what's ink?
Ink is a Layer 2 blockchain developed by Kraken and integrated into the Optimism Superchain, designed to simplify and accelerate DeFi experiences by providing a unified ecosystem for onchain interactions. Its core value proposition lies in reducing barriers to entry for DeFi users and builders through seamless cross-chain functionality, low-cost transactions, and rapid confirmations without compromising security. Key technical innovations include permissionless fault proofs for trustless verification, support for USDC via Circle's CCTP V2 for efficient stablecoin flows, and the introduction of kBTC—a fully backed, onchain Bitcoin representation secured by Kraken. Ink targets DeFi applications, enabling real-time data feeds from oracles like Seda Protocol and fostering an environment for high-efficiency user operations, as evidenced by its leading position in cost per L2 user operation among top chains. As part of the Superchain, Ink benefits from shared liquidity and interoperability, with notable partnerships including Optimism for retro funding, Infinex for cross-chain swapping, and Acurast for potential airdrops to INK holders, positioning it as a competitive, Kraken-backed hub for decentralized finance innovation.
ink crypto project raised $42.5M funding.
Raised $42.5M in funding.
Token launch is expected in approximately 6-8 months from January 2026.
Optimism Foundation proposed a token buyback program directing 50% of incoming sequencer revenue to purchase OP tokens monthly for one year, with buybacks scheduled to begin in February 2026 if approved by governance vote on January 22, 2026.
Listed among protocols in a yield farming vault strategy operated by spreads_fi, which claims 2.54x yield leverage at 21% APR and 1.65x airdrop leverage with boosted points.
Active addresses grew by 2103% over the one-year period ending in 2025.
Reached all-time high daily app revenue of 59.42 ETH ($182.15k) on December 16, 2025, marking the first time daily app revenue exceeded 50 ETH.
RLUSD stablecoin is currently testing on the network with official launch planned for 2026, pending New York regulatory approval.
Velodrome Slipstream offers LP rewards on three pairs: WETH-VELO at ~515% APY, kBTC-USDG at ~360% APY, and USDC-WETH at ~261% APY.
Ripple's $1.3B RLUSD stablecoin expands to the chain using Wormhole's NTT standard, becoming the first U.S.-based trust-regulated stablecoin on the platform and creating liquidity pairs with wrapped XRP.
Stablecoin supply reaches new all-time high of $172.43M, representing a 33% increase over the past 3 days.
NadoHQ is built by Kraken's core engineering team as an internal initiative. The platform currently shows $19.7M TVL, $500M daily trading volume, $100K daily fees, and over 1,300 users in Private Alpha.
Tydro's onchain lending and borrowing system operates on Aave's infrastructure as a whitelabeled instance, managing its own assets and risk parameters.
Apollo Global's ACRED tokenized fund on ink chain reaches $10.7M market cap following a mint in late November, with tokenization provided by Securitize.
Ink Pass launches for public minting on the network, and the chain becomes part of the upgraded kBTC network.
Network achieves $1B volume on nadoHQ perps in 10 days and $450M supplied on Tydro lending, with 880K+ average daily transactions recorded. Platform ranks top 8 by TVS and becomes the largest RaaS chain on L2Beat, with Gelato Network confirmed as infrastructure partner.
USDG market cap on ink chain grows approximately 10x in the past two months.
nadoHQ becomes the official perpetual DEX on ink chain and enters private alpha testing phase. Total stablecoin supply across the chain exceeds $150 million.
USDG stablecoin supply exceeds $1 billion, up 30x since the start of the year, with deployment confirmed on ink chain, Solana, Ethereum, and XLayer.
Velodrome Slipstream pools display yields of ~490% for USDT0-WETH, ~435% for kBTC-USDG, and ~212% for WETH-kBTC.
Supply caps for wrsETH on the Tydro market reach maximum capacity, with cap increases planned soon.
Native rsETH minting and bridging launches on ink chain with integrations on Tydro and Velodrome.
A phishing attack targets users through Dinero's Discord on Ink, where the verification process redirects to a malicious Guild.xyz copycat that executes unauthorized approve transactions to steal funds.
The launchpad opens for public access enabling anyone to deploy smart contracts on IINK. The platform commits 3,000 tez to collect art minted on IINK this month with featured drops from multiple artists.
Perpetual DEX Rails operates on Ink Network (Kraken's L2) with $20M funding from Kraken and CMCC, running a campaign distributing 40.5% of token supply to participants.
On November 18th, the INK points farming system on Tydro removed looping rewards and now only awards points for supplying assets, with USDC offering the highest rate at 0.35 points per $1000 daily. The 13-week farming program runs from October 15, 2025 to January 14, 2026.
Nado alpha users receive automatic ETH airdrops upon wallet connection to cover gas costs for bridging funds to the chain.
USDT on chain ranks as Tether's fastest growing product based on 30-day market cap growth percentage.
weETH goes live on Tydro, a lending market, enabling bridging, looping, and collateralization functionality.
Identified as one of the two fastest growing stablecoins based on 30-day market cap growth.
Vertex token holders can now verify their allocation for an INK airdrop worth 1% of total supply, related to a previous acquisition announced in July.
weETH goes live on chain, bringing high-yield wrapped ETH and institutional-grade liquidity to the ecosystem.
New CLOB DEX nadoHQ from former Kraken team deploys on chain, offering unified margin trading across spot, margin, and perpetuals.
Ranks 5th in TOP 5 chains by 3-month net inflows, following Arbitrum, Starknet, edgeX_exchange, and WorldChain.
Stablecoin supply reaches new all-time high of $142.4 million, up from previous ATH of $135.5 million with 60% growth over 30 days.
Team member leaves positions at Kraken and ink chain about a month ago, moves to new startup Colossus Pay.
Hyperlane integrates Circle CCTP V2 to rebalance USDC liquidity across supported chains including ink.
Kraken lists $DAG by Constellation, now deployed on ink chain, with trading beginning Nov 11 and deposits already open.
Rails, a hybrid perpetual trading platform, builds on ink chain with centralized order execution and on-chain custody through zero-knowledge proofs.
On-chain stablecoin supply hits all-time high at $134.9M with 14% increase in 24 hours and 127% growth over 30 days.
Daily transaction count increases by approximately 800% since the start of the year. Hyperlane expands zero-slippage USDC bridging support to include the chain.
Six liquidity pools on Velodrome Slipstream now provide LP rewards, with the USDT0-USDG pair offering 3,619% APY and WETH-USDG offering 1,053% APY.
Lido, the leading liquid staking protocol with $28B+ TVL, expands wstETH to ink chain using Chainlink CCIP infrastructure as part of early multi-chain deployment.
Ink contributes to the Superchain achieving 19K+ TPS across Ethereum's L2s, with the majority powered by the OP Stack.
Tydro hits ATH with Aave-powered infrastructure. Lending and borrowing live with The Deep integration offering airdrop eligibility and incentives across four score buckets.
Ranks as top TVL gainer among chains with over $200M TVL, up more than 20% this week.
TVL surges nearly 4,000% in less than two weeks, attributed to the Tydro DeFi protocol.
Tydro on INK runs a points program via Merkl supporting BTC, ETH, and USDC with CCTP integration.
TVL grows to $239.2M by October 20, with stablecoins representing $100.32M on the network.
Tydro, a lending protocol, operates on the platform and is highlighted as a worthy mention among new projects halfway through October.
Records 15.3 TPS, ranking 5th in the Ethereum ecosystem behind Base, Soneium, Ethereum mainnet, and Optimism.
Tydro protocol records $124M in deposits within first 24 hours of launch.
Tydro lending and borrowing protocol is now live with INK token governance and integration into Kraken products.
Velodrome Slipstream LP rewards on the network show WETH-USDG pair at approximately 1,189% APR, kBTC-USDG at approximately 304% APR, and USDT0-USDG at approximately 16% APR.
Tydro, a white-label instance of Aave v3, launches on the network and supports the INK token, establishing a DeFi layer with Chaos Price Oracles as the exclusive price feed provider.
GHO stablecoin launches on the network with liquidity pools on Velodrome DEX eligible for VELO emissions in GHO-USDT and GHO-USDC pairs.
USDC deposits and withdrawals are now available on the network, expanding stablecoin support with geographic restrictions applying.
INK holders are eligible for sproutlyrwa NFTree airdrop, requiring Discord participation, Matrica verification, and wallet submission on alphabot.
Gasless refuel feature launches on the network, allowing users to swap tokens for gas without requiring gas upfront.
Gelato delivered the custom Superchain infrastructure including the sequencer enabling sub-second blocks, gasless UX, and low-latency access.
