🥩〕staking

[final steppe]

Hey Lee-- congrats! Well, if you choose to withdraw your SLP now then yes, you will be prompted to claim your pending rewards.

Claiming them as ILV tokens will automatically vest those ILV rewards in the ILV Core pool and lock them for 12 months.

If you claim as sILV2, then the sILV2 tokens will be available in your wallet immediately.

[tough shoal]

hey guys, i tried staking some extra ilv just now, and my txn seems to be stuck, i tried speeding up and canceling but it just wont budge. etherscan saying over an hour for some reason. Do i have to leave everything for it just to go through, or can I disconnect my ledger and close down?

[proud moth]

First don't fall for scammers dm'ing you.
If you have the cancelling tx broadcasted and still pending you might have to wait before sending the staking tx again. Alternatively, if the gas of the cancelling tx is too low and might not get through soon you can send the staking tx again with the same "nonce" but with higher gas so that it will replace all the previous txs.

[tough shoal]

thanks! ive just left it for now, will check tomorrow

[gloomy gazelle]

What does it say on etherscan?

If it’s not pending on the blockchain then my guess nothing will ever happen.

[tough shoal]

still processing, estimated over an hour

[gloomy gazelle]

Ok good. What is the gwei set at?

[tough shoal]

i sent it all through at normal priority, cant remember gwei now. but it was cheap thats why i did it haha

[gloomy gazelle]

Etherscan will say

[tough shoal]

just went to check and its gone through! 🙂 base gwei was 18

[gloomy gazelle]

Nice. Super cheap

[tough shoal]

yeah, make a change its been chronic for ages

[teal jay]

Is anyone staking Slp ?

[gloomy gazelle]

!lp yes

[woven ibex]

Providing liquidity is done via an ILV/ETH Pool on SushiSwap and requires multiple steps:

1. Buy ILV and ETH
2. After approving the Sushi contract you stake a 50/50 value ratio of ETH and ILV
3. You receive SLP tokens. (To see them, add the SLP contract address to your wallet)
4. Stake the SLP tokens through the Illuvium Staking App and set your lock period.

See #🔗〕helpful-links for official links.

[bright verge]

if i have more then 1 staking can i choose to recive all in one transaction or do i have to do them one by one?

[proud moth]

You mean claiming all in 1 tx? Yes you can

[bright verge]

ah yeah, dope! thanks ❤️

[versed coral]

Like I said, I see the claimed rewards in my vesting tab, but not in my dashboard where the total ILV is shown

[nocturne cypress]

It probably will be updated soon

[final steppe]

If the rewards are vesting and displayed on the Vesting tab, I'd assume there's just a display error with the total ILV then.

If you don't see it update eventually, and you feel like the total ILV shown on your dashboard is not matching the sum of the ILV you have staked on the Vesting page, let me know and we can have one of the devs look into it 🙂

[nocturne cypress]

When did you start with staking?

[versed coral]

It is just weird to me that this happened to the wallet of my girlfriend. Today I have claimed rewards on my own wallet, and there the dashboard was updated right away. The other wallets dashboard is still not updated since yesterday. I mean it isn’t that problematic as long as the vesting tab is correct and the rewards are compounding correctly

[crystal notch]

got .8 ILV rewards pending... worth claiming with the cheap gas now?

does the reward go to your ILV staking pool? so you start earning on that too?

[cyan rampart]

I claimed both pools for $20 at 20 gwei yest. Gas is cheap AF, but it's up to you to decide whether a claim now is worth it for you.

The reward does go to the ILV only pool, it's staked for 12 months at 2.0 weight and does generate its' own rewards. That doesn't end up being much for YF rewards (with .8 ILV), but revdis could make up the difference. Hard to say for sure.

[crystal notch]

thanks

[mossy hinge]

Hi everyone, sorry if this is a dumb question but - is it possible to stake ilv / eth from a hardware wallet?

[gloomy gazelle]

Yes

Ledger works through metamask integration. And I think trezors can connect directly to the staking dapp.

[gloomy gazelle]

Be safe don’t get scammed.

!scam

[woven ibex]

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

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

[mossy hinge]

Thanks a lot!

[outer hull]

Does it matter when I claim my reward? Is it influenced by the APY?

[cunning perch]

If you don't claim, they will not compound and will not receive any Yield and RevDis

[outer hull]

right. So the amount after compounded is influenced by the APY too? should i claim my reward now then?

[cunning perch]

you can use the calculators pinned the channel or just claim whenever you are comfortable.

[drifting fractal]

Well hello, does anyone remember when staking started last year? Was it something like july?

[nocturne cypress]

Earlier march-may

[cinder escarp]

I thought people said july 2021

[craggy field]

seed-preseed lockups in march, open-staking was first of July or 30st of June 2021.

[cinder escarp]

Ah i see

[gloomy gazelle]

That is not true. It did start like the last day of June/first day of July.

[nocturne cypress]

Ahh I mixed it up with the pre sales 😅

[gloomy gazelle]

No worries

[nocturne cypress]

Yield farming may 😆

If it was July than is this of 🤷‍♂️

[timber sequoia]

'' on going '' not concluded in May.......

[gloomy gazelle]

It was delayed. That article was posted like last February or something. And not updated since.

[vapid gale]

Is it the first one?

[gloomy gazelle]

Yeah. It’s got super deep liquidity

[cunning zealot]

Thanks

[ornate loom]

Hi guys! Just bought 3 ILV from sushi... Now I can't find the way to send it to my MM wallet...

[final steppe]

Hey! So did you connect your MM wallet to Sushi in order to buy that ILV? Or did you connect a different wallet and now you're trying to send it to your MM wallet?

[ornate loom]

Yup, I connected my wallet to buy the ILV. However, when the button to "transfer" the tokens to MM appeared, I accidentally pressed cancel...

[final steppe]

Ahh, so did you complete any transactions before that transaction that you cancelled?

[ornate loom]

Yes, I can see my ILV tokens still in sushi.

[final steppe]

Was that first transaction just the transaction to "Approve"? So now you still need to purchase?

[ornate loom]

Nope, I completed all requirements for the purchase.

Including approval in MM for the transaction.

[final steppe]

If you'd like to DM me your wallet address and perhaps a screenshot of where you're still seeing the tokens there in Sushi, I can probably help sort out what's going on

But as always, don't trust any DMs you receive! I won't be DMing you first-- so if you receive a DM and it looks like me, it's not!

@ornate loom Also be sure you have added the ILV token contract address to your MM wallet otherwise the tokens might not show up. Just scroll to the bottom of your MM wallet and there should be a link to import tokens. The ILV contract address is below:

[woven ibex]

ILV Token: 0x767fe9edc9e0df98e07454847909b5e959d7ca0e
ETH/ILV SLP Token: 0x6a091a3406e0073c3cd6340122143009adac0eda
sILV2 Token: 0x7E77dCb127F99ECe88230a64Db8d595F31F1b068

[ornate loom]

Got it, will try it now.

Done! Thanks @final steppe

[ornate loom]

And with that, done too with staking on the Illuvium website. RevDis ready! hahahaha!

[final steppe]

Heck yes-- love to hear that! Glad we were able to sort it out 🙂

[stiff glen]

Hi I can see my ilv under vesting tab do I need to withdraw first to stake again ?

[final steppe]

Hey there-- any ILV you currently see in the Vesting tab is already staked 🙂 So even if it is unlocked, it is still staked in the pool that it shows in the first column, and it will continue to earn the estimated APR at the token weight you originally set.

If you wanted to get a higher token weight, you would need to withdraw and then restake for the longer lock period to get a higher token weight.

[stiff glen]

Will i be eligible for rewards distribution if I left them as is ?

[drifting fractal]

I have also question about the rewards distribution and how it's paid. Let's take land sale as an example: will I be eligible for revdis ONLY IF I stake meanwhile land sale in ongoing? Or is revdis only added to "staking reward pool" and paid later for stakers?

[loud ermine]

How big are the gas fees to start staking? 😅

[gloomy gazelle]

Let me check etherscan

[gloomy gazelle]

as long as you upgraded to v2 staking then Yes. It’s still staked and earning.

[gloomy gazelle]

Revdis will be received separately from regular staking rewards. A different mechanic. Claimed in a different way.

[gloomy gazelle]

Someone just staked 4.2 ILV for like $11 of gas. So pretty.

[drifting fractal]

Thanks for reply. So is it paid "in real time"? Or is there some sort of delay?

[gloomy gazelle]

That’s a question to be answered in an upcoming IIP. I believe.

https://tenor.com/view/that-is-the-question-that-is-the-right-question-gif-13658847

[loud ermine]

Ahh. No real point for me to stake as a small fish.

[drifting fractal]

Cool. What about am I eligible for land sale revdis if I stake after event is finished?

[loud ermine]

The fee is half the staking amount 🤣

[gloomy gazelle]

Not likely. But can’t say for sure. I certainly hope no one that staked after the land sale will be eligible to receive that revdis.

[drifting fractal]

The best option would be imo that revdis is paid as instantly as possible (or at least recorded and paid later) for stakers. So one would be eligible for revdis even if position is unstaked right after event, already before revdis is paid.

[tight jay]

Revdis will be used to encourage staking it will be paid over time taking random snapshots to prevent front running.

[final steppe]

Yes, definitely! You’ll still earn the rewards and see them accumulating on the dashboard just as you have been since you first staked.

And then once Revenue Distributions start happening, you will receive that as well! 🙂

[small island]

in v2 staking does one still earn tokens one an LP position that unlocked ?

For example, say I locked an LP position for 1 month and unlocks tomorrow. What happens after tomorrow ?

[cunning perch]

You can either withdraw or leave it there. As long as it's staked and not withdrawn it will receive Yield and RevDis

[small island]

If I leave it there (without unstaking / withdrawing) will I continue receiving the same yield ?
in that case whatever corresponds to 1 month locking (which is the min lock duration)

[cunning perch]

It will receive yield based on the same weight it had.

[small island]

ok. thx 👍

[tacit cedar]

Some of my vesting earned interest says V1 besides it - will these still be entitled to rev distributions or do zi need to somehow upgrade them? I upgraded the ILV and SLP pools already

[ember ginkgo]

They will get revdis, it just means you claimed them during v1

[tacit cedar]

Gotcha thanks. I swear at one poi t in the past there was talk of having to upgrade your vesting stakes so wanted too check

[ember ginkgo]

Yes, you had to upgrade to keep earning rewards

[gloomy mountain]

Hi Do unlocked but still staked SLP still earn rewards and revdis?

[final steppe]

Yes they do 🙂 They will continue to earn rewards and RevDis at the token weight you initially set until you withdraw them.

[worldly mica]

Hey had a question for anyone....is there still a quick link for the Sushi liquidity pool it seems the on on the illuvium website is not there anymore? Thanks!

[cunning perch]

Every link is in #🔗〕helpful-links

[worldly mica]

Found It Thanks!!

[visual pine]

I swapped my ETH to ILV and I can stake in the ILV pool on the website. However, to stake in the ILV/ETH pool, it says I need SLP. Any help?

[coral pike]

!lp

[woven ibex]

Providing liquidity is done via an ILV/ETH Pool on SushiSwap and requires multiple steps:

1. Buy ILV and ETH
2. After approving the Sushi contract you stake a 50/50 value ratio of ETH and ILV
3. You receive SLP tokens. (To see them, add the SLP contract address to your wallet)
4. Stake the SLP tokens through the Illuvium Staking App and set your lock period.

See #🔗〕helpful-links for official links.

[swift valley]

If you claim staking rewards in ILV, it'll be locked for 12 months and also producing staking rewards again at 2.0 weight, correct?

And if so, does it also do that while you haven't claimed your staking rewards yet? Or is it best to regularly claim your rewards in order to compound the staking rewards being staked?

[tacit cedar]

I personally regularly claim at low gas times for compounding, but my IQ is single digit and I'm not a financial advisor

[distant lake]

So it depends on how much you have staked. Because if you have A LOT, then the gas fee is smaller than the benefit of compounding. If you only have a bit, then the gas fee may end up making you lose money, long-term.

[gloomy mountain]

Got it….thanks

[swift valley]

Ahh k, so it does compound when you claim ILV. It doesn't while it's unclaimed rewards

[wraith raptor]

sILV2 Token: 0x7E77dCb127F99ECe88230a64Db8d595F31F1b068

[distant lake]

Think so, yep.

[placid veldt]

OK guys, so here is my situation, I try to claim my stakingrewards on the Illuvium website and I get this message: " New address detected! Click here to add to your address book." Thing is I do not recognize the metamask address. Any thoughts ?

[neat osprey]

QQ will revdis apply only to ILV stakers or also to ILV/ETH (SLP) stakers?

[ember ginkgo]

Yes

[untold dawn]

Hey my buddy is being hacked from phishing scam. Is it possible to move your locked staked assets to a different wallet?

[pure eagle]

No, it is not posible to move locked stakes. You have to wait for them to unlock to move them to a different wallet

[untold dawn]

Ok thanks!

[tropic parcel]

That sounds like a few red flags. I'd do a full system sweep for malware/viruses and ensure it's not on your end.

[slate dove]

Good night! I have just recently started DCAing into ILV. Will I be able to buy a land with staked ILV?? I want to play the game!!

[gloomy gazelle]

No. You would need to claim pending rewards as silv2 to use those tokens to buy land.

!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 sILV2 you have it unlocked right away (sILV2 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.

[slate dove]

Interesting, thank you!! And one last one, how can I play the game?? Will there be a min ILV required to play?? Trying to find that info

[gloomy gazelle]

!f2p

[woven ibex]

You begin our game with a free-to-play experience that immerses you in our richly-detailed world, lets you enjoy some action, and helps you understand how the game works. The free-to-play experience of the Tier 0 regions will familiarize you with Illuvium and won’t feel like an “abridged” version of the game. It is a full-fledged gameplay experience! If you like it, you can then decide to opt into the paid experience, start collecting NFTs from higher tiered regions and delve into deeper adventures to explore the mysteries of the game where the NFTs you gather start to hold more value as well.

Just after game launch, when everyone starts fresh, you might even be able to sell free Tier 0 NFTs on the IlluviDEX for ETH, but there is no guarantee for that.

[gloomy gazelle]

Eth or silv2 are the two tokens to use to pay for stuff in the game

[slate dove]

I really appreciate it!! I just learned that the game is made in Unity!! Are there dev logs?? I just saw The #814313779696238642 channel...should probably be asking there right??

