Chainlink launches payment abstraction system on Ethereum mainnet, converting SVR fees into LINK through Uniswap

According to The Defiant, Chainlink has launched its payment abstraction system on the Ethereum mainnet, allowing users to pay for Chainlink services using various assets such as GAS tokens and stablecoins, which will be automatically converted to LINK through Uniswap. The system aims to reduce payment friction and enhance user experience within the Chainlink network. The initial application of the payment abstraction system is combined with Chainlink Smart Value Capture (SVR), where the network fees generated by SVR (including the use of Aave) will be converted into LINK. As the first user of Chainlink SVR, Aave will enjoy a six-month discount and receive a 65/35 distribution of the cleared maximum extractable value (MEV), of which 65% will belong to the Aave community and 35% to the Chainlink ecosystem. The Chainlink SVR fees were initially used to pay for oracle rewards from existing node operators. The plan is that once Chainlink staking ensures the security of the node set that powers SVR services, these fees will be transferred to the LINK stakers. This move is part of Chainlink's strategy to enhance the economic sustainability of its network and establish LINK as a universal GAS token.