🥩〕staking

[ornate cypress]

Yes also the ilv eth pool doesn't last forever, the majority of rewards already been paid out.

[shy storm]

Might be more then you are getting in staking rewards 😝

Think you did good, you were there with the first ever land sale, OG. First gen pokemon cards are worth the most for a reason

Maybe you have a missprint on your land also 😅

[copper bone]

When is the next land will be released ??

[candid kettle]

only when there is demand, it will probably take a long time

[noble osprey]

it depends how supply and demand of fuels will work in game

If demand for fuels will be at high level, the next land sale will come earlier than everyone expect, its only my thoughts.

2-4 years maybe

[unborn socket]

Staked $20k worth of $ILV for a year. 8 months in and I get a rev div of .06 cents!!! Chalk this up as a big L.

[copper bone]

Lol that is sucks

[unborn socket]

Uhh yep lol

Called tax loss harvesting!

[candid kettle]

the full distribution of RevDis has not yet been done

[unborn socket]

Glad to hear. Thanks

[upper swan]

at least revdis works, now we just need the rev part

[keen crest]

Settle down lol hasn’t fully been paid out yet.

[ornate loom]

So you staked last December 2021? ILV price was about 1.7K at the start of the month which would give you around 8 ILV, or nearer to 1K at the end of the year which would give you around 19 ILV.

RevDis is low because:

1. Today was just a test of 10 ETH rewards given to all stakers
2. This is only from land sale. Still to come is Illuvitar sale.
3. Full Revdis potential will come when the game is live and millions of people are playing.

[lost trench]

Land is long term. Revdis is good for now but think about 10 years from now when Illuvium is the biggest name in gaming. The largest companies own the T5 land so they can advertise during esports tournaments. The Warwicks have expanded the Illuvium world to far more than what it is now and there is every game imaginable being played and all of them need fuel, which your land provides. So you mine away on it and sell your fuel, getting paid for that as well as the other bonuses that they will come up with over the years for land holders. When you decide to retire someone will want it because there are so few plots available and you will walk away with far, far more than you put in.

Maybe I am a dreamer, but I believe in Illuvium and think the reward potential on land is huge if you are patient.

[peak finch]

hi all. anyone else get this? 2 failed transactions (which i get charged for) trying to claim ILV rewards

ahh....cant paste pictures here

[gloomy gazelle]

I opened a thread for the mods to figure it out. Do NOT trust anyone that sends you a DM about this. There’s often imposters.

[ember ginkgo]

Gn

[drifting fractal]

Great thanks! So total ether amount in land sale was something like 4000eth (2nd hand sale excluded on marketplace). So does that mean that we are getting roughly 400x the amount we have now revdis (since 10eth is only paid)?

and roughly 180eth from land trading volume on immutablex

[shy storm]

would be nice if they would focus also on getting other games to build theirs in the illuvium eco-system

Then the ball could go rolling really fast

Make it easy for other games to adapt the ILV blockchain onto their games and incorporate fuel, skins etc.

[brisk surge]

revdis coming soon. Might be a good time to capitalize on those pending rewards for anyone saving them up.

[lyric needle]

and low gas

[fading bay]

Hi guys: RevDis went live today? where can i find the formula? are they from staking ILV Eth/Ilv or also from landsale ?

[ember ginkgo]

So far 2 buys of 10 ETH have been launched for revdis drom the landsale

[fading bay]

thank you so this 20 eth are going to be splitted among ALL the ILV stakers, right ? i understood that they were waiting for landsale to be completed ( tier 5 as well ) . Ma i wrong or they decided to release some revdis earlier ?

[ember ginkgo]

If you have ILV staked, you can already see it on the staking app. I don't think it was ever mentioned they would wait for the T5 sales

[vast gazelle]

.

[kindred moat]

Since yesterday I can't load my Dashboard/Staking/Reward tabs

it tries to keep loading into infinity

[fading bay]

sorry just for confirmation: i got all the amount of my revdis for the allocation of 20eth ? how many eth have to be allocated total?

[eager ermine]

There is a small bug on the dashboard for staking, when you unstake or remove ILV from the pool it still shows the total number that you have claimed vs number still being staked.

[kindred moat]

Maybe they are updating and this causes temporarily different kind of problems?

[gloomy gazelle]

Have your cleared your browser cache and restarted the browser?

[kindred moat]

Yes

[gloomy gazelle]

What browser and what wallet extension are you using?

[kindred moat]

But it started with suddenly out of nowhere Brave Browser REFUSING to connect via any other wallet to Illuvium Staking than Brave Wallet. Which I don't evne have an acount for. I finally managed to shut that off yesterday. But every other website still accepted Metamask as first choice (swaps and opensea etc.)

So I really think it's a Brave Browser problem... But it's weird everything works perfect except Illuvium.

Also after cache cleared and reset... Yesterday I also got a notification that Illuvium was trying to use the old WEB3 API

(I got that notification in my Metamask but only once)

[gloomy gazelle]

Browser updates can make things wonky. The team is pretty much constantly updating the website. If the problem is still there tomorrow we can ping someone for sure.

[kindred moat]

Thank you! In the meanwhile I'm downloading Chrome again to see if it works there

[eager ermine]

team working on the bug?

