Chainlink Upgrades Staking Mechanism to v0.2 with 45 Million LINK Pool
Chainlink's v0.2 Staking mechanism has officially launched on mainnet, increasing the liquidity pool limit to 45 million LINK tokens.
Chainlink Upgrades Staking Mechanism to v0.2 with 45 Million LINK Pool
Image: CoinMarketCap
As announced on November 28th, the decentralized computing protocol Chainlink has introduced Staking v0.2, expanding the pool size to 45 million LINK tokens.
Starting today, users participating in v0.1 Staking are required to transfer their assets to the new version. Subsequently, from December 7th to 11th, the project will open access to everyone.
#Chainlink Staking v0.2 is officially live on mainnet ⬡
— Chainlink (@chainlink) November 28, 2023
Starting today, existing v0.1 stakers have a nine-day window to migrate their staked LINK and accrued rewards to the 45M LINK v0.2 pool, with guaranteed access before Early Access begins.
🧵https://t.co/pcFAVXct3L
40.875 million LINK tokens are allocated for Community Stakers, with the remainder reserved for Node Operator Stakers. According to the announcement, regular users can stake up to 15,000 LINK, while node operators have a limit of 75,000 LINK.
By expanding the staking pool to 45 million LINK tokens, equivalent to 8% of the current circulating supply, Chainlink aims to attract more users. Additionally, this move is part of the project's Economics 2.0 plan, enhancing another layer of security for the network.
Chainlink is the most widely adopted oracle network in the cryptocurrency industry, providing real-world data to blockchain applications. Chainlink Staking first launched in December, aiming to increase utility for the token and generate additional profits for LINK holders while enhancing network security. Initially, the project only opened staking to ensure the supply of ETH/USD price data, with the pool limit set at 25 million LINK tokens.
Learn more: LINK Token
With the newly released version 2.0, the project introduces more flexible unstaking mechanisms, improving security measures for the platform along with several optimizations. The modular architecture enables better adaptability, facilitating easier deployment of upgrades and improvements in the future.
LINK prices have not seen a significant reaction in the past few hours, as previously observed following the v0.2 announcement. Nevertheless, overall, the token has performed quite well since the beginning of the year, rising over 30% in the past month and nearly doubling in value year-over-year.
1-hour chart of LINK/USDT pair on Binance as of 10:10 AM on November 29th, 2023
