Kraken-backed layer 2 Ink to launch $INK token

Uncover key highlights within the Altcoins area. This article dives into: “Kraken-backed layer 2 Ink to launch $INK token”.

Key Takeaways

• The INK token will help onchain capital markets and DeFi ecosystem improvement on the Optimism Superchain.
• A set provide of 1 billion INK tokens will likely be minted, and distribution will embody airdrops to early customers.

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The Ink Foundation, an unbiased entity that manages Ink, the layer 2 blockchain initially launched by Kraken, introduced Tuesday its plans to debut the $INK token to help on-chain capital markets and DeFi ecosystem improvement.

The token will likely be built-in with a brand new liquidity protocol powered by Aave expertise.

most tokens launch with a vibe and a prayer.$ink is launching with utility.

a single-token mannequin designed for utilization, not hypothesis.

no fluff. no governance theater. simply aligned incentives from day one.

— ink (@inkonchain) (*2*)

The $INK token will launch with a capped provide of 1 billion, completely mounted and never topic to governance adjustments. The actual date for minting has but to be confirmed.

$INK may even play no function in governing the Ink layer 2 community, which stays below the Optimism Superchain construction.

The basis plans to distribute INK tokens by an airdrop to early customers of the liquidity protocol, implementing measures to forestall airdrop farming. Token distribution is predicted to be dealt with by a subsidiary of the Ink Foundation.

“From lending to trading and beyond, the Ink Foundation envisions a future where INK powers a robust DeFi ecosystem governed by its users and aligned with their success,” the muse acknowledged.

Kraken rolled out Ink in December final 12 months, focusing on to facilitate DeFi buying and selling and lending. The layer 2 community adopts OP Stack expertise and is built-in into the Kraken Wallet app to improve user-friendliness and accessibility.

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