Illuvium (ILV)

From CryptoWiki

(Redirected from Illuvium)

Illuvium
TypeNFT RPG game
Consensus mechanismImmutable X
Total supply10,000,000
Websitehttps://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

"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

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."

Governance

Admin Keys

DAO

Treasury

Token

Launch

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

Token Details

Stablecoin

Technology

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

Implementations

How it works

"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."

Fees

Upgrades

Staking

"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."

Scaling

Interoperability

Other Details

Oracle Method

Compliance

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].

Usage

Projects that use or built on it

Competition

Pros and Cons

Pros

Cons

Team, Funding, Partners

Team

Funding

Partners

(:

Knowledge empowers all and will help us get closer to the decentralized world we all want to live in!

Making these free wiki pages is fun but takes a lot of effort and time.

If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information.

ETH tip address: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31