Illuvium Council nominations are now open to voters for Epoch Seven.
Epoch Seven will function differently from previous eras, as Illuvium will have a 72-hour voting window followed by a campaigning period. All $ILV holders can nominate candidates and vote in the election to choose the next five Council members of the new Epoch.Â
The voting period started Tuesday, November 8, 2022, at 11:00 PM (CET) and concludes on Tuesday, November 15, 2022, at 11:00 PM (CET).
What Is The Illuvium Council?
Illuvium's development direction is governed in no small part by the Illuvium Council. If you want to have a direct impact on how Illuvium is being created and to influence its direction, the Council Election is something you won't want to ignore.đź’Ą
— Illuvium (@illuviumio) November 8, 2022
The Illuvium Council is a decentralized governance structure that the Illuvium community oversees and decides the platform’s protocol moving forward.
The governance model ensures that $ILV token holders can vote for council members who will act in the Community’s best interest. Then Illuvium founders hope to create a balance of influence between all stakeholders and keep the Illuvium game a collaboration between the developers, the council members, and the Community.
The official name of this collective of elected and trusted community members is the Illuvinati Council.
Proposed Changes
The platform has changed this a few times, and the new wave of alterations is hopefully the last we’ll see for a while. The CFO and Illuvium team aim to preserve a stable coin runway. Council payments, thus being made in $ILV, will aid in optimizing steady coin utilization.
Furthermore, the Community has made it clear several times that they want to implement a blind voting system through Snapshot to ensure the voting process is as fair as possible.
Overview
Change Council pay:
• 5000$ USD per month paid in $ILV
• Price of $ILV would be determined as an avg of the payment cycle, utilizing the market price at 11:59 PM UTC on the last calendar day of the month.
– For Example: End of Month 1 ending price 60$, End of Month 2 ending price 50$, End of Month 3 price 55$. The payment of $ILV would be 55$ per $ILV.
• Councilors are paid every three months and two times per six-month Epoch. Once during the week following 3-months of service and once in the week following the completion of the Epoch.
• This is financially identical to the current system. This proposal clarifies ILV price determination while preserving a stable coin.
Changing to a Blind Voting System
• Implement Snapshots Blind Voting aka Shutter: https://snapshot.mirror.xyz/yGz91njKbw-sXsnAT6RkoMzPwvuddZritz37h1OWO8o
• All other voting processes would stay the same.
How are the votes weighted?
Each wallet address will be allowed to vote for a single Candidate, where the following formula will determine the number of votes cast:
C = N²
• The cost C is measured in the vILV balance.
• The platform calculates ILV wallet balance + ILV in staking + ILV representation in ILV/ETH staking + Locked ILV (for investors and team). N represents the number of votes cast for that candidate.
Illuvium Council Nominations – Epoch 7
Submit your nomination for the next Illuvinati Council Nomination.
How to Nominate
1. Submit your nomination through this Google Form with a bio explaining what qualities the nominee will bring to ILV governance. Also, why someone should vote for the nominee and a brief background on who they are. (300-word max).
2. You can nominate yourself or a fellow community member. If you choose to appoint another member, please discuss it with them first.
3. Use our official Discord → Governance → #council-nominations channel for additional discussion about candidates or nomination processes.
4. Only one nomination is allowed per member.
5. Nomination Deadline is November 15, 2022, 05:00 UTC
Goals Of The Changes
Players with weaker PCs have something to celebrate. This latest update introduces changes to balance the game. However, the main aim of this patch is optimization and bug fixing. This is IIlluvium’s first attempt at optimization. Although this round will improve the platform, we’ll need to wait on future patches for more fixes. But for now, please enjoy the reduction in your electricity bill.
“It’s worth noting we have modeled the governance process and had input from several Synthetix core contributors, who themselves modeled their governance on the Ethereum EIPs and early versions of change control in open-source software.”– Illuvium.
Illuvial Changes
Overall, the focus is on removing power from some overperforming outliers (Pangolin via Magma, Lynx Psions, niche Fighter comps) while boosting single-target damage.
Submit your nomination on the website via Community → Governance → Nominations.Â
Provide a brief bio explaining what qualities the candidate will bring to ILV governance and why voters should vote for this candidate. Furthermore, provide a brief background on who they are and what relevant professional crypto/DeFi/gaming experience they may have.
