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What is MultiversX (EGLD)?

The native coin of MultiversX, formerly Elrond. One EGLD was a thousand ERD. The ceiling on paper is just over 31 million.

ECGBy EasyCryptoGuides · Editor · Published · Updated · 1 min read

Abstract glowing network of connected nodes on a dark background
Photo by Shubham Dhage on Unsplash

First published 4 September 2020, the day after the redenomination started. Expanded in October 2026 so a thousand-for-one display is not described as a new pile of coins, and so the 2022 rename is not described as a split. MultiversX is a proof-of-stake chain. Beniamin Mincu is the person most associated with it. It opened as Elrond, on 30 July 2020. In November 2022 it was renamed MultiversX. The ticker stayed EGLD. The chain did not split. A wallet that still says Elrond is the same network with an old name.

Before that, the token was ERD, on Ethereum and on BNB Chain. From 3 September 2020 the native coin was EGLD, at 1,000 ERD for 1 EGLD. The dollar value was meant to be unchanged. The unit got bigger. A price that looks a thousand times higher is that split, not a thousand times the holding. ERD you never swapped is not EGLD. The project described a window of many months, not an open door in 2026. A site that says it can still finish the 2020 swap, and asks for a recovery phrase, is not that window.

The starting supply after the split was 20 million. The project’s economics note capped later validator rewards at 11,415,927, so the paper ceiling is 31,415,927. Fees were designed to mint less than that budget. A price times 31 million is the ceiling, not a count of coins that exist. A MultiversX address starts with erd. An Ethereum address will not receive EGLD. The design splits work across shards. A transfer still has to name the account you meant. This page will not describe the shards. Staking is a lock and a queue, not a savings account. The wrong network is still the wrong city. Nothing here is an instruction to swap ERD, to stake, or to buy EGLD.

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This article is for information only and is not financial advice. Cryptoassets are volatile and you can lose money. See our disclaimer.

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