Étienne Girard
The Ink blockchain, developed by Kraken and built on Optimism’s Superchain, is gaining serious momentum as it prepares for its highly anticipated INK token launch. The network, which went live in December 2024 — earlier than its planned Q1 2025 debut — has already shown signs of rapid adoption.
Last week, the Ink Foundation announced the launch of the INK token with a fixed supply of 1 billion units. The initial distribution will include a community airdrop structured via a liquidity pool on Aave, making it available to early adopters and active participants.
A Surge in Activity Despite Modest Capital Inflows
The lead‑up to the launch has triggered a significant spike in network activity. According to data from Dune Analytics, daily transactions surged beyond 500,000, while active smart contracts nearly doubled since May, reaching 6,000 by mid‑June.
Although usage has surged, total value locked (TVL) on the network is still relatively low, hovering just under $8 million — suggesting that the network has significant room to attract more liquidity and deepen its DeFi ecosystem.
Built for Speed and Compatibility
Ink operates as a fully EVM‑compatible Layer‑2, allowing developers to seamlessly migrate their Ethereum‑based applications while benefiting from lower costs and faster transaction speeds. This positions Ink as an attractive option for projects seeking to scale their dApps beyond the constraints of the Ethereum mainnet.
As part of Optimism’s Superchain, Ink joins a growing family of Layer‑2 networks, including Coinbase’s Base and offerings from Sony, Uniswap, and World. This positions the network within one of the fastest‑growing ecosystems in the space.
INK Token Focuses on Liquidity, Not Governance
While many new tokens are launched with governance powers, the INK token will not play any role in making decisions about the Ink Layer‑2 network. According to the foundation, it will focus on incentivizing liquidity aggregation and rewarding participants who drive usage of the platform.
A New Contender in the L2 Space
With its strong ties to Kraken and growing developer interest, the Ink blockchain is well‑positioned to challenge Base — the rival Layer‑2 solution launched by Coinbase. The coming months will reveal if Ink can carve out a significant piece of this highly competitive market.
