[Tutorial] Participate in Huobi Earn’s LINK (Chainlink) Staking !
🔹What is Chainlink?
Chainlink is a decentralized oracle network. They describe the on-chain components that Chainlink provides for contracts to gain external connectivity, and the software powering the nodes of the network. They present both a simple on-chain contract data aggregation system, and a more efficient off-chain consensus mechanism. Learn more here
🔹 Chainlink’s Official Statement
The beta version of Chainlink staking mechanism (v0.1) will open Early Access to node operators and eligible addresses with priority access.
For node operators, they are expected to get an effective annualized rate of return (ARR) of about 7%. On Dec 8, General Access will be open to community members who stake LINK with an expected effective ARR of about 4.75%.
The actual ARR depends on LINK staking. The next staking version (v0.2) will be launched within 9–12 months. By then, v0.1 participants can unlock or migrate their staked LINK and staking rewards. Before the v0.2 version is launched, v0.1 participants cannot unlock staked assets in advance.
🔹How can you participate in Chainlink’s V.0.1 Staking with Huobi?
- Download the Huobi App here.
- Click “More” on the Huobi App on the front page of the app by scrolling right on the middle area.
3. Select “Staking” on the available options
4. Press “Stake Now” on the asset you want to stake. For example, Link or Chainlink staking.
5. Input the amount of link tokens you wish to stake or click max for your entire link portfolio. Please note the lock or staking period.
6. Congrats! You have completed staking link on Huobi Earn. You will now receive staking rewards based upon the node operation of the link ecosystem.
🔹For full details about Chainlink staking and FAQ’s please visit the overview page from their official community page here.
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