Katana Perps is LIVE
Season 1: The Forge is live at perps.katana.network
Over the last year, one thing has become obvious across DeFi: general-purpose chains are starting to look the same. The chains that stand out are those with apps and ecosystems tied to real economic activity.
If blockchains want a real moat, they have to own the economic engines that run on top. For DeFi chains, that means owning the venues where traders actually show up, take risks, and pay fees.
Katana was built as a DeFi-first chain around that idea. Now we are taking the next step.
Today, Katana is announcing the acquisition of IDEX and the launch of Katana Perps, our native perps DEX. Under Matthew Fisher’s leadership as CEO, Katana is expanding the parts of the stack it owns and operates outright. That now includes one of the most economically important categories in crypto.
This move comes as regulators in the U.S. signal a path toward allowing crypto perpetual futures, marking a potential inflection point for onchain derivatives.*
Katana Perps is live at perps.katana.network, and over time will be integrated into the Katana App as a core part of the broader Katana flywheel.
From IDEX to Katana Perps
To understand why this matters, it helps to know who is coming to Katana.
The team behind IDEX has been building noncustodial trading infrastructure since the earliest days of DeFi. IDEX was the No. 1 DEX by volume from late 2017 through 2019, and the team has spent the better part of a decade refining matching engines, execution quality, and trading infrastructure for serious traders.
That means Katana Perps reflects years of iteration by one of DeFi’s most experienced exchange teams: an orderbook-based venue with low-latency execution, advanced order controls, and mature API support for terminals, algorithmic traders, and third-party bots.
Katana Perps also launches with institutional market makers from some of the biggest names in the space like GSR, Selini Capital, and Auros.
That product and institutional credibility matters, but the bigger point is structural alignment.
Perpetual futures are one of the most economically important categories in onchain trading. Bringing a native perps venue under the Katana brand does more than add another app, it brings one of the network’s biggest activity centers directly into Katana’s broader liquidity, incentive, and coordination system.
That creates tighter links to:
Vault Bridge revenue, through vbUSDC as the primary margin asset
chain-owned liquidity, as more trading activity and sequencer fees strengthen Katana’s core markets
the vKAT Armory, by adding a major new venue for incentive coordination and voter rewards
KAT utility and value accrual, by bringing perps activity closer to the center of the system
Most perps trading venues start as standalone applications and try to bolt a token story on afterwards. Katana Perps starts as part of the chain’s broader economic design, structurally tied to Katana’s token, incentives, and liquidity system from day one.
Why Katana needs a native perp DEX
Katana has strong views on how DeFi should be structured:
Liquidity should not be scattered across multiple venues that serve the same use case.
Yield needs to come from more than just token emissions to be sustainable.
The token is a product and should have real utility and value accrual.
Users deserve better.
Rather than just using KAT token emissions to drive growth, yield on Katana is sourced from real economic activity and routed back into the system from Vault Bridge, AUSD, sequencer fees, and chain-owned liquidity.
KAT sits at the center of this design as a coordination tool, and vKAT is how that coordination becomes active. KAT is not the gas token, and it does not govern low-level chain upgrades. Instead, it is the mechanism through which liquidity, incentives, and activity are coordinated across Katana, effectively turning vKAT into a chain-level DeFi index tied to activity on the chain.
The Katana Perps points program
Katana Perps is also launching alongside Season 1 of the Katana Perps Points Program, which is designed to reward organic trading, sustained participation, liquidity contribution, and referral-driven growth.
For full details on the Katana Perps Points Program, click here: https://katana.network/blog/katana-perps-points-program-season-1-the-forge
Looking ahead
The story here is bigger than one product.
The DeFi chains that matter will own the venues and primitives that generate the most activity and route that value back into the ecosystem in a durable way.
Katana Perps is a major step in that direction for Katana. It brings a battle-tested exchange team into the center of the chain and turns perpetuals into a native part of the Katana economy.
Sharpen your strategy. Bring your flow. And help us turn Katana into the place where deep liquidity, high yield, and serious trading finally live on the same chain.
Join the Katana community
Stay informed, engaged, and connected:
Are you a DeFi builder? Join us
The future of perps has a new home on Katana.
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Program Details & Disclaimer: This post is not investment, legal or tax advice and users are encouraged to consult personal investment, legal and tax advisors. This post and its contents, including the above-referenced statements related to any token, rewards, distributions, or program (“Program”), may be modified or terminated at any time without notice, and is subject to the Katana Foundation terms and conditions (here https://app.katana.network/legal/terms-and-conditions). Governance of the program, interpretation of terms, and application of the Program to individuals is subject to the interpretation and sole discretion of the Katana Foundation. Participation in crypto and emerging blockchain technology involves risk, and by participating in the Program you agree not to hold Katana Foundation liable for any losses or damages that you may incur for any reason including without limitation technology errors, investment value declines, or Program administration.
*Katana Perps is not available to persons located in or residents of the United States. Access to Katana Perps may be restricted in other jurisdictions. It is your responsibility to ensure that your use of Katana Perps complies with applicable laws in your jurisdiction.
