🥩〕staking

[cunning perch]

For all this loss, you get more rewards

But less RevDis

[smoky nest]

Well you are losing ILV but you gain ETH aint that right? So the only case I'm actually losing total value is if both ETH and ILV drop. And I would have lost value anyway

In the opposite scenario, if ILV value drop, you get more ILV and less ETH, so its still balanced in value

[cunning perch]

If it goes up yeah. But ETH might stay $4k for a very long time and then drop so you are not gaining as ILV goes up. You are losing it.

[cunning perch]

If ILV drops it's usually because ETH is dropping too. So you lose both in value and the pool is buying/selling either to keep the balance

Opposite to that, in the single asset pool, you have ILV sitting there safe and sound off the market while getting full RevDis but smaller yield

[obsidian shore]

Can ILV in an LP collect any revdis at all?

[smoky nest]

Thanks for all the info Imma have to think about all that

[cunning perch]

Only ILV part yea. Not ETH

[cunning perch]

Yep. No worries.

[obsidian shore]

How would an ILV holder claim revdis in the future? Is it airdropped?

[smoky nest]

btw its so hard to tag you without replying to one of your messages. there is so many Arash illuvimod in this server

[cunning perch]

Unfortunately yes. Find me in the member list under “lead mods” if I was online, you can find me there.

[cunning perch]

You claim it and it goes to your wallet. Gotta pay gas.

[boreal roost]

what's the cheapest way to get ILV to my wallet so I can stake it? I bought it in Binance, but the fee for withdraw is so high that it's barely worth it

[cunning perch]

There is no cheapest way. I believe Binance's transfer fee is 0.0035 worth of ETH when sending on the ETH mainnet. That's the only way you can send

Also watch out for scams. DMs are all scams

[boreal roost]

no staking for me then

😢

[brisk surge]

You wanna wait until v2 anyways I think

[quasi spade]

Will V2 make it cheaper to stake in terms of gas fees. I have will money in metamask, but my understanding is there is gas to buy ILV and another gas fee to stake

[final steppe]

Yeah, for now, you may want to look into gathering funds and saving. If the fee to withdraw from Binance is too high for you at the moment, then the fee you have to pay after that to actually stake the ILV will be too high for you as well. Gas fees on the network right now will be around $100+

[cunning perch]

every smart contract signature needs gas. V2 will make it more efficient, mostly in reward claims and withdrawals, but in general yeah. it is supposed to lower it a bit.

[quasi spade]

Thanks

[misty fern]

Guys am new can someone explain to me what is v2 ? Or where i can find more about it ?

[cunning perch]

[steep igloo]

second layer somthing on the ethrum blockchain i belive

[cunning perch]

That is L2 not V2

[misty fern]

Is v2 out yet ?

[left wharf]

I checked pinned messages and I am quite not sure yet:

I am staked for a year (SLP) unlock is more than 200 days from now.

I know that I can't claim for now and I did not even try.

So I will be able to migrate immediatly as soon as V2 is released, although I have a locked SLP and locked ILV rewards, right? And after the migration will be the next time claims are available in my case, right?

[misty fern]

I just confused alot of things going on

[cunning perch]

No

[steep igloo]

Can you buy ILV thru the Binance US site?

[cunning perch]

You will upgrade only once. When your tokens get unlocked, you will have the option to migrate. You are free Not to migrate.

Upgrade is a MUST
Migration is Optional

[cunning perch]

No

[steep igloo]

Okay what site could i use in the US

[cunning perch]

I believe KuCoin and Crypto.com are commonly used in the US and ofc Sushi and 1inch

[livid light]

Can we not claim ILV tokens at all on the site at this time?

[cunning perch]

You can, not from SLP though. From the single ILV pool should be possible

[left wharf]

See pinned messages in this channel for more info.

[cunning perch]

Yeah that was not what he was asking 🙂

He was referring to sth else

[left wharf]

sorry

[steep igloo]

What about using coinbase wallet? when i tried on Coinbase thats what it suggested doing, just wanted to make sure

then i could send it to my metamask im guessing?

[cunning perch]

You can check all the compatible wallets on the staking website when you click “connect wallet”

Also watch out for DMs they are scams

Imma sleep now. It's 4 am. Nighty night 😴

[steep igloo]

ty

[unborn solar]

Since we can't claim from the SLP pool does that mean we cannot restake?

[brisk surge]

Currently yes you have to wait for the sILV v2 to come out.

You can still claim your rewards in your existing stake

[unborn solar]

Thanks, Fancy Games staking it is, i'll keep it in the family

[sage swallow]

is there some issue with unstaking / withdrawing the LP? I'm getting error message of not being able to estimate gas

[gritty canopy]

Is withdrawing flexible SLP available now? and what is the step if I want to get back som ETH into metamask?

[gloomy gazelle]

@gritty canopy check the pins in here. SLP withdrawals aren’t working due to the sILV function being shut down.

[hot lynx]

Ignore the LP / SLP one as it's not possible right now. At least that's the case for us current #🥩〕staking LP/SLP holders. We are jammed in a downward price spiral with no way to get out 🔐 it's painfull on an ongoing hourly basis.

We are waiting for ;
🔴 A council meeting
🔴 That meetings decisions
🔴 The time-line to deliver

For now it's the freeze spiral
Unfortunately
An Airdrop could perhaps take that sting away 😭

[gritty canopy]

ok thanks...thats mean I cant do anything. need some urgent eth to buy nft now...

[hot lynx]

Welcome to the lock in freeze Spiral my friend it hurts ⤴️

[gritty canopy]

😩 please reward us with special nft for the staking pool holders during this period

[open cave]

When claiming ILV in the SLP, the ILV claimed will go into the pool? I mean, this ILV will be sold to buy ETH to balance? Or this ILV claimed will be restaked out the pool?

If into the pool, if ILV moons, maybe could be better not claim the ILV atm and claim when the pool is over?

[atomic lagoon]

ILV claimed will be vesting for 12 months and earn the same APY as the ILV pool with 2x weight during the 12 months locked period. You can withdraw after the 12 month.
please also check pinned for interactions with SLP pool at the moment.

[gloomy gazelle]

When claiming rewards from SLP pool those rewards go into the ILV only pool. It’s not directly adding anything to the market.

[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.

[lone patrol]

Hi, I can´t claim my rewards ILV

[gloomy gazelle]

[lone patrol]

when staking V2?

[gloomy gazelle]

As soon as it’s safe to launch. They are working hard on it.

[lone patrol]

ok, thank you for your answer

[gloomy gazelle]

The first audit is complete. But there’s a second to finish and some internal stuff as well. But the team is throwing more staff on it.

[restive ruin]

Does anyone know what the revenue distribution difference is between fixed 12 months staking single side versus eth/ilv pair locked for 12 months?

[verbal heron]

Go to the Core pools and choose the Fixed option and toggle the duration

[limber hearth]

Hey now is a great time to stock up on some ILV and or LP tokens.

take advantage of the dip !

[restive ruin]

No my question is about revenue distribution not staking distribution.

[gloomy gazelle]

!revdis is just for the ILV half of the SLP tokens.

[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.

[restive ruin]

Thanks that is what I thought so for revenue distribution single sided staked is more effective however for accumulating ilv silp is a better option

[gloomy gazelle]

Yeah

But vesting rewards also get revdis.

[honest field]

I'm taking advantage of the dip and buying my first ILV (~$250 worth). I'd like to stake it. What is Sushi LP? Should I buy $125 of Sushi and $125 of ILV as that seems to give better returns when Staking?

[real spruce]

hey guys, any staking pros here? how much should I expect if I stake around 10-20 ILV/ETH LP tokens? I only have some experience in Olympus and Rome Daos. thanks!

[real spruce]

I believe that if you only stake ~$250 total, the staking gas fees will eat you alive. However, DYOR and NFA so here is a quick tutorial on sushi LP.

go to sushi.com and click on the liquidity tab.
Eth will be the first choice =, find ILV and add it to the second choice.
Enter the amount of ILV you want to stake.
The website will tell you how much ETH you will need, which you are correct in saying that its 50% ETH and 50% ILV
So if you have $250 ILV, you will need $250 in ETH.
A new LP token will be added to your wallet which can then be taken to the illuvium website and staked in the LP Pool.
Hope this helps! Lastly, I am also wondering what the rewards are like right now so if anyone can give us their insight, that would be awesome. Im thinking of staking 10-20 ILV

[honest field]

Thanks for this, it's very helpful! Do you know if there will be gas fees in Version 2 of staking, which should be released soon?

[restive ruin]

Oh damn that just makes the calculation harder. Thanks

[queen grove]

SLP value?

Odd that it's not on a bot over on the right

[queen grove]

5 SLP currently turns out ~.0085 ILV per hour/0.20 ILV per day. Calculations should be easy after that.

[sonic lotus]

Are you sure that’s right? I’m quite sure it’s more than that.

[queen grove]

Actually, I forgot to factor in my ILV stake. It's actually a bit less. Gimme a sec

.0079 per hour/0.19 per day for 5.12 SLP staked.

Over the last 30 days.

[pure bronze]

Any update on Staking V2 already?? I want to stake but I have been waiting all the time for the V2 thing!

[queen grove]

Nope. SLP or ILV? It might be worth it to stake SLP but probably not.

[pure bronze]

Damn common.. pretty frustrating

[queen grove]

It REALLY is

BTW SLP current price is 3363.46 answering my own question. Where are the mods? Who isn't up at 3 in the morning?

[lavish egret]

I am new to crypto so I am planning to only invest $100 into the LP. Should I stack in ILV or sLIV?

[brisk surge]

if you are only doing 100$ youd want to just buy ILV and have it sit on the exchange, you won't be able to stake it because the gas fees would kill you. Im just putting in 100$ a week until the v2 comes out and then i may LP with the eth i have if it seems worth it

[ember ginkgo]

Hmmm somebody just told me they can claim with hot wallet but not with trezor. Anyone know about this?

[brisk surge]

Does the staking compound daily?

[timber sequoia]

its not auto compound

[brisk surge]

Thanks for the reply, appreciate it.

[timber dust]

what is the staking APY?

[ember ginkgo]

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

[rough sundial]

i tried to INCREASE my staking in the Sushi LP but got error message to redeem rewards first... but rewards are vested so cannot stake. is there a way to incease stake in Suship LP?

[brisk surge]

How do you buy your ILV? I swapped for mine and paid $100 just in gas. I considering doing coinbase pro on-ramp then send to Kukoin.

[sturdy crest]

I use coinbase pro on-ramp then withdraw to Binance 😬

[jovial root]

I go Fiat to USDC via exchange, then send that to my MM wallet, and then do swap to ETH via Sushiswap.

Not suitable for everyone, but feels like I pay less fees etc

[jovial root]

Firstly remember any DM will be a scam, so ignore all Direct Messages

[jovial root]

So not sure about the Vesting part. My understanding was you can leave that as is, and it will continue receiving rewards.

And so when you go to stake new SLP, it will ask you to claim your rewards (select ILV) and then it should claim from both pools, and then stake (so I think it is 3 transactions in total)

[jovial root]

#🥩〕staking message

[tiny void]

How much longer is the 300 apy+ going to last?

[teal talon]

guys Is buying slp safe rn? since sILV is compromised, and if it is can i buy slp and wait to stake in v2?

[tulip folio]

If I'm not mistaken if you start the transaction with the staking then it would both stake your new SLP and claim the SLP rewards in one transaction, then claim regular ILV in another. So 2 transactions.

[fossil swan]

I'm losing faith in this project, I'm not getting any rewards for many days! I initially started getting them. Asked for help no help except scammers trying to scam

No dev contacted me wth!!!

[brisk surge]

Bro they're working and they're aware of the issues. Be patient and u can try contacting via telegram

Will we be able to stake slp in the v2 contracts?

[fossil swan]

Bro I get contacted by scammers and dev is not acceptable!!!

[atomic lagoon]

yes you will be

[brisk surge]

The devs are working on fixing the solution and they also announced information. If you bought sILV before the exploit took place you will be supported when V2 arrives

[ruby pilot]

damn what the heck just saw there was the exploit. bummer. Maybe time to buy more though 🙂

[open saddle]

Hi guys, silly question if someone can help me please
i just bought 1 ILV token, i would like to Stake it but i see there is a gas fee to allow the website to allow to stake?
is this normal and does this happen everytime i want to stake?

[gloomy gazelle]

ILV is fine. But don’t buy sILV.

[gloomy gazelle]

That is correct. 1 fee as token use approval. Second much larger fee to deposit. But make sure you are on the proper site. Don’t trust DMs.

Gas is stupid high today. Don’t stake 1 ILV. Actually don’t stake 1 ILV until v2 staking is live. Check pins for more info.

!staking

[woven ibex]

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

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

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

[heady parcel]

do we receive more pending rewards from staking in the slp pool when price is lower? it seems like I'm getting more rewards lately but i could be wrong

[stoic ridge]

@gloomy gazelle what L2 is ilv considering staking on?

[cunning perch]

V3 will most probably take the taking on IMX. A lot has to happen before than.

[lime rain]

Hi guys, newbie question.. I just bought 0.15 eth.. Would this be enough to stake? I'm also considering using it all to buy silv right now and hold it until the game is released.

