This week’s patch is a big one
Riot have removed IP, instead, transforming the currency to ‘blue essence’. This will essentially enable players to ‘dust’ / ‘disenchant’ champion shards they do not wish to upgrade, while still being able to purchase the champions they do want.
Runes have also been removed, players have been partially been refunded for the cost of each rune. As a result, many existing players will have a huge bank of blue essence. In response Riot has released an icon, skin and ward skin that will be purchasable with blue essence, at extremely high costs.