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The exchanges are decentralizing.

Kraken is positioning its upcoming Ethereum layer-2, Ink, as a venue built specifically to onboard new users to the DeFi space. Existing Kraken customers would form the bedrock of that brave new world.

Coinbase’s own blockchain, Base, meanwhile has carved out its existence by encouraging anyone to build anything and everything onchain — “literally anything under the sun,” as Ink founder Andrew Koller put it to Jason Yanowitz on today’s Empire podcast.

Rather than shaping a place to run your ice cream truck or dog walking service onchain, Ink is…

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