Crypto exchange Kraken, today on 19th December announced that its Layer 2 (L2) network Ink, built on the Optimism Superchain, is live on the mainnet. The launch comes early after a successful testnet phase, initially scheduled for a Q1 2025 debut.
What is INK?
Ink is designed to connect the missing link between users and builders in the DeFi ecosystem, where all DeFi protocols can exist under an integrated ecosystem. With this project, DeFi will be redefined by enabling users to access and innovate seamlessly, the blog post said.
Ink’s launch is a major milestone toward its decentralisation pathway. Finally, in January 2025, the project will enter Stage 1 of decentralization by implementing permissionless fault proofs. This will enable every member of the community to contest any possibly invalid transaction, thus increasing accountability and building trust among its users.
SuperchainERC20: The Bridge Between Ecosystems
Kraken is introducing the SuperchainERC20 token, one of Ink’s key features. This allows for fluid interaction with all protocols in DeFi (bridge, liquid staking, DEX, lending, etc.). Ink already has launch partners deploying assets on its platform, ensuring a solid start.
Rapid Community Growth
Since revealing Ink in October, it has shown incredible momentum. Its developer Discord community grew beyond 100,000 members in a matter of weeks, and testnet activity exploded, racking up millions of transactions across hundreds of thousands of wallets.
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It has been shown that Ink’s platform is appealing and has all the likeliness to be a competitor in the DEFI ecosystem with over a dozen infrastructure partners already integrated with Ink.
Breaking Barriers in DeFi
Ink’s mission is about more than technological progress. Its goal is to remove the friction that tends to slow or block users moving between centralized and decentralized financial ecosystems.
Ink’s ability to streamline user interaction with the best DeFi protocols and communities makes it an easy solution for a more mature crypto ecosystem.
Built upon Ethereum’s legacy and the success of Layer 2 solutions, the platform is the next chapter of DeFi’s evolution. It takes accessibility to the next level and expedites the movement of assets and activity on-chain. The Ink language is a significant advancement towards our mutual goal of improving blockchain scalability and usability.
Layers 2: A Competitive Space
The launch of Ink comes as the Layer 2 ecosystem becomes increasingly crowded. In 2023, prominent competitor Coinbase launched its own Layer 2 network, Base, utilizing OP Stack technology. According to L2beat, Base is already the second-largest rollup network, a sign of growing interest and activity in Layer 2 solutions.
Ink takes a big step forward, and its initial success and bold plans make it likely to become a powerful platform in the DeFi ecosystem. To sum up, Ink has its basis on access, scalability, and confidence throughout the community, which makes it one of the most important parts in the creation of your DeFi future.
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