Kraken IPO is described as imminent, while the network faces criticism for having minimal development activity with only a handful of memecoins beyond core infrastructure.
Optimism co-founder publicly features the network as a key participant in the Superchain ecosystem, building alongside Base, Soneium, and Unichain on a unified composable layer where features strengthen the entire ecosystem.
A blockchain analytics platform adds support for the network, enabling analytics, engineering and accounting capabilities with new infrastructure including schema, streams, and USDH dashboard.
Native USDC from Circle launches on the network with three new Velodrome liquidity pools (USDC-USDT0, USDC-WETH, USDC-USDC.e) now eligible for VELO emissions.
High-yield liquidity pool rewards are now available on Velodrome with the USDT0-WETH pair offering ~362% APY, WETH-kBTC at ~124%, and USDT0-kBTC at ~86%.
The network is listed among projects hosting side events in Seoul during what appears to be a crypto conference, indicating active ecosystem participation and networking activities.
A developer includes the network in their list of "best chains to build on" based on personal experience, positioning it alongside established networks like Polygon, Arbitrum, and Avalanche.
Aave DAO officially identifies the network as strategically advantageous and plans to focus on it while shutting down underperforming L2 instances on Scroll and zkSync.
The network drives $1.5M volume in the past 24 hours, with details emerging that Optimism paid $62.5M as part of the Kraken partnership deal.
The network announces a technical comparison or implementation involving "Gattaca Based Preconfs" and "Flashbots Flashblocks" technologies, suggesting development progress in transaction preconfirmation and MEV management infrastructure.
Third-party data from L2BEAT shows the network leads all top 10 L2 chains in cost efficiency with the lowest average cost per user operation over the past 30 days.
Network reaches 810,872 daily transactions ATH with 112% month-over-month growth.
Network reaches 770,574 daily transactions ATH with 74% monthly growth, ranking in top 10 chains.
Successfully completes required security upgrades, maintaining Stage 1 rollup status and preventing downgrade risk.
Token and L2 chain securing full product integration on Kraken platform.
New L2 chain launches with Kraken backing, featuring operational bridge from ETH and Base.
Kraken secures $122.3M in funding while confirming integration with Optimism Superchain, positioning for future $OP token rewards distribution.
Stage 1 rollup status at risk of downgrade to Stage 0 in 7 days; development team working on required security fixes.
Network metrics show increased activity following airdrop announcement.
User engagement shows no significant changes one month after airdrop announcement, indicating potential growth stagnation despite recent positive developments.
Protocol deploys trading upgrade with Superswaps feature and introduces SuperStacks rewards system.
New governance token announced with 4% allocation for liquidity mining incentives targeting $250M in supply.
Protocol maintains Stage 1 rollup status following OP governance-approved security upgrade.
Achieves L2Beat Stage 1 security compliance and implements Superchain Upgrade 16 with enhanced interoperability features and increased gas limits.
New stablecoin functionality launched supporting USDT and USDC for global payments and spending.
Token reaches new all-time high price level.
Superswaps launches cross-chain swap functionality with multiple chain integrations, enabling gasless single-transaction swaps.
Vertex Protocol shuts down operations and merges with platform, marking significant consolidation in the sector.
New launchpad 'Inky' launches on Kraken with password-gated access.
Vertex Protocol migrates Perp DEX to platform, expanding DeFi capabilities and builder activity.
Kraken indicates INK token has limited utility, while previous VRTX token holders face complete value loss post-acquisition, raising concerns about long-term token sustainability.
Trading platform introduces swipe-based cryptocurrency trading interface with quick buy functionality.
Platform evolves into memecoin launchpad with contest functionality for new token launches.
New wallet infrastructure partnership established with Kraken exchange, powered by Dynamic technology.
New lending infrastructure partnership with Aave and Kraken enables mixed stock and crypto collateral for stablecoin borrowing.
Kraken launches paid mascot-naming contest for L2 platform through JokeRace.
New exchange integration launches on Infinex with deposit, send, and trading functionality for multiple tokens.
Infinex platform adds support for fast, low-cost token transfers including $USDT0, $PURPLE, and $SHROOMY through new integration.
On-chain metrics reveal concerning low daily user activity compared to competitor chains.
New 7-figure airdrop announced through Portal to Bitcoin partnership, backed by Coinbase Ventures and OKX with $43.5M funding.