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 data reveals 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 likely be ready earn extra KAT by staking on platforms like Morpho and Sushi.
The blockchain goals to unravel considered one of DeFi’s largest issues: Liquidity.
An absence of liquidity can result in a mess of points together with slippage, inefficient pricing and unsustainable yields.
A few of the mechanisms Katana will use to unravel that the problems is VaultBridge, which is a product that allows yield technology on deposited property 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 mentioned 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 primarily based on Ethereum, Katana is blockchain agnostic so customers can generate a yield on blockchains like Solana by way of Katana’s collaboration with Jito, a liquid staking protocol.