In just six hours after the start of an early-access period, Chainlink, the largest blockchain data-oracle project, saw a strong uptake for its expanded crypto-staking programme, bringing in over $632 million worth of its LINK tokens and filling up to capacity.
About 32.8 million LINK had been staked in less than 30 minutes after the “V0.2” community staking mechanism opened for early access at 12 p.m. ET. Six hours later, the community pool had reached its new, higher capacity of 40.875 million LINK. Based on recent data, the price of LINK increased by 12% in the last 24 hours to $16.72.
The total capacity of the expanded staking pool is 45 million LINK, which is an increase from 25 million under v0.1. This amount comprises both the community pool allocation and a separate node operator pool.
21.9 million LINK were transferred from the previous iteration of the staking scheme. Out of a 4.125 million capacity, a Chainlink spokesman states that there are 1.8 million LINK in the node operator pool at the moment. About 21.9 million LINK switched from the previous iteration of the staking scheme.
A Chainlink representative stated that of the 4.125 million LINK that are capable of operating in the node operator pool, there are 1.8 million LINK at this time. From the previous iteration of the staking programme, about 21.9 million LINK were transferred.
Part of the company’s “Economy 2.0” is staking, which is intended to fortify the Chainlink
system. Node operators, who assist engineers in retrieving external data, and community members can support the performance of oracle services with staked LINK thanks to Chainlink staking. Individuals can also receive incentives.
According to a press release from Chainlink co-founder Sergey Nazarov, “Staking v0.2 introduces important new security features and sets the system up for even further growth in the year to come.”