The Crypto Tape – Launching a Token Into an Imperfect Market and Why Borrowers Disappeared with Matthew Fisher

Matthew Fisher, CEO of Katana, sat down with Frank Chaparro following Katana's token generation event. Katana is a DeFi chain incubated by Polygon and GSR, built around concentrating liquidity at the base layer across lending, swapping, and leveraged trading.In this episode, Matthew breaks down the decision-making behind Katana's TGE timing, the state of the perps market and why Hyperliquid's dominance shapes everything, the borrower shortage that's suppressing on-chain yields across DeFi, and what it means to survive the post-TGE phase when the farming crowd moves on.