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KRAKEN’S INK LAYER-2 GOES LIVE


THE TEAM HAD ORIGINALLY PLANNED FOR INK TO GO LIVE IN EARLY 2025, SO THE LAUNCH
OF THE MAIN NETWORK IS AHEAD OF SCHEDULE.

By Margaux Nijkerk|Edited by Sheldon Reback
Dec 18, 2024, 5:41 p.m. UTC
Kraken's layer-2 Ink goes live on mainnet (CoinDesk)

WHAT TO KNOW:

 * Kraken launched its layer-2 network, called Ink, on Wednesday.
 * The blockchain, which is built with Optimism’s OP Stack, was planned to go
   live in early 2025, so the release is ahead of schedule.
 * Kraken agreed to receive 25 million OP tokens in grants from the Optimism
   Foundation.



Kraken, the seventh-largest crypto exchange, said its layer-2 rollup network,
built on top of the Ethereum blockchain, has gone live.

The network, called Ink, is based on the OP stack, a customizable framework that
lets developers build their own rollups using Optimism’s technology. The team
had originally planned for Ink to go live in early 2025, so the launch of its
main network is ahead of schedule.

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Kraken agreed to receive 25 million OP tokens (worth about $58 million) as part
of a deal to build on the OP Stack. Optimism has acknowledged that handing out
developer grants for participants building on the stack is part of its strategy,
which in turn contributes back to the wider “Superchain” ecosystem.

Kraken competitor Coinbase said in August 2023 that it would build a layer-2
network with OP Stack. The product, called Base, is now the second-largest
rollup network according to L2beat. At the time, Optimism said the Base team
would receive up to 118 million OP tokens and, in return, would contribute the
higher of 2.5% of its sequencer revenue or 15% of its profits to the Optimism
Collective.



Other participants building a layer 2 with the OP Stack — including Uniswap,
World Network, and Sony Blockchain Labs — have not said how many OP tokens they
expect to receive as part of their deals.

“Today is just the beginning for Ink, and now our boldest work really begins –
growing Ink,” said Andrew Koller, the founder of Ink, in a press release. “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.”

Read more: Kraken Picked Optimism's 'Superchain' After Getting a Pile of OP
Tokens







KrakenOptimismOptimism foundationlayer 2

MARGAUX NIJKERK

Margaux Nijkerk reports on the Ethereum protocol and L2s. A graduate of Johns
Hopkins and Emory universities, she has a masters in International Affairs &
Economics. She holds BTC and ETH above CoinDesk's disclosure threshold of
$1,000.

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