[gloomy gazelle]

The #🎮〕illuvium-zero game is made in unity. The autobattler and overworld is made in UE4

[gloomy gazelle]

Staking fit very well here. You can check the pins in here too. Lots of good tools and info

[bright heart]

@elder dawn I'm so glad you nominated yourself. I think this epoch we'll have some game deciding decisions made regarding monetisation. And I think you have the rigth skillset to dig deep into this.

[short nexus]

Hello, why they did this choice ? to optimize on mobile the zero version ?

[gloomy gazelle]

Those are two drastically different games. #🎮〕illuvium-zero is a mobile game.

[short nexus]

Yep, I suppose that's why, Unity is less heavy, so better optimisation

[warm knoll]

I do agree a lot ! Really wanna see you in a council seat friend !

[tropic parcel]

@elder dawn do you have a platform or candidate profile setup somewhere? I know you're highly involved with the community, but I'd like to see your ideas on monetisation.. etc

[bright heart]

This is a long video, but goes into details about monetisation in the second half - #🎨〕community-content message

[sonic lotus]

Hahaha looks like Deraji got hella support!

[nocturne cypress]

Deraji deserves it 👏

[elder dawn]

Thank @bright heart for watching that whole chat! I'm working on an updated candidate profile and am setting up time with tsg for an interview. As for the most urgent issue, I'm working on analysis for how land sale revdis should be distributed. I'll have that in the next few days. For monetization, it's all about mainstream gamer adoption and retention, which points towards microtransactions.

[unique acorn]

Guys a quick question, after you claim ILV from staking it gets locked for 1 year and does compound as well right, so with what % does it do that

[cunning perch]

2X weight and based on the current emission/APY

[unique acorn]

alright ty, love that you guys help this fast ❤️

if i have more questions about this topic, i should just ask here again right

[cunning perch]

No worries 🙂 you can ask it based on its topic anywhere. If it's staking, then yeah, here.

[unique acorn]

what is meant by weight exactly?

[cunning perch]

you stake for a year you get 2X. To simply explain it: it means 1 ILV counts as 2. But it's much more than that. 🙂

[unique acorn]

So 5k investment on a 200% APY in SLP + if i claim as ILV it counts 2x?

[tropic parcel]

@elder dawn I'd be interested to see your opinion on the ideas contained in this reddit thread regarding obstacles and ideas to improve mainstream gamer adoption
https://www.reddit.com/r/illuviumio/comments/u8sc9v/discussion_regarding_iip20_parameters_for/i5pq8md?utm_medium=android_app&utm_source=share&context=3

[unique acorn]

so 15k would be 30k?

[cunning perch]

on paper yeah, but it's not that simple as there are lots of different weights in the pools. Also, in SLP, you will be exposed to IL which you should take into account. My previous explanation was just the simplified version of it. You can find lots of good vids about it

[unique acorn]

ok, but simply taken that would be the right direction

[cunning perch]

yep. The longer you lock, the more weight it gets

[unique acorn]

alrighty hope that i got it, love this community ty for the help

[elder dawn]

I'll check it out - I haven't been as active on the reddit threads for a while. I'll be sure to let you know my thoughts and share in upcoming candidate statements. Thanks for the question!

[woeful pendant]

so I have already upgraded. Did this move my tokens to v2 contracts? If not, then once my tokens unlock, do I need to "migrate" to v2 contracts?

[cunning perch]

since your tokens were staked on V1, they will always be on V1. V2 just copies them and reads them as if they are staked there. You will receive every feature except address change. When they unlock, you can either leave them there OR withdraw and re-stake/re-lock on V2 manually.

[woeful pendant]

ok, so it seems the advantage of keeping in v1 after unlock is that you don't have to re-lock and so tokens remain unlocked while still keeping your weight. Restaking in v2 means you got to re-lock. V2 advantages are more on gas optimizations (and if you wanted to change address). Is my understanding correct?

[cunning perch]

Yep. Also, if you use a new wallet, V2 gives you the advantage of being able to change wallet address even if locked.

[woeful pendant]

got it. Thx!!

[elder dawn]

@cunning perch - do you mind if I DM you? I'd like to ask you something off of the main chat.

[cunning perch]

sure. sent you a friend request]

[mighty rover]

After vesting period ends, do the tokens still give yield rewards at 2x weight without having to restake?

[elder dawn]

Yes, as long as you don't withdraw/unstake

[mighty rover]

Thanks for the info 👍🏻

[heady heron]

Hi guys how much is 1 slp worth roughly ?

[gloomy gazelle]

!contract

[woven ibex]

ILV Token: 0x767fe9edc9e0df98e07454847909b5e959d7ca0e
ETH/ILV SLP Token: 0x6a091a3406e0073c3cd6340122143009adac0eda
sILV2 Token: 0x7E77dCb127F99ECe88230a64Db8d595F31F1b068

[gloomy gazelle]

An easy way to check is grab the token contract and search for it on etherscan… https://etherscan.io/address/0x6a091a3406e0073c3cd6340122143009adac0eda

[heady heron]

It says $0 for the value but?

[elder dawn]

Right now, about $1570 per slp

[gloomy gazelle]

The top bit that says $0 tells you how many eth tokens are in the address. Further down gives the token price

[carmine badger]

Lots sold, less stakers, how come apr/y does not increase?

[cinder escarp]

More ilv tokens overall over time i guess?

[proud moth]

the ilv price

[ivory halo]

This sounds right if stakers is reducing. APR/Y is based in USD value, so actual returns may vary over market fluctuations of reward currency.

[elder dawn]

The reason is not a lot sold. In the last two weeks, there are about 3% more tokens staked in the ilv pool, and the slp is up 0.2%. Both pools are up.

[alpine glade]

Approximately how much $ in gas am I looking at to claim ?

I did a calculation about a month and a half ago when I started my stake but the prices have dropped quite a bit so I’m guessing I might have to wait a little longer before my first claim

[delicate plaza]

If you get sub 20 gwei it can be around $15 if I remember correctly

[tulip folio]

managed to snag 15 gwei gas a few hours ago and it was $12.50

[ivory halo]

That's almost a reasonable price for a transaction. Go ETH!

[maiden wing]

I just claimed my sILV2 for 0.002 Ether ($4.22) in fees - it was around 18 gwei

[fossil flame]

is staking ilv now the same as staking with the land thing later? or will they be sepereate

[ornate loom]

They are separate. Only ILV can be staked. Land aka Illuvium:Zero needs to be “played”.

[burnt copper]

Claim when you have between 5 to 8 ilv and gas is cheap (under 20gwei is great)

[brisk surge]

That will take a year!!!

[dire sluice]

lol, that takes a while... Some ILV whales here 👀

[ember ginkgo]

So Luggis should claim daily?

[dire sluice]

Compounding interest is the biggest force in the universe.

[timber sequoia]

who is luggis ? 😋

[ember ginkgo]

Just one of the biggest ILV holders 🙂

[half spindle]

I just claimed ILV rewards, went through, but I don't see ILV in my wallet. Anyone else had this happen?

[ember ginkgo]

Did you check the vesting tab on the website?

[swift iris]

The ILV will be locked for 12 months, so it shouldn't show up in your wallet yet

[half spindle]

Oh silly me 🙂 Totally forgot about the vesting period. Sorry to bother and thank you.

[south fable]

Do you mean that we can change the wallet in v2 staking now? How do we do that?

[cunning perch]

If its a new wallet and only has stakes on V2 directly (no upgrading) , that should be possible.

[south fable]

I see, it is an old wallet in my case and i have upgraded to v2. I guess its not gonna work then.

[cunning perch]

Yep. old wallets won't work 🙂 gotta be a fresh wallet that has had no exp with ILV staking before

[frozen lagoon]

this maybe wrong at this moment, there is no transfer asset function enabled yet as one of my wallet is compromised on v2, @gloomy gazelle said the function is not enabled yet

[frozen lagoon]

or do you have a different method on how to do that on v2

[cunning perch]

is your wallet new? Have only staked on V2 or you had previously staked on V1 as well? (in other words: have you been required to upgrade?)

[frozen lagoon]

no

[cunning perch]

could you plz be more specific as which questions you were answering? 🙂

[frozen lagoon]

i even used a new wallet to stake a minute amount of ilv on v2 just to see if its my main wallet that has an issue but yet i got no migrate function

[frozen lagoon]

new wallet please no history of previous activity.....very new wallet

[cunning perch]

The wallet transfer option will not be available for V1 stakes (for anyone that had to upgrade their pools), but only for new wallets that have 0 history with V1 staking. If this is the case, I'll ask around. But as Pelican has told you, the option might not be available yet.

[frozen lagoon]

itll be a life saver if i could get the function to work, token still trapped for few days as i originally staked for a month after v2 launch

[cunning perch]

@frozen lagoon just got the info: New wallets with 0 history of V1 stakes can change address on the contract level, but the UI is not operational yet. Gotta wait a bit till it is operational. No date yet. Team is working on it.

[gloomy gazelle]

https://tenor.com/view/very-nice-excellent-yes-meme-nod-gif-17397471

[frozen lagoon]

contract level? can i use some flashbot skill to call the migration directly by interacting the contract? or we need to wait for the UI to be operational

[cunning perch]

Can't help you there as I have no exp with flash bots in general buddy. But if you have the skills to interact with the block chain on the contract level, the option is available. The website UI still needs work.

[frozen lagoon]

gotcha thank you for this information, ill be in touch and if i happen to get it done i might share to the group as well. thank you buddy

[cunning perch]

happy to help 🙂

[acoustic obsidian]

So if i want to star staking, i move my ilv from binance to metamask and then go to staking site, connect metamask and start staking?

Do i need to add the ilv token in metamask? As a custom token?

[cunning perch]

yes you might need to add it manually. everything you need regarding staking is in #🔗〕helpful-links

[acoustic obsidian]

Is there any guide? I can't find any guide links

I know i have to add it manually but idk what to input there. Is the token adress?

[swift iris]

!contract yeah

[woven ibex]

ILV Token: 0x767fe9edc9e0df98e07454847909b5e959d7ca0e
ETH/ILV SLP Token: 0x6a091a3406e0073c3cd6340122143009adac0eda
sILV2 Token: 0x7E77dCb127F99ECe88230a64Db8d595F31F1b068

[acoustic obsidian]

Thanks

[cunning perch]

yes you add the token address in MetaMask to be able to see your tokens

[acoustic obsidian]

Is 15$ withdrawal from binance fee ok? Or should i wait for a lower fee?

[cunning perch]

you could wait for lower since the weekend is around the corner, but atm is normal.

[acoustic obsidian]

Does it drop on weekends?

[cunning perch]

Nothing is guaranteed

[silver nymph]

running into issues connecting wallet to stake any pro tips?

[gusty copper]

Can you explain the issue a bit more?

[silver nymph]

clicking the connecting wallet button and nothing...attempting on mobile

[gusty copper]

What browser are you using? Does it have a metamask extension?

I havent tried using my ledger at my phone. I only have my hot wallets. but sometimes i have to manually open a metamask tab in my phone browser and refresh it in order to get the confirmation window.

You need to have a browser with metamask extension. Having a metamask app does work. The app and browser cant communicate yet.

[silver nymph]

got it ty

[acoustic obsidian]

Hello guys, any tips for staking? How often should i claim my rewards? Are there any fees for claiming rewards? After vesting period they return to metamask?

[swift iris]

Just gas fees, so claim when gas is low and you're getting enough out that it will pay for the fees in relatively short time.

[acoustic obsidian]

The fees are taken from eth in mm or from rewarded ilv?

[swift iris]

I believe after vesting you still need to withdraw them to take them out, it's not automatic

[swift iris]

ETH in mm, so be sure to keep some there

[acoustic obsidian]

Ok, thanks for answers

[swift iris]

np

[dry ember]

I just went to claim 1.37 in ILV from Staking and it took the gas and said the transaction was blocked. The 1.37 on my dashboard is gone as well and not in Vesting??

[dry ember]

You have to pay a fee for claiming and another to withdraw. When you withdraw it says you have to do a claim transaction first so even if you just claimed to clear then go to withdraw you have to claim again. So 2 transactions to withdraw for each amount vesting.

[dry ember]

It took awhile but now shows 1.37 Vesting.

[swift iris]

Oh good!

[versed coral]

Staked yet again some SLP, keep them coming 👌👍

[charred mason]

I also just added more SLP

[spring shale]

I wanted to check up on my rewards for staking and realized they weren't there, I look back at my transaction history and realize someone had hacked it by unstaking it and moving it to a different wallet address, that was 6k worth of ilv that i purchased a while back what do i do?

[cinder escarp]

Make a new wallet

[cobalt solstice]

Where to stake?

[final steppe]

Responded to this in #❓❗〕community-help -- but as Brian said above, the only recourse really, is to create a new wallet and not use that compromised wallet anymore 😔

[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.

[final steppe]

ILV tokens can be staked on the Illuvium Staking site 🙂
Be sure to use official links in #🔗〕helpful-links

[timber sequoia]

sry for u mate. but there is nothing u can do

[brisk surge]

Does anyone know where I can see the total balance of staked ILV tokens? In terms of "there are currently 1 million ILVs staked" as opposed to just dollar value? I'd like to see a breakdown of how many are staked at 1 month weighting vs 12 month weight etc. - ( apologies initially posted this one minute ago under the "token" chat, but it probably suits here better)

[proud moth]

I remember someone made a nice dune dashboard about that. Check the pinned message, it should be there.

[swift iris]

Check out this sheet, you can find more info on it from Deraji at the infoluvial website #🥩〕staking message

[brisk surge]

@cobalt solstice have you read the white paper?

[fervent forum]

I staked 1 whole token today! Woohooo go me! 😅😆 And will be staking more ASAP! - The Pyramids weren’t built in a day remember.

[gusty copper]

one brick at a time

[queen forum]

I claimed my first approx. 5 ILV from SLP stake last week, almost 2 new minted since than ... not sure your reference to pyramid-building was an intentional pun ... could have said "Rome", so I'm assuming it was ?

[split mango]

https://tenor.com/view/countdooku-justbeginning-beginning-gif-21275421

[vestal spruce]

Hey guys quick question. The illuvium site states that there is around 400M in TVL on the IL staking pool. However if you go to the contract page in etherscan it says there is only around 12M worth of tokens there... What am I missing? My follow up questions are if all staked ILV will be illegible for rev dis and if the ILV on the ILV/ETH will be illegible.

[cyan rampart]

I'm seeing about $45.7M in the ILV Core Pool (V1 Staking), $12.2M in Illuvium: Migrate (V2 Staking).

