What Is EGLD? MultiversX (Elrond) Explained

EGLD is the native token of MultiversX, a sharded proof-of-stake layer-1 blockchain formerly called Elrond. EGLD pays transaction fees, secures the network through staking and gives holders a say in on-chain governance. MultiversX splits its workload across several shards that run in parallel, which is how it aims to scale without moving activity to a layer 2.

This guide covers the Elrond-to-MultiversX rebrand, how adaptive state sharding and Secure Proof of Stake work, EGLD's supply and its 2025 switch to tail inflation, staking, the main DeFi apps, and dated market data.

What is MultiversX?

MultiversX is a smart contract blockchain whose mainnet launched on 30 July 2020 under the name Elrond, per the project's token swap announcement. Its official EGLD page describes the token as "MultiversX's native asset for security, gas fees, and governance".

The network is account-based, runs WebAssembly smart contracts, and has its own token standard (ESDT) built into the protocol rather than deployed as a contract per token. As of 17 October 2026, the MultiversX API reported about 9.27 million accounts and 633 million transactions since launch, across three execution shards plus a coordinating metachain.

From Elrond to MultiversX: the rebrand

Elrond announced it would rebrand as MultiversX on 4 November 2022, as Cointelegraph reported. Alongside the new name it unveiled xPortal (the successor to the Maiar wallet app), xFabric and xWorlds, with a pitch centred on the metaverse.

The token did not change. It is still EGLD, which is why searches for "Elrond" and "EGLD" lead to the same asset. Maiar DEX was then migrated to xExchange in December 2022 after a governance vote, according to AMBCrypto.

EGLD itself came from an earlier redenomination. At mainnet, 20 billion ERD tokens became 20 million EGLD at a 1,000:1 ratio, with exchange swaps starting on 3 September 2020, per the same MultiversX post.

How adaptive state sharding works

Most blockchains make every validator process every transaction. MultiversX instead divides the network into shards, and per its documentation it shards three things at once:

Network sharding: nodes are grouped so messages spread faster inside a shard.
Transaction sharding: each transaction is processed by the shard that holds the sender's account.
State sharding: each shard stores only its part of the ledger, so no node has to hold everything.

A separate metachain notarises shard blocks and, at the end of every epoch, reshuffles part of the validator set between shards using unpredictable randomness. That rotation makes it hard for an attacker to concentrate on one shard. The docs say the number of shards is recomputed each epoch based on load and node count, which is the "adaptive" part. The live network config showed three shards of 400 nodes each, plus a 400-node metachain, on 17 October 2026.

Transactions between accounts on different shards take longer, because both shards and the metachain have to process them. For a broader explanation, read what sharding is, and for how other designs approach the same problem, see our sibling guide on the blockchain trilemma.

Secure Proof of Stake and Supernova

MultiversX's consensus is called Secure Proof of Stake (SPoS). Per the consensus docs, a validator needs a minimum of 2,500 EGLD and a running node. Each round, a block proposer is chosen using randomness derived from the previous block, and a node's rating, built from its past performance, influences how it is assigned. Since the Andromeda upgrade in May 2025, all 400 validators in a shard sign each block, and a block is final once two-thirds have signed, so there are no reorganisations to wait out.

The latest major change is Supernova, which decouples consensus from execution. CryptoSlate reported it was scheduled to activate on 10 September 2026 at epoch 2233, cutting block times from six seconds to 600 milliseconds. The network config showed a 600 ms round duration on 17 October 2026, which matches.

EGLD supply and tokenomics

For most of its history EGLD was sold on scarcity: a maximum supply of about 31.4 million tokens, with issuance falling each year. That changed in 2025. A governance proposal in October 2025 replaced the fixed cap with tail inflation, a move Coinspeaker noted was controversial because the project had long promised a capped supply.

The official Staking V5 release notes, published 24 November 2025 and set to activate at epoch 1951 on 2 December 2025, set out the new model:

Inflation is calculated on the current total supply, starting at 8.757% a year and falling by 0.25 percentage points each year to a 2% floor.
Emissions are split 50% to staking, 20% to a Growth Dividend, 20% to an Ecosystem Growth Fund and 10% to protocol sustainability.
Only 60% (staking plus sustainability) is guaranteed. The other 40% is released only if ecosystem growth targets are met.
Fee burn: a planned fee change splits base fees between builders and a burn, starting at 90/10 and moving towards 50/50 over eight years, with fees from non-contract and failed transactions burned entirely.

