The globally renowned crypto exchange, Kraken, has announced an enticing opportunity for its users. It is inviting them to name its new mascot for its Ethereum Layer 2 network, Ink. The endeavor is being executed in collaboration with Jokerace, a blockchain-based platform popular for hosting contests, as per a recent announcement.
Through a rather intriguing message on their platform, the company introduced a purple, spiky, cartoon monster that is set to represent the Optimism-based chain that Kraken is actively developing. The message read, “He’s lost his way, faced too much limelight, and now he’s spiraling down, all because he lacks a name… You can give him one!”
Jokerace was founded in 2022 by David Phelps and Siobhán McCaffery as a platform to host no-code, onchain contests across more than 90 EVM-compatible blockchains. It allows users to vote on a variety of matters, including governance decisions, hackathon results, grant funding, and other community events.
Notably, the platform boasts a sybil-resistant voting mechanism that requires users to pay per vote to avoid spam. It also has the ability to initiate onchain actions through smart contracts, such as token transfers or DAO proposals, depending on contest results. Jokerace is a trusted platform used by Polygon, Farcaster, and The Block.
David Phelps told The Block, “We offer two types of contests: enter-and-earn, where you profit from a successful entry, and vote-and-earn, where you earn by voting on the winners. This creates a persuasion market or vibe market where you get rewarded for curating the internet.”
Back in July 2024, Maven 11 led a $3 million funding round for Jokerace, which was aimed at expanding the startup’s marketing and business development operations. Jokerace has over 100 angel investors backing it currently.
Ink is a Layer 2 network developed by Kraken using the OP Stack. The recently formed Ink Foundation plans to launch a native INK token in 2025 to incentivize ecosystem growth and liquidity. The supply of INK tokens has been capped at 1 billion.
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