Kraken Engages Community to Name Ethereum Layer 2 Ink Network Mascot via JokeRace

Kraken, a leading cryptocurrency exchange, has launched a community contest to name the mascot for its Ethereum Layer 2 network, Ink. The initiative, hosted on the JokeRace platform, invites participants to submit and vote on name ideas while earning rewards. This move highlights Kraken's dedication to fostering community involvement in its ecosystem. The Ink network, built using the OP Stack, aims to enhance Ethereum's scalability and efficiency. By leveraging blockchain technology, Kraken is not only engaging its user base but also promoting decentralized participation in its projects. The contest underscores the growing trend of community-driven development in the crypto space, where users play an active role in shaping the future of digital assets. As of July 2025, this initiative reflects Kraken's bullish outlook on Ethereum and its Layer 2 solutions, further solidifying its position as a key player in the blockchain industry.

Kraken Launches Community Contest to Name Ink Network Mascot via JokeRace Platform

Kraken is leveraging blockchain technology to engage its community in naming the mascot for its ethereum Layer 2 network, Ink. The contest, hosted on JokeRace, allows participants to submit and vote on name ideas while earning rewards. This initiative underscores Kraken's commitment to fostering community involvement in its ecosystem.

The Ink network, built using the OP Stack, aims to enhance Ethereum's scalability with lower transaction fees. The purple cartoon monster mascot symbolizes the network's identity, and Kraken is turning to its user base to define its character. JokeRace's onchain voting mechanism ensures transparency and decentralized participation.

By integrating gamification and rewards, Kraken is setting a precedent for how crypto projects can cultivate loyalty and creativity among users. The move aligns with broader industry trends where Layer 2 solutions prioritize both technical innovation and community-driven branding.

Tom Lee Highlights Ethereum's Undervalued Potential

Fundstrat's Tom Lee asserts Ethereum's current price of $2,525 fails to reflect its ecosystem value, suggesting Layer-1 blockchains like ETH deserve valuations incorporating their foundational role in decentralized applications. His Coinage podcast remarks draw parallels between Ethereum's infrastructure and traditional tech company multiples.

Circle's successful IPO underscores Ethereum's real-world utility, with its USDC and EURC stablecoins maintaining dominant positions on the network. Lee proposes reassessing ETH's worth through EBITDA-style metrics of major crypto enterprises, implying substantial upside potential.