Kraken's INK .... just a liquidity mining token? At just 7M in TVL after 7 months since launch INK is struggling to get adoption. Contrast that with Base with 3.75B in TVL despite no token in sight. It shows the power of Coinbase to push adoption: from stablecoins to cbBTC. Even after the INK announcement & airdrop news, the TVL hasn't gone up. I suppose a retroactive airdrop isn't in the plans? Otherwise insiders would've aped millions into Ink. So, my initial impression is that INK is just a tool for liquidity mining. At least, at first. Aave will be a first 'liquidity protocol' - I'm expecting good old DeFi yield farming opportunities like from 2020 when Avalanche, Polygon etc. were giving rewards for depositors on Aave. ----- Interestingly, @krakenfx posted that isn't a vibe and prayer token but launching with utility. "Designed for usage, not speculation." And "Importantly, INK does not govern the Ink L2 [...] INK is for the user and application layer." What's the utility? Anyone knows? INK must have some value accrual model, perhaps rev share from sequencer fees? In any case, at 7M in TVL, Ink could offer great opportunities. And I am really happy for a new token! Token > IPO on Tradfi Although Kraken will have both...