Kraken Launches Ink, an Ethereum Layer-2 Built on Optimism

Kraken, a leading cryptocurrency exchange, has announced the launch of Ink, an Ethereum-based layer-2 blockchain powered by Optimism’s OP Stack. Ink is designed to offer a suite of on-chain wealth management tools for both experienced traders and newcomers to the crypto space, according to a joint statement released by Kraken and the Optimism Collective on Thursday.

Ink will roll out on testnet in November and is set to be interoperable with Optimism’s Superchain, a network of nearly 30 layer-2 blockchains that share security and infrastructure.

Ink’s Role in the Superchain Ecosystem

The Superchain, which includes notable chains like Base, Zora, Unichain, and World Chain, records over 7 million daily transactions, representing nearly half of all Ethereum layer-2 transactions. By joining this ecosystem, Ink will be able to seamlessly communicate and share resources with other chains, preventing issues like fragmentation and ensuring a more unified experience for users and developers alike.

Andrew Koller, founder of Ink, emphasized the network’s potential to attract developers and enable the next generation of DeFi applications and protocols. “Ink is laying the groundwork for an interoperable and pluralistic on-chain ecosystem,” Koller said, highlighting the platform’s commitment to interoperability and innovation.

Features and Future of Ink

Upon its expected mainnet launch in early 2025, Ink will offer one-second block times, enabling the swift processing of time-sensitive transactions. This feature is particularly important for activities like perpetual futures trading, decentralized lending, and yield farming.

Additionally, Ink will engage in revenue sharing with the Optimism Collective and participate in the governance of the OP Stack. The network’s developers will also contribute to the core development of the OP Stack, further strengthening ties with Optimism’s ecosystem.

Kraken Following Coinbase’s Lead

Kraken’s launch of Ink follows the footsteps of Coinbase, which launched its own layer-2 network, Base, on Optimism’s OP Stack. Base has quickly become a prominent player in the Ethereum layer-2 space since its debut in early 2023. Kraken’s Ink aims to replicate and build upon this success by providing a next-generation platform for decentralized finance and wealth management tools.