Polygon-incubated DeFi chain Katana has acquired decentralised exchange IDEX to launch Katana Perps, a native perpetual futures platform integrated into its ecosystem.
The deal folds nearly a decade of IDEX exchange technology into Katana’s infrastructure, positioning the platform to compete in the growing onchain derivatives market.
“The goal is to own more of the trading stack and the revenue that comes with it,”
Said Katana CEO Matthew Fisher.
Katana Perps will combine spot and derivatives trading within a single interface, using IDEX’s hybrid order book and AMM model to deliver CEX-like performance with onchain settlement.
The platform launches with liquidity support from market makers including GSR, Selini Capital, and Auros, aiming to attract institutional trading flow.
The move reflects a broader trend as DeFi platforms race to capture derivatives volume, competing with established players such as Hyperliquid and dYdX.
Katana’s strategy centres on building a full-stack DeFi ecosystem, integrating spot trading, lending, token launches, and perpetuals into a unified onchain trading environment.
At the time of reporting, Hyperliquid price was $37.36.