Illuvium, one of the promising games for 2022, continues to build its metaverse imagery with a view to launching its open beta in the coming months.
Illuvium recently showcased its battle arena with additional effects, building one of the major features of the game. Illuvium has been building its characters and items while keeping up with its social media community.
Illuvium remains one of the most widely mentioned and anticipated games, with one of the most significant followings on social media. But the market price of ILV continues to fluctuate, struggling to preserve its high valuation.
ILV Token Stops Slide Around $600
ILV is still down more than 60% from its peak, but preserves the $600 valuation over the past week. The low supply of ILV manages to keep the current valuation. ILV is still among top coin by notional value, though still not as prominent as more actively traded tokens.
One of the reasons for the relative inactivity is that ILV still has no additional utility without the launch of the actual game.
ILV may gain some liquidity from a recently proposed Binance exchange passive income scheme. Through Binance Liquid Swap, owners of ILV and either Bitcoin (BTC) or Tether (USDT) can start providing liquidity, while gaining rewards.
Providing liquidity may be risky, but with Binance Liquid Swap, users will make use of a higher-quality pool. The staking mechanism is similar to DEX like PancakeSwap or UniSwap.
The arrival of Binance’s liquidity mining mechanism replaces the currently inactive ILV staking rewards. The Illuvium team has not set a deadline on renewed staking rewards with new liquidity pools.
After an exploit in January, the Illuvium project hired a Solidity auditor to look through the game’s smart contracts. Illuvium has also been the recipient of Discord channel phishing attempts.
Illuvium announced as many as 100,00 applications to its open beta launch, with the game currently in internal beta testing.