PANews reported on April 1st that, according to The Defiant, Chainlink has launched its payment abstraction system on the mainnet, enabling users to pay for Chainlink services using various assets (such as gas tokens and stablecoins), which will be automatically converted to LINK through Uniswap. The system aims to reduce payment friction and enhance user experience within the Chainlink network.
The initial application of the payment abstraction system is combined with Chainlink Smart Value Recapture (SVR), where network fees generated by SVR (including Aave usage) will be converted to LINK. Aave, as the first user of Chainlink SVR, will enjoy a six-month discount, with the recaptured maximum extractable value (MEV) allocated at a 65/35 ratio, where 65% belongs to the Aave community and 35% to the Chainlink ecosystem.
Initially, Chainlink SVR fees were used to pay oracle rewards for existing node operators, with plans to transfer these fees to LINK stakers once Chainlink staking ensures the security of the node set powering SVR. This move is part of Chainlink's strategy to enhance the economic sustainability of its network and establish LINK as a universal gas token.
