- •Kraken's Ink launches Tydro on Ethereum L2.
- •Tydro integrates Aave v3 for INK token support.
- •Ink offers $250M in liquidity incentives.
Kraken-backed Ink has rolled out Tydro, a centralized instance of Aave v3, on its Layer-2 Ethereum platform, supported by the INK token and institutional liquidity, focusing on compliant DeFi solutions.
This rollout strengthens Kraken's position in institutional DeFi, potentially redefining industry standards and attracting significant liquidity despite modest early adoption figures.
Kraken's Ink Foundation has launched Tydro, a white-label instance of Aave v3 on Ethereum L2. This strategic move aims to support the INK token in a compliant and institutional-grade environment. According to the Aave DAO, there was 99.8% support for this deployment, highlighting the community's backing for this new initiative.
The Aave DAO approved this deployment with 99.8% support, ensuring that Tydro uses a centralized model for the INK ecosystem. Ink aims to leverage institutional partnerships in this deployment.
Immediate Effects
The immediate effects include focused engagement from institutional liquidity providers. The financial market could see movements in the INK, AAVE, and ETH tokens following this deployment. Ink has committed to a substantial $250 million liquidity mining program to incentivize participation. The Aave DAO will receive a share of revenue based on borrow volume, aligning financial incentives.
Influence on Centralized-Exchange-Backed L2 Projects
The deployment may influence other centralized-exchange-backed L2 projects with its unique DeFi model. Ink expects to drive liquidity into a compliant DeFi framework while building institutional trust. Historical trends suggest that successful L2 launches lead to liquidity surges, though measuring long-term adoption remains critical. Ink's deployment might spur shifts in the DeFi landscape, with increased demand for multi-chain protocols.
Further Updates
For more updates, readers may follow Kraken's latest cryptocurrency trading platform launch announcement. Insights and updates can also be found on Kraken's official blog. Additionally, exciting developments surrounding the launch can be traced on Inkfnd's Twitter.
The strong support from the Aave DAO for the project (with a 99.8% vote in favor) highlights the community's endorsement of this initiative. For broader perspectives on this development, readers can explore reports from The Block and DL News.