Fourty Two AG

150,000+ lines of code. 10,000+ engineering hours. 20 months of development. It's time to battle test Supernova. Battle of Nodes begins on March 11.

A New Dawn rises. Supernova marks the next evolution of the network. Engineered for speed, scale, and true decentralization. Five years ago, the first Battle of Nodes tested the limits before mainnet launch. An epic competition still remembered today. Now, the competition returns. Not a replay. A rebirth. Bigger, louder, and open to everyone. Validators, Builders, Users. A $100,000 $EGLD prize pool awaits those who push Supernova to the limits. Many will try. Some will succeed. Few will be remembered. Registration starts November 18.

Introducing: Battle of Nodes Side Quests Solo challenges inside the Battle of Nodes where anyone can compete. Complete social tasks, create content, earn points, and fight for an additional $EGLD prize pool.

@MultiversX @multiversxfndn @CodeMultiversX Happy birthday #MultiversX 🔥🚀✨❤️

Five years ago today, the first block on Mainnet was produced. Since then: → 1,824 epochs → 540M transactions → A global movement of builders and believers Here’s to what we’ve built. Here’s to what’s next. Here’s to you. 🎂🥂

We are delighted to announce that the HTM Booster and Accumulator are set to officially launch on Mainnet on November 27th. To keep our community engaged and well-informed, we have introduced a countdown banner within the Lending Protocol. You can track the countdown by visiting: app.hatom.com/lend These modules represent a significant milestone in our ecosystem, embodying our commitment to fostering fairness and equilibrium among liquidity providers, users, and investors. They have been meticulously crafted to consistently reward $HTM adopters with substantial benefits. As part of our Go-To-Market strategy, we have allocated an additional $500K $USDC for Booster Rewards and Accumulator, complementing the initial $3M $USDC Incentivization Program. This strategic move aims to maximize user engagement with the Booster and Accumulator. The reward distribution plan over the next 8 months is thoughtfully designed to ensure a steady and consistent flow, thereby enhancing the appeal and effectiveness of both modules. To ensure a smooth introduction of these modules, we have implemented a carefully structured bootstrapping phase. During this phase: Rewards will be progressively channeled into the booster: We are introducing a new batch of rewards, which is currently reflected in the high yields visible on the Mainnet App. It should be noted that the yields currently being displayed on the Mainnet will be accessible after the countdown and upon launch. Following the launch, and as $HTM is staked, we anticipate the APYs to stabilize. However, even with all lending positions fully boosted, the total APYs will remain impressively high. This strategic approach guarantees that, even six months from now, the rewards distributed will still surpass those of the past two months. This phase will also ensure a seamless transition and widespread adoption of the booster. In the initial months following our Mainnet launch, we distributed the following amounts in additional rewards, not including the Supply APY: Month 1: $390,000 in Additional Rewards. Month 2: $300,000 in Additional Rewards. Month 3: $230,000 in Additional Rewards. Month 4: $230,000 in Additional Rewards. Here's a breakdown of the reward structure for the next 8 months: P.S: To provide a clearer explanation, Additional Rewards are earned by simply adding funds as collateral, as is currently done. To receive the full Booster Rewards, you must have 10% of your collateral value in $HTM and stake it in the booster; if you have less, the rewards will be proportionally reduced. The Accumulator allows users to claim rewards in $HTM tokens with a 5% bonus. This strategy aims to boost the token's volume and buying pressure. Unlike liquidity mining, this Delta Neutral approach stabilizes the market by adding 5% to $USDC rewards, converting them to $HTM, and ensuring that even if users sell these tokens, it won't harm the token's market value. Month 5 (at Booster Launch): Total rewards: $451,500 • Breakdown: • $230,000 in Additional Rewards • $200,000 in Booster Rewards • $21,500 in Accumulator Rewards Note: This marks the highest incentivization month since our inception. Month 6: Total rewards: $346,600 • Breakdown: • $184,000 in Additional Rewards • $146,000 in Booster Rewards • $16,500 in Accumulator Rewards Note: 20% of rewards channeled from Additional Rewards to the Booster. Month 7: Total rewards: $294,000 • Breakdown: • $138,000 in Additional Rewards • $142,000 in Booster Rewards • $14,000 in Accumulator Rewards Note: An additional 20% has been added, bringing the total to 40% of rewards channeled from Additional Rewards to the Booster. Month 8: Total rewards: $262,500 • Breakdown: • $92,000 in Additional Rewards • $158,000 in Booster Rewards • $12,500 in Accumulator Rewards Note: An additional 20% has been added, bringing the total to 60% of rewards channeled from Additional Rewards to the Booster. Month 9: Total rewards: $255,150 • Breakdown: • $46,000 in Additional Rewards • $197,000 in Booster Rewards • $12,150 in Accumulator Rewards Note: An additional 20% has been added, bringing the total to 80% of rewards channeled from Additional Rewards to the Booster. Month 10: Total rewards: $247,800 • Breakdown: • $246,000 in Booster Rewards • $11,800 in Accumulator Rewards Note: An additional 20% has been added, bringing the total to 100% of rewards channeled from Additional Rewards to the Booster, marking the completion of the transition. Months 11 & 12: Total rewards: $241,500 • Breakdown: • $230,000 in Booster Rewards • $11,500 in Accumulator Rewards