Kraken Launches Layer 2 Blockchain: Ink

Kraken has officially launched its Layer 2 blockchain on mainnet, named Ink, months ahead of its initial schedule which targeted early 2025.

Ink utilizes Optimism’s Superchain technology stack, providing a customizable framework for blockchain scaling. This allows Ink to be interoperable with other networks developed using the OP Stack.

Launch partners include well-known applications such as decentralized exchange Curve, stablecoin platform Frax, L2 infrastructure provider Gelato, and interoperability protocol LayerZero.

According to Kraken, "Ink is also progressing toward Stage 1 decentralization with permissionless fault proofs to enhance accountability in January 2025." This feature will enable users to contest potentially invalid transactions, increasing accountability within the Ink community.

With this development, Kraken joins other companies releasing their own L2 solutions, following competitors like Coinbase and Uniswap. Coinbase’s Base, for example, has been a significant revenue generator since its launch this year.

Ink joins a growing list of blockchains built on Optimism, including Base, Sony’s Soneium, and World’s World Chain. Notably, the exchange received a 25 million OP token grant from the Optimism Foundation to utilize the OP Stack.

In October, Kraken announced a restructuring that included layoffs, management streamlining, and the hiring of co-CEO Arjun Sethi.

Kraken stated, "Ink echoes our unmatched commitment to making crypto accessible to everyone, aiming to eliminate the points of friction that have historically made moving between centralized and decentralized worlds challenging."