Bear Market Finance Diary Quick update: Two days ago, I participated in Katana's on-chain earning event on OKX. This project is an L2 focused on DeFi-first, incubated by Polygon Labs and GSR. It aims to address two major pain points in the Ethereum ecosystem: fragmented liquidity and unsustainable yields. This time, there are earning events on both OKX and Binance Wallet, with 65 million and 50 million tokens allocated respectively. The funds deposited on OKX are placed in the Morpho protocol at the backend, which seems fairly secure. Plus, no gas fees are required—likely subsidized by OKX. Using a CEX entry point to participate in DeFi activities lowers the barrier to entry. The initial allocation filled up quickly, but they later added more, so I managed to get in. Just now, I saw they added another 20 million USDT quota That said, with KAT's price continuously dropping and OKX repeatedly increasing the deposit cap, the yield is not looking great anymore… Currently, it's hard to calculate the actual APY (probably under 10%). I'll update the numbers in the comments after the event ends.