Illuvium, the first game in development, promises to become the first AAA blockchain-based game, offering high-resolution graphics and captivating gameplay. But how do you use Illuvium (ILV)? Here is a simple guide: The Game ConceptIlluvium is set in a strangely fragmented world, full of mysteries and challenging to traverse. As a hunter, you work with other stranded colonists to unravel the secret of this planet. You hunt and capture the native creatures - divine beings that rule the realm with their elemental powers, to reveal the story of this lost world.The ILV and sILV TokenIlluvium utilizes the Ethereum network and the hyper-scalable ImmutableX Layer Two protocol. $ILV is the token used for governance. Anyone holding the token can vote on proposals to improve the game. Additionally, $ILV token holders can participate in the protocol and receive their share of the gaming revenue - currently set at 100%.sILV is a synthetic ILV token that can be used as an in-game currency. It can be used to purchase upgrades, skins, and emotes and can be earned by staking $ILV tokens in the protocol.Game GovernanceThe game's governance is overseen by the Illuvinati Council, a group of representatives elected by the $ILV token holders. Much of the governance framework was inspired by the Synthetix protocol. $ILV holders can elect council members as delegates and use a quadratic voting process to vote on proposals.

Can You Stake ILV Token?

The Illuvium project allows the staking of ILV directly on their platform. To do this, you must first go to the staking section on the official website and then connect a digital wallet such as MetaMask or Trust Wallet.Illuvium has two primary pools within its protocol. The project’s staking page has a dedicated pool card for each active pool. These cards provide users with valuable details about the respective pool, including the total value of assets deposited in the pool (TVL), the current effective annual interest rate, and the APY value. Users can start the staking process directly on this page.The two main pools, the ILV Pool and the ILV/ETH Pool offer a minimum staking duration of one month and a maximum of twelve months. The rule is that the longer the staking period, the greater the rewards distributed.For each active pool, the Illuvium protocol provides a Pending Rewards Card. Users can choose whether to receive their rewards in sILV2 or ILV. Another convenient option is that users can claim rewards from all active pools simultaneously. So, the choice is yours: claim your rewards in ILV or sILV2.

What Are Illuvium's Tokenomics?

The token economy of the ILV token used on the Illuvium platform is both complex and well-thought-out. It was designed to ensure the stability and growth of the Illuvium ecosystem while providing value and utility to its holders. Here are the main elements of the ILV token economy:Dual Purpose of $ILV Token $ILV serves as a governance token, allowing holders to participate in the decentralized governance of Illuvium and influence the project. Additionally, $ILV is a tradable token that can be bought, held, or exchanged.Pre-Seed and Seed Sale These sales were crucial for funding the growth of Illuvium's main contributors and accelerating project development. Early investors purchased 500,000 ILV tokens for $1 each in the Pre-Seed Sale, while 1,500,000 ILV tokens were distributed for $3 each in the Seed Sale.Balancer Liquidity Bootstrapping Pool (BLBP) This pool was used for the initial public sale of $ILV. By utilizing Balancer's Smart Pools, Illuvium could distribute up to 1,000,000 $ILV tokens without a lock-up period and initially list them for $50 per token.The Treasury The Treasury represents the collective interests and decision-making powers of the token holders. It can initiate and oversee various actions, such as allocating funds to Illuvium Labs for game development.The Vault The Vault acts as a central repository where all game-generated revenues are collected. The ILV tokens purchased in the open market are then distributed among the token holders, ensuring the transparency and fairness of the game's profit distribution.Yield Farming Yield farming is a mechanism to reward staked token holders for their contribution to the Illuvium ecosystem. The rewards that token holders receive are determined by a combination of factors, including the lock-up duration, the number of staked tokens, and the specific pool in which the tokens are staked.Distributions Distributions are the means provided to token holders through the actions of the Vault by converting game-generated revenues into ILV tokens. These distributions ensure token holders are fairly compensated for participating in the game.

How to Buy Illuvium (ILV)

Price of Illuvium (24h)$42.03

0.38%

Real-Time ILV Rate Converter

Interested in buying Illuvium (ILV) or exploring other cryptocurrencies? This is the right place for you! KuCoin offers safe and easy ways to let you buy Illuvium (ILV) instantly wherever you are! Check out all the ways you can buy ILV on KuCoin.

Buy Illuvium (ILV) on KuCoin in Four Simple Steps

Create Your Free KuCoin Account

Sign up on KuCoin with your email address/mobile phone number and country of residence, and create a strong password to secure your account.

Secure Your Account

Ensure stronger protection of your account by setting Google 2FA code, anti-phishing code, and trading password.

Verify Your Account

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Add a Payment Method

Add a credit/debit card or bank account after verifying your KuCoin account.

