Polygon-incubated Katana blockchain acquires IDEX, rolls out new perps offering
Katana, the DeFi-focused Ethereum scaling layer incubated by Polygon Labs and GSR, has acquired IDEX, a decentralized exchange launched in 2017, to underpin its new Katana Perps offering.
"When I became CEO, I decided that Katana needed to own more of its stack and the revenues attached to it. IDEX and Katana Perps are the first moves in that direction," Katana CEO Matthew Fisher said in an announcement on Monday. "As always-on markets become the default venue for real-time price discovery and the regulatory environment opens a path for onchain perpetuals, the infrastructure layer needs to be in place now. That is what we are building."
Terms of the deal were not disclosed.
IDEX, built on Ethereum and later expanded to Polygon, was the first decentralized exchange to combine a high-performance matching engine with onchain settlement. Sometimes called a hybrid “DeFi-CeFi” exchange, IDEX combines a traditional centralized-style order book with an automated market maker (AMM) to supply continuous liquidity and faster execution.
The protocol will now serve as a foundational element of Katana Perps, a perpetual futures platform designed to unify spot and derivatives trading within a single onchain environment.
“By integrating spot liquidity, routing, and derivatives into a single stack, the decentralized Katana platform is designed to support continuous markets and more efficient capital deployment for both crypto-native and institutional participants,” the announcement reads.
Katana Perps is backed by market makers GSR, Selini Capital, and Auros at launch.
Katana launched its public mainnet in July after being spun out of Polygon Labs. The chain was built using a custom version of OP Stack, called cdk-opgeth, and is connected to the wider Polygon ecosystem via the AggLayer interoperability solution. It featured previous integrations with decentralized trading platform Sushi and perps exchange Vertex, among other DeFi applications.
IDEX’s native token tumbled last week following news that Binance would delist its spot trading pairs. The token is trading near $0.0045 at the time of writing.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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