MultiversX, DATs and EGLD

What are digital asset treasury deals?
Are they a breakthrough in financial engineering?
And how do they contribute to EGLD?

A few compressed thoughts. 🧵 First, a one-pager with simplified definitions.

MultiversX: Status, Strategy, Momentum

The year is 2025. And we are ready.

Hard times create strong networks. Strong networks create good times.

This is the essence of where we stand—and the spark of what’s about to unfold.

But before we look ahead, let’s take a clear look at where we are.

First things first. 🧵 MultiversX Today

MultiversX is the most scalable, efficient, secure and decentralized blockchain architecture in the world that is LIVE IN PRODUCTION TODAY.

As others have spent billions on optimizing infrastructure for short-term enhancements with tradeoffs that are bound to falter in the long-term, we have doubled down on improving the very foundation of what we know will be the future of the internet: a secure, hyperscalable, blazing fast blockchain network.

What we’ve achieved becomes even more remarkable when comparing the sheer scale of resources other blockchains such as Ethereum, Solana, and Polkadot are spending on a yearly basis.

In contrast, since our last update in November–December 2024, we’ve executed a 50% cost reduction and optimization across the MultiversX organization. Our target is to reach a 75% optimization by the end of Q2 2025. Current monthly expenses are approximately $1 million (of which, fun fact, 40% are taxes) with an immediate path to reduce this to ~$500K/month by the end of June.

As we are approaching our next significant milestones that prime the network for its next wave of growth, we are also significantly leaner, faster, and more focused on high-impact execution.

0/ On MultiversX, its future, and taking the lead

A thread, some fresh thoughts and perspectives. 🧵

– grab a ☕ of tea or coffee, it’s a bit longer than a tiktok vid – 1/ Some ideas we’ll cover:

1. 2024 – the year of the grind
2. xPortal & xMoney – next steps, direction and strategy
3. MvX – the big upgrade:

(a) US focus and priority

(b) Roadmap for 2025: Shard. Increase bandwidth, reduce latency

(c) Big network speed upgrade – sub-second finality – coming live 2025

(d) Economics & funding upgrade: big upgrade to be proposed, shared, discussed Q2/Q3, embedding growth at the heart of the network

(e) Interoperability & Lightspeed Chains (prev Sovereign Chains): Lightspeed kit will be ready at the end of Q1, one strategic Lightspeed Chain launch primed for 2025

(f) Introducing a dynamic North Star: driving immediate focus, coordination, alignment, through “Global Autonomous Markets”

4. Concluding thoughts: on building, investing, contributing to extraordinary value creation

Unlocking Compelling Blockchain Benefits for Department of Government Efficiency and US Economy 🇺🇸

-- Brief proposal for @elonmusk , @DavidSacks , @realDonaldTrump --

🧵 Below I present a few immediate low hanging fruits that could streamline governance process, provide unforgeable transparency, and strong direct incentives to improve effiency.

Thus setting the grounds for tens or even hundreds of billions in taxpayer money being saved.

1/ Let there be a fundamental principle we call Ben's scaling law:

Any sufficiently advanced and scalable system — whether in nature, society, or computation — must by necessity, be sharded.

Conversely, any non-sharded system is bound to break down and fade into irrelevance.🧵 2/ Blockchains are but an inescapable reinforcement of this broader general principle.

To claim scaling without parallelization is to be confined to an intellectual flat earth, failing to grasp the unavoidable limitations of one's own absurd assumption.

1/ A significant step has been accomplished. 2 years in the making.

@UTRUST and @twispay are officially evolving into #xMoney.

But what does this all mean?

xmoney.com 2/ In October 2021 we announced the @twispay acquisition, because we believed that payments could be one of the most effective use cases that could take blockchain technology mainstream significantly faster if executed well.

A new vision is forged for xMoney @UTRUST.

Reimagining what money should be in the digital age.

Significant progress, adding up, powered by @MultiversX.

Remarkable initial milestone: first @xPortalApp card production test. 🔥 To share the great progress we’ve made together with the different teams involved, & unveil instrumental new steps and product updates, a date update and recalibration is required.

In fact, to enable a maximally effective launch blast and experience, we propose 3 specific dates:

So it begins 🔥

The @xPortalApp is here. The most exciting journey we’ve ever embarked on.

Finance, Web3, friends, AI avatars, the Metaverse and more - all brought together on @MultiversX & #EGLD.

Time to jump in.
xportal.com 2/ First and foremost, this is about reimagining how we experience the digital world.

It is the result of years of relentless effort and innovation.

To bring forth the xPortal vision.
And make it accessible to anyone, anywhere.

Everything is set and we're almost there.

A new powerful adoption path is unfolding for @MultiversX & #EGLD. 🔥

Here's the @xPortalApp launch plan summarized.

multiversx.com/blog/xportal-t… 2/ Here’s how the transition will take place:

(a) - 13:00 UTC: Migration begins: Maiar profiles and data stop working, and Maiar will prompt you to update the app. xPortal becomes available in app stores (both iOS & Android) and everyone can update.

