Kinetiq, a liquid staking platform on the Hyperliquid blockchain, launched the KNTQ governance token on November 27th.
KNTQ/USDH price. Source: Hyper Liquid
At the time of writing, KNTQ is trading at $0.13, up nearly 19% in 24 hours, with a trading volume of $27.7 million and a market cap of $35.3 million, implying a fully diluted valuation (FDV) of approximately $130 million.
KNTQ tokenomics. Source: KNTQ
The Defiant previously reported that 25% of the token distribution will be allocated to early users, 30% to protocol growth and rewards, and the rest to contributors, investors, and the Kinetiq Foundation.
Liquid Staking allows users to lock up their tokens and earn staking rewards while maintaining access to liquidity. Kinetiq’s core product, kHYPE, is a liquid form of staking HYPE that allows users to earn money while using their assets across the network.
Kinetic TVL
Launched in late 2024, Kinetiq quickly staked billions of dollars in liquidity and became the largest protocol in total volume lock (TVL) on Hyperliquid, according to data from DefiLlama.
However, Kinetiq’s TVL has fallen by about 60% from $2.63 billion in early October to about $1.1 billion at the time of writing, likely due to airdrop farmers unwinding their positions prior to the token launch.
