Kraken Unveils Ink: New Ethereum Layer-2 Network Launch

Kraken, the prominent cryptocurrency exchange, has announced its plans to launch a new Ethereum layer-2 network named Ink, which is set to go live on the mainnet in early 2025. This move positions Kraken alongside other major players in the industry, such as Binance with BNB Chain, Coinbase with Base, and OKX with the X Layer.

Ink and the Optimism Superchain

Ink will utilize Optimism’s OP Stack and will be integrated into the Optimism Superchain, a growing network of interconnected blockchains. The OP Stack is currently the most utilized rollup stack, with approximately 43 active chains, as reported by L2Beat. Other upcoming layer-2 solutions include Sony's Soneium and Uniswap's Unichain.

Revenue Sharing with Optimism

As part of its integration into the Optimism Superchain, Kraken will share a portion of its sequencer revenues with Optimism. For example, Coinbase's Base layer-2 shares between 2.5% and 15% of its sequencer revenue with the Optimism treasury. Since its launch in October 2023, Optimism has generated around 2566 ETH in sequencer revenues from Base.

Focus on Developer Ecosystem

Andrew Koller, founder of Ink, emphasized the importance of value creation for users, which is dependent on a robust ecosystem of developers. The Ink blockchain is designed to be DeFi-centric, featuring one-second block times at launch, with plans for future enhancements to achieve sub-second block times.

Upcoming Testnet Launch

The testnet for Ink is scheduled to launch in 17 days, featuring various activities such as AMAs, live demonstrations, and contests aimed at engaging developers.

Kraken's Background

Founded in 2011 by Jesse Powell, Kraken is one of the oldest cryptocurrency exchanges, boasting around 10 million users across more than 180 countries. According to Coinmarketcap, Kraken is currently ranked as the sixth largest crypto exchange.