This month’s stake.link Community Update publication comes as we are 1/3 of the way done with Q2 2024 as well as the 2024 year—and we couldn’t be prouder of the achievements accomplished in the month of April.

As usual, we cover Staking Metrics in each publication and do so below, but in the month of April, stake.link staked more LINK than all previous months combined (362,462.72 LINK) and surpassed 700,000 LINK staked since native withdrawals began at staking.chain.link between LINK staked between the Priority Pool and Earned Rewards.

That’s a lot to be proud about, and it’s a testament to the security-centric approach taken to crafting every facet of the protocol as well as the overall value proposition of the protocol: stake.link abstracts away the complexities of participating in the Chainlink Ecosystem.

We couldn’t be happier to report that stake.link and the Priority Pool are both working like a fine-tuned machine.

In today’s blogpost, we’ll cover:

• stake.link LINK Staking Metrics

• SLURP-Alerts

• The 2nd Community Council Epoch

• Uniswap V3 LP Incentives

• Chainlink CCIP General Availability <> Transporter.io

• Chainlink Labs BUILD Update

• The stake.link Airdrop

Let’s dive in.

1. Stake.link LINK Staking Metrics

• As of writing, 736,914.78 LINK (previously, 368,406.71 LINK) has been staked into the Chainlink Community Staking Pool between the Priority Pool and accrued rewards. This is a +100.02% change since the last Community Update.

• Since stake.link’s inception, 1,874,718.27 LINK has been staked through stake.link with an increase of 362,462.72 LINK in the month of April.

• The total staked LINK from stake.link since the beginning of LINK Staking represents ~4.166% of all LINK staked, up from ~3.2274% since the last publication.

• Currently, the Priority Pool holds 339,768.6588 LINK that are ready to be staked once more withdrawals are initiated by Community Stakers at staking.chain.link (Previously, 448,087.768780 LINK). Users who have staked SDL and HODL reSDL in the wallet that deposited LINK into the Priority Pool are next up to stake in the Community Staking Pool.

• The stLINK / LINK Curve Pool continues to steadily increase in TVL, standing at $1.964M in TVL as of end of day May 7 (up from $1.79M in TVL as of end of day April 2). The Curve Pool currently holds holds 62,922.89422 stLINK and 69,967.07558 LINK.

• The wstLINK / LINK Pool on Camelot Dex on Arbitrum has remained flat month over month with $1.79M in TVL and currently holding 53,587.8013 wstLINK and 61,065.330973 LINK.

• Users who are not staked at either staking.chain.link or stake.link are able to gain immediate exposure to LINK staking by swapping LINK for stLINK in the Curve Pool or wstLINK in the Camelot DEX Pool.

• We make note that users who have staked LINK through stake.link and have not claimed stLINK are still eligible for their full allotment of BUILD rewards as any other LINK staker at stake.link or staking.chain.link is.

• Check out the stLINK / LINK Curve Pool here and the wstLINK / LINK Camelot DEX Pool here.

• At current pace, stake.link is seeing approximately 5,540.71 LINK staked per day (previously 3,759.25 LINK) since December 27, 2023 when the first unbonding transactions were eligible to fully withdraw.

• The current reward rate to stake LINK at stake.link is 7.40%, 71.2963% higher than the reward rate in the Chainlink Community Staking Pool at staking.chain.link.

• The current reward rate to stake the stake.link protocol token SDL is 5.74%, or 32.87% higher than the reward rate in the Chainlink Community Staking Pool.

• Here’s the outline of all staking transactions from stake.link since withdrawals began that consists of both LINK staked from the Priority Pool and Earned Rewards:

  • December Stake: 12,475.81 LINK

  • January Stake: 108,055.68 LINK

  • February Stake: 55,615.12 LINK

  • March Stake: 159,038.93 LINK

  • April Stake: 362,462.72 LINK (average of 12,082.09 LINK Staked per day)

  • May Stake: 39,266.52 LINK

A). Dynamic Daily LINK Staked Chart

B). Cumulative Daily LINK Staked Chart

C). Dynamic Weekly LINK Staked Chart

D). Dynamic Monthly LINK Staked Chart

• stake.link’s total TVL stands at $31.874M as of 7 May 2024.

2). SLURP-Alert & Epoch 2: Community Council Seat Elections

Lately, it’s been heads down actively working on past governance implementations, but in April, Community Council Member Seth released the latest stake.link Governance SLURP, SLURP-17 | BUILD Rewards.

