Crypto Exchange Kraken’s Ink Layer-2 Blockchain Goes Live

Kraken, the The seventh largest crypto exchangeIts layer-2 aggregation network built on top of the Ethereum blockchain has gone live.

A network called Ink was founded OP stackA customizable framework that allows developers to create their own packages using Optimism technology. The The team originally planned Ink is slated to launch in early 2025, so its mainnet launch is ahead of schedule.

Kraken Agreed to receive 25 million OP tokens (equivalent to approximately $58 million) as part of the contract to build the OP Stack. Optimism admitted Part of its strategy is to provide developer grants for participants building the stack, which in turn will contribute back to the wider “Superchain” ecosystem.

Kraken competitor Coinbase has said it will build a layer-2 network with OP Stack in August 2023. The so-called base product is now the second largest industry L2beat. At that time, expressed optimism The base team will receive up to 118 million OP tokens and in return will contribute 2.5% of the sequencer’s revenue or 15% of their revenue to the Optimism community.

Other participants building Layer 2 with the OP Stack — including Uniswap, World Network and Sony Blockchain Labs — did not say how many OP tokens they will receive as part of the deals.

“Today is just the beginning for Ink, and now our boldest endeavor will truly begin – growing Ink,” said Andrew Koller, founder of Ink, in a press release. “We’re pushing the boundaries of the on-chain experience to unlock new applications and capabilities for developers and users, expanding privacy, security and UX enhancements based on deep liquidity.”

Read more: Kraken chose Optimism’s “Superchain” after receiving a stack of OP Tokens