Katana, a brand new decentralized finance (DeFi)-focused blockchain incubated by trade heavyweights Polygon and GSR, shared on Wednesday that its non-public mainnet has gone reside.
The brand new layer-2 blockchain will unify “all liquidity in a set of protocols and accumulate yield from all potential sources,” the staff shared in a press launch despatched to CoinDesk. Katana’s aim is “to energy a self-sustaining DeFi engine for long-term development,” it stated.
Marc Boiron, the CEO of Polygon Labs, advised CoinDesk that Katana emerged to handle DeFi fragmentation, the place digital property are distributed throughout varied apps and ecosystems, ensuring varieties of investing cumbersome.
Katana was constructed utilizing AggLayer — Polygon’s platform for constructing interoperable blockchains. “One of many issues that we wish is an excellent deep liquidity hub on the AggLayer, so that each chain can faucet into that,” Boiron stated. “While you look throughout every thing in crypto, what you notice is that there is really no chain that is constructed very effectively for really having deep liquidity.”
Katana goals to enhance blockchain liquidity — together with lending, buying and selling, and yield bearing methods — by integrating with common apps like Sushi, a serious decentralized change, and Morpho, a preferred decentralized lending ecosystem.
Polygon Labs, the staff behind the layer-2 community, helped design the chain, whereas GSR, the crypto market-maker, suggested on the consumer expertise and is lending liquidity to assist get the platform off the bottom. “We’re offering the on-chain liquidity — or ‘grease’ — to be sure that individuals can really use the chain on day one,” stated Jakob Palmstierna, President at GSR.
At the moment, Katana is open to a restricted group of customers. It features a pre-deposit section that enables customers to park their ETH, USDC, USDT, and WBTC for an opportunity to win KAT tokens, the community’s new governance and utility token.
Although exercise is proscribed at this non-public stage, early deposits are being incentivized via a lootbox-style reward system. Katana’s public mainnet is anticipated to reach on the finish of June.
Learn extra: Polygon Begins Aggregator Program, Profitable Tasks Will Airdrop As much as 15% Native Token to POL Stakers
