Crypto exchange Kraken announced plans to launch its proprietary blockchain, Ink, in early 2025. Designed as a Layer 2 (L2) solution leveraging Optimism’s OP Stack, Ink aims to simplify access to decentralized finance (DeFi) applications, enabling users to trade, borrow, and lend tokens without intermediaries.
Key Features of Ink Blockchain
- User-Friendly Design: Andrew Koller, Ink’s founder, compares its intuitive interface to Apple products, targeting both crypto veterans and newcomers.
- Ethereum Superchain Integration: Ink will connect to Ethereum’s ecosystem, enhancing interoperability for DeFi protocols.
- Developer Testnet: A test version for developers will debut later this year, allowing DApp builds ahead of the 2025 launch.
“Ink will work closely with developers to create a compelling ecosystem,” Koller stated. “We’re accelerating the move onchain with an interoperable L2 for seamless DeFi access.”
Strategic Ecosystem Expansion
- Kraken plans to integrate over a dozen DApps, including decentralized exchanges and yield platforms, within its Kraken Wallet app.
- Unlike many blockchains, Ink will not issue a native token initially. Transaction processes will be managed centrally before transitioning to decentralization.
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Revenue and Regulatory Milestones
This move mirrors Coinbase’s sequencer revenue model, which generated $53 million in Q2 2024. Kraken’s announcement follows its recent Bermuda derivatives platform launch, approved under a Class F Digital Business License.
FAQ: Ink Blockchain
Q1: What makes Ink different from other L2 solutions?
A: Ink combines OP Stack’s scalability with Kraken’s focus on user accessibility, avoiding native token complexities.
Q2: Can developers build on Ink before 2025?
A: Yes, the testnet will open later this year for DApp development.
Q3: Will Ink have gas fees?
A: While details are pending, Kraken aims to balance cost-efficiency with decentralization during the transition phase.