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{{:Box-round|title=Quick take - Link token|  
{{:Box-round|title=Quick take - LINK token|  
All LINK tokens (1B total) were issued in September 2017 at inception, which is to say that there is a finite supply.}}
All LINK tokens (1B total) were issued in September 2017 at inception, which is to say that there is a finite supply.}}
__TOC__
__TOC__


<h2>Timeline</h2>
<h2>Timeline</h2>
* '''16 Sep 2017''': Chainlink token created. At TX [https://etherscan.io/tx/0x5488510df045770efbff57f25d0c6d2c1404d58c1199b21eb8dc5072b22d91d7 0x5488510df045770efbff57f25d0c6d2c1404d58c1199b21eb8dc5072b22d91d7]
* '''25 Sep 19.''' The LINK token is listed on the [https://www.kraken.com/ Kraken exchange]. Read the full announcement [https://blog.kraken.com/post/2769/link-dai-trading-starts-september-25/#:~:text=We%20are%20pleased%20to%20announce,data%2C%20events%2C%20and%20payments. HERE].
----
* '''28 Jun 19.''' [https://www.coinbase.com/ Coinbase] announces support - listing for Chainlink (LINK) at Coinbase.com and in the Coinbase Android and iOS apps. Read the full announcement [https://blog.coinbase.com/chainlink-link-is-now-available-on-coinbase-1f3df2e9d21d HERE].
----
* '''16 Sep 17''': Chainlink token created. At TX [https://etherscan.io/tx/0x5488510df045770efbff57f25d0c6d2c1404d58c1199b21eb8dc5072b22d91d7 0x5488510df045770efbff57f25d0c6d2c1404d58c1199b21eb8dc5072b22d91d7]
----
* '''20 Jul 17.''' [[Steve Ellis]] (Co founder of Chainlink) proposes the addition of a new function (#677) to the ERC20 (Ethereum Request for Comments) token contracts. Read the full ERC677 standard proposal [https://github.com/ethereum/EIPs/issues/677 HERE]. 
----
----
<h2>Utility</h2>
<h2>Utility</h2>
The LINK token is used to pay Chainlink [[node operators]] for their oracle services (on-chain data aggregation and submission & off-chain computation services). In addition, once Chainlink staking goes live, Chainlink node operators will be able to deposit a specific amount of LINK as collateral in order to be elegible to service specific requests. This was first outlined in the original whitepaper.
 
The LINK token is a "Utility Token".  Utility tokens Utility tokens are tokens that have a form of functionality within the blockchain network they inhabit. At their core, utility tokens allows the owner to perform a certain action on a given network. Essentially, utility token unlocks a product, service or even both for the holder. Utility tokens can serve any purpose the developer has in mind and the tokens are required to access the service or product on the blockchain ecosystem. While coins (payment tokens) are seen as digital money, utility tokens can be compared to parts of software.
 
 
The LINK token is used to pay Chainlink [[node operators]] for their oracle services (on-chain data aggregation and submission & off-chain computation services). In addition, once Chainlink staking goes live, Chainlink node operators will be able to deposit a specific amount of LINK as collateral in order to be eligible to service specific requests. This was first outlined in the original whitepaper.
 
'''REVIEW'''
''Chainlink nodes get paid for providing oracle services in the form of user fees. Additionally, as part of a future cryptoeconomic staking model, LINK tokens can be staked as collateral to further incentivize honest oracle services. The staked LINK collateral can be subject to slashing in the event of poor performance or malicious behavior by the node, such as withholding data/computation, not delivering data on time, or supplying data that deviates a certain percentage from the DON’s overall median value.<ref>https://blog.chain.link/what-is-cryptographic-truth/</ref>''
----
----
<h2>ICO and token allocation</h2>
<h2>ICO and token allocation</h2>
At launch, 35% of LINK tokens were sold, establishing an initial
circulating supply of 350M.<br>
Another 30% (300M LINK tokens) were allocated to LINK's parent company
(SmartContract.com) tokens were spent on hiring, operations and
development.)
<br>
The last 35% (350M tokens) are held in reserve to
pay incentive rewards to network participants like
[[node operators]].
----
<h2>ERC677</h2>


