🥩〕staking

[hot lynx]

Zup

[cunning perch]

hey m8

[hot lynx]

Any news on the dates of V2
I am thinking it's march

[cunning perch]

Nope. not yet

V2 will be in Dec or January. Def not March lol

[hot lynx]

ETH 2

[cunning perch]

That we will have to wait and see

[hot lynx]

Ye Np I am waiting until V2 for my new address staking

[rancid delta]

Hello, if i stake for 2.0 weight i get also x2 revdis or just x2 APY?

[cunning perch]

whatever 2X the tokenomics offer, you get it only if you lock for one year

[rancid delta]

yes of course, for weight 2.0 you have to lock for a year, the question is: do i get x2 revdis or just x2 APY?

[cunning perch]

It's not that simple as there are lots of other weights in the pool. But in simple version yes. Whatever 2X a 1-year locked token gets, you get it too if you lock.

[exotic flicker]

I don’t get the 2x thing lol

I see that apy for core staking is 30 something % if locked for a year*

[gloomy gazelle]

#🥩〕staking message this pinned post has a spreadsheet that can be used to calculate ROI

[gloomy gazelle]

That is the 2x. If you stake flexible then you get half that percentage (1x).

[rancid delta]

this is also for Revdis? or Just for APY? 🙂

[gloomy gazelle]

It’s for revdis as well.

[rancid delta]

thanks!!! 😆

[gloomy gazelle]

How long you lock it up for impacts how much revdis you will receive.

[vague knoll]

is it possible to see how long I have staked my ILV?

[cunning perch]

"vesting"tab in the staking website

[vague knoll]

Thank you!

[regal marten]

Got it 🙂 Looking to improve the dashboard though, it is a bit limited to what I was interested in when I created it 😅

[lyric nimbus]

Hi guys! I’m new to the game and want to stake but might only be able to afford 0.5 ILV at the moment. Is it worth staking now or wait till V2 with the lower gas prices?

[atomic lagoon]

wait for v2. and lower gas price ofc. 🙂

[lyric nimbus]

Is it still a couple of weeks out? Or do we not know for sure yet

[atomic lagoon]

I think about 2 - 3 weeks. But for 0.5 ILV, the rewards you get in 3 weeks even won't cover the gas fee for upgrading to v2 if you stake now. so better to wait.

[lyric nimbus]

Cool thanks for advice!

[gloomy gazelle]

!silv @sinful valve

[woven ibex]

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

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

[potent sable]

Exactly this is where I keep getting confused. This sort of stuff

[gloomy gazelle]

The whitepaper was made before the token was launched. Not all of the tokens sold. So the treasury is holding the other tokens.

[potent sable]

So the ingame rewards section doesn't generate revdis?

[gloomy gazelle]

correct

[potent sable]

Okay so there's 9 million total that generate revdis. That's that?

[jovial root]

Staking rewards don't receive revdis until they are claimed

[potent sable]

Some not yet released from yield farming. But that's all that's missing. Approx 7.2m receieve it rn more or less

[gloomy gazelle]

not quite. Since not all of the 3m staking rewards have been claimed

[potent sable]

If all staking rewards were released it would be 9m

[jovial root]

Also that figure would only be correct if all Community owned tokens were staked - which they are not

[gloomy gazelle]

eligible doesn't mean it will be. It must be staked. MOST of the tokens are "staked" and eligible. Only the stuff on the market not in staked SLP or staked ILV.

[gloomy gazelle]

minus any silv claims

[potent sable]

Youre referring to retail that clicks the stake button yeah? Yeah im familiar just tryna sus out the totals and then work backwards. It's hard for me to explain but my formula has gone way above my head

[jovial root]

So my understanding is that you get Seed + Team + Treasury + Staked ILV + (ILV portion of staked SLP) = revdis receiving

[gloomy gazelle]

yeah thats the stuff

[potent sable]

For my personal use I need a creative way of adding staked tokens

[gloomy gazelle]

later yall. Gotta go

[jovial root]

2 trend lines? Showing potential vs actual?

Which should show a larger deviation between the 2 lines once unlocking begins

[potent sable]

Yeah its kind of like that. It's allg I think I've got it. Just gotta put pen to paper

[jovial root]

Haha, don't forget your coffee first!

[wind isle]

I have 1 SLP token staked with another 200+ days to go. I also have 1 SLP token not currently staked. Anyone know if I'll be able to stake that one on v2 without being forced to take rewards on the v1 SLP currently staked?

[delicate plaza]

Waiting for a ledger to arrive and V2 date announcement is worse than waiting for christmas as a kid

[cunning perch]

Patience will always be rewarded 🙂

[cunning perch]

If you upgrade your V1 first, yes, you should be able to stake without claiming your rewards

[wind isle]

Cool, I hope so. I've tried twice and both times the transaction has failed (when I attempt to stake my 2nd SLP). By the time I am able to try a 2nd time, a minuscule amount has accrued in my rewards, requiring me to claim them again. beyond frustrating.

[cunning perch]

Yep I sympathize. Don't worry hopefully V2 will fix this for you

[wind isle]

Thanks, appreciate it!

[tiny topaz]

Please can someone show me the way of how to stake ILLUVIUM :)

Very new, could really do with some help :)

[quasi coral]

if i stake a sushi token i get the value of an ilv or the combination ilv and eth as a reward

[tiny topaz]

So I need to stake sushi ?

[quasi coral]

you can stake sushi or ilv there are two pools

[final steppe]

Hey Steady! General outline of the staking process is below.. a video also included. But please don't hesitate to ask more questions if you think of any as you go through this process

[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

[tiny topaz]

Guys thank you :)

[final steppe]

Also do not trust any direct messages you receive. No moderator or member of the team will DM you first.
If someone DMs you claiming to help, it's likely a SCAM

[quasi coral]

anybody knows the answer for my question?

[tiny topaz]

Reminiscent I just dmd you haha

[ionic heron]

I understand u get back ilv

[vast fable]

I think it’s just ILV

[opal drum]

can someone explain the benefits of staking in V2 rather than now?

[gloomy gazelle]

Gas fees will be lower. And you won’t need to pay for the multiple transfer fees to move from v1 to v2

[gloomy gazelle]

The rewards are always ILV (or sILV)

!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]

!lp @night saffron

[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

[opal drum]

apologies if i am asking dumb questions, just starting to really get into this now. so everyone who staked in v1 will have to pay the transfer fees for v2?

[gloomy gazelle]

Yeah.

[opal drum]

thanks!

whats your take on investing in ILV or SLP?

[gloomy gazelle]

If you’ve got more than 2 ILV and have enough eth to pair and can afford to pay the extra gas fees then SLP is worth doing.

But it’s all about risk and long term plans. And ability to do more complex defi transactions

[silent cedar]

I think the main long term plan here is to have and stake and make more ILV yah?

[livid light]

yes as the rewards will be phased out and replaced with RevDis

[proud ivy]

If by "sushi token" you mean an LP token, then when the time comes to claim your rewards you will have the option of claiming sILV and have instant access to it, or claim ILV which is locked for a year and starts generating rewards itself.

Remember, the LP token you receive from Sushi by providing liquidity to ETH/ILV is subject to impermanent loss.

If you don't understand IL it's worth researching.

My personal opinion is that ETH and ILV are both appreciating assets so I don't care.

[toxic glade]

<@&821154860816793604> I can’t post pics on this channel or I would

[coral pike]

<@&821154860816793604> scam link posting <@&795142782133207063>

@toxic glade please don't post scam links if you want to report something please use #🚨❗〕report-scammers

[spark kiln]

If I have one SLP token (which required 10 ILV to 1 ETH) and a second SLP token (which required 4 iluvium to 1 ETH) and both are staked, can someone explain how does the rewards get calculated for the staked SLP?

[gloomy gazelle]

The rewards calculator determines current the usd value of your staked SLP and it determines the total usd value of all the staked SLP (taking into account any multipliers from locking such as 2x for 52 weeks). Then it determines what your percentage of the pool is. Then it distributes the percentage of the rewards that are getting paid out during that block to the SLP pool (as part of the 2 week fortnight). It’s a bit complex. But there are spreadsheets pinned in here that calculate it for you. The APY takes into account the current rate at which you are earning and the fact that the amount of ILV rewards paid out decreases by 3% every two weeks. So the apy displayed doesn’t show you what you are earning today. But shows you what you’d have earned in a year’s time if nothing else changes.

#🥩〕staking message here’s a good spreadsheet

[trim sparrow]

Where can I learn more about staking v2?

[atomic lagoon]

Pinned posts in this channel. Got a lot of useful info.

[trim sparrow]

Thank you I’m a n00b

[atomic lagoon]

no worry. we all slowly learn these things. took me a while too.

[sacred cosmos]

@exotic flicker fire away!

[exotic flicker]

Ok so I have 5k in eth and 5k in ILV what do lol

Well actually I am 4.7k in eth and 5.6k in ILV

I’d like to get the 300% if I can

[sacred cosmos]

Okay so first thing is to give you a brief summary on SLP. SLP or sushi liquidity pool requires equal value of ILV and ETH. (note youll need eth for the tx costs too). SLP has a chance of impermanent loss but this offset by the high APY were getting

[smoky nest]

You might receive some DM by scammers. They attack when we ask questions about how to manage your money. Dont answer to your dms

[exotic flicker]

So step one go to sushi swap?

[sacred cosmos]

So if youve decided on SLP core pool then all you need to do is put both your ETH and ILV in that MM (best if its through your cold wallet of course). Go to Sushi swap site then click liquidity. Youll see ETH with "+" add token - make it ILV

[exotic flicker]

Yep I got them on my trezor now

[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

[sacred cosmos]

Then put the amount of ILV you want and the amout of ETH will be automatically computed. When youve decided the amount you swap it. Youll get several txs. first is to allow your wallet to interact with sushiswap then the swap itself. Also you might want to add the token address of SLP in your wallet so you can check if it went through

[exotic flicker]

Would it be best for me to change some ILV over to eth? To make them equal

[ruby drift]

You'll need more eth than ilv to pay for gas fees

[sacred cosmos]

Do the step I just mentioned. You can keep changing the amount of ILV to figure out the amount of ETH youll need.

Once swapped your ETH + ILV to SLP. You can go to the staking site of Illuvium then go to core pools specifically SLP

Youll have several txs there too. 1 is for authorizing your wallet to interact with the site then the staking tx itself. Gas is a bit low so expect anywhere from 500-700 usd in gas (rough estimate this includes fees in swapping and staking)

[ruby drift]

And with that $ amount, you'll really want to wait for low gas fees as well as wait for v2... otherwise you'll have to pay to upgrade to v2 shortly after staking, plus higher fees and eventually, pay to migrate once it's unlocked.

[exotic flicker]

Woops I just added liquidity lol

[sacred cosmos]

This. V2 is on staking not swapping so what you did is okay @exotic flicker

[exotic flicker]

It’s ok if I have to pay later I plan to Invest more

I provided all the eth except for 700 dollars worth

[exotic flicker]

The pending to provide liquidity is taking forever

Ok now I have this

[sacred cosmos]

Should be a few mins but if its longer then you have to push the transaction out with a similar nonce. This happens to me when the tx max limit exceeds the amount of money I have in my wallet. Its not advisable unless you know what youre doing but you can change the limits.

[sacred cosmos]

So swap went through? You go to staking site of Illuvium. You stake in Illuvium.io not in sushiswap

[sweet ledge]

Do you think we can have functionality where the stake is transferred to another wallet?

[exotic flicker]

Oki working on approving it now

[sacred cosmos]

In V2. Check out the IIP on it.

[exotic flicker]

It says I have 1.772 slp in my mm

[sacred cosmos]

Dont forget to add the SLP token address in your wallet to double check its there. Its pinned in #💰〕token

[exotic flicker]

I turned on the auto find token setting on meta mask

[sacred cosmos]

Oh there you have it already. Yeah so thats how much youll stake in the SLP core pool.

[sweet ledge]

I will check but are you saying this is included?

[sweet ledge]

Welcome to the illuvium staking family fren

[exotic flicker]

Will there be some type of reward for people who stake in v1? And also thanks @sweet ledge ❤️

[sacred cosmos]

Yes. Im not sure the parameters on how its done though but once migrated or upgraded you can do that. Wait let me try reading it again to see in what conditions.

[sacred cosmos]

No rewards except you get to earn yield right away hahaha.

[gloomy gazelle]

That much SLP staked at 52 week lock should make plenty of ILV to be worth the gas fees before v2.

