Kraken Unveils Ink: A New Layer-2 Blockchain Set to Transform DeFi Access in 2025
In a significant move that underscores the growing convergence of centralized and decentralized finance, cryptocurrency exchange Kraken has announced plans to launch Ink, an Ethereum Layer-2 blockchain built on Optimism’s OP Stack. The platform, scheduled for mainnet deployment in early 2025, aims to simplify DeFi access for both retail and institutional users.
Ink will join the Optimism Superchain ecosystem, following in the footsteps of successful Layer-2 implementations like Coinbase’s Base. The network promises one-second block times and will support a range of DeFi applications, including perpetual futures trading, decentralized lending, and yield farming.
“As part of the Superchain, Ink is laying the groundwork for an interoperable and pluralistic on-chain ecosystem that will attract developers and make Ink the ideal platform for the next generation of DeFi applications and protocols,” said Ink founder Andrew Koller in a statement released Thursday.
Unlike some blockchain initiatives, Kraken has confirmed it does not plan to issue a native token for Ink. Instead, the exchange will initially serve as the network’s sole sequencer, managing transactions and generating revenue through transaction processing – a model similar to that employed by Coinbase’s Base, which reportedly generated $53 million in sequencer revenue in the second quarter alone.
The launch will feature integration with over a dozen decentralized applications at launch, with plans to expand into real-world assets and advanced lending platforms. Developers will have the opportunity to experiment with the platform through a testnet release scheduled for later this year.
By joining the Optimism Superchain, which currently processes nearly half of all Ethereum Layer-2 transactions with over 7 million daily transactions, Ink will benefit from enhanced interoperability with other networks in the ecosystem, including Base, Zora, and World Chain. This integration aims to address the common challenge of fragmentation in the Layer-2 landscape while contributing to Optimism’s governance and revenue-sharing structure.
The announcement comes as Kraken continues to expand its product offerings, following the recent launch of its derivatives trading platform in Bermuda and the introduction of kBTC, a wrapped bitcoin alternative available on Ethereum and OP Mainnet. This strategic expansion positions Kraken to compete in the growing Layer-2 market, where Base has already accumulated over $2.5 billion in total value locked since its launch in August 2023.
