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Katana

17 pools·$38.4M TVL·1 protocol
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About Katana

A DeFi-purposed AggLayer rollup that concentrates liquidity into Morpho, Sushi, and Vertex.

Katana is a DeFi-first Ethereum L2 incubated by Polygon Labs and GSR, built with Polygon CDK and OP Stack (cdk-opgeth) as a graduate of the Agglayer Breakout Program. It is secured by Succinct's SP1 ZK validity proofs and connected to Polygon AggLayer. It intentionally consolidates DeFi into a single canonical set of apps — Morpho for lending, Sushi for spot, Vertex/Katana Perps for perpetuals — rather than hosting duplicated protocols.

  • OP Stack chain built with Polygon CDK; secured by SP1 ZK validity proofs from Succinct and connected via AggLayer.
  • Concentrates DeFi liquidity into a small set of core protocols: Morpho (lending), Sushi (spot DEX), and Vertex (perps, later Katana Perps after the IDEX acquisition).
  • VaultBridge routes bridged ETH, USDC, and WBTC into Morpho vaults on Ethereum, so bridged assets earn yield even before reaching Katana.
  • Sequencer fees, bridge yield, and protocol emissions all recycle into POL-holder rewards and Katana-side liquidity — a 'real yield' flywheel model.
  • Native token is KAT (10B supply); TGE was targeted for on/before end of March 2026, with vKAT vote-escrowed staking granting fee share.

Frequently asked questions

How is Katana related to Polygon?

Katana was incubated by Polygon Labs (with GSR) as the flagship AggLayer chain, meant to concentrate DeFi liquidity that other AggLayer chains can tap. It is built with Polygon CDK but uses cdk-opgeth (an OP Stack variant), making it the first CDK chain to leverage the OP Stack.

What is VaultBridge?

VaultBridge is Katana's canonical bridge that deposits bridged assets (ETH, USDC, WBTC) into Morpho vaults on Ethereum, so those assets earn yield while they sit as backing for their Katana representation. When users on Katana withdraw, the vault position is unwound.

Why only one protocol per DeFi category?

Katana's thesis is that fragmented liquidity across duplicate protocols is a bug, not a feature. By committing to a single lending venue (Morpho), spot DEX (Sushi), and perps venue (Vertex/Katana Perps), it can concentrate liquidity depth and yield rather than spreading it thin. The trade-off is less protocol choice for users.