BREAKING: Major Airdrop and Token Launch Statement Released– Might Warm Up Competitors
The Tier-2 race among cryptocurrency exchanges might warm up with the current airdrop and token launch statement. Here are the information. Continue Reading: BREAKING: Major Airdrop and Token Release Announcement Released– Could Warm Up Competition
BREAKING: Major Airdrop and Token Introduce Statement Released– Could Heat Up Competition The Tier-2 race among cryptocurrency exchanges may heat up with the recent airdrop and token launch statement. Ink, the Ethereum Layer 2 network powered by Kraken, has actually formally announced its long-awaited INK token launch and airdrop strategies. According to a declaration by the Ink Foundation, the relocation aims to increase competition against the Base network developed by rival US-based exchange Coinbase. Coinbase has previously stated that it has no plans to release any native tokens for the Base network. Base authorities have stated that the network will only utilize ETH as gas charges. According to the details shared in the Ink Foundation’s announcement, the INK token is designed to be focused on usage rather than speculation. In the statement shared on Ink’s official X (previously Twitter) account, it was stated that INK will be the only token model for use purposes only, with the expressions “No frills. No fake management theater. Aligned incentives from day one.” The Ink Foundation also stated that they aim for INK to compete in an essential role in decentralized finance (DeFi) applications. “For financing, trading, and beyond, INK will fuel a strong DeFi community that is driven by users and aligned with their success,” the declaration said. The total supply of INK tokens will be limited to 1 billion, and a “permanent supply cap” will be introduced for the token, which cannot be altered by any governance system. According to the Ink Foundation, the INK token will not be used in governance decisions; it will mainly be used to increase liquidity and encourage the use of applications on the network. The first use case for INK will be a dedicated liquidity pool on Aave, providing a focused source of liquidity to both developers and on-chain users. An airdrop is planned for those who participate in this liquidity pool on Aave. The Foundation hinted that multiple INK airdrops may be made in the future, but did not share specific details. The token launch will be conducted by the foundation subsidiary in order to minimize legal liability. The Ink network is being developed as part of Optimism’s “Superchain” environment. Working alongside L2 networks from projects like Base, Sony, Uniswap, and World, it offers a technological framework that facilitates the sharing of security, communication, and governance across Ethereum Layer 2s. * This is not investment advice.
Ink, the Ethereum Layer 2 network powered by Kraken, has officially announced its long-awaited INK token launch and airdrop strategies. According to the information shared in the Ink Foundation’s announcement, the INK token is designed to be focused on use rather than speculation. According to the Ink Structure, the INK token will not be utilized in governance decisions; it will generally be used to increase liquidity and encourage the use of applications on the network.
