BREAKING: A Major Airdrop and Token Launch Announcement Has Been Made! It Could Heat Up the Competition

Ethereum Layer 2 network Ink powered by Kraken** has officially announced its long-awaited INK token launch and airdrop plans. According to the statement made by the Ink Foundation, this step aims to increase competition against the Base network, which is developed by US-based rival exchange Coinbase.

Coinbase has repeatedly stated that there are no plans to issue any local tokens for the Base network. Base officials have expressed that the network will only use ETH as gas fees.

According to the information shared in the announcement of Ink Foundation, the INK token is designed to be usage-focused rather than speculation-oriented. In the statement shared on Ink's official X ( formerly known as Twitter) account, it was stated that "No frills. No fake management theater. Aligned incentives from day one," emphasizing that INK will be a single token model solely for usage purposes.

The Ink Foundation also stated that they aim for INK to play a fundamental role in decentralized finance (DeFi) applications. "For lending, trading and beyond, INK will support a robust DeFi ecosystem managed by users and aligned with their success," it was announced.

A "permanent supply limit" will be imposed for the INK token, which will have a total supply limited to 1 billion, and this limit cannot be altered by any governance mechanism. According to the Ink Foundation, the INK token will not be used in governance decisions; it will primarily be evaluated to increase liquidity and promote the use of applications on the network.

INK's first use case will be a custom liquidity pool built on Aave. Through this pool, a concentrated source of liquidity will be available to both developers and on-chain users.

An airdrop is planned for those participating in this liquidity pool on Aave. The Foundation hinted that multiple INK airdrops could take place in the future, but did not share specific details on this matter. The token launch will be conducted by a subsidiary of the foundation to reduce legal liabilities.

The Ink network is being developed as part of Optimism's "Superchain" ecosystem. This structure, which works alongside L2 networks of projects like Base, Sony, Uniswap, and World, offers a technological framework that facilitates the sharing of security, communication, and governance among Ethereum Layer 2s.

*It is not investment advice.

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