ICCP-13

REVISIONS NEEDED

Simple Summary

This ICCP presents a series of enhancements to the Trading Blackout Illuvium Improvement Proposal (IIP-33) concerning trading blackout periods for council members. The proposed changes have the objective of promoting fairness, transparency, and preventing market manipulation within the Illuvium ecosystem. Additionally, these improvements seek to enable council members to actively engage in gameplay during blackout periods without significant limitations or indications to the community that such periods are occurring.

Overview

Council Members delisting assets

Any offers made for blackout-related assets prior to the blackout must remain in effect. This includes offers associated with a council member's trackable history of Dollar Cost Averaging (DCA) strategies, limited to sILV2 and ILV. These changes uphold continuity for pre-existing offers while preventing modifications specifically related to blackout assets.

Duration of the blackout period

To promote a level playing field, the blackout period for council members will be extended for an additional 30 minutes after the release of information to the public. This extended period prevents council members from exploiting immediate market fluctuations that may occur upon public disclosure. Allowing time for market adjustment ensures equal opportunities for all participants to react to newly available information.

Trading limitations during the blackout

During the blackout period, council members will have a maximum total value limit of $500 when buying or selling blackout-related assets. For instance, council members can buy $350 worth and sell $150 worth of a specific in-game asset. Once the limit is reached, they will be restricted from further market interactions with that asset. This approach enables council members to actively engage in the game while preventing them from leveraging unfair market advantages.

Implementation

Communication and Documentation

The updated blackout rules and limitations will be clearly communicated to all council members and documented within the Illuvium governance framework and related materials.

Summary

By enhancing the trading blackout framework for council members, these changes uphold fairness, prevent market manipulation, and reinforce transparency within the Illuvium ecosystem. These improvements align with the Illuvium mission to foster a sustainable and equitable environment for all participants while maintaining the integrity of the DAO and community trust.