The Kraken exchange has launched a Layer-2 blockchain called Ink on the Ethereum mainnet. Originally scheduled for early 2025, this launch has occurred ahead of time. Developed using Optimism’s OP Stack, Ink aims to provide enhanced scalability and interoperability within the Ethereum ecosystem.
Ink Blockchain
According to Kraken’s blog post, the Ink Layer-2 network was launched on Wednesday, advancing the blockchain introduction by several months. The network is built on Optimism’s OP Stack, designed as a modular framework to enhance Ethereum’s scalability and interoperability.
Kraken received a grant from the Optimism Foundation, which included approximately 58 million OP tokens. These tokens support the adoption and growth of Ink, enabling the platform to contribute to Optimism’s extensive “Superchain” ecosystem.
Key Partnerships and Features
The Ink Layer-2 launched with support from various decentralized applications, including the Curve decentralized exchange, the Frax stablecoin platform, LayerZero for interoperability, and Gelato for infrastructure support. These collaborations highlight the ecosystem’s focus on facilitating diverse use cases within decentralized finance (DeFi).
“Today is just the beginning for Ink, and we are starting our boldest endeavors to scale Ink. We are pushing the boundaries of on-chain experiences to open new applications and opportunities for developers and users, enhancing privacy, security, and user experience on a foundation of deep liquidity,” – Andrew Koller, Founder of Ink
By January 2025, Kraken plans to offer permissionless proof-of-error on its Ink Layer-2. This feature will allow anyone to contest potentially invalid transactions, increasing the platform’s accountability.
Kraken’s Ink Layer-2 is among the latest products built on OP Stack for Ethereum scaling solutions. Projects joining networks like Coinbase‘s Base and Sony’s Soneium reflect the trend of major players expanding the Ethereum ecosystem.
Meanwhile, in an ongoing lawsuit between Kraken and the SEC, the court denied the exchange’s request for documents related to SEC policies on Bitcoin Ether, and digital assets. The judge ruled that the requests were irrelevant to the SEC’s claims concerning specific crypto tokens.
The launch of Kraken’s Ink Layer-2 on the Ethereum mainnet highlights the direction we are heading in a multichain world. The intensifying competitive landscape may overshadow less popular layer-2 and layer-3 solutions.
