Kraken gets 25m OP token grant from Optimism Foundation

Kraken's decision to build its layer-2 network Ink on Optimism's OP Stack came with an undisclosed grant of 25 million OP tokens from the Optimism Foundation, which CoinDesk reports was worth roughly $100 million when the deal was struck earlier this year and is now valued at about $42.5 million. Both Kraken and the Optimism Foundation confirmed the grant to CoinDesk, and the foundation confirmed the token number but declined further comment. Ryan Wyatt, the foundation's chief growth officer, said in posts on X that 5 million OP would fund engineering for Ink and 20 million would reward transaction milestones.