[gloomy gazelle]

I don’t think I understand what you mean. I’ll ping you in a thread in a second. You can share a screenshot so the team can be sure they know what’s up.

[fading bay]

Pelican may i ask you a clarification: In my revdis claim window i see i got some revdis to be claimed. These is the allocation i gathered due the ilv in stack i got. But this is the allocation for the first 2 stack of 10 eth right ? How much eth has to be shared total ?

[ember ginkgo]

About 4000

[fading bay]

so 400 times the "10 eth stack" amount. How long does it takes to collect all? how often the "10 eth stack reward" is granted ? daily ?

[ember ginkgo]

Afaik the team won't be sharing any information on this so you can't frontrun

[fading bay]

what do you mean "frontrun" ? I just trying to understand how much i get with my stack from RevDis

[ember ginkgo]

People might buy ILV just before revdis and then dump again because price went up.

[gloomy gazelle]

Yeah. Basically it happens when it happens. The revdis contract operates randomly to buy a little ILV off of sushiswap and then it gets distributed to the stakers.

[fading bay]

i got 2,15 slp staked and 2.22 ilv, i got 3 cent from 20eth share. If i made right the math this amount ( 2.slp paid 5k $ when i staked ) and 2.2 ILV ( only claim in ILv i made since i'm staking ) grant me 6 dollars rougly. I can't see any convenience in buying eth to stake in this moment, am i right?

[eager ermine]

thx, sent

[thick dirge]

Question for someone smart. Some of my ILV unlocks in the next couple days. Will I have to restake right away in order to get the revdis awards?

[candid kettle]

No, just not withdraw and they will be yielding and eligible for RevDis with weight 2

[thick dirge]

Ty

[tiny shale]

do you earn RevDis on your ILV part when staking in the LP ?

[candid kettle]

yes, but APY/APR is not counting RevDis, because you have to claim and stake RevDis, they are not the same as rewards

[tiny shale]

thanks !

[tiny shale]

nothing wrong here, right ?

[candid kettle]

first time?

[tiny shale]

yes

[candid kettle]

so yes this approval is necessary, just make sure you are on the correct site that is no problem

[tiny shale]

https://staking.illuvium.io/staking

is it correct ?

[bright heart]

Check in #🔗〕helpful-links

[hybrid canyon]

Have they distributed the revdis from land (5% from owning land) yet?

[turbid relic]

Don’t think so

[hybrid canyon]

Got it. Thanks 👍

[cyan rampart]

Land doesn't get revdis, it produces fuel, which you sell. Illuvium: Zero isn't live yet, so you can't produce fuel and sell it yet.

Owning a plot doesn't get you 5% of revdis.

[hybrid canyon]

Make sense 👌. Thanks for clarifying 🙏

[eager ermine]

@cyan rampart please DM me ASAP, something quite urgent has come up.

[cyan rampart]

My DMs are open, you're free to DM me if you feel the need. I will never DM you first, beware of scammers.

[eager ermine]

think we got it squared away

[kindred moat]

Fixed it! The problem was that I must allow Metamask to read and edit all sites

[quasi oyster]

Hey guys if im trying to withdraw my unlocked reward can I just do many claim in one transaction or I have to claim every single time im clicking on Withdraw

[cunning perch]

If you have e staked initially on V1, you will be forced to claim rewards.

[quasi oyster]

Eww

[placid veldt]

When I simultaneously claim rewards from both the ILV Pool and the ILV/ETH pool do I have to pay 2 separate transactions ( 1 for each pool) or do I pay 1 transaction for both?

[split mango]

Just one transaction

[placid veldt]

Thank you!

[near plover]

Hi all. I have just noticed my first revdis. Just a few cents, this isnt from the land sale right?

[ember ginkgo]

It's a small part of it to test the system

[near plover]

Thanks man

[fading bay]

Are you sure of this? I think you pay 1 transaction for ilv pool no matter how many different claim you have to do and 1 transaction from the eth/ilv pool

[timid portal]

Hello! Where can I read about the latest rev dis news?

[cunning perch]

There is not any news about it. It's just a test for now.

[gloomy gazelle]

Claiming pending REWARDS can be done for both pools in a single transaction. But withdrawing can be a different story.

[fading bay]

i see if i claim only ILv i pay 1.15 fee, if i claim only Ilv+Eth it cost me 1.15 fee . If i claim both i pay 2.3 fees

[placid veldt]

So, you're saying that even if it is all done simultaneously in one transaction, the fees of each individual claim are added together (you pay both amounts in one shot) ? Is that correct?

[charred mason]

yes that is the how it works, and there be 2 seperate vesting amounts(if taken as ilv)

[placid veldt]

Gotcha. 👍

[gloomy gazelle]

I don’t believe that is how it works. It’s not like the contract is twice as long simply because two things are claimed. But maybe etherscan shows what you describe. I just doubt it very much. Because ALL pending rewards are in the same place and get put in the same place. (They do not exist on the chain yet, not until withdrawn)

[fading bay]

its not etherscan, is the fee that metamask gives me

[gloomy gazelle]

I did just dig into it on etherscan. There are two different functions that can get called. It does look like single pool claims are cheaper. BUT the gas limits aren’t exactly x+y=z. The limits are based on a few other factors like the SIZE of the deposits the number of previous claims. It’s too complicated for me. But it can be cheaper if claiming only from one of the pools. But it’s not guaranteed to be half as much. It is guaranteed to be more efficient to claim both at once than to claim both separately.

