What is ILV used for?

ILV is a pivotal ERC-20 token, seamlessly integrated within the Ethereum blockchain's vast ecosystem. It serves as the cornerstone of the dynamic Illuvium platform, underpinning its foundational structure and functionality.

The token's primary role lies in its governance capabilities, empowering holders to actively shape the future of the Illuvium ecosystem. By harnessing the power of ILV, users can participate in shaping policies and directives that drive the platform's evolution.

One of the most significant aspects of ILV's governance role is its application within the Illuvium DAO Council. This esteemed council comprises members elected by ILV holders, who collectively make crucial decisions that impact the platform's overall direction and growth.

Through the voting process facilitated by ILV, holders can nominate and elect candidates to represent their interests within the DAO Council. This democratic approach ensures that the platform remains accountable to its community, fostering a sense of ownership and trust.

The Illuvium DAO Council's decisions encompass a broad spectrum of activities, ranging from strategic planning and partnerships to the allocation of resources and the implementation of new features. The council's members, guided by the collective wisdom of ILV holders, strive to steer the platform towards sustainable and prosperous growth.