Katana, a newly launched DeFi-focused Layer 2 blockchain, has gone live on the mainnet just weeks after its public debut, with over $200 million in pre-deposits. The Katana Foundation is a non-profit organization dedicated to creating the best decentralized finance (DeFi) experience for users across ecosystems, responsible for the development of the chain. Its launch marks one of the highest capitalized debuts among any Layer 2 network in 2024.
Katana is a graduate of Polygon's Agglayer Breakout Program, utilizing a framework that supports the development of high-quality Layer 2 networks. To incentivize liquidity providers, Katana offers rewards on Morpho, a decentralized lending protocol, and Sushi, a decentralized exchange for spot trading.
Unlike traditional models that incentivize participation through the issuance of new tokens, Katana's design integrates revenue from multiple sources: the VaultBridge strategy, which allows users to earn Ethereum-native yields within Katana's ecosystem, the chain-owned liquidity (CoL) reserves, and treasury liquidity supported by AUSD.
Through its launch partner Universal, Katana allows for the direct trading of popular tokens outside the Ethereum Virtual Machine, such as Solana (SOL), Ripple (XRP), and SUI. As part of this initiative, Universal has integrated with Coinbase Prime to provide institutional-grade custody and support for the native minting of assets without the need to pre-provide liquidity on decentralized exchanges (DEXs).
In an interview with Cointelegraph, Marc Boiron, CEO of Polygon Labs, stated that Katana's primary goal is to "address the liquidity needs of the Agglayer ecosystem while meeting user demands for deeper liquidity and higher yields." He added, "Assets are not just sitting idle—they are actively deployed, driving real usage, sequencer fees, and application-level fees, all of which flow back to maintain deeper liquidity."
In line with this, Katana has reserved approximately 15% of its KAT token supply for an upcoming airdrop to POL stakers, including users holding liquid staking derivatives. This move aims to reward early supporters and deepen ties with the broader modular Ethereum ecosystem.
Katana introduces a new benchmark for measuring DeFi capital efficiency: productive total locked value (TVL). Unlike traditional metrics that track idle asset deposits, productive TVL only counts capital actively deployed into yield-generating strategies or core DeFi protocols. Before its mainnet launch, Katana had already accumulated over $200 million in productive TVL.
Katana's coordinated yield mechanism transforms passive capital into a self-sustaining economic engine. VaultBridge will redirect bridged assets such as Ethereum (ETH), USDC, Tether (USDT), and wBTC (WBTC) to off-chain yield-holding positions, primarily on Ethereum. These returns are cycled back into Katana's on-chain DeFi pools, benefiting users who keep their assets liquid. Chain-owned liquidity ensures that sequencer fees are continuously recaptured into the liquidity reserves.
Marc explained to Cointelegraph the benefits of "productive TVL," stating it "provides a clearer picture of the actual situation behind the scenes. It reflects real usage, economic efficiency, and long-term sustainability."
Meanwhile, the yield stablecoin AUSD, developed by Agora, leverages off-chain U.S. Treasury bonds and the repurchase market. This external yield is introduced into Katana's DeFi protocols, further enhancing returns for active users. Overall, these systems support Katana's productive TVL framework.
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Original: “Katana Mainnet Launches, Active Decentralized Finance (DeFi) Deposits Reach $200 Million”
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