This existing users tutorial video can help transition from Staking V1 to Staking V2 (https://staking.illuvium.io/) in the Illuvium protocol including: Understand Deposit Types, Locked & Unlocked Deposits, Flexible Deposits, Rewards, Transferring Positions, v1 to v2 Migration.
Illuvium: Staking Playlist: https://www.youtube.com/playlist?list=PLTxVFDfpJHrMOZXjJeaLlfcnbyB-LwhxF
In-Depth Article: https://medium.com/illuvium/42-all-you-need-to-know-about-staking-v2-94e77f295ff
Disclaimer: This is not financial advice, and is strictly for educational purposes.
Locked deposits are a deposit that was made with a lock duration, and is still locked. Unlocked deposits are a deposit that was made with a lock duration, but has now unlocked. Flexible deposits are a a deposit that was not made with a lock duration.
If you have locked or unlocked deposits in either the ILV or the ETH/ILV pool, you will need to upgrade the relevant pools to continue to receive rewards in Staking V2. If you are staked in the ILV pool, you will only need to upgrade the ILV pool. To do this click the Upgrade ILV Pool button. If you’re staked in the ILV/ETH pool, you will need to upgrade both pools.
Click the Upgrade ILV/ETH Pool. You may need to execute some confirmations depending on your wallet.
If you have flexible deposits, you will need to withdraw and re-stake to continue receiving rewards. You will be shown a warning notification about this. Also, the banner will contain a button that prompts you to “Migrate Yield and Claim Rewards”. To withdraw navigate to Vesting, and the relevant deposits will be highlighted in red. Select the flexible deposit you would like to withdraw, and click withdraw. You may need to execute some confirmations depending on your wallet.
Once you have completed your withdrawal, you can deposit into either pool by click Pools and then stake into the relevant pool. Please note: Both V2 pools have a minimum lock duration of 1 month.
All of the rewards that are outstanding as a result of the pause in the reward emission in V1 will be claimed when upgrading the ILV pool. When upgrading the pool, you will be shown both the amount of the pending rewards available from before as well as all of the accumulated rewards you are eligible for since the pause period started.
Users can transfer their v2 deposits to new addresses, which can be helpful in situations such as when a personal private key is leaked or anything that could motivate a user to move into a new Ethereum address.. v1 locked positions are still unable to be moved to new addresses.
The transfer wallet feature is restricted to wallets with no v1 staking history for security reasons. Users can create a new wallet to begin staking in v2 if they would like to use this feature.
Exception – If you only deposited into the LP pool in v1, then v2 deposits can be transferred. We will investigate possible future upgrades that could return this feature.
Our engineers removed migration from the contracts due to the added complexity in the v2 rework. Functionally, migration allowed users to pay a fee to transfer unlocked deposits to v2 while keeping their weight. Instead, the new contracts enable users to maintain that weight without doing anything. For smaller stakers, this is a win. For larger stakers, this will probably result in slightly higher gas fees.
We still plan to add migration through a helper contract, but we do not have a fixed timeline. An option for larger stakers is to unstake from v1 and restake in v2. Staking v2 is still far cheaper than v1, however for gas optimization, all deposits should be in v2.
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ABOUT THE GAME
Illuvium is an exploration looter and collectible autobattler game built on the Ethereum Blockchain, releasing on PC and Mac in 2022. Play and earn in a graphically-rich, vividly-realized sci-fi adventure and conquer the wilderness to help your crash-landed colony flourish.
Race across stunning alien landscapes on your quest to uncover the cause of the cataclysm that shattered Illuvium. Hunt and capture Illuvials, powerful creatures who have ruled the land unchallenged until your arrival. Train and fuse your Illuvials into powerful evolutions. Build your ultimate Illuvial team to take into battles and tournaments in PvE and PvP Arenas. Use your creativity to build unique synergies to outsmart your opponents and progress to the top as become the most legendary Ranger on this planet.
Illuvium’s collectible NFT games feature crypto token assets with functionality and a gaming use case, interoperable across the Illuvium universe and the larger DeFi metaverse. The decentralized NFT collection offers players a user-maintained custody never before possible in mainstream gaming.
#ExistingUsers #StakingV2
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Source : https://www.youtube.com/watch?v=rF4jmTGgNdY
