Ignition Hackathon Winner, Katana Launches Devnet

The yield generation protocol has also released a tutorial on how to access select features on the devnet.

SOL Covered Call Vault Open

Katana has made its Devnet live on Dec. 3 allows users early access to the mainnet giving a glimpse into the user experience and utility on the platform.

Alongside the announcement of the devnet being live, the protocol has also released a video with a walkthrough and a set of instructions on how to maneuver around the devnet and use the withdraw and deposit feature on the Vault named ‘SOL Covered Call.’ The protocol attempts to simplify yield generation on Solana by making the best strategies in decentralized finance (DeFi) into accessible yield products.

“Katana’s ultimate form is to become an evolving and permissionless protocol, allowing anyone to access, contribute to, and build upon the best yield products in the Solana ecosystem. (..) Katana turns the old model on its head, embracing the unique benefits of Web3 and DeFi to transform the yield generation business for the better,” explained the official Medium blog that introduced the protocol on Nov. 15. 

Source: Katana Devnet

As previously reported by Solana.News, Katana was the grand prize winner of Solana’s Ignition Hackathon, as announced on Oct. 29. The protocol was picked amongst 568 final project submissions and awarded a prize of $75,000 and two tickets to the Solana Conference.

What is Katana?

Katana was created with the objective of building the yield generation primitive for Solana. The protocol has a suite of packaged yield products across the risk spectrum that enables users to passively access the best risk-adjusted yields in the ecosystem. Yields in Katan’s product suite are not dependent on liquidity mining programs but instead on price action that will enable a diversified and more sustainable source of yield.

Find more about Katana here:

Website | Twitter | Documentation | Discord |

Source : solana.news

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