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October 4, 2022
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Has Chainlink (LINK) just entered the Grayscale Investments offer list?

“LINKies” come together

Someone set up a Chainlink product (LINK) under the guise of a Grayscale investment offering last month, documents from the Bizapedia business directory showed. Neither Grayscale or Chainlink made any comment, but given LINK’s rapid growth and growing use case last year, a ‘Grayscale Chainlink Trust’ product may not be such a far-fetched idea.

The news, however, helped the Chainlink marines to update themselves with the news, and with good reason.

“Grayscale Chainlink Trust (LINK)

Filed December 18, 2020 as a Delaware Domestic Statutory Trust

Is it real or just an elaborate larp? Only time will tell. ”

Chainlink is the largest oracle service in the world. Oracles are third-party tools that seek data from outside a blockchain into it, as blockchains are an armored storage medium of immutability, but they cannot verify the quality of the data that enters them.

This means that bad data can register on the blockchain, causing a series of problems and millions of dollars in losses. Chainlink helps to avoid this, in addition to being able to be an efficient payment system.

According to CryptoSlate’s DeFi page, Chainlink has a current market capitalization of over $ 8.4 billion and is currently trading at $ 20.6, witnessing a 6% gain in price after undergoing a wider settlement in the cryptocurrency market yesterday.

Chainlink and Grayscale

Grayscale is the largest cryptocurrency asset manager and investment platform in the world. It holds more than $ 25.5 billion in various cryptocurrencies (mainly Bitcoin) in nine trusts. Its products are some of the only regulated cryptocurrency offerings to be traded on public markets in the United States.

Grayscale’s products work as follows: the asset manager joins a custodian (such as Coinbase) to maintain a certain amount of cryptocurrency linked to that portion of the trust. Investors can then subscribe (with a six-month lock-in) or buy these shares on the open market.

Investors make money by growing their holdings. As the value of the underlying cryptocurrency increases, the price of the trust stock increases. And for the legally compatible service, Grayscale charges a considerable premium in the range of 10% to up to 200%.

A Chainlink trust would work in a similar way. Grayscale would hold a fixed amount of LINK per share, and accredited investors could purchase it through regulated OTC brokers in the USA.

Source: Cryptoslate

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