The Link token
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According to Messari, $LINK’s initial token offering was on September 19, 2017 with a $32 million hard cap. The pre-sale sold $LINK at $0.09 per token, and the public sale sold $LINK at $0.11 per token. Between the pre-sale and the public sale, 350 million LINK were dispersed. 35% was allocated to token sale investors, 35% was reserved for Node Operators and ecosystem rewards, and 30% went to LINK’s parent company SmartContract.com. [1]
LINK’s token offering launched September 19, 2017, with a $32 million hard cap. The pre-sale offering sold LINK at $0.09 per token with a 20% bonus depending on when the investor participated. The subsequent public sale sold LINK at $0.11 per token. Combined, both sales dispersed 350 million LINK.[2]
LINK is used as both a payments token and work token. As a payment token, LINK is used to pay Chainlink node operators for providing oracle services. As a work token, LINK can be staked by node operators as collateral to provide oracle services.
LINK's staking function is optional and specified by smart contract creators requesting oracle services. Failure to provide adequate oracle services would result in a node operator's LINK being deducted. The extent to which LINK is staked will depend on how willing contract creators are to utilize nodes without collateral.[3]--Reggie (talk) 07:38, 4 July 2022 (UTC)
Incorporate the following URL https://chain.link/circulating-supply --Reggie (talk) 08:06, 28 June 2022 (UTC)
LINK’s token offering launched September 19, 2017, with a $32 million hard cap. The pre-sale offering sold LINK at $0.09 per token with a 20% bonus depending on when the investor participated. The subsequent public sale sold LINK at $0.11 per token. Combined, both sales dispersed 350 million LINK. In total, 1 billion LINK tokens were initially issued and allocated as follows:
35% was allocated to the token sales investors 35% was reserved for Node Operators and ecosystem rewards that will be distributed to incentivize network participants 30% was allocated to LINK's parent company, SmartContract.com--Reggie (talk) 08:45, 27 June 2022 (UTC) [4]
Chainlink’s economic model revolves around the use of the LINK token to pay for the operation of a wide variety of oracle services in demand by smart contract developers and Web2 systems, as well as around using LINK as a cryptoeconomic mechanism for incentivizing the correct performance of oracle services and providing user assurances. [5]--Reggie (talk) 04:57, 22 June 2022 (UTC)
Required Information
- Need additional information and citations regarding the Chainlink ICO.
- ↑ https://web3pills.substack.com/p/a-deep-dive-on-chainlink?r=853y5&s=w&utm_campaign=post&utm_medium=web
- ↑ https://messari.io/asset/chainlink/profile/launch-and-initial-token-distribution
- ↑ https://messari.io/asset/chainlink/profile/token-usage
- ↑ https://messari.io/asset/chainlink/profile/launch-and-initial-token-distribution
- ↑ https://chain.link/faqs