<h2>ERC677</h2>
ERC stands for [https://medium.com/@starbit.writer/introduction-of-ethereum-request-for-comment-%E4%BB%A5%E5%A4%AA%E5%9D%8A%E7%B3%BB%E5%88%97%E6%A8%99%E6%BA%96%E4%BB%8B%E7%B4%B9-erc20-erc721-dbbae53d701f Ethereum Request for Comments]. Ethereum Request for Comments is an official protocol for implementing improvements to the Ethereum network. ERC standards are created by the Ethereum community developers. The developers make a document describing methods and rules that they think would improve the Ethereum ecosystem. If the core developers and community agree with the proposal, it becomes a standard.
The LINK token is an ERC677 token with the additional function "callAndTransfer" that allows to initiate a transaction and execute a contract in a single transaction for gas optimization.  
 
'''ERC20 Tokens'''
The [https://ethereum.org/en/developers/docs/standards/tokens/erc-20/ ERC-20] is a Token Standard that implements an API for tokens within Smart Contracts.
 
It provides functionalities like, to transfer tokens from one account to another, to get the current token balance of an account and also the total supply of the token available on the network.
 
'''ERC677'''
ERC677 is short for ERC: transferAndCall Token Standard #677. Steve Ellis (co founder of Chainlink) opened the ERC677 issue on Jul 20, 2017.
ERC677 tokens inherit functionality from the ERC20 token standard, however ERC677 also allows token transfers to contain a data payload. Essentially it is an ERC20 token with the additional TransferAndCall functionality.
 
ERC677 tokens can be stored in any [https://ethereum.org/en/developers/docs/standards/tokens/erc-20/ ERC20] compatible wallet. The official ERC677 standard proposal can be found [https://github.com/ethereum/EIPs/issues/677 HERE].
----
<h2>Wallets</h2>
 
