What is Elrond?
Co-Founded in 2017 by the Mincu brothers, Beniamin and Lucian, alongside Lucian Todea, Elrond acts as a blockchain network trying to solve the blockchain trilemma. Using a new sharding technique known as the Adaptive state sharding, it can improve its entire transaction per second. This is why it can perform 260,000 transactions in one second. Furthermore, unlike most protocols in its category, Elrond also uses a different consensus mechanism called the Secured Proof of stake (SPoS).
The Elrond token
On a year-to-date basis, Elrond has increased from $9 to over $220. With a market capitalization of $7.6 billion, it is the 36th most significant token globally. Thirty-two million tokens will ever be minted, and two-third of it is already in circulation. 55% of this 21 million (two-third) are locked in staking rewards and will be released over the next ten years. Elrond's token is called eGLD, and it can be used for staking and rewarding validators. It is also used as gas for the protocol, and on some specialized wallets like the Maiar wallet, eGLD can be borrowed and lent.
Should you buy Elrond?
Elrond has competed favorably with many tokens tagged "ethereum killers," although it has not been able to go head-to-head with Ethereum itself (has anyone been able to?). If there is any reason you might consider buying Elrond, it would be for their many partnerships in the crypto ecosystem. To improve collateralization, Elrond partnered with Ardana. Elrond partnered with Panther protocol to add interoperable privacy; in a bid to be a settlement layer on apps, a symbiotic partnership was made with Cudos. There is strength in numbers, and Elrond's partnership might be advantageous in the coming years. Elrond is looking to build a stable coin called the Elrond standard digital token (ESDT), but the eGLD will remain the platform's utility token.
How to get an instant Elrond loan
Don’t sell your EGLD. Use it as collateral for an instant crypto loan and get up to 90% of your collateral’s value in a variety of currencies. We have EGLD to USD loans, EGLD to EUR loans, EGLD to GBP loans, EGLD to CHF loans, and stablecoin loans as well. Simply deposit EGLD today, choose a loan plan – or create a custom one yourself – and you’ll receive up to 30,000 in a currency of your choice in seconds.
How to borrow Elrond - How does it work?
With our Crypto-Backed Loan service, you can borrow BTC, USDT, USD, EUR, GBP, or CHF only. That means if you want to borrow EGLD you first must convert one of the above to fiat and convert it to EGLD using our exchange service.
Elrond loan calculator
You can use our EGLD loan calculator with different loan plans to find the best option for you. You can see all parameters on the form such as loan duration, price down limit, and loan repayment. If you want to loan Elrond, please check the calculator first to see which plan works best for you.
Elrond lending process
Elrond lending is easy with YouHodler. Just open and verify your account, deposit your crypto to the wallet and use it as collateral for your future EGLD loans.
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