[cunning perch]

staking ETH? watch out for scam. ILV does not stake ETH

and DON't BUY sILV

[tight hazel]

Anyone else getting an error when trying to stake? 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":{"code":3,"data"

[cunning perch]

yes been happening for like 3-4 days. SLP claiming/Staking has issues atm

[tight hazel]

Sigh

Aw well, glad I'm not the only one, I guess I'll try again later or wait for v2, I assume it's related to locking down things for the sILV exploit mitigation

[cunning perch]

em, They are working on fixing the issue before V2 so ppl can claim/stake. Stay tuned for the announcement

[lime rain]

srry.. i mean, what would be the best thing to do with my eth rn hehe.. Should i convert it to silv or ilv? srry for these newbie questons.... im new to this lol... its my first time playing p2e and spending real money haha

[cunning perch]

for now remember DMs are scams.

Also, since your investment is small, I would suggest waiting for V2. If you wanna stake, you can ONLY stake ILV or SLP (Sushi Liquidity Pool token) but 0.15 ETH worth of ILV, I wouldn't stake it tbh. I would use it in the game when it's out though

but that is NOT a financial advice

[lime rain]

thanksfor the answer 🙌 . That's what I'm thinkin considering the gas fee.. So I'll just wait then until V2 is released then ill buy silv?

[cunning perch]

you CANNOT buy sILV. Don't think about it. Just use the ETH in the game if you are planning to use it in the game

[lime rain]

ops.. got it.. I'm just kinda confused.. I thought sILV is what u use for in-game purchases.. Thanks again!!

[tight hazel]

You're right about sILV being the in-game currency. However, it was only ever meant as a reward to distribute for people who were staking ILV or SLP. Previously, there was an unofficial Uniswap pool where you could buy sILV off the open market, but due to a recent bug in the sILV smart contract, the team has declared the old sILV null and void and anything you buy now won't be usable for anything, so please avoid it. When staking v2 comes out, there will be a new contract address for sILV and maybe whales will create another unofficial Uniswap pool.

[cunning perch]

yes but you have to acquire it from staking. Howver, ETH is the main currency

[lime rain]

Thanks again for the details. Guess I'd need to watch more YT about how these token works.. Imma head out

[lime rain]

I seeeee.. massive thanks for answering my questions guys! really appreciated!

[open saddle]

yeah i am gonna wait for V2 before i do any kind of staking - thanks
So its normal about the gas fee then when i want to buy ILV
I assume this is everytime i want to buy.
i will save up and buy a few tokens - the price is dropping so nicely its making it really affordable to buy some.
Thanks for the help

[viscid otter]

gas fees are normal but they are really high atm

[open saddle]

Yeah max high - I’ll wait a little - no rush to buy with all the crypto crashing

[viscid otter]

you can still buy ilv on exchanges like binance without gas fees

[open saddle]

Oh really ? Problem is I’m from South Africa and our banks reject any cards when trying to buy crypto

So got to work around it and the only way I can is through another app which charges for the exchange and buying of crypto

Most likely will end up being the same cost as if I went through Binance or through the app I have

[severe igloo]

Does SA reject Coinbase too ? What about kucoin ? GateiO ? FTX ?

[hybrid bison]

how long until staking fixed?

yeah they wont let you harvest

[craggy cliff]

v2 staking is set for Jan as best as I can tell

[hollow vapor]

I’ve got 4 ilv locked for a year and 60 days have passed as of writing. I started at around 40% apy and it’s down to about 32% now.

I get that, but what I don’t get is I currently only have 0,17 ILV as rewards. Shouldn’t it be higher as 1/6th of time has passed with those apy returns over that period?

[elder dawn]

That's pretty much right on, particularly with how the pool population has moved for the past couple months. If the pool holds at the current rate, you'd expect ~1.2 ILV in a year, as of now, you'd expect a little under 0.2 ILV. It's pretty close. Both pools seem to be accumulating correctly to me.

[real spruce]

how does this math work for SLP?
5 SLP staked = .0079/hr
.19/day ILV
I got this from reading posts from yesterday

is that .19 SLP or just ILV
also where did the .0079/hr calculation come from?
thanks!!

[hot latch]

Hi all any updates as to when we can stake SLP again, or is 100% confirmed it wont be allowed until V2? Many thanks

[scenic crescent]

its just ilv 😉 and I think the calculation comes from monitoring over 24hours for example

[real spruce]

ah ok, thanks! ill have to stake and find out as well. thanks!!

[vagrant patrol]

It's principle times APY divided by the number of hours in a year

[hot latch]

Will we able to transfer and entire balance from wallet x to y after V2? or will have to unstake transfer to new wallet when vesting period complete?

[autumn cloak]

You can transfer stakes that are unlocked on V2. Locked stakes no

[hot latch]

Cheers mate... you know anything about this one....Hi all any updates as to when we can stake SLP again, or is 100% confirmed it wont be allowed until V2? Many thanks

[autumn cloak]

99% sure we won't be able to do SLP stakes again until V2 yeah. Something about sILV in the contract

[hot latch]

yeah ....as i understand when staking/unstaking even if no interaction with the sILV 3 party contract, theres a small amount of dust transacted in sILV when staking/unstakig/claiming ILV which i was unaware of. i wondered if they would ASAP fix it as people are loosing a lot with SLP sitting in wallets unstaked...

me lol is th people lol

[autumn cloak]

I think they are more trying to get out V2 ASAP. So hopefully your problem will be fixed soon. Aaron I think mentioned they were putting as many people on getting V2 out as possible trying to expedite the process

[hot latch]

yeah i realize mate but i,m losing shit loads providing liquidity and getting fuk all for it, i know shit happens but i thought since they effectively forced closure of the 3rparty contract we could extract it from the staking contract no?

[autumn cloak]

tbh I'm not sure. But I forgot that you could stake it from a new wallet if you wanted since there wouldn't be any claims there

[hot lynx]

+1 agree some people are not effected by this and or fail to understand

[hot latch]

Your correct mate Pelican just said thats way round it chhhheeerss mate

[hot latch]

See above mate just stake from new wallet with no reward to claim and your good

[hot lynx]

Ok how about the current SLP I have ? It has sILV dust

[hot latch]

well i,m in that situation so i,m gonna move my current wallet staked SLP unstaked to new wallet then stake from there bit gas but if do it internally on MM then get 50 gwei be about $15

[hot lynx]

You can unstake it with the sILV dust issues

[strong wyvern]

Yo team - any update on when the staking dashboard will be working again to claim rewards and stake etc?

[hot latch]

no no mate only NEW minted SLP not prevoius staked unless unlocked then can move it to fresh unused wallet then it be fine is my understanding

pelican is man to ask

[gloomy gazelle]

So at least with a ledger you can import your mm wallet onto there. And then use it only on through the cold wallet. It’s not as good as a ledger seeded wallet but it works.

[hot latch]

yeah but trezor wont let you import

[hot latch]

So worst case i try it it dont work then i just need double gas trip, but SLP can defo be transferd to standard ETH Trezor wallet yeah? wont get lost or somthing lol

[autumn cloak]

If Trezor supports ERC20 I don't see why not. It works on ledger so it can't be that different

[hot lynx]

Current locked SLP with sILV rewards and flex SLP subtract
Is the current staking issue that has the freeze due to sILV dust and the new V2 build is my understanding

[gloomy gazelle]

It’s an erc20 it won’t get lost. But you’ll need to know how to access it properly

[hot latch]

access it properly ? what you mean mate its just a eth wallet i set up on trezor will the SLP not show up automatically or do i have to add the contract or somthing like MM

[gloomy gazelle]

I updated the pin to include the new wallet work around for depositing new SLP.

[hot latch]

Dont i just send it then add slp on the mm interface?

[hot latch]

ok mate i go check that

[gloomy gazelle]

I don’t use trezor so I’m not sure. On ledger some erc20 tokens don’t show up on ledger live. But if it’s connected to metamask it works.

[hot latch]

I mean i would wait for V2 but if there are significant delays i could loose a significant amount of ILV rewards in a month ....guess i do the math and see ...if new it was gonna be 10 days ish 2 weeks max would prob wait but these things can often get delayed as very complicated ....what do ya reckon mate?

[hot lynx]

Hi @gloomy gazelle good morning mate. It's a Busy and crazy time 🙂 ATM. Is this still the current situation ?

[craggy cliff]

correct

[hot lynx]

Thanks for the reply and confirmation Kakashi that's my experience also

[gloomy gazelle]

I assume it won’t get fixed until v2 staking launches.

[unique vine]

when V2
``?

[craggy cliff]

wen indeed. probably Jan

[gusty copper]

Hi, is there a way to know how much tokens i get daily from staking? is there a calculator somewhere? Thanks

[gloomy gazelle]

This pinned message #🥩〕staking message

[gusty copper]

Thank you

[sonic lotus]

I'm almost 100% sure that the return on 5 SLP is higher than 0.19 / day.

[queen grove]

0.19 ILV/day?

[sonic lotus]

@queen grove was saying his 5.12 SLP is earning him 0.19 ILV / day.

I'm almost certain it's more than that.

[queen grove]

You're welcome to post your numbers and we can go through it. The only thing more I can do is post screenshots and I don't feel like it.

[sonic lotus]

Yea we don't need to share screenshots hahah! 🙂 I'm just wondering cause i have a little less than 5 SLP but the yield is higher than what you wrote.

And I could be completely wrong, but just sharing from my experience

[queen grove]

I'm betting my next 5 years on this project. I'm certain of my math. What are your SLP rewards?

[sonic lotus]

I'd need to calculate it but last time I checked it was roughly 0.21 ILV per day. Not a huge difference from what you said to be fair. but yea I have under 5 SLP.

But yea either way we still both winning. My intention wasn't to call you out or anything like that! Hope you don't feel that way haha 😛

[queen grove]

All good. I always talk harder than I feel about my math. I'd check again. With the drop to 330% APY it might be closer to what I posted.

Oh dammit. I forgot, we might not have the same weight. Half of my stake is posted at 6 months or 1.5 weight.

[sonic lotus]

Right yea that's where the difference is! All of my stake is locked for 12 months!
hahaha i knew something was different! 😛

[mighty rover]

How much ILV and ETH do I need for 1 LP?

[sonic lotus]

Just search up ETH / ILV Zerion

[hot lynx]

might be closer to .24 and dropping every 2 weeks very slightly on the 3% APY adjust if it's all at 2x weight.

[sonic lotus]

Yea it is actually closer to .24

[hot lynx]

Glad I could help mate 👍🏻

[idle sapphire]

Hey guys what is Rev di? I have 20 ilv staked since 4 months ago and wondering now after checking discord about v2 and revdis. Help appreciated. Claimed 1 silv once

[coral pike]

100% of any money the DAO makes on ANYTHING ( not just the game) get return to ILV stakes as REVDIS for example if the DAO makes $1 million then it would be distributed 1 million / amount of ILV staked + weight per individual ILV coin as the DAO 's revenue streams have not started yet neither have REVDIS

[signal wraith]

i am getting an error when i try and claim anyone else experiencing this?

[mighty rover]

I don't really understand the info presented. Does it mean that 1 LP token is approx $3320?

[sonic lotus]

Yea so it essentially means you'd need $1600 in ILV and $1600 in ETH to make 1 SLP.

[mighty rover]

Oh I see. Thanks for the info!

[sonic lotus]

If you scroll down the page a little you'll see the "underlying tokens" and that will show you the exactly what the make up is.

right now its:

ETH : $1671
ILV : 1649

[mighty rover]

Yes, I see it now haha xD New at this. Okay thanks. So apparently that's how you check the composition of the LP token. I wasn't sure if that was the composition for 1 LP or what.

[sonic lotus]

Yea it took me time to learn also! Yea that's the composition of 1 SLP Token.

[gloomy gazelle]

Yeah. Check the pins here. It’s busted due to the sILV response

[narrow merlin]

Where can I see this? On staking page?

!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]

No he’s talking about using Zerion app I believe.

[narrow merlin]

Ok

[sonic lotus]

yea google zerion ILV / ETH you'll find it

[open saddle]

Its not that SA rejects those platforms, its the banks here wont allow us to to make any payments towards crypto.
The only way around it is a use a SA app that allows us to transfer money into their account then using those funds i can buy crypto, then i need to transfer that crypto into Binance if i want.

Problem is this app donesnt support all cryptos. So i generally transfer into their account, then buy my ETH, then send to Binance, then convert the ETH into what ever other crypto i want....

Its really annoying

[real spruce]

is staking back online?

[small island]

can it be that the accumulation of LP rewards is less than 330% or stopped ?

it does not seem that there currently is a 330% APY, or my math is very wrong

(that is for a 1 year lock up)

[median canyon]

They have not stopped. But will be turned off shortly.

[small island]

will be turned off for the transition to v2 staking ?

[real spruce]

if I want to stake 10ILV and its equivalent 2.5eth, should I stake now or wait.... ?

stake SLP now or wait for V2

[median canyon]

Yes. The plan was to turn it off as v2 was implemented. With a window before. Now we need to extend that because some people can’t do things.

[median canyon]

I would get the LP tokens now so you start getting the fees. And stake it after v2 launch.

[real spruce]

👍 thanks for the help, ill spread the knowledge around as it was a pretty common question the past few days.

[short tiger]

If you're on Binance, shouldn't you be able to purchase USDT via the P2P section. Simply transfer your local currency to the seller's local bank account and then convert to your desired crypto

[tardy plank]

@median canyon Hi Aaron. Trust you are well. Long time, substantial ILV holder. Unfortunately don't have time to visit Discord too often. I know there has been some discussion re. V2/Migration etc. Went to claim some LP rewards this evening (cheap gas) and found there is an App issue...also catching up on some Discord threads and see some mentions of staking being switched off during V2 migration. Is there some context re. the V2 migration, implications for stakers...I trust vesting will not reset for rewards...I am 6+months in; and clear time frames for what happens when and if/what actions stakers need to take. Many thanks

[severe igloo]

Hello #🥩〕staking pinned messages, first one of pélican

[ruby reef]

On the staking platform ...dashboard, rewards and vesting are on " 0 " right ?

Ok i see already " working in process "

🙏

[median canyon]

What is happening is that you are what we call a 'whale'

And so when you go to claim, by the time you've claimed there is some new rewards

and because of how we dealt with that initially (badly) it needs to mint sILV

When you combine that with the fact that we had to turn of sILV minting it means you get stuck

v2 deals with all of this and would have been released already, but because of the security issues we have to tweak it.

[keen sky]

I’m kind of in the same situation as Danny. Can you clarify what you mean by “start getting the fees”?

[tardy plank]

Hi Aaron. Many thanks for the prompt response - really appreciated!. Probably first and only time I will ever be called a 'Whale' - however I'll take it this evening 🙂 Read some of the material Mathias kindly pointed me to. - think I understand. Wishing you, Kieran and the wider team continued success...I know you guys are getting close to the pointy end on a number of workstreams . Heres to a massive '22,. Thanks again

[weak notch]

i need some help... all my pending rewards are 0 now

[atomic lagoon]

they are doing some minor updates. please wait. you check see the discussion in #💬〕general

[median canyon]

If you lp you get a percentage of the trade volume as a fee paid to you.

[keen sky]

Ohhh I see. This is entirely separate from staking rewards?

[median canyon]

Yep

[median canyon]

It's because there are trade fees from sushi. and our staking just happens to use sushi pools

[queen grove]

Where would we see those fees?

Ohhh...I think I see how the attack happened.

[keen sky]

Got it, thanks for your help. I’ll get the LP tokens tomorrow and hold off on staking until V2

[outer minnow]

How many ilv do you need to stake ?

[median canyon]

I suggest over 100,000

[queen grove]

Where would we see those fees?

[past falcon]

I have a question: I staked in the SLP a long time ago and would now like to buy LP tokens.
I would like to use a different MetaMask address for this. As soon as v2 is ready, I would then stake the new investment in the SLP on v2.
Are there any problems in the future if I have to claim the rewards with two different addresses and one part being on v1 and the other part being on v2?

[torpid venture]

Sorry this has probably been asnwered, but is "No Header Found" when trying to stake LP tokens right now normal?

[queen grove]

They're working on the LP pool right now. I wouldn't try to stake just at the moment

[torpid venture]

Yeah the message just popped up now... thank you!

[pure wagon]

can i ask my staking reward was recently gone

[cunning perch]

The team is working on some issues particularly on SLP. (it is written in the staking website) Sometimes it shows 0 and sometimes it shows everything. Be patient and it will be fixed.

[pure wagon]

my vesting coins of ILV also gone. that was registered in my wallet

[pure wagon]

thanks for the reply im so scared right now

[cunning perch]

DOn't be. Mine also showed 0 and after 5 minutes I checked at it was all there. It's a website thing, has nothing to do with your tokens on the blockchain 🙂 (watch our for scam DMs)

[pure wagon]

thank GOD i am refreshing it right now. hope all is ok

[cunning perch]

It will be fine no worries.

[umbral egret]

Hopefully it comes back fast here 😅 need to claim haha low gas fees

[silk meteor]

@cunning perch hey Arash is claiming Core pools reward working now? I saw a couple of days ago people getting error messages

[cunning perch]

SLP yeah it has errors when claiming/staking/withdrawing cuz sILV claims are off so you will also have issues with ILV claims. The website currently is undergoing some fixing and apparently MetaMask has difficulty loading funds too. lol lots of errors for a day 😄

[pure wagon]

is it safe to claim vesting and rewards today?

[silk meteor]

Thanks 😊 can’t wait for staking v2 mate!

[pure wagon]

i tried to claim the reward it was successful in etherscan but not reflect in my metamask

[cunning perch]

Wait for the fix first. Better not to do anything until they are done working on the website

[cunning perch]

me 2

[cunning perch]

yeah as I told you, website is a means to start a TX, it will be done on the blockchain. So you'll be fine no worries. Don't rush.

[pure wagon]

crap. hope i can claim the reward after the fixing. i already withraw all the rewards right now

[cunning perch]

em....you can't withdraw rewards even if everything was working right. they are locked.

[pure wagon]

i withraw the reward recently. and my metamask used already a gas fee for the transaction

claiming was clickable for me

[cunning perch]

you have claimed your rewards, not withdrew them. Unless they were in sILV

and sILV claiming is not working atm

[pure wagon]

oh i see. my bad it was just reflect in my vesting

[silk meteor]

Arash some imposter friend requested me just now! I felt honored until I checked it’s not your number 😂 also means this scammer is watching us scary 😧

[cunning perch]

ah. damn. report him plz. I'll send a fr now, but make sure it's me

[sonic lotus]

Hey guys, just want to confirm. So the consensus right now is to buy SLP (from sushiswap) if that’s what we want to do but we can’t actually stake until issues are sorted and V2 is implemented. Is that correct?

[cunning perch]

buy SLP, No, Get SLP, Yes. And if you are staking anew, No, there is no issue. Staking on top of your stake, Yes, there is an issue. 🙂

[silk meteor]

Lit!!! I accepted it! Scammer withdrew his request 😂

[cunning perch]

noice

[sonic lotus]

Yea sorry, I should have been clearer. Swap ILV and ETH for SLP. That’s still ok from my understanding. And as I’ve already got a stake, I will be unable to add onto it. So I’ll have to wait for V2.

[cunning perch]

yep 🙂

[cunning perch]

ofc he did. They are %^£&%^&£

[sonic lotus]

Thanks Arash! 😁

[cunning perch]

anytime 🙂

[silk meteor]

I was away from discord for a few days..what’s this LP tokens being mentioned now? Is this new and different from SLP?

[cunning perch]

Nothing. Just don't claim anything or add a new stake until it's fixed.

[undone forum]

Does anyone know when the first day of V1 staking was available?

[sonic lotus]

LP token is just SLP right?

[cunning perch]

July 1st 2021

[cunning perch]

for ILV, yeah.

[silk meteor]

That’s what I thought and shared that with friends who followed me-aped in recently. Just need to be patient while Team figures it out

[cunning perch]

yeah It's been figured out sor of. Just needs time to be implemented

[silk meteor]

That’s good to know thanks 🙏🏻

[undone forum]

Thank you!

[gray crag]

when I go to the staking page, it says I don't have any positions....are all balances not visible right now? Is there another page I can go to see my balances?

[cunning perch]

#🥩〕staking message

[gray crag]

ty, been on the beach for the last 2 weeks, just got home now

[cunning perch]

👀

[slender hound]

hi, apologies if this has been answered, are staked SLP and ILVs still earning their respective APYs while the incident is being resolved?

[cunning perch]

the incident was sILV based. Yeah rewards have no issues

[fickle whale]

Any idea of when V2 will be implemented?

[ember ginkgo]

"soon"

[small island]

As SLP rewards cant be claimed, there are multiple users who have a larger amount of accumulated rewards. When I read right, then we would be able to claim the rewards (as ILV or sILV) with the upcoming v2 staking. How long will claimed ILV be locked ? in v1 it is 1 year, how long in v2 ? I think I read somewhere 2 years, is this correct ?

if it is indeed 2 years in v2, has it been discussed if already accumulated rewards get a 1 year lock up time in v2. As opposed to 2 years

[coral pike]

@cunning perch

[fickle whale]

Is it possible to transfer SLP (ETH+ILV) from a metamask wallet to a new one? Then, I could stake now as a new stake

[cunning perch]

All ILV rewards will be locked for 1 year after the claim regardless of the contracts V1 or V2

[ember ginkgo]

Arash changed pfp? Did we get to vote over this? This is NOT ACCEPTABLE

[cunning perch]

DS change required a PFP change 😎

[ember ginkgo]

I'm not getting rid of my Lizard

[craggy cliff]

What?! who is this new Arash fellow. I don't recognize that PFP..

[median canyon]

They are given through sushi. You should get 0.25% of all trades based on your percentage of the pool.

[cunning perch]

It's me. Your friendly neighborhood Arash

[craggy cliff]

Will we see your PFP grow into a Ryplance as your ban hammer skills increase? 🔨

[cunning perch]

Might turn it into an Illuvial with Nuking power

[coral pike]

FYI that pfp does not give the impression of "friendly" 😆

[cunning perch]

Ikr 😄

[craggy cliff]

https://tenor.com/view/pepe-nuke-apocalypse-meme-gif-9579985

[median canyon]

Just fyi the issues seem to be with metamask and subgraph. But we are making a change so that it says 'cannot retrieve balance' rather than '0' which is scary

[rare stratus]

anyone else having issues claiming ilv presently? I know silv claims are locked but thought we'd still be able to claim ilv in the meantime? also, any updates on when the migration to v2 contracts will take place?

[hybrid bison]

my staking when away and I cant see where it went

[noble bridge]

i was just typing the same thing, so I assume everyone having the issue

[rare stratus]

hmmm... that's mildly disconcerting following the recent exploit...

[craggy cliff]

they were working on website earlier today. Also I believe it was Aaron that said they were pausing staking before they are able to start implementing V2. Could be related to this, either way, don't stress and know they are still working things out.

[rare stratus]

thanks for additional context

[noble bridge]

any mods around

[cunning perch]

Yep. Just got home

[noble bridge]

there someone pretending to be mod dming

[cunning perch]

Send his full ID here #🚨❗〕report-scammers and I'll ban him

[trail iris]

My staking rewards are about half what they usually are today, anyone getting something similar?

[coral pike]

#📣〕announcements

[noble bridge]

did you dm me?

[cunning perch]

Nope.

we haven't talked fo quite a while

[noble bridge]

ok they pretending to be you man

[coral pike]

@cunning perch so you have yet another impersonator 😆 how many is that now 100000000

[cunning perch]

They never get tired. The have no shame and no soul and I wouldn't call them humans.

[small island]

Ok. Will there ever be a 2 year lockup ? Or was this dismissed in favor of 1 year

[cunning perch]

Nope. Unless the community wants it and council approves it.

[craggy cliff]

was voted down to maintain 1 year instead

[sterile grove]

can i check for the rev distribution? does the SLP stakers get it too? or its just single side ILV staking?

[cunning perch]

NOt yet you can't as it's not started yet. Yes SLP gets it, but only the ILV portion of it, not ETH

also watch out for scammers. They tend to DM you

[sterile grove]

ok thanks. appreciate the reply

[autumn verge]

how many ILV are staked / eligible for rewards from the land sale?

[vast rampart]

if only there was a way to force people to turn off their DM's on the server before they can access any of the channels

scammers would prob have to move on since only a few people would have DM's on in the server

[autumn verge]

Has anyone calculated what the estimated rewards assuming $100 mil is raised in land sales?

I tried and came up with a number like 0.12 per ILV staked excluding the multiplier. But I'm not sure how accurate my calculation is.

[amber wharf]

Hello would you guys think 1.2 ilv is good value to stake or is it not worth it?

[brisk surge]

So, given how the market is going down, what happens if a person gets their LP liquidated?

[sonic lotus]

Are you planning on getting more?

[amber wharf]

Perhaps, I would like to see how the game is when it launches. As not sure if I'll be interested in playing but who knows

[sonic lotus]

Ah if you’re not interested in getting more soon, I’d say yea just stake it. If you are more bullish and wanted to invest more I’d say try stack around at least 3 ILV and then stake it to not have to pay multiple gas fees. This obviously isn’t advice, I’m just saying what I would personally do.

[tiny dawn]

It is also perfectly okay to start small and grow big slowly. If you are cautious about the project.

[amber wharf]

I appreciate your advice, if I did do that ill be heavily invested in just this project I want to try and diversify a little, although I do like the look of illuvium. Just a bit concerning with the recent hack but hoping its only a blip and will be corrected soon

Would you recommend locked or flexible for me with such a small amount?

[autumn verge]

If you are going to stake, I recomend at least 1 month or wait for V2 to be released.

flexible will go away once V2 is released

[sonic lotus]

*not advice hahaha!

And that’s completely up to you! It sounds like you don’t have a large networth and this is already a substantial amount of your capital. I would say flexible but as BTC-stack mentioned flexible won’t be an option so the fastest lock is 1 month

[autumn verge]

if you stake flexible, you will have to unstake (no more rewards) and restake for at least 1 month once V2 is released.

realistically gas fees will eat up a large % of what you will make.

[amber wharf]

So better to go locked as flexible will soon be removed?

[autumn verge]

with only 1.2 I would just wait for V2 to be released plus also to be worth it you would want to stake for 6+ months just to cover gas fees. I don't know if it is worth it for you to make that kind of commitment. That's up to you to decide.

[amber wharf]

No I appreciate that. Will V2 likely be released before the game does or does noone know that?

[old mauve]

If there are $100M in land sale revenue from ETH then I think you are pretty close. I come up with about 0.1 ILV per ILV staked. For some other numbers to consider, if all the land is sold for it's current starting price (which may be close considering prices are being increased by about double) then the land will be sold for $165M at an ETH price of $4000 or $132M at an ETH price of $3200 (this excludes the 2 T5 land). Assuming half of the land will be bought with sILV (therefore no revdis) then it is either $83M or $66M in revenue. This would result in 0.06-0.08 ILV per staked token with an assumed ILV price of $795.

