Source: Canva
The series of upgrades to its Chainlink staking program targets enhanced user functionality and engagement.
The delegated liquid staking sphere witnesses a significant development as stake.link, a front-runner in the domain, shares a set of comprehensive features and enhancements to its Chainlink staking program. This announcement is timely, aligning with the anticipated launch of Chainlink Staking v0.2 in the fourth quarter.
One feature, the Priority Pool, is structured to facilitate users as Chainlink plans to expand its token capacity from 25 million to 45 million, designed to automate the LINK staking process. By doing so, stake.link aims to offer users a nearly hands-off experience, reducing the complexities often associated with staking, the announcement read.
Simultaneously, stake.link has outlined how it designed its token format. Moving away from the conventional stSDL (staked SDL) receipt tokens, the platform plans to introduce reSDL (reward escrow SDL), encapsulated within an NFT framework.
This transformation is purpose-driven, intended to stimulate and maintain prolonged user interaction, improving augmenting governance votes and offering enhanced boosts, according to the announcement.
Jonny Huxtable, a founding member of stake.link, further commented on the launch, stating, “This new major iteration of the stake.link platform brings revamped tokenomics and, for the first time, a set-and-forget LINK staking option:”
“Never before has it been so easy for users to participate in Chainlink Staking, creating a dynamic that benefits both the economic security of the Chainlink Network and the long-term stakers of the native stake.link token: SDL.”
Diving deeper into the execution specifics, stake.link has outlined a strategic three-phase rollout for the earmarked 20 million LINK for the Chainlink staking pool in Q4, following the guidelines set by Chainlink’s official roadmap.
Upon activation of the third phase, the LINK from stake.link's Priority Pool will compete directly with the community pool for allocation. This essentially means that LINK associated with reSDL tokenholders will receive a priority nod over non-reSDL holders:
“Once phase three activates, the LINK from the stake.link priority pool will be staked against the community pool, and there will likely be less than 20M LINK available to be deposited.”
Stake.link also announced the launch of “SergAI,” designed to act as a reservoir of information, addressing questions and clarifying aspects related to Chainlink and stake.link. This includes offering insights into intricate topics like liquid staking thresholds and the nuanced functionality of the Priority Pool.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
