Kinetiq, a liquid staking platform on the Hyperliquid blockchain, launched the KNTQ governance token on November twenty seventh.
KNTQ/USDH value. Supply: Hyper Liquid
On the time of writing, KNTQ is buying and selling at $0.13, up practically 19% in 24 hours, with a buying and selling quantity of $27.7 million and a market cap of $35.3 million, implying a totally diluted valuation (FDV) of roughly $130 million.
KNTQ tokenomics. Supply: KNTQ
The Defiant beforehand reported that 25% of the token distribution will probably be allotted to early customers, 30% to protocol development and rewards, and the remainder to contributors, buyers, and the Kinetiq Basis.
Liquid Staking permits customers to lock up their tokens and earn staking rewards whereas sustaining entry to liquidity. Kinetiq's core product, kHYPE, is a liquid type of staking HYPE that permits customers to earn cash whereas utilizing their belongings throughout the community.
Kinetic TVL
Launched in late 2024, Kinetiq shortly staked billions of {dollars} in liquidity and have become the biggest protocol in whole quantity lock (TVL) on Hyperliquid, in keeping with information from DefiLlama.
Nonetheless, Kinetiq's TVL has fallen by about 60% from $2.63 billion in early October to about $1.1 billion on the time of writing, probably because of airdrop farmers unwinding their positions previous to the token launch.
