We’re proud to say that as of October 17, 2023 that the #TOADTALK spaces between the LTOADs and stake.link has garnered the most listeners in a #TOADTALK spaces to date.
We covered a lot in this spaces, and below, we highlight some key takeaways in our talk with members of the LTOADs Community.
1). @stakedotlink Tokenomics 2.0 - Tokenomics are Maturing
• The SDL Token supply ambiguity is no more, it’s now a fixed supply.
• The fee structure has changed so that SDL takers get more #stLINK, not just #LINK but #stLINK
• Incentives and plans for node operators are better defined and implements a sort of curve-style reward boosting for the longer you lock and increased staking allocations and governance for community members seats.
• The more #LINK that’s staked through @stakedotlink, the bigger the TVL, -- linearly the more amount of #stLINK that flows to those that lock and stake SDL. The bigger the platform, the more exciting the rewards will be.
2). The Priority Pool
• The Priority Pool is an extension of the positive feedback loop discussed in the spaces.
• We saw in the original launch of staking “the rush to stake” with us and the Community Pool. The Priority Pool fixes this problem by using Chainlink Automation to stake for users automatically on their behalf.
• Anyone can deposit LINK into the Priority Pool and have it automatically staked.
• Users can leave it there and don’t even have to claim the stLINK on the back of it once their LINK is fully staked in the Community Pool — users are able to leave it unclaimed and accrue rewards with their LINK.
• Nobody needs to rush to stake anymore. Anyone in their own time can put LINK in the Priority Pool and leave it — nothing else.
• With the dynamic of staking launching, this massively benefits not just those in the stake.link community, but the broader Chainlink community.
3). Official Staking
• “This is Official Chainlink staking.”
• “You’re taking allocation from node operators who don’t have sufficient enough LINK to stake themselves and open up to the stake.link platform to users like us to stake our LINK and earn higher rewards than we would through the Community Pool.
• “The Priority Pool facilities this whether you own SDL / reSDL or not.” -@smartcon_drummer
• The Priority Pool is going to take up a portion of both the Community Pool and the Node Operator Pool. The Node Operator Pool earns fees from the Community Pool, which drives the ability for stake.link to have a higher reward rate than native Chainlink Staking through the General Access site.
4). When Staking Arrives
• “This is a Priority Pool, it comes with Priority Access and ease of use. In staking v0.1, I was nervous about getting in on General Access Day — I had to move LINK around, I was not eligible for early access, I didn’t even know if I would get in. I was surprised that it was even available for a few hours, but I’m not sure that’s going to be the case for v0.2.”
• “We’re going to see tons of people, 20M+ LINK migrate from v0.1. I would imagine there’s another several million staked in early access, and another 500k+ that will be staked automatically through Chainlink Keepers, and there’s not going to be a lot of room left. If you want to take advantage, set it and forget it — the Priority Pool is the place to be, and you don’t even need reSDL / SDL to take advantage of it.” -@smartcon_drummer
• At stake.link, our aim is to stake all of the LINK we have using Chainlink Automation (Keepers) to get LINK tokens in as rapidly as possible so that all Priority Pool LINK is staked.
• You’ll have to do nothing other than deposit it. That’s it.
5). Withdrawals in Staking v0.2
• Since withdrawals are enabled in v0.2, the Priority Pool will also apply to when people withdraw from the Community Pool in v0.2.
• For people with LINK still in the Priority Pool after launch — through the power of Automation (Keepers) once there are native withdrawals — we’ll see staking from the Priority Pool into Chainlink Community Staking Pool throughout the duration of v0.2.
6). The stLINK Pool in v0.1
• “I used to watch the stLINK pool in v0.1, and anytime there was a significant allocation of LINK available — it got filled quickly. Now that it’s automated through the Priority Pool, I can’t imagine there will be any allocation open in the Community Pool — ever.”
• “If Staking v0.2 goes live, and you get additional LINK and want to stake more LINK down the road, it almost has to be the PriorityPool and not the native contract. The Keepers from the PriorityPool will beat you to it.” -@smartcon_drummer
7). Automation in the #PriorityPool: It’s a Win-Win for the Protocol & Chainlink Ecosystem
• Using Chainlink Automation (Keepers) to stake LINK the second that there’s space open is a win-win for the overall Ecosystem.
• It will always see the maximum amount of LINK staked, ensuring maximum security.
8). Chainlink Staking: Looking Down the Road [Speculation]
• “When we look forward to future visions of Chainlink Staking that require bonding periods where the longer you lock your LINK for, the higher the reward rates are, stake.link is architected and structured in such of way (as the Priority Pool and future versions of the Priority Pool) where users can stake and lock LINK tokens for the longest possible duration and earn the highest possible rewards.”
• “Always speculation on what future versions will look like.” @LinkedEric
9). Thoughts When Building stake.link
• The aim was to build it out in such a way to make sure it could interface, liaison with what future visions of Chainlink Staking — which nobody outside of Chainlink Labs knows what it will look like.
• “From the original vision of Chainlink Staking laid out in the original white paper to now, where we’re now looking at a multi-chain and a multi-rollup world where Chainlink services are deployed to all of these different chains where it potentially equires LINK as collateral on either side of these chains.”
• “VRF on Avalanche, CCIP on Ethereum mainnet to Optimism, zkRollups and what Data Streams will look like on those.” @LinkedEric
• stake.link is architected in such a way that we can add in additional strategies and begin to deploy LINK to any of those services that require LINK to be deployed by NOPs.
• Folks can in an all-in-one interface, via the power of Chainlink CCIP which stake.link is actively building with now, will be able to have their LINK spread out to all of these chains and services in one location.
• A lot of speculation, but that was the intention when building @stakedotlink: to support future iterations of Chainlink Staking.
10). The Future of Chainlink Staking
• More price feeds, more services.
• “In the short to medium-term, staking will ideally support more and more services.”
• “BUILD is a very exciting prospect on the Chainlink Ecosystem — Chainlink Labs has been doing phenomenally in building partnerships and the work with other projects.”
• “As part of stake.link as well, users will get BUILD rewards airdropped to SDL and stLINK holders.”
• In the future: Expansion to more services
• Big Picture: self-service and how Chainlink Staking will look in the future, especially if different people are creating their own self-service DONs. “I expect more of the coordinator role within the Chainlink Ecosystem to explode, especially when self-service is an item which would also apply to Staking.” @huxtablejonny
• “If you’ve got a lot of people creating their own DONs and those DONs are securing value or even items in the offchain world via CCIP, you’ll have to think about the collateral and the economics that secure those services and different data feeds — to which — stake.link which play a major role because you have 15 of the top Node Operators on there, and they’ll be involved more and more in these types of services.”
That concludes our key takeaways recap in this week’s episode of #TOADTALK with the LToads and stake.link.
We look forward to future collaboration with the LToads and applaud them for their success: what they’ve accomplished since May 2023 is nothing short of impressive, and we’re excited for what’s to come.