Chainlink launches 'Payment Abstraction' on mainnet

Chainlink (LINK) announced on its official blog that it has launched "Payment Abstraction" on the mainnet. This new cross-chain payment system is designed to make payments within the Chainlink Network more seamless. It allows users to pay for Chainlink services using various assets, including gas tokens and stablecoins. The initial focus will be on converting fees from Chainlink Smart Value Recapture (SVR), an oracle solution that helps decentralized finance (DeFi) applications recapture non-toxic Maximal Extractable Value (MEV) from Chainlink Data Feeds.