[Crypto projects](https://revain.org/projects/) › MultiversX

# 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

## Key facts

- **Ticker**: EGLD
- **Official site**: [multiversx.com](https://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)](https://api.multiversx.com/economics)).

## 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](https://web.archive.org/web/20260124082503/https://multiversx.com/blog/incident-and-recovery-report) |
| 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](https://x.com/MultiversX/status/2101341591277391953) |

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](https://multiversx.com/)
- Docs: [docs.multiversx.com](https://docs.multiversx.com/)
- Source code: [github.com/multiversx/mx-chain-go](https://github.com/multiversx/mx-chain-go)
- Block explorer: [explorer.multiversx.com](https://explorer.multiversx.com/)
- Rename story: [multiversx.com/transformation](https://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](https://docs.multiversx.com/welcome/welcome-to-multiversx/)
- [MultiversX Docs — Consensus](https://docs.multiversx.com/learn/consensus/)
- [MultiversX Docs — Economics](https://docs.multiversx.com/learn/economics)
- [MultiversX Docs — What is EGLD](https://docs.multiversx.com/learn/EGLD)
- [MultiversX Docs — Governance overview](https://docs.multiversx.com/governance/overview)
- [MultiversX — From Elrond to MultiversX](https://multiversx.com/transformation)
- [MultiversX — FAQ](https://multiversx.com/faq)
- [MultiversX API — economics](https://api.multiversx.com/economics)
- [Elrond Incident and Recovery Report (11 June 2022, Wayback)](https://web.archive.org/web/20260124082503/https://multiversx.com/blog/incident-and-recovery-report)

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Page updated: 2026-10-31

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Source: https://revain.org/projects/multiversx/