Polygon has just announced their official release of Katana, a new Layer 2 blockchain intended to improve decentralized finance (DeFi) experiences. Katana hit more than $240 million of “productive” deposited funds in just three weeks after its launch. This DeFi-first chain would like to be where high yield and deep liquidity flows, and solves some fragmentation across the DeFi landscape.
Katana connects other leading DeFi projects, like Morpho, Sushi, and Vertex — connecting their networks to the new chain. It backs creative tokens including Agora’s AUSD and EtherFi’s weETH. Katana will seek to provide liquidity for the whole Agglayer ecosystem.
The platform quickly grew to more than $240 million in productive pre-deposited assets. This explosive expansion is a testament to the overwhelming need for Katana’s differentiated model within DeFi.
To provide additional motivation to participate and grow the network over the long term, Katana will airdrop 1.5 billion KAT tokens to POL holders. The airdropped tokens account for nearly 15% of Katana’s total supply. Through this initiative, we hope to incentivize our community members and cultivate an enthusiastic ecosystem of builders, investors, and creatives around our new public chain.
Katana is designed to address one of DeFi’s major issues: fragmentation. Katana synchronizes your apps, users, and chain revenue from day one. This use case signals a much-needed paradigm shift within the DeFi ecosystem.
Morpho, Sushi, and Vertex have all already integrated their networks with Katana, showing robust support from established DeFi players. This combination of large integrations of projects has the potential to make Katana a go to hub for DeFi activity.
