Chainlink Prices Fall After Launch of New Staking Protocol
Chainlink (LINK) prices have experienced a decline following the release of Chainlink v0.2 and its new staking system. This decrease can be attributed to specific conditions associated with the staking protocol.
Borroe Finance Raises Over $1.9 Million in Presale
Borroe Finance (ROE) is currently trending higher after successfully raising over $1.9 million during its ongoing presale. These funds will be utilized for various purposes such as project launch, technical support, and forming partnerships.
Chainlink’s New Staking Protocol Opens to Public Access
On December 11, Chainlink announced that their new staking protocol, Chainlink Staking v0.2, is now available to the public. Users can stake LINK tokens and earn a variable reward of 4.3%. The community pool was filled during the early access phase, allowing anyone to stake LINK once an existing staker withdraws their tokens.
#Chainlink Staking v0.2 has officially entered General Access.
With the community pool having been filled during Early Access, anyone can stake LINK whenever an existing staker completes a withdrawal and pool space becomes available.https://t.co/Gdt5FiQmOR
— Chainlink (@chainlink) December 11, 2023
Since the public launch, over 40.8 million LINK tokens have been staked as users migrated to v0.2. However, immediate access is only granted to new users, as they have to wait for existing stakers to withdraw their tokens.
Chainlink Prices Experience a Decline
Following the launch of the new staking protocol, the price of LINK has dropped by 14.38%, falling from $16.36 to $14.01 between December 11 and December 17. Despite this decline, experts believe that the token has the potential to rise to $20.00 in future trading sessions.
Borroe Finance Raises $2 Million in Funding
Borroe Finance has successfully secured $2 million in funding, which will be used for activities such as project launch, technical support, and forming partnerships. The platform aims to create an AI-powered funding marketplace for web3 content creators to trade their future earnings for money.
The platform follows web3 principles of decentralization, inclusivity, and transparency and allows businesses to raise funds by converting their future earnings into non-fungible tokens (NFTs) and selling them at discounted prices to supportive communities.
Hot Take: Chainlink Faces Price Decline Following Staking Protocol Launch
The release of Chainlink’s new staking protocol has resulted in a decline in LINK prices. Despite the initial excitement surrounding the protocol’s public access, the need for existing stakers to withdraw their tokens before new users can participate has impacted the token’s value. However, experts remain optimistic, predicting that LINK prices could reach $20.00 in future trading sessions. Meanwhile, Borroe Finance has raised over $1.9 million in its presale, positioning itself as a promising platform for web3 content creators to trade their future earnings for funding.
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