[hidden current]

Any idea what caused that big ilv spike earlier?

[brisk surge]

Short liquidations. Nothing special

[hidden current]

Oh ok cheers

[brisk surge]

Looks to me like binance is buying again.

They sent us from $1200 to $1900 last time they started buying so lets see what happens.

[hidden current]

Ooo that’s interesting if that’s the case. Il buy a tiny bit more now and see what happens.

[turbid drift]

Is there no announcement for the first revdis? Also, i have 100 ILV staked and got $0.44 in rewards, does that sound right?🤣

[brisk surge]

So far they have only done 2 test transactions. 20 ETH total so far out of about 4000.

[turbid drift]

Ah okay nice! Thanks. A bit frustrating being tagged in concept art everyday but no up to date announcements about test transactions but yea whatever

[gloomy gazelle]

Probably ETH spike. But maybe there was action in the ILV pool.

[obsidian nebula]

how easy is it to switch staked ilv/slp to a different wallet address?

[candid kettle]

there is no way to move if they are in stake

[obsidian nebula]

really? i remember seeing a ton of comments from both the team and the community saying that if aa wallet is compromised you could switch the wallet address associated with the staked tokens?

there were even conversations when the NFT-ized ILV was in proposal pointing out that staked NFT-ized ILV couldn't be moved to a different wallet like regular ILV could

[candid kettle]

this possibility was posed but not implemented

[obsidian nebula]

ok. thanks

how often is revdis distributed? i remember a year ago it was casually mentioned it would be twice a week at random times. then during these recent proposals, it seemed to point to daily distributions? what's the actual process as of now?

[dark depot]

100 ILV HOLY CRAP WHALE

Guys. I was wondering if you guys have any idea when my tokens unlock from ILV staking should I move them to SLP pool to get ILV rewards quicker? or impermanent loss is not worth it?

[keen ridge]

if they were open about it people would be able to manipulate the revdis

[gloomy gazelle]

Impermanent loss is not an issue until eth and ILV prices move at different rates. You’ve gotta decide what you think will be happening.

I still think this is a very helpful article. #🥩〕staking message

[tacit mesa]

hello, question..

if i decided not to withdraw my unlocked SLP and ILV, will they still continue to generate something out of the pool?

or do i need to restake them?

[gloomy gazelle]

Unlocked tokens remain staked and earning until you withdraw them.

[tacit mesa]

thank youuuu..

[hollow trail]

whale?

Guys, what's this "revenue distribution" thing that appeared out of nowhere?

[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.

[hollow trail]

is that a new "feature"?

[ember ginkgo]

No, been in the tokenomics from the start

[hollow trail]

then why has it appeared only now

[ember ginkgo]

Because there are only now funds in from the landsale

[jaunty cairn]

What is the Vault address to track how much ETH is left in the vault from revdis? I know I have seen it somewhere but can't find it for the life of me

[vivid ruin]

Might be a good idea to add that adres to this bot post

[gleaming needle]

Hi all hope you are well.... just wondering at the moment the apy is about 150% slp... if i was to get in on this and locked for a year would it be locked at that %. for the year...ie if the apy came down to say 125% next month would it change down for me to even though I Staked at an original apy of 150%... sorry I know its a total noob question!... many thanks

[proper prairie]

It will go down

[candid kettle]

Your APY is not fixed at the time of the stake, it varies according to the pool.

[gleaming needle]

Thanks... thought as much...much love brothers

[dark depot]

I decide that Crypto will move together but maybe slightly at a different rate. Illuvium is under Ethereum so chances is that they move closely together,just my guess which is 100% wrong.

[brisk surge]

Guys how much revenue was made in landsale?

[candid kettle]

#📣〕announcements message

[brisk surge]

👍

[tawny arrow]

General Question: If I have ILV/ETH staked that ended the lock period, is it still earning rewards? Or do I have to re-stake and get it locked again in order to earn rewards?

[charred mason]

earns as long you dont remove

[cyan rampart]

Like Corgi said, deposits where the lock period has ended (i.e. unlocked stakes) continue to generate rewards and be eligible for revdis at the weight you originally deposited them at. You do not have to re-stake to be eligible for yield or revdis. If you withdraw an unlocked deposit, it loses the associated weight, you'd have to re-stake at that point to be eligible for yield/revdis.

[brisk surge]

are the rewards counted on the weight and revdis? since I always read it’s compounding daily, does that mean that the (initial deposit + daily rewards) are counted together daily for the next day’s rewards, or is it only the initially locked deposit that is counted for the whole lock period?

[charred mason]

rewards have to be claimed to count. they vest for 1 year in the core pool

[thick dirge]

I’m trying to make an educated guess on my revdis portion. Does anyone know:

1. The amount of existing ILV tokens? Currently between 3 and 4M, right?
2. A good estimate for the average weight of all staked ILV? Probably like 1.8, right? So your 2.0 ILV will only get ~110% of your portion of the revdis?

[gloomy gazelle]

There’s actually like 7.5 million ILV tokens that are eligible for revdis.

