CMC News

$INK Token Launch Planned for #Kraken's #Ethereum Layer-2 Network

The Ink Foundation is set to debut a native $INK token for Kraken's Ethereum layer-2 blockchain in an upcoming launch.

Ink Network launched in October as part of the Optimism Superchain, using the OP Stack infrastructure.

The token features a fixed 1 billion supply designed to support the #DeFi ecosystem on the layer-2 network.

INK will not function as a governance token, maintaining adherence to Optimism Collective revenue sharing and governance structures.

The first use case centers on a liquidity protocol powered by established DeFi platform #Aave.

Early users of the Aave-powered #liquidity protocol will receive $INK tokens through the Foundation's initial airdrop mechanism.

The Ink Foundation operates as an independent entity from Kraken exchange to steward network development.

Further tokenomics details and launch timeframes remain undisclosed by the Foundation's Board of Directors.