Chainlink said its dedicated treasury fund, the Chainlink Reserve, purchased an additional 42,298
Chainlink said its dedicated treasury fund, the Chainlink Reserve, purchased an additional 42,298.22 LINK tokens on 28 August, bringing the reserve’s total holdings to 193,076 LINK.
At the fund’s reported average cost basis of US$21.90, the latest acquisition is valued at about US$1 million and lifts the reserve’s portfolio to roughly US$4.8 million. Chainlink added that about 90 percent of the new tokens were bought with USDC swapped for LINK on the Uniswap decentralised exchange, while the remaining 10 percent came from fees generated by users of the oracle network.
The reserve programme, launched to support the long-term growth and sustainability of the Chainlink ecosystem, has been making weekly token purchases. The company did not detail the schedule or size of future inflows but reiterated that the fund’s objective is to provide ongoing liquidity and stability for the network’s oracle services.
This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.
Source: https://thedefiant.io/news/blockchains/chainlink-reserve-adds-42000-link-raises-treasury-to-4-8-million-f2dec55e
