The Real Reason Kraken Built an L2 | Andrew Koller & Hilmar Orth

31 snips

Oct 29, 2024

Guest

Hilmar Orth

Guest

Andrew Koller

Andrew Koller, the founder of Kraken's new Layer 2 called Ink, teams up with Hilmar Orth, founder of Gelato, to discuss the surge of companies launching their own chains. They delve into the technical aspects of Layer 2 solutions, exploring who truly needs them and predicting a wave of new developments. The duo emphasizes the importance of decentralization and user autonomy in finance, and they highlight the strategic collaborations that will shape the future of decentralized exchanges and enhance user experiences.

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ANECDOTE

Kraken's On-Chain Journey

Andrew Koller worked at Kraken for six years, focusing on various products like listings and custody.
He initiated "Ink" after a walk in Amsterdam, leading to internal crypto experiments and the decision to launch an L2.

INSIGHT

Why Kraken Needs to Be On-Chain

Kraken's move on-chain aligns with increasing DEX volumes and the OG cypherpunk values of crypto.
It's a natural progression for Kraken to embrace self-sovereignty and permissionless finance.

ANECDOTE

Company-Wide Engagement

Internal "Ink" experiments at Kraken involved lawyers deploying contracts and widespread employee participation.
An internal channel grew to 1,000 members, fostering company-wide engagement and feedback.

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In today's episode we unpack why Kraken is building a Layer 2, Ink. Andrew and Hilmar, dive into why companies are rushing to launch their own chains. We unpack the technical decisions behind launching an L2, and debate who actually needs their own chain, and explore predictions that hundreds of new L2s will launch in the coming months. The conversation really explores if crypto and financial products might depend on custom chain infrastructure. Thanks for tuning in!

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Timestamps:

00:00 intro

04:04 Why an L2?

16:37 Launching an L2

20:50 Why Optimism?

31:00 Value of Service Providers

39:05 Skale Ad

39:45 Supra Ad

40:41 Mantle Ad

41:32 Uniswao Ad

42:04 Ledger Ad

42:47 Building the App Layer

49:34 Who Needs an L2?

59:35 Bitcoin Renaissance?

01:05:07 5 Year Onchain Outlook

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Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.