Katana hits $430M TVL in 7 days. Morpho partnership alone added $150M on day one, making it largest DeFi protocol on any L2 by deposits500M $KAT allocated for rewards but only 120M distributed. Pre-deposit holders already earning through Yearn integrationToken distribution math: 380M rewards still uncommitted, mainnet TVL growing 710% monthly, tokens locked until Feb 2026. Early depositors stacking both yield and future governance weight ...

We already know the best token distribution mechanism - it’s called an initial coin offering (ICO) and they were amazing.Regulators killed them, and then we got 5 years of VC vapor coins at ridiculous multiples by the time they got to public markets and that is why alts all look like the plague todayAnd then we came up with bonding curve token launchers…which were a fun game until tooling developed to the point that it was all snipers and bots and now everyone is like hmm how do we do fair coin launches?And ...