🥩〕staking

[misty vapor]

Will the land sale revenue go into the revenue distributions on the dashboard instead of the normal staking rewards?

[peak patio]

If you stake then the funda are locked so you can not buy lands.
So if you get revdis even if you stake after the land sale then it is better to stake after, just in case you want to buy land.

If you do not buy then stake afterwards.
That is IF the revdis is only shared after the land sale, which I suspect it is for the revdis claim portion of the staking is not active yet.

[steady cape]

where do i find silv2 token addres so i swap to it >?

[timber cradle]

#🔗〕helpful-links

[steady cape]

Ty

[hardy basalt]

Im confused now, i staked ILV and the rewards haven't changed at all for a month or so, am I to understand you must withdraw your ILV after the staking period and restake it again? I would hope this is not the case.

[atomic lagoon]

do you mean total accumulated rewards? did you stake before staking v2 and forget to upgrade to v2?

[hardy basalt]

no i staked on April 8th

[atomic lagoon]

is the website illuvium.io?

[hardy basalt]

lol yes, it's the right website

[atomic lagoon]

then I am not sure. you don't need to claim for your reward to increase though. may be one of the mod can look into it for you.
sorry I am not much of a help.

[gloomy gazelle]

Join the private thread. Don’t trust DMs.

[calm walrus]

hi guys i have a question, how do i revert back my slp to eth? coz i mistakenly thought that slp is sliv2. coz i want tio buys land and im lacking sliv2

can anyone help me?

im talking about eth/ilv

[regal marten]

is it staked as well?

[gloomy gazelle]

This may be helpful. #🥩〕staking message

Basically you do the opposite. You remove liquidity from sushiswap

[nova parcel]

which ressource is the most important one?

[final steppe]

The elements, I'm not entirely sure about how each one will function. But the elements are the main resource you need to build structures on your land and perform the in-game activities.

Then the three different fuels you produce have different functions in the main game. Up to you to decide which is most important to you 🙂

Travel fees = Crypton
Crafting fees = Solon
Curing Shards = Hyperion

[nova parcel]

exactly. i just have no idea what each fuel type can do

thank you 😉

[cunning perch]

You can read about ILVZ in pinned messages in #🎮〕illuvium-zero

[harsh raven]

Hey guys, by staking the ILV we get more ILV and we can accumulate it over time to buy a land correct?

[cunning perch]

!staking

[woven ibex]

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

• 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.

[tulip folio]

ILV is for governance/revenue distribution, not buying lands. You can claim rewards as more ILV (to compound revenue distribution) or as sILV2 as an in-game gift card. sILV2 can be used in the game for fuel or in official land sales.

If you plan on staking to buy land, you would need to claim sILV2 and wait until the next land sale (no announced date, could be several months to a year+ out).

[fading bay]

guys the LAND SALE contract number i find in the useful links has any utility ?

[tulip folio]

sure you can see how much sILV2 and ETH has been spent

[gilded dove]

Yeah, IT would be good too if I had alot of money 😂

[brisk surge]

Guys I am having trouble staking on the ILV/eth pool through my Trezor. When I click on stake it tells me “approve ILV/eth spend view on explorer” but I don’t find where to approve the transaction. Do you know how to help me?

[gloomy gazelle]

Have you gotten this figured out? It reads almost like you already approved that transaction. And just had to wait for it to process. Like you could view the transaction on etherscan (explorer)

[brisk surge]

No it’s more like I have to approve the transaction somewhere for it to go through

Do you know if Trezor support staking on illuvium? I mean if it’s possible to stake with Trezor or not

[gloomy gazelle]

Ah… it can. You’ll need to use metamask’s trezor integration

[quasi oyster]

I cant Stake my SLP from Trezor I did all the transaction from Meta Mask , tranafered it on Trezor and now im trying to stake it it says I need to approve ILV/ETH

[versed coral]

My claiming rewards transactions just failed and I paid gas for nothing. Is there something I can do?

[cunning perch]

if TXs fail, there is nothing to be done. Gas is spent. It is mostly not ILV related. It belongs to the block chain

[versed coral]

It hasnt happened to me yet so far in claiming. Not sure if I should just try again now

[marsh tartan]

hi all how does a friend upgrade to silv2

[cunning perch]

if the error was "out of gas" you should raise the gas limit

[cunning perch]

upgrade to sILV2? What do you mean?

[versed coral]

Yes in etherscan it is shown as Out of Gas Error

[marsh tartan]

i mean they have silv from before

[cunning perch]

raise the gas limit. if it's 100k for example, set it at 120k or if you wanna play safe, 150k

[cunning perch]

the website. it is under Exchange tab

try #🔗〕helpful-links

[marsh tartan]

what website lol just the normal staking one?

[cunning perch]

illuvium.io....not the staking one. the main one

[marsh tartan]

gotcha

[versed coral]

Is it by setting a maximum gas price manually?

[cunning perch]

before confirming the TXN in wallet you can edit it manually

[versed coral]

here i could set it to 50 for example, right now gas it 27 gwei or so

[cunning perch]

just change the gas limit to 400k or safer, 450k or 500k

you'll pay more gas money though

[versed coral]

Ah you mean the gas limit on the top there. I see

[cunning perch]

yes

it should fix the "out of gas" issue

[near verge]

Do I have to pay a gas fee to claim my staked rewards (ILV)?

[fast blaze]

Yes.

[stark minnow]

Are there any drawbacks to staking your land? In other words, is there any particular reason you wouldn't want to stake the land you own?

[fast blaze]

Is land staking even possible? Never heard of it.

[cunning perch]

There is not any land staking in ILV yet

[fading nexus]

How many tokens right now are eligible for rev-dis?

[cyan rampart]

Somewhere on the order of 7M

[low quest]

is there an average daily roi on staking, say 1 ILV?

[elder dawn]

There's a current rate, but it varies over time as more people join/leave and the 3% biweekly decay

[elder dawn]

Right now, at 2x weight, return is a little under 0.0005 ilv per day.

[near pebble]

Is it still worth it to stake?

[gray light]

hello, have been trying to upgrzde pool (yeah, a bit late to the party), but it doesn't work...

[cyan rampart]

There's not really an objective answer to that. It's up to you to decide if it's worth it. No one can guarantee you staking will be profitable. Personally, I'd wait until token unlocks were underway to buy ILV and stake it.

[hoary mountain]

Is it possible to extend my locking time of my staked ILV? or do i have to remove them, and pay more txs?

[jolly lark]

When do revdis start? Anyone done any calculations on how things could look like in the beginning now? In my very simple mind, with a simple example: if 7M tokens and 7M in revdis each day, we earn a dollar per token per day? (Not counting inflation)

[brisk surge]

question: what's the advantage of staking in ilv pool than ilv/eth pool?
sure the APY % is more than 10x higher than ILV but I could be missing something here

[hoary mountain]

LP are always coming with the risk of IL - thats why there is an higher APY

[brisk surge]

other than IL, is there anything else that would make one consider plain IL pool than ILV/ETH pools?

[hoary mountain]

I staked ILV only early and the APY difference wasnt as big back than. But today its more lucrative to stake in the LP pool, if you got the ETH to spare - and as long as ETH and ILV price correlate of course (otherwise the loss on IL might be bigger than the gains)

[final steppe]

Once your staked ILV unlocks, it keeps the same token weight. To get a higher token weight, you would need to withdraw, and then re-stake with the higher lock period to get the higher token weight.

[hoary mountain]

ok thanks. would be nice if a feature could be added to extend the locking period without claiming - would safe 2 TX

[brisk surge]

so I guess if you're in the long term, ilv/eth pool whacks plain ilv pool; .2 (e.g. 20% APY) ilv vs. 2 (200% APY) is a huge gap, since I'm particularly towards token accumulation
unless i'm mistaken, it means that if you have 10 ilvs, then you get 20 more ilvs eoy from ilv/eth pools, than you can then re-stake, while just 2 ilvs on plain ilv pool that you can re-stake
since il mostly is a problem if you're trying to do it short term

[hoary mountain]

vesting on rewards is 1 year - that means u cant restake right away - or you get silv2 immediatley

[versed coral]

Vesting can also be considered to be "restaking" in the ILV pool as they also compound in that pool (20%-ish)

[gilded dove]

should i stake normal or in the eth/ilv pool, what happens if ilv price jumps because of the "vault"

will the eth/ilv be a bad move then??

[ornate cypress]

The issue is it won't be 200% all year long. It goes down. I think it's still better even if it goes down

[steep laurel]

i trying convert usdc into ilv...for 10 ilv 150 dollars fee on uniswap...come on...

and in metamask 280 dollars for total tx

can u advice me a better way for buying ilv?

[reef python]

wait for lower gas 30-60 range

[reef python]

vesting ilv are also staking

[steep laurel]

can u advice me good parameters on metamask for buying ilv?

[reef python]

not really. just use uniswap. but wait for better gas, current fees are insane

[steep laurel]

i want to profit from this: if u stake ilv befor land sale ending, u should be eligible for revdis of land sale...

[reef python]

as I said, wait for better gas imho. the land sale is still on

[steep laurel]

i get it what u are trying to say...now i have elaborated it ahah...thanks mate

this is me 🐢

[reef python]

everyone was at some point at square one, and felt like a turtle 🙂 do not worry, it just needs time and lot of reading 🙂

and if you want to buy land, in the current land sale, best is to convert eth to silv2 (you add contract for that in uniswap), and buy with silv2 (as silv2 is 1:1 to ilv for land sale) - so basically you get 30-40% lower price that buying land with ETH directly

and to see current average gas fees on ETH, add a chrome or firefox extension , so you can see it straight away. for chrome for example - ETH gas alerts extenstion

[steep laurel]

long running...staking ilv is better than ilv-eth lp right?

[reef python]

hard to say. ilv only is ~20%, ilv/eth LP is 200%. but you are exposed to 2 assets (ilv and eth).

now you have +-55 gas

[steep laurel]

done now i have 10ilv and i'll stake them...when i cash my rewards i have to wait 12 months for moving them...right?

[reef python]

you can either take out rewards in ilv - and yes then you have to wait 12 months to 'get them free' - or you can take silv2 and use it in game or sell (or use to buy land in next land sale round?)

and, congratulations to your ilv.

[steep laurel]

can i cash out in silv2 and sell it without waiting 12 months? great... ah... thank u mate for the congrats!

[reef python]

yes, you can. but on sell it's not the same 1:1 to ilv. in $US

[valid umbra]

If I have ILV that was staked and has unlocked at a particular weight, will it continue to generate stacking rewards? Or do I need to withdraw and re-stake?

Its v1 and weight is 1.46. I'd rather not withdraw and re-stake in v2 at a lower APR if i'm still earning rewards

[coral pike]

if you leave it alone it will continue

[valid umbra]

Cool, even v1?

[coral pike]

you upgraded right?

FYI : it will still say VI when your done if it looks like this after the upgrade process your fine #💰〕token message

[blazing viper]

45 mil $ at end of day 2 . rev dis likes this

[sturdy wren]

rev dis likes ETH

[blazing viper]

we all like both 😄

[azure nacelle]

You mean even if you stake tomorrow before land finishes you are eligible for all rev divs?

[mellow hull]

Only 6.6 mil in ETH so temper your expectations

[midnight crow]

Yeah, about $1/ILV staked.

[fresh grail]

The bigger picture is that this land sale has burnt 217,000 SILV2 so far. 2.17% of the total ILV supply gone.

https://tenor.com/view/burn-elmo-pyro-burn-it-down-ashes-gif-14329732

[brisk surge]

https://tenor.com/view/elmo-fire-burning-gif-8869638

[kindred forge]

wont there be coming more SILV2 rewards to all the stakers though?

[kindred forge]

by the way, where do you see or get this information?

[fresh grail]

Yep, the less ILV in existence the lower amount of ILV that can be staked and more rewards for stakers.

[kindred forge]

sorry I typed wrong, first. I meant wont the SILV2 also increase? I mean we do get rewards from time to time

[fresh grail]

Etherscan or Dune dot com

[fresh grail]

https://etherscan.io/address/0x7a47f7707c4b2f2b1def04a47cd8681d48eadeb8

[fresh grail]

SILV2 can only be created from Staking rewards, price will depend on how much is minted and the demand for it. Revdis will become more frequent when the main game comes out.

[kindred forge]

so 217k Silv2 is the total of the Silv2 claimed? Or is there even more to be claimed?

This tokenimics is a little confusing to me. Like burning the SIlv2 is good I understand that. But will that somehow help or effect the ILV price or is it only whenever new eth comes into the game and get purchased into fuel or land for example

[fresh grail]

https://etherscan.io/token/0x7e77dcb127f99ece88230a64db8d595f31f1b068

218k/303k is gone forever. More SILV will mean more buying pressure for ILV. Good news for us ILV token holders and especially stakers. When the main game comes out ETH will be used to purchase ILV from the Sushi pool and provide even more buying pressure on ILV.

[zealous nymph]

I tried to claim Ilv paid the gas fees and everything but then got an error any fixes?

[fresh grail]

What error was it?

[kindred forge]

alright nice man, thanks alot. Appreciste it

[fresh grail]

anytime my guy

[zealous nymph]

Does not specify in the recent transactions tab but it says "Cannot read properties of undefined (reading 'map')" in my metamask

[fresh grail]

Post up in #❓❗〕community-help . I did a google search for this to assist you, but it's pass my area of expertise. Sorry I can't help you out

[zealous nymph]

Np thx anyways

[digital jungle]

have the same while trying to claim ILV... got the following error : "Warning! Error encountered during contract execution [Out of gas] ". I have more than enough ETH to pay gas fees. And i payed 0.0065ETH for gas fees for this failed transaction. anyone knows what's wrong ?

[flint tusk]

anyone got a 30 second explain of apr vs apy? Is it time that the interest accrews? Does 203% apy compound yearly?

[hard otter]

Is there a way to add STAKED ILV to metamask, so it shows up under your assets?

[fresh grail]

apy includes compound through the year.

[gilded dove]

if i stake after the land sale am i not eligible for revdis of land sale??

[gilded dove]

help plz

[wind peak]

What the total supply and the circulation supply right now of ILV?

[fading bay]

Guys, landsale just ended it gathered roughly 4K Eth: are these the only share for Revdis right ( silv2 spent doesn't count if i understand well ) I didn't understand if now the release of the revdis is automatic or the dao has to decide how and when this will happen. Does anybody has more info or links for me to study? thanks in advance

[past glacier]

Sorry. Kind of new on staking. That eth-ilv 200% seems nice. But if ILV goes high I lose cause of impermanent loss right? Either option, my reward is in silv2?

[trim terrace]

!contract

[woven ibex]

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

[elder dawn]

The apr is the current instanteous rewards rate. It doesn't include the impact of biweekly 3% decay. The apy is the same rate, but including the impact of compounding if you claim monthly. I'm not a fan of the apy metric as it isn't really representative of what you can expect, and monthly claiming is likely a poor strategy for most.

[elder dawn]

The council will likely need to discuss. Revdis strategy was talked a lot during the election, and I wrote a draft iip, but nothing confirmed. It will not be immediate and instantaneous. Based on how much was generated, my personal recommendation is to distribute over a few weeks

[fading bay]

But the revenue become distribuited among old stakers or new stakers or how ?

[frail sundial]

All stakers based on weight

[formal tartan]

Hey guys, does someone have a bit of time to tell me what the negative side of staking ilv/eth could be please?

