV pool stays strong after the land sale. it will be so valuable if i can keep using that to reinvest the rewards into SLP

[junior nacelle]

Hahaha thanks so much man, and thank you too for all the help, it really was such an amazing help to me and I definitely couldn't do it without it!!

[agile fiber]

Where do you review the latest proposals?

[atomic lagoon]

#809220563397902346 message

[agile fiber]

Thank you

[jovial root]

Yeah... I think whoever is providing the liquidity should be doing well from the fees!

[obsidian nebula]

i have considered adding to that pool....... 🤔

[old marten]

Does the ILV rewarded for SLP staking get compunded?

*if so, at the SLP rate or the ILV rate? there is roughly a magnitude difference there...

[obsidian nebula]

ILV rewards claimed compound into the ILV only pool while they are being vested.

the only way to compound ILV rewards back into SLP is to claim the rewards in sILV, go to a 3rd party DEX like uniswap and swap the sILV for ILV and ETH, then turn it into SLP tokens, then come back an stake it in the SLP pool. doing it that way, you take quite a hit in fees and exchange rates. you'll have to do the math and decide if it's worth it to you.

[old marten]

Vested tokens need to be claimed via ETH transaction fee then? To compound even before they can actually be technically "claimed" (post vesting)

[obsidian nebula]

when you claim rewards in ILV, there will be an ETH gas fee. after the vesting period they are unlocked. i am unsure of what happens with them then. that's a good question. i could be wrong, but i think funds that are unlocked incur a gas fee to get them to your wallet. i'm not sure what happens if you restake it without transfering it to your wallet.

[atomic lagoon]

yes. claim will cost gas. that's why most only claim when reward is 1% - 5% of gas fee. If you don't claim, the ILV rewards will not be compounded.

[old marten]

Sorry, I was unclear with how I worded that. I mean, if say I am staking SLP tokens at a 2.00 weight for 1 year the ILV tokens that vest in the meantime are not eligable for compounding without gas fees correct?

[old marten]

TY I think this answers my question lol

I think I have 1tx fee left in my wallet so I'mma wait a grip on that...

[obsidian nebula]

well the question i have now is after an ILV claim is vested and unlocked. does it cost gas to transfer it to a wallet.

second does it cost gas if claimed ILV is done vesting and then staked without ever transferring it out of the staking protocol

[atomic lagoon]

claim only when the gas is low like 30 gwei 🙂 and the reward are 1% - 5% of the gas fee.

[atomic lagoon]

1st question, yes it will cost gas to withdraw. but if u migrate to v2, it may be cheaper (by how much I don't know)
2nd ques, I don't think it is possible now to directly stake back unlocked token. I also don't see that in v2 proposal. But may be when the v3 comes.. this might align with your unlock rewards 🙂

[obsidian nebula]

i hope that is an upcoming feature. that would be a little rough if unlocked funds had to be withdrawn rebalanced (ETH/ILV balance for SLP) then restaked again. i suppose that's only 3 gas fees but it still ads up.

i think a lot of people also forget that ETH 2 is a thing also and before staking rewards are done gas on ETH in general should be getting much better in addition to v2 or v3 staking on ILV

[gloomy gazelle]

The fully vested rewards will stay staked and earning until withdrawn.

[obsidian nebula]

when my staked SLP unlocks after the 12 months, can i restake and relock it without gas?

[gloomy gazelle]

Unlocked deposits don’t need anything done to them. They stay earning.

[mighty rover]

How can the minted ILV be at 5M only? I thought that only 3M remains to be minted from staking rewards?

[gloomy gazelle]

The proposal is for burning existing ILV. By allowing revdis to be claimed as sILV or as ILV. When claimed as sILV the ILV bought for distribution would get burnt and the user would get sILV.

[obsidian nebula]

so after 12 months my SLP unlocks but still earns at x2 weight?

[mighty rover]

Oh I haven't read it. Mind giving me a brief overview of proposed mechanism to burn existing ILV?

[gloomy gazelle]

I was editing the message and it should now cover it.

The proposal may or may not ever get voted on my the council. We will see

[mighty rover]

Ah I see. How many ILV tokens are planned to be used as revdis in the first place (before this new proposal of allowing sILV to be the form of the revdis)?