Not all have been minted yet (the vesting yield farming rewards). But they would be eligible anyways.

This tool would be useful. #🥩〕staking message

[brisk surge]

i have 0.07 game rev distribution, does anyone know what this is for?

[candid kettle]

small amounts of revdis are being distributed for testing, distribution is not yet complete

[brisk surge]

thought i might be that, thanks

[ashen moth]

CAn anyoen help me understand why the cic supply of ILV went from 723k on July 16th to 690k today?

[brisk surge]

I scrolled and found info for my deleted post 😂 happy to see revdis in action.

[gloomy gazelle]

Sounds like a CoinGecko error.

[obsidian nebula]

not complaining at all, i'm actually excited out of my mind to see RevDis flowing even though it's small amounts right now.

question though, at what interval is it distributed? i know there's a deliberate randomness to RevDis, but what's the general rule......

aka, twice a week? every day?

[past glacier]

well, revdivs comes from incomings, just land sale incoming right now, so no more revdivs while not new incomings...

[brisk surge]

#📰〕governance-news message

[obsidian nebula]

yeah i read through that a number of times. i thought i miss-understood it though. how i understood the proposal is that there will be a distribution every day, but there was no distribution yesterday or the day before. like i said, no complaint, just making sure i understand correctly.

[unborn talon]

Do I need to restake my ILV after the lock period expires?

[charred mason]

no as long as you dont remove it, it will still create rewards

[unborn talon]

That's awesome, thanks for your help

[dark depot]

so once my stake is unlocked it is liquid and still earning rewards. Nice

[storm wolf]

anyone know how many days will the rev distri last for? i think this is happening week by week?

[gloomy gazelle]

I’d have to math a bit. I can’t remember what the number of days it was going to end up being.

[storm wolf]

ok i'm just wondering so far i got some more more rev dis but i seems like bits and pieces

[gloomy gazelle]

Yeah. That’s how it works. Little bits randomly a few times a day. Until it hits the limit each day. Then day after day the same randomness until the vault is empty.

[storm wolf]

yes the question is how do we know that the vault is empty or will there be an annoucement?

[gloomy gazelle]

I can’t imagine there will be an announcement. But here’s the vault address. 0xBc83a1dCc9352F4C9Aa7e9CF5A47e01D369dF87a

[storm wolf]

thx!

[gloomy gazelle]

Did some math. I think it’s 13 days more (15% of the total until it’s less than 500 eth left).

Edit: Oops, I was dumb and originally calculated in USD and just guessed how much 500eth was worth. Just calculated in eth and revised the days.

[gaunt jacinth]

When we claim the revdis, does the ILv automatically stake or we have to stake back ourself?

[ember ginkgo]

Revdis are unlocked ILV so if you want it staked, you'll have to stake it yourself

[gaunt jacinth]

ThNks

[last ember]

Do we know treasury address

[reef cairn]

Stake or buy land

[storm wolf]

Thanks so you are saying 13 more days?

[storm wolf]

Basically when we claim.the rev dis it can be used?

[ember ginkgo]

Yes, revdis are unlocked ILV. Just gotta be sure it's worth the gas cost to claim them

[storm wolf]

Thx. I haven't claimed any. I want to wait until all is distributed first before doing anything

Just not sure when this will happen and not sure how we can know

[ember ginkgo]

I'm not sure but I assume there will be an announcement saying all the land funds have successfully been distributed to the stakers once it's over.

[brisk surge]

do we know what% of the rev dis has been sent out?

[ember ginkgo]

620 ETH has been used so far

[brisk surge]

was it something like 4000. eth in the land sale?

[ember ginkgo]

Yes

[brisk surge]

I had an error claiming staking rewards via mobile today

Can anyone help me understand what went wrong?

I saw illuvizard.eth had a failed one as well on the contract.

[brisk surge]

So, how long before the tax office comes after my revdis as an unregistered security? (I'm in Australia). Kieran mentioned they have a consultant with the ATO now that they're working with. Can anyone point me in the direction of information for my accountant? Cheers!

[potent sable]

Any way to see the revdis contract for my wallet?

[steady trellis]

https://etherscan.io/token/0x767fe9edc9e0df98e07454847909b5e959d7ca0e?a=0x6bd2814426f9a6abaa427d2ad3fc898d2a57adc6

[tall dirge]

If you buy and hold illuvium in a generic wallet, how do you ever receive revdis? isnt revdis divided equally amongst all ilv tokens? A little confused

nvm, you have to stake to receive revdis right... so are tokens in treasury earning?

[brisk surge]

Jesus I get 5 scam dms before anyone real about this. They work hard

[worn turtle]

Dms are always a scam

[faint shadow]

Tax office may want a cut of your income... But they aren't the ones who care about securities law as far as I know

[pure eagle]

RevDis is only given to staked tokens and you recieve them through the staking page. All staked tokens earn RevDis

[gloomy gazelle]

I’m really not sure what went wrong. I was trying to see what else it said on etherscan and I’m not sure. There simply wasn’t much more info there.

[lone vigil]

Hello. Last year I did Stake for 1 year. Expires in August. Do I need to upgrade to V2 or can I wait for the staking lock period to end?