Buy Illuvium (ILV)

Use a variety of payment options to buy Illuvium on KuCoin. We'll show you how.

Choose How You Want to Buy Illuvium on KuCoin

Buying cryptocurrencies is easy and intuitive on KuCoin. Let's explore the different ways of buying Illuvium (ILV).

Buy Illuvium (ILV) with crypto on the KuCoin Spot Market

With support for 700+ digital assets, the KuCoin spot market is the most popular place to buy Illuvium (ILV). Here's how to buy:

1. Buy stablecoins such as USDT on KuCoin using the Fast Trade service, P2P, or through third-party sellers. Alternatively, transfer your current crypto holdings from another wallet or trading platform to KuCoin. Make sure your blockchain network is correct, since depositing crypto to the wrong address may result in loss of assets.

2. Transfer your crypto to a KuCoin Trading Account. Find your desired Illuvium (ILV) trading pairs in the KuCoin spot market. Place an order to exchange your existing crypto for Illuvium (ILV).

Tip: KuCoin offers a variety of order types to buy Illuvium (ILV) in the spot market, such as market orders for instant purchases and limit orders for buying crypto at a specified price. For more information about order types on KuCoin, click here.

3. As soon as your order is successfully executed, you will be able to see your available Illuvium (ILV) in your Trading Account.

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How to Store Illuvium (ILV)

The best way to store Illuvium (ILV) varies based on your needs and preferences. Review the pros and cons to find the best method of storing Illuvium (ILV).

Store Illuvium in Your KuCoin Account

Holding your crypto in your KuCoin account provides quick access to trading products, such as spot and futures trading, staking, lending, and more. KuCoin serves as the custodian of your crypto assets to help you avoid the hassle of securing your private keys on your own. Make sure to set up a strong password and upgrade your security settings to prevent malicious actors from accessing your funds.

Hold Your Illuvium in Non-Custodial Wallets

"Not your keys, not your coins" is a widely recognized rule in the crypto community. If security is your top concern, you can withdraw your Illuvium (ILV) to a non-custodial wallet. Storing Illuvium (ILV) in a non-custodial or self-custodial wallet grants you complete control over your private keys. You can use any type of wallet, including hardware wallets, Web3 wallets, or paper wallets. Note that this option may be less convenient if you wish to trade your Illuvium (ILV) frequently or put your assets to work. Be sure to store your private keys in a secure location as losing them may result in the permanent loss of your Illuvium (ILV).

What Can You Do with Illuvium (ILV) on KuCoin?

Hold

Store your Illuvium (ILV) in your KuCoin account.

Trade

Trade Illuvium (ILV) in the spot and futures markets.

Earn

Earn passive income by staking or lending Illuvium (ILV).

Why Is KuCoin the Best Platform to Buy Illuvium (ILV)?

Safe and Trusted

Our regular Proof of Reserves (PoR) mechanism ensures that customer funds are backed by 1:1 real assets. KuCoin was named one of the Best Crypto Exchanges by Forbes in 2021 and selected by Ascent as the Best Crypto App in 2022.

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Home of Crypto Gems

KuCoin supports more than 700 cryptocurrencies and is the best place to find the next crypto gem. Buy Illuvium and trade it against various digital assets on KuCoin.

Intuitive Interface

Buying Illuvium (ILV) on KuCoin is quick and easy, thanks to our intuitive interface and powerful technology. Obtain ILV in an instant when you buy on KuCoin.

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FAQ

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Illuvium (ILV) Price Analysis

Live Price

The live price of ILV is 43.05 USD, representing an increase of 9.54% in the past 7 days and 0.38% increase in the past 24 hours.

Historical Trends

The all-time high of ILV was 2,868.946 USD on 05-29, 2021, from which the coin is now down -98.50%.
The all-time low of ILV was 29.76 USD, from which the coin is now up 30.86%.

ATL29.76899135

ATH$ 2,868.94

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Disclaimer

Given the nature of the crypto market, the price of Illuvium (ILV) is subject to high market risk and price volatility. We recommend you invest in digital assets only after you understand how they work and their associated risks. Other factors to consider when devising your crypto investment strategy include your experience level, financial situation, investment objectives, and risk tolerance. You could also consult an independent financial advisor before buying cryptocurrencies. The above information is not financial advice, and past performance is not a reliable indicator of how the market will fare in the future. The value of your investments and assets may rise or fall based on market conditions, and there is no guarantee that you will get back the amount you invest or profit from your investments. Your investment decisions are your sole responsibility, and KuCoin is not responsible for any losses you may incur when you buy crypto on its platform. We rely on third-party sources for price and other data related to the cryptocurrencies listed above, and we are not responsible for its reliability or accuracy. The information is provided to you solely for informational purposes and is not warranted by KuCoin.