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Chainlink has taken a significant step towards ensuring the sustainability of its decentralized oracle network by introducing a new on-chain treasury system called the Chainlink Reserve. This innovative approach aims to accumulate its native token, LINK, using revenue generated from enterprise clients and blockchain services.
The primary objective of this strategic initiative is to support the long-term viability of the Chainlink Network by converting off-chain and on-chain payments into LINK through its recently expanded Payment Abstraction infrastructure. The reserve has already reached a substantial milestone, having amassed over $1 million in LINK.
Chainlink emphasizes that it does not plan to withdraw any funds from the reserve for several years, effectively positioning it as a long-term asset base to fund future development and network incentives. This move is expected to strengthen Chainlink’s dominance in the decentralized data infrastructure space.
The Chainlink Reserve operates as an Ethereum smart contract, with added security provided by a multi-day timelock feature. Users can track the reserve’s holdings and activity through a public dashboard available at reserve.chain.link.
This development marks another significant achievement for Chainlink, following its role as the leading decentralized oracle network that connects smart contracts on the blockchain to real-world data.
Source: cryptoslate.com
