Dear Chainlink,
A desperate plea for the marines. Not meant as FUD, but truly as a call for more action.
PLEASE DO MORE FOR TOKEN HOLDERS. I have been a loyal marine for years. Unfortunately I did not buy your token prior to its first epic bull run so I have essentially only experienced the eras of chop or down-only. Yet I am irresponsibly long. I am so because I truly believe that you are a generational company that will help usher in a new, more transparent, and more efficient financial system. I believe Sergey is an S-Tier founder and has an uncanny knack for seeing into the future.
But you have literally built the company subsidized by selling tokens -mostly to working class retail buyer like myself. Isn’t it time to start to throw us some more scraps?? Based on what limited clues we have been given over the years, the company generates an immense amount of revenue off chain. Yet it continues to dump supply on our heads. Is that really necessary? Yes, the reserve has been a solid gesture, but you continue to be massive net sellers. Why? If you yourselves truly believe that the link token has significant upside potential, doesn’t it make way more sense to hoard those assets that could be used to pay node operators in the future at a current discount? It is very concerning to me that your plan seems to be to just continue selling until you have none of your own supply.
The build rewards program has been a complete debacle for token holders. Presented as one thing but delivered as a watered down and insignificant version.
Staking updates feel like they are nearly a decade overdue at this point. The fact that loyal marines can’t even stake their tokens for a modest return is frustrating. (I realize there is a viable workaround with SDl, but that is besides the point). I own some LINK etfs and I would love to see them issuing staking rewards.
There has been very little transparency regarding the financials of the company. Is fee abstraction live? Can we get a dashboard? Why has CCIP volume seemed to increase this year but fee revenue is flat? Some may argue that the company has every right to keep that information private - and it absolutely does…. But for a company built to serve an industry founded on the principle of ‘don’t trust, verify’ is it not reasonable to ask for more for the most loyal supporters? Even the reserves aren’t technically locked in any way. You basically just said ‘trust us bro, we won’t use them for a long time’.
If the company itself signaled to the market that they themselves project significant future token value by becoming net accumulators, instead of sellers - wouldn’t that drive immense value to the token? Value that would be captured by Chainlink, its employees, and all marines. Projects all across this industry drive value to their tokens through buybacks, burns, lockups , etc. I think Chainlink has badly missed in this arena to date and is behind the times.
The good news… it’s not too late to make some much needed changes and make it better for everyone.
With love
@ChainLinkGod @chainlink @AndrewMcMarkets @AriJuels @SergeyNazarov