According to reports, this week Chainlink, a provider of
cryptocurrency pricing data and other data for use in smart
contracts, introduced staking of its native token, LINK. Within the
first 30 minutes selected holders reportedly locked 7 million
tokens to secure the oracle network, and within two days the
staking pool hit its predefined limit, with approximately $170
million in value staked. The staking pool is reportedly still in
beta, and the pool will initially be capped at 25 million LINK,
with a plan to scale up to 75 million over time. The protocol is
said to be paying stakers 4.75% in annual rewards in the form of
LINK tokens. According to a company co-founder, staking allows the
company “to scale the system by creating incentives that allow
the system to grow.”
In other news, a popular encrypted, cloud-based instant
messaging service issued an update on Dec. 6 that reportedly
permits users to create accounts utilizing blockchain-based
anonymous numbers instead of cell phone numbers. The update also
allows users to enable auto-delete timers on messages in new chats,
according to a report. The anonymous numbers can reportedly be
purchased from a separate, decentralized auction company started by
the messaging service’s founder, but that service is not
offered to citizens in the United States. The report also notes
that following the recent meltdown of FTX, the messaging
service’s founder announced that they are building a suite of
decentralized tools, with an intent to roll out noncustodial
wallets and decentralized exchanges.
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