Chainlink price bounces following LINK staking announcement

share to other networks share to twitter share to facebook
Chainlink

Chainlink’s native LINK token is up this week following the announcement of LINK staking services.

The LINK staking v0.1 beta will be available on December 6, 2022, according to a recent November 21 announcement from Chainlink's blog.

Advertisement

LINK staking has been long awaited by many Chainlink traders and holders. Chainlink's LINK token is up 25% over the last 7 days.

Chainlink staking

Chainlink announced the LINK staking beta will go live on December 6, 2022. The announcement was met with joy from LINK holders and has been long awaited since Chainlink’s launch in 2017.

From the Chainlink Economics 2.0 Staking Protocol and Staking v0.1 Launch blog update:

Staking is a core initiative of Chainlink Economics 2.0, enabling LINK token holders and node operators to earn rewards for helping increase the cryptoeconomic security of oracle services.
Advertisement

Ethereum address that quality for the early access staking service will be able to stake up to 7,00 LINK in the v0.1 staking pool. Once early access stakers have locked their tokens the pool will then open for General Access 72 hours later on December 8, 2022, where any LINK holder will be able to delegate their tokens to the pool.

Traders will be able to stake up to 7,000 LINK during General Access, depending on how much space is available in the pool, which is limited to 25 million LINK.

Chainlink included a roadmap for the staking pool with plans to expand the pool’s capacity to 75 million LINK as time progresses.

Advertisement

From Chainlink:

The staking pool will initially be capped at 25M LINK, representing approximately 5% of the current circulating supply and 2.5% of the total supply, with plans to scale up to 75M LINK over time.

Get the latest on Bitcoin, Etheruem, Luna Classic and Shiba Inu.