It has become a custom for chains to launch and target the highest TVL possible. This is a mistake. Not all TVL is created equal:

1. Productive TVL (i.e., TVL actively used in an ecosystem) is much more valuable than passive TVL, which is a cost to the ecosystem with no benefit.

2. Stables are more valuable than BTC given the greater borrowing and trading in those assets.

From day 0 of @katana, we’ve decided to do it the hard way: bring in valuable, productive TVL. Don’t go for inflated TVL that has negative value. This means TVL on katana will be lower than other ecosystems. But the value the TVL drives will be much higher.