[gloomy gazelle]

What do you mean? Are you asking about total ILV supply?

[mighty rover]

Yes, the part of the total supply used for revdis.

[gloomy gazelle]

Oh.

!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.

[gloomy gazelle]

The vault collects all the eth paid to the game studio and then buys ILV from the liquidity pool on sushi at market price.

Then distributes those tokens to stakers.

[jovial root]

Brilliant way to counter dumping right!

[mighty rover]

Okay this means that the circulating ILV in pools will be scarcer, right? Is there any info regarding the number of ILV tokens circulating in the liquidity pools?

[gloomy gazelle]

The liquidity pool is not the same thing as the staking pool. And yeah the info is on the blockchain. And there is some more token info I’ll grab and share here.

!contract

[woven ibex]

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

[gloomy gazelle]

ILV token Unlock breakdown for dummies:

Unlocking March 2022-March 2023
500k Pre Seed - 41,666/month
1.5m Seed - 125,000/month
100k Team - 8,333/month

Unlocking March 2022-March 2025
1.4m Team 38,888/month

Unlocking July 2022-July 2025
Yield farm rewards - approx 125,000/month over the first year
Yield farm rewards - approx 62,500/ month over the second and third year

Ingame rewards starting March 2022
1m tokens -Unknown/month

Treasury spending
1.85m tokens -Unknown/month

Total Unlock/month March2022-July 2022- 213,887/month
Total Unlock/month July2022-March 2023- 338,887/month
Total Unlock/month March 2023-July 2023 - 163,888/month
Total Unlock/month July 2023-March 2025 - 101,388/month
Total Unlock/month March 2025-July 2025 - 62,500/month

Circulating supply End of February 2022- 635k
Circulating supply End of June 2022- 1,490,548
Circulating supply End of February 2023- 4,201,644
Circulating supply End of June 2023- 4,857,196
Circulating supply End of February 2025- 6,884,956
Circulating supply End of June 2025- 7,134,956

The above are educated estimates and may not be 100% accurate.
This does not take into account tokens that may enter circulation from ingame yield or from treasury spending.
Tokens are considered circulating once they are initially unlocked, regardless of whether or not they become or remain staked in a core pool.
The Yield farm numbers assume that ONLY ILV is claimed and does not adjust for any sILV that may be claimed.

[coarse harbor]

^ dat sell pressure 😱

[gloomy gazelle]

https://etherscan.io/token/0x767fe9edc9e0df98e07454847909b5e959d7ca0e#balances this page shows where all the ILV that has been minted is.

Most is in the staking pools

[gloomy gazelle]

Lol we all know unlock doesn’t mean sell. But it could add up for sure. But so does revenue from millions of players.

Upgrade with one click for each of the two core pools.

[mighty rover]

Ic Ic. Okay I get it now.

[coarse harbor]

Was only stirring brother, i've got my game plan for ILV. Everyone is different.

[gloomy gazelle]

MIGRATION will happen later and will take a transaction for each DEPOSIT. All vesting and vested rewards will be moved as part of the UPGRADE transaction

[coarse harbor]

Ahh awesome, now that's the efficiency i like to see!

[mighty rover]

That's pretty clever. So the ILVs in the LP will be bought by the DAO to be redistributed as revenue to stakers. But if stakers opt for sILV, the ILV will be burnt thus further reducing the total supply. If that's the case, there's a chance that the total supply of ILV may decrease so much with more and more revenue being claimed in the form of sILV right?

[gloomy gazelle]

There may be a token approval transaction as well. But nothing big.

[coarse harbor]

Ahh spewing, so i'll have to do it like 40 times since i've got 40 different 'claims'
(really regret claiming a few times a week at the start haha)

[gloomy gazelle]

That’s the proposal yes.

[mighty rover]

Is there a reasoning behind why we're trying to reduce the total supply even further?

[gloomy gazelle]

No. Only the deposits. Not the claims.

[coarse harbor]

Wooo! awesome.
Cheers for the info mate

[mighty rover]

Oh it benefits those who are holding ILVs (the team and stakers).

[gloomy gazelle]

Scarcity increases token price. But the other reason is to benefit those that are making small claims and want to use their funds in the main game. sILV is usable while ILV is not.

