Cryptocurrency alternate Kraken introduced the upcoming launch of Ink, an Ethereum layer 2 community primarily based on Optimism Superchain, in a press release on October twenty fourth.

Ink goals to permit customers to commerce, lend and borrow tokens with out the necessity for intermediaries, and represents a major shift from Kraken's present centralized alternate mannequin.

Ink founder Andrew Kohler stated:

“Ink will proceed to work carefully with builders and the neighborhood to construct an ecosystem that’s enticing to everybody. We're excited to speed up our on-chain transition with operational L2. Let's paint the long run.”

The community plans to launch a testnet for builders later this 12 months, with full rollout for retail and institutional customers anticipated within the first quarter of 2025.

Why Optimism Superchain?

Kraken stated that by selecting Optimism Superchain, it could actually profit from Ethereum's sturdy safety. This positions Ink as a part of Superchain, an built-in community of value-sharing blockchains designed to reinforce the safety, governance, and scalability of Ethereum.

In the meantime, the alternate's resolution is in keeping with a rising pattern as main cryptocurrency corporations similar to Coinbase, Uniswap, and World leverage the expertise for his or her layer-2 networks.

Ryan Wyatt, Chief Progress Officer at Optimism Limitless, commented:

“Optimism’s expertise powers Superchain, and practically 50% of all Ethereum L2 transactions. As a part of this Superchain ecosystem, Ink is dedicated to contributing to Optimism governance and dealing collectively to scale Ethereum. The proceeds will return to Optimism Collective.”

Regardless of this vital adoption of Optimism expertise, Arbitrum stays the dominant Layer 2 community, based on DeFillama knowledge.

Kraken's Increasing Product Portfolio

The launch of Ink enhances Kraken's enlargement of its product vary aimed toward establishing itself within the trade.

This month, the alternate launched kBTC, a brand new wrapped Bitcoin product designed to reinforce the supply of premier cryptocurrencies in DeFi actions. The corporate stated that every kBTC is securely backed 1:1 by an equal quantity of Bitcoin in custody.

Moreover, Kraken additionally introduced the combination of EigenLayer to permit customers to restake ETH instantly from the platform.

Moreover, Kraken has launched a derivatives buying and selling platform in Bermuda following the receipt of a Class F Digital Enterprise License from the Bermuda Financial Authority (BMA).

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