LINK staking v.01 timing and details: When is the Chainlink Staking v0.1 Pool open to everyone?
10:16, 28 November 2022
Chainlink (LINK) social activity has been soaring as the launch of the network’s staking program approaches.
Chainlink revealed its plans to introduce the staking feature back in June. Investors cheered the news, and the LINK price surged. Now Chainlink is becoming the talk of the town once more, as the program’s beta launch is around the corner.
When will the staking program – dubbed v0.1 – open to all? Read on to find out…
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Chainlink Economics 2.0
Chainlink is a decentralised network of oracles (DNOs) built on Ethereum (ETH) that enables hybrid smart contracts to combine on-chain and off-chain data. This lets decentralised applications (dAaps) interact with real-world data and services that exist outside of blockchain networks.
On 7 June 2022, the team behind the Chainlink protocol announced the coming staking program as a key part of its Chainlink Economics 2.0 roadmap.
Chainlink hailed its Economics 2.0 as “a new era for the network’s long term security and economic sustainability”.
The vision was well received by investors, as both social mentions and the price of the LINK token surged.
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Chainlink Staking v0.1
Chainlink pitched its staking feature as an opportunity to earn “rewards for increasing the security guarantees and user assurances of oracle services by backing them with staked LINK tokens”.
The beta version of the staking pool – capped at 25 million LINK – will go live for LINK investors who qualify for early access next week.
“We’re excited to announce that the beta of Chainlink Staking (v0.1) is planned to go live on Ethereum mainnet on December 6, 2022 at 12PM ET. Addresses that qualify for Early Access will have the opportunity to stake up to 7,000 LINK in the capped v0.1 staking pool,” Chainlink announced on its website.
Chainlink chose three sets of qualifying criteria for v0.1 Early Access, including having held a certain amounts of LINK tokens during certain periods, having participated in a Chainlink-organised hackathon between 2020 and 2022, or hosting or speaking at meet-ups about the Chainlink ecosystem.
Early Access provides an opportunity to stake but does not guarantee someone a spot given the initially capped pool size, the website noted. The capped pool will then open to investors not eligible for the early access two days later.
“The capped v0.1 staking pool will then open to General Access two days later on December 8, 2022 at 12PM ET, at which point anyone will have the chance to stake up to an initial limit of 7,000 LINK per address, subject to the initially limited 25 million LINK pool cap and other applicable participation requirements,” the company said.
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