The dashboard is also calculating vesting ILV rewards. 1.66M rewards have been distributed, about 240k have been claimed as sILV2, about 100k are unclaimed, and so about 1.3M have been claimed as ILV. That works out to $390M or so. Add it all up and you're really close to the Dashboard value of $442M staked ILV. You can get closer with the math if you want, I rounded a bit.

All staked ILV are eligible for revdis, and that includes Treasury, Team, Seed and Preseed Tokens on top of what I just listed. There should be something on the order of 7M ILV that are eligible for revdis.

SLP stakes get revdis for the ILV portion of their stake. Basically, 50% of the value of any given SLP stake is eligible for revdis.

[vestal spruce]

Cheers! Thanks for the comprehensive summary!

[fading nexus]

What is about to change, and why should it change??? Is there an explanation that I missed about this tweet somewhere already?

[ember ginkgo]

He is talking about revenue distribution

[fading nexus]

yeah, I understand that, but what should be changed, and/or what is wrong about it?

[cinder escarp]

You need to sacrifice 10 atlasses to join the illuvium cult👹

Jk i have no idea. Hope it wont be a big change

[fierce surge]

Hey guys. Is smart thing to claim ILV rewards from staking let's say day before Land Sale starts, to have more rev dis? If so, what is minimum of ILV tokens to make it worth claiming?

[bright heart]

Consider the cost of gas vs your hypothesys for the revdis amount. Deraji has a nice calculator, that estimates revdis amount. Also Scoriox has a few videos about this.

[fierce surge]

Can you please point me to this calculator? I have seen Scorioxes videos. I am wondering about other options

[bright heart]

Check pins in #🎮〕illuvium-zero it's like the 5-6th pin.

[fierce surge]

Thank you

Claiming of ILV from staking is only 1 transaction, right?

[bright heart]

Yes.

[potent slate]

in the vesting page,i can see my ILV staked,with "v1"...but i already migrate to v2...is it the same with you guys?

[bright heart]

If it was staked in v1, it will display that. If you look at a recent claim you made you can see those are staked in v2.

[potent slate]

there's no v1 or v2,in the rewards i claim...means it's v2?

[bright heart]

You can see your vestings. Some that you got were done in v1. After the migration was done, further vests/locks will be in v2.

[cyan rampart]

@red hill I completely agree, IMO there will be an inflection point before the end of YF at which it's more profitable to stake the ILV only pool. As liquidity gets pulled though, the APR in the SLP pool does increase, so it should balance itself for a while. At no point before the end of YF will it make sense for all liquidity to disappear from the SLP pool.

(Moving here btw)

[red hill]

yes, that is true

[cyan rampart]

I think during that time period, an appropriate incentive can be determined to ensure some minimum amount of liquidity. Like Ned mentioned, I think the easy solution is the allocate an additional percentage of revdis to the SLP pool. Nothing crazy, it should be sustainable with something on the order of 1%-3%.

[red hill]

maybe it would just be sufficient to set a fixed weight distribution between the pools (like it's now for YF) to ensure liquidity stays at a desired level

[bright heart]

So... what if we split the revdis for the 2 pools 50/50?

[final steppe]

👀

[red hill]

basically that is what I mean, only the distribution does not need to be 50:50

[cyan rampart]

That makes holding/staking ILV only substantially worse IMO.

We'd have some INSANE liquidity though haha

[bright heart]

Why? It won't matter what you hold. Wether you own $10k USD in ILV or SLP will net you the same revdis.

This will keep both pools afloat.

[red hill]

no, then it depends on the size of the pool

[bright heart]

Yes it will kinda force the 2 pools to have the same TLV.

I think wether you have staked ILV or SLP both benefit the protocol long term. So making them locked to one or another, it'll be sustainable.

[cyan rampart]

It is a solution, but we'll end up with more liquidity than necessary IMO. If we want to maintain a minimum amount of liquidity for vault buys, I think we only need to incentivize the SLP enough to ensure that liquidity.

Overall, we do want holding ILV to be better than holding equal parts ILV/ETH, if we're thinking about providing maximum value to ILV holders.

Liquidity beyond a certain point doesn't provide much value to the protocol - We're talking about the vault being able to make like, a few less buys a day. Something on the order of $100 or $1000 a day in gas fees.

Liquidity is only a problem when it's too low, and the vault has to make impractically large numbers of buys a day to limit the price impact of each buy.

[cyan rampart]

Just as an example of what I mean with the current amount of liquidity:

Let's assume that we opt for bigger vault buys (4% of total vault holding per day) and have a $100M land sale.
On the first day, which is the biggest daily buy the vault would make, it would spend $4M of ETH on ILV.

If we want to limit the price impact to 0.5%, we'd want the vault making buys of about 89 ETH, based on current liquidity. That translates to $183k buys, which means the vault would have to do 22 buys on the first day, or just under one per hour on average (at random times of course).

22 buys could cost as much as $50 each (let's assume it's a bad gas day, at 100 gwei average), which works out to $1100 in ETH spent on gas fees. That's 0.0275% of the total daily buy spent on gas fees. It's basically nothing, and we could easily do more buys with a lower price impact per buy, and still spend what is effectively nothing on gas fees.

It gets to be a problem if we were needing to do hundreds or thousands of daily buys to limit the price impact, and that's kind of the metric we should size available liquidity around.

[echo ember]

sorry, silly question: what's YF?

[south fable]

Yeah i wondered about this too. Any idea what Kieran means? I mean, the rules for revdis have been very clear for a year now, i don't think it is something that should change now?

[cyan rampart]

Yield Farm, basically the rewards currently being distributed to stakers.

[echo ember]

thanks - and when does it end?

[cyan rampart]

June 2024

[rotund sentinel]

Hey guys, anyone get this with no option to cancel?

[exotic igloo]

Been a long time?

[proud moth]

First don't trust any dm.
If you want to cancel you can send yourself 0 eth with the same "nonce" as this pending one but make sure you set higher gas.

[nimble terrace]

Hi fam,
Will land sale revenue be distributed to stakers?

[exotic igloo]

Yes

Lol what

hahaha

[nimble terrace]

Thanks!
Anyone done a calculation on estimated $ per ILV held?

[craggy field]

I didn't read correctly! I thought it said revenue that was made through lands XD my bad

[exotic igloo]

Probably some youtubers did but its all wild speculation haha

[nimble terrace]

Hehe that's true. Will it matter if sale is purchased with sILV or ILV?

[exotic igloo]

You cant buy with ILV

Only with ETH or sILV2

[nimble terrace]

Aha.. is it correct that sILV would "burn" ILV?

[exotic igloo]

But there is a difference yes, sILV2 are burned but the ETH collected is used to buy ILV and then distribute it to stakers.

[elder dawn]

You can check out my land dashboard in the message here. You can add your own speculation on how much sILV2 would be used and what you think the average sale would be in terms of percent of initial price. #🎮〕illuvium-zero message

There's a video of me and vetemor discussing this with directions, or let me know if you have questions how to use it.

[nimble terrace]

Okey thank you both, very appreciated!

[rotund sentinel]

pretty averse to DM scams but ty sir 🙂

[rotund sentinel]

Yep... no option to cancel and doesnt prompt me on my ledger

[ember ginkgo]

Did you try to reset Metamask?

[rotund sentinel]

hmm im wondering whether its an issue with firefox now... has anyone has problems using ledger through firefox lately? I've tried the step @proud moth recommended but ledger isnt being prompted to confirm tx

[ember ginkgo]

Did you try to reset Metamask?

[nimble terrace]

Hi again, is 1 sILV = ILV?

[exotic igloo]

Yes in the game and in the sales

[ember ginkgo]

Inside the Illuvium eco-system 1 sILV2 is valued as 1 ILV

[rotund sentinel]

all sorted now - think it was my mac bugging out, done on desktop, thanks for help guys

[nimble terrace]

So if for example 1 million sILV is spent in land sale, then total supply will go to 9 million ILV?

[exotic igloo]

Yes

You get the idea

[ember ginkgo]

(242,651 sILV2 claimed at this moment)

[nimble terrace]

Aah thanks both for input!

[nova brook]

Just purchased and staked my first 3 ILV coins!! Going to buy more next week and learn how to add liquidity so I can get involved in the SLP pool. Its not as simple as purchasing a coin and staking it correct? need to add liquidity into the eth + ilv pool first??

[elder dawn]

!lp

[woven ibex]

Providing liquidity is done via an ILV/ETH Pool on SushiSwap and requires multiple steps:

1. Buy ILV and ETH
2. After approving the Sushi contract you stake a 50/50 value ratio of ETH and ILV
3. You receive SLP tokens. (To see them, add the SLP contract address to your wallet)
4. Stake the SLP tokens through the Illuvium Staking App and set your lock period.

See #🔗〕helpful-links for official links.

[remote mauve]

if u bought 16k eth 8total n 16k ilv 53 total how many SLP would that give u?

[craggy field]

Check out Zerion, SLP ILV/Eth.
1 token now goes for 1618 dollars so 32K/1600 = roughly 20

[hearty scaffold]

My feelings are that it will be to restrict gamifying any revdis before big events like land sales. Keep the ILV staked until land sale, get revdis, unstake and sell. Then buy back in before any further big events. I have a feeling they may implement a minimum hold period to mitigate against this manipulation, which I would totally be in support of

[brisk surge]

There is already a 1 month minimum staking period.

[hearty scaffold]

Is that enough though? 1 month is easily manipulated

[brisk surge]

Personally I think its enough considering that long term stakers will have twice the weight as well. Staking for 1 month to get half as much revdis as long term stakers isnt really a great flip IMO.

[potent sable]

I agree but deraji helped me realise that isnt the actual problem

If you double ILV in 24 hours then everyone sells off

[elder dawn]

Feel free to read the extensive conversation in the #809220563397902346 about 20 hours ago. Bring your popcorn. The challenge isn't entirely staking duration or tokens staked - right now about 83% of circulating tokens are staked, so there really isn't much room for people to come in before the land sale. The bigger challenge is in the distribution of tokens. I shared my perspective on this in my article yesterday and quite a bit in last night's chat. The biggest gaming the system is timing the DAO's buy and selling off after the price jumps, which takes unlocked tokens to take advantage, or being the first to dump your revdis.

[timber sequoia]

please vote Deraji ^^

[acoustic latch]

gonna be a dumb question, but lets say im in urgent need of crypto for whatever reason, i can claim rewards as silv2 and uniswap it to Eth, correct? obviously at a significant loss, but possible right?

[keen ridge]

Yep

[blissful badge]

Can someone please tell me if I have Ilv rewards that I haven’t yet claimed do they still get a share of the dev dis? Thanks

[gloomy gazelle]

No. Pending rewards do NOT receive revdis.

[final steppe]

⬆️ Yup— important to note that pending rewards do not earn anything. You will need to claim them as ILV if you want to:

A) Compound your rewards and earn more yield from staking

B) Earn RevDis

Keep in mind, when you claim ILV, it is vested in the ILV core pool and locked for 12 months

[gloomy gazelle]

Those vesting tokens are able to receive revdis.

[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 sILV2 you have it unlocked right away (sILV2 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.

[blissful badge]

Thanks

[blissful badge]

Thanks

[fierce surge]

Is this written somewhere or where do you have this info from?

[brisk surge]

I think it would be in the medium article about V2 staking. You can also open up the staking interface on the website and it’ll show you the options.

[brittle aspen]

Hey guys I'm new here

I want to ask some questions about the project

If I want to get involved in staking is there a minimum I need?
And also what's the returns like if I do get involved?

[fierce surge]

Oh wait, but you mean like thats for staking, right? Not like you need to have staked/vested for atleast month your ILV for revdis, right?

[ember ginkgo]

There is no minimum for staking. You just have to make sure it's worth the gas costs

[brittle aspen]

Can you claim daily

Or is it a lock up period?

[ember ginkgo]

!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 sILV2 you have it unlocked right away (sILV2 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 aspen]

I'm confused. So what gets locked up?

[ember ginkgo]

When you claim your rewards, the rewards are locked for 12 months (if you claim it as ILV, sILV2 is unlocked)

[brittle aspen]

Ok so is there a difference if I claim where its unlocked straight away? Do I lose out on anything?

And if I claim it as ilv or silv2, can I swap it out for like usdt or something?

[ember ginkgo]

Once they are unlocked, you can do with it what ever you want

[brittle aspen]

I'm on trust wallet

I load up the browser
It says please switch your wallet network to mainnet to use this app. What does that mean?

[silent arrow]

this means that your are on another network than ethernet

[brittle aspen]

Yh sorted it. Where do I buy slp from?

Whats the difference between the ilv pool
And ilv/eth pool

[brittle aspen]

??

And as for the gas fees. When I stake if the amount I make isn't more then the gas fees. Will it tell me?

[carmine drum]

The reward is displayed in both ilv/silv2 value and usd value.
The gas fee is displayed in both eth value and usd value.
So it’s up to you to determine whether to make the claim or not.

You can pay $20 in gas fee to claim the reward of $10 every minute.
Or you can pay $20 in gas fee to claim the reward of $1000/ $2000/ $5000 every week.

[cinder escarp]

Only 100 minutes in a week? 👀

[carmine drum]

The reward is generated every 15s, the number above is just a placeholder.

[brisk surge]

hi, you can find a useful video on youtube abut how to do this, in short, you go to sushi swap, have the same value of ILV and ETH and provide liquditiy for the pair. Then you will get the slp, you will come to stake it on the illuvium.io. But if you have small amount of money, will not make a lot of sense, you will lose more on the transactions. hope i answer you question.

[sonic saffron]

market will take care of this. speculators buy before revdis just to sell for higher price before revdis, other speculators stay staking for revdis

it's not meaningful at all

also because when Illuvium gets up and running, revdis will be continuous from ingame purchases/marketplace fees

big revdis events, like landsale, will be mostly bought with SILV2

how many eth do you think tier5 will max go for? Like 1000 eth per plot? So 2000 eth spend will move price of ILV by ~5% vs eth

Kieran is just hyping up everybody for the landsale which is fine 🙂

[ember ginkgo]

He is? I think he has been quite calm

[sonic saffron]

Look at his revdis tweet hehehe, he is trying to create fomo

[sonic saffron]

Same with stocks that have dividend btw, look at SHELL for example with quarterly dividend pay outs, price always bumps a bit before div payout

[sharp gyro]

Ever ready for June 1st!

[cinder escarp]

?

