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When was the ILV coin issued?

ILV, the native token of the Illuvium ecosystem, was introduced to the market on December 23, 2021, facilitating governance, staking, and in-game currency functionality.

Nov 22, 2024 at 11:30 pm

ILV Coin: Issuance Date and Background

The ILV coin, the native token of the Illuvium protocol, was issued on December 23, 2021. It serves as the backbone of the Illuvium ecosystem, facilitating governance, staking, and in-game currency functions.

Genesis of Illuvium and the ILV Token:

Illuvium, a highly anticipated blockchain-based role-playing game (RPG), combines the excitement of digital monster collecting with the benefits of decentralized finance (DeFi).
The ILV token plays a pivotal role within the Illuvium metaverse, empowering players with control and ownership over their in-game assets.

Key Features and Utilities of ILV:

Governance:
- ILV holders participate in decision-making processes, voting on proposals that shape the future development of the Illuvium ecosystem.
- Through decentralized governance, the community collectively wields influence over game mechanics, tokenomics, and strategic initiatives.
Staking:
- Users can stake their ILV tokens to earn rewards, contributing to the security and stability of the Illuvium network.
- Staking also unlocks exclusive privileges within the game, such as access to rare Illuvials and in-game rewards.
In-Game Currency:
- ILV serves as the primary in-game currency for Illuvium, allowing players to purchase items, upgrade their Illuvials, and engage in various in-game activities.
- Its utilization as a medium of exchange facilitates a robust player-driven economy within the Illuvium metaverse.

Issuance and Distribution of ILV:

Token Distribution:
- The total supply of ILV is capped at 10,000,000 tokens, ensuring its scarcity and value over time.
- Approximately 43% of the ILV supply is allocated to the community through mechanisms such as staking, gameplay rewards, and liquidity provision.
- Strategic investors, advisors, and the team collectively hold 57% of the ILV supply, ensuring long-term alignment and ecosystem sustainability.
Tokenomics:
- ILV's tokenomics are carefully designed to incentivize long-term participation and value growth within the Illuvium ecosystem.
- Regular token burns conducted through in-game mechanics ensure a controlled supply, mitigating inflation and maintaining the ILV's value.
- The distribution of ILV rewards through staking and gameplay encourages active participation and sustainable growth.

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