Katana Covered Call Vault Popularity

What is Katana ?

Among the Solana protocols, Katana is the premier tool for structured products and vault strategies. With Katana, you can use DeFi strategies to generate yield on Solana. Katana identifies, compiles, and packages an accessible set of yield strategies into accessible yield products. In the protocol, users can access a wide range of products across the risk spectrum, allowing them to mix and match strategies easily to create their desired exposure. The ultimate intent of Katana is to become a permission less protocol that allows anyone with the Solana ecosystem’s best yield products to access, contribute, and build upon them.

Let us explore what is going on with the top 5 Katana vaults in this post

  1. SOL Vault
  2. mSOL Vault
  3. BTC Vault
  4. ETH Vault
  5. LUNA Vault

We are going to explore number of deposits and withdrawals observed as well as the tokens moving in and out of these vaults starting January 2022 till end of March 2022. The following chart shows the total number of transactions (deposits & withdrawals) recorded on weekly basis. As you notice in the chart the number of withdrawals are significantly higher than the deposits. Especially around early January we noticed 1000 withdrawal transactions.

Now lets us explore activity in individual vaults starting with Bitcoin Vault. The following chart shows the number of Bitcoin tokens deposited vs withdrawn starting 2022. I like the shape of the chart :). Looks like the deposits and withdrawals are in a balanced relationship while most of the time we see higher volume of deposits compared to withdrawals.

So how is the king of Defi, Ethereum, doing? Let us check the tokens deposited vs withdrawn in the chart below. The early 2022 crash has caused a good churn in Katana’s ETH Vault. More than 3000 ETH tokens moved in and out in the month of January and in subsequent months we see less dramatic activity

This chart shows LUNA vault activity with it launch in last Dec 2021. During the launch around 203K tokens were deposited in to the vaults and since then a balanced moved of tokens is observed via entry & exit gates.

The following two charts show the tokens added and removed from SOL & mSOL vaults.

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