The Ink Foundation, an entity associated with cryptocurrency exchange Kraken, has officially launched the INK token. This new asset is designed to serve as the governance token for Kraken’s expanding decentralized finance (DeFi) ecosystem.
The INK token features a capped total supply of one billion tokens. This fixed supply mechanism aims to prevent inflationary pressures and promote long-term tokenomics stability from the outset.
Core to the token’s initial utility, INK will power a dedicated liquidity protocol built upon the established AAVE platform. This integration will enable borrowing and lending functionalities specifically tailored for users within the Ink ecosystem.
Eligibility for the first INK token airdrop is intentionally tied to active participation within this new liquidity protocol. The foundation emphasizes that users must demonstrate real engagement in protocol activities to qualify, promoting fair distribution and encouraging sustainable usage.
Beyond facilitating token distribution, the strategic integration with AAVE’s robust infrastructure is a key objective. The project leverages AAVE’s existing DeFi capabilities to enhance protocol features and aims to attract a broader base of both developers and users seeking accessible DeFi solutions.
Leveraging Kraken’s significant reputation and market presence, coupled with the solid foundation provided by AAVE, positions the INK token as a potential contender in the increasingly competitive Layer 2 DeFi sector.