[mighty rover]

I see because getting revdis as ILV is illiquid for a year (the vesting period) is that right?

[gloomy gazelle]

Not from revdis. Revdis is always unlocked.

And revdis is what the proposal is about. Well that and in game rewards.

!earn

[woven ibex]

In Illuvium there will be several options to P2E:

• sell captured Illuvials
• sell farmed materials
• sell crafted items
• play the marketplace (buy low, sell high)
• wager on battles in the Leviathan Arena
• earn some of the 1 Million ILV set aside for in-game rewards
• …

BUT, while the game will be free to play, in order to participate in the earning part of the economy, a bit of money needs to be invested. A full cycle of travelling, curing shards, etc. is currently estimated to be around $50 (this can still change).

[mighty rover]

Oh I see. Then can't the smaller players just get the revdis in ILV and exchange them as sILV or ETH in Sushi?

[gloomy gazelle]

They could. But when that costs $100+ in eth fees it’s prohibitive for small stakers. Thus the idea to give them sILV as an option

[mighty rover]

Ah Ic. So gas fee is the problem. If we have Immutable X, is it possible to exchange claimed ILV to sILV within Immutable X, meaning no gas fee?

[gloomy gazelle]

Eventually it may even be possible to give them sILV on IMX.

[gloomy gazelle]

No. The team won’t facilitate swapping ILV for sILV.

[old marten]

I would really like to see the barrier of entry lowered from ~$50 USD to like ~$5 even if it requires some unreasonable grind. I recall recently playing runescape for up to 15 hours just to earn a "Bond" for ingame membership which is only worth like ~$7USD

Obviously this is post ETH2.0 dreams

[gloomy gazelle]

Nope. The price of entry makes it unprofitable for bots. It will remain relatively “high” but in reality it’s not so bad.

[gloomy gazelle]

This is not #802110554784661544 channel. Take your ideas there.

[old marten]

Okay that's fair RS is rittled with bots lmao

[mighty rover]

Ic okay thanks for the info. I should read up. Sorry for asking questions that could've been answered if I read more :'-)

[gloomy gazelle]

!read happy trails

[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

[sacred cosmos]

If those are rewards... I wonder what your SLP is lol

[mossy hinge]

Is it worth staking 1 ILV?

[queen grove]

Dude. He's just going to say he can't give financial advice for the 1000th time. For how long? As opposed to selling it? Are you financially independent? We don't know.

[mossy hinge]

Oh sorry for not being clear, I mean in terms of gas fee

[queen grove]

Try selling it for ETH and then buying 3 sILV on UniSwap. Maybe you can sneak out a T1 Land. Lol

[mossy hinge]

As in, do the staking rewards outweigh the gas fee

[queen grove]

After a year maybe. Still worth it to wait for V2.

[mossy hinge]

I plan to stake for a decent time, maybe 3 years. I do have ETH separately for land, but should I bother swapping it for sILV? I can use ETH to buy land as well right

[digital jungle]

you should wait for staking V2 to save on gas

[light gorge]

Silv can give you 3x buy power. And about gas i thinks its not worth rn better wait for v2

[strong forge]

when does stakinf start?

[atomic lagoon]

Jun/Jul 2021

[mossy hinge]

I understand now! Thanks!

[strong forge]

I got that but like when does v2 start

People say I should wait

[cunning perch]

in 1-2 weeks to a month from now

[strong forge]

How do I move it from v1? And is it worth it to put more in to V1 or will that be a lot of gas

[cunning perch]

It depends on you. If you are locked, you then need to upgrade. Can't move it (migrate) until your tokens are unlocked. If you have enough to be worth the short-term gas, you can stake on V1 and then upgrade. If it's small, then wait for V2.

[lofty dock]

Hello, has the migration to V2 staking be voted on? What is thr timeline for action? Will there be a video to show out to do it in a proper manner without risking our stakes or too much gas fees? I only have stake in the ilv pool so I think I can simply transfer during the window if I read it all well

[cunning perch]

[lofty dock]

Thank you

[opal ice]

How can i be a council member?..

