Kraken-incubated Ethereum Layer 2 plans to launch and airdrop new INK token, foundation says

The Ink Foundation, the nonprofit supporters of the eponymous Ethereum Layer 2, has formally announced plans to launch and airdrop an INK token. The long-expected move could help the Kraken-incubated Ink challenge Base, the L2 launched by rival U.S.-based exchange Coinbase. Coinbase has consistently stated that it has no plans to launch a token for its Base network. Base officials have said the L2 will continue to use ETH as a gas token. While details from the Ink Foundation's announcement are sparse, it appears the organization sees the INK token in limited terms. “no fluff. no governance theater. just aligned incentives from day one,” Ink’s official X account posted, describing INK as a “single-token model designed for usage, not speculation.”“From lending to trading and beyond, the Ink Foundation envisions a future where INK powers a robust DeFi ecosystem governed by its users and aligned with their success,” the foundation wrote in an announcement. According to a press release, there will be a maximum of 1 billion tokens, with a “permanent cap” that is “not subject to change via governance.” The token “will not play a role" in any of the governance decisions for the Ink Layer-2, the foundation said. Instead, it will primarily be used for liquidity aggregation and to incentivize the use of the network’s applications.Aave liquidity poolINK's first use case will be "built around" an Aave liquidity pool. The Ink Foundation expects for this pool to help onchain users and developers through a concentrated source of liquidity, which “will provide a new critical building block in Ink’s DeFi stack, governed and incentivized through the INK token.”Participants in the INK liquidity pool on Aave will be eligible for an upcoming airdrop. The foundation hinted there could be multiple INK drops, though it is sparse on details, beyond the suggestion that a token launch will be managed by a foundation subsidiary so as to limit liability.The Block has reached out to Kraken and the Ink Foundation for additional information about INK's tokenomics. The SuperchainThe Ink network is part of Optimism’s “Superchain” ecosystem, along with Base and the L2s being developed by Sony, Uniswap, and World, among others. The Superchain is a unified, interoperable network built using the OP toolkit, which allows Ethereum L2s to share security, communication, governance, and technological innovations. Kraken’s Ink, for instance, was the first Superchain network besides the Optimism Mainnet to unveil permissionless fault proofs.Since its launch, Base has quickly become one of the most active Layer 2s, with over 10 million daily transactions, approximately four times more than the next most active chain, Arbitrum, according to The Block’s data. Base also has the highest number of active addresses and draws the most fees. Kraken has said it is considering going public as soon as the first quarter of 2026. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.