staking$ILV.md 3.0 KB
+++ title = "Staking $ILV" date = "2021-09-11T13:39:46+02:00" tags = ["defi"] categories = ["defi"] banner = "https://zombit.info/wp-content/uploads/2021/04/202104143-720x375.jpg" +++
staking $ILV
$ILV token holders are able to stake their tokens and earn rewards from the network. Getting started is easy. Just have $ILV tokens in your Web 3 wallet, head to our staking website, follow the steps below, and you’ll be staking $ILV immediately to earn tokens or in-game currency.
What is the staking program for $ILV?
100% of in-game revenues are distributed back to stakers in the form of $ILV.
A total of 3 million $ILV tokens will be distributed over a three year period.
$ILV rewards are subject to a 12 month lockup period. sILV can be claimed and used immediately for gameplay.
What is an $ILV token?
$ILV is an ERC-20 token issued to liquidity providers on the $ILV decentralized exchange.
Need to buy $ILV? Go to the Invest tab at illuvium.io to acquire tokens.
What is $ILV Staking?
Staking ILV is relatively easy and requires a compatible Ethereum wallet containing $ILV and $ETH to pay for gas.
To get started, go to the Staking tab at staking.illuvium.io to approve and stake your $ILV tokens.
ILV Staking
Staking ILV tokens is one of the easiest ways to earn passive rewards on the Illuvium platform. As all in-game rewards on Illuvium are distributed in ILV, it is very easy to start earning even more by staking your rewards.
To stake Illuvium tokens, all a player needs is an Ethereum-based wallet with some ILV and ETH in it. Staking transactions require ETH to cover the gas fees. Once there’s ETH in your wallet, you can go to the Illuvium Staking page and follow the steps below.
- Connect your wallet to the Illuvium platform
- Click on “Stake” and browse through the available Core Pools. You have a choice between staking ILV only or staking SLP (ETH/ILV token can be found on Sushi.com)
- Click the “Stake” button next to the pool you’ve chosen
- Next, you have to decide whether you’d like your stake to be flexible or locked. You can easily withdraw flexible stakes, however locked stakes offer multiplier rewards.
- You’ll receive a prompt from your wallet detailing the gas fees for the transaction. If you’re happy, approve it. If not, go back and shift around the numbers until you’re happy.
- After that, players need to choose how they want to receive their staking rewards – in ILV or sILV. ILV rewards have a lock-up period of 12 months, while sILV rewards can be withdrawn immediately and used in-game.
- Finally, check out the “Vesting” tab, where you can see when your rewards will become withdrawable.
That’s it. In several easy steps, you can become an ILV stakeholder, allowing you to further boost the monetary value of your in-game rewards.