[cunning perch]

#🔗〕helpful-links there are Medium articles in there that give you full details about everything

[opal ice]

I and my friend hv arnd 500 ilv in staking..but the rate of generation of ilv has gone down?..why??earlier in 24 hrs we use to get more ilv now it is reduced..why

Someone pls tel abt this

[cunning perch]

did you even read the docs? If you did then you should see that every two weeks, the reward distribution goes then 3% and also the fact that more ppl join the pools will decrease it further. I believe you have staked without having done proper research.

and please keep to one channel regarding staking. your Qs are all over the place

[bright salmon]

Do we have a date about the update of staking V2 ?

[cunning perch]

nope. 1-2 weeks from now to 1 month probably. gotta he to wait for it to go live

[bright salmon]

This delay might put a negative pressure on ILV price, since it's slowly bleeding.
SP500 is showing a corretion -6% that's comming + BTC is holding near 45.5k or 42 823 supports are thin.
ILV price need to hold 1k otherwise 700 or +-680 will be in a resistance zone. Even 580 if it's go bad.

[cunning perch]

I see everything as more buying opportunity tbh. Not worried about the price at all. V2 will help, but it's not gonna do magic. It is still bringing the same tokenomics through which the mechanic of staking changes a bit.

[atomic lagoon]

if people are willing to sell their ILV at 700 - 580, I will surely buy anytime 🙂
even sell my car to buy ILV

[hot lynx]

Zup

[hot lynx]

Agree V2 will be good but not magic

[hot lynx]

You will be waiting forever 🤣

[fluid arch]

How does claiming rewards from staking work. Do you get them periodically or do you have to wait for your locked period to end?

[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.

[fluid arch]

Got it, thanks for the info! Sorry for asking questions that have been answered a million times 🤣

[cunning perch]

It's ok. Not asking is bad. Always ask and don't shy out. There are lots f amazing ppl that answer you. (watch out for DMs. They are all scam)

[fluid arch]

Yeah I already got hit with 1 haha. The second I joined the server I got one that claimed to be sending instructions on linking my wallet. I'm like sure whatever, click the link. "Please input your secret phrase." Ah got it, it's a scam lol

[cunning perch]

Good that you are vigilant. Send their IDs (the long ones) in #🚨❗〕report-scammers

[delicate cloak]

Make sure to read through this!

[fluid arch]

Yeah, I'm new here for sure but it's not my first rodeo haha. Fell for 1 scam (in a small amount luckily) back when I first got into crypto in 2016. I learned my lesson

[brisk surge]

hey, i was thinking about staking some time ago but i wanted to wait for V2. is it already out or if not is there a date when it’s going to come?

[atomic lagoon]

nope. might be in 2 - 3 weeks.

[brisk surge]

okay thanks

[meager agate]

If I’ve got a fresh stack ready to stake should I just do it now or is there any benefit waiting for V2?

[delicate cloak]

Depends how heavy your bags are. If they're big enough, the rewards you get in the interim may be worth staking now.

[meager agate]

Not very like 1 new ILV to stake maybe 2 this week if things go well on other stuff

[delicate cloak]

I'd wait.

[meager agate]

Nice one

[obsidian nebula]

!contract

[woven ibex]

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

[cunning perch]

It is also pinned in the channel. Please refrain from using bot commands in channels or use them in #👑〕bot-commands

[gentle axle]

Hey everyone, staking in SLP pool here. There's something I never actually asked/read about regarding staking with Illuvium, so here goes. Disclaimer: the blockchain I am mentioning is not for comparison purposes, simply as an example of my understanding. When holding Cardano coins, one can stake them in a staking pool. The amount staked is used by the pool as a means of "creating" new blocks by aiding the validation of transactions. The new blocks are distributed by the treasury. In other blockchains, staking rewards are only from the transactions etc... So, how does ILV staking work? Staking or locking our ILV coins in the pool does what exactly? Do they validate hashes? Are they simply inert "address ace8hj...k2e has 2 ILV hence rewards = n"? Are they imbedded in a mathematical model which helps producing new "blocks"? Of course my terminology may not apply here. Thanks in advance for your insight 😊

[delicate cloak]

What you're referring to is the Proof of Stake consensus mechanism. This happens on L1 with Cardano and ETH is transitioning from Proof of Work to PoS. That's where the validation of hashes is happening with the creation of blocks.

