Like most of us, you’re probably wondering when you’ll be able to actually stake your Chainlink (LINK) and generate income. Although the Chainlink Mainnet has been released for over a year, staking functionality hasn’t been implemented yet. All indicators point to staking being multiple months away at a minimum.
Chainlink Staking Release Date: TBA
Unlike many other blockchain projects, Chainlink does not give timelines or estimates for. On their Developer Documentation FAQ they state:
“We do not usually give time frames unless something is visibly near completion on the project tracker. This includes features, contracts, and integration with other projects.”
No official release date has been given as the team has stated they need to finish developing the penalty and deposit systems. The Chainlink team publicly shares all their development on pivotaltracker.com and Github. It can be assumed that penalty and deposit contracts will need to completed before staking can be released.
Will Staking Come out Before the end of the year (2020)?
During interview conducted by TheDefiant on May 29th, 2020, Segery Nazarov (Chainlink founder), hinted that staking could very well come out in the next year
“The chief focus is to make sure that decentralized financial products that are built in these various blockchain environments, get high quality data, and eventually get data with increasingly large guarantees (…) [those guarantees include] staking.”
Can I Stake Chainlink on Coinbase?
Coinbase has not made any announcements on whether they will support the staking of Chainlink on their platform. Currently they support staking for other cryptocurrencies including Tezos and Cosmos. However Chainlink staking is much more complicated and requires more effort to setup and maintain. It is likely that Coinbase will take longer to implement Chainlink staking.
Can I Stake Chainlink on Binance?
Like Coinbase, Binance has not said if they will support Chainlink Staking. Binance does seem to be much more active in supporting staking for a wider variety of cryptocurrencies. Right now they support staking for over 20 different cryptocurrencies. It is likely that Binance will integrate Chainlink staking into their platform eventually.