Katana, a newly unveiled blockchain focused on decentralized finance (DeFi) and created through the collaboration of the renowned Polygon and GSR, has officially launched its private mainnet.
The blockchain aims to streamline liquidity by integrating various financial processes into a unified protocol, enhancing investing efficiency.
“The objective of Katana is to unify all liquidity in a set of protocols and maximize yield from every conceivable source,” noted the project team. “We aspire to cultivate a self-sustaining DeFi ecosystem for sustainable growth.”
According to Polygon Labs’ CEO, Marc Boiron, the initiative arose as a solution to the current fragmentation in DeFi: when digital assets are spread across multiple platforms, usage becomes cumbersome.
Katana is built upon AggLayer, Polygon’s framework for interoperable blockchains. Boiron stated, “We aim to create a liquidity hub on AggLayer so every chain can access it. In the crypto landscape, there isn’t a single chain that has been designed with deep liquidity in mind.”
The network intends to bolster blockchain liquidity across lending, trading, and yield-bearing strategies by connecting with well-known platforms like Sushi and Morpho, which are pivotal in the DeFi ecosystem.
Polygon Labs played a crucial role in the blockchain’s development, whereas GSR contributed expertise in user experience design and liquidity provision to facilitate the platform’s launch. Jakob Palmstierna, GSR’s President, remarked, “We are injecting on-chain liquidity to ensure usability from day one.”
Currently, Katana is accessible to a select group of users during a pre-deposit phase, which allows them to stake ETH, USDC, USDT, and WBTC for opportunities to earn KAT tokens, the new governance and utility token of the network.
While the activity at this initial stage is limited, users are motivated with rewards through a lootbox system. The public mainnet of Katana is projected to launch by the end of June.
Read more: Polygon Initiates Aggregator Program, Airdropping Tokens to Successful Projects
