Katana repurchases IDEX and launches a perpetual contract trading platform

Katana — the blockchain incubated by Polygon Labs — has just announced the acquisition of IDEX, one of the earliest decentralized exchanges (DEX) in the industry, while also officially launching Katana Perps, a perpetual futures trading platform (perpetual futures) that integrates both spot and derivatives on the same blockchain.

IDEX was founded in 2017 and was once the leading DEX on Ethereum in terms of trading volume and transaction count until 2019. This platform features a hybrid matching mechanism that combines on-chain settlement — technology that is now integrated directly into Katana Perps. The new exchange has gone live with leveraged trading and liquidity supported by market makers including GSR, Selini Capital, and Auros.

This is the first major deal under CEO Matthew Fisher — who previously worked at Polygon Labs, Diem Association, and Buttonwood. Mr. Fisher stated that the clear goal is to “gain more control over the transaction chain and the revenue attached to it”, amidst a backdrop of a booming on-chain derivatives market with decentralized perpetual contract trading volume reaching $739 billion in just January 2026.

CEO of Polygon Labs, Marc Boiron, assessed this as the “next phase” of the project, affirming that Katana is positioning itself not just as a conventional Layer-2 but as the place where the next wave of on-chain derivatives explosion will take place.