Binance has the BNB chain, Coinbase has Base, OKX has the X layer, and now Kraken has Ink.
Kraken today announced plans to launch its own Ethereum Layer 2 network, Ink, which it plans to launch on its mainnet in early 2025.
Ink uses Optimism's OP stack and will be part of Optimism's family of blockchains called Superchains.
According to L2Beat, the OP stack is currently the most widely used rollup stack, containing approximately 43 live chains. Other upcoming layer 2 chains include Sony's Soneium and Uniswap's Unichain.
read more: Optimism plans to integrate Superchain with an interoperability layer
According to a press release shared with Blockworks, Kraken has opted in to the Optimism superchain and will therefore share a portion of the sequencer's revenue with Optimism.
For example, Coinbase's Base Layer-2 shares 2.5% to 15% of its sequencer revenue with Optimism Treasury. Since its launch in October 2023, Optimism has earned approximately 2,566 ETH in sequencer revenue from Base.
Commenting on the launch, Ink founder Andrew Koller said: [layer-2] is only as good as the value it brings to its users, and that value is created by a thriving ecosystem of developers. ”
read more: Kraken joins Coinbase to compete with BitGo’s wBTC
The Ink blockchain is touted by Kraken as a DeFi-centric chain and will enjoy 1-second block times on its first day of launch, which will improve to sub-second block times in the future.
Ink's testnet is expected to go live within 17 days. The testnet launch will include an AMA, live demos, and contests for developers.
Founded by Jesse Powell in 2011, Kraken is one of the oldest cryptocurrency exchanges today with approximately 10 million users in over 180 countries. Based on Coinmarketcap rankings, Kraken is currently the 6th largest cryptocurrency exchange.
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