--- link.module.orig	2010-06-14 20:14:11.000000000 +0200
+++ link.module	2010-06-21 00:56:27.000000000 +0200
@@ -715,6 +715,7 @@
     $tokens['link']['url'] = t("Link URL");
     $tokens['link']['title'] = t("Link title");
     $tokens['link']['view'] = t("Formatted html link");
+    $tokens['link']['host'] = t("Link host");
 
     return $tokens;
   }
@@ -727,6 +728,8 @@
     $tokens['url'] = $item['url'];
     $tokens['title'] = $item['title'];
     $tokens['view'] = isset($item['view']) ? $item['view'] : '';
+    $host = @parse_url($item['url']);
+    $tokens['host'] = $host['host'];
 
     return $tokens;
   }