The Staking v0.2 mechanism from Chainlink will launch on November 28, 2023, at 12 p.m. ET, the company has announced. Priority Migration will be the first step in the process, and then Early Access and General Access. Using a pool of 25 million LINK tokens, Staking v0.1 was successfully launched, laying the groundwork for Chainlink Staking v0.2. In short, the core of Chainlink Economics has always been staking, and it is now expanding with a larger pool.
There are 45,000,000 in the pool overall LINK. The allocation for community staking is 40,875,000 LINK, and the allocation for node operator staking is 4,125,000 LINK. One thousand and one stake, respectively, are needed from community and node operators. The maximum is 15,000 and 75,000, respectively, taking into account LINK tokens.
The first phase, known as Priority Migration, will launch on November 28, 2023, at 12 p.m. ET. Early Access will take place after it, on December 7, 2023, at 12 p.m. ET. General Access will be made available on December 11, 2023, at 12 p.m. ET, marking the end of the process.
Priority Migration gives current v0.1 stakers the option to move their holdings or sell them. As an alternative, they can opt for partial migration, with the remaining portion being withdrawable. Staker holdings will be automatically stuck to v0.1, with rewards building on top of them, assuming they don’t migrate.
Eligible LINK holders will be able to use the v0.2 staking feature during the four days of Early Access LINK holders can use the recently released Early Access Eligibility App to verify their eligibility. That being said, because the pool is small, it is crucial to remember that they cannot guarantee admission.
At last, Chainlink Staking v0.2 will become available to all users, enabling them to stake using the specified minimum and maximum values.
The native token, which is currently trading at $14.21 after rising 0.29% over the previous day, has not seen much of an impact from the announcement. The goal of making Chainlink Staking more accessible is in line with the larger pool size. The group has a wide range of audiences in mind from the very beginning.
Chainlink Staking v0.2 maintains the mechanism that offers adaptability and consistency for stakeholders. Instead of waiting for the release of the next staking version, holders will be able to remove their staked tokens. This has been referred to as an Unbounding Mechanism, and it is more likely to be important for ensuring security.
Claimable and Locked rewards are available to stakers. The latter will eventually become Claimable Rewards during what is known as the ramp-up period.
