Elrond ($ERD) joins as BEPSwap Launch Partner

Elrond, a scalable value transfer protocol, is joining the BEPSwap Platform to provide liquidity to ERD token holders.

THORChain

Published in

THORChain

4 min readAug 28, 2019

BEPSwap

BEPSwap was announced on 10th of July 2019 as a new way to swap and stake BEP2 assets.

BEPSwap will allow any BNB or BEP2 holder to swap BEP2 tokens at market prices — instantly from their wallet. They do this by sending their tokens into pools containing liquidity, which performs the swap instantly based on the ratio of assets in the pool.

This means anyone can maintain the liquidity of the pool and be incentivised to ensure it matches fair market price. This pool becomes a source of a trustless on-chain price feed, free from manipulation because no one can move the price without the market reacting.

Elrond

Elrond is a scalable value transfer protocol for the digital economy with 10,000 TPS, minimal latency and negligible fees. Elrond uses four key breakthroughs to achieve this, summarised below:

ADAPTIVE STATE SHARDING

Elrond architecture goes beyond state of the art and can be seen as an augmentation of the existing models, improving the performance while focusing to achieve a better nash equilibrium state between security, scalability and decentralization.

2. SECURE PROOF OF STAKE

Elrond eliminates the need for intensive PoW consensus algorithms and proposes a novel and more robust Secure Proof of Stake consensus, enhancing intra-shard communication and pruning the blockchain state to the most essential.

3. DECENTRALIZED

Elrond introduces an improvement which adds security and reduces latency, allowing each node in the shard to determine the members of the consensus group (block proposer and validators) at the beginning of a round. This is possible because the last block’s aggregated signature is used as the randomization factor.

4. COMMUNICATION

The Elrond Virtual Machine’s implementation will hide the underlying architecture isolating the smart contract developers from system internals ensuring a proper abstraction layer. In Elrond, cross chain interoperability can be implemented by using an adapter mechanism at the Virtual Machine level. This approach requires specialized adapters for each chain that is non EVM compatible and wants to operate with Elrond.

Elrond is built by a team of experienced entrepreneurs along with 13 engineers and researchers with significant blockchain backgrounds and technical experience at Microsoft, Google, Intel, and NTT DATA. The team includes two PhDs in CS & AI, multiple math, CS, and AI Olympiad champions, and a former member of the NEM core team.

Elrond on BEPSwap

Elrond is powered by the $ERD token which requires deep liquidity in order to be useable across the network. The ERD token is bonded by validators to secure the network and thus must have excellent price discovery.

As such, ERD is listed on Binance DEX to allow a wider market exposure and is an excellent project to join the BEPSwap platform.

Additional benefits include:

THORChain will acquire off the market ERD tokens between now and the launch in order to bootstrap the Elrond pool.
THORChain and Elrond will work together to promote the ecosystem.
Elrond will be able to stake some parts of their treasury into the pool to offer even more liquidity to token holders.
ERD token holders will be able to stake ERD tokens in order to earn on trade commissions every day.

BEPSwap is scheduled for public beta in 4–6 weeks.