@Announcements
Dear Illuvium Community,
We have important information to share regarding the Staking V2 rewards. We understand transparency is crucial in our journey, so we wanted to address the missing Staking V2 rewards issue and explain what happened and the plan moving forward. Everyone with a stake in V2 staking was affected, and roughly 175k ILV tokens are part of this missing rewards pool. Let's dive into what happened:
Due to contract limitations, each V2 contract had a constant value determining the weight from V1. This had to be updated regularly, but due to security concerns, we had to halt this, and find a permanent solution. We began working on an automated solution, but had to put it on hold after significant changes to our blockchain personnel. This caused these constants to become outdated. The missing core ILV pool rewards are relatively small, but SLP rewards were significantly impacted. These missing rewards have been affecting stakers since approximately 5 months after the release of V2.
We want to assure you that the reward calculations are accurate. We've thoroughly checked wallets to verify user behaviour between wallet moves, staking V1 interactions and some outliers. Additionally, a contract-wide check confirmed the rewards filled the discrepancy gap.
We've worked diligently to fix the missing rewards correctly, and we'll rerun the fix at the end of the staking program to address future missing rewards. This additional fix will have a much smaller impact, as most discrepancies would have been resolved with this first fix.
Note: This deployment has broken a few analytics pieces, which we will get back online shortly, but all staking functionality is operational.
Anyone who staked can claim their missing rewards, regardless of when they withdrew their stake. Stakers have until the end of the year to claim missing rewards from the first fix.
Instructions for Claiming:
- Navigate to https://staking.illuvium.io/rewards/missing
- Connect with any wallet you've staked within V2
- If eligible, you will see ILV rewards available and click 'Claim'
- Approve transaction (Note: Claiming will incur gas fees; if needed, wait for lower network usage times to claim.)
- Rewards can only be claimed in ILV
- Claimed missing rewards will be auto-staked for one year
- Navigate to the Vesting page to find your claimed rewards
Thank you for your understanding, and we're committed to ensuring a smooth, accurate staking experience for all Illuvium stakers moving forward!
The Illuvium Team
