chain linkuse Oracle The network, which provides Web3 apps with secure access to real-world data, will launch long-awaited staking rewards in December, along with two new programs designed to make the service more economically sustainable. made it clear that
Chainlink CEO Sergey Nazarov said: Smartcon 2022, the network’s first IRL conference.Former Google chief Eric Schmidt, now an advisor to Chainlink, is a speaker along with other notables such as FTXof Sam Bankman Fried and Arianna Huffington.
4 crypto projects, avalanche,Metis,Moonbeam, MoonriverChainlink’s new scale The program further accelerates development and reduces the cost of bringing Oracle data and reports on-chain by splitting the cost among more participants. The project will provide a portion of its revenue in the form of tokens, in return for premium Chainlink services, data feed Higher update frequency for more advanced and lower latency smart contract application.
The platform’s new economic model includes a sister program, BUILD, for early-stage projects that offers priority access to services and advanced support in exchange for contributions in native tokens.
Various services provided by Chainlink (such as price data feeds, weather data, random number generation for gaming applications, and soon-to-be-launched secure cross-chain communication) will allow Chainlink to become a decentralized data services platform similar to the Web3 version of AWS. It means that it is becoming CEO Sergey Nazarov said: Decryption before the meeting.
How to be like Aave and Synthetix
We aim to provide all the services that everyone needs to build Web3, and based on our market share, we are already doing it successfully, said Nazarov. .
Chainlink is used by some of the most valuable DeFi apps such as: Urb, compounddYdX, synthetics, and Nexus Mutual. This startup is rooted in Oracle’s network. Oracles are programs that take off-chain data and make it available to blockchains and dapps. This will automatically settle the smart contract when the conditions are met. Chainlink now has around 1,000 oracles, a 30% increase since January. During the same period, the number of projects integrating its services increased from 1,000 to 1,500.
Chainlink ensures the security of smart contracts that rely on data feeds by aggregating price data sourced from a pool of independent nodes backed by economic incentives rather than from a single central party. .
One of the primary goals of the BUILD program is to enable more projects to emulate the success of the platform’s early clients, including lending platforms Aave and Synthetix. Both were launched with the backing of Chainlink, which provides secure access to the pricing data feeds they rely on.
The BUILD program formalizes the relationship between Chainlink and the projects that integrate it, providing quality services in exchange for what is in abundance, essentially their token, Nazarov said. I’m here.
He said trufflespace and time, and bit scrunch This is one of the projects that have signed up for BUILD.
Chainlink Staking Arrives in December
The SCALE and BUILD programs underpin Chainlink’s long-awaited staking reward scheme.
The program will help cover the operating costs of the Chainlink oracle network, and native tokens will also be available to stakers (community members who use LINK to secure the network and get rewarded for doing so).
According to Chainlink, staking will begin in December and will roll out across tiers depending on eligibility.
Staking distributes the value generated by the system to relevant participants nodes and stakers, Nazarov said. He stressed that this is an early stage experimental v0.
The Qualifications app will be released on October 3rd and will rank applicants according to a variety of metrics, not just the LINK they hold, but their degree of engagement with the community.
According to Chainlink, the initial staking pool will start with a total size 25 million LINK tokenswith the goal of scaling to 75 million tokens in the months following launch, depending on demand.
Amazon in the Web3 era?
Over the past four years, Chainlink has established itself as a key player in a fast-growing world. DeFi A collection of decentralized applications, primarily ethereum It allows traders to borrow, lend and trade crypto assets without a third party intermediary.
Chainlink proposes to boost dapp development to reduce costs.Image: Chainlink
Chainlink’s new program, theEconomics 2.0The initiative is a bid to cement its success and build a sustainable and successful platform. There are revenue-sharing dynamics emerging with Chainlink and other DeFi applications, said Nazarov.
However, Chainlink’s CEO stressed that LINK will continue to be used to pay for services. “What we’re trying to do is make access to Oracle services very economical,” he said.
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