Illuvium (ILV)

Illuvium

Type	NFT RPG game
Consensus mechanism	Immutable X
Total supply	10,000,000
Website	https://www.illuvium.io/

From EthHub (4-1-2021):

"Illuvium is a decentralized, NFT collection and auto battler game built on the Ethereum network. Integrated with the hyper-scalable Immutable-X L2 solution, players of Illuvium gain access to zero gas fees for minting or exchanging of assets as well as sub-second transaction times, all with user maintained custody."

Basics

• Started in / Announced on:
• Mainnet release: After several development delays, the Ethereum-based MMORPG finally launched its Overworlds Private Beta on Dec. 12;

"When asked about his plans for Illuvium’s move out of beta, Kieran shared that it would probably take around three months — slating the release of future iterations of the game for early 2023."

• Based in:

History

• Founded by Kain Warwick’s brothers Aaron and Kieran Warwick.
• From Cointelegraph (3-2023):

"Illuvium co-founder Kieran Warwick has been working alongside his brother and Synthetix creator Kain Warwick for quite some time now. Having been exposed to Bitcoin and Ethereum early on, Kieran invested a considerable chunk of his savings in ETH in 2016.

When investing didn’t pan out, Kieran thought he was done with crypto and focused on other endeavors. He joined Blueshyft, where he started the first over-the-counter cryptocurrency exchange and later helped The Burger Collective succeed.

Kieran’s assets took a hit during the height of the COVID-19 pandemic, so Kain encouraged him to dabble in cryptocurrency again — and lent him $100,000 to do so. Kieran started trading right before the bull run and made a lot of money.

Around this time, he discovered NFT gaming and started ideating Illuvium with Kain and two other brothers working in tech, Aaron and Grant. Aaron was a game designer, and Grant was a CGI modeler, so things fell into place for the team."

Audits & Exploits

• Bug bounty program can be found [insert here].
• Illuvium has been audited (3-1-2022).

Bugs/Exploits

• From Blockthreat (4-2-2022):

"On January 3rd, 2022 Illuvium discovered an actively exploited unlimited minting vulnerability which resulted in the loss of $1.25M."

Token

Token allocation

• From their blog (17-2-2021):

1. Pre Seed - 500.000
2. Seed - 1.500.000
3. Team - 1.500.000
4. Treasury - 1.500.000
5. Launchpad - 1.000.000
6. Yield - 4.000.000

Utility

• Governance token (3-1-2022).

Technology

• Whitepaper can be found [insert here].
• Code can be viewed [insert here].

Implementations

• Built on: Ethereum & Immutable-X

How it works

• From Cointelegraph (3-2023):

"Players explore futuristic game environments and capture NFT creatures called “Illuvials.” They can also go on quests, purchase in-game items and trade NFTs. Enhancements, such as using a teleporter or jetpack to move around the sci-fi-inspired metaverse, are set to be added following the Beta launch. Resources for mining and scanning were not available upon launch."

Staking

• From Yield Farmer (3-1-2022):

"Illuvium stakers must vest their rewards for 12 months before they can freely claim them."

• From their blog (17-2-2021):

"All in-game purchases and fees are sent to the Vault. Periodically, the Vault distributes this revenue to staked token holders by purchasing an equivalent value of $ILV automatically from the $ILV/ETH Uniswap V2 pool. Participants in both the $ILV / ETH and $ILV staking pools are given equal weighting for the purposes of Vault distributions."

Liquidity Mining

• From their blog (17-2-2021):

"Yield farming is set to take 3 years with a significant majority of the coins distributed in the first two."

Their Other Projects

IlluviDEX

• From their blog (17-2-2021):

"Exchange Fees and Wagering Fees are generated from every sale on our IlluviDEX at an initial rate of 5% of the total transaction value. In addition to this, the Immutable X platform (IMX) takes a small capped fee of all transactions on their network in exchange for waiving GAS fees. The predominant in-game currency is ETH."

Roadmap

• Can be found [Insert link here].

Team, Funding, Partners

Team

• Full team can be found [here].
• Founded by Kain Warwick’s brothers Aaron and Kieran Warwick.

Funding

• Illuvium raised $72 million in digital land sales (7-6-2022).
• Closed a $5M round with Delphi Digital, Stake Capital, Quantstamp, Bitcoin.com, Jason Choi of Spartan Group and crypto founder personalities Kain Warwick of Synthetix, Stani Kulechov of Aave, Anton Bukov of 1inch, and Santiago Roel Santos of ParaFi. and others (12-3-2021).

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