Catenaa, Wednesday, June 25, 2025- Activity on Kraken’s Ink Layer 2 blockchain has increased significantly ahead of the planned rollout of its INK token, signaling growing developer and user engagement on the network.
Ink, a Layer 2 blockchain built on Optimism’s Superchain, reported daily transactions surpassing 500,000 and active smart contracts reaching a peak of 6,000 on June 18, nearly doubling since May. Despite this surge, total value locked on the platform remains below $8 million, indicating further room for capital growth.
The Ink Foundation recently announced the INK token with a fixed supply of 1 billion tokens. A community airdrop will be distributed through a liquidity pool on the Aave platform. However, the token will not confer governance rights and is designed mainly to incentivize network use and liquidity aggregation.
Launched in December 2024, Ink is fully compatible with Ethereum Virtual Machine applications, offering developers lower transaction costs and faster speeds for deploying Ethereum-based apps. The network is part of Optimism’s Superchain ecosystem alongside other Layer 2s including Base by Coinbase and those developed by Sony and Uniswap.
The Ink token launch aims to bolster Kraken’s Layer 2 offering as it competes with Coinbase’s Base network in the expanding Ethereum Layer 2 market.
