Katana, a decentralized finance blockchain developed under the guidance of Polygon Labs and GSR Markets, has acquired IDEX to launch Katana Perps-a unified onchain perpetual futures and spot trading platform.
The move marks the first major strategic step under new CEO Matthew Fisher, who aims to consolidate trading infrastructure and revenue under one stack.
IDEX, launched in 2017, pioneered high-speed order matching with onchain settlement and was once the top Ethereum-based DEX by volume and transactions.
Now, its operational legacy powers Katana Perps, which is live with support from market makers including GSR, Selini Capital, and Auros.
The platform enables leveraged trading, directional exposure tools, and integrated liquidity for both crypto-native traders and institutional investors seeking round-the-clock derivatives access.
Decentralized perpetuals have surged, with CoinGecko reporting $6.7 trillion in cumulative 2025 trading volume-a 346% year-over-year rise. Hyperliquid leads with over 55% market share.
Recent geopolitical tensions triggered $7.3 billion in oil futures volume on Hyperliquid by March 13, underscoring demand for always-on onchain price discovery.