Kraken, a prominent cryptocurrency exchange, has announced the launch of its layer-2 rollup network, Ink, built on the Ethereum blockchain. The network utilizes the OP stack, a customizable framework that enables developers to create their own rollups using Optimism's technology. Initially, the team had planned for Ink to go live in early 2025, but the launch is now ahead of schedule.
As part of the agreement to build on the OP Stack, Kraken will receive 25 million OP tokens, valued at approximately $58 million. This move is part of Optimism's strategy to distribute developer grants to participants building on the stack, which contributes to the broader 'Superchain' ecosystem. Kraken's competitor, Coinbase, also announced plans to build a layer-2 network using the OP Stack, called Base, which is now the second-largest rollup network.
Other participants, including Uniswap, World Network, and Sony Blockchain Labs, are also building layer-2 networks with the OP Stack, although the details of their agreements remain undisclosed. According to Andrew Koller, the founder of Ink, 'Today marks the beginning of Ink, and our most ambitious work is just getting started – growing Ink and pushing the boundaries of on-chain experiences to unlock new applications and opportunities for builders and users alike, with a focus on layering privacy, security, and UX enhancements on a foundation of deep liquidity.'