Key Points
- Sunsetting the Katana Liquidity Mining Program: Over the past few years, Katana v2 incentives were successful in bringing liquidity to Katana. On May 30th, these rewards will end to make way for a Katana v3-powered ecosystem.
- Katana v2 → Katana v3: Last year, the Katana v3 upgrade introduced new infrastructure that makes smarter, more efficient capital deployment possible. Higher performance, lower fees, better yield. We encourage liquidity providers to migrate from v2 to v3 now and make the most of Katana’s rewards.
- Other ways to earn rewards with DeFi on Ronin: Earn boosted rewards from the $3M Ronin Blitz, get ETH staking yield through Rocket Pool rETH on Ronin, and stay tuned for more details about new DeFi primitives coming to our ecosystem.
The Katana Liquidity Mining Program has helped bootstrap RON and encourage liquidity providers to support Ronin’s native DEX since 2022. Over the past three years, Sky Mavis also made periodic adjustments to the program’s reward schedules, balancing overall RON emissions with targeted incentives.
Today, Ronin is entering a new era where DeFi protocols introduce even more ways to earn RON. However, more RON rewards also mean more RON emissions. This is why, after a thorough review, the ecosystem team has decided to sunset the Katana Liquidity Mining Program’s rewards to transition towards a Katana v3-powered ecosystem. Here’s what that means:
Transitioning to a Katana v3-powered ecosystem
Over the past few years, Katana v2 incentives were successful in keeping liquidity on Katana. Thank you to each and every liquidity provider for your support! We’ve unlocked deeper liquidity and broader utility—one update at a time:
- Katana DEX launches - Nov 2021
- Liquidity Mining launches - Jan 2023
- Liquidity Mining rewards reduced as RON goes mainstream - Feb 2024
- Katana v3 introduces concentrated liquidity - Dec 2024
- Ronin Blitz goes LIVE with new pools and assets - Apr 2025
- Liquidity Mining sunset - May 2025
- Katana upgrade coming soon - Q3 2025
The Ronin ecosystem will continue to grow as long as opportunities are available and RON emissions remain balanced. However, the Katana Liquidity Mining Program emits over 200,000 RON rewards per week at the moment. These emissions are too high and inefficient in their current form, and will be redirected to the plethora of current and future opportunities on Ronin via the Blitz program.
How Katana v3 helps the Ronin ecosystem
The upgraded Katana DEX makes more efficient capital deployment possible.• Traders get more accurate prices and pay less in slippage• Liquidity providers can earn larger rewards• Web3 gaming tokens become more useful than everNote: The more concentrated a liquidity position, the greater its exposure to impermanent loss. Check out our DeFi 101 guide for more details.
Final Thoughts
Katana launched in November of 2021. It started as a DEX to power Axie Infinity, evolved into a bootstrapping engine for RON, became the launchpad for countless Web3 gaming tokens, and it’s now adding DeFi to the stack. Thank you to everyone who has joined us throughout this journey. Let’s keep pushing.
