Chainlink Reserve accumulates over 94,000 LINK, boosting holdings to 1.4 million tokens

Key Takeaways

• Chainlink Reserve's latest accumulation boosts its LINK holdings to 1.4 million tokens.
• Over 94,000 LINK tokens were added to the reserve in one day.

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Chainlink Reserve, the strategic token accumulation mechanism for the decentralized oracle network, added over 94,000 LINK today, bringing its total holdings to approximately 1.4 million tokens.

RESERVE UPDATE

Today, the Chainlink Reserve has accumulated 94,267.77 LINK.

The Chainlink Reserve now holds a total of 1,416,379.61 LINK.

The Chainlink Reserve is designed to support the long-term growth and sustainability of the Chainlink Network by…

— Chainlink (@chainlink)

The Chainlink Reserve is designed to support the long-term growth and sustainability of the Chainlink Network by accumulating LINK using offchain revenue from large enterprises adopting the platform and onchain revenue from service usage.

The Reserve plans to hold these funds for multiple years, supporting future network development without anticipating any near-term withdrawals.

The reserve is funded through Payment Abstraction, an onchain infrastructure that converts payments made in gas tokens and stablecoins into LINK using a decentralized exchange infrastructure.

Chainlink said demand for its services has already created hundreds of millions of dollars in revenue, substantially from large enterprises that have paid offchain for access to the platform.