Chainlink Payment Abstraction Is Now Live: SVR Fee Conversion and User Fee Staking Rewards

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https://blog.chain.link/payment-abstraction-svr-fee-conversion/

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Chainlink launches Payment Abstraction

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On a periodic basis, the pool of fee tokens consolidated on the payment chain are converted to LINK using Chainlink Automation and an onchain DEX. The initial DEX used by Payment Abstraction is Uniswap V3, given its liquidity profile for supported tokens and the fact that it can be permissionlessly integrated by other smart contracts while minimizing centralized points of control. In the future, additional DEX services could be integrated to enhance MEV protection and support features such as smart order routing.

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We’re excited to announce that Chainlink Payment Abstraction—a novel cross-chain-enabled payment system that significantly reduces payment friction within the Chainlink Network—is officially live on mainnet. Payment Abstraction enables users to pay for Chainlink Services in alternative assets (e.g., gas tokens and stablecoins), which are then automatically converted into LINK using a combination of Chainlink Automation, Price Feeds, CCIP, and a decentralized exchange (DEX).

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