Governance Newsletter - January 2024

Illuvium Main Council (IMC) Review

In January 2024, the Illuvium Main Council (IMC) centred its discussions on incentive initiatives, namely the Illuvium Arena Leaderboard, Content Creator Rewards and Land Holder Rewards. The IMC deliberated on strategies to implement a robust and equitable reward system to bolster player engagement and express appreciation for the community.

The IMC discussed the timing of Illuvium Beyond Wave 3, Land Revenue Share IIP and Beyond Leaderboard IIP. Additionally, the IMC explored the potential for an earlier launch with a Minimum Viable Product (MVP). There was also a discussion about refocusing the target market to cater to the Web3 audience better.

Illuvium Community Council (ICC) Review

Happy New Year! The Illuvium Community Council (ICC) is launching into 2024 with a surge of enthusiasm as we embark on new and exciting initiatives. Our initial discussions focused on innovative strategies to boost Daily Active Users (DAU), including the introduction of the Arena Leaderboard and Content Creator Rewards.

The ICC engaged in several discussions with the Team concerning outstanding tasks in preparation for the Open Beta launch, the technicalities of a token split and the legal aspects of tournaments with entry fees. 

Furthermore, The ICC delved into extensive discussions about the revision of the Land Revenue IIP, the timing of Illuvium Beyond Wave 3, and the Illuvium Beyond Leaderboards proposal.

Proposals Recap

Unfortunately, although there has been a significant amount of discussion, no proposals have been passed during the month of January. This is likely due to the fact that any new changes could derail the game and further delay Open Beta.

Major Governance Discussions

Constant Tournament System

The proposal aims to enhance player retention, boost active player numbers and generate additional revenue for the DAO. In the discussions, the team voiced their concerns about the time it would take to develop the functionality and the legal effort to avoid issues in the future. The ICC has sought legal feedback from the Team regarding the entry fee aspect of the proposal. The Team has suggested that entry fee tournaments, which involve putting down cash upfront and offering the chance to win cash prizes with or without skill, may have a degree of risk of being considered a form of gambling. Some options are available; however, none are quick and easy, especially given the legal discourse that would need to take place.

Proposal for a 100:1 ILV Token Split to Boost Trading Volume and Market Attention

The proposal aims to make the ILV token appear more accessible at a lower price point, increase trading volume and enhance the project’s visibility in the market. The discussion noted the success of the Merit Circle token split and the concept of unit bias. Additionally, a token name change was suggested to reset the chart, which has benefits and disadvantages. The community raised some concerns, including technical implementation, the potential loss of the feature of a low supply token, and questions about development priority.

Recognize Alpha D1sks for what they are - 1st Editions (and not NFTs for whales)

The proposal aims to improve the sales of Alpha D1sks by implementing a 24-hour Alpha D1sk sale where they are offered at the same price as the Standard D1sks and made purchasable in ETH only. The community discussed that there may not be sufficient incentive to demand higher prices for the Alpha D1sks. Although there was much discussion surrounding the potential downsides, the key point of past Alpha sales and deviating too much from that could harm the initial investors. A major focus of this discussion was the disparity of Alpha to non-Alpha D1sks and the intent to keep Alpha Illuvitars as a rare item in each given wave.

Create two separate leaderboards for Illuvium Beyond

This proposal aims to entice new players to engage in Illuvium Beyond by introducing a new leaderboard for the current active wave. The community discussed aspects such as the reward structure of the leaderboards, the mechanism of the leaderboards and the implication of having two separate leaderboards. They also discussed if leaderboards could be added for every Wave, if Set should split them, and what it would mean to be a whale in the Illuvium Beyond ecosystem with these proposed changes.

Free Johnny’s Beyond Card Game Idea

The community brought forward the long-forgotten card game idea that Johnny proposed to the IMC in the prior Epoch in October. The community has voted with overwhelming support to release this pitch to the wider community and allow them to judge the game's merits. This would also help stir excitement for Illuvium Beyond's future and the ways the team views the product and even future games to come to Illuvium.

Helpful Links

• Governance Hub: https://gov.illuvium.io/#/
• Council Chambers: Illuvium Discord Governance