Katana said it has completed three acquisitions: the Sushi deployment on Katana, renamed Katana Swap; IDEX, renamed Katana Perps; and Vault Bridge, which generates native yield. The L2 network also announced changes to its token economics.
Katana plans to remove vKAT and its voting mechanism. Under the new arrangement, token holders can stake to receive avKAT and participate in revenue distribution. Starting November 17, a portion of revenue from Katana Swap, Katana Perps, Vault Bridge and sequencer fees is set to flow to avKAT. Katana also said it would introduce a programmatic buyback mechanism later and shorten the unstaking cooldown from 45 days to 7 days.
For valuation, the relevant distinction is between activity at those products and revenue actually distributed to avKAT. The announcement identifies the intended revenue sources but does not specify their revenue amounts or the portion allocated to avKAT, so it does not establish a value for the token.
Original report: Odaily, November 12, 2026, 11:49 UTC+8.