[sweet ledge]

https://tenor.com/view/pfsf1968-gif-20647883

[gloomy gazelle]

https://tenor.com/view/pelican-gif-9606381

[sweet ledge]

https://tenor.com/view/dies-cat-dead-died-gif-13827091

[exotic flicker]

Thanks I just locked her up

[gloomy gazelle]

https://tenor.com/view/lock-it-up-gif-10713574

[exotic flicker]

It was actually only 100 usd for me to stake o:

[sacred cosmos]

Welcome to the support group! You are not part of the many who would go to the dashboard everyday multiple times a day to see how many yield you acquired lol

[sweet ledge]

Gas has been wierd these past 3 days

[exotic flicker]

Not financial advice of course but I have 1.4 ILV leftover should I hold this ? Or stake it in core pool lol

[sweet ledge]

Ah yes gotta get my daily dopamine hit

[sacred cosmos]

Well you said youre going to be staking multiple times so why not build that ILV again to make SLP staking worth it. (im actually holding around 4 ilv and slowly buying more eth for staking)

[exotic flicker]

True true thanks

[exotic flicker]

How do I see the ones I have staking sorry if that’s a dumb question

[sacred cosmos]

Go to the dashboard in illuvium. It should be there

[exotic flicker]

Oh nvm I found it on dashboard I hate this delay

Lez gooo

[thin brook]

When does staking 2.0 comes out? I wanna stake 😄

[sacred cosmos]

another thing you might want to keep checking is to put your wallet on Zapper.fi the site allows you to see your funds in your wallet and those associated to staking an claimables

[sacred cosmos]

You and me both! Im waiting on it to save on gas fees lol I was expecting it before christmas tbh.

[exotic flicker]

The gas actually wasn’t that bad right now tbh

This is coming from someone who has minted a pfp nft for 800 in gas lol

[exotic flicker]

Oooo this is super cool

[sacred cosmos]

It was around 30s recently too

[light gorge]

But you need to pay gas for upgrade to v2

[exotic flicker]

That’s fine

[light gorge]

For someone who want to stake right now its not fine. Better wait for v2 i think

[gloomy gazelle]

It depends on how much value is being staked.

If you make $300 a week… worth it for sure.

[exotic flicker]

Gas to upgrade shouldn’t be that bad even if it’s 500 or so it’s likely I can make that in rewards by that time I think

[vast hedge]

wen V2?

[gloomy gazelle]

A month. Maybe less. Not sure

[vast hedge]

Yes, Zapper is great for this

If I do decide to stake now, how many transactions will there be?

[gloomy gazelle]

Probably 3 extra

[vast hedge]

3 in total?
Or extra?

[gloomy gazelle]

Stake now and you do 1 transaction. Then to get things over to v2 you’d need to do 2 or 3 more transactions (including the final migration after unlock)

Or just wait until v2 and do 1 transaction that is cheaper. And all the other subsequent claim transactions will also be cheaper.

[vast hedge]

Thanks. Could you point me to reading material regarding this.

[gloomy gazelle]

In the pins.

[errant crown]

1000% apy for eth tho...

[brisk surge]

Theres no ETH staking. If you got a DM about ETH staking its a scam

[rapid reef]

stake!!

[vast hedge]

I’m going to wait for V2

[potent sable]

what percentage does slp pool decrease every fortnight naturally?

[atomic lagoon]

3% every 2 weeks.

[last urchin]

Didn't find dates of v2 in pinned

[atomic lagoon]

there is no confirmed date for v2 yet.

[last urchin]

Oh ok

[potent sable]

really thats practically nothing? Where can I find this info

[atomic lagoon]

@potent sable

[potent sable]

yet again Pelican always does a killer explanation. Btw I have seen you comment on my videos often and I really appreciate it bud ❤️

[atomic lagoon]

big fan 🙂

[potent sable]

There's a super interesting one I want to make today but it's getting late and my calculator isn't finished 😦 so sad

[atomic lagoon]

take your time 🙂 I am just DCAing in as much ILV as I can during the dip. hopefully we will see a bounce back in the market by Christmas or NY.

[potent sable]

I reckon bitcoin and eth will shake out one more time. I am waiting for eth/ilv to hit the 0.26 or whatever. Then its moonboy and moongirls time

[sacred cosmos]

Has anyone made a simple tool to figure out what block we are in the graph pelican attached?

[sacred cosmos]

This is my sentiment as well. One more dip before we get back on the bull train.

[potent sable]

I think the staking calculator by lelahel is pretty up to date

[potent sable]

I don't think the bull will be instant either sadly. I think 1 more dip then we bottom, then sideways until mid Jan, then rocket

[sacred cosmos]

Probably play around 4k eth to 4.4k yeah. Theres always that pattern.

[potent sable]

yeah its all about that DCA

[sacred cosmos]

If only i had money still lol 😆

[bright salmon]

Does staking ILV (100% REVDIV from ILV) vs SLP (give you only REVDIV on the portion ILV 50% your staking i'm right?) but it's compensated with a better the APY ?

[jovial root]

Correct

[potent sable]

with SLP staking rewards. Im correct in saying that its based off of the total value. Eg its 50% ILV and 50% Eth but you receive 400% based on the combined USD value of the 2 for yield rewards not revdis

[keen burrow]

are there any new on v2? 🙂

[cunning perch]

Not yet

[keen burrow]

alright thx! 🙂

[river furnace]

hi guys how's going?

[vague knoll]

I don't think I understand the V2 . Is it better to keep my ilv staked or withdraw them and stake them after v2 comes out?

[cunning perch]

There are lots of pinned messages that can help you and unless you are staked flexibly and want to change weight, you don't need to withdraw. You will just need to upgrade.

[vague knoll]

Thank you! 🙂

[sharp estuary]

noob question - how is there a rev dis if the ilv game hasn't launched yet?

[delicate cloak]

There isn't.

[sharp estuary]

what is the apy based on then?

[worthy peak]

what's paid now is a farming reward from a special pool, not a revdis

check a tokenomiks article

[cunning perch]

Wen RevDis? 😜

[worthy peak]

guys discuss this rn in #814313779696238642 use those URLs

[sharp estuary]

got it sorry. lots of channels to keep up with

[worthy peak]

yeah

[hollow trail]

Small question

When will ILV staking end?

[winter kernel]

Do the rewards that are locked up receive rediv as well as staked tokens?

[atomic lagoon]

Yield farming ends in Jun/jul 2024

[atomic lagoon]

Yes. Vesting rewards receive revDis too!

[plush vapor]

Hello, guys. Any news on stake v2?

[brisk surge]

Not yet but there is very useful information in the pinned messages etc #🥩〕staking message

As well as a nice write up from Polemos talking about what major differences it will have

[plush vapor]

Thanks, I had already read that. I'm just too excited lol

[brisk surge]

I'm with you on that!

[stray eagle]

After 3 months in slp staking I can give you my numbers.

First month 5,5 ILV
Second month 5 ILV
Third month 4 ILV

So apy is decreasing faster than a 3% obviously

Because more people are staking

[plush vapor]

It's less 3% every week so it seems there's nothing wrong there

[stray eagle]

Actually third month is less than 4... 3,7 ilv

Its a 25% less rewards than second month

Forth month I expect arround 2,9 ILV

Bit less perhaps

[ionic heron]

How much slp was staked?

[stray eagle]

2,58 slp

[ionic heron]

Wow that alot of rewards

[stray eagle]

Yes, high apy

My guess is at the end of the first year I could have arround 30-33 ilv tokens

As rewards, not taking in account the initial deposit, from where I will lose quite ilv to eth due to impermanent loss because of ilv increase in price

[cyan rampart]

There's no compounding built in. When you claim rewards as ILV, they are automatically staked in the ILV Core Pool for 12 months, during which time they collect their own rewards. The APY doesn't reflect that, because claim frequency is something you control as an individual.

Unless there was another fucking question you needed answered. I only saw that one.

[brisk surge]

Hi, my staking time has finished (i had it set in 4 months) but i haven't withdrawn it yet, is it still generating reward?

[burnt wasp]

dont think so

[cyan rampart]

Yes, it is. It'll continue to generate rewards at the same rate you originally staked it at.

[brisk surge]

Great! Thanks

[wicked sail]

Hey guys is there any new information on staking V2 release date or not yet?

[cunning perch]

Not yet

[fervent star]

what is about to change with staking v 2 ?

[final steppe]

Hey Nagisa! Ultimately, things are improving for stakers with reduced gas fees from claiming and a couple of added features too. You can read up on the draft of the proposal Aaron wrote for the details… here: #809220563397902346 message 🙂

[fervent star]

Thanks a lot 😄

[wicked sail]

Question if you say lock your tokens for 3 months for example in the Sushi LP for a weight of 1.31, after the 3 months and those tokens are no longer locked are they receiving flexible rewards at a 1.0 weight or remain at a 1.31 weight?

[final steppe]

Hey Magebro! They will remain vested with the token weight you initially set when you first locked the tokens 🙂 If you withdraw the tokens after they have unlocked, then you must lock them up for the appropriate time frame again to receive the additional token weight above 1.0

[neat spear]

Hey guys, can someone help me with a question?
I have 0.556 SLP staked currently, locked for 1 year.
I would like to stake an additional 0.556 SLP and lock it for one year.
If I understand correctly, this means I will have to first 1) pay gas to claim rewards already earned. And 2) pay gas to stake the new 0.556 SLP.

My 3 questions are

1. am I right so far?
2. will the second 0.556 slp be added to the first 0.556 slp or will they be considered as two seperate 0.556 holdings (stakes?) ?
3. based on the amounts/times I'm discussing, should I wait for V2 staking in your opinion?

Thanks in advance for any advice, I'm at work and may not see any responses right away but I'll check in later and I super appreciate any help I can get. You guys have all been so great. Thanks ILV fam 🙌

[cyan rampart]

1. Yes.
2. They will be separate stakes, they will not "combine" even if you try to artificially match up the lock durations.
3. I'd wait for staking V2 to do anything at this point, to avoid higher gas fees and needing to upgrade or wanting to migrate in the future.
4. NFA 🙂

[clear cape]

love it

[safe thunder]

Hey all! I had purchased ILV on crypto.com, is there a way to stake those tokens or do i need to convert to ETH to transfer to MetaMask? Thanks for the help!

[cunning perch]

Hey. You can send ILV directly to MM and stake it in the website (need ETH to pay for gas) and watch out for DMs. They are all scams

[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

[safe thunder]

Yep, already got a DM lol

[cunning perch]

Make sure you send their ID to #🚨❗〕report-scammers so they can get banned

[safe thunder]

Done 😉

[fallen kettle]

Hey, any confirmed date on v2 staking?

[brisk surge]

No sir nothing yet just keep your guys out for the #📣〕announcements

[spiral wigeon]

How do I start staking?

[brisk surge]

!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

[brisk surge]

I would recommend watching the video at the end as it goes over the entire staking process making it easier to understand if you are new to this.

[spiral wigeon]

What does staking do exactly? @brisk surge

[brisk surge]

It allows you to get rewards from your ILV or ILV/ETH that you decide to stake and have the option to lock those tokens for added weight which gives you a higher APY.

[spiral wigeon]

So you lock the coins then they make you money basically?

[brisk surge]

You can also just choose flexible if you don't want to lock your tokens

[spiral wigeon]

How long would I need to lock them for, and would that make me more $ if I did

[brisk surge]

When you lock your tokens it gives you a higher APY so say with the ILV/ETH pool currently without locking it's 194.63% whereas if you lock your tokens up for 1 year (2.00 weight) you would get 389.25%

[spiral wigeon]

So the amount I put in would go up by 389.25%

[edgy linden]

@solemn blaze Quick followup - even though I am not locked anymore, I am getting rewards at 2-week locked rate? Did I understand this right?

[stray eagle]

Yes

[gloomy gazelle]

The usd value of your rewards would be that much if nothing changed in a year.

[gloomy gazelle]

The rewards calculator determines current the usd value of your staked SLP and it determines the total usd value of all the staked SLP (taking into account any multipliers from locking such as 2x for 52 weeks). Then it determines what your percentage of the pool is. Then it distributes to you that percentage of the ILV rewards that are getting paid out during that block to the SLP pool (as part of the 2 week fortnight). The UI then calculates the USD value of the ILV rewards and is then able to display the APY. It’s a bit complex. But there are spreadsheets pinned in here that calculate it all for you. The APY also takes into account the current rate at which you are earning and the fact that the amount of ILV rewards paid out decreases by 3% every two weeks. So the apy displayed doesn’t show you what you are earning today. But shows you what you’d have earned in a year’s time if nothing else changes. But in reality the value of the ILV tokens and the value of the SLP tokens and the total value in the pool (and therefore you percentage of the pool) WILL change almost constantly. Therefore the APY is variable.

