Self described ‘DeFi-first’ layer-2 blockchain Katana has launched its mainnet after receiving $180 million in pre-deposits.
Deposits flooded in after Katana was revealed to the general public lower than a month in the past. DefiLlama information exhibits that deposited jumped from $75M to $180M between June 1
Depositors will obtain randomized reward NFTs known as Krates, in addition to a share of 70 million KAT tokens, Katana’s native token. Upon launch, yield farmers will probably be ready earn extra KAT by staking on platforms like Morpho and Sushi.
The blockchain goals to resolve one in all DeFi’s largest issues: Liquidity.
A scarcity of liquidity can result in a mess of points together with slippage, inefficient pricing and unsustainable yields.
Among the mechanisms Katana will use to resolve that the problems is VaultBridge, which is a product that permits yield era on deposited belongings on Ethereum, in addition to chain-owned liquidity (CoL), which permits Katana to retain 100% of web sequencer charges and convert them into liquidity reserves.
“Katana represents the endgame for a way blockchains create worth in DeFi,” Marc Boiron, co-contributor of Katana stated in a press launch.
The launch coincides with yield farming incentives together with token rewards for liquidity suppliers on Morpho and Sushi.
Regardless of being based mostly on Ethereum, Katana is blockchain agnostic so customers can generate a yield on blockchains like Solana by means of Katana’s collaboration with Jito, a liquid staking protocol.