[autumn verge]

I think it was scheduled to be released in the next few weeks. But that was before the bug.

[amber wharf]

And this will greatly reduce the gas fees?

[autumn verge]

yes V2 will reduce gas fees. I'm not sure the exact %

[amber wharf]

Ok, thanks for your help

[autumn verge]

fyi claiming rewards right now costs $134 using 94 gwei

[wooden moat]

I dont think claiming is working right now. Keeping getting gas estimate errors

[cunning perch]

SLP claims have issues. Soon will be fixed. Watch out for DMs they are scams

[rain wind]

Yo bois just joined is this the official ilv staking site? https://staking.illuvium.io/

[agile fiber]

Shouldn't this go out in an announcement? Especially if gas goes through but no claim happens. Hate to see ppl lose ETH

[cunning perch]

Been said many times throughout days even by Devs. Another one is coming soon with the issue fixed

[cunning perch]

!staking

[woven ibex]

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

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

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

[dawn lily]

Sorry if this questions has already been answered somewhere, but I’m wondering what will happen if it is decided that the new sILV token is distributed on a L2, but the wallet I have my sILV in is not compatible with that L2? Can I use another wallet to claim my sILV?

[cunning perch]

There will be instructions. Wait for the ain't announcement and HOW-TOs and report DMs as they are scams under whatever name.

[dawn lily]

@cunning perch Ok, sounds good. Is Metamask still the wallet most people are using for Immutable X? Do we know if any other L2s are being considered for sILV?

[cunning perch]

Anything on L2 is still being worked on. MM is not L2 compatible. ILV will be using IMX in the future

[halcyon ore]

But MM can use IMX and other L2 too. What is incompatible? MM as metamask right?

[dawn lily]

Gotcha. I did not realize MM was not L2 compatible. Is there a wallet people prefer for L2? I am using Argent with zksync currently.

[cunning perch]

Yeah. To use the game and IlluviDEX I know we have to move funds to IMX wallet which atm is not compatible with ILV. There will def be instructions how to do it. Kinda keen to see if land can happen on L2. Could be the first L2 interaction by ILV

[dawn lily]

Just got a friend request from a fake Arash.

[cunning perch]

For ILV purposes we will be using IMX as I mentioned. Not working with ILV atm.

[cunning perch]

Send his Full ID and I'll ban him

He's stupid

He knows I'm typing here and sends DM

[dawn lily]

Yeah, very dumb. He’s using Arash | IIIuvimod#3134

[cunning perch]

Using my name to scam ppl. They are not humans. Not even animals cuz animals are creatures that have use and are beneficial for the earth. They are not even scavengers cuz they have their own uses as well.

Send his full numeric ID. (about 10-15 digits)

[dawn lily]

How do I find that?

[cunning perch]

Follow this and send in the same channel #🚨❗〕report-scammers message

[coral pike]

@cunning perch there are not word to decirbe how vile and utterliy discusting they are

[cunning perch]

Yep

[dawn lily]

I see you banned him. Thanks for your help with that.

[cunning perch]

Anytime. I’ll ban them fast if I'm around. Just watch out for any DMs.

[dawn lily]

Will do. I don’t accept any friend requests I’m not expecting or respond to any DMs.

I’m very excited for this game to get off the ground. Sad to see that so many scammers are circling around, slowing it down.

[delicate plaza]

Fingers crossed what ever wallet they choose is hard wallet compatible. I'll be wanting to keep my illuvials safe

[coral pike]

I personaly use ledger

[serene crater]

you need to create a scam patrol)
some users should sometimes specifically ask the admins on the channel for help to help them, for example, with registration, and then quickly collect all the scammers in dm) then report and ban them all)

[delicate plaza]

I do currently for my MM - but I think Arash just said Illuvium itself wont be MM compatable?

[coral pike]

@cunning perch i think there may have been misunderstanding

[cunning perch]

to play ILV, you have to have funds in IMX wallet. It's different from staking. V3 might change that. For now there is no L2.

[delicate plaza]

Sorry should have been more clear myself as well - I am currently using ledger with MM for all the staking. But in terms of using sILV and ETH in game + getting, holding and trading illuvials will be via an IMX wallet which is not currently ledger compatible?

[versed slate]

so for the land sale you can use MM?

[cunning perch]

if not on L2, yeah. If on L2, we'll see

[versed slate]

gotcha

[ebon acorn]

can someone explain me the difference between the 2 possibilities to stake ilv? I mean the 2 different stake options in core pools...

[cunning perch]

I have never heard IMX being Ledger compatible. Maybe it will in the future. Still, imagine having to connect your Ledger for literally any TX you are doing between the game and your wallet. That would suck if you have to confirm on your device all the time. Still, you will only be using it with your game TXs. Not your crypto in general.

[cunning perch]

!read this and you will learn all about it

[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

[delicate plaza]

True that would be a pain. I was hoping maybe that illuvium would be able to read your wallets public address to see what illuvials you had to play with once it's been linked to your account, and you'd only need to plug in to sell them or spend ETH/sILV

[glossy musk]

Hey this might have been answered already, but I cant find anything.. Is it possible to stake from metamask to the new V2 token? Or is this still coming?

[coral lodge]

What does staking mean?

[cunning perch]

well it will be linked to your IMX wallet. From there, you can transfer stuff to MM by paying gas

[cunning perch]

read the docs 3 PM up

[cunning perch]

you can stake on V2 with MM, but you have to wait for V2 first

[glossy musk]

Arash | IIIuvimod#3134 just tried adding me btw, im guessing a spam

blocked straight away, but thought you should know

[mystic thorn]

yes this would be a scam

[cunning perch]

please sent their full ID in #🚨❗〕report-scammers

but seriously that dude is stupid to send DMs while the real one is online.

[glossy musk]

they just prey on innocent people

[cunning perch]

yep. be very careful

[gloomy gazelle]

First rule of scam patrol. Don’t talk about scam patrol.

[rocky yoke]

Hi anybody knows why I couldn't withdraw my SLP tokens from the core pool? The error message says "cannot estimate gas, transaction may fail". Thanks

[final steppe]

Hey Star. You should be able to claim ILV rewards from the ILV pool. But for now, you can't do this in the ETH-ILV SLP pool. This relates to the pausing of the sILV minting function as Aaron announced a little while ago in #📣〕announcements

The sILV mint function is used within the ETH-ILV SLP processes and as such, we cannot currently claim SLP rewards or withdraw SLP tokens until the sILV V2 solution is implemented.

[rocky yoke]

Thanks Remin. Any idea how soon the sILV V2 will be implemented?

[final steppe]

It was pretty much ready to go but then that sILV exploit happened and I believe Aaron had to tweak the contract a bit. So as far as I know it’s being audited again.

I’m just speculating that it may take another 2 weeks… but not an entire month

🤞

Ah! Here’s a comment from Aaron this morning regarding V2 staking: #💬〕general message

[rocky yoke]

Am I correct that there will be seed round tokens unlocked soon? With the way ILV price going recently I am afraid those to-be-unlocked tokens may make it worse. Now with my being unable to withdraw my tokens from the pool it makes me a bit nervous, you know....

[final steppe]

The seed/pre-seed/some team tokens BEGIN unlocking in March but it is a linear unlocking and not all at once.

This pinned message in #💰〕token goes over the unlocking schedule for the most part: #💰〕token message

[final steppe]

But it’s also important to note that those who have their tokens locked up have probably been observing the price action of ILV and should know the potential of it.

The whole market is a bit down at the moment and ILV is over 50% down from all time high… the game launches are still to come around March (if there are no additional delays) and the buying pressure from RevDis will begin and start bringing that token price up too.

[rocky yoke]

Ok thanks again Remin. That unlocking schedule helps a lot.

[final steppe]

No prob! I mean, the way I see it… why sell at $700-$800 when you can see the game revenues start flowing and pushing the price higher 😄

At that point, I’d personally want to stake those puppies and get some more of that revdis

[rocky yoke]

Yeah sure, I am a huge fan of this project! I can't wait to see the game launch!

[final steppe]

⤵️

[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.

[unreal storm]

Can someone help me. My Staking has been stolen.

I haven't been on here awhile I thought I could stake it and forget it. I saw the twitter with the waring and check my stake and it's all gone. I staked back in DEC when ILV was 500 bucks. I am so freaking sad.

Now it's all gone I probably don't qualify for the DAO. I can't stop crying. This is the Wallet I used. 0x74bAfF285a9c36b1BB35C1d82DaD7A30A323938a

Can someone help me investigate or something?

[coral pike]

im not a staking expert but i can tell you if it was Locked its still there nothing can move a locked stake not even the dao itself ( as far as i understand it)

[unreal storm]

is there a way I can check?

I locked it for 12 months when I set it up.

[brisk surge]

Check etherscan

That will let you know whatever activities you had on your account

[unreal storm]

I am freaking out I am so sorry.

[coral pike]

what does it say in your vesting tab at https://www.illuvium.io/

click on the staking tab

[unreal storm]

I connect my wallet go to the core staking where I set it up and it's asking me to stake again. The last time I check it showed me how much I was earning.

[coral pike]

@unreal storm **IF YOU GET A DM RIGHT AT ANYTIME GET THE LONG ID AND POST IT IN **#🚨❗〕report-scammers

[coral pike]

check "vesting" tab

[unreal storm]

Looks like you have no vests
Select a pool, stake, and your vests will appear here.

[coral pike]

is you wallet connected ?

[unreal storm]

Yes it shows the address

[coral pike]

@median canyon <@&795142782133207063> can you please help @unreal storm with her concern

[unreal storm]

Ugh I can't deal with this. I can't hardly see the screen from the sobbing.

[brisk surge]

I maybe too forward but I helped check etherscan. The address above does not have ilv staking on. You can try checking if you connected the correct account

[coral pike]

@unreal storm as i said I am not an expert i have asked mods and the admin to help you though they no morethan me

[unreal storm]

Ok let me take a breather and do more research. I need to go shower and calm down.

[brisk surge]

0x74bAfF285a9c36b1BB35C1d82DaD7A30A323938a … this account does not have any staking or ilv history. Do your research again

[unreal storm]

I am going to connect all my wallets and see. I am hoping I am just an idiot cause I am freaking out.

Thank you. I am going to take my freeak out Tweets down cause I lost my shit. Sorry.

I'll check back later and let you guys know what's up.

[elder dawn]

I would try connecting your wallets to zapper.fi, as it should quickly show any staking you have. Take a deep breath, as if you locked for a year, there is no way for anyone to have moved or removed your stake.

[unreal storm]

Can you check this one? Cause sent it through my CB wallet to MetaMask 0x52D4B80Ceb8645C1E3b3b5DAba9c6667820c9766

[final steppe]

Take a breather 🙂 And yeah, if you locked your tokens for 12 months, at the very least you will still see that they are still staked on the Illuvium site. No scammer (or anyone) can take them while they’re locked up and staked

[brisk surge]

Not there as well

[crimson cipher]

I don't see an ILV transaction on etherscan https://etherscan.io/address/0x74bAfF285a9c36b1BB35C1d82DaD7A30A323938a

[final steppe]

~~Hmm, not seeing any ILV on there ~~
ILV is also not available on Coinbase-- so perhaps another wallet that you used
(oof, quick to jump to conclusions... thought I clicked full list... definitely misclicked)

[unreal storm]

I see this in my wallet

https://etherscan.io/tx/0x6bff98f0672147026c3b11d60b3564f414d5335f9d547f534cc4386d7bd8837a

[crimson cipher]

you see nothing in the vesting tab?

[unreal storm]

I connected both my MetaMask and DB wallet and nothing

[crimson cipher]

https://staking.illuvium.io/vesting

with this wallet 0xe7342932ac794eaea5e70ffeffa566f3006bbe13

[coral pike]

@crimson cipher could this be relevant ? #🥩〕staking message

[unreal storm]

no... it's not propagating that I am vested or staked at all

[dusky rock]

Are You also sure that You are using right network - mainnet rather then polygon?

I would recommend to close browser fully and then try again. Also the wallet that Your provided at the beginning is different from the one where You linked TX with ILV.

[cunning perch]

Maybe it's still the internal MM issue that shows balance 0. Unless you haven't found anything on Etherscan.

[crimson cipher]

there is a stacking operation on this wallet 0xe7342932ac794eaea5e70ffeffa566f3006bbe13

[unreal storm]

I am trying to think how I did it it was a long time ago.

[cunning perch]

If so, then it still might be an issue regarding MM not showing balance properly.

[unreal storm]

I couldn't buy it on Coinbase. I think I purchased on Sushi Swap with my CB wallet. Gosh I don't remember.

I never changed my defaults on my coinbase wallet. Its set as default.

So you think it's still there and I am just a dummy?

[final steppe]

So double check that wallet Dumb listed again-- that's where the ILV staking transaction is: 0xe7342932ac794eaea5e70ffeffa566f3006bbe13

And like Spidi was mentioning... click into your Metamask and make sure you're on ETH Mainnet

[unreal storm]

Yep thats what it is.

[final steppe]

Then make sure you're connecting that wallet to the staking site: https://staking.illuvium.io/

If nothing is showing up, try refreshing a few times (I need to do that sometimes)

And if that isn't working, try clearing out your cache in your internet browser settings.

[unreal storm]

Guys I am gonna research more. I gotta go for now. Thank you for all your help. Wish me luck. Thank you for being so kind to me and not making me feel like a total idiot. I appreciate you all SO MUCH. Thank you for making me feel better.