Dang that’s a book. 2nd edition.

[jaunty mason]

Hi guys, i have some questions about withdrawing after my stake has completed. i did a 6 month stake and it has been ready to claim for a few weeks. for some reason i am still getting tokens minted even though i havent claimed? also when i claim do i just click withdraw and the ilv will just go back to my wallet?

[cyan rampart]

Your REWARDS accumulate over time. You choose when you claim them. When your stake finishes its' lock period (i.e. at the end of 6 months), you'll be able to withdraw your initial stake. Any rewards claimed as ILV will take 12 months to vest, which starts at the time you claim them. So if you were to claim rewards as ILV today, those rewards would unlock in 12 months.

[cyan rampart]

Yes, that's right!

[jaunty mason]

Great thanks. Also, is there a way to sell silv? i claimed part of mt stake in silv token but want to withdraw it/

[gloomy gazelle]

If you WANT to withdraw your initial deposit you can. But you do that from the VESTING tab. Don’t claim before starting to withdraw. It will then tell you that you need to claim BUT if you just follow the steps displayed.

[gloomy gazelle]

The sILV is in your wallet if you claimed sILV. It’s an erc20 token. It’s swapping on uniswap at the moment. In a third party liquidity pool.

!contract

[woven ibex]

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

[jaunty mason]

not offering much for silv exchange, will this change?

[gloomy gazelle]

No. Even that pool is not officially supported.

The project intends sILV to be like a gift card.

!silv

[woven ibex]

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

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

[ionic heron]

can i ask in what will happen if my locked staked matures in v2? Will it become flexible with the weight that I had initially locked in for my stake?

[fair holly]

Hi! Will V2 lower the gas fee needed to stake?

[gloomy gazelle]

Yes. But I assume it will lower the fees to claim even more.

[gloomy gazelle]

It becomes unlocked. It means you could withdraw it. Or let it continue to earn at the previous weight.

[ionic heron]

thanks but I thought v2 only allows for locked staking.

[jovial root]

Sooooo just been watching Star Atlas and their big MINIGAME launch... which turns out it is just Staking of Assets (ships), but you need to buy consumables (Fuel, Food, Ammo, Tools) for them to autoburn...

So it is definitely not a game... and really just a complex Staking process with pretty pictures.

Anyways ROI there is 200-250 days depending on how many Assets you stake at once to offset the Transaction fee (GAS)

From what I can see, the main benefit of it is to boost the resale market of Ships, and to try and get more people buying the more expensive ships from their weekly/daily new ship sales.

.

So Illuvium SLP staking definitely kicks ass over those returns!! Even if you were claiming sILV to sell at a discount!!

[gloomy gazelle]

Correct. Meaning that there can only be deposits made that are locked for a certain period of time. But after that time is completed then the deposit is then unlocked and could be withdrawn or it can be left to continue earning. It’s not flexible. It’s just unlocked.

[ionic heron]

Thanks. Will the unlocked deposit still entitled to rev dis ?

[final steppe]

Yup! As long as you leave the deposit staked 🙂

But if your deposit unlocks AND you withdraw it to your wallet, you will not receive RevDis until you stake the tokens on the Illuvium site again.

[violet crag]

here MM = Meta Mask？

[violet crag]

all these should be handled through metamask, right?

[delicate cloak]

You replied to a bot. But yes MM is metamask it's what most recommend for a browser wallet.

[cunning perch]

Yes

[violet crag]

would you guys recommend to wait for v2 staking?

given end of dec already

[gloomy gazelle]

Unless you have several thousand dollars worth to stake in the SLP pool

[violet crag]

any thoughts on sILV amount we should prepare for the coming up land sale - say T4?

sorry might be inappropriate question in this channel ☺️

[gloomy gazelle]

yeah head to #🎮〕illuvium-zero

[violet crag]

got you 👌

[long flume]

Morning sir

[fossil agate]

Hi when you stake sushiswap LP tokens for a period of time (lets say 12 weeks to enjoy weight multiplier), after the 12 week maturity, does the staked LP tokens (if not withdrawn) continue to enjoy the previous APY, or is it based on current market conditions?

[atomic lagoon]

yes. you will continue to enjoy the same weight as 12 weeks you locked originally, if not withdraw. But the APY depends how how many more/less people stake and the regular 3% drop every 2 weeks.

[fossil agate]

great thank you very much for the detailed response!

[jaunty cairn]

@gloomy gazelle So I have been staked in the SLP pool for about 6 months I believe. When my unlock occurs I take the SLP back to the swap to get my original investment back in wETH and ILV, right? Or am I not thinking about that correct? I am just curious.. I'll prolly just end up restaking it when it becomes unlocked though.

[cunning perch]

You withdraw and do this if you want your investment back to whatever it was you staked in LP. You will probably get different amounts due to IL

[jaunty cairn]

Yeah, I understood IL but wasn't sure on how removing worked. It was my first time adding liquidity to a pool back then and I have yet to remove any from any other pools 🤣 . I'll prolly just end up re staking in v2 anyways when it's unlocked

[cunning perch]

If it is unlocked and still staked, you can migrate and done you will be fully on V2 with the same weight

[jaunty cairn]

Still have a while before unlock xD

Just checked. 222 days specifically

[cunning perch]

Ok so enjoy the rewards. Don't forget to upgrade when V2 is up

[jaunty mason]

I am trying to swap silv on uniswap. it says insufficient funds to confirm in my wallet. What funds do i need?

[jaunty cairn]

It's coming up before land sale, right? I haven't seen much info on it. Could you direct me to a pinned message or documents for more details please?

[cunning perch]

Eth to pay for gas

[cunning perch]

Yeah it should go live before land. You can there are lots of info there

[plush jolt]

Anyone any experience or thoughts on using zapper?

[tawdry rampart]

hey guys, i haven't been keeping up on the discord recently. I notice the staking v2 thread has been archived, is the ETA still sometime this year or has it been delayed?

[cyan rampart]

Threads automatically archive after a period of non-activity in them. V2's timeline hasn't changed AFAIK - We're still waiting on Quantstamp audits.

[silent cedar]

How far before land sale will the stake proportions be determined for land sale revdis?

Or is it like immediately before distribution occurs. Trying to sort out when to claim ILV rewards to max revdis.

[cunning perch]

whenever you stake you will get RevDis, but you have to take into account that RevDis will be paid out in a long time.

[silent cedar]

What do you mean long time? My understanding was that everytime there would be a distribution, it would be the total available up to that point in time.

So like after first land sale there would be a distribution of total land sale revenue

[cunning perch]

RevDis is paid several times a week, so it will take time to be distributed fully

[cunning perch]

Probably not, cuz Illuvatae auction will be after that too

[autumn cloak]

They don’t want to do that so they can avoid people staking for like a week to get the revdis, and then unstaking and running away with their earnings

[silent cedar]

So where can I read more about the revdis model?

[cunning perch]

this

[silent cedar]

I've never even considered anything other than 1yr lock 😆

[cunning perch]

many are flexibly staking and they will have to lock now. so they'd better commit or no RevDis lol

[silent cedar]

So how about the revdis model? Does it exist yet?

[cunning perch]

the model is as before: several times a week. The RevDis generated by land and Illuvatar Auction might take longer to be distributed to keep investors in.

[delicate cloak]

Kieran has just spoken about more details on interviews such as distributing land sale revenues over a period of let's say 2 years vs dumping it all at once so you're incentivized to stay staked.

[placid flame]

hello newbie here, if i were to claim ilv from LP, is it instantly withdrawable or must i restake it

[delicate cloak]

All ILV rewards must vest for 12 months after claiming.

[placid flame]

ok thank you very much

[gloomy cargo]

hi guys, newbie here. if i stake now...and lets say i do it without any lockup, when v2 comes out , do i need to "migrate" to v2 when it is out?

[atomic lagoon]

1. you need to upgrade when v2 comes
2. You need to lock for minimum 1 month when v2 comes

[gloomy cargo]

thanks. so if i lock it up for minimum 1 month now, i dont have to upgrade?

[atomic lagoon]

You will still need to upgrade but will not need to lock up for another month.

[gloomy cargo]

thanks, any estimated time when v2 will be up?

[atomic lagoon]

2-3 weeks 🙂

[frail sundial]

Yo anyone in here know if there’s a difference when adding liquidity between wETH and ETH

[hot lynx]

Zup

[cunning perch]

should be the same afaik. I've heard ppl have done that but not sure.

[frail sundial]

I googled and it said that sometimes for lp it has to wrap eth in order to standardize into erc20. Not sure but I went ahead and wrapped, cost me a few extra bucks but meh

Also this wasn’t for ilv but that’s why I tried to be generic and broad

[cunning perch]

as long as you were able to provide liquidity then it should be good. Yeah this is not ILV-based only. It takes every platform into account

[frail sundial]

Yeah I got it did and have my little bag

[deft echo]

Guys I have a question. I staked 2 ILV for a year this summer when the APY was 110% if locked, but since Ik the APY keeps changing, so I was wondering if I will actually get the two ILV from staking after 1 whole year of staking

[brisk surge]

you'll get your original 2 ILV, you wont get 2 ILV worth of rewards cos the APY has dropped to like 30% or something for the single staked pool

[deft echo]

That’s what I wanted to make sure

[heady parcel]

why cant i stake in slp? it show 0 ilv i have like 20 please help

[woven ibex]

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

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

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

[brisk surge]

If youre staking SLP you need to put liquidity into the sushi pool first. See above 👆

[delicate yacht]

So when v2 comes out staking is halted for 2 weeks?

[brisk surge]

When v2 launches there will be an #📣〕announcements

[delicate plaza]

Damn still 2-3 weeks away? I've been waiting for V2 but might stake unlocked now then if it's going to be that long

[brisk surge]

Does the week decrease at all???

It has been 2-3 weeks right from the middle of November, won’t be surprised if by January they still keep saying 2-3 weeks… nice game concepts though but the wait is killing

[jovial root]

Just like how tomorrow never comes

[brisk surge]

Tiring.. I’m all staked on illuvium and i need something to keep me motivated on. I keep watching the device daily for notifications in announcements but they don’t come lol all i see daily is 2-3 weeks

I’ll so appreciate if they are like it’s 2 weeks 4 days out , then we get to till it’s a day left. Rather than the latter

[scenic crescent]

anyone wants to claim rewards while the gas is low? 🤣

[sharp cape]

Lovely

[verbal plank]

Anyone know how long LP staking rewards will go for? 2023? 2024?

[brisk surge]

Staking rewards last 3 years. It started in July this year. Emission starts high and decreases by 3% every 2 weeks.

[eager fractal]

hey guys is there an estimated timeline for when v2 will be out/ the 2 weeks freeze happens?

[final steppe]

No specific dates yet. As far as I know, they're still aiming to get it out before the new year... but this will depend on the audit of the V2 contract. Aaron mentioned the audit of the V1 contract took around 3 weeks... V2 audit has been in process for a little over 2 weeks, I believe!

So… hopefully soon 👍

[eager fractal]

awesome, appreciate it and will keep an eye out on announcements!

[finite eagle]

I should wait till V2 to stake, correct? No point in staking right now?

Or, do I get the bonus/gift regardless of time staked in V1 or is the bonus/gift less than the gas required to move from V1 to V2?

[delicate plaza]

depends on how much you have to stake - if its quite a lot than yes

[elder stump]

Hey guys, can anyone point me in the direction of info on how to unstake my ilv? Thanks

[brisk surge]

You can withdraw from the staking contract on the vesting tab of the staking page.

[elder stump]

ahhh ty!! 😆🤘

[thick kraken]

do I need to claim ILV to get revdis?

[atomic lagoon]

Yes.

[cunning perch]

Your staked ILV already receives it. For the rewards to receive it too, you will need to claim them as well

[rancid delta]

When the staking rewards are done(in 2024), will you still receive revdis if you decide to not withdraw?

[cunning perch]

yes. RevDis will be ongoing. It has notthing to do wwith YF.

