As the INK Token readies its debut on Kraken’s Ethereum Layer-2 and Solaxy’s $53.8 million presale wraps up on Solana’s first Layer-2, investors are weighing the next big bet in blockchain scalability. Which L2 project is best positioned to lead?
The Ink Foundation, the governing body behind Kraken’s Layer-2 blockchain Ink, has announced the imminent launch of the INK Token. While still early in its lifecycle, this marks a pivotal step for the Optimism-powered network and may signal the arrival of a new wave of DeFi innovation on Ethereum.
The Ink Network itself launched in October 2024 and is built using Optimism’s OP Stack, aligning it closely with the broader Optimism Superchain. The INK Token will be distributed through an initial airdrop, specifically targeting early adopters of Ink’s upcoming liquidity protocol powered by Aave.
Although the INK Token won’t carry governance rights – those remain with Optimism – it is positioned as a foundational asset for facilitating lending, trading, and broader on-chain coordination. The Ink Foundation stated the token will be essential to bootstrapping DeFi infrastructure, suggesting a focus on functionality over political control.
The total supply will be capped at 1 billion INK Tokens, a choice that reflects growing industry preference for fixed supply models in DeFi ecosystems. However, questions remain about the timeline of the token launch and who exactly makes up the Ink Foundation’s leadership. Kraken itself is no longer officially tied to the INK Token’s distribution, but its fingerprints are present in the network's genesis.
Regardless of these open questions, INK’s launch sets the stage for an Ethereum-based Layer-2 contender to challenge established ecosystems. However, it’s not launching into a vacuum – on another front, Solaxy is already galvanizing the market.
Solaxy Builds Momentum as Solana's First Layer-2 Blockchain
While INK Token prepares for its Ethereum debut, Solaxy is blazing a parallel trail on Solana. With just six days left before its token hits exchanges, the presale for Solaxy ($SOLX) has surged to a staggering $54.1 million, making it the most successful Solana-based presale to date.
Solaxy is developing the first-ever Layer 2 solution for the Solana network, a critical infrastructure upgrade that aims to enhance transaction throughput and network reliability. Using off-chain computation and transaction bundling, Solaxy targets speeds of up to 10,000 transactions per second – eclipsing Solana’s current Layer-1 average of 6,500 TPS.
That technical edge is not just theoretical; it is practical. The Solaxy team has already launched a live testnet, deployed a functioning Solana-to-Ethereum bridge, and detailed a tightly packed roadmap through July.
Major milestones include the June 23 token claim and the July 7 deployment of the full Solaxy mainnet. The network’s decentralised exchange, Neptoon, follows a week later, while the much-anticipated Igniter Protocol is due to launch on July 21. Igniter is being billed as a faster, cheaper alternative to Solana’s Pump.fun, designed to help users launch meme coins with minimal friction.
Ethereum vs. Solana: Different Chains, Same Problem
Despite their ideological differences, both Ethereum and Solana share a standard technical limitation: scalability. Each has faced performance bottlenecks in recent years as user activity has exploded.
The Ink Network and Solaxy each propose a Layer-2 solution to that problem, albeit on different chains and with differing architectures. Ink benefits from the security and decentralisation of the Ethereum mainnet, while Solaxy leverages Solana’s inherent speed and emerging developer base to build a new scalability layer from scratch.
One of the more striking distinctions lies in governance. Ink’s use of the OP Stack means governance flows through the Optimism Collective. At the same time, Solaxy appears to be building a more vertically integrated system, complete with its own DEX and token launchpad, as well as direct incentives for stakers and early backers.
Where INK Token aims to become the lubricant for capital coordination in the Ethereum Layer-2 space, SOLX is positioning itself as a self-contained ecosystem upgrade for Solana.
Investor Focus: What Happens After the Launch?
With both tokens in the spotlight, investor attention is turning to what happens next. In Ink’s case, the uncertainty surrounding launch timing and tokenomics leaves room for speculation. Still, its association with Kraken and integration into Optimism’s Superchain ensures credibility, and the Aave-powered liquidity protocol should provide immediate utility once live.
For Solaxy, the market signals are more immediate and more frenzied. With a fixed presale price of $0.001766 and exchange listings just days away, momentum is building rapidly. Analysts from 99Bitcoins and other communities have suggested that $SOLX could post outsized gains, citing both its utility and narrative alignment with Solana’s ongoing scalability needs.
The timing is critical. With over 103 million weekly active users on Solana and persistent congestion issues, the demand for a Layer-2 solution like Solaxy is real and urgent. If the network launches as scheduled and performs as promised, it could rapidly absorb a significant portion of Layer-1 transaction volume.
A Tale of Two Tokens: INK and SOLX
In evaluating which Layer-2 will lead the next wave, it’s less a question of Ethereum vs. Solana and more about who delivers value first.
INK Token represents a methodical expansion of Ethereum’s DeFi landscape through a trusted network and familiar stack. Its utility-driven model, backed by Aave and aligned with Optimism’s governance, gives it the institutional polish and composability Ethereum-native developers expect.
SOLX, on the other hand, is disruptive in its urgency. The team is targeting retail-first features, faster execution, and meme coin virality – not just scalability, but cultural penetration.
TRACK SOLAXY’S UPCOMING LAUNCH
Both networks aim to relieve their parent chains of performance stress. Both are building toward a future of cheaper, faster, and more democratic finance, but only one is launching with a full-stack ecosystem and a record-setting presale under its belt.
Layer-2s Are Leading Crypto’s Next Leap
Whether through the methodical rollouts of INK on Ethereum or the high-velocity scaling of Solaxy on Solana, the rise of Layer-2s is reshaping the structure of the blockchain industry.
As the next six weeks unfold, markets will answer the question this headline poses: which Layer-2 will lead?
INK Token brings composability, security, and institutional clout. SOLX offers scalability, momentum, and meme-powered mass adoption.
For now, the battle lines are drawn, and the real contest is just beginning.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are volatile – always do your research before making investment decisions.