Here’s a brief rundown:

• Define distribution of Chainlink Labs "BUILD" rewards to staked Link token holders as stLink in stake.link protocol.

• Rationale:

  • Formalized stake.link’s SDL/reSDL tokenomics with a multiplier of rewards based on lock duration.

  • Apply similar approach to BUILD program rewards.

• Motivation:

  • Anticipation of Chainlink Labs releasing details on BUILD claims mechanism.

  • Essential for stake.link to have a plan to position itself as the option for obtaining BUILD rewards.

  • Need to account for rewards for both community stakers and stake.link node operator partners.

• Specification:

  • Rake from Node Operator distributions:

    • reSDL holders: 15%

    • stake.link core contributors: 1%

    • stake.link treasury: 2%

  • Rake from Community Pool distributions:

    • reSDL holders: 4%

    • stake.link treasury: 1%

  • Efforts should ensure reSDL holders claim BUILD rewards quickly; rewards available for claim for 120 days before unclaimed rewards sent to stake.link treasury.

We appreciate the proposal from Seth and the back and forth commentary taking place at talk.stake.link.

We encourage all participants of the protocol to take some time to review the full SLURP here and leave comments in the Talk Forum!

Chainlink BUILD Rewards are coming per recent communications from Chainlink Labs, and discussions / proposals as these will enable the protocol to be best prepared for when the time comes.

Epoch 2: Community Council Seat Elections

On the topic of governance, we were excited to kick off the nomination and voting process for the 2nd Epoch in the month of April, and we couldn’t be prouder of the caliber of candidates that were nominated and are up for election at this time.

Voting for Community Council Election began on Wednesday, May 1 and conclude at 3:00 pm ET / 9:00 pm CET Wednesday, May 8.

Here is the full list of candidates as well as their nomination pitch below:

BuffTuck (aka Michael)bufftuck_ on Discord

I self nominate myself. Reason for running to become a bigger part of SDL and steer protocol in a way beneficial to its future. SDL is and will remain the best liquid staking platform with the best NOP's around. I will give community a strong voice in the voting process with all direction being towards the long term sustainability and success of the platform. I feel i have a fairly good grasp on the long term goals of SDL and Chainlink themselves and would be excited to have a bigger role in the protocol vs just holding and supporting / staking, that way it can be ensured the decisions made best suit the community while balancing the long term vision of the protocol.

@michaelp3711 on telegram @BuffTuck on twitter

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Genghis Jhangreenbuffalo0726 on Discord

Hello SDL family, I am Genghis and would like to nominate myself for a role on the Community Council.

I think i would be a good community representative because I have been part of the Chainlink community for almost 7 years, and the LPL/SDL community since early on after its inception. I'm very pragmatic and pride myself on basing my opinions strictly on logic. If appointed to be a community council representative, I would present my views on each SLURP and the reasons i am either for or against each proposal.

I created and maintained the SlurpBot and LinkPoolDistros twitter account, and more recently the CCIPMetrics twitter account. I believe these projects demonstrate my dedication to the community and my continued stance of truth>trust.

Professionally i work as a Cybersecurity Engineer, and have an appreciation for technical nuance and data-driven decision making.

Discord: greenbuffalo0726Telegram: Genghis Jhan

Will submit wallet address if elected

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**Tokenized / T303 **onetothousand on Discord

To all reSDLers lockers, My nickname is Tokenized and I am nominating myself for the second epoch as a council member. Besides fulfilling my duty to vote on all SLUPRS during the second epoch (EZ), I am already actively engaging the stakedotlink and Chainlink community members - stakers and holders alike, educating them about the utility stakedotlink brings to the Chainlink network, and why our liquid solution is a much better alternative to native staking. The information gap is still very apparent. We’re talking what is rebasing levels.

Per SLURP-12, elected members are compensated with $1,000 worth of SDL tokens per month. For an entire epoch, that will be $6,000 worth of SDL tokens.

If I am elected, I would take 100% of the personal stipend and re-invest it in stakedotlink’s community, by creating the first WAGMI mini-budget. I believe the LToad campaign had good effect, and I would like to further explore bridging the knowledge gap that way. The entirety of the budget will be used to whatever we can come up with: pay for meme contests on x, infographics, airdrop to individuals based on certain criteria,video/art designers, burn it. VRF it. retweet it. mint reSDL and airdrop them. IDK, any idea we might have in the future...$6K is a lot of money!

