Important events
Jun 082022
Network troubles leaves Elrond in a slump
Elrond’s major decentralized exchange, Maiar, is forced offline due to an exploit, sending the token to yearly lows.- Maiar DEX was drained of a reported $113m worth of EGLD (Elrond’s native token). Initially the DEX went down on Sunday due to what Elrond CEO Beniamin Mincu called “suspicious activity” – now it seems, we know the reason why.
- The attack saw 1.65m EGLD withdrawn through a malicious smart contract that has many peeps scratching their heads. The stolen EGLD was then dumped – over 800k in fact (worth around $54m), which saw the price crater on Maiar DEX to go from $76 to $5.
- Thankfully, the price of EGLD on other exchanges wasn't as badly affected. That said, it has still fallen nearly 10% this week, and now trades at a price not seen since July 2021. Beniamin Mincu tweeted on Sunday that the folks at Elrond would give an update “soon” to hopefully quell investors’ nerves.
SIMON LEE / Unsplash
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Jan 122022
Elrond expands the fellowship
Elrond has recruited another member for its journey to the top, and the rest of the team seems to think they fit right in.- The token trekked upward by 7.4% on Tuesday to mark its second day in the green for 2022. It closed back up over $200 to somewhat recover from its 17% losses last week.
- It’s acquiring cryptocurrency payments company Utrust (UTKUSD), and the idea is to together create an alternative to traditional payments networks, which typically take a long time and charge super high commission fees.
- It’s betting big on Web3 payments, and the pair has plans to create a decentralized payments app called “Merchant Yield”.
Nov 232021
All eyes on Elrond
Altseason is in full swing, and a massive liquidity incentive program from blockchain platform Elrond sends its native token shooting upwards.- Elrond’s token is up over 81% in five days to hit record highs.
- It launched its Maiar DEX DeFi platform on Friday, which represents a massive push in DeFi adoption and came with a $1.29bn liquidity incentive fund to boost usage.
- It’s possibly the largest incentive program the market has seen to date, and the platform hopes to compete with the likes of UniSwap and SushiSwap.
Last week in $EGLD Downwards arrow
1/
Full moon symbol
@MaiarExchange
official launch
Water wave $1,29 Billion USD MEX Incentive Program
Left right arrow Elrond - Ethereum Bridge v1 USDC
Bar chart $1,9 Billion USD TVL on Maiar DEX
High voltage sign $2.5 Billion USD $MEX marketcap
🛠 Weekly #elrondtech