Katana hits $430M TVL in 7 days. The Morpho partnership alone added $150M on day one, making it the largest DeFi protocol on any Layer 2 by deposits.

500M $KAT allocated for rewards but only 120M distributed. Pre-deposit holders are already earning through Yearn integration.

Token distribution math: 380M rewards still uncommitted, mainnet TVL growing 710% monthly, tokens locked until Feb 2026. Early depositors are stacking both yield and future governance weight.