I see a lot of talent in the crypto space and I’m wondering if collectively we can find them using that budget, as this is not something I want to do solo. If you believe the community can come up with a good use case for these funds, elect me and let’s start spending it on stakedotlink’s brand using memetic warfare and knowledge.

Telegram: @Tokenized2027 wallet will be provided if elected

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**Hugo **hboss. on discord

My dear poolers and sistas, greetings from one of your Majors here.My name is Hugo, you guys know me as Hugo Boss on Telegram.

I have been involved with Linkpool since 2021 and have fully lived the whole transition of LP to LPL to StSDL and finally to ReSDL. I saw the team involve through adversity and I cannot be more proud of the results so far.A major portion of my holdings are locked for 4 years and the rest is being allocated in liquidity pools on Mainnet and Arbitrum to support development. I am the author of Slurp-13 which gave additional benefits to SDL holders and hopefully made some happy sistas. I am looking forward to proposing more Slurps that will benefits all holders including myself. I love to share my thoughts and engage in discussions on Telegram and Discord for the greater good of the protocol and its holders. I just completed the Chainlink bootcamp 2024 and made some great connections there.

I am involved in many other Chainlink build projects and partners.Just like Tokenized, I am also part of the LToad community and am an ambassador for Etherisc, an insurance protocol partnered with Chainlink. I have a few ideas of slurps that could create synergy with projects involved with Chainlink and ultimately benefit ReSDL holders. If elected, I promise to propose a minimum of 1 new Slurp during my mandate. I am also looking forward to finalize the official SDL ranking and launch additional community engagement.

Finally, if elected, I promise to use the money to deliver and set up an online store where sistas can order their favorite Stake.Link merch. I have seen the evolution of the protocol and realize I should be sharing more excitement about it. It’s a dream to be able to rep SDL with a cap and a hoody and I am confident that 6months is enough time to make it happen.

All participants are really strong and shows the power of this protocol, la crème de la crème 🔥.Good luck to all

CheersTelegram : @Hugoboss_1wallet: HugoOnCrypto.Eth

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**EqS **renhaut on Discord

Hi all, I thought I'd throw my hat in the ring.

I've been involved with Chainlink since 2017 and LinkPool since 2018 as part of the ICO. From the start, the value-add of a third-party staking infrastructure has been apparent and the more recent evolution towards a liquid staking token (LST) has been exciting to see.

It's been great to see how stake.link has evolved over the past year, improving the tokenomics through SLURP-8 and adding new features. I look forward to seeing stake.link continuing to fulfil its potential and in providing a constructive voice in the community.

I have been active on the Discourse Forum from the beginning and have provided input on several SLURPs including:

SLURP-3: Suggested a change to allow LPL holders who had not initially migrated to be able to claim their SDL airdrop in fullSLURP-5: One of several members who pushed back on these tokenomics changes that led to the improved SLURP-8SLURP-10: Suggested changes to the airdrops including an increased allocation for reSDL stakers and a distribution through VRF to help drive smaller depositsSLURP-12: Suggested a change to have a fallback community vote on a SLURP in the event that both Community Council members did not vote

Outside of this, I have taken part in a couple of Chainlink hackathons and am currently working on a blockchain project that uses Chainlink.

Taken together, this gives me both the background and capacity to act as an effective stake.link Community Council member. I will seek the community's views on proposals and issues and will be available to discuss as needed.

Best of luck to all and also a big thank you to Seth and Ari for their contributions over the past six months.

EqS on the Discourse Forum and @unertq on Telegram

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Ariarikiry on Discord

GM dear DAO,

I'm excited to nominate Ari for this second epoch. As the ambitious goals of stake.link and reSDL holders start to materialize, there are still significant things to consider and discuss moving forward.

Ari wanted to fulfill his commitment, showing his integrity by not running until he accomplished the sole promise he had made. Below are some personal thoughts on this regard, in the first blog post of the series.

That said, he wants to thank all the nominees because each has contributed their unique and exotic ingredient, helping to cook one of the most based communities in Web3. Wishing everyone the best of luck.

We're all in this together.

Tg: @ arikiryX: @ari_kiry1truth4all.eth

It’s our fundamental belief that in order for the protocol to continue to move forward and innovate in a way that will be impactful, it’s critical that the Community have seats at the table in contributing to deciding the future of stake.link.

We thank the candidates and wish them luck in their candidacy.

