6. Discord $preILV Air Drop: The Power of An $ILV Token

In less than six weeks, the Illuvium community has grown from a few people to over 4,000 Illuvinati. A diverse group made up of DeFi degens, hardcore gamers and many other groups has formed around the project, significantly exceeding expectations of the early contributors. With development heavily underway, the key priority is to establish a decentralized governance structure in the hands of the Illuvium community to oversee the protocol moving forward.

Whether you’re already an active community member (and future $ILV token holder), or a new-to-crypto gamer just taking an interest in Illuvium, we want to be transparent about how your $ILV will empower you to guide the future of the project.

Our governance model ensures $ILV token holders are able to vote for council members who will act in the best interest of the community. This ensures a balance of influence between all stakeholders and keeps the Illuvium game a collaboration between the developers, the council members, and you the community.

We officially dub the group of elected and trusted community members as the Illuvinati Council.

Read on to find out how Illuvium plans to use the Illuvinati Council to govern and maintain the $ILV protocol.

Discord Airdrop

Any member of the Illuvium Discord has the ability to register for the $preILV Discord Airdrop as long as they have joined prior to (Tuesday 9th February 06:00 2021 UTC time). Registrations will be open for 72 hours and a total of 10,000 $ILV will be distributed.

We are proposing to set up a council to vote on ICCP’s (Illuvium Configuration Change Proposals) and IIP’s (Iluvium Improvement ‘Proposals).

$preILV Token

• The $preILV token will be converted to $ILV once the Balancer Liquidity Bootstrap Pool launches late March.

• $ILV token holders will have the ability to propose both ICCP’s and IIP’s which will be voted on by the Illuvinati Council.

• The core contributors have decided to avoid a Discord vote due to the risk of a Sybil-attack, devaluing the votes of more engaged and committed community members.

Council Vote Election

To elect council members, holders of $preILV have the ability to nominate an individual for a council seat as well as delegate their vote to a nominee. Candidates for council members must be proposed by Friday the 19th of February 2021 9:00 UTC time, followed by a formal voting period that lasts 72 hours to elect the 5 individuals best suited for the role of governing the platform.

The eDAO* will then collate all proposed members from the Illuvium Discord Channel Illuvinati Council*, and prepare the candidates to be voted on within Snapshot.

Be on the lookout for Part 2 of this article 7, which will explain what our ICCP and IIPs are, and how we plan to implement them through governance, as well as details about the voting mechanism.

*(The “eDAO” and “Illuvinati Council” is our initial governance model, and is subject to change. We strive to implement the best models of decentralized and decentralizing governance).

The community is currently made up of early adopters who instinctively understand we are all creating something game-changing, the core contributors are always open to both informal feedback and formal feedback via governance. Join us on the Illuvium Discord to keep up with the leaks, tweaks, and latest announcements — and hear it all first, before anyone else.

https://illuvium.io/

https://twitter.com/illuviumio

Join us: discord.gg/illuvium

Stay tuned for further communications…