Kraken Received 25M OP Grant to Launch Ink L2 on Superchain
Per new reporting from CoinDesk, Optimism Foundation awarded Kraken a grant of 25 million OP tokens—currently valued at over $42 million—earlier this year.
What's the scoop?
- The news comes after crypto exchange giant Kraken’s announcement last week that it was joining the Optimism Superchain ecosystem with its own Layer 2, Ink, atop the OP Stack framework.
- The grant is structured around transaction milestones, meaning Kraken will unlock additional tranches of OP if Ink can achieve monthly transaction goals.
- Optimism’s chief growth officer, Ryan Wyatt, confirmed the grant details on X (formerly Twitter), noting that an additional 5 million OP will help fund Ink’s engineering efforts.
Bankless take
The Optimism Foundation’s grant to Kraken underscores its Superchain strategy of attracting high-impact projects with the capacity to catalyze long-term ecosystem growth. With Base and Ink now in the fold, let’s see if another major crypto exchange will be the next company to embrace the OP Stack.
Like Base, and other T1 opportunities, Ink received a foundation grant. We will continue to share this publicly as it's key!
— Ryan Wyatt (@Fwiz) October 29, 2024
25M OP for this deal, 5M OP to help fund the engineering efforts for Ink, 20M for massive txn milestones to drive fees to the Collective and make it… https://t.co/HhjxUn4Qsi