TVL on Kraken’s L2 Ink Surges 3,800% in Less Than Two Weeks

Ink, a Layer 2 (L2) blockchain launched by U.S. crypto exchange Kraken in December 2024, saw its total value locked (TVL) surge by nearly 3,800% in less than two weeks, climbing from $6.42 million on Oct. 15 to nearly $249 million as of press time.

However, data from DefiLlama shows that out of 30 protocols deployed on Ink, more than 97% of this sharp increase came from a single product, Tydro, a non-custodial lending protocol built by the Ink Foundation, as a white label instance of open-source DeFi giant Aave.

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