tl;dr
Nemo Nemo Ink Foundation announced the minting of 1 billion INK tokens to support user-run liquidity on Ink, an Ethereum layer-2 network backed by Kraken. The supply cap is fixed, with mint date and contract details to be released post-audit. INK holders will not have governance rights over the roll...
Kraken’s Ink Foundation announced the minting of 1 billion INK tokens to fund user-run liquidity on Ink, an Ethereum layer-2 network backed by Kraken. The token supply is permanently capped, with the mint date and contract details set to be disclosed after completing audits. Importantly, INK holders will not have governance rights over the rollup itself, which remains under the control of the Optimism Superchain framework. Instead, INK tokens will be used to influence incentives and resource allocation for protocols operating on the rollup.
The distribution of INK tokens will occur via an airdrop linked to a liquidity protocol powered by Aave, incorporating Sybil-deterrence measures to prevent farming abuses. This Aave-based platform will provide lending and trading services and serve as the foundational building block of Ink's decentralized finance (DeFi) ecosystem. The foundation’s goal with minting INK is to foster alignment among users, developers, and protocols, propelling the next phase of Ink’s development.
Ink launched in October 2024 as an Optimism-based network designed to empower users to trade, borrow, and lend without intermediaries. The project’s founder, Andrew Koller, highlighted plans to accelerate on-chain migration through this interoperable layer-2 solution, aiming for a developer testnet launch shortly after and a full rollout for both retail and institutional investors during early 2025. Supporting Ink’s integration into the Optimism Superchain ecosystem, the Optimism Foundation granted Kraken 25 million OP tokens, allocating 5 million for OP Stack engineering and 20 million tied to transaction volume milestones to sustain fee flows back to the Optimism Collective.
This strategic initiative positions Ink not just as a decentralized financial platform but also as a critical component enhancing scalability, interoperability, and incentive dynamics within the broader Ethereum layer-2 landscape.