[frail sundial]

Negative side is impermanent loss basically if one of the sides of the pair runs high or low compared to the other you suffer a “loss” when you go to withdraw liquidity

[fading bay]

this means that 1 ilv staked at 300% count like 3 ilv staked at 100%?

[frail sundial]

Unless weight has changed it only goes to 2x for max lock time so anyone staked for a year will receive at 2x value while flexible stakers will see between 1.01 and 1.99

[frail sundial]

But yes I believe the gist is correct so some staking 6 and 1.5 weight will be shown to hold 9 tokens and 6 at 2 will show 12 tokens

[reef python]

revards you can chose ilv or silv2. ilv ist then vesting for 12months, silv2 you can use right away

[last agate]

Is 30th june is the unlock for token

[elder dawn]

Yes, team, seed, and initial claimed yield farming rewards start unlocking June 30. It's about 10-14 k per day for the next several months, gradually showing down as yf rewards claiming slowed.

[hidden gale]

Didn't the founders and some of the main investors lock theirs up for an additional 6 months or longer?

[elder dawn]

Founders locked for an extra 3 years, but it's a linear unlock starting June 30 (~1300 per day), and seed and team paused their unlock start until june30, originally to start March 31. All of those tokens are revdis eligible though.

[hidden gale]

Ah, roger that. Do we know if all the seed & founder tokens are eligble for revdis at 2X? I suspect a lot of the seed investors will be super long term, but they also got the tokens for $1, so might want to lock in some insane gains. Could be tricky to calculate this

[elder dawn]

Revdis looks at individual pools first, then assigns value to weight. Check out my post from May 5 on Infoluvial for how that works (link to my articles in my profile). Given how pool weighing is at this point, seed/team will earn just slightly less than tokens staked at 2x weight.

[stark minnow]

Still kinda new to all this - can someone help me understand how I would acquire SLP to begin staking in ILV-ETH? I have nothing to stake at the moment and am unsure how I would acquire SLP at this point in time to stake it. Thanks!

[gentle star]

How many tokens are eligible for revdis and what's the best way to find this info so I can look it up myself in the future? Just trying to calculate revdis based on the ETH revenue from the land sale. Thanks

[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.

[elder dawn]

Revdis eligible tokens are a bit complex, and it will shift a bit as the unlock happens at the end of the month. I'll try to put together a better way to track it all, but right now, it's yield farm staked tokens, seed, team, and treasury tokens, so around 7.2-7.3 million eligible right now. See my article on infoluvial from May 5 for more details (link in my profile)

[elder dawn]

There is a way to save yourself some money using zapper.fi if you're comfortable with that, and can go directly from one token to the pooled slp in a single transaction, then you have to stake with illuvium.io.

#🥩〕staking message

[stark minnow]

Thank you for all the info! Much appreciated! 😁 👍

[gentle star]

Thanks! I'll check it out. So rev dis will be roughly $1/ILV? So if I have 2 ILV that I paired to create 0.75 SLP staked for 12 months, would I get roughly $1/token X 2ILV X 2 weight = $4?

[twin verge]

So, will there be an official link to stake our land or is it earning in our wallets. And where do I verify

[elder dawn]

Ilv in the slp changes over time. It's based on the current ratio, which right now is around 2.6 ilv per slp token. If you have 0.75 slp, today you have about 2 ilv. Weighting is a little weird now, since nearly all tokens are at 2x weight. Expect around $2.

[elder dawn]

Check out the #🎮〕illuvium-zero channel for how to earn with land. There is no land staking, but you will need to play your land, generate fuel, and sell it to the balancer pool. It does require the illuvium main game for fuel demand, so there is no earning yet.

[trim terrace]

I just did that, was quick and easy, and the gas fee was less than 5% of the amount that I staked

how are you all feeling about the value of ILV lately? obviously it has been crushed along with the rest of the market. I see a near term catalyst with the land game, but the main game seems to be far off

[tulip folio]

value of the token is irrelevant to me, outside of the cost of buying more. my goal isn't to sell ILV, it's to make monthly revdis. And revdis is based on revenue, so it's the same whether tokens are $200 or $10,000

if anything lower price = good because if you get $200 in revdis and ILV is $200 then you get 1 ILV per month. If token is higher price, you get less, leading to slower compounding

[knotty shale]

Anyway to convert my sILV back to staked ILV?

[vestal spruce]

dont think so

[dusty glacier]

Swap to eth then buy ilv and stake. Only way I can see it working. But silv eth price you’ll lose out

[proven timber]

how long will the staking rewards for the liquidity pool last ?

[coral pike]

yield ends in July 2024

[gentle star]

Obviously nfa, but what are people guessing could be potential future annual revenue amounts for the game?

[spice shell]

Which pool is better for low spenders and what is minimum price to earn some rewards ?

[elder dawn]

Fees are lower for the ilv pool, which is also lower risk and reward than the slp. Both can vary in level of rewards over time as people join/exit.
There is no minimum, just the implications of transaction fees relative to rewards.

[gleaming brook]

On hindsight I would have gone all into the SLP pool although it come with a higher risk as mentioned

[ember ginkgo]

Best play was probably sell at 1900 and buy back in at 275 and then stake 😄

[twin verge]

Yea. Im@going to have to read. I bought a Tier 1 and I own tokens. Play to earn

[gleaming brook]

I can’t. All staked at maximum weight 😒😅

[ember ginkgo]

same 🙂

[gleaming brook]

So maybe time to accumulate more

[past glacier]

I want to stake 1.500 dollars

ilv would be about 17%, but thats change right? everytime token goes up/down apr tax is affected, and the other stake has a ridiculous rate of 200%, my doubt is rewards, ILV I received based on the ammount I staked, in this case about 5.5ILV, or based on the actual value of ILV, lets assume I receive 0.2 ILV/month at $200 and would receive 0.1 at $400?

[carmine drum]

Base on amount you stake.

[dark depot]

Do you know what date is the final ILV will be distributed for staking rewards?

[coral pike]

July 2024

[dark depot]

Thanks.. I wonder if I should change my ILV staking into SLP instead when my staking rewards becomes unlocked. I understand of Impermanent loss Not sure what you think.

I guess it is hard to say because of the percentage will change based on how many people stake and the crypto market. LOL stupid question from me

[coral pike]

@elder dawn has info on that i am considering the same thing in 2023 if RevDis out performs slp yield rewards

[dark depot]

I feel like we can get more ILV from SLP faster and ILV I believe will be worth more in the long run.

[gleaming brook]

That is my experience so far

[dark depot]

I don't plan on changing my ILV to SILV2. I rather just buy SILV2, what you guys think?

[loud anchor]

When is the revdis ?

[cunning perch]

Whenever the IIP is written and passed and T5s have been sold

[loud anchor]

Thanks a❤️

[brisk surge]

how do you compare the revdis to someone who just bought at 270 and staked 14 ilvs a month ago than a person who bought 2 ilvs at 1.9k a year ago? who gets more in this case?

[bright heart]

The person with more tokens multiplied by their weight.

[brisk surge]

so it’s really the number of tokens

[bright heart]

Yes. If you don't count how much extra tokens, the one who staked longer got from staking rewards. The claimed rewards as ILV also count for revdis with weight of 2.

[brisk surge]

what happens if someone staked today with 2x weight then tomorrow comes revdis? i’m basically trying to outsmart the staking

[south fable]

So we are getting around 1 USD per ILV token from the land sale, right?

[bright heart]

You'll get revdis as if you had 2x tokens staked.

[bright heart]

We have no idea how much the T5 will sale for. You might get a 2-5 times more.

[brisk surge]

dang, so it didn’t care how long i staked with that weight? then after i get the revdis, i can just unstake then repeat

[south fable]

I don't really expect the T5 to go for more than 100 eth. That would mean barely 3% more.

[bright heart]

Minimum staking time is 1 week and you don't get 2x weight on that. If you wan the 2x weight you have to lock for a year.

[bright heart]

You can't be serious. T5s should go for multiple millions each. I'm also confident in speculating that T5s will bring more revdis, than all other plots combined.

[south fable]

Wait, you expect more than 4000 eth per T5?

[bright heart]

Not for each, total. We have 2 T5s for sale, so around 2k ETH per plot.

[south fable]

Well, i guess we will find out. 🙂 I admit 100 eth might be conservative but i do not think it will be more than 1000 eth.

We will know soon enough

[bright heart]

I'm certains big players will show up. From the likes of Crypto.com, Binance, YGG and whoever else you can think of.

[south fable]

I hope you are right

[radiant light]

Can i buy ILV with metamask to then stake?

[bright heart]

Yes. You can use Sushiswap to do than. All our staked liquidity is there. Other than that you can use any other DEX or metamask itself(This one might incur some extra fees).

[radiant light]

So you suggest swap Eth from my metamask to ILV on sushi?

[bright heart]

Yes. Just make sure you don't land to any scam sites other than the legit sushiswap. There you'll be able to swap ETH for ILV directly.
Use link from #🔗〕helpful-links

[radiant light]

OK! Thank you for your help 🙂

[floral mountain]

Trying to figure out which pool is better to stake in? It seems like the ILV pool has more TVL but lower APY. What’s the reason for this?

[thick dirge]

Hello. I staked in the Sushi ETH/ILV liquidity pool. Now how do I access the SLP tokens?

[potent walrus]

Impermanent Loss maybe? Or just easier...

[next ruin]

All claimed ILV staking rewards go to that pool as well.

[keen crest]

Lol nailed it.

[echo ember]

Add the contract to MetaMask

ETH/ILV SLP Token
0x6a091a3406e0073c3cd6340122143009adac0eda.

Check it in #🔗〕helpful-links

[knotty trellis]

So I'm relatively new to staking, decided to go in on the SLP pool with what I have.

Something that has been confusing me though, I don't understand the compounding rewards. Can someone dumb that down for me?

[teal jay]

what is the worth of that token ?

[fleet prawn]

Hello all. I think my MetaMask wallet has been compromised. Does anyone know if it is possible to change wallets with locked tokens?

[teal jay]

how so ? i thought the same thing, some times your currencies don't appear but if you go to uniswap or something they'll appear saying they're in your balance.

[potent walrus]

Did you give someone your seed phrase? Or connect to a dodgy site?

[teal jay]

Thats my case at least

[fleet prawn]

I had my rewards claimed about 2 hours ago via a transaction I didn’t do.

[potent walrus]

Have you ever sent your seed phrase to anyone ever?

[fleet prawn]

Also my computer was hacked a few days ago and they where able to access my information. Haven’t given them out and didn’t have them saved on my computer but I am worried they might have seen them when I accessed my wallet

[potent walrus]

How you have been compromised is key to know what actions to take next, if any. Did you enter them while you think you were hacked?

[fleet prawn]

I looked at them yesterday to import my account to my phone.

I downloaded anti virus software before doing so but now I’m thinking it didn’t help

[potent walrus]

First, check unrekt to see If there are any weird permissions.

[fleet prawn]

Unrekt?

[potent walrus]

If they have your phrase you're in a tough spot that I won't be able to help you out of.

[coral pike]

@brisk surge This is wrong minimum staking time is 1 month

• imo should be greatly extended.

[potent walrus]

Yep, app.unrekt.net - it lists everything you've given permission to.

[bright heart]

Totally correct. It was a brain fart on my end.

[fleet prawn]

Damn that site looks dodge haha

[coral pike]

no worries we all have them

[potent walrus]

Etherscan might have one too, I know bscscan does.

[brisk surge]

thanks for the correction, and I agree that it should be extended, cause rewards should aim at those who stayed earlier and longer

[coral pike]

personally I would like to see RevDis restricted to 12 month stakes but i doubt that will gain traction or ever become a reality not enough people with long term vision

[fleet prawn]

@potent walrus nothing seems to be out of place there

[teal jay]

You can replace your ssd and hard drives and chnage all your passwords

[rose arrow]

Currently IVL APR shows 0% when I click Stake. Is that a bug?

[elder dawn]

Shows this for me - seems fine.

[rose arrow]

yes... but when I click Stake, I see the zero

[brisk surge]

That makes no difference anyways? If someone were to stake for half a year @ 1.5 weight, they'd still only receive revdis relative to that

And as soon as their inital deposit unlocks, they still only vest @ 1.5

So people are still at a benefit if they stake for a year.

[elder dawn]

I'll let the mods respond also, but this just looks like the initial token spend approval transaction. You will then need to approve a second transaction where you'll select your lock-up period, which will determine your token weight and APR.

[worn turtle]

Yes once you approve staking, you choose a duration and type in an amount of ILV it will give you an APR

[unborn socket]

Looked like a successful land sale. Congratulations! When revenue distribution?

[proper ingot]

Hey everyone. Good stuff on the landsale. Has there been word on when distribution snapshot is gonna be? To make sure to claim pending rewards beforehand. Thanks

[rose arrow]

Thanks

[rose arrow]

Thank you. Wanted to be sure 🙂

[worn turtle]

Not yet an IIP is being written

[fading bay]

Guys can anyone tell me wich should be the average monthly gain with 4.6 ILV staked from SLP pool ?

[ember ginkgo]

https://tenor.com/view/soon-gif-19121692

[fickle charm]

2.4 ILV / month assuming you stake it for a full year in the ETH/ILV pool

[fading bay]

Sorry probably i posted badly the question: january 1st i staked 2 SLP in the eth/ilv pool. When i reached 4.6 ILV as reward i claimed that 4.6 as ILV and so it went to the ILV pool starting generating revenue. This 4.6 claimed how much revenue should grant me monthly based ? thanks for answering

[fickle charm]

That I dont know unfortunately, because I am only involved in the ETH/ILV pool, I am sorry 😅

[gloomy gazelle]

Current rate in the ILV only pool that the claimed/vesting rewards are in is 17.5% APR so you stake (4.6*0.175)/12=0.067ILV per month

[gloomy gazelle]

You'll probably want to know how the ILV only pool works as that is where ALL the rewards claimed as ILV spend their time VESTING and earning

[fickle charm]

Oh, that is information I need, thank you very much!

[gloomy gazelle]

!claim

[woven ibex]

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

• When you stake ILV yield farming rewards start piling up for you
• You claim those rewards whenever you deem the pile to be big enough to justify gas fees
• If you claim 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.

[fading bay]

ty

[peak furnace]

Well there goes my ilv.. my unlocked ilv got stolen, sent to an unknown wallet

[proper prairie]

😢 hope it was not a lot!

[high valve]

what will i "get" when staking of SLP end ? eth and ilv back on my metamask ?

[brisk surge]

Staking rewards can be claimed as either ILV or sILV2

[high valve]

i mean the SLP like for me in 60days a part of some ive put are free to claim,so even then its only ilv claim ? no more eth back? thought it was 50 50 in tht pool

[brisk surge]

You put in 50/50 ETH/ILV to make the SLP but the rewards are never paid in ETH

[high valve]

no reward i get it, i claim them 1 a month, i speak of the 2year thing in pool,wht happend when it end

[brisk surge]

Ohhhh. You get back the SLP tokens that you put in. Then you can take those back to sushiswap to unwrap them back into ETH and ILV. The amount you get back could be different that what you put in depending on the divergence of the token prices. It’s called ‘impermanent loss’

[high valve]

i see, thank u sorry im french my english is little poor, can i decide to not unwrap and restack slp back directly to avoid fees?

