MultiversX Documentation

Sovereign Chains allow for independent token economies tailored to specific use cases. Key capabilities include:

• Token Creation: Customizable initial supply (fixed or inflationary) and distribution methods (ICOs, airdrops, mining).
• Utility: Tokens are used for transaction fees, network security via staking, and governance voting.
• Incentives: Implementation of reward programs for liquidity or development, and burn mechanisms to control inflation and increase scarcity.

The Farm Staking Proxy SC manages the dual yield token and handles the staking logic for farm staking. It acts as a whitelisted intermediary that simulates transfers to the Farm Staking contract. The high-level workflow is:

1. User adds liquidity and enters a farm with LP tokens.
2. User sends farming tokens to the Farm Staking Proxy SC.
3. The proxy calculates the position and simulates a transfer to the staking contract (which accepts it because the proxy is whitelisted).
4. The staking contract calculates the farming token (via the LP contract) and sends the farm staking position back to the proxy.
5. The proxy retains the farming token and issues a dual yield token to the user.
6. The user uses the dual yield token to claim rewards or unstake.

The Locked Token Wrapper SC enables the distribution of locked tokens via a wrapping mechanism. It is primarily designed to facilitate community projects, such as those building on xExchange.

Key constraints and behaviors:

• Wrapping: Any user or smart contract can wrap tokens.
• Unwrapping: Only user accounts can unwrap tokens; smart contracts are prohibited from unwrapping for security reasons.
• Transfers: Wrapped tokens can only be sent by addresses that have been granted a transfer role via a whitelist.
• Energy Impact: Both wrapping and unwrapping operations update the account's Energy, which must be accounted for by integrating projects.

Developers can interact with the MultiversX Network using a variety of tools and APIs:

• Rest API: High-level endpoints for addresses, transactions, network status, nodes, blocks, and the Virtual Machine (SC execution VM).
• MultiversX Proxy: An abstraction layer that handles sharding by routing API requests to the correct shard and merging results.
• Elasticsearch: Used for indexing and retrieving historical blockchain data.
• Events Notifier: An external service used to fetch block events and push them to subscribers.
• Chain Simulator: A service for local testing that replicates testnet behavior and can be initialized with state from other networks (e.g., mainnet).

The Sovereign ecosystem consists of several key services:

• API Service: A wrapper over the Sovereign Proxy providing caching, Elasticsearch historical queries, token media support, and staking/delegation data.
• Lite Extras API: Includes a faucet service for obtaining test tokens.
• Lite Wallet: A lightweight wallet supporting cross-chain transfers, token issuance, and transfers.
• Explorer DApp: A blockchain explorer for monitoring transactions, blocks, and on-chain activity.

The Farm SC is responsible for generating and distributing MEX tokens to liquidity providers who lock their LP tokens to increase ecosystem stability. A specialized version, the 'Farm with locked rewards' contract, is used on xExchange where rewards are locked and energy computation is required.

Important Note on opt_orig_caller: Many endpoints include an opt_orig_caller parameter. When building an external SC on top of the xExchange farm contract, this argument must always be sent as None. It is reserved for whitelisted xExchange contracts to claim rewards or compute energy for users other than the caller.

EGLD is the native cryptocurrency of MultiversX and serves as the primary asset for the ecosystem. Its core functions include:

• Network Fuel: Used to pay transaction fees, which incentivizes validators to process and verify transactions.
• Staking: Users can stake EGLD to secure the network and earn rewards. Staked EGLD acts as collateral to deter attackers.
• DeFi Collateral: EGLD can be used within decentralized finance applications for borrowing, lending, and earning interest.
• Store of Value: It has a fixed supply and functions as a digital store of value.