Polygon Labs has introduced a new blockchain called Katana, which was developed in collaboration with the crypto trading firm GSR. With over $200 million in deposits secured before launch, traders are now speculating that KAT, the native token, could soon be among the new Binance listing. But what does Katana offer that sets it apart from other projects?
Katana is designed to solve two major problems in decentralized finance: the inefficient distribution of tokens across multiple apps and unsustainable yields caused by inflationary rewards. To address this, Katana focuses on a curated ecosystem, selecting only a few high-quality financial applications to operate on the chain.
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These include a modified version of Sushi (a decentralized exchange), Morpho (a major lending protocol), a memecoin launchpad, and a decentralized futures platform.
Sandeep Nailwal, co-founder of Polygon, says the new chain will help bring DeFi into a more stable era. By concentrating liquidity and linking chains through Vault Bridge, Katana allows smaller chains to tap into deeper liquidity without fragmenting user assets.
https://twitter.com/sandeepnailwal/status/1939802462535450778?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow
Why could Katana’s early success place KAT among new Binance listings to watch? Since opening deposits in late May, Katana has attracted over $240 million in “productive” assets. This includes stablecoins, wrapped Bitcoin (LBTC), yield-bearing Ether (weETH), and AUSD, a new stablecoin by Agora.
The significant amount of assets deposited even before Katana’s full public launch reflects confidence in the model. Yield opportunities are pooled into a self-sustaining engine instead of being diluted across dozens of protocols. This is meant to make DeFi on Katana more predictable and profitable for users over the long term.
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The KAT token, which powers Katana’s incentive system, may be on track for broader exposure. With 1.5 billion KAT tokens (15% of the total supply) set to be airdropped to POL stakers and strong user engagement from launch, the token has caught the attention of speculators looking for new Binance listing candidates.
Polygon’s past success in getting projects listed, including the long-standing Polygon POS chain, gives Katana a solid pipeline for exchange visibility. While no official listing has been announced yet, market watchers are keeping an eye on KAT as Binance continues expanding its listings in the Layer 2 and DeFi sectors.
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The post Polygon’s New Blockchain Explained: Is KATANA Crypto Next Binance Listing? appeared first on 99Bitcoins.
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