Stake.link has chosen to integrate with the Arbitrum network to provide users with more staking flexibility and pave the way to lower gas fees for the Chainlink community.
Stake.link, the liquid staking platform built on the Chainlink (LINK) staking system, has announced its highly anticipated integration with the Arbitrum (ARB) network to enable better staking economics. The decision to integrate the Stake.link protocol with the Arbitrum network was made possible through a unanimous vote of approval by the full council. According to the announcement, liquid Chainlink staking users can now take advantage of low gas fees at higher speeds on the Arbitrum network.
Additionally, the Arbitrum network has grown into the leading Ethereum-based Layer 2 scaling solution with a total value locked (TVL) of over $3.2 billion.
With the latest expansion, Stake.link users can now stake LINK tokens and stake.link’s SDL governance token on Arbitrum and receive NFTs representing the staked SDL (called reSDL).
Additionally, Stake.link users can now bridge their stLINK receipt tokens and convert them into wrapped staked LINK or wstLINK tokens onto the Arbitrum network.
The company noted: “The decision to cross-chain on Arbitrum paves the way for a more user- and gas-fee friendly staking experience for the Chainlink community, increasing accessibility by lowering the cost of participation. At the same time, LINK stakers will Be able to explore more revenue-generating DeFi activities on Arbitrum.”
The Stake.link protocol will benefit significantly from integration with the Arbitrum network, especially through its ecosystem grants program. Additionally, Arbitrum Network intends to reward protocols deployed on its network to ensure a sustainable future.
Additionally, the Stake.link protocol intends to work closely with Arbitrum-based decentralized exchange Camelot to provide additional incentives to LINK stakers through its native GRAIL token.
Learn more about the Stake.link protocol and the Chainlink staking program
The Stake.link protocol is currently the only liquid staking platform to offer the Chainlink staking plan, with higher rates of return.
The Stake.link protocol offers users a mixed reward rate of approximately 8.36%, while Chainlink’s staking plan is 4.32%. Therefore, the Stake.link protocol has successfully attracted more LINK stakers seeking high returns on their initial investment.
Additionally, Stake.link protocol users can seamlessly exchange stLINK and LINK between Curve Finance networks. As of this writing, there are approximately 64,948 stLINK and approximately 72,947 LINK in Curve Finance’s stLINK/LINK pool, with a total value of approximately $2.63 million.
The Stake.link protocol enables anyone in the Chainlink community to stake their LINK assets to 15 major Chainlink node operators and receive rewards in the form of stLINK.
Chainlink’s staking program has been on the Ethereum mainnet for about 14 months and has become popular among retail traders and institutional investors. #Stake.link #Arbitrum
