• 28 May, 2024
News

Chainlink’s Three-Phase Rollout: From Priority Migration to Open Staking

In a bold move to amplify the capabilities of Chainlink’s staking system, the company has unveiled its Staking v0.2 upgrade. After a whirlwind response to its Staking v0.1 pool, which reached its capacity within three hours of General Access, Chainlink is gearing up for the Staking v0.2 upgrade. With a newly expanded pool size of 45 million LINK tokens, Chainlink is doubling down on flexibility, security, and seamless future growth as tweeted by Chainlink.

The upgrade isn’t merely about expanding the pool. Drawing from v0.1’s feedback, v0.2 offers stakers greater control through a revamped unbinding mechanism. Moreover, it bolsters the security of its Oracle services by introducing a stake-slashing feature, ensuring malicious actors have skin in the game. Additionally, a modular architecture promises easy updates, and a dynamic rewards system is set to accommodate new incentives.

Staking v0.2 is being introduced in three methodical phases. Initially, v0.1 stakers will have a week for a Priority Migration, followed by a two-day Early Access for community holders meeting specific criteria, and finally, a General Access phase open to all, with an individual cap of 15,000 LINK.

Speaking of LINK, it’s trading at an intriguing point. Currently priced at $7.32, Chainlink has been demonstrating an upward trajectory. After rebounding from a solid $6.00 base, it crossed the pivotal 200-day moving average and hit an impressive $8.50, a neat 30% ascent. 

Investors have their eyes peeled for a breakout above the $8.50 resistance or a dip near $7.2, marking potential entry points. Momentum is in flux, with a bearish MACD line and a neutral RSI of 52. However, with the MACD histogram on the rise, the pendulum could swing favorably soon. Chainlink’s horizon seems promising with both staking and trading opportunities, offering stakeholders flexibility and potential rewards.

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