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Kraken Plans to Launch Ethereum Layer 2 Blockchain Ink in Partnership with Zora, Aiming for Early 2025 Mainnet Debut
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Kraken is set to launch its own Ethereum Layer 2 blockchain named Ink, partnering with Zora to enhance its DeFi offerings in 2025.
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This initiative follows rival Coinbase’s success with its Layer 2, Base, showcasing Kraken’s commitment to evolving within the competitive crypto landscape.
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“We’re excited to welcome Ink to Optimism,” said Ryan Wyatt, Chief Growth Officer of Optimism Unlimited, highlighting the significance of this launch within the Superchain ecosystem.
Kraken plans to debut its Ethereum Layer 2 blockchain, Ink, in partnership with Zora, enhancing DeFi services and joining the growing Superchain network.
Kraken’s New Era: Introducing Ink on Ethereum Layer 2
In a significant development within the crypto space, Kraken has announced the upcoming launch of Ink, its proprietary Ethereum Layer 2 blockchain. This new platform is expected to debut its testnet later this year, with a full launch targeted for the first quarter of 2025. By offering permissionless access to decentralized finance (DeFi) applications, Ink aims to diversify Kraken’s product offerings and capture segment market share within the ever-evolving blockchain sector.
Understanding Ink’s Role in the Ethereum Ecosystem
As part of the broader Superchain initiative, which is built using Optimism’s OP Stack, Ink will allow for seamless interoperability between various Layer 2 blockchains. With the Superchain already home to prominent players like OP Mainnet, Base, and Worldcoin, Ink is anticipated to enrich the networking capabilities and scalability of applications created on Ethereum. Notably, decentralized exchanges, including Uniswap, are also expected to leverage this innovative framework.
Strategic Partnership with Zora
The collaboration with Zora is a strategic move for Kraken, as it looks to provide essential DeFi services like trading, lending, and borrowing upon Ink’s launch. This partnership underscores Kraken’s intent to push boundaries and innovate within blockchain framework, aligning itself with significant industry advancements.
Decentralization Plans and Revenue Mechanisms
Initially, Kraken will serve as the sole sequencer for the Ink blockchain, managing transactions and accumulating revenue. However, Ink’s founder, Andrew Koller, revealed that Kraken plans to gradually decentralize this role, moving towards a user-driven governance model. This intention reflects Kraken’s commitment to long-term sustainability and community engagement in its decentralized environment.