This market centers on whether the total trading volume generated during Round 5 of the Katana Perps Competition will surpass the $115 million mark, a threshold measured against activity on Katana's native perpetuals DEX over the competition window. The reward-driven competition serves as a focal point for gauging traction on the platform, since incentivized trading rounds concentrate participation and offer a clear, quantifiable snapshot of throughput and user engagement relative to prior rounds. Traders are assessing prior-round volume trends, the size and structure of the Round 5 reward pool, prevailing market conditions across onchain derivatives, and the pace of activity as the window progresses to gauge the likelihood that cumulative volume clears the stated $115 million level by the competition's conclusion.

1. Market Outcomes and Resolution Criteria: This market resolves "YES" if the official total trading volume recorded for Round 5 of the Katana Perps Competition is strictly greater than $115,000,000 USD at the competition's conclusion, and "NO" if the official total is $115,000,000 USD or below at the official competition end time. It resolves to Tie if the competition is cancelled, the official dashboard is permanently unavailable, or no final volume figure is published within 24 hours of the official competition end time; in the event of a Tie resolution, all positions settle at $0.50 per share.
2. Definition of "Total Trading Volume Exceeds $115M": "Total trading volume exceeds $115,000,000" means the aggregate cumulative trading volume figure displayed on the official Katana Perps Competition (Round 5) dashboard at perps.katana.network/rewards/competition strictly exceeds $115,000,000 USD at the official competition close time, measured using the same volume methodology applied by the platform for this competition round."
3. Official Sources and Evidence: The primary source for resolution is the official Katana Perps Competition dashboard at https://perps.katana.network/rewards/competition, consistent with the resolution methodology applied in prior rounds. Official Katana team announcements via their verified social media channels or blog may be used as secondary confirmation only and cannot override a clearly published dashboard figure.
4. Resolution Timing: The market resolves no sooner than 24 hours after the official competition end time, once the final volume figure is confirmed on the official dashboard. Resolution is processed as soon as reasonably practical after that minimum window has elapsed and the final figure is stable.
5. Handling Postponements and Cancellations: If the Katana Perps Competition (Round 5) is extended beyond its originally scheduled end date by the platform, resolution is deferred to the new official close time. If the competition is cancelled or the dashboard is permanently unavailable and no official final volume figure is published within 24 hours of the originally scheduled end time, the market resolves to Tie.
6. Ambiguities and Disputes: If conflicting volume figures are presented, the figure displayed on the official competition dashboard at perps.katana.network/rewards/competition takes precedence. In the event of a material discrepancy between the dashboard and an official Katana team announcement, the most recent official publication governs. Any edge case not addressed herein is resolved based on Katana's own official records and stated volume methodology for this specific competition round.