[gloomy gazelle]

When deposits unlock they continue to remain staked and keep earning at their current weight, until you do a withdrawal transaction

[high valve]

oh dope,thx a lot

[gloomy gazelle]

yeah it's good

[high valve]

thx a lot for ur time too scoot

dream to be a ranger and play beta now haha

[severe igloo]

Be active and passionate and you ll grab a beta ticket
Ngl you ll fall in love with it ;)

[sharp orchid]

Staking in ILV is freaking awesome! Wish I started sooner 😪

[craggy field]

We all do 😂 2 years ago wouldve been a prime time 😬

[sharp orchid]

Atleast we got in now :) not too late ;)

[dark depot]

I wish I didn't stake in the wrong pool at the beginning. I wish i put all my money into SLP pool instead of the normal ILV staking since september last year. Now I have to wait a year to vest my ILV to change to SLP. Do you guys think I should change to SLP when ILV has been vested and unlocked?

[elder dawn]

A lot will happen between now and September. Impossible to say yet.

[sharp orchid]

Keep an eye out moving forwarded and make the best decision at the time. Just be happy you got something staked :)

[turbid swallow]

just wanted to know, if i claim my rewards in SILV will It automatically stake for a whole year like ILV will?

[ember ginkgo]

No, sILV2 is unlocked.

[turbid swallow]

What is the token address for SILV?

[ember ginkgo]

Can be found in #🔗〕helpful-links

[wooden trout]

How did it happen?

[hushed valley]

Do we have a place to see how much Eth has been generated just from the IMX marketplace royalties?

[fresh terrace]

Question

Can someone comment on my video upload on where my purchase from open sea to my nano ledger x went ? https://youtu.be/jNQDrVa4yEQ

[peak furnace]

I still don't know how they got access to my MM..

[wooden trout]

Sorry to hear that. Don’t click on links, don’t open dms. Get a hardware wallet. Good luck to you.

[nimble tendon]

Did you have it connected to your trezor or ledger? Or did it only have password?

[dark depot]

What happens when your ILV in unlocked from staking? can you just leave it there and it will keep staking or do you have to lock it up again for staking?

[cunning perch]

You can just leave it there and it receives rewards and RevDis

[dark depot]

Are there any charts or numbers of how quickly the ILV distribution slowes down over time as we get closer to Jun 30 2024? or is the end date July 31 2024?

So if We have ILV staked we get revdis - if League of legends make 1.4 billion a year, that means they are earning about 83 million a month. If Illuvium over time can make about 50 million a month, and there are 3 million tokens if none is burnt. We will be getting $16 per token for a 50 million revenue a month from Illuvium. which means in terms of ILV tokens as revdis we will be getting 0.059 ILV as of this moment with the current price of $268 per ILV token.

am I correct? I am just thinking. If I want to earn $100,000 a year through ILV rewards I would need 520 ILV tokens staked LOL

so if someone invested $140,000 into ILV right now, in the future they will be making an equivalent of $100,000 currently in 2022 before inflation into the future

[gentle pumice]

there are more tokens, iirc currently the staked token in different pools is about 7.3 milions in total

[dark depot]

what is the total tokens avaialble by end of July 2024 or whenever the last exact date is.

[gentle pumice]

if you mean the circ supply i don't remember the exact numbers

[bright heart]

Check the Overview tab on the official staking site #🔗〕helpful-links
And for unlocks, the tokenomics section of the whitepaper has more info.

[peak furnace]

I was going to move it to my trezor but i staked it before having my hardware wallet.. unfortunately ilv doesn't have a way to move, send or transfer it as necessary..

[slow finch]

Guys can you only stake ILV tokens with a hard wallet like Trezor? I'm looking at the Keynote Pro. Wanted to know if it's possible to stake using it?

[pulsar sonnet]

Of course it is. I'm doing the same.

Your Hardware wallet contains the key phrase and not the coins or the Blockchain itself.

Your Hardware wallet is basically just a middle man that needs to agree too when you sign a smart contract like staking. Nothing more.

[slow finch]

Ah okay fair! Thanks for the info bro! I appreciate it!

[teal jay]

Is there any risk with staking in the ilv/eth pool ?

[spark quartz]

How do I find out the historical price of SILV on Nov 24 2021?

[unreal urchin]

Impermanent loss

[dense flare]

sILV2 was not created back then, if youre looking for the old sILV.. its worthless

[spark quartz]

I claimed some back then and havent done anything with it.. I need to know what it was worth then for tax purposes and then probably convert it to sILV2 and cash it in

[dense flare]

i believe you can look it up on dextools

looks like it was around $440 if im not mistaken

[south crane]

Which pool is best to stake in? Eth/ilv or ilv?

[sly wave]

Both good. Bigger returns with Eth/ilv but possibility of impermanent loss to contend with.

[lament harness]

For tax purposes, it's a total loss from the last sale price. IIRC, That was around $250 or so. But i could be wrong, dextools should have it

[nimble tendon]

Ahh shame but makes sense. I guess I was lucky because I already had the trezor before metamask was invented. Hopefully you can save your locked tokens

[nimble tendon]

Is your country's financial year July to June? Or Jan to Dec?

Technically you had a gain at receipt, but can write the loss off against it if its the same financialyear

[spark quartz]

Yeah I think its all good I figured it all out thx guys

[finite dome]

Hey ILV fam. Is anyone able to help with this message?

cannot estimate gas; transaction may fail or may require manual gas limit (error={"code":-32603,"message":"execution reverted","data":{"originalError":{,"accessList":null}, code=UNPREDICTABLE_GAS_LIMIT, version=providers/5.4.3)

I'm coming hot with a pretty old v1 staking account

[spice shell]

What is price ETH/ILV pool to get 0.5 sILV2, how much i must get in and how much time to wait. All that whit gass 10+/-

Whit today price ILV 280 and ETH 1800

[pulsar sonnet]

Do you have enough ETH in your account?

[cunning perch]

I believe you gotta rise the gas and gas limit

[finite dome]

Yeah plenty of gas. I could try maxing it up

[cunning perch]

both gas and gas limit.

[deft depot]

My initial stake of ILV unlocks in about a month after a year of staking. Can I keep it in V1 and I will still get 2.0 weight? Or am I supposed to restake in V2? (I did the upgrade to V2 ofc).

[cunning perch]

You can just leave it there even if it unlocks. It will still receive rewards and RevDis holding the same weight.

[deft depot]

Thank you! Perfect.

[drifting fractal]

Have there been any details how the revdis is distributed from land sale? e.g. if I start staking now, can I get land sale revdis still?

[cunning perch]

Nothing has been mentioned regarding Land RevDis atm.

[hoary tusk]

gas fee is ridiculous!

[elder dawn]

Right now, about $1500 in the SLP generates around 0.028 ILV per day, when locked at 2x weight. It does vary a bit over time, but that can give you a starting point for your math. There are calculators pinned that also attempt to estimate this. Cheers.

[spice shell]

Do you have a link for such a calculator?

[elder dawn]

Check pins. Most updated is lelahel's

[past glacier]

one doubt

when I stake I have some 200% rate for example, it changes everymoment, or its a contract?! like I stake 200% today, I know i got receive X tokens for 1 year?

[pure eagle]

It is ever-changing, The YF rewards are a fixed amount that gets distributed every day (3 million tokens distributed over a 3 year period) it decreases 3% every fortnight and also the more people that stake in it the lower the reward gets, the lower the APR and APY. There are some great spreadsheets pinned on this channel that can help you calculate what you will receive in a year

[past glacier]

that weight i didnt understood, i saw one sheet

but how you know a height, for example 1500 dollars staking eth/ilv to receive silv2

[pure eagle]

The weight is your multiplier and you get it according to your lock period. If you lock your deposit for 12 months you get x2 weigh, 6 months x1.5 etc. The APR and APY showed on the staking website considers a 12 month lock period (x2 weight)

[past glacier]

ahhhhhhhhhhh

[versed coral]

Is it possible to send SLP tokens from one MetaMask to a different MetaMask wallet or do I need to split them to ILV and eth and send them separately?

[gloomy gazelle]

Eth/ILV SLP tokens are erc20 tokens and can be transferred in the regular way.

[versed coral]

And is it also possible to transfer land to a different wallet? If so, how can that be done?

[gloomy gazelle]

I’ve heard it’s doable. On other IMX dapps. #🎮〕illuvium-zero message

[hushed valley]

Set a crazy high buy price so it doesn't get sniped and then buy it with your other wallet?

[onyx flower]

Tokentrove for transfers, its free

[gloomy gazelle]

Because IMX is awesome

[restive mist]

Wen rev dis?

[ember ginkgo]

Revdis IIP in review. Inc very shortly with some discussion ideas.

[steady trellis]

https://tenor.com/view/glad-to-hear-it-happy-to-hear-it-glad-to-hear-happy-to-hear-geico-gif-21535799

[wet vigil]

How much per SLP token are stakers estimated to make from the land sale when revdis happens?

[cinder escarp]

Depends on t5 sales

[tribal holly]

Morning guys! Do VC tokens also earn ILV rewards ?

[tulip folio]

they earn revdis but they are not "staking" per se and earning yield.

[final steppe]

Hey Jorginho! Yeah, what Keiser said. So the DAO's treasury, team, seed, and preseed tokens are not eligible for yield farming rewards from staking, so instead of being in the ILV or ILV/ETH core pools you see on the staking site, all of those tokens I mentioned are staked in their own separate pool which will only receive RevDis.

[tribal holly]

That's great! Thank you guys 😊👊🏾

[fast trench]

Can someone tell me where I can trade my eth for silv2? Thanks.

[true peak]

theres a link to a unoficial uniswap pool in the links channel i believe

[ember ginkgo]

Don't think unofficial pool is going to be in there. Token address is posted in #🔗〕helpful-links

[fast trench]

Ok. Thanks.

[exotic flicker]

I’ve been staking for months and I have not received any beef 🥩, is this common?

[wind walrus]

Yep, completely normal. You get rewarded in virtual steak coins that you convert into real 🥩. lol

[tough sonnet]

Is it possible to re-stake my ILV coins after they've finished their lock period without withdrawing them to my wallet or do I need to withdraw them and then re-stake?

[serene lava]

Gentleman, I am now noticing that one of my SLP stakes has a v1 next to it. would that be a problem when the vesting ends?

[coral pike]

you don't need to restake after the first time if your stake ends you leave it alone will still earn at the same weight

[gloomy gazelle]

Nope. It’s fine. #🥩〕staking message

[tough sonnet]

Dude, did I just get my metamask hacked???

[gloomy gazelle]

So sorry man

[tough sonnet]

My own damn fault... Fraggy and SolarStorm were helping me and like an idiot I went too fast and responded to DMs from who I thought was them. So stupid. Rule #1 Illuvium doesn't do DMs... how many times have I read that??...... I have to start all over... hackers got everything I had in Illuvium. All my lands, all my ILV

[gloomy gazelle]

Looks like there’s another lurker that joined up just to try and scam you more as well. Maybe they’ll dm you soon. When they do I’ll be ready to ban them.

[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.

[gloomy gazelle]

@runic mason Auto staking revdis is definitely something that was discussed at least a little bit when we were first talking about what the community would want in v2 staking contracts. Maybe @median canyon and @opal elm did look into it.

[runic mason]

@gloomy gazelle thanks for this, just noticed you put it here but honestly my focus is still not quite on staking as it is currently. In fact it wouldn’t be staking at all, just factoring in unclaimed rev dis to future calculations.

[gloomy gazelle]

Except for all practical purposes that’s staking it. A bit like YF rewards claimed as ILV. Those vesting tokens aren’t even minted yet.

[runic mason]

The rev dis isn’t minted? And i might be playing with the word a bit but i guess I’m linking the word staking with a gas fee /contract interaction. Would we really have to pay a fee for them to calculate how many unclaimed rev dis tokens people have and adjust new tokens owed? It’s just a bit disappointing to me if that’s the case.

[coral pike]

You have to claim all revdis . which means a eth transaction. i don't see how that disappointment other than your known bias against the eth network itself

[runic mason]

Honestly this is probably more a bias towards blockchains in general for not being very flexible it seems. Too static.

If it can even do it with one more contract interaction that’s fine but if not at all I’m at a loss for words.

[coral pike]

i would think it would be the same as claiming staking rewards but i don't know as it has not happened yet

[runic mason]

I mean the point here is that all it has to do is look at how many tokens you have waiting to be claimed and factor that into the calculation. The only barrier i can think of is that contracts somehow can’t see that the quantity to be claimed has changed but that doesn’t seem likely otw how do they update to begin with.

[gloomy gazelle]

I’m quite comfortable saying stuff Without actually knowing anything. So my assumption is that it could be doable. But would increase the size of the contract interactions and therefore increase the gas fees for everyone when they actually do the tx to claim. BUT it would lead to many people doing fewer transactions

[runic mason]

And that’s my target here is reducing transactions, and even better, turning ilv into a token that people set it and forget it just like we want. @gloomy gazelle thanks for humoring me as we both discuss something we wish an expert could just show up and give the answer to already xD

If i knew v3 staking was going to be ready by game launch tho i wouldn’t be even concerned about this tbh but i don’t remember it being particularly around the corner anytime soon.

[gloomy gazelle]

Certainly not. Probably v3 after yield farming ends. Or towards the end of it at least.

[runic mason]

definitely worth investing time into then considering the number of wasted transactions we could save people from otw

[coarse harbor]

In regards to RevDis, was there a snapshot taken before the land sale?
So people only staked before the land sale will benefit? Or are the RevDis from the land sale going to be available to any new stakers?

Especially if the RevDis is going to be spread out over a period of time.

Just seems like there is massive potential to abuse the RevDis system.

Imagine when we finally get capitulation in the market and ILV is around the $50 mark, people scoop up cheap tokens, stake them and their ROI from RevDis is much higher than people who were staking BEFORE the landsale, not too mention being dissipated from the new stakers that WEREN'T staked before the land sale.

[cosmic trellis]

Hi frens, even if I upgraded my V1 locked stakes they'll still say V1 beside them on the vesting page right? I've upgraded them a long time ago but they still have the badge

[keen sequoia]

Hey! this question was probably ask a thousand time so sorry in advance, is there a approximative date for the release of revdis ? Thank you!

[elder dawn]

Upgrading enables staking v2 to read the v1 contract, but those tokens remain staked in v1. They show v1 until they are withdraw or there is a further improvement to allow migration to v2

[elder dawn]

This is under discussion. No confirmed date or length of time for distribution yet. Top priority right now.

[patent panther]

Sad to hear buddy.

[versed coral]

Sad to hear man. Did they ask you to click on a link or connect your wallet to somewhere? Or were you requested to provide your seed phrase ?

[ember ginkgo]

😦

[south fable]

The opportunity here is literally 1usd per ilv, not much of abuse potential imo. In the future, when revenue stream is constant, it will not matter much either.

[ember ginkgo]

#809220563397902346 message

[mighty bolt]

Staking question.

If I stake now, can I continue to add in or do I need to withdraw first?

[restive mist]

You can always add more, however you lock each instance of staking for a certain amount of time (min 1 month).

[undone flax]

HI! im new to staking. +-how much ILV i could get if i would lock in 6ILV for 6 months?

but ILV is ILV. so i stack ILV to get ILV, how does market price effect that

[high current]

Hey, Deraji did some numbers on the rev dis lately, correct me if I’m wrong but I think he said that 1 slp token from the liquidity pool equates to 2.65 ILV in rev dis, was this in reference to the first 20% of the land sale we’ve just had, or was it speculating what would be gained per slp when 100% of land was sold, including the tier 5s ?

