🥩〕staking

[gloomy gazelle]

I think it will be withdraw all unlocked (maybe just all unlocked rewards) in a pool or withdraw 1 batch at a time.

[silk orchid]

Thank u sorry

[nova violet]

so i was wondering, what strategy ppl are using for maximum returns. im ofc staked and locked max duration for highest possible weight.

But say you sell 4k worth of $sILV you will get around half, thats 2k worth then buy more ILV/ETH and restake, you will have a higher return/intrest.
BUT again that depends on the REVDIS how mouch you get there, since you would only get half of the value staked in ILV/eth pool, that again is 1k worth of ilv.

4k worth of ILV in revdis = ?
VS
1k worth of ILV in revdis + 2k lets say 250% since its going down in average APY = 5k worth of ilv if price stays the same + revdis

abit messy maby, but i would love to hear what other ppl are doing 🙂

[nova violet]

in short's
Sell for sILV and use to restake in ILV/ETH vs just claim ILV

[cunning perch]

It depends on your PoV. Are a someone who would bed against Yield or for it? If you thing Yield is a better go now as RevDis might start small initially, that might make better sense. If you think NO, I need RevDis to the cent, then ILV is the way to go, Or, you might say NO I need land and Staked ILV to get ETH for fuel and RevDis. It all goes down to your plans. Also watch out for DMs. They are scams.

[nova violet]

Thanks Arash, i gues ur right, im not sure what the estimates for the revdis, i have been on here since above 700% return, and im aware of the scammers.
is the revdis getting sendt every 2 months or end of year?

[cunning perch]

Sure. RevDis will be paid several times a week so no one can time it. and it will be free to claim and you can then stake it or sell/hold it

[loud charm]

Hi guys! This week I bought over $10k USD of ILV. I want to stake this for 12 months and get the highest APY. Right now it's 31,45% when staking ILV for 12 months. The APY drops every 14 days if i get it right and also depends on amount of staked ILV. I read a lot about staking V2. Whats the difference from the staking today v1?

[cunning perch]

Hey. First lemme warn you about DMs. They are all scams

[coral pike]

https://tenor.com/view/all-of-this-pointing-up-there-see-this-gif-14720503

[loud charm]

np mate, but thanks

[nova violet]

Thats great, thanks alot! love that you guys are so easy to reach for the community! keep it up "cheers"

[cunning perch]

V2 is a massive help to SLP stakers as in V1, they need to pay for 2 TX to claim ILV rewards while in V2 it's gonna be done through one.

V2 will be way more gas efficient than V1

V2 will bring RevDis

V2 will give you the option of changing wallets

[cunning perch]

anytime 🙂 happy to help

[loud charm]

What is RevDis

[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.

[loud charm]

Nice. Thanks. Then I need to wait for V2 of course... RevDis is huge

[nova violet]

you can get it in V1 aswell you move over to V2

[cunning perch]

you could wait as it's not that far away. and yeah, RevsDIs is what many even the SEED and Team are waiting to receive and are counting on

[coral pike]

acctually it s bigger than you think , revdis are paid out on ANY money the DAO get for LIFE on , other games movies , ip, merch etc etc etc

[loud charm]

And should i go for SLP staking or ILV staking if i think this game will be bigger tham Axie

[nova violet]

say there is 100 tokens, and the illuvium makes 100k it will be split even to everyone holding the coin, if that made sence

[loud charm]

I dont want to hold Eth but the APY is nice on SLP

[cunning perch]

SLP needs 50/50 of tokens in ETH/ILV, so obviously it will receive half RevDis as half of your SLP is made of ILV and the other ETH. It giives you more Yield though. It depends what you are after and what your plans are

[coral pike]

see this for more info : #🥩〕staking message

[loud charm]

Ty. I will go for ILV them

What u think about cost or fee to go from v1 to v2 if i stake for 12 months now

[cunning perch]

If you stake in one pool, you will have to upgrade one time. Now how much that will be depends on the day you are upgrading and ofc the complexity of the contract. For now, no way to say.

[nova violet]

i would maby consider waiting, depending on the release of V2

im staked about 20k in the ILV/SLP pool, and 20k in ILV pool, but if you where to stake in ILV/ETH pool the rewards would be alot higher so i would gues you would get about 100 dollars worth each day that would make up for the extra gaas

[cunning perch]

you have more options as your stake is quite large, but many ppl have to decide on whether this or that 🙂 But it's all good to give opinions as we all learn from one another

[nova violet]

indeed, just throwing out my POV, as said im not an financial adviser 🙂 you have to deside for yourself

[loud charm]

Big ty guys

[viral sonnet]

as far as spread and price/fees go... does it make more sense to buy ILV on binance or swap on sushi?

[loud charm]

last one here... how long until v2 maximum time

[cunning perch]

should be out withing January

[nova violet]

depends on the amount of $ you are spending 🙂

[loud charm]

ty mate

[cunning perch]

for many buying on a CEX makes it cheaper, but then if you wanna stake, you have to send it to your wallet and you'll have to pay 0.0035 worth of ETH for gas

[nova violet]

when i got in binance didnt have ILV, i had no choise, but depends on price on sushi compared to binance + gas, you have to calculate it, but my gues would be that its abit cheaper yes

do add, you can choose what price to buy at on binance since its going up and down, on sushi you you only have the option to buy at what price is set atm in the pool

[viral sonnet]

i only see the option to swap on sushi though, so i would still have to buy ETH somewhere and gas it over?

unless buy eth from metamask ?

[iron wave]

will staking be on eth-mainnet only again?

[jovial root]

I think your question is referring to when it goes to L2 (IMX).
That is still far off, and may be Staking V3

[autumn verge]

Has anyone estimated the $ per staked ILV that will be returned after the land sale?

[midnight crow]

Is the reason that the SLP token is encouraged by high yield farming APY to add liquidity? If so, at the end of yield farming what will be the incentive for holding SLP since revdis is only given on the ILV portion? Will there be no more need for ILV/ETH liquidity?

[autumn verge]

I think it was to bootstrap liquidity. It shouldn't be needed after the game launch and multiple exchanges also having listed ilv.

[midnight crow]

Ok. Thanks.

[honest field]

Any update on when Staking V2 will go live? I was going to start staking ILV for the first time but was told to hold off til V2

[midnight crow]

Not yet. We are waiting more or less patiently.

[honest field]

Got it. Are we thinking a few days or a few weeks as a guesstimate?

[midnight crow]

All that has been said unofficially is it will happen before the land sale and the land sale will probably happen mid January. So, given that, it would make sense it would be within a week and a half. But of course who knows.

[honest field]

Cool. Thanks

[midnight crow]

You're welcome!

[lunar marlin]

How exactly do we earn those fees for providing liquidity in sushi for example?

[nova violet]

Yes on sushi you can only swap, so you can swap from etherium to ilv or from ilv to etherium, on binance you can buy for euro, usdt etc and you Will save alot on gas fees using binance.

If you buy on binance or sushi remeber That you need etherium for gas. So you need to think about That and not spilt 50/50 but abit more etherium

The etherium you need extra depends on the gas price, as it goes up and down. Im not sure how mouch but ig you Are staking 50k worth or 1000$ worth the transaction fee + lockup fee Will be the same

[jovial root]

Someone once mentioned that the fees are already reflected in the APY

[lunar marlin]

But where exactly does the coins need to be allocated to receive those fees? Do they need to stay in wallet? In Sushi? It doesnt matter?

[jovial root]

This is example of GAS fees from someone yesterday

#🥩〕staking message

[tawdry quest]

hi may i ask, how much the gas fee if i stake now? worth 200usd only

[jovial root]

Gas is high at the moment. So prices may be double what is shown in the link above.

But $200.. might be better to wait for V2.
Or think about buying sILV

Not Financial Avice

[nova violet]

Its like sending a package with the Mail, the bigger the more expensive, staking is quite expensive. I dont recall mine but i think it was around 200$ just in fees in total. It Will Get better with v2. As they Compress the package so it wont be so expensive then. Etherium 2.0 Will solve this but ita not released yet. They hope for June 20/22 but its not 100%

[clear cape]

Wont be until 2023+, sharding helps gas fees

Not ethereum moving onto proof of stake

[nova violet]

Ow, i was thinking the merge would be including the sharding. Tanks for correcting me then sir 🙏🏻

[brisk surge]

The trading fees that sushi charges are simply added into the pool. You will never 'claim' these rewards. They just increase the value of your SLP token over time.

[lunar marlin]

Thanks Scoot

[brisk surge]

Sooo it is 100% that the switch to Immutable will be made eventually?

[brisk surge]

All the ingame markets and NFTs will be on imx 100%. As far as staking goes its likely but i wouldnt say guaranteed. My guess would be that staking will remain on ETH mainnet at least until the end of 2022.

[brisk surge]

Gotchya, okay THANKS!

[brisk surge]

steak

[gloomy gazelle]

https://tenor.com/view/steak-did-you-say-steak-say-steak-hungry-food-gif-5015606

[weak latch]

Question for the staking experts: if I stake some SLP at 400% apy for a year is that apy locked or will it decrease overtime? Im talking for what is locked already

[unique turtle]

In V2, will there be a way to increase your stake after the vesting period is done? My 2months is done, I’m withdrawing and re-entering for 1 year

[unique turtle]

Not locked, it will go down overtime based on other stakes and the gradual decrease of rewards

[weak latch]

Thanks!

[gloomy gazelle]

The apy is variable. If you want to know what you are actually earning today you need to use the calculator pinned in here. Or figure out a different way.

#🥩〕staking message

The apy the staking site shows right now is what your rewards would be in 12 months from today if none of the variables (token price, value locked staking pool) changed.

[weak latch]

Thanks to you too!

[rain fjord]

Is anyone having issues claiming ILV rewards from the SLP staking pool?

[gloomy gazelle]

The two transactions required can trip people up. Especially on mobile.

Be sure not to trust anyone DMing you claiming to be support or even looking like a mod.

[rain fjord]

Thanks for the reply. I did attempt to process both transactions and the ILV worked and the SLP continues to fail

[gloomy gazelle]

Hmm. What wallet?

[rain fjord]

I have been staking for a few months and never had an issue claiming. I am using Metamask

[gloomy gazelle]

Ok. So were the two transactions set to use the same exact gwei?

[rain fjord]

not sure. The way metamask is configured now, it is hard to tell. Will the difference in gwei mess it up?

[gloomy gazelle]

It can. What matters is that the two transactions be processed close together.

Same gwei basically ensures that.

[rain fjord]

also, my ILV claim worked but my SLP claim did not. Would I still need to process my SLP claim with the same GWEI as was used when I claimed from the ILV stake? I processed both the transactions together back to back at the same time and used the recommended MM settings so I am not sure why one failed and the other one succeeded.

[gloomy gazelle]

This can help set custom gwei. https://youtu.be/gsfJywNxpi4

[gloomy gazelle]

Yeah. The ILV claim goes first. And if the SLP claim doesn’t process soon after then the SLP claim will fail.

I could check etherscan to be sure what happened.

[rain fjord]

Any ideas on what to do now that one has failed and one has succeeded? Even when I try to process just the SLP it continues to fail

[gloomy gazelle]

You can’t do just the SLP rewards.

When you claim SLP rewards it makes you claim both pools.

[rain fjord]

Do I need to wait until I accumulate more ILV?

[gloomy gazelle]

V2 will fix that.

[gloomy gazelle]

Maybe. But I doubt that is the problem. If the rewards in ILV only pool are too low then the SLP claim would have processed. I think.

[rain fjord]

Ok, thanks for the help.

[gloomy gazelle]

Custom gwei is often a solution. But I’ve heard a few people having SLP claim issues recently. But I haven’t seen another reason.

[lyric creek]

I might not be caught up... Is there a date for the V2 staking migration or is it still in the works?

[gloomy gazelle]

Still waiting.

@errant kernel #🥩〕staking message this tool can feel complex but it’s worth using.

[fast goblet]

hey guys, i have about 6 ILV to claim from staking rewards and make a bit under 1 per week. Since I'm low on eth my plan was waiting for V2. Do you think I should wait a bit longer or claim now for more compunding? thx in advance

[gloomy gazelle]

Claiming now would mean you earn like $5 more dollars in ILV each day. That’s not much. I’d wait. But it’s definitely possible to get your money’s worth in a few weeks. Your call.

But probably you’d need to do claims to upgrade to v2 that would be annoyingly small.

[orchid thunder]

hey guys, i have rewards that I havent claim, but i want to stake more. if i stake will the rewards be restarted n gone?

[scenic crescent]

You will be forced to claim them, so nothing is lost you just have to pay the fees for claiming (dont claim it by yourself, you will be forced to do by stacking otherwise you have to do it twice)

[orchid thunder]

awesome, so if i stake more, the new reward will claim automatically ? if i want to stake my reward, i have to do a seperate tx?

and 1 more q, whats V2 that everyone is talking about?

[scenic crescent]

If you claim in Ilv it will be automatically staked for 1year
And yes it will claim automatically if u stack again

[scenic crescent]

V2 is a new staking contract/webpage where they will optimise some things like fees and how to claim, so your fees will be a bit lower

[orchid thunder]

okay, maybe ill wait for V2 is out, gas fee is like $50+ 😮

[proud sigil]

Hey guys, I'm really confused sorry to ask a question that's been asked before...

