Simply put
- ChainLink has rolled out a new incentive program designed to reward contributors within its ecosystem, including link holders.
- This inaugural collaboration involves infrastructure provider Space and Time, focusing on its SXT tokens.
- Starting May 8th, ChainLink Rewards’ Season Genesis will allow eligible link stakers to claim 2% of their SXT tokens.
On Monday, the decentralized oracle network ChainLink announced its new incentive initiative, dubbed ChainLink Rewards. This program aims to distribute ecosystem tokens to participants and link token stakers.
The first offering comes from ChainLink Build, which allocates 4% of SXT token supply to qualified link stakers through a partnership with Space and Time.
According to a blog post, “The Season Genesis Pilot is a trial that will shape the future of the program.” It’s indicated that future iterations of the ChainLink Rewards program may involve a more advanced mechanism, encompassing various projects within ChainLink Build.
We are pleased to introduce ChainLink Rewards (Community Engagement & Rewards Program). This enables ecosystem participants, including eligible link stakers, to claim tokens. Season Genesis launches on May 8th.
The ChainLink Build initiative aims to foster growth among both nascent and established projects within the ChainLink ecosystem, offering market support, priority service access, and more. This includes a variety of Web3 protocols, spanning decentralized infrastructure, stablecoins, NFTs, and beyond.
In exchange for the services provided by ChainLink, these protocols will contribute a portion of their token supply back to the ecosystem, benefiting link stakers.
With Season Genesis set to launch, the most active stakers will be eligible to claim 2% of their SXT tokens starting May 8th, the program’s kickoff date. Another 2% will be reserved for upcoming ChainLink Rewards events.
To qualify as an “active staker,” individuals must have staked before the March 31 snapshot. This process rewards ChainLink’s longest and most significant stakers, thereby including smaller holders in the Season Genesis offering.
Recently, ChainLink’s Link tokens saw a 2.8% decrease in value over the past 24 hours, now priced at $13.66. However, it marked an 8% increase compared to last month, yet it still sits about 74% below its peak of $52.70 from May 2021.
