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MultiversX - Announcements
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📣 Live AMA with Beniamin Mincu & Lucian Todea

These last few days have been filled with excitement and announcements, and there is a lot more coming. Stay ahead of the curve and catch all the most important updates & next steps about the Elrond ecosystem straight from our CEO & COO.

⚡️ Join Beniamin Mincu and Lucian Todea for a Live AMA on Periscope

🕚 Friday 08 May at 11:00 UTC

👉🏻 https://www.pscp.tv/ElrondNetwork/
🌴 The Palm Tree Network joins Elrond as Genesis Launch Partner

The Palm Tree Network team has been a constant presence in the validator community, have contributed feedback and suggestions to the team, support to other members and even valuable tutorials for all to use, like their recent monitoring guide. Elrond is therefore happy to announce that The Palm Tree Network will extend their development and bootstrapping support beyond the Elrond Mainnet.

Battle of Nodes helps us discover more than just bugs in the code. It is an opportunity for our community to prove their knowledge, commitment and willingness to help us and each other. The Palm Tree Network team were amongst those who stepped up to the challenge in a very good way. We feel confident and proud to entrust them with operating nodes at Genesis.” said Lucian Mincu, Elrond CIO

Read more: https://medium.com/elrondnetwork/the-palm-tree-network-joins-elrond-as-genesis-launch-partner-staking-provider-49a5b187d03d

RT: https://twitter.com/ElrondNetwork/status/1258413424637288449?s=20
🗺 Battle of Nodes: A World at Consensus

Decentralization is a core value and metric for any blockchain. Elrond does it right straight from the testnet phase. An enthusiastic team of validators went the extra mile and mapped the validators supporting the Battle of Nodes public testnet.

🙏 Those are all nodes ran by community, in an un-incentivized manner. Thank you, Nodes team, you are the best!

👉🏻 https://medium.com/@staking.agency/hello-world-9402408fe58d
🌏 Genesis Smart Contract - Part 2

The 🎙 AMA with Beniamin & Lucian was a great opportunity to get the latest details about the mainnet bootstrapping process. We’ve put together the relevant numbers with detailed explanations in the 2nd part of our Genesis Smart Contract series.

📄 “At genesis all the delegations will go towards the Elrond foundational nodes. Whitelisted community nodes will put up their own stake, and Staking as a Service providers will temporarily receive stake delegation from the special Elrond company reserve.

There will be 1.005 foundational nodes run by Elrond and a fixed stake per node of 2.5 Mil ERD. The maximum amount of
$ERD possible to be delegated by the community before launch is 2.512.500.000 ERD (2.51 Bil $ERD)

👉 Read Genesis Smart Contract Part 2

📼 Missed the AMA? Watch the recording here (link)
🌍 Genesis Smart Contract - Part 3

The Genesis Staking process will start on Tuesday 12 May at 13:00 UTC 🕐 We designed it as a straight-forward process, with options for delegators and validators. Read the latest article in the Genesis Staking series to understand the details of the process.

📄Elrond supporters can stake their $ERD for 25% APR pre-Mainnet and 29% APR after mainnet. Battle of Nodes veterans can run nodes at Genesis & earn 25% APR pre-Mainnet and 36% APR after Mainnet.

The stakes & rewards will be claimed on the mainnet, in a native Elrond wallet address. It will be required as input in the Genesis Staking process. You can already create a wallet here
https://wallet.elrond.com/

👉 Read the entire post (link)
Last week in $ERD

Genesis Staking process: Announcement, Part 2, Part 3
📺 AMA with Beniamin & Lucian - re-watch
🌍 #elrondworldtour with our supply chain partner TailPath
💹 Elrond DeFi & Staking to be integrated with Frontier Wallet
🌴 New mainnet launch partner: The Palm Tree Network
🎙 Beniamin Mincu interview on the CoinGecko podcast
🗺 Elrond testnet map by Staking.Agency
🎬 Prestaking rewards have been turned off

As previously mentioned, the rewards in the Prestaking contract have been turned off at 13:00 UTC today.

Here’s how you can continue to stake:

Withdraw from the Prestaking SC at elrond.com/stake
Wait for the 7 days unbonding period
Deposit in the new Genesis SC, which launches tomorrow
🧊 Cold Wallet Support: Elrond Assets can be stored on NGRAVE

Elrond Network and NGRAVE have entered a collaboration which will enable assets on the Elrond blockchain to be safely stored in the Ngrave cold wallet solution. The native currency $ERD, stable coins such as the Binance $BUSD or any other token on our blockchain can be stored and accessed using this offline security option.

The internet has shown us that our identity, data & possessions can be at risk with improper security. Good security needs to exist both on the user side and on the system side. The Elrond blockchain solves the system side of the problem with decentralization, state of the art cryptography and thoroughly audited security. We’re happy to partner with Ngrave, who are addressing the user side of the problem in an elegant manner.” said Beniamin Mincu, Elrond CEO.