1. I have 1.5 SLP staked, 1 SLV reward unclaimed
2. Do I need to do anything to swap to V2 or will this happen automatically?

Thanks!

[loud charm]

If i stake now for 12 months (locked), can i upgrade it to V2 staking when it's released even if i have locked staked it for 12 months?

[proud sigil]

Hey guys I am getting instructions via DM on how to swap over toe V2, is this legit? Is there an official Illuvium guide on how to do this? I don't want to click on the wrong links.

[brisk surge]

Thats a scam. Never trust DMs

V2 staking isnt even availible yet.

[proud sigil]

This is the person who was telling me, FYI.

[ember ginkgo]

Report this in #🚨❗〕report-scammers and make sure to add the Discord ID

[strong wyvern]

Yo guys I’m in the SLP, and have experienced a few times when claiming rewards, that I’m charged the gas but the rewards stay in the pending rewards.. Just then went to claim 3 tokens, $75 gas paid, but tokens still in pending.. Am I missing something?

[jovial root]

Are you approving both transactions (from the SLP pool and also the ILV pool)? <-- must approve both

Are you doing recommended GAS fee, or doing custom? <-- I do recommended

[manic brook]

Has Deeraj's awesome calculator been updated? I was looking at the changed APY and curious how that would impact forecasts. I'd love to enter my numbers in again now, given new APY, timeframe, etc.

[strong wyvern]

Hmm I am but might be leaving too long between signatures getting distracted etc. Does it time out or is it $70 per transaction?

[jovial root]

From memory one transaction is $70, the other $95.

And yes they need to be done straight after each other ( like within a few seconds)

Claiming 1 on the web page should autoclaim both, and give you 2 transactions to confirm in Metamask

[hot lynx]

Zup 👀

Wow .. looks like 12 months agos chat 👀 help 🤣

[strong wyvern]

Legend thanks 🙏

[cyan sage]

hi guys, is there any approximate date for the v2 release? I'm waiting for it to start my staking

[atomic lagoon]

no official date yet. If you don't mind the gas fee for upgrading (might be around $100 - $150), then just stake, especially if you think the reward you get in these few days out weigh the gas fee. NFA

[cyan sage]

okay thanks!

[midnight belfry]

is v2 out yet?

[atomic lagoon]

not yet.

[midnight belfry]

is there also an updated calculator?

[warm knoll]

Well i had my doubt. Just did another SLP stake. This time i claimed as silv. Didn't had to claim the ILV pool reward first. Everything went in a single tx

[atomic lagoon]

I added to SLP on 19th Nov. Didn't have to claim the ILV pool even then.

[hot lynx]

$100 SLP not possible 🤣

[atomic lagoon]

$100 in gas fee.. not SLP.

[warm knoll]

Well pretty sure that when i was claiming as ILV when staking SLP. I had to claim both pool (slp + ilv) It's even written in the doc I think

[hot lynx]

SLP GAS is $250

[atomic lagoon]

yeah. may be because we claimed as sILV. I did claim mine as sILV too.

[radiant knoll]

Hey, I have been trying to stake ILV and paid the gas fee like 20 times now and they just wont go trough. Tried the slow, regular and fast option all at different prices

what am I doing wrong

[visual tulip]

Hi do i have to go to claim ilv rewards to stake them, or can I just leave them to auto compound

[brisk surge]

You have to claim the rewards for them to auto compound

If you wanted to add more to your stake of either ILV or ILV/ETH you would have to claim rewards first and then stake hope that helps!

[brisk surge]

Is your transaction saying out of gas?

[radiant knoll]

its just not doing anything, the stake button is "greyed" out and just stuck there.

[fierce lake]

What are the options for staking ILV at the moment? I noticed there is a discussion of V2...

[strong charm]

hey everyone, i staked 10 ilv at a 1.25 token weight. I expected to get an extra 2.5 ILV for vesting but i got much much less than expected. Is my understanding of the staking mechanics just wrong?

[brisk surge]

Have you tried restarting your browser, refreshing the website etc?

[jolly rain]

In a year.. you should stake for a year to get 2.5 ILV if the APY remains at the same level

[brisk surge]

No the mechanics are not wrong the APY changes as time goes on

[wind walrus]

APY drops every 2 weeks and token price also plays a part in total earnings.

[radiant knoll]

I used chrome instead of safari and it instantly went through.. lol

[orchid thunder]

so much scam, this dude is telling me to sign in their wallet

[scenic crescent]

It´s not me, copy the id and send it in the report-scam channel, never trust someone dm you

[scenic crescent]

For getting the Id you can rightclick and select copy ID after you activate this in your discord settings

[craggy cliff]

Hey folks, on the topic of impermanent loss...
"Impermanent loss happens when you provide liquidity to a liquidity pool, and the price of your deposited assets changes compared to when you deposited them. The bigger this change is, the more you are exposed to impermanent loss."

SO if the relative price ration of ETH / ILV changes over the next 12 months if staking in the sushi LP pool, then can someone explain how this could play out in a few different scenarios (also considering staking rewards currently around 350% dropping towards 300%)?

1. IMO most likely scenario ILV price experiences more % growth than ETH in 2022.
2. ETH experiences more % growth in 2022

How much is possible to lose to impermanent loss vs the benefits of weighted staking rewards (i.e. at WHAT point does the sushi LP staking pool become a risky investment)?

Just trying to understand better before making investment decisions. (possibly this has already been discussed so linking relevant posts is also great)

[small adder]

hi there i have staked some ilv on flexible if V2 comes out will i be able to change that into locked staking?

[gloomy gazelle]

You will need to withdraw the deposit and then stake again.

[fresh grail]

So for me anyway, my numbers play out like this. I have made 3.5 times my total ILV in the SLP since starting my staking in July. With the current ILV/ETH ratio I stand to lose 20% of my ILV in the SLP from IM, but will gain that back in ETH. So the rewards have far out weighed my IM.

[oak brook]

Will the next staking be higher APY than the previous one? I locked mine before about 4 months ago at APR 60% or so now is down to around 30%. Pls allow beta or alpha play for anyone with ILV tokens

[gloomy gazelle]

It won’t really be higher. There is always less ILV being distributed.

[craggy field]

V2 is just a different way of writing out the contracts and has no influence on the APR. Beta spots are given to people with the necessary skills and are not biased on people with tokens :) They want the glitches and bugs resolved as much as they can to increase the tokens' price more when the game comes out in march :)

[oak brook]

Yeah i wished i can see it just like how i tried sandbox alpha, actually selling alphapass is an idea for ILV to generate more money which cn be distributed back to ILV token holders too

[somber kettle]

Would it make sense to wait with staking if you haven't staked yet?

[fresh grail]

Depending on the amount.

[gloomy gazelle]

For like 4 ILV or less it probably makes sense to wait. Eth/ILV may be a different story.

I’d recommend lookin through the pinned comments. And using the tool shared by lelahel when you get to it.

!staking @muted cape

[woven ibex]

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

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

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

[gloomy gazelle]

This document can be used to calculate the different staking fees. Just make a copy and put the data in. https://docs.google.com/spreadsheets/d/1-yorrLEO7051B8ELI7eBtAOohYn8DME4peMPavxcUuw/edit?usp=sharing

[spring basalt]

I staked 1.07 ILV for 52 weeks in the core pool at 44%apy. I am just over 2 months in and only see 0.05 ILV in my rewards. I thought it would be more now

[echo rain]

So I locked my stake for only a few months and that time is up. How do I re lock my stake for a year to increase my earnings? Do I have to withdraw and then restake it? Will that cost gas fees or anything?

[echo rain]

It should be around .078 from my calculations

[gloomy gazelle]

The apy is variable. Did you lock the deposit for 12 months? Oh oops. Saw it.

[craggy field]

Yes i would also expect more to be there... did you claim your rewards in the meantime? Check the Vesting tab to see your current pending ILV rewards maybe you made a mistake by not locking your tokens. Also check your past transactions on etherscan, maybe you claimed it as sILV before? :)

[gloomy gazelle]

Yeah. Withdraw and stake again. You may want to wait until v2 launches to save gas fees.

[echo rain]

Okay, and in the meantime am I still earning rewards or no?

[gloomy gazelle]

You do keep earning.

[echo rain]

Ok sounds good. Thank you

[gloomy gazelle]

If you want to know more specifics about how much ILV you are earning you can use a copy of this sheet. #🥩〕staking message

[craggy cliff]

I found this article discussing impermanent loss with ILV that I hadn't seen yet. Should be helpful for others wanting to understand more: https://www.publish0x.com/ilvfi/what-the-dollar-and-is-impermanent-loss-and-why-do-i-care-il-xnxkekg

[acoustic obsidian]

Why i can't connect my metamask to illuvium staking?

Everytime i try to connect a wallet, i get a pop up from torus. I don't want that. I want metamask

[gloomy gazelle]

Is torus a different wallet you use?

You may need to turn that one off for a bit. Or use a different browser for metamask.

[acoustic obsidian]

I don't use torus

Is it possible for metamask not working on mobile?

[hollow dome]

Hello guys. Can I ask a question here about failed transactions on metamask with ETH?

[gloomy gazelle]

Hmm you need to use the metamask browser in the mobile app. But the mobile app can have some issues.

[gloomy gazelle]

Sure

[hollow dome]

Ok thanks. I transfered eth from trust wallet to metamask. Small amounts (75$ and 62$) in order to have enough ETH to stake my resting 0.2 LP tokens. I already had a small amount in eth (60$) on metamask. The transactions were successful. But as I've seen on etherescan immediately after the transactions metamask tried to do another transaction to illuvium even though I didn't initiate any further transaction to illuvium. On etherescan it says "Error in Txn: Reverted". Anyone know what that means? My balance in eth is smaller now before my 2 transactions.

[gloomy gazelle]

SLP pool tx can be tricky. There are usually 2 that need to be done. My guess is your first was a token use approval (that doesn’t really count as an interaction transaction) then the next would be an ILV pool claim. Then the next would be an SLP pool interaction of some kind. That one likely failed due to a delay between the two transactions. Setting custom gwei to be the same value on both transactions is important.

[hollow dome]

Thanks. I just don't understand why it tried to do transactions After i sent eth from trust wallet to metamask, which was successful. I didn't initiate any further transactions from my metamask wallet.

But anyway I guess my eth are lost now?

[gloomy gazelle]

Probably there were pending transactions

[hollow dome]

Ohhh 🥲 i didn't consider that.

[gloomy gazelle]

Metamask can line stuff up and then process it later.

Yeah it’s gone.

[hollow dome]

Okey dokey 😂 at least it wasn't thousands of dollars. Thanks dude for explanation.

[limber hearth]

so did you guys see that eth/bnb staking now ? Any thoughts, has anyone tried it? Went to the site and didn't see the option yet

[ember ginkgo]

There is no bnb staking for Illuvium, be careful you are not on a scam website

[gloomy gazelle]

That dm is a scam for sure.

[limber hearth]

hmm ok

weird lmao that is why i ask lmao

dumb question, do you know when your staking has ended if you have a locked stake ?

[ember ginkgo]

You can see how many days are left under the vesting tab

[limber hearth]

so if you see a - in the unlock then it is over ?

[gloomy gazelle]

i think so. You'll definitely see the option to withdraw if its unlocked

[acoustic obsidian]

How much % is now a locked stake?

[gloomy gazelle]

https://staking.illuvium.io/staking/core 31% and 343%

@elfin lily
If you stake your SLP tokens in the illuvium protocol the sushi website will not see them.

[elfin lily]

i see i see...so these are compounded automatically without me having the need to continuously claim

[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]

its manual claiming/compounding. But what happens even for the SLP rewards is that it gets put into the ILV only pool to vest after it gets claimed

[midnight dirge]

Whens v2 staking?

[ember ginkgo]

Should be this month

[midnight dirge]

Worth it to put a few k in slp now or wait?

[gloomy gazelle]

its hard to know. make a copy of this spreadsheet and input some data #🥩〕staking message

[midnight dirge]

Appreciate it!

[spice vortex]

Any update on when V2 will be coming?

[craggy cliff]

Ah, didn't know this part! So if we want to further invest into SLP pool then we need to buy seperate ILV

[ember ginkgo]

No official announcement yet but should be this month

[craggy cliff]

So if one's goal currently is to build up the largest stack of ILV possible over the next 12-24 months, then the route would be SLP pool > (claimed rewards go into ILV pool) > put more $ into ILV/ETH for SLP pool > rinse and repeat. Is that correct?

I suppose claiming silv to use as liquidity to buy ILV would be second option, but I don't know how those numbers would play out

[gloomy gazelle]

its pretty lossy

[craggy cliff]

seems like it would be

my goal would be to pile up ILV before the game becomes too popular 😉

[gloomy gazelle]

It's hard to know what the best play is at this point. Maybe revdis is gonna go bonkers. then SLP might have you missing out on some stuff. But 300+% should really make it work ok

[craggy cliff]

Maybe only on game launch would I claim a small sILV reward to start out to play

[craggy cliff]

I'm thinking in 12 months we'll have more data to assess this by, so by the time my tokens would come unlocked I would decide upon staking SLP (for maybe 200-250% at that point) or just throw it all into ILV pool

[craggy cliff]

If I understand correctly 50% of staked tokens from SLP (I.e. ILV, NOT ETH) and ILV tokens gained and auto-staked into ILV pool will still gain revdis, correct?

