MultiversX (EGLD)

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Overview

MultiversX (formerly Elrond) is a high‑performance Layer‑1 network built to support the next wave of open internet apps. The MultiversX blockchain focuses on speed, low costs, and a smooth user experience. Its native currency, the EGLD token (often called “eGold”), powers fees, staking, and on‑chain governance. Thanks to a unique mix of adaptive state sharding and Secure Proof of Stake (SPoS), the network is designed to scale from thousands to tens of thousands of transactions per second while keeping fees low and confirmations fast. Builders use it to deploy DeFi protocols, NFT collections, games, and payments, all inside one ecosystem. xPortal, the project’s “crypto super app,” brings these features to everyday users, combining wallet, payments, and social tools in a single mobile experience. (docs.multiversx.com)

At a glance, the value story is simple: the MultiversX blockchain aims to deliver internet‑scale performance, the EGLD token secures and governs the network, and the broader stack (xPortal, xExchange, xMoney, and Sovereign Chains) targets real‑world adoption across finance, NFTs, and gaming. While people often watch the EGLD price, long‑term interest centers on MultiversX tokenomics, throughput, and the quality of apps that choose to build here. (docs.multiversx.com)

History & Team

MultiversX started life as Elrond in 2017, founded by Beniamin Mincu (CEO), Lucian Mincu (CIO), and Lucian Todea (COO). The team combines blockchain, infrastructure, and startup experience, and has grown to 100+ professionals across engineering and business roles. Mainnet launched in July 2020, marking the move from research to a live, sharded network. In November 2022, Elrond rebranded to MultiversX at the X Day conference in Paris to reflect a broader mission and a new product suite (xPortal, xFabric, xWorlds). (help.multiversx.com)

Along the way, the project made strategic acquisitions to expand regulated payments. In 2022, MultiversX (then Elrond) acquired Twispay, an Electronic Money Institution licensed by the National Bank of Romania, enabling card issuance and e‑money services across the EEA. In the same year, it acquired Utrust (now xMoney) to fuse crypto payments and merchant tools with its Layer‑1. (coindesk.com)

EGLD gained major exchange access in December 2022 with a Coinbase listing, widening distribution to a large U.S. audience. The network has continued adding partners and validators, including Animoca Brands in 2025, reinforcing a focus on “MultiversX DeFi, NFTs, gaming.” (multiversx.com)

Technology & How It Works

Adaptive State Sharding

MultiversX uses adaptive state sharding, which splits the blockchain into several parallel shards that each process their own share of transactions and state. The network can change the number or size of shards based on demand, improving throughput without sacrificing decentralization. A special coordination shard, the Metachain, ties everything together. Public tests demonstrated the design’s headroom, and the architecture on mainnet currently runs with three execution shards plus the Metachain. (help.multiversx.com)

Secure Proof of Stake (SPoS)

Consensus is handled by SPoS, MultiversX’s PoS variant. Validators are pseudo‑randomly selected per round within each shard, and block proposals are finalized efficiently with strong security assumptions. The validator set is large and globally distributed, and the network’s staking upgrades (Staking V4) further improved decentralization metrics. (help.multiversx.com)

Smart Contracts and the MultiversX VM

Smart contracts compile to WebAssembly (WASM). Developers typically write them in Rust using the MultiversX framework, benefiting from strong tooling and a clean API. Because the VM executes WASM, the door is open to other languages that compile to WASM as the toolchain matures. The stack includes testing frameworks, a CLI (mxpy), and an SDK that keeps evolving for better developer experience. (docs.multiversx.com)

Tokens at the Protocol Layer

Fungible, semi‑fungible, and non‑fungible tokens (ESDTs, SFTs, NFTs) are native features handled by the protocol, not by custom contract code. That means token transfers are as fast and scalable as EGLD itself, and cross‑shard logistics are abstracted away for the user. Token creation is streamlined (with a low fixed issuance fee) and widely used by projects across MultiversX DeFi, NFTs, gaming. (docs.multiversx.com)

Fees, UX, and Data

Gas and fees are predictable and low, with meta‑transaction patterns available to improve onboarding. On the data side, MultiversX mainnet data is published to Google BigQuery, letting teams run familiar SQL queries for analytics without managing their own nodes. (docs.multiversx.com)