All about it 👇🏻
https://medium.com/elrondnetwork/cold-wallet-support-elrond-assets-to-be-protected-with-the-ngrave-security-device-85cc7a7bb437

RT: https://twitter.com/ElrondNetwork/status/1259862429762301952?s=20
💥 Genesis: The Elrond Bootstrapping process explained

Elrond begins in a calculated, transparent and secure manner 🔐 Our COO Lucian Todea explains what the process is and why we designed it like this. Pre-reading ahead of our $ERD Genesis SC, which debuts in 5 hours from now

👱‍ How to bootstrap a Proof of Stake blockchain in a transparent way, must-have & nice-to-have requirements, challenges and how Elrond is doing this 👇

Ideally at Genesis you need the token already issued and widely distributed if you want decentralization with staking and delegation enabled. You need a way for people to be able to #stake and register nodes in a public and transparent way before the actual Genesis. #nospreadsheets.

If you want anyone to be able to delegate, you need a way to let them delegate in a safe, intuitive and transparent way. If you want staking providers to join, they need a way to get delegations before the Mainnet and the delegation Smart contract is deployed.

The Genesis file based on which the first block is created (including info about staking nodes, delegations, minting, swapping, etc.) needs to be auditable (anyone could check and cross-check all the information it contains).

How is Elrond doing this?

To bootstrap the Elrond protocol in a transparent way, we will use a 💥 Genesis smart contract deployed on Ethereum, which will act as a bridge to the Mainnet, and will gather & mirror all necessary data for the Elrond Genesis block.

🖥 495 Nodes will be available for Community and Infrastructure partners. The Genesis Staking process for Validators will have a technical limit of 20 nodes per unique Ethereum address. Each node registration will include the BLS key and the Mainnet rewards address. APR is 25% before Mainnet launch and 36% after. For security reasons, before the Genesis, only pre-approved validators - Battle of Nodes veterans have priority - will be able to operate nodes and stake. Stake per node is fixed to 2.5 Mil $ERD before Genesis and dynamic after auction SC goes live.

🙋‍♂️ After the launch of the Mainnet, our next milestone will be to enable an auction mechanism which will determine the optimal stake/node ratio dynamically.

📊 Any $ERD holder will be able to delegate. No minimum amount required. Total overall delegation capped at 2.51 Billion $ERD: 1005 @ElrondNetwork foundational nodes * 2.5 Million $ERD. APR is 25% before Genesis and 29% after the Mainnet is live.

⌛️ Thus, Elrond will act briefly as a staking-as-a-service provider at the launch of the Mainnet. The next 3–6 months after the launch, the Elrond foundational validators will gradually decrease, until the majority of the network is community run. Staking-as-a-service providers will temporarily receive stake delegated from the Protocol Treasury reserve. Community nodes will put up their own stake.

The $ERD in the Genesis SC is burned & minted automatically in the Genesis Block, directly into the respective Mainnet wallets, which get credited /w stake & accrued rewards. So the swapping between ERD ERC20 token and the Mainnet (native) ERD is done automatically at Genesis.

🌐 The interaction with the SC is done through the Genesis staking website, which will be revealed soon. You will need the Metamask extension on your desktop browser, $ERD (ERC20) and some ETH for gas. Mainnet rewards address can already be created here: https://wallet.elrond.com. Although the wallet at the mentioned address is connected to the Elrond Network testnet and not to the Mainnet, this address is going to be perfectly usable when the Mainnet is launched.

🔐 Please backup your private key and your seed words in a safe location. If you lose the private key for this address, you will NOT be able to access your delegated or staked funds, once the Mainnet is live. Never share your secret phrase or private keys with anyone.

As we release the Genesis Smart Contract today, another important piece is put in place for the launch. The Elrond Mainnet Genesis is coming & you can be a part of it.

💥 See you on the other side.
💥 The Elrond Genesis Staking is live

You can now go to https://genesis.elrond.com and start the Genesis Staking process.

Cheatsheet:

🌍 Create an Elrond wallet
🦊 Have your Metamask wallet ready
💎 Have your $ERD & gas fees in it
🌐 Follow the website instructions
🦸‍♂️ Be a hero in the Elrond story

👌 There are no silly questions when it comes to your own assets. We will do our best to answer any inquiry.

⚠️ Validators: no addresses from the Whitelist form have yet been added - it is not an automated process. Thank you for your patience.

The process is covered in detail in our blog post (link). Be sure to read it and the included FAQs, as they will offer useful guidance in the process.

RT: https://twitter.com/ElrondNetwork/status/1260333740678623238?s=20
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Testing underway: $ERD app for Ledger Nano S

🛠In development mode only (not recommended!), pending approval to be included in an official firmware update.

