Why the INK Token Airdrop Might Just Be the Next Big Mistake! 🤔💸

What to know:

So, the Ink Foundation is rolling out its shiny new INK token. Great, right? Just what we needed—another token to enhance onchain capital markets with a liquidity-first strategy. Because that’s worked out so well in the past! 🙄
INK is making its grand debut on Aave, a DeFi lending and trading protocol. Tokens will be airdropped to early users. I mean, who doesn’t love free stuff? But let’s be real, it’s probably just a way to get you hooked. 😏
They’ve set a hard cap of 1 billion tokens. No governance changes allowed. So, it’s like a one-way ticket to the moon, or maybe just a trip to the grocery store. Who knows? 🚀

The Ink Foundation, the nonprofit behind layer 2 Ink, is launching its native token INK. They say it’s to bootstrap onchain capital markets. Sounds fancy, right? But let’s not kid ourselves; it’s just another attempt to make a splash in a kiddie pool. 💦

Distribution starts with an airdrop to early users. Because nothing says “trust us” like giving away free tokens. What could possibly go wrong? 🤷‍♂️

They promise no governance gimmicks or fluctuating emissions schedules. INK has a hard cap of 1 billion tokens, and they’re not changing that. So, it’s set in stone—like your Aunt Edna’s fruitcake recipe. 🍰

And here’s the kicker: unlike other Superchain members, Ink claims its layer 2 governance will stay separate from the token. It’s like saying, “Hey, we’re different!” while wearing the same shirt as everyone else. 🙈

The first utility? A liquidity protocol native to the Ink chain. Sounds impressive, but let’s be honest, it’s just a fancy way of saying they’re trying to get people to lend and deploy capital. Good luck with that! 😅

Participants in the protocol will be eligible for INK airdrops. More specifics to come, but let’s face it, they probably don’t even know what they’re doing yet. Distribution will be handled by a subsidiary of the foundation, which claims to have methods to curb airdrop farming. Yeah, right! 🙄

But here’s the reality check: INK is entering a crowded market. Most new tokens, even the ones with venture backing, tend to trend downward after launch. It’s like watching a slow-motion train wreck. 🚂💥

Projects like Linea, Blast, and Celestia launched their L2 tokens with a bang, only to face sustained sell pressure. Critics are now calling token launches delayed exit liquidity events. Ouch! That’s gotta hurt! 😬

INK is debuting in a cycle where most tokens are in decline, retail attention is light, and capital rotation is as selective as a picky eater at a buffet. 🍽️

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. So, real usage? Yeah, it’s about as thin as my patience for this nonsense. 🙄

Still, by anchoring its token to a functioning product on day one—via Aave governance and integration—Ink is at least trying to buck the trend of poor launches. But let’s be real, it’s like trying to swim upstream in a river of molasses. Good luck with that! 🏊‍♂️

2025-06-18 10:10

What to know:

Read More