JUST IN: MULTIVERSX EGLD IS ENTERING ITS MOST VIBRANT PERIOD 🔥
So, before taking a deep dive into the new economics, what are some of the key highlights from the US Foundry Session?
Can these steps bring the edge back to EGLD ?
Here's an overview and a few sharp insights. 🧵
1/ First, a brief glance at the past.
2/ Elrond / MultiversX was forged by fire.
Every step of the way, we have taken the road less traveled. Venturing beyond the well worn path.
3/ Elrond began with one mission.
And that mission, is now closer than ever to coming to fruition.
4/ So, what did we get done this year?
6 releases.
1.000.000 lines of code.
90.000 engineering hours.
5/ Let me translate.
This means:
3750 days
125 months
10.4 years
NON STOP. CODING THE MOST IMPORTANT UPGRADES SINCE ELROND GENESIS 🔥
6/ And while doing this, we cut and optimized 75% of costs.
Setting one of the most nimble, effective and relentless foundations in the space.
7/ Great! But toward what goal?
BUILDING THE MOST ADVANCED, PERFORMANT AND DECENTRALIZED BLOCKCHAIN NETWORK IN THE WORLD. 🐂
8/ Thus, we have reached a firm ground.
Where our teams behave more like a special forces unit than a foundation or company.
Relentlessly reinventing itself to be 10x leaner, and 10x faster than some of the other best teams in the world.
And we are very proud of this badge.
9/ Now, a glance more on the present.
10/ ONE BIG BREAKING MILESTONE, HAS BEEN XMONEY CLOSING A FUNDING ROUND, BACKED BY SOME OF THE BIGGEST PLAYERS IN THE WORLD. 🔥
We have initially mentioned this 6-12 months ago.
Now it is DONE and DELIVERED.
And max bullish for MultiversX EGLD. 🐂
11/ Great milestone! But why enormously bullish?
1. Funding closed.
2. Validation and credibility built.
3. Majority stake, significant upside.
4. One native stablecoin fully confirmed for MultiversX 🔥
MASSIVELY BULLISH AND MOMENTUM BUILDING.
12/ Now, let's get one step closer.
Undoubtedly the biggest upgrade we are shipping this year, is SUPERNOVA.
Except, SUPERNOVA is not simply an upgrade.
It is a re-architecture of the MultiversX.
To achieve unparalleled performance.
13/ Here's a glance at the SUPERNOVA efforts alone.
(you could argue that all releases this year were just a preparation for SUPERNOVA in reality)
80.000 lines of code
10.000 hours invested
1.1 human years
NON STOP. WORKING ON THIS ONE MODULE.
14/ And we are close. Very close.
With all focus poured to take it home.
Have it DONE and DELIVERED.
15/ Great! But why does this matter?
We have a rare convergence of technology, economics, community, and timing, reminiscent only of the Elrond Genesis days.
This is what we are marching toward.
16/ So does SUPERNOVA actually bring?
Performance - best in class scalability, speed, decentralization;
UX - just tap an action, and boom. It's DONE!
Impact - users, builders, investors, have one of the best technology stacks in the world to use, build on, and play with.
This is how SUPERNOVA resets the game.
17/ Wen wen wen, sir ???
We are fully on track to deliver this in Q4.
Santa will come early this year.
SUPERNOVA 🔥🐂
18/ So, who do we bring SUPERNOVA to life, and get it across the finish line?
BATTLE OF NODES. 🔥
Testing the limits.
With you, the builders and community.
100k USD in prizes.
November 4th. 👊
19/ Now, a brief glimpse at the future.
20/ Zooming out, what is a good north star for the next chapter of the network?
A constant shining light, offering a great focal point internally and externally, grounding conversations and aligning builders toward the same destination.
A way to capture the great progress made TODAY, and value the network's unique performance and capability with SUPERNOVA.
A way to capture the revenue, usage, value it can create and generate.
This is a fiber network for finance. 🔥
21/ Great! But what does this mean?
You can look at it in two simple ways.
Each standing to generate and capture enormous value.