[rancid delta]

Perfect, thank you

[thick kraken]

Thanks @atomic lagoon @cunning perch

[sturdy egret]

Any admin able to respond to this: Let's say I staked some ILV at flexible. Now i wish to stake additional ILV at locked. Is that possible and does it remain Flexible/Locked for these two different transactions or will it add together?

[cunning perch]

Right now it’s possible, but in 2 weeks to a month (after the implementation of staking V2) flexible staking will no longer receive yield and you will need to lock for minimum 1 month to get Yield and RevDis (on V1 all transactions are different and whatever you do you pay gas)

[sturdy egret]

So will the flexible staking be automatically converted? or we need to do anything like restake?

[exotic quarry]

Where can I stake in V2 pool?

[cunning perch]

Nothing will be automatic. You will have to withdraw (claim and pay 2 gas) and then re-stake (lock and pay gas)

[sturdy egret]

and do we have to claim the rewards before V2? or we can still leave it inside?

[cunning perch]

It is not out yet. Gotta have to wait

[exotic quarry]

aah alright

[cunning perch]

No. Upgrading to V2 doesn’t require claiming rewards you can read about it in pinned messages (and watch out for DMs. They are all scams)

[sturdy egret]

Excellent Arash, last question, how accurate is the 2 weeks to a month for V2? if you have any idea

[cunning perch]

No problem 😉 well it might not be accurate. It will most probably happen soon. This week was the second week of V2 audit. So, we will have a date soon for sure but nothing is fixed yet

[sturdy egret]

Noted, since that is the case. Gotta wait for V2 and bleed the gas fee once and for all. Much appreciated, Arash!

[cunning perch]

Anytime. Feel free to ask whatever questions are on your mind. And def check the pinned messages for more info

[exotic quarry]

So Im getting a new Trezor wallet in 1 week and my funds are on MetaMask. I was thinking to just import the MetaMask wallet into Trezor, but if my MetaMask wallet has been compromised then Im fucked cause its still using the exact same seed phrase from MetaMask (from what I understood). So now I was thinking to transfer my funds, but it costs a lot of gas since I have to pay 10% tax on the transfer of one BSC token and ETH gas fees on Illuvium. But what if I wait to stake on V2 with my MetaMask and then to just transfer the staked coins to my new Trezor wallet (new adress) which is possible in V2 right? Would this way be cheaper for me?

[cunning perch]

After upgrading, TX would be cheaper, but as long as they are staked and locked you can't change wallets. They need to be unlocked. You can connect your Trezor to MM and receive a new wallet and then when they get unlocked, move them there.

[exotic quarry]

Aah I see.. But then I still have to pay gas fees since they're seperate wallets right?

[cunning perch]

Any TX or signing a new smart contract needs gas. Look at it as ink required to sign each document

[exotic quarry]

ooh okay yeah, maybe I'll just use the metamask to stake and withdraw ILV and the trezor for any further funds that im depositing

hackers cant steal it anyway when its staked xD

[cunning perch]

Having a cold wallet is def a safer way

[exotic quarry]

yeah that is true

[jaunty cairn]

Was sitting on 1.18 ILV unclaimed and decided to claim so it can compound revdis for upcoming land sale even though I can guess most of it will be bought with sILV. LETS GOOOOOOO

also edit that idc about the gas fees at this point for moving to v2. Too bullish on this project to let 100 bucks in gas fees annoy me

[sacred cosmos]

@median canyon will V2 staking be by this month or will it cross over to next year?

[placid flame]

if i stake for 1 year in LP, at the end of the term can i claim the reward + initial amount staked together at once?

[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.

[cunning perch]

I'd say maybe EoY or early Jan. A wild guess though

[coral pike]

@cunning perch how's it going ? just want clarify I am waiting for the period where the all the rewards stop for 2 weeks to upgrade/claim not for the "start" of V2 right ?

[cunning perch]

Hey mate. That two-week halt is actually the start of V2. You won't have to claim rewards if you don't want to. It will be totally your choice, but you will have to upgrade whichever pool you have deposited in.

[coral pike]

Im only staked in SLP I have been waiting to claim . I'm just not sure if its more optimal to claim during the halt or when the halt is over or is there even a difference ? I remember Aaron said it
best not to claim until V2 now

[cunning perch]

since you are only staked in LP, then you will have to upgrade only once. You won't have to claim before the upgrade. you can if your rewards are significant and if they justify paying for 2 TX. But after the upgrade one of the scenarios will happen:

1. you will either have the option to claim either pool without being forced to claim the other,

or

2. both pools will be claimed through 1 TX and not 2.

either way it will be gas efficient.

[coral pike]

Ok so as soon as halt happens its possible to upgrade an clean out my rewards at the same time for 1x gas ?

[cunning perch]

upgrade is one TX and claiming rewards will be depend on the two scenarios I said about. So it is minimum 1 TX (just upgrade) and Max 2-3 TX (based on the 2 options above regarding claiming the rewards after the upgrade)

[coral pike]

sorry Arash I'm only in the slp pool that normally right now cost 2x right? soo when halt happens I will pay 1 tx for upgrade and 1 tx for claim right?

[cunning perch]

1 tx to upgrade the pool and 1 or 2 TX to claim the rewards.

regarding the rewards either will happen:

1 TX if both pools can be claimable in one go.

2TX if you have to claim both pools, but unlike V1 in which you will be forced to claim both pools, in V2 there won't be a force and you can decide which pool to claim and which not to.

[coral pike]

sorry i am so confused but isn't the whole point of V2 to make slp go sown to 1 tx?

[cunning perch]

if it is one it's good. If it is one for each pool but you have a choice, it is also good. This will be made clear in Aaron's interview by @ripe steppe

[onyx topaz]

At what point is it more beneficial to claim in silv and compound as an SLP instead of just compounding into the single stake pool 😄

[cunning perch]

you cannot compound SLP. The rewards are always in form of ILV or sILV. So if you claim ILV, it will be compounded into the ILV pool.

[coral pike]

ok I'm not sure i understand still but I guess I will just wait for the halt and then see how i all works out thanks Arash your still awesome it my brain that not processing info

[cunning perch]

Haha it's ok. YOu will see fior sure. The most important thing is to upgrade in the two weeks. and enjoy the bonus after that.

[onyx topaz]

Haha but I can claim silv, swap for 50% eth, make Slp then deposit in Slp pool where rewards brrrrrrrr

[coral pike]

I would give you a polemos to but i don't have access to it here lol

[cunning perch]

yeah waaaaay cheaper, but sure. Make sure you have enough sILV to be worth the claim lol

[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.

[cunning perch]

That's because they are locked. read above. you can see them in the "vesting"section of the website. (and watch out for DMs. They are all scams)

When you claim your rewards in form of ILV, they will be locked in the vesting section for one year while compounding to your stake with a weight of 2X generating more rewards. Make sure you read about Staking V2 (pinned messages) and be prepared to upgrade your pools if you want more rewards and RevDis.

when V2 is out you will have to upgrade your pool (once) to continue receiving rewards. If your new stakes are not big ones, you could wait a bit to stake directly on V2 so you wouldn't have to upgrade or force claim your rewards. If you don't mind the gas. you can keep on staking, but still will be required to upgrade your pool(s) when V2 is implemented.

Cool, you can go ahead and stake then and when V2 is out just upgrade your pool. (again watch out for scam DMs. Never answer them)

Upgrading is a one-time (if you are staked in one pool) or a two-time (if you have staked into both pools) TX. So if you have deposited ONLY in SLP (not talking about claimed rewards) then you will have to upgrade only once.

you are upgrading the pool. So it shouldn't be that big of a deal

only deposited pools count. So if you have "deposited"in both pools, then you max will have to upgrade 2 times. If you have "deposited"in one pool, then you max will upgrade 1 time

no. worries. Happy to help 🙂

[heady parcel]

is there a way to see or check the sushi lp impermanent loss i may have incurred?

[safe thunder]

Long time BTC guy, new to ETH and ECR20 tokens.... can i just send my ILV i bought on crypto.com to my metamask ETH address and it will show?

[cyan rampart]

Yup! You might need to add the token to Metamask to get it to display, but it will be there regardless.

You can find the token address pinned in #💰〕token

[median canyon]

The audit is taking a while. We're in conversations with them but we need this to be solid so we need to let it take whatever time they need. This means that it will likely go into 2022 considering we are at the 18th now. We will try to get it done asap.

[sacred cosmos]

Thanks for the update on this! Getting it right is always better than getting it out quickly.

[median canyon]

With the game, we can make changes. With contracts, we have to get it right.

[clear cape]

Pretty much, the smart contracts need to be flawless

[cunning perch]

(apy.vision) can help you afaik

[cunning perch]

you have to add the token addres (below) to your MM and then send it out from Crypto.com to see them in your wallet when they get there and DEF make sure you are usingf the ETH mainnet on both network and MM. (also watch out for DMs, they are all scams)

[woven ibex]

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

[opal tulip]

Security is of paramount....any compromise will cause the downfall of any project

[clear cape]

Yeah exactly, it sucks because we obviously need things done, but making sure things are 100% ready to go is important above all else.

I think anyone with a decent chunk inside ILV will agree with this sentiment to avoid any black swan event of where contracts have bugs/exploits

[opal tulip]

@clear cape 100% spot on!

[heady parcel]

does anyone know how many ilv holders there are? it must be small right?

[delicate cloak]

I'm not sure if etherscan accounts for stakeholders, probably not.

[fickle wadi]

hey guys, wanna ask something. Is it better to wait for staking v2 or doesnt matter? I wonder what if we have staking in 2 versions is collecting will cost more gas ?

[hot lynx]

V2 solves the gas issue so it's a personal call. I got into V1 early so I am in V1

Always good to read the pins 👍🏻

[stray eagle]

Sorry to ask you directly. Do you think this delays affect the main release schedule or only the land and illuvatars sale?
Kind Regards

Or perhaps it even doesn't affect any schedule because landsale would have time enough after V2 is done

[cunning perch]

A vid by @ripe steppe will be published soon. He has interviewed Aaron and he will explain some of the stuff that had been asked.

[stray eagle]

Ah nice to know

[balmy relic]

@ripe steppe is the man. Just felt the need to say it.

[ripe steppe]

https://media.discordapp.net/attachments/882576824650043462/916651573231370250/POLEMOOOOOS_GIF.gif

[cunning perch]

lol I see Hector everywhere I go now. 🤣 good thing GIFs are not subject to copyright haha

[delicate cloak]

https://c.tenor.com/Ejznmjzkz6IAAAAM/when-wen.gif

[chilly lodge]

is staking v2 out guys?

[cunning perch]

Not yet.

[atomic lagoon]

Looking forward to this! ❤️

[dawn lily]

I’m considering grabbing some SILV off Uniswap. Is that the legit same asset you get from claiming through staking? It seems like a better deal to swap there as it is price at a much lower rate than if you claimed through staking.

[delicate cloak]

<@&795142782133207063>

[timid copper]

Goo d idea and dgood luck

[finite eagle]

I didn't think sILV was listed on any marketplace. Like, you couldn't buy it only earn it through staking or in-game. Otherwise, the revdis from people using Eth wouldn't be lower. Not 100% sure though read that a long time ago. Check general chat on this.

Should I wait for V2 or just get into V1 now? I got 10 ILV's to stake, just not sure if waiting makes more sense. Any ideas?

[mental saddle]

Any ideia when V2 is out? I have about half my SLP that I have staken for some weeks just unlocked....now they are flexible at 1.15 weight. Should I wait, restake for 1 month? Still a bit worried about needing it....

[cunning perch]

#🥩〕staking message

[cunning perch]

The link above ⬆️

[pure elbow]

can someone put the official link for ILV staking

[coral pike]

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

[pure elbow]

ty

[coral pike]

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

[boreal dragon]

Just staked couple with a help of my dear friend. let's go 🙂

[raven slate]

Anyone know how to add ilv to metamask?

[cunning perch]

!contract

[woven ibex]

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

[cunning perch]

Add them manually. And don't answer DMs. They are scams

[craggy field]

5% of all in-game transactions will go to the vault. This includes in-game trading of NFTs. Getting an NFT already requires you to buy fuel, so yes.

[finite jacinth]

Hello everyone , could someone tell me what’s the minimum investment in order to be able to stake ILV via Lp

[craggy field]

You could stake like 10$ but your gas fees would be around 200-300$ when staking. When taking those into consideration, make a well thought-out plan. If you think you will get 400% revenue from staking then staking 100$ with 300$ fee could break even. But bigger numbers would be more worthwhile overall.

