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Chainlink Staking Program Quickly Pulls in $600M, Hitting Limit; LINK Jumps 12% – CoinDesk

Chainlink, the largest blockchain data oracle project, has received great response to its expanded crypto staking program, amassing over $632 million worth of LINK tokens and reaching the cap in just 6 hours after the start of the early access period It's full. said the company. press release.

The “V0.2” community staking mechanism opened for early access at 12:00 PM ET and approximately 32.8 million LINKs were staked within 30 minutes. After 6 hours, the community pool reached its new, higher capacity of 40,875,000 LINKs.

LINK price rose 12% in the past 24 hours to $16.72, according to CoinDesk data.

Overall, the capacity of the expanded staking pool has increased from 25 million to 45 million LINKs. Less than v0.1a diagram that includes community pool assignments and separate node operator pools.

According to a Chainlink spokesperson, there are currently 1.8 million LINKs in the node operator pool with a capacity of 4.125 million.

Approximately 21.9 million LINKs have migrated from previous versions of the staking program.

Staking is part of what the company calls “Economics 2.0,” which aims to secure the Chainlink system.

Chainlink staking enables node operators – Help engineers retrieve external data – Community members who use staked links to support the performance of Oracle services. People can get paid too.

“Staking v0.2 introduces important new security features and sets up the system for further growth next year,” Chainlink co-founder Sergey Nazarov said in a press release. .

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