#Chainlink launches the strategic Onchain Reserve Fund $LINK!
@Chainlink has just announced the Chainlink Reserve Fund, a new upgrade aimed at supporting the long-term growth of the network by accumulating LINK tokens from both onchain revenue and offchain enterprise payments.
Using Payment Abstraction, onchain and offchain revenue will be programmatically converted to LINK through Chainlink services and decentralized exchanges. This approach allows businesses — including some of the largest banks and financial institutions in the world — to pay in their preferred currency, which is then converted to #LINK.
Currently, more than 1 million USD worth of LINK has been secured in the Reserve Fund since its initial launch phase. Chainlink does not plan to withdraw capital for many years, allowing for stable growth over time. With businesses adopting and the demand for Chainlink's capabilities rapidly increasing, this reserve fund is expected to become an important long-term asset for the Chainlink network.