What is Illuvium (ILV)? Detailed overview of the project and ILV token

• General overview of Illuvium (ILV)
• What is Illuvium (ILV)?
• Illuvium's outstanding features
• How does Illuvium work?
• Project development team
• Investor of Illuvium
• Illuvium's Partner
• Development roadmap
• General overview of ILV token
• What is ILV token used for?
• Basic information about ILV token
• Allocate ILV tokens
• ILV token release schedule
• Prestigious and safe exchange and wallet for ILV tokens today
• What is the future of lluvium, should I invest in ILV token or not?
• Advantages of Illuvium (ILV)
• Disadvantages of Illuvium (ILV)
• summary

Although it exploded in the uptrend season last year, GameFi is still considered a fertile land with much potential for future development. Including the Illuvium project – a fighting game with a graphical interface that makes gamers flutter. The project was publicized at the time when Bitcoin reached its all-time high and was expected by everyone to be a blockbuster in the DeFi village. So what exactly is Illuvium? Is investing in ILV tokens still “trending” anymore? All will be shared in detail in the article below. 

General overview of Illuvium (ILV)

Below is a basic overview, as well as the operation mechanism of the Illuvium project. 

What is Illuvium (ILV)?

Illuvium is an open fighting game built on the Ethereum blockchain platform. Illuvium is a combination of traditional RPG (role-playing) game platform combined with combat mechanics in the popular Auto Battler game genre.

Besides, Illuvium is also a Play to Earn game, helping users earn extra income from collecting valuable NFTs and rewards when participating in matches. Trading assets in the game is also quite easy because the project has integrated Immutable-X on Layer 2 with extremely low gas fees for users. 

Not only that, the project also optimizes profits for players with DeFi features such as: Providing liquidity, exploiting liquidity, trading in the game's system. 

Illuvium's outstanding features

Let's analyze with TraderH4 in depth the most outstanding features of Illuvium including: Immutable-X (IXM) solution on Layer 2, IlluviDEX, Yield Farming.

Immutable-X (IXM) Solution on Layer 2

Currently, although Ethereum is preparing to turn a new page when preparing The Merge to convert the consensus protocol from PoW to PoS, users still face many difficulties when transacting NFT on Ethereum. Transaction fees are pushed to the top if the network is congested, on average it has to be from 20 USD to 30 USD/transaction. This can be said to be the biggest barrier for developers to access Ethereum. However, integrating Immutable X (IMX) into the platform helps Illuvium solve Ethereum's conundrum with NFTs. Leveraging the power of Immutable X, users of Illuvium will receive the following benefits:

• Maintain management of NFTs
• Transactions are instant, there is no delay, and the results are transferred back to Ethereum (Layer 1).
• Users are not required to have Layer 2 solution tokens in the process of transacting or performing tasks with NFT.
• Supports off-chain minting.

IlluviDEX

IlluviDEX is a decentralized exchange, available on Illuvium. This protocol allows players to easily exchange assets in Illuvium, even NFT. The transaction fee is fixed at 5% and this fee will be used by the project as a reward for those who stake ILV tokens. 

Yield Farming

As mentioned above, Illuvium integrates more DeFi features for users to maximize profits. Specifically, players can participate in Yield Farming (providing liquidity) on the Illuvium platform. According to the plan, the project will use 40% of the total supply, equivalent to about 4 million ILV tokens to use for the Yield Farming program. 

• Using 3D technology with sharp images like movies.
• The project has a pretty clear roadmap.
• Received quite positive support from many well-known investors even before the project was launched.
• Players can not only experience and entertain themselves, but also earn through the game.
• The supply of ILV tokens is limited, so it will increase in value in the long run.

How does Illuvium work?

Illuvium is an open world RPG (role-playing) blockchain game. The player's task is to collect creatures called Illuvial. Each of these creatures has different attributes and systems. A total of 5 systems and attributes with different strengths and weaknesses. The player's Illuvial will become even more powerful if he wins against other players and completes many quests. 

NFT Illuvial and in-game items won by players are easily tradable on IlluviDEX and other NFT exchanges. Besides, users can also stake ILV tokens to mine liquidity, earn more rewards. 

Project development team

Illuvium is appreciated not only for its sharp graphics and many optimized mechanisms, but also because the development team and project support partners are all experienced characters. 

• Kieran Warwick, Co-founder of the Illuvium project. Kieran is a talented and experienced entrepreneur in the blockchain market. Kieran helped The Burger Collective get 100,000 unique reviews and over 20,000 monthly app users. Besides, Kieran Warwick is also an important partner of DoorDash. 
• Aaron Warwick is also an important co-founder of Illuvium. The interesting point is that Aaron Warwick is Kieran Warwick's younger brother. However, unlike his brother, Aaron is the main designer of Illuvium. He studied Computer Engineering and Physics at the University of Wollongong, Australia.
• Nate Wells – a well-known game producer with over 20 years of industry experience. Not only participating in the Illuvium project, Nate is also a game producer on The Last of Us and Rise of the Tomb Raider. At the same time, he is also the president of the Vacationland Novelty Company.
• Basil Gorin - Developer of Illuvium. Basil Gorin is an engineer with a strong understanding of the web, Java, and blockchain technology. 

Investor of Illuvium

In the Seed round, Illuvium raised US$5 million led by Framework Ventures and also received the attention of other large funds such as: IOSG Ventures, LD Capital, Delphi Digital, YBB Foundation Ltd, Stake Capital , Moonwhale Ventures, Lotus Capital, Blocksync Ventures, Bitscale Capital.

