Polygon Labs became a darling of the 2021 and 2022 crypto boom when it partnered with corporate stalwarts like Starbucks and Meta on various blockchain projects. But, as those brand-name companies quietly dropped their experiments amid the ensuing “Crypto Winter,” Polygon Labs searched for other ways to popularize its network.
On Wednesday, the company, along with the crypto market making firm GSR, announced the launch of the newest blockchain it’s helped incubate: Katana. Instead of catering towards corporate clients, Katana is aimed at “degens”—crypto slang for traders with a high appetite for risk who often use DeFi, or decentralized finance, platforms.