Rewards Transition: By the tenth month, which is six months from now, booster rewards will completely replace the additional rewards. This change will benefit only those staking $HTM in the HTM booster. For those who do not stake $HTM, earnings will be limited to the Base APY, which is generated from lending and borrowing activities. Incentivization Continuation: By the twelfth month or eight months from now, the current incentivization structure will conclude. However, lending activities will still receive incentives. The key change will be in the source of these incentives. Instead of relying on treasury or liquidity mining, which are common but not always sustainable methods in this space, we will shift to funding these incentives from revenue. Achieving Sustainability and Balance between Liquidity Providers, Users and Investors: • Current Financial State: Currently, revenue from the lending protocol and liquid staking accounts for 60% to 70% of the total monthly incentives. This percentage is subject to change based on the volume of liquidations, borrowing activity, and price fluctuations. • Role of USH in Revenue: The introduction of $USH is anticipated to be a major revenue contributor to the Ecosystem. Aiming to fully support the lending protocol's incentives, the plan is to allocate 10% to 20% of $USH's revenue for this purpose. This strategy is designed to eliminate the need for funding from the treasury or liquidity mining programs while maintaining comparable incentive levels. • Adapting to Market Changes: The Ecosystem is structured to be responsive to changes in TVL and asset price variations. Notably, 90% of the revenue from all our protocols is generated in $EGLD. This setup ensures that revenue increases in line with TVL growth, aiding in the maintenance of a consistent stable APY. For example, if the $EGLD money market has a Net APY of 5%, it will remain consistent, regardless of whether the TVL is $150 million or $5 billion. As, for money markets like $USDC, $USDT, and others, a rise in rewards for the volatile assets ( $EGLD ) will result in improved APYs, thereby enhancing their liquidity. • Future Plans for Incentives: Upon achieving a sustainable state, we plan to transition from distributing incentives in $USDC to $EGLD, which is more volatile. This shift is expected to stabilize the APYs offered through additional rewards, even amidst diverse asset price changes. For instance, an increase in $EGLD's price would correspondingly raise the value of the incentives, thus maintaining stable APYs. Additionally, users will have the option to claim these rewards in $HTM for a 5% bonus, further enhancing incentive value. The strategy we have implemented is designed to maximize our potential for success. Consider a scenario in which the market experiences a positive trend, with $EGLD achieving new highs or surpassing previous records. With the Booster, the TVL we achieve will always be tied to the $HTM token, as users will be required to stake it in the Booster to receive the rewards. Through the Accumulator, we expect to generate noteworthy trading volume for the $HTM token, while applying significant buying pressure, as the rewards will be converted to $HTM to receive that additional +5%. The combination of a substantial TVL and increased token trading volume opens up various possibilities for the future, including Tier-1 CEX listings. By overseeing all these high-revenue-generating protocols, we can strategically allocate resources from one to another. This flexibility is crucial because, while one protocol may generate more revenue, another might be pivotal in providing the core utility for the initial product, highlighting the intricate balance and interdependence within our ecosystem. This is why our ecosystem is unique. The current iteration of the Booster is not its final one. Upcoming upgrades are already scheduled to allow users to deposit even LP tokens and farmed LP tokens, obtained by providing liquidity for $HTM pairs on Dexes, into the Booster, counting only the $HTM weight at all times. This model aims to deepen market liquidity and offer three benefits: enhanced yield in the lending protocol and incentives for liquidity provision, along with governance power. Furthermore, the HTM Booster will be integrated into our validators' scoring system, introducing a staking-based framework that encourages competition among them to receive more delegations. This won't be limited to staking only 10%, as with lending incentives. That being said, the majority of the score will remain based on APR and Liquidity, ensuring that $sEGLD will consistently have an optimal APY. $HTM will also influence upcoming products, including $USH and the automated leveraged liquid staking strategy $xEGLD, improving users' yields and providing them with consistent advantages. If you truly understand the advantages we explain and grasp our vision, you'll realize that our approach has a strong chance of success where others have fallen short. Early believers in our project will be rewarded. If you think of $EGLD as the chain's Bitcoin, $HTM will certainly be its Ethereum, but at its inception. Just as Ethereum has many successful ERC-20 tokens, we need strong ESDTs like $HTM or $ASH to thrive for a successful network. With our plan, we are addressing numerous issues that others on different networks couldn't tackle, all while maintaining strong incentives and aligning users' and investors' interests with our protocol. The most challenging part is already behind us, and now it's a matter of time and consistent effort for the entire system to work together smoothly. Staking in the Booster will yield benefits for many years to come and this is just the beginning of something truly remarkable.

