Elrond is one of the most decentralized blockchains, with 3200 validators, which is only half the node count of Ethereum. As it is proof-of-stake, its EGLD coin offers staking rewards, up to 13% currently. Furthermore, Elrond team launched last year the Maiar Exchange allowing to yield farm with 100%+ APR, to which they have added the metabonding which allows to get airdrops on new projects. Last but not least, they recently added Itheum on the launchpad which is an additional way to earn more.
Could EGLD fly to the moon?
Unfortunately, it also has some weaknesses:
- There are not so many developers working on Elrond dapps (decentralized applications). Most of the developers work in the Ethereum and EVM (Ethereum Virtual Machine) environments. It is a real challenge for the Elrond team to attract talented developers into their ecosystem.
- As there are many other blockchains offering DeFi, like the EVM networks (e.g., Avalanche) and the Cosmos SDK ones (e.g., Luna), Elrond seems to be a bit isolated in its own ecosystem.
- There are only a few tokens proposed on their DeFi platform and there is only one DeFi platform (Maiar Exchange) so far, which is not a good sign for a decentralized blockchain.
Is EGLD worth investing in?
Nobody can seriously promise you that EGLD will pump again. It is a race, a competition between blockchains. If Elrond finally manages to attract enough developers to develop valuable dapps, and if they continue to focus on payment solutions with visible success, it will help them take off and will give value to the EGLD coin. Placing a small bet on EGLD could make sense. This is not a financial advice. If you want to invest a bit and earn your first free EGLD, you can use the referral link below:
