There is still a massive misconception I see regarding #Chainlink. Unpopular opinion (amongst non-marines) The #LINK token is AT LEAST as much 'oil' as #Ether is. The "customers" of $LINK are not defi users. It's all defi protocols consuming any kind of data
There are people saying Chainlink isn't growing. Chainlink doesn't have a big userbase. Chainlink network usage is dead. I am looking at Aave, Synthetix and co. and thinking "what the fuck r u talking about?" The total value locked and the userbase of all of these defi protocols
ARE Chainlink customers. THIS IS Chainlink usage. It is below all of these defi protocols when it comes to the pyramid. It is *more* foundation than anything else. When total value locked for $SNX and $LEND goes up x100 within the next 2 years then this is directly growing #LINK
Governange and utility tokens are tied to protocol usage in one way or the other. Many defi protocols just started to properly incorporate/change their tokenmodel to actually pin their token price/network value to the protocol usage, thats one of the reasons they are taking off
like crazy. Chainlink is doing that too. It's not "in production" yet. The proper tie to network usage comes into play when staking is out. Until then, there is a more volatile and weak move towards the "real valuation" but it's not NOT there. Data consuming protocols in the
future will likely cut a tiny portion of the total revenue it generates towards paying for the data automatically. In the beginning, with a total revenue of just few 100k, it might seem to be 'too expensive'. But the price % relative to the total revenue will only shrink
over time. Protocols have to pay the exact same price (even less with new tech like tsigs coing live) even if the total value locked and total revenue grows by x100. It will be increasingly clear how 'cheap' Chainlink actually is relative to the value it secures
Right now, a lot of the cost is fund by Chainlink through the reference contracts. That does not mean there is no revenue. It's just bootstrapped/kickstarted just like Loopring does pay all tx fees for Loopring Pay in the beginning. The exact same thing.
Chainlink is as much oil as Ether is. DeFi protocols governance tokens are the layer above that. The 'processed' oil thats used for more specific things. Watch out for the price rise in LINK coming with us getting closer to the proper staking release.
It will be *again* aggressively rise and people be like "it pumped without news, it has to correct I will short/sell this". These large sentiment shifts are always the consequence of prevailing wrong sentiments and the upcoming tie of LINK token value to protocol usage
will take effect before it actually happens. You always have speculation on this happening in advance. The time to act is now