Well open-sea is not in-game. So i dont think it will work that way.

[finite jacinth]

Thanks alot for the info!

[craggy field]

There is a calculator pinned in the messages to calculate exactly how much the gas fees will be! take a look at Vetemor's post of sept 13th :)

[delicate plaza]

What about the rest of the 95% of transactions that are resources from the DAO? Such as buying fuel and stuff? Where does that go if only 5% goes to the vault?

[opal tulip]

95% to all stakers duh

[glass carbon]

he's talking about player to player transactions I believe

so it would go to whoever you buy the thing from

if you wanna know about the in-game purchases like travel fees, then all except a small % goes to vault

[dawn lily]

Why is it that when you search the SILV token on Uniswap it shows you can swap for it?

[coral pike]

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

[brisk surge]

Will this potentially impact the date for the land sale? Or will the land sale go ahead regardless of the state of V2 staking?

[coral pike]

speaking for myself only of course but if it delays into 2022 you will have my support . Your right this needs to be flawless . Let it take as long as it takes

[cyan rampart]

I'm under the impression that V2 needs to happen before the Land Sale, but I could be wrong.

[scenic crescent]

If I claim the rewards and set the Gas pretty low, so the transaction is complete for example in 3 days, cause then gas is low, which rewards do I claim? The rewards at the request or the rewards in my dashboard right before the transaction is completed

[gloomy gazelle]

The rewards at the point the transaction is processed.

[scenic crescent]

perfect as i hoped

[gloomy gazelle]

I have had an SLP claim/vest run out of gas before when I’ve set the gwei low. Something about the increased rewards made it a more complex transaction than it had been when estimated. So if I do this now I up the gas limit by like 50,000 just to be safe.

Back when I could set gwei to single digits and get it done eventually.

[scenic crescent]

will do that to be sure, thanks

[clear cloak]

When a stake ends do you continue getting rewards for that stake? Pretty sure answer is yes.

[coral pike]

als long as you dont withdraw it yes

[clear cloak]

Also would people recommend staking 6-10k SLP before V2 or wait.

[coral pike]

#914729745785171999 message

[livid light]

I would just stake it now to pay a $150 gas fee the rewards will stake faster

If your in the SLP pool it will stay in V1 if staked you just have to pay to upgrade

at this point you will be missing out on rewards for 2-3 weeks waiting for a date for V2 migration... all your choice though 🙂

Also keep in mind the term your doing as well makes a big diff in APY

[trail sail]

Yeah just double check contract ( @finite eagle )

[coral pike]

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

[ashen sentinel]

where is the rewards from？transaction fee？

[broken herald]

hey guys do we have a date on staking v2 yet?

[brisk surge]

Staking rewards are from the 3 million tokens set aside for yield farm. Rewards will be distributed for 3 years from when they started in July.

[carmine swift]

Give me all your money

[gloomy gazelle]

Do you have a problem that we can help with? Did you get a DM from a blickter impersonator? #🚨❗〕report-scammers

[clear magnet]

Hi guys, what is staking V2 ?

[gloomy gazelle]

It’s an upgrade to the protocol. It will reduce gas fees and implement several nice features.

[clear magnet]

oh nice... 😀

[median canyon]

It doesn’t specifically HAVE to. But it should and most likely will.

[coral pike]

is the plan to have the illuvidex on L2 (IMX) at some point?

[bright salmon]

What is the point of Staking SLP ?
For ILV I got it you have REVDIV but ETH what it's for ?
You get compensated in ILV/ETH = SLP and high APY and haft REVDIV from ILV staking ?

[brisk surge]

Rewards for SLP staking are just in ILV. Currently it has much higher APY than the ILV pool so thats why people do it. When revdis start only the ILV portion of of the SLP is eligible for revdis, half the $ value of your SLP.

[gloomy gazelle]

The eth/ILV pool gets 4 ILV for every 1 ILV of rewards to the ILV only pool. Why? Because providing liquidity in the eth/ILV pool is very useful for the project. Deep liquidity is important to token price and locked liquidity is a good sign for new investors.

[analog sluice]

Hey guys quick question. The only way to get sILV is through staking right now right? With what I'm staking I don't think my sILV will be enough for the landsale by the time it releases so trying to figure out if I just buy directly through ETH or not. 🙂

[coral pike]

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

[analog sluice]

Thank you!

[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

[hidden pebble]

I have staked some ilv in the pool a month ago and I am going to stake another part of ILV in the pool now. It mentions that I will have to claim the reward first in order to stake, yet the system allows me to just go ahead and stake. Should I click the stake button or I really have to claim first.

[gloomy gazelle]

Just go ahead and stake.

It’s actually going to give you two transactions back to back. First is the claim. The second is the new deposit.

[hidden pebble]

thanks. In this regard, is that the reward will go to the vesting part?

[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]

It’s up to you. It’ll be either an ILV claim or a sILV claim.

[hidden pebble]

um, some part would like to clarify. My first stake is locked up for 12 months, does the ILV rewards still subject to this locking period or I can take use it freely? my impression is that it still have to vest with a locked up period of 12 months.

[gloomy gazelle]

ILV rewards do get locked for 12 months from the moment they are first claimed/vested

silv do not.

[hidden pebble]

Then In this case, there will be three part of staking. One is the old stake (locked up for 12 months), second is the reward (vesting with compound 2.0) and third is the new stake?

[gloomy gazelle]

Meaning if you do the new deposit today. And choose to claim as ILV then the pending rewards you have would be unlocked in 12 months from today.

[gloomy gazelle]

Yeah. But that’s ok. V2 is going to make it all work smooth.

I’ve got like dozens of vesting batches it seems

Good thing v2 is gonna save the day.

[hidden pebble]

Yes, actually I would like to wait until v2 to stake my second batch but since it still have around few weeks to go live, I am considering if to stake first since the amount of ILV is not small

[gloomy gazelle]

Do the math. If you’ll earn more than like $100 in a week then probably it would be worth doing.

[hidden pebble]

Does it consume gas to vest again if I claim the tokens? or it will automatically go to vesting?

[gloomy gazelle]

One transaction to claim/vest

[hidden pebble]

yes, striking a balance between gas and stake.

[gloomy gazelle]

Check this post. #🥩〕staking message

You could also make a copy of this sheet and calculate potential gas fees. https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit?usp=sharing

[hidden pebble]

I understand that I have to do upgrade once which consume gas. For the migration, is that it only applies to staking which I have to do 2 times only?

[gloomy gazelle]

Migration would be a transaction for each initial deposit.

And would be done AFTER those deposits unlock.

So not soon

[hidden pebble]

Ah i got it. So I can only do migration after the stake is unlocked and every reward under this lot has to consume V1 gas?

Is that there is nothing has to be done on the rewards to V2 and they will automatically be carried from V1 to V2(like rewards under vesting or rewards pending to be claimed)?

[gloomy gazelle]

Not sure what you mean exactly. But there will only need to be one UPGRADE transaction that will “move” all vesting rewards from v1 to v2. There will also be an additional claim transaction possible as part of the upgrade process.

[hidden pebble]

Great thanks for your help Pelican. I think I got my answer. 🙂

[opal tulip]

Why not make revenue distribution airdrop style? Without the need to interact with any contract?

The revenue distribution will automatically read the staking contract and airdrop accordingly. Wouldnt that save a lot on gas?

[gloomy gazelle]

For the stakers maybe. But not for the protocol. Paying to airdrop tiny amounts is not ideal. But allowing stakers to stack their claimable revdis until makes sense for them to claim it works well. It may even allows stakers to time their potential cost basis.

And additional cost to the protocol means loss of revenue for all stakers.

[pale trellis]

Remind me, will I be forced to claim when upgrading to V2?

[atomic lagoon]

Nope you will not be forced to claim.

[pale trellis]

Thanks

[gloomy gazelle]

But if you don’t claim those unclaimed rewards from v1 you’ll simply not have them until you do claim them.

You won’t be able to claim the old v1 rewards along with the new v2 rewards at the same time. Does that make sense?

[pale trellis]

Hey, kind of. I have 7 ILV to claim now from SLP pool and 0.4 from ILV pool. I thought I would wait to upgrade to V2 and claim just my SLP pool ILV and let the other build up more.

[gloomy gazelle]

Yeah seems smart.

One day you could claim that .4 as sILV or something.

[pale trellis]

True.

[gloomy gazelle]

I’m not sure you’ll be able to claim just the SLP rewards during the upgrade. But maybe. I can imagine why it might work that way even though it doesn’t work that way right now.

[pale trellis]

Happy to claim from both pools in one transaction if that’s what you’re thinking.

[median canyon]

Yes.

[viral basin]

is it better to do locked staking for one year

[jovial root]

If you are a long term holder who doesn't want to be able to sell if the market crashes... then yes, you get better rewards for staking it the full year

[shadow sonnet]

Do you plan to partner with Binance to add staking?

[acoustic obsidian]

Is v2 live?

[jovial root]

Not yet. But very close

[ivory igloo]

Question for the new staking v2, will we have to unstake our old pools?

[manic pike]

Do we know when V2 comes out?

[jovial root]

I believe at the moment all their focus is on Decentralized systems

[acoustic obsidian]

In order to stake in v2 we have to send our ilv and some eth for gas to a wallet and connect it to the illuvoum site?

[jovial root]

Last I heard it was 2-3 weeks, but could be sooner

[shadow sonnet]

Gas is affordable mostly for big investors. They must focus on regular gamers too.

[jovial root]

Check out pinned msgs. The last 4 are all aviut V2.
Good videos too

[jovial root]

You do realize you pay GAS through the centralized exchange rates right?

Would you prefer to pay 5% more everytime you buy and sell, or pay some GAS at a time when it's cheap?

It's like people who won't buy $20 item and pay $5 for shipping...

But an item that is $26 with FREE SHIPPING oh that is a great deal!!

[shadow sonnet]

No gas on CEX

[jovial root]

Anyways, if you read about their L2 plan, then you will see they are fully committed to doing exactly this.

They have long had plans to team up with IMX to move Illivium to a Layer 2 tech.
And reduce GAS fees to cents rather than dollars.
Plus looking to make use of IMX Fiat onboarding.

[wicked sail]

Hey guys does game revenue distribution only go back into the ILV pool? Or is it both SLP and ILV?

[shadow sonnet]

L2 would be great! Especisaly if Binance will support it too.

[woven ibex]

🚫 newtoitall | Polemos, you can't use that.

[bleak tinsel]

New UI Staking V2 looking clean af

There's 2 quick demo videos too!

It is weird that I'm this excited about this? 🤣

[kindred moth]

damn, just claimed my rewards because the fees are quite low xD should have waited

[bleak tinsel]

Dont worry you did good, It's not finalised yet, but looks like it's close.

[agile anvil]

Did any of you have trouble with the Illuvium staking platform approving your Trustwallet?

Like you click Approve and it never prompts your wallet?

[nova marsh]

Is it true that with V2 staking, locktime will 2 years instead of 1?

[brisk surge]

Guys how much can Iake in a month if I stake 1IVL

[stuck pelican]

how can i compound my rewards from sushi LP, probs a bad question, but is there a way around the vesting

[brisk surge]

How much can staking 1 ILV make me in a month?

[stuck pelican]

divide the APY by 12 then multiply, so .028 ILV for staking, and .313 ILV for sushi LP

[timber sequoia]

better using the APR than the APY

[stuck pelican]

Yes your right, APR would of been a better estimate, I just didnt want to do the extra step cause im lazy, figured the estimate was good enough

[pale stump]

Sorry for the dumb question, I want to claim ILVs from SLP pool. Do I have to claim ILVs from ILV pool too?

[tacit pendant]

Not at all. I saw the videos and was like damn that’s clean af! Can’t wait 😂

[muted elk]

Hey, is it possible to stake tokens held on Binance Smart Contract Chain?

[atomic lagoon]

I don’t think you have to. You can claim SLP pool separately.

[pale stump]

Thank you bro

[bleak tinsel]

No

[bleak tinsel]

😂💎💎

[normal blaze]

Guys I forgot, what pool makes u claim the other one automatically? LP or ilv?

[wet ingot]

LP, i believe

[slate scroll]

If you claim from ilv/eth pool you will be forced to approve 2transactions 1for single ilv and 1for ilv/eth pool

Soon with v2 we will be able to claim only from one pool

[normal blaze]

Yes so if I want to claim from both I should hit claim bottom on slp pool, then the other one gets claimed automatically with a seperate fee, yes?