[final steppe]

Aw, that's my birthday!

https://tenor.com/view/ryan-reynolds-smirk-stare-smile-you-remembered-gif-12676282

But perhaps you mean the following day-- the first day of the upcoming land sale (June 2nd)

[lost trench]

Ah yes, June 1st. lIlluvium Land Eve when we go to sleep with visions of NFT land plots dancing in our heads....

[acoustic obsidian]

Hey guys, what means "weight" in the staking site? At the vesting section. It says "weight 2"

[crystal notch]

your tokens are worth 2x for revdis

[cyan rampart]

Token weight is used to calculate your relative staking rewards and revdis. Tokens at 2.0 weight get double what tokens at 1.0 weight get.

[acoustic obsidian]

And why do I have 2?

[final steppe]

The token weight is related to how long you locked your staked tokens for. If you locked for 12 months, you get a token weight of 2.0.

Those who did not lock their tokens (back when that was an option), received a token weight of 1.0.

Those who lock between 1 and 12 months, receive a token weight between the two 🙂

[acoustic obsidian]

Ok, thanks for the answers ❤

[gentle star]

Do SLP pairs receive revdis on both the ILV portion and the ETH portion or only the ILV half? For example, if I have $1000 in SLP (so $500 ILV and $500 ETH), will that receive the same revdis as $1000 staked as ILV? Thanks!

[crystal notch]

only the ILV portion i believe

[dusky eagle]

So revenue from land sale will be divided from the ILV holders?

[coral pike]

only plots bought with ETH plots bought with Silv-2 generate 0 revdis

[distant lake]

yeah tbh, I'm not too excited about revdis from the land sale. I just don't think it's gonna be a big deal. I think there are many other things about illuvium that are more exciting.

[jade marlin]

is the pinned gas calculator still accurate after staking v2?

[timber sequoia]

u must enter manualy your estimated gas.
And that's OK

[jade marlin]

do you mean for the staking rewards sheet? I meant the transaction fees sheet, which shouldn't be a manual estimate, if I understand correctly

I'm sure it's still valid for stuff like buying tokens off sushiswap, but it's the staking I'm not so sure about

[gaunt wedge]

Do you know when is the revdis ?

[brisk surge]

@amber iris here my friend here.

[gentle star]

I heard on an ILV and SLP staking video that the APY changes regularly. What causes the APY to go up or down? I see the SLP APY is around 200% right now. Some videos showed it as high at 700%+ at some point. What caused it to decrease so much.

[brisk surge]

is alway decreasing, during the 3 years. 78 epoch

[amber iris]

it only goes down, amazing incentive to lock up for a year now right?

[gentle star]

Are there details anywhere explaining why? So will it be 0% at the end of 3 years from whenever it started?

[ember ginkgo]

To get double weight for revdis, I sure do think that is worth it

[cyan hamlet]

Yes, it will because the supply is limited. But rev dis will still work

[brisk surge]

it is not a pump and dump project, now you will have the revdev, from staking the ILV. for example the first one will be after land sale on 2 june.

[bitter hearth]

yes, then its only revdis

[fair wharf]

I saw your efforts in the other channel. There is a way to speak critically while remaining constructive. Please do so and spare us your anger.

[amber iris]

the token supply is set, most is distributed early

[ember ginkgo]

You can still earn yield for 2 years

[amber iris]

Look, it seems to me every question i have posed is answered with blind admiration for every single decision made. I don't see any actual discussion points to go off of

[ember ginkgo]

We just reply with facts?

[fair wharf]

Propose how you would alter the tokenomics then. I saw no such idea in the other channel.

[amber iris]

i don't see why incentives for locking wouldn't be looked at

[brisk surge]

it will you need to propose it.

[gentle star]

Is there a schedule that shows what the APY will be until it stops? I'd like to be able to model out what the true APY will be for each lockup period.

[amber iris]

why has no one else already? It's so obvious, its concerning to me it hasnt already been altered

[brisk surge]

https://gov.illuvium.io/#/create

[cyan hamlet]

Tell me which kind of incentives do you think would be good for 1 year of lock

[brisk surge]

you want a constructive discusion or just some bla bla bla?

[amber iris]

im not suggesting to do scam apy to lure people, thats dumb. But the current incentives are non existant. No one will lock up for 1 year. So why even have it anymore

[fair wharf]

I think your time would be better spent writing your proposal.

[ember ginkgo]

I don't see the point in creating this since for now nobody agree with him.

[amber iris]

let people who want to leave leave and be done with it

[cyan hamlet]

I'm fine with staking system, srsly

[ember ginkgo]

They can

[brisk surge]

do we have in place some sistem to avoid this tipe investors to make proposals?

[cyan rampart]

You have no data indicating that. You're just rage speculating and making shit up

[ember ginkgo]

Doesn't matter, everybody can make a proposal. If we don't like it, council says no.

[fair wharf]

All ive heard from you is “give me more or let me break the agreed upon contract”

[amber iris]

i have common sense that the current reward for doing so makes no sense

[cyan hamlet]

Dude, they have emphasized a lot that you cant unlock until your lock ends. Your tokens are locked in a smart contract, they cant change it.

[ember ginkgo]

And in a server with 195k people, you are the only one saying this.

[brisk surge]

i mean some one can spam it or something like this.

[amber iris]

im the only one who gives enough of a shit to come in here and say it, everyone else will just dump and leave.

Again, all i see from you guys is blindly supporting every decision made

[cyan rampart]

Disagree, and apparently so do some others, because 41k ilv have been staked in v2

[ember ginkgo]

Again, all I see from you is assumptions.

[amber iris]

yes simple assumption: 10% extra apy does not equate to locking up an asset this volatile for this long, plus locking the rewards up. It just doesn't make sense anymore

[ember ginkgo]

Where do you get this 10%?

[final steppe]

I think what needs to be realized is that no one forced you or any of us to lock our staked deposits for 12 months. Most of us understood exactly what we were getting for locking our tokens for 12 months... and the rewards we are receiving are the same rewards we planned for when we first staked close to a year ago.

12 months = 12 months and there's no shortening that timeframe, regardless of how the market is performing and how the ILV token price appears in reality compared to what you thought it would do.

If you don't see the value in locking up your tokens for a year, and then do lock your tokens, you may be upset before the year is up if you care more about the token price in the short term.... and as such, you likely shouldn't have locked your tokens for so long in the first place.

If you THOUGHT you saw the value in locking for 12 months and now you no longer see that value, you may not have thought extensively enough about your 12 month investment.

This is not the team's or the DAO's fault. Always DYOR and understand what it is you're really getting yourself into before you pull the trigger.

[fair wharf]

No one is forced to lock their tokens sir.

[amber iris]

revdis is a fairy tale until proven otherwise so please dont use that as the argument

@ember ginkgo current rate for single sided

[ember ginkgo]

APR: 18.57%
APY: 20.23%

[amber iris]

ok fine, but instead of taking this mindset, why look at what i'm saying

[amber iris]

yeah thats the rate for 2x

which is funny, you guys feel the need to publish the max 2x rate on the site instead of the default rate because you know you need to make it look better

[ember ginkgo]

You are the one talking about locking for 1 year

[gentle star]

I'll come back and ask when things are less heated, lol.

[fair wharf]

Gonna repeat this… There is a way to speak critically while remaining constructive. Please do so and spare us your anger.

[amber iris]

all im trying to say is, instead of these garbage arguments you guys are giving me, why not instead look at what was decided awhile back and re-examine it?

[cyan hamlet]

Dude you are the ONE complaining about it

[amber iris]

all im seeing in here is echo chamber, no one willing to critically examine anything

[ember ginkgo]

Please stay respectful. I don't appreciate the "garbage arguments".

[cyan hamlet]

You mean no one to do what you want ? hahahahaha this guy is clueless.

[brisk surge]

We need to stop argue which him, it is the only way.

[amber iris]

when im saying why not look at the rewards and am given a response of "LOL you fucked up locking up bruh", yeah i call that garbage

[brisk surge]

Bro begging for more money isnt a good look. If youre regretting your lockup duration just wait till its over and sell.

[cyan hamlet]

because you were crying in token channel about your huge loss

[amber iris]

im trying to have a discussion and you guys are literally just talking shit, see above 2 comments and tell me im the one whos crying

[cyan hamlet]

#💰〕token message

[cinder escarp]

You are, you coudve seen what you got into before you staked. I dont see how you blame the project

[ember ginkgo]

You are not trying to have a discussion, you want somebody to say you are right and you are not willing to listen to what anyone is saying.

[cyan hamlet]

exactly.

[amber iris]

ok for the 34543258723448732094872398574938657439857430294823094th time, forget what i did.

Look at someone just discovering this for the first time. They buy some ILV. They look at the staking. Why the flying fook would they lock up for any time? What is the incentive?

[fair wharf]

Dawg we have been respectful but you arent seeing the importance of maintaining integrity. Everyone was given the same conditions for staking. You are not special. Now your options are simple. Make a proposal. That’s it. You agreed to lock for a year. That’s the end of the discussion.

[amber iris]

what im seeing is a project that is taking people who took a leap of faith for granted

[brisk surge]

Or heres an idea. Since this is a DAO you can write a proposal explaining in detail why the staking rewards should be increased and where that extra money would come from. If its a popular and well thought out idea it'll get voted on.

[fair wharf]

They dont have to lock….

[jade marlin]

at the end of the day, there are higher rewards for locking for longer, and no there's no crazy APY by looking at the %s at face value, coz staking rewards for the heck of it are unsustainable, in this case they eventually end and are used as a way of boostrapping liquidity and it seems to be working well

if you think the rewards do not justify the lock up period, that's just your opinion and that's fine, you don't need to lock up for a long period of time (nor stake at all if you don't want)

so pardon me for being a bit cheeky but if I interpret your messages as saying you think the APY is low (compared to other crypto stuff) then yes, you're right
and if you therefore don't think it's worth it to stake locking for a long time, then don't

[cyan hamlet]

You think only higher APY are good incentives ? Dude, if they do their own research they will in fact realize the revdis potential

[amber iris]

and doesn't seem to care to keep them around. You need to readjust things over time

[ember ginkgo]

For many people 20% + Revdis is enough. It should be clear by now that nobody here thinks this isn't enough.

[brisk surge]

who want to see my first try of beta play today. I will stream it, leave this gentelmen alone.

[final steppe]

They don't have to lock. No one is forcing them. Those that see the value in locking, can do so. Regardless, all staked tokens will earn yield for that period of time, accruing more ILV... and then also receive revenue distributions ⤵️ (If this isn't valuable to them, then they don't lock.)

[woven ibex]

The DAO distributes 100% of revenue to token holders.

Revenue distributions are claimed through the official Staking App as unlocked ILV. The vault converts ETH spent in-game into ILV by the main Sushi pool, which increases the token price.

[brisk surge]

Not sure what world this guy is living in where 200% apy isnt a good incentive.

[cyan hamlet]

@amber iris I bet you didn't read it properly

[amber iris]

why not give people who locked for a year some nfts when game launches? literally something. I'm not saying to jack up the apy which i know you cant really do. I'm saying to get rid of the 12 month lockup when the rewards just dont match what youre being asked to do. One of those two

[brisk surge]

You realize you didnt have to lock for 1 year right?

[ember ginkgo]

You already got your tokens doubled and you still want more

[amber iris]

Yeah, i fucking do, what's wrong with that ?

[cyan hamlet]

play the game to get your NFT's or buy them in marketplace.

[jade marlin]

the part of "the rewards just dont match what youre being asked to do" is just a highly subjective opinion coz no one can predict the future

[brisk surge]

So maybe next time lock for the amount of time that you think is 'worth it'

[amber iris]

Look at what Treasuredao did for people who locked up for long time, it makes this look like a goddamned joke

[final steppe]

This is where the opinions differ.
Most of the people who locked for 12 months believe the rewards DO match.
Those who believe they don't match, likely didn't make the right decision for themselves.

[ember ginkgo]

Tbh I think the rewards are a massive joke, I would have done it for half

[cyan hamlet]

or simply don't lock your tokens.

[brisk surge]

Its been a while since we've had a good ole troll. I missed this.

[amber iris]

so all of your mindsets are, the 10% bonus to staking is flawless, and everyone will relock and/or not sell, and anyone suggesting a change can go f themselves and is greedy? This is so arrogant its hilarious

[ember ginkgo]

Who said you have to relock?

[amber iris]

this is a horrific echo chamber, literally all of you might as well be the same person, never seen anything like this before

[gentle star]

Everyone here seems to be "arguing about arguing and who's arguing or not".

I'm fairly new to this project but have been trying to deep dive into it recently.

So if everyone here wants to have a discussion, how about you start writing what your "points" are that you want to discuss.

When I look at the APY, it's very high at 200% for SLP. Way more than anything else I would be getting in traditional markets. The declining APY is interesting, but makes sense if they are wanting to be sustainable. If the APY increased, that would be a bigger red flag for me since it would mean it's insanely inflationary and not sustainable at all. I see it as they're releasing ILV into the ecosystem to those that believe in the project. So the earlier you joined, the higher the rewards. Once all of the ILV are distributed, that would likely bring us to when the game(s) are live and hopefully there are revdis from game revenues.

Please correct me if I'm wrong. I'm fairly new and just giving my perspective.

[cyan hamlet]

Nah @amber iris , this is actually arrogant

[brisk surge]

I dont know what you are staking but im getting 200% APY, not 10%

[amber iris]

single sided you idiot

[ember ginkgo]

And muted again. Try again later.

[cyan hamlet]

You definitely doesn't deserve this project

[brisk surge]

LOL. Who chose that option? Did mean mean Illuvium fans come and click your computer buttons for you and make you do the wrong stake?

[fair wharf]

Guess we wont be seeing that guy on the moon 😎

[cyan hamlet]

bad for him

[final steppe]

Not saying everyone will re-lock. Just saying that those who see the value in it, will keep their tokens staked or lock new deposits for another 12 months.

Those who don't see the value in it, will either sell or stake for a shorter period of time. That's cool too.

If you stake for longer than you're comfortable with, it's not a tokenomics issue, in my eyes.

[brisk surge]

In all seriousness I do feel bad for ppl that went big on single sided staking when the price was super high. Its gonna be a loong time before they are in profit again.

[ember ginkgo]

Don't bother, he left.

[cyan hamlet]

And the magic beyond the staking system is that the moment you claim, you'll need to wait 1 year to get those rewards. For people that believe in this project, that mechanism is perfect to force you to hold your tokens. I definitely love it, no exaggeration

[fair wharf]

Hard to rug pull with these tokenomics

[cyan hamlet]

Yes.

[jade marlin]

sorry for asking again, but it probably got buried under the previous discussion
does someone know if the pinned gas calculator (aka transaction fees) is still accurate after staking v2?