ILV on the other hand is more utilising staking as a way to reward early adopters (Yield Farming is a specific number of tokens which has been allocated) and also lock up tokens to create some price stability. Lock up periods prevent selling. And then staking will be the function of the way to receive RevDis in the future too.

[brisk surge]

Good afternoon! Two questions: 1) Is there a video that explains how to upgrade to Staking V2? 2) Has the upgrade period for V2 started yet?

[gloomy gazelle]

V2 is not out. There are a few videos online already. But the team will publish more official information regarding v2 when it’s closer to the time it launches.

[brisk surge]

Awesome. Thank you!

[acoustic obsidian]

I feel you. Same here

[delicate plaza]

Same here. Can't help but check the discord every few hours just waiting for some kind of update on V2 😅

[acoustic obsidian]

Haha, i know 😁

[brisk surge]

I just hope it happens while the gas fees are still low.

[lyric chasm]

So anyone see the major price increase or am I crazy?

[tame fog]

New to staking and waiting on V2. Could someone tell me why someone would stake for sILV over ILV?

[lyric nimbus]

I saw it. Too bad I don’t have any yet lol

So if I’m wanting to get in I guess the consensus is to wait for V2?

[tame fog]

sorry if duplicate question. i kinda just popped in here lol

[tame fog]

ye, it looks that way

[deep jungle]

I bought recently and I am waiting for V2 to stake on a Layer 2

[lyric nimbus]

Gotcha…I just started watching YouTube videos to figure this all out yesterday so I’m still trying to learn everything

[cyan rampart]

Staking V2 isn't on Layer 2, it does have gas improvements over V1 though.

[cyan rampart]

You could take sILV as a reward to either spend in-game (after launch) or to spend on land. Some people also claim sILV to liquidate it. ILV claimed as rewards undergo a 12 month vesting period, while sILV does not.

[agile hamlet]

Hey guys I am new here. Just a question do you really stake ILV with these high gas fees like 150$ or are there other ways?

[cyan rampart]

For the time being, you HAVE to stake on the Ethereum network, which means you will pay gas fees. Staking V2 is around the corner, and will reduce those fees, but you'll still pas gas fees.

You can wait until gas prices drop though, they were as cheap as 40 gwei a few days ago.

[gloomy gazelle]

There will be two weeks to get into v2 before it starts distributing rewards.

[gloomy gazelle]

!claim it’s up to stakers to claim which token they want at the time of claiming not at the time of staking.

[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.

[ionic heron]

Hi if i have 1 ilv for reward. and i claim it in terms of silv. Do I get 1 silv ? And is there a place where i can track price of silv ?

[gloomy gazelle]

!contract add the sILV contract to you wallet

[woven ibex]

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

[gloomy gazelle]

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

Here’s a useful tool for viewing sILV price.

[gloomy gazelle]

!claim Yes. 1 ILV claimed or 1 sILV claimed. It’s up to you.

[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.

[turbid drift]

When is staking v2 looking to start? Also when transitioning from v1 to v2, do you need to claim rewards before or is it claimed along with the swap?

[gloomy gazelle]

It gets claimed as part of the upgrade. Don’t claim before starting to upgrade.

V2 is hopefully sometime before middle of January.

[turbid drift]

Nice one, thanks bro

[solemn cosmos]

Sorry if this has been asked heaps, but can someone give me a quick version of the differences between ILV stake and Sushi LP on the website?

[gloomy gazelle]

!staking

[woven ibex]

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

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

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

[gloomy gazelle]

!lp

[woven ibex]

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

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

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

[gloomy gazelle]

One is easier (ILV only pool). The other is more complex and has higher gas fees (eth/ILV pool).

[coral pike]

<@&821154860816793604>

[solemn cosmos]

Thanks so much! Am I right in saying eth/ILV pool has better rewards though?

[gloomy gazelle]

Yeah. The apy is much higher.

Higher risk higher reward. Also it’s more helpful to the protocol

Deep liquidity is very nice

[limber folio]

when unstaking, it shows you 2 buttons, for ILV and sILV. it says you have to claim your rewards, but I thought all rewards were locked for a year? how does this work?