Illuvium's Partner

Illuvium's biggest partner is Immutable X, a project that provides Layer 2 solutions, specifically for the NFT market. In addition, Illuvium also receives investment from its own partners such as Chainlink, Quantstamp, Yield Guild Games, Bitcoin.com, and from industry leading developers such as Jason Choi of Spartan Group, Kain Warwick of Synthetix, Stani Aave's Kulechov, 1inch's Anton Bukov and ParaFi's Santiago Roel Santos.

Development roadmap 

Most of the important milestones in the roadmap for the period 2020 - 2023 have been completed. 

• Early prototype game development (completed November 2020)
• Migration to Unreal Engine (completed December 2020)
• Token Smart Contract (completed in February 2021)
• Introducing the first feature film (completed in March 2021)
• Launch of Yield Farm V1 contract (completed in May 2021)
• Auto Battler Trailer (in development)
• Yield Farm V2 Contracts (in development)
• Private Beta – Q1 2022 (completed)
• Public Beta Launch – Q2 2022 (completed)
• Illuvium Zero Edition – Q2 2022 (in development)
• Mobile release – 2023
• Second Major Illuvium Title (updated later)

General overview of ILV token

Here we learn more about the ILV token, the main currency of the game Illuvium.

What is ILV token used for?

ILV is a utility token of the Illuvium platform, developed on the Ethereum platform and used for the following purposes: 

• Use as a means of payment for transaction fees on the platform
• Use to trade NFTs or other in-game items
• Participate in the administration of the Illuvium Council system
• Stake ILV to get rewards

Basic information about ILV token

• Token Name: Illuvium
• Ticker: ILV
• Blockchain: Ethereum
• Token Standard: ERC-20
• Contract: 0x767fe9edc9e0df98e07454847909b5e959d7ca0e
• Token Type: Utility token
• Total Supply: 10,000,000 ILV
• Circulating Supply: 650,861.12 ILV 

Allocate ILV tokens

Illuvium plans to allocate 10 million ILV tokens as follows: 

• Pre Seeds: 5%
• Seeds: 15%
• Team: 15%
• Treasury: 15%
• Launchpad: 10%
• Yield: 40%

ILV token release schedule

All tokens (except tokens distributed via Balancer) will be locked for 12 months and gradually unlocked over the next 12 months. Tokens distributed through the Balancer are not locked, however they can choose to lock in order to get more profit and distribution.

Prestigious and safe exchange and wallet for ILV tokens today

ILV is a token built on the Ethereum platform according to the ERC-20 standard. Therefore, storing this token is extremely easy and there are many options. As follows: 

• Storing directly on the hot wallets of the exchanges that have listed these tokens, such as Binance, KuCoin, Gate.io, etc. Storing on these hot wallets is quite convenient if traders often trade but obviously not guaranteed. maximum safety. 
• Popular ETH wallets such as: Metamask, Myetherwallet, Trust Wallet, Mycrypto...
• Hardware wallets: Ledger or Trezor cold wallet lines.

According to updated information on CoinMarketCap, at the time of writing, there are many famous exchanges in the market that support listing and trading as you can buy ILV tokens on some listed exchanges. such as: SushiSwap, Binance, HitBTC, OKX, KuCoin, Gate.io, TokyoCrypto... The trading pairs with ILV tokens are also quite diverse such as: ILV/USDT , ILV/BUSD , ILV/BTC , ILV/KRW ...

What is the future of lluvium, should I invest in ILV token or not?

It can be seen that the gaming segment combined with NFT has created many names in the typical market in the last uptrend season such as My Neighbor Alice, Axie Infinity... However, now that the school has entered winter, the strength the heat of "the peak has passed". Meanwhile, the project itself also has both advantages and disadvantages that need to be carefully analyzed before spending money as follows: 

 Advantages of Illuvium (ILV)

• Illuvium is a 3D blockchain game with terrible graphics compared to the previous generation. Besides, the project also integrates many unique features to make money, so it can attract and retain gamers. 
• Illuvium is marketed quite successfully. Since its launch, it has received great attention from the community. 
• The next plus point is that the supply of ILV tokens is only 10 million tokens and is limited. Therefore, it is likely that this token will bump when the market recovers. 
• The investment capital for the game is considered to be terrible, the quality makes users satisfied. 
• New Unreal Engine 4 technology, helps players to be immersive and lifelike.

Disadvantages of Illuvium (ILV) 

• In addition to the form, the technological advantages of the project are mostly on paper. It was not until the second quarter of 2022 that the project launched the Beta version while the plan was for the first quarter of 2022.
• Other milestones in the Roadmap also show signs of being behind schedule such as Illuvium Zero, Illuvium Arena, Illuvium Overworld, Illuvitars...
•  Illuvium also has a major drawback, making the game limited to attract players that is to co-own ILV and ETH tokens to be able to play and trade between Illivum with other players. 
• The peak of that project was when Bitcoin reached its all-time high. And now, when the downtrend, the price returns to the level of the beginning of last year when it was launched. People may not be too worried about scams but fear that the Play-to-Earn game trend may be outdated when the market has developed a new trend of Move-to-Earn. 
• There is no mobile application yet, while many competitors already have platforms on both web and mobile to serve players. 

summary

Illuvium is a game that is heavily spent on graphics, helping the project to create a certain resonance and influence in the GameFi community. Besides, the integration of Immutable-X solution and DeFi features are also big plus points, helping players maximize profits. However, the project development team still needs time to complete many of the project's limitations, in order to create a strong foothold in the GameFi niche market. The downtrend season is the season to purge low-quality projects, so you need to do thorough research before making an investment decision. Good luck!

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