/biz/ - Business & Finance

drunkanon here
just poured some scotch while waiting stake to be juicy

Something will happen tomorrow. Roll quads and I'll spill the beans. Pic is definitely related.

Something will happen tomorrow. Roll quads and I'll spill the beans. Pic is definitely related.

Imagine you are a defi protocol using the Chainlink reference data. Currently you're probably only paying 5% of the real costs, with chainlink incentive wallet covering for most of it.

The current model is satisfying enough for your end security, and staked collateral wasn't designed for your type of usage. But you're the only users.

The Chainlink team however insists to introduce the feature, and since customers aren't willing to pay extra for what is essentially an extra feature they do not need, they decide to cover the expenses themselves once again through the incentive wallet.

Staked collateral was designed for very high value smart contracts for the enterprise and traditional finance industries, for which there is no demand and interest. Similarly, the service agreements have seen zero usage in one year. There is no direct customer usage, only indirect through the reference model of shared expenses, what you could the public good model.

The public good model being their only used oracles as of now, now ask yourself how would staking work in this scenario?

The average node call price is 0.16 LINK. 1 dollar per node per call. Now let's be optimistic and say each node is covering 100 jobs, which is still far from the case. The total value required to be staked in each node would be 100 dollars at best. Right now it's more like 10 jobs per node so it would be 10 dollars. This is the current real value of the chainlink network. 10 dollars! It's way over valued at 2 billions. This is pretty basic maths and cannot be refuted.

And you delusional cultists think everyone will be able to stake 2 billions usd worth of tokens to generate 5-10% returns. To cover 10 dollars worth of calls! And who's gonna pay for it?

Releasing the staking mechanism would actually be disastrous for the link price, as the market would quickly remark its completely pointless and no one wants to use it.

Imagine you are a defi protocol using the Chainlink reference data. Currently you're probably only paying 5% of the real costs, with chainlink incentive wallet covering for most of it.

The current model is satisfying enough for your end security, and staked collateral wasn't designed for your type of usage. But you're the only users.

The Chainlink team however insists to introduce the feature, and since customers aren't willing to pay extra for what is essentially an extra feature they do not need, they decide to cover the expenses themselves once again through the incentive wallet.

Staked collateral was designed for very high value smart contracts for the enterprise and traditional finance industries, for which there is no demand and interest. Similarly, the service agreements have seen zero usage in one year. There is no direct customer usage, only indirect through the reference model of shared expenses, what you could the public good model.

The public good model being their only used oracles as of now, now ask yourself how would staking work in this scenario?

The average node call price is 0.16 LINK. 1 dollar per node per call. Now let's be optimistic and say each node is covering 100 jobs, which is still far from the case. The total value required to be staked in each node would be 100 dollars at best. Right now it's more like 10 jobs per node so it would be 10 dollars. This is the current real value of the chainlink network. 10 dollars! It's way over valued at 2 billions. This is pretty basic maths and cannot be refuted.

And you delusional cultists think everyone will be able to stake 2 billions usd worth of tokens to generate 5-10% returns. To cover 10 dollars worth of calls! And who's gonna pay for it?

Releasing the staking mechanism would actually be disastrous for the link price, as the market would quickly remark its completely pointless and no one wants to use it.

How long will it take for exchanges to offer staking after it is publicly accounced? I chose to spend my money buying up as much LINK as possible instead of diversifying in Linkpool tokens, so I'm planning to use exchange staking services. How much can we expect to make from staking?