On Monday May 12th, Beniamin, CEO of Elrond, set up a 1 hour ‘Town Hall’ video conference to cover several important subjects and update the community on Elrond's progress. Here is a quick summary of the event:

Beniamin talked about the relentless focus of his team noting that they are working even harder than before in order to deliver finished and working products. “Building new things will bring new opportunities and it’s what we are doing.” 

Beniamin also reminded the audience that doing your own research will bring you more insights than following other people’s due diligence. 

Many discussions regarding the actual situation in the world (war) were covered, along with infos on the recent situation with Luna and the UST stablecoin, and how the situation was handled. 

With all the work pushed forward during the last few months, Beniamin is confident that this will lead towards being amongst the top 10 blockchains. He and the team are proud to say that their network is very stable and they had 0 downtime.

a new MEX economy is coming. They managed  to solve problems that others had never solved before. It might be out in 1-2 weeks.

it was shared that the tweet that was made to ask feedback from the community was really helpful

He teased new features for the Maiar DEX and that these new utilities will make the exchange very valuable.

Beniamin noted that in the last weeks a lot of hacks happened to other blockchains because of their bridge, hence why it’s important for the team to be diligent.

They did a lot of ‘Battle of Yields’ in addition to several updates to fix bugs and add further security measures to their processes.

He said the Bridge is coming “very very soon”

Beniamin first mentioned that NFTs are really interesting on Elrond and very useful in terms of utility and what they can bring to the ecosystem and also solve real world problems.

He stated that the actual marketplaces provided a lot of suggestions, helped a lot and led the way. The official Elrond NFT marketplace will not compete but complement the existing ones.

It was mentioned that Elrond NFT marketplace is a new lego block that they want to integrate to the ecosystem that will be very useful for builders. 

Beniamin mentioned that In the next 2 weeks they will add new projects to this program, and that they have a lot of projects in the pipeline

A really big and important moment for Utrust and its ecosystem will be on its way soon.

New services will become available that have not been tapped into before.

The Itheum token launch was an exemplary event for the Elrond ecosystem and the crypto space in general. The focus on solving the most difficult things made them create an exceptional ‘Price Discovery’ mechanism and they are surprised this wasn’t attempted before.

He also admitted that the KYC process was painful and that they are still looking for solutions/options.

Beniamin also talked about Holoride building their first Audi launch in June this year

it was also shared that there will be many more launchpad projects, and that this operation will continue to grow, and that the Maiar Launchpad will continue to be a place for new projects to launch their ideas

Beniamin also pointed out that if you are staking EGLD, you are doing the right thing

Beniamin noted that the team is looking at what happened with Luna and UST and are looking to learn from the problems they observed

The team is working on this topic internally and looking to find the best solution, but this is not something that will be done in the short term.

Last but not least, Beniamin also mentioned that they are preparing materials for absolute beginners to crypto and Elrond, so they can find all the keys to learn about the ecosystem from the ground up. They really want to push the community side of things and provide Elrond believers a great opportunity to interact with each other - of course this point makes us particularly happy, as that is the main aim of egld.community 😃  

To conclude, Beniamin mentioned that we will now enter the “Growth Phase” of the Elrond project.

Beniamin's Town Hall recap

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Beniamin's Town Hall recap