[atomic lagoon]

if you claim as ILV it will be locked for a year. so it will go to vesting. If you claim as sILV, you will get it immediately. But sILV can be only used in game and for land sale.

[limber folio]

I see, thanks

[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.

[prime pewter]

Was there word at some point about ILV staking moving to Immutable X?

[cunning perch]

ILV staking will move to L2 by V3. It's just a word at this time.

[prime pewter]

Thanks dude

[regal abyss]

I can’t withdrawal my slp to restake
When I select withdrawal it says I have pending rewards that need to be claimed
When I claim them and spend the gas fee and retry I’m met with the same message saying I have more pending rewards even if it’s just a few cents that I have to pay for again? Am I missing something or doing something wrong
I’ve paid 3 gas fees on rewards less than a dollar to try to withdraw and restake at a longer lock up any advice?

[gloomy gazelle]

Use custom gwei when making the transactions. Set them all as the exact same gwei. You should click withdraw and do the transactions it pops up.

Don’t go to claim rewards under rewards tab.

[regal abyss]

Im in the vesting tab to withdrawal and it says the same thing

[forest bane]

Is there somewhere i can read the differences between ILV and Sushi LP Pools?

[gloomy gazelle]

Yeah. It will take two transactions back to back.

[gloomy gazelle]

!lp

[woven ibex]

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

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

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

[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

[regal abyss]

I’ve read all of the documents in the pins to figure this out Message: withdrawal 2.7 sushi lp
Before you can withdraw you have to claim existing rewards in this pool etc.

Everytime I claim rewards i go back to see .03 cents pending rewards that need to be claimed already within the 4 seconds it takes to refresh and try to withdrawal again

[gloomy gazelle]

Really you may just want to wait until v2 staking launches. But that’s up to you.

[gloomy gazelle]

Don’t go to claim. Just press withdraw.

What wallet are you using?

[regal abyss]

Coinbase wallet

[forest bane]

Essentially main difference is the liquidity to ETH?

[gloomy gazelle]

Press withdraw. You approve first transaction. A second transaction should pop up and you approve that one. Make sure BOTH transactions have the same gwei. Or set it to fast or something.

[gloomy gazelle]

Yeah. SLP provides much higher returns. But has much higher fees. And is more complicated. As jjazz can attest to

[forest bane]

Sounds like a tunnel for sure

[neat stump]

hey is it worth to stake my 1 ilv token because all the gas fees and stuff

[regal abyss]

Okay I’m trying again

[gloomy gazelle]

Not right now. Maybe after v2 launches.

[regal abyss]

Hey pelican when is v2 set to launch?

And if I set the gwei to 45 on both should that be fine?

[gloomy gazelle]

Less than a month seems likely. But maybe a little more.

[gloomy gazelle]

You may need to wait for days. And then that could be a problem.

Oh wait no it could be ok. Gas is lower than I thought.

!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**

54 Gwei

Average :person_walking: | **3 minutes**

55 Gwei

Fast :zap: | **15 seconds**

55 Gwei

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

[neat stump]

how much gwei is ok in your opinion? to stake 1ilv

[gloomy gazelle]

It depends on network conditions. But I usually wait till the weekend and go for under 50 gwei.

But that’s the gwei price. Not the limit. The limit should not be reduced. Ever.

You could make a copy of this sheet to calculate usd costs for staking interactions. https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit?usp=sharing

[regal abyss]

So now I wait for the gwei to go down to my limit price?

[gloomy gazelle]

Yeah. Did you approve the two transactions?

[regal abyss]

I did both transactions that come through phone back 2 back pelican

[forest bane]

Do you know how many ilv tokens are staked atm? Total 7mil in circulation right?

[gloomy gazelle]

Ok. That should work. The only thing that could happen is the transaction runs out of gas. Hopefully not.

[regal abyss]

I’ve only been approving the first one this whole time was that the problem?

[gloomy gazelle]

Maybe.

[regal abyss]

Thank you for you help I’ll be back when it’s done pending on coinbase with an update

[gloomy gazelle]

Not really 7m in circulation. No.

[regal abyss]

Only 6% of the total supply is circulating jezza

[gloomy gazelle]

634,776 in circulation.