1. The global financial stack, for money moving at the speed of light.
The infrastructure pipes for money on the internet. The transport and execution layer. Operating with unprecedented speed and scalability, just as the internet.
(hint: we may well say, we have all the pieces in this image, and putting them together, creates a surprising network effect)
22/
2. The global reserve stack, for tokenized assets.
A standard for global reserves, asset exchange, for tokenized assets around the world.
(hint: much of what is in the image, we already have live, with some pieces falling into place as we speak)
23/ Now, the elephant in the room. Economics.
Why is an upgrade vital?
SUPERNOVA IS COMING. 🔥
It will enable a fiber network for finance.
We need competitive incentives and firepower to plant the infrastructure pipes, in the most important market in the world.
Connect these pipes with real demand, global deals, material revenue, and significant usage.
This is what growth means. This is where everything we've built for the last 7 years, begins to shine.
24/ So, how do we approach this challenge?
Well, how we approach every challenge: with a clear and ambitious target, and a fresh perspective.
- Guided by 2 years of research, and some of the most insightful Nobel laureate work in the field focused on growth.
- Conversations with a counsel of the wise. Some of the top builders, and contributors in the ecosystem.
- Discussions with some of the top investors in the world.
Great! And what does the process look like?
Instead of rushing. We have set an unprecedented public form for presentations, dialogue and conversations.
Surfacing the best ideas and improvements.
Setting the ground to make EGLD the most robustly growing system in the space.
25/ Great! And what does the process look like?
Instead of rushing. We have set an unprecedented public form for presentations, dialogue and conversations.
Surfacing the best ideas and improvements.
Setting the ground to make EGLD the most robustly growing system in the space.
26/ Marching daily. Surfacing signal. Making progress.
Forging directing. Forging strength. Forging alignment.
27/ So what are some of the big questions?
Everything depends on them.
Once a good solution is found, a new growth chapter can begin for EGLD.
28/ Speaking of the United States, what does winning mean there?
It's 3 things.
All being effective tokens syncs, revenue drives, and buyback mechanisms for the EGLD economy.
1. Digital asset treasury deals (DATs)
2. Exchange traded funds (ETFs)
3. The US Labs structure
The US has invented the art and science of financial engineering, with an unmatched precision.
This is what EGLD needs. And what we must deliver.
29/ So, what is a Digital asset treasury deal (DAT)?
Is this one of the main and significant drivers behind the lion's share of Bitcoin growth during the last 5 years?
Can it be replicated, tapping into capital markets to accelerate growth for a new crypto ecosystem?
What is the effect of a highly capitalized company, listed on the New York Stock Exchange, whose sole goal is to acquire 70% of token supply from the markets?
These are some of the most pertinent questions.
And their answers give a glimpse of the demand-driven mechanics employed to engineer growth in the big league.
ps. Will write a separate thread on this alone during the next few days.
30/ Now, what is an Exchange traded fund (ETF) ?
Does it have the same function as a DAT ?
Does it tap into a different pool of capital, complementary to the DAT ?
Can it absorb even more supply side from the market, tapping into a different cohort of institutional capital?
Just a few pertinent questions.
That can move mountains for an ecosystem.
ps. A separate thread outlining possible demand sock amplifiers is in place.
31/ Now, some conclusions, wrapping it up.
1. We have began a marathon of dialogue and governance - to reach consensus on the most important economics upgrade to EGLD.
2. Battle of nodes - Nov 4th.
3. SUPERNOVA IS COMING. 🔥
32/ One more thing.
Agentic payments, on MultiversX.
A very fun and cool demo, of agentic transactions executed on the MultiversX network. 🔥
Lastly, it has been a remarkable few years.
Hardcore, instructive, exhilarating in many ways.
I want to deeply thank you for your support throughout the years.
If you've survived this long, I also want to congratulate you.
We are entering perhaps one of the most structurally bullish macro and fundamental periods for the crypto space.
It is now, that our collective action and support matter more than ever.
Together, we can move mountains to reach SUPERNOVA.
Forward! 🫡🐂
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