Kraken-Backed Ink Foundation to Launch Native INK Token, Fueling Ecosystem Growth

London, UK** – The Ink Foundation, the entity behind the Kraken-backed Ethereum Layer 2 blockchain, Ink, has announced plans to launch its native INK token. This development marks a significant strategic move aimed at bolstering the network's liquidity and incentivizing participation within its burgeoning decentralized finance (DeFi) ecosystem. The announcement comes as the Ink chain, built on Optimism's OP Stack, continues to expand its reach, bridging centralized finance (CeFi) and DeFi.

The INK token, set to have a fixed supply of 1 billion units, is designed to serve primarily as a utility asset to deepen liquidity and reward application usage, rather than for direct governance of the chain. This approach aims to foster a robust DeFi environment on Ink. An airdrop program is anticipated, with eligibility tied to early engagement with Ink's liquidity protocols, including those powered by Aave.

The Ink chain, launched in December 2024, is an Ethereum Layer 2 solution developed by Kraken, one of the world's leading cryptocurrency exchanges. It leverages rollup technology to provide faster and more cost-effective transactions, enhancing accessibility to DeFi applications for Kraken's extensive user base. Andrew Koller, founder of Ink, previously emphasized the chain's role in making DeFi more accessible, stating, "Ink is designed to be a bridge between the familiar world of centralized exchanges and the sometimes intimidating realm of DeFi."

A recent tweet from "Ink Hub" highlighted several projects building on the chain, including $ANITA, $CAT, $SHROOMY, $SUPR, $PURPLE, $BERT, $AK47, $Kraken, and $WATCH, inviting users to pick which one they believe will "moon." While specific details on many of these projects remain limited in public records, the upcoming INK token launch is poised to significantly impact the entire ecosystem. For instance, a snapshot for $ANITA holders was recently taken, hinting at potential future distributions.

The introduction of the INK token, despite earlier indications that the chain would not have a native token, signifies the Ink Foundation's commitment to cultivating a vibrant on-chain economy. This strategy positions Ink to compete within the crowded Layer 2 landscape, aiming to attract developers and users by offering a seamless and incentivized DeFi experience integrated with Kraken's established infrastructure.