The Ink Basis, an L2 blockchain from Kraken, is about to launch INK, a brand new token venture. INK will energy the agency’s DeFi ecosystem, offering governance roles and constructing on-chain capital markets.
Builders introduced {that a} liquidity protocol might be INK’s first use case, serving as a constructing block for a fuller DeFi stack. Customers will solely be eligible for the primary airdrop in the event that they take part on this protocol.
INK Token Will Launch Quickly
Ink, an L2 blockchain that Kraken launched final December, has been rising for the previous few months.
Kraken, a serious centralized change within the US, started teasing an IPO or token launch a month in the past, however it could have been referring to this asset. Ink formally introduced a token launch at this time by way of a lighthearted social media publish:
Clearly, Ink additionally offered extra critical and helpful info for its new TGE. The agency known as INK the blockchain’s native ecosystem token, clarifying that it gained’t have a job in L2 governance.
To be clear, INK will govern the agency’s DeFi ecosystem, however the chain’s governance stays beneath the Optimism Superchain.
INK could have a tough cap of 1 billion tokens, stopping future inflation and additional divorcing it from potential governance roles.
Builders have already described their first use case, serving because the lynchpin in a brand new liquidity protocol powered by AAVE. The protocol will permit customers to borrow and lend in INK’s ecosystem, serving to create future functions:
“This can present a brand new essential constructing block in Ink’s DeFi stack, ruled and incentivized by the INK token. By supporting the liquidity protocol, the Ink Basis hopes to create a platform for customers and builders onchain to innovate with new functions and functionalities constructed on concentrated liquidity and the cornerstone DeFi performance enabled by Aave’s know-how,” builders claimed.
This liquidity protocol may also play a significant function within the INK token’s future airdrop. To stop airdrop farming, set up sybil deterrence, and usually promote truthful tokenomics, customers will solely be eligible in the event that they take part on this protocol.
This solely refers back to the first airdrop, however the agency plans to launch extra sooner or later.
In the end, the INK token announcement hasn’t made an enormous splash locally but, however its followers appear very devoted. This venture could also be value remembering, assuming it continues choosing up traction.
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