Introduction
Founded in 2017, Chainlink is a blockchain abstraction layer that enables universally connected smart contracts. Through a decentralized oracle network, Chainlink allows blockchains to securely interact with external data feeds, events and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement.
The Chainlink Network is driven by a large open-source community of data providers, node operators, smart contract developers, researchers, security auditors and more. The company focuses on ensuring that decentralized participation is guaranteed for all node operators and users looking to contribute to the network.
What is Chainlink Staking
Staking is a core initiative of Chainlink Economics 2.0 that brings a new layer of cryptoeconomic security to the Chainlink Network. Staking enables ecosystem participants, such as node operators and community members, to back the performance of oracle services with staked LINK and earn rewards for helping secure the network.
LSaaS and rLINK: Accelerating Chainlink Staking
StaFi’s development efforts in the LST domain are focused on two key areas:
- LSaaS Integration with Chainlink LSD Stack: Chainlink LST developers can quickly deploy a Chainlink LST with minimal development and configuration, leveraging StaFi’s robust LSaaS framework.
- rLINK: Users can deposit LINK tokens on the StaFi Protocol without any limitations based on their capacity. The deposited rLINK is then staked by StaFi’s staking contract, which autonomously selects the optimal sequencers to generate and maximize staking yields. Users who deposit rLINK on StaFi will receive an equivalent amount of rLINK (rToken StaFi equivalent) to the value they staked. rLINK is an ERC20 and rebaseable token, allowing users to freely trade rLINK or provide liquidity (LP) to earn additional yield. This additional yield can be staked alongside reputable DEX partners on the Chainlink ecosystem.
Why Choose Chainlink
As an industry benchmark, Chainlink offers significant potential through Chainlink Staking support. Building upon the foundation of CCIP collaboration, introducing staking-related partnerships can further amplify StaFi’s and LSaaS’s influence within the ecosystem, driving broader recognition and adoption.