Chainlink Opens Staking to More Users with v0.2 Release
Chainlink's v0.2 pool size represents an 80% increase over the pool limit of the previous version.
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Decentralized oracle network Chainlink has launched Chainlink Staking v0.2, the latest upgrade to the protocol’s native staking mechanism. The v0.2 upgrade introduces an expanded pool size of 45 million LINK tokens in total, representing 8% of the current circulating supply, increasing the accessibility of Chainlink Staking to a more diverse audience of LINK token holders.
Staking is a core initiative of Chainlink Economics 2.0, which is bringing a new layer of cryptoeconomic security to the Chainlink Network by enabling ecosystem participants to back the performance of oracle services with staked LINK and earn rewards.
“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. Staking v0.2 introduces important new security features and sets the system up for even further growth in the year to come,” said Chainlink Co-Founder Sergey Nazarov.
The launch of the v0.2 upgrade begins with a nine-day Priority Migration period for existing v0.1 stakers during which they can migrate their staked LINK and rewards to v0.2, and will progressively expand access to a broader scope of participants.
While v0.1 served as the initial Staking program, v0.2 has been fully rearchitected into a modular, extensible platform that provides stakers a new unbonding mechanism, improves security by enabling slashing of node operator stake, and features a dynamic rewards system to incorporate additional reward sources like user fees over time.
The v0.2 staking pool will open to Early Access on December 7th and General Access on December 11th. Eligibility can be verified using the Early Access Eligibility App.