Kraken Unveils Ink Layer 2

• Kraken unveils its Ink Layer 2 network.

• Arbitrum Orbit supports fast withdrawals.

• Synthetix Perps V3 goes live on Arbitrum.

• Celestia plans v3 upgrade on testnet.

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Kraken introduced Ink, a new Layer 2 built on the OP Stack, designed to streamline access to DeFi and onboard users onchain by connecting Kraken’s centralized services with a decentralized ecosystem. Ink will feature 1-second block times, settle transactions on Ethereum, and is being developed with the Gelato Network RaaS platform. Similar to Coinbase’s Base, Kraken anticipates migrating its infrastructure onchain. As a member of the Superchain, Ink will support interoperability, governance standards, and shared upgrades and contribute a portion of its sequencer revenue to the Optimism Collective. The testnet launch is scheduled for November 2024, with the mainnet launch expected in early 2025. Users can currently mint a commemorative NFT on OP Mainnet.

Arbitrum Orbit, a tech stack for building L2 and L3 chains, now supports fast withdrawals, enabling withdrawals transactions to be finalized in as little as 15 minutes for Orbit L2 chains and 15 seconds for Orbit L3 chains. Optimistic Rollups typically require a seven-day challenge period for fraud proofs, leading to long withdrawal periods. Fast withdrawals are initially available for Arbitrum Orbit chains built using the AnyTrust architecture and rely on a Data Availability Committee (DAC). The implementation is facilitated through a committee-based validation process. Arbitrum Orbit chains that meet the prerequisite criteria can customize their own withdrawal configurations.

Synthetix Perps V3 is now live on Arbitrum One through the Kwenta interface with support for 81 new markets. Synthetix V3 introduces multi-collateral support, cross-margin trading, account-based access controls, and improved liquidation mechanisms, allowing traders to use their entire portfolio as collateral across multiple positions. Supported collateral types include ETH, tBTC, USDx, and USDe. Kwenta features one-click gasless market orders, integrated bridging via Socket, and delegated wallets. According to DefiLlama, Synthetix V3 on Arbitrum currently holds about $8.5 million in TVL.

• Funki unviels OP Stack L2

• Discussions to increase gas limit

• Upcoming Celestia v3 upgrade

• ZachXBT has recovered $500m

• OnchainKit introduces Checkout