As of 17 October 2026, the network economics endpoint reported a total supply of about 30.98 million EGLD, and CoinGecko's API listed no maximum supply.

Staking EGLD

Most holders don't run a 2,500 EGLD validator. They delegate to a staking provider, which runs the nodes and shares the rewards after its commission. About 14.27 million EGLD, around 46% of supply, was staked on 17 October 2026, with a network staking APR of about 8.9% before provider fees, according to the MultiversX API. That rate is set by the protocol and changes with participation.

Unstaking isn't instant. The network's unbonding period is 10 epochs, per the network config, and an epoch lasts about a day. Liquid staking tokens let you stay liquid during that time. Our step-by-step guide on how to stake EGLD walks through both routes.

The MultiversX DeFi ecosystem

Total DeFi TVL on MultiversX was about $12.5 million on 17 October 2026, per DefiLlama. That is small next to the largest chains, and it's worth knowing before you go looking for deep liquidity. The biggest apps by DefiLlama TVL that day:

Hatom: lending (about $6.8 million) and liquid staking (about $3.1 million), the largest protocol on the chain.
xExchange: the native DEX, successor to Maiar DEX and home of the MEX token (about $3.8 million).
XOXNO: an NFT marketplace that also runs liquid staking and lending.
AshSwap: a stableswap-style DEX (about $0.84 million).
OneDex and other smaller DEXs.

Payments are the other leg. Elrond acquired the crypto payments company Utrust in 2022, per Cryptoast, and it now operates as xMoney, which describes itself on its website as a licensed electronic money institution regulated by the Bank of Romania. The same site says its crypto-asset services are currently suspended while its provider's CASP application is assessed. Our roundup of the best DeFi protocols on MultiversX goes further.

EGLD market data

On 17 October 2026, EGLD traded at about $3.62 with a market capitalisation of around $112 million, ranking roughly 264th, per the CoinGecko API. Its all-time high was about $545.64 on 23 November 2021, so the token was down more than 99% from that peak.

Where JewelSwap fits

JewelSwap has run on MultiversX since its early days. On the chain, it offers JWLEGLD liquid staking, where you mint JWLEGLD from EGLD and stake it as SJWLEGLD to earn, plus NFT lending against MultiversX NFT collections. JewelSwap's MultiversX money markets are paused for new supply and borrowing. See JewelSwap on MultiversX for the full picture.

Frequently asked questions

What is EGLD?

EGLD is the native token of the MultiversX blockchain. It pays transaction fees, is staked to secure the network, and is used in on-chain governance. The name dates from the network's time as Elrond.

Is MultiversX the same as Elrond?

Yes. Elrond announced its rebrand to MultiversX on 4 November 2022. The blockchain, its history and the EGLD token stayed the same; the wallet app Maiar became xPortal and Maiar DEX became xExchange.

What is the max supply of EGLD?

EGLD no longer has a fixed maximum supply. The original cap of about 31.4 million was replaced by tail inflation through the Staking V5 upgrade in late 2025, starting at 8.757% a year and decaying towards 2%. Total supply was about 30.98 million EGLD on 17 October 2026.

How does MultiversX scale?

It uses adaptive state sharding: the network, transaction processing and state are split across several shards that run in parallel, coordinated by a metachain. Since the Supernova upgrade in September 2026, rounds last 600 milliseconds.

How long does it take to unstake EGLD?

The protocol's unbonding period is 10 epochs, roughly 10 days. Liquid staking tokens such as JWLEGLD give you a tradable token in the meantime, though selling one on the market may be at a discount.

Keep reading

This article is educational and isn't financial advice. Figures are as of 17 October 2026 from the MultiversX API, DefiLlama, CoinGecko and the sources linked, and they change daily. JewelSwap operates JWLEGLD liquid staking on MultiversX.

Viktor Vostrikov

Co-Founder

About the author.

Co-Founder at JewelSwap & Chief Strategy Officer at iDenfy. Viktor brings his successful track record of superb development & project management.