Katana completes three acquisitions and adjusts its token ec
On November 12, the L2 network Katana announced the completion of three acquisitions — the Sushi deployment, IDEX, and Vault Bridge — and adjusted its token economics model: vKAT and the voting mechanism will be cancelled, and staking KAT will earn avKAT. Starting November 17, a portion of the revenue from Katana Swap, Katana Perps, Vault Bridge, and Sequencer fees will flow to avKAT stakers, and the unstaking cooldown period will be shortened from 45 days to 7 days.
Event Timeline
- [11-12 03:49] Katana completes three acquisitions and adjusts token economics, avKAT to receive protocol revenue (Odaily 星球日报)
- [11-12 05:16] Katana completes three acquisitions and adjusts token economics model, part of fees to flow to avKAT stakers (PANews)
Background and Impact
On November 12, 2026, the L2 network Katana posted an announcement that it had completed three acquisitions: the Sushi deployment on Katana (now renamed Katana Swap), IDEX (now renamed Katana Perps), and Vault Bridge (native yield generation). Both sources noted that Katana simultaneously adjusted its token economics model: the existing vKAT and voting mechanism will be cancelled, and holders can stake tokens to obtain avKAT and participate in revenue distribution.
Regarding fees and the staking mechanism, according to Odaily 星球日报 and PANews, starting November 17, a portion of the revenue from Katana Swap, Katana Perps, Vault Bridge, and Sequencer fees will flow to avKAT; the unstaking cooldown period will be shortened from 45 days to 7 days. PANews also mentioned that former vKAT holders can convert to avKAT with one click starting November 17. The two sources differ in their descriptions of the buyback arrangement: Odaily said "a programmatic buyback mechanism will also be launched subsequently," without specifying the source or destination of funds; PANews said protocol fees will be used for programmatic buybacks of KAT on the open market, and that all repurchased KAT will be distributed to avKAT stakers. Neither disclosed the buyback size, launch timing, or fee-sharing ratio.
Structurally, the three acquisitions bring Sushi's deployment on Katana, the perpetual futures engine IDEX, and Vault Bridge into Katana's own system, and the aforementioned fee sources rely precisely on these three native applications, meaning the transmission path between protocol revenue and stakers is more direct. Shortening the cooldown period from 45 days to 7 days reduces exit friction for staked funds; cancelling vKAT and the voting mechanism means the original governance layer is removed and the role of token holders shifts toward revenue distribution. For users following DeFi and staking narratives, November 17 is the first observable checkpoint: whether fees actually flow to avKAT, whether one-click conversion opens, and whether the buyback is implemented will all need to be confirmed against Katana's official announcements and on-chain data. Such L2 and staking-related announcements also frequently appear simultaneously in the information channels of various trading platforms, and some users access the trading side to track developments via methods such as Huobi HTX registration and app download, 芝麻Gate.io registration and app download, Bitget registration and app download, 币安binance registration and app download, and 欧易OKX registration and app download, but the specific rules remain subject to what the protocol party publishes.
FAQ
### Which revenue exactly do avKAT stakers receive a share of?
According to the two sources, starting November 17, a portion of the revenue from Katana Swap, Katana Perps, Vault Bridge, and Sequencer fees will flow to avKAT. As for the sharing ratio, settlement frequency, and whether buyback-acquired KAT is included, the statements from Odaily and PANews in the materials are inconsistent, and neither provides specific figures.
### What happens to previously held vKAT?
Katana will cancel vKAT and its voting mechanism. PANews reported that former vKAT holders can convert to avKAT with one click starting November 17; Odaily's report did not mention this conversion arrangement, and whether the conversion has a deadline or conditions still awaits further official clarification.
### How long does unstaking take?
Both sources confirm that the unstaking cooldown period will be shortened from 45 days to 7 days. This adjustment reduces exit friction for staked funds, but whether the effective time is synchronized with the November 17 fee distribution is not explicitly stated in the materials.