Is Chainlink Now Useless? Random Fork Airdropped to 4chan Users
Since the bear market began in 2018, LINK followed the others into the year, dropping from a bit above a dollar to a low around $0.20. 2019 was far more impressive, breaking its ATH around the end of May 2019, then approaching a new ATH at $3.70ish. Though the coin closed at $1.84 at the end of the year, the rally was among the best for any crypto of that year.
2020 has been equally impressive, following along with the market slowly turning out of a bear into a phase of disbelief (I don’t think we are in a bull market yet). LINK has again broken its ATH and is currently around $4 a coin.
From a low of $0.20 in 2018 to nearly $4 a coin in 2020, investors who placed bets on this have made off big.
What does LINK do? An ERC20 token still, LINK claims to solve the ‘oracle problem’. I’ll leave it up to you to do your own research on it, but personally I think it is a made-up solution to a made-up problem, as are most crypto currencies. Can you make money on it as a speculative and highly volatile asset? Absolutely. Plenty of people have. But I’m not convinced it’s actually solving a real problem. The contract, after all, is open source.
And that’s where the latest humor comes in.
LINK was recently copied entirely and the new contract, calling itself NULINK, was airdropped to users on a 4chan post. /biz/ the shitstain derelict home to many LINK holders, also known as stinky linkies, jumped on the opportunity for an airdrop.
Here is the contract for NLINK
The total token supply of NLINK was 900,000,000,000. But, the owner burned 99% of it. 899,179,427,767 tokens exist in a burn address
The largest token holder has 350,000,000 NLINK.
The average person receiving the amount from the airdrop was 2,000,000.
The ‘project’, if it can be called that, is copy and paste of LINK. So the humor here is that, if Chainlink actually did ‘solve the oracle problem’, then so does NLINK. And if NLINK is just as real as LINK, albeit a copy of it, and LINK is valuable, so then is NLINK, just for far cheaper.
If LINK solves the ‘oracle problem’, and so too does NLINK, then doesn’t this render Chainlink redundant?
I don’t think LINK is going to belly-up overnight. But the whole thing is hilarious to watch from the sidelines.
NLINK is traded on Uniswap. It is probably completely worthless. I would not recommend anyone seriously buying any. But if you do, do it for shits and giggles.
