SLURP-11 | Priority Pool Deployment and Strategy for Chainlink Staking v0.2 Expansion

Abstract

This SLURP introduces the Priority Pool, enabling LINK stakers to use stake.link to put their LINK in standby mode. When staking space becomes available, the LINK in the Priority Pool is automatically staked. This system prioritizes reSDL holders, offering a segmented queue managed via an adapter.

Additionally, this SLURP describes the general strategy - and the specific Strategies - that will power how stake.link interacts with Chainlink Staking v0.2

Rationale

The Priority Pool aims to make the staking process on stake.link more accessible and user friendly, and turns stake.link into a “set it and forget it” LINK staking platform. The Priority Pool enables users to queue an amount of LINK to be automatically staked when capacity opens. This design prioritizes simplicity and fairness, addressing significant concerns from the community about potentially missing out on staking events due to unpredictable staking pool availability.

By establishing the Priority Pool and staking into a portion of the Community Pool, stake.link will enable a new segment of users who previously missed out on the relatively short window to stake in Chainlink Staking v0.1.

Specification

Priority Pool

• Two Pool System: An automated pooling system with prioritization for LINK from reSDL holders.
• Management: All queue logistics are managed by an adapter using a merkle tree to record staking allocations and staked amounts by user address.
• User Dynamics and Staking Logic: Stakers can add LINK to the priority pool. Those with reSDL see their LINK prioritized. When staking space is limited, LINK is staked prorata from each user, considering both their reSDL balance and the amount of LINK they've added. There is no notion of queued position in the pool.
• Example Scenarios:
  • Constants: Alice and Bob are reSDL holders, Carol is not. Alice queues 20 LINK in the Priority Pool, then Carol queues 10 LINK in the Priority Pool, then Bob queues 10 LINK in the Priority Pool.
  • Scenario A: 40 LINK of space opens up. The Priority Pool stakes all of Alice and Bob’s LINK, and 10 of Carol’s LINK.
  • Scenario B: 20 LINK of space opens up. The Priority Pool stakes 13.33… of Alice’s LINK and 6.66… of Bob’s.

Staking v0.2

• Before the launch of Chainlink Staking v0.2, a new Strategy will be established that will automatically deposit any remaining LINK from the Priority Pool to the community pool once any reserved allocations have been filled, and general access has opened in Phase 3.
• During the migration period, new Strategies for the node operator staking allocations will be established, seamlessly migrating all existing LINK staked via stake.link from Chainlink Staking v0.1 to v0.2. Any additional staking allocations conferred during this period will be made available to stake.link users via the Priority Pool.

Copyright

Copyright and related rights waived via CC0.