Illuvium: Renewed ILV Staking Rewards, Land Sale Expected Soon

Illuvium was one of the high-expectations projects in play to earn. Now, the game has caused some impatience and questions on upcoming land sales and an eventual launch. 

Illuvium has been stagnant in the past weeks, though sending out hints of designs and reaching out to the community. The most recent call was to content creators, with the goal of a community-generated Illuvial character. 

Calling all Illuvium fans and content creators that want to create their piece of crypto gaming history! Do you have an idea for an Illuvial? Our first-ever video contest is your chance to see a character from your imagination come to life in our game! Entry rules on our Medium! pic.twitter.com/JZTkdXXjIC

— Illuvium (@illuviumio) March 8, 2022

But the Illuvium GameFi and metaverse project has many milestones and challenges ahead. One of the important elements for gamified DeFi is the renewal of ILV staking. 

Staking Rewards Available for Eligible Wallets

After ending staking rewards temporarily, Illuvium promised to bring about Staking V2 with renewed passive income for holding ILV tokens. Illuvium has updated staking, with older token holders invited to claim rewards. 

We are thrilled to announce that sILV2 is now deployed, along with a new contract that allows eligible community members to claim their reimbursements. To learn how to claim, head to article 39 on our official Medium (found on the official Illuvium website) for instructions. pic.twitter.com/YBOhyVFXAt

— Illuvium (@illuviumio) March 3, 2022

However, the wider user base is still cut off from staking, and awaiting a clear instruction for staking 2.0. One of the chief goals of ILV is to achieve passive income, for rather long periods of staking and vesting. Currently, stakers that left their ILV for staking after the snapshot period can claim their sILV2 assets through the official website, by following the list of instructions and connecting their wallet. 

The other milestone elements include land sale, and the long-awaited closed beta and eventual public beta by the end of 2022. Illuvium is set to be one of the most stunning P2E games, based on previews and graphics. Illuvium is already open for registrations for early beta testers since the end of January, though there is yet no date for the launch. 

ILV Recovers Above $500

Illuvium’s token (ILV) is currently trading at $501.69, after briefly sliding under $500. ILV has been falling from levels above $1,300 three months ago, pressured further by the temporary end of staking rewards. 

ILV now hopes to recover, especially after the Illuvium developer team announced they would reimburse anyone who lost funds during the staking smart contract exploit. 

Today everyone who was harmed by the breach of the sILV contract got their sILV back.
A great example of how dedicated the devs are and what respect and gratitude they have towards their community.
A big thank you to @KieranWarwick @VonNeumannILV @aaron_warwick @illuvium $ILV pic.twitter.com/vBbeE75z19

— Dr. Clarence Davis (@drclarencedavis) March 4, 2022

The reimbursement will replace the tokens with a new type of asset, to negate the hacker withdrawals that Illuvium’s team noted at the end of 2021. ILV still trades most actively on the Binance exchange and may hope to improve its prices. Recently, Binance Custody also opened its wallets for ILV among other assets.