Zach Rynes | CLG

Most people's mental model of Chainlink $LINK is completely wrong Here's why👇 People often think of oracles as simple middleware bolted to the side of a blockchain, simply injecting price data In their mind, Chainlink is "just an oracle" so who cares right? A more complete mental model is that Chainlink is the global orchestration layer that sits above and across all blockchains and external systems A unified platform that enables organizations to create advanced business workflows spanning any number of blockchains, legacy systems, and oracle services, all powered by a decentralized runtime environment This matters now more than ever because we are entering a Cambrian explosion of blockchains of all kinds (public & private, L1 & L2, DeFi & TradFi, EVM & non-EVM) The cost and friction of launching a new blockchain network has never been lower And what we have seen historically is that in order for a blockchain to be successful, it needs critical oracle services: - Data oracles: DeFi needs market data to secure lending and derivatives, while TradFi needs NAV data for tokenized funds and corporate actions data for tokenized equities. Proof of Reserve provides public visibility into the reserves backing tokenized assets - Cross-chain oracles: Digital assets in both DeFi and TradFi need to be securely transferable across any public or private blockchain to access a greater pool of buyers, minimizing liquidity fragmentation and enabling advanced settlement workflows - Compliance oracles: Regulated tokenized assets need to comply with various regulations and internal business logic rules around identity verification and risk management to become adopted by institutions - Privacy oracles: Sensitive information needs to be made accessible to blockchain apps without revealing the underlying data, while private chains need to connect to public chains while only selectively revealing what is needed to complete transactions - Legacy-system oracles: Institutions want to access public and private blockchains using their existing infrastructure and messaging standards (Swift, FIX, DTCC) through a single integration gateway rather than manually integrating with thousands of chains individually - Orchestration oracles: Institutions need to be able to coordinate complex business workflows that span multiple blockchains, legacy systems, and oracle services through a simple API gateway Chainlink is the only unified platform that provides all of these solutions in a single offering, minimizing trust-assumptions and eliminating the complexity of using a patchwork of service providers This is how institutions adopt blockchains, not by betting on specific chains, but integrating with a unified platform that provides them access to any public or private chain While blockchains fiercely compete amongst each other to become the transactional database layer, Chainlink wins regardless of which chains are used For Chainlink, every new blockchain introduced to market is all the more justification for why organizations need a global orchestration layer to manage the complexity Financial market infrastructures like Swift, DTCC, and Euroclear understand this, which is why they have adopted Chainlink alongside J.P. Morgan, Mastercard, Central Bank of Brazil, UBS, SBI, Fidelity International, ANZ, and many others In addition to powering the DeFi economy (70%+ marketshare globally, 80%+ on Ethereum, and 90%+ on L2s), Chainlink directly monetizes the integration and deployment of its services on blockchains via the Scale program and enterprise deals Onchain revenue from the usage of Chainlink services, as well as offchain revenue from Scale and enterprise deals, directly fuel $LINK token buybacks which grow the Chainlink Reserve Chainlink services have already enabled $28+ trillion in transaction value across 77+ blockchain networks via 2,000+ oracle networks used by 500+ applications, with more public and private blockchains regularly integrated all the time Today, developers build on blockchains and plug into Chainlink In the future, developers will build on Chainlink and plug into blockchains The result is straight forward: More blockchains ↓ More Chainlink adoption ↓ More onchain & offchain revenue ↓ More $LINK token buybacks ↓ Chainlink's dominance compounds

@mwturetzky @krakenfx I misread this as Ethena and was very confused

@krakenfx entrusted Etana with millions of dollars that it was supposed to safekeep but has failed to return. Today our federal lawsuit against Etana and its CEO is calling it what it is: fraud. Complaint here: bsfllp.com/a/web/7vyvfrjK…. 1/3 🧵

@arkham Two different currencies though? USD vs OSRS GP What’s the price of ETH, valued in OSRS GP?

If you bought Coal on Runescape 1 year ago you outperformed Ethereum

@wagmiAlexander @CatfishFishy @DefiLlama @artemis @tokenterminal @Blockworks Makes sense, should be simple update

@ChainLinkGod @CatfishFishy @DefiLlama @artemis @tokenterminal @Blockworks Might just be as easy as someone from the community opening a ticket for them.

Token Revenue — a token’s direct claim on protocol value: fees, buybacks & burns flowing to holders. Token Emissions — the full cost token holders subsidize: inflation, unlocks & rewards entering circulation. A framework to separate the signal from the noise.

@wagmiAlexander @CatfishFishy @DefiLlama @artemis @tokenterminal @Blockworks I don't think either site has a "holder revenue" metric. DefiLlama has fees, revenue, and earnings. Tokenterminal has fees and revenue. DefiLlama's methodology is open source if needed, it's onchain info github.com/DefiLlama/dime…

@ChainLinkGod @CatfishFishy @DefiLlama @artemis @tokenterminal @Blockworks Looks like them tracking it as protocol rev, not holder rev is the issue — the dash is focused on the latter. Unless I’m missing something, I think they should be tracking it as holder revenue? Might be as simple as reaching out since the buybacks are new.

