The team announced that Chainlink, with a target price of $20, already exists in many areas, including being price providers for popular DeFi platforms. Criticism arose due to the limited use of LINK Coin, but the staking pool launched a few months ago made the tokens more useful in the hands of their owners. Now, this staking pool is being expanded.
As of today, a nine-day “priority transition” period begins for the existing v0.1 staking participants. During this period, participants will be able to transfer their staked LINK and rewards to the new version. According to the announcement, access will be expanded to other participants with early access on December 7th and general access from December 12th.
As before, a maximum of 15,000 LINK Coins can be staked per user. The high interest expectation is due to the dynamic reward mechanism in Chainlink Staking v0.2. This mechanism, by removing 8% of the circulating supply, supports the price of LINK and encourages price increases with the potential for millions of dollars in new staking opportunities.
Chainlink is increasing the usability of LINK coin by expanding staking. Staking v0.2 can significantly reduce the supply and expectations for LINK’s price support are rising.