/biz/ - Business & Finance

>>58435600
this just tells me that 10 billion mc pumps are literally nothing with the potential of institutions

I think by next year, we will see 4T total crypto marketcap

>>58275686
I found an answer on discord:

>The LINK fee paid for using Chainlink's Cross-Chain Interoperability Protocol (CCIP) is used to support the operation and security of the network. Specifically, the fees are directed towards the service providers, such as node operators, who help maintain the network's functionality and security.

>When you pay a fee for using CCIP, the fee is used to cover various costs associated with the operation of the network. This includes gas cost overheads and a premium portion of fees for payments made in alternative assets. The premium portion of fees paid in alternative assets will have a surcharge of 10% versus LINK payments.

>In the future, Chainlink is planning to implement an automated on-chain conversion mechanism where fee payments made in alternative assets are auto-converted into LINK. Until this mechanism is deployed, payments made in alternative assets will be withdrawn to separate maintenance pools and replaced within the CCIP contracts with LINK based on the exchange rate at the time of payment. LINK will then be paid to service providers like node operators.

So basically, the following fee conversions take place right now:
Scenario 1:

>End User buys link at marketprice (buypressure for link token) to trade
>link token then gets directly distributed to node operators (and CLL for supporting staking probably for now) (no change in price action)
>node operators and or stakers can sell their link (sellpressure for link token)

Scenario 2:
>End User interacts with marketplace and uses wETH as payment fee (no change in price action)
>wETH then gets sent to maintenance pools and exchanged to link at marketrate (buypressure for link token)
>maintenance pools distribute link to node operators and stakers (no change in price action)
>node operators and or stakers can sell their link (sellpressure for link token)