Due to popular demand, we offer a rare preview 👀

RT: https://twitter.com/ElrondNetwork/status/1260981025146114050?s=20
💱 The $ERD/$BUSD trading pair is now live on Binance

Soon after the announcement that the $BUSD stable coin will be released on the Elrond blockchain, we follow-up with the new trading avenue for the Elrond token. You can now exchange the $ERD token against the Binance stable coin on our partner’s CEX.

Start trading: https://www.binance.com/en/trade/ERD_BUSD

RT: https://twitter.com/ElrondNetwork/status/1261205024249720839
🦾 Last week in $ERD

💥 Genesis Staking process launched
👌🏻 Prestaking rewards process completed
💱 Binance CEX new trading pair ERD/BUSD
🧊 Ngrave hardware wallet partnership & AMA
👨🏻‍💻 Ledger app for Nano wallets testing underway
🛠 Technical releases v1.0.115 & v1.0.116
Elrond team ranked 2nd in Romania, after $7bn 🦄 UiPath

TheOrg recently published a Top 10 list of the best teams in the Romanian startup scene. Our capital Bucharest has recently been ranked as the best city for remote work in the world, because the availability of relevant infrastructure, such as awesome broadband. We tap into that great resource a bit more upstream at Sibiu, and are proud of our culture of getting things done.

The recent period of time has seen all of us pull together even harder than we thought possible, which translates into visible progress. We think the Elrond team is second to none, but we appreciate the very good article and we encourage you all to read it. Here’s a sneak preview:

After more than two years of strong development, the next step will be the official launching of this network and product that we are building. We aim to bring the next big wave for blockchain technology adoption and by the end of this year we hope to have more than 1 million people who use this platform to make transfers all over the world immediately at a much smaller cost.”, says Beniamin, who compared their product with the step made from dialup to broadband internet.

Check out the full article on https://theorg.com/news/the-top-10-startup-teams-in-romania
💥 Genesis Staking update - 2.78bn $ERD deposited so far

🤝 2.3bn as Delegators - 91% of cap
🖥 0.48bn as Validators (194/495 nodes)

833 staking transactions
🐋 Largest: 112mn
🐬 Average: 3.47mn
🍤 Smallest: 1.304
💬 236 support chats
📺 609 Video guide views

Delegate now: https://genesis.elrond.com
📊 Binance Trading Competition - $50k prize pool in $ERD

Binance and the Elrond team have committed a total of 50,000 USD in ERD tokens as prizes to celebrate the successful launch of Elrond Genesis Staking and the recent addition of ERD/BUSD trading pair.

Participants can join the trading competition & earn rewards for staking. First-time Binance users joining the event will enjoy a 10% trading fee discount.

Join: All new users that register on Binance using this special referral link will enjoy a 10% trading fee discount.

💱 Trade: All users with a total trading volume of 500,000 ERD or more (including both buys and sells) across the ERD/BTC, ERD/USDT, ERD/BNB, ERD/BUSD trading pairs will equally share a prize pool of 50,000 USD in ERD tokens.

👉🏻 Read the full instructions & join the competition: https://binance.zendesk.com/hc/en-us/articles/360043447612

RT: https://twitter.com/ElrondNetwork/status/1263077432493510657?s=20
🇰🇷 Elrond in South Korea: 안녕하세요 ERD ecosystem!

The crypto space is an international scene that transcends boundaries, language and culture. Participants share a vision of the new economy and an internet that nobody owns.

Be that as it may, South Korea stands out - passionate about crypto but with a strong local culture.

Elrond has been covered in detail (http://inthenews.co.kr/article-49694/) in Korean and translations to articles and posts have been getting increased exposure, thanks to the success of our local supporters.

🎌 We want to extend our gratitude and appreciation to our local community and partners for gearing Elrond to be great in South Korea.
💱 The Binance trading competition is live - $50k prize pool

The Binance trading competition is well on its way. Trade a total of 500k ERD in buy + sell orders in the next 7 days and join the $50.000 USD prize pool. Trades on all $ERD pairs listed on Binance - BUSD, BTC, USDT, BNB - add up to the competition trading goal.

📆 Competition duration is 7 days: Thursday 21 May 0:00 UTC - Wednesday 27 May 23:59 UTC

🤝 Get a 10% discount on trading fees by registering a new Binance account using this link 👈🏻

🏆 Check out the ranking list (updates every 24 hours)
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🌐 Introducing the new Elrond Blockchain explorer

Block explorers need to provide information about the health of a network, its infrastructure and the operations happening on it. Ours was already doing a great job with that and we think we can improve it further. We are now happy to unveil the latest features.

🗺 A realtime map shows Elrond blockchain nodes around the globe. Check out how spread out Elrond is, already before the mainnet!

💫 Multiple nodes that are maintained by the same operator are grouped & branded

📊 More features for quality of life for developers and validators

The 💥 Genesis Block will be minted in good company.

👉🏻 https://explorer.elrond.com