[craggy cliff]

thanks ya helpful pelican 🤘

[west aurora]

Based on this spreadsheet, land is not really worth investing in it, am i right? Also it seems that T3/T4 land in any case have significantly lower ROI than T1/T2 land. Did i read this correctly?

Is there any financial reason to invest into land instead of investing into the LP Staking ?

[brisk surge]

Bored apes are worth hundreds of thousands and offer 0 ROI. So in a rational market I would agree that staking is objectively better. But who knows what people will be willing to pay to have Illuvium land, It could be a crazy amount.

[neon heath]

Hi guys, is staking 2.0 already available?

I'm still on version 1 so

[brisk surge]

No, they are still waiting for the audits on the contracts to be finished. I think the team is pretty hopeful that it will be ready this month.

[west aurora]

Not yet.

[neon heath]

ok thanks for letting me know!

[jovial root]

That valuation is solely based on the expected Fuel value ROI.
However it does not factor in Blueprints, or future use value.
It is expected that Illuvium Zero will continue to be developed and expanded on over the next 2-3 years

[west aurora]

Thank you. As fuel imho can not be much more expensive then currently estimated and might even be cheaper than the current estimation, the - luck based - value of land via blueprints etc. would have to be significant in order to be competitive with LP Staking and RevDis.

[jovial root]

Head to #🎮〕illuvium-zero to find more info regarding the land, and uses etc.

Also search any post from JohnnyA

[gloomy gazelle]

The “passive” roi for land holders will not be the reason to invest in it. ILV is better for that. Land nfts are for those wanting to play the #🎮〕illuvium-zero game. And for those that want that status of owning illuvium land.

[west aurora]

Very helpful. Thank you for clarifying!

[weak latch]

Is it possible to buy Silv right away? Im staking right now , but i wont have enought Silv for a land before the sale. Is it possible to buy some in order to compensate the ammount missing?

[jovial root]

Yes. Go to Uniswap.

Use the sILV token address from the pinned msgs in #💰〕token .

I have personally bought a LOT via this method

[weak latch]

ah superb, thank you

[craggy cliff]

Hey folks, can anyone tell me if the rewards of staking SLP pool is affected by the market price of SLP? i.e. if the SLP token plummets or increases for some reason, does this change the staking rewards or risk?

[gloomy gazelle]

Not really. The apy will change based on the usd value of the SLP token deposits versus the ILV token rewards. But the amount of ILV being distributed is not effected by price.

[spice shell]

Anyway to earn ILV before game, i wanna staking some but im broke now 😒

[craggy cliff]

only earnable by trading on exchange for money 😉

[gloomy gazelle]

Nope. Well not really.

[jovial root]

Uber Driver?
ONLYFANS?
Busking on the street?
Streaming yourself eating spicy noodles?

[spice shell]

@jovial root i can only sell my RoK acc 😂

[plucky galleon]

do you guys prefer to stake on ILV or Sushi LP Pool? and why you do it over the other?

[jovial root]

Sushipool gives 350% APY
ILV gives 36%

However you need to have equal value of ILV and ETH to use the Sushi liquidity pool, a d it can be a bit more of a complex staking process.

But well worth it if you are investing a large amount.

Just be mindful of GAS fees

#🥩〕staking message

[jovial root]

Also definitely worth watching staking videos in #🎨〕community-content to help understand more about it

[plucky galleon]

im broke af i can only stake 1000usd max xD

[jovial root]

V2 staking should reduce the GAS fees and make it more worthwhile to stake in the SLP pool. If you are happy to wait for that (expected later this month)

Also..
Not Financial advice... but, it may be worth buying sILV now, and then selling it just before or during Land Auction when price of sILV is expected to rise closer to ILV price... which may then give you more ILV to stake.

High Risk of course

[plucky galleon]

yeah i already bought silv around 400$ ,most my money is in there, do you think v2 will come before land sale?

[jovial root]

Originally it was the plan... but I think Land may come before it now.
As V2 staking is still in Audit (external factor)... whereas Land sale is just needing the Illuvidex to be finished (internal factor)

[plucky galleon]

i never staked any token before thats why i wanna get my feet on these waters, im confident ILV price will moon in the future so i tought i should at least put 1000usd on there and forget abt it

[spice shell]

When is V2?

[jovial root]

Good thinking.
In that case, the ILV pool is the most simple.
But you can't really forget it, as you need to upgrade each time the Staking protocol improves. V2, V3 etc

[craggy cliff]

sometime in Jan is recent estimate

[plucky galleon]

i see, i'll wait for v2 then to make my decision, ny then i hope to have some left overs from land sale lol

[gloomy gazelle]

Dang you need to check the apy again. The pools are seeing some action it seems.

[jovial root]

Dammit... I had just trained myself to not check it daily!!
Haha will see it now

[plucky galleon]

31% / 344% , i'm a noob so does it go up in bull crypto market and down in bear market? or what exactly?

what makes the APY increase and decrease ?

[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 your percentage of the pool) WILL change almost constantly. Therefore the APY is variable.

[plucky galleon]

dont mind my dumb questions lol ,also in what currency do u get your profits if you stake on the SLP pool?

[jovial root]

Once you take the Sushiswap SLP and stake it in the Illuvium sushipool, your rewards will be the same "currency" as the normal ILV pool
Claimable as either ILV (1 yr unlock) or sILV (available immediately)

[plucky galleon]

thanx for your help guys, do you recommend a specific YouTube channel that i can find good staking content on?

[jovial root]

Go to #🎨〕community-content and check pinned msgs. They are very very helpful there

[craggy cliff]

https://tenor.com/view/idk-mind-blown-gif-13646767

[gloomy gazelle]

That’s just the SLP version.

ILV pool version is a bit simpler.

[long flume]

is the v2 switch happening soon?

[craggy cliff]

It will be sooner than later (probably within 1-2 weeks)

[hot lynx]

Saw the post is V2 getting launched now 👀

When can we unstake sILV I need to

[brisk surge]

Hey I've heard about v2 staking contracts. Im staking ilv in the first ever staking pool and it's locked for some months. Do I need to do anything?

[abstract comet]

what? sILV isn't staked

[jovial root]

Check pinned msgs regarding V2 upgrade

That is SCAM!!

ILLUVIUM.IO is the only official website

[brisk surge]

Is v2 out yet?

[jovial root]

Not yet. A few weeks still. It's in middle of External Security Audit still

[brisk surge]

Oh okay thanks!

[hot lynx]

Thats a Dec 7th msg 🤣

[weak latch]

Isnt Silv supposed to be in game only? How come we can buy and sell some?

[jovial root]

Same process of Upgrade and Migrate.

Other than that, we still waiting for it to come back from External audit.

And possibly the V2 audit was what found the V1 vulnerability just announced

[left wharf]

secondary market:
You won the token so you can open a liquidity pool.

People choose to trade on that pool. So it's the free market.

[jovial root]

Everything on the blockchain can be bought and sold via secondary markets.

People are selling it now to unlock Liquidity, as they Aped in too hard at the start

[dusk sundial]

AKA giving bulls a discount 🤓

[hot lynx]

The site is down

[jovial root]

Did you read the announcement from Kieran just now?

[modern comet]

when v2 ?

[gloomy gazelle]

It will happen soon. Check #📣〕announcements

[gloomy gazelle]

https://tenor.com/view/all-of-this-pointing-up-there-see-this-gif-14720503

[modern comet]

https://tenor.com/view/thank-you-thanks-hey-bro-gif-23739070

[gritty canopy]

What is this means from the announcement? "the eDAO has had to put a temporary pause on $sILV minting"

[gloomy gazelle]

Sounds like claiming rewards as sILV is not an option at the moment.

!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.

[gritty canopy]

is it meaning the existing v1 stopped claiming sILV and we need to transit to v2 later to claim sILV safely??

[jovial root]

My understanding is that it is just a temporary halt. And will resume shortly once it is patched

[pale shore]

Would anyone be able to assist me. I lost my metamask key phrase which had Ilv staked obviously. Its broken my soul im an idiot etc.... anyway hoping there is a chance either 1) staking 2.0 gives me any hope or 2) there is someone who can give me my vault info from original stake. I can crack it with that info i have all the other details. I can also prove its my wallet

[turbid canyon]

Liquidity pools are higher risk and stakers experience something called impermanent losses. Hence the high APY to incentivize staking for liquidity. Also if either asset goes down, the ratio of crypto needs to change to balance out the pool (arbitrage traders come in to balance the pool). Therefore you may get more of one and less of the other one as price of one goes up and the other goes down. The best case scenario is if both go up at the same time at the same ratio.

[hot lynx]

Yes I did thus my question remains . What time frame sILV claiming

[pale shore]

Anyone? Or can u direct me to the best person?

[nimble tendon]

What do you mean by lost? Do you still have the wallet it was linked to? Trezor, Ledger etc?

[pale shore]

No mate my google chrome extension for metamask died wasnt on a external wallet

[jovial root]

I personally would assume that sILV claiming will continue tomorrow or the next

[jovial root]

Pretty sure you screwed then.
Seed phrase is the only thing that can bring it back.

Devs won't have that info etc

[nimble tendon]

You can add metamask again with your seed phrase, you don't need the password you can set a new password. As long as you have access to your private key ( your seed phrase 12 words)

[hot lynx]

Ok please don't suggest reading a pin from 3 weeks ago. I am an OG in ILV since $85 so please be respectful
If I ask it's sensible and responsible

[pale shore]

Its the seed phrase i dont have

Thats why im asking if i can get my vault info i can decrypt it

[autumn cloak]

The way I read the announcement, is we won’t be able to claim sILV again until V2 is launched. As far as time frame for that not sure, but hopefully in the next couple of weeks. We at least know it should be prior to the end of January

[jovial root]

And have some respect that I took the time to try and answer your question.
I am just a community member the same as anyone else here.
Regardless of what you paid or I paid for the token.
The difference is that I have made the effort to try and understand and research... you made the effort of just asking and expecting the exact answer...

[nimble tendon]

Not sure what you mean by vault, but the only one that can pull your tokens out of the contract is the one with the private key to approve it. Seed phrase is essential if you want to reconnect your wallet. Sorry, to bear bad news. Must be some way you can find it?

[hot lynx]

If you don't know ... Dont reply

[hot lynx]

Thank you I had planned to sell some sILV today . So I could buy some more ILV
Thanks for your more informed reply 🙏🏻

[pale shore]

When i stake in the first place though doesnt the transaction have my wallet info with it. If i havd my info i can decrypt and get words back

[craggy cliff]

you can still sell sILV, just not claim it (seemingly until v2 launch according to new #📣〕announcements )

[jovial root]

The only people that actually "knows" are the devs themselves.
And they will announce it.

Anything else is community speculation.

[nimble tendon]

Other option is to try and repair your metamask/chrome somehow. Maybe you can get the config files with your private key in the metamask folders and copy them to a new computer

[autumn cloak]

It has your wallet info as far as the address, but the team doesn’t store the recovery words; those lie with you and only you

[nimble tendon]

If the transaction had your wallet key, then anyone could hack it and steal it. Private key is private. Transactions only have public key which doesn't authorise anything. If your seed is truly gone, try and repair what you have and then move the coins

[pale shore]

Yeah i understand what u are saying i have spent a few months trying to find a solution. I dont expect them to have the words. Metamask has a decryptor tool that u can load your metamask vault info into and give your password then u can get your words back. I think the vault info is provided when signing transactions.

[hot lynx]

Thx mate I need to claim it to sell it 👍🏻 appreciate the clarity thank you

[nimble tendon]

That sounds like a scam to me, look at it carefully.

[craggy cliff]

You should still be able to claim BEFORE land sale (i.e. when the price is still good), so it's likely just a temporary inconvenience as long as you're not in dire need of the funds. At least that's how I interpret the announcement. It seems like the NEED to release V2 staking BEFORE landsale to make this happen (unles there is some patch to V1)

[hot lynx]

I had a large SLP sILV to claim and my plan was right now 🤣 Np it was a shock and that's my personal experience. Thanks for your support 🙏🏻

[craggy cliff]

https://tenor.com/view/darn-it-shoot-shucks-dang-gosh-gif-16474715

[nimble tendon]

Just looked it up. The vault info is on your computer. https://metamask.zendesk.com/hc/en-us/articles/360018766351-How-to-use-the-Vault-Decryptor-with-the-MetaMask-Vault-Data
You can't get that from ILV contracts.

[craggy cliff]

clever find. Hope that helps him!

[pale shore]

Im thankful for the help but yeah that doesnt unfortunately. I had to reinstall the extension which is what caused me to find that exact site. I thought when u signed any trans the receiver on the other side might have that info

One of the other things im doing is using data recovery to try get it

[nimble tendon]

What about a PC backup? Also have you tried Microsoft Windows system restore?

[pale shore]

System restore is what caused the problem. I tried to go back a day to before metamask had issues and it corrupted it

[nimble tendon]

Sounds like you got a big issue to deal with. Keep all those backups at different points in case you find another way.

[pale shore]

One good thing is i can see my wallet on etherscan and its all still there just untouchable

[nimble tendon]

Not really, if it's not accessible it won't help to see it.. If you ever added the same metamask to another browser or another pc then that would work but you probably already thought of that.

