Chainlink Introduces On-Chain Reserve to Support LINK Token Demand
Chainlink has introduced the Chainlink Reserve, aimed at channeling enterprise demand into its LINK token. Key points include:
- The reserve accumulates LINK through fees from large institutions and decentralized applications.
- Payments in tokens like ETH or USDC are converted into LINK using Chainlink’s services.
- The reserve currently holds over $1 million in LINK, with no expected withdrawals for multiple years.
- Chainlink co-founder Sergey Nazarov highlighted the reserve as a strategic evolution supported by substantial revenue from enterprises.
- Notable users of Chainlink's infrastructure include Mastercard and JPMorgan.
- A dashboard for tracking the reserve's balance is available at reserve.chain.link.