Instagram is replacing the swipe-up link feature in favor of link stickers, starting Aug. 30.
Link stickers are tappable stickers in stories that take people to external websites. Instagram says they are doing this to give people more "creative control" since users can format the look of stickers and not the swipe up. For now, only people who had swipe up privileges will receive the sticker option, but Instagram are "still evaluating" rolling it out to more users (users have to be verified or have at least 10K followers to get swipe up). Link