The 45 million LINK pool has been enlarged in Chainlink Staking v0.2, which is now live.
Launching Chainlink Staking v0.2, the decentralized computing protocol has improved its native staking mechanism and increased the pool capacity to 45 million LINK +.
Starting today, there will be a nine-day “priority migration” period when current v0.1 stakeholders may transfer their staked LINK and prizes to the new version. After that, on December 7th, additional participants will have access via the early access stage, and on December 11th, public access, users will be able to stake up to 15,000 LINK, as said in the release.
With an increase to 45 million LINK, or 8% of the existing supply, Chainlink is aiming to attract a wider variety of LINK token holders. An additional safeguard for the network is the goal of the growth, which is a component of Chainlink’s Economics 2.0 strategy.
Among crypto’s oracle networks, Chainlink is by far the most popular, as it allows blockchain apps to access external, real-world data. In December, Chainlink staking went live for the first time, giving token holders more power and letting them stake LINK to support oracle service performance and get incentives for contributing to network security. At first, there was a pool limit of 25,000,000 LINK tokens, and they could only be staked to guarantee the Ethereum ETH/USD price feed.
“Because we have noticed a steady rise in the amount of assets secured by and paid for over the Chainlink Network, it’s growing significance to improve cryptoeconomic security,” Sergey Nazarov, who founded Chainlink. “Staking v0.2 provides important additional safety measures and sets the system up for even further growth in the year to come.”
An upgraded security guarantee system and a more versatile unbonding method are the goals of the updated version, which will make it easier for stakeholders to withdraw their staked tokens. To make it simpler to include future updates and changes, its modular design intends to promote more versatility.