[pale shore]

Truth be told the actual value of the wallet went from around 200 bucks to 15k or so which is why i was so flippant about the dang words

[nimble tendon]

Yeah, like the guy who has bitcoin on a hard disk in the rubbish dump that used to be worth nothing now worth millions.. Wants to dig it up but not allowed

[craggy cliff]

confirmed by Kieran in general chat: "That is correct. Everyone will have ample time to claim their sILV prior to any sales we run. i.e Land Sale or Illuvitars"

[craggy oasis]

Just found out about this project. Going to stake about .4 to get rewards to I need a min of 12 months?

Or they give them out every 12 months. Could I do it for 8 weeks and earn more tokens to stake longer ?

[verbal heron]

I'd recommend two tokens minimum before Staking sir, so like $2k
Cause you gotta think about the deposit gas, and the claiming gas and the withdrawal gas

[nimble tendon]

If it's less than a whole ILV, beware if the gas fees being a large percentage

[verbal heron]

Stoked you're here @craggy oasis , but def it's more worth it the more volume you have

[craggy oasis]

Gotcha so I bought 500$ worth. I’ll just add more ILV every week

[brisk surge]

have a look into the SLP pool, much higher APY %

[craggy oasis]

Because gas is crazy costing me a lot to stake glad I didn’t do it yet

[craggy oasis]

I saw that but I’d have to match 2k ilv and eth correct

Or could I go in cheaper with SLP and it would be something I could do now

[brisk surge]

yea but could do 1k ilv and 1k eth, would wait until staking v2 tho cos you'll save on gas

[autumn cloak]

Sure. Post it here and we can answer it best we can🙂

[craggy oasis]

Ok so just keep buying ILV till I have enough for 1 and match that in eth

[brisk surge]

yes, you can go to sushipool, into the liquidity tab and see how much eth you'll need, for 1 ILV, you will need 0.27eth roughly + some eth for the gas fees

imo if you're planning to lock for 12 months, SLP is the best choice just because of the APY, rewards are insane

[paper shale]

Can anyone here give me webhook permissions so i can follow another server?

[autumn cloak]

Nothing needs to be done with rewards claims so you are good there. And as far as moving wallets, it will only be possible once the vest is unlocked

[craggy oasis]

Ok I still have my 500$ in ilv

[wispy sandal]

So when staking v2 launches, will I have to pay a gas fee to unstake and restake?!

[autumn cloak]

Yes. Migration is for unlocked stakes. Upgrading is what you can do with your locked stakes

[craggy oasis]

Thought I spent some approving staking but that was just gas lol

I better get to 1k before ilv gets to high lol

[gloomy gazelle]

!lp @fallow leaf

[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

[fallow leaf]

Hey

[autumn cloak]

Yes. You will have to if you want to continue to receive yield. But you only have to upgrade the core pools and you only have to do it once for each pool. So for example, say you have 5 separate core ILV stakes, 2 separate SLP stakes, and 35 pending reward vests. You would upgrade once for the SLP pool and once for the ILV pool. Nothing needs to happen with the rewards

[gloomy gazelle]

!staking check The two bot responses.

[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

[fallow leaf]

Thank u! I wasted last time 300 USDT on how it works and I failed…

[autumn cloak]

Happy to help🙂

[gloomy gazelle]

Yeah I’ve wasted about that much on failed tx

[fallow leaf]

It’s so sad… my heart hurts…

[gloomy gazelle]

Remember don’t trust any DMs. They may look like mods or support. But they aren’t.

[fallow leaf]

Thank u brother! I bless u!

[gloomy gazelle]

No problem friend.

[craggy oasis]

Just buy some ILV little at a time for now I would say

[urban elk]

When will $ilv go up?

[jovial root]

In 13 minutes

[urban elk]

😂

[gloomy gazelle]

https://tenor.com/view/chris-farley-running-lets-do-this-excited-its-time-to-go-gif-15610590

[simple stirrup]

Hey illuvials

Do we know what the issue was with staking? Were the main staking contracts compromised? If so, do we know the details.

[autumn cloak]

Just some vulnerability they found; they said our funds were not compromised and are still safe

[simple stirrup]

But claiming is disabled? Wondering if anyone has any details

[autumn cloak]

Just the claiming of sILV. We don’t really need the specific details, just know it had been handled and will be fixed in Staking V2

[gentle fox]

Likely a redundant question; but is V2 close? I’m looking to stake .5 SLP and am thinking I should wait.

[jovial root]

Very soon

[midnight crow]

"Shortly"

[gentle fox]

I think I’ll wait to avoid the 4 gas fees at this point.

[nimble kindle]

so V2 is not out yet?

i thought that it was

[wide zinc]

Waiting for V2 to stake, but I have a question now that might persist. On the Core Pools page, in the ILV staking option I can see my balance of ILV and allowed to stake. On the Sushi LP option it's not showing my balance of ILV (showing as 0). What have I missed here please?

[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

[broken aspen]

Is there a problem with withdrawing from SLP pool atm? Keep getting an error saying cannot estimate gas

[gloomy gazelle]

Yeah. They are working on a fix.

[broken aspen]

Ahh ok, was that the latest announcement issue or something different?

[civic mango]

999

[gloomy gazelle]

Yes it’s related. The solution stopped the loophole but the solution broke SLP staking transactions. But it’s gonna be figured out.

[gloomy gazelle]

!welcome

[woven ibex]

Welcome! Wondering where to get started and learn more? The #791148036935516161 section has all the information you need. From a brief overview to links that lead to highly detailed information. Also, be sure to check out these channels in the discord to stay up to date: #✍〕rules #📣〕announcements #❓〕faq #🚰〕leaks

[broken aspen]

All good thanks mate!! Just trying to help a friend out and hit the error haha

[gloomy gazelle]

Yeah be on the lookout for #📣〕announcements

[shrewd viper]

Hello, my english isnt so Good. Can someone explain what revdistrubition is?

[visual tulip]

Hi I've already staked some SLP a week ago. I'm trying to add to that pool after converting more slp on sushi. Though it's not letting me

Can you only stake once?

Or am i doing something wrong

[final steppe]

Some info below! But let us know if you have further questions.

[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.

[final steppe]

Also, do you speak another language? If so, you can scroll down on the channel list to the language communities at the bottom! Perhaps there’s a channel for a language you might be more familiar with 🙂

[jovial root]

Can stake multiple times.
There is currently a problem they are fixing with it

[shrewd viper]

Thank you guys 🙂

[visual tulip]

Ok cool. Pls let us know when fixed, hopefully whilst gas is low!

[final steppe]

You can see the latest announcement here which explains the reason for pausing the SLP claims process: #📣〕announcements message

The team is working to fix this issue ASAP so just stay tuned for an update which will be posted in the #📣〕announcements channel 👍

[fierce lotus]

Why would you stake 0.24ILV with these gas prices?

[fresh grail]

Possible they are running this on a test net

[unique turtle]

If ILV = GAS it’s worth it

From a perfect stand point

[fierce lotus]

😃 no

[lime garden]

Do you get rev dis on the ILV you have in the Sushi LP or rev dis just for ILV pool?

[gentle pumice]

Yes, but only the ILV part will count for revdis (the ETH amount is ignored)

[lime garden]

Ahh okay cool

Thank you

[hot lynx]

Hi any ETA ⏳on the fix of sILV withdrawal @median canyon thank you in advance 👍🏻

[brisk surge]

for the ilv-eth, you get rewarded in ILV for the APY right?

[cyan rampart]

You get Rewards for staking in either pool. Rewards can be claimed as ILV or sILV, your choice.

If I had 3 pending Rewards, that could be 3 ILV or 3 sILV. You can't currently split reward claims between ILV and sILV, so pick carefully 🙂

[brisk surge]

thanks

[royal wind]

Would 1ILV/0.28ETH be a decent stake or isnt it worth it?

[hidden fiber]

With the current problem on staking, did you guys withdraw or stop your staking? Or we don’t have to do anything?

[ember ginkgo]

You don't have to do anything

[hidden fiber]

I mean, just leave it still staked. I am staking my ILV for awhile now . Just saw that there is a problem and being fixed

[hidden fiber]

Thanks

[arctic pawn]

hey guys are you staking ILV? can you explain how to and what are you earning?

[hot lynx]

No one is here

[ember ginkgo]

I don’t know who that is but I’m here

[hot lynx]

Great can we get an ETA

1 day 2 days this month next month ? sILV claiming fixed

[ember ginkgo]

Well since I am not the one fixing this, I can’t give you this information

[hot lynx]

Ok no one is here

That can provide an answer to this #🥩〕staking question

[ember ginkgo]

#📣〕announcements message

[tulip folio]

Would this sILV minting pause affect anything else? I have some SLP I'm trying to stake for ILV, no sILV involved. Tried staking different amounts including no decimal places and same issue. Here's important bits of error.
cannot estimate gas; transaction may fail or may require manual gas limit
execution reverted: insufficient privileges (ROLE_TOKEN_CREATOR required)
code=UNPREDICTABLE_GAS_LIMIT

Illuvium staking site is giving me the error in a popup. It never makes it to Metamask

[somber ember]

guys

yesterday I bought tokens, I see differents comment, so you suggest to not staking nothing actually, right?

[cunning perch]

if it is small, it's better to wait gfor V2

Also watch out for DMs. They are all scams

[arctic pawn]

does it work for u staking in the website? i have permanent loading

[cunning perch]

not loading might an update issue from your end. I checked and everything is good.

[tulip folio]

Any idea on the errors I posted up above that I get when trying to submit staking? I've staked multiple times before so this is a new issue.

[cunning perch]

This is an SLP issue mostly deal with sILV rewards. But This has been brought up to teams attention.

[tulip folio]

OK thank you.

[open saddle]

Hi everyone, im very new to this and i just need a little guidance please
i have read V2 is coming out for staking, should i wait for this to happen?
i want to stake my tokens which i have not bought yet but not sure if i should wait

any help would be awesome
Thank u

[cunning perch]

you can buy and hold (NFA) and if your tokens are a few, you can wait for V2 (also NFA)

[open saddle]

ok cool, so if i buy tokens now, and i stake them now there wont be any issues later on when V2 comes ?

[tardy temple]

What is the APY?

[cunning perch]

you will have to upgrade them then if you stake now.

[cunning perch]

30 something and 300 something. you can connect your wallet and see the details

[tardy temple]

Okay thanks!

[open saddle]

ok thanks - im guessing that wont be a complicated issue as a lot of people probably have to do that anyways

[cunning perch]

yep. def.

[open saddle]

thank you 🙂
can i bug you later if i have more questions?
this stuff confuses me....

i am following tons of YouTube videos that people have made and its starting to make sense 🙂

[cunning perch]

sure no worries. ping me and if I was around I'll answer. make sure you ping ME not scammers around using my name 🙂

@teal maple

like this guy. he is an imposter

[open saddle]

oh wow :/ ok ill make sure to find you in the chat first
scammers man.... wont lie to you, im in Bored Bunnies at the moment and im whitelisted and was so excited to mint today then BOOM everyone now freaking out its a rug pull....

[cunning perch]

you can find me in the Mod list in members on the right 👉 (that is if I was online which I mostly am)

yep. welcome to crypto 🙂

[open saddle]

thanks again 🙂
like i said so new to this and to avoid asking the obvious questions, let me do some research and figure some stuff out myself

[gusty chasm]

Is it ok to do LPing and staking now? or need to wait for a fix first?

[cunning perch]

I'd recommend waiting for V2 if your stake is small. Also not claiming anything until announcement from the team.

[arctic pawn]

Hey guys what’s the difference between ILV and SUSHI LP stake?

[arctic pawn]

What is V2?

[cunning perch]

[cunning perch]

!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

[cyan rampart]

ILV only = Lower APY, no risk of Impermanent Loss. SLP = ILV + ETH (50/50 by value), higher APY, risk of IL.

[hidden comet]

Any medium articles about V2 staking?

[cunning perch]

[halcyon timber]

if locked for 1 year, how to upgrade to V2. It's not showing in the pin

[grand condor]

hey Arash, is there any news on when V2 will be done?

[cunning perch]

hey. Here #💰〕token message

[timber cradle]

Are we sure the staking contracts were not exploited?

[cunning perch]

you just click upgrade and pay the gas, There will be a HOW-TOI released before/with that

[cunning perch]

yes. Look at is as a game. you play and might see a glitch. you restart and it's gone. The team saw the glitch and now is taking care of it. They will provide options shortly

[hearty vine]

I’m trying to log my MetaMask wallet to illuvium and it doesn’t seem to work…

[timber cradle]

Well I'm reading the announcement and it says "no funds have been compromised."

Let's say someone was able to deploy copies of the staking smart contracts and mint sILV to dump on the unofficial pool.

Would that be considered "no funds compromised"? Technically no one in the official pools lost money directly

[hidden comet]

When is v2 staking going live? This month?

