Kinetiq’s TVL Surges to $2.1B Amid HYPE Staking and Airdrop Campaign
Kinetiq, a liquid staking protocol centered on Hyperliquid’s HYPE token, has experienced significant inflows recently. This is largely due to users participating in the protocol's airdrop points campaign.
- Total Value Locked (TVL) on Kinetiq surged from approximately $458 million in mid-July to over $2.1 billion, according to DefiLlama.
- The price of HYPE increased by 20% during this period, contributing to the TVL rise.
- The amount of HYPE staked grew from under 10 million tokens in July to nearly 40 million.
- Kinetiq’s points program began in mid-July, driving significant activity within its ecosystem.
- Hyperliquid is gaining influence as a DeFi platform, attracting liquidity, trading activity, and staking demand.
- Points programs are popular, offering early participants future token allocations, enhancing appeal for yield-seeking investors.
- Staking HYPE through Kinetiq enables users to earn standard rewards and accumulate points for a potential token airdrop, offering a dual yield opportunity.
This dual yield opportunity is attracting many DeFi traders, as noted by some on X.