New token & contract models
On January 25, an interesting conversation started on LinkPool Telegram in which a question from the user Permabulltard prompted Jonny to share some details regarding the dynamics of the new distribution contracts and the new LinkPool token.
What conclusions can we draw from this conversation? In case someone missed it, I will try to summarize the main points below:
New supply
The new ERC20 LinkPool token will have a supply of either x25, x250 or x2500 of the current one, i.e either 100k, 1 million or 10 million.
Stake the LinkPool token
In order for you to be able to continue to receive rewards you will have to stake/ lock your LinkPool tokens in the new distribution contract. So, you will receive stkLinkPool tokens that represent your rights to unstake your LinkPool tokens from the contract.
Current distribution mechanism will change
With this new system, instead of dividing revenue evenly among the 4,000 LinkPool tokens, said revenue will be divided only among LinkPool tokens being staked.
Farewell comfy distribution Sundays
LinkPool token holders will constantly earn LINK rewards that they can withdraw whenever they wish instead of being airdropped every other Sunday.
Derivatives
It has been hinted that this new contract mechanism will have a few similarities to Aave’s aTOKENS. In this sense LinkPool holders will receive derivative tokens that represent the LINKs that your staked LinkPool tokens have obtained over time and will be updated in real time. lpLINK, perhaps?
Strategies and new products
Additionally to the Telegram discussions, Mat Beale hinted in Twitter in late January that we will be able to put our LINK to work even before staking is released. What does that mean? Well, we can guess what is this about thanks to the fact that Mat -being the professional teaser he is- couldn’t help but to tease a bit more and left us with this enigmatic tweet a few months ago. Could this be the dawn of a new DeFi product related to LinkPool, nodes and LINK liquidity? We will have to wait to know more details, however, there is something we actually know, and that is the announcement of this product will be part of a bigger announcement LinkPool is planning around the new ERC20 token.
Sources
The source of this information are the discussions that happened on 25 January 2021 in the official LinkPool Telegram and Mat Beale’s Twitter:
