An agreement between Dwarves and Gnomes that was made in the 10th century DR that allowed both races to share the riches in the Wave Echo Cave. Nearby human spellcasters from Phandalin learned of the caves magical properties and allied with the Dwarves and Gnomes to harness it’s magical powers.
They Bound the magic into the “Forge of Spells” where they crafted magical weapons and other items.
-In 951 DR, the orcs of Urth Ukrypt came from the north and laid waste to the region. They were aided by mercenary wizards. The battle destroyed most of Wave Echo Cave and with few survivors, the location of the caves was lost.

• For hundreds of years, opportunists have unsuccessfully attempted to find the caves. Including a dark elf named Nezznar. Around the year of the Scarlet Witch (1491 DR) it was alleged that a trio of Dwarven brothers, Gundren, Nundro and Tharden Rockseeker had discovered the entrance to Wave Echo Cave.