Chainlink (LINK): how it works, supply and reviews
In short
- Type
- Decentralized oracle network serving many blockchains; not a standalone blockchain
- Maximum supply
- 1,000,000,000 LINK
- Risks and caveats
- Unstaking takes a 28-day cooldown followed by a seven-day claim window, and leaving early may cost accrued rewards.
- Checked
- 28 October 2026
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Key facts
- Ticker
- LINK
- Official site
- chain.link
- Source code
- github.com/smartcontractkit/chainlink
Key facts checked on 28 October 2026 against official sources.
What is Chainlink
Chainlink is a decentralized oracle network that connects smart contracts on blockchains to outside data, systems and other blockchains. LINK is the token used to pay for Chainlink services and to stake for the network's security.
Network and consensus
| Parameter | Details |
|---|---|
| Type | Decentralized oracle network serving many blockchains; not a standalone blockchain |
| Runs on | LINK was first issued on Ethereum and moves to other chains through Chainlink CCIP |
| Token standard | ERC-677 (extends ERC-20 so transfers can carry data); 18 decimals |
| Programming language | Node software in Go; on-chain contracts in Solidity |
Supply and issuance
| Parameter | Details |
|---|---|
| Maximum supply | 1,000,000,000 LINK |
| Staking rewards | Staking v0.2 launched with a base floor reward rate of 4.5% per year in LINK for a filled community pool |
| Staking cap | Staking v0.2 launched with a total cap of 45,000,000 LINK |
On 28 October 2026: 767,000,000 LINK in circulation, 1,000,000,000 LINK in total (source: Chainlink Economics page (rounded figure, shown as 767 M+)).
What LINK is used for
- Paying fees for Chainlink oracle and cross-chain services
- Compensating node operators for delivering services
- Staking to back the network's cryptoeconomic security, with slashing for poor performance
- Building the Chainlink Reserve, funded by revenue converted into LINK
Who develops and governs Chainlink
- Founders
- Original whitepaper by Steve Ellis, Ari Juels and Sergey Nazarov
- Developer
- Chainlink Labs; core node software is maintained in the smartcontractkit GitHub organisation
- Foundation
- Chainlink Foundation (holds the Chainlink trademark and website)
- Open source
- Yes; node software is public on GitHub
History
| Date | Event |
|---|---|
| 4 September 2017 | Chainlink whitepaper v1.0 published. |
| 15 April 2021 | Chainlink 2.0 whitepaper published, describing the next stage of decentralized oracle networks. |
| December 2022 | Chainlink Staking v0.1 released. |
| November 2023 | Staking v0.2 upgrade introduces unbonding, slashing of node operator stake and a 45 million LINK cap. |
Security and audits
- The Staking v0.2 contracts were audited by several independent firms and went through a competitive audit on Code4rena.
- Staked LINK of node operators can be slashed if performance requirements are not met.
Official LINK contracts
| Network | Contract address |
|---|---|
| Ethereum | 0x514910771AF9Ca656af840dff83E8264EcF986CA |
| Arbitrum | 0xf97f4df75117a78c1A5a0DBb814Af92458539FB4 |
| Avalanche | 0x5947BB275c521040051D82396192181b413227A3 |
| OP Mainnet | 0x350a791Bfc2C21F9Ed5d10980Dad2e2638ffa7f6 |
| Solana | LinkhB3afbBKb2EQQu7s7umdZceV3wcvAUJhQAfQ23L |
Ethereum is the original issuance; the official docs list LINK addresses on many more networks.
Risks and caveats
- Unstaking takes a 28-day cooldown followed by a seven-day claim window, and leaving early may cost accrued rewards.
- Node operator stake can be slashed if performance requirements are not met.
- Moving LINK between chains through bridges carries bridge-specific risks, which the docs ask users to review.
Official links
- Website: chain.link
- Docs: docs.chain.link
- Whitepaper: research.chain.link/whitepaper-v2.pdf
- Source code: github.com/smartcontractkit/chainlink
- Staking: chain.link/economics/staking
Questions and answers
What is Chainlink?
Chainlink is a decentralized oracle network that brings outside data and cross-chain messaging to smart contracts. LINK pays for its services and secures it through staking.
Who created Chainlink?
The original 2017 whitepaper was written by Steve Ellis, Ari Juels and Sergey Nazarov; Chainlink Labs develops the software.
What is the maximum supply of LINK?
The total supply is capped at 1,000,000,000 LINK.
What blockchain is LINK on?
LINK is an ERC-677 token first issued on Ethereum, and it can be moved to other chains with Chainlink CCIP.
Sources
- CoinGecko — Chainlink
- CoinPaprika — Chainlink
- Chainlink — home page
- Chainlink — Economics
- Chainlink — Staking
- Chainlink docs — LINK Token Contracts
- ChainLink: A Decentralized Oracle Network (whitepaper v1)
- Chainlink 2.0 whitepaper
- GitHub — smartcontractkit/chainlink
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