Illuvium Announces Chainlink Expansion | Ready for June 2nd Land Sale Buyer Can Price with sILV or Ethereum
Roxanne Williams Last Updated: May 29, 2022
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It recently announced that it would add Price Feeds to its Chainlink Integration. Through the integration, Illuvium will enable users to price digital lands accurately regardless of whether they are transacting in ETH or SILV2.
The land is an essential part of Illuvium Zero. With the ERC-20 token, land owners can create valuable tokens and fuel, and they can also build and update frameworks on these plots of land.
Currently, hundreds of thousands of users have registered for Land Sale on Illuvium. That is why the venture is trying to establish a transparent and fair process to eradicate excessive GAS fees.
It will be achieved by conducting a three-day Dutch auction. The event will start with a fixed price, gradually decreasing until it is purchased. The incurred revenue from land sales will be shared with stakers as revenue distributions.
Users can currently buy Tier 1 to 4 land in sILV2 and ETH. On the other hand, the Tier 5 plots are only available to be bought using ETH. The way transactions work on Illuvium remains the same to ensure the ETH – sILV2 price ratio is precise. Such use-cases only left the network with one choice – Chainlink Price Feeds.
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The oracle network has been recognized as an enterprise-grade oracle to access precise data. Thus, its integration into the Illuvium ecosystem will help customers gain fair plot prices.
Since Illuvium is the first AAA play-and-earn blockchain-based game, its community-governed services are some of the best in Web 3. Given Chainlink’s market performance, its integration as an oracle network is a natural choice for networks. The oracle has secured billions of dollars for DeFi protocols. It possesses multiple decentralization layers at the oracle node, network levels, and data source.
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Roxanne Williams
Roxanne Williams has recently joined as a market reporter for CryptoNewsZ – the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world’s leading cryptocurrencies.
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. illuviumfever.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