Sovereign Chains

Sovereign Chains is MultiversX’s SDK for launching custom appchains or L2s that inherit MultiversX performance features and interoperate natively. Builders can tailor gas tokens, VMs (including EVM alongside the MultiversX VM), and security models, aiming for sub‑second block times and high throughput, while keeping a unified user experience across chains. (globenewswire.com)

Tokenomics & Utility

What the EGLD Token Does

The EGLD token secures the network through staking, pays for transactions and smart contract execution, and provides voting power in on‑chain governance. Validators and delegators earn rewards for producing and validating blocks, aligning token holders with network health and growth. (multiversx.com)

MultiversX Tokenomics at a Glance

• Supply model: The active economic model targets a capped issuance with a current theoretical maximum near 31.4 million EGLD, with the idea that network fees can offset part of the issuance over time. The team has publicly discussed exploring a refreshed framework with the community; at the time of writing, no change has been adopted. (multiversx.com)
• Staking and rewards: Inflation started higher at mainnet launch and is scheduled to decrease annually, trending toward zero by 2030, with fees substituting issuance as usage grows. Rewards split between validators and delegators, minus provider service fees. (docs.multiversx.com)
• Distribution and fundraising: In 2019, the project conducted a Binance Launchpad sale (IEO) that sold roughly a quarter of the initial supply, alongside an earlier private round with investors including Binance Labs, Electric Capital, NGC, and Maven 11. The mainnet launch in 2020 included a token migration to eGold (EGLD). (bravenewcoin.com)

In short, MultiversX tokenomics emphasize a sustainable path: rewards that support security early on, a decreasing inflation schedule, and a long‑term plan to rely more on real network activity. This is central to many users’ interest beyond day‑to‑day moves in the EGLD price. (docs.multiversx.com)

Ecosystem & Use Cases

DeFi

xExchange is the flagship AMM on MultiversX, offering swaps, liquidity pools, staking, and “energy” mechanics via its MEX/xMEX design. Because ESDTs are protocol‑level tokens, DeFi apps benefit from fast, inexpensive transfers and smooth cross‑shard operation. Bridges and on‑ramps extend reach to assets from other chains. (docs.xexchange.com)

NFTs and Digital Assets

NFTs and SFTs are first‑class citizens on the MultiversX blockchain. Notably, Romania’s ICI Bucharest launched ICI D|SERVICES, a government‑backed digital assets and NFT platform built on MultiversX, highlighting institutional interest in on‑chain asset management. (docs.multiversx.com)

Gaming and Media

The network has prioritized “MultiversX DeFi, NFTs, gaming,” including partnerships and validator participation from industry leaders. Animoca Brands joined as a validator and ecosystem contributor in 2025, aligning its large gaming portfolio with MultiversX infrastructure and Sovereign Chains. (globenewswire.com)

Payments and Commerce

xMoney (rebranded from Utrust) and the Twispay e‑money license give the ecosystem regulated rails in the EEA—supporting card issuing, settlements, and merchant features. These pieces complement xPortal, which connects spending, saving, and staking into a single user app experience. (coindesk.com)

Advantages & Challenges

Advantages

• Throughput by design: Adaptive state sharding and SPoS enable horizontal scaling and low latency, with public tests showing high headroom and a mainnet architecture ready to add shards as demand grows. (docs.multiversx.com)
• Low fees and smooth UX: Protocol‑level tokens keep transfers lightweight; meta‑transactions and mobile‑first tooling simplify onboarding. (docs.multiversx.com)
• Green footprint: The project pursued carbon‑negative operations via verified offsets, aligning with sustainability goals important to enterprises and public institutions. (accessnewswire.com)
• Developer experience: WASM smart contracts in Rust, an active SDK, and analytics via BigQuery support builders from prototype to production. Royalties return a share of gas to contract authors. (docs.multiversx.com)
• Expanding stack: With xPortal, xExchange, xMoney, and Sovereign Chains, the ecosystem spans consumer apps, DeFi, payments, and custom chains under one umbrella. (multiversx.com)

Challenges

• Newer approach at scale: Adaptive state sharding is powerful but complex; maturing tooling and educating developers remain ongoing work. Independent reports show usage rising in waves, but the ecosystem still competes with larger chains on developer mindshare. (messari.io)
• Evolving economics: The team continues to discuss refinements to MultiversX tokenomics with the community; any changes will draw attention given EGLD’s longstanding capped‑supply narrative. (multiversx.com)

