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What is Illuvium Improvement Proposal (IIP)?

Crypto Terms Glossary: What is Illuvium Improvement Proposal (IIP)?

Illuvium Improvement Proposals (IIPs) are a method of facilitating the blockchain-based governance structure of the Illuvium blockchain gaming platform. IIPs allow token holders and network participants to vote on proposed amendments to the Illuvium protocol and its underlying architecture via the network-specific ILV token. While the Illuvium governance structure is similar to Ethereum Improvement Proposals (EIPs) and other blockchain systems, IIPs make use of their own distinct mechanisms to achieve a decentralized, equitable governance structure, which includes ongoing modifications to the Illuvium gaming platform and its underlying systems.

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