[candid kettle]

must upgrade to V2 to continue earning rewards

[ember ginkgo]

You should have upgraded to v2 a long time ago. You haven't been earning rewards for a while now. Once you upgrade, you'll start earning again

[lone vigil]

I don't think it's worth it for me because of the ETH fee. The fee will be higher than what I will earn. Can I wait for the lock period to withdraw everything? Or am I required to upgrade to V2 to withdraw in August?

I just want to withdraw. I waive the rewards of V2. My question is if I will need to update to withdraw (initial deposit+v1 rewards) after the lockout period is over.

[candid kettle]

@midnight geyser Can you confirm if the withdrawn can be done directly from V1 without upgrading?

[vital kayak]

$50 to claim ILV rewards??? I thought the v2 improved that? 😱

[candid kettle]

last time i paid $2, gas has to help too

[vital kayak]

But yeah he’s right, the gas is still a loss for any staking profit

[vital kayak]

This is ridiculous. I don’t understand why it’s so high still to claim under V2

[ember ginkgo]

Try claiming when gas is 6, not 60

[vital kayak]

Should be $6

[ember ginkgo]

Try claiming when gas is 6, not 40

[vital kayak]

Are you seeing the estimates? Who are those for? Aaron said v2 optimizes, so shouldn’t it be even better than the estimates? Just askin .
I mean im no noob

[devout bobcat]

i think when you claim it does multiple transactions and costs more

[ember ginkgo]

I found a claim at 40 GWEI and it was 0.0059047059933225 Ether($9.15)

Yes, I am seeing the estimates, you just posted them.
Metamask always has higher estimates

[gloomy gazelle]

The claim costs are directly related to what is being done. Claiming from both pools costs more than claiming from one pool. But it costs a little less than two separate transactions

[timber sequoia]

it's not Just a transfert from wallet to wallet... it cost more cause of multi complexity of the smart contract.
Try when gas are low... 40 it pretty high imo. around 20 its OK

[gloomy gazelle]

Additionally, I’m fairly certain that the more claims were made previously creates higher complexity

[vital kayak]

All these remarks don’t reflect our collective experience when emissions resumed post pause, and since then. Is Illuvium single handily affecting gas prices via rev dis?

[median canyon]

V2 is much better for gas. But if you have a v1 unlock that one claim will still be a bit higher.

[vital kayak]

I guess given I’ve paid $200 in gas a year ago, it is still a huge improvement. I just don’t see any big NFT drops goin on that would affect gas, idk. But thank you for replying.

[median canyon]

Dw, I’m negotiating to get you some gas savings. 😉

[vital kayak]

I’m 💯 on V2 btw

[lone vigil]

Depending on how much you earn, it's better buy more ILV with the fee amount 🤷‍♂️

That's what I did

[brisk surge]

Not enough info from my screen or from etherscan? Here's the link. I see other failed tx too on the contract. https://etherscan.io/address/0x63529A232DBCF31af83FD0A26e645CfB4a3D3948

[gloomy gazelle]

On etherscan. (I’d found your wallet already)

There have been similar fails in the past. But I never found any specific reasons or solutions. It seems likely that it’s something wonky that resolves itself. Not helpful, I know.

If you try again and get another failed transaction we can call in the devs and see what needs fixed.

[brisk surge]

Hmm alright. Was hoping id know what I did wrong before I tried again but thems the breaks

[teal stone]

Yo this might be a dumb question idk but is there anyone here that stakes ILV or ILV eth and in case that you do, what periods do you lock for and what are you expecting out of it? c:

[potent flare]

staking both, max lock. expecting more ilv. c:

[worn turtle]

Shabim knows

[teal stone]

@potent flare okay ive never staked before what are the cons and pros, do you keep the value your tokens gain while staked on top of the rewards i mean in my head there must be more cons than only price loss or is it the only risk?

[potent flare]

well, the biggest con is that you are locked, so price can go x5000 and you wont be able to sell

[final steppe]

The ILV pool only requires you to stake ILV tokens. So you'll keep the "quantity" of tokens that are staked in this pool... meaning when you stake 10 ILV, you get all 10 ILV back when you go to withdraw that deposit.

The ETH/ILV requires equal amounts of ETH and ILV tokens from you and has a risk of Impermanent Loss… so the amount of ILV and ETH you get back when you go to withdraw your deposit will vary, depending on how each of the price action of each of those tokens over time. This is why the APY is higher on that pool, and more rewards are earned from staking in that pool.

I recommend reading up on Impermanent loss first before you make your decision so you know what you’re getting into 👍

Ultimately (for many), the goal is to increase your ILV holdings for revenue distributions ⤵️

[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.

[teal stone]

okey I see, so basically the only con is that its difficult to respond to hype and price fluctuations as its locked for said time? or am i riding a bike in the sea so to speak? xD

or well not difficult its impossible lmfao

[final steppe]

Like with any token, the major "con" is that the price can move in any direction, up or down! And yeah, while your deposit is locked, you're not able to capitalize on gains you see during that lock period... nor can you "get out" if you're panicking when the price goes down 😛

All depends on your tolerance for risk and what your plan is with your investments.

[versed coral]

Me personally would stake in the ILV/ ETH Pool but only for around 6 months or so because I suspect the game to launch 🚀 by the beginning of next year so I would like to be able to stake in the ILV pool afterwards to benefit from revDis more.