[atomic lagoon]

no confirmed date yet, but should be very soon... check latest post on #📰〕governance-news

[gentle pumice]

@steady trellis Hi, I think I have found a small bug inside your ILV calculator 8.3 , it's about the RevDis: inside the "Advanced Dashboard" sheet , in the table with all the different claiming scenarios when calculating the total tokens to get the predicted revdis, the ILVs from the SLPs are counted two times. For example in the "claiming every 8 ILV " scenario, inside "Monthly Rev Dis" cell the formula is :=(O12+($D$9*$G$23))$G$31 , where "$D$9$G$23" calculates the ILVs you own within your SLPs. The problem is that the cell O12 already counts these ILVs, hence the ILV is doubled.
i'm missing something or there's an error ?

[steady trellis]

🤔 will Check when I wake up, 1:30am for me so won’t open my laptop 😂

[gentle pumice]

oh sorry 😄 , good night

[cunning perch]

Not possible cuz there wasn't a person (hacker) involved and sILV minting is paused for sure so no one can mint it any way. In this case there was just a glitch which is fixed in V2

[hot lynx]

SIlv burns ILV that's the output 1:1 everytime

[hot lynx]

No one here
will provide a date to that #🥩〕staking question 🤕

[timber cradle]

Told ya

[quaint raptor]

Does the announcement mean to not claim sILV rewards or to not buy existing sILV?

[cyan rampart]

sILV claims have been locked for a short while now anyway, and still are. Definitely don't buy or sell sILV right now either.

[calm inlet]

At the end of November, I entered the Sushi-Lp. My tokens will be unlocked in 4 days. What should I do?

So i'll not be affected by the fraud? I mean, my tokens are legit?

Sorry about my question. I joined the Discord group a few minutes ago.

Ok, thanks a lot for your help.

[cunning perch]

I don't know the second token. what's that? 🙂

[hot lynx]

sILV

[cunning perch]

Doesn't exist any more 🙂 I mean it exists. it's just worthless and 0

[hot lynx]

So how do we buy land.

[cunning perch]

with the new sILV you get if you hadn't traded it after the announcement and the ones you can claim through V2.

[hot lynx]

I am trying to claim still locked 2 days

[cunning perch]

for now don't claim sILV. Just be patient and claim when V2 is out

#💬〕general message

and yes no one can stake sILV

it's worthless. just ignore it

[hot lynx]

Ok I will delete it

[keen burrow]

so all the silv holders will get silv2?

[cunning perch]

delete what? the pic? ok 😄 I though you wanted to delete your wallet haha

[cunning perch]

the ones that have had it before the announcement, yes. Not sILV2 though. the new sILV on a new address I guess. we'll see how they send it

[hot lynx]

Good to have your sense of humour back in the channel mate 👍🏻

[cunning perch]

🙂

[keen burrow]

so I guess we will get a announcement for all the informations that we get back the new sILV?

[cunning perch]

yes don't worry. 🙂

[keen burrow]

thx 🙂

[brisk surge]

Hardly anyone is even pulling their flex stakes right now. Illuvium investors have diamond hands.

[drifting elbow]

is v2 staking out?

[gloomy gazelle]

Not yet.

[brisk surge]

Damn. People used to laugh at me for not staking silv

[autumn cloak]

You can’t stake sILV……..?

[tender crest]

Just reading this. So I have ILV staked, ILV/ETH staked, and sILV just hanging out awaiting the land sale. Are all three affected? I’m afraid to open the illuvium dashboard to see…

[atomic lagoon]

all safe. your sILV be changed to v2 sILV when v2 is Live. That's all.

[tender crest]

Word!

[sterile grove]

I am unable to claim my ILV rewards. it says cannot estimate gas and transaction may fail. I have sufficient funds in my wallet for gas fees. Is it disabled for now too?

[visual tulip]

It's staking still down?

[halcyon timber]

where's the upgrade button, I'm not seeing it. Locked for 1 year

nvm

[rugged chasm]

#❓❗〕community-help message

[rugged chasm]

Same problem here. I got a response about it in #❓❗〕community-help .

[robust knoll]

Is the V2 timeline affected by all these recent issues? i kept putting off staking due to it coming out soon but if its gona be delayed to feb then i will just stake now

[naive leaf]

hi guys. can someone please help. i wanted to stake some ilv. But the gas fees $200 is kinda a bummer at the moment for small amount of ilv. any guidance for first time stakers?

i heard there's a staking v2 coming out. is there more info somewhere about when or what that is?

[grave sky]

Hey y'all. Does anyone know the best place to stake DOT with a low lockup period (none would be preferable) ?

[severe igloo]

Bro it s Illuvium channel Discuss only staking of Illuvium tokens 😊
But to answer : i dont know but there are some staking specialized Platforms like YouHodler or Nexo that might have what you want but DYOR before, not financial advice 👀 onyl an Illuvium Ranger's One

[wary flame]

i just bought some ILV should i stake it in the core pool to earn sILV??

[sterile grove]

ok thanks for your help

[wary flame]

i dont think i should

[alpine chasm]

when will v2 live

[atomic lagoon]

No official date yet. Please wait for #📣〕announcements

[gloomy gazelle]

Don’t trust people that dm you claiming to be support. Or people that dm and recommend using your seed phrase to verify for a celo wallet or something. Or look like a mod. They are all scammers.

[gloomy gazelle]

Probably should wait until v2. Unless you have like 25+ ILV.

[gloomy gazelle]

#795846467084484619 is the proper channel to ask about other token opportunities

[gloomy gazelle]

Hard to know at this point.

[gloomy gazelle]

It’s not staking in general that’s down. It’s claiming sILV and interactions with SLP contract.

[tiny dawn]

https://www.illuvium.io/staking-faq

I recently noticed this is a new tab on the site could be helpful for anyone still lost and or confused about is staking. And how does it benefit me the user/customer. Something smart to read while we wait for this whole thing to cool off and the admins to figure out.

[deep pecan]

Is claiming rewards on staking not working ?

[gloomy gazelle]

Most interactions with SLP pool are not working. Any claim in sILV is not working. It all has to do with the solution to the sILV exploit.

[deep pecan]

ok mate ty i was trying to claim ILV but it just says something about the transaction cost

[grave sky]

Cheers for the notice mate! My bad, I'll keep it ILV focused for this discord 💪

[grave sky]

Cheers mate. I appreciate the help

[delicate plaza]

I imagine this might delay the V2 release also? Hoping it's all sorted so the ILV team can get some sleep and get back to cracking the game of the year

[deep pecan]

anyone else getting this error from claiming from sushi pool Claim 5.21 ILV, staking pool is fine

cannot estimate gas; transaction may fail or may require manual gas limit (error={"code":-32603,"message":"execution reverted: insufficient privileges (ROLE_TOKEN_CREATOR required)","data":{"originalError":

[gloomy gazelle]

Like I said most interactions with the sushi pool don’t work.

All that can be done is to deposit an initial SLP stake. All other interactions involve the sILV token in some way. And therefore don’t work right now.

[past falcon]

Yep, same here. Just got this error message:

[hot lynx]

Hi Peclican good to see you
I guess the major silent question is when ?
The not knowing any timeline or guide is making people nervous and anxious.
And people pointing to an announcement that saying ( we're working on it ) just makes people feel more nervous and anxious. As we roll into Day 3 ..
A date and a time gives people comfort 💜

NoOne here is saying security is not important
And no one is saying don't fix it.

However as staked token holders we get comfort with transparent timelines 💜

This really is for the team not just you . @median canyon

[robust knoll]

Indeed I was waiting for staking V2 which seems like it was going to come in this or early next week, but with all these issues, the timeline is so uncertain and would be good to have assurance from the team regarding timelines (or if there is a delay just let us know so we can have more information whether to stake now or not)

[jovial root]

I Remember you saying- If someone doesn't know they shouldn't reply...

If they give a time, and it takes longer people will say "but you told us this date"

So I am pretty sure the answer is;
"it will take as long as it takes to get it fixed correctly, and not a moment longer."

[hot lynx]

Oh a troll

[clear cloak]

Should I wait to stake more in SLP? Or is it just claiming that is having issues

[jovial root]

A number of people have had different problems and wasted GAS with SLP.

So might be best to wait

[clear cloak]

Thanks 🙏 happy to wait.

[cunning perch]

This was the PM I sent in Polemos:

Anyone claiming SLP Rewards just better wait for V2.

Reason: claiming ILV as sILV rewards always ends up claiming some sILV dust. Now that sILV can't be minted (even the dust) it messes up ILV claims. So better wait for V2. This issue is fixed there and the “exploitation” taken care of.

[hot lynx]

Thats a clear answer and a worthy reply. Well done Arash 😀
👍🏻 Great attention to detail
👍🏻 Great customer attitude 🚀

[cunning perch]

Thx m8 ❤️

[hot lynx]

You always go the extra mile to reply accurately and with customer empathy 👍🏻 one of the best

[cunning perch]

You are so kind 🙂 just doing my best to help

[hot lynx]

You are doing a great job congratulations. It shows you care

[left wharf]

Guys I don't get it:
Is it safe to claim ILV rewards from ILV and SLP pool?
Or should I just wait with that claim?

[marble yoke]

Hi,
i had my ilv staked in locked staking which has run out now. Do i need to withdrawl and restake now or is it still staked as flexible staking? The dashboard still shows them as staked

[cunning perch]

Read 5 PMs up

[cunning perch]

It's staked at the same weight and generates rewards. You can withdraw or you can leave it there until V2 is out. Your choice. Also watch out for DMs. They are scams

[marble yoke]

Yeah, just got one 😅 So i can leave them their until i want to quit staking. Thx

[cunning perch]

You can then upgrade to V2 and continue receiving rewards or then withdraw and sell or hold or stake for longer and more weight. All your choice. Please send the full ID of the scammer in #🚨❗〕report-scammers

[marble yoke]

Already done, thx

[potent flare]

@brisk surge staking questions here pls

[brisk surge]

ah apologies, thanks#

[potent flare]

Its not complicated. 1. You stake and rewards start to accumulate. 2. You decide to claim -> the vesting period start for 12 months. 3. You decide to claim again in a week -> the vesting period starts for that unique claim for 12 months. 4. YOu decide to claim in a months -> a unique vesting period starts for 12 months for that claim

[brisk surge]

So with staking.... I can claim rewards now, but those rewards stay in a vesting period? Or does the vesting period resets on my initial stake?

[potent flare]

I dont understand the question, what do you mean reset initial stake

[brisk surge]

never mind you have answered my question.

[brisk surge]

thanks, all I was trying to establish is when I can release my rewards and if it would impact my stake (which obviously has its own lockup period).

[potent flare]

and also be weary of scammers. If anybody DMs you with "help" its 99.9999% a scam

[hot lynx]

Best to ask the Mods Bruce as random people can provide vague in-actionable replies .. like the one you just got.
Real Mods like @cunning perch and the other listed mods are ; safer , clear and correct.
Take care my friend all the best 🙏🏻 @clear cloak

[brisk surge]

Yes, had a close call once before with a very convincing website asking me to stake eth and get ridiculous APY.

[cunning perch]

What happened, ask again if you have Qs. Been in other channels 😄

[vague crow]

Hello ! I am new and would like to invest in ILV token. I have read all the pinned posts and would like to not invest much as I am new to crypto.
Is investing 300 euros now and staking it worth it? Won't I pay too much in gas fees for the little money invested? Is it better to wait for the V2 staking ?
Thanks in advance
Also what is a vesting period ?

[brisk surge]

Nothing lost though so all good

Thanks for the help, I'm checking out. All the best 👋 🙂

[potent flare]

If anybody DMS you know, its a scam. 1. You can buy some on a centralized exchanged to avoid gas fees (binance/crypto.com) I dont think staking is worht with that amount. Vesting is a period of locking that tokens go through

[brisk surge]

Sorry back again, further to that.... Just to clarify this is the ILV core pool address?

[vague crow]

Thanks for your answer ! what do you think is the minimum amount to start staking ?

[brisk surge]

0x25121EDDf746c884ddE4619b573A7B10714E2a36

[potent flare]

i dont have an answer to that unfortunately. During summer even staking 1 ilv was worth it, since gas was a few $. It all depends on the gas fees. At the moment, to stake it would take like... 100$? something like that for the ILV core pool. and to claim each time the same amount. Unfortunately you do not get much rewards there with a low investment so it might not be worth it. SLP pool is more lucrative but if you are new, you might get confused with it and the gas fees are twice there

[potent flare]

https://etherscan.io/address/0x25121EDDf746c884ddE4619b573A7B10714E2a36 seems like it, yeah

[vague crow]

All right ! So as a beginner only buying some ILV token and just keep it in my wallet is a good start ? About claiming rewards, if i stake for 12 month there i will only claim my rewards one time at the end of the 12 month isn't it ?

[potent flare]

You can hold if you would like yes. Regarding staking : Its not complicated. 1. You stake and rewards start to accumulate. 2. You decide to claim -> the vesting period start for 12 months. 3. You decide to claim again in a week -> the vesting period starts for that unique claim for 12 months. 4. YOu decide to claim in a months -> a unique vesting period starts for 12 months for that claim. PLUS there is a revenue distribution mechanic - all the revnue gathered by the dao will be used to buy the ILV token of the market and distribute it to all STAKERS in proportion, so it is also a factor to consider

[vague crow]

Very clear ! Thank you very much for your help !

What is dao btw ?

[cunning perch]

Decentralized Autonomous Organization

[brisk surge]

is it worth to transfer 40$ of ILV into meta mask and stake the remaining 10$ after gas fees? Will there be an airdrop that will compensate for the gas paid?

