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Ink (ETH)

What is Ink?​

Ink is a Layer 2 blockchain developed by Kraken, built on the OP Stack and integrated into the Optimism Superchain. By aligning with the Superchain, Ink enhances interoperability and enables seamless fund transfers across chains, pushing the boundaries of DeFi.

Here are 5 key points about the Ink Blockchain:

  • Ink integrates Kraken's infrastructure and enables users to enjoy a unified experience from converting fiat to the cutting edge of DeFi.

  • Ink aims to scale up DeFi's user base and evolve the quality and range of DeFi products.

  • Ink pursues a user experience that makes your onchain journey a breeze by leveraging aggregation, automation and abstraction.

  • Ink will leverage Kraken's security and crypto expertise to support builders and users alike as they move towards independent financial sovereignty.

  • Ink is dedicated to scaling Ethereum with a powerful L2 that enhances performance and accessibility.

tip

Learn more about Ink by reading the Gem Wallet Learn article:
What Is The Ink Blockchain?

Ink on Gem Wallet​

Gem Wallet has the following features enabled for Ink:

  • Store Ink (ETH) securely.
  • Send and Receive Ink tokens.
  • Swap Ink (ETH) natively.
note

There is no officially announced native token specifically for the Ink Blockchain. Bridged Ethereum or simply Ethereum (ETH) is what Ink uses for network fees.

Ink on GemWallet Ink on GemWallet 2

What are ERC20 tokens on Ink?​

  • ERC20 tokens on the Ink blockchain are tokens that adhere to the ERC20 standard but are deployed and operate within the Ink ecosystem.
  • These tokens retain the same properties and functionalities as ERC20 tokens on Ethereum, thanks to Ink's compatibility with the Ethereum Virtual Machine (EVM).
  • Transactions involving ERC20 tokens on Ink incur significantly lower fees compared to those on the Ethereum network.

How to Get Ink (ETH)?​

Here are some ways to acquire some Ink Ethereum (ETH):

Enable Ink on GemWallet Receive Ink on GemWallet

note
  • Manually enable Ink by tapping on the Manage Token List.
  • Send only Ink (ETH) on the address.

Transaction Fees on Ink​

The fees on Ink are summarized as follows:

  • Compared to Ethereum’s Layer 1, Ink reduces transaction costs by leveraging Layer 2 solutions.

  • Fees are dynamically adjusted based on network congestion to ensure optimal transaction speeds.

  • Ink’s bridging solutions allow for cost-effective transfers between blockchains.

Send Ink on GemWallet Ink Fees on GemWallet

How to Check Ink (ETH) Balance?​

Gem Wallet app connects to the Ink Blockchain to show the ETH balance on your wallet. Tap on the 3 dots at the upper right corner, then tap on View address on Ink Explorer.

View ETH Balance Screen ETH Transaction Screen

tip

Ink Explorer is the default Ink explorer of Gem Wallet. You can manually check balances and transactions by going to Ink Explorer and search for your ETH address.

View Balance on Ink Explorer View Transaction on Ink Explorer

Why Choose Gem Wallet for Ink?​

Gem Wallet is a secure and efficient solution for managing Ink assets. Here’s why it’s the best choice:

EVM Compatibilityn: Gem Wallet fully supports Ink, enabling smooth interaction with dApps and smart contracts.

Self-Custody Security: Users retain full control over their private keys, ensuring secure management of assets.

Multi-Chain Integration: As an open-source, multi-chain wallet, Gem Wallet allows users to manage assets across Ethereum, Ink, and other blockchain ecosystems.

Conclusion

Ink (ETH) is a scalable and efficient blockchain solution designed for DeFi, NFTs, and Web3 applications. With EVM compatibility, Layer 2 scaling, and strong interoperability, Ink is well-positioned to drive the future of blockchain adoption. Whether you’re a developer, investor, or everyday user, Ink provides an optimized and low-cost blockchain experience. Gem Wallet ensures secure and convenient asset management for Ink users, making it an ideal choice for interacting with the Ink ecosystem.