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.
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.
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.
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.
