Chainlink Launches Rewards Program, Space and Time Allocates 4% SXT Supply

Chainlink has introduced a new rewards program called Chainlink Rewards, designed to enhance engagement within its ecosystem and provide benefits to those who stake its native LINK token. This program will distribute tokens from projects participating in Chainlink’s Build program to ecosystem participants and LINK token stakers.

The first collaboration under this program is with Space and Time, a decentralized infrastructure company that has been part of the Chainlink Build program since September 2022. Space and Time will allocate 4% of its SXT token supply, totaling 200 million tokens, to eligible LINK stakers. Half of these tokens, 100 million, will be available for claim starting May 8, 2025, during the program's “Season Genesis” phase.

To qualify for the initial distribution, users must have been staking LINK tokens before a March 31 snapshot date. This ensures that rewards are distributed to both long-term supporters and smaller stakers who have shown commitment to the Chainlink ecosystem. The claim period for this first batch of tokens will remain open for 90 days, with any unclaimed tokens and the reserved second batch potentially distributed in future reward seasons.

Chainlink Rewards is an expansion of the network’s Build program, which was established to accelerate growth for projects within the Chainlink ecosystem. The Build program offers various forms of support, including marketing assistance, priority access to services, and technical guidance. In exchange, participating projects commit a percentage of their token supply to be distributed to the Chainlink ecosystem, particularly to those who stake LINK tokens.

Space and Time has developed its infrastructure using Chainlink’s technology since joining the Build program in 2022. The company offers a decentralized database solution that utilizes zero-knowledge proofs to deliver data analytics to smart contracts. In 2024, Space and Time integrated Chainlink Functions to support the delivery of ZK-proven queries directly on-chain, further deepening the technical relationship between the two projects.

Chainlink describes the Season Genesis launch as an experimental pilot that will inform how the rewards program evolves. Future iterations are expected to feature a more advanced claiming mechanism incorporating tokens from multiple Chainlink Build projects. The current price of Chainlink’s LINK token is $13.66, showing a 2.8% decrease over the past 24 hours. However, the token has gained 8% in value over the past month, indicating positive medium-term momentum despite short-term volatility.

Despite these recent gains, LINK remains 74% below its all-time high of $52.70, which was reached in May 2021 during the previous crypto bull market cycle. The launch of Chainlink Rewards comes during a busy period for crypto airdrops, with other projects like Floki announcing the RICE token airdrop for FLOKI holders, and ZORA launching with a successful airdrop on the Base Network.