KatanaLive
Katana Perps Points· Season 1: The Forge
Open interest
$653.30K
24h volume
$36.69M
TVL
—
Annual revenueVolume annualised at a 2.65bps blended take rate.
$3.55M
Points outstanding
—
RunningStarted 2026-03-19
221d
Not tracked — enter an estimate
$
Multiples model: what comparable perp DEXs launched at, applied to this venue's revenue, volume, open interest and TVL. Range $24.49M–$109.59M.Regression on Revenue · ecosystem, n=10, refit daily on listing-day and live FDVs. Range $472.48M–$5.16B.
%
Not published — pick an estimate
Value per point
—
Add total points and an airdrop % to price a point.
Your holding
—
Enter your points to see what they're worth.
Sensitivity · $/point
Not enough data to model
Needs points outstanding, an expected airdrop percentage and at least one valuation factor.
Rows are launch FDV (log-spaced around the FDV set in the calculator); columns are the share of supply going to the airdrop. Cells are the resulting value of one point, after any haircuts set under Advanced.
Fair-value breakdown
Annualised revenue$89.60M
$3.55M × 25.3×40%
Annualised volume$14.99M
$13.39B × 0.0×25%
Open interest$779.33K
$653.30K × 1.2×20%
TVL—
No data for this venue · weight redistributed
Blended fair value$46.76M
p25–p75 band$24.49M – $109.59M
Multiples fitted on 6+ comparable launches. Weights are normalised across whichever factors survive, so dropping one reweights the rest rather than scoring it zero.
OTC price history
No OTC quotes for this programmeQuotes parsed from Telegram OTC desks, deduplicated and outlier-filtered.
GET /api/points/otcDaily medians of anonymous desk quotes. Treat as sentiment, not a price — a desk that wants to move the printed mid only has to post into the channel.
Emissions & dilution
No emission historyWeekly points issued, so you can see how fast your share is being diluted.
GET /api/points/emissionsEvery point issued after you earn yours dilutes your share of the same pool. A programme emitting steadily is worth less per point tomorrow than today, all else equal.
What we know0 facts
Post-TGE: KAT is already live, so Season 1 The Forge (launched 2026-03-19 with Katana Perps after the IDEX acquisition) is a continuing distribution, not a genesis airdrop — conversion rates unpublished, hence airdrop_pct null. Weekly 7-day sprints, snapshot Thursday 00:00 UTC, distribution Friday. Season 0 ran 7 weeks at a documented 700% return on fees paid. Invite-gated; $50k notional unlocks referrals. Emission unpublished. Fees are launch defaults from docs (4.0/1.0bps). Ecosystem: KAT coordinates the Katana chain, not just the perp venue.
Statusactive · Season 1: The Forge
Facts last verified2026-10-19 (6d ago)
TGE expected—
Airdrop share of supply—estimatedOur estimate — not published by the venue
Points outstanding—estimatedOur estimate — not published by the venue
Conversion ratios are set by each team at distribution time and no programme is obliged to ship a token. Never trade solely to farm an airdrop.