Chainlink Expands Staking Accessibility Through v0.2 Release
Chainlink has enhanced its native staking mechanism through the introduction of Chainlink Staking v0.2, featuring an increased pool size of 45 million.
According to a press release on Tuesday, the initiation of the v0.2 upgrade will commence with a nine-day Priority Migration phase for current v0.1 stakers.
During this period, users will have the opportunity to transfer their staked LINK and associated rewards to v0.2. The access is set to gradually broaden, with Early Access scheduled for December 7 and General Access on December 11.
With the staking pool size elevated to 45 million LINK, equivalent to 8% of the existing circulating supply, the decentralized computing protocol aims to attract a broader range of LINK token holders.
“Because we are seeing a consistent increase in the amount of value secured by and paid for over the Chainlink Network, it’s increasingly important to improve the cryptoeconomic security of the network,” said 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.”
Chainlink plays a pivotal role in supplying blockchain applications with external real-world data as the most widely used oracle network in the crypto space. Chainlink first introduced staking in December, enhancing the token’s utility and allowing LINK holders to support the performance of oracle services. Initially, staking was limited to securing the Ethereum ETH/USD price feed, with a capped pool of 25 million LINK tokens.
Chainlink Staking v0.2 was created with the intention of introducing a more versatile unbonding mechanism, enabling stakers to withdraw their staked tokens with increased efficiency. The upgrade also brings
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