This proposal is expected to appear on Snapshot for voting on TBD. Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision.
To pass, this proposal needs a quorum of 35% and 66.7% FOR votes.
TL;DR
- Proposal to whitelist ILV.
- Proposed trading liquidity limit is 100k BNT.
- Token meets published token standards published here: Whitelisting Requirements
- Illuvium game developers include Nate Wells, game producer in Last of Us (7m copies sold) and Tomb Raider (4m) also includes lead animator of Godzilla and others.
- Co-founders are brothers, Aaron, Kieran and Grant Warwick with a background in exchanges, dapps, game development.
- White listing of Illuvium can help the Bancor Network by bringing in trading volume and community awareness from the Illuvium community.
ILV token address: 0x767fe9edc9e0df98e07454847909b5e959d7ca0e
Project Website: https://illuvium.io/
Token Security
Illuvium does not have an elastic supply, or rebase mechanism. The Illuvium contracts do not have permissions that grant administrators unrestricted mint/burn capabilities. The ILV token supply is fixed at 10,000,000, of which 650,861.12 ILV are in current circulation. The contracts and addresses with the highest concentration of tokens are predominantly the token vesting contracts, the Illuvium Core pool contract, the Sushiswap ILV pool contract, Binance, Gate.io, KuCoin, OKEx, Index Coop contract, other staking contracts and a wallet with 0.050% of supply.
Project
Illuvium is an open world narrative driven exploration game. A unique blend of sci-fi and fantasy, you travel from region to region battling and capturing Illuvials, then using them as part of your assembled team. Its gameplay can be best understood by imagining what a Pokemon and Teamfight Tactics hybrid would look like.
But on top of that, the pets that are being collected and trained, will accrue real value. To have instant finality and no GAS fees on gameplay interaction, Illuvium is built on the L2 solution Immutable X. The validators of this network get compensated via a small fee on every transaction on the game, rather than asking users for consent every time.
Team members include co-founders Aaron and Kieran Warwick. There is a background in OTC-exchanges and DEFI-development, as well as game development. They’re well connected since their 3rd brother, Kain Warwick, is the founder of Synthetix (SNX). Game production is being led by Nate Wells, former lead on best-in-class console games Among Us (7m copies sold) and Shadow of Tomb Raider (4m). More than a dozen of the 60 core contributors have worked on AAA titles from the likes of Blizzard, Ubisoft, and Riot Games or blockbuster movies such as the Godzilla, Marvel, and Lord of the Rings franchises.
Tokenomics
Illuvium’s native token, ILV (ERC20), is used for governing Illuvium DAO. The Illuvium Vault contract receives revenue from in-game purchases coming from different sources such as cosmetics, travel, shard curing, crafting, revival and others. 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 Sushiswap pool. Illuvium has a contract called Pool Factory used to deploy and manage yield farming pool contracts. Each pool receives a certain weight, which gives the right to mint ILV yield rewards. ILV rewards obtained through yield farming are escrowed and held by the vault for 12 months. During this time they can’t be withdrawn from the protocol. Instead, stakers can forgo those rewards and claim an equal amount of $sILV (equivalent in value to $ILV) which is minted and transferred to IMX. $sILV is used as an in-game currency, which allows the holder to effectively spend their rewards earlier than the standard 12 month period. All in-game purchases are indexed to USD so a price conversion from $sILV to USD (based on $ILV) is used.
Community and Communication
Illuvium has a thriving, engaged, and fast-growing community on Discord. On Discord, the co-founders, core contributors, and community moderators communicate frequently with the member community. This personalized, genuine, and responsive connection, enhanced by an insider perspective and feeling of access to the creators, has fostered an authentic link with the public. Our commitment to this link builds a healthy culture of transparency and sincerity throughout the DAO.
The official Twitter also has a large following of crypto enthusiasts, gamers, and the emerging cross-section of the two that comprise Illuvium’s target audience. Working in tandem with Discord, Twitter serves as our way of cross-promoting with partner brands, dapps, and platforms, scrolls as a ticker of our latest DAO activity, and is also a secondary outlet of game images and leaks after Discord.
Illuvium has also established a Medium hub, where manual style references, promotional material, and major updates are published and archived. At Illuvium, we make every effort to decentralize. We have brought this same way of thought to our approach to our Medium blog.
Writers who submit content to the Medium publication, whether they are core contributors or guest writers, will retain authorship and ownership of their pieces. They will see their pieces published on our blog, but it will remain their content, to promote under their name, and to further their writing careers and personal bibliographies.
We believe by opening the floor this way, we decentralize yet another key aspect of our endeavor. The new Illuvium hub publication is where our community and the public at large can catch up on news, protocol updates, reveals, and other dispatches from the Illuvium DAO.
Illuvium is aggressively building social media followings on multiple social media channels, in a strategic manner that focuses upon organic growth and leveraging success from one channel into another. We are active on Telegram, and operate official Instagram, LinkedIn, and YouTube accounts.
Illuvium’s commitment to communication is a core ethos. We believe that as a DAO we promote equal stake-hold, equal economic opportunities, and an egalitarian unity in our collaborative, cooperative community. By constantly keeping the line of communication open and reciprocal, we make ourselves trustworthy to our members, who in turn offer their loyalty to our project, our token, and our culture.
Available Audits
ERC-20 Token: https://certificate.quantstamp.com/full/illuvium-erc-20
Token Locking and staking contracts audited here https://certificate.quantstamp.com/full/illuvium-yield-farming-rewards
Market and Trading Data
- Illuvium’s price at the time of writing is $270.49
- All-time high: $2,868.95 (29th May, 2021)
- All-time low: $29.23 (22 Jun, 2021)
- Price 90 days ago: $500.21
- 650,861.12 tokens in circulation
- 10,000,000 maximum supply.
- The current market capitalization is $175,379,055.
- The ILV token is available on, among others, Binance, Kucoin, Okex, Sushiswap, BKEX, MXC and Gate.
- The 24-hour volume is $10,146,093 at time of writing