Stake.link expands horizons with cross-chain partnership on Arbitrum
Stake.link, the premier liquid staking solution for the Chainlink ecosystem, has recently announced a strategic expansion to Arbitrum, the Ethereum Layer-2 network.
This move allows stake.link to provide a more cost-effective and user-friendly staking experience for users seeking to stake LINK tokens and earn rewards, bypassing high Ethereum mainnet gas fees.
The partnership was approved following recent governance council votes.
This development significantly enhances the cryptoeconomic security of the ETH-USD price feed and contributes further to the 45 million LINK securing it.
Through its integration with Arbitrum’s cross-chain staking feature, stake.link offers a more straightforward approach for Chainlink participants to securely stake their LINK tokens with top node operators, resulting in stLINK token rewards.
The growth in popularity of Chainlink staking has led to increased gas fees and complications for everyday stakers on the Ethereum mainnet.
With Arbitrum offering a scalable solution, users now have the option to stake both LINK tokens and the SDL governance token directly on the network, receiving an NFT representing staked SDL (reSDL).
Users can also bridge their existing stLINK receipt tokens and convert them into wrapped staked LINK (wstLINK) on Arbitrum.
This expansion marks a significant step towards making Chainlink staking more accessible to the community, reducing costs, and improving the overall user experience.
In addition to the benefits for users, stake.link stands to gain from its close association with Arbitrum, which offers grants to projects deployed on its network.
Furthermore, stake.link intends to collaborate closely with Camelot, Arbitrum’s decentralized exchange platform, providing additional incentives through the GRAIL token.
Chainlink’s ecosystem currently has only one recognized external liquid staking provider, stake.link, which boasts the most lucrative LINK staking incentives.
The implementation of the Staking for the Ecosystem function led to the significance and indispensability of stake.link in the Chainlink ecosystem.
Stake.link is a novel platform developed by LinkPool, driven by chainlink node operators, and managed by the linkStake Decentralized Autonomous Organization for chainlink staking.
Arbitrum Arcade: A New Era for Ethereum Gaming
In a separate announcement, Arbitrum introduced Arbitrum Arcade – an innovative project that brings together game developers and content creators to showcase their creations on the Arbitrum network.
With a $200,000 prize pool, custom gaming PCs, and a diverse lineup of 24 exclusive games, the event promises excitement for players across various networks like Arbitrum One, Nova, and Orbit.
The deadline for game developers to put their creations online on the blockchain is March 15th. Content creators, on the other hand, are suggested to register beforehand by March 4th to develop exciting material associated with the prominent games.
For content creators to qualify for incentives, they need to have produced a minimum of 10 different types of web3 game videos in the last 60 days. Equally important is the commitment to create material associated with participating games weekly.
By minting NFTs on OpenSea, individuals may secure their spot for potential recognition on Arbitrum’s X account.
Game developers have until March 15th to deploy their creations on-chain to secure a spot in the event lineup.
iGaming.org
A diverse range of thrilling titles, including Ai Arena, Army of Tactics, BattleFly, and more, will be available during the eight-week event.
Players can record their in-game accomplishments using Clique, ensuring on-chain verification and transparency.
To ensure participation in the last week of the competition, gaming teams need to introduce their projects to Arbitrum’s platforms by April 15th.
The Arbitrum Foundation celebrates top achievements in gaming through weekly live broadcasts and rewards emerging content producers with awards and custom gaming PCs.
Moreover, through a new collaboration, Dispread, a leading South Korean firm focused on web3 and blockchain solutions, is teaming up with Arbitrum to tackle language and cultural hurdles, fostering Arbitrum’s expansion in the Korean market.
Wajeeh Khan
Wajeeh Khan is a financial researcher and writer with 7 years of experience. He has immense exposure to a range of financial assets, including stock, cryptocurrencies and forex - and is particularly well-versed in asset valuation, analysis, and portfolio management. Since 2016, Khan has worked with notable online platforms within financial journalism, including Invezz, Trading-Education, Dog of Wall Street, and News Break. All in all, he has written, editted, and published over 7,000 articles, guides, and market insight. Online casinos started as a hobby for Khan in 2018. But in only two years, it had already become another niche that he started actively researching. Over the past three years, he has written a diversified set of content around gambling for clients from all over the world. Academically, Khan has a Bachelor's in Economics and a Master's degree in Finance. He's also completed a bunch of courses on digital journalism and financial markets at large.
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