Ink, Kraken Exchange’s Upcoming Blockchain: Everything You Need to Know
- Kraken has announced Ink, a new blockchain that aims to act as a “seamless bridge to DeFi.”
- Ink’s testnet plans to launch later this year.
- The full blockchain has plans to open to retail and institutional users in Q1 of 2025.
Kraken, one of the world’s oldest crypto exchanges, has announced plans to launch a blockchain in early 2025.
The new blockchain, known as Ink, will focus on hosting decentralized applications that provide a platform for trading and borrowing tokens.
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What is Ink?
Ink is Kraken’s upcoming Layer 2 blockchain based on technology similar to Coinbase’s Base , which has become a surprisingly major player in the Ethereum Decentralized Finance (DeFi) ecosystem.
Kraken aims to simplify the experience of using DeFi applications for the average person with Ink.
As per the official release , the exchange’s upcoming blockchain will be built on Optimism’s Superchain. This will allow Ink to inherit the security of Ethereum and become a part of the Superchain’s extensive network of similar solutions.
All of Ink’s apps will be available through the Kraken Wallet app.
Ink founder Andrew Koller told Bloomberg that the upcoming blockchain would be a “very easy-to-use, Apple-esque experience.”
“Over time, our users will have these two centralized and decentralized ecosystems playing with each other,” he added.
When Will Ink Launch?
Ink’s testnet has plans to launch this year, giving developers the chance to experiment with applications.
Developers, however, can now use Ink to mint limited-edition NFTs.
The full blockchain will open to retail and institutional users in Q1 of 2025.
On its debut, Ink will reportedly host a dozen applications, including decentralized aggregators and exchanges.
In the future, Ink plans to support advanced financial applications and tokenized real-world assets.
Kraken is currently planning multiple events for developers, including one at Devcon in Thailand this November. Developers can use Ink to RSVP for the event.
