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21216822 No.21216822 [Reply] [Original]

Would it theoretically be possible to put 100k chainlink in a new ethereum wallet (wallet A) stake it, set up a smart contract such that all staking rewards are automatically sent to a different wallet (wallet B), and burn the private key of wallet A such that they can never be sold, only staked and the rewards collected

>> No.21216873

>>21216822
yes

>> No.21216913

Theoretically you can make a token contract, which would hold the link and you could claim staking rewards from it (or it can't send periodically maybe, but someone has to pay gas)

>> No.21216932

>loses ownership to wallet b
kek, you will lose it all

>> No.21216985

>>21216932
this

>> No.21216996

>>21216822
You'd still need eth to execute said smartcontract, and it will eventually run out.

Unless arbitrum fixes shit and makes everything run on link

>> No.21217058
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21217058

>>21216822
Checked & burntprivatekeypilled; you would thereby permanently increase the value of all LINK... but you should totally just hide encrypted or obfuscated copies of the key around the world, because, hey, who knows: you might want to move all that LINK for some reason some day.

>> No.21217279

Or what if chainlink migrated off the Ethereum network, further down the line? You might need the key to sort that out. I'm not a computer scientist, so that's just a complete guess

>> No.21217333
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21217333

>>21216822
>is it possible to literally just throw money away?
Why yes, yes it is anon

>> No.21217881

>>21216822
or you could setup a timer, like the function to withdraw the tokens, can only be used after 20 years

>> No.21218298

>>21216822
You could but if LINK migrates you will get screwed... I think there is a limit on how many years you could do too. I think, and don’t laugh, that you could use REQ to set something like this up without those flaws... <_<

>> No.21218325

>>21216822
Well theoretically we are all made of cheese, so it could be possible.