[final steppe]

It's a scary feeling, for sure! Please keep us posted on what you find!

[crimson cipher]

let us know how it goes 😉 we'll be there in case you need it latter

[lament harness]

Anyone else not able to claim ILV rewards? I can't claim from Sushi LP pool without getting a "Cannot estimate gas..." error

[craggy cliff]

answered you in #❓❗〕community-help

[gloomy gazelle]

Check the pins in here.

[tiny void]

When you stake in the core pool, does your collateral lock for a year? Or do the rewards?

[unreal storm]

I FOUND IT!!!!! 0xE7342932AC794EAEa5e70fFeFFA566f3006BbE13 !!!!!!!!

Thanks everyone that was kind and helped me!

[coral pike]

@crimson cipher @final steppe @cunning perch

@unreal storm very good news i am happy for you

[crimson cipher]

yes good news, happy you got everything sorted out 🙂

[craggy cliff]

you changed colors

[crimson cipher]

I did 🙂

[craggy cliff]

grats on mod status 😉

[coral pike]

not bad for a "Dumb Player" are you sure your not just faking being "dumb"?

[craggy cliff]

https://tenor.com/view/working-gif-13505257

[crimson cipher]

it's mainly about competitive games 🙂

[unreal storm]

Thx again!! Can I tip you some Crypto for helping me?

[crimson cipher]

it's ok we were more than happy to help 😉 don't worry

[long shadow]

Is th core pool still open for staking?

[rapid jetty]

I can buy ILV rn and stake it correct?

[real spruce]

staking seems to be back online, it is letting me stake SLP now

contract interaction is taking forever though, estimated at >1hr lol

[gloomy gazelle]

You can choose how long your deposit gets locked for. (FYI flexible will not be an option when v2 of staking launches soon) The rewards accrue every block and when you claim those pending rewards then those rewards are locked for 12 months.

!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.

[brittle girder]

are the staking rewards the same for both pools? you choose eithe silv or 12 month lock up ilv?

[gloomy gazelle]

sILV claims are not working right now.

[gloomy gazelle]

The two pools both get ILV as rewards. But different amounts.

[real spruce]

i just staked my SLP, first time staking, gas fees for the whole process was around $300 at current eth prices

[brittle girder]

Ok sweet, i need provide some liquidity aye. LP pool doesn't get rev dis tho right?

[gloomy gazelle]

Probably. But it’s not necessarily a good idea to stake before v2 launches. Check the pins.

[gloomy gazelle]

LP pool does get revdis. But only on the ILV half of your tokens.

[real spruce]

when is V2 any timeline yet? I should have checked the pins but I just staked 6 SLP, is migration automatic? or will I have to unstake and pay more gas fees?

[brittle girder]

oh for reals? so you'd still get way more than the other pool right? cause they'd have a higher token weight?

[gloomy gazelle]

Yeah SLP staking is costly. Tx time is mostly based on gas fluctuations and how many transactions are on the network.

[gloomy gazelle]

You will be able to upgrade no problem. But it costs some gas.

[gloomy gazelle]

Not really. Revdis doesn’t give more ILV based on pool. It’s just based on all the eligible ILV.

[real spruce]

i hope i didnt shoot myself in the foot by staking now, I want rewards lol

ILV is sitting at such a good bargain how can anyone say no lol

[gloomy gazelle]

6 SLP should be pretty good. It’s not a small deposit and you’ll probably earn enough for it to be worth the extra gas.

Revdis does take how long your tokens are locked up for into consideration. That’s token weight. Upto 2x.

[brittle girder]

so 5 ilv in 12 month lockup would get the same rev dis as 5 ilv in a 12 month lock up that's in the SLP token? just different staking rewards?

[gloomy gazelle]

Pretty much yes.

Technically how the revdis Will calculate is that it will look at all the pools and see how much ILV is in each one. It will divide the revdis into pool size distribution piles. Then within each pool it will distribute that pile of revdis to stakers based on how long they are locked for. It sounds the same. But the ILV only pool and the SLP pool have different percentages of tokens locked at 2x weight so it won’t be exactly the same. I hope that is helpful and not just more confusing.

Plus SLP tokens suffer divergent loss (IL) when the price of ILV outperforms eth. But the yieldfarming rewards should make up for that.

It’s all quite complex but it’s all very good if you ask me.

[brittle girder]

ohhhhh ok nice yeah that makes sense. thanks heaps for the detailed explanation man. appreciate it

[brittle girder]

yeah i was thinkin that aye. once you double your ILV tokens from the rewards it really doesn't matter

i'll probs wait for v2 to start LP

[sonic lotus]

Staking started in July 2021 yea?

[gloomy gazelle]

I personally think if you can afford to lock up for 12 months the long term gains will be easy and worth it.

[gloomy gazelle]

I believe we got to deposit on the last day of June. But the rewards started accruing a couple days later in July.

I can check real quick.

[sonic lotus]

no stress! Just wanted to count how many fortnights it's been and where we are on that chart

[gloomy gazelle]

I was right.

[gloomy gazelle]

Oh check the pins. Lelahel made a fantastic spreadsheet tool that has all that info in it.

[sonic lotus]

Oh great! I'll have a look! Thanks Pelican! 😄

[gloomy gazelle]

Don’t trust anyone that sends you DMs. They may look like a mod or claim to be support. They aren’t. They are just trying to take your funds. Don’t trust someone DMing you telling you about setting up celo.

[woven ibex]

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

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

[long flume]

also hello friend, i hope all is well i need to dm you some important info - trying to get it to all my mod friends. please spread the word

[sonic lotus]

LOL we're only like 14 fortnights in... We have a loooong way to go hahaha

[gloomy gazelle]

Yeah. We just getting started.

[midnight crow]

Is @steady trellis around?

The Illuvium calculator google sheet is amazing. I just had a question about it.

[gloomy gazelle]

I’ve used it a bit what’s up?

[midnight crow]

I am looking at v5. Shouldn't O5 = P3+P4? @gloomy gazelle

and P5 = Q3 +Q4?

[gloomy gazelle]

That’s the old version. But I may be able to check real quick.

[midnight crow]

Oh, where can I find the new version? I found this one in the pinned messages above. Did I miss the more recent version?

[gloomy gazelle]

This is now pinned. V8. https://docs.google.com/spreadsheets/d/1z2co3pS7Yq9Hc86t705tU__d-vGuRp6iTTvHta9gOXE/edit#gid=1097421284

[gloomy gazelle]

I checked. And no it’s correct. They should not be equal. Line 5 shows your ILV as in your deposit amount. The other rows p and q show your rewards earned each day.

[midnight crow]

Thank you! Wow, it sure has evolved.

[steady trellis]

Pelican is my master

(My wife first, pelican second though)

[midnight crow]

Sorry, I am still confused. The boxes in question are on the third tab "1/3y Advanced Dashboard" on v8.3. When it says "Your ILV" under Today's ILV rewards, isn't that the combination of the rewards from SLP and ILV? Oh, wait, now I think I understand. The numbers in R3 and R4 are for 1 SLP and 1 ILV not the number of SLP and ILV that you have. Okay, that makes sense.

[gloomy gazelle]

https://tenor.com/view/what-are-you-talking-about-huh-what-what-are-you-saying-stirring-gif-17820207

[midnight crow]

You are master at google sheets! Your Illuvium calculator is remarkable.

[steady trellis]

Thanks, v9 in a couple of days

[midnight crow]

Are you interested in making the ETH and ILV prices dynamic?

On the summary tab?

[long shadow]

when will the slp pool be ready to stake in again?

[coral pike]

unknown please watch #📣〕announcements

[gusty chasm]

Is it advisable to provide SLP staking now or should we wait for V2? What will be pro & con?

[gloomy gazelle]

Gas fees versus potential rewards.

[gusty chasm]

This means the SLP staking will require to do another tx when V2 is live?

[gloomy gazelle]

You’ll pay probably $300 more in gas to stake/claim/upgrade/migrate SLP that is staked today than to wait for v2 staking. So you want to make MORE than $300 in rewards by the time v2 launches.

[gloomy gazelle]

Correct. Maybe more than one eventually.

[gusty chasm]

Noted with thanks. This equation seems based on how many days will V2 delay

[gloomy gazelle]

That’s correct. And we don’t know when it will be. So it’s a hard call.

[gusty chasm]

Will the reward declining schedule will be prolonged to reflect V2 delay or it will just be the same?

[gloomy gazelle]

No changes. Rewards are still being distributed until the pause when v2 launches. You just want to be sure to get into v2 during the 2 week pause. So you will be earning when it unpauses reward distributions.

SLP is giving over 300% apy for 12 month lockup. That’s not going to take very long on a reasonable deposit to get $300

[gusty chasm]

This is helpful. Any idea what reasonable size is?

[gloomy gazelle]

Another thing to consider is the long term efficiency of rewards claiming. Staking in v2 will cause future claim transactions to be cheaper.

I’ll run some numbers on $3000

[gusty chasm]

But staking rn will eventually need to move to v2 so doing so will still entitle for future claim efficiency once v2 launch isn't it?

[gloomy gazelle]

Part of it yes. But not all of it.

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

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

[gloomy gazelle]

$3000 in SLP at 300%apy should earn at least like $25 of ILV every day.

[steady trellis]

If you’ve a way to make it dynamic and refresh correctly then yes, the few times I tried the price was either missing either lagging

[gusty chasm]

Then it seems waiting for v2 staking is better

If it is not like a month long wait

[sonic lotus]

Do you know if there will be any possibility to migrate multiple deposits at once? Or are we really going to need to migrate every single deposit individually dealing with gas fees every time?

[midnight crow]

Have you tried the way that is in the land sale google sheet? Using the cointracking dot info website?

[gloomy gazelle]

I believe it will likely allow multiple UNLOCKED deposits to be migrated at the same time.

[gusty chasm]

Is it possible to run a math for $5000 locked for 3mth as well?

[gloomy gazelle]

It’s not really hard math.

[gusty chasm]

what is the weighting ration for APY calculation?

[gloomy gazelle]

Oof that gets harder. 3 months would be 1.25x instead of 2x.

187%ish apy for 3 month lock.

This thing makes calculations if you put the info in. #🥩〕staking message

[gloomy gazelle]

Lol it’s like the same. $25 a day.

[sonic lotus]

oh awesome! I'm begging that this is the case.

[gloomy gazelle]

Have you read through the v2 staking IIP?

[gusty chasm]

So if I choose to unlock and migrate SLP then all of my stake can enjoy v2 future efficiency then

[gloomy gazelle]

Well tokens unlock when they unlock based on deposit choices. But yeah.

[midnight crow]

Do you know what determines the price of SLP? Is it always tied to a certain amount of ILV or ETH?

[gloomy gazelle]

It’s 50:50 ILV:ETH based on what’s in the sushi liquidity pool.

The amount of eth and ILV goes up and down. It’s a confusing thing to me. But the algorithm knows the values.

[midnight crow]

I understand it is 50:50 ILV:ETH proportion, but 1 SLP is not tied either to a particular amount of ILV or a particular amount of ETH? Where could I go to find out more about this?

[gloomy gazelle]

Probably sushiswap info documents

[midnight crow]

Ok. Thank you. I appreciate it.

[gloomy gazelle]

Yikes. @stiff mist

[sonic lotus]

me? yea I have.

[gloomy gazelle]

#🥩〕staking message try this too. This is where I get my SLP data when I care to look.

[gloomy gazelle]

I thought some of that was in there. But maybe it was a later discussion.

[sonic lotus]

Yea it was a later discussion and I don't think it was clear what the final consensus for that specific question was.

But it's cool! We'll just have to wait and see

[small island]

https://giphy.com/gifs/filmeditor--the-hangover-movie-3owzW5c1tPq63MPmWk

[midnight crow]

Thank you. I'll check it out.

[white aspen]

Guys so most of the Ilv is being staked. No one can unstake / withdraw at the moment due to a reason that I don’t comprehend (why would sILV dust being needed at all …). Fact is that it artificially limits selling pressure on the token. Don’t want to be paranoid and team has shown great ethics till now but what if issue is being solved (or being announced as solved) only after the seed investors are having their tokens unlocked (which is coming very soon; March 2022 right ?) and dumped on us…

[severe igloo]

This is regarding the hack issue, look in #📣〕announcements if you missed it and pinned messages of #🥩〕staking

[queen grove]

Kinda starting to wish I'd have claimed a week and a half ago when I was warning everybody off.

Not FUD. Just bored and wanting to talk somewhere. Don't mind me.

[white aspen]

Thanks. I am fully aware of the sILV exploit. However I don’t get why this is blocking withdrawal of Lp positions which should not involve sILV interaction on paper.

[serene crater]

tell me, are staking pools not working at the moment? I see the message "we are currently working on a fix ..."

[fresh grail]

Rewards are still given out, but unable to claim I believe

[serene crater]

thank you)

[peak finch]

in relation to the staking rewards, are they all paid in $ILV? so if im not interested in playing games or spending "rewards" on games are they worth having? or can they be sold? im confused sorry 😭

[fresh grail]

Paid in ILV or the new SILV. You can claim as ILV leave it staked and just receive revenue from the games and yield. Very much worth having the native token ILV

[peak finch]

cool....i have some ILV ready to stake....just not sure what rewards i would get...so whats SILV? why is it different? also i understand the reward tokens are locked for 12 months after "vesting". they make mention of gas fees. so if i invest $1000 on a 30% APY i get $300 worth of tokens p/a (ignore compounding for a minute). so i can wait all year and save them up then vest them....but then have to wait another 12 months for them to be saleable? if i vest them say weekly or monthly im paying gas fees to "vest" them? are we talking ETH gas fees? if so you would lose a big chunk of earnings. am i on the right track?

