A mysterious company appeared in the US state of Delaware. But is Grayscale behind that?
Someone set up a Chainlink (LINK) product under the guise of a Grayscale Investment program last month, documents from company directory Bizapedia shows.
Neither Grayscale nor Chainlink made any comments, but given LINK’s rapid growth and its growing use cases over the past year, ‘Gray scale link chain reliability’ the product may not be a far-fetched idea.
However, this news kept the Chainlink ‘Marines’ up to date, and so on.
Grayscale reliable link chain (LINK)
Filed on 18 December 2020 as Delaware Domestic Statutory Commission
– ChainLinkGod.eth (@ChainLinkGod) January 21, 2021
Chainlink is the world’s largest prophetic service. Oracles is a third-party tool that fetches word data outside a blockchain inside it, because blockchain is an iron storage medium and immutability can not verify the quality of the data within them.
This means that bad data can self-register on the blockchain, causing a variety of problems and millions of dollars in damage. Chainlink helps to avoid this, while also potentially becoming an efficient payment system.
According to livetechit’s DeFi site, Chain link has a current market cap of over $ 8.4 billion and is currently trading at $ 20.6, seeing a 6% gain in price following a broader money market sell-off electronics yesterday.
How Chainlink will stand out in Grayscale
Grayscale is the world’s largest cryptocurrency asset management and investment platform. It holds the value of more than $ 25.5 billion of various cryptocurrencies (mainly Bitcoin) across nine “trust funds”. Its products are some of the only regulated cryptocurrency services for trading on public markets in the US.
How Grayscale’s products work like this: the asset manager associates with the custodian (such as Coinbase) to hold a certain amount of cryptocurrency tied to that “trust” stake. Investors can then register (for a six-month lock-up) or buy those shares on the open market.
Investors make money with the growth of their holdings. As the value of the underlying cryptocurrency increases, the price of the trust shares increases. And for legal compliance services, Grayscale charges a sizable premium ranging from 10% to as much as 200%.
Chainlink trust will work in a similar way. Grayscale will keep a fixed amount of LINK per share and accredited investors will be able to buy it through regulated OTC brokers in the United States.
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