[uncut sonnet]

I am one of those people who staked when the price was super high. I still believe in the project and have since staked more. I am totally focused on the longterm anyway.

[ember ginkgo]

I'm not sure if this got upgraded. This was made by a community member

[jade marlin]

aight, thanks

[ember ginkgo]

Sorry for the late reply

[gentle star]

Is there a schedule that shows what the APY will be until it stops? I'd like to be able to model out what the true APY will be for each lockup period.

As in when it decreases and by how much.

[swift belfry]

Looks like I missed a ‘fun’ conversation.

Turns out that people who are still sitting on big profits, even at this token price, don’t feel particularly hard done by. Heh. 😏

[proper prairie]

The amount of ilv that will be distributed every 2 weeks is fixed, the Apy nobody can tell you since it’s dependend on how much is staked in the pool and share their piece of the cake

[gentle star]

Thanks! I was reading the Staking docs and it says the amount distributed decreases 3% every 2 weeks. So I guess if the pool were to stay the same size, that would be the amount it decreases, but can change if funds increase or decrease as well. Is there anywhere to see when the volume of different staking contracts expire?

[proper prairie]

Hmm no, basically you can say that Apy will start to decrease more rapidly from end of June since than the token unlock of seeds etc start and the amount of ilv that can be staked will increase

[gentle star]

Oh thanks for the insight. Do we know what that volume getting unlocked is?

[proper prairie]

You can find under pinned messages in token channel

[gentle star]

Awesome, thanks! Do you anticipate the token price will move a lot when the seeds unlock or from the land sale? I know nothing is "financial advice", but curious if people are expecting those 2 events having large impacts on the ILV price

[proper prairie]

It might drop but I’m 100% long term in this project and even took a big bank credit to invest here since I believe 1000% in its success (NFA)

[gentle star]

Yeah totally. I really like what I've seen from this project and definitely want to get exposure to it, but definitely doing my research first.

[proper prairie]

In my opinion since the tokenomics and revdis is revolutionary coupled with a great game that combines 2 already loved models (TFT + Pokémon) this has to go to the moon some day

I bought my first few ilv in nov last year when token price was 1030$, and the big chunk I bought in march this year, currently at a loss for sure though but still most loved investment

[gentle star]

Mind if I send you a friend request?

[proper prairie]

Sure but please note all dms are scams and do not trust anybody

[delicate plaza]

I bought in at 1000-1200 initially also. I don't feel hard done by whatsoever - it's not the devs fault the whole market is down. the APY from SLP staking has helped offset the unrealized losses greatly and the project in my eyes has only looked better and better with each week that goes by. Token price being so low to me is only an opportunity to add to my stack for the inevitable future success

[brisk surge]

Both it at 80$, and no plans to sell till my 20 ILV ( 1600$ invested) will become 160k. Taking in consideration APY, game launch and REVdev, is around 3-5 years i think. 🙂 But who knows...

[gentle star]

Once all of the epochs are done, is there expected to be any staking yield at that point? Or would people only be staking to get the RevDis?

[brisk surge]

2 option. But in the future we may see some changes. I have seen some idea in the discusion, in the government section.

[gentle star]

Thanks. I know AAA games take time to build and I am prepared to be patient, but have they announced an estimated game release date? After the land sale, will the land be able to start harvesting fuels right away?

[brisk surge]

https://docs.illuvium.io/whitepaper/roadmap
+
you will be able to build, but all will go to 0, when the main game will be launched.

[gentle star]

What do you mean everything will go to 0? Like everything built on the land will get reset?

[brisk surge]

yes. you will just practice it for now.

[final steppe]

Correct. After this first land sale, the landowners will have access to play in the open Alpha of the game... but the fuel generated is not going to be on the blockchain. Then once the open beta launches (along with the main Illuvium game), the land plots are going to be reset... and THEN real fuel generation will begin.

**You will get to keep any blueprints you research, even after the reset for open beta.

[gentle star]

I see. Thanks! Trying to read as much as I can before asking dumb questions, but appreciate the answers and links!

[brisk surge]

I was the same, is not easy to find everything online. We also working on it as well. You can watch some youtube video, very useful. if sotting give as a question.

[brisk surge]

did not know that we will be albe to keep the blueprints, somting new for me.

[gentle star]

Yeah I watched a bunch of videos on youtube so I could at least ask a half intelligent question and understand the answer haha.

So are the blueprints what you use to create the illuvials? What's the process to create them once you have the blueprints? Also, I can move this over to a different channel if it should be here.

[brisk surge]

best place to ask questions is in ask-us-anything.

Bueprints is like a skin for the armor and not the NFT it self, to be able to catsh the NFT(illuvials) you will need to pay a travel to a fee, to teleport to a specific location and some shards to catch them. There is 5 tire of location and 5 tire of illuvials, the higher is the tire the more you will pay. But you always will be able to play for free, but you will be able to go to tire 0 land, and catch tire 0 illuvials. Sorry for english if something.

[final steppe]

Threw a little quick answer in #🎮〕illuvium-zero and can continue there!

[gentle star]

Awesome, thanks guys! I'll head over there.

[sharp gyro]

Happy I checked this thread out. Lotta useful info

[lusty pecan]

Wow didn't know you will be able to find blueprints and then keep them. Awsome!

[bright marten]

i stake a month,when the date end ,will need stake again??

[proper prairie]

no you dont need to stake again, you can just keep it there and not withdraw it, it still continues to earn you yield and revids. but on the same weight that you staked for. (if you want higher weight, you can choose to withdraw and stake again for a longer lock period)

[cinder escarp]

Has it been confirmed that you only get revdis from landsale of tokens staked BEFORE the land sale start?

[cyan rampart]

That's not super clear yet. Still being decided it looks like, unless the team has a plan in place they will share with us.

There would have to be a snapshot for revdis to only to go stakers who got in before the land sale.

[cinder escarp]

Yeah but that will influence when i will stake more and maybe already claim the small amount that i have from staking rn. Otherwise that is not relevant yet

[wraith heart]

Does anyone know off the top of thier head what day. Seed rounds start their unlock? Cheers

[craggy field]

30 june or 1 july

[wraith heart]

Ok thanks. Time to open a hedge on my stake round then I think.

[cosmic sinew]

hi

quick questions I have ILV/ETH staked for 12months, if I claim the rewards, they are not availble until after the 12month vesting period. Is there any benefit in Claiming them now?. i.e. do I need to claim them for them to compound during the vesting period or does this happen automatically?

[ember ginkgo]

You claim for them to compound. Gotta decide for yourself how much is worth the gas cost

[cosmic sinew]

ok got it. Thank you 🙂

[craggy field]

from march +3 months, so yeah i think everything now unlocks at the first of July. Seed as well as earliest stakers.

yep, it's a devious idea not to give away all Revdis in the first month 😄 Then the seed can't sell afterwards without missing out on anything :]

Just to really mess with them LOL

[cinder escarp]

Sounds like a plan

[south fable]

Regarding the revdis from land sale, has it been confirmed when the revdis is gonna be distributed? I know it will be at random times but i wonder if it is gonna be distributed over 1 week, 1 month or longer?

[brisk surge]

it is in discusion now. you can chek the governance section of discord. The proposal will be made soon i think and you will have the power to vote it.

[final steppe]

Only the 5 council members can vote on the proposals that are put forth.

So with the election coming up next week, be sure to review the information about all of the different nominees and vote for the candidate that best represents you and your values. They will be your "voice" when it comes to voting on proposals

[brisk surge]

yes, i suppose to mention, to vote not directly. My bad.

[bronze shore]

i cant unstake, the txn keeps failing

[final steppe]

Hey Analytics-- be sure and check you have enough ETH in your wallet to cover gas fees, of course.

Then another suggestion would be to check and see that you're setting GWEI to an appropriate amount. Seems to be floating around 40-50 GWEI at the moment.. so I'd set the GWEI for your transaction higher than that.

[sonic saffron]

Let's do it, then they will sell and we pick up ILV by the pennies

[sonic saffron]

[drifting pilot]

When is the SLP token unlockening happening?

[brisk surge]

it depens when you have staked it and for how long. you can see the info on the oficial web, in staking category.

[drifting pilot]

I mean for the guys that staked since the beginning

[brisk surge]

around 2 months.

[final steppe]

Staking began June 30th 2021-- so rewards claims would have started around then as well... which then become unlocked after 12 months 🙂

[drifting pilot]

Ok thanks guys!

[sharp gyro]

Does someone have a link for a good explanation for staking?

[final steppe]

Here's the Medium article the team published about the V2 Staking protocol. There's a link within this article to the earlier staking article (V1) which you may find helpful as well as a video on HOW to stake if that's what you're looking for 🙂

https://medium.com/illuvium/42-all-you-need-to-know-about-staking-v2-94e77f295ff

[scenic lark]

May seem like a silly question... when does the option for staking end.. what is the cut off point or is there a cut off? 😅 TIA

[final steppe]

Staking will always be active, really. Tokenholders must stake their tokens if they want to receive revenue distributions.

But the yield farming rewards (3 million ILV/sILV2) will all be distributed after 3 years. They began on June 30, 2021 so the last rewards will be distributed on June 30, 2024 and after that point, it will just be RevDis

[woven ibex]

The DAO distributes 100% of revenue to token holders.

Revenue distributions are claimed through the official Staking App as unlocked ILV. The vault converts ETH spent in-game into ILV by the main Sushi pool, which increases the token price.

[sharp gyro]

Thank you!

[true tundra]

hello guys! Any advantages on land sale for stakers?

[scenic lark]

Amazing thank you for clearing that up, much appreciated!

[final steppe]

Hey Bulkad-- already answered this in #814313779696238642
Please try not to post the same question in multiple channels.
We do check all channels and will get to the question as soon as possible

[drifting pilot]

What's the plan to keep the liquidity pool going after 2024 when there is no staking rewards anymore.

[cunning perch]

By then there will be lots of tokens in circulation and ppl themselves will keep on adding liquidity to the pools by trading ILV. Also, there won't be any Yield so there is no need for SLPs.

[brisk surge]

How does staking works new to illuvium

[craggy field]

The first step to staking is never to trust DMs.
Someone will help you in this channel when they have time. Sorry for not helping just yet 😄

[brisk surge]

Thanks mate

[craggy field]

Until then you could check the pins!

[elder dawn]

!staking

[woven ibex]

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

• Acquire either ILV or Sushi LP tokens.
• Go to the official Staking App.
• Enter the right pool according to the tokens you acquired.
• Decide your lock duration. The longer the lock, the higher the weight.
• After approving the contract, confirm the staking of the desired tokens.

[uncut sonnet]

To get SLP tokens you add ETH + ILV in Sushi Swap, then stake them. After the yield farming is over, is there any use for SLP? At that point do we sell the SLP as a whole unit or is there a method to break them back up into ETH and ILV?

[coral pike]

!lp

[woven ibex]

Providing liquidity is done via an ILV/ETH Pool on SushiSwap and requires multiple steps:

1. Buy ILV and ETH
2. After approving the Sushi contract you stake a 50/50 value ratio of ETH and ILV
3. You receive SLP tokens. (To see them, add the SLP contract address to your wallet)
4. Stake the SLP tokens through the Illuvium Staking App and set your lock period.

See #🔗〕helpful-links for official links.

[final steppe]

You could choose to leave your ETH/ILV in the liquidity pool at that point and you'll continue to earn part of the fees from people swapping in and out of the pool... or you withdraw your liquidity by returning the SLP tokens and receiving the equivalent ETH and ILV back in your wallet.

We're still a ways off from the end of yield farming (another 2+ years left) so it remains to be seen if any other incentives will be proposed between now and then.

[uncut sonnet]

Got it. Thank you.

[thin mural]

Guys, 11$ fees to claim atm.

[final steppe]

Definitely missed that-- seeing over $100 now 😅

https://tenor.com/view/the-office-michael-scott-steve-carell-oops-gif-5026723

[thin mural]

:/ I instaclick when i saw 11$ ^^

[harsh breach]

What will be my ILV-ETH LP APR/APY when the vesting period ends (I could pull the LP out with "withdraw" button) ... but if I dont? I mean, would it be more beneficial to withdraw and relock for another year (as v2) or just leave it as it is (v1)? Where can I see my current liquidity APR?

[final steppe]

Hey deemon! How long did you lock those SLP tokens for when you first staked them?

[harsh breach]

unlocked like yesterday or so...

~8 months? I mean will my previous weight still be active after unlock becomes available (and I choose not to) or it will drop to the default liquid rate 114%?

[final steppe]

You will keep the same weight of 1.67 even after unlock, for as long as the tokens remain staked.

[harsh breach]

but it's with the current ... 114% * 1.67 then? so when I would unstake and restake for a year I would get 2.0 weight (but have my LP locked for a year).

is there any benefit besides increased weight (when I lock for longer period, like for a full year), to restake from v1 to v2 staking?

[devout bobcat]

i restaked to a different wallet from v1 to v2 and i feel like the transactions are a bit cheaper compared to v1 (i dont have data to back this up)

[harsh breach]

you mean the claim transactions? ah yes ofc. then it would be beneficial to restake.

[devout bobcat]

all transactions i think

[final steppe]

Yeah, deposits fully staked on V2 (as opposed to being on V1 and just upgraded to V2), should have cheaper gas fees across their transactions

I'm still one of those who are staked in V1 so can't fully confirm from personal experience 😅 But here's the snippet from the Staking V2 article

[harsh breach]

when v3 staking? 😅 (is it even in the pipeline now with the ETH v2.0 merge and everything (given that it will reduce eth transaction costs hopefully?)?)

[final steppe]

Aaron mentioned the aim for V3 is for it to be on Layer 2, if possible! 👀

[devout bobcat]

will be interesting to see how high the costs of claiming will be with the merge

[harsh breach]

L2 as in ILV own chain, like FTM or AVAX or BSC and the likes?

I have not exactly followed the ETH 2.0 benefits (besides not being minable anymore / energy costs) ... will it even reduce the costs? If it will, then it will kind of make many L2's pointless as their entire point was to reduce the ETH 1.0 insane transaction costs kind of. maybe speed also.

[final steppe]

That, I'm not certain of. I assume they'd stay on ETH... perhaps Immutable will have sort staking mechanisms developed in the future?

[harsh breach]

ETH = L1; L2 is something else... EVM compatible I assume, so it's still in metamask (like FTM, AVAX, BSC, etc), but another chain. Question is, will it use one of the existing L2s (where their native coin is used as fuel) or will Illuvium create it's own (where ILV is burned as fuel instead making it deflationary?).

