Elrond (EGLD) is the native utility token used for the Elrond blockchain platform for distributed apps, enterprise use cases and the new internet economy.
EGLD tokens are used on the Elrond Network to pay costs for processing transactions, running smart contracts, and rewards for various contributions.
Resources
As of October 7, 2020 depositing Elrond does not require a memo. Hence, users are advised to generate new addresses.
