Illuvium is a collectible NFT RPG game and auto-battler rolled into one. There is an open-world RPG experience in the overworld, where you mine, harvest, capture, and fight Illuvials.
Once you have assembled your team you can join the fray in the autobattler where you strategically build your teams to beat your opponents in battle. The Illuvials possess unique stats, classes, and affinities. The synergy of your team—based on how you match their strengths and compensate for weaknesses—could mean a winning streak for you.
ILV is the native token of Illuvium game. However, it is not needed for gameplay. ILV is the token associated with Illuvium. ILV is an ERC20 token on the Ethereum blockchain.
ILV has three main functions:
- Governance: Together, we have the power to shape the future of Illuvium through our community collaboration on game improvement proposals as well as electing the initial model of governance, the Illuvinati Council. ILV comprises voting power in the protocol.
- Liquidity Mining: Here, you will gain more ILV (or sILV2). Staking ILV returns yield in the form of ILV, allows you to receive a share of vault distributions.
- Vault Distributions: When you stake ILV, you share in Illuvium's success and earn a passive income of additional ILV, funded through in-game purchases and fees. Vault distributions will only be available from sales and once the game and Illuvidex are launched. 100% of revenue from the game and sales will be shared between ILV stakers.
For further details please read:
- Tokenomics: Tokenomics, Launchpad, and Reward Details
- Staking: Everything you need to know about staking $ILV
- Yield Farm and Revenue Distribution: Governance, Liquidity Mining, and Vault Distribution FAQ
sILV2 token is a synthetic ILV token and can be used as in-game currency for things like travel and shard curing. It can be earned by staking $ILV in the protocol. $sILV2 is pegged to the value of $ILV for in-game spending power. $sILV2 cannot be used in player to player transactions, such as buying/selling Illuvials.
On January 3rd 2022 PT, Illuvium team discovered a vulnerability in their staking contracts, inadvertently allowing an attacker to mint an unlimited amount of $sILV (original synthetic ILV). The executioner DAO (eDAO) put a temporary pause on sILV minting until the release of Staking V2 where the vulnerability has been fixed. At the time, the team believed that they had caught the issue before it could be exploited and that no funds had been compromised. Illuvium team made an announcement about this on Discord and our socials. The IIP related to this can be found here.
On March 4th, 2022, Illuvium announced that sILV2 is deployed on the mainnet.