[still kindle]

gm. Is it safr to claim rewards at the moment ?

The web interface is offering the chance to claim, Im just nervous given the uncertainty

[valid zealot]

I've been trying to claim and I can't get it to go thru - I believe its due to the sILV hack

[fresh grail]

On the right track. SILV in the in game version of ILV and is of equal value when used in that part of the ecosystem. SILV or the new version of it won't be locked and can be claimed straight away. Think of it like a store gift card. Yes, every time you claim ETH is needed for fees and will eat away at gains made from staking if claimed too early. Their is a community made calculator in the pinned section to help with estimating your rewards.

[edgy sandal]

hey everyone. some help please. my vesting period is completed. i have the option to withdraw. However, i would like to stake again . what are the steps? do i need to withdraw first and then stake again. tks

[peak finch]

ok cool...so im not interested in the SILV...do i have the option to take ILV over SILV? on the gas fees, assuming you get some average fee, you are paying $70 every time you vest?

[ember ginkgo]

Already replied to you in #💬〕general . Please don't post same question in multiple channels.

[weary wave]

Staking option and rewards?

[final steppe]

Hey Sharky— even though your tokens are unlocked, they do remain vested at the token weight you originally staked and continue to earn yield rewards until you decide to withdraw them.

If you’re wanting to stake those tokens with a HIGHER weight, then yes, you would need to withdraw and then stake again for the longer period of time to get the higher token weight 🙂

[final steppe]

There isn’t really an “average” fee as the gas fee will depend on how much traffic there is on the network at the time.

The “low” gas fees recently have been around $70 per claim… but in times of high traffic (kind of like right at this very moment with GWEI being around 300), the gas fee could be several hundred dollars

[peak finch]

ok yes i get it...i was just picking a number....so in reality it likely to be much higher. therefore can you confirm that each time i vest i would need to pay gas fees (likely much higher than $70) regardless of how much ILV i am vesting?

so lets say i stake $1000 of ILV and earn 30% APY. assume the APY is maintained even after 6 months i have earned $150. its likely the GAS fee would knock out most of my ILV. is there a GAS fee to reinvest my rewards? im just trying to work out how man GAS hits i would get either vesting or reinvesting, or withdrawings. sounds like its not a staking arrangement for the small fish.

[severe igloo]

Exactly, gas fees ruin your perf if you re too small staked or wants to claim and stake too small amount
V2 should change this fact tho as it should reduce gas fees

And yes gas fees have to be paid to claim rewards and start the staking

[steel drift]

Hello can you guys recommend the cheapest way to stake or is it all the same in terms of gas? I am planning to buy from binance then transfer to metamask and then stake

[cyan rampart]

Staking itself costs a fixed amount of gas, so it only depends on gas prices. For buying ILV or ETH, using a CEX will save you some money on gas, especially if you're making small buys.

Staking V2 will have cheaper gas fees as well, so waiting for that is an option too.

[steel drift]

All right cool, thanks!

[sonic lotus]

It seems like it's going to be a prerequisite to wait for V2 before staking again with the current pause on staking doesn't it?

[upbeat cliff]

Staking V2 allows us to use BNB right..!?

[peak finch]

costly exercise otherwise right now. ETH gas fees are a joke

[cyan rampart]

I'm pretty sure you can still stake ILV, just not ILV + ETH. And you can't claim SLP either because of the whole sILV thing.

[cyan rampart]

No.

And that sounds like a scam. Be careful.

[peak finch]

so if you stake ILV by itself, can you withdraw and restake under ILV/ETH once v2 arrives?

[upbeat cliff]

got a DM from peter robot...

[cyan rampart]

It's a scam.

[peak finch]

lol...me too

[cyan rampart]

If you'll refer to my uncoincidental pfp, ALL DMs are scams.

[upbeat cliff]

Thanks Boss. I got all excited for nothing..Lmao

[sonic lotus]

Ah fair fair!

[peak finch]

what was the ETA re v2?

[cyan rampart]

Up in the air because of this sILV stuff I think.

[peak finch]

Ok I’m not across that situation

[cyan rampart]

It's reasonably well covered in #📣〕announcements - Basically having to make a new sILV token will slow things down, unfortunately.

[indigo pendant]

in stacking with 3 ilv u can earn how much silv in 3 week

[runic oracle]

when the staking for sILV comes out

[coral pike]

sIlv v2 cannot be staked only ILV can be staked

[pure eagle]

Pinned 📌 to this channel there is a community made staking calculator that can help you make a decision
#🥩〕staking message

[runic oracle]

@coral pike and when the new sILV comes out

[coral pike]

unknown it will be announced in #📣〕announcements if you don't see any new information there it has not been release or updated yet

[stray eagle]

If we are lucky at the end of this month

[runic oracle]

Thank you

[craggy cliff]

haha, nice PFP change

[ocean aurora]

is the staking up again? am i able to stake now?

[craggy cliff]

not until V2 for SLP pool

[glacial coral]

🥩

[inner dirge]

I had this error:

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":{"code":3,"data":"0x08c379a000000000000000000000000000000000000000000000000000000000000000200000000000000000000000000000000000000000000000000000000000000035696e73756666696369656e742070726976696c656765732028524f4c455f544f4b454e5f43524541544f52207265717569726564290000000000000000000000","message":"execution reverted: insufficient privileges (ROLE_TOKEN_CREATOR required)"}}}, method="estimateGas", transaction={"from":"0x06717516f560A55ef7Cd60bEd213110C61C17274","to":"0x8B4d8443a0229349A9892D4F7CbE89eF5f843F72","data":"0x51c547f80000000000000000000000000000000000000000000000000000000000000000","accessList":null}, code=UNPREDICTABLE_GAS_LIMIT, version=providers/5.4.3)

[craggy cliff]

SLP staking and claiming is still disabled until V2 staking

[iron wave]

agree. we really need staking on l2 asap 😩

[inner dirge]

wen V2?

[ember ginkgo]

If we are lucky, this month

[crystal plover]

I have staked SLP today. The only way to do it is from a wallet which haven’t staked in illuvium before

[cyan rampart]

Right, that makes sense. Since you don't have to claim and all.

[hot lynx]

until you need to claim and get sILV dust again 😉

[loud charm]

I also want to stake SLP because im afraid that Staking V2 will be delayed. So if I stake now SLP and lock for 12 months. I will be left in Staking V1 and will have a little bit higher gas fees when claiming than V2? I have 60k USD

Will i get rewards if i stake SLP now in V1? I don't care about gas fees because I have 60k USD and I don't want to sell anything, I just want my SLP LP to grow. I appreciate help from you guys? What's my alternatives now?

[plain hatch]

I thought just claiming sILV was down... you canst stake SLP either? Was gonna stake tomorrow

[covert sage]

So what's going on I can't cash out sILV anymore, and we can't stake?
'

[coral pike]

#📣〕announcements

[coral pike]

#📣〕announcements

[versed salmon]

I'm seeing a message on my dashboard that says the SLP pool is being worked on. Is it ok to pull my LP from the pool now?

[plain hatch]

Ive read all the announcements just reading conflicting things in chat. im prob just dumb but thanks anyway.

[versed salmon]

I'm with you man. The announcements aren't making everything fully clear.

[coral pike]

<@&795142782133207063> anyone around to claify this please

[cunning perch]

This should cover whatever you need #💬〕general message

[crimson cipher]

Arash is too fast, didn't even have time to read 🙂

[cunning perch]

haha yeah I was just probing. I'm in #882456160349851708 atm 🙂

[median canyon]

Not until we turn off rewards.

[versed salmon]

Ok. Thanks. Any idea when that's going to happen?

[median canyon]

Assuming you have a large position.

[coral pike]

thanks i will pass this out next time to help out

[median canyon]

Pretty soon. We are looking at ways to reward those who are stakes when the rewards are cut off.

We could just increase rewards on restart.

Better to reward those that stick through it.

Both but more lp obs

[gloomy gazelle]

I think You could stake from a new wallet that hasn’t staked on the protocol yet. I just confirmed on etherscan that someone did that 3 hours ago.

[nocturne monolith]

I'm still confused about claiming ILV rewards from SLP staking, should I not do this until V2? And only claim ILV rewards from staked ILV?

Wait no I can't do that, because you have to do both at the same time, right?

[cunning perch]

This should help you #💬〕general message

[nocturne monolith]

thanks! will just continue to wait until the ILV rewards build up until it's worth claiming from ILV pool then

[reef oriole]

Quick question if i may? Ive alreaady staked in both pools. To stake again in SLP i need to wait for staking V2 use a different wallet (that doesnt hold stakes)? Is this correct?

*OR use a different wallet (not and)

[gloomy gazelle]

That’s correct.

[gloomy gazelle]

Be sure not to trust people that DM you.

[tardy plank]

Hi Currently staking SLP for ILV. Despite not being able to claim or withdraw at the moment am I still accruing ILV during this 'down period' or are all rewards turned off until V2 Launches? If the latter, are there any plans to reimburse stakeholders/make good on this void period?

[cyan rampart]

We're all still waiting for more info about how to get sILV 2.0, no one is sure yet whether you'll claim it or get airdropped.

[weak latch]

If i staked SLP locked for 6 months, can I add a second stake at the same time? Will i have to claim before?

[reef oriole]

We were able to but i think the general jist at the moment is hang out for announcements of V2 staking

[sonic lotus]

I would be very ok with increased rewards on start hahah 😛

[gloomy gazelle]

Ah I see. Currently you would. Be unable to make two eth/ILV SLP deposits in the core staking pool. Because it would require you to make a claim as part of the new deposit process. But waiting for v2 staking will allow a lot of different options with minimal transactions.

[meager prairie]

I've read it in the pins and in this channel, but just wanted to triple check. It's totally cool for me to (with a brand new unused metamask) set up and stake in the slp pool with a 1 year lock. I would 100% be good to go to do this right now???

[loud charm]

I also wonder this. I also wonder if you get rewards for your SLP if I stake now? I understand that I cant claim. But if I wait to claim until V2 is out, will i get rewards now?

[meager prairie]

Good question... will rewards accrue from now til then. Ready for claiming once v2 is activated

[median canyon]

Some people can’t claim rewards because they want sILV. Others can’t because they have a large deposit which means sILV dust which means they can’t.

We originally had it so that you would need one final claim before upgrading to v2. We are now trying to rollover rewards. So that you can claim new sILV.

In addition we will turn off rewards soon. To let people unstake that have this problem.

However those that stay in the pool while there are no rewards will get extra rewards on start up.

You won’t get these extra rewards if you pull out and wait for rewards to start again.

[delicate plaza]

Don't pull out. Words to live by. Got it 👍

Not sure if this is the right channel to ask this question and I'm sure it might differ country to country - but when we "claim ilv" as a staking reward - is that a taxable event on claiming? Or is it only technically ours and we pay tax on it once it unlocks after 12months?

[livid pasture]

I wanted to stake the $100-200 I have in illuvium but it would cost me over $100 in ethereum just to stake!? Is there any way around this or will it always cost so much?

[brisk surge]

I would wait for the gas prices to lower or wait until you have more value in illuvium.

[tiny void]

Is there an issue with the ILV pool right now

[quaint raptor]

I'm in a similar situation to above discussion in that I have SLP and a new wallet. Is it correct that getting in now would allow for the bonus rewards when things are off but would cost gas for the V2 upgrade later?

[warm knoll]

Great article again @elder dawn ! Always a pleasure to read your thoughts !

[crimson cipher]

👀 going to look at it

[queen grove]

how do I find?

[warm knoll]

You can find all his article here : https://www.publish0x.com/ilvfi

[queen grove]

ya'll have me too scared to click links

I googled it and it looks like convergence. Gonna click it

[warm knoll]

That's understandable but you can trust me on this ^^
https://www.publish0x.com/ilvfi/illuvium-bold-predictions-for-2022-xelxodn this one was the one i was talking about

[queen grove]

🙏 👍 thx

[warm knoll]

all his articles are really worth a read 🙂

[steady trellis]

50% drop is daily messages of discord

[delicate plaza]

Man reading this made me pretty bummed I only got into SLP staking recently. Sounds like I've missed out on the major opportunity to build the ILV stack to really do well off rev dis

[warm knoll]

well clearly for the people that were into the SLP since 4+ months ago (or even since the beginning...) it was insanely worth it. But still the reward will still be good. And anyway you can compound the revDis you will received. You may not be able to do life changing money as easy as if you were at the beginning. But you could still use the profit you will made to re-invest later in other upcoming project.
In any way if Illuvium succeed (this game and everything that could follow later on). Even small amount of ILV could grow quite nicely.

[opal tulip]

Uh lost you there. So for stakers, the rewards will still be recorded and grow during this period? Just unclaimable?

[coral pike]

think of a light switch when it is turned on it works when it turned off it doesn't.

[opal tulip]

How will the people that have staked during this period be compensated?

Will there be a retro rewarding of this period when the reward is turned back on?

The loss will be even more substantial for people who have locked staking and have a high weightage on their staking reward should the recording of the stakes stop.

[cunning perch]

It will be like when emission was about to start. They will pause rewards (adding together with a bonus) and then anyone wanting to stake/withdraw/claim can do it until V2 comes out. So depending on when V2 is gonna be implemented compounded with a 2-week halt, the bonus can be quite juicy. And as Aaron ahs said, LP will receive a way juicier bonus to cover up for what they (migh) lose.

