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Chainlink: LINK staking starts in early December



 Although the technology provided by Chainlink is decentralized and a vital part of the DeFi infrastructure, it has so far dispensed with staking. The reason for this was, among other things, the fact that it didn't require consensus to be used in block production.


With Chainlink Economics 2.0, however, that should change. They want to reward node operators and investors within the community by supporting a specific node with their LINK tokens. This then acts as a validator and is intended to ensure, in concert with the other nodes, that the data provided by the oracle is correct and not manipulated.


Therefore, the now typical picture of validators, who have to overcome a relatively high hurdle in order to participate in staking, and the so-called delegators, also arises here. The latter only need to delegate their LINK tokens to a validator and can easily earn money this way.


Chainlink staking starts in two weeks

The early access phase is scheduled to start on December 6th and will initially be limited to qualified participants . For the time being, a modest sum of 25 million LINK will start a dry run in a staking pool. Each qualified participant can stake 7,000 LINK and two days later the doors will open for all other interested parties.


The trial run will also bring some limitations. Including the renunciation of the so-called slashing, which should be integrated in the final version. The test run is accordingly given the version number 0.1, which means that investors and the community will probably have to wait until next year before staking becomes finally available.


Course stays in range

The LINK price has been swinging in a range since May 2022 and has so far been unimpressed. However, the date has also been known for some time, which is why the attraction of the event is significantly lower. The low end of the range is $5.92 on the daily chart and the high end is $9.27.


The fact that LINK price has so far defied the FTX drama and not broken down gives hope. Because as soon as the sentiment changes again, LINK has a good chance of taking a chance and targeting the 10 US dollar mark again.


Still, investors should beware, if fears of Genesis Trading and perhaps even DCG going bust are confirmed, it could send the entire market south again.

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