MultiversX (EGLD): how it works, supply and reviews
In short
- Type
- Layer-1 with adaptive state sharding: 1 Metachain plus 3 transaction shards, more can be added
- Maximum supply
- Theoretical maximum of 31,415,926 EGLD
- Risks and caveats
- Total supply (about 31.08 million EGLD on 31 October 2026) is close to the stated 31,415,926 theoretical maximum, so future emissions depend on the issuance schedule and fee offsets.
- Checked
- 31 October 2026
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Key facts
- Ticker
- EGLD
- Official site
- multiversx.com
Key facts checked on 31 October 2026 against official sources.
What is MultiversX
MultiversX, called Elrond until November 2022, is a sharded proof-of-stake layer-1 blockchain that splits state, network and transactions across shards coordinated by a Metachain. Its native coin is EGLD (eGold), used for fees, staking and governance. Mainnet launched in July 2020.
Network and consensus
| Parameter | Details |
|---|---|
| Type | Layer-1 with adaptive state sharding: 1 Metachain plus 3 transaction shards, more can be added |
| Consensus | Secure Proof of Stake (SPoS): stake-weighted validator selection, VRF-style randomness and BLS multisignatures |
| Validators | Minimum 2,500 EGLD stake per validator node; shards reshuffled every 24-hour epoch |
| Block time | 6-second rounds in the consensus docs; the Supernova upgrade targets 600 ms blocks |
| Smart contracts | Yes; native ESDT token standard built into the protocol |
| Launched | Mainnet launched in July 2020 |
Supply and issuance
| Parameter | Details |
|---|---|
| Maximum supply | Theoretical maximum of 31,415,926 EGLD |
| Initial distribution | 20,000,000 EGLD minted at bootstrapping |
| Issuance | Remaining EGLD released over 10 years; minting is offset by transaction fees |
| Fee burn | A portion of every network fee is burned |
On 31 October 2026: 31,081,898 EGLD in circulation, 31,081,898 EGLD in total (source: MultiversX API (economics endpoint)).
What EGLD is used for
- Paying transaction fees and smart-contract gas
- Staking by validators and delegators
- On-chain governance voting, weighted by stake
- Collateral in DeFi applications
Who develops and governs MultiversX
- Founders
- Beniamin Mincu is named as co-founder
- Governance
- On-chain proposals (500 EGLD fee, 15 days of public debate on Agora); voting power equals staked EGLD
- Open source
- Yes; Go node implementation mx-chain-go on GitHub
History
| Date | Event |
|---|---|
| May 2018 | Elrond technical paper published. |
| July 2020 | Mainnet launches. |
| September 2020 | Economics upgrade replaces the ERD token with EGLD. |
| January 2021 | Smart contracts launch on mainnet. |
| November 2022 | At xDay 2022 in Paris, Elrond becomes MultiversX. |
Security and audits
- Each validator holds a BLS key, and shard validators are reshuffled every 24-hour epoch using verifiable randomness.
- Losing staked EGLD is the deterrent against attacks, according to the project.
- On 5 June 2022 an attacker drained about 1.65 million EGLD from Wrapped EGLD swap contracts via a VM flaw; an emergency patch followed and Elrond says most funds were recovered.
Security incidents
| Date | What happened | Source |
|---|---|---|
| 5 June 2022 | Exploit: An attacker used the 'executeOnDestContextByCaller' VM function to drain about 1.65 million EGLD (400k, 800k and 450k EGLD on shards 0-2) from the Wrapped EGLD swap contracts and sold part on the Maiar Exchange; about 4 million USDC and 1 million UTK were bridged to Ethereum before the bridge was paused. Funds returned: Elrond says most of the funds were recovered from the attacker by 7 June 2022 and the pre-attack state was restored; validators applied an emergency patch the same morning. | multiversx.com |
| 19 September 2026 | Network halt: An actor exploited a VM-level atomicity issue (root cause: an order-of-operations mistake in edge cases); network progression was paused on 19 September 2026, the attacker's accounts were frozen with major exchanges and law enforcement was engaged; mainnet resumed after a recovery hard fork on 24 September 2026. Funds returned: Attacker accounts identified and frozen with major exchanges (MultiversX, 21 Sep 2026); recovery amounts not stated. | x.com |
Further incidents are reported by third parties (press, incident databases) but are not confirmed in the company’s own channels, so they are not listed here.
Risks and caveats
- Total supply (about 31.08 million EGLD on 31 October 2026) is close to the stated 31,415,926 theoretical maximum, so future emissions depend on the issuance schedule and fee offsets.
- Running a validator needs at least 2,500 EGLD, so most holders stake through providers.
Official links
- Website: multiversx.com
- Docs: docs.multiversx.com
- Source code: github.com/multiversx/mx-chain-go
- Block explorer: explorer.multiversx.com
- Rename story: multiversx.com/transformation
Questions and answers
What is MultiversX?
MultiversX is a sharded proof-of-stake layer-1 blockchain. Its native coin is EGLD (eGold).
Is Elrond now MultiversX?
Yes. Elrond became MultiversX in November 2022 at the first xDay in Paris; EGLD stayed the native coin.
What is the maximum supply of EGLD?
The docs give a theoretical maximum of 31,415,926 EGLD; 20,000,000 were minted at launch.
What happened to ERD?
In September 2020 an economics upgrade replaced Elrond's ERD token with EGLD.
Sources
- MultiversX Docs — Welcome
- MultiversX Docs — Consensus
- MultiversX Docs — Economics
- MultiversX Docs — What is EGLD
- MultiversX Docs — Governance overview
- MultiversX — From Elrond to MultiversX
- MultiversX — FAQ
- MultiversX API — economics
- Elrond Incident and Recovery Report (11 June 2022, Wayback)
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