The @xPortalapp is amazing. It’s all coming together.

A massive step forward unlike anything we've ever done before @MultiversX.

And at the same time, a new and remarkable beginning.

A short proactive status update. This is the fruit of relentless effort that finally comes to light.

It brings the best features, functionalities, and utilities. All in one SuperApp.

But this release is different.
It’s one where the community is directly involved.

With it, a new challenge begins.

The new @MultiversX Explorer is here. 🛠️🔥

New features. New metrics. New insights.

Open. Transparent. User-friendly.

Ready for the next growth phase.
explorer.multiversx.com 2/ New features & metrics.

The fully redesigned dashboard includes new daily stats, developer-focused metrics and apps, NFTs, and token breakdowns.

@Voster_ At every point in time, we choose to see the good in people, to build w/ those who build, to give each a chance to show what they're made of.

Some will try, struggle, and fail. Some, will scam and rug. Some will reinvent themselves, and move forward whatever comes. @Voster_ Each is free to choose their own path, and live with it.

Big moment for the #MultiversX Ecosystem.

Designed and worked on for months. Voted by the community. Now finally brought to life.

xExchange & MEX 2.0 launch has begun 🔥

xexchange.com 2/ At the core of it: active & long-term contributors.

Expanding the utility and bringing a strong value accrual mechanism that aligns exchange usage & growth trajectory.

2023 is for #MultiversX 🔥

Opening a bridge to new worlds.
Utility. Value. Adoption.
Reimagined. $EGLD

One step at a time.

⌛️xExchange & MEX 2.0
⚡️xSpotlight
⚡️xExplorer
⚡️xWallet
⚡️xBridges

⚡️xPortal
⚡️xWorlds
⚡️xFabric

⚡️xMoney fiat & crypto

Build it, results will come 💣 2/ Let’s take each of them.

Add some tentative directional timeframes, and put things in perspective.

What, and when.

1/ Today, we present the Maiar DEX upgrade & transformation to xExchange.

Months of endless efforts.
From many people and teams. All leading to this point.

So now, here's the economics, utility, & mechanics of MEX 2.0 🔥

Important step for #MultiversX.
elrond.com/blog/maiardex-… 2/ First, note that all Elrond products are about to feature a significant upgrade as they expand and enter the next growth phase. A phase we call #MultiversX.

One, after another.

Revealing new and exciting steps on this journey.

1/ X Day Paris was electrifying.
It was fresh, and memorable.

The emotion, the people, the progress.

So, now -- what is #MultiversX ?

And why is it -- perhaps -- remarkable, as an evolution to @ElrondNetwork ?

A thread. On blockchain, Web3, the Metaverse 🧵 I - INTRO TO A NEW WORLD

Maiar Login 2.0 is LIVE!

Enhanced user experience. More powerful features. Improved connectivity.

Significant step forward for the $EGLD Ecosystem 🔥

Here's what you need to know before you update 🧵 2/

What’s new?

⚡ Improved connection stickiness
🔢 Multiple Active Sessions
💡 Sessions are active for up to 7 days
🎛 Updated Session Management
📲 Full Maiar functionality while being connected to multiple dApps

1/ New Elrond and Maiar DEX update.

All hands on deck.

Getting close to enabling DEX frontend and API send function.

Amazing progress and support from the community.

Here's the current status and next steps. 2/ First, the bug has been solved.

Two mainnet upgrades have been proposed and adopted by the Elrond validator community.

All focus in the meantime has gone into verifying balances, and full testing in preparation for the Maiar DEX restart.

1/ The recovery plan is complete.

Here's the current status on the Maiar DEX, and important next steps.

Challenges may inevitably come.

When they do, we focus all our energy to rise up, and push forward. 2/ First, some simple things.

Building anything of value is hard.

Sometimes what you build breaks down.

Still, building is very much worth it.

1/ Nothing is built without hardship and difficulty.

This we have always recognized & embraced at Elrond.

As problems emerge, we do what we always did.

Put all energy on grasping the problem, finding the most effective solution, & pushing forward as fast as we can.

https://twitter.com/beniaminmincu/status/1533658926557847552

2/ So here's the current status:

a. Last night we have identified a situation with potential security implications.

b. After a serious analysis we have identified that the best way to ensure user protection is to pause a few critical components such as DEX and APIs.

Reiterating, better context.

The @ElrondNetwork momentum superwave is closely followed by an ecosystem superwave. 🔥

Recursively reinforcing feedback loops spanning DeFi, Web3 and Metaverse. Shaping the next period of hypergrowth.

Why excitement about these specific projects?

https://twitter.com/beniaminmincu/status/1527957034997538818

2/ National Bank of Portugal has licensed @UTRUST to operate as a Virtual Asset Service Provider (VASP) in the European Union, broadening the capabilities of the #web3payments leader to include the custody & exchange of digital assets.

New features, new integrations, new growth.