🥁🥁 We're thrilled to announce the Mainnet launch of both the Lending Protocol and Liquid Staking on July 16th, three days ahead of the end of the Public Sale. Get ready to witness the strong impact of these key DeFi building blocks, meticulously crafted over nearly two years on the blockchain, even before the public sale begins. The upcoming launch of #Hatom marks a significant milestone for #MultiversX , poised to redefine the DeFi landscape in the way we have all been anticipating. To ensure you are optimally positioned to harness the initial yields and explore the various DeFi opportunities enabled by $sEGLD with our over-collateralized lending platform, we recommend starting the process of Unstaking your EGLD to be ready by July 16th. To ensure a seamless launch, the Lending Protocol will debut with the following Money Markets: $EGLD, $sEGLD, $USDC, $USDT, $BUSD, $WBTC, $WETH, and $UTK. The Lending Protocol will enable users to finally explore a multitude of DeFi strategies while earning substantial incentives in blue-chip tokens. 🔥 Stay tuned as we are about to announce the largest Incentivization Program in #MultiversX's history. The specifics of this remarkable initiative will be disclosed tomorrow. This is designed to truly ignite DeFi within the blockchain, allowing for exponential growth of projects as all DeFi pillars will now be operational. 🎉 The countdown has begun! Visit our app at app.hatom.com/lend to stay in the loop and be the first to experience the upcoming protocols.

@SamuelScmidht @xSafeapp 4 Also I let you know. The Staking smart contracts are owned by MultiversX and not the Staking Providers. It simply does not make any sense to spread a small amount of EGLD you want to stake to many Staking Providers. I hope I answered your question 🙂

@SamuelScmidht @xSafeapp 3 But the height of rewards is the same. APR is the percentage indicator that tells you how much your staked EGLD will grow in one year. When you stake 10 EGLD and the APR is 8.7%, you can expect 0.87 EGLD as rewards for the whole year.

Here is a story of how to manage funds with @xSafeapp fourtytwo.com/2023/02/23/xsa…

Hello xSafe, Here is our first look at your brand new app. fourtytwo.com/2023/02/23/xsa… Congratulations 🎊

@HatomProtocol please find our application for Staking Provider in Phase 1 well 😉🌟🎯

@Justin_Bons EDLD has on chain governance already. One big decision was made in December through the community to decide about MEX token economics. multiversx.com/blog/governanc… docs.xmultiverse.org/ecological-eco…

11/15) 46. FLOW is technically decentralized (single client & lacks on-chain governance) 47. SAND is technically decentralized (lacks on-chain governance) 48. EGLD is technically decentralized (single client & lacks on-chain governance)

1/15) Out of the top 50 cryptocurrencies; only 32 are technically decentralized Even though decentralization exists on a spectrum, we can draw a line in the sand & give a yes or no answer Keep in mind what is true technically might not be true in practice! Here are the top 50:

@AdrianDobrita "Crypto zombies tutorial discussion + start implementation into Rust" Cryptozombies.io ? Would love to see #multiversx tutorials there. Let us know if we can help.

17/ - Set of reviews in contracts, VM, VM-common, chain-go - Update internal system test scripts in order to support singlesigners and multisigners nodes - Crypto zombies tutorial discussion + start implementation into Rust

The MultiversX Virtual Machine is now the home for 4602 SCs. Besides a better security design, perhaps the fastest execution environment & low storage fees, it also acts as a built-in funding mechanism via 30% gas fees paid to SC deployers as royalty. Weekly #MultiversXtech

@Davyegld You will meet many partners, projects and companies building on Elrond during #xday even when they aren't announced separately.

One of the first promotional videos about #XDAY talked about 40+ partners. But from the #Elrond event website I can only see 21 of them. How is it possible? We'll see more of them at the event or announced these last 2 days, or it's another communication/marketing mistake?

The team of Elrond Network is steadily improving, tweaking and tuning their protocol implementation.fourtytwo.com/2022/10/21/elr… #Elrond #egld #Elrondblockchain #elrondteam

Maiar Login 2.0 is LIVE! Enhanced user experience. More powerful features. fourtytwo.com/2022/10/20/elr… #Maiar #Elrond #egld #Maiarwallet #ElrondBlockchain