[teal stone]

yea I was thinking the same but im kinda scared for the bulltrap in eth and btc otherwise that will be the plan since eth is still cheap x)

[teal stone]

btw what is vesting?

[final steppe]

That would be the time you need to wait before you get full ownership/control of your tokens.

So... let's say you have some ILV rewards that you claim. From the moment you process the claim transaction, those ILV rewards then have a vesting period of 12 months where they are locked before you can withdraw them to your wallet.

And during that 12 month vesting period, those ILV rewards are also staked in the ILV Core pool, earning the estimated APR of that pool 🙂

[edgy plank]

For example, I max staked last August when ILV was around $400 or something. It mooned to $1800 and now dropped to $130 and there’s nothing I could do about it. I have scooped up some additional ILV in rewards though and will get some Rev dis when they are awarded so that’s nice. But missed out on making this a free trade by not being able to sell a bit when it was in 4 digits.

[teal stone]

oh okay so rewards isnt trade:able until 12 months after you try to claim?

[teal stone]

ohhh boy that sucks man hate to hear it im sorry for you, I see the risk clearer now thanks for your reply ^^

[final steppe]

If the rewards are claimed in ILV tokens, then yes. 12 months.

There is also the option to claim them as sILV2 which is available in your wallet immediately

sILV2 is a token that can be spent within the ecosystem-- so you can save it for Illuvitar sales, to spend in-game when the games are released, or future land sales. But it cannot be staked or earn revenue distributions

[teal stone]

ahhh okey and i suppose silv2 cant be withdrawed out of the ecosystem as that would make no sense

[final steppe]

Actually, it can! It’s an ERC20 just like any other token. But the sILV2 price is only equal to the ILV price when it’s used within the ecosystem, in those cases I described above.

But you are free to trade it on the open market too. You’ll notice the price will be much lower than ILV though (check it on Uniswap)

[brisk surge]

does claiming work for rev dis and both pools in the same transaction?

[candid kettle]

There is no way to claim revdis along with rewards for now

have to be done separately, but LP pool and ILV pool rewards can be claimed in the same transaction

[potent sable]

This is a genuine question and appreciate all responses. My revdis video from yesterday is performing surprisingly well. Anyone know why?

Its not my best vid

[supple meadow]

Rev dis is a hot subject and you were the only one to cover it

[potent sable]

Appreciate the response. Any other revdis topics you want discussed? I have some pending ethliz stuff and I wanted to talk macro markets. But if there's something else?

[supple meadow]

Do you have a rev dis calculator, I think people want to know what they are going to get. I used the one Deraji made and with the rate that they are giving it out there is no way I'm going to get what his says by the end of this year lol

[potent sable]

End of the year?? We are talking just the land sale revenue. We can't really predict anything else at this stage

For land sale revenue revdis its approx $1 per token

[carmine badger]

Maybe discuss potential speculative cost/price of illuvitar in the future especially if they are adding utilities to it

[potent sable]

I've done this a little bit already but you bet once we get the new pricing proposal this will be the first thing I do

[distant wharf]

For Rev Dis, how do they calculate who gets what? Is it based on the staking at the time the rev is made (like land sale), or when it is distributed (now)?

[ember ginkgo]

I'm not 100% but I think it's when they are distributed. (Maybe @median canyon can confirm? )

[median canyon]

It’s purely ratio of staked tokens.

[ember ginkgo]

Yes but I believe the question is, was there a snapshot taken around the land sale or if you stake now, will you still get from the rest of what is coming?

[teal stone]

waaaaaaaaaaaaaaaaaaat okay then, so sILV2 has different values "ingame" and "outside" the games ecosystem? Having in mind the apy is quite different in the 2 pools, if you would withdraw all your ILV2 and withdraw them do you gain a lot less than claiming ILV even with the apy diff?

[ember ginkgo]

I think you have some things mixed up.

[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.

[thick dirge]

NB: if your revdis ILV is so piddly that it will never justify the gas fee, then do better and stake more ILV. My XX ILV ain’t cutting it.

[gray parrot]

If my tokens are unlocked from a 24 month period, do they still weight 2.0 ?

[ember ginkgo]

I believe max lock atm is 12 months

[pure eagle]

As Fraggs said max lock is 12 months but yes, after your tokens unlock if you don't unstake them they keep their weight

[gray parrot]

I meant 12 sry

[ember ginkgo]

As Master Tholky said, yes you keep your weight as long as you don't withdraw

[gray parrot]

Thank you all for your answers

[median canyon]

It's always been the second one. I'm not sure where the idea of a snapshot came from.

[ember ginkgo]

So we got confirmation, staking at the time of distribution.

[median canyon]

It's ok. You're from the future.

[tight star]

hello. I am trying to do this myself. What do I put in the "_useSILV" field?

[final steppe]

@turbid drift https://etherscan.io/address/0xaa2e727ba59b4fea24d0db4e49a392fdc3e8e778#internaltx
(Responding to your question from #💬〕general -- this is showing RevDis transactions)

[teal stone]

most likely lmfao

[storm wolf]

anyone know whats the timetable for the revdev? i luv seeing my dashboard update with increased revdev number on a few days basis but don't know what is the maximum i will receive. according to scoriox he estimates .8 to $1 dollar per ilv staked. is this what you guys think is the total amount?

