The LINK token is recovering after falling at the beginning of the month. The Chainlink team intends to actively develop its Chainlink Economics 2.0 initiative.
Chainlink, the developer of a decentralized oracle network on Ethereum, announced last week the launch of a beta version of its own staking, Chainlink Staking v0.1. The Chainlink Economics 2.0 initiative allows LINK token holders and node operators to be rewarded for helping to improve the crypto-economic security of oracle services. The first phase of staking will launch on December 6 at 12:00 pm EST.
Against this background, the cost of the Chainlink token rose by 26% in a week. According to CoinMarketCap, the token is currently trading at approximately $7.5 each. This is not much, considering that at the beginning of the month it rose to $9.1. However, the token later dropped sharply – just after the announcement of the launch of staking – to $5.7. Now the value is recovering quickly.
Initially, staking will be available to a limited number of addresses – they will be able to stake up to 7,000 LINKs in a limited staking pool of 25 million LINKs. In the future, the pool will be expanded to 75 million LINK. Initially, the staking pool will contain only two types of members: Node Operators and Community Members, with more likely to be added in the future.
“In order to determine which members of the community will get access to the restricted pool space, a fair entry mechanism has been created that provides appropriate addresses with the ability to gain early access to the v0.1 restricted staking pool,” the announcement reads.
To check your eligibility for early access, you need to go to a special page
Chainlink website.
Earlier, the international payment system SWIFT entered into an agreement with Chainlink to test a proof of concept (PoC) for making payments using different blockchains.
Source: Bits
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