How to Buy
5 steps to buy on BYDFi
Open BYDFi account for free
Sign up for BYDFi with your email/mobile number and create a strong password to protect your account
Keep your account safe
Enable Google Authentication (2FA), set anti-phishing code, and trading password to add an extra layer of protection to your account.
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Enter your personal information and upload a photo of your valid ID cardVerify your personal identity
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Once your BYDFi account is verified, add credit/debit card or bank account
Buy
There are various payment methods available to purchase ILV on BYDFi. We'll guide you through it
Choose how to purchase ILV on BYDFi
Buying coins on BYDFi is easy and convenient. Explore different ways to buy
- 1
Buy with credit/debit card
This is the easiest way for new users to buy (ILV). Connect your credit/debit card to your account, enter the amount, and wait for the transaction to complete
- 2
Buy through third-party channels
BYDFi supports a variety of leading third-party payment services. Visit ourThird-party payment pageCheck out the payment methods available in your area
- 3
Buy on BYDFi's Spot market
BYDFi's Spot market offers 700+ Coin pairs, making it the most popular buying platform. Buying methods are as follows:1. Buy stablecoins through BYDFi, third-party Coin buying channels. Additionally, you can transfer crypto assets from other wallets or exchanges to the BYDFi platform. Please make sure to choose the correct blockchain network, once you deposit your funds to the wrong address it cannot be reversed.2. Transfer your crypto to BYDFi account. Find the trading pair you want to trade on BYDFi's spot market. Place an order to exchange your currency to
Note: BYDFi offers a variety of order types to buy in the spot market, such as market orders to buy immediately and limit orders to buy at a specific price. For more information about BYDFi order types, click here3. After a successful trade, you can view the available in your account
How to store ?
The best way to store will vary depending on your needs and preferences. Check out the pros and cons to find the best way to store
Store ILV in your BYDFi account
Storing assets on BYDFi will give you quick access to trading products such as spot and contract trading, savings, lending, and more. BYDFi acts as the custodian of your crypto assets, saving you the hassle of keeping your private keys. Make sure to set strong passwords and upgrade your security settings to prevent malicious actions from accessing your assets
Deposit your ILV to the wallet
「No key, can't withdraw」If security is your biggest concern, you can withdraw to a decentralized wallet, so you can easily manage your key. You can use any type of wallet, including smart wallets, Web3 wallets or paper wallets. Note that this option may not be convenient if you want to frequently trade or use your assets. Be sure to store your private key in a secure location as loss of the key could result in the permanent loss of .
How you can use with BYDFi
Hold
Store in your BYDFi account.
Trade
Trade in spot and futures markets.
Why is BYDFi the best platform to buy ?
Safe and reliable
Millions of global crypto users trust us. Our multi-tier & multi-cluster system architecture and insurance fund protect your account.
High liquidity
BYDFi has highly liquid buy and sell orders for all listed cryptocurrencies, providing a liquid trading experience with tight spreads
Gem cryptocurrency platform
Supporting over 500 cryptocurrencies, BYDFi is the best platform to find your next Gem. You can buy ILV on BYDFi and use it to exchange other crypto assets.
Friendly interface
Thanks to its simple interface and superior technology, buying on BYDFi is quick and convenient. Buy Coin on BYDFi to receive ILV
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Answers
How to Use Illuvium?
Illuvium, the first game in development, promises to become the first AAA blockchain-based game, offering high-resolution graphics and captivating gameplay. But how do you use Illuvium (ILV)? Here is a simple guide:
The Game Concept
Illuvium is set in a strangely fragmented world, full of mysteries and challenging to traverse. As a hunter, you work with other stranded colonists to unravel the secret of this planet. You hunt and capture the native creatures - divine beings that rule the realm with their elemental powers, to reveal the story of this lost world.
The ILV and sILV Token
Illuvium utilizes the Ethereum network and the hyper-scalable ImmutableX Layer Two protocol. $ILV is the token used for governance. Anyone holding the token can vote on proposals to improve the game. Additionally, $ILV token holders can participate in the protocol and receive their share of the gaming revenue - currently set at 100%.
sILV is a synthetic ILV token that can be used as an in-game currency. It can be used to purchase upgrades, skins, and emotes and can be earned by staking $ILV tokens in the protocol.
Game Governance
The game's governance is overseen by the Illuvinati Council, a group of representatives elected by the $ILV token holders. Much of the governance framework was inspired by the Synthetix protocol. $ILV holders can elect council members as delegates and use a quadratic voting process to vote on proposals.
Can You Stake ILV Token?
The Illuvium project allows the staking of ILV directly on their platform. To do this, you must first go to the staking section on the official website and then connect a digital wallet such as MetaMask or Trust Wallet.
Illuvium has two primary pools within its protocol. The projects staking page has a dedicated pool card for each active pool. These cards provide users with valuable details about the respective pool, including the total value of assets deposited in the pool (TVL), the current effective annual interest rate, and the APY value. Users can start the staking process directly on this page.
The two main pools, the ILV Pool and the ILV/ETH Pool offer a minimum staking duration of one month and a maximum of twelve months. The rule is that the longer the staking period, the greater the rewards distributed.
For each active pool, the Illuvium protocol provides a Pending Rewards Card. Users can choose whether to receive their rewards in sILV2 or ILV. Another convenient option is that users can claim rewards from all active pools simultaneously. So, the choice is yours: claim your rewards in ILV or sILV2.
What Are Illuvium's Tokenomics?
The token economy of the ILV token used on the Illuvium platform is both complex and well-thought-out. It was designed to ensure the stability and growth of the Illuvium ecosystem while providing value and utility to its holders. Here are the main elements of the ILV token economy:
Dual Purpose of $ILV Token
$ILV serves as a governance token, allowing holders to participate in the decentralized governance of Illuvium and influence the project. Additionally, $ILV is a tradable token that can be bought, held, or exchanged.
Pre-Seed and Seed Sale
These sales were crucial for funding the growth of Illuvium's main contributors and accelerating project development. Early investors purchased 500,000 ILV tokens for $1 each in the Pre-Seed Sale, while 1,500,000 ILV tokens were distributed for $3 each in the Seed Sale.
Balancer Liquidity Bootstrapping Pool (BLBP)
This pool was used for the initial public sale of $ILV. By utilizing Balancer's Smart Pools, Illuvium could distribute up to 1,000,000 $ILV tokens without a lock-up period and initially list them for $50 per token.
The Treasury
The Treasury represents the collective interests and decision-making powers of the token holders. It can initiate and oversee various actions, such as allocating funds to Illuvium Labs for game development.
The Vault
The Vault acts as a central repository where all game-generated revenues are collected. The ILV tokens purchased in the open market are then distributed among the token holders, ensuring the transparency and fairness of the game's profit distribution.
Yield Farming
Yield farming is a mechanism to reward staked token holders for their contribution to the Illuvium ecosystem. The rewards that token holders receive are determined by a combination of factors, including the lock-up duration, the number of staked tokens, and the specific pool in which the tokens are staked.
Distributions
Distributions are the means provided to token holders through the actions of the Vault by converting game-generated revenues into ILV tokens. These distributions ensure token holders are fairly compensated for participating in the game.