[elder dawn]

This was purely the output of impermanent loss, and shifting assets in a liquidity pool token. The biggest implications while remaining staked are how much your share of revdis would be, and how many votes you get during an election. Currently, it's up to almost 2.7 ILV per SLP token. Based on the T1-4 revenue, this means per SLP at 2x weight, revdis would be around $2.70. Tier 5 will be additive to this since it's only in ETH, but TBD on how much those sell for.

[elder dawn]

Hi @undone flax there are some calculators pinned by Lelahel and me that attempt to predict this, but there are a number of factors that don't make this an easy answer, particularly with token unlock coming. The more tokens that are staked in the pools, the fewer tokens you receive. There is also a 3% decrease every two weeks. Play with the calculators to estimate how much you think you'd expect in 6 months, but I'll say the next 6 months may be tricky to predict. As for impact of ILV price, if it goes down, that means your rewards will be worth less. If it goes up, it means your rewards are worth more. Price does impact the APR for the SLP, but not the number of tokens given as yield farming rewards, which are on a fixed distribution pattern. Hope that helps!

[stark minnow]

Are there any advantages/disadvantages to immediately claiming rewards you've gained from staking? Thanks in advance!

[brisk surge]

You just want to make sure that the rewards you claim outweigh the cost of gas. Usually smaller amounts to claim are not worth it as you won't recoup the gas fee with claiming the ILV to compound interest.

[gloomy gazelle]

Once claimed as ILV those rewards then start earning. But you have to pay eth transaction fees to 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.

[elder dawn]

You need to balance the advantage of compounding with the disadvantage of transaction fees. Advantages:

1. begins 12 month vesting period to withdraw (unless selected as sILV2)
2. rewards staked in ILV pool at 2x weight (if claimed as ILV)
3. reward ILV eligible for revdis
4. reward ILV count towards voting power
   Disadvantage: each claim requires a ETH transaction.
   The real monetary benefit is the value of compounding, earning ILV on your ILV. However, right now this is around $0.12 per day per ILV claimed, and decreasing over time. Therefore, if you have 5 ILV pending, it will take a little under 2 months just to recover your gas fees if claimed with a $30 transaction.

[stark minnow]

Thanks everyone! Very helpful feedback. Much appreciated

[past glacier]

❤️ @elder dawn I staked exact that ammount 1500 dollars about 5.24 ILV, but I paid about $6 to allow contract, once time only, and $10 in eth taxes, in BRL time about 01:00/02:00 the lowest ETH rates always. that should be like 04/05 UTC

[elder dawn]

Yep, definitely being smart about transaction fees can save you a lot! I try to use high estimates since most people aren't as diligent. I've been able to claim recently under $10 for both SLP and ILV pools, which is amazing, especially compared to October/November last year!

[past glacier]

@elder dawn maybe you can help me with a doubt, I studied AMM, liquidity pools and so on. When I stake ILV/ETH, I am putting 50% of ILV and ETH in the pool, with the price that moment. The nightmare cenario would be ILV price goes to 0. But even the nightmare cenario, I would still having 50% of the ETH I putted in the pool in the beginning, works this way?

ETH same price, but ILV price today 300, ILV price when i Withdraw 150, what would that means? I lose 25% of my initial money? which means 50% of ILV, cause ETH still same price?

[fair wharf]

For those who live and die by SLP pool: I am DCAing, so how much SLP should I have saved up for it to be worth gas fees to stake? Not looking for FA, but educated opinions

[brisk surge]

When I staked my SLP it cost me around 40$ in transactions when gwei was around 20ish. You need 3 transactions to stake if I remember correctly.

[fair wharf]

So i should probably wait until i have a substantial amount before I stake 👍🏻

[brisk surge]

It depends what substantial amount is. For me I currently get around 1 ILV in rewards each month with .76 SLP staked in april. I claim the rewards when I notice gwei is 20 and under so that the fee to claim is only around 15$. The ILV you claim vests for 1 year and earns rewards based on the current APY. If the reward apy doesn't cancel out the gas fee within a year, I don't bother to claim.

[elder dawn]

this is the exact pain of impermanent loss that everyone talks about. As the prices diverge, by providing liquidity, you receive more back of the token that performs worse. Once you add liquidity, the ratio will constantly change. Today, it's 0.4 ETH + 2.7 ILV to make one SLP token. If ILV keeps slipping relative to ETH, the ratio will also change, so it might be 0.2 ETH + 5 ILV in the future. Ultimately, if one goes to zero, your total value goes to zero, and the ratio would be something like 0.001 ETH + 1000 ILV. So your 1 SLP would give you a bunch of a worthless token. This is the risk tied to providing AMM liquidity with any pair. I wrote a BUNCH on this - if you go to infoluvial and search "divergence" you'll have a weekend of reading material. I hope that helps!

[past glacier]

Got it. I went to impermanent loss calculator

Simple but extremely easy to understand. At the end. You would have nothing of eth in the pool and 100000 ILV with 0.0001 value. Got it.

[elder dawn]

Also remember, impermanent loss is actually a measurement of how does your investment perform relative to NOT providing liquidity. Check out my "heat map" article to see how it varies across a big range of values, with both tokens moving up and down

[surreal vortex]

I had X amount of ILV in pending rewards. When I staked them my total claimed shown in the dashboard did not change. Am I missing something? thx

[elder dawn]

Try refreshing, or make sure your transaction went through on etherscan. Presuming this was a claim as ILV. If so, it should show once the transaction processes. For sILV2, they should be in your wallet immediately after the transaction processes.

[surreal vortex]

i logged out and logged back in and now it shows up. thank you!!!!

[fast trench]

Does anyone know if we'll eventually be able to transfer our staked ilv from a MM wallet to a hardware wallet when it unlocks? Thanks.

[elder dawn]

currently, for stakes locked in v1, transferring to a new wallet while remaining staked isn't an option and was dropped from v2 due to complexity. You can always unstake, transfer, and restake after it is unlocked, but that loses the weight and "time served" in the pool. Potentially in a future staking upgrade, it could be enabled.

[fast trench]

Ok, too bad but thanks for explaining. So anything in the "vesting" section that has v1 next to it can't be transferred to a hardware wallet without having to unstake and lose the weighting but anything claimed after the V2 update can be transferred to a hardware wallet without unstaking right? Thanks in advance.

[elder dawn]

yep, that's how i understand it. i haven't had to try with v2 yet, so i can't speak to how that will work.

[fast trench]

Thank you. Appreciate it.

[serene lava]

Hello guys. Yesterday I fell for a scammer, not with my main account but they claimed .62 sILV2. I have reached out to Metamask, how ever I was wondering something. Is it possible to move my staked $ILV and my SLP tokens to my main account? 🤔

[gloomy gazelle]

Did you stake only in v2 contracts with the wallet that is compromised? Like only after march 30, 2022.

If you did stale only in v2 contract then it is technically possible but I don’t actually think it’s been implemented in the UI yet.

[serene lava]

Hmm

[gloomy gazelle]

If you have anything in the vesting tab that says v1 then it is not at all possible

[serene lava]

I did migrate to V1 oddly thats how it all started. I noticed that it says v1 on my slp token. I asked in #🥩〕staking and that guy impersonated one of the mods. So yes it says v1 but then when I click on my wallet it says that i am migrated 🤷🏻‍♂️

[gloomy gazelle]

Mmm so it was originally staked in v1. So it can’t be “transferred” until it unlocked and is withdrawn.

[serene lava]

Oh well. Lets see if metamask can help on the wallet side then

[undone flax]

thanks!

[steep sorrel]

my investments is Halved 😦

[clever lance]

mine is at 1/3

[undone flax]

if you dont need to take it out as USD, all is fine. nothing is lost, you just get more ILV, and eventualy it will grow, as this game is gonna get high. I realy trust development team, as i have followed and seen its doing great job

[true seal]

is it still worth staking in eth/ilv pool?

[elder dawn]

Like any investment, that's up to you. What do you feel the value of ilv will be long term? What do you expect to happen with the yield farming pools once seed/team/early YF tokens unlock? Only you can define what is worth it to your situation.

[true seal]

ok thanks, where xan I find the unlock schedules?

[elder dawn]

If you go to my dashboard linked in the message below, click on tab unlock2, and I have the exact daily unlock listed. #🥩〕staking message

It starts June 30, and is pretty aggressive for a while.

[pulsar sonnet]

When will the Revenues from the Landsale be payed out?

[atomic lagoon]

iip needs to come out first and voted before the revDis. Personally, I am looking forward to an iip before the end of this month.

[lost swallow]

I don't believe that will be overly substantial because a lot was paid in silv2

[rapid sentinel]

$1 per token

[pulsar sonnet]

Revdis won't get payed out to the SLP stakers, right?

[ember ginkgo]

They get revdis on the ILV part

[pulsar sonnet]

Oki doki, thanks 🙂

[pulsar sonnet]

0,0150 ILV per staked token if the use they 4018 ETH to buy ILV right now.

[pulsar sonnet]

Not 1$ ⬆️

[snow hinge]

Does anyone know whether the v2 functionality of batched actions (e.g., unstaking multiple unlocked tokens in a single transaction) applies to v1 SLPs that are now unlocked? I have multiple v1 unlocked SLPs that I would like to withdraw, and can't figure out how to do that in one transaction. It seems like I might have to withdraw each one individually and pay multiple gas fees

[cyan rampart]

I believe you'll have to withdraw individually. Your V1 deposits still abide by the V1 rules, the only difference with Upgraded V1 deposits is that REWARDS are handled by the V2 contracts, which is why they can be batched.

[snow hinge]

That makes sense and confirms what I suspected. Appreciate the response. Is my understanding correct that I should be able to batch withdraw my v2 SLPs when they eventually unlock?

[cyan rampart]

Yeah that's correct, deposits made into V2 directly should be able to be batch withdrawn.

I haven't personally tested this, but it's my understanding that they should work that way.

[carmine badger]

Wow, thats so minute. Should be per SLP for the LP providers.

[gloomy gazelle]

There’s quite a few ILV in each eth/ILV SLP token at the moment. So probably you mean something like usd value of each deposit should be considered.
Generally, the incentive to provide liquidity is that you get more ILV as rewards. And those vesting ILV rewards would then be eligible for the revdis.

[carmine badger]

Thanks Pel!

[mighty bolt]

I want to move over all my ilv(which most has been staked) to my cold wallet and then stake there.

Is it possible to do this through illuvium or would I need to just claim rewards, and after a year I could switch the ilv once received?

[fallow dew]

I put 150$ in ILV/ETH pool, spend almost 40$ just in fees XD

first timer, but now I know how to do it

[craggy field]

If you staked back before January in V1 you will have to do the following: First wait for the staked tokens to unlock by itself, then withdraw everything and send it seperately to your ledger before staking on that wallet. Note that vesting tokens would need yet another year to unlock.

You could also import your metamask seedphrase onto a ledger and reinstall metamask to clear your old wallet there. This way you would continue using the staking wallet, but it would then require the ledger verification when doing transactions.

If you staked on V2 there should be a function in the contract to change the ownership of your assets. You might have to interact with the contract directly and i am not sure how to accomplish this.

@cyan rampart would likely know more about transferring staked assets on V2 staking.

[gloomy gazelle]

You would need to wait for it all to unlock then withdraw and transfer and stake again.

Technically, you are able to import an old seed phrase (your hot wallet) into your hardware (cold wallet). It’s not as good as having a wallet that was always cold. But it’s a little better than just leaving your old staking wallet as a hot wallet. But only a little. Since your wallet was hot for however long. Ledger explains how to do it. It’s nothing super special. Don’t get scammed by anyone sending you a DM.

Oops I should have read garf’s response.

[craggy field]

How do you send stuff from one wallet to the other on V2? Is that possible yet?

[gloomy gazelle]

I think it’s possibly in the contract. But not in the website UI.

[atomic quartz]

When our tokens unlock will we be able to wait for multiple batches to unlock then transfer them all at once?

[gloomy gazelle]

Depends on what contract the tokens are in. V1 or v2. Vesting tab has that info. V1 deposits will need to be withdrawn one at a time. Tokens unlocked in v2 can all be withdrawn at once. Pretty sure.

[atomic quartz]

Yea that’s what I thought but I just wanted to check. Thanks for your help 👍🏼

[short heart]

Doesn’t actually sound like much for SLP. Welcome to the pool! I also have a small amount staked

[wind walrus]

I would be ok with that.

[mighty bolt]

Thank you and @craggy field

[steady trellis]

Sadly it’s 4x less than that. Certainly the usual calculation mistake of not counting the seed/team token eligible.

[carmine badger]

Can i suggest to the Warwicks and Illuvinati council to increase the APR/Y for staking at this time please??

This is the time to reward real stake holders who keep on staking in a bearish price.

[gloomy gazelle]

The staking contracts are written and predefined. YF Apr can’t simply be increased

And with eth/ILV being one of the DEEPEST liquidity pools around, it seems to have worked.

[glacial scroll]

whats the lowset gas has gotten to lately?

[reef python]

18-20

[agile basin]

Anyone able to help, i had some ilv and the slp staked in V1 and so i just claimed and withdrew my rewards in ILV. The tokens havent showed up in my metamask under the ilv token. My Slp that i withdrew has. Also ive forgotten where to find the bridge to change from slp back to eth

[brisk surge]

Try adding it to your metamask via the contract address

[gloomy gazelle]

!claim ILV rewards and they are locked for 12 months of vesting.

[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.

[nimble tendon]

Hi Guys just checking in is our RevDis from the land sale ready yet? Need some beer money

[cunning perch]

Hey not yet.

[nimble tendon]

All good, if I miss it there's no time limit to claim right? Gotta focus on getting job during the 🐻

[cunning perch]

NO worries. it will sit in your Dashboard until you withdraw it to our wallet

[steep heron]

How does LP work. Say i add 1 eth, that is 6,6 ILV tokens. Do i get 6,6 SLP tokens then?

[nimble tendon]

You get SLP tokens roughly equal in $ terms to your initial deposit.
You can see the calculated value of each SLP by looking at the right side of this page where it says "Tracker"
https://etherscan.io/address/0x6a091a3406e0073c3cd6340122143009adac0eda

Since token values move independently, the tokens you get back on each side will be different and minus some impermanent loss. The goal is for the yield to make up for and be higher than any impermanent loss (in ILV case it usually is)

[last agate]

Roughly how many ilv i will get in 1 month with 2 slp token ?

[last agate]

One more think when the unlock will stop after starting from 30th june ?

[tawny garden]

Any way to know how many ppl are staking atm?

[gloomy gazelle]

There’s blockchain data on how many wallets are staked. Some of the pinned tools have pulled that data.

[gloomy gazelle]

That info should be in a pinned post in #💰〕token

Unlocks are linear. 1 year for the seed/preseed and 3 years for the top team holders.

Here’s the post…#💰〕token message

[lean prawn]

Roughly speaking - Is it good practice to claim your staking rewards once per month? (Wasn’t sure how much gas fees generally cost). I’m guessing the pros to claiming once per month (vs once per year) is that you accumulate compount interest on claimed rewards (vs never claiming rewards & never adding more ILV to your compound interest)? Thanks!

[coral pike]

@elder dawn is the master of math's they have a calculator check pins in staking I not sure if they have updated recently or if it even needs updating

[lean prawn]

Ok noted thank you!