'''REVIEW NEEDED'''
<br>
Any wallet that handles ERC20 tokens can store LINK tokens. The ERC677 token standard that the LINK token implements still retains all functionality of ERC20 tokens.
<br>
'''REVIEW NEEDED'''
----
----
<h2>LINK Token Contract Addresses - Chain specific</h2>
<h2>LINK Token Contract Addresses - Chain specific</h2>
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! style="word-wrap: break-word; width: 120px; border-style: solid; border-width: 3px; font-size:12px; font-weight:bold; font-family:Arial, Helvetica, sans-serif !important; background-color:#A5E0DE; color:#ffffff;" | [[Huobi ECO]]
! style="word-wrap: break-word; width: 120px; border-style: solid; border-width: 3px; font-size:12px; font-weight:bold; font-family:Arial, Helvetica, sans-serif !important; background-color:#A5E0DE; color:#ffffff;" | [[Huobi ECO]]
| style="word-wrap: break-word; border-style: solid; border-width: 3px; font-size:12px; background-color:#F0F6F9; color:#ffffff; | '''[https://hecoinfo.com/token/0x9e004545c59D359F6B7BFB06a26390b087717b42 0x9e004545c59D359F6B7BFB06a26390b087717b42]'''
| style="word-wrap: break-word; border-style: solid; border-width: 3px; font-size:12px; background-color:#F0F6F9; color:#ffffff; | '''[https://hecoinfo.com/token/0x9e004545c59D359F6B7BFB06a26390b087717b42 0x9e004545c59D359F6B7BFB06a26390b087717b42]'''
|-
| style="text-align:center; width: 50px; border-style: solid; border-width: 3px; background-color:#A5E0DE; color:#ffffff; | [[File:MetisLogo.png|center|frameless|20x20px | link=Metis]]
! style="word-wrap: break-word; width: 120px; border-style: solid; border-width: 3px; font-size:12px; font-weight:bold; font-family:Arial, Helvetica, sans-serif !important; background-color:#A5E0DE; color:#ffffff;" | [[Metis]]
| style="word-wrap: break-word; border-style: solid; border-width: 3px; font-size:12px; background-color:#F0F6F9; color:#ffffff; | ''''''[https://andromeda-explorer.metis.io/address/0x79892E8A3Aea66C8F6893fa49eC6208ef07EC046/transactions 0x79892E8A3Aea66C8F6893fa49eC6208ef07EC046]''''''
|-
|-
| style="text-align:center; width: 50px; border-style: solid; border-width: 3px; background-color:#A5E0DE; color:#ffffff; | [[File:Moonbeam.png|center|frameless|20x20px | link=Moonbeam]]
| style="text-align:center; width: 50px; border-style: solid; border-width: 3px; background-color:#A5E0DE; color:#ffffff; | [[File:Moonbeam.png|center|frameless|20x20px | link=Moonbeam]]
! style="word-wrap: break-word; width: 120px; border-style: solid; border-width: 3px; font-size:12px; font-weight:bold; font-family:Arial, Helvetica, sans-serif !important; background-color:#A5E0DE; color:#ffffff;" | [[Moonbeam]]
! style="word-wrap: break-word; width: 120px; border-style: solid; border-width: 3px; font-size:12px; font-weight:bold; font-family:Arial, Helvetica, sans-serif !important; background-color:#A5E0DE; color:#ffffff;" | [[Moonbeam]]
| '''COMING SOON'''
|style="word-wrap: break-word; border-style: solid; border-width: 3px; font-size:12px; background-color:#F0F6F9; color:#ffffff; | '''[https://moonscan.io/address/0x012414A392F9FA442a3109f1320c439C45518aC3 0x012414A392F9FA442a3109f1320c439C45518aC3]'''
|-
|-
| style="text-align:center; width: 50px; border-style: solid; border-width: 3px; background-color:#A5E0DE; color:#ffffff; | [[File:MoonRiverLogo.png|center|frameless|20x20px | link=Moonriver]]
| style="text-align:center; width: 50px; border-style: solid; border-width: 3px; background-color:#A5E0DE; color:#ffffff; | [[File:MoonRiverLogo.png|center|frameless|20x20px | link=Moonriver]]
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| style="text-align:center; width: 50px; border-style: solid; border-width: 3px; background-color:#A5E0DE; color:#ffffff; | [[File:RootstockLogo.png|center|frameless|20x20px | link=RSK]]
| style="text-align:center; width: 50px; border-style: solid; border-width: 3px; background-color:#A5E0DE; color:#ffffff; | [[File:RootstockLogo.png|center|frameless|20x20px | link=RSK]]
! style="word-wrap: break-word; width: 120px; border-style: solid; border-width: 3px; font-size:12px; font-weight:bold; font-family:Arial, Helvetica, sans-serif !important; background-color:#A5E0DE; color:#ffffff;" | [[RSK]]
! style="word-wrap: break-word; width: 120px; border-style: solid; border-width: 3px; font-size:12px; font-weight:bold; font-family:Arial, Helvetica, sans-serif !important; background-color:#A5E0DE; color:#ffffff;" | [[RSK]]
| style="word-wrap: break-word; border-style: solid; border-width: 3px; font-size:12px; background-color:#F0F6F9; color:#ffffff; | XXXX
| style="word-wrap: break-word; border-style: solid; border-width: 3px; font-size:12px; background-color:#F0F6F9; color:#ffffff; | '''[https://explorer.rsk.co/address/0x14adae34bef7ca957ce2dde5add97ea050123827 0x14adae34bef7ca957ce2dde5add97ea050123827]'''
|-
|-
| style="text-align:center; width: 50px; border-style: solid; border-width: 3px; background-color:#A5E0DE; color:#ffffff; | [[File:SolanaLogo.png|center|frameless|20x20px | link=RSK]]
| style="text-align:center; width: 50px; border-style: solid; border-width: 3px; background-color:#A5E0DE; color:#ffffff; | [[File:SolanaLogo.png|center|frameless|20x20px | link=RSK]]
! style="word-wrap: break-word; width: 120px; border-style: solid; border-width: 3px; font-size:12px; font-weight:bold; font-family:Arial, Helvetica, sans-serif !important; background-color:#A5E0DE; color:#ffffff;" | [[Solana]]
! style="word-wrap: break-word; width: 120px; border-style: solid; border-width: 3px; font-size:12px; font-weight:bold; font-family:Arial, Helvetica, sans-serif !important; background-color:#A5E0DE; color:#ffffff;" | [[Solana]]
| style="word-wrap: break-word; border-style: solid; border-width: 3px; font-size:12px; background-color:#F0F6F9; color:#ffffff; | XXXX
| '''COMING SOON'''
|-
|-
| style="text-align:center; width: 50px; border-style: solid; border-width: 3px; background-color:#A5E0DE; color:#ffffff; | [[File:TerraLogo.png|center|frameless|20x20px | link=Terra]]
| style="text-align:center; width: 50px; border-style: solid; border-width: 3px; background-color:#A5E0DE; color:#ffffff; | [[File:TerraLogo.png|center|frameless|20x20px | link=Terra]]
! style="word-wrap: break-word; width: 120px; border-style: solid; border-width: 3px; font-size:12px; font-weight:bold; font-family:Arial, Helvetica, sans-serif !important; background-color:#A5E0DE; color:#ffffff;" | [[Terra]]
! style="word-wrap: break-word; width: 120px; border-style: solid; border-width: 3px; font-size:12px; font-weight:bold; font-family:Arial, Helvetica, sans-serif !important; background-color:#A5E0DE; color:#ffffff;" | [[Terra]]
| style="word-wrap: break-word; border-style: solid; border-width: 3px; font-size:12px; background-color:#F0F6F9; color:#ffffff; | XXXX
| '''COMING SOON'''
|-
|-
|}
|}