Where to Buy & Wallets

MultiversX can be purchased on major centralized exchanges. EGLD is available on Coinbase, Binance, KuCoin, OKX, MEXC, Poloniex, and Uphold. (multiversx.com)

EGLD is also accessible inside the xPortal app through integrated on‑ramps, letting users buy with cards or bank methods in supported regions. The MultiversX Web Wallet and the MultiversX DeFi Wallet (browser extension) provide desktop access to the MultiversX blockchain. Hardware wallet support is available through Ledger; users can install the MultiversX app via Ledger Live and manage EGLD and ESDT assets. (help.multiversx.com)

Regulatory & Compliance

MultiversX operates as an open, permissionless blockchain, while parts of its ecosystem plug into regulated financial infrastructure. The acquisition of Twispay—a licensed Electronic Money Institution supervised by the National Bank of Romania—enables services such as card issuing and e‑money within the EEA. xMoney (formerly Utrust) extends merchant payment capabilities with compliance procedures, card processing, and settlement across multiple fiat currencies. (coindesk.com)

In the European Union, the Markets in Crypto‑Assets (MiCA) regulation entered into force in 2023. Stablecoin rules started to apply on June 30, 2024, and most provisions for crypto‑asset service providers (CASPs) have applied since December 30, 2024, with transitional arrangements running in some Member States until July 1, 2026. Under MiCA, firms offering services like custody or exchange in the EU need authorization; ESMA maintains a central register. MultiversX itself is a blockchain; compliance obligations fall primarily on the service providers that list, custody, or intermediate EGLD. (amf-france.org)

In the United States, EGLD trades on Coinbase, a publicly listed exchange that applies internal listing standards and compliance reviews, but a listing does not equal a formal regulatory designation. As with most crypto‑assets, treatment depends on facts and circumstances and continues to evolve. (multiversx.com)

On faith‑based considerations, many Islamic finance reviewers view general‑purpose, decentralized networks using Proof of Stake as permissible when the token functions as a utility asset and staking rewards compensate for a security service rather than interest. In that framework, MultiversX is often described as halal, and the EGLD token as Shariah‑compliant in practice, because the protocol lacks interest‑bearing features and the network is open and transparent. Interpretations can differ across scholars and jurisdictions, but this line of reasoning aligns with broader rulings that consider PoS‑based crypto systems permissible when used for lawful, non‑speculative activity. (cointelegraph.com)

Future Outlook

The roadmap centers on performance, interoperability, and mainstream apps:

• Sovereign Chains: Expect more bespoke chains and L2s using the Sovereign Chains SDK for DeFi, NFTs, and gaming, with native interoperability and customizable gas economics. (multiversx.com)
• Data and analytics: BigQuery access will continue to make MultiversX network data easy to analyze for teams and institutions, improving transparency and growth metrics tracking. (globenewswire.com)
• Consumer experience: xPortal aims to fold more features into an everyday app—payments, cards, staking, DeFi access, and AI‑assisted insights—helping close the gap between crypto and mainstream finance. (xportal.com)
• Ecosystem growth: Deeper collaborations with gaming groups and infrastructure providers, plus ongoing grants and launchpad programs, are set to expand “MultiversX DeFi, NFTs, gaming” across regions. (globenewswire.com)

Overall, the combination of a scalable base layer, a flexible appchain stack, and a payments footprint positions MultiversX to compete for high‑throughput consumer and enterprise use cases.

Summary

MultiversX is a purpose‑built, sharded Layer‑1 network where speed, low fees, and strong developer tools meet a growing suite of products. The EGLD token secures and governs the system, sits at the center of MultiversX tokenomics, and powers activity across DeFi, NFTs, and gaming. With regulated payments integrations in Europe, a major U.S. exchange listing, and a path for custom appchains through Sovereign Chains, the ecosystem aims to bridge advanced blockchain tech with everyday finance and apps. For learners and builders alike, understanding the MultiversX blockchain, the role of the EGLD token, and where to buy EGLD are the keys to following how this platform evolves—regardless of short‑term moves in the EGLD price. (coindesk.com)