Hassan Maishera
Chainlink announced via a blog post on Thursday that it has launched the Chainlink Reserve, a new upgrade centered on the creation of a strategic onchain reserve of LINK tokens.
The Chainlink Reserve is designed to support the long-term growth and sustainability of the Chainlink Network by accumulating LINK tokens using offchain revenue from large enterprises that are adopting the Chainlink standard and from onchain service usage.
The Reserve is being built up by using Payment Abstraction to convert offchain and onchain revenue into LINK. Chainlink added that to make the Chainlink Reserve upgrade even more effective, Payment Abstraction has now officially expanded to support offchain payments for Chainlink and multiple onchain services.
This feature enables revenue from both on-chain service usage and significant off-chain revenue from existing and ongoing enterprise integrations, usage,, and maintenance to be programmatically converted to LINK (if not already paid in LINK).
Chainlink Network (LINK) aims to provide tamper-proof inputs and outputs of data for smart contracts on any blockchain. LINK is up 9.4% over the past 24 hours, trading at $18.32.
