The company announced Thursday that ChainLink has launched a new chain reserve called Chainlink Reserve, aiming to remit business needs to its local link token.
The reserve used large agencies to accumulate links to the two fees paid by the chain links by revenues, which the company said in a press release that the reserve was intended to support the growth and sustainability of the ChainLink network.
ChainLink uses the so-called payment abstraction to allow users to pay in tokens such as ETH or USDC, such as ETH or USDC, without requiring all payments in the link.
These payments will then be automatically converted into links through Chainlink’s services and decentralized communications. According to a press release shared with Coindesk, the new reserves are built entirely by converted payments, designed to fund long-term growth and help ensure network security.
The reserve already holds links worth more than $1 million. Chainlink said it is expected that no withdrawals will be drawn from the reserve in “years” and that the balance is expected to grow as more corporate revenues point directly to the chain chain.
“The launch of Chainlink reserves marks a key evolution of ChainLink, establishing a strategic link reserve funded by using chain chain revenues as well as on-chain services using funds,” said Sergey Nazarov, co-founder of Chainlink, in a statement. “The demand for chain link standards has generated hundreds of millions of dollars in revenue from large enterprises.”
Large enterprises using Chainlink infrastructure include MasterCard, which works with companies and companies Let cardholders buy cryptocurrenciesand JPMorgan’s Kinexys digital payment platform is Link to ondo link Use ChainLink’s technology.
ChainLink has also released a dashboard to track the balance of reserves reserve. chain.linkand reserve contracts on Etherscan.
