IP Pool that funds events to improve community spirit.
So there are tons of players who have been playing for a long time and have everything there is to buy with IP. They slowly start amassing the IP they gain until something like this happens.
It would be cool if players could donate their IP into some kind of community IP Pool that can they be used to "fund" weekend events, like bonus EXP or IP Weekends, Community-Voted Gamemodes, Gamemodes with all champions unlocked, Gamemodes with all skins unlocked?, ARAM with all champions unlocked, ARAM with all skins unlocked?, ARAM with Murder Bridge, Play 10 Games to get a Chest/Key/Chest&Key, etc
These events could be chosen randomly, there could be a schedule, or Rioters could choose which one happens. Each event would have different IP prices. It would be awesome to see 1 Billion IP in a community IP Pool, but it might be easier to buy "Coins" (could also be called Krakens with a Black Market theme) that then fill the pool. There could be a limit, like 1 Coin a day per player.
At the end of the season players could then get a banner like the current Honor Banners that shows how many Coins you bought, or they could get other rewards for having bought them.