[plush valley]

Question about staking period, if I choose 1 month what happens after the locked period, do the tokens remained staked unless I remove them? Or do you have to restake again.

[cunning perch]

They will unlock but remain staked and get Yield and RevDis. If you want more weight, you have to withdraw and restake and lock for longer periods

[plush valley]

Ok great, thanks

[obsidian nebula]

In the future, when the SLP pool rewards are fully distributed and people withdraw their liquidity from SLP, how will the DAO insure liquidity to be able to sell ILV revdis?

I would assume someone would make a 3rd party pool on a dex, but I see problems with price impact if that were the only option

[atomic lance]

after the one year vesting period what happens, are the tokens transferred to the wallet or they remain staked till you unstake them

[pure eagle]

They will remain staked on the same pool with the same weight until you manually unstake them

[atomic lance]

Thank you

[stoic ridge]

for revenue distribution i go to claim it, i select the ILV pool i want to claim from, but no pop up comes in my ledger to actually claim.. is it supposed to work? like I can claim liquid ILV?

basically when i do the "claim" button nothing happens

[candid kettle]

are you trying to claim rewards or revdis?

[stoic ridge]

revdis

when i click claim there, nothing happens on my side

[magic harbor]

Please is there an article on how to withdraw your ilv from vesting when it's ready to be unlocked

[candid kettle]

just select the rewards that can be withdrawn and click on "witdrawn" then pay the gas and they go to your wallet

like this

[magic harbor]

Is that all.. I've done all that it's still not in my wallet

[carmine drum]

whale detected.

[candid kettle]

https://tenor.com/view/rainn-wilson-shh-secret-prank-gif-17131726

[pure eagle]

https://tenor.com/view/illuvium-ilv-illuviumio-whale-yield-farm-gif-22293367

[sharp orchid]

Your photo has some weird RED scribbles... try resending it? Lol 😆

[obsidian nebula]

hey, this is a good question. does anyone know the answer?

In the future, when the SLP pool rewards are fully distributed and people withdraw their liquidity from SLP, how will the DAO insure liquidity to be able to sell ILV revdis?
I would assume someone would make a 3rd party pool on a dex, but I see problems with price impact if that were the only option

[worn turtle]

It’s been addressed before in AMAs that some sort of rewards extension in the future could be implemented from a diff revenue source but nothing concrete yet

We still have time before we gotta decide

[obsidian nebula]

Nice! I must have missed that one. Thanks for the info 👍🏼

[versed coral]

I have just tried claiming my rewards from staking and it failed with the „execution reverted“ error on etherscan. Can anyone help me ?

[bright heart]

Can you link the transaction?

[versed coral]

0x030cdff7f7bed95d577086d834d84603959f5a84a6ec071ec86547376a30b370

[delicate plaza]

Just curious - do you only need to pay one gas transaction for withdrawing all of your unlocked tokens? Even if it is made of multiple different stakes?

[bright heart]

I could not figure out your problem @versed coral . Maybe we have to ping someone more versed in this. <@&937485411922640926>

[versed coral]

I just retried and it worked now. So I am not sure why it failed earlier

[scenic viper]

Good evening, is there a tutorial for staking via a Ledger Nano X, please...

[bright heart]

You can add your ledger to metamask and follow any tutorial from there on.

[scenic viper]

ah, ok - so import the ledger account into MM

[scenic viper]

thanks Ned

Can anyone shed light on the "staking may access and spend up to 1.1ILV"

[bright heart]

It's a general blockchain principle at this point. In order any smart contract to be able to use your tokens(ERC20 tokesn) you need to first do a transaction to approve this.

[scenic viper]

ok, thanks - does it auto stake ALL ILV? or will I get a prompt after signing?

[bright heart]

There will be another transaction after this one, to stake the tokens.

Another thing to note is that, if your ILV limit is just 1.1 after you used it up you'll have to do another approve, what can be done is manually increasing this limit during your approve transaction.

[scenic viper]

thanks ILV Limit was auto generated, i'm staking 135 in total so should I back out now?

[bright heart]

Are you sure it did not generate an amount that matched your current ILV? 135? Or did you have less when you did the approve?

[scenic viper]

This is the first time I'm trying to stake, just moved everything from the exchange to my Ledger - and connected to MM - Clicked on Stake - it prompted with the 1.1 which I approved - now I'm at the Stake ILV screen where I can select duration

My balance shows as 134.692

[bright heart]

Can you send the transaction of the approve?

[scenic viper]

from etherscan?

Spend limit amount
115792089237316195423570985008687907853269984665640564039457.584007913129639935 ILV

is that enough info? just looking in MM

I'm guessing I just read the summary wrong in the initial approval...

[bright heart]

This seems more reasonable. You can consider this "Infinite". But it's not 1.1 🙂

[scenic viper]

yeah, thanks again Ned

do i really only get 16% vs 159%?

[bright heart]

Yes you do, but you'll be on the good side when revdis becomes more prevelant. Because SLP pool has only 50% ILV in it.

[scenic viper]

Am I in time for that?

