Ink (@inkonchain), an Ethereum Layer 2 network incubated by Kraken, has recorded $88 billion in perpetual futures volume since January 2026, according to figures shared by Optimism (@Optimism) $OP. The data suggests derivatives trading accounts for most of the network’s on-chain activity.
During the same period, the network recorded $1.19 billion in DEX volume and processed 137 million transactions this year. Based on these figures, perpetual futures volume is roughly 74 times the network’s spot volume.
Perps Dominate Activity on Ink
The difference between derivatives and spot trading is consistent with other recent market data. Citing DefiLlama data as of Sept. 22, 2026, Toobit described Ink as a market with an unusually high share of derivatives activity. It reported that the perpetuals exchange Nado processed $8.67 billion in perpetuals volume over the preceding 30 days. The same report put Ink’s daily DEX volume at about $2.73 million.
The report also said Ink’s total DeFi value locked, at about $211 million, was small compared with larger Layer 2 networks. Its perpetuals turnover, however, compared favourably with that of much larger ecosystems. At the time of measurement, daily perpetuals volume of about $498 million exceeded Base’s reported $330 million.
Ink’s Role in the Optimism Superchain
Ink is built on Optimism’s OP Stack, the technology also used by Base, Unichain and World Chain, Decrypt reported when Kraken unveiled the network. Under the arrangement, Ink shares revenue with the Optimism Collective and participates in Optimism’s governance. Its developers also contribute to core OP Stack development.
Decrypt also reported that the network aimed to offer one-second block times to support time-sensitive activity, including perpetual futures trading, decentralised lending and yield farming. The latest volume figures suggest that perpetual futures have so far become the chain’s primary use.
The volume totals are based on data reported by Optimism and have not been independently audited. Perpetual futures volume measures notional trading activity, not capital held on the network, and therefore does not directly reflect deposits or user balances.
Sources
Toobit: Ink DeFi Expands With Lending and Perpetuals
Decrypt: Crypto Exchange Kraken Launching Ethereum Layer-2 Network Ink
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