[elder dawn]

The key thing to consider on claiming is the value gained. Right now, the main benefit is compounding, with the claimed ilv staked in the ilv pool at 2x. Right now, you get about $0.11 per day per ilv claimed. Given the transaction fee, figure out how long it will take to earn your fee back. Very few people would benefit from a monthly claim. I encourage a claim once rewards hit a certain threshold. Personally, I go for >8 ilv available to claim, then wait for the next cheap gas time.

[lean prawn]

Ahhh I see, that’s a great way to look at it 👍. - By the way, I saw the rest of vids you were in (the Scoriox one) plus working torwards reading infoluvial. Really good stuff!

On infoluvial is there a way to filter by articles you specifically worked on? (If no no worries, the whole website is awesome 😎) thanks!

[elder dawn]

Awesome, happy to help. As for articles, click on my profile and there's a link directly to all of my articles, or just click on my name as the author on the site

[midnight crow]

When I initially claimed ILV and SLP pools when v2 went live they claimed together into a common vested pool. I just did it again last week and they claimed into two separate vested pools. Could you explain what is going on?

[elder dawn]

Each claim is a unique event. When you first claimed from the slp, you only had rewards pending in the slp pool. When you claimed the second time, you received rewards from both the ilv pool (compounding) and the slp pool. Thankfully, v2 enabled both to be claimed in a single transaction.

[midnight crow]

Actually, both the first and second times I claimed, I claimed from both ILV and SLP pools in one transaction (by checking both boxes). However, the first time they both claimed into one vested pool. When I did it recently checking both boxes claimed in one transaction, but into two vested pools. Just wondering why in that 1 week window when v2 went live claiming acted differently to now.

[elder dawn]

When you first claimed, did you have something in both pools, or just the slp? That's the only thing I can think of. It makes no real difference, just eventually how you withdraw.

[midnight crow]

Yes, I had claimable rewards in both ILV and SLP pools (as we couldn't claim since Jan and the rewards had built up over the 2+ months). The difference is having a small vested pool will not really be worth having as it will be more in gas fees to remove it. It was nice to have that small amount from the ILV rewards to be added to the much larger SLP rewards into one pool.

Do you know anyone who could help clarify this?

[elder dawn]

Dm me a screen shot if you're comfortable with that.i might not be understanding

[cyan rampart]

If I'm understanding correctly, this shouldn't be an issue. Rewards you claim now are all claimed via V2, and so even if they display separately in your vesting tab, you'll still be able to withdraw them at the same time.

[jolly kite]

Is there a rule of thumb on how often to claim rewards for maximum returns?

[tulip folio]

depends on how much you generate compared to gas prices. But in general every 8 ILV is good. More often compounds more but pays more in gas fees.

[jolly kite]

ok ty

[past glacier]

Sad. Didn't made whitelist for beta 😩

[austere olive]

Anyone also considering adding more to the ILV/Eth pool? Looks like a good opportunity imo

[fresh grail]

Wrong chat, but make ranger and you should be on the list next time as long as you have registered on the website

[tulip folio]

Personally I'm waiting to see if there's more pain ahead. $100 ETH and $15 ILV is my target 🤡

But actually I just added a bit a couple weeks back while ETH was crabbing around the $1700s.

[midnight crow]

Ok, thank you. That helps. Does it also apply to v1 pools?

[cyan rampart]

Definitely, it's mostly a question of timing for me.

[cyan rampart]

V1 deposits are locked in V1 contracts, and will remain there and play by the V1 contract rules (i.e. need to be withdrawn individually). The Upgrade from V1 to V2 lets the V2 contracts read V1 deposits, and allocate rewards within V2.

The deposit itself hasn't changed, but rewards are within V2, if that makes sense.

[midnight crow]

Alright, thank you so much for explaining it!

[gentle axle]

Hi everyone, I have 1.5 SLP locked right now. If I want to add some more SLP, all I have to do is stake and in the process collect accumulated rewards? I vaguely remember something about having to unstake then re-stake but I'm not sure

[elder dawn]

You can just start a new stake with the additional slp. You can't add, but you can start a second stake with its own lock up period. You will be able to claim rewards from both together

[gloomy gazelle]

There is no need to withdraw. (The only reason there was previously to withdraw was when people were staked FLEXIBLY with no lockup ever and had to upgrade to v2 staking contracts which did away with the flexible option)

[gilded dove]

100$ ETH wtf are u smoking bro?

[undone flax]

it will be around 700 and then stay at that price for 2y

[hot lynx]

Hi just popping in and perhaps this has been covered or a cool comand has the reply !RevDis guess .
wen and how RevDis thanks and happy hunting for the market bargains

[ember ginkgo]

!revdis

[woven ibex]

The DAO distributes 100% of vault 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.

[hot lynx]

!wen 😂 @ember ginkgo

[ember ginkgo]

https://tenor.com/view/illuvium-illuviumio-ilv-yield-farming-gif-22225026

[mellow hull]

Seems as reasonable as anything else

[turbid drift]

What we waiting on for the revdis to be given out? Seems to be taking a while

[tulip folio]

well for one the land sale isn't even complete, but also the way it's distributed needs to be finalized/voted on by council. buying it all at once would waste a lot of money on expensive ILV tokens.

[turbid drift]

Whens tier 5s being auctioned?

[tulip folio]

no idea. Soon™ ? There was a problem with the 3rd party contract and so it's being reaudited/fixed

[gloomy gazelle]

There’s an IIP for revdis coming soon

[hot lynx]

That's the detail we are looking for thanks 👍🏻

[abstract sluice]

When it comes to revdis, are stakers given the option to choose to claim the revdis or is it automatically to added to other staking rewards?

[final steppe]

RevDis rewards are unlocked tokens. So you will be able to claim them and withdraw immediately to your wallet 🙂

[valid peak]

Are staking on ETH main net or at Imutaable x? 🙂

[cunning perch]

It is currently on L1 not L2 (IMX)

[brisk surge]

Rewards going away in SLP is like early 2024? Blanking on where to find this

Ah mid 2024 sounds like

[final steppe]

Correct! Yield Farming rewards last 3 whole years, and they began June 30th 2021

[shut granite]

hey guys, is there some website or anything with detailed staking-information ?
im very new to this and wanna know everything about it. What is SLP compared to normal staking ? how much revdis do i get per ILV / Month... all that stuff 😄 i tried to find some information online but it just confused me with some crazy APYs... 170% or so.

[brisk surge]

go through the pins in this channel, some good info in there

[storm wolf]

Why is gas so frigging high wtf

[brisk surge]

ppl panic selling

[storm wolf]

I think you are right

[brisk surge]

this amount of selling is incredible to witness. Any price point is realistic for whatever crypto

[gloomy gazelle]

This is a detailed read. #🥩〕staking message

You should also check out the official medium posts regarding yield farming.

[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.

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.

[vital kayak]

Rev Dis IIP Proposal dropped

[vital kayak]

[steady trellis]

This is what the distribution of the revenue from land sale would look like with the proposal.

Lot of additional points of the proposal are there to open debates and discussions but the core part of it is very simple : 500 eth minimum per day, 5000 maximum eth based on a 20% daily distribution on the vault value.

[nimble forge]

How many slp is $5000ilv+$5000eth?

[cinder escarp]

You can look up the ilv/eth slp price. Its around 1000$ now i think

[cinder escarp]

So i think around 10 slp

[nimble forge]

Ok. Tnx

[shut granite]

@gloomy gazelle @brisk surge thanks

[fallow leaf]

someone knows where i can covert my slp back to eth ilv

[hazy token]

are they unstaked? If that is the case, I believe you can do it from within the Sushiswap pool

[fallow leaf]

thank you

[cyan rampart]

You can remove liquidity using Sushiswap, it's pretty much the exact opposite process of when you provided liquidity.

[fallow leaf]

Thank you

[storm wolf]

just claimed my ilv and restaked it into the pool. why not?

[verbal summit]

Hi team,
Once my stake becomes unlocked, does it still earn rewards and/or revdivs? Or do need to restake?

[brisk surge]

you continue to earn until you withdraw, no need to re stake

[verbal summit]

Thanks

[cinder escarp]

For now👀

[elder dawn]

Since this channel has been relatively quiet lately, I'm going to advocate for moving the extensive debate on requirements of staking/weight and implications of revdis here for the moment. Mods, please feel free to delete the posts about to follow if you disagree.

Regarding the extensive debate on staking/relocking/token weight to be able to earn revenue distribution, I would ask you to really consider how much value one is paying to give up their right to sell. Since new investors seem to be a concern, I would also ask you to take the name Illuvium out of the equation and evaluate two future investments. One is an investment in a top gaming studio offering a 2% dividend (revdis) and you can sell at any time. The second offers a 10% dividend, but you must give up your right to sell in order to receive it. Which would you invest in? What is the value of not being able to sell?
Not all selling is bearish. What if you need a new car? Need to move? Buy a house? By requiring a perpetual lock to receive a "dividend", all of these investors who live in a real world of occasionally needing money would walk right by if it means giving up the right to access their principal.
We are in a different world right now, one that values TVL, and where rug pulls and pump-and-dumps are all too common. We are also talking about a future world where Illuvium has stable incoming revenue and multiple products.
Merit Circle yesterday shows the additional layer of risk to invest in a DAO, where investment terms can be changed when the community feels like it. That’s not a good look for any DAO looking to attract new investors. Because of this type of behavior, there must be a “DAO premium” paid for lack of future stability in governance.
For those saying “but its scary that OG investors could dump at any point if they aren’t locked! I won’t invest.” That is a very crypto thinking. Are we talking established Illuvium when revdis is the primary source of value or right now? For an established firm, do people say, “I’ll never invest in Amazon or Tesla because there are a ton of investors way up that can sell at any point!” That’s up for the investor to decide, but having a good product and long term runway gives you reason to invest, because you and OG investors are both rewarded for future growth, not past performance.
If Amazon were to offer me a 5% dividend if I perpetually gave up my right to sell, I would tell them to go away. How high must the return be to give up the right to sell? If the past month of global markets has taught me anything, it’s way more than 10%. Looking at the ILV pool right now, personally, it’s way more than 16% decreasing daily to me. What is your return number to give up the option to sell if Illuvium pumps back near $2000 again?
I am for decentralization and the potential of the DAO model. I am for Illuvium and believe in the potential of the founders, the team and the proposed products. However, above all, I am for the wellbeing of my family, and that means I need to deploy my investments in a way that sets us up for success. Taking emotion out of it, that’s why we’re all here. I’m happy to evaluate any proposal and build to make it better, but I am highly confused and concerned with the thinking of much of the IIP channel yesterday in terms of alternative investments that don't require me to give up access to my principal.

[gloomy gazelle]

@modern anchor I saw your question in #981717569440452658 but it was about #🥩〕staking so I’ll answer here.

Staking yield farming rewards are accrued a little bit every BLOCK. So like a little bit every 15 seconds. You can see that in the rewards tab of the staking site. It’s the PENDING rewards.

Only trust links in #🔗〕helpful-links. Read the #📋〕comms-policy and don’t get scammed by DMs.

Here’s some more info about CLAIMING those rewards.

[woven ibex]

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

• When you stake ILV yield farming rewards start piling up for you
• You claim those rewards whenever you deem the pile to be big enough to justify gas fees
• If you claim 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.

[gloomy gazelle]

This spot makes sense. Or a thread in governance somewhere. But I can’t make that apparently. So here’s good.

[modern anchor]

That's means that could reflected any time on my dashboard, I assume that I could see that an specific time daily basis

[gloomy gazelle]

It updates live

Blockchain is always on.

[modern anchor]

Thanks !!!!!

[gloomy gazelle]

So it does look like Aaron did open a thread a little bit ago. I hadn’t checked.

[elder dawn]

Yeah, this was my response to some of the ideas proposed (in a standard, wandering IIP channel discussion that's hard to follow). I don't think the opinions I express were considered by many, and hopefully my "article" above causes some different debate, while also focusing on the problem that is actually trying to be solved, and view it not in isolation of Illuvium but alternative investment choices in the future. Overall, this discussion feels way too early and the current system feels quite fair to the DAO, new investors, and OG investors. There feels like modifications that could be made to promote new investors (require restaking to retain benefits), provide additional value for length of time tokens remain staked (hurts decentralization, rewards stable OGs, and creates a barrier to entry for new investors), or remain as is (retain weight after unlock - but require everyone to pay one year inability to sell to begin the benefit - just matters when you start your lock).

[cinder escarp]

Tldr. Relocking yes or no?

[elder dawn]

Against relock to maintain weight.

[steady trellis]

New @elder dawn proposition of distribution numbers and impact

And here is initial Aaron's one

[elder dawn]

Thanks Lelahel - I was trying to get the debate focused on the actual terms in play versus making it more complex through complete revision of the revdis system. This integrates Santiago's comments to TSG in the election debate, while slightly smoothing out land sale revdis. The biggest change is how these terms impact future single generation events, and create a ~1 year ramp up of revdis, while rewarding those who remain staked the most. Open for debate in https://discord.com/channels/760344898200666112/986655180269441104

[steady trellis]

Some issues with this formula : https://docs.google.com/spreadsheets/d/1AgmX8Klt7VuzrBcwM-lSugoeiUDj9ZSJcs4cCcOFpnE/edit?usp=sharing

ok maybe i made a mistake in there it's super late ^^ sharing in editable mode for anyone wanting to correct it

maybe it's simply that the distribution reach the level of income, so vault stabilize and is never empty .... with fluctuating daily revenues, then we shouldn't see that

[vivid ruin]

100% agree with this, I think the weight system is there only to counter revdis sniping behavior nothing more. After the 1 year someone should just let their stake ride aslong as they want as weight 2 unlocked. If they unstake, they lose the 2xweight. I think this is enough of “controlling the situation”. Revdis incentive will do the rest.

Also i might add that this pump to 1800 had nothing to do with price discovery but more so because of the low float of tokens(=non-locked tokens). Which makes pump and dump cycles very easy to happen from relatively low volume increases(=bad thing). It makes for more subtle price movement wen more people are able to sell freely, hereby dampen price pumps.

And assuming revenue is not correlated to the price of ilv but correlated to the quality of the product. I definitely prefer everyone being able to sell, selling means lower ilv price -> same revenue distributes means more ilv distributed to me(=the longterm staker).

[tawny hare]

I respectfully disagree. The "value" we would be giving up with the ability to end and sell our stake any time we want, thus creating instability and lack of confidence for any future investor looking to get involved. It creates the exact scenario we're experiencing right now with upcoming pre-seed and seed unlocks - Everyone is petrified that millions of tokens are about to unlock and decimate their investment. The longer this goes on the worse it becomes, 5 years down the line when there are millions of tokens staked in 2x weight and nothing holding them in place, there's no way I'd be confident in locking up my investment unless I had assurance they weren't all going to dump on me.

Isn't an investment made to create generational wealth and passive income? I would've thought if you want a new car, buy a house, go on vacation, you would be saving your salary for it. Why would you invest to a point where you have no outside capital if you're planning to spend on liabilities? Just stake what you can afford to lose and keep money aside for security. I'd rather people not be involved at all if they can't afford it. Also in theory all of those things could be aided with revdis.

I agree on your points about a DAO premium, people have to be confident in the project AND community to want to invest large sums of money... I think locking provides a lot of that confidence and shows that the community aren't just there waiting to drop their bags.

