Validators process transactions and receive validator rewards (supply-side fees).

MultiversX is a smart contract platform for decentralized applications (a blockchain). MultiversX was founded by Beniamin Mincu and launched in 2018.

EGLD tokenholders own and govern the protocol. They currently take a cut of the transaction fees paid and give the cut to smart contract deployers (revenue).

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Blockchains (L1)

MultiversX

# MultiversX Token incentives Methodology

## 1. Overview

Token incentives measures the total value of EGLD tokens newly minted and distributed as rewards by the Elrond blockchain network each day. This metric tracks the daily inflation of the EGLD token supply through validator rewards, staking incentives, and other network-issued token distributions. The calculation aggregates epoch-level minting data from the Elrond network and converts it to USD values using market prices.

## 2. Data sources

The calculation relies on these core data sources:
- **Elrond network metrics**: Direct scraping of the Elrond blockchain network to capture epoch-level statistics including daily newly minted EGLD token amounts
- **Blockchain state data**: Block timestamps, block hashes, and previous metrics checkpoint references from the Elrond network
- **End-of-day price feeds**: CoinGecko price data for EGLD token to enable USD conversion
- **Token metadata**: EGLD token information including symbol and CoinGecko identifier mappings

## 3. Step-by-step calculation

### Component A: Raw epoch data extraction
- **Purpose**: Extracts daily token minting data directly from the Elrond blockchain network
- **Logic**: The system scrapes epoch-level metrics from the Elrond network, capturing the `daily_new_minted` field which represents EGLD tokens newly created during each epoch. Each record includes block timestamps for temporal alignment and block hashes for data integrity verification. The data is standardized with consistent chain identifiers, token symbols, and CoinGecko mappings for downstream processing.
- **Key fields**: `daily_new_minted` (raw EGLD token amounts), `timestamp` (block timestamps), `block_hash` and `previousHash` (blockchain state references)

### Component B: Daily aggregation and USD conversion  
- **Purpose**: Aggregates epoch-level incentives to daily totals and converts to USD values
- **Logic**: Block timestamps are truncated to daily boundaries using timestamp truncation to group records by calendar day. Token incentive amounts are summed across all epochs within each day to calculate total daily minting. The aggregated EGLD amounts are then converted to USD using end-of-day CoinGecko prices for the EGLD token. Business metadata including chain, market sector, and business segment classifications are added to align with standard metrics schema.
- **Key fields**: `token_incentives` (aggregated daily EGLD amounts), `daily_timestamp` (truncated to day boundaries), USD conversion applied via CoinGecko prices

### Final aggregation
- **Combining components**: Daily aggregated token incentives flow directly from the aggregation step without additional combination logic
- **Currency conversion**: USD conversion uses the `convert_to_usd_cg` macro with CoinGecko price feeds, applying end-of-day prices to daily token incentive totals
- **Time aggregation**: Daily boundaries are established by truncating block timestamps to day level, ensuring consistent 24-hour periods aligned with UTC time zones
- **Final calculation**: The final metric represents the total USD value of newly minted EGLD tokens distributed as incentives each day, with the `finalize_metric_token_incentives` macro applying schema validation and forward-filling missing dates with zero values to ensure complete time series data

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Value of native tokens distributed as incentives.

MultiversXEGLD

Token incentives

Token incentives

Competitive landscape