[slate scroll]

Exactly like that

[normal blaze]

Great just did it the wrong way round 😂 but for some reason it didn’t claim 3 times. Cause I’ve done that mistake before and made me claim $0.01 for a $49 fee lol

[slate scroll]

That's the only important thing you didn't pay extra fee

[wicked sail]

So in staking V2 the only way to claim rewards in the SLP pool since they're locked is to use staking v1 right? Can't migrate if tokens are locked?

[slate scroll]

Every v1 must be upgraded, migration is not necessary

[wicked sail]

The upgrade will lower the gas fee ya?

[normal blaze]

$71 total to claim from both pools 🥳 seems like a bargain these days lol 4 weeks ago I’m sure it was $170

[slate scroll]

When you upgrade v1 slp everything there is done with one transaction, but if you want to migrate you need one transaction per previous deposit so if you have 10deposits in SLP pool you need 10transactions

But like I said migration is not necessary, and yes upgrade should lower gas fee and it will be possible to claim only one pool if you wish

[verbal heron]

https://gfycat.com/glitteringgrimyamericanbittern

[brisk surge]

Hello guys ! I Wonder something and I need you help 😇

I am planning to buy like 0.5 ilv per month. Should I stake it since the beginning or should I wait to stake after reaching let's day 1 or 2 ilv (or more) ?

Can someone help and explain me why please?

[cunning perch]

It totally depends on the gas and how much you have set aside for it. I suppose you wanna stake it in the ILV pool and not SLP, so you can figure out if it is worth paying gas for 0.5.

[vast hedge]

Nice video in announcement!
I noticed only Trezor hardware wallet… I’m assuming Ledger will also be ok to use?

[cunning perch]

seems like we don't need V2 anymore haha 😄

[cunning perch]

Yes I'm using Ledger and love it

[vast hedge]

Noice

[cunning perch]

#🥩〕staking message

[normal blaze]

Hey man 😀. Hahaha I wish , just wait till the next bullish moment in a few weeks it’ll be back to $200 claims. Any idea how much it’ll be to claim on v2?

[cunning perch]

No idea. But since the Vid shows you can claim all in one go, then whatever the amount is, you can now wait until gas = 1% of the total value of your claims. I guess it would be much easier. But if it even utilizes the cost of gas as well, then I guess we'll all be claiming much faster

[normal blaze]

Thanks 🙂

[vapid thorn]

That video got me all hyped up

[upper flicker]

when will V2 be online?

[cunning perch]

Probably early January

[hot lynx]

Zup .. just did some SLP at 30's gas ... Ahhh the good old days 👍🏻 @cunning perch

[cunning perch]

Noice. We've been seeing 30s these days. hope it goes down and V2 drops it further so we claim everyday haha 😄

[hot lynx]

V2 🚀 ..... 👀 Ye ye

[warm knoll]

would like to see the revDis part 😅 make us dream plz

[cunning perch]

yeah same. It could be interesting to add that into the same reward claim TX, but not sure that's gonna happen. It might be a seperate TX

[hot lynx]

Glad you put all your Turkish lira into crypto 👍🏻 🚀

[cunning perch]

lol. Cash = 💩 no matter the currency haha

[hot lynx]

Yes but all FIAT into Crypto is a good staking idea vs mega inflation

[cunning perch]

Well, that's why we are here 🙂

[hot lynx]

Of c's my Habib zero issues . We can go off staking to off topic and catch up I can sense your in pain 🤲

[cunning perch]

Haha no worries. I'm busy with tons of stuff now 😄

[hot lynx]

Yes Polemos ... 👍🏻

[coral pike]

https://tenor.com/view/sheldon-jimparsons-bigbangtheory-funny-true-gif-4582032

[hot lynx]

Ok mate take care I need to do some NFT farming bbl

[cunning perch]

sure. Have fun 🙂

[brisk surge]

Thanks ! And how the v2 will affect my staking ? I mean, can I add some ILV to my staking after the V2 will be deployed or it will be another pool ?

[cunning perch]

It won't. It's an upgrade. Any new stake will be directly on V2.

[abstract junco]

Hey guys,
one question: The ILV rewards that i earned from SLP pool automatically lock for 12 months vesting period that i know but while they are compounding in ILV pool and if i claim will those rewards also lock for 12 month period?

[gloomy gazelle]

Yes. Any ILV rewards from YF are locked for 12 months. (Revdis will be unlocked though)

[abstract junco]

Ok thanks

[stark tapir]

hi admin, "12 months vesting" is

• return 1/12 reward monthly or
• locked all, and receive all after 12 months
  which one?

[livid light]

all locked for 12 🙂

It locks them up for the 12 months for each ILV reward you claim.... if you claim again in 30 days it is another 12 month lock

ends up looking like this

[peak ferry]

Do I only receive revdis on my staked ILV on do I receive them also if I just hold ILV without staking?

[delicate cloak]

Has to be staked.

[tribal hamlet]

what are the benefits of staking

[woven ibex]

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

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

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

[tribal hamlet]

why should i stake

[delicate cloak]

Stake if you want revenue distribution and yield farming rewards. No one is forcing you if you don't want to.

[tribal hamlet]

oh fax thanks

[normal dune]

Claimed locked rewards compound, correct? And if so, at what rate?

[cunning perch]

They compound. When you claim, they will be locked for one year and will have a weight of 2X and will locked for 1 year AFTER the claim

[normal dune]

Thanks for the info!

[keen burrow]

hei guys! someones here who can explain me as simple as possible how the tokenomic works? i dont udnerstand the whole thing actually with burning, rev dis and so on 🙂

[cunning perch]

1. you can stake ILV to get ILV or sILV as rewards. ILV will be locked for one year after you claim it while sILV will be released to your wallet to be used in the games/land sale/Illuvatar Auction.

2. any staked ILV will receive RevDis. RevDis is generated by ETH spent in game in a way that all that ETH will be used to buy back ILV and it will get distributed in form of ILV to stakers.

For more info I suggest watching some vids. Vetemor and some other ppl have good videos regarding this in theirYouTube channels.

[delicate plaza]

When all the seed tokens unlock in March - are these able to be staked? Can we expect the staking rewards to drop heavily then if they were to mostly get staked?

[cunning perch]

All the seed token will not unlock in March. They can withdraw and stake if they want and they will again have to lock. Why would they if they get lots of RevDis already? would they wanna bet on YF and not RevDis? That's a choice they themselves have to make.

[delicate plaza]

Oh gotcha so currently they are already "staked" but for rev dis?

[cunning perch]

Yes they will receive RevDis but not Yield

[delicate plaza]

Awesome! Forgot that they were unlocking rather than receiving the tokens. Makes sense

[cunning perch]

Yep. They already have tokens, but fully locked in a seperate pool 🙂

[coral pike]

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

[rapid wraith]

Cool thanks

[coral pike]

@rapid wraith this should keep you busy 😆

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

[pale trellis]

That’s good to know for us small fry

[keen burrow]

what are seed tokens?

[keen burrow]

so if i stake in normal ilv pool (flexible) and some time later i take rewards, my staked ilv are automatically locked then for a year?

[queen vapor]

Trying to stake sushi LP. Says I need to collect existing rewards. When I do that, I go to confirm in wallet, the miners fee processed, but nothing happened to current pending rewards. Still says they are unclaimed. I am out the miners fee, and still can’t stake my sushi LP due to these pending rewards. I am doing something in the incorrect order?

[keen burrow]

and what is the differnce between revdis and yield? 🙂

[cunning perch]

Seed are the investors

[long flume]

ok

[cunning perch]

When you claim rewards, they will be locked for one year. unless you claim sILV (the in-game side token as the main currency will be ETH). Besides, in 2 weeks to a month, after Staking V2, there won't be any Flexible pool.

[keen burrow]

aah i see. so just the rewards (ILV) is automatically locked for a year? and do they also give revdis or not?

[cunning perch]

What do you mean "pending rewards"? When you claim "claim ILV" in SLP, it will force you to claim ILV rewards first. Now if you want o make a new stake, when you stake, it will again force you to claim your pending rewards. This issue will be fixed by V2

[cunning perch]

After you claim them, Yes. They will receive RevDis and Yield

[keen burrow]

so whats the difference from revdis and yield?

[cunning perch]

!revdis

[woven ibex]

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

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

[cunning perch]

Yield is through staking and will decrease over time and finish in 3 years. (3 years minus 6 months to be precise) while RevDis will be like forever in form of ILV distributed between stakers.

[keen burrow]

thx sir

[cobalt dew]

Hello. Can anyone tell me whats the best way to stake ilv? I dont know if I should stake ILV or ilv/eth LP

I'm targeting long term, 1 year lock

[gloomy gazelle]

LP costs more gas fees but has a way higher apy. So if you have the funds to afford it LP is the way to go it seems. $3000+ is about right I’d say (maybe should be more). Just don’t stake until after v2 unless you’ve got a 5-6 digit bag. Otherwise staking 1-2 ILV should be a single asset pool thing. But should also wait until after v2.

[cobalt dew]

v2 should be here around january, right?

[severe mural]

will the be guide how to stake when V2 launches?

[gloomy gazelle]

Yes and yes

[cobalt dew]

thanks

[serene bobcat]

Will staking v2 enable us to transfer out locked tokens?

[gloomy gazelle]

No. Only unlocked deposits.

[serene bobcat]

Can we suggest to have that feature? My wallet is aids and I want to protect my locked stuff.

Or is it entirely impossible right now?

[cunning perch]

It won't be possible as they are locked in V1 and therefore untouchable. The only way to change wallet is when they are unlocked. RN they are locked in an irreversible smart contract.

[serene bobcat]

Got it. Will just have to live with my ILV being vulnerable.

[cunning perch]

Just make sure you don't click on any sus link and if constantly trading try doing so using other wallets with different seeds and not with the one that keeps your staked ILV (just a suggestion)

[serene bobcat]

Roger, I am slowly transitioning to doing that.

[gloomy mountain]

Hey newbie question here. Do I need to claim my rewards in order for them to be compounded on?

[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.

[gloomy mountain]

Thank you very much

[bronze saffron]

!claim

[cunning perch]

No using bot commands. Thank you. Use in #👑〕bot-commands if you have to

[digital leaf]

Sorry this is prob a really stupid question but I've only ever staked ILV and liquidity pool. Thinking of claiming my recent rewards in Silv as I believe it's better for buying land. Does 1 ILV = 1 Silv? Or if not how can you find out how much you would get?

[cunning perch]

In ILV ecosystem ILV = sILV in terms of $. Claiming either is your choice.

[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.

[inland python]

is it possible to stake sILV or just ILV

[cunning perch]

You can only stake ILV. sILV is not stakable

[craggy cliff]

Newbie here to ILV and staking. If I want to stake ILV after V2 release and have a Ledger, can this be done directly from Ledger Live (skipping the steps listed above), or are these other linked steps from Moz4rt required first?

[gloomy mountain]

Can someone tell me why I can’t claim my pending rewards? I am trying to claim them so I can compound. I executed the dapp twice and paid the gas fees but the pending rewards are still there

[gloomy gazelle]

The transaction is probably pending. Check etherscan.

That or you are claiming SLP rewards and both transactions aren’t being processed fast enough

[gloomy mountain]

Thank you very much. It was me claiming SLP rewards. So you think I just need to wait longer for it to process?

[gloomy gazelle]

Maybe. I don’t know if the transaction is processed or not. It’s possible that something was done incorrectly. Claiming from SLP pool can be tricky. The two transactions should be set to the exact same gwei price.

[digital leaf]

Can anyone tell me if the pinned calculator factors in re-investing the revdis or taking it out each time?

[gloomy gazelle]

I assume revdis is not included. I’ll have to check. The one from @steady trellis right?

[digital leaf]

Yes👍

[gloomy gazelle]

Mostly those have been factoring yield farming distributions and No revdis since it’s unknown.

[digital leaf]

OK makes sense, so the figures will look even better if I keep ploughing revdis back in!

[gloomy gazelle]

Yup. That’s how it works.

[brisk surge]

😍

[abstract junco]

So the staking will end in about 3 years after that people can't stake anymore and they won't get to be part of revdis?

[cunning perch]

They can always stake to get RevDis even after YF is over.

[abstract junco]

isn't staking gonna end in like 2024?

[cunning perch]

Yield Farming will, not RevDis. 🙂

[abstract junco]

no i know that, You get revdis on the tokens that you got from YF right

[cunning perch]

you get RevDis for whatever ILV that is staked/claimed. So if you stake ILV you get it. If you claim ILV you will also get RevDis. Rn, they also receive Yield. Later when Yield is done, they still get RevDis unless you withdraw

[abstract junco]

that wasn't my question and i know it😅 ...If people will be joining ILV after 2024 then they won't get revdis in any way possible because staking would end by then thats what im saying

[cunning perch]

They WILL get RevDis. After July 2024, they can stake and get RevDis. There just won't be any Yield. 🙂

[abstract junco]

Then whats the point of staking? just for revdis?

[cunning perch]

after 2024, yes. which is massive by then

[abstract junco]

ok understood now

[clever blaze]

What's best strategy to make money with ILV?

[coral pike]

DYOR

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

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

[modern trench]

question about rewards, didnt see it in the guide above. Can I re-stake my ILV rewards if I claim them? I

I currently havent claimed any but would be interested in using my rewards to re-enter SLP staking

[twilit gyro]

It does so automatically

[coral pike]

only after they have vested. once you claim ILV reward they are automatically vested in the ILV core pool for 365 days at 2x weight

[modern trench]

so i would have to claim to get the core pool rewards? is there any way to take the reward ILV and put it back into SLP?

[gloomy gazelle]

!claim There is not a good way to get liquidity from ILV rewards back into more SLP. Technically it’s possible to claim sILV, sell sILV and then get ILV to then get into eth/ILV SLP again. But it is SUPER lossy.

[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.

[balmy relic]

That new staking dashboard looks cleannnn

[modern trench]

thanks this was the answer im looking for

[lime anchor]

So I've been reading a lot of the guides and watching ILV price. Seems like waiting for stake portal V2 is the play and then I'll take the risk on the Sushi LP. My question, is 1 ILV enough to really make sense doing it at all? Seems like I'll get washed out on gas fees collecting stake rewards if I can only afford to come in at 1-2 ILV to start.

[jovial root]

I believe that as long as you have upgraded your pool, your V1 stake will be treated as V2

[jovial root]

For Sushipool staking, i think you will need equal value of ILV and ETH, so if you have 1x ILV, you will also need approx 0.28 ETH for staking, plus ETH for GAS.
Which from memory will cost about $300-$400 for the full Staking process (Add ILV and ETH to Liquidity pool, collect SLP in exchange. Take SLP to Illuvium website and stake the SLP there).

So in total you need about $2600 to stake 1 ILV in the SLP pool to earn 400% APY over the year.
Which when you claim the rewards... it will require 12 months before it vests (unlocks).

Is it worth it... for me, Yes it was, because I started small to get familiar with it all, and keep on adding when I have saved up like $5k from my salary.

BUT... would it be better for you to buy Discounted sILV now, to use in game when it launches in a few months, and to push hard to access the in game rewards and marketplace... ???

OR would it be better to buy sILV to try and buy land, to use that land to generate Fuel for you to use in game, to catch and sell Illuvials.
Also to generate blueprints for you to sell.

OR is it better to buy discounted sILV now, in the hope that the price of sILV rises a lot just before landsale, for you to then sell that sILV to buy and stake ILV in SLP pool.

LOTS of options... I don't think any is better than the other.
It all depends on how much time and money you have, that will decide which is the better option.

[delicate plaza]

My strategy is currently to buy some sILV to buy a piece of land - whatever is left over or if I miss out will be sILV I use on launch.

[jovial root]

Yes, with sILV price dropping so low, but ILV holding steady, I am also loading up on sILV.
But... I also have a lot staked already.
So mostly trying to diversify into ALL of the strategies that I mentioned above

[midnight crow]

How much sILV are you putting aside for the landsale (if you don't mind sharing)? and what are you planning on buying?

[jovial root]

At a minimum I plan on buying 1 land in each Region for the reasons of Blueprint affinity (So 7 lands).

I am not yet sure if they will be T1, T2 or T3 or a mix of those.
It all depends on how Auction prices go. If they are all as high priced as we expect, then I will be buying T1s... if some Auctions are getting down to 50% or lower on price, then I hope to get a T2 or T3 mixed in there

[midnight crow]

What do you mean by Blueprint affinity? Having one land in each region is interesting. I hadn't though about that. I was hoping to get a T3. Hopefully, some lands will be available long enough to go down in price.

[jovial root]

Blueprints can be created when you successfully scan an Illuvial.
The Region of land will have an underlying Affinity that determines which Illuvials will likely be encountered there.
So if your land is in a Water region, you are much more likely to scan a Water, Air or Nature Illuvial than you would a FIRE illuvial.
Not impossible, but Mathematically improbable.

So to get a greater variety of skin types, I will have a blue print scanner in each Region, to focus more on scanning that particular Illuvial

[midnight crow]

Thank you for explaining. Are the blueprints NFTs? I am just wondering how they are stored/recorded. Can they be traded/sold?

[midnight crow]

So, it looks like you are focusing more on the blueprint aspect and less on the fuel aspect. I suppose that makes sense since the blueprints will persist into the game, but fuel will not.

[jovial root]

This may not be the most cost efficient way to do it... a single T3 in Water Region may produce more Blueprints and more Fuel, thus providing me more money to just BUY the other blueprints off the Market...

BUT I like the idea that I may be the first person to find a Blueprint... then it gets my name on it. And that chance of finding an ultra rare Blueprint... that you may never want to trade

[midnight crow]

Very interesting strategy. It's a nice plan. I wish you the best of luck finding those extra-rare blueprints.

[jovial root]

Blueprints are NFTs, and the items they can be used to make, will also be NFTs.
So people may be able to make a Pair of daggers... but with certain Atlas Blueprint, you could make Atlas Wet Daggers... which has the exact same stats but the visual skin is different (maybe it has dripping water effect).

And whoever owns the Blueprint are the only one's who can make those items, and then sell those items.

So if it is a super rare Blueprint... I MIGHT be the only person in the whole world who can make Atlas Wet Daggers....and I might decide to make only 1 a day, and the cost is 100ETH

[midnight crow]

Very cool!

[jovial root]

Yes, but that is my gameplay plan.

BUT I have ILV staked for the long term Hold (think 10 years).
Because revdis and staking rewards is what will make the big money long term.
If I can compound grow it, and not sell any ILV while others are... 1 day I might own 1 or 2% of all the ILV... imagine earning 2% of Billions of dollars revenue... every year!

[midnight crow]

Do you know how the scanning/item making happens? Are Illuvials walking across the land and then you catch them and scan them? Will landowners be able to make items?

[jovial root]

Head over to #🎮〕illuvium-zero for more info on this

[midnight crow]

Good point. Sorry, I thought I was there and not in #🥩〕staking

[jovial root]

Haha me too oops

[midnight crow]

That would be sweet! But 60,000 - 120,000 ILV, that would be impressive.

[jovial root]

Yes... and although it seems impossible at the moment... the Tokenomics of Illuvium make it very possible for anyone who can resist selling and keep compounding their growth.
The power of Revdis is, that the lower the price of ILV token, the more tokens that get purchased using Revenue.

The higher the price of ILV, the more people likely to Sell ILV and thus not have it staking to earn rewards.

So as a long term holder, you do well in both a Bear and Bull market

So yeah... 100 ILV to 100k ILV in 10 years... let's see if I can!

(Well first I need to get to the 100 ILV... but that's what staking rewards are for!)

[midnight crow]

I saw a video with someone with 16 SLP. He said he was making 1 ILV a day.

[jovial root]

Yes, because 16 SLP is around $80k

[scarlet pumice]

Yeah. Pretty much. For perspective 2 SLP earns 1 IlV every 10 days. 3K/mo to be vested starting the following year ain’t bad

[scarlet pumice]

Staked an SLP token about 2 days ago. With gas prices between 50-60 gwei, total gas fees across transactions will run you $120-170 reasonably. I had to claim rewards, so that was about $40 there.

Saturdays and Sundays seems to have the lowest gas prices

[scarlet pumice]

Yeah, after spending a little time with this project, I see that buying sILV at a discount then selling when it potentially peaks during the land sale could be an ideal short-term strategy if you have a smaller investment you want to grow quickly. Then take that to the SLP pool

[violet token]

is sILV available to purchase yet? I don't see it as an option on the sites listed on the main illuvium page

[midnight crow]

Not officially, but yes on uniswap.

[lime anchor]

Thanks everyone! This is super helpful context. Fully agree that I'd need to back to back my ILV with ETH for the LP, so that's part of the math. I've got plenty of ETH, but 0 ILV at the moment since I just stumbled on the project a few weeks ago. Seems like I've missed the boat on staking imo. sILV may be better short term play to stock up for land sale, maybe stack 1-2 ILV in the LP + ETH for a long term play, but the gas is just brutal.

[gloomy gazelle]

I don’t know man. Staking YF continues for 2.5 more years. PLUS revdis is only available to stakers.

!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]

!goals

[woven ibex]

Illuvium is not meant to be just a single game but a gaming ecosystem that this DAO wants to develop to such a level that it can compete with gaming juggernauts like Blizzard, EA or Riot.

In 2020 Activision Blizzard's annual revenue was 8 Billion USD. At the time of writing this, their Market Cap is 64 Billion USD with a small dividend yield of 0.50 percent.

Illuvium offers 100% revenue distribution to ILV token holders according to their stake and with a max supply of 10 Million ILV to ever get minted, the revenue per staked ILV will increase with every additional game released.

[gloomy gazelle]

!lp ILV/eth SLP pool would be the way to go if serious.

[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]

!read

[woven ibex]

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

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

[lime anchor]

I mean are there any strategies to help avoid the gas on claiming rewards besides waiting for low GWEI? it just seems like I'll be wiping out 10-20% of the rewards each time

[gloomy gazelle]

Just don’t claim as often.

Claim when the fee costs maybe 1-5% of the rewards being vested.

Or less even.

[midnight crow]

Also, my understanding is that v2, coming soon, is meant to help lower fees

[lime anchor]

k, lots to think about, and thanks for the articles. I've read through most of these I believe. The RevDis is super enticing and yes will wait for v2 for sure. That seems to be the common recommendation I've seen in here

[gloomy gazelle]

When ILV price pumps back up the apy in the SLP pool will be back over 400% I’d imagine. Not that the actual number of ILV rewards will change much.

[lime anchor]

it's certainly hard to turn away from the APY

[gloomy gazelle]

Yeah unless you’ve got 10k+ to put into SLP then waiting makes sense.

[lime anchor]

Wish I did, but only a fraction of that.

[gloomy gazelle]

I mean I’d buy ILV now and pair it with eth later. After it comes up out of this dip. I mean that’s the hope. 😂

#🥩〕staking message this tool is nice.

[lime anchor]

Right, market doesn't seem to know what it wants to do at the moment.

[gloomy gazelle]

I think vetemor does have a how to video up at this point

[lime anchor]

thanks, I found the calculator earlier as well, super helpful

[gloomy gazelle]

Ok there’s some other pins too.

[clear cape]

@hexed bough

It costs me 150 USD to claim SLP rewards at around 35-40 gwei but for another wallet, it costs me noticeably lower and it seems like some of my friends also pay less than i do

Are there any other factors that affect this gas cost, such as maybe how many SLP stakes you have etc?

[gloomy gazelle]

Yeah I think there are some factors that add complexity and therefore cost.

Carlos would probably know

[acoustic obsidian]

If i stake 1 ilv for a year and two months layer i buy 1 more ilv, can i stake that too? Or do i have to wait the one year period to stake something else than my initial 1 ilv?

[gloomy gazelle]

You can add more deposits to the staking protocol at anytime

[rapid kestrel]

Will the apy start to drop significantly after the seed tokens unlock?

[acoustic obsidian]

Perfect! Thanks

[jovial root]

Hmmm if anything I expect it may increase.

If the tokens unlock and they don't stake them, they are not eligible for staking or revdis rewards.
Also I believe the Sushipool APY is someone what influenced by the amount of trading that happens too.. so the more in circulation the more trading.

But just my theory

[clear cape]

Highly likely, in terms of how many ILV you get a day.

APY fluctuates a lot dependant on price. So APY might 'increase' but you're still getting less and less ILV a day

[rapid kestrel]

Yea, have been getting lesser and lesser payout in rewards recently.
So im concerned it might drop too much because I don’t know where those unlocked tokens will be in staking pool or separate wallets

[clear cape]

A fair amount will likely be put into staking. But APY should still be good, just not as good as it has been

[rapid kestrel]

Hmm I guess ill hold and wait first

Was thinking of buying more ilv to stake but rewards are falling

[rapid kestrel]

Good explanation

[clear cloak]

Is it March that reward tokens start unlocking ? What is the exact date?