Yes it is very crypto thinking, but no matter how you look at it ILV is a cryptocurrency so that's exactly how future investors will see it. For an established firm like Amazon or Tesla you aren't required to lock in for up to a year while all the larger bag holders aren't. They also aren't anywhere near as unstable as the crypto market so it's a poor comparison.

What you're saying proves exactly why lock-ups are necessary. Future investors will be thinking "Well if this pumps from 2k to 5k I'll just get dumped on"

[tawny hare]

The issue is everybody can't sell... The sorry people that have just locked in for 12 months are left holding the bag

You also make a very valid point in the fact that above all else you care about your family so you need assurance that you can withdraw your investment at any time to support them. Every other person will have their own reason for wanting to be liquid. There's absolutely nothing wrong with that but if I'm a new investor looking to get involved, I know for a fact nobody is going to give me a second thought over their "reason" and will dump on me no questions asked when it's time to withdraw.

[elder dawn]

We largely agree, we just differ in timing and perspective. I totally agree, as long as crypto as a whole is in its infancy and current global financial perception, investing here is purely speculative and never invest more than you can afford to lose. However, the multi-year vision is for ETH and others to enter more traditional investment strategies as another dimension of traditional equities. We are already seeing some acceptance of a minor percentage of retirement and more conservative role investments adding crypto exposure. Five years down the road, we may be in a different place. That is what mainstream adoption means.
The founders’ vision was never to win the crypto gaming space, it was to become Activision or Epic. If that becomes reality, then that is the investment bar as well, which is what I highlighted above. Illuvium becomes the Tesla/Amazon/Activision of the future. Since much of this concern was around the distribution of large recurring amounts of revenue, that is potentially the maturity stage we are discussing. I stand by my assessment that if only appealing to speculative investors versus going after broader/mainstream investment community is more limiting to token appreciation than anything discussed here. Such policies to limit investor appeal directly stunt potential token valuation, which further impacts the DAO by reducing the Treasury value.
As we debate this over the coming years, I continue to ask what problem are we solving, and who truly is Illuvium’s competition? Axie or Activision? That comparison goes beyond gaming and revenue, and enters the which investors are excluded/encouraged to engage.

[tawny hare]

Well when it gets to that stage I'm sure we'll all be too busy drinking daiquiris in the Bahamas to think about selling our stakes

I hope it matures that quickly - It would remove a lot of the scepticism crypto gaming has right now and would probably make my concerns redundant

[vivid ruin]

Im completely oke with this, that was the choice you made to get revdis. And the lock up is to prevent revdis sniping.

[gloomy gazelle]

Shoot, if I'm the only one still holding staked ILV I get all the revdis.

[vivid ruin]

This fear that you point out is just there temporary, we dont even know that it will happen the way you describe. Once we are having revdis run for 1-2years the unlock of tokens shock will no more be there. Creating a natural price discovery due to all tokens being available, just like any other stock that is being traded on CEX’s

[ornate cypress]

Everyone is so scared of people selling you're going to end up scaring away potential buyers with all these hoops to jump through

[tawny hare]

Yeah perhaps, I'm just talking from my perspective if I was on the outside looking in. 😄 I'm already sitting on heavy bags that unlock soon so it works out way better for me personally if I can stay unlocked with 2x weight

[desert sandal]

There is always going to be the minority that revdis snipe anyway. Token unlock is a good example, if someone wanted to get out right at unlock they won't, they are going to wait for land sale revdis to be distributed then leave especially since the plan seems to be a short time frame distribution.

[gloomy gazelle]

No one has to lock for longer than the 1 month anyways. It's the commitment to the longer lockup that leads to higher weight

[vivid ruin]

Yes same, and you might be right that I underestimate the effect of people having unlocked tokens staked vs being able to say to newcomers X amount is locked for Y duration.

[vivid ruin]

You mean reverse sniping? 😂 ye i guess thats possible

[desert sandal]

Yeah 😋

[vivid ruin]

But for that “opportunity” you needed to leave your stake for a year atleast allrdy for the 2x weight so i wouldnt call that a snipe

Another important thing is also that we just have to wait and see and see how the token unlock of early investors plays out. Most of what we are doing now is just speculation, once we see the unlocks happening we have an example/sample of what people tend to do.

[desert sandal]

No one smart with low ILV value and incoming land and illuvatar sales revdis should be leaving on unlock.

[vivid ruin]

This also means that i dont mind doing a 180 on my opinion depending on what will happen with insight gotten in the future.

[vivid cove]

I got 50% more tokens in 1 year because of staking, and i did choose wrong pool and i have now unlocked tokens but will remain staked ofc. i did it for 2 reasons. 1 stay for atleast 1 year anyway. 2 make staking help if the tokens goes lower. Meanwhile i dident think it would go to 1800 and back. But that is crypto.

What i mean is when you do something like a lock it is up to you to take the reward or loss. Not blame the rules afterwards.

[soft peak]

Ever been a discussion in here about transferring staking wallets? My original stake was through a Coinbase wallet and I wanna get the hell out of there

[exotic igloo]

Very well said. I agree.

[elder dawn]

If you're on staking v1, there is no way to transfer at the moment. only option is to wait for the stake to unlock, unstake, transfer, and restake. if only on staking v2, I believe it is possible to transfer to a new wallet that has never interacted with Illuvium staking before. Potentially in the future there will be means of maintaining past staking weight and move V1, but not currently

[soft peak]

Ok thanks mate, will await unlock and hope coinbase isn’t insolvent before then

[warped pulsar]

Been wanting to know about this too. Want to transfer to a fresh wallet. Do we know if revdis will be affected if I transfer and relock? I heard someone mention potential minimum staked for 1 month to receive revdis for example

[elder dawn]

Correct - by unstaking and transferring, you will lose your past weight. Revdis has not yet started, so nothing is lost there yet. To restake, there is a minimum length of 1 month lock

[warped pulsar]

Ok cool thanks. I’m happy to relock for another 12, just don’t want to miss out on revdis if it’s coming 👍🏼

[cyan rampart]

With so much of the supply unlocking relatively soon, I think it's not an optimal time to gauge sentiment about the merits or downsides of mandatory relocking. There's a lot of potential to get dumped on as an investor who locks tokens right now.

I think it will be easier to determine something optimal once sustained revenue is coming in. Until then it seems like decisions that should be crafted around sustained revenue will be difficult to get 100% right.

I do agree that there shouldn't be a mandatory relock, but some small decay after a lock expires wouldn't bother me. Under the current system, it could be something like a decay from 2.0 weight to 1.5 weight over 6 months, and ending at 1.5 weight indefinitely. I do think locking is a great way to show support and encourage new investment. I don't believe the intention of staking was for people to gauge the worth of ILV based on the APR, at least not long term. The intention (from my perspective) is for revenue distribution to be the main course, with YF helping to provide liquidity, improve decentralization and make ILV worth owning pre-launch.

TL;DR: Relocking sucks in the context of decreasing APR from YF, but might look better with sustained revdis flowing - We're more likely to reach concensus among the community on any change to systems related to sustained revdis once people have experienced sustained revdis.

[elder dawn]

Agreed - the key aspect is sustained revdis. The decay is interesting - I'm initially opposed as it makes a difference when you stake, and how quickly adoption/revenue increases. Particularly as YF rewards decay, this actually incentivizes *later *staking to try to time higher revenue. As the ILV pool is under 16% APR in YF, you're not giving up much to NOT stake until revenue begins. To me, this discourages the exact behavior we want as a DAO, but if weight decays over time, this would be the result.

Also, I think there's a psychological element to the terms used currently, and it's a misnomer for people to think they get "double" revdis by locking for a year. Given the significant majority of tokens have been locked for a year, it is better terminology that you receive a "full" share of revdis by locking for a year, and only receive a "half" share by locking for the minimum.

[cyan rampart]

What if the time you'd been in decay for were subtracted from your future lock period? After 6 months in decay, you could 12 month relock with only 6 months actually locked?

Complicated system, but ends up not being as much of a feelsbad for relocking.

[elder dawn]

I'm thinking about it - it really depends HOW lucrative revdis is. The price of giving up the ability to sell is really high. You need to buy that commitment back. The SLP was obvious so far. In the future, that math gets much harder. Especially as revdis is likely to drive of token price, creating a range of effective APR from revenue.

[cyan rampart]

Definitely, if it were coupled with some changes to weight, it could make relocking worthwhile.

Still, I do agree that it's not a great conversation to have YET. While maintaining some amount of the supply locked could be desirable, it could also end up being completely unnecessary.

[elder dawn]

Yep. My mantra is "what problem are you solving?" Lots of hypotheticals right now, no immediate problems being discussed in this topic

[cyan rampart]

What's your ideal Rmin and T btw? I like that the proposal explicitly makes them modifiable values, but I agree that they seem too low currently.

[elder dawn]

I'm playing through scenarios yet. Lelahel is a beast and already built the calculator. I threw out some more extreme values in the discussion just to try to drive the conversation, but debating variables seems less fun than debating completely rehauling revdis design. The best aspect is they are configurable and easily adaptable as we learn more.

[urban elk]

🤌

[left shore]

Love the work ser

[steel pike]

Gm! Sonal from Cube here - I’m trying to get in touch with the admin or someone from the Illuvium team for the staking-related project we are working on. Could anyone please help me get in touch with the admins or team? Thanks a ton!

[final steppe]

Hey Sonal! If you haven't done so yet, please have a look through the #❓〕faq and any potential partnership opportunities can be addressed when filling out the application linked in there 🙂

[dry totem]

When do the land sale proceeds get distributed to stakers?

[tough sonnet]

Do you have any more info on this? The wallet I used to stake ILV was compromised but I still have 5 ILV locked in the stake. Can I transfer the locked v2 stakes to my new wallet?

[last agate]

Hi guys if i stake slp token for a year, any idea approx how many ilv i can get in a month

[thick dirge]

I staked 2.6, I got this after nine days:

0.8 ILV

[brisk surge]

No you didn’t

[gloomy gazelle]

That math does sound fuzzy

[gloomy gazelle]

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

You take the usd value of your deposit and multiply it by the APR. That tells you how much it would make in a year if it doesn’t change. Then divide that by 365 to see how much it makes each day.
Or divide by 12 to estimate how much in a month.

[thick dirge]

I’ve got some SLP tokens staked in the ILV/ETH pool. Where do I look to see how much ETH and ILV I’ve got in there?

Can someone please explain the vesting period to me?

[elder dawn]

If you go to Zerion and enter the token contract (in #🔗〕helpful-links ) you can see the current ratio of ILV and ETH in one SLP. Right now, its 2.718 ILV + 0.401 ETH = 1 SLP. It changes as the prices vary. As for vesting, every time you claim and choose rewards as ILV, they will be staked automatically in the ILV pool and locked for 12 months. You won't be able to withdraw them until the 12 month period ends (you don't have to withdraw then either). This is the "vesting period."

[elder dawn]

FYI, the new staking dashboard does NOT take into account 3% decay. With staking V2, it reverted to instantaneous rewards rate, so my original articles from last August/September are right again. It also means the APR/APY are artificially high. Real APR right now taking into account 3% decay is about 131.7% for the SLP and 11.9% for the ILV (both weight =2). My math, not official. APY uses a very basic monthly claim strategy and the value of compounding. I don't recommend that claiming strategy for many people (NFA).

[balmy copper]

My MM wallet that is staking was compromised and I had to switch my assets to a new wallet. Is there a way I can reconfigure the contract that is staking the ILV to the new MM wallet?

[gloomy gazelle]

I’ve still been copy pasting that old post for months I’ll have to edit it.

[elder dawn]

I appreciate the efficiency

[gloomy gazelle]

Only if you only made a deposit in the v2 contract and never the v1 contract. And not yet.

[balmy copper]

Is the V1 contract the ILV pool and the V2 the ILV/ETH pool?

[gloomy gazelle]

No. V1 contracts were live from before March 2022. Only v2 contracts are running now.

[gloomy gazelle]

If you check your vesting tab you can see if there are any v1 deposits.

It’ll look like this. V1 is the top. V2 is the bottom.

[balmy copper]

Ok, since I have a v2 contract how do I reconfigure the contract to the new MM wallet?

[lost swallow]

These prices make me want to stake more

[gloomy gazelle]

I don’t believe it can be done yet.

[balmy copper]

Ok, thank you.

[golden smelt]

does anyone know, when you claim ILV and its locked for a year, does it automatically get staked and earn the 17% interest or whatever from the normal ILV pool?

[cunning perch]

When you stake and lock in the ILV pool it will receive the APY from the ILV pool. When you claim rewards in form of ILV, they compound in the same pool. (nothing is automatic. you choose everything yourself)

[golden smelt]

I see so whether i claim ILV rewards from the ILV pool or the ILV/ETH pool, that claim gets locked for a year, but those rewards that are claimed start compounding and get added on top of what I have already staked with either pool ya?

[cunning perch]

No. When you claim ILV from whichever pool, it will get locked for one year in the ILV pool, compound and keep on receiving Yield based on the ILV pool APY and of later RevDis

[golden smelt]

Right ok, but in order for the compound to happen i need to claim my rewards

[cunning perch]

Yep.

[golden smelt]

otherwise it just sits there as a reward and doesnt start the unlock timer for that reward, or compound in the ILV APY

[cunning perch]

Yeah if you don't manually claim, they will sit there idle not doing anything and not receiving anything and you can't withdraw them either. They need to vest for one year.

[golden smelt]

ok ty for the explanation! Super helpful

[cunning perch]

[brisk holly]

i'm nearly a total newb when it comes to staking- can i get a quick and dirty explanation of the differences between the ilv staking and the ilv/eth staking?

[final steppe]

Hey JC3-- You'll see the difference in APY% on the website for each pool. ETH/ILV SLP pool will have higher returns since it's considered more risky to go that route. The team also has 80% of the yield farming rewards going to the ETH/ILV pool and 20% going to the ILV core pool.

For the ILV Core Pool, you just stake ILV tokens directly on the Illuvium website.

For the ETH/ILV SLP Pool, you must first provide equal amounts of ETH and ILV (example $1000 ETH + $1000 ILV) to the liquidity pool on Sushiswap which then gives you SLP tokens in return. And then you take those SLP tokens and stake them on the Illuvium website.

It's recommended to read up on "Impermanent Loss" as that is a risk you'll face with providing a pair of tokens to the liquidity pool rather than staking a single token 🙂

[brisk holly]

thanks! just going basic ILV pool. my friend @stuck scaffold is my point of contact and said he does the same

[stuck scaffold]

Ohhhhhh yeah 🙂 bullish as possible on this one

[tawdry drift]

I bought some ILV and looking to stake, but have no experience on how to do it? Any tutorial that can help me out?

[atomic lagoon]

https://www.youtube.com/watch?v=_n-XDMkxYLM&t=18s
this might help. Don't trust DMs. all are scams.

[tawdry drift]

Thanks mate

[dire spire]

Can silv2 be staked?

[brisk surge]

no

[simple arch]

You can add it to the unofficial Uniswap pool. You can choose how much ETH vs sILV2 you add in each side then earn 1% fees on trading

[cinder escarp]

No that is ilv, not silv2

[signal kite]

is there a way to see your staking interest for vesting deposits? i have some illuvium staked, but i dont think iv earned the correct amount. i have 4 ILV staked for 1 year. 2 ILV has only 75 days left. The other 2 staked has 114days left. i have locked them in at around 70% interest, but lets just take it to 60% to be safe. in that time it has only made .92 ILV. my maths isnt that good but i should have atleast earned over 1 ILV by now? Giving that 4 ILV has been staking longer then half a year at a interest of 60%?

