Kraken Launches Ink Ahead Of Schedule Due To Overwhelming Community Support

Ink, the Optimism-powered Layer-2 blockchain solution by Kraken, has officially launched on mainnet today, significantly ahead of its anticipated timeline. This early launch comes as a result of overwhelming support and enthusiasm by the crypto community, and both Ink and Optimism are hopeful for a productive partnership going forward.

Ink And Optimism Partner Up

The launch was fast-tracked due to the millions of testnet transactions and wallets connected, which demonstrated strong demand. Initially, Kraken had projected a 2025 launch for Ink, but with the network now live, the focus will shift to Stage 1 decentralization, with permissionless fault proofs expected in January.

In addition to expanding what Ink can do, the team is also breaking new ground in on-chain experiences to unlock fresh opportunities for builders and users, and that the overwhelming support by the community was in fact the main reason for all this, stated Ink Founder Andrew Koller.

Looking ahead, Ink will prioritize decentralization and interoperability. While Kraken has faced some setbacks recently, including an $8 million fine in Australia and the closure of its NFT marketplace, the overall outlook remains promising.

Attracting Devs And Users

Kraken designed Ink as a Layer 2 solution on the Optimism Superchain. Experts noted that Ink quickly amassed over 100,000 users after its initial announcement, and its testnet experienced significant activity and hype.

Furthermore, as part of the Superchain, Ink will integrate with Optimism and both teams are eager to collaborate and attract developers and users as they try to scale Ethereum together, said Ryan Wyatt, Chief Growth Officer at Optimism Unlimited.

However, Optimism faced some challenges before the mainnet launch. In October, the scaling solution ecosystem encountered pressure, and the price of the OP token experienced significant volatility. Despite the ongoing crypto bull market, the token has also underperformed throughout the year. Nevertheless, a successful Ink launch could potentially strengthen Optimism in the long run.