Kraken to Launch Ink Blockchain on Optimism's Superchain in 2025

Oct 24, 2024, 01:38 PM

Cryptocurrency exchange Kraken plans to launch its own blockchain, called Ink, with a testnet planned for the end of this year and full launch in early 2025. The Layer 2 network will be built on the Ethereum blockchain using Optimism's OP Stack technology and will be part of the Superchain. Ink will host decentralized applications for trading, borrowing, and lending of tokens without intermediaries, aiming to provide a seamless on-chain DeFi experience. The blockchain will feature sub-second block times, interoperability, and will contribute revenue to the Optimism Collective. Kraken does not plan to launch its own token but will provide access to Ink's applications through the Kraken Wallet app. Developer events are scheduled for Devcon 2024. By launching Ink, Kraken joins other firms like Coinbase and Uniswap in utilizing Optimism's OP Stack to scale Ethereum.