----
The LINK token is an ERC677 token that inherits functionality from the ERC20 token standard and allows token transfers to contain a data payload. It is used to pay node operators for retrieving data for smart contracts and also for deposits placed by node operators as required by contract creators.
At launch, 35% of
LINK tokens were sold, establishing an initial
circulating supply of 350M
Another 30% (300M LINK tokens) were
allocated to LINK's parent company
(SmartContract.com)tokens were spent on hiring, operations and
development.)
The last 35% (350M tokens) are held in reserve to
pay incentive rewards to network participants like
node operators.  


Chainlink token address
Chainlink token address

Latest revision as of 06:20, 4 August 2022

Quick take - LINK token

All LINK tokens (1B total) were issued in September 2017 at inception, which is to say that there is a finite supply.

Timeline

  • 28 Jun 19. Coinbase announces support - listing for Chainlink (LINK) at Coinbase.com and in the Coinbase Android and iOS apps. Read the full announcement HERE.
  • 20 Jul 17. Steve Ellis (Co founder of Chainlink) proposes the addition of a new function (#677) to the ERC20 (Ethereum Request for Comments) token contracts. Read the full ERC677 standard proposal HERE.

Utility

The LINK token is a "Utility Token". Utility tokens Utility tokens are tokens that have a form of functionality within the blockchain network they inhabit. At their core, utility tokens allows the owner to perform a certain action on a given network. Essentially, utility token unlocks a product, service or even both for the holder. Utility tokens can serve any purpose the developer has in mind and the tokens are required to access the service or product on the blockchain ecosystem. While coins (payment tokens) are seen as digital money, utility tokens can be compared to parts of software.


The LINK token is used to pay Chainlink node operators for their oracle services (on-chain data aggregation and submission & off-chain computation services). In addition, once Chainlink staking goes live, Chainlink node operators will be able to deposit a specific amount of LINK as collateral in order to be eligible to service specific requests. This was first outlined in the original whitepaper.

REVIEW Chainlink nodes get paid for providing oracle services in the form of user fees. Additionally, as part of a future cryptoeconomic staking model, LINK tokens can be staked as collateral to further incentivize honest oracle services. The staked LINK collateral can be subject to slashing in the event of poor performance or malicious behavior by the node, such as withholding data/computation, not delivering data on time, or supplying data that deviates a certain percentage from the DON’s overall median value.[1]

ICO and token allocation

At launch, 35% of LINK tokens were sold, establishing an initial circulating supply of 350M.
Another 30% (300M LINK tokens) were allocated to LINK's parent company (SmartContract.com) tokens were spent on hiring, operations and development.)
The last 35% (350M tokens) are held in reserve to pay incentive rewards to network participants like node operators.

