Quarterly Report — January to March 2024

Dear Patrons!!!

We are delighted and grateful to announce that the last two quarters have been a period of great growth for Kana Labs and we thank you for your contributions towards our growth. During Q4 2023, we were focused on the beta testing and launch of several new DeFi products including our orderbook platform “Kana Trade”. At the same time, we also focused on global expansion efforts gaining a strong foothold in the Korean and Japanese markets.

This quarter (Q1 2024), we focused on further expansion in several other Southeast Asian market regions. Also, we solidified our presence as a recognised Web3 brand label specialising in B2C DeFi solutions and EIP-4337-based account abstraction and Paymaster blockchain infra. We also ran several iterations of beta tests of another upcoming DeFI product — Perpetual Options under the product label “Switch”.

We added support for new blockchain networks to our cross-chain DeFi ecosystem. We have also improved the performance of our cross-chain aggregator by focusing on resolving bug fixes and making some UI improvements based on user feedback.

We crossed several key milestones in both B2C and B2B products and we are listing them below comparing the data on a QoQ basis:

1. We saw an all-around improvement on both our AMM swap & order book platform.
2. On the AMM swap platform powered by our crosschain aggregator -

• The overall volume for the quarter stood at $5.9 Million up by 745.53%
• Active wallet count for the same period stood at 15,058 up by 116.32%
• The total transactions count stood at 49,276 up by 185.79%

3. On the order book platform “Kana Trade” -

• The overall volume for the quarter stood at $28 Million up by 6719.71%
• The total transactions count stood at 224,975 up by 1561.44%

4. Our Paymaster service went live on the mainnet for the Aptos network by mid-February and it was integrated by Web3 short video-sharing social media platform “Chingari”. We also started offering the sponsored transactions feature in our order book platform for market orders in late March.

• For Q1 2024, our paymaster service has sponsored 8.6 Million transactions worth more than 3.5k APT tokens.
• We have also received a grant from the Aptos Foundation’s Aptos Ecosystem Grant Program for pioneering the Paymaster offering in the Aptos ecosystem.

On the partnership front, here is a list of projects/apps we have partnered with -

1. We went live with support for Arbitrum and Avalanche EVM chains in our DeFi ecosystem.
2. We have partnered with Beoble — a Web3 messaging platform to enable the In-App chat feature in our web app platform.
3. We have partnered with Metabora — the Web3 gaming division of Korean gaming giant Kakao Games renowned for bringing major games such as PUBG and Moonlight Sculptor to the Korean market.
4. Chainwith — the blockchain firm specialising in community-driven ecosystems will integrate Kana Labs’ Cross Chain Aggregator and Mirai Smart Wallet SDK with their flagship product C2E wallet.
5. Chingari, a renowned Web3 social media platform and short video-sharing platform has integrated our Paymaster service to offer sponsored transactions for its users.

Once again, we thank you for your continued support and patronage. Do keep a look out for more exciting updates from us. We look forward to working together with you in the future.

Thanks & Regards,

Team Kana Labs