Chainlink Payment Abstraction—a cross-chain payment system that converts user fees into LINK—is officially live on mainnet 🔥 As the first use case, Payment Abstraction has been integrated with Chainlink SVR to convert the Chainlink Network portion of fee revenue into LINK @aave, the largest DeFi protocol by TVL, integrated SVR last Friday to recapture liquidation MEV, featuring a revenue split of 65% to the Aave ecosytem and 35% to the Chainlink ecosystem Historically, tens of millions of dollars in liquidation MEV has been leaked to blockchain validators. SVR fixes this Network revenue generated from SVR feeds not yet secured by Staking will be initially be paid to node operators by helping cover their existing oracle reward payments for Data Feeds (replacing subsidy with fees) SVR feed revenue will transition to being paid to LINK stakers once Staking secures the node set powering an SVR feed (e.g., Staking secures the standard ETH/USD feed, so it also secures ETH/USD SVR feed) When revenue from Staking-secured SVR feeds are made available to LINK stakers, 50% will be used to support the existing Staking reward rate (replacing subsidy with fees) The other 50% will serve as an additional fee reward for LINK Stakers split 50/50 between the node operator and community staking pools More info on when/how SVR fees will be made available to LINK Stakers will be provided in the future Payment Abstraction infra will also be used to consolidate existing node operator oracle reward payments from 40+ chains to a single blockchain, starting with CCIP (important as Chainlink scales to more chains) The announcement also notes that the first phase of the Chainlink Build claims mechanism is code-complete and expected to launch this year (making Build tokens claimable by LINK Stakers) 👀 🔗👇 Full announcement below