Chainlink opens v0.2 staking with 45 million LINK pool

  • Chainlink has announced its Staking v0.2 is live, with a pool size of 45 million LINK. 
  • v0.1 stakers are eligible to migrate their staked LINK from November 28.
  • Minimum stake for community is 1 LINK and for node operators 1,000 LINK.

ChainLink has officially upgraded its staking mechanism, with the new Staking v0.2 going live on November 28.

The v0.2 staking will feature a 45 million LINK pool, with this accounting for 8% of the blockchain project’s circulating supply.

Announcing that v0.2 was now live on the Ethereum mainnet, the Chainlink team said that existing v0.1 stakers were eligible to migrate their staked LINK with effect from November 28. The group’s accrued v0.2 rewards will give them access during a 9-day Priority Migration phase.

LINK holders will have access from December 7, with this subject to “predefined eligibility requirements”, while general access is scheduled to kick off from December 11.

Minimum stake for community is 1 LINK

Staking plays a crucial role as a core initiative in the economic structure and security of the Chainlink network. With staking, network participants such as node operators back the ecosystem by locking up their LINK, thereby helping secure the oracle services. In return, stakers earn rewards.

According to details in today’s press release, the staking limits will be a minimum of 1 LINK and maximum of 15,000 LINK for the community. Meanwhile node operators will have the opportunity to stake a minimum of 1,000 LINK and maximum of 75,000 LINK.

Anyone can stake up to the said limit amounts as long as the pool remains open. 

Of the 45 million LINK, a pool size share of 40,875,000 LINK has been allocated to the community members. The rest, 4,125,000 LINK will be open to node operators that are currently servicing the ChainLink Data Feeds.

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