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Katana acquires IDEX and launches the perpetual contract platform Katana Perps

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March 23rd — Katana, a custom Layer 2 (L2) network for decentralized finance (DeFi), announced the acquisition of decentralized exchange IDEX and the launch of its native perpetual contract platform, Katana Perps. The platform’s first season points program, “The Forge,” also went live simultaneously. Katana CEO Matthew Fisher noted the move aims to give Katana greater control over its underlying protocol stack and economic engine. Katana Perps uses an order book model, offering low-latency execution and advanced order controls, with backing from institutional market makers including GSR, Selini Capital, and Auros. The platform will also integrate deeply with Katana’s KAT token, vKAT governance system, and Vault Bridge, using vbUSDC as its primary collateral asset. U.S. users currently do not have access to the platform.
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Magic Eden has increased the token buyback and staking rewards ratio to 30% of core revenue.

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High Stakes Capital Sells 300,000 HYPE Tokens Worth $11.45 Million in the Last Two Hours

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The Aave Community has activated the Aave V4 on the Ethereum Mainnet through the ARFC proposal.

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The mediating country between the US and Iran is scheduled to convene a meeting in Islamabad later this week

March 23 — Per AXIOS: An Israeli official stated that an intermediary nation is seeking to convene a meeting in Islamabad later this week, with attendees including Iranian Parliament Speaker Qalibaf, U.S. Envoy Wells, Jared Kushner, and Avril Haines.

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Kalshi Early Employees Launch Prediction Market Venture Capital Fund with Backing from Kalshi and Polymarket CEOs

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The US publicly traded company NovaBay Pharmaceuticals has rebranded and pivoted to the stablecoin business

**March 23 — NovaBay Pharmaceuticals, a U.S. pharmaceutical firm, has rebranded to Stablecoin Development Corporation and changed its stock ticker from NBY to SDEV, signaling its shift from healthcare to crypto and stablecoin development.** **The company previously closed a $134 million private funding round and now holds roughly 20.6 billion SKY tokens — about 8.78% of the total supply — after building up its SKY position. It has begun staking its SKY tokens and has so far earned approximately 26.6 million SKY in rewards.** **(CoinDesk)**

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