[opal tulip]

Have to work out the period which the reward recording is turned off.
If i understand correctly, the reward recording have already paused right?

So what i mean is that for loyal stakers that have locked their stakes will lose more than those on flexi as their weightage is higher and time will extend the otherwise gain and turned into an extensive loss. Total 180 deg shift from gain to loss.

[cunning perch]

No I don't think so. They will not pause it without announcing it first, but I might have missed that. I haven't check my rewards for like 3 days.

There will be a detailed explanations how they will take it into account. for now just keep an eye out on the announcements for something that explains all different pools. I will try digging up more info and let you guys know.

It was always clear that rewards needed to be paused for SLP staker to be able to stake and claim rewards. Didn't say anything until Aaron points it out. Now that we know it, better to wait for more explanation and how they are gonna implement it.

[opal tulip]

Yes, I think you got my point. For example the planned 2 weeks hiatus for transiting to V2 is totally taken into account, the same goes for any pause should be properly accounted for.

[cunning perch]

oh yeah They will def account for it. It will be like bonus upon bonus more likely, though it's gonna have to be announced properly

[steep rock]

Hello everyone, I'm new here. Can you guide me what is the difference when you talk about staking V2? There is a new version?

[final steppe]

Hey Mega-- yes, the team is working on upgrading to V2 of the staking protocol. You can see the draft of the proposal Aaron typed up here:

[median canyon]

No. The rewards will not grow over this period. This is to sync with v2. It will also serve as a way for people to be able to unstake or add new stakes (they sometimes can't now).

Because of this period with no rewards, we will accelerate rewards after v2 launches. But we don't want to give extra rewards to people that weren't in the pool while rewards are switched off.

Yes. This is what were are trying to get done. As always, we want things to be fair for everyone.

[quaint raptor]

I'm still unsure if I should wait for v2 to stake SLP from a clean wallet, given these factors of bonus rewards and delayed v2. I've been sorta sitting on the SLP tokens for a week. It's just a couple ILV worth.

[karmic robin]

do we have realease date for v2?

[crimson cipher]

No date yet, an updated timeline will be released as soon as possible

[karmic robin]

alright, thx

[ebon acorn]

So @ember ginkgo, will staking v2 be much cheaper then current staking? I'm planning to go in with 1.5k, 750$ in eth and 750$ in ilv. Is it worth it to wait for staking v2?

[ember ginkgo]

@cunning perch help

[cunning perch]

It will be more gas-friendly, not way cheaper. The fact that it's going to help ppl claim all rewards in one go is the benefit that everyone is looking forward to

[ebon acorn]

I dont really understand. So staking v2 provides the benefit that you can take out your rewards cheaper? But put it into stake wont be way cheaper? So lets say i'm planning to stake my token for 52 weeks and just HODL the rewards and take it all out in the end. Is it worth it then for me to wait for staking v2? Im going in with 1,5k in the token btw

[cunning perch]

make sure you fully read this and know what claiming means in ILV, as you cannot hold on to your rewards:

[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.

[robust knoll]

hey arash just wanted to confirm what aaron said above, so currently if we have a stake in slp pool we cant stake more due to the silv issue, but there will be a time where we will be able to stake more (when the rewards is halted for awhile before v2), am i understanding this correctly?

[cunning perch]

yeah the moment it is halted you should be able to stake anew. There will be an announcement about it ofc

[brisk surge]

so just to tag along the conversation... what would be considered a decent amount to stake? i'm currently holding 2.5 ILV... would that be beneficial for me atm to stake that or should i wait ?

[cunning perch]

I would wait for V2. Gas is destructive atm now that the rewards will be halted too. Maybe stake when it's halted (after it is announced and depending on the gas on that day)

[brisk surge]

that's the downside of getting in too late... But let's say i wanted a landplot, is that payed off with ETH or ILV ?

[cunning perch]

ETH or sILV...not ILV.

[spice vortex]

Im in the same boat wanting to stake and start earning rewards. I made 2.5 SLP and it was over 300$ in gas fees then they want another 300$ just to stake these locked for a year. This is insane what a middle man Etherum does. 600$ just to get staked is ridiculous so I want V2 but all we hear is soon and more info later. by the time im done itll be over 1000$ just t stake and transfer if V2 ever comes out

[ebon acorn]

Okay I understand the current problem. So lets say I stake 1.5k in the liquidity pool. I get my rewards in ilv but if I claim them I have to pay the gas fees, and I am forced to stake them in the ilv pool for 52 weeks. So the current problem is, that I have to pay high gas fees on taking out my rewards, and I have to wait therefore until I got enough rewards. If I wait they will be staked later so I get less rewards. With staking v2 I could claim my rewards earlier, so they will be staked earlier and I get more rewards out of the normal ilv stake then. Did I understand it right?

[brisk surge]

then i'm really confused of what i can use my ILV for 😮 ?

[cunning perch]

you will get a lot more rewards than normal ILV pool. They will execrate rewards. (again, I advise waiting for the official announcement. Many of you Qs might be answered then)

[ebon acorn]

Do you know when the official announcement will be released?

[spice vortex]

exactly. Been waiting for a week Arash and I do appreciate that your in here keeping us all informed but it would be nice to stake and start earning

especially after paying so much in ETH gas. I am not buying any ETH toekns ever becuase I cant stand this middle man stealing bvut ILV is worth it if I can start earning

[cunning perch]

Regarding SLP on V1 (not considering sILV issue):

1. you stake SLP
2. you have rewards in "pending rewards"
3. you want to claim ILV as rewards:

3') you press "claim ILV" ==> It forces you to claim the rewards in the ILV pool first and then claims the rewards in the SLP pool, therefor you pay for 2 TX....
3") this process claims some sILV dust

The same process goes if you add stake new SLP on top of your preciously staked SLP.

Now when you claim ILV, it will be locked for 1 year in the ILV pool with a weight of 2X while generating more rewards.

Now considering the (sILV issue):

Since claiming sILV has been halted, then the claim cannot generate sILV dust as I mentioned above. So nothing goes through the the TX fails.

V2 has fixed all these issues:

1. It is gas-friendly in general
2. it will not force you to do anything any more.
3. it claims every single rewards in one TX
4. it allows the claim of RevDis
5. it allows the wallet to be changed (for unlocked token_

[spice shell]

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

[cunning perch]

soon. they are working on it

[ebon acorn]

so in v2 i dont have to claim rewards manually and they will be automatically restaked?

[cunning perch]

everything is done manually wether on V1, V2 or future V3

[cunning perch]

staking, selling, hodling, voting and stuff. ILV is the governance token.

[ebon acorn]

so instead of 2TX i just have to pay 1TX right? Lets assume I stake my 1.5k in the SLP and take out my rewards after 52 weeks. Does v2 change a lot in this case? Because I would wait for v2 and it sounds really nice but im scared that it will take to long until you release v2. Is there a estimated time when it will be released?

[hot lynx]

Hi Arash

[cunning perch]

v2 should be released (if not this month, which I doubt it, then next month) before land sale. they are making sure it's spotless, running it through 3 audits.

[cunning perch]

hey m8 🙂

[ebon acorn]

so its guaranteed that it will be released in worst case in february? And if Im lucky this month?

[cunning perch]

nothing is guaranteed unless it is officially announced. But by the timelines we have roughly, it should be out pretty soon as it's ready, just being audited.

[cunning perch]

I have some waiting for me too. probably waiting longer to claim

[ebon acorn]

Hm, okay. Ill trust the process and im waiting for february then. Thanks.

[cunning perch]

we all are 🙂

[hot lynx]

+183k

[cunning perch]

give or take

[hot lynx]

Due to Bot removals 🤣

[cunning perch]

bot and inactives

[quaint raptor]

I understand waiting for v2 but what is the benefit of waiting to stake after rewards are frozen?

I'm sitting on SLP and a clean MM so I can start staking anytime and am not worried about rewards being stuck, but I'm not sure if I should stake now, after rewards are off, or still wait on v2. I was waiting on v2 but the delays have reconsidering. Any insight?

[cunning perch]

the benefit is that you can stake.Rn if you want to stake your first batch, you can go ahead, there are no issues.

There are problems with staking new SLP on a previously staked SLP.

Having said that, if you wanna stake in the ILV core pool, you can even now. It has no issues

[quaint raptor]

The drawback to staking now (on a clean wallet) is just the upgrade gas when v2 is out? I have 3 ILV worth (+eth equivalent) so I'm fine staking now if it'll likely cover the gas to upgrade to v2.

[spice vortex]

So if this is your first time staking SLP then everything will be fine as we transition to V2. At the V2 time if you were only in the SLP pool you have to pay gas fees for migration to V2 with no claiming of ILV or sILV right?

[cunning perch]

upgrading is done min 1 and max 2 times. shouldn't be much, though it depends on the gas on the day of the upgrade. If it were today, I wouldn't do anything tbh. 300 Gwei is just not my type lol

[cunning perch]

if this is your first time staking SLP, you should be good to stake (that is if you are comfortable with paying a 300 Gwei gas)

[spice vortex]

wow 300 gwei. Whats wrong with people thinking ETH is good network for this alone

[cunning perch]

ETH is the most decentralized, the safest mainnet and the most adopted network. besides it wasn't like this when we started. EIP-1559 cuzed the spike which in the end might be a good thing

[quaint raptor]

Thanks for all the details and this really helps. What about migration? Should we give any consideration to waiting on v2 to avoid locking into a V1 upgrade to v2 rather than full migration?

Right now I'm leaning towards staking and just being patient on the upgrade after v2 is out but unsure about missing out on migration for a year.

[spice vortex]

Im also in this same thought. I ahve no intention of trying to cash out to make profits I am good with staking and locking and getting the sILV pool building for the game sooner then later and if V1 allows that without a big fee and mess when V2 comes out especially for people doing their first time staking then lets rock n roll.

[spice vortex]

I read through the pin items again in this staking channel and there is about a 300$ fee it seems for the amount we are talking about staking so you have to calculate if its worth it. My luck is i would stake today and then the V2 would come out tomorrow. We will ahve to pay fees to migrate as well I think.

[quaint raptor]

Yeah, I'm starting to learn towards waiting anyway... I know we don't have a specific timeframe but meh... it'll be before land sale at least. Also to clarify, you would pay fees to "upgrade" (allow v2 to read v1 tokens) and "migrate" wouldn't happen until after the lock is over. It's that last part that has me thinking about waiting... moreso than the onetime gas fee to upgrade.

[spice vortex]

I agree Cashisclay on the locked tokens not being able to migrate. I think hold and wait for V2 im just excited about this game and staking.

but i hate the Etherum middle man

[quaint raptor]

Yeah, I hear you. I'm excited to get more involved too... things look promising. Maybe if the markets keep tanking it's a good time to increase positions before staking anyway. 😂

Also: Friendly reminder not to accept friend requests + DMs even if they appear to be a mod. They're often trying to get you to connect to the CELO network as a way to stake and seem to be targeting people discussion questions here. I just got one from a fake "Arash | Illuvimod" after an exchange with him here.

[spice vortex]

thats what i did. I dollar averaged into 5 ILV and enough Etherum to make the SLP then got wacked in the face with Etherum SUshiswap fees which killed my excitement

i got one from fake Arash a couple days ago

[spiral stump]

so is this going to be announced or just buried in this channel

[spice vortex]

Tuck there is a pinned note in this channel explaining it and it is confusing.

[spiral stump]

we need a comprehensive announcement posted on this topic @cunning perch @median canyon

[restive ruin]

At least a close to date would be nice as if still a few weeks I want to claim outstanding rewards as well but if in a couple more days I’ll wait.

[queen grove]

90% it's going to be a few weeks, but we can't claim rewards. Or at least I can't because of the sILV dust problem

It's at least far enough away to justify spending the gas to pick up the ILV I have in the tank but I think I'm just out that ILV I could have earned over the next month

Gonna be kind of upset if the land sale happens before I can claim my rewards so I miss out on the revdis as well.
They keep saying it's the other way around 100% but I'm watching it closely

[median canyon]

And there will be one, as soon as the details are finalised.

[restive ruin]

Ok if a couple of weeks away then I’ll claim now

[pearl juniper]

@median canyon is @cunning perch actually a mod?

[cunning perch]

you can just click on my name and see my roles m8

[pearl juniper]

oh ok now it's updated

[cunning perch]

though scammers are using my name and scam you in DMs

If that is what you are referring too

[pearl juniper]

yeah i think someone is using your name mate

[cunning perch]

yeah I think I have banned more than 100 scammers using my name so far. Be very careful Dms are ALL scams under whatever name

[restive ruin]

But holy hell gas is high so I’ll wait anyway

[queen grove]

He says "the past 6 months, --and now--, are the golden times of staking." It's kinda bumming me out too considering my current ROI would have extrapolated out into 100k over the next year, but it's still a pretty incredible ROI if the game doesn't face plant. Even holding 10 regular ILV over the course of the next 10 years is a possible retirement scenario. But I totally get it. I was thinking of retiring 2024 based on my initial calculations.

I wonder if deraji's calculations are pre- or post- the 50% drawback

[west shore]

Can anyone help me understand or send me a link as to what this V2 is for staking?

[queen grove]

There are currently a set of smart contracts for staking ILV tokens with the ILV DAO. It is the first version of these smart contracts.
They are working on updating the smart contracts to have less gas fees and less exploits by working on the Layer 2 platform IMX.
This new set of contracts will be the second version. "V2." Subject to moderator correction.

