Breaking Down the Katana Network Pre-Deposits - Turtle Club and mining changed @katana is a no VC, Polygon Labs and GSR incubated project. It is a project with somewhat like Blast/Manta + Bera + Olympus with VaultBridge, Chain Owned Liquidity (COL), and its own stable, AUSD. Katana is currently proceeding pre-deposit, where you can deposit ETH, USDT, USDC, wBTC, etc. to receive KAT, but is not for a farming, but more like a lottery with one-time given box called Krate, where you can randomly win KAT tokens and NFTs, and most of the mid-to-high-end prizes have already been won. Then there's this tweet ( that says, "Unclaimed prizes will be distributed based on deposit time x amount" Of course, if 5M/10M KAT at 0.00003% / 0.00005% rewards are won, it will be very inefficient, but officially stated that 68M KAT was left as of Jun 5th. I guess that it is why the deposit TVL is currently over $18M. To put it in perspective, the current efficiency rate is 3.78 KAT per $1 deposit. I can't analyze valuation right now due to the lack of information. Add to that the fact that Turtle Club now has a Katana Vault. ( Current TVL $65.9M KAT Reward 100M You can also Deposit ETH, BTC, USDT, USDC here, and the efficiency varies for each asset Deposited assets go to @MorphoLabs Lending to earn lending interest. In the existing Katana Docs, it said that the yield from Morpho goes to the Chain under COL (Chain Owned Liquidity), but it's worth checking if it's something different for Turtle vault. Katana is also on the @KaitoAI leaderboard, and I see that they have also partnered with Morpho and SushiSwap. Maybe these are planning to onboard to the mainnet. It doen't have VC funding, but it feels like they have resources and connections I'm going to put some ETH into Krates vault and approach it with a lottery chance + @. Katana Krates Pagu's Code Turtle Club Pagu's Code Thanks