Katana was launched in June 2025, aiming to closely connect users, applications, and networks through an efficient DeFi flywheel mechanism. By centralizing liquidity in a set of core applications and assets, Katana deepens the liquidity of DeFi. This avoids fragmentation caused by competition among DeFi primitives and improves the experience for both retail and institutional users. Katana's treasury bridge utilizes bridging assets to generate revenue and distribute it to ecosystem participants. The staked version of KAT, vKAT, serves as the core of the flywheel, responsible for guiding the release of revenue and earning fees from ecosystem applications....