ERC677

ERC stands for Ethereum Request for Comments. Ethereum Request for Comments is an official protocol for implementing improvements to the Ethereum network. ERC standards are created by the Ethereum community developers. The developers make a document describing methods and rules that they think would improve the Ethereum ecosystem. If the core developers and community agree with the proposal, it becomes a standard.

ERC20 Tokens The ERC-20 is a Token Standard that implements an API for tokens within Smart Contracts.

It provides functionalities like, to transfer tokens from one account to another, to get the current token balance of an account and also the total supply of the token available on the network.

ERC677 ERC677 is short for ERC: transferAndCall Token Standard #677. Steve Ellis (co founder of Chainlink) opened the ERC677 issue on Jul 20, 2017. ERC677 tokens inherit functionality from the ERC20 token standard, however ERC677 also allows token transfers to contain a data payload. Essentially it is an ERC20 token with the additional TransferAndCall functionality.

ERC677 tokens can be stored in any ERC20 compatible wallet. The official ERC677 standard proposal can be found HERE.

Wallets

REVIEW NEEDED
Any wallet that handles ERC20 tokens can store LINK tokens. The ERC677 token standard that the LINK token implements still retains all functionality of ERC20 tokens.
REVIEW NEEDED

LINK Token Contract Addresses - Chain specific

Arbitrum Logo.png
 Arbitrum 0xf97f4df75117a78c1A5a0DBb814Af92458539FB4
AvalanceLogo.png
 Avalanche 0x5947BB275c521040051D82396192181b413227A3
BinanceSmartChainLogo.png
 Binance smart chain 0x404460c6a5ede2d891e8297795264fde62adbb75
EthereumLogo.png
 Ethereum 0x514910771af9ca656af840dff83e8264ecf986ca
FantomLogo.png
 Fantom 0x6F43FF82CCA38001B6699a8AC47A2d0E66939407
GnosisXDaiLogo.png
 Gnosis 0xE2e73A1c69ecF83F464EFCE6A5be353a37cA09b2
HarmonyLogo.png
 Harmony 0x218532a12a389a4a92fC0C5Fb22901D1c19198aA
HuobiEcoChainLogo.png
 Huobi ECO 0x9e004545c59D359F6B7BFB06a26390b087717b42
MetisLogo.png
 Metis '0x79892E8A3Aea66C8F6893fa49eC6208ef07EC046'
Moonbeam.png
 Moonbeam 0x012414A392F9FA442a3109f1320c439C45518aC3
MoonRiverLogo.png
 Moonriver 0x8b12Ac23BFe11cAb03a634C1F117D64a7f2cFD3e
OptimismLogo.png
 Optimism 0x350a791Bfc2C21F9Ed5d10980Dad2e2638ffa7f6
PolygonLogo.png
 Polygon 0xb0897686c545045afc77cf20ec7a532e3120e0f1
RootstockLogo.png
 RSK 0x14adae34bef7ca957ce2dde5add97ea050123827
SolanaLogo.png
 Solana COMING SOON
TerraLogo.png
 Terra COMING SOON

The LINK token is an ERC677 token that inherits functionality from the ERC20 token standard and allows token transfers to contain a data payload. It is used to pay node operators for retrieving data for smart contracts and also for deposits placed by node operators as required by contract creators.

Chainlink token address https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca


Chainlink contract creation https://etherscan.io/txs?a=0x514910771af9ca656af840dff83e8264ecf986ca&f=5 Contract creation TX# 0x5488510df045770efbff57f25d0c6d2c1404d58c1199b21eb8dc5072b22d91d7 Etherscan token page: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca Date created: Sep-16-2017 [2] Max Total Supply: 1,000,000,000 LINK [3]

  1. ↑ https://blog.chain.link/what-is-cryptographic-truth/
  2. ↑ https://etherscan.io/txs?a=0x514910771af9ca656af840dff83e8264ecf986ca&f=5
  3. ↑ https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca
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