[brisk surge]

How long did yielding get extended by.

[elder dawn]

yield farming hasn't been extended. The original intent is to distribute 3 million ILV over 3 years, beginning June 30, 2021.

[brisk surge]

I'm pretty sure it was extended

[elder dawn]

staking will last forever, with revdis being the incentive. I pay pretty close attention and I haven't seen anything shared extending YF

We also just started epoch (two week period) 24 of 78, so there's quite a ways to go. Once we get closer to the end (mid 2024), we can discuss if there's need to further extend yield farming, such as incentivizing providing liquidity. But so much will happen in the next two years, so no need to stress that right now.

[brisk surge]

I can't remember exactly what was said, it was said prior to staking being released. But I can't remember if it was about staking now.

[craggy field]

The seed investors' lockup was extended by three months. thats all :)

[bright salmon]

Three month end when ?

[craggy field]

I think juli first or june 30th as well
March +3months.

[bright salmon]

yeah, so it's close.

[noble orchid]

Is there a reason my ILV earned daily has reduced over this month?

[final steppe]

Hey CheQita-- APY will constantly change. Every epoch (2 weeks) the amount of tokens getting distributed as rewards is reduced by 3%.

New tokens are also constantly getting staked in the pools (especially the ILV core pool as all ILV rewards vest there) which will also contribute to a lowering APY.

If you are not also regularly staking more and more tokens, it is only natural to see the amount earned daily become lower over time.

[noble orchid]

I see! thanks

[unreal geyser]

Hi, is it possible to stake land NFTs?

[coral pike]

not at this time however Polemos is developing a automated nft staking system you can find out more in the white paper #899655780033261639 message

[untold wing]

Can I check if the distribution to "token holders", refer to the 7 million tokens circulating or the total 10 million tokens (3 million for the ingame rewards/etc) <-- just trying to do some math 🙂

[distant laurel]

what are the rewards of staking slp right now guys ?

[untold wing]

or the revenue distribution is just for the ILV stakers ?

[elder dawn]

Revdis eligible tokens are seed (2 million), team (1.5 million), treasury (~1.8 million), staked circulating tokens in core pools (~530k today) and vesting yield farming rewards (~1.4 million). Check out my articles on infoluvial.io. I've probably already done your math. 😁

[untold wing]

Thanks appreciate!

[untold wing]

where in infoluvial.io ya? very comprehensive website (too long :)) )

[elder dawn]

Go to Illuvium labs articles. I should be most of them. You can click on my name to see them all.

[untold wing]

This is golden! thanks Deraji!

[last agate]

If i stake 10 ilv in eth/ilv pool....how many ilv i would get in current rewards after 1 year

[gloomy gazelle]

If nothing changed (which won’t happen because it is guaranteed to change) you’d earn like 40ILV as yield farming rewards.

You’d get that many because you’d actually be staking 10ilv and an equal USD value of ETH in the form of sushi liquidity provider tokens. And the APR is right around 200% at the moment and the Apr is calculated based on USD value of the deposit and the usd value of the potential rewards.

!lp

[woven ibex]

Providing liquidity is done via an ILV/ETH Pool on SushiSwap and requires multiple steps:

1. Buy ILV and ETH
2. After approving the Sushi contract you stake a 50/50 value ratio of ETH and ILV
3. You receive SLP tokens. (To see them, add the SLP contract address to your wallet)
4. Stake the SLP tokens through the Illuvium Staking App and set your lock period.

See #🔗〕helpful-links for official links.

[gloomy gazelle]

It’s important to note that the Apr is variable. And trends down over time. Here’s an explanation I’ve shared before. #🥩〕staking message

[last agate]

@gloomy gazelle Thnx.....really appreciated

[short fractal]

Oh, so even if we don't withdraw them once unlocked, it continues generating rewards and is still considered active staking ????

[pure eagle]

Yes, that is correct

[ocean isle]

hi

[inner halo]

Buddy wants to get into YF. he's got 10k. Single stake or SLP stake?

He wants to take full advantage of rev dis. But likes the higher APY/APR on SLP. Just want to give hime the best play. What would u do in this situation?

[atomic lagoon]

personally, I would do 40% ILV and 60% SLP. NFA

[inner halo]

I was thinking similarly. Thanks for the response. He was about to just dump it in sushi pools and leave it. I mentioned something like you shared, with him. I just wanted him to have the best player advantage

[hushed valley]

Make sure he understands impermanent loss too before jumping into SLP 😛 my two cents

[final steppe]

@tidal charm Hey, moving over here from the token channel 🙂 So can you explain what it is you are trying to do?

Do you have SLP tokens staked and you're trying to claim rewards?
Or are you trying to withdraw your SLP tokens?

[proven timber]

Question . Do you have to have your illuvium token staked in order to recieve the Rev distribution or can you just have it sitting in your wallet ?

[quick dirge]

only staked tokens receive revdiv

[spice schooner]

And vesting 💪 (you might have meant vesting as well)

[plain hatch]

just wanted to confirm, claiming revdis gets staked for 12 months right same concept as yield rewards?

thanks just wanted to confirm

[elder dawn]

@plain hatch - @brisk surge isn't correct - revdis is available immediately. if you want to stake it, you need to do the staking transaction yourself.

[plain hatch]

thank you deraji and love your articles

[hollow vessel]

Hello What can i do with my old sILV token? Could I redeem it to sILV2 token?

[ember ginkgo]

Go to the official website found under #🔗〕helpful-links. Under the exchange tab you can find the claim sILV2 function

[hollow vessel]

I mean i already have old sILV token in my wallet. How can I change to new sILV2. Thanks

[ember ginkgo]

Go to the official website found under #🔗〕helpful-links. Under the exchange tab you can find the claim sILV2 function

[hollow vessel]

Found it thanks. But I have 5.9 sILV but can redeem only 0.1 sILV2. Why sir?

[ember ginkgo]

My best guess would be you have purchased your sILV after the exploit.

[hollow vessel]

I unstake my ILV from single ILV pool 30 minute ago and at that transaction it give me another old 5.9 sILV too. Then can I change it to sILV2 or not sir?

[ember ginkgo]

I’ll let @median canyon handle this one.

[hollow vessel]

Thanks you need tx link?

[ember ginkgo]

He will reply to you here when he is available

[hollow vessel]

Got it. Thanks Fraggy.

[craggy field]

Should be because the original staking contract uses the sILV to make up for the difference in rewards you would have gotten. So in that time, between claiming and un-staking you will have racked up like 2-15 cents of rewards and those are payed out in the form of sILV.
Everyone who staked in V1 will get some sILV dust.

[craggy field]

5.9sILV at this point is worth around 12 cents. So it would make sense to get that amount as unstaking dust :)

you'll not be able to do anything with it so just hide it from your metamask 👍

[hollow vessel]

Thanks for clalify Garf.

[past grove]

ilv you have vested can't be used right?
You would need to withdraw these first to be used correct?

[cunning perch]

any vested ILV needs to be withdrawn. Nothing has been vested for now.

[past grove]

Is it possible to withraw to the gamestop wallet?
When I try do withraw it is says that something went wrong with the transaction

[cunning perch]

You can only withdraw to the wallet it is already connected. There is no vested rewards to be withdrawn atm.

[uncut sonnet]

Where can I check out the revdis distribution formulas?

[coral pike]

Answerd in #814313779696238642 please do not multi post the same question ty

[orchid cypress]

Hello, I have rewards locked for a year in both ILV staking and the ETH/ILV pool. While my rewards are pending do they compound ? Or should I claim ? I see the claim option for ILV thats why I'm wondering

[uncut sonnet]

got it

[ember ginkgo]

You need to claim for them to compound

[orchid cypress]

okk! good to know thanks

[smoky cedar]

hey 🙂 staked my ilv a bit less than a year and now i can withdraw them if i want but i dont 😄 can i leave it just as it is ? or do i have to withdraw and stake again so its not in v1 anymore ? 👀

[cunning perch]

you can leave it in. 🙂

[blazing path]

Everything I’ve heard is you can leave it and keep collecting at the same weight. It’s just nice you have the freedom to remove the stake if you ever want to now. If you unstake it… if it is restaked the wait period will start over

[smoky cedar]

great thanks for the fast answers ! i will leave it 🙂 was wondering because of the v1 symbol

[unreal urchin]

Claimed both pool for $7

[brisk surge]

yes, at night is a good prices for gas. the best time to buy land 🙂 and sliv2 🙂

[median canyon]

No you cannot. It’s just a byproduct of the old contract.

[hollow vessel]

Thanks Aaron

[hot lynx]

Hi @cyan rampart how are you mate . I haven't been on the channel for a while. Just busy buying and staking. Question does RevDis from the land sale June 2nd go the the stakes in June

[cyan rampart]

Doing well sir 😛

Revenue from the land sale will go to stakers, but it's up to the council, team and community to decide on what the best way for revenue to be spent is. It's been an active topic in #809220563397902346 in the past few weeks.

[hot lynx]

Ok I will take a look , thank you

[hot lynx]

Good luck with the election mate 👍🏻 2 wallets 😂😂 2 votes for you

[flat brook]

When do you need ILV staked by to receive RevDis from the land sale?

[unreal urchin]

Anytime before distribution starts

[old yarrow]

Does an SLP stake also earn revdis?

[final steppe]

Yes, it does 🙂 You will earn RevDis on the ILV portion of the staked deposit... not the ETH half.

[fiery spire]

Can we expect the revenue distribution to happen a couple of days after the land sale ends? I know it will not be announced because we don't want it to be front runned, but can we expect it to happen before the end of the month of June?

[autumn wyvern]

hi

[cerulean halo]

So last year I staked ILV/ETH for a fixed period that ended in August last year. I haven't touched it, do I still earn interest on that? Do I need to claim and lock in again? If I earn interest on it, at what rate is it?

[fiery spire]

If you staked with a lock duration, you don't need to do nothing besides migrating your stake. Did you do that? You continue to earn interest with the same weight you chose when you locked your stake. Only the people who staked flexible (without a lock) needed to unstake and stake again to continue to earn interest.

Migrating is not the same thing as unstake and stake again.

Migrating is simply giving permission to the staking v2 contract to read your stake from the v1 contract, but your stake remains on the v1 contract until you unstake it.

Someone correct me if I'm wrong.

[ember ginkgo]

Sounds pretty good to me

[cerulean halo]

Thankyou. Yes, I did migrate to V2. Ok, glad to know I don't have to do anything. It would be good if the Staking page showed us what rate we are earning.

[heady wagon]

hello everyone, i came across a youtube video explaining staking $ILV on bakeryswap at 750% APR. seems to good to be true lol, so seeing if anybody else has came across it

[cyan rampart]

I haven't checked that particular video, but many of those videos have existed in the past. Sometimes, they are scams, directing people to fallacious versions of whatever DEX they claim has the outrageous APR.

Some of the time, the APR is accurate, but the rewards for staking are paid out in some token that is not ILV. Definitely be wary and DYOR, double check links, go to the official bakeryswap for example, and check if you can find ILV staking there.

[heady wagon]

yeah i got you, it says it pays you in $ILV lol which is what threw me off. can i dm you the link of the video?

[cyan rampart]

Sure

[visual oar]

gm, is the Staking site only accept Trezor as hardware wallet and not Ledger?? As I can not connect my Ledger....

[quick dirge]

works with ledger

[visual oar]

and how to connect, as he only shows Trezor!

or Ledger via Metamask?

[quick dirge]

you can connect your ledger to MM

[onyx flower]

Hi, I have a big issue. I just withdrew a large SLP stake and claimed SILV. It gave me SILV instead of SILV2, and I can't convert it.

I'd like to post the transaction but don't want to dox myself. The value of the SILV is 6 figs. is there someone I can dm with the transaction ID?

[gloomy gazelle]

It’s actually normal.

[onyx flower]

ok, just a bug then?

[gloomy gazelle]

You withdrew from v1. It can’t be changed to not mint sILV. Just ignore it. (Or dump the trash)

[onyx flower]

could it have been made into ILV if I hadn't chosen silv? i don't completely understand. Did i just burn 100k or what?

[gloomy gazelle]

Hmm let me see what I can figure out.

[onyx flower]

can i dm you the transaction?

[gloomy gazelle]

You can. Or join the private thread I invited you too.

Yeah it’s all good. When withdrawing from deposits into the v1 contracts it’s important to make a claim (that would be a v2 contract interaction really) and the withdrawal. The withdrawal will end up minting an amount of sILV (this is old dead v1 sILV, just ignore it because those tokens are accounted for in v2 contracts in other ways now).

[livid nebula]

Hi team can you direct me to a sushi video for ETH ILV to SLP?

[cinder escarp]

YouTube.com

[bright heart]

Many people have done it on YouTube. I think vetemor, scoriox and even more.

[livid nebula]

Hi @gloomy gazelle, having issues adding liquidity in Sushiswap. Using ledger through MM. Can add ETH and ILV but when ILV approval, it hangs as pending. It's a small amount about $5 but not going through. Have set ledger to enable blind signing as per MM message.

[cunning perch]

In the Sushi UI Setting, SushiGuard Gas Refunder needs to be turned off. Try it and it should go through. (provided you can't see the current TX on Etherscan

[livid nebula]

It's already off, yeah can't see anything on etherscan

[cunning perch]

then try cancelling on the Sushi UI (where you click on pending and there should be a X button somewhere). Your TX probably hasn't gone through and is a UI error. I'm guessing this is the issue

[livid nebula]

Yeah it's not even getting to pending actually, it says pending on the metamask activity tab but click through and there's no transaction. When I cancel it in MM, it's not cancelling... it's queueing another attempt.

[cunning perch]

If it is in MetaMask, you might wanna try with the nonce. There are some vids in YT that can help you how to cancel a MetaMask pending TX. If it is in Sushi, you can simple manually cancel it like it never happened.

[livid nebula]

yeah I think it's a MM problem, I had to do this is in a different account a while ago and send 0 to myself etc - thank you

[livid nebula]

So metamask created queued transactions but without nonces, nothing to see on the blockchain. So disconnecting ledger, updating chrome, reconnecting and logging into MM ensured they all "failed". I couldn't send 0 dollars to myself as there was no nonce. Good news I now have SLP 🙂

[gloomy gazelle]

Nice

[proven timber]

Any way to tell how many illuvium tokens will receive Rev distributions currently . Or best guess ?

Trying to compare buying land vs. restaking my current Ilv staking reward.

