Good stuff by @Eli5defi, here on Katana🔥
The stats are solid, but what's more interesting is how @katana actually works.
Most L2s try to do everything. Katana picked one lane i.e DeFi. And that narrow focus lets them build something that actually feeds itself.
Here's how the flywheel works👇
• Sequencer fees
• Bridge vault yields (bridged assets earn on ETH)
• CoL yields
• AUSD treasury yields (T-bill backed stablecoin)
Activity → Revenue → Deeper Liquidity → Better execution & yields → More Activity
Instead of printing tokens to incentivize growth, @katana recycles real revenue back into the system. This is why it's sustainable because it runs on productivity, not just emissions.
h/t to @blockworksres for the infographics.

➥ A Quick Look at Katana’s October Stats.
October showed a steady shift on @katana, according to @Blockworks_' latest report.
Yields eased, but activity kept rising for the third month and productive TVL stayed near full use.
Here is Katana’s October report in 30s 🧵
— — —
► Revenue Breakdown
Katana generated about $463K in October revenue, down 17% from September.
▸ Vault Bridge interest: $394K
▸ $AUSD yield: $50K
Network fees reached $18.6K, the third month of growth.
—
► TVL and Capital Efficiency
TVL reached about $583M in October, a 10% increase that moved the network into the top 15 chains. It is also the 8th largest rollup by Total Value Secured (TVS).
▸ Productive TVL rose from about 90% in early September to 99.9% by late October
—
► Application Layer Performance
Application fees reached about 1.5M in October, up 82%
▸ @Morpho
Deposits: $633M
Borrows: $199M
Utilization: 31%
Ranking: 3rd largest Morpho deployment
▸ @SushiSwap
Volume: $565M
LP fees: $299K
Days above $10K in fees: 13 days
Protocol revenue: softened in October
▸ @yearnfi
Deposits: $292M
Protocol revenue: $65K
Unique depositors: 16,623
Asset-level utilization was 83% for $USDC and 76% for $ETH.
—
► Transaction Cost Advantage
Median fees stayed around $0.0004
▸ @solana: ~3x higher
▸ @base: ~8x higher
▸ @arbitrum: ~11x higher
—
► Why This Matters
Katana's activity continued to rise in October and marked the third straight month of growth.
Productive TVL stayed near 99.9%, with most capital deployed across core applications. Low fees kept actions cheap across the network and supported steady usage.
This is the irrefutable proof that Katana's model is working.
—
cc:
@Crypto_Texan
@0xMarcB

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