Polygon, GSR Release Katana Network Tackle DeFi Fragmentation
Katana aims to improve blockchain liquidity — including lending, trading, and yield bearing strategies — by integrating with popular apps like Sushi and Morpho.
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Polygon
Katana aims to improve blockchain liquidity — including lending, trading, and yield bearing strategies — by integrating with popular apps like Sushi and Morpho.
Polygon, initially known as Matic, was founded by Jaynti Kanani, Sandeep Nailwal, Mihailo Bjelic, and Anurag Arjun.
The funding round was led by a16z crypto, 1kx and Hack VC.
The plan uses Morpho Labs’ vaults to manage USDC and USDT, targeting a conservative 7% annual return using various strategies.
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Far from making zero-knowledge rollups obsolete, the Beam Chain would make them work better, says Polygon. zkSync builder Matter Labs is also bullish.
Newton will allow for wallet solutions to plug into the AggLayer, which is a Polygon-backed effort to connect affiliated chains and allow tokens to freely move between them. Magic Labs claims its the first dedicated network for wallet solutions and chain unification.
Blockchains are stuck in silos, fragmenting liquidity and making for a clunky user experience. It’s time to tear down the walls.
One of the major breakout successes this year for the team behind layer-2 blockchain Polygon is Polymarket. But according to data, Polymarket has only brought in about $27,000 of transaction fees for Polygon PoS in 2024.