3). Uniswap V3 LP Incentives

On April 2, 2024, it was announced that the Uniswap v3 SDL/LINK liquidity pool incentives were replenished, and a new incentive program was activated until 28 September 2024.

Users can provide LINK and SDL liquidity, stake LP tokens, and earn swap fees as well as SDL liquidity mining incentives.

4). Chainlink CCIP General Availability <> Transporter.io

April was an exciting month for the broader Chainlink Ecosystem as we received the highly anticipated news of the release of Chainlink Cross-Chain Interoperability Protocol / CCIP General Availability!

CCIP first rolled out in the first week of July 2023, and as Chainlink Node Operator LinkPool reported recently in an in-depth Twitter Thread, CCIP Total Requests and Total Fees continue to show impressive growth.

It’s very much the early days for CCIP, but even now with it recently going live in General Availability, we continue to be impressed with the growth it is showing in the last 60 days. The Blockchain Economy has suffered and bled significant capital to bad actors from bridging exploits, representing 44% of all Web3 hacks, or $2.8b.

Web3 is now able to gradually reduce its exposure to unsecure, unsafe bridging solutions and finally use a solution with complex degrees of security and oversight at a cost-effective rate thanks in part to the flat fee premium model, making CCIP pricing hypercompetitive. We believe this approach positions CCIP to capture meaningful market share in the bridging sector of Web3.

That’s not all in the CCIP landscape either!

In April, the end user consumer facing application Transporter went live and currently support 8 blockchain networks and hosts 38 tokens able to be bridged!

Transporter is the latest cross-chain application that brings simplicity & security to Web3, powered by CCIP, and brings another avenue to bridge SDL & wstLINK.

Not only is Trasnporter adding new tokens and blockchain lanes each week at the current pace, but users are also able to send data messages to a contract or address on a destination chain, track transactions with real-time updates, access 24/7 customer support, and so much more.

We couldn’t be more excited with the developments coming out of Chainlink Labs and the Chainlink Foundation surrouding CCIP.

5). Chainlink BUILD Update

BUILD rewards are a highly discussed perk in the Chainlink Community, and as of Chainlink Labs’ latest product update, we got an update on the progress of the BUILD Program.

Here’s the excerpt:

In summary, Chainlink Labs confirms active development of the BUILD Program with the focus on deploying a system to enable BUILD Projects to make their committed tokens claimable by LINK Stakers.

Though short and sweet, we welcome this news and appreciate the update. We’ll continue to highlight discussions or publications pertaining to the progress of Chainlink BUILD and are excited about its future in providing participating projects an avenue to procure Chainlink services at a cost-effective rate that benefits LINK Stakers and broader participants of the Chainlink Ecosystem.

6). The stake.link Airdrop

The http://stake.link Airdrop has arrived! Per SLURP-10, up to 1,000,000 SDL is to be distributed to Priority Pool LINK depositors based on the amount of LINK deposited. LINK token holders who deposited LINK into the Priority Pool as of Dec. 21, 2023 can now claim the SDL airdrop.

We appreciate the vote of confidence and support from users of the protocol and couldn’t be prouder of attaining 1,000,000 LINK tokens at peak prior to the rollout of Chainlink Staking v0.2.

Check out the GitHub page for the airdrop here and connect your wallet to the stake.link site to determine eligibility and allotment!

In Conclusion

Without question, April has by far been the most successful month of the protocol’s existence. Our objective remains to break down the barriers to participation in the Chainlink Ecosystem, and April magnified the protocol achieving this objective in real time.

We have lots to be excited about on a number of fronts as described above, but as always, we reiterate that the only easy day was yesterday, and we will never take for granted the faith that both community participants as well as the member node operators have placed in stake.link.

stake.link will continue to be unwavering in our commitment to earning that confidence each and every day, as well as continue to implement proper security-centric approaches in all that we do so that we remain synonymous with the most secure and refined LINK Staking platform in Web3.

We thank all those involved in the day-to-day operations of the protocol as well as the community that actively engages us in productive discussions to move stake.link forward.

OK;LG

Disclaimer: This communication is directed only and persons outside the UK, and should not be acted on by any person located in the UK. Any persons located in the UK should make their own determination as to whether their participation in the stake.link protocol could be subject to UK regulatory requirements, and stake.link makes no claims (express or implied), and accepts no liability, in relation to the potential application of UK regulatory requirements to such persons or their activity.