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Chainlink had three major economic product launches recently:
🪙Chainlink Rewards: Season Genesis launched
🔒Smart Value Recapture (SVR) went live with @aave
↔️Payment Abstraction released on mainnet
Let’s break down what these mean for the growth of the Chainlink Network ↓
1. Chainlink Rewards was introduced as a community engagement & rewards program, designed to incentivize active participation in the network.
The program allows Chainlink Build projects to make their tokens claimable by ecosystem participants, including eligible LINK Stakers.
Chainlink Rewards launched with Season Genesis, where @SpaceandTimeDB made 100M SXT tokens (2% of supply) available for claiming by eligible LINK stakers.
An additional 100M SXT is planned to be made available in the future of Chainlink Rewards.
2. Chainlink launched SVR on Ethereum, featuring @aave as the first user.
Built in collaboration with @bgdlabs , Flashbots, & @aave DAO contributors, SVR is a novel oracle solution that enables DeFi apps to recapture oracle-related MEV when using Chainlink Price Feeds.
SVR enables DeFi apps to generate new revenue streams while also supporting the economic sustainability of Chainlink oracles.
SVR was adopted by Aave for an initial set of markets on its V3 Ethereum deployment, with plans to expand to more asset markets.
3. Chainlink Payment Abstraction officially went live on mainnet, which enables user fees to be converted into LINK and paid to service providers.
Network fees generated from Chainlink SVR—including @aave 's usage of SVR—will now be converted to LINK.
Payment Abstraction is a cross-chain-enabled payment system that automatically converts network service fees into LINK, ultimately reducing payment friction in the Chainlink Network.
The service uses a combination of Automation, Price Feeds, CCIP, and a DEX.
Chainlink Economics continues to evolve, with the goal of creating a virtuous cycle that fuels the growth of the Web3 ecosystem while driving the economic sustainability of the Chainlink Network.
Learn more about Chainlink Economics👇