[cinder escarp]

Its goes down over time, you can see the current % on the site

[gloomy gazelle]

The APR is not locked. The deposits are Locked. The apr is variable. The apr currently listed IS the rate it’s earning at now.

[short heart]

The tricky thing for shrimp (small) stakers like myself, is waiting for rewards to be big enough to justify gas fees

Not sure your situation, but something to think about

[fading bay]

Guys checking on etherscan I notice an operation under the column to wich doesn’t give me the adress to but just says “illuvium migrate” if I go with the pointer on it then I see the adress… is it normal ?

[gloomy gazelle]

That’s actually what they “named” the wallet in which the v2 ILV deposits and rewards are in.

I guess because we had to migrate form v1 to v2

[torpid venture]

Wen revdis?

[pure eagle]

IIP draft for rev-dis is being discussed as we speak so the best answer to that is...... soon 😉

[abstract salmon]

Hey. So main ilv pool currently at 17% for 1 year term, how can one calculate how much silv2 tokens can I expect montly for staking 10 ilv on 1 year term?

[pure eagle]

Pinned to this channel is a very useful calculator made by a great community member that will help you with that (will direct you to it but I recommend checking pinned messages 📌)
#🥩〕staking message

[carmine badger]

Any advantage for stakers during this bear market? I mean with high selling pressure, i expected the apy to increase instead it has gone down. Whats the incentive to stay during this time?

[gloomy gazelle]

The number of tokens distributed to each staking pool is predetermined. APR trends down because the number of tokens being distributed is reduced by 3% every two weeks.

[carmine badger]

So if it is pre determined, what happens then to the other tokens that should have been for stakers that have unstaked and sold? Thanks for the reply btw.

[gloomy gazelle]

The rewards calculator determines current the usd value of your staked SLP and it determines the total usd value of all the staked SLP (taking into account any multipliers from locking such as 2x for 52 weeks). Then it determines what your percentage of the pool is. Then it distributes to you that percentage of the ILV rewards that are getting paid out during that block to the SLP pool (as part of the 2 week fortnight). The UI then calculates the USD value of the ILV rewards and is then able to display the APR. It’s a bit complex. But there are spreadsheets pinned in here that calculate it all for you.
However, the APR today is not guaranteed to be the same as tomorrow because in reality the value of the ILV tokens and the value of the SLP tokens and the total value in the pool (and therefore your percentage of the pool) WILL change almost constantly. Therefore the APR is variable.

APY is calculated using that same APR but adding what it would earn if compounded by claiming the rewards as ILV. When claimed as ILV those rewards are essentially staked in the ILV only pool and locked for 12 months so they have they full 2x weight. The APR in the ILV only pool does not vary as highly as the SLP pool because the rewards (ILV) are the same as the thing that was deposited (ILV).

[gloomy gazelle]

That long post was something else I was working on updating. But you may like it. But to answer your question… those that remain staked get the rewards.

[gloomy gazelle]

It’s predetermined by POOL not by person (or deposit)

[carmine badger]

Ok. Thanks Pel for clarifying.

[sly pelican]

What’s 1 SLP worth atm in ILV/ETH?

[true seal]

approx something like this

[sly pelican]

Thanks

[late token]

Hello can i ask? What is ropsten network? Because i have transportation in other people on axie

I think i was scam 21$

[abstract salmon]

How safe is ILV/ETH pool at the moment?

Where can I exchange SLP token and for what?

[spring creek]

SLP = ILV + ETH on sushiswap

[abstract salmon]

Yes, I know. But if I type SLP on sushiswap, I only get smooth love potion

[spring creek]

SLP = sushi liquidity pool. You can only sell your SLP by unproviding liquidity and selling the ETH and ILV separately.

Or to create SLP, you need 50% ILV + 50% ETH and provide liquidity in Sushiswap

[abstract salmon]

And where can I check how much SLP is worth?

[pure eagle]

You can copy the SLP contract from #🔗〕helpful-links and look for it on etherscan

[thick dirge]

What were the biggest differences between staking v1 and v2?

[pure eagle]

Gas optimization for claiming rewards and staking, a way better UI......you can read the approved IIP 👇
#📰〕governance-news message

[hot lynx]

• 1

[brisk surge]

So I'm considering buying and staking in the sushi liquidity pool. Do I just go onto an exchange using my metamask? I'm scared.

Is it just a matter of buying a token called an "SLP" or do I need to buy 1 ILV and 1 ETH

Guessing in advance the answer will be: watch this YouTube video. Happy to do so. Any recommendations?

[gloomy gazelle]

!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.

[stark minnow]

#🥩〕staking message

I found these instructions to be very helpful

[fair wharf]

I am looking into getting a ledger hard wallet. Is it possible to stake ILV using ledger? From what I understand, it is possible because it is compatible with metamask, but I just want to make sure. Thanks in advance.
Follow up: Would I have to move all my coins and stakes (as they unlock) from my current metamask wallet over to the hard wallet?

[past glacier]

@fair wharf i had some issues, but in the end I was able to use my ledger with stake

[craggy field]

"Would i have to move everything"

Essentially you are creating a new wallet and connect it to a ledger. So if you are fine with your tokens remaining on your hot wallet then you dont have to do a thing.
Transferring them to a hardware wallet is just safer. Note that it is still a regular wallet but requires you to sign with a hardware device. You can do anything with the ledger-connected wallet that you could do with a metamask wallet. It doesnt impede you, except in the speed at which you can sign transactions (because you have to sign it on your hardware wallet which takes a little bit of time)

[autumn verge]

is there an article that explains how revdis will work? I'm trying to understand how the protocol will buy ILV. Is it overtime from the landsale or all at once?

[cyan rampart]

Check out this document, it's the current proposal for revdis mechanics. #809220563397902346 message

[verbal heron]

Has this Network Error been reported?

[gloomy gazelle]

Yeah. I was also wondering if it actually caused any issues doing staking interactions? It all looked fine to me when I was checking it out. But didn’t run anything.

Other than the error pop up

[verbal heron]

Haven't done any interactions, but for me it doesn't load any Dashboard amounts cause of error

[gloomy gazelle]

Oh yeah. There was that.

[umbral river]

also experiencing that

[gloomy gazelle]

Yeah that warning banner was just rolled out. Nice. CoinGecko is weirding things up I guess.

[open steeple]

what happens at the end of one year staking? does it keeps farming at 2x weight until i withdraw?

[sly pelican]

When are token unlocks by the way? I know they got pushed back till after land sale

[cinder escarp]

30 june

[potent flare]

it keeps getting rewards at 2x for now. However there might be an improvement protocol proposed that could change that so you would need to lock again. However, no such things as of yet

[jolly mortar]

Ive been away for awhile anyone have a few answers for me? whats the rev dev update? and how much rev dev per coin at this stage

[potent flare]

sup

[jolly mortar]

ive just read the latest dev blog but nothing mentioned

[potent flare]

ah, no update on revenue distribution from land sale as of yet. 4k eth has been gathered, as well as like 3% of ILV supply has been burned through silv

so you can calculate 4k eth divide by about 7.5ish mil tokens, and thats what we have per token. the auction for tier 5 has not happened yet

which is supposed to be where the big money will come from

[jolly mortar]

ok thanks for the update i really appreciate it mate

im a long term holder so im not fussed on rev dev atm but i like to know the numbers and %

[cinder escarp]

Its rev dis btw👀

[potent flare]

Its "wen revdis" btw 👀

[scenic viper]

Hi, I have ILV on an exchange, could I be putting it to better use? #new

[gloomy gazelle]

!staking

[woven ibex]

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

• 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.

[gloomy gazelle]

Do NOT trust anyone that sends you a DM. There’s no secret links. No links should be trusted in DMs. Just use #🔗〕helpful-links

[scenic viper]

Thanks frens, does it matter when I start staking?

[gloomy gazelle]

Yeah. But only that it only earns when it’s staked.

[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.

[scenic viper]

So the sooner the better

[gloomy gazelle]

Yeah. But You can usually save gas by doing blockchain interactions on the weekends.

!fees

[knotty river]

Fast: 47 Standard: 46 Slow: 45
Simple ETH TX: $1.18 (0.001 Ξ)
Token Approval (ERC20): $2.84 (0.0024 Ξ)
Token Transfer (ERC20): $2.72 (0.0023 Ξ)
Uniswap Trades: $6.63 - $11.13 (0.0056 Ξ - 0.0094 Ξ)

[scenic viper]

Great. Ty

[gloomy gazelle]

At current gwei I think a deposit would cost like $20.

[scenic viper]

One last thing, is Ledger working with staking or hot wallet only?

[gloomy gazelle]

Actually it may only be $10. https://etherscan.io/tx/0x70bb7f1597045414d25f5e3d97d8a706a57f70357f0cc767beb653e5a41ddac9

[gloomy gazelle]

Ledger can be used. But only using metamask hardware integration. It’s pretty smooth though.

It looks like the staking site is still experiencing some issues from some API data at the moment. Should be fixed soon if it doesn’t work now.

[thick dirge]

Wen staking fix?

[ember ginkgo]

What fix are you talking about

[thick dirge]

I can’t stake atm

[ember ginkgo]

@craggy cliff @worn turtle is there an issue with staking?

[worn turtle]

Yeah it’s being worked on

From yesterday

[thick dirge]

These ILV are feeling restless

[ember ginkgo]

Ah ok my bad, I must have missed that information.

[modern anchor]

Hello community .... I had a problem during the weekend and a claim rewards fail and took my funds, any suggestion ??

[main spruce]

Is there still a problem with staking ?

[thick dirge]

The caution is there, but I have not tried to do it today

[abstract salmon]

So you can get sIlv2 only by staking in the main ILV pool?

[gloomy gazelle]

No. Either eth/ILV pool or the ILV only pool can choose to claim the pending rewards as sILV2. sILV2 is an erc20 token as well. Sometimes there’s a dex pool that a sILV2 whale has made on uniswap or something.

!contract

[woven ibex]

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

[gloomy gazelle]

!claim

[woven ibex]

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

• When you stake ILV yield farming rewards start piling up for you
• You claim those rewards whenever you deem the pile to be big enough to justify gas fees
• If you claim 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.

[abstract salmon]

Can you explain this a little bit more? Are we talking about staking from ledger?

[gloomy gazelle]

Yes. Instead of using a hot wallet like a browser extension or a mobile app. It’s possible to use a hardware wallet to stake with (and do any defi interactions).

Google ledger metamask integration and you’ll find what you’ll need to do staking and such. Don’t trust any DMs. There is no special wallet needed. Celo is a scam. All links in DMs are scams. Mods do not dm first. We and other helpful people are often impersonated.

[abstract salmon]

Ok, thx

[south fable]

When the seed investment unlock, will they be able to put the money into ilv/eth pool? Should we expect a large drop i apy in this pool?

[steady trellis]

Expect the best, plan the worst

[gloomy gazelle]

They will have a little ILV unlocking every day. They could then provide liquidity. They could have eth on the sidelines. Or they could sell half the ILV to pair up.

[full stump]

what is the difference in claimming silv2 or ilv ?

[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.

[full stump]

oh nice a piramid staking with ilv xD

eventually the silv2 will have the same price of ilv or that is just a myth ?

[ember ginkgo]

Inside the illuvium eco-system sILV2 is valued as ILV

[past glacier]

@ember ginkgo actually buy silv2 at 50 now, seems to be nice long term

but next month probabily going a bit down before illuvitars

[near verge]

Hi is it generally better to buy and stake ILV or ETH?
Are staking rewards higher for Eth?

[brisk surge]

You cant stake ETH. You can stake ILV or the ILV/ETH LP token. ILV/ETH has a much higher APY. Around 200% last time I looked.

[near verge]

Ah I think I understand now. Thank you. And to get the ILV/ETH LP token is via sushiswap right?

[brisk surge]

The #❓〕faq should have the links to some articles that explain a little more in depth

[near verge]

Will check it out

[brisk surge]

Let us know if you have any more questions, Always happy to help

You might also wanna check the pins in #💰〕token. Theres a lot of seed tokens unlocking in the next couple months and lots of people are expecting ILV price to dip.
NFA

[near verge]

Hehehe I saw that, that's why I'm planning to get prepared. Cheers again

[gentle star]

Gas is super cheap right now if anyone is looking to claim their rewards. Just claimed mine and gas was $5.

[simple arch]

I think I paid $150 for both at the end of last year 😩

[ember ginkgo]

https://tenor.com/view/aaron-aaron-moment-ariana-grande-i-love-you-aaron-gif-25287260

[gentle star]

That's more than double what my rewards were lol. I'm a small fish, needed super low fees for it to make any sense at all to claim haha

[simple arch]

Yes of course! Crazy ETH fees are ridiculous no matter the size

[drifting fractal]

Hi! If I unstake, does it claim rewards also automatically? Update: the answer is no.

[chrome kelp]

When you stake ILV/ETH does it lock the percentage or will it go down over time?

[ember ginkgo]

It goes down over time

[chrome kelp]

ok thanks, was pretty sure it was a locked rate, thanks for clarifying.

[scenic viper]

Q: I’ve got 65 ILV to stake, don’t need it for 5 years. What’s best staking option, understand NFA

[versed coral]

In my opinion, staking in ILV/ETH pool is the best option, at least for one more year starting from now. I would assume after that the revDis could really kick in so that it could be more appealing to turn the ETH from LP pool to ILV and go full on ILV staking to benefit from revDis. But thats only my personal thinking

[scenic viper]

Thanks, so I’m staking ILV, and getting rewarded in Eth?

[versed coral]

No, you would have to swap half of your ILV to eth so you can provide liquidity on sushiswap. You are staking SLP tokens and receive the 200% apy from the ILV/ETH Pool

[scenic viper]

Ah. Ok thanks for your help

[versed coral]

!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.

[scenic viper]

Is SLP IMX or Ethereum compatible? Last q I promise

In terms of wallet

[versed coral]

SLP consists of ILV and Eth in the same ratio, so it is Ethereum compatible.
You can add the contract address of SLP to see them in your MetaMask for example

[scenic viper]

Thanks again

[cursive yew]

What current events go into revdis? is there anything, besides landsale? :)

[ember ginkgo]

For now only land sale, soon Illuvitar sale, then game launch, merch, ...

[cursive yew]

I see!

Im considering buying myself some juicy ILV and trying to figure out when to buy (upcoming unlocks and such), then if better ILV pool or ilv/eth

[cunning perch]

If only making decisions were that easy 🙂

[cursive yew]

Indeed! So i gather here to gain some Non-financial-information. How you two been?

And the decision to buy ilv got raelly easy with that drop in price haha. -90% DAMN Thats a juicy discount. Cant wait to get home and buy some

I love crypto haha. Staking is such a nice idea too. So satisfying

[cunning perch]

Might be more in, who knows. But it's crypto in general that has been dropping

[cursive yew]

I know, not fudding. I had no tokens so far, so really happy about it. I hope it drops a little more. No doubt longterm it will eat those drops easy.
Crypto in general is a massacre. Difference to ILV is, im suer that ILV will have its place and recover all of it, if they keep going down their patch

[modern anchor]

Hi community .. the problem with the rewards continue ??

