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$EGLD is the native token of the MultiversX blockchain (initially called Elrond).
Created to support fast transactions, scalability, and decentralized applications (dApps), EGLD serves as a transaction currency, governance, and reward in the network.
📜 History and origin
The Elrond project was founded in 2017 by Beniamin Mincu, Lucian Mincu, and Lucian Todea aiming to solve the blockchain dilemma between scalability, security, and decentralization.
In June 2019, Elrond raised about US $1.9 million in a seed round, followed by an IEO on Binance that raised about US $3.25 million selling 25% of the ERD token.
The mainnet was launched in mid-2020, and the ERD token was renamed to eGold (EGLD). At the end of 2022, the Elrond ecosystem rebranded itself as MultiversX, expanding the vision for applications in the metaverse.
✅ Quick summary
Topic Detail
Launch Elrond in 2020 rebranded as MultiversX in 2022
Token #EGLD (eGold)
Technology SPoS + Adaptive Sharding
Utility Staking, fees, governance
Total supply / circulating ≈ 31.4 and ≈ 28–29 million
Historical price Maximum ~$USDC 542 in Nov 2021; current ~US$ 16.6.