MultiversX

Elrond's mainnet opened on July 30, 2020 after the ERD era. The swap compressed 1,000 ERD into 1 EGLD and established a 20 million EGLD genesis supply.

That arithmetic was more than a ticker edit. It changed every historical supply and price comparison, while preserving the network lineage. Old ERD charts cannot be placed beside EGLD charts without applying the ratio.

At xDay in 2022, Elrond became MultiversX. Websites, products and repositories moved under a new identity, but EGLD remained the native coin. There was no second redenomination.

EGLD pays for transfers, token creation and smart-contract execution. Validators earn it for consensus, and users can stake directly or delegate through a provider.

The original model began with 20 million and described a ten-year path toward 31,415,926 EGLD, with fees offsetting issuance. A 2025 governance process changed the ending: mainnet Economics V2 now enables tail inflation from epoch 1951, decaying toward a 2% floor.

On September 5, 2026 the official API showed 30,711,565 EGLD in total and circulating supply and roughly 14.52 million staked. Those numbers are a snapshot, not permanent promises.

Adaptive State Sharding divides accounts, data and transactions across execution shards. A Metachain coordinates shard headers and system functions, so parallel work still belongs to one ledger.

Secure Proof of Stake draws consensus groups with protocol randomness and BLS signatures, then reshuffles validators across shards. The design reduces advance knowledge and collusion opportunities, but it does not make node software or operations risk-free.

The documented direct-staking path locks 2,500 EGLD per validator node. Network capacity can place a staked node in a queue, while delegation lets another operator supply hardware and performance.

A live configuration snapshot listed three execution shards, 400 nodes per shard, 400 Metachain nodes and six-second rounds. These are configurable network conditions, not immutable holder rights.

On-chain governance accepts proposals after an Agora discussion and a 500 EGLD fee. Directly or delegated staked EGLD supplies linear voting power; the documented thresholds are 20% quorum and 66.67% acceptance.

The proposal carries a commit hash or specification reference. Passing records a network decision, but cannot silently replace binaries on validator machines. Core developers publish code and releases, and validators must adopt compatible software for an upgrade to become network behavior.

The governance system contract also has configured administrative edges, including treatment of lost proposal fees. Community voting, contract ownership and release coordination should therefore be inspected separately.

Guardians add a second signature to an opted-in account. An unconfirmed new guardian waits 20 epochs before activation; an existing active guardian can co-sign an immediate change. The delay is an account-recovery defense, not a Foundation freeze switch.

A user may choose a personal guardian or a trusted co-signer service integrated by a wallet. That choice can reduce single-key risk while creating availability, privacy and service dependencies.

The public repository makes protocol logic inspectable, and the 2022 incident report shows that developers and validators can coordinate fixes. Neither fact grants arbitrary seizure power over all EGLD.

What a holder receives is narrower: a transferable native coin, fee payment, possible staking or delegation, and stake-conditioned voting. The reviewed sources do not promise shares, reserve redemption, insured principal or fixed yield.