Illuvium recently announced an expansion to its Chainlink Integration by including Price Feeds. With the integration, Illuvium will help users accurately price digital lands whether they are transacting in ETH or sILV2.
The land is an integral component of Illuvium Zero. Customers who possess land can create valuable tokens and fuel, and the ERC 20 token lets them construct and update frameworks on these land plots.
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.
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.