[bright heart]

You'll probably get some even today 🙂

[scenic viper]

Ok, much appreciated Ned

If you lived in Aus I’d buy you a beer

[bright heart]

Far away, maybe we'll cross paths in the metaverse 🙂

[scenic viper]

Look forward to it

[boreal cape]

guys it's been a long time since i tried to stake, need some help, hehe

is this the right link for swapping eth to ilv? https://app.sushi.com/swap?chainId=1&inputCurrency=ETH&outputCurrency=0x767FE9EDC9E0dF98E07454847909b5E959D7ca0E

and is this the right one for making an SLP? https://app.sushi.com/legacy/add/ETH/0x767FE9EDC9E0dF98E07454847909b5E959D7ca0E?chainId=1

[cunning perch]

You can use the link in #🔗〕helpful-links to be sure. There is a Swap button where you change tokens to one another and there is liquidity ==> Add button that adds liquidity (for SLP)

[silent cedar]

Gonna get some cheap eth and pay cheap gas to claim ILV. Go bears!

[candid kettle]

Yes, Just one transaction

[delicate plaza]

Thanks! Good to know

[brisk surge]

just wondering if anyone would know why my claiming of staking is failing? getting the following on eth scan
(Illuvium: Migrate)
Warning! Error encountered during contract execution [execution reverted]

have tried twice both times the same result with fees being charged

[keen lance]

@candid kettle Gm ser, what date did people start receiving the resdivs?

[candid kettle]

This usually happens because the transaction spent a lot of time on hold (gas too low), a swap that is too large in relation to the total pool or when the market is very volatile and its slippage is small, as it is a claim operation, it is probably due to because of the gas too low, did you try to increase it?

[brisk surge]

yes i tried on high and it went through almost 100% very quick

[candid kettle]

revdis is already being distributed, it's being done little by little it hasn't been complete yet.

[storm wolf]

How much percent has been sent out ofvthe total rev dis?

[thick dirge]

Based on my guesses, we’re at 33%?

[steady trellis]

Half

[devout bobcat]

afaik right now ~1400/4000 eth have been used to buy ilv

[steady trellis]

1800/4000 = half + 5%

[candid kettle]

https://tenor.com/view/illuvium-ilv-gif-22175171

[grizzled kindle]

I've got some withdrawn SLP tokens and I'm wondering how to swap them back to the original eth and ilv tokens? Anywhere I can find out how

[bright heart]

You need to go back to sushiswap and remove your liquidity.

[cunning perch]

Sushi ==> Liquidity ==> add ==> change "add" to "remove" in the URL bar ==> remove liquidity

[grizzled kindle]

Cheers thanks boss

[storm wolf]

Really ok thx bro

Sounds like this rev dis isn't too much. Hopefully the illuvitar rev dis will be much more

[thick dirge]

Scoriox has a new video on YT

[storm wolf]

Thx. Looks great to see to rewards though

[thick dirge]

yeah I think it hurt bc so much sILV2 was used for the land

So the dollar amount of the revenue seemed high, but the revdis was lower?

[tulip folio]

correct, but 3% of all ILV was permanently removed from circulation.

[trail river]

Yep. But sILV will also be able to be used for the YT. So I don't expect that all YT sales will be converted to redvis

[thick dirge]

YT?

[thick dirge]

And why is that?

Because all sILV2 is essentially an earned ILV token that is instead claimed as sILV2? (Ostensibly to get immediate access to their rewards instead of waiting 12 months?) So once it is USED in-game, then an ILV is burned?

[cyan rampart]

sILV2 and ILV rewards are derived from the same supply (the 3M yield rewards supply, specifically).

When sILV2 or ILV is minted, it decrements the total rewards supply. So it's not a direct burn, sILV2 that is minted just prevents ILV from ever being minted.

[cyan rampart]

Strictly speaking, 3% of the total maximum supply of ILV wasn't removed from circulation, it was just prevented from ever entering circulation xD

[obsidian nebula]

where am i doing my math wrong? as i understand it, SLP rewards can be caculated by

MY VALUE IN SLP POOL x CURRENT APR / current ILV price. then devide that by 365 to get the daily reward. but when i do that it shows my current daily reward at about 8% less than what the math says. am i messing up the math somewhere?

[queen mortar]

I've bought more ILV which I want to stake. I already have some ILV v1 pool staked. Should I withdraw this amount and restake the full amount including the new ILV i've bought or should I leave that and just stake new amount?

[obsidian nebula]

that's up to you. you don't need to but you can. the advantage is slightly lower gas on v2 for claiming, only real disadvantage is the extra gas to go through the re-staking process. personally, i have multiple stakes in both v1 and v2.

[candid kettle]

answered in #❓❗〕community-help 😁

[proven timber]

I have ILV pending as a reward from staking in the liquidity pool. Will the ILV i have earned but not claimed yet ,count towards REV DIV, or do I have to claim it ?

[brazen egret]

So excited... in 3 hours time it is exactly 1 year since I first staked in the ILV pool. Crazy how much has changed in 1 year

[versed coral]

You have to claim it so it gets vested for 12 months, only then it is eligible for revDis

[candid kettle]

Only start yielding and elegible for revdis after claim

[hot lynx]

Me too next week

[hot lynx]

SLP prints RevDis claim , no claim , Np