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LINK

LINK is the native token for the network. It is a utility token used to incentivize data accuracy, keep stable, and reward nodes for their work in validating transactions. [1][2]

Overview

The LINK token is an token based on the network. It has an additional feature, , which enables a "transfer and call" function for communication with . The Chainlink platform utilizes LINK tokens as a currency, hence, its value increases with the platform's usage, giving it more influence within the network. [1][2]

Tokenomics

The  for LINK took place in September 2017 and a total and maximum supply of 1,000,000,000 LINK tokens was announced. The Chainlink price at ICO was $0.11 and a total of 350 million LINK tokens were sold to Investors. 35% of the total token supply was allocated to Node Operators and the incentivization of the ecosystem, another 35% of LINK tokens were distributed during Public Sale events, and the remaining 30% of the total token supply was directed toward the Company for the continued development of the Chainlink ecosystem and network. [3][4]
wiki

Utility

The LINK token serves as a means of internal payment on the network for compensating node operators for their services. Additionally, it can be utilized for , where node operators must stake tokens in order to participate and provide data services. Nodes with higher stakes have an increased likelihood of being selected to provide the requested data. [2][3]

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LINK

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December 12, 2023

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