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Katana: score, security record and what it is for

58/100SCORE · CMixed record Grade C, fair

Katana is the main decentralised exchange on Ronin, the gaming chain from Sky Mavis. In 2022 the Ronin bridge lost around 620 million dollars to North Korean actors; users were repaid and the validator model was overhauled. Katana itself was not exploited.

The facts

LIVE SINCE: 2021
TYPE: AMM
CHAINS: Ronin
SWAP FEE: Around 0.30 percent.
AUDITS: Audited.
WHO CAN CHANGE IT: Sky Mavis controlled.

How the score breaks down

security18/30

liquidity11/25

chains8/15

costs13/15

decentralisation8/15

Where it is strong and where it is not

✓ Strengths

The main venue on Ronin
Users were repaid after the 2022 bridge theft
Cheap

✗ Weaknesses

The Ronin bridge suffered one of the largest thefts ever in 2022
Heavily controlled by Sky Mavis
Gaming ecosystem only

Exploit history

2022

The Ronin bridge, not Katana itself, lost around 620 million dollars to North Korean actors. Sky Mavis raised capital and repaid users, and the chain's validator model was overhauled.

Our read

The exchange itself was not exploited. The chain it sits on suffered one of the largest thefts in crypto history, which is the relevant context for anything held there.

BEFORE YOU SWAP

Swap keeps failingSlippage, approvals, taxes and thin liquidity. Revoke approvalsEvery swap leaves a permission behind. Clear them. Gas tokensWhy you need the chain's native coin first. Pick a walletYou need self custody before you can use any DEX.

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