Recently, Illuvium has received lots of attention in the crypto space so much that Index Coop (a team that comes up with ETF kinda tokens) added $ILV as the second highest allocation in their Metaverse token $MVI. Screenshot from Index Coop I thought the listing was really interesting so I wanna discuss about $ILV's tokenomics in this post.

What is $ILV token?

• Basically a governance token
• Used for voting proposals
• or put up IIPs (Illuvium Improvement Proposals) and ICCPs (Illuvium Configuration Change Proposals).

What's the difference between the two proposal types?

According to Illuvium docs, IIP is meant for proposing changes to the Illuvium system (new smart contracts, new system, expansions, characters sets etc.) whereas ICCPs is for modifying the system parameters (marketplace fees, capture mechanics, balance changes etc.) It is a lil different from the usual governance we see in DeFi.

Use case for $ILV token: Staking

Screenshot from Illuvium

• Either single-sided or ETH pair are available for staking

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