[autumn cloak]

Yea definitely not worth it lol. I wouldn’t stake any less than 3k+ myself to make it worth it with gas. With a 10$ stake I don’t think you’d ever make your money back

[brisk surge]

just want some airdrops. already missed free 8k from IMX and Gods unchained

[autumn cloak]

They don’t ever really airdrop ILV here; generally just NFT’s and the occasional sILV (which you shouldn’t be messing around with right now anyways)

[hot lynx]

Ok this is the #🥩〕staking channel 👍🏻

[arctic pawn]

if i have ILV in staking i havo to do something in the near future? I read something about V1/V2 but didnt understand very well

[deep pecan]

hi mate just had a friend invite from you the tag was 9292

[cunning perch]

Send the full ID of him and I'll ban his ass 🙂 (copy ID)

[cunning perch]

If you are staked and locked, you need to upgrade to V2 when it's live.

Also watch out for DMs. Scams

[deep pecan]

sorry i already canceled the invite

[cunning perch]

It's ok. Next time something like this happened do that

[deep pecan]

i block all dm:s ok will do

[arctic pawn]

yes i have loked. there will be an announcement and a guide for hot to do that?

[cunning perch]

There will be a HOW-TO for sure. Again, watch out for scams. They lurk everywhere

[arctic pawn]

yes thx mate, i will go through official channels

why this upgrade from V1 to V2? whats the meaning?

[cunning perch]

V2 will bring more security, gas-efficiency, RevDis, possibility to change wallets, claiming all rewards in 1 TX

[arctic pawn]

ok.. and we will pay fees doing upgrade?

[cunning perch]

Minimum one and maximum two times only

[arctic pawn]

twice??? do you know how much?

[cunning perch]

Which pool have you “deposited” in?

Not talking about claimed rewards.

[arctic pawn]

Not LP, the core ILV

[cunning perch]

you upgrade 1 time then that's it

[arctic pawn]

Ok thx🙏

[fluid arch]

Is anyone else unable to claim rewards right now? Is it just because of the recent scam thing?

[cunning perch]

read this please #🥩〕staking message

and watch out for DMs. they are scams

[acoustic obsidian]

Hey guys how does vesting works? If i stake 1 ilv, it is locked for 1 year and the rewards i get are locked 2 years bcs of vesting? I got it right?

[cunning perch]

everything will be locked for 1 year AFTER you claim it, not 2 years

[fluid arch]

@cunning perch got it thank you. So hopefully V2 is soon! I was saving up my rewards to claim a specific amount all at once and this happened so now that amount is passed 🤣

[cunning perch]

yeah V2 is soon for sure. when it's out, after you upgrade, you can claim whichever rewards you want 🙂

[acoustic obsidian]

So if in 2021 i stake ilv, i can claim the ilv back in 2022 but the rewards are claimable in 2023? Because i claimed the rewards in 2022?

[cunning perch]

You stake 1 ILV in July 2021, lock it for one year, you can withdraw it in July 2022.

You claim 1 reward in September 2021, you can withdraw it in September 2022

You claim another ILV in March 2022, you can withdraw it in March 2023

and so on

[acoustic obsidian]

But if i can claim the rewards only after 1 year of staking has passed, and they are locked for 1 year, that makes it 2 years for me to get the rewards from staking now

Or you can claim the rewards anytime? It doesn't need to pass 1 year?

[cunning perch]

It's not a 2 year thing. Deposited stake max gets 1 year lock, rewards each will get 1 year separate lock. one can unlock without the other. So two years is misrepresentation 🙂

[cunning perch]

you can claim anytime you want. you just get them a year later AFTER you claim them

[acoustic obsidian]

Ok thanks i got it now. It was unclear for me because i tought you have to wait 1 year of staking to be able to claim rewards

[cunning perch]

no worries. 🙂 glad I could help

[craggy cliff]

Staking in slp is temporarily disabled until staking V2 is released.

[cunning perch]

#🥩〕staking message

[sharp inlet]

Hello, once I claim my Ilv tokens, do they compound and make extra tokens ? Thanks

[pure bronze]

Guys.. 2 questions:

1. Currently staking is not possible right until V2 launch?

2. Are you using different wallets for staking to mitigate any risk? Am currently staked in ILV pool, want to do another large sum staking in ILV pool and want to experiment with a smaller portion in SLP pool

[sharp inlet]

I have some tokens that are growing all the time even if I claim them, is it coming from stake ? Thanks

Thanks

[gloomy gazelle]

ILV pool should be fine. SLP pool will not work right now.

[pure bronze]

Ok thanks!

[charred goblet]

Whats the % return on staking?

[opal tulip]

Current SLP stakers will continue to get their rewards as usual?

[gloomy gazelle]

Yeah. They keep stacking in unclaimed/pending rewards.

[gloomy gazelle]

!staking Last i checked it was around 30% for ILV only pool and 340% for eth/ILV pool. The staking site shows the apy.

[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

[hollow goblet]

How about those of us with existing locked slps? Will upgrading to v2 and not migrating fix the issue?

[cunning perch]

any locked pool will have to upgrade max twice regardless of the tokens.

[hollow goblet]

Is Claiming rewards broken for slp? Even after upgrading?

[cunning perch]

it is right now. It will be fixed in V2 whether you upgrade, migrate or simply stake on it directly

[hollow goblet]

Good to know. So will have to upgrade v1 locked slp to get access to claiming ilv rewards again

[cunning perch]

yep. shouldn't be that expensive. we will see though

[floral lance]

Arash,

[cunning perch]

ah...yes?

[floral lance]

I watched the tutorial for staking... the only part unclear is if i stake my ILV tokens for 52 weeks and want to claim rewards at some point in ILV, does the rewards get relocked again? I was not clear on that..Original tokens released after 52 weeks, but about the reward tokens?

[jolly rain]

Your thoughts guys, staking 70k$ worth of SLP, shall I wait for v2 or go for v1 ..Waiting for long already

[cunning perch]

I have 1 ILV.
I stake today 5/1/22 for one year
I can withdraw on 5/1/2023

I have 1 ILV in rewards in 4/3/22
I claim that reward in form of ILV
It gets locked for one year and I can withdraw it on 4/3/23

[floral lance]

Got it.... same with revenue from gaming and any claim of compounded rewards right ?

[cunning perch]

RevDis is unlocked. you can withdraw whenever you want. It will be paid in form of ILV several times a week so no one can time it. Also again, watch out for DMs. They are scams.

[floral lance]

Will revenue dis display on my dahsboard automatically after I stake? Sorry for the many inquiries

[cunning perch]

RevDis will show on your Dash and you can withdraw it from there. It has nothing to do with the core staking pools and their APY

[floral lance]

Ty

[soft lion]

If i remember correctly, SLP staking is broken until v2 comes out because of the sILV exploit, so you're going to have to wait i guess

[jolly rain]

Really? So doesn't work now ?

[soft lion]

can't stake or claim rewards for now with SLP, it generates rewards for people who staked before this whole thing blew up though. i might be wrong somewhere though, better ask a mod for confirmation

[supple meadow]

Well I hope V2 comes out before the 15th so we still can have the land sale

[opal tulip]

70k ...u shouldve just gone ahead. But its too late now. SLP staking is disabled till v2.

[opal tulip]

I heard it will be delayed due to this sILV saga. Until the problem is properly resolved and wallets compensated then land sale will occur

Now not only just v2. Its about sorting who the real owners of sILV tokens are while trying to purge or remove those hacked sILV (which i quite doubt so since some were bought by innocent wallets)

[supple meadow]

They have all the screen shots, seems pretty straight forward.. and as far as people that bought when it dropped, that wasn't a official liquidity pool, you entered at your own risk, pretty sure everyone had to click that check box to get it...

are they going to let them keep the hacked sILV if they bought it unknowingly?

[mystic thorn]

Well the hacked sILV is useless

[supple meadow]

i would assume that when they tanked the liquidity pool someone bought some cheap sILV.

[mystic thorn]

But it is useless they cannot use that sILV

[supple meadow]

right that's my original point, so it should be straight forward to get things back on track. Hopefully this isn't a cause for months delay on V2, land or the game

[opal tulip]

Something that is hard to solve is not just about those that bought after the announcement.
Its about those that bought the hacked sILV that were mixed into the pool.
It would be unfair to just remove them from the wallets. But allowing them to keep would damage the economy as a whole. So it is hard to think of a proper solution.

[jovial root]

The solution to this was that Kieran planned to use his own sILV to balance that. So there would be no oversupply or loss to people.

Thats millions of $$$, out of his own pocket

[potent flare]

@limpid flume you just drop the file in the text box

[limpid flume]

@potent flare

[potent flare]

yeah, everything looks pretty good!

[limpid flume]

Oh ok - wonderful! Super helpful man!! Thanks a lot!

[uneven cobalt]

I staked 1 ILV yesterday. How much return can I realistically expect in a month?

[potent flare]

not much at all, 10-15$ maybe? probably less tho

[exotic jolt]

The staking platform looks awesome. Does it leverage existing smart contracts or custom built from scratch? Im working on a project of my own and want to create something similar

[old mauve]

$10-15 is probably about right. Once the land sale happens and the game launches, you should receive more from revdis which will be in the form of unlocked ILV tokens. The amount of revdis could be a bigger portion compared to your staking rewards. All depends on how well the game does.

[primal dune]

Does anyone have historical APY on ILV staking?

[hot lynx]

This is the #🥩〕staking channel 👍🏻

[hot lynx]

Are they not locked also ?

[old mauve]

Staking rewards in the form of ILV are locked for 12 months (vesting). Revdis will be unlocked ILV.

[hot lynx]

Great to know that's 💯 👍🏻

[exotic jolt]

?

[hot lynx]

Building websites is #799010390201466880 🤣

[jovial root]

Best to have a read of the Dev Blog.
Has a lot of insightful information there.

You can find it using the Search function

[hot lynx]

He follows his back ..

[delicate plaza]

Anyone else unable to "connect" their wallet to the staking website? Not trying to claim anything, just view balances

[jovial root]

Mine is connected fine.

Try giving the computer a restart, that fixes my Metamask problems most of the time

[delicate plaza]

Thanks will give it a go

[hot lynx]

this can be resolved by clearing your cache in your browser. No need to reboot or restart your PC

[jovial root]

Yeah restart is always better than clearing Cache, because if you clear cache, you lose all your other info on other sites, then you need to log back in and lots of crap... just to solve 1 problem that is often fixed with an easy restart...

[delicate plaza]

Restarting did the trick thanks!

[spice shell]

In V2 pool we can stake Sushi or only ILV or ETH???

[hot lynx]

You can clear you cache for one website and this ensures that the issue will not occur on that site again. Restart or not
You do not loose all of your other information when you do this

[elder dawn]

the pools in V2 will be the same as today - you can stake ILV only in the ILV pool, or the pair of ETH/ILV in the SLP.

[minor shuttle]

Hi guys, im new to the Illuvium ecosystem and I'm planning to start staking. Can anyone provide me with some walkthrough/tutorial or docs about staking ILV

[craggy field]

First walkthrough = dont respond to DMS!

[craggy field]

After that you can do multiple things. First is to get ILV tokens though. Most important step where do you get them.
2 how many? Well which pool do you want the ILV or the SLP pool? ILV needs 2x as much ILV compared to SLP.
3. Now how do you stake safely? Do you have a ledger or other cold storage option?
4. Then what about gas fees?
These are the questions you are looking for i guess

[craggy field]

NFA, my short answers would be:

1. A central exchange would be best or sushiswap/uniswap (check gas fees compared to CEX transaction costs)
2. ILV pool is nice im not sure if IL is a big deal nowadays for the SLP pool. It used not to be a problem at all.
3. Most of us use a ledger and they save a ton of people from getting scammed daily.
4. Gas fees are lowest in weekends early morning UTC check google: Eth gas history for good sites.
   The amount to stake imo would be around +2-3K$ to make any staking worth it with 200$ gas fees at ~70-80Gwei

Hope that helped. Look up some YT videos from our lovely community content creators Vetemor, Volkin, Nixatar and Scoriox for more information. Good to have you around. No offence to other CCs! I just dont watch a lot of yt
Always remember! DM=SCAM!

[minor shuttle]

@craggy field really appreciated the help, this just cleared so many things. Feels awesome to meet people like you in this community ❤️

[craggy field]

There are tons more in this community that know more and can explain stuff better. But also a LOT of scammers who will try to strip you from anything you own. So while in this chat dont press links unless you got to know the person better and see positive feedback from the community!
Discords best mods are here who will not DM you first! always contact them first with any questions. meh you know the drill by now lol most of all have fun!

[uneven cobalt]

how much do people stake to be able to pull out a full sILV?

[delicate plaza]

Depends. Roughly 4 SLP tokens currently yield around 1 ILV per week from memory if staked for 2x weight

[uneven cobalt]

is it currently V1 or V2 staking?

[civic light]

About to invest in ilv, just to be sure the core ILV/ETH remains untouched right?

[craggy field]

You will have to upgrade your stakes to V2 in a little while (couple days maybe week-2). It would cost you one gas transaction to put it towards V2 staking which then will allow you to get rewards again as rewards for V1 will be stopped. Also if you flexibly stake you would not get revdis in either pool starting from V2. (Yes you still get yield farming Rewards)

[civic light]

So should I wait for V2 to be rdy then?

