Illuvium is an open fantasy battle game developed on the Ethereum blockchain. It is often referred to as the first AAA game on Ethereum. Illuvium offers various collections and trading features for casual gamers and hardcore DeFi enthusiasts.
The world of Illuvium is inhabited by creatures called Illuvials, which can be captured by players who defeat them in battle and then nurse them back to health. From that moment on, they become a loyal part of the player's collection and can be used in battle against other adventurers as part of Illuvium's auto-battle gameplay.
Although Illuvium has blockchain-based elements, it more closely resembles a full-fledged video game. It is accessed through a downloadable desktop app with various supporting DeFi applications, including a yield farm and a decentralized exchange.
Players roam the Illuvium landscape, battling Illuvials and other players, participating in quests and daily challenges, and engaging in their shared stories. Throughout their journey, they collect Illuvials, which vary in rarity, utility, and desirability based on their attributes.
Illuvium is a pioneer in using blockchain technology in the gaming sector. By utilizing $ILV and sILV, Illuvium offers its players a unique opportunity to shape the game while benefiting from the returns actively. It is undoubtedly an exciting project that both gamers and blockchain enthusiasts should keep an eye on.
The Illuvium platform consists of several fully decentralized games. The Illuvium Overworld and Arena use Unreal Engine 5, offering stunning graphics, highly detailed environments, and immersive gameplay. On the other hand, Illuvium Zero was developed with the Unity3D Engine, known for its mobile capabilities and cross-platform support. This allows players to enjoy the game on a variety of devices seamlessly.
The IlluviDex platform is a central database and trading platform where players can exchange Illuvials and other collected items. It contains data on every asset in the game and provides players with easy access to the latest sales, making it an indispensable resource for players who want to learn more about the game mechanics and lore.
A key aspect of Illuvium is the non-fungible tokens (NFTs), which represent unique digital assets that can be owned and traded on the blockchain. Most in-game items in Illuvium are classified as NFTs and can be freely bought, sold, and exchanged among users.
Another revolutionary aspect of Illuvium is the use of NFTs for interoperability. Players can utilize their NFT collections in various games, regardless of the title, genre, or platform. This opens up new possibilities for players and significantly increases the value of their collections.
Since its development in 2020, Illuvium has been built by a global team of over 40 members. Among these were co-founders Kieran Warwick, an experienced entrepreneur and early cryptocurrency adopter, and Aaron Warwick, a skilled game designer. Interestingly, the two brothers have contributed to Illuvium’s growth and success.
They are also the brothers of Kain Warwick, known as the co-founder of the DeFi platform Synthetix. This family background in cryptocurrency and DeFi has undoubtedly contributed to Illuvium’s unique vision and implementation.
Illuvium, the first game in development, promises to become the first AAA blockchain-based game, offering high-resolution graphics and captivating gameplay. But how do you use Illuvium (ILV)? Here is a simple guide:
Illuvium is set in a strangely fragmented world, full of mysteries and challenging to traverse. As a hunter, you work with other stranded colonists to unravel the secret of this planet. You hunt and capture the native creatures - divine beings that rule the realm with their elemental powers, to reveal the story of this lost world.
Illuvium utilizes the Ethereum network and the hyper-scalable ImmutableX Layer Two protocol. $ILV is the token used for governance. Anyone holding the token can vote on proposals to improve the game. Additionally, $ILV token holders can participate in the protocol and receive their share of the gaming revenue - currently set at 100%.
sILV is a synthetic ILV token that can be used as an in-game currency. It can be used to purchase upgrades, skins, and emotes and can be earned by staking $ILV tokens in the protocol.
The game's governance is overseen by the Illuvinati Council, a group of representatives elected by the $ILV token holders. Much of the governance framework was inspired by the Synthetix protocol. $ILV holders can elect council members as delegates and use a quadratic voting process to vote on proposals.
The Illuvium project allows the staking of ILV directly on their platform. To do this, you must first go to the staking section on the official website and then connect a digital wallet such as MetaMask or Trust Wallet.
Illuvium has two primary pools within its protocol. The project’s staking page has a dedicated pool card for each active pool. These cards provide users with valuable details about the respective pool, including the total value of assets deposited in the pool (TVL), the current effective annual interest rate, and the APY value. Users can start the staking process directly on this page.
The two main pools, the ILV Pool and the ILV/ETH Pool offer a minimum staking duration of one month and a maximum of twelve months. The rule is that the longer the staking period, the greater the rewards distributed.
For each active pool, the Illuvium protocol provides a Pending Rewards Card. Users can choose whether to receive their rewards in sILV2 or ILV. Another convenient option is that users can claim rewards from all active pools simultaneously. So, the choice is yours: claim your rewards in ILV or sILV2.
The token economy of the ILV token used on the Illuvium platform is both complex and well-thought-out. It was designed to ensure the stability and growth of the Illuvium ecosystem while providing value and utility to its holders. Here are the main elements of the ILV token economy:
$ILV serves as a governance token, allowing holders to participate in the decentralized governance of Illuvium and influence the project. Additionally, $ILV is a tradable token that can be bought, held, or exchanged.
These sales were crucial for funding the growth of Illuvium's main contributors and accelerating project development. Early investors purchased 500,000 ILV tokens for $1 each in the Pre-Seed Sale, while 1,500,000 ILV tokens were distributed for $3 each in the Seed Sale.
This pool was used for the initial public sale of $ILV. By utilizing Balancer's Smart Pools, Illuvium could distribute up to 1,000,000 $ILV tokens without a lock-up period and initially list them for $50 per token.
The Treasury represents the collective interests and decision-making powers of the token holders. It can initiate and oversee various actions, such as allocating funds to Illuvium Labs for game development.
The Vault acts as a central repository where all game-generated revenues are collected. The ILV tokens purchased in the open market are then distributed among the token holders, ensuring the transparency and fairness of the game's profit distribution.
Yield farming is a mechanism to reward staked token holders for their contribution to the Illuvium ecosystem. The rewards that token holders receive are determined by a combination of factors, including the lock-up duration, the number of staked tokens, and the specific pool in which the tokens are staked.
Distributions are the means provided to token holders through the actions of the Vault by converting game-generated revenues into ILV tokens. These distributions ensure token holders are fairly compensated for participating in the game.