Chainlink Joins Staking Features, Crypto Owners Can Bet Up To 7,000 LINKs!

JAKARTA - Chainlink (LINK) now has a staking feature, where coin owners can risk LINKs for a certain period of time to get rewards. This method is often used by crypto owners to get passive income.

However, Chainlink has just launched this feature in its early stages. Therefore, LINK owners can only risk limited number of brand coins with a maximum number of 7,000 LINKs.

Chainlink has introduced LINK staking for its community with the launch of Chainlink Staking v0.1 on the Ethereum mainnet, which features a limited-size staking pool for initial releases.

However, according to a recent announcement in an official press release on Tuesday, December 6, this opportunity is exclusive to community members who meet at least one of the initial access feasibility criteria disclosed by Chainlink in October.

Chainlink Staking v0.1 Initial Access is now broadcast on the Ethereum mainnet! wrote Chainlink's announcement.

"Staking pool early 25M is available for early access, so your $LINK staking today is to secure your place and get a reward to secure a larger Chainlink Network & #Web3 ecosystem!" Chainlink added in a Twitter post Chainlink (@chainlink), December 7, 2022

Supporters who do not meet the initial access criteria will have the opportunity to also risk as much as 7,000 LINKs in the pool starting December 8, 12 PM ET (5 PM UTC). According to a press release, each LINK address will be limited to a maximum of 7,000 LINKs to accommodate as many community members as possible for the initial pool, which is limited to 25 million LINKs.

Chainlink revealed that the LINK tokens at stake and the prizes obtained will remain locked until the team releases Staking v0.2. V0.2 is expected to be released in 9 to 12 months. In addition, the team will allocate 2.5M LINK from 25 million LINKs at stake to stakeholders, with 22.5 million distributed to community stakers based on who they can quickly, the press release said.

Chainlink announced its staking program in June, promising prizes of up to 5 percent in percentage annual returns. As expected, the disclosure led to an increase of 44 percent in its active LINK address in a matter of days, as The Crypto Basic previously reported.

The introduction of LINK staking is likely to encourage more investor interest in assets as some proponents want to collect rewards for helping secure the network. In a tweet following an official announcement on Twitter, Chainlink shared links to official blog posts in detail about how to risk LINK and other important activities.

In addition, Chainlink also announced how to stake in a Twitter post. For LINK users who want to stake can enter their official website staking.link.com.

Ready to stake, but not sure how? If you’ve got custody of your LINK tokens in a crypto wallet, you're ready to use the Staking App.See the GIF below for a demonstration of exactly how to stake through the app. Start staking: https://t.co/nOhbTwulv1 pic.twitter.com/9JQWjRuyR5

— Chainlink (@chainlink) December 8, 2022

Chainlink, founded in 2017, allows smart contracts to be universally connected. Through a decentralized oracle network, Chainlink allows blockchain to safely interact with external data feeds.

Chainlink networks are driven by large open source communities (open source) data providers, node operators, smart contract developers, researchers, security auditors, and more. The company focuses on ensuring that decentralized participation is guaranteed for all node operators and users who wish to contribute to the network.