Latest news with #InkFoundation
Yahoo
28-07-2025
- Business
- Yahoo
Aave votes to launch white-label lending protocol on Kraken's Ink blockchain
Aave, the largest DeFi lending protocol, is set to launch on Kraken's Ink blockchain. The Aave DAO proposal, created on July 17, aims to deploy a centralised version of Aave's lending market on Ink. The new protocol will be controlled by the Ink Foundation under a new name, with a portion of revenue going back to the DAO. 'By granting a license to deploy a centralized version of the Aave codebase, Aave can expand its technology adoption while creating new revenue streams through partnerships with innovative platforms,' the proposal states. Coming at a time when deposits into DeFi lending protocols are hitting record highs, Ink is looking to tap into this market and take advantage of Aave's code. Aave currently controls about half of the $65 billion lending market, according to DefiLlama. With nearly $32 billion in deposits, it is currently the secod-largest DeFi protocol. Ink blockchain Kraken, the US-based centralised exchange, launched its layer 2 blockchain Ink in December 2024. The launch was met with little enthusiasm, bringing in less than $1 million in deposits within the first month. With a fewer than two-dozen protocols, the chain has yet to become a major player in the competitive layer 2 landscape. As of Friday, protocols on Ink had just over $9 million in deposits, placing the blockchain well outside the top 100. Volumes on decentralised exchanges on Ink have also underwhelmed, falling from a peak of about $195 million in May to $67 million in June. Other centralised exchange-backed layer 2s have seen more success. Coinbase's Base has over $5.7 billion in deposits while ByBit's Mantle has over $250 million. To buck this trend and encourage new users to join the blockchain, the Ink Foundation in June announced the upcoming release of an Ink token, along with several incentives for the blockchain's users. 'The first use case for Ink tokens will be built around a liquidity protocol powered by Aave,' the Foundation said. 'To reward early usage, Ink tokens will be distributed to participants of the liquidity protocol through an airdrop.' Among the incentives are multiple 'liquidity mining' programs, according to the Aave proposal. Those programs are expected to draw $250 million to the yet-to-be-named Aave deployment on Ink. Initially, 4% of the total Ink token supply has been allocated to users of Aave's new lending platform. In addition to this, the Aave DAO will allocate a portion of Aave tokens and its stablecoin GHO as further bootstrapping incentives. The Ink Foundation agreed to exclusively work with Aave for at least 12 months after deployment, refraining from communicating or integrating with any other lending protocols. Currently, the proposal is receiving almost universal support from the Aave community, receiving about 412,000 votes in favour compared to only 1,600 against. Voting ends on July 21. Zachary Rampone is a DeFi correspondent at DL News. Have a tip? Contact him at zrampone@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
08-07-2025
- Business
- Yahoo
Vertex Protocol Team to Join Ink Foundation, Build New DeFi Primitives on Ink Layer-2
Vertex to sunset current deployments and new DEX to be launched exclusively on Ink GRAND CAYMAN, Cayman Islands, July 8, 2025 /PRNewswire/ -- Vertex Protocol, a leading decentralized exchange platform known for its high-performance trading architecture and active community, has entered an agreement with the Ink Foundation to bring its core infrastructure and team to the Ink ecosystem. The move marks a major milestone for the Ink Layer 2's growing DeFi stack. As part of the transition, Vertex will cease trading across current EVM deployments, with plans to launch a new version of the protocol purpose-built for Ink. Additionally, the VRTX token will be sunset. VRTX holders will be eligible for an airdrop of INK tokens at token launch with 1% of the INK supply allocated to Vertex community members. VRTX holders will also receive boosted participation in an upcoming INK incentives program. A snapshot for the airdrop will be taken on Tuesday, July 8. All treasury and non-vested VRTX tokens will be excluded and burned. Darius Tabai, CEO and Co-Founder of Vertex, commented on the news, "This is an incredible moment for the Vertex team and community. As a top decentralized exchange, Vertex has built a strong community. Vertex technology will accelerate the Ink Foundation's goals, provide more opportunity for traders, and represent renewed potential for tokenholders." Airdrop plans, eligibility, and distribution mechanics will be shared at a later date. Industry-best practices for sybil deterrence will be used in an effort to limit airdrop farming and maximize the fairness of the distribution. Integration of Vertex's synchronous orderbook engine, perpetuals, and money market stack into the Ink ecosystem will mark a significant step in the network's expansion beyond core infrastructure into application-layer functionality. The Ink Foundation Board of Directors said, "Vertex has built one of the most advanced decentralized trading platforms in the space. Bringing what they have built into the Ink ecosystem is a strategic leap forward as we realize the vision for open, onchain capital markets." The transaction was introduced and advised by a dedicated M&A platform for web3 and decentralized protocols. Ink Foundation was advised by Carey Olsen and Willkie Farr & Gallagher LLP. Terms of the deal will not be publicly disclosed. For more information, visit or follow the Ink Foundation's official channels at and on X @inkfndhq. About Vertex ProtocolLaunched in 2023, Vertex is a decentralized trading platform combining low-latency orderbooks with unified liquidity for spot, perpetuals, and money markets. Co-founded by Darius Tabai and Alwin Peng, the Vertex team brings deep experience from traditional finance and crypto trading. Known for its hybrid execution model and advanced matching engine, Vertex delivers CEX-grade performance in a decentralized environment. About Ink FoundationThe Ink Foundation is an independent entity that stewards the Ink Layer-2 and its ecosystem. It supports protocol development, ecosystem growth, and token governance to help realize the vision of open, onchain capital markets. For Media:press@ View original content: SOURCE Vertex
Yahoo
19-06-2025
- Business
- Yahoo
Kraken-Backed Ink Foundation to Airdrop INK Token, Starting With Aave-Powered Liquidity Protocol
The Ink Foundation, the nonprofit behind layer 2 Ink, is launching its native token INK in an attempt to bootstrap onchain capital markets through a liquidity-first strategy. The token will debut on a decentralized finance (DeFi) lending and trading protocol built on Aave, and distribution will begin via an airdrop to early users. There will be no governance gimmicks or fluctuating emissions schedules, the foundation said. INK has a hard cap of 1 billion tokens minted, with no recourse to change the supply via governance proposals. And unlike other Superchain members, Ink says its layer 2 governance will remain separate from the token. (A Superchain is a group of layer-2 networks built using the same software, allowing them to share security, upgrades, and tools. Think of it as different cities on the same highway system.) The first utility is a liquidity protocol native to the Ink chain, designed as a core DeFi primitive for lending and capital deployment. Participants in the protocol will be eligible for INK airdrops, with further specifics still to come. Distribution will be handled by a subsidiary of the foundation, which claims to have methods to curb airdrop farming. However, INK enters a crowded market where most new tokens, even those with venture backing and protocol traction, tend to trend downward after launch. Linea, Blast, Celestia, Berachain, and other high-profile projects, all launched L2 tokens in 2024–25 with major fanfare — only to face sustained sell pressure. Many critics now see token launches less as aligned economic tools and more as delayed exit liquidity events. INK will debut in a cycle where most tokens are in decline, retail attention is light, and capital rotation is highly selective. Ink's DeFi stack holds just over $7 million in total value locked, with only $93 in L2 revenue reported over the past 24 hours, according to DefiLlama data, indicating that real usage remains relatively thin. Still, by anchoring its token to a functioning product on day one — via Aave governance and integration — Ink is at least attempting to buck the trend of poor launches.
