2026-01-20 04:31:46

Katana, a DeFi blockchain jointly built by Polygon and GSR, has delivered impressive results in just half a year. The project’s revenue has surpassed $2.8 million, and the total value locked (TVL) in DeFi has reached $388 million, ranking ninth among Layer 2 networks.

Looking at specific operational data, the project’s activity level is quite good: DEX trading volume has accumulated to $1.2 billion, lending protocol lock-up amounts reach $151 million, and liquidity on a certain mainstream DEX platform has reached $100 million. These indicators reflect that Katana’s fundamentals in the DeFi sector are solid, with user and capital participation growing on a normal trajectory.

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BlockBargainHunter

· 7h ago

Half a year to reach the ninth place in Layer2? Still somewhat impressive, but with a TVL of only 388 million, honestly, it's just average in this market. DEX trading volume of 1.2 billion sounds high, but spread out over such a long period, it's still lukewarm. What truly attracts me is that 100 million USD in liquidity, which at least shows real money going in, not just hype. But if you ask me, with so many projects on Polygon, why did Katana manage to break through? Let's wait and see how it performs later. This revenue figure feels a bit inflated; 2.8 million isn't enough to sustain the team.

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FarmHopper

· 16h ago

Half-year TVL of 388 million, this data really has some substance Layer 2 ninth place, to be honest, it's still okay, depends on how sustainable it is DEX trading volume of 1.2 billion is quite competitive, just worried about liquidity exhaustion Polygon ecosystem has new projects again, seems like just re-skinning gameplay I'm not saying this, but this kind of report card is a bit exaggerated, let's wait and see if it can hold up in the later stages Income of 2.8 million? That's all? I thought it would be higher Wow, surprisingly stable in the top ten of L2, I haven't even heard of Katana before

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WalletsWatcher

· 22h ago

Half a year to reach L2 ninth place, the speed is impressive, but with a TVL of only 388 million, I thought it could be more aggressive. --- GSR support definitely makes a difference, but I’m not sure if it can stay stable; worried about losing momentum later. --- DEX trading volume of 1.2 billion sounds lively, but I have no idea how active it really is. --- Locking 151 million? That’s not much in lending protocols, just compare with other projects. --- Liquidity of 100 million, is it enough or are you worried about insufficient depth? --- Honestly, I’m optimistic about Polygon’s breakthroughs in this area, but how far Katana can go depends on future ecosystem development. --- The basic fundamentals are solid and comfortable to hear, but "normal growth" sounds quite ordinary. --- This new project’s data in half a year is indeed good, but don’t become another forgotten DeFi project.

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PermabullPete

· 22h ago

Half a year to break 388 million TVL, this pace is a bit aggressive, but Layer 2 still feels a bit competitive. --- 120 million in trading volume sounds substantial, but I’m not sure about the retention rate. It seems these kinds of projects are often just a flash in the pan. --- Is GSR's endorsement reliable? Or is it just hype? I need to dig into it myself before making any conclusions. --- Oh, so this is Katana? I haven't paid much attention to it, but it seems to have some potential. I'll wait and see before jumping in. --- 2.8 million in revenue... how many people can that support? The profit margin seems a bit tight. --- Liquidity is only 100 million? That’s relatively thin. A big investor could easily cause a slip or crash. --- I can't tell if the fundamentals are stable; I just worry that if Polygon encounters issues someday, all these Layer 2 solutions could go down with it. --- The data looks good, but the key is still the ecosystem development going forward. It might be too early to celebrate.

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HalfPositionRunner

· 22h ago

Half a year to reach Layer 2 ninth place, not bad at this speed Polygon's recent collaboration indeed has some substance TVL of 3.88 billion, not too big, not too small DEX trading volume exceeds 1.2 billion? How did these numbers come about? Half true and half false GSR endorsement still has some use, but whether it can stay stable later remains to be seen Lock-up of 151 million in loan protocols, could it be inflated again? Liquidity of 100 million sounds substantial, but the depth is hard to judge Rushing so quickly makes me a bit anxious, will there be a sudden crash later? Good performance, but it depends on whether it can sustain in the long run

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GasOptimizer

· 22h ago

A revenue of $2.8 million sounds impressive, but from another perspective... TVL is only 388 million, Layer 2 ranks ninth, and this capital efficiency definitely raises questions. A trading volume of 1.2 billion sounds impressive, but liquidity depth matters. With 100 million in liquidity, it still lags behind other top players. The lending protocol locks 151 million. How is the interest rate model set up? Has the worst-case risk exposure been considered? Half a year is indeed not slow, but in this market track, it's hard to say that having a story means there is a story. The story behind the data is even more important.

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AirdropDreamer

· 22h ago

Looking at these data, half a year revenue exceeds 2.8 million, TVL nearly 400 million... However, is the ninth place in L2 still a bit虚 (vague/uncertain)? It depends on whether it can stay stable in the future. Polygon+GSR's joint effort确实有点东西 (really has some potential), but I'm worried it might just be another fleeting project. 1.2 billion in trading volume sounds impressive, but how many people are actually participating... I usually watch and wait for these DeFi newcomers; I wait until they stabilize before taking action. Not to boast or criticize, the基本盘 (fundamentals) are stable, but whether it can break out still depends on运营 (operations). It seems GSR's support is still useful; otherwise, it would have been孤寂 (lonely) long ago. TVL持续增长 (continuous growth) is the key; now the numbers look good, but that’s not enough. A scale of 388 million isn't particularly top in L2; let's see when it breaks 1 billion. This is just a gamble on whether it can breakout later; right now, it looks quite平稳 (steady).

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CryptoMom

· 22h ago

In half a year, reaching L2 ninth place? That's a decent speed, but with a TVL of only 388 million, it still feels like small potatoes. --- Polygon + GSR teaming up looks promising, but I don't know how long it can last. --- A $1.2 billion trading volume sounds impressive, but when divided daily, it's not much... --- Loan agreements totaling 151 million, I think this number might be inflated. Is anyone actually using it? --- With so many projects on L2, why does Katana stay firmly at ninth? Could it just be good-looking data? --- Is the basic infrastructure stable? I feel like these kinds of projects always claim that, but end up fading away. --- $2.8 million in revenue is quite a lot, but the ratio to locked-up tokens feels a bit low. How does the project team make money? --- Honestly, I usually watch these joint projects from a distance. I'll see if they're still alive after the hype period passes. --- A liquidity scale of $100 million is indeed impressive, at least indicating there is trading demand. --- Three months or half a year ago, it was a different story. Wait until next year to see how it turns out.

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