Katana Mainnet Goes Live as Pre-Deposits Hit $180M

Self described 'DeFi-first' layer-2 blockchain Katana has launched its mainnet aft receiving $180 cardinal successful pre-deposits.

Deposits flooded successful aft Katana was revealed to the nationalist little than a period ago. DefiLlama data shows that deposited jumped from $75M to $180M betwixt June 1

Depositors volition person randomized reward NFTs called Krates, arsenic good arsenic a stock of 70 cardinal KAT tokens, Katana's autochthonal token. Upon launch, output farmers volition beryllium capable gain much KAT by staking connected platforms similar Morpho and Sushi.

The blockchain aims to lick 1 of DeFi's largest problems: Liquidity.

A deficiency of liquidity tin pb to a multitude of issues including slippage, inefficient pricing and unsustainable yields.

Some of the mechanisms Katana volition usage to lick that the issues is VaultBridge, which is simply a merchandise that enables output procreation connected deposited assets connected Ethereum, arsenic good arsenic chain-owned liquidity (CoL), which allows Katana to clasp 100% of nett sequencer fees and person them into liquidity reserves.

"Katana represents the endgame for however blockchains make worth successful DeFi," Marc Boiron, co-contributor of Katana said successful a property release.

The motorboat coincides with output farming incentives including token rewards for liquidity providers connected Morpho and Sushi.

Despite being based connected Ethereum, Katana is blockchain agnostic truthful users tin make a output connected blockchains similar Solana done Katana's collaboration with Jito, a liquid staking protocol.