TL;DR
- Kinetiq Foundation unveiled KNTQ, the Kinetiq governance token for its protocol on HyperEVM.
- The protocol has grown to over $1.6 billion in TVL since its launch in July.
- 25% of the 1 billion total supply of KNTQ will be allocated to an initial airdrop.
This Wednesday, the Kinetiq Foundation unveiled the Kinetiq governance token, KNTQ, intended to manage the future of the Kinetiq protocol. This platform has established itself as the largest liquid staking solution on HyperEVM, Hyperliquid’s Layer 1, managing a total value locked (TVL) exceeding $1.6 billion. The launch of KNTQ will allow holders to actively participate in the key decisions that will shape the protocol’s future.
The Kinetiq governance token will have a maximum supply of 1 billion units. The distribution is notable, with 30% reserved for protocol growth and rewards, and 25% allocated to the initial airdrop (divided into 24% for kPoints holders and 1% for Hypurr holders). The rest is distributed among core contributors (23.5%), the Kinetiq Foundation (10%), investors (7.5%), and liquidity (4%). Eligible airdrop recipients have until November 21 at 20:00 UTC to accept the Terms of Use.
Exponential Growth in the Liquid Staking Boom
This launch highlights the growing demand for liquid staking on new Proof-of-Stake networks, a sector that is already the second-largest category in DeFi, currently reaching a TVL of $71 billion.
Kinetiq’s growth has been meteoric since its launch in July, becoming the fastest-growing protocol on Hyperliquid. Its liquid staking token, kHYPE, already ranks tenth among all global LST protocols, with its own TVL of $1.36 billion.
The initial success was overwhelming: in just 24 hours after its launch, Kinetiq attracted over $460 million in capital from only 2,800 holders.
The Foundation, which recently revealed it had raised $1.75 million from investors active within the Hyperliquid ecosystem, stressed that the Kinetiq governance token is key for composability. It will allow any application on Hyperliquid to easily integrate with Kinetiq’s offerings, such as liquid staking with kHYPE or “Earn” products.
