The Link token: Difference between revisions

Revision as of 07:47, 12 April 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.

Utility

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.

Details

ICO and token allocation

ERC677

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.

LINK Token Contract Addresses - Chain specific

	Arbitrum	0xf97f4df75117a78c1A5a0DBb814Af92458539FB4
	Avalanche	0x5947BB275c521040051D82396192181b413227A3
	Binance smart chain	0x404460c6a5ede2d891e8297795264fde62adbb75
	Ethereum	0x514910771af9ca656af840dff83e8264ecf986ca
	Fantom	XXXX
	Gnosis	XXXX
	Harmony	XXXX
	Huobi ECO	XXXX
	Moonbeam	XXXX
	Moonriver	XXXX
	Optimism	XXXX
	Polygon	XXXX
	RSK	XXXX
	Solana	XXXX
	Terra	XXXX

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 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 ^[1] Max Total Supply: 1,000,000,000 LINK ^[2]

[1] ttps://etherscan.io/txs?a=0x514910771af9ca656af840dff83e8264ecf986ca&f=5

[2] ttps://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca

[1]

[2]

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 At launch, 35% of
 LINK tokens were sold, establishing an initial