[craggy field]

If it is not enough to break even for another gas fee of idk i say something crazy 150$ then yeah i guess waiting would be better.

[civic light]

Fair enough. Thanks for the help

[fierce chasm]

can we still stake some new ILV?

[craggy cliff]

only in ILV pool atm. ETH/ILV SLP pool is disabled until V2 staking launch

[fierce chasm]

oh damn 😦 okay - thank you^^

[craggy cliff]

V2 should release in Jan

[fierce chasm]

yeah, but with the intention to stake around 20k that would have been nicley 4-5 sILV in farm^^

[left wharf]

Guys, one question:
Is the staking open for new SLP stakers?
I know only that claiming from the SLP doesn't work atm.

[fierce chasm]

just check 1 massage above 🙂

[craggy cliff]

I'm in the same boat held up with this sILV shennanigans, but alas we're here. Staying positive and being thankful to be in early into this project regardless of temporary delays. The way I see it any lost funds I don't make now... it's nothing compared to what the devs are about to lay down personally to reimburse a lot of the community.

[left wharf]

Thanks a lot

[fierce chasm]

yeah, I am not disappointed at all. jsut bad timing^^

[white aspen]

Hi there - does anyone get issues while trying to remove part of if its LP. I am getting the following error message after clicking on “withdraw” : “cannot estimate gas; transaction may fail or may require manual gas limit (error={"code":-32603,"message":"execution reverted: insufficient privileges etc. “

[craggy cliff]

SLP pool is temporarily disabled until V2 staking that's due sometime this month

[white aspen]

Thanks. Thought only the option to claim sILV was disabled, not the SLP pool altogether 🧐

[unreal storm]

If I stake 500 bucks today will it be worth it?

Oh man the price has dropped a little. BBL TIME TO BUY lol

[ruby scroll]

Hi. My ILV is still locked and I haven't claimed my sILV yet. Do I need to do something in my end due to the recent incident?

[craggy cliff]

no. claiming sILV is temporarily disabled anyways until V2 staking release

[hot lynx]

Great transparency on the #🥩〕staking issue @opal elm awesome it's all we want. 👍🏻 #📣〕announcements message

[granite halo]

Is it safe to assume no V2 or land sale this month?

[hot lynx]

It's safe to say expect an update in 48hours per the announcement ⏫

[craggy cliff]

V2 could still be possible in Jan, but won't know for sure until the announcement

[grizzled kindle]

I can’t claim my silv yet ay there’s still issues going on right??

[craggy cliff]

look up 5 messages to my previous comment...

[tender crest]

Just converted some ETH to ILV. The advice is to hold the ILV in my wallet until V2 for staking. Is that right? Thx

[gloomy gazelle]

Probably. Unless you have like 20+ ILV. Then it might be worth getting started sooner. Check pins in here for lelahels calculator.

[strong wyvern]

Hey guys - haven’t been able to claim ILV from the rewards dashboard all wk. Error is ‘unpredictable gas limit’ on both brave and chrome. Haven’t seen ILV claiming mentioned in the hack stuff, thought it was related to sILV only?

[brisk surge]

Are you using the correct gas right now the prices are high so it might be best to wait.

[strong wyvern]

Yeah I believe so, have tried a bunch of different times of the day..

[gloomy gazelle]

As mentioned in previous #📣〕announcements sILV claims don’t currently work. Other than that the ILV only pool works fine.

However, most interactions with the ILV/ETH SLP core staking pool don’t work at the moment. That’s because claiming ILV from SLP results in sILV dust and you cannot claim sILV, so that means claiming ILV from SLP is also usually going to throw errors. The same is true for withdrawing from the SLP pool since that requires a claim first. Also adding a new deposit to the SLP pool if you already made a deposit to the SLP pool previously because those also require a claim to clear the pending rewards. (This one has a work around. You can simply stake the SLP tokens from a new wallet that has not staked previously. But waiting for v2 may be advisable for smaller deposits)

Essentially, v2 staking will need to be live before most of the SLP pool interactions will work. But when it’s live things are going to be much smoother.

[atomic lagoon]

can you please pinned this?

[gloomy gazelle]

Yeah I’ve been trying to work out the best way to say it all.

[oblique forge]

@gloomy gazelle just before reading your explanation about ilv/eth slp i submitted a transaction via sushi swap to buy a sushi slp .... The transaction spend limit Got approved and the gas was taken but the coin was not purchased does this mean I have lost the gas fee I paid and I will not get the SLP token that I was looking to purchase?

[gloomy gazelle]

Your transaction is not effected. STAKING transactions are what are effected.

[oblique forge]

So the fact that the spend limit was approved but the transaction to get the coin nothing has happened what does that mean?

[gloomy gazelle]

Pending on etherscan I assume.

Gas fluctuations probably

[oblique forge]

The ilv and the eth are still in my metamask minus the gas fees is that normal?

[gloomy gazelle]

Check etherscan. Metamask just doesn’t show enough data.

Nothing does but something like etherscan

[atomic lagoon]

if this is the first time you are swapping on uniswap for SLP, there are two gas transactions to get the SLP token. One to approve the spending limit and the second to get the SLP. so may be you just did the first one and not the second one yet?

[gloomy gazelle]

He’s on sushi but it works the same way.

[atomic lagoon]

I meant sushi 😛 typo haha.. thanks for noticing.

[oblique forge]

In metamask under activity the only option I have is it says approve Ilv spend limit when I click on that and it takes me to etherscan it just says it's confirmed.... An it was done on sushi swap via the illuvium staking page

[atomic lagoon]

then it is mostly that you did the 1st part to approve the token spending limit. not the actual transaction to swap to SLP yet.

[gloomy gazelle]

!lp here’s the place to do it properly.

[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]

What is the website you are using as the staking page? Did you get it via DMs?

[oblique forge]

no ilv staking page.....

[gloomy gazelle]

There’s no function on the staking site to get SLP tokens.

[gloomy gazelle]

This is how it works. These are the sites to use.

[oblique forge]

when you go to the staking site and click on the "i" in the circle beside sushi lp ...a note comes up and it tells you where to acquire ilv/eth lp... and you can click on the word sushi.com

when you click on that it takes you to sushi swap with the eth and ilv already selected

[gloomy gazelle]

Ok that sounds good.

As Kuki said you probably approved the token use but now need to provide liquidity.

[oblique forge]

so do I have to try and purchase the coin again by doing the same process?

[gloomy gazelle]

It’s 2 transactions

You take the ILV and eth you have and pay to combine it into some SLP token. You have to provide the liquidity.

[oblique forge]

ok.... so I just tried to doing the transaction again and its asking for a gas fee that is way higher then the first transaction I did and approved.... so I just closed it...

[gloomy gazelle]

!gas

[woven ibex]

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

[gloomy gazelle]

Yeah it’s super expensive

!fees

[oblique forge]

it was 3x more then I approved the first time

[knotty river]

Fast: 129 Standard: 129 Slow: 128
Simple ETH TX: $9.3 (0.0027 Ξ)
Token Approval (ERC20): $22.74 (0.0066 Ξ)
Token Transfer (ERC20): $21.37 (0.0062 Ξ)
Uniswap Trades: $53.42 - $88.91 (0.0155 Ξ - 0.0258 Ξ)

[atomic lagoon]

you might want to wait for when the gas fee is low and personally I would wait for V2 staking.

[gloomy gazelle]

Yeah gas is high.

[oblique forge]

so I don't understand..... I approved the first transaction at a certain gas fee.... why do I need to pay a 2nd gas fee?

[gloomy gazelle]

Your first transaction was a use approval. It’s not an actual trade or swap or lp.

[gloomy gazelle]

Up here. See token approval. Cheap.

!staking maybe watch the video here. The second half.

[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

[oblique forge]

dang.... I wish I knew that before.... 😫

[gloomy gazelle]

You won’t need to do the use approval again at least. It’s ready to go.

[oblique forge]

dang..... guess I just gotta wait till I find a decent time for gas

[gloomy gazelle]

The weekend is always best.

[oblique forge]

So I can leave it till the weekend and my approval will still be valid?

but right now the swap ratio with ilv / eth is decent.....

unless eth jumps up by the weekend and ilv stays low

[gloomy gazelle]

Yes. From now on unless you got out of your way to revoke it. Which is rarely done.

https://tenor.com/view/ilv-nfa-taalik-tiktaalik-illuvium-gif-23319446

[oblique forge]

ok cool

[brisk surge]

okay guys... so i'm currently staking, and i can see the "claim reward" under rewards... will that number go up over time or is it the same throughout the next 24 days?

[gloomy gazelle]

It keeps going up. Every block a little more accrues. Staking is still working. Just some interactions

[small island]

Im getting the same issue when trying to claim ILV (not sILV) from the LP pool. Has there been an announcement that explains why that is the case ?

cc @dry junco

[atomic lagoon]

This might help explain
#🥩〕staking message

[gloomy gazelle]

Yeah I pinned the info.

[small island]

ok. thx @atomic lagoon @gloomy gazelle

I hope that pending rewards can be claimed via the v2 contracts :))

[gloomy gazelle]

They will

[burnt seal]

Will I be able to stake/invest in the Sushi LP after the issue has been resolved to heeld some sILV before the land sale or will V2 launch and next day its the land sale?

[brisk surge]

which reward should i expect to receive? the one in the staking menu or the one in Rewards section?

[atomic lagoon]

if you mean reward in the dashboard tab and reward tab, both are the same thing.

[brisk surge]

but i see two different ILV amounts 🙂 ?

[atomic lagoon]

the reward tab has more decimals, but should be the same if you look at the $ amount.

[brisk surge]

one claims 5.28 ILV and the other claims 12.95 ILV :/

[atomic lagoon]

this is a scam site. (you might want to remove it in the chat).
this is the correct site
https://staking.illuvium.io/

[brisk surge]

are you freaking kidding me?

[atomic lagoon]

No I am not. I am sorry buddy.

[brisk surge]

Miles Robot#3142 was contacting me

[atomic lagoon]

all DMs are scams.

[brisk surge]

fuck me .... just spend 1000$ doing this ....

[atomic lagoon]

I am really sorry to hear that. if you have anything else in the wallet, please move asap and do not use that wallet anymore.

[brisk surge]

1st day in here bro ....

[atomic lagoon]

I understand how you feel. 😦

[hot lynx]

Best to report these also in the #🚨❗〕report-scammers , so others can hopefully know.
Also if you are unsure . Look in that channel and you will see
It's unfortunate for you , but happens often 🙏🏻

[brisk surge]

i just did that... those fuckers just costed me 1 grand

[fleet steeple]

Hi, When I stake in the core pool. When do I get my rewards? At the end of the staking period or daily/weekly .. ?

[ember ginkgo]

You can claim your rewards when ever you want. Just gotta make sure it's worth the gas. When you claim your ILV they will be locked for a 1 year vesting period

[fleet steeple]

Thank you, so I can claim them, but not sell them ?
Do I need to make an transaction after one year or does this work automatic ?

[ember ginkgo]

Let's see if @cunning perch woke up already. He can explain this a lot better than me 🙂

[cunning perch]

the moment you stake, you will get rewards every 15 seconds. This will help you:

[woven ibex]

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

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

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

[fleet steeple]

thanks for the info!

[lime epoch]

It's not possible to withdraw or add SLP tokens (to existing LP positions) atm, correct?

What is the ETA on v2 staking?

[cunning perch]

most probably this month

[hot lynx]

Trapped for 24 more days 👾 😂 .. in a red death spiral ..

[somber heath]

Hi guys I am getting an error message while trying to stake my SLP tokens, anyone know why?

[cunning perch]

Just answered you in help

[vague crow]

Thanks for those info, do you know how much costs gas fees each time we claim rewrds ?

[cunning perch]

it def depends on the gas ion the moment you claim. you can check with the gas bot or other websites like Etherscan

[vague crow]

ok thanks ! You don't know the range approximately ?

[jolly rain]

50-100$

[vague crow]

Thanks !

[jolly rain]

You are welcome, weekends tend to have lower cost

[narrow merlin]

Hey @cunning perch which country are from?

[cunning perch]

I'm Persian, why? 🤔

[spice vortex]

I have a question please on staking. I am waiting for V2 to come out before i stake. From what I understand I will need to WRAP ETH/ILV to create a wrapped token to stake and turn it into sILV. My question is with the prices today being lowers for both of these tokens would it be good to wrap them now and store them in my wallet before lets say ILV goes back to 1000$ and Etherum to 4000$ and if it is wrapped in my wallet will it scale back up to those prices or will it be in a way locked at the price i Wrapped it at. Sorry I have only wrappped tokens one time before.

[narrow merlin]

Nothing much. I wanted to know in which country are you now? To know about your time zone.

[cunning perch]

1. you add ILV + ETH to Sushi and create SLP, not sILV.

2. if you create SLP now and not stake, you might suffer unnecessary Impermanent Loss without being compensated for it with Yield. If you are OK with and don't mind it, you can stake. but any price movement (up.down) will cuz IL.

You can buy ETH and ILV and hold them and when the time comes, add liquidity to Sushi and receive SLP

[cunning perch]

ah ok. I don't have a TimeZone. I usually sleep 3-4 hours a day, so you'll see me everywhere any time

[narrow merlin]

👍😆😆

[hot lynx]

Zup

[narrow merlin]

Is Illuvium team based out of Australia?

