Chainlink announces the launch of Chainlink Payment Abstraction

#Chainlink launches Chainlink Payment Abstraction on mainnet, a cross-chain-enabled payment system that significantly reduces payment friction. Payment Abstraction allows users to settle payments for Chainlink services using alternative assets, which are seamlessly converted into $LINK through a combination of Chainlink Automation, Price Feeds, #CCIP and a decentralized exchange.

Payment Abstraction has been deployed into production with an initial focus on converting network fees generated by Chainlink Smart Value Recapture, an oracle solution that helps #DeFi apps reclaim non-toxic MEV from Chainlink Data Feeds. Recaptured fees are shared between DeFi apps and the Chainlink Network.

👉 blog.chain.link/payment-abstraction-svr-fee-conversion/