stake.link

stake.link is a liquid staking protocol built on Chainlink's Economics 2.0. Its core business is simple: users deposit LINK tokens, and in return receive stLINK, a liquid receipt token. These stLINK tokens can be further wrapped into wstLINK for use in DeFi lending and trading, while the underlying LINK is staked with node operators to secure Chainlink's oracle networks. The protocol also issues SDL as a governance token, allowing holders to vote on key parameters.

The main pain point it solves is the illiquidity of traditional staking. In standard staking, LINK is locked up, preventing users from using their assets elsewhere. stake.link releases this liquidity, allowing users to earn staking rewards and DeFi yields simultaneously. Its competitive edge lies in its non-custodial design, a priority queue mechanism that prevents front-running for staking capacity, and a roadmap to expand into a multi-chain LST index, starting with stPOL on Polygon.

Regarding recent developments over the past six months (March to September 2026), public information is limited. The protocol's documentation confirms the ongoing operation of its core staking and wrapping functions, and the expansion to Polygon via stPOL appears to be in progress. However, no major upgrades or significant incidents were publicly reported during this period. One notable negative point from the past two years: the protocol faced criticism regarding the concentration of node operators, though this is a common industry-wide concern rather than a unique flaw.