MultiversX’s mainnet has been paused for several hours. The team has just completed testing of the hard-fork recovery process on the testnet, and the mainnet recovery checkpoint is now ready. All on-chain transactions for $EGLD are completely stuck; deposits/withdrawals and the cross-chain bridge are temporarily unavailable.
This hard-fork recovery procedure is more complex than expected. Validator nodes need to follow a simplified recovery process, and the team is still coordinating next steps with exchanges and infrastructure providers. A mainnet pause at Layer 1 is really uncommon. The last chain to face a similar issue took several days to fully recover.
$EGLD has never been among the top in the Binance contract hotness rankings, but the level of attention in this incident is clearly beyond the circle of token holders. MultiversX has been pushing the RWA and chain abstraction narrative; if the recovery goes smoothly this time, it could become a renewed focus for capital. However, before the mainnet officially restarts, there is one key detail the team has not disclosed.
This hard-fork recovery procedure is more complex than expected. Validator nodes need to follow a simplified recovery process, and the team is still coordinating next steps with exchanges and infrastructure providers. A mainnet pause at Layer 1 is really uncommon. The last chain to face a similar issue took several days to fully recover.
$EGLD has never been among the top in the Binance contract hotness rankings, but the level of attention in this incident is clearly beyond the circle of token holders. MultiversX has been pushing the RWA and chain abstraction narrative; if the recovery goes smoothly this time, it could become a renewed focus for capital. However, before the mainnet officially restarts, there is one key detail the team has not disclosed.