@wagmiAlexander @CatfishFishy @DefiLlama @artemis @tokenterminal @Blockworks Chainlink Reserve buyback revenue is actively tracked on both DefiLlama and TokenTerminal defillama.com/protocol/chain… tokenterminal.com/explorer/proje…

@ChainLinkGod @CatfishFishy I’ve scoped out a way to potentially add it, but it’s just difficult seemingly I can’t pull from a 3rd party source. It’s surprising given the size and scale of $LINK. Have y’all been in touch with @DefiLlama, @artemis, @tokenterminal, @Blockworks, etc?

@CatfishFishy @wagmiAlexander Over past 90 days, that’d be ~$14M, or #6 on the token revenue list above

@wagmiAlexander >x.com/chainlink/stat… Chainlink has verifiably bought over 3.4M LINK tokens off the open market using an onchain dex. Buying $1.1M worth of tokens per week.

NEW: High-speed HYPE markets now live on @Polymarket, secured by Chainlink. Chainlink-powered Polymarkets → $6B+ in volume and accelerating. Hyperliquid.

🚨Attention all eligible LINK Stakers The final day to claim your rewards from Chainlink Rewards Season 1 is July 7, 2026. All tokens unlocked, no penalty to claim. 👉 Claim now: rewards.chain.link 👈

@Polymarket Instant settlement powered by Chainlink 🤝

Hyperliquid up or down? 5 minute up/down HYPE polymarkets are now live.

Genuinely this is a great image It not only tells the story of how Chainlink is at the center of everything (literally and visually), connecting blockchains to tokenized RWAs But it showcases how there is nobody else in Chainlink's category, there is no real competition

Grayscale highlighting how Chainlink $LINK is at the center of it all "Grayscale believes Chainlink may represent one of the best 'picks and shovels' opportunities in tokenization because it provides critical middleware services across the lifecycle of tokenized assets."

Cross-chain should be secure by default. Our space is already so small, let's make sure the developers we have, are focused on building the best products to take us to the mainstream. They shouldn't have to worry about setting up their own bridge security, just like they don't have to worry about it for a chain. Chainlink node operators will make sure your system is secure, go and build the future in the meantime.

Introducing Pre-IPO Perpetuals (IPOP). The weeks before an IPO are some of the most consequential in a company’s price history, and historically, the least observable. Private market quotes are stale and gated and Public markets haven’t started trading yet. Peak interest coincides with an absence of prices. We’re introducing IPOP markets on XYZ to change that.

syrupUSDC and syrupUSDT. Supply stablecoins. Access yield from institutional credit, overcollateralized loans, Tier 1 off-chain custody, and T-bill liquidity buffer. Redeem on a rolling basis. Bridge cross-chain via @Chainlink CCIP. Not incentives. Not composability. Credit.

PST meets institutional infra. Following an extensive security review, Huma selects @chainlink CCIP as the exclusive cross-chain infrastructure for PST and all future yield products. $12B+ in total transaction volume & zero credit defaults needs the highest safety standards.

Just released: “Chainlink in Plain English” – why Chainlink matters for stablecoins, tokenization, and mass-scale adoption. Written for traditional investors, by crypto experts. Share it with the Chainlink skeptic in your life. bitwiseinvestments.com/crypto-market-…

@mangohedonist @Bitwise I was here first, he should change

New @Bitwise paper covers why Chainlink $LINK is mission-critical infra for onchain finance Blockchains are powerful but isolated by default, like computers without an internet connection Chainlink connects them to the real world The reach today: ✅ 70+ major financial institutions rely on Chainlink including Swift, DTCC, ICE, UBS, and Mastercard ✅ 70% of the oracle market by total DeFi value secured ✅ $30T in transaction value enabled (+40% YoY) ✅ $60B in total value secured (+41% YoY) As stablecoins, tokenization, prediction markets, and DeFi go mainstream, Chainlink sits at the center of every use case

Read the full report ⬇️ bitwiseinvestments.com/crypto-market-…

Read the full Grayscale report ⤵️ research.grayscale.com/reports/invest…

New @Grayscale report covers why Chainlink $LINK is one of the best "picks and shovels" opportunities in tokenization 🔥 Chainlink provides the data, interoperability, compliance, privacy and orchestration standards that power the full end-to-end lifecycle of tokenization @willhamilogden and @LowBeta break down every stage: ✅ Asset tokenized onchain → Chainlink Proof of Reserve → Verify assets are backed ✅ Investors onboarded → Chainlink Data Feeds → Provides intraday net asset value (NAV) data ✅ Asset begins trading onchain → Chainlink ACE → Enforces KYC and jurisdiction polices ✅ Asset moves to new chains → Chainlink CCIP → Facilitates secure cross-chain asset transfers ✅ Asset makes dividend or coupon payment → Chainlink CCIP and Function → Connect to offchain systems for administration ✅ Asset used as collateral in DeFi → Chainlink Data Feeds → Validate asset value for margin requirements An advanced institutional workflow, spanning multiple chains, enterprise systems, and APIs, all coordinated by the Chainlink Runtime Environment (CRE) Importantly, Chainlink is fully blockchain-agnostic, so it doesn't matter which chains are adopted by capital markets, they all still need Chainlink "It is hard to imagine the tokenization of capital markets playing out without tools like Chainlink, regardless of which blockchain is leading." The two other service providers named in this section, Securitize and Ondo, both use Chainlink to power the distribution of their tokenized assets across onchain finance