Chainlink v0.1 staking is officially launched
Chainlink v0.1 staking allows LINK token holders and node operators to earn corresponding rewards by enhancing the cryptoeconomic security of oracle services.Author: Chainlink
The industry-leading Web3 service platform Chainlink today officially launched Chainlink v0.1 staking for copyright benefits. Chainlink staking is a cryptoeconomic security mechanism where stakers put LINK tokens into a smart contract to guarantee the quality of oracle services.
Chainlink provides critical infrastructure for the Web3 economy and currently operates over 1,000 oracle networks. As Chainlink releases new oracle services and covers more blockchains, the security of the Chainlink network must also upgrade to match the scale of applications within the Chainlink ecosystem. The release of v0.1 staking for copyright benefits marks a significant milestone for Chainlink, ushering in the Chainlink 2.0 economic era focused on sustainable growth and security.
The Chainlink network has successfully scaled to support most leading DeFi protocols as well as numerous emerging smart contract verticals, achieving a transaction value of over $6.6 trillion this year. Chainlink co-founder Sergey Nazarov stated, "Such a large economic scale lays a solid economic foundation for the Chainlink network, which is why we decided to launch the 2.0 economic plan and the first staking mechanism for copyright benefits. As the Chainlink network continues to expand, Chainlink staking will evolve and enhance the security of the entire Chainlink ecosystem and the Web3 industry."
In the first phase, Chainlink staking will release the v0.1 beta version. The beta version will establish a staking pool supporting the ETH/USD Data Feed on the Ethereum mainnet. Stakers can participate in ensuring the performance of the Data Feed, and if the uptime of the Data Feed fails to meet the requirements, warnings will be issued through a decentralized alert system to earn corresponding rewards.
The initial cap for the beta staking pool is 25 million LINK, which accounts for 5% of the current circulating supply and 2.5% of the total supply. Initially, there will be two types of stakers in the staking pool: node stakers and community stakers. Other types of stakers may be added later. Initially, only node operators actively providing Chainlink Data Feeds and addresses meeting the priority participation criteria will be eligible for priority participation in the v0.1 staking. The staking pool will open to everyone two days later.
The v0.1 staking for copyright benefits is the first round of staking for Chainlink, marking a turning point for the Chainlink network in terms of security and economic model. Chainlink has also launched other key 2.0 economic plans, such as Chainlink BUILD and Chainlink SCALE. This signifies that the Chainlink ecosystem is entering the next phase of sustainable growth, with enhanced cryptographic security. For more details on the operation mechanism of v0.1 staking and to check if you qualify for priority participation, please read the blog post on the details of the Chainlink v0.1 staking mechanism.
About Chainlink
Chainlink is the industry-leading Web3 service platform, enabling trillions of dollars in transaction volume across industries such as DeFi, insurance, gaming, and NFTs. As a top decentralized oracle network, Chainlink helps developers build feature-rich Web3 applications, seamlessly connecting applications to real-world data and off-chain computing resources, providing a universal gateway for global enterprises to access blockchain.
