Pell Network x MultiversX：Unlock the Full Potential of $EGLD

In a landmark collaboration that promises to reshape the blockchain ecosystem, Pell Network, the first Omnichain BTC Restaking Network, has partnered with MultiversX, a cutting-edge sharded blockchain platform. This partnership brings a revolutionary opportunity for eGold (EGLD) holders — the native token of MultiversX — to restake their assets on Pell Network, enabling them to earn additional yields while fully unlocking EGLD’s potential.

This integration not only boosts the economic value of EGLD but also contributes to enhancing the cryptoeconomic security of MultiversX’s ecosystem, marking a pivotal moment for the blockchain and decentralized finance (DeFi) industries.

Introduction of Pell Network

As the first Omnichain BTC Restaking Network, Pell Network is at the forefront of expanding Bitcoin’s utility and bring cryptoeconomic security to BTCFi. Pell’s mission is to revolutionize cryptoeconomic security by creating a marketplace where restakers (users who restake assets for additional yields) can collaborate with Decentralized Validated Services (DVSs) seeking robust security.

1.1 How Does Restake Work in Pell Network?

At its core, Pell Network allows stakers to restake their BTC or BTC-derived assets (such as LSTs) to provide cryptoeconomic security for decentralized services. These services, known as DVSs, include oracles, cross-chain bridges, and DeFi infrastructure. The restaking mechanism enables stakers to maximize the utility of their assets by contributing to a shared security model while earning additional rewards.

1.2 Key Players in Pell Network’s Ecosystem

a. Restakers: The Security Providers

Restakers are at the heart of Pell Network, providing the cryptoeconomic security required to support DVSs. Here’s how they function:

Restakers lock their BTC or BTC LSTs in Pell Network. Instead of solely securing a single PoS network, these assets are “restaked” to provide security to multiple decentralized services.

• Restakers delegate their assets to node operators or run their own nodes to secure DVSs.
• By participating in the network, they earn additional rewards, including fees generated by DVSs.
• Restakers maintain control over their asset allocation by opting into specific DVSs based on their risk appetite and reward preferences.

b. Node Operators: The Validation Service Providers

Node operators are critical to Pell’s ecosystem, ensuring the smooth operation of DVSs and upholding network security.

Node operators are individuals or organizations that provide the infrastructure required to execute DVS tasks. They manage nodes, validate transactions, and enforce the slashing conditions set by DVSs.

• Operators accept delegations from restakers and pool these assets to secure one or more DVSs.
• They are responsible for executing DVS-specific smart contracts and maintaining compliance with predefined security rules.
• Operators are incentivized through fees and rewards generated from the DVSs they support.

To ensure accountability, operators are subject to slashing penalties for malicious behavior or negligence. This creates a trustless system where both restakers and DVSs are protected.

c. Decentralized Validated Services (DVSs): The Beneficiaries of Restaking

DVSs are the decentralized applications, protocols, or services that rely on Pell Network for economic security.

DVSs can include any infrastructure project or service that requires secure, decentralized validation. Examples include cross-chain bridges, oracles, and DeFi platforms.

• DVSs opt into Pell’s shared security model, leveraging the economic security of restaked BTC and LSTs to protect their networks.
• Operators perform validation and execute tasks for these services.
• DVSs set their own slashing rules to deter malicious behavior, creating an additional layer of security.

Benefits for DVSs:

• Cost-efficient access to high-quality cryptoeconomic security without the need to build and maintain dedicated security networks.
• Increased scalability and interoperability through Pell’s omnichain framework.

Unleashing EGLD’s Potential Through Pell-MultiversX Integration

At the heart of MultiversX’s ecosystem is EGLD, its native token, which powers transactions, smart contracts, and governance. By staking EGLD, users contribute to network security and gain the ability to vote on key upgrades, embodying the decentralized ethos of MultiversX.

The collaboration between Pell Network and MultiversX ushers in a new era of utility and value for EGLD holders. Through this partnership:

• Restaking for Additional Yields: EGLD holders can now restake their tokens on Pell Network, earning additional rewards while actively supporting the cryptoeconomic security.
• Enhanced Asset Utility: Pell unlocks the full potential of EGLD by extending its use case beyond the MultiversX ecosystem, transforming it into a powerful instrument for securing other decentralized protocols.
• Strengthened Cryptoeconomic Security: The cryptoeconomic security provided by restaking EGLD at Pell enhances the resilience and scalability of decentralized applications (dApps) in the MultiversX Ecosystem.

This integration represents a pivotal milestone in creating a more interconnected and efficient blockchain ecosystem, fostering innovation and economic growth within both communities.

Future Collaborations and Vision

The Pell Network and MultiversX collaboration exemplifies the transformative potential of combining leading technologies in restaking and sharding. The integration delivers:

• Empowerment of EGLD Holders: Unlocking new revenue streams through restaking and extending the token’s utility to secure decentralized applications.
• A Stronger Blockchain Ecosystem: By merging Pell’s cryptoeconomic innovations with MultiversX’s scalability, this partnership addresses key challenges of decentralization and fosters ecosystem-wide growth.

Given the following achievements which have been realized by MultiversX

• Performance and Scalability: MultiversX now supports up to 30,000 transactions per second (TPS) with a transaction cost of just $0.002, and can scale beyond 100,000 TPS.
• Interoperability: A multi-VM framework ensures compatibility with leading blockchain ecosystems, including Bitcoin and Ethereum, enabling seamless cross-chain operations.

This joint efforts to create efficient, secure, and interoperable frameworks will drive the future of decentralized technologies.

4. Pell on xLaunchpad

Pell Network, at the forefront of Bitcoin restaking, is launching it’s $PELL token on xLaunchpad. xLaunchpad users have the unique opportunity to be the one of the first to acquire $PELL, securing their place in this ecosystem.

• Research Phase starting on January 6. From January 13 to January 20, EGLD staking and snapshots will take place, with the KYC Phase running parallel from January 13 to January 26.
• Phase 2 begins on January 28, with the Buy PELL Lottery Tickets phase opening, offering a unique opportunity for potential investors to secure their chance at PELL tokens. The ticket sale ends on January 30, and the results will be announced on January 31.
• More details: xlaunchpad.com/pell

Together, Pell Network and MultiversX are pushing the boundaries of what is possible in blockchain technology. This partnership not only enhances EGLD’s value but also strengthens the broader blockchain ecosystem by addressing its most pressing challenges — security, scalability, and usability.

Stay tuned as Pell Network and MultiversX continue to redefine the future of decentralized finance and blockchain technology.

About Pell :

Pell: The First & Omnichain BTC Restaking Network, extending BTCFi into the cryptoeconomic security domain and fully unlocking Bitcoin’s potential.

Your support is greatly appreciated 💙

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