The rest is locked and vesting or is held by the DAO as rewards or treasury. Not in circulation.

[regal abyss]

How long do I have until gas runs out pelican?

[gloomy gazelle]

Team tokens will be unlocking from March 2022 to March 2023 (100k Team) and from March 2022 to March 2025 (1.4M Upper Management) linearly.

Seed and preseed will be unlocking from March 2022 to March 2023 (2M).

Rewards will start to finish their 1y vesting period in July. Let's call it 6 months of tokens, and 1.64M staking tokens go into circulation in the first year. As much as 700k-ish of these could conceivably be finished vesting, since staking rewards were somewhat frontloaded.

If the game is out, some number of the 1M in-game rewards will be unlocked as well, let's call it 5% for calculation sake. So 50k.

Anything unlocking linearly from March 2022 to March 2023 (1 year unlocks) will be 75% unlocked (9 months from March to Dec).
Upper management tokens will be 25% unlocked (9/36).
That makes 75k Team tokens + 350k Upper Management + 1.5M Seed/Preseed + 635k (current unlocked) + 700k (vested staking rewards) + 50k (in-game rewards) = 3.36 M tokens.

Note that the treasury tokens are technically unlocked but not in general circulation, and they amount to something like 1.8M tokens.

[gloomy gazelle]

Oh. It depends on what your wallet estimated for the gas limit. And how much ILV you are making as rewards every block. But really it should work.

[regal abyss]

Gotcha because both transactions would sent at the same time clearing one then the other simultaneously without the time frame to get a reward?

[gloomy gazelle]

This should have the info on how much ILV is staked. https://dune.xyz/xastor/Illuvium-Dash

[forest bane]

This is a crazy way to crowdfund. I am so used to the centralised way

[gloomy gazelle]

Yeah. Since it’s set to same gwei it should yes.

[regal abyss]

Oh man I’m praying for a 50 gwei

[gloomy gazelle]

I’ve had transactions pens for days. And still work. Just not the double SLP claims. Those I usually set to something closer to current gwei. But hours should be fine.

[forest bane]

But main reason for staking is stability in the company right? They want to maintain the value of the token

[gloomy gazelle]

That is one of the benefits to the DAO yeah.

!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

[regal abyss]

Pelican thank you for you help it worked

[forest bane]

Is there anywhere i can see ILV shareholder distribution?

[gloomy gazelle]

https://tenor.com/view/illuvium-ilv-illuviumio-yield-farming-staking-gif-22201712

[regal abyss]

Hahahah

[gloomy gazelle]

It’s all token holders. Not exactly. It’s on the blockchain. But not easy to know. The dune app I shared above has a lot of info about token holders. So does the token distribution post I shared above.

[regal abyss]

Where do I go in discord to find info about land sale

[gloomy gazelle]

#🎮〕illuvium-zero

Too much stuff pinned in there.

[gloomy gazelle]

It’s not a company. It’s a DAO. It’s not stock. It’s a governance token.

[gloomy gazelle]

Here’s my recommended viewing. https://youtube.com/playlist?list=PLuTQau_zXjlEV2niELD1mn0lfYlXOkoCr

[forest bane]

Awesome man, ill do some research! Appreciate all the help

[gloomy gazelle]

!read if you want the official documents.

[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

[ionic heron]

is there any website that can notify us if gwei gas fee goes below a certain number?

[cunning perch]

You can check https://etherscan.io/gastracker but I don’t think it’ll notify you.

[onyx rain]

If we are staked in multiple pools, will we have to pay multiple gas fees to move to V2?

[cunning perch]

Upgrade, only 2 (you upgrade the pools not stakes). Migrate, as many stakes you’ve made on V1 + claiming rewards

[onyx rain]

Ty

[vivid hatch]

Guys I've some questions about upgrading to v2, I read the pinned articles but things not really clear for me. I got some SLP staked as unlocked right now and I've never claimed any rewards so far. So, Is upgrading to V2 active for now? Will I need to lock my stakes for 1 month before upgrading to V2?

[atomic lagoon]

V2 is not active yet. You don’t need to relock again. You just need to upgrade once to v2 when it is live.

