Key Takeaways:
- Ink blockchain activity has surged, with daily transactions surpassing 500,000 and active contracts doubling ahead of its INK token launch and community airdrop via Aave.
- INK token will focus on liquidity incentives, not governance, as Kraken’s Layer 2 network competes with Coinbase’s Base within Optimism’s growing Superchain ecosystem.
The Ink blockchain, a Layer 2 network built by Kraken on Optimism’s Superchain, is experiencing a notable uptick in user activity ahead of its highly anticipated INK token launch.
Transaction Surge as INK Token and Airdrop Announced
Last week, the Ink Foundation formally unveiled plans for the INK token, which will have a fixed supply of 1 billion tokens. To engage early adopters, the foundation also announced a community airdrop through a liquidity pool on Aave.
The announcement coincided with a sharp rise in network activity. According to data from Dune Analytics, daily transactions on the Ink blockchain have now exceeded 500,000, while the number of active contracts nearly doubled since May, reaching a peak of 6,000 on June 18.
Despite this strong momentum, total value locked (TVL) on the Ink network remains modest at just under $8 million, leaving significant headroom for future capital inflows.
EVM Compatibility and Superchain Interoperability
Launched in December 2024—ahead of its original Q1 2025 schedule—Ink is fully Ethereum Virtual Machine (EVM)-compatible, enabling developers to migrate existing Ethereum-based applications to the network. Ink offers lower transaction fees and faster processing, making it an appealing option for builders.
Importantly, Ink is a key part of Optimism’s Superchain ecosystem, joining the ranks of Base (by Coinbase), as well as Layer 2 solutions from Sony, Uniswap, World, and others. This interoperability enables cross-network asset movement, allowing users and developers to benefit from the broader Superchain infrastructure.
Also Read: Pi Network Rolls Out Major Updates as Kraken Lists Pi Coin Futures with 20x Leverage
INK Token: Focus on Liquidity, Not Governance
In a move that differentiates it from many other token projects, the INK token will not participate in governance decisions for the Layer 2 network, according to the Ink Foundation. Instead, its main utility will be focused on liquidity aggregation and providing incentives to increase application usage across the blockchain.
This token strategy could position Ink to challenge other leading Layer 2 networks—especially Base, launched by Kraken’s rival Coinbase—in the competition to attract developers, liquidity, and users in the expanding L2 ecosystem.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
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