Illuvium just launched Staking V2

The new feature promises members a faster, smoother, and cheaper way to stake tokens and claim Rewards

Illuvium just announced that Staking v2 is now live. In the recent tweet of the Illuvium team, the new staking platform will allow players and community members to stake their tokens and claim rewards easily so that whether new to the game or not, you will be able to do it.

Illuvium is a blockchain-enabled play-to-earn game that is built on the Ethereum blockchain. The game allows players to collect NFT creatures which they can use to battle against the world or other players in an open-world environment that gives you a sci-fi adventure feels. The game has been around since last year but it hasn’t been fully launched to the public just yet. 

Players in-game are rewarded with ILV, the main currency of the game which can be used to trade in the game’s marketplace. Players also have the option of staking their ILVs for higher rewards in the long run. 

The Staking v2 platform promises to make the staking process a lot smoother and simpler for old and new players alike by addressing some of the key concerns community members have in the v1 of the platform. The v2 platform promises to give greater rewards for players who choose to stake their tokens, lower gas fees making it cheaper, and a commitment to ensure a more secure platform that people can invest their hard-earned tokens in. 

The platform also boasts a new interface for people to use that is simple to use and more user-friendly. The ultimate goal is to make it easier for players to stake tokens at any time. In their tweet, they said the team believes that players should “benefit from the success of their game.”

In the new v2, players may choose from three deposit types for their staking. There are locked deposits that have a locked duration and cannot be pulled out until the duration passes. Then there are unlocked deposits whose locked duration has passed. Lastly, there are flexible deposits that don’t have locked durations and can be touched at any time.

Members can also choose the type of tokens to stake. They can either stake ILV tokens only in the ILV Pool or stake a combination of ILV and ETH in the ILV/ETH Pool. The rewards members can get is dependent on the type of deposit and which pool you staked your tokens in. 

The Illuvium team provided video tutorials for new players and existing players on how to use the new Staking v2 platform to make it easier for everyone.

For a full and detailed explanation of what to expect on the ILV Staking v2, you may visit the following link here.