[atomic lagoon]

March is seed tokens. Reward tokens are around Jun/Jul 2022.

[supple meadow]

any update on when V2 is coming out

[fresh grail]

No concrete date yet

[limber stirrup]

Hello friends I am staking illuvium / eth

What’s in it for me ?

[cyan rampart]

#🥩〕staking message

It ain't a date, but it's an update.

[cyan rampart]

!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

[exotic igloo]

Is it possible for land sale to take place without v2 staking?

[clear cape]

Yes Aaron said it was possible, but we should get v2 before land sale

[median canyon]

Yes. It will almost certainly be the other way around.

[fair brook]

When does V2 staking come out?

[fair brook]

Should I only wait till v2 to stake?

[atomic lagoon]

if the staking amount is not significant, you should. The gas fee for upgrading need to out weigh the reward in 2 - 3 weeks time that you will get from staking now.

[modern comet]

will there staking illuvium migrate to layer 2 ?

[cunning perch]

Layer 2 comes with staking V3. It will take time.

[craggy cliff]

Is there much info on the benefits of future V3? (To my understanding V2 is basically to improve on gas fees)

[cunning perch]

V2 is to improve gas fees, RevDis, claims, wallet change. V3 will be on L2. No date yet.

[craggy cliff]

thanks

[sly pelican]

Is the reward higher if you have more staked for example in that 2 week no rewards window?

[cunning perch]

After the two-week halt, there will be a bonus. no one knows what or how much that bonus will be.

[sly pelican]

Ah gotcha, cheers

[coral pike]

https://tenor.com/view/mystery-gif-4709344

[stray eagle]

Whats this about?

[cunning perch]

When V2 is out, for 2 weeks yield will stop so everyone can upgrade. After that there will be a bonus to compensate for the two-week halt. It is written in the IIP. 🙂

[stray eagle]

Ah ok

Perhaps a boost in the APY for 2 weeks

[cunning perch]

Anything can happen. APY is dumb as Deraji said perfectly. More rewards are better for sure.

[stray eagle]

Yup

[cunning perch]

or free sILV, cuz it will happen most likely before land

[stray eagle]

Mmmm gimme ilv!!!

[cunning perch]

well the fact is anything is good. 😄

[stray eagle]

Enough silv 🤣

[cunning perch]

That discount is juicy AF haha

[ruby drift]

Has anyone got an error message saying Invalid Session when trying to claim SLP rewards? I'm using trust wallet.

Of course I have an issue when gas is in the low 30's lol

[urban elk]

Can you post website ?

[thorn spindle]

any updates about V2 staking?

I kind of really wanna stake before landsales..

[cunning perch]

It will most probably be early January before land sale. But that remains to been seen. No official date yet.

[outer mauve]

Good morning, after the lock period is finish the coins stay staked ? Or do I have to lock it again ? Also when I unstake do I get the rewards also like on other staking platform? Thank you

Also staking V2 will affect my stake ? Or it will just change the UI

[atomic lagoon]

if you don't withdraw the coin will continue to carry the same weight as you staked originally.
if you unstake, you will not get any new rewards anymore. but the rewards you claimed as ILV in the vesting will continue to yield reward and revDis if any.
If you want to continue your stake in V2, you will need to upgrade your original stake when v2 is live. If not, the stake token will not continue to yield.
for more info on v2, you can check the pinned posts.

[cyan rampart]

!staking This one?

[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

[outer mauve]

Thank you, what do you mean need to upgrade my original stake? Wouldn't that cost more eth fees? I just staked on the sushi pool and paid 100 $ in fees

I also have staked my ILV locked for one year, if the upgrade happens on January, do I have to do anything?

[atomic lagoon]

Yes. If you are in either ILV or SLP pool, you will need to upgrade once for each pool when it is out. There are 2 videos from vetemor pinned in this channel. You should check them out for more details.

[obsidian nebula]

Like kuki said. All stakes mist be upgraded when v2 goes live. You'll have 2 weeks to upgrade. Yes it will cost gas. The reason for the upgrade is that v2 is a completely different system. So to earn rewards with stakes that are in v1, you must upgrade to allow the system to treat v1 stakes as though they are in v2, even though they are not.

During the 2 week upgrade period, no rewards will be given. After the 2 weeks, everything that would have been given in rewards will be caught up plus a bonus that nobody knows what or how much it is.

Rewards that were claimed previously and are still vesting don't need an upgrade.

If you have staked rewards that are unlocked, you may migrate them (different than upgrading) when you migrate, you are actually moving your stake to v2. Migration is optional

This article explains everything in more depth
https://www.publish0x.com/ilvfi/illuvium-staking-v2-what-do-you-need-to-do-xxypjew

[outer mauve]

so basically I am stupid, I should have waited for the Stake V2

this is very confusing, because if is staked for one year, how can I upgrate it

to upgrate you need to unstake or remove liquidity?

[atomic lagoon]

the upgrading is necessary for v2 to be able to read your v1 contracts as v2.
you don't need to unstake. there will be a upgrade button. you just click it. approve gas and done!
if the rewards that you get from the moment you stake to v2 update out weigh the gas fee for upgrading, it is totally worth that you did stake before.

[outer mauve]

so thats what I mean, its only one time fee, I dont need to unstake all my different pools and lose a lot of money in fees

[atomic lagoon]

yeah. one time fee for each pool. if you stake only in one pool, then you will need to pay one. maximum two if you stake in both pools.

[outer mauve]

I staked in both core pools

[atomic lagoon]

then 2 gas, one for each pool and you are done.

[outer mauve]

and I need to claim my rewards from V1, so basically its 4 gas fees

[atomic lagoon]

claiming is up to you. the system will not force you to claim to upgrade.

[outer mauve]

so my rewards v2 will still accumulate on top of the rewards v1

[ripe steppe]

yh

[outer mauve]

basically I fuck** myself, because I only own 2 ILV

[ripe steppe]

Why do you think u fuck yourself?

[outer mauve]

Because I dont have enough rewards to pay for fees to upgrate PS: watching your videos now! great stuff

[atomic lagoon]

I wasted about $1000 when i first started staking. But it is a good lesson to learn.
no worry. we all been there. most of us are new to this stuff.

[outer mauve]

I cant afford to 1000$ unfortunally, its my fault for staking blindly without doing research about the V2

the team should give a good BONUS for the people that upgrates and been holding for long

[atomic lagoon]

there will be 2 weeks period during the upgrade that you will not get any yield. and the team will compensate the 2 weeks with a bonus (detail not known yet).

[brisk surge]

What is the diiference between the 2 core pools other than the percentage?

[cyan rampart]

The Core ILV Pool is a single asset pool - You can only stake ILV in it.
The SLP (Sushi Liquidity Pool) is a dual asset liquidity pool - You stake equal value of ETH and ILV in it.

[brisk surge]

Yes, I know that. But I mean from the earnings perspective (revdis,...)?

[atomic lagoon]

for SLP pool, you will only earn revDis for ILV portion only. not the ETH.

[cyan rampart]

Yup, that's correct. Since your SLP stake is only 50% ILV by value, you only get revdis and voting power based on half of your SLP's value.

There's also a risk of IL in the SLP pool.

[brisk surge]

Wondering whats more valuable, revDis or SLP stake?

[atomic lagoon]

no one know for sure yet. But you should check out Scoriox YT videos about it. really interesting
you can find some of his content in #🎨〕community-content

[cyan rampart]

Short term, almost certainly staking the SLP. There isn't consistent revenue yet.
Long term, revdis.

Both just my opinion though.

And as always, NFA 🙂

[outer mauve]

what if I dont want to migrate and I only want to upgrate, will this affect my APY or gas fees for the future?

[cyan rampart]

APY - No. Gas fees - Yes.

[outer mauve]

I just staked in the SLP locked for the next 2 months, do you guys recommend migrating or just upgrating?

upgrating should help with the fees too no? why only migration will lower the fees?

[brisk surge]

I saw that but too many scenarios...

[cyan rampart]

If you don't claim a lot, just upgrading makes the most sense IMO.

[brisk surge]

I staked the same $ amount in both pools yet. probably a beginners mistake

[cyan rampart]

If you're a frequent claimer, lowering the gas fees per claim is going to outweigh the initial cost of migration.

[cyan rampart]

I think a fair few people are into both staking pools.

[outer mauve]

I dont claim at all, my plan was to leave my tokens for at least a year, when the game will come out, ILV its going to explote, I truly belived in Grant and Aaron and the team, and how thye say that they want to give back to the stakers, thats why I took my ILV from Binance today and put it to stake, blindly

[brisk surge]

Wen coinbase listing?

[blissful sky]

Which krypto i need to stake? I did buy sushitoken to stake sILV but illuvium side says „Balance 0“

Im using Metamask

[brisk surge]

ILV or SLP

[delicate cloak]

Can't stake sILV, only ILV.

[blissful sky]

oh man so i did waste money now :I ty

[final steppe]

The general guidelines are below-- but definitely let us know if you have more questions so we can further assist you 🙂 Also remember that no mod or member of the team will DM you first!

[woven ibex]

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

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

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

[final steppe]

If you're interested in the SLP staking pool, see below 🙂

[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

[blissful sky]

thank u 🙂

[delicate cloak]

This summarises the differences.

[obsidian nebula]

I recently heard 2 rumors that I would love to either confirm or debunk.

1. Does revdis per ILV increase based on how much total I have staked?

2. Is there going to be a 2nd land sale before main game launch?

[daring spear]

so how much will upgrade of SLP pool cost, any idea?

[delicate cloak]

No. RevDis is per ILV. The weighting counts so your lock up period will affect the weight.

Maybe. Unconfirmed.

[obsidian nebula]

Depends on gas prices at the time

[daring spear]

lets say GWI is 100?

[delicate cloak]

I hope so! 😄

[delicate cloak]

I don't think we have a calculation yet with the new gas limits.

[obsidian nebula]

In my experience gwei of 100 usually costs about $60-70 USD. But there are a lot of variables that effect that even with the same gwei.

So that is total speculation

[delicate cloak]

I think the question was the cost of the upgrade though

[daring spear]

i just hope upgrading to v2 does not requires saome redicilous amount

[cunning perch]

It is minimum 1 and maximum 2 times and with the gas rate these days, it should be a breeze.

[obsidian nebula]

100% speculation....... but I suspect it will be very reasonable. Upgrading is basically just giving permission for one protocol to access funds on another. Not actually moving anything.

[cunning perch]

That is correct. Upgrade is just a permission.

and rewards should be handled by V2 as they are not vested yet. "Upgrade/Migrate"deals with the "Deposited" tokens on V1, not claimed/pending rewards.

[severe sequoia]

Is there an eta on V2?

[cunning perch]

January. Date unknown

[severe sequoia]

I heard it was supposed to be about a month before the land sale so we could buy land using it. Was that incorrect?

[daring spear]

So upgrading is basiclly asking us to pay in order to be able to recive further yields,but not reciving benefits from v2 such as lower gass fees?

[cunning perch]

staking V2 and buying land are not connected at all. Staking is Yield, Land is a feature of IZ.

[severe sequoia]

Got it, thank you!

[cunning perch]

Upgrading allows you to inherit and use whatever feature V2 offers.

[outer mauve]

permission fees usually are lower than trasaction rights ?

so maybe the upgrading will cost around 10 dollar fee

[cunning perch]

normal approvals, yeah.This is a complex staking approval, so might be different.

[cunning perch]

Only one way to find out.

[outer mauve]

I have to do it twice so hopefully will be low, anyway the V2 looks really clean and great UI, so it will be worth it if you plan to stake for long

[cunning perch]

Well upgrading is a MUST, so there is no way around it. You can decide whether to migrate or not later. That is your choice.

[outer mauve]

I will start saving up for ETH...

[craggy field]

No upgrading is not a must right...? but your gas prices would be the same if you did not upgrade and you would be sitting in V1 staking.

[outer mauve]

you dont get any rewards if you stay on V1 I think

[cunning perch]

Upgrading is a MUST. You don't upgrade, you don't get Yield and ofc RevDIs.

That's why they are halting Yield for 2 weeks

so everyone acn do it

[craggy field]

Aha now i understand thanks

[wide forge]

I have unclaimed rewards. What will i need to do to those?

[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.

[wide forge]

I mean when V2 comes.