[regal marten]

I can do that. Would you expect that with or without staked rewards?

it would also be nice to have some cumulative graphs I realised recently by looking at other dashboards

[noble coral]

Hello I need your help! I have withdraw my staked ilv and now its in my ILV balance how do i then send it to metamask??

is it sushiswap i need to use?

[brisk surge]

You would have to make sure you are sending it to your ERC20 address that you have access too with MetaMask.

[noble coral]

its okay ive sorted it thank you very much tho!

[brisk surge]

Unless you are swapping or adding liquidity then you would use sushiswap

[potent sable]

the treasury receieves revdis yeah?

[proper ingot]

The latest news, afaik, is that for unlocked deposit the best option will be to straight migrate to V2. Once in V2, you'll have to lock for a minimum of one month to be eligible for revenue distribution. All of this after V2 goes live.

I may have missed something, but before V2 comes online, there will be a step by step guide for sure. Keep an eye out bud

[proper ingot]

I believe that is how the illuvium studio is meant fund its operations

[potent sable]

That was my guess. Just keep having missing tokens in my calculator. Idk lmao but I think I've figured it out

[proper ingot]

What'd you find for treasury, pins in token mention around 1.8mil, but the distribution graphic from whitepaper has it 1.5

[delicate cloak]

There were approx 300k leftover from the initial balancer sale

[proper ingot]

That explains it yeah. For some reason I thought the unsold tokens were assigned to the in-game rewards pool, mb

[gleaming brook]

When is the target date for V2 staking? Thanks

[cunning perch]

1-2 weeks to 1 month. Nothings fixed. It's being audited now

[delicate cloak]

That is a potential possibility but nothing was confirmed. There was also talk of adding it to the prize pool and then having it all generate RevDis to continue to fund the pool going forward. But no official IIP has gone through.

[gleaming brook]

Thanks, just want to be sure I did not miss the timing

[cunning perch]

You won't miss it. It will be announce and they hype and tons of Qs will def let you know something is going on 🙂

[gleaming brook]

Got it, thanks. Have been busy IRL and have not visited server much

[gloomy gazelle]

Haha thanks man. I was actually saying that the info was already there if they wanted to dig into the numbers. The fact is I feel like the data is there already. Like how many of the ILV tokens on the market are staked in the ILV only pool. The vesting ILV rewards don’t need to be included I’d think. You could put it separately I guess.

[exotic flicker]

Hello everyone sorry if this has been asked before but I just got some ILV yesterday and I want to stake . I would prefer to stake it on my trezor is this possible ?

[cunning perch]

Hey. Yes it is. You can add your Trezor to MetaMask and it automatically creates a new wallet that interacts with the Blockchain while using your Trezor as the key holder.

and also watch out for the DMs. they are all scams

[exotic flicker]

Does it matter if I have an existing mm already? Will the existing mm be the one that goes onto the trezor ?

[cunning perch]

The moment you add a cold wallet like Trezor or Ledger to MetaMask, it creates a new wallet. You should use that wallet to deal with the tokens and use your Cold wallet to give permission and sign contracts

[exotic flicker]

I see , will I still have access to my old meta mask or will I need to import it

[cunning perch]

When you add it for the first time, another wallet under the name of (probably) "Trezor 1" will apear

[exotic flicker]

Ohhh so it’s just a sub wallet under my main wallet

[cunning perch]

you will have access to all the wallets. the one that is connected to Trezor will have a different name. So even if your MM got compromised, since that specific wallet uses your Trezor SEED, no one can touch your tokens.

[exotic flicker]

Awesome thanks so much !

[cunning perch]

anytime 🙂

[exotic flicker]

One more question is there an easy way to see the approximate staking apr

[cunning perch]

the only way is to connect your wallet to the staking website.

[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

[exotic flicker]

Thanks ❤️

[cunning perch]

you replied to a bot, but you are welcome haha

[exotic flicker]

He’s a good boy

[cunning perch]

That he is. watch out for DMs btw. They are all scams

[exotic flicker]

I have my permissions disabled for messages but true I already got like 5 friend requests lol

[cunning perch]

you know what to do then 🙂

[exotic flicker]

Yeah I’ve been in the nft game a while my dms would get filled everyday by scams lol

[cunning perch]

They all want your money haha

[exotic flicker]

Let me find some first haha