Unless you had a more specific question.

[ashen dust]

@elder dawn great article and something I didn't consider was how the unlocking tokens could effect the staking pools. Does your staking calculator use any these predictions in this article?

[west shore]

Do most think it's worth the wait to stake for cheaper fees and easier transition or stake sooner with more time for rewards?

[queen grove]

The answer rests in how much you are staking. If you can make above the amount of gas fees in rewards - opportunity cost before V2 drops (gas fees = initial stake + upgrading) then it's the right answer. Right now it's an unbelievably high number because gas is so high and the ramp in time is so short. But if you've got 1000 ILV just sitting around, I'd say yeah, go for it.

[west shore]

lol who got 1k ILV laying around, but thanks that calrifies things

[queen grove]

exactly. No problem

It's a lot less in SLP. If I had even 5 SLP I'd stake now probably.

[elder dawn]

@ashen dust Not yet - Lelahel and I have been discussing, but there's a lot of variables, such as the percent of the unlocking tokens that move to the SLP versus ILV pool. I need to do some updates to better reflect my prediction. I would just say for now, count on your rewards dropping significantly between now and 6+ months from now. I'll try to get a better model out soon, but its going to be tricky and depends what people decide to do.

[queen grove]

You indicate that you think Sushi's LP pool fees will become a significant portion of the return on SLP tokens. Do you have any thoughts or calculations on how to predict these amounts? Do you know where we can see the LP pool fees we've already accumulated, or am I misunderstanding how this works?

[golden dome]

Hey im trying to stake sushi LP right now but it keeps having an error saying it cannot estimate gas or something??? What is that

Says cannot estimate gas. Transaction may fail

[queen grove]

I saw you tried to link an article. Grin. Sucks. I'd say DM me but that's a recipe for a scam. If it's too long of a response don't worry about it.

[final steppe]

Answered this in #❓❗〕community-help as well but copying the response here as it may help others viewing the channel:

The sILV minting function has been paused due to the recent exploits that occurred. If you currently have pending rewards in the SLP pool, then unfortunately you won't be able to add more to your stake right now since the sILV mint function is used within the ETH-ILV SLP claim processes.

We cannot currently claim SLP rewards or stake/withdraw SLP tokens which require claiming of rewards first... until the sILV V2 solution is implemented.

[elder dawn]

Yeah, I'll send you something - in short, I think utilization will at least double with revenue. Overall, utilization has been fairly low, and should at least double with revdis, but I may have been optimistic on that prediction. $100 million per month revenue would be $3 million per day, which is more than double current pool utilization. The formula to get at swap fees is Your SLP value x Pool Utilization % x 0.25%. If you have $5k in SLP and current utilization (~1%), you'd earn about $0.13 per day. $5k x 1% x 0.25% = $0.13 per day.

[queen grove]

and where do those swap fees go? I don't have those SLP tokens in my wallet any more, they're staked obviously. Or is it just a part of the receipt. When I turn my SLP back in and get my ILV/ETH the fees will just be in there as well.

[elder dawn]

the fees are just added in. if you track the token price on zerion, it reflects the swap fees. when you eventually sell your SLP, the value will be a function of the two tokens, impermanent loss, and the swap fees.

[ebon acorn]

does this mean i dont have to wait for staking v2? Does it make any difference if I stake it now or later when v2 is released. Currently I am not staking any ilv. Im planning to stake the SLP token. Should I stake it right now or wait for v2?

[cunning perch]

As has been mentioned, there will be halt in rewards. When? not clear. needs to be announced. If you wanna stake now, you can, and when v2 is out, upgrade to V2.

[ebon acorn]

how much does it cost to upgrade on v2 when its released?

[cunning perch]

no idea. no one knows. depends on gas the day you wanna upgrade.

and the complexity of the contract

[ebon acorn]

could you estimate?

[cunning perch]

nope. if gas is at this high? then expect some hunndreds of $. if at 60, maybe $50-100

[ebon acorn]

Okay I think I will wait then. Would you recommend to HODL the Illuvium and eth until v2 is released or should I swap it right now into SLP token?

[cunning perch]

I would hold. but that's me. I wouldn't keep SLP until stuff gets cleared.

[ebon acorn]

okay thanks

[quaint raptor]

You can swap to SLP anytime for the Sushi pool rewards too, regardless of staking and v2

[ebon acorn]

is it worth it for just a month? v2 will be released within the next month probably

[quaint raptor]

v2 release won't impact sushi staking, just wait to stake the SLP tokens on illuvium

[ebon acorn]

how high are rewards for sushi staking?

[quaint raptor]

I think .25% goes to the pool. The main point is you need to provide liquidity and get SLP either way so you can go ahead and do that step now, then stake the SLP tokens now or wait for v2, but might as well get some sushi rewards in the meantime (unless worried about impermanent loss).

[midnight belfry]

is it still possible to stake in slp pool?

[delicate plaza]

I also got excited about financial freedom based on the calculator. I wasn't phased at all by the token unlocking and the sell pressure - cause the apy rewards on SLP staking were so good that long term it would build a nice base of ILV for when the token takes off. Now that I'm aware they will likely stake these seed tokens and bring the apy down the calculator pinned is like overstating what the yearly returns will be. Still very bullish on illuvium and making profit, just not the amount I was hoping 😅

Likely overstating potential yearly returns*

[midnight belfry]

what do you mean?

what are ilv used for when staking is over?

[final steppe]

Staking won't ever be over, really 🙂 While yield farming rewards will stop being distributed after the 3rd year, there will still be revenue distributions being given to ILV stakers. See below!

[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.

[ionic heron]

am I right to say if I have pending slp rewards, then I cannot stake more in slp pool right now?

[midnight belfry]

will i lose my stakes if I dont migrate?

[elder dawn]

you will not lose your stake, and migrating is not required. You will need to upgrade once V2 comes out to continue earning rewards. Migrating is only available once your stake is unlocked, and enables further transaction fee reduction and the ability to move your stake to a different wallet.

[cunning perch]

atm claiming SLP rewards have issues. will be fixed soon. Keep an eye out on the announcements

[delicate plaza]

I have just 4slp staked - will I issues also? Saw Aaron say somewhere it was large stakes that were having issues and I'm not sure what qualifies as large haha

[cunning perch]

if you staked it then no. just wait for V2 and upgrade your pool

yeah larger stakes will have sILV dust claims and that causes issues. but this is general. V2 fixes it

[delicate plaza]

Yessir 👍

[errant obsidian]

So wait until v2? I have eth and ilv and planning to add liquidity

[midnight belfry]

how much does it cost to upgrade?

[small island]

You can already add liquidity if you like in Sushi and earn on the trading fees. This is less than the ILV farming rewards but still
and then you can stake for ILV farming once v2 is ready

[wheat plume]

Does anyone knows why I always keep getting "Please enter an amount" when I try to stake

[final steppe]

Hey beto-- Are you trying to add to your SLP stake?

Because if so, please note the sILV minting function has been paused due to the recent exploits that occurred. If you currently have pending rewards in the SLP pool, then unfortunately you won't be able to add more to your stake right now since the sILV mint function is used within the ETH-ILV SLP claim processes.

We cannot currently claim SLP rewards or stake/withdraw SLP tokens which require claiming of rewards first... until the sILV V2 solution is implemented.

[midnight belfry]

Why is gas fees so high atm?

[hollow goblet]

Everyone rushing to sell with market crashing

[gray crag]

LOOKS airdrop

[high valve]

hey guys little question i wanted to add more SLP to my actual ones allready yielding, can i do it without claiming my ilv reward ? (cause i wanna use max SILV for land as possible) and if i understand well if i stake again in SLP the none claim ILV will o in other pool ? or am i wrong? thanks in advance

[steep rock]

Gas fee > 600 Gwen 🙀

[golden dome]

Math question. If you provide liquidity for slp to the tune of $1,000 worth of ETH and $1,000 worth of ILV. What would your APPROXIMATE revenue in liquidity provider fees be per day? Asking bc I cant stake SLP right now so want to know what my SLP tokens are doing for me. I know this is a tough question w lots of variables but just curious if anyone has done the math on LP fees.

[pseudo plume]

Hi everyone!
Does anyone know if you can cancel your staking if you've locked up? (assuming that I would have to forgo any rewards, which would be fine)

[delicate cloak]

Nope can't change a smart contract. It's locked till the time is fully vested.

[pseudo plume]

Great to know, thank you!

[half ridge]

Is there anyway to stake silv? This game is taking my money hostage. I just want to do something with silv since I can’t even freaking sell it back since these developers tanked the silv price!

[gloomy gazelle]

No. The current sILV token is now just a placeholder waiting for sILV version 2 to come out. Either way sILV was only ever intended to have it’s use case as a means to take ILV staking rewards without the lockup and to be able to use that to pay the illuvium studio, a bit like a gift card.

[brisk surge]

am looking at claiming rewards, does anyone know if everything is ok to proceed or should i just hold off

[hot lynx]

Have you tried to claim 👀 from LP
sILV dust is inside the LP

[gloomy gazelle]

If you are wanting to claim from the Sushi LP pool you should wait. Check the pins for more info.

[stray eagle]

Guys, do you feel like getting more rewards from SLP staking than last month?

[brisk surge]

Maybe some people withdrew to sell while the price was dipping?

[stray eagle]

Nah, my maths were wrong. This month less than last

But not so less

It was like 5,5 5 3,7 and this 3,6

[verbal heron]

https://gfycat.com/unimportantgargantuanamurstarfish

[true coyote]

Hi Guys,

Just tried to claim som ILV rewards from the sushi pool, gives me an error. Do we have a contract workaround?

[stray eagle]

They are working on it

[true coyote]

Thanks, no timeline?

[stray eagle]

No exactly but expected this month

[true coyote]

thank you

[hot lynx]

👍🏻 good to see you Pelican

[echo ore]

Hei guys

[real spruce]

$2000 of slp is going to provide an absolutely irrelevant amount of fees let alone ILV rewards. I have roughly 60slp staked now and I barely even notice the liquidity fees, only the rewards via sILV or ILV stacking

[opal siren]

Does anyone know the actual formula used for calculating the APY?

[brisk surge]

thanks

[steep rock]

Can anyone help me, I did the liquidity step and I see approved in the transaction details but I can't see my silv in my coin base wallet, something is missing?

[cunning perch]

Add it manually to your wallet. Also I think you mean SLP, not sILV

[woven ibex]

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

[steep rock]

@cunning perch sorry, I don't know how to add it manually, I don't see any option on my mobile wallet

[cunning perch]

There should be a “add token” or “import token” somewhere in any wallet

Also watch out for DMs they are scams under whatever name

[golden dome]

That makes sense since the liquidity is so deep and that is what I thought. I have like 40 SLP and havent really seen them go up noticeably so I wanted to ask. Sucks that we cant stake right now. I just bought 10 more SLP just chilling in my wallet doing nothing

[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

[queen grove]

I will not envy, I will not envy, I will not envy, I will not envy, I will not envy

[cyan rampart]

You could stake them from another wallet if you want.

I probably would for 10 SLP worth.

[gloomy gazelle]

Not really. But there are a few things available. And I can talk through the rest. This image is from the tokenomics post on medium. It just shares now the how the rewards are divided amongst the different pools. Inside the pool a few more things happen. But I don’t have the formula for that. But I’ll find a previous post that has a description of it.

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 (it shows you a little less). 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.

[hot lynx]

Hey Pelican good to see you 👍🏻

[gloomy gazelle]

Hey hey

[thorny grotto]

when do we see Staking V2 ?

or it is live already?

[gloomy gazelle]

Not yet. It will be in #📣〕announcements in advance I believe

[opal siren]

Tyvm for pulling this up pelican -- if you have those excel docs it'd be fantastic. Very curious to see what the compounding period assumption is, I'd bet 2 weeks but not certain. Compounding any APR continuously will make it go to the moon, so kind of concerning that the UI displays an APY but there's no clarity around how many times someone would need to claim to actually see that APY (doubly problematic for the LP holders, as their claims are just ILV, which grow at 80% vs the proposed 600%+)

[gloomy gazelle]

The apy presented does not consider compounding. Since the compounding is manual and, as you say, at a different rate for the SLP rewards they don’t use that as a factor.

#🥩〕staking message the post with the spreadsheet

[stuck quiver]

Hi all, does the ETH/ILV LP have any lockup period in Sushi or in ILV staking?

[gloomy gazelle]

Not on sushi. But you can choose to lock it up for up to 12 months on the illuvium staking page.

!lp

[woven ibex]

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

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

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

[gloomy gazelle]

!staking

[woven ibex]

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

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

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

[stuck quiver]

Ah so the Sushi LP tokens need to be locked up 12 months to get the full 350% APY?

[robust knoll]

just a qn, if i choose to stake now with a locked period of 12 months, later on when rewards are paused we can then choose to unstake right?

[gloomy gazelle]

Correct

[gloomy gazelle]

No.

Locked is locked.

[robust knoll]

Im asking because I wanted to add more stake (which is impossible now), but I didnt want to use 2 different address to stake as it incurs more gas when claiming

[stuck quiver]

Thanks!

[gloomy gazelle]

Yeah it’s not ideal.

[robust knoll]

okay oh wells gas is pretty expensive nowadays

[gloomy gazelle]

Alright. I’ve gotta go. I won’t DM anyone.

[robust knoll]

aight thanks mate

[sonic lotus]

Yea looks like we’re going to have to wait for V2. Just hope it’s not too far away!