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2w ago

Chainlink Activates On-Chain LINK Reserve, Locking Over $1 Million for Network Growth

It converts fees from enterprises or decentralized applications into LINK via Payment Abstraction, fueling token scarcity for long-term network resilience

Chainlink introduces onchain LINK Reserve with enterprise revenue
Photo: Gorev Evgenii
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Overview

  • The on-chain LINK Reserve went live on August 7 and funnels enterprise and decentralized application fees into LINK tokens.
  • Leveraging Payment Abstraction, fees paid in tokens such as ETH and USDC are automatically converted into LINK to build the reserve.
  • With more than $1 million in LINK locked and no withdrawals planned for years, the reserve balance is visible on a live dashboard and Etherscan contract.
  • The announcement spurred a LINK price rally as investors eyed the reserve’s continuous buy pressure.
  • Chainlink’s ecosystem powers over 2,000 price feeds securing $80 billion across 60 blockchains and underpins services for firms like Mastercard and JPMorgan.