Chainlink Introduces On-Chain LINK Reserve, Potentially Enhancing Token Demand and Reducing Sell Pressure
Main Idea
Chainlink introduces an on-chain LINK Reserve to boost token demand by converting enterprise payments into LINK, reducing sell pressure and fostering a sustainable economic model.
Key Points
1. The Chainlink LINK Reserve converts enterprise payments into LINK tokens, enhancing demand based on real-world usage.
2. Over $1 million in LINK has been locked into the Reserve, with no withdrawals expected soon, ensuring sustained demand.
3. The Reserve links LINK’s demand directly to enterprise revenue and protocol-level service payments, reducing reliance on market speculation.
4. Following the Reserve’s announcement, LINK's price surged 9.14% to $17.66, with daily trading volume increasing by 40% to $589 million.
5. 50% of the staking-verified service fees will now be directed to the Reserve, further integrating utility-based demand.
Description
Chainlink’s new on-chain LINK Reserve boosts demand for the LINK token by converting enterprise payments into LINK, reducing sell pressure through automation. Chainlink Reserve converts institutional payments into LINK, creating
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