[ember ginkgo]

@cunning perch could you have a chat with workyx?

[cunning perch]

Here in general? Just a couple above your PM. not in DMs

@ember ginkgo oh sorry thought you said Lugi. No I haven't talked with anyone names workyx

[ember ginkgo]

I'm asking you too He is having some staking issues 🙂

[modern anchor]

Yes arash a problem with rewards

[cunning perch]

There has been a mention of staking issue, but it is working and not working. Team is working on it.

[modern anchor]

OK

But what happen with the funds ??

[cunning perch]

what do you mean?

[gloomy gazelle]

@modern anchor I started a private thread so we can help you figure stuff out in there.

[modern anchor]

OK

[modern anchor]

That transaction took the funds

[cunning perch]

If you have clicked on a malicious link that is a different scenario. @gloomy gazelle created a Thread and explained it to you.

[thick dirge]

Argh! I want more ILV. I want to stake my ILV (for revdis). But I also want to hold some ETH for illuvitar boxes!

What to do?

[autumn carbon]

hey guys can someone explain me the mechanics at staking?? how many ilv or silv2 can i take for each ilv staked?? and how it’s works the event at day 30 june??

[gloomy gazelle]

!Staking yield is percentage based. The APR on the website shows what 12 months locked would receive at current rates. But the rates are always variable not set.

[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.

[gloomy gazelle]

The rewards calculator determines current the usd value of your staked SLP and it determines the total usd value of all the staked SLP (taking into account any multipliers from locking such as 2x for 52 weeks). Then it determines what your percentage of the pool is. Then it distributes to you that percentage of the ILV rewards that are getting paid out during that block to the SLP pool (as part of the 2 week fortnight). The UI then calculates the USD value of the ILV rewards and is then able to display the APR. It’s a bit complex. But there are spreadsheets pinned in here that calculate it all for you.
However, the APR today is not guaranteed to be the same as tomorrow because in reality the value of the ILV tokens and the value of the SLP tokens and the total value in the pool (and therefore your percentage of the pool) WILL change almost constantly. Therefore the APR is variable.

APY is calculated using that same APR but adding what it would earn if compounded by claiming the rewards as ILV. When claimed as ILV those rewards are essentially staked in the ILV only pool and locked for 12 months so they have they full 2x weight. The APR in the ILV only pool does not vary as highly as the SLP pool because the rewards (ILV) are the same as the thing that was deposited (ILV).

[gloomy gazelle]

You should probably watch a video or read an article like this one #🥩〕staking message

[ruby wharf]

Is the Escrowed illuvium 2 pool on uniswap legit? Any risk of buying that now and waiting to use it 6 months?

[cunning perch]

Nothing about Iluvium on any pool other than Sushi is Legit. Trade at your own discretion. The sILV2 pool on Uniswap is NOT authentic and has been made by random ppl.

[brisk surge]

Yeah just make sure you have the correct contract address found in #🔗〕helpful-links. The main risk is that the pool is community made so the liquidity could be removed and then you wouldnt be able to trade your sILV2. Obviously there can be some price volatility as well but if your plan is just to use it ingame you can get sILV2 right now at a significant discount to its value within Illuvium.

[full stump]

do we have a date to the rev div?

[brisk surge]

The proposal has not yet been approved so totally unknown.

[full stump]

ty

[ruby wharf]

Thanks, yeah I plan on using it in game. Good to know that I may not be able to sell any back so I should only buy what I will use.

[thick dirge]

Any (educated) guesses on what the ILV/ETH staking pool yield will do in the next few months? It’s variable, but will it drop below the 15% of the ILV-only staking?

200% isn’t sustainable for the Illuvium project long term, right? What is the DAO plan?

[true hollow]

I read about impermanent losses when I first invested in ILV so I stayed away from the slp pool. However after being in the crypto space and having a better knowledge on ETH and ILV I see how slp definitely is appealing and more lucrative.

[cyan rampart]

The APR is a derived statistic. There's a number of yield tokens that get distributed each 2 week epoch, 80% of them go to the ILV/ETH pool, 20% go to the ILV only pool. Every 2 weeks, the total number of yield tokens for the epoch decreases by 3%.

The 3M tokens allocated for yield farming will be depleted in June of 2024.

So basically, no, 200% APR isn't "sustainable", but the goal was never to hit and maintain 200% APR. I personally expect unlocks to bring the yield of that pool down (due to additional investment diluting the pool), but how far and how fast remains to be seen.

[gloomy gazelle]

@warped charm this is the #🥩〕staking channel. your transaction probably failed because it ran out of gas. Occasionally the gas limit estimation is too low. Try increasing the gas LIMIT by 10k-50k. But I can’t be certain why it failed unless you want to share the tx. I can setup a private thread if you’d like some privacy. DMs are scams. Do not trust any DMs. There are many imposters.

[warped charm]

Thanks I got this error message 'Warning! Error encountered during contract execution [execution reverted] ' happy to send the transaction ID if you set up a private thread.
the transaction went through and i got charged the $8 worth of eth so i was dubious to try again if it was going to fail again just to take more eth!

[gloomy gazelle]

Hmm I did notice there was a wallet that had a failed transaction a few hours ago that failed for a different reason. It looks like it failed because the tokens were claimed in a different transaction. But I’m not exactly sure what happened. I’ll open a thread.

[cursive yew]

Would someone be so nice and post the current apys for eth/ilv and ilv pool? :)

[ember ginkgo]

ILV Pool: 16.97%
ETH / ILV Pool: 204.04%

[cursive yew]

Ty Fraggy, you the woman

[past glacier]

ILV/ETH worth it? You gonna win SLP, I imagine system consider slp as ILV price, but on secondary SLP is cheapier, Am I Wrong?

[gloomy gazelle]

I think you do not understand what SLP token is being used here. It is NOT smooth love potion. Not at all. It is sushi liquidity provider token.

!contract

[woven ibex]

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

[gloomy gazelle]

The rewards calculator determines current the usd value of your staked SLP and it determines the total usd value of all the staked SLP (taking into account any multipliers from locking such as 2x for 52 weeks). Then it determines what your percentage of the pool is. Then it distributes to you that percentage of the ILV rewards that are getting paid out during that block to the SLP pool (as part of the 2 week fortnight). The UI then calculates the USD value of the ILV rewards and is then able to display the APR. It’s a bit complex. But there are spreadsheets pinned in here that calculate it all for you.
However, the APR today is not guaranteed to be the same as tomorrow because in reality the value of the ILV tokens and the value of the SLP tokens and the total value in the pool (and therefore your percentage of the pool) WILL change almost constantly. Therefore the APR is variable.

APY is calculated using that same APR but adding what it would earn if compounded by claiming the rewards as ILV. When claimed as ILV those rewards are essentially staked in the ILV only pool and locked for 12 months so they have they full 2x weight. The APR in the ILV only pool does not vary as highly as the SLP pool because the rewards (ILV) are the same as the thing that was deposited (ILV).

[dark depot]

I know this is not a financial advice, but curious what you guys would do?

1. I accidentally a year ago staked my 9 ILV and not in the SLP Pool.
2. My Tokens are about to be unlocked
3. Should I unlock it and change half to ETH /ILV to put into SLP pool?
4. I see that the SLP pool is going to end in Jul 2023 and the returns are going to be less and less. would it be worth it to change to SLP pool and stake locked for 1 full year

[dark depot]

How do you calculate the amount of ILV you will get for the $ amount you staked in SLP?

[elder dawn]

See the calculators pinned - Lelahel's is the most updated though mine makes some additional assumptions on how unlock will affect the staking pools. It's complex and depends what people do moving forward, but our calculators should give you a better estimate of what could happen.

[steady trellis]

Ill release a refreshed one tomorrow.

With lot more stuff in it.

Thanks Deraji. You’re the best 🙌🏻 (after fraggy)

[potent flare]

smart man

[ember ginkgo]

What is this bs, Deraji is a lot better than me

[elder dawn]

Meh, Deraji is definitely overrated.

[ember ginkgo]

Same as that Fraggy chick

[glass temple]

wen revdis from land sale?

[cunning perch]

Whenever the IIP gets voted on. For now it's just a draft

[glass temple]

thx for the update

[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.

[steep sorrel]

1 Question Plz but to claim revdis you have to stake and also own a land or just staking you can claim? thx

[gloomy gazelle]

Just stake ILV. In either of the two core pools.

[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.

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.

[low wind]

What is the official staking app?

[brisk surge]

#🔗〕helpful-links

[low wind]

Helpful indeed. Thank you!

[steep sorrel]

ThX a lot

[tawny arrow]

General staking question:
If my ILV/ETH deposit in the staking pool is unlocked, is it still earning rewards? Or do I need to restake it so it's locked again for it to continue earning rewards?

[tulip folio]

Still earns after vesting period/lock is complete.

[muted raft]

wow so if u finished the staking period and u didnt locked and keep the deposit you still earning the rewards?

[timber sequoia]

and the revdis too.... for now....

[cursive yew]

Did you already release it? :)

[steady trellis]

Im too drunk right now, so tomorrow 🤣

[cursive yew]

Aight aight haha

[fading bay]

Guys sorry I just read the announcement for the revenue distribution. I didn’t read anything, can anyone summarize what is the proposal they are voting? Ty

[amber iris]

Uhm, whaaaaaaaaaaaaaattttt the fooooook is this?!!

Bruh, asking to relock = RUG the early stakers. The entire point of locking was not to have to have to relock

Weve all lost literally infinity money already

[ember ginkgo]

It's under discussion, not part of the IIP.

[amber iris]

This is a joke, kill discussion now. Its a rug if you do that. Legit scam. No discussion needed at all

[ember ginkgo]

This is still a DAO, things can change. So yes, there is always a discussion needed.

[amber iris]

Why is this even being considered? Literally a circus 🎪 operation proposal

[amber iris]

No, this cant change. This is a fundamental part of staking and locking for a long period of time. Are you JOKING?

I cant fathom who would put forth a proposal to literally slit the throat of early adopters

[ember ginkgo]

That is your opinion and I thank you for sharing it.

[amber iris]

I lost $250k at the top from being locked. This project is a straight up scam if im being fucking asked to lock up again. Literally burn in hell would be my sentiment

No offense intended but i would seriously consider it borderline criminal fraud

[ember ginkgo]

Please reconsider your language, you don't have to agree but you can still follow the #✍〕rules.

[amber iris]

I dont mean to offend just trying to express the sheer degree of disappointment reading this. I have been in here begging to increase the already paltry rewards, i get literally bullied for even suggesting the notion by mods like you, and now i read someone is discussing rugging early stakers?

Put this entire story with all context on twitter, what % do you think would agree this is a rug

[ember ginkgo]

No need to make it personal. I'm just explaining how things work.

[amber iris]

You guys just made this personal. That's how bad this proposal is. Please literally discard it immediately. I almost want an explanation and apology it was ever humored. It makes me think this is a dictatorship run by 1 person and not a DAO

No sane person could tell me this isn't a straight RUG to those who believed in this project the most. Middle finger

[ember ginkgo]

Once again, the part you are raging about is not a part of the proposal. It's just a topic that should be talked about in the future.

[amber iris]

"% locked up matters as a metric" yeah bro so you and your VC buddies can dump all over us

No. Its a topic that never should be mentioned again. Are you for REAL?

[ember ginkgo]

I don't know any of the VC and I'm not gonna dump on anyone. I suggest you stop taking this out on me.

[amber iris]

Im taking it out on you because you're sitting here with a straight face telling me its not a rug and should be discussed

[ember ginkgo]

All I'm doing is my job and explaining what is in the proposal. Have a nice day.

[amber iris]

This is disgraceful behavior and governance from this project. I expect waaaay better from leadership. 10/10 UNETHICAL. If this industry were better regulated it would be potentially criminal too. You mislead investors to lock up PROMISING REV SHARE. Now you want to reneg on the agreement and force another lock so i can get behind the VCs in line 😂

The value of the time and missed potential opportunity cost of holding is the biggest cost of locking up. Soon as you violate that basic rule, gg. Its a ponzi

[coral pike]

https://tenor.com/view/lets-not-exaggerate-margaret-josephs-real-housewives-of-new-jersey-dont-overreact-dont-exaggerate-gif-16579626

[buoyant lava]

dumb question, after your 12 month lock period is up, does it stay at 2x weighting or do you have to restake another 12?

[amber iris]

Ok, @ember ginkgo why are you removing emojis? This mod is sitting here manually removing harmless emojis every time i post them LOL. Censoring someone you dont agree with?

[amber iris]

Its supposed to stay 2x + rev share forever. See my screenshot above? These people running this project want to rug that and make us re lock for prolly another year

[coral pike]

there is nothing in a dao that's guaranteed for ever unless stipulated by an iip

[ember ginkgo]

Because you are acting disrespectful and immature. Keep popping those clown and poop emoji's. Try voicing your opinion with some respect and read before you react.
I never said I don't agree, I'm just explaining how stuff works.

[amber iris]

@ember ginkgo instead of just leaving the convo because you know you are beat, why not tell me you will forward this up the chain, or put me in touch with someone

[amber iris]

I put a weary face because i was tired of being lied to. You didnt say you dont agree. Lol....

[ember ginkgo]

Since you don't listen to me, go find it yourself. If you ping me again for no reason, you are getting muted.

[coral pike]

@amber iris you comments are not constructive or bases on reality

[buoyant lava]

oh, so it does stay for now, possibly not in the future, alright. But I really think your overreacting, it sorta sucks, but its not a huge deal lmao.

[amber iris]

Are you KIDDING me, THE WHOLE POINT OF STAKING FOR A YEAR IS TO KEEP 2X WEIGHT. ITS A LITERAL RUG IF YOU TAKE THAT AWAY A YEAR LATER

[buoyant lava]

the only thing it affects is you having to pay gas twice right?

[coral pike]

not if the comminiity agrees to it . everything is subject to change

[amber iris]

They are literally trying to reneg on the benefits promised to early investors. Its clear as day, you have to be on some koool aid to defend this

[coral pike]

inncorrect as per above

[amber iris]

This is NUTS. I feel like im in a web 2 corp clown show

[buoyant lava]

you're this mad about $50 in gas every 12 months? I get it, it sucks. But i'm not with you on this one homie.

[amber iris]

The amount of blind support for literally any proposal these guys have. I dont get it. I see so many issues and everything seems to go over your heads

[cunning perch]

It will currently stay at 2X weight even when unlocked.

[coral pike]

perhaps people see more than you. mabey it just you

[buoyant lava]

yeah but even if the change happens, it's just 2 transactions on the eth chain right?

[amber iris]

Bro they want to make you relock. I unlock in a few weeks, i get 2x weight and revdis forever. Now they're telling me, fuck you for locking you have to relock and not be able to touch it for another year! They promised revdis before big token unlocks too and reneged on that

Its such a kick in the balls to me who is just down on the ground already. They want to remove all the benefit for believing in the project early on. Unless youre a VC!

[buoyant lava]

ok yeah I sorta get it

[coral pike]

your statement is illogical if you want 2x revdis forever . why are opposed to relocking?

[amber iris]

Because i did my fucking year and i missed out on 6 figure wealth because of the promise of keeping my weighting forever

[coral pike]

your astill being illogical.

[amber iris]

And its not because of the missing out on gains part. Its because i did my fucking year and want what was promised to me before i signed the fucking contract

[cunning perch]

2 Tx on ETH chain? The relock process is proposed for later