Kraken, BOB, Swell Further Drive Optimism Superchain’s Expansion
Kraken Secures $42 Million in OP Tokens for New Layer-2 Network on Optimism
Kraken received a grant of 25 million OP tokens, valued at approximately $42.5 million, from the Optimism Foundation to develop its new layer-2 network, Ink, utilizing Optimism’s OP Stack framework. The funding is divided into 5 million OP tokens for engineering and 20 million OP tokens contingent on achieving transaction milestones.
The deal, finalized in early 2024, reflects layered agreement structures in Optimism’s Superchain, joining other major participants like Coinbase and Sony. Notably, Kraken's grant aligns with activity-driven incentives, and the broader ecosystem aims for interoperability while benefiting from Ethereum’s security features.
BOB Becomes First Bitcoin Layer 2 Project on Optimism's Superchain
BOB, a pioneering Bitcoin layer-2 project, has integrated with Optimism's Superchain, marking a significant step in bridging Bitcoin and Ethereum. This hybrid layer-2 network aims to establish Bitcoin as a central player in decentralized finance (DeFi). As part of the integration, BOB received an $870,000 grant from the Optimism Foundation.
BOB co-founder Alexei Zamyatin emphasized that joining the Superchain enhances their capability to provide the latest technology for Bitcoin developers. While Optimism currently holds over $6 billion in total-value locked (TVL), it trails behind Arbitrum's $13 billion, despite supporting over 40 rollups that collectively surpass $18 billion in TVL.
Swell Transitions to OP Stack for Rollup Development, Abandoning Polygon CDK Plans
Swell is transitioning to Optimism's Superchain ecosystem by developing an optimistic rollup on the OP Stack, moving away from its initial plan to use Polygon's chain development kit. This migration will utilize ETH as the gas token and allocate a portion of sequencer revenue to the Optimism Collective.
Swell's unique approach includes a "proof of restake" mechanism to enhance security. Founded in 2023, Swell manages over $1.3 billion in total value locked and has introduced liquid restaking products, further integrating with EigenLayer. Anticipation surrounds potential grant funding from the Optimism Foundation for this migration.
Curious about how they are redefining the layer-2 landscape? Check out our breakdown of the Optimism Superchain’s massive growth!
This article has been refined and enhanced by ChatGPT.
