We’re thrilled to announce the beta launch of stake.link - the first-of-its-kind liquid staking protocol bringing additional availability and security to the next stage of the Chainlink Network. With Chainlink Staking v0.1 launching December 6th, fifteen of the top Chainlink node operators are coming together to pool their LINK staking allotments at stake.link. Pooled delegated staking will bring DeFi composability to staked LINK and increase participation in the network.
“Not only does stake.link usher in a new era for LinkPool and Chainlink, but with its launch and the underlying staking protocol, it marks a new era of blockchain infrastructure that will further build on the existing foundations of definitive truth that has already been the catalyst to incredible advancements, innovations, and adoption.”
- Jonny Huxtable, Founder and CEO, LinkPool
In June of 2022, the Chainlink Foundation detailed the long-term plan for Chainlink Staking, sharing an early roadmap and information around the initial rollout of staking in the Chainlink Network. This announcement highlighted the incremental implementation of features and evolution of staking, beginning with the launch of v0.1 this year. Last month, a follow-up article provided information on staking early access eligibility for both node operators and community members. The article noted that node operators currently servicing Chainlink Data Feeds have the opportunity to each stake 50,000 LINK. The node operators joining the stake.link protocol are opening their staking allocation to the protocol, which will in turn be made available to community members to stake LINK against.
“Chainlayer is very excited to join stake.link as an initial member and multisig participant. Staking on Chainlink is allowing us all to put our LINK where our mouths are while we are securing billions of dollars worth of value on the Chainlink Network. We are convinced that stake.link will make it even more attractive and easy for the community to stake and receive their rewards, while providing more security to the network.”
- Peter van Mourik, Co-Founder Chainlayer
“LinkRiver is proud, grateful, and excited to represent stake.link from day one, as we believe uniting the most reputable Chainlink node service providers will sustainably strengthen the Chainlink ecosystem.
The merging of different staking allotments and the introduction of the staked LINK receipt token stLINK creates cryptoeconomic advantages for all participants and could facilitate the start for new node operators in the future, which in turn can have a positive effect on the further decentralization of the Chainlink Network.
LinkRiver's vision is to bring its role as a link between community and enterprise node operators to the stake.link protocol to enable as many ambitious teams as possible to participate in groundbreaking Decentralized Oracle Networks.“
- Rob Zimmermann, Co-founder LinkRiver
Participating Node Operators
We’re proud to announce the initial cohort of Chainlink node operators supporting the launch of stake.link! These node operators represent a breadth of experiences and backgrounds and are uniquely aligned with the goal of driving forward the decentralization and adoption of the Chainlink Network.
In addition to our initial cohort of Chainlink node operators, stake.link members will expand to include strategic ecosystem partners. We’re excited to announce Chainlink Labs will be joining as a DAO member of stake.link!
Today, Tomorrow, and Beyond
The stake.link protocol is built for use with v0.1 of staking, and designed to evolve as Chainlink Staking progresses and surpasses v1.0 where explicit staking and delegation increasingly influence network security.
Today
Chainlink has taken an iterative and pragmatic approach to the rollout of staking and the stake.link protocol will follow a similar process. Initial access to the pool will be determined through a new protocol token, SDL. Each node operator will receive a mint of the new SDL token representing their 50,000 LINK staking allocation. Early access to stake.link will be provided to SDL holders. Community members not holding SDL will be able to join the pool when the early access period ends to fill any remaining capacity on a first-come, first-serve basis.
Tomorrow
The Chainlink Foundation noted that the staking limit for v0.1 will grow over time from 25M LINK to 75M LINK. As the staking allocation for both node operators and the Community Pool grows, the commensurate limits within the stake.link protocol will grow, allowing for expanded participation from SDL stakers and the wider community. Details around the expansion of stake.link capacity will be made available as Chainlink Staking evolves.
Beyond
As Chainlink Staking progresses through the Chainlink Foundation’s roadmap from the initial launch of v0.1, to the full-fledged launch of v1, v2, and beyond, the stake.link protocol’s flexibility and extensibility will allow it to serve this expanded utility and scope of services. From variable explicit staking limits per node operator, to staking supporting additional Chainlink Services like VRF and Automation, to cross-chain capital provision enabled by CCIP, the stake.link protocol is built to empower democratized and decentralized participation in the full vision of Chainlink Staking.
Stay Liquid
In all stages of the stake.link protocol users who stake LINK will receive the liquid staking receipt token stLINK. The stLINK token is a rebasing token, which means that as your LINK rewards accrue the stLINK balance in your wallet increments up 1:1. A liquidity buffer in the protocol allows users to withdraw their staked LINK from the protocol by depositing their stLINK, presuming sufficient liquidity is available.
Next Steps
We are excited about the launch of the stake.link and even more proud of the future it represents. Beyond its functional benefits, the protocol opens token holders to a universe of potential. stake.link’s goal is to build a people-first protocol where users of all experience levels can benefit from the security, opportunity, and a decentralized future while also ensuring the network’s overall success.
For the first time, stake.link connects the Chainlink Community directly with the node operators powering the Chainlink Network. We can’t wait to share the details that underpin this critical initiative in the days and weeks to come.
Join stake.link and share your thoughts on Twitter: @stakedotlink and on Telegram: https://t.me/stakedotlink. The pool is open!