Kraken Launches Layer-2 Blockchain Ink on Mainnet Months Early
Cryptocurrency exchange Kraken has launched its independent blockchain, Ink, aimed at the decentralized finance (DeFi) ecosystem. The layer-2 network debuted on mainnet ahead of schedule.
Kraken's Ink Goes Live on Mainnet
Kraken accelerated its launch due to strong developer demand and community support. During the testnet phase, Ink processed over 8.17 million transactions with more than 1.22 million addresses engaged and approximately 90,600 tokens deployed.
Why launch now?
The demand from builders and support from our community pushed us to move faster. After millions of testnet transactions and thousands of connected wallets, it’s clear: the world is ready for a DeFi renaissance, and Ink is here to lead the charge.
— ink (@inkonchain) December 18, 2024
Ink is available for both retail and institutional users via Kraken's Web3 wallet, allowing seamless access to applications on the protocol while remaining within the centralized exchange environment.
Just the Beginning
In January 2025, Ink will enter its first decentralized roadmap phase by introducing "permissionless fault proofs," enhancing system transparency and accountability. Andrew Koller, founder of Ink, emphasized the commitment to expanding on-chain technology possibilities.
“Today is just the beginning for Ink, and now our boldest work really begins – growing Ink. We’re pushing the boundaries of on-chain experiences to unlock new applications and opportunities for builders and users alike, layering privacy, security and UX enhancements on a foundation of deep liquidity,” he said in a press release.
Kraken Receives $58 Million Grant for Building on Optimism
Ink, based on Ethereum, utilizes the OP Stack, enabling developers to create rollups using Optimism's technology. Kraken received 25 million OP tokens, valued at approximately $58 million, as a grant for building on the Optimism ecosystem, highlighting strategic collaborations that enhance the "Superchain" ecosystem.
Optimism has also granted similar support to other networks, including Coinbase’s Base, which will receive 118 million OP tokens over six years in exchange for contributing a portion of its revenue or net profit to the Optimism Collective.
Other OP Stack adopters, such as Uniswap and Sony Blockchain Labs, have not yet disclosed their grant details.