Illuvium Coin: My Confidence is Sky High as Unlock Approaches

June 29, 2022

3 minute read

With just 24 hours remaining until the Illuvium coin unlock, there’s a lot of chatter in discord about how to proceed. Everyone has an opinion and rightfully so. It’s a big moment for the project. Let’s take a minute to look back on how we all got to this point.

The team has put in the work

This is exactly what all the long hours were done for. This is why perfecting the game design is so important. It’s time for the product to speak and reflect in the price of the Illuvium coin. I look at what’s been created so far and damn, my confidence is sky high. Illuvium is building an incredible game. The Overworld video was legitimately AAA quality. This team went scorched earth for a year and a half. We are just now starting to see the results. A $72 million successful Land Sale. An autobattler played daily with PB2 on the way. A second Revdis opportunity around the corner with Illuvitars. This game isn’t being built on hype. It’s being built on reality. This team actually delivers. We see it everyday. While many people worry about what comes next, I’m excited. I have full faith in this team and this project.

Free Market Approach

I think approving IIP-23 would be a mistake. Let the free market decide. Changing course at the 11th hour is not the right move. The Illuvium team has worked too hard for too long to hastily approve a new mechanism right before the unlock. This proposal is essentially kicking the can down the road. I would rather rip the band aid off. Illuvium is strong enough to handle it. Not only that, but with every successful sale and every new addition to the game Illuvium will grow. So while yes there may be short term pain in the ILV price, I see it as a major buying opportunity for those with the highest conviction. The people you want holding the tokens the most. I’ll say it once more, let the free market decide.

Continue the discussions

If this proposal is approved essentially you are moving buying pressure from the current ILV pools to this new forge concept due to the discounted rates. This will inevitably drop the ILV prices regardless, it will just be in a more complex system. I believe keeping the current system with its simplicity is much more beneficial than introducing a more complex mechanism. People will be deterred by a second way to purchase the Illuvium coin and many will not do the research necessary to fully understand it. They will take a surface level approach and inevitably pass on ILV all together due to a lack of knowledge and unwillingness to learn. Let’s put our foot on the brakes here and think about how this proposal effects everyone. We can always add it later, but rushing to get this through a day before the unlock comes across as hastily planned and unprepared more than anything else. At this point I think it would be a major step back for ILV. There is more discussion to be had on this topic, in the mean time I feel we should take a wait and see approach and let this play out as originally intended.