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Shaurya Malwa
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Chainlink to Start New Community Rewards Program for LINK Stakers
Chainlink is rolling out a new community rewards program to incentivize participation in its ecosystem, starting with a token distribution from decentralized data platform Space and Time (SXT).
The program, called Chainlink Rewards, allows those projects based on the network to reward eligible Chainlink node operators and community members who help secure the network.
Founded in 2022, Space and Time is a decentralized data network that uses zero-knowledge proofs to verify database queries and deliver them to smart contracts.
Space and Time has made 4% of their total SXT token supply (200 million) available to Chainlink ecosystem participants, including LINK Stakers. The first batch of SXT tokens, consisting of 100 million SXT, will become claimable by eligible historical and active LINK Stakers on May 8.
The remaining 100 million SXT, as well as any unclaimed SXT, are planned to be made available in a separate campaign in the future. SXT will be offered to both historical and active LINK stakers. Claims will remain open for 90 days.
Token incentives help drive money and users to a blockchain network, adding to demand for that network’s token and a user base that may have previously not interacted with that ecosystem.
Chainlink Rewards is expected to expand over time, with additional Build partners likely to participate in future reward seasons. While token distribution will be project-specific, the broader goal is to create new incentives for users to stake LINK and engage with the Chainlink network more actively.
No details have yet been shared about upcoming reward partners or the long-term schedule of the program as of Monday.
Continue reading...
Chainlink is rolling out a new community rewards program to incentivize participation in its ecosystem, starting with a token distribution from decentralized data platform Space and Time (SXT).
The program, called Chainlink Rewards, allows those projects based on the network to reward eligible Chainlink node operators and community members who help secure the network.
Founded in 2022, Space and Time is a decentralized data network that uses zero-knowledge proofs to verify database queries and deliver them to smart contracts.
Space and Time has made 4% of their total SXT token supply (200 million) available to Chainlink ecosystem participants, including LINK Stakers. The first batch of SXT tokens, consisting of 100 million SXT, will become claimable by eligible historical and active LINK Stakers on May 8.
The remaining 100 million SXT, as well as any unclaimed SXT, are planned to be made available in a separate campaign in the future. SXT will be offered to both historical and active LINK stakers. Claims will remain open for 90 days.
Token incentives help drive money and users to a blockchain network, adding to demand for that network’s token and a user base that may have previously not interacted with that ecosystem.
Chainlink Rewards is expected to expand over time, with additional Build partners likely to participate in future reward seasons. While token distribution will be project-specific, the broader goal is to create new incentives for users to stake LINK and engage with the Chainlink network more actively.
No details have yet been shared about upcoming reward partners or the long-term schedule of the program as of Monday.
Continue reading...