[spice vortex]

So I am watching videos to try and get it but i tried this LP stuff before and saw that there was a risk on the exchange. I guess another question is when we are staking this through the Illuvium website as Sushi LP like you said and I see now i have a little understandgin of the IL that can happen but thats just fiat value not the staking interest where we gain ILV and sILV tokens correct? Meaning their isnt a chance when you lock for a year you get the toekns regardless if the price of actual Etherum and ILV goes up or down? I guess im trying to get ready so I can start earning sILV.

[cunning perch]

they are literally from everywhere, but the founders, yeah.

[narrow merlin]

👍

[cunning perch]

When you stake SLP, you get Yield (more rewards that you can claim in either ILV or sILV form). IL happens when the pool is off-balanced. Like when ILV out-performs ETH. So to keep the balance, the pool sells your ILV and buys ETH, so you will have more ETH than ILV in the end. For this loss, you are getting staking rewards. Now if you provide liquidity and don't stake, you will lose tokens without getting compensated for it.

[jolly rain]

What mainly matters when staking SLP is the price movement of ILVETH, causing IL .. USD value doesn't matter here

If you create SLP at ILVETH 0.25 .. after 1 year you want to withdraw, while the ILVETH at the same price of 0.25 .. you have 0 impermanent loss.

[spice vortex]

Arash so over the course of a year their will be alot of changes in prices of both tokens. So as this happens even though lets say it was 4 ILV at 1000$ and an Etherum at 4000$ at the time to LP the tokens. 6 months later lets say Etherum is only 5000$ and ILV is 2000$ a token so a difference of 3000$ between the original LP wrapping. So does this even effect us on the Yeild awards of ILV and sILV? Or does it only affect the people that are pulling or unstaking and there LP toekns and they get a differnet balnace of ILV and ETH as compared to when they intially Wrapped the tokens. I appreciate the feedback.

[spice vortex]

ok so what if the ratio isnt 1 ETH to 4 ILV but more like 3ILV to 1 ETH value? Is it a IL loss or gain?

[cunning perch]

you will get Yield not based on the $ value, but this def affects RevDis as it takes only ILV part of SLP into account and not ETH or SLP as a whole. So, losing ILV = less RevDis

[spice vortex]

Ahh ok so based on the 4 ILV is the primary Yeild

[jolly rain]

No gain here, always there will be loss if the value of ILVETH moves, you will get less from the asset that went high and more from the asset that went down.

But if both assets went up USD wise , you basically get profits USD wise, but less profits than just holding at wallet not providing Liquidity

google: Impermanent Loss Calculator .. go for first result and it will help you much

[spice vortex]

So since 2022 is going to be Awesome and bullish and 1 ETH will be 10,000$ and 4 ILV will be 3000$ each so 12,000$ and at that time in the LP pool earned another 5 ILV or 15,000 and you unstake and sell lets say you get all of the items above at the current USD rates?

[jolly rain]

Thats why I just staked SLP today 😄

[spice vortex]

minus some USD value because like you said some loss

[jolly rain]

You get 330% .. that is very good deal no matter how bad the IL can go

[spice vortex]

Right but are the gas fees from V1 to V2 going to be high. I hate Etherum for the gas fees but ILV seems to be worth this middle man banker tax

E;gayyar I also read that if we havent staked SLP yet maybe waiting for V2 is worth it. If you staked on V1 like you just said you didnt lock it i guess so that you can migrate when V2 comes out right?

because i totally agreee on the 330% but you ahve to lock it

[spice vortex]

Did you stake locked in V1 but will still be able to migrate to V2? I thought you cant migrate until the staking period is unlocked/

[cunning perch]

migration = when tokens are unlocked (optional)

[spice vortex]

Right but to get the 330% on SLP now you have to lock so you wont be able to migrate to V2 when it releases right?

im listening to the staking video and questions are coming in during it becuase its so confusing.

thats why I have been holding for a week and DCA to ETH and ILV the last 2 days since it was a nice drop but I would stake right now if it was worth it and I wouldnt ahve to do alot of crap to get to V2. Well besides everything being halted currently from the hack.

I am jsut wanting to do it the easiest way with the least amount of ETH middle man taxes and stake for the long term. This game is going to be great and for the long term.

[cunning perch]

Migration is an option. You will upgrade even when your tokens are locked and enjoy whatever V2 offers. If you wanna stake now, you can do it. YOu will then have to upgrade only one time.

[spice vortex]

Any time frame updates on V2 coming out ?

[cunning perch]

this month most probably

[obsidian shore]

Is LP staking enabled currently?

[atomic lagoon]

If u r putting in completely new stake, yes. If you are restaking, NO. Check pinned.

[obsidian shore]

Planning to buy the dip and add LP

[atomic lagoon]

Don't trust DMs!

[fossil swan]

my rewards have NOT been increasing for almost 2 weeks, anyone with same issue?

[cunning perch]

every 2 weeks reward distribution drops 3% and ppl joining the pool affect it. How many did you have in your "pending rewards" 2 weeks ago and how much have you got now?

Also, did you stake in staking.Illuvium.io?

[fossil swan]

.02 and I have received none after that

yes staked at the right place

[cunning perch]

It should be in decimals that's why you haven't seen any, wait a bit longer, if it didn't increase ask again and we'll contact a dev. but everything is working as you are the first person saying this for now.

[fossil swan]

ok i did wait 2 weeks

i have the original ILV locked and the APR was i think over 30%

[hollow goblet]

Would like to know this as well

[jolly rain]

Yes I locked them for 1 year, just planing to upgrade.. I am holding a big amount that's why everyday without rewards is a loss .. was waiting for V2 but since it seems to take longer time I decided to take action today

[cunning perch]

you can stake if you haven't staked before. But you can't withdraw or claim rewards for now until V2

Hey @hexed bough, can you help him with his Q? I told him to wait but I think you can provide a better one. ( @fossil swan )

[cunning perch]

wait for the answer of the dev mate. don't tag him. he will reply here

[hollow goblet]

If I have staked before can I add a new ilv/ETH stake now?

[cunning perch]

I don't think so, cuz staking a new SLP will force you to claim rewards first, and you cannot claim now that sILV is not available. This has not been confirmed though. Might work.

[fossil swan]

Thank you

[hollow goblet]

Could we get a dev to confirm without an end user wasting gas to try it out?

[mystic thorn]

We are looking at the end of January or maybe into February it should be soon after Staking V2 is released which will happen when the council votes. This however could be wrong nobody is sure

[spice vortex]

This applies to SLP as well? Meaning if I havent staked before yet staking SLP right now is available and can lock for a year then when V2 comes out just pay gas fees to upgrade at that time. This way I can staart earning sILV which i am not worried about unstaking just want to start accumulating so im ready for land sales and in general. Only about 4 ILV but this may be enough to make it worthwhile

[cunning perch]

Wait for a bit. There will be an announcement real soon. Most of your Qs will be answered after reading it.

[spice vortex]

sounds good. appreciate the great support from you guys on here.

[cunning perch]

Anytime 🙂

[hot lynx]

👀

[dusky ember]

If I stake in $SLP without locking, can I pull my rewards out into my wallet, or do they auto stake back into $ILV like my currently locked in $SLP staking?

[cunning perch]

Don’t stake now if you are gong for flexible pool. Wait until you read the. Announcement thats coming soon

[hot lynx]

sILV rewards are locked up in a hack for now

[dusky ember]

Understood, is that today?

[cunning perch]

Maybe. We’ll see

[dusky ember]

Yup, didn't plan to touch $sILV

[hot lynx]

You can't even if you want to we are all stuck

[dusky ember]

Ok thanks. I have to wait 7-days for my exchange to clear the purchase for transfer to metamask anyways. US banking sucks.

[hot lynx]

Might be cheaper then , just need to add 3 lots of gas for SLP

[cunning perch]

Never planning to live in the US. 😄 GL mate

[hot lynx]

+1

[dusky ember]

Absolutely. I already have a significant amount staked with a 365 day lock from a month ago. Claimed $ILV, not $sILV, and it restaked automatically. Just looking to be able to pull the new staking rewards when I want to make some passive gains I can reinvest elsewhere while keeping my other staking locked.

[hot lynx]

You are at least 700 days away from that idea

[dusky ember]

Our government is trying to prevent Crypto from happening and they're losing. I just want them to give up sooner.

[dusky ember]

I am pretty sure unlocked staking can be pulled whenever. Only the locked staking stays. Anyways, have a good day

[hot lynx]

If you wait 335 days to claim the claim unlocks 365 days after that date . Just saying as you mention auto staking and just leaving it

[dusky ember]

For locked staking rewards, yes.

[cunning perch]

I hope they do give up trying to ban it faster.

[hot lynx]

Some people dont know and get a shock

Good luck

[dusky ember]

Thanks

[covert cape]

I trying stake SLP or claim ILV but getting that messages every time. And transactions can't go through. Anyone know what to do?

[cunning perch]

Since claiming ILV from SLP results in sILV dust and you cannot claim sILV, it means claiming ILV from SLP is also with issues atm. Don't claim anything from SLP. for this reason, you can't withdraw it as well.

wait for the announcement that comes in shortly. Maybe tomorow

[covert cape]

Wait this mean nobody can't stake or claim SLP till announcement?

[cunning perch]

Yes. been saying that for 2-3 days if I remember correctly 🤔 New stakes won't have issues

this is just for SLP

[covert cape]

That info Should be on pin messages I think. Not everyone reading all communication here.

[ember ginkgo]

It's posted in #📣〕announcements, make sure to always read this channel 🙏

[cunning perch]

that's why I said wait for the new announcement 🙂 An option is being provided.

[hot lynx]

We are in a locked in the current downward price 🔐 spiral in the SLP with no way of getting out until V2.

[covert cape]

Don't see anything about SLP it's mentioned only about SILV

[hot lynx]

dust or claim not claim with SLP we are 🔐 Jammed in my friend and it hurts on a daily basis.
Perhaps a little airdrop could take some of the sting away.
It's kind of like the time the APY was written wrong on the portal for a while.

[covert cape]

Ok I will not do anything about it unfortunately .I hope they will fix it by the end of the week.

[odd hemlock]

what's the APY for ILV right now?

[hot lynx]

Ignore the LP / SLP one as it's not possible at this time as in right now. At least that's the case for us current #🥩〕staking LP/SLP holders. You would need to explore your own case

[ember ginkgo]

Ah yeah, sorry about that

[hot lynx]

that sounds promising
end of the week fixed ... Really 👀
I doubt it as we still have no updates on the council meeting

[proper ingot]

I've missed this entirely. Is there word on why this happens? If you can point me somewhere I'd appreciate that a bunch :)

[ember ginkgo]

Some information in #📣〕announcements and the pinned messages in #💬〕general

[proper ingot]

Yeah, I'm aware of the sILV exploit, but I didn't see nothing mentioned in that context regarding SLP staking not working due to sILV dust being the result of claiming from SLP stake pool.

[ember ginkgo]

It's in there somewhere, kinda too lazy to look for it 😛

[proper ingot]

Figured it out, thankfully the phrase is not mentioned too often, had to go back all the way summer 21 when it was discussed

[ember ginkgo]

Mate, you shouldn't be using these commands. And if you do, at least do it in #👑〕bot-commands
<@&795142782133207063> can we have a little clean up here?

[smoky nest]

Yoooo

Can someone help me understand why one of the pools is 332% ? Like why would one not take that one, whats the catch. With the delay, I kinda wanna get into staking

@ember ginkgo , my friend, do you know?

[versed coral]

Is it possible to stake into the SLP pool now?

[ember ginkgo]

There is a chance of impermanent loss but I don't understand all those things 😅

[smoky nest]

Impermanent loss? lol I'm not english, that's my first time seeing that word

[ember ginkgo]

Yeah you can lose stuff, like high risk high reward or something like that. Let somebody else explain it.

[smoky nest]

Alright i'll wait ahah

[cunning perch]

You provide ETH + ILV 50/50. So there is a balance. Now if (for example) ILV moons and out-paces ETH, in order to keep the balance, the pool will sell your ILV and buys ETH. So you lose your ILV to ETH. The opposite might happen. Also if the prices tank, ppl can buy your ETH and/or ILV cheaper than you had bought (if ever prices get that low). @ember ginkgo

[smoky nest]

So you end up with not 50/50 ILV/ETH, but a total value equal to what you had initially? Or you can actually lose the stuff?

[cunning perch]

Example:

1 ETH = $4k
4 ILV = $4k

This is a balance. Now if ILV pumps to $2k per ILV, the pool will be line this

1 ETH = $4k
4 ILV = $8k

The pool is unbalanced. What the pool does, is to sell $2k worth ILV and buy $2k worth ETH. So you will have:

1.5 ETH +3 ILV now the pool is balanced

What happened here is that you lost ILV and gained ETH.

[smoky nest]

Ok so it kinda freeze the value of what you stake, as opposed to the other pool where you keep your ILV so if it goes up you gain value. And, in addition to this, you get the reward.

[cunning perch]

Well I gave he example of token going up in price. If they go down, you will lose again. Because ppl are the ones buying liquidity. So they buy your tokens cheaper and cheaper as it keeps going down