Kraken eyes DeFi enlargement with launch of Ink, its new Ethereum layer-2 community

Crypto trade Kraken introduced the upcoming launch of Ink, an Ethereum layer-2 community primarily based on the Optimism Superchain, in an Oct. 24 assertion.

Ink goals to empower customers to commerce, borrow, and lend tokens with out the necessity for intermediaries, marking a big shift from Kraken’s present centralized trade mannequin.

Ink founder Andrew Koller stated:

“Ink will work intently with builders and the neighborhood to create a compelling ecosystem for all. We’re excited to speed up the transfer onchain with an interoperable L2 that may make it much more seamless for crypto customers to entry DeFi. Ink the longer term.”

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

Why Optimism Superchain?

Kraken acknowledged that its alternative of the Optimism Superchain would permit it to profit from Ethereum’s strong safety. This could additionally place Ink as a part of the Superchain — a unified community of blockchains that shares safety, governance, and values designed to boost Ethereum scalability.

In the meantime, the trade choice aligns with the rising pattern amongst main crypto corporations, together with Coinbase, Uniswap, and World, which leverage this know-how for his or her layer-2 networks.

Optimism Limitless Chief Progress Officer Ryan Wyatt commented:

“Optimism’s know-how powers the Superchain, and practically 50% of all Ethereum L2 transactions. As a part of this Superchain ecosystem, Ink will contribute to Optimism governance and drive income again to the Optimism Collective as we work collectively to scale Ethereum.”

Regardless of this vital adoption of Optimism know-how, Arbitrum stays the dominant layer-2 community, in response to DeFillama information.

Kraken’s increasing product portfolio

The launch of Ink enhances Kraken’s increasing vary of merchandise aimed toward solidifying its trade place.

This month, the trade launched kBTC, a brand new wrapped Bitcoin product designed to boost the highest crypto availability in DeFi actions. The agency acknowledged that every kBTC is securely backed 1:1 by an equal quantity of Bitcoin held in its custody.

Additional, Kraken additionally introduced the combination of  EigenLayer to permit its customers to restake their ETH immediately from its platform.

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

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