Chainlink price to continue its uptrend with the introduction of new staking platform
- Chainlink announces launch date for a 45 million LINK staking pool with flexible incentives for stakers.
- Chainlink staking version 2 enhances network security and was first conceived in August 2023.
- LINK price eyes recovery after yielding nearly 3% losses for holders on the day.
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Chainlink, the native token of the decentralized blockchain oracle network, is on track to continue its uptrend with its latest announcement. In August 2023, Chainlink announced the second version of staking.
Also read: Chainlink gains likely to extend as on-chain metrics turn bullish
Chainlink version 0.2 staking to launch soon
Chainlink staking v0.2 is launching in November. The decentralized blockchain protocol announced that staking is a core initiative of Chainlink Economics 2.0 that brings a new layer of security to the network. Staking enables node operators and community members to back the performance of oracle services.
Users can stake LINK and earn rewards for security of the Chainlink network. The first version of Chainlink Staking was released in December. LINK is set to launch a 45 million staking pool, version one was a 25 million pool. Both community stakers and node operators earned rewards by participating in the alerting system.
According to Chainlink’s announcement, the v0.2 beta upgrade will progressively expand access to the 45 million pool. The Priority Migration period starts on November 28, 2023 at 12 PM ET for existing v0.1 stakers. General Access begins on December 11, 2023 at 12 PM ET.
#Chainlink Staking v0.2 is launching this year ⬡
— Chainlink (@chainlink) November 9, 2023
Mark these dates on your calendar ✏️️
• Priority Migration: November 28, 2023 at 12PM ET
• Early Access: December 7, 2023 at 12PM ET
• General Access: December 11, 2023 at 12PM ET
Planning to stake your LINK? Read this pic.twitter.com/VdvVx81MSt
At the time of writing, LINK price is $14.44 on Binance. The altcoin yielded 31% weekly gains for the altcoin's traders. The altcoin’s price doubled over the past month. LINK price is down nearly 2% on the day. The altcoin is gearing up to resume its uptrend, after the recent pullback.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