[hollow latch]

hey, will there be a way to have someone farming your land, but not have access to the NFTs themselves or be able to fuck it up somehow ?

[hollow latch]

I am also thinking about this. I'm thinking of buying land and then what I don't spend, just buy ILV after the auction. I do gave some ILV, but it's not much atm.

[proven timber]

My gut feeling is I will better off just putting my funds into Ilv. token and staking for long term Rev dis. and staking reward vs trying to compete for over priced land even though I want to play illuvium zero.

[elder dawn]

About 7.25 million ILV eligible for revdis right now.

[brisk surge]

Hi, can someone help please, how do I stake ILV/ETH Pool? I have sushi tokens but no SLP

[lean prawn]

Hey guys, question: I was watching this Vetemor vid on Staking in SLP Pool (for highest APY%), BUT he mentioned there is a barrier to entry due to Eth Gas Fees to Stake. - Based on 60gwei & $3,500 ETH (at time of vid), the Gas Fees should not cost more than 5% of your investment. So he said it’s not worth staking any less than $3,570 worth of ILV since the Gas Fees, would cost more than 5% of your position if you stake any less than $3,570.

1. Since ETH is now $1,900 and 30gwei, would the Gas Fees be way less now? (Enough to make Gas Fees 5% of a $1,000 ILV position, since I don’t have $3,570 to stake per his vid example).

2. Also, for SLP Staking if I’m planning to stake $1,000 would that be $500 ILV + $500 ETH? Or would that need to be $1,000 ILV plus $1,000 ETH? Thanks!

[lean prawn]

Watch this vid: https://youtu.be/BXO3l6fYNxQ

[elder dawn]

That video is pretty old - fees were way higher at that point before staking V2. The barrier to entry to SLP is much lower now, but still worth considering the risks. It's entirely up to you how much you want to put into SLP. I did another SLP stake recently, and my fees were about $26 (at 21 gwei, and using zapperfi to get the SLP). In staking V1, I had spend probably 10 times that at one point.

[lean prawn]

Ohh I see, good to know on these newer fees you got. I think those are much more tolerable if I only have $1,000 of ILV to Stake. - So if I were to do a $1k ILV stake then I’d have to match that with $1k of ETH as well, in order for it to work right? Thanks so much for your input!

[tulip folio]

Yeah it's iffy, but I keep having to remind myself that land will 1) have fuel revenue 2) have blueprint revenue 3) also likely appreciate. Considering we don't have a clue how much we can expect from any of that, it's ... complicated ... at best.

I mean you could buy a land, and then the game takes off and land becomes super duper ridiculously valuable, allowing you to flip it and buy way more ILV than staking it ever would have got you. Also you could buy it and get piddly bits from fuel, never get a blueprint worth anything, and the value even maybe dips.

I've already got a really good chunk staking, so if ILV works way better than land I'll already be OK. I'm going to try to pick up a decent land just on the chance it can create great revenue/value. I'm thinking the blueprints will be where you can make a lot.

[elder dawn]

Don't view it as $1000 + $1000 - just view it as $2000 if that's what you want to do. Officially, it will be half ETH and ILV, but just set the total level you want to contribute. I do like zapper.fi for this, as you can get the SLP in a single transaction and not worry about matching exact amounts of ILV and ETH. You can just start with $2000 in ETH or any crypto token, like USDC (plus ETH for gas), and say you want the ETH/ILV SLP, and it will do it in a single transaction. Here's a transaction where I did exactly what we're talking about (for ~$3k) https://etherscan.io/tx/0x67f29d6577d555f8b61e49a312eec9882ea205138c0288d87badbff9348ef57c

[tulip folio]

dude that's amazing, wish I saw this before earlier because I just added to my SLP stake but never knew you could do it in one tx. I just swapped ETH to ILV and then swapped to SLP and then staked. Thank you.

[elder dawn]

Same - we live and learn. Especially when gas was ridiculous, Zapper.fi is a huge cost savings.

[lean prawn]

@elder dawn oh wow thanks so much for this info. - So instead of going to Sushi Swap to do the 50% ETH/ILV to get SLP, you’re saying I can just go to Zapper.Fi instead and do it 100% ETH to swap it into SLP? (Sorry for being a newb on this, if there’s a particular vid to shows how to do this)

[willow spindle]

Hey team where do I find the price of ILV/ETH LP? Need it to calculate my daily return

[tulip folio]

won't let me post a link, search the web for "ILV ETH sushi LP" and the first result should be app.zerion.io

currently $1599.48

[elder dawn]

i don't have a video handy on it, but there should be some documentation on zapper.fi - basically, here's the steps (there may be some additional transactions to approve token spend, always take precautions when doing web3 transactions) - go to zapper.fi, select ETH network - click on "Invest" on the left side and select "Pool". Then, find the ILV pool - search ILV, and then there should be one Sushi pool with liquidity of about $175 million right now. Click "Invest" and you select the token you want to use to provide value (like ETH or USDC). Then you will approve the transactions. At the end, you should have the SLP token to stake on Illuvium.io

[lean prawn]

THANK YOU so much for this. - I will go ahead and follow this to do it!! 👌👌

[uncut sonnet]

Great info!😃

[lean prawn]

Hey @elder dawn I was watching more Illuvium/Land youtube vids and stumbled accross Vetemor’s vid w/you on it! (“You need this for illuvium land sale”), your spreadsheet is 💯 helpful. - Just thought it was cool that we were talking in discord then an hour later I’m watching your video, lol. - Thanks again for your help!

[elder dawn]

My pleasure. Thanks for watching. If you're bored, there's a few other videos out there that are even more recent. 😛 One with TSG and Scoriox, and another with En Arroz y Habichuelas - my profile has a link to my articles on infoluvial - they are in the "Who is Deraji" article- second from the top now.

[lean prawn]

I will totally check them out to learn as much as possible before the land sale 💯👍 (especially the newer vids). Was there a particular one that talks about strategy for pros/cons of buying Land in “Halcyon Sea” vs “Crimson Wate” locations? (If not no worries, was just curious - Since my next step if figuring out which location fits my goals best)

[elder dawn]

Check out the #🎮〕illuvium-zero chat- more discussion on it there, but the key is more blueprints. Mostly speculation at this point as to what is more valuable. I'm honestly not sure what to expect regarding region differences in price/value.

[spark quartz]

Does anyone here know how ILV staking rewards should be taxed in Australia? Just looking at doing my tax.. I use Koinly btw

[gloomy gazelle]

Sorry. We don’t allow tax advice really.

Get an accountant.

[spark quartz]

thanks peli

[spark quartz]

Just a bit of feedback to the ILV team - maybe they could put together a tax guide for various countries - I know its obviously kinda off topic but is one of the main topic investors should be thinking about.. and all this is such a new area so would be great if the ILV team could help the community especially after we invest so much time and money into backing the team.. just a thought

[lean prawn]

Gotcha, yeah that makes sense (too early to tell/not enough info to guage the value of different regions). And noted on bluelrints being the constant ticket item across the board, yes will check out the #🎮〕illuvium-zero chat to inspect further 👍

[gloomy gazelle]

There’s probably some stuff online that you can find that might be helpful. Staking has been around for a bit now and there’s some advice out there to be found. Good luck. An accountant is worth getting.

[midnight crow]

@gloomy gazelle Question about claiming

[gloomy gazelle]

I’ll be back soon.

[midnight crow]

I just tried claiming and got an error. I paid gas fee, but claim did not go through?

[gloomy gazelle]

Join the private thread I started.

[swift heart]

I believe the ATO released a paper on tax related to staking. Try Google ATO and crypto staking. Either read direct from the ATO and understand for yourself or get tax advice from your accountant.

[slow eagle]

Any updates on when revdivs from the land sale will occur and in what fashion?

[ember ginkgo]

#💰〕token message

[timber sequoia]

i think its the job of investors to think about that before investing in anything

[uncut sonnet]

The ILV portion of my SLP seems to have increased. Maybe my math is wrong.

[elder dawn]

depends when you're assessing from - the lower the price ratio of ILV to ETH, the more ILV. Right now is about as low as it's been in 10 months, so yes, more ILV (more revdis, more voting power)

[bright heart]

Here's a chart of the relation between ILV and ETH.

[uncut sonnet]

Makes sense, just never expected it.

[bright heart]

Basically ILV lost more, than ETH lost for the same period, so according the constant product formula ILV inside each SLP is increased and ETH decreased.

[elder dawn]

This is also why we're sitting at about 84% of all circulating ILV being considered staked in the core pools.

[craggy field]

yep, back in august at SLP was at 2.5~ ILV per token. now at 2.642

[uncut sonnet]

Thank you! Can we see revdis right now?🤣

[elder dawn]

See #🎮〕illuvium-zero channel 😛 - it's coming!

[bright heart]

I haven't considered that. Interesting side effect.

[indigo lily]

Have we been given a snapshot date for staked tokens to be eligible for revdis from the land sale?

[ember ginkgo]

No

[elder dawn]

There's been a lot of discussion on the distribution approach, particularly among the election candidates, but no clear decision yet. Likely it will be a series of snapshots over time with multiple distributions, depending how the land sale goes of course.

[indigo lily]

great thanks for the info

[coral pike]

I Disagree with this .

Taxes are an end user problem that has nothing to do with the DAO the same as "but x law says in my country"
This is a DAO its not governed or regulated by any one specific geographical location

the DAO should no such thing . Taxes & other laws are up to the end user not the DAO

[coral pike]

could you please clarify what do you mean by a series of snapshots?? AFAIK revdis is not dependent on snapshots

[elder dawn]

well, they would need to know who has a staked token before they do any distribution, and how many tokens are in each pool, particularly as it shifts over time (such as with the ILV/ETH ratio impacting eligible ILV in the SLP). it may be instantaneously before they distribute the tokens. The team would need to weigh in with the specifics.

[coral pike]

say the land sale go above expectation in eth sales . that's when a distribution iip will have to be discussed ? so there will be x amount of lag time between end of sale and distribution ( whatever form that takes ) right?

[elder dawn]

given the land sale is less than two days, yes. undoubtedly this will be the first issue the new council will need to take up. lots of good discussion so far, but nothing concrete on the plan. without a plan, there will certainly be lag time following the sale and distribution.

[coral pike]

thanks🙂

[hidden current]

Do we know how much ilv is currently staked?

[final steppe]

Last time I calculated (sometime yesterday) it was around 1.75 million staked in the ILV and ETH/ILV core pools.

But overall, including the treasury, team, seed, and preseed tokens which are staked in a separate pool (and eligible for RevDis), it's around 7.4 million?

[hidden current]

So 7.4mil tokens staked. I thought there were 3 million for in game rewards? Or was that 1.5…

[hidden current]

I was hoping that less were staked, hopefully they arnt all 1 year locked

[elder dawn]

i have bad news for you - average weight in both pools is almost 2 at this point. pretty much everything is locked for a year. SLP around 1.9 avg weight, ILV is up over 1.95. 😦

[hidden current]

Aww balls lol. How will I get rich now!

[uncut sonnet]

Is that because of the auto 12 month staking when we claim rewards?

[elder dawn]

mostly. that's 1.4 million staked tokens.

[final steppe]

Ahh, 3 million is yield farming rewards through Staking.
Then 1 million for in-game yield

[uncut sonnet]

How many total tokens are not weighted.

[hidden current]

Oh right yeah i see. Well I best get a few of those in game yield ones then 🙂

[elder dawn]

#🥩〕staking message

[regal marten]

@elder dawn I was watching the video posted today on landsale with this infographic. It seems to imply land owners are getting 5% of revdis, but is that correct?

[elder dawn]

its 5% of sales that are related to fuel purchases (travel, curing, crafting)- not a full 5% of all revenue. Depends how revenue from things like land sale, illuvitars, etc go what percent it actually is.

[regal marten]

Ah yes, that makes much more sense.. thanks!

[gentle star]

Hi, sorry if this is a dumb question, but does staking in the ILV/ETH liquidity pool still receive RevDis? So let's say if I buy 1 ILV ($300) and match that with $300 worth of ETH and create an SLP that now has $600 worth in it. I stake that at 12 months in the liquidity pool. Does that receive RevDis for 1 ILV at a 2X weighting? And the APY would be ~200% on the whole $600 value? Thanks

[elder dawn]

It does receive revdis, but the amount of ILV is variable. Right now, its about 2.65 ILV per SLP token, but changes as the ILV/ETH price ratio varies. You are correct, APR is based on the total value of your SLP, including the ETH, though it also changes over time (as more tokens are staked, or 3% fortnightly decrease in rewards)

[gentle star]

If it's 2.65 ILV per SLP token, so if I just get 1 ILV, I can still create a fraction of an SLP right? Thanks for the response, that really helps. I've been trying to do my own research the last few weeks and planning to buy my first ILV today or tomorrow and likely DCA over the next few months.

[elder dawn]

yes - slp is just a token, you'll get a fraction of it. right now, its ~$1604 per SLP token.

[gentle star]

Thanks and last question, when we get within 1 year of the last epoch, will there be any benefit to staking for longer terms that would extend past the last epoch? I know you need to be staking to receive RevDis, but if there isn't any APY, there's no benefit to staking more than the minimum 1 month.

[elder dawn]

That's still quite a way off, as yield farming lasts through mid-2024. As that approaches, the DAO may need to revisit incentivizing providing liquidity. For the ILV pool, revdis is definitely the big value. Its something that is talked occasionally, but 2 years is a long time in crypto!

[gentle star]

Yeah for sure! It's if I had to guess, I would say there's maybe a slightly higher weighting for RevDis if you stake in the liquidity pool since there isn't really anything else that can be offered as incentive (since all the ILV will be distributed and it has a hard cap)

[gentle star]

6 gas fees later and I've successfully staked in the liquidity pool! Excited to have gotten in before the first RevDis! I love that the rewards update to regularly haha. It's nice watching ILV accumulate lol.

[delicate plaza]

Do we have to be staked prior to landsale to get rev dis from it? Or just need to be staked prior to the first distribution starting?

[elder dawn]

Details not yet set - you won't need to be staked before to be eligible based on what is known today.

[delicate plaza]

Thanks. I also saw you mention earlier in the week there's a way to turn eth into slp tokens with less gas than using sushi? is that right?

[tulip folio]

I literally look at it every day, it's a little bright spot of my routine.

[elder dawn]

yes - you can go through zapper.fi and go from one token all the way to being pooled in an LP in a single transaction

#🥩〕staking message

[crystal notch]

yep, was refreshing that page every 5 minutes 😄

[gentle star]

Haha I was refreshing like every 15 seconds lol. I got it at about 40 gwei average but still added up to more than I hoped. Oh well. APY will pay it out in about ten days. I'm excited to be part of the fam! LFG!

Are rewards and revdis taxed by the government? If so, is it when they're claimed to your wallet or at what point does it trigger a taxable event?

[crystal notch]

queue standard reply "you need to talk to your accountant"

[delicate plaza]

Thanks!

[cyan rampart]

We try not to get into tax stuff you much, because it varies a lot by region, and you're unlikely to get useful or accurate advice.

[brisk surge]

if I claim ilv rewards now, will it be ilv or silv2?

[elder dawn]

You choose each time you claim, either ilv or silv2.

[final steppe]

Note: If you claim ILV rewards, it automatically vests those rewards in the ILV core pool and they are locked for 12 months... but it earns the estimated APY of that pool during that time, effectively compounding your rewards.

If you claim sILV2, that should be in your wallet immediately. But know sILV2 cannot be staked and is primary use is to be spent in the Illuvium ecosystem (in-game, land sale, illuvitar sale, etc)

[drifting fractal]

Has there been any updates when RevDis is enabled on staking UI?

[left shore]

I guess when there will be revdis to distribute it will be active 🙂

[drifting fractal]

so tomorrow then? 😇

[left shore]

No, probably after land sale ends

[drifting fractal]

Cool, thanks. Are my "pending rewards" receiving revdis or should I claim them?

[left shore]

Only claimed rewards receive revdis, so yeah claim

[cinder escarp]

Staked too right

[drifting fractal]

And one more question: do you know if LP staking positions get revdis with ratio as "vesting" positions?

[gilded ether]

Rev divs don’t need to be locked for 12 months after claiming correct? Can be moved straight away?

[cinder escarp]

Revdis is unlocked last time i heard

[dark bear]

anyone have the staking reward calculator? I have a question I need answered

Oh nvm! Found it in pins

[quaint socket]

Anyone know roughly how much ETH we'll need to pay for gas when buying land?

[bright heart]

Depends on how many transaction you will make and at what time. Gas price changes prety wildly these days. You might be able to spend less than $10 per transacton or over $100. You'll have to monitor it. For example I did a transaction to approve the spending of sILV2, that was less than $5 today.

I also think gas usage will not be high, because minting will not take place on L1. So gas fees should not be high.

[quaint socket]

So will it be the same as regular staking or unstaking transactions. I thought maybe it would cost a lot more gas?

[bright heart]

I can speculate it will take even less. Because you see a miner has to do X amount of work, that is translated to gas. And not only gas price matter, but the amount of work. And since the minting process is not on L1. The contract should basically just take your money, wich is not that much of work. IMX(the L2) will do the heavy lifting, but that one is gasless.

[quaint socket]

I see yeah that makes sense. Thanks for your insight 👍

[worldly mica]

I have a question for anyone who can help. I'm trying to swap ETH/ILV for SLP but I cant find a quick link to do this. If I go to sushi swap and put in ETH and ILV in the pools tab and click view/ process the contract address is no the same as the official links tab here in discord. does anyone know if there is a way to make sure im swapping for the right SLP token to stake? Thanks!

[blazing viper]

hi, will i be able to win rev dis from the ilv-eth pool or just from ilv staked

[ember ginkgo]

Yes, on the ILV part

[devout bobcat]

i heard that with zapper.fi you can safe gas, @elder dawn spoke about it yesterday

[blazing viper]

Thankes

[atomic scroll]

Hey guys somebody can help here? I have 1 eth that is for purchase land i was wondering if i can stake that money and receive silv2 and pay for land in case i don't use it i would get benefit i am correct????

[bright heart]

You have some holes in your plan. Please do more research. We have a lot of content creators, that have covered this topic in depth over at youtube.

[torpid crater]

Does rev distribution apply to the staked ilv or to the proportion of claimed staking rewards? I.e. if I stake today will I qualify for rev dis or is it for long term stakes that have claimed before?

[cunning perch]

any claimed ILV or staked ILV or staked SLP (ILV portion of it) receive RevDis

[torpid crater]

Awesome sounds like I need to stake some more ilv!

[cunning perch]

it has to be staked minimum 1 month

[torpid crater]

Oh ☹️

All the more reason to stake for the next sale then

[cinder escarp]

So if i claim rewards now they wont be elegible for revdis?

[cunning perch]

you claim ILV now it will be staked for 1 year. It is eligible. As long as it has the 1-month weight, it receives RevDis

[cinder escarp]

Oh like that

Then ill claim some tonight

[wet timber]

How many staked tokens is rev dis from land dale being distributed between

[tiny void]

The wallet were I have my SLP staked in compromised and the thief got in two days and did this transaction. 0x8bf101aa6417c8c2797ee5b1116dc1c4fed242f2c238b871658bb85218ac9aa5. Can anyone help me out to see what does transaction does? I don’t seem to be missing any rewards as it’s all locked

[amber geyser]

He claimed your ILV rewards. But he couldnt move them cause they are frozen for 1 Year.

[tiny void]

Lol, well that’s not terrible news I guess.

[amber geyser]

Be careful. He could withdraw them as soon as they get unlocked using a bot.

[tiny void]

Yea fingers crossed that doesn’t happen, I’m going to try and beat him to it but we’ll see

Would I be able to connect a ledger hardwallet? To my Metamask wallet at this point?

[amber geyser]

Yes you can connect a ledger, but only with a new ledger.There for you restore your account on a new ledger using the 12 word key from your MetaMask account. As soon as your account is restored on the Ledger with all your funds. You remove MetaMask and reinstall it again. After that you can connect to the Ledger and have a Ledger protected MetaMask with the same account.

But I don't think it is useful in your case cause the hacker has the private key can can do whatever he wants

[tiny void]

So the ledger wouldn’t stop him if he has the private keys to my Metamask?

[amber geyser]

You know how he got access to your wallet? Go ahead and remove all connected sites and check if one of them is a scam

[tiny void]

I already did that, I think he’s going to have my 12 word phrase

[amber geyser]

I would try the ledger and worst case your funds will be botted in one year. In this case you still got the ledger and you just create a new account and continue a much saver life on the blockchain.

[tiny void]

Yea you’re right thanks

[versed coral]

The seed phrase which is auto generated in meta mask doesn’t do anything for an attacker which tries to get onto the main wallet which is a separate account added via ledger right? Since the other, „real“ seed phrase is only stored on the hardware wallet

[static crown]

just lost about 10m staked..

15m in the past 15 mins or so... anybody knows what's going on?

[eager rover]

price dropped?

[static crown]

sure did...

[safe schooner]

Hi all ! I have stacked in the SLP and ILV pools, when I claim my ILV it goes in 2 separated vesting, one from the SLP pool and the other one from the ILV pool, do you have the same ?

[spiral flame]

Yes, you can choose on what pool to claim from

[safe schooner]

And can I claim in both in the same time ?

To only see one line of vesting

[tulip folio]

You can claim both in one transaction to pay one gas fee, but they stay two lines in vesting.

[slow verge]

How long do you need to be staked in order to receive revenue distributions from land sale?

[tulip folio]

that has not been proposed or finalized. search youtube for the Epoch 6 nomination "debate" it's basically a big discussion about landsale revdis

[eager rover]

generally the minimum amount which is 1 month

[uncut sonnet]

Will ILV rewards I claim and stake today eligible to receive revdis from the land sale? Or was there a prior time deadline I missed?

[ember ginkgo]

Unknown so probably eligible

[uncut sonnet]

👍

[slow verge]

I appreciate it y’all have a good one

[carmine oyster]

I'm looking for a graphic table that show the split of the 10M ILV token for the revdis. I already saw in this discord but can't find it back. someone got it ?

[pliant spade]

hi

[tulip folio]

I'm not sure the exact graphic you're looking for, but in this channel's pins there's Lelahel's staking calculator spreadsheet where I grabbed the above

[red hill]

DOH. I use the staking interface, try to claim rewards and get a failed transaction because out of gas!?? why??

[spice schooner]

Do you have enough ETH to cover GAS?

[gloomy gazelle]

Sometimes the estimated limit is off. If you bump the limit up by 50k it’ll very likely work.

That’s under advanced transaction setup stuff when using metamask.

[steady trellis]

Would need some dune data refresh but yeah 😄

[hot lynx]

Every get there votes in .. 👍🏻 happy #🥩〕staking

[cursive stirrup]

all pool rewards are in sILV2?

[cunning perch]

sILV2 or ILV

[restive mist]

Is already clear how the rev dis of the landsale will work? I habe heard that the proceeds will be used to develop the game further. Is that correct or will the eth used to purchase land be distributed back to the stakers?

[jolly lark]

Heya. Are vesting ILV tokens part of the revDis?

[ember ginkgo]

Yes

[jolly lark]

Cool, thanks

[burnt copper]

100% of the ETH generated will be used to purchase ILV and then the ILV distributed back to stakers. Same for all revenue generated with illuvium

[restive mist]

Thank you 🙏

[green shell]

I just tried to claim staking rewards but the transaction failed for some reason, etherscan shows this error: Warning! Error encountered during contract execution [Out of gas]

What can I do to avoid this in the future? I had enough eth in my wallet to cover transaction fees

[coral jackal]

That's a bummer. I just got an out of gas as well. That wasn't an issue with the old contract. Used to be able to leave it for days.

[shut vector]

Once my staking period is finished and my original ILV tokens are unlocked, how do I restake them? Do I need to first withdraw and then restake? Is that two gas transactions?

[cunning perch]

you don't need to restake. Just don't touch them. They will continue receiving rewards, (that is if you had initially upgraded them)

[shut vector]

Thank you. On the dashboard they are sat there saying unlocks in 0 days. Does that mean I’ll be eligible for revdis?

[cunning perch]

as long as you have upgraded and your lock was more than 1 month, yeah. you'll get RevDis and Yield even if they are unlocked but staked

[shut vector]

I’m almost certain that I upgraded. I staked for 3 months at the end of March. Is there a way that I can check? Sorry for basic/silly questions. Really appreciate your help

Maybe it was 2 months actually

[cunning perch]

Everything is shown in the Vesting tab. If you are receiving Yield now (have pending rewards) then you are fine.

[shut vector]

Brilliant. Thank you

[coral jackal]

I can't believe I just did this. I collected my rewards as ILV instead of sILV2. I already know the answer to this, but is there any way to undo that and get sILV2?

[cunning perch]

Nope. there is no way to reverse it, sorry.

[coral jackal]

Yeah. I figured. Thanks. 2 months of rewards. Back into the staking pile.... On the bright side, I'm now re-up for another 12 months with that stack.

[cunning perch]

you're gonna get Yield and RevDis for it, so maybe it wasn't the plan, but it's not a loss either

[indigo nimbus]

Hi there clueless person here. Just to double check if I claim silv2 from the staking pool then it will be available in my metamask wallet straight away to use for land purchasing?

[south fable]

yup

[indigo nimbus]

amazing thank you koda

[tulip folio]

Thanks for informing me about zapper.fi. I just was on there for the first time and bridged some polygon WETH I got from ethermine to mainnet for something like 9 cents and it took 8 minutes. I hadn't bothered collecting my WETH because I thought it was going to cost me gas. (Also congrats on council vote)

[slow matrix]

Do I need to claim my ilv rewards BEFORE the land sale starts to get the rev dis on those new ilv or is there some other cut off time or snapshot time when the revdis will get devided up? Thanks

[bright heart]

I don't think that is necessary. No snapshot was taken or anything. That being said it's probably a good ida to restake right after.

[slow matrix]

But there must be some snapshot at some point right?

[bright heart]

It's not required. They can just execute on the current stakers without doing a snapshot.

[slow matrix]

But I don’t get revenue on my unclaimed rewards correct? So there must be some time that I must claim those rewards by in order to get revenue right?

[bright heart]

They cannot distribute what they don't yet have. So right after land sale should be a good time.

[drifting fractal]

Does anyone know if stakers get revdis (royalties) from secondary sale of land NFT?

[bright heart]

Yes. 4% of every trade is 100% distributed to stakers. And 1% goes to imx as far as I remember.

[slow matrix]

So it sounds like the answer is that the revenue distributions Snapshotis currently unknown

[versed coral]

As far as I know, all tokens which are staked with a minimum of 1 month are eligible for revDis. So if you also claim ILV, they’re vested for 12 months meaning they’re eligible right away

[bright heart]

It will not have a snapshot. Transaction will be made at an unknown time. This is explained in the white paper.

[livid light]

So with a hacked MetaMask wallet there is no way to swap your locked tokens to another wallet? So the hacker has access to my rewards, RevDis, staked tokens when they become available, everything for the next year with no option to do anything? Trying to figure this out

[gloomy gazelle]

Tokens in the staking contract will only able to be linked with a different wallet if they were initially deposited in v2 staking (like March 2022). And only if that wallet only made deposits in v2. And not yet.

[jade flower]

Is anyone able to expand on how rev divs are paid? With the land sale to take advantage of the payout is it prorated by time in the pool or is it equal share regardless of when you started staking?

[crimson cipher]

it is

[peak patio]

If I stake ILV after the land sale.
Will I still participate in the revdis ?
Or is the revdis only for the people stakes while the land sale was active ?
Or maybe you only get part of the revdiv if you were not staked during the land sale ?

The idea is not to stake during the land sale in case I want to buy lands and then what is left I stake for the revdiv.
Or is it better to be staked during the land sale ?

[fading bay]

Guys Revdis are applied after landsale ends or is instant during land sale ?

[tulip folio]

It is going into a pool to be held, and the DAO council will vote on how it is to be distributed. If it was done all at once it would skyrocket the price of ILV and buy a lot of expensive tokens, so most likely it will be distributed over time.

[fading bay]

First of all thank you for your answer: atm around 2 million has been gathered from landsale ( 6 ours after landsale started , rougly ) Wich is the % that goes to Redvis ? The council can choose the period through the redvis becomes distribuited or also the amount ? thank you

[tulip folio]

100% of land sales from minting is revenue to be distributed.

[gilded dove]

Buy land or stake??

[misty vapor]

Thanks for this, I think this is why I have old sILV in my wallet, I thought i had done something wrong, so sounds like I should just ignore it?

[trail topaz]

its better to stake during the land sale in case you want to buy lands

[trail topaz]

its better you do both

[visual birch]

the amount of SLP I staked the ILV/ETH pool is already unlocked and it shows the v1 symbol on the Vesting tab. Do I need to withdraw and stake again on the v2 smart contract to continue earning ILV?